Module | Business School | University of Exeter

US digital dollar coming soon? Chainlink, Swift, Federal Reserve, ISO20222, and The Clearing House serving as pieces of the puzzle.

This is my first Reddit thread, so please feel free to contribute your thoughts.
I believe the US digital dollar will be making its debut very soon, which could very well likely be the next One World Currency. I've included a timeline of public releases/announcements that fall in line with my theory. Bear with me, there are lot of moving parts.... There may be some details or insights missing so please feel free to enlighten. I believe this will, in time, lead to a New World Order with one global currency. I would like to be proven wrong.
First things first, there are 3 big players: The Federal Reserve, The Clearing House, and SWIFT with ISO20222 system.
Who is The Clearing House group? Conglomerate of many LARGE banks. Source: https://www.theclearinghouse.org/about/owner-banks
What is CHIPS? The Clearing House Interbank Payments System (CHIPS) is an electronic payments system that transfers funds and settles transactions in U.S. dollars. CHIPS enables banks to transfer and settle international payments more quickly by replacing official bank checks with electronic bookkeeping entries. As of January 2002, CHIPS had 59 members, including large U.S. banks and U.S. branches of foreign banks. Source: https://www.newyorkfed.org/aboutthefed/fedpoint/fed36.html
What is ISO20222? From Swift itself, "ISO 20022 is an emerging global and open standard for payments messaging. It creates a common language and model for payments data across the globe."Source: https://www.swift.com/standards/about-iso-20022
July 16 2018, Federal Reserve Proposes ISO 20022 Message Format for Fedwire Funds Service. 3-step Phase integration of CHIPS & Fedwire. Source: https://www.sullcrom.com/files/upload/SC-Publication-Federal-Reserve-Proposes-ISO-20022-Message-Format-for-Fedwire.pdf
Timeline of 3-step phase model infographic: https://imgur.com/XaNUcR3
July 19 2018, Assocation of Financial Professionals confirms above with article: NY Fed creates group to consider adopting ISO20222: "In 2012, the New York Fed formed a stakeholder group to assess the value in adopting ISO 20022. This led to the 2015 Strategies for Improving the Payment System paper, in which the Fed recommended that the U.S. develop a strategy for adopting the standard. Since that time, the Fed and The Clearing House (TCH) have worked together on plans to adopt ISO 20022 for Fedwire and CHIPS. While they have each opted to implement the standard separately, the Fed and TCH plan to align the implementation of the new format on Fedwire and CHIPS." Source: https://www.afponline.org/ideas-inspiration/topics/articles/Details/fed-seeks-comment-on-iso-20022-fedwire-proposal
Nov 20 2019, The Federal Reserve is looking into developing a digital currency in the US, Powell confirms. Source: https://markets.businessinsider.com/news/stocks/the-federal-reserve-is-looking-into-developing-digital-currency-us-2019-11-1028705211
Nov 25 2019, Coinbase Chief Legal Officer argued private corporations are best positioned to build a much-debated digital U.S. dollar, and that the government should stand back and let them, doing little, if anything, to regulate their underlying blockchains. Source: https://www.coindesk.com/coinbase-legal-chief-says-private-sector-should-build-us-digital-dollar
Jan 16 2020, Former CFTC chair launches US digital dollar research project. https://www.businesswire.com/news/home/20200116005116/en/CFTC-Chair-Launches-Digital-Dollar-Project
Feb 6 2020, Federal Reserve researching US digital dollar (CBDC- Central Bank Digital Currency) application. Source: https://www.coindesk.com/fed-reserve-is-researching-dlt-based-digital-dollar-says-governor
Feb 20 2020, "To give consumers more control over their data, FMR LLC, the parent company of Fidelity Investments, today announced the spin-off of Akoya℠ as an independent company that will be jointly owned by Fidelity, The Clearing House Payments Co. and 11 of its member banks. Bank of America, Capital One, Citi, FMR LLC, the parent company of Fidelity Investments, Huntington National Bank, JPMorgan Chase, KeyBank, PNC Bank, The Clearing House Payments Co., TD Bank, Truist, U.S. Bank and Wells Fargo & Company, are the new owners of Akoya." Source: https://www.theclearinghouse.org/payment-systems/articles/2020/02/02-20-2020-financial-industry-give-consumers-more-control-over-their-data
March 16 2020, Coinbase Chief Legal Officer begins to work at NY Fed: "Coinbase's chief legal officer, Brian Brooks, is leaving the crypto exchange to become the second in command at the U.S. Office of the Comptroller of the Currency (OCC)". Source: https://www.coindesk.com/coinbase-chief-legal-officer-leaves-to-take-senior-role-at-us-bank-regulator
March 2020, 2020 SWIFT attempting to bring entire banking payment processing industry to IS20222 standard: "In line with that vision, SWIFT is fully committed to improving transaction data quality through ISO 20022 and will continue to accelerate industry support to adopt ISO 20022 for market infrastructure initiatives, including TARGET2 migration/ESMIG, EURO1 and Bank of England RTGS renewal. .... The end-date to enable full ISO 20022 for cross-border payments remains as originally planned, November 2025." https://www.swift.com/standards/iso-20022-programme/timeline
March 20 2020, Fed-backed digital dollar to be well received by crypto-community with digital dollar being viewed as compliment, rather than a competitor to bitcoin. Source: https://www.marketwatch.com/story/bitcoin-enthusiasts-liberal-lawmakers-cheer-a-fed-backed-digital-dollar-2020-03-30
March 23 2020, COVID 19 pandemic leads to Stimulus Bill which includes proposed digital wallets for Stimilus Bill moneys to be distributed to people who do not have bank accounts currently. Ultimately, the digital wallets section was not included in signed bills but likely will resurface again shortly. Source: https://cointelegraph.com/news/in-covid-19-stimulus-us-congress-eyes-digital-dollar-to-send-aid-to-the-unbanked
March 30 2020, Bitcoin enthusiasts, liberal lawmakers cheer a Fed-backed digital dollar. “My legislation would allow every American to set up a free bank account so they don’t have to rely on expensive check cashers to access their hard-earned money,” Sen. Brown told the American Banker. While a digital dollar didn’t make it into the final stimulus legislation, that it concept is now being taken seriously by high-profile lawmakers in Washington is another signpost on the road to a digital-money future, said Carlos Domingo, CEO of Securitize. “The question is not if a digital dollar will be created but when and how.” Source: https://www.marketwatch.com/story/bitcoin-enthusiasts-liberal-lawmakers-cheer-a-fed-backed-digital-dollar-2020-03-30.
April 5 2020, NetCents Declares Readiness for Expected US Federal Reserve "Digital Dollar". Source: https://yhoo.it/34jPL0d
April 8 2020, Marion Laboure, Macro Strategist of DeutscheBank just tweeted this. Confirmation of Big Banks making big moves. One world currency coming soon by 2025? Source: https://twitter.com/MarionLaboure/status/1241316697128214529?s=20
The Clearing House will soon launch Secure Token Exchange (STE), a service to manage token issuance and authentication for mobile and ecommerce transactions. Source: https://www.theclearinghouse.org/payment-systems/secure-token-exchange
The Clearing House confirms their new RTP network through job posting on The Clearing House career website that's aim is to provide instant access to ALL account holders inUS. From their job listing: "The The RTP® network from The Clearing House is a real-time payments platform that all federally insured U.S. depository institutions are eligible to use for payments innovation. "The goal of the system is to ultimately provide access to instant payments to every financial institution and account holder in the US. To achieve this goal, significant enhancements and expansion of the system will occur over the next 3-5 years in order to support over 10,000 financial institutions. Qualifications Desired: Money transfer experience, especially knowledge of SWIFT, FED or CHIPS payment processing and settlement" This is stated in current job opening listed under "RTP Senior Developer" at The Clearing House. Source: https://www.theclearinghouse.org/about/careers/rtp-senior-developer. Screenshot of position in case this link dissappears: https://imgur.com/wr2Zoap
submitted by DanielGONZZZ to Chainlink [link] [comments]

How to Create Your Own Cryptocurrency Using Python 2020

A blockchain is a public database that irreversibly documents and authenticates the possession and transmission of digital assets. Digital currencies, like Bitcoin and Ethereum, are based on this concept. Blockchain is an exciting technology that you can use to transform the capabilities of your applications.
Of late, we’ve been seeing governments, organizations, and individuals using the blockchain technology to create their own cryptocurrencies—and avoid being left behind. Notably, when Facebook proposed its own cryptocurrency, called Libra, the announcement stirred many waters across the world.

What if you could also follow suit and create your own version of a cryptocurrency?

I thought about this and decided to develop an algorithm that creates a crypto.
I decided to call the cryptocurrency fccCoin.
In this tutorial, I’m going to illustrate the step-by-step process I used to build the digital currency (I used the object-oriented concepts of the Python programming language).
Here is the basic blueprint of the blockchain algorithm for creating the fccCoin:
class Block: def __init__(): #first block class pass def calculate_hash(): #calculates the cryptographic hash of every block class BlockChain: def __init__(self): # constructor method pass def construct_genesis(self): # constructs the initial block pass def construct_block(self, proof_no, prev_hash): # constructs a new block and adds it to the chain pass u/staticmethod def check_validity(): # checks whether the blockchain is valid pass def new_data(self, sender, recipient, quantity): # adds a new transaction to the data of the transactions pass u/staticmethod def construct_proof_of_work(prev_proof): # protects the blockchain from attack pass u/property def last_block(self): # returns the last block in the chain return self.chain[-1]
Now, let me explain what is taking place…
1. Building the first Block class A blockchain comprises of several blocks that are joined to each other (that sounds familiar, right?).
The chaining of blocks takes place such that if one block is tampered with, the rest of the chain becomes invalid.
In applying the above concept, I created the following initial block class
import hashlib import time class Block: def __init__(self, index, proof_no, prev_hash, data, timestamp=None): self.index = index self.proof_no = proof_no self.prev_hash = prev_hash self.data = data self.timestamp = timestamp or time.time() u/property def calculate_hash(self): block_of_string = “{}{}{}{}{}”.format(self.index, self.proof_no, self.prev_hash, self.data, self.timestamp) return hashlib.sha256(block_of_string.encode()).hexdigest() def __repr__(self): return “{} – {} – {} – {} – {}”.format(self.index, self.proof_no, self.prev_hash, self.data, self.timestamp)
As you can see from the code above, I defined the __init__() function, which will be executed when the Block class is being initiated, just like in any other Python class.
I provided the following parameters to the initiation function:
self—this refers to the instance of the Block class, making it possible to access the methods and attributes associated with the class; index—this keeps track of the position of the block within the blockchain; proof_no—this is the number produced during the creation of a new block (called mining); prev_hash—this refers to the hash of the previous block within the chain; data—this gives a record of all transactions completed, such as the quantity bought; timestamp—this places a timestamp for the transactions. The second method in the class, calculate_hash, will generate the hash of the blocks using the above values. The SHA-256 module is imported into the project to assist in obtaining the hashes of the blocks.
After the values have been inputted into the cryptographic hash algorithm, the function will return a 256-bit string representing the contents of the block.
This is how security is achieved in blockchains—every block will have a hash and that hash will rely on the hash of the previous block.
As such, if someone tries to compromise any block in the chain, the other blocks will have invalid hashes, leading to disruption of the entire blockchain network.
Ultimately, a block will look like this:
{ “index”: 2, “proof”: 21, “prev_hash”: “6e27587e8a27d6fe376d4fd9b4edc96c8890346579e5cbf558252b24a8257823”, “transactions”: [ {‘sender’: ‘0’, ‘recipient’: ‘Quincy Larson’, ‘quantity’: 1} ], “timestamp”: 1521646442.4096143 }
2. Building the Blockchain class The main idea of a blockchain, just as the name implies, involves “chaining” several blocks to one another.
Therefore, I’m going to construct a Blockchain class that will be useful in managing the workings of the whole chain. This is where most of the action is going to take place.
The Blockchain class will have various helper methods for completing various tasks in the blockchain.
Let me explain the role of each of the methods in the class.
a. Constructor method This method ensures the blockchain is instantiated.
class BlockChain: def __init__(self): self.chain = [] self.current_data = [] self.nodes = set() self.construct_genesis()
Here are the roles of its attributes:
b. Constructing the genesis block The blockchain requires a construct_genesis method to build the initial block in the chain. In the blockchain convention, this block is special because it symbolizes the start of the blockchain.
In this case, let’s construct it by simply passing some default values to the construct_block method.
I gave both proof_no and prev_hash a value of zero, although you can provide any value you want.
def construct_genesis(self): self.construct_block(proof_no=0, prev_hash=0) def construct_block(self, proof_no, prev_hash): block = Block( index=len(self.chain), proof_no=proof_no, prev_hash=prev_hash, data=self.current_data) self.current_data = [] self.chain.append(block) return block
c. Constructing new blocks
The construct_block method is used for creating new blocks in the blockchain.
Here is what is taking place with the various attributes of this method:
d. Checking validity
The check_validity method is important in assessing the integrity of the blockchain and ensuring anomalies are absent.
As mentioned earlier, hashes are essential for the security of the blockchain as even the slightest change in the object will lead to the generation of a completely new hash.
Therefore, this check_validity method uses if statements to check whether the hash of every block is correct.
It also verifies if every block points to the right previous block, through comparing the value of their hashes. If everything is correct, it returns true; otherwise, it returns false.
u/staticmethod def check_validity(block, prev_block): if prev_block.index + 1 != block.index: return False elif prev_block.calculate_hash != block.prev_hash: return False elif not BlockChain.verifying_proof(block.proof_no, prev_block.proof_no): return False elif block.timestamp <= prev_block.timestamp: return False return True
e. Adding data of transactions
The new_data method is used for adding the data of transactions to a block. It’s a very simple method: it accepts three parameters (sender’s details, receiver’s details, and quantity) and append the transaction data to self.current_data list.
Anytime a new block is created, this list is allocated to that block and reset once more as explained in the construct_block method.
Once the transaction data has been added to the list, the index of the next block to be created is returned.
This index is calculated by adding 1 to the index of the current block (which is the last in the blockchain). The data will assist a user in submitting the transaction in future.
def new_data(self, sender, recipient, quantity): self.current_data.append({ ‘sender’: sender, ‘recipient’: recipient, ‘quantity’: quantity }) return True
f. Adding proof of work
Proof of work is a concept that prevents the blockchain from abuse. Simply, its objective is to identify a number that solves a problem after a certain amount of computing work is done.
If the difficulty level of identifying the number is high, it discourages spamming and tampering with the blockchain.
In this case, we’ll use a simple algorithm that discourages people from mining blocks or creating blocks easily.
u/staticmethod def proof_of_work(last_proof): ”’this simple algorithm identifies a number f’ such that hash(ff’) contain 4 leading zeroes f is the previous f’ f’ is the new proof ”’ proof_no = 0 while BlockChain.verifying_proof(proof_no, last_proof) is False: proof_no += 1 return proof_no u/staticmethod def verifying_proof(last_proof, proof): #verifying the proof: does hash(last_proof, proof) contain 4 leading zeroes? guess = f'{last_proof}{proof}’.encode() guess_hash = hashlib.sha256(guess).hexdigest() return guess_hash[:4] == “0000”
g. Getting the last block
Lastly, the latest_block method is a helper method that assists in obtaining the last block in the blockchain. Remember that the last block is actually the current block in the chain.
u/property def latest_block(self): return self.chain[-1]
Let’s sum everything together
Here is the entire code for creating the fccCoin cryptocurrency.
You can also get the code on this GitHub repository.
import hashlib import time class Block: def __init__(self, index, proof_no, prev_hash, data, timestamp=None): self.index = index self.proof_no = proof_no self.prev_hash = prev_hash self.data = data self.timestamp = timestamp or time.time() u/property def calculate_hash(self): block_of_string = “{}{}{}{}{}”.format(self.index, self.proof_no, self.prev_hash, self.data, self.timestamp) return hashlib.sha256(block_of_string.encode()).hexdigest() def __repr__(self): return “{} – {} – {} – {} – {}”.format(self.index, self.proof_no, self.prev_hash, self.data, self.timestamp) class BlockChain: def __init__(self): self.chain = [] self.current_data = [] self.nodes = set() self.construct_genesis() def construct_genesis(self): self.construct_block(proof_no=0, prev_hash=0) def construct_block(self, proof_no, prev_hash): block = Block( index=len(self.chain), proof_no=proof_no, prev_hash=prev_hash, data=self.current_data) self.current_data = [] self.chain.append(block) return block u/staticmethod def check_validity(block, prev_block): if prev_block.index + 1 != block.index: return False elif prev_block.calculate_hash != block.prev_hash: return False elif not BlockChain.verifying_proof(block.proof_no, prev_block.proof_no): return False elif block.timestamp <= prev_block.timestamp: return False return True def new_data(self, sender, recipient, quantity): self.current_data.append({ ‘sender’: sender, ‘recipient’: recipient, ‘quantity’: quantity }) return True u/staticmethod def proof_of_work(last_proof): ”’this simple algorithm identifies a number f’ such that hash(ff’) contain 4 leading zeroes f is the previous f’ f’ is the new proof ”’ proof_no = 0 while BlockChain.verifying_proof(proof_no, last_proof) is False: proof_no += 1 return proof_no u/staticmethod def verifying_proof(last_proof, proof): #verifying the proof: does hash(last_proof, proof) contain 4 leading zeroes? guess = f'{last_proof}{proof}’.encode() guess_hash = hashlib.sha256(guess).hexdigest() return guess_hash[:4] == “0000” u/property def latest_block(self): return self.chain[-1] def block_mining(self, details_miner): self.new_data( sender=”0″, #it implies that this node has created a new block receiver=details_miner, quantity= 1, #creating a new block (or identifying the proof number) is awarded with 1 ) last_block = self.latest_block last_proof_no = last_block.proof_no proof_no = self.proof_of_work(last_proof_no) last_hash = last_block.calculate_hash block = self.construct_block(proof_no, last_hash) return vars(block) def create_node(self, address): self.nodes.add(address) return True u/staticmethod def obtain_block_object(block_data): #obtains block object from the block data return Block( block_data[‘index’], block_data[‘proof_no’], block_data[‘prev_hash’], block_data[‘data’], timestamp=block_data[‘timestamp’])
Now, let’s test our code to see if it works.
blockchain = BlockChain() print(“***Mining fccCoin about to start***”) print(blockchain.chain) last_block = blockchain.latest_block last_proof_no = last_block.proof_no proof_no = blockchain.proof_of_work(last_proof_no) blockchain.new_data( sender=”0″, #it implies that this node has created a new block recipient=”Quincy Larson”, #let’s send Quincy some coins! quantity= 1, #creating a new block (or identifying the proof number) is awarded with 1 ) last_hash = last_block.calculate_hash block = blockchain.construct_block(proof_no, last_hash) print(“***Mining fccCoin has been successful***”) print(blockchain.chain)
It worked!
Here is the output of the mining process:
***Mining fccCoin about to start*** [0 – 0 – 0 – [] – 1566930640.2707076] ***Mining fccCoin has been successful*** [0 – 0 – 0 – [] – 1566930640.2707076, 1 – 88914 – a8d45cb77cddeac750a9439d629f394da442672e56edfe05827b5e41f4ba0138 – [{‘sender’: ‘0’, ‘recipient’: ‘Quincy Larson’, ‘quantity’: 1}] – 1566930640.5363243]
Conclusion
There you have it!
That’s how you could create your own blockchain using Python.
Let me say that this tutorial just demonstrates the basic concepts for getting your feet wet in the innovative blockchain technology.
If this coin were deployed as-is, it could not meet the present market demands for a stable, secure, and easy-to-use cryptocurrency.
Therefore, it can still be improved by adding additional features to enhance its capabilities for mining and sending financial transactions.
Nonetheless, it’s a good starting point if you decide to make your name known in the amazing world of cryptos.
If you have any comments or questions, please post them below.
Happy (crypto) coding!
Source: Cryptoors
submitted by djkloud to CryptoTechnology [link] [comments]

Wolfs Group OY is an interesting company in terms of investment.

Wolfs Group OY is an interesting company in terms of investment.

I welcome my subscribers and all those who are not indifferent to the topic of cryptocurrencies, new startups and believe in blockchain technology and its application in real spheres of our life.

https://preview.redd.it/4rselfoa73a41.jpg?width=680&format=pjpg&auto=webp&s=fe2202d13e23936fc4d397d9b7cff185452d575b

As an enthusiast in this topic, I decided to start writing articles about young (and not very) projects that now appear in large numbers, but rare of them have good quality and will be in demand in the future. We all know that success depends on the desire of the team to work on the implementation of their own product and the formation of a good community around the project itself.

https://preview.redd.it/1bqsbuwc63a41.jpg?width=680&format=pjpg&auto=webp&s=05dc95797f47db7071f40e6a8312ed851d77a702

I will try to briefly describe the structure and advantages of the company Wolfs Group.
I did not choose this project for nothing. At the beginning of 2018, I came across a couple of projects with a similar idea. Colorful site, big promises, well, I will not continue (you know perfectly well what happened), who do not know these startups could not bring their idea to life, it's sad, but it's a fact.
Let's see if such a situation is waiting for this project Wolfs or we will see a real and good product in the end.

https://preview.redd.it/y7wshkvd73a41.jpg?width=680&format=pjpg&auto=webp&s=d5d464bb6b4fe30aed7f6297893d8877f6963f4d

First let's look at a brief presentation of the project:
https://youtu.be/KZI9aBvsiJc
Investment and consulting company Wolfs Group IS engaged in investing in real estate and FINTECH and consists of several large divisions, which means that this is a very promising area of activity and is very relevant in our time, if you follow the formula: Profit = Time + Effort.

https://preview.redd.it/duhg37mh73a41.jpg?width=680&format=pjpg&auto=webp&s=2950b1e49a9241a2ea736265a7460ba0c53b3957

I want to make it clear that the company Wolfs Group OY is not a newcomer to this market it is already a working tool, it should be taken into account first of all when we are going to invest.

https://preview.redd.it/ef29kmgq73a41.jpg?width=680&format=pjpg&auto=webp&s=d1fb0dc7352c024ff3ecc12a339a47374bd2d002

I want to pay attention to the location and registration of the company: Estonia.
This country is one of the fastest growing technological countries, which like a sponge absorbs all new technologies and creates a favorable ground for projects like Wolfs Group OY


https://preview.redd.it/jl557m4l73a41.jpg?width=680&format=pjpg&auto=webp&s=e820953439d94e9bdc65525bf9e50acf5f244589

The main problem that this company will solve is the ease of investment.

Let's say I'm new to investing, I have free capital and would like to use it for profit, what would I do? I'm looking for tools. As a rule, 99% of scammers get in the way, but I don't know about it yet. I lost one, lost two, lost my money a third time. I have gained experience and now I look with fear at any offer from people from the outside. Do you understand what I'm getting at? Yes, exactly. Wolfs Group will solve my problem perfectly.

https://preview.redd.it/o26188ft73a41.jpg?width=680&format=pjpg&auto=webp&s=3d89b54ffafca663b10a2f902e57ed59e3cbf5bc

There is a saying: "Trust, but check"

What I mean is that before you invest anywhere, or in any project/startup, you need to study its entire history. This is the first and most important rule.

https://preview.redd.it/ntb8f5b083a41.jpg?width=502&format=pjpg&auto=webp&s=67b14d0fcec4d5d6995ff11dc0e6d6b786a6e326
The face of the project / company is its website, here you will find all the information you need(Documents, road map, team members, etc)
There is no need to copy all these details in this article, everything is perfectly painted on the site. I just want to convey to you the value of this project in my understanding. This is not a call to invest it is a help in making a decision on my part.
My assessment of the Wolfs Group project is 5+ (on a five-point scale)
Note that IEO has already started: https://p2pb2b.io/token-sale/WLF/1

https://preview.redd.it/sttyadv473a41.jpg?width=680&format=pjpg&auto=webp&s=a283a1079a77f9363802d823a96672091443dd07
Project website: https://wolfs.group/

I advise you to study this document from cover to cover:
https://wolfs.group / wp-content/uploads/2020/01/Whitepaper-Wolfs-Group-OU_EN.pdf

Social network:
Twitter: https://twitter.com/GroupWolfs
Facebook: https://www.facebook.com/wolfsofficial/
Telegram: https://t.me/wolfsgroup
Bounty: https://bitcointalk.org/index.php?topic=5212178

Contact the author of the article:
Bitcoin Talk: https://bitcointalk.org/index.php?action=profile;u=2730832
ERC-20: 0x46424eEe79728A4a86faB59E7D5CEB96f284ec58

Thank you all for your attention and see you soon.
I hope for someone my short article will be a useful tool in making your own decision.
submitted by xevi1987 to u/xevi1987 [link] [comments]

Daily analysis of cryptocurrencies 20191005(Market index 31 — Fear state)

Daily analysis of cryptocurrencies 20191005(Market index 31 — Fear state)

https://preview.redd.it/oly12rv9rqq31.png?width=1500&format=png&auto=webp&s=6667e09b78b0edc6dc3b411e5f96bba36f4a6430

Attorney General Barr Signs Letter To Facebook From US, UK, And Australian Leaders Regarding Use Of End-To-End Encryption The Department of Justice published an open letter on October 3 to Facebook from international law enforcement partners from the United States, United Kingdom, and Australia in response to the company’s publicly announced plans to implement end-to-end-encryption across its messaging services. The letter is signed by Attorney General William P. Barr, United Kingdom Home Secretary Priti Patel, Australia’s Minister for Home Affairs Peter Dutton, and Acting Homeland Security Secretary Kevin McAleenan. Addressed to Facebook’s CEO, Mark Zuckerberg, the letter requests that Facebook not proceed with its end-to-end encryption plan without ensuring there will be no reduction in the safety of Facebook users and others, and without providing law enforcement court-authorized access to the content of communications to protect the public, particularly child users.
Coincheck Launches New Service That Rewards Gas Users With Bitcoin In an attempt to bring crypto to the mass audience, Japanese crypto exchange Coincheck inked a partnership deal with E-net Systems to reward gas users in the Tokyo Gas area, the company announced Oct 4. Under the partnership agreement, the two companies will start offering Coincheck Gas with two crypto-related plans for its customers. The gas service by the crypto company will offer a Bitcoin Rewards Plan under which customers will receive Bitcoin as rewards for the usage of gas. In addition, customers can also pay their gas bills using Bitcoin under the Bitcoin Payment Plan.
Libra Association: 1500 Entities Have Indicated Enthusiastic Interest To Join Libra After PayPal announced to withdraw their support for Facebook’s Libra cryptocurrency, Libra posted a series of tweets in response to the striking news. Libra Association tweeted: “Building a modern, low-friction, high-security payment network that can empower billions of financially underserved people is a journey, not a destination. This journey to build a generational payment network like the Libra project is not an easy path.” “We recognize that change is hard, and that each organization that started this journey will have to make its own assessment of risks and rewards of being committed to seeing through the change that Libra promises,” they continued. The final tweet read: “We look forward to the first Libra Council meeting in 10 days and will be sharing updates following that, including details of the 1,500 entities that have indicated enthusiastic interest to participate.”
Prysmatic Labs Team Unveils Updates On The Ethereum Serenity Roadmap Prysmatic Labs team has unveiled biweekly updates on the Ethereum Serenity roadmap via Medium. According to the article, the testnet has been restarted for everyone to experience staking and becoming a validator. This testnet includes beacon chain spec v0.8.4, various performance improvements, faster BLS paring library, new syncing strategies and more RPC end point support.
Japan: Using Virtual Currency To Make Donations To Politicians Is Legal Citing Yomiuri Shimbun, the Japanese Ministry of Internal Affairs and Communications, a cabinet-level ministry in the Government of Japan, indicated that the use of virtual currency to donate to politicians is not illegal. According to Japan’s Political Fund Control Law, it is prohibited to conduct donations to politicians in principle, but virtual currency is not in the category of “money and securities” which are covered by law.

Encrypted project calendar(October 05, 2019)

Ontology (ONT): Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network. BNB/Binance Coin: The Binance Coin (BNB) Oasis Game Hackathon will be held on October 5th in Bangalore, India, and will be hosted by Binance Labs, Matic Network, Cocos-BCX, Celer Network, Marlin Protocol.

Encrypted project calendar(October 06, 2019)

SPND/ Spendcoin: Spendcoin (SPND) will be online on October 6th

Encrypted project calendar(October 07, 2019)

GNO/Gnosis: Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(October 09, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

Encrypted project calendar(October 10, 2019)

INB/Insight Chain: The Insight Chain (INB) INB public blockchain main network will be launched on October 10. VET/Vechain: VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10. CAPP/Cappasity: Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).

Encrypted project calendar(October 11, 2019)

OKB/OKB: OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”

Encrypted project calendar(October 12, 2019)

BTC/Bitcoin: The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th.

Encrypted project calendar(October 14, 2019)

BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.

Encrypted project calendar(October 15, 2019)

RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
https://preview.redd.it/jfxnwvgcrqq31.png?width=473&format=png&auto=webp&s=6adc6ab9f1c8a5f14874041d1e57a6721b8023b3

On the chart, we can see that the price made a break of the lower resistance boundary of the “triangle with a flat bottom” formation in the zone of $9560–9580. At the same time, 157 SMA was broken, which confirmed the dominance of sellers. Now the price is trading around $8100–8250, at the border of the resistance of descending channel. Consolidation of the price indicates the current period of accumulation, interest of buyers and a potential return to the upper boundary of the descending channel to $9100–9200 zone. After the middle of the month, the price may rebound from the support level of the descending channel and return to the area of $​​8900–9300, where there is a strong resistance. Also, the other day, the level of 8200 was traded and once again protected. The common mood is to fall, and we know that often the market goes against the majority. A lot of people are in shorts and this is an excellent point for growth (their stops and liquidation of positions, as was the case recently with longsters)
Review previous articles: https://medium.com/@to.liuwen

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LinkedIn:https://www.linkedin.com/in/liu-wei-294a12176/
submitted by liuidaxmn to u/liuidaxmn [link] [comments]

NEO LIVE - Week 1 Featuring Travala.com AMA summary.

Travala.com / $AVA was the first project to participate in the Weekly "NEO LIVE" Event being run by the NEO Global development:
https://neonewstoday.com/events/neo-live-telegram-series-to-feature-ecosystem-projects-in-weekly-event/
I have gone through and cleaned up the Telegram chat and formatted the questions to make them more readable. Due to the fast moving chat some questions got mixed up a little but i've done my best to remove spam/ emojis and make it readable.
The full archive can be found on the NEO Telegram: @NEO_EN
Introduction:
Host, NGD :
Hi Matt, first question, when is Travala coming to Binance if at all any plans ?
Should we be expecting 15 suppliers integration by Aug 15th?
Why should I use Travala instead of Orbitz or other popular travel sites?
Hi Matt, when the beta version goes live, travala can expect an Increase of booking numbers I think. Are you considering to hire more people for costumers service before or around that time?
** Due to fast moving chat this question got messed up. The team later commented the following regarding this question:
What are benefit of Travala token holder ???
Is the ava token able to be purchased directly on the Travala website? Or will a third party have to handle this? Is there a fiat gateway plan? Will Nash handle this?
First of all congratulations matt for your crowdfunding on crowdcube my question is when we see travala application on both platform means app is more easy and user friendly as comapre to website so any approximately time frame ?
Will you list travala at some point at kayak or is this plan cancelled?
what's your vision for travala by end of 2020 and beyond?
Hello Matt! Could you tell about your goals in the future in terms of market share? Do you see having 0.1-1% of Market share of current giants like Booking.com, Hotels.com as a realistic goal?
Along with the August update, will search improvements be also in place, so its easily to locate countries, etc, currently difficult to find all places in the Maldives for example, which we will need for the Travala knees up sometime soon
What other (other than the SMART rewards) ways are there that have been implemented to encourage the usage of AVA on the platform instead of the other many payment options?
can you elaborate on the Key Opinion Leaders? Is this an affiliate marketing program outside of the $20 invite reward?
Travala does already accept several cryptocurrencies as a mean of payment. Do you plan to add GAS at some point?
When do you expect the review giveback program to be put in place and what are the projections on % of people making reviews vs total bookings.
when do you expect beta site to go live?
context: 1/3 reviews can be considered as fake on TripAdvisor. How will you guys handling reviews on your platform. Can you elaborate more about this topic, because it is very vital problem in Travel industry.
I remember business accounts went live during the last update, but this isnt obvious anywhere on the site, is this something you are handling privately at the moment?
Are there more partnerships planned for Q3 that you can't tell us yet?
the commission fee is said to range between 5-10% depending on maturity of the platform. Can you confirm what % the current fee is?
how many employees does Travala now have?
Will you ever get an office with windows? :grin:
Has any details been released of the new CTO?
Are qualifying crowdcube contributors still receiving t-shirts and goody bag etc at some point?
when will flight booking will be avalible on travala?
what’s your favorite part of working at Travala?
how would a buyout of Travala affect the tokens?
Any plans to have a bug bountry programs as many crypto project have ,?
You already been approached by one of the big OTA’s for an cooperation or maybe for a business level account?
what would be the primary driver to decrease the required 5.000 token amount to become lvl 5 SMART?
What are the costs to maintain Travala system and how those costs are covered? What are biggest costs?
is there any way to have a sneak peak of the new website :grin: ?
how many employees do you expect to have by end of Q3?
Are you satisfied with the development of travala so far?
if the selected booking date is not available, can the result provide 'next available date'. Or is this already coming?
With NEO’s EcoFund investment, what are Travala.com’s new strategic growth targets?
can we expect greater marketing in terms of adspend once beta comes online in August, or is the marketing campaign going to increase later in Q3 or Q4?
how much does the crypto market dropping effect your model, and are you well prepared for a long crypto winter should that eventuate and how much do you rely on the crypto prices for stability vs getting revenue elsewhere?
do you personally believe that we will be listed on kayak in 2019?
What do u think about NEO blockchain
Will Libra be accepted as a payement method in the far future ?
are you guys attending more events this year?
Can you share something about the plans to boost the smart memberships ?
we’ve seen you guys do great work with BCH, LTC and DASH, has other top 20 coins approached you and showed interest?
Will Travala harness the Seraph ID solution
Does Travala.com have any plans in the future to work together with other NEO ecosystem projects? :laughing:
In addition to financial assistance, in what other ways will NEO’s EcoFund benefit Travala.com and help it reach its goals? Moving forward, in what capacities will NEO and Travala.com work together? How does it differ from your prior relationship?
Will it be possible one day to buy a smart membership directly with fiat with the nash app like buying a Prime membership on Amazon ?
Is it possible that Travala helps Airbnb to go blockchain?
submitted by xenzor to Travala [link] [comments]

A Crowdsourced r/BitcoinCA response to the Canadian securities regulatory framework for crypto-asset trading platforms

This thread will be stickied until May 15th (the deadline for feedback to be submitted to the OSC). May 10th will be the deadline for your comment to be included in the collective submission to the OSC.
Google Document of Collective Comments: https://docs.google.com/document/d/1S-Tkp7JbHRA6Jcztze200CFj_k2hYmcC-Qo1X92G9z8/edit?usp=sharing
Background: https://www.osc.gov.on.ca/en/NewsEvents_nr_20190314_csa-consult-on-regulatory-framework-crypto-asset-trading-platforms.htm
Detailed Document: https://www.osc.gov.on.ca/documents/en/Securities-Category2/csa_20190314_21-402_crypto-asset-trading-platforms.pdf
Question By Me: What is your relationship/expertise/experience with cryptocurrency. Are you a cryptocurrency user, miner, trader, platform builder, business etc? This question is not mandatory, but it's more for the regulator to get a sense of your demographic/where you are coming from.
Questions asked by the OSC:
  1. Are there factors in addition to those noted in Part 2 that we should consider?
  2. What best practices exist for Platforms to mitigate the risks outlined in Part 3? Are there any other significant risks which we have not identified?
  3. Are there any global approaches to regulating Platforms that are appropriate to be considered in Canada?
  4. What standards should a Platform adopt to mitigate the risks related to safeguarding investors’ assets? Please explain and provide examples both for Platforms that have their own custody systems and for Platforms that use third-party custodians to safeguard their participants’ assets.
  5. Other than issuance of Type I and Type II SOC 2 Reports, are there alternative ways in which auditors or other parties can provide assurance to regulators that a Platform has controls in place to ensure that investors’ crypto-assets exist and are appropriately segregated and protected, and that transactions with respect to those assets are verifiable?
  6. Are there challenges associated with a Platform being structured so as to make actual delivery of crypto assets to a participant’s wallet? What are the benefits to participants, if any, of the Platforms holding or storing crypto assets on their behalf?
  7. What factors should be considered in determining a fair price for crypto assets?
  8. Are there reliable pricing sources that could be used by Platforms to determine a fair price, and for regulators to assess whether Platforms have complied with fair pricing requirements? What factors should be used to determine whether a pricing source is reliable?
  9. Is it appropriate for Platforms to set rules and monitor trading activities on their own marketplace? If so, under which circumstances should this be permitted?
  10. Which market integrity requirements should apply to trading on Platforms? Please provide specific examples.
  11. Are there best practices or effective surveillance tools for conducting crypto asset market surveillance? Specifically, are there any skills, tools or special regulatory powers needed to effectively conduct surveillance of crypto asset trading?
  12. Are there other risks specific to trading of crypto assets that require different forms of surveillance than those used for marketplaces trading traditional securities?
  13. Under which circumstances should an exemption from the requirement to provide an ISR by the Platform be appropriate? What services should be included/excluded from the scope of the ISR? Please explain.
  14. Is there disclosure specific to trades between a Platform and its participants that Platforms should make to their participants?
  15. Are there particular conflicts of interest that Platforms may not be able to manage appropriately given current business models? If so, how can business models be changed to manage such conflicts appropriately?
  16. What type of insurance coverage (e.g. theft, hot-wallet, cold-wallet) should a Platform be required to obtain? Please explain.
  17. Are there specific difficulties with obtaining insurance coverage? Please explain.
  18. Are there alternative measures that address investor protection that could be considered that are equivalent to insurance coverage?
  19. Are there other models of clearing and settling crypto assets that are traded on Platforms? What risks are introduced as a result of these models?
  20. What, if any, significant differences in risks exist between the traditional model of clearing and settlement and the decentralized model? Please explain how these different risks could be mitigated.
  21. What other risks could be associated with clearing and settlement models that are not identified here?
  22. What regulatory requirements (summarized at Appendices B, C, and D), both at the CSA and IIROC level, should apply to Platforms or should be modified for Platforms? Please provide specific examples and the rationale.
Goal of this thread: I'm hoping that people will answer some of these questions in the comments. Even answering one question that you are interested in would be helpful, but don't feel obligated to answer all the questions. Anyone can participate. My hope is that all responses can be aggregated into one document and submitted on behalf of myself or another user to the OSC.
If you don't want your reddit username to be included in the aggregated document then please make mention of that in your comment.
Less then professional or trolling responses will not be included.
If you would like to be the person to put your real name on the aggregated submission to the OSC please feel free to make a throw away account and pm me with your details.
UPDATE: I believe this thread got enough positive support to sticky it for the time being and move forward tentatively with faze two.
I view this exercise as an opportunity to give the regulators a strong response from the Bitcoin community at large. A growing trend has been "Blockchain experts" being the only participants in this kind of process, so I'm hoping we can change that and add our collective voice to this process.
Faze two will involve me drafting an introduction and adding comments posted here to a publicly viewable/but not editable, google doc.
I encourage you all to give some thought and consideration to your posts, as low quality posts may be excluded. Please give some thought to punctuation, sentence structure and formatting. The more professional the better. You do not need to answer each question, you can even give a general opinion that does not address any of the questions asked by the regulators.
Furthermore, if you do not want your reddit name associated with the submission, please mention this in your post.
Lastly, if you are a credible Bitcoin enthusiast or computer science expert and would like to publicly represent the collective comments that are accumulated in this exercise, then please PM me with a throwaway reddit acocunt for next steps.
submitted by Fiach_Dubh to BitcoinCA [link] [comments]

What did happen in the Zilliqa world during the week 11 2019 ? Summary

What did happen in the Zilliqa world during the week 11 2019 ? Summary

https://preview.redd.it/vqic3uf3vl131.png?width=1006&format=png&auto=webp&s=ffe6dd21fa34b2d8a8d29cbdf0b6b82460e50679
Hi Zilliqa Community,

You will find below the edition n°3 of the weekly summary "What did happen in the Zilliqa world during the week 21 2019 ?"

Zilliqa Team
Max Kantelia speaks on the opportunities and challenges that come with financial disruption at MaltaBlockchainSummit
The Many Faces Of Innovation: What Lies Ahead For Future Of Global Tech Entrepreneurship

Zilliqa projects and developments
Zilliqa Migrates to New Address Format
Zilliqa Technical Update 21 May 2019
Unstoppable Domains, The Most Promising Of Zilliqas Grants Recipients
Scilla:
Comparison Scilla vs Solidity
Structure of a Scilla contract
First signature based transaction in the world signed by a Ledger Nano S on Zilliqa blockchain
Moonlet:
=> Moonlet one of the best wallets in the crypto game
=> How Moonlet prevents users from sending native ZILs to ETH addresses

Discussions or articles on Zilliqa swap
KuCoin Starts the Zilliqa (ZIL) MainNet Token Swap
Gate.io token swap status
Binance ZIL Withdrawals
Bittrex and token swap?

Other topics
How ZILLIQA is better than BITCOIN and ETHEREUM?!
Is Zilliqa Adoption Happening?
The Project Born From A Concept
Developers Analysis - Assessment of the strengths
DApp Smart Contract Blockchain Platforms Comparison (MAY 2019 UPDATE)
Unofficial Zilliqa Discord server
Zilliqa Grows on the Eve of the Launch of Smart Contracts and Integration into Ledger Wallets
Binance reasearch on zilliqa
Trust Wallet and Native Zil?

Previous main announcements
Zilliqa Day 2019 & Zilliqa Day Countdown- win prizes in the online competition
Announcement of the avaibility of smart contracts on Zilliqa
=> Zilliqa Ecosystem Grant Programme - Want to build on Zilliqa ?
=> Looking for understanding of Zilliqa smart contract platform technology,the Scilla programming language and the general developer toolings ? Have a look on this video

Previous editions of "What did happen in the Zilliqa World during the week ?
What did happen in the Zilliqa world during the week 20 2019 ? Summary
What did happen in the Zilliqa world during the week 19 2019 ? Summary
submitted by blockchain92400 to zilliqa [link] [comments]

What Is USDQ Stable Coin and Q DAO? Introduction To Q DAO and USDQ

This article was provided by Alex Adylshin, Blockchain engineer at PLATINUM ENGINEERING. Working together with highly experienced designers, front-end/back-end developers, auditors, and strategists, Alex is responsible for architecting reliable and scalable blockchain solutions. He always strives to gain a deep understanding of underlying business logic, so that the delivered DLT-driven systems help strengthen the overall customer’s strategy, effectively integrating with other facets. One of such projects is USDQ, a stablecoin, driven by smart mechanisms and decentralization, which brings crypto-collateralized lending to anybody who’s willing to try. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under USDQ brand. That’s pretty disruptive. Learn more about how it works in this article.
Similar to many other successful projects, USDQ leverages a stack of highly complex technologies and concepts, which require an in-depth review.
Q DAO is a classic utility coin, but it has very important governance features. In order to understand how it works, it’s best to first grasp the interrelation between the two coins, operating within the ecosystem – USDQ and Q DAO.
How do stablecoins work?
In the nutshell, stablecoin’s value is pegged to the value of another asset.
With regard to this ecosystem, it includes a coin named USDQ. It’s pegged to 1USD in the soft format, i.e. its price can sometimes a little deviate from 1USD, but it ALWAYS returns to this level. Most of the other stablecoins don’t effectively institute the pegs, but they can be seen as just an “avatar” for fiat currency. The managing company takes fiat from users and transfers to them a coin, which in fact is a form of a “promissory note”, quite similar to how fiats work.
As a result, such systems need to have a central point of control – a company which receives the fiat and provides the stablecoins in return. Such a centralized approach goes against the very philosophy, based on which the crypto industry has been built.
In contrast, the USDQ system does not use any fiat as a collateral. Instead, USDQ acts as a stablecoin, while the internal governance token Q DAO is allowed to remain freely floating and volatile.
Why do we need stablecoins anyway?
Newcomers might have a problem with seeing how stablecoins bring value and why the crypto community needs them at all. But if you take a deeper dive, you’ll see why enthusiasts talk so much about them.
To better understand the stablecoins, let’s first analyze Bitcoin, serving as a perfect example of a classic cryptocurrency:
In spite of Bitcoin becoming so popular and many people thinking about it as a cardinally new form of money, it’s virtually impossible to use it for the original purpose. Purchasing things with Bitcoin makes very little sense. With extremely huge price growth in the past, nobody would want to spend Bitcoin on buying some things and missing out on the next big move.
In addition, financial companies can’t use Bitcoin to offer standard financial services to the general population, such as deposits, lending and others. The point is that with high volatility, they won’t be able to manage interest rates because Bitcoin can skyrocket by dozens of percentage points at any point in time.
And this is the perfect opening for stablecoins to bring out their value. Coins like USDQ will become (i hope) the trigger, required to push mass adoption and maybe even replace fiats in the years to come.
How is USDQ generated?
USDQ is created by a smart contract. The system accepts Bitcoin as a collateral and outputs the stablecoin in exchange. Other top 10 cryptocurrencies are planning to be implemented as a collateral in the future.
The procedure used is similar to obtaining a mortgage loan from a bank. Quite common practice, when a bank would provide a loan amount, equal to a maximum 70% of the net value of your collateral. In this way, the bank protects itself against a potential depreciation in the asset’s value.
The USDQ ecosystem operates in a similar manner. Whenever a user wishes to obtain a loan, they will be asked to collateralize an amount in Bitcoin that is higher than the loan’s value. As of now, this rate stands at 166%.
Let’s look at an example. If Bitcoin trades at $5,000 and a user wants to receive $5,000 in USDQ, they will have to collateralize around $8,300 in Bitcoins (i.e. 166% of the loan amount).
How are Q DAO Tokens used?
Q DAO ecosystem is a decentralized autonomous organization, in which USDQ and Q DAO tokens circulate, enabled by underlying smart contracts and blockchain solutions. This system is a great example of the power that blockchains bring to the wider economy and finance. Smart contracts, used to execute transactions, eliminate the need in the third party, while also helping cut costs and increase processing speed. In the nutshell, all of the mechanisms used within the system are focused on mitigating potential volatility of USDQ against its peg, USD.
When you generate $5,000 in USDQ by collateralizing around $8,300 in Bitcoin this means that the collateralized Bitcoin is being locked away in the system, which is known as a Collateralized Debt Contract (CDC). The locked value in Bitcoin is similar to “equity” in the house being mortgaged.
If you decide to exchange USDQ back into Bitcoins, the smart contract will automatically return you the amount in Bitcoins and destroy the respective amount of USDQ.
And now let’s take a deeper look into the processes that occur whenever the price of Bitcoin changes over time.
Bitcoin price increases
Should the Bitcoin grow in price, this won’t have any negative impact on your holdings of USDQ since the smart contract already holds 166% of the loan value. In a way, it’ll just result in your USDQ becoming “stronger”.
In the event of the continued growth in prices, the value of USDQ will continue to rise too. Thus, there’s a need to have algorithms that will prevent the increase in USDQ value. The ecosystem incorporates a mechanism which motivates the creation of additional USDQ units from the same CDC smart contract. This results in a dilution of the USDQ pool with the supply growing. And the growing supply always invariably results in a decrease in prices. Gradually, the collateralization proportion will get back to the original value of 166%.
Bitcoin price decreases
While it’s easy to tackle growing prices for the collateral, a falling price of collateral is activating margin call.
In case price of Bitcoin going down, CDCs will sell off some of the collateralized Bitcoins on the open market above the 100% collateralization level. Subsequently, the obtained funds are used to buy back USDQ, which will push the price back up, since the demand will grow and an increase in the demand always results in growing prices.
What are the use cases for Q DAO, the internal governance token?
Now that we’ve learned about USDQ, acting as a stablecoin within the ecosystem, we can dig deeper into how Q DAO, an internal governance token, functions.
Q DAO has three main use cases – acting as a utility token, enabling system governance and sustaining recapitalization mechanisms.
As a utility token, Q DAO is used to pay out fees, charged upon USDQ generation via CDCs. Thus, whenever a user pays out fees in Q DAO, this amount is received by the system and then automatically destroyed.
With this destruction process being performed consistently, the number of Q DAO units decreases and thus – due to reducing supply – the prices grow.
As a governance token, Q DAO is used to enable community members to participate in the votes. Importantly, within the USDQ system, all decisions are put on the ballot with Q DAO voters being able to vote against proposals, required for any changes within the system.
The community has votes on a regular basis, which helps to sustain effective methods for risk mitigation and security assurance. In order to prevent collusion seeking to push harmful proposals, there’s a time period between the voting process and actual implementation of the decisions. Thus, Q DAO is very similar to voting rights that national citizens have or voting priviligences, vested by shares in corporations.
And it’s this community that helps steer the ecosystem towards the most optimal course of development. The Q DAO holders are inherently incentivized to take an active part in the community activities and vote only for those proposals that they deem fit.
This procedure stipulates that in the event of irresponsible or non-compliant management within the ecosystem, the community members will be punished with their Q DAO holdings going down in value. Consequently, the only way to sustain high prices for Q DAO is to determine the best course of action for the ecosystem.
USDQ development team
USDQ ecosystem is being developed by PLATINUM ENGINEERING, a major blockchain tech outlet. The team brings together a broad-based talent pool with professionals specializing in blockchain architecture, usability, back-end and front-end solutions.
With extensive experience and in-depth understanding of the blockchain development, PLATINUM ENGINEERING will be able to deploy effective stabilization mechanics and predictive capabilities, driven by the neural network.
USDQ and Q DAO: major use cases
As compared to conventional cryptocurrencies, stablecoins bring stability, offering a much better deal to adopters. Without the rampant volatility, seen at crypto markets, they enable efficient transactions processing and records maintenance. Thus, they guarantee a fixed value and enable financial companies to start providing standard services, such as lending, borrowing and more.
In addition, online e-commerce and retailers at large would stand to win from using stablecoins to transact with their customers, avoiding high volatility of Bitcoin. Crypto enthusiasts are always hesitant about spending their Bitcoin holdings, justifiably expecting a stronger growth at any time, while stablecoins will always retain the same value since they are pegged to $1.
The early cryptocurrencies adopters are mostly enthusiasts who favor decentralization and de-linking from “legacy finance”. That why, USDQ and Q DAO, being fully decentralized, would be welcome among users who would find it appealing that the coins don’t depend on any other fiat currencies, securities or authorities.
The word of mouth would quickly popularize USDQ, making it a viable option for using as a store of value and unit of exchange.
In the future, with USDQ being adopted throughout the community, Q DAO is expected to grow in value due to wider usage for paying fees and governance.
Competing projects and challenges ahead Fiat-collateralized stablecoins
USDQ is just starting out as a project, which means that the crypto community might not feel confident with using it, preferring to continue utilizing better understood fiat-collateralized coins, in the short- and medium-term.
Overall, all stablecoins (especially backed by fiat like USDT) differ a lot from other crypto projects, since they aren’t exactly aligned with the decentralization philosophy. With a certain degree of centralization retained by all stablecoin projects, they might just be a beautiful dream that won’t take roots in the crypto industry.
As of now, it’s hard to forecast how fast USDQ will become a popular item in the enthusiasts’ portfolios and how fast users will be shifting from other stablecoins into USDQ.
Global Resolution
The Global Resolution procedure stipulates the actions that will occur in the event that USDQ and Q DAO melt down.
This will happen if USDQ starts fluctuating outside of the normally seen deviation bounds or CDCs become too under-collateralized with the Bitcoin collateral losing its value by an extremely high degree.
In this event, USDQ amounts will be locked and the holders will receive the equivalent amounts in Bitcoin minus the fees payable for the use. USDQ will be terminated, but it’s possible that the Q DAO ecosystem will continue operating to create a new stablecoin.
Future potential for USDQ ecosystem
The USDQ ecosystem is being developed based on lengthy research and trials. Taking into account integrated predictive capabilities, this stablecoin will become a unique offering on the market.
In the future, crypto community will find it possible to use USDQ for any purposes, for which fiat has been traditionally utilized. It can serve for providing a down payment for a mortgage, placing a deposit with a company or storing reserves in a safe haven currency.
With the growing number of users, the development team at PLATINUM ENGINEERING will have to consider the rates at which the USDQ circulation grows, so that it’s not scaled prematurely.
In addition, USDQ is just a second try in fiat-pegged stablecoins (first is a Maker DAO) with more similar tokens to follow. Another vector for development is a multi-collateral stablecoin that will introduce a higher diversification and thus offer a better chance for a safe have use case. It remains to be seen how effective and appealing the multi-collateral token would be to the crypto community and users at large.
Bottomline
USDQ is a new iteration on the idea for a crypto-collateralized stablecoin. And stablecoins are essential for the crypto industry to move forward, winning mass adoption among individuals and businesses. High volatility, offered by cryptocurrencies like Bitcoin, is highly appealing to traders, but it prevents financial companies from using this new tech.
Meanwhile, the existing fiat-collateralized stablecoins are slowly losing their popularity because of the centralization issues and controversies surrounding these projects. Crypto-collateralized solutions seem a way forward.
USDQ and Q DAO coexist together while offering benefits to the two different target audiences. USDQ provides stability, while Q DAO opens a way to a deep-level involvement into the project’s governance and ability to reap profits.
With USDQ scaling and introducing multi-collateral offering, it’s possible that a multitude of versatile use cases will appear, bringing wider usage across the crypto community and population at large.
USDQ is decentralized stablecoin, which uses smart algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defences against malicious acts and attacks. First run in line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and neural networks for high-endurance stablecoins. Soon there will be even more fully backed stable coins: JPYQ, KRWQ, SGDQ, HKDQ, CNYQ, RUBQ under USDQ brand. Fully anonymous, USDQ breaks limits out of this legacy world.
PLATINUM ENGINEERING values your opinion and welcomes you to reach to Alex and his colleagues on Facebook, Telegram or LinkedIn. The team believes it’s vital for crypto-projects to talk, cross-pollinate and peer-review new solutions and ideas. The broad-based team is ready to deploy solutions for customers, delivering quick wins from business tokenization, process automation, and trustless transactions. Disrupting your own niche is slowly turning in vogue.
This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins. This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.
submitted by Platinum_QDAO to u/Platinum_QDAO [link] [comments]

Artificial Intelligence And Blockchain: 3 Major Benefits Of Combining These Two Mega-Trends

Artificial Intelligence And Blockchain: 3 Major Benefits Of Combining These Two Mega-Trends
https://preview.redd.it/9coumuk8rkl11.jpg?width=1200&format=pjpg&auto=webp&s=5f967d1f8b48a3aa510f14f62cde05c5151f6ff4
Previously I have written about the reality and potential of ongoing efforts to integrate blockchain with the internet of things (IoT). Now I am going to look at how encrypted, distributed ledgers could unlock new frontiers for another cutting-edge technology: artificial intelligence (AI).
AI, as the term is most often used today is, simply put, the theory and practice of building machines capable of performing tasks that seem to require intelligence. Currently, cutting-edge technologies striving to make this a reality include machine learning, artificial neural networks and deep learning.
Meanwhile, blockchain is essentially a new filing system for digital information, which stores data in an encrypted, distributed ledger format. Because data is encrypted and distributed across many different computers, it enables the creation of tamper-proof, highly robust databases which can be read and updated only by those with permission.
Although much has been written from an academic perspective on the potential of combining these ground-breaking technologies, real world applications are sparse at the moment. However, I expect this situation to change in the near future.
So here are three ways in which AI and blockchain are made for each other.
AI and encryption work very well together
Data held on a blockchain is by its nature highly secure, thanks to the cryptography which is inherent in its filing system.
What this means is that blockchains are ideal for storing the highly sensitive, personal data which, when smartly processed, can unlock so much value and convenience in our lives. Think of smart healthcare systems that make accurate diagnoses based on our medical scans and records, or even simply the recommendation engines used by Amazon or Netflix to suggest what we might like to buy or watch next.
Of course, the data which is fed into these systems (after being collected from us as we browse or interact with services) is highly personal. The businesses that deal in it must put up large amounts of money to meet the standards expected of them in terms of data security. And even so, large-scale data breaches leading to the loss of personal data are increasingly common (and increasingly large!).
Blockchain databases hold their information in an encrypted state. This means that only the private keys must be kept safe — a few kilobytes of data — in order for all of the data on the chain to be secure.
AI has plenty to bring to the table in terms of security, too. An emerging field of AI is concerned with building algorithms which are capable of working with (processing, or operating with) data while it is still in an encrypted state. As any part of a data process which involves exposing unencrypted data represents a security risk, reducing these incidents could help to make things much safer.
Blockchain can help us track, understand and explain decisions made by AI
Decisions made by AIs can sometimes be hard for humans to understand. This is because they are capable of assessing a large number of variables independently of each other and “learning” which ones are important to the overall task it is trying to achieve.
As an example, AI algorithms are expected to increasingly be used in making decisions about whether financial transactions are fraudulent, and should be blocked or investigated.
For some time though, it will still be necessary to have these decisions audited for accuracy by humans. And given the huge amount of data that can be taken into consideration, this can be a complex task. Walmart, for example, feeds a months’ worth of transactional data across all of its stores into its AI systems which make decisions on what products should be stocked, and where.
If decisions are recorded, on a datapoint-by-datapoint basis, on a blockchain, it makes it far simpler for them to be audited, with the confidence that the record has not been tampered with between the information being recorded and the start of the audit process.
No matter how clearly we can see that AI offers huge advantages in many fields, if it isn’t trusted by the public, then its usefulness will be severely limited. Recording the decision-making process on blockchains could be a step towards achieving the level of transparency and insight into robot minds that will be needed in order to gain public trust.
AI can manage blockchains more efficiently than humans (or “stupid” conventional computers)
Traditionally, computers have been very fast, but very stupid. Without explicit instructions on how to perform a task, computers can’t get them done. This means that, due to their encrypted nature, operating with blockchain data on “stupid” computers requires large amounts of computer processing power. As an example, the hashing algorithms used to mine blocks on the Bitcoin blockchain take a “brute force” approach — effectively trying every combination of characters until they find one which fits to verify a transaction.
AI is an attempt to move away from this brute force approach, and manage tasks in a more intelligent, thoughtful manner. Consider how a human expert on cracking codes will, if they are good, become better and more efficient at code-breaking as they successfully crack more and more codes throughout their career. A machine learning-powered mining algorithm would tackle its job in a similar way — although rather than having to take a lifetime to become an expert, it could almost instantaneously sharpen its skills, if it is fed the right training data.
Clearly, blockchain and AI are two technological trends which, while ground-breaking in their own rights, have the potential to become even more revolutionary when put together. Both serve to enhance the capabilities of the other, while also offering opportunities for better oversight and accountability.
submitted by excolony to u/excolony [link] [comments]

An Introduction to Global Blockchain Policies Part I

https://preview.redd.it/azedvcnlfhj21.jpg?width=918&format=pjpg&auto=webp&s=0b7da7d0ea190e8beb550abfa5972361114ad427
Source: Jinse.com
In 2008, Bitcoin was first introduced to the world by the father of cryptocurrency Satoshi Nakamoto; a move that kicked off the development of blockchain technology and a form of encrypted currencies we now know as cryptocurrencies. As interest in cryptocurrencies grew, governments around the world also began implementing policies to regulate these activities, of which the most favourable were noted to root from Southeast Asian countries. This observation is further bolstered by a report “Introduction to blockchain policies in Southeast Asia” published on 2 February this year.
Today, we will be helping you understand how governments around the world are regulating blockchain technology and cryptocurrencies in their countries, as well as where they stand when it comes to this controversial topic.

USA

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The United States of America has always kept a close watch on blockchain developments. In September 2016, the US House of Representatives passed a non-binding resolution calling for a national technology innovation policy that includes supportive language for digital currencies and blockchain technology. This was followed by the formation of a blockchain working group “[email protected]” later on in February 2017 to formulate and improve regulatory policies related to blockchain technology.
On 12 January 2019, the state legislature of the American state of Wyoming passed two house bills that aim to foster a regulatory environment conducive to cryptocurrency and blockchain innovation. They were the House Bill 62 “Wyoming Utility Token Act-property amendments” and House Bill 57 “Financial Technology Sandbox” respectively.
6 days later on 18 January 2018, Wyoming introduced another bill that aims to clarify the legal position of digital assets, as well as offer digital asset custody through banks rather than financial institutions. This particular bill offers three classifications of digital assets; digital securities, digital assets, and most importantly, virtual currencies which give cryptocurrencies the same treatment as money within the state.
Following that on 23 January 2019, the Pennsylvania Department of Banking and Securities (DoBS) announced through a memo titled “Money Transmitter Act Guidance for Virtual Currency Businesses” stating that the Money Transmitter Act (MTA) did not apply to cryptocurrency exchanges, hence cryptocurrency exchanges in the state do not require Money Transmission Business Licenses.
On 28 January 2019, a bill recognizing the effectiveness of Distributed Ledger Technology (DLT) was applied to the Washington State Electronics Certification Act, hence making amendments to the “Purpose and Structure” and “Definition” portions of the bill and compiling the Digital Signatures and License Law to encourage the development of distributed ledgers and blockchain technology.
From all these, we can see that the United States has grown more accepting of blockchain technologies over the years. From subtle displays of support in 2016 to the concretization of firmer, pro-blockchain policies in 2019, the Americas has made their stand clear. Coupled with strict investigations enforced on Initial Coin Offerings (ICO), we can conclude that the US is ultimately a fairly neutral party when it comes to blockchain technology.

England

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In March 2018, the British government established a crypto assets taskforce comprising the Treasury, the Bank of England and the Financial Conduct Authority (FCA) to explore the risks and potential benefits of crypto assets and other applications of distributed ledger technology in financial services to assess if any regulation is required in response.
The taskforce also pointed out that the distributed ledger technology is one that will not only benefit industries beyond just financial services, and should not be restricted by excessive governmental regulations.
In response, the British government has taken the recent months to embark on initiatives that would spur the growth of cryptocurrency companies and projects within the United Kingdom. Currently, the British tax department is working on tax guidelines for individuals involved in cryptocurrency operations.
In short, while the British government has been in the backseat adopting a more cautious approach in the beginning, it is clear that they have learnt the long term benefits of the distributed ledger technology and just like the US, it has been working hard to catch up with the rest of the world in recent years.

Switzerland

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In 2015, the Swiss Financial Market Supervisory Authority (FINMA) released a report highlighting the risks that come with the Bitcoin’s ability to facilitate cross-border payments anonymously. The report further pointed out that this particular trait has provided opportunities for terrorist financing — an indication of Switzerland’s conservative stand when it comes to cryptocurrencies and its relevant technologies.
From 2016 onwards, the Swiss government made great efforts to formulate the most suitable blockchain regulatory policies for the country and together with the Federal Department of Finance, came up with a framework to regulate financial technology and digital currencies in Switzerland.
In February 2018, FINMA published an ICO guideline setting out how it intends to apply financial market legislation in handling enquiries from ICO organizers. Through this, the authority categorizes tokens into three types: Payment Tokens, Utility Tokens and Asset Tokens, hence allowing them to better assess each ICO based on the economic function and purpose of the tokens issued by the ICO organizer.
While switzerland started off with a more conservative approach in view of the money-laundering and terrorist-financing risks that comes with cryptocurrencies, it has never lost sight of the benefits its technology can bring to the economy. With stricter guidelines and regulations, Switzerland found a way to capitalize on the advantages of cryptocurrencies without compromising on national security.

Japan

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In 2017, the Japanese Financial Services Agency (FSA) defined cryptocurrencies as property values that are stored electronically on electronic devices and introduced the Fund Settlement Act which will regulate the Japanese cryptocurrency market. This was soon followed by further interest in blockchain-powered voting systems and banking payment platforms.
On 13 September 2018, the FSA banned trading between highly anonymous currencies and proposed a four-fold margin trading ration, which was later endorsed by the Japan Virtual Money Exchange Association (JVCEA), a self-regulatory organization of trading platforms in Japan. It also suggested further analysis of ICO-related rules.
Not long later on 26 September 2018, the FSA released its Financial Services Policy 2018 which stated that with regards to virtual currencies, there will be a tightening of registration screenings and monitoring, On 2 December of the same year, the government introduced new ICO policies to protect investors from fraud.
From what we have seen, the Japanese government is a clear supporter of cryptocurrencies and blockchain technology. It is one of the most active countries in ensuring the safe integration of digital currencies into its ecosystem, consistently conducting reviews and monitoring the market to protect its citizens. As such, here we are, once again, with another ally of the blockchain technology.
About 1SG: 1SG is a stable coin, issued by the Mars Blockchain Group which overcomes the problems of today’s cryptocurrencies, while providing open, transparent, efficient KYC/AML process. With the key features of stable value and high liquidity, Mars Blockchain is a start-up committed to becoming a leading stable coin in global cryptocurrency market. 1SG circumvents the volatility of other major cryptocurrencies by maintaining a fixed peg to $1 SGD through financial markets.
For more details, check out www.1.sg
For more information on 1SG, keep up with its following social media: Telegram: https://t.me/SGone Reddit: https://www.reddit.com/use1-SG/ Twitter: https://twitter.com/1SG_2018 Instagram: https://www.instagram.com/1sg_sg/ YouTube: https://www.youtube.com/channel/UC_p_8y1geOe0lmB4F3i6Fpg
To trade 1SG now, head over to these exchange platforms: P2PB2B: https://p2pb2b.io/ BitMart: https://www.bitmart.com/ TOP.ONE: https://top.one/index Kryptono: https://kryptono.exchange/k/home OEX: https://www.oex.com/index
submitted by 1-SG to 1SG_ [link] [comments]

KuBitX – The Crypto-Exchange For Emerging Markets

KuBitX has been developed not just as a trade engine but an engine for growth and development of the emerging markets assisting in financial inclusion, financial education and Blockchain adoption by the people. KuBitX has the potential to reach the emerging regions and educate the citizens with little or no access to Blockchain based services and adoption and offer multiple cryptos to fiat exchange and paring.
What is KuBitX?
DEVELOPED PROJECT. KuBitX is one of the most progressive and reliable cryptological currency commercial projects developed in a format that is very convenient for the client in order to give the possibility for people from all over the world to receive a stronghold of the conceptions orbiting the Blockchain and the cryptological area. It is developed to make transactions at twelve million bargains per second. In order to avoid exchange breakdown, developing more to market more rapidly
RELIABLE POCKETS. Set out in the KuBitX ecological system are the KuBitX Commercial engines, the reliable KuBitX pockets, and the developed Administrator control panel for regulating the activities within the Trade Exchange.
FOR CUSTOMERS AND VENDORS. By identifying even the most distant people for their integration into the cryptological currency marketplaces, the aim is to become the one of the wide variety of cryptological currency marketplaces for customers and vendors all over the world.
ENLIGHTENMENT. Developing marketplaces need more understanding about cryptological currencies. KuBitX enlightenment focus will bring more literacy rates in developing marketplaces within the field workshops. Nowadays in Africa, just four percents of the mainland participate in Crypto. KuBitX concentrated on heavy awareness campaigns that get inside developing marketplaces. There are ten huge developing marketplaces and economies all over the world.
LANGUAGE DIVERSITY. KuBitX determined that language barriers become a question for clients support, consequently - poor support service rating takes place. At KuBitX, the universal channel envoy program is going to provide that have local dialect existence in every state so that clients support practice can be enhanced and turn around time can be quicker for responsiveness.
QUICKER OPERATIONS PER SECOND (TPS) RAPIDITY. KuBitX is competing with universal competitors with actual interchanges doing about 1.4 million operations per second. KuBitX is developed to transact at twelve million operations per second. To prevent exchange breakdown, developing more to commerce more rapidly.
Main Features Trading fees will be paid using the KuBitX token. KuBitX token can be converted into fiat money or cryptocurrencies. New coin listing processes will be assessed by the platform in less than 24 hours. To guarantee users funds, 70% of the platform assets will be in a cold storage wallet. Trading fees (0.025%) 8 times cheaper than the current exchanges (around 0.2%). A professional team that has worked in the top Fortune 500 companies and one of the “big four” consulting firm.
Token Sale KuBitX is going to issue an established supply of 500,000,000 KuBitcoin (KBX) tokens which are based upon the ERC-20 standard. The causes to choose ERC-20 tokens are the modern awareness of the marketplace with such standard and the reliability of Ethereum Blockchain.
Ticker: KBX Token Type: ERC20 (Ethereum) Decimal: 18 Total Supply: 500,000,000 Currencies Accepted: ETH Soft Cap: 10.000 ETH Hard Cap: 25.000 ETH
TGE Details: Seed Round: Ongoing. Ends 16 July 2018. Pre-Public Round: 16 July - 31 August 2018 Public Round: TBC
Token Distribution
Private sale = 36%. Founders and Development Team = 23%. Investment fund = 20%. ICO = 16%. Advisors and Partners = 3%. Bounty = 2%.
Funds Usage
Liquidity = 30.0%. Technology = 15.0%. Promotion = 15.0%. Reserves = 15.0%. Operations = 12.5%. Legal = 7.5%. Partnership = 5%.
The Leading Team
Eric Annan – CEO, Co-Founder.
Domenic Thomas – CEO, FSP Division.
Amadeu Alexandre Filipe – Lead IT Operations, Co-Founder.
Victor Akoma-Philips – COO, Co-Founder.
submitted by oxana_fedorova to u/oxana_fedorova [link] [comments]

GHash.IO & double spending

Some of this data is from bitcointalk, I'll attribute the authors as I go

TL;DR:

Put on your thinking cap:

https://en.bitcoin.it/wiki/Getblocktemplate

"getblocktemplate moves block creation to the miner, while giving pools a way to set down the rules for participation. While pools can do just as much as they could before by expressing it in these rules, miners can not be kept in the dark and are enabled to freely choose what they participate in mining. This improves the security of the Bitcoin network by making blocks decentralized again."
A risk that is difficult to assess is whether the large mining pools validate coinbase tx content included by miners in their pool.
(To test, you "just" need to be the member of a pool who successfully solves a block; and also write a custom miner to include a specific coinbase tx that the pool did not ask you to provide. (Credit to bee7 here for this idea).
It's possible that the GHash.IO operators control (or are colluding with) a significant portion of the mining capacity of Elgius and Slush (I picked those two pools because of their abysmal orphan (luck) rate); This hypothesis is supported by the data in this post.
There are, of course, other very reasonable explanations for the "luck variance" observation:
...but there is also additional circumstantial evidence that GHash.IO have bad actors:

Credit to mmitech for this next bit of research:

In September I witnessed a lot of double-spending against BetCoin Dice. It happened between 25th and 27th Sept.
The mechanism was simple: send betcoin a tx with 0 fee, then wait for a result tx, if your bet is a win, then confirm your tx, otherwise double-spend it.
  1. Here I'll give you a bunch of transactions which you can examine. Note this is a chain of transactions, so just click on outputs to see. https://blockchain.info/tx/4d731074447f02609c3110a187f9c6976f2bf255288ec5666ee270f09679619d https://blockchain.info/tx/e0b44f68441ea0bad0f7694f735f496ce05238862534c6fea737b8903921185a The double-spending of losing bets was performed by someone mining to https://blockchain.info/address/1MA7CKbWMyKdPkmsbnwmfeLh1hYy5A3gy8 , you can check it yourself.
  2. I tracked coins down to the origin https://blockchain.info/tx/154ecb1eb72c933bc0707fa70deceb688361554ab81b901673d308aa84d9cfe9 The most interesting address here is 12PcHjajFJmDqz28yv4PEvBF4aJiFMuTFD It's been involved in similar actions, look at this chain of win-only tx's https://blockchain.info/tx/0c1a08d035862b01d075e8044b1e9ce52a8ad951b57d876a2a9a0e3502c41eb0 And the most interesting fact is that these zero-fee tx's inbetween winning ones were mined by ghash.io exclusively. Possibly this was a test attack.
  3. Going further, I found the address the earnings from attack were sent to: 12e8322A9YqPbGBzFU6zXqn7KuBEHrpAAv https://blockchain.info/tx/292e7354fbca1847f0cbdc87a7d62bc37e58e8b6fa773ef4846b959f28c42910 And then part of these funds (125 BTC) was sent to ghash.io's mining address: https://blockchain.info/tx/48168cf655d0ac0c7c2733288ca72e69ecd515a9a0ab2821087eb33deb7c6962
  4. Furthermore, I checked the funds mined to 1MA7CKbWMyKdPkmsbnwmfeLh1hYy5A3gy8 In these 2 succeeding tx's they were moved to 199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn https://blockchain.info/tx/e567ad6232de5285e0dc211d3f1c489b1e00e509118ba98a4825529d0a9197d9 https://blockchain.info/tx/faa7bc8b99376efa774045e79b42771fe668341b00290a61cd416992571c590d
This address is interesting, because it contains 6000 BTC and ~30% of funds come from ghash.io mining address. https://blockchain.info/taint/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn
  1. And the last thing to spot: GHash.io, being about 25% of network back then, didn't find a single block to its address between 25th and 27th of september! https://blockchain.info/address/1CjPR7Z5ZSyWk6WtXvSFgkptmpoi4UM9BC?offset=1350&filter=2
Ok smarties: Any other thoughts/theories/criticisms to these hypotheses? Post below if you're considering changing pools now.
2014-Jun-03 11:18PM PDT edit: Fixed formatting issues
2014-Jun-03 11:25PM PDT edit: Clarified negative effect in TL;DR
2014-Jun-04 01:40PM PDT edit: Clarified point about pool hopping
submitted by bullshbit to Bitcoin [link] [comments]

Great interview questions for bitcoin engineers

From here...
https://bitcointalk.org/index.php?topic=5006583.0
Questions. Chapter 1: Introduction 1. What are the main Bitcoin terms? 2. What is a Bitcoin address? 3. What is a Bitcoin transaction? 4. What is a Bitcoin block? 5. What is a Bitcoin blockchain? 6. What is a Bitcoin transaction ledger? 7. What is a Bitcoin system? What is a bitcoin (cryptocurrency)? How are they different? 8. What is a full Bitcoin stack? 9. What are two types of issues that digital money have to address? 10. What is a “double-spend” problem? 11. What is a distributed computing problem? What is the other name of this problem? 12. What is an election? 13. What is a consensus? 14. What is the name of the main algorithm that brings the bitcoin network to the consensus? 15. What are the different types of bitcoin clients? What is the difference between these clients? Which client offers the most flexibility? Which client offers the least flexibility? Which client is the most and least secure? 16. What is a bitcoin wallet? 17. What is a confirmed transaction and what is an unconfirmed transaction? Chapter 2: How Bitcoin works. 1. What is the best way to understand transactions in the Bitcoin network? 2. What is a transaction? What does it contain? What is the similarity of a transaction to a double entry ledger? What does input correspond to? What does output correspond to? 3. What are the typical transactions in the bitcoin network? Could you please name three of such transactions and give examples of each type of the transaction? 4. What is a QR and how it is used in the Bitcoin network? Are there different types of QRs? If so, what are the different types? Which type is more informational? What kind of information does it provide? 5. What is SPV? What does this procedure check and what type of clients of the Bitcoin network usually use this procedure? Chapter 3: The Bitcoin client. 1. How to download and install the Core Bitcoin client? 2. What is the best way to test the API available for the Core Bitcoin client without actually programming? What is the interface called? 3. What are the major areas of operations in the Bitcoin client? What can we do with the client? 4. What are the available operations for the Bitcoin addresses? 5. What are the available read operations for the Bitcoin transactions? How is a transaction encoded in the Bitcoin network? What is a raw transaction and what is a decoded transaction? 6. If I want to get information about a transaction that is not related to any address in my own wallet, do I need to change anything in the Bitcoin client configuration? If yes, which option do I need to modify? 7. What are the available read operation for the Bitcoin blocks? 8. What are the available operations for the creation of the transactions in the Bitcoin network? 9. How do you normally need to address the unspent output from the previous transaction in order to use it as an input for a new transaction? 10. What is the mandatory operation after creating a new transaction and before sending this new transaction to the network? What state does the wallet have to be in order to perform this operation? 11. Is the transaction ID immutable (TXID)? If not why, if yes, why and when? 12. What does signing a transaction mean? 13. What are the other options for Bitcoin clients? Are there any libraries that are written for some specific languages? What types of clients do these libraries implement? Chapter 4: Keys, Addresses and Wallets. 1. What is a PKC? When it was developed? What are the main mathematical foundations or functions that PKC is using? 2. What is ECC? Could you please provide the formula of the EC? What is the p and what is the Fp? What are the defined operations in ECC? What is a “point to infinity”? 3. What is a Bitcoin wallet? Does this wallet contain coins? If not, what does it contain then? 4. What is a BIP? What it is used for? 5. What is an encrypted private key? Why would we want to encrypt private keys? 6. What is a paper wallet? What kind of storage it is an example of? 7. What is a nondeterministic wallet? Is it a good wallet or a bad wallet? Could you justify? 8. What is a deterministic wallet? 9. What is an HD wallet? 10. How many keys are needed for one in and out transaction? What is a key pair? Which keys are in the key pair? 11. How many keys are stored in a wallet? 12. How does a public key gets created in Bitcoin? What is a “generator point”? 13. Could you please show on a picture how ECC multiplication is done? 14. How does a private key gets created in Bitcoin? What we should be aware of when creating a new private key? What is CSPRNG? What kind of input should this function be getting? 15. What is a WIF? What is WIF-Compressed? 16. What is Base58 encoding and what is Base58Check encoding? How it is different from Base64 encoding? Which characters are used in Base58? Why Base58Check was invented? What kind of problems does it solve? How is Base58Check encoding is created from Base58 encoding? 17. How can Bitcoin addresses be encoded? Which different encodings are used? Which key is used for the address creation? How is the address created? How this key is used and what is the used formula? 18. Can we visually distinguish between different keys in Base58Check format? If yes, how are they different from each other? What kind of prefixes are used? Could you please provide information about used prefixes for each type of the key? 19. What is an index in HD wallets? How many siblings can exist for a parent in an HD wallet? 20. What is the depth limitation for an HD wallet key hierarchy? 21. What are the main two advantages of an HD wallet comparing to the nondeterministic wallets? 22. What are the risks of non-hardened keys creation in an HD wallet? Could you please describe each of them? 23. What is a chain code in HD wallets? How many different chain code types there are? 24. What is the mnemonic code words? What are they used for? 25. What is a seed in an HD wallet? Is there any other name for it? 26. What is an extended key? How long is it and which parts does it consist of? 27. What is P2SH address? What function are P2SH addresses normally used for? Is that correct to call P2SH address a multi-sig address? Which BIP suggested using P2SH addresses? 28. What is a WIF-compressed private key? Is there such a thing as a compressed private key? Is there such a thing as a compressed public key? 29. What is a vanity address? 30. What is a vanity pool? 31. What is a P2PKH address? What is the prefix for the P2PKH address? 32. How does the owner prove that he is the real owner of some address? What does he have to represent to the network to prove the ownership? Why a perpetrator cannot copy this information and reuse it in the next transactions? 33. What is the rule for using funds that are secured by a cold storage wallet? How many times you can send to the address that is protected by the private key stored in a cold storage? How many times can you send funds from the address that is protected by the private key stored in a cold storage? Chapter 5: Transactions. 1. What is a transaction in Bitcoin? Why is it the most important operation in the Bitcoin ecosystem? 2. What is UTXO? What is one of the important rules of the UTXO? 3. Which language is used to write scripts in Bitcoin ecosystem? What are the features of this language? Which language does it look like? What are the limitations of this language? 4. What is the structure of a transaction? What does transaction consists of? 5. What are the standard transactions in Bitcoin? How many standard transactions there are (as of 2014)? 6. What is a “locking script” and what is an “unlocking script”? What is inside these scripts for a usual operation of P2PKH? What is a signature? Could you please describe in details how locking and unlocking scripts work and draw the necessary diagrams? 7. What is a transaction fee? What does the transaction fee depend on? 8. If you are manually creating transactions, what should you be very careful about? 9. Could you please provide a real life scenario when you might need a P2SH payment and operation? 10. What is the Script operation that is used to store in the blockchain some important data? Is it a good practice? Explain your answer. Chapter 6: The Bitcoin Network. 1. What is the network used in Bitcoin? What is it called? What is the abbreviation? What is the difference between this network architecture and the other network architectures? Could you please describe another network architecture and compare the Bitcoin network and the other network architectures? 2. What is a Bitcoin network? What is an extended Bitcoin network? What is the difference between those two networks? What are the other protocols used in the extended Bitcoin network? Why are these new protocols used? Can you give an example of one such protocol? What is it called? 3. What are the main functions of a bitcoin node? How many of them there are? Could you please name and describe each of them? Which functions are mandatory? 4. What is a full node in the Bitcoin network? What does it do and how does it differ from the other nodes? 5. What is a lightweight node in the Bitcoin network? What is another name of the lightweight node? How lightweight node checks transactions? 6. What are the main problems in the SPV process? What does SPV stand for? How does SPV work and what does it rely on? 7. What is a Sybil attack? 8. What is a transaction pool? Where are transaction pools stored in a Bitcoin network client? What are the two different transaction pools usually available in implementations? 9. What is the main Bitcoin client used in the network? What is the official name of the client and what is an unofficial name of this client? 10. What is UTXO pool? Do all clients keep this pool? Where is it stored? How does it differ from the transaction pools? 11. What is a Bloom filter? Why are Bloom filters used in the Bitcoin network? Were they originally used in the initial SW or were they introduced with a specific BIP? Chapter 7: The Blockchain. 1. What is a blockchain? 2. What is a block hash? Is it really a block hash or is it a hash of something else? 3. What is included in the block? What kind of information? 4. How many parents can one block have? 5. How many children can one block have? Is it a temporary or permanent state of the blockchain? What is the name of this state of the blockchain? 6. What is a Merkle tree? Why does Bitcoin network use Merkle trees? What is the advantage of using Merkle trees? What is the other name of the Merkle tree? What kind of form must this tree have? 7. How are blocks identified in the blockchain? What are the two commonly used identities? Are these identities stored in the blockchain? 8. What is the average size of one transaction? How many transactions are normally in one block? What is the size of a block header? 9. What kind of information do SPV nodes download? How much space do they save by that comparing to what they would need if they had to download the whole blockchain? 10. What is a usual representation of a blockchain? 11. What is a genesis block? Do clients download this block and if yes – where from? What is the number of the genesis block? 12. What is a Merkle root? What is a Merkle path? Chapter 8: Mining and Consensus. 1. What is the main purpose of mining? Is it to get the new coins for the miners? Alternatively, it is something else? Is mining the right or good term to describe the process? 2. What is PoW algorithm? 3. What are the two main incentives for miners to participate in the Bitcoin network? What is the current main incentive and will it be changed in the future? 4. Is the money supply in the Bitcoin network diminishing? If so, what is the diminishing rate? What was the original Bitcoin supply rate and how is it changed over time? Is the diminishing rate time related or rather block related? 5. What is the maximum number of Bitcoins available in the network after all the Bitcoins have been mined? When will all the Bitcoins be mined? 6. What is a decentralized consensus? What is a usual setup to clear transactions? What does a clearinghouse do? 7. What is deflationary money? Are they good or bad usually? What is the bad example of deflationary spiral? 8. What is an emergent consensus? What is the feature of emergent consensus? How does it differ from a usual consensus? What are the main processes out of which this emergent decentralized consensus becomes true? 9. Could you please describe the process of Independent Transaction Verification? What is the list of criteria that are checked against a newly received transaction? Where can these rules be checked? Can they be changed over time? If yes, why would they be changed? 10. Does mining node have to be a full node? If not, what are the other options for a node that is not full to be a mining node? 11. What is a candidate block? What types of nodes in the Bitcoin network create candidate blocks? What is a memory pool? Is there any other name of the memory pool? What are the transactions kept in this memory pool? 12. How are transactions added to the candidate block? How does a candidate block become a valid block? 13. What is the minimum value in the Bitcoin network? What is it called and what is the value? Are there any alternative names? 14. What is the age of the UTXO? 15. How is the priority of a transaction is calculated? What is the exact formula? What are the units of each contributing member? When is a transaction considered to be old? Can low priority transactions carry a zero fee? Will they be processed in this case? 16. How much size in each block is reserved for high priority transactions? How are transactions prioritized for the remaining space? 17. Do transactions expire in Bitcoin? Can transactions disappear in the Bitcoin network? If yes, could you please describe such scenario? 18. What is a generation transaction? Does it have another name? If it does, what is the other name of the transaction? What is the position of the generation transaction in the block? Does it have an input? Is the input usual UTXO? If not – what is the input called? How many outputs there are for the generation transaction? 19. What is the Coinbase data? What is it currently used for? 20. What is little-endian and big-endian formats? Could you please give an example of both? 21. How is the block header constructed? Which fields are calculated and added to the block header? Could you please describe the steps for calculation of the block header fields? 22. What is a mantissa-exponent encoding? How is this encoding used in the Bitcoin network? What is the difficulty target? What is the actual process of mining? What kind of mathematical calculation is executed to conduct mining? 23. Which hash function is used in the Bitcoin mining process? 24. Could you describe the PoW algorithm? What features of the hash function does it depend on? What is the other name of the hash function? What is a nonce? How can we increase the difficulty of the PoW calculation? What do we need to change and how do we need to change this parameter? 25. What is difficulty bits notation? Could you please describe in details how it works? What is the formula for the difficulty notation? 26. Why is difficulty adjustable? Who adjusts it and how exactly? Where is the adjustment made? On which node? How many blocks are taken into consideration to predict the next block issuance rate? What is the change limitation? Does the target difficulty depend on the number of transactions? 27. How is a new block propagated in the network? What kind of verification does each node do? What is the list of criteria for the new block? What kind of process ensures that the miners do not cheat? 28. How does a process of block assembly work? What are the sets of blocks each full node have? Could you please describe these sets of blocks? 29. What is a secondary chain? What does each node do to check this chain and perhaps to promote it to the primary chain? Could you please describe an example when a fork occurs and what happens? 30. How quickly forks are resolved most of the time? Within how many new block periods? 31. Why the next block is generated within 10 minutes from the previous? What is this compromise about? What do designers of the Bitcoin network thought about when implementing this rule? 32. What is a hashing race? How did Bitcoin hashing capacity has changed within years from inception? What kind of hardware devices were initially used and how did the HW utilization evolved? What kind of hardware is used now to do mining? How has the network difficulty improved? 33. What is the size of the field that stores nonce in the block header? What is the limitation and problem of the nonce? Why was an extra nonce created? Was there any intermediate solution? If yes, what was the solution? What are the limitations of the solution? 34. What is the exact solution for the extra nonce? Where does the new space come from? How much space is currently used and what is the range of the extra nonce now? 35. What is a mining pool? Why was it created? How are normally such pools operated? Do they pay regularly to the pool participants? Where are newly created Bitcoins distributed? To which address? How do mining pools make money? How do the mining pools calculate the participation? How are shares earned calculated? 36. What is a managed pool? How is the owner of the pool called? Do pool members need to run full nodes? Explain why or why not? 37. What are the most famous protocols used to coordinate pool activities? What is a block template? How is it used? 38. What is the limitation of a centralized pool? Is there any alternative? If yes, what is it? How is it called? How does it work? 39. What is a consensus attack? What is the main assumption of the Bitcoin network? What can be the targets of the consensus attacks? What can these attacks do and what they cannot do? How much overall capacity of the network do you have to control to exercise a consensus attack? Chapter 9: Alternative Chains, Currencies and Applications. 1. What is the name of alternative coins? Are they built on top of the Bitcoin network? What are examples of them? Is there any alternative approach? Could you please describe some alternatives? 2. Are there any alternatives to the PoW algorithm? If yes – what are the alternatives? Could you please name two or three? 3. What is the operation of the Script language that is used to store a metadata in Bitcoin blockchain? 4. What is a coloured coin? Could you please explain how it is created and how it works? Do you need any special SW to manage coloured coins? 5. What is the difference between alt coins and alt chains? What is a Litecoin? What are the major differences between the Bitcoin and Litecoin? Why so many alt coins have been created? What are they usually based on? 6. What is Scrypt? Where is it used and how is it different from the original algorithm from which it has been created? 7. What is a demurrage currency? Could you please give an example of one blockchain and crypto currency that is demurrage? 8. What is a good example of an alternative algorithm to PoW? What is it called and how is it different from the PoW? Why the alternatives to Bitcoin PoW have been created? What is the main reason for this? What is dual-purpose PoW algorithms? Why have they been created? 9. Is Bitcoin “anonymous” currency? Is it difficult to trace transactions and understand someone’s spending habits? 10. What is Ethereum? What kind of currency does it use? What is the difference from Bitcoin? Chapter 10: Bitcoin security. 1. What is the main approach of Bitcoin security? 2. What are two common mistakes made by newcomers to the world of Bitcoin? 3. What is a root of trust in traditional security settings? What is a root of trust in Bitcoin network? How should you assess security of your system? 4. What is a cold storage and paper wallet? 5. What is a hardware wallet? How is it better than storing private keys on your computer or your smart phone?
submitted by 5tu to BitcoinTechnology [link] [comments]

The intelligent investors guide to cryptocurrency: Part 5 - *Growth, Tribalism, Utility and Cryptocurrency:*

Introductions: I'm joskye. A cryptocurrency investor and particl holder.
...
 
Growth, Tribalism, Utility and Cryptocurrency:
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Growth:
 
You know the biggest benefit of decentralization is the introduction of automated, verifiable trustlessness into processes where a trusted 3rd party was previously required.
 
The whole point is that in removing the administrative need for a third party, you save time (via automated verification) and expense (to compensate the third party for their time).
Perhaps a bigger idea, an expansion of this is that governance can be decentralized and the layers that exist between decision makers from decisions being made is narrowed.
Yet it is funny that we are so tribalistic when it comes to the promotion of our and strategies and platforms that can achieve these aims.
 
One great irony of the cryptocurrency universe is that because the value of our speculative investments (our cryptocurrency tokens) is in so many ways dependent on adoption, we often think and conclude that this must come at the expense of success or growth in other projects including seemingly direct competitors in our space.
 
We often intrinsically feel or act or behave in a manner to suggest that cryptocurrency is a closed loop system; a narrow universe, a small box where there is no growth only shuffling of money from one asset to another.
And yet a quick glance at the marketcap for all cryptocurrencies combined shows that this is not the case. That cryptocurrency market cap has grown considerably; I'd argue at an exponential rate.
 
For example, the price of Bitcoin and it's associated market cap has grown massively through 2016 and 2017 even though it's total share of crypto-market cap has fallen considerably.
 
The market cap of Bitcoin in January 2016 was $6.5 billion. As of July 2017 the market cap is $45 billion!
 
Meanwhile in this time the total market cap of all cryptocurrency has grown from $7 billion to $90 billion
And to make this important the share of market cap of Bitcoin has fallen from 90% to 47%!
...
 
So what's the point of this?
 
 
Given that accessibility to cryptocurrencies is constantly improving and is the major bottleneck to new waves of investors and traders coming on board I would argue that we have a lot of growth still to come.
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Tribalism:
 
And yet when I browse the dailies on ethtrader, bitcoinmarkets, btc, why do I see so many posters slagging off other crypto projects, even one's that may contribute or benefit the ecosystem of technologies they have holdings in?
 
Granted a lot of the times I see genuine criticism of projects or technologies that are highlighted, often genuine scams are brought to my attention and legitimate causes for concern in some tokens are raised with eloquently delivered and balanced arguments to defend the posters point of view.
 
Often though I simply see down vote brigades or nasty comments for posters who mention their tokens (likewise I often see people post their predictions of which tokens will pump without explaining why).
 
The worst instance though is when I see the board and development teams of other projects actively spread misinformation and promote and actively perpetuate a climate of mistrust or harbor an openly derogatory attitude towards other projects.
 
...
 
For example very recently I received an unsolicited direct message into my reddit account from a user I've had no previous communications with asking me to donate my Ether to a particular ICO whose project I won't name. Suffice to say I found it very insulting that this message and the articles it had linked to were saying derogatory and deliberately mis-informative things about projects that represent potential competitors in their field of product services.
 
Similarly I've read accusations that the teams actively devote resources to paying people to troll and discredit promoters of potential rival projects (that's just sad people) and top level representatives of large established cryptocurrencies openly speak lies or attempt to spread fear, uncertainty and doubt about projects they may see as rivals.
 
Unfortunately all these actions are in bad faith and speak to the poor integrity of these individuals and depending on their level of involvement may reflect poorly on their preferred project as well.
 
When I consider the amount of growth that has occurred in and been the dominant theme of cryptocurrency these last 4 years, I realize that this level of tribalism speaks to the small mindedness of others, to the intellectual laziness of others and to the total ignorance of the macro-economic factors and historic contexts that have taught us that with any paradigm shifting idea (in this case distributed ledger technology and it's role in furthering the decentralization of services) that there will be many winners and that it is the projects that bring utility and adoption to these ideas that will be the biggest winners.
 
Adopting a holistic, synergistic, utilitarian approach to cryptocurrencies in the end is what will lead to mass adoption, mass growth and genuine non-speculative use of distributed ledger technology which will benefit the majority of early adopters maximally.
 
...
 
Taking a maximalist approach or the idea that there can be only one distributed ledger technology or blockchain to rule them all is a fallacy. Believing that a given niche of applications (currency, smart contracts, marketplaces, DSN's etc) can only be occupied appropriately and adequately by only one product is the fallacy of maximalism. As we have seen historically for any given field of governance or technology, where money is to be made there is always at least 2 or 3 distinct competitors each occupying their own sub-niche and serving their own dedicated audience.
 
Tribalism is fine if it doesn't stop you thinking about the bigger picture or assessing it broadly. Tribalism can give you a sense of worth, a sense of belonging, community, accomplishment and standing the more respected and representative you are of the tribe you associate to. It should not however get in the way of an objective assessment or commentary of other tribes and the technologies, cultures and ideas they represent.
 
In the worst instance tribalism represents the self interested and preservative behavior of an individual to protect their own assets and tribe to the detriment of the ecosystem as a whole. I see that all too often in cryptocurrency and even though it is an understandable part of human nature, in investments I see it as a red flag when such attitudes and behaviors are directed by top level executives or marketing managers for specific products, industries or technologies.
 
...
 
To me such behavior reeks of insecurity when the criticisms relayed are done emotionally not rationally, when the critique lacks substance and is delivered in a manner designed to intentionally divide and denigrate. For such a young ecosystem as cryptocurrency, such behavior is short sighted. It demonstrates a complete lack of macroeconomic insight from these sorts of preachers.
In reality cryptocurrencies can grow synergistically (i.e. together in a manner that is helpful towards each other) and they can grow both independently and interdependently of each other.
 
A look back at growth in detail confirms this. Now lets look at how encouraging utility can be both harmonious with tribalism and diversity whilst encouraging growth.
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Utility:
 
We want the technologies we are invested in to be successful because we know if they are, their value will grow as will the value of our proportionate stake in this. To this end I encourage you to talk about your holdings. There is nothing wrong with being tribalistic about your own holdings as long as you are respectful, inquisitive, objective and appropriately critical of alternatives. I discuss various things to look for in my ongoing intelligent investors guide to cryptocurrency series but among them I value non-speculative utility highly.
 
I believe if your holdings bring non-speculative utility to this field and ideally encourages non-speculative fiat spending (i.e. people spending their dollars, pounds etc for services provided by blockchain technologies) then they will have the road map to long term success potentially laid out for them.
Furthermore sometimes having several iterations of a technology type is actually beneficial to the technology itself and the ecosystem as a whole.
 
...
 
For example open fund asset management platforms such Melonport, Iconomi and TaaS should not be thought of as competing with each other. They should be thought of as three different projects with three different resource pools, three separate marketing budgets with three separate ways of promoting their product to the same global audience. If anything even though they provide the same end-point of service (index funds and managed portfolios for cryptocurrencies and tokenized assets) they are effectively acting as fail safes for each other; should one not succeed the competitors will have an opportunity to study why and adapt accordingly and hopefully for future success.
 
Conversely the success of one fund management platform will bring more fiat into the cryptocurrency ecosystem which will should then cause an average rise of the price of individual cryptocurrency tokens which means the value of other fund management platforms should also rise in value. Thus several iterations of the service can be beneficial to the ecosystem both in failure and success.
 
...
 
Another example is decentralized marketplaces. There are 3 major projects can come to mind; Particl (PART), Syscoin (Sys) and OpenBazaar. They all aim to bring utility to cryptocurrency by providing a means through which real world physical goods and services can be purchased and distributed solely through the use of cryptocurrency tokens. OpenBazaar currently accepts Bitcoin, Syscoin conducts it's transactions via it's native SYS token but also accepts Bitcoin (BTC) and Zcash (ZEC), whilst Particl will use integrated shapeshift to automatically convert all shapeshift compatible tokens (currently 67 as of writing) into the native PART token for transacting on the network.
 
 
I also believe the inbuilt anonymity features of the PART token (CT, Ring CT enabling optional anonymisation of public transactions) and it's marketplace (availability of private listings which can only be accessed through knowledge of the private key, a trustless 3rd party free escrow system referred to as "MAD escrow") will provide additional incentives to transact specifically through the Particl network. I also believe that since PARTICL is verified through proof of stake with a percentage of transaction fee's going towards those verifying the Particl via staking will provide community driven incentives to promote the network which do not exist in OpenBazaar or exist as strongly in Syscoin (whose token appreciation correlation to increasing use effect I feel is diluted through the option to avoid transacting via the SYS token altogether).
 
That said OpenBazaar is already established and has a working decentralized marketplace where you can actively trade. Similarly Syscoin has already released it's public beta in 2016 and includes anonymity via zcash payments. In contrast Particl has yet to release their proposed platform in Beta and this is where the main point of criticism lays; that it won't be done. Acknowledging that Syscoin has a polished presentation, a history of development and is forming corporate partnerships (e.g. Microsoft Azure for deployment of the Syscoin API) and representation are strengths that bring legitimacy to the cryptocurrency ecosystem which will ease the minds of potential consumers both corporate and private.
 
I believe that marketplaces that accept multiple cryptocurrencies will bring utility and important, non-speculative intrinsic value to the cryptocurrencies they utilize. This non-speculative instrinsic value is essential and vital to the long term growth and acceptance of those supported cryptocurrencies.
 
Decentralized marketplaces (particularly those with anonymity) can further democratize trade and make the exchange of goods more accessible to people regardless of regional restrictions due to local governance. This is an additional benefit of such projects in the (still largely unexplored) cryptocurrency ecosystem which will help drive growth of the entire cryptocurrency market cap as a whole.
 
Systems like those in Particl and Syscoin can provide significant value to BTC, ZEC and a host of other cryptocurrencies indirectly and as such if you have any interest in seeing cryptocurrency as a whole succeed in replacing or sitting aside traditional fiat mechanisms you should be supportive of them.
 
Each decentralised marketplace will cater to different demographics of the global community, have different promotional strategies, different partnerships and ultimately different areas of reach and adoption. Their very existence and development is good for the cryptocurrency ecosystem and helps us to remain tribalistic (which is really a way of preserving mental focus) and supportive of the cryptocurrencies and token technologies we are interested in whilst giving them grounds to indirectly grow.
 
...
 
The third example I want to look at today is smart switch/contract platforms: The rapid success of Ethereum (ETH) has inspired the development of multiple other distributed ledgers aiming improve or solve problems identified in current solutions (namely speed, scalability and governance). Some of these technologies provide a unique approach to smart switch/contract execution or network verification e.g. IOTA, LISK, ANS and EoS whilst some aim to fix existing problems from the ground up e.g. NEM and TEZOS. Although the cynic in me is inclined to say that some of these projects represent cash grabs rather than genuinely intentioned attempts to improve on an existing product or idea, they ultimately bring greater attention to this space.
 
I suspect that although there will be one large player the the smart contract field and that although presently it appears to be Ethereum, this does not mean that several other systems will not find their audience, niche or adoption. To this end their is room for organic growth and adoption in these technologies; even though rabid fans and corporate/technical representatives of their platform will be inclined to say their platform is the best or the only one that matters, on a global outlook that will simply not be true; solutions will continue to evolve and the demographic, adoption and consumption patterns will continue to change leading to periodic shifts in dominance.
 
Perhaps more importantly each product will have different teams composed of different individuals; each individual will have their own composite psyche and thus their own unique approach to the same underlying common problems concerning product growth, development, promotion and adoption. These individuals will also have their own limitations and depending on the overall team skill set and the interpersonal factors that favor success will hopefully override the limitations on an individual level that can err towards failure. What is important though is that each team attracts people and provided the organization is there to utilize their skills and experience properly, then the product they work on will gain traction, advocacy and adoption with resultant growth and success. Ultimately it is these interpersonal factors and ability to understand and attract an audience that determine the success of a project in the long term.
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Conclusions:
Different products providing the same type of service can reach different demographics in different parts of the world and even if only one succeeds, it still means that access to the entire cryptocurrency market has been improved which means more money flowing in which means the price of assets you hold is likely to go up. Why? Because the increased number of new entrants means someone is more likely to buy something you hold.
 
And remember if one fails, the others can still succeed. Selective, intelligent diversification within a product type is a useful strategy to hedge for maximal gains whilst minimizing risks.
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References:
1. Market capitalizations of all cryptocurrencies: https://coinmarketcap.com/charts/ 2. Market capitalization of gold: http://onlygold.com/Info/All-The-Gold-In-The-World.asp 3. Open Bazaar (website): https://www.openbazaar.org/ 4. Syscoin (website): http://syscoin.org/ 5. Syscoin whitepaper: http://whitepaper.syscoin.org/ 6. Particl (website): https://particl.io/ 7. Particl whitepaper: https://github.com/particl/whitepapeblob/mastedecentralized-private-marketplace-draft-0.1.pdf 
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Further articles in this series:
 
"The intelligent investors guide to cryptocurrency"
 
Part 0 -
Part 1 -
Part 2 -
Part 3a -
Part 3b -
Part 4 -
Part 5 -
Part 6 -
Part 7a -
 
"The intelligent investors guide to Particl -"
 
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Full disclosure/Disclaimer: At time of original writing I had long positions in Ethereum (ETH), Particl (PART), ICONOMI (ICN), Augur (REP), Factom (FCT), Swarm City (SWT), Renos (RNS), Wetrust (TRST). All the opinions expressed are my own. I cannot guarantee gains; losses are sustainable; do your own financial research and make your decisions responsibly. All prices and values given are as of time of first writing (4th-May-2017).
 
Second disclaimer: Please do not buy Shadowcash (SDC), the project has been abandoned by it's developers who have moved on to the Particl Project (PART) (www.particl.io). The PARTICL crowd fund and SDC 1:1 token swap completed April 15th. You can still exchange SDC for PART but only if it was acquired prior to 15th April 2017 see: https://particl.news/a-community-driven-initiative-e26724100c3a for more information.
 
Addendum: Article updated 23-11-2017 to edit references to SDC (changed to Particl where relevant to reflect updated status) and clean up formatting.
submitted by joskye to Particl [link] [comments]

MI044: Bitcoin, COVID-19, and Macroeconomics for Beginners Part 1 with Pomp MI045: Bitcoin, COVID-19, and Macroeconomics for Beginners Part 2 with Pomp Crypto Market Assessment - YouTube How to Earn Bitcoin Fast and Easy 2020 Learn how to setup your blockchain node

assessments, developers and educational designers have to avoid glitches within the . what we want to do, the functionality of the Bitcoin Blockchain continues to be su cient. The traditional classroom model has been the poster child of education and learning for several years. But with the adoption of technology, school learning is about to change.Education technology is a global phenomenon whose digital spend is projected to hit $342 billion by 2025. Also, it could emerge as the most profitable digitized sector in the world, at least going by the recent list of Blockchain-based applications and its platforms such as Bitcoin, Ethereum and Hyperledger are introduced in this course. Blockchain Technology gives importance to the concept of digital transactions. It is an Online and Classroom training course which is the future of the Industrial revolution. Blockchain is the core technology used to create the cryptocurrencies, like bitcoin. As part of the fourth industrial revolution since the invention of steam engine, electricity, and information The problem with most blockchain use case discussions is the persistent drift to monetary conceptualization. It’s not just bitcoin. If we think more abstractly, earned value can be obtained in managing a distributed CMDB in GRC use cases for InfoSec compliance in multiple supplier scenarios.

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MI044: Bitcoin, COVID-19, and Macroeconomics for Beginners Part 1 with Pomp

TIP302: Investing During COVID-19 & Intrinsic Value Assessment of Intuitive Surgical w/ Arif Karim - Duration: 1:04:28. The Investor's Podcast Network 952 views 1:04:28 YOcoin based on the Ethereum Blockchain is Bitcoin 2.0 This is the Future of Cryptocurrency... Sign up and purchase YOcoin at the secure link below. www.YOcoinEX.org or www.YOcoinUSA.org Feel free ... Jack Ma LIVE - Blockchain & Exchange, Finance, Investments 2020 and the Future of BTC Jack Ma 8,323 watching Live now # 1 MS Project 2019 Basics in 20 Minutes Easy - Duration: 29:37. 2020, foldapp, knowledgebase, knowledge base, how to get free bitcoin 2019, how to get free bitcoin on blockchain, earn money with aiza, how to get free btc, free bitcoin website, unconfirmed ... At Zubi, we take students on a journey that educates, transforms, and empowers them to apply exponential technologies and a growth mindset towards the world. Z.Talks is an initiative by Zubi ...

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