Polkadot news

A protocol that enables interoperability of blockchains and cross-blockchain transactions.

World latest news

Ethereum Need Developers Now Than Never, ETH Surging, Up 32.1%

Ethereum (ETH) bulls vibrant; prices surge 32.1 percent Serenity and similar hard forks demand developers Developers are crucial for any open source blockchain project. Ethereum may be the leader, but they still have to retain them. The network’s reliance is more pronounced now as they race towards Serenity. Meeting these milestones demand developer participation. If not, the platform will fizzle out even with lucrative bounty program in place. Presently, ETH bulls are steadfast, solid above $300 and rallying 32.1 percent from last week’s close. Ethereum Price Analysis Fundamentals There are many proposals with the express objective of enhancing the Ethereum network. From Homestead, Metropolis and later Serenity, the developer community is active. So active is Ethereum source code improvement that it eclipses that of Bitcoin and other high throughput platforms as Tron and EOS. Lead developers provide leadership. Afri Schoedon was one. Abruptly quitting early this year because of a Meme, his departure opened a can of worms. Ethereum maximalists insist that he was sabotaging Ethereum’s development and promoting third-party scaling solutions of which Polkadot is one of the many. However, there is more to this other than the superficial allegations of Afri was hamstringing Ethereum’s development. Dependence on individuals and crowning them as kings is a problem. It brings about centralization, an antithesis for blockchain foundation. Instead, there are options like bounty programs. Ethereum has one. Through it, there is community development. EIP forwarding is a communal activity and made better by exchanges like Topkie designed for Bounty Stakes trading. It gets better. As diverse as the Ethereum ecosystem is, traders have a chance to exchange them for other high reward tokens via the exchange. Such is critical, especially in days ahead when Ethereum prepares to smoothly transition to Serenity. Candlestick Arrangement Currently, ETH is on a roll, adding 32.1 percent week-to-date. Trailing BTC, which is galloping and lifting sentiment across the board, ETH is technically undervalued. As a result, there is an opportunity for traders to capitalize on this by buying the dips in smaller time frames. Note that ETH is trading within a bullish breakout pattern against the USD. Revealing the strength of underlying momentum are wide-ranging bull candlesticks banding along the upper Bollinger Band (BB). It is a classic hint of participation. Therefore, to reiterate previous assertions, buyers are in the lead. Thus, every low is a ramping opportunity with targets at $400. Technical Indicators Leading this trade plan is June 21st trade plan. Not only did it thrust prices above $290 and $300 but behind it is high participation of 265k against 133k. As prices surge, trading volumes will likely increase in response while bulls increase their ETH allocations. Chart courtesy of Trading View. Image Courtesy of Shutterstock Ethereum Need Developers Now Than Never, ETH Surging, Up 32.1% was last modified: June 26th, 2019 by Dalmas NgetichThe post Ethereum Need Developers Now Than Never, ETH Surging, Up 32.1% appeared first on NewsBTC.
NewsBTC/analysis

Akropolis and ChainX partner to advance cross-chain interoperability for Polkadot

Akropolis and ChainX partner to advance cross-chain interoperability for Polkadot - CryptoNinjas ChainX, an inter-chain crypto-asset financial blockchain, and Akropolis, a protocol that enables the creation of a distributed financial network, have formed a partnership which is meant to advance the asset management / Decentralized Finance vertical within the Polkadot ecosystem. As Substrate evolves, the two teams will cooperate to support the efforts of both Parity, Polkadot […] Akropolis and ChainX partner to advance cross-chain interoperability for Polkadot - CryptoNinjas
CryptoNinjas

Simply explained: Blockchain scalability solutions past, present, and future

Simply Explained: Blockchain Scalability Solutions — Past, Present, and FutureAnd how Polkadot & Substrate fits into this ecosystemI recently gave a talk at Cogx about how blockchains scale. Where, we also discoursed how Polkadot fits into a future ecosystem where many blockchains are operating at scale.In the same vein, this post relays:A brief history of blockchain scaling solutionsPolkadot & Substrate’s role in this ecosystemPolkadot & Substrate’s layer 1 and 2 scaling solutionsNote: Many better articles have previously addressed blockchains scaling issues. If this topic is foreign, I suggest reading the Crypto Canon’s scaling primers here.Note: My views in this post do not represent that of the company which employs me. Feedback and suggests for improvement are welcome.A brief history of scaling blockchainsWhen Bitcoin first launched in 2009 it became clear that, by design, it traded off transaction speed for decentralization and security.Each block contained ~1mb of transactions. It took about 10 minutes to produce each new block. And it took another 45–60 minutes before you were sure your transaction had made it through.The philosophy behind Bitcoin’s decentralized vision drives the tradeoffs that define proof-of-work. The 10 minute latency and small block sizes are enforced constraints that make it possible for a node running on a laptop in Kathmandu to have a chance of finding a block.You wanted it to be possible for anyone, fighting through network latency and old specs to be able to maintain the integrity of the network.The point was that we achieved decentralisation & security by ensuring that anyone can process transactions.This came at a limit to how many transactions we could ask the network to process. Bitcoin aimed for ~20 transactions per second (tps), and in reality achieved about ~4 tps.Scaling through simple parameter tweaksNaturally, the first family of scalability solutions evolved around the idea that we could just stuff each block with more transactions.Bigger blocks! Smaller transaction sizes!To do this, we could simply make blocks bigger. Or, we could make each transaction smaller.Examples of such implementations were Litecoin and Bitcoin Cash which hard-forked from Bitcoin to with smaller transactions and larger blocks, respectively. In practice, these efforts yielded 2–10x tps optimizations.The fundamental issue with these scaling solutions was that each change required a hard fork. This required the community to rally behind the new chains and subsequently led to limited adoption. There’s also a practical upper limit to how much we can tweak these dials while still insuring decentralization ..Scaling through off-chain computationThe next round of solutions came about the realization that not all transactions are equally important.For example, processing a land deed agreement is likely more consequential than paying a friend back for dinner.Many transactions types, like micropayments, can be processed off-chain. The main chain could be a settlement layer. For example, you can process 20k transactions in a state channel or a side chain as quickly as you wish. Then, verifying them on-chain in bulk, just takes a single transaction [pictured below].Transactions can be processed off-chain and then reconciliated on-chainDoing things off chain reduces computation and storage load on the main chain. At the same time, it still gives you the benefits of on-chain reconciliation for transactions, over time.Examples of such implementations include Lightning network, Bitcoin’s off-chain transaction compute solution, which theoretically resolves more than 1M tps. There’s also Raiden. which provides payment state channels on top of Ethereum, and theoretically processes more than 100M tps. And notably, there’s Plasma, which spawn child chains from the main blockchain, theoretically handling an infinite tps.Some issues with doing things off-chain were that i) you were offloading these off-chain computations to centralized services and ii) as a result, you couldn’t get the security guarantee of an entire ecosystem maintaining the network & adhering to an immutable security protocol.Scaling through on-chain shardingAdditional solutions came about the insight that transactions cluster around different social communities.For example, transactions occurring within a shipping network in Singapore, vs. an eCommerce marketplace in Mexico, vs. freelancer community in Berlin, won’t often overlap.It made sense to adopt a traditional database concept of sharding. Where, within one blockchain, you can have different computing resources, nodes, handle different transactions in parallel.All transactions are processed on-chain but in different nodesIn theory, transactions are often contained in network clusters and are easy to parallelize.Examples of such implementations include Zilliqa, which developed a complex sharding algorithm.In practice, parallelization is very difficult. The challenges span from how to securely allocate transactions per node, to ensuring data availability among nodes, to resolving network asynchronicity issues...A simple edge case where there is a transaction C in node C, which depends on a transaction A in node A and a transaction B in node B, which in turn has other dependencies, compounded with the reality of network latencies… becomes difficult to resolve.And many more solutions…DagsThe list for brilliant, blockchain scalability solutions spans on. From blockchains that look less like chains and more like directed acyclic graphs [pictured above], to faster consensus algorithms like PoS, PoA, specifically mutations of federated BFTs and delegated BFTs that guarantee faster block finality & production… users now have a plethora of solutions to choose from.The challenge going forward might be around adoption.Aside from canonical chains like Bitcoin, Ethereum, and Eos, the majority of blockchains remain severely underutilized.Going forward, each chain in the ecosystem will need to find product market fit, given the scaling tradeoffs they have made.The important point here is that blockchains do scale.And blockchain scalability is, arguably, not one of the biggest blockers for consumer adoption going forward, as many pundits would posit.The future is a disparate ecosystem of blockchains, where adoption will be very tribal.The Blockchain Scaling Trilemma diagram helps us picture what this future ecosystem might look like.Blockchain Scaling Trilemma: image courtesy cointelegraph.comThe Trilemma posits that there is no silver bullet solution for scaling blockchains. At best, two out of the three criteria of scalability, security, versus decentralization can be satisfied.Each blockchain solution will always make some degree of tradeoffs that’s informed by its intended use cases and audience.In many ways, we’re already seeing these decisions become more formal and well understood by the community:Bitcoin & Ethereum 1.0 optimizes security & decentralization: as previously mentionedEthereum 2.0 optimizes scale and security: As, Vitalik confirms in this talk Eth 2.0 is about “targeting people who are building many, different small scale applications that can all talk to each other on top of Ethereum’s homogenous layer”. It is also about “ensuring lots of transactions”.IPFS optimizes scale and decentralization: IFPS trades off security (or rather consistency) aspects, like transaction ordering, for faster data transmission and a fully decentralized network. This works for its particular use case of transfering files and videos.EOS optimizes scale and security: Its delegated PoS means that token holders democratically elect a central team to represent their interests, which strays away from pure decentralization.In the future, each chain might continue to fall somewhere on the trilemma diagram. The best blockchains will be the ones that are highly customized for their use cases.A myriad of blockchain scaling solutions. Image Courtesy: Masterthecrypto.comBlockchain adoption is also fundamentally tribal.We’re already seeing that Ethereum is doing better in the west, as it is democratic and censorship resistant, which is quite a western notion.But if you look over in Asia, EOS is the protocol that’s getting significant traction. This is due to cultural reasons, local marketing advantages, and basic human nature to put our resources towards something we understand and whatever most reflects our cultural ideologies.I posit that in a future where, for our daily needs are fulfilled by blockchain solutions, we’ll likely adopt many individual chains. These chains will also be different across major geographic regions.Polkadot & Substrate’s role in this ecosystemIf you’ve made it this far, you might observe that scaling blockchains won’t be the main challenge in the future.The protocols themselves have already done a good job of scaling, making trilemma tradeoffs that make sense for their particular use cases.But at the end of the day, all of these chains will all need to talk to each other.Going forward, overcoming blockchain interoperability may be a more pressing issue.That’s where Polkadot and Substrate come in.“Polkadot is a network that connects blockchains.”When there are a myriad of solutions focused on scaling a single chain, Polkadot tries to scale an ecosystem of these single chains.Polkadot as the connector & security guarantee between these heterogenous blockchainsIt’s a network interface that lets one chain talk to another, despite different consensus algorithms and token economies.For example, if you own a Bitcoin UTXO, you’ll be able to spend it in the ZCash protocol. If you send a transaction in an Ethereum Dapp, say CryptoKitties, you’ll be able to triggers a chain of other actions in Eos. And, if you are a private blockchain network, you’ll be able to reconciliate your records with Ethereum.Rather than replace these blockchains, Polkadot bridges these homogenous protocols to each other. This gives the end user access to an entire ecosystem of heterogenous blockchains.The analogy here is: if Ethereum and Bitcoin are the London and New Yorks of the world, then Polkadot is an information highway connecting these metropolises. And Substrate (is an open source framework) that lets you erect the future cities to come.Polkadot & Substrate’s layer 1 and 2 scaling solutionsIn this last part, I wanted to dive into the specifics for how Polkadot and Substrate can scale a single chain.Interestingly, in Polkadot, scalability occurs as a side effect of figuring out interoperability.Scalability as a side effect of interoperabilityA single blockchain gains the ability to horizontally scale itself once it joins the Polkadot network.After a chain reaches peak capacity, it can create a new instance of itself and thus parallelize execution.This new chain connects to the ecosystem by default, enjoying the benefits of shared security and interoperability of the network.To the user, nothing has occured. Behind the scenes, a single business will be able to horizontally scale itself in minimal time, ad infinitum.You can read more about how this works hereAdditional Scalability OptimizationsSubstrate, the open source blockchain builder behind Polkadot, also provides some scaling optimizations out-of-the-box, at the individual chain level.ConsensusNotably, Substrate is PoS and provides a fast, hybrid consensus mechanism. Grandpa is a near instant block finality gadget, which just means that it can quickly conclude your transaction are valid. Conversely, Babe is a fast block production gadget, which just means you get new blocks very quickly. I believe Babe is currently tuned to produce a new block every 6 seconds.You can read more about how this works hereSmart economicsSubstrate provides default incentive structures to help you deter user behaviors that slow down the network.The network uses transaction weights to calculate transaction fees. Users will be paying directly proportional to compute resources and storage needs. More granular fees structure discourages nonessential writes to on-chain storage and other bad habits that typically blight a blockchain.You can read more about how this works hereOff-chain computeSubstrate provides a special off-chain workers service for heavy computations that take longer to run than a single block interval. This is useful to process intensive computations, oracle queries, encryption algorithms, and generally lighten the load on-chain. This functionality is a part of your blockchain’s default runtime.You can read more about how this works hereUpgradeable runtimesLastly, it’s important to note that Substrate builds meta protocols. This means that anything launched at genesis doesn’t have to be final. You can subsequently introduce optimizations like any state channel solutions, parameter tweaks, and even quantum consensus.You can read more about how this works here (thanks to WAsm)Liked what you read?We’re hiring developers to build blockchains & share them with the world! Come join the developer freedom @ParityTech, and build open source for Web 3.0.Want to do something else? Check out more roles here.Try it out Substrate, an open-source blockchain builder, here.Have someone in mind? Share this post with your network!CitationsCover photo by Aleksandar Pasaric from Pexelshttps://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/hrefSimply explained: Blockchain scalability solutions past, present, and future was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
Hackernoon

Komodo Platform’s Antara Framework: Another Giant Leap For Blockchain

Multi-chain integration is to blockchain what the assembly line was to Henry Ford. One-off customization is fine for Bugatti; but for the rest of us, practicality and price matter. Ford’s genius was to use the practicality of the assembly line to bring automobiles within the price range of the ordinary person. A hundred and thirteen years after formation, Ford is still one of the world’s largest family-owned businesses. As blockchain evolves, we can see the same philosophy that Ford brought to cars echoed in the projects creating exceptional value in the market today. Blockchain ecosystems like Cosmos, Ontology, and Polkadot are all the rage, creating a ton of market buzz and beginning to turn the industry away from the boutique and towards mass enterprise adoption. Interoperability finally seems to be a priority for more than a few specialized players in the market.  In the meantime, Komodo, the original multi-chain platform, keeps quietly progressing. Komodo has offered independent blockchain creation since January of 2017, but it’s about to offer a range of services and products that have rarely, if ever, been seen in this arena before. The platform is undergoing a massive overhaul this summer, launching the Antara framework on July 15, with a new website, a new visual identity, an updated white paper, and a partner network program. And the possibilities are spectacular.     Like the growing range of multi-blockchain technologies, Komodo’s ecosystem focuses on decoupling services that have traditionally depended on centralized singular blockchains in previous iterations of the technology. Security, for example, is normally is shared on singular blockchain networks. Komodo instead offers security that is separated from a central agency via Delayed Proof of Work, or DPoW. Scalability is an obvious advantage of this variation on the tech, offering independent solutions and autonomy for individual developers. “Single chain is simply not the best solution for scalability, autonomy, or security” Komodo CMO Steve Lee explains. Sovereignty on the blockchain One huge advantage of a multi-chain ecosystem, Steve Lee argues, is sovereignty. With Komodo, developers own their network solution, rather than being forced to raise funds in the host network’s currency, like Ethereum, for example. Once a developer launches a chain on Komodo all transaction fees are paid in the native coin of the created smart chain.Steve Lee, COO of Komodo Sovereignty extends to Komodo’s “smart chains” — an evolution of Komodo’s “asset-chain” technology, with a greater emphasis on baked-in composability and programmability. Smart chains are considered the first “layer” of the new Antara framework. These smart chains can have their own consensus rules, their own network, and launch their own unique currency, with transaction fees paid natively instead of via the KMD currency. Komodo at the core, Antara framework on top Komodo functions as two “chips”, Lee explains, with the Komodo core handling decoupled DPoW, scalability, interoperability, and updates for life for all users. The second “chip” is Antara — previously known as the over-simplified “crypto-conditions”. Blockchain services are built into the chain, enabling easy plug-ins that can be added as developers choose. With the open ecosystem of Antara, developers can create and share solutions, adding their solutions to a collective dynamic library. This ease-of-use encourages adoption of the technology. For the head developer at Komodo, James Lee, adoption is the key goal, so development needs to be as easy and free of barriers as possible. Komodo is therefore built as the core foundation, with Antara functioning on top of the structure. Antara’s contract-base front-end can then be used to insert written code into the chain as custom modules for an unlimited myriad of utilities. Antara Modules are written in C/C++ programming languages so they are Turing complete. This means that Antara Modules can be programmed to perform any processes that other existing applications or software do, all while running natively on your Smart Chain.James Lee, Head Developer at Komodo Rent or own? To get a clearer picture of the uniqueness of this ecosystem, think of this simple comparison. “It’s like choosing between leasing and owning a property”, Steve Lee explains. “When you lease a spot, like on the Ethereum blockchain, you are not guaranteed of certain important elements. Gas costs, for example, can vary wildly. You have to wait on the platform developers to fix bugs that affect the entire ecosystem. You depend on the Ethereum core team to fix the problems.” Unlike Komodo, Ethereum operates as a monolithic mainframe upon which all tokens depend. Fixing the system is much like trying to repair a car while driving it. Komodo, on the other hand, is more like owning property. The infrastructure allows developers to run independent blockchains, where changes can be tested separately and implemented or adapted to a range of blockchains when ready. The developer’s autonomy is much greater and not nearly as dependent on a central core of people. Using Antara, developers can create oracles; their own token DEX; stable coins; non-fungible tokens; and so forth, all while operating independently, but secured via Komodo. Because of Antara’s plug-and-play functionality, modules like the Quantum-secure digital signature scheme, Dilithium, can be added to any chain on the network. For mass multi-signature transactions, the MuSig plug-in can be utilized. Developers can take Komodo technologies like these, that have been developed already, and simply plug them in to their own chains. Since they are contained separately, there is no need for them to be fully integrated into the superstructure, so there is much more room for experimentation and customization. Building a chain in a minute Antara enables web-based blockchain creation, with a myriad of configurable parameters, spun up easily on to AWS, literally within a minute. There are 18 different ways to customize a Smart Chain, according to Komodo technical writer Daniel Pigeon. You can choose your consensus rules, hashing algorithm, pre-mine supply, block time, block rewards, size and frequency of reductions in block rewards, privacy settings, and more. Networks on Komodo can operate a single chain or instead launch multiple chains for greater performance demands. The created chain can then be launched via the AWS Partner Network, with “AWS cloud computing services available to create both seed nodes and mining nodes for any Smart Chain.” One of the greatest advantages of such a system is its built-in security. Normally a small network with relatively little mining power would be highly vulnerable to attacks. Every chain built via Antara, no matter how niche, enjoys Bitcoin-level security thanks to Komodo’s Delayed Proof of Work solution. DPoW harnesses Bitcoin’s enormous hashing power to secure all chains, mitigating security and integrity concerns. Komodo has signed up a number of blockchain-agnostic partners to act as development houses, creating modules on Antara that can then be shared for everyone to use on the network. These development houses will provide training and replicate modules which can then be added to the open ecosystem library. A number of independent chains are already operating in Komodo’s ecosystem, including Hush, Einsteinium, and GameCredits. Hemp Coin (THC) is in the process of fully migrating to the Komodo ecosystem. Developers can choose to operate as a side-chain of Komodo or to be completely integrated, like Hemp Coin, with the full feature set provided by the Antara service. With such a vastly adaptable framework, developers can collectively build a platform for their specific needs with a virtually infinite variety of services. The chain is shared and fully interoperable, so all updates are automatically shared. Through this system, developers can build their own independent blockchain, but still benefit from all the updates to the larger ecosystem. Komodo’s white label products Komodo also offers a growing range of white label products that can be accessed by anyone building on the platform. These include “a multi-coin wallet, mobile atomic swap DEX, custom block explorer, decentralized crowdfunding application, and SPV server integration.” Komodo’s DEX is in development, currently in closed beta. The DEX will be a true, fully decentralized atomic-swap exchange, supporting the swapping of any coin without the need for any intermediary party. It is a truly peer-to-peer exchange which will include P2P communication features. Interestingly, the DEX will even provide atomic swaps on mobile devices. Previously, Steve Lee explained, such an exchange would not function on mobile due to stability limitations of mobile internet. With an improved BitTorrent layer, swaps of this nature are now finally possible. The Komodo wallet, Lee explains, is being revamped as well, with new multi-coin support and a built-in atomic-swap DEX. Liquidity for the DEX, Lee explains, will be accomplished on the back-end with shared pools acting as liquidity providers. More liquidity could be added via coin communities, market-makers, and even OTC-based atomic swaps. A new emphasis on composability With the rebrand, James Lee has decided to stick with the Komodo name, but will be refreshing the brand with a new whitepaper, new features built on Antara layer and an emphasis on composability and smart-chains. Composability and flexibility are highly important, with the ability to create and provision hardware to applications dynamically as needed. Resources can be re-assigned dynamically via the shared resource pool. Chains can be spun up, taken down, or altered in purpose on the fly. Lee compared Komodo’s rapid development with the evolutionary progression of blockchain technology: Bitcoin began it all, acting as a sort of complex calculator. Ethereum moved the tech forward, acting as a sort of mainframe, with terminals plugging into a supercomputer. Composability, Lee argues, is the next step forward, providing a library of tools via the Antara module system. This framework will be simple to implement, but flexible enough to enable growing complexity and adaptability over time.   Note: although we discuss the technical specifications and use-cases of Komodo extensively in this piece, please be aware that this is an editorial piece and not one of our deeper digital asset research reports, which are conducted by our analyst team for our upcoming SIMETRI research platform. SIMETRI will be available to subscribers later in June. These reports will be primarily aimed at investor-enthusiasts seeking insight into the long-term fundamental drivers of value in a given project. If you are not currently subscribed to our newsletter, please feel free to drop us a line and we can add you to our list: info@cryptobriefing.com   The post Komodo Platform’s Antara Framework: Another Giant Leap For Blockchain appeared first on Crypto Briefing.
CryptoBriefing

Ethereum Co-Founder’s New Crypto-Project Now Worth $1B

Polkadot, one of the most highly anticipated blockchain projects that have yet to launch, already has a staggering $1… The post Ethereum Co-Founder’s New Crypto-Project Now Worth $1B appeared first on Invest In Blockchain.
Invest In Blockchain

Despite $1.2B Valuation, Ethereum Co-Founder’s Polkadot Project Could Be Having Troubles

Coinspeaker Despite $1.2B Valuation, Ethereum Co-Founder’s Polkadot Project Could Be Having TroublesBlockchain project Polkadot’s bid for a $1.2 billion valuation is finally happening, although, maybe not how the company has planned it at the first place.Since the beginning of this year, the Switzerland-based nonprofit organization behind the project, the Web3 Foundation, has been trying to raise up to $60 million through a private token sale. It seems that finally, three Chinese funds have agreed to invest $15 million in the project’s DOT tokens.However, it seems that in the short term, the investors who are interested in the project are willing to pay prices that would value the project under $1 billion.Polkadot Selling Only 70 PercentWhile it’s unclear how many tokens were offered, one source said Polkadot has been able to sell only 70 percent of the intended 500,000 DOT.However, if we look the beginning of the story, it has all started when Gavin Wood, who was the first programmer to code Ethereum creator Vitalik Buterin’s white paper, set out a vision for the decentralized Web3. Wood is also a co-founder of the Parity technologies, a company that had pioneered in on-chain governance protocol upgrades, Proof-of-Authority consensus, private Ethereum transactions, Warp sync and pruning and also “Rust and Wasm” in blockchain.Polkadot goal is, as Wood explained, solving several current problems in crypto, beginning with scalability. This blockchain based company is trying to enable cross-blockchain transfers of any type of data or asset, not just tokens.In the beginning, each so-called “para-chain” may be domain-specific, such that there could be on para-chain devoted to assets and one devoted to smart contracts. However, over time, if certain decentralized apps become large enough, they could become their own para-chain, and the structure of para-chains could become more hierarchical. That is also one of the reasons this “failure” in raising funds could change for better.Polkadot will however probably have to increase the allocations of tokens to reach the value of $60 million.Still Optimistic and ExcitedParity CEO Jutta Steiner said the firm is excited about the new possibilities Polkadot can bring to the table. She added:“True interoperability delivered in a scalable, governable protocol has real potential to push the dream of an open internet forward. We’ve been hard at work over the past year building [custom-blockchain platform] Substrate and development on Polkadot has progressed as hoped.”Bare in mind that in the in October 2017, the Web3 Foundation managed to raise $145 million through a public sale of half the total 10 million supply of DOT, valuing the tokens around $30 per piece. (The tokens currently run on top of Ethereum but would be swapped for ones on the new blockchain once it launches.)According to Polkadot’s white paper, 30 percent of the total token supply was reserved for Web3 Foundation, and the remaining 20 percent should be distributed prior to the mainnet launch. Web3 has spent half of its allocation, leaving it with 15 percent of the total supply, said a source familiar with the situation.Despite $1.2B Valuation, Ethereum Co-Founder’s Polkadot Project Could Be Having Troubles
Coinspeaker
More news sources

Polkadot news by Finrazor

Trending

Hot news

Hot world news

Coin Source Will Bring Dai to Its ATM Users

Stable currencies are all the rage as of late, primarily because they aren’t prone to the price swings and volatility one often witnesses with mainstream digital assets such as Ethereum and Litecoin. If you want to invest in crypto but are nervous about the prospects, stable currencies could be the answer. Now, they’re earning an even larger boost through companies like Coin Source, a Texas-based operator of cryptocurrency ATMs. Coin Source Brings Stability to Crypto The venture recently announced that it would be adding the stable asset Dai to its many ATMs located throughout the southern United States this summer. The addition of the coin is “in preparation” for what the company calls a widespread remittance program, in which workers will be able to send money home to their families in the form of Dai or other cryptocurrencies that they can trade or sell. Travis Gough, chief product officer at Coin Source, comments: In remittances, people want to save as much value and they don’t want to be subjected to the high volatility that you’re seeing in bitcoin and other cryptocurrencies that can be very speculative. Price swings are a persistent worry in the crypto space, and likely never to leave enthusiasts’ minds fully. At the same time, it’s easy to suggest that currencies like bitcoin are suddenly easier to accept given these swings are now traveling north. Since April of this year, bitcoin has been enjoying a serious bull run, having jumped by nearly 200 percent in just the last three months alone. After a lengthy period of traveling through the doldrums at the mid-$3,000 range, the currency began its new string of price spikes last April with a sudden (and unexpected) jump to $5,000. The good news this time around is that bitcoin’s sudden behavior is likely being sparked more by market trends, which will make this bull run more stable than the one that occurred in 2017, reportedly the subject of manipulation by users of the stable currency tether. Along with bitcoin, currencies like Litecoin have also surged in price, heightening the crypto space’s present levels of legitimacy. A New and Improved Way to Send Money The Coin Source remittance service – which will at first be available to customers only in the United States – will allow ATMs to transfer Dai and other digital assets between wallets. Once a customer receives funds, they can forward them to the wallets of selected parties granted those parties have satisfied all of Coin Source’s know-your-customer (KYC) requirements. Receiving individuals can then confirm the funds and trade or sell them accordingly. All transactions occurring by way of Coin Source are recorded onto the Ethereum blockchain. At press time, the company operates more than 230 ATMs in nearly 30 states and in Washington D.C. The post Coin Source Will Bring Dai to Its ATM Users appeared first on Live Bitcoin News.
Live Bitcoin News

Amun AG Launches New Exchange-Traded Product With Data Provided By Bitwise Crypto Index

The fintech firm based in Switzerland, Amun AG, released its new plans to launch an exchange-traded product (ETP) using Bitwise 10 Select Large Cap Crypto Index as a benchmark. The Swiss SIX Exchange has already allowed several other ETPs to operate in the country. Amun AG Works On New ETP Bitwise Index Services has just […]
Bitcoin Exchange Guide

Chainlink (LINK) is launching on Coinbase Pro

Transfer LINK immediately into your Coinbase Pro account ahead of trading. Support for LINK will be available in all Coinbase’s supported jurisdictions, with the exception of New York State. Additional regions may be added at a later date.After 10am PT on June 26, 2019, we will begin accepting inbound transfers of LINK to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading.Once sufficient supply of LINK is established on the platform, trading on the LINK/USD, and LINK/ETH order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. Support for LINK will be immediately available in all Coinbase’s supported jurisdictions, with the exception of New York State. Additional jurisdictions may be added at a later date.Chainlink (LINK) is an Ethereum token that powers the Chainlink decentralized oracle network. This network allows smart contracts on Ethereum to securely connect to external data sources, APIs, and payment systems.Please note that LINK is not yet available on Coinbase.com or via our consumer mobile apps. We will make a separate announcement if and when this functionality is added.The stages of this launchThere will be four stages to the launch as outlined below. We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.We will send tweets from our Coinbase Pro Twitter account as each order book moves through the following phases:Transfer-only. Starting at 10am PT on June 26, customers will be able to transfer LINK into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time.You can sign up for a Coinbase Pro account here to start trading. For more information on trading LINK on Coinbase Pro, visit our support page.Chainlink (LINK) is launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
The Coinbase Blog
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.