Researchers Discover New Ways To Launder Money Using BTC

Earn 51-$171 using my referral codes to learn about crypto through Coinbase! Plus! if we verify you used my links, ill give you an additional $5 in for the links you completed. Payout is instant upon completion, no gimmicks!

Make $51+ to Learn about crypto on Coinbase! Up to $150 using my Bonus! [ID Verify Needed]
(If you want to learn a little about bitcoin and crypto, read the whole thing, if you just want the bonus, only read the next 15-20 sentences)
First use this one for your signup: https://www.coinbase.com/join/schaib_sl Once you signed up and verified identity use the links below!
  1. Compound: https://www.coinbase.com/earn/compound/lesson/5
  2. EOS: https://coinbase.com/earn/eos/invite/h9zd74pc
  3. XLM: https://coinbase.com/earn/xlm/invite/0nb8vckp
Altogether there are 6 different lessons, each takes like 5-10 mins with a quiz at the end. Only 3 of them i will get rewarded for though. You will also get an extra $10 for each completed for my referral + $51 from all 6 quizzes and also another $120 if you get 4 people to do the quizzes. They are really quick, especially if already have an account. Also you can look up the answers for each one on google so you dont need to sit through them, be even quicker. Please complete the 3 i sent the links with to the end so we get 10$ reward extra. As soon as you finish they send you the coins into coin base account. Once they are in your account you can sell them instantly for $$, and transfer to your bank account, OR you can keep them on your account. EOS, and COMP have been doing really well, so they might be worth keeping. This is just a really good promotion, probably one of the better i’ve see. Its easy AF, quick, and the reward is really good. If you don’t know anything about crypto, i highly suggest you learn. It’s still very early and its growing super quick. cryptocurrency has gained a ton of attention in the past couple years and is actually starting to become a real actual currencies (already is, but according to our governments) many different types of crypto is starting to become accepted in a bunch of stores, realtors are taking as payment for a house, and colleges are even accepting as tuition. I started researching bitcoin a short amount of time after Satoshi Nakamoto released it (2009) and bought my first few in 2013 at 15$!! From early 2013 the price was about $11 USD and at the end of 2017, $20,000. But they fell and recovered as the stock market does. But the 24-hour trading Volume today, in 2020 is is INSANE ($20,690,383,231) with an even crazier market cap of $209,783,036,693, which by the middle-end of next month should reach $210 billion, possibly sooner. Its just a really smart investment, buy a little over time. Some analysts are predicting that BTC could reach anywhere from $100k to $1,000,000 for BTC in the next few years. Im not sure exactly where i would name the price in 5 years, but know there is only a limited supply of BTC. They are mined (basically just means that the transactions and blocks on the ledger or blockchain are verified) by sophisticated pieces of hardware called ASIIC miners, or some even use GPU, and CPU in expensive computers. Although CPU mining can be very inefficient anymore as the mathematical calculations and problems the miners need to solve get more and more complicated over time. This, the limited supply, the increasing interest, usability, and need for blockchain technology all add the the idea of BTC reaching such incredibly high futures. Their is a total of 20,999,976 bitcoin and that is it. With a total of 18,517,418.75 in circulation. The last BTC is estimated to be 2140. Big difference from the 18.5M mined in 10 years, right? Thats because of the halving. Anyway, I’m sure you have heard some things about BTC, probably from the media, and if it was, it probably wasn’t good. You probably heard that people buy illegal dangerous stuff off of the “Darknet” and that its completely untraceable. Or that money can be laundered through BTC. But that is hardly partly true for BTC and other cryptocurrencies, and completely true for the USD. While the blockchain doesn’t include any personal information connected to wallets (unless you want it there, or you have the wallet through a service that makes you use personal information, which many services are doing), all transactions can still be tracked and seen by anyone who has an internet connection at https://www.blockchain.com. So if the identity of one of the wallet addresses is known, it would be easier to figure the other out. But for paper, money that cannot be said... completely untraceable, has been prone to money laundering since it’s inception, can be used to purchase various drugs—hookers, guns, dynamite, and even politicians... since its inception, without a trace. The reason not just bitcoin, but i think even more exciting, is just blockchain technology and a host of things that are coming with it. It can be used for tons of things, software and can be built directly into blockchains, they can hold and process data at enormous speeds, while being extremely, extremely secure. More secure in a lot ways than banks. There are tons of new cryptocurrency projects being started everyday. For the most part, all of these projects have some sort of token integrated, because its what powers, and processes the data. If people find the project interesting or a great idea you like you’ll be able to invest in it buy buying/selling, or holding the token/coin. When these projects gain enough traction by like-minded individuals, the coin gains a value. This value can then be exchanged for other crypto, or traded directly for Fiat currencies ($,€,₽,¥,£,₩). For some examples of how wonderful the community is, and reveal what the true nature of blockchain and crypto was founded on, ill list 3 of my favorite crypto projects of 2020 so far along with a little excerpt from the white paper or other:
  1. AIDCOIN: “allows websites to embed a widget into their website and accept donations in any cryptocurrency. Any donated crypto is transferred into AID token, which is also a stable coin. At first, this might seem like not such a good thing but the more I looked into it, the more I realized accepting a stable coin might actually make more sense for a charity as it reduces their risk exposure to volatility.”
  2. BRAVE BROWSER—Privacy Internet Browser: “As far as I’m concerned, keeping people safe and protecting their privacy and security is a noble endeavor. For far too long, giants like Google and Facebook have gotten away with unethical data practices with nothing more than a slap on the wrist. They have been able to spy on their users, abuse their data and use it for whatever purpose they deem fit. Brave Browser is looking to put an end to that through the most secure browser that exists on the market today.” Basically Brave takes on the responsibility of completely protecting privacy and from ads. As an added available option, brave allows you, to watch and look at sponsored ads while you browse. So basically just a stand-in for other browsers ads, but instead you make money WITH brave. You are awarded BAT (Basic Attention Token) for your service. BAT’s are currently at .21¢.
  3. Power Ledger: Last but not least. Power Ledger is probably one of my favorite projects that is actually making a real use-case out of crypto and blockchain. They are aiming to disrupt the energy sector with a heightened focus on renewable energy. Their software allows for three core things: 1. Energy Trading (if you have excess energy from your solar panels, for example, you can trade that to your neighbor through Power Ledger). 2. Environmental commodities trading (to help for the reliable tracking of renewable energy credits). 3. Renewable asset ownership (This will allow people who cannot afford their own renewable energy set-up to invest in fractional ownership). I honestly think Power Ledger is doing God’s work and wish them all the best.
As those projects above outlined, the basic principles behind pretty much every currency and upcoming project i have ever seen is, Trust, Sharing profit with the users who help make it into what it becomes, actual transparency, no central authority (due to decentralization), and lastly i believe it gives opportunity to those who are out if opportunity’s way. This is because it reaches so far, like into oppressive governments and 3rd work countries. Anyways, i hope to have given you a little insight during this read. Crypto has so much potential to fill and has already done so much. Looking forward to seeing where else all of this goes.
submitted by ABetterPsychiatrist to referralcodes [link] [comments]

Earn 51-$171 in crypto (compound, stellar, celo, and maker) by simply learning about them and answering questions through my coinbase link! Instant payout upon completion! Can sell for cash and transfer to bank immediately! Will pay an extra $5 for each link used and completed! Very quick

Make $51+ to Learn about crypto on Coinbase! Up to $150 using my Bonus! [ID Verify Needed]
(If you want to learn a little about bitcoin and crypto, read the whole thing, if you just want the bonus, only read the next 15-20 sentences)
First use this one for your signup: https://www.coinbase.com/join/schaib_sl Once you signed up and verified identity use the links below!
  1. Compound: https://www.coinbase.com/earn/compound/lesson/5
  2. XLM: https://coinbase.com/earn/xlm/invite/0nb8vckp
Altogether there are 6 different lessons, each takes like 5-10 mins with a quiz at the end. Only 3 of them i will get rewarded for though. You will also get an extra $10 for each completed for my referral + $51 from all 6 quizzes and also another $120 if you get 4 people to do the quizzes. They are really quick, especially if already have an account. Also you can look up the answers for each one on google so you dont need to sit through them, be even quicker. Please complete the 3 i sent the links with to the end so we get 10$ reward extra. As soon as you finish they send you the coins into coin base account. Once they are in your account you can sell them instantly for $$, and transfer to your bank account, OR you can keep them on your account. EOS, and COMP have been doing really well, so they might be worth keeping. This is just a really good promotion, probably one of the better i’ve see. Its easy AF, quick, and the reward is really good. If you don’t know anything about crypto, i highly suggest you learn. It’s still very early and its growing super quick. cryptocurrency has gained a ton of attention in the past couple years and is actually starting to become a real actual currencies (already is, but according to our governments) many different types of crypto is starting to become accepted in a bunch of stores, realtors are taking as payment for a house, and colleges are even accepting as tuition. I started researching bitcoin a short amount of time after Satoshi Nakamoto released it (2009) and bought my first few in 2013 at 15$!! From early 2013 the price was about $11 USD and at the end of 2017, $20,000. But they fell and recovered as the stock market does. But the 24-hour trading Volume today, in 2020 is is INSANE ($20,690,383,231) with an even crazier market cap of $209,783,036,693, which by the middle-end of next month should reach $210 billion, possibly sooner. Its just a really smart investment, buy a little over time. Some analysts are predicting that BTC could reach anywhere from $100k to $1,000,000 for BTC in the next few years. Im not sure exactly where i would name the price in 5 years, but know there is only a limited supply of BTC. They are mined (basically just means that the transactions and blocks on the ledger or blockchain are verified) by sophisticated pieces of hardware called ASIIC miners, or some even use GPU, and CPU in expensive computers. Although CPU mining can be very inefficient anymore as the mathematical calculations and problems the miners need to solve get more and more complicated over time. This, the limited supply, the increasing interest, usability, and need for blockchain technology all add the the idea of BTC reaching such incredibly high futures. Their is a total of 20,999,976 bitcoin and that is it. With a total of 18,517,418.75 in circulation. The last BTC is estimated to be 2140. Big difference from the 18.5M mined in 10 years, right? Thats because of the halving. Anyway, I’m sure you have heard some things about BTC, probably from the media, and if it was, it probably wasn’t good. You probably heard that people buy illegal dangerous stuff off of the “Darknet” and that its completely untraceable. Or that money can be laundered through BTC. But that is hardly partly true for BTC and other cryptocurrencies, and completely true for the USD. While the blockchain doesn’t include any personal information connected to wallets (unless you want it there, or you have the wallet through a service that makes you use personal information, which many services are doing), all transactions can still be tracked and seen by anyone who has an internet connection at https://www.blockchain.com. So if the identity of one of the wallet addresses is known, it would be easier to figure the other out. But for paper, money that cannot be said... completely untraceable, has been prone to money laundering since it’s inception, can be used to purchase various drugs—hookers, guns, dynamite, and even politicians... since its inception, without a trace. The reason not just bitcoin, but i think even more exciting, is just blockchain technology and a host of things that are coming with it. It can be used for tons of things, software and can be built directly into blockchains, they can hold and process data at enormous speeds, while being extremely, extremely secure. More secure in a lot ways than banks. There are tons of new cryptocurrency projects being started everyday. For the most part, all of these projects have some sort of token integrated, because its what powers, and processes the data. If people find the project interesting or a great idea you like you’ll be able to invest in it buy buying/selling, or holding the token/coin. When these projects gain enough traction by like-minded individuals, the coin gains a value. This value can then be exchanged for other crypto, or traded directly for Fiat currencies ($,€,₽,¥,£,₩). For some examples of how wonderful the community is, and reveal what the true nature of blockchain and crypto was founded on, ill list 3 of my favorite crypto projects of 2020 so far along with a little excerpt from the white paper or other:
  1. AIDCOIN: “allows websites to embed a widget into their website and accept donations in any cryptocurrency. Any donated crypto is transferred into AID token, which is also a stable coin. At first, this might seem like not such a good thing but the more I looked into it, the more I realized accepting a stable coin might actually make more sense for a charity as it reduces their risk exposure to volatility.”
  2. BRAVE BROWSER—Privacy Internet Browser: “As far as I’m concerned, keeping people safe and protecting their privacy and security is a noble endeavor. For far too long, giants like Google and Facebook have gotten away with unethical data practices with nothing more than a slap on the wrist. They have been able to spy on their users, abuse their data and use it for whatever purpose they deem fit. Brave Browser is looking to put an end to that through the most secure browser that exists on the market today.” Basically Brave takes on the responsibility of completely protecting privacy and from ads. As an added available option, brave allows you, to watch and look at sponsored ads while you browse. So basically just a stand-in for other browsers ads, but instead you make money WITH brave. You are awarded BAT (Basic Attention Token) for your service. BAT’s are currently at .21¢.
  3. Power Ledger: Last but not least. Power Ledger is probably one of my favorite projects that is actually making a real use-case out of crypto and blockchain. They are aiming to disrupt the energy sector with a heightened focus on renewable energy. Their software allows for three core things: 1. Energy Trading (if you have excess energy from your solar panels, for example, you can trade that to your neighbor through Power Ledger). 2. Environmental commodities trading (to help for the reliable tracking of renewable energy credits). 3. Renewable asset ownership (This will allow people who cannot afford their own renewable energy set-up to invest in fractional ownership). I honestly think Power Ledger is doing God’s work and wish them all the best.
As those projects above outlined, the basic principles behind pretty much every currency and upcoming project i have ever seen is, Trust, Sharing profit with the users who help make it into what it becomes, actual transparency, no central authority (due to decentralization), and lastly i believe it gives opportunity to those who are out if opportunity’s way. This is because it reaches so far, like into oppressive governments and 3rd work countries. Anyways, i hope to have given you a little insight during this read. Crypto has so much potential to fill and has already done so much. Looking forward to seeing where else all of this goes.
submitted by ABetterPsychiatrist to ReferralsForPay [link] [comments]

The Undiscovered Facts Behind Money Laundering, Cryptocurrency, and Banks

The Undiscovered Facts Behind Money Laundering, Cryptocurrency, and Banks
A week ago, a lot of documents known as the FinCEN documents were delivered, enumerating how the absolute greatest banks on the globe move trillions of dollars in dubious exchanges for suspected psychological militants, kleptocrats, and drug top dogs. Also, the U.S. government has neglected to stop it.
https://preview.redd.it/lme57jyyx1r51.jpg?width=1200&format=pjpg&auto=webp&s=014ead7b7b812b3d6cbaf4a141eeec123589121b
The Financial Crimes Enforcement Network ("FinCEN"), an agency inside the Treasury Department, accused of battling tax evasion, psychological militant financing, and other monetary violations. An assortment of "dubious movement reports" offers a window into budgetary debasement, and how governments can't or reluctant to stop it. Benefits from destructive medication wars, fortunes stole from creating nations, and hard-earned investment funds taken in Ponzi plans, all course through money related establishments, in spite of admonitions from bank workers.
These reports are available to US law enforcement agencies and other nations’ financial intelligence operations. Although FinCEN is aware of the money laundering activities, it lacks the authority to stop it.
Money laundering is more than a financial crime. It is a tool that makes all other crimes possible - from drug trafficking to political crimes. And banks make it all possible. In a detailed expose, BuzzFeedNews named several of the most trusted banks. Current investigations show that even after fines and prosecutions, well-known JPMorgan Chase JPM (+0.9%), HSBC, Standard Chartered, Deutsche Bank, and Bank of New York Mellon BK (+0.8%) are all involved in moving funds for suspected criminals.
The current money related framework generally protects the banks and its heads from the indictment, inasmuch as the bank documents a notification with FinCEN that it might be encouraging crime. The dubious movement alert adequately gives the banks a free pass. Thus, unlawful finances keep on moving through banks into different businesses from oil to amusement to land, further isolating the rich from poor people, while the banks we have developed to trust, make everything conceivable.
As indicated by the United Nations, the assessed measure of cash laundered universally in one year is 2 to 5% of the worldwide GDP, or $800 billion to $2 trillion, with more than thank 90% of illegal tax avoidance going undetected today.
Simultaneously, the cryptocurrency industry has likewise been condemned for being an apparatus for tax evasion, in spite of insights expressing something else. It is assessed that solitary 1.1% of all digital currency exchanges are illegal. During its initial days, Bitcoin was generally connected with the Silk Road, an online dim net commercial center, where clients could buy weapons and unlawful medications namelessly.
Be that as it may, with the developing utilization of the Bitcoin organization, 42 million Bitcoin wallets, and checking, it is getting progressively conceivable to follow exchanges on open blockchains, while private financial exchanges stay covered up on display.
This week, I had a chance to plunk down with Chanpeng Zhao "CZ", the Founder and CEO of Binance, the biggest cryptographic money trade by volume on the planet, to get his interpretation of illegal tax avoidance both in the customary and the computerized fund universes.
Coming up next are a couple of features from our meeting:
Much obliged to you for going along with us today, CZ. As you would see it, for what reason is illegal tax avoidance especially destructive to our economy?
CZ: As monetary administration suppliers, it is our obligation to battle unlawful action. Everybody shares this duty. Yet, regularly once the principles are set up, individuals will attempt to get around the guidelines. What's more, there are individuals who simply need more business, and knowing or unconsciously will encourage these exchanges. We live in an intricate world, where one nation may see a go about as criminal and the other may not. Many individuals have a high contrast see, yet the world is really dim. Not all banks are honest and not all crypto organizations are terrible.
The digital currency industry has experienced harsh criticism for encouraging unlawful exchanges. How would you think conventional money and digital currency businesses analyze in such manner?
CZ: If you are utilizing Bitcoin, it is a straightforward record. When you have a couple of exchanges, you can follow the assets right back to where the coins were mined. So along these lines, blockchain really gives a straightforward record to everybody to dissect. In the event that you piece together a couple of information focuses and do a group examination, it isn't that difficult for a calculation to break down the beginning. Security coins are more earnestly to follow, yet their market top isn't unreasonably high, making bigger exchanges more troublesome. So to be completely forthright, it is a lot simpler to make illegal exchanges utilizing fiat than utilizing crypto.
How might you analyze the volume of illegal exchanges in crypto versus fiat?
CZ: It's likely a thousand times less. Essentially, for any important measure of cash you need to move in the crypto, it is exceptionally difficult to move it namelessly. There are outsider checking devices and information bases that can coordinate a considerable lot of the addresses to known people. The digital currency market top is little to the point, that in the event that you are moving a $100 million dollars, you can't do as such without experiencing an incorporated trade, making it considerably simpler to follow.
The cryptographic money space overall was begun by Satoshi Nakomoto as to some degree a campaign against the defilement of banks. Remarkably, the beginning square of Bitcoin contained a commentary tending to the bailouts of banks in 2008 and 2009 ["The Times 3 January 2009 - Chancellor on edge of second bailout for banks."] Is that ethos still alive in the digital currency space today, the drive to bring down the enormous person?
CZ: I have even more a fair view here. Some in the crypto space are against banks, fiat, and so forth., while others think digital forms of money are utilized by drug masters. Those are two extraordinary perspectives. My view is that digital money offers opportunities - a further extent of opportunity in exchanges, ventures, property, reserve funds, and so on. We are simply offering another choice for clients who esteem that opportunity and control. I'm not against any bank or any single individual. I think crypto offers a higher opportunity of cash, and thusly we need to give more individuals admittance to crypto… If I don't care for the banks, I simply don't utilize them.
Where do you feel the equalization lies between the legislature securing its residents as opposed to encouraging advancement?
CZ: I accept governments ought to be public administrations. They ought to give streets and fire departments...Whenever there is government intercession, it is awful for the economy. At whatever point an administration encourages one gathering, it naturally harms another. The administration influences the parity of the economy giving assistance to a gathering that isn't sufficiently serious to remain alive. So at whatever point an administration rescues huge banks, or any business so far as that is concerned, they just appear as though they are making a difference. I have confidence in a free economy, and I buy into that way of thinking unequivocally.
Much obliged to you for your understanding, CZ.
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PrivateX is a private wallet for sending, receiving, and storing your Bitcoin and Ethereum.
If you are interested in services, contact us [[email protected]](mailto:[email protected])
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submitted by privatex-wallet to u/privatex-wallet [link] [comments]

What Can We Expect in the Halving Market? 58COIN Exchange Beauty Executive Gives the Answer

What Can We Expect in the Halving Market? 58COIN Exchange Beauty Executive Gives the Answer


What are the effects of the third Bitcoin halving?
How to view the relationship between mining pools and exchanges?
Is the contract a road of no return?
What is the future trend of digital currency?


Q1: What does 58COIN expect from this Bitcoin halving?
Xiao Bei: On the macro level, reduction in the bitcoin production shows a more stable signal to the market. May 12th is the third halving in bitcoin’s history, before it, however, the daily production plunged from 1800 to 900, a reduction of around 30,000 bitcoins in a month. The selling pressure reduced significantly, which leaves the root impact on the gradual stability of the market.
The reduction not only brought us a bull market with a sustainable and long-lasting effect but greater opportunities as well. As an exchange, it should better improve itself and render stable and quality products to users. Currently, 58COIN’s mining pool ranks the top 5 in the world. After the reduction, based on the principle of survival of the fittest, the superior resources will be allocated to a larger and more stable mining farm, and the steady recovery of computing power is also anticipating.
Q2: As an exchange, why does 58COIN occupy more than 10% of the overall bitcoin’s computing power?
Xiao Bei: At present, our computing power share is about 7.8%, ranking among the top five in the world. Our recent goal is to have a stable computing power share of more than 10%.
The mining pool provides the main non-trading BTC source for the exchange, increases the supply of BTCs on the market, and injects liquidity into the market. The top ten exchanges are expected to receive more than 70% of the bitcoin in the mining pool, so all major exchanges have begun to layout the mining pool to compete for BTC.
58COIN has reorganized the layout and started the operation of the new mining pool (58COIN& 1THash) in 2019. We have a mature operation team with more than 6 years’ experience, and hope to better link the upstream and downstream industries in the next stage. This is also an important step in the strategic development of high-quality exchanges.
Q3: For an exchange, liquidity and redemption abilities are the absolute reflection of the user's sense of security. How does 58COIN ensure these two abilities that users care most?
Xiao Bei: In terms of liquidity, first of all, our registered users have exceeded 3 million, which provides sufficient trading liquidity and depth. Secondly, our matching transaction service with constantly upgraded technology and algorithm ensures that each matchmaking time is in the microsecond level, and easily achieve system 10,000-level throughput performance.
Concerning the redemption ability, non-trading digital assets held by the exchange serves as the foundation. The advantages of 58COIN's mining pool have accumulated abundant platform reserves for us. As of now, our risk reserve has exceeded 3.6 billion yuan.
Besides, the Exchange integrates account opening, transaction matching, and liquidation, and plays an important role in the secondary market. Most exchanges lack a high-quality intelligent risk control system, a comprehensive anti-money laundering mechanism, and insufficient open and transparent information disclosure and supervision. There may be acts of forgery of trading volume, joint price manipulation with the project party, and other actions that harm the interests of investors. If the liquidity itself is not good enough, the situation mentioned above is more likely to occur.
Q4: Which section does 58COIN values most? Contract Trading or Spot Transactions? What is the biggest advantage of trading contracts on 58COIN?
Xiao Bei: Both spot and contract boast their own advantages, separately lie in the exchange value through hoarded coins, and flexible use of fluctuations. 58COIN as the main contract exchange, contract trading is definitely our focus. In terms of spot, it is mainly based on mainstream currencies.
Compared with spot trading, the two-direction trading mechanism is more flexible. Also, leverage can increase the utilization rate of funds and amplify the profit, which is suitable for users with fewer funds to trade.
The biggest advantage of contract transactions, in addition to the just mentioned abundant platform reserves, complete risk control and huge user base, there are several points related to the user's vital interests:
  1. The lowest fee in the industry. For example, the handling fee of the perpetual contract is: “Taker 0.03%, Maker 0.015%”;
  2. The fixed maintenance margin of 0.5%;
  3. No funding fees. We have made every effort to reduce the principal consumption in each exchange, thus greatly lower the risk of liquidation;
  4. The platform insurance funds bear the full debt loss, and users do not have to worry about apportioning any risks.
In addition, the contract can also maintain the value of the existing mainstream spot of the user to minimize the risk of depreciation caused by spot fluctuations.
It is worth mentioning that in terms of wallet, we implement multi-level and multi-dimensional security risk control strategies such as hot and cold wallet isolation, multi-signature authorization, and regularly change of hot wallet addresses. Meanwhile, a manual verification process was added to ensure the safety of the assets. Since its establishment, there has never been any wallet accident, wallet stolen, or the loss of coin incidents.
Q5: In the contract transaction, what advice does 58COIN give to novice users?
Xiao Bei: Firstly, please remind that contract is not a devil, it is just a tool. What we should do is to make good use of the tool to make profits.
Secondly, the purpose of the investment is to withdraw, and suggestions are shown below:
1. Invest with the spare funds at hand;
2. In the spot transaction, hoard coins in the bear market and exchange in the bull market, do not follow the trend of buying in the bull market;
3. In the contract, set up operation points and positions, and perform secondary operations according to market conditions. (Do not be greedy)
4. Make a risk response plan during the investment process, such as a sufficient margin, value preservation plan, etc.
Finally, we must keep in mind: when doing spot transactions, choose assets with good liquidity in a way to get away from manipulation projects, risky exchanges, etc.
58COIN provides detailed descriptions for each business line, novice users should read them carefully before using. Besides, each contract trading page is designed with a calculator to help provide trading references to users before investment.
Q6: What are the new plans of 58COIN?
Xiao Bei: First of all, we will remain a sophisticated attitude in technology, risk control, and product experience, offering a stronger guarantee for users' transactions; second, we will further improve the ecological layout of 58COIN, from increasing investment in mining pools, gradually optimizing the hot and cold wallet system, enabling entities, focusing on community construction, etc., with better technical upgrades and preparations, to ensure that the entire 58COIN ecology can better link the upstream and downstream industries, providing our users with a more stable ecological background; We will launch some online activities in the near future, covering basic knowledge, candlestick chart learning, and industry analysis. We look forward to making joint efforts with our users in learning and making progress.
Q7: What does 58COIN want to say about the future cryptocurrency market?
Xiao Bei: The real big bonus in the cryptocurrency market has not yet been released, and Bitcoin has more imagination space than gold in the future. The cryptocurrency market is stepping toward a diversified, professional, and tangible direction, requiring more high-quality industries participation and landing. Though it is currently the fastest-growing field, financial attributes should not be the only factor entitled to cryptocurrencies, the future market should be more integrated and serve the real economy, such as the Internet of Things, financial systems, and personal privacy.
For more details, please log in to www.58ex.com or download our app: https://wap.58ex.com/?locale=en.
Website: https://www.58ex.com/
Twitter: https://twitter.com/58_coin
Facebook: https://www.facebook.com/coin.58COIN
Telegram: https://t.me/official58
Medium: https://medium.com/@58coin_blog/
submitted by 58CoinExchange to u/58CoinExchange [link] [comments]

Doing the Math on the S4E10 eCoin Transaction...

In this week's Mr Robot episode, Darlene sits on a park bench with Dom, and distributes the money she stole from the Deus Group to everybody, evenly. I timed the transaction as it happened in the show. It was 24 seconds, between her hitting return and seeing the following message on her screen: "*Transfers Complete. All Wallets Updated*" This processing time includes a message that says, "cleaning coins through crypto tumbler". It took 1 minute and 16 seconds for the transaction to tumble, process, and for the recipients to begin to get notices that they received money in their accounts.
If you have worked with bitcoin, you know that cryptocurrency does not work like this. Transferring money is a slow and sometimes expensive process, as transaction fees eat into every transaction. I know that eCoin isn't necissarily bitcoin, because it's controlled by eCorp, but it's fun to think about what happens if eCoin works like bitcoin does today...
How much money was transferred?
According to Forbes, the most wealthy people in the world are worth a combined $8.7 trillion, or $2.7 trillion. It depends on which Forbes list you are looking at. On the actual Forbes web site, they say the richest people in the world are worth $8.7 trillion, but they do not state how many of the richest people in the world are worth that much. If you look at sites like Victor Media, they publish a table of the 100 most wealthy people, and say they got the list from Forbes. They probably did purchase the list from Forbes. If I put the Victor Media list into excel, and add all the values in the net worth column, that number comes out to $2.7 trillion. So Forbes might be talking about a list that is more than the top 100 people, and sell the top 100 people list to sites like Victor Media? I don't know.
Either way, we are talking about somewhere between $2.7 and $8.7 trillion.
How many people did the money go to?
That's complicated. There was no global montage showing people celebrating all over the world (which I found a little surprising, even though I still love how this episode was shot). The only indication of a truly global transfer, to every individual in the world, is a TV screen in the airport saying that, "Global eCoin Payout... Deus group collapses as wealth spreads around the world." So Darlene could have sent the money to every individual with an eCoin wallet in the world, or she could be sending them to every American, or to everybody in the developed world. I doubt the average rice farmer in Indonesia is really using eCoin, but it's possible. If she only sent it to every American, our wealth tends to spread around the globe pretty fast, so that's possible, too.
Lets work with World Bank population numbers for all three of these possibilities...
World Population: 7.6 billion people
Global North (AKA the developed world): 1.24 billion people
United States: 327 million people
So we have 6 possibilities for how much money was sent to each person...
People Total Money Money Per Capita Satoshis
7.6 billion $2.7 trillion $355.53 4,739,471
1.21 billion $2.7 trillion $2230.82 29,741,808
327 million $2.7 trillion $8252.65 110,079,512
7.6 billion $8.7 trillion $1145.60 15,279,332
1.21 billion $8.7 trillion $7188.22 95,883,716
327 million $8.7 trillion $26591.89 355,275,242
How much would this transaction cost with bitcoin?
Aside from the fact that eCoin probably functions differently than bitcoin, this is a very complex question. I'm definitely not as sure about these numbers as the other numbers I have, but I'll do my best to come up with useful, realistic numbers. If you are more familiar with the block chain than me, please correct me.
The coins were taken from 100 different Deus Group accounts. Lets say each transaction launders through a bitcoin tumbler 1,000 times. I'm going to ignore transaction fees for the tumbling process, because I don't fully understand the details of tumbling, but 1,000 times seems reasonable to me.
That means that there are 100 x 1,000 = 10,000 inputs in any transaction that spends all the money from the Deus group.
For outputs... for simplicity's sake, I will make the conservative assumption that everybody has one eCoin wallet. That means somewhere between 327 million and 7.6 billion outputs. Accounting for everybody having multiple wallets would make the transaction even bigger, but this is a good starting point to get a feel for what this transaction would look like, in the real world.
How long will this transaction take to process?
There is a bidding process and a bit of politics involved in processing a cryptocurrency transaction. For simplicity, I'll assume we bid enough that this transaction gets priority treatment from the bitcoin miners.
According to blockchain.com, transactions happen on the block chain at a rate of roughly 3.5 transactions per second. At that rate, the tumbling would take roughly 48 minutes, rather than the few seconds it took for Darlene to tumble this money.
According to buybitcoinworldwide.com's fee calculator, here are the transaction sizes, the transaction fees involved (in US Dollars), and the time it would take at 3.5 transactions per second...
Inputs Outputs Size Cost Time
10,000 7.6 billion 240.4737 Gb $38,884,280.55 68.85 years
10,000 1.21 billion 38.32587 Gb $6,192,571.09 10.96 years
10,000 327 million 10.35582 Gb $1,673,260.46 2.96 years
So this transaction would take years to go through, and it pays Evil Corp somewhere between $1.6 and $38 million. In the real world, most of that money would go to Chinese bitcoin miners.
What would the impact be?
A one time windfall of $327 per capita would probably not trigger hyperinflation in America. The largest payout we calculated was $26.5k, and I doubt that would cause hyperinflation, either. Regular inflation? Yes. Hyperinflation? Probably not.
It might lead to hyperinflation in other countries, though, because of differences in purchasing power.
Purchasing power parity is a number that describes the differences in the cost of goods and services around the world. $5 in America will buy you a big mac, but if you go to, say, Indonesia, you can buy a lot more with that $5, because Indonesia is full of people who make something like 25 cents a week.
OECD.org publishes PPP (purchasing power parity) numbers for countries all around the world. If you want to know how far your dollar will stretch, on average, in a foreign country, consult this list. If you have $100 in America, you can expect it to be worth $100 worth of American goods and services, so on the OECD table, it has a PPP of 1.0. If you take that $100 to, say, the UK, where the PPP is 0.7, you can expect that $100 to be worth $70 worth of goods and services. If you take that $100 to Australia, where the PPP is 1.48, you can expect that $100 to buy roughly $148 worth of goods and services.
If Elliot and Darlene were genius economists, I might expect them to account for PPP in their payout. They would have to be geniuses, to predict what PPP is doing after events like the 5/9 hack, because their best data would be out of date, so they would have to use all kinds of fancy regressions and tricks to figure out how that would work in such a volatile world economy. They definitely aren't economists, though, so I'll assume they sent the same nominal amount to everybody.
So what's the range on how much purchasing power this transaction gives people around the world? In 2018, the highest PPP number on the OECD list is Indonesia, with a PPP of 4,245.613140. The lowest PPP on the list is Lithuania, with a PPP of 0.457582. Lets see how this shakes out in each of these countries...
$ Per Capita Lithuania (0.46) Indonesia (4,245.61)
$355.53 $162.68 $1,509,442.84
$2,230.82 $1,020.78 $9,471,198.70
$8,252.65 $3,776.26 $35,037,559.28
$1,145.60 $524.20 $4,863,774.41
$7,188.22 $3,289.20 $30,518,401.29
$26,591.89 $12,167.97 $112,898,877.60
What would this cause? People might predict a lot of different things. The Yang gang people probably strong opinions on this. I have a bachelor's degree in economics, so I believe I can predict that most mainstream economists would predict the following...
In Lithuania, when they get a few hundred to a few thousand dollars, they probably raise a pint to F Society, then put the rest towards a house or car payment, or buy themselves something nice. Minor inflation would happen, probably starting at the pubs, and that would worry financial types, but it would not cause any kind of major economic catastrophe.
In Indonesia, where everybody becomes an asset millionaire overnight, they will probably have hyperinflation, mass social upheaval, and violence.
In conclusion...
TL;DR: What Darlene did last night with eCoin isn't actually possible with bitcoin, and the impact in America might not be as great as you think, but the impact would be much bigger in poorer parts of the world.
submitted by bubblesort to MrRobot [link] [comments]

The CBDC Road to Practice-The Framework of LDF 2020

The CBDC Road to Practice-The Framework of LDF 2020
The CBDC Road To Practice——The Framework of LDF 2020
March 8, 2020 By JH( Lend0X Project Architect)
The Market Structure Analysis of CBDC
I. CBDC helps GDP growth
CBDC can be used as cash for commercial banks or as a medium for (government) bonds. The way in which assets are issued will have a huge impact on GDP growth. For commercial banks, the CBDC issued by the central bank is the source of assets. For customers, the products under the CBDC are the use of funds. Blockchain-based CBDC and bank account-based digital cash and banknotes are generally considered to have a huge difference in the contribution of GDP to quality, cost, and efficiency.
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Qualitatively
The Bank of England states in the 2019 study that the macroeconomic effects of issuing central bank digital currency (CBDC), the following three advantages of digital currency can increase interest-bearing central bank liabilities, and distributed ledgers can compete with bank deposits as a medium of exchange.
In the digital currency economy model 1. The model in the report matches the adjusted US currency issuance before the crisis, and we find that if the issuance of CBDC accounts for 30% of GDP, compared with government bonds, it may permanently increase GDP by 3%.
  1. Reduce real interest rates, reverse taxes and currency transaction costs.
  2. As a second monetary policy tool, countercyclical CBDC price or quantity rules can greatly improve the ability of the central bank to stabilize the business cycle.
Cost
II. The issuing system and payment structure of CBDC
The BIS research report pointed out that CBDC has many open questions, such as whether they should be retail or wholesale? Directly or indirectly to consumers? Account-based or token-based? Based on distributed ledgers, a centralized model or a hybrid model? How does CBDC pay across borders?
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Of the three issuance systems (indirect, direct, and hybrid), CBDC can only be issued directly by the central bank. In The first type of indirect issuance structure,the CBDC is the indirect architecture ,and is done indirectly. ICBDC in the hands of consumers (such as the digital currency issued by the 4 largest state-owned commercial banks in DCEP) represents commercial banks (such as the 4 largest state-owned commercial banks) debt.
In the second type of direct and third type of mixed issuance structure, consumers are creditors of the central bank. In the direct CBDC model (type 2), the central bank processes all payments in real time and therefore maintains a record of all retail assets. The hybrid CBDC model is an intermediate solution where the consumer is a creditor of the central bank, but real-time payments are handled by the intermediary, and the central bank keeps copies of all retail
CBDCs in order to transfer them from one payment service provider to another in the event of a technical failure.
In terms of efficiency
Three payment architecture architectures allow account-based or token-based access. Although its DCEP digital currency is not a token in the blockchain, it is similar to the token in blockchain in key features such as non-double spending, anonymity, non-forgeability, security, transferability, separability, and programmability. Therefore, DCEP still belongs to the Token paradigm, not the account paradigm.
All four combinations are possible for any CBDC architecture (indirect, direct or hybrid) whatever the payment structure is based on the centralization or centralization mode, the account or token mode of blockchain smart contract account . But in different structures, central banks, commercial banks, and the private sector operate different parts of the infrastructure.
At present, the DCEP issuance structure adopts a two-tier structure, and its payment system——four major state-owned commercial
banks issuing four ICDBC tokens. Its technical architecture features are consistent with the first indirect distribution method. Because DCEP is positioned as digital cash (M0 cash) and the central bank's DCEP supports offline mobile payment, considering its huge payment transactions, a centralized account system for DCEP payment methods is essential. Offline Payment methods access to mobile wallets based on tokens are also essential for commercial banks.

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LDF Central Bank Digital Currency CBDC Project Development
At present, the technical framework of the CBDC and the selection of infrastructure are divided into the R & D and cooperation of domestic application planning DCEP application scenarios; its overseas expansion goal supports the development of the “Belt and Road” digital asset ecosystem. DCEP adopts a double-layer system of commercial banks and central banks to adapt to the existing currency
systems of sovereign countries in the world. China, as a currency issuing country, has strong economic strength and basic conditions necessary for world currencies. At the same time, DCEP can also save the issued funds, calculate the inflation rate and other macroeconomic indicators more accurately, better curb illegal activities such as money laundering and terrorist financing, and facilitate foreign exchange circulation worldwide.
1. LDF——the combination of CBDC program and token economy
Only after answering questions such as the openness of CBDC currency itself, can we solve how the application of multiple blockchain industries such as LDF digital asset issuance platform, digital asset support bond platform, and lending and other CBDC currency "product traceability", "digital identity authentication", "judicial depository", "secure communication"and other basic applications, these LDFs are an important direction for exploring blockchain applications.
2.Select the most widely used blockchain technology as the basic platform
LDF introduced CBDC to use blockchain technology because it is the most mature landing foundation platform. It has the advantages of decentralization, openness, autonomy, anonymity, and tamper resistance. It can make the entire system information highly transparent, its data stability and the reliability is extremely high, which solves the point-to-point trust problem and can reduce transaction and operating costs. At present, the underlying technologies of mainstream digital assets such as Bitcoin, Ethereum, and USDT are all blockchain technologies. At the same time, the application scenarios of the blockchain not only include digital currency, but also include many fields such as "product traceability", "digital identity authentication", "judicial depository", "secure communication" and so on.
3.Interpretation of DCEP and selection of LDF blockchain technology architecture
·DCEP does not use a real blockchain like Libra, but may use a centralized ledger based on the UTXO (Unspent Transaction Output) model, and it still belongs to the Token paradigm. This centralized ledger reflects the digital currency issuance and registration system maintained by the central bank. It does not need to run consensus algorithms and will not be subject to the performance bottleneck of the blockchain. The blockchain may be used for the definitive registration of digital currencies and occupy a subsidiary position.

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·Users need to use DCEP wallet. The core of the wallet is a pair of public and private keys. The public key is also the address, where the digital certificate of RMB is stored. This digital certificate is not a token in the blockchain in the complete sense, but it is consistent with the Token in many key features, and it is based on 100% RMB reserve. Users can initiate transfer transactions between addresses through the wallet private key. The transfer transaction is recorded
directly in the centralized ledger by the central bank. In this way, DCEP implements account loose coupling and controlled anonymity.
·Although DCEP is a currency tool, the third-party payment is mainly a payment tool after "disconnecting directly", but there are many similarities between the two. If DCEP is good enough in terms of technical efficiency and business development, and from the perspective of users, third-party payments can bring the same experience after DCEP and "disconnect directly". Therefore, DCEP has a mutual substitution relationship with third-party payment in the application after “disconnecting directly”.
·DCEP will have a tightening effect on M2, and M2 tightening reflects the contraction of the banking system to a certain extent. Digital currency does not pay interest, and the People's Bank of China has no plan to completely replace cash with DCEP, so DCEP will not constitute a new monetary policy tool. DCEP has strong policy implications for central bank monitoring of capital flows, as well as anti-money laundering, anti-terrorist financing and anti-tax evasion. Therefore, the supervisory function of DCEP exceeds that of monetary policy.
·The impact of DCEP on RMB internationalization is mainly reflected in cross-border payments based on digital currencies. Although cross-border payments including DCEP, can promote RMB internationalization, cross-border payment is only a necessary condition for RMB internationalization, not a sufficient one. The internationalization of the RMB is inseparable from a series of institutional arrangements.
4.The effectiveness of digital currencies in the LDF framework
CBDC is positioned as digital cash or currency under the LDF framework, and the remaining various tokens, cryptocurrencies, and stablecoins are treated as digital assets. The application platforms involved in LDF (asset mortgage bond platform, digital asset issuance platform, and lending). The underlying assets of LDF are part of the digital asset equity. The reason why LDF uses CBDC and stable currency as currency is due to ·LDF framework links three financial ecosystems ·CBDC has the characteristics of currency transaction, accounting unit and value storage have been verified
·Stablecoins can be used as a payment tool for token economic platforms, not currencies
The stable currency selected by LDF should effectively play the payment function of the currency, and meet the requirements of the following LDF framework: ·Must be universally accepted ·Must be easy to standardize in order to determine its value
Due to the characteristics of DvP (payment is settlement) based on blockchain technology, LDF's smart contracts have the characteristics of decentralized intermediaries, such as the function of asset account contracts partially replacing account settlement; the asset pool contract replacing SPV, and the cash flow contract replacing assets Payment intermediary The digital currency selected as an LDF that meets the above standards is very important for the effectiveness of the LDF framework. Otherwise, the platform built by the LDF framework will not be able to achieve the capabilities of distributed ledgers and DAO organizations.
LDF regulatory compliance
LDF chooses CBDC (DCEP) as the construction of digital asset transaction payment platform, which has the characteristics of DvP (asset payment is settlement). It supervises compliance with the selection of digital currencies that support smart contract accounts and trading platforms (anti-money laundering and anti-terrorist financing) has a decisive role.
DCEP takes the form of loosely coupled accounts to achieve controlled anonymity. The current electronic payment methods, such as bank cards and third-party payment platforms, all use the method of tightly coupling accounts, that is, funds must be transferred through real-name bank accounts. But With the improvement of people's awareness of information security, electronic payment cannot meet people's demand for anonymous payment. The digital currency of the central bank adopts the form of loosely coupled accounts, enabling asset transfers without the need for bank accounts, so as to achieve controllable anonymity.
Unlike Bitcoin's complete anonymity, the central bank has the right to obtain the transaction data within the legal scope, and the source
of digital currency can be traced through big data analysis, while other commercial banks and merchants cannot obtain relevant information. This mechanism, while protecting data security and citizen privacy, also enables illegal activities such as money laundering to be effectively supervised.
Association of LDF's DAO Autonomous Economic Model with CBDC
The direct DCB (such as DCEP) or LIBRA of the LDF token can quantify the value of DAO / DAE through a certain transformation and analysis, and predict its future long-term growth rate and the problems to be solved by the economic model, the solution path adopted, and the overall structure design, technological innovation, team composition, development vision and roadmap.
https://preview.redd.it/txg4mq0sfqu41.png?width=269&format=png&auto=webp&s=a69b919cf43c9115f43525f8d851ee1e4fbf5a1f
·The LDF economic model transplants the estimation model of the asset value of the general economic system to DAO 2.0 organization and market management, so as to establish a unified evaluation system for the value generated by the distributed autonomous economy (DAE). The endogenous economic growth model considers important parameters such as savings rate, population growth rate, and technological progress as endogenous variables. The long-term growth rate of the economy can be determined by the interior of the model. Moreover, the LDF economic model takes the number of tokens, nodes, and technical inputs of the distributed organization as similar parameters. The CBDC (such as DCEP) or LIBRA directly targeted by the token can quantify the value of DAO / DAE through certain transformation and analysis and predict its long-term growth rate in the future.
·In response to the special needs of transactions and asset on-chain in the blockchain field, the LDF economic model has developed a DAE (Decentralized Autonomous Economic) protocol group specifically designed to eliminate various pain points of decentralization in the blockchain field, and has developed corresponding LDF DAO DAPP, these agreements include: ·Issuance and trading of tokens based on smart contracts ·Distributed order submission and matching ·Transaction interest rate and mortgage method based on automatic discovery mechanism
Therefore, whether it is a community member, an investor, or a blockchain project developer that develops applications on the LDF economic model, it can use the distributed rules, consensus mechanisms, infrastructure, and smart contracts provided by it to achieve the following purposes:
·Encrypted token asset transaction and circulation based on community autonomy ·Issue of new LDF tokens ·Construction, collaboration, management, voting, and decision- making of specific encryption token communities
·Develop a smart contract system for the dual factors of community node rights and workload ·Customized incentive standards for nodes with different interests
Welcome to discuss with the author of this article, please contact via email:[email protected]
submitted by Lend0x to u/Lend0x [link] [comments]

DIFFERENCE BETWEEN FIAT AND CRYPTO

• Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.
• Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.
• What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.
• There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.
• A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.
• It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.
• In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.
KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.
An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.
Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.
SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC: Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.
In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.
Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.
• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.
• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.
• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.
• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety. SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS: • Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.
• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.
• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.
• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?
• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.
• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.
• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.
• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works. TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS: • Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.
• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.
• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies. PRIVACY & ANONIMITY: • Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.
• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.
• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act. SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES): • No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.
• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.
• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat. KRATSCOIN SUMMARY: • Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.
• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.
• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?
• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.
"Quoted by" https://lintangnews.com/ada-kratscoin-ini-bedanya-dengan-bitcoin/ https://0xzx.com/201910111244312902.html https://news.tokocrypto.com/tag/kratscoin-ktc/ http://bbs.tianya.cn/post-lookout-836105-1.shtml https://zhuanlan.zhihu.com/p/84844615
submitted by xia112 to Bitcoin [link] [comments]

My growing collection of info about NEO

It can be very time consuming to keep up to date on a single blockchain project let alone multiple ones. If you just heard about NEO a few weeks ago it would be impossible catch up on past occurrences due to high volume of Reddit posts and articles made on the project. I’m going to try and simplify the past, present and future as much as I can into one well thought-out post. I hope I can be helpful to anyone who has been investigating like myself. I will include sources with all of my research.
https://imgur.com/a/NBI7S (img for mobile backround)
Key notes from the White Paper http://docs.neo.org/en-us/
Digital Assets
Digital assets are programmable assets that exist in the form of electronic data. With blockchain technology, the digitization of assets can be decentralized, trustful, traceable, highly transparent, and free of intermediaries. On the NEO blockchain, users are able to register, trade, and circulate multiple types of assets. Proving the connection between digital and physical assets is possible through digital identity. Assets registered through a validated digital identity are protected by law.
Digital Identity
Digital identity refers to the identity information of individuals, organizations, and other entities that exist in electronic form. The more mature digital identity system is based on the PKI (Public Key Infrastructure) X.509 standard. In NEO, we will implement a set of X.509 compatible digital identity standards. This set of digital identity standards, in addition to compatible X.509 level certificate issuance model, will also support Web Of Trust point-to-point certificate issuance model. Our verification of identity when issuing or using digital identities includes the use of facial features, fingerprint, voice, SMS and other multi-factor authentication methods.
Smart Contracts
The NeoContract smart contract system is the biggest feature of the seamless integration of the existing developer ecosystem. Developers do not need to learn a new programming language but use C#, Java and other mainstream programming languages in their familiar IDE environments (Visual Studio, Eclipse, etc.) for smart contract development, debugging and compilation. NEO's Universal Lightweight Virtual Machine, NeoVM, has the advantages of high certainty, high concurrency, and high scalability. The NeoContract smart contract system will allow millions of developers around the world to quickly carry out the development of smart contracts.
Economic Model
NEO has two native tokens, NEOand NeoGas NEO represents the right to manage the network. Management rights include voting for bookkeeping, NEO network parameter changes, and so on. The minimum unit of NEO is 1 and tokens cannot be subdivided. GAS is the fuel token for the realization of NEO network resource control. The NEO network charges for the operation and storage of tokens and smart contracts, thereby creating economic incentives for bookkeepers and preventing the abuse of resources. The minimum unit of GAS is 0.00000001.
Distribution Mechanism
NEO's 100 million tokens are divided into two portions. The first portion is 50 million tokens distributed proportionally to supporters of NEO during the crowdfunding. This portion has been distributed.
The second portion is 50 million NEO managed by the NEO Council to support NEO's long-term development, operation and maintenance and ecosystem. The NEO in this portion has a lockout period of 1 year and is unlocked only after October 16, 2017. This portion WILL NOT enter the exchanges and is only for long-term support of NEO projects. The plans for it are as below:
▪ 10 million tokens (10% total) will be used to motivate NEO developers and members of the NEO Council
▪ 10 million tokens (10% total) will be used to motivate developers in the NEO ecosystem
▪ 15 million tokens (15% total) will be used to cross-invest in other block-chain projects, which are owned by the NEO Council and are used only for NEO projects
▪ 15 million (15% total) will be retained as contingency
▪ The annual use of NEO in principle shall NOT exceed 15 million tokens
GAS distribution
GAS is generated with each new block. The initial total amount of GAS is zero. With the increasing rate of new block generation, the total limit of 100 million GAS will be achieved in about 22 years. The interval between each block is about 15-20 seconds, and 2 million blocks are generated in about one year. According to this release curve, 16% of the GAS will be created in the first year, 52% of the GAS will be created in the first four years, and 80% of the GAS will be created in the first 12 years. GAS will be distributed proportionally in accordance with the NEO holding ratio, recorded in the corresponding addresses. NEO holders can initiate a claim transaction at any time and claim these GAS tokens at their holding addresses.
Consensus mechanism: dBFT
The dBFT is called the Delegated Byzantine Fault Tolerant, a Byzantine fault-tolerant consensus mechanism that enables large-scale participation in consensus through proxy voting. The holder of the NEO token can, by voting, pick the bookkeeper it supports. The selected group of bookkeepers, through BFT algorithm, reach a consensus and generate new blocks. Voting in the NEO network continues in real time, rather than in accordance with a fixed term.
Cross-chain assets exchange agreement
NeoX has been extended on existing double-stranded atomic assets exchange protocols to allow multiple participants to exchange assets across different chains and to ensure that all steps in the entire transaction process succeed or fail together. In order to achieve this function, we need to use NeoContract function to create a contract account for each participant. If other blockchains are not compatible with NeoContract, they can be compatible with NeoX as long as they can provide simple smart contract functionality.
Cross-chain distributed transaction protocol
Cross-chain distributed transactions mean that multiple steps of a transaction are scattered across different blockchains and that the consistency of the entire transaction is ensured. This is an extension of cross-chain assets exchange, extending the behavior of assets exchange into arbitrary behavior. In layman's terms, NeoX makes it possible for cross-chain smart contracts where a smart contract can perform different parts on multiple chains, either succeeding or reverting as a whole. This gives excellent possibilities for cross-chain collaborations and we are exploring cross-chain smart contract application scenarios.
Distributed Storage Protocol: NeoFS
NeoFS is a distributed storage protocol that utilizes Distributed Hash Table technology. NeoFS indexes the data through file content (Hash) rather than file path (URI). Large files will be divided into fixed-size data blocks that are distributed and stored in many different nodes
Anti-quantum cryptography mechanism: NeoQS
The emergence of quantum computers poses a major challenge to RSA and ECC-based cryptographic mechanisms. Quantum computers can solve the large number of decomposition problems (which RSA relies on) and the elliptic curve discrete logarithm (which ECC relies on) in a very short time. NeoQS (Quantum Safe) is a lattice-based cryptographic mechanism. At present, quantum computers do not have the ability to quickly solve the Shortest Vector Problem (SVP) and the Closest Vector Problem (CVP), which is considered to be the most reliable algorithm for resisting quantum computers.
Reasons for choosing dBFT over PoW and PoS:
With the phenomenal success of Bitcoin and its increasing mainstream adoption, the project’s unbounded appetite for energy grew accordingly. Today, the average Bitcoin transaction costs as much energy as powering 3.67 average American homes, which amounts to about 3000 times more than a comparable Credit Card settlement.
This mind boggling amount of energy is not, as it is commonly believed, being wasted. It is put to good use: securing the Bitcoin network and rendering attacks on it infeasible. However, the cost of this security mechanism and its implications for an increasingly warming and resource hungry planet led almost the entire crypto industry to the understanding that an alternative has to be found, at least if we’re interested in seeing blockchain technology gaining overwhelming mainstream adoption.
The most popular alternative to PoW, used by most alternative cryptocurrency systems, is called Proof-of-Stake, or PoS. PoS is highly promising in the sense that it doesn’t require blockchain nodes to perform arduous, and otherwise useless, cryptographic tasks in order to render potential attacks costly and infeasible. Hence, this algorithm cuts the power requirements of PoS blockchains down to sane and manageable amounts, allowing them to be more scalable without guzzling up the planet's energy reserves.
As the name suggests, instead of requiring proof of cryptographic work, PoS requires blockchain nodes to proof stake in the currency itself. This means that in order for a blockchain node to be eligible for a verification reward, the node has to hold a certain amount of currency in the wallet associated with it. This way, in order to execute an attack, a malevolent node would have to acquire the majority of the existing coin supply, rendering attacks not only costly but also meaningless, since the attackers would primarily harm themselves.
PoS, as well as PoW, simply cause the blockchain to fork into two alternative versions if for some reason consensus breaks. In fact, most blockchains fork most of the time, only to converge back to a single source of truth a short while afterwards.
By many crypto enthusiasts, this obvious bug is very often regarded as a feature, allowing several versions of the truth to survive and compete for public adoption until a resolution is generated. This sounds nice in theory, but if we want to see blockchain technology seriously disrupt and/or augment the financial sector, this ever lurking possibility of the blockchain splitting into two alternative versions cannot be tolerated.
Furthermore, even the fastest PoS blockchains out there can accomodate a few hundred transactions per second, compare that to Visa’s 56,000 tx/s and the need for an alternative becomes clear as day.
A blockchain securing global stock markets does not have the privilege to fork into two alternative versions and just sit and wait it out until the market (or what’s left of it) declares a winner. What belongs to whom should be engraved in an immutable record, functioning as a single source of truth with no glitches permitted.
After investigating and studying the crypto industry and blockchain technologies for several years, we came to the conclusion that the delegated Byzantine Fault Tolerance alternative (or dBFT) is best suited for such a system. It provides swift transaction verification times, de-incentivises most attack vectors and upholds a single blockchain version with no risk of forks or alternative blockchain records emerging - regardless of how much computing power, or coins an attacker possesses.
The term Byzantine Fault Tolerance (BFT) derives its name from the Byzantine Generals problem in Game Theory and Computer Science, describing the problematic nature of achieving consensus in a distributed system with suboptimal communication between agents which do not necessarily trust each other.
The BFT algorithm arranges the relationship between blockchain nodes in such a way that the network becomes as good as resilient to the Byzantine Generals problem, and allows the system to remain consensus even if some nodes bare malicious intentions or simply malfunction.
To achieve this, Antshare’s version of the delegated BFT (or dBFT) algorithm acknowledges two kinds of players in the blockchain space: professional node operators, called bookkeeping nodes, who run nodes as a source of income, and users who are interested in accessing blockchain advantages. Theoretically, this differentiation does not exist in PoW and most PoS environments, practically, however, most Bitcoin users do not operate miners, which are mostly located in specialized venues run by professionals. At Antshares we understand the importance of this naturally occurring division of labor and use it to provide better security for our blockchain platform.
Accordingly, block verification is achieved through a consensus game held between specialized bookkeeping nodes, which are appointed by ordinary nodes through a form of delegated voting process. In every verification round one of the bookkeeping nodes is pseudo-randomly appointed to broadcast its version of the blockchain to the rest of the network. If ⅔ of the remaining nodes agree with this version, consensus is secured and the blockchain marches on. If less than ⅔ of the network agrees, a different node is appointed to broadcast its version of the truth to the rest of the system, and so forth until consensus is established.
In this way, successful system attacks are almost impossible to execute unless the overwhelming majority of the network is interested in committing financial suicide. Additionally, the system is fork proof, and at every given moment only one version of the truth exists. Without complicated cryptographic puzzles to solve, nodes operate much faster and are able to compete with centralized transaction methods.
https://www.econotimes.com/Blockchain-project-Antshares-explains-reasons-for-choosing-dBFT-over-PoW-and-PoS-659275
OnChain
It is important to note the technical difference between Onchain and NEO. Onchain is a private VC-backed company with over 40 employees. NEO is a public platform with different community-led groups contributing to this public project. There exists NEO council comprised of the original NEO creators, employees from Onchain, full time NEO council members and there is also the first Western based group called City of Zion. This confusion is likely the source of the rumour about Antshares and Alibaba having a connection. Onchain and NEO are separate entities who are intimately related via cross-chain communications and similar designs.
Onchain, a Shanghai-based blockchain R&D company, first started developing Antshares in February of 2014 which will eventually become the foundation of DNA. Onchain was founded by CEO Da HongFei and CTO Erik Zhang in response to the attention from private companies garnered by the development of Antshares, China’s first public blockchain. In contrast to the weeks-old start-ups launching ICOs that is happening currently in the blockchain world, it took them 22 long months of R&D to even begin providing services to their first customers. Finally, in April 2016, the first whitepaper on consensus protocol from China was born — the dBFT (delegated Byzantine Fault Tolerance) protocol.
2016 was a busy year for Onchain and they really picked up the pace that year. Other than continuing the development of Antshares, brushing shoulders with Fortune 500 companies, Onchain became the first Chinese blockchain company to join Hyperledger — an open source blockchain project started by the Linux Foundation specifically focusing on the development of private and consortium chains for businesses. It is here where the Da HongFei and Erik Zhang, entered the hyperbolic time chamber that is now known as Fabric, a platform by Hyperledger for distributed ledger solutions, and has consequently helped them to develop many aspects underpinning the design of DNA.
In June of 2016, during the first of many future partnerships with Microsoft China, Onchain founded Legal Chain specifically targeting the inadequacies of the digital applications within the legal system. In 2005, (Digital Signature Act) was passed into national law which permitted an effective digital signatures to gain the same legal rights as a real signature.
In company with Microsoft China, they are also aiming to integrate the technology with Microsoft’s face and voice recognition API function to kick start this digital revolution within the legal system. At the same time, a partnership was formed with FaDaDa, a third-party platform for electronic contracts that has processed over 27 million contracts to date, to provide secure evidence storage with DNA. If that’s not enough, they were also voted as KPMG’s top 50 Fintech Company in China and established a relationship with the Japanese Ministry of Economy, Trade and Industry which led to the recent tour to Japan. Finally, at the end of 2016 they announced a partnership with Alibaba to provide attested email service for Ali Cloud with Legal Chain where it provides a proof-of-existence for a blockchain-powered email evidence repository for enterprise-level use.
Fosun Group, China’s largest private conglomerate, have recently invested into Onchain in order to apply DNA across all of its businesses. Currently, Fosun International has a market cap of 102.98 billion dollars on the Hong Kong Stock Exchange and that is only its international branch.
The role of Onchain so far is reminiscent of Ethereum’s EEA in addition to a stronger emphasis of governmental cooperation. Onchain has identified the shortcomings of present laser focus of hype on public platforms such as NEO and Ethereum and addressing that with DNA. DNA envisions a future where a network of assorted, specifically designed blockchains serving private enterprises, consortiums, government and the public communicating with each other forming an interconnected blockchain network.
This is the goal of DNA — infiltrating every little inefficient niche that had no better alternatives before the invention of blockchain. What is especially critical to remember during this explosive time of hype driven partly by the obscene degree of greed is that not every little niche that blockchain can fill will be holding its own little ICO for you to “go to the moon on your rocket powered lambos”. Some of those efficiencies gained will simply be consumed by companies privately or by public systems such as the legal system.
https://hackernoon.com/neo-onchain-and-its-ultimate-plan-dna-4c33e9b6bfaa
http://www.onchain.com/
https://github.com/DNAProject/DNA
https://siliconangle.com/blog/2016/10/20/onchain-partners-with-alibaba-for-blockchain-powered-email-evidence-repository/
https://www.reuters.com/article/us-fosun-blockchain/chinas-fosun-invests-in-local-version-of-bitcoin-tech-blockchain-idUSKCN1B30KM
City of Zion (CoZ)
City of Zion (CoZ) is a global community of open source enthusiasts, with the shared goal of helping NEO achieve its full potential. CoZ primarily operates through the community Slack and CoZ Github, central places where the community shares knowledge and contributes to projects.
CoZ is neither a corporation, nor a consulting firm or a devshop / for-hire group.
Members
https://imgur.com/a/Gc9jT
CoZ aims to be low barrier of entry, the process is straightforward:
  1. Join the channel #develop.
  2. Fork or create a project.
  3. Publish as open source.
  4. After a couple of contributions a CoZ council member will invite you to the proper channel for your contributions.
  5. Receive rewards and back to 3.
Unit testing - Ongoing effort to implement code coverage for the core
Integration testing - Tools for automated testing, performance metrics and functionality validation on private test nets
Continuous integration - Automated multi-platform testing of all pull requests at GitHub.
Deployment pipeline - Automated tools and processes to ensure fast and reliable updates upon code changes
New C# implementation (NEO2) - Improve code quality, speed & testability
Roadmap
https://imgur.com/a/4CDhw
dApps competition
https://cityofzion.io/dapps/1
10 prizes of 1350 GAS, with 500 GAS to be used for smart contract deployment. Currently 19 dApps registered. Deadline is 16 of November 11:59 EST.
https://drive.google.com/drive/folders/0B4wu5lNlukwybEstaEJMZ19kbjQ
Traveling
August 8th to August 12th:
From August 8th to August 12th, 2017, the NEO core team, led by founder & CEO Da Hongfei will travel to Japan to explore the forefront of Japan's Blockchain innovation. This trip represents the first in a series of trips around the world with the goal to foster international cooperation's and to keep up with the fast pace in Blockchain innovation. Starting in Japan, the NEO core team will visit famous local Blockchain research institutions and active communities to engage in bilateral communication. NEO will meet with Japanese tech-celebrities to gain insights about the latest developments in the Japanese Blockchain and digital currency community. Additionally, Japanese local tech media will conduct an interview allowing NEO to present its development status and its latest technological innovations.
https://www.reddit.com/NEO/comments/6ry4s9/japan_the_neo_core_team_starts_out_on_an/
https://www.youtube.com/watch?v=SgTQ32CkxlU
https://www.reddit.com/NEO/comments/6ssfx1/neo_meetup_in_tokyo_august_10th_2017_2100h/
19th August, 2017
Blockchain X Series - NEO example applications
20th August, 2017
NEO and Microsoft Azure host a blockchain programming training in Shanghai
23rd August, 2017
INNOxNEO Blockchain Open Nights: 2nd Meeting
24th August, 2017
NEO Meetup in Taipei
https://www.reddit.com/NEO/comments/6wbebneo_taipei_meetup_long_post/
13th September, 2017
INNOxNEO Blockchain Open Nights: 3rd Meeting
14th September, 2017
NEO Shanghai Meetup with NEO team
24th September, 2017
NEO Blockchain Programming Day - Hangzhou Station
27th September, 2017
INNOxNEO Blockchain Open Nights: 4th Meeting
27th September, 2017
First London NEO Developer Meetup!
4th October, 2017
First San Francisco NEO Developer Social!
14th-16th October, 2017
GNOME.Asia Summit 2017, Chongqing, China
21st October, 2017
NEO JOY, Exploring Blockchain application, Nanjing, China
26th October, 2017
Inaugural Global Fintech & Blockchain China Summit 2017
Networks proves itself with the first ICO
ICOs, on other platforms such as Ethereum, often resulted in a sluggish network and transaction delays. While NEO’s dBFT consensus algorithm is designed to achieve consensus with higher efficency and greater network throughputt, no amount of theoretical calculations can simulate the reality of real-life conditions.
--Key Observations--
Smart Contract Invocations:
A total of 13,966 smart contracts invocations were executed on the NEO network over this time period, of which, nearly all called the RPX smart contract method mintTokens. A total of 543,348,500 RPX tokens were successfully minted and transferred to user accounts, totalling 10,097 smart contract executions.
Refunded Invocations:
A total of 4182 refund events were triggered by the smart contract method mintTokens. (Note: RPX has stated that these refunds will be processed within the next two weeks.)
Crowdsale statistics:
A successful mintTokens execution used around 1043 VM operations, while an execution that resulted in a refund used 809 VM operations. Within the hour and six minutes that the token sale was active, a total of 12,296,409 VM operations were executed. A total of 9,575 unique addresses participated in the RPX ICO. Half of these, approximately 4,800 unique addresses, participated through CoZ’s Neon wallet. The top 3 blocks with the most transactions were block 1445025 (3,242 transactions), block 1444902 (2,951 transactions), and block 1444903 (1609 transactions).
Final Thoughts
At the moment, the consensus nodes for the NEO network are operated by the NEO Council in China. By Q1 2018, NEO Council aims to control less than two-thirds of the consensus nodes.
We are pleased to note that the NEO network continuted to operate efficiently with minimal network impact, even under extreme network events. Block generation time initially slowed down to 3 minutes to process the largest block, but quickly recovered to approximately 25 seconds. Throughout the entire RPX ICO, consensus nodes were able to achieve consensus and propagate new block transactions to the rest of the network. In closing, while we consider this performance to be excellent, NEO Council and City of Zion areworking closely together on upgrades, that will increase the throughputs of the NEO network.
Hyperledger
Members and governance of Hyperledger:
Early members of the initiative included blockchain ISVs, (Blockchain, ConsenSys, Digital Asset, R3, Onchain), well-known technology platform companies (Cisco, Fujitsu, Hitachi, IBM, Intel, NEC, NTT DATA, Red Hat, VMware), financial services firms (ABN AMRO, ANZ Bank, BNY Mellon, CLS Group, CME Group, the Depository Trust & Clearing Corporation (DTCC), Deutsche Börse Group, J.P. Morgan, State Street, SWIFT, Wells Fargo), Business Software companies like SAP, Systems integrators and others such as: (Accenture, Calastone, Credits, Guardtime, IntellectEU, Nxt Foundation, Symbiont).
The governing board of the Hyperledger Project consists of twenty members chaired by Blythe Masters, (CEO of Digital Asset), and a twelve-member Technical Steering Committee chaired by Christopher Ferris, CTO of Open Technology at IBM.
http://www.8btc.com/onchain-hyperledger
https://en.wikipedia.org/wiki/Hyperledger
“As a leading open-source contributor in China’s blockchain community, Onchain shares the same values as the Linux Foundation and the Hyperledger project intrinsically. We believe international collaboration plus local experience are key to the adoption of distributed ledger technology in China; we are also very excited to see other Chinese blockchain startups join Hyperledger and look forward to adding our combined expertise to the project.” Da Hongfei, Founder and CEO of Onchain
https://hyperledger.org/testimonials/onchain
Important Articles
Distribution technology DNA framework went through the national block chain standard test On May 16th, the first China block chain development competition in Hangzhou announced that Onchain, became the first through the national standard test block system.
http://www.51cto.com/art/201705/539824.htm?mobile
Da Hongfei and OnChain working relationship with Chinese Government
https://finance.sina.cn/2017-04-13/detail-ifyeifqx5554606.d.html?from=wap
http://www.gz.chinanews.com/content/2017/05-28/73545.shtml
The Chinese government is reportedly preparing to allow the resumption of cryptocurrency trading in the country in the coming months, with the required anti-money laundering (AML) systems and licensing programs in place.
https://coingeek.com/cryptocurrency-trading-poised-to-make-a-return-in-china-report/
Japanese Ministry of Economy, Trade and Industry - Working with OnChain and NEO
http://www.8btc.com/onchain-ribenjingjichanyesheng
Notice NEO will be invited to attend the INNO x Austrade China-Australia chain high-end exchange
AUSTRADE - The Australian Trade and Investment Commission is the official government, education and investment promotion agency of the Australian Government
https://mp.weixin.qq.com/s/LmXnW7MtzOX_fqIo7diU9A
Source for NEO/OnChain Microsoft Cooperation:
http://www.8btc.com/onchain-microsoft
Da Hongfei quotes
"There is no direct cooperation between Alibaba and NEO/Onchain, other than their mailbox service is using Law Chain to provide attested email service. In terms of Microsoft, yes we have cooperation with Microsoft China because NEO is built with C# and .NET Core, and NeoContract is the first in the world to support writing smart contract with C#"
https://www.reddit.com/NEO/comments/6puffo/we_are_da_hongfei_and_erik_zhang_founders_of_neo/dksm5ga/
"We have pretty good communication with government, with regulators. They don't have any negative impression with NEO and they like our technology and the way we deal with things. Regulation is not an issue for us"
https://www.youtube.com/watch?v=qpUdTIQdjVE&feature=youtu.be&t=1m16s
“Before they started cleaning up the market, I was asked for information and suggestions” “I do not expect the government to call me in the short-term and say, ‘Let’s use NEO as the blockchain technology infrastructure of China.’ But in the medium term? Why not? I think it’s possible.”
https://medium.com/@TheCoinEconomy/neo-founder-da-hongfei-advised-china-on-ico-exchange-ban-says-govt-4631b9f7971
-Upcoming Roadmap-
Decentralization of consensus nodes
▪ P2P Network optimization (2017Q4) – Network optimizations to ensure fast block generation after decentralization.
▪ Voting Algorithm Optimization (2017Q4) – Adjustments in voting algorithm to prevent identified attack vectors.
▪ Candidate List Website (2018Q1) – Published list of candidates so that voters know who they are voting for.
▪ NEO Council Consensus Node < 2/3 (2018Q1) – NEO Council shall operate less than two thirds of consensus nodes by the end of quarter 1, 2018.
Universal Data Format for Wallet/Node Prog.
▪ NEP2 – Private Key Encryption/Decryption (2017Q4) - Method for encrypting and encoding a passphrase-protected private key.
▪ NEP3 – Universal Data Format (2017Q4) – Standard data format to allow easier wallet and node programming.
https://neo.org/en-us/blog/details/65
Promotion/Ecosystem
▪ Globally Legal Token-raising Framework (2017Q4) – Following government interest to regulate ICO’s, NEO will complete a framework to raise tokens legally in all major markets by the end of 2017.
▪ NEO DevCon 1 (2017Q4) – First NEO Development Conference! More details at later date.
▪ CoZ Funding (2017Q4) – Continuous funding plan for CoZ covering next 5 years.
▪ Seed Projects (2017Q4) – First seed projects to be cross-invested with the dedicated NEO pool.
https://neo.org/en-us/blog/details/65
https://github.com/neo-project
Repositories - 14
People - 5
Contributors- 12
https://github.com/CityOfZion
Repositories - 35
People - 14
Contributors- 22
https://github.com/DNAProject/DNA
Repositories - 4
Contributors - 17
Donations welcome: ASdNxSa3E8bsxCE9KFKBMm3NA43sYJU9qZ
submitted by NEOcryptotrader to CryptoCurrency [link] [comments]

My growing collection of info about NEO Vol. 2

It can be very time consuming to keep up to date on a single blockchain. If you just heard about NEO a few weeks ago it would be impossible catch up on past occurrences. I’m going to try and simplify the past, present and future as much as I can into one well thought-out post.
 
I made the first Volume around 6 weeks ago
https://www.reddit.com/CryptoCurrency/comments/75mul5/my_growing_collection_of_info_about_neo/
 
I felt it was time for an update since so much has happened.
If you want the up to date version in between Vol updates visit NEO and its located on the #3 top post of all time.
[Note: This Post is at max characters (40,000), some information will be left out]
 
https://imgur.com/a/NBI7S (img for mobile backround)
 

NEO dApps / Partnerships / ICO's

https://neo.org/dapps
 
Red Pulse $RPX (ICO Completed)
A next generation intelligence and content ecosystem for China markets
https://coin.red-pulse.com/
 
Neon Exchange $NEX (Upcoming ICO on NEO) (strategic collaboration with NEO)
NEX is a platform for complex decentralized cryptographic trade and payment service creation
https://twitter.com/neonexchange
https://neonexchange.org/
https://neonexchange.org/pdfs/whitepaper_v1.1.pdf
 
Elastos $ELA (strategic collaboration with NEO)
Blockchain Driven Internet
NEO will make itself compatible with Elastos, and Elastos will also support NEOVM, and allow the writing of smart contracts with established languages, such as C# and Java. Elastos will be an OS for the Blockchain, and NEO can help developers quickly create Blockchain applications. The combination of the two could connect different developers from around the world, forming a strong ecosystem for application development―all to better serve a Smart Economy.
http://www.elastos.org/
https://twitter.com/ElastosI
https://www.reddit.com/NEO/comments/6r1a6f/neo_and_elastos_reaching_strategic_collaboration/
 
Ontology $ONT (Partnership with NEO)
Ontology Network (ONT) is a blockchain/distributed ledger network which combines distributed identity verification, data exchange, data collaboration, procedure protocols, communities, attestation, and various industry-specific modules. Together this builds the infrastructure for a peer-to-peer trust network which is cross-chain, cross-system, cross-industry, cross-application, and cross-device.
 
NEO will be the primary digital assets service provider for clearing and settlement on Ontology. There is no contract between Ontology and NEO now, though Ontology and NEO already have an established partnership. One thing on the roadmap is that in the future business scenarios on Ontology want to hold ICOs they will be able to on NEO.
https://ont.io/#/home
https://www.reddit.com/NEO/comments/7f8bvb/ontology_network_ama_answers/
https://www.youtube.com/watch?v=lPWwcgpc3P0
https://twitter.com/OntologyNetwork?lang=en
https://imgur.com/a/Emo4Q
 
The Key $TKY (Upcoming ICO ) (strategic cooperation with NEO)
THEKEY is a Decentralized Ecosystem of Identity Verification Tool Using National Big-data and Blockchain. THEKEY team is now developing second generation on-line identify verification technology. NEO Smart Economy = Digital Asset + Smart Contract + Digital Identity, while digital identity is an indispensable element. With NEO technical support, the strategic corporation between THEKEY and NEO will provide better protection to your digital asset.
https://www.thekey.vip/
https://www.reddit.com/NEO/comments/7areac/ama_on_9th_nov_thekey_a_decentralized_ecosystem/
 
Qlink $QLC (Partnership with NEO) (Multi-chain) (Upcoming ICO on NEO)
World’s First Decentralized Mobile Network
Qlink, a decentralized mobile network, is dedicated to constructing an open-source telecom infrastructure on blockchain.
https://twitter.com/QlinkMobi
https://www.qlink.mobi/f/qlink
https://neonewstoday.com/general/qlink-partner-with-neo/
 
PeerAtlas $ATLAS (Upcoming ICO on NEO)
ATLAS: A Digital Token Supporting an Open-Source Medical Encyclopedia
http://www.peeratlas.com/
http://www.peeratlas.com/whitepaper.pdf
https://neonewstoday.com/interviews/peeratlas-q-a-colin-closse
 
High Performance Blockchain $HPB (ICO Completed)
HPB is a new blockchain architecture, positioned as an easy-to-use, highperformance blockchain platform. It aims to extend the performance of distributed applications to meet real world business needs. This is achieved by creating an architecture similar to an API operating system. The software architecture provides accounts, identity and authorization management, policy management, databases, and asynchronous communication on thousands of CPUs, FPGAs or clustered program schedulers. This blockchain is a new architecture that can support millions of transactions per second and support authorizations within seconds.
http://www.gxn.io/en.html
http://www.gxn.io/files/hpb_white_paper_en.pdf
https://www.allcoin.com/markets/HPB-BTC/0/
 
Aphelion $APH (ICO In Progress)
A Revolutionary Decentralized P2P Exchange Solution
https://aphelion.org/
https://aphelion.org/wp.html
https://github.com/Aphelion
 
Zeepin $ZPT (Crowd sale will start Jan 18, 2018) (Upcoming ICO on NEO)
The Distributed Creative New Economy.
Zeepin, a decentralized innovation community, is dedicated to promoting highly efficient circulation of innovation assets.
https://www.zeepin.io/
https://www.zeepin.io/Whitepaper_En_v1.0.pdf
https://github.com/zeepin
https://www.reddit.com/NEO/comments/7f94vs/ama_from_today_nov_24th_zeepin_the_distributed/
 
Stokit (Upcoming ICO on NEO)
Decentralized cloud storage
https://stokit.io/
Whitepaper release: 30th of November 2017
 
Universal Health Coin (Upcoming ICO on NEO )
http://www.universalhealthcoin.com/
 
AdEx (dApp built on NEO)
http://adex.network/
https://twitter.com/AdEx_Network/status/897529249661423616
 
 
Alphacat
More Information to come soon after Video is released from the Meetup
https://www.meetup.com/de-DE/Onchains-Blockchain-Project-Launch-NEO-Ecosystem-Sharing/events/245101761/
 
DeepBrain
More Information to come soon after Video is released from the Meetup
https://www.meetup.com/de-DE/Onchains-Blockchain-Project-Launch-NEO-Ecosystem-Sharing/events/245101761/
 
 

City of Zion (CoZ)

https://cityofzion.io/
https://medium.com/@cityofzion
https://medium.com/proof-of-working
https://steemit.com/@canesin
 
City of Zion (CoZ) is an independent group of open source developers, designers and translators formed to support the NEO BlockChain core and ecosystem.
CoZ primarily operates through the community Slack and CoZ Github, central places where the community shares knowledge and contributes to projects.
CoZ is neither a corporation, nor a consulting firm or a devshop / for-hire group.
Members
https://imgur.com/a/Gc9jT
CoZ aims to be low barrier of entry, the process is straightforward:
  1. Join the channel #develop.
  2. Fork or create a project.
  3. Publish as open source.
  4. After a couple of contributions a CoZ council member will invite you to the proper channel for your contributions.
  5. Receive rewards and back to 3.
Unit testing - Ongoing effort to implement code coverage for the core
Integration testing - Tools for automated testing, performance metrics and functionality validation on private test nets
Continuous integration - Automated multi-platform testing of all pull requests at GitHub.
Deployment pipeline - Automated tools and processes to ensure fast and reliable updates upon code changes
New C# implementation (NEO2) - Improve code quality, speed & testability
 
Roadmap
https://imgur.com/a/4CDhw
 
dApps competition
https://cityofzion.io/dapps/1
10 prizes of 1350 GAS, with 500 GAS to be used for smart contract deployment.
Deadline was the 16 of November 11:59 EST.
http://cityofzion.io/dapps/1 (Check out page to view websites / Githubs)
1st: NEO Smart IoT
2nd: imusify
3rd: Chain Line
4th: BlockAuth
5th: Phantasma
6th: NeoTrade
7th: Turing Complete Smart Contract
8th: KRYPTON
9th: Switcheo
10th: TripShares
https://drive.google.com/drive/folders/0B4wu5lNlukwybEstaEJMZ19kbjQ
 

NEO and Microsoft China Dev Competition

 

Competition Rules

  1. The competition will open on November 20, 2017 and close at 11:59 PM Beijing time (GMT+8), March 10, 2018. Please sign up and submit your work before the deadline.
  2. Participants are required to develop on the NEO blockchain. Please refer to github.com/neo-project and docs.neo.org for relevant codes and technical documents.
  3. During the competition, developers are free to collaborate and to submit their work as a team.
  4. Teams or individuals who fail to submit their work before 11:59 PM Beijing time (GMT+8), March 10, 2018 will not be eligible for prizes.
  5. Your submission must contain executable programs and codes.
 
$150,000 First prize(1 team)
$50,000 Second prize(2 teams)
$30,000 Third prize(3 teams)
$15,000 Award of merit(10 teams)
 
A judging panel made up of NEO founder Da Hongfei,NEO Founder & Core Developer Erik Zhang, CoZ founder Fabio, Elastos founder Chen Rong,ONT Founder Li Jun and experts from Microsoft China will select 16 winners out of all the contestants for a bounty pool worth a total of USD 490,000.
 
Total sign-ups :194 Data collected as of 2017/11/28
 
Country Sign-ups
China 48
USA 31
India 12
Norway 7
France 6
Other 90
 
https://neo.org/competition.html
 
 

ICO Firm

 
Projectico
A service that helps others launch a token sale if it is right for their cause and will be using NEO in most instances going forward. We have created a foundation that is bringing compliance and trust to the marketplace for ICOs and allowing international people to still participate.
https://www.projectico.io/
https://www.reddit.com/NEO/comments/7dd3s0/ama_on_20_nov_projectico_a_us_based_turnkey_token/
 
 

Key notes from the White Paper

http://docs.neo.org/en-us/
 
Digital Assets
Digital assets are programmable assets that exist in the form of electronic data. With blockchain technology, the digitization of assets can be decentralized, trustful, traceable, highly transparent, and free of intermediaries.
 
Digital Identity
Digital identity refers to the identity information of individuals, organizations, and other entities that exist in electronic form.
Our verification of identity when issuing or using digital identities includes the use of facial features, fingerprint, voice, SMS and other multi-factor authentication methods.
 
Smart Contracts
The NeoContract smart contract system is the biggest feature of the seamless integration of the existing developer ecosystem. Developers do not need to learn a new programming language but use C#, Java and other mainstream programming languages in their familiar IDE environments (Visual Studio, Eclipse, etc.) for smart contract development, debugging and compilation. NEO's Universal Lightweight Virtual Machine, NeoVM, has the advantages of high certainty, high concurrency, and high scalability. The NeoContract smart contract system will allow millions of developers around the world to quickly carry out the development of smart contracts.
 
Economic Model
NEO has two native tokens, NEOand NeoGas NEO represents the right to manage the network. Management rights include voting for bookkeeping, NEO network parameter changes, and so on. The minimum unit of NEO is 1 and tokens cannot be subdivided. GAS is the fuel token for the realization of NEO network resource control. The NEO network charges for the operation and storage of tokens and smart contracts, thereby creating economic incentives for bookkeepers and preventing the abuse of resources. The minimum unit of GAS is 0.00000001.
 
Distribution Mechanism
NEO's 100 million tokens are divided into two portions. The first portion is 50 million tokens distributed proportionally to supporters of NEO during the crowdfunding. This portion has been distributed.
The second portion is 50 million NEO managed by the NEO Council to support NEO's long-term development, operation and maintenance and ecosystem. The NEO in this portion has a lockout period of 1 year and is unlocked only after October 16, 2017. This portion will NOT enter the exchanges and is only for long-term support of NEO projects. The plans for it are as below:
▪ 10 million tokens (10% total) will be used to motivate NEO developers and members of the NEO Council
▪ 10 million tokens (10% total) will be used to motivate developers in the NEO ecosystem
▪ 15 million tokens (15% total) will be used to cross-invest in other block-chain projects, which are owned by the NEO Council and are used only for NEO projects
▪ 15 million (15% total) will be retained as contingency
▪ The annual use of NEO in principle shall NOT exceed 15 million tokens
 
GAS distribution
GAS is generated with each new block. The initial total amount of GAS is zero. With the increasing rate of new block generation, the total limit of 100 million GAS will be achieved in about 22 years. The interval between each block is about 15-20 seconds, and 2 million blocks are generated in about one year. According to this release curve, 16% of the GAS will be created in the first year, 52% of the GAS will be created in the first four years, and 80% of the GAS will be created in the first 12 years. GAS will be distributed proportionally in accordance with the NEO holding ratio, recorded in the corresponding addresses. NEO holders can initiate a claim transaction at any time and claim these GAS tokens at their holding addresses.
 
Consensus mechanism: dBFT
The dBFT is called the Delegated Byzantine Fault Tolerant, a Byzantine fault-tolerant consensus mechanism that enables large-scale participation in consensus through proxy voting. The holder of the NEO token can, by voting, pick the bookkeeper it supports. The selected group of bookkeepers, through BFT algorithm, reach a consensus and generate new blocks. Voting in the NEO network continues in real time, rather than in accordance with a fixed term.
 
Cross-chain assets exchange agreement
NeoX has been extended on existing double-stranded atomic assets exchange protocols to allow multiple participants to exchange assets across different chains and to ensure that all steps in the entire transaction process succeed or fail together. In order to achieve this function, we need to use NeoContract function to create a contract account for each participant. If other blockchains are not compatible with NeoContract, they can be compatible with NeoX as long as they can provide simple smart contract functionality.
 
Cross-chain distributed transaction protocol
Cross-chain distributed transactions mean that multiple steps of a transaction are scattered across different blockchains and that the consistency of the entire transaction is ensured. This is an extension of cross-chain assets exchange, extending the behavior of assets exchange into arbitrary behavior. In layman's terms, NeoX makes it possible for cross-chain smart contracts where a smart contract can perform different parts on multiple chains, either succeeding or reverting as a whole. This gives excellent possibilities for cross-chain collaborations and we are exploring cross-chain smart contract application scenarios.
 
Distributed Storage Protocol: NeoFS
NeoFS is a distributed storage protocol that utilizes Distributed Hash Table technology. NeoFS indexes the data through file content (Hash) rather than file path (URI). Large files will be divided into fixed-size data blocks that are distributed and stored in many different nodes
 
Anti-quantum cryptography mechanism: NeoQS
The emergence of quantum computers poses a major challenge to RSA and ECC-based cryptographic mechanisms. Quantum computers can solve the large number of decomposition problems (which RSA relies on) and the elliptic curve discrete logarithm (which ECC relies on) in a very short time. NeoQS (Quantum Safe) is a lattice-based cryptographic mechanism.
 

Reasons for choosing dBFT over PoW and PoS

 
With the phenomenal success of Bitcoin and its increasing mainstream adoption, the project’s unbounded appetite for energy grew accordingly. Today, the average Bitcoin transaction costs as much energy as powering 9.3 average American homes for 1 day.
https://digiconomist.net/bitcoin-energy-consumption#assumptions
This mind boggling amount of energy is not, as it is commonly believed, being wasted. It is put to good use: securing the Bitcoin network and rendering attacks on it infeasible. However, the cost of this security mechanism and its implications for an increasingly warming and resource hungry planet led almost the entire crypto industry to the understanding that an alternative has to be found, at least if we’re interested in seeing blockchain technology gaining overwhelming mainstream adoption.
The most popular alternative to PoW, used by most alternative cryptocurrency systems, is called Proof-of-Stake, or PoS. PoS is highly promising in the sense that it doesn’t require blockchain nodes to perform arduous, and otherwise useless, cryptographic tasks in order to render potential attacks costly and infeasible. Hence, this algorithm cuts the power requirements of PoS blockchains down to sane and manageable amounts, allowing them to be more scalable without guzzling up the planet's energy reserves.
As the name suggests, instead of requiring proof of cryptographic work, PoS requires blockchain nodes to proof stake in the currency itself. This means that in order for a blockchain node to be eligible for a verification reward, the node has to hold a certain amount of currency in the wallet associated with it. This way, in order to execute an attack, a malevolent node would have to acquire the majority of the existing coin supply, rendering attacks not only costly but also meaningless, since the attackers would primarily harm themselves.
PoS, as well as PoW, simply cause the blockchain to fork into two alternative versions if for some reason consensus breaks. In fact, most blockchains fork most of the time, only to converge back to a single source of truth a short while afterwards.
By many crypto enthusiasts, this obvious bug is very often regarded as a feature, allowing several versions of the truth to survive and compete for public adoption until a resolution is generated. This sounds nice in theory, but if we want to see blockchain technology seriously disrupt and/or augment the financial sector, this ever lurking possibility of the blockchain splitting into two alternative versions cannot be tolerated.
Furthermore, even the fastest PoS blockchains out there can accomodate a few hundred transactions per second, compare that to Visa’s 56,000 tx/s and the need for an alternative becomes clear as day.
A blockchain securing global stock markets does not have the privilege to fork into two alternative versions and just sit and wait it out until the market (or what’s left of it) declares a winner. What belongs to whom should be engraved in an immutable record, functioning as a single source of truth with no glitches permitted.
After investigating and studying the crypto industry and blockchain technologies for several years, we came to the conclusion that the delegated Byzantine Fault Tolerance alternative (or dBFT) is best suited for such a system. It provides swift transaction verification times, de-incentivises most attack vectors and upholds a single blockchain version with no risk of forks or alternative blockchain records emerging - regardless of how much computing power, or coins an attacker possesses.
The term Byzantine Fault Tolerance (BFT) derives its name from the Byzantine Generals problem in Game Theory and Computer Science, describing the problematic nature of achieving consensus in a distributed system with suboptimal communication between agents which do not necessarily trust each other.
The BFT algorithm arranges the relationship between blockchain nodes in such a way that the network becomes as good as resilient to the Byzantine Generals problem, and allows the system to remain consensus even if some nodes bare malicious intentions or simply malfunction.
To achieve this, Antshare’s version of the delegated BFT (or dBFT) algorithm acknowledges two kinds of players in the blockchain space: professional node operators, called bookkeeping nodes, who run nodes as a source of income, and users who are interested in accessing blockchain advantages. Theoretically, this differentiation does not exist in PoW and most PoS environments, practically, however, most Bitcoin users do not operate miners, which are mostly located in specialized venues run by professionals. At Antshares we understand the importance of this naturally occurring division of labor and use it to provide better security for our blockchain platform.
Accordingly, block verification is achieved through a consensus game held between specialized bookkeeping nodes, which are appointed by ordinary nodes through a form of delegated voting process. In every verification round one of the bookkeeping nodes is pseudo-randomly appointed to broadcast its version of the blockchain to the rest of the network. If ⅔ of the remaining nodes agree with this version, consensus is secured and the blockchain marches on. If less than ⅔ of the network agrees, a different node is appointed to broadcast its version of the truth to the rest of the system, and so forth until consensus is established.
In this way, successful system attacks are almost impossible to execute unless the overwhelming majority of the network is interested in committing financial suicide. Additionally, the system is fork proof, and at every given moment only one version of the truth exists. Without complicated cryptographic puzzles to solve, nodes operate much faster and are able to compete with centralized transaction methods.
https://www.econotimes.com/Blockchain-project-Antshares-explains-reasons-for-choosing-dBFT-over-PoW-and-PoS-659275
 

OnChain

 
It is important to note the technical difference between Onchain and NEO. Onchain is a private VC-backed company with over 40 employees. NEO is a public platform with different community-led groups contributing to this public project. There exists NEO council comprised of the original NEO creators, employees from Onchain, full time NEO council members and there is also the first Western based group called City of Zion.
Onchain, a Shanghai-based blockchain R&D company, first started developing Antshares in February of 2014 which will eventually become the foundation of DNA. Onchain was founded by CEO Da HongFei and CTO Erik Zhang in response to the attention from private companies garnered by the development of Antshares, China’s first public blockchain. In contrast to the weeks-old start-ups launching ICOs that is happening currently in the blockchain world, it took them 22 long months of R&D to even begin providing services to their first customers. Finally, in April 2016, the first whitepaper on consensus protocol from China was born — the dBFT (delegated Byzantine Fault Tolerance) protocol.
2016 was a busy year for Onchain and they really picked up the pace that year. Other than continuing the development of Antshares, brushing shoulders with Fortune 500 companies, Onchain became the first Chinese blockchain company to join Hyperledger — an open source blockchain project started by the Linux Foundation specifically focusing on the development of private and consortium chains for businesses.
In June of 2016, during the first of many future partnerships with Microsoft China, Onchain founded Legal Chain specifically targeting the inadequacies of the digital applications within the legal system. In 2005, (Digital Signature Act) was passed into national law which permitted an effective digital signatures to gain the same legal rights as a real signature.
In company with Microsoft China, they are also aiming to integrate the technology with Microsoft’s face and voice recognition API function to kick start this digital revolution within the legal system. At the same time, a partnership was formed with FaDaDa, a third-party platform for electronic contracts that has processed over 27 million contracts to date, to provide secure evidence storage with DNA. If that’s not enough, they were also voted as KPMG’s top 50 Fintech Company in China and established a relationship with the Japanese Ministry of Economy, Trade and Industry which led to the recent tour to Japan. Finally, at the end of 2016 they announced a partnership with Alibaba to provide attested email service for Ali Cloud with Legal Chain where it provides a proof-of-existence for a blockchain-powered email evidence repository for enterprise-level use.
Fosun Group, China’s largest private conglomerate, have recently invested into Onchain in order to apply DNA across all of its businesses. Currently, Fosun International has a market cap of 102.98 billion dollars on the Hong Kong Stock Exchange and that is only its international branch.
The role of Onchain so far is reminiscent of Ethereum’s EEA in addition to a stronger emphasis of governmental cooperation. Onchain has identified the shortcomings of present laser focus of hype on public platforms such as NEO and Ethereum and addressing that with DNA. DNA envisions a future where a network of assorted, specifically designed blockchains serving private enterprises, consortiums, government and the public communicating with each other forming an interconnected blockchain network.
This is the goal of DNA — infiltrating every little inefficient niche that had no better alternatives before the invention of blockchain. What is especially critical to remember during this explosive time of hype driven partly by the obscene degree of greed is that not every little niche that blockchain can fill will be holding its own little ICO. Some of those efficiencies gained will simply be consumed by companies privately or by public systems such as the legal system.
 
https://hackernoon.com/neo-onchain-and-its-ultimate-plan-dna-4c33e9b6bfaa
http://www.onchain.com/
https://github.com/DNAProject/DNA
https://siliconangle.com/blog/2016/10/20/onchain-partners-with-alibaba-for-blockchain-powered-email-evidence-repository/
https://www.reuters.com/article/us-fosun-blockchain/chinas-fosun-invests-in-local-version-of-bitcoin-tech-blockchain-idUSKCN1B30KM
 

Traveling

 
August 8th to August 12th
From August 8th to August 12th, 2017, the NEO core team, led by founder & CEO Da Hongfei will travel to Japan to explore the forefront of Japan's Blockchain innovation. This trip represents the first in a series of trips around the world with the goal to foster international cooperation's and to keep up with the fast pace in Blockchain innovation. Starting in Japan, the NEO core team will visit famous local Blockchain research institutions and active communities to engage in bilateral communication. NEO will meet with Japanese tech-celebrities to gain insights about the latest developments in the Japanese Blockchain and digital currency community. Additionally, Japanese local tech media will conduct an interview allowing NEO to present its development status and its latest technological innovations.
 
https://www.reddit.com/NEO/comments/6ry4s9/japan_the_neo_core_team_starts_out_on_an/
https://www.youtube.com/watch?v=SgTQ32CkxlU
https://www.reddit.com/NEO/comments/6ssfx1/neo_meetup_in_tokyo_august_10th_2017_2100h/
 
19th August, 2017
Blockchain X Series - NEO example applications
 
20th August, 2017
NEO and Microsoft Azure host a blockchain programming training in Shanghai
 
23rd August, 2017
INNOxNEO Blockchain Open Nights: 2nd Meeting
 
24th August, 2017
NEO Meetup in Taipei
 
13th September, 2017
INNOxNEO Blockchain Open Nights: 3rd Meeting
 
14th September, 2017
NEO Shanghai Meetup with NEO team
 
24th September, 2017
NEO Blockchain Programming Day - Hangzhou Station
 
27th September, 2017
INNOxNEO Blockchain Open Nights: 4th Meeting
 
27th September, 2017
First London NEO Developer Meetup!
 
4th October, 2017
First San Francisco NEO Developer Social!
 
14th-16th October, 2017
GNOME.Asia Summit 2017, Chongqing, China
 
21st October, 2017
NEO JOY, Exploring Blockchain application, Nanjing, China
 
26th October, 2017
Inaugural Global Fintech & Blockchain China Summit 2017
 
28th October, 2017
NEO meetup in Seoul, Korea:
 
28th October, 2017
NEO Blockchain Programming Day - Beijing Railway Station:
 
November 12th, 2017
NEO JOY in Hangzhou: Considerations on Basic Service Facilities in Blockchains:
 
November 18th - 19th, 2017
NEO attending China open source conference 2017:
 
November 21st, 2017
NEO attending swissnex China in Shanghai:
 
November 27th, 2017
ONCHAIN meetup NYC, Onchain's Blockchain Project Launch + NEO Ecosystem Sharing Session
 
November 27th, 2017
China&USA NEO blockchain meetup in Manhattan NYC
 
November 30th, 2017
Meetup San Francisco: The Future Of Blockchain With The Founders of NEO, Elastos, & Stellar
 
December 4th, 2017
NEO attending Blockchain World Conference in Bangkok:
 
December 7th, 2017
NEO meetup Singapore:
 
December 13th, 2017
NEO meetup at Cambridge:
 

Networks proves itself with the first ICO

 
ICOs, on other platforms such as Ethereum, often resulted in a sluggish network and transaction delays. While NEO’s dBFT consensus algorithm is designed to achieve consensus with higher efficency and greater network throughputt, no amount of theoretical calculations can simulate the reality of real-life conditions.
 

Key Observations

 
Smart Contract Invocations:
A total of 13,966 smart contracts invocations were executed on the NEO network over this time period, of which, nearly all called the RPX smart contract method mintTokens. A total of 543,348,500 RPX tokens were successfully minted and transferred to user accounts, totalling 10,097 smart contract executions.
 
Refunded Invocations:
A total of 4182 refund events were triggered by the smart contract method mintTokens. (Note: RPX has stated that these refunds will be processed within the next two weeks.)
 
Crowdsale Statistics:
A successful mintTokens execution used around 1043 VM operations, while an execution that resulted in a refund used 809 VM operations. Within the hour and six minutes that the token sale was active, a total of 12,296,409 VM operations were executed. A total of 9,575 unique addresses participated in the RPX ICO. Half of these, approximately 4,800 unique addresses, participated through CoZ’s Neon wallet. The top 3 blocks with the most transactions were block 1445025 (3,242 transactions), block 1444902 (2,951 transactions), and block 1444903 (1609 transactions).
 
Conclusion on Network Performance
At the moment, the consensus nodes for the NEO network are operated by the NEO Council in China. By Q1 2018, NEO Council aims to control less than two-thirds of the consensus nodes.
We are pleased to note that the NEO network continuted to operate efficiently with minimal network impact, even under extreme network events. Block generation time initially slowed down to 3 minutes to process the largest block, but quickly recovered to approximately 25 seconds. Throughout the entire RPX ICO, consensus nodes were able to achieve consensus and propagate new block transactions to the rest of the network. In closing, while we consider this performance to be excellent, NEO Council and City of Zion areworking closely together on upgrades, that will increase the throughputs of the NEO network.
 

Hyperledger

 
Members and governance of Hyperledger:
Early members of the initiative included blockchain ISVs, (Blockchain, ConsenSys, Digital Asset, R3, Onchain), well-known technology platform companies (Cisco, Fujitsu, Hitachi, IBM, Intel, NEC, NTT DATA, Red Hat, VMware), financial services firms (ABN AMRO, ANZ Bank, BNY Mellon, CLS Group, CME Group, the Depository Trust & Clearing Corporation (DTCC), Deutsche Börse Group, J.P. Morgan, State Street, SWIFT, Wells Fargo), Business Software companies like SAP, Systems integrators and others such as: (Accenture, Calastone, Credits, Guardtime, IntellectEU, Nxt Foundation, Symbiont).
The governing board of the Hyperledger Project consists of twenty members chaired by Blythe Masters, (CEO of Digital Asset), and a twelve-member Technical Steering Committee chaired by Christopher Ferris, CTO of Open Technology at IBM.
http://www.8btc.com/onchain-hyperledger
https://en.wikipedia.org/wiki/Hyperledger
 
“As a leading open-source contributor in China’s blockchain community, Onchain shares the same values as the Linux Foundation and the Hyperledger project intrinsically. We believe international collaboration plus local experience are key to the adoption of distributed ledger technology in China; we are also very excited to see other Chinese blockchain startups join Hyperledger and look forward to adding our combined expertise to the project.” Da Hongfei, Founder and CEO of Onchain
https://hyperledger.org/testimonials/onchain
 

Important Articles

 
Response to baseless FUD
https://medium.com/@MalcolmLerideresponse-to-baseless-fud-9b7e5e2eeeea
 
Distribution technology DNA framework went through the national block chain standard test On May 16th, the first China block chain development competition in Hangzhou announced that Onchain, became the first through the national standard test block system.
http://www.51cto.com/art/201705/539824.htm?mobile
 
Da Hongfei and OnChain working relationship with Chinese Government
https://finance.sina.cn/2017-04-13/detail-ifyeifqx5554606.d.html?from=wap
http://www.gz.chinanews.com/content/2017/05-28/73545.shtml
 
The Chinese government is reportedly preparing to allow the resumption of cryptocurrency trading in the country in the coming months, with the required anti-money laundering (AML) systems and licensing programs in place.
https://coingeek.com/cryptocurrency-trading-poised-to-make-a-return-in-china-report/
 
Japanese Ministry of Economy, Trade and Industry - Working with OnChain and NEO
http://www.8btc.com/onchain-ribenjingjichanyesheng
 
Notice NEO will be invited to attend the INNO x Austrade China-Australia chain high-end exchange
AUSTRADE - The Australian Trade and Investment Commission is the official government, education and investment promotion agency of the Australian Government
https://mp.weixin.qq.com/s/LmXnW7MtzOX_fqIo7diU9A
 
Source for NEO/OnChain Microsoft Cooperation:
http://www.8btc.com/onchain-microsoft
 

Da Hongfei quotes

 
"There is no direct cooperation between Alibaba and NEO/Onchain, other than their mailbox service is using Law Chain to provide attested email service. In terms of Microsoft, yes we have cooperation with Microsoft China because NEO is built with C# and .NET Core, and NeoContract is the first in the world to support writing smart contract with C#"
https://www.reddit.com/NEO/comments/6puffo/we_are_da_hongfei_and_erik_zhang_founders_of_neo/dksm5ga/
 
"We have pretty good communication with government, with regulators. They don't have any negative impression with NEO and they like our technology and the way we deal with things. Regulation is not an issue for us"
https://www.youtube.com/watch?v=qpUdTIQdjVE&feature=youtu.be&t=1m16s
 
“Before they started cleaning up the market, I was asked for information and suggestions” “I do not expect the government to call me in the short-term and say, ‘Let’s use NEO as the blockchain technology infrastructure of China.’ But in the medium term? Why not? I think it’s possible.”
https://medium.com/@TheCoinEconomy/neo-founder-da-hongfei-advised-china-on-ico-exchange-ban-says-govt-4631b9f7971
 

Upcoming Roadmap

 
Decentralization of consensus nodes
▪ P2P Network optimization – Network optimizations to ensure fast block generation after decentralization.
▪ Voting Algorithm Optimization – Adjustments in voting algorithm to prevent identified attack vectors.
▪ Candidate List Website – Published list of candidates so that voters know who they are voting for.
▪ NEO Council Consensus Node < 2/3 – NEO Council shall operate less than two thirds of consensus nodes by the end of quarter 1, 2018.
 
Our original plan was to start decentralize in Q1 2018. We are however growing faster than expected and cannot accept the risk with being as centralized as we currently are. The conclusion is that we re-prioritize and start the process of decentralizing today. We believe that NEO community groups and exchanges will be suitable to run consensus nodes; community groups already know the technology, and exchanges are already running full nodes with high uptime and monitoring. We welcome interested parties to reach out to us on [email protected]. A NEP to encourage voting will be presented in the coming weeks.
https://neo.org/blog/Details/3016
 
Universal Data Format for Wallet/Node Prog.
▪ NEP2 – Private Key Encryption/Decryption (2017Q4) - Method for encrypting and encoding a passphrase-protected private key.
▪ NEP3 – Universal Data Format (2017Q4) – Standard data format to allow easier wallet and node programming.
https://neo.org/en-us/blog/details/65
 
Promotion/Ecosystem
▪ Globally Legal Token-raising Framework (2017Q4) – Following government interest to regulate ICO’s, NEO will complete a framework to raise tokens legally in all major markets by the end of 2017.
▪ NEO DevCon 1 (2017Q4) – First NEO Development Conference! More details at later date.
▪ CoZ Funding (2017Q4) – Continuous funding plan for CoZ covering next 5 years.
▪ Seed Projects (2017Q4) – First seed projects to be cross-invested with the dedicated NEO pool.
https://neo.org/en-us/blog/details/65
 

NEO Github

https://github.com/neo-project
 
NEO Smart Economy https://github.com/neo-project/neo
1.2k Stars
383 Forks
327 commits
17 contributors
 
neo-gui https://github.com/neo-project/neo-gui
 
examples-csharp https://github.com/neo-project/examples-csharp
 
proposals https://github.com/neo-project/proposals
 
 

CityOfZion Github

https://github.com/CityOfZion
 
awesome-neo https://github.com/CityOfZion/awesome-neo
A curated list of awesome NEO libraries, applications and resources.
14 contributors
 
neon-wallet https://github.com/CityOfZion/neon-wallet
380 Stars
118 Forks
392 commits
29 contributors
 

DNAProject Github

https://github.com/DNAProject/DNA
 
NEO/GAS Donations welcome: ASdNxSa3E8bsxCE9KFKBMm3NA43sYJU9qZ
submitted by NEOcryptotrader to CryptoCurrency [link] [comments]

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Researchers discover a new way for criminals to use Bitcoin and to perform money laundering as we are about to find out in our latest bitcoin scam news.. The criminals could use “exclusive mining” to pass off their money laundering as BTC mining income and as the researchers discover, it could be used to launder Bitcoin. Read more about $1.2 Billion Laundered Through Bitcoin Tumblers And Altcoins Read more now. According to recent media reports Deutsche Bank has been linked to large-scale, criminal money laundering through the so-called FinCEN files. The files, which are reports of suspicious activity ... Instances Where Bitcoin Was Used in Money Laundering. A 21-year-old bitcoin trader from California is being prosecuted for allegedly committing numerous counts of illegal money transmission and money laundering. According to a statement from the Department of Justice in the Southern District of California, Jacob Burrell Campos was arranged to be held without bail at a hearing on Friday in ... Listen to Article JANUARY 16, 2020 / 16:22 UTC LONDON (Fintech Zoom) – Bitcoin Money Laundering – This article is an excerpt from the Chainalysis 2020 Crypto Crime Report Once a criminal has a pile of illicitly-gained cryptocurrency (Bitcoin scams) sitting in a wallet, the next question they have to answer is, “How am I going to turn this into cash without getting arrested?”

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Woman arrested for laundering money to ISIS through Bitcoin

**On today's episode of The Cryptoverse:** We’ll check in on the progress to Segwit lock in. And the MtGox case has been cracked wide open thanks to new repo... The worlds biggest banks do not need to be broken up, but they do need stricter governance and oversight to prevent tax evasion and money laundering, said Stephen Platt, author of 'Criminal ... How are criminals using bitcoin to launder money? How is money laundering with bitcoin different from traditional money laundering methods? Following criminal cash from the streets of London to the gold markets of Dubai, BBC Panorama and the French media company Premieres Lignes reveal how an int... The digital currency Bitcoin has been making headlines this week after a huge increase in value, but ministers are to introduce tighter regulations on the vi...

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