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TokenClub Bi-Weekly Report — Issue 114（5.4–5.17）
https://preview.redd.it/sxiftidp8cz41.png?width=1343&format=png&auto=webp&s=645584b9971068f347f80b63016bf229e45b0bbf Hello everyone, thank you for your continued interest and support. In the past two weeks, various tasks of TokenClub have been progressing steadily. The product development and community operation progress this week are as follows: 1. TokenClub Events 1)Binance blockchain live streaming program “Block 101” joins TokenClub APP TokenClub teamed up with Binance “Block 101” to host a series of live broadcast events. In the past two weeks, the big brothers such as the CEO of Feixin, Cobo co-founder Shenyu, and IOST co-founder Terry visited the TokenClub live broadcast room. See live summary. “Block 101” is a live broadcast of dialogues launched by Binance New Media Marketing Team, hosted by Jiayi, Anna, Liuliu, Yingge, Sisi, Qiqi, Doris, etc. Here will invite entrepreneurs in the industry, investment giants, opinion leaders, trading bulls or ordinary people with stories. Every Monday to Friday, with you in the TokenClub live room. https://preview.redd.it/2ftnirwq8cz41.png?width=1080&format=png&auto=webp&s=88f45a13ad522f8d5139a703cbf2f337720907f2 https://preview.redd.it/qubkprdr8cz41.png?width=690&format=png&auto=webp&s=878a619dc582b7c2bb6d660395be4b350cb74983 2)Participate in poster forwarding, draw red envelope prize When Bitcoin halves, TokenClub launches a poster forwarding red envelope campaign. On the day of the event, forward the poster to Twitter and the telegram group, and upload a screenshot to have the opportunity to extract the TCT red envelope award ~ 3)Participate in live streaming interactive questions and win mysterious gift events From May 11th to May 15th, TokenClub launched a live question and prize draw event. During the event, watch the block 101 live broadcast and interact with questions during the live broadcast, you will have the opportunity to get a mysterious gift from TokenClub. https://preview.redd.it/rcx8yett8cz41.png?width=1080&format=png&auto=webp&s=4e2541c0d893e20725c54d76ad96634a79cfb8fd 3)TokenClub’s self-media Bilaoye was invited to participate in AMA a. On May 7th,Bilaoye was invited by UPChain to conduct an AMA with the theme of “Half Countdown, Where Will the Market Go” in the Chains community. AMA article link: http://public.tokenup100.com/page/article.html?articleId=f1db8c6bfaa94886bbdd863ec9908252&from=timeline&isappinstalled=0 b. On May 8th, Bilaoye was invited by Golden Finance to conduct an AMA with the theme “Bitcoin Breaks Over US $ 10,000 and Will Do This in Half”. Review link: https://m.jinse.com/live/topic?id=11813&from=singlemessage&isappinstalled=0 C. On May 14, Bilaoye was invited by Cailu Finance to conduct an AMA with the theme of “Correct Postures for Depositing Money” in the Cailu community.Review link: https://preview.redd.it/47prnpkv8cz41.png?width=1080&format=png&auto=webp&s=5baa2e06ec09ecdd60adb609bac247333059c016 2.TokenClub Live 1) Summary Recently, Feng Yuqing, the director of Yicai Global America, the first Chinese reporter to interview Buffett, the organizer & host of the First Financial New York Forum; a world-renowned financial expert, a professor of finance at the Cheung Kong Graduate School of Business, and the director of the finance department -Cao Huining; ARPA founder Felix, SWFT Blockchain one-stop currency exchange cross-chain platform operation in Greater China & BD leader-Ye Fei, mining big man Binxin Mining CEO “Feige”, contract emperor co-founder Xiaoding, AlchemyPay co-founder Shi Xiang, financial expert & first-line trader Xu Zhe, Huobi Key Account Manager-Xiaotong, Roark Group & Bitribe & 499 Block founder sky, Cobo co-founder Shenyu, DappReview CEO Niu Fengxuan, IOST co-founder Terry; and TokenClub blockchain and cryptocurrency investment strategy senior expert-Zao Shen talks with you about the blockchain ~ On May 6, Block 101 Sisi Dialogue Felix, the founder of the hard-core technical team on the blockchain, ARPA Felix, the theme is “The Wall Street Battle of the Wall Street Elite”. In this live dialogue, the resume is dazzling. , The young man who was free to switch between “Yangchun Baixue” and “earthed gas” from the team’s initial heart chat to his investment strategy to the judgment of the entire currency market, his fanaticism of rock seems to explain a series of “adventure” options- — Longing for a more free and innovative world. https://preview.redd.it/7fahx79x8cz41.png?width=1080&format=png&auto=webp&s=b0282a4fb4730d2898b15326d42e0460a3b92f10 On May 6th, TokenClub invited the one-stop SWFT Blockchain currency exchange cross-chain platform Greater China operation & BD leader-Ye Fei as a guest to “Jingjing at 8 o’clock” live broadcast, bringing us “flash exchange in the future block The theme of “Chain Payment Ecosystem” is shared. Mr. Ye made a detailed interpretation of SWFTC, and revealed the development plan of SWFTC, and exchanged questions and answers with fans enthusiastically. https://preview.redd.it/27thi7cy8cz41.png?width=1080&format=png&auto=webp&s=df20cc7176e671942d85edf6b0790c0b8020663f On May 7th, Block 101 Luna talked to the CEO of the mining industry, who is most familiar with KTV, Kexin Mining, “Fei Ge”. Liu Fei talked to Bin An Luna, he counted his mining “stepping on the pit road” “, Talking about halving the market and investment experience, talking to the second half, wearing a red Polo shirt, he began to persuade everyone to learn more in the KTV in Beijing at night, and recommended books. https://preview.redd.it/4nhtp1sz8cz41.png?width=1080&format=png&auto=webp&s=03b8e1da731eefd1d57f65e3d1fa337e7eaafd66 On May 8, the TokenClub live column-”Professor had an appointment” shared the theme: “BOC crude oil treasure and financial derivatives market”. In this issue, Professor Cao invited the first U.S. Global Director of the United States, the first Chinese reporter to interview Buffett, the organizer & host of the First Financial New York Forum, and Columbia University Master of International Relations Feng Yuqing to share with guests on Chain, digital currency financial derivatives market, etc. have done a detailed exchange analysis. https://preview.redd.it/4zgaxsw09cz41.png?width=1080&format=png&auto=webp&s=a88fc93057a631cc152b225dfb186385abaffbd6 On May 8th, block 101 was led by Binance BD’s head Li Jiayi, who talked about contract emperor co-founder Xiao Dingdang. He is an old code farmer who is known for his futures contract operations. He wrote a 10-year code, and the front end Everyone is familiar with it, and it is hard to say anything on the line of speech. Frankly, he talked from his fortune history to the story of the endless number of contract circles, and shared his trading iron law with everyone: there must be a stop loss; must practice more and try more. https://preview.redd.it/90hyrg639cz41.png?width=1080&format=png&auto=webp&s=ded092ee130fa72d7b38e2ee9ca9b4d67d382c71 On May 9th, Zaoshen is coming ~ The sharing theme of this issue is: The Yangtze River will push back and forth, and one wave will be more than one wave. Speaking of the “Houlang” hot event, Zao Shen mainly analyzed the halving market with everyone in detail, to see how many opportunities there are and what strategies to choose. Soul asked: How much money did you make in this wave of quotes? https://preview.redd.it/dwh2ojp49cz41.png?width=1080&format=png&auto=webp&s=466850dcc4d01e49872b144e49369c859256a67c On May 11, Block 101 was discussed by Binance Qiqi Dialogue AlchemyPay co-founder Shi Xiang, the former vice president of Zhongan Technology and the founder of Micro Index shared with you the experience of dealing with overseas regulators: supervision is not actually strong Groups, regulation will strike you because you are worried about doing bad things, but as long as you are willing to actively communicate, regulation usually gives a tolerance period. For more content, please move to the live room. https://preview.redd.it/grgnfkw59cz41.png?width=1080&format=png&auto=webp&s=83afa9faf03d4da0b26fc85f9e0c562127ca9f83 May 12, Exclusive: Huobi Global & Knowing Daniel Interpretation of “Physical Currency, Debt Currency to Encrypted Digital Currency”. The key account manager of Huobi Global has a conversation with financial expert and front-line trader Xu Zhe, talking about physical currency, debt currency and encrypted digital currency. Work is tired enough, the market is already exciting enough, pick Xu Da Tucao various currencies, teach you to return all the money. The value of the young lady’s face is a feeling of emotion. https://preview.redd.it/8vsehsc79cz41.png?width=1080&format=png&auto=webp&s=b305df0b0c51b339ef109d8041da4ae05a7f7fd0 On May 12, Block 101 was founded by Binance Thinking, the founder of Roark Group, Bitribe, and 499Block. Sky, a science and technology man from Tsinghua University and MIT, has the title of “Coin Circle Zheng Kai”. Sky said that starting a business in the blockchain industry is like drifting in the turbulent Amazon River. If you do n’t believe that you will eventually reach the sea, you will be thrown off. Sky believes that Bitcoin is essentially a consensus based on time. Halving is like escaping the monsters, and each level increases the consensus. https://preview.redd.it/gc9mgni89cz41.png?width=1080&format=png&auto=webp&s=2842c60a520c27993f8b4d1c611e112514352482 On May 13th, Block 101 Luna talked to F2Pool and Cobo co-founder Shenyu, and talked about the “new” story of Bitcoin. Leo ’s Godfish talked to us about the monopoly of computing power, mining pool operations, halving and Cobo ’s future development goals. He said that 80–90% of personal assets are Bitcoin, and about 10% of Ethereum and other Strange coins from mining. It is called “the first segment of the coin circle” because “more pits are filled, so in the end each pit becomes a stalk.” https://preview.redd.it/rga6ean99cz41.png?width=1080&format=png&auto=webp&s=243c7aae2d8144621e913f3c8615465eea1d42e4 On May 14, Niu Fengxuan, CEO of DappReview, talked about “how ordinary people make money through Dapp”. Niu Fengxuan graduated from Fudan and Stanford. He is a serious game enthusiast. He has written many in-depth game evaluations and is an early participant of Dapp. He said that many people think that the biggest application of blockchain is speculation, but the technology ultimately serves products and applications. In the long run, if blockchain can really bring changes and innovations to the world technically, then it must be C-side users should feel it in a more friendly way in other fields. https://preview.redd.it/zx38u5qa9cz41.png?width=1080&format=png&auto=webp&s=da5a65164e1ee8a3b91e446bdce8c5c7e905990f On May 15th, Block 101 Yingge talked to IOST co-founder Terry and talked about “The Blockchain Ideal of Princeton Schoolmaster”. Terry told us about his sad history, happy history, and experience and experience of mining from college mining to graduate school to entrepreneurship, talked about the development direction of the blockchain market, and interacted with fans. https://preview.redd.it/uats2yqb9cz41.png?width=1080&format=png&auto=webp&s=aba5587f0a96b0e31b3b205ea0d7a48a03664dd5 On May 16th, senior expert Zao Shen brought a live broadcast on the theme of “Depth Is Insufficient In Operation, How To Play With Crash”. In this live broadcast, in addition to analyzing the macro level of the economy, Zao Shen also focused on sharing The specific operation skills emphasized the principle of buying and selling, and finally commented on the hot events such as the recent Federal Reserve announcement that it will not fall to negative interest rates. 3.TokenClub operation data -Live data: 13 live broadcasts in the past two weeks, with over 600,000 views. TokenClub hosted a total of 835 live broadcasts with a total of 44.25 million views. -Binary trade data: In the past two weeks, guess the rise and fall to participate in a total of 1060 times, the amount of participation exceeded 2 million TCT. At present, it is guessed that the rise and fall function has participated in a total of 1.11 million times, with a cumulative participation amount of 496 million TCT. -Chat data: In the past two weeks, a total of 28,950 messages have been generated. A total of 4.83 milliom messages have been launched since the function was launched. -Mini-game data: The mini-game has participated in a total of 7,830 times in the past two weeks. A total of 1,66 million self-functions have been online. -Cut leeks game data together: Since the game was launched, the total number of user participation in the game was 954,364 TCT total consumption was 6,27 million gift certificate total consumption was 15,53 million and TCT mining output was 160,48. -TokenClub KOL data: Over the past two weeks, the total reading volume of the BTCGrandpa article has been viewed by more than 300,000 people. -Social media data: At present, the number of Weibo official accounts is 17,972 and the number of Twitter followers is 1310, and we have opened the official Medium account this week, welcome to follow. -Telegram official group data: In the past 2 weeks, there were 310 chats in the group, and the total number of Telegram official groups is currently 2971. -Medium data: Medium official account u/TokenClub has published 1 excellent articles, official announcements and updates are published in English, welcome to follow. 4.Communities 1)Overseas community TokenClub held an event for forwarding Twitter and telegram group chats for overseas users. Bitcoin halved in less than two weeks, overseas users are more active in the telegram group, and some friends are more concerned about Binance Block 101 live broadcast, aggregation exchange, TCT usage and other issues, the administrator responded in time.On May 12th, when Bitcoin was halved, TokenClub organized a forwarding Twitter, telegram group chat prize event and participating in a live question asking interactive prize event for overseas users. There are many live broadcast events in the near future. The live broadcast poster information will be released to overseas users as soon as possible. The follow-up TokenClub will translate and broadcast high-quality live broadcast content to Twitter and Medium. Bitcoin halved, overseas users are more active in the telegram group, and some partners are more concerned about block 101 live broadcast, bitcoin future price trend, TCT usage and other issues, the administrator responded in time in the group. https://preview.redd.it/msi423re9cz41.png?width=1080&format=png&auto=webp&s=f0c453445cea34b8cba807e8bfa237dabfe9fb24 2)Domestic community Last Friday, a holiday, the community opened the red envelope rain event, and brought a sincere gift to everyone while relaxing in the holiday. At the same time, it also sent the most sincere blessings to all mothers in the community on Mother’s Day. Thank you for your long-term support and help to the Orange Club community. The third week of the second 100-day fixed investment plan held this week has been awarded. The participation of this event is still quite positive. This week, the bitcoin halving market was also opened in advance. If it starts according to the first day The small partners participating in the fixed investment should now have a certain floating win, so we adopt the correct cycle investment strategy to believe that it can bring unexpected benefits to everyone. On May 9th and May 16th, TCT Fortune Free Academy carried out red envelope party activities as scheduled. In the event, in addition to GF red envelopes, students were reminded that there may be a callback risk after the pie halving, and short-term profits are available. On the evening of May 3rd and May 10th, TCT Fortune Free Academy carried out the 51st and 52nd week sign-in sweepstakes, and rewarded the small TCT partners who had always insisted on signing in. In these two sign-in sweepstakes, the lucky friends received 20–180TCT as a reward. In addition, during the lucky draw, the college friends also actively expressed their opinions on the topic of this year’s bull market. The Leek Paradise Community Conference will continue as usual every Sunday at 20:00. During the conference, members will discuss recent hot topics, including gifts and blessings for Mother ’s Day, and the halving of Bitcoin everyone is paying attention to. At the end, the friends in the group also showed a rare enthusiasm at the first sight. It seems that the market still affects the mood. The members routinely started a red envelope rain to cheer for the participating partners and encourage everyone to maintain patience and confidence. Of course, at the same time, we are encouraging ourselves to see the community meeting next week. Come on! TokenClub volunteer community, sign in red envelopes every day, as long as you sign in every day, you can get good benefits, friends join us quickly! In the past two weeks, the community has conducted active partners. TCT has been listed on Binance、Okex、Gate.io、ZB-M、MXC、Biki、Coinex、BigOne、Coinbene、Cybex、SWFT、Loopring、Rootrex etc. TokenClub website: www.tokenclub.com Telegram：https://t.me/token\_club TokenClub App download QR code https://preview.redd.it/59o55ojn9cz41.png?width=560&format=png&auto=webp&s=b3b3f69f59d6f25c87319d7e9331435e36e27ba7
I’m creating these possible series to hopefully start a dialog between those that are interested in dApp development on VeChain. I’ve created a few dApps on Ethereum (nothing published) so I have a bit of insight on how all this jazz is put together. It should be noted that i’m in no way a professional dApp developer, especially with building dApps on VeChain, so if anyone would like to chime in, correct me, or offer constructive criticism I would be grateful as it helps out me and the community. I thought about ironing out all the details and presenting one body of work but I too am learning and thought it would be nice to get feedback along the way. This is the initial steps and is no way a complete guide to dApp development. I’ll be discussing how to connect to the VeChain blockchain locally on your computer. This should (crossing my fingers) hopefully get you in a place to interact with the smart contracts you deploy to a local blockchain (see edit) the testnet from your computer. I have a mac so there probably will be some differences getting this going on a PC. Hopefully we all can help each other. Enough talking lets get to it!
Installation
To build a dApp locally you’ll need to have a local (see edit) the local network running the blockchain. To do that you’ll need to install VeChain Thor. I guess thats the name of it? Thats all it says in the repo. Anyways to install make sure you have Go installed. To install Go, follow this link. Once you’ve install Go, clone the VeChain Thor repo using git:
git clone https://github.com/vechain/thor.git cd thor
Now in the README.md under “Installation” there is a heading entitled “Dependency management” and there are a few steps you can take. Those steps are make dep or to manually install dependencies you can run dep ensure. Because I didn’t have the source code in my gopath I kept receiving the error is not within a known GOPATH/src. So i just had to create my gopath and add it to my .bash_profile. If you still get an error check out these resources:
Really it was a headache getting that to work so I took a break from my computer and ate a cupcake. Once you have installed the dependancies you’ll need to cd back to the thor repo that you just cloned and run: make or as the instructions say “if you want to build the full suite” run: make all Does anyone know the difference between the full suite and the non full suite? (see edit 2) Once you have built the main app you are ready to run the Thor network.
Running the Thor network
For our purposes we will want to connect to the testnet. To connect run: bin/thor --network test Again make sure you are running this command in the thor repo that you cloned. To connect to the mainnet replace “test” with “main”. Per the README if you want to see all the commands and play around run bin/thor -h to get some help. Once you run this you should see a lot of stuff being printed in your console. Let it sit and open up a new terminal window. You can rejoice because got the testnet running locally on your machine! Note: These instructions are all on the VeChain/Thor README.
Proxy to the Thor network
Now we will need to proxy to the network using something VeChain provides us called web3-gear. My educated guess is that this is the medium between the network (local blockchain??) and the services running on your client, aka web3. You won’t need to clone the web3-gear repo. You’ll use a package manager to install it. On a mac run: brew install openssl To install the dependancies needed to run web3-gear. Once that completes run: pip3 install web3-gear Make sure you have Python 3.6+ to run both of these steps. On a PC you’ll just have to run pip install web3-gear but make sure beforehand you have Visual C++ Build Tools and script-py. Once you’re done install web3-gear run it by calling its name “web3-gear”. You now have the web proxy up and running and can connect to it using different tools. Want to play around with some smart contracts? Connect to the network using Remix. Go to the “Run” tab and select “Web3 Provider” from the “Environment” tab. You’ll see a bunch of stuff happening in your console which is pretty neat. If you want to continue your development locally using something like Vue, React or Node you can keep reading.
Connect your client to the Thor network
So at this point i was pretty familiar with using web3 to connect to the services running on the backend. But VeChain is a bit different (superior in my opinion) and had to use Thorify to adapt web3 to work alongside the background services. For this part i’ll use React as i’ve been working with it for the past 2 years. Lets get react up and running with create-react-app. To install create-react-app just run:
npx create-react-app thor-web-app cd thor-web-app
Next we will want to install Thorify and Web3. To do so run:
Now run npm run start and your app just pop up. So by now you have an app running and you are about to connect to the VeChain Thor network but you might need some smart contracts. For that I recommend Truffle. Truffle is a suite that helps compile, deploy and test your smart contracts. It does more as well but we will just need it now for compiling and deploying your smart contracts. To install truffle run: npm install -g truffle Bow! You got truffle. So lets get some contracts into your app. Navigate, clone or download the truffle-webpack-demo repo. In this repo you will find 3 things that you need. They are the contracts folder, the migrations folder, and truffle.js. Copy those to the root of your thor-web-app. Note: On windows systems you might have trouble running truffle in your main folder due to the truffle.js file so create truffle.config.js and put it in the root of your thor-web-app. What we just copied over are really elementary contracts but it should give you an idea of how a contract works. I’m not really gonna go into detail on understanding Solidity right now but hopefully that gives you a starting point. We will need to configure Truffle to deploy our contracts to the right network. To do so add this to your truffle.js or truffle.config.js files:
module.exports = { networks: { development: { host: "localhost", port: 8545, network_id: "*" // Match any network id } } };
Once we have those items in place we need to compile and migrate contracts. Solidity is what our contracts are written in but we need to compile them to bytecode to deploy to our local the testnet (see edit) network. To do so run: truffle compile in the root of your app. This will create a build directory. Then we will want to migrate the newly compiled contracts to the development network that we set up previously. To do so run: truffle migrate --development Boom! Your contracts have been migrated and now should be living on the blockchain. You can now interact with your contracts. Here is where I could have done things differently. The build folder creates JSON files that your app will need to read. The JSON files are essentially a blueprint of your contracts that your client will read. Because the build folder is built and placed in the root of our app React can’t reach those files. So I had to move the build folder into the src folder. That’s not optimal. You don’t want to have to keep moving it. I believe you can tell Truffle where to place your build files. But for now just move the build folder into the src folder. Once you have the build folder inside your src folder its time to get that data into your app. For ease of this article I chose to put my web3 code in App.js but it really can be done in many places. Open up App.js and import Thorify, web3, and your contract data like so:
// ES6 style import { thorify } from "thorify"; import MetaCoin from './build/contracts/MetaCoin.json'; const Web3 = require("web3"); // Its recommended to use require instead of import const web3 = thorify(new Web3(), "http://localhost:8669");
I messed up here and thought that I needed to connect to port “8545” but that is wrong. Make sure you are connecting to port “8669”. Now lets connect it all! const MetaCoinContract = new web3.eth.Contract(MetaCoin.abi); From the web3 docs:
The web3.eth.Contract object makes it easy to interact with smart contracts on the ethereum blockchain. When you create a new contract object you give it the json interface of the respective smart contract and web3 will auto convert all calls into low level ABI calls over RPC for you. This allows you to interact with smart contracts as if they were JavaScript objects.
If you console log MetaCoinContract you’ll see an object with many different properties. Some of the properties you will see are methods and these methods should correspond to the functions inside your Solidity contract. You run these methods to execute those functions! Alright I’m going to leave you guys now but hopefully this is a good start for you guys. What do you think? Can anything be optimized? What can be done better or different? Also we are trying to get this VeChain open source community going so if you have an idea or need help PM me. edit: it seems as though we aren't connecting to a local standalone blockchain on your local machine per the docs. This is different from my Ethereum development as you create a standalone testing blockchain. Maybe someone can provide further information. I will update the post to reflect information given by the community. edit 2 (thanks u/davy_li): Running make without a target name will process the first Makefile target that doesn't start with a . (so in this case, equivalent to running make thor). On the other hand, make all will run the thor and disco targets, where "disco" is a boostrap node for the Ethereum discovery protocol. update: I published my Intro to VeChain dApp Development post here: P.S. Community site is coming along nicely.
It's time for investors to pursue quality, and to stop chasing shit
Guys, I'm going to put this out there, as a self-professed and defiant holder. I know some of you are active traders that may take offense to this, so just cover your eyes or ignore me for what follows. There was a time to trade shitcoins and easily make money in crypto. Almost anyone could do it, practically by throwing darts at a board. And those times come in cycles, with history repeating itself. One of these cycles is likely in the process of ending, with coins that briefly found themselves in top spots, that are now relegated back to the dust bin of the crypto charts. But I believe we may be nearing the end of a mega-cycle of trading shitcoins to make easy money, because the world is about to realize what a "quality" blockchain is, in the form of Ethereum. Don't get me wrong, some of you can still trade the volatility and make money, but most of us can't do it consistently. And even if you can, consider if now is the time you want to risk your ETH to chase such gains, especially when we are on the precipice of truly amazing things happening for Ethereum. Take this announcement from Vitalik yesterday, where he straight up says 2018 is going to be a huge year for Ethereum. And this coming from a guy who is known for being incredibly un-sensational. Vitalik does not hype. Or this article in today's New York Times, which presents Ethereum as a "base layer" for a future, blockchain-enabled world. This is the most flattering depictions I have ever seen of Ethereum in the mainstream press, and it is just the beginning of Ethereum entering the zeitgeist. What's holding Ethereum back from true greatness? Scaling. What has Vitalik committed to bringing to Ethereum in 2018/2019? Scaling. Here's my insane prediction: as soon as we have any form of scaling that allows for meaningful dapp usage, which could come in the form of Trusted Relay Networks or Minimum Viable Plasma, it's going to be game on for Ethereum and game over for much of the competition. What will that look like for the price? I think up to 5x, just from temporary / suboptimal (and perhaps linear) scaling that allows for many currently ready dapps to run. Add on imminent futures, EEA announcements, Proof of Stake, Sharding, and maybe even an ETF? Add on another possible 5x to 10x. I know, this yields insanely high numbers, and I know many will think this is being completely unrealistic, but you're about to see what happens in a market when it starts to realize fundamental value over hype.
Whitehat Withdraw contract is deployed at 0x9f5304da62a5408416ea58a17a92611019bd5ce3
The Whitehat Withdraw contract has been deployed at 0x9f5304da62a5408416ea58a17a92611019bd5ce3 . 4,171,615 ETC have been transferred and are now available to be retrieved by any DAO Token Holder who had Tokens at the Hard Fork. Reminder, to retrieve your share of ETC please use the following options:
Directly call the withdraw() function of the contract in the ETC chain from your DTH at the time of the hard fork with the following argument:
beneficiary: An ETC address you control where the funds will be sent to. This can also be an exchange deposit address.
percentageWH A number ranging from 0 to 100, stating the percentage of your funds you would like to give as donation to the whitehat group
A great Q&A is available here: http://ethereum.stackexchange.com/questions/8338/how-do-i-convert-my-the-dao-tokens-into-ethers-on-the-ethereum-classic-chain We also updated the last blog post: https://blog.bity.com/2016/08/29/whitehat-withdrawal-contract-last-update-before-deployment/ The method to deposit funds in the contract is only by using the deposit() function: whwithdraw.deposit({from: account, gas: 90000, value: web3.toWei(ETHERAMOUNT, 'ether')}) Within moments of deploying the initial contract, we discovered an irregular behaviour when people were donating 0% We decided to immediately stop the contract using the Escape Hatch while we looked into the irregularities. After investigation, it appears that using the send() function with a value of 0 from a contract account to a multisig account will not work. The reason is that send() with a value of 0 gives a gas stipend of 0 gas which when sending to the typical multisig wallet hits this line (https://github.com/ethereum/dapp-bin/blob/mastewallet/wallet.sol#L336) and has no gas to spend. As a result, the whole transaction was throwing. This issue was fixed by not calling the send() function if a zero donation is detected. We of course had tests available (https://github.com/BitySA/whetcwithdraw/blob/086170f38eef1762726c4109a3ed713d79b87c26/tests/deploy.js#L274) for this scenario, but with a normal end-user account as the donation address instead of a multi-sig wallet. This is why the discrepancy was not discovered until we went live. We were able to reproduce, adjust, test, and deploy a modified contract at 0x9f5304da62a5408416ea58a17a92611019bd5ce3. In this new contract, we pre-populated the paidOut mapping for the people who had already performed withdrawals. 54 transactions already had happened. If you are part of these 54 transactions and you were forced to use 1% as a donation argument to make the transaction go through, please contact us and we will send the remaining back to you. Some best practises:
Thoughts going into 2018 & why we may see 50 before we see 5000...
I’ve been here since January, when I heard a podcast interview with Vitalik and bought my first Ethers. Each one put me back about the price of a Chipotle burrito. I expected to see some gains in 5 years. Little did I know that I had stumbled into a once-in-a-generation investment opportunity. Fast-forward a year, and Ether is almost flirting with quadruple digits. Now, I am very bullish on Ether longterm. I think that someday we will likely see 10k and beyond. But I also think there’s a decent chance we will see 50 again before we see 5000. Now that might sound crazy. And maybe it is. But let’s consider for a moment how terrible we are at predicting the future. Look at the threads here from this time last year when Ether was in the single digits. Even the most bullish predictions for the end of 2017 rarely exceeded 50, let alone 100. Folks who predicted 700+ would have been sent straight to the loony bin. Now, we see the opposite: predictions like 5k and even 10k don’t seem all that crazy. Predicting a major crash though to sub 100 puts you in the minority, among Ethtraders. But the history of cryptocurrency is one of booms and busts. Prices shoot up then crash and then go up again. And there’s no reason to think that this pattern will stop anytime soon. After all, it happens in the early days of any world-changing technology. Whether the Internet or the blockchain, there is always a tug of war between reality and possibility. Between the recognition that a technology will be world-changing and the reality that it is not yet so. A tug of war between reason, fear and greed. I see Ethereum as a precocious kid. She is brilliant and she has all the potential in the world. But she is still young. She is learning fast but she still has a lot to learn. Some day she will fly, but today, she is still learning to walk. Someday she may be the world’s leading platform for economy, law, and governance. Today she is a place to collect and breed digital cats. Vitalik himself has said that he thinks Crypto does not deserve its current market cap....yet. I love Ethtrader but it can also be an echo chamber of bullish sentiment, Ethereum maximalism, and hodl absolutism. And I think that as a whole, our community is underestimating the likelihood of a major crash in the next few months to a year. I don't mean a 25% dip. I mean a crash to below 150 or 100 where it stays there for months or even years (unlikely but possible). Currently something like 40 of the top 100 cryptos by market cap, are ERC-20s and many run on Ethereum. Some of these tokens are north of 500 million or even a billion in market cap and haven’t even released a product yet. This is a boon to Ethereum in the long-term, but it creates short-term vulnerability as many of these projects will fail (most startups fail). In the next few months, the rubber hits the road as some high-profile dapps go live. This means that Ethereum will be tested like never before. Ethereum has exciting scaling solutions down the road (sharding, Raiden, Plasma), but we’re just not there...yet. Expect some major growing pains in the coming months. And like it always does, the market will overreact and we can expect a major sell-off. So let’s say that there’s a decent chance of a crash in the next year. What to do about it? If you are the sort of person who truly does not give a f**k about the short to medium-term e.g., you can go weeks without looking at prices, then sure, just HODL. Be honest with yourself though. I think this is true for very few of us. This is Ethtrader after all. Imagine Ether plummets to sub 150 and lingers there for months. If there’s been nothing but blood on the streets, red on GDAX, and bearish posts on reddit for months, it will be tough to stay optimistic. This will be especially true if at the same time, other cryptos are soaring. And for those of us who have the resolve to HODL, we still may kick ourselves for not taking some profits when it was higher so we could buy back lower. Now, of course the flip side is that it may keep soaring and this could be 1996 in the Dot Com Bubble. So this isn’t about predicting what will happen. After all, nobody can do that. Well, except maybe Scienceguy... But rather this is about situating ourselves to be well-positioned regardless of what happens. So what I’m proposing is to sell enough that you won’t panic sell or stress out (too much) if it crashes and that you’ll be able to buy back at a lower price. But not so much that you’ll freak out and FOMO back in if it keeps going up. If it drops, you’ll be able to buy back in at a discount. If it keeps going up...well you’ll still make a bunch. I'm talking about selling maybe 15-25% of your holdings. If it falls to a quarter of the price, you'll double your stack. This is less about the financial gain though than about getting peace of mind, which is priceless. What I mean is that if it crashes 50 or 80% you won't freak out too much, but instead will think 'oh cool I can buy back in lower.' But the most important thing is to have a system and stick to it. If you are in the minority who is truly immune to crashes, then by all means hodl. Power to you. I just don't think that's true for most of us here. Now some of you bought in recently and may be in the red right now. Let's say you bought at 830. In that case, I wouldn't sell...yet. I don't think it makes sense to sell at a loss unless something fundamental has changed or you need the cash. And I think this bull run likely has some steam left. I could see us breaking 1000 in the next month or two before a big correction. Of course, that’s just a guess. Anything is possible. So I'd say set a limit sell a bit above your buy-in price. Again, just for a small portion of your stack. If the order goes through before a potential crash then you can get some peace of mind and can buy back in lower. If not, just try to hodl through and eventually things should pan out. Ok guys, just my two cents. It's been a hell of a year, and in the scheme of things, we're just getting started here. Stay safe, stay hungry, and happy New Year!
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23 April AMA - All Questions and Answers! (DJ Qian & Bin Jiang)
Today was the AMA in the official Telegram group. I grouped all questions and answers for the people that missed out :) Enjoy. Question: I got some questions about the testnet. You kow me, I am here since first minute. I am curious about the testnet release. and where are we Answer (DJ Qian): I think I would rather not answer you by a percentage. After all, the percentage is caculated by lines of codes or modules. Maybe 95% cost 1 months, but finally find the rest 5% will cost 2 months. haha. My expectation is we release a version of testnet in May. And so far I think we are still on track. Question: Can you explain to me in noob terms how fusion VM will be different from let’s say EVM? Answer (Bin Jiang): 1. FUSION VM added outside data source, like oracle. 2. In FUSION VM, for some frequent app calls, we have a design to calculate the frequency of usage and compile to native code dynamically 3. Regarding the data format, we optimized the decimal calculation because it is very important for finance. Question: My question, how will you calculate the gas amount for tx? And are you able to communicatie with Hedera Hashgraph Answer (Bin Jiang): Similar to Ethereum, caculate by steps and price of steps. Question: Hello, my two questions are how do you plan to implement the TIME and HTTP inside a smart contract those make the smart contracts not deterministic. (technichal answer please :) I hope you understand my questions ? Answer (Bin Jiang): It will depend on consensus. On today's blockchain, nodes get consensus of time. We are going to use the same machenism to determine the event. Regarding HTTP, first of all, the data from HTTP will be packed in block, and nodes need to get consensus on the data which trigger smart contract. Question: Is the test net will be publicly open ? What futures test net will show us ? Answer (Bin Jiang): Yes. And most important features in our first version of mainet will be 1. Lock in& Lock out 2. Split token by time (financial functions) 3. Optimized VM for finance. Question: Will there ever be more Fusion tokens or is there a Finite number Answer (Bin Jiang): No. Finite number is 81.92M. Question: I'm not a programmer, some ppl says if vm code is in C++ can be more efficient than Java.So Why not choose Java. Answer (Bin Jiang): The reason we released VM in java is that we want to prove the design fast. Actually in mainnet, we are using GO Question: With the first version released will we get to test some of the interoperable features, cross-chain atomic swap etc...? Answer (Bin Jiang): On FUSION, we don't need to pay much attention to atomic swap. And I can assure you, the feature I just mentioned are really exciting and important to financial functions. Atomic swap is only a exchange transaction, only one type of financial service. Question: Last question, how will cross chain consensus work in systems that don’t have smart contracts. Answer (Bin Jiang): On FUSION, all token/digital assets/cryptos actually they are on same layer. Question: WAN, ICON and AION have an alliance to work on things like Interoperability etc. Are you planning to join the same alliance or create a new alliance to solve the Interoperability issue. Answer (Bin Jiang): Technically, all token/digital assets/cryptos can be locked in on fusion. It even does not need support from other chain. Anyone holding those token/digital assets/cryptos, they can do by themselves. Question: Hi Bin Jiang in general do you feel you guys are on track to meet current deadlines or do you foresee some additional challenges. Answer (Bin Jiang): Yes. Question: And is there any project that has a similar consensus model to fusion (hccm) Answer (Bin Jiang): Not yet. But I feel there will be in the future. We are very confident with the consensus we design Question: how do you validate the source ? TLS and if its consensus as in multiple requests to same source, thats not efficient could that be source for DDOSing somebody Answer (Bin Jiang): Actually, on future we really don't care whether the data source is reliable or not. In blockchain, if something is not truth, but everyone says it is truth, then it is truth. Question: DJ, do you and the Fusion team to plan to attend consensus NYC? Answer (Bin Jiang): We will be there. Question: Hello. Which blockchain project is the base for Fusion (Ethereum, Tendermint, EOS,...)? Answer (Bin Jiang): The amazing part of FUSION is that our technology team can do much more than developing a project based on another one. We absorbed some projects excellent features, but we are not based on any other existing projects. From testnet code in May, you will find out. Question: Will Fusion release libraries to develop with upon TestNet release? Or is it up to community to create the libraries for all languages Answer (Bin Jiang): We will release a SDK, though it will be very simple in the first version. Question: Is fusion able to communicate with EVERY blockchain or are the specific requirements to be able to communicate? Answer (Bin Jiang): Every blockchain, whose token is controlled by private key. Question: How do you plan to balance anonymous nature of decentralised loans with the ID system native to blockchain contracts? A financial institution may need this for confidence in loans, is this something that will be handles off chain or will it be a part of the native system of Fusion? Answer (Bin Jiang): This can be build in apps. Not infrastructure like FUSION. Question: Noob question- how come you decided not to have masternodes? And is this decision finalised? I appreciate there is still staking/mining, but I thought the masternode concept was quite good to help encourage a high proportion of 'trusted' consensus nodes, and therefore help with stability Answer (Bin Jiang): No, some model like masternode is still being evaluated. I also agree masternode concept is good. Question: What sets Fusion apart from similar projects such as Ziliqua,Wanchain, and upcoming projects such as Quarkchain, Seele, Edenchain. How is Fusion considering to evolve to keep up with new incoming infrastructure projects? Answer (Bin Jiang): From my perspective, these are quite different projects, no matter targeting market, technical design... Question: How big is the developer team? Answer (Bin Jiang): Today, 17. But will add some in these days. Question: DJ I was wondering if your company Bitse is related to Fusion or of this is an independent project? Answer (DJ Qian): BitSE is transformed to be a token holding company now. Not much operation. Question: Can we have Testnet release date in May , with atleast a 2 Weeks countdown ticker. Answer (DJ Qian): That creates shilling. But the most important thing is we deliver that. Question: What about awareness? Answer (DJ Qian): We will keep creating awareness. What I care more is we really have assets lock in on future once our mainnet go live, and financial dapps running on FUSION as well. Question: Are there already contracts signed for dApps to run on Fusion? Answer (DJ Qian): What I can tell you is that there are already some companies and projects developing products like wallet, finance dapp on fusion. Question: Today we found about about Testnet in May, from an investor point of view, it boosted our confidence and reassured us. Having some key dates mentioned, provides new investors with the confidence they need Answer (DJ Qian): If it is the only question that matters, I would rather have Jiangbin go back to coding than answering questions here, hahaha Question: Will it be possible to lock in any token from any other blockchains? Or does fusion need to have some kind of tailored bridge functionality for every blockchain out there? Answer (DJ Qian): Yes. That's what we are targeting. But for first batch, we might choose 1. BTC. 2. USDT 3. ETH 4. ERC20. Question: DJ could you please explain what this project means to you , you have been extremely successful and I feel this is almost a legacy that you are wanting to leave Answer (DJ Qian): I have been dreamt of doing project like FUSION for long. I am not doing FUSION for money, but for self accomplishment. Question: Hey dj i really like Fusion since the start. But that *code release was not really much and kinda felt not like the smart contract for the Ico felt. Answer (DJ Qian): ICO model is a full function. That's why you can feel it. VM is only a module. So you don't have much feeling about it. But still it is very important. When we release the first version of testnet, maybe you can have some feeling. Question: DJ, will we get Ledger Nano support right away after main chain? Answer (DJ Qian): I hope so. Will talk to them.
Internet monopolizes benefits, while blockchain distributes benefits
Recently, SLife Co-founder Bin Gui was interviewed by Mrs. Xiong, Co-founder of LianGuan TianXia, a famous blockchain media in China. Mr Gui shared a deep understanding of SLife in this interview. SLife Co-founder Bin Gui Xiong: Welcome to the Blockchain Observation, this time we interview Bin Gui, the co-founder of SLife. Hello, Mr. Gui, you have 12 years of experience in the lifestyle media industry, how can you think of doing a project like SLife? Gui: Because I was working in the media before entrying the Internet (industry) for a startup project - crowdfunding communities. At that time, we were specializing in a thematic crowdfunding for offline assets. However when doing this, we found a particularly powerful thing named Ethereum. We found a form in our industry, which is a ranking list for the highest crowdfunding sum projects in the world. But in 2016, we found the list was quite strange, many projects are crowdfunded based on Ethereum. I remembered the highest-crowdfounding project called The DAO with probably crowdfunding $179 million. Then, in 2017, we found 4 projects of the top 20 in in the list are related to blockchain or crowdfunding based on the Ethereum. We are wondering if something is wrong. Why is there such a change in the world? Then we started to study the blockchain and started a new journey. Xiong:Why do you say that Vitalik Buterin destroyed the original classical Internet crowdfunding industry? Gui: As it can be seen from the most basic data, we used to think that crowdfunding may be just a small but beautiful thing, but we will find that after the Ethereum comes out, the influence of crowdfunding will become very large. Xiong:Could you tell us more about SLife? Gui: In fact, SLife is based on our last project, which was called 'Kaishiba'. Actually SLife is an evolution of our last project. 'kaishiba' is a platform that aimed to help offline assets to raise funds. In' kaishiba', there were many small but beautiful projects such as B & B（bed and breakfast）, restaurants, and cafes. We helped them to look for their supporters from their consumers and some people who have a very high awareness of the founder's idea. Then everyone is connected through a crowdfunding approach with forming a community, in which they can participate in the future. 2000 projects have been run on this platform, but these communities were isolated separately with no effective connection. Till then, we found the blockchain a very good solution to solving the problem, which could re-establish trust mechanism, and then make the value flow,and another goodness is cross-community feature. Today, I think that cross-chain technology will develop soon and the communities between different chains will generate a better communication in the foreseeable future. Xiong:If you use one sentence to describe the SLife project, what do you think it is? Gui: It is hoping to reconstruct business consuption relation. Xiong: We know that SLife conducts a concept of sharing life. How can we distinguish the concept of sharing life and sharing economy? Gui: I think sharing economy is a great concept, representing a very ideal and beautiful wish. In this ideal world, We can take out the spare production materials to help the society solve some problems, such as problems in traveling and accommodation. It will make everyone do something in cheaper as well as more efficient and environmental-friendly approach. But now there is a problem in the existing sharing economy. The deep purpose of the centralized platform is to create greater profits for shareholders,but it runs counter to the idea of environmental protection and high efficiency, because the joint-stock enterprises, especially in the Internet era, cannot help but monopolize to collect more data, and then keep those data in their hands for earning much more money from the data-maker. It is hard to say that this desire is not evil. However in the perspective of blockchain, how to collect less money, and even not collect money is the main point, because no payement is the real development for the community. It is believed that everyone who advocates or even uses these sharing resources is essentially helpful for the community, and they should all be the distributors of community interests. Xiong:So what is the business model of SLife? Gui: In the blockchain world, what people really want is not the business model, but the business methods. The idea of blockchain must be: my community is valuable to the society, and I need to make the community bigger and works better, in which more meaningful economic behaviors are generated. In a way, this model is competing with the system of our mature joint-stock enterprises. Xiong:So how do you subvert the original logic when you carry on the project of sharing life? Gui: Actually, what we hope is that we must re-allocate these resources, re-open these data, and make the data used by the community in deed. Of course, on this basis, it should also include a series of applications. The first is how to help small stores to do marketing. And above that, we also hope that each store can regenerate their own users' pre - sale points that reunite them with their user relationships and consumer relationships. Then we hope that these pre-sale points can flow in the ecosystem. Of course, eventually we hope that there will be some derivative services on this basis. Derivative services can make everyone in the community more transpartently to show some changes, including good places and bad places in the community, and then continue to evaluate the direction that the community should head. Xiong:It is generally seem that the sharing life should be an application, but we know that SLife is not only doing public chain, but also making the application, why it is designed like this? Gui: We have considered to look for a chain directly to make the application, but we had a concern: if we have a larger community, how can we guarantee its benefits? At present, we have not seen some good examples. If we want to truly meet the requirements of our community, we must have our own industry blockchain inside. Our own definition is the industry's main chain, which is regarded as a support for the crowd of the community we want to connect. These demands actually need some customized development. Maybe we will want to do it from the beginning, but this chain is not a chain from 0 to 1. It should be a chain from 1 to N. Our definition of this chain is that it can be upgraded more easily with more modular things, which can integrate some of the best parts of the block chain open source technology and part of our community demands. Xiong:Is this difficult? What is the plan for the mid-term and long term development? Gui: I believe that the difficulty is actually much simpler than doing this from 0 to 1. I think there are many ideal technical geniuses in the blockchain world. They can create one system after another and let them run. And what we want to do is to integrate those proven technologies that have been running for a while into our projects, so that the needs of the application level and the needs on the chain can be better combined. Xiong:Which public chain will you use first? Gui: We are now doing this based on Ethereum, and of course we have changed the consensus mechanism to DPOS. Xiong:How do you think about the public chain now, why do you choose Ethereum instead of EOS? Gui: Ethereum is the public chain which is running the longest time. He has withstood so many people's trials and application tests, also including some hack attacks. We really made a lot of choices. Then we think we still have to use this tested public chain as a bottom chain. Xiong:First use Ethereum, and then what is the next? Gui: Next, we will also look at some new technology developments and some new consensus algorithms. Here I think our CTO is also very powerful. He is a technical genius that is rarely seen in the chain circle, and he also has experience doing the whole industry in the chain circle, so we think it should not be particularly worried at this piece. Xiong:Then how do you think about the public chain except ETH (Ethereum), and which ones are more optimistic? Gui: I think these technologies are all very good, but which is the usefulness of these technologies? It depends on the specific application scenarios; whose DAPP really runs successfully, associating with the real economy and our real life. I think this is the most valuable. Xiong: You just said that many Internet platforms have their limitations. Is SLife also a platform like a traditional Internet platform? Gui: We definitely don't want to make SLife only be a platform. If we do it as a platform, we must think that it is a community. In fact, when we returned to the beginning of Internet, it was actually a decentralized world, but then with technology development, we found that after the formation of Internet centralization, it is the best monopoly tool.Actually, there are only seven companies in the world ,thFA MGA (Facebook, Apple, Microsoft, Google and Amazon), which are in Europe and America, in China there are only two companies,ATthus (Alibaba and Tencent). We can also look at the startup osn China now. For example, ,bike, OFO and other startups like them, they grow big so quickly. InEventuallythey are acemerghe byse big companies. The world is an ostill the samesiness giants have taken too many resources in .re is no chance if for startupswe still use the old salmethode s and thoughtsust think about how to create a community or how to take out t use ofonopolistic data, not only in our own community, but also can dosharesome nities which have similar idea, and sild a new world together. I think this is the best chanceway to develop the coanity is big enough and runs woperatesenoughhould have a more impartial system to decide its own developing direction, not only depend on ousr decision. Xiong:So is SLlife a decentralized ecosystem? Gui: Yes, we want to make it as an ecosystem, we feel that only by making an ecosystem, it will have a greater value. If it is still a centralized product, the limitations will be very obvious.Meanwhile it will lure us to face too much temptation, it is testing human nature. Xiong:How do you face the temptation ? Gui: In the beginning, our team , all of the investors and the earliest members of our first community need to reach a consensus. Thus, what we are doing, whether we use business methods to achieve shareholder profits, or use business methods to fulfill a greater social value，at the same time to maximize our own value. All of the stakeholders should reach a consensus. I have always been considering what is the value of a blockchain project? Basically there are some factors that must be considered. Firstly, how many users or community members are using your chain.Secondly, how many times of the transactions are recorded on the chain. Lastly, how much is the market capital flows on this chain? These three factors will definitely affect the value of the whole chain. We all hope that these three factors can all become more. Fortunately, we really have offline application scenarios, and we really have a deeper understanding of offline business,therefore we are very confident. Xiong:Do you use the data and users from "Kaishiba" directly? Gui: We are in cooperative relationship with "Kaishiba". We feel that the world is really big. "Kaishiba" is a very good platform, but it is also a small but beautiful platform. I think in this world, the new place is the most worthwhile place to explore, and it is worthwhile for us to fight for it. Xiong:Decentralization solves fairness issue,but how to solve efficiency issue? Gui: I'd like to take an example, nowadays,what is the most efficient way to buy a thing? It is not necessarily to buy it on Taobao; it is likely to see someone's picture in your circle of friends on Wechat. I always believe that communication among people is the most efficient thing. Xiong:What kind of people do you think will have a try on SLife at the very beginning? Gui: The first area to enter SLife is guesthouse,especially high-end country guesthouse. Our users can be understood as users of consumption upgrade. They may have certain ideas about life. They are looking for different, lovely things and some unique experience.This the most basic user portrait for us. Currently, there are about 100 million users like this in China. Xiong:What revolution do you think this project will bring to the real economy? Gui: In fact, we find that especially for offline business, small but beautiful business is very difficult to survive, because offline business relies on the big platform too much.However, big platform is friendlier to the chained offline business. It is unfriendly to small but beautiful, warm and independent shops which have their own community attributes.Because they can't consider these non-standard products. This problem is particularly obvious in the country guesthouses. In general, for accommodation and hotels，there is maybe more than 80% of the flow coming from these big platforms , but for country guesthouses at least 80% of the flow is not from these platforms. Instead,they gets flow from a variety of ways, because they are too small.Then we have always been thinking, are these small shops really not supposed to survive in this world? In the future,if there are all of the chained brands we know on a street, how boring the world will be! Xiong:So actually, are you playing an intermediary role? Gui: We want to provide a tool for them to unite to live better. Xiong:From the perspective of investors, how do you like token economy? Gui: I think that blockchain with token economy is the new world that I have seen so far. A particularly important thing is that the token economy is really connecting people. A good token economy will make people to resist some bad things of human nature, and make people to do some good things.No matter basing on what kind of consideration, it will finally completel the most basic vision of community, then there is a very basic thing you must understand about the token economy. That is, the thing, which is good for the community and has the greatest value for the community should receive the most tokens. Xiong:What kind of role do you think the token economy will play in the entire ecosystem of SLife in the world you have just envisioned? Is it necessary? Gui: Yes, it must have token economy. If we talk about mining, actually all users are mining. Why do we need it.We need to put all the interests of the users and the interests of the community together. We need to tell everyone that the community shares benefits and contribution; this is the most basic principle. It is hard to establish a community if there is no such trust or such things that we can move forward together. Xiong: You are from the media crossover to the Internet, from the classical Internet crossover to the blockchain. You have multiple identities. Can you talk about what is the latest cognition you have druing the transformation, especially after joining the blockchain industry? Gui: This may be my personal cognition of the world of startups. For example, if you do a small business, I think it is not a startup in a narrow sense. When it joins the blockchain world, I feel that there is a demand to increase the learning ability because there are so many new things in this world, but if in the Internet field, there is never such a program at this stage.Because in the world of blockchain, the consensus is priority. We must tell everyone what we want to do, instead of doing something first like before. Ok, let's go back to the SLife project. It appeares till this year. What is the plan for this year? This year we hope to have some communities in the early stage, including our minimized products come out. Our early stage community should include merchants at B-side and consumers at C-side. Through the products, we will transform them into DAPP slowly within this year. Xiong:Could you talk about the vision of SLife? Gui: SLife's slogan is "connecting a beautiful life", I am so happy to have a belief with our partners, as well as our team.There are many small things in this world, such as a guesthouse, a restaurant, but if they can connect with each other, they can become very strong. In this world, we will connect with more blockchain communities. We want to bring more people who don’t know the blockchain into this world. Today it is very small, but we will work together to make the world stronger and better! https://preview.redd.it/dbbj0lt8ene11.jpg?width=960&format=pjpg&auto=webp&s=5a371dc88a9e1b360fe1d579eeef08da6b77d43e
Executing functions on other contracts with multisig wallets, or, multisig functions on Ethereum
TL;DR
Multisig wallets are typically used to handle ether and ERC20/ERC223 tokens, but they can also be used to interact with other smart contracts, including requiring that a function from another smart contract cannot be executed without multisig approval. By sending raw transaction data in the data input of a transaction, signatories can use multisig contracts to execute a function from a separate contract. WARNING We dive into Solidity code for multiple smart contracts. Some experience with Solidity will allow you to get the most from this article but is not required to follow along.
Background
Why multisig wallets aren't actually wallets
To refer to a multisig (multisignature) wallet as a "wallet" is technically a misnomer. In Ethereum, a multisig "wallet" is actually a smart contract. Both a smart contract and a wallet are identified with a unique address: an unsigned 256-bit integer. However, a wallet has a private key, which is required to sign transactions. A wallet's address can be generated with its private key, which is why a wallet's address is also referred to as its public key. Because a smart contract lacks a private key (and is therefore unable to sign transactions), it does not implicitly have the ability to send ether. This means that, by default, if someone sends ether to the address of a smart contract (which is technically a valid address), the ether becomes inaccessible. Developers and investors alike have watched etherscan.io in horror as various smart contracts collect tokens, forever lost from the market. This is how the ERC223 proposal came about: it is a clever way to cause a transaction to fail if tokens are sent to a contract that can't handle them. But this is only to prevent sending tokens to contracts that can't handle them. If a smart contract is intentionally going to be used to handle ether or tokens, it needs to have that functionality written into it. Some basic ways to do accomplish this are through the selfDestruct() function for ether and token fallback function for tokens.
What multisig contracts do
Multisig contracts provide an alternate security measure for storing cryptocurrency by requiring multiple authorized signatories to confirm a proposed transaction before the transaction can execute. We use the word "alternate" because multisig contracts don't reduce risk—they reduce a kind of risk and replace it with another, so the decision to use such a wallet is a strategy decision according use-case, not something that every crypto user necessarily needs.
Traditional use-cases for multisig contracts
The particular risk multisig contracts seek to alleviate is the loss of a private key. With wallets, if you lose access to your private key (including any backup seed, phrase, or password), you lose access to its assets. A multisig contract effectively allows multiple wallets to have authority over a single set of assets. If one private key is lost, remaining wallets can still access the set of assets. If the ownership of a private key is compromised, it alone does not have the authorization to unilaterally access the assets.
How to get ether from a multisig contract
When a new instance of the contract is deployed to the blockchain (depending on which multisig contract you use), you typically specify the public keys that represent which wallets will be authorized signatories, as well as how many of the signatories are required to authorize a proposed transaction. Any wallet can send ether to the contract, but a minimum number of signatories are required to get ether out of the contract.
Risk when using multisig contracts
The trade-off compared to using a traditional wallet is that you take on the risk that your tokens will stolen or permanently locked in the smart contract through hackers discovering an exploit in the contract code. See the Parity "wallet" (smart contract) hack. The code for previously-found exploits has been patched for subsequent smart contracts. Every new exploit acts as a learning experience for the Ethereum community. The mistakes of one contract become the education for a series of new contracts, including GNOSIS, ConsenSys, and Mist wallet. Multiple growing communities are at work to develop the robustness of these technologies. However, just because a new exploit hasn't been found in newer multisig contracts doesn't mean another doesn't exist. If you are going to use a multisig contract, you must consider the use-case and its associated risk.
What we need from a multisig contract at Woolf
What if we don't only want to use a multisig contract to handle ether transactions? What is we want certain functions to only be executable when approved by a certain number of signatories? Let me give you two examples:
We want to transfer ERC20 or ERC223 tokens held by the smart contract with the same security measures afforded to a multisig contract handling ether.
We want to override standard rules in a smart contract according to some network vote or in response to a legal requirement.
Both of these examples call for functionality that we at Woolf want to build into some of our smart contracts. For the first example: because we have an ERC223 token, we want those held in a multisig contract like ether. For the second example: part of our company organization involves an entity called the Woolf Reserve. The Woolf Reserve holds a large number of ERC223 tokens from the moment tokens begin to be sold. The Reserve makes available 0.035% of its token balance available to withdraw by an authorized address once per month to fund ongoing blockchain development. But what if we discover a bug in our smart contract? We would need to withdraw the entire token balance at once and move it to a new contract version of the Reserve. We call this function forceWithdraw(). But we don't want anybody to be able to call this. Typically in Solidity, we use the adminOnly() or onlyOwner() modifier for this. But we also don't want a single person within the organization to have the power over all those tokens. What we need is for multiple pre-approved signatories and no one else to be able to call this function upon approval, where signatories are separated by business domain: core leadership, management, and legal authority.
How to execute multisig contract functions
I'll use GNOSIS's MultiSigWallet as an example. We'll look at the following functions:
submitTransaction(), confirmTransaction(), revokeConfirmation(), and executeTransaction() functions can be called by an authorized signatory. addOwner(), removeOwner(), and replaceOwner() can only be executed if the sending address is the multisig contract itself, through the modifier, onlyWallet(), which functions like onlyOwner(). This is a protection mechanism. If one private key was compromised and the individual had authority to add, remove, and replace owners unilaterally, much of the purpose of a multisig contract is defeated. The only way to call a function from the contract itself is for a signatory to propose it by calling submitTransaction().
How to use submitTransaction()
The submitTransaction() function takes three parameters: destination (type address), value (type uint), and data (type bytes). When you're simply trying to send ether from the smart contract to some address, you enter the address you want to send ether as to, then how much you want to send (denominated in wei) for value, then leave the data section empty. But if you're trying to execute a function from the multisig contract, like addOwner(), it's a different process. To execute a function of the multisig contract that has the onlyWallet() modifier, the to address must be the contract itself. Think of this as an individual submitting a proposal to the contract. The value (of ether) is 0 or left blank. Thedata section is where things get interesting. There, you input function information in the form of hex code. Think of this section as the thing that gets executed when a transaction is approved by the required signatories. If you want that function to be addOwner(), then the hex code of the addOwner() and associated parameters is submitted within the data section. The same is true for removeOwner() and any other function with the onlyWallet() modifier. In this example, we will submit a new transaction to add an owner (signatory). Here's what that looks like:
to: 0x0000000000000000000000000000000000000000000000000000000000000001 // multisig contract address amount: 0 // amount of ether data: 0x7065cb480000000000000000000000000000000000000000000000000000000000000002 // addOwner(address owner)
You may be wondering about what's going on with the data section. It's the hash of the addOwner() function, including the parameter being passed to it (in this case, an address to add). 0x7065cb48 = addOwner() hash 0000000000000000000000000000000000000000000000000000000000000002 = the address 0x0000000000000000000000000000000000000002 with the 0x removed then converted to a 256-bit value. This function is being proposed by an existing owner, or signatory, using submitTransaction(). Other owners use confirmTransaction() to confirm the proposal by passing in the automatically-generated ID associated with the proposed transaction as a parameter. The minimum number of required owner approvals, as set in the constructor, must confirm the proposal before the proposed transaction (the data portion) will be executed. Once the minimum has been met, any owner can call executeTransaction(). This will cause the multisig contract to execute the proposed transaction, including what was in the data section.
Note: executing the transaction proposed to the multisig contract causes msg.sender to be the contract address, not the address of any of the contract owners (or signatories). This is crucial for executing functions in separate contracts with regard to contract ownership. More on that later.
How to get the hash of a function that you want to propose to a multisig contract with submitTransaction()
Before you can propose a transaction in the form of a hash, you need to know what that hash is. I've found that the easiest way is to use a website like MyEtherWallet. This may seem like a lot of steps, but it becomes a relatively rapid process after you understand the workflow.
From MyEtherWallet, Choose the appropriate network you want to use (i.e. MainNet; a test network like Rinkeby or Ropsten, etc.).
Click the Contracts tab and make sure you are on the Interact with Contract sub-tab.
Type in the contract address of your multisig contract. Ignore "Select Existing Contract".
Type in the ABI / JSON Interface of the contract.
An easy way to get the ABI / JSON Interface is to use Remix, the Solidity IDE. In Remix, from the Compile tab, paste your code, click Start to compile, then click Details. A window will pop up. Scroll down to the section labeled ABI. Copy that value to the clipboard and paste it into the corresponding input on MyEtherWallet.
Once you have inputted the contract address and the ABI on MyEtherWallet, click Access to see available functions for the contract.
Select from the dropdown menu the function you want to propose.
Type in the values for any parameters you want to submit with the function, like an address, string, uint256, etc.
Select how would you like to access your wallet, e.g. MetaMask / Mist, Ledger Wallet, TREZOR.
The wallet you use doesn't matter, you just need to go through these steps. You won't need to actually execute the transaction. You will cancel the transaction procedure at the very last step and won't need to spend gas.
Click Write.
Leave Amount To Send as 0. Set a gas limit like 300000 so you get past any warning in MyEtherWallet.
Click Generate Transaction. This doesn't execute the transaction yet. It first shows the transaction data for the Raw Transaction and Signed Transaction.
Scroll through the content of Raw Transaction and copy the content associated with the key data.
In the above example, the data portion to copy is: 0x7065cb480000000000000000000000000000000000000000000000000000000000000002
Don't select Yes, I am sure! Make transaction. Exit instead. You only needed to copy the data.
You now have the data necessary to include when submitting a transaction. By including it in the submitTransaction()'s data section, you can execute that function through the multisig contract.
Submitting the transaction with MyEtherWallet
You don't have to use MyEtherWallet for submitting a transaction, but if you do, here are the remaining steps to carry it out:
Still on the Contracts tab, choose the submitTransaction() function from the dropdown below Read / Write Contract.
Set the multisig contract address as the destination, 0 as the value, then paste the copied data for data. We are actually going to submit a transaction this time.
Select write
Select Generate Transaction.
After reviewing the transaction data, select Yes, I am sure! Make transaction. This may prompt a further confirmation from the wallet you are using.
How to execute functions on other contracts through a multisig contract
Follow the previous steps for executing a function as part of the multisig contract, but with the following changes:
Instead of the multisig contract address as the to parameter, make it the contract you want to call a function from in a multisig manner.
Instead of using the hash of the multisig contract function as the data parameter, make it the hash of the function you want to call from an external function, specifically, of the contract address you just used as the to parameter.
Just like using MyEtherWallet to get the data from multisig contract functions to use in the data parameter of submitTransaction() (like for addOwner()), you can also use it to get the hash of the function you want to call from an external function. Load that contract's address and ABI, then follow the steps to get the get the hash of the function and function arguments. Now, signatories confirm the transaction with the corresponding internally-generated ID. This process allows multisig contracts to execute functions of other contracts.
Securing contract functions with a multisig contract.
onlyOwner() from OpenZeppelin is a popular modifier that prevents functions from being executed unless the address of msg.sender is the owner. Because msg.sender of a multisig contract is the contract address, we can use this to make the contract owner not a typical wallet, but the multisig contract itself. This way, the function cannot be called unless it is first proposed, confirmed, and executed through a multisig contract, like how the modifier onlyWallet() is used within the multisig contract. Because only wallets can sign transactions, you cannot use a multisig contract to create a contract. You can, however, set the multisig contract address as the owner at the instantiation of some other contract. If you want to change the existing owner of a contract, you can call transferOwnership() and set the address of the new owner as the multisig contract address.
Bringing it all together
By sending raw transaction data in the data input of a transaction, signatories can use a multisig contract to execute a function from a separate contract, offering an alternative security measure or business strategy decision according to your organization's needs. You can review Woolf's latest smart contracts on GitHub, the white paper, light paper, and token paper on the Woolf website, or join the conversation on Telegram.
Hi, I wanted to create a quick way for individuals and teams to get up and running developing Ethereum Dapps with Solidity. This is a complete development environment packaged as a Docker image you can simply boot into via a script. Truffle provides the core Dapps framework. For those that prefer developing via the terminal there is a VIM editor pimped with Solidity support and Nerd Tree, and SSH server and tmux allow pair programming. For those that prefer an in-browser IDE, Cloud9 has been installed, which has a collaboration mode for pair programming. Continuously updated. Current instructions... 1) Install Docker & open terminal (use special Docker terminal on Mac) 2) Download scripts from https://github.com/dominicwilliams/instant-dapp-ide/tree/masterun 3) Add an "ssh" sub-folder with an "authorized_keys" file. Add public keys of any pair programmers you want 4) Edit run-instance.h so the docker image mounts your source folder 5) $ ./fwd-localhost-to-instance.sh 6) $ ./run-instance.sh Source code at https://github.com/dominicwilliams/instant-dapp-ide Enjoy! Ping me with feature requests via https://twitter.com/dominic_w
___ _ _ ____ ___ ____ _____ |_ _|_ __ ___| |_ __ _ _ __ | |_ | _ \ __ _ _ __ _ __ |_ _| _ \| ____| | || '_ \/ __| __/ _` | '_ \| __| | | | |/ _` | '_ \| '_ \ | || | | | _| | || | | \__ \ || (_| | | | | |_ | |_| | (_| | |_) | |_) | | || |_| | |___ |___|_| |_|___/\__\__,_|_| |_|\__| |____/ \__,_| .__/| .__/ |___|____/|_____| |_| |_| Build 16-01-28.1 *** TRUFFLE *** -- Dapp and contract development environment, testing framework and asset pipeline -- Solidity language docs: http://solidity.readthedocs.org/en/latest -- Truffle docs: https://github.com/ConsenSys/truffle -- eth-testrpc included so tests run on a simulated blockchain ---- $ /uslocal/bin/testrpc -d 0.0.0.0 -- QUICK START! ---- $ mkdir my-new-project ---- $ cd my-new-project ---- $ truffle init ---- $ truffle test ---- $ truffle serve ---- Open Web browser http://localhost:8080/ (port forwarding must be running) *** VIM *** -- Editor preconfigured with Solidity syntax highlighters, Nerdtree etc -- Vim cheat sheet: http://vim.rtorr.com/ -- QUICK START! ---- $ vim ---- \nt // open nerdtree's file browser ---- ctrl W // move cursor to desired window/pane *** TMUX *** -- Keep multiple shell sessions open in split screen -- Tmux cheat sheet: https://gist.github.com/MohamedAlaa/2961058 -- Manual, docs etc: https://tmux.github.io/ -- QUICK START! ---- $ tmux new -s pair // named session pair programmers can join ---- ctrl B c // create new shell window ---- ctrl B // select window
Proposal of simple pragmatic security patterns in solidity
I'd like to start a collection of simple, pragmatic programming patterns which help to make solidity contracts more secure. These ideas are not my own, I collected them from memory from various sources, please add a citation of the original poster if any. I'm not a solidity expert, just an interested guy, so forgive me bugs, errors, inconsistencies! Some relevant links: * https://blog.ethereum.org/2016/06/19/thinking-smart-contract-security/ * http://hackingdistributed.com/2016/06/22/smart-contract-escape-hatches/ Please feel free to correct / modify / post new ones, I'll try to collect the essence in updates to this post! Safe send pattern Maybe this is the most urgently needed pattern. Basically you have to address these issues: 1. Prohibit reentrancy 2. Avoid gas issues 3. Keep clean state records in case send fails. So this would be a proposal for a safe send pattern: http://pastebin.com/Lph5rdK4 (still without solution for the gas issue) Bookkeeping state invariants A contract should implement a proper, internal bookkeeping of the most important state variables which is verifiable by the contract itself: http://pastebin.com/HpGfw07S Naming Conventions Event names should be preceeded by some Prefix like "LOG_".
Verbose Wallets The standard multisig wallet is extremly hard to track. Look at the curator wallet. It took some people much time to reengineer the function calls. This is due to the fact that arbitrary code can be executed; the wallet only storing a hash of the to-be-called code. So if you want to know what code is called, you have to find the first transaction creating the hash and then dissassemble it. Very cumbersome. The wallet should contain links to verifiable function source code for the called code. Therefore a standard multisig wallet should be restricted to calling some predefined functions only and it should be very verbose on which actions the owner are performing. Sample Code: still looking for; original code is here https://raw.githubusercontent.com/ethereum/dapp-bin/mastewallet/wallet.sol Escape hatches as proposed by Bill Marino http://hackingdistributed.com/2016/06/22/smart-contract-escape-hatches/
I'd like to start a collection of simple, pragmatic programming patterns which help to make solidity contracts more secure. These ideas are not my own, I collected them from memory from various sources, please add a citation of the original poster if any. Please feel free to correct / modify / post new ones, I'll try to collect the essence in updates to this post! Safe send pattern Maybe this is the most urgently needed pattern. Basically you have to address these issues: 1. Prohibit reentrancy 2. Avoid gas issues 3. Keep clean state records in case send fails. So this would be a proposal for a safe send pattern: http://pastebin.com/Lph5rdK4 (still without solution for the gas issue) Bookkeeping state invariants A contract should implement a proper, internal bookkeeping of the most important state variables which is verifiable by the contract itself: http://pastebin.com/HpGfw07S Naming Conventions Event names should be preceeded by some Prefix like "LOG_".
Verbose Wallets The standard multisig wallet is extremly hard to track. Look at the curator wallet. It took some people much time to reengineer the function calls. This is due to the fact that arbitrary code can be executed; the wallet only storing a hash of the to-be-called code. So if you want to know what code is called, you have to find the first transaction creating the hash and then dissassemble it. Very cumbersome. The wallet should contain links to verifiable function source code for the called code. Therefore a standard multisig wallet should be restricted to calling some predefined functions only and it should be very verbose on which actions the owner are performing. Sample Code: still looking for; original code is here https://raw.githubusercontent.com/ethereum/dapp-bin/mastewallet/wallet.sol Escape hatches as proposed by Bill Marino http://hackingdistributed.com/2016/06/22/smart-contract-escape-hatches/
Binance has acquired DappReview, an analysis platform that gives data-driven analysis and promoting providers to blockchain-based decentralized functions (dapps). The acquisition of Beijing-based DappReview will assist the world’s main trade by quantity to additional develop its current dapps and create new blockchain use circumstances, mentioned Viktor Radchenko, founder at Binance’s ... Binance is at it again, making headlines in the cryptocurrency world. Now, Changpeng Zhao has issued a proclamation that the exchange is creating its own smart contract blockchain that may end up as a rival to Ethereum, which, as a smart contract leader and cryptocurrency ecosystem, is now one of the biggest names in crypto. The 2020 Q2 Dapp Market Report published by analytics website Dapp.com showed that the number of active DApp users on Ethereum (ETH) increased by 97% in Q2 to reach an all-time high of 1,258,527. In addition, the transaction volume of ETH DeFi DApps reached $5.7 billion in June, making up over 97% of the entire DApp volume on the network. Binance has been acquiring crypto-based startups and it acquired Dapp Review recently. Dapp Review is an analytics firm that looks into network activity, token usage and how distributed apps are adopted. The firm is able to monitor over 3,900 dApps on 13 public blockchains thereby fostering popularization. Binance Picks Up Ethereum, EOS, Tron, etc. dApp Analytics Firm According to an announcement published to Binance’s official blog on Tuesday morning, the company has formally acquired DappReview, “the world’s leading information and analytics platform for blockchain-based decentralized applications (dapps).” The sum of the deal was not disclosed, though the platform had over 300,000 ...
Build Your First Smart Contract and Dapp On Ethereum With Embark (and Unit Tests!) Solidity Tutorial
Programming on Ethereum is actually really easy, and with this series you'll be able to create your own Ethereum dapps even if you are a beginner. Make sure you subscribe and hit the notification ... Does Ethereum do more to move the market than Bitcoin? We also look at the following 10 ERC-20 projects: 1. Gnosis 2. Status 3. Aragon 4. Band Protocol 5. Augur 6. Chainlink 7. Kyber Network 8 ... Ethereum ETH: Price analysis, prediction, and Coronavirus News with Elon Musk Ethereum 1,977 watching Live now DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin - Duration ... Dapp User Onboarding & Teardown with State of the DApps - Duration: 36 ... 484 views; 10 months ago; 5:41. Ethereum News Update 6/12 - Duration: 5 minutes, 41 seconds. 1,346 views; Streamed 3 ... EtherHives New Ethereum Dapp Alert! EtherHives: https://bit.ly/EtherHivesDapp EARNINGS DISCLAIMER: This video is for educational and entertainment purposes only.
