A blockchain in 200 lines of code by Lauri Hartikka Medium

Which type of curren(t) do you want to see(cy)? An analysis of the intention behind bitcoin(s). Part 3

Part 1
Part 2
So I have been subbed to /bitcoin since it had less than two thousand subs but haven't posted there in years. I think I took a break from researching bitcoin to take a foray into the world of conspiracy around 2014 and only got back in to it around the beginning of 2017 but with a bit of sense of skepticism and cynicism about everything. I think I returned to /bitcoin around that time but there had been a rift that had emerged in the community between those that said that bitcoin was censoring any discussion around big blocks but then also just censorship in general. This lead to the formation of /btc which became the main spot for big blockers to gather to talk about protocol development. Following the fork of Bitcoin Cash and SegWit (BTC) in August 2017 the camps were further divided when the fence sitters were denied their SegWit2x compromise. Many from the fence sitters then deferred back to the incumbent bitcoin as citing muh network effect, liquidity, and hashpower while some who felt betrayed by the failure of getting S2X through went to support BCH for some attempt at on chain scaling rather than through pegged side chains or Lightning Network.
Bitcoin cash initially went with a modest doubling of the blocksize to 2MB but implemented some other features like a new more rapidly adjusting difficulty algorithm to protect themselves against hashpower fluctuations from the majority chain. In about July of that year I had seen what I potentially thought was someone LARPing on /biz/ but screencapped, that segwit2x which was scheduled for november 2017 would be called off and then hashpower would switch to BCH causing congestion and chain death spiral on BTC and BCH would pump massively. I was partial to the idea as the game theory and incentives on a big block bitcoin should attract miners. About a month after SegWit2x was indeed called off while the BTC blockchain was hugely congested, BCH went through a violent pump reaching 0.5 BTC/BCH on a European exchange called Kraken while it also pumped ridiculously on American exchange coinbase. Shortly afterwards the market took a giant dump all over those people who bought the top and it has since retraced to roughly 30:1 or so now.
After that pump though BCH kind of gained some bagholders I guess who started to learn the talking points presented by personalities like Roger Ver, Jihan Wu, Peter Rizun and Amaury Sechet. Craig S Wright by this time had been outed as Satoshi but had in 2016 publicly failed to convince the public with the cryptographic proof he provided. To which he later published the article I don't have the courage to prove I am the bitcoin creator. In essence this allowed many to disregard anything he offered to the crypto community though his company nChain was very much interested in providing the technical support to scale what he saw as the true implementation of bitcoin. Following debate around a set of planned protocol upgrades between a bitcoin node implementation by his company nChain and the developers of another client Bitcoin ABC (adjustable block cap), the two parties both dug their heels in and wouldn't compromise.
As it became clear that a fork was imminent there was a lot of vitriol tossed out towards Wright, another big billionaire backer Calvin Ayre and other personalities like Roger Ver and Jihan Wu. Craig's credibility was disregarded because of his failure to provide convincing cryptographic proof but still people who wanted to pursue the protocol upgrades that nChain were planning (as it best followed their interpretation of the bitcoin white paper) pursued his variant, while others who followed the socia consensus deferred to the positions of their personalities like Wu, Ver, and Sechet but even developers from Ethereum and other protocols chimed in to convince everyone that CSW is a fraud. This was referred to as the hash war and was the first time that the bitcoin protocol had been contentiously hard forked.

Hashpower is the CPU cycles you can commit to the Proof of Work function in bitcoin and the majority will generate the longest chain as they have the most proof of work. To win the contentious hard fork legitimately and make sure your chain will always be safe going forward you need to maintain your version of the blockchain with 51% of the hashpower on the network and force the other parties to continue to spend money on building a blockchain that is never going to be inserted in to the majority chain. As well as this you need to convince exchanges that you have the majority chain and have them feel safe to accept deposits and withdrawals so that they don't lose money in the chaos. This is how it would play out if both parties acted according to the rules of bitcoin and the Nakamoto Consensus.

There was a lot of shit talking between the two parties on social media with Craig Wright making a number of claims such as "you split, we bankrupt you" "I don't care if there is no ability to move coins to an exchange for a year" and other such warnings not to engage in foul play.. To explain this aftermath is quite tedious so It might be better to defer to this video for the in depth analysis but basically Roger Ver had to rent hashpower that was supposed to be mining BTC from his mining farm bitcoin.com, Jihan Wu did the same from his Bitmain Mining Farm which was a violation of his fiduciary duty as the CEO of a company preparing for an IPO. In this video of a livestream during the hashwar where Andreas Brekken admits to basically colluding with exchange owners like Coinbase, Kraken (exchange Roger Ver invested in), Bitfinex and others to release a patched ABC client to the exchanges and introducing "checkpoints" in to the BCH blockchain (which he even says is arguably "centralisation") in order to prevent deep reorgs of the BCH blockchain.
>"We knew we were going to win in 30 mins we had the victory because of these checkpoints that we released to a cartel of friendly businesses in a patch so then we just sat around drinking beers all day".
By releasing a patched client that has code in it to prevent deep reorgs by having the client refer to a checkpoint from a block mined by someone who supported BCHABC if another group of hash power was to try to insert a new chain history, this cartel of exchanges and mining farm operators conspired in private to change the nature of the bitcoin protocol and Nakamoto Consensus. Since the fork there have been a number of other BCH clients that have come up that require funding and have their own ideas about what things to implement on the BCH chain. What began to emerge was actually not necessarily an intention of scaling bitcoin but rather to implement Schnorr signatures to obfuscate transactions and to date the ABC client still has a default blocksize of 2MB but advertised as 16MB.
What this demonstrates for BCH is that through the collusion, the cartel can immediately get a favourable outcome from the developers to keep their businesses secure and from the personalities/developers to work on obfuscating records of transactions on the chain rather than scaling their protocol. After the SegWit fork, many from the BCH camp alleged that through the funding to Blockstream from AXA and groups that tied to the Bilderbergs, Blockstream would be beholden to the legacy banking and would be a spoke and hub centralised model, so naturally many of the "down with central banks anarcho capitalist types" had gathered in the BCH community. Through these sympathies it seems that people have been susceptible to being sold things like coin mixing and obfuscation with developers offering their opinions about how money needs to be anonymous to stop the evil government and central banks despite ideas like Mises’ Regression Theorem, which claims that in order for something to be money in the most proper sense, it must be traceable to an originally non-monetary barter commodity such as gold.
What this suggests is that there is an underlying intent from the people that have mechanisms to exert their will upon the protocol of bitcoin and that if obfuscation is their first priority rather than working on creating a scalable platform, this demonstrates that they don't wish to actually be global money but more so something that makes it easier to move money that you don't want seen. Roger Ver has often expressed sentiments of injustice about the treatment of Silk Road found Ross Ulbricht and donated a large amount of money to a fund for his defence. I initially got in to bitcoin seeking out the Silk Road and though I only wanted to test it to buy small quantities of mdma, lsd, and mescaline back in 2011 there was all sorts of criminal activity on there like scam manuals, counterfeits, ID, Credit Card info, and other darknet markets like armoury were selling pretty crazy weapons. It has been alleged by Craig Wright that in his capacity as a digital forensics expert he was involved with tracing bitcoin that was used to fund the trafficking of 12-16 year olds on the silk road. There have been attempts at debunking such claims by saying that silk road was moderated for such stuff by Ulbricht and others, but one only has to take a look in to the premise of pizza gate to understand that there it may be possible to hide in plain site with certain code words for utilising the market services and escrow of websites like the silk road. The recent pedo bust from South Korea demonstrates the importance of being able to track bitcoin transactions and if the first thing BCH wanted to do after separating itself from Satoshi's Vision and running on developer and cartel agendas was to implement obfuscation methods, this type of criminal activity will only proliferate.
Questions one must ask oneself then are things like why do they want this first? Are some of these developers, personalities and cartel businesses sitting on coins that they know are tarnished from the silk road and want to implement obfuscation practices so they can actually cash in some of the value they are unable to access? Merchants from the silk road 1 are still being caught even as recently as this year when they attempted to move coins that were known to have moved through the silk road. Chain analytics are only becoming more and more powerful and the records can never be changed under the original bitcoin protocol but with developer induced protocol changes like Schnorr signatures, and coinjoin it may be possible to start laundering these coins out in to circulation. I must admit with the cynicism I had towards government and law enforcement and my enjoying controlled substances occasionally I was sympathetic to Ross and donated to his legal fund back in the day and for many years claimed that I wouldn't pay my taxes when I wanted to cash out of bitcoin. I think many people in the space possess this same kind of mentality and subsequently can be preyed upon by people who wish to do much more in the obfuscation than dodge tax and party.
Another interesting observation is that despite the fact that btc spun off as a result of censorship around big block scaling on bitcoin, that subreddit itself has engaged in plenty of censorship for basically anyone who wants to discuss the ideas presented by Dr Craig Wright on that sub. When I posted my part 2 of this series in there a week ago I was immediately met with intense negativity and ad hominems so as to discourage others from reading the submission and my post history was immediately throttled to 1 comment every 10 mins. This is not quite as bad as cryptocurrency where my post made it through the new queue to gather some upvotes and a discussion started but I was immediately banned from that sub for 7 days for reason "Content standards - you're making accusations based on no evidence just a dump of links that do nothing to justify your claims except maybe trustnodes link (which has posted fabricated information about this subreddit mods) and a Reddit post. Keep the conspiracy theories in /conspiracy" My post was also kept at zero in bitcoin and conspiracy so technically btc was the least censored besides C_S_T.
In addition to the throttling I was also flagged by the u/BsvAlertBot which says whether or not a user has a questionable amount of activity in BSV subreddits and then a break down of your percentages. This was done in response to combat the "toxic trolls" of BSV but within bitcoincashSV there are many users that have migrated from what was originally supposed to be a uncensored subreddit to discuss bitcoin and many such as u/cryptacritic17 has have switched sides after having been made to essentially DOXX themselves in btc to prove that they aren't a toxic troll for raising criticisms of the way certain things are handled within that coin and development groups. Other prominent users such as u/jim-btc have been banned for impersonating another user which was in actual fact himself and he has uploaded evidence of him being in control of said account to the blockchain. Mod Log, Mod Damage Control, Mod Narrative BTFO. Interestingly in the comments on the picture uploaded to the blockchain you can see the spin to call him an SV shill when in actual fact he is just an OG bitcoiner that wanted bitcoin to scale as per the whitepaper.
What is essentially going on in the Bitcoin space is that there is a battle of the protocols and a battle for social consensus. The incumbent BTC has majority of the attention and awareness as it is being backed by legacy banking and finance with In-Q-Tel and AXA funding blockstream as well as Epstein associates and MIT, but in the power vaccum that presented itself as to who would steward the big block variant, a posse of cryptoanarchists have gained control of the social media forums and attempted to exert their will upon what should essentially be a Set In Stone Protocol to create something that facilitates their economic activity (such as selling explosives online)) while attempting to leverage their position as moderators who control the social forum to spin their actions as something different (note memorydealers is Roger Ver). For all his tears for the children killed in wars, it seems that what cryptoanarchists such as u/memorydealers want is to delist/shut down governments and they will go to any efforts such as censorship to make sure that it is their implementation of bitcoin that will do that. Are we really going to have a better world with people easier able to hide transactions/launder money?
Because of this power vacuum there also exists a number of different development groups but what is emerging now is that they are struggling for money to fund their development. The main engineering is done by self professed benevolent dictator Amaury Sechet (deadalnix) who in leaked telegram screen caps appears to be losing it as funding for development has dried up and money raised in an anarchist fashion wasn't compliant with laws around fundraising sources and FVNI (development society that manages BCH development and these donations) is run by known scammer David R Allen. David was founder of 2014 Israeli ICO Getgems (GEMZ) that scammed investors out of more than 2500 Bitcoins. The SV supported sky-lark who released this information has since deleted all their accounts but other users have claimed that sky-lark was sent personal details about themselves and pictures of their loved ones and subsequently deleted all their social media accounts afterwards.
There are other shifty behaviours like hiring Japanese influencers to shill their coin, recruiting a Hayden Otto that up until 2018 was shilling Pascal Coin to become a major ambassador for BCH in the Australian city of Townsville. Townsville was claimed to be BCH city hosting a BCH conference there and claiming loads of adoption, but at the conference itself their idea of demonstrating adoption was handing a Point of Sale device to the bar to accept bitcoin payments but Otto actually just putting his credit card behind the bar to settle and he would keep the BCH that everyone paid. In the lead up to the conference the second top moderator of btc was added to the moderators of townsville to shill their coin but has ended up with the townsville subreddit wanting to ban all bitcoin talk from the subreddit.
Many of the BCH developers are now infighting as funding dries up and they find themselves floundering with no vision of how to achieve scale or get actual real world adoption. Amaury has recently accused Peter Rizun of propagandising, told multiple users in the telegram to fuck off and from all accounts appears to be a malignant narcissist incapable of maintaining any kind of healthy relationship with people he is supposed to be working with. Peter Rizun has begun lurking in bitcoincashSV and recognising some of the ideas coming from BSV as having merit while Roger has started to distance himself from the creation of BCH. Interestingly at a point early in the BCH history Roger believed Dr Craig Wright was Satoshi, but once CSW wouldn't go along with their planned road map and revealed the fact he had patents on blockchain technology and wanted to go down a path that worked with Law, Roger retracted that statement and said he was tricked by Craig. He joined in on the faketoshi campaign and has been attempted to be sued by Dr Wright for libel in the UK to which Roger refused to engage citing grounds of jurisdiction. Ironically this avoidance of Roger to meet Dr Wright in court to defend his claims can be seen as the very argument against justice being served by private courts under an anarchocapitalist paradigm with essentially someone with resources simply being able to either flee a private court's jurisdiction or engage a team of lawyers that can bury any chances of an everyday person being able to get justice.
There is much more going on with the BCH drama that can be explained in a single post but it is clear that some of the major personalities in the project are very much interested in having their ideals projected on to the technical implementation of the bitcoin protocol and have no qualms spouting rhetoric around the anti-censorship qualities of bitcoin/BCH while at the same time employing significant censorship on their social media forums to control what people are exposed to and getting rid of anyone who challenges their vision. I posit that were this coin to become a success, these "benevolent dictators" as they put it would love their new found positions of wealth/dominance yet if their behaviour to get there is anything to go by, would demonstrate the same power tripping practices of censorship, weasel acts, misleading people about adoption statistics and curating of the narrative. When the hashrate from Rogers bitcoin.com minging operation on BCH dropped dramatically and a lot of empty blocks were being mined, his employer and 2IC moderator u/BitcoinXio (who stepped in to replace roger as CEO) was in the sub informing everyone it was simply variance that was the reason when only a few days later it was revealed that they had reduced their hash power significantly. This is not appropriate behaviour for one of the primary enterprises engaged in stewarding BCH and encouraging adoption nor is the inability to be accountable for such dishonest practices as well. It seems bitcoin.com treats btc as their own personal spam page where Roger can ask for donations despite it being against the sub rules and spin/ban any challenge to the narrative they seek to create.
Let's see how the censorship goes as I post this around a few of the same places as the last piece. Stay tuned for the next write up where I take a deep dive in to the coin that everyone doesn't want you to know about.
submitted by whipnil to C_S_T [link] [comments]

Bitcoin Mining Profitability: How Long Does it Take to Mine One Bitcoin in 2019?

When it comes to Bitcoin (BTC) mining, the major questions on people’s minds are “how profitable is Bitcoin mining” and “how long would it take to mine one Bitcoin?” To answer these questions, we need to take an in-depth look at the current state of the Bitcoin mining industry — and how it has changed — over the last several years.
Bitcoin mining is, essentially, the process of participating in Bitcoin’s underlying security mechanism — known as proof-of-work — to help secure the Bitcoin blockchain. In return, participants receive compensation in bitcoins (BTC).
When you participate in Bitcoin mining, you are essentially searching for blocks by crunching complex cryptographic challenges using your mining hardware. Once a block is discovered, new transactions are recorded and verified within the block and the block discoverer receives the block rewards — currently set at 12.5 BTC — as well as the transactions fees for the transactions included within the block.
Once the maximum supply of 21 million Bitcoins has been mined, no further Bitcoins will ever come into existence. This property makes Bitcoin deflationary, something which many argue will inevitably increase the value of each Bitcoin unit as it becomes more scarce due to increased global adoption.
The limited supply of Bitcoin is also one of the reasons why Bitcoin mining has become so popular. In previous years, Bitcoin mining proved to be a lucrative investment option — netting miners with several fold returns on their investment with relatively little effort.
bitcoin mining hardware
Mining Hardware
The mining hardware you choose will mostly depend on your circumstances — in terms of budget, location and electricity costs. Since the amount of hashing power you can dedicate to the mining process is directly correlated with how much Bitcoin you will mine per day, it is wise to ensure your hardware is still competitive in 2019.
Bitcoin uses SHA256 as its mining algorithm. Because of this, only hardware compatible with this algorithm can be used to mine Bitcoin. Although it is technically possible to mine Bitcoin on your current computer hardware — using your CPU or GPU — this will almost certainly not generate a positive return on your investment and you may end up damaging your device.
The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. These are specially-designed machines that offer much higher performance per watt than typical computers and have been an absolutely essential purchase for anybody looking to get into Bitcoin mining since the first Avalon ASICs were shipped in 2013.
When it comes to selecting Bitcoin mining hardware, there are several main parameters to consider — though the importance of each of these may vary based on personal circumstances and budget.
Performance per Watt
When it comes to Bitcoin mining, performance per watt is a measure of how many gigahashes per watt a machine is capable of and is, hence, a simple measure of its efficiency. Since electricity costs are likely to be one of the largest expenses when mining Bitcoin, it is usually a good idea to ensure that you are getting good performance per watt out of your hardware.
Ideally, your mining hardware would be highly efficient, allowing it to mine Bitcoin with lower energy requirements — though this will need to be balanced with acquisition costs, as often the most efficient hardware is also the most expensive. This means it may take longer to see a return on investment.
In countries with cheap electricity, performance per watt is often less of a concern than acquisition costs and price-performance ratio. In most countries, operating outdated mining hardware is typically cost prohibitive, as energy costs outweigh the income generated by the mining equipment.
However, this may not be the case for those operating in countries with extremely cheap electricity — such as Kuwait and Venezuela — as even older equipment can still be profitable. Similarly, miners with a free energy surplus, such as from wind or solar electric generators, can benefit from the minimal gains offered by still running outdated hardware.
Longevity
The lifetime of mining hardware also plays a critical role in determining how profitable your mining venture will be. It’s always a good idea to do whatever possible to ensure it runs as smoothly as possible.
Since mining equipment tends to run at a full (or almost full) load for extended periods, they also tend to break down and fail more frequently than most electronics — which can seriously damage your profitability. Equipment failure is even more common when purchasing second-hand equipment. Since warranty claims are often challenging, it can often take a long time to receive a warranty replacement.
Price-Performance Ratio
In many cases, one of the major criteria used to select mining hardware is the price-performance ratio — a measure of how much performance a machine outputs per unit price. In the case of cryptocurrency mining hardware, this is commonly expressed as gigahashes per dollar or GH/$.
Under ideal circumstances, the mining hardware would have a high price-performance ratio, ensuring you get a lot of bang for your buck. However, this must also be considered in combination with the acquisition costs and the expected lifetime of the machine — since the absolute most powerful machines are not always the cheapest or the most energy efficient.
Acquisition Costs
Acquisition costs are almost always the biggest barrier to entry for most Bitcoin miners since most top-end mining hardware costs several thousand dollars. This problem is further compounded by the fact that many hardware manufacturers offer discounts for bulk purchases, allowing those with deeper pockets to achieve a better price-performance ratio.
Acquisition costs include all the costs involved in purchasing any mining equipment, including hardware costs, shipping costs, import duties, and any further costs. For example, many ASIC miners do not include a power supply — which can be another considerable expense, since the 1,000W+ power supplies usually required tend to cost several hundred dollars alone.
Ensuring your equipment runs smoothly can also add in additional costs, such as cooling and maintenance expenses. In addition, some miners may want to invest in uninterruptible power supplies to ensure their hardware keeps running — even if the power fails temporarily.
asic mining
Current Generation Hardware
One of the most recent additions to the Bitcoin mining hardware market is the Ebang Ebit E11++, which was released in October 2018. Using a 10nm fabrication process for its processors, the Ebit E11++ is able to achieve one of the highest hash rates on the market at 44TH/s.
In terms of efficiency, the Ebang Ebit E11++ is arguably the best on the market, offering 44TH/s of hash rate while drawing just 1,980W of power, offering 22.2GH/W performance. However, as of writing, the Ebang Ebit E11++ is out of stock until March 31, 2019 — while its price of $2,024 (excluding shipping) may make it prohibitively expensive for those first getting involved with Bitcoin mining.
Another popular choice is the ASICminer 8 Nano, a machine released in October 2018 that offers 44TH/s for $3,900 excluding shipping. The ASICminer 8 Nano draws 2,100W of power, giving it an efficiency of almost 21GH/W — slightly lower than the Ebit E11++ while costing almost double the price. However, unlike the E11++, the 8 Nano is actually in stock and available to purchase.
ASICminer also offers the 8 Nano Pro, a machine launched in mid-2018 that offers 80 TH/s of hash rate for $9,500 (excluding shipping). However, unlike the Ebit E11++ and 8 Nano, the minimum order quantity for the 8 Nano Pro is curiously set at five, meaning you will need to lay out a minimum of $47,500 in order to actually get your hands on one (or five).
While the 8 Nano Pro doesn’t offer the same performance per watt as the Ebit E11+ or AICMiner 8 Nano, it is one of the quieter miners on this list, making it more suitable for a home or office environment. That being said, the ASICminer 8 Nano Pro is easily the most expensive miner per TH on this list — costing a whopping $118.75/TH, compared to the $46/TH offered by the E11++ and $88.64 offered by the 8 Nano.
The latest hardware on this list is the Innosilicon T3 43T, which is currently available for pre-order at $2,279, and estimated to ship in March 2019. Offering 43TH/s of performance at 2,100W, the T3 43T comes in at an efficiency of 20.4GH/W, which is around 10 percent less energy efficient than the Ebit E11++.
The T3 43T also has a minimum order quantity of three units, making the minimum acquisition cost $6837 + shipping for preorders. All in all, the T3 43T is more costly and less efficient than the E11++ but may arrive slightly earlier since Ebang will not ship the E11++ units until at least end March 29, 2019.
Finally, this list would not be complete without including Bitmain’s latest offering, the Antminer S15-28TH/s, which — as its name suggests — offers 28TH/s of hash power while drawing just under 1600W at the wall. The Antminer S15 is one of the only SHA256 miners to use 7nm processors, making it somewhat smaller than some of the other devices on this list.
Like most pieces of top-end Bitcoin mining hardware, the Antminer S15 27TH/s model is currently sold out, with current orders not shipping until mid-February 2019. However, the S15 is offered at a significantly lower price than many of its competitors at just $1020 (excluding shipping), with no minimum quantity restriction. At these rates, the Antminer comes in at just $37.78/TH — though its energy efficiency is a much less impressive 17.5GH/W.
Mining Hardware Mining Hardware Comparison
Performance (GH/W) Price Performance Ratio ($/TH)
Ebang Ebit E11++ 22.2GH/W $46/TH
ASICminer 8 Nano 21GH/W $88.64/TH
ASICminer 8 Nano Pro 19GH/W $118.75/TH
Innosilicon T3 43T 20.4GH/W $53/TH
Antminer S15-28TH/s 17.5GH/W $37.78/TH
How To Select a Good Mining Pool
Mining pools are platforms that allow miners to pool their resources together to achieve a higher collective hash rate — which, in turn, allows the collective to mine more blocks than they would be able to achieve alone.
Typically, these mining pools will distribute block rewards to contributing miners based on the proportion of the hash rate they supply. If a pool contributing a total of 20 TH/s of hash rate successfully mines the next block, a user responsible for 10 percent of this hash rate will receive 10 percent of the 12.5 BTC reward.
Pools essentially allow smaller miners to compete with large private mining organizations by ensuring that the collective hash rate is high enough to successfully mine blocks on regular basis. Without operating through a mining pool, many miners would be unlikely to discover any blocks at all — due to only contributing a tiny fraction of the overall Bitcoin hash rate.
While it is quite possible to be successful mining without a pool, this typically requires an extremely large mining operation and is usually not recommended — unless you have enough hash rate to mine blocks on a regular basis.
Although it is technically possible to discover blocks mining solo and keep the entire 12.5 BTC reward for yourself, the odds of this actually occurring are practically zero — making pool collaboration practically the only way to compete in 2019 and beyond.
Selecting the best pool for you can be a challenging job since the vast majority of pools are quite similar and offer similar features and comparable fees. Because of this, we have broken down the qualities you should be looking for in a new pool into four categories; reputation, hash rate, pool fees, and usability/features:
Reputation
The reputation of a pool is one of the most important factors in selecting the pool that is best for you. Well-reputed pools will tend to be much larger than newer or less well-established pools since few pools with a poor reputation can stand the test of time.
Well-reputed pools also tend to be more transparent about their operation, many of which provide tools to ensure that each user is getting the correct reward based on the hash rate contributed. By using only pools with a great reputation, you also ensure your hash rate is not being used for nefarious purposes — such as powering a 51 percent attack.
When comparing a list of pools that appear suitable for you, it is a wise move to read their user reviews before making your choice — ensuring you don’t end up mining at a pool that steals your hard-fought earnings.
Hash Rate
When it comes to mining Bitcoin, the probability of discovering the next block is directly related to the amount of hashing power you contribute to the network. Because of this, one of the major features you should be considering when selecting your pool is its total hash rate — which is often closely related to the proportion of new blocks mined by the pool
Since the total hash rate of a pool is directly related to how quickly it discovers new blocks, this means the largest pools tend to discover a relative majority of blocks — leading to more regular rewards. However, the very largest pools also tend the have higher fees but often make up for this with sheer success and additional features.
Sometimes, some of the largest pools have a minimum hash rate requirement ù leaving some of the smaller miners left out of the loop. Although smaller pools typically have more relaxed requirements with reduced performance thresholds, these pools may be only slightly more profitable than mining solo.
Pool Fees
When choosing a suitable pool, typically one of the major considerations is its fees. Typically, most pools will charge a small fee that is deducted from your earnings and is usually around 1-2 percent — but sometimes slightly lower or higher.
There are also pools that offer 0 percent fees. However, these are often much smaller than the major pools and tend to make their money in a different way — such as through monthly subscriptions or donations.
Ideally, you will choose the pool that offers the best balance of fees to other features. Usually, the pool with the absolute lowest fees is not the best choice. Additionally, pools with the lowest fees often have the highest withdrawal minimums — making pool hopping uneconomical for most.
Usability and Features
When first starting out with Bitcoin mining, learning how to set up a pool and navigating through the settings can be a challenge. Because of this, several pools target their services to newer users by offering a simple to navigate user interface and providing detailed learning resources and prompt customer support.
However, for more experienced miners, simple pools don’t tend to offer a variety of features needed to maximize profitability. For example, although many mining pools focus their entire hash rate towards mining a single cryptocurrency, some are large enough to offer additional options — allowing users to mine other SHA256 coins such as Bitcoin Cash (BCH) or Fantom if they choose.
These pools are technically more challenging to use and mostly designed for those familiar with mining, happy to hop from coin to coin mining whichever is most profitable at the time. There are even some exchanges that automatically direct their combined hash rate at the most profitable cryptocurrency — taking the guesswork out of the equation.
bitcoin mining pool
Best Mining Pools for 2019
The Bitcoin mining pool industry has a large number of players, but the vast majority of the Bitcoin hash rate is concentrated within just a few pools. Currently, there are dozens of suitable pools to choose from — but we have selected just a few of the best to help get you started on your journey.
Slushpool was the first Bitcoin mining pool released, being launched way back in 2010 under the name “Bitcoin Pooled Mining Server.” Since then, Slushpool has grown into one of the most popular pools around — currently accounting for just under 10 percent of the total Bitcoin hash rate.
Although Slushpool isn’t one of the very largest pools, it does offer a newbie-friendly interface alongside more advanced features for those that need them. The pool has moderately high fees of 2 percent but offers servers in several countries — including the U.S., Europe, China, and Japan — giving it a good balance of fees to features.
BTC.com is another potential candidate for your pool and currently stands as the largest public Bitcoin mining pool. It is responsible for mining around 17 percent of new blocks. Being the largest public mining pool provides users with a sense of security, ensuring blocks are mined regularly and a stable income is made.
Image courtesy of Blockchain.info.
BTC.com is owned by Bitmain, a company that manufacturers mining hardware, and charges a 1.5 percent fees — placing it squarely in the middle-tier in terms of fees. Unlike other platforms, BTC.com uses its own payment structure known as FPPS (Full Pay Per Share), which means miners also receive a share of the transaction fees included within mined blocks — making it slightly more profitable than standard payment per share (PPS) pools.
Another great option is Antpool, a mining pool that supports mining services for 10 different cryptocurrencies, including Bitcoin, Litecoin (LTC) and Ethereum (ETH). AntPool frequently trades places with BTC.com as the largest Bitcoin mining pool. However, as of this writing, it occupies the title of the third-largest public mining pool.
What sets Antpool apart from other pools is the ability to choose your own fee system — including PPS, PPS+, and PPLNS. If you choose PPLNS, using Antpool is free but you will not receive any transaction fees from any blocks mined. Antpool also offers regular payouts and has a low minimum payout of just 0.001 BTC, making it suitable for smaller miners.
Last on the list of the best Bitcoin mining pools in 2019 is the Bitcoin.com mining pool. Although this is one of the smaller pools available, the Bitcoin.com pool has some redeeming features that make it worth a look. It offers mining contracts, allowing you to test out Bitcoin mining before investing in mining equipment of your own. According to Bitcoin.com, they are the highest paying Pay Per Share (PPS) pool in the world, offering up to 98 percent block rewards as well as automatic switching between BTC and BCH mining to optimize profitability.

Electricity Costs
While your mining hardware is most important when it comes to how much BTC you can earn when mining, your electricity costs are usually the largest additional expense. With electricity costs often varying dramatically between countries, ensuring you are on the best cost-per-KWh plan available will help to keep costs down when mining.
Most commonly, large mining operations will be set up in countries where electricity costs are the lowest — such as Iceland, India, and Ukraine. Since China has one of the lowest energy costs in the world, it was previously the epicenter of Bitcoin mining. However, since the government began cracking down on cryptocurrencies, it has largely fallen out of favor with miners.
Technically, Venezuela is one of the cheapest countries in the world in terms of electricity, with the government heavily subsidizing these energy costs — while Bitcoin offers an escape from the hyperinflation suffered by the Venezuelan bolivar. Despite this, importing mining hardware into the country is a costly endeavor, making it impractical for many people.
Finding ways to lower your electricity costs is one of the best ways to improve your mining profitability. This can include investing in renewable energy sources such as solar, geothermal, or wind — which can yield increased profitability over the long term.
if you are looking to buy bitcoin mining equipment here is some links:

Model Antminer S17 Pro (56Th) from Bitmain mining SHA-256 algorithm with a maximum hashrate of 56Th/s for a power consumption of 2385W.
https://miningwholesale.eu/product/bitmain-antminer-s17-pro-56th-copy/?wpam_id=17
Model Antminer S9K from Bitmain mining SHA-256 algorithm with a maximum hashrate of 14Th/s for a power consumption of 1323W.
https://miningwholesale.eu/product/bitmain-antminer-s9k-14-th-s/?wpam_id=17
Model T2T 30Tfrom Innosilicon mining SHA-256 algorithm with a maximum hashrate of 30Th/s for a power consumption of 2200W.
https://miningwholesale.eu/product/innosilicon-t2t-30t/?wpam_id=17
mining wholesale website:
https://miningwholesale.eu/?wpam_id=17
submitted by mohamadk to Bitcoin [link] [comments]

DEVCON2 report: Day Three - Final day

previous days
Question: the 3 days of devcon are over. Are people interested in reports on the next 3 days of international Blockchain week (demo day + 2 days of global Blockchain summit) http://www.blockchainweek2016.org
`
Event update
The buzz during the day was around the "stick puzzle" that Bok Khoo was giving out to people. It is just a stick, with a loop of string. He gets you to turn away, he uses "the trick" to put it onto your bag and then you try to get it off.
The WeChat channel was just filled with everyone asking where they can get it, and the screaming that they can't figure it out. Only about 5 people reported they were able to solve it (I haven't yet)
http://imgur.com/mYfJQP4 http://imgur.com/4Euka1a
`
Sessions
I'm biased, but I thought the announcement from Microsoft with the update of cryptlets was a big deal. The morning sessions covered a few different oracle systems, the afternoon had lots of IPFS sessions.
Microsoft - A Lap around Cryptlets
https://azure.microsoft.com/en-us/blog/cryptletsdd/ https://azure.microsoft.com/en-us/documentation/templates/ethereum-consortium-blockchain-network/ https://azure.microsoft.com/en-us/blog/authomarleyg
Microsoft was a sponsor of Devcon1 & 2 Ethereum is a 1st class citizen Support for community & partners - Bizspark, Meetups, Workshops
Announcing: Bletchley v1 Distributed Ledger stack V1 is a private Ethrerum consortium, that you can spin up for your own enterprise / group
http://imgur.com/olwwd36
Cryptlets are being developed to help with security, identity, etc. How do you get trusted external data feeds injected into the Blockchain? Doing things on a specific interval (every 15 mins) When price of something hits a threshold (oil goes above $40/barrel) Secure IP protected algorithms, but still share with blockchain network. Use libraries for common platforms (.Net, Java, etc)
Cryptlets vs Oracle Cryptlets will have a marketplace on Azure that will allow you to purchase and utilise
Use case: Trigger on an event Wake up on 4pm, if market was open that day, then give me the price of gold for that day.Get signature of attested server, attested sender.
Use case: Control Using smart contract like a traditional DB. Declare data you are keeping track of, and the functions/"stored proc" to update that data. Cryptlet runs off chain, and can be scaled up.
http://imgur.com/ysgL8S2
Utility cryptlet. Use an attribute in solidity contract with cryptlet details Developer references at design time the cryptlet they want the contract to call Contract cryptlet, deploy the cryptlet at same time as contract.
Why would you want Azure to do this? SGX allows you to create "secure enclaves", can have complete isolation on the hardware chip where it is not modifable. Provides a secure enclave at the CPU level. Can give full attestation right down to the silicon. Will be provided as a enclave container on Azure. Will be released for .NET core CLR first, then other languages. Can create cryptlet libraries that you can scale and put into the Azure marketplace. An ecosystem for developers & ISVs to consume and publish.
Bletchley v1 released today will let you spin up a private consortium. Before today, it took a long time to try and deploy a private consortium (can take weeks to read doco, Now takes 5 minutes to deploy! Creates a private consortium, puts each member in its own separate subnet
http://imgur.com/w4yUsqE
Mist Vision and Demo I was too busy sharing the release posts of Microsoft project bletchey v1, missed this talk. It did look interesting, I will watch this one later. Idea: Reward for bandwidth. Providing connection could replace mining as entrance point for desktop computers. Allow you to have a trickle so you can trigger smart contracts. Standardised backends, so that you can swap out the underlying node between geth, blockapps, etc.
Web3.js
https://github.com/ethereum/web3.js Etehereum JS API Smart conracts are EVM opcodes, Helps translates calls to JSON RPC calls. Helps do the ABI encoding when sending data from JS to EVM It kept on growing, many different utility functions being thrown in. Is time to clean it up and be refactored.
They are now building a NEW web3.js The communication will be socket based, will enable subscriptions. Everything will be based on promises to subscribe to events, like log events. Bunch of other newer cleaner methods and ways to do things like deploying contracts.
Smart contract security
Was a very good postmorteum of The DAO and things that could be done to mitigate it in the future.
An issue with The DAO was trying to do a massive jump from centralisation all the way to full decentralisation. Meant no one could step up and make a decision on how to save it. We need to make smaller steps towards full decentralisation as we learn as a community how to do this. Same security patterns as yesterday's talks: check invarients, beware 1024 call stack depth, reentry exploit (update state BEFORE executing calls), timestamps are manipulatable. Updateable contracts. Who can update it? Community multisig? We need better rools: formal verification, compiler warnings, improved IDEs, trusted libraries, excape hatches
Conclusion: It is still very early days in this space, be careful.
A Provably Honest Oracle Model: Auditable Offchain Data Gathering & Computations
Oracalize is the most widely used oracle (until everyone starts using Microsoft Azure cryptlets ;-) ) Contract calls Oracalize contract with the data they want, off chain they see this get the data, Oracalise then trigger their contract externally, which does a callback to your contract with the data. Can use external notary servers. Can get proof from multiple external services to get a higher level of confidence about data (e.g. stock price from a few feeds). Off-chain (auditable_ computation) AWS sandbox 2.0. Put the execution package onto IPFS, AWS gets it and executes it, signs it.
iEx.ec: Fully Distributed Cloud Thanks to the Ethereum Blockchain
http://iex.ec/ Provides blockchain based execution environments Global market for computing resources. Idea is to do what we did before with "grid computing" use the idle capacity of computers. But this time do a trickle of micropayments. Allows people to harness this global power to execute their tasks in a global "distributed cloud".
The Final frontier: The company smart conract
http://otonomos.com/ Helping companies to incorporate on the blockchain.
Smart oracles
https://github.com/smartoracles Connecting to external resources is difficult. Hard to try and use external currencies (like a bank account / fiat money) to make transactions. Could hook in paypal, HSBC, wells fargo, etc. Can provide your own payment services as an API to a smart oracle for smart contracts to consume. Do off chain data storage by calling smart oracle API Roadmap: more data sources & more payment methods
IPFS & Ethereum: Updates
https://Ipfs.io IPFS is AMAZING, seriously go watch the full 1 hour talks Juan has given in previous years.
Current web has current issues. Centralisation, etc. IPFS is a new hypermedia transfer protocol Content can be retrieved not from specific servers, but instead via it's hash so that it can come from anywhere in the network (maybe from the person next to you who has cached it). It is highly modular, all of the transfer protocals, routing, naming, etc. are all swapable Is available as GO-IPFS & now JS-IPFS Means now you can run IPFS in the browser IPFS was great for static content, but not so great for dynamic content. Low latency pub/sub protocol will help with dynamic data. Created a distributed peer to peer chat app using this new dynamic content protocol. IPLD a common link-tree hash format Will be able to use IPFS to retrieve ethereum blockchain blocks DIRECTLY Can use IPFS as a package manager to retrieve them in a distributed manner.
Many projects are using Ethereum & IPFS Uport, Digix, Infura, Ujo, Eris, Blockfreight. Filecoin was created as a way to try and incentivize nodes to keep files longer time. People rent out hdd space to earn filecoin. Exchange bitcoin/filecoin. Use filecoin to store files in network. Filecoin is going to be built on top of the public Ethereum blockchain, as a virtual blockchain / token.
IPFS Libp2p & Ethereum networking
Network connectivity between any 2 nodes can be difficult. Censorship, bandwidth, network issues, etc. Having to deal with different networking topologies and access. Libp2p & Devp2p is different. Devp2p is for Ethereum. LIbp2p is modular, can swap out components to change network access, encryption methods, etc. Can build up a MEGA mesh network, by utilising traditional wired internet, radio, bluetooth between some nodes. Web browser using web socket, to a node, which routes across network, to zigbee to a IoT device. Libp2p & Devp2p could merge and augment each other. Could create the libp2p components to replace the devp2p bits Any 2 nodes that speak the same protocol can communicate and be a part of the network chain. Experiment. They took the browser based version of EVM. Then used Libp2p to talk to the Ethereum network. Had a complete ethereum node running in a browser.
Uport
https://uport.me/ Universal identity platform Current challenges: key management. Ux for average person. Dapps via mobile. Identity and data ownership. How do you keep a consistent identity, even if you lose a key. Have some multisig contracts that you can use to keep track. Social recovery, use your friends to attest it is really you. Keep private key on mobile, do transactions on the desktop, scan a QR code to sign the transaction on your phone and send it off.
A Deep Dive into the Colony Foundation Protocol
It is an open source governance protocol built on Ethereum Problem with voting is how to prevent Sybil attacks. Votes are weighted by a reputation score. Reputation is non-transferable that can only be earned. Total weighted voting helps mitigate this.
Chain orchestration tooling & smart contract package management
Eris is tooling for developers. Package manager to build your own blockchain. Can compose a chain, e.g. geth + tendermint consensus. Init, install, do. Can easily install on Mac/bew, linux/apt-get, Windows/choco
The Golem Project: Ethereum-based market for computing power
http://www.golemproject.net/ Anyone can make an offer to sell computing power. e.g. Distributed rendering Want to create a standard framework that anyone can use to submit and process jobs.
Status: Integrating Ethereum Into Our Daily Lives
https://status.im Want to get ethereum everywhere. "Mist for Mobile" Everyone is using their mobile phones for everything, but mostly using instant messaging. What would Ethereum in a IM window look? Created a IM mobile app that has a local geth node. tart up, it asks you to create a password, it generates a pub/private pair. Then can send messages via whisper, and the messages are signed with your public key. Can load Dapps up in the local webview and interact with them. Allows you to create "chat Dapps", that you interact with via text. Like chatbots
Maker Ecosystem Overview
www.Makerdao.com Dai: seeking stability on blockchain. Stablecoin engine: smart contract that holds collateral reserves and controls the Dai lifecycle. MKR: open source community managing risk of the system In the last year, investing in a solid technical core. More slow and audit things. Moving into the next phase of stablecoin development. Their latest project is the "Simplecoin project" Meeting Thereum community's need for stability. An independent platform for creating centrally administered simple stablecoins. Issues create their own rule sets: Collateral types, participant whitelists, security parameters. Example: Shrutebucks. The only people who own it are Dwight, Jim & Pam. They backed it with 1/3 ETH 1/3 DGX 1/3 DUSD.
Orbit. A distributed peer to peer app on IPFS
https://github.com/haadcode Created a full distributed chat room, itself distributed through IPFS. It is integrated with uPort for identification Using uPort allows you to verify that you are talking to the correct person in the chat channel. All their messages are signed with their public keys He also created a full distribited twitter clone, using uport for the identity as well. Orbit-db key value store DB that stores its data on IPFS. Eventually consistent Appends data to the DB, an event is sent to those subscribed on pub/sub so they can see the latest root hash. Based on CRDT Ethereum + Pubsub + CRDTs + IPFS = super power primatives to build dynamic distributed apps
Development considerations with distributed apps. Need to ensure that apps work offline. No centralised servers. No data silos. Provide integration path.
Future work: could you use uPort for ACL like permissions? Mobile use cases, how to make it work nicely on mobiles
Building scalable React Dapp architecture
https://github.com/SilentCicero/react-dapp-boilerplate React + Ethereum He has a configured boilerplate template. Has contract scaffolding. Enforced contract Linting/testing. Wallet generation/identity. Preconfigured web3 instance. UI: Mature react arhitecture "react boilerplate". Prices listed in USD with ETH/btc via kraken api. A basic multi-contract example Dapp. Offline first, dapp runs without internet. Uses Redux. State models in UI & blockchains work well. PostCSS, CSS Modules, sanitize.cs. Redux, immutableJS, reslect, redux-saga, i18n, redux-router. Web3, ethdeploy, dapple, solium, eth-lightwallet, chaithereum, ethereumjs0-testrpc Enforced contract testing in 2 languages.
Ethereum for Enterprise (BlockApps Strato)
Trying to make sure that Ethereum stays relevent to enterprise development. Why do you need a blockchain WITHIN an org, shouldn't they trust each other? Well different departments may not, they may reconcile differently, and can help automate/orchestrate between them. Blockchain is the "killer app" for cloud financial services. Legacy infrastructure, batch prossing, etc are all restricting fintech from progressing. Blockchain can happen in real time, can replace legacy. Ethereum is very flexible and programmable, works well. There are others based on Bitcoin (like Hyperledger). Ethereum + Blockapps = Extreme productivity + Proven Technology. Blockapps is extending Ethereum for Enterprise. Runs very well on Azure Enterprises don't want all their data exposed on public chain. Blockapps helps solve data privacy and scaling with multichain fabrics.
submitted by DavidBurela to ethereum [link] [comments]

Blockchain summit report: Day 1 - "Enterprise cloud"

previous days
`
Event details
Today was day 1 of the 2 day "International Blockchain summit" presentations. On every seat was a little bag that had 3 books about the Blockchain! Unfortunately they were all in Chinese.
http://imgur.com/jmkRYVj http://imgur.com/g66KeRD
`
Presentations summary
Whereas DEVCON2 was all about development, and leveraging the network effects of leveraging other projects in the ecosystem, the presentations today were VERY high level talks.
There was a massive stark difference between "the old guard" in the Fintech space, and the disruptors that are shaking things up.
Take a look at the BOC (Bank of China) and ChinaLedger presentations. They talk about how Distributed computing is dangerous. ChinaLedger go on to say that they need the power to be able to go in and halt transactions, modify smart contracts on the fly, liquidate accounts when they need. While also saying that they will make sure they will do everything to help privacy and use encryption… which only the Government can unlock ("Golden keys"?). It was the most centralised "Blockchain" I have ever heard of.
On the flip side I was inspired by the forward thinking of the Consensys presentation, and their long term vision for where to drive the Ethereum platform. They are helping to create open tools and platforms that will be leveragable by a multitude of projects (as demonstrated with Ujo and BHP project "Rai stones").
http://imgur.com/AXHw1Df
After the Consensys presentation, my 2nd favourite presentation was by Wanxiang labs "10 years to build a city", talking about how they plan on taking some land and creating from scratch a smart city powered by the blockchain and electric vehicles. While the other old guard are squabbling about how it is going to impact their "business as usual" profits, there were the new projects out there envisioning and disrupting.
The BHP presentation was also pretty cool, a great implemenation of using Blockchain to improve a business process.
`
Presentations
New Finance: Technical & Legal rules - BoC He is from bank of China. Entire presentation was him being scared and trying to justify why current Blockchain tech is an unregulated wasteland, and why there needs to be regulation from banks and government.
For Fintech they think Blockchain will not be successful without proper regulations Blockchain finance - it is distributed. Storing all of the transactions will take a lot of storage space. What to do once the transaction rates exceed what can be processed. Thinks that public distributed transactions will not be more than a toy like with Bitcoin. For real FinTech they need something different for a high frequency. Thinks that decentralisation should not be the core feature of Blockchains (due to transaction limit). Thinks it should be decentralised, not distributed.
Should be done with private consortiums. Needs legal rules and technical rules. They think that self rulemaking currencies (Bitcoin) can not be regulated. So need to stop them, to prevent bad things like money laundering. This is showing the loopholes brought about by Bitcoin. So when using digital currencies, they need certifications and tracking.
"We need more regulations and rules to facilitate the healthy development of this space. Only with support of regulations can new technology take off".
Me: I totally disagree… (if not already apparent)
Blockchain futures & realities - CSDC
China Securities Depository and clearinghouse
He was much more open minded and forward looking. Is a pep talk for "things are going to change", how are we going to use these new things. He said that he recorded it into English that should be able to be downloaded, would be worth watching if you are into this space.
Summary: Genie is out of the bottle, we need to embrace this and think how we are going to put the requirements of securities ("real name transactions") in a decentralised way. And the registration and tracking of assets to real names.
People have ideals because they are not happy with reality. Due to this dissatisfaction, people are passionate about trying to make that dream a reality. Need to play by the rules, or the market will be chaos. So now we have facilities law, regulations, etc. This forms the framework of China economic. This is very different from Blockchain. This is at odds to the distributed systems. Seems like we are dissatisfied with this, so trying to reconcile these differences.
All securities transactions need to follow "real name" transactions, but want to do this in a decentralised manner. Market cap is 54 trillion (of something in China). GDP is over 70 million
They are researching Blockchain, but not just in the lab. Need to find potential applications and use cases for it. If we want to implement Blockchain technologies, we need to see what the hurdles will be, so we can get closer to the ideal. As BoC speaker said, the number of transactions per seconds is HUGE. Daily may reach 10s of millions at its peak. How are we going to handle this with a theoretical framework. Need to start from the reality of China. And the reality is it is a giant country with a huge population, which depends on the capital market. If you just implement within a lab it is okay. But if it is going to be put into the industry, then we need to work with the government. We can't just get rid of the government, it is impossible (REVOLUTION!!). So need to focus on key senarios to tackle, as you can't just apply Blockchain everywhere simultaneously. Or all your efforts will fruitless. How to complement it initially, not replace it.
Ten years efforts to build a city (Wanxiang Labs)
Me: I reallly liked this presentation. I've been keeping notes for months around building this type of innovative city in Australia. I plan on rewatching this one again later.
Going to build a city in 10 years. An energy gathering city in HangZhou 10KM2. Their US company is starting to build new energy vehicle. 900m RMB? 90k people. Deploy the city into the cloud. Intelligent life, traffic & services. Everything will be connected. IoT, Internet, smart living, smart transport. Once this is successful, they plan on launching it across the world. Will publish their learnings. Launching incubators and accelerators. Their own cloud Blockchain as a Service. Many scenarios in this smart city that could utilise Blockchain. Distribution for Solar power. ID & Vehicle registration. Intelligent community services. Can promote a sharing economy throughout the community. Partnering with Microsoft, IBM, Consensys, Ethereum foundation, WeBank, AliCloud
Vitalik Buterin keynote
Talking of the progress China has made in Blockchain innovation in such a short period of time. He visited China 3 years ago and visited a number of Bitcoin companies and was impressed on the scale of what China had, much more than what was happening in USA. But all the focus was just on cryptocurrencies, not Blockchain technologies, Just mining. 2nd time, he saw some kind of experimentation happening with interesting things (like coloured coins?) 3rd time saw more interest in Blockchains. 4th? time, he did a hackathon with Wanxiang labs (event sponsor), and there were ~30 projects. The growth since then has been rapidly growing. The scale of projects we couldn't have imagined 3 years ago. Was just theoretical, now a lot of ideas are almost reality. e.g. Self-sovereign identity, instant settlement.
Hyperledger
https://www.hyperledger.org/ Goals. Build an opensource dev focused community of communities to build a hyperledger based solution. Create a family of "etnerprise grade" open source blockchain framework, platform & libraries.
Because it is an enterprise opensource project, they need to track contributions, patent details, etc. Is part of the Linux Foundation, which has 16 years of providing governance stucture support for major open source projects. 80 project partners. IBM, Intel, Accenture, JP Morgan, Airbus, ANZ bank, Cisco, etc. 20 of the 80 project partners, are based in China. Apache license v2.
A world or many chains. There will not be only one blockchain. There will be many public chians and millions of private chains. Each may use different consensus mechanisms.
Major projects are: Fabric: Developed by IBM. PBFT, moving to Raft and other pluggable consensus mechanisms. Written in Go. Sawtooth Lake: Proof of Elapsed Time. Runs on secure enclaves. Written in Python. Hyperledger explorer: GUI for navigating Fabric & swatooth lake. Fabric-py SDK. (Java proposed later).
Future: Smart contract engines. Portable identities. Will never see a "HyperCoin". It is about making Hyperledger a standard, and a governance group.
IBM keynote - IBM Blockchain & Hyperledger
Today if you want to do something in your business on Blockchain it is difficult. Hard to scale, issues with privacy. No Enterprise support. Need tools to write tests for smart contracts. Need good solution patterns. Difficult to scale up, especially around transaction rates.
Built Fabric to support "serious business" Permissioned blockchains can't scale. Every node shouldn't execute every transaction. The 2 peers that are interacting are the only ones that should execute. IBM has implemented this internally to resolve invoice disputes with their suppliers.
IBM
All the slides were in Chinese. Difficult to follow unfortuantely. The (original) Silk Road was important for trade. Blockchain may be just as important for trade in the future People are debating the need of distributed systems being an important thing of Blockchains, is it really necessiary? Blockchain should instead be focused on unblocking instead. IBM will provide an IBM certified docker container. IBM Blockchain. http://www-31.ibm.com/ibm/cn/blockchain/index.html Has a concept of a "shadow chain"?
Blockchain Platform @ Microsoft
At Devcon1 Microsoft announced Blockchain as a Service. Rolled out DevTest Labs to allow you to spin up public, private, permissioned, and consotrium blockchians quickly. Provisoin with 1 click. Mix & match from best available blockchain tech.
Bletchley: Open infrastructure, Enterprise capabilities. Microsoft is not building their own Blockchain.
Blockchain has some missing parts (identity, privacy, key management lifecycle, tools). Asked our partners what are the missing parts. A database in itself isn't an application.
(re)Announcing: Bletchley v1. 2 parts. Distributed infrastructure layer (Blockapps, R3, bitpay, parity, Eris). There isn't going to be 1 Blockchain to rule them all, so allow you to leverage any of them. Lots of customers were taking a long time trying to spin up private consortiums, and trying to secure them correctly. Used to take 3 weeks, now down to 8 questions and 5 minutes. Spins up a private Ethereum consortium. 4-100s of nodes.
Distributed middleware "fabric" layer. Tools that can work across many blockchain technologies. Cryptlets are a way of doing offchain processing. Receive market data based on an event (market price daily closing, CRM event). Need to have trusted execution of the logic, to attest that it was not tampered with. Secure IP protected algorithms. Scale an algorithm for max performance by running it off blockchain in a secure & attested way in the cloud. Oracles may be malicious, or they may be intercepted during transmission. Cryptlets run on a secure host with a secure communication channel in a trust envelope. Marketplace for publishing the cryptlets into a market for others to consume. Azure cloud is twice the size of Amazon & Google COMBINED.
Bletchley Cryptlet Fabric. Supports Ethereum, will support more Blockchains. It is middleware that will support many. Secure execution on demand. Standard way of publishing and accessing external resources.
BaaS roadmap. DevTest labs, will continue to onboard more. Bletchley v1. Kinakuta to help improve security. Bletchley SDK
Longer range implications of Ethereum & other decentralising technologies (Consensys) LOVED this presentation.
Simplest view: Next gen database. Blockchain based, maximal replication, Prevents rogue actors Force for universal disintermediation, will distrupt every industry. Previously it was mostly just Bitcoin. Future projects were "BitCoin 2.0", instead of "Blockchain 2.0". So Ethereum project built the most powerful and capable Blockchain platform, both public (permisionless) and private (permissioned) Deeply secure, non-repudiable shared source of truth. Dapp is a set of smart contracts. And a user interface to interact with it. Was important to get an initial version of Ethereum out into the hands of devs, to start thinking how to start building decentralised applications. Ethereum has a vision for scalability, which includes sharding and state channels. Privacy, state channels is one option. Zcash/zk-Snarks is another way.
Currently building out an ecosystem of decentralised applications. Building core components: Identity/persona (uPort, metamask). Wallet (uPort wallet). Registries (Regis, ENS). Token Factory. Do private enterprise Blockchains make sense? Yes, large entities can have a complex internal mix of business units, having a shared source of truth can help. If enterprises have their own private consortium Blockchains, will be a harder target to infiltrate and modify databases. Business processes emboided as state transition graphs.
If you plan on building your own tools or technology on top of Blockchain tech (public or private), build it on Ethereum so it can be reused in many different places by other entities running their private chains Developed "Balance" for real time compliance, accounting auditing and monitoring. Real time dashboard for companies & regulators. Organisations using certified software wil not be able to break or bend any financial accounting rules.
The Blockchain will last for years or decades giving a persistent database. Gives a chance to do persistent portable identity. uPort self-sovereign identity.
Blockapps Announcement
Is Ethereum for Enterprise. Partnered with Microsoft to announce Blockchain as a Service (BaaS). Over 1k projects have used it, over 300 customers. Being released in Azure China datacentre (mooncake), and other Chinese clouds : Alibaba cloud, tencent cloud, Wancloud. Initial China projects: Minsheng insurance, Wanxiang smart city, Qianhai smart city, Shanghai smart city. China is going to be the country leading the world in Blockchain projects.
The Rise of Blockchain Consortia: Uniting the Banking World
One of the largest banks in Spain. Banks are just a ledger (a very large ledger). Each bank has its own ledger. They don't trust each others. Which is why you need clearing houses and things like this. What if there was a shared ledger trusted by all banks. "It's not about the coin, its about the ledger.
`
New development of ChinaLedger: Forging a powerful tool for Chinese capital market in the FinTech era
Was literally the most centralised blockchain I have ever heard of. Please excuse me as I rant inline.
ChinaLedger is a consortium. 11 founders established it. Chinese financial institutions and Wanxiang labs. "we created our own Blockchain and tools". Will come up with their own custom software and implementation. Will create a whitepaper and create reference architecture. Partners will use the network to do transactions. Need facilities to be able to freeze or take over acounts, and get access to all data. A need to be able to halt or freeze a transaction or smart contract. A need to be able to halt or freeze a transaction or smart contract. and the facility to liquidate an account or smart conract or manually change the state of a smart contract We need to be able to stop the trading of certain stocks. Let regulators control things. Will be fully in control of the gas. Wants to support 100k/s and 1 ms latency.
Then ironically says tries to say they are going to put privacy into this. "Everything will be encrypted and private. Except that CCP & regulators who will have ability to read everything". I'm SURE that won't be abused…
http://imgur.com/Qt4qh3O You keep using that word... Blockchain, distributed ledger, privacy, encryption
Re-imagining Global Payments (For business)
Banks make a LOT of money from bank wires. So they have no incentive to come up with anything better. The person sending the money needs to give 26 pieces of information. Don't know when you'll get the money, what the rate will be. About $20 to send, $20 to receive, plus lose a few percentage through the conversion.
Their solution (for business payments). Register for an account, can use online. No fees. Transparent FX rate. Can track the payment. Uses Bitcoin in the middle. Before international calls used to call many $s per minute. Now with VoIP (Skype) you can do it for cents. Same thing will happen to international money transfers.
Enabling Global P2P Cash Transfers with Abra (For consumer)
https://www.goabra.com/ http://www.coindesk.com/abra-remittance-app-us-launch/
Nowadays you can send an IM to anyone else in the world instantly for free. Why can't you do the same thing with money? Can do it locally in some domestic markets, like paytm (india, WeChat pay (China), mpesa (Africa). But not for cross border transactions. iOS & Android. Real digital cash wallet. Send & receive globally. No FX risk. Add cash via bank or in person. As private as paper cash. Abra tellers earn $$ (as a percentage fee). The wallet is stored locally on the phone. So you "physically" control it. (need to back up your private key). Use an Abra teller (someone else using the app) to exchange buy/sell cash for digital cash. Anyone can be a teller. Tellers charge a fee. Teller & user rate each other. When 2 people send money each other via Abra, happens instantly, . No FX volatility.
Awaking the Sleeping Giant: The Natural Resource Industry and the Blockchain
Note: Hispresentation was in English, but I thought it was extremely considerate that he had his slides translated into Chinese as well. Every slide had simultaneous English & Chinese descriptions so that the attendees using the live translation headsets could follow along easier. If I ever present in another country again, I'll try and plan ahead like he did. Was very thoughtful.
Why is BHP interested in the Blockchain? They are the largest mining company in the world (natural resources mining, not Bitcoin mining. Hehe) They are a global distributed organisation. So a distributed Blockchain
Project Rai Stones. Sample tracking of geological samples. They are highly valuable resources. Some of the wells cost $100M, and you only get 1 chance to take the sample. They currently only track the samples manually through emails & spreadsheets. They are working with Consensys & Blockapps. Runs on Ethereum & IPFS, on top of Microsoft Azure. 1 node at BHP, 1 at their collaborator, 1 at their regulator. 3 roles in the business flow, BHP out in the field, the analysis team, and BHP corp. They create/register a smart contract on the network for each sample. When the person collects the sample, they go to the dashboard, click the checkboxes to say they acquired, that updates the smart contract. They ship it off, so they put in the details of which analysis office it is being sent to, updates state from collected to shipped. Analysis team can log in, see what samples are in transit to them to be analysed. They receive it, give it a unique Id based on their internal process. They get trusted tracking of samples, and real time updates.
What if they could automatically operate machines, they could help avoid bad combinations of machines operating at the same time. Like a crane operating on an oil rig, when a helicopter is coming in. Disable a piece of machinery if it is past its allowed usage before routine preventative maintenance. Disabled until it is tested, and certified as okay on the Blockchain. Stop unqualified people from using a tool or vehicle.
Ore gets mined and put onto shipping freighters. Need to track Provenance, custodians, entire supply chain.
Need to give regulatory data to the regulators in each country the operate in. All the mines in the industry need to submit this public data to gov, it all gets aggregated, and disseminated. But it costs HEAPS to do this. What if they built a consortium chain. They can all publish the public data, ready to be analysed instantly by peers. Could make the entire industry more effienct and transparent by making the consortium not just for the 1 country, but a public one. Give a global transparent view of the entire industry. Would help drop costs of compliance.
They started on Ethereum Mainnet & Testnet. Now they are seeing the emergence of many private chains. They will see the bridging between chains. Seen that Ethereum plans on sharding (many chains). Forsees that there will be a global mesh of these Public & Private chains all supporting each other.
Cotricity – “a prosumer to business”- virtual energy market on the Ethereum blockchain (Consensys)
https://co-tricity.com Energy meets Blockchain Joint venture between Consensys & an energy company in Germany. Energy sector is changing rapidly. Prosumer is someone with generative capacity (eg. Solar panels & battery storage). Normal smart meter collects usage about production & consumption. Tracked on Ethereum. Matches up Prosumers to local community things like Schools. The local environmental and economic benefits of keeping it in the local community.
Mechanism design, "reverse game theory". Goal is to effectiveise the energy market and reduce costs. Means creating incentives such that the optimal strategy for every participant results in the realisation of this goal. e.g. Help to smooth out the peak in the morning, give a small reward for not using energy in the morning
submitted by DavidBurela to ethereum [link] [comments]

The right time to by this blockchain stock (TSX.V LTV)

TL;DR version:
LeoNovus is a provider of solutions to cloud data storage using blockchain technology. It was included as a major underlying component in a recently launched blockchain ETF. Blockchain stocks are all the hype, but LTV actually has solid fundamentals. It currently has projects with government of Canada, large Canadian bank, and a Canadian college. It is currently on a hot hiring spree for more software engineers as it vamps up its platform and take up more projects (just google LeoNovus careers). For more info on their recent accomplishments, check out the list on the bottom! If you want to invest in blockchain companies without trading cryptos, LTV is one of your best bets!
Long version:
A year ago today, bitcoin was at $1025USD, ethereum was at $11.3USD, NEO was not even a thing… Even with the current crypto market sell off, if you have bought bitcoin and ethereum a year ago, you are still up 580% and 5800% on your investments, respectively. However, don’t beat yourself too hard if you have missed the crypto rally. There are still other opportunities, namely the rise of the blockchain technology.
You may wonder isn’t betting on cryptocurrencies the same as betting on blockchain technologies. Not really. Why?
1) Not every blockchain needs a native currency. There are two types of blockchain – public and private. The difference between public and private blockchains is similar to the differences between Internet and intranet. The Internet is an open public space that anyone can tap into, while an intranet is designed to be a private space. Both bitcoin and ethereum are public blockchains. All transactions on a blockchain must be validated and embedded in data blocks, which essentially form the blockchain. Since the creators of public blockchains likely do not have the processing capabilities to handle all the transactions alone, miners step in. Miners on public blockchains need a reward for verifying transactions, therefore, cryptocurrencies are necessary for the operations of public blockchains. On the other hand, private blockchains are internal networks that are tightly controlled and do not require the need for a robust network of miners to verify transactions/blocks. Private blockchains are primarily used for business application where access to the chain is limited to certain parties. Cryptocurrencies are not a necessary component for most private blockchains.
2) Regulators are keeping their eyes close to cryptocurrencies and are trying to regulate them. However, they have shown very supportive attitude towards the development of blockchain technologies. At this point, the consensus view is that: at some point down the road, blockchain will revolutionize part of, if not the whole, society. Regulators may frown upon cryptocurrencies given their speculative nature, but they have also come to realize that they cannot afford not to embrace blockchain technologies. In December 2017, Janet Yellen called bitcoin as a “highly speculative asset”. As to a government-issued digital currencies, she commented ”While we’re looking at research on this topic, there are, I think to my mind, limited benefits from introducing it, a limited need for it and some substantial concerns.” Blockchain technologies have definitely started being adopted across multiple departments in the US government. The U.S. Army Medical Research and Materiel Command, The Department of Defense Transportation Command, The Food & Drug Administration all have issued notices saying they would looking into potential application of blockchain technologies.
Why should you invest in blockchain technology stocks?
1) Blockchain technology is not a fad. Many of the applications have passed the proof-of-concept stage, and started being adopted for social and business uses.
2) It is investing in the next “big thing”. Talking about blockchain today is like talking about the Internet back in the 90s – it is just difficult for people to imagine its specific applications. But most of us can see it being broadly applied.
3) Unlike cryptocurrencies which are highly speculative, the development of blockchain technology has its fundamentals. So far, it has been hard if not impossible to time all the cryptocurrencies. On the other hand, investing in blockchain stocks comes down to understanding applications of the technology and evaluating businesses, which can be much more predictable.
4) You may say, well, a lot of this blockchain stocks sell off when the cryptocurrency market melts. True. But investors panicking over their blockchain stock holdings when the cryptocurrencies are down just indicates how naïve those investors are – they look at blockchain stocks as another way to profit on cryptocurrencies, which is totally wrong. And if anything, it means opportunities for better educated investors.
5) Opportunities are yet to come. The realm of public blockchains and their native assets is most relevant to the innovative investor at this stage. Private blockchains have not yield an entirely new asset class that is investable to the public. However, with the rise of blockchain technology, I believe this will come, and it will create new investment opportunities.
That being said, don’t just throw your money into any start-up companies that have the word "blockchain" in their names. There are a ton of garbage stocks out there doing nothing in blockchain and just waiting to monetize on stockholders’ hard-earned money.
Investing in blockchain technology stocks is no easy task, it requires a lot of due diligence. One of the most basic questions investors need to ask is: Does the blockchain technology project make sense? This applies to both public and private blockchains. For example, STEEM is a public blockchain many investors are familiar with (Currently, it is among the top 20 cryptocurrencies in terms of market cap.) STEEM aims to offer a blockchain-based social media platform, where users can earn rewards through activities such as posting. But, think for a second. Do we need a decentralized Facebook? If not, well, this is exactly what STEEM does. This spells out the biggest challenge many investors face. We all agree that blockchain will become a big thing, but not every company needs to get on a blockchain and not every company will benefit from a decentralized system. Unless the management actually understands blockchain technology and how their company in particular will benefit from it, many of their new initiative on blockchain could just be noise. And it is investors' job to filter through it.
Moreover, don’t expect a 200% return on your blockchain technology stocks in a year if you invest in the companies like Intel, Amazon or Walmart. I get it, all of the giants have said they are engaging in blockchain, and I believe they have the ability to come up with interesting things. But how much of they company earnings will be driven by the blockchain initiatives? And what’s the fraction of that will be translated into their stock prices? Tiny, probably.
So, after all this talk, here is one stock I like a lot - LeoNovus (TSX.V: LTV). I have been following the stock for four months now. The company has undergone rapid growth in the one year time since it launched its first product. The company is offering specific solutions to cloud data storage using blockchain technology - this project has broad applications; and cloud data storage can be truly made more secure yet accessible with blockchain technology. On the technical front, LTV is partnering with DTL Labs, the company behind Enterprise Ethereum, IBM’s Fabric, R3’s Corda, and JP Morgan’s Quorum. On the application front, LTV has signed contracts with the Government of Canada, one of the Canadian leading banks, a leading Canadian college, and a global healthcare data provider to install their platform. As a start-up company that only started selling its products less than a year ago, these are significant achievements. The stock has been recently sold off a lot with the broader crypto sell off, even on the backdrop of great new developments. To me this is a buying opportunity.
For more details on the company, keep reading...
Leonovus is a blockchain-hardened software-defined cloud storage solutions provider for enterprise. Their patented algorithms virtualize, transform, slice and disperse data across a network of on-premises, hybrid or multi-cloud storage nodes, which allows for secure object-based data storage that across the entire solution. The architecture is designed to minimize latency, optimize availability, reduce remote backup costs and meet data sovereignty requirements.
They have strong management team! I dug in on their employees profile and found most of them have strong IT architecture and software background, this is especially true for those who at the top of the company structure. So many of the start-up blockchain companies are ran by people in the financial industry. Well, no offense, as I am also one of the capital market employees, but really, how much do we actually know about the technicals to develop a great blockchain project. Very little I would say.
Leonovus launched its first product at the beginning of 2017. Within one year, the company has undergone rapid growth in product development, sales, as well as partnership. Here is a timeline of major events: January 10, 2017 - Leonovus launched its software-defined object storage solution solving security and compliance requirements for enterprise cloud storage. The solution is designed to bring enterprise cloud users an increased level of data security, recoverability and compliance across any combination of cloud storage solutions. The solution is hardware and software agnostic, which cuts implementation costs for enterprise. As an Oracle Gold Cloud Partner, Leonovus complements Oracle’s storage solution offerings by bringing GRC (governance, risk management and compliance) to Oracle’s IaaS (Infrastructure as a Service) cloud storage solutions and providing a foundation for enhanced GRC in all of Oracle’s cloud PaaS (Platform as a Service) and SaaS (Software as a Service) solutions.
January 30, 2017 - The software-defined object storage solution is in trials by one of the largest public colleges in North America to ensure its sensitive data meets compliance standards and remains secure within the cloud. Leonovus will begin with the institution’s multi-cloud environment in late February 2017, with the potential of being implemented into the other 24 post-secondary schools within its peer network over the next 24 months.
June 21, 2017 - The new product, Leonovus 365, targets the installed base of 89 million Microsoft 365 users. It provides Microsoft 365 with advanced security and compliance features, and it can pool the cloud storage from all the OneDrive licenses into one managed cloud storage instance. Users are able to achieve advanced collaboration in Leonovus 365.
September 26, 2017 - Leonovus announced enhancements to its existing data storage solution via the integration of blockchain technology. The company’s core technologies offer scalable distributed data storage with improved security, governance, and compliance while reducing costs, risk and providing additional defense against cybersecurity threats. The utilization of blockchain technology further enhances its effectiveness. The company’s previous adoption of blockchain technologies:
1st - In 2014, the company produced and deployed a managed, loosely-coupled blockchain computation pool built from available idle resources. The system managed both public and private blockchain computation on thousands of low/no-cost computing cores across North America with only a few clicks of a mouse from a browser-based dashboard.
2nd - In 2014, the company leveraged its proprietary distributed computing technology to mine digital currency from low-end distributed devices.
October 4, 2017 - Leonovus partnered with DLT Labs to accelerate the engineering of the blockchain components of the storage solution. DLT Labs is a global leader in implementing permissioned and non-permissioned blockchain solutions for enterprises. The Lab has extensive enterprise experience and expertise with all distributed ledgeblockchain technologies including Enterprise Ethereum, IBM’s Fabric, R3’s Corda, JP Morgan’s Quorum, and etc.. During one interview with DLT Labs, they expressed firm belief that Leonovus would continue market leadership in the field.
October 23, 2017 - Leonovus signed a proof of concept agreement with one of Canada’s “big six” banks (For those who live in the U.S., Canadian banking sector is entirely dominated by the six biggest banks, and there are not regional banks.) Leonovus will install its blockchain-hardened software to assist the bank in developing a multi-site data storage management fabric with data security, performance and compliance metrics that meet the bank’s data governance policies. Leonovus will also help the bank to leverage and maximize its current storage assets to form a secure and compliant private cloud storage network that will dramatically reduce data storage costs while increasing data security.
November 3, 2017 - Leonovus signed a proof of concept agreement with a global health data services company. This project will help deliver an improved user experience to the 20,000 Citrix users. This project came from the challenge that data may reside in different geographical business zones. As such a business user who lives in the North American Zone may have to log in and pull a file back from the European Zone. Due to inter-continental latencies, pulling in data from another geographic zone provides the end user with a poor experience, causing frustration and potential delays. Leonovus blockchain-hardened can be the solution to this problem.
January 24, 2017 - After four months of technical and market evaluation by the Government of Canada (GOC), Leonovus is pre-qualified to receive up to $500,000 purchase order from the GOC. The next step is to choose the sponsoring GOC department. There is potential for three additional $500,000 purchase orders in 2018, paid from departmental budgets.
Other than the above-mentioned breakthroughs, Leonovus has committed to many new partnerships with established companies in IT infrastructure services, cyber security, and data providers, to further access the total market for the technology. These companies include: ZoneTI (Canada-based), Snowy River International (Canada-based), Storage Made Easy (UK-based), FlexTy Solutions Inc. (Canada-based), ApexIT (US-based).
Back in June 2017, Leonovus has started to follow Cryptographic Module Validation Program (CMVP), which is a joint American and Canadian security accreditation program for cryptographic modules. The program is for vendors who seek to have their products certified for use by the U.S./Canadian Government and regulated industries that collect, store, transfer, share and disseminate "sensitive, but not classified" information. The certification process is expected to be completed in eight to twelve months. This will help broaden the use of Leonovus’ products.
Last but probably the best point to buy LTV today is...
A momentum trade is also likely to push LTV stock higher tomorrow. The very first Canadian blockchain technology ETF (TSX: HBLK) is about to start trading on Feb 7th, 2018. LTV has a significant weight in the ETF portfolio. Given the high demand in blockchain ETFs, I expect the ETF will start trading with high buying volume. For each unit of the ETF sold, the ETF provider needs to go buy the corresponding number of underlying stocks to back it up. For emerging companies such as LTV, if the ETF has high trading volume, it will definitely drive up the demand for the stocks. Just to give you a rough measure. When the first marijuana ETF (TSX: HMMJ) hit the Canadian market back in April 2017, we witness some smaller names in the portfolio getting pushed up 20% in the week following the launch. And HMMJ marked the top net inflow ETF in Canada in 2017.
submitted by timethcaper to CanadianInvestor [link] [comments]

Introducing KAMBRIA - A Platform that Fuels Robotics & AI Future

KAMBRIA - Fueling the Robotics & AI Future
Overview
Our mission is to accelerate the process of robotics innovation, enabling faster, cheaper, and easier robotics development and adoption by everyone.
In order to achieve this vision, we are contributing our robot Ohmni, consisting of a robotics repository, high level behavioral library, and modular components as the basis for an open robotics innovation platform.
We named the platform Kambria, after the Cambrian Explosion, 500 million years ago, when an accelerated evolutionary rate gave rise to biodiversity and abundance. We believe this platform will be the catalyst for a similar explosion in Robotics.
Technology
The Kambria Architecture is made up of five pillars: Codebase (KDNA), innovation marketplace, the manufacturing alliance, value capture, and legal protection. Each directly addresses the shortfalls of modern robotics and is designed to maximize the game theoretic incentives.
Interactions on the platform are facilitated by the Kambria Token (KAT), Maker Credit, and Kambria Karma. KAT is a native ERC20 utility token. Its main functions are to enable access to the Kambria platform, reward participation, and align incentives for all stakeholders in the ecosystem. As with any ERC20, KAT will be listed on exchanges and can be traded for other cryptocurrencies.
Maker Credit and Kambria Karma are not ERC20 tokens, but rather non-tradeable ledger entries for every wallet address. Karma is used to track actual work performed. It is also an incentive to promote useful work and is awarded for concrete contributions. Credit is similar to reward point or "cash back”. Its purpose is to stimulate transactions and spendings in the ecosystem.
Users Benefit from Kambria Increase innovation rate Large scale reuse and sharing of technology can reduce costs and make robots more affordable Robotics technology as a social good, accessible to everyone
Token Holder Perks Program
A large community of roboticists together is valuable resource. Based on this, the Kambria Foundation will negotiate and manage a perks program for all token holders, such as discounted access to makerspaces, coworking spaces, or parts/tools/supplies.
To participate in the program, you only need to hold a minimum of one KAT in a wallet and be able to validate ownership of that wallet. Subsequent tiers ($500+, etc.) will give you access to additional perks/discounts as the Foundation negotiate them. More details will be announced in the future.
Phases and Milestones
January 2018 - May 2018: Kambria Alpha Deploy key smart contracts on testnet. Have GitHub repos linkable to the testnet contracts. Open up OhmniLabs’ 3d printing and waterjet aluminum processes to ensure KDNA orders are fabricated into real world parts as fast as possible. Work with roboticists and groups around the world to start sharing KDNA and evolving the tools and processes as needed. Ohmni robots available to order as a base platform. Continue building out APIs and SDKs based on needs and engage other roboticists in guiding the development. Start initial bounties for add-ons, enhancements and other valuable technology contributions to Kambria. These may start off-chain and move to on-chain once the smart contracts are ready.
June 2018 - December 2018: Kambria Beta Open up smart contracts on mainnet. Open up major subcomponents of Ohmni with appropriate licensing transferred from OhmniLabs. Motor drives, touchscreen and display, USB, embedded system, battery charging, vision algorithms, etc. Be able to view these pieces (and those contributed by others) in the code base and remix/work on integrating them into new forms. Collaborate with other teams on demos showing what can be created. Receive real KDNA or fiat orders for these parts on the main chain and send back completed parts. Issue some initial real bounties on mainnet and start bringing the new technology into Kambria codebase for all to share.
Q1 2019: Full release Full release of Ohmni in the Kambria codebase. Entire KDNA and open for full remixing. All bounty systems and Dapps active, released, and usable.
Team
Thuc Vu - Co-Founder, CEO Thuc is a serial entrepreneur, with multiple company acquisitions, the last one by Google. He has deep expertise in game theory, tournament design and multi-agent systems. He earned his PhD from Stanford and BS from Carnegie Mellon, both in computer science. Thuc is a social entrepreneur in Vietnam, involved in several community projects.
Jared Go - Co-Founder, CTO Jared is an avid maker and roboticist, previously CTO and founding member at a networks startup. He has an extensive experience in blockchain, AI, real-time graphics, VR, mechanical engineering and electrical engineering. Jared is a Stanford Graduate Fellow, and has a BS in computer science from Carnegie Mellon University.
Tingxi Tan - Co-Founder Tingxi has a background in cloud computing, network infrastructure and distributed system design. He has been active in Crypto Investment since 2010. He was responsible for building the global scale cloud infrastructure at a networks startup. He graduated from MSc Computer Science U of Calgary and BSc Applied Math Western University.
Manuela Veloso - AI & Robotics Manuela Veloso is the Herbert A. Simon University Professor in the School of Computer Science at Carnegie Mellon University. She was the President of AAAI (Association for the Advancement of Artificial Intelligence) until 2014, and the co-founder and a Past President of the RoboCup Federation. She is a fellow of AAAI, IEEE, AAAS, and ACM. She is an international expert in artificial intelligence and robotics.
Dhana Pawar - Marketing Dhana Pawar is seasoned business and product management executive. Launched award winning, innovative products with an emphasis on delighting consumers. She has led teams to develop compelling applications which led to strategic acquisitions and mergers. Her other expertise include product management, product strategy, end to end product development and partnerships.
Ned Semonite - Partnerships Ned Semonite brings a wealth of experience as a seasoned product and marketing professional with over 25 years of experience in bringing innovative hi-tech products and services to enterprise and consumer markets. Mr. Semonite contributed significantly to the development of the videoconferencing industry. In his various past leadership roles, Ned worked to sign and develop telco channel partners, then rose through the organizations in a series of management roles including VP of product management, VP of engineering and EVP of worldwide marketing.
Advisory Board
Simon Seojoon Kim - Hashed Simon Seojoon Kim is CEO and founding partner of Hashed, a leading crypto fund based in South Korea. He is a Blockchain evangelist and organizer of Hashed Lounge, a premier Blockchain Seoul meetup community. Prior to Hashed, Simon was a serial entrepreneur and has co-founded numerous companies. He served as Chief Product Officer at Knowre, an ed-tech startup that was named one of World's Top 10 Most Innovative Companies in Education by Fast Company.
Loi Luu - Kyber Network Loi Luu is a researcher working on cryptocurrencies, smart contract security and distributed consensus algorithms. He is also a regular invited speaker at Bitcoin and Ethereum workshops such as DevCon2, EDCON. Loi believes in the force of the Ethereum and Blockchain technology. Much of his work revolves around this community. He developed Oyente, the first open-source security analyzer for Ethereum smart contracts. Loi also cofounded SmartPool, another open source project which embraces decentralization of mining pools in existing cryptocurrency. He continues to champion decentralisation and trustless properties of the Blockchain with KyberNetwork, taking inspiration and developing value for the community.
Karen Hsu - Blockcypher Karen Hsu is the Head of Growth at BlockCypher. With over 20 years of experience in software applications and infrastructure, Karen is co-inventor for four patents and worked in a variety of engineering, marketing, and sales roles. At Siebel System, Informatica, Datameer and SugarCRM, she has led teams to bring new products to market. She has also worked closely with financial standards organizations, such as SWIFT, ACORD, and FpML.
George Li - Wetrust George is an ex-Googler who previously co-founded CottonBrew, a Stanford StartX computer vision company. Prior, he held roles in Corporate Strategy and Infrastructure at Google, and was a consultant at McKinsey. He holds a M.S in Management Science Engineering from Stanford and B.S. in Electrical and Computer Eng from Rutgers.
Partners
Carnergie Mellon University Intel RealSense Technology Humana AUTODESK Genesis Healthcare System Nanyang Technology University Stanford University
submitted by KambriaIO to KambriaIO [link] [comments]

The right time to by this blockchain stock (TSX.V LTV)

TL;DR version:
LeoNovus is a provider of solutions to cloud data storage using blockchain technology. It was included as a major underlying component in a recently launched blockchain ETF. Blockchain stocks are all the hype, but LTV actually has solid fundamentals. It currently has projects with government of Canada, large Canadian bank, and a Canadian college. It is currently on a hot hiring spree for more software engineers as it vamps up its platform and take up more projects (just google LeoNovus careers). For more info on their recent accomplishments, check out the list on the bottom! If you want to invest in blockchain companies without trading cryptos, LTV is one of your best bets!
Long version:
A year ago today, bitcoin was at $1025USD, ethereum was at $11.3USD, NEO was not even a thing… Even with the current crypto market sell off, if you have bought bitcoin and ethereum a year ago, you are still up 580% and 5800% on your investments, respectively. However, don’t beat yourself too hard if you have missed the crypto rally. There are still other opportunities, namely the rise of the blockchain technology.
You may wonder isn’t betting on cryptocurrencies the same as betting on blockchain technologies. Not really. Why?
1) Not every blockchain needs a native currency. There are two types of blockchain – public and private. The difference between public and private blockchains is similar to the differences between Internet and intranet. The Internet is an open public space that anyone can tap into, while an intranet is designed to be a private space. Both bitcoin and ethereum are public blockchains. All transactions on a blockchain must be validated and embedded in data blocks, which essentially form the blockchain. Since the creators of public blockchains likely do not have the processing capabilities to handle all the transactions alone, miners step in. Miners on public blockchains need a reward for verifying transactions, therefore, cryptocurrencies are necessary for the operations of public blockchains. On the other hand, private blockchains are internal networks that are tightly controlled and do not require the need for a robust network of miners to verify transactions/blocks. Private blockchains are primarily used for business application where access to the chain is limited to certain parties. Cryptocurrencies are not a necessary component for most private blockchains.
2) Regulators are keeping their eyes close to cryptocurrencies and are trying to regulate them. However, they have shown very supportive attitude towards the development of blockchain technologies. At this point, the consensus view is that: at some point down the road, blockchain will revolutionize part of, if not the whole, society. Regulators may frown upon cryptocurrencies given their speculative nature, but they have also come to realize that they cannot afford not to embrace blockchain technologies. In December 2017, Janet Yellen called bitcoin as a “highly speculative asset”. As to a government-issued digital currencies, she commented ”While we’re looking at research on this topic, there are, I think to my mind, limited benefits from introducing it, a limited need for it and some substantial concerns.” Blockchain technologies have definitely started being adopted across multiple departments in the US government. The U.S. Army Medical Research and Materiel Command, The Department of Defense Transportation Command, The Food & Drug Administration all have issued notices saying they would looking into potential application of blockchain technologies.
Why should you invest in blockchain technology stocks?
1) Blockchain technology is not a fad. Many of the applications have passed the proof-of-concept stage, and started being adopted for social and business uses.
2) It is investing in the next “big thing”. Talking about blockchain today is like talking about the Internet back in the 90s – it is just difficult for people to imagine its specific applications. But most of us can see it being broadly applied.
3) Unlike cryptocurrencies which are highly speculative, the development of blockchain technology has its fundamentals. So far, it has been hard if not impossible to time all the cryptocurrencies. On the other hand, investing in blockchain stocks comes down to understanding applications of the technology and evaluating businesses, which can be much more predictable.
4) You may say, well, a lot of this blockchain stocks sell off when the cryptocurrency market melts. True. But investors panicking over their blockchain stock holdings when the cryptocurrencies are down just indicates how naïve those investors are – they look at blockchain stocks as another way to profit on cryptocurrencies, which is totally wrong. And if anything, it means opportunities for better educated investors.
5) Opportunities are yet to come. The realm of public blockchains and their native assets is most relevant to the innovative investor at this stage. Private blockchains have not yield an entirely new asset class that is investable to the public. However, with the rise of blockchain technology, I believe this will come, and it will create new investment opportunities.
That being said, don’t just throw your money into any start-up companies that have the word "blockchain" in their names. There are a ton of garbage stocks out there doing nothing in blockchain and just waiting to monetize on stockholders’ hard-earned money.
Investing in blockchain technology stocks is no easy task, it requires a lot of due diligence. One of the most basic questions investors need to ask is: Does the blockchain technology project make sense? This applies to both public and private blockchains. For example, STEEM is a public blockchain many investors are familiar with (Currently, it is among the top 20 cryptocurrencies in terms of market cap.) STEEM aims to offer a blockchain-based social media platform, where users can earn rewards through activities such as posting. But, think for a second. Do we need a decentralized Facebook? If not, well, this is exactly what STEEM does. This spells out the biggest challenge many investors face. We all agree that blockchain will become a big thing, but not every company needs to get on a blockchain and not every company will benefit from a decentralized system. Unless the management actually understands blockchain technology and how their company in particular will benefit from it, many of their new initiative on blockchain could just be noise. And it is investors' job to filter through it.
Moreover, don’t expect a 200% return on your blockchain technology stocks in a year if you invest in the companies like Intel, Amazon or Walmart. I get it, all of the giants have said they are engaging in blockchain, and I believe they have the ability to come up with interesting things. But how much of they company earnings will be driven by the blockchain initiatives? And what’s the fraction of that will be translated into their stock prices? Tiny, probably.
So, after all this talk, here is one stock I like a lot - LeoNovus (TSX.V: LTV). I have been following the stock for four months now. The company has undergone rapid growth in the one year time since it launched its first product. The company is offering specific solutions to cloud data storage using blockchain technology - this project has broad applications; and cloud data storage can be truly made more secure yet accessible with blockchain technology. On the technical front, LTV is partnering with DTL Labs, the company behind Enterprise Ethereum, IBM’s Fabric, R3’s Corda, and JP Morgan’s Quorum. On the application front, LTV has signed contracts with the Government of Canada, one of the Canadian leading banks, a leading Canadian college, and a global healthcare data provider to install their platform. As a start-up company that only started selling its products less than a year ago, these are significant achievements. The stock has been recently sold off a lot with the broader crypto sell off, even on the backdrop of great new developments. To me this is a buying opportunity.
For more details on the company, keep reading...
Leonovus is a blockchain-hardened software-defined cloud storage solutions provider for enterprise. Their patented algorithms virtualize, transform, slice and disperse data across a network of on-premises, hybrid or multi-cloud storage nodes, which allows for secure object-based data storage that across the entire solution. The architecture is designed to minimize latency, optimize availability, reduce remote backup costs and meet data sovereignty requirements.
They have strong management team! I dug in on their employees profile and found most of them have strong IT architecture and software background, this is especially true for those who at the top of the company structure. So many of the start-up blockchain companies are ran by people in the financial industry. Well, no offense, as I am also one of the capital market employees, but really, how much do we actually know about the technicals to develop a great blockchain project. Very little I would say.
Leonovus launched its first product at the beginning of 2017. Within one year, the company has undergone rapid growth in product development, sales, as well as partnership. Here is a timeline of major events: January 10, 2017 - Leonovus launched its software-defined object storage solution solving security and compliance requirements for enterprise cloud storage. The solution is designed to bring enterprise cloud users an increased level of data security, recoverability and compliance across any combination of cloud storage solutions. The solution is hardware and software agnostic, which cuts implementation costs for enterprise. As an Oracle Gold Cloud Partner, Leonovus complements Oracle’s storage solution offerings by bringing GRC (governance, risk management and compliance) to Oracle’s IaaS (Infrastructure as a Service) cloud storage solutions and providing a foundation for enhanced GRC in all of Oracle’s cloud PaaS (Platform as a Service) and SaaS (Software as a Service) solutions.
January 30, 2017 - The software-defined object storage solution is in trials by one of the largest public colleges in North America to ensure its sensitive data meets compliance standards and remains secure within the cloud. Leonovus will begin with the institution’s multi-cloud environment in late February 2017, with the potential of being implemented into the other 24 post-secondary schools within its peer network over the next 24 months.
June 21, 2017 - The new product, Leonovus 365, targets the installed base of 89 million Microsoft 365 users. It provides Microsoft 365 with advanced security and compliance features, and it can pool the cloud storage from all the OneDrive licenses into one managed cloud storage instance. Users are able to achieve advanced collaboration in Leonovus 365.
September 26, 2017 - Leonovus announced enhancements to its existing data storage solution via the integration of blockchain technology. The company’s core technologies offer scalable distributed data storage with improved security, governance, and compliance while reducing costs, risk and providing additional defense against cybersecurity threats. The utilization of blockchain technology further enhances its effectiveness. The company’s previous adoption of blockchain technologies:
1st - In 2014, the company produced and deployed a managed, loosely-coupled blockchain computation pool built from available idle resources. The system managed both public and private blockchain computation on thousands of low/no-cost computing cores across North America with only a few clicks of a mouse from a browser-based dashboard.
2nd - In 2014, the company leveraged its proprietary distributed computing technology to mine digital currency from low-end distributed devices.
October 4, 2017 - Leonovus partnered with DLT Labs to accelerate the engineering of the blockchain components of the storage solution. DLT Labs is a global leader in implementing permissioned and non-permissioned blockchain solutions for enterprises. The Lab has extensive enterprise experience and expertise with all distributed ledgeblockchain technologies including Enterprise Ethereum, IBM’s Fabric, R3’s Corda, JP Morgan’s Quorum, and etc.. During one interview with DLT Labs, they expressed firm belief that Leonovus would continue market leadership in the field.
October 23, 2017 - Leonovus signed a proof of concept agreement with one of Canada’s “big six” banks (For those who live in the U.S., Canadian banking sector is entirely dominated by the six biggest banks, and there are not regional banks.) Leonovus will install its blockchain-hardened software to assist the bank in developing a multi-site data storage management fabric with data security, performance and compliance metrics that meet the bank’s data governance policies. Leonovus will also help the bank to leverage and maximize its current storage assets to form a secure and compliant private cloud storage network that will dramatically reduce data storage costs while increasing data security.
November 3, 2017 - Leonovus signed a proof of concept agreement with a global health data services company. This project will help deliver an improved user experience to the 20,000 Citrix users. This project came from the challenge that data may reside in different geographical business zones. As such a business user who lives in the North American Zone may have to log in and pull a file back from the European Zone. Due to inter-continental latencies, pulling in data from another geographic zone provides the end user with a poor experience, causing frustration and potential delays. Leonovus blockchain-hardened can be the solution to this problem.
January 24, 2017 - After four months of technical and market evaluation by the Government of Canada (GOC), Leonovus is pre-qualified to receive up to $500,000 purchase order from the GOC. The next step is to choose the sponsoring GOC department. There is potential for three additional $500,000 purchase orders in 2018, paid from departmental budgets.
Other than the above-mentioned breakthroughs, Leonovus has committed to many new partnerships with established companies in IT infrastructure services, cyber security, and data providers, to further access the total market for the technology. These companies include: ZoneTI (Canada-based), Snowy River International (Canada-based), Storage Made Easy (UK-based), FlexTy Solutions Inc. (Canada-based), ApexIT (US-based).
Back in June 2017, Leonovus has started to follow Cryptographic Module Validation Program (CMVP), which is a joint American and Canadian security accreditation program for cryptographic modules. The program is for vendors who seek to have their products certified for use by the U.S./Canadian Government and regulated industries that collect, store, transfer, share and disseminate "sensitive, but not classified" information. The certification process is expected to be completed in eight to twelve months. This will help broaden the use of Leonovus’ products.
Last but probably the best point to buy LTV today is...
A momentum trade is also likely to push LTV stock higher tomorrow. The very first Canadian blockchain technology ETF (TSX: HBLK) is about to start trading on Feb 7th, 2018. LTV has a significant weight in the ETF portfolio. Given the high demand in blockchain ETFs, I expect the ETF will start trading with high buying volume. For each unit of the ETF sold, the ETF provider needs to go buy the corresponding number of underlying stocks to back it up. For emerging companies such as LTV, if the ETF has high trading volume, it will definitely drive up the demand for the stocks. Just to give you a rough measure. When the first marijuana ETF (TSX: HMMJ) hit the Canadian market back in April 2017, we witness some smaller names in the portfolio getting pushed up 20% in the week following the launch. And HMMJ marked the top net inflow ETF in Canada in 2017.
submitted by timethcaper to wallstreet [link] [comments]

The right time to by this blockchain stock (TSX.V LTV)

TL;DR version:
LeoNovus is a provider of solutions to cloud data storage using blockchain technology. It was included as a major underlying component in a recently launched blockchain ETF. Blockchain stocks are all the hype, but LTV actually has solid fundamentals. It currently has projects with government of Canada, large Canadian bank, and a Canadian college. It is currently on a hot hiring spree for more software engineers as it vamps up its platform and take up more projects (just google LeoNovus careers). For more info on their recent accomplishments, check out the list on the bottom! If you want to invest in blockchain companies without trading cryptos, LTV is one of your best bets!
Long version:
A year ago today, bitcoin was at $1025USD, ethereum was at $11.3USD, NEO was not even a thing… Even with the current crypto market sell off, if you have bought bitcoin and ethereum a year ago, you are still up 580% and 5800% on your investments, respectively. However, don’t beat yourself too hard if you have missed the crypto rally. There are still other opportunities, namely the rise of the blockchain technology.
You may wonder isn’t betting on cryptocurrencies the same as betting on blockchain technologies. Not really. Why?
1) Not every blockchain needs a native currency. There are two types of blockchain – public and private. The difference between public and private blockchains is similar to the differences between Internet and intranet. The Internet is an open public space that anyone can tap into, while an intranet is designed to be a private space. Both bitcoin and ethereum are public blockchains. All transactions on a blockchain must be validated and embedded in data blocks, which essentially form the blockchain. Since the creators of public blockchains likely do not have the processing capabilities to handle all the transactions alone, miners step in. Miners on public blockchains need a reward for verifying transactions, therefore, cryptocurrencies are necessary for the operations of public blockchains. On the other hand, private blockchains are internal networks that are tightly controlled and do not require the need for a robust network of miners to verify transactions/blocks. Private blockchains are primarily used for business application where access to the chain is limited to certain parties. Cryptocurrencies are not a necessary component for most private blockchains.
2) Regulators are keeping their eyes close to cryptocurrencies and are trying to regulate them. However, they have shown very supportive attitude towards the development of blockchain technologies. At this point, the consensus view is that: at some point down the road, blockchain will revolutionize part of, if not the whole, society. Regulators may frown upon cryptocurrencies given their speculative nature, but they have also come to realize that they cannot afford not to embrace blockchain technologies. In December 2017, Janet Yellen called bitcoin as a “highly speculative asset”. As to a government-issued digital currencies, she commented ”While we’re looking at research on this topic, there are, I think to my mind, limited benefits from introducing it, a limited need for it and some substantial concerns.” Blockchain technologies have definitely started being adopted across multiple departments in the US government. The U.S. Army Medical Research and Materiel Command, The Department of Defense Transportation Command, The Food & Drug Administration all have issued notices saying they would looking into potential application of blockchain technologies.
Why should you invest in blockchain technology stocks?
1) Blockchain technology is not a fad. Many of the applications have passed the proof-of-concept stage, and started being adopted for social and business uses.
2) It is investing in the next “big thing”. Talking about blockchain today is like talking about the Internet back in the 90s – it is just difficult for people to imagine its specific applications. But most of us can see it being broadly applied.
3) Unlike cryptocurrencies which are highly speculative, the development of blockchain technology has its fundamentals. So far, it has been hard if not impossible to time all the cryptocurrencies. On the other hand, investing in blockchain stocks comes down to understanding applications of the technology and evaluating businesses, which can be much more predictable.
4) You may say, well, a lot of this blockchain stocks sell off when the cryptocurrency market melts. True. But investors panicking over their blockchain stock holdings when the cryptocurrencies are down just indicates how naïve those investors are – they look at blockchain stocks as another way to profit on cryptocurrencies, which is totally wrong. And if anything, it means opportunities for better educated investors.
5) Opportunities are yet to come. The realm of public blockchains and their native assets is most relevant to the innovative investor at this stage. Private blockchains have not yield an entirely new asset class that is investable to the public. However, with the rise of blockchain technology, I believe this will come, and it will create new investment opportunities.
That being said, don’t just throw your money into any start-up companies that have the word "blockchain" in their names. There are a ton of garbage stocks out there doing nothing in blockchain and just waiting to monetize on stockholders’ hard-earned money.
Investing in blockchain technology stocks is no easy task, it requires a lot of due diligence. One of the most basic questions investors need to ask is: Does the blockchain technology project make sense? This applies to both public and private blockchains. For example, STEEM is a public blockchain many investors are familiar with (Currently, it is among the top 20 cryptocurrencies in terms of market cap.) STEEM aims to offer a blockchain-based social media platform, where users can earn rewards through activities such as posting. But, think for a second. Do we need a decentralized Facebook? If not, well, this is exactly what STEEM does. This spells out the biggest challenge many investors face. We all agree that blockchain will become a big thing, but not every company needs to get on a blockchain and not every company will benefit from a decentralized system. Unless the management actually understands blockchain technology and how their company in particular will benefit from it, many of their new initiative on blockchain could just be noise. And it is investors' job to filter through it.
Moreover, don’t expect a 200% return on your blockchain technology stocks in a year if you invest in the companies like Intel, Amazon or Walmart. I get it, all of the giants have said they are engaging in blockchain, and I believe they have the ability to come up with interesting things. But how much of they company earnings will be driven by the blockchain initiatives? And what’s the fraction of that will be translated into their stock prices? Tiny, probably.
So, after all this talk, here is one stock I like a lot - LeoNovus (TSX.V: LTV). I have been following the stock for four months now. The company has undergone rapid growth in the one year time since it launched its first product. The company is offering specific solutions to cloud data storage using blockchain technology - this project has broad applications; and cloud data storage can be truly made more secure yet accessible with blockchain technology. On the technical front, LTV is partnering with DTL Labs, the company behind Enterprise Ethereum, IBM’s Fabric, R3’s Corda, and JP Morgan’s Quorum. On the application front, LTV has signed contracts with the Government of Canada, one of the Canadian leading banks, a leading Canadian college, and a global healthcare data provider to install their platform. As a start-up company that only started selling its products less than a year ago, these are significant achievements. The stock has been recently sold off a lot with the broader crypto sell off, even on the backdrop of great new developments. To me this is a buying opportunity.
For more details on the company, keep reading...
Leonovus is a blockchain-hardened software-defined cloud storage solutions provider for enterprise. Their patented algorithms virtualize, transform, slice and disperse data across a network of on-premises, hybrid or multi-cloud storage nodes, which allows for secure object-based data storage that across the entire solution. The architecture is designed to minimize latency, optimize availability, reduce remote backup costs and meet data sovereignty requirements.
They have strong management team! I dug in on their employees profile and found most of them have strong IT architecture and software background, this is especially true for those who at the top of the company structure. So many of the start-up blockchain companies are ran by people in the financial industry. Well, no offense, as I am also one of the capital market employees, but really, how much do we actually know about the technicals to develop a great blockchain project. Very little I would say.
Leonovus launched its first product at the beginning of 2017. Within one year, the company has undergone rapid growth in product development, sales, as well as partnership. Here is a timeline of major events: January 10, 2017 - Leonovus launched its software-defined object storage solution solving security and compliance requirements for enterprise cloud storage. The solution is designed to bring enterprise cloud users an increased level of data security, recoverability and compliance across any combination of cloud storage solutions. The solution is hardware and software agnostic, which cuts implementation costs for enterprise. As an Oracle Gold Cloud Partner, Leonovus complements Oracle’s storage solution offerings by bringing GRC (governance, risk management and compliance) to Oracle’s IaaS (Infrastructure as a Service) cloud storage solutions and providing a foundation for enhanced GRC in all of Oracle’s cloud PaaS (Platform as a Service) and SaaS (Software as a Service) solutions.
January 30, 2017 - The software-defined object storage solution is in trials by one of the largest public colleges in North America to ensure its sensitive data meets compliance standards and remains secure within the cloud. Leonovus will begin with the institution’s multi-cloud environment in late February 2017, with the potential of being implemented into the other 24 post-secondary schools within its peer network over the next 24 months.
June 21, 2017 - The new product, Leonovus 365, targets the installed base of 89 million Microsoft 365 users. It provides Microsoft 365 with advanced security and compliance features, and it can pool the cloud storage from all the OneDrive licenses into one managed cloud storage instance. Users are able to achieve advanced collaboration in Leonovus 365.
September 26, 2017 - Leonovus announced enhancements to its existing data storage solution via the integration of blockchain technology. The company’s core technologies offer scalable distributed data storage with improved security, governance, and compliance while reducing costs, risk and providing additional defense against cybersecurity threats. The utilization of blockchain technology further enhances its effectiveness. The company’s previous adoption of blockchain technologies:
1st - In 2014, the company produced and deployed a managed, loosely-coupled blockchain computation pool built from available idle resources. The system managed both public and private blockchain computation on thousands of low/no-cost computing cores across North America with only a few clicks of a mouse from a browser-based dashboard.
2nd - In 2014, the company leveraged its proprietary distributed computing technology to mine digital currency from low-end distributed devices.
October 4, 2017 - Leonovus partnered with DLT Labs to accelerate the engineering of the blockchain components of the storage solution. DLT Labs is a global leader in implementing permissioned and non-permissioned blockchain solutions for enterprises. The Lab has extensive enterprise experience and expertise with all distributed ledgeblockchain technologies including Enterprise Ethereum, IBM’s Fabric, R3’s Corda, JP Morgan’s Quorum, and etc.. During one interview with DLT Labs, they expressed firm belief that Leonovus would continue market leadership in the field.
October 23, 2017 - Leonovus signed a proof of concept agreement with one of Canada’s “big six” banks (For those who live in the U.S., Canadian banking sector is entirely dominated by the six biggest banks, and there are not regional banks.) Leonovus will install its blockchain-hardened software to assist the bank in developing a multi-site data storage management fabric with data security, performance and compliance metrics that meet the bank’s data governance policies. Leonovus will also help the bank to leverage and maximize its current storage assets to form a secure and compliant private cloud storage network that will dramatically reduce data storage costs while increasing data security.
November 3, 2017 - Leonovus signed a proof of concept agreement with a global health data services company. This project will help deliver an improved user experience to the 20,000 Citrix users. This project came from the challenge that data may reside in different geographical business zones. As such a business user who lives in the North American Zone may have to log in and pull a file back from the European Zone. Due to inter-continental latencies, pulling in data from another geographic zone provides the end user with a poor experience, causing frustration and potential delays. Leonovus blockchain-hardened can be the solution to this problem.
January 24, 2017 - After four months of technical and market evaluation by the Government of Canada (GOC), Leonovus is pre-qualified to receive up to $500,000 purchase order from the GOC. The next step is to choose the sponsoring GOC department. There is potential for three additional $500,000 purchase orders in 2018, paid from departmental budgets.
Other than the above-mentioned breakthroughs, Leonovus has committed to many new partnerships with established companies in IT infrastructure services, cyber security, and data providers, to further access the total market for the technology. These companies include: ZoneTI (Canada-based), Snowy River International (Canada-based), Storage Made Easy (UK-based), FlexTy Solutions Inc. (Canada-based), ApexIT (US-based).
Back in June 2017, Leonovus has started to follow Cryptographic Module Validation Program (CMVP), which is a joint American and Canadian security accreditation program for cryptographic modules. The program is for vendors who seek to have their products certified for use by the U.S./Canadian Government and regulated industries that collect, store, transfer, share and disseminate "sensitive, but not classified" information. The certification process is expected to be completed in eight to twelve months. This will help broaden the use of Leonovus’ products.
Last but probably the best point to buy LTV today is...
A momentum trade is also likely to push LTV stock higher tomorrow. The very first Canadian blockchain technology ETF (TSX: HBLK) is about to start trading on Feb 7th, 2018. LTV has a significant weight in the ETF portfolio. Given the high demand in blockchain ETFs, I expect the ETF will start trading with high buying volume. For each unit of the ETF sold, the ETF provider needs to go buy the corresponding number of underlying stocks to back it up. For emerging companies such as LTV, if the ETF has high trading volume, it will definitely drive up the demand for the stocks. Just to give you a rough measure. When the first marijuana ETF (TSX: HMMJ) hit the Canadian market back in April 2017, we witness some smaller names in the portfolio getting pushed up 20% in the week following the launch. And HMMJ marked the top net inflow ETF in Canada in 2017.
submitted by timethcaper to pennystocks [link] [comments]

Introducing KAMBRIA - A Platform that Fuels Robotics & AI Future

KAMBRIA - Fueling the Robotics & AI Future
Overview
Our mission is to accelerate the process of robotics innovation, enabling faster, cheaper, and easier robotics development and adoption by everyone.
In order to achieve this vision, we are contributing our robot Ohmni, consisting of a robotics repository, high level behavioral library, and modular components as the basis for an open robotics innovation platform.
We named the platform Kambria, after the Cambrian Explosion, 500 million years ago, when an accelerated evolutionary rate gave rise to biodiversity and abundance. We believe this platform will be the catalyst for a similar explosion in Robotics.
Technology
The Kambria Architecture is made up of five pillars: Codebase (KDNA), innovation marketplace, the manufacturing alliance, value capture, and legal protection. Each directly addresses the shortfalls of modern robotics and is designed to maximize the game theoretic incentives.
Interactions on the platform are facilitated by the Kambria Token (KAT), Maker Credit, and Kambria Karma. KAT is a native ERC20 utility token. Its main functions are to enable access to the Kambria platform, reward participation, and align incentives for all stakeholders in the ecosystem. As with any ERC20, KAT will be listed on exchanges and can be traded for other cryptocurrencies.
Maker Credit and Kambria Karma are not ERC20 tokens, but rather non-tradeable ledger entries for every wallet address. Karma is used to track actual work performed. It is also an incentive to promote useful work and is awarded for concrete contributions. Credit is similar to reward point or "cash back”. Its purpose is to stimulate transactions and spendings in the ecosystem.
Users Benefit from Kambria Increase innovation rate Large scale reuse and sharing of technology can reduce costs and make robots more affordable Robotics technology as a social good, accessible to everyone
Token Holder Perks Program
A large community of roboticists together is valuable resource. Based on this, the Kambria Foundation will negotiate and manage a perks program for all token holders, such as discounted access to makerspaces, coworking spaces, or parts/tools/supplies.
To participate in the program, you only need to hold a minimum of one KAT in a wallet and be able to validate ownership of that wallet. Subsequent tiers ($500+, etc.) will give you access to additional perks/discounts as the Foundation negotiate them. More details will be announced in the future.
Phases and Milestones
January 2018 - May 2018: Kambria Alpha Deploy key smart contracts on testnet. Have GitHub repos linkable to the testnet contracts. Open up OhmniLabs’ 3d printing and waterjet aluminum processes to ensure KDNA orders are fabricated into real world parts as fast as possible. Work with roboticists and groups around the world to start sharing KDNA and evolving the tools and processes as needed. Ohmni robots available to order as a base platform. Continue building out APIs and SDKs based on needs and engage other roboticists in guiding the development. Start initial bounties for add-ons, enhancements and other valuable technology contributions to Kambria. These may start off-chain and move to on-chain once the smart contracts are ready.
June 2018 - December 2018: Kambria Beta Open up smart contracts on mainnet. Open up major subcomponents of Ohmni with appropriate licensing transferred from OhmniLabs. Motor drives, touchscreen and display, USB, embedded system, battery charging, vision algorithms, etc. Be able to view these pieces (and those contributed by others) in the code base and remix/work on integrating them into new forms. Collaborate with other teams on demos showing what can be created. Receive real KDNA or fiat orders for these parts on the main chain and send back completed parts. Issue some initial real bounties on mainnet and start bringing the new technology into Kambria codebase for all to share.
Q1 2019: Full release Full release of Ohmni in the Kambria codebase. Entire KDNA and open for full remixing. All bounty systems and Dapps active, released, and usable.
Team
Thuc Vu - Co-Founder, CEO Thuc is a serial entrepreneur, with multiple company acquisitions, the last one by Google. He has deep expertise in game theory, tournament design and multi-agent systems. He earned his PhD from Stanford and BS from Carnegie Mellon, both in computer science. Thuc is a social entrepreneur in Vietnam, involved in several community projects.
Jared Go - Co-Founder, CTO Jared is an avid maker and roboticist, previously CTO and founding member at a networks startup. He has an extensive experience in blockchain, AI, real-time graphics, VR, mechanical engineering and electrical engineering. Jared is a Stanford Graduate Fellow, and has a BS in computer science from Carnegie Mellon University.
Tingxi Tan - Co-Founder Tingxi has a background in cloud computing, network infrastructure and distributed system design. He has been active in Crypto Investment since 2010. He was responsible for building the global scale cloud infrastructure at a networks startup. He graduated from MSc Computer Science U of Calgary and BSc Applied Math Western University.
Manuela Veloso - AI & Robotics Manuela Veloso is the Herbert A. Simon University Professor in the School of Computer Science at Carnegie Mellon University. She was the President of AAAI (Association for the Advancement of Artificial Intelligence) until 2014, and the co-founder and a Past President of the RoboCup Federation. She is a fellow of AAAI, IEEE, AAAS, and ACM. She is an international expert in artificial intelligence and robotics.
Dhana Pawar - Marketing Dhana Pawar is seasoned business and product management executive. Launched award winning, innovative products with an emphasis on delighting consumers. She has led teams to develop compelling applications which led to strategic acquisitions and mergers. Her other expertise include product management, product strategy, end to end product development and partnerships.
Ned Semonite - Partnerships Ned Semonite brings a wealth of experience as a seasoned product and marketing professional with over 25 years of experience in bringing innovative hi-tech products and services to enterprise and consumer markets. Mr. Semonite contributed significantly to the development of the videoconferencing industry. In his various past leadership roles, Ned worked to sign and develop telco channel partners, then rose through the organizations in a series of management roles including VP of product management, VP of engineering and EVP of worldwide marketing.
Advisory Board
Simon Seojoon Kim - Hashed Simon Seojoon Kim is CEO and founding partner of Hashed, a leading crypto fund based in South Korea. He is a Blockchain evangelist and organizer of Hashed Lounge, a premier Blockchain Seoul meetup community. Prior to Hashed, Simon was a serial entrepreneur and has co-founded numerous companies. He served as Chief Product Officer at Knowre, an ed-tech startup that was named one of World's Top 10 Most Innovative Companies in Education by Fast Company.
Loi Luu - Kyber Network Loi Luu is a researcher working on cryptocurrencies, smart contract security and distributed consensus algorithms. He is also a regular invited speaker at Bitcoin and Ethereum workshops such as DevCon2, EDCON. Loi believes in the force of the Ethereum and Blockchain technology. Much of his work revolves around this community. He developed Oyente, the first open-source security analyzer for Ethereum smart contracts. Loi also cofounded SmartPool, another open source project which embraces decentralization of mining pools in existing cryptocurrency. He continues to champion decentralisation and trustless properties of the Blockchain with KyberNetwork, taking inspiration and developing value for the community.
Karen Hsu - Blockcypher Karen Hsu is the Head of Growth at BlockCypher. With over 20 years of experience in software applications and infrastructure, Karen is co-inventor for four patents and worked in a variety of engineering, marketing, and sales roles. At Siebel System, Informatica, Datameer and SugarCRM, she has led teams to bring new products to market. She has also worked closely with financial standards organizations, such as SWIFT, ACORD, and FpML.
George Li - Wetrust George is an ex-Googler who previously co-founded CottonBrew, a Stanford StartX computer vision company. Prior, he held roles in Corporate Strategy and Infrastructure at Google, and was a consultant at McKinsey. He holds a M.S in Management Science Engineering from Stanford and B.S. in Electrical and Computer Eng from Rutgers.
Partners
Carnergie Mellon University Intel RealSense Technology Humana AUTODESK Genesis Healthcare System Nanyang Technology University Stanford University
submitted by KambriaIO to KambriaOfficial [link] [comments]

Bitcoin Mining Sucks  Why?  Demystifying Bitcoin Mining Rigs, Pools & Shares What is Bitcoin - Bitcoin Mining - How bitcoin works - Explained - In Hindi Bitcoin Mining Explained in Detail: Nonce, Merkle Root, SPV,...  Part 15 Cryptography Crashcourse Bitcoin Mining Blockchain/Bitcoin for beginners 6: blocks and mining, content and creation of bitcoin blocks

Since it does not have a “mining” algorithm (PoS of PoW) it cannot used in a public network. It nonetheless implements the basic features for a functioning blockchain. The best Bitcoin mining software can run on almost any operating system, such as OSX, Windows, Linux, and has even been ported to work on a Raspberry Pi with some modifications for drivers depending on your mining setup. Not only does the Bitcoin mining software relay the input and output of your Bitcoin miners to the blockchain, but it also monitors them and displays general statistics such ... But in terms of mining Dogecoin, there have been some major changes. Some of the most important have been: The rise of Scrypt ASICs – Dogecoin was initially made using the “Scrypt” algorithm which meant that it couldn’t be mined using the specialised hardware ASIC chips that had been designed to more efficiently mine Bitcoin. However ... The list below details the biggest Bitcoin mining pools. This is based on info from Blockchain’s pool share chart: We strongly recommend new miners to join Poolin or Slush Pool. 1. Poolin . Poolin is a public pool which mines about 18% of all blocks. They are based in China, but have a website fully available in English. 2. F2pool. F2Pool is based in China. It mines about 17% of all blocks ... And Bitcoin’s uses this cryptographic hashing algorithm for its blockchain consensus mechanism. The Most Common Cryptocurrency Mining Algorithm - SHA-256 Algorithm: What is SHA-256? SHA-256 (secure hash algorithm) is a cryptographic hash function with a digest length of 256 bits. It is a keyless hash function; that is, an MDC (Manipulation ...

[index] [43693] [2862] [10816] [43245] [13609] [35289] [2747] [19742] [35923] [11119]

Bitcoin Mining Sucks Why? Demystifying Bitcoin Mining Rigs, Pools & Shares

This class is not an advanced seminar on bitcoin--we will not be delving deeply into the inner workings of the system, but instead providing a bird's-eye overview with enough technical detail for ... Bitcoin Mining im Detail erklärt: Nonce, Merkle Root, SPV ... Mathematical examples of Symmetric & Asymmetric Cryptography Algorithms (Part 2) - Duration: 31:02. Dr. Earn while you sleep, no expensive bitcoin mining involved. More details: ... bitcoin mining algorithm how to start bitcoin mining, btc mining, asic bitcoin miners bitcoin mining program, bitcoin ... This video of Cryptocurrency Mining Algorithms gives an idea of algorithms requires for mining cryptocurrencies. It helps you to learn about mining algorithms. The video shows topics like: 1. What ... What is Bitcoin, what is bitcoin mining, how bitcoin works I am going to explain you in Hindi Bitcoin was created by the "Satoshi Nakamoto". Bitcoin is a form of digital currency, created and ...

#