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Myriad - A coin for everyone.

Myriad (XMY) is a Multi-PoW consensus protocol secured by 5 mining algorithms. Each one suits different hardware.
[link]

Your guide to NYZO

NYZO is the highly efficient Proof-of-Diversity (PoD) blockchain for everyday spending.
NYZO has been developed from the ground up, it is an open-source initiative and isn't a copy of any existing blockchain project.
The network has been running for more then one year now and the source code can be found on GitHub. The NYZO codebase is going to start acting as an API server. This will be run-mode dependent, just like the various web server functions that are available now. It will interact with the mesh on one side and whatever it needs to interact with on the other side.
Developers update NYZO all the time with fixes and performance and stability improvements. Every update which has been created for the network so far has been accompanied by a release note, a detailed document detailing every change to the network to make it better.
We can find these release notes on the website of the developers: What's new? - as you can see, the network has been worked on on a regular basis and each release note is multiple pages long - developers are dedicated to making this a success and this is their testament.
Whitepaper 
Proof-of-Diversity (PoD) consensus mechanism requires active participation in the form of time and verifier behaviour in the blockchain to be allowed to exert a certain influence on the system as a whole. The Proof-of-Diversity blockchain uses verification cycles to establish the authoritative form of the blockchain. The basic concept of proof-of-diversity is simple. Verifiers take turns producing blocks in a circular order. Some simple rules ensure that verifiers are neither added to nor removed from that circular order too quickly. In order to produce a believable forgery of the blockchain for any meaningful amount of time, an attacker would need to obtain more than half of the private keys of verifiers currently working on the blockchain. The design and technology are simple and clearly explained in NYZO whitepaper. This document was created in the very beginning and it might not cover all aspects as it should, the release notes make up for this.
Still too lazy and didn't read NYZO whitepaper? Relax, and listen to the soothing audio version.
Verifier 
Mesh (cycle) participants are called verifiers. Verifiers are in charge of verifying transactions and producing blocks. In exchange for securing the network, verifiers collect transaction fees which are distributed fairly among all of them. Each verifier gets a chance to verify one block in one mesh cycle. NYZO don't need mining equipment and large amounts of processing power like others, only unique IP address and always on Linux VPS is required.
Sentinel 
The purpose of the NYZO Sentinel is to provide improve stability of the cycle by producing blocks for in-cycle verifiers that are unable to produce blocks due to temporary hardware and network issues. The Sentinel should not be run on an instance that is running the verifier. The NYZO sentinel is a seperate version of the nyzoVerifier designed to protect your in-cycle verifiers. Its job is to constantly check up on your verifiers. If one of them is unresponsive, the sentinel will initiate communication on behalf of the verifier, this all to ensure future cycle inclusion.
The Mesh (cycle) 
is simply a network of computers known as verifiers all running NYZO and communicating information to each other. The Mesh (cycle) is a central point of PoD system. For securing the Mesh these computers are given 10% reward of transaction fees for each block they secure.
Check your NYZO verifier status, search for your nickname or IP
Newcomers can sometimes get confused with how Nyzo verifier lifecycle works in practice or how to join the cycle.
Block files 
One part of the consensus algorithm is the block consolidation process which ensures that a small machine such as a Rock64 Pro or a beefy Raspberry Pi can run a NYZO verifier with little storage space. 1000 blocks are consolidated into 500 Kb of storage space. Very efficient.
51% attack resistance and energy efficiency 
NYZO has a properly designed economic model that relies on time. Therefore, the cost for 51% attacks (relative to market cap) is huge, there is ongoing incentive to participate in the network, and attacks based on computing power (PoW) or ownership of token (PoS) aren't feasible. NYZO uses only a tiny fraction of Bitcoin’s resources while performing the same tasks. 58 000 000 000 kwH - 58 TWh : current BTC power cons. per year vs 36500 kwH - 0.0000365 TWh : current NYZO power cons. per year = 1,589,041 times more efficient and 51% attack resistant.
Roadmap 
NYZO developers have been asked many times for a roadmap. The roadmap is to keep making the code more stable, more robust, and more efficient.
Nyzo development: 15 months of hard work (and beyond)
Scalability 
NYZO doesn’t require any Layer 2 scaling solutions and is able to handle high transaction volumes per second which is only dependent on the performance of the verifiers in the mesh. The block time is 7 seconds and block size is 28 Kb.
Micropay is a lightweight way of using NYZO that shifts as much burden as possible to the person receiving the payment to make it as easy as possible for someone to send small payments. Next step is an API server for Micropay.
Useful guides and articles 
2k verifiers/nodes are in the cycle and 24k verifiers are patiently waiting to join the mesh/cycle. Following video tutorials will explain in detail how to set up your own NYZO mesh verifier node. For more information about set up visit Nyzo DISCORD.
VIDEO TUTORIAL - How to setup a NYZO verifier and sentinel on a VPS - video tutorial from Refortuna Analytics
VIDEO TUTORIAL - How to set up a Nyzo Verifier on Hetzner - from community website Nyzo.io
Nyzo review and guide how to set up verifier - very detailed review and guide by MyAltcoins.info
Nyzo - Time and diversity as a currency (+ 4 translations here) This article goes into detail about the consensus algorithm and its benefits, it sketches a hypothetical attack scenario and the cost of an attack at this point in time (while the market cap is still low).
Arguments against early entrants This article goes into detail about the early stages of the project, what has happened, how certain events have unfolded and the diversity of the project, it creates a parallel between Bitcoin and NYZO to cover an important aspect of the network in detail.
Time An article going deeper into the time aspect of the network, written by a community member
Ethereum An article comparing NYZO’s consensus algorithm to the development state of Ethereum, written by the same user as the article above.
Bitcoin Yet again an article comparing NYZO, this time with Bitcoin.
Proof of Diversity - A novel solution for limitless blockchain scalability | Micky.com.au
Thoughts on Tor and Nyzo
Developer fund 
The initial developer fund plan can be found here, this has been followed up and the details have changed. The developers effectively own 0.6% of the total supply. So far around 11 million has been “mined” and the remainder is spendable by the network through governed voting, with a minimum amount of votes required for NYZO to be released (51% of the network needs to agree).
IMPORTANT LINKS: 
Official website
Nyzo mobile wallet for Android phones on Google Play - Multilingual support (EN, DE, CN, ES, FR, RU, NL, HR) - developed by ThreeDots Technologies
Nyzo key tool and Web wallet
Nyzo Space - Paper wallet - developed by Angainor Dev
Nyzo DISCORD - There are currently 1600 active members and developers in the discord group with multiple joining every day. Most of the community communicates here. Here is where you’re guaranteed to have a one-on-one with the developers.
GitHub
New Community Forum website (You can get here lots of useful information. If you are ready to build for Nyzo and get paid, please read this article... Nyzo and its protocol which facilitates building)
Chinese Community website NYZO社区
Nyzo Twitter
Nyzo Gang Twitter
Facebook
Telegram
Instagram
Tumblr
Reddit
Bitcointalk
Weibo
QQ: 1007477423
Zedge
NYZO wallpapers for desktop and mobile devices
Trading: 
qTrade
BILAXY
Hotbit
QBTC
Citex
BiHodl


https://preview.redd.it/brh7hm2n6m241.png?width=2560&format=png&auto=webp&s=8d8b45235fcc34200bcad5603249ae49a89c2612
submitted by Mobilenewsflash to CryptoMoonShots [link] [comments]

What is NYZO?

What is NYZO?
NYZO is a highly efficient Proof-of-Diversity (PoD) blockchain for everyday spending.
NYZO has been developed from the ground up, it is an open-source initiative and isn't a copy of any existing blockchain project.
The network has been running for more than one year now and the source code can be found on GitHub. The NYZO codebase is going to start acting as an API server. This will be run-mode dependent, just like the various web server functions that are available now. It will interact with the mesh on one side and whatever it needs to interact with on the other side.
Developers update NYZO all the time with fixes and performance and stability improvements. Every update which has been created for the network so far has been accompanied by a release note, a detailed document detailing every change to the network to make it better.
We can find these release notes on the website of the developers: What's new? - as you can see, the network has been worked on a regular basis and each release note is multiple pages long - developers are dedicated to making this a success and this is their testament.
Whitepaper 
Proof-of-Diversity (PoD) consensus mechanism requires active participation in the form of time and verifier behavior in the blockchain to be allowed to exert a certain influence on the system as a whole. The Proof-of-Diversity blockchain uses verification cycles to establish the authoritative form of the blockchain. The basic concept of proof-of-diversity is simple. Verifiers take turns producing blocks in a circular order. Some simple rules ensure that verifiers are neither added to nor removed from that circular order too quickly. In order to produce a believable forgery of the blockchain for any meaningful amount of time, an attacker would need to obtain more than half of the private keys of verifiers currently working on the blockchain. The design and technology are simple and clearly explained in NYZO whitepaper. This document was created in the very beginning and it might not cover all aspects as it should, the release notes make up for this.
Still too lazy and didn't read NYZO whitepaper? Relax, and listen to the soothing audio version.
Verifier 
Mesh (cycle) participants are called verifiers. Verifiers are in charge of verifying transactions and producing blocks. In exchange for securing the network, verifiers collect transaction fees which are distributed fairly among all of them. Each verifier gets a chance to verify one block in one mesh cycle. NYZO don't need mining equipment and large amounts of processing power like others, only unique IP address and always-on Linux VPS is required.
Sentinel 
The purpose of the NYZO Sentinel is to provide improved stability of the cycle by producing blocks for in-cycle verifiers that are unable to produce blocks due to temporary hardware and network issues. The Sentinel should not be run on an instance that is running the verifier. The NYZO sentinel is a separate version of the nyzoVerifier designed to protect your in-cycle verifiers. Its job is to constantly check up on your verifiers. If one of them is unresponsive, the sentinel will initiate communication on behalf of the verifier, this all to ensure future cycle inclusion.
The Mesh (cycle) 
is simply a network of computers known as verifiers all running NYZO and communicating information to each other. The Mesh (cycle) is a central point of PoD system. For securing the Mesh these computers are given a 10% reward of transaction fees for each block they secure.
Check your NYZO verifier status, search for your nickname or IP
Newcomers can sometimes get confused with how Nyzo verifier lifecycle works in practice or how to join the cycle.
Block files 
One part of the consensus algorithm is the block consolidation process which ensures that a small machine such as a Rock64 Pro or a beefy Raspberry Pi can run a NYZO verifier with little storage space. 1000 blocks are consolidated into 500 Kb of storage space. Very efficient.
51% attack resistance and energy efficiency 
NYZO has a properly designed economic model that relies on time. Therefore, the cost for 51% attacks (relative to market cap) is huge, there is ongoing incentive to participate in the network, and attacks based on computing power (PoW) or ownership of token (PoS) aren't feasible. NYZO uses only a tiny fraction of Bitcoin’s resources while performing the same tasks. 58 000 000 000 kWh - 58 TWh : current BTC power cons. per year vs 36500 kWh - 0.0000365 TWh : current NYZO power cons. per year = 1,589,041 times more efficient and 51% attack resistant.
Roadmap 
NYZO developers have been asked many times for a roadmap. The roadmap is to keep making the code more stable, more robust, and more efficient.
Nyzo development: 15 months of hard work (and beyond)
Scalability 
NYZO doesn’t require any Layer 2 scaling solutions and is able to handle high transaction volumes per second which is only dependent on the performance of the verifiers in the mesh. The block time is 7 seconds and block size is 28 Kb.
Micropay is a lightweight way of using NYZO that shifts as much burden as possible to the person receiving the payment to make it as easy as possible for someone to send small payments. Next step is an API server for Micropay.
Useful guides and articles 
2k verifiers/nodes are in the cycle and 24k verifiers are patiently waiting to join the mesh/cycle. The following video tutorials will explain in detail how to set up your own NYZO mesh verifier node. For more information about setting up please visit Nyzo DISCORD.
VIDEO TUTORIAL - How to setup a NYZO verifier and sentinel on a VPS - video tutorial from Refortuna Analytics
VIDEO TUTORIAL - How to set up a Nyzo Verifier on Hetzner - from community website Nyzo.io
Nyzo review and guide how to set up verifier - very detailed review and guide by MyAltcoins.info
Nyzo - Time and diversity as a currency (+ 4 translations here) This article goes into detail about the consensus algorithm and its benefits, it sketches a hypothetical attack scenario and the cost of an attack at this point in time (while the market cap is still low).
Arguments against early entrants This article goes into detail about the early stages of the project, what has happened, how certain events have unfolded and the diversity of the project, it creates a parallel between Bitcoin and NYZO to cover an important aspect of the network in detail.
Time An article going deeper into the time aspect of the network, written by a community member
Ethereum An article comparing NYZO’s consensus algorithm to the development state of Ethereum, written by the same user as the article above.
Bitcoin Yet again an article comparing NYZO, this time with Bitcoin.
Proof of Diversity - A novel solution for limitless blockchain scalability | Micky.com.au
Thoughts on Tor and Nyzo
Developer fund 
The initial developer fund plan can be found here, this has been followed up and the details have changed. The developers effectively own 0.6% of the total supply. So far around 11 million has been “mined” and the remainder is spendable by the network through governed voting, with a minimum amount of votes required for NYZO to be released (51% of the network needs to agree).
IMPORTANT LINKS: 
Official website
Nyzo.net
Nyzo.today
Nyzo.io
Nyzo mobile wallet for Android phones on Google Play - Multilingual support (EN, DE, CN, ES, FR, RU, NL, HR) - developed by ThreeDots Technologies
Nyzo key tool and Web wallet
Nyzo Space - Paper wallet - developed by Angainor Dev
Nyzo DISCORD - There are currently 1600 active members and developers in the discord group with multiple joining every day. Most of the community communicates here. Here is where you’re guaranteed to have a one-on-one with the developers.
GitHub
New Community Forum website (You can get here lots of useful information. If you are ready to build for Nyzo and get paid, please read this article... Nyzo and its protocol which facilitates building)
Chinese Community website NYZO社区
Nyzo Twitter
Nyzo Gang Twitter
Facebook
Telegram
Instagram
Tumblr
Reddit
Bitcointalk
Weibo
QQ: 1007477423
WeChat: Nyzo
Zedge
NYZO wallpapers for desktop and mobile devices
Trading: 
qTrade
BILAXY
HOTBIT
QBTC
Citex
BiHodl

https://preview.redd.it/brh7hm2n6m241.png?width=2560&format=png&auto=webp&s=8d8b45235fcc34200bcad5603249ae49a89c2612
submitted by Mobilenewsflash to Nyzo [link] [comments]

ChainLink - Rank 97 with no competitors. Undervalued Gem?

What Does ChainLink Do?
In a nutshell, ChainLink aims to solve the connectivity problem, a key limiting factor for smart contract usability, and whilst it's an ERC-20 token it will not be limited to just the Ethereum blockchain.
What makes $LINK so special? Well, it's the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens.
Partnerships
I will keep this brief, as you can see a full list of current and potential partnerships on https://www.reddit.com/LINKTradecomments/7mob78/list_of_chainlinks_partnershipsprojects_using/
But the main ones to look at are
The Pros
ChainLink has steadily been gaining traction ever since its downfall after the 4chan/reddit SIBOS hypetrain crash (post September). It's remained around the 90-100 rank mark and has yet to really "moon".
The Cons
So what makes ChainLink valuable?
The LINK token is used by smart contract owners to pay chainlink nodes for getting data from them and the more LINKs an oracle node has, the more reputable it is. So oracle node providers are incentivized to hold as much LINKs in their chainlink nodes to appear more reputable to the chainlink network, gaining more usage and profit
(Taken from a comment on https://www.reddit.com/CryptoCurrency/comments/7nwis4/why_i_believe_chainlink_link_is_the_most/)
Most importantly, LINK can (and will be) used for data request penalty payments to ensure that node operators provide the requested data. Penalty payments are LINK tokens that are required to be held in escrow by the smart contract. They are paid to the smart contract creator in the event any of the node operators do not meet the required data requests as stated in the smart contract. This provides an incentive for smart contract creators to trust node operators, knowing that they have a form of financial insurance (the penalty payment) in the event a node (or nodes) submit bad data.
For information that will trigger high value smart contracts, smart contract owners will want to require a proportionate amount of link to be held in escrow as penalty payments by the node operators. When link is tied up for penalty payments, it is released over the life of the contract. For example, let’s say party A wants an API snapshot sent every day for 30 days. If the penalty payment for the contract is 300 LINK (per node operator), then each node operator will have 10 LINK released to them at the end of each day – receiving the full 300 LINK at the end of the 30 days if they successfully performed the data request the smart contract asked for. Now imagine the smart contract creator wanted 10 node operators. That means 3000 LINK is taken off the market immediately, and 100 of that 3000 is released each day from the smart contract to the individual node operators (10 each per operator, assuming they provided the requested data). A cycle will be created where more and more smart contracts will make requests and node operators will be limited only by the availability of their LINK tokens to be used for penalty payments.
Add it all together and you have a singular payment method for a desired network (the most secure external data oracle), lots of supply constantly locked up to have enough link for signaling purposes (the reputation boost for a node operator), financial insurance for smart contract creators (penalty payments) for increasingly valuable triggering data in a wide variety of smart contracts, and a network poised for growth as more adapters are built and more API’s become available so that dapps can thrive on any blockchain network. Yes LINk is an ERC20 token, but it is blockchain agnostic and the adapter network can continue to grow.
LINK can also be staked!
LINK staking is another big thing that will do wonders for Chainlink's valuation. Turns out Chainlink oracles can be made into pools, similar to mining pools on bitcoin and ethereum where multiple people come and put their LINKs together to run a more secure oracle node and distribute the profits fairly between each other. This will be huge as it will effectively allow you to stake your LINK tokens and earn more of them passively without doing anything. One such pool in development is LinkPool (http://www.linkpool.io/).
Where do i buy and store LINK?
You can currently buy LINK at the following exchanges;
As an ERC-20 token, you can store LINK on your ledger or MEW wallets.
Here is a well written guide on how to purchase LINK https://www.reddit.com/LINKTradecomments/7gglfv/how_to_buy_link_chainlink_token/
Sources of Info For Own Research
P.S CEO Sergey Nazarov speaks at Bitcoin super conference next month too https://www.bitcoinsuperconference.com/speakesergey-nazarov/ as well as speaking at SXSW in march alongside Tom Gonser who is the founder and former chief strategy officer of DocuSign.
https://chainlinknodes.com/smartcontract-ceo-sergey-nazarov-speak-sxsw/
Sorry, All sounds great but i only invest based on TA
Good news, if LINK breaks 7k sats we're in for a moon too!
Edit: updated TA
https://uk.tradingview.com/x/GEBhGcKz/
Added from comments
Don't forget that AXA Insurance and Sony Corp did a test smart contract on their platform last week: https://create.smartcontract.com/#/contracts/fa4703cb68e3c152a9f47bafd57fe1fa
AXA Insurance has announced that they will be implementing blockchain: https://group.axa.com/en/newsroom/news/axa-goes-blockchain-with-fizzy
Facebook Director of Engineering joins ChainLink: https://www.financemagnates.com/cryptocurrency/news/facebook-director-engineering-joins-chainlink-advisory-board/
Zuckerberg says he will be studying crypto make Facebook better: https://www.coindesk.com/zuckerberg-to-study-cryptocurrency-in-quest-to-decentralize-facebook/
submitted by lamps92 to CryptoCurrency [link] [comments]

Your Guide to NYZO

Your Guide to NYZO
NYZO is the highly efficient Proof-of-Diversity (PoD) blockchain for everyday spending.
NYZO has been developed from the ground up, it is an open-source initiative and isn't a copy of any existing blockchain project.
The network has been running for more then one year now and the source code can be found on GitHub. The NYZO codebase is going to start acting as an API server. This will be run-mode dependent, just like the various web server functions that are available now. It will interact with the mesh on one side and whatever it needs to interact with on the other side.
Developers update NYZO all the time with fixes and performance and stability improvements. Every update which has been created for the network so far has been accompanied by a release note, a detailed document detailing every change to the network to make it better.
We can find these release notes on the website of the developers: What's new? - as you can see, the network has been worked on on a regular basis and each release note is multiple pages long - developers are dedicated to making this a success and this is their testament.
Whitepaper 
Proof-of-Diversity (PoD) consensus mechanism requires active participation in the form of time and verifier behaviour in the blockchain to be allowed to exert a certain influence on the system as a whole. The Proof-of-Diversity blockchain uses verification cycles to establish the authoritative form of the blockchain. The basic concept of proof-of-diversity is simple. Verifiers take turns producing blocks in a circular order. Some simple rules ensure that verifiers are neither added to nor removed from that circular order too quickly. In order to produce a believable forgery of the blockchain for any meaningful amount of time, an attacker would need to obtain more than half of the private keys of verifiers currently working on the blockchain. The design and technology are simple and clearly explained in NYZO whitepaper. This document was created in the very beginning and it might not cover all aspects as it should, the release notes make up for this.
Still too lazy and didn't read NYZO whitepaper? Relax, and listen to the soothing audio version.
Verifier 
Mesh (cycle) participants are called verifiers. Verifiers are in charge of verifying transactions and producing blocks. In exchange for securing the network, verifiers collect transaction fees which are distributed fairly among all of them. Each verifier gets a chance to verify one block in one mesh cycle. NYZO don't need mining equipment and large amounts of processing power like others, only unique IP address and always on Linux VPS is required.
Sentinel 
The purpose of the NYZO Sentinel is to provide improve stability of the cycle by producing blocks for in-cycle verifiers that are unable to produce blocks due to temporary hardware and network issues. The Sentinel should not be run on an instance that is running the verifier. The NYZO sentinel is a seperate version of the nyzoVerifier designed to protect your in-cycle verifiers. Its job is to constantly check up on your verifiers. If one of them is unresponsive, the sentinel will initiate communication on behalf of the verifier, this all to ensure future cycle inclusion.
The Mesh (cycle) 
is simply a network of computers known as verifiers all running NYZO and communicating information to each other. The Mesh (cycle) is a central point of PoD system. For securing the Mesh these computers are given 10% reward of transaction fees for each block they secure.
Check your NYZO verifier status, search for your nickname or IP
Newcomers can sometimes get confused with how Nyzo verifier lifecycle works in practice or how to join the cycle.
Block files 
One part of the consensus algorithm is the block consolidation process which ensures that a small machine such as a Rock64 Pro or a beefy Raspberry Pi can run a NYZO verifier with little storage space. 1000 blocks are consolidated into 500 Kb of storage space. Very efficient.
51% attack resistance and energy efficiency 
NYZO has a properly designed economic model that relies on time. Therefore, the cost for 51% attacks (relative to market cap) is huge, there is ongoing incentive to participate in the network, and attacks based on computing power (PoW) or ownership of token (PoS) aren't feasible. NYZO uses only a tiny fraction of Bitcoin’s resources while performing the same tasks. 58 000 000 000 kwH - 58 TWh : current BTC power cons. per year vs 36500 kwH - 0.0000365 TWh : current NYZO power cons. per year = 1,589,041 times more efficient and 51% attack resistant.
Roadmap 
NYZO developers have been asked many times for a roadmap. The roadmap is to keep making the code more stable, more robust, and more efficient.
Nyzo development: 15 months of hard work (and beyond)
Scalability 
NYZO doesn’t require any Layer 2 scaling solutions and is able to handle high transaction volumes per second which is only dependent on the performance of the verifiers in the mesh. The block time is 7 seconds and block size is 28 Kb.
Micropay is a lightweight way of using NYZO that shifts as much burden as possible to the person receiving the payment to make it as easy as possible for someone to send small payments. Next step is an API server for Micropay.
Useful guides and articles 
2k verifiers/nodes are in the cycle and 24k verifiers are patiently waiting to join the mesh/cycle. Following video tutorials will explain in detail how to set up your own NYZO mesh verifier node. For more information about set up visit Nyzo DISCORD.
VIDEO TUTORIAL - How to setup a NYZO verifier and sentinel on a VPS - video tutorial from Refortuna Analytics
VIDEO TUTORIAL - How to set up a Nyzo Verifier on Hetzner - from community website Nyzo.io
Nyzo review and guide how to set up verifier - very detailed review and guide by MyAltcoins.info
Nyzo - Time and diversity as a currency (+ 4 translations here) This article goes into detail about the consensus algorithm and its benefits, it sketches a hypothetical attack scenario and the cost of an attack at this point in time (while the market cap is still low).
Arguments against early entrants This article goes into detail about the early stages of the project, what has happened, how certain events have unfolded and the diversity of the project, it creates a parallel between Bitcoin and NYZO to cover an important aspect of the network in detail.
Time An article going deeper into the time aspect of the network, written by a community member
Ethereum An article comparing NYZO’s consensus algorithm to the development state of Ethereum, written by the same user as the article above.
Bitcoin Yet again an article comparing NYZO, this time with Bitcoin.
Proof of Diversity - A novel solution for limitless blockchain scalability | Micky.com.au
Thoughts on Tor and Nyzo
Developer fund 
The initial developer fund plan can be found here, this has been followed up and the details have changed. The developers effectively own 0.6% of the total supply. So far around 11 million has been “mined” and the remainder is spendable by the network through governed voting, with a minimum amount of votes required for NYZO to be released (51% of the network needs to agree).
IMPORTANT LINKS: 
Official website
Nyzo mobile wallet for Android phones on Google Play - Multilingual support (EN, DE, CN, ES, FR, RU, NL, HR) - developed by ThreeDots Technologies
Nyzo key tool and Web wallet
Nyzo Space - Paper wallet - developed by Angainor Dev
Nyzo DISCORD - There are currently 1600 active members and developers in the discord group with multiple joining every day. Most of the community communicates here. Here is where you’re guaranteed to have a one-on-one with the developers.
GitHub
New Community Forum website (You can get here lots of useful information. If you are ready to build for Nyzo and get paid, please read this article... Nyzo and its protocol which facilitates building)
Chinese Community website NYZO社区
Nyzo Twitter
Nyzo Gang Twitter
Facebook
Telegram
Instagram
Tumblr
Reddit
Bitcointalk
Weibo
QQ: 1007477423
Zedge
NYZO wallpapers for desktop and mobile devices
Trading: 
qTrade
BILAXY
Hotbit
QBTC
Citex
BiHodl


https://preview.redd.it/5ep6vlsj3l341.png?width=2560&format=png&auto=webp&s=40ef27f1c38bb3d4c542cfdfc58faa054ad7cc0b
submitted by Mobilenewsflash to CryptoCurrencies [link] [comments]

There are no words for how happy you've made me! You beautiful, beautiful people... THANK YOU!

Edit: I am so grateful to everyone who is using other methods of payment to carry on the spirit of this subreddit while I try to sort everything out with Paypal. I want to say thank you to everyone who has been dedicated to donating to the cause, even setting up bitcoin and changetip accounts to do so. You guys are seriously amazing, and I'm blessed to even be a part of this. It's been a busy weekend, but I've updated the totals for you guys and am working on unfreezing everything with Paypal. This probably means I'll be consolidating my accounts together, so it might take a minute. Again, thank you so much for everything.
Paypal has demanded that I remove the link from this post as it violates the Acceptable Use Policy. This is clearly due to a misunderstanding of how /millionairemakers works, so I'll be contacting them tomorrow to see if I can re-add the button back up.
I've submitted everything to verify GWallet and Paypal. Now comes the waiting game. This means that the totals below are substantially lower than what has actually been donated. YOUR DONATIONS ARE GOING THROUGH, MY BANK IS NOT WORKING AT THE SPEED OF REDDIT! Again, I'm totally breathless at all of this, THANK YOU!!
I'm trying to reply to as many people as I can, thank you thank you THANK YOU all so much for everything, this is so amazing!
Holy bananagrams you guys, you've made my entire year! I'm still in shock from all of this. Thank you all so much for donating and to being a part of this amazing subreddit! I'm trying as hard as I can to reply to all of you.
I had lost my job a couple of months ago and was drowning in the quagmire of job searches. I started getting really depressed about a week ago, as I had just about run out of the savings I had to get a new job. The other day I posted in /millionairemakers hoping for something but not really expecting anything. I've lurked on reddit for a little while and don't really have the courage to post anything, just the odd comment here and there. After a job interview today, I went on a hike with a friend of mine and afterwards saw that my phone exploded with replies about winning this and I'm on cloud 9 right now with excitement!
As for what I'll do with this money, most of it will go to taking down my student debt and living expenses...all except for one dollar, which of course goes to the future winner. If this is significant enough, you can bet that I'll be in places like /Random_Acts_Of_Pizza , /millionairemakers , etc. trying to impart the same elation that I have now.
This is an amazing community and I'm so blessed to be a small part of it. I'm shaking with happiness and I hope to contribute the same feeling to the next person.
Huge thanks to the mods for helping out with the logistics and verification. Another huge thanks to all the redditors of this beautiful subreddit, you have changed my life in a way that I will remember forever and can only hope to pay forward.
prophecynine posted links to my address to see how much Bitcoin, Dogecoin and Litecoin y'all have donated.
17:00 EST: GOOGLE WALLET IS VERIFIED AND WORKING. I have just got off the phone with Google wallet and everything is verified. I have a bunch of transactions to claim, so I'll be back in a bit with the updated numbers. Thanks for being so patient!
THE PAYPAL ACCOUNT WAS VERIFIED BUT APPARENTLY IT AUTO-DENIED PAYMENTS.
  • Changetip: 1,864.76
  • Paypal: $870 Still frozen, working on it
  • BTC: 3.49455462 = $1064.89
  • GWallet: $1056.05
  • Dogecoin: 944,420.14707387 = $159.88
  • Dogetip: 743969.22631525 = $125.61
  • Litecoin: 20.41007954 = $39.27
  • Litetip: $10.53
First update: $1401.32
21:58 EST: $2335.00
04:17 EST: $2460.31 Still waiting on GWallet and Paypal. You guys are incredible.
01/22 20:00 EST: $3743.80
01/24 03:23 EST: $4400.96
01/26 10:55 EST: $5190.99
This part is written by the mods:
All of the amounts below should result in smallrye receiving about $1 USD
Methods of payment:
Tipbots
Guide Amount Comment this to donate
Changetip Guide $1 "Congrats here is $1! changetip"
Dogetip Guide 7000 Doge "+dogetipbot 7000 doge"
Litetip Guide $1 "+litetip $1"
Cryptocurrency transfer
Guide Amount Address QR Code
Bitcoin Guide 0.005 BTC 3MWibkwK2G4XJoJJrCHNVJ2SD1UVnTBrxq Imgur
Dogecoin Guide 7000 Doge DJXxzksHMZKQ74DjBuQDBPx5gqbhXaKbk6 Imgur
Litecoin Guide 0.76 LTC LSMbR5mXBfLFP3gRvUSHhnwA7wy2J8KZwE Imgur
Cash transfer
Guide Amount Address
PayPal Guide $1.40 [email protected] or this link removed as per Paypal's Acceptable Use Policy, I will be contesting this, but for now let's play it safe...
Google Wallet Guide $1 [email protected]
submitted by Smallrye to millionairemakers [link] [comments]

The Great Bitcoin Bull Market Of 2017 by Trace Mayer

By: Trace Mayer, host of The Bitcoin Knowledge Podcast.
Originally posted here with images and Youtube videos.
I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back.
Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate!
Therefore, this article will be pretty lengthy and meticulous.
BACKGROUND
As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments.
I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC!
On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:

As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences.
With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell?
FUNDAMENTALS
Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel.
The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages.
SECURITY
The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed.
At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied).
This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m.
This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000.
Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day.
Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage.
When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin.
These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way.
With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!

SPECULATION
For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers.
Bitcoin is both a Giffen good and a Veblen good.
A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect.
Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand.
There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable.
(http://www.runtogold.com/images/lost-bitcoins-1.jpg)
(http://www.runtogold.com/images/lost-bitcoins-2.jpg)
And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage.
According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not.
For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin.
Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you.
In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away.
RETAIL
There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017.
Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin.
If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts.
What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available.
After all, it takes some time and practical experience to learn how to safely secure one's private keys.
To do so, I highly recommend Bitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware).
WALL STREET
There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017.
LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization.
The CME Group announced they will begin trading in Q4 2017 Bitcoin futures.
The CBOE announced they will begin trading Bitcoin futures soon.
By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable.
This price discovery could be the most wild thing anyone has ever experienced in financial markets.
THE GREAT CREDIT CONTRACTION
The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets.
(http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg)
Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset?
BITCOIN'S RISK PROFILE
At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit).
But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk.
Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B.
And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography!
This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen.
Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity.
To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes.
(http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png)
TRANSACTIONS
Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve.
On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017.
Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls?
As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again.
Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move.
There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day.
(http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png)
What I like about transaction fees is that they somewhat reveal the financial health of the network.
The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee.
The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it.
I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA.
DEVELOPERS
Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want.
The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is.
However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses.
Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem.
Nevertheless, the Bitcoin ecosystem is healthier than ever before.
(http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg)
SETTLEMENT CURRENCY
There are no significant global reserve settlement currency use cases for Bitcoin yet.
Perhaps the closest is Blockstream's Strong Federations via Liquid.
PRICE
There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth.
Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand.
Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics!
(http://www.runtogold.com/images/bitcoin-speculation.jpg)
On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030.
On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus."
On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000".
Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition.
I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC.
Interestingly, the people who understand it the best seem to think its financial dominance is destiny.
Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State.
Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend.
(http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png)
Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market.
The 200 day moving average is around $4,001 and rising about $30 per day.
So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications.
(http://www.runtogold.com/images/bitcoin-price-pro-forma.png)
Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction.
We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose?
As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world.
CONCLUSION
Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017.
The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled.
The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon.
While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright.
Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do!
But perhaps there is a larger lesson to be learned here.
Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts.
Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin.
Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go?
After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it!
What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
submitted by bitcoinknowledge to Bitcoin [link] [comments]

[Megathread] On August 21, 2017, a new altcoin called SegCoin (BSG) will be created using Bitcoin's transaction history. Bitcoin itself continues to function normally, as Bitcoin cash (BCH)

What is happening?
In what has been touted as the culmination of a multi-year scaling debate, on August 21, 2017 a new altcoin will be activated from Bitcoin. The new altcoin is known as "Segcoin" (BSG) or "Bitseg" depending on which wallet/exchange you ask. In order to avoid confusion with actual Bitcoin and other altcoins, we recommend readers refer to the new altcoin as "Segcoin" (BSG)
As with all altcoins, Segcoin is technically off-topic for the /btc subreddit. However, segcoin will be created based on Bitcoin's transaction history, and therefore all Bitcoin owners should be able to retrieve an equal amount of segcoin with some effort. Your Bitcoins are just as safe as they were before the chain split, but you should take care not to compromise your private keys if you wish to retrieve segcoin. This is not urgent unless you wish to trade immediately. If you choose to retrieve your segcoin, please be aware that consolidating your UTXOs will impact your privacy on both chains.
In order to help readers navigate this confusing situation and minimize disruption of relevant content, /btc has dedicated this sticky thread where readers can ask questions or leave comments pertaining to Segcoin. If you are wondering how to retrieve your new altcoin holdings, please read the discussion thoroughly as your questions may already have been answered. If you don't see a similar question, please be sure to mention your wallet method and preferred exchange so that other readers can help address your concerns. You are also invited to submit new threads to the /Segcoin subreddit if you so choose.
If you would like to understand the motives behind this new altcoin, please read The Future of “Segwit coin:” An Interview with Segwit lead developer Peiter Wuille
A Beginner’s Guide to Claiming Your “Segcoin” (and Selling It) is a must-read for anyone feeling particularly lost.
But I thought we avoided a chain split?
For those of you who thought we avoided a chain split with the activation of BIP91 a couple weeks ago, here's a very loose summary of what happened on the Segwit (BIP141, BIP148, BIP91) front:
*Bitcoin Core team deployed Segwit (BIP141) last year
*Miners refused to activate Segwit via BIP9
*Users deployed UASF (BIP148 by shaolinfry) to require Segwit (BIP141) signaling by August 1st
*Miners activated BIP91 (by James Hilliard) on July 20th in response to UASF (BIP148)
*BIP91 complied with UASF (BIP148) by enforcing Segwit (BIP141) signaling ahead of August 1st
*Segwit BIP141 is expected to lock in on Tuesday, August 8th
*Segwit BIP141 is expected to activate on Monday, August 21st
*BIP148 activated successfully without any chain split
Another altcoin called "SegWit2x" (B2X) may be created later this year, similar to Segcoin but with less safety precautions regarding replay protection
Despite all the progress we're making in scaling Bitcoin both on-chain and off-chain, the Segcoin crew has decided to part ways with the Bitcoin project by creating a new altcoin. The key differences are that they are attempting to gut natural block size growth from their forked client, as well as increasing the risk of mining cartels, development centralisation and high fee transactions
/btc wishes Segcoin a happy farewell and the best of luck in their new venture!
submitted by ConalR to btc [link] [comments]

[uncensored-r/CryptoCurrency] ChainLink - Rank 97 with no competitors. Undervalued Gem?

The following post by lamps92 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7oqv4x
The original post's content was as follows:
What Does ChainLink Do?
In a nutshell, ChainLink aims to solve the connectivity problem, a key limiting factor for smart contract usability, and whilst it's an ERC-20 token it will not be limited to just the Ethereum blockchain.
What makes $LINK so special? Well, it's the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens.
Partnerships
I will keep this brief, as you can see a full list of current and potential partnerships on https://www.reddit.com/LINKTradecomments/7mob78/list_of_chainlinks_partnershipsprojects_using/
But the main ones to look at are
  • Zeppelin OS
  • Town Crier
  • Request Network
  • SWIFT (we know SmartContract, the company behind ChainLink, are working with SWIFT on improving the efficiency of their bond payments, but nothing official regarding LINK & SWIFT yet).
The Pros
ChainLink has steadily been gaining traction ever since its downfall after the 4chan/reddit SIBOS hypetrain crash (post September). It's remained around the 90-100 rank mark and has yet to really "moon".
  • One of the strongest and most technical whitepapers out in the space atm (https://link.smartcontract.com/whitepaper)
  • Team has been working on this for 3 years and initial testnet is due to be released in Q1
  • Zero competition and first mover advantage even if there was (other oracles are currently centralized)
  • Etherscan shows that soon 95% of all available circulating LINK will be consolidated into less than 15,000 wallets and that continues to shrink as more people try to chase pumps, they're being shaken into stronger hands. As soon as Sergey's saved up LINK is finally handed over to institutions we'll see the price jump by increments of dollars and it'll be way too for most people by then (https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca)
  • Team is actively hiring more developers and a head of marketing
  • Only on one major exchange, so price likely to increase when listed on further exchanges
The Cons
  • Team is focused on development rather than shilling (take TRON for example) so lack of news/tweets to get normies on board (can be taken as a pro as you're still considered early)
  • The 4chan meme token
  • GitHub is private whilst the team work on moving from RoR to GO for Q1 Intitial Testnet release.
  • Not all team members listed on the website
So what makes ChainLink valuable?
(Taken from a comment on https://www.reddit.com/CryptoCurrency/comments/7nwis4/why_i_believe_chainlink_link_is_the_most/)
Most importantly, LINK can (and will be) used for data request penalty payments to ensure that node operators provide the requested data. Penalty payments are LINK tokens that are required to be held in escrow by the smart contract. They are paid to the smart contract creator in the event any of the node operators do not meet the required data requests as stated in the smart contract. This provides an incentive for smart contract creators to trust node operators, knowing that they have a form of financial insurance (the penalty payment) in the event a node (or nodes) submit bad data.
For information that will trigger high value smart contracts, smart contract owners will want to require a proportionate amount of link to be held in escrow as penalty payments by the node operators. When link is tied up for penalty payments, it is released over the life of the contract. For example, let’s say party A wants an API snapshot sent every day for 30 days. If the penalty payment for the contract is 300 LINK (per node operator), then each node operator will have 10 LINK released to them at the end of each day – receiving the full 300 LINK at the end of the 30 days if they successfully performed the data request the smart contract asked for. Now imagine the smart contract creator wanted 10 node operators. That means 3000 LINK is taken off the market immediately, and 100 of that 3000 is released each day from the smart contract to the individual node operators (10 each per operator, assuming they provided the requested data). A cycle will be created where more and more smart contracts will make requests and node operators will be limited only by the availability of their LINK tokens to be used for penalty payments.
Add it all together and you have a singular payment method for a desired network (the most secure external data oracle), lots of supply constantly locked up to have enough link for signaling purposes (the reputation boost for a node operator), financial insurance for smart contract creators (penalty payments) for increasingly valuable triggering data in a wide variety of smart contracts, and a network poised for growth as more adapters are built and more API’s become available so that dapps can thrive on any blockchain network. Yes LINk is an ERC20 token, but it is blockchain agnostic and the adapter network can continue to grow.
LINK can also be staked!
LINK staking is another big thing that will do wonders for Chainlink's valuation. Turns out Chainlink oracles can be made into pools, similar to mining pools on bitcoin and ethereum where multiple people come and put their LINKs together to run a more secure oracle node and distribute the profits fairly between each other. This will be huge as it will effectively allow you to stake your LINK tokens and earn more of them passively without doing anything. One such pool in development is LinkPool (http://www.linkpool.io/).
Where do i buy and store LINK?
You can currently buy LINK at the following exchanges;
  • Binance
  • Coss
  • EtherDelta
  • IDEX
  • GATE
  • Okex
As an ERC-20 token, you can store LINK on your ledger or MEW wallets.
Here is a well written guide on how to purchase LINK https://www.reddit.com/LINKTradecomments/7gglfv/how_to_buy_link_chainlink_token/
Sources of Info For Own Research
P.S CEO Sergey Nazarov speaks at Bitcoin super conference next month too https://www.bitcoinsuperconference.com/speakesergey-nazarov/ as well as speaking at SXSW in march alongside Tom Gonser who is the founder and former chief strategy officer of DocuSign.
https://chainlinknodes.com/smartcontract-ceo-sergey-nazarov-speak-sxsw/
Sorry, All sounds great but i only invest based on TA
Good news, if LINK breaks 7k sats we're in for a moon too!
Edit: updated TA
https://uk.tradingview.com/x/GEBhGcKz/
Added from comments
Don't forget that AXA Insurance and Sony Corp did a test smart contract on their platform last week: https://create.smartcontract.com/#/contracts/fa4703cb68e3c152a9f47bafd57fe1fa
AXA Insurance has announced that they will be implementing blockchain: https://group.axa.com/en/newsroom/news/axa-goes-blockchain-with-fizzy
Facebook Director of Engineering joins ChainLink: https://www.financemagnates.com/cryptocurrency/news/facebook-director-engineering-joins-chainlink-advisory-board/
Zuckerberg says he will be studying crypto make Facebook better: https://www.coindesk.com/zuckerberg-to-study-cryptocurrency-in-quest-to-decentralize-facebook/
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

[modpost] Possible wiki page, something I call "All about miners," covering things from basic terminology to miner config files and overclocking.

What is a miner?
A miner is a computer set up to solve cryptographic hashes in the litecoin network. Once a clump of these hashes, or a block, is mined, litecoins pop out! It's like opening a box of chocolates, except you know what you're gonna get :) Miners also handle transaction confirmations, making sure no single coin is double-spent.
Setting up your computer to be a miner
What kind of computer do I need?
Optimally, you'd have a good power supply and a couple decent Radeon/ATI/AMD graphics cards. Because of litecoin's hash algorithm, the gap between mining with graphics cards and processors is less than with most other cryptocurrencies, meaning that mining with some desktop processors may be worth it after electricity costs. Note that mining with laptops is not recommended because of the heat generated by mining, and mining with NVIDIA graphics cards may not be worth the cost.
How do I know if litecoin mining will be profitable for me?
First, check how fast you'll be mining with your hardware, how many litecoins you'll mine in a day, and how much litecoins are worth. Now, multiply the number of litecoins per day by their worth. Then, find out the power draw of your hardware, and calculate energy cost. Then finish by subtract energy cost from your daily earnings. If your number is positive, you're making that much money per day. If negative, you're losing money.
Keep in mind that the worth of litecoins goes up/down, and you have to earn the cost of your hardware before you churn a profit. Mining difficulty also goes up/down, depending on how many people are mining how fast in relation to how many litecoins are supposed to be generated how fast. See the economics(coming soon) post for more info.
Okay, I did all that. How do I start?
All you have to do is download a program and change some settings (later in the guide), and you're ready to go. If you're comfortable with configurations and the command line, Reaper and cgminer are your best friends. Otherwise, GUIMiner-scrypt is right for you. If you want to mine on your processor, download the "batteries included" miner via this link and setup should be relatively self-explanatory.
Do I mine alone?
Due to the difficulty of mining, we recommend that you mine with a pool where multiple people mine together. Visit your pool's about or help page for proper miner settings, which we're about to get to in-depth!
Under the hood
Configuring your miner (aka the hard part)
Before we get started, you should become familiar with these terms:
None of those will have any affect on how fast you mine. The settings that we'll be focusing on are:
If you're using GUIMiner-scrypt, there are default settings for different cards (lower right dropdown). I'm mining on a 7870. Here is what it looks like for me. You can follow along with the rest of this guide to optimize your settings. GUIMiner-scrypt is just a GUI to cgminer and reaper anyways.
If you are using a command-line miner, like reaper and cgminer, I recommend you download and isntall Notepad++ or SublimeText if on Linux.
Reaper is currently considered to be the best tool for mining. After you unzip your downloaded file, in the folder you'll find reaper.conf. It should look something like this:
kernel reaper.cl save_binaries yes enable_graceful_shutdown no long_polling yes platform 0 device 0 #mine bitcoin mine litecoin #mine solidcoin 
This will make it mine litecoin on your first graphics card and reference litecoin.conf, which for me looks like
host us-pool.give-me-ltc.com port 8080 user poolusername.1 pass anything protocol litecoin worksize 256 vectors 1 aggression 18 threads_per_gpu 1 sharethreads 32 lookup_gap 2 gpu_thread_concurrency 15380 
As you see, my thread concurrency is slightly different from the default of GUIMiner-scrypt. I found that this concurrency gives me the best hashrate!
NOTE: I do not use cgminer to mine litecoin. If you plan on using cgminer, which offers more hardware-controlling settings, in the cgminer folder you will want to create a text file. Then, open that text file w/ Notepad++ or SublimeText, then Save As > cgminer.con > file type > all. This will save the file with the proper name and as the proper type. Note that cgminer does not support high concurrencies. For me, cgminer.conf would look something like:
{ "pools" : [ { "url" : "XXX", "user" : "XXX", "pass" : "XXX" } ], "auto-fan" : true, "gpu-engine" : "920", "gpu-fan" : "0-100", "gpu-memclock" : "1375", "gpu-powertune" : "20", "gpu-vddc" : "1.219", "temp-cutoff" : "85", "temp-overheat" : "80", "temp-target" : "75", "temp-hysteresis" : "3", "kernel" : "scrypt", "gputhreads" : "1", "thread_concurrency": "8192", "worksize": "256", "intensity" : "dynamic", "vectors" : "1" } 
You saw some settings similar to what we saw in Reaper's litecoin.conf. The other settings have to do with my card's clocks, voltage, and fan. This is covered in the overclocking section right below!
Overclocking (aka the risky part)
Okay, first off I'm not responsible if you cause damage to your parts. Please research safe overclock settings for your card. Second, don't be afraid. Modern hardware has many safety features in place that help prevent mayhem like me...lol jk this isn't a car insurance add. For your better understanding, become familiar with these terms:
No one setting controls how effectively you mine; what matters most when it comes to clocks is the ratio between your core/memory clocks. Generally, a ratio of 0.7 or below is best. You will need to experiment. If you're using cgminer, you can control card settings from the conf file. However, if you aren't, I recommend using MSI Afterburner as your overclocking tool. You will need to unlock some settings. Using my cgminer settings, MSI Afterburner looks like this. I have found these settings to be the most stable while bringing me a high hashrate.
Other people's optimum settings
You can check the sidebar for the hardware comparison chart, but it is rarely updated and has huge sways in results. It is a good starting place. The mods of this subreddit will be putting together an updated, more accurate list in the near future.
END
I hope all things go smoothly for you and that you've learned a lot! Please consider donating LTC to
My wallet: LiD41gjLjT5JL2hfVz8X4SRm27T3wQqzjk
The writer of the [Consolidated Litecoin Mining Guide] which helped get me started
The writer of the [Absolute Beginner's Litecoin Mining Guide] which also helped me get started
submitted by mycomputerisbacon to litecoinmining [link] [comments]

Buratino Blockchain Solutions: we have found new solutions to old problems

The market of the mining equipment continues to develop strenuously contrary to adverse conditions on the crypto exchanges. Technologies are constantly improving, increasing growth of mining profitability at the reduction of energy consumption and partly compensating negative dynamics of cryptocurrencies rates. However, it automatically increases the complexity of production of new digital coins that form request for creation of more powerful equipment.
Industry is constantly changing and miners need to be able to understand modern trends of the branch. Let’s discuss market tendencies, new technology solutions capability to affect the efficiency of this business, and how exactly our team is ready to help miners.
Mining market today Lets begin with the general review of the market, with emphasis on forecasts of the authoritative research companies. Analysts of the American consulting company Coherent Market Insights are convinced: in the medium term (5–10 years) mining will be profitable. Demand for the new equipment will remain high even during the crypto -markets depression.
According to the last forecast of the company, by 2025 mining industry will exceed the capitalization level of $16,3 billion. The indicator of cumulative average annual growth rate (CAGR), according to experts, will grow by 18,68% from 2017 to 2025.
At the time of posting, the greatest share of computing capacities has been concentrated in Asia. Experts from other large consulting company Technavio consider that the Pacific Rim will take 51% of the general growth of the industry in 2018–2022. Then the share of the Pacific Rim will be reduced below 50% level.
The cause is a hard governmental line of China in relation to crypto industry. It makes miners migrate to other countries of North and South America and Eastern Europe.
According to the Technavio, 33% of the market is now in the New World, but the share of the USA will grow, forcing out China. Coherent Market Insights experts are solidary with colleagues, and also give the future world leadership to North America.
Improvement of production technologies of cryptocurrencies and increase in productivity of the hardware remains a key tendency of the current market. Along with it large producers of microelectronics, such as Samsung and United Microelectronics Corporation are entering the market as suppliers of hi-tech accessories.
The large manufacturing companies (Bitmain Technologies, BitFury, Advanced Micro Devices, etc.) actively develop ASIC systems with bigger energy efficiency and the increased hashrate coefficients. It is important for providing the more effective mining. However alternation of generations in available lines of the equipment happens slowly that opens opportunities for new players, such as our company.
According to the Coinshares company, hashrate of the only one Bitcoin network grows by 300% annually, the efficiency of chips increases by 80%, and their cost falls on average on 50%. So the profitability of digital coins production grows even in conditions of crypto rate instability with the introduction of new technologies in ASIC-mining . 74% of the mining market is the share of ASIC of all configurations in 2017. It is expected that they will continue to dominate.
The process of improvement of the hardware leads to the growth of volumes of the mined coins. But the more is mined, the quicker the algorithm of generation of new blocks in the network complicates. As a result — miners need capacities to grow.
Escalating levels of complexity become nearly the main factor of mining equipment market growth in the medium term. For example, analysts of Technavio predict the increase in growth rates for 2018 by 9,04%.
Increase in productivity as natural selection To be a successful miner means always to work proactively. Anyone who first manages to use more productive mining systems also remains in a prize or at least in the market.
The Forbes.ru magazine describes how the market of a mining is affected by the generation of more productive machines. All of us remember the last year's agiotage around the first ASIC systems for Dash cryptocurrency. Before it was mined only on video cards and brought the monthly income of $1-1,5 thousand from one farm. New miner (DM11G from iBeLink, Antminer D3 from Bitmain and DR-100 from Pinidea) promised income from $5 thousand from each installation.
Those who the first have managed to connect ASIC to Dash network succeeded the most. Their monthly income has made about $6 thousand, but it was not for a long time. The rapid growth of the number of ASIC devices in the network has provoked the same fast increase in complexity of calculations.
Therefore the payback period of one ASIC system has increased from 3-4 to 12 months. As a result, by the end of 2017, the profitability of Dash mining has decreased almost by 3 times (in comparison with September of the same year). In completion to everything, the Dash rate has fallen off in spring 2018.
Production of cryptocurrency is favorable only to those who quickly reacts to the production of the new hardware. Only being guided by new generation equipment or modernizing old ones it is possible not to lose.
Recent leaders VS perspective beginners BitFury and Bitmain remain recognized leaders in the global market in summer 2018. BitFury generally specializes in providing mining decisions under specific projects. Bitmain, on the contrary, is guided by production and sale of the ready-made mining systems.
Today the market is rather highly consolidated and more than a half of all computing capacities belongs to largest companies. Nevertheless, Coherent Market Insights analysts consider that in the near future deconsolidation of branch due to the appearance of new players is expected.
This segment is also interesting to us. With the support of the community on ICO, we will be able to impose market competition to the acting leaders. Just because present devices have a number of problems which are still not solved by anyone except for us.
Support of the only one cryptocurrency, the impossibility of the partial modification, high noise level, high costs of cooling and a lot of things still. Everything remains unresolved.
We plan to put on the market the multi-mining system of the new generation Papa Carlo. The equipment surpasses competitors in all key indicators: energy efficiency, productivity, customizability, the number of coins, etc.
With our development, it will be not just ASIC anymore, but the first real multi-miner, allowing to get fifteen digital currencies on the most popular algorithms SHA-256 and SCRYPT.
It is difficult to overestimate the potential of such a product. Papa Carlo is capable to take the worthy place in the market of the CIS and the whole world. It is enough to compare our technological product to the acting leader of sales - Antminer s9, to estimate all range of advantages of Papa Carlo.
Compare several key indicators of Papa Carlo and Antminer s9:
hashrate of Papa Carlo – 26 Th/s, Antminer s9 – 13,5 Th/s; Papa Carlo processors – 10 nanometers, Antminer s9 – 16 nanometers; the number of Papa Carlo chips – 210, Antminer s9 – 189; energy efficiency of Papa Carlo – 0,065 J/Gh, Antminer s9 – 0,1 J/Gh; Papa Carlo noise level – 35-45 dB, Antminer s9 – 75-80 dB. Conclusion Papa Carlo is a high-performance equipment which can compete with leaders of the market. Our Buratino Blockchain Solutions company provides its development and service.
The issue of own token will allow attracting the capital for scaling of business and distribution our multi-miner. Everyone who wishes to receive exclusive privileges from the producer at a stage of the closed sales can join our tokensale.
submitted by BuratinoBlockChainSo to u/BuratinoBlockChainSo [link] [comments]

Thoughts on the long term effects of recent cryptocurrency explosion?

DISCLAMER: This is just a curious open ended question with some of my thoughts attached not an "OMG end of bitcoins for REALZ!" I am admittedly an outsider to bitcoins (though I have a positive opinion of them and have the basic understanding covered) and I just posted this here because I thought the resulting discussion between far smarter and more informed individuals then myself who would like to participate in it would be interesting to read. End Disclaimer
So as everyone here is probably well aware there has been a fairly recent explosion in the number of cryptocurrencies.(1) Now Bitcoin is well designed to resist the pitfalls, such as inflation, that befall many other currencies especially the numerous fiat varieties. But I can't help but wonder if Bitcoin's elegant design to resisting such pitfall's is at least partially based on the assumption of it filling a unique cryptocurrency niche.
Namely as Bitcoin ages, the extra benefits of being an early adapter disappear (benefits such as: relatively easy and profitable mining, huge returns on initial investment as the currency catches on and its value goes through the roof, ect...). While such a mature Bitcoin currency will still be hugely useful(2) its gains and power will be predominantly consolidated with the initial investors and early adapters.
Now this wouldn't be a problem if Bitcoin were the only currency like itself (indeed it may not be a problem anyway, that is part of the purpose of this discussion to consider). But as mentioned above there has been a relative explosion of crytocurrencies. These things, as they become more stable, will start to compete with Bitcoin for its formerly unique niche. Moreover new currencies, while inherently riskier, offer a new chance to those who missed the boat on acquiring bonuses for being early adapters to Bitcoin. Indeed if new wish-they-had-been-early-Bitcoin-adapters get in on a new currency, they may someday end up like the big players of Bitcoin, getting transaction fees and enjoying other such rewards.
Now even this wouldn't necessarily be a problem, except for the fact that established Bitcoin infrastructure is really easy to translate to alternate cryptocurrencies. Like, for instance: if you have already built a big chain of Bitcoin ATMs, it should be a pretty trivial matter to make it also function for other cryptocurrencies as well. Similarly if you are a business, foundation, ect... that has already established ways to function on Bitcoins, it is pretty trivial to freely add other cryptocurrencies into the mix using mostly the same infrastructure. Basically there is no kinetic barrier and almost no cost for increasing the number of cryptocurrencies your business can run on once there is a base cryptocurrency infrastructure established
Thus my quandary: Bitcoin's coin cap renders inflation and hyperinflation impossible within the Bitcoin system itself. But if Bitcoin is unintentionally absorbed into an ever growing cryptocurrency conglomerate, where newer currencies are ever more favorable then older ones for an increasing number of new, or wish-to-repeat-new, adapters, one wonders; Wouldn't such a situation have the net effect of creating something that, while fundamentally very different, none-the-less be indirectly akin to inflation or even hyperinflation?
Looking forwards interesting informed opinions on this and other possible long term "threats" (or the complete lack there of) of alternate cryptocurrencies to Bitcoin.
. . . 
Foot Notes
(1) some discussion here on said cryptocurrency explosion for whatever it is worth (probably a boring empty read for you lot): http://www.bloomberg.com/news/2014-01-13/how-many-ronpaulcoins-in-a-coinye-a-guide-to-alternative-currencies.html
(2) indeed arguably more useful as by that point Bitcoin will have an even larger compatible infrastructure and purchasing diversity/power then it does now, and it is already pretty darn good now.
submitted by cischiral to Bitcoin [link] [comments]

Here is a transcript from the Ripple Consensus Presentation (May 22nd)

https://www.xrpchat.com/topic/5203-ripples-big-demo-and-why-you-missed-the-big-deal/?do=findComment&comment=49659
MY TRANSCRIPTION... 0:19
PATRICK GRIFFIN: All right I think we're gonna get started. There's total capacity. People at the door - there's a little room over here inside. There's chairs here - there’s chairs over here don't be shy. All right in case you don't know this, you are in “XRP In Action,” a live demo and expert Q & A.
I’m Patrick Griffin [with] David Schwartz and Stefan Thomas. We've got an hour today. We'll walk you through, we’ll do a quick round of introductions. Stefan is going to do a demo. We have a self-guided Q&A where I basically tee up some questions for these guys that will all be softballs don't worry! Then we'll turn it over to you guys to ask questions for the technical experts. Maybe we'll do it the quick round of intros, starting with Stefan:
1:07 STEFAN THOMAS: Yeah so, my name is Stefan Thomas I am CTO with Ripple. Before Ripple I was involved with BitCoin for several years and now I work on the vision and technical direction for Ripple.
1:22 DAVID SCHWARTZ: My name is David Schwartz. I'm the chief cryptographer at Ripple. I’ve been working on Ripple since 2011 and public ledger tech. Before that I was working on cryptographic messaging systems and cloud storage for government and military applications.
1:35 PATRICK GRIFFIN: I am Patrick Griffin. I’m the head of business development. I don’t know why I’m up here, but there’s our CTO and our head of cryptography, but actually I think we are the, to be honest here, I think we are the, we are the one two and three first employees of Ripple. Well, two one and three. We've been here for quite some time and it's been a long journey. So why don't we first start off with the demo and I think I'll tee it up: This is a demo that demonstrates our technical our technology start of the inter ledger protocol, moving payments in and out of XRP and Stefan will do a better job of articulating what you are about to see.
2:22 STEFAN THOMAS: All right thanks Patrick. So here we're gathered to have a quick round table on XRP. I want to go through the demo pretty quickly so we can get to the actual discussion Q&A which I thin is the meat of this session. Basically, what we're trying to do at Ripple is we're trying to make money move like information. This has been our mission since day one, and it has never changed and so we're building a number of different technologies that all integrate to make this vision a reality. And so what we think about how information actually moves I think it's really it's really this chart that captures it.
So what's happened is that the cost of moving information has really declined over the last couple decades and very strongly so. And as a result the volume of information that’s been moving has exploded. And so, very often you know, our customers will be talking to me about, you know:
Oh are you focused on corporate payments? Are you focused on consumer payments?
I think what you have to realize is that we're somewhere down here in that curve and so you know when you say like two-thirds of all payments are corporate payments you're really talking about two-thirds of almost nothing. I think what we're focused on is this growth that you can create if you increase the efficiency of the system enough.
And so the way that we're kind of approaching that is we want to streamline the way that liquidity works today. So today you have 27 trillion dollars in float sitting around the world that is essentially there to facilitate real-time payments when the underlying systems are not real time.
3:59 STEFAN THOMAS: So, for instance, I swipe my credit card somewhere there has to be an actual creditor or money available to pay that merchant if that's supposed to happen instantly if the underlying money can't move in real time. And so that's been the case ever since we were using gold and fiat currencies in order to move money internationally, but with digital assets there's actually opportunity to improve upon that and actually move real assets in real time.
So if you have something like XRP you don't need to pre-fund float all around the world. You can actually just have this digital asset and if you want to transfer value to somebody, you want to transfer value internationally, you can just transfer that asset and that moves instantly okay?
4:40 STEFAN THOMAS: So that's really the improvement. So with that I want to give you sort of a case example in a demo. This is something that already happens on blockchains today where there are money sources business that are using, businesses they're using block chain in order to move funds so they might sort of offer this as a service to small and medium businesses where if I want to let's say pay somebody in a different country I can go to one of these companies and they will move that money for me.
5:09 STEFAN THOMAS: So, in this example, we're kind of pretending that we're a publisher, we have a reporter in the field. and we’d like to pay them. And so, you know we don't really build apps, but we enable banks and other money service businesses to build apps on top of our platform. So this is kind of a mock-up that we’ve developed where, you can imagine, this would be just built into the the particular app of that company. And so I can basically pick any amount, so let’s say I want to send, say $7, and what happens is that you can see is that amount updates so what happens during that time is that we actually try to find the cheapest path from where the sender is to which are provided at the recipient uses and then once we found that cheapest path, we figure out what the exact cost is going to be, so we have that transparency upfront. What is the cost of this payment and this is all powered by the open source protocol InterLedger. Now, when I send this payment, it goes through right away. I don't have to wait for a ton of confirmations and so on.
6:11 STEFAN THOMAS: So let's talk a little bit about what is happening there in the background. So first, we basically look at the topology of the network and then we try to find a path. So say it found a path through XRP. Once we select the path, we basically send a code request to figure out what we think that cost is going to be and then we send the money through in two phases as per InterLedger Protocol, and that's enabled on XRP using a feature called escrow that we just launched earlier this year and so now XRP is it's fully InterLedger enabled.
6:50 STEFAN THOMAS: So, if we look at the kind of a cost calculation, this is kind of some fictional numbers but it's correct in terms of order of magnitude, right. So you have Bitcoin, you have Theory, we have XRP, we have Swift, and so our algorithm basically goes in and it tries to select the best option and so people often ask me like why does InterLedger help XRP? or why are you guys working on InterLedger as a completely neutral protocol when you actually have this vested interest in XRP?
7:18 STEFAN THOMAS: Well, because the reason is that XRP is right now by far the best digital asset but it's not being used as much as Bitcoin, for instance, and so in order to close that gap we want to get to a point where the selection of asset is kind of automated and you have algorithms to just pick the best one in which case, right now, XRP would get picked all the time. So that's why we have such a vested interest in just enabling more efficient selection. All right. So as you can see, it's the lowest fee right now and it’s the fastest turn right.
7:48 STEFAN THOMAS: Now, going a little bit further into the future, I was kind of talking about that huge explosion in volume and I think where that comes from is completely new user inter faces that we don't necessarily think about today. So one example would be, you have something like a publisher and a reader and a reporter and the reader is actually browsing an article and they're not having to sign up and go through a paywall in order to do that Their browser just pays them on their behalf automatically and then as a publisher I can see the money sort of coming in, in real time as users are browsing my website. And so you're basically providing the sort of metered access to your content. There's just one example. I think there's a lot of cases of APIs and other parts the industry that could benefit from micro-payments as a more granular way of transacting. So I don't have time to talk about that, but with that I hope you've got sort of a taste of both what XRP looks like today as well as what the future holds in terms of doing micro payments through payment channels, and so on, on InterLedger. So with that, I'll hand it over to Patrick to start the discussion.
9:00 PATRICK GRIFFIN: Very cool. So maybe it’s worth stepping back and also looking at our company strategy and having a conversation around what it means when we talk about an Internet of Value, which I think well this is a Silicon Valley company and for most people that doesn't mean a whole lot so maybe we can take a first stab at trying to explain what is an Internet of Value and Stefan, I’ll start with you. Actually, why don’t we start with David and give you a break.
9:24 DAVID SCHWARTZ: Yeah, so what is the Internet of Value and what are we working on? Well, the Internet has brought connectivity to billions of people around the world. They have smart phones. They have easy access to the movement of information but money is still siloed. It's still trapped in systems that don't talk to each other. Moving payments are expensive. They're slow. There's high friction. There's trillions of dollars that moves across borders and that's moved mostly by financial institutions, and we need to move that money more efficiently. We need to know where it is. We need to improve that flow.
10:02 DAVID SCHWARTZ: I don't know if any of you have made international payments or most of you have on traditional systems and you know that it's very hard to know where that money is. It’s very hard to know how much it's going to cost you ahead of time. The user experience is not great. A significant fraction of those payments fail. It takes several days. It's almost easier to ship money than it is to use our existing payment system. So we want to provide an Internet of Value where there is instant payment. Payment on demand, without failure. When you know ahead of time how much money is going to deliver. You know what path is going to take and because that transaction is set up using modern internet protocols you know ahead of time exactly what the requirements are at the destination so you don't have a failure because you didn't have the right information at the beginning.
10:45 STEFAN THOMAS: Yeah so um whenever I think of the Internet of Value, I think the number one thing that happened with the internet was that it kind of commoditized reach. So, before the Internet, if you wanted to be an online service provider like AOL or CompuServe the number one thing that you needed to have in order to be competitive is a lot of users. And if the main thing you're competing over is just having a lot of users it's very hard to get into that market for obvious reasons because you start out with zero users so how do you attract the first couple? But once you have something like the internet where all the different networks are actually tied together, suddenly the number of users you have is completely irrelevant, right? Because all of the networks are tied together you can reach all the websites, you can email all the people on the internet and so the competition has to be about something else and what does it become about? It becomes about about the efficiency of the system.
11:35: STEFAN THOMAS: And so, this fundamental transition has not happened with money yet. Like right now the the biggest consumer payment systems are things like Visa and MasterCard and they're very much competing on: We’re the biggest. We have the most merchants. We have the most customers, and so how are you going to compete with us, right? We would not even have to try to be efficient, necessarily, right? Because we're only competing with each other. It's very hard to get into that market, and so what we're trying to do with InterLedger, by creating an internet working protocol we're allowing you to go across multiple hops across multiple steps through the financial system and as a result you can tie a lot of smaller providers, a lot of smaller banks together and as a result make a system that’s much more competitive.
12:15: PATRICK GRIFFIN: I’ll just add my two cents in. I when I talk about the Internet of Value with customers it's typically the conversation on the cost and opportunities and for us you know, one of the analogies it's overused in the internet I think the Internet of Value, at least for me, is the function of bringing the marginal cost of payment processing down to as close to zero as possible. Now you can do that in one of two ways: Lower the cost of payment processing. Just for the sake of conversation these two things are 50/50. Payment processing: the messaging going between institutions and the cost of reconciling transactions as they go from one siloed network to another siloed network. Those are huge costs that the system currently bears just as a function of tracking down lost payments or fixing mistakes and broken transactions.
13:00 PATRICK GRIFFIN: Something like 12% of all international wires fail. That is an astonishing number if you come from Silicon Valley where you're typically used to five nines of reliability. The financial system isn’t working even with one nine of reliability. The other side of the equation so that it’s a processing function. We are able to achieve better processing by starting that sort of settlement layer, it’s a little bit academic, but then ultimately what our customers are buying from us today is just a payment processing capability.
13:30 PATRICK GRIFFIN: The second stool, leg of the stool, if you will, this two-legged stool, for this Internet of Value, is liquidity. And this iquidity cost is a huge component of the payments that infrastructure today. And so, when you think about the cost that you pay when you wire money internationally, it's not just processing costs and fees. Banks and financial institutions and payment processors have to cover their cost of capital. They are laying out a massive amount of cash in different overseas accounts to make sure that when you send a payment to Japan there's cash on hand in Japan to service your payment.
14:05 PATRICK GRIFFIN: The whole visual that we saw here with XRP that's really where we see there being a large opportunity to bring the liquidity costs down if you can fund your payment instantly on demand without pre-floating cash or opening up credit lines with your counter-parties you can really bring down this component of that cost so those two things together in my mind at least that's that is what really comprises the internet of value. You tackle those two things: processing and liquidity really starts to open up and level the playing field. And on leveling the playing field maybe a question back to you Stefan is and a little bit about the strategy so as we go out and roll out these new APIs for bank to bank or financial institution processing, this narrative around using the digital assets upon payment certainly there's no reason why you couldn't insert Bitcoin in there or Etherium or some other digital assets do you view this as maybe leveling the playing field for all digital assets and creating an opportunity for other digital assets to come in and basically compete for that case?
STEFAN THOMAS: 15:12 Yeah so, we definitely look at it as as a way to create more competition I think that I'm just looking at the market today, most of the digital assets out there are not really designed for enterprising spaces, right? There they're coming from a background of direct to consumer use. They're kind of designed in a way that maybe isn't always necessarily totally in line with how regulators think about the financial system and as a result it’s quite difficult for companies to use these assets, so I think maybe some of people in the room are Bitcoin entrepreneurs and so you may know some of these struggles and you know some of these difficulties of using an asset like Bitcoin. I think you know me, speaking as CTO, more from the technical side, there are definitely big differences between the different digital assets, and so if you look at things like settlement speed on Ripple you get below four seconds most of the time four seconds on average. On Bitcoin you have to wait nine minutes between just to get one confirmation.
16:14 STEFAN THOMAS: There's things like finality. On Ripple when you get one confirmation you can hundred percent trust it, it cannot get reversed because the set of validators that are known so it can't be some validator you've never heard of suddenly coming up with a different answer. Whereas on Bitcoin, there can always be a longer chain that you just haven't heard of yet so you have to wait for multiple confirmations to gain more confidence. Another difference is that you know Ripple is non-deterministic and so bitcoin is is random so what that means is that the actual delay between blocks on Ripple is pretty consistent. It's four seconds with the standard deviation of 0.8 seconds so it's almost always exactly four seconds. And so, with Bitcoin it's more variable, right? So you could have a block after a minute. You can have a block after half an hour. And so, it's much harder for businesses to kind of rely on a system that has that high variability because it increases your risk as you holding an asset.
17:12 STEFAN THOMAS: So these are just some examples of why we think that XRP is best suited for payments use cases. And I think I'll give, be giving a talk later today on on going into a bit more depth on some of these differences
17:28 DAVID SCHWARTZ: And and we're not afraid of a level playing field. As Stefan said we think we can succeed on a level playing field but also you can get people to build a level playing field. It's very hard to get other people to stand behind something that has a built-in bias in favor of one company. Twitter doesn’t, it doesn't mind the fact that the internet wasn't built for Twitter. Facebook doesn't mind. They like the fact that there's an open platform that everybody can support and use and they're willing to compete on that level playing field and if they lose on that level playing field you know, so be it, somebody else will win and the world will be a better place for it. We believe that we have the advantages today and we believe that we can get the industry behind an open standard that facilitates these types of instantaneous payments.
18:07 PATRICK GRIFFIN: So David, this is a question coming back to you. In this level playing field obviously there are digital assets can compete on different characteristics. Obviously I think that Bitcoin as scalability challenges have been I think very famous recently could you comment a little bit on Bitcoin’s recent lows some of the things that have come up around resiliency scalability and maybe draw a contrast to XRP and how XRP is working.
18:32 DAVID SCHWARTZ: Sure. I think the idea that you don't need governance. The idea that you can just have this decentralized system that magically government itself doesn't really work. The internet is a decentralized system it has governance. Bitcoin currently is experiencing a little bit of a governance failure due to with dis-alignment of incentives. Historically the minerss have had an incentive to keep the system working. Everybody needs the Bitcoin system to work, whether you hold, whether you try to do payment’s, whether you're mining. This system has to work or nobody has anything. Everybody's benefited from the value of Bitcoin going up. If you’re a miner, you want the value to go up. If you hold Bitcoin, you want the value to go up. If you're using it for payments having more liquidity and lower risk and holding bitcoins is good for you.
19:11 DAVID SCHWARTZ: So everybody's incentives were aligned. They're starting to become dis-aligned recently because miners have been getting a lot of revenue from transaction fees Miners like high transaction fees. Users obviously would prefer to pay less for their payments. People who want to use Bitcoin as a payment platform want frictionless payments and they're not getting them because of the fees. So there's been a little bit of a governance breakdown due to that misalignment of incentives and it's not clear how you resolve that. It's not really clear how the stakeholders can realign their incentives.
19:39 DAVID SCHWARTZ: I’m confident that Bitcoin will come out come through it but I think it shows that governance is important. You should understand how a system is governed whatever system it is because there is going to have to be governance. It’s not going to magically govern itself. Now Ripple, the stakeholders are the validators and the validators are sort of chosen by the other validators, so right now Ripple is obviously very big in that space. We’re the major stakeholder on the network, but the recent interest into the price increase has begun diversifying the stakeholders and so we hope to see different jurisdictions, different companies and those will be the people who will be the stakeholders and they'll make the decision if there are going to be changes in the rules behind in that market. We think that that will work better and I think if you, once you accept that there has to be governance, you really want it to be the people who are using the network. You don't want the technology to force you into having other stakeholders whose interest may be adverse to the people who just want to use the system to store value and make payments.
20:32 PATRICK GRIFFIN: So what stuff, I mean do you have anything to add just in terms of the underlying design of the systems and how they're confirming transactions? I think when you go way way way back to our company's beginning it was billed as Bitcoin 2.0. And you know we felt like there was another way you could build a decentralized digital asset without without mining. So maybe talk a little about the confirmation engine behind XRP and some of its advantages over other systems
21:04 STEFAN THOMAS: Yeah, so as I mentioned in the introduction, I was fairly involved in the in the Bitcoin community back in 2010-2011 and one of the features that I contributed to was paid to script hash as a reviewer it was one of the first people to re-implement Bitcoin and I pointed out some flaws and you know we ended up with a much better solution. And so, through that experience going through the cycle of new feature on Bitcoin, even back then when the committee was much smaller I realized that it was actually very painful to do even a uncontroversial improvement to the system and that was partly because people had a very strong tendency to be conservative which is a good thing, for any, like whenever you're modifying a live system. But there was also just like no good process for introducing changes.
22:00 STEFAN THOMAS: We had to come up with a process ad hoc. We came up with this whole voting on mining power and so on. Now, from that experience I remember going back to a wiki page on the big part of working called the hard fork wish list and I kind of looked at and is sort of the list of things other things that we wanted to do and a lot of them were in my opinion, in my humble opinion, must haves for any kind of mainstream or enterprise adoption and so I was kind of like putting numbers next to them like this would take eight months this would take 12 months this would take two years and it started to add up like I'm not going to see this get to that point if we go at this rate.
22:38 STEFAN THOMAS: And then you know Ripple approached me and they had a lot of that hard fork wish list already implemented but maybe more importantly they had a different idea on the governance structure and I think there's sort of two key differences: The first key difference is there is an entity that's actually funding the development of the asset and all the technology behind the asset. And so you know, I was looking at the Bitcoin foundation website the other day and they're currently, their most recent blog post is to promote this lawsuit in New York to try to strike down the bit license and apparently the foundation feels that it's strategically important for Bitcoin to kind of fund this lawsuit and they looked at how many people had actually donated to the donation address that they were giving and it was just over a thousand dollars basically. Almost nothing
23:31 STEFAN THOMAS: And I was thinking like well if XRP you know had any strategic issue like that there would be millions of dollars immediately that just Ripple would put behind the issue and so as a holder of the asset that's really important for me to know that, you know, there is some some entity that's actually defending it from a technical standpoint, from a legal standpoint, from a business standpoint. That makes a big difference
23:53 STEFAN THOMAS: And then the second big difference that I saw was how features and how generally the evolution of the technology is managed. So on Ripple, there's voting among the validators, which is not too dissimilar from you know the kind of mining voting that we're doing on Bitcoin. However the validators on Ripple are largely chosen by the users or they are chosen by the users. And so they're not chosen by so this algorithm or just by their virtue of being very efficient in mining. And so as David pointed out earlier, the incentives are very different. On Ripple, the incentives are you know I want the people who are appointing me to be validators to be happy with my validations because otherwise you know there's what they will stop paying me. And so you know there's a much more closely aligned incentive for the value of some Ripple to do what the actual users want to do.
24:46 DAVID SCHWARTZ: And I would add that there there are sort of vulnerabilities in both types of systems. Like with the miners, it would be a double spend. With the validators, they could simply stop validating and the network would halt, but one tremendous difference is that you know how to fix one and it's not clear how you would fix the other so if you had the miners that were being pressured, let's say by a friend in government, or they were double spending or for whatever reason they are holding transaction fees high, let's say the block size issue got to the point where it was absolutely critical and there was no ability to come up with an agreement. It's not clear how you solve that. You change the mining algorithm? Like that's the nuclear option? Nobody knows what you do. With the system on consensus it is clear what you do. You can, you can change the validators. The validators work at the pleasure of the users, the holders, the real stakeholders of the network.
25:33 DAVID SCHWARTZ: That, I think that is a fairly significant advantage once you realize how important governance is. And it's not just a handle of failure as Stefan pointed out there's going to be evolution of the system unless you think the systems are absolutely perfect today. Well bitcoin is already proven that there they're not absolutely perfect today. I can’t, I certainly wouldn't try to claim the Ripple is perfect today. We have a wish list of features too, limited by engineering time, but we have to get people to agree to implement those features and I think that's also an argument why you can't have one blockchain to rule them all. There are features that also have costs and every feature has a cost because if you have a public blockchain everybody that uses that public blockchain, at a minimum, when there's a new feature they have to do a security review and make sure that that feature doesn't create a vulnerability for them. So there's a fixed cost that's fairly high. There's a huge bug bounty on Bitcoin and on Ripple right? Billions of dollars if you could steal money on the system. So the cost to implement a feature is high. So if there's a feature that somebody really wants it would be really useful for them they're probably not going to get that's not enough to get any feature on the system, so you're going to have a diversified system of multiple block chains and multiple ledger systems of all kinds competing with each other for share. that's why I think InterLedger is important because InterLedger will permit people who use different block chains and different systems, for good reasons, to be able to make payments to each other quickly seamlessly and without the risk associated with little pays problem.
26:53 PATRICK GRIFFIN: hmm Maybe just a last question before we turn it over to the audience and you've mentioned InterLedger. Stefan is the creator of InterLedger or the chief architect of it. When you walk around the conference today, you'll see a lot of companies that have blockchain offering. So, sort of going back to 2014, now if you remember, the the terminology and the marketing was all about it's not about Bitcoin it's about the blockchain. And so now we have some sound perspective on that. What's your take on the fundamental premise of a de-centralized distributed database without a digital asset and what's the trade-offs in terms of functionality versus utility? What's your opinion given the architecture IOP.
27:42 STEFAN THOMAS: Well that's a question I could easily spend hours on, so let me try to summarize. So as you mentioned, my colleague Evan Schwartz and I, we we came up with this protocol InterLedger and that came out of actually in a couple of different work streams but one in particular I remember was I was trying to figure out how to make Ripple more scalable and I was thinking about a particular kind of scalability which is similar to what David just mentioned, which was scalability in terms of functionality not just in terms of how many transactions can you do per second. Like how do I serve very different use cases that have you know mutually conflicting trade-offs. So as I was thinking about that problem I was kind of saying well maybe you don't even have to keep that one set of global state. Maybe you can have state in different places and a lot of that is honestly just rediscovering database knowledge that we've had since the 70s. Now just looking at Jim Gray's papers and just oh yeah that works for blockchains too
28:41 STEFAN THOMAS: So we took those ideas and we combined them with ideas around from the internet from the internet background in terms of networking and the concept of internet working and so on. And so, when I look at these private blockchains type approaches I think they are doing the first of those two steps namely they're applying sort of modern data, modern database thinking or classical database thinking to blockchain but I don't think they're really applying the Internet thinking yet because they're if they're attempting to achieve interoperability just by homogeneity which does not give you that diversity of use cases and so if you want that you have to think about what are the simple stateless protocols they can actually tie these different systems together without dictating how they work internally. So I can have my private blockchains that has all these like special features and it works in this way and you can have your private box and it works in the other way but we can still talk through a neutral protocol and you know the way that we're thinking about InterLedger, we're not married to InterLedger being a thing like I'm completely happy if it's lightning or if it's something else but I think as an industry to agree on some kind of standard on that layer.
29:51 STEFAN THOMAS: I think one of the reasons that we can is because unlike a blockchain a standard is neutral you know there's no acid anyone's getting rich off of. There's no there's a lot less to agree on. The list of decisions you have to make is a lot shorter. You know my colleague Evan, he makes a point, a very good point about with InterLedger only like seven eight major decisions that you have to make in the architecture to really arrive at it and so I think we have really good reasons for each one of them and so we think that there will be a certain convergence on on one standard protocol for again not just blockchains, but like any kind of ledger.
30:26 DAVID SCHWARTZ: I just ant to add that InterLedger is completely neutral to how the ledger works internally. Any ledger that can support a very short list of very simple operations. Every banking ledger can perform those operations. Almost anything the tracks ownership of value of any kind is capable of confirming that value exists, putting that value on hold, transferring that value between two people and those are the only primitives that InterLedger builds on. It's just by the clever combination of those operations in a way that provides insurance that all of the stakeholders get out of the transaction the thing that they're supposed to get out and get back whatever they were going to put in if they don't get out what they're supposed to get out. It’s, it's astonishingly simple at the protocol level.
31:08 PATRICK GRIFFIN: Okay, with that I will turn it over to the room for questions and some Q&A Aany questions in the back?
QUESTION: Yeah, I’m kind of new to this and I just have some really basic questions. I read something recently where, Ripple was now the second most funded, or invested. Bitcoin was first, and Etherium was third. Can you tell me how you got to that position? You seem like you’re poking up about Bitcoin and how Ripple probably is more efficient and better. Then I had a second question - Where do I get a Ripple T-Shirt?
32:06 PATRICK GRIFFIN: The first question is how did, how did we get to this position we're in and does that generally capture the essence of that question and then Ripple t-shirts I'm not sure about that (Come work for us!) I will attempt to answer the first question and if you guys want to jump in. I think that is a function of one: Silicon Valley companies do one thing I think very well, they pick a lane and they go deep on it. For us, what we've been very very focused on it the use case. as a company we but we picked a long time ago to go deep on cross-border payments and in particular wholesale cross-border payments that’s financial institution to institution. It’s at the enterprise level and so when we look at digital assets today we think that there is a very very very use case around the consolidation of capital to fund payments overseas, which is exactly what we just demonstrated. Being able to transfer an asset from a server in one country to a server in another country and basically allow for payments companies to operate with much less capital deployed overseas. It's a, it's a quantifiable use case. Today there's 27 and a half trillion dollars in float in the banking system just wait sitting idly waiting for payments to arrive. That's compounded when you go to look at corporates and you look at payment service companies. So there's a very very very very very big number and I think that the recent traction that we've gotten has been an acknowledgement of the use case how it fits into our overall product offering. Ssome of the technical benefits of XRP itself and then when you look around, I mean I think that its head, you're hard-pressed to find another digital asset with as clearly articulated the use case that where the time horizon is now. I think there's lots of really exciting things going on in IOT and device-to-device payments and sort of the future some of things that I that Etherium people talk about for example, but it still feels like it's still at the horizon and I think this is being deployed today. There is a a path to commercial production and ultimately I think that's part of the reason why we're getting some traction.
34:18 DAVID SCHWARTZ: I think we also sort of crossed an important threshold. If an asset doesn't have value and it doesn't have liquidity you can't really use it even if it has the properties that are perfect for your use case simply because you can't you can't get enough of it without moving the market and I think we crossed a threshold (not the end) -
*use the link above to view the entire transcript.**
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Invest in Blockchain - Top 5 Cryptocurrency Projects To Watch In August 2018

The cryptocurrency market seems to have hurt its investors enough and is showing humble signs of recovery. This is great news for crypto enthusiasts, who can finally start thinking about buying into some new coins and maybe even about opening their Blockfolio app again.
To make life just a little easier, we’ve compiled a list of 5 projects to watch in August, either because they are having some big events coming up or because this easy-going last month of summer grants you some time to thoroughly research these high potential projects.
Remember to always do your own additional research.
  1. Elastos
Project Overview The goal of Elastos is to create a new internet, a smartweb powered by blockchain technology.
By leveraging blockchain technology, the project enables a safe and reliable internet in which devices and applications aren’t directly connected to the internet, but are connected to the internet via the Elastos smartweb.
By doing this, cybercriminals can not enter and corrupt devices directly, but they would have to compromise the Elastos framework which is heavily secured by both layers of traditional security software and a blockchain layer.
Elastos has been in development for about 16 years now, during which numerous approaches and technologies were trialed and tested. Blockchain technology turned out to be the missing piece of the puzzle and was implemented in 2017, after which the team conducted one of the most successful ICOs of 2018 so far.
The Elastos project is not easily understood as it has many highly technical features. The 4 pillars of the Elastos smartweb are:
The blockchain Runtime and virtual machine Carrier SDK These features combined allow for the “internet of the future” in which users can capitalize on their creations and contributions to the new internet while enjoying a secure and sheltered digital environment.
To learn more about Elastos, check out their whitepaper, website and our guide to Elastos.
Why You Should Watch Elastos Elastos has been regularly bringing out updates and showing progress. This will continue in August, with plenty of developments scheduled.
On August 1, 1,953,325 ELA coins bought in the private sale earlier this year are scheduled to be released. While it is hard to predict what this will do to the price of ELA, the coin release will likely cause some price action. The current circulating supply is only 5,330,077, so 40% of the total supply will be added.
The biggest event for Elastos in August is the release of the code for their framework for mobile web applications. This will make the project (partly) open-source, which us decentralization enthusiasts like to see.
The code release will enable anyone to see what’s really going on under the hood of the project that is trying to create the new internet. Moreover, Elastos enthusiasts will have clearer guidelines and resources to start creating web applications for the Elastos smartweb.
The team is also planning to redesign their website in order to give visitors all the tools they need to understand and get involved in the project. This website redesign is part of a planned longer term rebranding, aimed to increase project awareness.
As part of the project’s 1 year crypto anniversary, the team decided to have a good old bonfire and burn ELA tokens — 453,416 to be precise. Given that the total supply of ELA is already on the lower end, this coin burn can lead to some positive price action.
The actual burning is scheduled to take place between August 24 and 27.
Click here for the full release and burn schedule of ELA.
  1. IOST
Project Overview One of the biggest current issues with the blockchain industry is scalability.
Slow throughput and exorbitant transaction fees have been serious barriers to mainstream adoption, something that the IOST team understands and is trying to solve. They believe that existing consensus models and the architecture of most blockchains are the root causes of existing scalability issues.
To solve this, the project has designed a unique, highly complex architectural blockchain design made up of 5 key innovations:
Proof-of-Believability consensus protocol Efficient distributed sharding TransEpoch Atomix Micro State Block These are not the easiest concepts to explain and to understand them all, I recommend visiting this page and checking out these materials.
What it comes down to is that IOST has achieved a high transaction per second throughput while remaining secure and decentralized, something which is an achievement in itself.
The IOST platform is designed to be the foundation of the IOST ecosystem, on which dapps and smart contracts can be built in several of the most popular programming languages. The platform also provides data storage services and has an impressive network of partners, investors and advisors.
Why You Should Watch IOST Even though the project is relatively new on the block, it has already launched its public testnet on July 3. This testnet reached an impressive 7000-8000 transactions per second and provided evidence for the functionality of the innovative components of IOST’s blockchain design such as its Proof-of-Believability consensus algorithm.
Following the successful launch of the testnet, the team has hinted at the release of its first dapps, with IOST co-founder Jimmy Zhong posting on Twitter about the imminent launch of a decentralized information/news distribution protocol and recent coverage in Korea on the first game to be deployed on the IOST network, Crypto Heroes.
These releases could be perfectly timed to catch a rising market, and solidify IOST as a competitor in the platform coin sphere.
Initially, the mainnet was scheduled to launch mid-2019, but IOST co-founder Jimmy Zhong indicated that the launch will likely take place end 2018 or early 2019, which is a very positive sign in an industry plagued by delays and extended deadlines.
  1. Bytecoin
Project Overview Bytecoin is a cryptocurrency that focuses heaviliy on 2 popular principles in the digital world: privacy and security. The digital asset can be used as a value of exchange and has a strong focus on anonymity, allowing transactions to be truly private and untraceable by third parties.
This privacy is enabled by the implementation of ring signatures, a process which demands several private keys instead of one of two, making the transactions untraceable to a single network member.
Bytecoin is one of the first projects to do this successfully but has nevertheless been flying under the radar.
Additionally, Bytecoin makes use of a cryptographic protocol called Cryptonote, which is the foundational layer of Bytcoin’s network and is another technique for ensuring anonymity.
The cryptocurrency also employs its own version of Proof-of-Work (LINK), namely Egalitarian Proof-of-Work. This consensus algorithm is similar to that of Bitcoin; however, it has benefits over traditional Proof-of-Work in terms of a fair and more decentralized mining distribution scheme.
Why You Should Watch Bytecoin Bytecoin has 2 big events in August: the release of its public testnet and a planned hard fork.
The public testnet will be released on August 17, after which users of the network can start analyzing the testnet’s performance. The testnet will allow any interested party in Bytecoin, such as retailers, merchants and investors, to scrutinize the project, start using the new code of the Bytecoin and perform test transactions on the testnet.
This testnet is a preparatory stage for the hard fork phase, after which the team is expecting large adoption cycles.
This hard fork will occur on August 31. The team has announced that this hard fork will include several minor yet valuable modifications to the Bytecoin protocol.
The main feature included in this release is the option to set dynamic transaction fees, which is an extremely valuable addition to the cryptocurrency according to the team because it can increase miner rewards and create a market price for transactions.
  1. High Performance Blockchain
Project Overview This Chinese project is claiming it can solve the industry’s scalability problems with its High Performance Blockchain. The team provides both a hardware and software solution to make blockchains faster and cheaper, giving the project a unique touch as it is one of the few blockchain projects that also focuses on the hardware side.
The High Performance Blockchain team is building hardware accelerator chip drivers. These chips can be highly customized and provide hardware acceleration support for public chains that get stuck on scalability, making them faster. These chips are built to ultimately power entire blockchain ecosystems. However, how far the team is with the development of these chips is unclear at the moment.
This is not the only thing that is unclear about the project, as the functionality of its native HPB token is still rather vague.
That being said, the project shows a lot of potential, if it can deliver on its promises, such as the accelerator chips and the claim to enable 1 million transactions per second once the mainnet is launched.
This would solve the current scalability problems and make HPB one of the fastest platform blockchains in the industry, which will in turn attract developers and users to its ecosystem.
Why You Should Watch HPB The HPB mainnet was scheduled to launch in Q2 of this year. However, the launch was delayed which caused a serious crash in the price of this otherwise rather stable cryptocurrency.
The mainnet release is now scheduled for August 28, yet this expectation has given no boost to HPB’s suffering token price.
The final version of the mainnet is expected to launch in 2019, making the to-be-launched version really a limited mainnet. However, their hardware integration and claimed 1 million tps is impressive, and the development will need time.
Even though the team has missed a serious deadline and is not crystal clear on all developments, HPB still is an interesting project as the NEO Doundation is an angel investor, signalling that there is serious work being conducted behind the scenes.
Moreover, founder Wang Xiao Ming is a renowned blockchain figure in China, having written 3 books on the technology.
  1. DeepBrainChain
Project Overview The NEO-based DeepBrainChain (DBC) project is trying to create a decentralized marketplace for Artificial Intelligence applications and solutions.
DBC is essentially a computing platform created to support the creation and trade of AI algorithms. Barriers to entry of the AI market are incredibly high because of the high R&D costs involved, making AI production only profitable for the capital rich companies.
DBC is trying to reduce the computational cost of AI by 70%, allowing many more businesses to enter the promising and emerging AI industry.
The platform itself will become a decentralized neural network in which interested, hardware heavy users become nodes that supply the computational for AI processing. In return for their contributions, nodes are awarded DBC tokens.
Besides hosting computations, the DBC platform is also designed to host a secure AI-related data trading platform.
Why You Should Watch DBC Last June, DBC announced the release of their Skynet project, which is designed to let AI take over the world and enslave humankind. Just kidding.
DBC’s Skynet project is actually launched to recruit AI computing power suppliers globally to fuel the foundation of the mainnet. For joining the DBC network at this stage, suppliers were promised several early adopter perks.
Following the Skynet project, DBC announced that their AI Training Net will go live on August 8. This training net is one of the envisioned core functions of the DBC platform. It is both a method for consolidating computing resources and a matchmaking protocol for computing power providers and parties that require additional computing power.
By using the AI Training Net, parties can find suppliers of computational power that meet their demands in terms of power needed to train AI algorithms.
Because of the decentralized nature and high efficiency of the AI Training Net, the DBC platform is able to offer computational power at a much lower cost than is the current industry standard.
The release of the training net is one of the biggest milestones for DBC thus far and will signify whether there is a real world demand for the DBC platform. source of content - https://www.investinblockchain.com/cryptocurrency-projects-august-2018/
submitted by arvind1111 to altcoin_news [link] [comments]

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