Permacredits Episode 1: Conner's Life ... - Let's Talk Bitcoin

*New Story* Do autonomous trucks dream of CW McCall?

I've got some serial stories I'd like to tell about living with (and in) technology and the industry.
Do autonomous trucks dream of CW McCall?
Falstaff’s story
“For a bright shining moment, we added a lot of shareholder value”. Falstaff had a comic with that caption in his double sized cubicle, the kind reserved for senior engineers. For a while he thought it showed that he didn’t fully buy into the corporate line, but that he’d still do as he was told as long as he had a shot at the big payout. RSUs, the big acquisition. The end of year bonus. That was the deal in the before time, when things mostly worked out for most people it seemed.
Falstaff knew he wasn’t the smartest, but he didn’t complain, didn’t pick fights and lived pretty well. His bad habits didn’t impact his work life and he still might hit it big enough to quit and try something else. To have options.
Then everything happened at once. The fires. The diseases. The chaos. Nobody knew who was in charge for a year or so. Things came back. A few years passed and the wealthy parts of the coastal cities looked shiny again. Most people called it normal. To the casual eye, it was. You could still get sushi delivered to the office late at night, ski in the Rockies if you could take the time off. Things were pretty good if you stayed where you belonged and kept your metrics up. Things fell off as you went East or to the not-so-quaint rural areas that couldn’t swing a music festival or good photo opportunities for social media. Go far enough and you found the places where the Feds just walked away. Not our problem any more.
That’s how Falstaff saw the world and his place in it. He had’nt had much sleep. Drugs, risky behavior and the self-loathing kept him occupied, making his morning commute that much less pleasant. He stopped staring at the RVs and tents parked on the land next to the on-ramp as he got on the 101. He jabbed the infotainment system to find some noise to sooth or at least distract him.
“Today, the Department of Energy announced that repairs have been completed ahead of schedule for the Diablo Canyon Power Plant. Radiation levels are now below acceptable levels for the first time in three years”
Click.
“We’ve got an autonomous truck accident with a car by Exit 6 on the 280 Eastbound, so expect delays while CHP and a support team from Freightliner gets that cleaned up”
Click.
It didn’t work. He still felt adrift and unhappy in the morning commute, so he silenced the radio and drove to the office.
The office was uneventful. Park, security checkpoint, a long walk to his building, a coffee on the way to his cubicle. He pulled the privacy screen closed behind him and sat down. A quick scan of his eyes and there was his project- a payment processing application that would cut out another payment application for a small percentage of a massive stream of money.
He looked over last night’s chatter, split the tasks into ‘do the work’ and ‘show that I’m adding value’ categories.
The fear and sadness caught up with him. He wasn’t ever going to get out. If he ran as fast as he could, he’d stay exactly where he was until his rent outpaced his income. His stock options would vest just fast enough to keep him going, but he’d never get out.
The morning dragged. Tweak this, report this to someone else. The bureaucratic minutiae and make-work washed over him until lunch. He looked forward to lunch with Tran, hoping that might get him out of his funk. Tran wasn’t so much a friend as one of the few people who admitted how screwed up everything was, so there wasn’t any danger of speaking the obvious and getting a negative reputation.
Tran was out today, so Falstaff ate leftovers and instant noodles in his cubicle.
His phone buzzed. There was a message on MomTalk, a chat for wealthy mothers to discuss brunch, day drinking and their children.
An engineer friend of Falstaff’s set it up as a joke to lampoon the women she couldn’t stand and her friends played along, adopting over the top personae and complaining about nonexistent spouses and domestic staff. After things came back, it was a way to talk freely, if in code.
Heather: Hey. I’m in deep trouble. The Nanny’s unhappy and I need someone to pick up the kids.
Falstaff sighed. Tran must need something.
Sheila: Missed you for lunch. Not feeling well?
Heather: Serious. My kid is stuck under my desk and I need him to come home. UNDERSTAND? NOW!
Sheila:kk.
He got up, took his brown cardboard biodegradable instant noodle container and walked a few rows over to Tran’s cubicle. Where Falstaff’s cube was disorganized and well worn, Tran’s was sparse with better furniture. Falstaff felt under the desk and noticed a decal with one end loose. A quick pull and the label peeled off into his hand, along with a small flash memory card, the size of a fingernail.
He stood up and quickly looked up and down the aisle between the cubicles. Nobody noticed. Nobody really paid much attention to him on a good day unless they needed something from him anyway.
Back in his own cubicle, he went back to the chat:
Sheila: How urgent is this? Chip can have dinner with us or we can drop him off on the way to fencing class.
Heather:NO TIME. FAMILY’S HERE AND THINGS ARE TENSE.
Heather:RUN. GET OUT NOW.
Heather:REALLY.
Falstaff was concerned. Tran didn’t make jokes. Laughing at Falstaff’s attempts at humor was enough. He had figured that Tran’s talk of ‘having gangsters in his family’ was an attempt to seem dangerous despite being a cubicle denizen, the way middle aged men bought loud motorcycles that they never rode.
He folded the decal over the card, pressed the sides together and dropped it in the instant noodle cup, then pushed it down with the corn-plastic chopsticks.
The background chatter got quiet and multiple employees raised their heads prairie-dog like. Several members of the company security detail were looking through Tran’s cubicle. Geoff, the brush-cut ex-cop security guard for this building was standing in the aisle attempting to look like he mattered to the operation as the more polished and definitely better paid detail carefully boxed the contents of Tran’s cubicle.
Falstaff picked up his phone and noodle container and started walking towards an exit away from the commotion. Geoff noticed and walked briskly after him. As Falstaff walked out of the building, Geoff called out his real name, then jogged behind him, puffing his half a size too small corporate logo’d golf shirt.
Ironed golf shirt.
Falstaff heard Geoff behind him, but decided to ignore him. Geoff was a blue-badged contractor, safely ignored. Normally.
Geoff ran in front of him and blocked his path to the parking garage.
“You wouldn’t happen to know where Tran is, would you? I’ve seen you with him ”
Falstaff tapped on his white badge. “You’re not my real dad. You can’t tell me what to do”
Falstaff squeezed past him into the parking garage’s doorway.
Geoff glared at him while Falstaff got in his car and put the noodle carton in the fancy retracting cupholder. He started his car and drove off as calmly as he could manage. Despite his attempt at seeming indifferent, his mind was racing. He attempted to make good time without getting attention. Luckily, silver Porsches were a cliché and therefore almost invisible in the Valley.
Twenty minutes later, he was in his mid-grade two bedroom apartment overlooking the parking lot. His cat, Hank, greeted him with a raised head and half open eyes.
Falstaff gave the cat some perfunctory petting, while trying to sequence the next few tasks.
He went to the refrigerator in the kitchen, carrying the ramen cup in one hand. He selected a can of energy drink and thought for a second.
His smartwatch and phone went in the freezer. Fishing the wrapped memory card out of the cup, he picked up the can and walked to his couch, where a bestickered high end laptop rested. Debating between speed and security, he turned off networking on his laptop, then inserted the card into the laptop gingerly, mounting it read-only in case Tran left something aggressive on the card.
Huh. A couple really large encrypted files. And seven smaller files with long filenames of seemingly random numbers and letters. He ejected the card and gingerly placed it on the arm of the couch.
The file names were bitcoin addressses. A lookup showed a total value of almost $600 million in value there.
The files themselves were encrypted. Falstaff stared at the wall for a minute or two, then realized that Tran had decided to quit and take an unauthorized retirement bonus from their shared employer. Enough money to kill for.
Who knew about this, and more importantly, who knew Falstaff had the key? Tran did. Perhaps his gangster friends knew.
He pulled his phone out of the freezer. A few project related emails and three MomTalk direct messages.
Heather:???
Heather:Where y’at?
Heather:I have investors. They’re quite insistent. They’re on their way to you.
It was time to go. Now.
Falstaff put the laptop down and ran to his bedroom. He pawed through a closet and pulled out the giant duffel he used to carry two week’s laundry from his grad student apartment to the cheaper off-campus laundromat. He quickly shoved a variety of clothes, some scuffed hiking boots and some corporate branded technical outdoors gear into it.
Behind a shelf, he found a long, antiquated Russian bolt-action rifle and a few paper-wrapped boxes of bullets. It wasn’t the firearm someone on the run would want, but it’s what he had. It went into the duffle bag, which he dragged into the living room. Hank jumped down and inspected the bag.
“Hank, I’ll hook you up in a second”
A quick scour of the kitchen and Falstaff had two thick trashbags and a box of water jugs with his current employer’s old logo on them, which he emptied into the sink and turned on the faucet.
As the sink filled, he filled the trashbags with whatever looked useful- tools, hobby electronics, his laptop and cat food. He pulled out a fat stack of cash from the bottom of his drug stash box. He contemplated forced sobriety, then carefully closed the box and put it in the bag, along with the cash.
Don’t change everything at once, he thought. Now isn’t the time to risk sobriety.
Falstaff rummaged around in the hall closet and dug out a bright pink cat carrier and stuffed Hank into it, then turned to the overflowing sink in his kitchen. He opened and filled the bottles in what he hoped was an efficient use of time, then pushed them back into the box.
His phone buzzed again. He contemplated throwing it back in the freezer, then thought better of it, shoving it and the watch back in his pocket.
Hank started meowing.
“We’re not going to the vet today, dude. Shut it for now”
Falstaff looked out his window. Typical traffic. Typical parking lot. A few charging stations, a fence and tents on the other side. He opened the window and threw the bags into the bushes below. He picked up Hank’s carrier, his laptop and looked at the box of water bottles.
Wait. Stop. Think. Breathe.
Tran’s card. A minute of searching found where he left it on the couch. He stuck that in his pocket, then ran out of his apartment. He considered the elevator, then decided on the stairs as they were closer to the bags and his car.
A few minutes of pushing and shoving had the trash bags in the front trunk , the oversized duffle in the passenger seat and Hank’s carrier seat belted in the tiny back seat. He spun the tires and entered the flow of traffic, such as it was.
He looked at his phone. More people seemed to want a response. Ignoring them, he found the closest florist’s shop and fifteen minutes later, pulled into the strip mall that contained it.
A few minutes later, he was in possession of three “Birthday Balloon Extravaganzas”, finishing off the shop’s tank of helium and a bit of Falstaff’s cash. He tied the strings around his smartwatch and let it rise and drift past the confines of the parking lot. The hastily constructed wad of tape and ribbon connecting his phone to the other two Extravaganzas generated a more labored flight, but eventually it drifted away. He looked into the shop’s camera and flipped it the bird as he left and jumped back in his car.
Soon he was back on the road, relaxing with his elbow out the window. Despite the stop and go traffic, he felt safe enough to relax and make longer range plans. Even Hank had settled down for the moment. The hot air felt less oppressive somehow. He contemplated the right set of music for an escape from civilization, trying on a few genres to decide. The screen also showed that the freeway was less than a quarter mile on the right and traffic would be light.
Good.
Then he looked again at the screen and thought about antennas. His radio talked to the cell tower, which talked to the Internet. Every application knew where he was.
Which meant Tran’s investors or their ex-employer could know as well.
One hand on the wheel, he looked around for something to pull the radio out of the dashboard. Hank meowed.
“You have an idea? No? Please be quiet”
Rummaging around in the glove box, he noticed an old folding knife. Falstaff slowly pried the radio from the dashboard while occasionally looking up at the tailgate of a modern SUV ahead of him. Realizing there was a rear-facing camera on the SUV staring at him, he slid down below the dash as best he could.
A few more stop and go cycles and the radio was free of the dash. He unplugged cables by feel, but one took his attention away from the road while he pried at it with his knife
He was distracted by a horn blast by his ear. Another SUV was forcing itself into his lane while the driver gesticulated at him.
Falstaff reciprocated by waving angrily at him, knife still in hand. The driver of the SUV held the horn down, angering Falstaff enough to open the window and throw the now free radio at the noise.
Feeling the embarrassment, he jerked the wheel to the right and accelerated into the bicycle lane with a chirp of tires and howl from the engine behind him.
A minute later, he was on the highway, quickly leaving Silicon Valley. He hoped to make the Nevada line before anyone figured out what he was doing.
submitted by lawtechie to talesoflawtechie [link] [comments]

Some informative responses from Colin and Andy from the just-concluded Nano AMA at the Atomic Wallet Telegram group

The AMA ran today from 13:00 - 14:20 UTC, with Colin and Andy. I've copied over some of their responses that I found give me better insight into Nano. Their responses are in italics. Responses to different questions are separated by double spaces. Colin's responses are listed first, followed by Andy's. Sorry I couldn't copy over the questions as well. I've added my comments in places.
From Colin:
PoW coins have done a good marketing that the energy expenditure makes your coins more secure but it’s really unnecessory. PoW coins need to continue expending work because if they stop, their security parameter erodes.
Nano has no such problem, once an election for a transaction is complete, it’s confirmed. If it sits there it stays confirmed and it doesn’t need any extra effort. Wow, put that way, Bitcoin seems unsustainable in the long term when there is an alternative like Nano.

Yes the circulating supply is forever like this. The reason it can’t change is because nano transactions can only send your current balance or less to someone else, this means new coins can never be injected in to the system. Interesting design reason new Nano can't be minted.

Volatility is a focus with all cryptocurrencies and it comes from low volume, it’s not intrinsic to cryptocurrency itself. To cure low volume our focus is integrating it in to parts of the economy where it solves a problem, rather than just emulating credit cards etc.
Not having fees in the network puts us in a very good position for buying beer, for example. Typically credit card providers will charge 2-5% for a purchase, maybe even more, and it tight margin businesses that make 2-5% profit anyway, this is huge. A lot of Reddit discussion on crypto adoption considers only user experience and overlooks benefits to merchants.

Nano is purpose built to be the fastest and most decentralized currency around. Our transactions settle in less than 1 second and it’s all done on a network with no fees, and a tiny environmental footprint
Decentralization is an essential focus for us, many other cryptocurrencies can get fast or low cost, but they can’t also maintain decentralization which I think we do very well.
Well the sustainability comes from 2 main parts. We have a laser sharp focus on being the most efficient currency. This means our development stays focused and eventually the amount of things going in to the code base will trend downward; once we’ve achieved the goal we just have to make things more efficient.
The second part of sustainability is our Open Representative Voting which is our replacement for PoW mining. We saw the energy expenditure as something that would come in conflict with any system that would attain high adoption so our goal was to get the same or better decentralization benefits and also have a low energy footprint. We think we achieved that goal as our representatives are all over the world under many different organizations. A healthy decentralized representative set is good for long term sustainability.

And on the simplicity, nano is probably one of the easiest cryptocurrencies to use. There are no fees to calculate, the UX impact of entering a fee is greatly understated. How much should the fee be? Does my grandma know what network load is? What does it mean with respect to fee?
Nano simply has accounts and balances, you send and it lands in their wallet in less than a second, nothing can be simpler.

We’re not looking to expand in to defi right now. I have some reservations about it’s viability. One thing I’ve noticed in my many years of seeing technology evolution is to not try and change 2 things at once. We don’t want to simultaneously change the currency people use and also change how finances are done. First change the currency, then change the finances.
I think Libra suffers from a market mis-assesment. Essentially what they’re claiming is be a multi-currency bank account for every facebook user. Getting users electronic bank accounts isn’t a technology problem, it’s a regulatory and logistics problem. Since Facebook is essentially being a bank for people, they’re going to be required to comply with KYC requirements. Sending/receiving isn’t going to be open as it is in cryptocurrency because of AML requirements. People are not going to have access to the system in remote areas because how do they deposit or more importantly withdraw local currency from their Libra accounts.
I think privacy is a big concern with our transactions and credit card purchases and it’s only getting worse. Letting Facebook/Libra know all your purchase history I think is a huge mistake.
I think it also doesn’t fundamentally solve the central banking problem where they can print more money and inflate the currency supply. I see this behavior as a fundamentally unethical thing that cryptocurrency solves and Libra is taking a huge step back on that.
I don’t see anything compelling about it and I don’t see long term viability.

I think disk usage is going to be a low concern long term. The goal with Nano is to be a widely used commercial grade currency so the representatives will be banks and other financial institutions, universities, and tech companies. Considering how much youtube, instagram, and other social media data is created each day, I don’t think the ledger size will be a long-term limiting factor. Looks like the role of hobbyists in running nodes will diminish with widening adoption.

Nano’s value is being the fastest, most efficient currency around. Entreprenuers make use of natural market incentives / natural efficiencies to make money on a business.
Cryptocurrency has distorted that term a bit with something more closely resembling subsidies. The transaction fees and block rewards are subsidizing the security parameter and processing prioritization. PoW chains need this subsidy because their security parameter costs a lot. Additionally we’ve seen miners work to limit the network’s throughput in order to rent-seek on the limited transaction space. Damn, talk about unaligned incentives between users and miners.
The people we’re looking for are the entreprenuers that know how to make use of a faster, lower cost currency.

Yes, having a fixed supply is an essential component of currency. If people can add more currency to the system, they’re taking value away from everyone else in that process. It’s unfair and unethical.
1 Nano actually can be divided down very small so there’s no risk of not having enough coins.

In this response, Colin is addressing a question about Steem and other dPoS systems. One major difference with Nano consensus is: having more Nano does not get you more Nano, there are no rewards for holding Nano. Holding nano doesn’t give people voting privledges on network changes, or any other centralizing component associated with holding.
Another big difference is voting in nano does not produce blocks, it chooses between conflicting blocks that a user publishes. If you don’t attempt to double-spend, your transactions cannot be voted against.

From Andy:
1. The faucet did indeed seed Nano's amazing international communities, and the contributions from around the world to the project have been unbelievable over that last 2.5 years. Communities are still active, engaged and building 💪
2. The effects of Nano being added to the Atomic Wallet (and other multi-currency wallets) is two fold. It increases the accessibility and convenience of storing Nano alongside other coins and also helps to disperse voting weight across a wider spread of representatives - increasing decentralization!

We certainly feel that Nano possesses far and away the best fundamentals, democratic approach to decentralization, and user experience.
Being fully distributed and operating on a the mainnet since 2015 is also very important, and puts Nano way ahead of many other projects making bold claims about future potential.
Nano is here today, and works as one would expect the digital money would!

Privacy is an attractive proposition to users of digital money for obvious reasons, it can be very important. Our position towards privacy is more conservative as we have seen many more hurdles to mainstream adoption being put in front of privacy-based projects.
With that being said, there are eyes towards the technical implications of introducing privacy, but it is extremely difficult to do this without incurring slowdowns to settlement times.
Throughout 2019 we were able to make significant progress in helping some of the more well-established cryptocurrency services such as exchanges, fiat gateways, payment platforms, and wallets- like Atomic 😄, to understand and integrate Nano. This proliferation of Nano across the space has ensured that it is increasingly more convenient for users and merchants to access and begin using Nano for payments.
submitted by Live_Magnetic_Air to nanocurrency [link] [comments]

TomoChain AMA with DAppBird: Public blockchain applications for businesses.

TomoChain AMA with DAppBird: Public blockchain applications for businesses.

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Hi everyone. Pleased to be here! Thank you for taking your time to join me.
I’m the Chief Business Development Officer for TomoChain.
Educationally I graduated university with degrees in both Industrial Engineering and Economics from Georgia Tech, and later earned an MBA from the Wharton School of Business.
I grew up as a gaming addict and have a video game collection that is a bit unwieldy. Dozens of consoles and, at one point, over 13 classic arcade machines.
So, before crypto, I spent much of my profession in the gaming space. I was a Game Designer, Game Producer, and eventually Studio Head for a major games studio that was recently purchased by Rockstar Games. I have run my own game-related tech businesses as well.
I fell into crypto back in 2014, and over time it became a second passion of mine as I began to truly understand the value of decentralization. True ownership of data was not possible until Bitcoin came along and that is simply a powerful and game-changing message to a world structure built on an opposing foundation.
Brief Introduction

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TomoChain is a Public Blockchain powered by Proof-of-Stake Voting. TomoChain launched into Mainnet 1 year ago in December 2018. It is secured by 150 Masternodes, of which I’m proud to be an operator myself. TomoChain is EVM Compatible and runs at a speedy 2000 TPS with a 2 Sec Blocktime. Gas fees are almost zero too.
Based out of Vietnam, TomoChain is Southeast Asia’s largest public blockchain. We are focusing on developing a full suite of DeFi products. We also have commercial and enterprise clients. TomoChain has a number of major crypto-partnerships including notables like Neo Blockchain, Chainlink and Crypto.com. Our Masternode network is run by some of the most recognizable players in the space as well, including Neo Global Capital, CoinGecko, HashQuark, KuCoin, and more large players are on the way.
TomoChain earned its place onto Binance.com with a fee-free listing last year by winning the BinanceDEX community vote in August 2019. Binance has written us up in a detailed Binance Research Report and awarded us the V-Label. We have also been in a number of their reports, including those related to Dapps and DeFi. We have been interviewed by Forbes.com official and had an in-person interview at NASDAQ, in the heart of Times Square, about TomoChain and our upcoming TomoX Protocol.
In China, specifically, we have been integrated into and have solid relationships with various blockchain players including HashQuark, HashKey, CoboWallet, Conflux, and many others. We launched an Ecosystem Development partnership with Neo Blockchain last December and co-hosted a meetup + workshop with them as well.

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GEARED FOR REAL WORLD USE
Now, let’s talk about how TomoChain has been built for real-world use.
We’re looking at Payments & DeFi as low hanging fruit when it comes to user adoption and TomoChain is developing a suite of tools to support this. The biggest challenge for having users benefit from Blockchain on a day-to-day basis is how much friction is involved to acquire, store and use it. Even stable coins are dual currency systems. The Stablecoin and then the Native Token to pay gas fees. Blockchain is simply not user-friendly.
Our view is that the true solution for Blockchain adoption by the world is end-users shouldn’t need to know they are using blockchain technology at all. It should be a hidden technology layer, similar to payment processor settlements or even the internet distribution centers/routers that power this very AMA we’re all participating in right now. Do we need to know the underlying technology infrastructure to use them? Nope.
We are developing a system to hide this friction, so the TomoChain blockchain can be integrated into real-world applications that you use every day on mobile or web.
There are 3 protocols that we are building to enable this future: (1) TomoZ: Zero Friction (2) TomoX: The DEX Protocol (3) TomoP: The Privacy Suite.

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TomoZ: Zero Friction - Our TomoZ protocol is a core starting point to the solution for mass market use of blockchain technology. TomoZ: Zero Friction allows for token issuance and use by having gas fees paid by the token itself. That means you don’t need TOMO to send transactions. You don’t even need to know you’re using the TomoChain blockchain.
So you could buy a cup of coffee at a café using loyalty points that are TomoZ tokens. The customers redeem for their coffee or earn it, but they don’t even have to know it’s a blockchain token which they actually own.
This approach is structured to enable the next million-plus users to utilize blockchain as a technology layer. After all, the real value of any Blockchain is in its utilization of high-quality transactions.
Now, TomoZ transactions aren’t FREE. It actually does use TOMO, but that’s hidden from the end-user. The way it works is that the token issuer deposits a small amount of TOMO into a pool. Every time the token is sent, TOMO is taken from this pool to pay the Masternodes.
The key is that the end-user doesn’t need to get involved with internal workings, which is why we call it the Zero Friction protocol
Now let’s talk about TomoX: The DEX Protocol
TomoX is an upcoming DEX Protocol that allows anyone to launch their on permissionless Decentralized Exchange in minutes. It requires very little technical knowledge making it a near turn-key solution.
TomoX is the fastest DEX experience since it’s a Layer 1 protocol. This means it’s run and secured by the entire TomoChain network. Our Masternodes manage the DEX instructions directly, rather than other DEXs that operate as a Layer 2 protocol. What this means is TomoX DEXs will operate at about 50x faster than a typical 0x exchange. That significantly improves the end-user experience.
TomoX DEX operators have access to a shared liquidity pool across all DEXs. That means a user buying on one DEX can be matched with a user selling on another DEX. Of course, Operators can customize and choose which tokens to include.
TomoX is fully decentralized since the Order Book is on-chain. Many other semi-decentralized exchanges store the OB on a centralized service in order to speed up the execution. That means there is a centralized point of weakness for them. TomoX minimizes custody and security challenges that centralized exchanges have too since all users are always in possession of their assets.
TomoX is currently in testnet and you can checkout TomoChain’s own DEX, aptly called TomoDEX, here: https://dex.testnet.tomochain.com/
Here is a link to get some free Testnet TOMO that can be used on the testnet version of TomoDEX: https://faucet.testnet.tomochain.com/
And finally, there is TomoP: Privacy Suite - TomoP is currently in testnet and is going to be the FASTEST way to send tokens privately. 2-4 seconds fast!
Any token issued on TomoChain will be able to utilize TomoP to send privately and anonymously. And that’s not all. We are including access to wrapped BTC, ETH, USDT, and other tokens that can also utilize the blazing speed and privacy that TomoP will offer.
Dapp privacy is a major part of TomoP. It is going to allow for the creation of Dapps to be built to handle customer data with true privacy, including from the Dapp operators themselves. This can jumpstart a new wave of applications geared towards hiding user information, transactions, assets owned, etc.
We are issuing a new token standard (TRC21p) which will be purely private. The only data available will be on its token supply. Token issuers can optionally provide auditing access to enforcement authorities to meet regulatory compliance. What this means is if the next Global PayPal/Skrill/Alipay competitor can build their service right on TomoChain and meet the most basic criteria required to stay above board in many jurisdictions.
If you guys want to check TomoP on testnet go here and login: https://wallet.testnet.tomochain.com/
Get some free Testnet TOMO that can be used with the TomoP testnet: https://faucet.testnet.tomochain.com/
Questions from the host
1. It’s been stated that TomoChain was on track to be a cash flow positive business, is it currently cash flow positive? What services or products is it offering to bring in this revenue?
Yes, absolutely. Our plan is to be cash flow positive this year. This really goes back to the level of experience our executive team has. Everyone is seasoned, having come from different fields, in big business and startups. Before the crazy boom of ICOs and IEOs, raising funding for traditional startups required considerable proof that there was market fit, that there were actual customers to drive revenue, and a model for growth.
We knew that TomoChain’s funds raised during the ICO were for a space that has yet to prove itself so the company had to be smart in budgeting for an uncertain future. And part of that initial preparation was selling much of the ICO proceeds into fiat. Something MANY blockchain startups did not do, largely due to ambitious teams that are also headed by very inexperienced leaders. So while the bubble burst, we had capital to continue operations and to even scale it.
And, we ARE running a business. A sustainable business requires us to identifying areas to generate income in order to minimize risk and to sustain the business in the long term. So we do both consulting and services work by helping clients to develop wallets, launch tokens (Orbyt), build exchanges (AIS), and of course enterprise solutions on the blockchain of which we have clients based out of Japan and in the Middle East using blockchain for traceability solutions across various industries from automotive, healthcare, and food.
2. What is the most strategical step TOMO is doing to bring adoption of TOMO coin to our daily lives?
Empowering businesses with a truly scalable blockchain that can be used by thousands and millions of users. We see user adoption of blockchain coming from businesses that base their solutions on blockchain technology. And, TomoChain has a number of real income-generating companies that have built on us, from exchanges to payment services to enterprise clients. Not bad for 1 year I say, especially during a stagnant market. Here are some examples.
UcarPac – A Top 10 User Car company in Japan is building traceability solutions on the blockchain. We completed a POC at the end of last year. After the assessment, the client decided it was solid and commissioned Phase 2 to expand the development of the project for commercialization purposes
Triip Protocol – Triip is a destination service for travelers to book vacations powered by Blockchain. Triip is a Shark Tank Vietnam alumnus, and the first ICO on TomoChain. Users can book tours and staycations using Triip or TOMO tokens.
WisePass – A service that sells subscription services to get discounted Starbucks, Singha Beer, and even makeup (of all things) integrated TomoChain as a payment solution
“Undisclosed Vendor” – Soon to be announced, a large player in the corporate gift giving business is also launching a Dapp on TomoChain to allow for them to make purchases with TOMO across thousands of items.
Maka - A peer-to-peer marketplace to conveniently buy/sell TOMO and other blockchain tokens using standard payment gateways, including e-wallets and bank transfers.
Coin98 – A local Vietnam crypto media company launched an App to allow for their community to earn their TomoChain token called C98 and use it for products and services geared around investors and gamers. The reception has been HUGE. 95,000 users and generating 500K+ transactions on our blockchain within 3 months of their launch! They are proving that innovative new business models can be adopted relying on and being blockchain specific.

https://preview.redd.it/mlol3zl6m5t41.png?width=759&format=png&auto=webp&s=4a516404ed6a15de0e56fd08ed1e354a53c4191e
3. Do you have any plans to collaborate with developers or attract more Dapps built on TomoChain?
We are today. Our founders run the largest Blockchain Developer community in Vietnam and we work with a number of them to help develop solutions on the blockchain.
Our team has held Hackathons a few times over the last couple years and we have done developer workshops too, including one with Neo Blockchain. And this year we are working closely with educational institutions to launch blockchain courses in Vietnam.
Every Dapp developer we work with is a partner. We try to provide as much support as possible, both technical and marketing. A number of Dapps are games on TomoChain and we hold contests regularly to promote the developers and their titles.
Since we are focusing on alleviating the friction of blockchain technology, we are building out an API that will make it even easier for developers to integrate blockchain into standard applications. This is intended to allow standard non-blockchain application developers to operate in an environment they are accustomed to while also having the benefit of blockchain technology accessible.
Onboarding more developers will take time. However, I’m confident we’re on the cusp of something wonderful in the coming years that will change the relationship between users and applications enabled by blockchain. Entirely new economic structures can be set up since it’ll be the users owning all of their data for the first time in digital history. And true ownership is a powerful motivator that can be harnessed by innovative blockchain businesses.
submitted by alexngn201 to Tomochain [link] [comments]

Nano #Ama on Binance Spanish telegram group!!

Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers.
-(Admin) ¡Welcome Binancians to our following AMA!
I will explain how AMA works; we will have three (3) segments.
Segment #1: I am going to ask to our guests five (5) questions and then they will answer them.
I will be explaining the rest of the segments as we conclude one of them.
-(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you?
- (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now!
-(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well!
-(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you.
Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project?
-(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals.
-(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team.
Here you can find all the weekly updates: https://nano.org/en
Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later?
-(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol.
-(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it!
My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask.
Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method?
-(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives.
-(Admin) This is incredible! thanks for your answer!
Can you tell us about what the Open Representative Vote is about and how it protects the network?
-(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy.
-(Admin) Very good! The last question on my part:
Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about?
-(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us.
-(Admin) https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f
Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community
https://www.youtube.com/watch?v=eh9pA8UCUrI
Can you tell me what we see in this video?
-(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency.
- (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use!
-(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption.
- (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever!
-(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate
Segment 3, community questions
Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions?
A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less.
Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it?
A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network.
Q - Do you have any short or long term projects so that transactions using $NANO were anonymous?
A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions.
Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS
A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible.
Q - (7 questions made from one persone at once)
  1. How do you manage to make your transactions virtually instantaneous?
  2. How do they create part of the company's livelihood if no fees are charged for transactions?
  3. Why does $ NANO consume so little electricity?
  4. Requirements for a medium-sized company to adopt nano correctly as a means of payment?
  5. Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
  6. What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees?
A - (Colin)
  1. Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
  2. We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
  3. Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
  4. You can run a nano node with 40-60$/mo using cloud virtual machines
  5. Nano pow is just a more efficient way to slow people down from sending transactions to the network
  6. The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence?
A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available.
Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today?
A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before.
It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure.
Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment
A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area.
Q - What plans do you have to close this 2019 to increase adoption in Latin America?
A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon!
Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground?
A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available.
- (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys!
@AndyNano It was amazing to meet you, I learned a lot from you
@FundacionNanoVE Thanks for making this happen! excellent work
@nano_isam Thanks for everything buddy!
-(Zach) Can we ask a question to the channel?
What are the top things Nano can do to help you in your daily lives?
-(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen?
A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need
A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most
A - encrypted file in a pendrive
A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano!
-(Colin) Question: Are there barriers to using Nano in your country right now?
A - No barriers in Venezuela
A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO!
A - There should be no barriers to the payments we wish to make, freedom above all
-(Colin) Fantastic!
- (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
submitted by AlejandroZD58 to nanocurrency [link] [comments]

NANO #AMA ON BINANCE SPANISH TELEGRAM GROUP!!

Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers.
-(Admin) ¡Welcome Binancians to our following AMA!
I will explain how AMA works; we will have three (3) segments.
Segment #1: I am going to ask to our guests five (5) questions and then they will answer them.
I will be explaining the rest of the segments as we conclude one of them.
-(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you?
- (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now!
-(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well!
-(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you.
Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project?
-(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals.
-(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team.
Here you can find all the weekly updates: https://nano.org/en
Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later?
-(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol.
-(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it!
My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask.
Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method?
-(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives.
-(Admin) This is incredible! thanks for your answer!
Can you tell us about what the Open Representative Vote is about and how it protects the network?
-(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy.
-(Admin) Very good! The last question on my part:
Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about?
-(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us.
-(Admin) https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f
Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community
https://www.youtube.com/watch?v=eh9pA8UCUrI
Can you tell me what we see in this video?
-(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency.
- (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use!
-(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption.
- (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever!
-(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate
Segment 3, community questions
Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions?
A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less.
Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it?
A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network.
Q - Do you have any short or long term projects so that transactions using $NANO were anonymous?
A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions.
Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS
A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible.
Q - (7 questions made from one persone at once)
  1. How do you manage to make your transactions virtually instantaneous?
  2. How do they create part of the company's livelihood if no fees are charged for transactions?
  3. Why does $ NANO consume so little electricity?
  4. Requirements for a medium-sized company to adopt nano correctly as a means of payment?
  5. Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
  6. What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees?
A - (Colin)
  1. Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
  2. We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
  3. Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
  4. You can run a nano node with 40-60$/mo using cloud virtual machines
  5. Nano pow is just a more efficient way to slow people down from sending transactions to the network
  6. The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence?
A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available.
Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today?
A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before.
It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure.
Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment
A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area.
Q - What plans do you have to close this 2019 to increase adoption in Latin America?
A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon!
Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground?
A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available.
- (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys!
@AndyNano It was amazing to meet you, I learned a lot from you
@FundacionNanoVE Thanks for making this happen! excellent work
@nano_isam Thanks for everything buddy!
-(Zach) Can we ask a question to the channel?
What are the top things Nano can do to help you in your daily lives?
-(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen?
A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need
A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most
A - encrypted file in a pendrive
A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano!
-(Colin) Question: Are there barriers to using Nano in your country right now?
A - No barriers in Venezuela
A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO!
A - There should be no barriers to the payments we wish to make, freedom above all
-(Colin) Fantastic!
- (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
submitted by AlejandroZD58 to u/AlejandroZD58 [link] [comments]

Community Request: Help Venezuela & Network Stress Test together

Hi, I wanted to ask, what are people's ideas and opinions on the following and should we go ahead with this?
TL;DR We raise $12,500 as a community, request if Devs can match it. With $25,000, we open the original Raiblocks faucet for 24 hours paying out 0.01, aimed at Venezuela. That will lead to 2,500,000 transactions. All the techies/node holders etc on the same day, run scripts and do further stress testing on live network.
Why and When: Current situation in Venezuela, how Crypto can help them and prompt adoption, $2-4 is thier MONTHLY wage. They can earn $1.8 per HOUR. Lead to boost in marketing. Bitcoin Cash is doing thier stress testing on 1st September, we can use thier marketing and awareness they've built and show how Nano did more than BCH, is faster, had zero fees cost and helped real life people and the real life Venezuela situation

Summary and background
Given the current Venezuelan crisis, and how crypto can have a positive impact on people living there, with some peoples monthly wages are around $2-$4. As a community and for crypto adoption, how do we move forward in order to make a real difference and generate awareness?

While, there were previous talks about a community stress tests for our network, this did not happen due to other events. However Bitcoin Cash, are planning to do a community stress test on the 1st September, and when they do this, there will be big news on their achievement.

My idea/proposal
As we have a fantastic opportunity and a chance to gain significant marketing and awareness, if we can do a community stress test on the same day and help people in Venezuela. This will be a massive boost in marketing and awareness of NANO, and when we beat BitcoinCash at the same day, and can help real life people and promote adoption. We can effectively, use all their marketing and build up and on the same day, when the news and stories come out, we would be on top. In effect the old saying of "kill two birds with 1 stone".

Steps required
1) We as a community and u/TheNanoCenter create a request to raise $12,500. Given the success of the previously fund raising of $5,000 in less than a week. It does seem possible, to raise this in a 2-3 weeks time.

2) We ask useTroy, to request if the Devs could match this amount and support the idea, If yes, we move on

3) We will then have a total of $25,000 or a total of 2,500,000 cents.

4) We then ask Colin, if he could Resurrect the orignal Raiblocks faucet and relaunch this with Nano. If we take $25,000 and pay out 0.01 cent for the faucet. The person in Venezuela can earn around $1.8 per HOUR (in comparison their monthly wages are around 2-4$). We can assume or cap the faucet, so it pays out every 20 seconds. I have contacted a few people from Venezuela and they said earning 10$ would be great and significant for them.
This faucet would be online and live only for 24 hours on 1st September and paying out, every 20 seconds per user.l, we can educate people on crypto and what NANO is and other general things, our goals and missions.
It will give a chance to a wide range of people to equally obtain funds and learn more about Nano and crypto. Currently - User ChocolateFudCake, can confirm the amount of people from Venezuela,

If people are happy, we can create a discord and start to promote this and we can teach people how to set up their wallets in advance. Based on my maths, if a person can do 3 faucets per minute, that means 180 per hour, on average lets say they do this for 15 hours, they can do 2,700 faucets, which is around $27 in total. With the $25,000 we can effectlty help and equally share this out to a total of 925 to 1,000 people.

5) This should give us a total of 2,500,000 transactions on out network and based on my calculations put the Tx per second to around 29 on average. 2,500,000 / total 86,400 seconds per day (Wrong calculation?)

6) While this is happening, user jaydubs, Kritainji, all node holders, techies and everyone else (too many people to name, who always help out) who can help, and can use their scripts/skills to send more transactions in the background and stress test the network.

Final outcome
This will really help a range of people more directly and equally and give them a chance to potentially earning around 4-5 months of wages in a day. As well as give us a massive boost in marketing and have the chance to tag this story on how cryoto is helping real life people and how we managed to beat BCH, and how the fact the news stories will highlight how there was zero transaction costs and highlight everything Nano and the Nano community can do over BCH and our vision.

I have wrote UseXYZ as I wanted ideas and opinions first and if people would want this, then I will tag the users.
Will update formats and tidy up later tomorrow, just want some initial ideas and thoughts, is it possible or any risks? Ill share the posts abot the wages information too
submitted by Balkrish to nanocurrency [link] [comments]

Of Wolves And Weasels - Day 12 - Hoping for a Bubble...?

Hey all! Goodshibe here!
Serious talk day, it seems...
Good things come and good things go. One of those things is 25 Satoshi Dogecoins. If you had confidence in the coin - in the community - to buy and hold even when things were looking shaky, you're being rewarded in a big way right now.
Heck, even if you bought in at 60, you've got yourself a tidy profit... should you choose to sell.
I know it's a sign of the moment - our jump to 80-90 satoshis has me reeling a bit too. But, not just today, I'm hearing lots of talk about people who are (quietly or otherwise) hoping this is all just a big bubble. That any day now, the world will collapse around them and they'll be here to pick up the pieces. And I understand that - it's human nature to want to have more. But at the same time let's examine what the reality of those hopes are.
Those of us who've been around since the start -- watched it grow to 200 Satoshis on the market, then crumble and fall to 25, understand that bubbles aren't something to wish for. We had the luxury of newness, the ability to mentally check the box in our heads that allowed us to say 'okay, yeah, this makes sense'. That this kind of crash was practically a given for an unsupported coin. It helped us make our peace - and, in some ways, ensured we were strapped in for the long haul with this coin. My first Dogecoin 'buy-in' was at around 150 satoshis -- and I did not know then what I know now. Be that about the markets, or trading or anything. I had some shards of bitcoin kicking around from various faucets, etc and I bought in. I think I got a few hundred DOGEs at that price. I tried to play speculator when the coin was falling (another mistake) bought some bitcoin, like $50 worth, and bought in again at 80 satoshis, thinking 'it's not going to go any lower!'. And it did.
That was a fun ride down, let me tell you. Watching my 'money' drain away. Again, I didn't know anything about anything. I did not have a good time. Thankfully, I found this community - this wonderful group of people who looked at the wreckage of our rocket, and with what could only have been a hint of madness in their eyes, had the utter gall to look at the sky and howl 'TO THE MOON!' anyway... and start building a new rocket out of the wreckage.
That's when I fell in love with this community.
That's when I became GoodShibe.
And from there, we've come so far. In just under 6 weeks, this amazing community has come together under the mantra 'who care's what it's worth, this is fun!'. It's that mantra that has brought our community to 30,000 Shibes. It's that mantra that has inspired us, together, to build Dogecoin into something that is starting to 'have value'. Moreso, the outside world is starting to agree with us.
We're not an unsupported coin anymore.
We're getting attention. We're getting new shibes joining the party every day -- who don't know our history, brief as it is -- and who don't have a stake, yet, in the community.
I guess my point here, my friends, is that I feel like we need to have a chat about what success is. And the way to do that is to take a look back, at our brief, but amazing history. To see the the trials and tribulations that have made this community what it is. We need to chronicle it for the future. To prevent Dogecoin from becoming Bitcoin-lite, full of businessmen only looking to profit.
You see, while greed is not a 'bad' thing -- it, like many things, is a natural motivator -- it does tend to limit one's view. It focuses you on the moment and not the long view. And hoping for all that we've built together to crumble around us, is really only a vision of greed.
I invite some of the shibes who've been here from the start to share their stories, help them be remembered.
And for those of you just joining us: Who cares if you bought in at 30 or 50 or 90? Take a look at the long view. Ask yourself: In one year, do I believe - no matter where it goes tomorrow - that Dogecoin will be worth more than it is today? If that answer is yes, then buy in now and help make 90 the one that new shibes look back on wistfully, saying 'man, I wish I could've gotten in back at 90'.
It's 9:09 AM EST, your global hashrate is hitting high at 55 Gigahashes per second and Difficulty is holding strong at ~682. My best guess is that Litecoiners, seeing how hard it is to make a buck on Litecoin these days, have all caught on to Dogecoin. Whether they're all going to start cashing those DOGEs out for LTC or whether they'll hold them will decide how DOGE fares for the next little while.
As always, I thank you all for your support!
GoodShibe
EDIT: I've sent @notch a 5000 DOGE tip on Twitter to see if he'll allow us to spend Doges on Mojang games. Check it out here
submitted by GoodShibe to dogecoin [link] [comments]

Actinium - PoW, no ICO, no premine. New crypto from a Certified Bitcoin Professional.

First of all, technical info:
Current version: 0.16.0.0
Supply: 84 million
Block time: 2.5 mins
Algo: Scrypt
Coins per block (before 1st halving): 50 ACM
Halving: every 840000 blocks (roughly 4 years)
No premine
No developer rewards
No airdrop, ICO and similar things
History (extracted from Discord)
A History of Actinium (Written by Harris Brakmić, aka brakmic)
I think I should write a few words about the project, it's beginnings, the whole idea and how it came to existence. I really want this project to succeed and I am ready to do anything & everything to make it a success. Will write a stream of consciousness.... let's begin...
It was a few weeks ago when I decided to leave my last crypto project. The decision had nothing to do with this project as at this time I wasn't even sure if I am going to stay in crypto at all. Also, the people from the former project were really nice to me (good, professional colleagues) So, it had nothing to do with this project, but it was important because without me departing it, Actinium wouldn't be here. So, one thing relates to other, (in)directly. However, a few days after my departure became "public" (I've silently left the project to avoid any negative spikes in the markets).
This was due to my role there. My part was the development of their latest security feature (again, not important for this project, but indirectly it makes clear that I came from "somewhere" without a big bang) So, after it became public a few guys who also had been members of this project but have left some time earlier (and they were also developing another coin in secret as I would later find out) approached me. It was just a friendly talk, like: "hey bro, you left the project", "what happened" so we talked and talked and then they offered me to join their project which was (and I think mostly still is) and unfinished idea, some kind of Bitcoin but with Equihash.
They explained it to me that they wanted to keep ASICS out because of "centralization". However, I found this idea bad from different angles. first, Bitcoin's code is state of the art. If you are going to change Bitcoin, well, either you are really good (I AM NOT!) or you are an impostor. or simply batshit crazy.
However, the other developer in the team wanted to change the code this way. Other guys were not developers but simply GPU-miners...well, you understand now why "Equihash". So, we agreed that I will wait for the other coding colleague to finish his work. And it took some time, a few weeks or so. and he still wasn't even able to boot the system, to create a genesis block. And you surely know that we, coders, are people who HATE to sit around and doing nothing.
So I started in parallel a shitcoin and now comes the interesting part... When I came to this team, I advertised the idea to build a coin with a strong focus on the future, ... payment channels, instant payments, off-chain solutions, the Lightning Network however, my ideas were, well, not very "welcome". The other colleague dismissed them, and the other guys who were not coders, didn't follow my idea and as I already said, I had to wait for the colleague to create a genesis block (and also to import the Equihash algorithm from Bitcoin Gold into Bitcoin...how gruesome!)
Actually, the idea with Bitcoin Gold was mine, because he wasn't sure where he could get Equihash from so I sad, half as a joke, hey take Bitcoin Gold, this is a cool scamcoin well, I should have kept my mouth shut! anyway...I remained in this group, patiently waiting and also developing my shitcoin they even created a separate channel called "SHT Talk" where I could present this coin (and not spam their other channels lol) and then, when everything was set up I wanted to mine blocks... but I didn't want to be only miner I am a coder, not a miner and maybe this is a shitcoin, but it should be mined honestly so, I had to beg those people to sacrifice one or two of their many GPUs to mine a worthless coin... it took me a few days to bring them to let some of the cards run...and I understand that...they do this for a living and I am only some random coder with a shitcoin project I don't think I'd behave differently however, after some time they started to mine this (still worthless) coin and being a true coin I decided to make the ANN on Buttcoin if there is a community where you SHOULD NOT announce a coin then I think Buttcoin would be the 1st place so, I wrote a proper announcement, posted it there.... and them people started writing: hey, it's like DOGE.
This is the moment when I realized that people give value to everything even if you decide to create a shitcoin, name it shitcoin, and announce it on Buttcoin, people will still be more powerful than you and think otherwise it doesn't mater what I think the only thing that matters is the community! so, after a few hours of upvoting, the Buttcoin admins realized that there is "something going on" and removed my post from the top this happens when certain people think they're more powerful than many people centralization! well, I decided to keep this coin alive... I was begging my former colleagues even more to use their GPUs but it was of course really hard to persuade them also, some problems inside the team came to the surface the other colleague had some problems with the code, also some personal issues I think...
I don't know the exact details I was mostly a "guest" there, actually had no real influence at one point their "manager" offered me to take over their project, because they were not very happy with the current progress but I refused, because backstabbing is a shitty behavior it didn't matter to me that the coding colleague never liked me personally, but I'd never take his position I decided to play with (at this time) Shitcoin DeLuxe so, I setup a mining pool (first time in my life) a small explorer bought some servers (currently we have 8 servers for everything...mining, explorer, faucet, basic nodes etc.) and then, at some point in time...I think maybe 10 days ago or so... the guys from the other project asked me to come to the chat... also the coding colleague was there... and he still had problems to create a Genesis Block however, he was full of plans what I have to do in future... like: you should write test, setup testing servers etc.
Basically, the housekeeping work well, nothing against testing, as I really like to test my code... but, if you are unable to bootstrap a blockchain, then there isn't much to be tested :sweat_smile: I said it this way, directly into the crowd and then they went silent I am really for friendship, tolerance, respect but if I bite you, you can be sure I will do it so fiercely that you will remember me I also announced that I will rather keep the Shitcoin DeLuxe alive than do housekeeping for a project that still doesn't exist as a real blockchain.
I may have only created a Shitcoin, but there is at least a chain, some miners, some servers, and I am a coder who writes actual code well, after a day or so my access to their chat was revoked... without any information just like that ....soooo....this is it.... what else should I say.... look, dear people... I am mostly working from home...only on Wednesdays I am in the company I get every day a few "remote work" offers... I could take them, my boss wouldn't even notice... such offers usually pay 80-100$/hour I am a professional coder, I do this for a living...
If I wanted money I would really not need blockchain, or Shitcoin DeLuxe please, don't take me wrong... blockchains can generate lots of money And I applaud every miner, investor, and user who manages to get rich out of this or any other coin but you are NOT coders it's YOUR business not mine we, coders, have OUR ways of getting "enough" money for us just like lawyers, scientists, or any other people do if I want more money I simply answer to some of those pesky head hunters... "give me 100/$ hour, keep your mouth shut, will deliver webpage in 3 weeks, here my bank account" this is the coder's way of getting money. I don't have to premine coins, fool people I could have stayed with the other project easily but I didn't want to be there I felt responsibility towards the people here money is important, but we are not only our damn money I think we are more, so, ok, I think I have talked long enough.
I hope I could clarify some things about this coin, how it came into existence, what my motives were.
Mini roadmap
Ledger Nano Support: DONE!
https://cdn.discordapp.com/attachments/441297803189288980/452623209318187018/actinium_ledger_1.gif
Lightning Network: work in progress!
Website
https://actinium.org
Discord
https://discord.gg/Yy8KDEC
Dev info
http://blog.brakmic.com
https://twitter.com/brakmic?lang=es
https://github.com/brakmic
Exchanges
Bitfex and BiteBtc
submitted by Bahnsen92 to CryptoMoonShots [link] [comments]

[Transcript] Crypto Zombie Interview With Anonymous Komodo Founder JL777


Crypto Zombie talks about the interview at 13:30 of his video: https://www.youtube.com/watch?v=LTOdWcuuSFA
Link to full text at pages 10 to 15: https://gallery.mailchimp.com/b1c805c050ef6fca080b9d888/files/cf42e52f-5978-4f4e-b45a-241b94af4638/12_BlockchainBrief_November.pdf
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CRYPTO ZOMBIE: It is difficult to describe the Komodo Platform in just a few words. Often confused as simply a privacy coin, KMD, is actually an incredibly robust and intricate ecosystem. With Komodo’s unique spin on smart contracts, referred to as “crypto-conditions,” and the fact that KMD has already achieved 45,000 TPS (1,000,000 possible in the near future), this platform may actually be the first crypto to solve all four of blockchain’s major pain-points: privacy, scalability, interoperability, and security. In this much anticipated AMA, I got to chat with the anonymous founder of Komodo, JL777, via the Komodo Discord. Here is what JL777 had to say...

CZ: So let’s jump into this directly with the MOST requested community question: Are you Satoshi Nakamoto?

JL777: Happy to answer questions of a non-personal nature. That seems pretty personal. But I didn’t arrive in crypto until late 2013, so clearly I can’t be Satoshi. Maybe there are a lot of similarities in our beliefs, but he was gone before I arrived.

CZ: Just starting off with some fun! Alright, so all jokes asides let’s dive in. What exactly is Komodo (KMD)?

JL777: It has many different aspects, hard to make a single statement about it. I know this drives the marketing side nuts as they need these elevator pitch things. However, I can explain how it is evolving. It starts with the desired end solution: a crypto that can handle mass market scale, has privacy, is secure, and fast. Given that just getting two of those four usually requires making significant trade-offs to decentralization. You can imagine that it is not an easy problem to solve! So, KMD starts with Zcash privacy: the best available privacy tech. So, we can check that off the list. But, it needs to be secure. So I had to invent the dPoW [consensus] to leverage BTC’s massive hashrate. That allowed us to have a lot of independent chains, all secured by dPoW, which led to the runtime forking ability that lets you launch a chain from the command line without any source code changes. PoW, PoS, some hybrid, all types of premine and emission schedules.

CZ: Could you briefly explain dPoW and why it’s so secure, for those who don’t understand?

JL777: dPoW is dynamically creating decentralized checkpoints to the BTC blockchain. That means that once a block is notarized, it is like having it “write protected.” No need to worry about it being rewritten. Being rewritten is a very real danger!

CZ: So in other words as long as BTC is not under 51% attack it would be impossible for Komodo or any of it’s chains to be affected?

JL777: I wouldn’t say impossible, but it becomes order of magnitude (or more) difficult. I wrote a description of the reorg process and can post it here if you’d like.

CZ: Sure we can link to it for further research. That would be great!

JL777: https://github.com/KomodoPlatform/Mastering_CryptoConditions It directly applies to explaining dPoW. It is from the documentation on the channels CC (Crypto-Conditions), which implements an improved form of Lightning Networks and addresses the latency issue, as it provides dPoW protection to mempool transactions. With the privacy and security items addressed, the next thing to do was scaling. Along the way people kept asking for smart contracts. With the notarization process in place, it enabled us to create a solution that non-notarized chains are unable to do. That is creating a reference set of hashes that allow you to verify that a transaction on any chain has been confirmed, on any other chain. It uses a method that is very similar to SPV validation. It’s all about merkleroots and merkleroots of merkleroots from many different chains all being combined. This is sent back to the notarizer and ends up in the notarization data. Once it’s there, then any notarized chain is able to validate the raw data from a transaction that actually happened on a different chain. What that allows is a burn protocol to burn coins on one chain and recreate them on another. So, the total coins across all of the fungible chains are constant. That means you can have however many chains you need for the transactions per second (TPS) needed. Anytime you need to transfer coins from one chain to the next, you use the burn protocol. Reading it, it does seem pretty deep technical... sorry... I guess it can be summarized as using notarization to create a cluster of chains whose total coin supply is held constant. This forms our scaling solution. Instead of having to create some cutting edge networking protocol that can handle some crazy TPS, with our solution you just spawn a new chain. It is similar to building more roads if your existing roads are congested. No need for any magical maglev vacuum tube high throughput high ways. Just a bunch of normal roads, if you have a bunch of cars... Just a bunch of normal blockchains if you need a bunch of TPS. I much prefer the simple solutions, as I can fully understand those.

CZ: Exactly! Such a simple solution, but yet you still see so many people going crazy over TPS! On the topic of tech, I’m curious what your thoughts are on some of these newer solutions, such as the rise of DAG protocols?

JL777: When it gets so complex and you need some math jargon to prove that it works... well, how can I know that it does? Code isn’t exactly a math proof. I think there are many very interesting experiments. However, I prefer to stick with the tried and true Bitcoin protocol and extend it. Why reinvent the wheel? Especially when so much work has been done already to make Bitcoin work as well as it does. It only breaks down at high load and isn’t very easy to program. Though I did make an atomic swap system called BarterDEX, which does utilize the Bitcoin script.

CZ: Yes! Let’s expand on that! What is the difference between atomic swaps and etomic swaps?

JL777: Etomic swap was just my way of quickly getting ETH into the BarterDEX. BarterDEX uses the Bitcoin protocol to do swaps. ETH doesn’t do Bitcoin protocol so I made an ETOMIC coin and you swap that using the protocol. We implemented a 1:1 lock/unlock of ETH/ERC20 for the ETOMIC. It does add a new layer and with mm2, we will directly implement atomic swaps between ETH and Bitcoin protocol.

CZ: With so many blockchains now switching from ERC-20s to their own mainnets (native blockchains), does this mean that some blockchains will never be interoperable through the BarterDEX? Or do you think it’s a possibility in the future?

JL777: With there being so many totally incompatible new protocols, it seems unlikely that they will interoperate very well and will go off and create their own island. Isolated from the rest of crypto. Maybe some will be very big islands though. Unless they have enough usage on their “island” it would seem it will eventually become a problem...

CZ: This does make you wonder if TRUE interoperability between all blockchains will ever be possible...

JL777: I think if these islands wanted to be interoperable, they can add this, but I suspect some don’t want to be. They maybe have dreams of becoming the only crypto. Which, of course, is an unrealistic expectation when the barrier to create a new crypto is so low. You don’t need a nation state to create a crypto! Even with such a big barrier, we end up with hundreds of fiat currencies. There is no single global currency, so how on earth can anybody truly believe there will be some single crypto? I try to base my decisions on common sense and simplicity. It ends up being quite complex as it is, even if it is created out of simple components. Now that KMD is getting the CC extensions, it completes all the technical requirements. The Crypto Conditions is mainly for the scaling solution, but I started experimenting with it a couple months ago and it started surprising me with its power!

CZ: This is true! I know you have a unique way of handling smart contracts. What are Crypto-Conditions and what makes UTXO-based smart contracts such a breakthrough for the future of blockchain?

JL777: To call it smart contracts is really understating what it is. Consider that it is possible to have a single CC (Crypto-Condition) transaction type mean “run the associated smart contract using the interpreted language.” What the CC does is create a new vout type, like p2pk, p2pkh, p2sh, there is a new CC vout type. This is an output that needs to satisfy the specified CC script, which can handle the industry standard Crypto-Conditions specification. But I had it extended a bit so we can have custom functions that also need to be satisfied. By making it a custom function, it allows essentially anything to be implemented. And by anything, I mean ANYTHING. At first I wasn’t 100% sure of this, but my first four CC extensions I made were: faucet, rewards, dice, and assets. The faucet is a blockchain enforced faucet. Rewards is a blockchain enforced rewards plan. Basically what most people want masternodes for. Lock funds... get some extra percentage. Dice is a blockchain enforced real-time dice game, just to show that such things can be done. Assets is a token creation system that allows a user to create new tokens with a single transaction. I also implemented functions needed for a DEX. So, basically counter-party functionality. These were the first four and I did it in several weeks as I was learning about how to do it and doing them for the first time. My thinking is that after we get a critical mass of CC extensions, the vast majority of dApps can be created just via RPC calls. No need to code a new CC extension, no need to code a smart contract, just issue RPC calls (or just click buttons and forms in a GUI). The next iteration of CC, I came up with oracles, gateways, prices and channels. Oracles creates a market driven data market for “oracle-izing” data on-chain. Gateways uses the oracles and assets to automatically tokenize BTC to an on-chain asset and also allows for automatically process withdraws.
Basically the proxy DEX model of trading BTC equivalents, but it will be protected with a multisig custodians and all the tokens are locked in a contract until released with a valid deposit. The prices CC will use the oracles and gateway CC to implement a cash settled BitMEX type of leveraged betting on the BTC price. The channels CC is being debugged by one of the new devs who just started last week and it will be a better form of Lightning Network, as it uses a backward compatible transaction format, doesn’t require nodes to be online, and is secured by dPoW.

CZ: Thats crazy! Most people really have no idea the Komodo platform is this robust. Komodo seems like it has already achieved so many things: scalability, privacy, interoperability, and security. So why do you feel it often gets overshadowed by newer, more “flashy” tech, that may in fact be inferior?

JL777: I think the problem is that it has too much for any “elevator pitch,” so nobody who makes decisions in elevators decides to buy KMD! I don’t think there is any flashier tech than KMD, considering it solves all the crypto issues that other projects are struggling to do just a couple aspects of, when we can implement the entire value add of some project with a single CC that takes a few weeks to do... If that isn’t flashy, not sure what is!

CZ: So, I recently spoke with PTYX from Chainzilla. Will Komodo platform continue offering services to premiere partners or will you be “passing the torch” over to other Blockchain-as-a-service platforms like Chainzilla?

JL777: I just write code, so no idea what will happen regarding the non-coding side of things. I also don’t do GUI, so no idea when any of that will be done. I am just a simple C programmer. So I write C code to solve the deep tech issues that are otherwise unsolved.

CZ: Gotcha... But you know that’s VERY important, especially for user adoption.

JL777: Ideas by Nature I am trusting will solve the GUI issues. Much, much better than I could. I have to rely on others to get such things done.

CZ: Yes I’m excited to see how that turns out! Let’s discuss adoption. You always hear people speak about “mass adoption,” but what do you feel it will REALLY take in order for this technology to reach the masses?

JL777: Games. Realtime crypto games. That is why I did dice CC. We also have plans for a lotto CC. But, really any sort of game can be made blockchain enforceable now by using the CC tech. And, being UTXO-based, it is much more secure and so far it is much faster to code and debug.

CZ: I’m so glad you said that because I feel games will be a huge proponent as well! Are you guys looking to also be able to deal with non-fungibles? For example ERC-721s?

JL777: Already done. We just need a lot more coders, domain specific CC, to take the reference CC I am making and customizing it into some specific dApp. My role is to show the type of things that can be done, but we really need a big ecosystem with projects doing the various games and specific use case dApps.

CZ: Do you make any decisions outside of just the coding? How does the governance within Komodo work?

JL777: People like to ask me for my opinion, even on things like colors and such things, but I try to stay out of it as much as possible. Let each person with expertise make the decisions. If there is some deadlock, then maybe I let my opinion be known. But, I don’t have any special powers, other than the common sense thing, and people when they hear a good common sense solution to a problem they are battling with, it is usually adopted. But, I stay out of the team meetings and let them do their thing. Things are centralized around me too much as it is, so I try to reduce it as much as possible

CZ: That’s good to know. Seems quite fair. Everyone has a say and anyone can expand on the ecosystem how they see fit to the best of their abilities.

JL777: Yes, totally open community.

CZ: So, this is another community question: What is your relationship with ØCryptoUnion?

JL777: There is no formal relationship. They are working on some sort of gateway project, like several other projects. But, there are dozens of projects in the ecosystem and no formal relationship. This is old style crypto, not the new style corporate. At least that is how I am “managing” the open source side of things. There is a different side, that I am not involved in, so I can’t speak to how things are done there.

CZ: You bring up a good point, however, given the reality that we live in a world that is controlled by few (governments, institutions, etc), do you think a truly decentralized future is realistically possible?

JL777: A much more decentralized future is possible. But, it is also possible for a global totalitarian state. We already are close to a global surveillance state... very dangerous

CZ: I think the biggest problem is getting people to actually CARE. Most people just want the easiest, most convenient thing and often are willing to sacrifice privacy over convenience.

JL777: Well, when it comes to MONEY, people do CARE. Especially in the parts of the world where basic survival is not easy. But yes, privacy has been sacrificed a lot, to the point where people think you must be some sort of extremist if you just want to keep some privacy. But, a lot of writers of novels used pen-names. Nobody went accusing them. When the police can’t be trusted to be fair, then everybody cares about hiding as much as possible, since anything can and will be used against you! And we know we can’t trust criminals, since they ignore the law.. So why advertise to the world who you are?

CZ: I agree. People always say “well if you have nothing to hide, then who cares?” I think thats the wrong attitude. So, before we go I just wanted ask one final question. Ultimately, what is your grand vision for the Komodo Platform and what can we expect in the near future?

L777: Like you said, mass market adoption will need nice GUI. The low level tech in my mind is basically done. We just need to do a bunch more CC, which can, and will be done. Then people can make dApps via RPC calls. So with the easy to use GUI that gets mass market adoption, that achieves the goal of the scalable, secure, private and fast crypto. Likely KMD will be the first to achieve all four and have an atomic DEX to interface with many other cryptos. It has been a long journey, but within a year or so, I think I will become much less important. Things shift into the “GUI-zation” side of things. Maybe I can take a vacation...

CZ: I have no idea how to code but I can only imagine that vacation will be WELL deserved!

JL777: Just imagine writing a novel where if you make ANY mistake it crashes! Not just spelling or grammar, but character development, plot, or any error and BOOM! It’s DEAD!

CZ: Great analogy! Well, thanks so much JL777 for taking time out of your busy schedule to have this chat. You are clearly an intelligent person and I’ve really enjoyed this. There is so much more we could talk about, but unfortunately there is only so much time!

JL777: It was fun to chat! Feel free to stop by the Discord anytime. There is an “Ask-JL777 channel” here. Just post there anytime and I will answer.

submitted by KomodoWorld to komodoplatform [link] [comments]

Build own Ethereum Token with Solidity

img It is important when we talking about how to Build own Ethereum Token with Solidity to keep in our minds that there are two types of cryptocurrencies: one is coin and the other one is token.
Difference between coins and token The main difference between coins and token that you should know before you Build own Ethereum Token with Solidity is that: Coins have their own blockchains.
For example , bitcoin is a coin it has its own blockchain, Ethereum is a coin it has its own blockchain. There is other type of cryptocurrencies that are talking basically they are using the blockchain or the backbone that are already built
For example , 10x pay storage or my school and civic are all ERC 20 tokens.
I'm going to tell you how to Build own Ethereum Token with Solidity from scratch and I'm going to keep this very simple, let's do it and start from now.
The first thing we need is actual code that is a basic of your token.
Now we are going to make a ERC 20 token that is a basically Ethereum smart contract.
What you can do is actually building your coin from the bottom. telling him what to do in case of transfer, what to do in case of initial, how many coins the owner has, how to send, it how to receive it and all those kinds of stuff. This is the basic code and all you need to do is go to the Ethereum GitHub solidity ide and paste your token right there. this is my basic code (the code will be in file named attach 1) paste it in this place img Don't have to be worried about anything that you don't understand in the code. I'm going to put the comments in the most important part that you will change in the code. img Number 1 : your coin name. it can have spaces and all sorts of stuff. let's call this crypto coop token.
Number 2 : The symbol. like 10x pay or BTC. let's call it CC X.
Number 3 : your initial supply. how many coin you want to have initially. leave it on 10,000.
Number 4 : The decimal places, this is quite hard to understand but basically it is how many times you've on each coin to be divided.
it can be divided to 18 times so you will have a lot more coins and stuff so leave it on 18. Now we are going to run this on a testing environment because we don't want to actually do over debugging using a real smart contract because that way we have to actually pay for the gas money we have to pay like $30.
So, we need to install a Google plugin that let us try and test this in a testing environment. Go to MetaMask.IO and install the Google Chrome plugin. You will see the icon on top right of your browser, click on it and accept the terms.
img put your password then click create. They will give you mnemonic words in case of you lose your account or you lose your wallet they can restore it.
Be careful , if somebody have the mnemonic words they can take your wallet and take all your money so add this to your notepad and encrypt it and save it somewhere.
Once we have this wallet first let's go to “Main Network” then click “Ropsten test network” because we are going to test, we don't want to really take our Ethereum for transactions. img Now let's buy some fake Ethereum click on “Buy” then go to “Ropsten Test Faucet” and click on “request 1 ether from faucet” and let's do many times click on it.
It will make many transactions below click on one of them img
This is going to send us some fake Ethereum to the current account.
We still have 0 but watch the magic. let's go back to our solidity IDE (when we pasted our code “pic 1”) and refresh the page. Now keep looking at our fake wallet and let's get happy by our fake money. img look at this we have 12 Ethereum we have two or thousand dollars good I wish life was so easy like this. Once you have this money now let's go to our IDE and press create then press submit. img It is really real even though you're on the test environment and if you are not in the test environment is really going to run this. Once you have submitted click on this. img And wait for a minor to pick up your contract. Somebody picked up my contract it took 26 seconds. img once you have this copy the entire contract ID and go to your Ropsten Test Wallet and click on” token” then click on “Add Token”. Say you want to create token using this contract (that we copied) img Look at this it recognizes the token Symbol, you don't need to put the decimal press add.
Congratulation you Build own Ethereum Token with Solidity and you have your own CCX You have your own coin and if you go to the Ethereum scan. img Even though it's Ropsten is a fake page you can see this called a cryptic OOP token and I am the owner of crypto code talking.
img Now and I have this much coin and welcome to the ICO initial coin offering phenomenon when an owner of the Coin has the most majority coin and here we are.
If somebody want to buy 1000 from me I'm going to come to my wallet , select “send” and send this much amount to your address. img Now I Built my own Ethereum Token and I have my own coin and I can sell it to the public. It is easy right?
submitted by vici_whisely to CryptoCurrency [link] [comments]

Thoughts on the current state of Bitcoin from someone who participates in much of the ecosystem [and tipping thread ;) ]

Hey guys,
So this is something I've been looking at for a while now, and kind of seeing some things die and other things be born. Some things are getting easier, and other things getting more difficult. I want to take this time to outline the last few months and how my sentiment is reflected towards the market. I have to say, the market generally matches how my "emotions" playout towards the ecosystem as a whole.
I'll outline just a few short things on both the bearish and the bullish sides of my sentiment, even if things don't effect the overall sentiment much (at least according to most traders and people) I'd like to point them out because I view them as notable.
Some of the not so good things that have been happening:
Anyway, in many respects it feels like a lot of the bitcoin ecosystem is dying, and maybe we should all panic, cry, and shit our pants, but a few things haven't been going badly, and in fact, I'm looking optimistic that the next time a surge of new users enters the market for whatever reason, there will be a much more developed and kind ecosystem to take part of. No one is going to be touting the next 5 second confirmation coin, no more of the ubiquitous "investment" opportunities that await the uninitiated.
Other than my love for bitcoin in general, this is what makes me not panic sell, and what keeps me optimistic about the bitcoin future:
Alright guys, thats my sentiment overview, and I hope it wasn't tl;dr for most of you. But one last thing I want to point out in terms of user growth. We need to break out of our comfort zone. We need to help people get into it. That btctipping dude? He has the right idea, except, it does kinda feel like he's promoting his own website? I dunno? Anyway, Changetip some newbies. Just the other day in the reddit lounge I tipped a guy a coffee, and he then said "Man that was evil, now I have to spend the next hour learning all about bitcoin"... who knows, maybe his sentiment that the media helped paint is one shade lighter now just from a a couple millibit tip. You can do that too, and I'm here to help you get started. I've got some millibits to give away, give me some awesome feedback, criticism or build your own thoughts on this thread. I tip you, then you go pay it forward. Lets do this!!!
submitted by googlemaster1 to Bitcoin [link] [comments]

Coinpot/EoBot Strategy

I've been trying to find an effective way to profit from small amounts of cryptocurrencies. I am a student and as such, don't have a lot of extra money to throw around and get into cryptos. I assume there many people who are just like me, want in but simply can't afford it. To that end, I began digging.
I watched a lot of videos, read numerous posts and web pages and got bogged down in useless information. There was a lot of do this or that and you will find it easy to get into. Obviously most of it was just talk, or worse someone trying to make a quick buck off of someone else.
Then I stumbled onto a video on YouTube. It was a way of using faucets and eobot to begin building enough to truly work with, without it taking years. The idea was solid, but I tweaked it a little so it could easily work for me and others.
Basically, I use the faucets connected to coinpot. I have found 5 so far. 3 for bitcoin, 1 for litecoin, 1 for doge and one for dash.
bonusbitcoin http://bonusbitcoin.co/?ref=59471E47569E
bitfun http://bitfun.co/?ref=98A930B3CDF7
moonbit http://moonbit.co.in/?ref=b394c805326c
moonlite http://moonliteco.in/?ref=b8aa0daa2e20
moondoge http://moondoge.co.in/?ref=f212df0fae11
moondash http://moondash.co.in/?ref=84DCF8C99A9A
eobot https://www.eobot.com/new.aspx?referid=910461
Make sure you use the same email for all of them; this is important.
The trick is, use the first one (bonus bitcoin) every 15 minutes. Under the claim button there is a link that says "change your claim settings". Check the box that says "always receive the average claim amount". If you do this, you won't get the 5000 but you will also get more that 45.
As for the other 4, those build over time. But the longer you wait the slower it adds up. So I check those every 30 minutes.
However, the moon faucets you can claim every 5 minutes and bit fun you can claim every 3.
If I keep to this scheduled, I make 13,000 satoshi everyday. Then I send it to eobot. (there is a 1000 satoshi fee for withdraws under 50,000 satoshi.)
It can take up to 48 hours to transfer, but once it does I exchange the satoshis for Cloud SHA-256 4.0 24 HOUR RENTAL. Mine your GHS.
Every 2 days or so (depending on bonuses) you can withdraw your litoshi and doge. On days that all 3 hit my eobot account at roughly the same time, I convert everything over to the same currency (usually doge) and buy the 24 hour rental.
Eobot also has its own faucet. Whatever you are mining when you claim it, is what it pays out. You will also get 1 doge everyday you log in.
I have also put some of my earnings into cloud folding and cloud seti. These also work like a mining tool, though they only pay in cure coin and gridcoin. Both of which I can exchange for different coins, invest in GHS or simply let build.
Well that's about the gist of it. If anyone has any questions feel free to ask.
submitted by Katrina4700 to bitcoinreferrals [link] [comments]

Bitcoin attempted newcomer questions

I've looked into bitcoins multiple times now, but was always stopped from really getting into it. First time was shortly after the creation of Litecoin, I believe. I would have tried to mine if GPU mining wasn't already such a huge thing back then.
My bank just increased its fees again so I will try even harder to actually get some bitcoins this time around.
Acquiring
I'm trying to get about 1 BTC and am perfectly willing to pay for it, but want all (or most) of the niceties that mining this BTC would have granted me.
Getting started
I couldn't find a whole lot of information about the very first step on getting bitcoins. There's lots of talk about making an account on this site or that site but having your private key stored with them defeats the purpose of using a cryptocurrency in the first place, doesn't it?
(Or worse, download this program or that program that doesn't give its source.)
So my first question is:
How do I even create a wallet?
I cloned the Bitcoin Core repository. I don't want to inspect this massive thing just to make sure its doing what it claims to be doing.
(And is bitcoin-qt bundled into this thing? A GUI would be something really odd to include.)
But then I found this article
http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/ 
I used a more secure random number generator. Does this make my result
1NLkXRHSFhFs6nkLLnQe2zxLE6JFKCcg2D 
a valid bitcoin address? Can I receive coins there now? I did the whole without even connecting to the network.
Although according to that article spending will be a huge pain.
Buying
This looks like its pretty much impossible without taking some serious risks. There are quite a few centralized exchanges that needs a lot of personal information. Even the "Bitcoin ATMs" need a lot of information I don't want to give.
Not to mention a lot of these exchanges seem to encourage you to keep your money and bitcoins in their accounts. Any one actually makes all purchases deposit to an address you designate?
LocalBitcoin is a bit better, but I'd rather not risk my skin, even a little bit.
How can I buy bitcoins with a "mining level" of security and pseudonymity?
I'm perfectly aware that connecting to the network gives away some information already.
Faucets
Are there any good ones? Looks like they are really slow, full of ads and possibly scammy.
Sellng or working for it
Not as efficient, but if I can sell something digital or work to make something digital, that would work. All the job site/subreddits aren't too active so it'd be quite a bit of a wait before finding something decent.
Getting information
Where can I find information about bitcoin on pre-established websites?
I mean a public website that's used for other things like Reddit, Youtube, Imgur, Github, Pastebin, etc? How much can I learn by visiting only these sites?
Even the FAQ here sometimes links to an external website like bitcoin.org. Not that they are bad sites or anything. I just want to know how much can be done without relying on them.
What about querying information like historic market prices?
Protocol stability
While a 50%+1 hashpower attack seem unlikely, a supermajority vote looks possible. Doesn't this centralize most of the control on bitcoin in the hands of whoever controls the repositories to the most widespread clients?
In particular, doesn't this make any part of the bitcoin protocol by design that's meant to activate in the future (like halved rewards) up to "discussion/community vote"?
This is importantly because I'm likely not going to do much with the newly acquired bitcoins for a while.
More
I've going lots more questions but let's see if I can get some insight here first.
EDIT: I wanted to thank everyone for their help and info. This is a quick update: I played around with the tips received. For the moment, making addresses by hand works and building a raw transaction and sending it through the network also worked. So at least this means the private/public key pair I made were good.
I'm looking at all the buying options from the new suggestions here one by one. From best to worst. Choice #1 doesn't seem available.
submitted by itbeetsme to Bitcoin [link] [comments]

[megapost] NYANdeas

We've come a long ways and I'm at a point where I've decided I'm going to really pursue this with everything I've got in terms of energy and devotion. I've got a prior commitment hanging over my head towards the end of this month, but once I resolve that, I'm planning on spending a couple months really digging into NYAN and seeing what I can do. So far we've just chipped away at the edges, but already we've seen some pretty impressive results. Just a brief recap of our successes first and then I'll talk about my ideas.
We've gone from 1-3 satoshi to 10-30 satoshi prices. Not bad. We've got two new block explorers up in response to the previous one going down. We've got an irc channel and active community members both here and there. And we've got me, the crazy bastard who's locked up 25% of the available supply and is planning to do everything he can to build up NYAN to its proper greatness, and got tipnyan going and did a major giveaway with it. Oh, and we survived a dump of ~10% of the available supply quite comfortably. Probably other stuff I'm forgetting about right now.
So, what next? Well, a lot of stuff. This is just a huge dump of ideas for discussion and inspiration. It's not necessarily ordered, although I'll try to have it go roughly from simplest to most complex. These are by no means promises or guarantees. This is just stuff I think would be cool.
Some of this isn't a "implement this", it's more of a blog post prompt or general concept.
submitted by coinaday to nyancoins [link] [comments]

Top 5 Verge Faucets Top Bitcoin Faucets Guaranteed Paying 2018 Bitcoin Typer 2.5 - A Free Bitcoin Faucet Bot What is EsFaucets?  Free Bitcoin/Cryptocurrency  BtcNewz.com Bitcoin talk

So let’s talk about such things which are going increasing day by day and we are facing these scams and also we get into many scams again and again by mistake. Scam at Social Media. We see a number of posts on social media where scammers post that “invest $100 and get $110 or $200 or maybe high”, these are actually those people who got trust by having a Facebook group or another social ... This is a Bitcoin Faucet that is as simple as it gets. It’s a white page, with black text. Hit the captcha and enter your bitcoin wallet, and see what random number of “Satoshi’s” (a bitcoin’s micro denomination) you get out of it for free. A countdown timer springs up that forces you to wait before hitting the submit button again. Pictured: The most basebones faucet you can get. The ... Bitcoin for Beginners is a subreddit for new users to ask Bitcoin related questions. **Do not respond to strangers direct messaging you, as over 99% of these people are Scammers.** This subreddit allows open discussion where peer review occurs. /r/BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, concern trolling, blog articles, or promoting altcoins and ... It’s like Bitcoin faucet. The offers include four tiers that allow you to earn Bitcoin: • Tier 1. 100% match, max $100/1 Bitcoin unit plus 180 deposit free spins for 9 days, with 20 spins BitStarz per day. • Tier 2. 50% match, max $100/1 Bitcoin unit. • Tier 3. 50% match, max $200/2 Bitcoin units. • Tier 4. 100% match, max $100/1 Bitcoin unit. For these BitStarz bonuses, the Bitcoin ... Sep 28, 2017 - Earn Free Bitcoin. See more ideas about Bitcoin, Bitcoin faucet, Free.

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Top 5 Verge Faucets

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