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I don't feel like people quite appreciate what a huge deal the eWASM implementation for ETH2 is going to be
TLDR: Ethereum has plans to support writing smart contracts with any programming language, using the same technology that's going into WebAssembly, and that's really cool One argument I regularly see from other smart contract platforms is that they're going to support multiple languages or a more popular programming language for their smart contracts. Not that developers can't pick up Solidity, once you know one language the core programming concepts carry over, but it's definitely a significant barrier to entry, especially when it's literally the only use case for that language. eWASM is a great solution, create a virtual machine with the same "architecture" that can run platform-independent byte-code compiled from any language, and better yet, just piggy-back off all the work developers are already doing to get the Web independent of JavaScript. It's a great move and eliminates what is in my opinion one of the remaining roadblocks for Ethereum development to skyrocket.
Decentr ($DEC) - foundational cross-chain and cross-platform DeFi protocol
SUMMARY
Decentr is a protocol designed to make blockchain/DLT mainstream by allowing DeFi applications built on various blockchains to “talk to each other”. Decentr is a 100% secure and decentralised Web 3.0 protocol where users can apply PDV (personal data value) to increase APR on $DEC that users loan out as part of of our DeFi dLoan features, as well as it being applied at PoS when paying for stuff online. Decentr is also building a BAT competitor browser and Chrome/Firefox extension that acts as a gateway to 100% decentralised Web 3.0
Allows DeFi Dapps to access all Decentr’s dFintech features, including dLoan, dPay. Key innovation is that the protocols is based on a user’s ability to leverage the value of their data as exchangeable “currency”.
KEY CONCEPTS
Decentr is building foundational chain-agnostic protocols that will support “true” 100% DeFi Dapps, a 100% secure and decentralised, user-centric alt economy. DeFi dApps inter-connected by Decentr can talk to each other and share PDV (personal data value) of their users. PDV is best described as a personalized “exchange rate” (in a sense social reputation where more effort leads to more rewards and NOT more capital to more rewards. ) between currencies that users apply at point-of-sale to make the cost of goods and services cheaper online. PDV is applied to the APR users earn on $DEC (native token) that they hold that they loan out as part of the investing pool. PDV will also allow uncollateralized loans on their dLoan platform, and also on platforms like Aave and Compound.
Decentr will implement ZKsync to get super cheap and super fast transactions across the ETH network. It is also working with HoloChain and Tomochain to allow connect their DeFi ecosystem to the Ethereum DeFi ecosystem. Decentr has DEEP TIES and a PARTNERSHIP with Holochain: https://medium.com/@DecentrNet/decentr-holochain-ama-29d662caed03
Decentr is also building a browser and Chrome/Firefox extension - a gateway that “transitions” Web 2.0 into a 100% decentralised Web 3.0 via their suite of decentralised dFintech and dCommunications features. The browser adds a 100% decentralised “user layer” to current blockchain protocols so that applications built on blockchain can actually “talk to each other”. The browser uses encryption all the time and the power of blockchain to keep private keys safe. Browser will offer a more robust and innovative type of blockchain storage and caching that is much faster than VPN or TOR. It will allow surfing .onion addresses as well as the regular ones. >>BAT browser 400m marketcap, DEC marketcap 4m<<
Decentr is researching a hardware application, powered by Decentr software, that would greatly enhance current IoT networks. It’s called a “Smart Chip Node” (SCN) and will adhere to 4G LTE standards (with in-built 5G capability), which means connectivity between devices will match or exceed current speed and connectivity, dramatically improving stability and coverage of standalone devices, such as a laptop or tablet, as well as IoT devices, such as home routers and modems.
Decentr uses Coinbase API to optimise integrated implementation of the user layer and Blockchain as a Service (BaaS) to allow users to leverage cloud-based solutions to build, host and use their own blockchain apps. Tierion’s technological infrastructure, the Chainpoint Proof protocol, will come into play whenever a user adds something in Tierion’s data store. Hyperledger Fabric and R3 Corda private blockchains are used as an immutable transaction database for data transfers, including the following tech: R3 Corda, Hyperledger Fabric, Ansible, Bitbucket Pipelines, AWS, Node.JS, GoLang, Kotlin and CouchDB.
Implements a system of layered security protocols based on a radically-new software architecture that combines Elliptic Curve Cryptography (ECC)4 and Sobol sequencing with a n-dimensional chain as part of AI-enhanced, platform-wide community consensus mechanism — a mechanism that assigns mutually agreed value to data and user security protocol upgrades (further encouraging enhanced data integrity) by deploying a Delegated Proof of Stake (DPoS) protocol.
Bank of England has reached out to Decenr to discuss the potential of a UK CBDC upon hearing about the potential of their tech. Decentr is consistent with their own R&D into a "dGBP" and they requested a top-level document for review >> Decentr created this proposal: https://decentr.net/files/Decentr_Consultancy_Doc_UK_CBDC.pdf
REVENUE MODEL
A fee is charged for every transaction using dPay whereby an exchange takes place between money (fiat and digital) and data, and vice versa, either as part of DeFi features or via a dApp built on Decentr. They are launching pilot programmes in the following industries:
Banking/PSP Industry: On Product launch, due to Decentr’s powerful PSP connections (including the worlds #2 PSP by volume), a medium-scale pilot program will be launched, which will seed the network with 150,000 PSP customers in primarily the Spanish/LAC markets, generating revenue from day one.
“Bricks and Mortar” Supermarket/Grocery Industry: Decentr aims to ensure the long-term competitiveness of “bricks and mortar” supermarkets against online-only grocery retailers, such as Amazon, by a) building secure tech that allows supermarkets to digitise every aspect of their supply chains and operational functions, while b) allowing supermarkets to leverage this incredibly valuable data as a liquid asset class. Expected revenue by Year 5: $114Mn per year.
Online Advertising Industry: Decentr’s 100% decentralised platform credits users secure data with payable value, in the form of PDV, for engaging with ads. The Brave browser was launched in 2012 and in 8 years has reached over 12 million monthly active users, accented by as many as 4.3 million daily active users.
TOKEN $DEC AND SALE
Decentr recently complete their token sale on a purchase portal powered by Dolomite where they raised $974,000 in 10 minutes for a total sale hardcap of 1.25M. The $DEC token is actively trading on multiple exchanges including Uniswap and IDEX. Listed for free on IDEX, Hotbit, Hoo, Coinw, Tidex, BKex. Listed on CoinGecko and Coinmarketcap. Listed on Delta and Blockfolio apps. ➡️ Circulating supply: 61m $DEC. ➡️ Release schedule and token distribution LINK -> NO RELEASE UNTIL 2021.
A tradeable unit of value that is both internal and external to the Decentr platform.A unit of conversion between fiat entering and exiting the Decentr ecosystem.A way to capture the value of user data and combines the activity of every participant of the platform performing payment (dPay), or lending and borrowing (dLend), i.e a way to peg PDV to tangible/actionable value.Method of payment in the Decentr ecosystem.A method to internally underwrite the “Deconomy.
The effects of the web by a number of companies have seduced a large number of users as these companies keep their data to prevent them from searching for alternatives. Likewise, these huge platforms have attracted applications to build their highest ecosystems before either severing access or actively opposing their interests when the applications became so successful. As a result, these walled gardens have effectively hindered innovation and monopolized large sections of the web. After the emergence of blockchain technology and decentralized cryptocurrencies, the need for applications to support decentralization has emerged. Several blockchain-based companies, applications and platforms have appeared in decentralization. In this research report, we will explain the approach adopted by the NEAR decentralization platform in designing and implementing the basic technology for its system. Near is a basic platform for cloud computing and decentralized storage managed by the community, designed to enable the open web for the future. On this web, everything can be created from new currencies to new applications to new industries, opening the door to an entirely new future.
1. INTRODUCTION
The richness of the web is increasing day by day with the combined efforts of millions of people who have benefited from “innovation without permission” as content and applications are created without asking anyone. this lack of freedom of data has led to an environment hostile to the interests of its participants. And as we explained in the summary previously, web hosting companies have hindered innovation and greatly monopolized the web. In the future, we can fix this by using new technologies to re-enable the permissionless innovation of the past in a way, which creates a more open web where users are free and applications are supportive rather than adversarial to their interests. Decentralization emerged after the global financial crisis in 2008, which created fundamental problems of confidence in the heavily indebted banking system. Then the decentralized financial sector based on Blockchain technology has emerged since 2009. Decentralized Blockchain technology has made it easy for decentralized digital currencies like Bitcoin to exchange billions of dollars in peer-to-peer transfers for a fraction of the price of a traditional banking system. This technology allows participants in the over $ 50 billion virtual goods economy to track, own and trade in these commodities without permission. It allows real-world goods to cross into the digital domain, with verified ownership and tracking just like that of the digital. By default, the Internet where freedom of data enables innovation will lead to the development of a new form of software development. On this web, developers can quickly create applications from open state components and boost their efforts by using new business models that are enabled from within the program itself rather than relying on parasitic relationships with their users. This not only accelerates the creation of applications that have a more honest and cooperative relationship with its users, but also allows the emergence of completely new business built on them. To enable these new applications and the open web, it needs the appropriate infrastructure. The new web platform cannot be controlled by a single entity and its use is not limited due to insufficient scalability. It should be decentralized in design like the web itself and supported by a community of distributors widely so that the value they store cannot be monitored, modified or removed without permission from the users who store this value on their behalf. A new decentralization technology (Blockchain), which has facilitated decentralized digital currencies like Bitcoin, has made billions of dollars in peer-to-peer transfers at a fraction of the price of the traditional banking system. This technology allows participants in the $ 50 billion + virtual goods economy to track, own and trade in these goods without permission. It allows real-world goods to cross into the digital domain, with verified ownership and tracking just like that of the digital. Although the cost of storing data or performing a calculation on the Ethereum blockchain is thousands and millions of times higher than the cost of performing the same functionality on Amazon Web Services. A developer can always create a “central” app or even a central currency for a fraction of the cost of doing the same on a decentralized platform because a decentralized platform, by definition, will have many iterations in its operations and storage. Bitcoin can be thought of as the first, very basic, version of this global community-run cloud, though it is primarily used only to store and move the Bitcoin digital currency. Ethereum is the second and slightly more sophisticated version, which expanded the basic principles of Bitcoin to create a more general computing and storage platform, though it is a raw technology, which hasn’t achieved meaningful mainstream adoption.
1.1 WHY IS IT IMPORTANT TO PAY THE EXTRA COST TO SUPPORT DECENTRALIZATION?
Because some elements of value, for example bits representing digital currency ownership, personal identity, or asset notes, are very sensitive. While in the central system, the following players can change the value of any credits they come into direct contact with:
The developer who controls the release or update of the application’s code
The platform where the data is stored
The servers which run the application’s code
Even if none of these players intend to operate with bad faith, the actions of governments, police forces and hackers can easily turn their hands against their users and censor, modify or steal the balances they are supposed to protect. A typical user will trust a typical centralized application, despite its potential vulnerabilities, with everyday data and computation. Typically, only banks and governments are trusted sufficiently to maintain custody of the most sensitive information — balances of wealth and identity. But these entities are also subject to the very human forces of hubris, corruption and theft. Especially after the 2008 global financial crisis, which demonstrated the fundamental problems of confidence in a highly indebted banking system. And governments around the world apply significant capital controls to citizens during times of crisis. After these examples, it has become a truism that hackers now own most or all of your sensitive data. These decentralized applications operate on a more complex infrastructure than today’s web but they have access to an instantaneous and global pool of currency, value and information that today’s web, where data is stored in the silos of individual corporations, cannot provide.
1.2 THE CHALLENGES OF CREATING A DECENTRALIZED CLOUD
A community-run system like this has very different challenges from centralized “cloud” infrastructure, which is running by a single entity or group of known entities. For example:
It must be both inclusive to anyone and secure from manipulation or capture.
Participants must be fairly compensated for their work while avoiding creating incentives for negligent or malicious behavior.
It must be both game theoretically secure so good actors find the right equilibrium and resistant to manipulation so bad actors are actively prevented from negatively affecting the system.
2. NEAR
NEAR is a global community-run computing and storage cloud which is organized to be permissionless and which is economically incentivized to create a strong and decentralized data layer for the new web. Essentially, it is a platform for running applications which have access to a shared — and secure — pool of money, identity and data which is owned by their users. More technically, it combines the features of partition-resistant networking, serverless compute and distributed storage into a new kind of platform. NEAR is a community-managed, decentralized cloud storage and computing platform, designed to enable the open web in the future. It uses the same core technology for Bitcoin and Blockchain. On this web, everything can be created from new currencies to new applications to new industries, opening the door to an entirely new future. NEAR is a decentralized community-run cloud computing and storage platform, which is designed to enable the open web of the future. On this web, everything from new currencies to new applications to new industries can be created, opening the door to a brand new future. NEAR is a scalable computing and storage platform with the potential to change how systems are designed, how applications are built and how the web itself works. It is a complex technology allow developers and entrepreneurs to easily and sustainably build applications which reap the benefits of decentralization and participate in the Open Web while minimizing the associated costs for end users. NEAR creates the only community-managed cloud that is strong enough to power the future of the open web, as NEAR is designed from the ground up to deliver intuitive experiences to end users, expand capacity across millions of devices, and provide developers with new and sustainable business models for their applications. The NEAR Platform uses a token — also called “NEAR”. This token allows the users of these cloud resources, regardless of where they are in the world, to fairly compensate the providers of the services and to ensure that these participants operate in good faith.
2.1 WHY NEAR?
Through focus, we find that Platforms based on blockchain technologies like Bitcoin and Ethereum have made great progress and enriched the world with thousands of innovative applications spanning from games to decentralized financing. However, these original networks and none of the networks that followed were not able to bridge the gap towards mainstream adoption of the applications created above them and do not provide this type of standard that fully supports the web. This is a result of two key factors:
System design
Organization design
System design is relevant because the technical architecture of other platforms creates substantial problems with both usability and scalability which have made adoption nearly impossible by any but the most technical innovators. End-users experience 97–99% dropoff rates when using applications and developers find the process of creating and maintaining their applications endlessly frustrating. Fixing these problems requires substantial and complex changes to current protocol architectures, something which existing organizations haven’t proven capable of implementing. Instead, they create multi-year backlogs of specification design and implementation, which result in their technology falling further and further behind. NEAR’s platform and organization are architected specifically to solve the above-mentioned problems. The technical design is fanatically focused on creating the world’s most usable and scalable decentralized platform so global-scale applications can achieve real adoption. The organization and governance structure are designed to rapidly ship and continuously evolve the protocol so it will never become obsolete.
2.1.1 Features, which address these problems:
1. USABILITY FIRST The most important problem that needs to be addressed is how to allow developers to create useful applications that users can use easily and that will capture the sustainable value of these developers. 2. End-User Usability Developers will only build applications, which their end users can actually use. NEAR’s “progressive security” model allows developers to create experiences for their users which more closely resemble familiar web experiences by delaying onboarding, removing the need for user to learn “blockchain” concepts and limiting the number of permission-asking interactions the user must have to use the application. 1. Simple Onboarding: NEAR allows developers to take actions on behalf of their users, which allows them to onboard users without requiring these users to provide a wallet or interact with tokens immediately upon reaching an application. Because accounts keep track of application-specific keys, user accounts can also be used for the kind of “Single Sign On” (SSO) functionality that users are familiar with from the traditional web (eg “Login with Facebook/Google/Github/etc”). 2. Easy Subscriptions: Contract-based accounts allow for easy creation of subscriptions and custom permissioning for particular applications. 3. Familiar Usage Styles: The NEAR economic model allows developers to pay for usage on behalf of their users in order to hide the costs of infrastructure in a way that is in line with familiar web usage paradigms. 4. Predictable Pricing: NEAR prices transactions on the platform in simple terms, which allow end-users to experience predictable pricing and less cognitive load when using the platform.
2.1.2 Design principles and development NEAR’s platform
1. Usability: Applications deployed to the platform should be seamless to use for end users and seamless to create for developers. Wherever possible, the underlying technology itself should fade to the background or be hidden completely from end users. Wherever possible, developers should use familiar languages and patterns during the development process. Basic applications should be intuitive and simple to create while applications that are more robust should still be secure. 2. Scalability: The platform should scale with no upper limit as long as there is economic justification for doing so in order to support enterprise-grade, globally used applications. 3. Sustainable Decentralization: The platform should encourage significant decentralization in both the short term and the long term in order to properly secure the value it hosts. The platform — and community — should be widely and permissionlessly inclusive and actively encourage decentralization and participation. To maintain sustainability, both technological and community governance mechanisms should allow for practical iteration while avoiding capture by any single parties in the end. 4. Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose. Optimize for simplicity, pragmatism and ease of understanding above theoretical perfection.
2.2 HOW NEAR WORKS?
NEAR’s platform provides a community-operated cloud infrastructure for deploying and running decentralized applications. It combines the features of a decentralized database with others of a serverless compute platform. The token, which allows this platform to run also, enables applications built on top of it to interact with each other in new ways. Together, these features allow developers to create censorship resistant back-ends for applications that deal with high stakes data like money, identity, assets, and open-state components, which interact seamlessly with each other. These application back-ends and components are called “smart contracts,” though we will often refer to these all as simply “applications” here. The infrastructure, which makes up this cloud, is created from a potentially infinite number of “nodes” run by individuals around the world who offer portions of their CPU and hard drive space — whether on their laptops or more professionally deployed servers. Developers write smart contracts and deploy them to this cloud as if they were deploying to a single server, which is a process that feels very similar to how applications are deployed to existing centralized clouds. Once the developer has deployed an application, called a “smart contract”, and marked it unchangeable (“immutable”), the application will now run for as long as at least a handful of members of the NEAR community continue to exist. When end users interact with that deployed application, they will generally do so through a familiar web or mobile interface just like any one of a million apps today. In the central cloud hosted by some companies today like: Amazon or Google, developers pay for their apps every month based on the amount of usage needed, for example based on the number of requests created by users visiting their webpages. The NEAR platform similarly requires that either users or developers provide compensation for their usage to the community operators of this infrastructure. Like today’s cloud infrastructure, NEAR prices usage based on easy to understand metrics that aren’t heavily influenced by factors like system congestion. Such factors make it very complicated for developers on alternative blockchain-based systems today. In the centralized cloud, the controlling corporation makes decisions unilaterally. NEAR community-run cloud is decentralized so updates must ultimately be accepted by a sufficient quorum of the network participants. Updates about its future are generated from the community and subject to an inclusive governance process, which balances efficiency and security. In order to ensure that the operators of nodes — who are anonymous and potentially even malicious — run the code with good behavior, they participate in a staking process called “Proof of Stake”. In this process, they willingly put a portion of value at risk as a sort of deposit, which they will forfeit if it is proven that they have operated improperly.
2.2.1 Elements of the NEAR’s Platform
The NEAR platform is made up of many separate elements. Some of these are native to the platform itself while others are used in conjunction with or on top of it. 1. THE NEAR TOKEN NEAR token is the fundamental native asset of the NEAR ecosystem and its functionality is enabled for all accounts. Each token is a unique digital asset similar to Ether, which can be used to: a) Pay the system for processing transactions and storing data. b) Run a validating node as part of the network by participating in the staking process. c) Help determine how network resources are allocated and where its future technical direction will go by participating in governance processes. The NEAR token enables the economic coordination of all participants who operate the network plus it enables new behaviors among the applications which are built on top of that network. 2. OTHER DIGITAL ASSETS The platform is designed to easily store unique digital assets, which may include, but aren’t limited to:
Other Tokens: Tokens bridged from other chains (“wrapped”) or created atop the NEAR Platform can be easily stored and moved using the underlying platform. This allows many kinds of tokens to be used atop the platform to pay for goods and services. “Stablecoins,” specific kinds of token which are designed to match the price of another asset (like the US Dollar), are particularly useful for transacting on the network in this way.
Unique Digital Assets: Similar to tokens, digital assets (sometimes called “Non Fungible Tokens” (NFTs) ranging from in-game collectibles to representations of real-world asset ownership can be stored and moved using the platform.
3. THE NEAR PLATFORM The core platform, which is made up of the cloud of community-operated nodes, is the most basic piece of infrastructure provided. Developers can permissionlessly deploy smart contracts to this cloud and users can permissionlessly use the applications they power. Applications, which could range from consumer-facing games to digital currencies, can store their state (data) securely on the platform. This is conceptually similar to the Ethereum platform. Operations that require an account, network use, or storage at the top of the platform require payment to the platform in the form of transaction fees that the platform then distributes to its community from the authentication contract. These operations could include creating new accounts, publishing new contracts, implementing code by contract and storing or modifying data by contract. As long as the rules of the protocol are followed, any independent developer can write software, which interfaces with it (for example, by submitting transactions, creating accounts or even running a new node client) without asking for anyone’s permission first. 4. THE NEAR DEVELOPMENT SUITE Set of tools and reference implementations created to facilitate its use by those developers and end users who prefer them. These tools include:
NEAR SDKs: NEAR platform supports (Rust and AssemblyScript) languages to write smart contracts. To provide a great experience for developers, NEAR has a full SDK, which includes standard data structures, examples and testing tools for these two languages.
Gitpod for NEAR: NEAR uses existing technology Gitpod to create zero time onboarding experience for developers. Gitpod provides an online “Integrated Development Environment” (IDE), which NEAR customized to allow developers to easily write, test and deploy smart contracts from a web browser.
NEAR Wallet: A wallet is a basic place for developers and end users to store the assets they need to use the network. NEAR Wallet is a reference implementation that is intended to work seamlessly with the progressive security model that lets application developers design more effective user experiences. It will eventually include built-in functionality to easily enable participation by holders in staking and governance processes on the network.
NEAR Explorer: To aid with both debugging of contracts and the understanding of network performance, Explorer presents information from the blockchain in an easily digestible web-based format.
NEAR Command Line Tools: The NEAR team provides a set of straightforward command line tools to allow developers to easily create, test and deploy applications from their local environments.
All of these tools are being created in an open-source manner so they can be modified or deployed by anyone.
3. ECONOMIC
Primarily economic forces drive the ecosystem, which makes up the NEAR platform. This economy creates the incentives, which allow participants permissionlessly organize to drive the platform’s key functions while creating strong disincentives for undesirable, irresponsible or malicious behavior. In order for the platform to be effective, these incentives need to exist both in the short term and in the long term. The NEAR platform is a market among participants interested in two aspects:
On the supply side, certification contract operators and other core infrastructure must be motivated to provide these services that make up the community cloud.
On the demand side, platform developers and end-users who pay for their use need to be able to do so in a simple, clear and consistent way that helps them.
Further, economic forces can also be applied to support the ecosystem as a whole. They can be used at a micro level to create new business models by directly compensating the developers who create its most useful applications. They can also be used at a macro level by coordinating the efforts of a broader set of ecosystem participants who participate in everything from education to governance.
3.1 NEAR ECONOMY DESIGN PRINCIPLES
NEAR’s overall system design principles are used to inform its economic design according to the following interpretations: 1. Usability: End users and developers should have predictable and consistent pricing for their usage of the network. Users should never lose data forever. 2. Scalability: The platform should scale at economically justified thresholds. 3. Simplicity: The design of each of the system’s components should be as simple as possible in order to achieve their primary purpose. 4. Sustainable Decentralization: The barrier for participation in the platform as a validating node should be set as low as possible in order to bring a wide range of participants. Over time, their participation should not drive wealth and control into the hands of a small number. Individual transactions made far in the future must be at least as secure as those made today in order to safeguard the value they modify.
3.2 ECONOMIC OVERVIEW
The NEAR economy is optimized to provide developers and end users with the easiest possible experience while still providing proper incentives for network security and ecosystem development. Summary of the key ideas that drive the system:
Thresholded Proof of Stake: Validating node operators provide scarce and valuable compute resources to the network. In order to ensure that the computations they run are correct, they are required to “stake” NEAR tokens, which guarantee their results. If these results are found to be inaccurate, the staker loses their tokens. This is a fundamental mechanism for securing the network. The threshold for participating in the system is set algorithmically at the lowest level possible to allow for the broadest possible participation of validating nodes in a given “epoch” period (½ of a day).
Epoch Rewards: Node operators are paid for their service a fixed percentage of total supply as a “security” fee of roughly 4.5% annualized. This rate targets sufficient participation levels among stakers in order to secure the network while balancing with other usage of NEAR token in the ecosystem.
Protocol treasury: In addition to validators, protocol treasury received a 0.5% of total supply annually to continuously re-invest into ecosystem development.
Transaction Costs: Usage of the network consumes two separate kinds of resources — instantaneous and long term. Instantaneous costs are generated by every transaction because each transaction requires the usage of both the network itself and some of its computation resources. These are priced together as a mostly-predictable cost per transaction, which is paid in NEAR tokens.
Storage Costs: Storage is a long term cost because storing data represents an ongoing burden to the nodes of the network. Storage costs are covered by maintaining minimum balance of NEAR tokens on the account or contract. This provides indirect mechanism of payment via inflation to validators for maintaining contract and account state on their nodes.
Inflation: Inflation is determined as combination of payouts to validators and protocol treasury minus the collected transaction fees and few other NEAR burning mechanics (like name auction). Overall the maximum inflation is 5%, which can go down over time as network gets more usage and more transactions fees are burned. It’s possible that inflation becomes negative (total supply decreases) if there is enough fees burned.
Scaling Thresholds: In a network, which scales its capacity relative to the amount of usage it receives, the thresholds, which drive the network to bring on additional capacity are economic in nature.
Security Thresholds: Some thresholds, which provide for good behavior among participants are set using economic incentives. For example, “Fishermen” (described separately).
Hey, I wrote this for a user in the other subreddit and I consider it's a good way to show you progress. While it is not enough, I know, it should help to show that we are working and our progress in the areas I stress here it's incremental. Community/ Dev Reachout (AKA Some Marketing Finally)
A community incentives program was long overdue. All platforms are doing this in a way or another: Status, Polkadot, Kusama, AVAX, I can keep listing projects forever. They all do meme competitions, art contests, and more. We have two programs running right now: a real CIP, where you get rewarded for producing content but most importantly, giving technical feedback, being a requestor, starting useful conversations, and even giving marketing feedback (we will be real busy aggregating everything that went on these days).
The second thing is the Golem Monsters contest, targeting the digital artist community, one of the few we wanted to tap into, and we are starting first, by allowing them to create some fun images we can use.
Additionally, we have the surveying program, where we incentivize developers to give us feedback via surveys, which are crucial to building New Golem - we have a dev oriented approach so we indeed build based on this feedback. Next week, hopefully, we will launch more bounties for devs.
We know this is not enough marketing, but our initiatives are INCREMENTAL, meaning, we will continue to add more, probably on a biweekly basis.
New Golem, AKA The Pivot (we dont like that word, but the community uses it, so might as well write in a way you guys prefer):
Brass and Clay were conceived in 2016. A lot has changed. We built and built, and realized that we weren't doing things right to achieve our end game: a platform for developers to build their applications with very easy onboarding, no ethereum scalability dependency, and choices (not all people have the same approach to building applications, right?). So, when Clay was close to be completed, we sat down and challenged every assumption we made in the 2016 WP and came up with New Golem.I think this presentation by Viggith is quite technical, but sums it up quite nicely.
Really being honest here: the Task API is great, but Golem onboarding sucks. The port forwarding thing is the bane of our existence, it makes it extra hard for users to set up Golem. There may be associated VPN costs. A lot of frustration. It is not possible to solve it with the current Clay architecture. New Golem does not need this anymore. So that alone is entirely a HUGE thing for the users. Clay works and it can be set up but has a lengthy set up process and we can't go to big tech and offer them that. We can't keep exposing users to that, two years after mainnet launch. So we rebuilt.
Nevertheless, Clay is operational and today we have a really nice thing to tell you, stay tuned.
New Golem has been split into smaller releases pre-MVP to be able to gather more feedback. BUT this does not change the fact we will deliver on time. MVP is on schedule and being worked on in parallel to the small releases, in contrast to how we have worked in the past.
New Golem is not Wildland (what you mention as Google Drive) but I will explain that in the section below.
Golem Foundation and Golem Factory:
In 2019, Julian and AndrzeJ started the Golem Foundation, aimed to pursue riskier and more exploratory ways to add value to GNT. This is very public. We did press for the whole endeavor because we wanted transparency. Check the Coindesk article that was the main pitch, in case you want external sources. They just did a very interesting "informal AMA" as they released a paper for a concept called Wildland - this is the storage concept you mention, please refer to that thread for more info.
Golem Factory is 100% dedicated to building Golem the Software, we completed Clay with the Mainnet Task API in April, and went on to built The Next Milestone, which is the first step of New Golem, explained above.
Golem Factory is also planning a token migration which will happen quite soon. We are on the final stretch of the preparations. It has been delayed in the past, hence the community frustration. On us - we didn't know it would take so much coordination and updating a bunch of legal stuff as well (the Golem token was released in 2016, and in 2019, new regulations were set in place). Our mistake, we should have started preparing sooner, but New Golem, completing Clay, and the slowest and least efficient Apocalypse we like to call 2020 and covid happened. We've pulled through and we are ready to face the most important quarter in a very long time for Golem.
S4FE is delighted to announce that it is now listed on Uniswap. Traders can now swap their S4FE ($S4F) tokens for ETH and vice versa on the fast and safe Uniswap decentralized exchange. https://uniswap.info/pai0x6ea26aa8c7e824b1a65632f9fdc39ab083fd75eb The listing on Uniswap comes just a few weeks before the much anticipated official S4FE PRODUCT LAUNCH. Three years of development and research are causing to S4FE V1. Launching a desktop application including an IOS App, an Android App, an S4FE ST!CKER & the S4FE ONLINE SHOP. The launch will take place on Saturday, November 14th, 2020, and marks two years of success in research and development. S4FE the Altcoin 2020? 2021?
About Uniswap
Uniswap is a decentralized exchange that uses smart contracts to provide limitless liquidity to users. The project runs on the Ethereum blockchain and enables liquidity providers and traders to come together in a trustless environment. Uniswap is a set of computer programs that run on the Ethereum blockchain and allow for decentralized token swaps. It works with the help of unicorns (as illustrated by their logo). Traders can exchange Ethereum tokens on Uniswap without having to trust anyone with their funds.
How does Uniswap work, and how can you make money with it?
Uniswap leaves behind the traditional architecture of digital exchange in that it has no order book. It works with a design called Constant Product Market Maker, a variant of a model called Automated Market Maker (AMM). Automated market makers are smart contracts that hold liquidity reserves (or liquidity pools) that traders can trade against. Liquidity providers fund these reserves. Anyone can be a liquidity provider who deposits an equivalent value of two tokens in the pool. In return, traders pay a fee to the pool that is then distributed to liquidity providers according to their share of the pool. Let’s dive into how this works in more detail. Liquidity providers create a market by depositing an equivalent value of two tokens. These can either be ETH and an ERC-20 token or two ERC-20 tokens. These pools are commonly made up of stablecoins such as DAI, USDC, or USDT, but this isn’t a requirement. In return, liquidity providers get “liquidity tokens,” representing their share of the entire liquidity pool. These liquidity tokens can be redeemed for the share they represent in the pool.
How does Uniswap make money?
It doesn’t. Uniswap is a decentralized protocol that doesn’t have a native token. All fees go to liquidity providers, and none of the founders get a cut from the trades that happen through the protocol. Currently, the transaction fee paid out to liquidity providers is 0.3% per trade. By default, these are added to the liquidity pool, but liquidity providers can redeem them at any time. The fees are distributed according to each liquidity provider’s share of the pool. A portion of fees may be dedicated to Uniswap development in the future. The Uniswap team has already deployed an improved version of the protocol called Uniswap v2.
The S4FE (S4F) Token
The project’s token trades as S4FE ($S4F) and is available on multiple crypto exchanges. To learn more about S4FE, you can check out our website https://s4fe.io. Additionally, you can engage with the team on Telegram at https://t.me/s4fe_official.
About the S4FE project
S4FE started back in 2017 with an expansive vision and experienced on its way a lot of obstacles. Still, there was a lot of support from its community. S4FE got into a big hype back in 2019 after listing its token and getting attention from mainstream media organizations such as Forbes Magazine, Entrepreneur, and Times Magazine. S4FE was even supported by celebrities such as Floyd Mayweather. What is S4FE? S4FE is a decentralized search engine for items and valuable possessions launching on November 14th, 2020. Users can store their items for free and recover them quickly after they are lost or stolen.
SmartCon will feature the top minds and builders of smart contracts and celebrate our incredible community, thriving ecosystem & cutting-edge research. Experience a mix of keynotes, panel discussions, live demos, developer workshops, and networking with the community. We made registration complimentary so everyone can participate. New Speakers announced this week include:
Loong Wong (CTO of Ren Protocol)
Ryan Sean Adams (Founder of Bankless)
Anthony Sassano (Set Protocol & Founder of ETH Hub)
We’re excited to launch the Chainlink Bug Bounty Program on Gitcoin:https://gitcoin.co/blog/gitcoin-chainlink-bug-bounty-program. With support from the Chainlink Community Grant Program, this program allows us to work with more great security experts to further improve Chainlink.
Liechtenstein cryptoassets exchange @lcx is becoming a data provider on the Chainlink network. Their daily exchange rates for digital assets can serve as the basis for calculating valuations on financial statements, tax returns and more.
Cryptocurrency exchange @BitrueOfficial is consuming Chainlink's live Price Reference Data. As a decentralized source of on-chain price feeds, users can now independently verify the fairness of Bitrue's price quotes used for loan issuance and liquidation.
Plasm Network, a smart contract platform built using Substrate, is actively consuming Chainlink's ETH/USD & BTC/USD Price Reference Data feeds on mainnet as a means of pricing assets within its lockdrop. This is the first of many future integrations.
Staked.us is now a Chainlink node operator, further decentralizing Chainlink's Price Reference Data. Staked provides highly available security audited infrastructure, and has over 3 years of experience running POS nodes that secure millions of dollars.
Crypto payment platform Swipe Wallet is consuming a custom SXP/USD Chainlink Price Reference Data feed live on mainnet. This price oracle helps Swipe decentralize its operations, serving as a transparent on-chain price for reward issuances & token burns.
Decentralized derivatives platform Opium Network has launched a live YFI/ETH Chainlink Price Reference Data feed. "Chainlink helped us launch this price feed within a matter of days to meet market demand," says Opium Founder, Andrey Belyakov
What can smart contracts solve? Making lottery games more reliable, secure, and trustworthy is one! Learn how you can build a decentralized provably random perpetual lottery on the Ethereum platform in Solidity using a Chainlink VRF and Chainlink Alarm.
In our second DeFi series article, we examine how permissionless composability enables rapid innovation within DeFi. The result is the formation of a parallel financial ecosystem of features like DEX aggregators, flash loans, no-loss savings games & more. Thank you to the Aave team for contributing! “One of the biggest value propositions of DeFi is the interoperability by default. This means that anyone can build a product by combining two protocols, such as Aave & Synthetix, & provide new user experience,” said Aave Founder & CEO, Stani Kulechov.
Chainlink's External Adapter architecture gives blockchain developers a flexible framework to unlock any data resource to power their dApps. We explore how you can connect your smart contract to any off-chain API today on mainnet, using Chainlink.
Watch a replay of the live video Q&A with Joe Yu (Top Researcher) and Frida Cai (Global Strategic Partner) of Sperax. The discussion will be centered on decentralized oracles meeting the needs of Sperax, the integration of Chainlink, and their unique approach to decentralized finance (DeFi).
Join us for a video Q&A with Sandeep Nailwal, the COO of Matic Network. The discussion will be centered on decentralized oracles meeting the needs of Matic Network, and the increasing developer usage of Matic’s blockchain, and future of blockchain gaming.
Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate
Chainlink Labs is hiring to build Chainlink’s network: Check out these open roles 👩💼
View all open roles at https://careers.smartcontract.com Are there other community content and celebrations that we missed? Post them in the comments below! ⤵️
Lamden: Building Powerful Blockchains with a Simple Developer Experience
The hour of DeFi is upon us… Over the past year, the blockchain sector was once again rocked by massive disruption in the form of decentralized finance (known by its catchy moniker “DeFi”). DeFi isn't a single product as some people think; rather, you can think of it as a series of paradigm shifts which collectively enable you to access financial products and services — both traditional and innovative. Thanks to blockchain technology, all this is done in a decentralized, trustless environment, so you don't have to rely on a trusted intermediary. As it stands, Ethereum is the favoured blockchain network for building dApps and DeFi solutions, but a number of issues have emerged in the wake of the recent DeFi 'boom'. Chiefly, the network's scalability issues have been exposed, up to the point where most users are priced out of DeFi protocols (Uniswap and Tether remain the top two culprits). More than once, gas fees for processing on-chain transactions reached record highs due to the number of DeFi protocols (and resulting bump in user base) launched on the Ethereum network lately. This (parasitic) fee structure, or the lack thereof, could negatively impact Ethereum's usability in the long run. As the DeFi space continues to experience increased user activity, this would push the transaction volume beyond the network’s limits. As a direct consequence, network congestion will lead to a higher number of unconfirmed transactions, longer wait times and higher gas fees as users race against one another to get their transactions confirmed faster. These bottlenecks could make some smart contracts virtually unusable, an extremely key issue for the future of Ethereum as a dApp platform. Of course, you could cite Layer 2 patches like OMG Network’s Plasma and zkRollups as a potential solution, but we all know they lack generalized smart contract support, which is needed to move dApps out of the increasingly costly Ethereum mainnet. Another potential solution could be to make the Ethereum blockchain and the smart contracts running on the network more efficient. However, that may prove too big to pull off on demand. For one, it’d require an overhaul in Ethereum’s codebase (read: no quick fix, but years down the line), not to mention participation from smart contract owners en masse. Despite Ethereum’s moves to fix its surge in network fees (notably through EIP 2929), most people feel there's much work to be done in order to improve the network. Thankfully, there’s a much better alternative to Ethereum. In Lamden, a viable solution to Ethereum’s key issues of scalability and performance presents itself. Lamden is a platform for blockchain development in Python, with network transaction speeds reaching up to 10,000 TPS & fixed transaction costs cheaper than you've ever seen before. Lamden has been in development and testing for more than two years, and the mainnet was successfully launched in September 2020. With a Delegated Proof of Committee (DPOC) governance model featuring hot reloading, Lamden solves L1 issues on the mainnet, without having to implement second-layer band-aids (zkRollups like zkSync and Optimistic, or scaling solutions like Loopring and Plasma Childchain). More than that, Lamden supports dynamic block sizes, atomic token swaps built directly into the wallet, no gas static fee structure, paying smart contract devs and reactive block times. At an impressive transaction speed of 10,000 TPS, Lamden is able to scale to handle real-world transactions. Build Scalable, High-performance dApps on Lamden Lamden provides a robust set of development tools and Python libraries, which allow you to develop complex ideas faster and with less work. With native support for an easily accessible language like Python, Lamden serves as a low entry point for developers looking to start their foray into dApp development using a suite of ‘convenient’, user-friendly tools. By leveraging Lamden’s 10,000-TPS speed, you can build robust dApps that maintain peak performance at scale. Nodes on the Lamden network process incoming work immediately, instead of waiting for a preset block size or time, as seen with most blockchains. This implies that transactions can be processed near-instantly and finality achieved in as little as 400 milliseconds. Now you can build high-performance dApps that are secure, scalable, and interoperable with a blockchain toolkit that ensures you’re development ready, day one. With Lamden, it’s all about improving the developer experience, and you can develop a broad range of DeFi solutions like DEXes, digital banking platforms, prediction markets, and more. Build Better. Build Faster. Python is one of the most popular programming languages used by developers in various domains like web and software development, data science, machine learning, DevOps and AI. Currently, it’s the fastest-growing language in the world with hundreds of libraries and frameworks like scikit-learn, OpenCV and TensorFlow for machine learning, Django and Flask for web development, matplotlib and NumPy for data science, and NLTK for natural language processing. The Lamden blockchain natively integrates with Python for dApp development, allowing you to easily build decentralized applications five times faster than other blockchains. To top it off, being the first choice for most programmers, Python has a strong developer community with a huge online presence. Therefore, it stands to reason that more robust dApps will be launched on Lamden once the platform gains popularity in the Python dev community. Thanks to Lamden's smart contract functionality and modular approach to dApp development, you can build highly scalable blockchains across every space. By implementing Python's vast library of modules and packages, you can develop (and deploy) dApps in less time. Fostering a Sustainable Blockchain Ecosystem for MMORPGs and NFTs Blockchain gaming and in-game items are now a thing, with several smart contract platforms shifting their focus to NFTs. Lamden's fast transaction times and a global database allows you to make massive multiplayer role-playing games and social applications in a matter of minutes. With Lamden, you can design, build & deploy huge MMORPGs that can execute complex logic directly on the blockchain with zero chance of cheating. You can monetize your games better by leveraging true digital scarcity with in-game currencies and NFTs, and earn 90% of transaction fees processed through your dApp's smart contracts. DeFi on Lamden Per ConsenSys, DeFi solutions should be interoperable, composable and programmable to be truly decentralized. Here’s exactly how Lamden satisfies these three pillars of DeFi. Interoperability: Interoperability refers to the ability to exchange and make use of information across different protocols and blockchains. Lamden enables the seamless exchange of information and value across various dApps built on the platform. Programmability: Programmability generally implies that information (in this case, value) is controlled by smart contracts, not people. Lamden uses a smart contract library Contracting which is built on the Python VM. This system allows developers to write small applications for the types of program logic we see in smart contracts today. This generally has to do with simple logical transactions, so you spend less time with low-level details of systems architecture and more time developing your dApp. Composability: a system is termed “composable” when the entire system can be selected and assembled in various combinations that fit perfectly together to satisfy user requirements. Lamden uses a modular approach to dApp development, allowing you to build Lego-pieced dApps which can fit perfectly into other dApps built with Lamden. For instance, you’ve developed a DEX, so naturally, you’d need to maintain the transparency and reliability of pricing information on the exchange. Instead of using an external blockchain oracle or centralized market aggregator, you simply cull price data from an oracle built on Lamden by just plugging it into your codebase — like a module! All in all, Lamden provides developers with the necessary tools to foster a truly interoperable, programmable and composable financial system, thereby reducing the cost of scaling network performance. Lamden $TAU: Marketcap 6.5mil Supply 156,250,262
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
Technology and some more:
Introduction
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
Down the rabbit hole
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here. Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017. Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
Decentralisation
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand. Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
Smart contracts
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal. If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”.Scilla design story part 1
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
“Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
Smart contract on a sharded environment and state sharding
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
Business & Partnerships
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
Marketing & Community
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
In our first article, we outlined the APY.Finance vision. Our mission is to democratize yield farming by making cutting-edge strategies just one click away. The APY.Finance protocol pools liquidity together and routes funds in a single transaction, thereby reducing gas fees for all. We envision such a protocol to be community-owned and parameterized via the APY.Finance governance token, APY. Today, we share our roadmap on how we plan to make this vision a reality. To start, we break down our decentralization roadmap into three distinct phases. Each phase will grant APY token holders more and more control over the platform and thus the power to deploy the underlying liquidity into DeFi protocols. From fee capture to initial risk scoring to full-on strategy proposal implementation, the design of strategies and management of capital will be 100% community owned. Finally, after listening to our community’s concerns on Telegram/Discord about having a fair distribution, we are announcing today our Liquidity Mining Rewards program. Our goal is to bootstrap a large and diverse user base, and we aim to get the APY token into the hands of early supporters who will participate in protocol governance. Jump to the end of the article to read more about these rewards. If you’d like to register for our alpha launch and stay up-to-date, please sign up for our newsletter.
Valuation: $13.5mm
Total Tokens: 100mm
Circulating Tokens: 8mm
Team & Advisors (vested): 20.0%
Seed Round (vested): 20.0%
Reserved for Strategic Investors (vested): 16.5%
Public Liquidity Mining Rewards: 31.2%
Community Initiatives: 12.3%
We have made it a core mission to ensure that the APY token holder base is large and decentralized. With that in mind, we are allocating a total of 43.5% of token supply for public rewards and initiatives. The Public Liquidity Mining rewards announced today will be a crucial first step towards achieving that goal. Our team is also committed to the long-term success of the APY.finance protocol.For transparency’s sake, the team has adopted a 4 year vest (1-year cliff, 3-year linearly vested). All seed and strategic investors are also aligned on a 1-year vesting schedule with 9c and 13.5c cost basis, respectively.
APY Token Functions
We divide our roadmap and APY token functionalities into three distinct phases of decentralization. The APY token has the power to direct millions of dollars in its underlying liquidity pools to any DeFi protocol. In light of that, we must carefully roll out functionality in a way that empowers our community but still maintains incentive alignment.
Stage 1: Updating system-wide parameters
Upon alpha launch with its initial set of strategies, APY token holders will be able to vote and change system parameters such as fees, risk score, rebalance thresholds. Fees: while the initial iteration of the APY.finance protocol will have 0% yield capture for token holders, the community will be able to propose what percentage of yield generated will go to APY token holders for maintaining the protocol. One interesting proposal from a community member suggests not a fee on yield return but on gas saved. As the protocol’s economies of scale grow, so will the gas fee savings on a per-user basis. Even a transaction cost divided by everyone plus a small flat fee paid to token holders would be less costly than executing the same transaction on your own. Risk Score: every strategy proposed and implemented will have an associated risk score. APY token holders decentralize risk assessment by proposing and pushing risk score updates as the landscape changes. Such changes could be motivated by new developments or even just a change in community risk perceptions due to the Lindy effect. These risk scores will then inform portfolio rebalancing, and system deposits can diversify across multiple strategies and thus perceived risk. Ultimately, the community will not only be able to keep the system up-to-date but can also tailor the APY.finance platform to their collective risk tolerances. Initially, the team will seed these scores using an assessment framework that accounts for smart contract risk, financial risk and centralization risk. We look at the Aave and Consensys frameworks as ideal starting points. Rebalance Thresholds: how big of a yield gain is necessary for our community to decide to switch strategies? Every yield farmer calculates when to reallocate capital and the costs and benefits of doing so. Usually, this is done by calculating the expected net yield of a new strategy against some internal threshold. For instance, to assess the attractiveness of farming the Curve sBTC pool, one might calculate the slippage and renBTC/sBTC fees and measure that against an expected yield threshold (and hence an implicit CRV price assumption). We let the community decide how aggressive or conservative this threshold should be for any given strategy.
Stage 2: Updating changes to existing strategies
As the system progresses and liquidity grows, the next phase will allow APY token holders to govern existing strategies with a UI reminiscent of furucombo. Users can add and remove steps in any yield farming strategy seamlessly without involving a Solidity engineer. When the proposal passes, the strategy will automatically be updated through the generalized architecture. To share a more concrete example, take the case of Compound’s Proposal 11 where the optimal farming strategy switched from farming BAT to farming DAI. Because this involves a core strategy change rather than just a Stage 1 parameter change, the protocol will need to reroute liquidity. Any community member can propose an update to the existing strategy, which could be voted, passed and executed seamlessly by the APY.finance smart contracts. Similarly, a Balancer weighted ratio formula change or SNX rewards change (e.g. sETH reward pools wind down and you need to switch from Uniswap to Curve) can also be reflected just as quickly.
Stage 3: Proposing entirely new strategies
A core mission of APY.finance has always revolved around community-owned yield farming strategies. Once the system is sufficiently decentralized and stable, APY token holders will be able to propose new strategies entirely and influence the deployment of billions of dollars into various DeFi protocols. Not only do incentives like performance fees for new strategies need to be carefully considered but also, we must model the game-ability aspect of routing liquidity in such a versatile manner. Ultimately, though, this is truly the final vision that we are most excited about: an entirely decentralized all-in-one DAO for the new era of permissionless yield, forever operating on the Ethereum blockchain.
Public Liquidity Mining Rewards
Today, we are also announcing our public liquidity mining rewards program. After listening to our community’s concerns over DEX bots and fair launch distribution, we believe that starting the mining program now will give everyone a chance to accrue APY before the IDO. Early supporters will earn APY tokens when they deposit into the APY liquidity contract. The team will snapshot and distribute tokens on/after TGE. In its current, most simple form, users will only be able to deposit stablecoin into the contract for APT tokens, which represent an IOU for their share of the pool (a la Curve.fi and Balancer). While strategies are in active development, the APY liquidity contract is currently just a staging ground. When yield strategies are enabled during our restricted alpha launch, an increasing amount of deposited stablecoin will then be automatically unlocked to begin farming. Stay tuned for more details in an upcoming article.
The uprasing of a BEAST - DXDAO and Gnosis Protocol - MAKER DAO Killer - DEFI 2.0
dxDAO - the First Crypto Exchange Run by a DAO
Marcet cap: 1.3 MLN Token handle: $DXD Circulation supply: 23 695 / 123 224 Team: Great members of Loopring, Kleros, Gnosis, Ethereum DXdao powered Dapps: Mix.eth / Omen.eth / Mesa.eth - revenue from Dapps goes to DXD holders. DXdao is a decentralized community that develops, governs, and grows DeFi protocols and products. Its initial members were seeded through a 1 month process where over $20M in ETH and other tokens were staked and 400+ addresses received Reputation. Since then, DXdao has been advancing critical DeFi infrastructure like Mesa.eth, a recently launched frontend to the Gnosis Protocol, and Omen.eth, a soon-to-launch prediction market platform. The DXdao is also involved in developing Mix.eth, governing DMM, and maintaining the DutchX trading protocol. In order to bootstrap these efforts and broaden its stakeholder base, the DXdao recently voted to launch a public OpenRaise campaign.
Let’s go deeper in what that means.
Starting with Gnosis Protocol: Gnosis Protocol is built in the spirit of permissionless innovation. Its fully decentralized architecture means you don’t need to trust us at Gnosis to build on our protocol. Not only can anyone list tokens or build integrations, Gnosis Protocol's order settlement process does not rely on any operator. Here you can learn more about the protocol and everything you need to start building. Start with the introduction, use cases, or a deep dive into the contracts. Gnosis Protocol is a fully permissionless DEX, which has been in research and development over the course of the last two years. Gnosis Protocol enables ring trades to maximize liquidity. Ring trades are order settlements which share liquidity across all orders, rather than a single token pair, and uniquely suited for trading prediction market tokens and the long tail of all tokenized assets. Gnosis GitHub Page:https://github.com/gnosis As you can see there is a lot of development going on which includes:
Interface for conditional markets for Gnosis' Conditional Token Standard
Safe Transaction service which keeps track of transactions sent via Gnosis Safe contacts and confirmed transactions. It also keeps track of Ether and ERC20 token transfers to Safe contracts.
Dex services – off chain services for the Gnosis Protocol
Safe iOS – Gnosis iOS Ap
Safe Android – Gnosis Android App
And many other developments…
Which leads us to DXDao products:
MIX.ETHMix.finance/Mix.eth - A portfolio tracker with privacy and security as its core. The goal of Mix is to deliver a portfolio manager for the Ethereum ecosystem with privacy, security and a good user experience as a core feature. With the emergence of DeFi 2, decentralised autonomous organisation frameworks (Aragon, 4 Daostack 2) and privacy enabling technologies (zk-SNARKs 3) we can finally deliver a next level wallet interface/portfolio manager. Deeper dive into Mix.ETH:https://daotalk.org/t/mix-eth-seeking-feedback-on-proposal/1183 MESA.ETMesa is an Open Source interface for the Gnosis Protocol, a fully permissionless DEX that enables ring trades to maximize liquidity. Deeper dive into Mix.ETH:https://mesa.eth.link/ OMENOmen is a fully decentralized prediction market platform built on top of the Gnosis conditional token framework. Slated to launch in the coming weeks, Omen will allow anyone to create a prediction market- be it in the realm of crypto, sports, politics, entertainment, etc.- and stake funds on a particular outcome. “People can and will continue to disagree about important topics — that is natural and important — but prediction markets force them to acknowledge the current consensus and whether their input is persuasive.” — Flip Incoming, “The Case for Prediction Markets” Generally, if you look at the cryptocurrency market, people buy and sell crypto based on their prediction of its future value. Prediction markets (also known as information markets, idea futures, event derivatives, decision markets, etc.) allow people to buy and sell outcomes of events. Because people are staking their funds in these markets, the truth becomes its own profit-bearing asset. Prediction markets can serve as aggregators of superior knowledge, where the market share price adjusts to new information and reflects the probability of future outcomes. Omen facilitates all of this on-chain through Gnosis’ conditional token framework. Deeper dive into Omen:https://daotalk.org/t/omen-mvp-overview/1229https://medium.com/bitfwd/omen-dxdaos-new-flagship-product-4976be96d312
TEAM: That’s part is getting really interesting since we need to start with beginning what DAO really is.
DAO is a Decentralized Autonomous Organization (DAO), sometimes labeled a decentralized autonomous corporation (DAC), is an organization represented by rules encoded as a computer program that is transparent, controlled by shareholders and not influenced by a central government. The dxDAO is a community-governed DAO which means they don't really have a team since it's a community driven project. The dxDAO is a community-governed DAO with total control over the DutchX trading protocol. Watch this explainer video how DutchX operates: https://www.youtube.com/watch?v=_TBVXT6XIe0 The dxDAO is not a Gnosis DAO. Gnosis is not part of the dxDAO. Although the technical development of the dxDAO is a project of Gnosis Limited with the support of DAOstack based on DAOstack’s Framework, the contribution of the Companies was limited to providing the technical basis for the dxDAO, including its one month initialisation phase, which ran from 29 May to 28 June 2019. Gnosis Limited did not participate in the initial voting rights’ distribution in the dxDAO. This readthedocs document aims to make it easier for interested third parties to understand the DutchX and dxDAO data as critical infrastructure of the Ethereum blockchain ecosystem. If you want to get deeper dive about this project check out link section in the bottom of article.
Market overview:
Maker (MKR) is a utility token, governance token and recapitalization resource of the Maker system. Maker [MKR] is a token based on Ethereum blockchain. The most actual price for one Maker [MKR] is $552.43. Maker is listed on 33 exchanges with a sum of 65 active markets. The 24h volume of [MKR] is $20 738 227, while the Maker market cap is $555 507 722 which ranks it as #24 of all cryptocurrencies. MKR Rank: 28 Marketcap: $494,696,419 Available Supply: 892,170 Max Supply: 1,005,576 USD: $554.8300 BTC: 0.05846718₿ ETH: 2.37206300Ξ 24h Low & High $529.50| $590.08
Comparing it to DXD:
DXD Rank: 582 Marketcap: $1,633,652 Available Supply: 23,697 Max Supply: 123,226 USD: $68.9400 BTC: 0.00726726₿ ETH: 0.29483887Ξ 24h Low & High $55.88| $74.16
Other #DEFI Partners:
The DeFi Money Market (DMM) provides a trust-minimized, transparent, and permissionless environment on the Ethereum blockchain that empowers users across the world to once again earn a positive yield through digital assets backed by a basket of interest-generating real-world assets brought on-chain into the DeFi space. DMM operates as an ecosystem where real-asset owners can tap Ethereum digital asset owners for funding, which also allows digital asset lenders to gain exposure to uncorrelated passive income. This enables real world asset owners to engage in collateralized borrowing at more competitive rates with a global permissionless reach. In the DMM Ecosystem, both the off-chain assets backing mTokens and the interest revenue generated from these assets are overcollateralized, thus protecting depositors. Being backed by real world assets also means DMM mTokens can offer users a much more stable and reliable ROI on their deposited funds (currently DAI, USDC, ETH) at a stable 6.25% APY. This is in contrast to many other on-chain money markets which offer variable interest rates driven by cryptocurrency leverage traders. Transparency into the off-chain assets backing mTokens and their valuations can be found on-chain and on the DMM Explorer. Additionally, our collaboration and usage of Chainlink’s decentralized oracles adds an extra layer of security and trust to the ecosystem by writing essential data on-chain that details the ecosystem’s valuation and total active collateralization. Website: https://defimoneymarket.com/ DMM DAO Partnership with DXDao “DMM has and will continue to work with the DXdao, a DeFi-focused DAO, in crafting the structure and overall governance of the DMM DAO to utilize and implement best practices in DAO governance. The DXdao was granted a 2% allocation of DMG tokens, and is composed of over 400 stakeholders that control Ethereum protocols and related assets, a treasury of Ether and tokens, and oversees multiple different DeFi projects including Mix.eth, Omen.eth, and Mesa.eth. Through the governance structure we have laid out above, it is our goal that the DMG governance token and community DAO will enable DMM to become a highly decentralized protocol removing any single point of failure. We anticipate that changes and fine-tuning to this structure will be required and we are open to any and all feedback you may have as DMM is a community driven project first and foremost. By enabling permissionless access to a stable yield backed by revenue generating real world assets, we envision a world where your geolocation makes no difference to the ability to secure your financial freedom or grow your business.” Source: https://medium.com/dmm-dao/defi-money-market-dmm-dmg-governance-token-491c9a62c6bf
TLDR
To put it in perspective/ This is your golden ticket to join DEFI wagon with uprising od DXDdao and Gnosis Protocol. 30% of MKR market cap will place DXD token at value of 6262 USD PER 1DXD. BUY IT AND HODL IT. Can’t do all detective work but remember I’m the person who called MFG from the bottom. I know my game.
For further questions regarding DXdao’s campaign visit websites:
Frameworks: Scikit-Learn, Keras Tensorflow, Pytorch, Flask, Angular, PyGame, Hyperledger.
Databases: MySQL, Postgres, SQLite, MongoDB.
Skills offered
Machine learning, deep learning, data science, and everything in-between.
Advanced Machine Learning technologies like Generative Adversarial Network (GAN).
Web development (backend using Flask or Django, frontend using Angular).
Building REST APIs // Web-apps using micro-service architecture.
Clean and well-commented scripts in Python or C++.
Smart Contracts for Ethereum in Solidity.
Browser automation and automated testing of web-apps using Selenium Webdriver.
Web-scraping using simple libraries like LXML, Requests, and BeautifulSoup or by using powerful frameworks like Scrapy.
Integrating web APIs into application eg. Stripe, Recurly, Gmail, etc.
I can work on a new project or continue from some old code.
I can write sequential code as well as parallel code in CUDA or OpenMP.
I've been working as a freelance consultant for almost 3.5 years. So far, I have worked on numerous small to medium-sized projects, and I'm actively looking for some similar interesting and challenging projects here. I take both fixed price and hourly projects. I charge $30 per hour for hourly projects. You can check my Github profile to get an idea about my skills and experience. Feel free to DM me for any ideas or suggestions. I am open to any such discussion.
SmartCon will feature the top minds and builders of smart contracts and celebrate our incredible community, thriving ecosystem & cutting-edge research. Experience a mix of keynotes, panel discussions, live demos, developer workshops, and networking with the community. We made registration complimentary so everyone can participate. New Speakers announced this week include:
ArbolMarket is using Chainlink for validated weather data, making it the first decentralized weather insurance product live on the Ethereum mainnet. Farmers can now protect themselves from negative weather events using universally connected smart contracts.
Blockchain platform Nervos Network is integrating Chainlink oracles to power universally connected smart contracts. Chainlink greatly expands the amount of data Nervos developers can use when building dApps while not compromising on security & reliability.
Centralized trading platform RealHxro integrates Chainlink Price Reference Data live on mainnet to begin decentralizing pricing and settlement of its BTC and ETH indices. This provides Hxro users with unparalleled transparency, fairness, and reliability.
Gaming platform EarnBetCasino is integrating Chainlink to access off-chain data to power its sports games & prediction markets. EarnBet also is looking to incorporate Chainlink VRF within games as an on-chain source of provably fair & unbiased RNG.
Multi-blockchain platform GeeqOfficial is integrating Chainlink to access off-chain data resources. Chainlink gives Geeq developers access to any API, secure nodes for oracle services, a proven in-production DeFi solution for price data, and much more.
Chain_Guardians will use Chainlink VRF to power a new color customization feature for the upcoming Chainlink Guardians. Players will mint NFTs tied to different colors, which can then be merged with Chainlink Guardians to personalize the game experience.
We’re excited to award a grant to SecureDataLinks from the Chainlink Community Grant Program, supporting them in improving https://reputation.link, giving smart contract developers a fully-featured Chainlink oracle network explorer.
Live video Q&A with Stephen Tse the Founder and CEO of Harmony. The discussion is centered on decentralized oracles meeting the needs of Harmony, their product roadmap, and their unique approach to blockchain and DeFi.
In our second DeFi series article, we examine how permissionless composability enables rapid innovation within DeFi. The result is the formation of a parallel financial ecosystem of features like DEX aggregators, flash loans, no-loss savings games & more. Thank you to the Aave team for contributing! “One of the biggest value propositions of DeFi is the interoperability by default. This means that anyone can build a product by combining two protocols, such as Aave & Synthetix, & provide a new user experience.” said Aave Founder & CEO, Stani Kulechov.
Chainlink's External Adapter architecture gives blockchain developers a flexible framework to unlock any data resource to power their dApps. We explore how you can connect your smart contract to any off-chain API today on mainnet, using Chainlink.
Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate
Chainlink Labs is hiring to build Chainlink’s network: Check out these open roles 👩💼
View all open roles at https://careers.smartcontract.com Are there other community content and celebrations that we missed? Post them in the comments below! ⤵️
Why I like Cardano vs Ether - A Project Perspective
Undoubtedly, any IT professional who has been around for a while has seen or has been on projects that have failed. The reasons for failure are riddled with excuses and antidotes but in my experience its usually due to poor project management methodology & governance, lack of team cohesion, and ill-considered architectural decisions. Incompetent executives also have a lot to answer for as well As an IT program manager myself, I have learned that there are 6 key criteria for success.
Well thought out architecture.
A true understanding in the necessity to build harmonized teams with complementary skill sets. Teams who understand the true principals of being part of a cohesive team vs the all too common developers coding to their own drumbeat.
Strong product management capable of defining a well thought out deliverable schedule taking architecture, design, and value maps into consideration.
Strong, agile-based project methodology that streamlines efforts and turn teams into an efficient 'assembly lines, producing 'artifacts of value' incorporating an uncompromising quality control framework.
Unification of messaging. In essence, the entire team would not only be across the objectives of the project using the same language but they would in agreement to that road-map not due to an overzealous product owner but through understanding and rational. Only teams that have a detailed understanding of the 'why' and 'how' can achieve this goal. Unfortunately, most teams only focus on the 'what' which is a serious shortfall in thinking.
Strong Stakeholder and executive buy-in.
A blockchain project that is clearly missing most of the above is Ethereum. In no stretch of the imagination would I consider Etherium a failure but regardless of past success, they are failing to meet most if not all of the above criteria which puts the future viability of the project into serious question. As we all know, Ethereum moved fast 5 years ago and showed the world the potential of smart contracts but in doing so, they completely missed the boat on creating a sustainable and scalable solution with interoperability in mind. It's leader, Vitalik Buterin while undeniably brilliant is not a skilled project or product professional. He's a mathematician and it naive to think just that because your highly skilled in one area doesn't make him an expert in another. As someone who has spent the last 20+ mastering the craft, I can tell you that he simply doesn't have the know-how to lead a project on this scale. This isn't meant to be an insult, its merely a fact. If someone had said to me " Hey you don't have the skill set to be an electrical engineer", I would not take it as an insult. It's simply a fact. I don't. I'm a program professional not an engineer. The Etherium team, from what I can tell aren't a team at all. Rather, they are a dispersed group of individuals working way out of sync with one another. I have seen no evidence of any common design frameworks and from what I can ascertain there is no cohesive, project methodology such as agile scrum or any evidence of a true dev-ops framework incorporating CI/CD against a defined and repeatable quality assurance framework. If there is and if I got this wrong then ok, I'll take it on the chin but I would ask that evidence is produced supporting a different view. I'm not here to bash Etherium but if the above is true then the ecosystem is clearly not sustainable. In a nutshell, too many of the points stated above are missing and they are now in a position that with each passing day they are going to increase the 'disappointment velocity ' to the market and developers will look to greener pastures. That being said, this is not an indication of the future price of the Etherium coin vs a view on the long term viability of the project. In fact, their coin price will probably continue to rise but it's fair to say that the average analyst /investor has no idea how projects are delivered and the steps required to be successful. Hell, most project professionals miss the points above and in my opinion, one day the floor will fail out of it and there will be a lot of punters who will lose out in a pretty spectacular way and then they will ask " How did this happen". Hmmm Now, on the other side of the fence is Cardano and when I assess them against the above criteria I come to a very different conclusion. Without going into to much detail, Cardano is doing a lot of things that I would expect from a global initiative such as this.
For example, they spent the time to choose a programming language with a focus on interoperability, decentralization, scalability, and governance. They designed with the aforementioned in mind and based on independent third-party quality assurance and the simple fact that everything appears to be working and in harmony I can only tip my hat and say "great job guys". It's not an easy thing to accomplish and as far as I can tell, nobody else in the entire crypto field has even come close.
They hired extremely talented individuals who knew the value of working as a unified team and it shows in the consistent messaging across the various mediums such as twitter, youtube Reddit, etc.
The Cardano roadmap is cohesive and each team is clearly focused on solving very specific problems but in a unified manner.
Another factor that I love is their ability to focus on the right things at the right time. Cardano spent zero time or effort trying to market themselves during the last three years and rightfully so. They had nothing to sell but things have changed and they have now engaged a top tier marketing company to assist with the "sell". In other words, they are once again demonstrating the mantra to procure the right skill sets to ensure the best possible results and in the case of Cardano, they are doing it at just the right time. There timing is simply perfect. They have also engaged one of the big three consulting companies knowing full well that relationships like this can open a lot of doors and bring early visibility to sectors of the economy that would normally be closed by thick institutional walls. Not without any criticism, however, I am of the opinion that Cardano started off shaky with very little of the aforementioned boxes checked but overtime they clearly learnt through their own mistakes and have coarse corrected. While most see the advantages to coarse correct, most teams struggle to actually do it. they talk the talk but they don't walk the walk. There is just too much to lose with Ego being at the top of the list and while you can all have your personal opinion about Charles H, he obviously realized pretty early on on the need coarse correct and to his credit, he did a pretty good job doing it. He changed the Cardano programming languages, he began to hire a wider range of qualified skillsets which included some pretty solid product, project and QA practitioners vs solely focusing on himself/ developers alone. While peer review of the solutions was always a factor, his new hires created a well-oiled assembly line with a strong focus on QA and efficiencies. Well done. In summary, I am long ADA and now quite happy with the position I am holding. There has never been a better time to be part of this community and being an early advocate of a solution that could potentially change the world is quite exciting. It would also be a lie to state that is my only motivation. I want to price to rise and quick frankly I want to benefit handsomely for my support of the years. All good things will come with patience and to help this community move forward I will leave you with this thought. Instead of constantly badgering these forums asking WHEN the benefits of Cardano will be fully realized ask yourself what you can do to help spread the word and assist others in realizing it's full potential. Happy days everyone.
UYT Main-Net pre-launching AMA successfully completed with a blast
7 pm, 29th September 2020 Beijing time the UYT Main-Net pre-launching AMA successfully completed with a blast! Here is a full record of the AMA: Host: Hello everyone, it’s a great honor to host the first AMA of UYT network in China. Today, we have invited the person in charge of UYT Dao. Let’s ask Mr. Woo to introduce himself Woo: Hello, I’m Ben. I’ve met you in the previous global live broadcast. I’m the director of UYT Dao and the founder of IGNISVC. At present, I’m the CEO of the TKNT foundation and have been engaged in the blockchain industry. Q1. At present, different types of blockchains have emerged, but cross-chain interaction is still suffering a lot. In your opinion, what is the necessity and significance of cross-chain? Answer: The full name of UYT is to unite all your tokens, which is to integrate all public chains and increase the liquidity of the whole industry. Our purpose is not to create another public chain, but to become a platform for the exchange of value, technology, and resources of all public chains. What we need to solve is that each individual chain can circulate with each other. The full name of UYT is to unite all your tokens, which is to integrate all public chains and increase the liquidity of the whole industry. Our purpose is not to create another public chain, but to become a platform for the exchange of value, technology, and resources of all public chains. What we need to solve is that each individual chain can circulate with each other. Q2. The founder of Ethereum, V Shen, once wrote a cross-chain operation report for bank alliance chain R3, which mentioned three cross-chain methods. Which one does UYT belong to? Can you briefly introduce the cross-chain solution of UYT? Answer: In Vitalik’s cross-chain report, there are three main cross-chain methods. The first is that both parties do not know that they are crossing the chain, or that they cannot “read” each other, such as the centralized exchange. The second way is that one of the links can read other chains, such as side-chain / relay chain. That is, a can read B, and B cannot read a; The third is that both a and B can read each other’s, which can achieve the value and information exchange between a, B, and the platform. UYT belongs to the third kind. Our new official website will be online soon. Here are a few simple points: first of all, the architecture of UYT includes relay chain, parachain, parathreads, and bridges. In terms of ductility, it has exceeded almost all the public chains currently online. In the UYT network, there are four kinds of consensus participants, namely collector, fisherman, nominator, and validator. The characteristics of this model are: first, all people can participate without loss. Secondly, as long as anyone makes more contribution to the ecology, he will get more rewards, otherwise, he will receive corresponding punishment. The underlying layer of UYT is the substrate, which uses the rust programming language. Rust is committed to becoming a programming language that can solve the problems of high concurrency and high-security systems elegantly. This is also a great advantage that we are different from other blockchain projects in technology. Q3. What are the roles in the UYT network? What are their respective functions? Answer: After the main network of UYT is online, there will be four roles: collector, fisherman, nominator, and validator, which is totally different from the current system of the test network. The collector, in short, is responsible for collecting all kinds of information in the parallel chain and packaging the information to the verifier. Fishermen, to put it bluntly, is fishing law enforcement, which specifically checks out malicious acts and gets rewards after being checked out. The nominator, in fact, is a group of rights and interests. The verifier is its representative, and they entrust the deposit to the verifier. Verifier, package new blocks in the network. It must mortgage enough deposits and run a relay chain client on a highly available and high bandwidth machine. It can be understood as a mining pool. It can also be understood as the node in the current UYT DAPP. Q4. What is the mining mechanism of the UYT network? The only way to obtain UYT after its issuance is to participate in mining activities. In the initial stage, the daily constant output times of UYT are set to 1440000, and the cycle of bitcoin is halved. Mining rewards can be obtained in the following five ways: 1) Asset pledge mapping mining 2) Become the intermediate chain node of uyt network 3) Recommendation and reward mechanism 4) Voting reward 5) UYT network Dao will take out 10% of gas revenue from block packaging for community construction and reward of excellent community personnel Q5. The rise and fall of the blockchain are very fast. In order to give investors confidence, is there a detailed development plan, implementation steps, and application direction of UYT network in the next few months? Answer: UYT Network test network has been running stably for a year. After the main network is launched, all mechanisms will undergo major changes. The relationship between the UYT test network and the main network can be understood as the relationship between KSM (dot test network) and dot the main network, and the feasibility of the technology can be reflected more quickly by the UYT test network because of its faster timeliness and all future technology updates Some will move to the main network after the stable operation of the test network. In order to give users a better experience and give more rewards to excellent nodes, all Dao organizers are working hard for it. The development team has completed the cross-chain of bitcoin and some high-quality Ethereum based tokens in the early stage, and now the code has all been open source. For other mainstream currencies, community members can apply for funds to develop. In order to develop the ecology and make a better technical reserve, we will set up a special ecological development fund when the main network goes online. The transfer bridge is our key funding direction. The maximum application amount of a team is as high as 100000 US dollars. In addition, if other public chains want to connect to UYT, they will get technical support. In order to encourage developers to participate in ecological construction, Dao also launched a series of grants to support development. Developers can directly pull the better applications on Eth and EOS directly, or develop new products according to their own advantages. These directions are now the focus of funding. Due to the early online testing time of uyt network, it is based on the earlier version of substrate1.0. The on-chain governance mode can only be realized after the upgrade of 2.0 is completed. At present, the upgrading work is going on steadily, and the on-chain governance will be implemented in the main network with the launch of the uyt main network. As a heterogeneous cross-chain solution with high scalability and scalability, UYT network can perfectly bridge the parallel encryption system and its encryption assets in theory, and its wide applicability in the future can be expected. Therefore, we do not limit the areas where UYT network will play its advantages and roles. But in the general direction, there will be mainly DEFI and DEX ecological plates. From the industry, it can cover a wide range of fields, not only finance but also games, entertainment, shopping malls, real estate, and so on. Q6、How can UYT help DEFI? Answer: UYT network can not only link different public chains but also make parallel chains independent and interlinked. Just like the ACALA project some time ago, it has successfully obtained Pantera capital’s $7 million saft agreement. Although the concept of DEFI is very popular now, all DEFI products are still in the ecology of each public chain, and the cross-chain DEFI ecology has not been developed. UYT is to achieve cross-chain communication, value exchange, and develop truly decentralized financial services and products. For example, cross-chain decentralized flash cash, cross-chain asset support, cross-chain decentralized lending, Oracle machine, and other products. At present, our technical team is also speeding up the construction of infrastructure suitable for the landing of more DEFI products and services and is committed to creating a real cross-chain DEFI ecology, which is only a small step of UYT’s future plan. Q7、TKNT should be one of the hottest projects in the UYT ecosystem recently. Please give us a brief introduction to the TKNT project and the value of TKNT in the UYT ecosystem. Why can TKNT increase 400 times in 7 days? And what is the cooperative relationship between UTC and TKNT? Answer: I will answer each project from the technical and resource aspects. Let’s first introduce UTC. UTC is the token of Copernican network and the first project of UYT game entertainment ecology. In the future, it will be responsible for linking. Due to the high-quality public chain in the entertainment industry, because of the limited slots of UYT, each field will seek a high-quality partner and help the partner become the secondary relay chain of UYT. After the main network of UYT goes online, many chains will want to access UYT Greater value circulation, due to the limited external slots of UYT, the cost is also very high. At this time, you can choose to connect to UTC first, and then connect UTC to UYT. With more and more links with UYT, it will gradually evolve into a secondary relay chain of UYT network. UTC’s resources, online and offline, offline payment and offline entity applications, also have a very large community base. The ecological partners have very good operation experience in the game industry. They will use blockchain technology to change the whole game entertainment industry to make it more transparent and fair. At the same time, there are enough entity consumption scenarios. This is also UYT Because of the reason why the network chose to cooperate with it, the UTC project has been supported by the UYT ecological fund. The support fund includes that after the main network is launched, it will also be the first ecological cooperation project supported by UYT. Because of the online time of the main network of UYT, UTC can’t directly form a chain at present and will give priority to issuing on Ethereum. TKNT is a new concept project TKN.com TKN is the largest online centralized guessing game platform in the world at present. TKNT mixes bet mining and DEFI, so it can carry out fixed mining through platform games, build a system that can realize game participation and in application payment in all Dapps based on ERC20, and combine with various financial services. The reason why TKNT has created a myth of 400 times in 7 days is that the TkN platform has a buyback plan. As we all know, the online quiz game entertainment platform has an amazing profit. Every quarter, the profit will be used to buyback. The strong profit support has led to the huge increase of token. In the future, all users can use UTC to participate in TkN games. Therefore, the main network of UYT is that Line is also of great significance to TKNT. With the maturity of UYT ecology and technology, TKNT can have a more powerful performance. If TKNT wants to link more public chains, it needs to access UYT network, and realize a bigger vision with cross-chain interaction of UYT. After TKNT was launched on the exchange, the highest price has risen to $14, and now it has dropped to about $2.50. You will see that it will once again set a record high and create greater miracles. You will also see that $3 will be the best buying point for TKNT, because there will be several major moves in TKNT, and the global MLM plan will be launched on October 7 in Korea, China, and other countries There will be many marketing teams in Europe to promote TKNT, including DAPP.com As a shareholder of TkN, TKNT will also make every effort to promote TKNT. Secondly, TKNT will be launched next month on the largest digital currency exchange in South Korea, and Chinese users will see the shadow of TKNT on Binance in November. Of course, the decentralized trading platform of UYT will also be launched in the future. Q8. What is the significance of the launch of UYT’s main network for the industry and ecology? Answer: UYT is one of the few cross-chain platform projects in the industry at present. There are many public chains and coin issuing projects. Why? Because of less work, more money. However, there are very high technical and capital requirements for cross-chain and platform. This barrier is very high, so almost no project side is willing to do this. But once this is done, it will be of great significance to the whole industry of digital currency and blockchain. Because it will subvert the current situation of the whole currency circle and chain circle acting on their own, and the painting land is king. Let each independent ecosystem achieve a truly decentralized and trust-free cooperative relationship. This huge change will promote the whole industry to develop into a healthy and virtuous circle macro ecosystem. Q9. The slogan of many project supporters is that UYT should surpass Ethereum. What is the difference in technology between UYT network and Ethereum? Answer: Thank you so much for supporting UYT. In fact, the correct understanding is that UYT is the next era of Ethereum. First of all, UYT has a different vision from Ethereum. Before the emergence of UYT, Ethereum, and EOS, no matter how well they developed, belonged to the era of a single chain. The popular metaphor is a LAN. However, UYT can realize the interoperability of each chain and bring the blockchain into the Internet era. Secondly, UYT is far superior to Ethereum in technology. It mainly includes three aspects: shared security, heterogeneous cross-chain, and no fork upgrade. In the case that Ethereum 2.0 has not been implemented, UYT is the most friendly bottom layer for the DFI projects and other Dapps on Ethereum. Now, the hair chain architecture substrate of UYT is compatible with Ethereum smart contract language solidity, so eth developers can easily migrate their smart contracts to UYT. Up to now, there is no good solution to the congestion problem of Ethereum, while UYT network not only solves the network congestion problem. What’s more, UYT can easily realize one-click online upgrade, instead of having to redeploy a set of contracts on Ethereum for each version upgraded and then require users to follow them to migrate the original assets from the old contract to the new contract. Developers can quickly and flexibly iterate their own protocols to change their application solutions according to the situation, so as to serve more users and solve more problems. At the same time, they can also repair the loopholes in the contract very quickly. In the case of hacker attacks, they can also solve the hacker stealing money and a series of other problems through parallel chain management. We can find that for Ethereum, UYT not only solves the congestion problem we see in front of us but also provides the most important infrastructure for the future applications such as DFI on Ethereum to truly mature into an open financial application that can serve all people. It also opens the Web 3.0 era of the blockchain industry. In terms of market value, Ethereum currently has a strong ecological construction, with a market value of US $40 billion. UYT will also focus on the development of this aspect after the main network goes online. No matter in terms of market value or ecological construction, I have enough confidence in UYT, after all, we are fully prepared. Q10. What is the progress of the ecological construction of UYT? What opportunities do current ecological partners see in UYT or what changes may be brought about by UYT ecology? Answer: After the main network of UYT goes online, there will be a series of ecological construction actions, and more attention will be paid to establishing contact with traditional partners. Cross-chain decentralized flash cash, cross-chain asset support, cross-chain decentralized lending, Oracle machine, and other products will also be the key cooperation direction of UYT. UYT will give priority to the game and entertainment industry because this industry is most easily subverted by blockchain. As the ecological construction of UYT gets bigger and bigger, the future slots will become more and more expensive. The earlier you join UYT ecology, you will get more support from the ecological fund because the ecological fund is also limited. From the perspective of token value-added, all the project parties will cooperate with the project side in the future, and the project side needs to pledge a certain number of UYT to bid for slots, except for ecological rewards, others need to be purchased from market transactions. The difference between the pledge here and the pledge we understand is that the UYT of the ecological partner participating in the auction pledge cannot enjoy the computing power for mining. UYT main network has several opportunities for Eco partners to look forward to, the first point is bitcoin, bitcoin will be later than other assets late, but eventually, all the bubble and value will return to BTC, after the wave of DeFi bubble elimination, the focus will be very much in the bitcoin. UYT ecology can provide a more mature bottom layer for defi. In addition, now Ethereum’s DEFI is that of Ethereum and ERC 20 tokens, and the outbreak point of bitcoin has not yet arrived. Therefore, the DEFI of UYT ecology may be the next opportunity, which is a good opportunity for everyone. The second opportunity is that after the main network goes online, the future UYT ecological projects will compete to bid for slots. In fact, the original intention of UYT is to realize the interconnection of all chains. The chain outside the UYT ecology also needs to communicate. The third is cross-fi. The BIFI is hatched on Ethereum, and the def on UYT can realize multi-chain operation. For example, TkN games or future UTC game platform users can call bitcoin on the UYT chain. This form only belongs to the decentralized finance in the cross-chain era of UYT, which can be called cross-fi. Q11. Which exchanges will UYT go online next? What is the online strategy like? Answer: As the founder of ignisvc and as UYT As the head of the Dao organization, we have always had good cooperative relations with major exchanges all over the world. TKNT will appear in several exchanges one after another. Hitbtc exchange in the United Kingdom, Upbit and Bithumb Exchange in South Korea, Bitfinex exchange in the United States, Binance exchange in China, BKEX exchange, and Kucoin exchange in China are all our partners, and they have been paying close attention to UYT Development, UYT is the public chain with the largest user base and the highest community participation in the cross-chain field, so the future value is immeasurable. If we have to go to the exchange, then we will choose one of the above exchanges to launch. But the vision of UYT is to create a fairer, safer, and transparent circulation in the field of digital currency, and users can master all the assets by themselves, Therefore, in the beginning, there is a simple DEX on the UYT wallet, which is a simple matchmaking transaction and is also an on-chain transaction. After the completion of the UYT DEX, more transactions may occur in the UYT DEX. However, after the main network of UYT is online, centralized exchanges can directly access the block data synchronization of UYT, and it is not ruled out that some exchanges will directly go online for UYT trading. Such exchanges will not enjoy the support of the ecological support fund of UYT. The network project is a community-led project. Each cooperation plan of the exchange will be carried out in the way shared by the community in the future. Dao organization can only implement it according to the voting results. Q12. What are the plans for the promotion of ecological development and market by the launch of UYT main network? Answer: The launch of the main network will be completed around October 15. On the offline side, due to the epidemic situation, we will jointly organize corresponding market activities with nodes in different countries. At present, there are three large-scale offline meetups that have been identified. We will also start a global roadshow when the epidemic is over. On the online side, we have opened online Wechat, Kakao, Twitter, Reddit, and telegram communities. We will carry out AMA activities in various countries and promote them all over the world in various ways. Of course, we will launch MLM plans and cooperate with more marketing teams.
Ethereum Tutorial:. In this Ethereum Tutorial blog, I will explain the inner working of ethereum’s architecture and I will also show you the implementation of ethereum through a simple smart contract.. I see Ethereum as a programmable blockchain that will serve a majority of B2C enterprise in the future. The goal of ethereum’s ‘Turing-complete’ programming language is to allow developers to write more programs in which blockchain transactions could govern and automate specific outcomes. An Ultimate, In-depth Explanation of How EVM Works. EVM is same to Ethereum as watch-internals mechanics are to a watch. This post is a continuation of my Getting Deep Into Series started in an effort to provide a deeper understanding of the internal workings and other cool stuff about Ethereum and blockchain in general which you will not find easily on the web. Firstly then, a whirlwind tour of Ethereum and its uses. Ethereum is some software you can run on a network of computers referred to as nodes. Each node can be thought of as being identical to all the others. Nodes can run simple programs called smart contracts inside a virtual machine called the Ethereum Virtual Machine (EVM). These smart ... Decentralized applications, or ÐApps, require a special system design to achieve high security and reliability.In this article I am going to cover several main principles of how to properly design and implement back end and smart contracts for decentralized applications, taking Ethereum as a primary example, though much of it would apply to EOS, Tron and other decentralized data platforms.
Adrian Sutton's talk at the Ethereum Engineering Group meet-up discusses the architecture of Teku Etherum 2 Client. This software supports Ethereum 2 Beacon Chain. Slides are available here: https ... Chain's Adam Ludwin and Visa’s Peter Berg will share the stage to talk about building a blockchain architecture at Visa-scale. Chain will also make a special announcement. Learn more at www ... Register to the FREE mini-course "become a blockchain developer" on eattheblocks.com to learn how to get a remote blockchain job making 100k. (Like I did myself). What is an Ethereum Dapp? What ... Sebastien started his career as a Java software consultant, with a strong focus on productivity. He was a strong advocate of Model-Driven Architecture before discovering Groovy and Grails. Complete Revit Courses: https://balkanarchitect.com/ Project files: https://www.patreon.com/balkanarchitect What is 6D BIM: https://youtu.be/tWHXPnLuxxE Why ...
