Home - Glory Mining

CPS (capricoin) to be the new king in defi!

CPS (capricoin) to be the new king in defi!

https://preview.redd.it/7ocji9v25ih51.jpg?width=732&format=pjpg&auto=webp&s=2805c69e1a1668b9dea7dfcbd297e210a9a1ef5f
With the recent popularity of the concept of defi, token in Ethereum ecology has gradually become an important asset category in cryptocurrency. In terms of the total amount of tokens, issuance, transaction time and transparency of smart contracts, these passes have both the characteristics of blockchain and the advantages provided by Ethereum, especially when Ethereum 2.0 is about to emerge. Ethereum erc20 protocol realizes "everyone can issue money", while DEX realizes "everyone can pay money".

It is needless to say that the prospect of defi decentralized finance is open, transparent and low threshold, which will reshape all aspects of traditional economic formats, so it is also known as "finance from the future". According to debank data, on August 12, the total market value of defi exceeded US $12 billion, while on August 10, the market value of defi just exceeded 10 billion, an increase of $2 billion or 20% in two days. In addition, the lock-in value of the defi ecosystem reached $5.5 billion, a record high.

https://preview.redd.it/t08ec7nf4ih51.jpg?width=600&format=pjpg&auto=webp&s=9cb2ee8292862762d6d8b47fe726a3c41f2eb572
In the current defi ecosystem, the main projects are basically focused on the decentralized lending of cryptocurrency, decentralized exchanges and other businesses, and there are few integrated service agreements based on decentralized finance. CPS (capricoin) ecological economy is a decentralized, private and democratic economy. If we design in a decentralized way, we believe that many departments will be improved and more efficient. Transaction costs can be greatly reduced, and the activities on the platform are more economical, more private and safer. In addition, the platform's defense against attacks is greatly improved. If you want to prevent attacks, you can shut down the network. CPS (capricoin) should break the Convention and become the breaker and leader of decentralized financial integration service agreement.

https://preview.redd.it/606kv77m4ih51.png?width=2111&format=png&auto=webp&s=31c4285984aab73c7a149084667e8c229509d8a0

CPS (capricoin) is the world's first distributed finance protocol based on blockchain, initiated by anonymous geek community. CPS is its token. Following bitcoin's steps, CPS (capricoin) advocates open source policy. Open source projects have a positive impact on sustainability because they support the principles of open communication, collaborative participation, peer review, rapid prototyping, transparency, elite management and community oriented development. It is these facilities that enable users and programmers to check, modify and consolidate the source code, and finally create it.
CPS (capricoin) will fully expand the target of defi and develop a new generation of decentralized digital finance technology. Based on the CPS (capricoin) ecology, we will create a decentralized financial aggregation platform, so as to help users achieve a full range of financial activities in the field of digital money and finance, and provide including but not limited to mining, lending, ABS, quantification, derivatives and other financial service agreements. By using smart contract and Oracle technology, CPS (Capricorn) distributed financial protocol has the advantages of faster transaction speed, higher security, lower threshold of participation and stronger decentralization attribute.

https://preview.redd.it/cmoc7x5q4ih51.png?width=1411&format=png&auto=webp&s=835ca495b0db56cb0af50fb6c50dc34944c2c425
In the future, CPS (capricoin) will make full use of and give full play to the advantages of blockchain decentralization, create a credit system that cannot be built by traditional financial system, expand the ecosystem of CPS (capricoin), and help more users with financial needs obtain more convenient financial services.

Not only defi, the ambition of CPS (capricoin) is to build a specific financial system, so as to combine the current digital currency with modern finance, establish a set of decentralized financial rules, and establish a communication channel between the existing physical finance and digital money finance.

https://preview.redd.it/59b67ohy4ih51.png?width=1418&format=png&auto=webp&s=80037177963f409e4490f9ed5d7bb62a239c6823
CPS (capricoin) believes that by establishing a complete set of autonomous financial system, realizing faster function iteration and upgrading with blockchain technology more in line with the future trend, and promoting more mature application and public chain development path, a new ecological transformation of decentralized finance is coming.
submitted by caipricoin to u/caipricoin [link] [comments]

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

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

Binance

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

Binance Weaknesses

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

Binance Wrap Up

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

Coinbase

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

Coinbase Strengths

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

Coinbase Weaknesses

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

Coinbase Wrap Up

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

Honorable Mentions

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

Wrap Up

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

Interview With Eddie Jiang: How CoinEx Is Adapting To The Exchange Space And Growing

Interview With Eddie Jiang: How CoinEx Is Adapting To The Exchange Space And Growing
Written by chaintalk.tv
https://preview.redd.it/v238540taz751.jpg?width=1280&format=pjpg&auto=webp&s=2a852e171a74e49da802d7c12fadba452cf4cf43
We recently had the opportunity to interview the VP of ViaBTC Group, Eddie Jiang. ViaBTC Group owns popular crypto exchange CoinEx and ViaBTC Pool. In this interview Eddie discusses being the first exchange to use BCH as the base currency, ViaBTC Pool and integrating with CoinEx, new features and ambassador program, and competing with other exchanges like Binance and Huobi. Please enjoy the interview below.
How come you decided to open up CoinEx to other cryptos other than just BCH?
Eddie Jiang: CoinEx is the world’s first exchange to implement Bitcoin Cash as a base currency. At that time, it was evident that there was a demand for BCH trading markets, and we are the first to explore this opportunity. It also shows our determination to support the BCH’s development.
As CoinEx is developing, our goal becomes bigger and we are aiming at the global market. We need to constantly improve our product diversification to meet the different needs of more users, so we open up to other cryptos. In the past six months, we have listed more than 50 new tokens. Up to now, we have listed 129 cryptos and 313 markets. Besides, in addition to spot trading, CoinEx also supports perpetual contract and other derivatives trading.
How does CoinEx integrate with the ViaBTC Pool?
Eddie Jiang: ViaBTC Group announced a strategic upgrade, which included a new organizational structure, product innovations and service improvements, on 30 May.
As part of the change, the Group has established three dedicated business units (BU): the financial services BU, consisting of ViaBTC mining pool and CoinEx exchange; the infrastructure services BU, including ViaWallet and Blockchain Explorer; and the ecological development BU, focusing on the research and development of public chain technology and the construction of the ecology.
After halving, the combination of mining and finance will become closer and closer. Investing in mining machines is like buying a Bitcoin option. Miners need more flexible financial products to maintain and increase the value of assets, or hedging services. Based on this judgment, the operations of ViaBTC mining pool and CoinEx exchange will be integrated in the future to realize the financial empowerment of the mining pool to meet the diverse financial needs of miners.
Features of this integrated product upgrade can be summarized as: “ The mining pool is the wallet, and the wallet is the transaction.” ViaBTC is the world first mining pool that has a wallet embedded in the mining pool account. Users do not need to transfer the mined coins, and can realize the function of coin exchange within the wallet. For example, they can directly convert the mined coins into USDT to pay electricity bill. What’s more, users can store, deposit and withdraw their revenue, and transfer assets to CoinEx at any time without charge, as well as complete other operations on the exchange, such as purchasing wealth management products for asset preservation and appreciation. In addition, we also provide hedging services. All of the above functions can be completed in one stop in the mining pool, without the need to transfer assets between different platforms.
The exchange empowers the mining pool, and the mining pool will further bring more traffic and resources to the exchange. The two complement each other and development coordinately.
CoinEx has recently added many new features. Can you talk about what new updates were made to the platform and why you made them?
Eddie Jiang: We have always attached great importance to the development of overseas markets since our establishment, and one of our major goals this year is to cover at least 10 different languages speaking markets.
To realize this and to meet the needs of more users worldwide, CoinEx has been continuously optimizing and upgrading its operating strategies, products and services. Our product diversifications are constantly improving. As I said before, we have launched leverage trading, perpetual contract trading, and wealth management products in addition to just spot trading. However, we don’t ignore the importance of spot trading. More mainstream, popular, and high-quality tokens have been listed, and up to now, there are 129 tokens and 313 trading pairs on CoinEx.
During the epidemic, we have never slowed down our development. Lacking of the OTC service has always been a shortage for CoinEx. In March, we partner with Simplex to integrate the first fiat onramp to our platform. People now can buy crypto with their credit cards, which lowers the threshold for more people to enter the crypto world. Moreover, we announced global strategic partnership with Matrixport to provide people with large amount of fiat to crypto needs the OTC service. These newly launched services also help to attract more users.
At the same time, CoinEx has been launched in Arabic, Italian, English, Japanese, Russian, Korean and other 16 languages. Earlier we also carried out product upgrades, making the UI and function sections clearer.
In terms of operations, we launched an upgraded CoinEx Ambassador program in March. To best utilize each ambassador’s personal strengths, there are four categories of CoinEx Ambassador with different responsibilities, namely Referral Ambassador, Marketing Ambassador, Operation Ambassador, and Business Ambassador, which will expand our brand’s exposure and help CoinEx grow into a more international exchange platform.
From March until now CoinEx has seen a 100% increase in user registrations. Why is that and are you able to see where they are coming from?
Eddie Jiang: Because of the efforts mentioned above, in 2020, we’ve seen an exponential increase in activity in just the past few months alone. In this year alone, CoinEx’s daily registered users increased by 100%. These new users mainly come from markets such as the Middle East, Asia Pacific, and more.
Interestingly, we saw an uptick in traffic from the Middle East in March. User growth in Southeast Asia also picked up significantly, newly registered users increased by 133.6% in April.
With Binance, BitMex, Huobi, Bybit, and Deribit, controlling most of the crypto futures and options markets, where do you see CoinEx fitting in? How do you plan to capture market share from these large exchanges?
Eddie Jiang: We won’t compete with others. We focus on ourselves to improve products and our goal is to be better than yesterday.
Our pace is solid and steady, instead of focusing on temporary heat and flow. We have always attached great importance of spot trading, and we are committed to be responsible for users’ investment. We have set up CoinEx Institution, which is dedicated on project research. A listing committee consist of core team members review and vote on projects recommended by the CoinEx Institution. In this way, fraud projects are avoided as much as possible.
Besides, we will focus on niche areas with great potential. For example, Southeast Asia and the Middle East. CoinEx can serve users in those countries well by providing a platform with rich cryptos to trade, and will pay more efforts on refined operations in different countries.
Moreover, CoinEx has a very complete ecosystem. Financial services, infrastructure, and ecological development, the three business units complement each other. The infrastructure BU is our cornerstone and is positioned as a defensive product; the financial service BU is a cash cow and is positioned as an aggressive product; the ecological development BU focuses on the public chain ecology and is the future infrastructure.
What is the geographical breakdown of the CoinEx userbase?
Eddie Jiang: The current proportion of CoinEx’s overseas users has reached 80% of the total registered users, and mainly in Australia, Southeast Asia, North America, Middle East and South Korea.
Do you have plans to focus on any certain jurisdictions? How will you do that?
Eddie Jiang: When we evaluate regions, two things matter: policy and potential.
Whether an exchange’s business expansion in a region is smooth or not largely depends on the region’s policies. If the region is not very friendly towards cryptocurrency or has repeated attitudes, there will be more difficulties and the cost will be much higher.
For a region’s development potential, we need to think about the demand and market development status. South Korea, Southeast Asia, the Middle East and other regions are all areas with good potential for cryptocurrency development. Compared with Europe and America, policy risks in these countries are lower, and the supervision mechanism is relatively complete. The public has a high degree of awareness of cryptocurrencies. Besides, some regions or countries have inflation problems due to political and economic reasons.
CoinEx will continue to focus on the Middle East and South Asia, which are relatively niche. India has just lifted ban on cryptocurrency trading this year, and there are many cryptocurrency investors in Indian. CoinEx can serve them well by providing a platform with rich cryptos to trade. More people in the Middle East are interested cryptos, especially in countries that are subject to economic sanctions or high inflation. For those people, cryptocurrencies are one of the best choices for asset preservation.
Since the CoinEx Ambassador program launched in March, it has been almost three months. We are conducting the second round of ambassador recruitment. This time, we will use the power of ambassadors to expand our recruitment coverage and strive to attract more crypto enthusiasts from all over the world to grow together with CoinEx. Moreover, we will launch the National Expansion plan and leverage on the CoinEx and ViaBTC mining pool resources, to further explore the Russian market. At the market level, we will make more PR efforts in local markets, and start refined operations.
What is CoinEx Chain and CoinEx DEX?
Eddie Jiang: CoinEx Chain is a public chain built on the Tendermint consensus protocol and the Cosmos SDK. It consists of three dedicated public chains parallel to each other. Among these three chains, CoinEx DEX meets the most basic needs of DeFi for token issuance, transfer, and transactions. The Smart Chain is designed to meet the needs of complex financial scenarios and delivers programmable cash. The Privacy Chain facilitates privacy and security.
On November 11, 2019, we took the lead in launching the Mainnet of CoinEx DEX. CoinEx DEX is the world’s first public chain dedicated to decentralized transactions. Users can easily manage their digital assets on it.
CoinEx DEX can fully satisfy the following conditions: users have private keys at their own disposal; transfers and transactions are all completed on-chain, which is 200% transparent and checkable; the issuance, transfer, and transaction of tokens do not require review or permission; the community governance and operation is decentralized, similar to EOS, and validators are introduced to the community ecosystem construction and governance. There are currently 41 validators.
It also has extreme performance. TPS reaches as high as 10,000 and transactions are confirmed within seconds. The transaction fee, 0.0001 US dollars for each transaction, is negligible.
Third, it’s simple and easy to use. The new operation interface design helps beginners get started quickly; with the one-click token issuing module, users only need to fill in a few items to issue tokens; the built-in automated market-making module guarantees liquidity.
How will CoinEx DEX improve the decentralized exchange space that has been unable to gain much adoption?
Eddie Jiang: There are many challenges and difficulties facing centralized exchanges. The first difficulty is security. Security is a huge concern for CEXs. Over the last 10 years, hackers have stolen more than $1.5 billion from centralized exchanges. In fact, research groups estimate that hackers stole somewhere between $950 Million and $1 Billion from centralized exchanges in 2018 alone. There were also incidents of coin thefts in other exchanges in 2019. Many exchanges, such as Mt. Gox, Youbit, were forced to file for bankruptcy and shut down as a result of hacks.
The second is high management costs. Centralized exchanges need to list a large number of cryptocurrencies and each of them have different trading pairs. That entails huge efforts in development and maintenance and, thus, high management costs.
The last is global policies. Cryptocurrency is faced with different regulatory policies in different countries. Every time a centralized exchange enters a country, it needs to adapt itself to local regulatory policies for compliance. This is a holdback for the exchange’s rapid market expansion globally. Such adaptation will also bring a huge learning cost for the exchange team.
Obviously, these problems can be well solved by DEX. CoinEx DEX is a true DEX with full open source and full community governance, as well as without depending on official nodes, websites, wallets, etc. On DEX, users are able to in charge of their own private keys and assets all by themselves. Their assets are more safe and secure. Transfers and transactions are all completed on-chain, which is 200% transparent and checkable; and the issuance, transfer, and transaction of tokens do not require review or permission. What’s more, CoinEx DEX provides a great and convenient user experience.
How will CoinEx Chain and DEX help the crypto industry as a whole?
Eddie Jiang: The public chain is the cornerstone of the blockchain industry. CoinEx Chain has the parallelism of multiple dedicated public chains, each of which performs its own functions, by cross-chaining for both high performance and flexibility.
CoinEx Chain is committed to building the next generation of blockchain financial infrastructure. It is a more complete ecosystem built around the DEX public chain. The DEX public chain is a dedicated public chain developed specifically for token issuance and trading and the biggest improvement on trading speed, so it only supports the necessary functions, not smart contracts.
But smart contracts are the foundation for building more complex financial applications. Outside the DEX public chain, CoinEx Chain also includes a Smart Chain that supports smart contracts.
Moreover, as privacy issues on the current blockchain have been criticized, it is one of the core tasks of CoinEx Chain to safeguard users’ privacy. Similar to the Smart Chain, the Privacy Chain specifically supports transaction privacy protection. With cross-chain circulation, it can improve the privacy characteristic of the entire CoinEx Chain ecosystem.
Nowadays, 1.7 million people in the world have no bank accounts; however, among them, two thirds are smartphone users with huge demands for financial services. The public chain will empower DeFi applications’ development and popularization, not only help more companies to seize the huge market opportunity, but also to bring lasting transformations and improvements in people’s lives.
With so many crypto exchanges, what is the future outlook of CoinEx when it comes to the crypto exchange space?
Eddie Jiang: It has been nearly 3 years since CoinEx has been launched, but it’s quite young for an entrepreneurial team. We have seen too many projects’ failures due to governance issues. CoinEx has a very elite team with high technical and management capabilities. In terms of business, CoinEx has gradually developed with diversified business and a complete ecosystem. It’s clear that the market will still grow very fast in the future, and the market size is still very large. We will continue to improve our products, put more efforts in marketing and operations, as well as look for more high-quality projects, to increase the number of users and transactions on the platform. Lay a solid foundation, and I’m sure the time will come for us to shine.
What updates is the CoinEx team most excited for?
Eddie Jiang: We are very excited about the National Expansion Plan which will be launched later this year. It is an important part in CoinEx’s globalization strategy. We will actively explore some new markets while consolidate the original ones. CoinEx will set aside 10 million US dollars to set up a “Pioneer Fund” to support this plan. This fund will be used to support local cryptocurrency projects and promote the development of the local cryptocurrency communities through investment or cooperation. Our goal this year is to invest in projects and communities that are conducive to expanding the CoinEx ecosystem in countries with high development potential.
Original article
Click HERE to register on CoinEx
submitted by CoinExcom to btc [link] [comments]

Urgent Advice Needed - Issues Refunding Money to a Client, Possible Money Laundering?

Hey everyone, so buckle up, this is a story.
I'm a freelance translator with my name and contact info out on several sites to connect translators to clients. So, when I got an email from my customer, L, I didn't think anything of it when she asked me to translate a research paper from German to English. Prior to even opening the document she sent me, I told her I wanted a contract signed - nothing major, just run of the mill stuff. You know, to make sure both of us were protected.
It entailed a 50% deposit for me (this paper was 46 pages and I have a policy that past X amount of words, I need a deposit for any time spent on a project. It's non-refundable, so I get paid even if the project gets canceled). She refused both of those things.
Like most people, I'm in a pretty tough spot right now. I knew I shouldn't have even continued speaking with her, but with my fee agreed upon, I was looking at almost $10,000 for the entire projected when all three phases were complete.
After refusing to sign a contract and agree to a deposit, she told me, and this is a direct quote "the money will be our contract". I was willing to operate on good faith, so I told her I'd get to work when the payment processed.
The amount we agreed on for Phase One was 1150.00, but she sent me - via her "sponsor", some random account in Arizona, even though she claims to be overseas - 7,176.00.
There was no warning, no notice telling me that they were sending me more than we agreed, or that the payment would be coming from Arizona. I contacted L and asked for clarification. She told me it was for payment for the next 2 phases due to start in the fall. I accepted that and kept working.
I finished the project 2 weeks before it was due and sent her the final document. Two days later, she sends at email telling me that the final 2 phases have been postponed and she needs the extra 6 grand or so back, asap.
Well, things happen, whatever. So I asked her how she wanted it returned to her.
This is where shit gets weird.
First, she tells me she wants it done via Zelle, which is connected directly to my bank. She sends me a contact and asks for all of the money to be sent at once. I tell her that since it's a new recipient, I can only send $500 and there's monthly limits on my account as to how much I can send in a 30 day period.
Now, her name is Lara, that's the only person I've been talking to directly. But the name on the Zelle account was Caldon H. I thought that was the name of her sponsor.
She proceeds to ignore my telling her about sending limits and demands a refund. I explain to her again, with screenshots from my banking app backing me up, that I'm limited by sending limits. I tell her that I'll repay her in $500 installments until all the surplus funds are returned.
Not fast enough. She then demands I use Cashapp. Oiy. This was a mess. I did reading and research on the app, since I'd never heard of it before and was alarmed to say the least. But she was sending text after text, email after email demanding a status update. She sends me another account to transfer the money to:
Linda. So, so far we have Lara, Caldon, Linda. Keep count of those names.
I ask who Linda is, no answer, just more demands. Cashapp, true to fashion, fails. I'm unable to add so much as a dollar to my account to send "Linda" and while I wrestle with this and try and find support to contact - HAH - I get payment requests via Cashapp and yet more emails and texts from Lara.
I explain to Lara, once again with screenshots showing that the app isn't working despite my linking both my debit card and checking account to it. She ignores that. Linda sends more payment requests.
I tell her, hey this isn't working. What about Venmo? Paypal? She ignores that and demands wire transfer. She sends account info for someone named Mark. I ask who Mark is, no response. I attempt to send the wire transfer via my banking website and the bank legit tells me that that account does not accept wire transfers. What...
So, more screenshots and then I ask her to double check account and routing numbers. She gets back to me with "the information is correct. Be patient when entering numbers." As if it's my fault.
So I try it again and it fails, again. After that I contact my bank directly and speak with their support line. We do the whole song and dance and they tell me that everything is kosher on my end, but the issue lies with the information I was given, confirming my suspicions.
I send her another email explaining everything, that I'd spoken directly with bank support. She tells me, once again, that the fault is mine and to just go to the post office and get money orders in $1000.00 amounts, leaving the recipient blank...
Yeah you read that right. Leave it blank. Overnight it via Fedex to some guy named James, in Georgia.
Arizona, Georgia, Germany. James, Caldon, Linda, Matthew, Lara.
I tell her point blank, I can't go to the post office. I'm in Idaho and COVID cases are skyrocketing. I'm high risk, so is my partner and one of my two roommates. Like, die for sure, high risk.
I try a wire transfer via Western Union instead. At this point, this has been going on for a week. I've been getting 4am texts and 6am phone calls for a week. She's on me for about 10-12 hours a day.
I'm a full-time student on top of this, with one more semester of undergrad. But classes have taken a back seat so I can deal with this.
Western Union holds the transfer under review and tells me that it will take 6 business days to show up in James' account. I tell Lara and assume that we're on the final leg of this mess.
Surprise, WU cancels the wire transfer. I call support and they tell me it's issues with the account I'm sending money to. I tell Lara and she starts getting snappy.
We try wire transfers for the last time, this time to someone named Matthew Green, different Matthew than the first, in Dallas. It fails. I spend $60 trying to send them. My bank calls ME and says they're concerned about fraud. I tell them I'm trying to send money and confirm info I was given. Once again, everything is fine with me, but it's issues with the account Lara wants me to send money to. I tell her and once again she changes her track.
She demands, again, money orders, same rules as last time and I tell her no, again and explain why. She ignores that and tells me to do Cashapp, again. We spend an entire day with me telling that I'm not comfortable with Cashapp. It's not dependabe, it doesn't work. There's no support for me to contact if things go wrong - which of course it will - and she insists. She ignores my concerns and insists. I tell her, fine, but I want a written and signed statement from you that you are demanding this and that I'm not responsible if things get messed up and you never get the money.
She signs a statement and the I try again. Same issues. I tell that, in another long email.
By this point, it's been 2 weeks. I'm stressed, drained and tired of her weird behavior. I tell her that I've been understanding and patient with her. I've tried to help her fix her mistake of sending too much money too soon. That we never agreed on that much money and reminding her that SHE refused to sign a contact that would have protected us both.
I tell her, Paypal or Venmo. No cashapp, no wire transfers (which I'm out $60 trying to send fyi). Paypal or venmo. If she doesn't have an account, find someone that does.
She sends me a Paypal account url for someone named Micheal. A new name. I ask who Micheal is, who are these people? Why are they all over the US? She ignores that, demands the money. I try to send payments, but I can't send more than $5 to MIcheal at a time.
I tell Lara and she blames me. Says I'm not doing it right. I'm supposed to send payments in multiple transactions of varying amounts, small to large. "No Tracking info", whatever that means.
I tell her, look, I can't send you anything. Check your account info, I'm tired of this BS. She sends the same info again, nothing about her contacting support for once. I try again. It fails, same issues. I contact support myself and they tell me - - you guessed it, my account is solid. Hers is not. She is why the money isn't going through.
I tell her that and suggest Venmo. At this point, I can't think of anything else and I'm planning on contacting my bank to ask advice, but my last request for Venmo was made at 11:30pm MST. I'd been dealing with this since 8am MST. I was tired, done. I sent that email and screencaps and turned my phone off for the night.
I get up this morning, make my coffee and check my work email. I get an email form Lara saying that I'm the reason the payments are failing "once again" and "following my instructions, now. Send it via Venmo, no tracking info. Do it now."
I decide to be a sport one last time. I try Venmo. It fails.
I'm writing this post to ask for what other steps, legally, I need to take to protect myself. Once again, she didn't sign a contract. I've saved all emails and texts, and all of them show they we agreed on 1150.00 as payment for this job.
They show that I've tried to return the money to her over the course of 2 weeks. She refuses to let me speak to Coldon, Linda, Matthew Green, Matthew M, James (who she claims died yesterday), or Micheal Brown. She answers none of my questions. She sends aggressive emails and so many texts that I had to block her number on my phone.
I'm completely at a loss. The longer this goes on, the less legit it seems and I need some advice. I plan to speak to my bank today and ask if they can refund the money to the account that paid me. I can't get info on that account from Lara, no routing or account numbers. So my hopes are slim.
I have no idea if Lara has any legal recourse or ground to stand on, since she refused to sign a contract and all attempts to return the money to her have failed. As I said, I've saved all emails and texts showing that I tried to work with her.

Any ideas? Anything would help. I want this to be over and done with.

UPDATE: I contacted the fraud department at my bank, explained everything and they said that we see that you've attempted to return the money multiple times and none of it has worked. They said I have 2 more options:
"If they really want that money, offer to send a personal check. We'll start a research claim in the meantime and that will take up to 10 business days to either be resolved, or you will be contacted by a member of the Research Claims department."
I asked what my options are if they refuse a personal check and the banker said "Then you've done everything you can. Wait for the research claim to be resolved or to be contacted. You've done everything you can up to this point and we can see that clearly."
Lara has refused a personal check, demanding a cashier's check instead. I told her "My bank advised me to only send personal checks, not cashier's check. There must be a name and a legit address. I will not leave it blank."
She asked me to send it via bitcoin.
My reply: No. I have filed a research claim with the fraud department of my bank to get to the bottom of this. They will resolve it as they see fit.
That will be my last communication with her.
submitted by aeternamque to legaladvice [link] [comments]

CoinEx Token Rating Report by TokenInsight

CoinEx Token Rating Report by TokenInsight
Written by TokenInsight
Published by tokenin.cn

EXECUTIVE SUMMARY

Advantages

  1. The team’s overall technical background is good, and the CTO and CEO of the project have rich experience in related industries;
  2. The current business scope of CoinEx has been expanded, and the development of the public chain has a decisive role in promoting the development of the exchange business;
  3. The project operation information is transparent, and the development process is consistent with the road map;
  4. The unlocking schedule is clear, and the token held by the team will be unlocked continuously in the next five years;
  5. The project uses POS consensus mechanism. At present, it has been launched on the main network, and the block time is stable, between 2–3 seconds.

Challenges

  1. It is not clear enough yet whether the trichain operation planning can achieve the project’s development goals;
  2. There is limited information on implementation details about cross-chain and other related technologies, and the development status needs to be assessed based on the later project development disclosure information;
  3. The team currently hold a large share of the token, hence the distribution of tokens is relatively concentrated;
  4. There are few application scenarios for project tokens, and more ecosystem scenarios need to be developed;
  5. As a deflationary token, CET needs to be balanced by dealing with the contradiction between public chain users and token holders.

Outlook

The development of CoinEx Chain contributes to the future development of CoinEx’s centralized and decentralized exchanges; the concept of trichain operation simplifies the functions of each chain, improving their performance. At present, there are few exchanges working on the public chain, and no fierce competition has occurred.

Conclusion

Considering the status and development prospects of the project, TokenInsight gives CoinEx a rating of BB with a stable outlook.

1. Multidimensional evaluation


2. Project analysis

CoinEx (CoinEx Technology Limited) was established in December 2017 and is headquartered in Hong Kong, China. It is a sub-brand of the ViaBTC mining pool. At present, CoinEx’s business scope includes CoinEx exchange, CoinEx public chain, and CoinEx decentralized exchange. The current development focus of the CoinEx platform are public chain and exchange. The main purpose of the public chain is to build a decentralized exchange (DEX) infrastructure and an ecosystem around DEX.

CoinEx business structure,Source: CoinEx; TokenInsight

2.1 Introduction

“ CoinEx Chain uses the parallel operation of three chains which are DEX, Smart, and Privacy, as well as cross-chain technologies to create a rich decentralized exchange ecosystem and blockchain financial infrastructure.
The core of CoinEx’s early business was the exchange, consisted of two major categories which were spot and derivatives trading. Currently, there are 123 trading currencies online, covering 302 trading pairs. On June 28, 2019, CoinEx released the CoinEx Chain public chain white paper, aiming to build a decentralized trading system (CoinEx DEX) with community-based operations and transparent transaction rules, and providing user-controlled asset trading scenario by the highest technical standards in the industry; CoinEx Chain has become another development focus of CoinEx. CoinEx Token (CET), which was originally a native token of the CoinEx exchange, will also be developed mainly as a built-in token of the public chain.
CoinEx Chain is a public chain based on the Tendermint consensus protocol and Cosmos SDK, and it uses POS mechanism. CoinEx Chain plans to support 42 nodes when the project starts, and any entity in the ecosystem can participate in the validator’s campaign by staking CET. CoinEx Chain will use the new block reward and the transaction fee contained in the block as the reward for running the node.
CoinEx Chain has developed three public chains with different positioning and different functions in order to meet the needs of blockchain transactions for transaction performance, smart contracts, and privacy protection at the same time. They operate in parallel and collaborate with each other through cross-chain technology. At present, the block time of the public chain is between 2–3 seconds. According to the observation of TokenInsight, the block time is stable, but the number of transactions through the CoinEx public chain is still low at present, the number of transactions in 24 hours is about 30,000; The TPS on public chain disclosed by CoinEx can reach up to 1500 per second.
CoinEx Chain uses a trichain parallel model to build a more vibrant ecosystem around DEX. The three chains are DEX public chain, Smart public chain, and Privacy public chain, respectively responsible for decentralized transactions, smart contracts, and on-chain privacy protection.
CETs that need to participate in complex financial contracts can be transferred to the Smart public chain through the DEX public chain, then moved back to the DEX public chain after that. CET tokens that need to participate in token confusion can also be carried out through the privacy transaction of the Privacy public chain, and can eventually be returned to the DEX public chain. The three public chains are responsible for their respective duties, and they are interconnected through the cross-chain technology through the relay mechanism. In addition to ensuring their respective transaction processing speed and functional attributes, they can also jointly provide richer and safer functions, and synergistically constitute the CoinEx decentralized public chain ecosystem.
In addition, CoinEx Chain also supports any participant to issue new tokens on the chain and create new trading pairs for the issued tokens. CoinEx Chain guarantees the circulation of new tokens by establishing a trading pair between the new token and CET.

2.2 Component architecture

“ Tendermint Core and Cosmos SDK have improved the performance and operation capability of the blockchain. The SDK packaging reduces the consideration of non-related logic, hence reducing the development complexity.
CoinEx Chain is based on Tendermint Core and Cosmos SDK, both of which have brought a big boost to the development of CoinEx public chain performance. Cosmos-SDK will implement the application logic of the blockchain. Together with the Tendermint consensus engine, it implements the three-layer architecture of the CoinEx public chain: the application layer, the consensus layer, and the network layer.
Tendermint
Tendermint is based on the state machine replication technology and is suitable for blockchain ledger storage. It is a list of transactions making consensus with Byzantine fault tolerance, the transactions are executed in the same order, and eventually the same state is obtained. Tendermint can be used to build various distributed applications.
Cosmos SDK
Cosmos-SDK is a blockchain framework that supports the construction of multiple assets with a consensus mechanism of POS (Proof of Stake) or POA (Proof of Authority). The goal of the Cosmos SDK is to allow developers to easily build custom blockchains from 0, while enabling the interaction with other blockchains.
Cosmos-SDK is a blockchain framework that supports the construction of multiple assets with a consensus mechanism of POS (Proof of Stake) or POA (Proof of Authority). The goal of the Cosmos SDK is to allow developers to easily build custom blockchains from 0, while enabling the interaction with other blockchains. The blockchain development framework Cosmos SDK implements general functions such as account management, community governance, and staking in a modular form. Therefore, using the Cosmos SDK to build a public chain can simplify development procedures and facilitate operation. Tendermint is a fixed protocol in a partially synchronized environment, which can achieve throughput within a delay range of the network and each process itself. The CoinEx public chain is developed based on both, improving the performance and operability of the blockchain. The SDK packaging further reduces considerations of non-related logic and reduces the complexity of developers creating. The two components of Tendermint and Cosmos SDK are connected and interacted through the Application Blockchain Interface.
Cosmos SDK and Tendermint interworking structure,Source:CoinEx; TokenInsight

2.3 Project public chain planning

The development plan of the CoinEx public chain is to create a series of public chains with specific application directions, including:
  1. DEX public chain: solve the problems of lack of security and opacity that are widely criticized by centralized exchanges at present; aim to build a transparent, safe, and permission-free financial platform; restore the experience of central exchanges to the greatest extent;
  2. Smart public chain: a public chain that specifically supports smart contracts and provides a platform for building complex financial applications;
  3. Privacy public chain: mainly provides transaction amount, account balance, and information protection and the hiding of both parties to the transaction.
In order to achieve the performance of each specific application public chain, each public chain in the CoinEx public chain focuses on the development of a certain function. For example, in order to improve the transaction processing speed of the DEX public chain, the DEX public chain only supports the necessary functions and does not support smart contracts. To achieve the smart contract function support, cross-chain connection between the DEX public chain and the Smart public chain is required.

2.4 Operation analysis

“ The CoinEx platform publishes monthly ecosystem reports with high transparency; but the monthly reports are limited to contents about transactions and development, and lack progress in ecosystem and community construction, making them relatively simple.
2.4.1 Disclosure of ecosystem information
Operational risks have a direct impact on platform users. Whether platform operations are smooth and whether there is transparency are issues that platform users care about.
The CoinEx platform was established in 2017 and has around 3 years of development. It is also one of the platforms that has been developing for a long time in the exchange industry. It has obtained a digital currency trading license issued by the Estonian Financial Intelligence Unit (FIU), and the platform’s compliance is guaranteed to some degree.
The actual operation of the CoinEx platform will be displayed in the form of ecosystem monthly reports. The monthly report contains various types of content such as online currencies, new activities, plans for the next month, and ecosystem dynamics. It involves multiple business dimensions including the CoinEx exchange, CoinEx Public Chain, and CET token.

https://preview.redd.it/4mt0999ere551.png?width=631&format=png&auto=webp&s=cba27a7c90275f4c033bdd2445a72e6f294265e8
Snippet of a CoinEx ecosystem monthly report,Source: CoinEx; TokenInsight
2.4.2 Roadmap
CoinEx Chain released its development roadmap for the four quarters of 2020 in January 2020. The roadmap shows that CoinEx Chain will undergo major updates on smart contracts and DEX hard fork upgrades. The project roadmap is basically planned on a monthly basis, with a clear plan and a clear direction of development.
CoinEx Public Chain 2020 Development Roadmap,Source: CoinEx; TokenInsight
In addition to the development route planned in the roadmap, CoinEx public chain also discloses its goals for next month in its monthly ecological report. The project’s main net was launched online in November 2019. According to TokenInsight’s review of the development of CoinEx public chain from January to April and the disclosure of the project’s ecosystem monthly report, the project’s plan about development of the smart contract Demo in February failed to be completed as planned; the project completed launching of the new version of the blockchain browser and the Asian Atlantis upgrade; the smart contract virtual machine development was planned to be completed in April, but the progress related to supporting cross-chain agreements was not disclosed yet.
Overall, the project’s development route planning is clear, and the project’s development schedule is consistent with the plan, but there are still some discrepancies. Operation and development information is disclosed every month, and information transparency is high.

3. Industry & Competitors

The earliest origin of the exchange layout in the public chain field began in early 2018 when Binance released an announcement to start the development of the Binance Public Chain officially. In June of the same year, Huobi announced at its brand upgrade conference that it will combine the technical capabilities of the Huobi technical team and the community developers to develop the Huobi public chain called “Huobi Chain”. In December of the same year, OK Group announced the launch of its self-developed public chain OKchain, dedicating to provide underlying technical support and services for startups stationed in B-Labs.
The successful launch of the public chain brings huge strategic significance to the exchange, which can not only improve the performance of the existing business of the exchange but also achieve further expansion of its influence. As one of the most important blockchain infrastructures, the public chain can benefit the exchanges behind it.
As a platform for developing public chain technology exchanges, CoinEx’s main competitors in the field of public chain development include Binance, Huobi, and OKEx. Although they are all exchange platforms for deploying public chains, the above four are different in terms of specific functions, economic models, and critical points of the public chain.

3.1 Development progress comparison

In 2019, Binance became the first exchange to launch a public chain among all digital asset exchanges, and its main product is Binance exchange (DEX). In April 2020, Binance announced the launch of a second smart contract chain, using Ethereum’s virtual machine, so that developers can build decentralized applications without affecting the performance and functionality of their original chain.
OKEx launched OKChain’s testnet in February 2020 and completed open source two months later. OKChain is designed as the basis of large-scale blockchain-driven business applications, with the characteristics of source code decentralization, point-to-point, irreversibility, and efficient autonomy.
Huobi released Huobi Chain for the first time in July 2019, the code is open source, and the testnet was released in February 2020. As a “regulator-friendly financial blockchain”, Huobi Chain focuses on providing compliance services for companies and financial institutions.
The CoinEx public chain officially completed the main online launch in November 2019 and completed the new block browser’s launch in March 2020. On April 3, 2020, CoinEx DEX uploaded the underlying code to Github to achieve open source. The CoinEx public chain is more inclined to build a full DEX ecosystem to achieve a one-stop solution for issuing, listing, storing, and trading. The long-term goal is to create a blockchain financial infrastructure.

3.2 Comparison of economic models

At present, the exchange is more inclined to use its existing platform currency as the native token of the public chain in the construction of public chain ecology. CoinEx’s CET, Binance’s BNB, and Huobi’s HT all fall into this category. OKEx is the only exchange that issues new tokens for its OKChain, which means OKT is the only ‘inflation token’ in the exchange’s public chain, while CET, HT, and BNB are all deflationary.

3.3 Decentralization of public chain

The initial number of CoinEx public chain verification nodes is 42, which is currently the most decentralized among all exchange public chains, and able to take both efficiency and decentralization into account; OKChain also currently has a relatively high degree of decentralization in the exchange public chain (21 verification nodes), its nodes have a high degree of autonomy; by contrast, Binance still firmly controls the operation of nodes and transactions; In terms of encourages cooperation between regulators and the private financial aspects, Huobi provides a lesser degree of decentralization. Huobi Chain uses a variant of the DPoS consensus algorithm to provide functions such as “supervision nodes”, allowing regulators to become validators.
Comparison of some dimensions of CoinEx, Huobi, Binance and OKEx public chain,Source: TokenInsight

4. Token Economy

CoinEx Token (CET) is a native token of the CoinEx ecosystem. It was issued in January 2018. Token holders can enjoy some user value-added services within the ecosystem. Currently, it is mainly used as a native token on the CoinEx Chain. As of 11 am on April 23, 2020, the current circulation of CET tokens in the market is 3,215,354,906.31, with a total of 5,842,177,609.53. CET tokens will not be further issued or inflated. Currently, daily repurchase and quarterly destruction are carried out. The repurchase destruction dynamics can now be tracked real-time on the CET repurchase system on the platform.

4.1 Token Distribution

The CET token used to be based on the ERC-20 token developed by Ethereum. Since the CoinEx Chain mainnet was launched in November 2019, some ERC-20 CET tokens have been mapped to the mainnet CET, and the rest of the CET will be mapped before November 10, 2020. CET holders need to deposit ERC-20 CET to the COinEX exchange, and the exchange will conduct the main network mapping.
At present, CET is mainly circulated in the form of mainnet tokens, and only a small portion of ERC-20 CET has not been mapped. The distribution of token holdings currently circulating on the mainnet can be seen in the figure below. At present, the number of tokens held by the top ten holders accounts for about 60.44% of all mainnet CET tokens.
Distribution of CET token holding addresses,Source: Etherscan; TokenInsight
The following figure shows the initial distribution of tokens after the mainnet mapping preset by CoinEx. From the initial distribution map of CET, it shows that, after mapping, a large portion of CET remains concentrated in the hands of the team (31%), and the actual number of CET circulating in the market only accounts for 49% of the total.
The initial distribution of CET token,Source: CoinEx; TokenInsight
After the main net mapping, the 31% of the total CET (1.8 billion) held by the team will be gradually unlocked in the five years from 2020 to 2024, and 360 million CET will be unlocked each year. By 2024, the CET held by the team will be completely unlocked. From the current CET dynamics, the CET share held by some teams has been used for destruction purposes to achieve the purpose of CET austerity. If the frozen 1.8 billion CET held by the team are used for similar purposes, the development of CET and its platform can benefit from it.
Team’s CET unlocking plan,Source: CoinEx; TokenInsight

4.2 Token economic model

4.2.1 Deflation mechanism
Since the CET token went online in January 2018, CoinEx has increased the circulation of CET through airdrops, transaction fee refunds, operation promotion, and team unlocking. As one of the existing platform coins with long development time, the deflation mechanism of CET token has undergone a series of changes with the development of the industry. In 2018, when the concept of coin-based mining prevailed, CET used transaction mining, stake mining, and pending order mining, which were cancelled in October, December and, April respectively of the following year.
The repurchase and destruction model currently used by CET was updated by CoinEx on April 11, 2020. The original CET quarterly repurchase and destruction policy of the platform will be adjusted to daily repurchase and quarterly destruction. After the implementation of the daily repurchase policy, CoinEx will take out 50% of the daily fee income for CET repurchase in the secondary market and implement quarterly destruction until the total remaining circulation is 3 billion (currently about 5.8 billion).
At the same time that CoinEx updated the repurchase and destruction plan on April 11, the platform also launched a page dedicated to displaying CET repurchase information, so that users can clearly understand the progress of CET repurchase and destruction.
As of April 23, 2020, the platform has destroyed 4,157,822,390.46 CET tokens, accounting for 41.6% of the initial total issuance. At the end of January 2019, it had destroyed 4 billion CETs (single destruction volume peak) at the end of this quarter. The number of CETs to be destroyed is 3,422,983.56.
CET historical destruction data,Source: CoinEx; TokenInsight
4.2.2 Application scenarios
The current usage scenarios of CET are discounted platform transaction fees, VIP services, special activities rights and interests, CoinEx Chain internal circulation fuel, and use of external scenarios.
Deduction and discount of platform transaction fees
CoinEx platform users can use CET to deduct transaction fees when conducting transactions within the platform. At the same time, using CET to pay transaction fees can enjoy the exclusive preferential rates provided by the platform.
CET fee discount amount,Source:CoinEx; TokenInsight
VIP service
Holding a certain number of CETs can make a user become a platform VIP user. Users can also use CET to purchase platform VIPs to obtain corresponding privileges such as discounted rates, accelerated withdrawals, and exclusive customers.
Special activity rights
CET holders can enjoy special rights and interests in platform marketing activities, such as participating in the airdrop of tokens on the platform or accelerating opportunities for high-quality projects.
CoinEx Chain built-in token
CET will serve as a native token of CoinEx Chain, circulate and serve as fuel in CoinEx Chain, and users can also use CET to invest or trade other digital assets. In addition, CET can also serve as transaction fees and function fees (issuing Token, creating new trading pairs, account activation), etc. in the platform, and users can also participate in the campaign of validators by staking CET tokens.
CET is currently used as a circulation token as well for CoinEx DEX to issue tokens, create orders, Bancor, address activation, set address aliases, and other application scenarios.
In general, the types of application scenarios of CET are not plenty enough. In order to better develop the internal ecosystem of the platform, it is necessary to design and develop more CET usage scenarios and incentive mechanisms to increase the retention rate of users while adding new users.
4.2.3 Token incentive
As the native token of the CoinEx public chain, CET will be used as a block incentive to increase community participation after the mainnet of the public chain launched. The 315 million CET held by the foundation in the total CET issuance will be used to incentivize initial verification nodes and Staking participants.
CET annual incentive information,Source:CoinEx; TokenInsight

5. Team & Partners

5.1 Core team members

Among the core team members of CoinEx, the technical members account for a relatively large proportion. The technical team’s overall ability is good and the team members have different technical experience backgrounds including cryptography, underlying protocols, marketing, and operations. The team has rich blockchain industry experience, especially the chief developer, who has about 13 years of development industry experience.

https://preview.redd.it/kd0z9q0ese551.png?width=785&format=png&auto=webp&s=7beff33e522165202f6a0b75dba70f32630d8656
https://preview.redd.it/s2klsatese551.png?width=1024&format=png&auto=webp&s=57f03219007d853d754883e2e07cd5eb2c8ed17d
https://preview.redd.it/kuyspmkfse551.png?width=978&format=png&auto=webp&s=fd9c808107d245047f7c74ef34fcf6a02965152c

5.2 Investment institutions and partners

CoinEx’s investment is led by Bitmain and its main partners include Matrixport, Bitcoin.com, CoinBull, Consensus Lab, BTC.com, BTC.top, Hoo Exchange, Wa Yi, ChainFor.com, etc.
Investment institutions and major partners have rich experience in the industry, which can promote the development of projects to a certain extent. However, the current industry involved by the partners is not wide enough, and it will have a limited role in promoting the future of CoinEx’s enriching business lines and increasing ecosystem functions.
https://preview.redd.it/zjgzvv6ise551.png?width=533&format=png&auto=webp&s=a3f7fe3abb2c2d522e289213ae6fbc4e899825e0

6. Community Analysis

According to TokenInsight’s research of the CoinEx platform community, as of April 23, 2020, its official Twitter has 19,800 followers and 932 tweets; the official Telegram has 45 official groups, 3 in Chinese and English, and the other is Korean, Arabic, Vietnamese, Indian and other small language groups, with a total number of 56088 people; the current number of followers on Facebook accounts is 3,107. The overall community followers still have a lot of room for improvement, and community activeness needs to be improved.
Number of followers on the CoinEx social platform,Source:TokenInsight
At present, the project’s search popularity and official website visits are both top-notch, and monthly visits have slowly returned to their previous visit levels after experiencing a significant decline in December 2019.
CoinEx visit popularity,Source: TokenInsight, Similarweb, Google
At present, the visitors of the CoinEx website are distributed in multiple countries, and there are no visits concentration from a single country or region. Therefore, CoinEx’s comprehensive global influence is widely distributed and has a reasonable degree of internationalization.

CoinEx official website’s top 5 countries by number of visitors,Source: CoinEx, TokenInsight
Original article
Click here to register on CoinEx!
submitted by CoinExcom to btc [link] [comments]

Crypto-Powered: 10 Points that Highlight the Magic of DeFi

Crypto-Powered: 10 Points that Highlight the Magic of DeFi
Most financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain?
https://reddit.com/link/hvwzrq/video/2vwr3t2tofc51/player
This is the final post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Earlier in this series, we looked at some of the most promising DeFi use-cases already in the wild. We explored categories like lending, investment, insurance, stablecoins, payments, and more. And before that, we gave a primer on Bitcoin, Ethereum, and DeFi (decentralized finance).
So now that we’ve gone a little deeper down the crypto rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why does any of it matter?
Most of the financial services offered by DeFi protocols already exist in the real world. So why does it need to be decentralized or on a blockchain? What’s the big deal?
Today we go through 10 points that highlight the magic of DeFi, and why it matters. And hopefully, it becomes clear just how big of an unfair advantage this technology is for Genesis Block. It’s our superpower as we compete against big banks and fintech unicorns. Alright, let’s dive in!

1. Global Pipes & Bridges

In traditional finance, each country or region has its own currency, infrastructure, and regulations. With blockchain technology and more specifically DeFi, the world is instantly connected. These decentralized protocols serve as the pipes and plumbing that plug the different economies together.
The internet completely broke down the walls & borders for information and news. DeFi is doing the same thing, but now for money, commerce, and financial markets. We’re now part of a global, digital marketplace that can finally transact with each other— there’s a common set of rules and protocols that transcend cultures, languages, and borders.
Jack Dorsey recently shared his own bullish insights on this future.

2. Efficient Markets & Liquidity

While the crypto ecosystem is still small when compared to traditional financial markets, it is growing quickly. As participation continues to mature, it will unlock enormous liquidity in the global markets.
Imagine the possibilities for mostly illiquid markets like real estate, collectibles, or private company stock.
This creates new opportunities for people. Imagine a farmer in Mexico helping a young family in Florida buy their first home. Or a coal worker in China participating in micro-finance loans in Africa. With liquid markets, they can easily swap in and out of investments depending on their financial situations. They won’t have to worry about long periods of no liquidity — which traditionally only favored the wealthy.
https://preview.redd.it/l1fe8lgg8fc51.png?width=700&format=png&auto=webp&s=9b404c0f2c06916af51198a7e096cd2e4b5d067c
Additionally, more liquid markets lead to great efficiencies. Defi, like the internet before, reduces transaction costs to the bare minimum — just the tech/infrastructure costs. The high cost of participation is removed.
This new, unlocked liquidity will lead to a much more efficient, vibrant, and healthy global economy.

3. Earning Opportunities & Value Creation

Basic crypto allows you to move and store value. With many of these DeFi protocols, you can actually create and earn value. You can share in the upside and success of these new micro-economies by earning tokens for your contributions.
https://i.redd.it/t0e61g3l8fc51.gif
For example, with DeFi protocols like Maker or UMA, you can be rewarded for voting and participating in high-level protocol decisions. With Synthetix, Compound, and Uniswap you can be rewarded for providing liquidity to the network. With Cosmos or Tezos (and soon Ethereum), you can be rewarded for helping keep the network stable and secure.
These new decentralized protocols and the work required to grow and cultivate them can be incredible earning opportunities for people all over the world. Value isn’t just moving, it’s being created and growing. This is an entirely new paradigm for work and earning income.
It’s actually really incredible to think about.

4. Equal Access & Economic Freedom

Because DeFi protocols are decentralized and on a blockchain, there are no gatekeepers. No government or bank or corporation can censor these protocols. Everyone has equal access.
You can be a user who needs financial services. You can be an entrepreneur who has a great idea and decide to launch your own protocol. You can be a worker who wants to earn income by helping and contributing to these new micro-economies. All options are available. Nobody can stop you.
People all over the world — whether from a favela in Rio or living under oppression by an authoritarian regime — can participate in this new, digital, permissionless global economy. This creates more economic freedom, which changes the world.

5. Composability & Interoperability

Many of these DeFi protocols leverage other DeFi protocols. They are like lego pieces — you can mix, match, connect, combine… and create an entirely new, exciting thing! This is called composability and it’s one of DeFi’s greatest strengths.
As Genesis Block decides to add additional features (more financial services), it becomes much easier because most of these protocols are modular and integrate nicely.
https://preview.redd.it/1btq6wdn8fc51.png?width=800&format=png&auto=webp&s=a17da95746da9dcf9611e68c74e5b489c9b1e6b6

6. Regulatory Windows

While cryptocurrency like Bitcoin is starting to become more regulated in developed countries, many of these newer decentralized technologies have not, like DeFi (financial services built on smart contracts).
This technology is at the bleeding-edge of innovation. It’s a new frontier that is being explored and developed at an incredibly fast pace. As a result, most governments around the world have not yet fleshed out how or if it will be regulated. For many countries around the world with fewer resources and less-developed regulatory infrastructure, it would be dizzying to even try.
https://reddit.com/link/hvwzrq/video/mkr89t9y8fc51/player
This creates a unique window of opportunity for builders and entrepreneurs. They won’t get bogged down by some of the outdated laws that slow them down in legacy finance.
For updates on crypto regulation in the US, CoinCenter is a great resource. So far, US regulatory focus has just been on cryptocurrency or securities more generally.

7. Decentralized Governance

The companies behind top DeFi protocols like Compound and Maker have relinquished their power and turned it over to the community. The community of token holders are now in charge of proposing, approving, and voting for decisions and updates in the protocol. This is called decentralized governance.
Of course, not all protocols are truly decentralized in their management or governance. But this is a trend we’re seeing more and more of. This more democratic style of governance creates a system of checks and balances, hopefully leading to a more stable, secure, and resilient protocol.
There’s a great post recently from Jesse Walden where he describes this as The Ownership Economy.
https://preview.redd.it/7gwjwjfp8fc51.png?width=800&format=png&auto=webp&s=203e6ceb16ceb7461a3d2da373330964e820d97e

8. User Interface Flexibility

Because these protocols are low-level, there can be a variety of product experiences, interfaces, and designs built around them. It’s similar to interacting with web APIs, except these are smart contracts on a blockchain.
If you don’t like the design of an app that interacts with a specific protocol, you can build your own.

9. Transparency & Auditability

These protocols are on the blockchain for anyone to inspect, analyze, and review. This transparency can create more trust and confidence for users. Anyone can discover a bug or whistle-blow malfeasance.
In the real world, bank customers typically have no idea what’s happening under the hood. It’s a complete black hole. In DeFi, the code is open-source. You can verify it’s doing exactly what they say it is.

10. Autonomous & Open 24/7

While the developers can sometimes update the protocol or fix a bug, these decentralized applications are not managed day to day by a company or its employees. These smart contracts run independently and automatically on the blockchain — enforced by policies and rules written in the code. DeFi protocols aren’t closed on weekends or bank holidays.
Can you imagine a bank that was run by robots and open 24/7. That’s DeFi.
---
Hopefully, it’s becoming crystal clear that a crypto-native company — if it can substantially leverage these game-changing DeFi protocols — will win the consumer finance market. It will disrupt Wells Fargo, Goldman, and Bank of America. It will become the bank of the future.
Which crypto-native company is best positioned to win? Who can abstract away the complexity, deliver a world-class product experience, and take it to the world?
We obviously believe it’s us at Genesis Block. Time will tell.
I hope your imagination is running wild with possibilities like mine is. The potential of this tech is incredible. When you consider both the broad spectrum of financial use-cases that DeFi offers and the enormous value that is unlocked through these protocols (as outlined in today’s post), you can see just how big of an unfair advantage this is for Genesis Block.
As long as we’re building on this foundation, we’re out here playing 3d Chess while big banks & fintech companies are playing Checkers.
This is mic-drop weaponry. These are superpowers. This is what it means to be a digital bank that’s powered by blockchain technology and decentralized protocols. This is what it means to be crypto-powered.
https://preview.redd.it/qxohn09s8fc51.png?width=800&format=png&auto=webp&s=795f9fe6b6d82d29728b7f52da663214ce0831f0
------
Other Ways to Consume Today's Episode:
Follow our social channels: https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

A REVIEW ON LEASEHOLD DECENTRALIZED PLATFORM

A REVIEW ON LEASEHOLD DECENTRALIZED PLATFORM

https://preview.redd.it/myag8bgerrt41.jpg?width=2226&format=pjpg&auto=webp&s=f2770899309d92ca6acab5b1c5fdcc76f69778a2
INTRODUCTION
In the world today, there are many upcoming blockchain projects with great potentials, each aiming to bring a change to what we know and see in different systems be it in the healthcare industry, financial industry and so on. It is worthy to know that blockchain technology has contributed a lot to the development of many projects owing to its features such as decentralization, tokenization, use of smart contracts etc. Also, in addition to being based on blockchain, many platforms have different consensus algorithms which are believed by the team to help them in achieving their aim. With this being said, there is a blockchain platform known as LEASEHOLD, which aims to bring a change in the property industry.
https://preview.redd.it/a55t1e0drrt41.jpg?width=2048&format=pjpg&auto=webp&s=4ba13f6477ad66c90a2855688e63d60ddb30531d
A REVIEW ON LEASEHOLD PLATFORM
A review helps many potential investors have a feel or glance of what a particular project or platform is all about, before proceeding to read further via the project's whitepaper etc.
  1. The first and foremost thing to know about Leasehold platform is that it is decentralized that is to say, it is based on blockchain. Leasehold is also a profit-sharing business or platform with the sole purpose of sharing rental income via tokenization brought about by blockchain. In the same way, it is good to know that, the Leasehold platform aims to be a valuable one and to achieve this, sees it fit to ensure their token holders are always comfortable hence the idea of rewards being in the form of buy-back and burn; with this strategy, the Leasehold platform take the acquired profits, buys back its tokens from the market and burn them. In other ways, Leasehold token is a Deflationary token which will continue to be bought and burnt as the platform ensures strict growth policies are followed.
  2. Like earlier stated, there are many blockchain projects with different consensus algorithms such as Proof-of-Stake, Proof-of-Work etc, in the case of Leasehold, it will be based on Delegated Proof-of-Stake (DPOS). This DPOS is of the idea that delegates within the platform can create blocks, these delegates are trusted and as such selected to be active within the platform in addition to the fact they secure the chain while getting their rewards which is strictly based on a good performance.
  3. In the blockchain space today, there is a known issue with most platforms and that is the issue of slow transactions etc, thus to stand out from this, the Leasehold team ensured the platform is written in JavaScript, through this way, allowing for fast processing of all functions and services such as transactions, payments and accounting. Also, to ensure efficient services, the Leasehold platform was forked from Lisk, the aim of this is to run as the first Lisk Side-chain through this way having its own Decentralized Exchange (DEX) thereafter.
  4. Talking about a decentralized exchange, it offers more security because, in the crypto space, there are many exchanges that have been hacked, exit scam with funds as well as closing accounts without reason. Therefore, Leasehold will sure have its own because the team wants to offer a secure, safe, trustworthy and reliable platform for trading of LSH tokens. When trading in Leasehold platform's DEX, there will be no malicious acts but instead a good level of trust and transparency.
  5. Another point as to why Leasehold is worthwhile is the fact that it makes it possible for users to partake in profit-sharing without owning properties physically, nor is there a need to identify themselves. In view of this, Leasehold is working towards taking huge advantages of the tourist industry, everyday living industry etc since it has been proven that booking platforms grow with more than double the users from the previous years. With this move, as a user, there is an opportunity to profit by owning the property, while with Leasehold, everything is simplified leading to owning a portion of profits.
  6. Another wonderful attribute of Leasehold platform is that token holders are carried along in the development of the platform, in this case, they are always presented with updated happenings which includes buy-back details, acquisition of properties etc.
  7. Since security is paramount in Leasehold platform, the team created a hub, which will make it possible for token holders to securely store their tokens in their wallet. This wallet is connected directly to the Leasehold network.
  8. There are many projects already in the crypto space which supports mining and same is the case with Leasehold. Leasehold will have a real-time data pool bearing all the financials of the platform's earnings. It will also display a list of the current buy-back funds which will be used for buy-back and burn purposes.
  9. Currently, many people in the world are limited when it comes to using of cryptocurrencies and this is where tokenization comes to play; that is, with tokenization, many people in the world will be free and able to buy crypto easily. With this in mind, in the Leasehold platform is tokenization as well, with tokenization of LSH tokens, people from all over the world will be able to take part in profit-sharing from the Leasehold short term rental markets. This is profitable because a study has shown that, short term rental markets are now booming all over the world because there is no need putting up large amounts of capital at once, which many individuals do not have or have access to.
  10. There are two methods of property rental in Leasehold platform which is developed to accommodate different types of users; a. Property rental of non-owned apartments: This is a method where the Leasehold team will accept the responsibility of running apartments for homeowners which will be at an agreed amount. In this case, the team will use their marketing strategies and booking system methods to ensure the best of services is offered to homeowners while on the other hand, this will also help Leasehold to acquire constant funding for its buybacks. b. Property rental of owned properties: In this method, the Leasehold team will strive to achieve the maximum amount of returns since all profits will belong to the company at the same time distributed to the buybacks. Furthermore, from the profits made, Leasehold will continue buying property on the open market while renting it out using its specially designed cross-platform method.
  11. Just like there are blockchain platforms which sought for funding before continuing building their platform, same is with Leasehold. The team will carry out 5 stages of ITO’s with the aim of raising enough funding so as to acquire small apartments thus starting the renting process and partner site setups. According to the team, the reason for these stages of ITO is that each stage will allow the Leasehold platform to acquire and set up the working business model that will make the buy-back and burn process possible. The end result of this is, Leasehold will be in a position to be free from cryptocurrencies volatility as well as being far bear markets. Leasehold Initial Token Offering (ITO) has started already and stipulated to end by May 2020. Read more on (ITO). (It is wise to make your own research before investing or participating in any token sale.)
https://preview.redd.it/unoy270grrt41.jpg?width=2636&format=pjpg&auto=webp&s=39cd8c18290eadfe97d4588b3b06af816a2f372a
WHY LEASEHOLD IS WORTHY OF ATTENTION
a. The Leasehold team aims for success thus setting strict growth policies which will make it possible for the platform to always acquire more and more property in its life cycle.
b. By allowing ownership of profits to take place in the property rental industry, Leasehold succeeds in bringing liquidity. To make it more interesting, people can buy and sell the rights to profits without having to pay the unnecessary charges of Deed registration and property acquisition.
c. In the world today, the cryptocurrencies are gaining more attention which is seen in Airbnb now accepting Bitcoin, with this in mind, the Leasehold team believes that more platforms are likely to follow hence creating its very own booking system within the ecosystem that will allow users to book holidays with LSH token.
d. Leasehold platform is all about success and growth and with this in mind, the team has already 4 signed contracts for 4 separate apartments which started this month (April 15th). Not only that, but the team is also on the verge of signing more as time goes by.
e. Leasehold has many partners including; i. Booking.com. ii. Airbnb. iii. NightsBridge. iv. HouseME. v. HomeAway. vi. Bookme. vii. Airdna. Read more on partners.
f. For security sakes, and in order to stand out as well, Leasehold created its own wallet which is available and active on different operating systems such as Windows, Mac etc. Steps; i. Download your desired Leasehold Wallet application from the link. ii. Install. iii. Use the option "Create an account" to create an account. Most importantly, remember to save the passphrase, which will enable you as the owner to be able to access the wallet in the future. iv. Login to have a feel of what the wallet looks like.
g. Leasehold token has the ticker LSH, it was forked from Lisk as well as being the first "Lisk Side-chain off Lisk" with a total supply of 100,000,000. Owing to what Leasehold token is backed by, the tokens will be appropriate for trading, holding and booking apartments in the near future. In the same way, to be transparent as regards its buybacks, the necessary information will be available to the public in the form of e-mail and website updates, through this way, users will be able to keep track of the entire platform's Income.
h. Hardly can anyone invest in what he won't profit from; in the case of Leasehold, the team will use the funds generated for property acquisition this means that there will be a strong profitable business built by the team. With this move by the Leasehold team, token holders will grow together with the platform while profiting as well.
https://preview.redd.it/7fkcmlzgrrt41.jpg?width=1080&format=pjpg&auto=webp&s=c87f07488dc657828ec7da823a4e47b97244e512
TO KNOW MORE ABOUT LEASEHOLD
Join the Telegram Group: https://t.me/Leaseholdchat
Follow on Facebook: https://m.facebook.com/Leasehold-101658667937642/
Follow on Twitter: https://twitter.com/LeaseholdHQ
Website: https://leasehold.io/
Whitepaper: https://leasehold.io/roadmap/?q=whitepaper
Discord: https://discordapp.com/channels/634347439641591819/641699094959489065
GitHub: https://github.com/Leasehold
Wallet: https://leasehold.io/wallet
Explorer: https://explorer.leasehold.io/
Timeline: https://leasehold.io/timeline/
About the team: https://leasehold.io/team/

https://preview.redd.it/j797anhirrt41.png?width=1212&format=png&auto=webp&s=e14925fc39fb3e9fdc371ab896c106d7785f32da
Writer’s Bitcointalk Username: Emmy92
Writer’s Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1329140
submitted by jigsonsaid to Crypto_Investments [link] [comments]

The Intellectual Foundation of Bitcoin比特幣的智識基礎. By Chapman Chen, HKBNews

The Intellectual Foundation of Bitcoin比特幣的智識基礎. By Chapman Chen, HKBNews

https://preview.redd.it/w6v3l8n3zxu41.jpg?width=2551&format=pjpg&auto=webp&s=fb0338a36a1a321d3781f43ff5eb6929d8b92edc
Summary: Bitcoin was invented by the anonymous Satoshi Nakamoto as recently as 2008, but it is backed up by a rich intellectual foundation. For instance, The 1776 First Amendment separates church and state, and contemporary American liberation psychologist Nozomi Hayase (2020) argues that money and state should similarly be separated. Just as Isaac Newton’s study of alchemy gave rise to the international gold standard, so has the anonymous creator Satoshi Nakamoto's desire for a “modernized gold standard” given rise to Bitcoin. Indeed, Bloomberg's 2020 report confirms Bitcoin to be gold 2.0. Montesquieu (1774) asserted that laws that secure inalienable rights can only be found in Nature, and the natural laws employed in Bitcoin include its consensus algorithm and the three natural laws of economics (self-interest, competition, and supply and demand). J.S. Mill (1859) preferred free markets to those controlled by governments. Ludwig von Mises (1951) argued against the hazards of fiat currency, urging for a return to the gold standard. Friedrich Hayek (1984) suggested people to invent a sly way to take money back from the hands of the government. Milton Friedman (1994) called for FED to be replaced by an automatic system and predicted the coming of a reliable e-cash. James Buchanan (1988) advocated a monetary constitution to constrain the governmental power of money creation. Tim May (1997) the cypherpunk proclaimed that restricting digital cash impinges on free speech, and envisioned a stateless digital form of money that is uncensorable. The Tofflers (2006) pictured a non-monetary economy. In 2016, UCLA Professor of Finance Bhagwan Chowdhry even nominated Satoshi for a Nobel Prize.
Full Text:
Separation between money and state
The 1791 First Amendment to the U.S. Constitution enshrines free speech and separates church and state, but not money and state. "Under the First Amendment, individuals’ right to create, choose their own money and transact freely was not recognized as a part of freedom of expression that needs to be protected," Japanese-American liberation psychologist Nozomi Hayase (2020) points out (1).
The government, banks and corporations collude together to encroach upon people's liberties by metamorphosing their inalienable rights into a permissioned from of legal rights. Fiat currencies function as a medium of manipulation, indulging big business to generate market monopolies. "Freedom of expression has become further stifled through economic censorship and financial blockage enacted by payment processing companies like Visa and MasterCard," to borrow Hayase's (2020) words.
Satoshi is a Modern Newton
Although most famous for discovering the law of gravity, Isaac Newton was also a practising alchemist. He never managed to turn lead into gold, but he did find a way to transmute silver into gold. In 1717, Newton announced in a report that, based on his studies, one gold guinea coin weighed 21 shillings. Just as Isaac Newton’s study of alchemy gave rise to the international gold standard, so has the desire for a “modernized gold standard” given rise to Bitcoin. "In a way, Satoshi is a modern Newton. They both believed trust is best placed in the unchangeable facets of our economy. Beneath this belief is the assumption that each individual is their own best master," as put by Jon Creasy (2019) (2).
J.S. Mill: free markets preferable to those controlled by governments
John Stuart Mill (1806-1873) the great English philosopher would be a Bitcoiner were he still around today. In On Liberty (1859), Mill concludes that free markets are preferable to those controlled by governments. He argues that economies function best when left to their own devices. Therefore, government intervention, though theoretically permissible, would be counterproductive. Bitcoin is precisely decentralized or uncontrolled by the government, unconfiscatable, permissonless, and disinflationary. Bitcoin regulates itself spontaneously via the ordinary operations of the system. "Rules are enforced without applying any external pressure," in Hayase's (2020) words.
Ludwig von Mises (1958): Liberty is always Freedom from the Government
In The Free Market and its Enemies, theoretical Austrian School economist Ludwig von Mises (1951) argues against the hazards of fiat currency, urging for a return to the gold standard. “A fiat money system cannot go on forever and must one day come to an end,” Von Mises states. The solution is a return to the gold standard, "the only standard which makes the determination of the purchasing power of money independent of the changing ideas of political parties, governments, and pressure groups" under present conditions. Interestingly, this is also one of the key structural attributes of Bitcoin, the world’s first, global, peer-to-peer, decentralized value transfer network.
Actually, Bloomberg's 2020 report on Bitcoin confirms that it is gold 2.0. (3)
Von Mises prefers the price of gold to be determined according to the contemporaneous market conditions. The bitcoin price is, of course, determined across the various global online exchanges, in real-time. There is no central authority setting a spot price for gold after the which the market value is settled on among the traders during the day.
Hayek: Monopoly on Currency should End
Austrian-British Nobel laureate Friedrich Hayek’s theory in his 1976 work, Denationalization of Money, was that not only would the currency monopoly be taken away from the government, but that the monopoly on currency itself should end with multiple alternative currencies competing for acceptance by consumers, in order "to prevent the bouts of acute inflation and deflation which have played the world for the past 60 years." He forcefully argues that if there is no free competition between different currencies within any nation, then there will be no free market. Bitcoin is, again, decentralized, and many other cryptocurrencies have tried to compete with it, though in vain.
In a recently rediscovered video clip from 1984, Hayek actually suggested people to invent a cunning way to take money out of the hands of the government:- “I don’t believe we shall ever have a good money again before we take the thing out of the hands of government, that is, we can’t take them violently out of the hands of government, all we can do is by some sly roundabout way introduce something they can’t stop” (4). Reviewing those words 36 years hence and it is difficult not to interpret them in the light of Bitcoin.
Milton Friedman Called for FED to be Replaced by an Automatic System
Nobel laureate economist Milton Friedman (1994) was critical of the Federal Reserve due to its poor performance and felt it should be abolished (5). Friedman (1999) believed that the Federal Reserve System should ultimately be replaced with a computer program, which makes us think of the computer code governing Bitcoin (6).[\](https://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reserve#cite_note-:2-12) He (1970) favored a system that would automatically buy and sell securities in response to changes in the money supply. This, he argued, would put a lid on inflation, setting spending and investment decisions on a surer footing (7). Bitcoin is exactly disflationary as its maximum possible supply is 21 million and its block reward or production rate is halved every four years.
Friedman passed away before the coming of bitcoin, but he lived long enough to see the Internet’s spectacular rise throughout the 1990s. “I think that the Internet is going to be one of the major forces for reducing the role of government," said Friedman in a 1999 interview with NTU/F. On the same occasion, he sort of predicted the emergence of Bitcoin, "The one thing that’s missing, but that will soon be developed, is a reliable e-cash, a method whereby on the Internet you can transfer funds from A to B, without A knowing B or B knowing A." (8)
Of course, Friedman didnt predict the block chain, summed up American libertarian economist Jeffery Tucker (2014). “But he was hoping for a trustless system. He saw the need. (9).
Bitcoin Computer Code as Constitution in the Buchananian Sense
American economist cum Nobel laureate James Buchanan (1988) advocates constitutional constraints on the governmental power to create money (10). Buchanan distinguishes a managed monetary system—a system “that embodies the instrumental use of price-level predictability as a norm of policy”—from an automatic monetary system, “which does not, at any stage, involve the absolute price level” (Buchanan 1962, 164–65). Leaning toward the latter, Buchanan argues that automatic systems are characterized by an organization “of the institutions of private decision-making in such a way that the desired monetary predictability will emerge spontaneously from the ordinary operations of the system” (Buchanan 1962, 164). Again, "Bitcoin regulates itself through the spontaneous force of nature, flourishing healthy price discovery and competition in the best interest of everyone" (Hayase 2020).
Shruti Rajagopalan (2018) argues that the computer code governing how the sundry nodes/computers within the Bitcoin network interact with one another is a kind of monetary constitution in the Buchananian sense. One of Buchanan's greatest inputs is to differentiate the choice of rules from the choice within rule (Buchanan 1990). One may regard the Bitcoin code as a sort of constitution and "the Bitcoin network engaging in both the choice of rules and choice within rules" (Rajagopalan 2018) (11).
Tim May: Restricting Digital Cash may Impinge on Free Speech
Cypherpunks are activists who since the 1980s have advocated global use of strong cryptography and privacy-enhancing technologies as a route to social and political liberation. Tim May (Timothy C. May [1951-2018]), one of the influential cypherpunks published The Crypto Anarchist Manifesto in September 1992, which foretold the coming of Bitcoin (12). Cypherpunks began envisioning a stateless digital form of money that cannot be censored and their collaborative pursuit created a movement akin to the 18th Enlightenment.
At The 7th Conference on Computers, Freedom, and Privacy, Burlingame, CA. in 1997, Tim May equated money with speech, and argued that restricting digital cash may impinge on free speech, for spending money is often a matter of communicating orders to others, to transfer funds, to release funds, etc. In fact, most financial instruments are contracts or orders, instead of physical specie or banknotes (13).
Montesquieu: Laws that secure inalienable rights can only be found in Nature
In his influential work The Spirit of Laws (1748), Montesquieu wrote, “Laws ... are derived from the nature of things … Law, like mathematics, has its objective structure, which no arbitrary whim can alter". Similarly, once a block is added to the end of the Bitcoin blockchain, it is almost impossible to go back and alter the contents of the block, unless every single block after it on the blockchain is altered, too.
Cypherpunks knew that whereas alienable rights that are bestowed by law can be deprived by legislation, inalienable rights are not to be created but can be discovered by reason. Thus, laws that secure inalienable rights cannot be created by humankind but can be found in nature.
The natural laws employed in Bitcoin to enshrine the inalienable monetary right of every human being include its consensus algorithm, and the three natural laws of economics (self-interest, competition, and supply and demand) as identified by Adam Smith, father of modern economics.
Regarding mathematics, bitcoin mining is performed by high-powered computers that solve complex computational math problems. When computers solve these complex math problems on the Bitcoin network, they produce new bitcoin. And by solving computational math problems, bitcoin miners make the Bitcoin payment network trustworthy and secure, by verifying its transaction information.
Regarding economic laws, in accordance with the principle of game theory to generate fairness, miners take part in an open competition. Lining up self-interests of all in a network, with a vigilant balance of risk and rewards, rules are put in force sans the application of any exterior pressure. "Bitcoin regulates itself through the spontaneous force of nature, flourishing healthy price discovery and competition in the best interest of everyone," to borrow the words of Hayase (2020).
A Non-monetary Economy as Visualized by the Tofflers
In their book, Revolutionary Wealth (2006), futurists Alvin Toffler and his wife Heidi Toffler toy with the concept of a world sans money, raising a third kind of economic transaction that is neither one-on-one barter nor monetary exchange. In the end, they settle on the idea that the newer non-monetary economy will exist shoulder-to-shoulder with the monetary sector in the short term, although the latter may eventually be eclipsed by the former in the long run. What both the Tofflers' The Third Wave (1980) and Revolutionary Wealth bring into question is the very premise of monetary exchange. The vacuum left over by cash in such a non-monetary economy may be filled up by Bitcoin as a cryptocurrency.
Satoshi Nakamoto Nominated for Nobel Prize by UCLA Finance Prof.
UCLA Anderson School Professor of Finance Bhagwan Chowdhry nominated Satoshi Nakamoto for the 2016 Nobel Prize in Economics on the following grounds:-
It is secure, relying on almost unbreakable cryptographic code, can be divided into millions of smaller sub-units, and can be transferred securely and nearly instantaneously from one person to any other person in the world with access to internet bypassing governments, central banks and financial intermediaries such as Visa, Mastercard, Paypal or commercial banks eliminating time delays and transactions costs.... Satoshi Nakamoto’s Bitcoin Protocol has spawned exciting innovations in the FinTech space by showing how many financial contracts — not just currencies — can be digitized, securely verified and stored, and transferred instantaneously from one party to another (14).
Fb link: https://www.facebook.com/hongkongbilingualnews/posts/947121432392288?__tn__=-R
Web link: https://www.hkbnews.net/post/the-intellectual-foundation-of-bitcoin%E6%AF%94%E7%89%B9%E5%B9%A3%E7%9A%84%E6%99%BA%E8%AD%98%E5%9F%BA%E7%A4%8E-by-chapman-chen-hkbnews
Disclaimer: This article is neither an advertisement nor professional financial advice.
End-notes
  1. https://bitcoinmagazine.com/articles/bitcoin-is-the-technology-of-dissent-that-secures-individual-liberties
  2. https://medium.com/hackernoon/why-sir-isaac-newton-was-the-first-bitcoin-maximalist-195a17cb6c34
  3. https://data.bloomberglp.com/professional/sites/10/Bloomberg-Crypto-Outlook-April-2020.pdf
  4. https://www.youtube.com/watch?v=EYhEDxFwFRU&t=1161s
  5. https://www.youtube.com/watch?v=m6fkdagNrjI
  6. http://youtu.be/mlwxdyLnMXM
  7. https://miltonfriedman.hoover.org/friedman_images/Collections/2016c21/IEA_1970.pdf
  8. https://www.youtube.com/watch?v=6MnQJFEVY7s
  9. https://www.coindesk.com/economist-milton-friedman-predicted-bitcoin
  10. https://www.aier.org/research/prospects-for-a-monetary-constitution/
  11. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3238472
  12. https://www.activism.net/cypherpunk/crypto-anarchy.html
  13. http://osaka.law.miami.edu/~froomkin/articles/tcmay.htm
  14. https://www.huffpost.com/entry/i-shall-happily-accept-th_b_8462028
Pic credit: Framingbitcoin
#bitcoin #bitcoinhalving #jamesBuchanan #MiltonFriedman #AlvinToffler #FirstAmendment #LudwigVonMises #TimMay #freeMarket # SatoshiNakamoto #FriedrichHayek #Cypherpunk #Cryptocurrency #GoldStandard #IsaacNewton
submitted by HKBNews to Bitcoin [link] [comments]

Forecast and Perspective of Ethereum in 2020

Ethereum is the most famous and largest altcoin, attracting the attention of not only experienced traders, but also cryptocurrency community novice users. All of them are interested in how much Ethereum will cost in 2020? Many people remember how in 2017 the coin grew more than 40 times, but this record was followed by a natural rollback in value.
ETH Features at a Glance
This blockchain platform is quite popular, so the forecast of the Ethereum exchange rate is a popular topic in the market. Moreover, the network has a relatively low transaction speed. At the end of 2017, a large decentralized application CryptoKitties appeared, which loaded Ethereum with a critical number of transactions (the network almost stopped working).
Until now, one of the problems of the cryptocurrency network is its scalability - even Vitaly Buterin himself speaks about this. The main technological features of the project include:
· Proof-of-stake mechanism
· sharding protocol;
· Plasma protocol.
Each cryptocurrency platform has a consensus mechanism that determines how transactions are verified. ETH uses the same model as BTC - Proof-of-stake. It creates a complex puzzle, and the solution requires great power. Having the right equipment, the user can connect to the network and solve puzzles (mining). Cryptocurrency is given as a reward.
Ethereum sharding is a protocol for changing a transaction verification process. Each node supporting the blockchain confirms a separate transaction. A node is a device connected to a network to implement an asset transfer confirmation. At the moment, there are more than 16 thousand individual nodes in the ETH network.
The essence of sharding is that it groups nodes. Each group is a shard working with different parts of a transaction. This approach improves the efficiency of verification and confirmation of transfers, increasing the maximum number of transactions per second.
Plasma is a protocol for removing excess data from the main blockchain in order to free up space. When creating a new smart contract, it enters the network automatically. Even unfinished contracts fill the blockchain, which creates extra time delays. The Plasma protocol creates an additional layer on the core network used for unfinished smart contracts.
When the smart contract is completed, it is sent to the main blockchain. Buterin recently announced that he is looking for ways to implement sharding and the Plasma protocol in the near future, that will solve the scalability of the network and achieve speeds of thousands of transactions per second.
The prospects for Ethereum in 2020 are highly dependent on the plans implementation. If everything is done, the course and capitalization will rush up. Follow ETH forecasts on our website so you don’t miss important events.
Ethereum situation at the end of 2019
There are still few forecasts for the Ethereum price in 2020, since analysts are interested in the current situation - what will happen to the coin before the end of the year? According to the Coin Metrics portal, the average daily commission for transfers of coins on the ETH network exceeds this figure for Bitcoin. This suggests that the demand for Buterin’s network is very high today.
As a means of transferring money, Ethereum is very popular. A new record was set by the consumption of GAS on the network per day, which suggests that users conduct more complex operations, create new smart contracts and consume more GAS.
Over the past six months, the hash rate has been rising. Now it reaches 190T, that is, miners are positive and believe in a favorable forecast for the Ethereum exchange rate by the end of the year. As of the end of October 2019, the value of the coin is $ 186 with a capitalization of $ 20.1 billion and a daily trading volume of $ 9.7 billion.
Many expect an update to Ethereum 2.0, which is due to take place in early January 2020. Ethereum 2.0 is a large-scale computer that will turn the network into a decentralized blockchain platform with support for thousands of transactions per second. They will be processed very cheaply, so token transfer fees will decrease. Electricity costs will also be reduced, which are now quite high due to the Proof of Work mining algorithm.
At the moment, ETH mining requires asics or powerful graphics cards, and after updating Ethereum 2.0, the blockchain will switch to Proof-of-Stake. This algorithm does not require the use of equipment and electricity. Only a wallet with coins is needed. The larger their stock, the greater the owner’s earnings.
At the moment, several popular stablecoins operate on the Ethereum blockchain, including:
· Tether (USDT)
· Dai (DAI)
· Gemini Dollar (GUSD)
· Paxos Standard (PAX)
· TrueUSD (TUSD)
· USD Coin (USDC)
Their total capitalization exceeds $ 3 billion, most of which is owned by USDT. If the creation of stablecoins on Ethereum is allowed at the legislative level, the coin will definitely develop, and very actively.
Ethereum Growth Background
Everyone is interested in the Ethereum forecast for 2020, as this coin has high volatility. Cost greatly depends on many factors, namely:
  1. Speculative fraud. Investors should always control the situation and buy up coins when the rate drops, and then not be greedy and sell them when they increase by 10-15%.
  2. Technology development. Increasing the speed of transactions and attracting the largest companies will increase the capitalization and exchange rate.
  3. Economic forces. These include the popularization of virtual coins.
  4. Transaction security.
  5. Country Policy. The attitude of government bodies towards cryptocurrencies in general.
  6. News background.
At the moment, the main prerequisite for growth, which will give the coin great prospects, is the introduction of Ethereum 2.0.
Ethereum Forecast for 2020
Popular cryptanalyst Bobby Ullery predicts the Ethereum exchange rate for 2020, expecting an increase in the market capitalization of the coin to a trillion dollars. ETH, according to the analyst, will take ¼ part of the cryptocurrency market.
He came to such bold conclusions after studying the situation. The issue of coins is not limited by anything, and based on Ullery’s forecast, the rate should rise several times and exceed 10-11 thousand dollars per token.
Analysts at Long Forecast are also very optimistic. They make a forecast for the ETH exchange rate, according to which coins will cost about 720 dollars at the beginning of the year. Subsequently, before the summer, the price should decline and fluctuate within 470-670 dollars. Accordingly, starting from current values, the price of Ethereum will rise 3-4 times.
Specialists from the CoinKr portal also engaged in the technical analysis of cryptocurrency. Their data suggests that in early 2020, Ethereum should cost more than $ 700, and by the end of the year it will rise to $ 1,500.
In general, experts' forecasts are optimistic, and several conclusions can be made based on other analytical reviews:
· The cost of the coin depends significantly on whether the developers will be able to implement the promised technical innovations, implement the Plasma and Sharding protocols.
· The popularity of a coin depends on the frequency and effectiveness of smart contracts.
· Increased demand for other coins is driving the rise in ETH.
Should you buy Ethereum Today?
There are many unpredictable turns in the world of cryptocurrencies, so it’s difficult to definitely talk about buying coins. Now the situation has stabilized, but at any moment everything can turn in the other direction. At the moment, the price of ETH is $ 150, so it is better to wait for a small pullback to the level of $ 123-130 and buy, waiting for the introduction of technical innovations in early January.
submitted by vadim77top to u/vadim77top [link] [comments]

Telegram AMA - Summary

Telegram AMA - Summary
https://preview.redd.it/hml53mmh5er41.png?width=568&format=png&auto=webp&s=3f0cd662e1836bcb2ea37793cbbbfd6f8a5e9723
Zhuling Chen
It’s always great to hang out in this group. This group means a lot to the Aelf community. It is the first Aelf community and has been there through all the ups and downs in the world. I would like to start with wishing everyone is staying safe at home during the virus outbreak. It definitely has been a difficult time for all of us, but together we can pull through it.
We understand that the situation is quite striking to all of us. But I really believe that the solution to the virus outbreak is about more global coordination and collaboration.
All of you to be assured, our team in different places are all safe and working from home as normal.
The Aelf team in Beijing were among the early ones experiencing the virus outbreak. As everyone was on the way home for Lunar New Year holiday and then experienced a total city lock-down followed by a 40 days’ work from home policy. It was definitely not easy for them, but our team stayed strong, took necessary precautions and focused on work with the right morale. Mappo has recently published some tips on how to work from home effectively based on our experience. Do check it out. Despite not working in the office since February, we have achieved great progress, including launching Aelf 1.0 preview, which is an important milestone in technical delivery and also the roadmap to mainnet launch (which listed out the essential steps for the community to work together to launch a successful public network)
Let's first talk about Aelf v1.0 preview. It is the cornerstone of the mainnet launch. The product itself has all the features that the public network is needed. The codebase has been reviewed and tested rigorously by the team. And a few highlights of how the network would look like:
  1. The code allows a stable and high throughput blockchain network to operate publicly.
  2. For developers, they will love how flexible the system is to be customized, the number of tools and documentation to help them start developing applications on the network
  3. For the whole community, the system is an ever-evolving one where the voting system is ready in place to conduct network-wide voting on various topics, such as transaction fee adjustment, network protocol upgrade, incentive adjustment, etc
  4. Aelf system is able to run multi-chain architecture where each side chain will host different applications and still ready to work with each other
So you may ask since the software is ready, why have we not yet launched the public network? The answer, in short, is that a public blockchain is launched not by a team but through a community effort and that's why we are coordinating the community effort based on the roadmap we proposed. Aelf team has launched the public testnet based on Aelf v1.0 preview and currently, all nodes are under the team. The goal is to let the community and elected nodes to take it over and launch it on a global scale. Not only launch it but also be familiar with the network and also set the launch parameters in a decentralized way. If we take a car as an example, we have made the car, but ultimately the drivers are you guys and therefore before it really hits on the road, we need to guide the community to do a test drive, adjust the car based on what really works for YOU, and ultimately let YOU drive the car freely and safely
So how are we going to help the community launch the network:
First of all, we have launched the codes, documents about the economic system and governance model and technical features. With all the things available, you are able to understand what the system is about, as a token holder what's your benefit in the system, and being a node in the system plays a big role in the governance
Next, without yet electing the nodes, we will get all token holders to join the current Aelf network through a mapping event. That means as long as you have Aelf tokens, you will be able to get 1:1 test tokens on the public testnet. that gives you full access to all the features, and you will feel like you are already using the mainnet. You will get rewarded in making transactions, voting, etc.
Do try out the Aelf wallet and voting features, you will see how easy to transfer tokens cross-chain. and also how flexible the system allows people to make changes. For example, the community may want to adjust the block rewarding parameters or fees to use certain services on mainnet, they can initiate a discussion and then vote in the system and once voted through, it will be reflected on mainnet.
For people or organizations that want to play a bigger role in the system, we will do a dry run of node election. Take it as the real node election before mainnet launch. We will see who the active members of the community are and being trusted by the community. Among the nodes, we will form a network launch committee. The committee will be the crucial party to oversees and ensures the smooth launch of Aelf mainnet, instead of just relying on the Aelf team. This is our step towards decentralization.
The committee will agree on the actual launch process, final checking all the parameters in the system to be ready for launch and then decide when the criteria are met to launch the network. Once all that is decided. We will invite all interested nodes to apply for the election and let the community know what's their plan to grow the Aelf network. the network will initially be launched with a few nodes from the committee and gradually be replaced by the selected nodes (a bootstrap phase). Along the way, we will work with exchanges to conduct token swap (which we are also designing an innovative system to further enhance security and usability of Aelf tokens in exchanges)
Among this isolated and worrisome time, at least we all have something to look forward to: a successful launch of Aelf network! Once it is launched, we are excited to see a vibrant and technically superior network that is good for Dapps to run on top of it.
https://preview.redd.it/yp28n1jj5er41.png?width=559&format=png&auto=webp&s=c470cdedd7f8923f29a3b1bd777476f22cc76521
Doris Guo Q1: As a Blockchain start-up, what difficulties have you overcome when starting Aelf project? What motivates you to solve difficulties and achieve success today?
Zhuling Chen First, just like launching any start-up, its community and investors are usually regional. There is always some bias on if Asian projects are solid. It is really rare to have an Asian project to be supported by western funds and community from day 1. We were lucky to have overcome that obstacle. Having a global investor line-up from day 1. Having a global team from day 1 and also working with a global community from day 1. This benefited us to have an international perspective which is crucial in the blockchain industry.
Secondly, as a hardcore technology company, it is really hard to put in plain words what is our ambition. Our ambition is huge, achieving key innovations in multiple fronts of blockchain technology and organically combined them to serve real users for the future. Our marketing team has been working really hard to elaborate on what Aelf is. Now we have come to a point that the product is ready. Therefore, it is much easier for all of us to understand how solid Aelf is by trying out the network ourselves! That's exactly what the following events will be about - Try out all the exciting features of Aelf network before mainnet launch.
Doris Guo Q2: What critical problems do you see occurring in the blockchain industry nowadays? How does Aelf solve these problems?
Haobo Ma First, we need to distinguish the difference between BTC and ETH. One is Digital Cash and the other is the Smart Contract Platform. Aelf addresses most of the latter's problems. In short, it can be summarized as performance, end-user friendly, developer-friendly, network economy, and self-governance and upgrading. Each of these areas will probably take up a lot of space, and as a whole are the issues described in our two white papers. In short, Aelf is faster, end-users do not need to know the rules of the blockchain, developers can set up the development environment in 10 minutes, have a good economic model and can carry out proposal governance on the chain.
Doris Guo Q3: What is your long-term vision about the industry which Aelf is working at? Are you afraid someday there will be another project with more innovative technology can replace Aelf?
Haobo Ma Let's talk about where Aelf stands in the traditional Internet. It is essentially a cloud service provider, Aelf provides resources and infrastructure for developers to deploy their services, known as smart contracts. We eventually want Aelf to grow like AAA (Amazon, Azure, AliCloud). Because Aelf is a network that can be dynamically scaled, we can accept any new technology, some of the more advanced technologies we can put on a side chain.
Doris Guo Q4: Why did Aelf choose for cross-chain interaction?
Haobo Ma As I mentioned earlier, Aelf solves the Smart Contract Platform problem. However, there are other digital cash problems as well which we would need to use existing infrastructure such as Bitcoin's chain in order to interact with Bitcoin. There are a lot of infrastructures on Ethereum that we want to interact with. Multi-chain on Aelf network mainly is to isolate resources to improve network performance and network stability.
Doris Guo Q5: What difficulties do the Aelf team have now (I talk about COVID-19)? How does the Aelf team solve it? Have you changed the roadmap?
Haobo Ma There is no great impact. The teams in Singapore and Beijing are communicating with each other remotely on a regular basis. The only change is that most of us are now working from home which has no impact and in fact, it seems conducive to the acceptance of more community developers in the future to come. From the internal working schedule and development timeline, there is no great impact. We do not publish specific timeline as we do not want short term holders (traders) to create too much negative pressure on product development.
Doris Guo Q6: Aelf is an open-source blockchain, and there's the common problem of taking a substantial amount of time for the different participants to agree on strategic decisions. What types of governance models do you use in Aelf to address this issue???
Haobo Ma The issue is about public blockchain network, and who can decide the direction of the network. Our answer is long-term holders. For the short-term holders (traders), we refuse to allow them to participate in any discussion of the direction of Aelf because the short-term holders are likely to make a profit and sell quickly, which is essentially the same example of a person who cheats the President and then runs away for his personal gain. We defined a number of proposal processes, including the logic of the two-party system in the United States, and the participation in the referendum to ensure that the final proposal represents the majority. At the same time, we are looking for some legal solutions to avoid bifurcation, such as prohibiting exchanges from intervening in bifurcated new tokens. While we cannot limit a community, we should be able to find ways to limit a centralized organization. This restriction is akin to a ban on national secession.
Doris Guo Q7: How will Aelf empower Investors, Companies, Developers, Platform Users to deliver impactful solutions and bring value to people all over the world?
Haobo Ma We will learn from the operational experience of successful foundations such as the LINUX foundation and license some commercial companies to use Aelf solutions to solve business problems. At the same time, Aelf is an open-source product under the MIT License, and we accept any use that does not violate this open-source principle.
Zhuling Chen Let me add on to Haobo’s statement: to incentivize and empower the community, we are also exploring ways to let the community decide how to use the funds for Aelf (allocate to where it matters to our community) once mainnet is launched. This means you guys can decide what are the projects to be funded on Aelf, etc
Doris Guo Q8:When will the node campaign start? How will Aelf attract users to participate in nodes election?
Haobo Ma According to our published roadmap, the timeline can be dynamic, but I don't think it will be too long. The main idea is to let everyone understand what we envision Aelf to be like, and what are the rights and benefits of being a node in the future. We hope to find nodes that fully recognize the efforts of Aelf at the present stage and are willing to participate in the future development of Aelf. We will run a simulation of the node campaign on the testnet and set up a temporary mainnet launch committee. Please follow our official Twitter for more upcoming details!
Doris Guo Q9: Token swap form 2 is some kind of cross-chain transfer? It will be handled by a smart contract?
Haobo Ma It is handled by the smart contract, we define an asset cross-chain transfer protocol, but it may be opened after a snapshot.
Doris Guo Q10: Which Exchanges will support token swap? Do you have any plan to list Aelf in some big exchange like Binance, Houbi, Kucoin, .......?
Haobo Ma We are already in talks with some exchanges, there is still competition between exchanges, and many are still hoping to attract more users by getting access to mainnet token swap early.
Doris Guo Q11: Aside conversion of the current tokens to mainnet tokens, what other main features will be accomplished with the mainnet launch?
Haobo Ma We have a documentation file that has been published, which has listed some features: https://Aelf.io/gridcn/Aelf_public_testnet_and_supporting_features_introduction_en_v1.0.pdf
Doris Guo Q12: Do you have any plan to burn or buyback your coin?
Haobo Ma We have plans for the community to govern through DAO, we have no interest in short-term price incentive adjustment as we would prefer to drive the project to higher adoption. After mainnet starts operation, there will be a part of network revenue get destroyed automatically.
Doris Guo Q13: Often, as a newbie developer, I face difficulties on most blockchains. How easy and convenient is it for me on Aelf, and what programming language and tools are needed??
Haobo Ma We set up staging for DAPP developers on GitHub and configured CI. Develop a smart contract using C# with React Native on the front end. So, in fact, developers can fork the source code without setting up the environment locally, and you can conduct unit testing with the help of CI. You can also release the smart contract and generate the installation package of iOS and android online. https://github.com/AElfProject/Aelf-boilerplate
Doris Guo Q14: What is the progress of business development and what are some of your commercial partnerships? How will Aelf rapidly develop the number & performance of DAPP?
Haobo Ma First of all, the blockchain industry is still fairly small and users with ETH and EOS wallets are considered a very small group and its not effective to even promote within these groups. What we need to consider is how to enable users who have never been exposed to blockchain to use DAPP. The competitiveness of Aelf is to make it easier for Aelf developers to promote their DAPP to ordinary users, rather than to teach ordinary users a lot on blockchain knowledge. The average user doesn't like to hear about private keys, mnemonic, Gas Price, RAM, CPU, etc. Only until we solve such problems, companies that need to solve problems through blockchain will be more inclined to use Aelf in technology selection. Therefore, our main work is to explain the competitive advantages of Aelf, ETH and EOS to everyone. We have some business cooperation’s, but we also believe that simply through case-by-case business cooperation will not be able to gain adoption so quickly, therefore we still need to put our products to stay ahead of the next generation.
Doris Guo Q15: What other activities can encourage more people to be confident about Aelf?
Haobo Ma We are only going to state the truth by having those that have faith in us to stay and those that don't to leave. The development of Aelf is not driven by a single foundation, but by a steady stream of contributions from the community. In the future, we will also place the activities in the DAO for on-chain governance, and let the community make decisions by itself.

https://preview.redd.it/e66vhqvl5er41.png?width=555&format=png&auto=webp&s=412a2dd831ba3817806e48855f158482bf671770
Kun Aguero As you know that in the present market situation many new coins or either dying or thriving for liquidity? How will you manage this liquidity problem?
Zhuling Chen Aelf started in 2017. we have gone through a few cycles in the market, still, remember the big down period in 2018-2019. Aelf is financially solid and the team has always been working hard. if you are referring to liquidity in exchanges, we are among the lucky ones that are listed in all major exchanges
Xinshu Dong Hello, great discussions! I would like to ask what are the criteria to join the committee for launching the mainnet? Would love to participate
Zhuling Chen Hi xinshu, great to see you here. The committee will be chosen among the nodes elected during the testnet dry run. Which means, it is really important to participate in the testnet dry run and also start to establish your reputation in the community so that people will elect you as a node. The detailed criteria will include what is your plan to help Aelf to grow, tech competency and reputation.
An Da What are Aelf’s achievements in 2019? Who had supported you to get those things?
Zhuling Chen To name a few, in 2019, Aelf is one of the most active projects on GitHub. This means Aelf is evolving and improving fast in this space and our team has the tech strength. In addition, we have also successfully listed on all major cloud service providers, such as AWS, Azure, Google. So large companies can easily launch Aelf side chains in their organization with minimum hassle.
John How does the voting for master nodes candidates occur? And why is the development of this system important for your project?
Zhuling Chen Voting is going to be pretty simple. All token holders can vote for the nodes they support on our block explorer.
Miha After mainnet lunch, how will you assure that transactional fees will stay low? We know what sometimes happens to fees on ETH blockchain.
Zhuling Chen First of all, due to the fact that is Aelf is scalability, this will reduce transaction fee. Secondly, all transaction fees will be voted by the nodes (which will be elected by you). So they will represent your interest
Bobbyfernandito Currently, as we see All projects are concerned with the speed and security. So, tell us here - what are the facilities Aelf provide to their user and investors?
Haobo Ma Security: we have an automated smart contract code audit. During contract deployment, production nodes and the community audit participation are required. On the other hand, we are also planning to provide a standardized model of centralized exchange access for 100% asset certification and emergency measures to deal with exchange attacks, which we will be released later. Speed: Aelf has been working on improving performance, which is transparent to users which they can also experience by themselves.
An Da What effect does Aelf token have on the Aelf ecosystem? Holding Aelf, what benefits will users receive?
Zhuling Chen Holding ELF enables you to use all the services on the Aelf network. ELF has a deflating system where the total amount will reduce as the network grows. token holders can also vote for the nodes to run the network and also vote for big decisions in the network. part of the fees in the system will also be distributed to token holders via a smart contract
ahihi132 Which companies do you view them as potential partners and that they are somewhat also beneficial for both the user base and Aelf itself?
Zhuling Chen Great question, if I could write a wish list, that will be: let medium-sized financial institutions to use Aelf to challenge the big boys. Let telecommunication companies use Aelf for micro-payment and other innovative business models. We also would like to try out a few public sector projects, which blockchain will is still more transparency and trust
Misun Q1: Which programming languages are you using in your project? And why? Q2-What are another big MILESTONES you have planned for 2020 roadmap and how are they supposed to benefit your costumers? Will it be an exciting year?
Haobo Ma For Q1: We mainly use C# for development, I personally like it. Performance is good, development environment IDEs are strong, and C# creators are influential in the industry. We believe in the right thing, though it may take a while to develop. The smart contract will then add support for multiple languages, such as WebAssembly, depending on the needs of the community. Now it seems that C# is enough.
Hambi crypto Which platforms are your competitors? How will you soar above them, and what better things do you offer than them? So, What’s your outlook on the future of cryptocurrencies in this year and next few years?
Haobo Ma As I have already mentioned this before, Eth and Eos. We provide better performance, cross-chain support (already implemented), end-users do not need to know the details of the blockchain, developer’s payment models and so on.
Floris-Jan What plans is Aelf making to prevent centralized exchange to take over the DPoS algorithm like what happened to Steem? Are we talking about blacklisting exchange wallets, or having the foundation say "No", or putting all trust in the community?
Zhuling Chen Great question, Floris. I’m not going to give away all the details of what Haobo has proposed to work on this, but in a nutshell, in Aelf system, exchange wallets will not be allowed to vote, but only the sub-wallets for each individual can vote. This will also help exchanges to prevent hacking and theft in the future
Alex What your plans in place for global expansion, are Aelf wallet focusing on the only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
Haobo Ma Our core focus will be through the developers to promote, developers will help Aelf to attract more users. So our product has to be attractive to developers. Just like AWS, they only focus on getting their service right, their developers will think about how to promote it. We don't want to burden them in their promotion process.
Ellkay What do you think are the major threats and barriers that could face the development and adoption of Aelf?
Haobo Ma If I'm a DAPP developer and I need to promote my APP to people who don't recognize blockchain, then I'd like to choose a platform that doesn't have to explain a lot of blockchain details to the end-user, so they can use it easily. We've provided some options in the Boilerplate that allow you to log-in simply via QR code + Password, and our recommended Dapp is an independent wallet and a separate iOS/Android application.
ahihi132 Give me some important reasons why we need to hold Aelf token where in fact hundreds of projects failed and it went to bankruptcy or even developers run when they collect millions/billions of funds?
Haobo Ma First of all, we will not give any suggestions as we only describe the fact that the long-term token holder will be able to govern the Aelf network, get Aelf mining reward and Aelf network profit. At the same time, Aelf network is a deflation model, Aelf network received transaction fees, profit dividends will immediately destroy 10% etc. All investments are risky, and we don't judge the behaviour of other developers. There are so many things in this world that cannot be understood and unfair. It is important to do our job well. I cannot explain these things.
见愁 I remember that boss Ma mentioned to only find those truly innovative applications and enterprises with blockchain, how to find and win partners in these aspects?
Haobo Ma When Linus was developing Linux, I did not think he would find a lot of collaboration when the code was not good. The response we can give is that we already have a lot of interest in cooperation, including what we have announced, what we have not announced, etc.
见愁 How interested are cloud computing providers in participating nodes?
Haobo Ma The vast majority of our nodes should be using cloud services, and as long as a large number of our 17 nodes and other candidate nodes are based on cloud services, our network robustness is determined by these cloud computing providers. Of course, in the expansion, we can also use cloud computing services.
submitted by Floris-Jan to aelfofficial [link] [comments]

How Much can You make on a 500$ Bitcoin Mining Contract ... Mining City and Bitcoin Vault Review - YouTube Profil Para Penambang Uang Digital atau Bitcoin Hingga Rp ... Genesis Mining - Bitcoin Mining Company - YouTube Best Bitcoin Mining Software That Work in 2020??? Review ...

Bitcoin mining is very competitive and has incredibly thin margins. There would be no way to mine profitably if they were paying not only you, but also the person who referred you. An image of a sketchy affiliate program paying way too high of referral fees . Can you find out who the owners are? If there is no way to the know idenntity of the cloud mining operation, there is no way to hold ... The right Bitcoin mining contract is the only thing missing to get started. In layman’s terms, BTC cloud mining is a process of making Bitcoin as a reward without the hassles of hardware upkeep, high electricity bills, and related issues. On the whole, it comes down to using the capabilities of remote data centers that Hashmart will provide you with. All you need to start mining is to select ... This is about CCG Mining; a complete but concise review with the prices of their mining contracts, rig mining contracts, and customer loyalty program. Skip to content. Menu. BUY/SELL BITCOINS. How to Buy Bitcoins; Buy Other Cryptos; Top Crypto Exchanges; BEST WALLETS; MINING; SCAM UNMASK; TOP ALTCOINS. ALTCOINS REVIEW; WHAT IS BITCOIN; FAQ; CRYPTO TRADING; Home » Mining » CCG Mining (2020 ... Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. 02 Is it necessary to be "online" on the site in order to work the mining? Top 10 Best Trusted and Safe Bitcoin Cloud Mining Sites of 2020 Bitcoin Pool. Bitcoin Pool (mining.bitcoin.com) is provided directly by Bitcoin.com and aims to provide the most competitive clouding mining service. Bitcoin advertise that they deliver the highest Pay Per Share (PPS) pool globally with a 98% block reward.

[index] [27786] [13331] [39579] [40746] [47321] [41990] [33258] [12043] [42368] [37366]

How Much can You make on a 500$ Bitcoin Mining Contract ...

Best way to make money online in bitcoin mining, learn and earn more tips about making money daily in bitcoin If you want to learn how to earn bitcoin in 2... Bitcoin atau uang digital memang belum diakui oleh Bank Indonesia sebagai alat pembayaran yang sah. Namun seiring tingginya harga bitcoin di dunia maya, kebe... In this video I will review for the best Bitcoin mining software for you. Let's observe this guy's!!! Downloaded https://bit.ly/2S9tFJ0 Please support my cha... Lets talk about Bitcoin and what I THINK caused the recent jump in price - enjoy! Add me on Instagram: GPStephan The YouTube Creator Academy: Learn EXACTLY h... How Much can You make on a 500$ Bitcoin Mining Contract? The results speak for themselves.. Start mining your own cryptocurrencies from as little as $25 up t...

#