submitted by j0j0r0 to ethereum [link] [comments]
Dragonchain Public Proposal TL;DR:Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Executive summaryDragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoCIn The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactionsOn Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
How it works & scales
Architectural ScalingDragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
Economic ScalingAn interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Scaled DeploymentDragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in ScalingDragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table
How to run itBuilding on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
ArchitectureDragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
APIs (on chain & off)
Known issues or tradeoffs
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to considerDragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactionsDragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees
Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Users should be able to view their balances & transactions via a blockchain explorer-style interfaceFrom interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simpleWithdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
Documentation should be clear and completeFor full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
TIMECommunity points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragon DenDragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone elseUsers can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone elseThrough our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offlineIf necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be availableTo our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus pointsSee above
Compatibility with HSMs & hardware walletsFor the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directlyThis operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalableThis is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferredDragonchain is fully open source (see section on Disney release after conclusion).
ConclusionWhether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open SourceThe team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
Open SourceIn 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document
Dragonchain FoundationThe Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by freewallethelp to Freewallet_org [link] [comments]
We’re happy to share the Freewallet review via Blockchain.News.
Blockchain.News is a global English blockchain media outlet which has the most up to date coverage on the blockchain, cryptocurrencies, and financial technology. Blockchain.News has made a name for itself by gathering the insight of leaders in the blockchain space, including the Financial Conduct Authority, Bitcoin.com, CoinMarketCap, Binance, Microsoft, IBM, SingularityNet and more, and presenting it in a digestible form for readers. They also provide cutting-edge research on New Money theory and educate the public with in-depth crypto market analysis.
“The Freewallet system enables smart exchanges. That means other wallet currencies can be automatically exchanged into another crypto of your choice at a low price. This function can help you save your coins in a volatile market” - said Blockchain.News. If you want to find out more about the features that make Freewallet so special click here for the full article.
submitted by benohanlon to komodoplatform [link] [comments]
A total prize pool of 7,000 KMD in our infographic contest
Calling all creatives to take part in our infographic contest and compete for a prize of 7,000 KMD. The winning infographic will explain the architecture of Komodo Platform’s technology. Winners will be those who are able to communicate our architecture and tech visually. This contest will run primarily on Reddit, with the exception of resources being posted to Medium and a master twitter thread for submissions on Twitter. You'll find links at the bottom of this post.
Prizes for winning infographics.Are you a creative designer? Here's what you can win…
Prizes for sharing and giving feedback!Not a designer? That's OK. You can still participate and win! We'll award five lucky winners 100 KMD each for sharing and promoting the contest. Winners will be picked in a raffle. If you'd like to take part click here https://gleam.io/MwMtO/komodos-20-infographic-contest-5000-kmd-grand-prize and share this post with your friends.
Our Criteria to JudgePlease note that upvotes and shares are not the only criteria we'll use to judge winners. While useful, we will value creativity, good questions and discussion on Reddit highly. When sharing your posts you will score more highly if people comment, provide feedback and are engaged.
How do you win?You may submit up to two infographics. By submitting an infographic, you understand Komodo may post and use your submissions on our digital channels during and after the contest. Each infographic must have it's own post.
Contest Timeline Guide (these dates indicative and are subject to change).
ResourcesIf you need help please post in this thread, or email [[email protected]](mailto:[email protected]) with ‘Infographic Contest’ in the subject line.
Entries and submissions for the infographic contest. You can click here to see them all in a scrollable thread on Twitter.
25/09/18 - First Round of FeedbackInfographics should use graphical design elements to visually represent the Komodo Architecture Story found here: https://komodoplatform.com/komodo-platform-a-brief-overview/ included in our ‘required reading’. There’s also a bullet point aid: https://medium.com/@benohanlon/bullet-point-aid-to-help-you-the-history-of-komodos-architecture-dced35b29965 you may find useful.
If you’ve not been included in the first round it’s because the submission hadn’t been made when the team reviewed. Don’t worry though because we’re organising hangouts and further feedback to help.
We hosted a round of live feedback sessions via Zoom. The recording is here:https://soundcloud.com/blockchainists/zoom-call-first-round-of-feedback-for-komodos-infographic-contest#t=3:50
TimelineThe first block in the KMD blockchain was mined just under two years ago, on September 13, 2016 to 9:04 PM. Since then, Komodo has demonstrated a commitment to innovation and established a history of execution.
If you would like to update your post, please edit and add to the post so people can see the different iterations. Entries and submissions for the infographic contest. You can click here to see them all in a scrollable thread on Twitter.
claimAll will not work for most users. When you get to the claim step, please use the following tutorial: https://steemit.com/eos/@koyn/minimizing-the-cost-of-gas-when-claiming-eos-using-myetherwallet
REMEMBER YOU ONLY NEED TO REGISTER YOUR TOKENS IF YOU BOUGHT THEM ON AN EXCHANGE. YOU DON'T NEED TO CLAIM THEM.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
- Go to the EOS website https://eos.io
- Scroll down and select "GET EOS"
- Tick all the required boxes and click "Continue"
- Scroll down and click "Register"
- Select Metamask, MyEtherWallet, or Ethereum Wallet
- Follow the guide.
- Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.
The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain.
Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers.
Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."To ensure EOS tokens are not classed as a unregistered security block.one has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from block.one:
"block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”It is expected that many blockchains using eos.io software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of block.one a $1bn fund will be has been created to incentivise projects to use this blockchain.
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
“block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.”
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad.
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."
submitted by Bobelr to DxChainNetwork [link] [comments]
TodayI will be taking you through the fourth series of the Dxchain White Paper Explained. Previous series you can find this SR-1, SR-2, SR-3.
Overtime, Dxchain Project experienced a very considerable growth and it continually seeing the expected development. There are couple of announcements and release over the past weeks, all of which you can find on Dxchain Blog site. In discussion I had with @olivia -member of the Team, it came to my knowings there has been slight changes in the course of executing the whitepaper. This is due to continuous technological advancement together with external factors that might be about change in paradigm. This series is basically to walk you through the avenue at which Dxchain Utility token -DX operates.
DX Token And Its Usage.What Is A Token?
There is a clear distinction between Blockchain and Cryptocurrency. Blockchain being "a well" where the water takes its source and "crytpocurrency" acting as what you need to fetch out the water in an amount you need for sufficiency. This basically explains the deep relationship between them. They both co-exist where one acting as the platform and another what is built upon it. Blockchain has a distinctive nature which uses a tokenized transactions which are referred to as cryptocurrencies.
A cryptocurrency token is a store of asset value, and what asset is being represented varies wildly based on the blockchain. In a vanilla blockchain like Bitcoin, the cryptocurrency BTC represents financial value. In a commodity-backed blockchain like Hempcoin, the cryptocurrency THC represents industrial hemp.DUAL-TOKEN BLOCKCHAIN
There exist blockchains that use Dual-token system such as NEO/GAS. While NEO serves as the digital security token, GAS's usability is to power tokenized transactions on the NEO network. Ethereum as a blockchain supports development of additional or dual cryptocurrency tokens. Projects like EOS, VeChain, TRON etc started as Ethereum-based tokens before they moved to a self-hosted blockchain. This brings me to differentiating between a TOKEN and a COIN. Ethereum chain supports other coins which is why it has different token protocols referred to as `Ethereum Request For Comment (ERC) Standards.`Some of the known ERC standards are ERC-20, ERC-223, ERC-721(used for non-fungible crypto collectibles like CryptoKitties) etc
Difference Between A Token And A Coin.
Coins are digital money, created using encryption techniques, that store value over time. Basically it is a digital equivalent of money. The major characteristics of a coin is that: they are fungible, divisible, acceptable, portable, durable and have limited supply. Example of a coin is Bitcoin, LiteCoin, Ripple etc. In contrast, according to the medium article here ,
Tokens are digital assets, issued by the project, which can be used as a method of payment inside project’s ecosystem, performing similar functions with coins, but the main difference is that it also gives the holder a right to participate in the network. It may perform the functions of digital asset, represent a company’s share, give access to the project’s functional and many more — with the launching of new projects unknown facets of tokens’ functional are discovered. Token-hosting platforms like Ethereum created a divide in crypto in which the term “coin” is used to describe self-hosted cryptocurrencies like Bitcoin, while “token” is used to describe proprietary tokens hosted on third-party blockchains.
What Is DX Token?
According to Dxchain Whitepaper, DX is a non-refundable functional utility token which will be used as the unit of exchange between participants on the DxChain Network. The goal of introducing DX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on the DxChain Network. DX is an ERC-20 standard compatible token. That is, It is initially created on the Ethereum network and can be stored using wallets with same compatibility.
It is to be noted that DX is proposed to be in a native currency of the platform which can only be on the self-owned blockchain. Recently, Dxchain launched mainnet-alpha - a development showing that Dxchain will own a native cryptocurrency sooner. This, usually brings about swapping of token with the native currency of the platform.
Dxchain completed her sales long ago, now listed and trading on several exchanges thus: Bilaxy, Kucoin , Gate.io, IDEX Coinsuper,Bgogo. For token statistics (supply, M.cap etc), see coinmarketcap.
What Is The Use Of DX Token?DX is a major component of the ecosystem on the DxChain Network, and is designed to be used solely as the primary token on the network.. The primary usage of DX is for interaction among the participants of DxchainNetwork. For instance, Dxchain being a decentralized storage platform needs a convenient way of sealing transactions for justify the advantage of using the platform for effective cost control using cloud service hence DX will serve the purpose of this.
It will be used a means of incentivizing members of the newtwork. Quoted here, DX is required as virtual crypto “fuel” for using certain designed functions on the DxChain Network, providing the economic incentives which will be consumed to encourage participants to contribute and maintain the ecosystem on the DxChain Network. DX is a vital and integral part of the ecosystem as it serves as a means of incentives to get participants engaged in the network.
DX is also required for the smooth validation and verification of additional blocks on the Dxchain. The providers of such services on the Network would require payment for the consumption of these resources (i.e. ”mining” on the DxChain Network). Lastly. the utility of DX is also to maintain network integrity. It will serve as the unit of exchange to measuring and payment for the costs of the consumed computational resources on the chain.
Hello, readers of my blog. In previous atomic wallet articles I described how to buy BTC with a credit card and transfer assets to other resources. This article will consider buying ETH.submitted by FVB15 to CryptoICONews [link] [comments]
This is a multi-currency wallet that supports most major cryptocurrencies and tokens of different projects. The platform interface is simple and user-friendly. At the moment, it supports more than 300+ tokens and periodically adds new coins. The application constantly updates and improves security, for the safe storage of users’ crypto active assets.The Swap option is very convenient and helps you, for example, exchange LTC for BTC inside the wallet, without using exchangers. Swap Markets has user orders, and you can choose the right volume and price for you. There is also a great option to exchange cryptocurrency inside the wallet. We go to the exchange, choose an asset for exchange and for which cryptocurrency you want to exchange. The action takes place through the partners of the platform and does not take much time.Mobile application you can download here https://play.google.com/store/apps/details?id=io.atomicwallet
Decentralized wallet solution is a criterion of transparency, reliability, and security, in my opinion, the most important components for storing your assets. Atomic Wallet supports most blockchains (XRP, XLM, XMR, and others).In more detail, you can familiarize yourself with the project on their official website https://atomicwallet.io/Great app for storing your assets. According to the developers, the security of your funds is fully protected. Everything is under your control, passwords are stored with you, you can restore the wallet using the mnemonic 12 words that you write down during installation. Read more about this and how it works here https://atomicwallet.io/what-are-private-keys-and-how-they-work
Your safety is completely in your hands. Do not store keys and mnemonic words on the computer.Compliance with decentralization makes this wallet private and I think users will appreciate the development of a team of project professionals.
This video will help you understand how to buy ETH
Go to the Buy crypto tab:
After confirming your identity, you choose an amount that is automatically converted into euros or US dollars, then Simplex approves your request and exchanges.
Cryptocurrency can be bought with a credit card. Consider a purchase, on the example of the card Simplex. Simplex is a company that provides secure payment processing worldwide, with minimal risk and no fraud. The technology of this company has proven itself on the market from the positive side and allows you to process online payments, for users, with great speed and increased conversion of declined transactions. Among the partners of the system are well-known exchanges Binance, Kukoin, and many other companies. In more detail, on the official website https://www.simplex.com/
Simplex ensures that exposure to risk is reduced to zero and is responsible for returns in case of fraud. The project acts as a trusted guarantor of the transaction and makes a confirmation only when all parties report that the transaction was successful. The reputation of the platform can be judged by numerous well-known partners who cooperate with the company Simplex.The collection of personal information is used to provide exchange services and prevent unauthorized actions. Information of users does not apply to third-party resources, and operates only within the system and is provided to companies that participate in a trade operation. At any time, you can delete your data, for this you need to write in support of the site.When you first purchase ETH, you need to go through the verification process (only once). The minimum threshold for acquiring cryptocurrency is $ 50. Credit or debit cards, Visa and MasterCard are accepted. Basically, the entire operation takes less than a day, but in most cases, much earlier. In less than an hour. If a problem arises, you will get a rejection and a full refund.
After confirming your identity, you choose an amount that is automatically converted into euros or US dollars, then Simplex approves your request and exchanges.
Atomic Wallet, eliminates the problem of interaction between different cryptocurrencies, it is a very convenient wallet that allows you to manage your assets in one place. Atomic Wallet charges you 2% commission.
Atomic Wallet: https://atomicwallet.io Buy Bitcoin - https://atomicwallet.io/buy-bitcoin Buy Litecoin - https://atomicwallet.io/buy-litecoin Buy Ethereum - https://atomicwallet.io/buy-ethereum Buy Ripple - https://atomicwallet.io/buy-ripple Buy Bitcoin Cash - https://atomicwallet.io/buy-bitcoin-cash
INFORMATION IN THE ARTICLE DOES NOT CALL ON EVERYONE TO BUY ANYTHING. IT PROVIDES AUTHOR'S ARTICLE ABOUT THE PROJECT.
Bitcointalk Username: FVB Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=1808846
submitted by GTE_IO to u/GTE_IO [link] [comments]
News by Altcoin Buzz: David Abel
Peer-to-peer blockchain platform, Ravencoin, has announced plans to release a Raven membership coin via its twitter handle.
The new Ravencoin membership tokens will purportedly bring along incredible features. Firstly, “the tokens can be sent ONLY ONCE.”
Therefore, users can be confident that the wallet belongs to the same person.
Project Raven / RVN / [email protected] 1) The new membership tokens coming live in Ravencoin soon are able to do some powerful stuff: The tokens can be sent ONLY ONCE — this means the sender can have confidence that the wallet is the same person they sent to This has huge possibilities for both regulated use cases 74 10:30 PM — Sep 22, 2019 Twitter Ads info and privacy33 people are talking about this
Accordingly, this brings huge possibilities for both regulated use cases, like AML / KYC. Thus, a company can create a membership or trading network for people the issuer wants in a network.
Project Raven / RVN / [email protected]encoin · 19h 1) The new membership tokens coming live in Ravencoin soon are able to do some powerful stuff: The tokens can be sent ONLY ONCE — this means the sender can have confidence that the wallet is the same person they sent to This has huge possibilities for both regulated use cases Project Raven / RVN / [email protected] 2) such as AML / KYC — where a company can create a membership or trading network for people the issuer wants in a network And also for non regulated and more cypherpunk use cases which need true censorship resistance — such as a group of activists or dissidents 35 10:30 PM — Sep 22, 2019 Twitter Ads info and privacySee Project Raven / RVN / Ravencoin’s other Tweets
Non-regulated and more cypherpunk use cases are another type. They reportedly need true censorship resistance like a group of activists or dissidents.
Project Raven / RVN / [email protected] · 19h Replying to @Ravencoin 2) such as AML / KYC — where a company can create a membership or trading network for people the issuer wants in a network And also for non regulated and more cypherpunk use cases which need true censorship resistance — such as a group of activists or dissidents Project Raven / RVN / [email protected] 3) RVN assets can be set up to only allow transfer to those wallets who hold the membership token Combine this with IPFS and messaging and we have a robust and powerful network for sending files, documents, securities or other items of value on an open and strong network / 48 10:30 PM — Sep 22, 2019 Twitter Ads info and privacy15 people are talking about this
Secondly, existing membership tokens wallets are the restricted receivers of the RVN assets. Consequently, when combined with IPFS and messaging it gives users a robust and powerful network for sending files, documents, securities or other items of value on an open and strong network.
The news brought about positive comments from the followers. For instance, Bruce Fenton said: “That’s a real thing! Coming soon.” Concurrently, James McCue wrote: “I want the membership token that lets me stay at @brucefenton’s house! I love this project… if only I got my shit together and studied more. Tough with a fulltime gig”.
For new readers, you can find out more about Ravencoin here.
Since its inception, the coin has joined forces with several big players.
In June, Ravencoin was listed by Binance’s official non-custodial wallet app, Trust Wallet. Before then, the Raven Protocol team announced it would be joining the top crypto platform Binance Chain to exploit the full potential of Artificial Intelligence.
Last month, cryptocurrency platform tZERO announced its support for Ravencoin. Thus, adding it to the list of cryptocurrencies supported by its wallet and mobile trading app.
Ravencoin (RVN) is a small cryptocurrency. The CEO of Overstock started it when he invested millions into its development. The coin was created about 7 years ago and is a fork of Bitcoin.
The platform enables tokenized P2P asset transfers on the blockchain. The RVN tokens can be used to create fungible or nonfungible digital assets, as well as non-asset-based tokens like the VOTE.
Therefore, it is your job to protect your Bitcoin wallet. Just like how internet banking allows you to access your account using a username and password, in order to access your Bitcoin wallet, you are given a Public Key (username) and a Private Key (password). To hack your Bitcoin wallet, hackers need to get access to your Private Key. Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Best Bitcoin Exchange. Best Altcoin Exchange. Best Crypto Wallets . Best Cryptocurrency Wallet. Best Bitcoin Wallet. Best Ethereum Wallet. Best Litecoin Wallet. Best Ripple Wallet. Best IOTA Wallet. Best Steem Wallet. Best Verge Wallet. Best DASH Wallet. Top Reviews . Coinbase Review. Kraken Review. eToro Review. Gemini Review. Binance Review ... Robinhood Crypto Wallet: CONS. Now, as I’ve mentioned in the beginning part of the article, the Robinhood crypto wallet being an online exchange-based wallet does come with a lot of issues - this is evident while reading through user feedback, as well.Naturally, as you can probably guess already, the main concerns stem from the security side of things. Spend by scanning the paper wallet’s private key with any Bitcoin Cash wallet thats supports private key sweeping. How it works. 1. Use the client-side wallet generator to create a unique private key and Bitcoin Cash (BCH) address. 2. Print out the wallet on a secure printer. 3. Cut along the border, then fold the private key section over. Use tape to seal the private key section marked ... Electrum - Bitcoin Wallet 4.0.4 Englisch: Mit dem kostelosen Tool Electrum erhalten Sie eine Bitcoin Wallet für den PC. Not sure what is the best Bitcoin wallet? What's the safest Bitcoin wallet and how to choose it? Follow our tutorial on best Bitcoin wallet and find out. For example, Bitcoin can be traded with 150 different coins so we say that Bitcoin has 150 trading pairs on Binance. In this example, our account is funded with Bitcoin, so we are only able to trade with Bitcoin. To find out which cryptocurrencies are offered for trading with Bitcoin, select the option on the top, with a small drop down option. You’ll now be able to see that BTC has 150 ... We are reader supported and may earn a commission when you buy through links on our site. 15 best bitcoin wallets for 2020 (that are safe and easy to use) Aimee O'Driscoll VPN AND CYBERSECURITY EXPERT. February 25, 2018. If you’ve already got some bitcoin or are thinking of buying some, chances are you’re wondering what to do with it. As with many other facets of the cryptocurrency market ... How to trade Bitcoin on Binance Futures. Now that you have created your Binance futures account, it’s time to place your first Bitcoin trade on the Binance futures platform. Placing a trade is very straightforward. First, log in and deposit USDT/BTC into your Futures account as a margin; Choose how much leverage to trade with. Binance futures allows up to 125x leverage. Choose what type of ...
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