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Ethereal Summit NY Showed How Blockchain is Booming in 2019

All the videos, quotes and scenes as Blockchain Week kicks off the next phase of development in spectacular fashion…The annual Ethereal Summit in New York City not only kicks off Blockchain Week — perhaps the most substantive gathering of the year in the blockchain and crypto industry — but serves as a bellwether for ConsenSys and the whole Ethereum ecosystem.This year’s iteration at Pioneer Works in Brooklyn showcased an ecosystem beginning to reap the developmental benefits of an annum spent furiously BUIDLing, eschewing hype for the cause of establishing a robust and sustainable industry. Everywhere you looked at Ethereal Summit, it was coders engaging with designers, storytellers and entrepreneurs sharing wisdom, and actors from every far-flung corner of the blockchain ecosystem coming together to connect.In addition to headline addresses like Joe Lubin’s vision of 2047, Aya Miyaguchi of the Ethereum Foundation announcing Osaka, Japan as the location for Devcon V, and major announcements by the likes of MolochDAO, Kaleido, and PegaSys, the weekend was chock full of lively debate and discussion, which all together represented a global community that’s more active, productive, and cohesive than ever while hurtling towards Ethereum 2.0 and the next phase of blockchain…QUOTES OF THE WEEKEND:Sophia Lopez of Kaleido: “You know the tech has matured when users don’t even know that it’s powered by blockchain — and we’re already seeing this happen. People can focus on business value and not the wiring behind it.”Paul Brody: “For most companies, by the end of this year, it will be cheaper to do business on a public blockchain than it will to do business on a private blockchain.”Jinglan Wang of Plasma Group: Ethereum does f***ing scale. All these other chains are doing is marketing and leaning harder. The community can help Ethereum if it tweets: Ethereum DOES scale!”Richard Burton of Balance: “One metric I like to track is how many daily active addresses are moving DAI around, which is roughly 10,000 right now. If we want to increase that by 10x, we’ll need extremely mature crypto/fiat onramps & millions of people onboarded onto that system”Andrea (Andy) Morales: “A lot of the problems that we see in blockchain with product fit come down to design.”Mike Novogratz: “The herd that I’ve been talking about for so long…It’s here.”Robby Greenfield: “The only limitation to how much students can learn is our perception of how much they can learn…”Amber Baldet of Clovyr: “Regulators have never been strong on tech. They did a terrible job with the internet in the 90s and it’s not any better now…”Chris Burninske: “Crypto has gone from being a myth to a strong belief. It’s next step will be going from a belief to a truth.”Austin Thomas Griffith: “I basically stayed in all winter. And I’ve been quietly building in winter.”Queen Diambi Kabatusuila: “We must all be integrated into the construction of the future of humanity. No one can be left behind.”Mike J. Walker of Microsoft: “The most common challenge i see with older companies is wanting to update a 30 yr old business process with blockchain. Don’t do it. Think about what unique aspects of blockchain apply to your business model.”Amanda Gutterman: “Some things benefit from shocks; they thrive and grow when exposed to volatility, randomness, disorder, and stressors and love adventure, risk, and uncertainty.”Tom Shaughnessy: “If you’re building on another smart contract platform, you have to rebuild all the infrastructure tools that Ethereum already has. Even if another smart contract platform has better tech, the time differential is much longer than people assume today”Ameen Soleimani: “My assumption of what’s about to happen is that #Ethereum is going to eat everything.”Tushar Jain: “If layer 2 does not work, #Ethereum will not work. I believe that with pretty high conviction.”Beatriz Ramos: “There’s all this fetishism about the technology but we are about the soul”Danny Ryan: “…My wife then proceeded to run a @CryptoKitties breeding farm for the next two weeks.”LIVESTREAM VIDEOSCheck out the full live stream of Ethereal Summit NY 2019…Friday, Main Stage Morning Session, Main Stage Afternoon Session, Main Stage Morning Session, Main Stage Afternoon Session from ConsenSys…Disclaimer. The views, information, and opinions expressed are solely those by the author above do not necessarily represent the views of Consensys AG. They are meant for informational purposes only, are not intended to serve as a recommendation or investment advice to buy or sell any securities, cryptoassets, or other financial products.Ethereal Summit NY Showed How Blockchain is Booming in 2019 was originally published in ConsenSys Media on Medium, where people are continuing the conversation by highlighting and responding to this story.
Consensys Media

The State of Layer-2 Protocol Development #2

The second in a series of progress reports on all things layer-2 on Ethereum. Progress report #1 here.Welcome to the second post in a series about layer-2 scaling solutions being designed and built on top of Ethereum! The first post in this series introduced Plasma and state channels as scaling frameworks for Ethereum, along with their caveats and areas of future research. This post will bring you up to speed on the latest developments for different groups working on layer-2 scaling.The State of PlasmaPlasma Group has been hard at work implementing predicates on top of their Plasma Cashflow codebase. Unlike Plasma Cash[flow] and Plasma M[ore]VP, which only allow for simple monetary transfers, ‘predicates’ allow for a measure of smart contract execution. Specifically, verification of predicates is essentially what Bitcoin Script allows; anything that you can do with Script (which is a lot! ) can be done with this, including linking to the Lightning Network. Verification of stateless predicates, however, does not offer the same range of functionality as execution of stateful contracts (which is only available on the Ethereum base chain in this context).LeapDAO has implemented DAI transfers on their Plasma Leap chain. This solves one important roadblock for mass adoption of cryptocurrencies: requiring users to hold volatile assets. The guarantees on fund safety promised by Plasma also make this potentially superior to solutions like xDAI, which rely on an honest centralized operator.Despite the known limitations of Plasma MVP (the sum of safe transaction throughput of all Plamsa MVP chains is constant-factor upper-bounded by the cheap available block space on Ethereum) and suggestions to use a Plasma Cash variant instead, OmiseGO has bravely pushed forward to an alpha release of their Plasma MoreVP, Ari. Hoard, in partnership with OmiseGO, has continued work on Plasma Dog, a game using OmiseGO’s Plasma framework. Unfortunately, rewards in the game reduce to an obfuscated faucet; a good first step, but a significant amount of effort on researching proper cryptoeconomics for games will be needed.Loom has passed a number of milestones, including adding many external validators to their PlasmaChain and building numerous exciting game-oriented applications on top of it. On the research side, Konstantopoulos presented requirements for implemented Plasma Cash-like constructions on top of Bitcoin Script, which could potentially make it simpler and cheaper to implement on top of Ethereum.See Also (non-exhaustive)Plasma Group [Twitter] (non-profit Plasma R&D, Plasma Cashflow, plapps)Plasma Implementers CallsLearn Plasma (resources to learn about Plasma design)LeapDAO [Twitter] (Plasma Leap, Plasma MVP)OmiseGO [Twitter] (Plasma MVP variants)Loom Network [Twitter] (Plasma Cash variants), Georgios Konstantopoulos [Twitter]The State of ChannelsFor the past two months, Counterfactual has been the team to beat when it comes to advances in the channel space. Their third development update featured the release of the Counterfactual Playground, a live working demo of generalized state channels on Ethereum. They’ve since made continuous improvements to their developer toolkit, including improved documentation and open project management. In fact, they’ve made so much progress that Connext have decided to build the next version of their network using the Counterfactual framework.Patrick McCorry and his team recently published a widely-circulated systematization of knowledge paper on layer-2 constructions. The paper presents and analyzes numerous off-chain techniques and their properties, and busts four myths surrounding blockchain scalability and layer-2. The Pisa researcher also recently released a post detailing tradeoffs, challenges, and promising future directions for off-chain scaling.See Also (non-exhaustive)Counterfactual [Twitter] (generalized state channels), Jeff Coleman[Twitter], Liam Horne [Twitter], Josh Stark [Twitter]Patrick McCorry [Twitter] (Pisa, watchtowers)SpankChain [Twitter] (payment channels for streaming services), Ameen Soleimani [Twitter]Raiden Network [Twitter] (payment channel network a la Lightning Network)Connext [Twitter] (payment channel network)Bonus: Building Scalable Decentralized Payment SystemsPlasma aims to a provide a solution to the two-way peg problem for side chains through an exit game, enabling for the first time a trustless two-way peg (one in which your coins cannot be locked up or stolen). However, it is not permissionless — the Plasma operator can censor transactions on the Plasma chain at will. Can we do better? If we had a permissionless consensus protocol for the Plasma chain that discourages block withholding and guarantees progress, then the answer is yes.My research colleague Mikerah Quintyne-Collins and I recently published a paper doing just that, titled “Building Scalable Decentralized Payment Systems,” available on arXiv here. The construction leverages the security provided by commit chains, the trustless two-way peg of a Plasma exit game, and permissionlessness of block production (either mining or validating) through merged consensus. Combined with improvements to block propagation costs, this allows for a side chain that scales well beyond currently deployed or planned layer-2 techniques while retaining virtually identical decentralization and security guarantees to layer-1 Ethereum.Concluding RemarksThe past two months have seen fewer research advances for layer-2 techniques, but a sharp increase in heads-down development and formalization of knowledge. This laying of solid foundations hints towards a promising future for off-chain scaling on Ethereum.Stay tuned for the next installment of this approximately bi-monthly series for the latest updates on layer-2!Check me out on Twitter and Medium for more updates in the future!And check out more from ConsenSys:Disclaimer. The views, information, and opinions expressed are solely those by the author above do not necessarily represent the views of Consensys AG. They are meant for informational purposes only, are not intended to serve as a recommendation or investment advice to buy or sell any securities, cryptoassets, or other financial products.Any reference in this article to any person, organization, activity, products, or services does not constitute an endorsement or recommendation of ConsenSys. This article does not constitute legal or other professional advice or services. ConsenSys is a decentralized community with ConsenSys Media being a platform for members to freely express their diverse ideas and perspectives. To learn more about ConsenSys and Ethereum, please visit our website.The State of Layer-2 Protocol Development #2 was originally published in ConsenSys Media on Medium, where people are continuing the conversation by highlighting and responding to this story.
Consensys Media

Coinbase Gets Bullish on Binance Launchpad backed Matic Project [MATIC]

It says ‘healthy competition is good for business, and really at the end best for end-users’. Binance and Coinbase are two of the leading name among the world’s well-known cryptocurrency exchanges. According to the latest post of Matic Blockchain project, an investment venture of Coinbase is investing in Matic’s seed round. Per the announcement, seed funding will be aligned with Matic project’s vision of increased adoption and enhanced usability, scalability and assist them in the long-term vision of decentralized application. Backed by Binance launchpad, Matic Network (MATIC) is an Ethereum-powered layer-two scaling solution which uses sidechains for off-chain computation, Plasma framework for asset security and also a decentralized network of proof-of-stake validators. The project’s native token ‘MATIC’ was recently finished its first public sale via Binance’s launchpad. Although the crypto community assumes, Coinbase and Binance as competitors but the matter is quite interesting and varied here. Coinbase’s announcement to be Matic’s seed investor was revealed via Matic’s official blog post on April 29 which was later shared on its Twitter handle. Matic team took to Twitter and announced the excitement of Coinbase’s investment arm; source: Matic’s twitter handle further describes the terms as follows; – To enable real-world commerce Matic will be integrating USDC on its sidechains – – Coinbase wallet users can leverage Matic network to transfer and trade assets instantly – – DApps deployed on Matic will be easily accessible from Coinbase Wallet Per the blog post, Matic wallet gets in collaboration with Coinbase wallet which later helps user shift their assets from Ethereum network to Matic. It reads that; Once the user’s assets are on Matic, they will be able to transfer and trade them on Coinbase Wallet instantly. Users can use DApps built on Matic directly on Coinbase Wallet’s browser or can use wallet connects to access them through Matic Wallet. While Coinbase kept his investment arm on Matic, Binance CEO, CZ took to Twitter and expressed his view as both the companies are Companions rather than Competitors. In his Twitter handles, CZ says that Companions, not competitors in supporting good projects, and grow the ecosystem together. Nevertheless, Coinbase Venture’s effort as an investment firm since its launch in 2018 is notable– in fact, it made its investment presence across 30 blockchain and crypto oriented projects. So readers, what’s your stake on Coinbase funding Matic project? Let us know in the comment below. The post Coinbase Gets Bullish on Binance Launchpad backed Matic Project [MATIC] appeared first on Coingape.
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Twitter Spoof: BitConnect 2.0 to Return in July; BCC Token to Rise from the Crypto Graveyard?

Bitcoinnect is known for its high yield investment platform The company had a cryptocurrency Bitconnect Coin (BCC) which investors bought with Bitcoin to gain a 0,25% daily interest. The company also has a lending platform and exchange which closed due to warnings from Texas and North Carolina authorities. Some unknown person is however working […]
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MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2%

MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2% A vote about whether to decrease the so-called stability fee for MakerDAO’s ethereum blockchain-baseddecentralized stablecoin DAI has started. The vote was announced on the organization’s blog on May 17. If approved, the latest proposal would decrease the stability fee by 2% to […] Cet article MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2% est apparu en premier sur Bitcoin Central.
Bitcoin Central

Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance

Bitcoin bulls have turned out to be more relentless than the most have predicted from its historic prices. However, the fundamentals around Bitcoin [BTC] seem to be stronger than ever with the Bitcoin virus apparently spreading to the east now. Mati Greenspan, the senior market analyst at eToro tweeted, “BTC on the move again… Asian market certainly doing their bit today.” This is coming after a huge pullback on 17th May 2019. A Bullish Marubuzo with was seen in the 0: 00-4: 00 Hours UTC on 19th May as the market broke above $8000 again. This the second time the market has attempted to break it after a huge correction. BTC/USD 1-Day Chart on Bitstamp (TradingView) The other four performing coins Opening Price: $6968 Closing Price: $8109 The weekly gains: 11% Weekly High/Low: $8390/$6178 Binance [BNB] Coin Binance [BNB] coin was trading in the red in the last week’s update trading around $20. Nevertheless, the token started picking up value again as normal operations began at Binance Exchange after the hack. This week Binance also initiated the process of burning token from the Ethereum blockchain to process them on the native Binance Blockchain. BNB/USD 1-Day Chart on TradingView Opening Price: $20 Closing Price: $29.5 The weekly gains: 40.6% Weekly High/Low: $32.2/$19.9 Stellar [XLM] Stellar’s rise was higher than most coins during the week as it held gained 35% on a weekly scale. The Stellar validators were reportedly shut down for two hours on 15th May 2019. As Bitcoin continued to correct and rise, Stellar held it gains above 0.00001750 BTC. XLM/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $0.10 Closing Price: $0.14 The weekly gains: 46% Weekly High/Low: $0.16/$0.117 Ethereum [ETH] Ethereum has been the top performer in leading altcoin gains in terms of total market capitalization. The total market capitalization of Ethereum is above $25 billion. It still accounts for more than 10% of the total capitalization of cryptocurrency markets. Also Read: Ripple’s XRP and Ethereum Fight for 2nd Place Behind Bitcoin In The Wake of a Bull Run ETH/USD 1-Day Chat on Coinbase (TradingView) Opening Price: $188 Closing Price: $259 The weekly gains: 38% Weekly High/Low: $281/$185 Tezos [XTZ] Tezos [XTZ] has been one of the best performing coins of the year. It has gained more than 100% before the bull run on Bitcoin began. The gain was influenced by the Coinbase allowing Tezos [XTZ] as the first coin which could be staked/forged on the Coinbase Custody platform. It was on the rise again this week as the market seems to have broken bullish since the beginning of the month. It broke above $1.75 as it set sights on to $2. XTZ/USD 1-Day Chart on Bitfinex (TradingView) Opening Price: $1 Closing Price: $194 The weekly gains: 25.4% Weekly High/Low: $207/$157   XRP, Dash, IOTA, and Cosmos [ATOM] The almost all altcoins were in the green on a weekly scale. While the above-mentioned cryptocurrencies rose higher than the rest, XRP, Dash, IOTA, and Cosmo [ATOM] also registered more than 20% gains. The gain in XRP was considerable as it broke above the $18 billion market capitalization. Moreover, the weekly rise is about 25%. The dominance of XRP over cryptocurrency market is about 7%. The rise of Dash, IOTA, and ATOM is 21%, 31% and 23$ respectively on a weekly scale. XRP/USD 1-Day Chart on Bitstamp (TradingView) *The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.5 billion is 0.23%. Hence, for Analysis purpose we will only consider cryptocurrencies with a total market capitalization $0.5 billion or more. For future analysis, we’ll try to maintain 0.25% as a standard for the calculation. **The data is taken at around 11: 00 Hours UTC on 19th May 2019.  The post Crypto-Market Top Weekly Performers: Bitcoin, Ethereum, XRP, Stellar, Tezos, Binance appeared first on Coingape.
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