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Proposal: The Sia Foundation
A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong. In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things. What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do. You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us. At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming. Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born. Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized. Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung. The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance. Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.
The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community. The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.
The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork. As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks. The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.
The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.
Maintain and enhance core Sia software
Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest. Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release. Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer. A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software. With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code. Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire. Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above. As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.
Support community services
We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours. Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.
Ensure easy acquisition and storage of siacoins
Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.) Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion. Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants. Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.
Protect the ecosystem
When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary. The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU. In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.
Drive adoption of Sia
Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers. In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.
The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months. On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well. The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets. Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses. Addendum: Hardfork Timeline We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
Addendum: Inflation specifics The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve. Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
So I just thought I'd share why I am bullish on Swissborg with the community here, and see if anyone has any thoughts. There are a few reasons why I like this project as follows (in no particular order):
Protect and burn - over time this will increase the value of the token, even if market cap stays the same. Swissborg seem to be quite big on protect and burn, they recently chose to use 100% of fees on defi tokens towards it.
Premium - if people want the lowest fees they have to buy CHSB, and lock it up for 12 months, which should reduce selling pressure on the token. It's a slow process, but more and more people are staking for premium.
MPC encryption technology they are using, so you don't need private keys - The company providing this technology for them is Curve, who are insured by a German bank. They are also given the highest security level by Deloittes, and the only company to receive this. So your crypto assets are literally insured with Swissborg. I am not 100%, but I don't think even coinbase insures your crypto assets (they definitely insure your fiat). I would like more information on how this technology works. I have noticed it takes longer to withdraw Bitcoin from Swissborg than other apps and wallets, so I am wondering if it has something to do with how MPC works. If anyone has any more info on why this is please post.
It's still early in the game - Swissborg are still adding more tokens and coins, and they are tokens people want. I would still like to see all the top cryptocurrencies added along side the ERC20 tokens. I am not sure of regulations in Switzerland, but it would be nice to have privacy coins added such as Monero. I think this would give Swissborg a big edge over other projects, but could also hurt in countries with stricter regs.
They are Swiss - The Swiss have a good reputation in the financial world, and are trusted with holding wealth. I hope this can become a very trusted wealth management company, and I believe it will.
If anyone has anything else to add, I would love to hear it.
People had been speculating since the dawn of crypto when the world’s largest online marketplaces, the ones of the Amazon caliber like eBay, Etsy or AliExpress, and, well, Amazon itself, would start to accept cryptocurrencies. There were a slew of rumors, opinions, and theories thickly interspersed with false reports popping up here and there of Amazon and its little cousins being on the verge of embracing cryptocurrencies. On top of that, someone has actually posted a petition on change.org to add Ether to Amazon as a payment method. by StealthEX Long story short, that was a waste of time. High hopes fell flat, and people lost religion. But not all. As the common wisdom goes, when hope dies, action begins. This exposition describes one such effort which tries to bring to fruition the idea of a decentralized marketplace for trading goods and services. And as you might have already figured it out, with a cryptocurrency as a means of payment. So let’s welcome Particl Marketplace and see what it has to offer – and what Amazon has missed.
What is it, in simple words?
Particl Marketplace is an online marketplace where you can trade goods and services. Not a big deal, you may think. However, what distinguishes it from places like Amazon as well as cryptocurrency-enabled marketplaces is the decentralized nature of purchases on Particl. You can think of it as a variety of a decentralized cryptocurrency exchange (aka DEX) where trades are being conducted on-chain. But in case of Particl, it is goods and services that are being traded, not fiat or crypto, with deals on-chain as well, fully encrypted and decentralized. Particl is a global peer-to-peer privacy-centered marketplace that uses an automated two-party escrow system. It is crypto-agnostic and designed to work with any cryptocurrency, creating a secure, highly-scalable environment supported by a privacy-focused blockchain-based platform. The team behind the project sees its mission in developing “a new decentralized, private and democratic economy” that is governed by the network of its users, with no central authority or middleman getting in the way. In the project developers’ own words, Particl enables everyone to participate in a free, anonymous exchange of all kinds of goods, without paying any fee and regardless of geographical location. To be sure, you are already thinking about Silk Road and its dark fate, and that the government is going to crack down monumentally on Particl one day. Well, the outcome may vary as the payments on the platform are made using its own cryptocurrency PART, with its laser focus on privacy and anonymity. But more on this later.
How did it grow up?
The development of the Particl project started in early 2017 with the release of the white paper describing the team’s vision for the marketplace, which was shortly followed by a successful seed funding that brought in enough funds ($750,000) to support the development of the project for a year (it turned out sufficient to last for over two years). These donations helped to establish the Particl Foundation, a non-profit Swiss organization with the goal of providing legal protection for the project to ensure its sustained development and compliance with government regulations. It receives 10% of all the staking rewards generated on the Particl network, making the project self-sustainable and free for most uses. Unlike other such projects in the crypto arena, Particl has been using its own blockchain from day one, which happened to be July 17, 2017. It was specifically designed to be crypto agnostic by supporting and working with any cryptocurrency. Additionally, it supported the smart contract tech out of the box, giving users an ability to build all kinds of decentralized applications (dApps) that can be directly integrated into the Particl marketplace. On May 31, 2018, the Particl Marketplace, the Holy Grail of the entire endeavor, was made available for alpha testing on the testnet of the project, which later split into development and stable branches. It went live with the mainnet release of the Particl Open Marketplace on August 12, 2019, which featured Particl Desktop 2.0.0, a client-side application providing user interface and built-in wallet functions. On November 25, 2019, the Particl Desktop 2.3.0 client was released that enabled Bitcoin payments and marked the introduction of untraceable transactions. With the help of the new in-wallet exchange module, everyone can easily swap their bitcoins for the native PART coin. Moreover, the module allows seamless integration of third-party accountless exchange services right into the marketplace, with StealthEX being one of them.
How is it different from other marketplaces?
The common solution many P2P marketplaces implement to protect buyers and sellers from the other party failing to honor their end of the bargain is through third-party escrow, where the “third-party” in the majority of places and cases is the platform itself that the market participants must mutually trust. In short, it is a single point of failure. And the selling (pardon the pun) point of the entire Particl’s marketplace is its decentralized escrow, which is a thing entirely between the two parties engaged. No middlemen allowed here! And these are not empty words. Particl implements the concept best known as Mutually Assured Destruction (aptly shortened as MAD), a military doctrine you are certainly familiar with, and probably even afraid of, that consists in a mutual destruction of two belligerent parties in an all-out nuclear holocaust. If you are curious, the idea stems from the game theory and has a lot to do with the Nash Equilibrium, of John Nash’s fame. In a nutshell, Particl removes the need for a trusted escrow agent by introducing MAD escrow smart contracts. A MAD escrow contract allows to lock funds in a multi-signature address that can be released only if all the parties sign off on the transaction. So both the seller and the buyer lock in the contract an agreed amount for a specified period of time, with the buyer also depositing the payment for the items purchased. The escrowed funds are released when both parties confirm the fulfillment of the agreement. Should one party break the terms, the funds remain locked for good causing a mutual financial loss until both parties agree to sign off. Another crucial aspect of Particl Marketplace is its end-to-end privacy. The problem with conventional marketplaces acting as an escrow agent is that the communication between the parties should be open to the agent for it to serve as an arbitrator. With Particl, it is no longer required, and all messages between the buyer and the seller are encrypted. Despite being public, only their recipient can decrypt them, which effectively makes messages untraceable. This is also where the PART coin turns up quite handy. It enables three different privacy modes, and with the most secure mode, the Anon mode, PART transactions utilize the RingCT privacy protocol, which hides both the amount transferred and the identity of the parties transacting. Accordingly, every part of the entire Particl trading environment is thoroughly decentralized, and the full anonymity of market participants is maintained at all times, making the platform a completely trustless marketplace. Big Brother is no longer watching you. Aside from that, you can stake PART and generate a source of passive income for yourself. Particl uses a custom Proof-of-Stake consensus protocol, allowing you to get a piece of the pie in the form of new coins created at each block according to the scheduled inflation process. The annual inflation rate is initially set to 5% and goes down 1 percentage point every year until it finally floors at 2% indefinitely. Moreover, these rates are a bare minimum as they assume that all PART coins have been staked. Otherwise, the income will be bigger and better as the same rewards are paid to fewer coins. Additionally, your passive income through staking PART will be augmented by the fees generated through the everyday marketplace operations. Whether it is network fees collected via PART transactions or marketplace listing fees paid by the sellers, all of them contribute to the stakers’ rewards. At the end of the day, staking PART can turn into a profitable business once the Particl platform starts to attract more traffic. In simple words, the more popular the market gets, the more fees it generates, the more coins the stakers earn. As PART is a standalone cryptocurrency, it can be used outside Particl Marketplace as well. So if you plan on using it for purposes other than eCommerce, it is traded on several exchanges, for example, HitBTC and Bittrex, with more exchanges to list PART in the future. There are native Particl wallets available for storing PART such as Particl Qt with Ledger support, Particl-cli, and Particl Copay Wallet, with the latter available for both the desktop and the mobile. There is also a third-party multicurrency Flare Wallet, enabling cold staking for Particl. Running Particl is a collective effort, which means no operational costs and no company bagging profits from it. The marketplace buyers don’t pay any commissions other than tiny network confirmation fees, while the sellers are only charged a small listing fee to keep spam listings to a minimum. This creates a highly competitive environment, with the sellers making more profits and the buyers having access to cheaper goods and services as a result.
What’s in the pipeline?
The next major release of the Particl Marketplace should have been Particl Desktop 2.4.0, but it was later rebranded as Particl Desktop 3.0 to reflect its breakthrough nature. It is set for release in the second half of 2020 and will enable the addition of user-created markets and storefronts, effectively turning the Particl marketplace into a network of specialized markets. And if you think about it, that makes perfect sense. Say, you have a social network account highly merited and full of karma that you want to sell, whatever your reasons might be. Then creating a dedicated market for trading such accounts privately and securely may look extremely appealing to you. Whether it is the right thing to do is another matter, of course. Kidding aside, it is obviously not about selling or offering something that the society on the whole doesn’t approve of or frowns upon. If you are a freelancer, for example, a graphics designer or a translator, you would be certainly interested in the future freelancer markets – along with your potential employers. Put simply, birds of a feather should flock together. To keep things in perspective, popular freelancer markets that exist today charge up to 10-20% of what you would get from your client if you negotiated directly. All in all, establishing communities across the marketplace seems to be the next logical step in the natural evolution and growth of the platform. In fact, it is a little surprising that the Particl team didn’t come up with this idea earlier. Meanwhile, we wish Particl success and good luck in achieving their goals and aspirations. And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example ETH to PART. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your PART coins! Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected]. The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision. Original article was posted onhttps://stealthex.io/blog/2020/08/26/particl-marketplace-where-sellers-meet-buyers/
Just like any other form of encryption, the only way to crack a Bitcoin wallet is to attempt access using all possible combinations of a password. Imagine a lock and having trillions upon trillions of possible keys… you literally have to try and use each key to open it until you find the one that works. A process virtually impossible to complete in a lifetime. Of course, computers can do this much quicker, but even supercomputers that exist today would need many lifetimes to try all the possible combinations — hence, Bitcoin wallets are, at least for the next decades, impossible to crack.
Evo uses Proof of Stake consensus mechanism, which is different from Bitcoin's PoW (Proof of Work). Evo mining process in PoS system is called staking. The block producer will get 6.5EVO, as well as the transaction fees and gases as block reward. So the real reward is usually more than 6.5 evo in total. Basic requirements for staking：
Run a Coinevo fullnode, and keep online (Since Coinevo is using PoS, we don't need any mining machine, just PC or even Raspberry Pi can run a fullnode);
Have some EVO in the wallet (fullnode)（Any amount of EVO can be used for staking, more EVO means higher possibility to stake).
If you have no EVO yet, please get some from market before you doing following staking settings. Currently, Coinevo Core wallet is the only wallet that support Coinevo PoS staking. Note that other wallets like mobile wallet and Evo Electrum are not able to stake for the time being. Two ways to stake:
Method 1：Staking with evod, using command line, suitable for Linux/OSX/Windows/Raspberry Pi users who are familiar with command line tools.
Method 2：Staking with evo-qt wallet, with GUI, suitable for common users.
Either way works in the same way for staking, so you can choose either method you like.
Method 1：Staking with evod (command line)
1. Run evod
Follow the guidance to run evod :
Staking is default on for evod, so no need for other options if you only want to stake.
2. Send some EVO to your wallet
First you can generate a new address with：
This will generate a new address with Prefix '1'. You can send some EVO to this new generated address for staking. You can generate as many addresses as you like, and send arbitrary EVO as you like for staking. Note：The coin should wait for 500 blocks before being able to stake, i.e. about 17 to 24 hours to MATURE.. After the EVO node syncing to the latest block, you can check current balance with ./evo-cli getbalance or get utxo list with./evo-cli listunspent Please do following steps after your coin is mature.
enabled means if your wallet have enabled staking, it should be true by default. staking means if your wallet is currently staking (mining). weight stands for the amount of EVO that is staking right now, with unit 10^-8EVO, here in the example, we have 0.532EVO staking. expectedtime stands for the expected time that you will get a reward, the unit is second.
4. How to stake if the wallet is encrypted？
If your wallet is not encrypted, you can skip this section. However, for security, we recommand you encrypt your wallet. Coinevo wallet can be encrypted with encryptwallet . However, staking will be stopped when it is encrypted. For example, ./evo-cli getstakinginfo for a encrypted wallet：
See staking turns to false , which means wallet is not staking. You can use walletpassphrase to unlock wallet for staking：
./evo-cli walletpassphrase "" 99999999 true
After unlocking, you can double check getstakinginfo , it should look the same with previous unlocked result, staking become true.
Method 2: Staking with evo-qt wallet (official PC wallet)
Current supported platform: Mac/Linux/Windows.
1. Open Evo qt wallet
Launch the wallet.
2. Send some EVO to your wallet
If you already have some EVO in your wallet, you might skip this step. Note：The coin should wait for 500 blocks before being able to stake, i.e. about 17 to 24 hours to MATURE..
3. Check staking status
The flash sign at the bottom of wallet shows staking info : Solid black flash means it is staking now. For more information, you can put your mouse on the flash, e.g.:
Staking : if it is staking；
Your weight is : How many EVO are able to used for staking, unit is EVO;
Network weight is : How many EVO are staking in the network, unit is EVO；
Expected time : expected time to get reward, unit is Day.
Hollow flash measn it is not staking Possible reasons for not staking：
1.There is no coins of no mature coins (more than 500 confirmations(blocks)) -- Solution: send some EVO to the wallet and wait for 500 blocks (about 17 hours);
2.Wallet is locked/encrypted -- Solution: unlock the wallet for staking.
No flash sign means staking is disabled
3.Staking is disabled -- Solution: enable staking in the evo.conf (-staking=true)
About block reward
The block producer will get more than 6.5 EVO rewards, something to keep in mind:
The reward come from a new transaction, you can check balance to see if you get the reward.
Once succesfully stake, you will get 0.65EVO reward immediately.
Other 5.85EVO will be sent to you after 500 blocks (about 17 or 24 hours), in continuous 9 blocks, within each block you will get 0.65EVO,, so in total it will be 5.85EVO.
The staked coins (UTXO) will be locked for 500 blocks, during this period, it cannot be spent nor be used to stake.
How to disable staking?
Staking is by default enabled for Coinevo wallet. If you need to disable staking for some reason (for example exchanges are always recommanded to disable staking), you might following anyone of the 3 ways below: 1 Add -staking=false when running Coinevo node：
./evod -staking=false -daemon
For qt wallet, it is like：
2 Add config staking=false in evo.conf; 3 Encrypt wallet, since encrypted wallet will automatically stop staking.
The best DApps, which will likely lead the next phase.
Author: Gamals Ahmed, Business Ambassador https://images.app.goo.gl/2c9rF5ZqfbjBzb2x6 One of the key themes in 2020 is the rise of decentralized financing (DeFi), a new type of financing that works on decentralized protocols and without the need for financial intermediaries. Lately, the number of DeFi apps has increased significantly, but many have not been seen or heard by many of us. In this Article I will be building a list of the best DApps, which will likely lead the next phase. DeFi apps can be categorized into different subcategories such as:
And much more… Note: Some of the projects in the report categorized into more than one section in the types of dApps. The rise of DeFi Bitcoin (BTC) was the first implementation of decentralized financing. It enabled individuals to conduct financial transactions with other individuals without the need for a financial intermediary in the digital age. Bitcoin and similar cryptocurrencies were the first wave of DeFi. The second wave of DeFi was enabled by Ethereum blockchain which added another layer of programmability to the blockchain. Now, at the beginning of 2020, individuals and companies can borrow, lend, trade, invest, exchange and store crypto assets in an unreliable way. In 2020, we can expect the amount of money held in lending protocols to increase as long-term investors diversify into interest-bearing offers, especially if the market fails to rise towards the 2017/18 highs. On the other hand, active crypto traders are becoming increasingly interested in decentralized trading offers. The increasing level of money security offered by decentralized trading platforms should not only see an increase in trading of DApp users, but also in the number of non-custodial trading and exchange platforms available. Lending: DeFi allows anyone to obtain or provide a loan without third party approval. The vast majority of lending products use common cryptocurrencies such as Ether ($ ETH) to secure outstanding loans through over-collateral. Thanks to the emergence of smart contracts, maintenance margins and interest rates can be programmed directly into a borrowing agreement with liquidations occurring automatically if the account balance falls below the specified collateral. The relative benefit gained from supplying different cryptocurrencies is different for the asset and the underlying platform used.
Source: https://images.app.goo.gl/SGttwo4JWadHTxYe7 Compound is a money market protocol on the Ethereum blockchain — allowing individuals, institutions, and applications to frictionlessly earn interest on or borrow cryptographic assets without having to negotiate with a counterparty or peer. Each market has a dynamic borrowing interest rate, which floats in real-time as market conditions adjust. Compound focuses on allowing borrowers to take out loans and lenders to provide loans by locking their crypto assets into the protocol. The interest rates paid and received by borrowers and lenders are determined by the supply and demand of each crypto asset. Interest rates are generated with every block mined. Loans can be paid back and locked assets can be withdrawn at any time. While DeFi may seem overwhelming complex to the average individual, Compound prides itself on building a product that is digestible for users of all backgrounds. Compound is a protocol on the Ethereum blockchain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty. Built on top of that principle is cTokens, Compound’s native token that allows users to earn interest on their money while also being able to transfer, trade, and use that money in other applications. OVERVIEW ABOUT COMPOUND PROTOCOL Compound Finance is a San Francisco based company, which raised an $8.2 M seed round in May of 2018, and a $25M Series A round in November of 2019. Financing rounds were lead by industry giants including but not limited to Andressen Horowitz, Polychain Capital, Coinbase Ventures and Bain Capital Ventures, Compound Finance is a sector-leading lending protocol enabling users to lend and borrow popular cryptocurrencies like Ether, Dai and Tether. Compound leverages audited smart contracts responsible for the storage, management, and facilitation of all pooled capital. Users connect to Compound through web3 wallets like MetaMask with all positions being tracked using interest-earning tokens called cTokens. Compound recently introduced a governance token — COMP. It holds no economic benefits and is solely used to vote on protocol proposals. The distribution of COMP has absolutely exceeded expectations on all fronts. Compound is now the leading DeFi protocol both in terms of Total Value Locked and in terms of COMP’s marketcap relative to other DeFi tokens. COMP was recently listed on Coinbase — the leading US cryptocurrency exchange and has seen strong interest from dozens of other exchanges including futures platforms like FTX. Compound’s new governance system is well underway, with close to close to 10 proposals being passed since it’s launch. What’s unique about COMP’s governance model is that tokenholders can delegate their tokens to an address of their choice. Only those who hold more than 1% of the supply can make new proposals. Besides earning interest on your crypto assets, which is a straightforward process of depositing crypto assets on the platform and receiving cTokens, you can also borrow crypto on Compound. Borrowing crypto assets has the added step of making sure the value of your collateral stays above a minimum amount relative to your loan. Compound and DeFi more broadly wants to help people have more access and control over the money they earn and save. While the project has had its criticisms, the long-term goal of Compound has always been to become fully decentralized over time. The Compound team currently manages the protocol, but they plan to eventually transfer all authority over to a Decentralized Autonomous Organization (DAO) governed by the Compound community. For following the project: Website:https://compound.finance/ Medium:https://medium.com/compound-finance Github:https://github.com/compound-finance/compound-protocol DEXs: Decentralized exchanges allow users to switch their assets without the need to transfer custody of basic collateral. DEXs aim to provide unreliable and interoperable trading across a wide range of trading pairs.
Source: https://images.app.goo.gl/sFCUhrgVwvs9ZJEP6 Kyber is a blockchain-based liquidity protocol that allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Using this protocol, developers can build innovative payment flows and applications, including instant token swap services, ERC20 payments, and financial DApps helping to build a world where any token is usable anywhere. Kyber’s ecosystem is growing rapidly. In about a month, the team got an investment and partnered with some of the best projects. ParaFi Capital, a blockchain-focused investment company, has made a strategic purchase of KNC codes. The company will assist the DeFi project by qualifying new clients and improving professional market manufacture. The project’s recent partnerships seem impressive. Includes Chainlink, Chicago DeFi Alliance, and Digifox Wallet. An important DeFi integration was also made with MakerDAO. KNC can now be used as a DAI warranty. The project has reached a milestone worth $ 1 billion of total turnover since its inception. More importantly, volume on an annual basis is moving and accelerating from $ 70 million in the first year to more than $ 600 million in 2020. Recently five million KNC (about 2.4% of total supply) were burned, improving Kyber’s supply and demand ratio. In July, the Kyber network witnessed a Katalyst upgrade that will improve governance, signature, delegation and structural improvements. When Katalyst hits the main network, users will be able to either vote directly or delegate tokens to shareholder groups led by either companies like Stake Capital or community members. The KNC used to vote is burned, and in turn, voters get ETH as a reward. This setting creates a model for staking an uncommon contraction for the Kyber network. KyberDAO will facilitate chain governance, like many other projects based on Ethereum. An interesting partnership with xToken has been set up to help less-participating users stake out via xKNC. xKNC automatically makes specific voting decisions, making it easier for users to join and enjoy the return. The pool was created to draw BTC to Curve. Users who do this are eligible for returns in SNX, REN, CRV, and BAL. The more BTC lock on Synthetix, the more liquid it becomes, and the more attractive it is for traders. The project plans to continue expanding its products and move towards more decentralization. Synthetix futures are scheduled to appear on the exchange within a few months. The initial leverage is expected to be 10 to 20 times. The team aims to neglect its central oracle and replace it with one from Chainlink during the second stage of the migration. This will significantly increase the decentralization and flexibility of the platform. For following the project: Website:https://kyber.network/ Medium:https://blog.kyber.network/ Github:https://github.com/kybernetwork Derivatives: In traditional finance, a derivative represents a contract where the value is derived from an agreement based on the performance of an underlying asset. There are four main types of derivative contracts: futures, forwards, options, and swaps.
Source: https://images.app.goo.gl/1UsxQ7a3M5veb5sC7 Synthetix is a decentralized artificial asset issuance protocol based on Ethereum. These synthetic assets are guaranteed by the Synthetix Network (SNX) code which enables, upon conclusion of the contract, the release of Synths. This combined collateral model allows users to make transfers between Compound directly with the smart contract, avoiding the need for counterparties. This mechanism solves DEX’s liquidity and sliding issues. Synthetix currently supports artificial banknotes, cryptocurrencies (long and short) and commodities. SNX holders are encouraged to share their tokens as part of their proportionate percentage of activity fees are paid on Synthetix.Exchange, based on their contribution to the network. It contains three DApp applications for trading, signature and analysis: Exchange (Synths at no cost). Mintr (SNX lock for tuning and fee collection). Synthetix Network Token is a great platform in the ethereum ecosystem that leverages blockchain technology to help bridge the gap between the often mysterious cryptocurrency world and the more realistic world of traditional assets. That is, on the Synthetix network, there are Synths, which are artificial assets that provide exposure to assets such as gold, bitcoin, US dollars, and various stocks such as Tesla (NASDAQ: TSLA) and Apple (NASDAQ: AAPL). The whole idea of these artificial assets is to create shared assets where users benefit from exposure to the assets, without actually owning the asset. It is a very unique idea, and a promising project in the ethereum landscape. Since it helps bridge the gap between cryptocurrencies and traditional assets, it creates a level of familiarity and value that is often lost in the assets of other digital currencies. This will make Synthetix take his seat in the next stage. On June 15, BitGo announced support for SNX and on June 19, Synthetix announced via blog post that Synthetix, Curve, and Ren “collaborated to launch a new stimulus group to provide liquidity for premium bitcoin on Ethereum”, and said the goal was to “create the most liquid Ethereum — the BTC-based suite available to provide traders with the lowest slippage” In trade between sBTC, renBTC and WBTC. “ For following the project: Website:https://www.synthetix.io/ Blog:https://blog.synthetix.io/ Github:https://github.com/Synthetixio Wallets: Wallets are a crucial gateway for interacting with DeFi products. While they commonly vary in their underlying product and asset support, across the board we’ve seen drastic improvements in usability and access thanks to the growing DeFi narrative.
Source: https://images.app.goo.gl/mYPaWecFfwRqnUTx6 It is the startup for consumer game-changing financial technology, which makes decentralized web access safer and easier. The company has built a smart and easy-to-use mobile wallet for Ethereum, which gives users the ability to easily retrieve their encrypted currencies on the go. Argent Benefits:
Only you control your assets
Explore DeFi with one click
Easily retrieve and close your wallet
The wallet pays gas for in-app features, for example Compound and Maker
The Argent crypto wallet simplifies the process without sacrificing security. It is a type of wallet that allows you to keep cryptographic keys while keeping things simple. The Argent wallet is secured by something called the Guardians. If you lose your phone (and your Argent wallet), just contact your guardians to confirm your identity. Then you can get all your money back on another device. It is a simple and intuitive method that can make cryptocurrency manipulation easier to do without experience. Argent is focused on the Ethereum blockchain and plans to support everything Ethereum has to offer. Of course, you can send and receive ETH. The startup wants to hide the complexity on this front, as it covers transaction fees (gas) for you and gives you usernames. This way, you don’t have to set a transaction fee to make sure it expires. Insurance cooperative Nexus Mutual and Argent Portfolio Provider are planning to offer a range of smart and insurance contracts to keep Argent user money safe from hackers. First, the smart contract is designed to prevent thieves from draining the wallet by temporarily freezing transfers above the daily spending limit for addresses not listed in the user’s whitelist. The user has 24 hours to cancel the frozen transfer — very similar to the bank’s intervention and prevent fraud on the card or similar suspicious activities in the account. By contrast, the default coding state is closer to criticism: once it disappears, it disappears. “We are thinking not only of crypto users but also new users — so the ultimate goal is to duplicate what they get from their bank,” said Itamar Lisuis, one of the founders of Argent. For following the project: Website:https://www.argent.xyz/ Medium:https://medium.com/argenthq Github:https://github.com/argentlabs/ Asset Management: With such a vast amount of DeFi products, it’s crucial that tools are in place to better track and manage assets. In line with the permissionless nature of the wider DeFi ecosystem, these assets management projects provide users with the ability to seamlessly track their balances across various tokens, products and services in an intuitive fashion.
Source: https://images.app.goo.gl/VP9Xwih6VQ1Zmv2E9 It is a smart wallet for DeFi that allows users to seamlessly manage multiple DeFi applications to maximize returns across different protocols in a fraction of the time. With InstaDapp, users can take advantage of industry-leading projects like Compound, MakerDAO and Uniswap in one easy-to-use portal. Instadapp currently supports dapps MakerDAO and Compound DeFi, allowing users to add collateral, borrow, redeem and redeem their collateral on each dapp, as well as refinance debt positions between the two. In addition to its ease of use, InstaDapp also adds additional benefits and use cases for supported projects that are not already supported. The project focuses on making DeFi easier for non-technical users by maintaining a decentralized spirit while stripping many of the confusing terms that many products bring with them. InstaDapp has launched a one-click and one-transaction solution that allows users to quadruple the COMP Codes they can earn from using quadruple borrowing and lending. A good timing feature for sure, but this kind of simplification is exactly why Instadapp was created. Its goal is to create a simple interface into multiple DeFi applications running on the Ethereum Blockchain and then automate complex interactions in a way that enables users to maximize their profits while reducing transactions and Ethereum gas charges. To use Instadapp you will need Ethereum wallet and you will also have to create what is called Instadapp smart wallet in which token you want to use. For following the project: Website:https://instadapp.io/ Medium:https://medium.com/instadapp Github:https://github.com/instadapp Savings: There are a select few DeFi projects which offer unique and novel ways to earn a return by saving cryptocurrencies. This differs from lending as there is no borrower on the other side of the table.
Source: https://images.app.goo.gl/4JhfFNxPfE9oxoqV6 Dharma is an easy-to-use layer above the compound protocol. It introduces new and non-technical users to transaction encryption and allows them to easily borrow or lend in DeFi markets and earn interest in stable currencies. You can start by simply using a debit card. Funds are kept in a non-portfolio portfolio, which constantly earns interest on all of your deposited assets. The value of Dharma’s DeFi lending experience is:
Depositing and withdrawing banknotes.
Dharma, the prominent DeFi cryptobank bank, has made it extremely easy to bring any Twitter user into the crypto world. Dharma users can send money from the Dharma app by searching for any Twitter handle, setting the required amount, and clicking on one button. The Twitter Dharma Bot account can send a unique notification with a link to download the Dharma mobile app. Senders are encouraged to retweet the notification to ensure that the receiver does not lose it. To raise money, recipients simply download the Dharma app. After creating a Dharma account, users connect their Twitter account to receive access to the money sent. They can choose to transfer money to US dollars and withdraw to a bank account, or leave DAI in a Dharma account where it will earn interest like all Dharma deposits. The submitted DAI will gain interest even before the receiving user requests it while waiting for the claim. In her ad, Dharma demonstrated a number of ways in which the new social payments feature can be used, including tips for your favorite Twitter personalities, accepting payments for goods or services in a very clear way, charitable donations across borders or transfer payments. The Dharma app is available for both Android and iOS. Dharma and Compound Dharma generates interest by DAI signing the Compound Protocol. Dharma also appeared in the news recently after the release of a specification outlining a Layer 2 expansion solution allowing the platform to expand to handle current transaction volume 10x, ensuring users can transfer their money quickly even in times of heavy congestion on the Ethereum network. Dharma is developing its “core” and “underwriting” contracts within the company. Underwriting contracts are open source and non-custodian, while each loan contract is closed source. This means that the receiving address contains nodes that interact with a script on a central Dharma server.For following the project: Website:https://dharma.io/ Medium:https://medium.com/dharma-blog Github:https://github.com/dharmaprotocol Insurance: Decentralized insurance protocols allow users to take out policies on smart contracts, funds, or any other cryptocurrencies through pooled funds and reserves.
Source: https://images.app.goo.gl/b7HwB8ifvTXwFhrh6 Nexus Mutual uses blockchain technology to return mutual values to insurance by creating consistent incentives with the smart contract symbol on the Ethereum blockchain. It is built on the Ethchaum blockchain and uses a modular system to aggregate smart Ethereum nodes, allowing to upgrade the system’s logical components without affecting other components. The way Nexus works is members of the mutual association by purchasing NXM codes that allow them to participate in the decentralized independent organization (DAO). All decisions are voted on by members, who are motivated to pay real claims. It sees plenty of opportunities in a gradual transition of Ethereum to Eth 2.0, which is expected to start later this year. Eth 2.0 moves the network from the power-hungry Proof-of-Consensus (PoW) algorithm to Proof-of-Stake (PoS), a way to sign cryptocurrency in order to keep the network afloat. Having a steady return on signature from the Ether (ETH) can be somewhat compared to the way in which insurance companies invest in the real world the premiums they collect. By setting a strong set of conditions for Nexus Mutual, anyone will be able to bring in and acquire a new form of risk for mutual coverage — assuming that members are willing to share NXM. With this design, the mutual discretion will be able to expand into much broader fields beyond smart contracts. In addition to defining multi-layered term agreements, Nexus Mutual also has some other advantages needed to achieve this visualization. For following the project: Website:https://nexusmutual.io/ Medium:https://medium.com/nexus-mutual Github:https://github.com/NexusMutual Disclaimer: This report is a study of what is happening in the market at the present time and we do not support or promote any of the mentioned projects or cryptocurrencies. Any descriptions of the jobs and services provided are for information only. We are not responsible for any loss of funds or other damages caused. Resources: https://compound.finance/ https://kyber.network/ https://instadapp.io/ https://www.synthetix.io/ https://www.argent.xyz/ https://dharma.io/ https://nexusmutual.io/
07-31 09:14 - 'DEMOS: Staking Always Continue to Move Forward' (self.Bitcoin) by /u/Satoshilol removed from /r/Bitcoin within 206-216min
''' [link]1 Staking (Staking Mining) has been very popular recently. It seems that you can’t say hello to others in the currency circle without knowing that Staking. Staking is essentially a product that is similar to the fixed income of the currency circle. The bear market environment has given it the soil for its development. It provides scenarios that users can accept in the short term, such as node services, especially the special time when the exchange joins. The public knows better that 2019 is the first year of Staking. Staking is a verification process under the POS consensus mechanism. In the POS mechanism, all nodes need to pledge tokens to participate in the consensus. At the same time, the public chain network verifier is also the holder of the token, and the pledger needs to lock their tokens as collateral , In exchange for the right to verify blocks and mining rewards. In the POS consensus mechanism project, all miners must hold coins, and anyone can participate in staking to “earn coins” through encrypted asset mortgage lock-up. If POW tokens used to provide rewards through calculations, then POS participates in staking through encrypted asset mortgage lock-up. Although there are still people who are skeptical about whether staking can make money, it has to be said that instead of letting “digital assets” lie quietly in their wallets, most people choose to do staking to increase the share of Token in the entire network. Share. In order to make this income truly reach a positive value, DEMOS, which has the advantage of a public chain, adopts a democratic voting method to provide high income from staking. The process is as follows: Users who want to participate in staking first need to open a democratic certificate, bind the corresponding mining pool, and then use DOS to buy votes (refer to the figure below for the detailed process). DEMOS adopts a POW+POS dual consensus mechanism, and it is set that when POW miners generate each block, at least 5 votes are required for confirmation, and there can be up to 20 votes. 30% of the DOS rewards for block generation will be shared equally by the selected voters, 60% of the rewards will be obtained by POW miners, and the remaining 10% will be entered into the community account as a community fund. The process from voting to the selection of a vote is called a smashed vote. If the smashed vote is successful, the principal and rewards will be credited to the account at once. As of the time of publication, the ticket price is about 321.86DOS, the unit’s blast ticket reward is about 37.32DOS, and the rate of return is as high as 11.6%. Since voting is randomly selected, the vote-popping cycle is also random. Participants can purchase multiple tickets to increase their vote-popping rate. DEMOS’s mature ticket mechanism (that is, the ticket pool can only hold up to 40960 tickets at the same time) guarantees that the cycle of votes will not exceed 142 days. Tickets that have not been selected after this time will be returned. The selection rate is only 0.5%. According to the feedback from the DEMOS community, the average cycle of the current vote burst is about 28 days, and the vote burst in the fastest day. The DEMOS autonomous community has a mining pool freely formed by participants. The role of the mining pool is to vote on behalf of miners when they need to vote, and vote online 24 hours a day. As of the publication time of this article, DEMOS has 13 mining pools with a total pledge amount: 848,048. The largest mining pool pledge amount is 374,069, which shows the popularity of DEMOS Staking. For the cryptocurrency industry, staking in the POS mechanism has two main functions, namely, maintaining security and incentivizing user participation. Just like the founder of Babbitt said: “The biggest significance of staking is to increase community participation, because when participating in staking, the vast majority of token holders and project parties are communities of interest.” DEMOS Staking On the one hand, the marketization of revenue encourages users to participate in DOS voting (staking) to increase revenue, and on the other hand, it also provides effective guarantees for the decentralization and security of DEMOS. Staking economy has become an emerging model for blockchain participants to obtain stable income. As more and more investors pour into this track, it is foreseeable that Staking proceeds will eventually sink into the community economy, and the hidden value will inevitably be unlimited. DEMOS, as the global basic public chain, is here the track is bound to go straight ahead. **Website: [link]2 ''' DEMOS: Staking Always Continue to Move Forward Go1dfish undelete link unreddit undelete link Author: Satoshilol 1: pr***ew.re*d.it/*c*yvfuv*4e5*.*ng?w*dth=700&**p*f*rm*t*png&a*p;au*o=webp&*m*;s=70b1195*aec**a9**6*37*f7b2**758c5f30d5*e 2: www.doschain.org** Unknown links are censored to prevent spreading illicit content.
Bitcoin brought to light the power of cryptocurrency and blockchain technology. I wanted to share some other projects to show the world that blockchain technology is a viable solution to real world problems. I had a look into some of the projects that are disrupting industries like advertising, communication, energy, finance, gambling, video games, privacy, and social media - here’s what I found:
Personal data is gathered and sold to third parties, but the money never makes it to the user whose data has generated the value for the company using it.
Basic Attention Token (BAT) BAT is a product of Firefox co-founder Brendan Eich, raising over $20million in less than a minute during the ICO craze of 2017. BAT is a feature of the Brave browser, enabling users to be rewarded in $BAT for their attention. As of March 2020, Brave has amassed an impressive 4 million daily active users.
DAD (DAD) DAD, short for Decentralized Advertising, is making advertising data more transparent without infringing on users’ privacy. DAD uses the Lightning Network to facilitate high frequency microtransactions.
Edward Snowden (among others) revealed the extent of surveillance technology collecting civilian communication data and expressed the need for a safe, secure and surveillance free method for individuals and businesses to communicate over the internet.
Status (SNT) Status is an Ethereum based encrypted messaging app, web3 browser and $ETH/$SNT wallet. Status was one of the most funded ICOs in 2017 and have achieved +10k downloads on Android phones. Recently, Status upgraded their communication protocol to allow 10x more users, however this only raised their limit to 10k simultaneous users.
Orchid (OXT) The Orchid network is an incentivized bandwidth proxying protocol for a decentralized VPN that allows users to buy bandwidth from a global pool of service providers using $OXT.
With the shift away from physical cash and the move towards online payments, user privacy is at risk. Digitalization often means more surveillance, privacy is more important than ever.
Monero (XMR) With Monero you can spend safely, knowing that others cannot see your balances or track your transaction activity - by default. Using a combination of ring signatures, ringCT and stealth addresses, Monero provides all the benefits of an open-source and decentralized cryptocurrency, without any privacy concessions.
Loki Network (LOKI) Loki is a Monero fork modified to facilitate instant anonymous transactions and communication. The Loki Network consists of Lokinet, an onion routing protocol similar to Tor, and Session, a cross-platform end-to-end encrypted messaging application with anonymous registration that has been downloaded +100k times. Both applications use Loki’s masternode network to anonymously route data.
Energy markets are inefficient and act in the interest of the middlemen, not the generator or consumer. With the continual transition to cleaner energy, the energy sector is looking to leverage new and existing technologies.
Power Ledger (POWR) Power Ledger has developed a world-first blockchain enabled energy trading platform to make energy markets more efficient. Currently used in Australia, Thailand, India, Japan and the United States, The Power Ledger platform enables the trade of electricity in real time with all transactions recorded on the blockchain.
WePower (WPR) WePower marketplace connects companies directly with green energy generators so that all companies, no matter the size, can make a tangible environmental impact whilst buying green energy at competitive rates with full transparency.
The financial system is out of date and in serious need of an update. Traditional banking only runs during business hours and cross border payments are exceptionally slow, inefficient and costly. As we continue transitioning to a more digital world, money is making the same change.
Synthetix (SNX) Synthetix is a decentralized synthetic asset issuance protocol that enables minting of synthetic assets when $SNX tokens are locked in the contract. Assets are assigned exchange rates via price feeds supplied by an oracle and can be traded on the Synthetix Exchange DApp.
COTI (COTI) COTI’s DAG-based protocol combines infrastructure, services and application layers to create a holistic payments solution which is modular and fully customizable. At the core lies the Trustchain, which assigns trust scores using machine learning to increase transaction speeds and reduce transaction costs.
Gambling usually takes place in a physical or virtual casino, where the house always wins. Blockchain based gambling platforms will provide more transparency on how odds are formed, fees are charged and how payouts are scheduled.
WINk (WIN) WINk was the first DApp launched on Tron and boasts the largest library of casino games on the blockchain. WINk’s platform provides a set of tools and resources for developers that allow them to easily create unique gaming DApps. The scaling solutions implemented in WINk’s games have completely eliminated transaction costs.
Casino Coin (CSC) CasinoCoin is an open source, peer-to-peer, cryptocurrency specifically designed for the regulated online gambling industry. CasinoCoin uses a modified version of the Ripple code, optimised to work within the regulated gaming industry, but also with an eye to work within the banking system long term.
With the introduction of IoT technology, the amount of data points being collected need to be managed and secured to avoid massive data breaches and leaks. The use of Blockchain technology can increase transparency and virtual incorruptibility.
Walton Chain (WTC) Waltonchain combines RFID, Blockchain and IoT technologies to help business merchants monitor their production, logistics, warehousing and retail aspects of the supply chain. This ensures all data is authentic and reliable and increases transparency and reduces human error - which would have been useful for their infamous Twitter giveaway...
IoTeX (IOTX) Backed by a global team of research scientists and engineers, IoTeX combines blockchain, secure hardware, and data services innovations to empower intelligent IoT networks and machine economies; an ecosystem where information and value can be exchanged by physical and virtual participants on a global scale.
The video game industry is an ever evolving space which often adopted technological advancements before many others. The use of Blockchain is being explored for things such as in-game Microtransactions and digital collectables.
Enjin Coin (ENJ) Enjin is an ERC20 token built on the Ethereum network which aims to allow the gaming industry to create and manage their own virtual goods. Game developers could create their own in-game digital assets for their gaming community to use which would all be backed by the parent coin, $ENJ. Enjin soard to popularity on announcement of their partnership with Samsung.
Decentraland (MANA) Decentraland is a fully decentralized and open market where you can discover, buy, sell, and manage parcels of virtual land. Using Decentraland’s editor, you can design your own pieces of land in the virtual world. Decentraland’s world is built around MANA, an ERC20 token used for trading goods and services provided by users.
Typical social platforms are run by centralized companies and depending on their jurisdiction, they may not be able to serve certain people. Censorship resistance is critical to allow for freedom of speech.
Steem (STEEM) Steemit is a blockchain-based blogging and social media website, which rewards its users with $STEEM for publishing and curating content. All text content is stored on the Blockchain for eternity, although images still require a hosting platform such as Imgur.
Hive (HIVE) Hive, a new fork of Steem, recently launched in an attempt to limit exchanges from using customer holdings to participate in governance attacks, as witnessed on the Steem blockchain earlier this year. This comes with a move towards providing a remedy for distribution issues and reliance on a central entity for code and infrastructure.
There are literally thousands of projects out there, these are just some of the projects I've found to be doing interesting things. If I’ve missed something super important, let me know. I might look into blockchain projects next that have the most current active user bases if you guys like these kinds of posts.
I think I know what happened to Peter Schiff's Wallet Password, and it may be possible to restore his access
People have been discussing Peter Schiff losing access to his wallet. Unfortunately, we in the crypto community couldn't really help without more information. I just watched the following video and Peter gives details about the wallet he had: https://www.youtube.com/watch?v=3iFolFv4RV0&feature=youtu.be&t=460 It was a wallet set up on Blockchain.com. Fortunately I've used them on and off from the beginning so I'm fairly familiar. Peter says he'd usually "enter a PIN code" but that suddenly stopped working. That's good news. I don't know how Blockchain.com has things set up behind the scenes but it doesn't seem to me Peter's wallet (the private key part) is encrypted, because a 4-5 digit PIN would be a horrible password for such a function. The PIN I believe is really just a first line of defense, just something there if, for example, a person leaves their mobile phone laying around unlocked. Blockchain.com started as a web based wallet. A mobile app which could be downloaded didn't become available until later. That's important because their security system wasn't structured around an app, but instead something like logging into a website with a username and password. For new accounts the site generated a "Wallet ID" which was a cryptic looking string of characters serving as a username. To access a Blockchain.com wallet a person would provide the Wallet ID and enter their password. That was it. There were additional security features which could be added but that was the default routine. At some point they also began mandating new accounts provide an email, which they sent the Wallet ID to (because many lost these IDs). The point is the PIN for the mobile device just authenticates using the device to connect with the Blockchain.com server. If Peter still has his device and access to the email which should have been used to set up his account, and which should contain his Wallet ID, I'd say there is a >80% chance he can regain wallet access, even without knowing the backup seed phrase. As for getting logged out of the PIN I think that's a normal security feature working as intended. It probably periodically expires or requires reset. Since Schiff takes a highly nonchalant attitude toward his Bitcoin wallet, and isn't very technical on top of that, it doesn't surprise me in the slightest that he got accidentally locked out.
How Ransomware Encryption Happens & 4 Methods for Recovery
We know how overwhelming it can feel to be the victim of a ransomware attack and how your business cannot operate due encrypted or locked files. This page delivers insight on why your files were encrypted or locked, and the options you have to decrypt ransomware. As a ransomware recovery service provider, we have helped thousands of clients successfully recover their data and decrypt their data. Evaluating all options will include analyzing the encrypted files, and the least desirable option to pay the ransom demand if necessary. Our process helps provide critical insight into decrypting ransomware and the available options that clients have. By the end of this piece, it is our goal to show you what is involved to successfully recover your files. This guide outlines what steps and research are necessary to decrypt or unlock your files from a ransomware attack.
You’re the victim of a ransomware attack
You arrive to work and start noticing suspicious alerts coming from your servers, and none of the databases are functional. Your co-workers are frantic and cannot access any of their data. You investigate further and find all of the files on your network are renamed and discover ransom notes, and a screen asking you to email someone if you want your data back. You finally realize that you are a victim of a ransomware attack, and all of your files are locked or encrypted.
3 Common Ways Your Files Were Encrypted or Locked
Ransomware succeeds when businesses have poor security hygiene. Organizations that lack policies & procedures around data security will have a higher risk of ransomware attacks. Here are some of the most common ways to fall victim to a ransomware attack:
Open Remote Desktop Protocol Ports (RDP)
Businesses that have improperly configured network security may leave their Remote Desktop Protocol (RDP) ports open. Unknowingly, this is the equivalent of leaving the front door unlocked when you leave your home: it provides an opportunity for cyber attacks to come through with little deterrence. Once a hacker is connected to your network, they can install ransomware and additional back doors to access your network at a later date. A large percentage of ransomware attacks still use this method of attack because so many organizations are not even aware of this security vulnerability.
Ransomware can infiltrate your network by a malicious email campaign known as a phishing attack. Ransomware operators use massive networks of internet-connected devices (botnets) to send phishing emails to unsuspecting victims. These emails intend to trick the receiver into clicking on a malicious attachment or link, which can secretly install the ransomware virus or other malware. Phishing emails are becoming increasingly difficult to detect as cybercriminals find clever ways to make a malicious email look legitimate. This underscores the importance of security awareness training for everyone in the organization, not just the I.T. department.
The ransomware operators may have used previously compromised passwords from employees at your organization to gain unauthorized access to the networks. This derives from the poor security practices of reusing the same passwords for multiple accounts and authentication processes. If your employees have been using old & weak passwords to access your business data, a cyber criminal can use a previously compromised password to initiate the attack. Remember to always to follow good password hygiene. The variety of attack vectors highlights the importance of a digital forensics investigation that can help victims understand how the ransomware came onto your computer and what steps you can take to remediate the vulnerability.
4 Options for Ransomware Recovery
In this section, we cover the options to restore files encrypted or locked by ransomware.
1. Recover files with a backup
If your files become encrypted in a ransomware attack, check to see if you have backups to restore and recover (in order).
Off-site or offline backup. Having your backup stored in the cloud or offline would protect the data from the virus since it is not accessible at the time of the attack.
Check your Windows Shadow Copies. Even though most ransomware will delete Windows Shadow Copies, you might get lucky and find them intact.
Check your on-site backups. We observe that most on-site data is either manually deleted by the attacker, or encrypted by the ransomware virus.
2. Recreate the data
Even though your files are encrypted by ransomware, you might be able to recreate the data from a variety of sources as outlined below:
Recreate the data from paper copies. When you have clean systems and physical copies of your data, you can re-enter the data manually from paper copies into your computers and servers.
Piece together data from email. Email exchanges are a great way to salvage some of your data from email attachments.
Database mining. Some ransomware variants only encrypt a small part of a database or backup files so you can pull out good, usable data.
3. Breaking the ransomware encryption
The harsh truth is that the majority of ransomware encryption is unbreakable. This impossibility is a tough concept for many of us to accept, given the technological advances of our society. Does this mean you should skip looking into whether the ransomware encryption can be broken? This option should always be explored if presented by a ransomware recovery firm, although the final choice is yours to make. We will lay out a real life example at Proven Data below to outline why this was a great decision for a company that was infected with ransomware. While it tends to be rare, there are poorly constructed ransomware encryptions that have been broken by security researchers. If you can avoid paying a ransom, you should at all costs. There can be flaws in the malware or weaknesses in the encryption. Businesses can look at these options, especially if time is on your side. There are also free ransomware decryption resources that provide tools for previously decrypted ransomware variants. A client of ours had hired a ransomware recovery company to recover their files until we discovered at the very last moment through our analysis that the encryption was breakable. With less than 20 minutes to spare, we saved the client out of paying a $450,000 ransom.
Why can’t most ransomware encryption be broken?
Ransomware is a cryptovirus, which means it uses cryptography in combination with malware to lock your files. Modern cryptography uses sophisticated mathematical equations (algorithms) and secret keys to encrypt and decrypt data. If strong encryption is used, it can take thousands, if not millions of years to break the encryption given the strength of today’s computers. Encryption is a security tool created with the intent of data protection. It is a defensive tool to provide security, privacy, and authentication. Sadly, ransomware attackers are using it as a weapon against innocent victims.
How do I know if the encryption can be broken?
You can start off with this free ransomware identification resource to determine the feasibility of decryption. You will need to upload the ransom note and a sample file into the ID-Ransomware website, and it will tell you if there is a free decrypter or if it is an unknown ransomware variant. Please note that the tool is not always 100% accurate. If the variant is still under analysis, you will need a malware or encryption analyst to determine whether or not there is a possibility for decryption. Encryption is designed to be unbreakable, which is why security researchers can’t simply make a tool for ransomware decryption. These unbreakable encryptions protect our bank accounts, trade secrets, government data, and mobile communications, among other things. It would be a significant security concern if there were a master decryption tool that could break encryption algorithms.
4. Paying the ransom to decrypt ransomware files
If the encryption is too strong, the only way to obtain the decryption key for your files is to pay the ransom. Many ransomware victims don’t have time on their side because they are facing significant business disruption. Each minute that passes could be a lost client, or worse for a medical organization. Here is a list of the most prevalent ransomware variants that are known to be “cryptographically secure,” which means that Proven Data or the security community has confirmed the encryption is unbreakable:
I don’t want to pay the hackers ransom.
Businesses and individuals have the option of choosing not to pay the ransom in a ransomware attack to regain access to their files. For personal, political, or moral reasons, there has been resentment of the ransomware economy, and victims do not have to engage in extortion. If paying the ransom is the only option, you should know what to expect before considering moving forward.
How a ransomware recovery specialist can help
If you do decide to use a ransomware recovery company and if there is one thing you get out of this article, it is this: You should always question how a ransomware recovery company is recovering your data. If you are unsure, asking the right questions will ensure a transparent experience:
How are you recovering my locked / encrypted data?
How much will ransomware recovery cost?
Do you have experience with this variant?
A ransomware recovery specialist can analyze your current situation and determine what options are available to you at the time of the inquiry. A competent and experienced ransomware recovery company should be able to provide the following:
Understanding the ransomware variant and what to expect
Malware analysis to determine if the encryption can be broken
Consultation on the attack vector which caused the attack and preventative methods
Digital currency readily available to facilitate the ransom payment expeditiously
Modification of non-functioning or poorly-functioning decryption programs that are causing delays in decrypting your files
Repairing damaged databases or files
Understanding how your files were affected by ransomware in the first place will provide you with the insight needed to prevent another attack. Whether you choose Proven Data or another company to decrypt your ransomware files, it’s important to know what unknowns there may be out there. Our threat intelligence that we’ve gathered from the thousands of previous cases enable you to make informed decisions in helping restore your data after a ransomware attack. If you require a company with such experience, we’re standing by to assist 24/7.
Building the infrastructure for the Bitcoin Standard in Canada before the collapse of fiat currencies is the critical mission objective that drives innovation at Bull Bitcoin. We are very excited to announce an important milestone in fulfilling this duty: the public release of Liquid CAD, our newest product designed to accelerate and facilitate the adoption of Bitcoin. Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
L-CAD assets can only be redeemed for Bitcoin. They cannot be redeemed for a fiat currency payment.
Liquid CAD is a unique project rethinking the concept of fiat-pegged assets, avoiding the banking business model of “fiatcoin” (aka stablecoins) in favor of a prepaid payments model entirely centred around Bitcoin on-ramp and off-ramp. Liquid CAD is not a currency, nor is it a security: it is a prepaid card. Importantly, the business model of Liquid CAD is not to collect interest on funds in our custody, unlike fiatcoins, but rather to drive the sales of Bitcoin from which we derive our revenue and we benefit from Liquid CAD assets being cashed out and thus removed from our balance sheet. Bull Bitcoin does not get any revenue from interest. Every time an L-CAD token is purchased by a user, the amount of dollars deposited on Bull Bitcoin is guaranteed to one day be used by someone to purchase Bitcoin. It’s a one-way street: once a unit of fiat is tokenized as L-CAD, it’s never going back to its off-chain fiat form and will ultimately result in a buy order on a Bitcoin trading platform. The Liquid CAD logo is a drop of blood because our objective is to accelerate “fiat bleed”, a phenomenon best described by Pierre Rochard in his magnificent essay Speculative Attack:
“Bitcoin will not be eagerly adopted by the mainstream, it will be forced upon them. Forced, as in “compelled by economic reality”. People will be forced to pay with bitcoins, not because of ‘the technology’, but because no one will accept their worthless fiat for payments. Contrary to popular belief, good money drives out bad. This “driving out” has started as a small fiat bleed. It will rapidly escalate into Class IV hemorrhaging due to speculative attacks on weak fiat currencies. The end result will be hyperbitcoinization, i.e. “your money is no good here. Bitcoins are not just good money, they are the best money. The Bitcoin network has the best monetary policy and the best brand. We should therefore expect that bitcoins will drive out bad, weak currencies. My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyperbitcoinization.”
Different representations of Canadian dollars compete to be used as payment methods (cash, bank balances, PayPal balances, closed-loop prepaid cards, open-loop prepaid cards, etc.) and that the winner will be the one that has the best Bitcoin saleability, i.e. which can be most easily sold for Bitcoin at a moment’s notice. We’re very proud to provide this alternative payment method to Canadians in a time where the banking system is falling deeper into crisis, especially as the Canadian dollar is demonstrating itself to be one of the most pointless and weakest currencies that nobody really wants to hold. Finally, we’re very happy to be partnering with Aquanow, our recommended institutional liquidity provider for high-volume BTC-CAD trading. They will accept Liquid CAD deposits and withdrawals as being interchangeable with Canadian dollars. We hope that Liquid CAD will become the standard representation of Canadian dollar value among Canadian Bitcoin users.
Liquid Bitcoin (L-BTC) integration
In addition to Liquid CAD, Bull Bitcoin is also announcing that Liquid Bitcoin (L-BTC) payments are now supported interchangeably with Bitcoin transactions for all Bull Bitcoin services. This means that our users can buy, sell and spend L-BTC instead of BTC. Canadian Bitcoin traders can purchase L-BTC from BullBitcoin.com and fund their international trading accounts with L-BTC using ultra fast and cheap confidential transactions. They can also cash-out their Bitcoin balance as L-BTC from these platforms and sell those L-BTC for fiat on Bylls.com, avoiding risky and expensive international wire transfers to unknown and untrusted foreign banks. The transactional benefits of L-BTC are very potent:
Transaction amounts are hidden, in compliance with Canada’s strict privacy protection laws
Observers cannot tell whether the transaction is L-BTC or any other asset
Confirmation times are 1 minute
Transaction fees are very low (< 0.05$)
Disclaimer: Liquid Bitcoin (L-BTC) is not the same as Bitcoin (BTC). L-BTC Liquid Network assets are IOUs for Bitcoin held in a multisignature contract by the Liquid Network federation. The custody of the underlying Bitcoin is managed by a decentralized network of 15 members which process transactions and withdrawals from the multisignature contract according to the Liquid Federation protocol rules.
Liquid CAD detailed overview
Peer-to-peer prepaid payments by Bull Bitcoin
Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of the Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
A new payment method in Canada
Liquid CAD can be used by anyone to send and receive payments denominated in Canadian dollars. Because of the permissionless nature of the Liquid Network, Bull Bitcoin cannot prevent Liquid CAD from being traded on secondary markets. Merchants, individuals and institutions must accept that only Bull Bitcoin can guarantee redemption of the L-CAD and that this redemption will be exclusively paid out in Bitcoin. Accepting Liquid CAD as payment is, in effect, the same as accepting gift cards as payment. However, Bitcoin being the most liquid commodity on the market, it can be transformed into any other currency easily for example using services such a Bylls which allow Canadians to pay all their utility bills, send bank transfers to third parties or sell Bitcoin to their bank account.
Making Canadian dollars bleed into Bitcoin
The purpose of Liquid CAD is to facilitate the transfer fiat in the context of the purchase and sale of Bitcoin and providing innovative new services that help Bitcoin users hedge the value of Canadian dollars against Bitcoin in the context of their commercial transactions. Our goal is to create a payment method that is specifically targeting Bitcoin users that wish to liquidate Canadian dollar payments for Bitcoin. Our mission is to accelerate the phenomenon known as “fiat bleed” whereby Canadians will gradually abandon inferior money (such as the Canadian dollar) for the superior Bitcoin alternative. Every Liquid CAD issued will ultimately be exchanged into Bitcoin. We are excited for the day Liquid CAD will be made obsolete by the inevitable hyperbitcoinization of the Canadian economy.
Like all other closed-loop prepaid instruments, Liquid CAD has counterparty risk. The owners are trusting that they will eventually be able to use Liquid CAD as a payment method on the Bull Bitcoin platform to fund their account and purchase Bitcoin. When a Bull Bitcoin user withdraws his Bull Bitcoin account balance as an L-CAD token, the Canadian dollars he used to fund this balance remains in our possession in the same manner as regular Bull Bitcoin vouchers. These funds are used to execute Bitcoin purchases when L-CAD owners decide to redeem their L-CAD for Bitcoin. In essence, each L-CAD is “backed” by the Canadian dollar deposit of the user that withdraws it from the platform in the first place.
Benefits of using and accepting Liquid CAD for payments
Irreversible, non-custodial and no bank required
Liquid CAD payments cannot be charged back, cancelled, delayed or frozen. There is no intermediary between the sender and the recipient. It is a bearer asset: whoever owns the keys owns the coins. It is a perfect way to accept payments or transact securely without depending on banks and payment processors. Canadians can use Liquid CAD to purchase Bitcoin and then use Bylls.com to pay billers, personal payees or simply sell Bitcoin to their bank account.
Fast transaction and cheap fees
Liquid Network transactions are sent and received instantly and require 1 minute for settlement. Transaction fees paid using Liquid Bitcoin can be as low as 300 satoshis per transaction (a few cents). In order to benefit from these cheap fees, make sure to download the latest version of the Elements software and ensure that the minimum transaction fee is set at 100 satoshis per kilobye. It only takes a few minutes to set up a free Liquid Network wallet, such a Green Wallet by blockstream.
Unlike Bitcoin, transactions between the sender and the recipient are encrypted. It is impossible for third parties observing Liquid CAD transactions on a block explorer to determine the amount of the transaction. In addition, it’s also impossible to even know you are using Liquid CAD, since the data identifying the asset itself is also encrypted!
What are the use-cases of Liquid CAD?
Buying and selling Bitcoin
The primary use-case of Liquid CAD is to make it easier to buy and sell Bitcoin on the Bull Bitcoin platform. By withdrawing their balance from Bull Bitcoin, users are reducing some (but not all) of the custody risk associated with keeping fiat currency on an exchange. For example, use Liquid CAD to create your own non-custodial dollar-cost-averaging schedule!
Onboarding new Bitcoin users
New users can be overwhelmed by the experience of dealing with banks to buy Bitcoin (and the heavier KYC process of account funding). You may be tempted to buy Bitcoin for them, but that will impose a lot of burdens on you. It’s much easier to set them up with a Green wallet, send them Liquid CAD and show them how to use Bull Bitcoin! They decide when is the right time for them to invest, with a lower KYC burden.
Hedging Bitcoin price
You may believe the price of Bitcoin will go down in the short term, but you still want to hold Bitcoin in the long term. Normally you have two options: short the Bitcoin price (very risky!) or sell your Bitcoin and receive Canadian dollars in your bank account (inconvenient!). By selling your Bitcoin for Liquid CAD, you can lock in the value of Bitcoin right now and buy them back later without needing to use your bank account or taking risks with leverage.
As a merchant, you want to receive the settlement of payments in Bitcoin. But this imposes a burden on your customers, which have to deal with the Bitcoin price volatility when they are paying you. Ask your clients to pay you with Liquid CAD, and you can get the settlement with Bitcoin on your own terms.
Payroll and suppliers
What if your staff or suppliers want to get paid in Bitcoin? It can be very difficult, because this means you are effectively buying Bitcoin on their behalf. Instead, you can pay them in Liquid CAD and let them deal with the process of choosing the exchange rate and using their own wallet. Let them deal with the tax burden, exchange rates and Bitcoin wallet security.
List of Bull Bitcoin Liquid Network features
Withdraw account balance as L-CAD
This is conceptually the same as “buying” Liquid CAD with your account balance. We call it “Withdrawing L-CAD” because on the Bull Bitcoin platform, we consider L-CAD and CAD to be interchangeable and fungible.
Fund account balance with L-CAD
To redeem Liquid CAD for Bitcoin, users need to first fund their account by selecting the “Deposit L-CAD” payment method. Bull Bitcoin users must always fund their account first before buying Bitcoin, and then purchase Bitcoin with their account balances. Reminder: account balances cannot be withdraw as fiat payments, but can later be withdrawn again as L-CAD.
Sell Bitcoin for L-CAD
You can sell Bitcoin and receive Liquid CAD payments instead of a bill payment, personal payee payment or bank payment. As soon as the Bitcoin transaction is confirmed, the Liquid CAD transaction is sent to the address you provided.
Liquid Bitcoin (L-BTC) and Bitcoin interchangeability
For every service which involves a Bitcoin payment, the user can substitute traditional Bitcoin payments for Liquid Bitcoin payments. This includes:
Market Analysis on April 2, 2020: Tether Newly Minted 60 Million USDT
[Today's Hot Tips] 1.[1 billion XRP transferred to wallet and locked] 1 billion XRP are divided into three successive times: 500 million, 400 million, and 100 million, respectively; from the escrow wallet to the Ripple wallet, 900 million XRP have been transferred back to the escrow wallet and locked. 2. [Vitalik Buterin proposes plansto improve Ethereum privacy] Vitalik Buterin proposed plans to improve the Ethereum privacy and use the Ethereum domain name system to implement address hiding: that is, to send tokens to an address with the name of the ENS (Ethereum Domain Name System), without revealing who actually received the coins. 3. [GitHub will store a large amount of open source code in a underground coal mine in Norwegian Iceberg] GitHub will store a large amount of open source code, including the underlying infrastructure code of Bitcoin, in an underground coal mine in the Norwegian Iceberg. These codes will be copied onto the film and stored for 1,000 years to ensure the preservation of history. 4.[Tether newly minted 60 million USDT] At 02:43 on April 02, Beijing time, Tether Corporation newly minted 60 million USDT. This is an authorized but unissued transaction, which means that the amount will be used as inventory for the next issue request. 5. [Jiang Zhuoer: "It is impractical to use the blockchain as a network disk"] Jiang Zhuoer: The proposition of unlimited blocks such as "use the blockchain as a network disk" by the BSV group based on CSW exceeds the maximum capacity of the blockchain, which is unrealistic. This will cause the most important decentralization feature of the blockchain to disappear. [Today's market analysis] https://preview.redd.it/19yxg56y4dq41.jpg?width=554&format=pjpg&auto=webp&s=55ca5e78e58a55964f3790ecaa4000f058655f09 Bitcoin (BTC)In the early hours of this morning, BTC continued to be sideways around $ 6200. It rose at about 3:30 and rose to $ 6549.95 at about 6.30. Now it is adjusted around $ 6530 as a whole. The mainstream currencies are mixed. BTC is currently reported at $ 6604.49 at LOEx Global, with an increase of 5.98% in the day. Yesterday, BTC rose sharply before the close, breaking through the first pressure level, closing around 6600 points, the price showed an increase, and the price trend remained neutral. If it continues to rise today, the price trend will reverse the trend. In short, it is the case that the novel coronavirus seriously affects normal business production. After the countries around the world have eased the liquidity crisis through "detect banknotes", we are about to face unavoidable inflation. The extra money will surely flow into certain investments thus promotes the appreciation of these investment targets—However, for ordinary investors, what needs to be done is to find the investment target with the highest cost performance and the greatest development potential according to their actual conditions, and get involved in advance. If BTC stabilizes in this range and fully reflects the best investment target, it will be favored. Operation recommendations: Support level: the first support level is 6300 points, and the second support level is an integer of 6380; Resistance level: the first resistance level is 6882 points, and the second resistance level is 6962 points.LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 1 million community members in 24 hours.
Recently set up a new 0.19.1 Bitcoin Core node on a Win 10 machine, No coins stored and no transactions or send/rcv addresses as yet. Unlike other nodes I run, when holding the cursor over the "HD" symbol, it says "HD key generation is enabled". Other nodes say "disabled". What's that about? Wallet on the new node is encrypted and currently locked. TIA.
Today we will talk about the security of using the Tkeycoin platform and the TKEYSPACE mobile blockchain wallet. Tkeycoin is a peer-to-peer payment system based on p2p principles and the concept of electronic cash. P2P technology is a fairer means of mutual settlements between users and companies around the world. Modern payment systems are imperfect and may depend on the will of high-ranking officials. We approached the market from an economic and scientific point of view, borrowing the best from Bitcoin, Ethereum, DASH, and other alternative currencies, mixing modern concepts and building on the global experience of IBM, Microsoft and a number of other companies and research. The Tkeycoin blockchain is protected by various mechanisms that include advanced cryptographic methods and mathematical models of behavior and decision-making. Blockchain technology prevents duplication or destruction of digital assets. https://i.redd.it/idy42g9rntx41.gif In addition to providing security and recording transactions in registers, cryptography also plays a role in ensuring the security of wallets used to store Tkeycoin. Paired public and private keys, which respectively allow users to receive and send payments, are created using asymmetric encryption or public-key cryptography. Public keys are used to generate digital signatures for transactions, which allows you to authenticate ownership of the coins being sent. https://i.redd.it/95yuky0tntx41.gif The asymmetric cryptography architecture does not allow anyone other than the owner of the private key to access funds stored in the cryptocurrency wallet, so these funds are kept safe until the owner decides to spend them. In simple words, in the Tkeycoin peer-to-peer system, only you are the real owner of your money and only You have access to it. Using tools such as a local Tkeycoin Core wallet or TkeySpace provides you with reliable storage, privacy, and security. TkeySpace, in turn, adds maximum usability by combining the highest level of security and easy intuitive design. https://i.redd.it/f0de51vuntx41.gif
How does TKEYSPACE provide security?
TKEYSPACE is one of the first applications that support blockchain in a mobile device and is also the first decentralized application of the TKEY platform. Its serverless architecture provides the highest level of security for storing all assets in the application. unlike centralized applications that are managed by companies, TkeySpace does not have a Central management authority and operates in accordance with all the principles of peer-to-peer networks. https://preview.redd.it/4bret8hwntx41.png?width=1253&format=png&auto=webp&s=535c5d879a36eac4ca8c807ee7af1b5fe05e12a9 As we said above, the wallets in the blockchain have a public and private key. Centralized applications usually store users ‘private keys on their servers, which makes users’ funds vulnerable to hacker attacks or theft. TkeySpace-stores the encrypted key only on the user’s device and in encrypted form. The encrypted key is displayed as a mnemonic phrase (backup phrase), which is very convenient for users. Unlike complex cryptographic ciphers, the phrase is easy to save or write. The backup phrase provides the maximum level of security and thanks to its usual appearance, an attacker is unlikely to ever guess what these words are and what they are for. A mnemonic phrase is 12 or 24 words that are generated using random number entropy. If the phrase consists of 12 words, then the number of possible combinations is 2048¹² or 211³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in the strict order as it was presented after generation. And so that you do not get confused in the definitions and concepts, we will briefly describe simple and clear principles of how it all works. Let’s look briefly at the factors.
The simplest thing that protects your phone from unauthorized access is Pincode, a snake, a fingerprint or a Face Id login. And it would seem that this is related to TKEYSPACE? https://i.redd.it/sspjjsgyntx41.gif
At a minimum, it is almost impossible to open new mobile devices and pick up a pin code, even in the case of theft, most often the factory settings are reset, which leads to the deletion of all data on the phone, respectively-your funds are safe even for this reason.
Even if there was some “craftsman” and somehow managed to change the pin code on your device, the TKEYSPACE app will automatically delete all the keys and backup phrases, the wallet will simply be empty, and the attacker will be left with nothing.
As we can see, even a simple screen lock with a pin or fingerprint protects your data. It’s not as simple a screen lock as you and I might think. Every platform, whether it’s Android or AppStore, uses specialized key stores. Cryptography, symmetric and asymmetric encryption, keys, and certificates are directly related to this task. Keys and certificates that are used to protect information must also be securely protected. Android uses Keystore, a certificate and a Keystore, for this purpose. Keystore is a specialized secret data store that is used by Java applications to encrypt, authenticate, and establish HTTPS connections.
For two-way authentication, the client and server exchange certificates, respectively, and the server and client must have a Keystore with a private/public key pair and a certificate. In other words, the Keystore is used to store keys and certificates that are used to identify the key owner (client or server).
Starting with Android 8, the encryption systems have been upgraded, the system is checked for signs of hacking at startup, and the screen lock allows you to restrict access to the device. Data encryption and the use of keys ensure the security of information when it is stored and transmitted. https://i.redd.it/2c0b9re1otx41.gif In the new version of the OS — Android 9 (Pie) — the developers also added support for hardware to protect against unauthorized changes. Android apps run in an isolated software environment that restricts access to your information to other apps. OS components are also protected, which prevents attackers from exploiting system errors for their purposes. Android uses both hardware and software to protect users and their data. Therefore, even at the operating system level, there are a lot of security factors. Of course, if you “flash” the phone (change the factory firmware) and enable Root access, this will reduce the security of Your device, but this is more an exception than a rule and such changes are usually introduced by very experienced users. IOS uses Keychain — a specialized database for storing metadata and confidential information. Using a Keychain is the best practice for storing small pieces of data that are critical to your apps, such as secrets and passwords. In addition to the Keychain, Apple provides a full range of maximum protection for Your device. And so we will continue,
Passcode in the app
Now we understand that to get access to the tools, an attacker needs to hack the hardware security of the Google and Apple giants to somehow get access to the app, which is impossible. To increase security and eliminate other risk factors, we have included an access code (secret code) in the app. You set an additional level of security by enabling a pin code to log in to the app. The access code additionally encrypts all data stored in the app. Just so you understand — it’s not just numbers that you enter on the screen, this combination affects the ciphers inside the app. When creating a key, a user interface element is called. when the user swipes the screen, the application receives a random set of bytes — thus, all information is additionally covered by a new layer of cryptography. And as we said above, if you try to disable the pin code, the app will delete all the data, and the attacker will be left with nothing. As we have already realized, only 2 of these factors provide the maximum level of security for the TKEYSPACE application. And the most important thing is that the application runs on the blockchain, which guarantees its full Autonomous operation, data immutability, and privacy. Generation of new addresses, absence of accounts, phone numbers, e-mail and other personal data-provides you with a social level of security, which is a huge advantage in our time. In a world where security is based on the level of cryptography, attackers try to influence You with the human factor using social engineering, so when you use applications with accounts, phone numbers, you have more risks.
Social engineering is a method of obtaining the necessary access to information based on the characteristics of human psychology.
For example, a copy of a SIM-card has become a new tool for fraudsters, but there is no personal information in TKEYSPACE, so even such groups of fraudsters can’t get access to your funds.
You don’t have to worry about security — it’s already built into the TKEYSPACE system.
A mixed encryption system based on the principles of computational complexity, with the deterministic generation of signatures using elliptic curves, provides absolute security and safety of user funds, and reserve phrases will help you restore funds at any moment. A mnemonic phrase is 12 or 24 words that are generated using the entropy of random numbers. If the phrase consists of 12 words, then the number of possible combinations is 2048¹² or 211³² — the phrase will have 132 security bits. To restore the wallet, you must enter the mnemonic phrase in the strict order as it was presented after generation. Only you and no one else has access to the phrase. When you get the key, the app has restrictions on the screenshot, and the clipboard is disabled, which protects against malicious software. It is you, as a user, who sees the phrases, and everything in the device is encrypted, the blockchain architecture protects against hacker attacks, information forgery, and other hacks. For those who are a bit obsessed with persecution mania, we offer a small lifehack:
Buy several USB drives, connect them to a device that does not have access to the Internet, preferably on a clean operating system, create a text file, write backup phrases there, and encrypt the USB drives with passwords.
Make money with Etherum Million momey smart contract
What is a smart contract? A smart contract is a computer algorithm that controls the completion of a transaction. It is entered into the blockchain and remembered forever. The conditions are the same for everyone and cannot be changed or deleted by anyone. A smart contract makes financial transactions automatically, without human intervention, according to conditions written in advance. Example 1. You and a friend bet on the outcome of a football match. You make bets in the blockchain in the form of transactions, which are stored there until the end of the game. When the match ends, the smart contract automatically checks its outcome on one of the sports sites and transfers all the money to the winner. Example 2. You ordered a product through an online store. Payment for the goods is recorded on the blockchain, and only after confirmation by the courier that the goods have been delivered, the money goes to the owner. Nobody will deceive anyone, everyone sees the text of the program and understands that it works exactly as it is written in it. A smart contract is not a person, it will not lie and will not hide with money. Data is encrypted and distributed on the blockchain and duplicated many times, it cannot be changed or deleted. A verified smart contract will work as long as the Ethereum blockchain exists.
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Which are your Top 5 favourite coins out of the Top 100? An analysis.
I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year? Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0 The 12 markets are
Currency 13 coins
Platform 25 coins
Ecosystem 9 coins
Privacy 10 coins
Currency Exchange Tool 8 coins
Gaming & Gambling 5 coins
Misc 15 coins
Social Network 4 coins
Fee Token 3 coins
Decentralized Data Storage 4 coins
Cloud Computing 3 coins
Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first: Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars. Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate. For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet. With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding. However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant. Without further ado, here are the coins of the first market
Market 1 - Currency:
Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
Bitcoin Diamond Asic resistant Bitcoin and Copycat
Market 2 - Platform
Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
Ontology: Similar to Neo. Interesting coin
Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
Nxt: Similar to Lisk
Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
Neblio: Similar to Neo, but 30x smaller market cap.
NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.
Market 3 - Ecosystem
The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
Aion: Aion is the token that pays for services on the Aeternity platform.
USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
Market 4 - Privacy
The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.
Market 5 - Currency Exchange Tool
Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
Achain: Building a boundless blockchain world like Req .
Req: Exchange between cryptocurrencies.
Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.
Market 6 - Gaming
With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
Storm: Mobile game currency on a platform with 9 million players.
Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
Wax: Marketplace to trade in-game items
Market 7 - Misc
There are various markets being tapped right now. They are all summed up under misc.
OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
Ncash: End to end encrypted Identification system for retailers to better serve their customers .
Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .
Market 8 - Social network
Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.
Market 9 - Fee token
Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
BNB: Fee token for Binance
Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
Kucoin: Fee token for Kucoin
Market 10 - Decentralized Data Storage
Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.
Market 11 - Cloud computing
Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
Elf: Allows easy use of Cloud computing in exchange for tokens.
Market 12 - Stablecoin
Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor. EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
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How Bitcoin Wallets Work (Public & Private Key Explained ...
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