Bitcoin Evolution Reviews: 10 Things You Must Know 2020 ...

Forget the FAANG Stocks and Buy "TIPS" Instead

For the past decade, the FAANG stocks have been unstoppable. By FAANG, I'm referring to:

Facebook
Amazon
Apple
Netflix
Google, which is a subsidiary of Alphabet

Over the trailing 10-year period, the benchmark S&P 500 is up 200%, while the FAANG stocks have delivered an average return of 1,263%. Note that this includes Facebook's 591% return since its initial public offering in 2012.

FAANGs have been so popular because of their industry-specific domination and exceptional growth rates. But after more than a decade, even the FAANGs are maturing. As the U.S. and global economy transform in the wake of the coronavirus disease 2019 (COVID-19) pandemic, a new set of superstar stocks appears ready to step into the spotlight.

Investors, say goodbye to the FAANG stocks and hello to TIPS.

The T stands for Teladoc Health

Over the next decade, we're going to witness an incredible push toward precision medicine. Rather than leaning on one-size-fits-all treatments, we'll see individual treatment plans take over. Lower costs and patient/physician convenience will dominate the conversation. These trends suggest that telemedicine giant Teladoc Health (NYSE:TDOC) has truly unlimited upside.

Many folks will point out that COVID-19 has been a big catalyst -- and that's 100% true. Total virtual visits more than tripled during the second quarter, with physicians and hospitals wanting to keep at-risk patients out of their offices as much as possible. But this growth story has been evolving for years. With Teladoc on track for $1 billion in sales in 2020 (a 75% compound annual growth rate since 2013), and insurers enjoying the lower cost burden associated with virtual visits, Teladoc's game is still in the very early innings.

Its growth story is about to get even more exciting. Teladoc is in the process of acquiring applied health signals company Livongo Health (NASDAQ:LVGO) for $18.5 billion in a cash-and-stock deal. Livongo's solutions rely on artificial intelligence and send its members tips and nudges that lead to lasting behavioral changes. Livongo has doubled or nearly doubled its diabetes member count in each of the past three years.

When Teladoc and Livongo become a single company, it could well have tenfold upside over the next decade.

The I stands for Intuitive Surgical

To really drive home the importance of precision medicine, I'm doubling down on exposure to medical-device innovation with Intuitive Surgical (NASDAQ:ISRG), the developer of the da Vinci surgical system that aids a variety of soft tissue surgeries.

Why Intuitive Surgical? To begin with, it has what looks to be an insurmountable market share advantage in surgical-assisted systems. As of the end of June, Intuitive Surgical had installed 5,764 of its da Vinci systems worldwide -- far more than all of its competitors combined. This has allowed the company to build rapport with hospitals and surgical centers. It also doesn't hurt that these machines cost anywhere from $0.5 million to $2.5 million, making it unlikely that its clients will ever switch to a competitor.

This is also a company built to generate juicier operating margins over time. During the 2000s, the da Vinci system made up the lion's share of Intuitive Surgical's sales. Unfortunately, the margins on these highly intricate machines aren't that great, but as the installed base of da Vinci systems has grown, so has the percentage of sales tied to servicing and procedure-specific instruments. These are much higher-margin sales segments poised to grow throughout the 2020s.

There's plenty of opportunity for Intuitive Surgical to grow its share in various soft tissue surgical indications. The company offers double-digit growth potential for a long time to come.

The P stands for Pinterest

In the years to come, popular social media and e-commerce sites are going to have a field day. That's why it's smart for investors to buy into Pinterest (NYSE:PINS), which offers exceptional growth potential on both fronts.

Though it's difficult to maintain user growth over a long period of time in the social media space, this hasn't phased Pinterest. In the June-ended quarter, it tallied 416 million monthly active users (MAU), which is up a cool 116 million MAU from the year-ago period.

While COVID-19 keeping people in their homes has certainly encouraged increased screen time, the really noteworthy statistic is that Pinterest has seen more than 90% of its MAU growth come from international markets. On the downside, international users offer much lower revenue per user than MAUs in the United States. However, Pinterest more than doubled its average revenue per international user in 2019. It's these overseas users that offer Pinterest sustainable double-digit growth potential.

There's also the company's push into e-commerce. Since Pinterest provides a platform for its users to share what products and interests matter to them, it makes sense to connect small businesses to these presumably motivated shoppers. The company is focused on user convenience and maintaining engagement. It could well become a popular e-commerce destination in the years to come.

The S stands for Square

Finally, investors will want to own preeminent fintech stock Square (NYSE:SQ) to take advantage of ongoing innovation in the payment space.

You're probably familiar with or have used one of Square's point-of-sale devices at some point. Between 2012 and 2019, the gross payment volume on Square's seller ecosystem surged from $6.5 billion to $106.2 billion. That's a compound annual growth rate of 49%.

Traditionally, Square's point-of-sale devices, loans, and analytic tools have been targeted at small businesses. But what's interesting is just how many medium-sized and large businesses have been using its seller ecosystem of late. Through the first two quarters of 2020, 52% of the GPV came from businesses with an annualized GPV of at least $125,000. Since the company's seller ecosystem is based on merchant fees, attracting bigger businesses can lead to significant sales revenue.

Yet what's really exciting Wall Street and investors about Square is the company's peer-to-peer payment platform Cash App. User growth has been phenomenal, with MAUs increasing from 7 million at the end of 2017 to 30 million by June 2020. Approximately 7 million of these MAUs are also using Cash Card, a traditional debit card that links to a users' Cash App balance.

Cash App represents the evolution of financial payments, and it gives Square so many ways to make money. Cash App generates merchant fees, transfers fees, and even revenue from investments and bitcoin exchange. Cash App gives Square genuine 10-bagger potential.

Forget FAANG, folks, and say hello to TIPS.
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Cryptocurrencies in the Era of COVID-19 (Part One)

Cryptocurrencies in the Era of COVID-19 (Part One)

https://preview.redd.it/cscwryttr4o51.jpg?width=2560&format=pjpg&auto=webp&s=ddd90997810c0cc46cf8e6b5cac534cd8f9c796f
To speak of “post-COVID” is not only premature, but perpetuates the myth that the mere passage of time will lead to some kind of universal recovery. The reality is rather more harsh. Currently, the only positive dynamic at work is that the patient will learn to cope with the symptoms of a congenital condition, until, and if, the underlying problem can be resolved. While we would prefer otherwise, this is the Era of COVID.
The opening up of Europe’s Mediterranean tourist industry in the summer of 2020 was always going to increase the rate of COVID transmission, but the experiment was justified in terms of local economic dependency on foreign visitors vis-a-vis the health costs, the degree of disease impact, and overly testing the limits of voluntary social distancing.
From the perspective of the pathogen, however, absolutely nothing has changed. In terms of global polity, economic policy and social welfare, everything has changed, is changing, and may well end up creating scenarios out of all recognition.
Critical to appreciating the “why?” of this reorientation is the recognition that only a raft of temporary, but wholly unsustainable macroeconomic policies, have kept the global economy functioning. The problem, however, is that it is a bit like cheating a wise man. You only get away with it once. Thereafter you have to accept realities and manage how they play out as best as you can.
Central to the latter is the fact that until a vaccine is developed, ours is the era of socio-economic COVID-19 management. All other determinations derive from where they stand in regards this polarity; the spread of the disease on the one part and the damage done to the global economy on the other. The balance between lives and livelihoods. In reality the two are not finally distinct. The acceptance of higher COVID-19 infection will have economic costs both over the short and long term. The worry is that these could be far, far greater than many currently anticipate. Critically, that those people with mild or no symptoms today, could develop significant health problems in their tens of millions as they get older. That the virus lays dormant at a cellular level but surfaces to cause physical problems in the future, negatively impacting the functioning of vital organs, including the brain. As this happens the economic costs will become significant.
To restate. Temporary economic measures funded by quantitative easing have allowed the global economy to maintain a degree of normalcy, but over time these will inevitably weaken the economy they were designed to protect. In similitude, the temporary relief of putting short term spending needs on the credit card eventually crashes into the wall of maximised indebtedness. The consequence is either the hardship of paying back what has been borrowed, or simply walking away from the debt and being cut off from credit thereafter.
The last time the global economy faced anything like this level of catastrophic dialectic was after the two world wars. For the people of Germany and France coins and banknotes were minted with ever greater number of zeros, but ever reduced buying power. In the end these currencies were simply abandoned—replaced with the Reichsmark and nouveau franc respectively. The former at a rate of one trillion (sic) to one! Stability resulted, but it must be underscored, because the printing presses were turned off.
The trick was to introduce a medium of exchange whose physical number was very tightly defined and limited. As long as the temptation to cheat when you run out of money is resisted, all will be well. All this may prefigure a nouveau dollar, digital yuan or an altogether different scenario may unfold.
This is where the current locus of speculation—financial and theoretical— currently lies.
Any considerations in these respects needs to take into account the following factors as delimiting the parameters of probable outcomes:
  • Structural shifts in global economic activity away from travel, leisure, tourism, some automotive and manufacturing towards health, security, robotics, datacom and a range of advanced technologies. This not only portends shifts in investment between sectors, but more graphically, shifts in wealth between regions and nations.
  • Growing tensions within the European Union. With many of the southern states so highly dependent on tourism, significantly declining income will further exacerbate the north-south wealth gap, and thus tensions over budgetary redistribution.
  • Structural shifts in global geo-politics and trade away from multilateralism towards bilateralism, supply chain security, high-tech protectionism and hegemonic alliances.
  • A new era of Western statism necessary to reduce the threat of a severe economic depression. This will be directed to enhanced infrastructure projects, support for advanced, green and digital technologies, new strategies on preventative and remote health care, and internal security and surveillance.
  • Social acceptance of greater government intrusion and regulation as the price of minimising the impact of COVID, future pandemic threats and economic downturn.
More important than any of these are the underlying shift towards new orthodoxies at the expense of tearing up the old order. This not only includes the fundamentals of government macroeconomic theory (and thus policy) but the rules underpinning all commercial and currency infrastructures. “Fundamental” because the three are inextricably linked, yet autonomous enough for one to affect the other with a potential impact so dramatic it is difficult to overstate.
These paradigms are so new, and their final impact so remote, that the most significant element of their existence is easily missed: A year ago such a narrative would have been viewed as sheer lunacy. A year from now so obvious as to merit an historical footnote. Emerging from the rabbit hole everything will be different. Everything is up in the air and everyone is scrambling to find an anchor.
In the meanwhile, popular investment ethos is myopic, entirely oblivious to the undercurrents which will mark the end of the status quo. Somewhere along the line, a soaring Stockmarket has become an end in itself. Wealth, the mere addition of fiat zeros.
The intention of the original cryptocurrency was to sidestep this fallacy. To extricate and preserve real wealth from constantly shifting foundations. Like all ideals, it has been imperfectly realised. No one can deny that the meteoric rise in Bitcoins’ value from $327 to almost $12,000 (at the time of writing) reflects some degree of speculation, but it also reflects substantive, intelligibly based doubts as to the fundamentals sustaining fiat currencies. They may still exist in five or ten years, but what will they tangibly be worth?
Eventual outcomes here—including which cryptocurrencies prove their worth —will be determined by our collective actions. History reveals that whatever divergences take place, in the end the solid and substantial always win out. Lies are exposed and tyranny eventually falls. Shaky assets yield to solid. Bad money drives good to a premium.
(Subsequent additions to this article will examine critical factors determining the path of cryptocurrency evolution in the era of COVID as these arise, including government regulations).
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QDAO DeFi Weekly Update #2

Last week we presented the first QDAO DeFi news digest – it’s time for the second one! Jump into this exciting flow of DeFi market news and QDAO DeFi updates. Find out more below.

Cryptocurrencies and DeFi coins market analysis

The whole crypto market is coloured green. Bitcoin is preparing for another rush upwards after climbing above the $12,000 mark. No surprise, altcoins are ready to follow the king. In the meantime, the Ethereum network can’t handle the pressure and the transactional fees show record figures. The reason is simple – DeFi’s popularity.
DeFi is the fastest developing market in the crypto industry. The total value locked in DeFi doubled in the last 30 days, reaching a tremendous $6.24 billion. But the pressure on Ethereum blockchain exerted by DeFi services is slowing down the global growth of the market. The main DeFi cryptocurrencies that closed last week with loses were:
However, the DeFi market is only just at the beginning of its evolution and we will see solid growth in the near future.

DeFi news

DeFi continues to be in the spotlight! News portals are producing more and more articles on this topic. Here is the most interesting news of the past few weeks:

QDAO DeFi updates

We are constantly improving QDAO DeFi services. We need to act sharp to attract more attention during the hype.
Our main update for the last two weeks was adding 9 new coins to the QDAO DeFi program in Noah Custody Wallet. Now all participants can use 11 cryptocurrencies with 4 types of terms at different interest rates. Learn more here.

The latest stats from QDAO DeFi PULSE

Number of active users — 7316
Total amount of users’ funds:
2670235.9021 XRP
879.62027663 ETH
200.64936381 BTC
13686064.245 ADA
…and more.
Current users’ interest balance:
61881.20361 XRP
14.4838151 ETH
2.960816229 BTC
106351.14169 ADA
…and more.
Number of withdrawals made: 4840
We will add new features in the coming future. Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram and LINE (for the Japanese-speaking community).
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Particl Marketplace: Where Sellers Meet Buyers

Particl Marketplace: Where Sellers Meet Buyers
People had been speculating since the dawn of crypto when the world’s largest online marketplaces, the ones of the Amazon caliber like eBay, Etsy or AliExpress, and, well, Amazon itself, would start to accept cryptocurrencies. There were a slew of rumors, opinions, and theories thickly interspersed with false reports popping up here and there of Amazon and its little cousins being on the verge of embracing cryptocurrencies. On top of that, someone has actually posted a petition on change.org to add Ether to Amazon as a payment method.
by StealthEX
Long story short, that was a waste of time. High hopes fell flat, and people lost religion. But not all. As the common wisdom goes, when hope dies, action begins. This exposition describes one such effort which tries to bring to fruition the idea of a decentralized marketplace for trading goods and services. And as you might have already figured it out, with a cryptocurrency as a means of payment. So let’s welcome Particl Marketplace and see what it has to offer – and what Amazon has missed.

What is it, in simple words?

Particl Marketplace is an online marketplace where you can trade goods and services. Not a big deal, you may think. However, what distinguishes it from places like Amazon as well as cryptocurrency-enabled marketplaces is the decentralized nature of purchases on Particl. You can think of it as a variety of a decentralized cryptocurrency exchange (aka DEX) where trades are being conducted on-chain. But in case of Particl, it is goods and services that are being traded, not fiat or crypto, with deals on-chain as well, fully encrypted and decentralized.
Particl is a global peer-to-peer privacy-centered marketplace that uses an automated two-party escrow system. It is crypto-agnostic and designed to work with any cryptocurrency, creating a secure, highly-scalable environment supported by a privacy-focused blockchain-based platform. The team behind the project sees its mission in developing “a new decentralized, private and democratic economy” that is governed by the network of its users, with no central authority or middleman getting in the way.
In the project developers’ own words, Particl enables everyone to participate in a free, anonymous exchange of all kinds of goods, without paying any fee and regardless of geographical location. To be sure, you are already thinking about Silk Road and its dark fate, and that the government is going to crack down monumentally on Particl one day. Well, the outcome may vary as the payments on the platform are made using its own cryptocurrency PART, with its laser focus on privacy and anonymity. But more on this later.

How did it grow up?

The development of the Particl project started in early 2017 with the release of the white paper describing the team’s vision for the marketplace, which was shortly followed by a successful seed funding that brought in enough funds ($750,000) to support the development of the project for a year (it turned out sufficient to last for over two years).
These donations helped to establish the Particl Foundation, a non-profit Swiss organization with the goal of providing legal protection for the project to ensure its sustained development and compliance with government regulations. It receives 10% of all the staking rewards generated on the Particl network, making the project self-sustainable and free for most uses.
Unlike other such projects in the crypto arena, Particl has been using its own blockchain from day one, which happened to be July 17, 2017. It was specifically designed to be crypto agnostic by supporting and working with any cryptocurrency. Additionally, it supported the smart contract tech out of the box, giving users an ability to build all kinds of decentralized applications (dApps) that can be directly integrated into the Particl marketplace.
On May 31, 2018, the Particl Marketplace, the Holy Grail of the entire endeavor, was made available for alpha testing on the testnet of the project, which later split into development and stable branches. It went live with the mainnet release of the Particl Open Marketplace on August 12, 2019, which featured Particl Desktop 2.0.0, a client-side application providing user interface and built-in wallet functions.
On November 25, 2019, the Particl Desktop 2.3.0 client was released that enabled Bitcoin payments and marked the introduction of untraceable transactions. With the help of the new in-wallet exchange module, everyone can easily swap their bitcoins for the native PART coin. Moreover, the module allows seamless integration of third-party accountless exchange services right into the marketplace, with StealthEX being one of them.

How is it different from other marketplaces?

The common solution many P2P marketplaces implement to protect buyers and sellers from the other party failing to honor their end of the bargain is through third-party escrow, where the “third-party” in the majority of places and cases is the platform itself that the market participants must mutually trust. In short, it is a single point of failure. And the selling (pardon the pun) point of the entire Particl’s marketplace is its decentralized escrow, which is a thing entirely between the two parties engaged. No middlemen allowed here!
And these are not empty words. Particl implements the concept best known as Mutually Assured Destruction (aptly shortened as MAD), a military doctrine you are certainly familiar with, and probably even afraid of, that consists in a mutual destruction of two belligerent parties in an all-out nuclear holocaust. If you are curious, the idea stems from the game theory and has a lot to do with the Nash Equilibrium, of John Nash’s fame. In a nutshell, Particl removes the need for a trusted escrow agent by introducing MAD escrow smart contracts.
A MAD escrow contract allows to lock funds in a multi-signature address that can be released only if all the parties sign off on the transaction. So both the seller and the buyer lock in the contract an agreed amount for a specified period of time, with the buyer also depositing the payment for the items purchased. The escrowed funds are released when both parties confirm the fulfillment of the agreement. Should one party break the terms, the funds remain locked for good causing a mutual financial loss until both parties agree to sign off.
Another crucial aspect of Particl Marketplace is its end-to-end privacy. The problem with conventional marketplaces acting as an escrow agent is that the communication between the parties should be open to the agent for it to serve as an arbitrator. With Particl, it is no longer required, and all messages between the buyer and the seller are encrypted. Despite being public, only their recipient can decrypt them, which effectively makes messages untraceable.
This is also where the PART coin turns up quite handy. It enables three different privacy modes, and with the most secure mode, the Anon mode, PART transactions utilize the RingCT privacy protocol, which hides both the amount transferred and the identity of the parties transacting. Accordingly, every part of the entire Particl trading environment is thoroughly decentralized, and the full anonymity of market participants is maintained at all times, making the platform a completely trustless marketplace. Big Brother is no longer watching you.
Aside from that, you can stake PART and generate a source of passive income for yourself. Particl uses a custom Proof-of-Stake consensus protocol, allowing you to get a piece of the pie in the form of new coins created at each block according to the scheduled inflation process. The annual inflation rate is initially set to 5% and goes down 1 percentage point every year until it finally floors at 2% indefinitely. Moreover, these rates are a bare minimum as they assume that all PART coins have been staked. Otherwise, the income will be bigger and better as the same rewards are paid to fewer coins.
Additionally, your passive income through staking PART will be augmented by the fees generated through the everyday marketplace operations. Whether it is network fees collected via PART transactions or marketplace listing fees paid by the sellers, all of them contribute to the stakers’ rewards. At the end of the day, staking PART can turn into a profitable business once the Particl platform starts to attract more traffic. In simple words, the more popular the market gets, the more fees it generates, the more coins the stakers earn.
As PART is a standalone cryptocurrency, it can be used outside Particl Marketplace as well. So if you plan on using it for purposes other than eCommerce, it is traded on several exchanges, for example, HitBTC and Bittrex, with more exchanges to list PART in the future. There are native Particl wallets available for storing PART such as Particl Qt with Ledger support, Particl-cli, and Particl Copay Wallet, with the latter available for both the desktop and the mobile. There is also a third-party multicurrency Flare Wallet, enabling cold staking for Particl.
Running Particl is a collective effort, which means no operational costs and no company bagging profits from it. The marketplace buyers don’t pay any commissions other than tiny network confirmation fees, while the sellers are only charged a small listing fee to keep spam listings to a minimum. This creates a highly competitive environment, with the sellers making more profits and the buyers having access to cheaper goods and services as a result.

What’s in the pipeline?

The next major release of the Particl Marketplace should have been Particl Desktop 2.4.0, but it was later rebranded as Particl Desktop 3.0 to reflect its breakthrough nature. It is set for release in the second half of 2020 and will enable the addition of user-created markets and storefronts, effectively turning the Particl marketplace into a network of specialized markets.
And if you think about it, that makes perfect sense. Say, you have a social network account highly merited and full of karma that you want to sell, whatever your reasons might be. Then creating a dedicated market for trading such accounts privately and securely may look extremely appealing to you. Whether it is the right thing to do is another matter, of course.
Kidding aside, it is obviously not about selling or offering something that the society on the whole doesn’t approve of or frowns upon. If you are a freelancer, for example, a graphics designer or a translator, you would be certainly interested in the future freelancer markets – along with your potential employers. Put simply, birds of a feather should flock together.
To keep things in perspective, popular freelancer markets that exist today charge up to 10-20% of what you would get from your client if you negotiated directly. All in all, establishing communities across the marketplace seems to be the next logical step in the natural evolution and growth of the platform. In fact, it is a little surprising that the Particl team didn’t come up with this idea earlier.
Meanwhile, we wish Particl success and good luck in achieving their goals and aspirations.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to PART.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your PART coins!
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [email protected].
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/08/26/particl-marketplace-where-sellers-meet-buyers/
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Yield Farming in DeFi — the Evolution outcome of the Crypto Industry

Yield Farming in DeFi — the Evolution outcome of the Crypto Industry

Yield Farming in DeFi — the Evolution outcome of the Crypto Industry
Yield Farming (income farming) is one of the key trends actively developing in DeFi. Thanks to this earnings strategy, the Compound project has recently taken off, ranking first in terms of the number of user funds blocked in the protocol.
The Yield Farming investment strategy, or income pharming, is to generate income from the placement of cryptocurrencies on various DeFi-platforms for crypto-lending. Before Yield Farming, the main trend in DeFi was conventional cryptocurrency deposits, bringing in 4–10% returns. However, Yield Farming can generate up to 100% annualized income.

Yield Farming is the main driver of the DeFi sector

The number of cryptocurrencies locked in DeFi (Total Value Locked — TVL) is now $2.29 billion. At the same time, over the past month, the capitalization of funds in DeFi has more than doubled, largely due to the popularity of income pharming. At the same time, the top five DeFi protocols attracted $2.1 billion in crypto assets, or 91.7% of the total TVL volume.
• Compound — $690.8 million
• MakerDAO — $644.7 million
• Synthetix — $396 million
• Aave — $192.4 million
• Balancer — $178.2 million
And the total number of users of these projects was about 230,000.
The sharp rise in interest in Yield Farming is associated with one of the new protocols on the market — Compound. Users of this platform can provide loans or take out loans in nine different cryptocurrencies, for which they receive COMP project tokens. With these tokens, Compund users can make decisions about its future development. In other words, conditional “shares” of the Compound project are distributed to those who provide liquidity to the platform, as well as to those who take loans on it. This largely corresponds to the concept of SAFG (“a simple agreement on the possibility of obtaining the right to control in the future”) as a logical development of other principles of distribution of tokens — SAFE and SAFT.

COMP for BAT

Issued daily at 2880 COMP, which is equivalent to $518,688 at a token price of $180.1. Half goes to liquidity providers, half to borrowers. At the same time, distribution is carried out to each of nine markets (BAT, ETH, USDC, USDT, Dai, REP, 0x and Sai) — to everyone who borrows or takes loans from Compound, in proportion to the interest rate, as well as to their payments for interest or income. The higher the rates for a loan or loan, the more COMP tokens are paid.
At the same time, Compound is constantly updating its token distribution rules. So, according to the latest update from July 2, COMP payments begin to be made based not on interest rates, but on the dollar value of the funds in the transaction. This should eventually lead to more use of stablecoins. For them, borrowing rates can be less than 1%, which is ten times less than for the most volatile asset in DeFi — the BAT token.
It is worth noting that until recently, Compound users received the maximum number of COMP tokens for transactions with BAT. As a result, for the period from June 19 to July 2, the volume of transactions with this asset reached $931 million, which exceeded the total turnover of Ethereum and DAI for the same period. However, another change in the rules sharply increased the volumes of DAI and USDC.

Yield Farming: Borrowing Is Better Than Lending

The changes did not affect the main advantage of Compound — the COMP tokens received by users still cover the cost of borrowing in cryptocurrencies. In other words, Compound users find it more profitable to borrow than borrow (as noted, for example, with the Tether stablecoin). Payments of COMP tokens to borrowers look like a cryptocurrency cashback for participation in the platform — this can be viewed as if, for example, American Express bank shared a small share in the share capital with users for each transaction.
This Compound policy has led to a sharp increase in loans, as well as increased income for those providing liquidity, as they also receive COMP tokens for participating in the platform. Moreover, this cashback is a plus to the interest earned on borrowed cryptocurrencies. Moreover, since borrowers receive payments on loans, liquidity providers can use their own assets to borrow more funds. As a result, their income increases and they again provide liquidity to Compound.

Not only Compound

Compound was not the only one that played an important role in popularizing Yield Farming. So, Aave makes it possible to borrow cryptocurrencies at a fixed rate, and then place them in order to generate income. Aave’s fixed rate is usually higher than Compound’s variable, which means Aave gives more income to those who provide crypto loans. There are also liquidity pools, such as Uniswap, which offer large returns (sometimes at 100% annualized rate), but with higher risks.
While the price of СOMP shows a clear downward trend (research of the Delta Exchange platform claims that this token is five times overvalued), Compound is overgrown with competitors. So, on June 22, the COMP token cost $327.82 (on the day of listing on Coinbase Pro, June 23, at the moment the cost even rose to $427), and on July 12 it was already $180.1. The fall of СOMP is noticeable, but it is worth noting that at the beginning of its emission the token cost only $16. Moreover, about 80% of COMP tokens are distributed among the top 10 addresses in Compound, and the volume of tokens in free circulation is $686 million, which corresponds to a free-float indicator of 38%. It is not high, and this will contribute to the strong volatility of COMP.
Against the background of a decrease in the cost of COMP, the Balancer platform, which provides crypto lending services from a pool of various ERC20 tokens, began distributing 145,000 native BAL tokens to liquidity providers every week. These tokens, like COMP, provide the right to participate in the management of the platform. Of the maximum possible issue of BAL 100 million, 65% will go towards payments.

Risks of Yield Farming

Despite the popularity of Yield Farming among DeFi players, this trend is not without its pitfalls. For example, Ethereum co-founder Vitalik Buterin continues to criticize DeFi, stating that “interest rates that are significantly higher than you can get when working in the field of traditional finance are either an opportunity for temporary arbitrage or are obtained at the expense of not publicly disclosed risks.”
Indeed, when using Yield Farming, the following risks should be borne in mind:
• Cryptocurrencies can be stolen from the platform they are hosted on.
• The participant may borrow too much funds in relation to the crypto deposit placed by him (trading with high leverage), as a result of which the collateral may be lost.
• The collapse of cryptocurrency rates. This factor can be realized if, for example, it turns out that some stablecoins in reality do not have the declared 1:1 collateral.
• The Compound platform will no longer reward borrowers and lenders with COMP tokens. According to the statements of the project team, the program will operate over the next four years — during this time 42% of the total token emission will be distributed. However, the site has the right to change the rules.
• Systemic risk, within which even small changes in the core principles of Yield Farming can provoke a very strong transformation of this strategy and affect its popularity.
• Scam tokens. Due to the simple asset listing system on the Uniswap site, assets such as a copy of the Balancer token, fake coins of the Curve Finance project, the DYDX token, which can be confused with dYdX, and the Uniswap Community Token, which is not related to the platform itself, appeared on it. As a result, the site issued a warning about an increase in the number of fake ERC20 tokens.

Yield Farming gives hope for the growth of cryptocurrency quotes

But how does Yield Farming affect the crypto market in general? Over the last week of June and the first ten days of July, an additional 2,430 bitcoins were added to Compound, in addition to the 170 already available at that time. The Balancer platform during the same time saw an influx of bitcoins from 126 to 1787. In total, for the implementation of Yield Farming, DeFi protocols are now more than 12,000 BTC. Potentially, an increase in the inflow of bitcoins into this sector of the cryptocurrency market can play a positive role in relation to the dynamics of the growth of quotations of the first cryptocurrency. After all, the growing popularity of Yield Farming supports interest in BTC, which is especially important given that in July, the turnover of this cryptocurrency trade fell by 31% compared to June.
Since most of the DeFi projects are based on the Ethereum blockchain and use the assets of this ecosystem, ether can potentially get an incentive for strong growth. Although the example of XRP and the development of innovations from Ripple shows that such market success is not guaranteed. It is also symbolic that the total capitalization of ERC20 tokens has reached $33 billion, exceeding the total capitalization of ether ($26.6 billion). Messari analyst Ryan Watkins, commenting on this data, said that ether has shown a very modest growth over the past two months, only 20%.
The continued growth in interest in stablecoins and the increase in trading volume with them is also driven by their popularity at Yield Farming. Along with this, stablecoins, which have long become a “bridge” between the world of classical finance and the cryptosphere, also contribute to the rapid emergence of various CBDCs on the market.

Yield Farming meets institutional investors

Yield Farming has become a natural stage in the evolution of the cryptocurrency ecosystem. However, its further destiny, like all DeFi areas, is directly related to ensuring reliable cybersecurity. This is also important from the point of view of investors who invest in infrastructure: it’s a shame, for example, that the dForce platform faced the theft of $24 million in assets, having received $1.5 million in funding from investors a few days earlier.
In this connection, venture funds from Silicon Valley are being invested in the development of infrastructure for Yield Farming. So, ParaFi is investing $4.5 million in Aave, supporting a platform that offers instant cryptocurrency loans without collateral. These are high-risk transactions for the borrower, but it is important that Aave develops further. So, it has service integration with Uniswap. Moreover, Aave became the first DeFi protocol to work with the Tether stablecoin. Plus, the platform now offers a new product — credit delegation, when a depositor can lend their assets to a specific member of the platform in a collateral-free scheme. Both parties enter into a loan agreement, which, thanks to the integration of Aave with OpenLaw, allows such a contract to be securely stored on the blockchain. In fact, this is a real exit for DeFi with Yield Farming to the classic financial market, to work with institutional investors as well.
There is also a trend towards the integration of various platforms into DeFi, which thereby help each other grow. Thus, internal tokens and “synthetic” tokens (cTokens) Compound began to be used in Uniswap. And three projects at once — Synthetix, Curve and Ren — launched a joint pool providing liquidity in the form of tokenized bitcoins.
Also in a short period of time, insurance products targeted at Yield Farming members, such as Nexus Mutual, began to appear on the market. Now the Nexus Mutual team has insured assets in the amount of $8.5 million. Curve Finance is most interested in this opportunity ($1.6 million of assets are insured). Cryptocurrencies for an average of $700,000 are also insured on the Balancer, Compound, Aave and 1inch.exchange platforms.
Yield Farming, along with decentralized insurance products, confirms the opinion of analyst Chris Burniske, who emphasized that DeFi recreates all the elements that are found in classic finance, but on a new, innovative basis. So it cannot be said that Yield Farming is a short-term trend. This segment of the cryptosphere will continue to evolve despite the decline in net margin in it, as seen in the example of Compound.
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STATERA

STATERA
…a smart contract deflationary token within a portfolio of selective coins/token built on the Ethereum blockchain.
INTRODUCTION
BLOCKCHAIN TECHNOLOGY IS CHANGING, DEFI IS EVOLVING! Blockchain technology is changing the World forever, over the past decade, the introduction of blockchain technology to the world and especially the world finance system has proven how convenient and secured the World's finance system can be. Blockchain has proven its' worth to be an essential tool in the world finance system. Varying from a different mode of transaction to the flexible usage of it.
The Ethereum blockchain has played and still playing a significant role in Blockchain finance evolution. With over a hundred projects out there, each aiming and claiming to solve the problem of financing system in the world, Decentralized Finance DeFi has proven to play an essential role in this regard.
Deflationary Projects arise amidst the flow of developers developing ways of making a project unique and scarce through constant reduction of total supply during a transaction. Over the past few years, many projects attempted this approach, however, they failed to achieve this goal as a result of the unsustainability of the project, or the utter intent of some of the developers to scam people of their money. Nevertheless, previous deflationary cryptocurrency attempts have proven the fact that this method alone will not make a project unique or scarce. Hence, a few projects attempted to apply other interesting features to their deflationary projects, some of which are discussed briefly below.
DEFALTIONARY PROJECTS
Through a constant reduction of total supply as a result of a certain percentage of each token transaction sent to 0x address, a deflationary project aims to reduce its total supply to make it scarce, thus increasing the demand and value of the project.

BOMB
The first project to start this on-chain action was BOMB token. With every transaction on BOMB, 1% of the supply is sent to 0xaddress and lost forever, this is known as BURN. Unfortunately, this didn't work for a long time as anticipated, turns out it takes a project more than just that to make it demanding. In light of this, a few other deflationary projects decided to add extra features to its deflationary attribute.

SHUF
A good example of this is another deflationary project called Shuffle Token (SHUF) burn 1% on every transaction, and randomly send another 1% to any of the top 512 holding addresses, this second feature is known as Heap.

BSOV
The third example of a deflationary project with an extra feature is BitcoinSov (BSoV). This deflationary project also has a 1% burn, but its extra feature is mining. This is the only mineable deflationary project in existence as of today.

RTK
The last example is Ruletka (RTK). Ruletka is an experimental ERC20 token, it was developed in the small town of Alatyr in Russia. When a transaction is made using RTK a number is chosen between 1 and 6. If 6 is chosen, the coins in the transaction will be sent to the 0x address and burned. It was developed based on the legend Russian Roulette life gambling game.
Regardless, deflationary projects are yet to receive the world's attention as most of them struggles to be sustainable.
INDEX FUND
For the past two years, Decentralized Finance or DeFi has been undergoing a series of changes and development. DeFi is aimed at providing solutions to the challenges being faced by traditional financial systems using Etherium blockchain as its primary station.
What is Index Fund?
Investopedia.com described index funds as a type of mutual fund with a portfolio constructed to match or track the components of a financial market index, providing broad market exposure with low operating expenses and low portfolio turnover.
Market Index
A hypothetical portfolio of investment holdings representing a segment of the financial market. The calculation of the index value comes from the prices of the underlying holdings. Investopedia. 2017 was a significant year for crypto, however, was succeeded by the extended bear market. The long bear market made it difficult for investors to select which market they are to invest in. since the rise of the crypto market, it has been experiencing a series of ups and downs, making it difficult, especially for retail investors to select the market they are to invest in. the idea of index market in the blockchain industry is something not usually mentioned, while most investors preferred to long or short on BTC or other Alts.
CRYPTOCURRENCY INDEX FUND
Late 2019 and early 2020, cryptocurrency index funds are becoming an item of discussion and interest in the cryptocurrency investment world. A cryptocurrency index fund prevents an investor from the stress of constant or active management of their crypto fund portfolio.
They help spread risks by diversifying an investment across a broad selection of coins, protected from the crypto market volatility. This means your fund is being handled for you, which of course necessitates a form fee. While fees vary from one index fund manager to the other, the differences in fees don't guarantee the performance of one manager over the other. Among the popular cryptocurrency index funds that are currently available on the market as of 2020 includes:

  1. Coinbase Index Fund
  2. BB Index
  3. Iconomi
  4. CBI Index 7 (CBIX7).
Note: this article does not prescribe an index fund or tokens for readers to invest in, rather make your research before investing.
INDEXED-DEFLATIONARY TOKEN
The idea behind an indexed deflationary token is to keep cutting the circulating supply on a transaction basis, coupled with an investment in diverse selective coins on the Ethereum blockchain market.
Using balancer, the idea is to have a deflationary token inside a pool with other assets for example; USDC, ENJ, LINK, KNC, etc. along with the deflationary token itself, all of which are in one pool. When the token is bought, it will automatically re-balance into other sets in the pool, increasing the trade volume and at the same time burning. A mix of index/portfolio token with a deflationary token.

STA
STATERA [STA]
Statera, in Latin, means Balance. STA is a smart contract deflationary token within a portfolio of selective coins/token built on the Ethereum blockchain. The index portfolio includes four Volatile markets and three Stable markets; ETH, MKR, SNX, LINK, DAI, SUSD, DZAR. Leaving STA with 70% volatility and 30% stability. STA is built on a smart contract, holding all the funds including STA itself.
When STA is purchased with ETH, ETH is spread into the weight in the portfolio and STA purchased gets removed from the index amount. The index suit is not fixed, i.e. the coins in the portfolio can be easily replaced should in case the market demand for a change.
The index also charges a fee. Every time a trade is executed through it (not a purchase of STA this time around, but swapping DAI for ETH for example), 1% stays behind and is shared between the portfolio. With the deflationary attribute of STA, the more trades that occur, the more valuable it becomes. The idea is that a price difference will lead to auto-balancing, which means burning. There you have it, An Index-Deflationary Token.
STATERA [STA] TOKEN INFORMATION
Total Supply: 100, 000, 000.
Burn rate: 1% on each transaction.
Blockchain: Ethereum.
Website: Coming Soon.
Community: Telegram Twitter
Contract address: Etherscan
Portfolio address: Zerion
Current exchange: 1inch Exchange
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The Retrospect and Prospect of the Crypto Economy——The Development and Evolution of the Consensus Mechanism (Three)

The Retrospect and Prospect of the Crypto Economy——The Development and Evolution of the Consensus Mechanism (Three)

https://preview.redd.it/45wwtygv2rc51.png?width=567&format=png&auto=webp&s=a5f51ea3c620d478231c39e32f198eb64d801897
Foreword
The consensus mechanism is one of the important elements of the blockchain and the core rule of the normal operation of the distributed ledger. It is mainly used to solve the trust problem between people and determine who is responsible for generating new blocks and maintaining the effective unification of the system in the blockchain system. Thus, it has become an everlasting research hot topic in blockchain.
This article starts with the concept and role of the consensus mechanism. First, it enables the reader to have a preliminary understanding of the consensus mechanism as a whole; then starting with the two armies and the Byzantine general problem, the evolution of the consensus mechanism is introduced in the order of the time when the consensus mechanism is proposed; Then, it briefly introduces the current mainstream consensus mechanism from three aspects of concept, working principle and representative project, and compares the advantages and disadvantages of the mainstream consensus mechanism; finally, it gives suggestions on how to choose a consensus mechanism for blockchain projects and pointed out the possibility of the future development of the consensus mechanism.
Contents
First, concept and function of the consensus mechanism
1.1 Concept: The core rules for the normal operation of distributed ledgers
1.2 Role: Solve the trust problem and decide the generation and maintenance of new blocks
1.2.1 Used to solve the trust problem between people
1.2.2 Used to decide who is responsible for generating new blocks and maintaining effective unity in the blockchain system
1.3 Mainstream model of consensus algorithm
Second, the origin of the consensus mechanism
2.1 The two armies and the Byzantine generals
2.1.1 The two armies problem
2.1.2 The Byzantine generals problem
2.2 Development history of consensus mechanism
2.2.1 Classification of consensus mechanism
2.2.2 Development frontier of consensus mechanism
Third, Common Consensus System
Fourth, Selection of consensus mechanism and summary of current situation
4.1 How to choose a consensus mechanism that suits you
4.1.1 Determine whether the final result is important
4.1.2 Determine how fast the application process needs to be
4.1.2 Determining the degree to which the application requires for decentralization
4.1.3 Determine whether the system can be terminated
4.1.4 Select a suitable consensus algorithm after weighing the advantages and disadvantages
4.2 Future development of consensus mechanism
Last lecture review: Chapter 1 Concept and Function of Consensus Mechanism plus Chapter 2 Origin of Consensus Mechanism
Last lecture review: Chapter 3 Common Consensus Mechanisms

Chapter 3 Common Consensus Mechanisms (Part 2)
Figure 6 Summary of relatively mainstream consensus mechanisms

https://preview.redd.it/2yepvjjy2rc51.png?width=567&format=png&auto=webp&s=acaed31fa6106ac2f501fe2cb284f66bb2258a0e
Source: Hasib Anwar, "Consensus Algorithms: The Root Of The Blockchain Technology"
The picture above shows 14 relatively mainstream consensus mechanisms summarized by a geek Hasib Anwar, including PoW (Proof of Work), PoS (Proof of Stake), DPoS (Delegated Proof of Stake), LPoS (Lease Proof of Stake), PoET ( Proof of Elapsed Time), PBFT (Practical Byzantine Fault Tolerance), SBFT (Simple Byzantine Fault Tolerance), DBFT (Delegated Byzantine Fault Tolerance), DAG (Directed Acyclic Graph), Proof-of-Activity (Proof of Activity), Proof-of- Importance (Proof of Importance), Proof-of-Capacity (Proof of Capacity), Proof-of-Burn ( Proof of Burn), Proof-of-Weight (Proof of Weight).
Next, we will mainly introduce and analyze the top ten consensus mechanisms of the current blockchain.
》DBFT
-Concept:
Delegated Byzantine fault tolerance. The improved Byzantine fault-tolerant algorithm makes it suitable for blockchain systems. The system consists of nodes, delegators (who can approve blocks), and speakers (who proposes the next block). It is a consensus algorithm that guarantees fault tolerance implemented inside the NEO blockchain.
-Principle:
In this mechanism, there are two participants: the professional bookkeeper "bookkeeping node" and the ordinary users in the system.
Ordinary users vote based on the proportion of holding stake to determine the bookkeeping node. When a consensus is required, a spokesperson is randomly selected from these bookkeeping nodes to draw up a plan, and then other bookkeeping nodes will vote basing on the Byzantine fault tolerance algorithm.That is, majority principle. If more than 66% of the nodes agree to the spokesperson’ plan, a consensus is reached; otherwise, the spokesperson is re-elected and the voting process is repeated.
-Representative application: Neo, etc.
》PoA
-Concept:
Proof of authority. That is, certified by some accredited accounts, these accredited accounts are called "validators". The software that the verifier runs that supports the verifier to place transactions in blocks.
-Principle:
Three conditions:
  1. The identity must be formally verified on the chain, and the information can be cross-verified in a publicly available domain;
  2. The qualifications must be difficult to obtain, so that the rights of the verification block obtained are precious enough;
  3. The authoritative inspection and procedures must be completely unified.
With PoA, every individual has the right to become a verifier, so there is an incentive to maintain the position of the verifier once acquired. By attaching a reputation to the identity, the verifier can be encouraged to maintain the transaction process. Because the verifier does not want to gain a negative reputation, it will lose its hard-won verifier status.
-Representative applications: VeChain, etc.
》DAG
-Concept:
Directed acyclic graph. Each newly added unit in the DAG is not only added to the long chain block, but added to all the previous blocks, verifying each new unit and confirming its parent unit and the parent unit of the parent unit, and gradually confirming until the genesis unit. As the hash of its parent unit is included in its own unit, the blockchains of all transactions are connected to each other to form a graph-like structure with time.
-Principle:
In the DAG network, each node can be a trader and a validator, because the transaction processing in DAG is done by the transaction node itself. Taking IOTA as an example, IOTA’s Tangle led
ger does not need to pay transaction fees while ensuring high-speed transaction processing. However, it does not mean that the transaction is free, because in this ledger, the initiation of each transaction needs to verify the other two random transactions first, and connect the transaction initiated by itself to these two transactions, so the responsibility that miners on the blockchain bear is distributed to all traders. The DAG method of processing transactions can be called asynchronous processing mode.
Figure 10 The difference between the traditional blockchain structure and the DAG structure

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-Representative applications: IOTA, etc.
》PoET
-Concept:
Proof of elapsed time. That is, it is usually used in a permissioned blockchain network. It can determine the mining rights of the block holders in the network. The permissioned blockchain network requires any prospective participants to verify their identity before joining. According to the principles of the fair lottery system, each node is equally likely to become the winner.
-Principle:
Each participating node in the network must wait for a randomly selected period, and the first node to complete the set waiting time will get a new block. Each node in the blockchain network will generate a random waiting time and sleep for a set time. The node that wakes up first, that is, the node with the shortest waiting time, wakes up and submits a new block to the blockchain, and then broadcasts the necessary information to the entire peer-to-peer network. The same process will be repeated to find the next block.
Two factors:
  1. Participating nodes will naturally select a random time in nature, rather than deliberately;
  2. The winner did complete the waiting time.
-Representative application: HyperLedger Sawtooth, etc.
》PoSV
-Concept:
Proof of stake velocity. Proposed by Reddcoin, drawing on the concept of "money circulation speed" in economics, it mainly allocates bookkeeping rights based on the coin age of nodes participating in the competition.
-Principle:
PoSV also allocates accounting rights according to the coin age of the nodes participating in the competition, but modifies the coin age calculation formula to a function of exponential decay of growth rate. Taking Reddcoin as an example, Reddcoin sets the half-life of the coin age growth rate to 1 month. Assuming that the unit token can accumulate 1CoinDay coin age on the first day, only 0.5CoinDay coin age can be accumulated on the 31st day, and only 0.25CoinDay coin age can be accumulated on the 61st day, and so on. In this way, the nodes are encouraged to use the token to conduct a transaction after holding the token for a period of time, thereby restarting the calculation of the coin age and increasing the circulation speed of the token in the network.
-Representative applications: Reddcoin, etc.
Table 2 Comparison of the advantages and disadvantages of current mainstream consensus mechanisms

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Source: network resources
Chapter 4 Summary of the Selection and Status Quo of Consensus Mechanism
4.1 How to choose a consensus mechanism that suits you
Step 1: Determine whether the final result is important
For some applications, the end result is very important. If you are building a new payment system that can support very small amounts, it is acceptable for the transaction result to change. Similarly, if you are creating a new distributed social network, 100% guarantee that the status is updated immediately is not particularly necessary. On the contrary, if you are creating a new distributed protocol, the final result is critical to the user experience. For example, Bitcoin has a final confirmation time of about 1 hour, Ethereum has a final confirmation time of about 6 minutes, and Tendermint Core only has a final confirmation time of 1 second.
Step 2: Determine how fast the application process needs to be
If you are building a game, is it reasonable to wait 15 seconds before each action? Due to the low block processing time of Ethereum, games built on it will cause poor user experience due to Ethereum's throughput. However, the application for the transfer of housing property rights can be run on Ethereum. Use the Cosmos SDK to build an application that allows developers to freely use Tendermint Core. It has a short block processing time and high throughput, and is capable of processing 10,000 transactions per second. You can reduce the required communication overhead and speed up the application by setting the maximum number of validators for the application.
Step 3: Determine the application's demand for decentralization
Some applications such as games may not require very high censorship resistance as a by-product of decentralization. In theory, does it really matter that the validator can create a cartel in the game and reverse the transaction result for profit? If it is not important, a blockchain such as EOS may be more suitable for your needs because of the fast transaction speed and free fees. However, some applications such as autonomous banks are more powerful and decentralized. Although Ethereum is considered to be decentralized, some supporters claim that Ethereum's mining pool is an important part of centralized platform, although there are actually only 11 validators (mining pools). One of the major benefits of building your own blockchain instead of building on a smart contract platform is that you can customize the way the application completes verification. However, it is difficult to build your own blockchain, so the Cosmos SDK is very useful, you can easily build your own blockchain and customize the degree of decentralization you need.
Step 4: Determine whether the system can be terminated
If you are building a new application similar to a distributed ride-sharing service, then ensuring 24/7 service must be the first priority, even if there are occasional errors in accounting similar to transactions. One of the properties of Tendermint Core is that if there is a disagreement between network validators, the network will suspend operations instead of proceeding erroneous transactions. Applications such as decentralized exchanges require correctness at all costs-if there is a problem, it is far better to suspend trading on the decentralized exchange than there may be trading problems.
Summary: Choose a suitable consensus algorithm after weighing the advantages and disadvantages
All in all, there is no single best consensus algorithm. Each consensus algorithm has its own value and advantages. You need to have your own judgments and choices. However, by understanding the relevant processes of the consensus mechanism, including proposals and agreements, and establishing a framework to consider the types of consensus algorithms that your application may require, you should be able to make wiser decisions.
4.2 Future development of consensus mechanism
The consensus algorithm is one of the core elements of the blockchain. Although there are more than 30 consensus mechanisms listed in the article, there are still many niche consensus mechanisms that may not be discussed. As the blockchain technology is gradually known and accepted by the public, more and more newer and better consensus algorithms may appear in the future, which may be brand-new consensus algorithms, and more should be improvement and optimization version based on the current consensus algorithm.
After 2016 and 2017 years’ fast development, the current consensus algorithm does not have a recognized evaluation standard, but is generally more biased towards fairness and decentralization, as well as some technical related issues, such as energy consumption and scalability , Fault tolerance and security, etc. However, blockchain technology must be combined with requirements and application scenarios, and the consensus mechanism algorithm and incentive mechanism are inseparable. How to customize a suitable consensus mechanism according to the characteristics of your own project and optimize the current consensus mechanism will become the future direction of consensus mechanism development
CelesOS
As the first DPOW financial blockchain operating system, CelesOS adopts consensus mechanism 3.0 to break through the "impossible triangle", which can provide high TPS while also allowing for decentralization. Committed to creating a financial blockchain operating system that embraces supervision, providing services for financial institutions and the development of applications on the supervision chain, and formulating a role and consensus ecological supervision layer agreement for supervision.
The CelesOS team is dedicated to building a bridge between blockchain and regulatory agencies/financial industry. We believe that only blockchain technology that cooperates with regulators will have a real future. We believe in and contribute to achieving this goal.
📷Website
https://www.celesos.com/
📷 Telegram
https://t.me/celeschain
📷 Twitter
https://twitter.com/CelesChain
📷 Reddit
https://www.reddit.com/useCelesOS
📷 Medium
https://medium.com/@celesos
📷 Facebook
https://www.facebook.com/CelesOS1
📷 Youtube
https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
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Benefits of Blockchain Technology in the Banking Industry

Benefits of Blockchain Technology in the Banking Industry
Link to original article: https://block.co/benefits-of-blockchain-technology-in-the-banking-industry/
The rapidly growing interest around blockchain is creating an increased amount of use cases across multiple industries, and a high demand for adoption by many governments. Banking, financial services, and insurance (BFSI) industry is predicted to be drastically transformed by this disruptive technology. According to Allied Market Research 2019, the blockchain value in the BFSI market reached $277.1 million in 2018 and is projected to reach $22.46 billion by 2026. Blockchain technology has the potential to solve the pain points of the current banking systems and operations including security, transparency, trust, privacy, programmability, and performance.
What is Blockchain?
Blockchain is the technology behind the Bitcoin cryptocurrency, that was proposed by Satoshi Nakamoto in 2008, as a response to the failing financial system during the crisis. It is often associated and confused with Bitcoin, but the scope of the technology is much wider. It is also important to differentiate between the Distributed Ledger Technology (DLT) and blockchain, as the terms often used interchangeably. All blockchains are DLT, but not all DLTs are blockchains. DLT is simply a decentralized database managed on a peer-to-peer basis.
“Blockchain is a type of DLT, a subcategory of a more broad definition, much like how the word ‘car’ falls under the umbrella term ‘vehicles’ and ‘Satoshi Nakamoto’ falls under ‘geniuses’.”
In essence, blockchain is a continuous sequential chain of records (‘blocks’) that are chronologically linked together with the aid of cryptography, to ensure immutability. These records are immutable, as any change to the information recorded in a particular block is stored in a new block. Moreover, the use of modern encryption algorithms enables the security of all the records from copying or editing by other users of the system. Blockchain can be programmed to record not only financial transactions as cryptocurrency but almost anything of value (Deloitte Insights, 2019).

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How Blockchain Can Improve Banking Industry?
The modern banking system is not perfect and commercial banks have not changed a lot to their servicing structure since the 1970s (Haycock & Richmond, 2015). Running a bank still requires large numbers of the workforce, reliance on quite outdated systems, bloated structures with high probabilities of human error, and manual work. There are several aspects, which could be improved by the application of blockchain technology in banking operations:
1) Security Enhancement
In the UK the overall value of the financial fraud losses (e.g. payment cards, remote banking, cheques) equaled £844.8 million in 2018. The situation is even worse in the US — $170 billion average yearly losses in the financial sector. According to KPMG’s Global Banking Fraud Survey 2019 the total volume, number, and value of the fraudulent activities are drastically increasing every year.
The nature of banking operations dictates the need for centralized systems, which proved to be vulnerable and subject to cyber and hack attacks. Now, the blockchain is immutable as it operates on the principles of decentralization and transparency, and all the network participants get an identical copy of the distributed ledger of transactions. Thus, if applied in banking, blockchain can increase the validity and security of the financial transactions, eliminate the need for third-party authentication, and solve the issue of a single point of failure and hacks.
Moreover, since each transaction on the blockchain has its unique fingerprint (hash) it can be easily traced and verified. Such functionality makes blockchain a great tool to combat money laundering and reduce fraudulent or illegal transactions (Guo & Liang, 2016).
2) Improving Financial Transactions Efficiency
As we mentioned previously, the utilization of obsolete mechanisms and operational systems slows down the performance of banking institutions and provides ground for human error, delays, and system failures. All these inefficiencies could be solved by applying blockchain technology. Take for example the time-consuming bilateral exchange. The process of data reconciliation needed for it could be simplified, as on the blockchain, it is inherently part of a transaction (IBM, 2016).
Blockchain and its decentralized nature eliminate intermediaries in banking operations, which significantly cuts transaction costs and boosts efficiency (Cocco et al., 2017). Blockchain does not require intermediaries, enables cross-border transfers and micro-payments, while drastically decreasing operational costs. Such transactions in the traditional banking environment are expensive (from 1% of the amount), and constitute a huge expense on a global scale. In cryptocurrency networks, transfers may range from a few minutes down to milliseconds, and the transaction fees are decided by the market forces, meaning users have the option to set their transaction fees (Deloitte, 2017).
3) Workflow Simplification
Blockchain can simplify the current complex workflow in banking institutions. As any operation can be traced, the ability to automate processes significantly reduces costs and the need for manual work. Moreover, it is impossible to make retroactive changes on the blockchain. This guarantees data immutability and excludes the human factor, thus the probability of error, data tampering, or even leakage. Using blockchain in banking operations will digitize and automate tons of manual work, greatly boost the productivity of the financial institutions and eliminate the probability of mistakes, delays, and errors.
4) Enhanced KYC & AML
Some financial institutions find it difficult to deal with problems related to policies such as Anti-Money Laundering (AML) and Know Your Customer (KYC). Numerous organizations are not able to solve these problems, due to the rapidly escalating costs. The adoption of the blockchain technology will enable the creation of a system where all clients’ information may be stored safely, making the independent verification an easy process or even automated securely. In this way, both AML and KYC processes will become simpler and easier, as all involved organizations will share the same system and the information will be updated in real-time, perhaps through the use of Digital Identities. In addition to this, blockchain technology will assist the organizations to minimize their administrative costs and reduce the workload.

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5) Smart Contracts
Smart contracts are an innovative development of blockchain technology which enables for time and resources saving, as they do not require a third-party interaction. Traditional contracts do not differ a lot from smart contracts, however, their key benefit is that obligations are automatically enforced and cannot be avoided by anyone.
When smart contracts are integrated with blockchain technology, we enjoy benefits such as security, automation, immutability, and transparency. The integration of smart contracts in the financial sector will provide opportunities for transparent auditing and real-time remittances. Traditional contracts are paper-based and require financial institutions to invest money in paperwork and maintain records. These records can be easily manipulated as they are on paper. Smart contracts offer bank tools for bookkeeping based on blockchain. Smart contracts have already been applied to the financial industry to gain greater automation.
6) Decentralized Finance
Another application of blockchain is Decentralized Finance, also known as DeFi. This application is at an early stage but its disruptiveness enables millions of people across the world to have access to financial services. DeFi refers to decentralized applications, financial smart contracts, digital assets as well as protocols popular as DApps, which are built on public blockchains such as Ethereum and Bitcoin. The aim of DeFi is the creation of a decentralized financial system that will not depend on the traditional banking system.
Decentralized Finance offers numerous benefits to the users as it eliminates middlemen, enables everyone who does not has access to financial services to enter the global economy as it is a permission-less technology, and enables innovation with the combination of DeFi products. Besides, the use of decentralized finance increases the symmetry of information and democratizes financial services in this sense. The evolution of DeFi over the years means that most people around the world are only limited by their imagination when considering how to gain benefits from the financial ecosystem. However, there are still many complexities that need addressing to further expand the full extent of the possibilities of DeFi.
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submitted by BlockDotCo to u/BlockDotCo [link] [comments]

Equilibrium May Summary

In spite of quarantines and worldwide slowdown, Equilibrium has kept up to speed in May. We were active with PR in several podcasts and an AMA. Our governance system is developing fast, with numerous top names joining the system. We have launched our staking pool, a powerful instrument that offers users passive income. Finally, we are excited to have launched the Equilibrium testing team, in which you, our community, take the lead role!

Launch of our staking pool

Our staking pool lets you earn predictable interest on EOS and NUT, and now, also on EOSDT. The interest rate earned on EOSDT depends on the total amount of EOSDT already staked to the contract, the fee sent to the smart contract, the total outstanding EOSDT, and the amount of EOSDT the user deposits to the staking pool. The more EOSDT you stake, the more interest you earn on it. You can read about examples of how you can predict your earnings here.

Major industry players join our governance

Several major players have joined Equilibrium’s governance system. They include: Binance, eosfinex, EOS Nation and EOS Cannon. Each of these well-known companies are now part of the approval process for EOSDT contracts before those contracts are released. The smart contracts behind EOS-based DeFi applications are changeable and upgradeable for the sake of future-proofing these services. Thanks to this feature of EOSIO, DApp upgrades can happen seamlessly without requiring painful migrations to a completely new set of contracts as is the case on other platforms like Ethereum. Equilibrium’s governance system only allows code to be updated if there are multiparty signatories. This is key to ensure decentralization and prevent a single point of failure. We are honored to welcome such prominent participants to our ecosystem.

AMA Session with MyKey wallet on Bihu

MyKey wallet invited our CEO Alex Melikhov to feature one of our top innovations: “DeFi Hub in your crypto wallet: multiple options to get passive income”. As you know if you own EOSDT, letting your money work for you is one of our main advantages. There are several ways to do this. You can read about lending to earn passive yield on the Equilibrium website.

Q&A with the pTokens community

In another media event, Alex Melikhov met with the pTokens(pBTC) community for a podcast. pTokens are the ERC-20 token version of other, non-Ethereum blockchain currencies that enable liquidity to freely move from one blockchain to another. We have recently entered a cross-chain partnership with pTokens, launching support for Bitcoin collateral. Podcast topics included: the advantages of EOS as a platform for building high-powered DeFi apps above and beyond Ethereum, our plans for listings on major exchanges, and our stability fund, the first defi insurance policy to minimize user risk by guaranteeing funds. You can watch the podcast with pTokens here.

Podcast with Greymass

Yet another podcast with Greymass — a platform that curates world-class B2C experiences — featured Alex Melikhov on Equilibrium as the leading defi liquidity project on EOS. The discussion focused on our stablecoin as the key element in defi ecosystems, the advantages of staking for our tokenholders, Equilibrium’s growth in Asia and the geographical distribution of our clientele, offered a peak at new products including plans for our liquidity pool, and explained our innovative portfolio leveraging in one single transaction.

First governance proposal on Equilibrium

Equilibrium has now confirmed its first governance proposal, which has raised our stablecoin fee to 1,8% APR. Changes in stablecoin fees affect the supply side by targeting its generation and payback intensities, while the rewards from the EOSDT savings contract affect the demand side by offering a “risk-free” return on EOSDT’s stake. Defending the peg becomes especially important as Equilibrium prepares for forthcoming listings of EOSDT on major exchanges and the opening of new markets, which will increase liquidity and EOSDT trading volumes. This proposal is an important milestone for Equilibrium EOSDT because it marks a big step in the evolution of its decentralized governance process.

Equilibrium’s testing team

At Equilibrium, our most important collateral is our community. You are essential to the development of our ecosystem, and we want to have as much ‘end-user feedback’ as possible. That’s why we are calling for our community members to join the product testing team. If you would like to join, you can connect a wallet, test specific cases and workflows, the user-oriented Equilibrium.io DeFi hub (web application) — we’d love to get your feedback! — and create EOS/BTC positions. Find out how you can participate and earn NUT.
Source: https://medium.com/equilibrium-eosdt/equilibrium-may-summary-5f81f11566ef
submitted by BTCfan234 to eos [link] [comments]

Recap of Binance English Kava AMA (May 2020)

This AMA was conducted within the Binance English Telegram channel prior to Kava's June 10th launch of its DeFi Lending Platform.

Q1:

Can you give us a little history of KAVA?

Q2:

Could you please tell me what KAVA cryptocurrency is? What problem does it solve?

  • Answer - KAVA is the staking, governance, and reserve asset of the Kava DeFi platform. KAVA is required by node operators to secure transactions on the blockchain. Additionally, when lending fees are paid, they are converted to Kava and burned reducing the overall supply of KAVA tokens. As more users use the Kava lending platform, KAVA should become more scarce overtime.

Q3:

What is the advantage of keeping the KAVA token for a long and short term?

  • Answer - In the short term, if you stake KAVA you can earn additional block rewards every day, block by block. This provides a nice steady return on the Kava usually in the range of 3-20% depending on the number of people staking.
  • We will be opening the gates of DeFi to many top tier assets such as BNB, XRP, ATOM, and BTC which have never been able to use lending, stablecoins, or other DeFi Services. If you are a KAVA hodler you can benefit from owning and having a stake in the network as we grow because as the network grows, Kava is burned and it becomes more scarce as a resource.

Q4:

Chainlink is KAVA’s partner, can you explain more about this partnership?

  • Answer - Yes, this is not the usual chainlink partnership where a blockchain consumes data from Chainlink’s oracle solution.
  • No oracle solution adequate for DeFi applications on Cosmos was available. For this reason, Kava has teamed up with Chainlink to bring its data and reliable oracle solution to the Cosmos ecosystem. Chainlink nodes now will be able to securely publish data directly on the Kava blockchain where it can be used or easily transported to other Cosmos-based blockchains and applications. Chainlink oracles on Kava utilize all the industry-leading technologies of Chainlink, while enabling more frequent price updates and improving the reach and distribution of where that data can be used.
  • Since Kava’s blockchain is built using Tendermint, Tendermint-based blockchains within the Cosmos ecosystem (Binance, Terra, OKChain, Cosmos Hub, Agoric, Aragon, and others) will now be able to retrieve market data such as cryptocurrency, FX, and commodity prices. For DEX’s like Binance this will enable them to create futures, options, and other derivative products they were not able to do so before.
  • TLDR: Kava + Chainlink Data creates the ideal hub for all blockchains and applications to get their DeFi services and Data, and as result makes Kava a natural hub for the growing Cosmos ecosystem.

Q5:

What is the KAVA CDP product? Do you have any exciting things down the pipeline that you can share?

  • Answer - First, let me clarify that CDP simply means “collateralized-debt-position” similar to CDOs that exist in the traditional finance world. What it means is a loan using collateral to back the loan.
  • Kava’s lending platform offers collateralized loans to users who have crypto. Getting a loan with Kava’s platform is great if you don’t want to sell your crypto position, but need short term cash for payments or if you want to use the loan to get a levered / margin position without going through KYC.
  • As for news! Kava’s lending platform is scheduled to officially launch on the mainnet June 10th.
  • At this time, DeFi will be made available to BNB for the first time ever. Also at this time, the Kava DeFi platform will be awarding the first users that have BNB extremely high rewards for being early adopters.
  • Each week, 74,000 KAVA will be given out to all the users who have taken out loans on Kava. Yes, you get free KAVA, for taking out a loan using BNB!
  • If you want to participate, you can learn more about how to do it here!
  • Medium

Q6:

Why should BNB users use KAVA’s lending platform and take out USDX? And how to mint USDX with BNB on KAVA CDP?

  • Answer - Free- maybe let's call it rewards for being good users 😉
  • The rewards are platform growth incentives so that we can grow the platform quickly.
  • Well at launch, definitely the KAVA rewards are a huge reason for BNB users to use it.
  • As for the product long-term, the major use case for our lending platform is to get a levered position without needing an exchange or to go through KYC.
  • How it works is that a BNB holder can deposit their BNB and take out USDX loans - this capital they will take and buy more BNB with it. Most people will use the loan this way to get 2-3x the original BNB amount. If the price goes up on BNB, they win 2-3x the gains!
  • Of course if the price goes down and they cannot repay their loan, the BNB collateral might get liquidated, so be careful, it works just like a margin trading account.

Q7:

Brian do you have any more information or links for our community about this?

Q8:

KAVA was initially planned to launch on Ripple network but later switched to Cosmos Tendermint Core. [email protected] is that something you see in Tendermint Core that is not available anywhere?

  • Answer - For clarification, Kava was never planned to be on Ripple. However, Ripple is a Kava investor, shareholder, and partner.
  • We selected the Cosmos-SDK featuring the Tendermint BFT consensus because during our past work with Ripple, MakerDao, ETH, and other layer 2 work we learned the value of “finality” of blockchains. For example, on ETH, the finality of blocks do not happen right away. You need to reach 15+ blocks to be confirmed on Ethereum to really know a transaction has passed. This results in really slow user experiences that aren’t acceptable in finance or any application really.
  • Tendermint solves this because it makes every transaction final and occur in seconds.
  • Additionally, we chose the Cosmos-SDK as the framework to build our stand alone blockchain, Kava because it allowed us to create our own security model and design which enables Kava as a DeFi platform responsible for millions of dollars of collateral to be very secure in a way we could net get if we built it on any other network.

Q9:

KAVA does cross-chain support. Compared to other DeFi platforms, KAVA offer collateralized loans and stable coins to users too. How will volatility be managed there with so many different collateral systems in CDP?

  • Answer - Volatility is an important consideration and accurate and timely price reference data is needed to make sure the system works.
  • All the collateral positions rely on price feeds from oracles to determine if they are safe or need to be liquidated. Kava has created a novel partnership with Chainlink, where Chainlink oracles that normally run on Ethereum, operate nodes directly on Kava where they can post prices. This Kava to avoid network congestion, high gas fees, and other less desirable issues found on Ethereum, while enabling the oracles with Kava’s fast blocktimes and finality so they can actually deliver price updates 10-20x more frequently than is possible elsewhere. This makes Kava’s price feed data very reliable.
  • In times of volatility, if liquidations occur, the Kava platform automatically auctions collateral off for USDX on the market and burns the USDX. This mechanism keeps the system balanced and USDX algorithmically stable and always fully collateralized by real assets.
  • And it does this transparently, unlike the real world CDOs which caused the world issues in 2008 due to the lack of transparency in their assets and risk.

Q10:

Recently, Binance has released a white paper on BSC, a Binance smart chain. So, what can I get by staking through Binance Coin BNB?

  • Answer - Yay for smart contracts!
  • What can we get by staking bnb?
  • Staking BNB on Kava, or depositing it in a CDP and creating USDX from it earns users KAVA in rewards everyweek. A lot of rewards. In addition, you get USDX to hold which also pays out a savings rate each block that is much better than say what USD in a checking account could do.

Q11:

Various platforms are in Ethereum. So why is Kava not at Ethereum?

  • Answer - I could speak about this for ages, but there is a reason for Ethereum being the home to many hacks and bugs.
  • Kava is not on ethereum because we couldn’t build our system there. The main reasons. as I have mentioned are:
  • (1) Ethereum has congestion, oracle issues, high fees, and slow block times.
  • (2) Ethereum’s open smart contracting system can do anything. This is great for building crypto kitties, but horrible for financial software as it makes all code have infinite attack vectors that hackers can use which are impossible to test for. We built our own chain so we could scope the code and limit what attack vectors are possible.
  • (3) Building in solidity, the language of Ethereum, is horrible. The development environment is bad, testnets don’t work, and many other things are painful. Kava is primarily built in GO which is far superior for financial applications in most respects.
  • (4) The future is Cosmos. Binance, Okchain, terra, Cosmos Hub(ATOM), and Kava all are created using the Cosmos-SDK framework. I believe this is the future and the blockchain developers are moving to this in mass. Over 110 projects now are building with the Cosmos-SDK.

Q12:

What are ways by which Kava project generates profit/revenue to maintain project. What is your revenue model?

  • Answer - Kava is a for-profit financial DAO with over 80 different businesses staking Kava and voting on its evolution. They want to see Kava succeed so they vote to fund operations and developments that drive user growth in Kava. Due to fees paid in Kava and the burning mechanism, as the system grows in users, the Kava supply decreases making those that hold Kava win due to scarcity.

Q13:

Lending/Borrowing has been introduced by Binance. How can this affect the Kava since people can directly borrow BUSD from Binance with BNB used as collateral than going to Kava?

  • Answer - Kava will be featured on Binance as well. The main benefit of Kava is that there is no counterparty. The capital is minted on demand not sourced from somewhere. Binance and other centralized parties on the otherhand need to find capital to provide loans, creating a cost of capital. Kava is much more efficient at providing capital and avoids a lot of regulator issues.
  • I'll add I think BUSD in the future might be usable for collateral to Kava's loans as well. It would be cool 🙂

Q14:

What's your opinions on Future of DeFi & DApps? Do you think that DeFi is the future of current Financial world? Also, How do you see the future of KAVA?

  • Answer - I believe Centralized Finance and the existing infrastructure has a place. It has a lot of issues that cause things like the 2008 crisis and the current insolvency issues that are happening across the world due to trust-based debt with no actual backers other than the people which end up bailing out banks and other financial institutions that have made poor decisions.
  • DeFi's future is bright because it solves this fundamental issue. It removes trust and adds transparency. Kava is right at the foundation for all of DeFi as things grow and mature.

Q15:

Recently, we have seen some big hacks in DeFi platforms. How will KAVA deal with these bad actors of crypto and what security measures have been taken by KAVA for the safety of users' funds?"

  • Answer - Unlike a lot of DeFi startups, we take things seriously. We don't ""move fast and break things"" as Mark Zuckerberg would say.
  • We do a thorough analysis before suggesting to deploy code. Our internal team works very hard to run tests and simulations, once it passes internally, we give it to 3rd party auditors who try and game it and break the code. If it passes there, we give the code to the community to review and vote into the mainnet. In this way, I’d estimate about 100+ people review our code and test it before it goes live and consumers can touch it. I don't know many other project teams that due things with such diligence.

Q16:

Binance for KAVA is a very valuable partner in terms of increasing the number of users, but what is KAVA ready to give equivalent to Binance users? What applications will be integrated into Binance to expand the ecosystem?

  • Answer - Kava gives the BNB users loans. It gives the DEX a stablecoin and the ability to offer margin products. Kava’s connection to binance chain and chainlink data also enables Binance DEX to offer trustless derivatives like options and futures products going forward.

Q17:

Cosmos has limitations on working with PoW coins. How do you technically solve the problem of implementing DeFi products for bitcoin?

  • Answer - Cosmos is great for hard-to-work-with blockchains like BTC. It's flexible in how you can construct bridges. For example, the validator set can have a multisig private key split up into pieces in order to create a trustless escrow and control of assets on other blockchains. In this way, we can create peg zones with Cosmos for the best assets in the world. Once a zone is established, it can be used on Kava and other Cosmos chains.

Q18:

USDX is currently a little-known stable coin. Do you plan to add it to the top exchanges with good liquidity, including Binance?

  • Answer - USDX will be growing quickly. We have a plan to have it listed and get liquidity across several known exchanges shortly after launch.

Q19:

There are several options for using USDX on the KAVA platform, one of which is Margin Trading / Leverage. Is this a selection function or a compulsory function? Wondering since there are some investors who don`t like margin. What is the level of leverage and how does a CDP auction work?

  • Answer - Using Kava for Margin trading is 100% optional. You can choose how you want to use the margin loan. You don’t have to spend the USDX unless you want to. It could be used for everyday payments as well in the case you simply don’t want to sell your underlying collateral. If you don’t want the risk, do small loans with lots of collateral.

Q20:

Will your team have a plan to implement the DAO module on your platform, as it provides autonomy, decentralization and transparency?

  • Answer - DAO - Kava is a for-profit DAO and it’s fully functional already. We have on-chain governance and have underwent several votes and evolutions you can look at. You actually can see some current voting processes taking place here: https://kava.mintscan.io/proposals
  • We recently implemented a cool feature called committees, which enables the DAO to elect a small group of experts to make decisions without needing a vote of the whole user base. This enables the experts to have control over a small portion of the protocol - such as monitoring the debt limit, fees, etc and enables Kava to operate faster and be more adaptable in volatile market conditions.

Q21:

How can we address the possible overloads and security threats caused by increased users in the DeFi scene?

  • Answer - Yes, this is a huge issue for Ethereum, MakerDAO and everyone in the space. I don’t see a bright future for DeFi on Etheruem unfortunately. You can’t have a blockchain do everything well. Tether alone congests most of Ethereum and makes oracle price feeds lag the market. This can cause liquidations that should not happen and real people will lose real funds. It’s a huge issue.
  • The hope is for a dedicated system like Kava to provide a better backbone for DeFi applications going forward.
  • I should point out that Kava is not just a MakerDao for Cosmos or a CDP for Bitcoin. Kava is designed to be a foundational layer for DeFi services that every new blockchain and application will need.
  • Every blockchain will need DeFi services like lending, stablecoins, and data and they need it to be very secure. Kava does all this with its cross-chain lending plarform, USDX stablecoin, and Chainlink data in an incredibly secure, but accessible manner.
  • In this way, Kava aims to connect and serve all the major cryptocurrency communities and build it’s place at the center, where every developer can get what they need to build financial applications of the future."

Q22:

What distinguishes Kava from your existing competitors like Syntetix?

  • Answer - Synthetix isn't really a competitor, but it is an interesting project in terms of mechanism design. We share a lot of common investors and have similar token economic ideas with them. The only blockchain project that could be is MakerDAO, but they can only work with ETH assets due to their design. We are focused on the major cap assets - BTC, BNB, XRP, ATOM and others have a much larger market than ETH to address. BTC is 10x the size alone. Currently no one serves them with DeFi. We’re going after this opportunity and believe it to be a huge one.

Q23:

Why is the KAVA coin not used for Mint, why am I asking that because I see it can also make the value of KAVA coins grow naturally?

  • Answer - Why is Kava not used as a collateral? Well, it could be I suppose. The community might vote for this in the near future if they want us to be like synthetix. It makes the Kava token more valuable and it will incentivize much more locked-up Kava reducing overall circulating supply which is fairly favorable. The main reason we have not done this yet is that we(Kava and its community) are still weighing the risks of doing this given that Kava also functions as a reserve asset. I think it's likely Kava gets added as collateral at some point, but it will likely have a high debt-collateral ratio to address the issues similar to Synthetix which is 750%.

Q24:

How do you prevent in a manipulated KAVA Mint just to take advantage of a token prize when minting?

  • Answer - Minting rewards and manipulation. We’ve thought of this. Each week, the blockchain counts all the blocks, counts how many people had a loan in that period, then takes the average loan amount over time to calculate the rewards. If you open and close a loan - you will get very little rewards. You only get a large reward if you keep the loan open the full period.

Q25:

Who are your oracle providers? Are you also an oracle provider?

  • Answer - Kava may run 1 oracle in the future, but we will always have many and be the minority. Most chainlink oracle node operators are large players in the space that run staking infrastructure companies like cosmostation, chainlayer, chorus one, figment networks, etc. Binance will also be one of our oracles.

Q26:

If we look at all the different types of DeFi products _(decentralized exchanges, stablecoins, atomic swaps, insurance products, loan platforms, trade financing platforms, custody platforms, and crowdfunding platforms) currently covering important areas of traditional finance...where does Kava fit in?

  • Answer - To make any interesting financial product work you need capital, a stable store of value, and price data. These are really hard to get on current blockchain environments. Kava provides all of these.

Q27:

Many people describe Kava as similar to Maker (MKR). How is Kava different? Why do you think Kava has more potential?

  • Answer - MakerDAO is a smart contract with a singular purpose, to serve ETH. It sadly inherited the problems of ethereum. Kava is designed from the ground up for security and interoperability. We are targeting bigger and better assets and have more capabilities to serve them with what their developers and ecosystem need.

Q28:

What is the uniqueness of KAVA project that cannot be found in other project that´s been released so far ?

  • Answer - Well in June 10th, we will be the first ever blockchain project to bring DeFi to another blockchain in a real way. BNB users will have loans, stablecoins, and much more.

Q29:

The gas fee is an issue for blockchain besides scalability. Does your Kava provide a solution for gas?

  • Answer - gas fees are very low on Kava, only high enough to prevent spam. We dont need high fees for TX because validators are paid in block rewards. Additionally, we dont have competing transactions from crypto-kitties or other non-financial applications. This leaves all of Kava's throughput 100% dedicated to scaling financial transactions.

Q30:

Kava project works on DeFi (Decentralized Finance) But what’s the benefits of Decentralized Financial system? What are the possibilities of DeFi over Centralized Finance system?

  • Answer - Open access, no need for trust, and no censorship by singular governments or parties. Kava is accessible anywhere in the world, by anyone.

Q31:

Data supplied by oracles are false at times, how do you prevent this? How reliable are data received by KAVA?

  • Answer - This is why using premium / credentialed APIs is important for oracles. These data sources tend to be more accurate and better managed. Wrong prices can happen - for liquidation systems like Kava, we factor this into our design by using an average of data overtime form all oracles as part of the calculation.

Q32:

Can anyone become a KAVA validator, or is it just an invitation from the project itself? What are the requirements for becoming a KAVA verifier?

  • Answer - Anyone can become a validator, but you will need to stake or have enough stake delegated to you from others to be in the top 100 validators to earn block rewards.

Q33:

DEFI PULSE said that a total of 902M is currently locked. According to you, how will this number change in the next few years, and how will KAVA position itself as the top player in this market segment?

  • Answer - DeFi will only grow through 2020. And likely grow massively.
  • All projects on DeFi pulse are ""ethereum"" based. Kava is going to shake the blockchain world in the next few weeks by being the first ""multi-chain"" project on DeFi pulse and by my estimations we should quickly surpass a lot of the projects on that list.

Q34:

I am an testnet minter and the process seem Simplified, now I want to know if minting of USDX will continue when you launch Mainnet and do you have plans to build your own KAVA WALLET for easy minting on your mainnet

  • Answer - Simple blockchain experience?! high praise! Yes the process will be the same. Kava will not provide interfaces or wallets. Kava Labs builds software for the blockchain, our community members like Cosmostation, Frontier, Trust Wallet build support for people to interact with it.

Q35:

What business plans does Kava have with Seoul (South Korea) after partnering with Cosmostation? Do you plan to expand your products beyond Asia? Have you thought about harnessing the potential of South America?

  • Answer - South Korea is a perfect market for Kava's DeFi. Regulations prohibit fiat-backed stablecoins and margin trading. Kava's platform uses crypto-backed stabvlecoins and can enable users to get loans to margin trade. I am looking forward to further developing the Korean market for Kava, working with close partners like Cosmostation and showing the world real use cases of DeFi.

Q36:

Thank you for taking the time to conduct this AMA. Do you have any parting words, and where can the people go to keep up with all of the new happenings regarding Kava Labs?

  • Answer - Thanks for all the awesome questions! Amazingly thoughtful!
  • I've been promising the world cross-chain DeFi since June of last year. The IEO and mainnet went live Nov 2019. It's been a year of hard work - but an industry first is coming on June 10th. I'm excited. I hope you guys are.
  • Thanks for having me, I hope you become a USDX minter and get KAVA rewards. And last but not least, I love Binance - it's Kava's first home and I'm really happy to open up DeFi to BNB first.
  • To keep up to date w/ all things Kava: Website - Telegram - Telegram for Kava Trading Chat - Twitter - Medium
submitted by Kava_Mod to KavaUSDX [link] [comments]

Kava In the News

Kava "In The News" Media Tracker:
This is a thread to track noteworthy Kava mentions within the news!
This thread will not include "copy & paste" news - meaning, and article that was taken from somewhere else and republished.
(Kava does like when that happens, but this thread is meant to track original stories only!)

Featured Articles:


[News Mentions by month/quarter!]

July (2020)

Mentions

June (2020)

Mentions

May (2020)

April (2020)

March (2020)

February (2020)

January (2020)

December (2019)

November (2019)

October (2019)

submitted by Kava_Mod to KavaUSDX [link] [comments]

Epic Cash Vitex Exchange AMA

What is EPIC CASH?
Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The Epic currency aims to become the world’s most effective privacy-protecting form of digital money. In order to fulfill that goal, it satisfies the three principal functions of money:
1. Store of Value — can be saved, retrieved, and exchanged at a later time, and of predictable value when retrieved;
2. Medium of Exchange — anything accepted as representing a standard of value and exchangeable for goods or services;
3. Unit of Account — the unit by which the value of a thing is accounted for and compared.
Website: http://epic.tech Whitepapers: http://epic.tech/whitepaper Epic Cash Community: https://t.me/EpicCash Miner Chat: https://t.me/EpicMiners Gitlab: gitlab.com/epiccash Twitter: twitter.com/EpicCashTech Social Media: http://epic.tech/social-media Exchanges: https://epic.tech/service-list
Oleg✌🏻
Hello community! Our AMA with EPIC begins🚀 We are very happy to have you here, on our joint AMA👌 So, lets start! The very first question for you. Can you introduce yourself?
Max Freeman | Epic Cash | Mimblewimble I’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Yoga Dude Hello, I am Yoga Dude 🙂 I handle Marketing and PR, in crypto since 2011 started as Bitcoin miner, and in 2014 in Monero, and in 2015 in Ethereum, oh and briefly in DOGE for fun and unexpected profit. Heard about Epic Cash while learning about the Mimblewimble algo and joined the team last year.
JLong I am John, Doing the general engineering and managerial work
Max Freeman | Epic Cash | Mimblewimble I have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Oleg✌🏻 nice to meet you🙂
Max Freeman | Epic Cash | Mimblewimble Epic is a decentralized community project like Bitcoin or Monero, there is no central authority or corporation involved. We had no ICO and no premine, we had a fair launch at 0 supply last September.
Yoga Dude Great to meet everyone :)
Oleg✌🏻 Here we go the 1st question for you ~ 1. What is Epic Cash about?
Yoga Dude Epic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Oleg✌🏻 Look like a real Bitcoin🙂
Yoga Dude with privacy and fungibility 😄
Oleg✌🏻 Sounds cool! move on to the next question… 2. What makes Epic Cash better than Monero or other privacy coins?
Max Freeman | Epic Cash | Mimblewimble First off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use a three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for today's investment. Our blockchain is 90+% smaller than Monero or Bitcoin. Coins such as Zcash have optional privacy. Epic makes all transactions private, and it is impossible to trace movements of coins by watching wallet addresses.
Oleg✌🏻 Young and hot😋 security and privacy level is very important now but… 3. Why copy the same supply economics as Bitcoin?
Yoga Dude It is hard to compete with the success of Bitcoin today, part of the elegance and the appeal of Bitcoin is the responsible emission rate, terminating at 21million highly sub dividable coins. Like the Bitcoin supply curve, Epic Cash encourages early adopters, and with subsequent halvenings maintains a gradually diminishing flow of additional currency while preserving the overall value.
Max Freeman | Epic Cash | Mimblewimble In 2028, the supply of Epic matches that of Bitcoin and they stay in sync until the final coin is mined in 2140. We have 4 halvenings between now and then, which is demonstrated in Bitcoin to drive the value over market cycles. Epic is a chance for people who were late to Bitcoin to ride the wave and not miss their opportunity this time.
Oleg✌🏻 Interesting! 4. Why Choose Epic Cash over Grin and Beam?
Max Freeman | Epic Cash | Mimblewimble First of all, we have tremendous respect for all Mimblewimble currencies and their talented teams, they all taught us a lot and we are thankful for that. Without sounding too contentious, the choice seems obvious. We offer the same core tech, but with a much more responsible emission curve — Grin is an endless fountain of emission and inflation (60 per second forever), and Beam is even more frontloaded outpacing even Grin’s aggressive emission schedule for the next several years… We respect Grin and Beam, we learned from them, and we believe we are the next evolutionary step. Additionally, as we mentioned earlier, we offer more ways to mine Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Yoga Dude Yes, all that ☝️😄
Oleg✌🏻 I hope the miners read it all carefully 👌 Next question 5. Why have a development fund tax and what will it be used for?
Yoga Dude Dev fund tax today is at a reasonable 7.77% dropping by 1.11% every year until it hits zero. As Epic Cash grows in value these funds will become increasingly more relevant in additional technical, marketing, and fintech partnerships developments.
Oleg✌🏻 Very smart! 6. What is the advantage of 3 mining algorithms?
Max Freeman | Epic Cash | Mimblewimble By having multiple mining algorithms we are able to attract CPU, GPU, and ASIC miners simultaneously. Currently all other Mimblewimble currencies are mineable with GPU only ignoring a large segment of CPU miners. Monero made a splash migrating to the RandomX CPU mining algo. Epic Cash from the beginning embraces all mining communities. Many miners are successfully using older hardware such as Xeon processors to help secure the network. We use RandomX for CPU, ProgPow for GPU, and Cuckoo for ASIC.
Longer term, our flexible architecture means we can have many algorithms, not just 3. Our roadmap includes an allocation for SHA3 Keccak, which will help further decentralize the network and keep it unstoppable.
Yoga Dude We love miners 🙂 and Epic Cash can be mined with laptops and gaming rigs 🙂
Oleg✌🏻 A wide selection of mining methods is a great way to create a stable, decentralized and large network👌 Let’s talk about persons… 7. Who are the people developing Epic Cash?
Yoga Dude We are blessed with a very talented team of skilled developers with diverse backgrounds, many of them are volunteers who believe in what Epic Cash stands for and contribute with product and usability innovation. Our teams main focus is to make Epic Cash the best, most secure, most user friendly and usable product on the market, without making it unnecessarily techie, with as much mainstream user appeal as possible. This is a serious challenge but we are up for it 😄
Max Freeman | Epic Cash | Mimblewimble It is also important to note that we are a truly open ecosystem that anyone can participate in. Our community has developed wallets, mining pools, educational content, and much else besides. We are not limited by the funding generated during an ICO or VC investment, our users are an essential element of our team.
Oleg✌🏻 Sounds very attractive. 8. What do you think is currently lack in today’s crypto?
Max Freeman | Epic Cash | Mimblewimble We believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why these are necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals.
Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. Mimblewimble eliminates the risk of tainted coins making them indistinguishable from each other. With traceable coins, you always have to worry if the coins you are getting were involved in a hack, or perhaps the darknet.
Oleg✌🏻 It’s good to see strong and safe coin in our time Let’s talk about your future… 9. What does the Epic Cash roadmap look like going forward?
Yoga Dude First and foremost, we are focused on security and usability.
We are working on a new, improved GUI wallet to incorporate the community feedback on ways to improve it.
We are in the process of completing final testing phases for the next iteration of Epic Cash which will make it more secure and stable. Once that is done, we will be rolling out Android and iOS support to make Epic Cash usable on leading smartphones and smartwatches. Beyond that without going into too much detail we are focused on continuous evolution of privacy, ease of mining, and overall speed and usability.
And of course we are constantly looking to add more exchanges both with and without KYC.
Oleg✌🏻 Are you working on Android and IOS wallet ? What will your application be?
Max Freeman | Epic Cash | Mimblewimble Yes, we will release a mobile wallet this year. It will bring us one step closer to people being able to actually use cryptocurrency as money in daily life.
Yoga Dude The idea is to be able to access Epic Cash from any platform and device
Max Freeman | Epic Cash | Mimblewimble Epic is very lightweight, which means that low-end devices such as smartwatches can participate.
Oleg✌🏻 Ok, got it. Thanks for clarification! 10. What else can you tell us about Epic Cash?
Max Freeman | Epic Cash | Mimblewimble Well one thing I really want to mention is our great Epic Cash community. We’ve been building a decentralized community organically, without the talk of price pumps, pressure to HODL and other BS crypto-gimmicks. Our community is truly global and consists of developers, volunteers, miners, and other Epic enthusiasts spreading the word about Epic Cash, helping us reach millions of people around the world to improve their quality of life through social media and directly. Everyone is an evangelist, everyone is an influencer, everyone has the power to make the world a better place to live in. As we continue to grow — the future looks Epic 😊
Yoga Dude Definitely the community! We got a talented crowd of very cool and motivated people from all over the world!
Oleg✌🏻 Thank you guys, for such informative answers 🙂 Now we proceed to Section 3, where a Community can ask their questions to the EPIC team Now I’ll open chat for the quite some time … Oleg✌🏻 Thank you all, dear community! EPIC team, please choose the 10 best questions you want to answer.
AngeI Everyone likes Privacy & Epic Cash provides their Best Privacy to users But, Which Technologies are being used by Epic Cash to make Blockchain very Private and Completely untrackable ?
Max Freeman | Epic Cash | Mimblewimble From the wallet to the node, Epic uses Dandelion++ to bounce transactions around the world before they go into the mempool for mining. Within the blockchain itself, Cut-Through merges all transactions in a block together, with CoinJoin automatically mixing all coins.
Beyond that, there are no addresses, so it’s impossible to watch someone’s wallet.
Arnold Even litecoin is implementing mimblewimble, Don’t you think it’s a significant threat for Epic if they implement it, then why would anyone use a less popular and a new cryptocurrency.
Max Freeman | Epic Cash | Mimblewimble LTC is implementing mw as an “extension block”, meaning that it is optional and not all transactions will use it. This is very different than the core protocol leveraging mw to make all transactions private and all coins fungible.
Aluta Why Epic cash so much focus on fungibility? Does fungibility matters that much?
Max Freeman | Epic Cash | Mimblewimble Fungibility is going to be one of the key issues within the cryptocurrency space in the coming years. Today, if you accept traceable coins from a seller, you are liable if they have ever been used in any illegal activity. This has led to a two tier market where freshly minted coins sell for more than circulated coins. When coins are fungible, like Epic, you don’t have to worry that you will run into a problem when an exchange or merchant blocks your transaction.
Joxes It is a pleasure.
When I first researched EpicCash, google showed me a youtube video that talked about how to mine with EpicCash. It made me ask: is this mining activity profitable so far?
We are in the early stages of development I guess, what adoption strategies are you taking to have sustained growth? is it feasible to reach N ° 500 rank in coinmarketcap in the medium term?
Yoga Dude When I got into crypto, it was by mining Bitcoin back in 2011 when you could still solve blocks on a single computer, but Bitcoin at the time was anything but profitable 😄 Today Epic Cash is still new, still young, and still undervalued. I believe it is mining-worthy because of its potential, not because of today’s price. By allowing Epic Cash to be mined with GPU and CPU on gaming rigs, servers, and even laptops we offer maximum public participation in our project. More people involved in the project, the more evangelists there are. We empower people to mine Epic Cash and to promote it.
S.P.A.D.E What new features of Epic Cash provide that Grin or Beam does not offer. Why do we need Epic Cash?
Max Freeman | Epic Cash | Mimblewimble They are great coins, but there are some ways in which Epic improves. Epic has better tokenomics than Grin and a more sustainable model than Beam, that has a company behind it that needs to repay investors via its high dev tax. this article explains in more detail https://medium.com/@frodofreeman/overview-of-mimblewimble-cryptocurrencies-7c70be146f50
Sahil What’s the Minimum Hardware / setup Required for Mining of EPIC Cash coins? Is Mining Profitable and Can we Mine EPIC Cash coins at Home?
Max Freeman | Epic Cash | Mimblewimble It is possible to mine on an ordinary laptop or desktop from the last 5 years, sometimes older. Epic is open to everyone, and our friendly community is standing by to help you get started at t.me/epicminers
Erven James Sato “TOKEN BURN” is BENEFECIAL for any projects, in able to CONTROL THE NUMBER OF TOKEN CIRCULATION and TO PROVIDE GREATER INCENTIVES TO INVESTORS.
Does your GREAT PROJECT have plan about TOKEN BURN?
Xenolink For deflating projects It is beneficial to drive the demand / scarcity / and price up in a faster pace. Epic Cash is here for the organic long run not the short run. However when it comes to long term economics elastic supplies whether inflating or deflating will not be a solid long term economic model. This has been heavily discussed already with Bitcoins inelastic Fixed 21 million supply in the past. Having a fixed model demonstrates good long term economics without worrying about balancing a deflating/inflating model. Bitcoin is a perfect example of a 21 million inelastic fixed supply model that has been proving itself till today. Which is why we are also using the same fixed 21 million supply model. Epic Cash plans to have a solid organic long term future to bring free private fungible money and make this world a better place.
Red Z🔥🤙 No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?
Yoga Dude One thing we have seen as the result of the COVID-19 is more governments are talking about moving to digital cash — digital dollar in USA, digital Lira in Turkey, etc… If in the past the idea of digital money was not graspable by some people, today its the governments that are educating the people for us about the value of digital currency… What is ironic, the governments, by printing money to solve the economic consequences of COVID-19 also educating the consumer about the true “value” of fiat… What we offer is a touch free, borderless, private, anonymous, fungible currency that can not be printed beyond the initial defined algo. We are more responsible than the printing presses of the governments 🤔
kunlefighter How does the Dandelion++ Protocol, Confidential Transactions (CT) and CoinJoin assist in protecting the privacy of individuals and their transactions on Epic Cash Blockchain?
Max Freeman | Epic Cash | Mimblewimble Dandelion++ bounces transactions around before committing them to the blockchain, making it impossible to determine where they originated from. Confidential Transactions means that all tx are private, you can’t tell anything about where the coins have been or who they belonged to. CoinJoin in essence melts down and re-mints each coin every time it is used, making it impossible to track their ownership or usage history. Epic provides comprehensive privacy to everyone, without the compromises that other pre-mimblewimble coins have.
Dr Mönica Hello sir @maxfreeman4 @Johnsstec @Yogadude
Thanks for the ama I notice that Epic Cash has 2 type of new algorithm, progPoW version 0.15.0 and randomX version 1.0.3 NOW , CAN you tell me why you choose these 2 algorithm???
Yoga Dude We went with RandomX because it is a solid and very popular CPU centric algo used by several coins — most recently Monero. Most miners today heavily favor ASICs or GPUs, leaving a lot of solid high end users in the dust unable to mine emerging cryptos. As far as ProgPow, again its an established algo for GPU miners, and thanks to many cryptos starting with Bitcoin/Monero/Ethe etc there is no shortage of GPU rigs out there :) plus again the casual user with a video gaming caliber card can get in on the action.
Oleg✌🏻 Perfect! It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks EPIC team for taking the time👏. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!🎉
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