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The next XVG? Microcap 100x potential actually supported by fundamentals!

What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why:
Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network.
The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership.
The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI.
ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil.
Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets.
100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”.
Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy.
I am super bullish on this coin for the following reasons:
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to.
This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
  1. A https://www.vice.com/en_us/article/d35eax/amazon-bitcoin-patent-data-stream-identify-cryptocurrency-for-law-enforcement-government
  2. B https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
  3. C https://www.coindesk.com/binance-blockade-of-wasabi-wallet-could-point-to-a-crypto-crack-up
  4. D https://cointelegraph.com/news/centre-freezes-ethereum-address-holding-100k-usdc
  5. E https://www.coindesk.com/us-treasury-blacklists-bitcoin-litecoin-addresses-of-chinese-drug-kingpins
  6. F https://www.youtube.com/channel/UCWkTxl5Z6DNN0ASMRxSKV5g
  7. G http://epic.tech/whitepaper
  8. H https://medium.com/epic-cash/epic-cash-on-uniswap-22447904d375
  9. I https://epic.tech/wp-content/uploads/2019/09/figure-3.1.jpg
Links:
submitted by pinchegringo to CryptoMoonShots [link] [comments]

TomoChain AMA with DAppBird: Public blockchain applications for businesses.

TomoChain AMA with DAppBird: Public blockchain applications for businesses.

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Hi everyone. Pleased to be here! Thank you for taking your time to join me.
I’m the Chief Business Development Officer for TomoChain.
Educationally I graduated university with degrees in both Industrial Engineering and Economics from Georgia Tech, and later earned an MBA from the Wharton School of Business.
I grew up as a gaming addict and have a video game collection that is a bit unwieldy. Dozens of consoles and, at one point, over 13 classic arcade machines.
So, before crypto, I spent much of my profession in the gaming space. I was a Game Designer, Game Producer, and eventually Studio Head for a major games studio that was recently purchased by Rockstar Games. I have run my own game-related tech businesses as well.
I fell into crypto back in 2014, and over time it became a second passion of mine as I began to truly understand the value of decentralization. True ownership of data was not possible until Bitcoin came along and that is simply a powerful and game-changing message to a world structure built on an opposing foundation.
Brief Introduction

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TomoChain is a Public Blockchain powered by Proof-of-Stake Voting. TomoChain launched into Mainnet 1 year ago in December 2018. It is secured by 150 Masternodes, of which I’m proud to be an operator myself. TomoChain is EVM Compatible and runs at a speedy 2000 TPS with a 2 Sec Blocktime. Gas fees are almost zero too.
Based out of Vietnam, TomoChain is Southeast Asia’s largest public blockchain. We are focusing on developing a full suite of DeFi products. We also have commercial and enterprise clients. TomoChain has a number of major crypto-partnerships including notables like Neo Blockchain, Chainlink and Crypto.com. Our Masternode network is run by some of the most recognizable players in the space as well, including Neo Global Capital, CoinGecko, HashQuark, KuCoin, and more large players are on the way.
TomoChain earned its place onto Binance.com with a fee-free listing last year by winning the BinanceDEX community vote in August 2019. Binance has written us up in a detailed Binance Research Report and awarded us the V-Label. We have also been in a number of their reports, including those related to Dapps and DeFi. We have been interviewed by Forbes.com official and had an in-person interview at NASDAQ, in the heart of Times Square, about TomoChain and our upcoming TomoX Protocol.
In China, specifically, we have been integrated into and have solid relationships with various blockchain players including HashQuark, HashKey, CoboWallet, Conflux, and many others. We launched an Ecosystem Development partnership with Neo Blockchain last December and co-hosted a meetup + workshop with them as well.

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GEARED FOR REAL WORLD USE
Now, let’s talk about how TomoChain has been built for real-world use.
We’re looking at Payments & DeFi as low hanging fruit when it comes to user adoption and TomoChain is developing a suite of tools to support this. The biggest challenge for having users benefit from Blockchain on a day-to-day basis is how much friction is involved to acquire, store and use it. Even stable coins are dual currency systems. The Stablecoin and then the Native Token to pay gas fees. Blockchain is simply not user-friendly.
Our view is that the true solution for Blockchain adoption by the world is end-users shouldn’t need to know they are using blockchain technology at all. It should be a hidden technology layer, similar to payment processor settlements or even the internet distribution centers/routers that power this very AMA we’re all participating in right now. Do we need to know the underlying technology infrastructure to use them? Nope.
We are developing a system to hide this friction, so the TomoChain blockchain can be integrated into real-world applications that you use every day on mobile or web.
There are 3 protocols that we are building to enable this future: (1) TomoZ: Zero Friction (2) TomoX: The DEX Protocol (3) TomoP: The Privacy Suite.

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TomoZ: Zero Friction - Our TomoZ protocol is a core starting point to the solution for mass market use of blockchain technology. TomoZ: Zero Friction allows for token issuance and use by having gas fees paid by the token itself. That means you don’t need TOMO to send transactions. You don’t even need to know you’re using the TomoChain blockchain.
So you could buy a cup of coffee at a café using loyalty points that are TomoZ tokens. The customers redeem for their coffee or earn it, but they don’t even have to know it’s a blockchain token which they actually own.
This approach is structured to enable the next million-plus users to utilize blockchain as a technology layer. After all, the real value of any Blockchain is in its utilization of high-quality transactions.
Now, TomoZ transactions aren’t FREE. It actually does use TOMO, but that’s hidden from the end-user. The way it works is that the token issuer deposits a small amount of TOMO into a pool. Every time the token is sent, TOMO is taken from this pool to pay the Masternodes.
The key is that the end-user doesn’t need to get involved with internal workings, which is why we call it the Zero Friction protocol
Now let’s talk about TomoX: The DEX Protocol
TomoX is an upcoming DEX Protocol that allows anyone to launch their on permissionless Decentralized Exchange in minutes. It requires very little technical knowledge making it a near turn-key solution.
TomoX is the fastest DEX experience since it’s a Layer 1 protocol. This means it’s run and secured by the entire TomoChain network. Our Masternodes manage the DEX instructions directly, rather than other DEXs that operate as a Layer 2 protocol. What this means is TomoX DEXs will operate at about 50x faster than a typical 0x exchange. That significantly improves the end-user experience.
TomoX DEX operators have access to a shared liquidity pool across all DEXs. That means a user buying on one DEX can be matched with a user selling on another DEX. Of course, Operators can customize and choose which tokens to include.
TomoX is fully decentralized since the Order Book is on-chain. Many other semi-decentralized exchanges store the OB on a centralized service in order to speed up the execution. That means there is a centralized point of weakness for them. TomoX minimizes custody and security challenges that centralized exchanges have too since all users are always in possession of their assets.
TomoX is currently in testnet and you can checkout TomoChain’s own DEX, aptly called TomoDEX, here: https://dex.testnet.tomochain.com/
Here is a link to get some free Testnet TOMO that can be used on the testnet version of TomoDEX: https://faucet.testnet.tomochain.com/
And finally, there is TomoP: Privacy Suite - TomoP is currently in testnet and is going to be the FASTEST way to send tokens privately. 2-4 seconds fast!
Any token issued on TomoChain will be able to utilize TomoP to send privately and anonymously. And that’s not all. We are including access to wrapped BTC, ETH, USDT, and other tokens that can also utilize the blazing speed and privacy that TomoP will offer.
Dapp privacy is a major part of TomoP. It is going to allow for the creation of Dapps to be built to handle customer data with true privacy, including from the Dapp operators themselves. This can jumpstart a new wave of applications geared towards hiding user information, transactions, assets owned, etc.
We are issuing a new token standard (TRC21p) which will be purely private. The only data available will be on its token supply. Token issuers can optionally provide auditing access to enforcement authorities to meet regulatory compliance. What this means is if the next Global PayPal/Skrill/Alipay competitor can build their service right on TomoChain and meet the most basic criteria required to stay above board in many jurisdictions.
If you guys want to check TomoP on testnet go here and login: https://wallet.testnet.tomochain.com/
Get some free Testnet TOMO that can be used with the TomoP testnet: https://faucet.testnet.tomochain.com/
Questions from the host
1. It’s been stated that TomoChain was on track to be a cash flow positive business, is it currently cash flow positive? What services or products is it offering to bring in this revenue?
Yes, absolutely. Our plan is to be cash flow positive this year. This really goes back to the level of experience our executive team has. Everyone is seasoned, having come from different fields, in big business and startups. Before the crazy boom of ICOs and IEOs, raising funding for traditional startups required considerable proof that there was market fit, that there were actual customers to drive revenue, and a model for growth.
We knew that TomoChain’s funds raised during the ICO were for a space that has yet to prove itself so the company had to be smart in budgeting for an uncertain future. And part of that initial preparation was selling much of the ICO proceeds into fiat. Something MANY blockchain startups did not do, largely due to ambitious teams that are also headed by very inexperienced leaders. So while the bubble burst, we had capital to continue operations and to even scale it.
And, we ARE running a business. A sustainable business requires us to identifying areas to generate income in order to minimize risk and to sustain the business in the long term. So we do both consulting and services work by helping clients to develop wallets, launch tokens (Orbyt), build exchanges (AIS), and of course enterprise solutions on the blockchain of which we have clients based out of Japan and in the Middle East using blockchain for traceability solutions across various industries from automotive, healthcare, and food.
2. What is the most strategical step TOMO is doing to bring adoption of TOMO coin to our daily lives?
Empowering businesses with a truly scalable blockchain that can be used by thousands and millions of users. We see user adoption of blockchain coming from businesses that base their solutions on blockchain technology. And, TomoChain has a number of real income-generating companies that have built on us, from exchanges to payment services to enterprise clients. Not bad for 1 year I say, especially during a stagnant market. Here are some examples.
UcarPac – A Top 10 User Car company in Japan is building traceability solutions on the blockchain. We completed a POC at the end of last year. After the assessment, the client decided it was solid and commissioned Phase 2 to expand the development of the project for commercialization purposes
Triip Protocol – Triip is a destination service for travelers to book vacations powered by Blockchain. Triip is a Shark Tank Vietnam alumnus, and the first ICO on TomoChain. Users can book tours and staycations using Triip or TOMO tokens.
WisePass – A service that sells subscription services to get discounted Starbucks, Singha Beer, and even makeup (of all things) integrated TomoChain as a payment solution
“Undisclosed Vendor” – Soon to be announced, a large player in the corporate gift giving business is also launching a Dapp on TomoChain to allow for them to make purchases with TOMO across thousands of items.
Maka - A peer-to-peer marketplace to conveniently buy/sell TOMO and other blockchain tokens using standard payment gateways, including e-wallets and bank transfers.
Coin98 – A local Vietnam crypto media company launched an App to allow for their community to earn their TomoChain token called C98 and use it for products and services geared around investors and gamers. The reception has been HUGE. 95,000 users and generating 500K+ transactions on our blockchain within 3 months of their launch! They are proving that innovative new business models can be adopted relying on and being blockchain specific.

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3. Do you have any plans to collaborate with developers or attract more Dapps built on TomoChain?
We are today. Our founders run the largest Blockchain Developer community in Vietnam and we work with a number of them to help develop solutions on the blockchain.
Our team has held Hackathons a few times over the last couple years and we have done developer workshops too, including one with Neo Blockchain. And this year we are working closely with educational institutions to launch blockchain courses in Vietnam.
Every Dapp developer we work with is a partner. We try to provide as much support as possible, both technical and marketing. A number of Dapps are games on TomoChain and we hold contests regularly to promote the developers and their titles.
Since we are focusing on alleviating the friction of blockchain technology, we are building out an API that will make it even easier for developers to integrate blockchain into standard applications. This is intended to allow standard non-blockchain application developers to operate in an environment they are accustomed to while also having the benefit of blockchain technology accessible.
Onboarding more developers will take time. However, I’m confident we’re on the cusp of something wonderful in the coming years that will change the relationship between users and applications enabled by blockchain. Entirely new economic structures can be set up since it’ll be the users owning all of their data for the first time in digital history. And true ownership is a powerful motivator that can be harnessed by innovative blockchain businesses.
submitted by alexngn201 to Tomochain [link] [comments]

The History, The Current State And The Future Of NavCoin

The History, The Current State And The Future Of NavCoin

This is it. If you're interested to see what NAV is all about, this is the ultimate guide for you. You will learn about the history of NavCoin and how it evolved. You will learn about the current state and features of NavCoin and you will learn about the exciting new features that are planned and coming up in the (near) future.
So buckle up, this is going to be a long ride!

Table Of Content


Introduction - What is NavCoin?


The History

Introduction
The following chapter will summarize and break down the history of NavCoin in a few sentences. NAV started a long time ago, went through rebrandings and changes of the core team before it became what it is today.

SummerCoin
NavCoin was initially first introduced under the name SummerCoin on April 23 in 2014. SummerCoin was a fork of the Bitcoin blockchain. It used to have a PoW/PoS hybrid algorithm with a block time of 45 seconds.

SummerCoinV2 /NavajoCoin
Soon after the initial launch of SummerCoin, the original developer left and SoopY (soopy452000 on bitcointalk) took over as the main developer and rebranded the project to SummerCoinV2 respectively NavajoCoin and introduced new features.
The name NavajoCoin was chosen in honor of the Navajo Code Talker. The unbreakable Navajo code was used to encrypt highly classified military information and commands and decrypt the same in WW II.
SoopY introduced a technology which allowed sending transactions anonymously and private. This technology was called "Navajo Anonymous Technology". SoopY also released a new wallet and set the Proof of Stake rewards at 10% for the first year, 5% for the second year and 2% for every year after.

NavCoin
On August 12, 2014, Craig (current lead core developer, pakage on bitcointalk) started to get involved with NAV by helping to set up a website [10].
It was officially announced that Craig joined the core team as a "Wallet & Web Developer" on November 06, 2014.
The last tokenswap and restart of the blockchain of NAV happened on May 12, 2016.
Soon later, SoopY stopped showing up and Craig stepped into the role of the lead core developer. Since then, Craig has assembled a strong team with which he built NavCoin into what it is today.
Currently, Craig and the NavCoin Core team is located in New Zealand and they are actively developing many ground-braking features which differentiate NAV from other cryptocurrencies. You will read more about that later in this article.

The Current State

Introduction
The year 2018 has been a thriving year for the NavCoin ecosystem. Despite the USD price of NAV not reflecting it, in 2018 the core team has developed a whole bunch of new features. Also the core content creators published the first official guidelines that function as an orientation guide for community content creators. This chapter will give you an overview of the current team, the features, the prior mentioned guidelines and the community of NavCoin.

Core Team [1]
Last year, the core team has grown alot. It contains of developers, content creators and interns. The core team are employees of Encrypt S, the New Zealand's leading blockchain R&D lab. Encrypt S is developing blockchain solutions since 2014 and values building open-source software highly.

Craig MacGregor - Chief Executive Officer
Craig is the CEO of Encrypt S and the founder of NavCoin. He is one of the world's most experienced blockchain developers. Craig founded NavCoin in 2014 and is developing software for it since then. He has assembled a strong team of like-minded people. Craig also speaks at seminars and conferenced. Some of the companies and conferences he did blockchain education sessions at are Oracle, Xero, Air New Zealand, Blok Tex and trademe. Together with the team, he is also doing a education series on YouTube where he explains upcoming features in-depth for the community.

Alex Vazquez - Chief Technical Officer
Alex is the CTO of Encrypt S and the most active contributor to the NavCoin core Github. He has incredible knowledge of blockchains and proposes and implements solutions for challenges and features. He supports community developers frequently and answers any questions of the community thoroughly. Like Craig, Alex is developing software for the NavCoin ecosystem for a very long time. Alex speaks at universities at times and educates students about the blockchain technology.

Paul Sanderson - Lead Software Engineer
Paul is the Lead Software Engineer at Encrypt S. He has a flair for technology. His technical and management skills are perfectly suited for consultancy and investment advising. He also frequently contributes to the NavCoin core source code.

Rowan Savage - Senior Software Engineer
Rowan is a full stack software engineer with more than a decade experience in developing complex front-end web applications. He joined Encrypt S in February 2018 and has since been involved in the Valence Plattform, the Kauri Wallet and NavCoin Core. You will read more about these feature/projects later.

Carter Xiao - Lead UX/UI Designer
Carter specializes in user-centric design and is also very talented with 3D animation, motion graphics and programming. One of NavCoins core principle is "Simplifying Crypto" and UX/UI is a very important part of that.

Matt Paul - Software Engineer
Like Rowan, Matt is a full stack Software Engineer. He joined the core team in Mai 2017 and has since worked on NavPay, NavPi, the Kauri Wallet and NavCoin Core. Kieren Hyland - Chief Strategy Officer Kieren is one of the employees that are working for Encrypt S for a very long time. He is the CSO and is a digital strategist and growth hacker with a passion for new technology and has a lot of experience in online marketing. Laura Harris - Creative Director Laura has a combination of commercial and creative flair. She manages the social media accounts for NavCoin and ensures, that NavCoins' message is always powerful, relevant and distinctive. John Darby - Content Creator John is an internationally awarded Technology and Financial sector marketing communications specialist. He is one of the Core Content Creators for NavCoin.

Features of NavCoin [2]
The following features are currently available and have been developed in the last months and years. It is sorted from newest to oldest.

Static Block Reward
The soft-fork for the enabling of static block rewards have been accepted and became active recently at 5th January 2019. This means, that the block reward was changed from a percentage based reward to a static reward. This will incentivize the stakers to have their node online 24/7 which increased the security of the network. It also aligns NavCoin with the PoSv3 specification. With this implementation, the yearly inflation will be 3.6% currently and will exponentionally decrease because of the static value of the rewards. Every staked block will now give the staker 2 NAV. Depending on how many people are staking, the yearly percentage varies. With the network weight currently being around 20'000'000 NAV, stakers earn around 10% rewards from staking 24/7.

Cold staking
To provide extra security to participants in the staking process in the NavCoin network, the core team decided to implement cold staking. This allows to store NAV offline and still be able to sign staking inputs. Looking forward, a possible integration into the Ledger Nano S would mean, that one can stake NAV securely from a offline hardware wallet. How cool is that?

OpenAlias
One of the core principle of NAV is to simplify cryptocurrencies. Many non-technical people are deterred from the long, cryptic addresses used in wallets. When sending funds, you have to make sure that every single letter and digit is correct which is nerve-wracking for the average person. NavCoin has implemented OpenAlias, which allows to transform the wallet address into a email-like form. Everyone can register a name like "[[email protected]](mailto:[email protected])". Funds can then be sent to this name, which makes sending crypto much easier and less error-prone.

Community Fund
This is the one big feature I was most excited about. NavCoin core has implemented the first fully decentralized community fund. Acceptance of proposals and release of funds is all approved by the decentralized network. No central authority has access to the fund. The community fund enables everyone to propose their ideas to the NavCoin community and to get paid to implement these ideas. Everyone can propose whatever they like (of course there is a higher rate of success if the proposal contributes to the NavCoin ecosystem ;-)). In fact, this article was sponsored by the NAV-Community by voting "yes" for my proposal. The fund works like this:
For a fee of 50 NAV, everyone can create and present his idea/proposal to the entire NavCoin network. The fee is here to help prevent spam attacks. Proposals can literally be anything - be it development, marketing or anything else you can some up with.
After creating the proposal, everyone contributing to the NavCoin network can then decide if they like the proposal of not. They vote with "Yes" or "No" for the acceptance of the proposal. Voting happens via staking. Every transaction that gets validated by you gives you one vote. This means that the more NAV you are staking, the higher your voting weight is.
The proposal stays in the state "Pending" until it is accepted or rejected. To be accepted, a proposal has to have a participation of at least 50% of all staked blocks and at least 75% of these votes have to be "Yes"-votes. Like-wise to be rejected a proposal need 50% participation of the network and 75% of these votes have to be "No"-votes. Additionally, if a proposal didn't pass after 6 voting cycles (about 6 weeks) it is also rejected.
After a proposal has been accepted, the creator of the proposal can start his work. When the work is finished, or at in the proposal defined checkpoints, the proposal creator can create a payment request for the full or part of the requested funds.
The NavCoin network can then again decide, if the work is what the creator promised to do and vote for the funds or reject the payment request because it was not what he promised. This mechanism ensures, that the funds are only release if the creator of the proposal did what he promised. The NavCoin network decides everything, there is no central authority which makes the community fund 100% decentralized.
The community fund is quite new but there have already been some proposals that were accepted like paying for the development & hosting of NAV block explorer, the creation and distribution of NAV car stickers to the community for free (or paid by the community fund), the funding of interns for NavCoin Core, translation of the website into other languages and YouTube videos. What ideas could you come up with? By the way: this article was also sponsored by the community fund :-)

Proof of Stake
Like said before, NavCoin uses the Proof of Stake algorithm to create and validate blocks. Participants of the NavCoin network can earn rewards by putting their coins to stake and thus validating blocks and securing the network. The reward used to be 4% fixed but recently changed with the implementation of PoSv3. Currently, rewards for stakers that are staking 24/7 is about 10% but it is dependent on how many people are staking. If more nodes come online, this reward will go down. If 90% of all NAVs would be at stake, stakers would still earn 4%.

Tutorials And Guidelines [3]
The NavCoin Core team pushes the community to contribute to the NavCoin ecosystem constantly. They emphasize that NavCoin is an open source project and everyone can contribute. The team tries to make it as easy as possible for the average person to contribute and thus created different tutorials and guidelines.

Tutorials To Contribute To The Website
The whole website is open source. Everyone can contribute to the website. The team created different guides for people to follow [4].

The NavCoin Developer Manifesto
The content creator core team has build a developer manifesto. It defines the values that should be uphold like for example that they will always operate in the best interest of the network. If defines the principles, purposes, scope of involvement and operational requirements [5].

The NavCoin Content Creation Manifesto
Similar to the developer manifesto, there is also a content creation manifesto. Again it defines the principles for creating content, the purpose, the scope of involvement and the operational requirements [6].

NavCoin Brand Guidelines
In addition to the content creation manifesto, there is also a brand guideline booklet. This should help content creators to create images, videos, articles etc. in the same style as the core team. It defines the NAV brand. The brand guidelines contain definitions, the language to use (words to use, words not to use), the tone of voice, what the community aspires to be and what we discourage to be. It also contains the logo pack which can be used in graphics etc. It describes correct logo spacing, logo placement, the colors of NAV and different web assets. It gives tips about gradients and overlays, the typefaces (with a font pack) and many more. Check it out yourself [7].

NavCoin Educational Series
The core team has decided to actively involve the community in the creation of new features. For this reason and to allow users to ask questions, they created the NavCoin Educational Series. The core team schedules an online live meetup which can be joined by everyone. On YouTube they do live-streams and explain upcoming features. Examples of these series are explanations for cold staking, static rewards (PoSv3) and the community fund. The community can ask questions live and the core team will answer them immediately.

Community
During the last year there have been an influx of software developers from the community starting to create features for NAV.

navexplorer.com
An examples is navexplorer.com which is programmed by community developer prodpeak and is a block explorer for NavCoin. Additionally, it functions as a interface to see what is going on in the community fund. It shows pending proposals and payment requests.

NEXT Wallet
The NEXT Wallet is an alternative wallet for NAV and other cryptocurrencies. It has a beautiful user interface and is additionally the easiest interface to interact with the community fund (create proposals, create payment requests and vote for proposals and payment requests). It is programmed by community developer sakdeniz who put hundreds of hours into it during last year.

There were also some marketing activities starting to emerge with the release of the community fund. Some of these were for example free stickers for everyone in the NAV community to stick to their car / shop / window etc. or YouTube videos of CryptoCandor and Cryptomoonie that explained the details of NAV. I am sure, that with the 500'000 NAV available in the community fund per year there will be an influx of gread ideas - development as well as marketing activities - that will be funded.

The Future

Introduction
These features are planned for the future. Many of the following features are part of the 2019 roadmap. Some will not be described in great detail because not much is known about them yet. I've still listed them as they are part of what is yet to come.

Features
Rimu - Improved Privacy Solution
NavCoin used to be a optional privacy coin. That means, that you could choose to send a transaction in private. NavCoin was criticized for the way it handles private payments because it relied on a few servers which didn't make it that decentralized. The technology was called "NavTech" and was a secondary blockchain that obscured the transaction and the amount that was sent. NavCoin Core is currently developing a new improved privacy solution that will make the private payment system completely trustless and districuted and runs at a protocol level. Alex of the NavCoin Core team has published a paper that describes this new privacy solution. It's called Zero Confidential Transactions and can be found here: https://www.researchgate.net/publication/330366788_ZeroCT_Improving_Zerocoin_with_Confidential_Transactions_and_more. What I want to highlight is the collaboration between Alex as the proposer of the solution and the Veil team, a Bitcoin Core developer and Moneros main cryptographer as reviewers. When the best work together, it will be interesting to see what the outcome is!

Valence Plattform [8]
Valence is an applied Blockchain platform that can help businesses realise the tangible benefits of blockchain. You can think of Valence as a platform with which you can build Anonymous Distributed Applications (aDapps) with. But Valence is a different kind of platform that enables developers to create new types of blockchain applications. The problem with current (turing complete) dApp platforms are their complexity and rigid nature. Security holes in smart contracts and scaling issues happen frequently [9].
Valence provides transitional pathways that let businesses migrate only part of their activities to the blockchain without having to restructure their entire business model [9].
Valence will provide a spectrum of blockchain application solutions which sit along the decentralized spectrum, offering businesses simple ways to dip their toes into the blockchain at minimal risk or complexity [9].
Thanks to the proof of stake nature of the Valence blockchain, more of a node's resources can be used for processing and routing application data which makes the platform faster and scalable.
Valence aims to make building blockchain applications as accessible to the general public as WordPress or Squarespace has made building websites.
The developers NavCoin and Valence aim to make Valence extremely easy to work with:
A Valence application could be an open source mobile or web application that submits unencrypted or encrypted data directly to the blockchain. The only configuration necessary for the app developer would be setting up the data structure. Once they've done that they can start writing to the blockchain immediately.
The Valence blockchain interface is language agnostic, meaning developers are free to build applications in whichever language they're familiar with, which greatly reduces the barrier to entry.
As the platform progresses, Valence will introduce more and more smart contract templates in collaboration with the development community. These will be like plugins that users can simply select and configure for their application, without having to reinvent the wheel and risk contract errors or spend countless hours of research to program them.

NavShopper
The following information is taken from the latest weekly news: NavShopper is a new project which will allow people to spend NavCoin on a growing list of retailers and service providers. NavShopper sits between traditional retailers accepting fiat and NavCoin users and purchases products on behalf of the user by managing the crypt-fiat conversion, payment and shipping. This project will unlock many more ways for people to spend NAV on existing websites/marketplaces without requiring each site to individually accept cryptocurrencies. Some of the prototypes we are working on include crediting your Uber account, buying products on Amazon and donating to charities.

Kauri Wallet
The Kauri Wallet aims to be an open-source, multi-currency wallet which functions as a foundation for other features.

Kauri Enhanced
Enhancements to the Kauri Wallet will allow multiple accounts, pin numbers, recurring payments and more.

Kauri DAEx
The Kauri DAEx is a Decentralised Atomic Exchange that utilises the features of the Kauri Wallet and enables users to create safe peer to peer atomic exchanges for any currency supported by the Kauri Wallet. NavDelta NavDelta will be a payment gateway that allows users to spend NAV at any business which accepts currencies supported by the Kauri Wallet. NavMorph NavMorph is a fusion of Rimu and Kauri DAEx and will allow to privately send every cryptocurrency supported by the Kauri Wallet.

Outro

If you have made it this far: Congratulations! You have learned about how NAV evolved, what its current state is and what the future will bring. To sum all up: NavCoin has made incredible progress during last year and released many long awaited features despite the bear market. Many more exciting features are yet to come and it's going to be very interesting to see where we will stand on this day next year.

Giveaway

Unfortunately, the giveaway was not possible in the cryptocurrency-subreddit because of their rules, so I'm doing it here :-) As a surprise, in the next 2 hours I am going to send some NAV to everyone who wants to try out the awesome features and NavPay you read about above.
To get your NAVs, all you have to do is the following:
If you liked the experience, I'd be happy to hear back from you :)

References

[1] https://encrypt-s.com/company/
[2] https://navcoin.org/en/roadmap/
[3] https://navhub.org/get-involved/
[4] https://navhub.org/how-to-guide/
[5] https://navhub.org/assets/NavCoinDeveloperManifesto.pdf
[6] https://navhub.org/assets/NavCoinContentManifesto.pdf
[7] https://navhub.org/assets/NavCoinBrandGuidelines.pdf
[8] https://valenceplatform.org/
[9] https://valenceplatform.org/learn/business-on-the-blockchain-made-easy/
[10] https://bitcointalk.org/index.php?topic=679791.msg8320228#msg8320228
submitted by crypto_sIF to NavCoin [link] [comments]

The History, The Current State And The Future Of NavCoin

The History, The Current State And The Future Of NavCoin

This is it. If you're interested to see what NAV is all about, this is the ultimate guide for you. You will learn about the history of NavCoin and how it evolved. You will learn about the current state and features of NavCoin and you will learn about the exciting new features that are planned and coming up in the (near) future.
So buckle up, this is going to be a long ride!

Table Of Content


Introduction - What is NavCoin?


The History

Introduction
The following chapter will summarize and break down the history of NavCoin in a few sentences. NAV started a long time ago, went through rebrandings and changes of the core team before it became what it is today.

SummerCoin
NavCoin was initially first introduced under the name SummerCoin on April 23 in 2014. SummerCoin was a fork of the Bitcoin blockchain. It used to have a PoW/PoS hybrid algorithm with a block time of 45 seconds.

SummerCoinV2 /NavajoCoin
Soon after the initial launch of SummerCoin, the original developer left and SoopY (soopy452000 on bitcointalk) took over as the main developer and rebranded the project to SummerCoinV2 respectively NavajoCoin and introduced new features.
The name NavajoCoin was chosen in honor of the Navajo Code Talker. The unbreakable Navajo code was used to encrypt highly classified military information and commands and decrypt the same in WW II.
SoopY introduced a technology which allowed sending transactions anonymously and private. This technology was called "Navajo Anonymous Technology". SoopY also released a new wallet and set the Proof of Stake rewards at 10% for the first year, 5% for the second year and 2% for every year after.

NavCoin
On August 12, 2014, Craig (current lead core developer, pakage on bitcointalk) started to get involved with NAV by helping to set up a website [10].
It was officially announced that Craig joined the core team as a "Wallet & Web Developer" on November 06, 2014.
The last tokenswap and restart of the blockchain of NAV happened on May 12, 2016.
Soon later, SoopY stopped showing up and Craig stepped into the role of the lead core developer. Since then, Craig has assembled a strong team with which he built NavCoin into what it is today.
Currently, Craig and the NavCoin Core team is located in New Zealand and they are actively developing many ground-braking features which differentiate NAV from other cryptocurrencies. You will read more about that later in this article.

The Current State

Introduction
The year 2018 has been a thriving year for the NavCoin ecosystem. Despite the USD price of NAV not reflecting it, in 2018 the core team has developed a whole bunch of new features. Also the core content creators published the first official guidelines that function as an orientation guide for community content creators. This chapter will give you an overview of the current team, the features, the prior mentioned guidelines and the community of NavCoin.

Core Team [1]
Last year, the core team has grown alot. It contains of developers, content creators and interns. The core team are employees of Encrypt S, the New Zealand's leading blockchain R&D lab. Encrypt S is developing blockchain solutions since 2014 and values building open-source software highly.

Craig MacGregor - Chief Executive Officer
Craig is the CEO of Encrypt S and the founder of NavCoin. He is one of the world's most experienced blockchain developers. Craig founded NavCoin in 2014 and is developing software for it since then. He has assembled a strong team of like-minded people. Craig also speaks at seminars and conferenced. Some of the companies and conferences he did blockchain education sessions at are Oracle, Xero, Air New Zealand, Blok Tex and trademe. Together with the team, he is also doing a education series on YouTube where he explains upcoming features in-depth for the community.

Alex Vazquez - Chief Technical Officer
Alex is the CTO of Encrypt S and the most active contributor to the NavCoin core Github. He has incredible knowledge of blockchains and proposes and implements solutions for challenges and features. He supports community developers frequently and answers any questions of the community thoroughly. Like Craig, Alex is developing software for the NavCoin ecosystem for a very long time. Alex speaks at universities at times and educates students about the blockchain technology.

Paul Sanderson - Lead Software Engineer
Paul is the Lead Software Engineer at Encrypt S. He has a flair for technology. His technical and management skills are perfectly suited for consultancy and investment advising. He also frequently contributes to the NavCoin core source code.

Rowan Savage - Senior Software Engineer
Rowan is a full stack software engineer with more than a decade experience in developing complex front-end web applications. He joined Encrypt S in February 2018 and has since been involved in the Valence Plattform, the Kauri Wallet and NavCoin Core. You will read more about these feature/projects later.

Carter Xiao - Lead UX/UI Designer
Carter specializes in user-centric design and is also very talented with 3D animation, motion graphics and programming. One of NavCoins core principle is "Simplifying Crypto" and UX/UI is a very important part of that.

Matt Paul - Software Engineer
Like Rowan, Matt is a full stack Software Engineer. He joined the core team in Mai 2017 and has since worked on NavPay, NavPi, the Kauri Wallet and NavCoin Core. Kieren Hyland - Chief Strategy Officer Kieren is one of the employees that are working for Encrypt S for a very long time. He is the CSO and is a digital strategist and growth hacker with a passion for new technology and has a lot of experience in online marketing. Laura Harris - Creative Director Laura has a combination of commercial and creative flair. She manages the social media accounts for NavCoin and ensures, that NavCoins' message is always powerful, relevant and distinctive. John Darby - Content Creator John is an internationally awarded Technology and Financial sector marketing communications specialist. He is one of the Core Content Creators for NavCoin.

Features of NavCoin [2]
The following features are currently available and have been developed in the last months and years. It is sorted from newest to oldest.

Static Block Reward
The soft-fork for the enabling of static block rewards have been accepted and became active recently at 5th January 2019. This means, that the block reward was changed from a percentage based reward to a static reward. This will incentivize the stakers to have their node online 24/7 which increased the security of the network. It also aligns NavCoin with the PoSv3 specification. With this implementation, the yearly inflation will be 3.6% currently and will exponentionally decrease because of the static value of the rewards. Every staked block will now give the staker 2 NAV. Depending on how many people are staking, the yearly percentage varies. With the network weight currently being around 20'000'000 NAV, stakers earn around 10% rewards from staking 24/7.

Cold staking
To provide extra security to participants in the staking process in the NavCoin network, the core team decided to implement cold staking. This allows to store NAV offline and still be able to sign staking inputs. Looking forward, a possible integration into the Ledger Nano S would mean, that one can stake NAV securely from a offline hardware wallet. How cool is that?

OpenAlias
One of the core principle of NAV is to simplify cryptocurrencies. Many non-technical people are deterred from the long, cryptic addresses used in wallets. When sending funds, you have to make sure that every single letter and digit is correct which is nerve-wracking for the average person. NavCoin has implemented OpenAlias, which allows to transform the wallet address into a email-like form. Everyone can register a name like "[[email protected]](mailto:[email protected])". Funds can then be sent to this name, which makes sending crypto much easier and less error-prone.

Community Fund
This is the one big feature I was most excited about. NavCoin core has implemented the first fully decentralized community fund. Acceptance of proposals and release of funds is all approved by the decentralized network. No central authority has access to the fund. The community fund enables everyone to propose their ideas to the NavCoin community and to get paid to implement these ideas. Everyone can propose whatever they like (of course there is a higher rate of success if the proposal contributes to the NavCoin ecosystem ;-)). In fact, this article was sponsored by the NAV-Community by voting "yes" for my proposal. The fund works like this:
For a fee of 50 NAV, everyone can create and present his idea/proposal to the entire NavCoin network. The fee is here to help prevent spam attacks. Proposals can literally be anything - be it development, marketing or anything else you can some up with.
After creating the proposal, everyone contributing to the NavCoin network can then decide if they like the proposal of not. They vote with "Yes" or "No" for the acceptance of the proposal. Voting happens via staking. Every transaction that gets validated by you gives you one vote. This means that the more NAV you are staking, the higher your voting weight is.
The proposal stays in the state "Pending" until it is accepted or rejected. To be accepted, a proposal has to have a participation of at least 50% of all staked blocks and at least 75% of these votes have to be "Yes"-votes. Like-wise to be rejected a proposal need 50% participation of the network and 75% of these votes have to be "No"-votes. Additionally, if a proposal didn't pass after 6 voting cycles (about 6 weeks) it is also rejected.
After a proposal has been accepted, the creator of the proposal can start his work. When the work is finished, or at in the proposal defined checkpoints, the proposal creator can create a payment request for the full or part of the requested funds.
The NavCoin network can then again decide, if the work is what the creator promised to do and vote for the funds or reject the payment request because it was not what he promised. This mechanism ensures, that the funds are only release if the creator of the proposal did what he promised. The NavCoin network decides everything, there is no central authority which makes the community fund 100% decentralized.
The community fund is quite new but there have already been some proposals that were accepted like paying for the development & hosting of NAV block explorer, the creation and distribution of NAV car stickers to the community for free (or paid by the community fund), the funding of interns for NavCoin Core, translation of the website into other languages and YouTube videos. What ideas could you come up with? By the way: this article was also sponsored by the community fund :-)

Proof of Stake
Like said before, NavCoin uses the Proof of Stake algorithm to create and validate blocks. Participants of the NavCoin network can earn rewards by putting their coins to stake and thus validating blocks and securing the network. The reward used to be 4% fixed but recently changed with the implementation of PoSv3. Currently, rewards for stakers that are staking 24/7 is about 10% but it is dependent on how many people are staking. If more nodes come online, this reward will go down. If 90% of all NAVs would be at stake, stakers would still earn 4%.

Tutorials And Guidelines [3]
The NavCoin Core team pushes the community to contribute to the NavCoin ecosystem constantly. They emphasize that NavCoin is an open source project and everyone can contribute. The team tries to make it as easy as possible for the average person to contribute and thus created different tutorials and guidelines.

Tutorials To Contribute To The Website
The whole website is open source. Everyone can contribute to the website. The team created different guides for people to follow [4].

The NavCoin Developer Manifesto
The content creator core team has build a developer manifesto. It defines the values that should be uphold like for example that they will always operate in the best interest of the network. If defines the principles, purposes, scope of involvement and operational requirements [5].

The NavCoin Content Creation Manifesto
Similar to the developer manifesto, there is also a content creation manifesto. Again it defines the principles for creating content, the purpose, the scope of involvement and the operational requirements [6].

NavCoin Brand Guidelines
In addition to the content creation manifesto, there is also a brand guideline booklet. This should help content creators to create images, videos, articles etc. in the same style as the core team. It defines the NAV brand. The brand guidelines contain definitions, the language to use (words to use, words not to use), the tone of voice, what the community aspires to be and what we discourage to be. It also contains the logo pack which can be used in graphics etc. It describes correct logo spacing, logo placement, the colors of NAV and different web assets. It gives tips about gradients and overlays, the typefaces (with a font pack) and many more. Check it out yourself [7].

NavCoin Educational Series
The core team has decided to actively involve the community in the creation of new features. For this reason and to allow users to ask questions, they created the NavCoin Educational Series. The core team schedules an online live meetup which can be joined by everyone. On YouTube they do live-streams and explain upcoming features. Examples of these series are explanations for cold staking, static rewards (PoSv3) and the community fund. The community can ask questions live and the core team will answer them immediately.

Community
During the last year there have been an influx of software developers from the community starting to create features for NAV.

navexplorer.com
An examples is navexplorer.com which is programmed by community developer prodpeak and is a block explorer for NavCoin. Additionally, it functions as a interface to see what is going on in the community fund. It shows pending proposals and payment requests.

NEXT Wallet
The NEXT Wallet is an alternative wallet for NAV and other cryptocurrencies. It has a beautiful user interface and is additionally the easiest interface to interact with the community fund (create proposals, create payment requests and vote for proposals and payment requests). It is programmed by community developer sakdeniz who put hundreds of hours into it during last year.

There were also some marketing activities starting to emerge with the release of the community fund. Some of these were for example free stickers for everyone in the NAV community to stick to their car / shop / window etc. or YouTube videos of CryptoCandor and Cryptomoonie that explained the details of NAV. I am sure, that with the 500'000 NAV available in the community fund per year there will be an influx of gread ideas - development as well as marketing activities - that will be funded.

The Future

Introduction
These features are planned for the future. Many of the following features are part of the 2019 roadmap. Some will not be described in great detail because not much is known about them yet. I've still listed them as they are part of what is yet to come.

Features
Rimu - Improved Privacy Solution
NavCoin used to be a optional privacy coin. That means, that you could choose to send a transaction in private. NavCoin was criticized for the way it handles private payments because it relied on a few servers which didn't make it that decentralized. The technology was called "NavTech" and was a secondary blockchain that obscured the transaction and the amount that was sent. NavCoin Core is currently developing a new improved privacy solution that will make the private payment system completely trustless and districuted and runs at a protocol level. Alex of the NavCoin Core team has published a paper that describes this new privacy solution. It's called Zero Confidential Transactions and can be found here: https://www.researchgate.net/publication/330366788_ZeroCT_Improving_Zerocoin_with_Confidential_Transactions_and_more. What I want to highlight is the collaboration between Alex as the proposer of the solution and the Veil team, a Bitcoin Core developer and Moneros main cryptographer as reviewers. When the best work together, it will be interesting to see what the outcome is!

Valence Plattform [8]
Valence is an applied Blockchain platform that can help businesses realise the tangible benefits of blockchain. You can think of Valence as a platform with which you can build Anonymous Distributed Applications (aDapps) with. But Valence is a different kind of platform that enables developers to create new types of blockchain applications. The problem with current (turing complete) dApp platforms are their complexity and rigid nature. Security holes in smart contracts and scaling issues happen frequently [9].
Valence provides transitional pathways that let businesses migrate only part of their activities to the blockchain without having to restructure their entire business model [9].
Valence will provide a spectrum of blockchain application solutions which sit along the decentralized spectrum, offering businesses simple ways to dip their toes into the blockchain at minimal risk or complexity [9].
Thanks to the proof of stake nature of the Valence blockchain, more of a node's resources can be used for processing and routing application data which makes the platform faster and scalable.
Valence aims to make building blockchain applications as accessible to the general public as WordPress or Squarespace has made building websites.
The developers NavCoin and Valence aim to make Valence extremely easy to work with:
A Valence application could be an open source mobile or web application that submits unencrypted or encrypted data directly to the blockchain. The only configuration necessary for the app developer would be setting up the data structure. Once they've done that they can start writing to the blockchain immediately.
The Valence blockchain interface is language agnostic, meaning developers are free to build applications in whichever language they're familiar with, which greatly reduces the barrier to entry.
As the platform progresses, Valence will introduce more and more smart contract templates in collaboration with the development community. These will be like plugins that users can simply select and configure for their application, without having to reinvent the wheel and risk contract errors or spend countless hours of research to program them.

NavShopper
The following information is taken from the latest weekly news: NavShopper is a new project which will allow people to spend NavCoin on a growing list of retailers and service providers. NavShopper sits between traditional retailers accepting fiat and NavCoin users and purchases products on behalf of the user by managing the crypt-fiat conversion, payment and shipping. This project will unlock many more ways for people to spend NAV on existing websites/marketplaces without requiring each site to individually accept cryptocurrencies. Some of the prototypes we are working on include crediting your Uber account, buying products on Amazon and donating to charities.

Kauri Wallet
The Kauri Wallet aims to be an open-source, multi-currency wallet which functions as a foundation for other features.

Kauri Enhanced
Enhancements to the Kauri Wallet will allow multiple accounts, pin numbers, recurring payments and more.

Kauri DAEx
The Kauri DAEx is a Decentralised Atomic Exchange that utilises the features of the Kauri Wallet and enables users to create safe peer to peer atomic exchanges for any currency supported by the Kauri Wallet. NavDelta NavDelta will be a payment gateway that allows users to spend NAV at any business which accepts currencies supported by the Kauri Wallet. NavMorph NavMorph is a fusion of Rimu and Kauri DAEx and will allow to privately send every cryptocurrency supported by the Kauri Wallet.

Outro

If you have made it this far: Congratulations! You have learned about how NAV evolved, what its current state is and what the future will bring. To sum all up: NavCoin has made incredible progress during last year and released many long awaited features despite the bear market. Many more exciting features are yet to come and it's going to be very interesting to see where we will stand on this day next year.

Giveaway

Unfortunately, the giveaway was not possible in the cryptocurrency-subreddit because of their rules, so I'm doing it here :-) As a surprise, in the next few hours I am going to send some NAV to everyone who wants to try out the awesome features you have read about above.
To get your NAVs, all you have to do is the following:
If you liked the experience, I'd be happy to hear back from you :)

References

[1] https://encrypt-s.com/company/
[2] https://navcoin.org/en/roadmap/
[3] https://navhub.org/get-involved/
[4] https://navhub.org/how-to-guide/
[5] https://navhub.org/assets/NavCoinDeveloperManifesto.pdf
[6] https://navhub.org/assets/NavCoinContentManifesto.pdf
[7] https://navhub.org/assets/NavCoinBrandGuidelines.pdf
[8] https://valenceplatform.org/
[9] https://valenceplatform.org/learn/business-on-the-blockchain-made-easy/
[10] https://bitcointalk.org/index.php?topic=679791.msg8320228#msg8320228
submitted by crypto_sIF to CryptoCurrency [link] [comments]

Weekly news review ( November 2-8)

Weekly news review ( November 2-8)
Happy Monday, Community!
As always - it's time for last week's news highlights!
https://preview.redd.it/7zzd32ucv0y31.png?width=1200&format=png&auto=webp&s=adae5e4e826885266c2be75f48a72b86ddf03b2f
The United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs (HMRC), has updated its cryptocurrency taxation guidelines for businesses and individuals.
The guidelines set out HMRC’s view on cryptocurrency transactions, which taxes apply, how to file tax returns and accounting practices, among others. It also considers the taxation of exchange tokens, while stating that rules for utility or security tokens will be added in the future.
The tax authority explicitly stated that it does not consider any of the current types of cryptocurrencies to be money or currency.
HMRC further recognized that the cryptocurrency sector is a fast-moving one and it will therefore look at the facts of each case separately and apply the relevant tax provisions according to what has actually taken place, rather than by relying on theory alone.

The humanoid robot named Sophia returned to the Web Summit stage, where she fielded questions from participants and journalists, including inquiries about blockchain technology and cryptocurrencies.
Sophia, who will turn four years old in February and who was inspired by the looks of actress Audrey Hepburn, was asked if she had an opinion on blockchain, Bitcoin (BTC), and cryptocurrencies. She answered:
“I know what cryptocurrencies are, but I do not use them yet myself. I don’t use money at all.”

An Illinois resident who won $500,000 in a state lottery has revealed he put half of it into Bitcoin (BTC) back in May. Redditor “Joxnlol,” posted an image of himself clutching the Illinois state lottery cheque on Nov. 5, with the caption: “Did this. Then put half into BTC in May. Remind me in 8 months if I f****d up.”
In a subsequent post, Joxnlol indicated that he plans to HODL the investment for a minimum of one year, revealing:
“I don't intend to touch any of it for at least another year. I set aside money for emergencies, I set aside money for myself, and I set aside money for tattoos. The only major purchases I've done is [...] bought a new car for myself and put a downpayment on a house.”

Bitcoin price will see $16,000 'soon-ish,' predicts Binance CEO CZ
Changpeng Zhao, the CEO of major cryptocurrency exchange Binance, says a price of $16,000 per Bitcoin will happen “soon-ish,” in a tweet sent on Nov. 1. Zhao explains that price predictions are easy, but getting the timing right is hard.
He said:
“Lol, price predictions are easy. It's just hard to be right about the timing. We will see $16k soon-ish. 1.4 billion people working on it as we speak.”
The message was an answer to the tweet of another user who pointed out that the prediction of an anonymous 4chan user predicting Bitcoin’s price would hit $16,000 by the end of October turned out to be wrong. The given prediction also stated that BTC will hit $29,000 in the first quarter of next year, $56,000 in Q3 2020 and $87,000 in Q4 2020.

Two former employees of Twitter have been charged with spying on thousands of Twitter user accounts on behalf of the Saudi Arabian government, likely with the purpose of unmasking the identity of dissidents.
Both ex-employees were recruited in 2014 by Saudi government officials with close ties to the Saudi crown prince, Mohammed bin Salman, to access sensitive and non-public information of Twitter accounts associated with known Saudi critics.
Twitter acknowledged that the company has cooperated in this investigation and that it limits access to sensitive account information "to a limited group of trained and vetted employees."

Let us know what you think in the comments section down below!
submitted by rokkex to Rokkex [link] [comments]

Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm (Full Article No Link)

Alan Booth is the CEO of one of Cryptopia, an exchange regarded as having one of the widest selection of tokens. Founded in 2014, Cryptopia is one of a handful of blockchain-focused companies in New Zealand.
The Cryptopia team is often tasked with researching hundreds of projects to determine their efficacy before any other major exchange has touched them. The exchange lists many projects in their early stages and post-ICO.
As an entrepreneur and business consultant for over 50 years, Alan Booth’s story is fairly atypical of that of many entrepreneurs in the cryptocurrency world. His perspective on the cryptocurrency is grounded in decades of business development experience, and he views the cryptocurrency exchange realm as one of the most exciting opportunities yet.
In the following interview, we dive into everything from cryptocurrency psychology, the coin listing process, and blockchain entrepreneurship.
How did you get introduced into the crypto world?
That’s interesting. I was consulting for Cryptopia or consulting to assist them in their development path for several months when it became obvious that they needed some senior leadership to move them from where they are, which was basically a reactive technical focus to a more business global focus on how we develop their business model. We are very conscious of the fact that you need a higher level of thinking. You need a global perspective, particularly from New Zealand because there’s not a lot of us down here.
That probably predicates why we’re a global business grown out of such a small population. We’d known each other for a while, certainly six months or so, and when the opportunity came up, why wouldn’t I move from a very safe, comfortable, fun job that I had previously, which was the chief executive of an international flying school. Nothing really scary goes on there.
I am at the latter end of my working life, somewhat semi-retired and all my colleagues went, “You’re going to do what? Are you kidding?” Of course, the blood pressure went up and I said, “yeah, I’m going to have a go at this.”
So, it’s really about the opportunity when you’ve learned so much over 40 or 50 years of developing business models and floating companies and taking them to the world, which is primarily what I’ve done. To find something that’s new and a full of excitement and fear and trepidation and where is all this going? Then it’s an opportunity you can’t afford to pass up. So, it’s just the daredevil saying let’s go.
The risk and the general fervor for the industry have gotten a lot of people very excited. What are the top concerns for exchanges moving forward from your perspective?
They are many fold and they are variable based on feedback from the community and somewhat driven by legislation, driven by corporate requirements. The FinTech world, we’ve got to look at that as well as the coin world. If we want to grow and deliver a product that the average consumer can consume, then we have to deliver all the things that they would typically expect. So, if you went into a retail store to buy a heater, you expect to have a warranty.
You expect to be safe, you expect to be treated well with clarity. And typically, the coin industry to date has not been very good at that because it’s been evolving and mostly evolving from a technical perspective with probably less weight put on the public consumption of the coin. It’s being technically driven as a technical product when you look at it. When you go to the exchange, some of them take a fair bit of thinking about before you can operate.
So, for us, the first thing is trust. If people can’t trust your brand, and that means every part of it, you’re not going to succeed. So, we are very proactive here in New Zealand, talking to legislators, government agencies in and out of New Zealand. KYC, AML, CML, all of that stuff. We are drafting our own internal rules and then most cases they exceed the requirements of our banking partners. So, they look at us and they go, wow, you’re way ahead of where we thought it would be. So, developing a trust relationship with our consumers and business partners is vital. The next thing is developing a stable and functional platform. I don’t just mean the coin exchange itself, but all of the underlying technology. Will we be up? Do we have latency? Are we speedy? Have we purchased the right partnership relationships for our equipment and how do we continue to be able to scale at will and not risk failing to deliver a result? That means helping people get an exchange done, their coins on and off. I suspect it’s the same as every other exchange.
Only thing is, down here, we have really focused on three things to move us very quickly forward. One is the public-facing components. That’s the help desk if you get stuck. We want to be able to respond very quickly. And like the other exchanges, we headed enormous influx in the early part of the year and that was debilitating. Nobody was ready for it. We employed teams of people to come in and train as support operators. We’ve since then spent a huge amount of money on a new ticketing system, which actually went live yesterday.
So, this morning when I come in, there’s smiley faces trying to get their head around it going, wow, this is amazing. So, we triage all the tickets on the inbound route now and puts it in a good space for our response team to reply as quickly as possible, I want. At the moment, we’re not there. Instead of being 40 or 50 hours and all these horrible delays, I want people to have a response from us immediately and I mean within seconds saying we’ve got your ticket. I can’t answer it right now, but we’re on you. Then, within hours, get back to those customers and fix their problem. They don’t deserve to wait 24 hours or 48 hours. People are anxious. Ticketing, we’ve done something about it. Highly trained staff, we’re employing all the time. We’ve developed foreign offices to beat the time zone thing. We now have a support office in the UK that we have had for some time, actually. The next thing is just the stabilizing of our software and hardware.
When you start these things, the enthusiasm and the inexperience of the development team may not know what’s here to them and now we’ve bought in bigger, stronger, international teams. So, that’s great what you’ve got, but let’s do this. So, that’s the phase we’re on now. We’re spending all of our money. In fact, every penny that we generate in this business goes straight back into furthering and developing the products. Nobody’s racing home in Lamborghinis or flying their jets around. They’re just piling into it.
So, that’s how I am in terms of producing a high-quality product. It’s not a decision we just made. It’s always been there, but we are now articulating it internally, that we want to be in the top five of crypto exchanges and digital asset exchanges of some form within the next two years. In the top five, bar none, in every respect.
Would you say the number one component of being thought of as one of the top five would be trading volume? Is that the primary metric?
I absolutely agree with you, but you can’t have trading volume unless you provide the other things first, like security, safety, a good trading platform. If you want trading volume, I have to have a reason for you to trust me, which has to be if I have a failure, will my ticket, be answered? If you do those things, you will get trading volume. I don’t believe you look at it the other way and say, hey, let’s create trading volume because if that comes at you hard and sharp, how are you going to cope with it when something breaks?
It’s technology, things will break. It’s how you address things that go wrong that made you successful, not what you put in place to drive that business in. That will happen if you’re good. The word gets out saying this is a great exchange. They fixed my tickets, they’re fast, they’re responsive, it’s safe. That will create trading volume.
Trading volume for us is income and of course, we want it. We have actually slowed down on coin listings. We’ve slowed down on taking new customers and we’ve slowed down on developing relationships with partners simply to get our platform in better shape so that we can become the most reliable, trusted partner you can have. That will create trading volume, no doubt about it.
Although trading volume does bring in a sizable amount of revenue, there comes a point where it just becomes a vanity metric where people are using an exchange simply because there just aren’t any better alternatives out there.. So, if there is an exchange that can offer all the features that you’re talking about and a premium level of service, then the trading volume will trickle down. There’s no real loyalty for exchanges other than preferences.
Absolutely. We wouldn’t ask for that. Why would you say to somebody, hey, you got to be loyal to us? That’s just silly. You will be loyal to us if I offer you a great experience. That means volume of coins, a huge range to trade through. Ease of trading. One click, two clicks. How about some trading tools just like you see in a modern foreign exchange opportunity? Some arbitrage tools, some tools for measurement, some nice desktop tools.
We want to introduce other things. It just means that you’ve got control over your own reporting and your own desktop environment. It can become a very powerful tool to use as long as we listen to the customers and say, hey guys, we can develop that. Give us a couple of months, let’s put it in front of you.
What is the coin listing process for you guys? What’s the process for someone who wants to get their coin listed on Cryptopia?
We’re just reviewing that and we’re being very focused on changing the way we list coins and who we list. We’re very conscious to gain trust. We are actually your first port of call for particularly those people who don’t know much about coin, so they have to trust their exchange partner. Therefore, we have to make sure that if we list a coin, it’s a viable trusted, honest coin that’s going to give value.
Not just to us as an exchange but it’s not a scam coin. It’s not something just to raise money, pump and dump thing. We have coin listing teams who are very tough. I have introduced people as the CEO to my coin listing team and I can’t get it through them. I’ve said, but these are great guys and I have a great story and I met them in Vancouver and boy, they’ve convinced me.
My coin listing technical team does all the due diligence. Everything from GitHub, Facebook pages, normal stuff like that. If it doesn’t look like a viable product to us on many levels, then it doesn’t get listed. That’s the end of it.
If [the coin] gets past that, we do further due diligence. We’ll actually interview the company. We’ll ask why do you want to list? Why do you want to list with Cryptopia? What’s your plan for the coin? What do you want us to tell customers because they’re going to be relying on us? So, we’d like to do more than just have a coin called 21 Million sitting on the exchange. How about if we had a link to that with some of the criteria we use to judge whether that was a good opportunity. Whether it was a good coin. We might have a 10-point plan and we might say, hey, this coin passed at 9.7. This coin is in, but it only got in at 2.4. Whereas the negative coins, the coins that have gotten negative plans, negative equity in our mindset, they just don’t get on the exchange.
We have a very large number of coins at the moment. We want to remain in that space, be the leader. That means that clearly, we’re not going to get it right all the time because we make mistakes and actually, so do the some of the honest and reliable coin generators. Their plans might not just happen, so they get the benefit of the doubt for a while.
As long as we see that they’re not doing something deliberately to disrupt the market or just to take money, then we’ll support them until they get their business model right. But we’re very focused on a coin listing to us is actually a business partnership. We’re not just going to throw coins up there.
I think 2018 is the year of reckoning, wherein 2017, pretty much anything got listed anywhere. It didn’t really matter how functional the coin was or whether it was legitimate or not. So, it’s really cool to see the trend in exchanges making a stance against that because if the ax falls, it doesn’t fall on the anonymous coin team that could be in Switzerland and Ethiopia. It’s falling on the CEOs and the exchange teams that are allowing access.
People come to us and they say, hey, I haven’t got my money. You’re the exchange. I go, well actually, the coin that we listed, I’m afraid the wallet’s faulty or they didn’t do this, or they ran away. People don’t care. They’re relying on us. That’s why Cryptopia has to be a business partner with each and every user, not just a provider of some coin listings. That would be unethical.
Absolutely, and it’s good to hear. Speaking of regulations, how do you think that’s going to evolve for exchanges, especially being out of New Zealand?
I welcome a regulatory intervention for many reasons. The primary one is that as soon as the regulators start imposing their will and taking notice, it means that it’s a genuine opportunity. They don’t waste their time on something that’s not going to affect global economies or our economy. For example, the New Zealand regulators, we’re working and we’re working with them because they recognize that somebody has got to work with them to tell them what’s going on.
The other side of the fence, that’s us. We have to work with them to say, you can’t do that because it won’t work in this environment. So, working with regulators is critical, in my opinion, and we’re doing that very well. Regulation has to come.
It was just announced in New Zealand a few days ago that we’re going to start, this is unrelated to coins, collecting GST, which is our equivalent of your local taxes, on online purchases. So, typically anything up to $400 that you buy online from Amazon, for example, in New Zealand, you wouldn’t pay tax on and they’re changing that. They’re taking the same view with coins. So, the government is saying, how do we tax revenue? When do we tax revenue? What should it look like? How do we make it fair for you, the exchange and how do we make it fair and manageable by the consumers who may have to declare a capital gain if they’re going, for instance, as an equity or a property as pure speculative fun like betting? And if that’s the case, when should we do this? Should we backdate all that stuff?
Every country is going through this and some have jumped in and made decisions that they’ve had to backpedal on. They were a little bit hasty. In New Zealand, in particular, we have a great relationship with the regulators and all the powers that be, right down to the banks, and are all looking at the space saying, you know what? We don’t quite know what to do, but let’s start doing something and I welcome it.
And the more understanding and control we have on these things at this early stage these next few years, the neater and cleaner will be over the next few years. Just as banking has become very stabilized through regulations, so will this crypto business, whatever it ends up looking like.
New Zealand has its advantages because a smaller population could make building direct relationships with regulating authorities easier. Tim Draper, for example, is investing in Papua New Guinea to try and make this whole digital citizenship country. The Binance guys just moved over to Malta. The global landscape just opened up, and governments will have to start offering distinct advantages to attract companies that could hypothetically set up virtually anywhere.
That’s great because that’s exactly what online trading is about. It’s online and it’s global. We have to join the global party, but we better start from a position of understanding and strength in our own environment. Make sure we have our own stuff together before we start yelling about what someone else should do.
Yeah, absolutely. Shifting gears a little bit, what do you think about decentralized exchanges and how they’re going to affect the whole exchange thing?
The quick and easy answer to that is it will definitely affect the global exchange market. It will definitely affect FinTech because if people who are regular investors and that’s people with mom and pops with a few dollars, right up to institutional investors, if they can see a way of generating revenue and it’s safe, they’re going to move there. They’re not going to discard their other investment opportunities and they’re not going to discard regular exchange-traded equities or working on the stock exchange. But there’s a space here that we haven’t quite worked out who that’s going to work for or how, but the more we regulate, the more we make the tools visible.
The stronger we look to the market and the more professional we look. That doesn’t necessarily mean just wearing a suit into a meeting, but the more gravitas we have behind those discussions demonstrating that we’ve done on the work and that we’ve got smart people here and the technology’s good. We’re ready to come and meet and talk equitably to investors and traditional investment houses. Then there will be a way that they join up. There’s no doubt about it. I mean, it can’t be helped.
How about the lightning network and atomic swaps where you could pretty much exchange peer to peer. You could trade Litecoin for Ethereum directly in one single transaction without an exchange. Centralized exchanges have their benefits, like for example, there’s someone you can knock on their door and say where’d my money go? I need customer support. So, there are advantages there, but then the advantages of a decentralized exchange are just the efficiency. I’m wondering how is that viewed for the centralized exchange world?
I don’t want people to take away my income opportunity. We’re building a business. We would argue, and I think it could be demonstrated to date until the blockchain comes up with some technical solutions. We’re building a trust environment and we are taking on, at considerable cost, the responsibility for providing the trust. First, it’s a coin that we like and here are the reasons. We’ve done the due diligence on your behalf. We allow the transactions to take place and here’s how we regulate, manage and deliver that transaction and manage the wallet relationships.
Cryptopia’s Coin Information display
That’s a role we take on. So, if you trade with a centralized exchange, you’ve got a whole lot of advantages that you don’t have by trading peer to peer. It’s fairly obvious what a peer to peer relationship looks like. If that’s on a personal level, that risk is much greater. If it’s on a more corporate structured level, I don’t know what that looks like yet, but I think we’ve got a long way to go before we could move from centralized exchanges to peer to peer simply because there’s going to have to be some regulation around it. How would the regulators engage in that space? Who are they engaging with? Every single person who wants to trade?
At the moment, they can deal with an exchange that has potentially 2,000,000 to 10,000,000 customers. That’s not easy for a regulator or a tax authority. So, there’s the regular regulatory component. That’s got to be there. Then there’s the trust management and then there are just a few more technical issues that I think have yet to evolve.
It all comes down to running a business. It takes money and capital to get all these users you want to get. If the technology works, that’s great, but onboarding users take resources. How do these projects plan on doing that? It’s just a missing component of every single white paper that tries to go after that who isn’t trying to build a centralized business to oversee it.
I think philanthropy is wonderful and when people are talking about decentralization. It’s a great idea and it’s philanthropic and it would be wonderful if the world could work like that. But there’s never been a business model that has worked without generating revenue. There isn’t one. Everyone’s tried, but you can’t name one that doesn’t have to generate revenue at some point or another.
Even if that revenue is simply generated to make the action happen, the hardware, the software, the bandwidth, someone’s got to pay. So, if you’re decentralizing, how do you get paid? How do you police it? How do you manage it? Why not stick to a model that works? And it’s not just about centralized coin exchanges. It’s not just about front-end institutions. This is a model that’s worked since the first inhabitants of Earth swapped a bean for a stick or can I give you my dinosaur to cook while I bring you a giraffe? I don’t know, but you can’t have a society without an exchange happening of some value in exchange.
Even if I go to a coffee bar with you, here’s the simplest thing. I would say, hey, I’ll meet you for coffee, on me I might pay for the coffee, but guess what? We’ve sat down and exchanged information. I’ve gotten something out of it. How do you do stuff without exchanging value?
It’s push and pull between advancing technology and proving the model works but then what’s the incentive to run it and popularize it because you’ve got that whole chicken and egg problem. We need a bunch of users for this to work efficiently, but we’re not going to make any money doing it. Hopefully, we’ll see how things play out in the next couple of months or years or decades.
I’m down for decades and a lot of failures. We’ll be there watching them saying we’ll help you if we can and hey, go and play guys, but come back here when it doesn’t work because we are going to be here.
What are your thoughts on Bitcoin dominance in general compared to all the other coins out in 2018? So, what does a cryptocurrency landscape look like if Bitcoin happens to fall down to, let’s say, 15\% or 10\% of the market?
Does Bitcoin really dominate or is it just big? If you look at the exchanges and watch the traffic, can you see as much traffic taking place and as much interest in the CoinCash or 21 Million or Kenya or any of these things? They’re all there and people are trading them for various reasons. Mom and pops are going to be doing this to buy a new car.
Someone else purely looking as a store of wealth and other people are looking to dominate a market. So, I’m not sure that you could say Bitcoin dominates. It might be the largest store of wealth at the moment. Does it dominate people’s thinking? I’m not sure about that. If you’re a coin developer, it’s your coin that’s dominant in your mind and you’ll go after a particular vertical, even a geographic market. So, you have the potential to develop your store or your story within that business scope.
Why does Bitcoin dominate? Simply because it was seen as an opportunity? Is it dominated because the people who trade in Bitcoin put so much faith in it being a store of wealth or an opportunity for capital gain? But a lot of those people have run away. That’s why it’s not $20,000 at the moment. It’s just trading between 8,000 and 10,000 in there. So, it stabilized. So, what if it fell over? Some people will lose money.
It’s not going to change the blockchain, it’s not going to change our thinking about cryptocurrencies. It’s not going to change Cryptopia’s approach to the market. It might dominate in volume. I’m not sure it’s the dominant force supporting cryptocurrencies.
I see what you’re saying. It might just be a dominance of user acquisition because there’s a larger chance they heard of Bitcoin instead of Ethereum if they have heard of cryptocurrency at all. So, it’s like the gateway crypto.
Take care that people aren’t saying Bitcoin just like a Hoover, the vacuum cleaner. Every vacuum cleaner for 20 years was called a Hoover. That was the dominant brand. Hey, I’m going to Hoover the floor. What they meant was I’m going to get my vacuum cleaner of which there are 80,000 different makes out there now and they’re going to vacuum the floor, but they just called it a Hoover. So, I trade in Bitcoin.
I’ll bet you someone who says, yeah, I trade Bitcoin, he’s only saying bitcoin because he knows or she knows that people understand that you’re referring to a cryptocurrency. If you say to someone I trade in Clearpoll or CoinMedic3, they have no clue what you’re talking about. They go what is that? Oh, it’s Bitcoin. Oh, I get it. If you went home to your mom and dad and they asked what are you doing? You’d say, oh yeah, I’m trading cryptocurrency. They’d go, oh? What’s what? You’d go, Bitcoin. They go, oh, that thing.
Bitcoin Cash is competing to be known as the Bitcoin for a reason. In the next four or five years, there are millions of people that haven’t even heard of crypto that would probably receive a lot of benefits from being onboarded into the cryptocurrency world. I’m not really sure how what they get onboarded to first matters immediately, but I know it plays a substantial role for a lot of people.
It’s an initiator. It’s a keyword that attracts them to the space that we’re in. It’s simply because it’s got brand dominance in the public persona. If you say a Bitcoin, most people know you’re talking about that strange online thing that no one understands and there are a few other coins, but we don’t know what their name is. As soon as they hit an exchange, if they really want to try it, they’re going to look at the next one down and say oh, I didn’t know that existed. They’ll make their way right to the bottom of the 2,000 list.
So, I really don’t think we should worry too much about dominance or anything that’s measured in that way in the space because the variables that change our value perception on any of these products is a mystery to everyone. A rumor can cause change overnight and things like that have happened. Guess what? They also happen in traditional exchanges.
Go to the London stock exchange and you’ll see a piece in the paper tomorrow that prices rocketed or have fallen over the next day because the public is there. The public is there late, remember. If you see it in the news, it has already happened. That’s the same thing for this.
So, what are your favorite projects out right now?
It has to be blockchain focused. I mean, coins seem to be a tool that are being used to raise capital, raise awareness, create hysteria over or some fun. Some of them, and I believe it’s very few of them, I wouldn’t like to statistically put a number on that, but I think it’s very, very few have actually got a basis of a typical good investment. Is company strong behind it? Do they have good ethics? Why are they doing this? What’s it for? Or is it just to raise money?
When they’ve got money they can go, oh, look how much money we’ve got. Let’s do something. That’s not the way to grow a business. Somebody has to have a good story that’s technically supported. It has to have social value these days. And that means is it good for mankind? Is it going to save the planet? Will it do something? Create manufacturing? Whatever it is.
Hey, I’m not a philanthropist. I’m not saying you’ve got to do something to save the planet. But the youth of today are much more conscious about anything we/they do is about social conscience and social values and responsibility. So, for me, any of those projects, whether they be blockchain based or coin based that do something more than just making money for a bunch of guys, so they can go buy a Lamborghini, gets more of a look and support from us than the others.
There are ways of going and creating wealth for yourself than preying on opportunities that exist simply because exchanges listed them. So, we’re very careful about that. So, I wouldn’t like to say at this stage, we have anyone in particular. We do have some businesses we’re looking at, but they all are very well rounded in terms of their sales pitch. It’s ethical, it’s got a good background.
They have strong management, a history. They’re well-funded already. They’re not just grabbing money to then decide what they’ll do with it.
Well said. The one point you made about how these projects need to be ethical and how that impacts those business models because again, you tap into to the same vein of projects that are looking to substantially change industries that had been stifled by inefficiencies or corruption.
It stretches a long way. If you find a solution that bugs business and usually if it bugs a business, it bugs and effects people, consumers, in some way. That might just be, where it’s blockchain related, securities and tracking things to make this whole trust environment that we live in. The point is we say we can trust but we can’t trust.
Everything we do is about trust. We get lawyers to look after our trust issues and we shake hands and we still wonder whether it’s a deal. So, solving trust issues globally is probably one of the biggest benefits to mankind because once we solve the trust issue, you can then be positive or confident that something that you want to happen and agreed to happen is actually going to happen. If it doesn’t happen, it’s not just about the broken trust. It’s then about the finances involved before you got there.
That’s all gone. The future has all gone around that business model. So, trust management in blockchain and around coins and around exchanges, decentralized exchanges, is probably the biggest thing we have to deal with. Which takes me back to my core development program right now, which is developing a trustworthy exchange.
Make it clear, unambiguous. Make it reliable, deliver what we said we were going to do.
What does a day in the life of Alan Booth look like? What do you do for fun when you’re not doing exchange type things? If there’s even time for fun.
If you’re running an exchange, it’s 26 hours a day to run an exchange. If you can squeeze another hour in, you might find some fun. This is probably my last employment opportunity. I’m in my 60’s. I’ve spent 50 years being an entrepreneur and an arm waver. Wave your arms and see who’s taking notice and make something happen.
So, fun for me is actually the exploitation of a business opportunity. I go to bed hoping that I wake up in the night with an idea to scribble on the pad. I come to work a very early. I’m up at 5 am. I get here at 7 am if I can with the work already done. I don’t want to arrive at work and look at emails. If you’re looking at email and other stuff, it’s other people’s requests on your time. I’m going to arrive here being creative.
I want to arrive every day going, I’ve got nothing to do except be creative and compel all of my employees and partners to support that creativity and bring their own creativity to it. So, you couldn’t have more fun than that, could you? What else is there? Just to make stuff and see people get excited and give them the opportunity.
But when I’m outside of this, hey, I liked to fly light aircrafts. I ride fast motorbikes. I do guy stuff, and when I’m not doing guy stuff, I’m at home helping my wife in the garden. Just an ordinary guy. Most of my daylight waking hours is about being that global entrepreneur with regard to this huge global opportunity which is let’s change the world.
It’s like moving from coal to steam, steam to mechanization, mechanization to electronics, and now we move into the digital age and we’re in it. What a fantastic place to be.
So, how exactly do you do that? Do you just wake up earlier and just get everything done at 5:00 AM?
There’s never enough time in the day. What it is, it’s being super critical about what’s actually important. If you open your email when you get to work, I will guarantee that you will sit there procrastinating and jump between emails. Most people don’t work from the top to the bottom or the bottom to the top. You’re a little bit selective, so already you failed to do what people expect you to. Email and inbound inquiry are other people’s expectations of how to use your time.
They’re imposing their requirements on you. So, you’ve already allowed yourself to be managed by outside rules. You’ve got to arrive at your office with nothing that interferes with the creative process of why am I at this office? Why did I come here? I came here to understand what we’ve got. So, that’s a constant job. To work with the clever people that you have employed. I have a major role in employment and myself. Only employ smarter people than yourself, only. Because if you’re employing people that aren’t smarter than you, you’re going to have to tell them what to do and you don’t have time for that.
Now, employing people smarter than yourself, for me, that sets the bar quite low, that’s easy, so I get really good pickings. But, generally speaking, you need to employ the best people and get them going and then you’ll be so busy running around trying to keep up with him, not them keeping up with you, that you actually have no time for all that outside noise. You’ve got to impose on the world what you want, not the world imposing on you what they want. Turn it around.
Every time I have a conversation with somebody, it’s about what I want, in the nicest possible way. We will listen to inbounds but we already have a path to follow. If you start following other people’s paths, you’re not going to get where you want to go.
Here’s the thing. I’ve been a business mentor for probably 20 years.
Mentoring basically new CEOs. New CEOs, it’s the loneliest job in the world because it might be your first CEO job, so you can’t talk down because those people below you expect you to be the boss, so you can’t ask them. You can’t talk up because you’re the CEO. It’s no good asking the board, they’re looking down at you. You can’t talk sideways because they’re your competitors. So, the first year or two as a new CEO is the loneliest place on the planet.
So, what you have to do is be entirely focused on what you need to get done and that is by changing what you used to do before you became a CEO or a boss. What you used to do is respond to every bit of noise that came at you and it filled your day up until you went nutty.
Thank you! Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm
CoinCentral's owners, writers, and/or guest post authors may or may not have a vested interest in any of the above projects and businesses. None of the content on CoinCentral is investment advice nor is it a replacement for advice from a certified financial planner.

Alex Moskov

Alex is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.
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BINANCE: A DRIVER FOR BLOCKCHAIN AND CRYPTO-CURRENCY ADOPTION

  1. Introduction Binance is an exchange company formed in 2017. If one may ask, is Binance just an exchange or a progressive crypto exchange? My answer is that Binance is not just a crypto exchange company but an 'engine' that drives crypto-currency adoption. How? My readers may ask. My answers will first start with a simple analogy of what is adoption.
Adoption is a process whereby a person assumes the parenting of another, (usually a child, from that person's biological or legal parent or parents,) and in so doing, permanently transfers all rights and responsibilities, along with filiation, from the biological parent or parents (Wikipedia,2018). In the sense of crypto-currency it is a process whereby a person assumes the parenting of another ( new idea or way or thing) and in so doing permanently transfers all rights and responsibility that belong to the old or normal way to the new way. Driving in the other hand is knowing how to operate the mechanisms which control the system (vehicle); it requires knowing how to apply the rules of the road (which ensures safe and efficient sharing with other users). An effective driver also has an intuitive understanding of the basics of system (vehicle ) handling and can drive responsibly (Jacob,2018). A driver may be a person, company, a system or device that knows the mechanism which control a system and the driver must formulate or know the rules and the basics of directing the system to its target. A device driver for instance is a system (computer program) that operates or controls a particular type of device (EMC,2010). In our case we are looking at crypto-adoption driver, a person or company that knows the mechanism which can be used to make greater number of people to transfer permanently the rights and responsibility of fiat money to blockchain currency (Crypto-currency).
A clear case of driving adoption can be easily seen in Football which have been in existence long ago, but FIFA devices a way to entice all nation to participate and develop football infrastructure in there countries by moving Football tournament hosting around different regions and other things they did to make the sports to be popular (adopted) all over the regions of the world.
Similarly, crypto-currency have been there before Binance started, crypto-exchanges have been there before the advent of Binance but what Binance did and what they did not do helped in replicating adoption across all the regions of the globe. The only challenge here is whether these position can be substantiated?
  1. The Authors experience My name is Bartholomew Eke (PhD), a Software Engineer and Senior Lecturer at the University of Port Harcourt, Nigeria, Africa. I developed interest on cryptocurrency in 2010 after reading Nakamoto published paper Bitcoin: A Peer-to-Peer electronic cash system (Satoshi,2008) which I saw as a research on cryptography protection of online payments. I didn't well understood it until on Febuary 2014 on hearing that Mt. Gox the largest Bitcoin exchange tend, had gone bankcrupt and had made away with depositors 'Coins'. The word coins attracted my interest, I wondererd why they should be keeping the Coins instead of the notes, but I latter learnt it was not Coins but Bitcoins. Before that time Satoshis's Bitcoin was simply viewed by me as a research exercise aimed at improving crryptography which I had many programs on. The research on tracking of Mt. Gox Bitcoin in the publication of Sarah et. al (2016) increased my interest in Crypto-currency and exchanges research. The research is still ungoing though I have published some of my findings but one of my crushial discovery is that Binance is not just a cryptocurrency exchange but a driver of cryptocurrency and blockchain adoption. I am one of the few people trading in crypto exchanges as part of my research project so it often does not matter whether I gained a trade or lost provided I made my findings. I have used more than 15 exchanges only on experimental bases some of which include Coinbase, Blockchain, Kraken, Bitrrex, Tradesatoshi, Binance, Kucoin, Bit-Z, Cryptopia, Luno, Abucoin and Cryptagio just to mention a few. My criteria of registering include Low volume, High Volume, Low fee, High Fee, difficulty of registration, exchange incentive, exchange policy, cardinal goal of exchange, Fiat or non-fiat, age of exchange and other criteria which I will still publish in my future paper. I have lost and gained crypto in the process of the research but I saw some things that Binance does differently which may or may not have contributed to surge in users interest.
  2. Binance Key Drivers In discussing the story of a young exchange called Binance there are some findings worth mentioning and they include: i) Segregation (Discrimination) : In all the money transfer companies and exchanges I have studied before the advent of Binance there is serious segregation among its customers. In some exchanges this differentiation is very scaring but in Binance it is very minimal, unnoticeable and almost non existent. I will use three experiences to explain, in Coinbase my country (Nigeria) can not trade but they can deposit and withdraw crypto, so why allow them to register only to segregate. Most exchanges, majority of users do not withraw more than 1BTC per day but exchanges group them into three level of users which have different withdrawal limits ( which is very OK for some reasons) but many exchanges go further to place trade restrictions based on this segregations. For instance Cryptopia do not allow you to trade USDT or its equivalent if you are not in certain levels. Bit-z will not allow you to participate in some trading competition or even get airdrops if you are not in some category of user. There are more instances but you will not experience any difference as a user until you want to withdraw above certain limits in Binance. Binance operates little or no discrimination allowing 'Private Crypto' users to remain in level 1 and operate freely provided they withraw smaller amounts. There are many world micro scale and unbanked users who can not afford to get any valid government ID for level 3 registration- Binance is were they fill welcomed. I spent some months as level 1 client and now am in level 2 but my withrawal is hardly upto one BTC a day so I feel no difference but that's not true with many exchanges. ii) Incentives: The unprecidented incentives that Binance offer can make some body with zero dollar to be a marchant with Binance. In November 2017, I told my research students who do not have funds to complete their research work, to register in Binance and generate money to finish their research; they did and are about to graduate. Binance empowered them, they simply registered, got some Airdrops from some new crypto companies, sold and traded with the money and where given trading bonuses and they sold the coins and paid for there research costs via Binance. Their trading incentive vary so much that all kinds of traders benefit, to be more concrete Ontology had a condition of trading 0.5BTC over a week. Using $100 a trader can easily trade five times a day which is $1000 buy-sell volume, in five days that is $5000 volume above 0.5BTC at that time and they gave 1000 ONT which was worth (at some time) $10000, what else is incentive or empowerment. No one can deny these facts. Some new exchanges have copied these model which is great for cryptocurrency adoption. All young school leavers in my area are into Airdrop due to this model introduced by Binance. iii) Low trading Fee : Binance is a cryptocurrency which is accepted for transaction in my local domain thanks to the exchange, for the past six months IT training centers in my locality accept and use Binance as payment for IT training. Trading fee is half when the coin is used to pay for fees but due to its relative stability Binance have found usage in other payments. Beginners can easily learn trading at reduced cost due to low fees. Majority of crypto traders in Binance are startup traders who are learning fast due to trading incentives. iv) High Volume: One of the Support team in Abucoin said that people go to Binance because of there high trading volumes, many people still have the same opinion. But as an academics I know that at a time Binance traded less than 1BTC during their starting stage either as one second or one minute trade volume, they did not start the first second of opening trade with large volumes. BTC only have less than 40% of all Crypto (Coinmarketcap,2018) and Binance introduce good altcoins which was followed by volumes. I was told when Binance started by a forum friend that an exchange that does not offer fiat currency will not attract traders but I differed, insisting that a trader will always prefer to make money in 'Aghanistan and spend it in Paris'. If a trader can ingage in quality trade in an exchange he will only go to the next exchange for cash-out. Cashing out is not always a problem once there is another exchange that is ready to exchange even a single crypto like Bitcoin or even TUSD or USDT. v) Honesty: Binance is an honest exchange, they promise they will distribute prices for trade in a given time you will get it before the time or right at the time they promised. Some exchanges do not add crypto handling delays when they make promise only to discover that a transfer may take 30 seconds today and 3 days the next hour. Binance will tell you two weeks after trading competition the coins will be distributed, they do not usually mean it. What they actually said is that "in two days time after context we will send the winners there coins and the coins can take at most 10 days to reach". In most cases the coins reach in seconds instead of the added days they promised. Cryptocurrency is scary and new users are afraid of dealing with faceless customer service personnels, emails and text messages. What they always want is "your coin is confirming 1/30 confirmations"; they can go to sleep believing that in 5days the coin will be their own. Binance delivers on promises. When they found abnormality that will make customers loss they will raise alarm. For instance during Bytecoin surden price spike in early May 2018 they warned customers to trade with cursion explaining that coin deposit problem may have caused price abnormality-honesty. They constantly remind you to trade with their Binance coin for low fee even when they know that your failure to do that results to higher fees and more gain to the company but they prefer to honestly warn customers. v) Selection of Promising Alt Coins: I am a lecturer in Africa and have never worked with any crypto company but I have traded more than 15 coins in Binance (the evidence is the piece of coin left) but the coins are promising. The coin that is usually at the bottom of the Binance volume is Via Coin which is still a good coin (from my accessment). Most of the coins listed in the exchange easily move up creating great choice and selection space for traders. When crypto exchange grow, users grow and trading space need to grow, Binance is master in that strategy. If a company produces a fake coin or even a 'good coin' with bad road map they will not even approach Binance for listing for two reasons- fear of not spending their money since they do not have plans to make more money from long term plan, fear that there listing request will be rejected. The choice of coins cut across prices and different rating in Coinmarketcap; Binance does not wait for a coin to be in the first 100 before listing them rather if they believe the coin is promising they select the coin. vi) Recognition of developer community Any IT company today that do not take care of its developers or technical teams well will loose them to other cryptocurrency companies and there are many of them coming up. Exchanges seem to believe that there job is to deal on other peoples products but Binance has shown that the best we to understand the crypto world is by been one with it. Binance is not just an exchange, it is a cryptocurrency, a blockchain technology and security and software development organization. This is correct but that can not be said of many exchanges except those copying Binance model. Surprisingly those exchanges copying Binance are also getting visible result. vii) Efficiency and Speed of Site and Trading App. There are things that the Western countries take for granted- power availability and very high speed internet connectivity. Readers of this story from advanced nations should jump to the next point. But the rest of the world have little power which is not even available always and internet cost are high and speed are extremely low. Even when the provider have technology to provide high speed users prefer to have their data last for one full month than to see it finished due to high speed usage. Some times provider intentionally slow down speed to avoid customers outcry of quick finishing data. This calls for exchanges to carry majority of users along in developing there trading platforms. The faster the better and Binance is acting and continues to work on this. viii) Security This is closely related to technology since internally trading apps needed to be upgraded to remain ahead of hackers, crakers and phishing organisations. Early in the year 2018 Binance had a phishing attack, we could easily imagine the state of the cryptocurrency exchange now is they had suceeded. But the phishers could not still coins even when they have broken in, this increased users confidence in the exchange and draw more new clients. The new features added to the exchange have even made email phishing extremely difficult to phishers. There are other security features added which users can sence but are hidden to public discussion. ix) Rich Binance is a rich company, rich in their attitude to the world community, rich in income generation, rich in the way they give to start up companies even when they are also start up themselves, rich in their logo and rich in communicating with customers. Rich in innovative ideas. Binance is rich. Poverty repels, so Binance will keep attracting every body to itself. x) Binance is blessed with an experienced and humble CEO When a company has an experienced leader the multiplier effect is seeing on the rest of the staff. Innovative staff will have little headache in getting their ideas approved. An arrogant leader is a liability to a company and make the company to keep regreting its actions. The leader is planning to go to Malta but he is still insisting that it is just a branch of Binance making the current host the consider its stands on tough regulation.
  3. Binance Road Pot Holes A driver must be careful about pot holes else his good car may tumble. Binance no dought now is really a cryptocurrency innovation adoption driver and must watch out for the following. i) Rise of Communities around cryptos Communities grow a company and communities make companies to go down. If all traders pull out from Binance the company will be history. When Bitcoin started, there was one cryptocurrency community, one group of Bitcoin developers, one Bitcoin enthusiast, but today that is far from the reality. We now have many Bitcoin communities (BTC, BCH, BTCP, BTG etc) and many altcoin communities. Passion have started to roll in these communities and support is continously solicited and soon tougher competitions will ensure the coin to list need to be voted for and a new way for paying for coin listing should be deviced using Binance Coin to vote. ii) Ico Support Binance supports ICOs but for more than three months there LaunchPad on their website have being showing Bread and Gifto, this is very bad. When not launching a coin the LaunchPad need to be empty and when new coin are not coming to the Binance LaunchPad the LaunchPad should go to new coins. Binance community can vote to select the next coin that will go into the LaunchPad. If it required payment then they can use their binance coin to vote and get rewarded by the new coin in a form of shared bounty or airdrop. iii) Strong Community We have discussed the rise of communities, binance is lacking on strong community (a group that have strong passion for Binance as an Exchange, a Cryptocurrency and as a Technology). A community driven by volunteers and not by Binance employee, a community that will work for the passion and not for duty. I see three Binance and the group must be very passionate about the three. This may not be group of Binance Traders - no they are too busy and have no coin or exchange friend. Binance may be working towards this direction in the Binance Angels project but wisdom must be used to get the correct arrow head of the community and to actually let go of the person to freely handle the community. If the staff want to lord it on the community followership will be for duty not for the passion. iv) Binance Bounties Binance have so many trading bounties won after the competitions. This is good but part of this bounties need to be used to bring in more new users who will register and a buy Binance and smaller amount for new members without any conditions. The trade competitions the way most of them are ends up in the hands of already suceessful members who can trade once a day and win the competition due to there financial musle. These group of big traders are highly desirable and will continue to remain in the first to third places. But future members need to be attracted with the little tokens falling out from every bounty. v) Need for Binance_Inc Exchange Binance is so big and will get bigger. Binance need to have another cryptocurrency exchange, but instead of just an exchange Binance should have an incubator exchange. 'Division Two exchange' this exchange will be low volume and should serve as a source for listing in the main exchange. If a coin is performing with high volume it can be moved to the main exchange. In a crypto in the main exchange is not performing in they can be moved back to the incubator exchange. In this way Binance will remain the technology and develop in other areas.
  4. Binance as an Innovative Crypto-currency Adoption Driver It has been said that adoption is the original dependent variable in innovation research and the desirable property of innovative systems which change agents seek to enhance. "Innovation" on the other hand is any change in structure, design, products, or processes in which there is a definable new element introduced into the system; the process is essentially the same for all technologies including blockchain technologies. In innovative space the characteristics of people or organizations are associated with higher levels of adoption and the company that makes the adoption to happen faster is very innovative. The voiced or unvoiced assumption underlying the examination of correlates of innovativeness is causal: If we manipulate the characteristics of organizations or individuals so that they more closely resemble those of the highly innovative, we will make the organizations or individuals themselves more innovative (Eveland, 1979)
Conclusion It is very easy to conclude this article by saying that since Binance was able to make more people to adopt cryptocurrency in a fast manner that they are not only drivers of cryptocurrency adoption but they are Innovative. Ask of an innovative cryptocurrency exchange the response should be Binance, when they move others copy so without the statistics of their trade volumes one can easily see that they are truely the leaders that the crypto exchange space have today.
References Eveland J. D. (1979) Issues in Using the Concept of "Adoption of Innovations", Journal of Technology Transfer, 4(1) 1-13, Retrieved 2018 from jdeveland.com/papers%20for%20Website/adoption.htm
EMC Education Services (2010). Information Storage and Management: Storing, Managing, and Protecting Digital Information. John Wiley & Sons
Nakamoto S. (2009) Bitcoin: A Peer-to-Peer Electronic Cash System, Retrieved 30 May, 2018.
Sarah M., Marjori P., Grant J., Kirill L., Damon M., Geoffrey M. V., and Stefan S.,(2016) A Fistful of Bitcoins: Characterizing Payments among Men with No Names, Communications of the ACM, 59(4), 86-93,USA.
Jacob M. Appel (2018); "Must Physicians Report Impaired Driving? Rethinking a Duty on a Collision Course with Itself"; Journal of Clinical Ethics (volume 20, number 2).
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Top 50 Cryptocurrencies

Top 50 Cryptocurrencies
I thought this might be of real help for the ones that are just joining crypto and still want to read.
Let’s face it: there are a lot of cryptocurrencies out there, with new ones coming out almost daily and old ones disappearing seemingly just as fast as they appeared. It’s easy to get overwhelmed.
If you are new to cryptocurrencies, this is an excellent starting point to learn about each of the top 50 cryptocurrencies (by market cap). Even if you’re a crypto veteran, this is a great resource to reference if you ever get any of the top 50 confused, or if you want to read more about a new coin which has joined the ranks.
Our hope is to point you in the right direction, spur your interest to do more research, and steer you away from the potential scams out there (And yes, there are potential scam coins in the top 50!)
Here at Invest In Blockchain, we are obsessed with researching the internet for all things crypto. The information found in this post is the result of hundreds of hours of painstaking research by me and other writers on our team.
Note that this list is constantly changing and I will do my best to keep it up-to-date, but the top 50 moves almost daily! Please refer to coinmarketcap.com for the latest information on the top 50 cryptocurrencies and their prices.
Let’s get started!
(Information accurate as of May 23, 2018)

#1 – Bitcoin (BTC)

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The king of the crypto world, Bitcoin is now a household name; to many, it is synonymous with “cryptocurrency”. Its purpose is to provide a peer-to-peer electronic version of cash to allow payments to be sent online without the need for a third party (such as Mastercard).
The rapid rise in Bitcoin’s price has brought about an explosion of new Bitcoin investors. With the huge increase in interest has come a rise in merchants accepting Bitcoin as a legitimate form of payment. Bitcoin is fast moving towards its goal of becoming a currency accepted worldwide.
Bitcoin’s development is led by Bitcoin Core developer Wladimir J. van der Laan, who took over the role on April 8, 2014. Bitcoin’s changes are decided democratically by the community.
For an in-depth look at Bitcoin, including an explanation of Bitcoin mining, Bitcoin’s history, an analysis of Bitcoins’ value and a description on how bitcoin actually works, see our comprehensive guide “What is Bitcoin? Everything You Need to Know About Bitcoin, Explained“.
For a more detailed description of Bitcoin’s economics, what makes money and how Bitcoin works in the economy as a whole see: “Bitcoin Explained” and “Bitcoin is a Deflationary Currency”.

#2 – Ethereum (ETH)

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Ethereum is the revolutionary platform which brought the concept of “smart contracts” to the blockchain. First released to the world in July 2015 by then 21-year-old Vitalik Buterin, Ethereum has quickly risen from obscurity to cryptocurrency celebrity status.
Buterin has a full team of developers working behind him to further develop the Ethereum platform. For more background information on Buterin, read our article, “Vitalik Buterin: The Face of Blockchain”.
Ethereum has the ability to process transactions quickly and cheaply over the blockchain similar to Bitcoin, but also has the ability to run smart contracts. For future reading on smart contracts, see “What’s the Difference Between Bitcoin and Ethereum”; but for now, think automated processes which can do just about anything.
For further reading on Ethereum, including an analysis of the platform’s strengths and future prospects, read “What is Ethereum, Everything You Need to Know Explained“.

#3 – Ripple (XRP)

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Ripple aims to improve the speed of financial transactions, specifically international banking transactions.
Anyone who has ever sent money internationally knows that today it currently takes anywhere from 3-5 business days for a transaction to clear. It is faster to withdraw money, get on a plane, and fly it to your destination than it is to send it electronically! Not to mention you will be paying exorbitant transaction fees — usually somewhere around 6% but it can vary depending on the financial institution.
Ripple’s goal is to make these transactions fast (it only takes around 4 seconds for a transaction to clear) and cheap.
The Ripple team currently comprises over 150 people, making it one of the biggest in the cryptocurrency world. They are led by CEO Brad Garlinghouse, who has an impressive resume which includes high positions in other organizations such as Yahoo and Hightail.
Check out “What is Ripple” for more information, including a closer look at what they do, controversies and future prospects.

#4 – Bitcoin Cash (BCH)

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Bitcoin Cash was created on August 1, 2017 after a “hard fork” of the Bitcoin blockchain. For years, a debate has been raging in the Bitcoin community on whether to increase the block size in the hope of alleviating some of the network bottleneck which has plagued Bitcoin due to its increased popularity.
Because no agreement could be reached, the original Bitcoin blockchain was forked, leaving the Bitcoin chain untouched and in effect creating a new blockchain which would allow developers to modify some of Bitcoin’s original programmed features.
Generally speaking, the argument for Bitcoin Cash is that by allowing the block size to increase, more transactions can be processed in the same amount of time. Those opposed to Bitcoin Cash argue that increasing the block size will increase the storage and bandwidth requirement, and in effect will price out normal users. This could lead to increased centralization, the exact thing Bitcoin set out to avoid.
Bitcoin Cash does not have one single development team like Bitcoin. There are now multiple independent teams of developers.
Read “What is Bitcoin Cash” for more information. You can also check out their reddit and official webpage.

#5 – EOS (EOS)

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Billed as a potential “Ethereum Killer”, EOS proposes improvements that can challenge Ethereum as the dominant smart contract platform. One main issue EOS looks to improve is the scalability problems which has plagued the Ethereum network during times of high transaction volume, specifically during popular ICOs.
A perhaps more profound difference EOS has, compared to Ethereum, is the way in which you use the EOS network. With Ethereum, every time you make modifications or interact with the network, you need to pay a fee. With EOS, the creator of the DAPP (decentralized app) can foot the bill, while the user pays nothing. And if you think about it, this makes sense. Would you want to have to pay every time you post something on social media? No, of course not!
In addition to this, EOS has a few other technical advantages over Ethereum such as delegated proof of stake and other protocol changes. Just know that EOS has some serious power under the hood to back up the claim of “Ethereum Killer”.
EOS was created by Dan Larrimer who is no stranger to blockchain or start ups. He has been the driving force behind multiple successful projects in the past such as BitShares, Graphene and Steem.
For more information on EOS such as how and where to buy EOS tokens, EOS’s vision and potential challenges, see “What is EOS”.

#6 – Litecoin (LTC)

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Similar to Bitcoin, Litecoin is a peer-to-peer transaction platform designed to be used as a digital currency. Due to some notable technical improvements, Litecoin is able to handle more transactions at lower costs. Litecoin has been designed to process the small transactions we make daily.
Litecoin is sometimes referred to “digital silver” while Bitcoin is known as “digital gold”. This is because traditionally silver was used for small daily transactions while gold was used as a store of wealth and was not used in everyday life.
The Litecoin blockchain is a fork from the Bitcoin chain. It was initially launched in 2011 when its founder, Charlie Lee, was still working for Google. Well-known as a cryptocurrency expert, Charlie Lee is backed by a strong development team who appear to be achieving what they set out to do. They have recently achieved a very notable accomplishment with the first successful atomic swap.
For an in-depth discussion on what Litecoin does, how it is different than Bitcoin and the team backing up the development, see “What is Litecoin”.

#7 – Cardano (ADA)

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Cardano is a smart contract-focused blockchain. It was originally released under the name Input Output Hong Kong by Charles Hoskinson and Jeremy Wood, a few of the early team members of Ethereum, and later rebranded into Cardano.
Cardano is trying to fix some of the largest problems the cryptocurrency world which have been causing ongoing issues for years such as scalability issues and democratized voting.
They have the potential to challenge Ethereum’s dominance in the smart contract world. Cardano is developing their own programing language similar to Ethereum; however, they are focusing more heavily on being interoperable between other cryptocurrencies.
While some cryptocurrencies are all bite but no bark, Cardano is quite the opposite. They are quietly focusing on a strong software which will be completely open-source.
Cardano’s team comprises some of the best minds in the industry, and they seek to create a strong foundation which others can build upon for years to come.
For up-to-date information on Cardano’s status see their Reddit page or official website. You can also read our article “What is Cardano” to learn more about them.

#8 – Stellar Lumens (XLM)

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In a nutshell, Stellar Lumens seeks to use blockchain to make very fast international payments with small fees. The network can handle thousands of transactions a second with only a 3-5 second confirmation time.
As you may know, Bitcoin can sometimes take 10-15 minutes for a transaction to confirm, can only handle a few transactions a second and, in turn, has very high transaction fees.
If this sounds a lot like Ripple, you’re right! Stellar Lumens was based off of the Ripple protocol) and is attempting to do similar things. Some of Stellar Lumens’ main uses will be for making small daily payments (micropayments), sending money internationally, and mobile payments.
Stellar Lumens is focusing on the developing world and, more specifically, the multi-billion dollar industry of migrant workers who send money back to their family in impoverished countries.
The Stellar Lumens team is led by Jed McCaleb, who has worked in numerous successful startups in the past such as eDonkey, Overnet, Ripple, and the infamous Mt. Gox.
For more information on Stellar Lumens, including the history and what sets Stellar Lumens apart, see “What are Stellar Lumens”. You can also learn about the differences between Stellar Lumens and Ripple.

#9 – TRON (TRX)

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As stated in TRON’s whitepaper, “TRON is an attempt to heal the internet”. The TRON founders believe that the internet has deviated from its original intention of allowing people to freely create content and post as they please; instead, the internet has been taken over by huge corporations like Amazon, Google, Alibaba and others.
TRON is attempting to take the internet back from these companies by constructing a free content entertainment system. This will enable users to freely store, publish and own data, giving them the power to decide where and how to share.
The project is led by founder Justin Sun, who has been listed on the Forbes 30 under 30 list twice (in 2015 and 2017). In addition, Sun is a protégé of Jack Ma, founder of Alibaba Group, China’s former Ripple representative and the founder of Peiwo APP.
Sun has assembled a strong team with heavy hitters including Binshen Tang (founder of Clash of King), Wei Dai (founder of ofo, the biggest shared bicycles provider in China), and Chaoyong Wang (founder of ChinaEquity Group). Sun has also secured the support of a few notable angel investors such as Xue Manzi.
For up-to-date information on Tron and further discussion of the technology and team, see “What is Tron” and their website.

#10 – IOTA (MIOTA)

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IOTA has seen many of the issues Bitcoin and Ethereum have with the POW (proof-of-work) and POI (proof-of-importance) models and looks to improve them with their revolutionary transaction validation network simply called “tangle”.
When issuing a transaction in IOTA, you validate 2 previous transactions. This means you no longer outsource validation to miners which requires wasteful amounts of computing power and usually a large stake of coins. These required resources are, in effect, centralizing the currencies which many believe were created to be decentralized in the first place.
With IOTA, the more active a ledger is, the more validation there is. In other words, the more people who use it, the faster it gets. You don’t have to subsidize miners, so there are no fees on transactions. That’s right: zero.
The IOTA team has been actively developing blockchain technology since 2011, and created the IOTA foundation and company in 2016. Since its emergence, the team has been continuously growing, attracting exceptional talent from around the world.
For more information on IOTA’s team and their revolutionary“tangle” technology, check out “What is IOTA”.

#11 – NEO (NEO)

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A leading platform for smart contracts and sometimes referred to as “China’s Ethereum”. NEO (formally Antshares) hopes to digitize many types of assets which were formerly kept in more traditional means, and therefore make it possible to use them in smart contracts.
To imagine a potential use case of NEO, think digitizing the title to a house into a smart asset, and then setting up that asset to automatically transfer to another person after payment for the house has been received. This would be, in effect, a simple smart contract.
NEO founder Da Hongfei is a leading figure in the cryptocurrency world and has worked on numerous blockchain projects in the past. The development team consists of 6 in-house investors and a large community of third-party developers.
For a complete overview of NEO, including the team, history and competitive analysis, check out “What is NEO”.

#12 – Dash (DASH)

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Dash (which comes from ‘digital cash’) aims to be the most user-friendly and scalable cryptocurrency in the world. It has the ability to send funds instantly confirmed by “double-send-proof” security with the added functionality of erasable transaction history and the ability to send transactions anonymously.
Like Bitcoin, Dash is meant to be used as a digital currency but has some added values such as much faster transaction times and lower fees. For a slightly higher fee, Dash has the added function of “instant send” which allows transactions to be confirmed almost instantly. This is one of the main selling points of Dash because many believe that this feature would allow it to be used in brick and mortar establishments.
The Dash development team consists of over 50 members and is led by former financial services professional Evan Duffield.
For the latest on Dash, see their official website and reddit page. You can also read “What is Dash” to learn more about the project.

#13 – Monero (XMR)

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Monero is a digital currency designed to be used as a completely anonymous payment system.
A common misconception with Bitcoin is that it is completely anonymous. In reality, all payments processed on the Bitcoin network are recorded on a public ledger (blockchain), so Bitcoin is actually only partially anonymous or “pseudonymous”.
This means that you can, in theory, trace back every transaction a coin has been involved with from its creation. Though users aren’t able to inherently link the public key on the blockchain with the private keys used to store the coins themselves, there will always exist a correlation between the two.
Monero has solved this problem by implementing cryptonic hashing of receiving addresses, therefore separating the coin from the address it is going to. This can be hugely valuable for anyone wishing to conceal their purchases.
The Monero development team consists of 7 core developers, only two of which are publicly known. There have been over 200 additional contributors to the project and software updates are implemented every six months or so.
To learn more about Monero including its competitors and challenges, read “What is Monero”. If you’re thinking about investing in Monero, check out our opinion piece “Should You Invest In Monero?“.

#14 – Tether (UDST)

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Tether is a cryptocurrency token issued on the Bitcoin blockchain. Each Tether coin is allegedly backed by one US Dollar. The goal is to facilitate transactions with a rate fixed to the USD.
Amongst other things, Tether looks to fix some of the legal issues which can arise when trading cryptocurrencies and it aims to protect people from market volatility.
Tether has faced controversy regarding their business model, and some consider it a scam. More info can be seen on reddit posts such as this.

#15 – NEM (XEM)

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NEM (New Economy Movement) is the world’s first proof-of-importance (POI) enterprise based on blockchain technology. With a focus on business use cases, the software was built from the ground up with adaptability in mind. NEM’s goal is for companies to use their “smart asset system” to implement customizable blockchains. A smart asset can be almost anything: a cryptocurrency token, a business’s stock or a company’s invoicing and records.
Some potential use cases for NEM’s technology include: voting, crowdfunding, stock ownership, keeping secure records, loyalty rewards point programs, mobile payments and escrow services. A list of NEM’s use cases can be found here.
The development of NEM is monitored by the Singapore-based NEM Foundation.
For more information on what NEM does and what sets NEM apart from its competitors, see “What is NEM”.

#16 – VeChain (VEN)

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As described in VeChain’s development plan, the organization’s purpose is to build “a trustfree and distributed business ecosystem based on the Blockchain technology self-circulated and expanding”.
They plan to do this by creating an efficient trustless business ecosystem to significantly reduce the wasteful information transfer systems of today.
Some of the areas and industries the VeChain platform is focusing on include eliminating counterfeiting in the fashion and luxury industry, food safety tracking systems, digitizing maintenance in the car industry and many other global supply chain processes.
For more information on VeChain, see their reddit and website. Read “What is Vechain” to learn about the project, and our investment opinion piece “5 Reasons to Invest in Vechain“.

#17 – Ethereum Classic (ETC)

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Ethereum Classic came about after a hard fork of Ethereum in 2016. The fork was a result of the infamous DOA hack where around 50 million dollars worth of Ethereum was stolen due to what was considered an oversight in the code.
The blockchain was forked in order to recoup the losses from this attack, but a small portion of the community did not wish to go back and change the original blockchain. Vitalik Buterin, founder of Ethereum, and subsequently the development team chose to go with the hard fork and work on what is now “Ethereum” today.
There is a lot of ongoing controversy with Ethereum Classic which can be better described on this reddit thread. For an in-depth discussion of Ethereum Classic, see”What is Ethereum Classic“.

#18 – Binance Coin (BNB)

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Binance Coin is the coin used to facilitate operations on the Binance platform, a cryptocurrency exchange that is capable of processing 1.4 million orders per second. The name “Binance” is derived from the combination of the terms “binary” and “finance”, referring to the integration of digital technology and finance.
The BNB coin is used to pay exchange fees, withdrawal fees, listing fees, and all other possible transaction expenses on the Binance platform. In order to incentivize new users to do their cryptocurrency trading on Binance, the team is offering discounts when BNB is used to pay fees. The discount will be 50% in the first year, 25% in the second, 12.5% in the third, and 6.25% in the fourth year before the discount ends.
Binance was primarily marketed to Chinese cryptocurrency investors at first, but they also have English, Korean, Japanese, French, Spanish, and Russian versions of the platform.
For a deeper look into Binance, you can read the whitepaper or check out the trading platform here.

#19 – Bytecoin (BCN)

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Bytecoin describes itself as “a private, decentralized cryptocurrency with with open source code that allows everyone to take part in the Bytecoin network development”. It is the first coin to offer untraceable payments, unlinkable transactions and resistance to blockchain analysis.
With Bytecoin, it is possible to send instant transactions anywhere around the world, which are totally untraceable and don’t require additional fees.
Bytecoin’s development is community-driven and a list of all of the different community websites can be found here.
For more information on Bytecoin, see: “What is Bytecoin“.

#20 – QTUM (QTUM)

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QTUM (pronounced Quantum) is an open-source value transfer platform which focuses on mobile decentralized apps or Dapps. QTUM is the world’s first proof-of-stake smart contracts platform.
QTUM is meant to be used as both a value transfer protocol, like Bitcoin, and a smart contract platform, like Ethereum. They have a number of technical innovations which some consider to make it superior to Ethereum, and they are focusing on mobile applications.
The platform itself is very new. It came about in March 2017, after a highly successful crowdfunding campaign raised them nearly 16 million dollars in only 5 days. QTUM has a small but strong development team and an impressive list of investors backing their ideas. QTUM’s development is lead by the Singapore based QTUM Foundation.
For further reading on the background of QTUM and what sets them apart, see “What is QTUM”.

#21 – Zcash (ZEC)

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ZCash is a value transfer protocol forked off of the Bitcoin blockchain. ZCash can be used like Bitcoin, with a few added improvements. With “zero cash technology”, ZCash shields both the amount transferred and the senders, making transactions truly anonymous.
ZCash is one of the new kids on the block in the world of “private transactions”.
An interesting note is that Ethereum is in the process of implementing some of ZCash’s technologies to enable transactions on the Ethereum network to be anonymous as well.
ZCash is being developed by the Zerocoin Electric Coin Company. They’ve had some great successes, most notably JP Morgan’s announcement that they would implement Zcash’s privacy technology to Quarum, a technology JP built on Ethereum.
Interested in investing in ZCash? Here’s the opinion of one of our writers: Should You Invest In ZCash?
ZCash was recently featured on the Radiolab episode The Ceremony.

#22 – OmiseGO (OMG)

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“Unbank the Banked” is the slogan of Omise’s online platform OmiseGo and that’s exactly what Omise has set out to do. Founded in 2013 off of the Ethereum blockchain, Omise aims to revolutionize the financial dynamics in Southeast Asia.
Omise is targeting individuals and businesses of all sizes by improving the current financial system which is slow, outdated, and inaccessible to most “everyday” people in these countries.
With their planned online exchange OmiseGO, Omise seeks to speed up the way money is spent and sent, both domestically and internationally in Southeast Asia and beyond.
They have a lot to celebrate too. OmiseGo has been building partnerships in the region and recently partnered with McDonald’s and Credit Saison.
Omise has established a strong team of over 130 staff members located in different countries. CEO and founder of Omise, Jun Hasegawa, has been involved in multiple startups and worked for Google for over 16 years.
The OmiseGO platform has been endorsed by some of the heavy hitters in the cryptocurrency world such as Vitalik Buterin and Gavin Wood, the co-founders of Ethereum.
For more information on what OmiseGO aims to do, see “What is OmiseGo”.

#23 – ICON (ICX)

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Fresh off a successful ICO, the Korea-based startup ICON is looking to provide a medium to connect all the different blockchains together. This puts ICON in the same field as Ark, which is attempting to accomplish similar goals.
The main concept of ICON is their idea of a “loopchain”. As stated in their whitepaper, a loopchain can be described as a “high-performance blockchain that can provide real-time transaction, which is based on enhanced Smart Contract.” Through ICON, participants will be able to connect to any blockchain without relying on the current centralized exchanges.
ICON has a relatively large team from various backgrounds. They have also secured the help of a few notable advisors such as Jason Best and Don Tapscott.
For more information on ICON and the work they’re doing, see “What is ICON“.

#24 – Lisk (LSK)

📷 Lisk is a decentralized network, like Bitcoin and Litecoin, which enables developers to deploy their own side chains off the main Lisk blockchain. These side chains are fully customizable blockchains which enable you to change the parameters you want to fit your own blockchain application.
This is similar to Ethereum and QTUM in some ways. With Lisk, the main difference is that the customizable blockchains split into their own separate side chains. This saves developers the grueling legwork of designing something from scratch. At the end of the day, side chains are only decentralized databases of blockchain applications.
Lisk is being developed by a small but quickly growing Berlin-based team. They are led by co-founders Max Kordek and Olivier Beddows who are veterans in the cryptocurrency and development world.
For a thorough look into Lisk including more on what Lisk does, its competitors, challenges and teams, see “What is Lisk”. You can also check out our case study of an accountant who invested all his life savings in Lisk: “Accountant Invests All in Lisk”.

#25 – Zilliqa – (ZIL)

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Zilliqa is a blockchain platform which focuses on solving the problem of scaling on public blockchains. With Zilliqa’s network, the number of transactions increases at a linear rate to the number of nodes.
This means that as nodes increase, so will its ability to handle high transaction volume. Zilliqa has already run a successful test on their network, where they were able to achieve 1,200 transactions per second with only 2,400 nodes.
Zilliqa also is the first blockchain to successfully integrate “sharding” into a public blockchain. This concept is extremely useful in improving the rate of scalability, bandwidth and performance in blockchains. Sharding, in effect, splits nodes into “shards” which can then conduct micro-transactions in each blockchain block.
In addition to this, Zilliqa claims to be more energy-efficient to mine. They also plan to implement dapps into their platform in the future.
For more information on Zilliqa, see their website and reddit. Our article “What is Zilliqa” can provide you with an overview of the project.

Source: https://www.investinblockchain.com/top-cryptocurrencies/

submitted by SilverSniper2017 to cryptoinvestingtop [link] [comments]

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