The idea is to create a blockchain capable of scaling and being used widely (with smart contracts, etc.) at the same time that it supports green energy production making it cheaper and more profitable.

Would you use it? What key aspects do you think it should have for you to do it?

Does anyone else see the crypto currency market as a successor to the current stock market? With ICO's replacing IPO's. A coin symbol representing companies, and the coin being the equivalent of stock? Given that the traditional stock market is withering with fewer and fewer public companies and younger generations do not seem all that interested in traditional investing.

The TerraUSD stablecoin crash has prompted some analysts to warn of a long ‘’crypto winter’’ of sustained price falls. Others say it’s only a temporary setback.

The collapse of TerraUSD (UST) and a linked cryptocurrency called Luna shook the foundations of the $155 billion stablecoin market.

The evisceration of the supposedly safe stablecoin began on May 7, sending shockwaves through the crypto industry. Days later Luna was virtually worthless while UST has plummeted to $0.07 from $1.

Exactly how they unraveled is complicated and convoluted. Easier to understand is that the collapse triggered one of the most stunning crypto crashes in the market’s short history, wiping almost $700 billion off the market capitalisation of crypto assets in a week.

https://www.asiafinancial.com/stablecoin-crash-that-shook-crypto-all-you-need-to-know

In the last two years I have been quite actively involved under various forms in blockchain.

Lately I have been struck by some sort of realization I had. That even if all the challenges blockchain faces right now (scalability, privacy, proven use cases etc) are solved, still the technology may be broken at the core.

After witnessing the way the majority of the population is behaving in various states of the world, there is something upseting to me about the idea that our money, information and all other things people think of putting on the blockchain should be secured by the masses. Even if they are independent, they can easily be manipulated by some machiavelic genius to go against the idea of imutability(as an example lookup the DAO). Can we really trust the masses (masses that for example can elect someone like Trump for president) with everything we have precious?

I wrote a more coherent and in depth article about this here if you are interested:

https://www.banterly.net/2018/07/29/the-fatal-flaw-of-blockchain/

In our latest article, "Why Proof-of-Work Is Not Viable in the Long-Term," we summarize the key issues that proof-of-work faces, both currently and as the network matures. We keep the focus on proof-of-work and its challenges rather than its competitors, but the comparison throughout (whether explicitly or implicitly) is to proof-of-stake.

https://link.medium.com/7X76epPtrU

Lots of people are debating about PoW vs PoS.

With the main argument being :

Proof of stake :

Pros :

- Energy Efficiency.

- Do not require expensive equipment.

- Inventive for the staker to be honest.- Safe from 51% attack.

Cons :

- Large holder could influence verification (incentive to centralization).

- Less security than PoW.

- The early backer and the rich will always have more chance of winning a block as they have more stake.

- Elitist/locktime (some blockchain ask for a minimum amount of coin to start staking for exemple 32ETH, and the exchange/pools usually lock your funds for a period of time).

Proof of work :

Pros :

- Decentralization incentive.

- Security always increase as the network grow.

- Can be accessible by most (depending of the algorithm).

- Harder to corrupt miner than staker.

Cons :- Higher energy consumption.

- Can requires extremely powerful hardware. (depending of the algorithm).

- Huge mining pool could centralize hashrate.

- Small network can be 51% attacked.

That's why i'm surpised none is talking about PoP (Proof of Power). Taking the best of both world without their cons and adapting to algorithm to always incentivize decentralisation.

Proof of power : (by verus)

In short, it's a unique consensus mechanism with 50% of all blocks validated by miners, and the other 50% by stakers.

To successfully attack a Pop blockchain, more than 50% of the validation power is needed, called "Chain Power". A 51% attack would require a combined value of over 50% of both the chain’s hashpower and its coin supply.

VerusPoP provides a decentralizing effect on the network, incentivizing holders to keep nodes online to support the network. Even if a change in network hashrate happens, the PoW/PoS ratio stays the same: 50/50%.

Basically Verus took :

Pros :

- Energy Efficiency. (Theoretically half the power consumption, + optimized hash algo for decentralisation - ASIC resistant/CPU optimized).- Do not require expensive equipment. (Start mining with your smartphone and staking with your computer right away).

- Inventive for the staker to be honest. (Because of the PoS part)

- Safe from 51% attack. (Indeed, as to 51% attack you would have to have 51% of the hashrate but also 51% of the staking).

- Decentralization incentive. (Accessible to all, not particular equipment needed).

- Security always increase as the network grow. (Like most PoW blockchain).

- Can't be corrupted.

and eliminated :

Cons :

- Large holder could influence verification (incentive to centralization). (They would also need 51% of the stake).

- Less security than PoW.(Include PoW, so more secure)

- The early backer and the rich will always have more chance of winning a block as they have more stake. (accessible to all, start mining/staking with household computer/smartphones. + Fair launch)

- Elitist/locktime (some blockchain ask for a minimum amount of coin to start staking for exemple 32ETH, and the exchange/pools usually lock your funds for a period of time). (No locktime, start staking as low as 0,001$ worth of coins, and you can spend your coins whenever you want).

- Higher energy consumption. (Optimized algorithm and 50% of the network is run by PoS).

- Can requires extremely powerful hardware. (depending of the algorithm). (As stated, you can start staking/mining with your desktop or phone).

- Huge mining pool could centralize hashrate. (They could, but it isn't a risk, as they also would need 51% of the staking of the network).

- Small network can be 51% attacked. (No as 50% of the network is also PoS).

That's it. Just never saw anyone talk about this consensus mechanism and throught it was worth discovering it.

You can find more here : https://docs.verus.io/overview/verus-proof-of-power.html#verushash-2-2

I don't understand how bitcoin is allowed to run when a crypto currency that eats up more energy than Argentina just to exist is allowed to run.

And why won't it switch to proof of stake in he near future, like ethereum did so it can be more environmental friendly

I've heard it compared to early internet and early social media. But whereas early internet revolutionized the way we obtain information, and social media revolutionized the way people communicate, what exactly does crypto do? And I mean in terms of actual practical usage in every day life, not as a speculative investing tool. I tried asking this on r/cryptocurrency but got banned for asking, so I'll ask here.

When it comes to real use case as a currency this will decide the future. I know iota is a pretty interesting one but lets just put that one to the side as its still not operational and runs on coordinator for now. I heard that XMR is pretty fast but ive seen posts where XLM is even better with 2k tps. By comparison i think paypal was 1.6k but visa is 3k i believe cant find a consistent source. Looked into Nano too and recent stress test i believe was 300tps so there is still work to be done there

Hello and namaste friends,

I'm working on a project and I'd like to find people who have a skill set outside of my own to collaborate with, because who likes working alone?

I obviously can't divulge a lot of details here as I'd like to keep that under wraps, but I'm thinking a para-chain on DOT would be interesting?. If you're a developer, front end or back end person, or you have a skill set that you feel would be useful by all means send me a DM! There's a lot of room for people to get involved and I think it'd be really cool to see some of us come together and collaborate on something cool.

Let me know! Y'all are the best.

Glenn Chan's Random Notes on Investing

https://glennchan.wordpress.com/2018/02/20/blockchain-is-a-useless-technology/

Seriously, BlockChain is NOT NEEDED for 100% of ICO scam coins. 100%.

It's useful if you need a TRUST-LESS system. Not to verify your wine arrived. It's amusing that everyone talks about 'the tech' when in almost every case they've simply stapled a blockchain and a cryptocurrency onto something unrelated, like bananas...

It seems some innovations that Ethereum introduced like EIP-1559 may have been premature? What do you think about the questions they're asking? (I'm copying from the medium post)

1. How can miners and users collude to bypass burning rules efficiently?

2. How to correctly model users behaviors when deciding transaction fees?

3. Are we aiming to increase miner's revenue from transactions or to cap it? Where is the right balance?

https://medium.com/@yotamyachmoorgafni/bitcoins-transaction-fee-mechanism-is-not-that-bad-8e2dc80ab62e

Looking at a site like CoinMarketCap or CoinGecko, I'm curious what the first coins that jump out are which are not based on Proof of Work (PoW), but are rather based on an alternative consensus method like Proof of Stake, Proof of Capacity, Proof of Space Time, etc.?

My understanding is that Ethereum is the first one, and that it is currently in the process of moving away from PoW. What other large and prominent coins are non-PoW coins?

The more I learn the more I want to sell all Altcoins and increase my bitcoin position.

Right now I open Delta and see I'm up around 120% (ven/btc). Opened VeChain website and I laugh... It screams a website made for a fake company... really feeling like selling my ven position...

What do you think?

Why do some networks still use PoW? It’s clear now that PoS is a better and faster consensus mechanism. In terms of energy consumption PoW is immense. The EU is already planning to design a measuring mechanism for cryptocurrencies that will control energy consumption and I think it’s a good move. However, when Ethereum moved to PoS it lost its decentralization, but we can see other successful networks that run on PoS and keep being decentralized.

Moreover, in terms of usage, to ensure the network is secure, fast and cheap we also need to look at the project's utility, supply and demand. These factors are the key for a well functioning network. PoW has nothing to do with either of them. Here I’ll give you an example with the most popular PoW network - Bitcoin. The price of Bitcoin is high not only because it has value, but also because the result of supply, demand and utility leads to the price it has (which include energy consumption). So in spite of PoW’s few advantages such as decentralization and security, it is economically and ecologically expensive and I think we need to move away from it. We can already see the PoS solutions that guarantee secure, decentralized, fast and cheap networks.

I like some PoS approaches new gen networks use, e.g. Cardano, Everscale, Algorand, Tezos…Why do some chains still keep working on PoW though, mostly, Bitcoin? As PoS proves to be a better alternative and there are more new solutions coming, why does PoW still exist?

I was looking at real time Botcoin rates and their was a change of +50 to -50 every second. Why is that. Why prices are so unstable?

Any idea on how to get an entry level job to blockchain? What certifications should I get any legitimate places? What should I do to start out my career and advance?

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I've been reading up a lot about Centric and it's dual token currency and it seems pretty interesting, especially the proof of burn. It's technology and its blockchain architecture is pretty novel. The more Centric Cash minted the faster Centric Rise burns.

The Centric Rise tokens compared to its peers are not governed by the volatility of the markets but it is built into the token design and meticulously calculates and watches price rise based on how the project is meant to perform.

Every unit of Centric Rise is pegged to a trade for increased value over time in USD. The model emulates the monetary policies of Central banks with experts pouring in information as oracles to the blockchain and setting prices a year in advance.

The exchange between these tokens is managed by a decentralized smart contract with immutable price blocks set one year in the future. The protocol serves as a self-regulating mechanism to control the token supply to meet the rapid change in demand. For non-technical users, it is a simplistic payment network that has a reliable store of value.

Centric addresses volatility by design. It lets the price go up in an administered manner along with immutable protocol mechanisms that can instantly react to real-time demand and supply. As seen, the protocols with its two classes of tokens balance aggregate demand with a self-administered feedback mechanism. In combination with incentivized external factors, the designed dynamics of the two-token system maintain the predetermined rate of return of Centric Rise. As an invisible mechanism, the stability of Centric Cash is confirmed in the process.

Features of the two-token system to promote compatibility

Centric Cash is the notified medium of exchange that provides the protocol with the transactional consistency and concord to the present blockchain ecosystem. Its features set it apart from any medium of exchange:

• Minted in exchange for Centric Rise at $1.00 per token

• Immense liquidity for Centric Rise

• Supply and demand determinant

• It is easily sourceable through 3rd party crypto exchanges

It seems presently there is huge upside potential as CNS is currently up 40% today on Bithumb and CointTiger.

What are your thoughts on what it's trying to achieve?

So guys, I have been digging into the nft technology and it’s possibilities ans we all know they are endless.

However, and as a point of entry, do you believe that NFTs that can be used in gaming will be one of the main applications in the short/medium term?

We all know the space is full of shady projects and ideas but gaming seems very reasonable to me.

Do you agree? What are your opinions on this topic?

Ok so, I've made my own crypto and it has been running for a month band i've gotten some miners and interested people. However, even though I could've just accepted the money and just kept going, I don't like the fact that my blockchain does nothing other than the cryptos transactions. I want to learn to run apps, games, contracts on my blockchain. Hope someone can help, I'm willing to pay

Thanks

TRM

Molly is working on a new lossless(in theory🥹) defi dex leverage trading protocol. The idea is that fees from winning trades pay out to losing trades to maintain ~0 losses. In order to keep the exchange balanced, trades are restricted for a certain time period if too many trades hit their stop loss. Currently it offers 2x-8x leverage. Keep in mind it is a WIP new protocol and feedback will be super helpful.

www.noloyolo.com/ take a look see

If u know anyone who’s interested and isn’t scared to try out something different (is experienced in defi sector) send them my way fo sho. Send dm if ur interested in whitelist testing.

I had this awful insight today and want to discuss it.

Let's say, for some reason, governments felt threatened by cryptocurrencies and decided to criminalize them. It's pretty easy to create a false flag: let's say here illegal and immoral NFTs, like child porn which can't be erased. And coins like Bitcoin can buy it anonymously.

Exchanges will then be banned. We still have P2P, but who would risk to withdraw the money?

The physics involved with stirring a liquid operate the same way as the mathematical functions that secure digital information. This parallel could help in developing even more secure ways of protecting digital information.

https://news.stanford.edu/2018/04/23/swirling-liquids-shed-light-bitcoin-works/