Twitter-Hack: Bitcoin-Börsen verhinderten größere Abzocke ...

BlockPress.com has real development velocity and is looking like a real on-chain Twitter more each day. Now you can post images, and their UI/Layout is excellent. BCH will keep attracting builders and innovators to the space, while Legacy-Bitcoin withers.

submitted by cryptorebel to btc [link] [comments]

Bitcoin Builder on Twitter: "Hooray, btcbldr's mtgox claim fully approved! Now we wait for info about payout timetable/method/etc..."

Bitcoin Builder on Twitter: submitted by arthurbouquet to Bitcoin [link] [comments]

BlockPress.com has real development velocity and is looking like a real on-chain Twitter more each day. Now you can post images, and their UI/Layout is excellent. BCH will keep attracting builders and innovators to the space, while Legacy-Bitcoin withers.

submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Bitcoin Builder on Twitter: "Hooray, btcbldr's mtgox claim fully approved! Now we wait for info about payout timetable/method/etc..."

Bitcoin Builder on Twitter: submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Radix Solving DeFi Risk

RADIX: THE PROTECTION AGAINST DEFI RISK
Radix is a First-layer protocol for DeFi. Currently, DeFi applications are based on protocols that are not scalable Radix has created a robust, secure, and scalable protocol for building applications and tokens. Based on existing public ledgers’ success, the Radix protocol is an unauthorized framework within which DeFi services can be developed and operated. Radix claims to solve two of the biggest problems in DeFi: scalability and security. Overall, the blockchain-based decentralized finance (DeFi) space is still evolving but offers a compelling value proposition where individuals and institutions have broader access to financial applications without the need for a trusted broker.
WHAT IS DECENTRALIZED FINANCE (DeFi)
Decentralized finance is a new financial system based on public blockchains such as Bitcoin and Ethereum. After all, Bitcoin and Ethereum are not just digital currencies. They are essentially open-source networks that can be used to change the way the world economy works. DeFi is a significant project to decentralize traditional core use cases such as trading, lending, investment, asset management, payments, and insurance on blockchains. DeFi relies on decentralized applications or protocols (dApps). By running these dApps on a blockchain, a peer-to-peer financial network is provided. Each dApp can be combined with each other like Lego blocks. Smart contracts act as connectors comparable to perfectly defined APIs in traditional systems. Rarely will you get great rewards without huge risk Just like every other industry, the DeFi system also has its own risks and issues. Unfortunately, many DeFi system users underestimate the risk associated with automated loan protocol’s impressive interest rates.
FORMS OF DEFI RISKS
When working with DeFi solutions, it is essential to consider technical and procedural risks as well. Technical risk means assessing potential weak spots in the hardware and software behind a product or service. This is important for decentralized applications (dApps) Procedural risk can be viewed as similar to technical risk, but rather than considering the product or service, procedural risk examines how users can be directed to use the product in undesirable ways that could compromise their safety.
RADIX SOLVING DeFi RISKS
DeFi is worth more than $ 8 billion. However, DeFi requires fast and minimal transaction fees and secure building systems to reach its full potential. DeFi applications must be scalable and compilable. Protocols such as Ethereum 2.0, Polkadot, and Cosmos solve the wrong scaling issues and don’t attract others, according to Piers. According to Piers, mainstream DeFi needs a bottom-up DLT platform for DeFi_ to work for both users and developers. This is the purpose of Radix.
Incentives are needed to attract developers for the DeFi ecosystem to continue to grow. Radix has an innovative incentive program for developers that allows them to take advantage of the applications they contribute to. Radix has two significant innovations: The first is Cerberus, the scalable consensus protocol. Thanks to its highly fragmented data structure and its unique application layer, Cerberus can process many transactions.
The second innovation is the Radix Engine, a developer interface that enables public ledger to be quickly deployed in a secure environment. Radix Engine is the Radix application layer. In Crypto Chat, Piers anticipates that DeFi will have more liquidity in the transition market than any other exchange in the next decade. “The key component of DeFi is how liquidity can move between applications and products.” The Radix protocol is a combination of four core technologies that solve four significant issues to the growth of DeFi. It is a platform where transactions are fast with minimal transaction fee and high security. The scale is unlimited, and connections between applications. dApps can be created quickly and rely on their ability to safely manage user resources. Builders are rewarded directly from the platform for additional contributions, both large and small. It is a platform intended to serve as the basis for mainstream DeFi on a global scale.
Each of the four technologies on the Radix platform represents a breakthrough in the Defi-related issue we want to share with the world. At a critical technology milestone last year, the Radix team overcame DeFi’s core scalability problem by using its technology to over 1 million transactions per second, a performance that exceeds five times the NASDAQ at its peak.
THE POSSIBLE IMPACT OF DECENTRALIZED FINANCE
Five ways decentralized finance can affect the universe 1. Accessing financial services across borders With decentralized finance, all you need is an internet connection to access financial services in any part of the world. There are several barriers to access in the current system: Status: citizenship, document, identity, etc. Lack of Wealth: High Entry-Level Funds to Access Financial Services Location: Great distance to business economies and financial service providers A senior trader in a financial company will have the same access as a farmer in India’s remote area in a decentralized financial system.
  1. Affordable cross-border payments Decentralized funding eliminates costly intermediaries to make remittance services more affordable to the world’s population. In today’s system, sending money across borders is too expensive for people — the average global transfer fee is 7%. In decentralized financial services, transfer fees can be less than 3%.
  2. More privacy and security With decentralized finance, users have responsibility for their assets and can securely transact without a major party’s approval. In this day and age, parents risk people’s wealth and knowledge if they don’t protect them.
  3. Censorship-resistant transactions In a decentralized financial network, transactions are immutable, and blockchains cannot be closed by central institutions such as governments, central banks, or large corporations.
There are poor governance and authoritarianism. Users can exit the decentralized financial system to protect their assets. Venezuelans, for example, are already using Bitcoin to protect their wealth from government manipulation and hyperinflation. 5.Ease of use
With plug and play applications, users can spontaneously access and use the decentralized financial without centralized finance. With a decentralized system, anyone can get a loan from any part of the world through interoperable apps, invest in a business, pay off the loan, and make a profit.
writen By Naphtali Dabuk for more information visit https://t.me/radix_dlt https://twitter.com/radixdlt http://www.radixdlt.com/
submitted by d_realnafty to Radix [link] [comments]

How YFI came out of nowhere to become the fastest coin to reach $1B and the fastest coin to ever get listed on Coinbase

Note: As mentioned to the original 624 Reddit subscribers, there will be $YFI based Exclusive Original Content released here by myself and others from time to time. These kinds of interactive Deep Dives with a Q&A with fellow Investors / Beta Testers right afterwards is a rare thing in Crypto, and will only be found with this level of immediacy, social interaction, permanence, depth, and complexity of analysis and feedback on a platform like Reddit.

A lot of projects have low innovation, just copying something that someone else has already done, but with small tweaks to things like variables in Smart Contracts. A few rare projects have genuine innovation, providing genuine value to investors and users by providing attractive new products that simplify a lot of things in this space.
Even rarer are the Unicorns that not only have innovation, but they have innovation in spades, oozing out of every pore. $YFI is one of these types of Unicorns. The scope of products and rapidity of release of new revolutionary products of this project has been simply unmatched in the short history of Crypto.
Since 2009, the world of crypto has never seen anything like this lightning fast pace of development spanning such a wide scope of products - optimized automated yield farming and lending that relentlessly hunts the best yields, crypto insurance on Smart Contracts, a revolutionary Stablecoin idea that essentially makes a USD altcoin "smart" with built-in yield farming capabilities for the first time, to name a few - all built by a genius Smart Contract Builder who provided the world the first Fair Launch token.
Key to wrapping your head around the advantages that the yEarn Finance ecosystem has over - well, every single other option out there at this time - are the concepts below:

  1. CeFi vs. DeFi
  2. Composability
  3. Smart Contract Stacking
  4. The power of a Talented and Diverse DAO

To discuss these concepts, and to educate beginners, we have to understand what the terms above truly mean. This post doesn't discuss any particular products and their advantages, only the systemic advantages that are available only to $YFI. This project seems to attract the smartest and the highest risk taking of crypto investors, and an important thing in truly understanding all of the risks involved, is that you have to know the terms and concepts first. Even veteran crypto and DeFi users may be thrown for a loop by some of the innovative products and concepts that keep coming out of the YFI Labs.
This project is going through an expansion phase, where the scope of everything and the reach of the various released products is increasing (Insurance, A truly pegged Stablecoin, yETH Version 2, ySwap, yLiquidate, etc, etc..)
You know that there's some motherforker or twenty that is now just avidly waiting for every piece of code that Andre drops onto GitHub, so that they can be among the first to copy it verbatim then claim it as "their own variation" because they changed some variables and titles. Yawn.
From the definitive glossary for the DeFi space - yet another $YFI innovation - I'll list their definitions below. These may not be their final definitions when I finish any V1.1 edits to it, but they're good enough for now, and at least 3 or more YFI Dev Team members have read, reviewed, or edited these definitions. I've also invited my fellow Beta testers to provide comments to my RFC on this subreddit and in the Governance forum (among the documentation volunteers).
Yes, this is how early DeFi investors are in the development and maturation of the DeFi space. Anyone reading this right now is so early into DeFi's evolution that the terms used for this space are literally still being finalized by the community.
I've given a little bit of a sneak peek into how technical documentation is somehow self-organized in a powerful DAO such as this one. In this example, it starts off with a call for help on Twitter to improve our documentation by tracheopteryx. Interested and qualified volunteers show up (or don't) when such a call is made.
Your writers and editors have spent many a moment pondering off into space debating whether this term really means this or that, or if the term was either succinctly described, or fully sufficient. It's a usually thankless and anonymous job, that is critical in providing enough relevant information to its users and investors. [Note: Just like anything you see related to the $YFI project: You can help us improve this documentation - any of it - if you see errors or better ways of describing this information.]
All terms are shamelessly plagiarized from myself and my fellow writeeditors - u/tracheopteryx and Franklin - from the draft definitions in our new DeFi glossary: https://docs.yearn.finance/defi-glossary

1. CeFi vs. DeFi
CeFi - Centralized Finance. In terms of cryptocurrency, CeFi is represented by centralized cryptocurrency exchanges, businesses or organizations with a physical address, and usually with some sort of corporate structure. These CeFi businesses must follow all applicable laws, rules, and regulations in each country, state, or region in which they operate.
DeFi - DeFi, or Decentralized Finance, is at its root a set of Smart Contracts running independently on blockchains such as the Ethereum network. Smart Contracts may or may not interact with other smart contracts and even other blockchains.
The goal of DeFi is to enhance profitability of investors in DeFi through automated smart contracts seeking to maximize yields for invested funds. DeFi is marked by rapid innovative progression and testing of new ideas and concepts.
DeFi often involves high risk investing sometimes involving smart contracts that have not been audited or even thoroughly reviewed (a review is not as comprehensive as an audit, but may be also be included as part of an audit). Due to this and other reasons, DeFi is conventionally considered to be more risky than CeFi or traditional investing.
Comment: DeFi is higher risk, partly because it moves so fast. A lot of yams, hot dogs, and sushi can get lost when you move so fast that you can't even bother to do a thorough audit before releasing code. The cream of the crop projects will all have had multiple audits done by multiple independent auditors. Auditors are expensive. At such an embryonic stage, most projects can't afford to have one audit done let alone 5.
But if you can live with that higher risk intrinsic in DeFi and be willing to be a part of "testing in prod," then financial innovation can truly blossom. And if you let your best and brightest members of your community focus only on doing what they do best, then they don't have to bother to try to grow a business like a Bezos, Musk, or a Zuckerberg. Innovative entrepreneurs in this mold such as Andre, don't have to even try to do this business growth on their own because the DAO sets it up so that they don't have to do this. The DAO both grows the business while supporting and allowing these innovators to simply innovate, instead of trying to get nerds to do backroom deals to gain market share and access to new customers. It turns out that nerds are much more productive when you just let them be a nerd in their labs.

  1. Composability
Composability - The measure of the usability and ability of a product to be used as a building block (or "money lego") in the construction of other products or domains. A protocol that is simple, powerful, and that functions well with other protocols would be considered to have high composability.
Comment: The maturity of the cryptocurrency ecosystem and the evolution of composable building tools in the DeFi space now make new products and concepts available. $YFI would not have been possible only 2 or 3 years ago; the tools and ecosystem simply weren't ready for it yet.
This is why only now are you and many other now hearing about YFI. In 2018, Andre began providing free code reviews to Crypto Briefing. Andre had to learn to walk before he could run, and the composable tools needed to work on embryonic ideas in his head were simply not ready or available then. By reading and reviewing so many Smart Contracts he learned to recognize good code from bad code at what was still a very early stage in Smart Contract development in 2018, only 3 years after ETH's launch in July 2015.

  1. Smart Contract Stacking
Smart Contracts - A digital contract that is programmed in a language that is considered Turing complete, meaning that with enough processing power and time, a properly programmed Smart Contract should be able to use its code base and logical algorithms to perform almost any digital task or process. Ethereum's programming languages, such as Solidity and Vyper, are Turing complete.
Comment: Smart Contracts have actually gotten smarter since ETH launched in July 2015. It's because Smart Contract builders needed to learn Solidity and how it functions and interoperates before they could spread their wings as designers. With more time and experience under their belts, the early SC builders that stuck to it have gotten much better.
In Andre Cronje, we may have been witness to the rise of the next Satoshi or Vitalik of crypto. There is a reason that a couple of days ago, I counted 6 of 41 YF clones - nearly 15% - among the top gainers on the day. Success breeds copycats showing a ton of flattery. A smart contract is so smart, it can be used to be stacked upon other smart contracts such as at Aave or Maker.
True innovation takes time, sacrifice, blood, sweat, and tears. It does not come without cost to those doing the innovating.
There is not a single project in DeFi, CeFi, or even all of cryptocurrency that can claim the breadth and diversity of innovation and product reach that is found in the $YFI ecosystem. As a tech investor and professional nerd who's been involved at Research Labs and around product development and testing since before the year 2000. Prior to that I've ready widely and keenly to keep up with technological changes and assess investment potential in these disruptive changes nearly my whole life.
The amount of innovation shown in this project is breathtaking if you're a Tech or FinTech researcher. It's being released at a ridiculously rapid pace that is simply unmatched in any private or government research lab anywhere, let alone at any CeFi or traditional financial institution one can name. The only comparable levels of innovation shown by this young project is typically only seen during periods of epochal changes such as The Renaissance or times of strife and war, such as World War II.
Unless you've been in the industry and working with coders: I don't think those that haven't been around software development and testing can understand, can truly grasp that no one, no group does this. This isn't normal. This rapid-fire release of truly innovative code and intelligent strategies would have to be comparable to some of the greatest creative periods of human ingenuity and creativity. It's truly on par with periods of brilliance seen by thinkers like Newton, Einstein and Tesla, except with software code and concepts in decentralized finance. When the history of FinTech writes this chapter in its history, $YFI may need its own section or chapter.
Don't forget all of these financial instruments we take for granted all around us, all had a simple start somewhere, whether it was an IOU system of credit, insurance, stocks, bonds, derivatives, futures, options, and so on...they all started off as an idea somewhere that had to get tested sooner or later "in production."
One brilliant aspect of $YFI Smart Contracts is that they're built as a profitable layer atop existing DeFi protocols, extracting further value from base crypto assets and even primary crypto derivatives. $YFI is built atop existing smart contracts to create further value where there was none before, and help maximize gains for long term investors.

  1. The Power of a Talented and Diverse DAO
DAO - Distributed Autonomous Organization. The first DAO was started in 2016. According to Wikipedia's definition, it is an: "organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain."
When implemented well, a DAO allows for real world experiments in decentralized democratic organization and control, with more freedom of action and less regulatory oversight for DAO controlled projects and products when compared to legacy corporate structures and organizations.
Comment: yEarn Finance has shown us what a properly motivated and sufficiently powerful DAO can do in a short amount of time.
There's many reasons why this project with an already profitable business model is the fastest original project in history to ever reach a $1B marketcap in any market - traditional or crypto - accomplishing this amazing feat in less than two months. There's reasons why this is probably the fastest coin in history to get listed on Coinbase in less than 2 months.
The power of a sufficiently talented and diverse development team and community is stunning in its power, speed, and ability to get things done quickly. There are risks aplenty with parts of this project, but $YFI is now seen as a "safe" place in DeFi, because you know you that as far as yield farming you probably couldn't do it better yourself unless you took a chance on unaudited code with anonymous Devs, or you were doing the trading equivalent of throwing darts blindfolded and somehow won, except that you even more improbably kept doing that over and over and winning.

Summary: There's reasons why YFI has been called the Bitcoin of DeFi and the Berkshire Hathaway Series A of crypto. I've listed some of the reasons above. The confluence of these 4 factors has helped lead to explosive growth for this project.
This isn't financial advice as I'm not a financial pro but make no mistake: as a Crypto OG around crypto since early 2013, who was deeply involved in multiple community projects as an early organizer, and who was a small investor during the DotCom era investing in early giants that went on to be gorillas, I don't say this lightly that the $YFI project is lightning in a bottle and a diamond in the rough.
What $YFI allows, when all is said and done, is the rapid fire implementation of great ideas that have gone through a rapid Darwinian evolution, where only the best ideas are implemented. Thoughts and ideas are powerful things. The valuation of this coin and ecosystem has to, it must take into account that this nascent financial innovation hub and ecosystem actually works and allows the best of these ideas to actually blossom rapidly.
You just don't find too many gems like this.
submitted by CryptoOGkauai to yearn_finance [link] [comments]

Bold move from Acala: EVM support coming!

The Acala team recently announced support for EVM-based smart contracts in their parachain. In short, this means that smart contracts that run on Ethereum can be run on their parachain. As they are targetting DeFi use case, I think that’s a great way to garner adoption. It’s also a bold strategy as I will outline below.
 
Some background on the Acala team
The team is actually composed to two teams who were already building for the Polkadot ecosystem. Those teams are PolkaWallet and Laminar. The latter focus on runtime engineering (“building chains”), while PolkaWallet is a mobile-first wallet for Polkadot (and Kusama).
These teams, both as separate entities and together as Acala, applied for grants in the Web3 Foundation grant program Each application was successful too. I know this since I prepared their contracts. 😉
In my dealings with them they were always professional and honest, plus their enthusiasm and dedication to Polkadot is unsurpassed.
 
What is Acala?
In their own words:  
“A decentralized stablecoin platform powering cross-blockchain open finance applications.” (Source)
The team are aiming to be the “decentralized financial hub of Polkadot” with “a suite of financial primitives: a multi-collateralized stablecoin backed by cross-chain assets like Bitcoin, a trustless staking derivative, and a decentralized exchange.” (Source)
Add in wallet support and you have a very compelling package that should entice both builders and users to the project. Merely building a blockchain doesn’t guarantee wallet support from day one, nor does it guarantee developers will want to build for it, but this is where Acala is making great headway to overcome those challenges.
For users, having access to a stablecoin is a big must and is something that I was personally wrong about. I didn’t think they would be so useful (+1 XP for me). Moreover, I suspect there could be a governance token coming too, one which is also the fuel for the contracts. I can see these features intertwining into some interesting token economics.
 
A bold strategy
A strong team announcing support for EVM-flavoured smart contracts is great for Polkadot, but I think it may ruffle a few feathers with other teams who are also planning to offer EVM compatibility. This is a bold move, but one that makes sense. Being able to attract DeFi developers to Polkadot is easier if there is a nice migration path from Ethereum to Polkadot.
It feels like a competitive move as EVM-compatible parachains will have an overlap in target audience. This is one of the interesting aspects of the blockchain space: you have open-source software and a general design principle of interconnectivity such that collaboration is highly encouraged, yet there is a limited number of developers. Acala is collaboratively in the sense that it should offer a stablecoin.
That said, there is some natural differentiation between the projects too. Should DeFi projects naturally adopt Acala, then I see this as an opportunity for non-DeFi projects to migrate to the other parachains (e.g. Plasm and Moonbeam). Ultimately, that may not be such a bad thing. Less projects on the same chain (“shard”) means less congestion.
The launching of the new parachains is something to watch closely over the next year or so; however, that is the subject of a future blog!
 
Acala Tokens
At the moment Acala are not selling any tokens to the public. If you see anything listed on Uniswap or elsewhere in the Ethereum ecosystem (e.g. as an ERC-20) then be very skeptical.
There has been some private sales to professional investors, but nothing public. There is no published date for a token sale, so currently there is no known way for small investors to get involved. Although I believe it could happen before launch. The team have a roadmap on their website which suggests a potential parachain launch of Q3 2020, but I do fear that timeline might slip.
Personally, I’d really like to buy some but as a non-professional investor of only modest means I will be waiting like everyone else in the community. While I believe Acala is a strong team I think everyone should do their own research and make up their own mind.
 
Disclaimer: Polkadot Market provides opinions, news, aggregated content and the occassional financial data. Polkadot Market is not a broker / dealer and is not a registered professional advisor. No information on this site should be taken as a solicitation to buy or sell financial assets.
 
Connect with us
Connect with us on the Polkadot Market Discord.
 
This is a cross-post from the Polkadot Market website
submitted by ezoterik to polkadot_market [link] [comments]

Thanks to all who submitted questions for Shiv Malik in the GAINS AMA yesterday, it was great to see so much interest in Data Unions! You can read the full transcript here:

Thanks to all who submitted questions for Shiv Malik in the GAINS AMA yesterday, it was great to see so much interest in Data Unions! You can read the full transcript here:

Gains x Streamr AMA Recap

https://preview.redd.it/o74jlxia8im51.png?width=1236&format=png&auto=webp&s=93eb37a3c9ed31dc3bf31c91295c6ee32e1582be
Thanks to everyone in our community who attended the GAINS AMA yesterday with, Shiv Malik. We were excited to see that so many people attended and gladly overwhelmed by the amount of questions we got from you on Twitter and Telegram. We decided to do a little recap of the session for anyone who missed it, and to archive some points we haven’t previously discussed with our community. Happy reading and thanks to Alexandre and Henry for having us on their channel!
What is the project about in a few simple sentences?
At Streamr we are building a real-time network for tomorrow’s data economy. It’s a decentralized, peer-to-peer network which we are hoping will one day replace centralized message brokers like Amazon’s AWS services. On top of that one of the things I’m most excited about are Data Unions. With Data Unions anyone can join the data economy and start monetizing the data they already produce. Streamr’s Data Union framework provides a really easy way for devs to start building their own data unions and can also be easily integrated into any existing apps.
Okay, sounds interesting. Do you have a concrete example you could give us to make it easier to understand?
The best example of a Data Union is the first one that has been built out of our stack. It's called Swash and it's a browser plugin.
You can download it here: http://swashapp.io/
And basically it helps you monetize the data you already generate (day in day out) as you browse the web. It's the sort of data that Google already knows about you. But this way, with Swash, you can actually monetize it yourself. The more people that join the union, the more powerful it becomes and the greater the rewards are for everyone as the data product sells to potential buyers.
Very interesting. What stage is the project/product at? It's live, right?
Yes. It's live. And the Data Union framework is in public beta. The Network is on course to be fully decentralized at some point next year.
How much can a regular person browsing the Internet expect to make for example?
So that's a great question. The answer is no one quite knows yet. We do know that this sort of data (consumer insights) is worth hundreds of millions and really isn't available in high quality. So With a union of a few million people, everyone could be getting 20-50 dollars a year. But it'll take a few years at least to realise that growth. Of course Swash is just one data union amongst many possible others (which are now starting to get built out on our platform!)
With Swash, I believe they now have 3,000 members. They need to get to 50,000 before they become really viable but they are yet to do any marketing. So all that is organic growth.
I assume the data is anonymized btw?
Yes. And there in fact a few privacy protecting tools Swash supplys to its users.
How does Swash compare to Brave?
So Brave really is about consent for people's attention and getting paid for that. They don't sell your data as such.
Swash can of course be a plugin with Brave and therefore you can make passive income browsing the internet. Whilst also then consenting to advertising if you so want to earn BAT.
Of course it's Streamr that is powering Swash. And we're looking at powering other DUs - say for example mobile applications.
The holy grail might be having already existing apps and platforms out there, integrating DU tech into their apps so people can consent (or not) to having their data sold - and then getting a cut of that revenue when it does sell.
The other thing to recognise is that the big tech companies monopolise data on a vast scale - data that we of course produce for them. That is stifling innovation.
Take for example a competitor map app. To effectively compete with Google maps or Waze, they need millions of users feeding real time data into it.
Without that - it's like Google maps used to be - static and a bit useless.
Right, so how do you convince these big tech companies that are producing these big apps to integrate with Streamr? Does it mean they wouldn't be able to monetize data as well on their end if it becomes more available through an aggregation of individuals?
If a map application does manage to scale to that level then inevitably Google buys them out - that's what happened with Waze.
But if you have a data union which bundles together the raw location data of millions of people then any application builder can come along and license that data for their app. This encourages all sorts of innovation and breaks the monopoly.
We're currently having conversations with Mobile Network operators to see if they want to pilot this new approach to data monetization. And that's what even more exciting. Just be explicit with users - do you want to sell your data? Okay, if yes, then which data point do you want to sell.
Then the mobile network operator (like T-mobile for example) then organises the sale of the data of those who consent and everyone gets a cut.
Streamr - in this example provides the backend to port and bundle the data, and also the token and payment rail for the payments.
So for big companies (mobile operators in this case), it's less logistics, handing over the implementation to you, and simply taking a cut?
It's a vision that we'll be able to talk more about more concretely in a few weeks time 😁
Compared to having to make sense of that data themselves (in the past) and selling it themselves
Sort of.
We provide the backened to port the data and the template smart contracts to distribute the payments.
They get to focus on finding buyers for the data and ensuring that the data that is being collected from the app is the kind of data that is valuable and useful to the world.
(Through our sister company TX, we also help build out the applications for them and ensure a smooth integration).
The other thing to add is that the reason why this vision is working, is that the current data economy is under attack. Not just from privacy laws such as GDPR, but also from Google shutting down cookies, bidstream data being investigated by the FTC (for example) and Apple making changes to IoS14 to make third party data sharing more explicit for users.
All this means that the only real places for thousands of multinationals to buy the sort of consumer insights they need to ensure good business decisions will be owned by Google/FB etc, or from SDKs or through this method - from overt, rich, consent from the consumer in return for a cut of the earnings.
A couple of questions to get a better feel about Streamr as a whole now and where it came from. How many people are in the team? For how long have you been working on Streamr?
We are around 35 people with one office in Zug, Switzerland and another one in Helsinki. But there are team members all over the globe, we’ve people in the US, Spain, the UK, Germany, Poland, Australia and Singapore. I joined Streamr back in 2017 during the ICO craze (but not for that reason!)
And did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?
We did an ICO back in Sept/Oct 2017 in which we raised around 30 Millions CHF. The funds give us enough runway for around five/six years to finalize our roadmap. We’ve also simultaneously opened up a sister company consultancy business, TX which helps enterprise clients implementing the Streamr stack. We've got no more plans to raise more!
What is the token use case? How did you make sure it captures the value of the ecosystem you're building
The token is used for payments on the Marketplace (such as for Data Union products for example) also for the broker nodes in the Network. ( we haven't talked much about the P2P network but it's our project's secret sauce).
The broker nodes will be paid in DATAcoin for providing bandwidth. We are currently working together with Blockscience on our tokeneconomics. We’ve just started the second phase in their consultancy process and will be soon able to share more on the Streamr Network’s tokeneconoimcs.
But if you want to summate the Network in a sentence or two - imagine the Bittorrent network being run by nodes who get paid to do so. Except that instead of passing around static files, it's realtime data streams.
That of course means it's really well suited for the IoT economy.
Well, let's continue with questions from Twitter and this one comes at the perfect time. Can Streamr Network be used to transfer data from IOT devices? Is the network bandwidth sufficient? How is it possible to monetize the received data from a huge number of IOT devices? From u/ EgorCypto
Yes, IoT devices are a perfect use case for the Network. When it comes to the network’s bandwidth and speed - the Streamr team just recently did extensive research to find out how well the network scales.
The result was that it is on par with centralized solutions. We ran experiments with network sizes between 32 to 2048 nodes and in the largest network of 2048 nodes, 99% of deliveries happened within 362 ms globally.
To put these results in context, PubNub, a centralized message brokering service, promises to deliver messages within 250 ms — and that’s a centralized service! So we're super happy with those results.
Here's a link to the paper:
https://medium.com/streamrblog/streamr-network-performance-and-scalability-whitepaper-adb461edd002
While we're on the technical side, second question from Twitter: Can you be sure that valuable data is safe and not shared with service providers? Are you using any encryption methods? From u/ CryptoMatvey
Yes, the messages in the Network are encrypted. Currently all nodes are still run by the Streamr team. This will change in the Brubeck release - our last milestone on the roadmap - when end-to-end encryption is added. This release adds end-to-end encryption and automatic key exchange mechanisms, ensuring that node operators can not access any confidential data.
If BTW - you want to get very technical the encryption algorithms we are using are: AES (AES-256-CTR) for encryption of data payloads, RSA (PKCS #1) for securely exchanging the AES keys and ECDSA (secp256k1) for data signing (same as Bitcoin and Ethereum).
Last question from Twitter, less technical now :) In their AMA ad, they say that Streamr has three unions, Swash, Tracey and MyDiem. Why does Tracey help fisherfolk in the Philippines monetize their catch data? Do they only work with this country or do they plan to expand? From u/ alej_pacedo
So yes, Tracey is one of the first Data Unions on top of the Streamr stack. Currently we are working together with the WWF-Philippines and the UnionBank of the Philippines on doing a first pilot with local fishing communities in the Philippines.
WWF is interested in the catch data to protect wildlife and make sure that no overfishing happens. And at the same time the fisherfolk are incentivized to record their catch data by being able to access micro loans from banks, which in turn helps them make their business more profitable.
So far, we have lots of interest from other places in South East Asia which would like to use Tracey, too. In fact TX have already had explicit interest in building out the use cases in other countries and not just for sea-food tracking, but also for many other agricultural products.
(I think they had a call this week about a use case involving cows 😂)
I recall late last year, that the Streamr Data Union framework was launched into private beta, now public beta was recently released. What are the differences? Any added new features? By u/ Idee02
The main difference will be that the DU 2.0 release will be more reliable and also more transparent since the sidechain we are using for micropayments is also now based on blockchain consensus (PoA).
Are there plans in the pipeline for Streamr to focus on the consumer-facing products themselves or will the emphasis be on the further development of the underlying engine?by u/ Andromedamin
We're all about what's under the hood. We want third party devs to take on the challenge of building the consumer facing apps. We know it would be foolish to try and do it all!
As a project how do you consider the progress of the project to fully developed (in % of progress plz) by u/ Hash2T
We're about 60% through I reckon!
What tools does Streamr offer developers so that they can create their own DApps and monetize data?What is Streamr Architecture? How do the Ethereum blockchain and the Streamr network and Streamr Core applications interact? By u/ CryptoDurden
We'll be releasing the Data UNion framework in a few weeks from now and I think DApp builders will be impressed with what they find.
We all know that Blockchain has many disadvantages as well,
So why did Streamr choose blockchain as a combination for its technology?
What's your plan to merge Blockchain with your technologies to make it safer and more convenient for your users? By u/ noonecanstopme
So we're not a blockchain ourselves - that's important to note. The P2P network only uses BC tech for the payments. Why on earth for example would you want to store every single piece of info on a blockchain. You should only store what you want to store. And that should probably happen off chain.
So we think we got the mix right there.
What were the requirements needed for node setup ? by u/ John097
Good q - we're still working on that but those specs will be out in the next release.
How does the STREAMR team ensure good data is entered into the blockchain by participants? By u/ kartika84
Another great Q there! From the product buying end, this will be done by reputation. But ensuring the quality of the data as it passes through the network - if that is what you also mean - is all about getting the architecture right. In a decentralised network, that's not easy as data points in streams have to arrive in the right order. It's one of the biggest challenges but we think we're solving it in a really decentralised way.
What are the requirements for integrating applications with Data Union? What role does the DATA token play in this case? By u/ JP_Morgan_Chase
There are no specific requirements as such, just that your application needs to generate some kind of real-time data. Data Union members and administrators are both paid in DATA by data buyers coming from the Streamr marketplace.
Regarding security and legality, how does STREAMR guarantee that the data uploaded by a given user belongs to him and he can monetize and capitalize on it? By u/ kherrera22
So that's a sort of million dollar question for anyone involved in a digital industry. Within our system there are ways of ensuring that but in the end the negotiation of data licensing will still, in many ways be done human to human and via legal licenses rather than smart contracts. at least when it comes to sizeable data products. There are more answers to this but it's a long one!
Okay thank you all for all of those!
The AMA took place in the GAINS Telegram group 10/09/20. Answers by Shiv Malik.
submitted by thamilton5 to streamr [link] [comments]

Crypto Banking Wars: Can Non-Custodial Crypto Wallets Ever Replace Banks?

Crypto Banking Wars: Can Non-Custodial Crypto Wallets Ever Replace Banks?
Can they overcome the product limitations of blockchain and deliver the world-class experience that consumers expect?
https://reddit.com/link/i8ewbx/video/ojkc6c9a1lg51/player
This is the second part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
---
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this very powerful technology to reach the masses. As we laid out in our previous series, Crypto-Powered, we believe companies that build with blockchain at their core will have the best shot at winning the broader consumer finance market. We hope it will be us at Genesis Block, but we aren’t the only game in town.
So this series explores the entire crypto landscape and tries to answer the question, which crypto company is most likely to become the bank of the future?
In our last episode, we offered an in-depth analysis of big crypto exchanges like Coinbase & Binance. Today we’re analyzing non-custodial crypto wallets. These are products where only the user can touch or move funds. Not even the company or developer who built the application can access, control, or stop funds from being moved. These apps allow users to truly become their own bank.
We’ve talked a little about this before. This group of companies is nowhere near the same level of threat as the biggest crypto exchanges. However, this group really understands DeFi and the magic it can bring. This class of products is heavily engineer-driven and at the bleeding-edge of DeFi innovation. These products are certainly worth discussing. Okay, let’s dive in.

Users & Audience

These non-custodial crypto wallets are especially popular among the most hardcore blockchain nerds and crypto cypherpunks.
“Not your keys, not your coins.”
This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets), then it’s not really your crypto. There has always been a close connection between libertarianism & cryptocurrency. This type of user wants to be in absolute control of their money and become their own bank.
In addition to the experienced crypto geeks, for some people, these products will mean the difference between life and death. Imagine a refugee family that wants to safely protect their years of hard work — their life savings — as they travel across borders. Carrying cash could put their safety or money at risk. A few years ago I spent time in Greece at refugee camps — I know first-hand this is a real use-case.

https://preview.redd.it/vigqlmgg1lg51.png?width=800&format=png&auto=webp&s=0a5d48a63ce7a637749bbbc03d62c51cc3f75613
Or imagine a family living under an authoritarian regime — afraid that their corrupt or oppressive government will seize their assets (or devalue their savings via hyperinflation). Citizens in these countries cannot risk putting their money in centralized banks or under their mattresses. They must become their own bank.
These are the common use-cases and users for non-custodial wallets.

Products in Market

Let’s do a quick round-up of some of the more popular products already in the market.
Web/Desktop The most popular web wallet is MetaMask. Though it doesn’t have any specific integration with DeFi protocols yet, it has more than a million users (which is a lot in crypto land!). Web wallets that are more deeply integrated with DeFi include InstaDapp, Zerion, DeFi Saver, Zapper, and MyCrypto (disclosure: I’m an investor and a big fan of Taylor). For the mass market, mobile will be a much more important form-factor. I don’t view these web products as much of a threat to Genesis Block.
https://preview.redd.it/gbpi2ijj1lg51.png?width=1050&format=png&auto=webp&s=c039887484bf8a3d3438fb02a384d0b9ef894e1f
Mobile The more serious threats to Genesis Block are the mobile products that (A) are leveraging some of the powerful DeFi protocols and (B) abstracting away a lot of the blockchain/DeFi UX complexity. While none get close to us on (B), the products attempting this are Argent and Dharma. To the extent they can, both are trying to make interacting with blockchain technology as simple as possible.
A few of the bigger exchanges have also entered this mobile non-custodial market. Coinbase has Wallet (via Cipher Browser acquisition). Binance has Trust Wallet (also via acquisition). And speaking of acquisitions, MyCrypto acquired Ambo, which is a solid product and has brought MyCrypto into the mobile space. Others worth mentioning include Rainbow — well-designed and built by a small indy-team with strong DeFi experience (former Balance team). And ZenGo which has a cool feature around keyless security (their CEO is a friend).
There are dozens of other mobile crypto wallets that do very little beyond showing your balances. They are not serious threats.
https://preview.redd.it/6x4lxsdk1lg51.png?width=1009&format=png&auto=webp&s=fab3280491b75fe394aebc8dd69926b6962dcf5d
Hardware Wallets Holding crypto on your own hardware wallet is widely considered to be “best practice” from a security standpoint. The most popular hardware wallets are Ledger, Trezor, and KeepKey (by our friends at ShapeShift). Ledger Nano X is the only product that has Bluetooth — thus, the only one that can connect to a mobile app. While exciting and innovative, these hardware wallets are not yet integrated with any DeFi protocols.
https://preview.redd.it/yotmvtsl1lg51.png?width=1025&format=png&auto=webp&s=c8567b42839d9cec8dbc6c78d2f953b688886026

Strengths

Let’s take a look at some of the strengths with non-custodial products.
  1. Regulatory arbitrage Because these products are “non-custodial”, they are able to avoid the regulatory burdens that centralized, custodial products must deal with (KYC/AML/MTL/etc). This is a strong practical benefit for a bootstrapped startup/buildedeveloper. Though it’s unclear how long this advantage lasts as products reach wider audiences and increased scrutiny.
  2. User Privacy Because of the regulatory arbitrage mentioned above, users do not need to complete onerous KYC requirements. For example, there’s no friction around selfies, government-issued IDs, SSNs, etc. Users can preserve much of their privacy and they don’t need to worry about their sensitive information being hacked, compromised, or leaked.
  3. Absolute control & custody This is really one of the great promises of crypto — users can become their own bank. Users can be in full control of their money. And they don’t need to bury it underground or hide it under a mattress. No dependence, reliance or trust in any third parties. Only the user herself can access and unlock the money.

Weaknesses

Now let’s examine some of the weaknesses.
  1. Knowledge & Education Most non-custodial products do not abstract away any of the blockchain complexity. In fact, they often expose more of it because the most loyal users are crypto geeks. Imagine how an average, non-crypto user feels when she starts seeing words like seed phrases, public & private keys, gas limits, transaction fees, blockchain explorers, hex addresses, and confirmation times. There is a lot for a user to learn and become educated on. That’s friction. The learning curve is very high and will always be a major blocker for adoption. We’ve talked about this in our Spreading Crypto series — to reach the masses, the crypto stuff needs to be in the background.
  2. User Experience It is currently impossible to create a smooth and performant user experience in non-custodial wallets or decentralized applications. Any interaction that requires a blockchain transaction will feel sluggish and slow. We built a messaging app on Ethereum and presented it at DevCon3 in Cancun. The technical constraints of blockchain technology were crushing to the user experience. We simply couldn’t create the real-time, modern messaging experience that users have come to expect from similar apps like Slack or WhatsApp. Until blockchains are closer in speed to web servers (which will be difficult given their decentralized nature), dApps will never be able to create the smooth user experience that the masses expect.
  3. Product Limitations Most non-custodial wallets today are based on Ethereum smart contracts. That means they are severely limited with the assets that they can support (only erc-20 tokens). Unless through synthetic assets (similar to Abra), these wallets cannot support massively popular assets like Bitcoin, XRP, Cardano, Litecoin, EOS, Tezos, Stellar, Cosmos, or countless others. There are exciting projects like tBTC trying to bring Bitcoin to Ethereum — but these experiments are still very, very early. Ethereum-based smart contract wallets are missing a huge part of the crypto-asset universe.
  4. Technical Complexity While developers are able to avoid a lot of regulatory complexity (see Strengths above), they are replacing it with increased technical complexity. Most non-custodial wallets are entirely dependent on smart contract technology which is still very experimental and early in development (see Insurance section of this DeFi use-cases post). Major bugs and major hacks do happen. Even recently, it was discovered that Argent had a “high severity vulnerability.” Fortunately, Argent fixed it and their users didn’t lose funds. The tools, frameworks, and best practices around smart contract technology are all still being established. Things can still easily go wrong, and they do.
  5. Loss of Funds Risk Beyond the technical risks mentioned above, with non-custodial wallets, it’s very easy for users to make mistakes. There is no “Forgot Password.” There is no customer support agent you can ping. There is no company behind it that can make you whole if you make a mistake and lose your money. You are on your own, just as CZ suggests. One wrong move and your money is all gone. If you lose your private key, there is no way to recover your funds. There are some new developments around social recovery, but that’s all still very experimental. This just isn’t the type of customer support experience people are used to. And it’s not a risk that most are willing to take.
  6. Integration with Fiat & Traditional Finance In today’s world, it’s still very hard to use crypto for daily spending (see Payments in our DeFi use-cases post). Hopefully, that will all change someday. In the meantime, if any of these non-custodial products hope to win in the broader consumer finance market, they will undoubtedly need to integrate with the legacy financial world — they need onramps (fiat-to-crypto deposit methods) and offramps (crypto-to-fiat withdraw/spend methods). As much as crypto-fanatics hate hearing it, you can’t expect people to jump headfirst into the new world unless there is a smooth transition, unless there are bridge technologies that help them arrive. This is why these fiat integrations are so important. Examples might be allowing ACH/Wire deposits (eg. via Plaid) or launching a debit card program for spend/withdraw. These fiat integrations are essential if the aim is to become the bank of the future. Doing any of this compliantly will require strong KYC/AML. So to achieve this use-case — integrating with traditional finance —all of the Strengths we mentioned above are nullified. There are no longer regulatory benefits. There are no longer privacy benefits (users need to upload KYC documents, etc). And users are no longer in complete control of their money.

Wrap Up

One of the great powers of crypto is that we no longer depend on banks. Anyone can store their wealth and have absolute control of their money. That’s made possible with these non-custodial wallets. It’s a wonderful thing.
I believe that the most knowledgeable and experienced crypto people (including myself) will always be active users of these applications. And as mentioned in this post, there will certainly be circumstances where these apps will be essential & even life-saving.
However, I do not believe this category of product is a major threat to Genesis Block to becoming the bank of the future.
They won’t win in the broader consumer finance market — mostly because I don’t believe that’s their target audience. These applications simply cannot produce the type of product experience that the masses require, want, or expect. The Weaknesses I’ve outlined above are just too overwhelming. The friction for mass-market consumers is just too much.

https://preview.redd.it/lp8dzxeh1lg51.png?width=800&format=png&auto=webp&s=03acdce545cd032f7e82b6665b001d7a06839557
The winning bank will be focused on solving real user problems and meeting user needs. Not slowed down by rigid idealism like censorship-resistance and absolute decentralization, as it is with most non-custodial wallets. The winning bank will be a world-class product that’s smooth, performant, and accessible. Not sluggish and slow, as it is with most non-custodial wallets. The winning bank will be one where blockchain & crypto is mostly invisible to end-users. Not front-and-center as it is with non-custodial wallets. The winning bank will be one managed and run by professionals who know exactly what they’re doing. Not DIY (Do It Yourself), as it is with non-custodial wallets.
So are these non-custodial wallets a threat to Genesis Block in winning the broader consumer finance market, and becoming the bank of the future?
No. They are designed for a very different audience.
------
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08-12 22:05 - 'Why Bitcoin Will Win: The Bearish Case for Ethereum' (self.Bitcoin) by /u/uncapslock removed from /r/Bitcoin within 207-217min

'''
Hi Everyone! If you were around for the 2017 bull cycle, you might remember me from:
[[link]6
With the advent of DeFi, I wanted to crystalize my thoughts on why Bitcoin will win in the end.

Why Bitcoin Will Win: The Bearish Case for Ethereum

Ethereum is the MySpace of decentralized finance. Hobbled together, scrappy, but provides an exciting glimpse into the future. We should be pleased with the new paradigms discovered through this experiment but should not expect it to be the de facto platform in a decade.
Ethereum has demonstrated intrinsic challenges that are insurmountable without an Ethereum 2. We have witnessed unauditability, scaling difficulties, centralization and high contract fees. Building second-layer solutions to make up for shortcomings is akin to patching cracks in the asphalt with duct tape.
In this piece, I’ll navigate why we should not confuse novelty of features for sustainable value, why Ethereum makes for a poor base layer, and what to expect in the decade ahead.
There will only be one base layer for digital scarcity of humanity and that is Bitcoin.

The “Bitcoin is money, Ethereum is apps” fallacy

There is a logical fallacy in arguing “Bitcoin is money, Ethereum is apps,” which draws a false equivalence between the value of money and apps. As any self-respecting financier knows, the value lies (quite literally) where wealth is stored.
“Applications are cheap. A store of wealth is expensive.”
Building applications is a solved problem.
We know how to recruit engineers, build organizations and assemble technical solutions. We have a bevy of technologies that provide affordances for user interfaces. We have best practices for effective engineering. We even have strategies for amplifying creativity during brainstorming.
The number of pages on CoinMarketCap.com is a testament to the commonality of applications.
What is not solved is building applications on top of a store of wealth.
In order to build applications on top of a store of wealth, you either appropriate an existing store of wealth and build on top of it (i.e. Plaid) or you build a new store of wealth (Bitcoin).
Building a digital store of wealth is so hard it has taken over half a century and is still not ready. The digital store of wealth is only ready when it stores a nontrivial portion portion of global wealth.
On August 11, 2020, MicroStrategy announced it had acquired 21,454 Bitcoin for $250 million. A single company bought the equivalent of all Bitcoin in Ethereum that day.
Building an application on Ethereum today is the worst of both worlds. It builds on a burgeoning new store of value with a tiny addressable market on top of a limited capacity network already showing strains.
The vast majority of global wealth is still outside of the system, waiting to designate a digital store of value.
Conceding that Bitcoin is the better store of value is conceding Bitcoin will be the disproportionate beneficiary of global wealth entering the system.

So where do applications fit in?

Imagine acquiring a bank. You are given a choice to either acquire the trillion dollars under management and no app or a smooth, slick app but not the financial assets.
It’s easier to make a new application where users are already present rather than move users to a new platform with an existing application. As we’ve seen in the previous section, most users will be on Bitcoin utilizing its value as a store of wealth.
“Applications will be built where wealth is stored.”
What we’ll see is the best ideas from current generation of DeFi applications (elastic supply, governance, fair distribution mechanisms, auditability) built into layer 2 solutions of Bitcoin that itself sits on top of multiple trillions of dollars of global wealth.
Why will this happen? Builders will note applications of value from the small pond of Ethereum and see a market opportunity to natively expose those features to the much larger accounts in Bitcoin, reaping proportionally higher revenue.

Why can’t we use Ethereum as a store of value?

“If native users of a platform are so important, why can’t we just use Ethereum as a store of value? After all, holders of Ethereum have seen much higher appreciation in value since its founding compared to Bitcoin.”
Here we refer back to the [“The Bullish Case for Bitcoin”]2 which lays out the core properties of money of which three critical areas Ethereum is weak against Bitcoin.

Verifiability

As we see in the indefatigable investigation by [Pierre Rochard]3 in his epic quest to audit Ethereum’s supply limit, verifying the total number of Ethereum is not a trivial task.
A number of supply adjustments had been made in node software instead of on-chain transactions, intermediate miner rewards calculated using uncles that are not finalized for a number of blocks, selfdestruct() that leaves ambiguity for token inactivity.
These factors make it impossible to have an objective measure without specifying an asterisk of the nuances appropriated for each method of calculation.
Lack of auditability makes Ethereum a nonstarter for firms desiring a store of value. Without an objective measure of supply comes an impossibility of assessing the value of your asset.
From measurement of the Ethereum supply through scripts, it has been hypothesized that there has been at least one inflation bug that has been exploited: [*[link]7

Scarcity

There is no set limit of Ethereum by design. From inception it was designed to be an inflationary currency which is essential as a utility token executing applications but is fatal for a store of value.
There is an ongoing effort to curtail Ethereum’s inflation to appease to its holders which will be to its detriment as use as an application platform.
This tension between being an appreciating digital asset and utilization as fuel is intrinsic to Ethereum and cannot be removed. When Ethereum prices go up by a factor of ten, only smart contracts that can provide commensurate proportional value will be viable.
“Using Ethereum as a store of value creates a perverse relationship with increasing contract fees that undermine its value as an application network.”
As the price rises further, we will see the majority of use cases today become priced out, adding platform risk where users will now need to worry whether they will be able to get their assets back out in the event of Ethereum appreciation.

Censorship Resistance

It is an open secret that Infura is the defacto backend for Ethereum. Running a full Ethereum node is known and accepted to be an arduous task with astronomical processor requirements.
This problem is getting worse, not better as the system struggles with transaction volume today, much less the several magnitudes of transactions needed in the coming decade.
The solution provided is running Ethereum 2 and implementing applications on a second layer of Ethereum. This shifts the conversation to if building a new base layer or building on a second layer is necessary, what benefit is there to retain Ethereum as a base layer?

A Look Back from 2030

When we look back to 2017–2021, we will remember this period as the primordial era of where creative entrepreneurs came together to experiment with the new paradigm of permission-less smart contracts.
We will see a meaningful portion of global wealth go into Bitcoin by 2024 raising assets under management to a trillion dollars. Companies will convert overseas holdings into Bitcoin to counter inflationary risk for sovereign currencies. Smaller nation-states will start to acquire a reserve of Bitcoin to counter dollar strength to pay off their dollar-denominated debt.
During this time, firms small and large will rush to build applications to service wealth stored in Bitcoin on layer 2 and layer 3 solutions. Many of these applications will be inspired by what is currently built on top of Ethereum but addressing a much larger market.
Through two more halvings by 2030, everyone will have a Bitcoin account providing both a store of value as well as a unified platform that provides the largest installed userbase for financial products. We'll be ending the decade with 10M per Bitcoin, (one magnitude increase each for the three halving periods: 2020-2024, 2024-2028, 2028-2032) with Bitcoin serving as the generational store of wealth for those with the foresight to stack sats and hodl.

Tips for Builders

You’re not late. In fact you’re incredibly early. We’re still building the store of value that will be the foundation to the financial apps that you’ll build. Ethereum is a nice environment for experimenting with new paradigms that are made possible through smart contracts.
But understand that the bulk of your future customers will be onboarding onto a different platform when they do arrive. There will be a bonanza period where we see thousands of companies and millions of retail users adopting Bitcoin.
It’ll be up to you to recognize the arbitrage opportunity to offer product features in native Bitcoin format to beat other products that must employ bridges to access wealth stored in Bitcoin.

About Me

For future writing, [you can follow me on Twitter at @uncapslock]5 .
This article is for information purposes only and is not intended to be investment advice.
'''
Why Bitcoin Will Win: The Bearish Case for Ethereum
Go1dfish undelete link
unreddit undelete link
Author: uncapslock
1: www.red*it.co***/Bi*coin/*om**n*s/6h4*1i/why_i*sol*_all_***e*h*reum_*oda**an*_convert*d_i*/ 2: medium.c*m/@*i*a*bo*apati/t*e*bu*l*sh*case-for-*it*oin*6ecc8*de*c* 3: tw*t*e**com/pierre_*o*hard 4: *w*tte*.***/GeistLight/st*tus/1*926*756*3801390** 5: t*itt**.*om/uncap**ock 6: ww**r**di**com*Bitcoin/comments/6h4**i/why\_*\_***d\*al*\_my*_eth*re*m\*today\*and*_*onve*te*\_it/**^1 7: twitter.com/*eistLi*h*/s*a*u*/*29*6475***801390***]^^4
Unknown links are censored to prevent spreading illicit content.
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Chromia - Blockchain of Blockchains That Has Staged To Revolutionize Decentralized Application Development

Blockchain has taken the world by storm. The tech may have been envisioned to power decentralized finance in Bitcoin, it's potential and use case had far exceeded such identity.
It has opened the possibility to develop trust and openness in a way that has never been expressed before.
However, like any new development, blockchain has many challenges that need to be addressed.
Firstly, existing protocols that power the initial set of blockchains are too slow to garner advanced real-world usage.
Their architectural build also implies they are unable to scale accordingly to meet application and usage demand.
Blockchains are renowned for their strong security and immutability, nonetheless, these factors rely solely on the type of protocol or consensus adopted, and in many cases, the consensus of a particular blockchain may fail to establish a secured environment that could be relied upon under factual circumstances.
On the developer end, developing and building blockchain applications is a nightmare many wanted to escape because most integrated blockchain programming languages are new with an unestablished root. This means programmers have to learn a new language from basics before they can start building on a blockchain network.
The hardest part is that almost each of every type and brand of blockchain has its unique programming language which as a result contributes to non-interoperability that led to a status quo of blockchains being called an "island of self-isolation".
An obvious solution to most of the aforementioned downsides is to start restructuring how blockchains are made by design and code.
The good news is that a blockchain project with a new root has already achieved the feat of addressing most of these problems by building a relational blockchain system governed by a management system termed "Postchain".
I am talking about Chromia blockchain network built by the ChromaWay development team.
Chromia
Chromia is a public blockchain with a relational database system build and design. What this means is that data can be structured and defined in any way by the builder of the system. This flexibility of data management allows for different usage scenarios.
This is a sweet pot for developers but what is more interesting is the ability to code and deploy applications in a seamless manner.
Chroma uses Postchain to oversee the operation of its blockchain network in conjunction with a flexible and easy-to-code programming language called RELL (Relational Language).
Great protocol design? Thumb up! Nice programming language... Interesting! But what about other challenges mentioned in the opening part of the post?
Hell yeah! A blockchain system cannot be duly considered if it can't scale and operate at a good speed.
Chromia takes this factor to heart and ensures its network is able to process transactions at a block rate of 2 seconds, which is more than enough to support most applications and commercial usage.
Blockchain Of Blockchains: Chromia Modular Configuration
One method spam is avoided on blockchain networks is through integrated fee structure, most times, this is charged directly from users. However, Chromia thinks this idea should be rewritten by instead charging Dapps directly for the operation they perform.
Consequently, and since most application usage differs from one type to another. This and many other implementations led to a modular blockchain design where each Dapp can reside on its own chain, dictate its own rule and usage and intended fee structure.
The Dapps in this case acts like side chains that are attached to the governing Chromia infrastructure. Each Dapp or side chain is independent but benefits from the security and laid facilities of the network.
Chromia adopted PBFT consensus to ensure consensus can be achieved under certain rules even if some node in the network cannot be relied upon at a time, thus, eliminating incidents such as 'one point of failure'.
An Infrastructure For A Wide Range Of Usage Scenario
Chromia launched its main net in Dec 2019, and moved from an experimental position to prove their dedication towards achieving their vision not just on paper but as a practical and working process.
Ever since their main net launch. The chain has seen different types of apps deploy on its network.
The network relational design also means Dapps with huge computational demand can work efficiently and seamlessly with any cause to worry.
Let's look at some of these Dapps.
Chromunity
A decentralized social media platform that leverages the advantage of the relational computational build of Chromia to bring about fantastic social and community user experience.
The advantages of Chromunity as a decentralized social platform is how users can control their data and interactions, vote for representatives that implement the will and voice of the community.
Chromunity features a Reddit-like design and interface with the ability to post short/long meaningful content to a wide range of community categories or specific ones.
These screenshots give a sneak peek into how the interactive user interface looks like.
Green Asset Wallet
This is the first enterprise Dapp to launch on the Chromia chain after its main net release.
Using the quote of how the project defines itself.
"Green Assets Wallet is the world’s first blockchain-based platform for easy validation and impact reporting of green bonds".
The product has many features that are designed to suit investor's needs. From real-time collaboration to ensuring optimum trust and transparency to security. The Dapp is ideal for green bonds operations that look to make issuer and investors' lives an easier one.
Investors have direct access to trusted green bond information, metrics, and data.
Green asset wallet at allows investors to make new investment discoveries through search criteria, compare, benchmark, and follow up on investment opportunities".
Issuers are able to operate with an independent, cost-efficient, and structured system, and provide investors with impact investment opportunities and report on achievements.
Mines Of Dalarnia
Is "an action-adventure platform-mining game where the player controls a character and guides them through various blocks of earth, to discover and collect minerals of multiple rarities. Includes a blockchain based real-estate market".
Chromia transaction speed and computational efficiency make it an ideal platform to build decentralized or blockchain games of different kinds.
Play Mines Of Dalarnia
Conclusion
Chromia combines many groundbreaking features that purport it as a new generation blockchain and set it out among the crowd.
It's easy to code programming language, Postchain consortium, relational database system express qualities that fit different needs of decentralized applications and their operations. All of which state the chain strength and confidence of usage.
Under the governance of ChromaWay - an organization of tech experts and geeks. Chromia is expected to continue on an upward positive momentum.
Learn more about the project from it's official website
Their Telegram group chat is a good place to start interacting with the community.
Chromia has a Twitter presence and their Whitepaper is a good reference and tool to have a good overview of the project mission and vision at large.
submitted by Sidonpee to Teamchromia [link] [comments]

Polkadot Launch AMA Recap

Polkadot Launch AMA Recap

The Polkadot Telegram AMA below took place on June 10, 2020

https://preview.redd.it/4ti681okap951.png?width=4920&format=png&auto=webp&s=e21f6a9a276d35bb9cdec59f46744f23c37966ef
AMA featured:
Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation
Logan Saether, Technical Education, Web3 Foundation
Will Pankiewicz, Master of Validators, Parity Technologies
Moderated by Dan Reecer, Community and Growth, Polkadot & Kusama at Web3 Foundation

Transcription compiled by Theresa Boettger, Polkadot Ambassador:

Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation

Dan: Hey everyone, thanks for joining us for the Polkadot Launch AMA. We have Dieter Fishbein (Head of Ecosystem Development, our business development team), Logan Saether (Technical Education), and Will Pankiewicz (Master of Validators) joining us today.
We had some great questions submitted in advance, and we’ll start by answering those and learning a bit about each of our guests. After we go through the pre-submitted questions, then we’ll open up the chat to live Q&A and the hosts will answer as many questions as they can.
We’ll start off with Dieter and ask him a set of some business-related questions.

Dieter could you introduce yourself, your background, and your role within the Polkadot ecosystem?

Dieter: I got my start in the space as a cryptography researcher at the University of Waterloo. This is where I first learned about Bitcoin and started following the space. I spent the next four years or so on the investment team for a large asset manager where I primarily focused on emerging markets. In 2017 I decided to take the plunge and join the space full-time. I worked at a small blockchain-focused VC fund and then joined the Polkadot team just over a year ago. My role at Polkadot is mainly focused on ensuring there is a vibrant community of projects building on our technology.

Q: Adoption of Polkadot of the important factors that all projects need to focus on to become more attractive to the industry. So, what is Polkadot's plan to gain more Adoption? [sic]

A (Dieter): Polkadot is fundamentally a developer-focused product so much of our adoption strategy is focused around making Polkadot an attractive product for developers. This has many elements. Right now the path for most developers to build on Polkadot is by creating a blockchain using the Substrate framework which they will later connect to Polkadot when parachains are enabled. This means that much of our adoption strategy comes down to making Substrate an attractive tool and framework. However, it’s not just enough to make building on Substrate attractive, we must also provide an incentive to these developers to actually connect their Substrate-based chain to Polkadot. Part of this incentive is the security that the Polkadot relay chain provides but another key incentive is becoming interoperable with a rich ecosystem of other projects that connect to Polkadot. This means that a key part of our adoption strategy is outreach focused. We go out there and try to convince the best projects in the space that building on our technology will provide them with significant value-add. This is not a purely technical argument. We provide significant support to projects building in our ecosystem through grants, technical support, incubatoaccelerator programs and other structured support programs such as the Substrate Builders Program (https://www.substrate.io/builders-program). I do think we really stand out in the significant, continued support that we provide to builders in our ecosystem. You can also take a look at the over 100 Grants that we’ve given from the Web3 Foundation: https://medium.com/web3foundation/web3-foundation-grants-program-reaches-100-projects-milestone-8fd2a775fd6b

Q: On moving forward through your roadmap, what are your most important next priorities? Does the Polkadot team have enough fundamentals (Funds, Community, etc.) to achieve those milestones?

A (Dieter): I would say the top priority by far is to ensure a smooth roll-out of key Polkadot features such as parachains, XCMP and other key parts of the protocol. Our recent Proof of Authority network launch was only just the beginning, it’s crucial that we carefully and successfully deploy features that allow builders to build meaningful technology. Second to that, we want to promote adoption by making more teams aware of Polkadot and how they can leverage it to build their product. Part of this comes down to the outreach that I discussed before but a major part of it is much more community-driven and many members of the team focus on this.
We are also blessed to have an awesome community to make this process easier 🙂

Q: Where can a list of Polkadot's application-specific chains can be found?

A (Dieter): The best list right now is http://www.polkaproject.com/. This is a community-led effort and the team behind it has done a terrific job. We’re also working on providing our own resource for this and we’ll share that with the community when it’s ready.

Q: Could you explain the differences and similarities between Kusama and Polkadot?

A (Dieter): Kusama is fundamentally a less robust, faster-moving version of Polkadot with less economic backing by validators. It is less robust since we will be deploying new technology to Kusama before Polkadot so it may break more frequently. It has less economic backing than Polkadot, so a network takeover is easier on Kusama than on Polkadot, lending itself more to use cases without the need for bank-like security.
In exchange for lower security and robustness, we expect the cost of a parachain lease to be lower on Kusama than Polkadot. Polkadot will always be 100% focused on security and robustness and I expect that applications that deal with high-value transactions such as those in the DeFi space will always want a Polkadot deployment, I think there will be a market for applications that are willing to trade cheap, high throughput for lower security and robustness such as those in the gaming, content distribution or social networking sectors. Check out - https://polkadot.network/kusama-polkadot-comparing-the-cousins/ for more detailed info!

Q: and for what reasons would a developer choose one over the other?

A (Dieter): Firstly, I see some earlier stage teams who are still iterating on their technology choosing to deploy to Kusama exclusively because of its lower-stakes, faster moving environment where it will be easier for them to iterate on their technology and build their user base. These will likely encompass the above sectors I identified earlier. To these teams, Polkadot becomes an eventual upgrade path for them if, and when, they are able to perfect their product, build a larger community of users and start to need the increased stability and security that Polkadot will provide.
Secondly, I suspect many teams who have their main deployment on Polkadot will also have an additional deployment on Kusama to allow them to test new features, either their tech or changes to the network, before these are deployed to Polkadot mainnet.

Logan Saether, Technical Education, Web3 Foundation

Q: Sweet, let's move over to Logan. Logan - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Logan): My initial involvement in the industry was as a smart contract engineer. During this time I worked on a few projects, including a reboot of the Ethereum Alarm Clock project originally by Piper Merriam. However, I had some frustrations at the time with the limitations of the EVM environment and began to look at other tools which could help me build the projects that I envisioned. This led to me looking at Substrate and completing a bounty for Web3 Foundation, after which I applied and joined the Technical Education team. My responsibilities at the Technical Education team include maintaining the Polkadot Wiki as a source of truth on the Polkadot ecosystem, creating example applications, writing technical documentation, giving talks and workshops, as well as helping initiatives such as the Thousand Validator Programme.

Q: The first technical question submitted for you was: "When will an official Polkadot mobile wallet appear?"

A (Logan): There is already an “official” wallet from Parity Technologies called the Parity Signer. Parity Signer allows you to keep your private keys on an air-gapped mobile device and to interactively sign messages using web interfaces such as Polkadot JS Apps. If you’re looking for something that is more of an interface to the blockchain as well as a wallet, you might be interested in PolkaWallet which is a community team that is building a full mobile interface for Polkadot.
For more information on Parity Signer check out the website: https://www.parity.io/signe

Q: Great thanks...our next question is: If someone already developed an application to run on Ethereum, but wants the interoperability that Polkadot will offer, are there any advantages to rebuilding with Substrate to run as a parachain on the Polkadot network instead of just keeping it on Ethereum and using the Ethereum bridge for use with Polkadot?

A (Logan): Yes, the advantage you would get from building on Substrate is more control over how your application will interact with the greater Polkadot ecosystem, as well as a larger design canvas for future iterations of your application.
Using an Ethereum bridge will probably have more cross chain latency than using a Polkadot parachain directly. The reason for this is due to the nature of Ethereum’s separate consensus protocol from Polkadot. For parachains, messages can be sent to be included in the next block with guarantees that they will be delivered. On bridged chains, your application will need to go through more routes in order to execute on the desired destination. It must first route from your application on Ethereum to the Ethereum bridge parachain, and afterward dispatch the XCMP message from the Polkadot side of the parachain. In other words, an application on Ethereum would first need to cross the bridge then send a message, while an application as a parachain would only need to send the message without needing to route across an external bridge.

Q: DOT transfers won't go live until Web3 removes the Sudo module and token holders approve the proposal to unlock them. But when will staking rewards start to be distributed? Will it have to after token transfers unlock? Or will accounts be able to accumulate rewards (still locked) once the network transitions to NPoS?

A (Logan): Staking rewards will be distributed starting with the transition to NPoS. Transfers will still be locked during the beginning of this phase, but reward payments are technically different from the normal transfer mechanism. You can read more about the launch process and steps at http://polkadot.network/launch-roadmap

Q: Next question is: I'm interested in how Cumulus/parachain development is going. ETA for when we will see the first parachain registered working on Kusama or some other public testnet like Westend maybe?

A (Logan): Parachains and Cumulus is a current high priority development objective of the Parity team. There have already been PoC parachains running with Cumulus on local testnets for months. The current work now is making the availability and validity subprotocols production ready in the Polkadot client. The best way to stay up to date would be to follow the project boards on GitHub that have delineated all of the tasks that should be done. Ideally, we can start seeing parachains on Westend soon with the first real parachains being deployed on Kusama thereafter.
The projects board can be viewed here: https://github.com/paritytech/polkadot/projects
Dan: Also...check out Basti's tweet from yesterday on the Cumulus topic: https://twitter.com/bkchstatus/1270479898696695808?s=20

Q: In what ways does Polkadot support smart contracts?

A (Logan): The philosophy behind the Polkadot Relay Chain is to be as minimal as possible, but allow arbitrary logic at the edges in the parachains. For this reason, Polkadot does not support smart contracts natively on the Relay Chain. However, it will support smart contracts on parachains. There are already a couple major initiatives out there. One initiative is to allow EVM contracts to be deployed on parachains, this includes the Substrate EVM module, Parity’s Frontier, and projects such as Moonbeam. Another initiative is to create a completely new smart contract stack that is native to Substrate. This includes the Substrate Contracts pallet, and the ink! DSL for writing smart contracts.
Learn more about Substrate's compatibility layer with Ethereum smart contracts here: https://github.com/paritytech/frontier

Will Pankiewicz, Master of Validators, Parity Technologies


Q: (Dan) Thanks for all the answers. Now we’ll start going through some staking questions with Will related to validating and nominating on Polkadot. Will - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Will): Sure thing. Like many others, Bitcoin drew me in back in 2013, but it wasn't until Ethereum came that I took the deep dive into working in the space full time. It was the financial infrastructure aspects of cryptocurrencies I was initially interested in, and first worked on dexes, algorithmic trading, and crypto funds. I really liked the idea of "Generalized Mining" that CoinFund came up with, and started to explore the whacky ways the crypto funds and others can both support ecosystems and be self-sustaining at the same time. This drew me to a lot of interesting experiments in what later became DeFi, as well as running validators on Proof of Stake networks. My role in the Polkadot ecosystem as “Master of Validators” is ensuring the needs of our validator community get met.

Q: Cool thanks. Our first community question was "Is it still more profitable to nominate the validators with lesser stake?"

A (Will): It depends on their commission, but generally yes it is more profitable to nominate validators with lesser stake. When validators have lesser stake, when you nominate them this makes your nomination stake a higher percentage of total stake. This means when rewards get distributed, it will be split more favorably toward you, as rewards are split by total stake percentage. Our entire rewards scheme is that every era (6 hours in Kusama, 24 hours in Polkadot), a certain amount of rewards get distributed, where that amount of rewards is dependent on the total amount of tokens staked for the entire network (50% of all tokens staked is currently optimal). These rewards from the end of an era get distributed roughly equally to all validators active in the validator set. The reward given to each validator is then split between the validators and all their nominators, determined by the total stake that each entity contributes. So if you contribute to a higher percentage of the total stake, you will earn more rewards.

Q: What does priority ranking under nominator addresses mean? For example, what does it mean that nominator A has priority 1 and nominator B has priority 6?

A (Will): Priority ranking is just the index of the nomination that gets stored on chain. It has no effect on how stake gets distributed in Phragmen or how rewards get calculated. This is only the order that the nominator chose their validators. The way that stake from a nominator gets distributed from a nominator to validators is via Phragmen, which is an algorithm that will optimally put stake behind validators so that distribution is roughly equal to those that will get in the validator set. It will try to maximize the total amount at stake in the network and maximize the stake behind minimally staked validators.

Q: On Polkadot.js, what does it mean when there are nodes waiting on Polkadot?

**A (Will):**In Polkadot there is a fixed validator set size that is determined by governance. The way validators get in the active set is by having the highest amount of total stake relative to other validators. So if the validator set size is 100, the top 100 validators by total stake will be in the validator set. Those not active in the validator set will be considered “waiting”.

Q: Another question...Is it necessary to become a waiting validator node right now?

A (Will): It's not necessary, but highly encouraged if you actively want to validate on Polkadot. The longer you are in the waiting tab, the longer you get exposure to nominators that may nominate you.

Q: Will current validators for Kusama also validate for Polkadot? How strongly should I consider their history (with Kusama) when looking to nominate a good validator for DOTs?

A (Will): A lot of Kusama validators will also be validators for Polkadot, as KSM was initially distributed to DOT holders. The early Kusama Validators will also likely be the first Polkadot validators. Being a Kusama validator should be a strong indicator for who to nominate on Polkadot, as the chaos that has ensued with Kusama has allowed validators to battle test their infrastructure. Kusama validators by now are very familiar with tooling, block explorers, terminology, common errors, log formats, upgrades, backups, and other aspects of node operation. This gives them an edge against Polkadot validators that may be new to the ecosystem. You should strongly consider well known Kusama validators when making your choices as a nominator on Polkadot.

Q: Can you go into more details about the process for becoming a DOT validator? Is it similar as the KSM 1000 validators program?

A (Will): The Process for becoming a DOT validators is first to have DOTs. You cannot be a validator without DOTs, as DOTs are used to pay transaction fees, and the minimum amount of DOTs you need is enough to create a validate transaction. After obtaining enough DOTs, you will need to set up your validator infrastructure. Ideally you should have a validator node with specs that match what we call standard hardware, as well as one or more sentry nodes to help isolate the validator node from attacks. After the infrastructure is up and running, you should have your Polkadot accounts set up right with a stash bonded to a controller account, and then submit a validate transaction, which will tell the network your nodes are ready to be a part of the network. You should then try and build a community around your validator to let others know you are trustworthy so that they will nominate you. The 1000 validators programme for Kusama is a programme that gives a certain amount of nominations from the Web3 Foundation and Parity to help bootstrap a community and reputation for validators. There may eventually be a similar type of programme for Polkadot as well.
Dan: Thanks a lot for all the answers, Will. That’s the end of the pre-submitted questions and now we’ll open the chat up to live Q&A, and our three team members will get through as many of your questions as possible.
We will take questions related to business development, technology, validating, and staking. For those wondering about DOT:
DOT tokens do not exist yet. Allocations of Polkadot's native DOT token are technically and legally non-transferable. Hence any publicized sale of DOTs is unsanctioned by Web3 Foundation and possibly fraudulent. Any official public sale of DOTs will be announced on the Web3 Foundation website. Polkadot’s launch process started in May and full network decentralization later this year, holders of DOT allocations will determine issuance and transferability. For those who participated in previous DOT sales, you can learn how to claim your DOTs here (https://wiki.polkadot.network/docs/en/claims).


Telegram Community Follow-up Questions Addressed Below


Q: Polkadot looks good but it confuses me that there are so many other Blockchain projects. What should I pay attention in Polkadot to give it the importance it deserves? What are your planning to achieve with your project?

A (Will): Personally, what I think differentiates it is the governance process. Coordinating forkless upgrades and social coordination helps stand it apart.
A (Dieter): The wiki is awesome - https://wiki.polkadot.network/

Q: Over 10,000 ETH paid as a transaction fee , what if this happens on Polkadot? Is it possible we can go through governance to return it to the owner?

A: Anything is possible with governance including transaction reversals, if a network quorum is reached on a topic.
A (Logan): Polkadot transaction fees work differently than the fees on Ethereum so it's a bit more difficult to shoot yourself in the foot as the whale who sent this unfortunate transaction. See here for details on fees: https://w3f-research.readthedocs.io/en/latest/polkadot/Token%20Economics.html?highlight=transaction%20fees#relay-chain-transaction-fees-and-per-block-transaction-limits
However, there is a tip that the user can input themselves which they could accidentally set to a large amount. In this cases, yes, they could proposition governance to reduce the amount that was paid in the tip.

Q: What is the minimum ideal amount of DOT and KSM to have if you want to become a validator and how much technical knowledge do you need aside from following the docs?

A (Will): It depends on what the other validators in the ecosystem are staking as well as the validator set size. You just need to be in the top staking amount of the validator set size. So if its 100 validators, you need to be in the top 100 validators by stake.

Q: Will Web3 nominate validators? If yes, which criteria to be elected?

A (Will): Web 3 Foundation is running programs like the 1000 validators programme for Kusama. There's a possibility this will continue on for Polkadot as well after transfers are enabled. https://thousand-validators.kusama.network/#/
You will need to be an active validator to earn rewards. Only those active in the validator set earn rewards. I would recommend checking out parts of the wiki: https://wiki.polkadot.network/docs/en/maintain-guides-validator-payout

Q: Is it possible to implement hastables or dag with substrate?

A (Logan): Yes.

Q: Polkadot project looks very futuristic! But, could you tell us the main role of DOT Tokens in the Polkadot Ecosystem?

A (Dan): That's a good question. The short answer is Staking, Governance, Bonding. More here: http://polkadot.network/dot-token

Q: How did you manage to prove that the consensus protocol is safe and unbreakable mathematically?

A (Dieter): We have a research teams of over a dozen scientists with PhDs and post-docs in cryptography and distributed computing who do thorough theoretical analyses on all the protocols used in Polkadot

Q: What are the prospects for NFT?

A: Already being built 🙂

Q: What will be Polkadot next roadmap for 2020 ?

A (Dieter): Building. But seriously - we will continue to add many more features and upgrades to Polkadot as well as continue to strongly focus on adoption from other builders in the ecosystem 🙂
A (Will): https://polkadot.network/launch-roadmap/
This is the launch roadmap. Ideally adding parachains and xcmp towards the end of the year

Q: How Do you stay active in terms of marketing developments during this PANDEMIC? Because I'm sure you're very excited to promote more after this settles down.

A (Dan): The main impact of covid was the impact on in-person events. We have been very active on Crowdcast for webinars since 2019, so it was quite the smooth transition to all-online events. You can see our 40+ past event recordings and follow us on Crowdcast here: https://www.crowdcast.io/polkadot. If you're interested in following our emails for updates (including online events), subscribe here: https://info.polkadot.network/subscribe

Q: Hi, who do you think is your biggest competitor in the space?

A (Dan): Polkadot is a metaprotocol that hasn't been seen in the industry up until this point. We hope to elevate the industry by providing interoperability between all major public networks as well as private blockchains.

Q: Is Polkadot a friend or competitor of Ethereum?

A: Polkadot aims to elevate the whole blockchain space with serious advancements in interoperability, governance and beyond :)

Q: When will there be hardware wallet support?

A (Will): Parity Signer works well for now. Other hardware wallets will be added pretty soon

Q: What are the attractive feature of DOT project that can attract any new users ?

A: https://polkadot.network/what-is-polkadot-a-brief-introduction/
A (Will): Buidling parachains with cross chain messaging + bridges to other chains I think will be a very appealing feature for developers

Q: According to you how much time will it take for Polkadot to get into mainstream adoption and execute all the plans set for this project?

A: We are solving many problems that have held back the blockchain industry up until now. Here is a summary in basic terms:
https://preview.redd.it/ls7i0bpm8p951.png?width=752&format=png&auto=webp&s=a8eb7bf26eac964f6b9056aa91924685ff359536

Q: When will bitpie or imtoken support DOT?

A: We are working on integrations on all the biggest and best wallet providers. ;)

Q: What event/call can we track to catch a switch to nPOS? Is it only force_new_era call? Thanks.

A (Will): If you're on riot, useful channels to follow for updates like this are #polkabot:matrix.org and #polkadot-announcements:matrix.parity.io
A (Logan): Yes this is the trigger for initiating the switch to NPoS. You can also poll the ForceEra storage for when it changes to ForceNew.

Q: What strategy will the Polkadot Team use to make new users trust its platform and be part of it?

A (Will): Pushing bleeding edge cryptography from web 3 foundation research
A (Dan): https://t.me/PolkadotOfficial/43378

Q: What technology stands behind and What are its advantages?

A (Dieter): Check out https://polkadot.network/technology/ for more info on our tech stack!

Q: What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

A (Will): Governance I see as a huge problem. For example upgrading Bitcoin and making decisions for changing things is a very challenging process. We have robust systems of on-chain governance to help solve these coordination problems

Q: How involved are the Polkadot partners? Are they helping with the development?

A (Dieter): There are a variety of groups building in the Polkadot ecosystem. Check out http://www.polkaproject.com/ for a great list.

Q: Can you explain the role of the treasury in Polkadot?

A (Will): The treasury is for projects or people that want to build things, but don't want to go through the formal legal process of raising funds from VCs or grants or what have you. You can get paid by the community to build projects for the community.
A: There’s a whole section on the wiki about the treasury and how it functions here https://wiki.polkadot.network/docs/en/mirror-learn-treasury#docsNav

Q: Any plan to introduce Polkadot on Asia, or rising market on Asia?

**A (Will):**We're globally focused

Q: What kind of impact do you expect from the Council? Although it would be elected by token holders, what kind of people you wish to see there?

A (Will): Community focused individuals like u/jam10o that want to see cool things get built and cool communities form

If you have further questions, please ask in the official Polkadot Telegram channel.
submitted by dzr9127 to dot [link] [comments]

BCH Scaling for the Globe: Bitcoin Cash 2020 Forkday Celebration and Online Conference 1 Aug 2020 11:00 UTC

Bitcoin Cash celebrates its third birthday this 1 Aug 2020 as censorship-resistant peer-to-peer electronic cash for the world that actually scales.
In celebration, an online conference is being held from 1 Aug 2020 11:00 UTC / 13:00 CEST / 19:00 Beijing / 07:00 New York titled “BCH Scaling for the Globe: Bitcoin Cash 2020 ForkDay Celebration”.
For full information, visit and share BitcoinCash.org/2020forkday.html. More details are coming soon. Follow @Bitcoin_ABC or @BitcoinCash on Twitter or get weekly email updates by signing up here.
Our goal is to get the Bitcoin Cash ecosystem excited about building the future of Bitcoin Cash, and to celebrate BCH’s third birthday.

Want to contribute?

Do you want to give a talk? Organize a panel discussion? Or propose some other creative use of a 30- or 60-minute time slot? Please fill out this onboarding form and let us know your proposal.
Fill out the speaker and sponsor onboarding form here: https://forms.gle/4AupQ5SqQb2WnZ9o6
Get the full details at: https://www.bitcoincash.org/2020forkday.html
Let's build a positive, exciting event that attracts new builders to Bitcoin Cash!
submitted by georgedonnelly to Bitcoincash [link] [comments]

Crypto-Powered: 10 Points that Highlight the Magic of DeFi

Crypto-Powered: 10 Points that Highlight the Magic of DeFi
Most financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain?
https://reddit.com/link/hvwzrq/video/2vwr3t2tofc51/player
This is the final post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Earlier in this series, we looked at some of the most promising DeFi use-cases already in the wild. We explored categories like lending, investment, insurance, stablecoins, payments, and more. And before that, we gave a primer on Bitcoin, Ethereum, and DeFi (decentralized finance).
So now that we’ve gone a little deeper down the crypto rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why does any of it matter?
Most of the financial services offered by DeFi protocols already exist in the real world. So why does it need to be decentralized or on a blockchain? What’s the big deal?
Today we go through 10 points that highlight the magic of DeFi, and why it matters. And hopefully, it becomes clear just how big of an unfair advantage this technology is for Genesis Block. It’s our superpower as we compete against big banks and fintech unicorns. Alright, let’s dive in!

1. Global Pipes & Bridges

In traditional finance, each country or region has its own currency, infrastructure, and regulations. With blockchain technology and more specifically DeFi, the world is instantly connected. These decentralized protocols serve as the pipes and plumbing that plug the different economies together.
The internet completely broke down the walls & borders for information and news. DeFi is doing the same thing, but now for money, commerce, and financial markets. We’re now part of a global, digital marketplace that can finally transact with each other— there’s a common set of rules and protocols that transcend cultures, languages, and borders.
Jack Dorsey recently shared his own bullish insights on this future.

2. Efficient Markets & Liquidity

While the crypto ecosystem is still small when compared to traditional financial markets, it is growing quickly. As participation continues to mature, it will unlock enormous liquidity in the global markets.
Imagine the possibilities for mostly illiquid markets like real estate, collectibles, or private company stock.
This creates new opportunities for people. Imagine a farmer in Mexico helping a young family in Florida buy their first home. Or a coal worker in China participating in micro-finance loans in Africa. With liquid markets, they can easily swap in and out of investments depending on their financial situations. They won’t have to worry about long periods of no liquidity — which traditionally only favored the wealthy.
https://preview.redd.it/l1fe8lgg8fc51.png?width=700&format=png&auto=webp&s=9b404c0f2c06916af51198a7e096cd2e4b5d067c
Additionally, more liquid markets lead to great efficiencies. Defi, like the internet before, reduces transaction costs to the bare minimum — just the tech/infrastructure costs. The high cost of participation is removed.
This new, unlocked liquidity will lead to a much more efficient, vibrant, and healthy global economy.

3. Earning Opportunities & Value Creation

Basic crypto allows you to move and store value. With many of these DeFi protocols, you can actually create and earn value. You can share in the upside and success of these new micro-economies by earning tokens for your contributions.
https://i.redd.it/t0e61g3l8fc51.gif
For example, with DeFi protocols like Maker or UMA, you can be rewarded for voting and participating in high-level protocol decisions. With Synthetix, Compound, and Uniswap you can be rewarded for providing liquidity to the network. With Cosmos or Tezos (and soon Ethereum), you can be rewarded for helping keep the network stable and secure.
These new decentralized protocols and the work required to grow and cultivate them can be incredible earning opportunities for people all over the world. Value isn’t just moving, it’s being created and growing. This is an entirely new paradigm for work and earning income.
It’s actually really incredible to think about.

4. Equal Access & Economic Freedom

Because DeFi protocols are decentralized and on a blockchain, there are no gatekeepers. No government or bank or corporation can censor these protocols. Everyone has equal access.
You can be a user who needs financial services. You can be an entrepreneur who has a great idea and decide to launch your own protocol. You can be a worker who wants to earn income by helping and contributing to these new micro-economies. All options are available. Nobody can stop you.
People all over the world — whether from a favela in Rio or living under oppression by an authoritarian regime — can participate in this new, digital, permissionless global economy. This creates more economic freedom, which changes the world.

5. Composability & Interoperability

Many of these DeFi protocols leverage other DeFi protocols. They are like lego pieces — you can mix, match, connect, combine… and create an entirely new, exciting thing! This is called composability and it’s one of DeFi’s greatest strengths.
As Genesis Block decides to add additional features (more financial services), it becomes much easier because most of these protocols are modular and integrate nicely.
https://preview.redd.it/1btq6wdn8fc51.png?width=800&format=png&auto=webp&s=a17da95746da9dcf9611e68c74e5b489c9b1e6b6

6. Regulatory Windows

While cryptocurrency like Bitcoin is starting to become more regulated in developed countries, many of these newer decentralized technologies have not, like DeFi (financial services built on smart contracts).
This technology is at the bleeding-edge of innovation. It’s a new frontier that is being explored and developed at an incredibly fast pace. As a result, most governments around the world have not yet fleshed out how or if it will be regulated. For many countries around the world with fewer resources and less-developed regulatory infrastructure, it would be dizzying to even try.
https://reddit.com/link/hvwzrq/video/mkr89t9y8fc51/player
This creates a unique window of opportunity for builders and entrepreneurs. They won’t get bogged down by some of the outdated laws that slow them down in legacy finance.
For updates on crypto regulation in the US, CoinCenter is a great resource. So far, US regulatory focus has just been on cryptocurrency or securities more generally.

7. Decentralized Governance

The companies behind top DeFi protocols like Compound and Maker have relinquished their power and turned it over to the community. The community of token holders are now in charge of proposing, approving, and voting for decisions and updates in the protocol. This is called decentralized governance.
Of course, not all protocols are truly decentralized in their management or governance. But this is a trend we’re seeing more and more of. This more democratic style of governance creates a system of checks and balances, hopefully leading to a more stable, secure, and resilient protocol.
There’s a great post recently from Jesse Walden where he describes this as The Ownership Economy.
https://preview.redd.it/7gwjwjfp8fc51.png?width=800&format=png&auto=webp&s=203e6ceb16ceb7461a3d2da373330964e820d97e

8. User Interface Flexibility

Because these protocols are low-level, there can be a variety of product experiences, interfaces, and designs built around them. It’s similar to interacting with web APIs, except these are smart contracts on a blockchain.
If you don’t like the design of an app that interacts with a specific protocol, you can build your own.

9. Transparency & Auditability

These protocols are on the blockchain for anyone to inspect, analyze, and review. This transparency can create more trust and confidence for users. Anyone can discover a bug or whistle-blow malfeasance.
In the real world, bank customers typically have no idea what’s happening under the hood. It’s a complete black hole. In DeFi, the code is open-source. You can verify it’s doing exactly what they say it is.

10. Autonomous & Open 24/7

While the developers can sometimes update the protocol or fix a bug, these decentralized applications are not managed day to day by a company or its employees. These smart contracts run independently and automatically on the blockchain — enforced by policies and rules written in the code. DeFi protocols aren’t closed on weekends or bank holidays.
Can you imagine a bank that was run by robots and open 24/7. That’s DeFi.
---
Hopefully, it’s becoming crystal clear that a crypto-native company — if it can substantially leverage these game-changing DeFi protocols — will win the consumer finance market. It will disrupt Wells Fargo, Goldman, and Bank of America. It will become the bank of the future.
Which crypto-native company is best positioned to win? Who can abstract away the complexity, deliver a world-class product experience, and take it to the world?
We obviously believe it’s us at Genesis Block. Time will tell.
I hope your imagination is running wild with possibilities like mine is. The potential of this tech is incredible. When you consider both the broad spectrum of financial use-cases that DeFi offers and the enormous value that is unlocked through these protocols (as outlined in today’s post), you can see just how big of an unfair advantage this is for Genesis Block.
As long as we’re building on this foundation, we’re out here playing 3d Chess while big banks & fintech companies are playing Checkers.
This is mic-drop weaponry. These are superpowers. This is what it means to be a digital bank that’s powered by blockchain technology and decentralized protocols. This is what it means to be crypto-powered.
https://preview.redd.it/qxohn09s8fc51.png?width=800&format=png&auto=webp&s=795f9fe6b6d82d29728b7f52da663214ce0831f0
------
Other Ways to Consume Today's Episode:
Follow our social channels: https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

A Guide to Marketing NavCoin - Done In 15mins A Day

A Guide To Marketing NavCoin

Ok. So over the last year or so, I've seen some proposals to run marketing campaigns for NavCoin. These are cool and all, but they're ultimately going to be drops in the ocean.
Marketing has changed. Running 'marketing campaigns' is an old school mentality.
So here's my approach at giving you all a guide on how we should be marketing NavCoin. And spoiler alert: it involves each and every one of you.
One note first:
NO ONE SHOULD BE PAYING FOR MARKETING. If people ask for funds from the community fund - be very sceptical. They're going to promise the world, but not give much value back. And most of the paid advertising options in crypto are scams.
We're in a new world where most of the traditional digital marketing channels won't work well (SEO, Google Ads, Facebook Ads, etc).
In this stage of the market - people will only search for us if they know us, but no one knows us. Most people don't know NavCoin (yet...). So we have to find where the conversations are happening online, and be a part of them. We're not going to take over the world through sticker campaigns.
So what should we be doing? The new way of marketing is through building audiences. We don't have the option to build a new Facebook/Discord/Google (good luck with that...). And we shouldn't be trying to pay Facebook/Google/Reddit to get in front of crypto users faces - that's not scalable. So what do we need to do? We need to build it organically. We need to build audiences.
What I'm going to talk you through is an approach for members of our community to build audiences now, so that when the next wave comes, we'll be in a good place to capture attention that comes from those all-time highs...

But I don't have access to the NavCoin social accounts! How can I build an audience?
For this to work - it needs to NOT come from the NavCoin account. The NavCoin account should be dedicated to just focusing on publishing updates/news/alerts for the network. It's not going to grow us a massive audience organically.

But why should I put this effort for NavCoin?
You're not doing this for NavCoin. You're doing it for yourself. NavCoin will benefit as a side effect. By building an audience, you give yourself leverage. You create a brand for yourself. You unlock opportunities in the future that aren't to do with NavCoin.
The good news: It's easier than ever to build an audience. You don't even need to be an amazing writer. You just need to be smart, not be spammy, share interesting perspectives, don't sell out, and post on a regular basis.

Who are you to say what will work or not?
I've been involved in a few crypto's for the last 5 years, and I genuinely want to see NavCoin succeed. NavCoin has one of the most solid foundations - a very smart, and very dedicated team that believe in privacy, and believe in NavCoin.

So... Here's What To Do

The basic premise for building an audience is fairly simple. We need to find where our target users are and share interesting content to grow our user base. But the most important thing is to not come across as a shill! If all you do is gush about how amazing NavCoin is - no one is going to follow you.
Look - I love NavCoin. A lot. But it's got a long way to go, and pretending it's amazing is just fake. It's got huge potential - definitely. That's why we're all invested. But we have to build that vision first.
Now lots of people have crypto accounts on Twitter, etc - so how do we grow our audiences? Let me give you a step by step formula for what you need to be doing...

First - Where Should I Be Signed Up?

In my opinion - these are the top channels for crypto:
Reddit is meh, but give it a shot if you've got time. It's good for communities, but all the 'general crypto' subreddits are moderated to hell. You can be sure they're controlling which coins get shilled, and keeping the competitors out.
Facebook Groups and Discord allow you to post content. But Twitter allows you to build a following. So this is where we'll start...

What Should I Post?

Our aim is to add value. There's a lot of noise out there, so if you can create an account that shares the most interesting/informative crypto tweets/articles, you'll be a step ahead of everyone else.
The aim is to post about the following things:
  1. Bitcoin
  2. Ethereum
  3. the 'Blockchain of the moment' to tap into the big conversations happening in crypto.
  4. Web3
  5. The future of payments
  6. Interesting blockchain projects/technology
  7. Crypto influencers. Talk about those that are genuinely smart, and adding value to the community. By tagging them in a positive way, you make it so that they can see you, and more likely they'll like/reshare your post.
  8. Memes. Add humour, this industry is dry enough...
  9. Technical analysis.
And then....and only then, can you post about NavCoin. I'd say as a maximum NavCoin could be about 5% of your content.
Be smart about posting about NavCoin:

Everything You Need To Do - Step By Step

  1. Create your account. Don't call yourself "NaVcOiN_ L0v3r". That instantly makes what you post less trustful.
  2. Every day - follow the top crypto accounts, reply to a tweet or two with valuable comments, and share interesting articles/opinions on your account. You could do this in 15mins.
  3. Every week/2 weeks - write a longer post/guide on something. Write a tweetstorm about 'the best crypto wallet everyone should be using'.
Most people don't know about NavCoin, which means they won't be interested in 80% of our content. So mostly write about the coins with huge followings. Become influential, even if it's only to 20 people. Add value by making things simple to understand.
And mention NavCoin in non-shilly ways about 5-10% of the time. Don't PUSH. If you push, people put their defences up. You must PULL. Make people curious about NavCoin. Only share the top content from NavCoin - not every little update. Only big news. Hell - don't talk about NavCoin for the first few months.
Bonus step for overachievers: Build your local community. Give NavCoin to your friends. Not just 1NAV though. It's an investment, you're paying to get them interested. You're paying to give them skin in the game. Get them to help you write content. Get them to help grow your audience.
THAT'S IT. Don't overthink this. Don't plan out things bigger than you can chew. Just 10 mins a day, for the next 3 months will do more for NavCoin than anything we've done in the past. You won't go viral overnight. It will start slow, but speed up over time.

How NavCoin Becomes Useful

There are 3 core things to making sure the NavCoin ecosystem thrives in the future. It's by having:
  1. A robust developer ecosystem. By making it technologically exciting to get involved. We need our infrastructure strong, and we need technical builders to do it.
  2. Products - we need products built off NavCoin. Think about industries where payments take place, how can you combine NavCoin and other blockchains together to create amazing user experiences. What do you hate about money/payments in the real world/digital world. Think about them, share your vision, get feedback, find people that like the idea, and build it. Not a developer? There are so many 'no code' tools now that allow you to build pretty much anything, without needing to know code at all.
  3. Audiences. 'NavCoin' doesn't need marketing. You all need marketing.
Databases didn't need "marketing". They didn't need an SEO plan or Facebook ads. What databases had is influencers that talked about the tech's benefits organically, and products that made it easier & easier to use.
You are the influencers for NavCoin - so go out there and influence. This is how decentralised projects work. There is no 'team' that you can blame. If you own NavCoin - you are the team.
To do this, you need to talk about things everyone cares about. And at this point, most people don't care about NavCoin (as it is for most cryptos.... it's a very competitive space, and people only have so much time). Not until we tell stories that make it interesting.
THAT'S IT. NOTHING MORE. NOTHING LESS.
We're at the beginning of the next hockey stick period of growth. The world is uncertain, and looking for alternatives. People are starting to get excited about crypto/blockchain again. SO NOW IS THE TIME TO ACT. Build that audience. So that when the users start flooding in, we're ready & waiting for them.
This is what I'll be doing. I'll see you all out there.
--
EC
submitted by Easy_Captain to NavCoin [link] [comments]

BCH🔥Ignite Livestream Announcement Thursday 11.06.2020

BCH🔥Ignite Livestream Announcement Thursday 11.06.2020
BCH🔥Ignite Livestream
Join us for a #BitcoinCash builders' livestream with BCH House Project Africa and RNEW (nath_swerve, Bro4Crypto, bchghana, BCHUganda) about token adoption & business models for #BCH in Africa.
Hosts: Kousha (BCHGhana) , GeorgeDonnelly (BCHLatam)
Thu 11 Jun 17:00 UTC / 19:00 CEST
click youtube-link below
https://youtu.be/XXF0C6RCK1M
#BuildBCH
Announcement: https://twitter.com/BCHIgnite/status/1270817412678647808
submitted by kptnkook to btc [link] [comments]

Chromia - Blockchain of Blockchains That Has Staged To Revolutionize Decentralized Application Development

Blockchain has taken the world by storm. The tech may have been envisioned to power decentralized finance in Bitcoin, it's potential and use case had far exceeded such identity.
It has opened the possibility to develop trust and openness in a way that has never been expressed before.
However, like any new development, blockchain has many challenges that need to be addressed.
Firstly, existing protocols that power the initial set of blockchains are too slow to garner advanced real-world usage.
Their architectural build also implies they are unable to scale accordingly to meet application and usage demand.
Blockchains are renowned for their strong security and immutability, nonetheless, these factors rely solely on the type of protocol or consensus adopted, and in many cases, the consensus of a particular blockchain may fail to establish a secured environment that could be relied upon under factual circumstances.
On the developer end, developing and building blockchain applications is a nightmare many wanted to escape because most integrated blockchain programming languages are new with an unestablished root. This means programmers have to learn a new language from basics before they can start building on a blockchain network.
The hardest part is that almost each of every type and brand of blockchain has its unique programming language which as a result contributes to non-interoperability that led to a status quo of blockchains being called an "island of self-isolation".
An obvious solution to most of the aforementioned downsides is to start restructuring how blockchains are made by design and code.
The good news is that a blockchain project with a new root has already achieved the feat of addressing most of these problems by building a relational blockchain system governed by a management system termed "Postchain".
I am talking about Chromia blockchain network built by the ChromaWay development team.
Chromia
Chromia is a public blockchain with a relational database system build and design. What this means is that data can be structured and defined in any way by the builder of the system. This flexibility of data management allows for different usage scenarios.
This is a sweet pot for developers but what is more interesting is the ability to code and deploy applications in a seamless manner.
Chroma uses Postchain to oversee the operation of its blockchain network in conjunction with a flexible and easy-to-code programming language called RELL (Relational Language).
Great protocol design? Thumb up! Nice programming language... Interesting! But what about other challenges mentioned in the opening part of the post?
Hell yeah! A blockchain system cannot be duly considered if it can't scale and operate at a good speed.
Chromia takes this factor to heart and ensures its network is able to process transactions at a block rate of 2 seconds, which is more than enough to support most applications and commercial usage.
Blockchain Of Blockchains: Chromia Modular Configuration
One method spam is avoided on blockchain networks is through integrated fee structure, most times, this is charged directly from users. However, Chromia thinks this idea should be rewritten by instead charging Dapps directly for the operation they perform.
Consequently, and since most application usage differs from one type to another. This and many other implementations led to a modular blockchain design where each Dapp can reside on its own chain, dictate its own rule and usage and intended fee structure.
The Dapps in this case acts like side chains that are attached to the governing Chromia infrastructure. Each Dapp or side chain is independent but benefits from the security and laid facilities of the network.
Chromia adopted PBFT consensus to ensure consensus can be achieved under certain rules even if some node in the network cannot be relied upon at a time, thus, eliminating incidents such as 'one point of failure'.
An Infrastructure For A Wide Range Of Usage Scenario
Chromia launched its main net in Dec 2019, and moved from an experimental position to prove their dedication towards achieving their vision not just on paper but as a practical and working process.
Ever since their main net launch. The chain has seen different types of apps deploy on its network.
The network relational design also means Dapps with huge computational demand can work efficiently and seamlessly with any cause to worry.
Let's look at some of these Dapps.
Chromunity
A decentralized social media platform that leverages the advantage of the relational computational build of Chromia to bring about fantastic social and community user experience.
The advantages of Chromunity as a decentralized social platform is how users can control their data and interactions, vote for representatives that implement the will and voice of the community.
Chromunity features a Reddit-like design and interface with the ability to post short/long meaningful content to a wide range of community categories or specific ones.
These screenshots give a sneak peek into how the interactive user interface looks like.
Green Asset Wallet
This is the first enterprise Dapp to launch on the Chromia chain after its main net release.
Using the quote of how the project defines itself.
"Green Assets Wallet is the world’s first blockchain-based platform for easy validation and impact reporting of green bonds".
The product has many features that are designed to suit investor's needs. From real-time collaboration to ensuring optimum trust and transparency to security. The Dapp is ideal for green bonds operations that look to make issuer and investors' lives an easier one.
Investors have direct access to trusted green bond information, metrics, and data.
Green asset wallet at allows investors to make new investment discoveries through search criteria, compare, benchmark, and follow up on investment opportunities".
Issuers are able to operate with an independent, cost-efficient, and structured system, and provide investors with impact investment opportunities and report on achievements.
Mines Of Dalarnia
Is "an action-adventure platform-mining game where the player controls a character and guides them through various blocks of earth, to discover and collect minerals of multiple rarities. Includes a blockchain based real-estate market".
Chromia transaction speed and computational efficiency make it an ideal platform to build decentralized or blockchain games of different kinds.
Play Mines Of Dalarnia
Conclusion
Chromia combines many groundbreaking features that purport it as a new generation blockchain and set it out among the crowd.
It's easy to code programming language, Postchain consortium, relational database system express qualities that fit different needs of decentralized applications and their operations. All of which state the chain strength and confidence of usage.
Under the governance of ChromaWay - an organization of tech experts and geeks. Chromia is expected to continue on an upward positive momentum.
Learn more about the project from it's official website
Their Telegram group chat is a good place to start interacting with the community.
Chromia has a Twitter presence and their Whitepaper is a good reference and tool to have a good overview of the project mission and vision at large.
submitted by Sidonpee to u/Sidonpee [link] [comments]

Cryptarbitrage’s Deribit Spreadsheets Calculation Tools

Perpetuals, Futures, and Options can present quite a steep learning curve, fear not though as we have an incredible collection of Google Sheets and Excel Spreadsheets to help both the basic as well as most advanced users! We can also strongly recommend reading our Educational and Market Research articles as many traders find them to be invaluable resources.

One of our talented Community Managers, Cryptarbitrage, has created and maintains to the best of his ability a series of tools to both help Deribit users learn more about BTC & ETH Perpetuals, Futures, and Options as well support more advanced traders increasing technical needs.
A short introduction by Cryptarbitrage:
"Although I was aware of options beforehand I only started properly researching them in early 2018 after I discovered the Bitcoin options on Deribit. I do not need much encouragement to build a spreadsheet for something so quickly set about created an Excel sheet that would show me the profit and loss of any options position I entered.
This was a great way to learn all the profit and loss formulas for each type of option as well as how different option combinations interacted with each other. As soon as this sheet was complete I was building positions I still didn’t even know the proper names for so was very much learning by doing. It was immediately obvious to me though that options were the type of instruments I wanted to trade.
After a few months and once I’d done some more reading and was more confident I actually knew what I was talking about I began creating shareable versions in google sheets and sharing them with the Deribit community."
Feel free to ask for some help or guidance in our English Telegram Community.
Cryptarbitrage’s Twitter: https://twitter.com/cryptarbitrage
Cryptarbitrage’s Telegram: u/Cryptarbitrage
English Telegram Community: https://t.me/deribit

Deribit's Position Builder
Link: pb.deribit.com
It is invaluable to be able to see the potential profit/loss, implied volatility of a single or multiple positions quickly, and adhoc. This allows you to check the results of either simulated positions, the live positions of your account, or a combination of these all across multiple instruments including Perpetuals, Futures, and Options at the same time.
The Position Builder can be used to analyze the results of either existing or simulated results. As it uses market data from Deribit it provides a quick tool to check the results before adding positions into a portfolio.
Development Credit to the core Deribit development team

Scenario Risk Analysis “Maximum Pain” - Excel Spreadsheet
Link: https://drive.google.com/file/d/1ANS1CgApJCDTX5ZjUwO_fegU7Z-QVSdt/view
A resource to visualize the Open Interest at the present moment as well as the current price of maximum pain for option buyers.

Basic Resource Tools

Simple Perpetual/Future Position Size Calculator - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1gQh11IJgb4HOt8B-HDWG_HX9hta1832piynuI4k-v-A/edit?usp=sharing
This spreadsheet allows you, in both BTC, ETH, and USD, to provide the amount you are willing to risk and to determine the relative size of the position you should take to achieve this.

Simple Options Profit/Loss - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1FRbKfvlr721ZIyPNsLwI0_WtGhuvdWfWLC-UOE1Yi1A/edit?usp=sharing
A means to learn how to manually create your own options mathematics which can be applied across your own spreadsheets, programs, and possibly automated trading tools.

Simple Perpetual/Futures Liquidation Price - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1tcb-NzRV_ATDlkKi8LqTorpGYQyv0DQgj9W_AbIFJ2M/edit?usp=sharing
An easy and quick to use tool to assess your estimated liquidation price, present Leverage as well as expected Maintenance Margin requirements.

Deribit Margin Requirement Calculations - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1xSb8Y_nVF1-8ICZHfQNjDWaeqBjqQfGzrYR7Ymgvi84/edit?usp=sharing
A simple tool to understand and visualize both your Initial Margin (IM) and Maintenance Margin (MM) requirements for Perpetuals, Futures, and Options.

Simple Leverage Examples - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1CIcEq-0V2LeNeMos68MdMN-DqEDvKVclcqc5LVhFSAo/edit#gid=0
A quick and easy way to understand how leverage works on Deribit!


Education

Introduction to Cryptocurrency Options (BTC & ETH)
Link: https://insights.deribit.com/exchange-updates/introduction-to-bitcoin-options-profit-loss/
An introduction specifically to BTC Options, which can be applied to ETH Options, describing the basics of options and the specifics of cryptocurrency options on Deribit.
Introduction to Leverage and Margin
Link: https://insights.deribit.com/education/introduction-to-leverage-and-margin/
An introduction to Leverage and Margin on the Deribit Exchange.
Hedging the USD value of your BTC or ETH on Deribit
Link: https://insights.deribit.com/education/hedging-usd-value-by-shorting-1x/
An introduction as to how to peg your present cryptocurrency holdings (BTC or ETH) at the present market value of BTC/USD or ETH/USD for each asset on Deribit.
Comprehensive Resource Tools
Comprehensive Options Profit/Loss - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1vWn9f7kJ73ufuP8qa05Ct76DO58WkwyXVsGcUP2fkMY/edit#gid=1852961659
Learn how to create advanced multi-leg option positions as well as test possible edge cases or specific scenarios.

Market Data

If you are a retail trader and would like to pull historical data we recommend you use our API. If you would like data prepared or more specific data we recommend taking a look at our data providing partners.
Deribit Perpetual Historical Funding Rates - Google Sheet
Google Sheet Link: https://docs.google.com/spreadsheets/d/1XHLiXHdFWKeXBc2WaqCp5-amcHzAyuorp7bW-Y8XfXI/edit?usp=sharing
A simple sheet to either manually check or use as your data source for funding rates across both BTC Perpetuals and ETH Perpetuals on Deribit.

Excel Tools:

Live Deribit Trading Data - Excel Spreadsheet
Link: https://insights.deribit.com/exchange-updates/live-data-in-excel/
A fully-featured Excel spreadsheet that can either serve as your central resource to pull live data from the Deribit Exchange or can form the base of building your own advanced spreadsheet.
Pull Old Data with an Excel Spreadsheet
Link: https://docs.google.com/document/d/1e_cWT2XZ_OXuckobcTMJU4lLI72zrzsdRkZWY-xmghE/edit
This can be appended to the “Live Deribit Trading Data - Excel Spreadsheet” or included in your very own to pull historical data.
Pull Options’ Greeks with an Excel Spreadsheet
Link: https://docs.google.com/document/d/1zaj1YIP6k3sQuG2QSqzkT77rxqdZDTZ5UiJCnqScgPU/edit
This can be appended to the “Live Deribit Trading Data Excel Spreadsheet” or included in your very own spreadsheet.
Pull Open Interest with an Excel Spreadsheet
Link: https://docs.google.com/document/d/1SRRAAmDj8c75AzDwqvDO4i1dCnXQMRLC_C6wUMLAo-E/edit
This can pull the present Open Interest of an instrument using the aforementioned “Live Deribit Trading Data - Excel Spreadsheet” or demonstrate the functionality for you to incorporate in your own spreadsheet.
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Credit must go to Cryptarbitrage for the creation of all Google Sheets and extended Code Snippets for Excel and Lennard for the creation of the original Excel Spreadsheet.
June - 2020
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Build a Full Stack Twitter Clone with Coding Garden - YouTube Twitter Hacked, Bitcoin Scammed But Whose DMs Were Downloaded? Build A Twitter Bot With Python That Gets You Followers ... The Biggest Scam In Twitter History - YouTube Die GRÖßTEN

Gujarat-based builder and prime accused in the 2018 bitcoin case, Shailesh Bhatt, was arrested on Wednesday in Delhi in connection with an extortion case lodged against him by a builder in Surat, a senior police officer said. "Based on the inputs provided by the Surat police, the Delhi Police has arrested Bhatt. Bhatt has been wanted in our ... Bitcoin Builder Direct is a Bitcoin Earning opportunity in which you can earn recurring Bitcoin payments in your ewallet just to be a member. And Yes its Free to join!. Whats The Concept ? Basically the Forex trading team of Bitcoin Builder Direct [vastly experienced and has been profitably trading for years] trades on behalf of the members and the profits are then distributed equally among ... As the Japanese trustee works through the bankruptcy proceedings, we will continue to represent the interests of Bitcoin Builder users (and all Mt. Gox depositors) to the best of our ability. If there are any actions we need you to take, we will email you directly, and generally announce them on twitter. We do not expect there to be any. If you had your own mtgox account with any assets in it ... Massive Bitcoin-Betrugswelle überrollt Twitter Twitter-Accounts zahlreicher Prominenter wurden offenbar gehackt. Senden Sie Bill Gates oder Elon Musk keine Bitcoins! In diesem Twitter-Special finden Sie stets die neuesten Informationen zum beliebten Microblogging-Dienst Twitter. Informieren Sie sich jetzt!

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Build a Full Stack Twitter Clone with Coding Garden - YouTube

Bitcoin News DEUTSCH Aktuelle Zahlen, Daten & Aussichten THETA Token Hier bist du genau richtig für Bitcoin und Krypto News. Egal ob aktuell brisante Nac... Twitter Hacked, Bitcoin Scammed But Whose DMs Were Downloaded? Richard Lewis. Loading... Unsubscribe from Richard Lewis? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 115K ... This is the greatest doubling scam of All Time * Binance CEO Bitcoin braucht mehr Kritiker. * "Wir haben Sie gefunden" * Fehler, die man bei Bitcoin und Co vermeiden sollte * Craig Wright sagt, dass Bitcoin auf Null geht * "Twitter blockiert XRP" CJ is an Educator, Full Stack Developer and Maker. He streams himself live coding tutorials and walk throughs about Full Stack Web Development and other rela...

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