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Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
  • LBRY - To allow users to deploy content natively to LBRY
  • MakerDAO to allow users to lend small amounts backed by their Reddit community points.
  • STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
  1. Download Dragonchain’s dctl
  2. Input three commands into a terminal
  3. Build an image
  4. Run it
More information can be found in our Get started documents.

Architecture
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs
  • Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
  • While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
  • Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
  • Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
  • Operational multi-cloud
  • Operational on-premises capabilities
  • Operational deployment to any datacenter
  • Over 700 independent Community Verification Nodes with proof of ownership
  • Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
  1. Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
  2. Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
  3. In a combination of the above, customers could cover aggregated fees.
  4. Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete
For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress
See above

Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
  • Obtain VP support and approval for the release
  • Verify ownership of the software to be released
  • Verify that no proprietary content would be released
  • Convince the organization that there was a value to the open source community
  • Convince the organization that there was a value to Disney
  • Offer the plan for ongoing maintenance of the project outside of Disney
  • Itemize competing projects
  • Verify no conflict of interest
  • Preferred license
  • Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
  • Obtain legal approval
  • Approval from corporate, parks, and other business units
  • Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
  • Trademark searches conducted for the selected name Dragonchain
  • Obtain IT security approval
  • Manual review of OSS components conducted
  • OWASP Dependency and Vulnerability Check Conducted
  • Obtain technical (software) approval
  • Offer management, process, and financial plans for the maintenance of the project.
  • Meet list of items to be addressed before release
  • Remove all Disney project references and scripts
  • Create a public distribution list for email communications
  • Remove Roets’ direct and internal contact information
  • Create public Slack channel and move from Disney slack channels
  • Create proper labels for issue tracking
  • Rename internal private Github repository
  • Add informative description to Github page
  • Expand README.md with more specific information
  • Add information beyond current “Blockchains are Magic”
  • Add getting started sections and info on cloning/forking the project
  • Add installation details
  • Add uninstall process
  • Add unit, functional, and integration test information
  • Detail how to contribute and get involved
  • Describe the git workflow that the project will use
  • Move to public, non-Disney git repository (Github or Bitbucket)
  • Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
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Cryptocurrency Staking As It Stands Today

Cryptocurrency Staking As It Stands Today
Everyone and his grandma know what cryptocurrency mining is. Well, they may not indeed know what it actually is, in technical terms, but they have definitely heard the phrase as it is hard to miss the news about mining sucking in energy like a black hole gobbles up matter. On the other hand, staking, its little bro, has mostly been hiding in the shadows until recently.
by StealthEX
Today, with DeFi making breaking news across the cryptoverse, staking has become a new buzzword in the blockchain space and beyond, along with the fresh entries to the crypto asset investor’s vocabulary such as “yield farming”, “rug pull”, “total value locked”, and similar arcane stuff. If you are not scared off yet, then read on. Though we can’t promise you won’t be.

Cryptocurrency staking, little brother of crypto mining

There are two conceptually different approaches to achieving consensus in a distributed network, which comes down to transaction validation in the case of a cryptocurrency blockchain. You are most certainly aware of cryptocurrency mining, which is used with cryptocurrencies based on the Proof-of-Work (PoW) consensus algorithm such as Bitcoin and Ether (so far). Here miners compete against each other with their computational resources for finding the next block on the blockchain and getting a reward.
Another approach, known as the Proof-of-Stake (PoS) consensus mechanism, is based not on the race among computational resources as is the case with PoW, but on the competition of balances, or stakes. In simple words, every holder of at least one stake, a minimally sufficient amount of crypto, can actively participate in creating blocks and thus also earn rewards under such network consensus model. This process came to be known as staking, and it can be loosely thought of as mining in the PoS environment.
With that established, let’s now see why, after so many years of what comes pretty close to oblivion, it has turned into such a big thing.

Why has staking become so popular, all of a sudden?

The renewed popularity of staking came with the explosive expansion of decentralized finance, or DeFi for short. Essentially, staking is one of the ways to tap into the booming DeFi market, allowing users to earn staking rewards on a class of digital assets that DeFi provides easy access to. Technically, it is more correct to speak of DeFi staking as a new development of an old concept that enjoys its second coming today, or new birth if you please. So what’s the point?
With old-school cryptocurrency staking, you would have to manually set up and run a validating node on a cryptocurrency network that uses a PoS consensus algo, having to keep in mind all the gory details of a specific protocol so as not to shoot yourself in the foot. This is where you should have already started to enjoy jitters if you were to take this avenu entirely on your own. Just think of it as having to run a Bitcoin mining rig for some pocket money. Put simply, DeFi staking frees you from all that hassle.
At this point, let’s recall what decentralized finance is and what it strives to achieve. In broad terms, DeFi aims at offering the same products and services available today in the traditional financial world, but in a trutless and decentralized way. From this perspective, DeFi staking reseblems conventional banking where people put their money in savings accounts to earn interest. Indeed, you could try to lend out your shekels all by yourself, with varying degrees of success, but banks make it far more convenient and secure.
The maturation of the DeFi space advanced the emergence of staking pools and Staking-as-a-Service (SaaS) providers that run nodes for PoS cryptocurrencies on your behalf, allowing you to stake your coins and receive staking rewards. In today’s world, interest rates on traditional savings accounts are ridiculous, while government spending, a handy euphemism for relentless money printing aka fiscal stimulus, is already translating into runaway inflation. Against this backdrop, it is easy to see why staking has been on the rise.

Okay, what are my investment options?

Now that we have gone through the basics of the state-of-the-art cryptocurrency staking, you may ask what are the options actually available for a common crypto enthusiast to earn from it? Many high-caliber exchanges like Binance or Bitfinex as well as online wallets such as Coinbase offer staking of PoS coins. In most cases, you don’t even need to do anything aside from simply holding your coins there to start receiving rewards as long as you are eligible and meet the requirements. This is called exchange staking.
Further, there are platforms that specialize in staking digital assets. These are known as Staking-as-a-Service providers, while this form of staking is often referred to as soft staking. They enable even non-tech savvy customers to stake their PoS assets through a third party service, with all the technical stuff handled by the service provider. Most of these services are custodial, with the implication being that you no longer control your coins after you stake them. Figment Networks, MyContainer, Stake Capital are easily the most recognized among SaaS providers.
However, while exchange staking and soft staking have everything to do with finance, they have little to nothing to do with the decentralized part of it, which is, for the record, the primary value proposition of the entire DeFi ecosystem. The point is, you have to deposit the stakable coins into your wallet with these services. And how can it then be considered decentralized? Nah, because DeFi is all about going trustless, no third parties, and, in a narrow sense, no staking that entails the transfer of private keys. This form of staking is called non-custodial, and it is of particular interest from the DeFi point of view.
If you read our article about DeFi, you already know how it is possible, so we won’t dwell on this (if, on the off chance, you didn’t, it’s time to catch up). As DeFi continues to evolve, platforms that allow trustless staking with which you maintain full custody of your coins are set to emerge as well. The space is relatively new, with Staked being probably the first in the field. This type of staking allows you to remain in complete control of your funds, and it perfectly matches DeFi’s ethos, goals and ideals.
Still, our story wouldn’t be complete if we didn’t mention utility tokens where staking may serve a whole range of purposes other than supporting the token network or obtaining passive income. For example, with platforms that deploy blockchain oracles such as Nexus Mutual, a decentralized insurance platform, staking tokens is necessary for encouraging correct reporting on certain events or reaching a consensus on a specific claim. In the case of Nexus Mutual, its membership token NXM is used by the token holders, the so-called assessors, for validating insurance claims. If they fail to assess claims correctly, their stakes are burned.
Another example is Particl Marketplace, a decentralized eCommerce platform, which designed a standalone cryptocurrency dubbed PART. It can be used both as a cryptocurrency in its own right outside the marketplace and as a stakable utility token giving stakers voting rights facilitating the decentralized governance of the entire platform. Yet another example is the instant non-custodial cryptocurrency exchange service, ChangeNOW, that also recently came up with its stakable token, NOW Token, to be used as an internal currency and a means of earning passive income.

What’s next?

Nowadays, with most economies on pause or going downhill, staking has become a new avenue for generating passive income outside the traditional financial system. As DeFi continues to eat away at services previously being exclusively provided by conventional financial and banking sectors, we should expect more people to get involved in this activity along with more businesses dipping their toes into these uncharted waters.
Achieving network consensus, establishing decentralized governance, and earning passive income are only three use cases for cryptocurrency staking. No matter how important they are, and they certainly are, there are many other uses along different dimensions that staking can be quite helpful and instrumental for. Again, we are mostly in uncharted waters here, and we can’t reliably say what the future holds for us. On the other hand, we can go and invent it. This should count as next.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to BTC.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins!
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/08/cryptocurrency-staking-as-it-stands-today/
submitted by Stealthex_io to StealthEX [link] [comments]

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

If you missed the AMA

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
submitted by stateratoken to StateraToken [link] [comments]

Voici LA chronique à découvrir, intitulée: La guerre contre Bitcoin. Idéal pour comprendre certains tenants et aboutissants

Voici LA chronique à découvrir, intitulée: La guerre contre Bitcoin. Idéal pour comprendre certains tenants et aboutissants… Bonne découverte!
La guerre contre Bitcoin
Bitcoin est peut-être le meilleur outil de liberté économique de cette génération, et peut-être depuis plusieurs générations. Malheureusement, Bitcoin a été furieusement étouffé par une guerre civile brutale depuis environ cinq ans maintenant; menée par des ingénieurs sociaux professionnels de certaines des entreprises les plus puissantes des médias sociaux. Leur talent dans l'art et la science de la manipulation a permis aux "Bitcoiners" de se battre largement entre eux plutôt que de chercher à créer des modèles commerciaux innovants basés sur les données qui pourraient révolutionner l'économie mondiale via Bitcoin.
À la suite de la guerre civile de Bitcoin, trois versions concurrentes de Bitcoin ont vu le jour (BTC, BCH et BitcoinSV ), mais il en est de même pour environ 3000 autres projets et jetons de « crypto-monnaie » se faisant passer pour des entreprises légitimes, souvent jusqu'à un "exit scam" presque garanti, le fait de disparaitre du jour au lendemain avec tout l'argent des utilisateurs. Le principal bienfaiteur de la guerre civile Bitcoin a été Ethereum: une cryptomonnaie qui fonctionne comme une machine à états mondiale et permet un déploiement facile de tokens et de contrats intelligents. Mais le protocole Ethereum ne peut pas évoluer, et parmi les milliers de projets lancés, seule une poignée pourrait même être présentés comme pouvant devenir des entreprises légitimes. La plupart des autres sont des stratagèmes de Ponzi ou des émissions d'actions illégales enrichissant les développeurs et escroquant les investisseurs amateurs.
C'est dans ce contexte que les défenseurs de BTC et de BCH, les porte-parole d'Ethereum et les altcoiners (nom donné pour englober toutes les autres cryptomonnaies) de tous bords s'alignent pour attaquer sans cesse le protocole Bitcoin préservé uniquement par le réseau BSV. Une industrie composée presque entièrement de criminels, de fraudes et d'arnaqueurs s'est unie contre BSV citant - et c'est là l'ironie! - une prétendue fraude et arnaque présumée qui serait l'existence même de BSV.
Nous devons nous demander pourquoi ?
Quel est le différenciateur clé de BSV?
Pourquoi tous les arnaqueurs se sont-ils unis contre lui?
Je suis fermement convaincu que pour la plupart, la motivation est la peur de la capacité de BSV à absorber l'économie mondiale et tous les autres projets «crypto» qui vont avec. Pour les autres, ou ceux qui ne comprennent pas le pouvoir du Bitcoin, ils sont entraînés dans une guerre civile et culturelle qui les dépasse. Il est essentiel de comprendre les pouvoirs en jeu et leurs implications pour Bitcoin et l'économie mondiale.
Une histoire brève de Bitcoin
Bitcoin a été lancé avec un "livre blanc" sur la liste de diffusion de cryptographie en 2008. Le pseudonyme « Satoshi Nakamoto » a déclaré une solution au problème de la double dépense. Or il s'agit là du problème de tous les systèmes de paiement électronique précédents, et c'était le seul facteur limitant l'adoption d'une monnaie digitale fonctionnelle. Mais qu'est-ce que le problème de la double dépense ? Pour faire simple, il était impossible de prouver exactement qui possédait quelles unités d'argent sur des registres distribués, de sorte que les utilisateurs ne pouvaient pas avoir confiance dans le système, et ces projets mourraient assez vite. Bitcoin a résolu ce problème avec un concept appelé la « preuve de travail ». Il pose la question: qui a utilisé le plus de puissance de calcul pour résoudre des énigmes arbitraires ? ceci afin de rendre compte de l'état du registre d'une manière qui coûte de l'argent, de sorte qu'il y ait une incitation économique à tenir un compte honnête des avoirs de chacun des participants. Ce processus est souvent appelé « exploitation minière » car les nœuds honnêtes qui maintiennent l'état du registre sont récompensés pour leur travail avec des nouveaux Bitcoins toutes les dix minutes - un peu à la même manière d'un mineur d'or qui est récompensé par de l'or en échange de son travail.
Étant donné que Bitcoin n'avait aucune valeur lors de son lancement, il était extrêmement facile à miner et également gratuit d'envoyer des tonnes de transactions. En théorie, il s'agissait d'un vecteur d'attaque par déni de service (DoS). Une attaque DoS ou DDoS se produit lorsque les nœuds d'un réseau sont inondés de plus de données qu'ils ne peuvent en gérer et qu'ils se mettent donc à planter. Sur le jeune réseau Bitcoin, un crash comme celui-ci aurait été considéré comme un échec du réseau. Pour empêcher cela, un plafond de 1 Mo de données par chaque dix minutes de transactions a été codé en dur dans le logiciel - semant la première graine de la guerre civile Bitcoin. De 2009 à 2017, cette limite de 1 Mo sur le total des transactions était l'aspect technique le plus controversé du bitcoin et le déclencheur de la plus grande guerre civile virtuelle de l'univers de la cryptomonnaie.
Pourquoi est-ce aussi important?
Une seule transaction basique Bitcoin est relativement petite du point de vue des données, donc 1 Mo toutes les dix minutes donne environ trois à sept transactions par seconde avant que le réseau ne devienne trop encombré. Satoshi Nakamoto le créateur, a plaidé pour un nombre de transactions du niveau de Visa et bien plus, ainsi que son successeur direct en tant que développeur principal du projet, Gavin Andresen. Certains des premiers Bitcoiners influents comme Mike Hearn et Jeff Garzik ont ​​également plaidé pour plus de données par bloc pour permettre à Bitcoin de se développer et de rester le meilleur système de paiement électronique. Ils étaient pour des «gros blocs» contrairement au camp des «petits blocs» qui préconisaient une permanence de la limitation de 1 Mo des blocs.
Le camp des "petits blocs" estiment que Bitcoin n'est pas un réseau de paiement, mais plutôt qu'il s'apparente davantage à une banque décentralisée conçue pour stocker des Bitcoins qui ne bougent jamais: une sorte de coffre-fort d'or numérique. Ils voulaient que la limite de taille des blocs de 1 Mo reste permanente sous les auspices de chaque personne exécutant un «nœud complet» sans avoir à payer trop d'espace sur le disque dur. Cela signifierait qu'en période de congestion, les frais de transaction deviendraient absurdement élevés, mais cela n'aurait pas d'importance car le bitcoin ne devrait pas être utilisé pour des envois sauf en grosses quantités de toute façon, selon eux. En décembre 2017 les frais de BTC ont ainsi atteint les $50 par transaction. L'autre problème est que s'il est bon marché de rejoindre la gouvernance de Bitcoin, alors le réseau est facile à attaquer par Sybil, et je dirais que BTC est régi par des sybilles à ce jour.
Le camp des "gros-blocs" estime que tout le monde sur terre devrait être en mesure d'échanger et de faire ses affaires sur Bitcoin pour des frais infimes, de l'ordre d'un centième ou millième de centime par transaction, afin d'apporter à la population mondiale la liberté monétaire, y compris aux pays les plus pauvres qui sont gardés en dehors du système actuel car considérés comme pas assez profitables pour des entreprises comme Visa.
Les "petits-blocs" pensent que tout le monde devrait être en mesure de gérer soi-même le registre mondial chez soi, mais que seules certaines personnes très riches devraient pouvoir effectuer des transactions, ce qui est le cas quand les frais sont à $50 par transaction comme en 2017.
Après des années de querelles, en 2017, Bitcoin s'est scindé en deux chaînes distinctes, et en 2018, il s'est à nouveau divisé.
Alors quelle est la différence entre ces trois versions ?
BTC est actuellement la version qui a le prix le plus élevé, avec la plus petite taille de bloc et la plus grande puissance de calcul. On peut dire que BTC à gagné la guerre médiatique. Malheureusement, il est régi par des développeurs et des sybilles qui contrôlent le consensus grâce à une utilisation intelligente de logiciels malveillants appelés «soft-fork» qui leur permet de saper les règles du Bitcoin. Ils utilisent ce pouvoir pour changer les règles des transactions en mentant aux nœuds et en leur disant de les valider quand même. Toute la culture BTC consiste à acheter du BTC afin de le conserver jusqu'à un moment dans le futur où il serait revendu à un prix exorbitant. Le but est de spéculer au maximum. Les paiements avec BTC, particulièrement les petits paiements, ou les transactions de toute nature non-monétaires, sont méprisés.
BCH est un réseau basé sur Bitcoin qui pense que les blocs devraient être à peine légèrement plus grands, mais ils ont également des développeurs en charge des règles, tout comme BTC, et ils pensent que Bitcoin devrait être utilisé uniquement pour le commerce de détail, mais rien de plus. Le réseau change de règles tous les six mois. Les transactions non commerciales sont en général méprisées. Un nouveau scindement de BCH est prévu pour novembre 2020 suite à des conflits internes et l'incapacité à avoir un système de gouvernance dans un projet où les règles changent en permanence.
BSV est la version restaurée du protocole Bitcoin original avec tous les paramètres ouverts afin que les nœuds honnêtes puissent s'engager dans un consensus conformément au livre blanc de Bitcoin - par la preuve de travail ! Le protocole est gravé dans la pierre afin que les développeurs de logiciels ne puissent pas bricoler les règles. Cela permet aux entreprises de planifier des décennies d'utilisation du réseau et d'investir en toute confiance. Il s'agit d'apporter une réelle innovation technologique au monde plutôt que de spéculer. En tant que seul réseau bitcoin totalement sans besoin d'autorisation, le commerce de toute nature est encouragé sur BSV. Tout, allant des réseaux sociaux aux expériences de science des données météorologiques ou aux tests de disponibilité du réseau, est encouragé. Paiements de détail, tokenisation, ou tout autre type de contrat intelligent est simple à déployer sans limitations. Bitcoin SV n'a aucune limite dans son protocole sauf l'esprit humain, l'innovation et l'esprit d'entreprise. Il vise également une adoption mondiale notamment par les pays pauvres afin d'apporter la liberté monétaire et l'inclusion à l'économie mondiale de ceux que les grandes entreprises actuelles comme Visa dédaignent comme pas assez profitables pour leur accorder leur services.
Et c'est la racine de la haine envers BSV.
Les "petits-blocs" ont investi toute leur réputation et leurs moyens de subsistance sur la notion que le bitcoin est incapable de s'adapter. Pendant des années, des experts présumés ont convaincu de nombreuses personnes que les limites de taille de bloc de 2 Mo, 8 Mo ou 22 Mo casseraient littéralement Bitcoin. Ils ont furieusement mis en jeux leur réputation sur ces fausses notions. Et ensuite, BSV a eu de nombreux blocs de plus de 100 Mo. En fait, il y en a même eu quelques-uns de plus de 300 Mo! prouvant que les petits-blocs se trompaient depuis le début sur les limites du réseau. Mais cette prise de conscience est une menace pour l'hégémonie de l'histoire médiatique qui a été crée sur Bitcoin. Depuis 2015, lorsque le Dr Craig Wright est apparu sur les lieux pour expliquer que le bitcoin avait en réalité ZERO limitations, il a créé un tollé massif parmi l'intelligentsia des petits-blocs. Les leaders d'opinion de l'époque étaient payés pour prendre la parole lors de conférences où ils expliquaient à tort que Bitcoin n'était rien d'autre qu'une réserve de valeur rare sans autre utilité, et surtout pas à usage des plus pauvres. Le Dr Wright parlait de l'échelle illimitée du réseau, de son exhaustivité de Turing, de l'objectif d'inclure enfin les plus pauvres dans l'économie mondiale, et d'autres notions inconcevables (à l'époque) sur Bitcoin. Sa passion et ses connaissances se sont heurtées à des calomnies et des railleries. Ils se sont concentrés sur l'attaque de son personnage au lieu de discuter de Bitcoin!
C'est devenu l'une des principales méthodes d'attaque des petits-blocs. Lorsque de gros-blocs parlent des capacités de Bitcoin, ils sont ridiculisés en tant qu'escrocs et le sujet est toujours dirigé très loin de la discussion technique, car les petits-blocs savent bien qu'ils sortiraient perdants. Ils fouillent les dossiers personnels et cherchent des moyens de faire taire les gens du camp des grands-blocs de Bitcoin par des attaques personnelles - de la même manière que les guerriers de la justice sociale s'engagent dans la culture d'annulation contre leurs ennemis politiques.
Qui est le Dr Craig Wright et que fait-il?
Craig Wright est le scientifique en chef d'une société de recherche sur Bitcoin au Royaume-Uni appelée nChain : une société de 150 à 200 informaticiens. Craig dirige l'équipe qui étudie les possibilités de Bitcoin et de ses applications dans le monde. Il est l'un des experts en criminalité numérique les plus reconnus au monde avec les certifications SANS et GIAC ainsi que les titres GSE CISSP, CISA, CISM, CCE, GCFA, GLEG, GREM et GSPA. En outre, il est un polymathe multidisciplinaire de troisième cycle: un doctorat en informatique, économie et théologie et titulaire d'une maîtrise en statistique et en droit commercial international.
En 2015, il a également été exposé par une publication conjointe de WIRED et Gizmodo en tant que Satoshi Nakamoto, le créateur de Bitcoin. Quelques jours après cette révélation, les gens qui le soutenaient ont vu leurs clés d'accès au code de Bitcoin révoquées, et de nombreux autres ont été instantanément bannis. Craig a été mis sous enquête par le bureau des impôts australien pour ce qu'il considérait être une erreur de comptabilisation probable de ses bitcoins. Les retombées ont été agressives et rapides, avec une gigantesque armée de petits-blocs, organisée sur Reddit et d'autres forums, et nouvellement financés par l'argent de la startup pro petits-blocs appelée «Blockstream». Leur message était clair: Bitcoin doit garder de petits blocs. Le Bitcoin ne peut pas évoluer et doit rester réservé aux riches, et toute personne proche de Craig Wright sera harcelée pour se conformer à une armée de comptes Twitter anonymes et sans visage.
Voici un schéma qui retrace les financements de Blockstream et révèle comment le groupe Bilderberg, la banque centrale américaine (FED) et Mastercard on pris le contrôle du réseau BTC via Blockstream afin de le soumettre à leur propre profit: https://imgur.com/eFApDVE
Au cours des années suivantes, Ira Kleiman, frère du défunt Dave Kleiman, a poursuivi Craig Wright en justice pour sa part du prétendu «Partenariat Satoshi Nakamoto», affirmant que son frère Dave était plus impliqué qu'il ne l'était réellement, et l'affaire est en cours actuellement, jusqu'à courant 2021. Ira Kleiman pense que Craig est Satoshi et il a investi une fortune incalculable dans cette attaque et a obtenu l'argent d'investisseurs extérieurs pour poursuivre sa poursuite. Il est clair que les bailleurs de fonds d'Ira pensent que Craig est également Satoshi.
Les critiques qualifient souvent la révélation publique et le procès public de Wright de ternir énormément sa réputation, mais il convient de noter que les deux sont arrivés à Wright malgré sa volonté et qu'il ne souhaitait clairement pas être pris dans l'une ou l'autre situation.
Au lieu de cela, Craig est un défenseur passionné de la vision d'un Bitcoin avec de gros blocs, appelant à la professionnalisation, à la légalisation et à l'utilisation mondiale de Bitcoin pour une utilisation à tous les niveaux du commerce. La réponse à la passion de Craig et à ses affirmations a été d'attaquer sa réputation et d'endosser Internet avec le surnom de «Faketoshi». Lorsque de simples brimades ont échoué contre le Dr Wright, des attaques ont été intensifiées pour remettre en question ses divers diplômes, des pétitions aux universités pour enquêter sur lui pour plagiat dans divers travaux, y compris des thèses de doctorat, etc. Wright a même revendiqué des menaces contre la vie des membres de sa famille et il y a plus qu'une preuve que, selon Ian Grigg, une des légendes de la cryptographie: «des gens sont morts pour Bitcoin, croyez moi, des gens sont morts».
Les attaques en cours
Cela ne peut être assez souligné: la communauté des petits-blocs est construite autour de tactiques d'ingénierie sociale professionnelles. Gregory Maxwell, co-fondateur de la société Blockstream, a été formé à la pratique de l'ingénierie sociale et l'a utilisé de manière si subversive comme un outil de propagande pendant son mandat en tant que modérateur rémunéré de Wikipedia, qu'il a finalement été démis de ses fonctions avec les journaux d'administration citant une litanie d'infractions, notamment:
«Gmaxwell s'est engagé dans la création de faux comptes en masse…» - Alhutch 00:05, 23 janvier 2006 (UTC)
«Menaces, insultes grossières, usurpations d'identité d'un administrateur», -Husnock 03:18, 25 janvier 2006 (UTC)
«Son comportement est scandaleux. Franchement, il est hors de contrôle à ce stade. Son comportement d'intimidation doit cesser.» - FearÉIREANN 19:36, 22 janvier 2006 (UTC)
«Sa liste de contributions est hors de propos. C'est du vandalisme. C'est un comportement auquel je m'attendrais d'un éditeur en furie, et franchement, c'est ce qu'est Gmaxwell.» - Splashtalk 20h00, 22 janvier 2006 (UTC)
«Prétend être un administrateur, menaçant de bloquer les personnes qui ne sont pas d'accord avec lui, fait régulièrement des attaques personnelles» - SlimVirgin (talk) 12h22, 22 janvier 2006 (UTC)
Il passe beaucoup de temps sur Reddit et d'autres forums à semer la peur sur les dangers des gros blocs, et il a été surpris en train de faire semblant d'être plusieurs comptes à la fois en train d'avoir de très longues discussions techniques sur Reddit destinées à submerger les nouveaux arrivants avec ce qui ressemble à un débat intellectuel contre une version de Bitcoin libéré de ses limites.
Qui d'autre est attaqué?
L'autre cible commune de la machine de guerre médiatique anti-BSV est Calvin Ayre: un milliardaire à la tête de l'empire du groupe Ayre. Calvin est un entrepreneur canadien et antiguais qui a lancé un incubateur Internet à Vancouver au tout début du boom Internet. Fils d'un éleveur, Ayre est surtout connu en dehors de l'économie Bitcoin pour la création et la professionnalisation de l'industrie du jeu sur Internet. Plus particulièrement, sous la marque Bodog, Ayre a aidé à moderniser les lois financières américaines obsolètes en poussant les limites dans les marchés gris qui existent où les dollars américains sont utilisés à travers les frontières pour s'engager dans un commerce juridiquement compliqué comme le jeu d'argent. Son travail dans ce domaine lui a valu une petite fortune et un passage sur la liste des «plus recherchés» du gouvernement des USA pour blanchiment d'argent. C'est un point sur lequel les petits-blocs aiment se concentrer, mais ils le sortent complètement de son contexte. Calvin a finalement plaidé coupable à une accusation mais a été le fer de lance de la modernisation des lois américaines qui existent aujourd'hui sur les marchés. Il est respecté pour son travail dans l'industrie du jeu, des médias et de la philanthropie. Calvin est le bienvenu aux États-Unis malgré la critique souvent citée selon laquelle il serait une sorte de hors-la-loi.
Calvin Ayre
Dans l'économie Bitcoin, Ayre est une figure de proue dans la gestion de nœuds Bitcoin honnêtes depuis plusieurs années sous les marques CoinGeek et TAAL, et il est un investisseur dans nChain ainsi que plusieurs startups de l'espace BSV. Bien qu'il soit probablement le plus gros investisseur à ce jour, il n'est pas le monopole que les petits-blocs laisseraient croire. Il est important de comprendre que des segments entiers de l'écosystème BSV existent complètement en dehors de son influence.
Twetch, par exemple, est une entreprise indépendante appartenant à l'écosystème BSV, célèbre pour ses attaques contre les médias sociaux centralisés qui abusent de la censure. Ils sont même connus pour se moquer des entreprises qui acceptent l'argent d'Ayre, en plaisantant que Calvin possède tout sauf Twetch. Bien sûr, ce n'est pas vrai. Un autre excellent exemple est l'investisseur / entrepreneur indépendant Jack Liu : ancien dirigeant de Circle et OKEX. Liu possède la marque de hackathons CambrianSV ainsi que des propriétés précieuses dans l'espace BSV telles que RelayX, Streamanity, Output Capital, FloatSV et Dimely.
Les autres acteurs clés sont MatterPool Mining et leur écosystème Mattercloud: une joint-venture entre des acteurs indépendants de l'écosystème BSV, avec des connexions directes aux protocoles BoostPOW et 21e8 et des relations avec des développeurs BSV indépendants.
Bien sûr, il existe également des marques précieuses financées par Ayre. Il s'agit notamment de la propriété partielle via l'investissement dans HandCash, Centi, TonicPow et Planaria Corp de Unwriter.
Une autre mesure importante à prendre en compte est la distribution de la puissance de hachage (autre nom pour la puissance de calcul du résau). Alors qu'au tout début de BSV, les entreprises appartenant à Ayre représentaient une quantité importante de hachage sur bitcoin, afin d'assurer sa survie, BSV est aujourd'hui en grande partie exploité par des mineurs concurrents de Ayre tels que Binance, F2Pool, OKEX et ViaBTC - dont aucun n'est «ami» de BSV ou d'Ayre, mais beaucoup se déclarent les ennemis. Ces mineurs soulignent bien la nature ouverte et sans permission de BSV qui permet à quiconque de participer, notamment à ses ennemis!
Ayre est un acteur important, mais en aucun cas un contrôleur de la direction de la blockchain ou des entreprises indépendantes dans l'économie BSV.
Mais pourquoi Craig poursuit-il des gens en justice ?
Tout d'abord, et c'est crucial, le procès le plus important de Craig est l'affaire Kleiman. Les autres cas existent uniquement à cause de la diffamation publique du Dr Wright. Le hashtag #CraigWrightIsAFraud circule largement, poussé en grande partie par un mélange de personnages anonymes sur Twitter. Plus particulièrement Magnus Granath AKA «Hodlonaut» a été averti qu'une accusation publique de fraude courait à son encontre. La carrière du Dr Wright est en informatique et en criminalistique numérique, donc le déclarer publiquement une fraude sans preuve cause un préjudice financier au Dr Wright dans son domaine d'expertise commerciale. Puisque «Hodlnaut» a refusé de cesser, on lui a envoyer une requête pour être vu au tribunal afin de pouvoir apporter les preuves de ses accusations. Cela a causé le célèbre podcasteur de petits-blocs Peter McCormack à mendier d'être poursuivi aussi - en augmentant la rhétorique diffamatoire contre le Dr Wright. À la demande de McCormack, il a lui aussi été attaqué en justice pour être vu au tribunal. Le Dr Wright à depuis abandonné tous ses procès pour diffamation à l'exception de celui contre McCormack qu'il souhaite continuer pour faire exemple.
Cela a aussi engendré la campagne #DelistBSV menée en grande partie par «CZ», le PDG charismatique de Binance-Exchange. Divers autres échanges comme Shapeshift et Kraken ont publié des sondages twitter demandant s'ils devaient emboîter le pas, et des petits-blocs bien organisés ont voté en masse pour retirer BSV de leurs échanges - citant la toxicité du Dr Wright pour avoir intenté des poursuites en diffamation contre Hodlonaut et McCormack. Finalement, BSV a été retiré de Binance, ShapeShift et Kraken. Il a également été noté publiquement par Coinbase et Gemini qu'ils ne soutiendraient pas cette version de bitcoin à la suite de ce drame public. Il faut noter qu'après 2 ans, Binance a retourné sa veste et est aujourd'hui devenu un des principaux mineurs de BSV.
Au fur et à mesure que les choses progressaient, le fondateur de bitcoin .com, Roger Ver, a également réalisé une vidéo publique déclarant Wright comme arnaqueur. C'était après avoir travaillé sournoisement avec les développeurs Bitcoin ABC pour coder des points de contrôle dans le logiciel ABC de Bitcoin Cash, divisant de manière permanente le réseau Bitcoin pour la deuxième et dernière fois - un acte auquel le Dr Wright s'était opposé et pour lequel Roger est également poursuivi par d'autres parties privées en Floride. Roger Ver a été averti que s'il continuait, des poursuites juridiques similaires se présenteraient à sa porte pour avoir diffamé le Dr Wright, mais il à décidé de poursuivre les accusations publiques jusqu'à ce qu'il soit également entendu devant le tribunal pour fournir une preuve de la fraude de Wright, sous peine de sanctions pour diffamation publique. Aucune preuve n'a jamais été fournit, mais le Dr Wright a depuis abandonné ses poursuites contre Roger Ver pour se concentrer sur son procès avec Kleiman et celui avec McCormack ainsi que son travail sur Bitcoin.
Et maintenant que se passe-t-il ?
Nous avons établi l'histoire du Bitcoin, de sa guerre civile, des attaques publiques contre Wright, Ayre et BSV. Au moment d'écrire ces lignes, nous pouvons revenir sur les attaques contre Thomas Lee, Tim Draper et Jimmy Wales pour avoir eu une proximité avec BSV. Malgré la pression sociale, le rapport technique Fundstrat de Lee a rendu un examen élogieux du protocole fixe et de l'évolutivité infinie de BSV. Lee et son équipe étaient heureux de prendre la parole lors des événements précédents de CoinGeek, même après le tollé public.
Pour la conférence CoinGeek 2020 à New York, McCormack, Hodlonaut, « Arthur Van Pelt » et d'autres acteurs tels que le Dan Held de Kraken et une cacophonie de trolls anonymes sur Twitter ont mis à profit leur expérience de la culture d'annulation à la bolchevique pour faire pression sur l'orateur Gary Vaynerchuk ainsi que d'autres orateurs prévus pour cette conférence, afin de les forcer à annuler leur participation. Cette attaque sociale contre BSV, Dr. Wright, Ayre et les autres entreprises qui utilisent le réseau BSV pourrait être un gigantesque cas de fraude à la consommation. Ils trompent activement les gens en leur faisant croire que le protocole fixe et l'évolutivité infinie de Bitcoin BSV sont en quelque sorte dangereux, alors qu'en fait, le protocole et le réseau sont imperméables à toutes les attaques, à l'exception de leur ingénierie sociale.
Bitcoin SV s'est développé professionnellement avec un portefeuille de brevets de protection de niveau mondial. Il est utilisé par des entreprises indépendantes afin d'apporter des innovations technologiques et possède un groupe décentralisé de nœuds honnêtes qui se font concurrence. Le réseau est fixe, sécurisé et en croissance grâce aux investissements de petites entreprises et de gestionnaires de capitaux. Les transactions sont instantanées avec des frais de 0.0002€ par transaction en moyenne, explosant tous les records de compétitivité de l'écosystème et permettant aux plus pauvres de la planète d'enfin accéder à l'économie digitale mondiale. Les mensonges sont basés sur une campagne massive de dénigrement perpétrée par les communautés d'autres cryptomonnaies qui craignent l'adoption mondiale de BSV comme outil de commerce et ce que cela signifiera pour eux. L'histoire ne sera pas gentille avec ces manipulateurs et leurs réseaux qui sont financés par les fraudes probables des échanges de crypto-monnaies off-shore, le (très probablement) frauduleux Tether Stablecoin, et l'économie des arnaques de "pump-and-dump" qui sous-tend 95% du volume de négociation de l'ensemble de l'économie cryptomonnaie actuelle.
C'est une guerre civile. Il y aura toujours des victimes, mais alors que BTC et BCH se concentrent sur les ragots et les affaires illicites, BSV veut que le monde entier soit plus libre, plus souverain et plus capable de coopérer sur le registre mondial de la vérité afin que les entrepreneurs du monde puissent s'engager à créer des entreprises ou de simples nano-services sont rendus possibles uniquement par Bitcoin. Bitcoin est un test d'intelligence. Au fil du temps, les personnes intelligentes pourront voir à travers le brouillard de distorsion de la réalité créé pour confondre les innocents et reconnaître cela pour ce que c'est, une attaque coordonnée pour tenter de supprimer une technologie qui à un potentiel unique dans l'histoire, et qui les rendrait obsolètes.

Des exemples d'applications Bitcoin que vous pouvez utiliser dès aujourd'hui ?
Les applications qui sont construites sur Bitcoin et interagissent entre elles par ce biais créent ce qu'on appelle le "Metanet". Si vous vous sentez prêt à faire le premier pas dans le futur vous êtes libres de tester les applications les plus populaires du Metanet sur https://metastore.app/apps?sort=money
Le site le plus populaire du Metanet à ce jour est Twetch, une version de twitter incensurable sur la blockchain que vous trouverez ici : bit.ly/twetchapp

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sources: inspiré de https://coingeek.com/the-war-on-bitcoin/
image : https://imgur.com/1Yb0Yle
Voici un schéma qui retrace les financements de Blockstream et révèle comment le groupe Bilderberg, la banque centrale américaine (FED) et Mastercard on pris le contrôle du réseau BTC afin de le soumettre à leur propre profit: https://imgur.com/eFApDVE
submitted by zhell_ to BitcoinSVFrance [link] [comments]

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