First Mover: Binance CEO Sees Future in DeFi While Bitcoin ...

Brief Comments on Goguen: Q4 2020, Q1 2021, utility, Marlowe, DSL, Glow, Plutus, IELE, smart contracts, thanksgiving to you, sidechains and Hydra, Goguen rollout and additions to product update

Smart contracts (origins in 80s, 90s vs. 2013 ETH and 2020s Cardano)
We had a pretty interesting product update. We laughed, we cried, we all learned a little bit. Two and a half hours lots of stuff and I hope this gives you guys a good window into all the things that are happening. There's an enormous amount of complexity in Cardano and Goguen is no different. In fact that one slide showing all the interlocking dependencies and the moving pieces for it and just the sheer volume of things that are going on is, is an indication of not only the quality of the team but also the commercial reality of being a smart contract platform. In 2020 when I co-founded Ethereum our reference material was paper. We looked at things that Nick Szabo and people from the 1990s and 1980s wrote about and whether you were a Ricardian contract fan or you had programmed in Eiffel or you understood things like FpML basically it was an open field which gave us kind of a freedom to just do whatever we wanted to do but it also didn't give us a commercial reality of who's going to buy it? Who's going to use it? What do you need to do? The expectations in 2020 are vastly different from the expectations in 2013 and the reality is that there are massive deficits with Ethereum as designed today which is why Tezos exists and Algorand exists and why ETH2 is being constructed . It's why there are so many different players from Polkadot and others on down who have deep and detailed opinions about the things we need to do. If the ICO revolution hadn't happened, there was no notion of an ERC20 token and we were in a just different world.
We didn't have DeFi, any of these things and now in 2020 if you are to be competitive and build great things and actually invite real use and utility at a scale of millions and billions of people or government or Fortune 500 you need to have real good answers about a lot of different threats and things. For example, Marlowe, what it does is it leverages 20 years of history from domain experts like Willi Brammertz and over 30 years of history in domain-specific language (DSL) design from professor Simon Thompson and his team and it puts them together. It says for the first time ever we're going to have semantical clarity between the entrepreneur, the developer, the writer and the financial services infrastructure whether that be the banker, the insurance agent, the exchange, whoever that might be. Up until the totality of human history till today we have never had that semantical clarity. All four of those actors speak different languages and what we're doing with Marlowe as a DSL is an example of how you can unify and create a common language and experience between all of them today.
Marlowe, DSL, Glow, Plutus, IELE
Right now, you guys can go to the Marlowe playground and you can start using it and start building things and start having that semantical clarity and work with us and over a period of six months or so that will continue to evolve. Templates will evolve, applications will be constructed and those applications will work their way into Cardano applications and eventually they'll become cross-platform and work on things like (Hyperledger) fabric and other such things as we see industry and commercial adoption but it requires a starting point and Marlowe has evolved over a four year period through the hard labors of so many people to actually give us a great starting point. You can visually look at contracts and talk about their design. You can write them in JavaScript, you can write them in the Marlowe programming language. There's a Haskell side to things and you can see the power of this approach because of its design. You can prove things are correct, you can use theory that has existed for over 40 years like SAT solvers and reachability to actually show that you're not going to have a parity bug and that's just one example of one DSL of which many more will come. The point of DSLs is to give clarity to people in the industry. For example if we get into the health business and we start talking about medical records that will become a DSL to broker their movement and that same clarity and semantical unification will occur between doctors and hospitals, patients, governments, regulators and business professionals and they will now have a common language. So, Marlowe is an entry point and it's an example of how to build a DSL and evolve a DSL and bring the right people to the table.
When we look to things like Glow, from MuKn, this is an example of a team that's highly motivated and intrinsically across blockchain. When we look to the future and we say what happens when Bitcoin gets smart contracts? What happens when ETH2 comes out? What happens when people want to build cross-blockchain applications? Wouldn't it be nice to have a unification language and that's what Glow is basically all about. By strategic investments in that ecosystem, what Glow does for us is it ensures that we won't be left behind that Cardano has that and all Cardano infrastructure can benefit from that and Glow in turn will benefit from its embedding in our ecosystem. More users, more technology and ultimately because Cardano's the best. If you deploy in that direction it's the best experience. When you look to Plutus, Plutus is the unification language, it's the conductor of the orchestra and it pulls all of these things together and there were a lot of design requirements with Plutus that were quite hard from a theory viewpoint. We really cared a lot about resource determinism. We wanted to make sure that it was always predictable or at least as predictable as it can be to know how much it costs to do things because at the end of the day this is not a science experiment. These are not toys back in 2013. We had the luxury with Ethereum of just seeing what happened and the market makes strategic investments and they have to know how much their operating cost is going to be for their business model. We designed Plutus so that it would be one of the best programming languages on a long arc agenda of being a very practical on and off chain language to unify all the Cardano ecosystem. There are many objects in the ecosystem to operate, manipulate, instruments of value like native assets, identity, smart contracts onto themselves, DAOs, off chain infrastructure and you need a conductor that's capable of living in between all of these things and you need certainty that the code you're writing is going to work.
This is why we based it on an ecosystem that has 35 years of history and we as a company have invested millions of dollars in that ecosystem to modernize it and bring it into the 21st century especially for things like Windows support and working with partners like Tweag WebAssembly support, working on projects like compilation to JavaScript so that we can share that's there and our commitment is going to continue beyond that we are a founding member of the Haskell foundation working with Simon Peyton Jones and we're going to ensure that Haskell has compilation to ARM and that all of the technology that's required to keep that language competitive and actually make the language even more competitive will happen. It's very nice that Plutus is deeply ingrained in that ecosystem and that makes it a perfect conductor language. In the coming months we're going to talk a lot more about our relationship decay in IELE. If you live in the imperative object-oriented world and you want to do things a bit differently than the way things are done in the Haskell functional world then it makes sense to have an option that has the same principles as us which is why we reached out to Grigore years ago and established a commercial relationship with him. It's been the privilege of my career finding a way to resurrect that relationship so in the coming months we're going to talk a lot about how IELE fits into the Cardano ecosystem and the value it's going to bring in addition to the value of Marlowe, Glow, and Plutus.
Native assets
One of the single most important things about all of this is the native asset standard. One of the things we did not anticipate when we created Ethereum is just how pervasive the user's ability to issue an asset would be. We figured this would be an important thing, it's why we put it on a T-shirt back in the Miami conference in January of 2014 and we realized that from the color coin's project in the master coin project and one of the most important things is that we have the ability to issue not just a utility token but non-functional assets, security tokens and a litany of other instruments that hold value. Some ephemeral, some permanent, some with flexible monetary policies, some with fixed monetary policies, some from a central issuer, some from a decentralized issuer, some managed by a foundation, some managed by the community, some managed by fixed code that's immutable and the point of the native asset standard in the ERC20 converter is to establish a co-evolution of the technology and the commercialization of the technology. What we've been doing with ERC20 converter is using that as a way to create a conversation with those who want to migrate or build on Cardano and thinking through how are we going to create practical standards with our native assets. We already have enormous advantages with this standard over Ethereum. In particular the fact that your assets you issue on Cardano are treated the way that ADA is treated whereas in Ethereum you're a second-class citizen or ETH is treated differently from smart contracts. This first class citizen approach means that your assets will have the same governance access layer, to portfolio access and infrastructure that ADA itself has. Easier listing experiences, easier time with hardware wallets, easier time with wallet software. In general better user experience, faster transactions, lower transaction costs and then eventually for higher value tokens even the possibility of paying transaction fees over the long term in the native asset itself as if you were your own cryptocurrency.
Goguen rollout
You just simply cannot do this with the design of Ethereum and Ethereum 2. It's a huge advantage we have in our ecosystem and it's one that will become more pervasive over time now Goguen has already started. As a launch agenda the very first update to enable some Goguen era functionality was the metadata standard which meant that you could go from just moving ADA around to actually a whole litany of applications in the identity space and in the metadata space some of which we're aggressively negotiating on in commercial deals which we'll announce at a later date. The rollout of Goguen in terms of the system as we mentioned in the presentation will be principally done for the first iteration over a series of three hard fork combinator (HFC) events. The first of which is beginning this year in November December time frame and that's going to lay a lot of the foundations that will enable us to get to the second hard fork combinator event which will occur in Q1 of next year and we'll announce that specific date likely at the next product update and then the third one will happen shortly thereafter. They have to be spaced this way because it's just simply too cumbersome on our developers and also our partners such as wallet infrastructure and exchanges to try to do too much too quickly and furthermore there's an enormous amount of work as you've noticed on that slide to roll out Goguen. You have to do two things at once, you have to deploy the infrastructure but then you also have to populate the infrastructure and what's nice about the way that we've done things as you now see with the Marlowe playground the population of that infrastructure is occurring now today and with the ERC20 converter and the mint test net that's coming.
That's going to occur in November which means that that gives people time to start building and playing on our ecosystem in a safe sandbox so that when they deploy it to the mainnet they do it right the first time and they don't make an existential failure as we have seen with the DeFi space because at the end of the day once you go live you have a huge adversarial surface and everybody in the world is going to try to break the things you've done. It's very important that you do it right which means that you need time as a commercial partner and an application deployer to do it correctly. Parts of Goguen are indeed shipping this year, some have already shipped and we'll have another HFC event at the end of next month or early in December and throughout the first quarter of next year and likely the second quarter will complete the other two HFC events which will roll out full support for native assets, extended UTxO, the Plutus infrastructure and the Marlowe infrastructure. In the meantime we're also working on strategies about how we can ensure best integration of Glow and IELE into the Cardano ecosystem and as you've noticed there are three parallel teams that are working very hard. The Shelley team continues to upgrade the Shelley experience. Just today we've received a lot of concerns over for example the state pool ranking in Daedalus. Let me be very clear about something. There's no problem with the ranking software, the problem is the k parameter. It needs to be increased and the fact that things are getting grayed out is an indication that the ranking parameter is actually working right for the first time. So, k needs to go up but there are consequences of that and we need to improve the software to reflect those consequences but it is my goal to get k to 1000 before ideally d hits 0 because we really do want to have over a 1000 well-functioning stake pools but by no means is that the end of the story.
Improvements + project Catalyst
We need partial delegation and delegation portfolios. We need means for stake pool operators to communicate effectively and efficiently with those who delegate to them. We need improvements in SMASH. We need an identity center, we need a litany of improvements to Daedalus itself. Right now, today, there are more than four companies working full-time at doing just these things in addition to the Goguen updates that are occurring right now. That research thread and that development thread will continue. We've already seen seven CIPs including CIPs related to the reward function. We take them very seriously, we review them and there's enormous amount of discussion about how to create a fair and balanced system and we appreciate this feedback. It's a process and we ask for patience and we also remind people that we launched Shelley just at the end of July and despite that the ecosystem has more than doubled in size and it's been growing at an incredible pace and it's only going to continue and we're only going to see our best days ahead of us. Good things are coming down the pipe and it's becoming a much more holistic ecosystem from in performance improvements, to usability improvements, to better overall software for everyone.
There's no greater example of that than what we've been able to accomplish in the last three months for the exchanges in general. We're really proud of what we've done with the Adrestia stack and we're really proud of working with great partners like Binance and Bittrex throughout the last few months and we've had some certain challenges there but as a result of overcoming those challenges we have left behind an incredible enterprise grade listening experience that continues to get faster, continues to get higher quality and is secure and reliable 24 hours a day, seven days a week and we'll continue investing heavily to ensure that that only gets better for all of those partners whether they be an external wallet or their infrastructure like an exchange operator. We've had a lot of wins also on the governance side with the Voltaire Catalyst project. We have seen huge wins in participation going from small focus groups to now over 3500 people every single day coming into cardano.ideascale.com competing for 2250000 worth of ADA with fund2. That's just the beginning and every six to eight weeks that's going to increase in scale, in terms of the money and people, the quality... When we ask what is our developer acquisition strategy that's a major part of it because people know that there's money to be made in building on Cardano and that you have the right incentives to go realize your dreams and add value so just as these frameworks like the Marlowe playground and the Plutus playground and other such things like Glow come online and IELE come online the ability to build will be matched by the ability to discuss what to build and fund? What to build through a community driven process that includes greater and greater inclusivity. For example the next fund will include a voting center built right into Daedalus in addition to the cell phone application that we've already launched to vote and we will continue refining that experience relentlessly that's one of our fastest moving teams and I will remind you we are doing this in parallel to the Shelley workstream and the Goguen workstream that we showed you guys today. Finally there's Basho, not the next hard fork combinator event but HFC#3 which we anticipate in Q1 2021.
Sidechains, Hydra
I would like to include a sidechain protocol that allows the movement of value between independent systems through some form of blocking mechanism. We are currently examining and designing a protocol that we think fits very nicely into the way that our system works with mild modifications to the ledger rules. If that and should this be successful then that helps with one of the pillars of Basho interoperability and then the other pillar is scalability. Rob is hard at work working with technical architects and scaling up a team to start de-risking the Hydra protocol and others are hard at work evolving the science behind the Hydra protocol. We have seen great progress on all fronts to de-risk Hydra's roll-out and what's so beautiful about Hydra is it is our belief that the majority if not all of Hydra can be implemented in Plutus. As Plutus rolls out we have a natural constituency to run this infrastructure. The stake pool operators and we have a natural way without an HFC event or special accommodation of rolling out Hydra.
It's not really needed at this level of scaling capacity. We have an enormous throughput already 10 times greater than Ethereum as it is today and room to make it a hundred times greater than what Ethereum is today without Hydra. However as we de-risk this infrastructure solidify the protocols and get out all the kinks. What's so beautiful about it is that we will be able to when the time comes the community can roll out multiple implementations of Hydra so that there is diversity and there will be a natural group of actors to run those channels as we have seen for example with the Bolt spec and the Lightning ecosystem on Bitcoin. The contrasting difference between Lightning and Bitcoin and Hydra and extended UTxO and Cardano is we designed Cardano for Hydra.
Bitcoin was not designed for Lightning and as a consequence it's always more difficult for them to try to make meaningful progress whereas us there's no friction in that relationship. It just fits very nicely through so the roadmap is coming together and Cardano 2020 has definitely started to evolve into quite a mature ecosystem and what's really exciting is we're going from an ecosystem of potential to one of reality and instead of asking what could we do we're showing people what has been done and people are actually doing things every day.
Our commercial team is inundated with requests for coordination and cooperation and deployment. I get numerous emails every single day, well intended to very serious about people wanting to build on the platform and we're really excited about that. We're going to keep this steady systematic relentless march as you saw with the enormity of the news today. It's business as usual and it'll be exactly the same in November only there'll be more and every month. The velocity increases, we burn down the remaining story points to get these things done and things are happening very quickly and we just keep releasing and releasing and releasing and it's a very different time than it was even six months ago.
Community rules
What's so reassuring is we continue to have the best community in all the cryptocurrency space. It's the final point but it's one that I'm most proud of. You see people get to decide where they want to live, what infrastructure they want to deploy, on who they want to work with and when you have a welcoming warm and friendly community that is constructive and productive and their job is to help you get to where you need to go you want to work with those people. When you have a destructive or toxic community that's exclusive hierarchical and not invented here in their mentality people don't want to work with that community. Money can't buy that. I don't care if you have a bank account with four billion dollars or you're a central bank. You can't buy character and you can't buy culture, you have to make it and you have to earn it and if we've accomplished anything over these last five years from the 90 papers now and the million plus lines of code and the incredible releases that have happened and continue to happen we accomplished the greatest thing of all: we built a community to rival that of bitcoin's. I believe with that community we can realize the dream in the coming years of Cardano becoming the financial operating system.
For those who don't have one and giving open prayer and free economic identity to those who need it I am astounded by just how easy it is to roll these things out. They're super hard and complex under the hood but they just feel right and fit right and all the pieces are starting to come together in just the right way and I'm astounded by the fact that when we roll them out community members are there to receive them and take them to the next level.
Thank you all for attending the product update at the end of the month. This was a real good one, just as good as the Shelley one and we are now in the Goguen era with the first HFC event coming in the end of November and we're going to keep pushing them out. Every single one of them will add more capabilities and I encourage everyone to check out the Marlowe playground start building with it. Today things are happening really fast when the mint comes online at the end of November. Start playing around with that, start talking about the multi-token standard. If you're interested in a project our commercial division divisions always' open and you're going to see more and more progress from all entities in this ecosystem and some potentially major announcements before you can think it. Thanks guys it was a good day and thanks to the entire team that made all this happen I'm real proud of all of you.
Video: https://www.youtube.com/watch?v=l5wADba8kCw
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I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? Down -79%

I bought $1k of the Top Ten Cryptos on January 1st, 2018. Result? Down -79%

EXPERIMENT - Tracking Top 10 Cryptos of 2018 - Month Twenty-Nine - Down -79%
See the full blog post with all the tables here.
tl;dr - Cardano wins May, BTC still way ahead, ETH solidly in second place, NEM (anyone still remember NEM?) still in basement. Markets going up despite world on fire. 3 x $1k investments in crypto in 2018, 2019, 2020 are down -7% compared to the US stock market. Word.

Month Twenty-Nine – Down 79%

While not quite as strong as April, May was undeniably a strong month overall, especially with the last minute push that saw Bitcoin climb over the $10k mark. Although BTC (and the market overall) has fallen in the last few days while I’ve been compiling these updates, we saw almost every 2018 Top Ten crypto end the month of May higher than where it started.

Question of the month:

The Bitcoin halving took place on May 11th, 2020 at 7:23 PM UTC. Since the first Bitcoin block was generated in 2009, how many halving events have occurred?
A) One B) Three C) Five D) None of the above
Scroll down for the answer.

Ranking and May Winners and Losers

Half of our 2018 Top Ten group were on the move in May. Cardano made the most upward progress, climbing two positions to #11. IOTA picked up rose one spot in the standings to #24 as well. On the other side, NEM keeps slipping, losing three spots to #30. Dash and Stellar also dropped two positions each in May.
The overall drop out rate remains at the 50% mark (meaning half of the cryptos that started 2018 in the Top Ten have dropped out). NEM, Dash, IOTA, Cardano, and Stellar have been replaced by EOS, Binance Coin, Tezos, Tether, and BSV.
May Winners – Massive month for ADA, up an impressive +62%. That’s about what Cardano gained last month, so, yeah, Cardano is having a great spring. IOTA also had a solid month, up +28%.
May LosersXRP lost about -4% making it the worst performing of this group in May.
How has your favorite crypto fared over the first 29 months of the 2018 Top Ten Crypto Index Fund Experiment? Most monthly wins (7): Bitcoin. Most monthly losses (5) is a now tie between Stellar and NEM. All cryptos have at least one monthly win and Bitcoin stands alone as the only crypto that hasn’t lost a month (although it came close in January 2020 when it gained “only” +31%).

Overall update – BTC still way ahead, ETH firmly in second place, NEM worst performing.

Bitcoin made up more ground in May, now down -23% since January 2018. The last time we saw this price level to end a month was August 2019. The initial $100 investment is now worth about $77.
BTC is still well ahead of the field and Ethereum is firmly in second place. This may feel like a foregone conclusion at this point, but for context, long time 2018 Top Ten Experiment followers will note that this has not always been the case. Just a little over a year ago for example, BTC was second place behind Stellar.
NEM (down -95%) is in last place. That initial $100 investment in NEM? Now worth $4.74.

Total Market Cap for the entire cryptocurrency sector:

The overall crypto market added about $35B in May 2020, back near August 2019 levels. This is down about half from January 2018 when the market was worth roughly $575B.

Bitcoin dominance:

Another flat month for Bitcoin dominance, which hasn’t moved at all in the last three months.
For context, the range since the beginning of the experiment in January 2018 has been wide: a high of 70% BitDom in September 2019 and a low of 33% BitDom in February 2018.

Overall return on investment since January 1st, 2018:

The 2018 Top Ten Portfolio gained about $20 bucks in May 2020, back near where it was at the end of February. If I cashed out today, my $1000 initial investment would return about $205, down -79% from January 2018.
Here’s the ROI over the life of the experiment, month by month:
The streak of nine consecutive months down at least -80% was finally broken in May. Just barely (at -79%), but hey, I’ll take it. July 2019 was the last time the 2018 Top Ten finished a month in the negative seventies. What about the negative sixties? That level hasn’t been seen in about two years.
Painful stuff. What about the follow on Experiments? Let’s see:
So overall? Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my portfolios are worth $3,104‬.
That’s up about +3.5% for the combined portfolios. Better than a few months ago (aka the zombie apocalypse) where it was down -24%, but not yet back at January (+13%) or February (+6%) levels.

Comparison to S&P 500:

I’m also tracking the S&P 500 as part of the experiment to have a comparison point with other popular investments options. The stock market (as measured by the S&P) continued to recover in May. It’s pretty amazing with all that’s going on in the world, but the market is already back up where it was in February 2020. The initial $1k investment into crypto on New Year’s Day 2018 would have gained about $140 had it been redirected to the S&P.
This is where it gets interesting. Taking the same drop-$1,000-per-year-on-January-1st approach with the S&P 500 that I’ve been documenting through the Top Ten Crypto Experiments would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018: +$140
  • $1000 investment in S&P 500 on January 1st, 2019: +$220
  • $1000 investment in S&P 500 on January 1st, 2020: -$50
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,310.
That is up over+10% since January 2018, compared to the $3,104 value (+3.5%) of the combined Top Ten Crypto Experiment Portfolios.
That’s about a 7% difference in favor of the stock market. Last month, there was only a 3% difference. The month before, the gap was 13%.

Implications/Observations:

No news here: the 2018 Experiment’s focus of solely holding the Top Ten Cryptos has not and has never been a winning approach when compared to the overall market. The total market cap is down -51% from January 2018 compared to the -79% for the cryptos that began 2018 in the Top Ten. This of course implies that I would have done a bit better if I’d picked different cryptos – but much better than if I’d put all my eggs in NEM‘s -95% basket, for example. To reiterate, at no point in this experiment has this investment strategy been successful: the initial 2018 Top Ten have under-performed each of the twenty-nine months compared to the market overall.
In the following two Top Ten experiments, it’s a slightly different story. There are a few examples of this approach outperforming the overall market in the parallel 2019 Top Ten Crypto Experiment. For the most recent 2020 group, this approach had outperformed the overall market 100% of the time…until this month.

Conclusion:

The Bitcoin halving turned out to be a non event and markets continue to steadily rise despite riots in the US and a global pandemic. We’re almost half way through a very strange year. As the world changes, what will crypto’s place be in the new normal?
Final word: Please take care of yourselves, your families, and your communities. Be excellent to each other.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for my parallel projects where I repeat the experiment twice, purchasing another $1000 ($100 each) of two new sets of Top Ten cryptos as of January 1st, 2019 then again on January 1st, 2020.

And the Answer is…

B) Three
Bitcoin’s third halving event took place May 2020.
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Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

Repeated Experiment: I bought $1k of Top10 Cryptos on 01/01/2019. Result? UP +43%

Repeated Experiment: I bought $1k of Top10 Cryptos on 01/01/2019. Result? UP +43%

EXPERIMENT - Tracking 2019 Top Ten Cryptocurrencies – Month Seventeen - UP 43%

Full blog post with all the tables here.

tl;dr - This is the 17th monthly update on the 2019 Top Ten Experiment. Ethereum up the most in May, plus got a shout out from J.K. Rowling, so it obviously won the month. Overall, BTC in first place since January 2019, BSV in second place. Half of the 2019 Top Ten Portfolio is up at least +50%. XRP is worst performing. Total $3k (3 x $1k) investments the 2018, 2019, and 2020 Top Ten are up +3.5%, but similar approach with US stocks market would have yielded +10%.

The Experiment:

Instead of hypothetically tracking cryptos, I made an actual $1000 investment, $100 in each of the Top 10 cryptocurrencies by market cap on the 1st of January 2018. The result? The 2018 Top Ten portfolio ended 2018 down 85%, my $1000 worth only $150. I then repeated the experiment on the 1st of January 2019 with the new 2019 Top Ten cryptos, then again in 2020.
Think of the Top Ten Experiments as a lazy man’s Index Fund (no weighting or rebalancing), less technical, but hopefully still a proxy for the market as a whole – or at the very least an interesting snapshot of the 2018, 2019, and 2020 crypto space. I am trying to keep this project simple and accessible for beginners and those looking to get into crypto but maybe not quite ready to jump in yet. I try not to take sides or analyze, but rather attempt to report in a detached manner letting the numbers speak for themselves.
This is not investing advice – as a matter of fact, the vast majority of the reports will show that the Top Ten approach under performs other strategies. This experiment is designed to be documentary in nature, describing a specific period in cryptocurrency history.

The Rules:

Buy $100 of each the Top 10 cryptocurrencies on January 1st, 2018, 2019, and 2020. Hold only. No selling. No trading. Report monthly.

Month Seventeen – UP 43%

Unlike April’s all green month, May was more mixed. That said, the gains outweighed the losses this month in the 2019 Top Ten Portfolio.

Question of the month:

In May, Reddit launched two Ethereum-based tokens on the Cryptocurrency and FortNiteBR subreddits. What are the Cryptocurrency token called?
A) Moons
B) Bricks
C) Satoshis
D) Cryptos
Scroll down for the answer.

Ranking and March Winners and Losers

Besides Stellar (down two spots to #13) and Tron (down one from #16 to #17) every other crypto was locked in place.
Speaking of Stellar and Tron, they are still the only two cryptos to have dropped out of the 2019 Top Ten since January 1st, 2019. They have been replaced by Binance Coin and Tezos.
May WinnersEthereum ended the month up +16% and got a shout out from J.K. Rowling, so it obviously won May. BTC came in a close second this month, up +14%.
May Losers – A tight battle for the basement this month with BSV (down -3.9%) edging out XRP (down -3.7%) for the bottom spot.
For nerds those keeping score, here is tally of which coins have the most monthly wins and loses during the first seventeen months of the 2019 Top Ten Experiment: Tether is still in the lead with five monthly victories followed by BSV in second place with three. BSV also holds the most monthly losses, finishing last in six out of seventeen months.

Overall update – BTC increases lead over second place BSV, XRP still worst performing

Ahead until just last month, BSV lost a lot of ground to BTC in May. Bitcoin is now up +168% since January 2019 compared to BSV‘s +116% gain. That initial $100 investment in BTC? Now worth $273.
As was the case last month, 50% of the 2019 Top Ten cryptos are up at least +50% since the beginning of the experiment.
At the other end, XRP continues to struggle, now down -41% since January 2019.

Total Market Cap for the entire cryptocurrency sector:

The overall crypto market added about $35B in May, and is now near August 2019 levels. It is up +123% since January 2019.

Bitcoin dominance:

BitDom was steady again in May. This marks the third straight month it’s been stuck at around 65% For context, the range since the beginning of the experiment in January 2019 has been between 50%-70%.

Overall return on investment since January 1st, 2019:

The 2019 Top Ten Portfolio gained about $65 in May. After the initial $1000 investment, the 2019 group of cryptos is worth $1,431, up about +43%.
Here’s a look at the ROI over the life of the first seventeen months of the experiment, month by month:
Almost completely green for the 2019 Top Ten, a welcome change from the all red table you’ll see in the 2018 experiment. As you can see, every month except the first month ends in positive territory. At the lowest point, the 2019 Top Ten portfolio was down -9%, at the highest point, up +114% (May 2019).
How does the 2019 Top Ten Experiment compare to the parallel projects?
Taking the three portfolios together, here’s the bottom bottom bottom line:
After a $3000 investment in the 2018, 2019, and 2020 Top Ten Cryptocurrencies, my portfolios are worth $3,104‬.
That’s up about +3.5% for the combined portfolios. Better than a few months ago (aka the zombie apocalypse) where it was down -24%, but not yet back at January (+13%) or February (+6%) levels.
How does this compare to traditional markets?

How does the 2019 Top Ten portfolio compare US stock market?

Excellent question, I’m glad you asked. And you’re in luck, I’m also tracking the S&P 500 as part of my experiment to have a comparison point with other popular investments options. Despite the fact that the world seemed to be on fire, May 2020 saw the continued rebound of the stock market. It’s now up +22% since the start of the 2019 Experiment.
As a reminder (or just scroll up) the 2019 Top Ten portfolio is returning +43% over the same time period, which is about double the S&P 500.
The initial $1k investment I put into crypto would be worth $1,220 had it been redirected to the S&P 500 in January 2019.
But what if I took the same world’s-slowest-dollar-cost-averaging/$1,000-per-year-in-January approach with the S&P 500? It would yield the following:
  • $1000 investment in S&P 500 on January 1st, 2018: +$140
  • $1000 investment in S&P 500 on January 1st, 2019: +$220
  • $1000 investment in S&P 500 on January 1st, 2020: -$50
Taken together, here’s the bottom bottom bottom line for a similar approach with the S&P:
After three $1,000 investments into an S&P 500 index fund in January 2018, 2019, and 2020, my portfolio would be worth $3,310.
That $3,310 is up over+10% since January 2018, compared to the $3,104 value (+3.5%) of the combined Top Ten Crypto Experiment Portfolios.
That’s about a 7% difference in favor of the stock market. Last month, there was only a 3% difference, the month before, the gap was 13% (all in favor of the stock market).

Implications/Observations:

The difference between the 2019 Top Ten crypto group and the overall crypto market is stark. Since January 2019, the overall market has gained +123% compared to the 2019 Top Ten crypto group which has gained +43%. This is an absolutely massive 80% gap. A +43% return is solid compared to the stock market, but it also implies that an investor would have done much better picking different cryptos or investing in the entire market instead of focusing only on the Top Ten. There are a few examples of this approach outperforming the overall market in this 2019 Top Ten Crypto Experiment, but the cases are few and far between.
The 2018 Top Ten portfolio, on the other hand, has never outperformed the overall market, at least not in the first twenty-nine months of that Experiment.
For the most recent 2020 Top Ten group, the opposite had been true: the 2020 Top Ten had easily outperformed the overall market 100% of the time…until this month.

Conclusion:

The BTC halving event came and went in May and crypto markets shrugged. As the world continues to change because of COVID-19, what will be crypto’s place when we finally emerge on the other side?
Final word: Please take care of yourselves, your families, and your communities. Stay safe out there.
Thanks for reading and for supporting the experiment. I hope you’ve found it helpful. I continue to be committed to seeing this process through and reporting along the way. Feel free to reach out with any questions and stay tuned for progress reports. Keep an eye out for the original 2018 Top Ten Crypto Index Fund Experiment and the recently launched 2020 Top Ten Experiment.

And the Answer is…

A) Moons
According CryptoCurrency, Moons represent ownership in the subreddit, “tokens on the Ethereum blockchain controlled entirely by you, and they can be freely transferred, tipped, and spent in CryptoCurrency*.*” Check out this post for more details.
submitted by Joe-M-4 to CryptoCurrency [link] [comments]

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

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

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

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

Weekly Update: ParJar Swap private beta, Fantom Opera Network Special-fee Contract, SelfKey + ThreeFold, Open Staking live on Harmony…– 15 May - 21 May'20

Weekly Update: ParJar Swap private beta, Fantom Opera Network Special-fee Contract, SelfKey + ThreeFold, Open Staking live on Harmony…– 15 May - 21 May'20
Hey Parachuters! Seems like ages since I last posted a weekly update, right? Unfortunately, got super busy with IRL work and couldn’t keep up. But fret not! I finally scraped some time out today to get upto speed with all the news from the Parachute universe in May and June and organised them into a series of weekly updates like the ones I used to write earlier. But instead of posting them one by one everyday, thought it might be best to release them all at one go. So here's Part I of VI - All that happened at Parachute + partners from 15 May - 21 May'20:

The ParJar swap feature beta testing started this week with a call to testers far and wide. Click here for the latest update and stats on ParJar straight from Cap's mouth - "...it took almost two years of betas and growth to reach 1 million tips (March 7th) nd it’s taken 2 months to to add another 400k..". Amazing! The #par4par raffle continues with a 500k $PAR pool. Peace Love hosted a general knowledge trivia in TTR this week for 10k $PAR in prizes. Gamerboy’s random trivia and Victor’s “Big Trivia” in Tiproom were quite fun as well. Naj (who’s also this week’s Parena winner) hosted a six set quiz in TTR. Charlotte’s been hosting quizzes in a new format for quite some time now. This week too she held one in Tiproom. Jason started a #culturalweekend prompt with an invitation to Parachuters to share "about a cultural dance or ceremony" from their area. "Explain in detail about the dance and why it is important" for some cool $PAR. Among many of the cool stories shared by Parachuters included Nico’s Occitan music from Italy and Soleira’s Dancing Devils of Tinaquillo. Congratulations to Clinton’s FLI charity for partnering with Lumenthropy which is Stellar's philanthropic arm. Remember, all profits from the Parachute Shop go to FLI. Another crypto league with a 150k $PAR prize pot started this week. Gian’s Two-For-Tuesday was a free for all. To revisit all the awesome music posted for 2FT, check out the playlist made by Sebastian.
Naj came back from near certain defeat in the finale to win this week’s Parena
aXpire CEO Matthew Markham penned an article on remote work and billing software for legal firms. An updated e-flyer for Bilr was released as well. To track the latest $AXPR burn, click here. 2gether added customer support capabilities to their Twitter, Facebook and Discord. Plus, an incident tracker status page was added this week. The XIO dApp which is still in private beta has already seen 500k+ $XIO tokens locked into it. Awesome! To get a feel of how the dApp works, check out Dash’s latest video demo where he also shared some updates on tokenomics. Uptrennd founder Jeff Kirdeikis interviewed Dash over an hour long session to talk all things XIO. $XIO got listed on Idex. Click here to watch an update video on the latest developments. For XIO discussions this week, Citizens brainstormed over the base liquidity pair on Uniswap V2. DeFi Nation’s Clayton Roche wrote a detailed commentary on what XIO is doing right. Birdchain’s mid-May update came out this week. Voyager hosted a business update conference call this week. CEO Steve Ehrlich talked about the platform and crypto in general with Charlie Shrem on the Untold Stories podcast this week. Voyager’s Q3 2020 results were released. Still figuring out how to fund your Voyager wallet? Watch this video to find out. An upgrade to Fantom’s Opera Network was pushed which allows staking different amounts over time. For the latest project update, click here. A community AMA also happened this week where the team talked about a new staking proposal called Fluid Staking. Jeff from Uptrennd sat down to interview IOST co-founder Terry Wang this week. Uptrennd broke into the top 20k Alexa global rankings. Woohoo! GET Protocol’s GUTS Tickets app is now available in Italian as well. DoYourTip’s $DYT is now available on Uniswap V2.
What a welcome sight for support engineers. Source: https://2gether.statuspage.io/history
Switch’s $ESH token was listed on Stex, ProBit, Crex 24, Hotbit, Bilaxy and Bitcoin.com this week. Bitcoin.com also announced support for the $GHOST airdrop along with a deposit and trade competition. Continuing on its acquisition spree from last week, Switch acquired gaming platform Wavesbet and voting dApp ClearPoll. Whitepaper for the GHOST project by John McAfee was released. They will be airdropping their tokens 1:1 to $ESH HODLers on the 25th. The release of $GHOST has been contentious to say the least. Reflecting on some of the plagiarism allegations levelled against the project, the crew shared their side of the story. The team also sat down for an AMA with Coiner Vietnam. District0x’s latest weekly update talked about the upcoming DappDigest and new developments in Meme Factory among other news. The Q4 2019 quarterly report was released as well. Read all about Hydro’s Financial Offers framework here. If you are a graphic designer, don’t forget to check out this gig at Sentivate. US-residents only. OST’s Simona Pop will be attending a panel discussion by Outlier Ventures next week to talk about dev onboarding. P2P internet ecosystem ThreeFold announced a multi-faceted partnership with SelfKey for KYC and new user onboarding services. Following last week's community vote on the most attractive marketplaces, Passports Marketplace was found to be the most popular. This week, the community voted on their most preferred blockchain to be added to the app. Bank of Hodlers joined SelfKey's Loans Marketplace while Tokens.net joined the Exchanges Marketplace. COTI did a study on IoT payments and how it could offer a solution. The project was selected for the next listing vote on Gate.io. COTI community also got an opportunity to interact with the AtomicWallet team through an AMA this week.
Hydro has been constantly updating its dev tools to offer a seamless developer experience
Click here to read the latest Constellation Hypergraph mainnet stats. New features were added to the Molly wallet. Click here for steps to install the wallet. TheDailyChain expanded on how the $DAG ecosystem was growing. Pynk CEO Seth Ward wrote about the future of fintech in his EM360 article. Congratulations on crossing the 1k follower mark on Medium. In Shuffle Monster news, most of the $SHUF liquidity on Uniswap was moved to the V2 pool this week. New features were added to the Wibson app with the latest release giving more data control powers to the end user. Pre-staking started on the Harmony mainnet with the opening up of bids by validators followed by the election of the first batch of validators thereby marking the start of Open Staking. And just after, Harmony became the first ever blockchain to support sharded PoS. The news of Open Staking going live was covered by Coindesk and Cointelegraph. More details on what next was shared in a Coinspeaker article. How does a delegator fit into the overall scheme of things? Check out this video. Open staking noobs will find these 101 tutorials helpful. CTO Rongjian Lan also did a community call to explain about it. For the latest development updates otherwise known as #pow thread, click here. Harmony’s EPoS is designed to be fair to all stakers. So make sure to optimise your staking rewards. $ONE Binance wallets were taken down briefly for a temporary maintenance activity. They now support the mainnet coin. Hope you had a chance to participate in the guess-effective-median-stake contest to win some cool $ONE prizes. Click here for the latest staking stats. $ONE was added to Binance Savings which offers a fixed rate of return on locked savings. A minor bug in the staking bug was removed. The APR numbers should get calculated more accurately now. The crew appeared for an AMA with StakingHub. Congratulations to the winners of Stake Heist! Binance and BitMax announced support for staking with BItMax crew also appearing for an AMA. IntelliShare crew sat down for an AMA with CoinNess this week.

And with that, we have to close for this week in the Parachuteverse! See you again with another update. Ciao!
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"Swap" is Poised for Take-off


https://preview.redd.it/mnxeb74hk4j51.jpg?width=990&format=pjpg&auto=webp&s=32d152a7495971c10e1af12185abe5e77b61fd14

How popular is DeFi?
Link, known as the leader of the oracle machine, has increased by 305.19% for the past three months, with an investment return of 17,052%, climbing to the fifth spot in the cryptocurrency ranking list by market value in the short term;
Since its issuance, YFI, which has soared 350 times all the way, has attracted 630 million US dollars of investment in 5 days, and was even dubbed the next Bitcoin in this circle;
From Comp for lending, KNC and BAL, governance tokens for decentralized exchanges, to SNX which is a stable currency payment network, various governance tokens of the DeFi ecosystem have emerged in an endless stream, stirring the blood in the market.
Such a boom is not only reflected in the currency price, but also pushes the brand new DEX based on the AMM (automated market making) model an overnight hit. UniSwap, known as the next-generation casino, has surpassed the world's first-tier centralized exchanges such as Binance, OKex, and Huobi in user activity, daily trading volume, and daily turnover.
With the rapid rise of UniSwap, the DEX threat theory has once again triggered heated discussions among the media and communities in the blockchain industry.
DEX on the Rise
The success of UniSwap is by no means something accidental. As early as 2018 when centralized exchanges suffered the hacker theft one after another, Vitalik Buterin, founder of Ethereum, predicted that the future lay in decentralized exchanges and that Ethereum, by developing a "better" decentralized platform, could empower the cryptocurrency community to regain the dominance from the centralized cryptocurrency exchange.
To realize the decentralized concept of returning to users their asset ownership, geeks in the blockchain industry have made many attempts.
Kyber Network, Bancor, Balancer, 0X, Curvefi, etc. are all DEXs based on Ethereum blocks. For a long time, affected by the performance of Ethereum and cross-chain issues, these DEXs were once stagnant.
With the lessons learned from Ethereum DEX, newcomers to the DEX have focused on high performance, high TPS, and rich assets as the ultimate goal for product development.
Amid the DEX threat theory, major exchanges have deployed their own public chain DEX products in a response to their respective development strategies: Binance launched Binance DEX on its Binance Chain, and Bittrex Exchange unveiled Ethfinex on the Ethereum and EOSfinex on the EOS blockchain, two platforms where users can exchange for fiat currencies; last year, CoinEx officially launched CoinEx Chain, a public chain dedicated to decentralized transactions, followed by CoinEx DEX.
Since the birth of the DEX in the blockchain world, this field has never run out of competition.
By independent development or other’s advantage?
From 2017 when it was established to 2019 as it stabilized, DEX has witnessed its annual trading volume skyrocketing from less than US$5 million to over US$2.5 billion. As DeFi gains fame and grows rapidly, DEX has grown into the most popular source of money, attracting a flood of speculators. In the past month, the trading volume of the global cryptocurrency market DEX has exceeded US$ 4 billion, more than twice the figure across 2019.
In the past two years, despite the increasingly in-depth exploration in the DEX, the cross-chain issue remains a stumbling block in its development path. DEX will not outperform CEX in the trading experience until a cross-chain solution is worked out.
The concept of DeFi went viral in 2019. With the continuous improvement of the DeFi ecosystem, the current Ethereum blockchain has developed into a complete decentralized financial system, covering mortgage lending, interest from deposit, leveraged trading, token exchange, identity authentication, and other infrastructure essential to traditional financial systems.
In addition to the mouth-watering profit, the DeFi ecosystem has also brought along explosive growth in both the type and quantity of digital assets, making DEX a market favorite. Compared with the DEX dedicated to public chains, the Ethereum-based DEX has been equipped with more possible functions and thus become more attractive thanks to the comprehensive supplementary infrastructure on Ethereum.
This also presents DEX pioneers with new opportunities. Dubbed “Swap’s summer”, the summer of 2020 has seen a market rush in Swap development after UniSwap became a hit.
Miniswap, Justswap, and btswap are no more innovative than UniSwap according to their product structures and white papers.
By comparison, OneSwap has injected unique essence into its product design and governance model based on UniSwap's automated market making.
Upgraded UniSwap
OneSwap, which has a double mining model + order book, has received an investment of tens of millions from CoinEx even before the product is launched. It is known that OneSwap is jointly developed by a group of technology geeks who have engaged in the cryptocurrency community for many years. The project was initiated by a member of the team in an attempt to upgrade UniSwap after he experienced the convenient AMM enabled by UniSwap.
Without limit orders, users have to trade in the price set by the platform, which, however, compromised their experience. In addition, the lack of liquidity mining and transaction mining rewards cannot reduce the losses of liquidity providers caused by unilateral market conditions.
"DEX still has much room for perfection, and could even surpass CEX in trading experience"
The OneSwap development team always believes that UniSwap still has a long way to go before it becomes the strongest DEX in the DeFi ecosystem. They have endeavored to, relying on their abundant experience in exchange product development and digital currency trading, create the most powerful DEX product in the DeFi ecosystem based on smart contracts.
OneSwap is called the “upgraded UniSwap” in the community. By the combination of the Constant Product Market Maker (CPMM) model in the Uniswap project and the on-chain order book, it reduces restrictions on users’ trading, and, through its OneSwap Wallet, improves user interaction methods and further enhances their experience in trading and product usage.
OneSwap boasts one-click token issuance and listing essential to DEX. Unlike the listing review mechanism on Binance DEX, the setting of OneSwap is more consistent with the concept of decentralization. Anyone can put his or her good projects and ideas, if any, into practice through OneSwap without permission.
In terms of product design, OneSwap will add to its function menu the Candlestick chart, order form, and depth chart according to user habits, apart from limit orders. These functions will offer OneSwap users an experience as smooth, easy-to-use, and convenient as in the CEX.
A new source of money? A two-pronged platform with transaction mining + liquidity mining
To support on-chain governance, OneSwap will issue a ERC20 governance token called ONES. The total number of ONES remains constant at 100 million, 50% of which will be used as community funds to support the construction of the OneSwap ecosystem and 50% will be owned by the OneSwap team. Community funds can be applied for through on-chain governance. 5% of the part held by the team will be unlocked initially, and the rest will be unlocked at a rate of 5% every six months until all is unlocked after four and a half years.
After the OneSwap product was launched, the OneSwap team will take part of the initially unlocked tokens as airdrop rewards for the open beta. Then OneSwap will officially start liquidity mining and transaction mining, and the governance token ONES will also be simultaneously launched on centralized trading platforms across the world. The first round of mining activities will last for one month, and mining rewards are yet to be made public.
Liquidity mining is a popular way of obtaining governance tokens in the DeFi ecosystem. Well-known DeFi projects including COMP, Cure, and Banner have all enabled liquid mining.
Transaction mining could date back to 2018 when Fcoin grew popular.
The transaction mining model initiated by Fcoin in 2018 once set off a bull market that year, pushing many investors into financial freedom in the rush of transaction mining. In addition, transaction mining based on the DeFi ecosystem is still a blue ocean, which is not common in the current market. The success of OneSwap's double mining model, if possible, would surely start a craze in the cryptocurrency market.
The OneSwap team has not yet announced specific mining rules, but disclosed that it has developed the smart contract code. To ensure the product security, OneSwap will invite three well-known security agencies in the blockchain industry to audit the code and announce the auditing results in early September at the soonest.
Conclusion
DeFi did not rise to fame without reason in 2020. Such overnight popularity is an inevitable result of Ethereum's efforts to build a decentralized consensus mechanism and improve infrastructure in the past few years. Ethereum has almost become the only public chain in the DeFi circle and the only construction base for well-known DEX. If OneSwap succeeds, it means a huge breakthrough for both DeFi and Ethereum, and decentralization in its true sense is around the corner.
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Weekly Update: 5th Parachute League, Constellation + Splunk, Limit Orders on Voyager, SwitchDex update…– 12 Jun – 18 Jun'20

Weekly Update: 5th Parachute League, Constellation + Splunk, Limit Orders on Voyager, SwitchDex update…– 12 Jun – 18 Jun'20
Sup folks! Continuing with our six-part catch up series to get up to date on the May and June news from Parachute and partners, here’s Part V of VI (12 Jun – 18 Jun'20):

Jason's #fridayprompt for this week got Parachuters to "look at a holiday or major event celebrated in your nation" and talk about "the significance, how it evolved and what happens during the event or holiday". Tiproom crew launched a video contest for the best tutorial on how Crypto Leagues works. The 5th Parachute League with a 100k $PAR prize pot was launched this week. Naj hosted a fun trivia in TTR for 10k $PAR in prizes. Peace Love’s “Big Trivia” this week was based on general knowledge. Congratulations to Babywolf for winning this week’s Parena and taking home a boatload of $PAR. Saweet! This week’s Two-for-Tuesday was themed on rock and metal bands. If you’ve been in Parachute for a while, you’ll know that Parachuters across the world love sharing pictures from their daily lives in the chat. Here are some snippets they shared this week:
What a welcome sight amidst all this gloom and doom indeed, LordHades! Location: Black Sea
Some glimpses from Alexis’ and Carlos’ aquariums
Dang! What a view. Pic credits: Chris
In Hydro educational content this week, the team published articles on what an E-Money License was and a guide to prepaid card regulations. Mastercard did a shoutout to the PaaS report which was released 2 weeks back. And congratulations for getting listed in the Top Fintech Startups of 2020 list compiled by Business Insider. Amazing achievement! SelfKey published a guide to crypto lending in the US and an article on the benefits of crypto lending. While Constellation hasn’t made a public announcement yet, it seems like they have entered into a partnership with tech giant Splunk. Pynk’s Head of Investor Relations Miguel Ortiz penned an article on how the current financial system is skewed. Wibson crew attended an online Techqueria event on privacy this week. The team will be presenting at the next event. A chapter on Wibson has been included in a newly released book by Springer Nature titled Blockchain and Distributed Ledger Technology Use Cases. If you missed the Harmony AMA with Binance this week, you can read the transcript here. 1k USD worth of $ONE were given away. Sweet! And what an amazing edit for Justin Bieber fans. Haha! The weekly PoW thread can be read here. Harmony has climbed to the second position in overall score on the Staking Rewards platform. The team sat down for an AMA with Trust this week. Click here to catch up. They appeared for another AMA with Sesameseed as well. The entire session can be re-watched here. Covalent featured the project in its latest podcast. $ONE got listed on Switchain. Sesameseed started a staking campaign to reward $ONE delegators. Folks new to Intellishare can get acquainted with the project from their latest article. As GET Protocol’s Q2 2020 token burn event comes closer, the community got down to guessing the burn amount for a crack at 250 $GET in prizes. GET Protocol’s ticketing platform GUTS Tickets announced that it will be ticketing Woodkid’s Amsterdam event in Jan 2021.
The Mycro Hunter landing page looks fresh in case you haven’t checked it out yet
Click here and here to track the latest AXPR burns. 2gether founder Salvador Casquero was invited to the First Movers show on Capital Radio where he spoke about how the platform is innovating in fintech during the pandemic. CEO Ramon Ferraz appeared for the Territory BTC podcast to talk about the market in general and the growth of 2gether. YouTuber Bitcoin Sin Fronteras posted a video on how easy it was to buy crypto on 2gether. Quinten Francois of the Young and Investing YouTube channel also did a detailed review of the app. In #XIOSocial discussions this week, Citizens pondered over the semantics and economics of the XIO dApp staking fees. BIrdchain crew published an article on how to grow a business with SMS messages. Bounty0x's Jordan Smith spoke at the Run for the Unicorns event hosted by Silica Nexus. Limit orders went live on Voyager this week based on community feedback. So the team opened up another survey to take inputs on new features. The latest version of SwitchDex and McAfeeDex went live this week. Fantom released a general update to cover all the recent news from the dev front. The release schedule of its DeFi suite, Fantom Finance, was published as well. Alpha Sigma Capital covered Uptrennd in its research coverage of in-focus projects. GDA Capital released an extensive report on the project too. Founder Jeff Kirdeikis sat down for an interview with Best Bitcoin Casino. The team is on a hiring spree in case you are looking for a gig. Click here to read the latest weekly update from District0x. Among the new items covered are dev updates to Meme Factory and other districts, ongoing Ethlance remake etc. COTI laid out its wallet strategy and how it aims to build adoption for Viper in a detailed post this week.

And with that, we have to close for this week in the Parachutesphere! See you again with another update. Cheerio!
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Weekly Update: The Parachute culture, $COTI on Gate.io, Pynk crowdfunding campaign live, Voyager + Sterling Trading Tech…– 22 May - 28 May'20

Weekly Update: The Parachute culture, $COTI on Gate.io, Pynk crowdfunding campaign live, Voyager + Sterling Trading Tech…– 22 May - 28 May'20
Heyo! Continuing with our six-part catch up series to get up to date on the May and June news from Parachute and partners, here’s Part II of VI (22 May - 28 May'20):

If you're in crypto, there's often the random pump/moon/wenBinance talk that props up from time to time in groups. Especially, when someone new joins a project and is unfamiliar with the community culture. At Parachute, we have always made it a point to have more meaningful discussions than price. Cap shared some of his thoughts on this as well. For the #culturalweekend prompt this week, Jason got Parachuters to share about “something weird your family does that is a tradition for them but not a traditional tradition”. Peace Love’s Big Trivia in TTR was quite fun as always. The beta testing group for ParJar swaps was set up this week. Also, Chris organised something amazing this week which will possibly remain a secret amongst Parachute admins (and Doc Vic 😊 ). But if word of it ever goes out, you’ll realise why Parachute is the most wholesome project in all of crypto. Chris also gave out some cool $PAR to folks in the Parachute channel to talk about "something that you didn't spend much money on that had a big impact on your quality of life". This week's Two-for-Tuesday featured music from "female artists, including bands with at least one female member". Click here for the playlist. Thanks Sebastian!
Some good cheer from Alexis all the way from Germany
aXpire’s May recap video covers product updates from Bilr, PayBX etc. To track this week’s 20k $AXPR burn, click here. The team also shared success strategies for law firms. 2gether co-founder Salvador Casquero wrote about best security practices in finance. A new update was pushed to Wednesday Coin’s dApp, WednesdayClub. In this week’s XIO discussions, Citizens talked about ideal time allocation strategies for research and execution. Top Citizens on the Leaderboard stand a chance to win some cool merch. Also, watch out for pesky scams. Voyager announced a partnership with Sterling Trading Tech to launch a crypto trading widget. Proactive Investors covered Voyager in its latest piece chronicling their growing user base. As mentioned in a previous update, CEO Stephen Ehrlich’s crypto investment webinar happened this week. Switch crew did a community AMA just before the $GHOST airdrop snapshot. The team expanded with new dev hires. In preparation for the $GHOST airdrop, ProBit completed its $VSF:$ESH swap and Stex announced support for $ESH/$GHOST airdrop. $ESH was listed on HitBTC and Changelly. Folks who guessed these exchanges correctly won some tokens as well. Founder Josh Case sat down with Mr. Backwards for an interview. Among several updates to the Ghost website, a staking calculator was added. Click here to read the latest technical update from Fantom. $FTM was in the running to be added as a collateral for DAI. Congratulations to Uptrennd for becoming the highest ranked blockchain-based social media platform as per Alexa. They started a SmartLink campaign with 2key Network. The first Uptrennd halvening went live this week. The team is reachable on Discord from now as well. District0x’s latest District Weekly and Dev Updates can be read here and here respectively. Hydro team shared their thoughts on how virtual cards for independent contractors (otherwise referred to as 1099 employees) could improve reimbursement practices. Entries for their Decentralization Ambassador program were opened this week.
These look great, XIO team
This is what is planned for the GHOST ecosystem currently
SelfKey compiled a master list of crypto lending platforms. The Loans Marketplace will feature many of these. Full transcript of the May 12th AMA was released. SelfKey advisor Edmund Lowell spoke at the BlockConf DIGITAL conference this week. Mongolian exchange AIS-X joined the Exchange Marketplace. Pynk’s crowdfunding campaign on Seedrs went live this week. Check out their campaign video here. Amazing production! Plus, this cool feature in City A.M. was the perfect way to close off the week. Wibson hosted a meetup (online of course!) for its Spanish speaking community this week. The crew also introduced the app at an Ethereum event in Buenos Aires. Harmony burned all mainnet tokens mined before Open Staking going public. The latest staking stats and validator data can be seen here and here respectively. That’s right, 3B+ $ONE is already staked. Woohoo! With its latest CoinDCX listing, $ONE got its first INR trading pair. Saweet! The major improvement proposals that were discussed with the community this week were making Open Staking more decentralized and creating a more liquid staking market. This led to the first release after Open Staking. The winners of the effective-median-stake contest were announced. Hope you got a chance to take part in the Flash Quiz. Do you know about all the projects that have been built in the Harmony ecosystem? Here’s a rundown. The team hosted an AMA as well. BitMax changed some of its rules for $ONE staking. Check out COTI’s latest network growth stats here. And super congratulations on winning the Gate.io listing vote! $COTI was also added to Binance’s Locked Savings staking program. Broking platform Troy Trade partnered with COTI to improve its scalability. DoYourTip’s $DYT now has 2500+ HODLers. Neat! Mycro was invited to join BitForex’s app platform CAPP Town. GET Protocol’s GUTS Tickets was covered in Cryptogeeks’ latest blogpost on blockchain-based ticketing.

And with that, it’s a wrap for this week in Parachute and partners! See you again with another update. Cheerio!
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July 2020 Updates

July 2020 Updates

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The month of July has been very busy but productive for the Swipe team. With the recent partnerships, announcements, and launches that were revealed, Swipe has indeed trying its best to achieve its mission of mainstreaming cryptocurrencies worldwide.
Swipe & Binance Seal Partnership
Swipe and Binance users got the exciting news that they have been waiting as the two companies simultaneously announced on July 7, its partnership through an acquisition move of Binance.
Binance, one of the world’s largest digital asset exchange, completed its acquisition of Swipe for an undisclosed amount. The acquisition aims to further mainstream the adoption of cryptocurrencies by bridging the gap between fiat and digital assets.
In line with this partnership, Swipe has also announced the integration of Binance Coin ($BNB) and Binance USD ($BUSD) on the Swipe Wallet application. Swipe users can now buy and sell crypto with their linked debit or credit cards, spend it to fiat via Swipe Visa Card and swap it instantly with other coins available on the app.
Also, Swipe’s native token $SXP is now listed on Binance Korea and Binance, with SXP/USDT perpetual contract with up to 50x leverage for all professional traders on the Binance platform.
Swipe Wallet v 1.5 Update
Swipe’s recent application update now lets users of choose from eight different languages such as English, Spanish, Italian, French, Portuguese, Chinese, Korean, and Japanese to use on their app. This will help users who are native speakers of these languages to transact within the app more effectively.
Download the updated app today: http://sw.pe/App
Swipe Card Rewards
Swipe Visa Card users will now have the choice to get up to 4% cashback in either Bitcoin ($BTC), Swipe Token ($SXP), or Binance Coin ($BNB) on every purchase at over 60 million merchants worldwide that accepts Visa.
European and the United Kingdom users can order their Swipe Visa cards their cards here: https://www.swipe.io/cards/
Swipe Slate Card Update
Swipe users who are interested to upgrade their current Swipe Saffron Cards to Swipe Slate cards can now do so with a lowered $SXP six-month stake requirement of 30,000 SXP!
This lowers the cost of entry for our black card by 10x from the initial 300,000 $SXP staking requirement.
Swipe x FTX
Swipe’s native token $SXP is now listed on FTX exchange. Users can now trade futures, spots, and leverage markets on FTX’s website. As $SXP markets are now live on FTX, both companies launched two events on the FTX platform to encourage users to start trading $SXP.
The first event, Buy/Deposit SXP and Split a 40,000 USD Prize Pool, was held from July 17 to 31. $20,000 prize was divided to users who net buy more than 100 SXP, and also another $20,000 to those who net deposit more than $100 or 100 SXP of accepted collateral into the FTX during the event.
The second event, which is the SXP Tokens Trading Competition, has a total prize of 15,000 USD. Participants who will trade more than $200 worth of SXP products will split the prize pool of a maximum of 10,000 USD. The event is still ongoing and will run until August 17. More details are available on https://ftx.com/competitions/swipe
SXP is now listed on Poloniex
$SXP is now listed on cryptocurrency exchange Poloniex. SXP wallets are now open at Poloniex, and users can now begin depositing SXP and trading SXP/BTC, SXP/TRX, and SXP/USDT.
Swipe and Poloniex also both gave away 1,500 worth of $SXP to the first 100 depositors of 200 $SXP at Poloniex.com. Prizes will be deposited within two weeks of the trading competition, which ended last July 24.
Swipe and Elrond Partnership
Swipe recently integrated Elrond Network’s $ERD on its platform. This will make the $ERD token directly available for onboarding to more than 500,000 new users.
$ERD will be spendable via Swipe Wallet and its Visa debit cards, at millions of locations worldwide where Visa is accepted and as well as through services such as Google Pay, Apple Pay & Samsung Pay.
In relation to this newly sealed partnership, it announced a promotional event that lets Swipe users get up to 5% $ERD cashback in ERD on net buys. The event which happened for five days, from July 27 to August 1, gave away up to $100 cashback in ERD per KYC user who help 1 to 1000 $SXP during the event period.
Swipe x Compound
Compound’s governance token $COMP is now integrated on the Swipe Wallet platform. Users can now begin to now buy and sell $COMP with their linked debit or credit cards, spend it to fiat via Swipe Visa Card, and swap it instantly with other coins available on the app.
Swipe Partners with Travala.com
Travala.com, a leading blockchain-based travel booking service, has sealed a notable partnership with Swipe by adding $AVA to the Swipe platform. In addition to its integration on the platform, which will help $AVA users to convert, spend and buy it easily using the mobile application, Swipe Token ($SXP) is now added on Travala.com’s list of preferred payment option at over 2 million hotels and accommodations around the world.
Share your Swipe Visa Card and Win!
Swipe will select 3 lucky participants who will win 500 SXP by simply sharing a photo or video of your actual Swipe Card in action on Facebook, Twitter, Instagram, Reddit, or LinkedIn.
Users must tag their posts with the #GotSwipe hashtag, follow @SwipeWallet on Twitter, or @Swipe on Instagram, Facebook, and LinkedIn.
Three lucky winners in each platform will be selected by the team!
Swipe Launches Staking and DeFi
Swipe is proud to announce that it has launched its test network for Swipe Network Staking with up to 12% APY staking rewards and its plans to launch a Decentralized Finance Lending or Earn application on Binance Smart Chain with Swipe Governance.
With the launch of the Swipe Network testnet, users can use the Swipe Faucet to grab testnet-SXP to use on the decentralized finance application. Users will be able to bond SXP to the Swipe Network smart contract as collateral to ensure the guarantee of conversions for these exchanges.
Meanwhile, Swipe plans to launch a DeFi App on Binance Chain called SwipeFi, which will enable Binance Chain tokens to be used to earn interest on their supply of collateral to the protocol and borrow against their collateral directly on the Binance blockchain. Swipe has been working with the core developers of Binance Smart Chain through the acquisition and partnerships between Swipe and Binance, to launch SwipeFi.
SwipeFi will initially support BTC, BNB, ETH, BUSD, TUSD, and SXP to supply or borrow. The protocol will be governed by a new Binance Chain BEP2 token: Swipe Governance Token (SGV).
Click the LINK to get further information about the Network Staking and DeFi.
40 More Winners on Twitter Giveaway
Forty more winners, who will simply follow Swipe and its Chief Executive Officer Joselito Lizarondo on Twitter, like the contest tweet, and retweet and tag three friends, will get a chance to win $100 BTC each. Ten winners will be announced every week on Swipe’s Twitter page.
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Stay up-to-date with all the latest news from Swipe
Website: https://swipe.io
Twitter: https://twitter.com/SwipeWallet
Facebook: https://facebook.com/Swipe
Instagram: https://instagram.com/Swipe
Medium: https://medium.com/Swipe
Telegram: https://t.me/SwipeWallet & https://t.me/Swipe
LinkedIn: https://www.linkedin.com/company/swipewallet
YouTube: https://youtube.com/SwipeWallet
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What Is a Cryptocurrency Exchange?

What Is a Cryptocurrency Exchange?

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A cryptocurrency exchange is the meeting point where traders exchange their cryptocurrencies for fiat money or other cryptos. These online exchanges, where the market price is generated, mark the value of cryptocurrencies based on supply and demand. It is a virtual space that allows the purchase and sale of cryptocurrencies.
Since the appearance of Bitcoin in January 2009, cryptocurrencies have quickly demanded the use of this type of platform to access decentralized assets. The first cryptocurrency exchange was developed in March 2010 under the name of Bitcoinmarket. Since then, many proposals have emerged in the crypto space to provide quality options to cryptocurrency traders worldwide.
Listing
One of the important achievements of a Blockchain platform is getting your currency listed on a major cryptocurrency exchange in the digital finance arena.
According to the Cambridge Dictionary, in the stock market, the term ‘listing’ refers to a place in a list of companies whose shares are bought and sold on a particular stock market, or the act of putting a company on a list. In the case of cryptocurrencies, the native tokens or coins of a blockchain platform represent those ‘shares’ of the platform.
However, being listed on exchanges, especially on major ones, is neither easy nor straightforward. Many cryptocurrency exchanges have well-defined listing criteria to list the cryptocurrencies of credible projects, and not all projects meet the criteria the exchanges present.
How exchanges operate
Cryptocurrency exchanges can be classified into different types, but they all share something in common. They are all platforms designed to facilitate the participation of their users in the alternative cryptocurrency market.
For this, they have fundamental and technical analysis tools and a large number of indicators so that traders can make the best decisions at all times within the market.
Depending on the type of exchange used, transactions work on the platform or user side, all based on the benefits offered by blockchain technology.
Most of the exchanges charge a commission on the buy-sell operation established by the trader. Also, those transactions are confirmed in the native blockchain of currency on which it is operated. Thus, for example, if you deposit or withdraw a certain amount of BTC in Binance, you will have to wait for the confirmation of the bitcoin blockchain network. You can see the corresponding balance successfully reflected after your transaction is confirmed.
What is the difference between a CEX and DEX
As we mentioned earlier, there are many categories of cryptocurrency exchanges, but fundamentally two large groups dominate the scene: centralized «CEX» and decentralized «DEX» exchanges.
The first group corresponds to traditional exchanges, where access to buy or sell their tokens according to the market price.
Compared to DEX, they are highly regulated platforms that must meet KYC(Know Your Customer) and AML(Anti money laundering) standards. It means that there is no privacy on their platforms since users are forced to reveal their identity to trade. Coinbase, Binance, Kraken, Bithumb, and Bitfinex are examples of this type of exchange.
Moreover, CEX charges for its services, and some of them offer funding alternatives through traditional bank accounts or conventional credit cards. By charging commissions, CEX keeps the platform functioning and generating income.
In the case of decentralized exchanges or DEX, they are a direct evolution of the traditional ones. Although they work in a similar way to the CEX, they are able to operate in a decentralized way thanks to smart contracts. It indicates that there are no intermediaries, and the platform is self-supporting due to its programming. In addition to this, DEX usually has high levels of privacy and even anonymity since it does not require KYC or AML. Some of the examples of DEX are AirSwap, Bancor, UniSwap, and Bisq.
However, despite its mentioned qualities, there are defects that traders are reluctant to use DEX exchange. In many cases, its interface is difficult to use for the average trader to operate, and it has limited order types. Also, its low liquidity that generates high spreads drives away the users.
Where FLETA is listed
In the case of the FLETA token, we can find it available in a large number of exchanges globally.
Since our first listing on the GDAC Exchange with the FLETA / KRW pair, the token is now available on five more exchanges for a total of enlistment in 08 pairs within six global exchanges.
Below you can find the complete list of token availability in cryptocurrency exchanges in the market:
● Bithumb «FLETA / KRW»
● Coinone «FLETA / KRW»
● Bithumb Global «FLETA / USDT»
● Bittrex «FLETA / BTC»
● DigiFinex «FLETA / ETH»
● DigiFinex «FLETA / BTC»
● GDAC «FLETA / KRW»
● Bitsonic «FLETA / KRW»
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submitted by fleta-official to fletachain [link] [comments]

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?

Crypto Banking Wars: Will Coinbase or Binance Become The Bank of The Future?
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?
https://reddit.com/link/i48t4q/video/v4eo10gom7f51/player
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.
The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?
We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
https://preview.redd.it/lau4hevpm7f51.png?width=800&format=png&auto=webp&s=2c5de1ba497199f36aa194e5809bd86e5ab533d8

Binance

The most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Binance is well-positioned to become the crypto-powered, all-in-one, bundled solution for financial services. They already have so many of the pieces. But the key question is:
Can they create a cohesive & united product experience?

Binance Weaknesses

Binance is strong, but they do have a few major weaknesses that could slow them down.
  1. Traders & Speculators Binance is currently very geared for speculators, traders, and financial professionals. Their bread-and-butter is trading (spot, margin, options, futures). Their UI is littered with depth charts, order books, candlesticks, and other financial concepts that are beyond the reach of most normal consumers. Their product today is not at all tailored for the broader consumer market. Given Binance’s popularity and strength among the pro audience, it’s unlikely that they will dumb down or simplify their product any time soon. That would jeopardize their core business. Binance will likely need an entirely new product/brand to go beyond the pro user crowd. That will take time (or an acquisition). So the question remains, is Binance even interested in the broader consumer market? Or will they continue to focus on their core product, the one-stop-shop for pro crypto traders?
  2. Controversies & Hot Water Binance has had a number of controversies. No one seems to know where they are based — so what regulatory agencies can hold them accountable? Last year, some sensitive, private user data got leaked. When they announced their debit card program, they had to remove mentions of Visa quickly after. And though the “police raid” story proved to be untrue, there are still a lot of questions about what happened with their Shanghai office shut down (where there is smoke, there is fire). If any company has had a “move fast and break things” attitude, it is Binance. That attitude has served them well so far but as they try to do business in more regulated countries like America, this will make their road much more difficult — especially in the consumer market where trust takes a long time to earn, but can be destroyed in an instant. This is perhaps why the Binance US product is an empty shell when compared to their main global product.
  3. Disjointed Product Experience Because Binance has so many different teams launching so many different services, their core product is increasingly feeling disjointed and disconnected. Many of the new features are sloppily integrated with each other. There’s no cohesive product experience. This is one of the downsides of executing and shipping at their relentless pace. For example, users don’t have a single wallet that shows their balances. Depending on if the user wants to do spot trading, margin, futures, or savings… the user needs to constantly be transferring their assets from one wallet to another. It’s not a unified, frictionless, simple user experience. This is one major downside of the “move fast and break things” approach.
  4. BNB token Binance raised $15M in a 2017 ICO by selling their $BNB token. The current market cap of $BNB is worth more than $2.6B. Financially this token has served them well. However, given how BNB works (for example, their token burn), there are a lot of open questions as to how BNB will be treated with US security laws. Their Binance US product so far is treading very lightly with its use of BNB. Their token could become a liability for Binance as it enters more regulated markets. Whether the crypto community likes it or not, until regulators get caught up and understand the power of decentralized technology, tokens will still be a regulatory burden — especially for anything that touches consumers.
  5. Binance Chain & Smart Contract Platform Binance is launching its own smart contract platform soon. Based on compatibility choices, they have their sights aimed at the Ethereum developer community. It’s unclear how easy it’ll be to convince developers to move to Binance chain. Most of the current developer energy and momentum around smart contracts is with Ethereum. Because Binance now has their own horse in the race, it’s unlikely they will ever decide to leverage Ethereum’s DeFi protocols. This could likely be a major strategic mistake — and hubris that goes a step too far. Binance will be pushing and promoting protocols on their own platform. The major risk of being all-in on their own platform is that they miss having a seat on the Ethereum rocket ship — specifically the growth of DeFi use-cases and the enormous value that can be unlocked. Integrating with Ethereum’s protocols would be either admitting defeat of their own platform or competing directly against themselves.

Binance Wrap Up

I don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
https://preview.redd.it/mxmlg1zqm7f51.png?width=800&format=png&auto=webp&s=2d900dd5ff7f3b00df5fe5a48305d57ebeffaa9a

Coinbase

The crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.

Coinbase Strengths

Let’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
  1. Different Audience, Different Experience Coinbase has been smart to create a unique product experience for each audience — the pro speculator crowd and the common retail user. Their simple consumer version is at Coinbase.com. That’s the default. Their product for the more sophisticated traders and speculators is at Coinbase Pro (formerly GDAX). Unlike Binance, Coinbase can slowly build out the bank of the future for the broad consumer market while still having a home for their hardcore crypto traders. They aren’t afraid to have different experiences for different audiences.
  2. Brand & Design Coinbase has a strong product design team. Their brand is capable of going beyond the male-dominated crypto audience. Their product is clean and simple — much more consumer-friendly than Binance. It’s clear they spend a lot of time thinking about their user experience. Interacting directly with crypto can sometimes be rough and raw (especially for n00bs). When I was at Mainframe we hosted a panel about Crypto UX challenges at the DevCon4 Dapp Awards. Connie Yang (Head of Design at Coinbase) was on the panel. She was impressive. Some of their design philosophies will bode well as they push to reach the broader consumer finance market.
  3. USDC Stablecoin Coinbase (along with Circle) launched USDC. We’ve shared some stats about its impressive growth when we discussed DeFi use-cases. USDC is quickly becoming integrated with most DeFi protocols. As a result, Coinbase is getting a front-row seat at some of the most exciting things happening in decentralized finance. As Coinbase builds its knowledge and networks around these protocols, it could put them in a favorable position to unlock incredible value for their users.
  4. Early Signs of Bundling Though Coinbase has nowhere near as many products & services as Binance, they are slowly starting to add more financial services that may appeal to the broader market. They are now letting depositors earn interest on USDC (also DAI & Tezos). In the UK they are piloting a debit card. Users can now invest in crypto with dollar-cost-averaging. It’s not much, but it’s a start. You can start to see hints of a more bundled solution around financial services.

Coinbase Weaknesses

Let’s now look at some things that could hold them back.
  1. Slow Cadence In the fast-paced world of crypto, and especially when compared to Binance, Coinbase does not ship very many new products very often. This is perhaps their greatest weakness. Smaller, more nimble startups may run circles around them. They were smart to launch Coinbase Ventures where tey invest in early-stage startups. They can now keep an ear to the ground on innovation. Perhaps their cadence is normal for a company of their size — but the Binance pace creates quite the contrast.
  2. Lack of Innovation When you consider the previous point (slow cadence), it’s unclear if Coinbase is capable of building and launching new products that are built internally. Most of their new products have come through acquisitions. Their Earn.com acquisition is what led to their Earn educational product. Their acquisition of Xapo helped bolster their institutional custody offering. They acqui-hired a team to help launch their staking infrastructure. Their acquisition of Cipher Browser became an important part of Coinbase Wallet. And recently, they acquired Tagomi — a crypto prime brokerage. Perhaps most of Coinbase’s team is just focused on improving their golden goose, their exchange business. It’s unclear. But the jury is still out on if they can successfully innovate internally and launch any homegrown products.
  3. Talent Exodus There have been numerous reports of executive turmoil at Coinbase. It raises a lot of questions about company culture and vision. Some of the executives who departed include COO Asiff Hirji, CTO Balaji Srinivasan, VP & GM Adam White, VP Eng Tim Wagner, VP Product Jeremy Henrickson, Sr Dir of Eng Namrata Ganatra, VP of Intl Biz Dan Romero, Dir of Inst Sales Christine Sandler, Head of Trading Hunter Merghart, Dir Data Science Soups Ranjan, Policy Lead Mike Lempres, Sr Compliance Vaishali Mehta. Many of these folks didn’t stay with Coinbase very long. We don’t know exactly why it’s happening —but when you consider a few of my first points (slow cadence, lack of innovation), you have to wonder if it’s all related.
  4. Institutional Focus As a company, we are a Coinbase client. We love their institutional offering. It’s clear they’ve been investing a lot in this area. A recent Coinbase blog post made it clear that this has been a focus: “Over the past 12 months, Coinbase has been laser-focused on building out the types of features and services that our institutional customers need.” Their Tagomi acquisition only re-enforced this focus. Perhaps this is why their consumer product has felt so neglected. They’ve been heavily investing in their institutional services since May 2018. For a company that’s getting very close to an IPO, it makes sense that they’d focus on areas that present strong revenue opportunities — as they do with institutional clients. Even for big companies like Coinbase, it’s hard to have a split focus. If they are “laser-focused” on the institutional audience, it’s unlikely they’ll be launching any major consumer products anytime soon.

Coinbase Wrap Up

At Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.

Honorable Mentions

Other US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
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BITCOIN BULL RUN IN 30 DAYS SAYS CRYPTO TRADER - Binance Biggest Upgrade Ever SXP Swipe Btc Bitcoin Binance Poloniex Bitmax reference id ... Build Bitcoin Bot with Gekko and Research Coins on Binance - How To BITCOIN MEGA HALVING!! $7.6 BILLION DEMAND, Binance Smart Contracts, Google - Programmer explains Binance Tutorial deutsch - Anleitung zum Kaufen und ... Binance Chain --- The Epitome Of $hitcoin Platforms

Binance, the world’s leading cryptocurrency exchange, recently announced the listing of yet another cryptocurrency — renBTC (RENBTC).The exchange made the new coin available in trading pairs against Ethereum and Bitcoin yesterday afternoon. RenBTC can, of course also be deposited directly from users’ wallets. On October 14, 2020, Binance exchange unveiled six decentralized finance (DeFi) projects on Binance Smart Chain that will receive funds from its $100M Accelerator Fund.. Binance explained that blockchain projects AnySwap, Arkane Network, BakerySwap, Bitquery, PancakeSwap, and Proxima would be granted $ 350,000 via the exchange’s $100M in funding project. The director of Binance UK, Teana Baker-Taylor, is leaving the cryptocurrency exchange after a relatively brief, half-year stint in the role. A spokesperson for Binance confirmed to CoinDesk that ... With the bull run of BTC upon us, and Bitcoin surpassing the $10,000 benchmark, now might be as good a time as ever to use your BTC before the volatility heads back south. It’s been a while since we got above this psychological breakpoint, and many analysts suggest that eventually, Bitcoin will sink lower again. On the other hand, we might be in for much higher values by 2021. Binance, the global blockchain company behind the world’s largest cryptocurrency exchange, today announced it is joining Blockchain for Europe, the European membership association representing international blockchain industry participants at the EU-level. Teana Baker-Taylor, U.K. Director at Binance has also been appointed to the Board of Blockchain for Europe, alongside Fetch.ai, Ripple ... World’s largest crypto exchange, Binance, has awarded grants to six DeFi projects worth approximately $350,000 from its recently launched $100 million accelerator fund. In a press statement shared with Bitcoin Exchange Guide, Binance revealed blockchain startups Proxima, AnySwap, PacakeSwap, Arkane Network, Bitquery, and BakerySwap had been awarded $350,000 as grants. The spread between the six-month implied volatility (IV) for ether (ETH) and bitcoin (BTC), a measure of expected relative volatility between the two, fell to a 2.5-month low of 4% over the ... Am Kryptomarkt gibt es Entwicklungen, die viele Beobachter überraschen dürften: Aus heiterem Himmel hat die Chicago Mercantile Exchange den zweiten Platz unter den größten Bitcoin Futures ... After Binance CEO Changpeng Zhao (CZ) said that the firm was pro-innovation in the DeFi space, his cryptocurrency exchange announced today that it would fund six DeFi projects building on its Binance Smart Chain as part of its earlier launched $100 million accelerator fund. Malta’s futuristic design to be the "Blockchain Island" has suffered a setback as 70% of companies in the sector have not sought licensing.

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BITCOIN BULL RUN IN 30 DAYS SAYS CRYPTO TRADER - Binance Biggest Upgrade Ever

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