The Bitcoin Association of Australia leaves the Bitcoin ...
Survey Responses Are IN!
I want to thank everyone who replied to our survey! Your feedback is extremely valuable! Here are the results and how they're helping shape our direction.
What goals would you like to see us accomplish? What's most important to you in how this Quadriga situation ends?
This was an open-ended question and the answers varied widely (and there was definitely a lot of responses which mentioned multiple goals). Here's a summary:
65% mentioned recovering losses for affected users.
45% described a desire to get better standards on Canadian exchanges.
30% included justice for victims.
25% desired education on crypto-asset protection.
20% had the creation of the new exchange.
The justice theme has been entirely overlooked by what we're doing. Discussing the idea on the Quadriga Uncovered Telegram group, it was determined that there was definite interest in a potential letter-writing initiative. One possibility would be sending letters to the RCMP to request the exhumation.
Is there any part of our initiative which confuses you?
Almost universally, there was no mention of any confusion. The feedback we did receive:
"The website landing page could provide an executive summary of the key aspects of the initiative".
The front page was last updated March 30th. We are constantly experimenting and improving the front of the website and our presentation of ideas and welcome any insight.
"I was worried with the proposal to have a token for affected users. The intention may be ok, but tokens and ICOs have a bad reputation for being scams. I confess that I didn't read the website of the Initiative, but from communications, I didn't see the association between the Initiative and the official committee."
We should make clear we are fully separate from the bankruptcy process. There is no tie to the official committee, although we have gotten their feedback throughout. This is an opportunity for the business community to provide additional help for victims.
We are contemplating the need for having blockchain-backing, however it does provide the ability to have greater transparency in the distribution/supply, more control in the form of a multi-sig smart contract, and easier liquidity options.
What we are doing is fundamentally different from any ICO. Tokens are distributed 100% free against verified losses. Redemption happens over time for utility (products/services) or goodwill (best-effort redemption) and it's always a fixed value of $1.
"Generally i understand. Confused about progress and value offer to crypto enthusiasts."
The initial (very first) value proposition for the tokens will be the ability to offset trading fees on the partner exchange, where we expect that traders may adopt having a small stash to cover their trading expenses as they trade. From there, we have other businesses interested in accepting partial payment in tokens. Basically, tokens are spent in place of dollars to get a discount at participating businesses which wish to support affected users.
In terms of progress, we are still waiting for three things:
Partner exchange full launch.
First bankruptcy payout to complete.
Reaching 1,000 signups (as necessary for our deal).
Please feel free to reach out on Telegram and Reddit if there are any further questions!
Is it more important to you that we focus on (a) helping victims of Quadriga recover, (b) educating more people about Quadriga and other exchange fraud, or (c) preventing future exchange fraud events like Quadriga?
Of the first or only choice picked, 70% chose (a) helping victims of Quadriga recover, while 30% chose (c) preventing future exchange fraud events like Quadriga. (a) was mentioned in 80% of cases, and top choice in 70%. (b) was a second choice in 30% of cases and mentioned in 35%. (c) was mentioned in 65% of responses and top choice in 30%. The educational portion of our initiative was seen as the lowest value. We are floating the idea of replacing the Education goal with a separate Justice goal, which is composed of letter-writing and other advocacy to help speed up any potential criminal investigations.
What bothers you most about Canadian cryptocurrency exchanges?
The responses varied widely. Here's a selection:
"The lack of unbiased information on how trustworthy exchanges are."
"The lack of transparency."
"that they are unregulated"
"I only use a non-custodial exchange now (Bull Bitcoin). The inertia and apathy of the government bothers me a lot. After Quadriga there should have been an inquiry. Even my emails to MPs Marie-France Lalonde and Bill Blair got no response. It's not realistic to wait for exchanges to 'self-regulate'."
"Terrible for trading and unreliable"
"Where is the regulation and oversight?"
"It's difficult to know which one is safe and w[h]ich one is not. It's easier to go to a bigger exchange (eg. Binance, Kraken, ... ) who has a solid reputation than Canadian one (at least for now)"
"Slow volume, difficulty to access for some, security"
"Security, trust, support, education"
There is clearly a lack of satisfaction.
Should preventing events like Quadriga focus more on regulatory reform (working with regulators) or trying to create change through setting the example on one exchange and go from there (similar to how "Tesla" has electrified vehicles)?
40% of respondents desired an approach which included both aspects.
40% of respondents desired an approach of setting an example in one exchange.
20% preferred a regulatory approach.
"(c), creating an independent classification/review system that would allow users to know which exchanges are most trustworthy, and to force less trustworthy ones to shape up."
There are a few such services out there. Key issues are that these opinions can be influenced by referral bonuses, the exchange reputations change over time (as was the case in Quadriga), and there is limited information on which to base the evaluation. Many reputable third parties have recommended shady services that subsequently failed.
Pressing forward on both fronts appears to make the most sense.
Would you rather have the recovery run inside of a for-profit exchange (sort of a marketing/promotion idea to push people onto a safer exchange) or as an independent group of affected users pushing for our own interests (working with the safer exchange and other businesses potentially similar to a labour union or political advocacy)?
The end result:
The majority (55%) prefer to have the independent group advocating for affected users.
A minority (35%) prefer to have it run in a for-profit/promotional way inside the exchange.
There were 10% of responses indicating both would be acceptable, or no clear preference.
We will be working to run this independently, however working closely with our partner exchange as a joint project (and it is definitely a promotional tool for them).
If given the choice, would you prefer (a) $20 cash each year for 10 years (slower recovery with full choice), or (b) your choice of $200 worth of discounts on products/services that are donated by small businesses which you could use this year (faster recovery with less choices)?
60% indicated a preference for (b), and 40% had the preference for (a). There is clear interest in focusing on both, which will push the fastest and most flexible recovery.
Affected users have a liquidation option which allows non-victims to purchase their tokens on the exchange. How do you feel about charging non-victims a small fee (5 cents per token) that is split between funding the project and a pool for affected user payout?
50% expressed outright support for the idea. Below are more detailed responses and comments:
"indifferent, although I think any fee will end up factoring in to the exchange rate on the value of the token. If people are willing to pay $10 for a $15 coupon, then a 5% fee might mean they'll only pay $9.50"
This is undoubtedly true. In your example, 25 cents would go to the project, 25 cents to affected users, and $9.50 to the seller. As opposed to $10 going to the seller.
"I am not yet clear on the cost structure of the proposed solution. Has the cost of managing the recovery effort been accounted for?"
It hasn't been properly accounted for, and this is one possible solution.
"I think that it is more important to have broad communication, reaching out to public at large and crypto communities in other countries. Then there should be multiple ways for different communities to contribute financially to affected users. I don't like the idea of fees and tokens because it seems to distract from the larger tasks of communication, rallying, documenting and advocating."
You bring up great points. Outreach is important, as is flexibility in approach. If you have more concrete ideas we would love to consider them!
"Good idea, but it restricts the on boarding of new users"
This is a fair point. The hope is that those participating want to help.
"I would prefer to avoid this option, Unless we can show that there are many added benefits from using this platform over others, thus justifying the fees and making it more acceptable to users."
Absolutely. Hopefully there will be many added benefits.
"I think it a good idea, fees will go anyway to affected users, I totally agree"
Awesome. That's definitely the intent.
"better not tax when tokens are transferred to the blockchain - tax the transaction (something small, in order not to affect the volume/liquidity too much) like what they are doing with the flight tickets in Quebec"
Absolutely! This would be a transaction cost only.
At the moment this has not yet been agreed upon by the partner exchange.
Have you discussed the project with anyone else who lost funds in Quadriga? What kind of feedback are you hearing?
40% said they've discussed it. 40% have not. 20% didn't answer (or it was hard to understand). Some of the responses:
"only online, and there there seems to be some confusion about the projects goals, some concerns about the connection to a for-profit exchange, and a general 'one bitten twice shy' mentality."
"Yes, Matt and my spouse. The problem was foreseeable. We just all ignored the risk because we were sold on the simplicity. The first red flag I saw was that accounts could be reloaded through an entity in China, which did not make sense, but I ignored it because of my perceived impression of protection given that the operator was in Canada."
"Yes - most have given up hope of recovering funds"
" I can't follow the chats on Telegram. I gained no knowledge the times I tried to read the discussions there. In fact the discussions there seemed to be not very polite. I wasn't able to connect with any other affected user. I wish there were some more structured gathering. Maybe a webinar would be nice."
Note: This sounds like it may be talking about the separate and more popular Quadriga Uncovered Telegram group. We would be very interested for any examples of impolite discussions on our Telegram group.
"This recovery process started out fine, but has turned into a circus show as is usual with lawyers who naturally want to stretch cases out to steal more money from victims."
"Not for now, I don't know any other victim (except members of Quadriga initiative)"
"Its your fault for keeping it on an exchange, what did you think was going to happen. There will be no money left after the 'bankruptcy'.. Lightning will solve all these problems other than recovery of funds."
Many affected users have strong privacy concerns and shame regarding what happened to them, such that they are even hesitant to share basic details. What do you feel is the best way to build trust and openness among the affected user community?
Here are some of the replies:
"I really don't know. Keeping things as anonymous as possible might help, but then the project would also need accountability to show that most of the tokens weren't sent to your own account. It's a tricky problem."
Absolutely. We also need to consider the various ways the project could be defrauded.
"What you are doing now. I am just not clear on the sustainab[i]lility of this effort without appropriate financial support."
"We all lost. We got burned. No shame in getting burned. It happens."
"There must be a way for affected users to connect to each other. Communication is the foundation, and it can be done preserving privacy. Some ideas include a webinar, chat tools that preserve privacy, etc. I heard of the documentary but I don't know what will be there. I think it is important also for the public at large to know how Quadriga affected users. That is, it's important for some personal stories to be published, ideally in the mainstream press."
We have Telegram, Reddit, and Twitter. A webinar would be great! There have been a number of mainstream news articles on Quadriga, although it's not well known outside of the crypto community. We welcome any further ideas for platforms.
"I would use the angle that crypto will continue to gain traction as time goes on, and that although the affected users were victims of a terrible fraud, we have an opportunity to prevent this from happening to others. I would also use the fact that this initiative has gained a considerable following and that affected users are all in this together, whether we want it or not."
"Maybe a guarantee that nobody will be further persecuted would help."
Hopefully no affected users are persecuted. Who's being persecuted?
"I don't know what else could be done for now."
"Just let us go forward."
"Once you demonstrate positive effects (and communicating about them), and set up ways to contact you securely, the users who have privacy concerns will contact you. You should have anonymous way to communicate with you (maybe using memo.cash?)"
Feel free to use an anonymous handle for any communication with us via Reddit, Twitter, Telegram, or email.
"Simple questions, good job :). Wonder about the stages of loss/gr[ie]f. Maybe the stinging pain needs to subside before people will trust."
Notes: Percentages rounded to the nearest 5%. Thank you very much for everyone who took the time to respond! We will continue to study your answers as we move forward!
Weekly Update: $PAR events galore, Parachute Treasure Hunt Winner, Arena Match Roadmap, SelfKey on ETHoutlet... – 18 Oct - 24 Oct'19
Hiya folks! Long time since I shared a weekly update. Let's see if I can catch up with the latest in the next few days. Wish me luck. Here’s your week at Parachute + partners (18 Oct - 24 Oct'19): This week’s Parena saw rageagainst take home a cool 50k $PAR by beating Ryan in a quick finale battle. The ParJar Battle Royale for our newest ParJar Pilot partners was this week. A ton of fun and a lot of $PAR (and $AMGO) tipped out. The official numbers of the $AMGO airdrop is out. The event which happened few weeks back saw 27k new ParJar wallets receiving the drop. Sweet! In this week’s TTR trivias, we saw 25k $PAR given out in MrPromise’s 10 question physics quiz, folks getting bamboozled in Charlotte’s Math trivia (10Qs, 2500 $PAR each), Doc Victor’s Video Games and War quiz seeing a participation frenzy for a 25k $PAR pot for 10 questions. Plus, Benjamin hosted a 10Q, 25k $PAR pot trivia based on the 2nd edition of the Parachute Post that he wrote. Even if you didn’t win, you definitely know more about Parachute and ParJar now. Thanks Ben! Jose is making a Parachute CS map (de_parachute). Awesome! Gamers get ready KellyBoy won 12,500 $PAR in Jason’s first ever raffle. Another first ever this week was Jason’s #WholesomeWed initiative: participants win $PAR for writing “about what they like about where they live”. Higher tips for photos, descriptions, stories, poems. Thank you Andy, Jason, Trojak, Nico B, Jeff Crypto, Gisele, Andhrew666, Reyna, Tavo (Gustavo), Cap, Zion, Lordhades, Marcos, Evangelina, Jose, Doc Victor, Saman, Richi, Shirin, Elena, Charlotte, Borna, Gl1tch, Bose Grace, Naya, Fadlan, Hanabi, dontouchscreen, Martha, Mariuska, Maiden, Jorge, Abdul, Labyb, CF (not Crypto French :p), Rin, Annerys, Mike India, Santhi, Adrian, Alexis, Frank, Glox, Muksin, Shaq Diesel, Alanys, Daniel, Brian, Yoleidis and Alejandro for the pictures! The Parachute Treasure Hunt finally has a winner. Congratulations to Justin Tobin for winning a boatload of crypto! Also, great teamwork by Harry, Edson, Unique, Reuben, Alimam and Doc Vic for getting the 2nd position. Two-for-Tuesday is back! This time in Parachute. This week’s theme was Rap/Reggae/Reggaeton. Super fun as always, Gian! PARachuter lunch. PAR is everywhere #PARroundings. Pic courtesy: Sebastian aXpire announced this week that they were joining the Oracle for Startups ecosystem. This initiative helps startups grow by leveraging Oracle’s PaaS and IaaS platforms. Watch the latest weekly update from Joakim by clicking here. The weekly 20k $AXPR burn can be tracked here. The team also opened up a question form for an AMA next month. Last week, we shared that $BAT is now tradeable/spendable/sendable on 2gether. Read more about it here. The latest feature in the app allows you check price history of cryptos. Neat! Participants of the Crypto Talent competition, don’t forget to check out Salva’s video on foundations of the economy. Founding Partner Luis Estrada will be speaking on AI, Cloud and BigData at the eShow in Madrid next week. Following and chatting options are now live in the WednesdayClub dApp. Noice! The latest WandX update covers developments from the strategic front, especially how the team is navigating the challenges of cross blockchain applications and regulations vis-à-vis Dex’es. As mentioned in the previous updates, XIO will not switch to Binance Chain and will continue to remain on Ethereum. Zachary explained in detail the events that lead to the decision in this article and video. There will still be a token swap but it will be an ERC20:ERC20 token swap to filter out inactive wallets. Details on how to do the swap will be shared in future updates. The first set of XIO incubated startups are also slated to be revealed soon. If you wish to receive regular XIO mailer updates, make sure to register as a Citizen here. Uber cool gif, Jimpanze! This week’s community discussions revolved around utility vs adoption, liquidity pool on Uniswap and multi-collateral XIO. \"First sneak peek at some conceptual UI/UX of $XIO\". Nice! $HYDRO is now tradeable on Liquid with a $BTC and $EUR pairing. Deploying Hydrogen’s PaaS for your fintech needs could lead to massive cost savings. Read more about it here. Dedicated socials and website for the Hydro Labs were launched this week. Plus, a Turkish blog. The team travelled to Montreal for Fintech Forum Canada and to Madrid for the BBVA Open Summit. Ahead of the 2019 Fintech Awards in which Hydro is a nominee, the project was covered in an article by Benzinga. And a cool shoutout from Bank Innovation. Hydrogen is also a finalist in the Most Innovative Banking Technology Provider category of the Banking Technology Awards 2019. Woohoo! Hydro's webinar on financial wellness happened this week. The Hydro 2FA solution is now integrated in the Barginex trading platform. A sweet bugfix bounty of $10k HYDRO got scooped up within a day of announcement. Click here to catch up on the latest ongoings on the dev front at Silent Notary. Tech nerds, have a read of Sentivate founder Thomas Marchi’s thoughts on QUIC, HTTP, UDSP and have a go at his riddle while you’re around. OST’s Pepo app launched on Product Hunt and app stores this week. As influencers continue to join the platform, this week we got a chance to see Meltem Demirors, NiMA Asghari and Dennison Bertram in action on Pepo. The latest upgrade features browsable hashtags. OST Founder Jason Goldberg’s fireside chat with CryptoOracle co-founder Lou Kerner is scheduled for next week. OST-backed Pepo and Hornet are now live on State of the DApps. Ahead of the San Francisco Blockchain Week, which the team will be attending, a new bounty was released for attendees. Tons of $OST up for grabs! There’s also a cool bounty for 1k $OST for promoting your blockchain article. With Halloween right around the corner, Hydro office decorations are on point Click here to watch the Mycro design & development team work on the app’s processes. SelfKey’s $KEY token was listed on ETHoutlet this week. The listing will provide $KEY with an $HKD fiat on-ramp. Additionally, ETHoutlet also joined SelfKey’s Marketplace. ETHoutlet operates a Dealer Exchange (i.e. traders trade with the platform directly instead of P2P) and has a physical store where people can trade OTC by visiting the location. Want to identify an exit scam before it happens? SelfKey crew’s got your back. Check out their article to learn how. Constellation joined the Board of Advisors at the Portland State University this week as part of an accredited Business Blockchain Certificate program which is also the world’s first such university accredited program. Congratulations! BAGS token group had their 6th Bazaar Upcycle event this week. Plus, a ton of $BAGS were given away for trivia and stickers contest. The Arena Match Fall 2019 Roadmap was published. Some of the updates that will go live are – CS:GO ranked matchmaking, replacement of credits with straight cash in/out (with an optional AMGO toggle), enhanced Perks, new UI, on-demand servers etc. Lots in store! Big up to Pynk for winning the Wolves Summit Pitch Competition. Click here and here for pics from the event. Last week we talked about Pynk's feature in BlockMAG published by the Malta Blockchain Summit. Here's the full scoop. Plus, a cool shoutout from Founder Institute. P.S. Pynk is an FI alumnus. Arena Match new dashboard prototype mockup Birdchain announced a copywrite contest this week. Cryptowriters assemble! The team also shared its marketing roadmap. Switch partner McAfeeDex now has 10 portals live with more in line for release. The next updates will contain multi chain support + Onion portal. It is also the 37th most popular ETH-based dApp on DappRadar. Plus, a chance to win 1k $ESH. More media coverage of the McAfeeDex from Bitcoin.com, CoinTelegraph, Blockonomi, The Daily Chain podcast and BLOCKTV this week. Plus, the first decentralised IEO was launched on the Dex. If you missed Fantom’s AMA with CryptoDiffer this week, here’s the transcript to get upto speed. The latest research paper from Fantom's partners at Yonsei University talks about The Economics of Smart Contracts. Have a read when you get a moment. Uptrennd will be introducing a more robust verification system for withdrawals to ensure that the platform stays fair and keeps bad actors away. In addition to the Malta Blockchain Summit, Jeff will also be travelling to CMC’s The Capital and BlockShow this month. In case you get to meet him at these events, chances are you could win some $1UP in the process. Woot! Click here to check out the entries to the video intro contest started last week. Uptrennd now has a Subreddit as well. Starting this week, the crew will be publishing regular TA reports based on community votes. 1UP was voted for the first report. Blockport’s $BPT/$ETH trading pair was discontinued from KuCoin this week as requested by the project. The $BTC pairing will continue to operate on the exchanges. Click here to catch up on the latest district weekly from District0x. And that’s a wrap for this week in Parachuteverse. See you again soon. Cheerio!
Dear Pundians, Thank you for participating in the AMA session with Pundi X co-founder and CEO Zac Cheah. For those of you who may have missed it, the live recording of the AMA session held on July 3 at 10:00 am GMT+8, tackling Q2 progress and addressing questions and concerns by the community members, can be viewed here. A side note that today’s AMA video quality and setting was not ideal. We acknowledge this situation and will make improvement for our next AMA session. You may also find a summary of the Q2 progress presentation as well as all the detail Q&A below. ## Pundi X Q2 2019 Highlights * Pundi X has integrated more public chains into our products. In Q2, we completed integration of Binance Chain. NEM chain is in the work. As of today we’ve launched BNB, the Binance Chain native Coin and XEM, NEM native coin on Pundi X payment platform. We will integrate at least one more public chain in Q3. * The transactions on XPOS for Q2 is 15.5 million in USD, which is close to 300% quarterly growth. The number of transactions is 29,367, which leads to a 11% growth QoQ. * XPOS has successfully received FCC and KC certifications. A new certification for Latin American market is on the way. * To expand XPOS footprint, Pundi X’s integration with a new leading mainstream point-of-sales device is in the work. Stay tuned for the announcement. * Pundi X Open Platform was launched in May, 2019, which now supports ERC20 and BEP2 token listing. Moving forward, we will continue to support tokens from other public chains. * A 3,000 XPASS order from DigiX, a gold-based token, and a 10,000 XPASS order from BitCobie this quarter. * XPOS is spread in use in over 30 countries. We’ve published a map of XPOS location of self-report XPOS merchant directory. You can find a list of selected XPOS merchants at [https://www.pundix.com/products\](https://www.pundix.com/products). * The QoQ growth of XWallet is tremendous at 43%. In the previous quarter, we have less than 20k users, whereas in Q2 we have hit 297k XWallet users. More updates on XWallet: * Supported BNB and NEM tokens; 2FA, face ID, and optimized SMS serviceAvailable on iOS, Android as well as in Samsung Galaxy Store New features coming up in Q3:- DApp integration - Decentralized wallet- In-app crypto payments - Chat service, which will be compatible with a commonly used chat app- f(x) testnet features to be rolled out first in XWallet ## Other notices coming up in Q3 2019 * The Q2 token removal will take place on July 14, 2019, which will involve in total 34 billion of NPXS and NPXSXEM (22 million worth in USD) removal. In the past 365 days, we’ve removed a total of 36.1 million US dollar worth of NPXS and NPXSXEM. Before Q2 removal, the total supply of NPXS ERC20 is 266,962,422,906.53 and NPXSXEM is 95,816,218,929. [See Q1 removal here.](/pundix/recap-of-ama-with-zac-on-july-3-and-q2-report-a23de165dd28) * [NPXSXEM will be ported to Binance Chain from July 20](/pundix/npxsxem-will-be-on-binance-chain-c6485f17726b). * XPhone pre-order will start in late July with a new product name. Stay tuned. Check out the teaser video that we are releasing it across our communication channels. ## Q&A ## On XPOS * **Where are we on official global location of XPOS?** Zac: We have made a map on our official website that merchants can self report and feature their locations. It’s at [https://www.pundix.com/product\](https://www.pundix.com/product). We’ll be increasing and updating the map once we have permission form the merchants to update their locations. * **The marketing from pundi has shifted from 100,000–700,000 xpos units by 2021 to 100,000. I understand the bear market has affected this but please share the strategy moving forward to hit your goal. How do you feel about hitting this goal?** Zac: The 100K XPOS target has always been the initial goal and it’s stated in our whitepaper. And we are still working on achieving the goal by the end of 2021. Part of our growth strategy is to also explore the possibility to port our platform to traditional POS manufacturers to increase the adoption, which is ongoing at the moment. * **1 year ago you sent 5000 XPOS somewhere. When, at least half of them, will be working? 3 year target was 100,000 by 2021. Now we have only 150 units, how do you expect to reach this goal?** Zac: Yes, we have shipped thousands of XPOS to over 30 countries in the world. The 150 you’ve mentioned are the featured merchants which are published on the map. The active XPOS devices are deployed over 33 countries and we are actively talking to B2B partners to have higher wholesale and big deployments. * **How many XPOS are live and used?** Zac: We have gone through a very serious bear market, and some of the initial inbound requests for XPOS are not delivered. However, we are working slowly but surely with our Business Development team to not just roll-out into individual buyers, such as what we did on Pizza Day, but also to B2B partners. With the certifications approved, that will also help us to officially roll out to some of the key markets. Individual merchants can use XWallet collection feature to accept crypto payment with QR code. For the merchants who have physical offline storefronts, they can use XPOS to enable the instant crypto transaction seamlessly. Moreover, as mentioned previously, we are exploring the integration on leading traditional POS terminal so that their distributors have option to enable crypto transaction feature. As for the challenge to adopt XPOS, it is the regulatory compliance in different countries. For this, our legal team think ahead and encourage our merchants to complete KYC. I must be very honest to say the activation takes longer time than we expect but it will be worth at the end. * **What’s the average number of transactions per xpos in use?** Zac: The transaction number has increased very well. The number of each XPOS differs, due to the frequency of using crypto currency to purchase item or crypto assets. There’s no standard answer to this, but overall we see the transaction number and volume are going up. * **How do you plan to reach the target of 100,000 by 2021?** Zac: One of the challenges that we have is regulatory compliances in different countries. There are certain markets that do not allow crypto currencies and some require a clear approval for us to deploy XPOS. We are working on both challenges by talking to governments and applying for certifications. So how we plan to reach 100,000 XPOS user by 2021 is to work with distributors, B2B partners on a government / business level, and with existing POS companies to integrate our software solution into the system. * **We understand as there was bear market and hence Xpos usage demand was low. Are you guys seeing growth of Xpos usage with current market conditions. Can you guys put some statistics comparison like last 30 days Xpos usage vs any month from bear market usage?** Zac: It is very clear that as we moved out from the bear market, the demand for XPOS has been increasing. As we’ve shared just now both the transaction number and volume of Q2 have beaten Q1. We’ll be able to share more transaction numbers once we receive approval from our XPOS merchants. One exciting thing is that, with the listing of different tokens, we also see users using these tokens as a way to transact on XPOS, which means we will be having more ways to transact and this is a growth point for XPOS. * **When will there be more details for XPHONE and XPOS HANDY?** Zac: For XPOS handy, we have finished production and it will be released in Q3 * **When will the iOS version of XWallet and XPOS be fully translated to other languages?** Zac: Right now, the XWallet has Traditional Chinese, Korean, Spanish, German and English. With the latest version update, it now includes Portuguese. XPOS also comes with many languages and we hope to finish with more language, either working with professionals or volunteers. If you’re interested in volunteering, please contact us. * **When will the Merchant back office have Product Registration and SKU id ability and also integrate with other POS software?** * **When will the top-up feature go away for XPOS to allow liquidity for XPOS** Zac: We constantly update features in XPOS and merchant backend to make it easier for distributors and merchants to use. We understand that one of the ways for mass adoption is to enhance our distributor management system. With that, the distributors can manage manay XPOS at one time with different merchants. Please stay tuned as we announce more and more functions of this feature. ## On Dubai * **When will we see the deployment of the XPOS in Dubai?** * **Can we spend NPXS on the Dubai XPOS?** Zac: As with all big projects there are a lot of moving parts, that includes working very closely with the local government, in Dubai’s case, the Credit Bureau of the Finance Ministry. Things are progressing for the Dubai project but due to confidentiality agreements with the parties involved, we cannot reveal much. All we can say is that we and our Dubai partners are working hard to have XPOS roll-out in the Dubai market and the UAE. We are also discussing aggressively with Dubai partners whether to include crypto assets in the XPOS in Dubai. That clearly will involve local compliance and legal for that to happen. * **Your system upgrades expect merchants to have downtime on their XPOS terminals, can you explain if you plan to run a business why this would be considered feasible (specially at the rate you have been doing your upgrades)?** Zac: Yes, the benefit / strength of the XPOS is that most of the updates can be done on the fly. For example, when we have a token update on our XPOS where developers submit their tokens on Open Platform, the updates of this token are on the fly, which means that once we approve the token on our Open Platform, it will automatically appear on XPOS without any software updates. The great thing that we believe about XPOS is not just the support of crypto assets, but also the ability to update most things on the fly, which means that whenever we have a good feature or a new token, the updates will be done instantaneously. * **Can you guys arrange at least a community voting which is the next blockchain we would like to see next in XPOS? Voting will help to prioritize to chose the projects.** Zac: One of the reasons why BNB is being listed on the XPOS is simply because of its popularity and also our user demand, in a way that we are already answering to our community’s request. Right now, our main focus is getting all the tokens submitted on Open Platform to be listed on the XPOS. The submission process includes legal and compliance valid, so our legal and compliance teams are working hard to make sure that we have more tokens to roll out onto Open Platform, which means that they will be on XPOS, XWallet, and XPASS. As to a specific voting mechanism, we’d like to consider that and hopefully we’ll be able to run a specific voting for the chain which users would like to see. * **While comparing Xpos handy to Square POS devices at least with mobile it’s very cheap like under $30 and easy to use. When can we expect such light weight and cheaper version for XPOS? Is team working on such devices ?** Zac: There are different POS companies around the globe and pour focus is to work with these POS companies with our software, so that a crypto sales feature will be part of the existing POS system. The more support of crypto asset usage using our software on existing POS, the better it is for global adoption. We actually strongly believe that the pricing of our POS system is competitive in the market. And one of the great features of the XPOS is that the merchants will not need not to pay a certain percentage to existing acquirer but to be able to earn certain percentage from each transaction. That is the key differentiator for merchant to want to adopt this. * **From the website with some of the key Countries for XPOS adoption looks great. However, the concern is for Venezuela, there is no reference link like the others have. Can you guys add the link with details to clear the ambiguity?** Zac: Let’s give a little bit more patience so that we can actually release more information about our Venezuelan partnership. The good news is that we expect concrete news from Venezuela in the coming 2 weeks. So stay up-to-date about our Venezuelan roll out on XPOS, the best way is to subscribe to our telegram group for Venezuela. ## On Partnerships * **Are there some major partnership in the works? I’m also interested in how you do immediate transactions? Do you anticipate scaling issues?** Zac: The way XPOS is being designed is that when you use your crypto assets to purchase, it will have instantaneous confirmation because the action is an off-chain process. An on-chain action happens when a user who owns crypto assets in our system transferring the assets out of the Pundi X ecosystem to their own wallets; or to transfer crypto assets in Pundi X from an off-chain to a private wallet, which we will have very soon on XWallet itself. That is why we are able to handle scaling. When a person wants to use crypto currency to buy a coffee, the transaction will happen instantaneously. For specific partnership, especially with B2B partnership, we oblige to the NDA that we have signed. But if you follow us closely, you’ll know that we go to different parts of the world, talking to major companies to try to land more deals so that NPXS usage will increase dramatically. * **Any big partnerships for making xphone or using the software for xBlockchain?** Zac: These partnerships are also subjected to NDA, so please be patient for us to release more news. * **When will XPOS have approval to process Visa and MasterCard payments?** Zac: We have met representatives from these players including some of the key management people. They are obviously looking into crypto currency attentively, and we hope that there’s something we can do with MasterCard and/or Visa. This is something that the community has suggested and we agree fully. Please allow us with some time to work on this. We have also showcased XPOS to the CEO of MasterCard. For what or when will anything happen, please wait for our official announcement. * **What’s the status on Quantum fund and their contribution or involvement with Pundi’s project?** Zac: We announced last year that we are creating a fund to invest in projects beneficial to our ecosystem. We’ve identified some interesting projects, and we have invested in at least 1 project. The reason why we’re investing in that project is because of the services that it will bring onto the Pindi X ecosystem. So the purpose of the investment of the companies is that these companies in turn will benefit on our ecosystem. This is our key consideration. The team has evaluated the projects that will benefit the Pundi X / Function X ecosystem. Vic and his team will be able to reveal more details on the companies we have invested in and how they will contribute to our ecosystem in Q3. * **Recent update on NPXSXEM is highly ambiguous as mentioned that it will be now BEP token and later once FX goes live it will get back to Fx platform. Why you guys had so rush to use Binance chain only for few months? Isn’t you guys switching to much in a short time span?** Zac: Liquidity and utility have been an issue for NPXSXEM. Due to the design philosophy and the limit of token that can be created on NEM’s smart contract, we are only able to create a small number of tokens on NPXSXEM. By moving into the Binance chain for NPXSXEM, the BEP2 token version will be able to support all the NPXSXEM tokens, which means that we’ll migrate and also be able to make sure all the NPXSXEM tokens are under the same contract address. We believe with the strong liquidity, we will be able to give our NPXSXEM token holders a good reason of what the token holders have been waiting for. We hope to bring NPXSXEM to match the level of NPXS. * **When #XRP?** Zac: Our OpenPlatform is a currency agnostic platform, which means that we will work on integrating public chain as well as tokens that are most requested by the users. We’ll also be looking into the listing of different tokens that are being mentioned by the community. As said, we will have at least one more public chain integration in Q3, perhaps even more. * **Are you as a company going to try and connect with libra? If they have said they want to be a payment remittance service, have Square, PayPal, Visa on board I as an investor would prefer you try to join them rather than beat such large competitors** Zac: Of course, we’ll be delighted to work with Facebook and also the Libra coin. Pundi X and XPOS is a currency agnostic / currency neutral platform, if there’s opportunity to list Libra coin or work with Facebook in different ways to promote crypto currency adoption, we’ll certainly look into that and work on reaching out to them. ## On Trading * **Can you confirm during AMA, Pundi team is not involved with any trading with their own token like selling over time to manage the fund to run the company.** Zac: All the wallet addresses of the team holdings are disclosed and transparent. This is one of the first things that we did after ICO. Hence, our token holdings are transparent and everyone can monitor our fund transactions. Also, we have strict internal financial regulation and compliance, shows that we are here to build a long-term project. The best way to make NPXS or the NPXSXEM to rise is real daily life use case. * **When will you stop manipulating NPXS chart?** Zac: Our focus has always been and will be building great products. The more product usage, the demands for NPXS and NPXSXEM will increase. Let’s address again that, Pundi X the company is NOT involved in any manipulation of the NPXS price. There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market. The good thing about NPXS is that we have managed to create a high liquidity by listing on 40+ exchanges and having global trades and demand from all over the world. We hope this and coupled with the fact that we are a solid product and roll out the use cases, the demand of NPXS will only continue to rise and will be able to deter any of the traders or speculators there is for NPXS. These traders gain profit from manipulating tokens whether BTC or other tokens. In fact, the traditional financial markets have similar challenges as well. What I want to stress is that, we at Pundi X, do NOT speculate or manipulate the price. We work very hard to create demands for NPXS and as a company, it is only beneficial for us to see the prices of NPXS and NPXSXEM rise. * **Can we please address the elephant in the room which is the Binance bot with huge sell walls and buy walls causing huge distress and concern among users?** Zac: First, I cannot confirm nor deny that whether Binance has a bot. I think this is something that you need to ask Binance. We need to work with Binance because Binance has one of the biggest liquidities, if not the greatest liquidity, for NPXS. The best way to counter manipulators is to create more use case, more demand and more acceptance of our tokens. * **Why on almost all exchanges do you not offer a USDT trading pair?** Zac: We have USDT trading pairs on Bittrex, Bittrue, and more. In addition, we have fiat pairs in Korean Won, IDR, INR, and Turkish liras. We will continue to work on adding trading pairs for NPXS to make it more liquidate. * **Why don’t you offer a stable coin sell and purchase on the xpos to help with adoption? Places in Africa with volatile currencies would go crazy for this.** Zac: It’s a great observation. This is a request that’s been asked from many users. We’re working on stable coin listing on XPOS and hopefully it’ll come soon. Stable coin requires a greater compliance and legal validate, which we have been working on since months ago and we hope to have the stable coin up in XPOS soon. * **When will you add an active tracker for coin burn, whether its measured in usd, NPXS or whatever you choose. The community has been asking for this on twitter, reddit and telegram for this entire year.** Zac: It will be hard for us to have a daily tracker of the coin burn, but what we might be able to work on is a tracker which have shown all of the tokens that have been removed from the usage. Thank you for giving us this great suggestion and we will work on it in some form. Zac: Our token supply has always been specified in our white paper, and as promised in our white paper, we will continue to remove tokens through usage and use cases, which we’re working on all the time. * **Price movement. When will NPXS go to which price?** Zac: We cannot comment on the change of the price. Our focus is on building products. We hope by doing that the NPXS value will go up. Again, there’s no way that we can comment on the price. **I believe that burning tokens every 14 weeks keeps the price suppressed and will only lead to huge pumps and dumps. Imo, If the burns were more frequent, the price would move organically.** Zac: We continue removing tokens quarterly per advised by our legal and compliance team. **Is it mandatory npxs swap? What happens for token we have in binance?** Zac: No it’s not a mandatory NPXS swap for FX. **How many NPXS or NPXSXEM was converted?** Zac: In Q2, we will remove 29B NPXSXEM and 9B NPXS. ## On XWallet * **Why not put in XWallet like the place where we can buy and sell like restaurants and shops?** Zac: You are correct. In fact, if you look at XWallet, there is a merchant feature, whereby you can register as a merchant. By becoming a merchant, you will be able to print out your QR code and stick it on your restaurant. People are able to make payment through this QR code. This will act like a mini-XPOS. * **In addition to that having multiple different blockchain in XWallet will increase the XWallet adoption. Hence, we would like to see aggressive game plan and execution from the team and would like to hear that** Zac: That’s a great suggestion. Every day we want to increase use cases for XWallet. In fact, our XWallet update is one of the most frequent in the market. Within 5 months, we have over 10 updates on iOS and Google Play. This does not include soft update which happens every several days. In my view, the effort is very tremendous. * **Is there any plan to add Swap option within XWallet so that people can trade the coins within XWallet?** Zac: Yes, there’s such plan and in fact there is an upcoming feature that people will be able to use coins in XWallet to exchange into other things. The exact form and format have not been reviewed. We hope to share more when we have concrete example. But what you suggested is what we are planning for months ago. * **When will XPOS and XWallet have fiat on ramps?** Zac: This is a good question. It’s not only involved with regulatory compliance but also involved the technical part. This is also something we are planning for months. Once approved, hopefully we are able to support fiat currency on ramps and off ramps on XWallet. **On Others*\* * **How is the internal organization doing? Currently how many employees work for Pundi? Currently how many job positions are open?** Zac: Pundi X has grown tremendously. We are now having over seven offices around the globe. I’m sitting in the Singapore office. We have office in Jakarta, Taiwan, Tokyo, Shenzhen, São Paulo and London. These are the places we have physical offices and house approximately 100 full time employees of Pundi X. The positions open from Pundi X are legal associate in Singapore and other offices. We are looking for more R&D people, especially in Taiwan. We are looking at marketing and PR people in different parts of the world. And we are looking for POS distributors. As a POS distributor, you will work with our business development team and also our technical team to roll out many XPOS which you have a network to control in your local market. * **Would you consider removing the KYC to allow u.s. holder to stake and be rewarded?** Zac: We would love to have more users, including US. However, our compliance and legal advisors have not allowed us to accept US holders to stake and be rewarded. I’m sorry to say that but this is after serious consideration to make such a decision. In fact, it is a very hard decision because we have healthy user base in the US. will continue to monitor the situation in the different markets and be compliant. There are also ways to be rewarded when using XWallet service without KYC. We are looking into to explore more on this and launch new features. Hopefully we are able to bring the beta version for you to test this week or next. **On XPhone*\* * **Where are we on pre-sale announcement of Xphone? It was highlights of Q2 goal. If we are getting delay, that’s ok. But at least community will have some clarification why it’s getting late and when approximately it coming?** Zac: Pre-sale order will start this month. It’s likely the end of July. Pre-sale will take place in different channel including the official website and XWallet. Apart of our own channel, the pre-sale will go live on a 3rd party channel. People will be able to pre-order crypto either in crypto or in fiat. * **Can you discuss in AMA, is participants can pay with Crypto or Credit/debit card or in both ways?** Zac: As a crypto company, we prefer payment in crypto, but fiat, Visa, MasterCard, and other traditional payment methods will be accepted on different pre-order channels. Stay tuned for pre-order which will happen in late July. * **Will the Xphone be open to purchase in all regions of the world?** Zac: Yes, pre-orders will be able to be done on-line, and products will be shipped from our offices to users in different parts of the world. * **Will the blockchain mode on the Xphone be operable during the testnet or will this function not work until mainnet?** Zac: XWallet and XPhone are the first channel and avenue for Function X testnet, so once the testnet is operateble, we will start to engage certain services on XWallet and XPhone into Function X testnet, and ultimately into mainnet. Slowly but surely. * **Does Xphone have hard protective cover,extra Sim slot, also is it enhanced with ip68 water rating?** Zac: XPhone will not be waterproof, so please do not submerge XPhone into water. XPhone will definitely be eavesdrop-proof because we’re using a blockchain mode, only you and you control your own conversation. * **Which country accept the Xphone?** * **Will I also be able to use the SIM-card?** * **The blockchain modus will work in every country (what in the absense of nodes)?** * **Will the XPhone I buy now support updates in the future?** Zac: People from any country will be able to buy XPhone on-line. You will be able to use a SIM for we have built a SIM slot. Wherever you are, the XPhone can be turned on to become a node. Will XPhone support future updates? Yes, of course. Just like the XPOS, we support silent update. It will be like how we support XPOS, many updates. The updates will always be supported on XPhone. **On Function X*\* * **When is the detail white paper coming for FunctionX? Why the team is very resistive to have well documented white paper? We need scientific approach and well documentation on FunctionX to have developers to be more involved.** Zac: Yes, developer involvement is a key criterion of the growth of Function X. We have done 2 things, one is that we have set up Function X Foundation which is led by David Ben Kay and will involve third party adviser and board members. Second, we have set up a developer relations team led by one of our own members as well. This team will work on creating developer documents, developer demos and sample, so that excellent developers can tap into working with Function X resources. The first version of developer documentation is ready in English and Chinese. We are still polishing up the documents and hopefully to release them soon. We are also working with third party developers, and are engaging at least 2 third party developer companies, so that we can help create their services on Function X and also XWallet. We are hoping to showcase a smooth and usable service to the audience, we think this is the key criterion of the Function X growth. Thank you for this suggestion. We need to update more often on github developer documentation as well. As for the white paper, we did not have one per se because Function X did not do an ICO. But we will continue to update our white paper and include not only technical details, but also details on the chain and how we can get more developers and users so that the future hardware will be added as a node and you will be rewarded financially, at least through our ecosystem genesis fund. Please stay tuned and there are a lot of things going on in the company. Each and one of us is working hard. * **Why does the FX ecosystem need a decentralized OS?** Zac: The mantra of Function X is decentralization and having private control of your data. A full private control of your data comes with a decentralized system not just in transmission of your data, but with the operating system built fully for decentralization , which includes a transmission protocol replacing http. The apps uploaded into Function X will be decentralized as well as the data that is stored on the app, which means that how BitCoin or crypto assets are verified on different nodes will also be part of the way we store data and content. The decentralized OS is key to fulfilling a decentralized environment for a more private and free usage. * **What about FX are you most excited about?** Zac: We are actually creating a shift of how people view of blockchain and how decentralization is not just about transacting commercial commodity, but also data, including your identity, are all decentralized. That is what we are most excited about. The only way for us to achieve this is to have developer support, for we need the developers to build on the foundation we have to offer those exciting services. * **We understand that developing a new blockchain is time consuming. As a community we are in a dark space to understand where exactly the development of FX right now.** Zac: We are working hard on creating the testnet and eventually the mainnet. For the latest updates of Function X, what I can encourage you to do is to go on and subscribe to the Function X telegram group where discussions are made. We have formed the Function X Foundation and created the developer relations team, so that the Function X progress will go smoother and with more partnership from outside, whether it’s developers, third party companies, teleco, etc. * **When FX goes live on the mainnet, will FX coin be used to stake and earn NPXS? how will staking work on that new mainnet?** Zac: The NPXS/NPXSXEM staking will last till March 9, 2020 as announced. What we are committed is to create more use cases. For FX tokens, the use cases will be focusing on the Function X Chain and the use cases on Function X that include DApp on Function X and different hardware/software services. * **When fx testnet will be available?** Zac: First I would like to thank you for your constant support. In Q3, we plan to open Function X testnet so that we will be migrating and creating certain use cases that can be used on Function X testnet, starting with our own XWallet. Which means, the XWallet will migrate some features into Function X testnet, and slowly followed by our other Pundi X products, including XPhones, XPASS, Open Platform and Function X own developer related products from third parties.
Like any developing industry, the cryptocurrency world has its own stars and celebrities. StealthEX has made a list of the most influential people in the crypto world. So here are the TOP-5 people who are leading the digital revolution by transforming financial markets. https://preview.redd.it/yvwnnlx684c41.jpg?width=1024&format=pjpg&auto=webp&s=8bcafdde3a784060e7fff1d8bdf591861769d11f Brad Garlinghouse Ripple’s CEO, investor, businessman and a huge fan of blockchain technology. Garlinghouse was born on February 6, 1971, in Kansas, USA. He has a Bachelor’s degree in Economics from the University of Kansas and holds an MBA diploma from Harvard Business School. Brad has worked for some major technology companies, such as Yahoo, AOL, Hightail, Tonic Health. Nowadays he is the CEO of Ripple (a real-time gross settlement system, currency exchange, and remittance network) and a member of its Board of Directors. Ripple (XRP) is the world’s largest cryptocurrency by market capitalization and Brad as CEO owns 6% of the company’s stock. “There are a lot of really fabulous things that get done with digital assets and blockchain technologies to reduce friction, to reduce costs, and enable things that weren’t possible before.” Brian Armstrong CEO and co-founder of the Coinbase platform, software engineer, risk manager, and public speaker. Brian Armstrong was born in 1983 in San Jose, California. Armstrong was interested in technology at school and learned Java and CSS at an early age. He got his first job at school: he created websites for local businesses. In 2001, Armstrong joined Ryerson University in Houston and studied economics and computer science. After graduation, he was an intern at IBM and then worked as a consultant and risk manager at Deloitte & Touche. Later, he founded the UniversityTutor.com, which allowed users to search for a suitable tutor based on various parameters: education, location, and topics. Brian also worked as a software engineer at Airbnb.com. Great success came to Brian with the creation of a digital currency exchange platform – Coinbase. Today Coinbase serves 9.5 million customers in 32 countries and the volume of completed transactions exceeds $20 billion. Armstrong’s fortune is estimated in the range of $900 million — $1 billion. “We can actually change the line, actually bend this curve and materially change the economic freedom of the entire world by what we’re going to build. … The vision for Coinbase is creating more economic freedom for every person and business in the world over the next ten years.” Charlie Lee Creator of Litecoin, managing director of the Litecoin Foundation, computer scientist and an iconic figure in the cryptocurrency community. Charlie was born in West Africa and moved to the United States with his family at the age of 13. Charlie received a Bachelor’s and Master’s degrees in Computer Science from the Massachusetts Institute of Technology (MIT). After graduation, Lee worked as a programmer at Kana Communications, Guidewire Software, and Google. Charlie Lee first learned about cryptocurrency in 2011 and decided to create his own coin — Litecoin, which became the best version of Bitcoin: transactions became faster, the number of coins increased, another mining algorithm appeared. Now Charlie Lee is engaged in the popularization of digital currencies as an expert in the field of blockchain technology. “I believe that cryptocurrency will take over fiat currency and become the reserve currency.” Changpeng Zhao Founder and CEO of Binance, computer scientist and China’s crypto-king. Zhao was born in Jiangsu province in China and moved with his family to Canada in the late 1980s. He graduated from McGill University with a major in Computer Science. Before setting up his own company, Zhao worked at OKCoin and Bloomberg. In July 2017, Zhao launched the cryptocurrency exchange platform — Binance. The ability of the platform to process a high number of transactions (1.4 million per second) and a reliable system of protection quickly made the Binance one of the most popular crypto exchanges in the world. In January 2018, Binance came out on top among crypto-exchanges in the world in terms of the trading volume. And Zhao, who became the owner of about $2 billion in crypto, got on the cover of Forbes magazine. Today Changpeng Zhao is one of the main figures of the crypto world who is actively promoting cryptocurrencies in Asia and North America. “Cryptocurrency will survive regardless of any one country. Most countries that try to ban bitcoin cause their citizens to want cryptocurrency more.” Vitalik Buterin Co-founder of Ethereum, co-founder of Bitcoin Magazine, computer scientist and wunderkind. On January 31, 2018, the guy will only turn 25, but he has already had a significant impact on the crypto industry. Vitalik was born in Kolomna, Russia and moved to Canada at the age of six with his family. He has always had a flair for math and programming. His favourite childhood toy was Microsoft Excel. Buterin is the winner of the Thiel Fellowship, thanks to which he was able to focus on the study of the Bitcoin network and then create his own — Ethereum, which has been called “the world’s hottest new cryptocurrency.” Ethereum network allowed to launch a giant ICO market, the volume of which almost $4 billion. Nowadays Buterin works with such companies as Microsoft, HP, and JPMorgan. He was ranked “30 most promising entrepreneurs under the age of 30” by Forbes magazine. “The main advantage of blockchain technology is supposed to be that it’s more secure, but new technologies are generally hard for people to trust, and this paradox can’t really be avoided.” Who do you think should be in this top list? Share your thoughts in the comments below. And remember no matter how famous and influential you are in the crypto world, you can always exchange your coin on StealthEX.io ;) Follow us on Medium, Twitter, Facebook to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
Hey all, I’ve spent some time during my flight back home to discuss in detail the experience in Singapore, what talked about, things the mods and team are working on, improvements that can be made and some other things too. This post has also had input from the other moderators too. I don’t think any of the mods were massively pleased with the outcome of how we portrayed our time in Singapore during the last update and it certainly didn’t put across all the fantastic things we learnt or discussed while we were there. There was a quick turnaround with the update and with some of us were travelling and heading to other countries for various reasons it wasn’t ideal – anyway let’s begin. P.s. I apologise in advance for the lengthy post.
As most of you are aware there is a rebranding process going on for Request currently, it was really exciting to hear Robbins experience and to see the scope of the project. Request are working with an industry leading full-service digital agency to improve the understandability of Request through educational content. The current Request website is mainly catered towards ICO investors and hasn’t really changed much since the token sale – when visiting the site, it’s extremely difficult to understand what Request is, how it works and who can it benefit from the platform. One of the goals of the project is to revamp the website to cater for developers, businesses, users, community members, early adopters and investors. The concept of the blockchain, Request, and its products is daunting for the non-technical audience. While the team know it’s important to cater for developers and other industry professionals having an easy to understand project with easy to consume information is an important step towards adoption. The Request Hub will also play a critical part in the growth of the Request Network. The new website will have a focus on developers and businesses and pushing them towards the hub and how they can use the funding to help create their projects. Most of you will probably be aware that the dApps + the core protocol are different projects entirely. Internally, this is also the case. You can see an visual image of the structure here: https://imgur.com/pXF1gEK The core platform team is responsible for protocol development, things like scaling solutions, data encryption, extensions, features like cross-currency etc. Whereas the dApp teams focus on creating applications built on the Request platform, crowdfunding, invoicing, payments etc. Although this isn’t new information it’s important for sections later in the write-up.
Fiat integration is vital for the success of the Request Network for medium to long-term. What we focus on today is making sure the protocol has enough features and a solid developer experience to attract developers to build reliable financial tools on top of the Request Network. The foundation prioritizes its own development goals based on direct feedback coming from the developer community. We receive requests for features that are needed by developers, as their product depends on it. Today, the main feedback coming from the developer community is to make it easier to use the library, implementation of encryption, cross currency support and adding more cryptocurrencies. Apart from these requests, scalability of the protocol itself and developing extensions such as escrow are also prioritized as it is crucial for adoption of the protocol by developers. The above are our current priorities in development, while we in parallel are researching several fiat integration options mentioned in an update last December.
Oracle with Chainlink
Integration by partnerships with banks
Oracle and bank APIs
Partnership with credit card companies or processors`
All of the above bullet points are things the team are actively researching and looking into, we discussed how the Singapore government is looking at tokenizing the Singaporean Dollar and how many more governments in the future will look at taking this route, however this is a long way off. A decentralised Oracle with Chainlink would be ideal but it’s not ready yet. Integrations by partnerships with banks / partnering with credit card companies or processors (like Stripe) is incredibly difficult (especially being decentralised) but it’s something the team will actively work on / towards. Oracle and bank APIs – we discussed several projects here like StellarX, OmiseGo and more – each have their own pros and cons but nothing in the space is really ready for FIAT, some options are close and the team are keeping a close eye on several projects in this space. There are tonnes of regulatory issues surrounding FIAT and the blockchain, governments are dubious about the blockchain technology and banks are having a tough time getting involved too – even big companies like Binance, Coinbase and Circle still can’t obtain a banking license after many years of trying. The regulatory situation will change, crypto is still a young industry and it will take time for governments to catch up. Instead of spending time trying to achieve FIAT which wasn’t viable, their time has been spent on far more productive things such as scaling solutions, data encryption, working on various dApps, working with partners, hiring and much more. The better the platform the more impact having FIAT will have when it comes. Yes, not being able to stick to the roadmap isn’t ideal, but the team have realised there are limitations and made the best of the situation. Would it have been good if the team have been more transparent about FIAT and the issues they faced? Absolutely. Detailed articles about subjects like this do take time, and raise further questions which also take up the team’s time. We want to find a good balance going forward of keeping the team on track and keeping the community informed. We will also work with the team to improve communication for things like this (if they ever arise in the future) and how the mods can alleviate some of the time-pressure if possible. The team do realise the importance of FIAT, it hasn’t been forgotten and will be something the team will keep on the roadmap – in the future when FIAT is possible we will have a much more mature platform and many use cases live and ready to integrate FIAT.
One of the most discussed things over the past months is marketing, this is a very important topic and it’s something that can make or break a project. As per the ‘Rebranding + Restructure’ section, marketing will be broken down into two different groups, dApps and the core Request platform. The marketing for each of these aspects is very different. So, why aren’t the team marketing right now? Quite simply – the platform just isn’t ready yet, there isn’t enough value to risk marketing at this stage. This is the same with some of the dApps, they are close, but they still aren’t quite there yet. In my case if we take a look at the WooCommerce + Shopify plugins, if I go ahead and run a PPC (pay-per-click) campaign before BTC is integrated, then users may leave the site and never return. In this instance I will have lost money as well as a potential customer. This is just one example but it’s the same for other dApps too. Right now, The team are making active steps towards marking when the platform and dApps are, as well as hiring dedicated marketers. I do want to say that the team truly understand the importance of marketing, they will market the project and the dApps– it’s critical they do so. To break it down there are entirely separate game-plans to consider when marketing, the core platform and dApps.
Core Platform (Foundation)
Marketing for the core platform will focus on; educating the community about the platform, educating developers / businesses / potential partners about the Request protocol and how it can be used by / integrated into business workflows. The rebrand will have a big focus on education and driving adoption of the Request Hub + Fund. In the meantime, we are discussing ways to improve the Request Hub and how we can get more developers involved at this stage, I have covered this in more detail in the ‘Request Hub’ section.
Each dApp will in essence be its own entity (business) and will act independently of the foundation. Each dApp will have a dedicated team, individual aims and goals, potentially a custom roadmap, a proprietary marketing strategy and much more (everything you expect from a typical business). Marketing for individual dApps will vary greatly depending on what the dApp is, some will be focussed on B2B, some B2C, some dApps might be a combination of both.
Hiring + strategies to find new devs
The foundation growing at a quick rate and one of the things we discussed in Singapore was hiring and strategies to find new devs. There are several strategies that the Request team can adopt alongside job advertisements to help entice developers, not only to the foundation but also to the Request Hub. We discussed potentially using freelancers and then hiring if they are a good fit, more engagement from the team with people that contribute to the Request Hub and how the team can help (financially via the fund + time set aside for devs), hackathons with prize incentives, speaking at developer conferences (very important). Some ways of engaging with developers do require the platform / ecosystem to be more mature but we are actively working on making these things a reality. Also, improving the community sentiment will also drive hype which in turn hopefully attracts more developers.
Request Hub + Request Fund
In my opinion one of the best selling points of Request is the Request Hub + Fund. Although there is activity in the hub and some projects have receiving funding it is nowhere near as widely used as it could be. As I’ve discussed in the marketing section, the renewed website will have a big focus on pushing the Hub + Fund. Aside from the marketing aspect I have also been speaking to teams in the Hub for a while about how the flow for funding can be improved, we have discussed the barrier to entry for the fund (MVP limitations), the turnaround time for responding to funding applications (needs to be quicker), having the team engage more with the Request Hub devs as well as actively helping them with their business needs. In the future I will also look at creating a suite of tutorials, and potentially workshops, for the Request Hub to help get developers up and running.
One of the hot topics since returning from Singapore has been the bi-weekly updates, we have been discussing with the team how they can be improved without taking up too much time for the team. There are several things which are actively being discussed:
Have more clarity on what developers are working on
Talking about blockers and potential problems the developers have faced, if things are delayed – why?
Have an insight into why certain decisions have been made e.g. FIAT, transparency goes a long way here.
Is it possible for there be previews of dApps or upcoming features?
Talking about things going on behind the scenes without committing to firm dates / jeopardising anything.
Can the team promote the Request Hub projects more on social platforms?
Can we talk about the Request Hub projects? From an outsider’s perspective reading just the bi-weeklys it looks like not much is going on which couldn’t be further from the truth – it's clear there are exciting and innovative things going on behind the scenes and we want to demonstrate that as much as possible in the bi-weeklys.
This will be an ongoing discussion with the foundation, it will take time to refine the bi-weeklys and we also need to find a happy medium that suits both the foundation and the community too.
The Community Managers and our role
The goal as community managers is to firstly ensure that the social channels e.g. Reddit, Discord, Slack and Telegram are a good place for investors, the team and developers – we want to ensure it’s good for open discussions (both positive and negative) and a place where we can educate people about Request too. As community managers we want to try and stay as impartial as possible, we will help to educate when we can, we’ll shut down any false information and we’ll help alleviate any concerns where possible. We don’t want to take sides, we are simply there to be a bridge between the team and the community. We want the Request community to be an open place where anyone can discuss what they want, we want to see discussions about good things and bad – we don’t want Request to be a place where negativity is censored. We (the mods) are just normal guys, we love technology, we love the blockchain, we are just investors like all of you, and we want the best for the Request Network. We are continually improving how we and the team deliver information, but things can still be improved massively – we are already actioning some things to improve communication between the community and the team and we have plenty of other things lined up too.
During the rebrand the website will rework the dynamic roadmap to something potentially similar to Ark (https://ark.io/roadmap), with percentages (or something similar) and a breakdown of each goal on the roadmap. This will help with transparency and also allow the community to track progress more easily. I’ll cover my perspective on the dynamic roadmap looking from a developers point of view, as a lot of people are still unsure as to why the roadmap has changed and in turn it raises lots of questions. From a developers point of view. As a dev it can be incredibly difficult to hit deadlines that are more than a few weeks / over a month or two away, the further away the date the harder it is to estimate + hit deadlines. This is the case for a normal business, but as crypto is insanely fast paced and such a new industry this is even more prevalent. In the normal development world you typically work in weekly / bi-weekly sprints to produce features in small iterations which contributes to the overall project, at the end of each sprint you re-evaluate the previous weeks and re-adjust timings / resources if necessary – estimating deadlines months in advance is almost impossible. The biggest issue about committing to a firm date is that crypto adoption is moving at a fast rate, non-blockchain businesses are getting involved with cryptocurrencies and a great platform like Request is an attractive option for them. On-boarding these businesses takes money, expertise and most importantly team resources. The team is growing but for now the time spent with these partners needs to come from somewhere, and unfortunately features can sometimes get affected. Let's take BTC support - if the team was fully focused on BTC I would have no doubt there would have been no delay. But PwC came along, which took up development resources and, unfortunately, impacted the deadline. Long-term, having PwC onboard will have a more positive effect on the overall Request Network ecosystem. Partnerships won't wait around, Bitcoin support will. With these partnerships there will be a push for features they want to see. PwC for example, would be focused on the accounting so they would likely be pushing for accountancy related dApps (http://accounting.request.network/) - when the roadmap was first created the team could never predict such a huge entity like PwC would come onboard, so changing focus is sometimes required from a project. Once again, long-term this will benefit Request massively. From a development perspective changing the roadmap is a fantastic move in my opinion, the team never know what is around the corner and being able to quickly adapt to new opportunities, on-boarding companies are critical for the long-term viability of the network. As the team grow there will be more development resource available to focus on the core platform and partners which will allow the team to better predict features in the future. Once again, I’d like to reiterate things do need improving here, the team can be more transparent, and the roadmap can, and will, be improved.
The Singapore trip was fantastic, and it was an incredible experience working closely with the team and it was great to see their passion and talent while working away through the week, it’s an excellent work environment too. Every bit of feedback is incredibly important, please don’t hesitate to get in touch at any time to me or any of the mods, either by Reddit, Discord, Slack or Telegram. There is a lot of work ahead for the mods and the team, but rest assured we have every single one of your concerns in our scope; the community and the perception you guys have is so important to the team and the project. There are a lot of great things going on that we will continue to improve and lots of things that need changing – it won’t be something that happens overnight but something that will be continuously improving for the entirety of the project – we are dedicated to working hard and improving Request and the community every day. At the end of all this, actions speak louder than words, and we will take everything into consideration to help ensure Request thrives, we are already in the process of actively making changes. Apologies for the lengthy post but hopefully this clears some bits up and helps to put across some of the great things we saw in Singapore, if you have any other questions feel free to leave a comment or get in touch privately. Cheers.
Like any developing industry, the cryptocurrency world has its own stars and celebrities. StealthEX has made a list of the most influential people in the crypto world. So here are the TOP-5 people who are leading the digital revolution by transforming financial markets. https://preview.redd.it/mo83mbun64c41.jpg?width=1024&format=pjpg&auto=webp&s=8a47b98b96b40d378cf2aaaca171722a97e54d6d Brad Garlinghouse Ripple’s CEO, investor, businessman and a huge fan of blockchain technology. Garlinghouse was born on February 6, 1971, in Kansas, USA. He has a Bachelor’s degree in Economics from the University of Kansas and holds an MBA diploma from Harvard Business School. Brad has worked for some major technology companies, such as Yahoo, AOL, Hightail, Tonic Health. Nowadays he is the CEO of Ripple (a real-time gross settlement system, currency exchange, and remittance network) and a member of its Board of Directors. Ripple (XRP) is the world’s largest cryptocurrency by market capitalization and Brad as CEO owns 6% of the company’s stock. “There are a lot of really fabulous things that get done with digital assets and blockchain technologies to reduce friction, to reduce costs, and enable things that weren’t possible before.” Brian Armstrong CEO and co-founder of the Coinbase platform, software engineer, risk manager, and public speaker. Brian Armstrong was born in 1983 in San Jose, California. Armstrong was interested in technology at school and learned Java and CSS at an early age. He got his first job at school: he created websites for local businesses. In 2001, Armstrong joined Ryerson University in Houston and studied economics and computer science. After graduation, he was an intern at IBM and then worked as a consultant and risk manager at Deloitte & Touche. Later, he founded the UniversityTutor.com, which allowed users to search for a suitable tutor based on various parameters: education, location, and topics. Brian also worked as a software engineer at Airbnb.com. Great success came to Brian with the creation of a digital currency exchange platform – Coinbase. Today Coinbase serves 9.5 million customers in 32 countries and the volume of completed transactions exceeds $20 billion. Armstrong’s fortune is estimated in the range of $900 million — $1 billion. “We can actually change the line, actually bend this curve and materially change the economic freedom of the entire world by what we’re going to build. … The vision for Coinbase is creating more economic freedom for every person and business in the world over the next ten years.” Charlie Lee Creator of Litecoin, managing director of the Litecoin Foundation, computer scientist and an iconic figure in the cryptocurrency community. Charlie was born in West Africa and moved to the United States with his family at the age of 13. Charlie received a Bachelor’s and Master’s degrees in Computer Science from the Massachusetts Institute of Technology (MIT). After graduation, Lee worked as a programmer at Kana Communications, Guidewire Software, and Google. Charlie Lee first learned about cryptocurrency in 2011 and decided to create his own coin — Litecoin, which became the best version of Bitcoin: transactions became faster, the number of coins increased, another mining algorithm appeared. Now Charlie Lee is engaged in the popularization of digital currencies as an expert in the field of blockchain technology. “I believe that cryptocurrency will take over fiat currency and become the reserve currency.” Changpeng Zhao Founder and CEO of Binance, computer scientist and China’s crypto-king. Zhao was born in Jiangsu province in China and moved with his family to Canada in the late 1980s. He graduated from McGill University with a major in Computer Science. Before setting up his own company, Zhao worked at OKCoin and Bloomberg. In July 2017, Zhao launched the cryptocurrency exchange platform — Binance. The ability of the platform to process a high number of transactions (1.4 million per second) and a reliable system of protection quickly made the Binance one of the most popular crypto exchanges in the world. In January 2018, Binance came out on top among crypto-exchanges in the world in terms of the trading volume. And Zhao, who became the owner of about $2 billion in crypto, got on the cover of Forbes magazine. Today Changpeng Zhao is one of the main figures of the crypto world who is actively promoting cryptocurrencies in Asia and North America. “Cryptocurrency will survive regardless of any one country. Most countries that try to ban bitcoin cause their citizens to want cryptocurrency more.” Vitalik Buterin Co-founder of Ethereum, co-founder of Bitcoin Magazine, computer scientist and wunderkind. On January 31, 2018, the guy will only turn 25, but he has already had a significant impact on the crypto industry. Vitalik was born in Kolomna, Russia and moved to Canada at the age of six with his family. He has always had a flair for math and programming. His favourite childhood toy was Microsoft Excel. Buterin is the winner of the Thiel Fellowship, thanks to which he was able to focus on the study of the Bitcoin network and then create his own — Ethereum, which has been called “the world’s hottest new cryptocurrency.” Ethereum network allowed to launch a giant ICO market, the volume of which almost $4 billion. Nowadays Buterin works with such companies as Microsoft, HP, and JPMorgan. He was ranked “30 most promising entrepreneurs under the age of 30” by Forbes magazine. “The main advantage of blockchain technology is supposed to be that it’s more secure, but new technologies are generally hard for people to trust, and this paradox can’t really be avoided.” Who do you think should be in this top list? Share your thoughts in the comments below. And remember no matter how famous and influential you are in the crypto world, you can always exchange your coin on StealthEX. Just go to http://stealthex.io and choose the pair and the amount for your exchange. Then follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example BTC to ETH. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your coins. Follow us on Medium, Twitter, Facebook to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
Stellar Lumens HODL alert: 2017 Round up, Partnerships, Lumens vs. Other Cryptos
Welcome everyone! The future of Stellar Lumens is bright! Today we will look at the accomplishments of Stellar.org in 2017. . . 2017 Round Up • IBM / Stellar Partnership • Kik Messenger’s KIN coin to move from Ethereum to Stellar in 2018 • Stellar ATM introduced in Singapore • Jed McCaleb confirms IBM/Stellar has 30 banks on board (Youtube Video) • Lightyear.io enables forward thinking financial entities to easily join the Stellar ecosystem. • IBM adds 8 new validators from 8 different countries onto the Stellar network (article) • Forbes calls Stellar “venmo, but on a global scale - and for larger bodies like banks and corporations.” • Stellar Lumens Is Up 6,300% Since March and Is Aiming for Big Blockchain Partners (article) • Many new partnerships (listed below) that will be using the Stellar network in 2018. • Binance and GoPax Exchanges Adds Stellar • Ledger Nano S support is now available for Lumens (XLM) • The next coin to break into the top 10 cryptos (article) . . 2017 Partnerships & Financial Institutions • IBM - is an American multinational technology company headquartered in Armonk, New York, United States, with operations in over 170 countries. IBM partnered with Stellar to help financial institutions address the processes of universal cross-border payments, designed to reduce the settlement time and lower the cost of completing global payments for businesses and consumers. • SatoshiPay - a web payment system that helps online publishers monetize digital assets like news articles, videos, or PDFs in tiny increments without friction. • EXCH.ONE - is a FinTech software company based in Switzerland currently working to integrate its platform and its first technology adopter Euro Exchange Securities UK Ltd. into the Stellar network. This addition to the Stellar network will bring access to currency markets of South and Central America,UK and a number of EU countries. • Novati (ASX:NOV) - is an Australian-based software technology and payment services provider. Novatti is currently working to integrate it’s platform into the Stellar network with the ultimate aim to build a global money transfer solution to provide cross border, cross currency and cross asset payments. • Pundi X - is an Indonesia based fintech company that provides POS device, debit card, multi-currency wallet that empowers individuals to buy and sell cryptocurrency at any physical store in the world. They say "buying cryptocurrency should be as easy as buying a bottled water." • MoneyMatch - is a Malaysia based fintech startup that provides a fully-digital peer-to-peer currency exchange platform for customers to transfer and exchange foreign currencies with complete ease and at great value. The company plans to integrate with the Stellar network and enable pay in and pay out from Malaysia. • Streami - is a Korea based fintech company that offers blockchain enabled cross-border remittance service and recently launched a cryptocurrency exchange. The partnership extends both on the exchange side and remittance operations. • Neoframe - is developing and marketing trading solutions for big brokerage firms in Korea and extends its business to blockchain based applications. Neoframe developed high performance centralized cryptocurrency exchange as well as secure wallet solutions and is working with big financial players. The company is planning to launch a remittance business for ASEAN countries (Thailand, Vietnam, Indonesia, Malaysia, Philippines, Singapore, Myanmar (Burma), Cambodia, Laos, Brunei) using Stellar. • SureRemit($RMT) - is a Nigeria based global non-cash remittances company. SureRemit leverages the Stellar blockchain platform to connect immigrants abroad directly with merchants that provide the services needed by their loved ones back home. With Remit tokens, immigrants all over the world can access digital shopping vouchers that can be spent on goods and services at accepting merchants wherever they are. • Cowrie Integrated Systems - is a Nigerian based Value Added Service Provider. Cowrie provides services at the intersection between telecoms and finance. Cowrie recently joined the Stellar network to bring novel fintech services to the African market. • Smartlands - is a Stellar-based platform designed to create a new class of low-risk tokens, secured by real, profitable assets in the real-world economy. Smartlands is designed to promote investments in the agricultural sector by allowing investment in individual projects, agricultural companies or indexes of groups of projects. These investments will be fully collateralized by agricultural real estate, other productive assets such as fruit or nut trees or, in some cases, the actual crop. • Klick-Ex - is an award winning regional cross-border payments system delivering financial infrastructure for emerging markets. It has been responsible for dramatic uptake in digital financial services in unbanked regions of the world, and lowering costs for banks, central banks and consumers in low liquidity currencies. Its key presence is in the Pacific and Europe, and it is a founding member of www.APFII.org processing more than 775,000 transactions per second, per billion of population (source). • Mobius - Mobius connects any app, device, and data stream to the blockchain ecosystem. Our simple and easy to use bidirectional API allows non-blockchain developers to easily connect resources to smart contracts and more. The Mobius MVP acts like Stripe for Blockchain by introducing innovative standards for cross-blockchain login, payment, smart contract management, and oracles. The Mobius Team includes David Gobaud, Jed McCaleb (Stellar.org founder), Jackson Palmer (creator of Dogecoin), and Chandler Guo (notorious Bitcoin & blockchain investor). • Chaineum - Chaineum, the first French ICO Boutique, will use the Stellar network for upcoming ICOs. “Chaineum is positioned as the first “ICO Boutique” in France, providing a range of end-to-end services to companies and international start-ups wishing to develop with this new funding mechanism. Chaineum is preparing 8 ICOs by the end of 2017, for European, North American and Asian companies, of which cumulative amount could reach € 200 million." (source) • Poseidon Foundation - Poseidon will simplify the carbon credit market with the creation of an ecosystem built on Stellar.org’s blockchain technology. This technology will prevent double counting of carbon and will be consistent across jurisdictions, making it easier for companies to deliver and measure progress towards their climate targets or other goals such as deforestation-free commitments. • Remitr - Remitr is a global platform for cross border payments, licensed in Canada. Remitr uses the Stellar network for international settlements for businesses as well as other payment partners. Remitr’s own payout network of 63 countries, comprising several currencies, is extended onto the Stellar network. • MSewa Software Solution (MSS) - MSewa Software Solution (MSS) Payments provides a one-stop digital payment service available across the Globe. MSS Payments aims at serving the consumers (Banked, Unbanked and Underbanked) with mobile banking facilities on the move from anywhere by transferring funds in their mobile phone. • PesaChoice - PesaChoice is a leader in international bill payment services for the African diaspora. PesaChoice aims at making international bill payment process easy, seamless, secure, with reasonable and competitive service fees, and up to date technological advances. • SendX - Singapore based SendX, in partnership with Stellar, is the better way to move money worldwide. The SendX team believes that the future of transactions is decentralized and distributed, bringing true equity to everyone across the value chain. • VoguePay - VoguePay, with offices in the United Kingdom and Nigeria, is partnering with Stellar to become the cheapest and most efficient way to send money between the United Kingdom and Nigeria. In the coming months, they expect to expand this service to other selected African countries. • HashCash - Hashcash consultants build financial solutions for banks and financial institutions over blockchain. We leverage the Stellar platform to build products that vastly improve the remittance and payments experience for banks and their customers. Transfers happen lightning fast at a fraction of current rates and operational cost is significantly reduced. HashCash is headquartered in India, with operations across South Asia and the Gulf. . . Stellar Lumens vs Other Cryptocurrencies • Lumens vs. Bitcoin: Jed McCaleb spoke at Distributed Markets in 2017 about the advantages, but more importantly, the disadvantages of Bitcoin. Listen to the talk here. Jed said, “Bitcoin is this awesome innovation. The first thing it does is converts a real world resource, electricity, into a digital asset. So it takes something from the real world and puts it into the digital realm. The second thing it does is provides immutable public record. It’s basically a database that everyone can see but no one change arbitrarily… That’s great, Bitcoin solves the double spin problem [ of proving possession and transmitting volume]… [However, to fix the problems of bitcoin] you might think well maybe we’ll just kind of keep adding [software] to Bitcoin until we get there, but that’s not really the way software works. You want to have the design from the beginning and solve these simple issues. Bitcoin was designed to be a new currency, it wasn’t really designed to be this unifying universal payment network. So that’s what Stellar does. It solves these three remaining issues.” • Lumens vs. Bitcoin #2: According to wired.com, "Bitcoin mining guzzles energy - and it's carbon footprint just keeps growing." Wired says "Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day... The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year." Because Stellar is based on a consensus algorithm rather than mining, it takes much less energy to run the Stellar network. The Poseidon Foundation decided to build their platform on Stellar rather than Ethereum or Bitcoin because of this (twitter source). • Lumens ICO tokens vs. Ethereum ICO tokens: According to Stellar.org, "traditionally, ICO tokens have been issued on the Ethereum network in the form of ERC20 tokens. ERC20 tokens are easy to issue and are infinitely customizable using Ethereum’s smart contracting language. However, recent events have highlighted and exacerbated some weaknesses of the network, including slow transaction processing times for the network during ICOs and increasingly expensive gas prices (by fiat standards) for transactions and smart contract execution. Moreover, many organizations require only basic tokens; they adopt the risk of Ethereum’s Turing complete programming language without taking advantage of many of its benefits." "While Ethereum has the most expressive programming capabilities, we believe Stellar is the best choice for ICOs that do not require complex smart contracts. Stellar’s primary goal is to facilitate issuing and trading tokens, especially those tied to legal commitments by known organizations, such as claims on real-world assets or fiat currency." • Stellar vs. Ethereum #2: The median transaction time on Stellar is 5 seconds, compared to approximately 3.5 minutes on Ethereum (source). Stellar has a negligible transaction fee (.00001 XLM ~= $0.0000002) with no gas fee for computation, while depending on the complexity of the computation, the median cost for a transfer on the Ethereum network is $0.094. Security: While both Stellar and Ethereum run on a decentralized network, the Stellar network has fewer security pitfalls. Stellar uses atomic transactions comprised of simple, declarative operations while Ethereum uses turing complete programming capabilities which produces less auditable code and greater risk of exploitable vulnerabilities(source). Recently, a security flaw in the Ethereum network froze millions of dollars. According to Mobius ariticle written by David Gobaud, "On November 6, 2017, Github user deveps199 'accidentally' triggered a bug in Parity, a popular Ethereum mult-sig wallet, that froze more than $152 million in Ether across 151 addresses. The bug impacted several token sales including Polkadot, which has had ~$98 million out of its recent $145 million sale frozen." "Mobius had none of its ongoing pre-sale Ether frozen because we do not trust Ethereum’s Smart Contract based multi-sig wallets given the vast Turing complete attack surface and did not use one. Security broadly is one of the main reasons the MOBI token that powers the DApp Store is a Stellar Protocol token and not an Ethereum token." • Lumens vs. Ripple: According to Wall Street Bitcoin Exchange, "Many investors like to compare the company [Stellar] to Ripple, and there are a lot of similarities, being that some of the founders worked on the Ripple team. In what can now be looked at as another blockchain development drama that plays out on chat boards and in interviews all across the globe. Stellar declared they fixed Ripple’s problems with their hard fork, however, Ripple has failed to admit to any of the flaws in its design that the Stellar team has pointed out." The article concludes by saying, "We Choose XLM Over XRP For 2018. That is why we are going with Stellar Lumens over Ripple in our portfolio for the rest of 2017 and 2018. After holding Ripple for a long time this year, it just never seems to make the big break like other names with bigger market caps like Bitcoin Cash, Dash, and Litecoin have. While we are holding on most all our larger market caps, we feel that Stellar Lumens will be one of the break out coins for 2018." . . Conclusion The stellar.org team is doing an amazing job making partnerships and pioneering the use of blockchain technology for various types of transactions. What we are seeing is a new technology that can actually be used to solve real-world problems. As a community, we need to continue supporting Stellar and we will quickly see it power transactions across the world. What are your thoughts about Stellar? What do you see in the future of Stellar? Any important news you want to share? Comment below.
Daily analysis of cryptocurrencies 20191014(Market index 37 — Fear state)
https://preview.redd.it/3ygnthtqths31.jpg?width=1200&format=pjpg&auto=webp&s=e681b3df0e1fe4547fc85547b4d62e4c6bffa481 https://coin360.com/ UPbit Operator Dunamu To Launch Comprehensive OTC Platform Dunamu, an operator of global cryptocurrency exchange UPbit, announced Oct 14 that it planed to launch a comprehensive over-the-counter trading platform that deals with all types of unlisted stocks. According to the UPbit operator, it will jointly launch the platform, which will be available in the form of an App, with local brokerage Samsung Securities and big data analytics company Deep Search in the end of October. FSB Chair Reports To G20 Finance Ministers And Central Bank Governors On Oct 13, the Financial Stability Board (FSB) published a letter from its Chair Randal K. Quarles to G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. this week. The letter highlights three areas of the FSB’s work, which include the potential financial stability issues from global stablecoins. It mentions that stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. “Possible regulatory gaps should be assessed and addressed as a matter of priority. The FSB has formed a working group, to inform regulatory policy approaches that harness the benefits of financial innovation, while containing associated risks for the financial system, and advise on multilateral responses as necessary. The FSB will submit a consultative report to the G20 in April and a final report in July 2020,” the report reads. US Senators Threaten CEOs: Dump Libra Or Face Regulatory Wrath Facebook’s crypto woes are deepening as more partners are jumping the Libra ship before it even sets sail. It appears that US senators are urging them to do so as letters to CEOs have been leaked online. Some say the government is stifling innovation while others agree the crypto project is just dangerous. It seems that a number of US senators have been privately contacting Libra Association members urging them to dump the project like a hot rock. Letters shared online by VanEck digital asset strategist Gabor Gurbacs highlight the extent US politicians will go to in efforts to prevent Libra ever launching. Report: G7 Says ‘Global Stablecoins’ Pose Threat To Financial Stability The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. According to the BBC on Oct 13, a draft report from the G7 outlined the various risks associated with digital currencies. It also said that, even if member firms of the governing Libra Association addressed regulatory concerns, it may not get approval from the necessary regulators, stating: “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed. […] Addressing such risks is not necessarily a guarantee of regulatory approval for a stablecoin arrangement.”
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash:The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.Veros (VRS):14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”Skycoin (SKY):14 October 2019 Hardware Release “New hardware product launch.”Bibox Token (BIX):14 October 2019 Weekly Report “Check out Bibox Weekly Report (Vol. 67 2019.09.28–2019.10.11)”
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token:Ruff will end the three-month early bird program on October 15thKAT/Kambria:Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15.BTC/Bitcoin:The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.OTOCASH (OTO):15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM”(CRYPTO):15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17.Cardano (ADA):15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYCFunFair (FUN):15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on DiscordArk (ARK):15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “DigiByte (DGB):15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC.ThoreNext (THX):15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin:The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th.MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16.ETH/Ethereum:Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades.QTUM/Qtum:Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.(CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM.Binance Coin (BNB):16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.”IoTeX (IOTX):16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.”Selfkey (KEY):16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.”Cardano (ADA):16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent
Encrypted project calendar（October 17, 2019）
Holo (HOT):17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.”IOST (IOST):17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by@FishChainGamenow! The competition only lasts till 17 Oct”Aragon (ANT):17 October 2019 Seoul Meetup “You are invited to join@licuendefor a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’”Skycoin (SKY):17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM.Horizen (ZEN):17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin:The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decisionHB/HeartBout:HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.OKB (OKB):18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.”HeartBout (HB):18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.”BTU Protocol (BTU):and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network:The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19.LINK/ChainLink:Diffusion 2019 will be held in Berlin, Germany from October 19th to 20thDeepBrain Chain (DBC):19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October.General Event (CRYPTO):and 1 other 19 October 2019Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…”PCHAIN (PI):19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.”Nash Exchange (NEX):19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.
Encrypted project calendar（October 20, 2019）
GameCredits (GAME):20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!Aeternity (AE):20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply!
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network:The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.Horizen (ZEN):21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains.Horizen (ZEN):21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.
Encrypted project calendar（October 22, 2019）
ZRX/0x:The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”BTC/Bitcoin:The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.Cardano (ADA) and 1 other:23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin:Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano:Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria:Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.BTC/Bitcoin:CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin:Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USABTC/Bitcoin:Mt.Gox changes the debt compensation plan submission deadline to October 28ZEC/Zcash:Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin:The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar:The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem:The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/roxxrqbuths31.png?width=504&format=png&auto=webp&s=c94149f1d2f662508b925a59ec31d863731918fb This past week, we saw a nasty decline from the $8,950 zone in bitcoin against the US Dollar. The price declined heavily and broke the key $8,500 support area. Moreover, there was a close below the $8,500 level and the 100 hourly simple moving average. It opened the doors for more losses below the $8,400 and $8,350 support levels. Recently, there was a recovery above the $8,400 level, but the price failed to gain pace above $8,450. As a result, there was a fresh decline from the $8,472 high. During the decline, there was a break below a key ascending channel with support near $8,340 on the hourly chart of the BTC/USD pair. The pair traded as low as $8,146 and it is currently correcting higher. It broke the $8,200 level and the 23.6% Fib retracement level of the recent decline from the $8,472 high to $8,146 low. At the moment, the price is testing the $8,300 area. Besides, it seems like the 50% Fib retracement level of the recent decline from the $8,472 high to $8,146 low is acting as a resistance. On the upside, there are many hurdles forming near the $8,350 and $8,400 levels. The key resistance is near the $8,400 level and the 100 hourly SMA. It also coincides with the 76.4% Fib retracement level of the recent decline from the $8,472 high to $8,146 low. Therefore, a clear close above the $8,400 level might start a decent recovery. The next key resistance is near the $8,500 level, above which the price could test the $8,800 resistance. Conversely, if the price fails to recover above $8,350 or $8,400, it could resume its decline. An immediate support is near the $8,200 level. Review previous articles:https://email@example.com Telegram： https://t.me/Lay126 Twitter：https://twitter.com/mianhuai8 Facebook：https://www.facebook.com/profile.php?id=100022246432745 Reddi：https://www.reddit.com/useliuidaxmn LinkedIn：https://www.linkedin.com/in/liu-wei-294a12176/
Author's Note: Elastos was discussed in this group twice, albeit 7 and 9 months ago, respectively. To do the project justice my intention is to give existing and new CryptoMoonShots group followers an update as the overall market has changed considerably and to factor in project-specific developments following the two mentions of Elastos here. Definitions: Content Creators and/or Developers: Individuals and enterprises that generate, design, and create digital assets. Digital Capital: An individuals videos, photos, written text, written or spoken ideas, music, time, and attention Big Tech: Companies like Alphabet, Facebook, Apple, Microsoft, Amazon, Twitter to name a few. Project Introduction: The design philosophy of Elastos originated from Rong Chen, a former senior software engineer at Microsoft. Building on his experience at Microsoft, Chen wanted to create a platform in which applications and services are not allowed to access the Internet directly. Without access to the network, malware would not be able to steal user data or attack other services on the Internet. Chen’s vision was subsequently developed into an open-source, lightweight operating system for virtual machines (github.com/Elastos). In 2017, blockchain technology was integrated into Chen’s vision, enabling development of the Elastos Smart Web. The project is focused on developing a decentralized internet platform where digital assets are owned, distributed, and monetized by Content Creators and/or Developers that own it. To understand this, it is imperative to understand the current internet model (Internet 2.0). Big tech currently owns the internet and everything in it: your videos, your photos, your written text, your ideas, your music, your time, your attention - and the most important in this context - the means of distribution - let's call this Digital Capital. In the current model, Content Creators and/or Developers are forced to distribute their capital through channels owned by Big Tech, which rob creators of their rights and profits. Elastos is building the boundlessly scalable platform where digital capital can be published, distributed, and monetized by creators while allowing creators and developers to retain their rights. This platform will allow for decentralized applications (Dapps) to operate on a peer-to-peer network with no centralized control. Consumers can access these Dapps via their mobile phones without changing their operating system. The old Internet is a Web of information. If you click a URL, you get data. Elastos is creating a Web of apps. When you click a URL, you get code. The Elastos Web will be a special economic zone where Elastos tokens function as the base currency. The project is open-source software whose development process has been sponsored by industry giants such as the Tsinghua Science Park, the TD-SCDMA Industrial Alliance and the Foxconn Group for more than 200 million RMB. The project has published more than ten million lines of source code, including four million lines of original source code. The Elastos blockchain utilizes merged mining with Bitcoin, the process by which consensus is reached on both chains simultaneously. In this case, the Bitcoin blockchain works as the parent blockchain to Elastos, with the Elastos chain as its auxiliary blockchain. The mining pools will deploy merged mining code and miners will submit proof of work to both blockchains at the same time. Energy consumption does not increase with merged mining, and will be equal to the energy consumed for mining either alone. Through this mechanism, the Elastos blockchain has an extremely strong guarantee of computing power and will then be able to provide blockchain innovations at a global scale. It makes full use of existing Bitcoin computing resources in addition to being environmentally friendly. Live Products Elastos SPV Wallet Elastos provides an SPV Wallet SDK equipped with a series of wallet-related interfaces to enable users to develop unique wallets that connect to the Elastos blockchain. Sample applications are available now. Elastos Blockchain Merged Mining Elastos’ main public blockchain is merged mined with bitcoin, which enables pre-existing bitcoin miners to update their clients to simultaneously mine Elastos without expending excess energy. The merged mining is currently open only to the BTC.com mining pool. Elastos DID Sidechain Service Elastos provides a Decentralized ID (DID) Sidechain Service to be used in applications. On the Elastos ecosystem, every user, every device and every app has its own DID and can store any value that is associated with that ID on this sidechain. The DID service paves the way for a more secure and trustable internet, as this allows for seamless interoperability between DApps and IDs are assigned to users from the blockchain rather than having them assigned by a company. Elastos TV Box Although Elastos does not sell the TV Box directly, the Elastos Carrier is embedded inside. The Elastos TV Box is presently used for simple features such as remote control in a decentralized peer to peer fashion. In the future, these TV Boxes and many other IoT devices that have Elastos Carrier installed will be capable of running as IPFS nodes for supporting the distributed file storage network for the Elastos ecosystem. Elastos Dittobox Any individual can establish a unique dittobox server on a personal computer that integrates ownCloud server and Elastos Carrier. The dittobox server can be installed onto a computer behind the router, and all files stored on the server are accessible from anywhere in the world via the Elastos Carrier network. Beta Products Elastos Blockchain PoW + DPoS Elastos main blockchain will employ a hybrid consensus of PoW + DPoS where the PoW is merged mined with bitcoin and both are used to package blocks while the DPoS nodes are used for signing. This creates a finality in the blocks which will prevent the chain from forking. Elastos Token Sidechain Service Elastos DApps utilize this service to generate application-specific native tokens within the Elastos ecosystem. As such, each application can create its own token on demand, and without friction. Elastos Smart Contract Sidechain Service Elastos provides a unique sidechain service that is designated to running and executing smart contracts. These smart contracts are compatible with ERC20 and ERC721 tokens, which enables Ethereum DApps to run smoothly within the Elastos ecosystem. Elastos Hive Elastos will provide a distributed storage system that apps can utilize to store files, messages in a p2p chat, videos, music, and more. Elastos Elapay Elapay is a payment tool that enables payment with ELA. Two types of payments will be supported. The first is “Pay On Order,” which encompasses standard commercial purchases, and will require merchants to integrate Elapay service into their web apps in order to offer users this payment option alongside the likes of credit card and cash payments. The second is “Point to Point Pay,” which involves individuals exchanging funds between themselves. “Point to Point Pay” uses an html5 page that can be shared on social media outlets such as Facebook or Wechat to send or receive ELA. Elapay can be expended for a variety of purposes – from purchasing a virtual asset in an online video game to standard online shopping expenditures. It simply represents another method of paying for goods and services at checkout. Alpha Products Elastos Trinity A cross-platform browser application that runs on Android and will be available for iOS in the future. This is a form of the Elastos virtual machine and a demo of Elastos Runtime where decentralized applications written for Elastos run in a secure sandboxed environment. These are Ionic framework applications. Also, the SPV wallet functionality and the payment functions will be embedded inside the browser so that other DApps that run on Trinity can easily integrate with the available features. Elastos Carrier SDK Elastos Carrier provides SDK for Android (Java), iOS (Swift/Objective C), and nodeJS that can be utilized to connect to the decentralized peer to peer network that takes over all of the network traffic on the Elastos ecosystem, such as messaging, file transfer, and more. On January 16, 2019 the Intelligent Grouping and Resource Sharing (IGRS) board issued Elastos a formal membership certificate, thus making official its entrance into the IGRS Industry Association. In conjunction with Association members, Elastos will explore the opportunities and potential synergies presented by blockchain and IoT, in the joint hopes of creating a robust IoT industry ecosystem. Source: https://news.elastos.org/elastos-joins-the-igrs-industry-association/ Recently an ecosystem partner meetup revealed 900k TV Boxes sold and 180k registered DIDs via our partner app Viewchain. The Elephant Wallet also hit the Apple App Store and Google Play. In June, 2018 Elastos partnered with ioeX, an internet of things platform that was much anticipated. The ioeX project is a behemoth on its own and is built on the Elastos platform. **There are countless other exciting milestones that were achieved in 2018 and planned for 2019. Refer tohttps://news.elastos.org/.*\* Market Sizing, Factors, and ELA's Potential In the current market, Elastos' market cap of fluctuates between $31 million and $35 million with ~14,574,261 ELA coins in circulation ($2.1 to $2.3 per ELA) and total coin supply of 34,104,561. ELA is currently listed on LBANK, CoinEgg, Huobi, HBUS, Kucoin, BCEX, and BIT-Z, the majority of which are low volume exchanges. Binance Exchange controversy: Although various sources say different things, the evidence points to one plausible story: The Elastos foundation refused to pay Binance's listing fee and backed out of the listing the coin. Binance followed suit by tarnishing the project reputation using various media. Based on the projects scope, the team's background and leadership, the project's backers, affiliations, and partnerships, and projects with similar mandates the project has the potential to be worth close to $500 million (15x) in the short term (less than 12 months) and several billion over the longer term (1 to 2 years). The largest barrier to achieving it's objectives is adoption by developers. The chicken or the egg dilemma is that some argue listing ELA on major exchanges will incentivize developers to build on the platform because the coins value will appreciate others ague that the underlying technology must far outperform the incumbent to incentivize migration and hence drive the coins value. It's probably a combination of the two. I would love to hear your thoughts and opinions on this assessment. Thanks!
We would like to thank Qudem for inviting us and hosting this AMA session and community for asking such interesting and high-qualify questions! See full review in our Blog 1. The price of your token continues to go down. What factors do you think influence it and what’s your strategy to keep holding communities attention? 2. Could you share more details about the marketplace you are working on? When is it going to be launched, what products will be there, etc? 3. When will you share the progress made so far with your announced partners? For now the crypto market is a highly speculative market and the token price almost has nothing to do the projects’ progress for most of the projects. IoTeX is such an ambitious project that our goal is to change how the physical world works with the blockchain world and not a lot people can understand our vision and hold the belief of it. So it is not a surprise to me that speculative investors come and go rather than hodl. But I see more and more long term believers are joining us recently, no matter through investment, development and other forms of ways to work with us, which is super encouraging! In addition, it seems like we are in the initial phase of another bull run for the entire crypto market and usually bitcoin is taking the lead but more attention will be shifted to other projects once bitcoin finished its sprint. We have more focus on the underlying privacy/TEE technologies as for now which is innovative, unprecedented and not easy. Once the underlying hardware/protocol is stylized, we will kick off trusted data marketplace project. For partnering with other projects and companies, we are selective because we want to work with our partners seriously rather than for PR purposes. We are working with many projects such as Chainlink (we announced the partnership yesterday), Neutral dollar (stablecoin), Celer (l2 scaling), Harmony (zkp projects) and many other companies from the traditional world. As great and solid progress is made, we will make official announcements. 1. How many nodes do you have ? How many token do you need to run a node? And what are the rewards? 2. “IoTeX and Lineable hope to connect 1,000,000+ Lineable devices to the IoTeX blockchain in 2019.” What is the status thereof? I assume you mean delegate nodes — globally we have ~60 delegates on-board and the top 36 of them are serving the network by producing and validating blocks. We specifically designed the low entry barrier for delegate candidates — one has to stake down 1.2M IOTX and get another 0.8M IOTX from others (including oneself) to be eligible as a delegate candidate. Check out the reward details here; my impression is that the annual return is 10% — 15%. Lineable project is going well. They will host their chain (for orchestrating lora gateways) within IoTeX network. We are kind of slow on the development of subchain SDK given other priorities; and we are actively staffing the team to have more hands working on the subchain SDK. “How did you survive during a long bear market? What difficulties, if any, have been encountered in this period?” What has been the biggest technical challenge that you overcame this year? And what from your pov is the biggest one to come , this year and beyond? Do you see IoTeX having a role in home surveillance and home automation some day — and of what kind? To be honest, I don’t have a strong feeling about the bear market in the past year since we have been so focused on building things :) I am an early bitcoin investor and user and tell me about the bear markets — bitcoin has been through many much tougher market situations and it is true that a blockchain project (including its token) becomes valuable only after being through tough times! In terms of the technical challenge, it is an interesting topic. We used to have lots of internal discussions around the technical roadmap — opinion 1 is to develop a useful blockchain by focusing more on the application/user-facing features while option 2 is to focus on the moonshot features which will likely not useful in the near term but important for the future. Both of them are legit and great. I would think option 1 may partly because the aforementioned “bear market” made people more realistic and desperately want a landing case for blockchain. Still, we decide to go for option 2 since we are an ambitious project for changing the world. The biggest one to come this year and beyond is decentralization — I feel like the industry focus is slightly off the right track as it puts too much attention on scalability technologies such as sharding — for which I think it is totally wrong. The blockchain is only valuable cuz it provides low-cost trust which roots in the decentralization. If one wants a fast system, there are many such as cassandra and kafka. Blockchain is not meant to be fast, at least the layer 1 chain. Yes! Device identity and trusted data are the two concrete things we are working on rewarding IoT+blockchain. We have quite a few inbound requests from home surveillance manufacturers and companies around these two. Can you explain better so that the token is used IoTeX Foundation and Ecosystem? Could you update the amount of available foundation and Ecosystem tokens? Why are not the foundation and Ecosystem tokens used for new associations? Any explanation of the current status of the iotex project? Do you plan to sell OTC iotex tokens? In that case, what provision of tokens are available for sale. Why is not iotex published in more media crypto and YouTubers? What idea of expansion is there currently, globally, which countries are you most interested in? How many fairs of iot and crypto do you plan to go to in 2019 and 2020? How many companies have contacted you interested in security iot? How many staff resources do you currently have? How much available capital is there for the project? People are procured with the alts, in what position do you think is iotex as a project, from 1 to 10? Why do you think iotex is better than similar projects? Do you have a board of directors, how often do you meet? Early stage venture capital investors, is there any of them that joins the board of directors and decisions? How can big investors contribute to iotex? He thinks it would be interesting to buy more tokens from venture capital investors. Do you communicate with new venture capitalists and other iot companies to buy iotex tokens? Thanks for such a list of thorough questions. The Binance Research Report will have some concrete numbers for some of the questions here; let me address them from a high level. IOTX is used for governance (through staking/voting), utility (like gas in Ethereum) and operating of subchains in IoTeX Network. Please see the Binance Report for concrete numbers of tokens allocation. One change we made recently is to distribute last trance of the private-sale tokens in July (which is already done) according to http://member.iotex.io/polls. Otherwise, everything else stays the same. Foundation and ecosystem tokens will be used for incubating new projects/initiatives on top of IoTeX network. We received some ideas and applications already and are selecting which are the ones we want to start with. We have no plans to sell IOTX via OTC. Any interested investors can buy from the secondary market. We are focusing on building :) As the project gets more well-established, we are talking about ourselves more on media, conferences and etc.. We already have enough number of inbound queries from IoT companies to start with. We are a team of 30+ people and most of us are engineers and scientists. For procuring of tokens, I cannot give financial advice. IoTeX has an ambitious vision and solid execution, it is a great project. We have few advisors from IoT industry, academia and venture side, and we meet roughly once a month. We are open to strategic investors especially the ones coming with industry resources. We are working with some of them but cannot disclose the details for now. What role do you think IOTEX will play in making blockchain highly adaptable in the worldwide stage? IoTeX’s role is clear — it connects the physical world and the blockchain world by leveraging the machines/devices and things. To make it highly adaptable, IoTeX has this blockchains-in-blockchain structure that we encourage applications/scenarios to have their specific subchains that acting like adapters to specific verticals. It is interesting to see that Polkadot adopts similar designs which they call parachains. Where do you and the team see the world of blockchain being in years to come, and how will $vita change the landscape of the cryptocurrency space in years to come? What do you think is the biggest problem Team will solve that no other project is solving now, and why is the problem important to solve? Connecting the physical world with the blockchain world is a huge trend in the next 5 years. VITA’s mission is to engage the community and make crypto super easy to use for normal people in this world, so it is another way to connect the physical world with the blockchain world. The important problem is “how to connect physical and blockchain worlds”. This is super important: 1. The physical world needs a parallel virtual world to enable programmability and automation for lots of things; 2. The blockchain world needs to have an impact on physical world to demonstrate its value and generate revenue potentially. There are very few projects working on this now, e.g., chainlink takes a great first step on this. IoTeX continuously pushing this forward. When you look back to the day you guys started IoTeX, are you guys satisfied with the progress you have made? When you say IoTeX is a truly private blockchain, how do you think it is better than other private blockchain implementations in the industry? I am super impressed by the progress of the team — we started with three co founders and we now have 30 employees all over the world and ~100K people in our community in 18 months; we started with a whitepaper and now we have a decentralized, stable and performant public blockchain already processed 1million transactions and every line of code of this blockchain is written by us, no fork, no clone. IoTeX project has been highly recognized in the industry by top exchanges, top institutional investors and top companies in internet and IoT industry. Very different. If you look at the privacy-focused blockchains as Monero, Zcash and Grin — they are all slow, hard to use (like in Grin, sender and receiver should cosign a message before transferring coins) and has limited privacy (like monero has limited anonymity set). Most importantly, they set a high bar for developers and users to embrace this privacy technology. What we want is to set a privacy-preserving enabled platform so users and developers can enjoy using it without hassling with the hardcore techniques underlying. Also compared to ZKP, ring-sig approaches, our TEE-based approach provides faster and easier user experience. What killer features has IoTeX that are ahead of the competition and how does IOTEX intend to open up the technology to the community and to researchers so it can be continuously improved on? In short, PoS-based decentralization and TEE-based trusted computing are the two killer features of IoTeX. The former one is in production, and we are welcome anyone to join our Delegate Program! The second one is still under R&D stage and we will gradually open to the community once features are stabilized. Is it possible to introduce such an option as re-delegation of profit (type of reinvestment) so that the coins are not sent to the delegate’s purse but are automatically delegated, implementing the concept of compound interest. Hah, this is the second time I received such a requirement! This is something definitely technically feasible and let me pass this back to my PM as they are building an auto reward-distribution service for all delegates and this could be one fancy feature. 1. Do you guys worry when the price of your token goes down in the market and try something to bring it up? 2. Why did you made the Vita token pre-mined? 3. Do you believe adding Blockfolio, Citex as delegates will benefit Iotex in the long run? A little bit since we do not let our supporters suffer; but not too much since we know it will pick up in the near future. Basically to me, the “blue chip” age in the crypto market is coming or already came. Great projects with an ambitious vision and solid execution are getting more attention from the market. VITA is not pre-mined, as the purpose is to create a fair token for everyone to enjoy. We have no intention to do fundraising using it. Yes, if you look at our delegates they are really coming from different sectors — community/media, tech, investors, exchanges/wallets, developers, ambassadors. All of them are contributing and make IoTeX a prosperous ecosystem! Check to see who they are I saw that IoTeX is currently holding its first network-wide vote via smart contract. Why is such community engagement important for IoTeX and what role will this type of voting play going forward? What kind of decisions do you think is important from IoTeX to put to the community? Great question. Decentralization is the soul of a blockchain. Every shareholder’s opinion is important to us! We will have more voting events like this regarding how to grow tech, community, token economics and etc.. What’s your outlook on the future of cryptocurrencies? What can we do to keep increasing adoption? We long both crypto and the world! We identify ourselves as the connector of the physical world and blockchain world, which will have massive adoption. Can you explain why IoTeX is unique and how you expand your project? IoTeX’s role is clear — it connects the physical world and the blockchain world by leveraging the machines/devices and things. PoS-based decentralization and TEE-based trusted computing are the two killer features of IoTeX. What other platforms (if any) are you and your team working on to expand blockchain development and technologies? We are exclusively focused on IoTeX Network for now but we use different techniques/tools to make it better such as graphql, typescript, tee and etc.. Hello, I’m just a newbie in this current new world, what’s your plan to expand/grab knowledge about cryptocurrency especially for IOTEX project? docs.iotex.io is definitely a great place to start. We will also launch our codelabs in a few weeks which would be a great place for starters. You can also check out lots of useful resources here https://www.iotex.io/community-resources How do you see the project develop in 3–5 years from now, both business wise & company wise? What are the plans to expand in different regions? Will you outsource the team/skills or keep it centralized and set up offices? The past 18 months is a great start for the project and we are working even harder since then. This year we aim to finish most of the tech foundation (blockchain + trusted computing); 2020 will be one year we focus on some use cases — device identity, trusted collecting of IoT data, trusted storage of data and compute. Second half of 2020, we will focus on commercialization of such as the data marketplace on top of our technologies. In terms of where to start, we found out that Asian and Europe are most passionate about IoT that’s where we will likely to push first. Decentralization is the soul of the blockchain, both at operation level (e.g., delegates) and organization level (e.g., diversified team and decentralized offices). We are always trying to make IoTeX more decentralized and we would love to have believers to join us no matter from where! Why iotx doesnt spend more time to promote more news about the project? We are focusing on building :) As the project gets more well-established, we are talking about ourselves more.
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