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WELCOME TO DBXCHAIN OFFICIAL REDDIT - Introducing the future of Data-based Blockchain with the world's first D-DPoS consensus mechanism ABOUT DBXCHAIN 🔥DBXChain is disrupting the Blockchain industry with a value-based ecosystem and decentralized DDPoS Consenus Mechanisms
Just found a possible side chain for Nano to operate on. Which provides privacy and cross-chain access to Bitcoin, Monero, Ethereum, ERC-20 Tokens, Binance Chain, Ziliqa, and Tomo Chain currently and with future support for Ontology, Ripple, NEO, Cosmos, and EOS.
So the project is called Incognito, they aim to bridge as many networks as possible and allow for private sends within the Incognito network. Users can send out of the Incognito network back to the native BTC, ETH, XMR, etc network without ever exposing their initial account. I love nano, but the lack of privacy makes it unusable for me. Having a decent cross-chain "mixer" like this makes me more comfortable about moving funds from my HODL account to my SPEND account. This can also increase the accessibility to our network allowing for anyone with some crypto to swap for nano through their private DEX. The project is still young but they already have $22Mil worth of assets "shielded". Do you all think it would be worth petitioning to get Nano's chain supported on here as well? How the shielding works:https://we.incognito.org/t/shielding-cryptocurrencies-turning-any-cryptocurrency-into-a-privacy-coin/83 Example swap of BTC to XMR using the pDEX:https://we.incognito.org/t/buy-and-sell-monero-xmr-confidentially-without-kyc/415 Note: Block times are currently 40 seconds, and it would cost you 0.01% to unshield your funds, so like $0.10 for every $1000 that you ran through the network. Seems worth it for some privacy.
0.1806 OMG at current OMG price $4.00 is about $0.72 which is still really high for small transactions. Why setting this high fee? And how to decrease it? And also is it possible to pay the fee in USDT or other ERC20 tokens? Ethereum is not that expensive at the beginning. Shouldn't OMG network use low fee to attract users and build network effects first?
Why I’m Bullish on Yield Farming Ahead of the Eth 2.0 Launch
Hello everyone! I noticed that the hype around yield farming and DEX protocols kinda died down and that people focus more on NFTs and artwork-based projects like Rarible. I figured it would be great to (shortly) explain why yield farming lost its popularity and why they will have a comeback ahead of the new ETH 2.0 launch. If you’re not new here, you know how the DeFi market evolved in the past months. We had a surge of yield farming (liquidity providing) platforms that were hyped at the very beginning but lost a majority of their users real fast, sometimes only days after launching. I believe that most people were disappointed by this sort of mini speculative bubble and the fact that most projects had devs who rug pulled. Combined with the fact that Ethereum had high network congestion at several points in September and October, traders simply decided to prevent further losses and leave this niche place LP once and for all. Don’t get me wrong, there are still plenty of yield farming projects that people use and it’s not like people stopped token swapping on Uniswap or anything. Ethereum also calmed down a lot now and the average transaction costs only like what, 80 gwei? But still, I think that people are pretty much aware that if another hype cycle started, the very same pattern would repeat again. My take on this is that yield farming will regain its popularity in December around the time Ethereum 2.0 launches with its first phase and a lot of scaling solutions like Optimistic launch. If everything runs smoothly, we should have the building blocks for resuming the DeFi bull run and turning yield farming stable, rewarding, and popular once more. Sure, Ethereum is only launching a small network upgrade that will run side-by-side with the original network, so we won’t see any technical changes anytime soon. But I really believe that ETH 2.0, along with other scaling solutions, will bring back trust and show that there is indeed a bright future for blockchain-based technology ahead of us. And in that future, Proof-of-Stake and liquidity providing will be the modern mining equivalent of running a Bitcoin farm in 2011. One thing that I’m worried about is that enthusiasts, traders, and investors will still fall for the same projects that promise too much and deliver little. We saw numerous projects that were regarded as reputable in the beginning collapse within a week, like SushiSwap. But at the same time, my line of thinking is that projects that focus on development and spend minimal time on marketing will surface to the top in the end. For example, while everyone was using Uniswap to swap tokens and provide liquidity, I was doing the same exact thing but cheaper on Anyswap. It is kinda funny since people boast that they earned $1200 through the UNI airdrop but I know for a fact that they spent way more on fees. And guess what? I didn’t even break a $100 threshold in the last three months while using Anyswap. I’m not trying to bash Uniswap here, but all I’m saying is that we already have scalable solutions now but people are too scared to introduce new changes in their lives. I’m not here to market you anything. I just want to show you that even today, in October 2020, you can discover scalable and rewarding projects that simply work. Find any developer team that works all the time and doesn’t have the time to brag and you’ll know you’re on the right road! Last time I checked, the Anyswap team revealed that the average APY return for their yield farming pools ranges between 100% to 900%. When I asked my crypto friends if they know about this, I found that none of them even heard of Anyswap. DYOR and find out about the project on your own. I promise that reading about Anyswap and the blockchain it’s based on (Fusion) will be worth the time.
*This is not financial advice or suggestion. Just my opinion* Legend: "S" - super "A" - really good "B" - good "C" - has potential "D" - keeping an eye on it "E" - coins to gamble on Digibyte [DGB]: "S" I mentioned this coin a few times already. It's because DGB is a true successor of Satoshi's philosophy. It's the purest coin in the market. DGB is the "people's money". Dash [DASH]: "S" DAO and masternodes are the future. Satoshi had a vision of altruism. But we cannot expect people to be altruists and lend their infrastructure for the wellbeing of others. The community is just not strong enough to do so. Masternodes are a meritatory focused system to reward those who are willing to lend their infrastructure to be a node in the network. It's a win-win situation for the network and the node owner. Besides acting as a node, it allowed the development of some other features like optional privacy and instant payments. Monero [XMR]: "S" When we think about cash, one of its best features that come to mind is privacy. Monero is probably the most famous privacy coin. Transactions are private by default. Another great thing that Monero is taking care of is the prevention of mining centralization. Being able to mine a coin with a CPU is probably one of the main concepts we forgot when it comes to allowing every person to participate in the network. Vechain [VET]: "A" If you think about the use-cases of blockchain, you cannot forget how impactful it will be for supply chains. So far, Vechain is one of the best solutions. It's also the most adopted for now. Nexus [NXS]: "A" NXS is a coin that deserves to be in the "S" category. But there's still a long way to go for it to achieve that rank. It's a forward-thinking project. They understood how far decentralization has to go to achieve the real meaning of the word. They even though of the quantum computer problem. Fast database, satellites, quantum-resistant, decentralized internet, and user-friendliness are just a few keywords they focus on while developing the coin. Bitcoin [BTC]: "A" I'm somehow ashamed to put Bitcoin this low. But let me explain why I did so, while still keeping it in my top list. First of all, I have to say: "Thank you Satoshi!". Bitcoin got this low on my list because I have a feeling too many powerful people got their hands on it. Some got in for the right reasons, while others are not so benevolent. Bitcoin is not "people money" anymore. IMO (very very humble opinion), Bitcoin was a demo project. A very successful demo project. Satoshi gave us an open-source code as a gift to do with it whatever we want. Blockchain is the gift he gave us, not Bitcoin. And we (the community) did it. Bitcoin became a brand. More people heard of the word "Bitcoin" then "cryptocurrency". On the bright side, Bitcoin is the biggest network in the world. While this is true, hodling some is a good idea. Litecoin [LTC]: "B" At its time, not many understood what Bitcoin is, and what potential blockchains as technology have. Imagine how forward-thinking was Mr. Charlie Lee. He created the first altcoin. Technology-wise, LTC is a different coin. Mr. Lee didn't just copy-paste the code and name it differently. In my eyes, LTC will always be the "crypto silver" making it a good store of value and medium of exchange. Chainlink [LINK]: "B" I believe the solution they are going to provide is too important for the crypto space to ignore it. Oracles are the future, but until we don't see real use-case, it will remain listed as "B". Another reason that doesn't give him the right to be higher in the list is that it's an Eth token. Dogecoin [DOGE]: "C" When you think about content creation, you'll see it's highly centralized. Creators depend on the platform's policies and bread crumbs those platforms leave them even after people click on ads. One of the solutions to reward good creators is to make a fast and easy to use tipping system. The first thing that crosses your mind are probably tokens. But imagine a blockchain of its own that enables fast and cheap transactions. Yes, DGB is the way to go. But there is a coin with higher inflation which you don't want to hold for a long time, but spent around to reward other's work that helped you in some way or you enjoy reading or watching. Dogecoin has the potential of becoming the chosen one for this exact purpose. Verge [XVG]: "C" When Wikileaks added BTC as a donation medium, Satoshi politely asked to remove it because we were poking the hornet's nest. I don't remember he's exact words, but this was the context. A similar thing happened to Verge. It was like the flight of Icarus. Pornhub listed it as an optional payment method drawing a lot of attention to it. Verge was not mature enough for that kind of exposure. After that, it suffered an attack, and people gave up on it. But if you look closely at the technology behind it, you'll see it's a really good coin. It offers privacy differently then Monero does. If you already haven't, I strongly encourage you to read about Verge's tech. You'll be amazed. "D" coins: Polkadot [DOT] Ethereum [ETH] Electroneum [ETN] Cardano [ADA] Siacoin [SC] "E" coins: Theta [THETA] Zilliqa [ZIL] Decred [DCR] Golem [GNT] Enjin [ENJ] Zcoin [XZC] Energi [NRG] Thank you Satoshi!
d down, k up, everybody's a game theorist, titcoin, build wiki on Cardano, (e-)voting, competitive marketing analysis, Goguen product update, Alexa likes Charles, David hates all, Adam in and bros in arms with the scientific counterparts of the major cryptocurrency groups, the latest AMA for all!
Decreasing d parameter Just signed the latest change management document, I was the last in the chain so I signed it today for changing the d parameter from 0.52 to 0.5. That means we are just about to cross the threshold here in a little bit for d to fall below 0.5 which means more than half of all the blocks will be made by the community and not the OBFT nodes. That's a major milestone and at this current rate of velocity it looks like d will decrement to zero around March so lots to do, lots to talk about. Product update, two days from now, we'll go ahead and talk about that but it crossed my desk today and I was really happy and excited about that and it seemed like yesterday that d was equal to one and people were complaining that we delayed it by an epoch and now we're almost at 50 percent. For those of you who want parameter-level changes, k-level changes, they are coming and there's an enormous internal conversation about it and we've written up a powerpoint presentation and a philosophy document about why things were designed the way that they're designed. Increasing k parameter and upcoming security video and everybody's a game theorist My chief scientist has put an enormous amount of time into this. Aggelos is very passionate about this particular topic and what I'm going to do is similar to the security video that I did where I did an hour and a half discussion about a best practice for security. I'm going to actually do a screencasted video where I talk about this philosophy document and I'm going to read the entire document with annotations with you guys and kind of talk through it. It might end up being quite a long video. It could be several hours long but I think it's really important to talk around the design philosophy of this. It's kind of funny, everybody, when they see a cryptographic paper or math paper, they tend to just say okay you guys figure that out. No one's an expert in cryptography or math and you don't really get strong opinions about it but game theory despite the fact that the topics as complex and in some cases more complex you tend to get a lot of opinions and everybody's a game theorist. So, there was enormous amount of thought that went into the design of the system, the parameters of system, everything from the reward functions to other things and it's very important that we explain that thought process in as detailed of a way as possible. At least the philosophy behind it then I feel that the community is in a really good position to start working on the change management. It is my position that I'd love to see k largely increased. I do think that the software needs some improvements to get there especially partial delegation delegation portfolios and some enhancements into the operation of staking especially. E-voting I'd love to see the existence of hybrid wallets where you have a cold part a hot part and we've had a lot of conversations about that and we will present some of the progress in that matter at the product updates. If not this October certainly in November. A lot of commercialization going along, a lot of things going on and flowing around and you know, commercial teams working hard. As I mentioned we have a lot of deals in the pipeline. The Wyoming event was half political, half sales. We were really looking into e-voting and we had very productive conversations along those lines. It is my goal that Cardano e-voting software is used in political primaries and my hope is for eventually to be used in municipal and state and eventually federal elections and then in national elections for countries like Ethiopia, Mongolia and other places. Now there is a long road, long, long road to get there and many little victories that have to begin but this event. Wyoming was kind of the opener into that conversation there were seven independent parties at the independent national convention and we had a chance to talk to the leadership of many of them. We will also engage in conversation with the libertarian party leadership as well and at the very least we could talk about e-voting and also blockchain-based voting for primaries that would be great start and we'll also look into the state of Wyoming for that as well. We'll you know, tell you guys about that in time. We've already gotten a lot of inquiries about e-voting software. We tend to get them along with the (Atala) Prism inquiries. It's actually quite easy to start conversations but there are a lot of security properties that are very important like end-to-end verifiability hybrid ballots where you have both a digital and a paper ballot delegation mechanics as well as privacy mechanics that are interesting on a case-by-case basis. Goguen, voting, future fund3, competitive marketing analysis of Ouroboros vs. EOS, Tezos, Algorand, ETH2 and Polkadot, new creative director We'll keep chipping away at that, a lot of Goguen stuff to talk about but I'm going to reserve all of that for two days from now for the product update. We're right in the middle, Goguen metadata was the very first part of it. We already have some commercialization platform as a result of metadata, more to come and then obviously lots of smart contract stuff to come. This update and the November update are going to be very Goguen focused and also a lot of alternatives as well. We're still on schedule for an HFC event in I think November or December. I can't remember but that's going to be carrying a lot of things related multisig token locking. There's some ledger rule changes so it has to be an HFC event and that opens up a lot of the windows for Goguen foundations as well as voting on chain so fund3 will benefit very heavily from that. We're right in the guts of Daedalus right now building the voting center, the identity center, QR-code work. All this stuff, it's a lot of stuff, you know, the cell phone app was released last week. Kind of an early beta, it'll go through a lot of rapid iterations every few weeks. We'll update it, google play is a great foundation to launch things on because it's so easy to push updates to people automatically so you can rapidly iterate and be very agile in that framework and you know we've already had 3500 people involved heavily in the innovation management platform ideascale and we've got numerous bids from everything. From John Buck and the sociocracy movement to others. A lot of people want to help us improve that and we're going to see steady and systematic growth there. We're still chipping away at product marketing. Liza (Horowitz) is doing a good job, meet with her two three-times a week and right now it's Ouroboros, Ouroboros, Ouroboros... We're doing competitive analysis of Ouroboros versus EOS, Tezos, Algorand, ETH2 and Polkadot. We think that's a good set. We think we have a really good way of explaining it. David (David Likes Crypto now at IOHK) has already made some great content. We're going to release that soon alongside some other content and we'll keep chipping away at that. We also just hired a creative director for IO Global. His name's Adam, incredibly experienced creative director, he's worked for Mercedes-Benz and dozens of other companies. He does very good work and he's been doing this for well over 20 years and so the very first set of things he's going to do is work with commercial and marketing on product marketing. In addition to building great content where hope is make that content as pretty as possible and we have Rod heavily involved in that as well to talk about distribution channels and see if we can amplify the distribution message and really get a lot of stuff done. Last thing to mention, oh yeah, iOS for catalyst. We're working on that, we submitted it to the apple store, the iOS store, but it takes a little longer to get approval for that than it does with google play but that's been submitted and it's whenever apple approves it or not. Takes a little longer for cryptocurrency stuff. Wiki shizzle and battle for crypto, make crypto articles on wiki great again, Alexa knows Charles, Everpedia meets Charles podcast, holy-grail land of Cardano, wiki on Cardano, titcoin Wikipedia... kind of rattled the cage a little bit. Through an intermediary we got contact with Jimmy Wales. Larry Sanger, the other co-founder also reached out to me and the everpedia guys reached out to me. Here's where we stand, we have an article, it has solidified, it's currently labeled as unreliable and you should not believe the things that are said in it which is David Gerard's work if you look at the edits. We will work with the community and try to get that article to a fair and balanced representation of Cardano and especially after the product marketing comes through. We clearly explain the product I think the Cardano article can be massively strengthened. I've told Rod to work with some specialized people to try to get that done but we are going to work very hard at a systematic approval campaign for all of the scientific articles related to blockchain technology in the cryptocurrency space. They're just terrible, if you go to the proof of work article, the proof of stake or all these things, they're just terrible. They're not well written, they're out of date and they don't reflect an adequate sampling of the science. I did talk to my chief scientist Aggelos and what we're gonna do is reach out to the scientific counterparts that most of the major cryptocurrency groups that are doing research and see if they want to work with us at an industry-wide effort to systematically improve the scientific articles in our industry so that there are a fair and balanced representation of what the current state of the art are, the criticisms, the trade-offs as well as the reference space and of course obviously we'll do quite well in that respect because we've done the science. We're the inheritor of it but it's a shame because when people search proof of stake on google usually wikipedia results are highly biased. We care about wikipedia because google cares about wikipedia, amazon cares about wikipedia. If you ask Alexa who is Charles Hoskinson, the reason why Alexa knows is because it's reading directly from the wikipedia page. If I didn't have a wikipedia page Alexa would know that so if somebody says Alexa what is Cardano it's going to read directly from the wikipedia page and you know and we can either just pretend that reality doesn't exist or we can accept it and we as a community working with partners in the broader cryptocurrency community can universally improve the quality of cryptocurrency pages. There's been a pattern of commercial censorship on wikipedia for cryptocurrencies in general since bitcoin itself. In fact I think the bitcoin article is actually taken down once back in, might have been, 2010 or 2009 but basically wikipedia has not been a friend of cryptocurrencies. That's why everpedia exists and actually their founders reached out to me and I talked to them over twitter through PMs and we agreed to actually do a podcast. I'm going to do a streamyard, stream with these guys and they'll come on talk all about everpedia and what they do and how they are and we'll kind of go through the challenges that they've encountered. How their platform works and so forth and obviously if they want to ever leave that terrible ecosystem EOS and come to the holy-grail land of Cardano we'd be there to help them out. At least they can tell the world how amazing their product is and also the challenges they're having to overcome. We've also been in great contact with Larry Sanger. He's going to do an internal seminar at some point with with us and talk about some protocols he's been developing since he left wikipedia specifically to decentralize knowledge management and have a truly decentralized encyclopedia. I'm really looking forward to that and I hope that presentation gives us some inspiration as an ecosystem of things we can do. That's a great piece of infrastructure regardless and after we learn a lot more about it and we talk to a lot of people in ecosystem. If we can't get people to move on over, it would be really good to see through ideascale in the innovation management platform for people to utilize the dc fund to build their own variant of wikipedia on Cardano. In the coming months there will certainly be funding available. If you guys are so passionate about this particular problem that you want to go solve it then I'd be happy to play Elon Musk with the hyperloop and write a white paper on a protocol design and really give a good first start and then you guys can go and try to commercialize that technology as Cardano native assets and Plutus smart contracts in addition to other pieces of technology that have to be brought in to make it practical. Right now we're just, let's talk to everybody phase, and we'll talk to the everpedia guys, we're going to talk to Larry and we're going to see whoever else is in this game and of course we have to accept the incumbency as it is. So, we're working with obviously the wikipedia side to improve the quality of not only our article but all of the articles and the scientific side of things so that there's a fair and accurate representation of information. One of the reasons why I'm so concerned about this is that I am very worried that Cardano projects will get commercially censored like we were commercially censored. So, yes we do have a page but it took five years to get there and we're a multi-billion dollar project with hundreds of thousands of people. If you guys are doing cutting-edge novel interesting stuff I don't want your experience to be the same as ours where you have to wait five years for your project to get a page even after government's adopted. That's absurd, no one should be censored ever. This is very well a fight for the entire ecosystem, the entire community, not just Cardano but all cryptocurrencies: bitcoin, ethereum and Cardano have all faced commercial censorship and article deletions during their tenure so I don't want you guys to go through that. I'm hoping we can prove that situation but you know you don't put all your eggs in one basket and frankly the time has come for wikipedia to be fully decentralized and liberated from a centralized organization and massively variable quality in the editor base. If legends of valor has a page but Cardano didn't have one until recently titcoin, a pornography coin from 2015, that's deprecated, no one uses it, has a page but Cardano couldn't get one there's something seriously wrong with the quality control mechanism and we need to improve that so it'll get done.
CEO KardiaChain Tri Pham - Aspiration for every Vietnamese person to own tokens.
At the beginning of last year, a Vietnamese Startup announced the successful construction of a multi-connected blockchain system called KardiaChain.In particular, recently KardiaChain officially launched a cooperation deal with Mai Linh Group to promote the use of KAI tokens into life. To better understand the mission of bringing Blockchain technology closer to the Vietnamese people, Beincrypto had the opportunity to interview Mr. Tri Pham - CEO of KardiaChain about the views and spirit that KardiaChain wants in the present and in the future. With the wish that every citizen owns tokens and realizes the huge potential of the Vietnamese market when the government and businesses still do not have a decentralized technology platform, Mr. Tri Pham and his colleagues have decided to quit his job in the UK to return to Vietnam to settle down. Reporter: As an entrepreneur with a dream career in the UK, why did you decide to return to Vietnam to build a blockchain startup. Do you feel that Vietnamese people are embracing Blockchain technology? Honestly, when my family knew I was doing blockchain or crypto, it was very frustrating. Because in Vietnam, hearing about Blockchain or Bitcoin thinks it is virtual money, so it is very shy. Businesses take a long time to learn about this technology. In the West, they already have solid information networks, technology systems, and digitalization available so when applying Blockchain will not add much value. In Vietnam, digital information system has not been widely applied, so it will be easier to apply a new technology. The next potential lies in the large Vietnamese population, a large number of young people, the high rate of mobile phone usage, and the rapid ability to access new information. I used to work and start a business in the technology field, so I want to build a blockchain infrastructure for Vietnam. I am a Vietnamese, so I always look to my homeland and want to bring products of genuine value to Vietnam. Reporter: Recently, KardiaChain has created an echo when cooperating with Mai Linh. How do you feel when you combine with Mai Linh group? Director of Mai Linh used to be a soldier, so he has a national spirit and wants to help Vietnamese people extremely. I see in Mai Linh that they are very humane, working I feel consistent with my values. The two sides have similarities in their goals and visions for a better Vietnamese society, so it's easy to work and they get a lot of support. Reporter: In the past, Kardiachain focused a lot on serving Government objects, businesses but not C2C, but what about now? What I want is that every Vietnamese person has KAI tokens in their possession. But to do this is really difficult because Blockchain technology itself is very complex, to ordinary people it is invisible, because they cannot see. One just needs to know "Ah! I have the token, how do I spend ". The goal of KardiaChain (KAI) is to bring a lot of value to the user, one does not need to know the underlying technology, one only needs to know the applications so they get used to owning and using tokens. I choose to approach businesses and organizations that own existing Customer files, with large data, the token will reach more users. Cooperation with businesses like Mai Linh or carriers like Viettel to bring tokens to many benefits for use in real life and that everyone can accept and easily use. Reporter: Coming up is the highly anticipated Mainnet event of KAI. What steps have you taken to prepare for a successful Mainnet launch? KardiaChain launched quite a few products starting at the end of 2018. While building infrastructure for Mainnet, KardiaChain contacted business parties in many other fields to know what they need to do to solve their business problems. industry has no answer. Through many times I have tested and run many products, I have recently selected only a few as key products. For example, a product that allows users to use tokens to vote, especially in the sports and game fields. Blockchain is decentralized, so it must be community-based, votes and votes must be trusted. Recently, KardiaChain also launched KAIstarter as a DeFi platform for KAI holders to invest in traditional businesses and earn stable profits and businesses also take advantage of a source to call a transparent investment fund. benefits for both parties. Reporter: When going into the mainnet, from the perspective of investors holding KAI, what benefits will it bring? The mainnet will make applications running on Kardia faster and more cost effective. Currently, some applications on KardiaChain running in conjunction with the Ethereum platform incur high fees. And the second advantage, when I have a mainnet, there are many better upgraded products. Reporter: Recently, KardiaChain has been continuously named on the potential token rankings of major overseas communities. So why do you think KardiaChain is so loved by the international community? Since its listing, the price of the KAI token has risen to a peak of 2000% and is well received by the international community. I think KAI has some values that Westerners like. There are people who first learned about KAI were quite surprised because KAI has been quietly developing products since 2018 and they understand Kardiachain is a serious project. The second point is that the Kardiachain team has a culture that says it can be done. The announced plans and roadmaps have all been implemented on schedule. And finally, the KardiaChain team did direct marketing, unlike projects that were set up to blow up the price of tokens, they regulate and release news many rounds to push the token price, but doing so is not sustainable, so then the price plummeted again. KardiaChain is not so roundabout that the announcement of the product launch is immediately out. Therefore, this creates confidence in KAI's sustainable development foundation. Reporter: Thank you Mr. Tri for yourtime. The fourth quarter of 2020 is sure to have many more milestones to look forward to for Kardiachain's supporters. Stay tuned and support Kardiachain! https://beincrypto.vn/ceo-kardiachain-tri-pham-khat-vong-tung-nguoi-viet-ai-cung-so-huu-token
Rough days transcript: the best is yet to come, kill the old system, BUIDL time, we live in a DeFi bubble, power to the edges, voting challenge and rembeber you're in control kids!
Hi everybody, Charles Hoskinson here, live from warm sunny Colorado! Always warm, always sunny, sometimes Colorado. I got my Massey Ferguson hat on. Take that off, see, my hair's all messed up. One of these days and we'll lose all that hair. It's a rough day today and that markets are terrible down 20 percent for most people and every now and then I talk about price. I rarely do but in general let's talk about the macro. You know crypto is a unique phenomenon. It's a unique thing and these are crazy times. I remember just a few months back when coronavirus first came out and we saw basically everything just bottom out everybody went crazy. They went to cash all asset classes. Just went to hell in a handbasket and I did a video and I said guys our best days are ahead of us as an ecosystem and as an industry and what happened everything got better over time. People started getting more optimistic. You know the reality is that we are seeing an old industry die right now, the legacy financial system. I just read Biden's tax plan. He wants to treat capital gains as ordinary income and put another 12 and a half percent on top of that. All this stuff and at the end of the day all these new taxes amount to a trillion or so extra dollars I think per year in income... Takes six years to the make back what they printed out of thin air for coronavirus and are willing to print again which begs the question why do we even pay taxes anymore if we can just print money out of thin air? We have a whole movement of people: the AOC crowd wake up every day and they say modern monetary theory, the actual supply, doesn't matter. All that matters is how much can we print and get away with it. This is where we're at as an economy right now and globally speaking a lot of other nations agree with this. So, given that the whole world, the leadership of the world, talking about negative interest rates, they're talking about predatory financial systems hyperinflation. Just print money, modern monetary theory, just print as much cash as you want and we look to the cryptocurrency industry, and god, we got a lot of problems... I think this (week's market) collapse is probably because one of the most prominent exchanges in South Korea got hit. They got shut down by the South Korean government and they at one time were responsible for a big part of the Kimchi premium and you know what? Korean government might shut down a few more Korean exchanges and usually the market based these things in. We got crazy yield farming weird stuff going on in the DeFi space. All these other local events and their blips they don't really matter that much just like corona in the long term won't matter too much in terms of the markets. What matters is the trend and where are we going. I had a meeting with some people this morning and we talked about revolutionizing the healthcare industry and getting things better in terms of supply chains. I had another meeting with a soon-to-be former Wyoming state representative about how we're going to get governments to adopt blockchain technology. I talk every day to governors, heads of state, congressmen, senators, mayors. Some cities, sometimes very large cities, with millions of people and they all say the same thing. We need help, we need solutions, we're damn tired of the way that the old system is running. You know what? if we don't solve it a lot of people are going to get hurt or continue to be hurt. The common theme that we all have is no one's happy. Look at the black-lives-matter protests, taking their philosophy of the organization aside, the rank and file people are there not because they love Marxism. They're there because they're unhappy with the way society is and why shouldn't they be? When my grandfather, got his first job, on my mom's side, out of the Korean war, he was a lineman and he made enough money from that job to have seven kids and have his wife stay at home. No college degree, fresh out of high school, fresh out of marine demolitions and a lineman. Five boys and two girls and he could take care of that family and save money every month. Have a car and a house and that was his standard of living. How many people in the middle class today in the United States or Europe for that matter have the ability on a single person's salary to raise seven children and have the wife or the husband stay at home? How many people, not many, why? because our monetary system has failed us. The inflationary policy has created a situation where the Jeff Bezos can have 200 billion dollars and make windfall profits every year regardless of how bad the economy is. The everyday people they don't get a pay increase, so in a lot of cases they don't get to keep their job and their money deteriorates in value a lot more than three percent per year. Our industry has principles in that we worship the math and the protocols and the stable monetary policy. These types of things, and as corrupt as some of the exchanges can be, and some of the bad actors are, all movements suffer from these warts, and they're finite and temporary. You run out of them. At some point self-regulation kicks in or standards kick in and these bad actors flush out and what's left behind is a crucible that contains the truth of the matter which is: we're going to win as an industry. There's just no doubt in my mind. You have bad days in the market, you have damn good days in the market, you get addicted to the good ones and you hate the bad ones but at the end of the day it's only going in one direction which is crypto is going to eat the world: every voting system, every property registration system, every monetary system, the next 25 to 50 years is going to be running on the tech we build and others build and running with the principles of power to the edges. This is the great challenge of our time. To do it in a way that it's fair, transparent, open and doesn't allow a government to co-opt it. It's gonna be a lot of fights here. The least of our concerns and matters are a red day and every now and then I like making these videos to remind people why I'm here and why you should be here too. As toxic as the trolls could be and these other people can be, none of them really matter. Markets don't really matter, what matters are the principles and the purpose behind what we do and you have to ask yourself are you happy with the way that society is? Are you happy with the money in your pocket? Are you happy with the political leadership representing your nations? Are you happy with your future and do you honestly believe if we keep doing the things that we did and continue to do that the future is going to be better or do you think it's going to be worse or stagnant? I think too many people have woken up and they realize that if we continue doing the things that we do the future is going to be a bad place and they don't want that to happen. We're voting with our wallets, we're voting with our feet and we as a collective industry are waking up and figuring out how to build something better and there's some good days and bad days along the way. Today's a bad one but there are going to be good days tomorrow just like I told you back when corona made everything go into free fall and I told you before and I warned you about with ICO mania. We're in a DeFi bubble right now, there's no doubt in my mind about that. I saw it in 2017 with ICO mania. I see it here and there's probably going to be worse days ahead in that respect but the trend is always the same and never forget that and never forget that real people are actually adopting these systems and using them. Every day we see more and more and every day that movement grows and what's so humbling is that I know a lot of you are here with me. It used to be pretty lonely space to be in a few years back. You know, the conferences, they didn't have many people. My first bitcoin meetup group in 2011 in Colorado is at the gypsy house cafe I think, in Denver. I registered for the event I showed up. Two people registered myself and another guy and the other guy didn't show up so I had coffee with myself. Compare that with the Shelley summit that we had in July of 2020. 10 000 attendees, 10 000 from all across the world, compare that to where we are at today just nine years later pretty amazing if you think about how fast things have grown and how many fertile beautiful ideas exist in this industry and what this industry is doing for the world as a whole. That is why we're going to win because at the end of day who can argue against freedom? Who can argue against liberty? Who can argue against putting people in control? The only way you can is when you believe people are stupid, people are evil, people are incapable and I suppose that's a philosophical difference between those who currently lead and the people who want to replace them. The people in charge right now of the world, the big banks, the fortune 500 companies, the media, Hollywood... These things, they're very cynical, people who believe in the worst in us they look at everyday people who sustain and disgust and say these people if left to their own devices will be chaos. These people, if left to govern themselves will burn everything to the ground and destroy everything and every single time I have ever seen a bad event happen what the news doesn't show you and what those people don't talk about is how we come together and help each other out. Someone gets injured in the streets more often than not people show up and help them, people need a helping hand. Someone always shows up more often than not and this is no different. I don't believe the political process is effective anymore in any modern democracy. They've all been co-opted, perhaps they always were but what I do believe is that we can come together and change things economically which is what we're doing. It's messy building our own money, it is messy building our own industry, it is messy. We make a lot of mistakes along the way. We lose a lot along the way, we collect some scars too while we're at it but progress every year keeps being made. The technology every year keeps getting better. Today, right here right now, provably secure proof of stake protocols are in circulation. They were a fantasy five years ago now they're a fact of life today. Right here right now snarks have evolved by an order of magnitude in every category from validation time to efficiency to proof size in all favorable ways which opens up all kinds of new applications and scalability and privacy. Today, right here right now, layer 2 protocols are more advanced than they have ever been in our industry's history giving us the ability to build payment systems that scale to billions of people. Today, right here right now, we are seeing massive innovations in governance and a fertile environment for things like approval voting, threshold voting, preference voting, quadratic voting, that will enable us to build all kinds of new treasuries and governance systems that eventually will scale to nation states. As the politicians of today argue whether the post office can properly count paper ballots that people mail we are building voting systems with state-of-the-art cryptography living on phones where you can vote. It's just a tap of a button and enjoy more security than we have ever imagined before. That is the future this movement, is enabling humanity money flowing at the speed of thought and the speed of thought making new money. How can you compete with that? You can't unless you bring people down with cynicism and disdain and ultimately what competing vision do they offer? That you all should be in chains? That we should just be wage slaves? We should just accept that every year our money deteriorates in value? That we should just accept that the rich will get richer the poor get poorer? Every now and then they throw us table scraps and when we get real angry they usurp the movements and then install their own leadership to basically take those movements from us as we've seen so many times before and we will see again. I'm sorry that's not a road I want to walk down and I'm willing to ride rocky waters, crazy markets, crazy people in unlimited FUD and trolling but I will never apologize for believing in the best in people and I will never apologize for believing that if only we give everyone around us the tools to save themselves and society that they can do it. They don't need great leaders and charisma. No one needs someone to tell them what to do. We all know what to do. We all know how to make the world a better place. We just have to be trusted enough to do it ourselves. You know what for the first time ever we did with bitcoin and then we did it again with ethereum and now we're doing it again with Cardano and we as a movement will continue to do it. I believe our best days are ahead of us and every day I wake up and there's more people marching with me in that respect and one day it'll be millions and one day it'll be billions and one day all those cynics will be gone, replaced with optimists, who once again believe that tomorrow is going to be better than today and that we're going to leave the world just a little bit better than the way we found it. So, every now and then on a tough day I like making a little message and letting you guys all know it's going to be better and you know what? it will be. Just have to have faith that it will be. So, hold the line, hold strong and have faith in each other and go do something, build something, start something. Got a lot of podcasts on the way, a lot of things coming down the pipe. For the dc-fund, a lot of opportunities to actually innovate. Multi assets are coming, soon Plutus is coming, soon guys are going to be able to build a lot. Start thinking today what's the business plan? What would you like to change, small or large. You don't complain about voting. Change voting. Your own organization, maybe you belong to a club, do a blockchain-based voting system. Maybe you have some political influence? Have a primary, democrat or republican, or your local primary or country for selecting candidates done with blockchain-based voting. Maybe you want to build a new financial product? Think about it, figure it out. There's so much there, it's all there, it's ready to go, it's for you to take and build and innovate with. Every day I wake up I try to make the platforms better. I try to push the technology a little further along. I try to hire great people and bring them into our industry. Cardano brought the Haskell industry into the cryptocurrency space. Cardano brought a lot of academics who had never thought about cryptocurrencies into the cryptocurrency space and we made our problems their problems and as a consequence they started solving them in ways we could have never done before. Most importantly Cardano brought a lot of you into the cryptocurrency space and you never thought you'd have this level of control and freedom over the fabric of society in the direction of the human race. Don't let that slip through your fingers. Figure out what you want to do with that super power. Might be small, might be big. I dreamed big, you can dream big too, even if you want to just dream small. Every person counts, every action counts up to the hill. Y'all matter to me and to each other and we're all in this together, never forget that! So, hard day, rough day, tomorrow will be a better one. The day after will even be better. See you guys soon, take care... Source: https://www.youtube.com/watch?v=qM192wAV4LA On Kimchi premium: https://www.investopedia.com/terms/k/kimchi-premium.asp EDIT: title typo -> rembeber -> remember :)
Eth 2.0 vs Polkadot and other musings by a fundamental investor
Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech. Can someone help me see the downsides of diversifying into DOTs? I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing? I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
What else am I missing?
The upsides. Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys? Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals. Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't. That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap. So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer. That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that. As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid. Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that. Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them. Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism. Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment. Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released. Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like. Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/ Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
Meter.ioaims to create a low volatile currency following 10 kwh electricity price. Meter uses a hybrid PoW/PoS solution; PoW mining for stable coin creation and PoS for txn ordering
MTR is stablecoin soft pegged around the global competitive price of 10 kwh electricity
MTRG is the finite supply governance token, which is used by PoS validators to validate transactions.
Pow mining in Meter is as open and decentralized as in Bitcoin but differs from that in Bitcoin in two fundamental ways
Block rewards are dynamic. It’s determined as a function of pow difficulty. The wining Meter miner will earn more MTR if hash rate is high and less MTR if hash rate is low, ensuring a stable cost of production for each MTR at 10 kWh electricity price using mainstream mining equipment
Miner’s don’t validate transactions. They simply compete to solve PoW. Txn ordering is done by PoS validators who secure the network and in return earn txn fees.
All stablecoins must essentialy have stability mechanisms to account for cases where demand is high and where demand is low. MTR has 2 stability mechanisms set to solve this mission. Supply side stability mechanism (long term) First and foremost MTR can’t be produced out of thin air. It’s issuance follows a disciplined monetary policy that solely depends on profit seeking behavior of miners. The only way to issue MTR is via PoW mining. When miners notice that price of MTR is getting higher than the cost to produce them (remember cost of production is always fixed at 10 kwh elec. price = around 0.9-1.2 usd) they will turn on their equipment and start creating new supply. If demand keeps increasing more miners will join, and more MTR will be printed to keep up with demand. Eventually supply will outperfrom the demand and price will get back to equilibrium. When demand is low and MTR price is dropping below 10 kwh elec. price miners will not risk their profit margin to shrink and switch to mine other coins instead of MTR. In return MTR production will stop and no additional MTR will enter circulation. Given that mining is a competitive, open enviroment, price of MTR will eventually equal to the cost to produce it. (Marginal Revenue = Marginal Cost). The long term stability is achieved through this unique and simple mechanism at layer 1 which doesn’t require use of capital inefficient collateral, complicated oracles, seignorage shares or algorithmic rebasing mechanisms. Relative to nation based fiat currencies, switching cost between crytocurrencies is significantly lower. Sudden demand changes in crypto is therefore very common and must be addressed. Huge drop in demand may temporarly cause MTR to get traded below it’s cost of production making pow mining a losing game. How can the system recover from that and restart production? On the contrary, a sudden increase in demand may cause MTR to get traded at a premium making mining temporarly very profitable. Meter has a second layer stability mechanism in order to absorb sudden demand changes. Demand side stability mechanism (short term) An on chain auction (will become live in October 2020) resets every 24 hours offering newly minted fixed number of MTRGs in exchange for bids in MTR. Participants bid at no specific price and at the end of auction recieve MTRG proportional to their percentage of total bid. The main purpose of this auction is to consume MTR. A portion of MTR (initally %60) that is bidded in the auction ends up going to a reserve that is collectively owned by MTRG holders, essentially getting out of circulation. Future use of MTR in Reserve can be decided by governance. The remaining %40 gets gradually distributed to PoS validators as block rewards. This reserve allocation ratio can be adjusted via governance depending on the amount of MTR needed to be removed out of circulation at any point in time. Meter team working to make Meter compatible with other blockchain. In fact both MTR and MTRG can currently be 1:1 bridged to their Ethereum versions as eMTR and eMTRG respectively. In near term, stablecoin MTR is set out on a mission to serve as collateral and a crypto native unit of account for DeFi.
The effects of the web by a number of companies have seduced a large number of users as these companies keep their data to prevent them from searching for alternatives. Likewise, these huge platforms have attracted applications to build their highest ecosystems before either severing access or actively opposing their interests when the applications became so successful. As a result, these walled gardens have effectively hindered innovation and monopolized large sections of the web. After the emergence of blockchain technology and decentralized cryptocurrencies, the need for applications to support decentralization has emerged. Several blockchain-based companies, applications and platforms have appeared in decentralization. In this research report, we will explain the approach adopted by the NEAR decentralization platform in designing and implementing the basic technology for its system. Near is a basic platform for cloud computing and decentralized storage managed by the community, designed to enable the open web for the future. On this web, everything can be created from new currencies to new applications to new industries, opening the door to an entirely new future.
The richness of the web is increasing day by day with the combined efforts of millions of people who have benefited from “innovation without permission” as content and applications are created without asking anyone. this lack of freedom of data has led to an environment hostile to the interests of its participants. And as we explained in the summary previously, web hosting companies have hindered innovation and greatly monopolized the web. In the future, we can fix this by using new technologies to re-enable the permissionless innovation of the past in a way, which creates a more open web where users are free and applications are supportive rather than adversarial to their interests. Decentralization emerged after the global financial crisis in 2008, which created fundamental problems of confidence in the heavily indebted banking system. Then the decentralized financial sector based on Blockchain technology has emerged since 2009. Decentralized Blockchain technology has made it easy for decentralized digital currencies like Bitcoin to exchange billions of dollars in peer-to-peer transfers for a fraction of the price of a traditional banking system. This technology allows participants in the over $ 50 billion virtual goods economy to track, own and trade in these commodities without permission. It allows real-world goods to cross into the digital domain, with verified ownership and tracking just like that of the digital. By default, the Internet where freedom of data enables innovation will lead to the development of a new form of software development. On this web, developers can quickly create applications from open state components and boost their efforts by using new business models that are enabled from within the program itself rather than relying on parasitic relationships with their users. This not only accelerates the creation of applications that have a more honest and cooperative relationship with its users, but also allows the emergence of completely new business built on them. To enable these new applications and the open web, it needs the appropriate infrastructure. The new web platform cannot be controlled by a single entity and its use is not limited due to insufficient scalability. It should be decentralized in design like the web itself and supported by a community of distributors widely so that the value they store cannot be monitored, modified or removed without permission from the users who store this value on their behalf. A new decentralization technology (Blockchain), which has facilitated decentralized digital currencies like Bitcoin, has made billions of dollars in peer-to-peer transfers at a fraction of the price of the traditional banking system. This technology allows participants in the $ 50 billion + virtual goods economy to track, own and trade in these goods without permission. It allows real-world goods to cross into the digital domain, with verified ownership and tracking just like that of the digital. Although the cost of storing data or performing a calculation on the Ethereum blockchain is thousands and millions of times higher than the cost of performing the same functionality on Amazon Web Services. A developer can always create a “central” app or even a central currency for a fraction of the cost of doing the same on a decentralized platform because a decentralized platform, by definition, will have many iterations in its operations and storage. Bitcoin can be thought of as the first, very basic, version of this global community-run cloud, though it is primarily used only to store and move the Bitcoin digital currency. Ethereum is the second and slightly more sophisticated version, which expanded the basic principles of Bitcoin to create a more general computing and storage platform, though it is a raw technology, which hasn’t achieved meaningful mainstream adoption.
1.1 WHY IS IT IMPORTANT TO PAY THE EXTRA COST TO SUPPORT DECENTRALIZATION?
Because some elements of value, for example bits representing digital currency ownership, personal identity, or asset notes, are very sensitive. While in the central system, the following players can change the value of any credits they come into direct contact with:
The developer who controls the release or update of the application’s code
The platform where the data is stored
The servers which run the application’s code
Even if none of these players intend to operate with bad faith, the actions of governments, police forces and hackers can easily turn their hands against their users and censor, modify or steal the balances they are supposed to protect. A typical user will trust a typical centralized application, despite its potential vulnerabilities, with everyday data and computation. Typically, only banks and governments are trusted sufficiently to maintain custody of the most sensitive information — balances of wealth and identity. But these entities are also subject to the very human forces of hubris, corruption and theft. Especially after the 2008 global financial crisis, which demonstrated the fundamental problems of confidence in a highly indebted banking system. And governments around the world apply significant capital controls to citizens during times of crisis. After these examples, it has become a truism that hackers now own most or all of your sensitive data. These decentralized applications operate on a more complex infrastructure than today’s web but they have access to an instantaneous and global pool of currency, value and information that today’s web, where data is stored in the silos of individual corporations, cannot provide.
1.2 THE CHALLENGES OF CREATING A DECENTRALIZED CLOUD
A community-run system like this has very different challenges from centralized “cloud” infrastructure, which is running by a single entity or group of known entities. For example:
It must be both inclusive to anyone and secure from manipulation or capture.
Participants must be fairly compensated for their work while avoiding creating incentives for negligent or malicious behavior.
It must be both game theoretically secure so good actors find the right equilibrium and resistant to manipulation so bad actors are actively prevented from negatively affecting the system.
NEAR is a global community-run computing and storage cloud which is organized to be permissionless and which is economically incentivized to create a strong and decentralized data layer for the new web. Essentially, it is a platform for running applications which have access to a shared — and secure — pool of money, identity and data which is owned by their users. More technically, it combines the features of partition-resistant networking, serverless compute and distributed storage into a new kind of platform. NEAR is a community-managed, decentralized cloud storage and computing platform, designed to enable the open web in the future. It uses the same core technology for Bitcoin and Blockchain. On this web, everything can be created from new currencies to new applications to new industries, opening the door to an entirely new future. NEAR is a decentralized community-run cloud computing and storage platform, which is designed to enable the open web of the future. On this web, everything from new currencies to new applications to new industries can be created, opening the door to a brand new future. NEAR is a scalable computing and storage platform with the potential to change how systems are designed, how applications are built and how the web itself works. It is a complex technology allow developers and entrepreneurs to easily and sustainably build applications which reap the benefits of decentralization and participate in the Open Web while minimizing the associated costs for end users. NEAR creates the only community-managed cloud that is strong enough to power the future of the open web, as NEAR is designed from the ground up to deliver intuitive experiences to end users, expand capacity across millions of devices, and provide developers with new and sustainable business models for their applications. The NEAR Platform uses a token — also called “NEAR”. This token allows the users of these cloud resources, regardless of where they are in the world, to fairly compensate the providers of the services and to ensure that these participants operate in good faith.
2.1 WHY NEAR?
Through focus, we find that Platforms based on blockchain technologies like Bitcoin and Ethereum have made great progress and enriched the world with thousands of innovative applications spanning from games to decentralized financing. However, these original networks and none of the networks that followed were not able to bridge the gap towards mainstream adoption of the applications created above them and do not provide this type of standard that fully supports the web. This is a result of two key factors:
System design is relevant because the technical architecture of other platforms creates substantial problems with both usability and scalability which have made adoption nearly impossible by any but the most technical innovators. End-users experience 97–99% dropoff rates when using applications and developers find the process of creating and maintaining their applications endlessly frustrating. Fixing these problems requires substantial and complex changes to current protocol architectures, something which existing organizations haven’t proven capable of implementing. Instead, they create multi-year backlogs of specification design and implementation, which result in their technology falling further and further behind. NEAR’s platform and organization are architected specifically to solve the above-mentioned problems. The technical design is fanatically focused on creating the world’s most usable and scalable decentralized platform so global-scale applications can achieve real adoption. The organization and governance structure are designed to rapidly ship and continuously evolve the protocol so it will never become obsolete.
2.1.1 Features, which address these problems:
1. USABILITY FIRST The most important problem that needs to be addressed is how to allow developers to create useful applications that users can use easily and that will capture the sustainable value of these developers. 2. End-User Usability Developers will only build applications, which their end users can actually use. NEAR’s “progressive security” model allows developers to create experiences for their users which more closely resemble familiar web experiences by delaying onboarding, removing the need for user to learn “blockchain” concepts and limiting the number of permission-asking interactions the user must have to use the application. 1. Simple Onboarding: NEAR allows developers to take actions on behalf of their users, which allows them to onboard users without requiring these users to provide a wallet or interact with tokens immediately upon reaching an application. Because accounts keep track of application-specific keys, user accounts can also be used for the kind of “Single Sign On” (SSO) functionality that users are familiar with from the traditional web (eg “Login with Facebook/Google/Github/etc”). 2. Easy Subscriptions: Contract-based accounts allow for easy creation of subscriptions and custom permissioning for particular applications. 3. Familiar Usage Styles: The NEAR economic model allows developers to pay for usage on behalf of their users in order to hide the costs of infrastructure in a way that is in line with familiar web usage paradigms. 4. Predictable Pricing: NEAR prices transactions on the platform in simple terms, which allow end-users to experience predictable pricing and less cognitive load when using the platform.
2.1.2 Design principles and development NEAR’s platform
1. Usability: Applications deployed to the platform should be seamless to use for end users and seamless to create for developers. Wherever possible, the underlying technology itself should fade to the background or be hidden completely from end users. Wherever possible, developers should use familiar languages and patterns during the development process. Basic applications should be intuitive and simple to create while applications that are more robust should still be secure. 2. Scalability: The platform should scale with no upper limit as long as there is economic justification for doing so in order to support enterprise-grade, globally used applications. 3. Sustainable Decentralization: The platform should encourage significant decentralization in both the short term and the long term in order to properly secure the value it hosts. The platform — and community — should be widely and permissionlessly inclusive and actively encourage decentralization and participation. To maintain sustainability, both technological and community governance mechanisms should allow for practical iteration while avoiding capture by any single parties in the end. 4. Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose. Optimize for simplicity, pragmatism and ease of understanding above theoretical perfection.
2.2 HOW NEAR WORKS?
NEAR’s platform provides a community-operated cloud infrastructure for deploying and running decentralized applications. It combines the features of a decentralized database with others of a serverless compute platform. The token, which allows this platform to run also, enables applications built on top of it to interact with each other in new ways. Together, these features allow developers to create censorship resistant back-ends for applications that deal with high stakes data like money, identity, assets, and open-state components, which interact seamlessly with each other. These application back-ends and components are called “smart contracts,” though we will often refer to these all as simply “applications” here. The infrastructure, which makes up this cloud, is created from a potentially infinite number of “nodes” run by individuals around the world who offer portions of their CPU and hard drive space — whether on their laptops or more professionally deployed servers. Developers write smart contracts and deploy them to this cloud as if they were deploying to a single server, which is a process that feels very similar to how applications are deployed to existing centralized clouds. Once the developer has deployed an application, called a “smart contract”, and marked it unchangeable (“immutable”), the application will now run for as long as at least a handful of members of the NEAR community continue to exist. When end users interact with that deployed application, they will generally do so through a familiar web or mobile interface just like any one of a million apps today. In the central cloud hosted by some companies today like: Amazon or Google, developers pay for their apps every month based on the amount of usage needed, for example based on the number of requests created by users visiting their webpages. The NEAR platform similarly requires that either users or developers provide compensation for their usage to the community operators of this infrastructure. Like today’s cloud infrastructure, NEAR prices usage based on easy to understand metrics that aren’t heavily influenced by factors like system congestion. Such factors make it very complicated for developers on alternative blockchain-based systems today. In the centralized cloud, the controlling corporation makes decisions unilaterally. NEAR community-run cloud is decentralized so updates must ultimately be accepted by a sufficient quorum of the network participants. Updates about its future are generated from the community and subject to an inclusive governance process, which balances efficiency and security. In order to ensure that the operators of nodes — who are anonymous and potentially even malicious — run the code with good behavior, they participate in a staking process called “Proof of Stake”. In this process, they willingly put a portion of value at risk as a sort of deposit, which they will forfeit if it is proven that they have operated improperly.
2.2.1 Elements of the NEAR’s Platform
The NEAR platform is made up of many separate elements. Some of these are native to the platform itself while others are used in conjunction with or on top of it. 1. THE NEAR TOKEN NEAR token is the fundamental native asset of the NEAR ecosystem and its functionality is enabled for all accounts. Each token is a unique digital asset similar to Ether, which can be used to: a) Pay the system for processing transactions and storing data. b) Run a validating node as part of the network by participating in the staking process. c) Help determine how network resources are allocated and where its future technical direction will go by participating in governance processes. The NEAR token enables the economic coordination of all participants who operate the network plus it enables new behaviors among the applications which are built on top of that network. 2. OTHER DIGITAL ASSETS The platform is designed to easily store unique digital assets, which may include, but aren’t limited to:
Other Tokens: Tokens bridged from other chains (“wrapped”) or created atop the NEAR Platform can be easily stored and moved using the underlying platform. This allows many kinds of tokens to be used atop the platform to pay for goods and services. “Stablecoins,” specific kinds of token which are designed to match the price of another asset (like the US Dollar), are particularly useful for transacting on the network in this way.
Unique Digital Assets: Similar to tokens, digital assets (sometimes called “Non Fungible Tokens” (NFTs) ranging from in-game collectibles to representations of real-world asset ownership can be stored and moved using the platform.
3. THE NEAR PLATFORM The core platform, which is made up of the cloud of community-operated nodes, is the most basic piece of infrastructure provided. Developers can permissionlessly deploy smart contracts to this cloud and users can permissionlessly use the applications they power. Applications, which could range from consumer-facing games to digital currencies, can store their state (data) securely on the platform. This is conceptually similar to the Ethereum platform. Operations that require an account, network use, or storage at the top of the platform require payment to the platform in the form of transaction fees that the platform then distributes to its community from the authentication contract. These operations could include creating new accounts, publishing new contracts, implementing code by contract and storing or modifying data by contract. As long as the rules of the protocol are followed, any independent developer can write software, which interfaces with it (for example, by submitting transactions, creating accounts or even running a new node client) without asking for anyone’s permission first. 4. THE NEAR DEVELOPMENT SUITE Set of tools and reference implementations created to facilitate its use by those developers and end users who prefer them. These tools include:
NEAR SDKs: NEAR platform supports (Rust and AssemblyScript) languages to write smart contracts. To provide a great experience for developers, NEAR has a full SDK, which includes standard data structures, examples and testing tools for these two languages.
Gitpod for NEAR: NEAR uses existing technology Gitpod to create zero time onboarding experience for developers. Gitpod provides an online “Integrated Development Environment” (IDE), which NEAR customized to allow developers to easily write, test and deploy smart contracts from a web browser.
NEAR Wallet: A wallet is a basic place for developers and end users to store the assets they need to use the network. NEAR Wallet is a reference implementation that is intended to work seamlessly with the progressive security model that lets application developers design more effective user experiences. It will eventually include built-in functionality to easily enable participation by holders in staking and governance processes on the network.
NEAR Explorer: To aid with both debugging of contracts and the understanding of network performance, Explorer presents information from the blockchain in an easily digestible web-based format.
NEAR Command Line Tools: The NEAR team provides a set of straightforward command line tools to allow developers to easily create, test and deploy applications from their local environments.
All of these tools are being created in an open-source manner so they can be modified or deployed by anyone.
Primarily economic forces drive the ecosystem, which makes up the NEAR platform. This economy creates the incentives, which allow participants permissionlessly organize to drive the platform’s key functions while creating strong disincentives for undesirable, irresponsible or malicious behavior. In order for the platform to be effective, these incentives need to exist both in the short term and in the long term. The NEAR platform is a market among participants interested in two aspects:
On the supply side, certification contract operators and other core infrastructure must be motivated to provide these services that make up the community cloud.
On the demand side, platform developers and end-users who pay for their use need to be able to do so in a simple, clear and consistent way that helps them.
Further, economic forces can also be applied to support the ecosystem as a whole. They can be used at a micro level to create new business models by directly compensating the developers who create its most useful applications. They can also be used at a macro level by coordinating the efforts of a broader set of ecosystem participants who participate in everything from education to governance.
3.1 NEAR ECONOMY DESIGN PRINCIPLES
NEAR’s overall system design principles are used to inform its economic design according to the following interpretations: 1. Usability: End users and developers should have predictable and consistent pricing for their usage of the network. Users should never lose data forever. 2. Scalability: The platform should scale at economically justified thresholds. 3. Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose. 4. Sustainable Decentralization: The barrier for participation in the platform as a validating node should be set as low as possible in order to bring a wide range of participants. Over time, their participation should not drive wealth and control into the hands of a small number. Individual transactions made far in the future must be at least as secure as those made today in order to safeguard the value they modify.
3.2 ECONOMIC OVERVIEW
The NEAR economy is optimized to provide developers and end users with the easiest possible experience while still providing proper incentives for network security and ecosystem development. Summary of the key ideas that drive the system:
Thresholded Proof of Stake: Validating node operators provide scarce and valuable compute resources to the network. In order to ensure that the computations they run are correct, they are required to “stake” NEAR tokens, which guarantee their results. If these results are found to be inaccurate, the staker loses their tokens. This is a fundamental mechanism for securing the network. The threshold for participating in the system is set algorithmically at the lowest level possible to allow for the broadest possible participation of validating nodes in a given “epoch” period (½ of a day).
Epoch Rewards: Node operators are paid for their service a fixed percentage of total supply as a “security” fee of roughly 4.5% annualized. This rate targets sufficient participation levels among stakers in order to secure the network while balancing with other usage of NEAR token in the ecosystem.
Protocol treasury: In addition to validators, protocol treasury received a 0.5% of total supply annually to continuously re-invest into ecosystem development.
Transaction Costs: Usage of the network consumes two separate kinds of resources — instantaneous and long term. Instantaneous costs are generated by every transaction because each transaction requires the usage of both the network itself and some of its computation resources. These are priced together as a mostly-predictable cost per transaction, which is paid in NEAR tokens.
Storage Costs: Storage is a long term cost because storing data represents an ongoing burden to the nodes of the network. Storage costs are covered by maintaining minimum balance of NEAR tokens on the account or contract. This provides indirect mechanism of payment via inflation to validators for maintaining contract and account state on their nodes.
Inflation: Inflation is determined as combination of payouts to validators and protocol treasury minus the collected transaction fees and few other NEAR burning mechanics (like name auction). Overall the maximum inflation is 5%, which can go down over time as network gets more usage and more transactions fees are burned. It’s possible that inflation becomes negative (total supply decreases) if there is enough fees burned.
Scaling Thresholds: In a network, which scales its capacity relative to the amount of usage it receives, the thresholds, which drive the network to bring on additional capacity are economic in nature.
Security Thresholds: Some thresholds, which provide for good behavior among participants are set using economic incentives. For example, “Fishermen” (described separately).
Best Potential Moonshot Hands Down; TRUSTSWAP (SWAP) Full DeFi Suite, Simple P2P Trustless Escrow, and Great Tokenomics!
Trustswap https://www.coingecko.com/en/coins/trustswap Okay guys I've spent the last two days learning about this token and I've come away very impressed. I think this token may be a serious contender for best performer this year. On the TrustSwap social platforms it feels like 2017. Here's some info about the company. TrustSwap is a DeFi project created by the founder and CEO of Uptrennd Jeff Kirdeikis. Most notably he has the largest cryptocurrency investing group on Facebook, and he is what Tom was to MySpace but for Uptrennd. He host The Bitcoin and Crypto Podcast which is actually very good, and he has a massive following on Twitteother social. Better yet, this guy is a marketing genius like a less annoying Justin Sun. He has a pipeline of good news lined up and knows when and how to release that information on the masses. Everything he does seems meticulously thought through. He continually affirms his commitment to get SWAP listed on high volume exchanges with MXC yesterday, Hotbit today, and Houbi/Bitmax tomorrow he is actually succeeding. He is also very responsive and has team moderators standing by in the social media channels to field questions/vanquish FUD. Here are the basics: TrustSwap is building a DeFi ecosystem that will start out as a simple P2P trustless escrow and payment platform and evolve into a fully decentralized exchange (DEX) with leverage and futures options all offered via non-custodial smart contracts. They will also offer multi-chain token wrapping as a service and on-chain governance using the native ERC-20 token SWAP. Imagine being able to wrap BTC, Monero, Digibyte, or any crypto and then trade it on uniswap, or have it interact with Ethereum compatible wallets, and applications. Through this, you can move funds cross-chain without ever having to sign up to a Centralized Exchange, allowing you to never have to KYC, staying fully anonymous across exchanges. Wrapping tokens also offers huge benefits to new blockchain projects that have their own chain, allowing them to save massively on listing fees, as well as instantly be connected to strong wallets and decentralized exchanges. This puts the ability to trust back in the investor's hands and might spark a new ICO boom as new projects eager to establish credibility rush to use it. So yes beautiful wrapping everything layer 3 solution my brothren. And highly incentivised holding economics, for example rewarding users from fees collected from the DeFi network! And staking; All fees paid to the platform will get split as follows: 80% goes back to holders as staking rewards 10% are burned forever (adding that value back to token holders) 10% goes to the dev fund which can be used as the community sees fit This project has massive potential and is already building a strong community foundation with big moves coming soon as more exchanges and markets come on board. The staking and deflationary tokenomics make this a long term HODL for me. Token Metrics: Total Supply: 100,000,000 SWAP Circulating Supply: 62,500,000 SWAP Market Cap: $3.6 million 60,000,000 SWAP Initial liquidity offering on uniswap about two and half days ago, price dropped at like $0.035. Volume bottomed out and rising again (same with holder count). 20,000,000 Team Supply 20,000,000 Marketing, development, legal, bounties, OTC investors, airdrops. LINKS: Website: www.Trustswap.org Discord: https://discord.gg/GNUrcK Telegram: t.me/TrustSwap Token address; https://etherscan.io/token/0xcc4304a31d09258b0029ea7fe63d032f52e44efe Uniswap; https://app.uniswap.org/#/swap?inputCurrency=0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2&outputCurrency=0xcc4304a31d09258b0029ea7fe63d032f52e44efe Extra nugget from Jeff on Discord; "@everyone SwapLogo SWAP is listing on Hotbit this Monday! SwapLogo https://hotbit.zendesk.com/hc/en-us/articles/360051689713 This is the first step into TrustSwap's emergence in the Asian markets. We are going to be kicking off major marketing campaigns with an Asian marketing firm within the coming week to follow up this listing. We also have a couple more Top-50 listings lined up for this week as well When we had a vote to see which exchange you wanted to see SWAP listed on, Huobi was the winner by a massive margin, so we will be opening up the conversation with Huobi to get SWAP listed on there also in the near future." DYOR!! Godspeed! I'll see you guys on the other side! To address FUD about OTC investors dumping, yes they are dumping, it's my belief most weak hands have exited the market, they got in at $0.005 per SWAP.
IPFS— The New-gen Tech Revolution, or Another Illusion?
Founded in 2014, after 6 years of R & D as well as its expansion, and after nearly a year of extensive testing and preparation, IPFS (Interplanetary File System) was officially launched on the afternoon of October 15, 2020, UTC time. 12 hours after the mainnet went online, Its token price fluctuated between 50~70 USD/FIL. However, panic and pessimism began to spread between the IPFS community and FIL token holders. Based on the total amount of FIL (2 billion) and the unit price of 50 US dollars estimation, its market value has exceeded 100 billion US dollars, second only to BTC. As such a mega valued IPFS/FIL went online, if there is no enough application to support, the selling pressure after the FIL is gradually unlocked will become huge. According to calculations, on the first day of the mainnet launch, there will be 239,000 FILs to be sold. Assuming that the unit price is 30 USD, the released circulation will be 8 million USD. Assuming the unit price remains unchanged, the market will usher in a similar value on the 10th day. With a release amount of 15 million USD, it is very likely that the corresponding token price can be supported. IPFS is a network transmission protocol designed to create persistent and distributed storage and sharing of files. In terms of its current active projects and companies, IPFS has added more than 5 billion files, involving multiple industries, and there are also many blockchain companies using this technology. When the IPFS mainnet and its Filecoin goes online, the market value will be based on the applications brought by the IPFS network. After Bitcoin and Ethereum, Filecoin is an upstart in the blockchain industry with a revolutionary technological breakthrough. The market predicts that Filecoin’s market value will surpass Bitcoin. Now let us analyze this project together that was given high hopes: IPFS major features and disadvantages The basic application of IPFS, Filecoin’s financial attributes and its incentive mechanism make it a very exciting global collaborative open source project. On this basis, the data of all mankind is stored in the IPFS network, and no one can tamper with it. This magnificent scene provides at least three values for us:
It creates a storage network service that is license-free and trust-free. This is very important. When you want to access a digital file, you don’t need to get approval or filing from any organization, and strict certification. As for non-centralized trust, it does not require user to trust the supplier that provides storage services, which significantly reduces the cost.
The successful application of IPFS will most likely enable all idle storage resources in the world to be gathered to form a network and be effectively used, and such a network is unprecedented.
Through such a model, network redundancy can be effectively reduced, and the complete separation of data can be achieved. There is no need to store files in a fixed location, only the content needs to be stored in an IPFS and Filecoin network.
However, Plentiful in ideal yet bony in reality. The design flaws of the IPFS project make it difficult to truly apply in the practical environment. Its design flaws mainly focus in the following aspects:
Cannot support hot data storage.
Based on the principle of data timeliness, the higher the frequency of data access, the greater the value of the data possess. At present, IPFS only supports cold data storage scenarios. The lack of support for network transmission makes it impossible to establish a transmission network for hot data, which means the lack of the most valuable support for the network.
The disaster tolerance mechanism is missing.
Disaster tolerance means that when an IT system stops working due to an accident (such as fire, earthquake, etc.), the entire application system can be switched to another location so that the system functions can continue to work normally. IPFS / Filecoin does not provide reliable disaster recovery and recovery mechanisms for storage users. Storage miners arecentrally handling disaster recovery backup and recovery works, resulting in an increase in storage space redundancy by 2–3 times.
The storage performance is reduced by more than 60 times.
The IPFS data verification mechanism is too ideal and complex, and its storage performance is more than 60 times lower than that of a traditional centralized storage system. 1TB files usually need to be verified for more than 10 hours and cannot be stored normally and efficiently.
Centralized technology architecture.
IPFS requires pretty advanced hardware, which leads to a very high threshold for joining its storage network. At present, only specialized storage devices can join the IPFS network as storage nodes. This means that IPFS initially advertised to users that connecting ordinary idle storage and reducing storage costs, has become a flubdub. It is difficult to store the entire network in a centralized structure in a disguised form, which cannot greatly reduce the storage cost of the entire network and ensure the security of the entire network.
Due to the lack of the decentralized governance mechanism, its governance is too despotic, leading to a certain harm to the participated communities.
The above are the main obstacles currently hindering IPFS and Filecoin. The good news is that some of them can be improved and perfected, while some are design mechanism problems and cannot be fixed. Let’s take a look at another project initiated in the tech circle in 2017 — -HOP: What is HOP The HOP protocol provides a decentralized and completely anonymous traffic service for people all over the world based on block chain. HOP combines P2P network transmission and block chain technology to establish a block chain micro-payment protocol based on the block chain transmission encryption protocol between P2P network bandwidth contributors and bandwidth users, and merge it into traffic mining. In the mining pool side, the whole protocol is built on the main network, which has Micro Payment and mining functions. In addition, HOP also supports traffic mining of ERC20 in any currency. So far, HOP is the only protocol that combines the above functions and is officially available in commercial application. It can provide terminal nodes for secure access to decentralized networks. HOP features and comparison with IPFS HOP and IPFS have certain similarities. The following table is a comparison of the two projects in terms of technology and application characteristics: https://preview.redd.it/d4klovzngmt51.png?width=1178&format=png&auto=webp&s=f14f0b2290430f6861f6da27f2d1e47ed196b741 Why HOP might be a phenomenal project in the future Compared with the disadvantages of IPFS which are not supporting for hot data storage, low storage efficiency, low disaster tolerance and the high threshold of providing storage capacity, The advantages of HOP are summarized as follows:
High operating efficiency.
The smart micro-payment system runs payments with unlimited TPS, and the efficiency is 90% higher than Ethereum.
High level of open source. Supports all ERC-20 token access.
Low threshold of participation.
Any participant who has a certain fundamental knowledge of computer science and network technology can set up mining pools and miners.
It can be combined with Starlink satellites, repeaters, sim/esim cards and mobile phones in actual application scenarios to form a next-generation distributed interconnected communication network globally. At present, most of the participants of HOP are top tier tech specialists, famous investors and politicians with global vision. We believe that projects like HOP, due to the open source and far-sighted technical foundation, which can not only achieve internal self-consistent circulation, but also integrate well with external ecology. Just as water conservancy is invisible, HOP has unlimited inclusiveness and scalability, and has a strong platform-level vitality! We are looking forward to the accumulation of HOP, bringing a revolution in technology and applications to the blockchain and the practical universe!
From 10000 to 10 Million: Coin Circle KOL Happy Shares the Road of Gold Mining in China
On July 27,2020, Bitcoin soared from US $9900 to US $11400, a 15% increase in a single day, opening the first round of global cryptocurrency market outbreak after the epidemic.Since then, different currencies have been soaring in turn every day.A few days ago, I attended a private gathering of cryptocurrency circle in Silicon Valley, and got to know a veteran of currency circle named XX.XX is a China expert and an early investor of TRX, OMG and EOS. It started from $10000 and now has a value of more than $10 million. It is called China bitbutcher in a small circle.The author and XX talked about a lot of dry goods, now sorted out to share with you, interested can add my telegraph group（https://0.plus/bpopaha）Discuss it together.The following is the account in XX’s own words. Firstly, you need to understand the market. Some people call me China Bitbutcher. In fact, there are many people who make more money than me in the Chinese market. Although the projects invested are different, they all have one thing in common, that is, they all have a better understanding of the Chinese market. At least you have to install a Wechat. You see, I have added many groups of Chinese investors to collect information and study their investment characteristics. For example, this expression pack is very representative. https://preview.redd.it/uk2kzcpt4ft51.png?width=554&format=png&auto=webp&s=c17307c5890e6ef072447a779c5e9b9e06b45173 "show-hand" here is the transliteration of show hand, which means that you can bet all your cash on a single coin. If you only bet on one coin, you will have either heaven or hell.Whenever a KOL starts to shout for orders, the retail investors in the community will rush to get into the gold and shout the slogan of "show-hand". The lucky ones who get into the gold earlier will get several times or even dozens of times (or higher) return on investment. Similar to the "Beat Generation" born after World War II in the United States, today's young people in China are called "post-90s" and "post-00s". Although they don't have to worry about food and drink, their limited income is far behind the increase in urban house prices and living costs. Houses and cars are the necessary conditions for young Chinese men to marry their wives.As a result, these young people tend to be very aggressive in investment, and there are many people eager to make tens of thousands of dollars with thousands of dollars.At present, there are millions of investors in China's currency circle, which is equivalent to the total population of some small European countries. Behind this, there are tens of millions of stock investors who will turn to coin circle people at any time. Since the popularity of ICO in 2017, China has produced dozens of hundreds or even thousands of times projects such as Neo, TRX, ONT, etc., and tens of billions of dollars of funds have been taken out and deposited from the pockets of investors in the currency circle. At the same time, there are also a large number of gold miners (most of them are foreigners) who have absorbed a lot of money from China through ICO and obtained wealth freedom. Among them, EOS is a typical example. The financing time is as long as one year, and the financing scale is more than 2 billion US dollars, of which a large part is paid by Chinese young people. There is also a well-known KOL in China, who has been crazy about EOS, even calling out the slogan of "three waves of fighting to 1000 yuan (Note: 1000 yuan is equivalent to 143 US dollars, currently EOS is worth 3 dollars). However, such a crazy KOL still has the support of hundreds of thousands of fans. Fortunately, with so many fanatics, the EOS I held in the early stage could be safely and gradually shipped, with a comprehensive yield of 553%. It's not too much to say that it's collecting money on the ground. So if you take the same money and gamble with the gentlemen on Wall Street, you'd better take the same money to China’s currency circle market. By the way, there was also a big man in the currency circle in China who said that these retail investors were "idiot", "stupid people, lots of money, come quickly". I didn't believe it. However, at the end of 2017, I heard from my Chinese friends that I invested in a project called TRX. I only invested $5000, and finally I withdrew 100 times. 5000 US dollars turned into 500000 US dollars. Since then, I have fallen in love with this magic market. Secondly, we should see the situation clearly. A leader of China's democratic revolution once said a sentence that I like very much, which is called "the general trend of the world, the one who goes along will prosper, and the one who goes against will die." So before you pay, ask yourself a question: do you think the bull market has opened? Or is the bull market in the middle? This needs your own judgment, conform to the general trend to make money. In my opinion, at the present stage, two thirds of 2020 has passed. In the past eight months, the global epidemic broke out, the economy went down, the US stock market failed, the Olympic Games were postponed, and Bitcoin plummeted to 3800usdt.Under this undercurrent, hot money is irresistible, especially the savings of Chinese currency circle investors in the long bear market, which urgently needs an investment export. On the surface, this bull market is led by Ethereum, but in fact it is the result of a combination of multiple factors. One of the key points is to invest in customers' wallets. With Bitcoin starting on July 21, the current high level of 12000 or so, most of the mainstream currencies in the market have completed the round of rise. Meanwhile, the defi plate is extremely hot, and the future market will continue to be bullish. Judging the situation is the basic logic of our investment. If this does not hold up, there is no need to look down. Thirdly, choose potential currencies. If you also agree that the bull market will continue, then you should take advantage of this wave of heat, ambush some hot currencies in advance, and then wait for the market makers to stir up the market and plate, attract a large number of retail investors to follow suit, so as to easily make money in the market. At present, it is obvious that the market has entered the second typical stage: bitcoin trading horizontally and counterfeit currency rising in turn. Almost every day comes the news that the counterfeit currency of XX is about to soar, and then investors who build their positions ahead of time are beaming with joy to show their income map in the major communities. Please note that! At this time, most of the unqualified investors are following the trend and buying without their own opinions. It is true that some people have made a lot of money, but the risks have multiplied. Because while they are making money, they are also carrying sedan chairs for the makers. But a small number of "smart people" don't think so. They firmly believe that the safest way is to make money within their scope. One of the important ideas is to explore the underrated high-quality projects that have not yet started to rise in the bull market, complete the warehouse building at the low level, and get the early hundred times chips. Fourth, how to find a hundred times currency. As we all know, 100 times coin has the following characteristics: it has a perfect business model and pass card model, has its own application and ecology, and has a group of loyal users and community consensus. This is the fundamental reason why I found TRX, OMG, ONT and other currencies. There is an outstanding businessman named Jack Ma in China. He put forward a concept called "small is beautiful", which means that the best investment target is a project with small scale and high marginal profit. Just in the past two days, I downloaded an investment advisory app called coin bubble through China's wechat group, and also sent a token. I think it is small and beautiful according to my own definition. https://preview.redd.it/qtl5bjku4ft51.png?width=415&format=png&auto=webp&s=6a04ceee255b4b76559e8c51407b49475969aba7 According to the official introduction, the coin bubble is a mobile terminal entrance for digital financial investors. It is committed to creating a rich, interesting and practical digital financial investment consultant ecosystem, helping new users of the digital financial investment circle to quickly integrate into the circle and culture, improve their investment skills and obtain better investment returns. The goal of currency bubble is to become the first stop for traditional financial investors to enter the digital financial world and the first entrance for incremental users and incremental funds. The concept is quite grand, but in a word, the team has made a consultant app for coin circle investment and built an active community of crypto asset enthusiasts. Through the mode of knowledge payment or commission, KOL at the head of the coin circle helps their fans to purchase crypto assets and derivatives with zero threshold, and obtain commission income from it. https://preview.redd.it/t84a637v4ft51.png?width=831&format=png&auto=webp&s=c9ada4fc9331ddcf7c199fe6c65afce16efb0361 Different from some projects on the market that often claim to be hundreds of thousands of users and start to issue money in the air stage, the money bubble has been done as a traditional Internet project from the beginning. The team itself is not short of money, and has not raised a lot of money in the initial stage. Instead, it only focuses on the perspective of resource exchange from the perspective of Genesis fund, alpha-coin fund and Continue Capital and other cryptocurrency capital parties symbolically took some start-up funds in order to better utilize the latter's extensive network resources in the currency circle. According to a friend who has a good relationship with the core team, the management of the currency bubble is extremely low-key, and rarely appears in front of the currency circle media. The team has always believed in the principle of product first, and has little interest in marketing. Just as soon as the app 1.0 version was launched, it caused a widespread sensation in the currency circle, and even was immediately plagiarized at pixel level by another well-known giant app two weeks later. But the team just said in the internal meeting, copy it, see whether you copy fast or we innovate fast. As a result, when app2.0 was released, the coin recommendation function was once again popular, absorbing countless powder, and it was still copied by several friends. However, this kind of plagiarism can not last for a long time, because the money bubble depends not only on the function innovation, but also on the community reputation. The Internet has such Matthew effect, and the head app is always strong. At present, the coin bubble has initially established a product matrix of currency recommendation, spot strategy, contract strategy and communication community. Investors, KOL, exchanges and project parties in the currency circle can take what they need and get the resources they want. At present, money bubble has been the first place in the investment advisory track by relying on natural flow and word-of-mouth propaganda. Many of the original friends who only relied on plagiarism have disappeared. At present, there are about 3000 KOLs with different levels in the currency bubble, which continuously release spot currency, contract strategy and potential currency on app. Online, hundreds of thousands of users can easily find KOL with high success rate and stable yield through the currency bubble platform to carry out documentary operation to obtain profits. Offline, the coin bubble has dozens of official wechat groups and hundreds of alliance groups, radiating millions of users in the currency circle. Currency bubble has become the first professional community in China's domestic currency circle. https://preview.redd.it/kd9zw40w4ft51.png?width=165&format=png&auto=webp&s=bf347befb1633b9475afcd0cba5d71fdfcd9c252 Currency recommendation plate spot plate contract plate https://preview.redd.it/gcj6ztuw4ft51.png?width=183&format=png&auto=webp&s=52e670711d2256131cd630e5e6e3c360205aabd8 Money bubble online community currency bubble wechat community In order to better integrate and match the resources in the ecosystem, coin bubble launched token BPOP with the same name in a low-key manner in 19 years, but it has not been vigorously promoted. This is also in line with the team's low-key temperament of not lacking money, not promoting and only making products with heart. According to internal information, BPOP token will be used for the following purposes: First, you can use BPOP to subscribe to KOL's trading strategy. Previously, in order to comply in China, BPOP has been using French currency to settle Commission. However, the team may have considered the subsequent global promotion, and it is time to introduce ecological token for internal settlement. The good news is that the English version of coin bubble was launched in early September, which will better serve the global English speaking users in North America and Europe. At the same time, the project side also said that it would launch multi language versions such as Japanese version, Korean version and Latin version as soon as possible, so as to provide accurate investment advisory services for users in more regions of the world. Secondly, BPOP can be used to offset the service charge of the platform.This seems to be consistent with the strategy of the traditional exchange and the traditional investment consulting company, but in fact, the Commission is charged only when the strategy is profitable. This is totally different from the traditional one. It is a killing strategy created from the perspective of investors in the currency circle. As we know, the vast majority of the profits of exchanges and consulting companies come from the handling fees for ensuring the collection of goods during drought and flood, especially for futures contracts, which are extremely high. This small fee hides the ambition of the currency bubble to subvert the status quo of the industry. Now there is a popular word called dimension reduction strike. It is the Internet that kills physical stores, and takeaway is used to kill instant noodles. Is it possible that the person who kills the exchange is such a latecomer? Thirdly, BPOP can be used for position dividend. As mentioned above, the money bubble is set up according to the traditional Internet companies, and has its own stable source of income. Besides the platform Commission, a large part of it comes from the realization of traffic, that is, advertising revenue. Money bubble has served many star customers, such as OKEX, Bybit, MXC, famous project parties such as STPT, AKRO, DOS, ARPA, etc., and has reached hundreds of customers. Relying on its own flow advantages, the coin bubble provides accurate diversion and product promotion services for customers, matches high-quality investors in the currency circle for high-quality project parties and exchanges, and achieves a win-win situation. The subsequent position is equivalent to holding currency bubble stock, which will continue to enjoy the income and dividend of currency bubble. According to informed sources, BPOP will develop new products in combination with the current defi hot spots, and BPOP will also be the only value medium in the product ecology of defi, which means that the higher the demand for products, the stronger the price support of BPOP. - BPSwap BPSwap is an asset exchange platform, which can be used for token exchange of any public chain agreement. In the initial stage of the product, BPOP will be used as the main exchange target, i.e. eth / BPOP, TRX / BPOP and other transaction pairs. In the later stage, transactions between different currencies and flash exchange functions will be gradually opened; When a general investor subscribes to KOL's portfolio with BPOP, he / she can use BPSwap for trading exchange, and can also obtain income by providing transaction liquidity, which can not only quickly buy "wealth password" but also obtain additional income by using "wealth password"; The main functions of BPSwap are as follows: 1）Provide various platform data. Such as liquidity pool data, convertible currency pairs, exchange currency pair liquidity and transaction volume data; Exchange mechanism of transaction currency. In the initial stage, erc-20 or trc-20 will be opened to exchange currency pairs for BPOP transactions. Any user can view KOL recommended currency on BPOP platform and conduct transaction exchange directly; 2）Liquidity pool reward and new liquidity token. Any user can provide liquidity for different trading currency pairs, increase or remove assets in the liquidity pool. At the same time, the platform will issue a new liquidity token bpop-lp to reward users who provide liquidity for trading currency pairs. Bpop-lp can be exchanged with BPOP / USDT / eth; 3）Flash cash function. Quick exchange of small assets. In a word, BPSwap can make the users of currency bubble realize all kinds of "one-step" needs, from buying currency, to checking and recommending currency, to asset transaction and exchange, etc., so as to realize the closed-loop use of digital currency. As the only value medium of BPSwap, BPOP will be used by more and more users with the maturity of products, and the price will rise. Finally, BPOP will also realize the interesting functions of internal users such as reward and props purchase, which may be related to the next blockbuster version. I don't know the details, so I won't make a wild guess. The above is basically from the product, operation and technical aspects of the project analysis, but these alone are not enough, when we choose the investment target, we also need to carefully analyze the token situation, in order to draw a more accurate conclusion.These analyses are boring, but they are often critical. The reason is exactly the same when we analyze other currencies according to the method I said. The reason why bitcoin has become the favorite of investors is that it can not be issued more shares and has the characteristics of unlimited deflation. Although BPOP cannot be dug out, its deflation is more fierce and fierce. I can easily find out that the current circulation of BPOP is extremely limited after a large number of lock ups and multiple destruction of BPOP by combining the announcement issued by the currency bubble and the data on the chain. The currency distribution of BPOP is shown in the figure. The orange part is the market circulation volume, accounting for 10%.The other blue parts are those in lock / destroyed / to be destroyed. Currency bubble contract address: 0x0452aed878805514e28fb5bd0b56bef92176e32a As can be seen from the figure, the total amount of BPOP is 1 billion. Among them, the foundation has actively destroyed 500 million, ecological destruction has reached 100 million, team lock up 200 million, private placement has not been issued and destroyed by 42.4 million. The remaining cornerstone investment is 100 million and the market is 57.6 million. At present, there is only 157.6 million circulation in the market. According to the official announcement, the government has been using the business profits to buy back from the secondary market. At present, the government has successively bought back about 60 million, and the real circulation in the market is only about 97 million tokens. In addition, the project side's goal is to continue to buy back to 147.6 million and then destroy all the tokens, and all the tokens will be deflated to 10 million. According to the current real circulation of 97 million, the current CBX.ONE Its latest trading price is 0.005usdt, and its circulation market value is about 485000u. Compared with its current user volume and business volume, it is in a seriously underestimated state, and there is a huge space for imagination in the future. At present, the price is at a historical low price, which conforms to all my definitions of small and beautiful. To sum up, BPOP meets all the characteristics of this bull market - The business model, application and ecology are complete, and a large number of landing products are used by users; - The market value of project token is small, but the project investment institutions are strong; - The project team has deep experience in the blockchain industry and is keen on doing practical things. - The direction of the project is in line with the hot spots of the current bull market. There is a well-known saying in China's retail circle, "hold on, the team is working." On the one hand, it means that the team only focuses on the products and does not care about the price performance of the secondary market; on the other hand, it means that the project team is really pushing the whole product forward and the price has strong support. However, as long as there are specific landing products and a large number of users use them, the currency price will naturally attract other hot money to come in and raise the price. After all, the secondary market is just a capital game, and the coin bubble project meets this condition. The products are developed in an orderly way, and the market value is still so small. It is very easy for BPOP to rise several times or dozens of times in this bull market. At present, BPOP passes can be found in the decentralized exchange uniswap (search BPOP or contract address: 0x0452aed878805514e28fb5bd0b56bef92176e32a) and the centralized exchange Dubai compliance exchange cbx.com Trading. Those who are interested can learn about it by themselves. Of course, before buying, you can also go to its official website（http://www.bpop.io）Download the app to experience it. By the way, I tried to recharge 1000 usdt, and now I have made more than 300 usdt. Of course, some secondary pages still have a lot of Chinese, which is a little difficult to watch. It is said that an optimized version of the English version will be released soon, and everyone can experience it at that time. Finally, I would like to remind you that although the money in China's currency circle is relatively easy to earn, it is also a high-risk investment variety. Before you enter this market, please be sure to follow the above-mentioned method to deeply understand the Chinese market and analyze the currency you like in detail. If you have any questions, please feel free to communicate with me.
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