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AMA Wrap-up & Summary
A very big thank you to everyone who participated in FinNexus’s first ever AMA session in the Wanchain Telegram! We were very pleased with the level of enthusiasm from AMA participants! We’re sorry to say that we weren’t able to answer every single question as we received close to 80 questions, and many of them were similar. However, we did our best to identify all the unique questions and answer them all as fully as possible. We have also selected the top ten 🏆🏆🏆winning questions🏆🏆🏆 of the AMA who’s askers will be receiving $20.00 worth of FNC each at the Wanchain address they submitted after the token generation event scheduled in January. (Feel free to ask any other questions in response to this post!)
TOP TEN QUESTIONS:
1.🏆 What’s special about Finnexus vs. others in the space? @oluap5773 Our closest competitors are traditional financial institutions which offer low risk, non blockchain based stable return and fixed return products. Our other competitors would be platforms such as Binance and Compound which offer centralized or decentralized stable return products based on crypto lending businesses. FinNexus has a unique focus on assets with real value built on blockchain infrastructure, which is rare in our other DeFi projects. Unlike Binance and Compound whose stable return products are based on crypto lending businesses, the assets we issue include those based on both real world and crypto businesses, which gives users access to reliable assets which are not correlated with the performance of crypto markets. And unlike traditional institutions, all our products are built on blockchain, which enables them to make use of all the blockchain’s advantages. 2. 🏆 What do you think of the future of DeFi in this space? @salmanmbstu96 Our expectation of the future DeFi is mainly on the application level rather than a technical one.
Borrowing and Lending cannot be everything about DeFi. The growth of the DeFi should be largely diversified to other assets and business models.
The risks in the DeFi world is similar, in other words, most of the DeFi models are facing the same systematic risks, which are with high risk and high expected return characteristics. In cases when the bitcoin collapses, every businesses and scenarios will be affected. This is not healthy.
The DeFi applications are not so user-friendly. One has to take some time to learn how to deal with one decentralized product.
A leading project in the future should have the ability to solve the problems above. Blockchain is a great technology, while the combination with finance cannot avoid the basic logic and be isolated from the successful scenarios and models we built. Different models here mean different application scenarios in the financial world, like the equity rights, debenture rights, derivatives or other beneficiary rights. The centralized or decentralized cannot be questions like yes or no. During the process of development, there may be something in between. On one hand it is built in a decentralized way and smart contracts are triggered automatically; while on the other hand, it is adapting the realistic that some parts of transactions or measurements must be under centralized regulations. We would like to call it Open Finance, as it is open to both the crypto assets on the blockchain, and the assets off the chain while restructuring their parts in a decentralized way. In the future, we believe that there will be leading projects, that can bridge the blockchain technology and real world assets, diversify the systematic risks while attracting more users, and be user friendly that the nonprofessional may easily operate. 3. 🏆 Give me reason’s why should I invest in #FinNexus? @cryptococuk01 I hope you read the write paper of FinNexus and got understandings on what FinNexus is about to do. FNC will be the sole token in the FinNexus ecosystem. It is a kind of hybrid token, like a utility token but also benefiting from FinNexus development. FinNexus will work as the financial product supermarket, Broker, Investment Banker or something alike. It will gain revenue directly from its operations. Holders of FNC is eligible to the following rights or benefits (will be explained in details on the FinNexus official websites): 1)Rights of higher rate of returns on tokenized products; 2)Rights to invest in tokenized products with lower cost; 3)Benefits on the discount on the transaction commissions; 4)Derivative rights, like early settlement, resale or interest swaps; 5)Rights to interact with WAN; 6)Benefits on the FinNexus’ development; the revenue of FinNexus is from: Underwriting; Investment banking; Market making; Transaction commissions; Investment in tokenized products. 4. 🏆 How can FinNexus goal be explained in layman’s terms? @iamthethirdkind You can actually get a clue from the project’s name ‘FinNexus’. The name is quite straightforward. FinNexus is the combination of the words ‘Finance’ and ‘Nexus’. It means financial connections. I will explain that in 3 aspects:
To asset owners
Finance here includes the ‘traditional’ and the ‘decentralized’ and traditional finance is only traditional compared to DeFi. Here FinNexus is aiming at providing a solution, which we call it a protocol, where one can link the traditional financial world with the blockchain technology in an efficient, transparent and feasible way. For example, one with assets that have good expected cash flows will find a way to easily tokenize the assets on FinNexus.
To users FinNexus will act as a financial product supermarket. Right now, the DeFi world has a problem that almost all of the crypto assets or financial products bear the same systematic risks, which means when the Bitcoin price collapses, every kind will join the plummet and even the financial models will cease to be valid. One of the reasons is that all assets are purely crypto-born. Moreover, the crypto interface is not so easy for a nonprofessional to operate. FinNexus’ goal is to provide diversification and convenience with assets of real value. Users will be able to invest in assets with various risks and returns here, and can easily choose to their preferences like in a supermarket.
FinNexus is concentrating in the application level, with the help of the two initiators. It will not operate or manage assets directly and will act as a channel or a hub, where supplies and needs are paired, while in later stages, it will strive to build the protocols or standards for all of these tokenizations and transactions. 5. 🏆 What are tokenized digital assets in FinNexus? How is it different from current digital assets? @hg144 The FinNexus team have done researches on the tokenization of real world assets. Right now, only a few groups like the credit assets, supply chain finance or other sub-dividable beneficial rights seem most feasible. These tokenized products may bear characteristics like equities, debentures, derivatives or other beneficiary rights. The noticeable differences lie in the nature of the products. The returns are from the cashflow of the real world assets, rather than mining, staking, speculating, etc. FinNexus combines the decentralized and centralized means. The tokens have advantages on chain, while the product design and disclosure draw lessons from traditional finance. Apart from that, there will also be products totally on chain, triggered by smart contracts, like crypto futures, options, and ETFs, with user-friendly interfaces. 6. 🏆 What are the advantages and disadvantages of FinNexus when developing in a large market like China? Do you have plans to develop other regions? @hiampluto Advantages: (1) The blockchain industrial environment and public opinion guidance has changed since China’s President Xi Jinping recent announcement. The word blockchain has been mentioned in social media time and time again, and almost everyone is trying to find out what it is. President made it clear that the country would encourage enterprises applying the technology into real world scenarios. (2) China has the largest population and made great technological progress over the last decade. Blockchain projects, communities, exchanges, token funds, medias, and other participants have established a complete and dynamic ecosystem. FinNexus is easy to access to these resources. (3) Financial market in China has been making great progress, which provides FinNexus with adequate talents, financial products and potential users. (4) The two initiators Wanchain and SuperAtom (incubated by Cheetah Mobile) are all based in China. They both give FinNexus big financial, human-power and community support, with minimum communication cost in the same city. Disadvantages: (1) Activities like ICOs or other forms of public fund-raising are still restricted; (2) The government’s attitude towards the security-like tokens and tokenization is still not clear; (3) Language and time zone discrepancy may cause difficulties. FinNexus is aiming to build a global open finance protocol. Blockchain should be boundless, and so will be our users and assets. Our first product’s basic asset is in SE Asia. We are now building teams, grouping communities, and recruiting regional ambassadors. Also, we are making continuous and effective interactions with the global communities of Wanchain and Bitrue. 7. 🏆 FinNexus’s team consists of experienced and brilliant individuals. What made them to unite together and work in unison for the fulfilment of it and how does it act as an advantage compared to other projects in terms of brainstorming and guidance? @cryptollll Though key members of FinNexus team seem to have different educational backgrounds or working experiences, we come together with the same beliefs and goals. The same purpose has united us together and after grinding-in over one and a half years, we are working together energetically and harmoniously, which provides a foundation for the success of FinNexus. It is not the first time we work together and we knew each other with for long time. The details of resumes are on the website. 8. 🏆 Many blockchain projects and companies focus on making very complex systems, say they will revolutionize the society, and help the unbanked. Since you work directly in the area, how realistic do you think such statements are? @lucbazanse The team has been working together for more than a year already. FinNexus is a project at the layer 3 level in the blockchain system, targeting at the application usage. The team believes that no matter how innovative or revolutionary a new technology is, if it fails to be conveniently applied in everyday use or have efficient or cost-saving solutions to users, we cannot call it a successful technology. Therefore, we will build our application on top of the successful public chains and concentrate in providing financially practical and risk diversified products and user friendly applications. We doubt that the unbanked can be helped by a complex system. Unbanked group of people usually exist in the less developed regions that lack basic infrastructure. They may not well educated or lack the basic understanding of the technology or even ideas of modern financial or banking system. Therefore, the application is most important. A successful project should provide them with friendly interfaces and convenient accesses, aiming directly to their basic needs, no matter how complex or innovative the technology is. That’s what FinNexus is trying to do, to provide what is needed the most in a simple and understandable way. 9. 🏆 Which way you will offer token sale? We create a new way of the token sales together with launching our products. FinNexus’ will issue its CFNC (convertible FNC), which gives holders the right to convert into ABT in the conversion period. The holders of ABT are eligible to the benefit with an annualized rate of return at over 10%. ABT is called the Asset Backed Token in general, in specific, the return of the token is backed by the consumer loan assets in Indonesia, with the originator SuperAtom, which is initiated by the NYSE listed company Cheetah Mobile, as the basic asset. It has a traditional hierarchical design and the ABT is the token in the senior tranche. The details will be disclosed in the Offering Circular on the FinNexus website later. We strongly recommend the interested blockchainers to check the details on www.finnexus.io 10. 🏆 Can you tell more about road-map for future developments? @toanphamhd In phase one, before the end of 2019 or early in 2020, FinNexus is introducing ICTO, combining the fund raising process with its products. Instruments with the essentials of ABT are likely to be one of the major products offered to users, with different systematic risks from the crypto assets. Before the first quarter of 2020, other products like the borrowing and lending, hedging, ETF and staking are likely to be issued, as well as the other schemes of the ABT products. FinNexus will also cooperate with at least three of the token exchanges, crypto wallets or other channels as the sale portals. In phase two, before the end of 2020, FinNexus will search for the qualified assets globally and combine the blockchain technology with the real world application scenarios in vaster occasions. And FinNexus work with other mainnet projects to launch its new products and interactions with the chain tokens. Moreover, FinNexus will facilitate the trade of the ABT and other similar products on the OTC market. The experience of the traditional financial market shows that the OTC transactions of these products have even higher volume than the bidding mode in the exchanges. In the third phase, in three years, FinNexus’ goal is to build an open finance protocol. This protocol is established on Layer 3, targeted on the application level. It will provide the basic standard for the tokenization and transaction for all types of assets, both in traditional finance and in the crypto world. All assets that provide future returns will be programmable with blockchain in the future and FinNexus is defining a protocol that provides the standards and convenience in realization. Different assets may apply to various requirements in details, but the common language lying in is what FinNexus is chasing for. While in the coming days, we would expect 1) the release of the detailed conversion and subscription rules on the website; 2) the release of the ABT offering circular to give a detailed explanation on the risks and returns; 3) setting the timetable for offering and listing of FNC.
RUNNER UP QUESTIONS
11. What is the current development progress of the project, and when is the main online release? @btc4life76 The first product will be released together with ICTO process, details of which you may check on the FinNexus website. Right now, the product is under the final stage of development and the team are working on the necessary information disclosure materials and the design of tokens on Wanchain. The planned release time will be before the end of this year or early next year. 12. “What are the recent change in high-level strategy in product design and development? How will it help the #FinNexus to move further with the safest & fastest Blockchain technology?” @ahmetumit08 FinNexus is a project built on layer 3 and concentrates on technological application. ‘We are the portal to the users and we need to make it simple, convenient, understandable and transparent’. The advantage does not lie in the sophistication of the underlying technology, but in the application level. To establish an Open Finance Protocol, FinNexus has to move earlier and faster than the others, and at present, it is the first in the industry to put forward this concept. In product development, we will make each code be used in real use case and keep improving in practice. In the beginning, we will built a layer 3 for assets tokenization and distribution, fee and interests distribution, buying and withdrawing. Users (business users) do not need to connect public chains, but use our SDK or API to interact with different chains. Recently we are focusing on protocols with smart contracts that asset tokenization could be easily deployed by FNX layer 3. And then we will focus on the protocol of decentralized token distribution. That means anyone who wants to sell assets tokens in FinNexus only need to download our SDK or connect our API. 13. How many different types of assets can be expected in the first quarter of 2020 . What will be the jurisdiction of assets and how will FinNexus avoid people from holding assets from restricted jurisdictions? @anon As a project incubated by SuperAtom, the UangMe assets will work as an initiator, and it has the potential of the amount of 100M USD. In the meantime, similar assets in Malaysia are under discussion. In addition, there will be other types of products the users may expect in the first quarter of 2020, like crypto borrowing and lending products, easy-operating crypto-currency derivatives, ETF products, staking related products, etc., and they are all under development right now. We have a legal team that help us deal with the jurisdiction issues. We will monitor the changing legal environment around the main countries and regions. KYC procedures are necessary for avoiding investors from holding assets from restricted jurisdictions. 14. How FinNexus and Wanchain both can get benefitted using each others protocol? @salmanmbstu96 FinNexus is the layer 3 which can make users, especially business users, to use Wanchain easily in financial aspects. And FinNexus focuses on different assets, that could grant Wanchain with more applications to run. In most of financial scenarios, multi-coin will be used, so we can use the cross-chain protocol of Wanchain. If Wanchain protocol is like a highway road, FinNexus protocol is working as an assembly line. 15. What do you think about Defi Landscape right now? @paraphan1992 Now, many DeFi projects are limited to the products and applications with the pure crypto assets. They can be highly decentralized and automated, but is it enough? 1) Borrowing and Lending is the first natural DeFi application scenario and contributes to over 90% of the application scenarios. It cannot be everything about DeFi. The growth of the DeFi should be largely diversified to other assets and business models. 2) The risks in the DeFi world is similar, in other words, most of the DeFi models are facing the same systematic risks, which are with high risk and high expected return characteristics. In cases when the bitcoin collapses, every businesses and scenarios will be affected. This is not healthy. Tokens transactions with high risks and the relating credit activities cannot be the whole world of DeFi. FinNexus is trying to introduce financial products with different types and levels of risks and expected returns, to enrich the products desperately needed in the industry. 3) The DeFi applications are not so user-friendly. One has to take some time to learn how to deal with one decentralized product. FinNexus aims at providing something that is transparent with the information needed for the investors to make judgment while easy to handle. Right now, Maker is trying to move to Multi-Collateral Dai (MCD), a big step to make the DeFi model richer and healthier. Also they introduce Dai Savings Rate (DSR), which may have the potential to be regarded as one of the standard rates. In the future, we may witness wider real world assets and application scenarios in DeFi and that is the path that DeFi is bound to follow. 16. Can FinNexus support smart contracts? @btc4life76 The answer is yes, smart contracts will play important roles in the FinNexus products. The first phase of products will be built on Wanchain and according to the ICTO rules, the ABT conversion and the future payment of principal and interest of ABT will all be supported by smart contracts. Again, for details of ICTO please check our website. In later phases ,we will develop other products based on ETH or other chains according to the users’ requirements and asset characteristics; and smart contracts will be richer and more diversified. 17. Why do we need DEFI? What is the new thing that DeFi bring to us? Was your project born for that? @oluap5773 A: The decentralized blockchain technology needs application scenarios, and the finance needs the innovative technology to solve its own problems, thus here comes the merge of the two. Bitcoin brings the blockchain technology into our sight and until now, it has 70% of the total value of crypto assets. Bitcoin is born to facilitate the financial transactions and most of the project henceforth cannot be isolated from the financial fields. There is an inevitable bond since the birth of the technology, and finance is always the natural experimental field of blockchain. The problem of information asymmetry is always puzzling investors and regulators. Most of the solution came from a centralized way from the authorities before, while the result was much diversified among regions. With the emergence of blockchain, it provides an alternative solution to this long-lasting issue. It is trustworthy, non-modifiable and self-proved. Moreover, it is bondless and anti-authorized, which can largely reduce the cost of international transactions while enhancing the efficiency. The technology is self-organized, decentralized and automated. DeFi has the potential to change the governance structure and investment behavior in the financial world. Tens of years ago, the internet has brought finance efficiency and popularization. Today blockchain is about to change the financial system again. It introduces the participants into a new territory that is bondless, decentralized, trustworthy, and equal. It will largely decrease the cost of centralized supervision, the risk of information asymmetry and the barrier among economic entities. Many business formats will change concerning the technology, including the economic entities, governance authorities, market intermediaries, exchanges and the transaction behavior of investors. For example, in the future, it is expected that the basic bookkeeping of a business entity will be on blockchain, and all of the operational activities like procurement, production, sales, inventories, invoices, taxations, employments, etc., will be dealt with and recorded in a decentralized way. Therefore, the auditors’ jobs are shifting from the bookkeeping test of accuracy to the verification of the validity of the chain. Of course, FinNexus is born to be part of the big change, and we strive to be one of the driving forces of the financial decentralization progress. The goal of FinNexus is to build an Open Finance Protocol. The protocol is like a channel or a standard, to allow all kinds of assets, whether decentralized or centralized, whether with characteristics of equity, debenture, derivative or other hybrid, to find its path towards tokenization with the blockchain technology. By maintaining the basic business logic and learning from the traditional financial model, FinNexus will combine with the advantages of the blockchain technology, to make investors truly benefit from decentralization. 18. Which target users does FinNexus aim to serve? Will its technology be easy for participants to use but still ensure open, transparent and equal way? @paraphan1992 FinNexus aims to serve those who know blockchain and have invested in crypto assets or DeFi products, those who know real world investment but little about blockchain, and those who know little about crypto assets or financial investment but interested in the blockchain technology and curious on the virtual assets. The meaning of ‘Nexus’ has many parts, and one is to make connections with different market participants. FinNexus will work through protocols and try to act as a channel. In future stages, it will make connections with the OTC markets providing fiat and crypto currency exchanges. Through these protocols, non-crypto users will be able to invest in the FinNexus products. As FinNexus is built on Layer 3, the protocol will be built combining the decentralized and centralized solution. User-friendliness is a must. By means of easy interfaces, full information disclosure and integrated protocols, users with various degree of knowledge and different risk tolerance are able to get their suitable investment, easily and transparently. whether decentralization or centralization, are means not targets. Openness, transparency and equality are necessary to lower credit risks in financial activities. The subscription, transaction, interaction and distribution of financial products will be on chain in a decentralized way, implemented by smart contracts; while the information disclosure, real assets collateral and basic assets operation will be off chain in a centralized way. FinNexus protocols will work to achieve such goals.
Cardano (ADA) was created by a team led by Charles Haskinson, who previously worked on Ethereum, but left the number of cryptocurrency developers before the ICO. In 2014, he and Jeremy wood formed IOHK. In the same year, a group of Japanese investors signed a 6-year contract with this firm to create a blockchain project based on the use of algorithms for independent execution of exchange operations with different types of assets. https://preview.redd.it/2i65etfaxmt31.png?width=308&format=png&auto=webp&s=29c9fbda1552a59c33452e60afb1bd1b8d6c3d48 The platform was named after Gerolamo Cardano, an Italian mathematician, engineer, philosopher and astrologer. The Ada token was composed of 3 letters of the scientist's surname so that the name of the world's first female programmer-Ada Lovelace - turned out. The currency ICO was held in several stages in 2015-2017. as a result, $62 million was collected during operations only within the ADA Coin system. Until 2019, the developers plan to launch a number of decentralized applications and services for the implementation of smart contracts. In the beginning, the team warned that the low speed of operations (only 5-10 transactions per second) can affect the rate of cryptocurrency. Experts plan to increase the speed of transactions by introducing the system of bandwidth nodes, the Protocol of which will be written in the programming language Haskell. Also prevent the success of the project could reputation of the author of the idea of Charles Hoskinson, who left his previous job without explanation. But the cost of the coin was not affected by these factors, the prospects for the project are good. Cardano Presentation The success of the project is also facilitated by the fact that it is engaged in 3 institutions performing different functions:
IOHK is responsible for the construction of the siege system. This institution is engaged in the technical side of the platform, its improvement.
The Cardano Foundation is located in Switzerland. Responsible for the control of the organization and its development, standardization and protection of technologies.
Emurgo is based on the Isle of man. The organization was created to promote the company's products in the market.
The goal of the creators of the project is a sustainable system that is able to attract investment and thereby support itself.
MAIN FEATURES OF CARDANO COIN
Cardano (ADA) is a cryptocurrency whose task is to secure smart contracts between users on terms beneficial to both parties. Such principles of asset exchange will be the basis for further development of digital currencies. The Ada token has many pluses, but there are also minuses.
Democracy in the control of transactions and mining.
Scientific approach in the development of the mathematical block of the platform, allowing to have a good traffic generation.
High degree of protection against hacker attacks.
Protection of users from unscrupulous partners.
Using test software.
Incomplete platform management.
No protocols for long-term planning.
Insufficient control over the data provided by users.
HOW TO MINE CARDANO
The Cardano platform is based on the Proof of Stake algorithm. This means that the chances of a miner to create a block are directly proportional to the assets available to him, the results of work on solving a mathematical problem do not matter.
Advantages of Cardano mining:
No expensive equipment is required.
Don't need a lot of electricity.
WHERE AND HOW TO BUY CARDANO ADA CRYPTOCURRENCY
Cardano coins are traded in pairs with other cryptocurrencies on most exchanges (Finance, Bitrix, Http, Upbit, Bithumb, Cryptopia, etc.). There are exchangers (Prostocash, Xchange, 60 cek) and Exmo exchange, where you can buy Cardano cryptocurrency for rubles and other Fiat currency, after exchanging it for bitcoins or ethers. You can pay in exchangers via PayPal or Bank card. Purchase instructions ADA:
To buy in exchange for Bitcoin or Etherium.
Register on the exchange and install a wallet with Cardano support.
Exchange purchased bitcoins or ethers for Cardano.
Withdraw ADA to wallet.
Purchase on Binance Crypto exchanges provide the ability to store funds, but it is better to withdraw tokens to the wallet immediately after purchase. If this is not possible, you should take care of the security of your account. Asset storage is better not to trust little-known exchanges.
Until March 2018, the only e-wallet in which ADA could be stored was Daedalus. There are versions for Windows, Mac and Linux. The wallet is suitable for anonymous transactions. The Cardano team plans to issue a debit card that can be replenished through this e-wallet. Daedalus installation instructions:
Find the Get started tab and go to Deadalus wallet.
Click on Download, download the app.
Open the file, configure the installation settings.
https://preview.redd.it/tyomywqj2nt31.png?width=400&format=png&auto=webp&s=d0cf94f05c85c2205abde505831e5aeaca03dd8e In March, it became possible to store ADA tokens in the Centra wallet. This means that the currency can be withdrawn using the Centra card in 36 million terminals around the world. Web wallets are popular because of convenience. Many sites offer to download them to store ADA, but this should not be done, so as not to fall for the tricks of scammers. On the official website of the company there is no data on cooperation with owners of online wallets.
WHAT ARE THE PROSPECTS FOR THE ADA CRYPTOCURRENCY
Given the big plans of Cardano developers, the forecast for 2020 regarding this cryptocurrency is good. If the team implements its ideas to expand the use of coins, ADA may become popular in the market after a while, despite the fall in user confidence in cryptocurrencies. Road map of Cardano The author of the platform Hoskinson said that the work on scaling the data will not yield results until 2019. Developers want to introduce innovative technologies into their project, their creation and research takes a lot of time. By the end of the year, it is planned to standardize the protocols and improve the reliability of the system, but the achievement of these goals may be delayed due to the complexity of the ideas. At this stage of operation of the platform, information about the use of high technologies in support of Cardano's work is not proven. Cryptocurrency faces competition among firms providing such services. It interferes with its development. Specialists working on improving Litecoin and Dash use similar principles when conducting transactions. Ripple plans to become an element combining currencies recognized as official and digital assets, making it more attractive to investors. The exclusivity of the project is that its development is scientifically justified. But this is not a significant advantage, as most traders do not want to spend time figuring out the details of the technical side of the project, and are interested in its functionality. If the Cardano project team fulfills its plans by the end of the year, the prospect of this currency is quite good. The success of ADA depends on how convenient the token will be to use.
On May 6th, 2017, Bitcoin hit an all-time high in transactions processed on the network in a single day: it moved 375,000 transactions which accounted for a nominal output of about $2.5b. Average fees on the Bitcoin network had climbed over a dollar for the first time a couple days prior. And they kept climbing: by early June average fees hit an eye-watering $5.66. This was quite unprecedented. In the three-year period from Jan. 1 2014 to Jan. 1 2017, per-transaction fees had never exceeded 31 cents on a weekly average. And the hits kept coming. Before 2017 was over, average fees would top out at $48 on a weekly basis. When the crypto-recession set in, transaction count collapsed and fees crept back below $1. During the most feverish days of the Bitcoin run-up, when normal users found themselves with balances that would cost more to send than they were worth, cries for batching — the aggregation of many outputs into a single transaction — grew louder than ever. David Harding had written a blog post on the cost-savings of batching at the end of August and it was reposted to the Bitcoin subreddit on a daily basis. The idea was simple: for entities sending many transactions at once, clustering outputs into a single transaction was more space- (and cost-) efficient, because each transaction has a fixed data overhead. David found that if you combined 10 payments into one transaction, rather than sending them individually, you could save 75% of the block space. Essentially, batching is one way to pack as many transactions as possible into the finite block space available on Bitcoin. When fees started climbing in mid-2017, users began to scrutinize the behavior of heavy users of the Bitcoin blockchain, to determine whether they were using block space efficiently. By and large, they were not — and an informal lobbying campaign began, in which these major users — principally exchanges — were asked to start batching transactions and be good stewards of the scarce block space at their disposal. Some exchanges had been batching for years, others relented and implemented it. The question faded from view after Bitcoin’s price collapsed in Q1 2018 from roughly $19,000 to $6000, and transaction load — and hence average fee — dropped off. But we remained curious. A common refrain, during the collapse in on-chain usage, was that transaction count was an obfuscated method of apprehending actual usage. The idea was that transactions could encode an arbitrarily large (within reason) number of payments, and so if batching had become more and more prevalent, those payments were still occurring, just under a regime of fewer transactions. “hmmm” Some sites popped up to report outputs and payments per day rather than transactions, seemingly bristling at the coverage of declining transaction count. However, no one conducted an analysis of the changing relationship between transaction count and outputs or payments. We took it upon ourselves to find out. Table Of Contents: Introduction to batching A timeline Analysis Conclusion Bonus content: UTXO consolidation
Introduction to batching
Bitcoin uses a UTXO model, which stands for Unspent Transaction Output. In comparison, Ripple and Ethereum use an account/balance model. In bitcoin, a user has no balances, only UTXOs that they control. If they want to transfer money to someone else, their wallet selects one or more UTXOs as inputs that in sum need to add up to the amount they want to transfer. The desired amount then goes to the recipient, which is called the output, and the difference goes back to the sender, which is called change output. Each output can carry a virtually unlimited amount of value in the form of satoshis. A satoshi is a unit representing a one-hundred-millionth of a Bitcoin. This is very similar to a physical wallet full of different denominations of bills. If you’re buying a snack for $2.50 and only have a $5, you don’t hand the cashier half of your 5 dollar bill — you give him the 5 and receive some change instead. Unknown to some, there is no hardcoded limit to the number of transactions that can fit in a block. Instead, each transaction has a certain size in megabytes and constitutes an economic incentive for miners to include it in their block. Because miners have limited space of 2 MB to sell to transactors, larger transactions (in size, not bitcoin!) will need to pay higher fees to be included. Additionally, each transaction can have a virtually unlimited number of inputs or outputs — the record stands at transactions with 20,000 inputs and 13,107 outputs. So each transaction has at least one input and at one output, but often more, as well as some additional boilerplate stuff. Most of that space is taken up by the input (often 60% or more, because of the signature that proves they really belong to the sender), while the output(s) account for 15–30%. In order to keep transactions as small as possible and save fees, Bitcoin users have two major choices: Use as few inputs as possible. In order to minimize inputs, you can periodically send your smaller UTXOs to yourself in times when fees are very low, getting one large UTXO back. That is called UTXO consolidation or consolidating your inputs. Users who frequently make transfers (especially within the same block) can include an almost unlimited amount of outputs (to different people!) in the same transaction. That is called transaction batching. A typical single output transaction takes up 230 bytes, while a two output transaction only takes up 260 bytes, instead of 460 if you were to send them individually. This is something that many casual commentators overlook when comparing Bitcoin with other payment systems — a Bitcoin transaction can aggregate thousands of individual economic transfers! It’s important to recognize this, as it is the source of a great deal of misunderstanding and mistaken analysis. We’ve never encountered a common definition of a batched transaction — so for the purposes of this study we define it in the loosest possible sense: a transaction with three or more outputs. Commonly, batching is understood as an activity undertaken primarily by mining pools or exchanges who can trade off immediacy for efficiency. It is rare that a normal bitcoin user would have cause to batch, and indeed most wallets make it difficult to impossible to construct batched transactions. For everyday purposes, normal bitcoiners will likely not go to the additional effort of batching transactions. We set the threshold at three for simplicity’s sake — a normal unbatched transaction will have one transactional output and one change output — but the typical major batched transaction from an exchange will have dozens if not hundreds of outputs. For this reason we are careful to provide data on various different batch sizes, so we could determine the prevalence of three-output transactions and colossal, 100-output ones. We find it helpful to think of a Bitcoin transaction as a mail truck full of boxes. Each truck (transaction) contains boxes (outputs), each of contains some number of letters (satoshis). So when you’re looking at transaction count as a measure of the performance and economic throughput of the Bitcoin network, it’s a bit like counting mail trucks to discern how many letters are being sent on a given day, even though the number of letters can vary wildly. The truck analogy also makes it clear why many see Bitcoin as a settlement layer in the future — just as mail trucks aren’t dispatched until they’re full, some envision that the same will ultimately be the case for Bitcoin. Batching
So what actually happened in the last six months? Let’s look at some data. Daily transactions on the Bitcoin network rose steadily until about May 2017, when average fees hit about $4. This precipitated the first collapse in usage. Then began a series of feedback loops over the next six months in which transaction load grew, fees grew to match, and transactions dropped off. This cycle repeated itself five times over the latter half of 2017. more like this on coinmetrics.io The solid red line in the above chart is fees in BTC terms (not USD) and the shaded red area is daily transaction count. You can see the cycle of transaction load precipitating higher fees which in turn cause a reduction in usage. It repeats itself five or six times before the detente in spring 2018. The most notable period was the December-January fee crisis, but fees were actually fairly typical in BTC terms — the rising BTC price in USD however meant that USD fees hit extreme figures. In mid-November when fees hit double digits in USD terms, users began a concerted campaign to convince exchanges to be better stewards of block space. Both Segwit and batching were held up as meaningful approaches to maximize the compression of Bitcoin transactions into the finite block space available. Data on when exchanges began batching is sparse, but we collected information where it was available into a chart summarizing when exchanges began batching. Batching adoption at selected exchanges We’re ignoring Segwit adoption by exchanges in this analysis; as far as batching is concerned, the campaign to get exchanges to batch appears to have persuaded Bitfinex, Binance, and Shapeshift to batch. Coinbase/GDAX have stated their intention to begin batching, although they haven’t managed to integrate it yet. As far as we can tell, Gemini hasn’t mentioned batching, although we have some mixed evidence that they may have begun recently. If you know about the status of batching on Gemini or other major exchanges please get in touch. So some exchanges have been batching all along, and some have never bothered at all. Did the subset of exchanges who flipped the switch materially affect the prevalence of batched transactions? Let’s find out.
3.1 How common is batching? We measured the prevalence of batching in three different ways, by transaction count, by output value and by output count. The tl;dr. Batching accounts for roughly 12% of all transactions, 40% of all outputs, and 30–60% of all raw BTC output value. Not bad. 3.2 Have batched transactions become more common over time? From the chart in 3.1, we can already see a small, but steady uptrend in all three metrics, but we want to dig a little deeper. So we first looked at the relationship of payments (all outputs that actually pay someone, so total outputs minus change outputs) and transactions. More at transactionfee.info/charts The first thing that becomes obvious is that the popular narrative — that the drop in transactions was caused by an increase in batching — is not the case; payments dropped by roughly the same proportion as well. Dividing payment count by transaction count gives us some insight into the relationship between the two. In our analysis we want to zoom into the time frame between November 2017 and today, and we can see that payments per transactions have actually been rallying, from 1.5 payments per transaction in early 2017 to almost two today. 3.3 What are popular batch sizes? In this next part, we will look at batch sizes to see which are most popular. To determine which transactions were batched, we downloaded a dataset of all transactions on the Bitcoin network between November 2017 and May 2018from Blockchair. We picked that period because the fee crisis really got started in mid-November, and with it, the demands for exchanges to batch. So we wanted to capture the effect of exchanges starting to batch. Naturally a bigger sample would have been more instructive, but we were constrained in our resources, so we began with the six month sample. We grouped transactions into “batched” and “unbatched” groups with batched transactions being those with three or more outputs. We then divided batched transactions into roughly equal groups on the basis of how much total output in BTC they had accounted for in the six-month period. We didn’t select the batch sizes manually — we picked batch sizes that would split the sample into equal parts on the basis of transaction value. Here’s what we ended up with: All of the batch buckets have just about the same fraction of total BTC output over the period, but they account for radically different transaction and output counts over the period. Notice that there were only 183,108 “extra large” batches (with 41 or more outputs) in the six-month period, but between them there were 23m outputs and 30m BTC worth of value transmitted. Note that output value in this context refers to the raw or unadjusted figure — it would have been prohibitively difficult for us to adjust output for change or mixers, so we’re using the “naive” estimate. Let’s look at how many transactions various batch sizes accounted for in the sample period: Batched transactions steadily increased relative to unbatched ones, although the biggest fraction is the small batch with between 3 and 5 outputs. The story for output counts is a bit more illuminating. Even though batched transactions are a relatively small fraction of overall transaction count, they contain a meaningful number of overall outputs. Let’s see how it breaks down: Lastly, let’s look at output value. Here we see that batched transactions represent a significant fraction of value transmitted on Bitcoin. As we can see, even though batched transactions make up an average of only 12% of all transactions, they move between 30%-60% of all Bitcoins, at peak times even 70%. We think this is quite remarkable. Keep in mind, however that the ‘total output’ figure has not been altered to account for change outputs, mixers, or self-churn; that is, it is the raw and unadjusted figure. The total output value is therefore not an ideal approximation of economic volume on the Bitcoin network. 3.4 Has transaction count become an unreliable measure of Bitcoin’s usage because of batching? Yes. We strongly encourage any analysts, investors, journalists, and developers to look past mere transaction count from now on. The default measure of Bitcoin’s performance should be “payments per day” rather than transaction count. This also makes Bitcoin more comparable with other UTXO chains. They generally have significantly variable payments-per-transaction ratios, so just using payments standardizes that. (Stay tuned: Coinmetrics will be rolling out tools to facilitate this very soon.) More generally, we think that the economic value transmitted on the network is its most fundamental characteristic. Both the naive and the adjusted figures deserve to be considered. Adjusting raw output value is still more art than science, and best practices are still being developed. Again, Coinmetrics is actively developing open-source tools to make these adjustments available.
We started by revisiting the past year in Bitcoin and showed that while the mempool was congested, the community started looking for ways to use the blockspace more efficiently. Attention quickly fell on batching, the practice of combining multiple outputs into a single transaction, for heavy users. We showed how batching works on a technical level and when different exchanges started implementing the technique. Today, around 12% of all transactions on the Bitcoin network are batched, and these account for about 40% of all outputs and between 30–60% of all transactional value. The fact such that a small set of transactions carries so much economic weight makes us hopeful that Bitcoin still has a lot of room to scale on the base layer, especially if usage trends continue. Lastly, it’s worth noting that the increase in batching on the Bitcoin network may not be entirely due to deliberate action by exchanges, but rather a function of its recessionary behavior in the last few months. Since batching is generally done by large industrial players like exchanges, mixers, payment processors, and mining pools, and unbatched transactions are generally made by normal individuals, the batched/unbatched ratio is also a strong proxy for how much average users are using Bitcoin. Since the collapse in price, it is quite possible that individual usage of Bitcoin decreased while “industrial” usage remained strong. This is speculation, but one explanation for what happened. Alternatively, the industrial players appear to be taking their role as stewards of the scarce block space more seriously. This is a significant boon to the network, and a nontrivial development in its history. If a culture of parsimony can be encouraged, Bitcoin will be able to compress more data into its block space and everyday users will continue to be able to run nodes for the foreseeable future. We view this as a very positive development. Members of the Bitcoin community that lobbied exchanges to add support for Segwit and batching should be proud of themselves.
Bonus content: UTXO consolidation
Remember that we said that a second way to systematically save transaction fees in the Bitcoin network was to consolidate your UTXOs when fees were low? Looking at the relationship between input count and output count allows us to spot such consolidation phases quite well. Typically, inputs and outputs move together. When the network is stressed, they decouple. If you look at the above chart carefully, you’ll notice that when transactions are elevated (and block space is at a premium), outputs outpace inputs — look at the gaps in May and December 2017. However, prolonged activity always results in fragmented UTXO sets and wallets full of dust, which need to be consolidated. For this, users often wait until pressure on the network has decreased and fees are lower. Thus, after transactions decrease, inputs become more common than outputs. You can see this clearly in February/March 2017. Here we’ve taken the ratio of inputs to outputs (which have been smoothed on a trailing 7 day basis). When the ratio is higher, there are more inputs than outputs on that day, and vice versa. You can clearly see the spam attack in summer 2015 in which thousands (possibly millions) of outputs were created and then consolidated. Once the ratio spikes upwards, that’s consolidation. The spike in February 2018 after the six weeks of high fees in December 2017 was the most pronounced sigh of relief in Bitcoin’s history; the largest ever departure from the in/out ratio norm. There were a huge number of UTXOs to be consolidated. It’s also interesting to note where inputs and outputs cluster. Here we have histograms of transactions with large numbers of inputs or outputs. Unsurprisingly, round numbers are common which shows that exchanges don’t publish a transaction every, say, two minutes, but instead wait for 100 or 200 outputs to queue up and then publish their transaction. Curiously, 200-input transactions were more popular than 100-input transactions in the period. We ran into more curiosities when researching this piece, but we’ll leave those for another time. Future work on batching might focus on: Determining batched transactions as a portion of (adjusted) economic rather than raw volume Looking at the behavior of specific exchanges with regards to batching Investigating how much space and fees could be saved if major exchanges were batching transactions Lastly, we encourage everyone to run their transactions through the service at transactionfee.info to assess the efficiency of their transactions and determine whether exchanges are being good stewards of the block space. Update 31.05.2018 Antoine Le Calvez has created a series of live-updated charts to track batching and batch sizes, which you can find here. We’d like to thank 0xB10C for their generous assistance with datasets and advice, the people at Blockchair for providing the core datasets, and David A. Harding for writing the initial piece and answering our questions.
I wrote a 30,000 ft. "executive summary" intro document for cryptos. Not for you, for your non-technical parents or friends.
This document was originally written for my dad, an intelligent guy who was utterly baffled about the cryptocurrency world. The aim was to be extremely concise, giving a broad overview of the industry and some popular coins while staying non-technical. For many of you there will be nothing new here, but recognize that you are in the 0.001% of the population heavily into crypto technology. I've reproduced it for Reddit below, or you can find the original post here on my website. Download the PDF there or hit the direct link: .PDF version. Donations happily accepted:
This document is purely informational. At the time of writing there are over 1000 cryptocurrencies (“cryptos”) in a highly volatile, high risk market. Many of the smaller “altcoins” require significant technical knowledge to store and transact safely. I advise you to carefully scrutinize each crypto’s flavor of blockchain, potential utility, team of developers, and guiding philosophy, before making any investment  decisions. With that out of the way, what follows are brief, extremely high-level summaries of some cryptos which have my interest, listed in current market cap order. But first, some info: Each crypto is a different implementation of a blockchain network. Originally developed as decentralized digital cash, these technologies have evolved into much broader platforms, powering the future of decentralized applications across every industry in the global economy. Without getting into the weeds,  most cryptos work on similar principles: Distributed Ledgers Each node on a blockchain network has a copy of every transaction, which enables a network of trust that eliminates fraud.  Decentralized “Miners” comprise the infrastructure of a blockchain network.  They are monetarily incentivized to add computing power to the network, simultaneously securing and processing each transaction.  Peer-to-peer Cryptos act like digital cash-- they require no third party to transact and are relatively untraceable. Unlike cash, you can back them up. Global Transactions are processed cheaply and instantly, anywhere on Earth. Using cryptos, an African peasant and a San Francisco engineer have the same access to capital, markets, and network services. Secure Blockchains are predicated on the same cryptographic technology that secures your sensitive data and government secrets. They have passed seven years of real-world penetration testing with no failures. 
The first cryptocurrency. As with first movers in any technology, there are associated pros and cons. Bitcoin has by far the strongest brand recognition and deepest market penetration, and it is the only crypto which can be used directly as a currency at over 100,000 physical and web stores around the world. In Venezuela and Zimbabwe, where geopolitical events have created hyperinflation in the centralized fiat currency, citizens have moved to Bitcoin as a de facto transaction standard.  However, Bitcoin unveiled a number of issues that have been solved by subsequent cryptos. It is experiencing significant scaling issues, resulting in high fees and long confirmation times. The argument over potential solutions created a rift in the Bitcoin developer community, who “forked” the network into two separate blockchains amidst drama and politicking in October 2017. Potential solutions to these issues abound, with some already in place, and others nearing deployment. Bitcoin currently has the highest market cap, and since it is easy to buy with fiat currency, the price of many smaller cryptos (“altcoins”) are loosely pegged to its price. This will change in the coming year(s).
Where Bitcoin is a currency, Ethereum is a platform, designed as a foundational protocol on which to develop decentralized applications (“Dapps”). Anyone can write code and deploy their program on the global network for extremely low fees. Just like Twitter wouldn’t exist without the open platform of the internet, the next world-changing Dapp can’t exist without Ethereum. CurrentDapps include a global market for idle computing power and storage, peer-to-peer real estate transactions (no trusted third party for escrow), identity networks for governments and corporations (think digital Social Security card), and monetization strategies for the internet which replace advertising. Think back 10 years to the advent of smartphones, and then to our culture today-- Ethereum could have a similar network effect on humanity. Ethereum is currently the #2 market cap crypto below Bitcoin, and many believe it will surpass it in 2018. It has a large, active group of developers working to solve scaling issues,  maintain security, and create entirely new programming conventions. If successful, platforms like Ethereum may well be the foundation of the decentralized internet of the future.
Ripple is significantly more centralized than most crypto networks, designed as a backbone for the global banking and financial technology (“fintech”) industries. It is a network for exchanging between fiat currencies and other asset classes instantly and cheaply, especially when transacting cross-border and between separate institutions. It uses large banks and remittance companies as “anchors” to allow trading between any asset on the network, and big names like Bank of America, American Express, RBC, and UBS are partners. The utility of this network is global and massive in scale. It is extremely important to note that not all cryptos have the same number of tokens. Ripple has 100 Billion tokens compared to Bitcoin’s 21 Million. Do not directly compare price between cryptos. XRP will likely never reach $1k,  but the price will rise commensurate with its utility as a financial tool. In some sense, Ripple is anathema to the original philosophical vision of this technology space. And while I agree with the cyberpunk notion of decentralized currencies, separation of money and state, this is the natural progression of the crypto world. The internet was an incredible decentralized wild west of Usenet groups and listservs before Eternal September and the dot-com boom, but its maturation affected every part of global society.
Cardano’s main claim to fame: it is the only crypto developed using academic methodologies by a global collective of engineers and researchers, built on a foundation of industry-leading, peer-reviewed cryptographic research. The network was designed from first-principles to allow scalability, system upgrades, and to balance the privacy of its users with the security needs of regulators. One part of this ecosystem is the Cardano Foundation, a Swiss non-profit founded to work proactively with governments and regulatory bodies to institute legal frameworks around the crypto industry. Detractors of Cardano claim that it doesn’t do anything innovative, but supporters see the academic backing and focus on regulation development as uniquely valuable.
Stellar Lumens (XLM)
Stellar Lumens and Ripple were founded by the same person. They initially shared the same code, but today the two are distinct in their technical back-end as well as their guiding philosophy and development goals. Ripple is closed-source, for-profit, deflationary, and intended for use by large financial institutions. Stellar is open-source, non-profit, inflationary, and intended to promote international wealth distribution. As such, they are not direct competitors. IBM is a major partner to Stellar. Their network is already processing live transactions in 12 currency corridors across the South Pacific, with plans to process 60% of all cross-border payments in the South Pacific’s retail foreign exchange corridor by Q2 2018. Beyond its utility as a financial tool, the Stellar network may become a competitor to Ethereum as a platform for application development and Initial Coin Offerings (“ICOs”). The theoretical maximum throughput for the network is higher, and it takes less computational power to run. The Stellar development team is highly active, has written extensive documentation for third-party developers, and has an impressive list of advisors, including Patrick Collison (Stripe), Sam Altman (Y Combinator), and other giants in the software development community.
Iota was developed as the infrastructure backbone for the Internet of Things (IoT), sometimes called the machine economy. As the world of inanimate objects is networked together, their need to communicate grows exponentially. Fridges, thermostats, self-driving cars, printers, planes, and industrial sensors all need a secure protocol with which to transact information. Iota uses a “Tangle” instead of a traditional blockchain, and this is the main innovation driving the crypto’s value. Each device that sends a transaction confirms two other transactions in the Tanlge. This removes the need for miners, and enables unique features like zero fees and infinite scalability. The supply of tokens is fixed forever at 2.8*1015, a staggeringly large number (almost three thousand trillion), and the price you see reported is technically “MIOT”, or the price for a million tokens.
The most successful privacy-focused cryptocurrency. In Bitcoin and most other cryptos, anyone can examine the public ledger and trace specific coins through the network. If your identity can be attached to a public address on that network, an accurate picture of your transaction history can be built-- who, what, and when. Monero builds anonymity into the system using strong cryptographic principles, which makes it functionally impossible to trace coins,  attach names to wallets, or extract metadata from transactions. The development team actively publishes in the cryptography research community. Anonymous transactions are not new-- we call it cash. Only in the past two decades has anonymity grown scarce in the first-world with the rise of credit cards and ubiquitous digital records. Personal data is becoming the most valuable resource on Earth, and there are many legitimate reasons for law-abiding citizens to want digital privacy, but it is true that with anonymity comes bad actors-- Monero is the currency of choice for the majority of black market (“darknet”) transactions. Similarly, US Dollars are the main vehicle for the $320B annual drug trade. An investment here should be based on the underlying cryptographic research and technology behind this coin, as well as competitors like Zcash. 
Zero fees and instantaneous transfer make RaiBlocks extremely attractive for exchange of value, in many senses outperforming Bitcoin at its original intended purpose. This crypto has seen an explosion in price and exposure over the past month, and it may become the network of choice for transferring value within and between crypto exchanges. Just in the first week of 2018: the CEO of Ledger (makers of the most popular hardware wallet on the market) waived the $50k code review fee to get RaiBlocks on his product, and XRB got listed on Binance and Kucoin, two of the largest altcoin exchanges globally. This is one to watch for 2018. 
Developed as a single answer to the problem of supply-chain logistics, VeChain is knocking on the door of a fast-growing $8 trillion industry. Every shipping container and packaged product in the world requires constant tracking and verification. A smart economy for logistics built on the blockchain promises greater efficiency and lower cost through the entire process flow. Don’t take my word for it-- VeChain has investment from PwC (5th largest US corporation), Groupe Renault, Kuehne & Nagel (world’s largest freight company), and DIG (China’s largest wine importer). The Chinese government has mandated VeChain to serve as blockchain technology partner to the city of Gui’an, a special economic zone and testbed for China’s smart city of the future. This crypto has some of the strongest commercial partnerships in the industry, and a large active development team.
“Investment” is a misnomer. Cryptos are traded like securities, but grant you no equity (like trading currency).
It is impossible to double-spend or create a fake transaction, as each ledger is confirmed against every other ledger.
Some utility token blockchains use DAG networks or similar non-linear networks which don’t require mining.
In practice, these are giant warehouses full of specialized computers constantly processing transactions. Miners locate to the cheapest electricity source, and the bulk of mining currently occurs in China.
Centralized second-layer exchange websites have been hacked, but the core technology is untouched.
Daily analysis of cryptocurrencies 20190831(Market index 20 - Extreme Fear state)
https://preview.redd.it/7msj6y3270k31.jpg?width=1200&format=pjpg&auto=webp&s=b81bd340d7b6cd3d77b347cb3843c7cd074dbf3e Bitcoin’s Google search fever is declining, but RedditBitcoinsubscribers continue to soar Although Bitcoin’s search interest on Google is only a fraction of the end of 2017 (10%), it has been stagnating in the same area for most of the summer, but the subscribers to Bitcoin on Reddit are still Continuous growth. This sub-block now has about 1.125 million users. The bear market does not seem to be a serious blow to Bitcoin interest on Reddit. The popularity of the Bitcoin sub-section continues to skyrocket. It has increased by about 500,000 users since January 2018. The surge in new members in July and August is a positive sign for this already large Reddit community. Currently, this subsection has approximately 1,115 comments and 158 posts per day. The growth of Bitcoin subscribers indicates that the core group of long-term holders is growing. Those who subscribe to sub-sections tend to be more serious about the long-term prospects of Bitcoin, so they are more “informed” about the development of Bitcoin. Indian Economic Times: Indian government considers using blockchain and other technologies to improve e-government The Economic Times issued a statement saying that representatives from state governments discussed how an e-government theme meeting was held earlier this month at Shillong, Shijiazhuang, Meghalaya. Better e-government. The article said that as the Modi government strives to achieve the goal of improving e-government for citizens, blockchain technology, artificial intelligence, virtual reality, drones, cloud computing and other emerging technologies are on the agenda of the Modi government. Japan Financial Services Agency: will strengthen the grasp and analysis of the crypto-asset market trends and strengthen cooperation with international regulatory authorities On August 28th, the Japan Financial Services Agency announced the theme document of the “Practice and Future Policy of Financial Administration to the Present Year”. On the issue of exchange registration and supervision, the Japan Financial Services Agency said it will strengthen the grasp and analysis of the market trend of encrypted assets, and cooperate with relevant departments, independent regulatory agencies, overseas authorities, etc. to implement safety supervision. With regard to the issue of exchange registration review, it is important to ensure predictability and conduct appropriate and effective reviews. For unregistered traders, they will respond promptly and effectively, such as grasping the actual sales situation and issuing a warning letter, and will cooperate with relevant agencies to remind users. In terms of international cooperation, in view of the fact that cryptographic assets are easy to implement cross-border transactions through the Internet, cooperation with overseas authorities will be strengthened through sharing of experiences and play a leading role in international collaboration. Specifically, a second round table on encrypted assets will be held to cooperate with overseas authorities.
Encrypted project calendar（August 31, 2019）
ADX/AdEx:ADEX (ADX) will release the Validator Stack version 2.0 in AugustDADI/DADI:DADI will release the network CLI on August 31, with Stargates to support network services; and release Self Onboarding on the same day to allow the network to be more open.MITH/Mithril:The Mithril (MITH) team decided to implement the first MITH token destruction program on August 31.COS/Contentos:Contentos test network v0.5 “Jupiter” will be launched on August 31, this is the last version of the test before the main online line, alternate release.NOAH/Noah Coin:Noah Coin (NOAH) exchanges the held tokens at BTCNext, ending on August 31st.
Encrypted project calendar（September 01, 2019）
XLM/Stellar:Stellar (XLM) will conduct equity awards in binance on September 1stMHC/MetaHash:MetaHash (MHC) will close all ICO accounts as of September 1 and will permanently close all ICO accounts. All MHCs will need to be transferred to MetaGate Wallet by this date.DGD/DigixDAO:The DigixDAO (DGD) DGXHUB community representative program will be open for application on September 1.
Encrypted project calendar（September 02, 2019）
AE/Aeternity:The third phase of Aeternity token (AE) main network migration will end on September 2nd.PLPillar:The Pillar (PLR) Pillar community will participate in a creative strategy seminar hosted by experiencehaus in London, UK on September 2nd.LA/LAToken:The LAToken (LA) LATOKEN community will host an investor reception in London, England on September 2nd.
Encrypted project calendar（September 03, 2019）
WAN/Wanchain:Wanwei Chain Wanchain (WAN) will be launched on September 3rd based on POS mechanism mining function
Encrypted project calendar（September 04, 2019）
BCH/Bitcoin Cash:The City Conference will be held in North Queensland, Australia from September 4th to 5th, 2019.BETHEBethereum:Bethereum will conduct a user airdrop token plan on September 4th
Encrypted project calendar（September 05, 2019）
CS/Credits:Credits (cs) began to map some of the main network tokens on September 5th.ENG/Enigma:The Enigma(ENG)Enigma community will host a gathering and seminar in Boston on September 5.BTC/Bitcoin:Blockchain Africa conference organizers will host the first cryptocurrency festival in South Africa on September 5.AGI/SingularityNET:SingularityNET (AGI) SingularityNET community Ben Goertzel will attend the Asia Innovation Summit on September 5th and will deliver a speech.
Encrypted project calendar（September 06, 2019）
BTC/Bitcoin: Bakkt official Twitter said that Bakkt Warehouse will begin to provide Bitcoin secure storage services to customers on September 6.VEX/Vexanium:The Vexanium (VEX) DApps competition will end on September 6th with a total of 1.1 million VEX awards, the first of which will receive 350,000 VEX.
Encrypted project calendar（September 20, 2019）
NULS / NULS: The NULS 2.0 Beta hackathon will be held from September 20th to September 21st, 2019.
Bitcoin is trading at lows, so here is an educational chart with an explanation! Well, there’s no assurance in the Crypto market, but the main reason we are tracking a bullish triangle om Bitcoin is that it’s already retraced for 38,2%, which is the most commont retracement for wave 4 and also because of three waves of decline in the first leg. Some ALT coins hit new lows, some of them retraced for 61,8–78,6%, so it can be a perfect time for a reversal. But, we are not sure if there can be something even worse and there’s a chance that BTC loses its dominance for a while in case if we see a deeper flat correction. However, at this stage it’s important to be patient. So, technically speaking, in case if we see a bounce in the Crypto market now at the beginning of September, then we may start considering a bullish triangle. But, if BTC/USD remains bearish and breaks below 9000 key support level, then be aware of a deeper flat correction that can send the price into 8000–7000 support area. Review previous articles:https://firstname.lastname@example.org Twitter：https://twitter.com/mianhuai8 Facebook：https://www.facebook.com/profile.php?id=100022246432745 Telegram： https://t.me/Lay126 LinkedIn：https://www.linkedin.com/in/%E4%BC%9F-%E5%88%98-294a12176/
We would like to thank Qudem for inviting us and hosting this AMA session and community for asking such interesting and high-qualify questions! See full review in our Blog 1. The price of your token continues to go down. What factors do you think influence it and what’s your strategy to keep holding communities attention? 2. Could you share more details about the marketplace you are working on? When is it going to be launched, what products will be there, etc? 3. When will you share the progress made so far with your announced partners? For now the crypto market is a highly speculative market and the token price almost has nothing to do the projects’ progress for most of the projects. IoTeX is such an ambitious project that our goal is to change how the physical world works with the blockchain world and not a lot people can understand our vision and hold the belief of it. So it is not a surprise to me that speculative investors come and go rather than hodl. But I see more and more long term believers are joining us recently, no matter through investment, development and other forms of ways to work with us, which is super encouraging! In addition, it seems like we are in the initial phase of another bull run for the entire crypto market and usually bitcoin is taking the lead but more attention will be shifted to other projects once bitcoin finished its sprint. We have more focus on the underlying privacy/TEE technologies as for now which is innovative, unprecedented and not easy. Once the underlying hardware/protocol is stylized, we will kick off trusted data marketplace project. For partnering with other projects and companies, we are selective because we want to work with our partners seriously rather than for PR purposes. We are working with many projects such as Chainlink (we announced the partnership yesterday), Neutral dollar (stablecoin), Celer (l2 scaling), Harmony (zkp projects) and many other companies from the traditional world. As great and solid progress is made, we will make official announcements. 1. How many nodes do you have ? How many token do you need to run a node? And what are the rewards? 2. “IoTeX and Lineable hope to connect 1,000,000+ Lineable devices to the IoTeX blockchain in 2019.” What is the status thereof? I assume you mean delegate nodes — globally we have ~60 delegates on-board and the top 36 of them are serving the network by producing and validating blocks. We specifically designed the low entry barrier for delegate candidates — one has to stake down 1.2M IOTX and get another 0.8M IOTX from others (including oneself) to be eligible as a delegate candidate. Check out the reward details here; my impression is that the annual return is 10% — 15%. Lineable project is going well. They will host their chain (for orchestrating lora gateways) within IoTeX network. We are kind of slow on the development of subchain SDK given other priorities; and we are actively staffing the team to have more hands working on the subchain SDK. “How did you survive during a long bear market? What difficulties, if any, have been encountered in this period?” What has been the biggest technical challenge that you overcame this year? And what from your pov is the biggest one to come , this year and beyond? Do you see IoTeX having a role in home surveillance and home automation some day — and of what kind? To be honest, I don’t have a strong feeling about the bear market in the past year since we have been so focused on building things :) I am an early bitcoin investor and user and tell me about the bear markets — bitcoin has been through many much tougher market situations and it is true that a blockchain project (including its token) becomes valuable only after being through tough times! In terms of the technical challenge, it is an interesting topic. We used to have lots of internal discussions around the technical roadmap — opinion 1 is to develop a useful blockchain by focusing more on the application/user-facing features while option 2 is to focus on the moonshot features which will likely not useful in the near term but important for the future. Both of them are legit and great. I would think option 1 may partly because the aforementioned “bear market” made people more realistic and desperately want a landing case for blockchain. Still, we decide to go for option 2 since we are an ambitious project for changing the world. The biggest one to come this year and beyond is decentralization — I feel like the industry focus is slightly off the right track as it puts too much attention on scalability technologies such as sharding — for which I think it is totally wrong. The blockchain is only valuable cuz it provides low-cost trust which roots in the decentralization. If one wants a fast system, there are many such as cassandra and kafka. Blockchain is not meant to be fast, at least the layer 1 chain. Yes! Device identity and trusted data are the two concrete things we are working on rewarding IoT+blockchain. We have quite a few inbound requests from home surveillance manufacturers and companies around these two. Can you explain better so that the token is used IoTeX Foundation and Ecosystem? Could you update the amount of available foundation and Ecosystem tokens? Why are not the foundation and Ecosystem tokens used for new associations? Any explanation of the current status of the iotex project? Do you plan to sell OTC iotex tokens? In that case, what provision of tokens are available for sale. Why is not iotex published in more media crypto and YouTubers? What idea of expansion is there currently, globally, which countries are you most interested in? How many fairs of iot and crypto do you plan to go to in 2019 and 2020? How many companies have contacted you interested in security iot? How many staff resources do you currently have? How much available capital is there for the project? People are procured with the alts, in what position do you think is iotex as a project, from 1 to 10? Why do you think iotex is better than similar projects? Do you have a board of directors, how often do you meet? Early stage venture capital investors, is there any of them that joins the board of directors and decisions? How can big investors contribute to iotex? He thinks it would be interesting to buy more tokens from venture capital investors. Do you communicate with new venture capitalists and other iot companies to buy iotex tokens? Thanks for such a list of thorough questions. The Binance Research Report will have some concrete numbers for some of the questions here; let me address them from a high level. IOTX is used for governance (through staking/voting), utility (like gas in Ethereum) and operating of subchains in IoTeX Network. Please see the Binance Report for concrete numbers of tokens allocation. One change we made recently is to distribute last trance of the private-sale tokens in July (which is already done) according to http://member.iotex.io/polls. Otherwise, everything else stays the same. Foundation and ecosystem tokens will be used for incubating new projects/initiatives on top of IoTeX network. We received some ideas and applications already and are selecting which are the ones we want to start with. We have no plans to sell IOTX via OTC. Any interested investors can buy from the secondary market. We are focusing on building :) As the project gets more well-established, we are talking about ourselves more on media, conferences and etc.. We already have enough number of inbound queries from IoT companies to start with. We are a team of 30+ people and most of us are engineers and scientists. For procuring of tokens, I cannot give financial advice. IoTeX has an ambitious vision and solid execution, it is a great project. We have few advisors from IoT industry, academia and venture side, and we meet roughly once a month. We are open to strategic investors especially the ones coming with industry resources. We are working with some of them but cannot disclose the details for now. What role do you think IOTEX will play in making blockchain highly adaptable in the worldwide stage? IoTeX’s role is clear — it connects the physical world and the blockchain world by leveraging the machines/devices and things. To make it highly adaptable, IoTeX has this blockchains-in-blockchain structure that we encourage applications/scenarios to have their specific subchains that acting like adapters to specific verticals. It is interesting to see that Polkadot adopts similar designs which they call parachains. Where do you and the team see the world of blockchain being in years to come, and how will $vita change the landscape of the cryptocurrency space in years to come? What do you think is the biggest problem Team will solve that no other project is solving now, and why is the problem important to solve? Connecting the physical world with the blockchain world is a huge trend in the next 5 years. VITA’s mission is to engage the community and make crypto super easy to use for normal people in this world, so it is another way to connect the physical world with the blockchain world. The important problem is “how to connect physical and blockchain worlds”. This is super important: 1. The physical world needs a parallel virtual world to enable programmability and automation for lots of things; 2. The blockchain world needs to have an impact on physical world to demonstrate its value and generate revenue potentially. There are very few projects working on this now, e.g., chainlink takes a great first step on this. IoTeX continuously pushing this forward. When you look back to the day you guys started IoTeX, are you guys satisfied with the progress you have made? When you say IoTeX is a truly private blockchain, how do you think it is better than other private blockchain implementations in the industry? I am super impressed by the progress of the team — we started with three co founders and we now have 30 employees all over the world and ~100K people in our community in 18 months; we started with a whitepaper and now we have a decentralized, stable and performant public blockchain already processed 1million transactions and every line of code of this blockchain is written by us, no fork, no clone. IoTeX project has been highly recognized in the industry by top exchanges, top institutional investors and top companies in internet and IoT industry. Very different. If you look at the privacy-focused blockchains as Monero, Zcash and Grin — they are all slow, hard to use (like in Grin, sender and receiver should cosign a message before transferring coins) and has limited privacy (like monero has limited anonymity set). Most importantly, they set a high bar for developers and users to embrace this privacy technology. What we want is to set a privacy-preserving enabled platform so users and developers can enjoy using it without hassling with the hardcore techniques underlying. Also compared to ZKP, ring-sig approaches, our TEE-based approach provides faster and easier user experience. What killer features has IoTeX that are ahead of the competition and how does IOTEX intend to open up the technology to the community and to researchers so it can be continuously improved on? In short, PoS-based decentralization and TEE-based trusted computing are the two killer features of IoTeX. The former one is in production, and we are welcome anyone to join our Delegate Program! The second one is still under R&D stage and we will gradually open to the community once features are stabilized. Is it possible to introduce such an option as re-delegation of profit (type of reinvestment) so that the coins are not sent to the delegate’s purse but are automatically delegated, implementing the concept of compound interest. Hah, this is the second time I received such a requirement! This is something definitely technically feasible and let me pass this back to my PM as they are building an auto reward-distribution service for all delegates and this could be one fancy feature. 1. Do you guys worry when the price of your token goes down in the market and try something to bring it up? 2. Why did you made the Vita token pre-mined? 3. Do you believe adding Blockfolio, Citex as delegates will benefit Iotex in the long run? A little bit since we do not let our supporters suffer; but not too much since we know it will pick up in the near future. Basically to me, the “blue chip” age in the crypto market is coming or already came. Great projects with an ambitious vision and solid execution are getting more attention from the market. VITA is not pre-mined, as the purpose is to create a fair token for everyone to enjoy. We have no intention to do fundraising using it. Yes, if you look at our delegates they are really coming from different sectors — community/media, tech, investors, exchanges/wallets, developers, ambassadors. All of them are contributing and make IoTeX a prosperous ecosystem! Check to see who they are I saw that IoTeX is currently holding its first network-wide vote via smart contract. Why is such community engagement important for IoTeX and what role will this type of voting play going forward? What kind of decisions do you think is important from IoTeX to put to the community? Great question. Decentralization is the soul of a blockchain. Every shareholder’s opinion is important to us! We will have more voting events like this regarding how to grow tech, community, token economics and etc.. What’s your outlook on the future of cryptocurrencies? What can we do to keep increasing adoption? We long both crypto and the world! We identify ourselves as the connector of the physical world and blockchain world, which will have massive adoption. Can you explain why IoTeX is unique and how you expand your project? IoTeX’s role is clear — it connects the physical world and the blockchain world by leveraging the machines/devices and things. PoS-based decentralization and TEE-based trusted computing are the two killer features of IoTeX. What other platforms (if any) are you and your team working on to expand blockchain development and technologies? We are exclusively focused on IoTeX Network for now but we use different techniques/tools to make it better such as graphql, typescript, tee and etc.. Hello, I’m just a newbie in this current new world, what’s your plan to expand/grab knowledge about cryptocurrency especially for IOTEX project? docs.iotex.io is definitely a great place to start. We will also launch our codelabs in a few weeks which would be a great place for starters. You can also check out lots of useful resources here https://www.iotex.io/community-resources How do you see the project develop in 3–5 years from now, both business wise & company wise? What are the plans to expand in different regions? Will you outsource the team/skills or keep it centralized and set up offices? The past 18 months is a great start for the project and we are working even harder since then. This year we aim to finish most of the tech foundation (blockchain + trusted computing); 2020 will be one year we focus on some use cases — device identity, trusted collecting of IoT data, trusted storage of data and compute. Second half of 2020, we will focus on commercialization of such as the data marketplace on top of our technologies. In terms of where to start, we found out that Asian and Europe are most passionate about IoT that’s where we will likely to push first. Decentralization is the soul of the blockchain, both at operation level (e.g., delegates) and organization level (e.g., diversified team and decentralized offices). We are always trying to make IoTeX more decentralized and we would love to have believers to join us no matter from where! Why iotx doesnt spend more time to promote more news about the project? We are focusing on building :) As the project gets more well-established, we are talking about ourselves more.
The Crypto King Report January 12th: The Kingdom is Bleeding!!!! but FUD Attacks Are Followed by All Time Highs (3x in 2 months!), Calendar Conferences, New Moon Shot, 2 ICOS, January Safe Plays!
UPDATE: Although there will not be 6am "Moonshot" tomorrow morning there will be a 6am announcement I would highly recommend staying tuned in for on Discord! I've found a coin that is hitting a MAJOR exchange in the next 72 hours and the price is extremely depressed from the FUD attacks and market corrections that have occurred the last 48hrs. I would highly recommend getting involved in this coin at 6am EST even if it is only a 48hr hold. Because I am not expecting this to go up 10x in the next month it is not a "moonshot" for tomorrow but instead a coin I feel will have a 50-100% correction in 48hrs or less as it is added to a new exchange. Stay tuned tomorrow at 6am EST on Discord to see the recommendation. Once it hits the big exchange the value will no longer be there, the time to get in is tomorrow. This may be solely a 24-48hr play but should net 50-100% in returns in this very short period of time. We weren't going to have a moonshot for tomorrow as I needed sleep, but instead we are going to have a extra special coin! An immediate % gainer, not one we have to wait weeks for! See you all at 6am EST on Discord :)! The Crypto King Report January 12th: The Kingdom is Bleeding!!!! but FUD Attacks Are Followed by All Time Highs (3x in 2 months!), Calendar Conferences, New Moon Shot, 2 ICOS, January Safe Plays! I appreciate all my loyal followers! I am trying to build a social media presence and would love if you followed me on Instagram and Twitter as well! For tips and strategy hours before being posted to the message boards follow on Instagram: JaketheCryptoKing and Twitter: JbtheCryptoKing. And now on Discord: https://discord.gg/qTjQp8W (join the group to reach me directly and see posts early and moonshots at 6am EST when available!). If the title is a foreign language to you join Discord and read the Crypto-101 channel. This report can be found directly here: https://discord.gg/82kFuSz Today is an exciting day as the Kingdom has been purged of weak hands and FUD attacks. Our own news services provided what seemed to be the largest FUD attack in crypto history 48hrs ago. The markets are yet to completely recover but there is good news. “The sun will come out tomorrow.” I don’t actually mean with certainty tomorrow will be a green day, but what I do know is what the upcoming Calendar for the next 2 months looks like. The conferences start January 16th with the London Summit Bitcoin Workshop. January 18th we have Miami’s Blockchain conference, which I will be attending. January 19th kicks off London’s Blockchain Week. January 25th Manilla is hosting a huge blockchain event, that SAME day the U.S. and China are cohosting a blockchain conference (NEO and many others will be presenting) in San Francisco. January 31st is DevCon which NEO will be at again, along with many more coins. This next month literally has 1 or 2 major conferences in a major city every single weekend. These intentional FUD attacks were a quick way for whales (the people who own news agencies) to scoop up cheap shares leading into the biggest 7-12 weeks in blockchain conference history. The sheer amount of publicity surrounding a conference every weekend will drive the total market cap above 1 trillion (in my opinion). I haven’t even started talking about February but we will leave that for another time. The market will trend North as the conferences approach setting new ATHs in the next very short period of time. I cannot predict the future (or specifically which day this will occur) but what I do know is people do not pay $1000 (per ticket!) to sit at a convention unless they are truly big investors looking to get involved. There should be a flood of money coming into the crypto space following each conference between the attendees and the publicity. Moonshots are currently selected from KuCoin to use KuCoin make sure to have an account: Referral link for KuCoin: https://www.kucoin.com/#/?r=1cH1M Moonshots have had an incredible run and some have even managed to weather the storm associated with the most recent FUD attacks. DBC and SNOV have had nice runs in the last 48hrs even among a sea of red. Make sure to stay diversified as you never want to have “all your eggs in one basket” in investing. Do not try to pick which coin will go up 500%, pick 5 of the 10 moonshots you believe in and have researched and invest evenly. My moonshot for today… CAG. Moonshot Pick: CAG (Change Bank) The name speaks for itself, Change Bank, they intend to be the first truly decentralized crypto bank. CAG has a market cap of approximately $50million which makes it one of the lowest market cap coins on KuCoin. As the altcoins begin to pick up steam again and as new traders flood to exchanges like KuCoin, those with the smallest market caps and cheapest shares will be flooded with new $$. From a technical standpoint the chart shows a solid sell wall at 10040 Satoshis while the price was at 8700 Satoshis this morning when I recommended it on Discord and is currently around 9100 Satoshis. This leaves room for a 12% rise in value solely based on Sell Wall technical analysis. There is much more to CAG then analyzing the charts. It was trading 50% higher less than 48hrs prior (lovely correction the market had), making the coin currently ‘on sale.’ With no negative news besides poor market conditions CAG did not deserve a 50% drop in coin value. I expect CAG to quickly approach its prior ATH a minimum of a 50% gain once the market corrects in the coming days. It would not surprise me if even in these red days we get the 12% gain reaching the 10040 Satoshi sell wall (possibly today). I do not recommend day trading moonshots but this may be a nice way to pull a 12% profit without worrying about CAG long term. I am in CAG for the long haul as I see a minimum of 50% growth opportunity in the next week with the possibility of this being a 5-10xer once the market corrects and a new exchange is chosen. From a technical analysis CAG looks ripe for an immediate trend North. Analyzing their actual concept, team, wallet, roadmap and Q1, it is even more impressive. Their Q1 road map coupled with their wallet make this a coin that should be well above the $100million market cap as any of its competitors already are. This coin is on sale for no other reason than the market FUD attacks which will correct very shortly. A strong team, a great roadmap, a concept built for the future of crypto banking, and a technical analysis that shows a major correction are why CAG is the Moonshot of the Day! Solely because CAG is the Moonshot of the Day does not mean 100% of your funds should be in it. I hold all moonshots, never selling an entire stake as that will be the time your coin does a 40x. I rotate profits around often to the most underperforming coins from the ones that are outperforming. This takes monitoring but with a low cost of transacting can allow you to extrapolate many little gains throughout the day. HST, DBC, ELIX, SNOV, BNTY, KCS, DRGN, PURA, and EVX were my prior moonshot picks! Most are up between 100% and 600% depending on where you bought them. If you do not believe me click my name and go back 10 days in my posts, you will see I called DRGN when it was $.7 and KCS when it was $3.00, while KCS is now $19 and DRGN is over $4. Moonshots are not going to moon while the market is bleeding. We all need to be patient, with a strong set of cojones, to allow the moons the required time to take off. I feel the same losses all of you feel, I am just accustomed to them because when these FUD attacks occur, 2 weeks later your portfolio will be at its ATH (all time high). This has happened many times in 2017, especially from November-January. HOLD STRONG KINGDOM, HOLD (I have faith in you all!). January can be approached in 2 ways, roll with the most undervalued coins I’ve selected based on upcoming news and conferences or choose coins with upcoming news attending conferences that you prefer over the ones I’ve selected. Update Binance is accepting new traders again: https://www.binance.com/?ref=15316928 My 3 favorite January plays remain ICX, STRAT, and NEO. NEO has more conferences than any other coin in the next 2 weeks and meet ups all over Europe prior to that. NEO is the Asian Ether and should rapidly increase in value in the next 3 weeks. STRAT will remain a favorite of mine as they are launching their ICO Platform and have 2 flagship ICOs ready to be announced (they are timing the down market waiting for a correction, I guarantee it). The FUD started in South Korea and ICX crashed because of it. They still have their first HOSTED blockchain event during their mainnet release the last week of January in the tallest building in Seoul. All 3 make up a major portion of my “safe plays” for January with an expected return of 40-100%. My 3 favorite short term conference plays based on conferences for the next 2 weeks are: WAVES, ARK, and SONM. These 3 are all at events in the next 2 weeks of January (Waves and ARK are at a conference in Miami I will be attending!). The cost of attendance to these conferences start at $1,000 (help, donors help !) However, they provide exposure to the top individuals and founders of coins with billions of dollars in market cap. In comparison to other coins speaking at the largest January events WAVES, ARK, and SONM’s price has not appreciated this week in correlation to the others. They are also the smallest market cap coins presenting at these huge conferences. This provides an opportunity to purchase WAVES, ARK, and SONM at an undervalued price. As their conferences in mid-January approach I expect their price to trend north rapidly, peaking on the day of, or day after the conference. These should be focal points if you shy away from moonshots (which you shouldn’t!). XEM, I’ve discussed this one many times. Their NEM 2.0 release, their Catapult Network, and a 4-week hack-a-thon with plenty of publicity beginning this week, make XEM a winner for January. TRX, FUD attacks mean new ATHs remember that. TRX suffered bad attacks this week and with a game on the horizon I expect the new ATH to be approached ferociously. POWR, Very few coins are sponsored or have the support of their native country. Australia has some of the worst laws for investing in crypto (problems with deposits and withdrawals) when compared to any country. Yet the Aussies LOVE crypto (as do I!!!). POWR has the Australian govt. support likely due to the power issues plaguing Australia. POWR is a great long term play. ADX, A port to NEO is happening very soon and they also have a profitable advertising platform already set up. They recently completed a deal with EasyJet in the millions of dollars and are continuing to expand their user base. Advertising on the blockchain with a new port to NEO, seems like this is a clear winner with that type of news on the horizon. ENJ, A new listing on KuCoin and a new wallet release? Not to mention their Minecraft Plugin is coming out very very soon…What more needs to be said about ENJ. They were one of the few winners in the market recently and should continue to be green even in a sea of red. ARDR, Still a great buy because of its network but Bittrex is frustrating me to no end. My NXT has yet to arrive and my ARDR wallet has yet to be opened back up. Bittrex stop being so annoying this is why people are switching to KuCoin and Binance! I had a few readers provide feedback that they wanted shorter more succinct paragraphs (with new info daily even if nothing has changed) instead of the detailed explanations from prior days. If you prefer today’s structure or a prior day’s structure, please let me know! I love hearing feedback from the Kingdom . If you would like anything added also please let me know, I could do a daily special on chart analysis, or buy/sell wells. Share some feedback with me the Crypto Kingdom! Everyone is always asking about which ICOs I’m involved in and recommend. Well here are the current 2! ICO’S : STORIQA: “The Amazon Cryptocurrency Marketplace”. Great team, great platform, easy to sign up for ICO (even for U.S. investors). Well past their soft cap and approaching their hard cap! Discount for bonus coins still available in the short term! This has been on and off of my rec list but because they are approaching their hard cap I figured I’d give everyone one last opportunity to sign up! Referral link : https://tokensale.storiqa.com/?ref=6663944dff31989391d803ce KYC Legal: KYC Legal (please use the referral as I make no $ spending countless hours researching these ICOs and coins ) referral: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 Know Your Customer (the dreaded KYC form). If you’ve completed an ICO recently you know the form I’m talking about. The form they give you at the end, after you’ve sent your .5eth but before they will release their tokens. Basically stating you understand this market is unregulated, etc. Well a blockchain token has in essence solved this problem. I HATE KYC forms and if the KYC system was set up in a way in which you wouldn’t have to fill out that form repeatedly for every ICO it would be more convenient for all investors and ICO companies. KYC Legal intends to do just that. According to the founder DR, “This is a simple and quick way to complete client identification procedures, which can then be used to verify the client’s identity during various financial operations (so-called KYC (“know your customer”) requirements that financial institutions and companies working with the money of private individuals use to identify and verify counterparties before starting a financial transaction). This niche is completely untapped and I HATE KYC forms enough to think this is a brilliant idea. They are calling it a “Universal alternative to Personal IDs,” on the block chain. Brilliant concept and there are 2 days left to receive the 38% discount from the final price. A 38% gain prior to token sale completion is significant, imagine what will happen when the hard cap is reached and it hits the first exchange. KYC Legal: https://bookbuild.kyc.legal/?ref=23734776ffa2051a83eb8bc1 If you spend the time reading these you understand how long they must take to research and put together. My girlfriend wants to kill me (seriously I may not have one by the end of this post)! So I can provide her with presents while answering all of your questions make sure to show some love! ETH: Address: 0xdef6b4415635d15b0dc50e7039ef73c33e622f22 LTC Address: LiTtwXUMCMmch5oKUXfrXMqXWnG6jLg3qD BTC Address: 1LFLx3cXD1xiqCrupZJKf8p6pR23JRZWtP DASH Address: Xi9637XDyW2Q6wtRyGLsNXbJHj4UZ2M3kN (cheapest way to send!) KCS Address: 0x56d0a5b42a8313c36d8fe7a37ee3ccade7e4e6e1 XMR Deposit Address:44tLjmXrQNrWJ5NBsEj2R77ZBEgDa3fEe9GLpSf2FRmhexPvfYDUAB7EXX1Hdb3aMQ9FLqdJ56yaAhiXoRsceGJCRS3Jxkn XMR Deposit ID: b72e438346259f2828feaec4b04f0a95034b6364853f6f33d2370f57a37a1753
Top 50 Cryptocurrencies I thought this might be of real help for the ones that are just joining crypto and still want to read. Let’s face it: there are a lot of cryptocurrencies out there, with new ones coming out almost daily and old ones disappearing seemingly just as fast as they appeared. It’s easy to get overwhelmed. If you are new to cryptocurrencies, this is an excellent starting point to learn about each of the top 50 cryptocurrencies (by market cap). Even if you’re a crypto veteran, this is a great resource to reference if you ever get any of the top 50 confused, or if you want to read more about a new coin which has joined the ranks. Our hope is to point you in the right direction, spur your interest to do more research, and steer you away from the potential scams out there (And yes, there are potential scam coins in the top 50!) Here at Invest In Blockchain, we are obsessed with researching the internet for all things crypto. The information found in this post is the result of hundreds of hours of painstaking research by me and other writers on our team. Note that this list is constantly changing and I will do my best to keep it up-to-date, but the top 50 moves almost daily! Please refer to coinmarketcap.com for the latest information on the top 50 cryptocurrencies and their prices. Let’s get started! (Information accurate as of May 23, 2018)
#1 – Bitcoin (BTC)
📷 The king of the crypto world, Bitcoin is now a household name; to many, it is synonymous with “cryptocurrency”. Its purpose is to provide a peer-to-peer electronic version of cash to allow payments to be sent online without the need for a third party (such as Mastercard). The rapid rise in Bitcoin’s price has brought about an explosion of new Bitcoin investors. With the huge increase in interest has come a rise in merchants accepting Bitcoin as a legitimate form of payment. Bitcoin is fast moving towards its goal of becoming a currency accepted worldwide. Bitcoin’s development is led by Bitcoin Core developer Wladimir J. van der Laan, who took over the role on April 8, 2014. Bitcoin’s changes are decided democratically by the community. For an in-depth look at Bitcoin, including an explanation of Bitcoin mining, Bitcoin’s history, an analysis of Bitcoins’ value and a description on how bitcoin actually works, see our comprehensive guide “What is Bitcoin? Everything You Need to Know About Bitcoin, Explained“. For a more detailed description of Bitcoin’s economics, what makes money and how Bitcoin works in the economy as a whole see: “Bitcoin Explained” and “Bitcoin is a Deflationary Currency”.
#2 – Ethereum (ETH)
📷 Ethereum is the revolutionary platform which brought the concept of “smart contracts” to the blockchain. First released to the world in July 2015 by then 21-year-old Vitalik Buterin, Ethereum has quickly risen from obscurity to cryptocurrency celebrity status. Buterin has a full team of developers working behind him to further develop the Ethereum platform. For more background information on Buterin, read our article, “Vitalik Buterin: The Face of Blockchain”. Ethereum has the ability to process transactions quickly and cheaply over the blockchain similar to Bitcoin, but also has the ability to run smart contracts. For future reading on smart contracts, see “What’s the Difference Between Bitcoin and Ethereum”; but for now, think automated processes which can do just about anything. For further reading on Ethereum, including an analysis of the platform’s strengths and future prospects, read “What is Ethereum, Everything You Need to Know Explained“.
#3 – Ripple (XRP)
📷 Ripple aims to improve the speed of financial transactions, specifically international banking transactions. Anyone who has ever sent money internationally knows that today it currently takes anywhere from 3-5 business days for a transaction to clear. It is faster to withdraw money, get on a plane, and fly it to your destination than it is to send it electronically! Not to mention you will be paying exorbitant transaction fees — usually somewhere around 6% but it can vary depending on the financial institution. Ripple’s goal is to make these transactions fast (it only takes around 4 seconds for a transaction to clear) and cheap. The Ripple team currently comprises over 150 people, making it one of the biggest in the cryptocurrency world. They are led by CEO Brad Garlinghouse, who has an impressive resume which includes high positions in other organizations such as Yahoo and Hightail. Check out “What is Ripple” for more information, including a closer look at what they do, controversies and future prospects.
#4 – Bitcoin Cash (BCH)
📷 Bitcoin Cash was created on August 1, 2017 after a “hard fork” of the Bitcoin blockchain. For years, a debate has been raging in the Bitcoin community on whether to increase the block size in the hope of alleviating some of the network bottleneck which has plagued Bitcoin due to its increased popularity. Because no agreement could be reached, the original Bitcoin blockchain was forked, leaving the Bitcoin chain untouched and in effect creating a new blockchain which would allow developers to modify some of Bitcoin’s original programmed features. Generally speaking, the argument for Bitcoin Cash is that by allowing the block size to increase, more transactions can be processed in the same amount of time. Those opposed to Bitcoin Cash argue that increasing the block size will increase the storage and bandwidth requirement, and in effect will price out normal users. This could lead to increased centralization, the exact thing Bitcoin set out to avoid. Bitcoin Cash does not have one single development team like Bitcoin. There are now multiple independent teams of developers. Read “What is Bitcoin Cash” for more information. You can also check out their reddit and official webpage.
#5 – EOS (EOS)
📷 Billed as a potential “Ethereum Killer”, EOS proposes improvements that can challenge Ethereum as the dominant smart contract platform. One main issue EOS looks to improve is the scalability problems which has plagued the Ethereum network during times of high transaction volume, specifically during popular ICOs. A perhaps more profound difference EOS has, compared to Ethereum, is the way in which you use the EOS network. With Ethereum, every time you make modifications or interact with the network, you need to pay a fee. With EOS, the creator of the DAPP (decentralized app) can foot the bill, while the user pays nothing. And if you think about it, this makes sense. Would you want to have to pay every time you post something on social media? No, of course not! In addition to this, EOS has a few other technical advantages over Ethereum such as delegated proof of stake and other protocol changes. Just know that EOS has some serious power under the hood to back up the claim of “Ethereum Killer”. EOS was created by Dan Larrimer who is no stranger to blockchain or start ups. He has been the driving force behind multiple successful projects in the past such as BitShares, Graphene and Steem. For more information on EOS such as how and where to buy EOS tokens, EOS’s vision and potential challenges, see “What is EOS”.
#6 – Litecoin (LTC)
📷 Similar to Bitcoin, Litecoin is a peer-to-peer transaction platform designed to be used as a digital currency. Due to some notable technical improvements, Litecoin is able to handle more transactions at lower costs. Litecoin has been designed to process the small transactions we make daily. Litecoin is sometimes referred to “digital silver” while Bitcoin is known as “digital gold”. This is because traditionally silver was used for small daily transactions while gold was used as a store of wealth and was not used in everyday life. The Litecoin blockchain is a fork from the Bitcoin chain. It was initially launched in 2011 when its founder, Charlie Lee, was still working for Google. Well-known as a cryptocurrency expert, Charlie Lee is backed by a strong development team who appear to be achieving what they set out to do. They have recently achieved a very notable accomplishment with the first successful atomic swap. For an in-depth discussion on what Litecoin does, how it is different than Bitcoin and the team backing up the development, see “What is Litecoin”.
#7 – Cardano (ADA)
📷 Cardano is a smart contract-focused blockchain. It was originally released under the name Input Output Hong Kong by Charles Hoskinson and Jeremy Wood, a few of the early team members of Ethereum, and later rebranded into Cardano. Cardano is trying to fix some of the largest problems the cryptocurrency world which have been causing ongoing issues for years such as scalability issues and democratized voting. They have the potential to challenge Ethereum’s dominance in the smart contract world. Cardano is developing their own programing language similar to Ethereum; however, they are focusing more heavily on being interoperable between other cryptocurrencies. While some cryptocurrencies are all bite but no bark, Cardano is quite the opposite. They are quietly focusing on a strong software which will be completely open-source. Cardano’s team comprises some of the best minds in the industry, and they seek to create a strong foundation which others can build upon for years to come. For up-to-date information on Cardano’s status see their Reddit page or official website. You can also read our article “What is Cardano” to learn more about them.
#8 – Stellar Lumens (XLM)
📷 In a nutshell, Stellar Lumens seeks to use blockchain to make very fast international payments with small fees. The network can handle thousands of transactions a second with only a 3-5 second confirmation time. As you may know, Bitcoin can sometimes take 10-15 minutes for a transaction to confirm, can only handle a few transactions a second and, in turn, has very high transaction fees. If this sounds a lot like Ripple, you’re right! Stellar Lumens was based off of the Ripple protocol) and is attempting to do similar things. Some of Stellar Lumens’ main uses will be for making small daily payments (micropayments), sending money internationally, and mobile payments. Stellar Lumens is focusing on the developing world and, more specifically, the multi-billion dollar industry of migrant workers who send money back to their family in impoverished countries. The Stellar Lumens team is led by Jed McCaleb, who has worked in numerous successful startups in the past such as eDonkey, Overnet, Ripple, and the infamous Mt. Gox. For more information on Stellar Lumens, including the history and what sets Stellar Lumens apart, see “What are Stellar Lumens”. You can also learn about the differences between Stellar Lumens and Ripple.
#9 – TRON (TRX)
📷 As stated in TRON’s whitepaper, “TRON is an attempt to heal the internet”. The TRON founders believe that the internet has deviated from its original intention of allowing people to freely create content and post as they please; instead, the internet has been taken over by huge corporations like Amazon, Google, Alibaba and others. TRON is attempting to take the internet back from these companies by constructing a free content entertainment system. This will enable users to freely store, publish and own data, giving them the power to decide where and how to share. The project is led by founder Justin Sun, who has been listed on the Forbes 30 under 30 list twice (in 2015 and 2017). In addition, Sun is a protégé of Jack Ma, founder of Alibaba Group, China’s former Ripple representative and the founder of Peiwo APP. Sun has assembled a strong team with heavy hitters including Binshen Tang (founder of Clash of King), Wei Dai (founder of ofo, the biggest shared bicycles provider in China), and Chaoyong Wang (founder of ChinaEquity Group). Sun has also secured the support of a few notable angel investors such as Xue Manzi. For up-to-date information on Tron and further discussion of the technology and team, see “What is Tron” and their website.
#10 – IOTA (MIOTA)
📷 IOTA has seen many of the issues Bitcoin and Ethereum have with the POW (proof-of-work) and POI (proof-of-importance) models and looks to improve them with their revolutionary transaction validation network simply called “tangle”. When issuing a transaction in IOTA, you validate 2 previous transactions. This means you no longer outsource validation to miners which requires wasteful amounts of computing power and usually a large stake of coins. These required resources are, in effect, centralizing the currencies which many believe were created to be decentralized in the first place. With IOTA, the more active a ledger is, the more validation there is. In other words, the more people who use it, the faster it gets. You don’t have to subsidize miners, so there are no fees on transactions. That’s right: zero. The IOTA team has been actively developing blockchain technology since 2011, and created the IOTA foundation and company in 2016. Since its emergence, the team has been continuously growing, attracting exceptional talent from around the world. For more information on IOTA’s team and their revolutionary“tangle” technology, check out “What is IOTA”.
#11 – NEO (NEO)
📷 A leading platform for smart contracts and sometimes referred to as “China’s Ethereum”. NEO (formally Antshares) hopes to digitize many types of assets which were formerly kept in more traditional means, and therefore make it possible to use them in smart contracts. To imagine a potential use case of NEO, think digitizing the title to a house into a smart asset, and then setting up that asset to automatically transfer to another person after payment for the house has been received. This would be, in effect, a simple smart contract. NEO founder Da Hongfei is a leading figure in the cryptocurrency world and has worked on numerous blockchain projects in the past. The development team consists of 6 in-house investors and a large community of third-party developers. For a complete overview of NEO, including the team, history and competitive analysis, check out “What is NEO”.
#12 – Dash (DASH)
📷 Dash (which comes from ‘digital cash’) aims to be the most user-friendly and scalable cryptocurrency in the world. It has the ability to send funds instantly confirmed by “double-send-proof” security with the added functionality of erasable transaction history and the ability to send transactions anonymously. Like Bitcoin, Dash is meant to be used as a digital currency but has some added values such as much faster transaction times and lower fees. For a slightly higher fee, Dash has the added function of “instant send” which allows transactions to be confirmed almost instantly. This is one of the main selling points of Dash because many believe that this feature would allow it to be used in brick and mortar establishments. The Dash development team consists of over 50 members and is led by former financial services professional Evan Duffield. For the latest on Dash, see their official website and reddit page. You can also read “What is Dash” to learn more about the project.
#13 – Monero (XMR)
📷 Monero is a digital currency designed to be used as a completely anonymous payment system. A common misconception with Bitcoin is that it is completely anonymous. In reality, all payments processed on the Bitcoin network are recorded on a public ledger (blockchain), so Bitcoin is actually only partially anonymous or “pseudonymous”. This means that you can, in theory, trace back every transaction a coin has been involved with from its creation. Though users aren’t able to inherently link the public key on the blockchain with the private keys used to store the coins themselves, there will always exist a correlation between the two. Monero has solved this problem by implementing cryptonic hashing of receiving addresses, therefore separating the coin from the address it is going to. This can be hugely valuable for anyone wishing to conceal their purchases. The Monero development team consists of 7 core developers, only two of which are publicly known. There have been over 200 additional contributors to the project and software updates are implemented every six months or so. To learn more about Monero including its competitors and challenges, read “What is Monero”. If you’re thinking about investing in Monero, check out our opinion piece “Should You Invest In Monero?“.
#14 – Tether (UDST)
📷 Tether is a cryptocurrency token issued on the Bitcoin blockchain. Each Tether coin is allegedly backed by one US Dollar. The goal is to facilitate transactions with a rate fixed to the USD. Amongst other things, Tether looks to fix some of the legal issues which can arise when trading cryptocurrencies and it aims to protect people from market volatility. Tether has faced controversy regarding their business model, and some consider it a scam. More info can be seen on reddit posts such as this.
#15 – NEM (XEM)
📷 NEM (New Economy Movement) is the world’s first proof-of-importance (POI) enterprise based on blockchain technology. With a focus on business use cases, the software was built from the ground up with adaptability in mind. NEM’s goal is for companies to use their “smart asset system” to implement customizable blockchains. A smart asset can be almost anything: a cryptocurrency token, a business’s stock or a company’s invoicing and records. Some potential use cases for NEM’s technology include: voting, crowdfunding, stock ownership, keeping secure records, loyalty rewards point programs, mobile payments and escrow services. A list of NEM’s use cases can be found here. The development of NEM is monitored by the Singapore-based NEM Foundation. For more information on what NEM does and what sets NEM apart from its competitors, see “What is NEM”.
#16 – VeChain (VEN)
📷 As described in VeChain’s development plan, the organization’s purpose is to build “a trustfree and distributed business ecosystem based on the Blockchain technology self-circulated and expanding”. They plan to do this by creating an efficient trustless business ecosystem to significantly reduce the wasteful information transfer systems of today. Some of the areas and industries the VeChain platform is focusing on include eliminating counterfeiting in the fashion and luxury industry, food safety tracking systems, digitizing maintenance in the car industry and many other global supply chain processes. For more information on VeChain, see their reddit and website. Read “What is Vechain” to learn about the project, and our investment opinion piece “5 Reasons to Invest in Vechain“.
#17 – Ethereum Classic (ETC)
📷 Ethereum Classic came about after a hard fork of Ethereum in 2016. The fork was a result of the infamous DOA hack where around 50 million dollars worth of Ethereum was stolen due to what was considered an oversight in the code. The blockchain was forked in order to recoup the losses from this attack, but a small portion of the community did not wish to go back and change the original blockchain. Vitalik Buterin, founder of Ethereum, and subsequently the development team chose to go with the hard fork and work on what is now “Ethereum” today. There is a lot of ongoing controversy with Ethereum Classic which can be better described on this reddit thread. For an in-depth discussion of Ethereum Classic, see”What is Ethereum Classic“.
#18 – Binance Coin (BNB)
📷 Binance Coin is the coin used to facilitate operations on the Binance platform, a cryptocurrency exchange that is capable of processing 1.4 million orders per second. The name “Binance” is derived from the combination of the terms “binary” and “finance”, referring to the integration of digital technology and finance. The BNB coin is used to pay exchange fees, withdrawal fees, listing fees, and all other possible transaction expenses on the Binance platform. In order to incentivize new users to do their cryptocurrency trading on Binance, the team is offering discounts when BNB is used to pay fees. The discount will be 50% in the first year, 25% in the second, 12.5% in the third, and 6.25% in the fourth year before the discount ends. Binance was primarily marketed to Chinese cryptocurrency investors at first, but they also have English, Korean, Japanese, French, Spanish, and Russian versions of the platform. For a deeper look into Binance, you can read the whitepaper or check out the trading platform here.
#19 – Bytecoin (BCN)
📷 Bytecoindescribes itself as “a private, decentralized cryptocurrency with with open source code that allows everyone to take part in the Bytecoin network development”. It is the first coin to offer untraceable payments, unlinkable transactions and resistance to blockchain analysis. With Bytecoin, it is possible to send instant transactions anywhere around the world, which are totally untraceable and don’t require additional fees. Bytecoin’s development is community-driven and a list of all of the different community websites can be found here. For more information on Bytecoin, see: “What is Bytecoin“.
#20 – QTUM (QTUM)
📷 QTUM (pronounced Quantum) is an open-source value transfer platform which focuses on mobile decentralized apps or Dapps. QTUM is the world’s first proof-of-stake smart contracts platform. QTUM is meant to be used as both a value transfer protocol, like Bitcoin, and a smart contract platform, like Ethereum. They have a number of technical innovations which some consider to make it superior to Ethereum, and they are focusing on mobile applications. The platform itself is very new. It came about in March 2017, after a highly successful crowdfunding campaign raised them nearly 16 million dollars in only 5 days. QTUM has a small but strong development team and an impressive list of investors backing their ideas. QTUM’s development is lead by the Singapore based QTUM Foundation. For further reading on the background of QTUM and what sets them apart, see “What is QTUM”.
#21 – Zcash (ZEC)
📷 ZCash is a value transfer protocol forked off of the Bitcoin blockchain. ZCash can be used like Bitcoin, with a few added improvements. With “zero cash technology”, ZCash shields both the amount transferred and the senders, making transactions truly anonymous. ZCash is one of the new kids on the block in the world of “private transactions”. An interesting note is that Ethereum is in the process of implementing some of ZCash’s technologies to enable transactions on the Ethereum network to be anonymous as well. ZCash is being developed by the Zerocoin Electric Coin Company. They’ve had some great successes, most notably JP Morgan’s announcement that they would implement Zcash’s privacy technology to Quarum, a technology JP built on Ethereum. Interested in investing in ZCash? Here’s the opinion of one of our writers: Should You Invest In ZCash? ZCash was recently featured on the Radiolab episode The Ceremony.
#22 – OmiseGO (OMG)
📷 “Unbank the Banked” is the slogan of Omise’s online platform OmiseGo and that’s exactly what Omise has set out to do. Founded in 2013 off of the Ethereum blockchain, Omise aims to revolutionize the financial dynamics in Southeast Asia. Omise is targeting individuals and businesses of all sizes by improving the current financial system which is slow, outdated, and inaccessible to most “everyday” people in these countries. With their planned online exchange OmiseGO, Omise seeks to speed up the way money is spent and sent, both domestically and internationally in Southeast Asia and beyond. They have a lot to celebrate too. OmiseGo has been building partnerships in the region and recently partnered with McDonald’s and Credit Saison. Omise has established a strong team of over 130 staff members located in different countries. CEO and founder of Omise, Jun Hasegawa, has been involved in multiple startups and worked for Google for over 16 years. The OmiseGO platform has been endorsed by some of the heavy hitters in the cryptocurrency world such as Vitalik Buterin and Gavin Wood, the co-founders of Ethereum. For more information on what OmiseGO aims to do, see “What is OmiseGo”.
#23 – ICON (ICX)
📷 Fresh off a successful ICO, the Korea-based startup ICON is looking to provide a medium to connect all the different blockchains together. This puts ICON in the same field as Ark, which is attempting to accomplish similar goals. The main concept of ICON is their idea of a “loopchain”. As stated in their whitepaper, a loopchain can be described as a “high-performance blockchain that can provide real-time transaction, which is based on enhanced Smart Contract.” Through ICON, participants will be able to connect to any blockchain without relying on the current centralized exchanges. ICON has a relatively large team from various backgrounds. They have also secured the help of a few notable advisors such as Jason Best and Don Tapscott. For more information on ICON and the work they’re doing, see “What is ICON“.
#24 – Lisk (LSK)
📷 Lisk is a decentralized network, like Bitcoin and Litecoin, which enables developers to deploy their own side chains off the main Lisk blockchain. These side chains are fully customizable blockchains which enable you to change the parameters you want to fit your own blockchain application. This is similar to Ethereum and QTUM in some ways. With Lisk, the main difference is that the customizable blockchains split into their own separate side chains. This saves developers the grueling legwork of designing something from scratch. At the end of the day, side chains are only decentralized databases of blockchain applications. Lisk is being developed by a small but quickly growing Berlin-based team. They are led by co-founders Max Kordek and Olivier Beddows who are veterans in the cryptocurrency and development world. For a thorough look into Lisk including more on what Lisk does, its competitors, challenges and teams, see “What is Lisk”. You can also check out our case study of an accountant who invested all his life savings in Lisk: “Accountant Invests All in Lisk”.
#25 – Zilliqa – (ZIL)
📷 Zilliqa is a blockchain platform which focuses on solving the problem of scaling on public blockchains. With Zilliqa’s network, the number of transactions increases at a linear rate to the number of nodes. This means that as nodes increase, so will its ability to handle high transaction volume. Zilliqa has already run a successfultest on their network, where they were able to achieve 1,200 transactions per second with only 2,400 nodes. Zilliqa also is the first blockchain to successfully integrate “sharding” into a public blockchain. This concept is extremely useful in improving the rate of scalability, bandwidth and performance in blockchains. Sharding, in effect, splits nodes into “shards” which can then conduct micro-transactions in each blockchain block. In addition to this, Zilliqa claims to be more energy-efficient to mine. They also plan to implement dapps into their platform in the future. For more information on Zilliqa, see their website and reddit. Our article “What is Zilliqa” can provide you with an overview of the project.
2nd Round of our AMA for the Nucleus Developers on Hcash
Please review the answers from the first round of the AMA here.
Reddit 2nd Round AMA Answers How about questions for Dallas, Khal, Andrew and Ryan? I’m sure everyone would appreciate a live Q&A from them.
You could try sending a request via direct message with questions on Facebook or Twitter. The Nucleus Team is focused on the technological development and planning at this time.
You stated previously that the swap values will be calculated on the “real time market value” of each coin. How will the market value be derived? Will it include exchange values from Binance, Poloniex, CoinMarketCap, or an average of these? Will the market value be derived in USD, AUG, RMB, or an average of them all?
Just to clarify for everyone that we are discussing interoperable swap values. This value will be an aggregated number like you see on CoinMarketCap or Coincap, which includes regional averages.
Is there an ETA a to when the yellow paper will be released?
ETA on the yellow paper is Q2 2018
This article says that the HSR code was copied from the DCR code in GitHub. Don’t you think you need an explanation?
The HSR code is forked from DCR. The GitHub repository was not created properly by the team prior to the Nucleus Team’s involvement. Existing GitHub issues originated from cultural differences as the research lab at the university where the work was done is not familiar with open source development practices, tools and their benefits. Unfortunately, this has resulted in less than positive relations between the DCR and HSR communities. We are following procedures going forward to ensure the original authors of open source projects are properly attributed as well as properly forked to help both repos benefit from the possibility of merging in changes from future development progress. Anything that we can do to contribute to Decred’s dev team and community will benefit both projects and we are looking forward to exploring future possibilities after the main HCash chain launch.
What features will the main chain have on it’s initial launch on February 15th?
February 15th is a tentative date. We are still referring to launch as being mid-February. The primary feature will be the first Go implementation of BLISS and quantum resistant transactions. We will also evaluate the future potential of bitcoin NG on public testnets to decide the features we propose to include in future forks in order to keep progress steady and continue developing the strength of the main chain. Segwit will still need to be activated on the main chain to provide Lightning Network and atomic swaps.
Baidu 2nd Round AMA Are there any projects you wish to launch this year?
We are looking forward to the launch of the main chain. Next, we are planning on contributing to Lightning Network development as well as the side DAG design and development. The side DAG will be available for a longer testing period to allow for new projects to begin building off the EVM. As PQ addresses are adopted we aim to implement other quantum-resistant signature options for users of the network.
What will your team devote the core of its attention on as it works this year?
The primary focus post launch will be Lightning Network and side DAG design and deployment.
I took a close look at the whitepaper. It doesn’t clearly say when the technology allowing cross-chain trading will be implemented. It also didn’t specify what development schedule is for that tech. Could you please explain it to me?
The roadmap will be updated post main chain launch. We need to make sure going forward that time frames and dates given are met timely while considering the feasibility of the tech we are trying to deliver. The Nucleus team is currently working to coordinate with the project’s university research partners around their plans and timelines for new contributions to the ecosystem that align well for the network’s users and the Some details of the interoperability were answered in the last AMA so I would refer to that. If you want specifics then that will have to wait till the yellow paper is finished.
What differentiates Hcash from Wanchain? They’ve already finished development their main network and they’ve made a lot of progress in cross-chain technologies.
Cross-chain interoperability is a challenge for the ecosystem that many projects are helping resolve. There will be different solutions. We look forward to seeing more about their Locked Accounts and signature sharing. I don’t know what they’ll be doing about BTC/ UTXO based transactions. Our design will allow atomic swaps for BTC/ UTXO transactions into a quantum resistant addresses for security. ETH interoperability will work similarly, but our EVM will be built into our side-DAG rather than an ETH blockchain. Also, we will be using bridges and sidechains for other styles of chains like NEO or maybe VEN. Another thing we would like to see is existing projects on ETH build a port on our EVM so those smart contracts can communicate directly with each other, rather than just using relays.
Does all the HSR belong to the teams, the investment foundation, and the early investors have a lock-in period?
You would have to speak to the Hcash foundation directly if you have any questions about lock up periods or allocations related to HSR. These advising, testing and developing the codebase and technical roadmap.
Based on the roadmap, quantum resistant passwords, cross-platform token transfers, and PoW mining have all been completed. Is the present rate of progress coming along as outlined? Please explain the technological hazards that still exist.
With the main chain, quantum resistance and PoW mining available on launch. The cross-chain functions will be operational for the main chain with Lightning Network and other chains will be available with the side DAG. There are a number of technical hazards to work through with respect to compatibility and optimization and these things will take time to implement. A new roadmap and outline is due soon.
Hcash has reached an agreement with Qtum for low-level interoperable contracts. Will Hcash later have similar agreements or connections with other projects such as Ethereum, IOTA, NEO, etc?
We would love opportunity to work alongside other projects. Based on the structure of chains such as NEO, it probably would require some open lines of communication between our dev community and CoZ. ETH operates in a more transparent manner and interoperability with ETH is much easier to achieve. The ultimate goal is to be the glue between all these different projects and provide an ecosystem for the community to build off of.
How are small and big coin websites or varying sizes (Poloniex, Bittrex, and Binance) doing in terms of getting registered on South Korean trading platforms?
There may have been something lost in this question’s translation - try reaching out to those website’s support contacts? That is not something we are involved with.
Does Hcash want to make a base level public chain, or make it like bitcoin?
The Hcash main chain is meant to provide integrity for this interoperable network. PoW chains do a fantastic job of this because of the time and effort it requires to actually secure the blockchain.
Thank you to everyone who participated. Please stay tuned to our channels for more information regarding the main chain launch!
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