265 Matching Annotations
  1. Dec 2017
    1. Point is, if Dexaran is actually the DAO attacker (quite likely) then he has no incentive to support ETC long-term. If his plan is to develop a decentralized exchange, and also anonymity protocols on ETC – perfect for being able to liquidate the currently “tainted” ETC in the DAO attacker's address, perhaps? If that is the case then the so-called “Ethereum Commonwealth” is only here until the coins can be dumped on the market.

      Interesting point. Dumping the price has an opportunity cost. Could potentially make more money not dumping

    2. This post where he explains that his reason for developing on ETC is because he is concerned the chain will fade into obsolescence.

      I see ethereum fading into obsolescence as well. Does not mean it does not have short term utility.

    3. The problem is that it has become apparent to me that Ethereum Classic is not, in fact, a responsible, long-term-oriented Ethereum – it is a crippled, sad wannabe Ethereum. It's a sour grapes version of Ethereum – and all the ideology is mainly just a show.

      Neglects to realize that ETC can easily fork in proven features of ethereum.

    4. Ethereum Classic's value proposition was that it was Ethereum, but (a) truly decentralized – not controlled by the Ethereum Foundation, and (b) minus the “move fast and break things” modus operandi.

      Thats not really its value proposition. All of these platforms will be centralized because of pareto principal.

    1. EOS DPOS does optimistic pipelining that allows the blockchain to advance in “pending state” while the signatures are gathered.

      "optimistic pipelining" is a curious euphemism

    2. In order to reduce the frequency of producer set changes we have changed block scheduling to only include the top 21 producers. We are considering offering some kind of stand-by pay for the runner ups, but they will not actually be tasked with producing blocks.

      system is designed to have as few producer changes as possible. if there is a change it will force light clients to process more blockheaders

    3. We will be experimenting with different hand-off periods

      seems very experimental

    4. On our eos-noon branch we have implemented a number of changes to the underlying DPOS framework to support 500 ms blocks (2 blocks every second). This change will dramatically increase the responsiveness of decentralized applications.

      game changer

    5. In past updates we indicated our intention to focus on shared-memory architectures so that developers could easily perform synchronous read-access and atomic transactions with other contracts. The consequence of this approach was a loss of horizontal scaling beyond a single high end machine.

      shared memory constrains horizontal scaling

    6. Under this model, the communication will be secured so long as at least ⅓ of producers are honest.

      Hmmm so it has a 66% percent fault tolerance?

    7. Whereas traditionally light clients have to process all block headers, EOS.IO will enable light clients that only have to process block headers when producers change or when a new message is required from a more recent block.

      Something about that sounds off

    8. EOS.IO will be the first proof-of-stake protocol with support for light client validation.

      Is it really the only pos protocol with support for light clients?

    9. EOS Dawn 3.0 will re-introduce horizontal scaling of single chains and infinite scaling via secure inter-blockchain communication. With these two features there will be no limit to what can be built on blockchain technology, nor for how decentralized the network of blockchains can become.

      That's a bold statement! Can't wait to see how it plays out once everything runs on a blockchain.

    10. The contract is billed based upon the total data they store plus a constant overhead factor for each independent database entry. This in-memory database is independent and separate from the EOS.IO Storage protocol for decentralized bulk hosting and storage.

      Can rent memory

    11. All accounts whose authority is required for the transaction will have their 3-day average bandwidth incremented based upon the size of the transaction.

      Uses 3 day average for bandwidth calculations

    12. All transactions consume some of the maximum network bandwidth as configured by the block producers.

      Block producers decide network capacity.

    13. Because of these outstanding attack vectors, performance testing will remain a task for private test networks, but feature testing can now be performed on a public test network which we are artificially limiting to 30 TPS to ensure uptime and access.

      Public test network is limited to 30 tps

    14. That said, there are known attack vectors for which we have unimplemented solutions. For example, compilation of new contracts for the first time can take up to 34ms, which if exploited could cause the network to fragment at transaction rates over 30 TPS.

      Taking very iterative approach. Hopefully this long period of open development will all for white hat hackers to identify all attack vectors.

    15. Our internal testing shows we can sustain several thousand transfers per second and 1 second blocks using our single-threaded implementation on average hardware.

      Estimate of 5-10k tps

    16. due to parallel development paths our implementation of Inter-Blockchain Communication exists on a separate branch that will not be used for the initial test network.

      Interblockchain communication not implemented

    1. But when CryptoKitties was officially released on October 28, it unexpectedly became a multi-million dollar digital kitten mill—perhaps the strongest ever confirmation that a fool and their Ethereum are easily parted.

      Hahaha so true. A clear indication

    1. Its equivalent in the non-profit world is called "micro-volunteering" whereby individuals donate their time and skills to undertake micro-tasks such as tagging pictures or transcribing handwritten messages in support of development projects worldwide.

      from micro volunteering to micropreneurship

    2. The micropreneur may then launch the business and become a traditional business owner if desired.

      gives entrepreneurs more flexibility

    3. micropreneur

      i dont think i like it, but it could grow on me

    1. f MAX_ACCUMULATE_DAY = 7 and VOTING_CONSUME_FACTOR = 0.2, the user can carry out effective ratings for five times with the accumulated coin days per day. However, there is an upper limit of daily rating: every user is only permitted to make ratings for no more than 35 times a day (excluding ineffective ratings) regardless of the accumulated coin days

      Interesting constraint. Not sure why this is necessary

    2. The POT (Proof of Taste) content rating algorithm based on the principle of income distribution dependent on net positive rating weight is applied to YOYOW network

      what steem refers to as proof of brain

    3. YOYOW, named from “You Own Your Own Words”, is a blockchain-based network aiming to quantify contribution and give rewards of participants in the content producing sector with decentralized consensus methods so that content producers, content investors, curators, and consumers of the content ecosystem can be provided with incentives and returns as appropriate.

      alignment of incentives by content producers and beneficiaries

    1. We will provide SDKs and detailed development documents for third-party developers to help them build their own customized content platforms, like blockchain version of Quora, twitter or facebook, different types of content platforms can be built on the top of YOYOW network, for independent bloggers or writers, we will provide plug-ins to enable them to create their own branded platforms

      steem of china

    1. Bullish scenario: Consolidation above the $10,000 mark for a next couple of days would improve the odds of bitcoin moving to fresh record highs.

      interesting, positive

    2. The doors look open for a drop to $9,000. A close below $9,202 (38.2 percent Fibonacci retracement) could yield a sell-off to $7,793 (61.8 percent Fibonacci retracement). However, the 10-day MA (seen today at $9,000) is still sloping upwards, thus losses below the same are likely to be short-lived.

      interesting, negative

    3. The decline to below $10,000 comes despite news that Nasdaq plans to launch bitcoin futures in 2018, perhaps indicating that bitcoin's coming move towards the investment mainstream has been priced in by the markets.

      interesting, negative

    4. Notably, it's only been a day since the cryptocurrency clocked an all-time high of $11,363.99, before falling more than 15 percent to $9,295.79, as per CoinDesk's Bitcoin Price Index (BPI).

      interesting, negative

    5. Bitcoin prices are taking a hit at press time, and could suffer a deeper pullback over the weekend, the price charts indicate.


    1. some of the data required has also been reduced from the initial order, which included information such as wallet addresses and public keys.

      intersting, positve

    2. The dispute over user records has been ongoing since November 2016, with the IRS proposing a reduced summons in July this year – down from an initial 480,000 customer accounts requested.

      interesting, positive

    3. Coinbase must now provide the tax agency with the name, address, taxpayer identification numbers and date of birth of customers associated with these accounts, a court filing states.

      controversial, negative

    4. Following a lengthy legal battle between the two entities, the San-Francisco district court ruled Tuesday that Coinbase must hand over user accounts at the exchange that bought, sold, sent or received sums of $20,000 and higher between 2013 and 2015.


  2. Nov 2017
    1. SMT creator may specify thatSteem Power can control a portion of the SMT’s rewards pool for an unlimited or limitedamount of time, with increasing or decreasing influence. Altogether, Shared Influence mayallow SMTs to be wholly or partially bootstrapped by the interest of existing and activeSteem or other SMT community members. Through these tools, community managersand entrepreneurs launching a token may leverage existing user bases to accelerate thedistribution of the SMT to a target market.

      User base targeting

    2. SMT-based ICOsallow a portion of STEEM tokens received to be sent into an SMT’s on-chain, off-order-book market maker in order to provide liquidity to the SMT at a specified reserve ratio.

      Really important to provide liquidity to token holders, otherwise tokens would be useless.

    3. En-trepreneurs may now create tokens to integrate with their blog, application, or an entirenetwork of applications and topics

      The chief advantage of steem is that developers integrate with it instead of develop on it. There are fewer development cost and risks. Your dont have to write your own smart contracts, in a new language and in a possibly insecure environment.

    4. By leveraging the concepts of inflation (new token emissions) and token al-locations by post-based voting, SMTs exist in a manner where value must be distributedto users who are participating in their related content networks and applications.

      Value is transferred from investors to workers, and - assuming the product of their labor is something that people want and grows the value of the platform over time - back to the investors.

    5. Smart Media Tokens (SMTs) is a proposal to build a consensus-level token issuance pro-tocol on the Steem blockchain. Inspired by the revolutionary properties of the STEEMtoken, including automatic distributions to content creators, SMTs will be an upgradebeyond previously created blockchain token issuance protocols due to carefully designedtoken sale programmability, automated liquidity providers, decentralized token marketsand dynamic token distribution parameters, as well as a large ecosystem of tools (opensource wallets, shared key signing tools, etc.) for integrations at website and applicationlayers.

      summary of smts

    6. Due to suboptimal transactioncost structures that incur fees for basic actions such as voting or posting, misalignmentof interests between meta and core tokens that aren’t built for influencing distributionsbased on Proof-of-Brain, private key hierarchies that don’t cater to social versus financialoperations, and slow transaction speeds that are out of sync with real-time websites - noneof these protocols could ever provide an acceptable user experience for content websites,such as Twitter, Reddit (even subreddits) or The New York Times.

      No other blockchain platform is more suited for the web.

    1. Steem has a current marketcap of ~$280 million, but the dapps being built on it are arguably very much in their nascent stages and their value has yet to be demonstrated in a way that correlates to the value of Steem in a sane way, IMHO. What this means to me is that the vast majority of people treat Steem like an asset and not like a platform on which to develop

      wonder if he knows about utopian.io or that you don't need to build dapps but just integrate with apps

    2. It doesn’t even really matter if the EOS marketcap is $3 billion and the repo on github is going bonkers 24/7; if EOS becomes a super computer with no users then we’ve all failed (unless you’re only in it for the ICO).

      This is exactly what ethereum is.

    3.  but ultimately such raw processing power is only cool to the crypto community

      thats not true, businesses need high throughput applications

    4. Neither of those blockchains are (currently) built to handle high TPS so of course they’re smaller. It feels very apples and oranges to me.

      Thats the point. They are in completely different leagues.

    1. Blockchain technology has migrated from public blockchains, like bitcoin, to either open blockchains, like Ethereum or, increasingly more frequently, private blockchains. It is the latter that currently hold the promise to serve as viable platforms for data economy.

      Does not take into consideration a ubiquitous blockchain protocol for the internet.

    1. The notion, for example, that bitcoin’s in-built scarcity will drive its price higher ad infinitum assumes it operates in some kind of detached vacuum. The ever-present prospect of software forks, while not technically adding to the supply of bitcoin core, points to a wide set of options for investors in the future.

      Alternative tokens all provide the same platform level utility as bitcoin and that is as a secure data store, finite commodity and payment processor. Bitcoin has no relative value add on a technical bases.

    2. But as someone who spent decades watching financial markets go through repeated patterns of exuberance and retrenchment, I’m quite uneasy with bitcoin’s latest runup. A 20% gain over the weekend left it up 60% over two weeks and up an eye-popping 900% year-to-date.

      This is not "normal"

    1. Many of you won't like it (at first), but push will win over pull. Healthcare is going through a similar transformation from pull to push

      Inertia towards new behaviors

    2. What people really want is to tune into information rather than having to work to get information

      Yep. People are lazy and want relevant information readily available instead having to search for it

    3. Facebook "pushes" a stream of personalized information designed to tell you what is happening with your friends and family; you no longer have "pull" them and ask how they are doing.

      Feeds are an import precursor to this fully push based web.

    4. Instead of visiting a website, we will proactively be notified of what is relevant and asked to take action. The dominant function of the web is to let us know what is happening or what is relevant, rather than us having to find out.

      This can be done on the individual level using private data or on the group level using public data. Need more public data tho (i.e. blockchain data)

    1. Dries Buytaert, the founder of Drupal, talks about “the big reverse of the web” and states “the current web is ‘pull-based,’ meaning we visit websites or download mobile applications. The future of the web is ‘push-based,’ meaning the web will be coming to us.”

      Yes. Everthing is already becoming push based (e.g. feeds) but this will become more of a thing

    1. They've been usurped by specialist firms with the resources to make their own powerful mining kit.

      I imagine the same will happen with Steem

    2. Bitcoin pushed beyond $8,000 this week, a boon to those willing to pour money into a risky and speculative piece of code that's hoarded more than spent.

      Important to recognize that ppl don't use bitcoin they just buy it in anticipation that someone will want to buy it at a higher price later.

    1. The key point that President Obama has missed along with all the rabid supporters of net neutrality is that ISPs and the companies that control the Internet backbone infrastructure that knits everything together do not have the power to pick winners and losers either. Consumers decide what products and services are successful because we adopt them. If an ISP blocks Netflix NFLX +1.09%NetflixNFLX$196.22$2.12(+1.09%)As of 11/22/2017, 03:46am EST because of the bandwidth it requires, consumers who want Netflix will take their business elsewhere. If enough people do so, the ISP will have to change policies or go out of business.

      Not taking into consideration the feedback loop between consumer and supplier. At the end of the day consumers pick winners and losers in the free market.

    2. As the former chief economist for the FCC, Thomas Hazlett, pointed out this week in Time, Facebook, Instagram, Twitter TWTR +3.55%TwitterTWTR$21.88$0.75(+3.55%)As of 11/22/2017, 03:46am EST, LinkedIn LNKD +0%LinkedInLNKD$0$0(+0%)As of 11/22/2017, 03:46am EST (and many, many more success stories of innovation) all emerged without the benefit of net neutrality. In the time when the government might have been ensuring a level playing field for the Internet pipe into our homes, smartphones and mobile devices completely changed how most people connect to and use the Internet.

      mobile (ie new technology) levels the playing field not the gov

    1. Wealth managers also remind would-be bitcoin buyers that the first mover in a new technology is often not the big winner

      Great intuition

    1. Of the finance chiefs based in Europe, the Middle East, and Africa, 41.7 percent said that bitcoin is "real but in a bubble" compared to 20.8 percent in the U.S. and 28.6 percent in the Asia Pacific region. A third of respondents in EMEA also think bitcoin is a "fraud," higher than their counterparts in the other regions across the world.

      APAC > EMEA > US bullishness

    2. Meanwhile, 27.9 percent said bitcoin is a "fraud" while 30.2 percent of CFOs said they don't know enough about the digital currency to have an opinion.

      A large percentage are still not interested

    3. Out of the 43 that responded, 27.9 percent said the cryptocurrency is "real but in a bubble." Another 14 percent said that bitcoin is "real and still going higher."

      If 14% of fund managers invested 1% of their portfolio into digital currencies the market cap would reach $850

    1. NEO’s GitHub has alarmingly sparse activity

      Open source development isn't a thing in China. Will probably be an issue for the scalability of development from china initially.

    2. There are 7 consensus nodes at this moment, for reasons explained in the whitepaper (for example balancing decentralization with performance). These consensus nodes are voted in by NEO holders. There is no whitelisting; whoever got the votes becomes consensus node. In fact, two external nodes have already been consensus nodes (explained later), confirming that the voting system work perfectly fine.

      Only has 7 consensus nodes!?