Ethereum Classic is an open, decentralized, and permissionless public blockchain, that aims to fulfill the original promise of Ethereum, as a platform where smart contracts are free from third-party interference. ETC prioritizes trust-minimization, network security, and integrity. All network upgrades are non-contentious with the aim to fix critical issues or to add value with newly proposed features; never to create new tokens, or to bail out flawed smart contracts and their interest groups.
@binance: #Binance is excited to announce the launch of Binance Pool, offering Proof of Work (PoW) and Proof of Stake (PoS) services for a variety of coins and tokens. Binance Pool’s first product offering will be #Bitcoin mining, using a FPPS payment method. https://t.co/PBIJQkixWY
@cz_binance: Facebook should accept $BTC (and $BNB of course) alone side $Libra in the WhatsApp, Messenger, Facebook, and Instagram apps. "Can't and must not work" won't be possible for bitcoin. It's already working. https://t.co/oe6M22whM9
@binance: RT @TrustWalletApp: ⚛️ Atomic swaps might be the holy grail for blockchain⛓ interoperability and cross-chain trading. Find out about what communities like #Bitcoin, @litecoin, @KomodoPlatform and @decredproject are already working on and more @BinanceAcademy🔑 https://t.co/4qWYsUDjr8
First of all,please upvote for visibility + more opinions- this concernsall of us. Also, if you're stupid enough to think you'll get away with avoiding tax's despite KYC'ing to Coinbase & Binance don't bother commenting. News flash! you're gonna end up paying that tax in the long run + huge fines eating into your gains (or even putting you into debt). Anyways... I started investing in 2017. As a noob I did what most people did, chased multiple shitcoins, bought and sold various different pumps getting wrecked along the way. Then towards the end of the year, my portfolio increased significantly... but I DIDN'T sell - so I didn't "crystalise" any gainz. (I sold a couple hundred here and there during hard financial times, but I'm guessing nothing close to the free capital gains allowance). Fast forward just over 2 years, since then I've been buying BTC/ETH/XMR on a consistent basis. It's getting to the point where if I were to sell enough of my stack, I'd owe tax as it'd be over the "allowed" CGT threshold. That leads me to my question... how the fuck are you supposed to calculate capital gains tax when it comes to crypto? For the past 3 years I've traded in and out of alt-coins on multiple exchanges (some of which don't even exist anymore). It would be easy if it was just FIAT IN vs FIAT OUT, but the fact that CRYPTO to CRYPTO is considered taxable just makes it a nightmare! On top of that I did some freelance work (paid in BTC) which adds to the complexity. Take another example of what confuses me: Say I bought 1BTC on Coinbase in 2017, then 1BTC on Kraken in 2018, then 0.5BTC on Coinbase again in 2019, and hold them all in the same wallet. Then if I were to sell 0.5BTC in 2020, what Bitcoin was actually sold? Half of the 1 BTC bought in 2017? Is it FIFO? I genuinely don't know where to start and need help. I don't want to be in a shitty situation (for example some massive 2017-esque bull run happens just before the end of the tax year and I decide to cash out and have 3 days to sort shit out). I want to be prepared. I've come across services such as https://www.cointracker.io/ /https://bitcoin.tax/ etc but feel really hesitant to give quasi-unknown companies full read access to my wallet addresses, portfolio amount, personal email address etc. Privacy is key in the crypto space and I don't want another attack vector especially after seeing much more established companies such as Ledger fucking up (idiots) and losing my personal data. What do I do? I've even thought of selling EVERYTHING to FIAT and immediately buying it all back and taking whatever fine comes my way on the chin just so I can clearly track crypto transactions and not have to stress about it. If anyone has experience with crypto tax's please share any information that may be valuable to me/all the many others that are in the same situation as me. TL;DR: Bought loads of Bitcoin and Shitcoins throughout the past 3 years, finally starting to total up to an amount that'd be taxable if I sold a chunk - dafuq do I do regarding Taxes?
Working app that will gain traction through the following weeks and will be used globally. A project with a purpose and a token with actual utility
They are a burning machine, just burned 120 ETH from NFT’s pre-sale and going to burn more today after another 100 ETH NFT’s sales
Just 600 holders at the moment, wait till this hits hard on Crypto Twitter and when this gets listed on Binance. When exchanges like Binance come, it will be even possible to see 10,000 holders, imagine the kind of price that we will have by then
All the purchases made within the app will be get burned, as well as the NFT’s sales. (22,5000$ of PTERIA got bought at market price and burned + another one for 23,000$. Next NFT’s will be sold for +50,000$ or more, as they grant revenue to NFT’s holders based on revenues of the Wallem app, NFT’s are not just a collectionable)
PewDiePie shills Wallem &amp;gt; More Users &amp;gt; More demand for PTERIA to join events &amp;gt; PTERIA goes up
I first heard about bitcoin from way back when my friend was using it to purchase weed, then i watched it for a good year or 2 before its big move mid to late 2016 when literally everyone was talking about it (even the IT guy that visits about once a year mentioned it and my 50 year old boss was suddenly very interested). I never intended to buy any crypto until i seen an article on yahoo about IOTA, how it addressed all of bitcoins problems and how it was rising in value fast. This got me excited because i thought i’d missed the boat with bitcoin from a huge growth potential point of view but a new better coin grabbed my attention and interested me from a greed perspective. I quickly sold IOTA when i heard their wallet didn’t work and found XRB (someone was shilling it on twitter when i searched for IOTA). There i bought it at approx $1 and have watched it all the way up and all the way back down. Through bitgrail, rebranding, Binance, bear market, improvements, i’ve watched it. Im not even mid 20’s yet and i’m either spending my Nano when its buying me a house or i’m not selling all of my stack until i’m retiring off it. Anyhow back to the point, i first invested in crypto because i knew of all the problems of bitcoin and found an article on a credible website promoting an alternative. We need to start reaching out to those writing articles and suggesting they look into Nano. Trust me articles that display a new crypto that will make people rich are clickbait gold so writers are incentivised to write about Nano. I was trying to find the video where Nano is demonstrated when purchasing (i think it was coffee) on youtube and i cant find it. We need to get a stockpile of videos like that on youtube so when people google nano the top result is real life use. We need to actually try to get Nano mentioned where normal people will read it because Bitcoin isn’t the solution to payments Nano is.
A word of caution about exchanges, privacy and your permanent history on the blockchain
I had an account restricted on a major exchange this year and it's not a pleasant experience. Just wanted to share my experience, since I see so many have been through something similar in several exchange-related subreddits. My case happened at Bittrex but I think it's important to note that this may happen on any exchange, not just Bittrex. People are depositing way too much trust in these exchanges and it may come back to bite them. Here's my experience as honestly as I'm able to put it. Bittrex is technically great, contrary to what many say the system just works. Works great in fact, fast and very few glitches in many many years. I think I must've been a very early customer back when things were very informal and until 2020 I had absolutely zero problems with Bittrex. I always thought they were above the pack when it came to system security design and reliability. Despite joining when it was very early, I did full KYC and had the top tier withdrawal limit even though KYC wasn't obligatory back when I joined. I did it all formally because I wanted to have a sort of bank account I could trust, I didn't want to be jumping from exchange to exchange like some crypto traders did. I never used as much as 0.01% of this withdrawal limit, I'm small fish but it was nice to know I could move tons of BTC like the whales if I ever needed to. So I sent them all my real data, work address and so forth. Then Bittrex got moved out of USA and into some country, don't know where. Which was fine by me, I thought it was the same people behind it, doing some formality. Then one day a person with a drawing for a profile pic and some strange username decides to contact me out of nowhere using the Bittrex tech support interface. They know everything about me, but I don't know anything about them. No contact info visible, nothing. This support person sends you a statement you must sign and then based on that they begin to ask for specific documents. I wanted to keep my relationship with Bittrex, so I filled signed and returned it. Then they dived into each item in the thing requesting more documents based on each. So if you said you previously worked for ACME, they'll ask to see ACME related stuff. I said I bought Bitcoin using Bank X, so they wanted to see Bank X statements. And so on. They begin to dig into each specific item you inform. Then it downed on me that maybe I was under some formal audit, in which case I'd have the right to know so I could hire an accountant or lawyer. So I politely asked. They don't tell you anything. You don't even know who the person is on the other side, there is no identification at all of who's contacting you. You're sending all your personal informations to someone who, as far as you know, could be a cat or a dog typing on a random keyboard. So I then asked them why so much detail was needed, since I'd provided lots already. They ignore and just say thank you for your cooperation and proceded to ask for more stuff. I said fine let's do this and went along. Then they asked for specific crypto addresses for the tokens I'd used in the past. Like the address of whoever sent me some XXXX token years ago. I then thought hey man this is too much, do you need me to fax or mail you my ID or something, I'd do it but whatever I enter in there could spell trouble for me. For example, if some guy whose ETH address did something nasty, but coincidentally paid me years ago using that same address, if I gave them my address from the past, in those several years it could mean this person is now a wanted criminal and it'd spell trouble for me, who knows what the person did afterwards, then my account would be forever linked to that rogue address. I began to reflect on this and thought wait, this is not good, I could put myself into a 'bad address' database for no reason. Then I told them I would not send the crypto addresses. They said thanks let's continue the process. It felt weird overall, it just keeps going and demanding more information. I then asked for someone to speak to or somewhere physical I could go to, to talk and show that I'm a real person, they never reply anything, they just ask for more. So I finally gave up and stopped replying and they apparently restricted my account or something. I'll have to go back and reopen the ticket and request account reactivation but then they'll probably restart the same process again. I'm not really that much of a fan of crypto these days, so I'm thinking maybe it's time to call it quits. The reason I'm writing this is to let everyone know that whatever you do in crypto gets forever linked to you. You begin thinking it's some informal thing and that there's some freedom but there really isn't. You may fool around with crypto but then someone is recording everything and will demand you make everything formal in the future. When I joined Bittrex everything was more informal in crypto, even shapeshift and others allowed you to trade crypto with no ID at all, 100% anonymous. Heck even faucets gave out free Bitcoin back in the day. Then all of a sudden everything you do in these exchanges will be audited and you'll need to provide formal documents for everything you did in the past 10 years. Some anonymous operator (this isn't specific to Bittrex, all of them do it that way) with no office has all your info but you know nothing about them in return. You don't even know where these exchanges are located at all. I saw a Facebook post about Binance not even having a formal country, they're "all over t he place". Sure that sounds cool but...who do you turn to when they demand legal stuff from you? Someone out there has all your financial information but you have nothing, you have no security, no legal protection, nothing and they have everything. So, be careful. This isn't all specific to Bittrex, any exchange can and probably will do the same. Point is crypto is a formal thing and will spell trouble for you in the future. Especially since blockchain analysis is way too primitive still, your addresses could somehow end up in a bad neightborhood. The pandemic kinda reminded me of blockchain transactions, you may end up infected because you have no way to know what others have been doing while you were doing everything right.
How is your passive income from Crypto going in 2020? So far I have made around $11k plus from approximately 13 or so sources. Details below.
I remember in 2017 there were epic stories of people making fortunes from free crypto-giveaways – for example, the nano faucet gave people fantastic wealth if they held on all year. Then there were things like the various bitcoin forks – great if you cashed in. Now in 2020 there seems to be another uptrend in terms of the ability to get “free crypto” – in various ways. Overtime this can build up to quite a lot. This year I have:
Coinbase earn – I’ve done almost all of these and have had a few referrals. I think I earned maybe $200 or so all up, cashed in BTC, and that BTC is probably around $400
Reddit moons – I have earned 3100 moons, sold for roughly $220
Uniswap – My free 400 tokens are still held, so they are worth maybe $1200
Binance Coin – lots of staking and lottery compensation payments here – for example, I recently sold my Flamingo, Venus and Alpha tokens – maybe $30;
Hex – Yes I know it’s a scam, but I think I bit have a decent little payout in a month when my 90% locked tokens open (won’t say how much as that will reveal my BTC wallet holdings);
Swissborg – A fun little “guess the bitcoin app” that has $50 worth of tokens in it now;
Brave Browser – I’ve earned like $20 from that this year (insert: “Its not much but its honest work gif”);
Uniswap Pools etc – Hard to calculate this one but I’m earning some really great fees and Uni from pooling WBTC and WETH – about 0.5% return a week. Was also previously staking Uni / ETH - I made $1000 in fees but mostly gobbled up by impermanent loss.
Honeyswap – Every 48 hours, I log-in to get free honey from the faucet – around $40 or so;
Survey – I did a phone survey for a local project and got given $100 of free tokens;
Livepeer – No idea what this is but I sold two airdrops for around $20;
Nexus Mutual – Probably the king here. Invested $1200 worth. Received a 58% dividend on the first day of staking (say $700) which I reinvested. That $700 is now $8000 or something ridiculous (and itself earning rewards), plus another 13 NXM (So another $416 on top).
And then lots of rats and mice rewards from things like staking Celsius, staking Tezos referral rewards etc. I even have 3000 of that damn Pi coin thing but don’t know where that is going.
And to top it off a free ledger nano for participation in a private group on FB
(EDIT: I forgot to mention I am currently winning a "pick four" crypto competition that I entered in January where you pick four cryptos and the winner takes the pot. I picked BTC, FTX, SNX and CEL - so that might be another $200 to add to my collection!)
So in all, that is an entire bitcoin just for doing a bunch of crazy stuff. Who said it was difficult to join the 21 million club? So for some people that might be considered a decent pay package for a full time job! What other opportunities do you guys have where you have passive income coming from crypto? Am I missing any obvious ones here?
Weekly update. 437 BTC were traded using LocalBitcoin last week,trading Bs. /BTC and BTC/Bs. (Bolivares, Venezuelan "official" currency, ISO VES). These 437 BTC were 1,852,000,000,000 Bs. One BTC is around 4,600,000,000 Bs. Monthly minimum wage is less 2 USD. PhD uni professor earns 4 USD monthly.
Ultimate glossary of crypto currency terms, acronyms and abbreviations
Cosmos is a heterogeneous network of many independent parallel blockchains, each powered by classical BFT consensus algorithms like Tendermint. Developers can easily build custom application specific blockchains, called Zones, through the Cosmos SDK framework. These Zones connect to Hubs, which are specifically designed to connect zones together. The vision of Cosmos is to have thousands of Zones and Hubs that are Interoperable through the Inter-Blockchain Communication Protocol (IBC). Cosmos can also connect to other systems through peg zones, which are specifically designed zones that each are custom made to interact with another ecosystem such as Ethereum and Bitcoin. Cosmos does not use Sharding with each Zone and Hub being sovereign with their own validator set. For a more in-depth look at Cosmos and provide more reference to points made in this article, please see my three part series — Part One, Part Two, Part Three (There's a youtube video with a quick video overview of Cosmos on the medium article - https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b)
Polkadot is a heterogeneous blockchain protocol that connects multiple specialised blockchains into one unified network. It achieves scalability through a sharding infrastructure with multiple blockchains running in parallel, called parachains, that connect to a central chain called the Relay Chain. Developers can easily build custom application specific parachains through the Substrate development framework. The relay chain validates the state transition of connected parachains, providing shared state across the entire ecosystem. If the Relay Chain must revert for any reason, then all of the parachains would also revert. This is to ensure that the validity of the entire system can persist, and no individual part is corruptible. The shared state makes it so that the trust assumptions when using parachains are only those of the Relay Chain validator set, and no other. Interoperability is enabled between parachains through Cross-Chain Message Passing (XCMP) protocol and is also possible to connect to other systems through bridges, which are specifically designed parachains or parathreads that each are custom made to interact with another ecosystem such as Ethereum and Bitcoin. The hope is to have 100 parachains connect to the relay chain. For a more in-depth look at Polkadot and provide more reference to points made in this article, please see my three part series — Part One, Part Two, Part Three (There's a youtube video with a quick video overview of Polkadot on the medium article - https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b)
Avalanche is a platform of platforms, ultimately consisting of thousands of subnets to form a heterogeneous interoperable network of many blockchains, that takes advantage of the revolutionary Avalanche Consensus protocols to provide a secure, globally distributed, interoperable and trustless framework offering unprecedented decentralisation whilst being able to comply with regulatory requirements. Avalanche allows anyone to create their own tailor-made application specific blockchains, supporting multiple custom virtual machines such as EVM and WASM and written in popular languages like Go (with others coming in the future) rather than lightly used, poorly-understood languages like Solidity. This virtual machine can then be deployed on a custom blockchain network, called a subnet, which consist of a dynamic set of validators working together to achieve consensus on the state of a set of many blockchains where complex rulesets can be configured to meet regulatory compliance. Avalanche was built with serving financial markets in mind. It has native support for easily creating and trading digital smart assets with complex custom rule sets that define how the asset is handled and traded to ensure regulatory compliance can be met. Interoperability is enabled between blockchains within a subnet as well as between subnets. Like Cosmos and Polkadot, Avalanche is also able to connect to other systems through bridges, through custom virtual machines made to interact with another ecosystem such as Ethereum and Bitcoin. For a more in-depth look at Avalanche and provide more reference to points made in this article, please see here and here (There's a youtube video with a quick video overview of Avalanche on the medium article - https://medium.com/ava-hub/comparison-between-avalanche-cosmos-and-polkadot-a2a98f46c03b)
Comparison between Cosmos, Polkadot and Avalanche
A frequent question I see being asked is how Cosmos, Polkadot and Avalanche compare? Whilst there are similarities there are also a lot of differences. This article is not intended to be an extensive in-depth list, but rather an overview based on some of the criteria that I feel are most important. For a more in-depth view I recommend reading the articles for each of the projects linked above and coming to your own conclusions. I want to stress that it’s not a case of one platform being the killer of all other platforms, far from it. There won’t be one platform to rule them all, and too often the tribalism has plagued this space. Blockchains are going to completely revolutionise most industries and have a profound effect on the world we know today. It’s still very early in this space with most adoption limited to speculation and trading mainly due to the limitations of Blockchain and current iteration of Ethereum, which all three of these platforms hope to address. For those who just want a quick summary see the image at the bottom of the article. With that said let’s have a look
Each Zone and Hub in Cosmos is capable of up to around 1000 transactions per second with bandwidth being the bottleneck in consensus. Cosmos aims to have thousands of Zones and Hubs all connected through IBC. There is no limit on the number of Zones / Hubs that can be created
Parachains in Polkadot are also capable of up to around 1500 transactions per second. A portion of the parachain slots on the Relay Chain will be designated as part of the parathread pool, the performance of a parachain is split between many parathreads offering lower performance and compete amongst themselves in a per-block auction to have their transactions included in the next relay chain block. The number of parachains is limited by the number of validators on the relay chain, they hope to be able to achieve 100 parachains.
Avalanche is capable of around 4500 transactions per second per subnet, this is based on modest hardware requirements to ensure maximum decentralisation of just 2 CPU cores and 4 GB of Memory and with a validator size of over 2,000 nodes. Performance is CPU-bound and if higher performance is required then more specialised subnets can be created with higher minimum requirements to be able to achieve 10,000 tps+ in a subnet. Avalanche aims to have thousands of subnets (each with multiple virtual machines / blockchains) all interoperable with each other. There is no limit on the number of Subnets that can be created.
All three platforms offer vastly superior performance to the likes of Bitcoin and Ethereum 1.0. Avalanche with its higher transactions per second, no limit on the number of subnets / blockchains that can be created and the consensus can scale to potentially millions of validators all participating in consensus scores ✅✅✅. Polkadot claims to offer more tps than cosmos, but is limited to the number of parachains (around 100) whereas with Cosmos there is no limit on the number of hubs / zones that can be created. Cosmos is limited to a fairly small validator size of around 200 before performance degrades whereas Polkadot hopes to be able to reach 1000 validators in the relay chain (albeit only a small number of validators are assigned to each parachain). Thus Cosmos and Polkadot scores ✅✅ https://preview.redd.it/2o0brllyvpq51.png?width=1000&format=png&auto=webp&s=8f62bb696ecaafcf6184da005d5fe0129d504518
Tendermint consensus is limited to around 200 validators before performance starts to degrade. Whilst there is the Cosmos Hub it is one of many hubs in the network and there is no central hub or limit on the number of zones / hubs that can be created.
Polkadot has 1000 validators in the relay chain and these are split up into a small number that validate each parachain (minimum of 14). The relay chain is a central point of failure as all parachains connect to it and the number of parachains is limited depending on the number of validators (they hope to achieve 100 parachains). Due to the limited number of parachain slots available, significant sums of DOT will need to be purchased to win an auction to lease the slot for up to 24 months at a time. Thus likely to lead to only those with enough funds to secure a parachain slot. Parathreads are however an alternative for those that require less and more varied performance for those that can’t secure a parachain slot.
Avalanche consensus scan scale to tens of thousands of validators, even potentially millions of validators all participating in consensus through repeated sub-sampling. The more validators, the faster the network becomes as the load is split between them. There are modest hardware requirements so anyone can run a node and there is no limit on the number of subnets / virtual machines that can be created.
Avalanche offers unparalleled decentralisation using its revolutionary consensus protocols that can scale to millions of validators all participating in consensus at the same time. There is no limit to the number of subnets and virtual machines that can be created, and they can be created by anyone for a small fee, it scores ✅✅✅. Cosmos is limited to 200 validators but no limit on the number of zones / hubs that can be created, which anyone can create and scores ✅✅. Polkadot hopes to accommodate 1000 validators in the relay chain (albeit these are split amongst each of the parachains). The number of parachains is limited and maybe cost prohibitive for many and the relay chain is a ultimately a single point of failure. Whilst definitely not saying it’s centralised and it is more decentralised than many others, just in comparison between the three, it scores ✅ https://preview.redd.it/ckfamee0wpq51.png?width=1000&format=png&auto=webp&s=c4355f145d821fabf7785e238dbc96a5f5ce2846
Tendermint consensus used in Cosmos reaches finality within 6 seconds. Cosmos consists of many Zones and Hubs that connect to each other. Communication between 2 zones could pass through many hubs along the way, thus also can contribute to latency times depending on the path taken as explained in part two of the articles on Cosmos. It doesn’t need to wait for an extended period of time with risk of rollbacks.
Polkadot provides a Hybrid consensus protocol consisting of Block producing protocol, BABE, and then a finality gadget called GRANDPA that works to agree on a chain, out of many possible forks, by following some simpler fork choice rule. Rather than voting on every block, instead it reaches agreements on chains. As soon as more than 2/3 of validators attest to a chain containing a certain block, all blocks leading up to that one are finalized at once. If an invalid block is detected after it has been finalised then the relay chain would need to be reverted along with every parachain. This is particularly important when connecting to external blockchains as those don’t share the state of the relay chain and thus can’t be rolled back. The longer the time period, the more secure the network is, as there is more time for additional checks to be performed and reported but at the expense of finality. Finality is reached within 60 seconds between parachains but for external ecosystems like Ethereum their state obviously can’t be rolled back like a parachain and so finality will need to be much longer (60 minutes was suggested in the whitepaper) and discussed in more detail in part three
Avalanche consensus achieves finality within 3 seconds, with most happening sub 1 second, immutable and completely irreversible. Any subnet can connect directly to another without having to go through multiple hops and any VM can talk to another VM within the same subnet as well as external subnets. It doesn’t need to wait for an extended period of time with risk of rollbacks.
With regards to performance far too much emphasis is just put on tps as a metric, the other equally important metric, if not more important with regards to finance is latency. Throughput measures the amount of data at any given time that it can handle whereas latency is the amount of time it takes to perform an action. It’s pointless saying you can process more transactions per second than VISA when it takes 60 seconds for a transaction to complete. Low latency also greatly increases general usability and customer satisfaction, nowadays everyone expects card payments, online payments to happen instantly. Avalanche achieves the best results scoring ✅✅✅, Cosmos with comes in second with 6 second finality ✅✅ and Polkadot with 60 second finality (which may be 60 minutes for external blockchains) scores ✅ https://preview.redd.it/kzup5x42wpq51.png?width=1000&format=png&auto=webp&s=320eb4c25dc4fc0f443a7a2f7ff09567871648cd
Every Zone and Hub in Cosmos has their own validator set and different trust assumptions. Cosmos are researching a shared security model where a Hub can validate the state of connected zones for a fee but not released yet. Once available this will make shared security optional rather than mandatory.
Shared Security is mandatory with Polkadot which uses a Shared State infrastructure between the Relay Chain and all of the connected parachains. If the Relay Chain must revert for any reason, then all of the parachains would also revert. Every parachain makes the same trust assumptions, and as such the relay chain validates state transition and enables seamless interoperability between them. In return for this benefit, they have to purchase DOT and win an auction for one of the available parachain slots. However, parachains can’t just rely on the relay chain for their security, they will also need to implement censorship resistance measures and utilise proof of work / proof of stake for each parachain as well as discussed in part three, thus parachains can’t just rely on the security of the relay chain, they need to ensure sybil resistance mechanisms using POW and POS are implemented on the parachain as well.
A subnet in Avalanche consists of a dynamic set of validators working together to achieve consensus on the state of a set of many blockchains where complex rulesets can be configured to meet regulatory compliance. So unlike in Cosmos where each zone / hub has their own validators, A subnet can validate a single or many virtual machines / blockchains with a single validator set. Shared security is optional
Shared security is mandatory in polkadot and a key design decision in its infrastructure. The relay chain validates the state transition of all connected parachains and thus scores ✅✅✅. Subnets in Avalanche can validate state of either a single or many virtual machines. Each subnet can have their own token and shares a validator set, where complex rulesets can be configured to meet regulatory compliance. It scores ✅ ✅. Every Zone and Hub in cosmos has their own validator set / token but research is underway to have the hub validate the state transition of connected zones, but as this is still early in the research phase scores ✅ for now. https://preview.redd.it/pbgyk3o3wpq51.png?width=1000&format=png&auto=webp&s=61c18e12932a250f5633c40633810d0f64520575
The Cosmos project started in 2016 with an ICO held in April 2017. There are currently around 50 projects building on the Cosmos SDK with a full list can be seen here and filtering for Cosmos SDK . Not all of the projects will necessarily connect using native cosmos sdk and IBC and some have forked parts of the Cosmos SDK and utilise the tendermint consensus such as Binance Chain but have said they will connect in the future.
The Polkadot project started in 2016 with an ICO held in October 2017. There are currently around 70 projects building on Substrate and a full list can be seen here and filtering for Substrate Based. Like with Cosmos not all projects built using substrate will necessarily connect to Polkadot and parachains or parathreads aren’t currently implemented in either the Live or Test network (Kusama) as of the time of this writing.
Avalanche in comparison started much later with Ava Labs being founded in 2018. Avalanche held it’s ICO in July 2020. Due to lot shorter time it has been in development, the number of projects confirmed are smaller with around 14 projects currently building on Avalanche. Due to the customisability of the platform though, many virtual machines can be used within a subnet making the process incredibly easy to port projects over. As an example, it will launch with the Ethereum Virtual Machine which enables byte for byte compatibility and all the tooling like Metamask, Truffle etc. will work, so projects can easily move over to benefit from the performance, decentralisation and low gas fees offered. In the future Cosmos and Substrate virtual machines could be implemented on Avalanche.
Whilst it’s still early for all 3 projects (and the entire blockchain space as a whole), there is currently more projects confirmed to be building on Cosmos and Polkadot, mostly due to their longer time in development. Whilst Cosmos has fewer projects, zones are implemented compared to Polkadot which doesn’t currently have parachains. IBC to connect zones and hubs together is due to launch Q2 2021, thus both score ✅✅✅. Avalanche has been in development for a lot shorter time period, but is launching with an impressive feature set right from the start with ability to create subnets, VMs, assets, NFTs, permissioned and permissionless blockchains, cross chain atomic swaps within a subnet, smart contracts, bridge to Ethereum etc. Applications can easily port over from other platforms and use all the existing tooling such as Metamask / Truffle etc but benefit from the performance, decentralisation and low gas fees offered. Currently though just based on the number of projects in comparison it scores ✅. https://preview.redd.it/4zpi6s85wpq51.png?width=1000&format=png&auto=webp&s=e91ade1a86a5d50f4976f3b23a46e9287b08e373
Cosmos enables permissioned and permissionless zones which can connect to each other with the ability to have full control over who validates the blockchain. For permissionless zones each zone / hub can have their own token and they are in control who validates.
With polkadot the state transition is performed by a small randomly selected assigned group of validators from the relay chain plus with the possibility that state is rolled back if an invalid transaction of any of the other parachains is found. This may pose a problem for enterprises that need complete control over who performs validation for regulatory reasons. In addition due to the limited number of parachain slots available Enterprises would have to acquire and lock up large amounts of a highly volatile asset (DOT) and have the possibility that they are outbid in future auctions and find they no longer can have their parachain validated and parathreads don’t provide the guaranteed performance requirements for the application to function.
Avalanche enables permissioned and permissionless subnets and complex rulesets can be configured to meet regulatory compliance. For example a subnet can be created where its mandatory that all validators are from a certain legal jurisdiction, or they hold a specific license and regulated by the SEC etc. Subnets are also able to scale to tens of thousands of validators, and even potentially millions of nodes, all participating in consensus so every enterprise can run their own node rather than only a small amount. Enterprises don’t have to hold large amounts of a highly volatile asset, but instead pay a fee in AVAX for the creation of the subnets and blockchains which is burnt.
Avalanche provides the customisability to run private permissioned blockchains as well as permissionless where the enterprise is in control over who validates the blockchain, with the ability to use complex rulesets to meet regulatory compliance, thus scores ✅✅✅. Cosmos is also able to run permissioned and permissionless zones / hubs so enterprises have full control over who validates a blockchain and scores ✅✅. Polkadot requires locking up large amounts of a highly volatile asset with the possibility of being outbid by competitors and being unable to run the application if the guaranteed performance is required and having to migrate away. The relay chain validates the state transition and can roll back the parachain should an invalid block be detected on another parachain, thus scores ✅. https://preview.redd.it/li5jy6u6wpq51.png?width=1000&format=png&auto=webp&s=e2a95f1f88e5efbcf9e23c789ae0f002c8eb73fc
Cosmos will connect Hubs and Zones together through its IBC protocol (due to release in Q1 2020). Connecting to blockchains outside of the Cosmos ecosystem would either require the connected blockchain to fork their code to implement IBC or more likely a custom “Peg Zone” will be created specific to work with a particular blockchain it’s trying to bridge to such as Ethereum etc. Each Zone and Hub has different trust levels and connectivity between 2 zones can have different trust depending on which path it takes (this is discussed more in this article). Finality time is low at 6 seconds, but depending on the number of hops, this can increase significantly.
Polkadot’s shared state means each parachain that connects shares the same trust assumptions, of the relay chain validators and that if one blockchain needs to be reverted, all of them will need to be reverted. Interoperability is enabled between parachains through Cross-Chain Message Passing (XCMP) protocol and is also possible to connect to other systems through bridges, which are specifically designed parachains or parathreads that each are custom made to interact with another ecosystem such as Ethereum and Bitcoin. Finality time between parachains is around 60 seconds, but longer will be needed (initial figures of 60 minutes in the whitepaper) for connecting to external blockchains. Thus limiting the appeal of connecting two external ecosystems together through Polkadot. Polkadot is also limited in the number of Parachain slots available, thus limiting the amount of blockchains that can be bridged. Parathreads could be used for lower performance bridges, but the speed of future blockchains is only going to increase.
A subnet can validate multiple virtual machines / blockchains and all blockchains within a subnet share the same trust assumptions / validator set, enabling cross chain interoperability. Interoperability is also possible between any other subnet, with the hope Avalanche will consist of thousands of subnets. Each subnet may have a different trust level, but as the primary network consists of all validators then this can be used as a source of trust if required. As Avalanche supports many virtual machines, bridges to other ecosystems are created by running the connected virtual machine. There will be an Ethereum bridge using the EVM shortly after mainnet. Finality time is much faster at sub 3 seconds (with most happening under 1 second) with no chance of rolling back so more appealing when connecting to external blockchains.
All 3 systems are able to perform interoperability within their ecosystem and transfer assets as well as data, as well as use bridges to connect to external blockchains. Cosmos has different trust levels between its zones and hubs and can create issues depending on which path it takes and additional latency added. Polkadot provides the same trust assumptions for all connected parachains but has long finality and limited number of parachain slots available. Avalanche provides the same trust assumptions for all blockchains within a subnet, and different trust levels between subnets. However due to the primary network consisting of all validators it can be used for trust. Avalanche also has a much faster finality time with no limitation on the number of blockchains / subnets / bridges that can be created. Overall all three blockchains excel with interoperability within their ecosystem and each score ✅✅. https://preview.redd.it/ai0bkbq8wpq51.png?width=1000&format=png&auto=webp&s=3e85ee6a3c4670f388ccea00b0c906c3fb51e415
The ATOM token is the native token for the Cosmos Hub. It is commonly mistaken by people that think it’s the token used throughout the cosmos ecosystem, whereas it’s just used for one of many hubs in Cosmos, each with their own token. Currently ATOM has little utility as IBC isn’t released and has no connections to other zones / hubs. Once IBC is released zones may prefer to connect to a different hub instead and so ATOM is not used. ATOM isn’t a fixed capped supply token and supply will continuously increase with a yearly inflation of around 10% depending on the % staked. The current market cap for ATOM as of the time of this writing is $1 Billion with 203 million circulating supply. Rewards can be earnt through staking to offset the dilution caused by inflation. Delegators can also get slashed and lose a portion of their ATOM should the validator misbehave.
Polkadot’s native token is DOT and it’s used to secure the Relay Chain. Each parachain needs to acquire sufficient DOT to win an auction on an available parachain lease period of up to 24 months at a time. Parathreads have a fixed fee for registration that would realistically be much lower than the cost of acquiring a parachain slot and compete with other parathreads in a per-block auction to have their transactions included in the next relay chain block. DOT isn’t a fixed capped supply token and supply will continuously increase with a yearly inflation of around 10% depending on the % staked. The current market cap for DOT as of the time of this writing is $4.4 Billion with 852 million circulating supply. Delegators can also get slashed and lose their DOT (potentially 100% of their DOT for serious attacks) should the validator misbehave.
AVAX is the native token for the primary network in Avalanche. Every validator of any subnet also has to validate the primary network and stake a minimum of 2000 AVAX. There is no limit to the number of validators like other consensus methods then this can cater for tens of thousands even potentially millions of validators. As every validator validates the primary network, this can be a source of trust for interoperability between subnets as well as connecting to other ecosystems, thus increasing amount of transaction fees of AVAX. There is no slashing in Avalanche, so there is no risk to lose your AVAX when selecting a validator, instead rewards earnt for staking can be slashed should the validator misbehave. Because Avalanche doesn’t have direct slashing, it is technically possible for someone to both stake AND deliver tokens for something like a flash loan, under the invariant that all tokens that are staked are returned, thus being able to make profit with staked tokens outside of staking itself. There will also be a separate subnet for Athereum which is a ‘spoon,’ or friendly fork, of Ethereum, which benefits from the Avalanche consensus protocol and applications in the Ethereum ecosystem. It’s native token ATH will be airdropped to ETH holders as well as potentially AVAX holders as well. This can be done for other blockchains as well. Transaction fees on the primary network for all 3 of the blockchains as well as subscription fees for creating a subnet and blockchain are paid in AVAX and are burnt, creating deflationary pressure. AVAX is a fixed capped supply of 720 million tokens, creating scarcity rather than an unlimited supply which continuously increase of tokens at a compounded rate each year like others. Initially there will be 360 tokens minted at Mainnet with vesting periods between 1 and 10 years, with tokens gradually unlocking each quarter. The Circulating supply is 24.5 million AVAX with tokens gradually released each quater. The current market cap of AVAX is around $100 million.
The FCA bans on Bitcoin and other crypto assets are too harsh and hypocritical.
I as a British citizen and Im concerned about the recent Bitcoin ban. Reasons why:
You can be scammed out on Forex trading due to high leverage, online con artists and platforms shutting down forex trading altogether.
Plus 500 stopped trading the USA/CNH trading pair after the trade war was declared by trump.
Gambling has no regulations, I can spend as much money as possible on any game or sport and no questions are asked.
A uni student committed suicide last year after being groomed by gambling companies to spend over 20k in one week. No action was taken.
Platforms such as plus 500 offer options that have high spreads, hidden leverage, doesn't track the asset price and can be shut down and can be manupliated by the platform at will.
Plus 500 regulary increase the spread of options such as gold, oil, stocks during trading days and also shut down trading on a daily basis. Plus 500 shut down Natural gas options for 12hrs due to a 6% slump.
The UK is one of the biggest money laundering and predatory finance trading countries in the world.
The requirements to be a pro trader are insane: ( you need 2/3)
you need experience working in finance.
500k trading captail
Or make 12+ large trades in the past year.
Ironically using Binance and Coinbase for trading has been safer for me compared to uk stock/forex trading apps. In summary the reasons above HAPPEN ALL THE TIME AND NOTHING IS BEING DONE TO STOP THESE THINGS FROM HAPPENING. But Bitcoin and cryptocurrencey as a whole are seen as evil even though they have been profitable for the majority of their existence.
Usually, bull markets attract a lot of new investors - although speculators should be the right word here - and as usual, a lot of them are going to be crushed a way or another. First, before putting a single dollar, euro or whatever in the market, you should read a lot to know exactly what you're looking for. Are you here for the tech and/or the cypherpunk ethos ? Great, there's lot of resources out there (my links are cleaned but as always, do your due diligence) :
The Bitcoin Whitepaper, the one and only : bitcoin.org/bitcoin.pdf Since I'm linking to bitcoin.org, friendly reminder to avoid bitcoin.com, owned by a former supporter now con-artist Roger Ver.
Andreas Antonopoulos website : https://aantonop.com Andreas is one of best guys able to educate on bitcoin and its properties, for free, which helps.
Jameson Lopp website : lopp.net Jameson is a member of Bitcoin Core, cypherpunk, also able to educate a lot. His website is full of free resources and other links. You'll have a lot to read.
Hal Finney : he's unfortunately dead but I would advise to read about Hal Finney, the first to receive bitcoin Satoshi. A great cryptographer, the inventor of the first reusable PoW and one of the first bitcoin supporters. You'll be able to find his messages on this old forum Bitcoin Talk, by the way you'll be able to find the first chats about bitcoin on this forum bitcointalk.org
Monero website : getmonero.org Yep, I know it's gonna be controversial to post an altcoin link but personally, I think that Monero (aka XMR) is the only other coin with a big cypherpunk community, decentralized, and able to help newcomers with a great sense of responsibility, since the ethos here is to save privacy.
What Bitcoin Did : of course, Peter is controversial but I love him and I find his former blog and his podcasts very needed because he doesn't oversell himself. Pete knows that he's not a tech guy (like many of us) and just wants to spread the word, I think he does a good job with this.
Now, you've read and you want to put some skin in the game. Several exchanges are acceptable, a lot of aren't, be careful and assume that none really are (know that I won't post any ref links) :
to me, the best, although it's UI is quite old : Kraken €/$/pound/swiss franc on-off ramp
Coinbase and Coinbase Pro Difficult not to mention Coinbase, although I can't stand Brian Armstrong and the way they are doing their best to support scams currently. You should rather use Coinbase Pro if you have to since the fees are much lower.
Binance Binance came later than the previous ones but has managed to take most of the market. Now, you should remember what I said about being careful.
Huobi The biggest chinese exchange and they work closely with chinese official. Again, careful.
Bittrex Once at the top, now somewhere in the limbs.
A lot of new comers came recently like btse, ftx, feel free to try them while always keeping in mind that once your money is on exchanges, it's not yours anymore.
This was for centralized exchanges aka CEX. Talking about custodial, you'll need wallets to store your (bit)coins. Always try to use non-custodial wallets, which means wallets that give you your private keys. This way, if the software goes down, you can always retreive your money. Now, I won't link to all the existing wallets but will advise you to buy hardware wallets (trezor or ledger but there are others) or to create (on off-gap computers) paper wallets you're able to store safely (against all risks, not only robbery but housefire). You also could use your memory with brain wallets but, my gosh, I wouldn't trust myself. For Bitcoin (or even Litecoin), Electrum software can do a good job (but save your keys). AGAIN, DON'T KEEP YOUR SAVINGS ON AN EXCHANGE Now, about trading : it's been repeated and repeated but don't chase pumps and altcoins. Yep, it's probably the fastest way to make money. It's also the fastest to lose it. I won't lie : I made good money during the 2017-bullrun and I took profits but I also forgot to sell some shitcoins thinking it would keep going up, now I'm still holding these bags (although I don't really care). I know that a lot forgot to take profits. Take profits, always take profits, whatever your strategy is. Don't fall for people trying to sell you their bags, for ICOs trying to sell you a product which isn't released yet and obviously, don't fall for people asking for your private key. Also, know that there's two endgames : accumulating bitcoin or fiat. I'm rather in the first team but whatever your strategy is, take profits. (Yes, I know, some will say accumulating ethereum or something else). It's true that a lot of ethereum holders made a lot of money during the last bullrun (ethereum helped me make money too) but I'm really biased in favor of bitcoin (and monero). So, pick your coin but again, do your due diligence. A lot of people here or there will talk about the best tech, the fact that bitcoin is old and slow. I would need another post to go further on this point but know that a lof of air flight systems are old too but reliable. Trustless and reliable is the point here. This is the post from someone who bought bitcoin seven or six years ago, who lost part of them, who spent part of them (but don't regret this at all), who is still learning and I hope it will help others, although it would need a book to be complete.
What is the best way of selling a trading algorithm?
I created a trading algorithm which I want to sell. Its not scam, which usually people say when you want to sell it instead of keep it to urself. I dont really understand why except of being sceptical, correct me if im wrong. I want to know what kind of money making strategies are the best for selling my trading algorithm.
Payments for running my algorithm
Server 1, for my website.
Server 2, for my algorithm. (for security and performance its better to keeps these 2 seperate.)
Maybe some other payments I dont know yet that I have to pay for.
These payments are usually monthly or yearly payments.
Earnings that could be invested into the payments above
A part time job with an average salary of around 1k a month.
Me investing money into my own bot. I could withdraw a specific percentage after each profit trade. Balanced just right so I still raise in money thats inside my bot and do not get just 5 cents out of the withdraw.
These are earnings I could use to invest when im at the startup period. Since I would probably not earn enough money in this period with as good as no users at all.
Money earned from people that invested into my bot (algorithm).
This is the earning I want to use when im **not** in the **startup period**.
These are the strategies I am thinking of:
Starting is free, trades made by my bot (algorithm) have trading fee's from, for example, binance. And withdraw costs are 10% where, for example, 1% goes to binance and 9% to me. Pros:
New users might think its pretty cheap, they would lose nothing then already free earned money. the algoritm made $50 into $500 for them and they only lose 10% of it. Which would be $450 left with a $50 loss from that $500. This could result into more users, meaning more money invested in my bot.
If a user puts $1000 into my bot and keeps it running for 10 years with an average profit of 100% per year they would end up with 1 million. If users actually keep there money for this long without any withdraw I would basicly not earn any money from them till the last 10th year. If I do not have enough users that do withdraw in time it could result in being bankrupt...
I am not so sure if I can even make this strategy possible. Since the accounts are from an exchange like Binance I dont know if I can make sure an user can only withdraw at my website, so I can make sure I receive that 10% (-1% to binance, so 9%). If an user could login into there account and withdraw on the binance website I ofcourse can't receive that 10% so easily.
Inactive users. Users who lost there account or are not using it for any other reason. I would never receive any money from these type of users.
My opinion I would like to use this strat mostly because of my first pros. I told some real life people what I am creating and they where all saying that if it was only 10% they would for sure do it. These where people that never traded before and some of them I even had to explain what bitcoin was... This is ofcourse not my target audience but I would totally not mind if they would invest in me. Everyone was new to trading at some point and maybe I can be the trigger for them to start getting into it (or better said, getting into me :D ).
Starting is free, each trade made by my algorithm, buy or sell, will cost the user, for example, 0.5% of the amount. Where the withdraw costs are 0, exept for the costs that binance asks. Pros
I would earn **ALOT** more money the early states and would be able to pay off the servers or even upgrade them way fasteearlyer. This removes the risk of getting bankrupt at some point by not earning enough.
I would 100% sure be able to receive money from users, there would be no way (as far as I know) that users could bypass the costs. Which in strategy #1 may be possible.
Inactive users would not matter.
As good as all other websites that sell there algorithm's have this way of selling. I Belive being unique can work in case of getting extra users. They might think im different then these "scammers" if I use strategy #1.
Users might feel like they lose alot of money if they would start doing alot of calculations. And in the long term, they will ofcourse lose more money. Which is good for me but bad for them. This could result into losing users or getting less "new/starting" users.
My opinion This is definitly a secure/safe option. Especially in the early states. Maybe I could use this in the early states and use strategy #1 after the startup period (for only new users). But this could make everything very complicated.
Starting will cost, for example, $500. Trading fee's are free, exept for the one's from binance. And the same for withdrawing. Pros
I would for sure earn from each user and will be able to pay off my server's costs. But only if im actually popular.
New users would not buy or try my algorithm because it might be to expensive.
New users would not buy or try my algorithm because they could think its fake and do not want to take the risk.
People who are not experienced in trading or in investing would probably never start using my algorithm. Since I told some of those kind of people about this project I know this is true.
I would only earn once and only a set amount which would not make me really that rich... :D
My opinion It has more cons then pros which in my opinion means this is just a bad strategy.
What I want
I would like to know what u guys think is the best strategy and especially why. I would like it if someone has actually some tested results in what people would probably like the most and what would "sell" the best. If someone knows a 4th strategy or even more then I would like to know. But only the best strategy I would use and which one that is is what I want to know. NOTE! These pros and cons are NOT directly some actual facts or have never been seriously TESTED by me so if one of these are actually wrong, im sorry.
Dragonchain Great Reddit Scaling Bake-Off Public Proposal
Dragonchain Public Proposal TL;DR:
Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and postsper Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625. Watch Joe walk through the entire proposal and answer questions onYouTube. This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!
I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale. For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube. We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoC
In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks. 24 hours in 4 minutes (YouTube): 24 hours in 4 minutes The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period. Tooling to reproduce our demo is available here: https://github.com/dragonchain/spirit-bomb
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired. Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity. TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block. TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain. With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times. We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment. Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in Scaling
Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems. We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
LBRY - To allow users to deploy content natively to LBRY
MakerDAO to allow users to lend small amounts backed by their Reddit community points.
STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction. Dragonchain Fees Table
How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node. Getting started is easy...
Download Dragonchain’s dctl
Input three commands into a terminal
Build an image
More information can be found in our Get started documents.
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain. Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain. After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks. Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD. For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments. Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users. Over a 5 day period, your scaling PoC should be able to handle: *100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes. Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum. Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
Operational on-premises capabilities
Operational deployment to any datacenter
Over 700 independent Community Verification Nodes with proof of ownership
Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node. Examples:
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users. All of Reddit's Transactions on Blockchain (month) Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees. Reddit Internal Token Transaction Fees Reddit Ethereum Token Transaction Fees When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
In a combination of the above, customers could cover aggregated fees.
Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.
Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here. Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here. In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here. A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible APIs should be well documented and stable
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected. Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR. Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus points Public, third-party implementation review available or in progress
Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).
Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open Source
The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group. https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html
In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney. Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
Obtain VP support and approval for the release
Verify ownership of the software to be released
Verify that no proprietary content would be released
Convince the organization that there was a value to the open source community
Convince the organization that there was a value to Disney
Offer the plan for ongoing maintenance of the project outside of Disney
Itemize competing projects
Verify no conflict of interest
Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
Obtain legal approval
Approval from corporate, parks, and other business units
Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
Trademark searches conducted for the selected name Dragonchain
Obtain IT security approval
Manual review of OSS components conducted
OWASP Dependency and Vulnerability Check Conducted
Obtain technical (software) approval
Offer management, process, and financial plans for the maintenance of the project.
Meet list of items to be addressed before release
Remove all Disney project references and scripts
Create a public distribution list for email communications
Remove Roets’ direct and internal contact information
Create public Slack channel and move from Disney slack channels
Create proper labels for issue tracking
Rename internal private Github repository
Add informative description to Github page
Expand README.md with more specific information
Add information beyond current “Blockchains are Magic”
Add getting started sections and info on cloning/forking the project
Add installation details
Add uninstall process
Add unit, functional, and integration test information
Detail how to contribute and get involved
Describe the git workflow that the project will use
Move to public, non-Disney git repository (Github or Bitbucket)
Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney. The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release. Original OSSRELASE-10 document
Hulk.Finance: A Combination of DeFi and High Frequency Trading
DeFi continues to push the limits of blockchain technology. Whether its staking a native token for a second token from the same ecosystem, locking liquidity for an eternity to promote liquidity providing and the benefits of locking tokens, or simply creating new tokenomics that can be tested and studied, DeFi is exploring all avenues to produce the next breakout token such as YFI. Hulk.finance has stepped in to do just that. Hulk.finance(Contract Address:0xE1f8CD01aB04b51d02C6fb2BCA61B03fB5e33B99**)** is an ERC20 token which plans to utilize a DAO (Decentralized Autonomous Organization) format that will be community governed in order to promote high frequency trading in a manner only DeFi can bring to the table. As stated on their website, “Our project connects a high-yield partner HFT (High Frequency Trading) fund that has successfully worked from the beginning of 2020 and has year-to-date yields of more than 40%. The fund size is more than 70 millions USD and they operate on several cryptocurrency exchanges like Binance and Bithumb with their API robots. What is good — automated trading does not require continuous uptrend of the Bitcoin price. We have seen good results during Bitcoin breakouts and breakdowns. We want to have the same yields from our investments. But there is a problem — they work with an entrance barrier of 1,000,000 USDT, like many private banking services or high-yield ETFs. Our basic idea is to make a kind of DeFi staking pool and put it under the management of the HFT fund. We will develop all infrastructure for connecting finance flows, deposits, and withdrawals.” The HULK total supply is 100,000 Tokens. Distribution breakdown is as follows:
Farms Distribution:80,000(6% or 4,800 — Team Part)
Initial Liquidity Pool:8,000
The project is new but already has a road-map to help guide their lofty ambitions. The first step begins with the formation of the pre-sale and Liquidity pool on Uniswap which is currently ongoing. Secondly, they will distribute Hulk tokens via staking farms. As described in their website they “will run staking farms for farming 80,000HULKs*. You will need to stake appropriate tokens on the selected farms to get your share of rewards in HULKs. Farm 1 will farm rewards of 60,000* HULKswithin 15 days, staking token — ETH-HULKLP Uniswap V2. Farm 2 will farm rewards of 10,000HULKswithin 15 days, staking token — USDN. Farm 3 will farm rewards of 10,000HULKswithin 15 days, staking token — Token Y. Token Y will be announced prior to the farms’ launch. Genesis farming time will be 15 days, after that farming rate will be settled on the level of 15th day. We implement halving every three days, so early farmers will get moreHULKs.View on Etherscan. In order to support the price of the token from dumping, we will take a 5% commission for the sale of tokens, when holders sell it on Uniswap, burn 4% and add 1% to the community grants account. The burnt amount will be added to farming pools after 15 days of initial farming. So, for example, if someone sold 20,000 HULKs, we will take 1,000 tokens, burn 800 of them and they will be re-minted on day 16. 200 tokens will be sent to the community grants address. The total supply is 100,000 tokens.” The third step includes the staking pool. The staking pool will be open for everyone on the following terms and conditions.
Staking Pool 1 Target:10 million USDT.
Minimum Staking Amount:100 USDT.
Type Of Staking:Locked
Minimum Staking Term:24 hours
Withdraw Period:24 hours after withdrawal order.
Funds from the staking pool will be transferred to the HFT fund for trading operations. Lastly, the Vault concept is descriptive. “We want to share revenue from HFT fund amongHULKholders that stake their tokens inHULKVault. HFT fund will send revenue from its operation once a month, on the first day of the following month. Current concept: Monthly revenue from HFT operations will be shared betweenHULKtokens staked in the vault according to the time of staking divided on 720 hours.Example:You stake your 500HULKtokens in Vault for 20 days (480 hours). YourHULK/hours equal to 500*480=240,000. Total HULK/hours in Vault in this month — 60,000,000. Your share in this month = 0,4%. HFT fund has earned 4% on staking pool funds this month. After payout of their 1,25% (15%/12) per month to USDT stakers, the remaining part is 10,000,000 USDT x 2,75% = 275,000 USD. Your profit share 0.4% of 275,000 = 1100 USDT will be sent as USDT to your address, connected with a Vault.” All of the above described by the tokens creators seems very complicated, but many tokens are already trying to accomplish this without access to an already built fund which can execute trades on a daily basis. Also due in part is the projects commitment to becoming a DAO by allowing holders to vote on key project decisions and development to make the ecosystem more effective and manageable. Decentralization is the most trustworthy base of contract/cryptocurrency ownership. It creates a unique and secure environment free from direct outside influence due to the filter of the entire community being involved. The developers have said that the voting system for the project will be done within the first 30 days of project launch. With lofty ambition and high expectations, the project looks to capitalize on the DeFi boom by hedging their fund against the market and giving holders a share of the pie. It will be interesting to see how successful and sustainable the project can be, but we will find out soon enough. PertinentHulk.FinanceLinks:
(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.
Nehmen wir als Beispiel den Algorithmus von Bitcoin. Dieser heißt SHA-256 kurz für "Secure hash algorithm 256 Bits". Er nimmt einen Input, der alles sein kann, Text, Zahlen oder sogar eine Computerdatei beliebiger Länge. Der erzeugte Output wird als "Hash" bezeichnet und hat jedes Mal die gleiche Länge, 256 Bits in Maschinencode. Der gleiche Input liefert jedes Mal den gleichen Output, er ... Binance, exchange di criptovalute - Il maggior exchange di bitcoin e criptovalute del mondo per volume While most cryptocurrencies on Binance are trading against Bitcoin, Binance offers many trading pairs against Ethreum, Ripple, and Tron. Trading against FIAT hadn’t been easier, as Binance offers plenty of trading pairs against the US-pegged stablecoins USDT, USDC, BUSD, TUSD, PAX, and more. Binance also offers to trade against some local FIAT coins such as the Russian Ruble and the Turkish ... Binance to Launch Bitcoin-Pegged Token on Its Own Blockchain Binance will issue a number of tokens pegged to leading cryptocurrencies on Binance Chain to boost the number of trading options on its ... Bitcoin has a limited supply, which means that there'll never be more than 21 million bitcoins. You can divide bitcoin into smaller units, called a satoshi, so you don't need to buy one whole bitcoin. You can also work to earn bitcoin." Bitcoin for Adult Professionals The Bitcoin ledger is protected against fraud via a trustless system; Bitcoin exchanges also work to defend themselves against potential theft, but high-profile thefts have occurred. The ... Bitcoin had reached $12000 , then we saw a 20% dropdown. Then there had been a rebound (growth) to the mirror level, from which we made another move down to the lower support line of the upward channel. The Binance exchange, which stores Bitcoin and other crypto-currencies for members, said hackers took 7,000 bitcoins in one go. Withdrawals have now been suspended on the platform. Bitcoin was conceptualized by a person (or group) under the pseudonym Satoshi Nakamoto. The idea was to create a unique digital payment system that would permit borderless financial transactions to occur without the need for mediators like banks or governments. The distributed architecture provided by blockchain technology, along with the cryptographic techniques, makes Bitcoin very resistant ... One analyst points to funding rates on Binance as a reliable sentiment indicator, noting that he is expecting upside. Bitcoin Trades Around $13,000 as Momentum Stalls At the time of writing, Bitcoin is trading down just under 1% at its current price of $13,150. This is around where it has been trading throughout the past 24-hours.
This Line Is Critical For Bitcoin + Binance Scandal
In today's video, we take a look at the binance expected acquisition of coinmarketcap and whether or not this is good for crypto. If you would like to be highlighted on my channel please reach out ... Binance.US brings you the trusted technology from the world's leading crypto exchange, Binance. Trade your USD for bitcoin, ethereum, and other cryptocurrencies. Trade your USD for bitcoin ... 🚨 MEGA BITCOIN BLUEPRINT SALE 🚨 https://www.btcblueprint.com 🔥 Up To $600 Discount - Limited Time 🔥 🔲 My Top 3 Recommended Exchanges 🔵 Phemex http ... CZ, founder and CEO of Binance, is LIVE with us to answer ALL your questions regarding bitcoin, binance, and cryptocurrency in 2020! [This is NOT sponsored!]... The Complete Binance Tutorial For Beginners! ₿₿₿₿₿ Register For Binance Here: https://www.binance.com/?ref=11610125 If you are looking for a complete Binance... This Line Is Critical For Bitcoin + Binance Scandal Altcoin Daily. Loading... Unsubscribe from Altcoin Daily? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 161K. Loading ... !!👨💻 SET UP A BINANCE US ACCOUNT 👩💻 !! https://www.binance.us/?ref=35000644 Binance US now allows you to use a Debit card to make purchases ... How to trade bitcoin futures on binance for beginners. Binance Bitcoin Futures Trading for Beginners EXPLAINED Join Binance https://www.binance.com/?ref=...