Bitcoin Proof-of-Stake: A Peer To Peer Electronic Cash ...

Proof of Work vs. Proof of Stake – What’s the Difference, and Which is Better? – Bitcoin Network, News, Charts, Guides & Analysis

Proof of Work vs. Proof of Stake – What’s the Difference, and Which is Better? – Bitcoin Network, News, Charts, Guides & Analysis submitted by bitnewsbot to bitnewsbot [link] [comments]

Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

Reasons why NANO fails and will keep failing until some things change

Dear NANO community,
This is going to be a long post where I will discuss why NANO under performed and will keep under performing in this bull run unless some things change.
I'm going to start up with straight facts with the famous quote of Floyd Mayweather: "Men lie, women lie, numbers don't lie".
If you feel offended by some of this, facts don't care about your feelings.
Technical Analysis
In the time where BTC Dominance fell from peak of 74% to 56% and keeps falling, NANO has moved from its low of 0.0000640 sats to a price of 0.0000950 sats. That is about 50% gain if you bought on the absolute low, but looking at the monthly chart, we can see that NANO has basically been in the range of 0.0001400 sats to 0.0000750 sats ever since July of 2019 (for more than 2 years).
https://charts.cointrader.pro/snapshot/zaXzV
The all time high of NANO was 0.0028, so this price is currently 96% down in terms of BTC .
https://charts.cointrader.pro/snapshot/tTF4J
With this price NANO is falling out of top 100 cryptocurrency based on market cap.

My thoughts: Considering that entire altcoin market is moving and that it keeps reaching new highs, this is very concerning for NANO and one can only ask themselves why does NANO keep falling behind?
Why does on every Bitcoin pump price falls hardest and on every day when other altcoins go up 30%, NANO only goes up 10%.
Reasons why NANO is lagging on the market:
We all know that NANO has near instantaneous transactions and is fee-less which is why most of us fell in love with this cryptocurrency.
Problem is that it has little to no adoption. What does it matter if NANO is feeless, when you don't have an exchange that will make a NANO/USD conversion for 0%.
Who cares if STR, XRP and other fast coins have like 0.01$ fee if either way, exchange will take 1% or more fees from you.?
If XRP has better exchange, they can easily be more cost efficient than NANO because of this problem. Devs need to be much more proactive rather than sit and wait while entire market is eating you alive.
Proposed solution: Nano needs to invest more in marketing and in making a deal with exchange that will be liquid enough and provide little to no fees on NANO.

I am a NANO holder ever since 2018 and it's been a long ride with constant buying at the end of each month with average buy of 2$ when I look at it totally.
This is not that bad considering NANO's massive fall and what some other holders had to go through.
Let's remind ourselves again, NANO has 0% inflation. And yet NANO's price doesn't grow. Where as other cryptocurrencies have 5-10% inflation and they are over-performing NANO massively.
NANO holders get no rewards from holding NANO which is a big problem. People call this an advantage and I somewhat agree, but NANO holders need to be rewarded with something, because crypto space doesn't care about inflation.
Proposed solution: Introduce POS (Proof of Stake) with inflation of 5% where NANO holders will be able to stake their NANO and receive 5% more NANO each year. You can do this or make it 6% and after each 2 years, there is halving of inflation. Imagine how coins get hyped when their rewards per year get cut in half. NANO has 0% inflation and it doesn't get any hype. It's already scarce, but people fail to see it.

Current bull run has been ignited with DEFI and because people see that they can earn up to 3-5% daily income just for holding ERC20 token like BAT, BAL, LINK etc. There's even been introudect WBTC (Wrapped Bitcoin) and WETH (Wrapped Ethereum), which means that people can hold their cryptocurrency which they would hold even if there weren't any rewards and they get 3-5% daily income + the chance of the DEFI coin actually pumping by 1000+% which many of them have done in the past month.
Because of all of this people are massively buying ERC20 tokens just to get these gains daily.
What has NANO do to interact with this entire DEFI space? Absolutely nothing.
Did they try to introduce wNANO (wrapped NANO) like Ethereum and Bitcoin did? No.
They just kept working on some other bullshit even-though protocol is in of itself 99% perfect and working. They keep focusing their energy on technology when technology is already better than anything else on the crypto market. NANO is currently the best fast cryptocurrency and it is not even close.
Proposed solution: Devs need to start focusing energy on things that matter and which will help the price and not dump their stash and blindly look how everything else keeps growing.

This is similar to reason number 2 but it has to be said separately. Just ask yourself, who benefits of BTC markets? Miners.
Who benefits of any other POS market? All of the holders.
And then with this money you can finance devs which will work on the currency and will by this raise the price and the whole cycle repeats itself.
So all of these things have in common that people are making money of doing something for the ecosystem. On one hand resources get paid, on the other people that are loyal to the project.
NANO has one of the best and largest communities in cryptocurrency and numbers confirm this, yet there is no special way for any of us to benefit of of this. Everything is open source and people make everything for free.
Proposed solution: Introduce mechanism so that community members can earn money of holding NANO.

Conclusion: Nano is an amazing currency, but there are many things that need to fall in place in order for it to stop falling behind the market.
It's sad that investing in what is called a "safest" altcoin Ethereum, would've made you much better gains than even buying NANO on the all time low would.
This post is meant to be constructive criticism and to in the end open peoples mind on current problem NANO has in the space.
Please share this post so more people and hopefully devs can see it and so that we all as a community can start working towards our goal of NANO becoming one of most utilized cryptocurrencies in the world.
submitted by bizi0909 to nanotrade [link] [comments]

New York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains Honest

New York Lawyers Propose Toolkit for Keeping ‘Decentralized’ Blockchains Honest

Image: Tom Adams - Unsplash
A New York law firm is trying to test blockchain projects’ decentralization claims against their perhaps not-quite-so-distributed realities.
Called the “Ketsal Open Standards” rubric, the toolkit, developed by the Ketsal law firm and revealed exclusively to CoinDesk, proposes using hard, measurable data points to either bolster or burst a blockchain’s decentralized credentials.
It’s the latest contribution to a long-raging debate in crypto: when, and how, is something truly decentralized?
Finding that key, said toolkit co-creator and Ketsal partner Josh Garcia, can help investors, security researchers and even securities regulators root out blockchain projects’ sometimes bogus claims.
“It’s a tool to push along an informed discussion on what you’re talking about when you’re saying, ‘my network is decentralized.’”
“Now you can push back” with evidence the assertion is demonstrably false, he said.
Garcia and co-author Jenny Leung’s Open Standards is hardly the first decentralization measurement toolkit. But a review by CoinDesk shows it to be one of the most robust.
Thirty-three data points probe the hard facts behind blockchain decentralization. Many are obvious. For example, the focus network’s node count – a decentralized network should have plenty – and its underlying code’s licensure status – open source or bust – are clear benchmarks.
But others appear to be more novel. Ketsal’s framework proposes weighing the network’s GitHub statistics, measuring inter-node communication times, determining how large a stake of the cryptocurrency rests in wallets (and with the big-investing whales) – and even the theoretical cost of mounting a 51% attack, among others.
Compiling these statistics can help researchers better understand a blockchain’s in-the-moment distribution even if reaching an up-down verdict on its decentralization is impossible, said Garcia.
“It’s not an answer to the question, ‘What is decentralization,’ but it’s a way to find that answer,” he said. “If people can decide whether or not some of these metrics are valid,” they can use their chosen set to test for the type of decentralization they’re looking at.
Providing a broad selection of diverse metrics is critical, he said, because of the political, computational and economic analysts searching for a “decentralization” particular to them. A securities regulator concerned with the Howey Test would likely choose different data points than a security researcher probing the network for holes.
But different analysts also might hone in on similar points. For one, mining power concentration, or the concentration of miners whose computational efforts cryptographically secure proof-of-work blockchains, is a critical benchmark for any decentralization hawk.
If all the key miners are geographically concentrated or grouped into a single pool, a blockchain may face mounting centralization and security risks, according to Ketsal. Just four pools mined 58% of Bitcoin blocks in the past year, the rubric shows.
Garcia said his team spent months compiling all the relevant data points from the world’s best-known blockchain network. Bitcoin’s resilience as well as the consensus agreement that it is decentralized make it an ideal case study, and Garcia said it’s the obvious benchmark to hold other projects against.
“If you do the same exact chart for another blockchain network, and you compare it side by side to Bitcoin … you know how far off you are from [decentralization]” he said.
Originally published by Danny Nelson | October 21, 2020 Coindesk
submitted by kjonesatjaagnet to JAAGNet [link] [comments]

What is Cardano? [ADA]

What is Cardano?

Cardano is a Blockchain project, also called 3rd generation Blockchain because of its scientific philosophy, designed and developed by a team of worldwide scientists and engineers. The aim of the project is to develop a technology that is secure, flexible and scalable and can therefore be used by many millions of users.
In contrast to other projects, Cardano pursues a policy that seeks to reconcile the needs of the user with those of the regulatory authorities, combining privacy with regulation. Cardano’s vision is that the project will lead to greater global financial integration for all people by providing all people with open access to fair financial services. Cardano wants to create a technological platform on which financial applications can be developed and executed.
It has basically great similarities with Ethereum. Cardano is a platform such as Ethereum, EOS or NEO that enables the creation of new tokens and decentralized applications (dApps) and smart contracts. From a technical point of view, however, there are major differences which we will discuss later.
The cryptocurrency of Cardano is ADA. Like any crypto currency, ADA allows the user to send assets within the Cardano network seamlessly over the Internet in a secure and fast manner. You can find the current price of ADA on our chart page.

Cardano History

Cardano was founded by Ethereum co-founders Charles Hoskinson and Jeremy Wood after both left the Ethereum project after a disagreement over further development. While the later Cardano founders wanted to create a commercial enterprise behind Ethereum, Vitalik Buterin’s group was able to assert itself by setting up a charitable foundation behind the project.
Logically, Hoskinson and Wood founded a company, Input Output Hong Kong (IOHK), to manage Cardano’s research and development. Between September 2015 and January 2017, Cardano conducted a public ICO that raised a total of 62 million US dollars. About two thirds of all Ada tokens were sold.
Cardano was officially launched on 29 September 2017. Currently the project is still in its bootstrap era (“Byron”). In the bootstrap era, when people buy or sell Ada, the transaction is automatically delegated to a pool of trusted nodes that manage the network. They do not receive block rewards in this phase of the project. IOHK is currently working on numerous improvements and features. The next phase “Shelley” is to be introduced in 2019. In this phase, the project will grow into a fully decentralized and autonomous system.
This will be followed by the “Goguen” era, in which the integration of smart contracts is planned. This is followed by the “Basho” phase, which is intended to improve performance, and finally the “Voltaire” phase, which is intended to add a treasury system and a governance model (“Liquid Democracy”). The complete roadmap can be seen here.

The organization behind Cardano

As already written, Charles Hoskinson has decided to found the company IOHK in order to guarantee a coordinated and planned development of the project. IOHK is responsible for the design, development and maintenance of the Cardano platform until 2020.
In addition, however, there were originally two other institutions that took care of the Cardano project: Emurgo and the Cardano Foundation, based in Switzerland. Emurgo is a Japanese company that is also currently pushing partnerships with other commercial companies and organizing Cardano’s business development.
In particular, the Cardano Foundation was entrusted with administrative tasks. Otherwise the Foundation was responsible for public relations, trademark law, lobbying and cooperation with governments and regulators. In October 2018, however, there was a break between IOHK/ Emurgo and the Cardano Foundation. Among other things, Hoskinson has accused the Cardano Foundation under the direction of Michael Parsons of inaction. As a result IOHK and Emurgo decided to take over the tasks of the foundation.

Cardano: 3rd generation blockchain

Charles Hoskinson has recognized that 2nd generation blockchains still have many open problems to be successful in the long run. These are in particular scalability, interoperability and sustainability. Cardano has (partly) developed new concepts and technologies for this purpose.

Scalability

In terms of scalability, there are three challenges for Cardano:
  1. Transactions per second (TPS)
  2. Network / Bandwidth
  3. Data scaling

Transactions per second

The Transactions per Second (TPS) measure how many transactions per second can be written to a block. According to Hoskinson, however, this is only part of the problem of scaling. While Bitcoin 3-7 TPS and Ethereum 10-20 TPS create, this is far from enough to host millions of users. The solution to this problem is Cardanos Ouroboros Proof-of-Stake algorithm, which we will discuss later.

Network

A further challenge is the network, which will also have an exponentially increasing demand for network resources with millions of users as the demand increases with the number of transactions. The demand will grow in size regions of several hundred terabytes or even exabytes.
Therefore, it will be impossible to maintain a homogeneous network topology in which each node forwards each transaction and message. Not every node will have the necessary resources. To solve this problem, Cardano intends to use a technology called RINA.

Data scaling

Since the blockchain has to store the data forever, there will be an enormous and constantly growing amount of data to be scaled (“Data Scale”). The problem is obvious. If every node has to keep a complete copy of the entire blockchain, this will not be possible for every node from the point of view of resources. The solution is that not every node needs all data. The solution approaches therefore include in detail:

Interoperability

Charles Hoskinson believes that there will not be a single crypto currency to be used in the future. Therefore Cardano aims at enabling the different blockchains to communicate with each other. Cardano’s vision is to create an “Internet of blockchains” in which there is no intermediary.
A solution to this problem should be for Cardano, Sidechains. The concept has been around in crypto space for quite some time. Simply put, sidechains are parallel blockchains that can communicate with the main blockchain.
In addition, Cardano tries to comply with all existing compliance rules: KYC (Know Your Customer), AML (Anti Money Laundering), ATF (Anti Terrorist Financing). In order for this to work, Cardano provides metadata to each transaction.

Sustainability

According to Hoskinson, sustainability is the most difficult challenge. Basically, it means that continuous developments must be carried out on the system. This requires financial resources. Both a patronage and an ICO do not make sense for Hoskinson. Patronage leads to centralization, while ICOs provide short-term resources for the ecosystem, but at the same time produce a new, useless token.
For this reason, Cardano is oriented towards Dash’s treasury system. Each time a block is added to the block chain, a portion of the rewards is added to the Treasury. If funds are needed for development, they can be allocated.
To this end, Cardano has developed a governance model (“liquid democracy”) in which stakeholders can vote on a proposal for the distribution of funds.

Ada: Ouroboros Proof-of-Stake

Similar to Ethereum’s future proof-of-stake (PoS) “Casper”, Cardano also relies on a PoS. This means that there are no miners within the Cardano network responsible for validating transactions. A new proof-of-stake algorithm called Ouroboros was developed for Cardano. The basic difference between Ouroboros and Ethereum’s Casper or other similar algorithms is how block premium recipients (validators) are selected.
The core idea of the Ouroboros Proof of Stake is that a node is selected to create a new block with a probability proportional to the total number of Ada. This means that the more Ada a stakeholder has, the more he can earn over time.
In principle, each node with an Ada credit balance greater than 0 is referred to as a “stakeholder”. When a node is selected to create a new block, it is called a slot leader. The slot leader writes the transactions into a block, signs this block with his secret key and publishes the block in the network.
A fundamental problem in this electoral process is randomness. To achieve this, Cardano uses a Multiparty Computation (MPC) approach in which each voter independently performs an action called coin tossing (Coin-Fllipping Protocol).
submitted by hashatoshi to u/hashatoshi [link] [comments]

Why Ethereum Problems Make UMI the Flagship Among the New Generation Cryptocurrencies

Why Ethereum Problems Make UMI the Flagship Among the New Generation Cryptocurrencies

https://preview.redd.it/8skuypxp9lj51.jpg?width=1023&format=pjpg&auto=webp&s=ba5a38ba592428f92dc7c1943a780ff127132875
Ethereum cryptocurrency that comes second in terms of capitalization on the crypto market is traditionally seen as fast and profitable. However, over the last few weeks it's had a rough patch. Since early August, the network has had huge queues of transactions pending processing while fees have skyrocketed and surpassed the historical high.
The main issue though is that even fees of a few dollars per transfer don't help get rid of the“traffic jams”. The cause of this is numerous DeFi projects and a huge number of financial pyramids based on the Ethereum platform. Both generate excessive load on the network.
The situation is downright unpleasant, and our users might question whether the UMI network could face a similar challenge? We'd like to assure you it could not. The UMI network is by default protected against these problems — it cannot have “traffic jams”, fees or financial pyramids. But first things first.
How has the Ethereum network ground to a halt?
In its report dated August 4, Arcane Research that provides analysis within the field of cryptocurrency stated that over the previous week the daily size of transaction fees in the Ethereum network has surged up to a record high for over two and a half years. On August 3, the median value #%D0%9F%D1%80%D0%B8%D0%BC%D0%B5%D1%80_%D0%B8%D1%81%D0%BF%D0%BE%D0%BB%D1%8C%D0%B7%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D1%8F)of the fee amounted to $0.82, with the overall amount of transaction fees totaling $2 mln. However, it only signaled the start of real problems.
Over the next week, fees continued to grow and by August 11 the median fee value almost doubled equaling $1.57. Larry Cermak, an expert at a big analytical and news-making crypto portal The Block, wrote in his August 15 tweet that over a week the total amount of transaction fees in the Ethereum network totaled $34.5 mln, having surpassed its historical high. Meanwhile, in the Bitcoin network that is seen as too expensive the fees were almost four times lower at $9 mln.
The total fee amount paid by cryptocurrency users over a week:
  • Ethereum — $34.5 mln;
  • Bitcoin — $9 mln;
  • Monero — $2,240;
  • Tezos — $1,876;
  • Cardano — $1,615;
  • XRP — $1,138;
  • BSV — $1,102;
  • Stellar — $1,059;
  • Bitcoin Cash — $1,027;
  • UMI — $0. Let's talk about it a little later.

https://preview.redd.it/z9azd9v6alj51.png?width=1600&format=png&auto=webp&s=25c365d6e14665ecda4a2b8d19b2fc57dd5cde1e
Historical Growth Chart for Ethereum Fees. Source
The existing situation shows that Ethereum is actually not as fast and profitable as commonly cited. Additionally, this could happen to almost any cryptocurrency except UMI that charges no fees whatsoever. We will tell you why.
Why have these problems emerged?
There is nothing unoriginal: the Ethereum network simply can't handle an increased load. Arcane Research analysts consider that a principal cause of this situation is the constantly increasing number of the DeFi ecosystem projects built on the Ethereum blockchain. Their number is growing all the time which causes the overload of the network. As of August 12, the total amount of funds in DeFi applications reached $4.3 billion which is 19.5% higher than that in the past week. At the time of writing this article, the amount surged to $6.21 billion. You can see the current data here. What is the most unpleasant about DeFi protocols is that a lot of them are scam projects.
Which is not the worst part though. There is also another factor that significantly slows down the Ethereum network. There are a lot of pyramid-like projects that are built on the EOS platform and use smart contracts. One of them is SmartWay Forsage, which regularly overloads the network with a large number of transactions, causes traffic jams, and, consequently, leads to increased fees (keep in mind that Ethereum miners choose transactions with a higher commission). Vitalik Buterin, the co-founder of Ethereum, revealed his disapproval of the SmartWay Forsage methodology and asked them to "leave and not pollute Ethereum ecology in the future". However, the project is slow to do this — it continues to deceive users.
This is only the tip of the iceberg of scam projects which abounds on the EOS network –– they continually emerge, work for a while, then go down as scams and are replaced with new ones. This never-ending stream of "investment projects" based on the Ponzi scheme overloads the system. This is the reason why Adam Back, a pioneer of the crypto industry and founder of the technology company Blockstream, equated Ethereum with such infamous projects as Onecoin and Bitconnect. Adam Back's solid dig at Ethereum became the subject of much debate among crypto enthusiasts.
Of course, it all doesn't mean that Ethereum is a bad cryptocurrency. On the contrary, it has a lot of advantages over other coins. But all that has happened exposes Ethereum's faults which must be eliminated. The problem is that they may not be fixable. It is far from certain that the developers will be able to get rid of all the defects as the system has huge scalability problems.
The crypto community has to admit that Ethereum, like other first-generation cryptocurrencies, has issues with capacity, fees, and scalability and is gradually becoming obsolete.
2020 is the time for young innovative cryptocurrencies such as UMI.
UMI is the flagship of new-generation cryptocurrencies.
In real fact, any cryptocurrency could face it. Each cryptocurrency charges fees which typically surge when the network is overloaded or the price is going up. Everyone will remember 2017 when in line with price growth and the network's overload Bitcoin transaction fee reached a high of around $40.
But when it comes to UMI, it works the other way round. The UMI network's advantages are high capacity, no fees, and scaling possibilities. It uses the best and fastest crypto industry solutions and excludes all inefficient methods by default. Smart optimization in combination with the Proof-of-Authority technology operating on the master node basis enables almost instant payments.
At the stage of network testing, an incredibly high capacity was achieved:
  • up to 4,369 transactions per second;
  • up to 262,140 transactions per minute;
  • up to 15,728,400 transactions per hour;
  • up to 377,481,600 transactions per day.
Ethereum processes about 20 transactions per second. It means that the UMI network can process transactions that Ethereum processes over a year in 1 to 5 days — and with no fees.
https://preview.redd.it/rwohnov3alj51.png?width=1125&format=png&auto=webp&s=4329b75c0bd8b7a22276b529f5ca433d17a0874f
The UMI network can process transactions that Ethereum processes over a year in a few days and with no fees. More details
What is more important is that less than 0.001% of the network's overall potential is used now. The UMI network has a lot of reserve capacity and can handle hundreds of thousands of times heavier load. Moreover, with scaling possibilities, UMI can keep up with the times. The UMI code ensures the safe introduction of any upgrades — the network can be easily modified and scaled with cutting edge technology solutions. In other words, traffic jams will never pose a problem for us. UMI will instantly process all transactions, with no fees. Always.
https://preview.redd.it/t0068th0alj51.png?width=544&format=png&auto=webp&s=019f46ec8c093480c4638cf098312a5a146134a8
A real-time speedometer displays the number of transactions processed by the UMI network per second. Link
Additionally, unlike Ethereum and other cryptocurrencies, the UMI's staking smart contract prevents possibilities of any pyramid schemes, meaning eliminates their negative influence. Our staking is completely safe and secured against scammers. Read more about this in our article. Any UMI staking structure could work forever. In other words, you can multiply your coins at a rate of up to 40% per month for an indefinitely long period of time.
UMI doesn't inherit the disadvantages of the first-generation cryptocurrencies. This is an innovative, carefully designed network based on state-of-the-art technologies. UMI is an ambitious step toward the future. And we're making it together right now!
Sincerely yours, UMI team
submitted by UMITop to u/UMITop [link] [comments]

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

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

Binance

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

Binance Weaknesses

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

Binance Wrap Up

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

Coinbase

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

Coinbase Strengths

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

Coinbase Weaknesses

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

Coinbase Wrap Up

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

Honorable Mentions

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

Wrap Up

Coinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
------
Other Ways to Consume Today's Episode:
Follow our social channels: https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

08-13 21:45 - 'Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol' (self.Bitcoin) by /u/Nest_Fan removed from /r/Bitcoin within 24-34min

'''
As the world’s leading regulatory compliant digital asset exchange, Coinbase sets one of the most stringent requirements for digital asset listing which includes technical evaluation of projects, legal and risk analysis, market supply and demand analysis, and crypto-economics. Coinbase holds a strong reputation in the digital asset industry, and thus the “Coinbase Standard” is considered as the industry benchmark for other digital asset projects, and the market has even seen the “Coinbase effect”.
On July 25 2020, Coinbase quietly launched the pricing chart of a decentralized oracle project, NEST Protocol (NEST), into its portal. Although Coinbase has yet to announce the inclusion of the project in its evaluation list, it represents a keen interest in the DeFi sector, and particularly in the DeFi price oracle projects.
NEST Protocol is the rising star in the decentralized price oracle sector
Decentralized financial services offered by the current mainstream DeFi platforms such as MakerDAO, Compound, dYdX, etc. rely heavily on the market data provided by the oracle projects. Oracle projects act as reliable information sources to feed these price data to other DeFi Projects, connecting the price data from the centralized world to the DeFi space. As such, the price oracle is an integral part of the decentralized financial services infrastructure.
Traditionally, the price oracle collects data from different platforms and feeds these data points to the DeFi space to create data reference points to enable them to function properly. However, many problems currently exist in the DeFi space, for example, blockchain network congestion, malicious attacks, wild market fluctuations, and other factors that may cause the data given by the price oracle to deviate from the true market data. These ultimately cause users to trade on wrong information in the DeFi space and increases such transaction costs.
Decentralized finance requires a fast, secure, and reliable price oracle. The birth of the decentralized price oracle is the embodiment of the blockchain industry’s thinking, and the current market projects offering decentralized price oracle services which includes NEST Protocol, Chainlink, Band Protocol, Tellor, Witness, Oraclize, and many others.
The innovation of NEST-Price is that every data point has been agreed upon by market validators, in line with the blockchain consensus mechanism. NEST-Price synchronizes the off-chain price in a highly decentralized manner, creating real and valid price data on-chain. This is the unique differentiator between NEST-Price and other price oracles.
Compared with other price oracle projects, NEST also has other features and advantages, such as the proposed peer-to-peer quotation matching as well as its unique verifier verification structure, making NEST more resilient to malicious attacks, resulting in a more decentralized network, and it’s on-chain prices closer to the fair market price. All of this has resulted in the NEST Protocol becoming a rising star in the DeFi price oracle sector. HBTC.com selects high-quality projects to list and partnering with NEST to promote the development of DeFi ecosystem
During the selection of quality assets, exchanges like [HBTC.com]1 and Coinbase adhere to the principle of a rigorous selection of assets from different projects to enable a proper range of digital assets. At the same time, in order to solve existing pain points in the digital asset industry, which currently lacks a market-making management solution, HBTC.com also has launched its own “coin listing crowdsourcing [liquidity initiative]2 “, redefining the exchange market making model.
HBTC.com, through its coin listing strategy, effectively reduces the problem of low liquidity in the early stages of high-quality projects, ensuring the smoothness of the user experience, and achieves a win-win situation for traders, the community, and the respective trading platform. These initiatives, coupled with reliable user protection and a responsible attitude, have earned a positive reputation among users.
Since its inception, the HBTC.com exchange has been committed to the discovery of both quality and promising digital asset projects. At a time when DeFi is growing rapidly, HBTC.com has a unique perspective for the decentralized price oracle sector and has prioritized NEST as a premium partner to debut the project alongside with its global branding upgrade. In addition, HBTC.com has [100% proof of reserves]3 for traders to validate the existence of assets via the Merkle tree, which brings transparency to the extreme.
In May 2020, NEST token delivered a 883.29% of return, at its peak, after its global debut on HBTC.com. At present, HBTC Exchange addresses holding NEST token accounts in a total of 141 million, ranked first in the overall network. At the same time, the HBTC Exchange network exclusively releases NEST staking mining and data show that NEST 24-hour turnover has reached $20.4 million.
Post-listing of the NEST token, HBTC.com has also listed DeFi projects such as DF, OKS, NEST, SWTH, JST, NVT, and other DeFi projects with market potential; some projects have achieved astonishing performance in the secondary market.
HBTC.com’s path to DeFi: developing public chains to prepare for the future ecosystem breakout.
In terms of the DeFi product and ecosystem infrastructure, HBTC has deployed HBTC Chain since launched in 2018, an infrastructure designed for decentralized finance and DeFi business with patented Bluehelix decentralized cross-chain clearing and custody technology.
The HBTC Chain is the DeFi ecosystem infrastructure that the team has spent a significant amount of effort to build. It is based on decentralization and community consensus and integrates cryptography and blockchain technologies to support decentralized association-based governance capabilities at the technical level. Based on decentralized key management, combining various cryptography tools including ECDSA, commitment, zero-knowledge proof, and multi-party computation, It implements the distributed private key generation and signature for cross-chain assets among all validators. On top of that, this technology can realize light-weight and non-intrusive cross-chain asset custody. On the clearing layer, HBTC Chain employs BHPOS consensus and horizontal sharding mechanisms to achieve high-performing transaction clearing, and implementation of OpenDex protocol to help the development of the DeFi ecosystem.
In addition, with the success experience of Bluehelix Cloud SaaS and white label solutions and the HBTC Brokerage system, HBTC’s public chain also innovatively supports CEX+DEX mixed matchmaking model and OpenDex protocol and proposes the three-tier node system which consists of standard node + consensus node + core node. This structure provides HBTC public chain certain advantages in terms of performance and cross-chain transactions. Users can easily establish a DEX with OpenDex protocol at nearly zero cost, and all DEX will share the liquidity and support customized user interface and trading parameters. The trading experience can be completely comparable to centralized spot exchanges.
With the launch of its test network, it is now possible to develop various DeFi applications on the HBTC public chain, such as decentralized swap, so that private keys are not controlled by any party; no KYC, which can prevent personal information leakage; and asset security through the setting of invalidation, cancellation of transactions and other functions, cross-chain asset mappings, such as the ability to issue cross-chain cBTC or other chain tokens, fully decentralized asset mapping contracts, and 100% reserves.
Conclusion
In the past few months, the DeFi market has been extremely active, the price of DeFi tokens has been rising, and a new round of competition with the centralized exchanges has started. HBTC Chain relies on the powerful technology of Bluehelix and [HBTC.com]1 , giving all public chains the ability to interconnect, and put into both DeFi and SaaS levels. Undoubtedly, as one of the first exchanges to build the DeFi ecosystem, HBTC is leading the breakout in the current DeFi craze and has now become the first choice of users to engage with quality DeFi projects.

From BITCOIN news([[link]6 )
'''
Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol
Go1dfish undelete link
unreddit undelete link
Author: Nest_Fan
1: *btc*com/ 2: m*diu**com/hbt***ficia*/hbt*-launches-ba**liquidi*y***owd*unding-li*ti*g-plan-redefine-t*e*exch*nge-*i*tin**m*d*l***6*58f*f1d* 3: hbtc.ze**e*k*co*/hc/*n-us/a**icles/3***46287754-HBT*-10*-*ro***of*Reserve 4: hb*c.co*/ 5: n*ws.bitcoin.c*m*bu*ld*ng-t**-infr***ructur*-f*r-the*fut*re*decen**ali**d-*inanc*a*-market-coi**as*-*ncluded-h*t*-*o*-*ebut-de**-p*oject-n*st-**otocol* 6: n**s.bit*oin*com/building-th*-infrast*u*ture*for-t*e-fut****decen**a**zed**inancia*-m*rket-coinbase-**c*uded-*b*c-c***deb***defi-**oject-*est**r**ocol/]^^5
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Ethereum Rallies Up 17% Amid Exponential DeFi Growth

Ethereum Rallies Up 17% Amid Exponential DeFi Growth

Meanwhile, Rumors Of ETH 2.0 Testnet Going Live Gave A Further Boost To Ethereum’s Price, Despite Growing Gas Fees
The world’s second-largest cryptocurrency to date, Ethereum, managed to reach a price point as high as $278 on Coinbase in what it seems a week of upwards momentum for Ethereum.
Ethereum’s price broke above the $250 resistance level on Wednesday, July 22, with strong bullish sentiment and growing trading volumes. The recent DeFi boom also contributed to the price surge, as on Thursday, July 23, Ethereum spiked several times, securing both the $250 and $260 zones, which can be considered as a support, if a negative correction occurs.
Crypto experts consolidated upon the statement that if Ethereum secures the $285 resistance, the crypto sector may see the second-largest crypto to skyrocket past $300, which would mean a new 52-week high, according to data from Cryptobrowser.io
However, the upward momentum may be put to a halt, as transaction fees, otherwise known as gas, are exponentially growing. The current gas price situation made Vitalilk Buterin, Ethereum’s co-founder, to bring a proposal for restructuring gas fees across the blockchain. Interestingly, the gas prices increase didn’t stop Ethereum’s upwards rally. Further, one of the biggest gas spenders, Tether, also accounts for the increase in network usage, as 59% of all circulating USDT tokens are currently on Ethereum’s network. Ethereum also surpassed the leading cryptocurrency to date, Bitcoin, in terms of network usage.
DeFi also accounts for the increased Ethereum network usage, as the total value locked (TVL) in DeFi projects hit a new all-time high of $3,5 billion, with a peak of 4 million ETH tokens locked in DeFi apps. The rapid growth means DeFi made an 87% increase in TVL in July alone, with a whopping 400% TVL increase since the start of 2020.
Source: DeFi Pulse
Meanwhile, crypto analysts consider the long-awaited ETH 2.0 update to be at the core of Ethereum’s upwards rally. Ethereum officials stated that a testnet for ETH 2.0 would go live on August 4, which is the first step for transitioning from a Proof-of-work (PoW) to a Proof-of-stake (PoS) transaction validation mechanism.
The much-anticipated network update created a vast demand for Ethereum options contracts, with investors betting Ethereum’s price would reach the $400-$800 regions. Over $230 million were put into call options, with 6000 contracts expiring on September 25.
Also, crypto derivatives exchange Deribit looked into the possibility for Ethereum to reach and surpass $400 by the end of September or December. It turns out, the odds of Ethereum hitting $400 are 18% and 34%, respectively.
Despite the forecasts, the market is still optimistic in a future price rally above $400. Bitazu Capital’s Mohit Sorout published a chart on Twitter, stating that Ethereum’s climb to $360 “will be fast”, with “Two months of sellers reevaluating their life choices now.”
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]

According to Analyst Ethereum could face a short crash

Bitcoin's little brother Ethereum has been surprisingly stable in recent weeks. In the opinion of a crypto expert, however, this could soon be over.
Since the price slump in March caused by the corona panic, Ethereum has so far recovered well.
Although the cryptocurrency is still far from the 52-week high that it reached in July 2019, the cyber device is still on the up.
In the past few weeks, internet money has shown surprisingly little volatility and only fluctuated within very narrow ranges.

Chart technique indicates Ethereum price decline

However, crypto expert Edward Morra recently warned on Twitter that the sideways movement could soon be over.
Morra uses an Ethereum chart to explain this, which he believes shows the formation of a "Chuvashov fork". According to him, the Ethereum price could drop to around $ 175 if this fork broke and the Ethereum price fell below the $ 220 mark.
That would correspond to a slump of around 30 percent compared to the current price. For this reason, the Ethereum expert advises put options to minimize the risk. This is also recommended as these are currently very cheap.

Active Ethereum wallets at two-year high

But even if the Ethereum course could go downhill in the short term, the acceptance of cyberdevise seems to continue to increase.
As data from the blockchain analysis portal Glassnode, which are available from BTC Echo, show, the number of active Etherum wallets has only recently reached its highest level in two years.
It is also interesting to see that the number of active Ethereum addresses correlates less and less with the price of an Ethereum.
Glassnode data show that the number of active wallets has increased significantly since the beginning of the year, whereas the Ethereum price remained within narrow ranges.

More scalability is urgently needed

However, as BTC Echo points out, the upcoming Hard Fork Ethereum from the proof-of-work process to the proof-of-stake process could prove to be vital for the cyber device.
This is the only way to achieve the necessary scalability that would help Ethereum to remain relevant to the "decentralized financial system" (DeFi).
After all, there are already other cryptocurrencies that would rely on a mechanism without a miner from the start and would already be efficient enough to be used on the DeFi platform.
Cardano is a prime example of such a cyber device. Cardano has only recently seen a rapid upturn and is currently in seventh place in terms of market capitalization among e-currencies.
The future of Ethereum also depends on the extent to which the cryptocurrency continues to develop in order to keep up with the progress in the crypto market.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

CRYPTO WEEKLY NEWS — May, 8

What important crypto events happened last week?
📌 Block number 10,000,000 was mined on Ethereum on the 4th of May 2020 setting the number of blocks mined on the second-largest blockchain over 15 times more than Bitcoin despite being 5 years younger. Congrats! Meanwhile, Vitalik Buterin spoke about the expected reduction in the annual Ethereum issue from the current 4.7 million coins to 100 thousand-2 million after switching to the Proof-of-Stake consensus algorithm. The rejection of Proof-of-Work in favor of Proof-of-Stake is due to the desire to reduce inflation in the blockchain. Speaking about Ethereum, ConsenSys, the leading Ethereum dApp development studio is adjusting to the conditions of the devastating crisis of COVID-19 and will present Ethereal Summit completely virtually on May 7-8. Such an event takes place virtually for the very first time. And from May 29 to June 16, the Planet Wide SOS online hackathon will take place. The participants will share business ideas to overcome the global crisis. The best of them will receive financing for implementation. The event will be opened by Ethereum founder Vitalik Buterin and Singularity.Net CEO Ben Herzel.
📌 Well, it's all about the upcoming Bitcoin halving right now. The experts say that BTC is now the most profitable investment by far, rising 21% from $7,203 at the start of 2020 with equities suffering big losses in 2020 and gold up 7.83% on the year. The price of Bitcoin is around $9,000, after last week's impressive 20% rally in a single day. All seems to be going well. However, there is one chart view that suggests that BTC may still be in a downtrend. Following the price recovery trend, the whales are actively accumulating Bitcoin. According to Glassnode, from the beginning of March 2020, the number of the largest bitcoin addresses grew by 11% and reached 111, the highest since the beginning of August 2019.
📌 Ripple has published a financial report for the first quarter of this year. During this period, the company sold XRP for $1.75 million. In the last quarter of 2019, this figure reached $13.08 million. The drop in sales was a record 87%, and this is the worst Ripple record ever. The decline is due to a sharp decrease in direct institutional sales, as well as a prolonged pause in sales to cryptocurrency exchanges.
📌 Owing to the drastic economic effect of coronavirus in Italy and also a way to survive these hard times, a small Italy town, Castellino del Biferno, with 550 residents, began minting their local currency dubbed “Ducati”.
📌 Global Digital Assets (GDA), the first merchant bank in North America to focus on blockchain and digital assets, announced that it will be joining the DigitalBits ecosystem to further enterprise adoption for branded cryptocurrencies.
📌 The ever-entertaining John McAfee is 99% certain he knows who Satoshi Nakamoto is. McAfee claims that linguistic analysis of the whitepaper is all that is needed to uncover Satoshi’s identity. But he won't name this person.
📌 In honor of its seventh birthday, CoinMarketCap organized the so-called roast challenge, inviting the participants of the crypto community to sincerely hook on the popular analytical service in the comments under the Twitter post. Happy Birthday, CMC! And yes, the comments are so good they deserve your attention.
submitted by CoinjoyAssistant to EtherMining [link] [comments]

Your winning percentages are what make Infinity Vest amazing!

Your winning percentages are what make Infinity Vest amazing!
We are the Definity Labs. Decentralized Finance Leaders: We develop our own decentralized applications to better our community, while also keeping our community informed of the latest events happening in the DeFi ecosystem.

https://preview.redd.it/prmmf4osli051.png?width=768&format=png&auto=webp&s=839cd7f2a9c9bc4cf2cc179e655c009a8a304f7c
For our latest DAPP click on: INFINITY VEST

Ethereum’s Popularity Problem: Fees are Surging

By Andy Boyan
There’s a common gripe among Ethereum users these days —gas is too damn high. Transaction fees are surging as Tether continues to move to the second-largest blockchain network.
Fees paid on the Ethereum network have surpassed 500 ETH every day since April 15, according to Etherscan. That’s the longest stretch since three months at the height of the latest crypto bubble, between December 2017 and March 2018. What’s more, total daily fees paid have breached 2,000 ETH three times in May, a level that’s been crossed a few dozen times in all of Ethereum’s five-year history. The average for the past week was at 1,700 ETH.

Image source: Etherscan
Tether (USDT) is the main culprit. Users have paid almost $1.4M in the past 30 days for using the stablecoin, according ETH Gas Station. Much of that activity is coming from exchange-to-exchange transfers, which signals arbitrage trading. There are also several ponzi scams that make up the top seven spots including noted pyramid scam MMM, which continues its long program of ponzi scheming.

Financial Layer

While frustrating for end-users, higher fees are a sign the network is getting used as a financial settlement layer. Dexes and stablecoins account for about half of the top 25 projects.
Another positive: high fees are a sign Ethereum’s transition to proof-of-stake will be sustainable. Fees are higher than expected rewards for PoS validators, Vitalik Buterin said earlier this week. Building an attractive staking yield is critical to maintaining decentralized and robust network security, according to a March report by Delphi Digital.
Read more
submitted by Shudip_477 to DefinityLabs [link] [comments]

CRYPTO WEEKLY NEWS — May, 8

What important crypto events happened last week?
📌 Well, it's all about the upcoming Bitcoin halving right now. The experts say that BTC is now the most profitable investment by far, rising 21% from $7,203 at the start of 2020 with equities suffering big losses in 2020 and gold up 7.83% on the year. The price of Bitcoin is around $9,000, after last week's impressive 20% rally in a single day. All seems to be going well. However, there is one chart view that suggests that BTC may still be in a downtrend. Following the price recovery trend, the whales are actively accumulating Bitcoin. According to Glassnode, from the beginning of March 2020, the number of the largest bitcoin addresses grew by 11% and reached 111, the highest since the beginning of August 2019.
📌 Ripple has published a financial report for the first quarter of this year. During this period, the company sold XRP for $1.75 million. In the last quarter of 2019, this figure reached $13.08 million. The drop in sales was a record 87%, and this is the worst Ripple record ever. The decline is due to a sharp decrease in direct institutional sales, as well as a prolonged pause in sales to cryptocurrency exchanges.
📌 Block number 10,000,000 was mined on Ethereum on the 4th of May 2020 setting the number of blocks mined on the second-largest blockchain over 15 times more than Bitcoin despite being 5 years younger. Congrats! Meanwhile, Vitalik Buterin spoke about the expected reduction in the annual Ethereum issue from the current 4.7 million coins to 100 thousand-2 million after switching to the Proof-of-Stake consensus algorithm. The rejection of Proof-of-Work in favor of Proof-of-Stake is due to the desire to reduce inflation in the blockchain. Speaking about Ethereum, ConsenSys, the leading Ethereum dApp development studio, is adjusting to the conditions of the devastating crisis of COVID-19 and will present Ethereal Summit completely virtually on May 7-8. Such an event takes place virtually for the very first time. And from May 29 to June 16, the Planet Wide SOS online hackathon will take place. The participants will share business ideas to overcome the global crisis. The best of them will receive financing for implementation. The event will be opened by Ethereum founder Vitalik Buterin and Singularity.Net CEO Ben Herzel.
📌 Owing to the drastic economic effect of coronavirus in Italy and also a way to survive these hard times, a small Italy town, Castellino del Biferno, with 550 residents, began minting their local currency dubbed “Ducati”.
📌 Global Digital Assets (GDA), the first merchant bank in North America to focus on blockchain and digital assets, announced that it will be joining the DigitalBits ecosystem to further enterprise adoption for branded cryptocurrencies.
📌 The ever-entertaining John McAfee is 99% certain he knows who Satoshi Nakamoto is. McAfee claims that linguistic analysis of the whitepaper is all that is needed to uncover Satoshi’s identity. But he won't name this person.
📌 In honor of its seventh birthday, CoinMarketCap organized the so-called roast challenge, inviting the participants of the crypto community to sincerely hook on the popular analytical service in the comments under the Twitter post. Happy Birthday, CMC! And yes, the comments are so good they deserve your attention.
submitted by CoinjoyAssistant to RippleTalk [link] [comments]

CRYPTO WEEKLY NEWS — May, 8

What important crypto events happened last week?
📌 Block number 10,000,000 was mined on Ethereum on the 4th of May 2020 setting the number of blocks mined on the second-largest blockchain over 15 times more than Bitcoin despite being 5 years younger. Congrats! Meanwhile, Vitalik Buterin spoke about the expected reduction in the annual Ethereum issue from the current 4.7 million coins to 100 thousand-2 million after switching to the Proof-of-Stake consensus algorithm. The rejection of Proof-of-Work in favor of Proof-of-Stake is due to the desire to reduce inflation in the blockchain. Speaking about Ethereum, ConsenSys, the leading Ethereum dApp development studio is adjusting to the conditions of the devastating crisis of COVID-19 and will present Ethereal Summit completely virtually on May 7-8. Such an event takes place virtually for the very first time. And from May 29 to June 16, the Planet Wide SOS online hackathon will take place. The participants will share business ideas to overcome the global crisis. The best of them will receive financing for implementation. The event will be opened by Ethereum founder Vitalik Buterin and Singularity.Net CEO Ben Herzel.
📌 Well, it's all about the upcoming Bitcoin halving right now. The experts say that BTC is now the most profitable investment by far, rising 21% from $7,203 at the start of 2020 with equities suffering big losses in 2020 and gold up 7.83% on the year. The price of Bitcoin is around $9,000, after last week's impressive 20% rally in a single day. All seems to be going well. However, there is one chart view that suggests that BTC may still be in a downtrend. Following the price recovery trend, the whales are actively accumulating Bitcoin. According to Glassnode, from the beginning of March 2020, the number of the largest bitcoin addresses grew by 11% and reached 111, the highest since the beginning of August 2019.
📌 Ripple has published a financial report for the first quarter of this year. During this period, the company sold XRP for $1.75 million. In the last quarter of 2019, this figure reached $13.08 million. The drop in sales was a record 87%, and this is the worst Ripple record ever. The decline is due to a sharp decrease in direct institutional sales, as well as a prolonged pause in sales to cryptocurrency exchanges.
📌 Owing to the drastic economic effect of coronavirus in Italy and also a way to survive these hard times, a small Italy town, Castellino del Biferno, with 550 residents, began minting their local currency dubbed “Ducati”.
📌 Global Digital Assets (GDA), the first merchant bank in North America to focus on blockchain and digital assets, announced that it will be joining the DigitalBits ecosystem to further enterprise adoption for branded cryptocurrencies.
📌 The ever-entertaining John McAfee is 99% certain he knows who Satoshi Nakamoto is. McAfee claims that linguistic analysis of the whitepaper is all that is needed to uncover Satoshi’s identity. But he won't name this person.
📌 In honor of its seventh birthday, CoinMarketCap organized the so-called roast challenge, inviting the participants of the crypto community to sincerely hook on the popular analytical service in the comments under the Twitter post. Happy Birthday, CMC! And yes, the comments are so good they deserve your attention.
submitted by CoinjoyAssistant to ethtrader [link] [comments]

CRYPTO WEEKLY NEWS — May, 8

What important crypto events happened last week?
📌 Well, it's all about the upcoming Bitcoin halving right now. The experts say that BTC is now the most profitable investment by far, rising 21% from $7,203 at the start of 2020 with equities suffering big losses in 2020 and gold up 7.83% on the year. The price of Bitcoin is around $9,000, after last week's impressive 20% rally in a single day. All seems to be going well. However, there is one chart view that suggests that BTC may still be in a downtrend. Following the price recovery trend, the whales are actively accumulating Bitcoin. According to Glassnode, from the beginning of March 2020, the number of the largest bitcoin addresses grew by 11% and reached 111, the highest since the beginning of August 2019.
📌 Ripple has published a financial report for the first quarter of this year. During this period, the company sold XRP for $1.75 million. In the last quarter of 2019, this figure reached $13.08 million. The drop in sales was a record 87%, and this is the worst Ripple record ever. The decline is due to a sharp decrease in direct institutional sales, as well as a prolonged pause in sales to cryptocurrency exchanges.
📌 Block number 10,000,000 was mined on Ethereum on the 4th of May 2020 setting the number of blocks mined on the second-largest blockchain over 15 times more than Bitcoin despite being 5 years younger. Congrats! Meanwhile, Vitalik Buterin spoke about the expected reduction in the annual Ethereum issue from the current 4.7 million coins to 100 thousand-2 million after switching to the Proof-of-Stake consensus algorithm. The rejection of Proof-of-Work in favor of Proof-of-Stake is due to the desire to reduce inflation in the blockchain. Speaking about Ethereum, ConsenSys, the leading Ethereum dApp development studio is adjusting to the conditions of the devastating crisis of COVID-19 and will present Ethereal Summit completely virtually on May 7-8. Such an event takes place virtually for the very first time. And from May 29 to June 16, the Planet Wide SOS online hackathon will take place. The participants will share business ideas to overcome the global crisis. The best of them will receive financing for implementation. The event will be opened by Ethereum founder Vitalik Buterin and Singularity.Net CEO Ben Herzel.
📌 Owing to the drastic economic effect of coronavirus in Italy and also a way to survive these hard times, a small Italy town, Castellino del Biferno, with 550 residents, began minting their local currency dubbed “Ducati”.
📌 Global Digital Assets (GDA), the first merchant bank in North America to focus on blockchain and digital assets, announced that it will be joining the DigitalBits ecosystem to further enterprise adoption for branded cryptocurrencies.
📌 The ever-entertaining John McAfee is 99% certain he knows who Satoshi Nakamoto is. McAfee claims that linguistic analysis of the whitepaper is all that is needed to uncover Satoshi’s identity. But he won't name this person.
📌 In honor of its seventh birthday, CoinMarketCap organized the so-called roast challenge, inviting the participants of the crypto community to sincerely hook on the popular analytical service in the comments under the Twitter post. Happy Birthday, CMC! And yes, the comments are so good they deserve your attention.
submitted by CoinjoyAssistant to BlockchainStartups [link] [comments]

Harmony One [Part 2]

Harmony Protocol
This is a continuation of the thread here https://www.reddit.com/CryptoMoonShots/comments/ezpn0j/harmony_one/. As some of you have requested for more information on Harmony. Here you go:
What is Harmony?
Harmony is a sharded blockchain, similar to Ethereum 2.0, but with several differences e.g. randomness algorithm, consensus mechanism and etc. Currently, Harmony mainnet contains 4 shards and a total of 1,000 validator nodes. Out of the 1,000 nodes, 680 of them are operated by Harmony team and 320 of them are operated by external validators including our foundational node runners.
The 4 shards are indexed with 0, 1, 2, 3 respectively and shard 0 is the beacon chain. Right now, the nodes in shard 1, 2, and 3 are synchronizing and maintaining an updated copy of shard 0 (beacon chain) in preparation for the upcoming features such as cross-link verification and staking.
Reference: https://nodes.harmony.one/harmony-overview/mainnet
Why sharding is key?
To solve the scalability problem without sacrificing security and decentralisation.
“Given Ethereum and Bitcoin’s performance limitations, many blockchain projects proposed various solutions that attempt to increase transaction throughput. Various blockchains proposed to replace Proof-of-Work (PoW) consensus with Proof-of-Stake (PoS) consensus. Other blockchains like EOS use Delegated Proof of Stake (DPoS), where block proposers are elected by voting rather than by an on-chain algorithmic process. Projects like IOTA replaced the chain-of-blocks data structure with a DAG (Directed Acyclic Graph) data structure, which breaks the limitation of sequential processing of transactions.
However, these proposed solutions cannot make significant performance gains without sacrificing other critical aspects, such as security and decentralization. The scalability solution that both preserves security and decentralization is sharding, which creates multiple groups (i.e. shards) of validators and lets them process transactions concurrently. As a result, the total transaction throughput increases linearly as the number of shards grows”
Reference: https://harmony.one/whitepaper.pdf
Current status?
Mainnet with 4 shards launched in June 2019
Mainnet token swap with exchanges ongoing
Open staking on testnet
Reference: https://medium.com/harmony-one/harmony-milestones-2020-1-highlights-and-lowlights-36dea37a271b
Competitors?
Ethereum
Eth 2.0 Phase 0: Launch of Beacon chain for POS with no smart contract functionalities (expected 30 July 2020)
Eth 2.0 Phase 1: Launch of shard chains with verifiable delay functions (unknown timeline)
Eth 2.0 Phase 2: eWASM new Ethereum virtual machine for sharded blockchain (unknown timeline)
Eth 2.0 Phase 3: Continued improvement e.g. cross-shard transactions, light-weight clients, super-square charting and closer ties (unknown timeline)
Optimistically speaking, you can probably get the official launch of phase 1 by mid/end of Year 2021.
Reference: https://www.bitcoinsuisse.com/outlook/ethereum-and-its-transition-to-ethereum-2/
Reference: https://medium.com/swlh/a-comprehensive-view-of-ethereum-2-0-serenity-5865ad8b7c62
Reference: https://docs.ethhub.io/otheethereum-2.0-ama/
Other competitors like Elrond and Multivac still do not have their full mainnet launch with their own blockchain tokens.
Conclusion
Sharded blockchain is complex and no project has managed to implement network, transaction and state sharding. Harmony will be the first working sharded blockchain to do so as compared to the unknown timeline for Eth 2.0 Phase 1.
Harmony is a team of infrastructure engineers in Silicon Valley, now with 4 PhD’s, 8 ex-Google/Amazon/Apple/Facebook, 2 Harvard MBAs, and Stanford/Berkeley AI graduates (reference: https://medium.com/harmony-one/welcome-9-new-harmonauts-to-team-24d71ee8d79b). I believe they have the experience, brains and technical competency to roll out the sharded blockhain.
As mentioned by one community member, “The advanced test beds leading the way before the established chains, this will attract more developers, interest and investment.”
With its first-mover advantage, I am excited to see how this platform will influence the adoption of blockchain technology by other companies.
Disclaimer: I am still holding my stack at 60 sat. I did not take participate in the IEO. Recently bought a small amount at 60 sat. Never invest money that you cannot afford to lose. 😊
submitted by cryptonews123 to CryptoMoonShots [link] [comments]

Bitcoin Will Follow Ethereum And Move to Proof-of-Stake, Says Bitcoin Suisse Founder (current BTC/USD price is $6,884.27)

Latest Bitcoin News:
Bitcoin Will Follow Ethereum And Move to Proof-of-Stake, Says Bitcoin Suisse Founder
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools. Follow us on Twitter @CoinSalad.
submitted by coinsaladcom to CoinSalad [link] [comments]

Hello, worlds goes for global quarantine, but blockhain unstoppable! MLGC team wish you be healthy and join our chat!

Hello, worlds goes for global quarantine, but blockhain unstoppable! MLGC team wish you be healthy and join our chat!
❌Death Cross on BTC, Dow Jones, S & P500
Both Bitcoin and the US stock markets are included in the "death cross" - a widely tracked indicator of a bearish chart - amid losses over the past five weeks.

🏦Venture investments replace ICO
CB Insights writes that equity financing has far surpassed the initial offer of coins (ICOs) as the dominant means of financing in the blockchain space.

📉Staking as a means of decentralization of mining
You can perceive staking as obtaining interest on a cryptocurrency deposit, but the largest crypto projects look at proof-of-stake as a way to decentralize mining.

🦁MLGC team dev report. We are
on the final stage of application development, very soon you will open possibility to lend and borrow funds with our Token immediately from your phone.

#gofurther
Mlgc.io

https://coinmarketcap.com/currencies/marshal-lion-group-coin/


https://preview.redd.it/rowf2nzjwlo41.jpg?width=1024&format=pjpg&auto=webp&s=6d002749b5539bbfcb655d4ee3a43d3282000768
submitted by MarshalLionGroup to u/MarshalLionGroup [link] [comments]

/r/ethtrader quickstart guide - Acronyms, Jargon, and Personalities.

Hi there new ETH investor and/or new /ethtrader community member! Glad to have you aboard. We are a pretty lively bunch around here; inside jokes, memes, and jargon run rampant.

I figured I would create a sort of glossary to help you figure out what the actual fuck we are talking about.

Acronyms (thanks decronym)

BGD: Big green dildo, as in a big green candlestick on the price chart.

BTFD: Buy the fucking dip.

ATH: All time high, the highest price of a thing ever, 1400ish for ETH.

FOMO: Fear Of Missing Out, the urge to jump on the bandwagon when prices rise.

DeFi: Decentralized Finance, MakerDAO and Dharma and stuff. Loans basically.

CDP: Collateralized debt position. A DeFi thing.

FUD: FeaUncertainty/Doubt, negative sentiments spread in order to drive down prices.

MEW: My Ether Wallet, a website to make and interact with wallets.

TA: Technical analysis, predicting the future of the price based on the past.

2FA: 2 factor authentication, its a security thing, a second password of sorts.

ERC20: The standard for tokens built on ETH.

POS: Not piece of shit, or point of sale. Proof of stake, the new consensus mechanism coming to ETH soon™.

ICO: Initial coin offering, the birth of a new crypto, usually an ERC20. Like an IPO.

IEO: Initial exchange offering, like an ICO, but typically a bit more scammy.

EZPZ: e_z_p_z_, more on him later...

BAT: Not the animal, Basic Attention Token

OMG: Not oh my god, well sometimes oh my god, but mostly OmiseGo. Pronounced OH-ME-SAY GO btw.

MKR: MakerDAO.

REP: There is too many tokens to list here, just google it you will figure it out.

DYOR: Do your own research. People want to steal your money. Make sure you know what you are buying.

LN: A silly bitcoin thing.

GDAX: The old name for Coinbase Pro.



Jargon

Bull: Confident the price will go up.

Confidant: misspelling of confident from e_z_p_z_. More on him later...

Bear: Confident the price will go down.

Cuecomber: Cucumber, another EZPZ classic. Can be used as in cool as a cucumber, or as in BGD (see? now you know what BGD means, damn this guide is helpful.)

The ratio: The trading pair ETH:BTC.

The flippening: The ETH marketcap being bigger than the BTC marketcap. Coming soon™ .

Soon™: The release date for everything crypto related.

Donuts: Like reddit karma but /ethtrader specific, and infinitely more valuable. Legend has it that if you get 10 million donuts Vitalik sends you 10 ETH for every 1 ETH you send him. The name comes from cyounessi's post here.

Moon: The price where you can buy a lambo.

Mooning: The price increasing rapidly. Maybe exposed butts depending on how you choose to spend your money.

Moonboy: A hopelessly optimistic/greedy person.

$13: The price was stuck here for a long time. Dark days for /ethtrader.

$420: The top of the bull market before last. Also weed dude hehehe.

$300: The price was stuck here for what seemed like forever. Oh how easy we had it back then...

$324: EZPZ's number. More on him later...

$80: The bottom of the previous bear market. We will definitely never see this price again.

HODL: Hold. From here.

SODL: Sold, same as above.

BUIDL: Build, you get the pattern.

Golden cross: Moving averages of prices crossing. A TA thing.

FIAT: Not the car. Fiat Money. USD, euros, pounds and so on.

Sharding: An ETH scaling method. Don't make sharting jokes, they anger Vitalik.

Ramen: The meal of choice when the price goes down.

Pamp: Pump

Bogdanoff: This. Just... Don't ask...

Weeks not months: In reference to Joe Lubin's prediction for ETH futures coming out. It has been 75 weeks since he said this.

The Winklevii: Founders of Gemini Exchange, the facebook guys.

Updoot the diddly: Or anything with that vague collection of letters, Upvote the daily discussion.

JT's fire pit: jtnichol posts pictures of food he is cooking in his backyard fire pit. Those posts make you hungry.

The DAO: Tumultuous times in ethereum history to say the least.Further reading here.)

Personalities

vbuterin: The founder of Ethereum. We really really like him.

Joe Lubin: Co-founder of Ethereum, founder of ConsenSys. Memes aside. We like him.

carlslarson: Creator of /ethtrader. Overall good guy.

jtnichol: A mod of /ethtrader. Overall sweetheart.

The rest of the mods: Too many to list. It's a great group of people. They won't give you any trouble if you aren't being a dick.

dcinvestor: DC is a smart guy with good opinions. We really like him.

E_Z_P_Z_ the undisputed meme champion. A genuine crazy person. Made a bad sell on the way up, and wrote lengthy posts about how ETH was going back to $324 multiple times a day for months, often times with terrible spelling and grammar. When ETH did hit 324 he became something like a local hero. He is the heel of /ethtrader and we all love to hate him.

lamboshinakaghini: A fool, not to be trusted.

scienceguy9489: He used to regularly post TA. Sometimes he was right, sometimes he was wrong. The crucial thing was that he was memeable. He started to get a bit of an ego going, and was deleting his posts that were wrong, and keeping the correct ones. He recently made a return to /ethtrader and made a post that ETH was going to moon on a certain day and it ended up not being correct, which was just fuel on the meme fire. He goes by etherdamus now and runs a private TA group which has a fee to join.

singlestateserenity: He posts a haiku in the daily every day until we flippen bitcoin. Reading a nice haiku is a pleasant way to start your morning.

Everyone else: Well you will see them around and catch the vibe. There are just too many lovable and hateable people to list.
submitted by LamboshiNakaghini to ethtrader [link] [comments]

3 years of milestones for Tao culminating with FanMix.com launching today

I'm writing this to present the case for Tao as the real deal. It's been mentioned on this sub before, but today is the big day and I want to lay out a cohesive explanation of why I've been happy to own Tao and why it's one of the best shots out there for real Moon(™) status.
Tao launched in 2016 to serve the music industry. The developer recognized that the way most people are approaching the idea of bringing crypto to serve musicians was all wrong, as he explains in this short video (all Twitter videos I’ll be linking to are about 2 minutes each)
https://twitter.com/taoblockchain/status/1176242929838350337
When he first developed Tao he looked at all of the different forks of Bitcoin out there and picked all of what he saw as the best features, added a couple of his own, and gave it a generous block size limit, and made it Turing complete like Ethereum — creating what he likes to call the Swiss army knife of crypto:
https://twitter.com/taoblockchain/status/1176625734162345984

One of the first people officially involved with the project was Peter Rafelson
Here is a quick video explaining who he is
https://twitter.com/taoblockchain/status/1174119584804175873
and here is the Billboard official podcast interviewing him which is mentioned in the above video
https://www.billboard.com/articles/columns/podcasts/8517903/madonna-peter-rafelson-interview-open-your-heart-chart-beat-podcast
(interview starts at around 30 minutes in)
Between the two links you will see Peter is very well connected in Hollywood and the music industry. He also owns a multi-million dollar recording studio in Hollywood.
These connections are important because what the Tao project(s) are doing is designed to work for artists and the music industry, not to “disrupt it” from the outside or approach it as a Silicon Valley style project, which makes it more attractive to people in the existing industry.

The developer and his team have lobbied and met with members of Congress and the SEC, as told in this video:
https://twitter.com/taoblockchain/status/1174795731141480453
Everything they are doing and have been doing since 2016 is fully regulatory compliant to such a degree that the currently underserved 13 years old and over market of teen music fans will be able to use their platform.
The entire idea is to make it easier for indie artists to monetize their fanbase and let the fans connect with the bands they love. This required an exchange, the AltMarket which launched several months ago and the final piece of what they’ve been building, FanMix, which is launching with their first band sometime in the next 24 hours.

What is FanMix?
FanMix lets fans earn crypto - which they just think of as rewards points, without needing to know or care anything about cryptocurrency. They can refer other fans and earn rewards and the bands themselves can earn more revenue by using referral links to get their fans onboard OR extra passive revenue by getting other bands to sign.
These two short videos explain a little more about it:
https://twitter.com/taoblockchain/status/1173707710530871296
https://twitter.com/taoblockchain/status/1173726808329486336
Each band gets to raise funds and their fans are rewarded with Tao AND they get branded artist tokens which they can later trade (exclusively traded against Tao).
The AltMarket and the Tao team have already launched official Wu-Tang Clan coin ODBcoin as a beta test of the “Initial Artist Offering” or IAO process - the artist tokens - and in the process they helped launch Ol Dirty Bastard’s son Young Dirty, including appearing with Wu-Tang on NPR’s Tiny Desk concerts
https://giphy.com/gifs/npr-wu-tang-tiny-desk-gEx9kqPkamf7DlkPsL
https://www.npr.org/2018/12/04/673291531/wu-tang-clan-tiny-desk-concert
FanMix.com is designed to be the single place a band can go to sell their albums (digital but also physical, signed, etc.) and other merchandise as well as exclusive fan rewards for their biggest supporters.
They are introducing their first band sometime in the next 24 hours. With the first band and with every one that follows, Tao will be bought automatically off of the AltMarket for every dollar spent by fans on their artist.
Buy the album, Tao is bought off the market and held for staking to generate the rewards funds for the fans. The more fan money spent, the more Tao is bought off the market and kept off the market to stake. That’s automated buy pressure driven by music fans, the first crypto whose price will be driven by pure use case regardless of traders or speculators. True adoption.
https://twitter.com/taoblockchain/status/1150167087182012416
In fact, since Tao is an essential asset for the AltMarket/FanMix (AM/FM, get it?) business model, they have an incentive to buy a lot of it off the market before the price is driven up and up by the fans. FanMix is selling equity in the company with an overseas SRO raising $10,000,000 - they have a verbal agreement and are just waiting for the contracts to arrive.
What the CEO of AltMarket & FanMix has promised is that after they close on the $10 Million raise, they will spend $1,000,000 - one million dollars in a single gigantic buy order for Tao at $1 or whatever the current market price is, whichever is higher. Even if the price has gotten over a dollar per coin before this happens, it’s in their interests to buy as much as possible.
https://twitter.com/taoblockchain/status/1183270025085407232
The market cap of Tao is only about $2.9 million as I type this, recent trades were 8.7 cents per coin. So if they buy $1 million worth at $1 that’s a nice ~11.5x return, but once this is in full swing next year with a growing number of artists and fans, not to mention when Infiniti Festival happens next summer, this could be one of the be one of the biggest moon shots since those lucky people bought BTC when it was just a few cents.
It’s late here so I’m going to post this but will check back in several hours and will be happy to answer any questions I can.
A few additional links:
fanmix.com
Tao trades on
https://qtrade.io/market/TAO_BTC
and its official home at
https://exchange.alt.market/
Join us on Slack: https://taonetwork.typeform.com/to/hnuAj0
or Telegram:
https://t.me/TaoCryptocurrency
Kasey Win developer interview part 1
https://twitter.com/taoblockchain/status/1174469837000589312
Kasey Win developer interview part 2
https://twitter.com/taoblockchain/status/1174766521890951168
ODBcoin - bringing fans and artists together - interview with Young Dirty about ODBcoin and “Proof Of Fan”
http://www.youtube.com/watch?v=q04mKxybgtg
Naomi Brockwell and Taylor Swift coin
first link is short edit that boils it down to basically an elevator pitch for artist branded coins (Taylor Swift is not making a coin to my knowledge, it was just Naomi’s example since she’s a Swift fan)
http://acgimg.s3.amazonaws.com/Naomi%20Brockwell%20Taylor%20Swift%20coin%20twitter%20ediit.mp4
https://www.youtube.com/watch?v=Q9\_9UkerJ-M
submitted by ACG-Crypto to CryptoMoonShots [link] [comments]

So you want in on bitcoin?

Guide for Noobs

Simple and Not A Lot of Money

Guide for Not Noobs

Less Simple

-setup an account on coinbase.com, move dollars into your account, setup an account on gdax.com (same company, same login), move your cash from coinbase to gdax, buy your coins on GDAX at Market, fees are cheaper 0.25% versus 1.5%
-consider buying alternative coins supported by coinbase

No Fees

-all of the above but use GDAX's Limit/Buy, zero fees, but you have to wait for the market to dip below your buy price

More Money Available

-setup several Limit/Buy orders at different price points to capture dips when you are away

More Control but More Complex

-it's possible coinbase could go out of business, move some or most of your coins to a personal hardware wallet like a Trezor or Ledger Nano S, made in Czech Republic and France respectively
-consider using other exchanges with different fees and coin support
-consider buying other alternative coins supported by other exchanges

You Are Very Responsible

-create a paper wallet, put it in a safe, be warned it's like a visual bearer instrument, if you lose it or someone takes a picture of it...it's gone, but you have complete control over your money/asset

DO NOT EVER

-buy more than you can lose, it's early wild west days, the market could easily come crashing down
-panic sell, the market fluctuates regularly by 20%, thus far it has ALWAYS recovered, people that try to sell during a fall/dip and buy at the bottom usually miss time it and lose
-store your keys on your computer or phone unless its small amount, these are the two most vulnerable routes to hacking and simple hardware failure resulting in loss
-attempt to daytrade and time the best prices unless your real life job is day trading
-get addicted to watching the market, pay attention watch for dips, but don't let it crowd out your work or free time
-keep a LOT of cash or coin in an exchange, it is very easy to mistype and buy or sell far more than you meant to, exchanges can disappear with your coins
-buy a hardware wallet from anyone other than the company who makes it, i.e. do not buy one on Amazon, it is possible some third person hacked it and could steal your coin

PROBABLY DON'T

-limit sells until the far future when market volatility is down, flash crashes have happened and recovered, if you had all your coin in limit sells it would be gone
-margin trade unless your real life job is day trading
-stop buys or stop sells unless your real life job is day trading

DO

-hold your coins, your coin may be worth x10 or more in value in the future, e.g. if bitcoin replaced gold, bitcoin would be worth ~x70 the current value
-buy small amounts over time DCA, this might not seem intuitive but it spreads your risk out, reduces risk of buying at all time highs (ATH) and more likely to catch lows (dips), a fluctuation of $100 in price is small if the eventual value is worth x10 or more in the future
-keep a small amount of cash on an exchange always, when there is a lot of traffic/trading which happens during dips, you are much more likely to be able to make trades on an exchange rather than with your own wallet

REMEMBER

-if you don't have your coin in your own wallet, it's not your coin. this is not a problem until you have a lot of value and you want to keep it safe from a bankruptcy, unscrupulous people/exchanges, or unforeseen acts. if it's a small amount compared to your income it's an acceptable risk, if not then move it to a wallet
-in the days of fake news not everything you read is true, in fact there are armies of people shilling for 'pick a random coin'; some are malicious, some uninformed, and some willfully uninformed
-if your value starts to become large, dig deep into how your asset/currencies work just like you would for any other purchase, understanding how it works helps you understand if it will be a success, e.g. understand the difference between PoW vs PoS or what a hard fork is
-some coins especially newer ones are scams, a good indication of if it is not a scam is how long the coin has been around
-most bitcoin hard forks so far have not been successful with some exceptions
-btc is the accepted short-name for bitcoin on most (but not all) exchanges, xbt is also common in EUR-land

Other Risks

-holding your own coin requires personal responsibility, it is easy to lose and not be able to recover it if you are not careful
-again, do not buy more coin than you can lose
-transaction speeds which are slow are a serious problem in bitcoin scaling
-there is less innovation and more argument going on in bitcoin than some other coins, bitcoin is large enough that consensus is difficult, future change is less likely than with some other coins, there are other side solutions to bitcoins problems that may not require bitcoin to change much
-bitcoin.org IS the generally accepted bitcoin website, NOT bitcoin.com
-important other risks compiled by themetalfriend
-coinbase has insurance up to $250k USD for you USD Wallet which DOES NOT cover your bitcoins or other crypto currencies, they claim to have separate insurance for your crypto currency but it is unclear how much

Community

there are a lot of memes
-hodl, GameKyuubi mistyped hold and it spread
-to the moon, where everyone hopes the price will go
-coin on a rollercoaster, it is highly volitile market you will see this during fluctuations
-this is gentlemen, via Liquid_child , here
-lambo/roadster, a car people want to buy when they get rich
-the cost of pizza, early days someone bought a pizza for 10,000btc which is worth over ~80million USD today
-tesla/vehicle with a bitcoin chart, cytranic posted a picture that spread
-intersting guide by stos313 , here. I do not agree with everything but it has a lot of useful information.

CORRECTIONS

Edit: Adding in user comments.
Edit: Crosslinking to a more Beginner Version.
Edit: Note in an earlier edit of this guide I said.
note that most of the development on bitcoin is by employees of one company, it is open source but their priorities may not align with the community
This is not true. Blockstream appears to have a high representation but not an overwhelming amount. You can compare blockstream's employee page and bitcoin's commits in the last year. Thank you to lclc_ , trilli0nn , and Holographiks for pointing this out. See this for a detailed break down.
Edit: Clarification that FDIC insurance does NOT cover crypto currency/assets.
Edit: Clarity on who owns bitcoin.org

Good Luck and Hodl.

Please comment if your experience is different. Or call out things I missed.
submitted by cryptocurrencypeople to Bitcoin [link] [comments]

Ethereum Corrects Down, While Experts Predict 4,300 Percent Gains

Ethereum Corrects Down, While Experts Predict 4,300 Percent Gains

Some Crypto Experts Even Predict Ethereum May Reach $10,000 In The Near Future
Ethereum, the second-largest cryptocurrency to date, sparked the flame of speculation, as Bitcoin’s runner-up managed to record a yearly high of $230.58. This price point is the highest since August 2019, when the crypto sector saw a massive downward push. As of press time, Ethereum corrected its price, losing 2,4% of its momentum.
Crypto traders are observing Ethereum’s price movements, as the ERC-20 token might become one of the largest gainers in the following few years. Switzerland-based crypto trader Bitcoin Macro made his forecasts about Ethereum’s bullish run on twitter, stating that Ethereum might go over $10,000. However, he noted that his outlook is not for 2020.
The primary cause for Bitcoin Macro’s price forecasts is the long-awaited Ethereum 2.0 update, which will remove mining and upgrade Ethereum to a “proof-of-stake” consensus algorithm. Proof-of-Stake means Ethereum holders may choose to put their savings into a “staking” account, receiving an interest rate for using their tokens on Ethereum’s blockchain. The massive upgrade still doesn’t have an exact timeframe, but the initial phase is scheduled for July 2020. The new protocol might be a turning point in Ethereum’s price movement, skyrocketing the #2 crypto.
Financial experts, however, are seeing signs of a deeper correction, as the short-term price per one ETH token dropped below the 50-day SMA at $225. Ethereum’s price swing settled around the $223 mark. Trading experts are cautious about giving strong predictions because Ethereum’s price suggests a period of consolidation. Bears might try to overcome the $221 support zone, and if so – Ethereum could fall down below the $210 mark.
For a positive correction, crypto experts suggest a massive move above $230, which will mitigate factors such as the 23,6 Fibonacci retracement line, as well as the 4-hour Bollinger bands chart. Looking at the 7-day charts, Ethereum made a 25% price increase – from $185.40 on February 4th, to a high of $229,86 on February 10th. The monthly chart is even more impressive, with Ethereum gaining 61 percent from January 10th.
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]

Coin Review: Crypto Proof of Whaa!? proof of stake coins What is STAKING a Cryptocoin? Bitcoin The Problems with Modern Proof of Stake Blockchains (Understanding Wavelet)

Proof of Stake (PoS) Proof of Stake (PoS) is an alternative to the Proof of Work (PoW) system in which the amount of coins one holds (stake) determines their approval rate for mining new blocks.Proof of Stake addresses a few problems with the PoW system. 1. Transaction fees, long-term electricity costs, security improvement Proof of Stake ist ein Prozess zur Erzeugung von neuen Coins. Wie viele Coins für einen Monat in das Verfahren gegeben und geprüft werden entscheiden die Teilnehmer. Anschließend werden nach dem Monat die Coins wieder freigegeben und per Zufall an neue Teilnehmer verteilt (belohnt). Auf diese Weise kann sichergestellt werden, dass kein Angriff von außen… Let’s talk about popular proof of stake cryptocurrencies today… And I know one more important question that might cross your … 11 Most Profitable Proof Of Stake (POS) Cryptocurrencies Read More »</a></p> Proof of Stake ist ein Prozess zur Erzeugung von neuen Coins. Wie viele Coins für einen Monat in das Verfahren gegeben und geprüft werden entscheiden die Teilnehmer. Anschließend werden nach dem Monat die Coins wieder freigegeben und per Zufall an neue Teilnehmer verteilt (belohnt). Auf diese Weise kann sichergestellt werden, dass kein Angriff von außen stattgefunden hat. Get the latest Proof of Stake Coin price, live POS price chart, historical data, market cap, news, and other vital information to help you with Proof of Stake Coin trading and investing.

[index] [31011] [14477] [1023] [24754] [5959] [47299] [13247] [7213] [34152] [37948]

Coin Review: Crypto Proof of Whaa!?

This video is unavailable. Watch Queue Queue. Watch Queue Queue All in 1 place, free btc faucet, giveaways, charts, videos, developer assistance, also airdrops giveaways and more inside the cryptocoins & pos updates channels inside ycdhub.info 👈 discord #BlockchainBTM #30secondblockchain is a series of short clips from Co-founder Victoria and the rest of the BlockchainBTM team. What is Proof of Stake? Proof ... Bitcoin "Will Overthrow Fiat", Cardano Proof Of Stake Update & China "Sanitizes" Bitcoin The Modern Investor. Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe. Working ... Proof of stake experiement $3500 14 coins which is most profitable Episode 2 - Duration: 3 ... THIS BITCOIN CHART IS MOONING and nobody is talking about it!!! - Duration: 10:49. sunny decree ...

#