Ethos ETHOS

$0.1447
Market Cap $ 13.484 MM (#183)
24h Volume $ 605.459 K
Chg. 24h: -0.06%
Algo. score 3.2/5  (#383)
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Ethos News

At Ethos we value self-custody, which is the act of personal...

At Ethos we value self-custody, which is the act of personally owning and controlling your private keys. To empow… https://t.co/6iafa6q4bw

a day ago

The Ethos Dev Dashboard has been updated, as High Performanc...

The Ethos Dev Dashboard has been updated, as High Performance Update v1.7 is reaching its final rounds of testing.… https://t.co/28qELsoLVJ

2 days ago

Ethos CEO @shingolavine was interviewed by Changelly for the...

Ethos CEO @shingolavine was interviewed by Changelly for their new #cryptotalks series on, "Building a Financial Ec… https://t.co/OpXuvlHztX

6 days ago

Towards a free market for P2P governance

Think what you want about his ideas, you can’t deny that Ethereum researcher Vlad Zamfir has a knack for the politics of attention. Over the weekend, Vlad published “Against Szabo’s Law, For A New Crypto Legal System,” announcing it with a tweet saying that he was willing to die on the hill of his argument. The rhetorical theatrics, as well as the “throw a rock at the big kid on the playground” technique did exactly what they were supposed to do and pretty soon, everyone was debating the piece. In the spirit of lively political debate, I’d like to make two arguments via The Block. First, what Vlad is talking about is more about governance than law. Second, that as the conversation about governance grows, users will more consciously self-select protocols and applications whose approaches make sense to them, ultimately evolving into a free market for p2p governance (defined as the upgrade path and coordination mechanism for a protocol’s features, security responses, economics, monetary policy, core developer leadership, dispute resolution, changes to governance itself, and more). Governance, not law Some perceptive observers noted that “Szabo’s Law,” as Zamfir titled it, was not, in fact, a law. A more accurate term might be an ethos or shared philosophical disposition. That ethos in question is non-interventionism. The TL;DR version of Zamfir’s articulation of Szabo’s law is that public blockchains shouldn’t be intervened with except to perform technical maintenance. In a response to the piece, Vitalik Buterin pointed out that this sort of philosophical non-interventionism is consistent with classical conservative thought. Another commentator, Elliot Olds made an analogy to Libertarianism, arguing that, if we imagined he was talking about libertarian philosophy rather than blockchain governance non-intervention, most of Zamfir’s critique could be ported 1-to-1. What’s really at question in Zamfir’s critique of Szabo’s Law are changes to the protocol: Who can intervene? About what can they intervene? What is the process by which that intervention takes place? These are questions of protocol governance. The users, miners, stakers, validators, and other types decentralized workers (dWorkers) that make up a blockchain ecosystem represent a voluntary network who agree to function on the basis of the rules of that network. How those rules change is, in fact, the key substance of blockchain governance. It is also the substance of what Szabo’s “law” is about: not making changes except with regard to technical maintenance. It’s a philosophy of governance - a very specific philosophy of minimized governance, but a philosophy of governance nonetheless. It’s important to define our terms in this case because invoking “law” brings with it specific meanings - such as recourse under the law based on your physical jurisdiction, as compared to the free exit available to all in voluntary blockchain networks - and specific implications - the interaction between existing global legal systems and blockchains, rather than the internal functioning of a blockchain network. Ultimately, while there are many important conversations to be had about the long term relationship between blockchain governance models and the legal systems they operate in - such as whether the voluntary rules governing blockchain networks can be enforced through existing world contracts - that isn’t really what Zamfir is getting at for most of the piece. Fundamentally, he’s critiquing what he considers dogmatic non-interventionism and asking (as Kyle Samani put it) “why can’t we change the thing?” That’s a governance question. A Free Market For Governance Models It isn’t surprising that Zamfir’s post has created such a ruckus. Beyond the fact that crypto loves drama and Vlad set it up to max effect by framing his argument as an indictment of a specific well-known figure, governance has moved firmly into the mainstream as an area of focus. I’ve been studying it since the early days of Web3 and even wrote an essay on the growing importance of blockchain governance back in December. Part of this has to do with the fact that, as time goes on, blockchains inevitably face issues that demand dispute resolution. These can be major issues - like hacks, thefts, and loss of funds. They can also be much more mundane - resource allocation, development roadmaps and operating priorities. As, over time, people and communities encounter more and more issues that feel like they need a process for resolving, the demand for governance increases. Importantly though, over the last year, the supply of governance has also increased, in the sense that new approaches that were once only theoretical have actually gone live. There is a positive feedback loop between recognition of the need for governance models (demand) and more models to choose from (supply). People’s sense of what is normal is shaped by what’s around them, so as projects implement more formal approaches to governan

13 days ago

Did you know that you can swap Ethos Tokens for @amazon or @...

Did you know that you can swap Ethos Tokens for @amazon or @BestBuy gift cards using @ethershiftco? You can also… https://t.co/SYJewzZFig

13 days ago

The Ethos Dev Dashboard has been updated and version 1.7 is ...

The Ethos Dev Dashboard has been updated and version 1.7 is now in beta testing. Check out the latest update to the… https://t.co/QaFJWgHeLf

15 days ago

The Ethos Token profile is now available on @CryptoCompare. ...

The Ethos Token profile is now available on @CryptoCompare. Check out the details on Ethos, and while you're there… https://t.co/XjWdG5zkT3

16 days ago

Ethos Universal Wallet Integrates Binance Coin (BNB), Dai (DAI) and Maker (MKR)

The team behind the Ethos universal cryptocurrency wallet continues their hard work and integrations as the past week saw the announcement of support for Binance Coin (BNB), the Ethereum based stablecoin Dai (DAI) and its counterpart Maker (MKR). The announcement of support of BNB also included some new facts about its upcoming decentralized exchange, including the fact that the BNB token will be used as Gas on the exchange and BNB tokens will continue to be burned until there are only 100 million remaining in circulation. (JF)

19 days ago

Bitcoin Venezuela Develops Tiny Mesh Nodes For Off-Grid Transactions

Mesh networks mesh [sorry] very well with the libertarian ethos of Bitcoin, freeing users from the tyranny of state-regulated ISPs. Necessity being the mother of invention, Bitcoin Venezuela are developing a mesh node little larger than an SD card. A Hot Mesh Mesh networks are a hot topic right now. They are able to provide robust, secure connectivity in areas where it would otherwise be...

21 days ago

Today, we feature @binance Coin $BNB - available now on the ...

Today, we feature @binance Coin $BNB - available now on the Ethos Universal Wallet. Binance is one of the World's l… https://t.co/f2i1ATN2yN

22 days ago

Indonesia’s First Unicorn Go-Jek Buys Bitcoin Startup

Indonesian multi-platform behemoth, Go-Jek, recently acquired Philippine-based Cryptocurrency payment company, Coins.ph. Reports indicate the move allows Go-Jek to expand its cashless service delivery across its plethora of service delivery platforms. Go-Jek Buys Majority Stakes in Coins.ph According to TechCrunch, Go-Jek acquired majority stakes in Coins.ph in a deal worth north of $70 million. Announcing the move, Go-Jek CEO, Nadiem Makarim, said: Today’s announcement marks the start of our long-term commitment in the Philippines and the continuation of our mission to use technology to improve everyday life and create positive social impacts. Go-Jek, currently valued at more than $10 billion is the first company in Indonesia to achieve Unicorn status. In 2o17, Fortune included Go-Jek in the Forbes list of 50 companies that changed the world. The company already has a major presence in Southeast Asia and intends to enter the Filippino and Malaysian markets. It is this international expansion drive that sees the company acquiring Coins.ph, one of the leading cryptocurrency and mobile payments platforms in the Philippines. In less than five years, Coins.ph has built a customer base of more than 5 million users. Back in December 2018, the company reported that it was processing over $6 million worth of transactions per month. For Ron Hose, the Coins.ph founder, the move signals the extent of the company’s growth in the Southeast Asian theater. Starting in the Philippines, the company now has operations in Singapore, Thailand, and Vietnam offering cryptocurrency and mobile payment services. Speaking to TechCrunch, Hose revealed that the company was in the midst of securing additional funding when the Go-Jek deal emerged. Commenting on the matter, Hose said: We had to make a decision on how we want to continue growing our business, and we felt like ultimately together with Go-Jek we could build something that is overall bigger and better for our customers. Go-Jek’s Foray into Cryptocurrency Payments The Go-Jek multi-platform ecosystem comprises of several businesses in diverse business segments including ride-sharing, logistics, and digital payments, to mention a few. Through Go-Pay, Go-Jek already executes over 50 percent of the transactions in its ecosystem via cashless payment avenues. The Coins.ph acquisition will enable the Tencent-backed Go-Jek to introduce cryptocurrency payments to its customers across all these platforms. In many places across Southeast Asia, the majority of the population remains unbanked. More than 77 percent of Filipinos are unbanked, but a greater majority of people have access to mobile phones. Go-Pay CEO, Aldi Haryopratomo believes that there is a vast opportunity for the company to bring financial services to people historically disenfranchised in the global payment arena. Commenting on the deal, Haryopratomo, said: We are excited to work with Coins.ph, a company that shares our ethos of empowering communities by bringing more people into the digital economy. Consumer transaction behavior in Indonesia and Philippine share many similarities, and together with Coins.ph, we hope to have similar success in accelerating cashless payments in the Philippines. Meanwhile, cryptocurrency adoption appears to be making headway in the Philippines as well as other places in Southeast Asia. Back in September 2018, financial regulators in the Philippines began considering creating a legal framework for exchange platforms. Do you think this deal will bring payment service delivery closer to unbanked people in the Philippines? Let us know your thoughts in the comments below. Image courtesy of Shutterstock The post Indonesia’s First Unicorn Go-Jek Buys Bitcoin Startup appeared first on Bitcoinist.com.

23 days ago

Binance Crypto and Blockchain Event in Singapore a Resounding Success

The final presentations of the Binance Blockchain Week in Singapore have concluded today marking the end of the four day event which has attracted thousands of attendees. Two Day Conference Follows Two Day Hackathon The event has been a resounding success with many of the biggest names in the industry taking the stage to promote the crypto ecosystem and a blockchain future. The world’s largest exchange by trade volume identified the need for a unifying conference in a market with a ‘large degree of turmoil’ at the moment. The goals of re-energizing and uniting efforts as uncertainty plagues the industry have been at the forefront of proceedings in Singapore. The first two days held a hackathon based on the Binance ‘buidl’ ethos of working together to improve overall crypto security and foster a safer trading environment for the public. Using the Secure Asset Funds for Users (SAFU) acronym, teams from around the globe entered into friendly competition to enhance innovation in the industry. Some of the innovative concepts from teams included deep graph analytics, avalanche consensus on a custom ledger, an e-commerce platform for a database of user reputation, and a crypto scoring platform. The winning team, Merkle Blox, proposed a smart contract based insurance to victims of hackers, ponzi schemes, or phishing scams. A prize of $50,000 in BNB was awarded. A massive congratulations to the three winning teams of the #Binance #SAFU Hackathon who shared a prize of $100,000 USD worth of $BNB! Teams Perlin, Crypto Lynx & the overall winners Merkle Blox we salute you! #BUIDL #BinanceBlockchainWeek pic.twitter.com/ywixYx43S7 — Binance (@binance) January 21, 2019 The last two days have held the Binance Conference during which over 50 of the biggest names in the industry took to the stage to present their visions for the future of crypto. Yesterday held presentations from several CEOs and industry leaders on a range of topics including decentralized exchanges, dApp adoption and scaling, security token offerings, proof of work, and regulatory frameworks. Today’s presentations included Da Hongfei, NEO founder, talking about the smart economy, followed by a discussion on crypto news and quality information. Justin Sun took the stage for his keynote on a new world of dApps on the blockchain with a good deal of promo for the new BitTorrent and Tron ecosystem and upcoming airdrops for TRX holders. TRON founder @justinsuntron is giving a speech about the progress that #TRON has made and the related information about #BTT at Binance #BlockChainWeek in Singapore. pic.twitter.com/ZlrJZv6q73 — TRON Foundation (@Tronfoundation) January 22, 2019 Others taking the stage over the two day conference included CEO of eToro Yoni Assia, Anthony Pompliano, and of course CZ himself. Representatives from the Ethereum Foundation, Ripple, R3, Qtum, OmiseGO, Ontology, ConsenSys, KyberNetwork, Etherscan, Goldman Sachs, and Circle all added to the mix. The message from the Singapore event has been very clear; crypto is here to stay and building a brighter future for the ecosystem is far more productive than simply focusing on markets and prices. Image from Twitter The post Binance Crypto and Blockchain Event in Singapore a Resounding Success appeared first on NewsBTC.

23 days ago

We are excited to share that @Etherflyercom has listed the E...

We are excited to share that @Etherflyercom has listed the ETHOS token with an ETH pair on their decentralized exch… https://t.co/oKQnEngujf

24 days ago

3 Blockchain Conferences You Don’t Want to Miss in 2019

Blockchain conferences are an excellent mechanism to meet, greet, learn and perhaps, most importantly - network. Whether you are a crypto-startup looking to attract new waves of investment, an innovative developer hoping to showcase your talent to the masses or just looking to meet like-minded individuals that share the same ethos as your product or brand, blockchain conferences can facilitate these goals with ease. While 2018 was a massive hit for blockchain conferences worldwide, 2019 looks set to continue the trend. Here we explore three of the most notable conferences lined up for 2019 that we think you should consider attending. Japan Blockchain Conference (JCB) Yokohama Round 2019 - 30-31 January 2019 What better place to start than one of the most crypto-friendly nations around? Not only did Japan become the first country in the world to regulate Bitcoin in the very same way that it does its domestic financial service industry, but the Japanese Yen now accounts for more Bitcoin trading volume than any other currency, at a remarkable 47% of the market. Moreover, with more than 200,000 Japanese stores now accepting Bitcoin and other cryptocurrencies as a means to purchase goods and services in-person, the Asian-powerhouse are taking real-world adoption to the next level. As such, the Japan Blockchain Conference is set to be one of the most notable to date. Hosted by the Global Blockchain Association, Japan Blockchain Conference facilitate a range of leading Japanese companies that are looking to enter the space, and the presence of multiple high-profile speakers will ensure that the event is a must-see opportunity. This includes the likes of Charles Hoskinson from Cardano - a project that is well regarded in the blockchain community for utilizing the expertize of leading academics, with the aim of ensuring the long-term sustainability of the cryptocurrency eco-system. Joining Hoskinson is Ken Kodama of Japanese-based Emurgo, John McAfee, and bitcoin believer and VC investor Tim Draper. Consensus 2019 13-15 May 2019 - New York Coindesk - who are often seen as the leading hub for cryptocurrency and blockchain technology news and developments are set to launch the 5th edition of their Consensus Conference. Being held at the Sheraton New York Times Square and New York Hilton Midtown, Consensus will play host to a range of industry professionals from the within the blockchain space. This will include delegates from investment firms, academic institutions, exciting startups, and policy groups. Across three days of networking, it is believed that the Coindesk Consensus will facilitate the attendance of more than 8,800 people. While Coindesk are still keeping tight-lipped on their line-up if their 2018 edition is anything to go by, it looks set to be another heavyweight event. The Coindesk Consensus has grown exponentially since its inception in 2015, which saw just 400 attendees. Since then, the event has attracted significant year-on-year growth, with 2019 being no exception. 4th annual DC Blockchain Summit 6-7 March 2019 - Washington The DC Blockchain Summit is now in its 4th edition, with the event set to re-open its doors on 6-7th March 2019. In what the conference labels as ‘Advocating for the future of blockchain’ the main concept behind the DC Blockchain Summit is to bridge the gap between the crypto-world, with that of the policy community. Such discussions are paramount if Bitcoin and other cryptocurrencies are to gain global adoption. Without the collaboration and support of policymakers, real-world adoption will be hindered. As such, the DC Blockchain Summit is the “Ground zero for many of these discussions.” To illustrate the seriousness of such a conference, there is set to be a range of speakers from within the political community. This includes the likes of U.S. Republicans Tom Emmer, Bill Foster, and David Schweikert, who collectively make up the Congressional Blockchain Caucus. On top of this, there will also be an in-flux of representatives from the Chamber of Digital Commerce, such as Amy Davine Kim, Paul Brigner, and Perianne Boring, who all hold senior roles at the organization. Outside of the regulatory community, Brad Garlinghouse, CEO of leading cryptocurrency Ripple, will also be making an appearance. Blockchain conferences all around In conclusion, while the likes of the Japan Blockchain Conference, Consensus Coindesk and DC Blockchain Summit made our list of the three most unmissable conferences in 2019; others missed out by only a smidgen. Whether it’s from a regulatory, policy, technological, investment, development or all-around cryptocurrency perspective, 2019 looks set to be the year for blockchain conferences. From Japan to the U.S, Malta, Singapore, Australia, Russia and many, many other locations hosting notable events this year, which conference will you be attending? The post 3 Blockchain Conferences You Don’t Want to Miss in 2019 appeared first on CryptoPotato.

24 days ago

Hot Crypto Topics on The Table at Binance Blockchain Week

It has been a busy week for Binance with the launch of another new exchange and the four day blockchain event currently running in Singapore. Running from January 19 to 22 the Binance Blockchain Week has drawn thousands of attendees to see some of the biggest names in the crypto industry. The first two days hosted the Binance SAFU Hackathon while today and tomorrow is the Binance Conference. The official website has highlighted the need for such an event as the industry is currently going through a tough time; “Currently there is a large degree of turmoil in the crypto market. Uncertainty is plaguing the industry and companies are facing a growing number of challenges. There is a need to unite efforts and initiate a global blockchain movement that will re-energize and create a positive orientation for blockchain and the industry as a whole.” The hackathon is part of the company’s SAFU, Secure Asset Funds for Users, and ‘buidl’ ethos which involves working towards better products and security for the future of crypto and blockchain applications. Building a safer environment to trade crypto will be paramount to its wider adoption and Binance is at the forefront of security. Congratulations to Merkle Blox!! The winning team of #SAFU Pre-hackathon Singapore, which is organized by @binance and @bit_temple , win the final CHAMPION of #SAFU HACHATHON!!! @EventBinance #BUIDL #BUIDLers #SAFU #SAFUHackathon pic.twitter.com/C8BEw2RGxb — BitTemple (@bit_temple) January 20, 2019 The conference, which is currently ongoing, is a showcase where over 50 “dedicated, extraordinary and creative minds in the blockchain space will gather to discuss current industry trends, hot topics and seek innovative solution to explore further development of blockchain ecosystem.” In addition so Binance boss CZ is Yoni Assia, CEO of eToro, Da Hongfei, Founder of NEO, Tron founder Justin Sun, Anthony Pompliano, Partner of Morgan Creek Digital and representatives from a number of crypto organizations including Ripple, PwC, Qtum, Vertex, Bloq, Ontology, R3, ConsenSys, Circle, and the Ethereum Foundation. The first fireside chat has begun with @cz_binance Founder & CEO of @Binance and @JamesRadecki32 Global Head of Business Development of @CumberlandSays . James was kind enough to gift CZ a @NHLBlackhawks hockey Jersey! pic.twitter.com/qXJWW7nYzm — Binance Blockchain Event (@EventBinance) January 21, 2019 Following the fireside chat with CZ the first panel discussed ‘Lessons Learned in Crypto and Token Investments’ which was followed up with ‘The United Nations of Blockchain: New Solutions to Sustainability Development Goals’. Tomorrow’s conference items include NEO founder Da Hongfei talking about the ‘smart economy’ and Justin Sun on dApp ecosystems on the blockchain. Stablecoins and enterprise blockchain solutions will follow lunch with the emerging markets in crypto to watch in the afternoon. Unlike major tech fairs organized by the likes of Microsoft or Apple to tout their own products and services, crypto conferences are largely team oriented affairs. Binance has started what will likely be a growing trend in creativity and productivity for the industry which is good news for anyone with an interest in crypto and a desire to see it grow and become a part of our daily lives. The post Hot Crypto Topics on The Table at Binance Blockchain Week appeared first on Ethereum World News.

24 days ago

Indonesian Unicorn Go-Jek Acquires Majority Stake in Filipino Crypto Wallet

Indonesian unicorn Go-Jek has announced a partnership between the company’s payments platform, Go-Pay, and Filipino cryptocurrency wallet Coins.ph. Local media has reported that the deal will see Coins.ph continue to run as usual, despite Go-Jek now owning a majority stake in the company. Also Read: Executives of Korean Exchange Sentenced to Jail for Faking Volumes Go-Jek Announces Partnership With Coins.ph Go-Pay, the payments platform of Indonesia’s largest on-demand service platform, Go-Jek, has announced that it has entered into a partnership with Filipino wallet provider Coins.ph. While specific details regarding the deal have not been officially disclosed, Manila Standard reported that the deal will include a “substantial acquisition” of shares by Go-Jek, giving the country a majority stake in Coins.ph. Citing two undisclosed industry sources, Techcrunch has reported that the deal saw Go-Jek pay $72 million for the shares. Launched in Jakarta in 2011, Go-Jek now comprises Indonesia’s largest on-demand multi-service platform, with Krasia estimating the company’s most recent funding round to have boosted Go-Jek’s valuation to between $8 billion and $10 billion. More than half of all transactions processed by Go-Jek are conducted through Go-Pay. Coins.ph has grown to support a customer base of over 5 million in less than five years of operating, with the company claiming to have processed 6 million cryptocurrency transactions during the month of December 2018. Many Filipinos Lack Access to Basic Financial Services The two companies have their eyes set on the Filipino market, where 77 percent of adult citizens do not have bank accounts. While few citizens have access to financial services, nearly 70 percent of Filipino citizens use mobile phones - a confluence of demographics that many analysts believe makes the Filipino market ripe for widespread cryptocurrency adoption. Ron Hose, the founder and chief executive officer of Coins.ph, stated: “In just a few years, our team has been able to build a scalable service extending financial services to millions of Filipinos ... Together we have a tremendous opportunity and by leveraging Go-Jek’s resources and expertize, we can give Filipinos even more convenience, choice, and access to the services they want.” Aldi Haryopratomo, the chief executive officer of Go-Pay, stated: “We are excited to work with Coins.ph, a company that shares our ethos of empowering communities by bringing more people into the digital economy. Consumer transaction behavior in Indonesia and Philippine share many similarities, and together with Coins.ph, we hope to have similar success in accelerating cashless payments in the Philippines.” What is your response to Go-Jek’s acquisition of a majority stake in Coins.ph? Share your thoughts in the comments section below! Images courtesy of Shutterstock At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more. The post Indonesian Unicorn Go-Jek Acquires Majority Stake in Filipino Crypto Wallet appeared first on Bitcoin News.

25 days ago

Ethos Universal Wallet Integrates with ShapeShift to Enable Coin Swaps

Ethos (ETHOS) has announced the release of its Universal Wallet v1.6, and included in the new update is an integration with ShapeShift crypto exchange and ecosystem. The ShapeShift platform allows for the easy swapping of a wide-variety of tokens, all while the users' private keys remain securely in their possession and control. The Ethos Universal Wallet is a self-custodied mobile wallet that allows users to store, track, send and receive over 140+ tokens. (JF)

a month ago

Ethos Begins Supporting Direct Crypto Purchases in Its Universal Wallet

On Wednesday, Ethos, a blockchain-based crypto storage and monitoring platform, announced that it had partnered with Simplex, to introduce the firm’s crypto purchasing functionality to its universal wallet. Per the announcement, the new feature comes with the Universal Wallet v 1.6 update, and it would allow users to buy Bitcoin and other altcoins using credit and debit cards. According to Ethos founder and CEO, Shingo Lavine, the Universal Wallet will become the most accessible for adopters to interact with digital currencies using innovative services such as Simplex. The Simplex feature currently supports direct purchases of leading cryptocurrencies such as BTC, ETH, and XRP. (VK)

a month ago

ShapeShift Aided 60 Law Enforcement Inquiries in 2018, Erik Voorhees Reveals

It seems like ShapeShift has done exactly as its name suggests, changing form almost beyond recognition. Founder, CEO, and no fan of the SEC, Erik Voorhees’ exchange once existed without accounts. Now they have full KYC and hand over customer data upon request. ShapeShift Shocked Crypto World With KYC In what can only be described as a seismic shift in ethos, ShapeShift started implementing KYC in September 2018. They first sugarcoated it as a “membership program,” for which users would have to provide “basic personal details.” This would allow the exchange to reward them in the form of higher trading limits, cheaper fees, and the like. Whichever way you spin it, however, the company was paving the way for full KYC/AML. And all customers would have to undergo it by the end of the year. Voorhees later admitted the decision was largely due to “regulatory hurdles.” It also stung the company financially, forcing them to lay off some 37 employees. ShapeShift made a name for itself as a frictionless way to move crypto funds. But if the company was to compete in a regulatory environment that’s increasingly heating up, it would have to get compliant. Plain and simple. ShapeShift and Law Enforcement A blog post tweeted out by Voorhees yesterday may shock its users who thought they had complete anonymity before Q3. Making a reference to Kraken and how their transparency with law enforcement inspired ShapeShift to also help, they say that in 2018, the exchange aided in 60 law enforcement requests. Kraken inspired us to convey similar transparency in law enforcement requests. Voila... "Pulling Back The Curtain: How ShapeShift Handles Law Enforcement Compliance" https://t.co/aGVqeLvR4C @krakenfx @jespow #bitcoin #blockchain — Erik Voorhees (@ErikVoorhees) January 18, 2019 The below charts depict the various types of law enforcement requests that come in different forms from governments around the world. The company says: In the United States, they often take the form of subpoenas... What probably won’t come as a surprise is that the United States makes up the largest number of these requests. A subpoena is a court-ordered request that essentially forces a person or entity to take an action. This could either be to testify before a court or hand over documents. Voorhees is no stranger to these. What’s interesting is that there was an influx of requests towards the end of quarter three and moving into quarter four. The company says that this is congruous with other crypto companies in the industry, citing Market Watch. ShapeShift No Longer Anonymous in Anyway For users who thought that moving crypto through ShapeShift was a viable way of facilitating criminal activity, KYC clipped their wings. And if they had any notion that their transactions were anonymous on ShapeShift at any point last year, they just go a wakeup call. There’s a lot of scrutiny on cryptocurrencies as the technology and use evolves. ShapeShift has always held financial transparency as a core principle, and for this reason, we felt the world should know that these types of law enforcement requests happen - almost continuously. What do you think about Shapeshift aiding law enforcement? Share your thoughts below! Images courtesy of Shutterstock, Shapeshift.io The post ShapeShift Aided 60 Law Enforcement Inquiries in 2018, Erik Voorhees Reveals appeared first on Bitcoinist.com.

a month ago

O que é MimbleWimble? Guia completo

Por: Livecoins Em 2 de agosto de 2016 um arquivo de texto foi postado anonimamente em um fórum de desenvolvedores do Bitcoin descrevendo o protocolo MimbleWimble. O objetivo era criar uma alternativa a blockchain do Bitcoin, mas com soluções para problemas de escalabilidade e recursos de privacidade. Em 20 de outubro de 2016, um outro desenvolvedor anônimo postou no mesmo fórum que ele estava trabalhando em uma implementação em cima do protocolo MimbleWimble - A Grin. Uma Breve História do White Paper MimbleWimble Em agosto de 2016, Tom Elvis Jedusor (nome francês de Voldemort nos livros do Harry Potter) postou o white paper do MimbleWimble no fórum sobre bitcoin, e depois desapareceu. “Mimblewimble” que também é um termo usado no livro ” As Relíquias da Morte“, era uma proposta de blockchain que teoricamente poderia aumentar a privacidade, a escalabilidade e a fungibilidade. Em outubro de 2016, Andrew Poelstra, matemático da Blockstream, escreveu um artigo preciso explicando a ideia do protocolo e acrescentou melhorias. Alguns dias depois, Ignotus Peverell (nome que também veio de “Harry Potter”, o dono da capa da invisibilidade, caso você não conheça os personagens de Harry Potter) iniciou um projeto no Github chamado Grin (Sim! Este projeto) e começou a tornar o protoclo MimbleWimble em realidade. E em março de 2017, Ignotus Peverell publicou uma introdução técnica ao MimbleWimble e Grin no Github. Desde então, Grin foi sendo desenvolvida por vários membros da comunidade e, após vários estágios de testes, foi lançada no dia 15 de janeiro de 2019. Visão geral do MimbleWimble, Grin e BEAM O MimbleWimble é um protocolo blockchain focado em fungibilidade, privacidade e escalabilidade. A documentação do MimbleWimble especifica o usou da mesma criptografia de curva elíptica que o Bitcoin usa, chamando a atenção de muitos pesquisadores de Bitcoin. Originalmente, imaginava-se que o MimbleWimble poderia ser integrado como uma atualização para o Bitcoin ou existir como um sidechain, mas Pieter Wuille, co-fundador da Blockstream e desenvolvedor do Bitcoin Core, esclareceu alguns dos desafios para integração. Em um podcast de 2016 ele disse: “A integração do Mimblewimble no bitcoin de uma maneira compatível com versões anteriores seria uma tarefa difícil. Pode não ser impossível, mas seria muito difícil. Eu acho que se as pessoas tentarem isso, eu esperaria que fosse em uma blockchain separada experimental ou sidechain. Em uma sidechain, não introduziríamos uma nova criptomoeda, mas seria uma blockchain diferente. Existem algumas desvantagens no MimbleWimble, Em particular, ele não usa uma linguagem de script... uma linguagem de script é muito legal para se brincar, mas existe a vantagem da privacidade. Mimblewimble tem recurso muito bom de privacidade. O MimbleWimble não usa linguagem de script expressiva, e isso permite inovações como canais de pagamento (por exemplo, Lightning Network) e swaps atômicos em blockchains diferentes. Duas implementações separadas do protocolo MimbleWimble surgiram, ambos com diferentes considerações em torno da comunidade, ethos, financiamento e detalhes técnicos. A primeira implementação, Grin, que se tornou sinônimo de MimbleWimble, serve como referência principal para a especificação do protocolo hoje. O projeto ainda é mantido por um grupo de programadores anônimos, vários dos quais adotaram pseudônimos de Harry Potter. A segunda implementação, o BEAM, é um projeto iniciado em março de 2018. O BEAM foi apresentado em um white paper separado (juntamente com um nó de mineração totalmente funcional e carteira) assumindo uma estrutura mais formal semelhante a Zcash, em contraste com o ethos anárquico e do código aberto da Grin. A equipe do BEAM é liderada pelo CEO Alexander Zaidelson, um empresário israelense. Com uma equipe de gerenciamento / engenharia definida, pré-venda, uma fundação formal e o fundador, a BEAM adotou uma abordagem muito diferente para apresentar uma alternativa competitiva ao Grin. Além de criar a estrutura formal em torno do projeto, a equipe do BEAM fez escolhas técnicas diferentes da Grin, incluindo decisões relacionadas à política monetária e algoritmo de hashing. O BEAM foi lançado no início de janeiro de 2019 com uma vantagem significativa na taxa de hash. O que é o MimbleWimble? MimbleWimble é basicamente um substituto para a blockchain do bitcoin. É uma proposta para uma “blockchain” que poderia ser implementada como uma sidechain onde você tem uma cadeia de blocos completamente separada e você poderia mover bitcoins para ela e para fora dela. Ou, potencialmente, em um futuro distante, onde testamos e comprovamos essa tecnologia, poderíamos usar esse bitcoin como um tipo sidechain integrado a um sistema. O Mimblewimble difere do bitcoin pois, em vez de ter registros assinados em todas transações, como como no bitcoin, onde você tem uma pilha de entradas e uma pilha de saídas, e cada entrada tem uma chave associada a ela e tem que ter uma assinatura pa

a month ago

Hello, @ShapeShift_io! Now fully integrated into the Ethos U...

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a month ago

MimbleWimble, Beam and Grin: What’s the buzz all about?

It’s not very often that a new cryptocurrency protocol receives so much attention from Bitcoin community members. And if we’re talking about altcoins, the chances for BTC maximalists to get involved are even lower. However, MimbleWimble and its two resulting coins (Beam and Grin) are different. Cypherpunk Jameson Lopp has tweeted about running Grin, some exuberant miners have joined the rush for private gold, and one trader has even offered as much as 10 bitcoins for 0.001 GRIN token. This phenomenon may be due to the fact that MimbleWimble was introduced as a proposal to increase Bitcoin’s privacy - and therefore fungibility - in a minimalistic way (which is evident in the whitepaper). It’s worth noting that in the midst of this overenthusiastic development process, Beam, which operates more like a company, has also provided financial support to the development of Grin - the more cypherpunk implementation of the protocol. Therefore, we might be witnessing a bona fide MimbleWimble takeover. Running grin — Jameson Lopp (@lopp) January 15, 2019 What is MimbleWimble and where does it come from? Those who read the Harry Potter novels should know that MimbleWimble is a spell which ties the opposing wizard’s tongue. It’s a defense mechanism which makes sure that the opponent wouldn’t launch an attack, and maybe that this is a pretty smart metaphor in relation to the ambitions of the privacy-oriented cryptocurrency protocol. This association is revealed by the pseudonymous founder Tom Elvis ( which is the French adaptation of Tom Marvolo Riddle, the original name of Lord Voldemort in J.K. Rowling’s books). He acknowledges in the July 2016 proposal paper that he calls his creation MimbleWimble “because it is used to prevent the blockchain from talking about all user’s information.” Even though Beam and Grin have stolen the spotlight in this first half of January 2019 (around the same time when Bitcoin celebrated its 10th anniversary), the underlying ideas have been circulating for about two and a half years. Now let’s ask the most essential question of all: what sets MimbleWimble apart from Monero, Zcash, and all the other privacy coin protocols? Well, as Tom Elvis Jedusor acknowledges in his paper, the research he’s conducted for a new blockchain is taking lessons from Greg Maxwell’s CoinJoin developments, Nicolas van Saberhagen’s system of blind transactions for Monero, as well as Shen Noether’s Ring Confidential Transactions. Jeduror’s observation is that all these solutions have shortcomings in terms of occupying too much block space, requiring interactivity, and being slow. The result is MimbleWimble: a bold attempt to minimalize these concepts into a protocol that offers privacy by removing some of the weight that makes other projects slow and bloated from too much data. The first step proposed by Tom Elvis Jedusor is to remove Bitcoin Script! Furthermore, according to the amended and expanded version of the whitepaper which Bitcoin Core developer Andrew Poelstra published in October 2016, 16GB of data can be reduced to roughly one megabyte. This is perhaps the biggest claim in terms of efficiency and scalability. Beam and the courageous launch on Bitcoin’s 10th anniversary Beam’s mainnet launch took place on January 3rd 2019, the same day when Bitcoin celebrated its 10th anniversary. It’s the more conservative and business-minded version of the MimbleWimble protocol, backed by a start-up model. This approach is considered to bring quicker development and adoption. In the first two years, Beam is bound to be governed in order to achieve growth, and after this phase the project can finally reach a greater amount of decentralization. It’s worth noting, however, that no ICO has been started and the enthusiasts get an equal chance to mine and/or invest in the project. The conservatism is also apparent in the protocol’s programming language of choice: C++ instead of Grin’s Rust. The mining is also done by using a modified version of the Equihash consensus algorithm (which is also used by Zcash). In terms of monetary policy, we observe a supply model that is similar to that of Bitcoin, and an inflation system which involves founder rewards that are reminiscent to Zcash’s. In total, there will be 262.800.000 Beam coins, and the emission follows a pre-determined halving system. In terms of development, it’s clear that Beam benefits from a head start: it has an official wallet and a large team of developers who work for the improvement of the project. However, it’s worth noting that the first week after the launch was marked by an unfortunate incident: a vulnerability was found in the wallet software, and the issue had to get patched on the same day. Users were advised to remove the old version from their devices and perform a clean install, and so far no further issues have been reported. It will be interesting to see how Beam challenges the throne of Zcash (which it resembles more closely in terms of governance)

a month ago

Let's raise the standards of Trust! Ethos has now listed Tru...

Let's raise the standards of Trust! Ethos has now listed TrueUSD $TUSD by @TrustToken on the Universal Wallet. TUSD… https://t.co/prkBrVz99F

a month ago

Ethos is excited to now be listed on @ethershiftco. Not only...

Ethos is excited to now be listed on @ethershiftco. Not only can you buy or sell ETHOS through Ethershift, you can… https://t.co/o7SQfjDY1a

a month ago

ICYMI: The ETHOS token has been listed on the Nitrogen Netwo...

ICYMI: The ETHOS token has been listed on the Nitrogen Network platform! A new way to borrow and lend crypto in a s… https://t.co/UCw85Ty3fL

a month ago

Ethos is now listed on @Coinected_io! Coinected is a global ...

Ethos is now listed on @Coinected_io! Coinected is a global peer-to-peer marketplace, allowing anyone, anywhere to… https://t.co/mFs0EiM2ZK

a month ago

The top 5 cryptocurrencies to watch in 2019

Market sentiment is changing constantly, requiring individuals to adapt their views. As crypto projects grow, stall, or even die, people must change their expectations and speculations. That being said, here are five crypto assets to watch in 2019. 1 - Bitcoin (BTC) This one may be a somewhat obvious pick. Nevertheless, bitcoin has a lot going for it. It has the most institutional interest, by far. The Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) employed their cash-settled bitcoin futures over a year ago, boosting institutional interest, as well as bitcoin’s credibility. Last year also saw a mass influx of further institutional interest in bitcoin that will carry over into 2019. Interest includes multiple bitcoin exchange-traded fund (ETF ) proposals and Intercontinental Exchange’s (ICE) much-anticipated Bakkt platform with bitcoin-settled futures trading. Bitcoin is also the crypto industry’s largest asset, making up 51.8% of the market cap for the whole asset class according to CoinMarketCap at the time of this writing. Bitcoin is also at more than a 75% discount from all-time highs, priced at just over $4,000 on Blockmodo at the time of this writing. In last year’s interview with YouTuber CryptoBobby, notable bitcoin maximalist Tone Vays also mentioned several points as to why bitcoin stands out from the numerous other projects in the crypto space. 2 - Monero (XMR) Monero is another project of interest for 2019. Monero is different than bitcoin, in that it employs anonymity features. Bitcoin can be anonymous as well, but requires added steps to do so, including buying bitcoin over-the-counter (OTC). Monero makes the anonymity process simpler (although Tone Vays and his group have questioned Monero’s anonymity potential). Additionally, Monero is an interesting choice because unlike most crypto assets, Monero was built using different code than bitcoin, and its founder’s identity is also unknown, as is the case with bitcoin. Monero also has a relatively small circulating supply under 20 million. Although it does employ minor inflation over time, based on their model, making for a controversial topic. Currently at around $54 at the time of writing, Monero is at quite a discount from all-time high prices of more than $400. 3 - Ethereum (ETH) Ethereum is another somewhat obvious choice for this year. The project is still the most popular choice for building initial coin offerings (ICOs). According to an ICO report by Suicide Ventures, 87% of ICOs launched their projects on the Ethereum platform as of October last year. Ethereum is the second highest ranking crypto asset by market cap on CoinMarketCap, at the time of writing, and sits at a major discount from all-time high prices of more than $1,300. Ethereum sits at roughly $152 at time of writing. Based on price alone, buying Ethereum now roughly is equivalent to buying Ethereum back in May of 2017. A recent CoinDesk article also mentioned Ethereum’s price chart currently looks similar to bitcoin’s chart back in 2015, near the end of the last bear market. In contrast to potential price upside, however, TechCrunch wrote an interesting article last fall that described a scenario in which Ethereum’s price fell to zero, but the network still succeeded. 4 - Stellar Lumens (XLM) and Ripple’s XRP Regardless of the centralization debate (mostly regarding XRP), both XLM and XRP are making blockchain application headway in the banking sector. Ripple, in particular, has made many headlines over the last several months with its RippleNet. Just recently, RippleNet announced 13 new clients. There is a distinction between Ripple application and parties that actually use the XRP asset. That being said, of the recent 13 new institutional additions to RippleNet, five of them “will use Ripple’s digital asset, XRP, for liquidity when sending customer cross-border payments,” according to a CoinTelegraph report on the subject. It is hard to imagine XRP disappearing at this point. Although some speculate that XRP is still an unregistered security. XRP is a controversial subject when talking about ideals in crypto. Speaking from a profit perspective, however, XRP is below $0.40 at the time of writing, down from almost $4. Stellar is also partnered with powerhouse IBM, and XLM is down considerably from its all-time price high. 5 - Hedera HashGraph Hedera Hashgraph is an interesting project that has yet to hit crypto exchanges for trading. The project differs from blockchain technology. According to Hashgraph’s website, its “platform is lightning fast, fair, and secure and, unlike some blockchain-based platforms, doesn’t require compute-heavy proof-of-work.” Hashgraph is an interesting project due to its possible potential to scale, unlike many blockchain-based crypto assets which have seen substantial scaling issues thus far. According to ICODrops, Hashgraph concluded its ICO last August, fairing considerably well when taking into account 2018’s

a month ago

The Ethos Blockchain Education Course can now be found on In...

The Ethos Blockchain Education Course can now be found on Integro! @integro_io is using blockchain tech and analyti… https://t.co/Mt7vS0fb0Z

a month ago

The inside story of the Coinbase crypto OGs and Wall Street guard power struggle

For many crypto enthusiasts, mid-2018 feels like a lifetime ago. In those heady days, crypto’s market capitalization stood at $300 billion; rumors swirled that bulge bracket investment banks such as Goldman Sachs were entering the market; and Intercontinental Exchange excitedly announced plans for Bakkt, lauded to be the New York Stock Exchange of crypto. Since then, the market has effectively halved, Goldman’s exact plans for crypto remain unclear, and Bakkt’s launch date is up in the air. Things at Coinbase, once a retail exchange powerhouse, also look different. In 2018, the exchange had big ambitions to lure Wall Street’s savviest investors and fastest traders to its marketplace. But times have changed, and now the firm, which recently scored a $8 billion valuation, is returning to its roots, focusing on San Fran’s Market Street over Wall Street. That is to say, the firm is shifting its client focus away from the likes of Goldman Sachs and BlackRock to crypto-native funds like Pantera and Polychain. As a result, the firm is readjusting its 2018 goal to build out a full-scale Wall Street-grade prime broker, according to people familiar with the situation. And there’s one striking casualty. Jonathan Kellner, the Wall Street veteran who led brokerage giant Instinet, is no longer joining the firm, a Coinbase spokesperson confirmed. As first reported by The Block, Kellner was set to join Coinbase this year to lead institutional sales and support, becoming one of the most notable Wall Street hires in crypto. He was expected to leverage his experience on Wall Street to integrate Keystone, the brokerage Coinbase announced it was acquiring in June 2018, into the broader business. This would include building out the aforementioned prime broker unit, dubbed Coinbase Prime, and over-the-counter trading. Kellner did not respond to a request for comment. Dan Romero, who effectively took his spot in December to front Coinbase’s institutional business, said “Jonathan is an exceptional leader, but it was the right decision for us to focus on this area of the market,” referring to the firm’s pivot away from Wall Street. “Crypto is an incredibly fast-moving industry and market conditions can change pretty quickly. We are refocusing on the crypto fund area of the ecosystem,” he added. A spokesperson for Coinbase declined to comment on the specific terms of Kellner’s withdrawal. Previously, Romero was VP of Coinbase’s international business. How did we get here? To some market observers, Coinbase’s retreat from Kellner and Wall Street might come as a surprise. In May 2018, Adam White — who led Coinbase’s institutional business for the majority of 2018 — told Bloomberg how Coinbase was looking to capitalize on a “wave of institutional capital waiting on the sidelines.” But, White said, “before it moves into the space, we have to have the fundamental components, the infrastructure, institutions are used to.” Then, in September, White told CoinDesk the firm was actively hiring from Wall Street to “bridge the gap between financial services and technology.” “We need to pull from some of the best and brightest minds that have worked their whole careers in other kinds of traditional financial firms,” he said. As part of those efforts, the firm hired Christine Sandler from Barclays to serve as co-head of institutional sales, as well as Eric Scro from the New York Stock Exchange. He now serves as head of investors relations. Coinbase also brought on Oputa Ezediaro, an 11-year veteran of JPMorgan, to cover institutional sales. In recent months, however, White’s “doctrine” was met with opposition from senior management at Coinbase, according to a person familiar with the situation. According to someone with direct knowledge of Coinbase’s institutional business, at least some at the exchange thought it was futile to focus on Wall Street first given the bear market backdrop. That’s because white-shoe investing firms require more out of a prime broker than a crypto fund, including expensive handholding and a broader range of services, such as derivatives, hedging tools, and margin. Consider a hedge fund like Point72, as an example. Such a firm would likely have numerous points of contact, including the person responsible for moving funds, executing trades, etc., with which Coinbase would have to engage, whereas a firm like Polychain would have one point of access, or one person, working across those verticals. Crypto hedge funds know how to navigate this market without the same complex requirements as Wall Street, said Richard Johnson, an analyst at capital markets consultancy Greenwich Associates. “For a person like Jonathan Kellner, it would be a lot of work to look for that needle in the haystack firm which is willing to start investing in crypto at this stage,” Johnson, who was not surprised by the news, said. “The activity of the last six-months has seen a bit of a setback. People are continuing to invest but I think focus

a month ago

The Ethos Dev Dashboard has been updated - on the upcoming h...

The Ethos Dev Dashboard has been updated - on the upcoming horizon of our launch of Universal Wallet Update 1.6. Ch… https://t.co/tbiDxTbDxf

a month ago

The inside story of the Coinbase crypto OG and Wall Street guard power struggle

For many crypto enthusiasts, mid-2018 feels like a lifetime ago. In those heady days, crypto’s market capitalization stood at $300 billion; rumors swirled that bulge bracket investment banks such as Goldman Sachs were entering the market; and Intercontinental Exchange excitedly announced plans for Bakkt, lauded to be the New York Stock Exchange of crypto. Since then, the market has effectively halved, Goldman’s exact plans for crypto remain unclear, and Bakkt’s launch date is up in the air. Things at Coinbase, once a retail exchange powerhouse, also look different. In 2018, the exchange had big ambitions to lure Wall Street’s savviest investors and fastest traders to its marketplace. But times have changed, and now the firm, which recently scored a $8 billion valuation, is returning to its roots; focusing on San Fran’s Market Street over Wall Street. That is to say, the firm is shifting its client focus away from the likes of Goldman Sachs and BlackRock to crypto-native funds like Pantera and Polychain. As a result, the firm is readjusting its 2018 goal to build out a full-scale Wall Street-grade prime broker, according to people familiar with the situation. And there’s one striking casualty. Jonathan Kellner, the Wall Street veteran who led brokerage giant Instinet, is no longer joining the firm, a Coinbase spokesperson confirmed. As first reported by The Block, Kellner was set to join Coinbase this year to lead institutional sales and support, becoming one of the most notable Wall Street hires in crypto. He was expected to leverage his experience on Wall Street to integrate Keystone, the brokerage Coinbase announced it was acquiring in June 2018, into the broader business. This would include building out the aforementioned prime broker unit, dubbed Coinbase Prime, and over-the-counter trading. Kellner did not respond to a request for comment. Dan Romero, who effectively took his spot in December to front Coinbase’s institutional business, said “Jonathan is an exceptional leader, but it was the right decision for us to focus on this area of the market,” referring to the firm’s pivot away from Wall Street. “Crypto is an incredibly fast-moving industry and market conditions can change pretty quickly. We are refocusing on the crypto fund area of the ecosystem,” he added. A spokesperson for Coinbase declined to comment on the specific terms of Kellner’s withdrawal. Previously, Romero was VP of Coinbase’s international business. How did we get here? To some market observers, Coinbase’s retreat from Kellner and Wall Street might come as a surprise. In May 2018, Adam White — who led Coinbase’s institutional business for the majority of 2018 — told Bloomberg how Coinbase was looking to capitalize on a “wave of institutional capital waiting on the sidelines.” But, White said, “before it moves into the space, we have to have the fundamental components, the infrastructure, institutions are used to.” Then, in September, White told CoinDesk the firm was actively hiring from Wall Street to “bridge the gap between financial services and technology.” “We need to pull from some of the best and brightest minds that have worked their whole careers in other kinds of traditional financial firms,” he said. As part of those efforts, the firm hired Christine Sandler from Barclays to serve as co-head of institutional sales, as well as Eric Scro from the New York Stock Exchange. He now serves as head of investors relations. Coinbase also brought on Oputa Ezediaro, an 11-year veteran of JPMorgan, to cover institutional sales. In recent months, however, White’s “doctrine” was met with opposition from senior management at Coinbase, according to a person familiar with the situation. That’s because white-shoe investing firms require more out of a prime broker than a crypto fund, including expensive handholding and a broader range of services, such as derivatives, hedging tools, and margin. Consider a hedge fund like Point72, as an example. Such a firm would likely have numerous points of contact, including the person responsible for moving funds, executing trades, etc., with which Coinbase would have to engage, whereas a firm like Polychain would have one point of access, or one person, working across those verticals. Crypto hedge funds know how to navigate this market without the same complex requirements as Wall Street, said Richard Johnson, an analyst at capital markets consultancy Greenwich Associates. “For a person like Jonathan Kellner, it would be a lot of work to look for that needle in the haystack firm which is willing to start investing in crypto at this stage,” Johnson, who was not surprised by the news, said. “The activity of the last six-months has seen a bit of a setback. People are continuing to investing but I think focusing on the crypto side for them makes sense.” “Nearly 20% of the all hedge funds launched in 2018 were crypto-first,” Romero said. “When we think about where crypto is today, these funds are c

a month ago

Let's rock the vote! Vote for the ETHOS token to get listed ...

Let's rock the vote! Vote for the ETHOS token to get listed on EtherShift - @ethershiftco. It only takes 2 seconds:… https://t.co/2q7CaCDmFM

a month ago

MimbleWimble: History, Technology, and the Mining Industry

A historical overview of MimbleWimble, Grin, & BEAM MimbleWimble, a blockchain protocol focused on fungibility, privacy, and scalability, was released in the wild in July 2016 on IRC channel #bitcoin-wizards by pseudonymous Tom Elvis Jedusor. The paper proposed a novel way of combining transactions to improve the privacy features in a public blockchain. Jedusor’s paper was built on the work of another anonymously posted paper from 2013 using one-way aggregate signatures (OWAS), which required a novel cryptographic primitive, pairing crypto, which wasn’t well trusted in academia. It also drew inspiration from Confidential Transactions and CoinJoin, two privacy proposals by Bitcoin Core developer Gregory Maxwell. The original MimbleWimble paper used the same elliptic curve cryptography Bitcoin uses, catching the attention of many Bitcoin researchers including Andrew Poelstra, a mathematician and applied cryptographer at Blockstream, who further improved on the MimbleWimble white paper, releasing a “precise” version in October 2016. Poelstra’s work has long been focused on privacy, having worked on Confidential Transactions and scriptless scripts in Bitcoin. Originally, it was envisioned that MimbleWimble could either be integrated as an upgrade to Bitcoin or exist as a sidechain, but Pieter Wuille, co-founder of Blockstream and a Bitcoin Core developer, clarified some of the challenges to integrating it as a backwards-compatible change on a 2016 podcast: “Introducing mimblewimble into bitcoin in a backwards-compatible way would be a difficult exercise. It may not be impossible, but it would be hard. I think the way if people were experimenting with this, I would expect it to be an experimental separate chain or sidechain. In a sidechain we would not introduce a new cryptocurrency but it would be a separate chain. There are some downsides to mimblewimble. In particular, it does not have a scripting language...a scripting language is very neat to play with, but it has a privacy downside. Mimblewimble takes this to the other side where you have very good privacy but at the expense of no other features any more.” The trade-off made by MimbleWimble excludes an expressive scripting language, which allows for innovations such as payment channels (e.g., the Lightning Network) and cross-chain atomic swaps, both of which launched in Bitcoin in 2017. Since then, two separate implementations of the MimbleWimble protocol have emerged, both with different considerations around community, ethos, funding, and technical details. The first implementation, Grin, which has become synonymous with MimbleWimble, was released just a few days after Poelsta’s position paper. Pseudonymous Ignotus Peverell, the original owner of Harry’s invisibility cloak, created the Github project ignopeverell/grin, where he provided a partial implementation of the protocol written in Rust, in addition to posting his vision for the project’s ethos. In March 2017, Peverell posted a technical introduction to Grin and MimbleWimble (as the name is now stylized), which serves as the principle reference to the protocol’s specification today. To date, the project is still maintained by a group of mostly anonymous developers, several of whom have taken on Harry Potter pseudonyms in line with the original ethos of the project (including Luna Lovegood, Seamus Finnigan, and Percy Weasley). The first Grin testnet was launched in November 2017 and the project is currently on testnet 4, which is believed to be the last before the project’s mainnet launch. The second implementation, BEAM, is a project started in March 2018 and was formally announced on the one year anniversary of the original Mimblewimble paper release. BEAM was presented in a separate white paper (along with a fully functional mining node and wallet client) and took on a more formal structure similar to Zcash, in stark contrast to Grin’s anarchic, open-source ethos. The BEAM team is led by CEO Alexander Zaidelson, an Israeli entrepreneur. With a defined management/engineering team, pre-sale, a formal foundation, and founder’s tax, BEAM took a very different approach to present a competitive alternative to Grin in the market. In addition to creating the formal structure around the project, the BEAM team made different technical choices to Grin, including decisions related to the monetary policy and hashing algorithm (which are explored below). BEAM launched in early January 2019 with a significant lead on hash-rate. Understanding Bitcoin’s UTXO model and cryptographic primitives Note: This, by no means serves as a comprehensive introduction to Bitcoin or cryptography, but provides enough context such that the uninformed reader should be able to follow along. From the earliest days, privacy and fungibility have been core concerns of Bitcoin users. Through complex network analysis and blockchain analysis, Bitcoin has seen many attempts to de-anonymize transactions. While cryptocurrencies have emerge

a month ago

Ethereum Classic [ETC]: A deep-dive into 51% attack leading to the loss of $1.1 million worth ETCs

Opinion Cryptocurrencies - money of the future. Bitcoin and cryptocurrencies promised a lot of things and along with those promises came the problems that we would never have faced if we stuck to the fiat system. But then again the world isn’t all black and white. As promising and strong cryptocurrencies sound, they aren’t almighty and invulnerable, they do have drawbacks like the one that has taken Ethereum Classic [ETC] down temporarily. Satoshi Nakamoto envisioned how Bitcoin network, which makes use of Proof-of-Work [PoW], could be attacked in his whitepaper. Nakamoto stated: “If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins.” Assembling of CPU power came to be known as a “51% attack”, i.e., if a person/organization amassed more than 50% of the total hash power that is being used to mine a particular coin, then that coin could be controlled by the said person. The person could go back and change the history in the blocks, rewrite transactions, generate more coins, add more blocks to it. This attack is the major drawback of PoW and sometimes referred to as “security risk” or “attack vector”. Ethereum Classic [ETC], a fork of Ethereum which took place in July 2016, has been the victim of the aforementioned and its blockchain has been “reorged”. Reorged is a short-form of “chain reorganization” in which a person with enough hash power takes control of the blockchain and goes back to the block of his liking and extends an alternative block history as per his liking. The 51% attack was reported by Coinbase on January 7, 2019, but a few people on Twitter had already whiffed out the 51% attack rumors. Pierre Rochard, a well-known Bitcoin enthusiast, asked ETC developer Donal McIntyre on Twitter: “Was there a deep reorg on Ethereum Classic yesterday?... 75 blocks deep I hear, with a doublespend” Donal McIntyre replied: “Well ETC is still small and has many enemies so an attack with sufficient GPU power may be plausible, but I will check with others in the ecosystem.” The devs realized that there was an attack and as per the blog by Coinbase, a total of 219,500 ETC worth a whopping $1.1 million was double spent. Why ETC? 51% attacks are not very uncommon; they keep happening from time to time on smaller blockchains that are still nascent and are under development. The reasons that could summarize why ETC faced this 51% attack could be: ETC uses the same mining algorithm as Ethereum, and as compared to ETH, ETC has only a fraction of its mining power i.e., hash rate. So, a temporary shift in the hashing power from ETH to ETC could easily allow someone to launch a 51% attack. With the developments happening in the cryptocurrency world and it reaching mainstream attention/adoption, mining has also become institutionalized and a majority of the hashing power for most top-10 coins is derived from mining pools. ETC, as per Crypto51.app, had a total of 112% of hash rate coming from one such pool, “Nicehash”. The ETC network is still small. All PoW based assets are susceptible to 51% attacks. As per Crypto51.app, the total network hash rate for ETC was at a mere 8TH/s as compared to that of Bitcoin [BTC] 42,336 PH/s or Ethereum’s 171 TH/s. Moreover, the cost of launching a 51% attack for ETC would only cost ~$4,404 per hour. Future of ETC Charlie Lee suggested a possible workaround for this problem that ETC is facing in a tweet. He said: “Be careful w/coins that are not dominant in their respective mining algorithm, especially ones that are NiceHash-able. ETC has less than 5% of the total Ethash hashrate and is 98% NiceHash-able. 1-hr attack costs $5k. Almost $500k has been double spent” ETC dev, Donald McIntyre in his blog stated: “I think that continuing to build the stack as planned (a secure PoW base layer, with layer 2 sidechains, plus developer tools, continuous efficiency gains and adding of new features in the long term) will get ETC closer to the long term vision of a blockchain perfectly suitable for secure decentralized computing.” Furthermore, he added: “With the above in mind I think the best path is to explore a mining algorithm change to put ETC in a unique, incompatible PoW niche. Even if that implies a tradeoff as miners will have less optionality to point their infrastructure to different chains depending on the profitability of the day.” Conspiracies Everywhere: A Twitter user @_itsanhonour tweeted suggesting that the ETC’s 51% attack was some sort of a conspiracy theory as OKEx exchange is the largest source of volume ETC. Peter Todd, a well-known person in the crypto-community, tweeted: To the above tweet, a user @Cryptojack2 suggested that Vitalik Buterin, the creator of Ethereum organized the attack. He commented: “yep, makes perf sense- not because it is the true defin of SHITCOIN- no devs,hugely inflated MC,no real usage(besides being

a month ago

We are excited to share that @Raisex4 has listed the ETHOS ...

We are excited to share that @Raisex4 has listed the ETHOS token with a BTC pair on their exchange. Further expand… https://t.co/yodlH0eu57

a month ago

Binance Continues Expanding With New Token Sales on ‘Launchpad’

Crypto exchange Binance has shown no sign of slowing down during the year-long bear market as it continues to innovate and nurture projects to foster the embryonic industry. Its latest offering is called Launchpad which has been described as a token launch platform which helps blockchain projects raise funds and increase their reach in the crypto ecosystem. The initiative will be surmising one new token launch each month during 2019 according to the official blog post. Projects that meet the criteria will be introduced to Binance’s huge user base which it estimates is over ten million; “We do this by offering a project’s tokens to up to more than 10 million Binance users. With this platform, we grant our users the chance to be part of potentially game-changing projects.” However, there is a long list of countries, 29 in total including the US, that are not permitted to participate in token sales on the Launchpad platform. The ethos is to focus on projects that have two primary aims; further development and increasing adoption. Binance already supports 21 projects via its investment division, Binance Labs. Two New Projects to be Launched One of the first tokens to be launched from the ‘pad’ will be BitTorrent, the Tron affiliated P2P blockchain file sharing network. It’s new BTT token will be used to incentivize content creators and activities that lead to better file sharing such as extending seeding periods. According to the post BitTorrent has 100 million monthly active users spread across 138 countries. Using the Tron network it aims to serve them and expand making it potentially the largest in the world. TRX is currently enjoying the news with a 9% gain on the day at the time of writing. The second token project to make it to the Binance Launchpad is Fetch.AI, a decentralized artificial intelligence driven blockchain network. Autonomous Economic Agents (AEAs) will be employed to transact without human intervention and represent themselves, devices, services, or individuals according to the post. It is currently very experimental but use cases for hospitality, transport, energy and supply chain sectors are expected. For a project to be accepted by Binance it needs to adhere to a strict set of standards which include; “A relatively mature-stage project development, readiness for large-scale adoption, a strong and committed team, and the potential to benefit the growth and development of the wider crypto ecosystem.” The initiative appears to be cherry picking ICOs and giving them an initial boost on the exchange. This may help to weed out those scammy projects that gave the ICO industry such a bad name over the past year. Binance is positioning itself to become the arbiter of all things crypto and for those few successful projects that get accepted it will be the Launchpad that they need. Image from Shutterstock The post Binance Continues Expanding With New Token Sales on ‘Launchpad’ appeared first on NewsBTC.

a month ago

Ethos (ETHOS) Gets Listed on Changelly

The team behind the Ethos multi-crypto wallet recently posted the following news on Twitter: “Hello @Changelly_team! It's official, the ETHOS Token has been listed on Changelly. You can now swap over 100+ tokens for the ETHOS Token! Thank you for the holiday surprise, as we continue to expand the Ethos Ecosystem. The future is for everyone.” The ETHOS token is currently trading at $0.117, a decrease of 7.22% on the 24-hour chart as the crypto market has experienced another downturn during the past couple of hours. (JF)

2 months ago

Ethos Bedrock is a high-performance Blockchain Financial Ser...

Ethos Bedrock is a high-performance Blockchain Financial Services (BFS) platform. Bedrock’s powerful abstraction la… https://t.co/bVZIx0q4hQ

2 months ago

Hello @Changelly_team! It's official, the ETHOS Token has be...

Hello @Changelly_team! It's official, the ETHOS Token has been listed on Changelly. You can now swap over 100+ toke… https://t.co/j9RydVEkbB

2 months ago

Wishing everyone a wonderful Happy Holidays from the Ethos F...

Wishing everyone a wonderful Happy Holidays from the Ethos Family! Enjoy your time celebrating the most important t… https://t.co/9OJkByG0I2

2 months ago

Facebook May Launch a Stablecoin to Target India’s $69 Billion Remittance Market

Cryptocurrency’s first killer application may be well on its way from the rosters of Facebook, a company ironically known for practices contrary to the ethos of decentralized currencies and blockchains, reported South China Morning Post on December 21, 2018. Facebook’s Crypto Deal The San Francisco-headquartered social media giant is leveraging India’s mammoth $69 billion remittance market, which...

2 months ago

Civic’s token illustrates why companies masquerading as tokens will fail

Civic, the identity system founded by self-proclaimed “Bitcoin Oracle” Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches presented. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN”, without any explicit goals to incorporate a token or blockchain at the time. The company raised ~$33m in funds through an ICO that looked like the world’s most bizarre nightclub line: in it, tens of thousands of participants were placed in a queue and randomly allowed access to purchase CVC tokens priced at $0.10 each, regardless of when they joined. Of the one billion tokens, 33% were sold in the ICO, with another 33% retained by the Civic team, 33% to incentivize the community, with 1% left over for running the sale. I imagine that the conversation between Vinny and his engineering team went something like this: Vinny: Team, we need to put this on The Blockchain. Team: Err, come again? We can just store this stuff locally or some distributed system that doesn’t need a chain of blocks. Vinny: Sounds good, let’s use Blockchain and raise an ICO. Team: Wait, what? The token question was always a bit of a mess. The Bitcoin Oracle stated over and over again in 2017 that the CVC token, initially issued on Ethereum, was a temporary decision until the launch of Rootstock, a smart contract platform implemented as a Bitcoin sidechain. The question of why Civic, a centralized company that had an existing mobile identity product, needs a token is an excellent question and answered at first in an 18-page whitepaper, which spends more time explaining 50,000 views of the digital identity industry and how blockchains work than covering the specific utility of the CVC token. Diagram from the original Civic white paper explaining how the system works In this case, as seen in the diagram, the original CVC token vision was to create utility through its use as an “ecosystem token.” In the Civic ecosystem, the places where circles are examples of places where the CVC token is “used as a form of settlement between participants to an identity-related transaction within the Ecosystem.” If you’re not trying to deceive unsophisticated retail investors, another way to think about it is just that the token is used for payment. Even if their platform is useful, the question every ICO team should be asking is still outstanding: why use a proprietary token for payment when a fiat-backed token (more stable), bitcoins (decentralized money token), or just dollars (simple) suffice? The white paper presented 4 extremely compelling reasons: It can be used across any number of jurisdictions, retaining a single uniform method of settlement. nods head, thinking “Bitcoin can do the same thing.” Using a blockchain-based token makes it possible to perform settlements automatically and irrefutably within a smart contract nods head, thinking “Bitcoin, Ethereum, and a number of other existing public blockchains allow for this too.” Having a unique, specialized token for accessing identity services provides stability and shields the Ecosystem from extraneous considerations that can make other cryptocurrencies volatile Oh man, this is just great. Forgetting that all unpegged cryptocurrencies are money (some more liquid than others, like gift cards), it’s unclear why this is even intuitive (or went unquestioned by so many). Fortunately, we can see empirical confirmation that Civic’s team aren’t token engineering alchemists who’ve figured out the holy grail of price stability: Civic is down 96% from its all-time high, now trading at half its’ ICO price. Chart courtesy of OnChainFX It makes it possible to manage incentives in a way that drives Ecosystem effects for the benefit of all participants in the Ecosystem This is the most substantive bullet. Civic, like many others, believes that the token allows them to “manage incentives” to solve the bootstrapping problem early-stage startups often face. However, in practice, “managing incentives” looks a lot more like “give away tokens to try to bribe people into building stuff with our technology.” Let’s call this the Token Engineering Reality Distortion Field (or TERDF for short). Another generous reading of why Civic kept so many of the generated tokens is that they can use the value of those tokens to subsidize the cost of KYC verification, which then makes the service more appealing to prospective partners (given the increased number of users on the platform). For those who think I’m kidding, in a September interview, Vinny implied that why the giveaway-based growth model that nearly bankrupted PayPal could work: Paypal got it right with the whole $10 free if you invite a friend and it nearly bankrupted the company. They managed to crack the chicken and egg problem doing it that way. In an earlier blog post titled “Why Tokens are Eating the World” (a play on Mar

2 months ago

Civic’s token illustrates why companies masquerading tokens will fail

Civic, the identity system founded by self-proclaimed “Bitcoin Oracle” Vinny Lingham in 2015, is a notable example that serves as a strong case against many of the flawed token-based approaches presented. Vinny, a bitcoin advocate dating back to his previous gift card company Gyft, raised a 2016 seed from blockchain investors to “secure SSN”, without any explicit goals to incorporate a token or blockchain at the time. The company raised ~$33m in funds through an ICO that looked like the world’s most bizarre nightclub line: in it, tens of thousands of participants were placed in a queue and randomly allowed access to purchase CVC tokens priced at $0.10 each, regardless of when they joined. Of the one billion tokens, 33% were sold in the ICO, with another 33% retained by the Civic team, 33% to incentivize the community, with 1% left over for running the sale. I imagine that the conversation between Vinny and his engineering team went something like this: Vinny: Team, we need to put this on The Blockchain. Team: Err, come again? We can just store this stuff locally or some distributed system that doesn’t need a chain of blocks. Vinny: Sounds good, let’s use Blockchain and raise an ICO. Team: Wait, what? The token question was always a bit of a mess. The Bitcoin Oracle stated over and over again in 2017 that the CVC token, initially issued on Ethereum, was a temporary decision until the launch of Rootstock, a smart contract platform implemented as a Bitcoin sidechain. The question of why Civic, a centralized company that had an existing mobile identity product, needs a token is an excellent question and answered at first in an 18-page whitepaper, which spends more time explaining 50,000 views of the digital identity industry and how blockchains work than covering the specific utility of the CVC token. Diagram from the original Civic white paper explaining how the system works In this case, as seen in the diagram, the original CVC token vision was to create utility through its use as an “ecosystem token.” In the Civic ecosystem, the places where circles are examples of places where the CVC token is “used as a form of settlement between participants to an identity-related transaction within the Ecosystem.” If you’re not trying to deceive unsophisticated retail investors, another way to think about it is just that the token is used for payment. Even if their platform is useful, the question every ICO team should be asking is still outstanding: why use a proprietary token for payment when a fiat-backed token (more stable), bitcoins (decentralized money token), or just dollars (simple) suffice? The white paper presented 4 extremely compelling reasons: It can be used across any number of jurisdictions, retaining a single uniform method of settlement. nods head, thinking “Bitcoin can do the same thing.” Using a blockchain-based token makes it possible to perform settlements automatically and irrefutably within a smart contract nods head, thinking “Bitcoin, Ethereum, and a number of other existing public blockchains allow for this too.” Having a unique, specialized token for accessing identity services provides stability and shields the Ecosystem from extraneous considerations that can make other cryptocurrencies volatile Oh man, this is just great. Forgetting that all unpegged cryptocurrencies are money (some more liquid than others, like gift cards), it’s unclear why this is even intuitive (or went unquestioned by so many). Fortunately, we can see empirical confirmation that Civic’s team aren’t token engineering alchemists who’ve figured out the holy grail of price stability: Civic is down 96% from its all-time high, now trading at half its’ ICO price. Chart courtesy of OnChainFX It makes it possible to manage incentives in a way that drives Ecosystem effects for the benefit of all participants in the Ecosystem This is the most substantive bullet. Civic, like many others, believes that the token allows them to “manage incentives” to solve the bootstrapping problem early-stage startups often face. However, in practice, “managing incentives” looks a lot more like “give away tokens to try to bribe people into building stuff with our technology.” Let’s call this the Token Engineering Reality Distortion Field (or TERDF for short). Another generous reading of why Civic kept so many of the generated tokens is that they can use the value of those tokens to subsidize the cost of KYC verification, which then makes the service more appealing to prospective partners (given the increased number of users on the platform). For those who think I’m kidding, in a September interview, Vinny implied that why the giveaway-based growth model that nearly bankrupted PayPal could work: Paypal got it right with the whole $10 free if you invite a friend and it nearly bankrupted the company. They managed to crack the chicken and egg problem doing it that way. In an earlier blog post titled “Why Tokens are Eating the World” (a play on Mar

2 months ago

It's official! The ETHOS token has been listed on Nitrogen N...

It's official! The ETHOS token has been listed on Nitrogen Network! A new decentralized peer-to-peer crypto lending… https://t.co/NhtaKlKpUb

2 months ago

How cryptocurrency will reshape our economic, environmental and social orders

In this series we look past 2020 to what the future holds for crypto beyond fiat-pegged stable coins and speculative prices to the original ethos of crypto and the cypherpunk movement - to redesign our economic, social, political and environmental structures . We also explore why we need to decouple the dual role of store of value from medium of exchange from common currency in the future and...

2 months ago

Hello, BitUniverse! We’re thrilled to announce that Ethos ...

Hello, BitUniverse! We’re thrilled to announce that Ethos is now live on BitUniverse Link! Get all the latest… https://t.co/YiCCI1tt0y

2 months ago

Ethos CEO, @shingolavine, reflects on the promise of blockch...

Ethos CEO, @shingolavine, reflects on the promise of blockchain technology, the questions it faces and the progress… https://t.co/IlKZnLNf3p

2 months ago

Binance Incubator Program to Foster Innovation For Blockchain and Crypto

The bear market this year has seen an exodus from cryptocurrencies for a lot of people and companies. Not all are so pessimistic though and not all are in it for a quick buck. Binance is one of the pioneers of the industry and has recently launched a program to foster innovation for blockchain and crypto. Binance Not Deterred by Bear Market The first batch of initiatives for the Binance incubation program will focus on solving the most critical issues currently facing the industry. There are a number of projects aimed at nurturing education and mentorship in the crypto space run through the exchange’s venture arm Binance Labs. According to the head of Binance Labs, Ella Zhang, who spoke to Forbes last week explaining the ethos behind the ten week on-site program; “Through the program, we support entrepreneurs who are solving critical problems for the blockchain industry. In particular, we help participants focus on “BUIDLing” products from an early stage. The term BUIDL is a glossary term from the Binance Academy, originally derived from HODL, a term referring to keeping your heads down and focusing on building your product,” Over 500 projects applied for the first round of the incubation program and only the top 8 were selected. Those lucky few will get direct funding of $500,000 and full access to the all resources they need from Binance. According to the report, seven of the eight projects had launched working products and enrolled new members. Three of them already have paying clients and their recent ‘graduation’ from the program will put them on the path to greater things. Binance also offered the opportunity for these projects to pitch at the Singapore Blockchain Week organized by the company next month. Some of the problems tackled included hardware wallet development, secure logins for dApps, prediction markets, blockchain data insights, computer security systems, and decentralized exchanges. “There are two problems we have seen in the ecosystem, which helped inform our design of the program: a lack of product-market fit in many blockchain projects, and the market hype that distracts founders from BUIDLing. With the incubation program, projects can focus on shipping a working product or service with product-market fit as quickly as possible,” Zhang added. Binance has taken the initiative to focus on developing the technology for the future rather than looking at the prices. Its own trade volume is massively down from over $2 billion per day to around $300 million today according to Coinmarketcap. This has not deterred the team though which has not only expanded internationally over the past year but is now channeling energies into education and innovation for the nascent industry. Image from Shutterstock The post Binance Incubator Program to Foster Innovation For Blockchain and Crypto appeared first on NewsBTC.

2 months ago

Interview: Alex Mashinsky on the Celsius Network, Bitcoin, Ethereum, and the blockchain’s killer app

It has been a phenomenal year for VoIP pioneer and Celsius Network mastermind Alex Mashinsky: he’s successfully launched a blockchain project which has a clear plan, is compliant, and has a well-defined use case, he’s participated some of the most important debates in the industry, and he has grown his business and influence even in the middle of a destructive bear market. Under these considerations, it made a lot of sense to invite the Ukrainian entrepreneur to a discussion about the most important developments and phenomena in the ever-bourgeoning blockchain industry. During this exclusive Crypto Insider interview, he spoke about some of the most notable events he’s witnessed in 2018, as well as his vision for Celsius. Attached you will find the first part of the interview in both video and written form. The second part contains a more in-depth analysis of the Celsius Network app, with practical examples given during a process where Vlad deposits some coins into the ecosystem. Full transcript: Vlad Costea: Hello and welcome to another Crypto Insider interview! I am Vlad and today I’m speaking with Alex Mashinsky, who is the creator of the Celsius Network as well as an innovator in the field of TCP/IP. Hello, Mr. Mashinsky! Alex Mashinsky: Hi, Vlad. Thanks for having us. Vlad Costea: So it’s VOIP not TCP/IP, right? Alex Mashinsky: It’s VOIP, but it uses TCP/IP so yes, it’s part of the protocol. Vlad Costea: Okay. So... I have so many questions to ask you right now, I’m not sure what I should begin with. But let’s talk about the way I found out about you and your activity. And it was during the Milken Institute debate, which I found fascinating. You debated a representative of the US reserve. I think his name was Macintosh. Alex Mashinsky: Yes, there were um... there was the founder of Abra which is a wallet company. Yeah, and Nouriel Roubini and we had a representative from the Federal Reserve. [1:16] Vlad Costea: Okay, so I noticed during the debate that you’re basically the first crypto socialist I ever discovered. You talk about the policy - you talk about all these issues with the world wealth and you talk about where this redistribution trick through crypto currencies and that to me was an eye opener. Alex Mashinsky: Well, so I was born in the Ukraine - so, born in communism. Grew up in socialism in Israel. Spent 30 years in the United states. I tried all three systems, you know economic systems that we have. And each one of them has its own set of problems. Obviously, communism does not work for most people, but the system has tried to create equality for everybody. Socialism is basically saying we have to have a safety net for everybody, right? So we’re going to catch anyone who is falling through the system - you know, has medical problems or anything like that. And capitalism is a system that’s very good for the 1% but not so good for the 99%. So really, humanity is struggling to come up with an inclusive system that could be acting in the best interest of the 7 1/2 billion people that are living on this planet. And I view the blockchain powered by crypto currencies as the 4th system. So it’s not that I’m a crypto socialist, it’s more that I think we can take the best ideas from the other 3 systems and create something that is for the people by the people vs people like me that got to immigrate to the US and do several start ups and be successful get to enjoy all the benefits, but most people on the planet don’t have access to these opportunities. [3:20] Vlad Costea: Do you find any ideological common ground with Nick Szabo who talks about social scalability? Alex Mashinsky: Nick is a good friend. He’s based here in New York, as well. I think he is a purist - meaning he believes that Bitcoin is the solution for everything. And, my views - I agree with him at the high level on the ideas but I think that the killer app or the blockchain that is going to enable everything that I just talked about has not yet been invented. Vlad Costea: Oh, ok. But it was much more about the idea that there are nearly 8 billion people living on this planet and the resources are very limited. He believes that blockchain and Bitcoin are going to enable a fairer and smarter distribution of resources. Alex Mashinsky: Well, fairer and smarter distribution is definitely the right thing. That, I would not say that we have limited resources. Just to give an idea we, in the US, we throw away a 1/3 of all the food we produce every year. Just throw it away because of expiration date because it wasn’t consumed on time, or because it was not eaten completely or whatever. The modern waste that the West generates, especially the US, is just colossal. We can feed the entire planet with just the waste the US is produces. [5:04] Vlad Costea: I’ve watched you debate Nouriel Roubini, who is maybe the most vocal critic of cryptocurrencies and I’ve seen you take on him during the Milken Institute debate and later during the Blockchain

2 months ago

Timothy C. May: A Tribute

Every field has its pioneers and heroes, and every culture or scientific branch in the world can be associated with the brilliance of an individual or a group. In the case of the cypherpunk movement, it’s Timothy C. May (colloquially referred to as Tim) who shines as bright as the community’s ideals themselves. For the mass of blockchain and cryptocurrency enthusiasts, Mr. May is a rather unknown who documented the cypherpunk movement in the early 1990s (“The Cyphernomicon” is still on of the most cited and influential works in the field). But to people like Nick Szabo, Wei Dai, Adam Back, Hal Finney, and John Perry Barlow, he was a living idol who promoted an ideology that can be put into practice through cryptography. Just like Sir Isaac Newton, Copernicus, and Galileo had the writings of Aristotle to provide inspiration and give them the required theoretical foundation to undergo scientific experiments, the cryptocurrency world had Timothy C. May to push for a truly anarchistic world where privacy and self-organization are the absolutely unquestionable norms. It’s safe to say that without the intellectual output of Mr. May we wouldn’t have Bitcoin today. All the works that preceded Satoshi’s blockchain project, from B-money to Bitgold, have drawn a clear ideological influence from the writings of Timothy C. May. Anyone reading “The Crypto Anarchist Manifesto” today can notice two essential elements: it’s still as contemporary as ever, and the current cryptocurrency projects may not be the fruition of the envisioned “barbed wire fences” loss. And even outside Bitcoin, we can see a clear influence in some key figures - in 2007, Nick Szabo has published a blog post in which he encouraged aspiring political activists who want to make a difference to make their own law by writing and using “cryptography, smart contracts, bit gold, digital cash, and other security protocols made possible by computer science.” The more Bitcoin moves towards institutional adoption, with mandatory KYC/AML procedures and centralized exchanges that can lock funds and block transactions, the farther we get from the ideals outlined in “The Crypto Anarchist Manifesto” and “The Cyphernomicon”. Ultimately, the legacy that Timothy C. May has left to us is a constant desire to attain absolute privacy. If John Perry Barlow has inspired an entire generation of cyber libertarians to demand their rights from governments (mostly through his famous piece, “A Declaration of the Independence of Cyberspace”), then Mr. May has given freedom lovers all around the world the motivation to write chain-liberating code which creates cryptographic shields. He was the Diderot of cypherpunks, a true man of letters and innovator who took precious time to document the works of his contemporaries and put together a massive dedicated encyclopaedia. The next time we cheer and applaud as big financial institutions announce cryptocurrency investment funds, we should think twice. A couple of months before his passing, the cypherpunk was interviewed by Coindesk and he talked about the state of Bitcoin 10 years after the release of the whitepaper. In relation to the status-quo, he said that we definitely don’t need another PayPal or an alternative way to make bank transfers. Bitcoin shouldn’t turn into a surveillance apparatus which is friendly to KYC/AML practices, regardless of what big institutions want. The cypherpunk ethos demands for privacy, and cryptocurrencies should aspire to reach it to a greater extent (maybe that further developments like Schnorr signatures, confidential transactions, and even the Lightning Network will take us into a greater era of both privacy and fungibility). To Mr. May, privacy must be absolute and unquestionable. His philosophy in regards to human nature was always positive, as he believed that outlaws and criminal activities are the exception of the rule (not the norm, as Orwellian governments want us to think). And ultimately, regardless the part of the world where we find ourselves, the extent to which we understand coding and cryptography, and our ideological affinities, it’s important to remember the work of a man who wanted nothing less than absolute freedom and privacy. In a sense, it’s tragic that 2018 has taken away from us both John Perry Barlow and Timothy C. May. But in the grand scheme of things, this is a great opportunity for us to rediscover their writings, understand their viewpoints, and find ways to achieve these ideals through the technologies that we have (or at least support those who attempt to, for the greater good of our society). Let’s celebrate their efforts by lobbying our governments, educating ourselves and others about the importance of freedom and privacy, and writing world-changing code that will take us into a whole new era where reputation and trust replace mass surveillance. The post Timothy C. May: A Tribute appeared first on Crypto Insider.

2 months ago


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