AMA AT DETECTIVE ID (25/06/2020) Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken. Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established? The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control. Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020? By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges. Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit. Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers? Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community Community Questions (Twitter): Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale? Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different? Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing? As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here. Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera? I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle). Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed? The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :) Nuked Phase (3rd Part) Q) What is your VISION and Mission? Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset. Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion? We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊) Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?. You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them? We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on. Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.?? When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction? We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market? We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18 Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges? Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price. Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents? We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract). Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects? Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk) Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this? We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people. Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology? We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations. Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term? The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it? We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token. Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges? STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible?? Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ? Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention. Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space? We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about. Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term? The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people! Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space? We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future? Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this? By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time? I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
A quick editor’s note: we are adding a new section to our monthly dev update titled Deprecations and breaking changes. As you might have guessed, it is to keep all developers building on top of Streamr ecosystem informed about upcoming deprecations (features or components not supported anymore) and breaking changes (alteration in functions, APIs, SDKs and more, that require a code update from the developer side). The newly deployed Marketplace contains a suite of analytics that users can explore on published Data Union products — number of users belonging to a particular Data Union, aggregated earning, estimated earning potential per user and more. Here you can see the example for Swash, published on the Marketplace. Note that Swash is still in its beta phase and the Data Union Product has been migrated to a newer version of a Data Union smart contract, so the current metrics don’t show the full picture. Additionally, we also deployed a long-awaited Uniswap integration on the Marketplace. Thanks to this decentralized exchange (DEX), data buyers now can now use either ETH or DAI to pay for a subscription, in addition to DATA coins. This is an important milestone because it simplifies the purchase process, which had caused some friction for new users. https://preview.redd.it/nk4dbngopqz41.png?width=1217&format=png&auto=webp&s=8a06698e8e316fd9957efd7df9ab815cc42f9256 Recently, the Network developer team finished testing a multi-tracker implementation. For any readers who are not yet familiar with the role a tracker plays in the Network, our core engineer Eric Andrews wrote the following in his recent blog post on the Network workshop:
An important part of the Network is how nodes get to know about each other so they can form connections. This is often referred to as ‘peer discovery’. In a centralized system, you’ll often have a predetermined list of addresses to connect to, but in a distributed system, where nodes come and go, you need a more dynamic approach. There are two main approaches to solving this problem: trackerless and tracker-based. In the tracker-based approach, we have special peers called trackers whose job it is to facilitate the discovery of nodes. They keep track of all the nodes that they have been in contact with, and every time a node needs to join a stream’s topology, they will ask the tracker for peers to connect to.
A representation of the physical links of the underlay network Now that we have finished testing the tracker model, the next step is to try to create an on-chain tracker registry and let Network nodes read the tracker list directly from there. This can be accomplished via a smart contract on the Ethereum network, so that this whole process of peer discovery can be handled in a decentralized way. In future, richer features could be deployed for the tracker registry, such as reputation management and staking to lower possibility of misbehavior or network attacks. The team made further progress on the Network side with the gradual implementation of WebRTC for the nodes. We recently ran an experiment, running over 70 WebRTC nodes on Linux local environment, and results were promising. That gave us additional assurance to proceed with the full implementation. Regarding the Data Union development progress, we noticed there have been some performance issues and potential bugs on the balance calculation, due to Data Union server restarting. We sincerely apologize for the inconvenience caused, and we are working to improve the Data Union architecture to guarantee higher stability before the official public launch later this year.
Deprecations and breaking changes
This section summarizes all deprecated features and planned breaking changes.
June 1st, 2020: Support for Control Layer protocol version 0 and Message Layer protocol versions 28 and 29 will cease. This affects users with outdated client libraries or self-made integrations dating back more than a year. The deprecated protocol versions were used in JS client libraries 0.x and 1.x , as well as Java client versions 0.x . Users are advised to upgrade to newest libraries and protocol versions.
June 1st, 2020: Currently, resources on Streamr (such as streams, canvases, etc.) have three permission levels: read , write , and share . This will change to a more granular scheme to describe the exact actions allowed on a resource by a user. They are resource-specific, such as stream_publish and stream_subscribe . The upgrade takes place on or around the above date. This may break functionality for a small number of users who are programmatically managing resource permissions via the API. Updated API docs and client libraries will be made available around the time of the change.
Further away (date TBD): Authenticating with API keys will be deprecated. As part of our progress towards decentralization, we will eventually end support for authenticating based on centralized secrets. Integrations to the API should authenticate with the Ethereum key-based challenge-response protocol instead, which is supported by the JS and Java libraries. At a later date (TBD), support for API keys will be dropped. Instructions for upgrading from API keys to Ethereum keys will be posted well in advance.
Further away (date TBD): Publishing unsigned data will be deprecated. Unsigned data on the network is not compatible with the goal of decentralization, because untrusted nodes could easily tamper data that is not signed. As the Streamr Network will be ready to start decentralizing at the next major milestone (Brubeck), support for unsigned data will be ceased prior to reaching that. Users should upgrade old client library versions to newer versions that support data signing, and use Ethereum key-based authentication (see above), which enables data signing by default.
Below is the more detailed breakdown of the month’s developer tasks. If you’re a dev interested in the Streamr stack or have some integration ideas, you can join our community-run dev forum here. As always, thanks for reading.
Multi-tracker support is done. Now working on reading tracker list from smart contract
Moving forward with WebRTC implementation after local environment testing
Continuing fixes for Cassandra storage and long resend issues.
Some Java client issues were affecting Data Union joins, but these should all be fixed now
Improved Data Union Server monitoring. Join process is being continuously monitored in production
Team started implementing storing state snapshots on IPFS
JS client bugs fixes to solve problems with joins in Data Union server
Data Union developer docs are being finalised
Core app (Engine, Editor, Marketplace, Website)
Implementing UI for managing buyer whitelist for Marketplace
New Marketplace version has been deployed with Data Union metrics
New product views and Uniswap purchase flow are now live.
Matic Network AMA Thread - Ask the Matic Team Your Questions Here! $100 to be Shared for the Best Questions 🎉
https://preview.redd.it/o71xkejms9f41.png?width=9480&format=png&auto=webp&s=c09ec74b01f8d45a7ee75e7ac25250f753d250e6 #Community #AMA #OutreachProgram Hello Reddit! The Matic Network team is here to connect with the community for a Reddit AMA session. For those new to Matic, we are developing a Layer 2 solution that provides scalable, secure and instant Ethereum transactions using Plasma-based side chains and a decentralized network of Proof-of-Stake validators. From now until February 14th, 5:00 PM IST, we’ll be taking in any questions from the community. Afterwards, core team members will join in on the thread to respond to any questions you may have. We’d love to share our insights on technical aspects, so we’re especially keen to answer technical questions (regarding staking, platform development, our tech stack etc.) but we also welcome questions about Matic’s ecosystem, recent market movements, future plans, and anything else! Rewards 🎉 There is a total of $200 of rewards up for grabs: - $20 for each of the 5 best technical questions - $10 for each of the 10 best general questions
Why Matic? Our Mission
Matic Network is a team passionate about decentralization and better blockchain-based products. The current decentralized ecosystem lacks usability and convenience - decentralized transactions are slow, expensive and complex. The blockchain environment as it stands today is therefore unable to facilitate mainstream-level Dapps. Solving this problem is our mission. We aim to change this by leveraging a combination of blockchain scaling, developer platform and tools, and a keen focus on user experience. Matic aspires to see a world where blockchain gains mainstream adoption, and our goal is to facilitate the decentralized future by providing the necessary infrastructure for Dapps to take flight. We believe the answer to enabling widespread adoption of blockchain technology lies with second-layer solutions focused on scalability. In this way, Matic Network provides massive scaling capabilities whilst leveraging the security and decentralization of the Ethereum mainchain. Our goal is to serve as more than simply a scaling solution, but as an entire global collaborative ecosystem of Dapps running on Matic Network which will become stronger together as the ecosystem expands. We are thrilled to see this coming to fruition.
You can learn more about us on our website (https://matic.network/) as well as through our whitepaper, which goes into detail about the specifics of our technology and various use-cases (https://www.whitepaper.matic.network/). Join our Telegram group where you can chat with the Matic team and other community members: https://t.me/maticnetwork The Matic team will be answering all questions on Friday, February 14th, 2020. We look forward to reading and answering your questions! Ask away!
Weekly Update: ParJar Gaming, District0x’s District Registry, Simona Pop joins OST, Constellation selected to Dcode cohort... – 31 Jan - 6 Feb'20
Sup folks! Here’s part V of VII of our catch up series - your week at Parachute + partners (31 Jan - 6 Feb'20): Doc Vic hosted a CoD Team Deatchmatch Round in Parachute War Zone for $PAR and $AMGO prizes. Woot! Plus, a free-for-all flash game and a Battle Royale were pretty fun as well. Bose hosted a general trivia in TTR for 1k $PAR in prizes per question. Congratulations to Andy, Nathan and Jason for winning big at the Parachute Super Bowl Squares. That’s 1M $PAR given away within hours. Holy Canoli! This week we welcomed a new channel to the Parachute fam – ParJar Gaming, in collaboration with Sentivate, Uptrennd, Arena Match, DoYourTip and TTR who are the current sponsors of games in there. Sweet! For Two-for-Tuesday, Gian got Parachuters to post music from supergroups. Epicness! Starting this month, there will be one Parena each fortnight. The first bi-weekly Parena saw Edson beat Kay in the finale to take home 25k $PAR. As we head on to the Parachute anniversary next week, Cap shared some epic sneak peeks into what's coming up - $PAR as a trading pair, crypto on-ramps etc. It’s going to be an awesome year ahead! For #wholesomewed Jason hosted a week long event: "pick up trash on the side of the road or in a public area. Take a before and after photos and a photo of the trash" and win some cool $PAR in the process. Some more sneak peek into ParJar’s latest stats 2gether had a temporary downtime this week owing to a PecunPay’s system update. Not sure how to get your 2gether card? Watch this video and get your questions answered. XIO announced the start of its transition to Phase 2.0 which will make staking completely automated and decentralised through a simple DApp. This was kicked off by the start of private beta testing. In XIOSocial discussions, Citizens talked about effect of patents on innovation, altcoin emojis and XIO branding. Plus, the team is looking for a technical advisor. There’s 50k $XIO waiting for someone who can make a suitable connection. Click here to watch Birdchain’s January recap. Catch up on the latest at Fantom from their Binance Chain blog update. The Educational Writing Contest winners were announced. The crew wrote about how DeFi is shaping up in the crypto space. Total $FTM staked in the Opera mainnet crossed 40% of total supply this week. Luke from Uptrennd threw open a design contest for their info bot. 10k $1UP in prizes. Nice! Want to help grow the project? Join in! MrMVST’s latest YouTube video talks about how to earn some cool $1UP tokens. Congratulations on crossing 5k followers on Twitter. In the run up to Istanbul Blockchain Week where Uptrennd is one of the partners, Jeff sat down with the event’s founder Erhan Korhaliller to talk about crypto in general and about the markets. As a media partner, the Uptrennd crew were also at CoinPoint’s VIP Networking Party this week to hobnob with C Level Executives in the iGaming space. Check out Opacity’s January update here. The Hydro team travelled to the International Cyber Center in NYC this week for the opening of the Cyber Security and Fintech hub. Did you get a chance to say Hi? The Hydro ecosystem is a world in itself with multiple protocols running a multitude of smart contracts. For example, here’s a rundown of some of the Hydro Tide smart contracts. Also, here’s a list of problems that fintech can solve. The XIO DApp dashboard will provide comprehensive regarding stake positions and expected rewards Silent Notary’s storage platform Ubikiri’s daily development updates for this week can be seen here: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12. The $LAW IEO on ExMarkets is now extended to March. With the formation of Universal Web Inc. complete, Sentivate progressed to rolling out of its international sites beginning with China. For the detailed update, click here. Apps built on the Universal Web will get access to a neural network fed with realtime data from the network. Also, some more updates here. Ever wondered why an octopus? Click here to find out. Bounties Network co-founder Simona Pop joined OST this week as Chief Engagement Officer. Founder Jason Goldberg was interviewed by Tomer Federman (The Blockchain VC Podcast) where he talked about crypto entrepreneurship. Next month, Jason will be sharing his insights on UX design at Ethereum Community Conference in Paris. In this week’s SelfKey educational articles we got to read about identity management, major data breaches of 2019 and 2020 and a guide to offshore banking. Constellation was selected to the Spring cohort of defense and government accelerator, Dcode. Read more about it here. Cryptonomy’s interview of co-founders Ben Jorgensen and Benjamin Diggles came out this week. Ben also shared a roundup of the latest updates. Reflecting on Pynk’s Crowd Wisdom platform, Matt from the team explored the concept of cooperative investing as a strategy in a new article. A featured article covering the ins-and-outs Wibson was published in Ambito.com this week. The Wibson team also shared a blog post explaining how to find out if your data is being misused on Facebook. District0x’s newest DApp, the District Registry, went live this week. Hosting of all future districts (self-governing marketplaces curated by the community; example – Meme Factory) and their governance will happen through the registry using the native $DNT token. For the latest District Weekly and Dev Update, click here and here respectively. District Registry dashboard Harmony’s mainnet $ONE coin is now supported on Ledger. Click here to read the recap of the dev community meetup that Harmony hosted along with Polkadot, Taxa Network and Nervos Network last week in San Francisco. To watch their keynote, click here. $ONE was added to the open beta of hummingbot’s Liquidity Mining program. Congrats for making it to SwissBorg’s list of Top 5 Blockchain Projects of 2019 which was part of their 2019 Crypto Report. Read the January update summary of Harmony, here. The winners of the sticker contest which happened a couple of weeks back were announced after a public vote. K-Pop artist Jung Won-Kwan joined GET Protocol’s advisory board this week. This along with other updates from January were posted in a detailed blog article which also included sections on token burn and the road ahead. Transcripts of their AMAs with theblockcircle and The Gem Hunters were published this week. Plus, Decrypt’s latest article explains how Holland's star comic Jochem Myjer eliminated ticket scalping from his shows by using GET Protocol’s ticketing platforms GUTS Tickets. Global Crypto Alliance’s BitReader GO 1.0 app was previewed this week. The team’s interview with NASDAQ’s Jane King got aired. Global Crypto Alliance was also featured in a Forbes Middle East article about blockchain startups to watch in 2020. YouTuber CryptoHubb partnered with GCA to spread the word on the project in Africa. Coti launched MultiDAG that allows creation of tokens on the DAG structure, which is a first for any DAG architecture. Community nodes of CryptoDaku and tehMoonwalkeR went live on the mainnet. The staking rewards for January have been paid out. Coders will enjoy reading through COTI’s development best practices. DoYourTip’s $DYT token swap happened automatically in ParJar and TxBit. And with that, it’s a wrap for this week at Parachute and partners. See you again soon. Cheers!
Ferrum Network Community Update — December 8, 2019
Dear Community, What an exciting and jammed pack few weeks it has been — with the launch of staking, the 2Key Network partnership, and a major Kudi update — to name a few! But as the profile of Ferrum continues to grow, it is essential we never stray from the fundamentals that got us this far: hard work, transparency, and a commitment to community. In this community update, we provide a recap of the last few weeks, and look ahead to a few initiatives we are planning. Business Update With the release of the FRM Flexible Staking platform, we took that opportunity to kick the marketing into high gear. These marketing efforts paid off, and we were fortunate to be picked up by top influencers like Teh Moonwalker, Oddgems, and Micro Cap Gems. Here’s what happened the past few weeks.
Released FRM Staking version 0.1 with the 18 month staking pool selling out in about 15 minutes. The total amount of FRM locked for staking is 8,412,666 + 2,397,260 locked for rewards, which equate to around 10% of FRM circulating supply.
Conducted no less than 10 AMAs in the past 4 weeks in major channels like Moonwalker’s, the AMA Room and CryptoCabital, among many others.
Announced a partnership with 2Key Network to utilize their Smart Links technology so our community can be rewarded for referring Ferrum Network products.
We’ve also seen strong growth of the Social Mining platform, with over 50 members now actively participating in the community created Social Mining Chat, and no less than 3,083 members signed up for social mining.
Tech Update For those who missed the Tech Update from our CEO Naiem Yeganeh, PhD, here are some highlights:
Backend. we have made major progress in the backend which is enabling us to launch products faster and cheaper, such as building abstraction layers around security and chain access to speed up the development process
Coding. The dev team have been working on more than 25 repositories and has averaged around 1.5 commits per day, including weekends.
Products. In the past 3 months we have built several products including KYC collection, management tools, and the Token Bridge. Last product is our staking platform built on top of Ethereum network, which is a flexible staking system for ERC20 tokens and a MetaMask integrated UI.
First Kudi. Significant progress in improving, refactoring, and adding features including one-click bank accounts, POS improvements, automatic invoicing, and more.
Unifyre Wallet: Backend is mostly complete, and we are working very hard to make it ready for Beta testers by end of year. Unifyre will be a unique multi-chain crypto wallet. It will be the first wallet where you completely take control of your private keys, but can benefit from server side security checks such as two factor authentication, AI based fraud detection, geo-fencing, locking account on a lost or stolen phone, and other security features. You will have access to buy crypto around the world and will work seamlessly with other Ferrum products.
Network and other products: Most work on Unifyre and Kudi are architectured in such a way to optimize code re-usability. We are making progress toward some other products and the mainnet, which will be announced accordingly.
First Kudi Update The First Kudi team on the ground in Nigeria continues to make significant progress.
Announced the new First Kudi website along with the upcoming initiative with the Kudi Bank card
Added a major feature to the app which gives all our users their own personal bank account through our partnership with Providus Bank!
Our Referral Program has seen major growth, with nearly 100 users being referred in the past few weeks and growing daily!
Apple iOS has been preliminarily approved! However, Apple is requesting certain accommodations so the app works on the iPad, which may require more development work. We appreciate your patience.
We released an early version of a video showing merchants using the app. More videos will be released soon.
What’s Next It is critical we capitalize on the attention we have garnered from the team and community efforts, and to start 2020 with a bang. Here are some of the upcoming initiatives we are working on. Flexible ERC-20 Staking v0.2 We are strongly considering launching another round of staking. We are taking the lessons learned from the first round and improving the experience. Community feedback will be key to make version two even better, so expect to see a series of polls in the coming days. A Trading Community A strong group of FRM traders who post technical analysis on social media is great for exposure and great for liquidity. We are currently laying the groundwork to build a trading community to come up with initiatives like trading competitions and special trading rewards. Anyone interested in joining such a community should PM Ian on Telegram. FRM on Kudi We have been working hard to add FRM and ETH to the Kudi app so our users can buy it directly with Naira. This will also open up additional utilities for the FRM token, including a premium membership program that will reward users for holding the token and using the app. More details to follow. Expansion into other Markets As you may know, one part of our business model is to partner with top notch teams in emerging markets where our fiat gateway + payments app technology can be successful. We are happy to report that we have started to work with such a team in Brazil and they are in the early stages of launching their own product powered by Ferrum Network. More news to follow. Conclusion Thank you all for your continued support of Ferrum Network. 2019 was a really special year that we will never forget. But together we can make 2020 even better! Very truly yours, The Ferrum Network Team Ferrum Network Links: Website: https://ferrum.network/ Telegram: http://telegram.ferrum.network Twitter: http://twitter.ferrum.network LinkedIn: http://linkedin.ferrum.network YouTube: http://youtube.ferrum.network Reddit: http://reddit.ferrum.network Bitcoin Talk: http://bitcointalk.ferrum.network Facebook: http://facebook.ferrum.network Github: https://github.com/ferrumnet/ Instagram: http://instagram.ferrum.network
From the latest testnet “Icefrog” we have collected feedback from community users, node operators, and validators. We are able to fix bugs and make improvements. We are preparing to launch a canary version of the next testnet “Crab Network” which will be a permanent network. Its function will be similar to Kusama. New features will be deployed on Crab Network first and its state and data will not be reset or erased. To make the network more economically serious to participants, Darwinia Foundation will allocate 2% of RING’s initial supply to Crab Network. We will take a snapshot of Ring allocation state on Ethereum and Tron late this month. Native test coin cRING of Crab Network will be distributed based on the snapshot proportionally. We will also do an airdrop to Polkadot DOT holders to attract traffic and awareness. Crab Network is targeted to launch at the end of March or early April. Supporting tools such as blockchain explorer, wallets, token claiming tools, documentation, and guides are 90–95% done respectively.
Scale Codec receives Web3 Foundation Grant
Developed by our team, Scale codec is a low-level library tool implemented using Ruby language to support Darwinia Network. With its open-source and public good nature, which will benefit any projects using the substrate framework, Scale received a grant from the Web3 foundation.
Substrate Builders Program
After several rounds of interviews with Parity coordinator and developers, we were selected to enter the Substrate Builders Program. We have got better access to support resources of development tools, closer collaborations with other project teams, dev team from Parity as well as capital resources.
Subscan, a better explorer
As a supporting side project, subscan.io is a blockchain explorer and dApp, which targets substrate-based networks. It has been open-sourced and the beta version has been released. It supports Kusama, Edgeware, and Darwinia Icefrog testnet for now and it will support more coming networks including but not limited to Darwinia Crab network, Darwinia Mainnet, Polkadot, Acala Network, etc.
Ethereum-Darwinia Bridge Demo
We have implemented a PoC module of a decentralized bridge between Ethereum and Darwinia Testnet with Darwinia Relay/Bridge technology.
DAI Token Bridge
We have reached out to the MakerDAO foundation and proposed to build a decentralized bridge for DAI token to cross Ethereum to Polkadot. The proposal is under review.
Polkadot Venture Netwok
Polkadot is about to start an initiative known as Polkadot Venture Network and Darwinia has been added as a featured project.
As we have made a technical breakthrough regarding value transfer across heterogeneous blockchain networks in a truly decentralized manner, we have branded this technology as Darwinia Relay/Bridge. Darwinia Network is no longer limited as a “Gaming Parachain with NFT features” as perceived by the market at the moment. It will serve as critical infrastructure, supporting cross-chain value transfer across smart contract enabled blockchain networks. Cross-chain NFT markets or cross-chain games such as “Evolution Land” will still be deployed on Darwinia Network, but they will serve as showcases for protocol upgrade from a single chain to a cross-chain version. Protocols including DEX, liquidity, DeFi, and others can leverage Darwinia Network to achieve cross-chain interoperability. We are updating our website and other marketing materials to deliver this message to the community.
Marketing and Community
Various marketing engagements and efforts have been deployed to interact with community users and increase participation and awareness. Major events are listed below:
Bounty Program Introduced
A bounty program is announced to reward code contributors, bug reporters, security auditors as their contributions are recognized and accepted with the respective amount of tokens.
Zoom Online Workshop and Meetup “Chain Reaction”
“Chain Reaction” is a workshop/meetup targeting technical professionals as well as the general public. On 20th, Feb, we hosted a zoom-based online workshop for developers. This is the 6th workshop for developers since its introduction last July. Normally it’s an offline and onsite workshop, but this time we did it online via Zoom. Topics included “Codec in Substrate”, “Substrate and Smart Contract”, and “Darwinia Cross-chain Bridge”.
Polkabase AMA “How to build internet of tokens”
In cooperation with Polkabase, co-founder Denny talked about “How to build internet of tokens” on Wechat channels interacting with more than 500 audiences.
Web3 BGU2020 / ETHCC
Invited by the Web3 Foundation, Darwinia Team attended the Blockchain Gaming Conference 2020 in France, where we discussed many topics about blockchain games, non-fungible tokens. Afterward, we attended ETHCC.
Polkadot Ecosystem seminar hosted by BIKI
A joint online seminar organized by BIKI, founders from ChainX, Darwinia, Edgeware, Phala and Acala introduced project visions and discussed topics including, the next trend, Polkadot ecosystem, and more.
Darwinia is pleased to announce a formal strategic partnership with MathWallet. The cooperation will be carried out from multiple perspectives such as Polkadot ecosystem promotion, technical support, meetups, community interaction, etc. Jointly help Polkadot and Darwinia ecosystem construction. Math wallet is also our long term ally to carry out in-depth cooperation in the fields of industry research, technology development, asset security and community service, jointly promote sustainable and resilient development of Darwinia and Polkadot.
Core developers are mainly based in Nanjing, some collaborators and contributors are based in Shanghai, Taiwan, and other countries. Shortly after the Chinese Spring Festival, the team has started working. As we are used to collaborating remotely, this practice has worked well and we have retained full development speed efficiently. No one is infected by the coronavirus, fortunately.
Crab Network is launching soon, we will watch and monitor this testnet for at least 1 month to decide if it’s ready to launch the Mainnet. If things go well, we are happy to see the Mainnet live in Q2.
As an open cross-chain bridge protocol based on Substrate, Darwinia focuses on the construction of future Internet of Tokens, including decentralized tokens swap, exchange and market. The mountain is high, but we climb a step every day. We hope you, your family and your business are doing well during this extreme situation. We appreciate your continuous support and glad that we share the same vision. Thanks and best regards.
Which type of curren(t) do you want to see(cy)? A analysis of the intention behind bitcoin(s). [Part 2]
Part 1 It's been a bit of time since the first post during which I believe things have crystallised further as to the intentions of the three primary bitcoin variants. I was going to go on a long winded journey to try to weave together the various bits and pieces to let the reader discern from themselves but there's simply too much material that needs to be covered and the effort that it would require is not something that I can invest right now. Firstly we must define what bitcoin actually is. Many people think of bitcoin as a unit of a digital currency like a dollar in your bank but without a physical substrate. That's kind of correct as a way to explain its likeness to something many people are familiar with but instead it's a bit more nuanced than that. If we look at a wallet from 2011 that has never moved any coins, we can find that there are now multiple "bitcoins" on multiple different blockchains. This post will discuss the main three variants which are Bitcoin Core, Bitcoin Cash and Bitcoin SV. In this respect many people are still hotly debating which is the REAL bitcoin variant and which bitcoins you want to be "investing" in. The genius of bitcoin was not in defining a class of non physical objects to send around. Why bitcoin was so revolutionary is that it combined cryptography, economics, law, computer science, networking, mathematics, etc. and created a protocol which was basically a rule set to be followed which creates a game of incentives that provides security to a p2p network to prevent double spends. The game theory is extremely important to understand. When a transaction is made on the bitcoin network your wallet essentially generates a string of characters which includes your public cryptographic key, a signature which is derived from the private key:pub key pair, the hash of the previous block and an address derived from a public key of the person you want to send the coins to. Because each transaction includes the hash of the previous block (a hash is something that will always generate the same 64 character string result from EXACTLY the same data inputs) the blocks are literally chained together. Bitcoin and the blockchain are thus defined in the technical white paper which accompanied the release client as a chain of digital signatures. The miners validate transactions on the network and compete with one another to detect double spends on the network. If a miner finds the correct solution to the current block (and in doing so is the one who writes all the transactions that have elapsed since the last block was found, in to the next block) says that a transaction is confirmed but then the rest of the network disagree that the transactions occurred in the order that this miner says (for double spends), then the network will reject the version of the blockchain that that miner is working on. In that respect the miners are incentivised to check each other's work and ensure the majority are working on the correct version of the chain. The miners are thus bound by the game theoretical design of NAKAMOTO CONSENSUS and the ENFORCES of the rule set. It is important to note the term ENFORCER rather than RULE CREATOR as this is defined in the white paper which is a document copyrighted by Satoshi Nakamoto in 2009. Now if we look at the three primary variants of bitcoin understanding these important defining characteristics of what the bitcoin protocol actually is we can make an argument that the variants that changed some of these defining attributes as no longer being bitcoin rather than trying to argue based off market appraisal which is essentially defining bitcoin as a social media consensus rather than a set in stone rule set. BITCOIN CORE: On first examination Bitcoin Core appears to be the incumbent bitcoin that many are being lead to believe is the "true" bitcoin and the others are knock off scams. The outward stated rationale behind the bitcoin core variant is that computational resources, bandwidth, storage are scarce and that before increasing the size of each block to allow for more transactions we should be increasing the efficiency with which the data being fed in to a block is stored. In order to achieve this one of the first suggested implementations was a process known as SegWit (segregating the witness data). This means that when you construct a bitcoin transaction, in the header of the tx, instead of the inputs being public key and a signature + Hash + address(to), the signature data is moved outside of header as this can save space within the header and allow more transactions to fill the block. More of the history of the proposal can be read about here (bearing in mind that article is published by the bitcoinmagazine which is founded by ethereum devs Vitalik and Mihai and can't necessarily be trusted to give an unbiased record of events). The idea of a segwit like solution was proposed as early as 2012 by the likes of Greg Maxwell and Luke Dash Jnr and Peter Todd in an apparent effort to "FIX" transaction malleability and enable side chains. Those familiar with the motto "problem reaction solution" may understand here that the problem being presented may not always be an authentic problem and it may actually just be necessary preparation for implementing a desired solution. The real technical arguments as to whether moving signature data outside of the transaction in the header actually invalidates the definition of bitcoin as being a chain of digital signatures is outside my realm of expertise but instead we can examine the character of the individuals and groups involved in endorsing such a solution. Greg Maxwell is a hard to know individual that has been involved with bitcoin since its very early days but in some articles he portrays himself as portrays himself as one of bitcoins harshest earliest critics. Before that he worked with Mozilla and Wikipedia and a few mentions of him can be found on some old linux sites or such. He has no entry on wikipedia other than a non hyperlinked listing as the CTO of Blockstream. Blockstream was a company founded by Greg Maxwell and Adam Back, but in business registration documents only Adam Back is listed as the business contact but registered by James Murdock as the agent. They received funding from a number of VC firms but also Joi Ito and Reid Hoffman and there are suggestions that MIT media labs and the Digital Currency Initiative. For those paying attention Joi Ito and Reid Hoffman have links to Jeffrey Epstein and his offsider Ghislaine Maxwell. Ghislaine is the daughter of publishing tycoon and fraudster Robert Maxwell (Ján Ludvík Hyman Binyamin Hoch, a yiddish orthodox czech). It is emerging that the Maxwells are implicated with Mossad and involved in many different psyops throughout the last decades. Greg Maxwell is verified as nullc but a few months ago was outed using sock puppets as another reddit user contrarian__ who also admits to being Jewish in one of his comments as the former. Greg has had a colourful history with his roll as a bitcoin core developer successfully ousting two of the developers put there by Satoshi (Gavin Andreson and Mike Hearn) and being referred to by Andreson as a toxic troll with counterpart Samon Mow. At this point rather than crafting the narrative around Greg, I will provide a few links for the reader to assess on their own time:
Now I could just go on dumping more and more articles but that doesn't really weave it all together. Essentially it is very well possible that the 'FIX' of bitcoin proposed with SegWit was done by those who are moral reprobates who have been rubbing shoulders money launderers and human traffickers. Gregory Maxwell was removed from wikipedia, worked with Mozilla who donated a quarter of a million to MIT media labs and had relationship with Joi Ito, the company he founded received funding from people associated with Epstein who have demonstrated their poor character and dishonesty and attempted to wage toxic wars against those early bitcoin developers who wished to scale bitcoin as per the white paper and without changing consensus rules or signature structures. The argument that BTC is bitcoin because the exchanges and the market have chosen is not necessarily a logical supposition when the vast majority of the money that has flown in to inflate the price of BTC comes from a cryptographic USD token that was created by Brock Pierce (Might Ducks child stahollywood pedo scandal Digital Entertainment Network) who attended Jeffrey Epstein's Island for conferences. The group Tether who issues the USDT has been getting nailed by the New York Attorney General office with claims of $1.4 trillion in damages from their dodgey practices. Brock Pierce has since distanced himself from Tether but Blockstream still works closely with them and they are now exploring issuing tether on the ethereum network. Tether lost it's US banking partner in early 2017 before the monstrous run up for bitcoin prices. Afterwards they alleged they had full reserves of USD however, they were never audited and were printing hundreds of millions of dollars of tether each week during peak mania which was used to buy bitcoin (which was then used as collateral to issue more tether against the bitcoin they bought at a value they inflated). Around $30m in USDT is crossing between China to Russia daily and when some of the groups also related to USDT/Tether were raided they found them in possession of hundreds of thousands of dollars worth of counterfeit physical US bills. Because of all this it then becomes important to reassess the arguments that were made for the implementation of pegged sidechains, segregated witnesses and other second layer solutions. If preventing the bitcoin blockchain from bloating was the main argument for second layer solutions, what was the plan for scaling the data related to the records of transactions that occur on the second layer. You will then need to rely on less robust ways of securing the second layer than Proof Of Work but still have the same amount of data to contend with, unless there was plans all along for second layer solutions to enable records to be deleted /pruned to facilitate money laundering and violation of laws put in place to prevent banking secrecy etc. There's much more to it as well and I encourage anyone interested to go digging on their own in to this murky cesspit. Although I know very well what sort of stuff Epstein has been up to I have been out of the loop and haven't familiarised myself with everyone involved in his network that is coming to light. Stay tuned for part 3 which will be an analysis of the shit show that is the Bitcoin Cash variant...
YouTube Censorship Emphasizes the Importance of Decentralization
The whole cryptocurrency community was outraged when the premier video streaming site YouTubebegan purging content created by various influential crypto-centric content creators. Reports of the purging began surfacing during the height of the holidays, which many believe was intentional to minimize pushback from the crypto community. Nonetheless, the news passed on like wild wire and soon enough caught the attention of the most influential people in the crypto space. Vitalik Buterin, the co-founder of ethereum, expressed his surprise when YouTube censored an ethereum roadmap Q&A prompting him to call on her followers to perhaps it is time to begin to look for alternatives to YouTube. A similar proclamation was made by Binance CEO Changpeng Zhao, CZ, stating that it might be high time the crypto community takes a stab at its own blockchain social media platform. Other crypto influencers have similar sentiments expressing their dismay on the development. EOS founder and Chief Technology Officer of Block.One Daniel Larimer warned of a future where technology giants will have total control of all forms of media. He cautioned that there might be a time when these technology giants will begin to dictate not only what can be shown to consumers but also what content creators can create. While Vitalik and CZ called for the exploration and creation of decentralized social media, Dan and his company are a step ahead as they are set to release the beta of their EOS-based social media platform Voice in February. The latest move of YouTube seems to have strengthened the need for the creation of a decentralized social media alternative for YouTube. A social media platform that will be equivalent to bitcoin, censorship-resistant and cannot be controlled by a single entity for its own agenda. For the past few years, a centralized social media platform has come under fire for using and selling private user information data to various interested parties. These companies earn millions from user data without them knowing it. A decentralized social media platform represents a paradigm shift from the old model where most of the profits of the platform go to the company but instead are rewarded to content creators frictionlessly through the use of cryptocurrencies. Unlike centralized social media (SM), in decentralized SM no single entity, even the developers themselves cannot just implement changes in the platform, they usually need to get the approval of the majority of the users or elected representatives of the users. More importantly, contents that have been uploaded and recorded in a decentralized social media cannot be deleted unilaterally by any single entity even the developers themselves without them having access to the private keys of the account. This makes content created in decentralized social media more censorship-resistant. While decentralization makes contents unstoppable it does not mean low-quality content cannot be policed by the community. Decentralized social media can be flagged or downvoted to be less visible but not entirely be removed. Unstoppable, censorship-resistant, transparent and inclusive these are the hallmarks of decentralization and what gives blockchain-based applications such as bitcoin and the ever-increasing number of decentralized applications its worth and value. However, the pace by which decentralized applications air increasing by the day makes the industry ever more fragmented, siloed and isolated from each other. There is a need for them to be able to interoperate or interact with each other at some level. While these decentralize applications may not be able to interoperate or interact with each other without creating new technology to bridge them together, their main mechanism for exchange of value can, through their coins and tokens. These digital assets are traded in trading venues which for the time being is dominated by centralized exchanges. Centralized exchange (CEX) are not better than traditional banks as users will have to deposit their assets, asked permission from CEX operators to withdraw their own cryptocurrency and can also be denied access. Decentralization can only be as strong as its weakest link and many believe centralized exchanges are the weakest link in the crypto community’s effort for continued decentralization. Centralized exchanges not only act like banks but are also easily targeted by hackers and government. The former for its big stash of cryptocurrency which are usually lumped together in one “honeypot” wallet and the latter to implement regulatory policies that usually run against the virtues of decentralization. The negative effects of this centralization of trading venues are evident throughout the short history of cryptocurrencies. The first decade of these burgeoning asset class is marked by hacks of major centralized exchanges that resulted in hundreds of millions worth of digital assets spirited away by hackers giving a devastating blow to cryptocurrency investors. On the other side of the spectrum, the hostile regulatory stance of countries like China and India have forced exchanges to close down locking with the investor’s money. Fortunately, cryptocurrency innovators were able to create decentralized exchanges that evolved throughout the years to be as fast, efficient and cost-effective as centralized exchange. The best part of this is the fact that these exchanges do not carry as much risk as centralized exchanges as assets never leave the custody of the trader. More importantly, there is no way the decentralized exchange or any external entity could steal or restrict access to your own money so long as traders keep their private keys safe. One of the leading decentralized exchange in the world is Newdex, a multi-chain decentralized exchange (DEX) which has been at the forefront of decentralized exchange innovation by introducing many innovative features to empower its users. It was one of the first global EOS-based DEX which evolved to a multi-chain DEX supporting EOS, TRON, and EOSIO sidechains WAX, LYNX, TELOS; one of the first to offer free CPU computing resources; and recently support the Ethereum, TRON and EOS variants of Tether (USDT), the leading Stablecoin in the whole crypto space. Beyond supporting three active blockchain forms of USDT Newdex goes the extra mile by offering its users cross-chain USDT conversion with minimal to no charges, supporting the active platforms of USDT namely, Ethereum, TRON, and EOS. Stablecoins like USDT have played an important part in the development of the crypto industry as it provides a less volatile asset to trade cryptocurrencies without having to interact directly with fiat which requires rigorous compliance requirements. Decentralization is the primary value proposition of distributed ledger technologies and what many believe makes them a highly sought technology and sets them apart from the many technological breakthroughs in the last decade. For the first time in human history, the human race is able to encapsulate “Truth” in technology. Immutable, final and transparent, enabling a risk-free peer-to-peer exchange of value. A technology that afforded us an unparalleled opportunity for equality and freedom. For more information about Newdex please follow its official links below: Website: https://newdex.io/Twitter:https://twitter.com/NewdexOfficialMedium:https://medium.com/@marketing_27690
Huobi AMA Review (May 31, 2019) 1. What is the price and ROI of KIRINMINER? A: CNY 42,980 or USD 6,380. ROI is 75 days (editor’s note: ROI estimate refers to May 31, 2019. Due to the two recent mainnet exploits: first one fixed on block №149,500 and second one to be fixed with the upgrade coming early July, Waltonchain tech team tries its best to recover the original reference ROI for KIRINMINER users). 2. Are KIRINMINERs in batch 1 and batch 2 different? There is no difference in performance. Batch size depends on production capacity. The second batch price may fluctuate, please refer to the price announced at the time of sale. 3. Will more tokens be issued? A: No. 4. Will you provide a new appreciation plan in the future? Do you have any idea about the token price? A: We will not issue more tokens; our ecosystem has been developing and comes to various industrial systems. Price is determined by the market. As the ecosystem will only grow bigger and bigger, in theory, the sky is our limit. 5. What is the future plan and layout of the project? A: In the coming years, the focus of our layout is to develop in 5G Smart City, life cycle monitoring of high-quality agricultural products, liquor, health products and pharmaceuticals. 6. Can you wholesale KIRINMINER? A: It is possible for the second batch. Please contact the official customer service (editor’s note: please follow future official announcements for details). 7. Do you cooperate with Huawei? A: We provide chips to Huawei (editor’s note: please see the answer to Q9 in Binance AMA for details). 8. What is the life cycle of KIRINMINER? A: In theory, till the electronic components are scrapped. 3+ years. 9. What are your application scenarios? A: Someone did not do the homework properly. At present, Waltonchain has perfect solutions for garment, logistics, food, retail, warranty/extension industries and has developed a blockchain traceability system applied for garment, pharmaceuticals, liquor, agricultural products, oil and gas, warranty and extension etc. So far, Waltonchain cooperates with Korea Dongdaemun Fashion Town, New Zealand MitoQ, KALTENDIN, Huodull, Neusoft in the blockchain field. 10. Is there any evidence to prove you supply chips to Huawei? A: Welcome to our office to check. We can provide Huawei supplier orders. 11. Do you also work in the IoT field? What is the main aspect, is it flow pools? A: We mainly do comprehensive IoT solutions based on blockchain with the integration of hardware and software. 12. Where are all the child chains? The overseas evaluation of your parent chain code is relatively negative. What do you think? A: There will be more applied industry child chains in the future, please look forward to it. For projects integrating software and hardware like us, the iteration cycle is slow; but we walk steadily and firmly. The parent chain code bases on the Ethereum architecture. Our strength is blockchain-on-chip, which is very different from most pure software projects. 13. Will you introduce incentives and penalties in the future? A: Yes, the future is self-control by the community. Incentives and penalties will accord with the community consensus. 14. I heard that you have a new child chain for agricultural provenance, do you? A: Yes, please pay attention to DMTC, the agricultural product traceability ecosystem. 15. Why don’t I see your marketing? A: We will continue to strengthen marketing through community, media and other channels. Please pay attention to KIRINMINER batch 2; you’ll see Waltonchain marketing in action. 16. In the Internet of Everything era, what are the prominent features of Waltonchain? A: The blockchain-on-chip combination used for anti-counterfeiting traceability and product life cycle monitoring. This is our feature. We believe that with large-scale popularization of 5G, Waltonchain will shine. 17. When is token swap? When will you sell KIRINMINER batch 2? A: This is the key direction of our project now. Major progress is to be made in June. Please pay attention. 18. Has there been any cooperation with Chinese government departments or state-owned enterprises? Has there been any progress in this regard? A: The cooperation with Shougang Group and Neusoft Group — they are state-owned enterprises. 19. What are you going to do next? What is the plan? Focus on token or technology developing? A: The next step is to focus on the industry layout and child chain implementation. Our blockchain-on-chip technology will be widely promoted. Token as an indispensable part will help our industry implementation. 20. What chips does the project have? A: IR decoder chip, RFID tag chip, RFID reader chip, MCU chip, WTC miner chip. 21. You all do the Internet of Things. What are the advantages of WTC compared with IOTA? Is there a chance to surpass them? A: The underlying technology is different. IOTA is based on DAG and focuses on software. Our underlying technology is chips; we focus on hardware. Some of our future child chains will adopt DAG architecture for high-TPS application scenarios. 22. Is your implementation in finance going good? A: Yes, we implemented a solution in warranty/extension. Please refer to https://www.waltonchain.org/sys/353.html (editor’s note: the link has the Warranty/Extension Information Traceability System solution in Chinese; English version to be released in July). 23. You interact with users too little. I had been in crypto for three years before I noticed Waltonchain. The popularity of Waltonchain in China is so low that many people don’t know you. Suggest you do more such activities, at least to raise awareness. Chinese crypto players don’t know what WTC is. A: In the crypto community, we have established ourselves as technicians focusing only on technology and implementation. In the early stage, we did not pay much attention to interaction. Starting this year, we must strengthen in this area. We will strengthen our interaction with the community. As an international blockchain project, Waltonchain currently has more than 200,000 followers in 200+ countries and regions. Waltonchain currently recruits Autonomous Community Node Managers worldwide. The managers need to create communities on social platforms and cooperate with us on publicity work to receive 50–1,000 WTC rewards monthly for completing a certain content output. With the help of global supporters, 42 autonomous communities have been established. More people are welcome to join Waltonchain to assist in the blockchain industry development and construction of a new business ecosystem. 24. Was EOS or Waltonchain first to release a public chain? A: EOS is the best underlying blockchain operating system at present. But as we absolutely are a combination of hardware and software, Waltonchain is the first public chain in the IoT industry. 25. Ethereum switches to PoS. Will you? A: We don’t plan it at the moment. 26. What’s next on the plan? Focus on token, technology, or continue to brag? Next, we will continue to develop applied child chains for various industries, attract more third parties to develop DApps on the mainnet, give full play to the financial attributes of WTC and expand WTC application. Binance AMA Review (June 12, 2019) 1. When will coins actually be swapped and how many child chains will be announced then? Does it mean that the whole ecosystem with synced child chains goes live? If not, can you explain to us the current situation? What should still happen before the whole ecosystem goes live? A: We already released Waltonchain Cross-Chain System. So the child chain ecosystem is live. Token swap will start shortly. Currently, we work with exchanges on it. By the way, we will announce two new child chains: Yanghu Distillery and Huodull. We are also deploying the DMTC child chain. 2. We are interested in how and when you will market the Waltonchain ecosystem. You have set up global communities to raise awareness and introduce child chains but will you also advertise direct to industry and also do other regular sorts of marketing in the future? A: We have already started to market. And we sure will expand it. Each of our child chains in the Waltonchain ecosystem represents a specific industry, like liquor, logistics, agricultural products etc. Now we actively connect with various industries, provide industry solutions for them and expand the application field of our ecosystem. 3. You recently launched an in-house built ASIC (KIRINMINER) and also a hardware Bamboo Wallet both of which were welcomed by the community. Will there be any more retail hardware releases in 2019? Do you have a beta website ‘Mall’? A: we are glad to see how they sold out. The KIRINMINER ASIC and Bamboo Wallet are both quite popular in the community. We prepare to sell the second batch of the ASIC. TBA shortly. Besides, our blockchain data collection terminal — Waltonchain Box (we have not set the name yet and are open for community’s ideas) — entered deployment testing and RFID chip entered tape-out. When we complete the testing, we will officially announce them to the community. 4. Can you give us a rundown of some of the key people in your core team and their business or technical experience? I believe you have both Chinese and Korean team members? Can you also say roughly how many people are working at Waltonchain? A: Waltonchain is a joint project initiated by both Chinese and Korean team members. You may have heard about our geniuses Kim Suk Ki and Wei Songjie. We have about 200 employees now, more than 60% of which are engineers. You can find the latest core team introduction in our white paper. 5. A great catalyst for mass adoption is often achieved by making available Solution Development Kits (SDK)’s and providing developer resources to the community. Up to this point, Waltonchain has not provided these much-needed tools in order to advance and propagate the ecosystem. When will an SDK and developer resources be made available to the community so that users may begin developing smart contracts and/or side chains of their own? A: Sure, we will provide all the needed resources to our developer community. We are currently improving the Cross-Chain System SDK and prepare to release it. With it, child chains can develop a cross-chain data endorsement module of their own and customize the parameters of data endorsement to our parent chain, like frequency and gas fee. 6. How can we distinguish the difference between Waltonchain and the rest of the supply chain projects? Why these solutions are considered to be better? A: Rather than a pure supply chain project, Waltonchain is more of a public blockchain platform which provides a complete solution combining software and hardware. Our hardware is specially designed for blockchain solutions. We have a strong hardware and software R&D team dedicated to this mission. Examples can be seen in our hardware announced previously, such as RFID chip, blockchain data collection terminal etc. 7. What do you see as Waltonchain’s best competitive advantage that sets you apart from other blockchains in logistics? A: We are the first (and by now the only one) global project to integrate IC with blockchain. We develop hardware in-house and have our chip technologies patented. We also developed an encryption mechanism to make it really impossible to forge the data written to the chip. This will help us achieve the widest application scope in traceability. Other blockchain projects (like VeChain which the cryptocommunity likes to compare us to) do not have IC technologies of our level. 8. When USDT trading pair on Binance? A: We are in close contact with Binance on it. The USDT pair will be listed shortly! 9. It was said that we would see WTC technology in mobile phones in 2019. In one of the latest AMAs there was also stated that you provide chips for Huawei. Could you provide some more info regarding this? A: In our previous news release we mentioned that we have developed an infrared chip. We are the provider of KGD for assembly factory, who are the supplier of Huawei, ZTE, TCL, Skyworth etc. 10. Is there a licensing model or does every cross-chain equally pay per usage? A: We can use both models as per child chain needs. 11: In which industry do you see the biggest potential for possible adoption of the Waltonchain ecosystem? A: Agricultural products, pharmaceuticals. 12. What are the specific features unique to the Waltonchain RFID chip that have been successfully patented and cannot be copied by competitors? A: Our RFID chips combine the software feature of blockchain in it, which can realize two-way authentication of software and hardware. We have successfully applied for patents for this technology, which projects our first mover advantage in our future development. 13. How can Waltonchain profit from the data they get, from scanning the RFID tags? Buzzword Big Data. A: We track products circulation from the raw materials to the sale on blockchain (!). In this process, we collect valuable data analysis of which can help customers improve their business models. 14. Can you give us a brief explanation of the importance of time stamps in the Waltonchain ecosystem? Would you say they are essential for the future success of the project? A: Time stamp is one of the methods to ensure data authenticity. When data privacy is not required, timestamps are configured and vice versa. 15. Waltonchain RFID chips can upload data to the blockchain directly, without using API to coordinate. It’s not clear how the process differs from competitor solutions, or why it has an advantage. Can you explain this process in a little more depth? A: Our RFID chips upload data to blockchain via reader-writers and complete two-way authentication with blockchain without human interference. This ensures authenticity of all data. 16. I really don’t see any marketing done by you guys. Why so? Waltonchain has a working product and it has to be appreciated in the crypto industry. A: Thanks for your appreciation of our project! We will add fuel to our marketing. Our Autonomous Nodes help us a lot already. 17. Why do we need to build a child chain on Waltonchain? What are the challenges for Waltonchain and how do you overcome that? A: Child chains are what will make our ecosystem widespread. They will help us enter every industry and will embody the real value of WTC (each cross-chain transaction will use WTC as gas). The current challenge is spreading word about us. 18. Are you guys planning on getting WTC officially supported for the Ledger Nano S after token swap? A: Since we are now open source and have provided API interface, any third party hardware wallet can now integrate WTC. We are also communicating with some major hardware wallet companies such as Ledger. 19. When are you going to provide us with a Linux Wallet and/or miner? A: Due to the heavy R&D work load of our team, we will develop Wallets for different operating systems according to the needs of the majority in our community.
DISCLAIMER This Whitepaper is for Era Swap Network. Its purpose is solely to provide prospective community members with information about the Era Swap Ecosystem & Era Swap Network project. This paper is for information purposes only and does not constitute and is not intended to be an offer of securities or any other financial or investment instrument in any jurisdiction. The Developers disclaim any and all responsibility and liability to any person for any loss or damage whatsoever arising directly or indirectly from (1) reliance on any information contained in this paper, (2) any error, omission or inaccuracy in any such information, or (3) any action resulting therefrom Digital Assets are extremely high-risk, speculative products. You should be aware of the risks involved and fully consider before participating in Digital assets whether it’s appropriate for you. You should only participate if you are an experienced investor with sophisticated knowledge of financial markets and you fully understand the risks associated with digital assets. We strongly advise you to take independent professional advice before making any investment or participating in any way. You should check what rules and protections apply to your respective jurisdictions before investing or participating in any way. The Creators & community will not compensate you for any losses from trading, investment or participating in any way. You should read whitepaper carefully before participating and consider whether these products are right for you. TABLE OF CONTENT · Abstract · Introduction to Era Swap Network · Development Overview · Era Swap Utility Platform · Alpha-release Development Plan · Era Swap Network Version 1: Specification · Bunch Structure: 10 · Converting ES-ERC20 to ES-Na: · Conclusion: · Era Swap Ecosystem · Social Links Abstract The early smart contracts of Era Swap Ecosystem like TimeAlly, Newly Released Tokens, Assurance, BetDeEx of Era Swap Ecosystem, are deployed on Ethereum mainnet. These smart contracts are finance-oriented (DeFi), i.e. most of the transactions are about spending or earning of Era Swap tokens which made paying the gas fees in Ether somewhat intuitive to the user (withdrawal charges in bank, paying tax while purchasing burgers) but transactions that are not token oriented like adding a nominee or appointee voting also needs Ether to be charged. As more Era Swap Token Utility platform ideas kept appending to the Era Swap Main Whitepaper, more non-financial transaction situations arise like updating status, sending a message, resolving a dispute and so on. Paying extensively for such actions all day and waiting for the transaction to be included in a block and then waiting for enough block confirmations due to potential chain re-organizations is counter-intuitive to existing free solutions like Facebook, Gmail. This is the main barrier that is stopping Web 3.0 from coming to the mainstream. As alternatives to Ethereum, there are few other smart contract development platforms that propose their own separate blockchain that features for higher transaction throughput, but they compromise on decentralization for improving transaction speeds. Moreover, the ecosystem tools are most advancing in Ethereum than any other platform due to the massive developer community. With Era Swap Network, the team aims to achieve scalability, speed and low-cost transactions for Era Swap Ecosystem (which is currently not feasible on Ethereum mainnet), without compromising much on trustless asset security for Era Swap Community users. Introduction to Era Swap Network Era Swap Network (ESN) aims to solve the above-mentioned problems faced by Era Swap Ecosystem users by building a side-blockchain on top of Ethereum blockchain using the Plasma Framework. Era Swap Network leverages the Decentralisation and Security of Ethereum and the Scalability achieved in the side-chain, this solves the distributed blockchain trilema. In most of the other blockchains, blocks are a collection of transactions and all the transactions in one block are mined by a miner in one step. Era Swap Network will consist of Bunches of Blocks of Era Swap Ecosystem Transactions. Decentralization Layer 2 Scalable and Secure A miner mines all the blocks in a bunch consequently and will commit the bunch-root to the ESN Plasma Smart Contract on Ethereum mainnet. Development Overview Initially, we will start with a simple Proof-of-Authority (PoA) based consensus of EVM to start the development and testing of Era Swap Ecosystem Smart Contracts as quickly as possible on the test-net. We will call this as an alpha-release of ESN test-net and only internal developers will work with this for developing smart contracts for Era Swap Ecosystem. User’s funds in a Plasma implementation with a simple consensus like PoA are still secured as already committed bunch-roots cannot be reversed. Eventually, we want to arrive on a more control-decentralized consensus algorithm like Proof-of-Stake (PoS) probably, so that even if the chain operator shuts down their services, a single Era Swap Ecosystem user somewhere in the world can keep the ecosystem alive by running software on their system and similarly more people can join to decentralize the control further. In this PoS version, we will modify the Parity Ethereum client in such a way, that at least 50% of transaction fees collected will go to the Luck Pool of NRT Smart Contract on Ethereum mainnet and rest can be kept by miner of the blocks/bunch of blocks if they wish. After achieving such an implementation, we will release this as a beta version to the community for testing the software on their computers with Kovan ERC20 Era Swaps (Ethereum test-net). Era Swap Decentralised Ecosystem Following platforms are to be integrated:
Era Swap Token Contract (adapted ERC20 on Ethereum) The original asset will lie on Ethereum to avoid loss due to any kind of failure in ESN.
Plasma Manager Contract (on Ethereum) To store ESN bunch headers on Ethereum.
Reverse Plasma Manager Contract (on ESN) Bridge to convert ES to ES native and ES native to ES. User deposits ES on Mainnet Plasma, gives proof on ESN and gets ES native credited to their account in a decentralised way.
NRT Manager Contract (on Ethereum or on ESN) If it is possible to send ES from an ESN contract to luck pool of NRT Manager Contract on Ethereum, then it’s ok otherwise, NRT Manager will need to be deployed on ESN for ability to add ES to luck pool.
Era Swap Wallet (React Native App for managing ESs and ES natives) Secure wallet to store multiple private keys in it, mainly for managing ES and ES native, sending ES or ES native, also for quick and easy BuzCafe payments.
TimeAlly (on Ethereum or on ESN) On whichever chain NRT Manager is deployed, TimeAlly would be deployed on the same chain.
Assurance (on Ethereum or on ESN) On whichever chain NRT Manager is deployed, TimeAlly would be deployed on the same chain.
DaySwappers (on ESN) KYC manager for platform. For easily distributing rewards to tree referees.
TimeSwappers (on ESN) Freelance market place with decentralised dispute management.
SwappersWall (on ESN) Decentralised social networking with power tokens.
BuzCafe (on ESN) Listing of shops and finding shops easily and quick payment.
BetDeEx (on ESN) Decentralised Prediction proposals, prediction and results.
DateSwappers (on ESN) Meeting ensured using cryptography.
ComputeEx (on Ethereum / centralised way) Exchange assets.
Era Swap Academy (on ESN / centralised way) Learn. Loop. Leap. How to implement ES Academy is not clear. One idea is if content is constantly being modified, then subscription expired people will only have the hash of old content while new content hash is only available to people who have done Dayswapper KYC and paid for the course. Dayswapper KYC is required because this way people won’t share their private keys to someone else.
Value of Farmers (tbd) The exchange of farming commodities produced by farmers in VoF can be deposited to warehouses where the depositors will get ERC721 equivalent tokens for their commodities (based on unique tagging).
DeGameStation (on ESN) Decentralised Gaming Station. Games in which players take turns can be written in Smart Contract. Games like Chess, Poker, 3 Patti can be developed. Users can come to DeGameStation and join an open game or start a new game and wait for other players to join.
Alpha-release Development Plan
Deploying Parity Node customized according to Era Swap Whitepaper with PoA consensus.
Setting up Plasma Smart Contracts.
Creating a bridge for ERC20 Swap from Ethereum test-net to ESN alpha test-net.
Alpha Version Era Swap Network Version 1 : Specification The Version 1 release of ESN plans to fulfill the requirements for political decentralisation and transparency in dApps of Era Swap Ecosystem using Blockchain Technology. After acquiring sufficient number of users, a version 2 construction of ESN will be feasible to enable administrative decentralization, such that the Era Swap Ecosystem will be run and managed by the Era Swap Community and will no longer require the operator to support for it's functioning. Era Swap Network (ESN) Version 1 will be a separate EVM-compatible sidechain attached to Ethereum blockchain as it’s parent chain. ESN will achieve security through Plasma Framework along with Proof-of-Authority consensus for faster finality. The idea behind plasma framework is to avoid high transaction fees and high transaction confirmation times on Ethereum mainnet by instead doing all the ecosystem transactions off-chain and only post a small information to an Ethereum Smart Contract which would represent hash of plenty of ecosystem transactions. Also, to feature movement of Era Swap Tokens from Ethereum blockchain to ESN using cryptographic proof, reverse plasma of Ethereum on ESN will be implemented. Also, submitting hash of each ESN blocks to ESN Plasma Smart Contract on Ethereum would force ESN to have a block time equal to or more than Ethereum’s 15 second time as well as it would be very much costly for operator to post lot of hashes to an Ethereum Smart Contract. This is why, merkle root of hashes of bunch of blocks would instead be submitted to ESN Plasma Smart Contact on Ethereum. Actors involved in the ESN:
Block Producer Nodes Lesser the number of nodes, quicker is the block propagation between block producers which can help quick ecosystem transactions. We find that 7 block producers hosted on different could hosting companies and locations reduces the risk of single point of failure of Era Swap Ecosystem and facilitates 100% uptime of dApps. Block Producer Nodes will also be responsible to post the small information to the Blockchain.
Block Listener Nodes Rest of the nodes will be Block Listeners which will sync new blocks produced by the block producer nodes. Plenty of public block listener nodes would be setup in various regions around the world for shorter ping time to the users of Era Swap Ecosystem. Users would submit their Era Swap Ecosystem transactions to one of these public nodes, which would relay them to rest of the Era Swap Network eventually to the block producer nodes which would finalize a new block including the user transaction.
Bunch Committers This will be an instance in the block producers which will watch for new blocks confirmed on ESN and will calculate bunch merkle roots and will submit it to ESN Plasma Smart Contract. This instance will also post hash of new Ethereum blocks to ESN (after about 10 confirmations) for moving assets between both the blockchain.
Users These will be integrating with dApps which would be connected to some public ESN nodes or they can install a block listner node themselves. They can sign and send transactions to the node which they are connected to and then that node will relay their transactions to block producer nodes who would finalise a block including their transaction.
A Bunch Structure in Smart Contract will consist of the following: • Start Block Number: It is the number of first ESN block in the bunch. • Bunch Depth: It is Merkle Tree depth of blocks in the bunch. For e.g. If bunch depth is 3, there would be 8 blocks in the bunch and if bunch depth is 10, there would be 1024 blocks in the bunch. Bunch depth of Bunches on ESN Plasma Contract is designed to be variable. During the initial phases of ESN, it would be high, for e.g. 15, to avoid ether expenditure and would be decreased in due course of time. • Transactions Mega Root: This value is the merkle root of all the transaction roots in the bunch. This is used by Smart Contract to verify that a transaction was sent on the chain. • Receipts Mega Root: This value is the merkle root of all the receipt roots in the bunch. This is used to verify that the transaction execution was successful. • Timestamp: This value is the time when the bunch proposal was submitted to the smart contract. After submission, there is a challenge period before it is finalised.
Converting ES-ERC20 to ERC-NA and BACK
On Ethereum Blockchain, the first class cryptocurrency is ETH and rest other tokens managed by smart contracts are second class. On ESN, there is an advancement to have Era Swaps as the first class cryptocurrency. This cryptocurrency will feature better user experience and to differentiate it from the classic ERC20 Era Swaps, it will be called as Era Swap Natives (ES-Na). According to the Era Swap Whitepaper, maximum 9.1 Million ES will exist which will be slowly released in circulation every month. Era Swaps will exist as ES-ERC20 as well as in form of ES-Na. One of these can be exchanged for the other at 1:1 ratio. Following is how user will convert ES-ERC20 to ES-Na:
User will give allowance to a Deposit Smart Contract, and following that call deposit method to deposit tokens to the contract.
On transaction confirmation, user will paste the transaction hash on a portal which will generate a Proof of Deposit string for the user. This string is generated by fetching all the transactions in the Ethereum Block and generating a Transaction Patricia Merkle Proof to prove that user’s transaction was indeed included in the block and the Receipts Patricia Merkle Proof to confirm that the user’s transaction was successful.
Using the same portal, user will submit the generated proofs to a Smart Contract on ESN, which would release funds to user. Though, user will have to wait for the Etheruem block roots to be posted to ESN after waiting for confirmations which would take about 3 minutes. Once, it’s done user’s proofs will be accepted and will receive exact amount of ES- Na on ESN.
Following is how user will convert ES-Na to ES-ERC20:
ES-Na being first class cryptocurrency, user will simply send ES-Na to a contract.
User will paste the transaction hash on a portal which will generate a Proof of Deposit for the user. Again ES-Na being first class cryptocurrency, Transaction Patricia Merkle Proof is enough to prove that user’s transaction was indeed included in the block. Another thing which will be generated is the block inclusion proof in the bunch.
User will have to wait for the bunch confirmation to the Plasma Smart Contract and once it’s done, user can send the proof to the Plasma Smart Contract to receive ES-ERC20.
Since the blocks are produced and transactions are validated by few block producers, it exposes a possibility for fraud by controlling the block producer nodes. Because ESN is based on the Plasma Model, when failure of sidechain occurs or the chain halts, users can hard exit their funds directly from the Plasma Smart Contract on Ethereum by giving a Proof of Holdings.
HOld ES Tokens Swapping with New ES Tokens
The old ES Tokens will be valueless as those tokens will not be accepted in ESN because of NRT (New Released Tokens) and TimeAlly contracts on mainnet which is causing high gas to users, hence reducing interactions. Also, there was an event of theft of Era Swap Tokens and after consensus from majority of holders of Era Swap Tokens; it was decided to create a new contract to reverse the theft to secure the value of Era Swap Tokens of the community. Below is the strategy for swapping tokens: TimeAlly and TSGAP: Majority of Era Swap Community have participated in TimeAlly Smart Contract in which their tokens are locked for certain period of time until which they cannot move them. Such holders will automatically receive TimeAlly staking of specific durations from the operator during initialization of ESN. Liquid Tokens: Holders of Liquid Era Swap Tokens have to transfer the old tokens to a specified Ethereum wallet address managed by team. Following that, team will audit the token source of the holder (to eliminate exchange of stolen tokens) and send new tokens back to the wallet address.
Post-Genesis Tokens Return Program
Primary asset holding of Era Swap tokens will exist on Ethereum blockchain as an ERC20 compatible standard due to the highly decentralised nature of the blockchain. Similar to how users deposit tokens to an cryptocurrency exchange for trading and then withdraw the tokens back, users will deposit tokens to ESN Contract to enter Era Swap Ecosystem and they can withdraw it back from ESN Contract for exiting from ecosystem network. The design of the token system will be such that, it will be compatible with the future shift (modification or migration of ESN version 1) to ESN version 2, in which an entirely new blockchain setup might be required. To manage liquidity, following genesis structure will be followed:
1.17 billion (Circulating Supply)
Locked in Smart Contract
7.93 billion (pending NRT releases)
Though it looks like there are 9.1 * 2 = 18.2 Billion ES, but the cryptographic design secures that at any point in time at least a total of 9.1 billion ES (ES-ERC20 + ES-Na) will be locked. To unlock ES-Na on ESN, an equal amount of ES-ERC20 has to be locked on Ethereum and vice-versa. 9.1 billion ES-ERC20 will be issued by ERC20 smart contract on Ethereum Blockchain, out of which the entire circulating supply (including liquid and TimeAlly holdings) of old ES will be received to a team wallet. TimeAlly holdings of all users will be converted to ES-Na and distributed on ESN TimeAlly Smart Contract by team to the TimeAlly holders on their same wallet address. Liquid user holdings will be sent back to the users to the wallet address from which they send back old ES tokens (because some old ES are deposited on exchange wallet address). ES-Na will be issued in the genesis block to an ESN Manager Smart Contract address. It will manage all the deposits and withdrawals as well as NRT releases.
Following are identified risks to be taken care of during the development of ESN: Network Spamming: Attackers can purchase ES from the exchange and make a lot of transactions between two accounts. This is solved by involving gas fees. A setting of 200 nanoES minimum gas price will be set, which can be changed as per convenience. DDoS: Attackers can query public nodes for computationally heavy output data. This will overload the public node with requests and genuine requests might get delayed. Block producers RPC is private, so they will continue to produce blocks. To manage user’s denial of service, the provider in dApps needs to be designed in such a way such that many public nodes will be queried simple information (let’s say latest block number) and the one which response quickly to user will be selected. AWS is down: To minimize this issue due to cloud providers down, there will be enough nodes on multiple cloud providers to ensure at least one block producer is alive. User deposit double spending: User deposits ES on Ethereum, gets ES-Na on ESN. Then the issue happens that there are re-org on ETH mainnet and the user’s transaction is reversed. Since ETH is not a fixed chain and as per PoW 51% attack can change the blocks. As Ethereum is now enough mature and by statistics forked blocks are at most of height 2. So it is safe to consider 15 confirmations. Exit Game while smooth functioning: User starts a hard exit directly from Plasma Smart Contract on Ethereum, then spends his funds from the plasma chain too. To counter this, the exit game will be disabled, only when ESN halts, i.e. fails to submit block header within the time the exit game starts. This is because it is difficult to mark user’s funds as spent on ESN. Vulnerability in Ecosystem Smart Contracts: Using traditional methods to deploy smart contracts results in a situation where if a bug is found later, it is not possible to change the code. Using a proxy construction for every ecosystem smart contract solves this problem, and changing a proxy can be given to a small committee in which 66% of votes are required, this is to prevent a malicious change of code due to compromising of a single account or similar scenario. ChainID replay attacks: Using old and traditional ways to interact with dApps can cause loss to users, hence every dApp will be audited for the same.
This All-In-One Thread is still undergoing correction. Feel free to post below and let me know if something needs to be corrected. What is Waltonchain? Waltonchain is the only truly decentralized platform combining blockchain with the Internet of Things (IoT) via RFID technology. Their blockchain is implemented in the foundational layer, through their unique, patented RFID chips, which are able to read and write directly to the blockchain, creating a genuine, trustworthy, and traceable business ecosystem, with complete data sharing and absolute information transparency. Click here for the News, PR & Awards Thread. Official Sources
Fashionchain-Fashionchain- Fashionchain restructures the strongly-centralized pyramid structure inherent in the fashion industry ecology into a decentralized structure in which all parties connect point to point directly.
Frequently Asked Questions Q: When will Token Swap Happen? Did Mainnet Release? Waltonchain has launched mainnet, token swap has not happened yet in progress. Token swap from Ethereum to Watlon's own chain is trending to occur complete in Q2 2019 Q4 2019-?. To prepare for swap you can hold your tokens on any of the listed exchanges. For additional information as it becomes available one should follow Walton on twitter. Q：What's the Total Supply of Waltoncoin (WTC)? The Total Supply is 100 million coins with no further issuance in any case. The Max Supply is currently 70 million coins, with the remaining 30 million left to be mined over the course of many years. Currently, the Circulating Supply is around 25 million. Q：I hear Walton is moving to its own blockchain? Main net has just been launched. Stay tuned for details about the token swap and transition to the new chain! Q：How do I convert my ERC20 WTC tokens to the real thing? You can either leave your coins on the exchange, and they will take care of the switch for you, or you can leave them in your MEW wallet, and the team will provide details on how the tokens will be swapped over. Just sit tight! Details are coming. Q: How do I move my WTC to MEW (or the new Walton Wallet)? For MEW: I. Send your WTC to your wallet address. II. Add a custom token using the information below: Address: 0xb7cb1c96db6b22b0d3d9536e0108d062bd488f74 Name: WTC Decimals: 18 For Walton Wallet: Do not send ANY coins to this wallet yet. Wait for instructions from the team. Once everything is safe, you will be able to just create a wallet on the Walton Wallet and send your coins to the public address generated. Q：What if I want to keep them on my Ledger Nano? You can do that, and the team will still snapshot your wallet and copy it along with your coins; however, the the Ledger may not support WTC currently. Don't fret. Your coins are 100% safe. What that means is, if there is no Ledger support, the only way to transfer your coins out of the wallet will be to expose your Ledger's private key. I don't recommend doing this, as it will make the ledger no more secure than a paper wallet (still very secure, but a waste of money now). So basically, your coins are safe. You can still mine to the address. You just won't be able to move them until Ledger support comes. But if you really need access to the coins, you can break out the Ledger's private key on MEW and log into your wallet. Ledger support will come, we just don't know exactly when. Walton is also making their own Walton hardware wallets. I'll update this with more information as it comes. Q：My GMN is on MEW. Will I ever be able to secure GMN in a hardware wallet? As you know, moving your GMN will void your Guardian status because it is attached to the wallet containing at least 5000 WTC; however, the team has stated that they are working on a solution for this and have reassured us that our coins will be safe. We will have to wait for more information regarding whether the transferring of a GMN to a new address will be possible in the future. Q：What is the utility of WTC? What gives the coin value? In the WaltonChain Ecosystem WTC will have multiple functions:
Issuing sub chains
Credit and mortgage system
Distributed asset exchange
Distributed voting and governance system.
More in depth coverage of each point here Q: Is Waltonchain a platform? Yes. Waltonchain is a smart contract platform that will have ICOs and dApps. Q: But I thought Walton just tracked clothing in the supply chain. What else can it do? Walton is capable of implementation in smart cities, smart waste management systems, and things of that nature. That's certainly beyond supply chain. Walton isn't so much a "supply chain" coin as it is a Big Data coin. The RFIDs are used to gather data, which is very useful in supply chain management. But it can also be used to combine with smart devices and make an Internet of things network. Q: Why does this need a blockchain? "It is difficult for the Internet of things under the current central structure to accomplish real autonomous cooperation and effective transactions, because the relevant parties of such cooperation and transactions often belong to different stakeholders with complex and uncertain trust relationships. Therefore, the collaboration and transactions of the current Internet of Things devices can only be carried out under the same trust domain. That is to say, the devices to collaborate and trade must be provided or verified by the same Internet of Things service provider, which significantly reduces the true commercial value of the Internet of Things applications." (Page 2 of the Whitepaper) To expand, counterfeiting is an obvious answer to this question. There needs to be a way to truly authenticate an item. Blockchain is that answer. Walton's blockchain also removes data silos. Companies won't have to manage any database anymore. Everything is handled by Walton. Walton uses child chains which are separate from the parent chain. Companies can keep proprietary information secret and private on their child chain, and only broadcast necessary information to the parent chain for public viewing. Blockchains make the sharing of info between companies easy and fast, too. And then obviously, blockchains have perfect transparency and are immutable. Smart contracts are also extremely useful. In the supply chain industry, after perfectly counting and storing inventory, things can be auto-ordered and paid for simultaneously with wtc, just as an example. Your mind can come up with a whole host of other ideas related to automation. Furthermore, decentralized, transparent, and immutable data for things like smart waste management systems, which Walton has designed, and air-pollution monitoring systems in smart cities would benefit greatly from the blockchain, for reasons explained in the first point from the whitepaper. You could also imagine on the customer end that wanting to know where all their goods come from is important. This is in line with counterfeiting, but also with things more benign. Imagine wanting to return an item to a store, but can't remember which grocery store it was from. Lots of simple improvements like that are all use cases for blockchain. Q: I heard Waltonchain has patented technology. What are the patents? The Walton team has filed filed for 13 patents, 7 of which have been approved so far. The patents cover many inventions in chip design, but the main one of interest is the Transaction ID-reading RFID chip with memory storage. This allows the blockchain to be implemented in the Foundational layer through the RFIDs themselves. The chips can generate their own random ID hash within a secure Key Generation Center within the chip, and the hash along with the data are uploaded simultaneously to the blockchain via their RFID reader. This makes WaltonChain fully decentralized and secure. Q：What are the advantages of the RFID IC tag chip designed in this project? Existing RFID chip industry cannot meet the development of Internet of Things applications, especially applications for the Value Internet of Things:
There are few options available while the prices are high
The transmission power and stability need to be improved
The reception sensitivity is low
The anti-interference ability is poor and the transmission power is low
The existing RFID ICs have many problems such as high power consumption, poor matching with antennae, and difficult system integration, etc.
The project’s IC design has the following significant advantages:
High security: The chip integrates asymmetric random password pair generation logic, uses a core asymmetric encryption algorithm with independent intellectual property rights, and an optimized design without increasing the cost and power consumption of the chip, enabling higher communication security
Tamper-resistant: A dedicated storage space is integrated into the tag chip for the storage of hash value of tag status and key information
Optimized anti-collision design: The chip uses a binary tree anti-collision algorithm with independent intellectual property rights and a time division multiple access design, significantly improving the tag recognition success rate and the number of identifiable labels at the same time
High sensitivity: The chip uses an optimized noise suppression technology to improve the noise figure at the receiving end and the overall receiver sensitivity, which plays an important role in increasing the recognition success rate
Good compatibility: The chip can achieve high-frequency and ultra-high frequency functions at the same time, so the end customer can read the information through their smart phone and inquire about reliable product information
Long lasting: The chip adopts a low voltage and low power-consumption design, allowing the chip to last more than 20 years
Q：How much do the chips cost? Waltonchain in a nutshell with COO Monitor Chan:"We develop and produce hardware such as chips ourselves. This really differentiates us from other companies at the moment. Basically, Silitec, our technical support company, was founded in 2015 and is specialized in manufacturing chips. They already have a R&D team of around 20+ people, so in that way we are not 'increasing' cost. Next important detail is that Waltonchain’s blockchain technology is written into our chips. This means that unlike traditional RFID chips that have their own specific ID and cost around $0.15 to $0.20, the chips we develop will be below 5 cents. With the volume of sales increasing, the overall cost will spread over many units, and the system's cost and ID’s cost will go down consequently, or simply put, economics of scale will do the work." Q：I need help with mining. What resources are out there? WaltonchainMining is for this purpose. Community members here have done testing with many different configurations and have provided ample information for anything you need with setting up your cpu/gpu rig. Q：How many GMNs are left? The Waltonchain Explorer now tracks these addresses. Q：Who are the Knights?
Thus, Ethereum cannot accurately be pigeonholed into either the side-chains quadrant or the Ripple/Litecoin/NXT quadrant; it exists in both. Indeed, it is very likely that as soon as the Ethereum genesis block launches, there will be side-chains for Bitcoin, Litecoin and Dogecoin implemented as contracts within three months. Strange, interesting, and wildly ambitious things are afoot in the world of Bitcoin and blockchains. I give you Zerocash, a completely anonymous currency; Ethereum, a blockchain platform designed A side chain is defined for one specific use case. There can be multiple side chains where different tasks are distributed accordingly for improving the efficiency of processing. Maybe one It makes it easier for users to interact with scalable DApps deployed on plasma chains & Ethereum. Matic Network provides scalable, secure and instant Ethereum transactions using Plasma side Ethereum is a global, decentralized platform for money and new kinds of applications. On Ethereum, you can write code that controls money, and build applications accessible anywhere in the world.
Konstantin Narkhov - Creating a secure decentralized CMS on Ethereum blockchain with Raku
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