Aryacoin is a new cryptocurrency, which allows for decentralized, peer to peer transactions of electronic cash. It is like Bitcoin and Litecoin, but the trading of the coin occurs on sales platforms that have no restriction to use. Further, it was created with the goal of addressing the double spend issues of Bitcoin and does so using a timestamp server to verify transactions. It works by taking the hash of a block of items to be timestamped and widely publishing the hash. The timestamp proves that the data must have existed at the time in order to get the hash. Each timestamp then includes the previous timestamp in its hash, forming a chain. The Aryacoin team is continuously developing new use cases for the coin, including exchanges where users can exchange the coins without any fees or restrictions, and offline options where the coins can be bought and sold for cash. The coins can also be used on the company’s other platform, mrdigicoin.io. Along with the coin, there is a digital wallet that can be created and controlled by the user entirely, with no control being retained by the Aryacoin team.
The concept of Blockchain first came to fame in October 2008, as part of a proposal for Bitcoin, with the aim to create P2P money without banks. Bitcoin introduced a novel solution to the age-old human problem of trust. The underlying blockchain technology allows us to trust the outputs of the system without trusting any actor within it. People and institutions who do not know or trust each other, reside in different countries, are subject to different jurisdictions, and who have no legally binding agreements with each other, can now interact over the Internet without the need for trusted third parties like banks, Internet platforms, or other types of clearing institutions. When bitcoin was launched it was revolutionary allowing people to transfer money to anytime and anywhere with very low transaction fees . It was decentralized and their is no third party involved in the transaction , only the sender and receiver were involved. This paper provide a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions.The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Bitcoin was made so that it would not be controlled or regulated but now exchanges and governments are regulating bitcoin and other cryptocurrencies at every step. Aryacoin was developed to overcome these restrictions on a free currency. Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community.
1.1 OVERVIEW ABOUT ARYACOIN
Aryacoin is a new age cryptocurrency, which withholds the original principle on which the concept of cryptocurrency was established. Combining the best in blockchain technology since the time of its creation, Aryacoin strives to deliver the highest trading and mining standards for its community. Aryacoin is a blockchain based project that allows users to access their wallet on the web and mobile browsers, using their login details. Aryacoin can be mined; it also can be exchanged by other digital currencies in several world-famous exchanges such as Hitbtc, CoinEx, P2pb2b, WhiteBit, Changelly and is also listed in reputable wallets such as Coinomi and Guarda. Aryacoin is a coin, which can be used by anyone looking to use cryptocurrency which allows them to keep their privacy even when buying/selling the coin along with while using the coin during transactions. Proof of work and cryptographic hashes allows transactions to verified. Stable Fee Per AYA is a unique feature of Aryacoin, so by increasing the amount or volume of the transaction, there is no change in the fee within the network, which means that the fee for sending an amount less than 1 AYA is equal to several hundred million AYA. Another unique feature of Aryacoin is the undetectability of transactions in Explorer, such as the DASH and Monero, of course, this operation is unique to Aryacoin. Using Aryacoin digital currency, like other currencies, international transactions can be done very quickly and there are no limitations in this area as the creators claim. Aryacoin aims to allow users to access the Aryacoin wallet via the web and mobile browsers using their login details. Aryacoin is a peer-to-peer electronic cash system that enables users to send and receive payments directly from one party to another, and allow them to transfer funds across borders with no restriction or third party involvement. The blockchain-based system embraces the digital signature, which prevents double spending and low transfer fees, which enables users to transfer huge amounts with very low fees. The proof-of-work consensus mechanism allows each transaction to be verified and confirmed, while anonymity enables users to use the coin anywhere at any time. According to the website of the operation, each wallet is divided into 2 or more AYA wallet addresses for each transaction, and depending on the volume of the transaction block, the origin, and destination of transactions in the network can not be traced and displayed to the public. In fact, each wallet in Aryacoin consists of a total of several wallets. The number of these wallets increases per transaction to increase both security and privacy. Aryacoin also uses the dPoW protocol. In the dPoW protocol, a second layer is added to the network to verify transactions, which makes “51% attack” impossible even with more than half of the network hash, and blocks whose Blockchain uses this second layer of security never run the risk of 51% attacks. AYA has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.
1.1.1 ARYACOIN HISTORY
Aryacoin (AYA) is a new cryptocurrency, which has been created by a group of Iranian developers, is an altcoin which allows for decentralised, peer to peer transactions of electronic cash without any fees whatsoever. Along with the coin, there is a digital wallet that can be created and managed by the user entirely, with no control being retained by the Aryacoin team. Aryacoin’s founder, Kiumars Parsa, has been a fan of alternative currencies and particularly Bitcoin. “We see people from all around the world using Blockchain technology and the great benefits that came with it and it then that I decided to solve this puzzle for find a way of bringing the last missing piece to the jigsaw. The idea for Aryacoin was born.” Parsa said. Parsa and his team of Iranian ex-pats not only persevered but expedited the project and just a year later, in the summer of 2019, the first version of Aryacoin was released. In 2020, Aryacoin is the first and only Iranian coin listed on CMC. Parsa goes on to state that it is now the strength of the community that has invested in the coin that will ultimately drive its success, alongside its robust technology and appealing 0% network fees. “We have thousands of voices behind Aryacoin. People for the people make this coin. It is a massive shout out for democracy. This had made us base the whole team strategy on the benefits for both our users and our traders.” “One key example is that the network fee on AYA Blockchain is 0%. Yes, absolutely nothing, which which differentiates us from other networks. What also differentiates us from other coins is that we have AYAPAY which is the first cryptocurrency Gateway in the world which does not save funds on third party storage with all funds being forwarded directly to any wallet address that the Gateway owner requests”. “So for the first time ever, and unlike other gateways, incoming funds will be saved on the users account with submitted withdrawal requests then made on the Gateway host website. In AYAPAY which has also been developed by the Aryacoin team, all funds without extra fees or extra costs will directly forwarded to users wallets. We have named this technology as CloudWithdrawal.” “We are continuously challenging ourselves as it is a crowded marketplace. We are striving to have a safer Blockchain against 51% attacks, faster confirmations speeds of transactions, cheaper network fee, growing the market by cooperation with Top tier Exchangers.”
1.1.2 ARYACOIN’S MAIN GOAL
Aryacoin’s main goal is to educate people and give them the freedom to use cryptocurrency in any way they want. Aryacoin empowers the users to transfer, pay, trade cryptocurrency from any country around the globe. Platforms that have been created by Aryacoin Team, as well as those that will go live in future, operate on the same principle and exclude absolutely no one.
1.1.3 PROBLEM ARYACOIN SEEKS TO SOLVE
Aryacoin aims to provide a long-term solution to the problem of double spending, which is still common in the crypto market. The developers of the system have created a peer-to-peer distributed timestamp server that generates computational proof of the transactions as they occur. Besides, the system remains secure provided honest nodes control more CPU power than any cooperating group of attacker nodes. While Bitcoin was designed not to be regulated or controlled, many exchanges and governments have put regulatory measures on the pioneer cryptocurrency at every step. Aryacoin aims to overcome these restrictions as a free digital currency.
1.1.4 BENEFITS OF USING ARYACOIN
Aryacoin solution offers the following benefits:
Real-time update: whether you’re going on a holiday or a business trip, no problem. You can access your coins all over the world.
Instant operations: Aryacoin makes it quite easy for you to use your digital wallet and perform various operations with it.
Safe and secure: all your data is stored encrypted and can only be decrypted with your private key, seed, or password.
Strong security: The system has no control over your wallet. You are 100% in charge of your wallet and funds.
1.1.5 ARYACOIN FEATURES
1. Anonymity The coin provides decent level of anonymity for all its users. The users can send their transactions to any of the public nodes to be broadcasted , the transaction sent to the nodes should be signed by the private key of the sender address . This allows the users to use the coin anywhere any time , sending transactions directly to the node allows users from any place and country . 2. Real Life Usage aryacoin’s team is continuously developing new and innovative ways to use the coins , they are currently developing exchanges where the users can exchange the coins without any fees and any restrictions . They also are currently developing other innovative technologies, which would allow users to spend our coins everywhere and anywhere. 3. Offline Exchanges They are also working with different offline vendors which would enable them to buy and sell the coins directly to our users on a fixed/variable price this would allow easy buy/sell directly using cash . This would allow the coins to be accessible to users without any restrictions which most of the online exchanges have, also increase the value and number of users along with new ways to spend the coin. This would increase anonymity level of the coin. In addition, introduce new users into the cryptomarket and technology. Creating a revolution, which educates people about crypto and introduce them to the crypto world, which introduces a completely new group of people into crypto and a move towards a Decentralized future! 4. Transactions When it comes to transactions, Aryacoin embraces a chain of digital signatures, where each owner simply transfers the coin to the next person by digitally signing a hash of the previous transaction and the public key of the next owner. The recipient can then verify the signatures to confirm the chain of ownership. Importantly, Aryacoin comes with a trusted central authority that checks every transaction for double spending. 5. Business Partner with Simplex Aryacoin is the first and only Iranian digital currency that managed to obtain a trading license in other countries. In collaboration with the foundation and financial giant Simplex, a major cryptocurrency company that has large companies such as Binance, P2P, Changelly, etc. Aryacoin has been licensed to enter the world’s major exchanges, as well as the possibility of purchasing AYA through Credit Cards, which will begin in the second half of 2020. Also, the possibility of purchasing Aryacoin through Visa and MasterCard credit cards will be activated simultaneously inside the Aryacoin site. plus, in less than a year, AYA will be placed next to big names such as CoinCapMarket, Coinomi, P2P, Coinpayments and many other world-class brands today.
1.1.6 WHY CHOOSE ARYACOIN?
If you want to use a cryptocurrency that allows you to keep your privacy online even when buying and selling the coins, the Aryacoin team claims that AYA is the way to go. Aryacoin is putting in the work: with more ways to buy and sell, and fixing the issues that were present in the original Bitcoin, plus pushing the boundaries with innovative solutions in cryptocurrencies. You can get started using Aryacoin (AYA) payments simply by having a CoinPayments account!
1.1.7 ARYANA CENTRALIZED EXCHANGE
Aryana, the first Iranian exchange is a unique platform with the following features:
The first real international Persian exchange that obtains international licenses and is listed in CoinMarketCap.
The first Iranian exchange that has been cooperating with a legal and European exchange for 3 years.
The possibility of trading in Tomans (available currency in Iran) at the user’s desired price and getting rid of the transaction prices imposed by domestic sites inside Iran.
There is an internal fee payment plan by Iranian domestic banks for depositing and withdrawing Tomans for Aryacoin holders in Aryana Exchange.
The number that you see on the monitor and in your account will be equal to the number that is transferred to your bank account without a difference of one Rial.
The last but not least, noting the fact that there is a trading in Tomans possibility in Aryana exchange.
Aryana Exchange is using the most powerful, fastest, and most expensive server in the world, Google Cloud Platform (GCP), which is currently the highest quality server for an Iranian site, so that professional traders do not lag behind the market even for a second. The feature of Smart Trading Robots is one of the most powerful features for digital currency traders. Digital cryptocurrency traders are well aware of how much they will benefit from smart trading robots. In the Aryana exchange, it is possible to connect exchange user accounts to intelligent trading bots and trade even when they are offline. The injection of $ 1 million a day in liquidity by the WhiteBite exchange to maintain and support the price of Tether and eliminate the Tether fluctuations with Bitcoin instabilities used by profiteers to become a matter of course.
1.1.8 HOW DOES ARYACOIN WORK?
Aryacoin (AYA) tries to ensure a high level of security and privacy. The team has made sure to eliminate any trading restrictions for the network users: no verification is required to carry out transactions on AYA, making the project truly anonymous, decentralized, and giving it a real use in day-to-day life. The Delayed-Proof-of-Work (dPoW) algorithm makes the Aryacoin blockchain immune to any attempts of a 51% attack. AYA defines a coin as a chain of digital signatures — each owner transfers the coin to the next owner by digitally signing the hash of the previous transaction and the public key of the next owner, and the receiver verifies the signatures and the chain of ownership.
2. ARYACOIN TECHNOLOGY
They use a proof-of-work system similar to Adam Back’s Hashcash to implement a distributed timestamp server on a peer-to-peer basis, rather than newspaper or Usenet publications. The proof-of-work involves scanning for a value that when hashed, such as with SHA-256, the hash begins with a number of zero bits. The average work required is exponential in the number of zero bits required and can be verified by executing a single hash. For their timestamp network, they implement the proof-of-work by incrementing a nonce in the block until a value is found that gives the block’s hash the required zero bits. Once the CPU effort has been expended to make it satisfy the proof-of-work, the block cannot be changed without redoing the work. As later blocks are chained after it, the work to change the block would include redoing all the blocks after it. The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If honest nodes control a majority of CPU power, the honest chain will grow the fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of the block and all blocks after it, then catch up with, and surpass the work of the honest nodes.
The steps to run the network are as follows:
New transactions are broadcast to all nodes.
Each node collects new transactions into a block.
Each node works on finding a difficult proof-of-work for its block.
When a node finds a proof-of-work, it broadcasts the block to all nodes.
Nodes accept the block only if all transactions in it are valid and not already spent.
This is a very simple system that makes the network fast and scalable, while also providing a decent level of anonymity for all users. Users can send their transactions to any of the public nodes to be broadcast, and the private key of the sender’s address should sign any transaction sent to the nodes. This way, all transaction info remains strictly confidential. It also allows users to send transactions directly to the node from any place at any time and allows the transferring of huge amounts with very low fees.
2.3 AYAPAY PAYMENT SERVICES GATEWAY:
According to creators Aryacoin, the development team has succeeded in inventing a new blockchain technology for the first time in the world, which is undoubtedly a big step and great news for all digital currency enthusiasts around the world. This new technology has been implemented on the Aryacoin AYAPAY platform and was unveiled on October 2. AYAPAY payment platform is the only payment gateway in the world that does not save money in users’ accounts and transfers incoming coins directly to any wallet address requested by the gateway owner without any additional transaction or fee. In other similar systems or even systems such as PayPal, money is stored in the user account.
2.4 CONSENSUS ALGORITHM IN ARYACOIN
The devs introduced the Delayed-Proof-of-Work (dPoW) algorithm, which represents a hybrid consensus method that allows one blockchain to take advantage of the security provided by the hashing power of another blockchain. The AYA blockchain works on dPoW and can use such consensus methods as Proof-of-Work (PoW) or Proof-of-Stake (PoS) and join to any desired PoW blockchain. The main purpose of this is to allow the blockchain to continue operating without notary nodes on the basis of its original consensus method. In this situation, additional security will no longer be provided through the attached blockchain, but this is not a particularly significant problem. dPoW can improve the security level and reduce energy consumption for any blockchain.
2.5 DOUBLE-SPEND PROBLEM AND SOLUTION
One of the main problems in the blockchain world is that a receiver is unable to verify whether or not one of the senders did not double-spend. Aryacoin provides the solution, and has established a trusted central authority, or mint, that checks every transaction for double-spending. Only the mint can issue a new coin and all the coins issued directly from the mint are trusted and cannot be double-spent. However, such a system cannot therefore be fully decentralized because it depends on the company running the mint, similar to a bank. Aryacoin implements a scheme where the receiver knows that the previous owners did not sign any earlier transactions. The mint is aware of all transactions including which of them arrived first. The developers used an interesting solution called the Timestamp Server, which works by taking a hash of a block of items to be ‘timestamped’ and publishing the hash. Each timestamp includes the previous timestamp in its hash, forming a chain. To modify a block, an attacker would have to redo the proof-of-work of all previous blocks, then catch up with, and surpass the work of the honest nodes. This is almost impossible, and makes the network processes more secure. The proof-of-work difficulty varies according to circumstances. Such an approach ensures reliability and high throughput.
3. ARYACOIN ROADMAP
April 2019: The launch of Aryacoin; AYA ICO, resulting in over 30BTC collected December 2019: The launch of AYA Pay April 2020: The successful Hamedan Hardfork, supported by all AYA exchanges, aimed at integrating the dPoW algorithm, improving the security of the AYA blockchain. June 2020: Aryana Exchange goes live, opening more trading opportunities globally July 2020: The enabling of our Coin Exchanger November 2020: The implementation of Smart Contracts into the Aryacoin Ecosystem Q1 2021: Alef B goes live (more details coming soon)
Aryacoin (AYA) is a new age cryptocurrency that combines the best of the blockchain technology and strives to deliver high trading and mining standards, enabling users to make peer-to-peer decentralized transactions of electronic cash. Aryacoin is part of an ecosystem that includes payment gateway Ayapay and the Ayabank. AYA has a partnership with the Microsoft Azure cloud platform, which provides the ability to develop applications and store data on servers located in distributed data centers. The network fee for the AYA Blockchain is 0%. In Ayapay service, which has been developed by the Aryacoin team, all funds without extra fees or costs are directly forwarded to users’ wallets with technology called CloudWithdrawal. The devs team is introducing new use cases including exchanges where users will exchange AYA without any restrictions. You can buy AYA on an exchange of your choice, create an Aryacoin wallet, and store it in Guarda.
Dragonchain Great Reddit Scaling Bake-Off Public Proposal
Dragonchain Public Proposal TL;DR:
Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and postsper Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625. Watch Joe walk through the entire proposal and answer questions onYouTube. This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!
I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale. For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube. We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoC
In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks. 24 hours in 4 minutes (YouTube): 24 hours in 4 minutes The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period. Tooling to reproduce our demo is available here: https://github.com/dragonchain/spirit-bomb
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired. Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity. TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block. TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain. With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times. We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment. Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in Scaling
Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems. We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
LBRY - To allow users to deploy content natively to LBRY
MakerDAO to allow users to lend small amounts backed by their Reddit community points.
STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction. Dragonchain Fees Table
How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node. Getting started is easy...
Download Dragonchain’s dctl
Input three commands into a terminal
Build an image
More information can be found in our Get started documents.
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain. Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain. After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks. Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD. For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments. Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users. Over a 5 day period, your scaling PoC should be able to handle: *100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes. Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum. Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
Operational on-premises capabilities
Operational deployment to any datacenter
Over 700 independent Community Verification Nodes with proof of ownership
Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node. Examples:
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users. All of Reddit's Transactions on Blockchain (month) Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees. Reddit Internal Token Transaction Fees Reddit Ethereum Token Transaction Fees When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
In a combination of the above, customers could cover aggregated fees.
Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.
Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here. Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here. In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here. A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible APIs should be well documented and stable
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected. Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR. Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus points Public, third-party implementation review available or in progress
Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).
Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open Source
The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group. https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html
In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney. Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
Obtain VP support and approval for the release
Verify ownership of the software to be released
Verify that no proprietary content would be released
Convince the organization that there was a value to the open source community
Convince the organization that there was a value to Disney
Offer the plan for ongoing maintenance of the project outside of Disney
Itemize competing projects
Verify no conflict of interest
Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
Obtain legal approval
Approval from corporate, parks, and other business units
Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
Trademark searches conducted for the selected name Dragonchain
Obtain IT security approval
Manual review of OSS components conducted
OWASP Dependency and Vulnerability Check Conducted
Obtain technical (software) approval
Offer management, process, and financial plans for the maintenance of the project.
Meet list of items to be addressed before release
Remove all Disney project references and scripts
Create a public distribution list for email communications
Remove Roets’ direct and internal contact information
Create public Slack channel and move from Disney slack channels
Create proper labels for issue tracking
Rename internal private Github repository
Add informative description to Github page
Expand README.md with more specific information
Add information beyond current “Blockchains are Magic”
Add getting started sections and info on cloning/forking the project
Add installation details
Add uninstall process
Add unit, functional, and integration test information
Detail how to contribute and get involved
Describe the git workflow that the project will use
Move to public, non-Disney git repository (Github or Bitbucket)
Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney. The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release. Original OSSRELASE-10 document
With newer technologies being launched each day, the tendency to the adoption of such leading edge engineering methodologies has been boosting every industrial area. The present market situation is such, in the event that you have to remain in the opposition, you have to get the new components of innovation. In the present market, if you have to stay in the competition, you have to pick up the new elements of technology. With startups failing to implement them, mobile application experts are struggling to keep pace with such huge numbers of techs simultaneously, exploring the massive growth of the current industry seems like a needful task. Over numerous years, block-chain has held its status as a progressive thought with positive perspectives for multiple industries. This digital ledger system became popular during the times of cryptocurrency, and since then, been praised for its secure and reliable approach. Block-chain includes features like peer-to-peer payment architecture, decentralization, and security which makes it fascinating for developers. In the field of mobile apps, block-chain serves as a bountiful example, to build applications that are free from frauds, data leaks, and security threats. Given the circumstances, blockchain is a concept of developers, the practical applications of which are in the initial stages of development. However, once understood, it holds a tremendous capacity to revolutionize the market. This game-changing technology is an important trend for the mobile app industry.
What is Blockchain Technology?
The reliable system operates by transforming data across network steadily so that no participants in the system are able to hack or tamper the blocks distributed. The blocks formed with a cryptographically line that helps to prevent a reformed process from an unknown member. This blockchain holds distinctive features of distributed ledger technology, which safely stores data over the peer-to-peer network. Blockchain ledgers can involve land documents, loans, integrity, assets, and inventory etc. that can be stored strongly, where everyone has permission to see yet can’t change the results shared.
How Does Blockchain Work?
A blockchain is a string of numerous blocks stored together. Each time a transaction occurs, it creates a new block and is stored in the digital ledger system. The following points state how blockchain works-
A transaction needs to happen. For instance, you bought something from the XYZ store. When you have made a purchase, a block is created for it. Now, every transaction is grouped with thousands of other transactions in the block.
The transaction should be checked. That is the job for a network of computers. These systems verify whether a transaction occurred from the XYZ store. When they confirm details of the purchase, it is verified.
The transaction has to be stored in the block. When your transaction is verified, along with its dollar amount, digital signature, and the XYZ store’s digital signature, all this information is stored in the block. This block then joins the other hundreds and thousands of blocks, like it.
The block should be assigned a unique code/hash. Once the information is verified, it is provided with a unique identifying code, the hash. Once hashed, the block can then be added to the blockchain.
Each new block added to the blockchain is public. That implies anyone can see it. Details like who when were the block added, where was it added, and by whom was it added is visible to the users of the blockchain.
Does this Mean, Blockchain has a Public Infrastructure?
It is true, anyone can see the contents of the blockchain. In a blockchain, you can also connect your computers to the blockchain, as nodes. Along these lines, every computer in the blockchain network receives a copy of every block whenever it is updated. It’s like your News Feed, when there is an update, you see the new fresh content at the top. So, when everyone can view each information, where does the security feature in blockchain come from? In a blockchain network, there are millions of copies of the same block. This implies each copy of the blockchain is identical. So, it’s not possible for anyone to keep a record of such huge numbers of events. If any programmer needs to even manipulate the data of any block, they should change every copy on the blockchain network. Also, since you don’t have any knowledge of the users making the transactions, its data, to any hacker or user, is completely anonymous. Only those who hold details regarding the digital signature or the username can access the information in a block and understand it. In this way hacking and manipulation is something that can’t occur in a blockchain environment.
Why is Blockchain a Popular Concept for Mobile App Developers?
Blockchain was first referenced in BitcoinTalk, the largest forum committed to Bitcoin. Many-a-times blockchain is said to give a steady base to cryptocurrency operations. In the previous few years, it has gained tremendous popularity, as a technology database. But, what invited its attention in the minds of the developers was its decentralized nature and secure access. Since then, blockchain has become a fascinating idea for developers. Surely, it leads to transparency, yet it decreases fraudulent transactions, and data tampering activities as well. Application developers are using this technology to make digital payments more accessible, simple, and secure. The nature of peer-to-peer transactions makes it an ideal fit for banking applications that needs such a type of technology. You can also know- A Complete Guide To Choose Block-chain Platform For Business Growth.
Blockchain can Reshape the Future for Mobile App Developers-
Blockchain provides an edge to all those people who like to indulge in digital payments rather than cash to cash transactions.
But why is blockchain said to be fit in today’s market scenario?
digital transformations are at its top in the 21st century. Each business has a digital store, and an ever increasing number of customers are accessing the online platforms, to enjoy everyday services as well. The digital world is providing the right momentum to blockchain technology and has evoke its need in the market. Blockchain is becoming increasingly popular for mobile payment apps because of its exceptionally secured features. Let us see common types of blockchain-based mobile apps- 1. Apps for exchanging cryptocurrencies- This way, a person is totally in control of the digital resources and perform trading transactions using them. Such applications can be used for a wide range of payments and transactions. 2. E-wallets- E-wallets that can store all the digital assets and money. You can carry out the transactions through the application powered by blockchain technology. 3. Apps that help you to track rates- cryptocurrency trades, market dynamics and other scope of blockchain services. 4. Retails applications with a background of blockchain technology allowing customers to pay using cryptocurrency and bitcoin. Now, let’s look why blockchain is apt for mobile app developers-
1. Enhanced data protection and privacy –
Blockchain is known for its great security. Developers can use this tech, to create multiple protection layers into their data. The private keys to this data will be just assigned to the users, making it impossible for anyone without a decryption key, to manipulate the transaction details. Since it is a decentralized system, it keeps a replica of each transaction on its computer network. This reduces the risk of data loss as well. Since hackers won’t have any knowledge about the user’s data and their private key as well, no fraudulent or unauthorized activities can take place.
2. Data transparency is an advantage too-
In a blockchain, the information about every transaction is visible to everyone. This implies anyone can see the details in real-time. However, since the data is stored by digital names and signatures, it is mysterious to others. They can see the transaction but will not know who made it (the real name and personal information). This way, no one can change the information in a specific block. Blockchain stores all the data in public view. Hence, if the user makes any manipulations to their data also, it won’t go unnoticed. Log for each change is made in this digital ledger system.
3. Secure mobile payments –
Introducing blockchain with mobile app serve one central motto, securing digital payments. Since more and more people are opting contactless mobile payments, protecting them with blockchain’s secure architecture seems to be a good idea. Numerous developers are focussing on coding a a more secure and affordable mobile payments app. Blockchain will help these developers in securing the infrastructure of similar mobile apps. Also, since thousands of nodes function, it is improbable that they will crash simultaneously. This also reduces the downtime of such applications.
4. No need for passwords anymore –
To deal with any application, you need a password and login-id to authenticate your users. There are a lot of issues related to use of passwords. Anyone can track it and if you forget your password, getting a new one is a tedious task. With blockchain, users don’t need any password. The network of computers connected validates a transaction. Also, since blockchain is built on cryptographic codes like a hash that uses a digital signature to unlock all the digital assets for the involved parties, the authentication systems of such applications will become immutable, irrefutable, and incorruptible. This makes the process of accessing your resources, a seamless experience.
5. Improves the Efficiency of apps –
For each mobile application you use, you need a third-party mediator for it. In a blockchain, you do not need any party to finish the transaction. This improves the effectiveness and the speed of transactions. As indicated by a report, blockchain-based transactions are 10 times faster than the bank ones. In a blockchain, every transaction is approved by a computer. Hence, dissimilar to a traditional bank that takes days to settle a transaction, blockchain can do it in 2-3 minutes.
6. It reduces the cost per transaction-
In normal transactions that include third-party apps, blockchain removes any such middlemen. Also, the intermediate parties charge per transaction that reaches completion using their portal. Blockchain doesn’t charge any such fee and still gets the transaction completed. The eviction of such mediators reduces the transactional costs for both, the business and the users.
Utopia, 1984 Group, bad PR, 1984 Group and [NetStalkers] media garbage
What would you understand immediately reading my post, I do not want to throw mud at the program or the team of 1984. I just want to explain to everyone that you need to look for advantages in everything and bring the matter to a logical conclusion. And the most important thing is to be committed to your work. And if you choose any product, you must be faithful to it to the end. Be the captains who are to the end with the ship, not the rats running from it. Hello In today's post, I would like to tell an interesting story that there is really worthwhile software in the world, what marketing is wrong, and how it is bad to turn to wrong media personalities. Of course, most people know about it. But I think this should be publicly shown, maybe for many and will be useful in the future. But every cloud has a silver lining. In any case, I think this will be a good stress test for the web. So I can say that even if a bad PR company gives a good result. Let's start from the very beginning, namely from the software Utopia and the 1984 Group. Of course, little is known about them; more precisely, practically nothing is known. But there is a brief information about her. All of course taken only from the official beta of the portal and block hackology Spoiler for compact post) About Utopia ecosystem Utopia – Anti 1984 Ecosystem Utopia is a decentralized peer-to-peer network, With Utopia you can send instant text and voice messages, transfer files, create group chats and channels, send emails and conduct a private discussion. Currently Utopia is an application for Windows, iOS and Linux which offers all the features within one application. Utopia users get on their ‘Utopia ecosystem‘ as the application also provides a built-in Idyll browser to view websites within Utopia peer-to-peer network . Utopia comes with a Cryptocurrency which is called ‘Crypton‘ and is Proof-of-Stake. uWallet allows you to store,transfer your Crypton(CRP) or even create vouchers and credit cards, Utopia Network includes Utopia Name System (UNS) which is a decentralized registry of names that are impossible to expropriate, freeze or corrupt by 3rd-party as no one has control over the system rather its self-governed by rules set in place which are applicable to everyone. Register yourself as a Beta Tester, Contributor or a Promoter. Each category gets to enjoy the ecosystem while the rewards vary (reward system will be explained shortly). Utopia ecosystem is a culmination of multi-year effort by a group of technology enthusiasts dedicated to freedom of self-expression and privacy. We call ourselves a 1984 Group. Among us there are top-notch professionals in almost every IT field, such as cryptographic, software, networking engineers and many more. This has been a long and challenging journey. After all this had never been done before! Finally, we present an ecosystem that will change the way World communicates and handles financial transactions. Utopia brief taken from their official website. Mentioning ‘financial transactions’ makes one wonder that Bitcoin was also disrupting the conventional financial system Lets Explore Utopia and all the features in detail. please note as this is a beta application many of the features might change in future or some even get removed. Utopia Encryption Each user participates in transmission of network data but only the recipient can decrypt the data. Advanced encryption ensures interception-proof communication channel to all Utopia users. All communication is secure and protected by Curve25519 high-speed elliptic curve cryptography while local storage is encrypted by 256-bit AES. Big Brother is no longer watching you! Installing Utopia Once you register on the Beta Portal you have to download Utopia Application. After installing the application you will be given a Hardware ID and a Private Key, these keys are required to activate your beta license which can be done from the Activation Page. Please keep in mind that your beta portal website login credentials are not linked with Utopia Application and you can have a different username for the app and the website. Once you activate the license your utopia account will be tied with your beta portal account. A step by step procedure for easy understanding of the activation procedure: Register at Utopia Beta Portal Download Utopia software Install the program by following simple instructions on installation wizard Run Utopia and Create your account. You will be provided with Public Key and Hardware ID. Those are needed to activate your Utopia software Login to your account Click on JOIN BETA Agree to the Rules and click SUBMIT Click on NEW ACTIVATION and Enter Public Key and Hardware ID Click ADD Now your Utopia is activated and you are ready to test it https://preview.redd.it/gq8brrk1rmc31.jpg?width=880&format=pjpg&auto=webp&s=02a96016755765dfef53309eb78a4abf0011d9c6 Utopia Dashboard Utopia is a feature-rich platform that is specifically designed to protect privacy of communication, confidentiality and security of personal data. It was created for privacy-conscious public who believe that privacy is paramount. Utopia is a decentralized network, with no central server involved in data transmission or storage. The network is supported by people who use it’s many high quality features. https://preview.redd.it/w2nhvx54rmc31.jpg?width=1366&format=pjpg&auto=webp&s=d5f7a958c67ca46ba2c2d34489c83579c0d18d0b The first glimpse we get of the application is at the Dashboard which has navigational menu for easy access to all of its many features for us to explore, use and report bugs while it is in beta testing phase. uMail (Utopia Mail) uMail is a secure alternative to classic e-mail. uMail can be sent to Utopia users that are in your contact list for now. uMail has all functionality of email localized to Utopia ecosystem. No servers are used for mail transmission or storage. uMail account, that is created by default when you join the Utopia network, enables unlimited messaging and attachment storage. Utopia ecosystem encryption guarantees the security of mail transmission and storage. Your uMail, as an internal part of Utopia, cannot be blocked or seized. https://preview.redd.it/8q7ljch6rmc31.jpg?width=1366&format=pjpg&auto=webp&s=2bcc4896fa74bb5d2ca23c4c9414fcd4d015ab41 All those who value their data privacy would find this useful including activists and journalists knowing that their data is going straight to the designated user and no 3rd party can intercept their data. Currently the limit set for the attachments is 100 MB but as per the team it may be increased in future. uWallet (Utopia Wallet) All financial functionality can be found in Utopia built-in uWallet. uWallet allows you to make and accept payments denominated in Utopia cryptocurrency ‘Crypton‘, accept payments at your website, pay by Crypto Cards without revealing your Identity or bill fellow Utopia users for your services. With uWallet you can store value in Cryptons, receive mining rewards, use uVouchers, request payments and accept payments using the built-in API. Utopia Mining – Crypton Utopia has an inbuilt cryptocurrency called Crypton (CRP), which is proof-of-stake therefore a modest machine can also be used to mine cryptons through the GUI based Utopia application or with terminal based Mining bot which comes with the application. https://preview.redd.it/aadlqb8crmc31.jpg?width=814&format=pjpg&auto=webp&s=2a100b98b2d912898d1b4a316f05f999846ab7b1 Utopia rewards users that support the ecosystem through Mining by emission of new Cryptons. When you run your Utopia software or bot you will receive your share of collective reward. Mining does not slow your computer down and is environmentally friendly. You may also run a number of bots at several servers or computers to multiply the Crypton mining speed. https://preview.redd.it/2yktqfkermc31.jpg?width=1024&format=pjpg&auto=webp&s=c099c8439d25ea1e95682c14116d812f85180dc6 uNS (Utopia Naming System) Utopia has introduced uNS (Utopia Naming System) which is a unique naming system and independent from the conventional Domain Naming System. DNS is subject to pressure and censorship from less than prefect international laws. Domains can be revoked or suspended due to multiple reasons, such as non-response to WhoIS inquiry or other register policies, non-payment, government actions and so on. uNS, in contrast, is a truly decentralized non-censored registry hosted by Utopia Network participants with no expiration dates, renewal fees, suspensions and revocations. There is only one rule: First come, First served. https://preview.redd.it/pfwstp5grmc31.jpg?width=1024&format=pjpg&auto=webp&s=1e282b2ad57f61ae3e4a114e75a96e20f7fc3a73 uNS registered name should be unique. You may register as many uNS registered names as you want while registration is not free and costs are paid in crypton: Single letter uNS costs 1000 CRP Two letter uNS costs 500 CRP Three letter uNS costs 5 CRP Four letter or more costs 0.1 CRP Miscellaneous Features Making Groups, Adding users, Chatting and Emailing, Sending Mails and Mining Cryptons might be the highlights but Utopia claims to be an ecosystem therefore they had to incorporate many more features so that users of Utopia ecosystem do not feel the need to go out of the system. List of other useful features within the Utopia Application are listed Packet Forwarding : uNS Manager lists option of ‘Packet Forwarding’ which is an internal system allowing any utopian user to host a website which can be accessed by the Idyll browser, the naming system of the website is explained above, if you register hackology uNS you can make a website and it will open when you visit http://hackology/ and that is it. This option allows to tunnel any kind of data between users in ecosystem, making possible to host different types of resources including websites inside Utopia Network. At the time of writing few fellow Utopia users made Utopia sites which can be accessed at http://trade/ and at http://crystalforest https://preview.redd.it/1z5pbk8jrmc31.jpg?width=1024&format=pjpg&auto=webp&s=03d088e681d00b7c65610a0672ade07f593fb62b File Manager : All files which are sent or received in Utopia can be accessed from the builtin file manager which also includes an image viewer. As of now the file transfers are limited to 100MB. Voice Notes : Utopia also supports sending and receiving of Voice messages which you can send to those who are added with you. Dark Theme : The program comes in standard theme but how can they miss out a Dark Theme for the privacy savvy ? Users can opt for dark theme by going to Tools > Settings > Interface and selecting the ‘Dark Space‘ theme Utopia API : Utopia comes with a comprehensive API for users to incorporate in their own projects. For instance, using API you can accept payments denominated in Crypton at your website, automatically manage your channels, send instant messages and much more. To get started once you enable the API you can also access the API documentation. Network Fee Structure : Utopia provides us with an option to view all the network enforced fee and they are updated live on the network as the fee structure changes, thus one can stay updated with the current fee structure. You can access the Network Fee from uWallet > Treasury Data > Network Fee https://preview.redd.it/62ofvlrormc31.jpg?width=1024&format=pjpg&auto=webp&s=9ab0ecd8eda8f17290f1e10afd23c67ec828ecb5 Game : Utopia also supports in-app games which can be played in multiplayer, as of writing there is a working Chess game. You can find more about Utopia on Hackology Blog. Well, now I want to say personally my opinion after using Utopia. It is very difficult to judge a product at the beta test stage, but at the moment I can highlight both the pros and cons of both the program and the team that develops it. I want to notice that this is my subjective opinion and you can or may not share it. So, let's begin: Advantages:
In principle, everything is really anonymous, as far as can be judged really using this software.
Non-indexable channels (If you make it private and hide it from the search) at least we tested it inside the ecosystem. To find even by keywords is not real
Non-indexable pages that you create. If you do not have a direct link, find a site even in the global search is not possible
Easy mining of krypton. Even the weakest computers do not load, very comfortable
Convenient system of anonymity of user information (Without exchange of public keys, even the avatar will not work)
An easy-to-learn interface that arrived to us from 2004 (Old School will understand and appreciate)
In fact, it reminds the decentralized Internet and may well become such with the proper development
Inside the ecosystem there are no labels and notions of who is who, which simplifies the interaction within it
Intervention from outside is at least very difficult, tried methods known to us, failed
Indeed similar to a decentralized ecosystem.
The team quickly fix problems
Availability of detailed and collapsible instructions to all APIs within the ecosystem
There are many advantages and if I list everything, the post will be unrealistically large, therefore I have identified the main ones, and everyone after use must decide for himself what he liked.
And now about the shortcomings, they will be more likely related to common problems than specifically to the software or the command:
Many functions that will have to be mastered by yourself, almost 0 guides
The reaction of the team to the problems through the support leaves much to be desired
The presence of bugs (not critical and absolutely, just not pleasant, both visually and in use)
Not the right choice of PR company to promote software
The team is known for development but is not good friends with product promotion.
Localization, while only English (Well, this is a lesser problem)
Absence of the familiar function (for example, attached videos and the like)
All traffic from the site, even if you put it on the UPU goes through you, and in fact it denies anonymity. Why is this a disadvantage? Not only which VPS will agree that you would put Utopia, because the software scans the ports, which is forbidden without identification on most of the UPU. This is problem. If you put on the UPU, of course, the ends will not come to you, but if Utopia is on your car and the site is on the UPU, all site traffic will go through your public IP, which does not promise any anonymity.
While this is the most powerful problems of utopia, there may be more petty, but it is really not significant. And now let's talk about NetStalkers, and here they are, because in the title they are. The fact is that the 1984 Group bought advertising from this media team. I’ll say right away that I have nothing against the truly existing NetStalkers movement, now it concerns only the YouTube media community. So, having bought advertising from this wretched, deceitful and hypocritical community, Utopi had problems, because lovers of free-mining mining, children and inadequacies from all over the CIS and their usefulness were even zero, rushed into the software, moreover, all this garbage put a system on the blades because of spam, a huge amount of spam for which the 1984 Group was not ready. This is actually a terrible move. Our small team very much hopes that this team can still draw conclusions from this, since only we worked, we chose the most adequate and interested contingent for this software from the CIS and we hope that in the future we will continue to cooperate with them. If you like this post, I will continue to conduct similar topics and develop these areas, perhaps I will write guides on Utopia and will support this direction. At the moment, because of the bad PR campaigns from the media slag community, the CIS, they no longer approve traffic, however, it’s even embarrassing to say that it’s from the CIS because such a manifestation of our community leaves much to be desired and even shows us adequate people in extremely bad light . With you was MrHarr1son I was glad for you to try. If there are comments, or add something, write. I will be glad to discuss. Our telegrams channels: https://t.me/utopianews https://t.me/hiddenthems https://t.me/antinetstalkers (New channel created for fight with garbage media community) Link to beta portal https://beta.u.is/
10 Price Predictions for 10 Top Cryptocurrencies — Aug 2018
So, you’re sitting at your computer with money to invest. You have made some good money already in the market, but you want more. Cryptocurrencies reached a record **$800 billion in market value** then came crashing back down to earth and sit right around $200-$300 billion today. The price movement of top currencies remains a mystery. But it doesn’t have to be.
THE PAIN OF UNCERTAINTY
Cryptocurrencies are volatile, irrational beasts. Simple methods of forecasting grossly oveunderestimate the potential of a volatile currency. For example, moving averages are used frequently to estimate future prices. Moving averages, however, suffer from many pitfalls that make them poor estimators of volatile markets. Every great and successful investor has a plan. You will add one more tool to your arsenal today.
A BETTER METHOD FOR ESTIMATING CRYPTO PRICES
In my prior article about estimating the movement of Bitcoin Prices, I spoke of a method that is used frequently in the stock world to estimate prices. This method is a Monte Carlo simulation using the geometric Brownian motion model. I won’t cover off on the full methodology here, but essentially I am going to:
Get historical daily prices for 10 top cryptocurrencies
Calculate daily returns
Simulate a day, month, and year
Simulate a day, month, and year 1,000 times each
By the end of the article, you will have the following:
A 1-day, 1-month, and 1-year simulation of top cryptocurrencies
Likely price range of each cryptocurrency
A downloadable model to complete yourself
A note on forecasting, simulations, and recommendations: Monte Carlo simulations are to be used as guidelines and tools, not as gospel. I am not offering financial or investing advice.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Bitcoin Cash fell between $253, and $1,501 with a median of $624 over a 1-month time period.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum has been busy recently. Multiple steps have been pushed in motion for the upcoming large change — reaching a new consensus method. From Jordan Daniel at ethnews.com:
Ethereum’s Byzantium hard fork was only one half of a two-part process designed to transition the decentralized application platform to a new method for reaching consensus — proof-of-stake. The next hard fork, called Constantinople, was recently discussed during an Ethereum core developer meeting and could include Vitalik Buterin’s Casper update.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Ethereum fell between $200, and $827 with a median of $405 over a 1-month time period.
What is EOS?
EOS is a blockchain-based, decentralized operating system, designed to support commercial-scale decentralized applications by providing all of the necessary core functionality, enabling businesses to build blockchain applications in a way similar to web-based applications.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of EOS fell between $2.48, and $19.92 with a median of $6.78 over a 1-month time period.
What is Litecoin?
Litecoin’s claim to fame is faster transaction processing times. It uses a scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. The ability to target regular computers and GPU’s happens to be a huge differentiator from the crowded mining population of Bitcoin.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Litecoin fell between $34.45, and $131.88 with a median of $67.53 over a 1-month time period.
What is Ripple?
Ripple is a system created for banks to enable immediate payments and lower costs. The vision of the Ripple creators is to allow a bank transfer in a few seconds (instead of the horribly annoying 2–3 business days). Of note, is that Ripple is a U.S. based company. From the xrphodor blog:
Ripple is a US-based company. Why is this an important point to consider? A US-based company like Ripple is subject to some very stringent laws regarding securities trading and money transmission. These include requirements that define how Ripple might interact with crypto markets and both institutional and retail crypto traders.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Ripple fell between $0.13, and $1.05 with a median of $0.37 over a 1-month time period.
What is Stellar?
Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost. XLM is a completely decentralized consensus platform. It is designed to support any type of currency. It has a built in decentralized exchange that can be used to trade any type of currency or asset.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Stellar fell between $0.11, and $0.81 with a median of $0.29 over a 1-month time period.
What is IOTA?
IOTA is a public distributed ledger that stores transactions in a directed acyclic graph (DAG) structure, called a Tangle. The Tangle is used in place of the blockchain structure commonly used by other cryptocurrencies, such as Bitcoin. IOTA is a cryptocurrency designed specifically for the Internet of Things (IoT) that can be used for the secure sale and sharing of data streams.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of IOTA fell between $0.24, and $1.39 with a median of $0.58 over a 1-month time period.
What is QTUM?
Qtum is an open source Blockchain project that is developed by the Singapore-based Qtum Foundation. Qtum is a hybrid blockchain application platform. Qtum’s core technology combines a fork of bitcoin core, an Account Abstraction Layer allowing for multiple Virtual Machines including the Ethereum Virtual Machine (EVM) and Proof-of-Stake consensus aimed at tackling industry use cases.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of QTUM fell between $1.51, and $15.34 with a median of $4.89 over a 1-month time period.
What is NEO?
NEO (formerly known as AntShares) is a smart asset platform and the first open source public blockchain project in China. Smart assets are the combination of smart blockchain contracts and digital assets.
Dash (formerly known as Darkcoin and XCoin) is an open source peer-to-peer cryptocurrency. On top of Bitcoin’s feature set, it currently offers instant transactions (InstantSend), private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses to perform work that adds value to the network.
Dash’s decentralized governance and budgeting system makes it a decentralized autonomous organization (DAO).
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Dash fell between $15.23, and $3,125 with a median of $198 over a 1-month time period.
What is Monero?
Monero attempts to solve privacy and fungibility issues that persist in Bitcoin. Part of the algorithm for Monero automatically mixes transactions with previous transactions and does this by implementing ring signatures.
Here are the results of simulating Daily, Monthly, and Yearly coin prices 1,000 times each. Simulation Statistics
In 95% of model simulations, the price of Zcash fell between $49.34, and $419.23 with a median of $147.27 over a 1-month time period.
What is Cardano?
From Coincheckup: Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed.
Full disclosure: The Excel add-in has a free tier with a limited 100 requests, and a paid upgrade option past that. However, no one should be refused access on the basis of money (especially true for students and less fortunate). Send me a message, and I will make sure you are not left in the dark.
A NOTE ON SECURITY
Users have expressed hesitation about downloading an Excel workbook on their main computer, so I will attempt to ease those concerns:
I am located in the U.S., and my business is registered in the state of Maryland
If this were malicious, people would have downvoted the add-in into oblivion, and it would have been removed from the store
The Cryptosheets add-in is located on the official Microsoft Appsource store, which requires a rigorous 124 point validation process before it is accepted
If you are still worried, you can open it within a virtual machine and test it first, or run the file through an online virus checking service such as Virus Total
WHAT IT PULLS:
Up to 5 year history of ~10 different cryptocurrencies
Login to the service through Google, or sign-up option
Click the orange + button
Click Cryptocompare OHLCV
Choose your pair. By default, the document uses Bitcoin/US Dollar
Click the Days Selected dropdown and choose 5 years (Last 1825 days)
Click the Table Headers toggle
Click into A1 of the “Data” tab, click Highlight Range, and Place Data
Verify that data has updated
You also have the option to choose a timed refresh interval.
When I open the add-in, I get a white screen…why? Most likely this is due to an ad blocker (such as uBlock Origin or Bitdefender). On Windows, the add-in relies on Internet Explorer stability to function properly. Make sure nothing is blocking Internet Explorer. My add-in is stuck in a “Loading” loop…how do I fix it? See the tutorial here to fix: How to fix a loading loop
Whether you are investing in Bitcoin, Ethereum, or SpankCoin, it is imperative to have a plan. Most notably, a worst-case scenario. The Monte Carlo simulation is a fantastic way to get a range of prices for a cryptocurrency. And after reading this, you can see how the final values change drastically depending on what you are looking at. I urge you to download the sheet and try your own hand at simulating different coins. Cheers, and happy hunting Click this link to download the workbook
This post covers what happened in Decred last month. Let's get down to business and have About section at the end.
Wallet and node software version 1.2.0 has been released. Decrediton wallet highlights: improved startup experience, redesigned overview page, added basic graphs to visualize statistics and an export to CSV (helpful for tax reporting). dcrd node software highlights: significantly faster startup and compact filters to support light clients. See full release notes and downloads here, for Decrediton use 1.2.1 bugfix release. The release process has been improved. Instead of announcing a release date and trying to meet it, a Release Candidate 1 (RC1) will now be posted. After it has been tested an bugfixed with the help of the community, a second candidate (RC2) will be released. This is repeated until an RC version with no apparent bugs becomes the final release. The new process removes a ton of pressure from developers and users and gives more time for testing. As our primary consumer-facing product, Decrediton, is growing in features and complexity, more testing will be required for new releases. Politeia is "Getting close to a public beta of voting" (slack). Decred plugin merged, paywall and voting are in the testing stage. Ticket voting works on testnet via CLI. Trezor support got closer as Decred patch was merged. Please note this is only firmware support, to be usable it also needs wallet integration. WooCommerce Decred plugin alpha version is ready for testing. Decred.org received a new sleek exchanges page. The contributors page has been updated to add 10 new faces. Some of them are new to the project but others have been contributing for a while. Dev activity stats for April: 152 active PRs, 125 commits, 21,656 added and 10,288 deleted lines spread across 7 repositories done by 2-7 developers per repository. (chart)
Hashrate: April started at 2.0-2.7 PH/s range and seen a general increase with some big fluctuations between lows at 2.2 and new all time high above 5.2 PH/s. Nodes: there are 200 public listening and 500 normal nodes per dcred.eu as of May 1. 169 nodes already upgraded to version 1.2.0. Some 30 nodes were observed to be testing Release Candidate versions before the final release. Ticket price 30-day average has seen a steady rise to 87.5 DCR. Stake participation is solid 46.1% with 3.53 million DCR as of May 1.
Updates from Obelisk's Taek:
We got results back. They are more or less on line with the simulations I didn't realize this, but we don't get the real chips back for 3 more weeks. The ones we've been testing are hacked together into a DIP package (they are BGA chips) that really screws up the results There's a decent chance that the full bga chips perform better For the time being though, we're pretty much on track for the hashrates estimated on the website (slack, Apr 12)
And regarding the June delivery date:
We're still on track for batch 1. We've ordered most of the parts we'll need, including the chips. We've got working chips, we've got test boards, test units, test everything. We've signed manufacturers to produce everything. Obelisk is going strong. (reddit, Apr 23)
We are thankful for his updates in our #pow-mining channel and hope other ASIC manufacturers will also join. Fellow Sia miners are discussing the design of Obelisk SC1 case. Halong: B29 units are shipping. The amount of units in first batch was estimated 450-600 by our community member. Review of DragonMint B29 published, people are discussing shipping and running the miners. By surprise, Innosilicon announced the sale of D9 DecredMaster ASIC miner with specs identical to Halong B29 while being much cheaper ($6800 Inno vs $10499 Halong). Expected shipping date of the first batch is April 28-30. The company is active on their bitcointalk thread, also see our reddit. Just 9 days later Innosilicon announced second batch with delivery on May 7-11 and same price of $6800. (reddit)
Decred's Brazilian community made good progress with integrations this month.
emiliomann: On April 2nd @Rhama will launch the first BR exchange of altcoins with fiat market and totally within the laws of the Brazilian government. Decred will have the two markets DCBTC and DCBRL. It’s very difficult to fulfill all the legal requirements and get authorization to work with FIAT here.
The exchange turned out to be Profitfy. Profity is innovating by using dcrtime for their blockchain ID login via Original My. Great to see this deeper engagement with the tools that Decred provides, and not a surprise that it comes from @Rhama, who has been a community member since day one. This seems to have spurred another exchange, Braziliex, to bring forward their launch of DCBRL and DCBTC pairs, coming just 2 hours after Profitfy launched. Not stopping there,
viniciusfrias: We're excited to announce PagueCripto.com, a Brazilian crypto-to-fiat payment gateway which accepts Decred among other cryptocurrencies for Brazilians to pay daily bills, such as credit cards, energy, rent, etc, and also to make local bank transfers. Our service is both a web platform and an Android app, and as our community is relevant in Brazil, we are offering a discount coupon (50%) in service fees using DCR until May 14, 2018. Check it out at paguecripto.com and in Google Play Store. (slack)
Moving to other countries, good news from Canada:
michae2xl: Decred is now available on @ezBtcCanada, an exchange with DCCAD trading pair. From Toronto – ezbtc.ca
Eventually we hope to offer the pair in GBP and YEN as well
changenow.io, a non-custodian exchange for fast conversions, added DCR. You can see all exchanges known to support Decred in a spreadsheet maintained by snr01. Many of them are missing from coinmarketcap.
RAurelius: I think that a law firm accepting Decred is a worthy distinction from other previously publicized companies that accept Decred for typical consumer products. Legal services are severely lacking in the Crypto-sphere, so the publicity is good for everyone in this arena.
Great to see business owners reaching us directly in chat. VotoLegal is migrating from Ethereum to Decred blockchain:
emiliomann: VotoLegal, a Brazilian project that uses blockchain technology to allow election campaign funding to be transparent and that all transactions conducted are tracked and made available to the citizens, now uses dcrtime and Decred blockchain. https://twitter.com/decred_bstatus/986610826051276800 (slack)
YBF Ventures and Decred announced partnership in building a blockchain-focused development and business hub in Australia.
With the YBF Ventures partnership, Decred hopes to grow their Australian contractor network and scale their operations throughout the Asia-Pacific region. (btcmanager.com) We specifically chose Decred for a more robust corporate partnership, and it is the first time that a decentralised autonomous organisation is partnering with a ‘traditional’ organisation in such a capacity. (ybfventures.com)
Dustorf joined on the marketing front and is conducting a brand discovery analysis:
Decred is soliciting the input of our user community. In order to better understand you, what you think of Decred, and where you would like it to focus its efforts, we've come up with a short (4 minute) survey. Your input of all varieties is most appreciated https://www.surveymonkey.com/2LHK3FV
April targeted advertising report released (previous March report here). Reach @timhebel for full version. The iconic "Not Overly Scammy" t-shirt by cryptograffiti is available for purchase. For those wondering, the meme originates from @fluffypony. Some hilarious promos by @jackliv3r: onetwothree.
Community event at YBF Ventures in Australia. Meetup in Wroclaw, Poland. BBQ with @scalarcapital team in Austin, USA. Blockchain Expo in London, UK. Decred was well represented at this large-scale industry event. Project Lead Jake took part in several interview and the Decred stand manned by community members was flooded with inquisitive visitors. (video, photo 123) First Decred meetup in Hangzhou, China. (slack) Business of Blockchain at MIT Media Lab in Cambridge, USA. Presentation: Blockchain Sovereignty and Blockchain Integration for Businesses by Jake Yocom-Piatt. (event, reddit, photo 123) Cambridge Blockchain Meetup in Cambridge, USA. Talk: Cutting the Head off the Snake by Jake Yocom-Piatt. (event, photo 123) Upcoming events:
Madison Blockchain Meetup in Madison, USA on May 21
Second episode of Lightning Network educational series is out, exploring topics such as payment channels, onion routing, centralization risk, and challenges that still lie ahead. (youtube) A user’s perspective and introduction to blockchain governance (Richard Red) The Importance of Governance: Analyzing the Aftermath of the Monero Hard Fork by Noah Pierau (btcmanager.com) The Crypto Show w/ Marco from Decred (youtube) Interview with Jake at @Blockchain_Expo by Crypto Coin Growth (youtube) Interview with Jake at @Blockchain_Expo by Cryptocurrency Academy (youtube) Alternative Blockchain Governance Systems With Jake & Kyle From Decred at @Blockchain_Expo by Crypto Disrupt (youtube) Decred Looks Ahead: An Interview with Project Lead Jake Yocom-Piatt (Exclusive) (sludgefeed.com) How Complex Bitcoin Politics Led to the Creation of Decred (btcmanager.com) Interview with Decred’s Project Lead Jake Yocom-Piatt on Crypto Ad Bans and Market Volatility (cryptoslate.com) Decred’s Jonathan Zeppettini: The Industry Is Going To Be Displacing Wall Street (blocktribune.com) On Chain VS. Off Chain Governance: The Ins And Outs (coinjournal.net) Decred: On true decentralisation, Bitcoin communities, and avoiding the ICO route [Video] (blockchaintechnology-news.com) Marco in shitcoin talk episode 54 (youtube)
Reddit highlights: A debate on Decred protocol security and attack cost, a comparison of expected and actual block production times, a write-up on distribution of powers and how Monero could benefit from a PoS governance layer, twoother threads on ASIC resistance, and one discussing different types of decentralization. Very thoughtful discussion on whether it is appropriate to use half naked photos in marketing, followed by meta-discussion how to handle very polarizing issues and unwanted contributions to the marketing efforts of a decentralized project. (slack, continued) A new #governance channel was created to discuss governance in Decred and other projects. politeia subreddit was recovered for Decred community. Thanks to Tivra for filing the request. Politeia can bring a lot of value outside Decred so it well deserves its own sub. A new Slack invite page has been setup and onboarded 40 people in 48 hours. Decred StackExchange site proposal was closed due to inactivity in a 7 day period, according to Area 51 rules.
In April Decred showed a confident recovery after previous months. DCUSD moved from below $40 to nearly $90 and the more liquid DCBTC from 0.0058 to 0.0093. OOOBTC showed unexpectedly huge DCR trading volume of $19 m on April 10 (reddit), it went back to normal 2 weeks later. On April 25 a wild rush took the price from 0.00777 to 0.0177 BTC in under 30 minutes on Poloniex, setting a new USD all time high of ~$165 ($141 world average). Prices on other exchanges followed to a lesser degree. Possible causes were discussed on reddit. Talking about all time highs, an indicator tracking difference between ATH and current price shows Decred is competitive at retaining USD value.
Bittrex finally opened registrations again. ASIC debates are raging after Bitmain stealth-launched ASICs for Sia, Monero and Ethereum. Most opinions reflect on whether and how to resist ASICs, but some are recognizing the Decred way, like this excellent piece. The importance of governance is gaining recognition as well. One notable example is Mike Hearn's AMA where it was a hot topic.
About This Issue
This project was motivated by the desire to expose just how much is happening in Decred and save the time for people unable to actively follow our channels. It aims to cover all relevant developments with a short description and links to read further. It shows the depth of the project and the involvement of the community. We also plan to launch a newsletter and consider a shorter version if there is such a demand. This is the first issue and feedback is welcome to discover what is best for our readers. Please join our Slack and write us on #writers_room or comment directly on GitHub. Any help is welcome too. Credits (Slack names, alphabetical order): bee, jazzah, Richard-Red, snr01 and vj.
General info and list of exchanges for FantasyGold
Sports Betting and Esports Cryptocurrency FGC SPECS WHY FGC? MASTERNODES BUY FGC WALLETS OUR TEAM NEWS EXPLORER WHITE PAPER AFFILIATE PROGRAM CONTACT BITCOIN MEETS FANTASY SPORTS & ESPORTS FANTASY GOLD Fantasy Gold is the official crypto currency for the $7 Billion Fantasy Sports industry with decentralized Masternodes to power InstantSend and PrivateSend functions. FANTASY GOLD SPECS PEER TO PEER CRYPTO FANTASY SPORTS THE PROBLEM Daily Fantasy Sports sites earn a 10% commission for each contest, however credit card processing is as high as 5%…cutting profits in half. Player Deposits can be frozen or worse stolen. Combined with the risk of Fraudulent Deposits & Charge Backs, a more secure and cost effective solution is needed. THE SOLUTION To solve these & other problems we have created Fantasy Gold. Our coin is more secure for both the end user & fantasy sports sites. Transaction costs are drastically lowered. With our Blockchain & open ledger, players can be confident their deposited funds are safe & are used only to payout prize pools. Ticker FGC Algorithm NIST5 Type POW / POS Max Coin Supply 21,000,000 Target Spacing 90 Seconds Block Reward 47 FGC What is Fantasy Gold? Fantasy Gold is a peer to peer crypto currency and blockchain serving the $7Billion fantasy sports industry in both the B2B and B2C spaces as well as the $1.5 billion competitive eSports industry. Fantasy Gold acts as in-game currency used to enter contests and pay prizes as well as a payment processing network. Fantasy Gold Coin is more secure for both the end user and fantasy sports sites. Transaction costs are fractions of a penny and our blockchain and open ledger players can be confidant their deposited funds are safe and used only to pay out prize pools. Unlike using traditional centralized payment processing the Fantasy Gold project does not charge any addition transaction or service fees to use the payment network. Senders pay a small transaction fee that is awarded to miners who process the transactions and Masternodes who verify the transactions. Anyone with access to standard desktop graphics cards can act as a miner and anyone who holds 10,000 Fantasy Gold coins can run a Masternode on a basic VPS server or even a Raspberry Pi. Fantasy Sports Fantasy Gold will host daily fantasy sports contests on its own branded site DraftDaily.com using the Company’s proprietary Daily Fantasy Sports (“DFS”) platform. DraftDaily.com allows users compete against one another to win prizes awarded in Fantasy Gold Coin (FGC). The site currently offers daily and weekly fantasy sports contests for the following sports leagues: NFL, MLB, NBA and NHL. We anticipate lunching Fantasy Cricket in May 2018 followed by Fantasy Soccer. Esports eSports tournaments and 1v1 contests will be hosted on the Company’s proprietary eSports platform, FGCArena.com. Fantasy Gold will hold monthly live tournament events starting in May 2018 in Las Vegas with a minimum of 300,000 expected viewers per event. Fantasy Gold Coin will be the in game currency used for tournament entries and prize pools. Live events may also include additional cash prizes provided by sponsors and from crowd sourcing. FantasyGold has partnered with Millennial eSports to organize the events to be held at their eSports Arena in Las Vegas. FantasyGold Masternodes Masternodes help secure the Fantasy Gold network by making it more decentralized, providing a consensus for every transaction. Masternodes are nodes (servers) that run the Fantasy Gold wallet software that provide additional services to the network including instant and private transactions. However the one of the more important features are decentralized community governance and budgeting systems and the ability to publish immutable proposals to the community with the means to vote on proposals. For providing these important services, Masternode owners are rewarded a portion of each block. Block Rewards will be split between POS and Masternodes as follows: 20% POS / 80% Masternodes The block reward is 90% to Masternodes and 10% to Miners. After block 43200 the reward is split 80% to Masternodes and 20% to staking. Buy FGC & Download a Wallet “Now is the time to buy Fantasy Gold” Fantasy Gold acts as in-game currency used to enter contests and pay prizes as well as a payment processing network. — FANTASY GOLD TEAM Windows Wallet Mac Wallet Linux Wallet FANTASY GOLD DEVELOPMENT TEAM Meet Our Awesome Team Members! Nicolas Hernandez FGC COIN LEAD & DEVELOPER Jason DraftDaily SR. VICE PRES. BUSINESS OP. Alok Kumar Saxena CTO & LEAD WEBSITE DEVELOPER Mark Petrozzella DIRECTOR OF BUSINESS DEVELOPMENT Steven Spooner COMMUNICATIONS DIRECTOR Craig Williams COMMUNITY DIRECTOR Tim Baker FGC Coin Developer Spencer W. GRAPHICS & DESIGN Prince Dwivedi APPLICATION DEVELOPER Kevin Browne EU BUSINESS DEVELOPMENT Colton ESPORTS DIRECTOR LATEST NEWS VIA TWITTER CONTACT US Your name Your email Subject Your message OUR PARTNERS FOLLOW US EXCHANGE LIST Kucoin Binance Bit-Z Bibox Linkcoin Qryptos Bitrue
ABSTRACT The experience of buying and selling cryptocurrencies is as much of a barrier to the expansion of cryptocurrency trading as the relative novelty of the entire concept. While it is no doubt a more recognised and even well regarded market activity, with organisations such as the Chicago Board Options Exchange (CBOE) recently offering the world’s first official cryptocurrency futures contract, and several exchanges opening almost every other week, it is still very much a niche market position to engage in substantial buying and selling of cryptocurrencies. When compared with the market volumes for trading fiat or other stores of value like precious metals, the total cryptocurrency market capitalization of $471,511,748,724 is little more than pocket change. To put it in perspective, the total market capitalization of Bitcoin, which is by far the world’s most popular cryptocurrency is $166 billion, less than the $171 billion market cap of MasterCard, which is not even a fiat issuer. Clearly, despite the leaps and bounds that have been recorded in the growing success story of trading cryptocurrency on the open market, a substantial amount of work still remains to be done. Many reasons exist for the persistence of a gap in market adoption and participation, but perhaps one of the most ubiquitous and detrimental is the sheer difficulty of actually participating in the cryptocurrency market trading space. Due to a lack of regulation stemming from the decentralized nature of tokens, the market is crammed with a vast number of competing platforms and exchanges, all claiming to do certain things which many of them glaringly fail at. For example, the sheer amount of operational friction involved in carrying out a simple purchase transaction is enough to put off many first-time investors and market participants, especially those who do not understand the cryptocurrency ecosystem in detail and those who are used to the structure and order in a regular stock market. The speed of transactions on many platforms has often gained notoriety for creating severely dissatisfied users who had to wait for hours, days or even weeks for a single transaction to trundle its way through. In the midst of these delays, the dynamic market keeps changing. sometimes literally minute-by-minute, which severely compromises the investment position of the user and makes them unlikely to return as market participants again. Some users have even found out to their great personal cost, that while cryptocurrency tokens themselves cannot be hacked or duplicated, they can be stolen from digital wallets that do not have adequate security. So when executing cryptocurrency trades, it has been known to happen that the trading platforms or exchanges used suffered a severe security breach, sometimes with hundreds of millions of dollars’ worth of user cryptocurrency being stolen. Amidst the unique crypto trading environment of unmatched optimism mixed with real risks and horror stories, the challenge is to create a solution that offers all users quick, easy and secure access into the cryptocurrency marketplace with zero fuss and very low risk. This solution would need to cater to both veteran participants in the ecosystem and new entrants into the market, giving both an equal chance to compete. The security on this platform would substantially preclude the possibility of a devastating failure that would compromise user assets and disrupt the user experience. Taking all these problems, challenges and needs into consideration, SLT has been developed as a trading platform offering users the power to buy and sell digital tokens to each other. Making full ue of the security and data processing advantages offered by the Blockchain, SLT proposes to revolutionize the experience of market participation in cryptocurrency trading by making it easily accessible to all types, classes and grades of users, safe and free of potential security failure points, and with a wide scope of application and uses within the ecosystem. The team behind SLT has several years of online work experience, and what unites all of them is a shared experience of the same operational problems present in terms of investing in the cryptocurrency market. SLT is the result of years of thought and research into how to adequately solve the problems once and for all and even create extra value for market participants into the bargain. INTRODUCTION Before going further in the paper, there are a few terms and concepts that need to be properly defined before the reader can fully appreciate the ideas and solutions that will be proposed later on. The first of these terms is blockchain. A blockchain, according to the standard definition is a network that is decentralized and distributed across all its nodes so that the network cannot be compromised by any single node. In plain English, what that means is that a chain of little bits of data called ‘blocks’ being created, updated and stored across several different locations in real-time is called a ‘blockchain’. The major difference between blockchain networks and regular centralized networks is that unlike the latter, blockchains do not have a “server” or a “headquarters” where isolated information exists in a silo. Blockchains rather use the entire network of nodes as their storage and processing capacity, and each node has a copy of the blockchain which is constantly in communication with the others, verifying transactions and comparing information to make sure the data across all of them is exactly the same. If any single node has data that does not match with that on the rest of the blockchain network, it is immediately isolated as a compromised node and the network automatically excludes it and keeps on functioning. What this means to the uninitiated is that blockchains are very secure, possessing no single location that can be hacked or compromised in any way, and not permitting any variation in data across network nodes. Data stored on a blockchain is thus practically immutable and unchangeable, which make it ideal for recording sensitive data like transaction records and medical records. The second term to be examined is fiat currency. A fiat currency is basically the money most people are used to, which is in either cash or electronic form. The distinguishing features of every fiat currency are that they always have a central issuer – usually a government or a central banking institution – and their use and relative value is constantly managed by these issuers. Unlike blockchain-based solutions, they are all built on centralized rather than distributed infrastructure, which makes them a constant target for hackers and fraudsters. They also contain identifying information unlike digital tokens. A third term that needs to be explored is cryptocurrency. A cryptocurrency is a representation of a digital asset, and it is also sometimes referred to as a token or a coin. Cryptocurrencies contain no information that can be used to personally identify their users, and as such they have gained popularity around the world for a variety of reasons as ‘anonymous currency’. In places like Zimbabwe, Venezuela and Greece for example, in response to crippling capital controls imposed by the government which severely limited the amount of money allowed to be taken out of the country, a huge number of people turned to Bitcoin and other cryptocurrencies as an undetectable means of transferring their wealth abroad. A vast number of cryptocurrencies exist currently, ranging from the ubiquitous Bitcoin (BTC) and Ethereum (ETH) to a basket of currencies including Ripple (XRP), Litecoin (LTC), Dash (DASH), Monero (XMR), Lisk (LSK), TRON (TRX), ICON (ICX), Stratis (STRAT), Zcash (ZEC), Nano (XRB), Steem (STEEM), Bytecoin (BCN), and Populous (PPT), amongst others. For the purposes of this paper, the cryptocurrency that will be focused on is SLT, which is the native currency of the SLT platform. Another concept that needs to be defined is the smart contract. A smart contract is a method of exchanging value between two or more parties using the blockchain as a tool for validation and escrow. Using a smart contract, a seller and a buyer involved in a peer-to-peer transaction do not need to have a middleman interceding between them to ensure that the right exchange is made at the right time. Rather, a set of conditions, instructions and parameters is coded into the blockchain, and the buyer deposits their cryptocurrency into a safe wallet under the care of the smart contract protocol. Once the buyer confirms that they have received the requested value from the seller and it is acceptable to them, the smart contract automatically releases the payment to the seller. Doing business by smart contract is an idea that started off as a novelty and is rapidly taking off, as it removes the burden of validation from both parties involved in a transaction and saves them the cost of a human middleman or bank charges involved in actual escrow transactions. Most smart contracts nowadays are built on the Ethereum blockchain, which is especially optimised to aid peer-to-peer transactions. The final term that will be defined is cryptocurrency exchange. Also often referred to as “exchanges”, these are institutions that enable users to exchange cryptocurrencies for other cryptocurrencies and fiat currencies. In effect, they serve as intermediaries between cryptocurrency buyers and sellers, connecting demand with supply and enabling buyers to make their desired purchases using cryptos or fiats of their choice, according to which ones are supported by the individual exchange. In the world of buying and selling cryptocurrencies, exchanges are the engines of the industry, in a similar way to how banks are the drivers of offline economies. The level of speed and security offered by a cryptocurrency exchange is often the difference between a profitable transaction and an unqualified loss. In a market as dynamic as cryptocurrency trading, delays of even a few minutes can have dramatic results, as big hitters like Bitcoin have been known to lose as much as 50% of their value in just a few hours. In order for cryptocurrency trading to be able to go truly mainstream, it is imperative that an exchange solution will be created that enables users and investors to move seamlessly through the market and execute transactions instantaneously, as is obtainable in fiat currency markets. PROBLEM STATEMENT Presently, cryptocurrency trading is not suffering from a lack of interest, but there is a considerable infrastructural barrier to entry into the market. The available platforms generally cannot deal with the sheer volume of transactions and the required speed of processing transactions, causing many existing and potential investors to become frustrated and lose interest in the market. The three major problems facing the cryptocurrency buying and selling space can be itemized and broken down as follows: - Lack of speed: In the space of a few minutes, it is not unheard of for cryptocurrencies to gain as much as 30% on the market. As with any other type of dynamic market trading activity, the ability to predict and react to quick-fire changes is key to the profitability of the trading operation. When market participants are not able to get their purchase and selling orders processed in a manner that matches the dynamism of the marketplace they operate in, this usually results in losses and a resultant loss of appetite for involvement in that market space. - Security breaches: Trading platforms and cryptocurrency exchanges have been the targets of sustained and regular attacks from hackers, fraudsters and a number of other undesirable elements. In a few high profile cases, they have actually been successful, eventually making away with hundreds of millions of dollars’ worth of client cryptocurrency funds and leaving both platform and customer financially wrecked. A few customers who have managed to get past the buying and selling process with no incident have had the misfortune of using exchanges without adequate cybersecurity measures in place, and this has led to their cryptocurrency wallets being hacked, and millions of dollars’ worth of anonymous, untraceable coins being stolen. These stories also receive a substantial amount of media airplay, which feeds into an existing narrative of cryptocurrency being some sort of scam, and this further alienates potential investors and participants. - Transaction fees: Several platforms have delivered unpleasant surprises to their users in the form of excessive transaction fees. Perhaps as a result of the lack of volume resulting from their poor trading infrastructure and bad liquidity position, a number of cryptocurrency trading platforms try to make up for the revenue lost to poor transaction volumes by charging high transaction fees. In essence, the idea is that instead of fixing the problems leading to slow transactions and the resultant low transaction volumes, users would simply be charged more to make up for the revenue shortfall. This means that investors lose both ways, both to the low speed transaction execution and poor security offered by most existing cryptocurrency trading platforms, and high transaction fees for the few trades that do manage to go through. SLT FRAMEWORK Using these problems as an existential barometer, SLT has created a trading platform that is focused on the needs of its users before anyone else. The platform focuses on revolutionizing transaction speeds and achieving instantaneous execution by making use of blockchain processing instead of centralized processing. This solution will also exponentially improve upon the existing security profiles of competing platforms because it is practically impossible to hack a blockchain. Use of the SLT token will also eventually reduce transaction fee and speed up transactions using blockchain technology. Platform Goals The overall aim of SLT is to create a fast, simple, safe and clearly defined platform that everyone can understand without hidden intentions and costs. The platform also aims to emulate the very operational logic of the blockchain in its operations by catering to a decentralized market. Instead of appealing to only a fraction of the available global market, SLT will allow anyone to have access to the platform, and it ensure that equal chances are given to all members to earn. The final aim of SLT is to be able to deliver on the promise of instant payments and withdrawals using blockchain technology. Future Expansion Plans The launch of the SLT token is a part of a strategy that will be instituted to reduce transaction fees for users and eventually to speed up transactions. A key part of this strategy is the opening of the SLT cryptocurrency exchange. Combining these two solutions, it is the hope that users who currently face problems with opening different wallets and with withdrawing money they earn can find a quick and easy resolution to these issues. The platform will have a wallet exchanger and a digital asset exchanger in one place for the first time, giving users as much flexibility as they need to access and convert their money rapidly so as to be able to keep up with the dynamics and vagaries of the cryptocurrency trading market. Eventually, it is expected that users will even have the opportunity to make payments and withdraw money using the SLT Card, which will be integrated with major existing fiat providers to give maximum flexibility across crypto and fiat channels to SLT platform users. Pre ICO – 1 million 1st Round - 1 million 2nd Round - 3 million Price in Pre ICO= 0.10$ Price in 1.round =0.30$ Price in 2.round =0.50$ Action Plan Adding SLT on other exchanges Digital asset Exchanger ( multi-cryptocurrency exchange) Listing on CoinMarketCap Wallet exchanger Debit Card and adding other cards that will allow buying and withdrawals Mobile app available for iOS and Android Referral bonuses in ICO period: 5% 5% Bonus from each purchase made from your referral Roadmap December 2017 Completion of platform conceptualization and ideation processes, followed by the commencement of preliminary development, design and integration work. March 2018 Pre-ICO begins: At this stage, investors will be able to buy SLT tokens at a special price of $0.10, which gives them a first-mover advantage over later investors during the ICO. ICO commences: The ICO will hold in two stages, giving investors the opportunity to purchase SLT tokens at $0.30 and $0.50 respectively, following a price-rise caused by the pre-ICO demand. March 2018 ICO ends: Investors will no longer be able to purchase SLT tokens directly from the ICO platform, but the tokens may be available from third party platforms like cryptocurrency exchanges. 2018 (all-year) Development and integration of Digital asset Exchanger ( multi-cryptocurrency exchange) and Wallet exchanger, develop breakthrough blockchain technologies Launch of mobile app for iOS and Android 2019 The full SLT platform will be launched offering the complete range of proposed functionalities after a year of development and integration. Later that year, the SLT card will also be launched, giving users extra flexibility across various fiat and cryptocurrency exchange mediums. CONCLUSION SLT is the long-awaited platform that will permanently change how casual users and seasoned investment veterans interact with the cryptocurrency trading market. The important ways in which SLT will revolutionize the cryptocurrency trading space are as follows: The platform will severely cut down on time lost due to transaction delays and slow execution Making use of the multifunctionality of a wallet exchanger and a digital asset exchanger in the same place, the SLT platform will exponentially increase the speed with which users may access their funds and convert them into the desired format of their choice SLT will make use of blockchain technology to substantially increase the speed of transaction processing. Currently, many competing platforms make use of silo processing, which is heavily limited by available physical infrastructure. SLT embraces the blockchain at an elemental level, applying the principle of group processing to free up what has hitherto been an operational bottleneck. The use of blockchain technology as the basis of the platform will increase its security profile and make it an exceptionally difficult target for hackers, thieves and fraudsters. The SLT token will provide an quick and easy platform for cryptocurrency trading for users who do not want to deal with the delays involved in opening and accessing different wallets. Users of SLT tokens will experience substantially reduced transaction fees in addition to enhanced transaction speed Eventually, the launch of the SLT Card will take the concept beyond the point that the entire industry is at right now. This card will be used both as a means of paying in and withdrawing money from the platform, and its activation with a major real-world fiat provider will give users a totally unprecedented level of inter-connectedness between cryptocurrency coins and fiat. DISCLAIMERS The SLT service and the SLT platform are provided strictly on an “as available” and "as is" basis. No assurances or representations of any type, direct or otherwise, are made regarding the operation of the service or the content, information, materials, or products displayed on the website. No express or implied representations or warranties regarding the SLT service and website, or the products or services provided therein are made. Therefore, any implied warranties of SLT merchantability, fitness for a particular purpose, and non-infringement are expressly disclaimed and excluded. In addition, we make no representation that the operation of our service will be uninterrupted or error free, and we will not be liable for the consequences of any interruptions or errors be they direct, secondary, related, penal, or consequential. SLT, its officers, representatives, employees, managers, and salespersons, shall not in any way hold any liability for any loss/damages (direct or indirect) rising out of or in connection with your use of or your inability to use the SLT service and website, even if we have been duly advised of the possibility of such damages. SLT is not an investment. There is no guarantee that the SLT you purchase will increase in value and/or provide any return. SLT does not confer exclusive ownership or arbitrary right to control. Possession of SLT tokens does not grant the holder exclusive ownership or sole equity in the SLT platform as a whole. No one individual has exclusive rights or power over the SLT platform. The purchaser’s SLT can only be accessed with login credentials selected by the purchaser. The loss of these credentials will result in the loss of SLT. To prevent such a situation, it is strongly recommended that the holder should safely store credentials in one or more backup locations that are geographically separated from the working location, and are accessible in the event of an emergency. As they grow in popularity and application, Blockchain technologies have also become subject to regulatory attention and action by government and financial industry organisations around the world. The functioning of the SLT platform and SLT tokens could thus be impacted by any regulatory inquiries or actions, including but not limited to restrictions on the use or possession of digital tokens like SLT, which could impede or limit the development of the SLT platform. Following the token sale and the development of the initial version of the SLT platform, it is possible that blockchain-based platforms could be established, which operate using same open source code and open source protocol underlying the SLT platform. The SLT platform may have to compete with these alternative platforms, which could potentially negatively impact the performance of the SLT platform and SLT. It is possible that the SLT platform will not be used by large numbers of individuals, and that there will be limited public interest in the creation and development of distributed applications. Such a lack of interest could impact the development of the SLT platform and therefore the potential uses or value of SLT. The SLT platform is presently under development and may undergo significant changes before its full release. Any expectations regarding the form and functionality of SLT or the SLT platform held by the purchaser may not be met upon release, for any number of reasons including a change in the design and implementation plans and execution of the SLT platform. Hackers or other groups or organizations may attempt to interfere with the SLT platform or the availability of SLT in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. The SLT platform consists of software that is based on open-source software. There is a risk that the SLT team, or other third parties may intentionally or unintentionally introduce weaknesses or bugs into the core infrastructural elements of the SLT platform, interfering with the use of or causing the loss of SLT and/or SLT. Advances in cryptography, or technical advances such as the development of quantum computers, could present risks to crypto currencies and the SLT platform, which could result in the theft or loss of SLT and/or SLT. While SLT should not be viewed as an investment, it may return value over time. That value may be limited if the SLT platform lacks use and adoption. If this becomes the case, there may be few or no profits to draw from, or even a loss of your initial investment. It is possible that the SLT platform malfunctions in an unfavorable way, including but not limited to one that results in the loss of information or data. Crypto-currency is a relatively new and untested technology. In addition to the risks set forth here, there are risks that the SLT team cannot anticipate. Risks may further materialize as unanticipated combinations or variations of the risks set forth here.
Bitcoin transaction that is confirmed means the transaction that is broadcasted to the network is verified and included in a block. Each Bitcoin confirmations represents the total number of blocks that are generated since the block that has your transaction details. For better understanding let’s see how Bitcoin block confirmations work. Transaction fees are usually set by the user creating the block of transaction data to be mined. These rates and their dependent wait times vary as traffic ebbs and flows. For instance, you could pay 200 satoshis per byte (which is 0.000002 BTC or 0.01 USD per byte) for your gift to Dave to be placed in the bitcoin queue of the next 1-3 blocks. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. The most popular and trusted block explorer and crypto transaction search engine. The Bitcoin block chain [global and immutable transparent ledger] displays transactions instantly in near-real-time and settles transactions in just minutes. The Bitcoin Network handels everything for you. Just SEND. Just RECEIVE. Like magic! Sending bitcoin is a 'push transaction', unlike credit cards, which are 'pull-transactions' and require loads of sensitive and personal information which ...
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