Tag Archives: Blockchain

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin

This Boring Project Will Turn All Other Blockchain Into Layer 2 Of Bitcoin
Whether you are a Bitcoin Holder or not, you would have to spend 5 minutes getting to know this project that may change Bitcoin’s future.

Suppose you are not only a holder, but also a Maximalist. In that case, congratulations, the Bitcoin you love is about to regain everything it has lost (for example, Bitcoin Dominance). BoringDAO is a project whose name may sound boring, but some of the most exciting work is currently going on. BoringDAO is a cross-chain compatible, decentralized asset protocol, and its most important product is bBTC (BoringBTC). They provide Bitcoiners the access to all the different Defi.

We Need Programmable Bitcoin

Even though scalability and safety allow Bitcoin to become the most popular cryptocurrency, a programmable Bitcoin is still what the community has long expected. The community is eager to use $BTC to participate in the MakerDAO’s collateral or be freely exchanged with other Cryptos in the Uniswap. There are already some pioneers in the ‘race’: WBTC & renBTC. According to the latest data (03/10/2020, https://debank.com/ranking/btc), the number of WBTC on Ethereum has reached 92,583, while renBTC is 23,855. Even though the TVL seems relatively high, compared to the total number of Bitcoin (18,505,343), it only occupies 1/154 of the total $BTC. In other words, even if the APY is 100%-10000% in DeFi, merely less than 0.6% of Bitcoin enters the Ethereum network through the above two gateways.

Why? The reason is simple: people need a safer and more decentralized way. In WBTC, BitGo is the only custodian. Since BitGo is the only institution that holds users’ assets, there might be a chance of a single point of failure. In terms of renBTC, they proposed a brilliant idea: renVM. But renVM are still in the sub-Zero stage; therefore, it seems that the team manages these Bitcoin at now.

What will BoringDAO do?

BoringDAO proposed a “double pledge mechanism.” Each Bitcoin is backed by more than 200% of assets, including one real Bitcoin (multiple reputable institutions manage Multi-sig). The approximately equivalent value of ERC-20 assets is locked in the contract layer (governed by smart contracts). There is no doubt that 200%>100%, so bBTC maybe much safer. Once the underlying assets of other wrapped BTC have issues, its wrapped token will be in danger. However, in BoringDAO, even if there is a black swan event, the contract layer provides an additional protection. Many people would ask: How about the capital efficiency of BoringDAO?The answer is high.

The secret behind is our Double-Pledge mechanism:

  • BTC holders deposit BTC to mint bBTC through the bBTC Tunnel.
  • All community members pledge $BOR/other ERC-20 tokens on the contract layers (100% Pledge ratio) to build a bBTC Tunnel.

Meanwhile, the BOR community and BTC holders will help each other:

  • Pledge providers can increase the Tunnel’s capacity, enabling more bBTC to be minted through the Tunnel. In return, they can get 70% of the minting fee & burning fee.
  • Pledge providers have access to the Boring Farm, which generate high yield.

It is Incentives that Drive the BoringDAO Business

The two incentives program, Mint Mining and Boring Farm, are uniquely designed for bootstrapping and providing a use case for bBTC in the early stage.

All Blockchains Can Become Layer 2 of Bitcoin

This “boring” project’s business is very smooth: the introduction of incentives and the fair distribution allow our community to grow and prosper while maintaining security. Moreover, not only on Ethereum, this model can run on more blockchains. In the future, Bitcoin will be obtained kinds of features through BoringDAO. If BTC wants smart contracts or enter the DeFi world, then enter Ethereum. If BTC wants high performance, then enter Tron and EOS. If BTC wants anonymous transaction, then enter blockchain with Zero-Knowledge Proof.

BoringDAO is the one stop solution to all demand! These end up with a spectacular imagination: all blockchains (Ethereum, EOS, and even Libra) may become Layer 2 of Bitcoin. Don’t waste your time arguing those guys who support a larger Block. Bitcoin should adopt the safest Layer1, and BoringDAO + Layer 2 will give Bitcoin the infinite scalability. BoringDAO is the infrastructure for the next Bitcoin bull run. With it, you can use your favorite Bitcoin to pay for coffee, as well as participate in decentralized finance without selling your $BTC.

Conclusion

Today, Bitcoin dominance amounts to 60% of total cryptocurrency market cap. This means just by Bitcoin alone, over 60% of crypto’s total market cap is currently left out of the Ethereum-led DeFi world, even with the help of projects like renBTC and wBTC. If the ultimate goal of blockchain is to decentralize while interconnect everything, BoringDAO will be an important piece to the puzzle. To say BoringDAO is the infrastructure of the future is a gross understatement; BoringDAO is the future. With the leading blockchain investors like DeFiance, Hashkey, SNZ, Youbi, Altonomy, DeFi Labs and some BTC miners joining BoringDAO, and strong partners such as HashQuark, Peckshield, DODO, Band and Link, BoringDAO is ready to allow 1M BTC into the DeFi world in a decentralized and safe way.

Article Produced By
BoringDAO

https://www.coinspeaker.com/this-boring-project-will-turn-all-other-blockchain-into-layer-2-of-bitcoin/

Thomas ClaimCo.in

Where is Blockchain Not Needed?

Where is Blockchain Not Needed?


A consensus has built in the last few years that blockchain is going to continue to broaden its impact in modern society. Once tied exclusively to bitcoin, the technology has already become more widely useful, and most seem to expect that this trend will continue.

 

For our part, our take on ‘The Next Industries Blockchain Will Transform’ included talking about gaming, healthcare, and real estate. All of these are industries in which the rapid, affordable, and secure transfer of data is increasingly essential, making them natural fits for blockchain technology. Some will take the idea further than even these major aspects of modern life, however. For instance, Newsweek covered the “new internet” potential that some see with blockchain, essentially suggesting that the technology can re-democratize online information, and help to bring about a more decentralized online experience. Given ideas and industries like these that come up in these discussions, it’s becoming easy to assume that blockchain is gradually going to change our lives in virtually every area in which the transfer of information and/or value occurs. It’s almost more sensible at this point to ask where blockchain won’t be needed than where it will be. So we thought we’d do just that, and look at a few tech-related parts of life in 2020 that probably won’t be jumping on the blockchain bandwagon.

Internal Financial Management

There’s a temptation, particularly among those who are only just coming to understand the blockchain, to think that it can and should be used for any and all financial dealings. However, the truth right now is that most businesses don’t really need a tool like the blockchain — particularly where management of internal finances is concerned. A look at whether companies need blockchain by Hackernoon presented a helpful infographic on this topic, suggesting questions company owners should ask themselves to determine whether or not blockchain implementation is necessary. And most of these questions concern needs for exceptionally rapid transactions, contracts about value transactions, and work with digital assets. There’s virtually no consideration of in-house finances, indicating that while it may sound like an interesting idea for a business to record financial data via blockchain, it’s not entirely necessary.

Content Management

In a sense, many people think of the blockchain as something of a content management system. That is to say, with all of the data and funds changing hands — and the fact that the blockchain is usually described as a ledger for recording those exchanges — it can in a sense seem like one giant filing mechanism. It may well be that content management on such mechanisms will become a more popular blockchain function. But here again, it’s not exactly necessary. Today, the cloud content management systems listed by Box showcase how businesses and individuals with significant content management needs already involve highly capable cloud systems. Even a large business can reliably manage all of its content on the cloud, enabling seamless workflow and providing employees with easy and efficient access to all content relative to their work. There simply isn’t much of a need to organize blockchain-based content organization, even if it might sound logical at first thought.

Remote Communication

Finally, there’s remote communication, which has become a particularly significant topic in 2020. Here too though we have a trendy, tech-forward aspect of modern society for which blockchain just doesn’t seem to be much of a fit. Already, there are encrypted services designed to facilitate chats and messages all around the world. And for more business-oriented needs, a flurry of workplace communication systems such as the ones listed by WSJ have emerged to create their own competitive market, packed with solutions for everything from messaging to video conferencing. So, while the blockchain could conceivably be used to package communications quickly and securely over distance, this sort of use isn’t likely to be a priority for developers.

None of this is meant to suggest that blockchain technology isn’t useful, nor that it won’t continue to spread. But with so many lofty ideas about its potential beginning to take root, it’s worth keeping in mind that it’s not necessarily needed everywhere.

Article Produced By
Carolyn Coley

https://smartereum.com/188203/where-is-blockchain-not-needed/

Thomas ClaimCo.in

GET Protocol announces new user for its blockchain-based ticketing solution

 

GET Protocol, the leading blockchain-based ticketing solution, is expanding in usage and adoption with the integration of a second ticketing company:

ITIX. Smart tickets issued by ticketing companies who make use of GET Protocol are digitally programmable and registered on the blockchain, bringing transparency and accountability to the ticketing industry. The protocol has issued over 200.000 tickets to date, none of which have been re-sold by scalpers.

For each issued ticket, the GET crypto token is needed as a fuel within the protocol. This GET is then bought up from the open market. To read more about GET Protocol or the GET token, read up on the GET Medium blog. Currently, ITIX handles ticketing for 23 theaters throughout the Netherlands and sells more than 2 million tickets per year. Their ambition is to continuously grow and offer innovative services to their clients, of which honest tickets are a notable example.

From GET Protocol CEO, Maarten Bloemers:

Our partnership with Dutch ticketing company ITIX is very exciting in various ways. Not only will we learn how to make the technical onboarding for ticketing companies as easy as possible with a committed local partner, also the opportunity costs for choosing not to service theaters directly but through an established brand are virtually non-existent. GET Protocol is extremely committed in helping ITIX grow in market share with our unique features, to both our benefit.

The integration of these honest tickets issue by GET Protocol for the clients of ITIX will be done in phases. Starting later this quarter, ITIX will offer their clients the possibility to provide consumers the comfort and benefits of GET Protocol’s digital tickets.

Article Produced By
The Editorial Staff

https://www.investinblockchain.com/get-protocol-announces-new-user-for-its-blockchain-based-ticketing-solution/

Thomas ClaimCo.in

Gaming giant Atari partners with blockchain-powered entertainment platform Ultra

Gaming giant Atari partners with blockchain-powered entertainment platform Ultra

Gaming giant Atari partners with blockchain-powered entertainment platform Ultra
Per the release, Ultra operates an entertainment platform that enables gamers to play, discover,

buy, and transact on a blockchain-based network with other gamers and interact with in-game assets. Its previous partnerships include other gaming developers and software giants like Ubisoft and AMD.The new project will see Ultra team up with Atari to make its platform accessible through the new Atari VCS, a “PC/console hybrid” games, and entertainment system, which is scheduled for a launch later this year.Gamers will be able to play fan-favorite Atari games as part of the Ultra partnership, including hits like Asteroids, Missile Command, and RollerCoaster Tycoon.An old-gen Atari gaming console. Image: BBC

Atari Tokens to power in-game purchases

The Atari video computer system will also be available for purchase on Ultra using either UOS, Ultra’s in-game tokens, or Atari Tokens — giving crypto and gaming enthusiasts the perfect platform to purchase the new hardware. Atari Tokens run on the Atari Chain platform and are an ERC20 token based on the Ethereum network. They are currently undergoing pre-sale rounds (as listed on the Atari Chain website) and a public sale is expected later this year.

Meanwhile, the Ultra platform will directly integrate within the Atari VCS, allowing users to purchase, download and play PC games from Ultra on the system, and give gamers instant access to a huge array of titles from triple-A games to xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxlovingly-crafted indie gems. Ultra is also providing a full range of services to gamers, such as live streaming, in-game asset trading (of non-fungible tokens, NFTs), esports, entertainment, as well as participating in large scale esports tournaments, the release added.

 

The Ultra platform. Image: Ultra

Nicolas Gilot, CEO of Ultra, commented on the launch:

“[Atari] offers us the opportunity to show Ultra’s capabilities when it comes to platform integration, as well as exploring NFTs and blockchain technology with one of the best known names from the video game industry.”

Michael Arzt, COO of Atari VCS and Connected Devices, shared the sentiment:

“We look forward to working closely with Ultra to help make the VCS the most blockchain-friendly gaming and entertainment system and to introduce a huge network of gamers and hardware fans to this amazing new frontier.”

Gaming and in-game assets have been long heralded as the “killer app” for blockchain technology and cryptocurrencies, courtesy of their truly decentralized nature, and a potentially fair distribution scheme. And with Atari turning to tokens, blockchain, and Ultra to provide a next-gen experience for gamers, one could argue the widespread use of cryptocurrencies, apart from speculation, could be coming sooner than one thinks.

Gaming giant Atari partners with blockchain-powered entertainment platform Ultra

Shaurya Malwa · September 24, 2020 at 2:00 pm UTC · 2 min read. Command, and RollerCoaster Tycoon. An old-gen Atari gaming console. Image: BBC

Atari Tokens to power in-game purchases

The Atari video computer system will also be available for purchase on Ultra using either UOS, Ultra’s in-game tokens, or Atari Tokens — giving crypto and gaming enthusiasts the perfect platform to purchase the new hardware. Atari Tokens run on the Atari Chain platform and are an ERC20 token based on the Ethereum network. They are currently undergoing pre-sale rounds (as listed on the Atari Chain website) and a public sale is expected later this year.

Meanwhile, the Ultra platform will directly integrate within the Atari VCS, allowing users to purchase, download and play PC games from Ultra on the system, and give gamers instant access to a huge array of titles from triple-A games to lovingly-crafted indie gems. Ultra is also providing a full range of services to gamers, such as live streaming, in-game asset trading (of non-fungible tokens, NFTs), esports, entertainment, as well as participating in large scale esports tournaments, the release added. The Ultra platform. Image: Ultra

Nicolas Gilot, CEO of Ultra, commented on the launch:

“[Atari] offers us the opportunity to show Ultra’s capabilities when it comes to platform integration, as well as exploring NFTs and blockchain technology with one of the best known names from the video game industry.”

Michael Arzt, COO of Atari VCS and Connected Devices, shared the sentiment:

“We look forward to working closely with Ultra to help make the VCS the most blockchain-friendly gaming and entertainment system and to introduce a huge network of gamers and hardware fans to this amazing new frontier.”

Gaming and in-game assets have been long heralded as the “killer app” for blockchain technology and cryptocurrencies, courtesy of their truly decentralized nature, and a potentially fair distribution scheme. And with Atari turning to tokens, blockchain, and Ultra to provide a next-gen experience for gamers, one could argue the widespread use of cryptocurrencies, apart from speculation, could be coming sooner than one thinks.

Article Produced By
Shaurya Malwa -Analyst at CryptoSlate

Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. An economics graduate from the University of Wolverhampton, he breathes financial markets and decentralized ideologies. When not writing, Shaurya works on his culinary skills, trades the big three cryptocurrencies, and surfs airplane blogs.

https://cryptoslate.com/gaming-giant-atari-partners-with-blockchain-powered-entertainment-platform-ultra/

Thomas ClaimCo.in

Advertising PR Guest Post Scams in the Blockchain amp Crypto World

Advertising, PR, Guest Post Scams in the Blockchain & Crypto World


Well the World is strange but if you fall to Scammers the World can be more strange for you and your Business.

 
Many Businesses publish Press releases and Guest Posts, ok so far no problem but most of them Deal with Scammers and dont know that! The Internet have so much offers for Advertising your Business and you can find in any Forum or Classified Ads offers who promise you Guest Posting and Sponsored Advertising on Bitcoin or Blockchain websites. But is it True you can buy it here cheaper than on the Websites direct?No it is, the new Scams promise you to get your Articles published for less Money than on the website self to order! They call themself PR Agencies – Be carefull!
 
Serious websites not accept reselling there Advertsing offers! If you find PR services they offer you to publish your PR on half of the Internet Blockchain sources, be warned! And the Scammers are many, we self get about 100 Emails per Week with requests for Guest Posts from 3th part not affiliate with us! For that Please note: Do not Deal with any other sources to Advertise on TheBitcoinNews.com, we do not Authorise any Resellers or Affiliates to sell Online Advertising for our Website anymore! Most of this offers are Scam and your Press release, Guest Post or Sponsored Post will not published if you not Deal direct with us!  Double check Email addresses and website URLs, the Scams even copy easy and fast full website contents to harm your and our Business!
 
Article Produced By
TheBitcoinNews.com
Bitcoin News source since 2012

Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest. Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.

https://thebitcoinnews.com/advertising-pr-guest-post-scams-in-the-blockchain-crypto-world/

Thomas ClaimCo.in

Persisting Problems: Will Blockchain Be Used in the Next US Election?

Persisting Problems: Will Blockchain Be Used in the Next US Election?

Have you ever stepped inside a voting booth, submitted your choice electronically, and wondered,

"Did the vote actually go through? What if a malicious party changes my vote?" Those kinds of doubts dominate discussions about election security. As voting increasingly happens via computerized equipment, cybersecurity experts often warn how it's easier than someone may think to hack into a system and wreak havoc. Some people wonder then, might blockchain technology bring about a more secure way for people to vote? Let's look at that possibility.

Politicians Bringing More Visibility to the Issue

Presidential hopeful Andrew Yang increased awareness of the idea that blockchain technology could solve some voting security and convenience issues. One of the central points of his campaign centered on modernizing voting by letting people cast ballots through mobile apps, then the blockchain verifying them. The idea on its face sounds great, especially since many individuals don't like the prospect of waiting in long lines and taking time out of their already-busy schedules. Also, the Permanent Subcommittee on Investigations, which is associated with the US Senate Committee on Homeland Security & Governmental Affairs, recently held a virtual roundtable to assess the feasibility of allowing Senate members to vote via online means due to the crises caused by the COVID-19 pandemic. 

Among the topics brought up were end-to-end encryption, along with a blockchain-based voting tool. The memorandum about the meeting mentioned how the blockchain could reduce instances of incorrect vote tallies by providing a tamper-free record. It also brought up how Estonia is one of the countries already using the blockchain to run entirely-online elections. The information acknowledged, as well, that the blockchain is not a foolproof system. It discussed cryptographic errors, software bugs, and majority control of the blockchain falling into the wrong hands as possible risks. Everyone consulted during the discussion agreed with the necessity of a senator verifying their vote after casting it. The attendees discussed a variety of ways to make that happen. We are not at the point where senators or anyone else in power is ready to approve any method of voting with help from blockchain. The fact that it's in discussions as a viable option is a positive development, though.

Why Could the Blockchain Work Well?

Blockchain-supported voting could be a smart move because it may increase voter turnout. People often think of cryptocurrencies and the blockchain together. Younger and tech-savvier individuals often find cryptocurrency appealing due to how it keeps identities private. Plus, the idea of voting through an app attracts anyone who may experience difficulty getting to a polling station. Plus, as the discussion above mentioned, the blockchain offers a transparent system that allows verifying a person's votes and preventing tampering. The blockchain is not perfect, but it could give a voter more visibility to help them ensure they have their voice heard. Many people worry about the US voting system's vulnerability. They assert something must happen soon, or we risk compromising our democracy. Moving ahead with the blockchain for voting would give the impression of progress made. 

Obstacles Associated With Voting Via the Blockchain

The blockchain is like most other technologies in that it has flaws. Some experts warn that it's not ready for the kind of widespread usage a national election requires. Those are not unfounded concerns, either. Earlier in 2020, MIT researchers published a report about Voatz. It's an app claiming to record votes on a permissioned blockchain. However, the group found no evidence that the app uses the blockchain to confirm genuine votes. Even more worrisome was that the investigation revealed how a party with remote access to the app could view a person's vote and change it. Voatz is not the only app for voting with blockchain, but the MIT researchers showed hesitations that apply to them all.

They mentioned how the people working on the apps might have good intentions but lack knowledge of election security. Also, another issue affecting the tech industry at large is that many new offerings reach the market before getting thoroughly reviewed. Companies race to be first, and security may get overlooked in that rush. Another recent development concerns an open letter penned by experts in cybersecurity, science, and computing to address officials at all levels of government. They insist that no internet voting system has the required security, and relatedly, that blockchain cannot "mitigate the profound dangers inherent in internet voting." The authors backed up their claims with two decades worth of science-based research. An initiative from the Kaspersky Innovation Hub uses blockchain differently. It resulted in a blockchain-secured voting machine that lets people submit ballots in person if desired. That setup still has an online component, so it does not eliminate the concerns expressed in the open letter. Kaspersky's invention could ease the minds of people who balk at voting through a smartphone or computer, though.

Likely a Too-Short Timeframe

Voting with blockchain is undoubtedly on the table as an option for future consideration. Anyone excited about possibly sending their votes to the blockchain in the upcoming US presidential election likely has their hopes up far too high, however. That event is less than six months away, after all.

Something that seems more likely is that voting in many places around the country may happen differently than usual. The COVID-19 pandemic and the need for social distancing already means candidates cannot hold in-person rallies, and it's difficult to imagine the circumstances changing enough before election day happens. People already encounter extremely long lines at polling stations, and they especially would if required to stay six feet apart. 

Voting by mail seems a much more viable option to use around the nation in November, mainly since some states already use it, as do American citizens living abroad. Rolling that system out to everyone is still far-fetched due to the timing, but it's arguably more feasible than blockchain voting as things stand now.

Article Produced By
Caleb Danziger

Caleb Danziger is a tech blogger and freelance writer.

https://cryptocurrencynews.com/blockchain-voting-us-election/

Thomas ClaimCo.in

LINE Launches LINE Blockchain Developers and BITMAX Wallet

LINE Launches LINE Blockchain Developers and BITMAX Wallet


TOKYO – August 27, 2020 – LVC Corporation (“LVC”), operator of LINE’s cryptoasset and blockchain businesses,

and LINE TECH PLUS PTE. LTD. (“LTP”) announce the launch of LINE Blockchain Developers—a developer platform for blockchain services—and the BITMAX Wallet service for managing digital assets.In April 2018, LINE established the LINE Blockchain Lab team to develop blockchain-driven dApps and research P2P network-based distributed systems and encryption technologies. With that purpose, the team has worked on a wide range of blockchain projects across the LINE Group: developing the proprietary LINE Blockchain (formerly known as LINK Chain) and issuing its own cryptoasset, LINK, as well as operating the BITMAX and BITFRONT cryptoasset exchange services. Additionally, they built an ecosystem based on LINE Blockchain, aiming to generate co-creative relationships between users and service providers under the “LINE Token Economy” concept.

Although blockchain is a new technology that has massive potential, LINE believes its practical and widespread use as still a ways off because of the costs and complexities involved with building and deploying it. Against this background, LVC and LTP decided to share LINE’s blockchain technologies. This led the companies to launch LINE Blockchain Developers—a development platform for companies to build blockchain services—and BITMAX Wallet, a wallet service for users to manage their digital assets.

LINE Blockchain Developers: A development platform for blockchain services

LINE Blockchain Developers is a development platform that provides an easy and efficient way for developers to build blockchain services based on LINE Blockchain. Blockchain technology can also be readily added to existing services for one-of-a-kind token economies. The developer console itself is a web-based environment offered through LINE’s own developer web portal, LINE Developers. With this platform, companies and developers can focus their attention on improving UX and other facets of their service instead of the technical aspects of blockchain and security.

Companies can use LINE Blockchain Developers’ main features to issue their own tokens, tokenize in-game digital assets (such as characters, items, and currency), ensure transparent transaction histories, and monetize data. For services that have been developed with the platform, token and item trades can also be verified on LINE Blockchain Explorer (formerly known as LINK SCAN).

LINE Blockchain Developers’ main features

1. Building an independent token economy

Use the LINE Blockchain Developers’ developer console to easily create a unique token economy. Tokens can also be issued on Testnet first to test them out before official release.

2. Managing various things and rights by tokenizing

Various things and rights —whether intangible or tangible—can be tokenized, making it possible to manage them with blockchain services.
* Must comply with applicable laws for tokenization

3. Protecting blockchain asset securely

Each service uses private keys to securely manage blockchain assets.

4. Straightforward blockchain access

Use RESTful API to easily link services to a blockchain—no knowledge of smart contracts needed.

5. Fully managed blockchain network

Does not require to operate nodes to participate in the network. Easily create and manage the network by using open APIs.

6. Link with LINE

Tokens issued by services made with the platform can be linked to and managed with BITMAX Wallet (which is in turn linked with LINE IDs), opening up the option of creating services that fully or partially leverage LINE’s userbase.

About LINE Blockchain Developers

·         Operator: LINE TECH PLUS PTE. LTD.

·         Availability: Global (excluding certain regions)

·         Supported languages: Japanese, English

·         URL: https://blockchain.line.biz/#/

·         Inquiries on LINE Blockchain Developers: biz@link.network

BITMAX Wallet: A wallet service for managing digital assets BITMAX Wallet is a blockchain wallet for managing digital assets. Users can centrally manage all the digital assets—tokens, items, and more—that they have obtained from various blockchain services within the one wallet. The difficulty of creating and managing conventional blockchain wallets has hereto been a barrier for users wanting to use blockchain services—and ultimately, played a part in holding back the growth of blockchain services overall. BITMAX Wallet on the other hand, is linked to LINE IDs. This means that users only need a LINE ID to get started right away and can easily send and trade digital assets with their LINE friends.

About BITMAX Wallet

・Operator: LVC Corporation

・Availability: Japan

・Supported languages: Japanese

・URL: https://wallet.bitmax.me (Web browser)

・How to use BITMAX Wallet: https://note.com/line_blockchain/n/n6aa0765fe51e (Japanese) Under the concept of “LINE Blockchain: Designed For Everyone,” LINE will continue striving to provide blockchain services and technologies that can be integrated into users’ daily lives.

About LINE Corporation

Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more.

Article Produced By
guest Crypto Mode

https://cryptomode.com/line-launches-line-blockchain-developers-and-bitmax-wallet/

Thomas ClaimCo.in

CoinDesk columnist Nic Carter is partner at Castle Island Ventures a public blockchain-focused venture fund based in Cambridge

CoinDesk columnist Nic Carter is partner at Castle Island Ventures, a public blockchain-focused venture fund based in Cambridge,

    

Mass. He is also the cofounder of Coin Metrics, a blockchain analytics startup.What was once an idle supposition is now concrete.

Public blockchains are destined to privilege the largest, most fee-tolerant transactions, at the expense of non-financial uses. When a robust block space market emerged on Bitcoin in 2017, some wrote it off as an aberration, believing the future was #FeeLess. Since then, Bitcoin’s bite-the-bullet approach to fees has taken hold: low-fee chains have suffered from bloat and irrelevance, and the second-most valuable blockchain, Ethereum, has effectively embraced the reality of meaningful fees. This heralds a shift in how major blockchains are perceived, moving away from generic computation layers and towards their destiny as financial infrastructure.

The logic for this shift is simple. Satoshi included the combination of fees and the blocksize cap in Bitcoin as both an anti-spam mechanism (to prevent the injection of arbitrary amounts of data that would make the chain impossible to validate) and as a method to compensate miners in the long term. Satoshi envisioned a future where fees alone would support miners, after the subsidy had run out. Today, that doctrine is largely unchanged; Bitcoiners still expect fees to eventually grow to 100 percent of miner revenue. (Bitcoin miners currently make 9.7% of their income from fees, according to Coin Metrics.) Capped block space is critical to make this work. In a finite system, transactors are willing to pay up for inclusion in a block. In uncapped alternatives, fees are effectively zero – and one can imagine that these chains will be forced to rely on perpetual inflation to finance security, or fall back to permissioned validators.

Aside from paying for security and warding off perpetual inflation, fees have additional emergent impacts. Effectively, they force transactors to think hard about what they are using the blockchain for. This encourages higher-value transactions and discourages frivolous use cases. In fee-bearing blockchains like Bitcoin, marginal, spammy, or non-monetary usage simply gets priced out over time. As Bitcoin Core developer Greg Maxwell says, there is infinite demand for highly-available perpetual data storage. As a result, low-fee alternatives become great big garbage patches. If you imagine fees as attaching a weight to transactions, you can see how fee-bearing transactions would force out more marginal ones from the auction for block space, like a lead weight displacing water from a bucket.In fee-bearing blockchains like Bitcoin, marginal, spammy, or non-monetary usage simply gets priced out over time.

One great example of this displacement is Veriblock. Veriblock is a protocol which bids a fixed amount of its token, VBK, for Bitcoin block space. At its peak Veriblock transactions accounted for more than 30% of Bitcoin transactions. But, as Bitcoin fees perked up in May 2020, and VBK fell in value (and hence so did the amount of BTC it was bidding for block space), Veriblock transactions were squeezed out. Ordinary Bitcoin transactors ultimately outbid the more fee-sensitive use case.Consequently, many Bitcoiners believe that, in the long term, the base layer will come to resemble Fedwire or CHIPS, large-scale settlement networks with large average transaction sizes. This has been the working assumption among developers for a long time on Bitcoin, and it’s part of the reason why Bitcoiners speak derisively of SatoshiDice and coffee payments: They don’t expect these would be suitable for base-layer transactions at maturity. You don’t send a wire transfer to pay for a stick of gum; payment methods are a function of your convenience and settlement needs.

On Ethereum

Mirroring Bitcoin’s high fee epoch in 2017, Ethereum has witnessed in 2020 the emergence of a healthy block space market. Driven by the popularity of stablecoins (most of which rely on Ethereum as the underlying infrastructure) and the rapid growth of DeFi, Ethereum fees have skyrocketed this year, peaking at 60% of miner revenue. Transactors on Ethereum paid $8.6m in total fees on Aug. 13, with per-transaction costs coming in at a median of $3.60.

Vitalik Buterin once stated in reference to Bitcoin that “the internet of money should not cost 5 cents a transaction.” It’s safe to say his attitude to fees, and that of Ethereans more broadly, has moderated with time. Delays in ETH 2.0, a growing understanding that unlimited block space has negative externalities, and a newfound appreciation for fees as the backstop of a potentially deflationary force have caused many Ethereans to embrace a higher-fee world.The explosion of new liquidity mining opportunities on DeFi and the continued growth of crypto-dollars have priced out other use cases on the platform. The cost to deploy complex contracts has skyrocketed to hundreds of dollars in some cases. Today, a user sending a multi-million-dollar Tether transaction will most likely outbid someone deploying an Aragon DAO or minting an NFT. 

This is sobering for some Ethereans, as it has punctured some of the more expansive visions of what Ethereum could become – at least in its present form. With high fees, the most economically dense transactions come to occupy block space to the exclusion of all else.Ever since the departure of the big blockers, Bitcoiners have made their peace with this, prioritizing a layered approach in which the base layer is reserved for larger settlements. Bitcoin scales not by increasing the available supply of block space, but by minimizing the quantity of data registered on chain. Lightning scaling amortizes potentially thousands of transfers into a handful of on chain transactions. 

Meanwhile, physical bearer instruments like Opendimes are funded once but can be passed around arbitrarily many times. Sidechains like Liquid hit mainnet for pegs in and out and thereafter allow asset issuance and transfer off chain. Even exchanges and custodians – many of which allow “on-us” transfers between users solely on their own database – can be understood as trusted sidechains. If exchanges move from a real time gross settlement model to a net settlement model, yet more block space will open up. The commonality here is the introduction of deferred settlement to save on fees (by bundling many off-chain transactions together) and winning efficiencies.

Keep in mind, the above methods rely on an array of trust models, and they are not all equivalent to base-layer bitcoin transactions. But this is how payments work: some high-assurance payments require immediate final settlement, whereas in other cases users are content with deferred settlement. In fact the latter is often preferred, because deferred settlement introduces efficiency and allows for recourse if something goes wrong. The important thing is that bitcoin users have the option of making a base level transfer should they need to.Today, a user sending a multi-million-dollar Tether transaction will most likely outbid someone deploying an Aragon DAO or minting an NFT.

It’s critical to understand that large-scale block space consumers have a strong incentive to minimize their footprint if wastefulness leads to higher fee liabilities. The rigidity of the blocksize and vibrant block space market means that Bitcoin punishes profligacy. This is why providers like Coinbase have latterly come to embrace space-saving measures like batching, after several years of demurral. Batching reduces the average size of a payment by incorporating many payments into a single transaction (which has a fixed cost in terms of bytes).

Ethereum’s relationship with fees is more complicated. Ethereum 2.0 is a specter that might produce a superabundant quantity of block space, although the execution of this vision remains in doubt. Ethereum itself is far more malleable in its key properties than Bitcoin, with the supply of available block space constantly changing. Increasing the gas limit effectively socializes transaction costs from users to node-operators who must shoulder a costlier validation burden.

Perversely, increasing block space means that heavy users have a reduced incentive to optimize their usage. The Ethereum technical community has devised multiple deferred settlement systems that could reduce the mainchain data impact of transactions, many of them falling under the ‘rollup’ designation. But for industrial consumers of block space, lobbying the developers or miners to increase the gas limit might prove cheaper than rearchitecting their backend to be more parsimonious. 

In a sense, the willingness of the protocol architects to rapidly iterate on the core protocol parameters makes investing heavily in efficiency-enhancing processes less attractive. And the looming prospect of massively abundant block space threatens to derail this newly pragmatic attitude. Ethereum must choose between two visions: the low-fee, endlessly creative and resource intensive world computer, or the more economically dense financial settlement network.

Article Produced By
Nic Carter

https://www.coindesk.com/ethereums-fees-mean-choosing-between-a-world-computer-and-a-financial-network

 

Thomas ClaimCo.in

LGBTQ in BlockchainCrypto: A Safe Space With Room for More Inclusion

LGBTQ+ in Blockchain/Crypto: A Safe Space With Room for More Inclusion

LGBTQ+ people in the sector say crypto is a welcoming space: “The crypto sector is more than supportive of LGBTQ+ rights.”

Technology has become central to everyday life. From finding new ways to make money smarter to communicating

with each other, humankind is reliant on technology companies to provide these services for us. But despite its great influence over modern life, tech still faces a diversity problem. While some progress is beginning to be made, a cursory glance across the C-level ranks of most companies shows a strong oversupply of straight white men. Emerging tech sectors have not historically been the most inclusive or open-minded, but projects such as LGBT Token, TransTech Social Enterprises and StartOut show that there is both representation and support for LGBTQ+ people in tech. Nonetheless, it’s no secret that cryptocurrency’s unique nature and ideals can draw in a wide range of interested parties, many of whom have strong, and occasionally extreme, political beliefs. Despite this, crypto appears to be a welcoming place for LGBTQ+ people, according to industry leaders.

Crypto is supportive of LGBTQ+ rights

The global financial industry and many of the world’s most prominent tech hubs are not famed for their inclusivity. But for Sarah Jamie Lewis, the executive director of the Open Privacy Research Society, the disruptive nature of crypto and other emerging technologies has the power to destroy oppressive structures. Decentralization gives individuals and minority groups power that wouldn’t otherwise be available. For Paul McNeal, a self-described Bitcoin (BTC) evangelist and prominent Twitter commentator, the crypto sector has been supportive

of LGBTQ+ rights:

“Not once have I had anyone on Crypto Twitter or any other medium make an issue of my sexual orientation or LGBT issues. I’ve lived my life by treating others with respect and it’s been returned 10 fold.”

Joe DiPasquale, the CEO of multistrategy blockchain and crypto fund BitBull Capital and one of the founders of StartOut — a nonprofit that empowers LGBTQ+ entrepreneurs in tech — echoed McNeal’s view that crypto is supportive of LGBTQ+ rights and emphasized that the technology’s impact on the way people govern themselves has an impact on social issues: “The crypto sector is more than supportive of LGBTQ+ rights — crypto is pioneering new forms of governance that can bring about advances in society more quickly,”

adding:

“From projects like Tezos which has developed more efficient ways to vote on-chain through delegates, to thought leaders who believe the blockchain and virtual nations can empower people and correct exploitation, many projects in the sector mirror the support that we see more generally from most forward-thinking technologists. While crypto is apolitical, Bitcoin itself bypasses the need for government control over money and central banks.”

Claire Lovell, the associate director of product management at Gemini, also outlined her view to Cointelegraph that crypto supports LGBTQ+ rights and that the philosophy behind cryptocurrency has the potential to shift power away from centralized institutions and norms that had previously been impervious

to change:

“I do think the crypto sector is supportive of LGBTQ+ rights. The crypto ethos is to remove those existing power structures that would seek to limit the rights or privileges of people. Personally speaking, of the five years I’ve been working in this space, I have not once experienced any homophobia from other members of the community.”

Empowerment

While several experts have reported the crypto sector to be supportive of its LGBTQ+ members, some are skeptical about crypto’s purported ability to help minority groups in particular. McNeal explained to Cointelegraph that what crypto does best is create a level playing field rather than appeal to particular demographics: “I do not believe digital assets or Blockchain Technology does anything unique for the community than it does for any other demographic,” adding: “It has no respect for the person, it was and is created for all.” For BitBull’s DiPasquale, blockchain not only has the potential to change the way that people manage their finances but also to bring about political change. “There are already projects applying the blockchain to voting and creating communities through it,” DiPasquale explained, adding that this presents an opportunity for

the LGBTQ+ community:

“So, blockchain is already involved in enabling more people to vote. When we enable greater access and improve the diversity of those at the polling booth, we’ll empower the LGBTQ+ community as well.”

According to a survey conducted by WNYC Studios, LGBTQ+ people have a worse financial outlook than their cisgender and heterosexual peers. More than half feel anxious about their finances, with up to 42% reporting that their financial prospects have caused them to feel depressed. A further 25% of LGBTQ+ respondents say that their sexual orientation has caused them to suffer financially.

For Gemini’s Lovell, continued attempts to increase inclusivity could help LGBTQ+ people improve their personal finances: “Targeted outreach to the community with more education around the benefits of crypto and why it’s an inclusive asset class could help open up the space to more people in the LGBTQ+ community.” Lovell also told Cointelegraph that using cryptocurrencies and blockchain-based financial products can help sidestep some of the barriers that affect the LGBTQ+ community, as well as that using nontraditional banking methods such as decentralized finance can actually be more financially rewarding than banks found

on Main Street:

“Participating in cryptocurrencies and blockchain projects allows one to opt out of the financial power structure of big banks to create your own economic network. This helps increase access to financial tools. For example, one can use DeFI tools to earn much higher interest on their capital than they can receive from banks, and anyone can participate. Compounding returns is an important part of creating wealth.”

Representation

While the crypto sector may well be supportive of LGBTQ+ rights, there is still a lack of visible representation among company leadership. And while this is due in part to a lack of diversity, for many, being LGBTQ+ is something completely private and is kept as part of their personal lives. While BitBull’s DiPasquale told Cointelegraph that many crypto companies have LGBTQ+ staff already, McNeal said that representation should be increased

based on merit:

“I am not a fan of hiring for hiring sake, if a person can show up and compete — they should lead. That said, we can’t truly know if the representation is up or down since many may not be public about their sexual orientation.”

Gemini’s Lovell told Cointelegraph that it is perhaps not overly surprising that minority groups are not overwhelmingly represented in niche industries such as crypto but added that she felt LGBTQ+ engagement would grow in tandem with

wider adoption:

“LGBTQ+ minorities are a small percentage — just 10% — of the population, and crypto is also a small community of workers. Right now there aren’t that many LGBTQ+ people in the crypto community. That being said, as digital currencies continue to grow and new opportunities arise, I have no doubt we will be represented at every level. I’m proud to say that at Gemini there are several senior employees who identify as LGBTQ+, including me!”

While it’s clear that efforts are being made to make both the tech and crypto sectors more inclusive and openly supportive of LGBTQ+ people, some argue that there is still a long way to go. For Open Privacy’s Lewis, more conservative views of sexuality and gender boundaries still prevail. Lewis told Cointelegraph that those hoping to challenge these preconceptions still face an

uphill struggle:

“Can people shed the chains the cisheteronormative concepts of sexuality and gender and begin to decentralize the power that they hold? Perhaps, but that is a slow process and one that is not for the weak or those that lack the will to power.”

Be sure to check out the live discussion titled “LGBTQ+ and Blockchain: Community-Powered Tech and Tech-Powered Community” on Cointelegraph’s YouTube channel.

Article Produced By
Joseph Birch

Joseph Birch is a freelance journalist. He’s interested in how blockchain has the potential to radically change the world we live in and the transformative power of crypto.

https://cointelegraph.com/news/lgbtq-in-blockchain-crypto-a-safe-space-with-room-for-more-inclusion

Thomas ClaimCo.in

Chainalysis Report: Tether Could Be Enabling Capital Flight From China

Chainalysis Report: Tether Could Be Enabling Capital Flight From China

The East Asia crypto market has reacted fast to news of Beijing’s national digital currency and regional economic tumult.

Cryptocurrencies — and Tether (USDT) in particular — could be playing a key role in recent capital flight from China,

according to a new report from blockchain analytics firm Chainalysis. The report states that over 44% of crypto transactions in East Asia are conducted with counter-parties within the region, making it “the closest we have to a self-sustaining market” in the industry. However, over the past 12 months, East Asia’s relative share of global crypto activity has begun to decline, with over $50 billion worth of cryptocurrency leaving China. Grayscale director of research

Philip Bonello said: 

“It appears that users in many regions use stablecoins to access U.S. dollars for cross-border payroll, remittance, and capital flight from local currencies.” 

Since Beijing’s 2017 ban on direct conversions of yuan for cryptocurrency, the U.S. dollar-pegged stablecoin Tether has served as a popular stand-in for fiat for traders in the Chinese market.  Relative to other regions, East Asia has the lowest share of on-chain volume devoted to Bitcoin (BTC), at 51% of transfers by volume. The rest consists of stablecoins, 93% of which is USDT. While yuan-USDT trades are, strictly speaking, also prohibited, OTC brokers continue to sell the stablecoin to enable traders to lock in their gains from crypto trades without worrying about price volatility. In June of this year, Tether outflanked Bitcoin to become the most-received digital asset by East Asian addresses. In the East Asian market, over $18 billion worth of Tether was moved to addresses based in foreign jurisdictions over the past year. How much of this reflects capital flight remains difficult to conclusively establish.

Analysts claim that the yuan’s fluctuating valuation over this year and tensions amid the ongoing U.S.–China trade war could be spurring local investors to evade capital controls. Beijing bars citizens from moving more than the equivalent of $50,000 out of the country each year. The government has meanwhile cracked down on routes for offshoring capital via foreign real estate investments and other assets, leaving cryptocurrency as a possible alternative.Other contributing factors include uncertainty as to how Beijing’s forthcoming national cryptocurrency will impact the private digital asset market. Chainalysis suggests this may be driving China’s cryptocurrency community “to move portions of their holdings overseas.” 

Primitive Ventures founding partner and regional expert Dovey Wan said that when it comes to Beijing’s approach to new technologies, “undertones matter”: “It’s important that [President] Xi talked about ‘the blockchain’ but not ‘Bitcoin.’ It implies that the digital yuan will be the only official, state-sanctioned cryptocurrency and dampens the view of crypto as a private asset.” Chinese state policy toward crypto has long been shaping which assets traders use and why. In commentary earlier this month, American broadcaster Max Keiser also claimed that geopolitical tensions were spurring capital flight out of Asia — though he cast the spotlight on Bitcoin, rather than stablecoins like Tether. “Capital flight out of Asia taking the Bitcoin express,” he said, as the asset rallied to hit $12,000.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/tether-could-be-enabling-capital-flight-from-china-says-chainalysis

 

Thomas ClaimCo.in

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