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[WRITEUP] Criticism of r/privacy and r/privacytoolsio moderation censorship and how Apple/Brave/Chrome/GrapheneOS cult armies are destroying privacy communities

Hello! I wanted to discuss this on the soon-to-come occasion of 400 subscribers (398 as I write this), but I guess I will do it now, since the time is just right. This is a long post, so embrace yourself. This is an untalked topic, and you will rarely, if ever, find a record or post about the same.
Censorship in privacy communities is ironic, especially when the communities stand as the biggest ones on reddit. A lot of voices either go silent by account deletion and reappearing as new usernames, or they never speak up since they have been effectively "banned" so have no representation. A lot of this can be easily credited to folks breaking rules, which moderation would claim is certainly a need to manage large public forums. However, there is a section of people who criticise the Apple/Brave/Chrome/GrapheneOS cult armies, and this is where the problem starts to rise.

THE FOUR CULT ANTI-PRIVACY ARMIES

APPLE

Apple cult armies are in denial of Apple devices being privacy nightmares due to being closed source blackboxes. These are good for no more than protecting your data from your nosy girlfriend or the neighbour computer whiz kid.
There is plenty of evidence that goes to prove why Apple devices are nightmares for privacy. This is a comprehensive list of links, images and articles for read:
https://gist.github.com/iosecure/357e724811fe04167332ef54e736670d
https://i.imgur.com/n8Bk0bA.jpg
Siri still recording conversations 9 months later despite Apple's promise to not do it: https://www.theregister.co.uk/2020/05/20/apple_siri_transcriptions/
Apple Mail vulnerability, and Apple's denial of acceptance of the flaw: https://9to5mac.com/2020/04/27/iphone-mail-vulnerabilities-2/
Apple sells certificates to third-party developers that allow them to track users: https://www.theatlantic.com/technology/archive/2019/01/apples-hypocritical-defense-data-privacy/581680/
Apple themselves were one of the main partners buying data from Facebook: https://www.nytimes.com/interactive/2018/06/03/technology/facebook-device-partners-users-friends-data.html
The San Ferdandino shooter thing was completely fraudulent: https://www.aclu.org/blog/privacy-technology/internet-privacy/one-fbis-major-claims-iphone-case-fraudulent
Louis Rossmann dismantles Apple's PR stunt "repair program": https://invidio.us/watch?v=rwgpTDluufY

Brave

Brave Browser is funded by DoD: https://np.reddit.com/privatelife/comments/fe34ls/exclusive_brave_browser_funded_by_dod_contracto
Brave traffic detected with Cryptocompare despite BAT rewards disabled: https://removeddit.com/privacytoolsIO/comments/gr8nue/
Brave also has a known history of whitelisting Facebook and Twitter trackers, and has a crippled adblocker that does not work on Brave's "acceptable" advertisements.
NEW EVIDENCE (June 6, 2020): Brave Browser hardcoded their crypto partner Binance referral links (https://twitter.com/cryptonator1337/status/1269201480105578496) alongwith Ledger and soon-to-be-compromised Coinbase (https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs)

Chrome

These people are partly joint with the GrapheneOS cult, primarily due to its lead developer orchestrating all these things in hindsight and his followers purposely sharing his opinion garbage as "facts".
Most of this was debunked by u/saintjohnny (no longer on reddit) here: https://removeddit.com/firefox/comments/gokcis/
Ridiculous things like lead developer accusing firefox of being a "deployed" army against him and 4chan being used to harm his image: https://i.postimg.cc/3RwLT8Nj/Screenshot-from-2020-05-26-23-10-20.png

GrapheneOS

The moderator u trai_dep has taken his time to censor me off completely, so that none of my criticisms can be ever read about his dictatorial moderation and the GrapheneOS discussion I had with its lead developer, who at the end gave me plenty evidence about his rudeness, ironically which was against the rules of the subreddit.
https://removeddit.com/privacytoolsIO/comments/gs4uv7/_/fs2ysdm/
Criticism of GrapheneOS lies on one of his comments about OnePlus and Xiaomi apparently not making good enough devices: https://np.reddit.com/privacytoolsIO/comments/gs4uv7/i_dont_fully_trust_grapheneos/fs82fdv/
There is also the issue that he always claims Google Pixel 3/3a is a must with Titan M chip running non verifiable code that one has to rely on for Google's claim of being same as open sourced code, and that it does not have spyware. And he maintains his stand about developing the ROM exclusively for the Pixel devices, which also house Pixel Visual Core, a proprietary Google-only CPU+GPU unit independent of the Snapdragon SoC and with negligible documentation claimed "only" to be used for HDR+ camera algorithm processing. Google has had a history of lying with things like the Location History toggle, or their known data collection business and known relationship with NSA.

EVIDENCE RECORD

I have managed to collect and create what is an evidence record establishing the fact that select moderators either have some kind of agenda or are destroying the privacy community as a whole on the internet itself.
The below large part is a direct copy of the "Criticism of..." section in my Threat Model writeup in the sidebar.

OTHER ISSUES, CRITICISM OF MODERATION OF R_PRIVACY

Telling me that I am a burden to the subreddit is outright super offensive, in my most humble opinion. Moreover, they have a strong opinionated bias towards Apple (here too), however no reason to complain for their opinions if they talk outside /privacy and /privacytoolsIO where they moderate. Take the mod hat off if you want. To their credit, one of them did confirm they have a light threat model and primary goal is to thwart mass surveillance, around Level 3 in my book.
You will always be criticised for complaining about US and rationally judging Chinese technology, and effectively repeatedly banned by American moderators and muted from modmail everytime you complain about people personally name calling you "Chinese intelligence proponent" or "Chinese/Huawei plant" or "idiot".
I cannot make text posts anymore in that subreddit as of 11/02/2020.
Lots of evidence events happened followed after my smartphone guide linked above: https://imgur.com/a/TqOkQk6
In atomicratsen image, you can see proof of them allowing Sinophobic propaganda in the name of arguments, followed by the last image. So that is another thing allowed here.
Below comment is the admission of being lazy, incompetent and calling actual gilded contributor users "burden": https://np.reddit.com/privacy/comments/enoui9/5_reasons_not_to_use_whatsapp/fe6qgd7/ Just in case comment goes poof, screenshot.
Moreover, one of them made it clear in modmail that Sinophobic propaganda are "arguments" and will go uncriticised, likely patriotism owing to a global subreddit's moderation which seems unfair and caters not to all but to favouritism to a larger US/West EU audience on reddit, as said earlier:
The thing is, making an argument that China is shady is that: an argument. I mean, geez: Hong Kong. Enough said. So long as they're being civil about it, it's actually what this Sub is for.
Do you mention anything related to China or their products in your post? If so, it's fair game, and we expect everyone to conduct themselves like rational adults.
I'll check out the reports, but if they're conducting themselves along the lines of our sidebar rules, I (obviously) won't be taking any action. But I also hope that you don't get drawn into arguments that might end up earning yourself a time-out. We're somewhat patient, but at the same time, we can't spend too many man-hours tending a particular subscriber too much. Our time is volunteered and there are 600K+ subscribers. It's not fair to them.
Is this all fair to me, a cooperating member? If moderation and volunteering time is such a great issue, it would be a good step to take a backseat and discuss this in a rational non-prejudiced and less authoritarian manner. Why not allow others to take part and aid in moderating that subreddit?
They have repeatedly banned me for nonsensical reasons, standing on last warning, and will likely do so after this post (once for claiming this comment means I called the user asshat instead of their comment, when it never violated /privacy 's rule 5, and another comment where I said to use Win 7/8.1 instead of Win 10, mods claimed it as gatekeeping and banned me for 14 days because I am criticising some things they truly love).
New evidence as of few days ago (Feb 11, 2020): https://i.imgur.com/vOyaidS.png

NEW EVIDENCE

(May 31, 2020)

https://np.reddit.com/privacytoolsIO/comments/gtd3pl/fsb0m7f/ Use removeddit or snew.github.io in case the moderator deletes my comments. The modmail message thread (https://i.imgur.com/JwYaGJU.jpg) and my now shadowbanned comment (https://i.imgur.com/uUrMqyk.png).

NEW EVIDENCE

(June 10, 2020)

The moderator trai_dep now wants a sitewide ban on me for what is informing a reddit user of legitimate logical criticism of GrapheneOS. He calls this harassment, as he has done this multiple times with me in the past (unfortunately for which comments are deleted and evidence not being able to be recorded). However, this is taking it too far. https://i.imgur.com/dX73ZNX.png

NEW EVIDENCE

(June 15, 2020)

trai_dep revengefully deletes my famous gilded smartphone hardening no root guide with 1400+ votes. Modmail proofs post with timestamps: https://old.reddit.com/privatelife/comments/h8hsdh/exclusive_rprivacy_moderator_deleted_smartphone/

SELF TAKE ON THE MATTER

This happened with me on privacy, which is a major why I started this community. There must exist a place free of prejudiced bias and free of any forms of bigotry for privacy, truth and freedom loving folks. The fact that the moderators can get away with it by saying nice words after the ban reeks of a dictator that loves to give speech about care of its citizens, yet will slice anyone up. trai_dep and his friends continue to support the bigotry and these cult armies, which is likely because they do not understand nearly any higher order of technical aspect of privacy threat modelling, and have got no education on the same.

CONCLUSION

Privacy communities on reddit are a huge problem when it comes to dealing with the cult brigading, and instead critics are targeted by the cult armies which are let loose in these very communities. privacy and /privacytoolsIO are not true representatives of communities giving good advice for higher privacy and security, unfortunately ruined both by the moderators (many of whom are iPhone users themselves just like trai_dep) and the cult brigade armies.
submitted by TheAnonymouseJoker to privatelife [link] [comments]

How to trade Bitcoin Future

How to trade Bitcoin Future


https://preview.redd.it/zel9pxcl8df51.jpg?width=1200&format=pjpg&auto=webp&s=21c74d0ccc5556ea744088a283c44819fba59aef



Bitcoin is troublesome to use.
But bitcoin’s isue may build it additional valuable.
So, what’ reality regarding bitcoin’s future?
Bitcoin mining may be a senseless waste of energy.
As bitcoin hits mainstream media, the subject of bitcoin mining
bubble regarding to pop.For ten years, the media has enjoyed painting bitcoin as a bubble concerning to pop. They’ve gleefully pronounced the bubble popped and bitcoin dead … over 350 times. However the reality regarding bitcoin is that it keeps coming back back. Why?

Charlie Munger called bitcoin “worthless artificial gold.” Others in the media have likened bitcoin to a bubble, a “tulip mania,” and different strong statements
Each time bitcoin improves itself (like with Segwit
Segregated Witnesses. A protocol implemented by Bitcoin to extend transaction speed. SegWit allows a lot of transactions to be written into a single block on a blockchain.

or the Lightning Network), or will increase in value, the media is keen and ready to jump on it, decrying and denouncing it.
Therefore what’s the reality behind bitcoin’s price -- is it extremely a bubble?
The reality regarding bitcoin is straightforward; it's experiencing the same rise and fall cycles as each new technology and asset catego
The web also experienced a bubble. Shares of dotcom firms rose by a thousandpercent on a daily basis. Then it all tumbled down. However we have a tendency to’re still using the web, aren’t we have a tendency to? More than ever, in fact.

Stocks conjointly experienced big boom and bust cycles, especially in their early days.

We might feel like stocks have been around forever -- and to us they need. However stocks conjointly had a starting, and a rough one too. Once upon a time in 1531, when the first stocks were invented, they saw extraordinary volatility, scams, and no regulation. In fact, before stock exchanges, they were sold at occasional shops -- just like cryptocurrencies were sold on la peer to peer

marketplace, before exchanges came online.
Even property, viewed by the majority as “the safest investment” experienced a dramatic cycle. Business Insider reported that “Between 2006 and 2014, nearly ten million homeowners in America saw the foreclosure sale of their own homes.” And tens of thousands became homeless as a result of of it. Nevertheless --- we have a tendency to’re still living in homes, aren’t we?

The future of bitcoin would possibly be the identical as that of stocks, bonds, assets, and the web. It rises and falls like all the others, and it is currently terribly volatile -- but that’s as a result of it’s young.

Stocks have been around for 400 years. Dotcom corporations for forty years. Bitcoin is solely 10 years previous -- and cryptocurrencies, normally, are even younger. But slowly, they will become a part of our daily lives.

Rich investors are manipulating costs!
Look at this headline from the Independent: “Bitcoin price Crash: 'Manipulative Whales

Whale
A very wealthy individual capable of creating massive trades.
View full glossary
' cause Cryptocurrency Market Meltdown!”
It’s sensationalism, pure and straightforward. The article goes on to rant against these therefore-known as “whales” -- individuals who own voluminous dollars of BTC -- as evil-doers who’s solely thought is profit.

This type of sensationalism is meant to harm Bitcoin’s future; to scare people faraway from doing research and thinking for themselves.

Nonetheless, this statement is somewhat true. Up to eighty five% of Bitcoin’s supply is solely owned by onepercent of wallet addresses.




But there’s an important point to be made about these numbers. Most of the prime percentage of wallets is not owned by whales -- but by exchanges

Exchange
On-line platforms on which people can buy and sell cryptocurrencies.
View full glossary
.
However their result is getting smaller and smaller.
A company referred to as Chainalysis -- that makes a speciality of analyzing the Bitcoin blockchain

-- found that “the actual threat that all whales pose to the cryptocurrency economy is relatively low. If they sold off their entire holdings, it'd be effectively a $3.9 billion sale at current costs. That’s not even tenpercent of this total market capitalization of Bitcoin.”
This is as a result of, as I hinted above, several of those wallets holding such vast sums are the ‘cold wallets

’ (wallets held offline) belonging to major exchanges like Coinbase, Kraken, Binance, and more. These wallets cannot be used to manipulate the price, diminishing the potential impact of enormous ‘whales’ selling their positions.
Bitcoin is simply too slow for use as a currency.
The reality regarding Bitcoin is that yes, it's slower than VISA, Mastercard, and alternative centralized electronic payment systems.

Paying together with your credit cards takes seconds and the network can handle payments around the globe twenty fouseven. But, though Bitcoin can additionally be used around the world, confirmation

of payment takes an average of 10 minutes; during the bitcoin craze recently 2017, confirmation times might take hours.
Moreover, VISA on average processes around 2,00zero transactions per second (tps). This means the amount of payments individuals make per second on the network. VISA includes a maximum of twenty four,00zero TPS. Bitcoin, by distinction, has a maximum of ten TPS. This argument has been place forward by several critics over the years and picked up by the media as the doom of bitcoin’s future.

However Bitcoin could be a technology that evolves.
Now let’s assume regarding Bitcoin’s past for a moment. The coin and its underlying technology -- the blockchain -- are only ten years previous. When the web was ten years old -- the year was 1989. Do you keep in mind the net in 1989? I sure do.



payments in exchange for not revealing sensitive info. So, in bound ways that, BTC and cryptocurrencies offer hackers a lot of options.
However money continues to be king for every criminality.
Though it’s true that hackers and phishers do typically ask for payment in BTC

There’s an aphorism: “money talks.” It means that that if you would like to get something done -- the best argument you can build is to place down a stack of money. When Bitcoin rose to fame, the primary headlines focused around Bitcoin being the prime choice for criminality.

But Lilita Infante, Special Agent for the DEA (Drug Enforcement Administration) has some contradictory info regarding this. She was one among a ten-person Cyber Investigative Task Force team whose primary aim was the dark web and crypto-related investigations. This cluster is no little force. They collaborate with the Department of Justice, FBI, and also the Bureau of Alcohol, Tobacco, Firearms and Explosives. And she went on the record to talk regarding what share of bitcoin transactions are literally being employed for illegal things; she said that “illegal activity has shrunk to about 10 p.c.”

Only tenp.c of all the transactions on the Bitcoin network could be used for illegal things. Which number is falling.

The fall in Bitcoin’s use among criminals is due to several factors. The most prominent factor is that Bitcoin is no longer anonymous. Sciencemag wrote a full report on how governments are developing and using techniques to explore the Bitcoin blockchain and notice criminals by tracing their bitcoin payments.

Paying with bitcoin isn’t simple.
I’ve heard this argument flow into widely throughout the years. I still hear it from my grandpa each vacation dinner. He didn’t see a Bitcoin checkout option at the grocery when he bought the turkey -- therefore it’ll never be used.



Perhaps Bitcoin is on its means to being such a store of worth. For 10 years now bitcoin has been ready to be saved and retrieved and exchanged -- and it’s worth has only gone up (bumpy but up).

Need to get more cryptocurrencies? Check out our top 5 cryptocurrencies to shop for, whether you’re a beginner or an experienced investor!

Bitcoin is difficult to use.
Bitcoin, like all new technologies, isn't the most user-friendly.

You would like to line up a wallet, bear in mind a seed phrase, and several additional steps. Sending and receiving BTC

payments additionally involves steps of copy/pasting long strings of random letters and numbers. It’s powerful, I hear ya.


I additionally keep in mind all the steps I needed to require to send emails back when those were new. Insert a CD from AOL into my computer. Install AOL. Unplug my phone line. Plug in my Modem. Wait for it to make all those noises and finally connect. Then set up my AOL email and password. It was quite the method.

My grandfather never thought emails would come out and even my mother said folks would perpetually like handwriting letters (and using a physical dictionary for spell check!) and sending through the post.


Think about it the approach we tend to assume about gold. Not everyone has gold. It’s also a bit difficult to own.

If you wish to own gold for its ‘store of price’ properties, you wish to seek out a specialized look to buy investment gold. You need to store it somewhere, sort of a personal safe or a bank vault, and bear in mind the password. This is somewhat troublesome.

https://preview.redd.it/k0x3jqsm8df51.jpg?width=770&format=pjpg&auto=webp&s=ff7c2f29881c28fb22c9828c497cc1981eea2919
Perhaps Bitcoin’s problem will facilitate it retain its value, just like gold
You Might Conjointly Like: The 5 est Bitcoin Sports Betting Sites
https://www.cryptoerapro.com/bitcoin-future/
submitted by cryptoerapro to u/cryptoerapro [link] [comments]

ColossusXT Q2 2020 AMA Ends!

Thank you for being a part of the ColossusXT Q2 2020 AMA! Below we will summarize the questions and answers. The team responded to 46 questions! If your question was not included, it may have been answered in a previous question or AMA. The ColossusXT team will do a Reddit AMA at the end of every quarter.
The winner of the AMA contest is: ookhimself
Congratulations. I will send you a DM on Reddit.
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Q: Why does your blockchain exist and what makes it unique?
A: ColossusXT exists to provide an energy-efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation Zerocoin Protocol, and I2P and these will protect users of the Colossus Grid as they utilize the grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video, and audio streams-all will be reborn as services that live in cyberspace, assembling, and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
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Q: What is the Colossus Grid?
A: ColossusXT is an anonymous blockchain through obfuscation, along with utilization of I2P (Armis). These features will protect end-user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end-users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
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Q: Is there any estimated date for the grid? What will set you apart from the opposition?
A: We are hoping to have something released for the community in Q4 this year. The difference between other competitors is that ColossusXT is putting consumer privacy first and we’re actively in the process of working with federal and state agencies in the United States.
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Q: How do you plan to get people to implement the technology? At your current rate of development, when do you foresee a minimum viable product being available?
A: We have been strategically networking with businesses, and we are currently undergoing the verification process in the United States to make bids on federal and state projects. We are working on an MVP and our goal is to have at least a portion of the Colossus Grid ready by Q4 2020.
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Q: When we can expect any use-case for COLX? A company or service that uses COLX for its activities/tasks.
A: We’re aiming for Q4 of this year to have an MVP, throughout 2021 we will be strategically making bids on federal and state contracts in the United States with a goal to expand operations exponentially.
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Q: Are there any plans to be listed on the more prominent exchanges e.g binance, kraken?
A: Yes, we have applied to some of these exchanges that are considered Tier 1 or Tier 2 exchanges. Many of them upfront will tell you there are no fees associated with the listing, that is not entirely true most of the time. Regardless, have applied and are awaiting more responses as we move forward. Listing on these exchanges often requires that we cannot announce this information until ColossusXT is live on its platform.
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Q: Partnerships are the norm these days in crypto world. Which partnership would you consider feasible, if any, in order to grow the Colossus Grid project?
A: The Colossus Grid is a huge undertaking both in development and business partnerships. We are moving in both these directions strategically. One of the most important partnerships is not really a partnership but approval to bid on state and federal contracts. Working with the governments around the world will be a big part of the Colossus Grid use-case.
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Q: If the ability to annonymise coins is turned off, can CLX still be marketed as a privacy coin? Do we have a date we can start using this feature again?
A: Yes and No. It’s frustrating right now having a lack of privacy for consumers as we don’t see privacy as a feature but a right. EVERY platform online should have some levels of privacy for their consumers, especially as technology continues to evolve and bad actors continue to use your personal information for their own nefarious purposes. Obfuscation will be implemented in the coming weeks, and Armis will follow suit shortly thereafter.
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Q: When can we expect the grid to come out?
A: We are looking at releasing an MVP towards the end of the year. Stay tuned during Q3 and Q4 as we ramp on technical and business developments.
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Q: Can you tell the current budget for development work?
A: Much of the development work budget comes from Core team member's disposable income, we also use the self-funding treasury that Masternode owners vote on each month.
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Q: Will cold staking be implemented somedays? I like the model of Cardano. Hope you will implement kind of Cardano staking in our wallet. I would love the easiness.
A: ColossusXT staking has been enabled since 2017. We have calculators on the website that will estimate your average staking returns and you can join numerous pools to increase your staking power within the pools. Cold staking is on our radar and will make it into the roadmap when our budget allows us.
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Q: Which part of grid technology are you planning first to go live? Storage/RAM/CPU/GPU/all at once? Separately?
A: We will be rolling the Colossus Grid out in two phases. The first phase will be storage, and then we will roll out computing power (RAM/CPU/GPU).
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Q: Is Armis I2P technology in development testphase I mean, I have read something like that… If Armis goes live, will there be some kind of option in deskopt wallet to transfer anonymous or will every transaction be fully anonymous like e.g. monero?
A: We recently had a testing phase with the community earlier this year, there will be another test phase with community participants who sign up. If you’re interested in this stay tuned on our socials and apply when the next testing phase happens All transactions will be fully anonymous behind Armis.
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Q: What programming languate is being used for developing COLX? How well this programming language do you think is more suitable for developing crypto, in comparison with other programing languages?
A: C++ is what we’re using at ColossusXT. Each crypto project is different but with what we're developing at ColossusXT. We are best suited to utilize C++.
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Q: What is the second biggest milestone other than launching the grid network for the team. What do you think of your competition like Golem network?
A: Armis will be a big milestone, and I don’t think we go back to our Polis partnership which allows users in Europe and Mexico (they do plan to expand to the US and other countries) the ability to spend their ColossusXT (COLX) wherever Mastercard is accepted. I don’t think the Golem network is taking consumer privacy far enough, in the blockchain industry I also see a lack of drive to push adoption within the United States. This is likely due to unclear regulations right now. ColossusXT is at the forefront of these issues and we intend to lead blockchain through these somewhat murky waters.
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Q: I don’t have a lot of knowledge about crypto-technology… but are there any risks of sensitive data-hijacks through Colx infrastructure? Will the Colx-grid be available for individuals or only larger corporations, and how would one get access to the computing power?
A: There are always risks with technology. We are doing extensive testing and more testing prior to releasing anything. Consumer privacy is apart of the foundation of what we’re building at ColossusXT and we want to ensure any and all of your personal information is secure and private. As technology evolves, we will be right here evolving with it to ensure that consumer privacy protections are always in place.
The Colossus Grid will be available to anyone with a computer. You will access it through the desktop wallet.
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Q: Do you have any new exchange listings planned in the near future?
A: Yes, but unfortunately with these things, every day it’s not something we can often say before the exchange makes their own announcements. If you have certain exchanges that you prefer, do not be shy and tag us on Twitter letting us and the exchange know. You can also reach us everyday at all hours of the day and night on Discord and Telegram.
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Q: Given that Colx had no ICO, are we able to ramp development efforts in case we have potential partnership deal on the table?
A: It really depends. We strategically spend every dime we spend on development. We do not like even a single penny to be waisted, so we don’t move as fast as the projects that raised millions of dollars, but we continue moving none the less. Ramping up our development is something we are working on by securing additional funding and we’re currently working on securing funding. 😊
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Q: How is the project development advancing? What are your plans for the next 5 years and what more can we expect from ColossusXT?
A: Our development is continuing on at a steady pace, we’re looking to ramp this up over the next year as the Colossus Grid will take much of our time but we’re excited. Over the next 5 years, you can expect the Colossus Grid to be live in all forms (storage and computing power), Armis will be released and we will share many technical details on how this consumer privacy protection rivals some of the other privacy protections in the blockchain industry. We expect to be verified and approved to work with the agencies in the United States long before then as well and will be aggressively pursuing federal contracts to utilize the computing power of the Colossus Grid. In 5 years, we plan to be a key player not just in the blockchain industry, but throughout the world. If you do not know ColossusXT now, expect to in 5 years or less.
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Q: Users often care less about technology, but rather the value of the token. How do you manage to strike a balance between developing the technology and also improving the value of COLX? There are so many privacy coins now, all of them claiming to have better features that ColossusXT. Moving forward, what do the next 10 years look like for ColossusXT in navigating the wave of privacy projects coming. How can ColossusXT continue to shine in the midst of seemingly legit projects that have come to challenge ColossusXT like mimblewimble projects and Monero, Zcoin, ect.?

A: The Colossus Grid and Masternodes will have a strong relationship with each other. When the Colossus Grid goes live we expect the masternode demand to continue to rise. Masternodes are a great incentive mechanism to increase network strength and will play an important role within the Colossus Grid. The more masternodes online, the less available coins in the circulating supply; which we expect will eventually reflect ColossusXT (COLX) coin value.
Over the next 10 years, ColossusXT (COLX) will solidify itself as a key player in the blockchain industry, and outside the blockchain industry. Following our strategic business plans, we intend to be one of the first, if not the first to truly bring government and other businesses into the blockchain industry through the Colossus Grid. Armis will be our defining privacy feature, which we expect in time will begin to be adopted by other projects. --------------------------------------------------------------------------------------------------------------------------------------------------
Q: How have the number of Masternodes (MNs) increased/decreased over time/in the past few years? What proportion (%) of MNs actively take part in Governance? How do you see the number of MNs increasing/decreasing in the next couple of years? Is there a trend upwards or downwards?
Is there a specific number (or range) of MNs the team would like to attain ideally? Is it better to have as many MNs as possible or is there a point at which too many MNs start to have an adverse effect on the performance of the blockchain?
Hope this wasn’t too many questions in one :), Ahmed

A: The number of masternodes in the active network is more or less the same, fluctuating around 200-220. About 40% - 50% of masternodes participate actively in governance (see https://governance.colossusxt.io). We expect a number of masternodes to grow as they will have additional benefits with Colossus Grid (see business plan: http://bit.ly/COLXBPLive).
As the team had no premines, only the dev fund can be used for masternodes which is hard to maintain due to actual budget flow. It’s better to have as many masternodes as possible for the network, there is no adverse effect.
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Q: Of all the milestones that $COLX has achieved since your humble beginnings, which do you consider to be the best of it all? What achievements do you feel proud most?
A: It’s often not mentioned but I’m very proud of our partnership with PolisPay, which allows ColossusXT community members to purchase Amazon, Spotify, and other gift cards with ColossusXT (COLX) through the Polis platform. You are also able to spend your COLX anywhere Mastercard is accepted, the card is available only for EU citizens right now and the Polis team hopes to bring in other countries in the future.
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Q: There are problems that can slow down the course of a project such as the emergence of globalization, given the tighter budget, shorter implementation time requirements. My question is, How does $COLX resolve the issue?

A: Given the current situations around the world the Colossus Grid has more value than it ever has, and that value will continue to grow once we have released the Colossus Grid for consumers to share and utilize resources. You can already see from the [email protected] initiative that people are eager to share their computing resources to help researchers simulate different COVID19 simulations. We’ve always worked on a very small budget at ColossusXT starting with 0$ in funding and no pre-mine or ICO/IEO. This project was built for the community by the community, and as of lately we’ve actually been ramping up our business strategies and developments. Since we have all already worked remotely before the COVID19 pandemic, it interestingly allowed us more time to focus and achieve these goals as our day jobs allowed us to spend more time on ColossusXT.
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Q: How will you fight with regulators who are trying to stop privacy coins?

A: We have an amazing legal team at ColossusXT, and they are on top of any new law or regulation that comes out. We’re not afraid of regulators and our legal team makes sure that everything we do for ColossusXT is law-abiding. It's time the world stops looking at privacy as a feature and as a right, especially when you read about different applications and platforms using your personal DATA for their benefit. ColossusXT will continue to push this, and we're prepared to lobby this to lawmakers. --------------------------------------------------------------------------------------------------------------------------------------------------
Q: What type of utilities can $COLX give to users over its competitors like GOLM (computation) or STORJ (Data)?

A: The Colossus Grid has some major differences between Golem and Storj. One we’re a privacy-focused project. If you take a look at many of these applications and platforms today, in some way or another you’re giving up personal information, and/or geographic information. ColossusXT is focused on protecting consumer information, we do not look at privacy as a feature, we see privacy as a right, especially in the tech world today.
The second part of this question is that we’re currently in the verification process of registering with the United States federal and state governments so that we can legally bid on federal and state projects and work with different agencies. This will ensure that as the community members are sharing their idle resources, large corporations and businesses are using it. I’m not aware of the mentioned projects being registered in the United States or taking steps to work with the United States government.
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Q: How will computing power and storage sharing look like, for an average user (marketplace, program download)? What are you currently working on, when can we expect MVP? TY
A: The marketplace and Colossus Grid will be inside the ColossusXT desktop wallet that you currently have now. The UI/UX will change some to allow the additional settings and tabs that will become available and we’re preparing an MVP right now and we hope to share those details with you over the next few months, ask us again in the Q3 AMA if you haven’t seen anything yet :)
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Q: What would you say is the $COLX killer feature that sets it apart from the rest of the competition.
A: We believe that Armis is our killer feature. We recently had a beta this year with the community and will be moving forward later this year with Armis. ColossusXT consumers will have their geographic location and IP fully hidden behind the Armis layer for further security and anonymity for the transactions which will also take place in the Colossus Grid resource marketplace in the future.
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Q: I have been a silent follower of $COLX and I must say that I'm truly impressed with how the team has been diligently working on the project. It'd be nice to have the community be part of something like a bounty or a social awareness contest. As this will not only attract more users to the platform but would also strengthen the bond within the community. When can we possibly expect a community project of this level? #spreadthegrid
A: We currently have a Gleam competition ongoing for social awareness, and we just hired a community manager to spread more community awareness and will be rolling on competitions more regularly. Every quarter we have an AMA on Reddit for the community to ask questions, or just gripe at us, and one person each quarter is awarded 100,000 COLX for participating in the AMA. As we deliver our targets and grow, we will shift more funds from development funds to marketing funds to raise further awareness.
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Q: "Our main competitor is crypto adoption. We are all here to make it happen together.", this is quoted from a founder of a known crypto wallet. Do you see competition as something that strengthens the project as a whole or as a possible distraction due to pressure to be at the top of the crypto ecosystem?

A: This is a two scenario situation. Competition is good for ColossusXT, and we look at our main competitor in blockchain as Golem (GNT), having said that though too much competition or sometimes maximalist behavior isn’t good for crypto, many of these projects should be coming together to lobby lawmakers for laws and regulations that are good for the blockchain industry, as this is still an emerging market and the laws and regulations aren’t exactly in place at this time.
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Q: "For people to believe in crypto, they need to understand the tangible benefits it offers to our society.", a remark made by a crypto project in the past. What exactly would be $COLX real life global benefits? And how do you plan on achieving this?
A: ColossusXT vision will be achievable when the Colossus Grid is released. We are currently in the process of registering with state and federal agencies in the United States, once we are registered to work with these agencies we will pursue contracts with the government, cybersecurity firms and colleges all around the United States, and the world to utilize the resources on the Colossus Grid. We’ve already started building business relationships for this very purpose.
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Q: According to you how much time will it take for $COLX to get into mainstream adoption and execute all the plans set for this project?
A: It’s almost impossible to set a timeline on when the world/people will begin to adopt ColossusXT (COLX) and the Colossus Grid. We don’t believe that adoption for ColossusXT will happen before the Colossus Grid is live, and if I gave you an exact timeline for when or how long it will take you for the Colossus Grid to be adopted I would be lying to you, but we are already forming business relationships and making strategic moves to be able to bid, and work with state and federal agencies in the United States.
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Q: Does Tokens.net plan any kind of staking ($COLX or other coins)?
A: We will reach out to the tokens.net team and see if they have any plans to allow staking.
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Q: How will you try to boost adoption of #COLX, how do you think you will motivate programmers to join opensource project?
A: The Colossus Grid will be available for anyone to use, or share their idle resources for other consumers to use. We will be focusing on providing these resources to state and federal governments, cybersecurity firms, and researchers all across the world. Certainly, we expect some community members to use these resources to mine different PoW cryptocurrencies, but the team at ColossusXT will be focused on bringing in large colleges and universities as well as big cybersecurity businesses that may need supercomputing power at 1/10th of the current prices. Our programmers are our only paid team members, and we pay them at a competitive rate. We’re looking to bring in some more programmers later this year.
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Q: Do you have any special development funds for programmers?
A: Sometimes we pay our programmers out of our own pocket, sometimes we pay them in ColossusXT. It really depends on what kind of agreements have been made. We have been aggressively pursuing different funding opportunities throughout 2020 so that we can expand our development team and in the future, we may have incentives to drive programmers into joining our team. Right now we just stick to a competitive pay scale within the industry.
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Q: Why Android Wallet Revision hasn't been done? Any problems?
A: The Android wallet revision took some time to be approved in the Google Playstore, but it has been released and live since June 15, 2020.
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Q: Whats the second biggest milestone other than the grid network for COLX team?
A: Armis is likely to be considered our second biggest milestone this year, although as I mentioned above this can easily be overshadowed by our Polis partnership which allows you to spend ColossusXT (COLX) anywhere Mastercard is accepted. Although the epay debit card ownership is currently restricted to certain countries (EU zone only), these restrictions will lift in time.
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Q: How is COLX team going to contribute to crypto adoption, other than building a robust network?
A: We’re already in the process of verification to work with state and federal agencies. Adoption for blockchain projects isn’t going to move fast. I read a report just a few days ago about how scammers in the crypto industry stole over 2 million dollars worth of crypto just from the “Elon Musk” impersonations on Twitter.
We will continue to build our network, and seek out state and federal agencies as well as private cybersecurity firms that can utilize the Colossus Grid, we’re not just focused on making noise on social media, we intend to make noise throughout the entire world.
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Q: Are their industry partners to COLX that are awaiting your network to go live?
A: Yes, although I hesitate to go into too much detail here. We are talking with business leaders.
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Q: The ongoing crisis affected the market badly, making many projects far from their targets. What is $COLX strategy in order to survive and pass through this crisis?
A: I agree it affected the market badly, especially the projects that raised hundreds of millions of dollars in crypto and held it through the entire market correction. ColossusXT strategy is different from those affected, we’ve always had a smaller budget than these large projects. We spend the money we have available very wisely, and we’re not in a hurry to grab something that sounds good without doing our due diligence. We make our moves very strategically.
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Q: I gotta ask, what made $COLX decide to get listed on Tokens.net? What beneficial advantage does $COLX get in doing so? How about Tokens.net?
A: Tokens.Net is one of the best exchanges ColossusXT is listed at the moment in comparison to others in terms of volume.
  1. Tokens.net is one of the most secure and transparent exchanges out there, registered in the UK.
  2. The team behind the exchange has deep roots in the crypto/blockchain space, it was co-founded by Damian Merlak, a crypto-pioneer and co-founder of Bitstamp.
  3. Tokens.net provides free auto-trading tool / Market Making Bot. Their Dynamic Trading Rights concept adds transparency to trading volumes.
  4. They allow the community voting option of only truly decentralized projects after a thorough screening.
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Q: Hey everyone! What is the main purpose of the coin $COLX, does it have its own chain or is it some sort of an ERC-20 token? Thank you for the answers.
A: ColossusXT has never been an ERC-20 coin. We have been operating on our own mainnet since 2017. The purpose of ColossusXT (COLX) is to be the native currency of the Colossus Grid. This will allow users to share their idle resources on their computers, and consumers will rent/buy those resources to complete whatever they intend to use them for, from processing large DATA to running scientific simulations, to even mining PoW cryptocurrencies.
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Q: When we can expect any usecase for COLX? A company or service that uses colx for its activities / tasks.
A: There are currently use cases now if your location allows you to utilize the Polis Pay app, or if you have a Polis Pay card you can buy things with ColossusXT (COLX). I myself have tested the card buying gas at a gas station. These are not ColossusXT’s primary focus though and much of our use case will not start until the Colossus Grid is live.
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Q: What pairs will colx have to trade with on tokens.net // Will you connect #COLX with USDT EURS or BTC?
A: ColossusXT will be initially paired with Bitcoin (BTC). If the community would like different pairs, they can certainly request them and we will reach out to tokens.net and work to facilitate requests.
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Q: Will you try to convince users to trade on tokens.net if so how will you do it?
A: There is currently a gleam competition for users to sign up and trade on tokens.net. We “shill” tokens.net accordingly through social media to the ColossusXT community, but can’t really convince anyone to use a certain exchange, although we will try to push as many members to tokens.net as we can. We have many masternode holders who reside in the United States and they are not yet allowed to trade on tokens.net.
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Q: How will you try to create liquidity for your pairs?
A: We would like to increase the adoption rate with real-world partnerships such as our partnership with PolisPay for the use of gift/debit cards. As the liquidity is linked with the use cases, supply/demand mechanics, we are also preparing to provide additional use cases of COLX for the crypto world in an innovative & pioneering way; for the time being, we can hint this as a side business till we deliver fully operational Colossus Grid.
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Q: How big is a development team of #COLX?
A: The ColossusXT team is probably bigger than some people realize, partly because many of the team members are very private. We have 9 core members, 2 in-house developers, 3 Colossus Grid architects, and 2 Colossus Grid developers.
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Q: Do you have some security guys in the team?
A: Yes, although I’m hesitant to share too many personal details about team members. We have core team members who have been working in different fields of IT security for several years.
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Q: Since #COLX is planning on having some sort of a marketplace where you can take advantage of computing resources and the blockchain as well, are there any plans on introducing smart contracts? Will it help the grid? Is there a place for it?
A: This has been mentioned a few times in the past so it’s something on our radar, it’s currently not in the development timeline as the Colossus Grid is a massive amount of work. There may be a place for it as the blockchain industry evolves, and I can certainly see some cases where a smart contract can add some value to the Colossus Grid.
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Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
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Follow ColossusXT on:
Twitter
Facebook
Telegram
Discord
Forums
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AMA History:
2018 Q1 2018 Q2 2018 Q3 2018 Q4
2019 Q1 2019 Q2 2019 Q3 2019 Q4
2020 Q1
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

Let's discuss some of the issues with Nano

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly. Similar to TCP/IP, email servers, and http servers. Just like Bitcoin full nodes.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
Obviously there is still a lot of work to be done in some areas, but overall I think Nano is a good place. For people that aren't Nano fans, what are your biggest concerns?
submitted by Qwahzi to CryptoCurrency [link] [comments]

Weekly Update: Parachute Crypto League, new assets on Voyager’s Interest Program, Fantom Lachesis now ABCI compatible, CyberFM + Blockchain Radio... – 1 May - 7 May'20

Weekly Update: Parachute Crypto League, new assets on Voyager’s Interest Program, Fantom Lachesis now ABCI compatible, CyberFM + Blockchain Radio... – 1 May - 7 May'20
Hi everyone, it’s been a difficult few weeks for everyone around the world with a constant barrage of sobering news – from COVID-19 to super cyclonic storms to George Floyd. I hope this update offers some much needed respite. Here’s your week at Parachute + partners (1 May - 7 May'20):

Congratulations to Foo for winning the inaugural Parachute Crypto League (which started last week). New leagues (including ones with $PAR prizes) were added this week. New Parachute league was added as well. How does it work? Click here to find out. Hope you got a chance to partake in the Tiproom giveaway event. Bose hosted a Football-themed trivia in TTR for some sweet $PAR rewards. Noice! Gamerboy’s random quiz for 1k $PAR per question got everyone scratching their heads. Unique and Victor’s trivias were pretty as well. Charlotte changed up the format of standard tiproom quizzes with a new one this week. Cap shared a sneak peek of what’s to come in the next few weeks. New $PAR use-case as well. Plus, latest digestives coming up. The 2FT ongoing theme continued with "videos featuring bands or artists whose name starts with the letters U, V, W, X or Y" this week. Check out all the cool music that got posted from Sebastian’s playlist. Epic gif Peace Love. Haha! Want to get some $PAR for staying in shape during the lockdown? Don’t forget to check out the TTR Pushups Contest. And if you were a fan of Jason’s Financial Fridays in 2gether, stay tuned for next week since it is coming back to Parachute. ParJar is currently at 32k+ users and 1.4M+ tips. Epic!
Jason shared a sneak peek into his computing setup. Pretty cool!
aXpire COO Matthew Markham wrote about the effect of legal billing software on law practice management. The monthly 200k $AXPR burn can be tracked here. 2gether CEO Ramon Ferraz routinely sends out emailers with project updates to all Founders (registered 2gether members). Click here to check out the latest. The crew also compiled a list of 7 books to read in order to learn about cryptocurrencies. Voyager introduced $XRP (Ripple), $EOS, $XLM (Stellar), $OMG (OmiseGO) and $ZRX (0x) to its Interest Program. Read more about it here. They celebrated it with a massive 5k $XRP giveaway along with an interest boost program. CEO Stephen Ehrlich sat down for an interview on Scott Melker’s (The Wolf of All Streets) podcast this week. Stephen was also interviewed by Jason Hartman (host of Creating Wealth Show). Switch released the first set of a 10 part series blog posts this week chronicling the story of the project starting with the beginning, move from Ethershift to Switch, launch of SwitchDex and the various Switch tokens. More to come next week. Fantom submitted a proposal to the MakerDAO community for adding $FTM as a collateral for $DAI. The latest technical update was published as well. The update covers news such as Fantom’s consensus protocol now being compatible to Application BlockChain Interface (ABCI). ABCI allows blockchain "transactions to be processed in any programming language". Saweet! Read more about ABCI compatibility here. The first Uptrennd Halvening ($1UP gets doubly difficult to earn) is expected to happen around the time of bitcoin halvening. Altcoin Buzz talked about it in their latest video. Huge congratulations on crossing 100k members! Uptrennd also announced a Citizenship program aimed at improving the overall quality of posts and comments by offering more giving power to higher ranked members. Jeff also sat down for interviews with Scott Cunningham for BeInCrypto and with Cash Alternative TV this week.
Amazing achievement, Uptrennd!
Following the launch of Pangaea Phase 3 last week, Harmony started an incentivised testnet staking program this week for delegators in partnership with Binance. The April #pow thread (i.e. project updates from April) can be found here. It was also summarised into an article. If you missed last week’s AMA, you can catch up from the transcript. Pangaea Phase 3 testing now has 1k+ validators and delegators. Noice! Part 2 from last week’s smart contract webinar was released. Harmony's Edgar Aroutiounian gave a presentation at Ready Layer One's online conference on BLS Aggregate Signatures. The project joined Indian state Telangana’s Blockchain District Accelerator program T-Block Accelerator as an official platform partner. Cointelegraph covered this news as well. The team also shared the latest updates through a community hangout. IntelliShare founder Raymond Xiong will appear for an AMA with CoinKeeper next week. Elections for the 6th Autonomous Committee started this week. GET Protocol shared their thoughts on how to reopen Dutch museums safely. COTI’s April rewards were distributed. Crypto analysis collective Trade Dog’s in-dept project review was released. Congratulations on getting the highest rating. If you have missed the events of April, the latest newsletter’s got your back. DoYourTip announced a partnership with InFocus Games to have their mascot Tipply as a playable character in the Pathfinders game in the form of an ERC1155 asset. The demo is live already. Have fun gaming! A DYT trading league on Crypto Leagues was started as well.
Harmony’s Pangaea P3 testing turned out to be a success with high participation throughout
Read all about Opacity’s April updates here. District0x’s latest weekly update report can be read here. The latest Hydro blogpost cleared some FAQs about prepaid cards. Community requests for the latest Sentivate update was closed this week. The update includes browser upgrade, devMode toggles etc. The code commits can be tracked on GitHub. Check out how stream and play works here. If you are worried about censorship resistance of the Universal Web, have a read of this tweet thread. Plus, a $BTC giveaway contest was launched by the crew as well. Chief Engagement Officer at OST, Simona Pop, spoke at the first ever Ethereal Virtual Summit this week in addition to speaking at Ready Layer One’s community event (as mentioned in the last update). The SelfKey team explored if there was a causal relationship between developer activity and market cap of a project. The data breach compilation article was updated. The crew will be hosting an AMA next week. The progress report for April was published. Now that Constellation’s Hypergraph Mainnet is live, read all about the current status and what next here. The team sat down for an AMA with KuCoin. The community-built balance-checker lets you look at mainnet wallet balances. The Yazom Mobile app got approved by Google Play. You can register for early access on the website. Blockchain Radio was integrated with CyberFM this week. This means all 17 featured shows and 23 radio hosts of Blockchain Radio will now be available on the CyberFM app.

And with that, we close for another week in the Parachuteverse. See you again with another update. Ciao.
submitted by abhijoysarkar to ParachuteToken [link] [comments]

White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
https://preview.redd.it/giu1ssilga151.jpg?width=900&format=pjpg&auto=webp&s=41510785ccdc0d99544ec74229f62427d1c0ce3e
Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.


This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.


On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.


In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
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]

Technical: A Brief History of Payment Channels: from Satoshi to Lightning Network

Who cares about political tweets from some random country's president when payment channels are a much more interesting and are actually capable of carrying value?
So let's have a short history of various payment channel techs!

Generation 0: Satoshi's Broken nSequence Channels

Because Satoshi's Vision included payment channels, except his implementation sucked so hard we had to go fix it and added RBF as a by-product.
Originally, the plan for nSequence was that mempools would replace any transaction spending certain inputs with another transaction spending the same inputs, but only if the nSequence field of the replacement was larger.
Since 0xFFFFFFFF was the highest value that nSequence could get, this would mark a transaction as "final" and not replaceable on the mempool anymore.
In fact, this "nSequence channel" I will describe is the reason why we have this weird rule about nLockTime and nSequence. nLockTime actually only works if nSequence is not 0xFFFFFFFF i.e. final. If nSequence is 0xFFFFFFFF then nLockTime is ignored, because this if the "final" version of the transaction.
So what you'd do would be something like this:
  1. You go to a bar and promise the bartender to pay by the time the bar closes. Because this is the Bitcoin universe, time is measured in blockheight, so the closing time of the bar is indicated as some future blockheight.
  2. For your first drink, you'd make a transaction paying to the bartender for that drink, paying from some coins you have. The transaction has an nLockTime equal to the closing time of the bar, and a starting nSequence of 0. You hand over the transaction and the bartender hands you your drink.
  3. For your succeeding drink, you'd remake the same transaction, adding the payment for that drink to the transaction output that goes to the bartender (so that output keeps getting larger, by the amount of payment), and having an nSequence that is one higher than the previous one.
  4. Eventually you have to stop drinking. It comes down to one of two possibilities:
    • You drink until the bar closes. Since it is now the nLockTime indicated in the transaction, the bartender is able to broadcast the latest transaction and tells the bouncers to kick you out of the bar.
    • You wisely consider the state of your liver. So you re-sign the last transaction with a "final" nSequence of 0xFFFFFFFF i.e. the maximum possible value it can have. This allows the bartender to get his or her funds immediately (nLockTime is ignored if nSequence is 0xFFFFFFFF), so he or she tells the bouncers to let you out of the bar.
Now that of course is a payment channel. Individual payments (purchases of alcohol, so I guess buying coffee is not in scope for payment channels). Closing is done by creating a "final" transaction that is the sum of the individual payments. Sure there's no routing and channels are unidirectional and channels have a maximum lifetime but give Satoshi a break, he was also busy inventing Bitcoin at the time.
Now if you noticed I called this kind of payment channel "broken". This is because the mempool rules are not consensus rules, and cannot be validated (nothing about the mempool can be validated onchain: I sigh every time somebody proposes "let's make block size dependent on mempool size", mempool state cannot be validated by onchain data). Fullnodes can't see all of the transactions you signed, and then validate that the final one with the maximum nSequence is the one that actually is used onchain. So you can do the below:
  1. Become friends with Jihan Wu, because he owns >51% of the mining hashrate (he totally reorged Bitcoin to reverse the Binance hack right?).
  2. Slip Jihan Wu some of the more interesting drinks you're ordering as an incentive to cooperate with you. So say you end up ordering 100 drinks, you split it with Jihan Wu and give him 50 of the drinks.
  3. When the bar closes, Jihan Wu quickly calls his mining rig and tells them to mine the version of your transaction with nSequence 0. You know, that first one where you pay for only one drink.
  4. Because fullnodes cannot validate nSequence, they'll accept even the nSequence=0 version and confirm it, immutably adding you paying for a single alcoholic drink to the blockchain.
  5. The bartender, pissed at being cheated, takes out a shotgun from under the bar and shoots at you and Jihan Wu.
  6. Jihan Wu uses his mystical chi powers (actually the combined exhaust from all of his mining rigs) to slow down the shotgun pellets, making them hit you as softly as petals drifting in the wind.
  7. The bartender mutters some words, clothes ripping apart as he or she (hard to believe it could be a she but hey) turns into a bear, ready to maul you for cheating him or her of the payment for all the 100 drinks you ordered from him or her.
  8. Steely-eyed, you stand in front of the bartender-turned-bear, daring him to touch you. You've watched Revenant, you know Leonardo di Caprio could survive a bear mauling, and if some posh actor can survive that, you know you can too. You make a pose. "Drunken troll logic attack!"
  9. I think I got sidetracked here.
Lessons learned?

Spilman Channels

Incentive-compatible time-limited unidirectional channel; or, Satoshi's Vision, Fixed (if transaction malleability hadn't been a problem, that is).
Now, we know the bartender will turn into a bear and maul you if you try to cheat the payment channel, and now that we've revealed you're good friends with Jihan Wu, the bartender will no longer accept a payment channel scheme that lets one you cooperate with a miner to cheat the bartender.
Fortunately, Jeremy Spilman proposed a better way that would not let you cheat the bartender.
First, you and the bartender perform this ritual:
  1. You get some funds and create a transaction that pays to a 2-of-2 multisig between you and the bartender. You don't broadcast this yet: you just sign it and get its txid.
  2. You create another transaction that spends the above transaction. This transaction (the "backoff") has an nLockTime equal to the closing time of the bar, plus one block. You sign it and give this backoff transaction (but not the above transaction) to the bartender.
  3. The bartender signs the backoff and gives it back to you. It is now valid since it's spending a 2-of-2 of you and the bartender, and both of you have signed the backoff transaction.
  4. Now you broadcast the first transaction onchain. You and the bartender wait for it to be deeply confirmed, then you can start ordering.
The above is probably vaguely familiar to LN users. It's the funding process of payment channels! The first transaction, the one that pays to a 2-of-2 multisig, is the funding transaction that backs the payment channel funds.
So now you start ordering in this way:
  1. For your first drink, you create a transaction spending the funding transaction output and sending the price of the drink to the bartender, with the rest returning to you.
  2. You sign the transaction and pass it to the bartender, who serves your first drink.
  3. For your succeeding drinks, you recreate the same transaction, adding the price of the new drink to the sum that goes to the bartender and reducing the money returned to you. You sign the transaction and give it to the bartender, who serves you your next drink.
  4. At the end:
    • If the bar closing time is reached, the bartender signs the latest transaction, completing the needed 2-of-2 signatures and broadcasting this to the Bitcoin network. Since the backoff transaction is the closing time + 1, it can't get used at closing time.
    • If you decide you want to leave early because your liver is crying, you just tell the bartender to go ahead and close the channel (which the bartender can do at any time by just signing and broadcasting the latest transaction: the bartender won't do that because he or she is hoping you'll stay and drink more).
    • If you ended up just hanging around the bar and never ordering, then at closing time + 1 you broadcast the backoff transaction and get your funds back in full.
Now, even if you pass 50 drinks to Jihan Wu, you can't give him the first transaction (the one which pays for only one drink) and ask him to mine it: it's spending a 2-of-2 and the copy you have only contains your own signature. You need the bartender's signature to make it valid, but he or she sure as hell isn't going to cooperate in something that would lose him or her money, so a signature from the bartender validating old state where he or she gets paid less isn't going to happen.
So, problem solved, right? Right? Okay, let's try it. So you get your funds, put them in a funding tx, get the backoff tx, confirm the funding tx...
Once the funding transaction confirms deeply, the bartender laughs uproariously. He or she summons the bouncers, who surround you menacingly.
"I'm refusing service to you," the bartender says.
"Fine," you say. "I was leaving anyway;" You smirk. "I'll get back my money with the backoff transaction, and posting about your poor service on reddit so you get negative karma, so there!"
"Not so fast," the bartender says. His or her voice chills your bones. It looks like your exploitation of the Satoshi nSequence payment channel is still fresh in his or her mind. "Look at the txid of the funding transaction that got confirmed."
"What about it?" you ask nonchalantly, as you flip open your desktop computer and open a reputable blockchain explorer.
What you see shocks you.
"What the --- the txid is different! You--- you changed my signature?? But how? I put the only copy of my private key in a sealed envelope in a cast-iron box inside a safe buried in the Gobi desert protected by a clan of nomads who have dedicated their lives and their childrens' lives to keeping my private key safe in perpetuity!"
"Didn't you know?" the bartender asks. "The components of the signature are just very large numbers. The sign of one of the signature components can be changed, from positive to negative, or negative to positive, and the signature will remain valid. Anyone can do that, even if they don't know the private key. But because Bitcoin includes the signatures in the transaction when it's generating the txid, this little change also changes the txid." He or she chuckles. "They say they'll fix it by separating the signatures from the transaction body. They're saying that these kinds of signature malleability won't affect transaction ids anymore after they do this, but I bet I can get my good friend Jihan Wu to delay this 'SepSig' plan for a good while yet. Friendly guy, this Jihan Wu, it turns out all I had to do was slip him 51 drinks and he was willing to mine a tx with the signature signs flipped." His or her grin widens. "I'm afraid your backoff transaction won't work anymore, since it spends a txid that is not existent and will never be confirmed. So here's the deal. You pay me 99% of the funds in the funding transaction, in exchange for me signing the transaction that spends with the txid that you see onchain. Refuse, and you lose 100% of the funds and every other HODLer, including me, benefits from the reduction in coin supply. Accept, and you get to keep 1%. I lose nothing if you refuse, so I won't care if you do, but consider the difference of getting zilch vs. getting 1% of your funds." His or her eyes glow. "GENUFLECT RIGHT NOW."
Lesson learned?

CLTV-protected Spilman Channels

Using CLTV for the backoff branch.
This variation is simply Spilman channels, but with the backoff transaction replaced with a backoff branch in the SCRIPT you pay to. It only became possible after OP_CHECKLOCKTIMEVERIFY (CLTV) was enabled in 2015.
Now as we saw in the Spilman Channels discussion, transaction malleability means that any pre-signed offchain transaction can easily be invalidated by flipping the sign of the signature of the funding transaction while the funding transaction is not yet confirmed.
This can be avoided by simply putting any special requirements into an explicit branch of the Bitcoin SCRIPT. Now, the backoff branch is supposed to create a maximum lifetime for the payment channel, and prior to the introduction of OP_CHECKLOCKTIMEVERIFY this could only be done by having a pre-signed nLockTime transaction.
With CLTV, however, we can now make the branches explicit in the SCRIPT that the funding transaction pays to.
Instead of paying to a 2-of-2 in order to set up the funding transaction, you pay to a SCRIPT which is basically "2-of-2, OR this singlesig after a specified lock time".
With this, there is no backoff transaction that is pre-signed and which refers to a specific txid. Instead, you can create the backoff transaction later, using whatever txid the funding transaction ends up being confirmed under. Since the funding transaction is immutable once confirmed, it is no longer possible to change the txid afterwards.

Todd Micropayment Networks

The old hub-spoke model (that isn't how LN today actually works).
One of the more direct predecessors of the Lightning Network was the hub-spoke model discussed by Peter Todd. In this model, instead of payers directly having channels to payees, payers and payees connect to a central hub server. This allows any payer to pay any payee, using the same channel for every payee on the hub. Similarly, this allows any payee to receive from any payer, using the same channel.
Remember from the above Spilman example? When you open a channel to the bartender, you have to wait around for the funding tx to confirm. This will take an hour at best. Now consider that you have to make channels for everyone you want to pay to. That's not very scalable.
So the Todd hub-spoke model has a central "clearing house" that transport money from payers to payees. The "Moonbeam" project takes this model. Of course, this reveals to the hub who the payer and payee are, and thus the hub can potentially censor transactions. Generally, though, it was considered that a hub would more efficiently censor by just not maintaining a channel with the payer or payee that it wants to censor (since the money it owned in the channel would just be locked uselessly if the hub won't process payments to/from the censored user).
In any case, the ability of the central hub to monitor payments means that it can surveill the payer and payee, and then sell this private transactional data to third parties. This loss of privacy would be intolerable today.
Peter Todd also proposed that there might be multiple hubs that could transport funds to each other on behalf of their users, providing somewhat better privacy.
Another point of note is that at the time such networks were proposed, only unidirectional (Spilman) channels were available. Thus, while one could be a payer, or payee, you would have to use separate channels for your income versus for your spending. Worse, if you wanted to transfer money from your income channel to your spending channel, you had to close both and reshuffle the money between them, both onchain activities.

Poon-Dryja Lightning Network

Bidirectional two-participant channels.
The Poon-Dryja channel mechanism has two important properties:
Both the original Satoshi and the two Spilman variants are unidirectional: there is a payer and a payee, and if the payee wants to do a refund, or wants to pay for a different service or product the payer is providing, then they can't use the same unidirectional channel.
The Poon-Dryjam mechanism allows channels, however, to be bidirectional instead: you are not a payer or a payee on the channel, you can receive or send at any time as long as both you and the channel counterparty are online.
Further, unlike either of the Spilman variants, there is no time limit for the lifetime of a channel. Instead, you can keep the channel open for as long as you want.
Both properties, together, form a very powerful scaling property that I believe most people have not appreciated. With unidirectional channels, as mentioned before, if you both earn and spend over the same network of payment channels, you would have separate channels for earning and spending. You would then need to perform onchain operations to "reverse" the directions of your channels periodically. Secondly, since Spilman channels have a fixed lifetime, even if you never used either channel, you would have to periodically "refresh" it by closing it and reopening.
With bidirectional, indefinite-lifetime channels, you may instead open some channels when you first begin managing your own money, then close them only after your lawyers have executed your last will and testament on how the money in your channels get divided up to your heirs: that's just two onchain transactions in your entire lifetime. That is the potentially very powerful scaling property that bidirectional, indefinite-lifetime channels allow.
I won't discuss the transaction structure needed for Poon-Dryja bidirectional channels --- it's complicated and you can easily get explanations with cute graphics elsewhere.
There is a weakness of Poon-Dryja that people tend to gloss over (because it was fixed very well by RustyReddit):
Another thing I want to emphasize is that while the Lightning Network paper and many of the earlier presentations developed from the old Peter Todd hub-and-spoke model, the modern Lightning Network takes the logical conclusion of removing a strict separation between "hubs" and "spokes". Any node on the Lightning Network can very well work as a hub for any other node. Thus, while you might operate as "mostly a payer", "mostly a forwarding node", "mostly a payee", you still end up being at least partially a forwarding node ("hub") on the network, at least part of the time. This greatly reduces the problems of privacy inherent in having only a few hub nodes: forwarding nodes cannot get significantly useful data from the payments passing through them, because the distance between the payer and the payee can be so large that it would be likely that the ultimate payer and the ultimate payee could be anyone on the Lightning Network.
Lessons learned?

Future

After LN, there's also the Decker-Wattenhofer Duplex Micropayment Channels (DMC). This post is long enough as-is, LOL. But for now, it uses a novel "decrementing nSequence channel", using the new relative-timelock semantics of nSequence (not the broken one originally by Satoshi). It actually uses multiple such "decrementing nSequence" constructs, terminating in a pair of Spilman channels, one in both directions (thus "duplex"). Maybe I'll discuss it some other time.
The realization that channel constructions could actually hold more channel constructions inside them (the way the Decker-Wattenhofer puts a pair of Spilman channels inside a series of "decrementing nSequence channels") lead to the further thought behind Burchert-Decker-Wattenhofer channel factories. Basically, you could host multiple two-participant channel constructs inside a larger multiparticipant "channel" construct (i.e. host multiple channels inside a factory).
Further, we have the Decker-Russell-Osuntokun or "eltoo" construction. I'd argue that this is "nSequence done right". I'll write more about this later, because this post is long enough.
Lessons learned?
submitted by almkglor to Bitcoin [link] [comments]

What are Nano's biggest issues? Let's talk about it!

Let's talk about some of Nano's biggest issues. I also made a video about this topic, available here: https://youtu.be/d9yb9ifurbg.
00:12 Spam
Issues
Potential Mitigations & Outstanding Issues
01:58 Privacy
Issues
  • Nano has no privacy. It is pseudonymous (like Bitcoin), not anonymous.
Potential Mitigations & Outstanding Issues & Outstanding Issues*
  • Second layer solutions like mixers can help, but some argue that isn't enough privacy.
  • The current protocol design + the computational overhead of privacy does not allow Nano to implement first layer privacy without compromising it's other features (fast, feeless, and scalable transactions).
02:56 Decentralization
Issues
  • Nano is currently not as decentralized as it could be. ~25% of the voting weight is held by Binance.
  • Users must choose representatives, and users don't always choose the best ones (or never choose).
Potential Mitigations & Outstanding Issues
  • Currently 4 unrelated parties (who all have a verifiable interest in keeping the network running) would have to work together to attack the network
  • Unlike Bitcoin, there is no mining or fees in Nano. This means that there is not a strong incentive for emergent centralization from profit maximization and economies of scale. We've seen this firsthand, as Nano's decentralization has increased over time.
  • Nano representative percentages are not that far off from Bitcoin mining pool percentages.
  • In Nano, voting weight can be remotely re-delegated to anyone at any time. This differs from Bitcoin, where consensus is controlled by miners and requires significant hardware investment.
  • The cost of a 51% attack scales with the market cap of Nano.
06:49 Marketing & adoption
Issues
  • The best technology doesn't always win. If no one knows about or uses Nano, it will die.
Potential Mitigations & Outstanding Issues
  • I would argue that the best technology typically does win, but it needs to be best in every way (price, speed, accessbility, etc). Nano is currently in a good place if you agree with that argument.
  • Bitcoin started small, and didn't spend money on marketing. It takes time to build a community.
  • The developers have said they will market more once the protocol is where they want it to be (v20 or v21?).
  • Community marketing initiatives have started to form organically (e.g. Twitter campaigns, YouTube ads, etc).
  • Marketing and adoption is a very difficult problem to solve, especially when you don't have first mover advantage or consistent cashflow.
08:07 Small developer fund
Issues
  • The developer fund only has 3 million NANO left (~$4MM), what happens after that?
Potential Mitigations & Outstanding Issues
  • The goal for Nano is to be an Internet RFC like TCP/IP or SMTP - development naturally slows down when the protocol is in a good place.
  • Nano development is completely open source, so anyone can participate. Multiple developers are now familiar with the Nano protocol.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
  • The developer fund was only ~5% of the supply - compare that to some of the other major cryptocurrencies.
10:08 Node incentives
Issues
  • There are no transaction fees, why would people run nodes to keep the network running?
Potential Mitigations & Outstanding Issues
  • The cost of consensus is so low in Nano that the benefits of the network itself are the incentive: decentralized money with 0 transaction fees that can be sent anywhere in the world nearly instantly.
  • Paying $50-$100 a month for a high-end node is a lot cheaper for merchants than paying 1-3% in total sales.
  • Businesses and whales that benefit from Nano (exchanges, remittances, merchant services, etc) are incentivized to keep the protocol developed and running.
11:58 No smart contracts
Issues
  • Nano doesn't support smart contracts.
Potential Mitigations & Outstanding Issues
  • Nano's sole goal is to be the most efficient peer-to-peer value transfer protocol possible. Adding smart contracts makes keeping Nano feeless, fast, and decentralized much more difficult.
  • Other solutions (e.g. Ethereum) exist for creating and enforcing smart contracts.
  • Code can still interact with Nano, but not on the first layer in a decentralized matter.
  • Real world smart contract adoption and usage is pretty limited at the moment, but that might not always be the case.
13:20 Price stability
Issues
  • Why would anyone accept or spend Nano if the price fluctuates so much?
  • Why wouldn't people just use a stablecoin version of Nano for sending and receiving money?
Potential Mitigations & Outstanding Issues
  • With good fiat gateways (stable, low fees, etc), you can always buy back the fiat equivalent of what you've spent.
  • The hope is that with enough adoption, people and businesses will eventually skip the fiat conversion and use Nano directly.
  • Because Nano is so fast, volatility is less of an issue. Transactions are confirmed in <10 seconds, and prices change less in that timeframe (vs 10 minutes to hours for Bitcoin).
  • Stablecoins reintroduce trust. Stable against what? Who controls the supply, and how do you get people to adopt them? What happens if the assets they're stable against fail? Nano is pure supply and demand.
  • With worldwide adoption, the market capitalization of Nano would be in the trillions. If that happens, even millions of dollars won't move the price significantly.
15:06 Deflation
Issues
  • Nano's current supply == max supply. Why would people spend Nano today if it could be worth more tomorrow?
  • What happens to principal representatives and voting weight as private keys are lost? How do you know keys are lost?
Potential Mitigations & Outstanding Issues
  • Nano is extremely divisible. 1 NANO is 1030 raw. Since there are no transaction fees, smaller and smaller amounts of Nano could be used to transact, even if the market cap reaches trillions.
  • People will always buy things they need (food, housing, etc).
  • I'm not sure what the plan is to adjust for lost keys. Probably requires more discussion.
Long-term Scalability
Issue
  • Current node software and hardware cannot handle thousands of TPS (low-end nodes fall behind at even 50 TPS).
  • The more representatives that exist, the more vote traffic is required (network bandwidth).
  • Low-end nodes currently slow down the network significantly. Principal representatives waste their resources constantly bootstrapping these weak nodes during network saturation.
Potential Mitigations & Outstanding Issues
  • Even as is, Nano can comfortably handle 50 TPS average - which is roughly the amount of transactions per day PayPal was doing in 2011 with nearly 100 million users.
  • Network bandwidth increases 50% a year.
  • There are some discussions of prioritizing bootstrapping by vote weight to limit the impact of weak nodes.
  • Since Nano uses an account balance system, pruning could drastically reduce storage requirements. You only need current state to keep the network running, not the full transaction history.
  • In the future, vote stapling could drastically reduce bandwidth usage by collecting all representative signatures up front and then only sharing that single aggregate signature.
  • Nano has no artificial protocol-based limits (e.g. block sizes or block times). It scales with hardware.
submitted by Qwahzi to nanocurrency [link] [comments]

Telegram AMA - Summary

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

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

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