submitted by SwipeWallet to Swipe_io [link] [comments]
Today marks the 10th year of the much-celebrated Bitcoin Pizza Day when a hungry man Laszlo Hanyecz from Florida bought two boxes Papa John’s Pizza for 10,000 Bitcoins (BTC).
Back then, Bitcoin doesn’t have that much value (than it has today obviously) as the concept of cryptocurrency was just introduced a little over a year. So, it was relatively a good deal.
In his 2010 post on an online forum Hanyecz stated:
I’ll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I’m aiming for is getting food delivered in exchange for bitcoins where I don’t have to order or prepare it myself, kind of like ordering a ‘breakfast platter’ at a hotel or something, they just bring you something to eat and you’re happy! I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. If you’re interested please let me know and we can work out a deal. Thanks, LaszloHanyecz’s transaction was a milestone in the adoption of Bitcoin in everyday transactions. It was not just about the idea that today’s BTC value is way higher than it was ten years ago. It was because that pizza transaction became the first Bitcoin deal in history and opened the possibilities of its spending power in the world.
For the following years, Bitcoin has surely grown a lot in terms of value and usability. A lot of other kinds of cryptocurrency emerged, all with the same idea of revolutionizing payments and its mass acceptance across the world.
In his interview with Anderson Cooper in 2019, he thought that the idea of trading something out of his digital currency was a “cool thing.”
“I honestly thought it would be really cool if I could say, ‘Hey, I just traded this, you know, open-source internet money for a real-world good,” Hanyecz during his interview at 60 Minutes.
At present, one BTC is worth $9,000 USD, making the 10,000 BTC equivalent to over 91M USD. A VERY significant value increase compared to its price $41 USD price ten years ago. Who would have thought that his cool idea became a door to a lot of opportunities in the crypto world today?
Now does anyone wants a box or two of pizza? Happy Bitcoin Pizza Day!
This blog is also posted at: https://sw.pe/blogbtcpizzaday
How does MarcoPolo Protocol expand its market in South Korea, Turkey, Vietnam, Turkey, Russia, Indonesia, and other countries? What is the current community situations?submitted by SamJia to MarcoPoloProtocol [link] [comments]
On February 28, MarcoPolo Protocol hosted the third online AMA on MarcoPolo Protocol English Telegram group (https://t.me/MarcoPoloMAP) and they invited MarcoPolo Protocol Community Director Evan as our guest to answer questions from the community.
Here are the highlights from the AMA event, enjoy it.
#AMAwithEvan Question 1: I know MarcoPolo Protocol is expanding its market globally, could you tell us more about the current market situation?
MarcoPolo Protocol has been making individual operation and marketing plans for different countries and regions base on each of the local cultures. As of now, we have already had certain brand awareness and users in Turkey, South Korea, Vietnam, Indonesia, Russia, Brazil, and other countries.
Until now our main community numbers are as follows:
Korea: 3,000 +
#AMAwithEvan How about the individual country’s market situation such as Korea?
In the Korean market, we have cooperated with Coinpan, the largest and most authoritative forum in South Korea, to promote us on their platform. Our MAP introduction article ranked second in the "Coinpan hottest article". Furthermore, many other articles done by users to introduce MAP were being selected on the list several times. We are also reaching out with Cobak for partnership and will comprehensively promote us on most of the Korean blockchain mainstream media platforms.
South Korean media also have very enthusiastic reports for us:
#AMAwithEvan How about the Vietnamese market?
There are many investors in Vietnam who have a strong interest in us and are optimistic and supportive of us for a long time. They organize offline meetings, please check it:
#AMAwithEvan How about other countries?
Besides Vietnam and Korea, we have more Market action, such as Turkey, Russia, Indonesia, Nigeria, and more.
Turkish community has reached a cooperative relationship with Cointral, a local offline OTC platform, Kazancrehberi, the largest local community, as well as a number of companies under the well-known local projects MenaPay and Venture Capital;
And On January 28th, MarcoPolo Protocol was invited to the Cryptotalks conference hosted by cc media, our core developer Seebook attended the event and delivered a speech. More than100 audiences attended the event, here are some images from the event:
Below are some pictures of meeting up, which were warmly welcomed by the locals
#AMAwithEvan wow, that is a lot, is there more you want to add?
Indonesian community has reached strategic cooperation with Coinvestasi and Fanspage Pemburu Bitcoin Indonesia, two major blockchain media in Indonesian; here is the online KOL of Indonesia who introduced MarcoPolo Protocol
Russian community has docked with some Ada service providers for professional technical support and a professional service team to expand the Russian market online. we are also reported by Russia's biggest media crypto.russia.
We also received some support from Nigerian, they actively organized offline activities, thank you for your support
#AMAwithEvan Question 2: Has MarcoPolo Protocol work with any media?
In terms of PR, international media Yahoo Finance, and Russian media Cryptorussia，Turkey media BFmedia，has conducted PR reports with us. Each week, PR articles will be published on major websites, we have reached long-term relationships with more than 250 companies including but not limited to: Journal NBC, CBS, ABC, and FOX, etc.
Too many media report there, I can't show them all, please check here:
#AMAwithEvan Question 3: Could you tell us more about MAP Token?
MAP was launched on 08/11/2019, MarcoPolo Protocol (MAP) is a peer-to-peer electronic cash system infrastructure. It aims to achieve the blockchain world public chain TPS sharing and intelligent scheduling. The peer-to-peer electronic cash system aims to offer an unlimited expansion of TPS and optimal GAS fees.
Total Supply is 10 billion MAP, currently, it is listed on CoinMarketCap and CoinGecko, and available on Kucoin exchange.
Only 0.5% in circulation
MAP/USDT pair: https://www.kucoin.com/trade/MAP-USDT
MAP/BTC pair: https://www.kucoin.com/trade/MAP-BTC
The official website: https://www.marcopolo.link/
#AMAwithEvan Question 4: Could you tell us more about MarcoPolo Protocol community situation?
For the English community, one of our most important community, we have already had more than 120K users in Telegram groups. It is one of the most active blockchain groups. There are many MarcoPay loyal users. We will share MarcoPolp Protocol’s latest updates, tech progress, news, etc. You can ask any question in the group, our Angels will try their best to answer you. Also, you are welcome to make suggestions in the group. It is a fun group.
We are in this group😄. This is a community leading to freedom of wealth
#AMAwithEvan Question 5: After the MarcoPolo Protocol Community Reached 120,000 people, What is Next?
Next, we will mainly focus on South Korean, Vietnamese, Russian ，Indonesia and Turkish markets. We will support local community managers to host some meetups soon and we are cooperating with several big exchanges to list MAP.
We are cooperating with several big exchanges to list MAP. Stay tuned!
Right now, we are having a 50% Off BTC Launchpad on MarcoPolo Protocol event.
Here is the details information.
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After the MarcoPolo Protocol Community Reached 120,000 people, What is next? For the community, we will host more fun events and give more benefits to community members. Also, we will host AMA events weekly to keep a close connection between the project and users.
Don't forget to Purchase BTC at half price, this is a good chance to earn money.🤑
#AMAwithEvan Bonus Question 1 from Niom706, he asked: What is the future/Roadmap Of Marcopolo Protocol?
The First Stage 2019.Q1
The interoperability module Gravity has been developed, which realized useable interoperability between the third-generation public chain and high consensus digital currency such as BTC and ETH, will share computing power and performance gradually expand to more high-performance public chain through interoperability.
The Second Stage 2019.Q3
Online retail payment application - Marco Pay
POB Community Governance DAPP.
The Third Stage 2020.Q4 Interaction: Independently developed MarcoPolo main Network StandardChain will be launched, achieving APoS, On-chain governance, Architecture design of InteractChain.
The Third Stage 2020.Q4
Interaction: Independently developed MarcoPolo main Network StandardChain will be launched, achieving APoS, On-chain governance, Architecture design of InteractChain.
The Fourth Stage 2022.Q2
The realization of heterogeneous cross-chain operability, resource sharing between chains.
here is MarcoPolo Protocol official website: https://marcopolo.link/
#AMAwithEvan Bonus Question 2 From Lunox76, she asked: How do you anticipate a dump after MAPC swap?
Our marketing department will make a larger global market expansion in March.
The core technology team has also been developing products that contribute more to the blockchain industry.
This will promote our marketing, new investment, and commercial applications. It will bring an unprecedented increase, we are fully capable of accepting price dumps, and I predict that the map trading market in March will be larger. Big drops are impossible.
#AMAwithEvan Bonus Question 3 From u/Imamarifin90, he asked: What is the best plan for MAP holder? we all know BTC will halve in this May?
As I just said, we will do some big market activities and technological innovations before the Bitcoin halving in May comes.
This will promote our marketing, new investment, and commercial applications. It will bring an unprecedented increase,
we are fully capable of accepting price dumps, and I predict that the map trading market in March will be larger.
For MAP holders There will be a larger currency holding dividend system being released. Half-price bitcoin Launchpad is just the beginning. There will be more products that are more conducive to #built the price of MAP. We will also take out some market funds to ensure investors' Benefits are not lost.
Thank you all for joining the event, will host another AMA next week! See you next week.
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Airdrop, join it on Telegram at https://t.me/MarcoPay_Airdrop_Bot
💰Per Participant: 200 MAPC
💰Each Invite: 50 MAPC
💰You can withdraw MAPC to your wallet instantly and swap MAPC to MAP on MarcoPay
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1/ People often ask me why I’m so “against” Ethereum. Why do I go out of my way to point out flaws or make analogies that put it in a bad light?Intro
2/ First, ETH’s architecture & culture is opposite that of Bitcoin, and yet claims to offer same solutions: decentralization, immutability, SoV, asset issuance, smart contracts, …Agree! I personally find Ethereum culture far saner, though I am a bit biased :)
Second, ETH is considered a crypto ‘blue chip’, thus colors perception of uninformed newcomers.
3/ I've followed Ethereum since 2014 & feel a responsibility to share my concerns. IMO contrary to its marketing, ETH is at best a science experiment. It’s now valued at $13B, which I think is still too high.Not an argument
4/ I agree with Ethereum developer Vlad Zamfir that it’s not money, not safe, and not scalable. https://twitter.com/VladZamfistatus/838006311598030848 …I'm pretty sure Vlad would say the exact same thing about Bitcoin
@VladZamfir Eth isn't money, so there is no monetary policy. There is currently fixed block issuance with an exponential difficulty increase (the bomb).
5/ To me the first red flag came up when in our weekly hangout we asked the ETH founders about to how they were going to scale the network. (We’re now 4.5 years later, and sharding is still a pipe dream.)The core principles have been known for years, the core design for nearly a year, and details for months, with implementations on the way. So sharding is definitely not at the pipe dream stage at this point.
Ethereum's Joe Lubin in June 2014: "anticipate blockchain bloat—working on various sharding ideas". https://www.youtube.com/watch?v=oJG9g0lCPU8&feature=youtu.be&t=36m41s …
6/ Despite strong optimism that on-chain scaling of Ethereum was around the corner (just another engineering job), this promise hasn’t been delivered on to date.Sure, sharding is not yet finished. Though more incremental stuff has been going well, eg. uncle rates are at near record lows despite very high chain usage.
7/ Recently, a team of reputable developers decided to peer review a widely anticipated Casper / sharding white paper, concluding that it does not live up to its own claims.That review was off the mark in many ways, eg. see https://twitter.com/technocrypto/status/1071111404340604929, and by the way CBC is not even a prerequisite for Serenity
Unmerciful peer review of Vlad Zamfir & co's white paper to scale Ethereum: "the authors do NOT prove that the CBC Casper family of protocols is Byzantine fault tolerant in either practice or theory".
8/ On the 2nd layer front, devs are now trying to scale Ethereum via scale via state channels (ETH’s version of Lightning), but it is unclear whether main-chain issued ERC20 type tokens will be portable to this environment.Umm... you can definitely use Raiden with arbitrary ERC20s. That's why the interface currently uses WETH (the ERC20-fied version of ether) and not ETH
9/ Compare this to how the Bitcoin Lightning Network project evolved:Ok
elizabeth stark @starkness: For lnd: First public code released: January 2016 Alpha: January 2017 Beta: March 2018…
10/ Bitcoin’s Lightning Network is now live, and is growing at rapid clip.Sure, though as far as I understand there's still a low probability of finding routes for nontrivial amounts, and there's capital lockup griefing vectors, and privacy issues.... FWIW I personally never thought lightning is unworkable, it's just a design that inherently runs into ten thousand small issues that will likely take a very long time to get past.
Jameson Lopp @lopp: Lightning Network: January 2018 vs December 2018
11/ In 2017, more Ethereum scaling buzz was created, this time the panacea was “Plasma”.Yay, Plasma!
@TuurDemeester Buterin & Poon just published a new scaling proposal for Ethereum, "strongly complementary to base-layer PoS and sharding": plasma.io https://twitter.com/VitalikButerin/status/895467347502182401 …
12/ However, upon closer examination it was the recycling of some stale ideas, and the project went nowhere:Just because Peter Todd rejected something as "insecure" doesn't mean that it is. In general, the ethereum research community is quite convinced that the fundamental Plasma design is fine, and as far as I understand there are formal proofs on the way. The only insecurity that can't be avoided is mass exit vulns, and channel-based systems have those too.
Peter Todd @peterktodd These ideas were all considered in the Treechains design process, and ultimately rejected as insecure.
13/ The elephant in the room is the transition to proof-of-stake, an “environmentally friendly” way to secure the chain. (If this was the plan all along, why create a proof-of-work chain first?)Umm... we created a proof of work chain first because we did not have a satisfactory proof of stake algo initially?
@TuurDemeester "Changing from proof of work to proof of stake changes the economics of the system, all the rules change and it will impact everything."
14/ For the uninitiated, here’s a good write-up that highlights some of the fundamental design problems of proof-of-stake. Like I said, this is science experiment territory.And here's a set of long arguments from me on why proof of stake is just fine: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ. For a more philosophical piece, see https://medium.com/@VitalikButerin/a-proof-of-stake-design-philosophy-506585978d51
15/ Also check out this thread about how Proof of Stake blockchains require subjectivity (i.e. a trusted third party) to achieve consensus: https://forum.blockstack.org/t/pos-blockchains-require-subjectivity-to-reach-consensus/762?u=muneeb … and this thread on Bitcoin: https://www.reddit.com/Bitcoin/comments/59t48m/proofofstake_question/Yes, we know about weak subjectivity, see https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/. It's really not that bad, especially given that users need to update their clients once in a while anyway, oh and by the way even if the weak subjectivity assumption is broken an attacker still needs to gather up that pile of old keys making up 51% of the stake. And also to defend against that there's Universal Hash Time.
16/ Keep in mind that Proof of Stake (PoS) is not a new concept at all. Proof-of-Work actually was one of the big innovations that made Bitcoin possible, after PoS was deemed impractical because of censorship vulnerability.Oh I definitely agree that proof of work was superior for bootstrap, and I liked it back then especially because it actually managed to be reasonably egalitarian around 2009-2012 before ASICs fully took over. But at the present time it doesn't really have that nice attribute.
@TuurDemeester TIL Proof-of-stake based private currency designs date at least back to 1998. https://medium.com/swlh/the-untold-history-of-bitcoin-enter-the-cypherpunks-f764dee962a1 …
17/ Over the years, this has become a pattern in Ethereum’s culture: recycling old ideas while not properly referring to past research and having poor peer review standards. This is not how science progresses.Tuur Demeester added,I try to credit people whenever I can; half my blog and ethresear.ch posts have a "special thanks" section right at the top. Sometimes we end up re-inventing stuff, and sometimes we end up hearing about stuff, forgetting it, and later re-inventing it; that's life as an autodidact. And if you feel you've been unfairly not credited for something, always feel free to comment, people have done this and I've edited.
[email protected] has been repeatedly accused of /criticised for not crediting prior art. Once again with plasma: https://twitter.com/DamelonBCWS/status/895643582278782976 …
18/ One of my big concerns is that sophistry and marketing hype is a serious part of Ethereum’s success so far, and that overly inflated expectations have lead to an inflated market cap.Ok, go on.
19/ Let’s illustrate with an example....
20/ A few days ago, I shared a critical tweet that made the argument that Ethereum’s value proposition is in essence utopian....
@TuurDemeester Ethereum-ism sounds a bit like Marxism to me:
- What works today (PoW) is 'just a phase', the ideal & unproven future is to come: Proof-of-Stake.…
21/ I was very serious about my criticism. In fact, each one of the three points addressed what Vitalik Buterin has described as “unique value propositions of Ethereum proper”. https://www.reddit.com/ethereum/comments/5jk3he/how_to_prevent_the_cannibalism_of_ethereum_into/dbgujr8/ …...
22/ My first point, about Ethereum developers rejecting Proof-of-Work, has been illustrated many times over By Vitalik and others. (See earlier in this tweetstorm for more about how PoS is unproven.)See above for links as to why I think proof of stake is great.
Vitalik Non-giver of Ether @VitalikButerin: I don't believe in proof of work!
23/ My second point addresses Ethereum’s romance with the vague and dangerous notion of ‘social consensus’, where disruptive hard-forks are used to ‘upgrade’ or ‘optimize’ the system, which inevitably leads to increased centralization. More here:See my rebuttal to Tuur's rebuttal :)
24/ My third point addresses PoS’ promise of perpetual income to ETHizens. Vitalik is no stranger to embracing free lunch ideas, e.g. during his 2014 ETH announcement speech, where he described a coin with a 20% inflation tax as having “no cost” to users.Yeah, I haven't really emphasized perpetual income to stakers as a selling point in years. I actually favor rewards being as low as possible while still being high enough for security.
25/ In his response to my tweet, Vitalik adopted my format to “play the same game” in criticizing Bitcoin. My criticisms weren't addressed, and his response was riddled with errors. Yet his followers gave it +1,000 upvotes!Ok, let's hear about what the errors are...
Vitalik Non-giver of Ether @VitalikButerin: - What works today (L1) is just a phase, ideal and unproven future (usable L2) is to come - Utopian concept of progress: we're already so confident we're finished we ain't needin no hard forks…
26/ Rebuttal: - BTC layer 1 is not “just a phase”, it always will be its definitive bedrock for transaction settlement. - Soft forking digital protocols has been the norm for over 3 decades—hard-forks are the deviation! - Satoshi never suggested hyperbitcoinization as a goal.Sure, but (i) the use of layer 1 for consumer payments is definitely, in bitcoin ideology, "just a phase", (ii) I don't think you can make analogies between consensus protocols and other kinds of protocols, and between soft forking consensus protocols and protocol changes in other protocols, that easily, (iii) plenty of people do believe that hyperbitcoinization as a goal. Oh by the way: https://twitter.com/tuurdemeestestatus/545993119599460353
27/ This kind of sophistry is exhausting and completely counter-productive, but it can be very convincing for an uninformed retail public.Ok, go on.
28/ Let me share a few more inconvenient truths....
29/ In order to “guarantee” the transition to PoS’ utopia of perpetual income (staking coins earns interest), a “difficulty bomb” was embedded in the protocol, which supposedly would force miners to accept the transition.The intended goal of the difficulty bomb was to prevent the protocol from ossifying, by ensuring that it has to hard fork eventually to reset the difficulty bomb, at which point the status quo bias in favor of not changing other protocol rules at the same time would be weaker. Though forcing a switch to PoS was definitely a key goal.
30/ Of course, nothing came of this, because anything in the ETH protocol can be hard-forked away. Another broken promise.How is that a broken promise? There was no social contract to only replace the difficulty-bombed protocol with a PoS chain.
Tuur Demeester @TuurDemeester: Looks like another Ethereum hard-fork is going to remove the "Ice Age" (difficulty increase meant to incentivize transition to PoS). https://www.cryptocompare.com/coins/guides/what-is-the-ethereum-ice-age/ …
32/ This was criticized by P2P & OS developers as a reckless notion, given that every smart contracts is actually a “de novo cryptographic protocol”. In other words, it’s playing with fire. https://bitcointalk.org/index.php?topic=1427885.msg14601127#msg14601127 …See above
33/ The modular approach to Bitcoin seems to be much better at compartmentalizing risk, and thus reducing attack surfaces. I’ve written about modular scaling here...To be fair, risk is reduced because Bitcoin does less.
34/ Another huge issue that Ethereum has is with scaling. By putting “everything on the blockchain” (which stores everything forever) and dubbing it “the world computer”, you are going to end up with a very slow and clogged up system.We never advocated "putting everything on the blockchain". The phrase "world computer" was never meant to be interpreted as "everyone's personal desktop", but rather as a common platform specifically for the parts of applications that require consensus on shared state. As evidence of this, notice how Whisper and Swarm were part of the vision as complements to Ethereum right from the start.
Christopher Allen @ChristopherA: AWS cost: $0.000000066 for calc, Ethereum: $26.55. This is about 400 million times as expensive. World computer? https://hackernoon.com/ether-purchase-power-df40a38c5a2f …
35/ By now the Ethereum bloat is so bad that cheaply running an individual node is practically impossible for a lay person. ETH developers are also imploring people to not deploy more smart contract apps on its blockchain.Umm.... I just spun up a node from scratch last week. On a consumer laptop.
Tuur Demeester @TuurDemeester: But... deploying d-apps on the "Ethereum Virtual Machine" is exactly what everyone was encouraged to do for the past 4 years. Looks like on-chain scaling wasn't such a great idea after all.
36/ As a result, and despite the claims that running a node in “warp” mode is easy and as good as a full node, Ethereum is becoming increasingly centralized.See above
@TuurDemeester Finally a media article touching on the elephant in the room: Ethereum has become highly centralized. #infura https://www.coindesk.com/the-race-is-on-to-replace-ethereums-most-centralized-layeamp?__twitter_impression=true …
37/ Another hollow claim: in 2016, Ethereum was promoted as being censorship resistant…Yes, the DAO fork did violate the notion of absolute immutability. However, the "forking the DAO will lead to doom and gloom" crowd was very wrong in one key way: it did NOT work as a precedent justifying all sorts of further state interventions. The community clearly drew a line in the sand by firmly rejecting EIP 867, and EIP 999 seems to now also be going nowhere. So it seems like there's some evidence that the social contract of "moderately but not infinitely strong immutability" actually can be stable.
Tuur Demeester @TuurDemeester: Pre TheDAO #Ethereum presentation: "uncensorable, code is law, bottom up". http://ow.ly/qW49302Pp92
38/ Yet later that year, after only 6% of ETH holders had cast a vote, ETH core devs decided to endorse a hard-fork that clawed back the funds from a smart contract that held 4.5% of all ETH in circulation. More here: ...See above
39/ Other potential signs of centralization: Vitalik Buterin signing a deal with a Russian government institution, and ETH core developers experimenting with semi-closed meetings: https://twitter.com/coindesk/status/902892844955860993 …,Suppose I were to tomorrow sign up to work directly for Kim Jong Un. What concretely would happen to the Ethereum protocol? I suspect very little; I am mostly involved in the Serenity work, and the other researchers have proven very capable of both pushing the spec forward even without me and catching any mistakes with my work. So I don't think any argument involving me applies. And we ended up deciding not to do more semi-closed meetings.
Hudson Jameson @hudsonjameson: The "semi-closed" Ethereum 1.x meeting from last Friday was an experiment. The All Core Dev meeting this Friday will be recorded as usual.
40/ Another red flag to me is the apparent lack of relevant expertise in the ETH development community. (Check the responses…)I personally am confident in the talents of our core researchers, and our community of academic partners. Most recently the latter group includes people from Starkware, Stanford CBR, IC3, and other groups.
Tuur Demeester @TuurDemeester: Often heard: "but Ethereum also has world class engineers working on the protocol". Please name names and relevant pedigree so I can follow and learn. https://twitter.com/TuurDemeestestatus/963029019447955461 …
41/ For a while, Microsoft veteran Lucius Meredith was mentioned as playing an important role in ETH scaling, but now he is likely distracted by the failure of his ETH scaling company RChain. https://blog.ethereum.org/2015/12/24/understanding-serenity-part-i-abstraction/ …I have no idea who described Lucius Meredith's work as being important for the Serenity roadmap.... oh and by the way, RChain is NOT an "Ethereum scaling company"
42/ Perhaps the recently added Gandalf of Ethereum, with his “Fellowship of Ethereum Magicians” [sic] can save the day, but imo that seems unlikely...Honestly, I don't see why Ethereum Gandalf needs to save the day, because I don't see what is in danger and needs to be saved...
43/ This is becoming a long tweetstorm, so let’s wrap up with a few closing comments.Yay!
44/ Do I have a conflict of interest? ETH is a publicly available asset with no real barriers to entry, so I could easily get a stake. Also, having met Vitalik & other ETH founders several times in 2013-’14, it would have been doable for me to become part of the in-crowd.Agree there. And BTW I generally think financial conflicts of interest are somewhat overrated; social conflicts/tribal biases are the bigger problem much of the time. Though those two kinds of misalignments do frequently overlap and reinforce each other so they're difficult to fully disentangle.
45/ Actually, I was initially excited about Ethereum’s smart contract work - this was before one of its many pivots.Ethereum was never about "smart BTC contracts"..... even "Ethereum as a Mastercoin-style meta-protocol" was intended to be built on top of Primecoin.
Tuur Demeester @TuurDemeester: Ethereum is probably the first programming language I will teach myself - who wouldn't want the ability to program smart BTC contracts?
46/ Also, I have done my share of soul searching about whether I could be suffering from survivor’s bias.Ok, good.
@TuurDemeester I just published “I’m not worried about Bitcoin Unlimited, but I am losing sleep over Ethereum” https://medium.com/p/im-not-worried-about-bitcoin-unlimited-but-i-am-losing-sleep-over-ethereum-b5251c54e66d …
47/ Here’s why Ethereum is dubious to me: rather than creating an open source project & testnet to work on these interesting computer science problems, its founders instead did a securities offering, involving many thousands of clueless retail investors.What do you mean "instead of"? We did create an open source project and testnet! Whether or not ETH is a security is a legal question; seems like SEC people agree it's not: https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not-securities-but-some-cryptocurrencies-may-be-sec-official-says.html
48/ Investing in the Ethereum ICO was akin to buying shares in a startup that had “invent time travel” as part of its business plan. Imo it was a reckless security offering, and it set the tone for the terrible capital misallocation of the 2017 ICO boom.Nothing in the ethereum roadmap requires time-travel-like technical advancements or anything remotely close to that. Proof: we basically have all the fundamental technical advancements we need at this point.
49/ In my view, Ethereum is the Yahoo of our day - an unscalable “blue chip” cryptocurrency:Got it.
Tuur Demeester @TuurDemeester: 1/ The DotCom bubble shows that the market isn't very good at valuing early stage technology. I'll use Google vs. Yahoo to illustrate.
50/ I’ll close with a few words from Gregory Maxwell from 2016,: https://bitcointalk.org/index.php?topic=1427885.msg14601127#msg14601127 …See my rebuttal to Greg from 2 years ago: https://www.reddit.com/ethereum/comments/4g1bh6/greg_maxwells_critique_of_ethereum_blockchains/
On October 26, 2019, the 1st South China Blockchain Development Alliance Forum was held as scheduled at the Guangzhou Blockchain International Innovation Center and achieved a complete success.submitted by RootkeyBC to u/RootkeyBC [link] [comments]
It was jointly organized by Rootkey News and UNI, supported by Asian Blockchain Institute and Hong Kong Blockchain Industry Association and NEO, Rootkey Capital, Royal Hub, Block Global, everiToken, Ethereum Classic, ToDo Black, CITEX, AEX, PROBIT, CoinBene, Crypto Capital, Acceleration of Capital, The Art Age of Blockchain, and A.TOP.
Present were NEO EcoGrowth Manager Nigel, everiToken CMO Liu Xiaodong, CoinBene Shen Xiaojun, Crypto Capital Founder Zhang Jun, Aex CMO Xiao Fengxian, ToDo Black CMO Liu Xiaoyi, AI Master CEO yongkun, Rootkey News founder Lily, Rootkey Capital founder and UNI co-founder MAC Cui, UNI co-founder Huang Chongzhe, UNI co-founder Jiangnan and many other guests and UNI fans. Focused on the economic integration and innovation of blockchain, the conference discussed the current exchanges’ breakthrough and development, and UNI ecological achievements and future layout.
At the beginning of the meeting, Lily delivered an opening speech. She said the development of the blockchain industry can’t do without everyone’s joint efforts. As blockchain media, Rootkey News has always been voicing for blockchain in its own unique way. Well, UNI, the recent star project will lead the industry to be practical. In the end, Lily extended a warm welcome to all guests.
Lily-Founder of Rootkey News
Keynote SpeechAs a special speaker invited by UNI, NEO EcoGrowth Manager Nigel delivered a keynote speech with many interesting words. Everyone at present had a deeper understanding of NEO Ecology. It is believed that NEO will become a developer-friendly public chain.
Nigel-Manager of NEO EcoGrowth
Sunny, the founder and CEO of UNI, presented a keynote speech entitled “Towards a Non-inductive Blockchain”. In the speech, Sunny shared the ecology that UNI has already deployed and will deploy. He said that non-inductive blockchain might be an easy way for ordinary users to understand the blockchain in this era.
Sunny-Founder and CEO of UNI
Round-table ForumsThere were two round-table forums with the theme of integration and innovation respectively.
The first forum’s theme was the Integrated Development of Digital Economy and Real Economy. Guests are UNI’s founder Sunny, NEO Ecology Nigel, everitoken CMO Zheng Xiaofeng and Denghuo Blockchain Zhang Hongbin.
MAC Cui, Sunny, Zheng Xiaofeng, Zhang Hongbin, Nigel
At first, four guests expressed their opinions on the current industry chaos and how blockchain technology could integrate the real economy. Then, they gave an analysis of the core competitiveness of the blockchain project and how to achieve corner overtaking and put forward their own views on how to create a new economic model. Finally, everyone talked about the good combination project of blockchain technology and finance.
Some words from forum one:
Sunny: “UNI has only one goal. That is to create a Non-inductive blockchain ecosystem.” Nigel: “Only by lowering the development threshold can we maximize the application of blockchain.” Zheng Xiaofeng: “Source-tracing solves the trust problem. The only blockchain can compete with AI.” Zhang Hongbin: “Bitcoin will be 200,000 by the end of 2019.”Forum Two
The second forum’s theme was the New Financial Ecology under the Blockchain. Guests were Crypto Capital Zhang Jun, AI Master CEO yongkun, CoinBene Shen Xiaojun and AEX CEO Xiao Fengxian.
Jiangnan, Zhangjun, Shen Xiaojun, yongkun, Xiao Fengxian
At first, the four guests discussed the ways of making breakthroughs when facing exchange homogenization. Then, they expressed their views on how small exchanges could survive under the increasingly obvious monopoly and put forward their opinions on the core competitiveness of digital currency financial management. Finally, they mentioned specific issues such as exchange currency, compliance, globalization, and DEX, etc.
Some words from forum two:
Zhang Jun: “Once the regular exchanges enter the market, the small ones will soon be eliminated, and it will be more intense in this field.” yongkun: “The island effect on the current exchange is obvious. The most promising is the aggregate exchange.” Shen Xiaojun: “The goal of CoinBene is to achieve exchange compliance and only recommend quality projects.” Xiao Fengxian: “AEX’s vision is to grow up as a century-old exchange. We adhere to the long-term philosophy of ‘focusing on long-term goals and being a long-term leader’. We give high priority to users’ interests. All decisions will be around whether it can provide users with better trading services.”
Signing CeremonyUNI and NEO had reached an agreement on technology and ecology on October 24th. The later will convert its token based on NEO token standard nep-5. At the same time, NEO will assist UNI to jointly promote cross-chain and applicable scenarios. UNI and everiToken reached ecological cooperation on cross-chain research and community building, etc.
Sunny and Nigel
Sunny and Zheng Xiaofeng
ConclusionThe happy ending of this forum is inseparable from the support of all staff, partners, and guests. Let me express thanks to the following organizers and co-organizers for their support.
submitted by crypt0hodl1 to PundiX [link] [comments]
We’re close to capping the first half of the year, but we assure you that Pundi X has barely scratched the surface in terms of what we can offer in 2019. A lot of works are in progress which we will announce when ready. Nonetheless, we have achieved some very promising milestones for the past few weeks, further highlighting our commitment to bringing easy payments and unparalleled crypto experience to our clients. More product enhancements, merchant activation, greater engagements, and higher security standards — these are what we have delivered last month.
Product DevelopmentXPOS certified by FCC and KC
We are proud to announce that XPOS received certifications from the Federal Communications Commission (FCC) and Korea Certification (KC), on top of the certification it has already received from CE and TRA. These certifications will certainly help build XPOS a trustworthy blockchain device as these markings indicate that from a safety and environmental protection perspective the XPOS can confidently be used by their customers.
Pundi X Open Platform is available for token listing from May 11
At the beginning of the month (1st May) we’ve launched Pundi X Open Platform that allows blockchain developers or businesses to sign up for a developer account to list their ERC20 tokens throughout XPOS, XWallet and XPASS. Not only that, now the developers have the option to create customized XPASS cards. To learn more about how to list on the Open Platform, you can read the instruction here.
NPXS buy back to incentivize quality blockchain developers to list on the Pundi X Open Platform
After announcing Pundi X Open Platform, the team has allocated the tokens from the Partnership Reserve Fund (PRF) to encourage good blockchain projects to list on Pundi X payment platform by subsidizing their initial liquidity pools. The source of PRF is the NPXS that we buy back from the open markets. On May 20, we executed NPXS buybacks equivalent to 500 ETH at around $0.00072 dollars on May 20, 2019.
This month we continue improving XWallet by adding more features and support. Here is a list of improvements we made in May:
We’ve also working hard to make XWallet app on more platform. It is now available on Samsung Galaxy Store.
You can use XWallet app for not only topping up and paying cryptos instantly with XPOS merchants across 30 countries but also sending tokens to any XWallet user in the world without fee when the receiver uses the ‘Collection’ feature. Most of XWallet users are also using staking feature from both XWallet and their own ERC20 private wallets to get FX tokens.
As of today, XWallet has more than 200,000 registered users and growing.
Merchant Adoption and XPOS partner updateDoshEx brought crypto payment to coffee shops in South Africa
Dosh Exchange is now expanding their XPOS footprint to coffee shops in South Africa. Pundians can now enjoy the best coffee in town using XPOS. XPASSes can also be bought in-store and used at the counter immediately.
iBank introduced Cao Jun XPASS card during New York Blockchain week
Limited editions of Cao Jun XPASS card powered by Pundi X and IOST have made its first appearance during a Night at BlockchainImpact event on May 15 during the blockchain week in New York. The cocktail gathered Limited Partners (LPs) and General Partners (LPs), family offices, corporate investment offices, and individuals for networking opportunities and blockchain investments. To get the limited editions of CaoJun XPASS cards, you can order them at https://www.ibankdigital.io/ibankxpass
Pundi X and BlockVibe
Thanks to BlockVibe’s cryptocurrency savvy members, Pundi’s XPOS system will now be available in more businesses in the future. This new partnershipwill not only bring cryptocurrency closer to becoming a mainstream form of payment, but will also cement Pundi X’s crucial role in helping realize this possibility.
BlockVibe has successfully held an event on the Korean American Chamber. In this event, XPOS has been introduced to the participants. In the near future, there will be more and more XPOS merchants activated by BlockVibe.
Bit2Big in Blockchain Summit Nigeria
On 24th May, the CEO of Bit2Big and blkchainafrica, Mr Kiberu Nagenda was presenting at BlockchainSummit Nigeria. Summit participants can also experience the transaction via XPOS devices.
Pundi X EventsPundi X at the BitConfBR in Sao Paulo
Pundi X Brazil team had an action-packed weekend at BitconF held from 6 to 9 May. Attendees headed to our stand and top up cryptos in their XPASS cards and XWallet, while learning more about our company and our advanced XPOS technology.
La Conexion Conference in Medellin
During 21–22 May 2019, Brazil Country Manager of Pundi X Joao Victor Mendes attended the La Conexion Conference held at Country Club Medellin, Colombia. Joao discussed the adoption of digital assets and their direct impact on the retail industry, in light of the huge potential for blockchain development in Latin America.
Keynote at Blockchain Finance Conference, APAC in Singapore
On May 8 2019, Vic Tham, CEO of Quantum Energy Asset Management and Chief Investment Officer of Pundi X Labs was a speaker at Blockchain for Finance Conference, APAC. Vic Tham has delivered keynote regarding investing in Blockchain or Fintech startups.
Bitcoin Pizza Day
On 22 May 2010, programmer Laszlo Hanyecz bought two pizzas for 10,000 bitcoins. Known as the first real-world transaction with bitcoin, this event paved the way for greater exploration into the world of crypto payments. To learn more about the history, you can read the revolution of cryptocurrency payment at CoinMarketCap.
Pundi X is grateful to be a part of this massive revolution, and of course we celebrated the day by satisfying some Bitcoin Pizza Day-induced cravings. We partnered with Papa John’s in Seoul and offered pizza discounts to anyone who used their XWallets to purchase from the store as well as hosting a 24 hour online XPOS flash sale.
XBlockchain Meetup in Seoul
The following day in Seoul, we held an XBlockchain Meetup with Function X Foundation and Dapp.com. In the meetup, we have shared the update and ongoing R&D progress, including upcoming integration with Binance Chain and new social networking service on Function X ecosystem, FX Thread (code name). XWallet users will be the first to preview and test this service before the launch of XPhone.
David Ben Kay, Chief Legal Counsel of Pundi X, has officially onboard to lead Function X Foundation. He shared the foundation vision and status of Function X development in this meetup.
InnoVEX Forum in Taipei
On May 30, I had the honor to be invited to deliver keynote about blockchain for smart payment at InnoVEX, one of Asia’s leading startup platforms in conjunction with Computex 2019 and later participated the panel led by Jason Hsu, Taiwan’s Crypto Congressman with Dominik Schiener from IOTA and Jeff McDonald from NEM Foundation.
Pundi X joins the Blockchain Collaborative Consortium in Japan
Japan-based Blockchain Collaborative Consortium (BCCC) welcomed Pundi X on 27 May, in a step for us to engage Japanese institutions and regulations and develop awareness around blockchain. According to BCCC, they promote the widespread adoption of blockchain technology, particularly through the acquisition of latest information and basic knowledge of blockchains, training of engineers and planners, formation of network willingness of practical experiments and implementation, and the implementation of blockchain related business to be widely notified to the market and the adoption of blockchain to various businesses.
The crypto space in Japan is growing at a desirable rate, and we are hopeful that Pundi X will be one of the frontliners in helping BCCC achieve its goals.
NPXS token removalhttps://preview.redd.it/xhwud1tuhv231.png?width=699&format=png&auto=webp&s=ae5b9e62f58668d382d89557da1ec0f6ef4aa30a
Pundi X team has executed the token removal as planned on May 11, 2019. A total of approximately 14.5 billion (7.59 billion of NPXS and 6.95 billion of NPXSXEM) have permanently removed from the supply. You can check the details here.
Monthly unlock token mechanism is completedThe monthly unlock tokens came to an end on May 31 as announced. The team will complete the last batch of unlock NPXS and NPXSXEM by mid June. After that, there will be no monthly unlock tokens.
For the KYC verified NPXS/NPXSXEM XWallet users, don’t forget you have the option to hold your NPXS/NPXSXEM to stake for FX tokens till March 19, 2020.
That’s all for the highlights of Pundi X Insider in May. Hope you enjoy our progress. I look forward to sharing our next update in June!
Hi everyone! Here’s your week at Parachute + partners (27 Sep - 3 Oct'19):submitted by abhijoysarkar to ParachuteToken [link] [comments]
ParGas went live this week. From now on, you will get an additional option to pay for gas in $PAR when making ERC20 withdrawals from ParJar. Epic! Read all about it here. In this week’s Parena, Samuel defeated Martha in a quick finale to take home the lion’s share of the 100k $PAR pot. The #PAR4PAR contest entered stage 4. 200k $PAR in prizes. Insane! In this week’s Tiproom trivias, Ridwan hosted a 10 question quiz for 25k $PAR in total. There was another Math trivia for 25k $PAR more. Sweet! Doc Victor hosted a Champions League wager for 50 participants with a 10k $PAR pool.
This PAR logo is entirely made using ASCII code. Courtesy: Jose
Tiproom #mememania winners. Alimam and Rogel were tied in 1st place
The winner of the USD 500 BTC aXpire contest was announced this week. Congratulations to yo*******[email protected]! Rohit and my article on how Big Co and Big Guv is using blockchain was published in Altcoin Magazine. Week 39 update from the aXpireverse can be seen here. The weekly 20k $AXPR burn went ahead like clockwork. The latest 2gether app update now allows you to send $BTC and $ETH from your account to any wallet. Noice! The team, in the midst of shifting offices, set up camp at South Summit where 2gether is one of the finalist startups. Click here, here and here for pictures. As a finalist at the Summit, CEO Ramon got the opportunity to deliver a pitch to attendees. Plus interviews by Emprendiendo.TV and Funontheride. Great! The WednesdayClub dApp continues to airdrop $WED tokens every Wednesday. Make sure to get in on the action.
Parachute HQ recently shifted to the WeWork Navy Yards in NYC. Beautiful
XIO’s Binance Dex listing proposal* was submitted this week. For listing on the Dex, all projects submit detailed proposals and answer questions from the Binance Node operator community who then evaluate and decide on the listing. Read more about it here. Plus, there’s a hint of an $XIO doubling opportunity in there. The full roadmap (XIO Atlas) was also released with the proposal. An updated promo video came out as well. $XIO distribution to the giveaway winners was completed this week. In this week's discussion threads, Zachary talks about leverage, ERC20-BEP2 bridge, XIO capital and how many native tokens will incubated startups share with XIO citizens. The $BOMB Instagram is now handled by the community. So the BOMB Board opened up a proposal form for opinions from the community on how best to manage it.
\[As shared in last update, the switch to Binance Chain has been shelved. $XIO will stay on Ethereum. But there will still be a token swap. Details will be shared in a later update]*
Two updates back we saw the WIP version. Here’s the full version of XIO Atlas
The $ETHOS token will be rebranding to Voyager ($VGX). The new token will be unveiled in November. Please note that there is no contract swap. This will simply be a rename. You can read more about it here. The bitcointalk Ann goes into even more details on the rebranded token’s use-cases. Understandably, there were lots of questions that came up. So the team arranged an AMA. If you missed it, check out the FAQ. Voyager also received investment from Thrust Capital through a private placement this week. Nice! Congratulations to Bounty0x for getting accepted to the Berkeley Blockchain Xcelerator program. This is huge! The latest update is a great summary the past quarter @Bounty0x – reaching minimum fund raise goal on Republic, new features like Admin Notes, $BNTY staking, integration with Bloom and KABN etc. Fantom hosted an AMA with G.Crypto this week. CMO Michael shared a formalised roadmap article as well to answer all “when” questions. Plus, click here for some cool pics from CryptoBazar Serial Hacking meetup which the $FTM team attended. Uptrenndians, don’t forget to read the $1UP tokenomics update. It explains how the token velocity will work in a way such that everyone gets an equal opportunity at stacking $1UPs no matter when they join. BTW, if you didn’t notice yet, Uptrenndian made it to the Urban Dictionary. You can vote to keep it there forever. Let’s go! One way to beat Monday morning blues is a healthy dose of Meme Mondays while watching the site climb up the Alexa rankings. Haha. And finally, the team announced a partnership with Xord who will work on the blockchain solutions on the platform.
Parachute investor deck sneak peek
Mycro conducted KYC for bounty hunters and started a campaign to stop fake entries. OST-backed Pepo app moved to the first live beta stage this week as a precursor to a formal beta launch and presentation at Ethereum DevCon5 in Osaka next week. The team also shared details of how to hop in for a free Shabu Shabu dinner and pub crawl for Pepo beta users at DevCon5. And on top of that, a massive bounty for sharing IRL experiences on Pepo. Dang! Another bounty for usability testing of Pepo with the UX Team was also launched. 3k $OST for each selected participant. Say what! The OST-backed LGBT token now has 4k+ users thanks to the Hornet app. Well done! SelfKey announced a partnership with social watching platform Livetree for providing them KYC compliance solutions during onboarding process. Make sure to read the post to find out how to get a 90-day free subscription on the platform. If you haven't yet watched Constellation advisor and former Sanrio CEO Ray Rehito Hatoyama's interview with Co-Founder Benjamin Jorgensen, you can read about it in The Daily Chain's detailed coverage. If you're a $DAG node operator, this tweet will be of interest to you. Hint: onboarding has started. Folks who missed Constellation's AMA with tehMoonwalkeR can catch up from the transcript. And finally, Arena Match hosted a flash giveaway. Eagle eyed fans got their hands on some sweet $AMGO!
Pepo ready to make waves at DevCon5
The month gone by at Opacity saw a 20% increase in new accounts and a ~20% return rate on the site. Read more performance metrics from CEO Jason’s round up article. This month will see a slew of new features like integrated gift card payments, plan upgrades, folder upload etc. A productive community doesn’t stop BUIDLing. Check out ImgOpq which is a community run imageboard that works with public Opacity handles. Fun! Catch up on the latest at District0x from the weekly and dev update. Plus, a shoutout to Ethlance from Jaide of Cryptalk was pretty cool. More partners joined the Hydro dApp store this week including Temporal, MESG and Colony. Hydrogen won the USA Nationals of the BBVA Open Talent Award which is one of the world’s largest fintech startup competitions. As a result, the team won the opportunity to present at the BBVA Open Summit in Madrid. Co-Founder Mike travelled to the World Blockchain Forum Conference in NYC to speak on Libra vs Hydro and data privacy. The South African Reserve Bank shortlisted Hydro for an accelerator programme in South Africa which will culminate in a Demo Day at the end of the month. Two winners from the Demo Day will be chosen who will get to pitch at the Singapore Fintech Festival and receive funding. Good Luck! To read a quick dev update, click here. The Sentivate community voted on whether to burn $SNTVT tokens or host a raffle. One way to participate in the vote was by signing a message through one’s wallet. How? Read this to find out. Chico Crypto’s deep dive interview with Founder Thomas Marchi was released this week. Continuing with last week’s discussion on universal domain system, this week we learned about how Domain Information Service works in the Universal Web.
And with that, it’s a close for this week at Parachute. Cheerio!
submitted by QuarkChain to quarkchainio [link] [comments]
The author is a QuarkChain scientist, Professor of Xi’an Jiaotong University
The most recent big news is that China’s Libra, cryptocurrency digital Yuan is coming. On a forum held on August 10, the deputy director for payments at the People’s Bank of China (PBoC), Mu Changchun, mentioned that PBoC will issue its own cryptocurrency. After reading the related information, I was impressed by PBoC’s provision for the future (they actually started researching cryptocurrency since 2014). What astonished me more is that PBoC’s future demands to support cryptocurrency coincide exactly with a present public chain project, QuarkChain.
There have already been lots of articles discussing the significance of the Digital Yuan. In this article, we focus on the features of the required network technology that Mu mentioned, to find out what the digital network, which can both support the Digital Yuan and meet the requirements of over a population of 1 billion, looks like.
I: High concurrencyMu said, “There is an issue. Since our cryptocurrency is M0 replacement, if we want to reach a retail level, first of all, high concurrency is a problem which can not be avoided. During the Double 11 shopping carnival last year, the trading summit of NetsUnion reached 92771 per second. In comparison, for Bitcoin, it’s 7 transactions per second, and for ETH, it’s 10 to 20 transactions per second. According to the white paper released by Libra, it’s 1000 transactions per second.
Because the Digital Yuan needs to reach a retail level, it asks the platform for a high trading processability, targeting a rate of 100,000 TPS（Transactions Per Second). High TPS is a significant characteristic of QuarkChain, which makes it exceed Ethereum. During a TPS competition held by QuarkChain last year, developers used the open-source programme of QuarkChain to achieve a rate of a 50,000 TPS. Besides, thanks to the horizontal scalability of QuarkChain’s state sharding solution, it is ready to realize a rate of 100,000 TPS by adding more shards.
II: A Two-layer Structure Brings High AdaptabilityMu mentioned in his talk, “China is a complicated economy entity with a vast territory and a large population. The economic development, the resource distribution, and the educational level of different regions, as well as the level of accepting the smart terminals, are quite different. Thus, it’s a complicated but systematic project for the economy entity to launch an official digital currency. Adopting a single-layer operating structure means that the PBoC has to face the public by itself. It will bring great challenges for PBoC during such a circumstance. Considering improving availability as well as enhancing the public’s willingness to use it, we think a two-layer operation structure should be adopted to overcome the difficulties.”
Users who are familiar with QuarkChain must be familiar with its two-layer structure. There is a root chain in QuarkChain which is responsible for providing the network security while each shard is focusing on processing every transaction. The shard chains can be heterogeneous and each shard chain can have different characteristics which can custom-make according to different scenarios.
In consideration of the fact that “China is a complicated economy entity with a vast territory and a large population. The economic development, the resource distribution, and the educational level of different regions, as well as the level of accepting the smart terminals, are quite different.” It is very complicated to satisfy each real business scenario and it is difficult to provide a one-size-fits-all solution by only one single consensus. Only enough flexibility and specific adjustment can provide the best solutions. QuarkChain’s two-layer structure heterogeneous shards for different purposes.
Besides, just as Director Mu mentioned, a two-layer structure is conducive not only to leveraging business institutions’ advantages of resources, talents, and technology, but also to promote innovation and competition selection. It also helps to dissolve risks and avoid over-centralization of risks. In addition, it prevents the asset price rises caused by financial disintermediation to increase the cost of financing and harm the entity economy. QuarkChain’s two-layer structure can perfectly support the Digital Yuan to realize the governance goal.
III: AnonymityMu mentioned, “Electronic payments such as bank cards and internet payment are payment coupling with the existing bank accounts. Public’s requirements of anonymous payment can not be satisfied completely. Thus, electronic payments can not replace M0 completely. The design of Digital Yuan not only remains the nature and main characteristics of the present currency but also meets the requirement of being portable and anonymous, which makes it a better tool to replace the present currency. “
“For Digital Yuan, the accounts are loosely coupled. That means to realize the value transfer from traditional bank accounts，the transaction processes less rely on the account information. In this way, Digital Yuan is easy to circulate like cash, which is good for RMB’s circulation and internationalization. It can also realize controllable anonymity at the same time. We need to ensure that both sides of the transaction are anonymous and guarantee the San Fan ( anti-money-laundering, anti-terrorist financing, and anti-tax evasion), we need to strike a balance between the two.
The goal of Digital Yuan is to replace M0. To achieve this goal, we need to accomplish the task which is impossible for the present online payment system. The fact that the bank cards and internet payments are tightly coupled with present bank accounts can not satisfy the public’s requirement of anonymous payment. Thanks to QuarkChain’s great flexibility of its understructure, each shard chain can be deployed with unique characteristics. Shards with a high level of anonymity have already been under development.
IIII: Support Smart ContractsMu expressed in the later half of his talk, “One thing I’d like to emphasize is the attitude towards smart contracts. Digital Yuan is able to load smart contracts.” “We will load smart contracts which benefit the currency function.” If you follow our latest technology development, you will get to know that QuarkChain is the very first to support deploying cross-shard smart contracts among all the sharding projects. It is a great technological challenge to deploy cross-shard smart contracts. QuarkChain has upgraded to the newest EVM, making QuarkChain compatible with the most mainstream smart contract.
Finally, let us summarize Director Mu’s expectations for future Digital Yuan, which also represents PBoC’s demands. The requirements are: high scalability, high TPS, smart contracts supportive, anonymous and easily regulated by PBoC. We are proudly to say that QuarkChain is a perfect fit.
AttachedThe whole content of the speech delivered by Mu Changchun, deputy director for payments at the People’s Bank of China (PBoC), during the 3rd China Finance 40 Summit in Yichun.
Website：https://www.quarkchain.io Telegram：https://t.me/quarkchainio Twitter：https://twitter.com/Quark_Chain Medium：https://medium.com/quarkchain-official Reddit：https://www.reddit.com/quarkchainio/ Facebook：https://www.facebook.com/quarkchainofficial/ Discord：https://discord.me/quarkchain
Bitcoin is a cryptocurrency – a form of digital money which can be bought with other currencies, traded for them and (where retailers accept it) used to buy goods and services. Cryptocurrencies such as bitcoin run on a technology called blockchain – essentially a huge online database of transactions. Bitcoin Forum - Info Center Recent Posts: Re: Why do some people stop their crypto project? by ansarose1 (Altcoin Discussion) Today at 12:33:43 AM: Re: [Bounty] SESERAL - 800 SSL to be share in 2 weeks. Limited participant by shuvomitra019 (Bounties (Altcoins)) Today at 12:33:22 AM: Re: Selling Established Crypto Casino Licensed Bustabit Clone by phun.io (Digital goods) Today at 12:33:12 AM ... Bitcoin is an invention that, for the first time in history, enabled a group of software users to create and manage a digital money supply outside the control of any government or bank. A revolutionary idea when introduced in 2009, Bitcoin continues to have implications that are just beginning to be understood and explored by technologists and economists today. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH.
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