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What is Ethereum 2.0? We Reveal its Unclear, Uncertain, Yet Promising Future

For the past few months, Ethereum 2.0 has been a hot topic in the crypto space. People are patiently waiting to see how the second most popular cryptocurrency can showcase its new and improved speed, scalability, and security features through a series of updates. The updates are aimed at addressing current scaling, mining and consensual protocol, and security issues include moving from proof-of-work to proof-of-stake, solutions like Beacon Chain, Casper FFG, Sharding, eWASM, Plasma, Raiden, and perhaps most anticipated, Serenity. Serenity is supposed to be an ‘all-in-one’ solution to fix the various problems highlighted by Ethereum 1.0. It combines most of the Ethereum upgrade ideas (Sharding, eWASM, Proof-of-Stake, etc.) together on a new parallel chain that would run alongside and be fully compatible with the existing chain. Breakdown of Ethereum 2.0 solutions Proof-of-Stake (PoS): Beacon and Casper are the 2 PoS solutions that aim to improve how new Ethereum coins are mined and how transactions are validated. In PoS, there is no mining which means there is no block reward; the block creators are called Forgers (instead of Miners as in PoW). They are only being incentivized with transaction fees. The Forgers of the next block are elected through a random procedure according to the Forger’s stake (amount of coins the Forger stakes) and age. Sharding is the process where the entire state of the network is split into a number of partitions called shards that contain their own independent piece of state and transaction history. This addresses issues of scalability and transaction speed and stops one app from slowing down the network. eWASM allows code to execute faster by expanding the coding options and capabilities for the Ethereum Virtual Machine. Plasma is an extra layer that sits on top of the network to handle massive amounts of transactions. It is basically Ethereum’s version of Bitcoin’s Lightning Network. Raiden, like Plasma, is categorized as an off-chain scaling solution, and therefore can also be compared to the Lightning Network. Rather than processing the transactions on the main blockchain, Raiden uses state channel technology to move transactions off-chain and open a separate payment channel. We can see that the Ethereum development community clearly has their work cut out for them to bring these upgrades to life. However, according to a recent report published by Matt Slipper and Dan Tsui of Kyokan (a blockchain-native software consultancy based in the bay area), things don’t seem to be running very smoothly behind the scenes. The main takeaways from the lengthy document are that: Ethereum 2.0 has no person in charge of orchestrating the rollout of the upgrades. Ethereum 2.0’s implementation has been stalled by the specification constantly changing, particularly over the past 6 months.  There is significant miscommunication on timeframes occurring between research people and the rest of the team. People working outside of R&D are out of the loop regarding when new features are ready to roll out. Implementers are concerned that perhaps there may be a funding shortage. The team is currently committed to working on Ethereum 2.0, but only as long as funding exists for development. If the funding dries up, then these teams may be forced to find other work. The rate of change in the specifications of features is only discouraging the implementation team more.  In response to the need for clarity, research has started to version segments of the specifications to show what is ready and what needs to be changed. It is now believed that Ethereum 2.0 won’t be transformational for smart contracts until cross-shard communication is live and phase 0,1, and 2 of the release are complete. The implications of this document are quite significant. A lot of pressure has been put on the Ethereum developer community over the years to achieve the kind of scalability that Bitcoin has failed to do so far. For Ethereum, achieving scalability is not just about making it easier to send and receive ETH, it’s about improving the speed in which the entire network operates so that it can handle huge traffic spikes that will inevitably occur as more Dapps get released on the Ethereum blockchain. It’s also about being able to securely scale smart contracts so that they can one day be used for more than just gambling applications, for instance, real-life financial transactions (such as loans or remittances). There does seem to be some useful recommendations to improve the situation, such as: Including “Product Context” In Public-Facing Media (Clearly communicating what will be delivered and when as well as how to prepare for the release of Ethereum 2.0) Provide clear avenues for continued funding Rigorously defining and enforcing a formal standards process Ultimately, the long-term viability of the entire Altcoin market may very well depend on Ethereum 2.0’s ability to succeed.  Decentralization has its clear benefits when it comes to increasing transparency and security of complex networks that transfer valuable data between members. However, when it comes to advancing the development of these complex networks, it seems that a more centralized project management approach is needed to ensure the kind of streamlined workflow and maximized productivity that will allow the best version of the Ethereum network to see the light of day. The post What is Ethereum 2.0? We Reveal its Unclear, Uncertain, Yet Promising Future appeared first on CryptoPotato.
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Fasttoken Goes Public with Its State Channels Code

Any blockchain developer understands the difficulty that comes with scaling decentralized applications (dApps). The problem of scalability has been in existence right from the introduction of blockchain technology. The introduction of solutions such as state channels, targeted at solving the problem of scalability has done little to alleviate the discomfort resulting from the poor scalability of blockchain based platforms. This could be blamed on the complexity of the solutions or the fact that no one is keen on teaching how to use these solutions. Fasttoken Is Changing the Face of Decentralized Gambling  The Fasttoken team recently showcased their blockchain-based casino games demo at the gambling industry’s largest event – ICE London. The casino games demo showcased at the event has been in development for the past six months. Furthermore, Fasttoken also announced unrestricted access to its state channels implementation. According to the announcement, the codes are well tailored to be used in the gambling industry. Following in the footsteps of the Lightning Network and Raiden, state channels have also made major improvements to some key aspects detailed below: Scalability – Now millions of transactions can happen in seconds. Speed – The state channels feature an incredible blockchain confirmation speed, being reduced to seconds or milliseconds.High Costs – There is a no gas fee configuration, and a low fee is being charged during blockchain updates (an infrequent occurrence). Blockchain technology has found its use in many industries. This means any solution aimed at providing scalability to blockchain networks should be well adapted to be used across multiple platforms. Unfortunately, the two most popular solutions, Lightning Network, and Raiden are limited. The Lightning Network is developed mainly to serve as a fast payment and fund transfers solution and Raiden boasts a broader use case, such as several decentralized applications, decentralized exchanges and IoT (Internet of Things). However, Raiden is not well suited for custom gambling solutions, like state channels. Developers can also employ application-specific state channels to develop turn-based systems e.g., games) entirely off-chain as well as use them to settle payments (bets) in games played on-chain. A perfect example is slots. While playing this game, a player could place a bet of 10 ETH and earn 20ETH when winning. In light of this, Fasttoken has released a unique technology which is based on the fundamentals of state channels. The newly released technology is identified as “Fast Channels.” The First to Publicize Its State Channels Implementation In its effort to better the decentralized gambling ecosystem, Fasttoken is now the first project to publicize its state channel implementation. Currently, we have several blockchain-based gambling platforms in the market, but none of them has made their state channels public. This change is expected to spark competition which will, in turn, lead to the development and implementation of more solutions. Since the main purpose of blockchain technology is to improve humanity, how good is the solution to offer one’s underlining codes and library? Although effective when it comes to ensuring security, the design of the blockchain is faulted in terms of scalability. The blockchain is designed to record all transactions on it and the ledger continues to grow a faster than the number of network nodes. This exponential growth in the number of transactions has subsequently resulted in a storage and computation crisis. The transactions data store becomes too much for the network participants to handle. This issue also transfers to dApps, since they are based on the affected blockchain. Taking this into account, several blockchain developers are actively searching for a way out of this complex network inflicted problem. The availability of several options to select from has not helped the cause. If anything, it has led to scattered attention, since various developers are now exploring different approaches all at once. Strategies such as sharding, side channels, and state channels top the list. In light of this, the Ethereum teams have promised to implement native support for state channels before the year ends. This is expected to make the network more developer-friendly. Although something to look forward to, Ethereum’s announcement has not stopped other ambitious platforms such as Fasttoken from stepping up. The development of the fast channels solution and the publicizing of its codes has provided blockchain developers with the perfect tool to engage with codes and conveniently build blockchain platforms (including gaming platforms) with minimal efforts. The Fasttoken team wants to be sure that the players are provided with a phenomenal gambling experience. They will be educating developers and share their expertise with the community, improving blockchain technology by all means necessary. About Fasttoken Fasttoken is a blockchain based gambling focused solution on a mission to ensure and uphold the integrity of the decentralized gambling ecosystem. Visit the project’s official Telegram group for up to date information directly from the Fasttoken team. The official project’s website – Fasttoken.com, also serves as a portal to the latest developments. Readers can also check out their official GitHub page at https://github.com/BetConstruct/Fasttoken or contact them via contact@fasttoken.com.  “This announcement is just the beginning, a lot more is on the way, and trust us, you don’t want to miss out on any of that.” – the Fasttoken team. The post Fasttoken Goes Public with Its State Channels Code appeared first on Bitcoin Garden.
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Fasttoken Makes State Channel Codes Public

Many popular blockchains, including Ethereum, are trying to tackle the problem of scaling as their network rapidly expands. One of the various approaches proposed is the use of state channels. State channels enable transactions to be conducted off the blockchain directly between network users, based on on-chain information. Fasttoken and State Channels At ICE London, a large business-to-business gaming event, Fasttoken revealed their blockchain-based casino games demo, which has been in the works for six months prior to its unveiling. But Fasttoken also has another groundbreaking reveal that it wants to make to the crypto community.  Its team has declared that it will be opening complete access to all codes used in implementing their state channels, which have been made especially to be applied in the gambling industry. State channels can bring several improvements when implemented in a blockchain: more transactions can be processed in a matter of seconds. confirmation times, which can usually last several minutes, are reduced to mere seconds or milliseconds. costs are lowered, no gas fees are incurred and only some fees are charged for a small number of necessary updates. There are, of course, other possible solutions that are considered for scalability improvements, such as Lightning Network and Raiden. However, the former was developed for faster payments and the latter as an environment for developing various apps and platforms. This is why state channels are best suited for platforms focused on gambling. State channels can be customized to be used for this specific application by allowing developers to set payments/bets off-chain, which are resulted from the on-chain game. This type of technology can be used in slot games where players bet 10 ETH, and if they win, they receive double the amount. The transaction in which the 20 ETH is sent to the winner is conducted off-chain through the use of state channels. Because of this, Fasttoken created its proprietary state channels called Fast Channels. Blockchain and gambling platforms Fasttoken has implemented the required procedures for publicizing their state channel code. Many gambling platforms which run on blockchain claim that they implement this technology to improve the betting and settlement process. However, none of these state channel codes have been publicized. But why use blockchain if you won’t make any of your codes open source? Isn’t the point of this technology to be transparent to everyone, especially developers? The Fasttoken team is among the very first to make the codes to its state channels available to public access. Blockchain nodes store all of the transactions that take place on the network, which results in the fast expansion of transaction ledgers. But with the rapid growth of a network in terms of transactions, its efficiency is impaired as more computational power is required. When the number of operations exponentially grows, and the blockchain cannot scale, various solutions to help this issue have been developed to make the network cope. Several solutions have been debated, including sharding, side channels, and state channels. Ethereum intends to develop the popular dApp blockchain on its platform support for state channels later on this year, which is a good sign for this solution. In the meantime, Fasttoken can aid developers to access the codes needed in creating blockchain platforms or other dApp functionalities. They will no longer need to build the platforms by themselves, thus simplifying the developmental process. The Fasttoken project is among the first gaming platforms that use blockchain implementations in order to improve the betting experience. By opening this information, the team hopes to educate others and ultimately lead to the improvement of this technology. You can find all the materials on Fasttoken’s GitHub channel. Fasttoken is an Ethereum based solution which is aimed at providing a gambling environment that is transparent and fair for all its players and interested developers. For those that have questions regarding the project, they can join the official Telegram group and ask the Fasttoken team themselves. Readers can also visit Fasttoken, the official website, for more resources and updates about further developments and advancements. The Fasttoken team declared that “this announcement is just the beginning, a lot more is on the way, and trust us, you don’t want to miss out on any of that.” This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of NullTX. This is not investment, trading, or gambling advice. Always conduct your own independent research. The post Fasttoken Makes State Channel Codes Public appeared first on NullTX.
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Fasttoken – Ethereum-based gambling platform that makes its state channel codes public

You don’t have to be a blockchain developer to know that one of the most pressing issues most crypto platforms struggle with is that of scalability. Over the years, various good solutions have surfaced. Technologies such as sharding, side channels, and state channels have all proved that scalability can be tackled successfully. In regard to the latest of the lot, state channels, there is no company more bent on sharing its experience and helping the industry evolve than Fasttoken. Enter Fasttoken And, what better place to showcase its blockchain-based casino games demo then at ICE London, the industry’s largest and arguably most important gambling event? After six months of development work, the Fasttoken team announced what can be considered a very rare event in the blockchain space: it is opening the full access to all codes regarding their state channels implementation. The end goals of state channels are very similar to those of Lightning Network and Raiden, some of the most popular scalability-related solutions. State channels improve the following essential aspects: The number of transactions per seconds increases so drastically that it improves scalability The confirmation times for transactions on the blockchain is lowered to a couple of seconds or milliseconds The gas fees within state channels are next to non-existent, reducing the overall fees on the blockchain ecosystem by a lot; all this while still ensuring highly secure and transparent transactions. Both the Lightning Network and Raiden have very broad use-cases. For example, the Lightning network is especially good for payment solutions that require quick transfers of funds. Raiden can easily serve as a platform for various decentralized applications, decentralized exchanges, and IoT (Internet of Things) apps. However, when it comes to creating custom gambling solutions, none is better than state channels. State channels can be implemented in turn-based systems (usually associated with the gaming industry). This allows developers to use state channels to those types of systems entirely off-chain, and process payments and bets based on the outcomes of the games on the chain. Fasttoken has built its own bespoke technology called Fast Channels, a technology that’s based on all the fundamental of state channels. Fasttoken’s views on technology and knowledge sharing Blockchain companies can be secretive in regard to their technologies, mostly out of fear of losing their market edge. Fasttoken is not one of those companies, as the team behind the project truly believes that healthy and open rivalry among competitors is extremely beneficial for the industry as a whole. Even though the market already has some platforms offering blockchain-based gaming experiences in a transparent manner, none of them have shared their knowledge or made their code public. The team behind Fasttoken believes that not making your project’s code open source so that others can learn what you have learned is a massive setback for the industry. That’s exactly why they are the first company to make their state channels available for public access. Scalability is not a new issue in the blockchain sphere, as many popular projects are still struggling to find effective ways to counteract its effects. We live in exciting times as technology has reached a level of maturity that allows for more than one solution for overcoming this technical barrier. Nowadays, the standard technologies for fixing scalability are sharding, side channels, and, ultimately, state channels. A very promising development in the industry is represented by Ethereum’s future plans of introducing state channels sometimes later this year. This will speed up the development process of the said technology, but it will also make it a lot more user-friendly and more accessible to developers. Until this happens, Fasttoken is here to support any blockchain developers who are interested in implementing state channels in blockchain-based platforms, including online gambling platforms. The team is excited to share its expertise and skills and actively contribute towards not only the evolution of the technology but also towards improving the whole gambling industry. It really seems that shared knowledge is the key to blockchain evolution. You can find all the materials on Fasttoken’s GitHub channel. … Fasttoken is a ground-breaking Ethereum project that provides fully decentralized and completely transparent wagering, betting, and gambling solutions. For more information, you can join the official Telegram channel, or send the team an email at contact@fasttoken.com. The project’s code can be viewed by checking out the project’s official GitHub repository. Furthermore, Fasttoken.com is another excellent resource if you want to make sure that you stay up to date with the latest developments. “The official release and publicizing of our state channels is just the beginning, and there’s a lot more to come. Stay tuned and make sure you don’t miss out on all the things that are about to come” – Fasttoken team. The post Fasttoken – Ethereum-based gambling platform that makes its state channel codes public appeared first on Ethereum World News.
Ethereum World News

FastToken Blockchain Casino Gambling Games Shares State Channels Codes for Public Viewing

After the platform has been in an active development process for the past six months the company has gone ahead to showcase their casino games that have been blockchain based; all this was done at the ICE London. The ICE London has been considered to be the largest gambling event within the industry, one that has been able to bridge offline and online gaming ecosystems. The team went ahead to announce what they have regarded to be one of the most groundbreaking news within the blockchain space. And this is the opening of the full access to all the codes that are regarding their current state channels implementation that has been uniquely adapted on the gambling industry. It has been made to be a little similar to the Lightning Network and the Raiden, but the state channels have also significantly improved several aspects within the system, and they are as follows. There is scalability – they have increased the number of transactions that are taking place per second; thus it is able to reach millions potentially. Greater speed within the system – the transaction and confirmations with the blockchain technology tends to be time-consuming, averaging to take a couple of minutes, but with this system, it has reduced it to just take a few seconds. The issue of high cost – the good news is that there are no gas fees within these channels; thus, there are minimal fees that are paid during the blockchain updates. While all this is happening the transactions within the system, have been made transparent and secure. It is time to keep your eyes peeled The Fasttoken is very proud to be the first team that has been able to take the necessary steps to publicize the implementation of their state channels. The team is convinced that with the healthy rivalry that is taking place among the competitors will be beneficial to the growth of the industry, users and the players. Currently, the market has already had many platforms that are offering the users gambling experience based on the blockchain technology in a very transparent environment. But to date, none of these platforms have been able to unveil the code they have been using in the state channel implementation. As the company is among the very first initiators of the gaming platform that has been based on the blockchain technology, they feel they are responsible for improving and providing the best gambling experience to their users. Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 12th)
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Fasttoken – the First Gambling Platform to Reveal its State Channel Codes!

CoinSpeaker Fasttoken – the First Gambling Platform to Reveal its State Channel Codes! Introducing Fasttoken’s State Channels Fasttokens’ developers have been working for over six months at a demo of blockchain-based casino games which they then presented at ICE London, a massive event that focuses on both online and offline gaming sectors. In addition to this, the presentation was also accompanied by the official announcement that the team will be opening all codes used in their state channels implementation, especially adjusted to suit its use in the gambling industry. The implementation of state channels in a blockchain network brings the following advantages: greater scalability – millions of transactions can be processed in just a matter of seconds. improved speed – blockchain confirmation times will be done in seconds or milliseconds. lower costs – no gas fees are charged, and minimal fees are paid during rare blockchain updates. There are other technologies such as Lightning Network or Raiden which have been considered as solutions for the scalability issue. However, these technologies were built to have different use cases. For instance, Lightning Network was developed for ease of transfer for network funds, and Raiden was created to act as an online environment that enables the creation and deployment of decentralized apps, exchanges, and IoT (Internet of Things). Taking this into consideration, state channels are the ideal technology which can be used in generating custom gambling solutions. Developers will be able to implement these specifically-designed state channels in turn-based systems, including gaming platforms. This will enable them to settle the results (bets) off-chain, based on the players’ on-chain game outcomes. Fasttoken has created a unique innovation which makes use of state channels, called Fast Channels, to boost the development and efficiency of this gaming industry. How Will this Affect the Blockchain Scene? Fasttoken takes great pride into being the first that has begun to offer open access to their state channel codes. There are many gambling platforms which make use of blockchain, and boast that they offer a decentralized and transparent environment to their users. But none of them, as far as we know, have decided to make publically available the codes used in creating their state channels. Blockchain technology was built on the principle that all the codes would be open sourced, and that the development process would be completely transparent. Fasttoken stays true to this philosophy and that is why it has decided that its state channels become open source. Blockchain transactions are stored in nodes, and because of this, the transaction ledger can easily outgrow its users in term of numbers at a very fast pace. As the network expands quickly, more resources are required, which strains the blockchain’s ability to process transactions, thus making them slower and costlier. This is why developers are always looking into new solutions which can be applied to help the network scale effectively. Therefore, the programming community came up with implementations such as sharding, side channels, and state channels. Ethereum has recently stated that it will introduce support this year on its platform for state channels, that will eventually lead to the technology being more accessible to developers. But, until Ethereum applies this support, developers can take advantage of the opportunity presented by Fasttoken and its open codes. This will enable them to create platforms for various use cases without much effort. Being an Ethereum-based solution, Fasttoken is among the first in the gaming field that has directed all its efforts into offering its players a flawless gambling experience. By sharing the underlying codes of their state channel technology, the team believes that it will help the community grow with a transparent approach. About Fasttoken Fasttoken is an encompassing blockchain solution developed to facilitate betting and gambling experiences in a transparent and fair manner for all its players. You can find out more by subscribing to the official Telegram group where you can ask the Fasttoken team directly any questions you might have regarding the project. You can also visit its official website – to discover the newest events and developments in this technology. The developers from the Fasttoken team declared: “This announcement is just the beginning, a lot more is on the way, and trust us, you don’t want to miss out on any of that.” Fasttoken – the First Gambling Platform to Reveal its State Channel Codes!
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Ether Creator and Researcher (ETH) Talk to the Community About Serenity Patch for Ethereum 2.0

Today businesses are very aware of how they are perceived by their target audience. With so many alternatives in all industries, it is essential to have a good product but it is also imperative to have it well marketed. And after all that, honest and open communications is the last and most important thing. This is exactly what Ethereum seems to doing. At a recent Ask Me Anything [AMA] hosted by the Ethereum Foundation, all the big wigs were present.  From Ethereum founder, Vitalik Buterin to Justin Drake, a researcher at Ethereum, sat down in a marathon session that lasted over twelve hours. They were there to answer any and all questions pertaining to their Ethereum 2.0. Working on updating their underlying infrastructure, Ethereum 2.0 looks to provide some major updates. The Foundation looks to upgrade Ethereums capability by allowing better scalability and making tweaks that allows increased efficiency. The entire upgrade phase is being labelled as the Serenity phase. This final phase of Ethereum 1.0 will include a host of features such as Proof-of-Stake [PoS] – Beacon and Casper, Sharding, eWASM, Plasma, Raiden, and zero-knowledge proofs. It has been the culmination of various works that the team had been working on over a number of years. Pointy questions and answers Most of the questions were about the latest changes and how they would fit into the grander scheme of things. However, there were some questions and answers that stood out. One Redditer asked the team about developers who would be thinking twice about using Ethereum today, especially when one considers that Ethereum 2.0 will be taking over soon. To this, Drake replied that the platform was a great hub for learning and an excellent facilitator for prototyping. He went on to add that “It is also great for assembling a culturally-aligned team consistent with the philosophy of the Ethereum community (which may be different than the philosophy of the Bitcoin, Ripple, Bitcoin Cash, EOS, Tether, etc. communities).” This was further supplemented by Buterin who went on to explain that post Serenity implementation, the teams next task would be to focus on working, along with the developer community, on modifying high-level languages. “At that point it will become clearer how to build applications in such a way that they could be redeployed as-is on the 2.0 chain. At least that’s my hope,” He said. Elizabeth Giovanni, another inquisitive one from the forum, queried if any economists or similar experts had been consulted with, to address the issuance rate of a full Proof-of-Stake system [PoS]. Her line of questioning seemed to be looking for redressal of community concerns about the effects of certain decisions on the network, in the long as well as short term, without expert input. To this Buterin brushed aside any concerns about allying with financial gurus, instead he felt, “At this point the feedback I’m most interested in is actually feedback from potential stakers.” He opined that the focus should instead be on developing community consensus to make tweaks to the economics. He went on to add, “Given a fixed level of reward, will [it] encourage more people to validate and encourage many small solo validators or smaller pools, as opposed to a few large pools.” Talking to the community, when done correctly, is a perfect solution to assuage any community fears. With ETH getting ready for a giant step forward it will be interesting to see if more such sessions are held to interact with the end users.
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Ethereum [ETH]’s Vitalik Buterin and Justin Drake’s take on the community’s questions concerning Serenity

Vitalik Buterin, the creator of Ethereum, and Justin Drake, a researcher at Ethereum, spoke about Ethereum 2.0, during the latest Ask Me Anything session on Reddit. The AMA was hosted by the Ethereum Foundation and lasted for over 12 hours, wherein all the members of the Ethereum 2.0 research team answered the community’s questions pertaining to Ethereum 2.0. Ethereum 2.0 is considered to be the Foundation’s biggest project as it includes some major updates to Ethereum. This upgrade is said to achieve scalability and make the network more efficient. The upgrade from Ethereum to Ethereum 2.0 is called the Serenity phase, aka the final phase of Ethereum 1.0. The key solutions brought by Serenity include Proof-of-Stake [PoS] – Beacon and Casper, Sharding, eWASM, Plasma, Raiden, and zero-knowledge proofs. Vitalik Buterin had previously claimed that Serenity is the world computer, which is a combination of different features that the team has been discussing for the past few years. During the AMA session, the team was asked about what the best response would be to a developer, who is hesitant about building on Ethereum today, taking into consideration that Ethereum 2.0 will take over in the next few years. This question was asked by a Redditor, 0xStark. To this, Buterin stated that after the state and execution model for Serenity solidifies, the team would be working with the developer community, wherein they would be focusing on modifications to high-level languages such as Solidity, and Vyper. “Hopefully at that point it will become clearer how to build applications in such a way that they could be redeployed as-is on the 2.0 chain. At least that’s my hope.” Justin Drake also replied to the question, wherein he stated: “Building on Ethereum 1.0 today is great for learning and prototyping. It’s also great for assembling a culturally-aligned team consistent with the philosophy of the Ethereum community (which may be different than the philosophy of the Bitcoin, Ripple, Bitcoin Cash, EOS, Tether, etc. communities).” Furthermore, another Redditor, Elizabeth Giovanni asked the researchers whether there were any economists being consulted to help decide the issuance rate of a full Proof-of-Stake system [PoS], and the effects certain decisions would have on the network and the community, both in the long-run and short-term. Here, Vitalik Buterin said: “Personally at this point the feedback I’m most interested in is actually feedback from potential stakers. The main question basically being, are there any other tweaks we can make to the economics that, given a fixed level of reward, will (i) encourage more people to validate, and (ii) encourage many small solo validators or smaller pools, as opposed to a few large pools.” The post Ethereum [ETH]’s Vitalik Buterin and Justin Drake’s take on the community’s questions concerning Serenity appeared first on AMBCrypto.
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What Is Enjin Coin (ENJ)? | A Complete Guide to the Gaming Crypto

What Is Enjin Coin? Enjin Coin is a cryptocurrency for virtual goods created by Enjin. Enjin is the “largest gaming community platform online” with over 250,000 gaming communities and 18.7 million registered gamers.   The Enjin team is designing the coin completely around gaming with the goal of it being the most usable cryptocurrency for the industry. The project includes the Enjin Coin as well as a suite of software development kits (SDKs) that developers can integrate into their games and communities. Bringing blockchain to gaming helps to reduce the high fees and fraud that’s prevalent in the transfer of virtual goods. In this Enjin Coin guide, we’re going to cover: How Does Enjin Coin Work? Enjin Coin Team & Progress Trading Where to Buy ENJ Where to Store ENJ Conclusion Additional Enjin Coin Resources How Does Enjin Coin Work? Enjin Coin is an ERC20 token built on the Ethereum network. With that, the project not only acts as a cryptocurrency but also has smart contract capabilities. It’s also one of the first projects testing the Raiden Network, Ethereum’s version of the Lightning Network. The Enjin Coin platform provides a laundry list of features through its public API and SDKs. To keep things brief, though, we’ll only be discussing a few of the major ones in this article. Virtual Goods The largest value Enjin Coin brings to the gaming community is in its creation and management of virtual goods. Developers on each platform can easily create a currency unique to their community that’s backed by Enjin Coin as the parent currency. This gives the coins all the benefits of the blockchain (speed, cost, security, etc…) while still staying customized to their respective platforms. Because each asset is recorded on a single Registry smart contract, all Enjin Smart Wallets recognize them. And, you can exchange virtual goods for Enjin Coins at any time. This creates an interconnected ecosystem of games and communities in which you can even transfer assets across platforms (more on this below). Beyond currencies, this functionality also applies to privilege tokens as well as unique game items like swords or attack attributes. Enjin Coin Ecosystem Payment Gateway Additionally, the Enjin Coin SDK includes a decentralized payment gateway. The gateway is robust, allowing you to create customized carts, invoices, refunds, etc., on top of it. It also provides a widget to accept Enjin Coin and/or Customized Coin payments on your website. The payment gateway only charges a small fee in Ethereum on each transaction – nothing additional. Utilizing functionality from the Smart Wallet, you, as a user, can set up automatic payments to games and websites that you list as a Trusted Platform. This adds faster and more trustworthy payments to normal subscription services. Enjin Crypto Wallet Smart Wallet The Enjin Smart Wallet is the component that connects everything together. The wallet supports the virtual goods from every one of your Trusted Platforms and is synced to your Ethereum address. You’re able to trade coins and items outside of the gaming environment to any other user with a Smart Wallet. Through the wallet, you send transactions via a Transaction Request that the other party can either approve or deny. On top of that, you can also set rules and thresholds to automatically prevent undesired transactions. Efinity At the start of 2018, the Enjin Coin team announced plans for Efinity, a channel network solution to help Enjin scale more effectively. Efinity, like Bitcoin’s Lightning Network, consists of numerous game channels in which a game can perform a near infinite amount of transactions quickly and with almost zero cost.  Other Features Beyond these three features, Enjin Coin also includes virtual goods stores, subscription services, trading escrows, and “top lists” for items, servers, teams, and/or games. Enjin Coin (ENJ) Supply There’s a total supply of 1 billion Enjin Coins (ENJ) with just over 760 million currently in circulation. The team distributed 80 percent of ENJ to crowdsale participants and split the remaining tokens between themselves, advisors, and incentive programs. When users create custom assets, the corresponding value in ENJ is removed from the ecosystem decreasing the circulating supply. This, in turn, should increase the value of individual ENJ tokens. Enjin Coin Team & Progress Enjin, the company behind Enjin Coin, is the largest online gaming community creation platform. Started in 2009, the company receives 60 million views per month and transacts millions of U.S. dollars each month in their community stores. The team is deploying Enjin Coin across the entire Enjin CMS platform – over 250,000 gaming websites. Advisors to the project consist of Anthony Diiorio (Ethereum co-founder) and Pat LaBine (previous producer and technical director at Bioware). Enjin has also formed partnerships with Unity, PC Gamer, and NRG eSports. The team held a successful ICO in late 2017 in which they raised ~$35 million between the private and public rounds. Although it’s still a relatively young project, the team spent the last quarter of 2017 building the Platform API, Mobile Smart Wallet, and a Java SDK alongside creating a Minecraft plugin. They were busy in 2018 as well, creating various platform plugins, Efinitiy, numerous other SDKs, and the EnjinX blockchain explorer. No project has dominated this market yet. Enjin Coin’s largest competitors are GameCredits and WAX, but there are significant differences between them. According to Enjin CMO Elija Rolovic, Enjin Coin is the “Ethereum of Gaming” while the competitors are just simply “tokenizing their centralized games/marketplaces.” The Enjin team hasn’t published a 2019 roadmap yet. Trading Enjin Coin has had a fairly predictable trading run since its launch in November 2017. It followed the market with a huge run up in December and early January 2018 before falling throughout 2018 to its current price of about ~$0.038 (~0.0000096 BTC). The ENJ price saw a few convergent spikes in mid to late January as well as February and April, but these don’t seem to be related to any news in particular. We can probably chalk up these movements to overall market trends. baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=ENJ&tsyms=USD,EUR,CNY,GBP'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); In a more bullish market, additional partnership announcements and product releases may lead to an increase in the price. And, of course, more people using Enjin Coin in online gaming should positively affect the price as well. Where to Buy ENJ You can purchase ENJ with BTC and ETH on Binance. It’s also traded on Liqui and Kucoin but with much less volume. If you don’t own any Bitcoin or Ethereum, you should first buy some with U.S. dollars on a platform like GDAX (now Coinbase Pro). Where to Store ENJ Because it’s an ERC20 token, you have plenty of options on where to store ENJ. A popular online option is MyEtherWallet while the Ledger Nano S is a solid choice for a hardware wallet. Ideally, though, you should use the official Enjin Wallet. It’s available for Android and iOS mobile devices. Other than ENJ, you’re also able to store BTC, ETH, LTC, as well as all ERC20, ERC721, and ERC1155 tokens in the wallet. The team will continue to add support for other altcoins too. Conclusion Enjin Coin is adding the benefits of blockchain to the over $17 billion virtual goods market. The team is working to prevent fraud in the gaming industry and provide true ownership to virtual goods holders. Created and backed by gaming giant Enjin, the project has a solid foundation of support. However, Enjin still has much to prove. It’s impossible to predict how successful it will be, but if it’s current achievements and team are any indicator, Enjin Coin could have a bright future ahead. Editor’s Note: This article was updated by Steven Buchko on 1.7.2019 to reflect the recent changes of the project. Additional Enjin Coin Resources Website Telegram Reddit Blog Twitter The post What Is Enjin Coin (ENJ)? | A Complete Guide to the Gaming Crypto appeared first on CoinCentral.
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Analyst: 2019 Will be the Year of 2nd Layer Ethereum Scaling

Analyst: 2019 Will be the Year of 2nd Layer Ethereum Scaling According to an Ethereum (ETH) network and community analyst, this year’s major trend for the decentralised smart contract platform will be layer two scaling technologies. Proposed upgrades to the network include Plasma and the Raiden Network, amongst others. It seems that the Ethereum Foundation are aware of the pressing need… The post Analyst: 2019 Will be the Year of 2nd Layer Ethereum Scaling appeared first on Altcoin Today.
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XRP, BAT and Dash are The Favorite Cryptos Among Uphold Users

A recent report published by Uphold revealed that the most popular tokens among its users are XRP, BAT, and DASH. The investment in these cryptocurrencies has increased considerably during the period from January 2018 to January 2019. According to information from AMB Crypto, Uphold reported that despite the sharp drop in the prices of cryptocurrencies, its user base reached record stats: Not only did they increase their userbase to more than 1 million registered users, but the number of funded wallets and transactions also grew by more than 2X compared to last year. The Uphold team revealed that altcoins played a special role in the growth of its platform. Dash had the highest increase, followed by Basic Attention Token and Ethereum. However other tokens such as BTC, LTC, and BTG also reported significant growth despite the negative performance of the markets: Holdings of all currencies increased materially over the period, but DASH and BAT were the 2018 standouts (up 281% and 183% respectively). Uphold also saw good growth in holdings of ETH (up 70%), BTG (up 54%), BTC (up 41%) and LTC (up 24%) Uphold Explains The Reasons Behind The Popularity of Every Token According to the firm’s analysis. The growth rate of BTC, LTC, and ETH was lower than last year. Apparently, the public lost interest in these cryptocurrencies to focus on other more attractive alts such as XRP, which grew from 0 to 39% from March 2018 to January 2019. Uphold Interface The growing interest in XRP is consistent with the intense media presence that Ripple has had in the community over the past few months. The launch of xRapid and the numerous partnerships with essential players in the world of finance increased the trading of this cryptocurrency which eventually reached number 2 in the global market cap. Something similar happened with Basic Attention Token. The cryptocurrency is strongly pushed by Brave browser. The popularity of the browser and the positive rating of several specialized sites, as well as the launch of BAT trading in Coinbase Pro, were critical for the token to become one of the favorites among Uphold users. Uphold finally attributed DASH’s growth to a successful campaign in which they made their philosophy have an important influence on the community. “DASH represents itself as digital money which can be used to make instant, private payments online or in-store using its secure, open-source platform hosted by thousands of users around the world.” The post XRP, BAT and Dash are The Favorite Cryptos Among Uphold Users appeared first on Ethereum World News.
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New Shapeshift Crypto Exchange Rebrand Plans Announced by CEO Erik Voorhees at ETHDenver

At the recently held ETHDenver, ShapeShift CEO Erik Vorhees announced that his company would be undergoing a major rebranding exercise in 2019. The first step in this will take place on Monday, February 17, 2019. During this time, the exchange will begin holding a closed beta programme where selected users will be invited to test out a new and improved version of Shapeshift. The new version, Vorhees says, will focus on improving on the user experience. These improvements will include making the user interface simpler and synchronizing the use of all the exchange’s products including its cryptocurrency pricing tracker CoinCap. This Information was made available by the CMO of ShapeShift Emily Coleman. Besides making this announcement, Vorhees also spoke at a panel focused on leadership “in times of ambiguity.” In this panel, he was joined by founder of cryptocurrency micropayments service Earn.com Lily Liu, CSO of ethereum venture capital studio ConsenSys Sam Cassatt, and co-founder of decentralized application platform Holochain Arthur Brock. Tough Calls As part of the discussion, the panelists were asked what the hardest decision was that they have had to make in the running of the business. “If you’re going to be a company in the crypto industry, you’re attached to the severe market cycles of the industry. That’s full of good and bad,” said Voorhees. Vorhees, on his part, said that the hardest decision he had had to make was the introduction of know-your-customer protocols on the exchange last year. “I felt like I had to do something morally wrong to allow the company to persist…It’s a really awful position to be in,” said Voorhees. According to Vorhees, the decision was a hard one because he was personally against the idea of asking users to give up their personal information. He eventually conceded to the decision as a form of picking and choosing his battles and considering the long-term implications. Despite the tough decision that was made, Vorhees is still confident that, in the future, people will be able to carry out transactions in a completely decentralized manner and without any censorship or interference. “Society is comfortable about this idea that people should be able to talk freely with each other … the fact that money is treated differently is a huge injustice. I hope that crypto breaks that discrepancy,” he said. Despite the CEO’s optimism, the company has faced some challenges in recent times, especially with having to lay off a third of its staff due to the crypto price slump.
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Federal Judge in Crypto Proceeding Re-examines Blockvest (BLV Token) Case

In November of 2018, a California federal judge refused to approve a preliminary injunction as was requested at the time because there were a few inquiries and it was yet to be determined if, based on the Howey Test, the token in the case was a security. However, the same judge seemed to have re-assessed the situation and has made the decision to grant a motion the SEC’s requested, for Partial Reconsideration. Details of the Case The SEC, at the time, had charged a few offenders on account of transacting business involving sales of securities that were unapproved and not registered. The tokens, called BLV tokens, were defended by their stakeholders with the claim that they had been pre-approved by the CFTC, the National Futures Association and even the SEC. The accused also claimed on their website, that they had received approval from an agency called the “BEC”, although that seemed to have been fabricated. The Re-Assessment Generally, it almost never happens that during a prosecution, a federal judge will have a change of mind. This only happens when a motion for re-examination has been put forward. However, when a case has new evidence or laws have been changed or wrongly applied, a judge could consider a change of mind. The judge has now decided that the information on the accused’s website contained offers for transacting in unapproved tokens and this still holds water whether or not a transaction was completed. The Howey test is a divided into three parts and all three were violated. The accused expressed their opinion that an injunction is too much of a response from the courts especially because some progress had been made regarding admittance of guilt, an addition of a proper counsel to the team and the decision for these people not to do an ICO. However, the court did not agree especially because of the made up agency – BEC – and many other different falsities. The court also considered the possibility that the accused might not discontinue all the wrongdoings. Reactions to the case and the court rulings have been polar with some proclaiming it as appropriate while other have expressed that it might be an overreaction.
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Top 5 Crypto Performers Overview: Dash, Neo, Binance Coin, EOS, Ethereum

Top 5 Crypto Performers Overview: Dash, Neo, Binance Coin, EOS, Ethereum Argentina has recently settled an export deal with Paraguay in Bitcoin. Although the net value of the deal was only $7,100, it is a welcome step. Gradually, more countries will recognize the advantage of using cryptocurrencies for cross-border deals. Digital asset management fund Grayscale […] Cet article Top 5 Crypto Performers Overview: Dash, Neo, Binance Coin, EOS, Ethereum est apparu en premier sur Bitcoin Central.
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