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Archives for January 2018

High Speed Blockchains: 0chain

January 28, 2018 By Reed K Leave a Comment

 

Bitcoin & Ethereum are the buzzwords we always hear about in the media but behind the scenes there are hundreds Blockchain projects in the works. Similar to the early days of the internet, these companies are competing for innovation and dominance. Fueling the force are the ICO’s (Initial Coin Offerings) that fund founders and team members and the frenzy like crowds chasing after the hope that these companies will one day become significant players in the space. Most of these Blockchain projects are still speculative because not much has actually launched on them besides more ICO’s and I am referring to Ethereum, which has seen hundreds of ICO’s launched across it’s platform. Now, we are seeing NEO also launching Dapps (Decentralized Applications) including market data (Red Pulse), AI (Deep Brain Chain), Identity (The Key VIP) Decentralized Exchanges (NEX) etc. We will see the same happening with competing Blockchains like Icon (ICX), and they may very well end up being regionally controlled and its safe to say that Icon is South Korea’s native Blockchain.

0chain is headed by Saswata Basu who is based in Silicon Valley, California, and we all know the incredible technological advances that have been born in that region. Saswata received his PHD from UCLA in Electrical Engineering. He has a background as both a developer and CTO of Guruhubb, a local company focusing on FinTech, IoT, Mobility, Security, Cloud, AI, and of course Blockchain.

“Our Blockchain is designed to execute a Smart Contract within a sub-second using and n-dimensial, deterministic, Byzantine, DPOS Blockchain system, so that one piece of Smart Contract does not have to wait minutes or an hour for the result of the next one. Our speed is the result of an efficient consensus set made up of just 3 primary miners, 6 secondary miners, with a bench pool to shuffle the miners in every n cycle. Such unparalleled efficiency and speed is achieved without compromising network disruption, malicious attacks, data withholding, and data manipulation.”

High Speed & Free

One of the most important aspects of a Blockchain is it’s speed. We have seen this issue arise in Bitcoin with long transaction times, causing the masses to question the uses of it. Ethereum, being much faster is still facing network congestion issues. 0chain is aiming to improve the block time and act in a sub-second depending on the application. Analytics or AI (Artificial Intelligence) application could take up to 2-minutes, so we see the focus on 0chain being speed of transactions. The chain can also be fine tuned when using bank grade chains. They will also have a feature called “self-forking” which will allow new chains to evolve decoupled from the native token value.

Another benefit that 0chain will bring is the free storage capability. Hence the name “0chain” meaning 0 cost. This is done through controlling the inflation rate of Tokens for Miners. The infrastructure is divided into CPU, RAM, and SSD designating different duties to the Miners, Sharders and Blobbers. (Generate Blocks, store Blocks, store data). DApps (Decentralized Apps) will be built on the 0chain platform allowing them to also have free storage which could be an incredibly massive draw if this works. This is done through token value of each DApp and is designed to control inflation over 100 years. I would not say that 0chain is necessarily competing with Ethereum per se, EOS, or Filecoin (similar project) they are offering different use cases and network incentives. 0chain will act as a compliment to DApps. Although it is very early stage, I think the project is incredibly ambitious and could be a game changer for the Blockchain space. We should begin to see some major developments happening Q4 2018. It’s too early to tell whether or not 0chain will reach these goals but there is no doubt that this is a very cool project.

 

 

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Projects on the Blockchain: Trinity

January 7, 2018 By Reed K Leave a Comment

 

Blockchain protocols were explosive in 2017. It was a year of pioneering new ideas and ushering in new technology and investors. We saw massive growth in Market Cap for the overall Cryptocurrency and Blockchain world. I believe its only getting started. China is on the forefront of developing Blockchains and we will continue to see a massive growth regardless of what traditional media reports. Trinity, which is currently set to launch its Initial Coin Offering in January will be similar to “Lightning Network” a project that has been in development for years and aims to implement itself onto Bitcoin Core. On the Ethereum side, Raiden Network is a similar protocol. So let’s break down further details into what Trinity actually does. Trinity, will be set in the NEP-5 Standard, which is the NEO Blockchain standard similar to ERC-20 for Ethereum. The technology that Trinity uses is called State Channels. What this means is that a sort of pathway is opened up, 2 ways for each end user to communicate in the form of transactions. They are off-chain and private, known only to the users of the pathway, the channels are also limited in their timespan. After completion of this channel, the information can be uploaded to the Blockchain. This technology also allows for lower fees when doing transactions and instant transactions.

Use Cases

  • Payment Channel
  • Off-Chain Interactions
  • Publishing
  • Channel Routing
  • High Speed Transactions

Team Behind Trinity

NEO has proven to be a flexible and efficient Blockchain that will allow for incredible Dapps to be built on it. With Trinity implemented, it will increase the efficiency of the Network and be a strong contender for Ethereum. The team behind Trinity is David Yiling Li (Founder) who was formely with AntShares (NEO) and has experience as founder of Fourier PR which expanded the presence for many young Crypto-Economy projects. Co-Founder is Guangfeng Zhang, a Blockchain security expert with 15 years of tech development, and Fengping Yi, a Government Affairs Specialist with a rich experience in project development. Clearly, this is a winning project, and I expect it to be massive going into 2018 and 2019.

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2018: The year of Implementation?

January 1, 2018 By Reed K Leave a Comment

 

As we enter the new year and move onto new investment strategies, Distributed Ledger Technology is taking shape. Much of the speculation that took place in 2017 will begin to crystalize into reality. We also saw large numbers of ICO (Initial Coin Offering) scams taking place. Hundreds of ICO’s were raising fortunes instantly, and disappearing into the Ether. We are now seeing more savvy investors questioning the validity of ICO’s and their use cases. ICO’s have also become stricter in regards to KYC (Know Your Customer) and AML (Anti Money Laundering). We have seen the era of decentralized crowd sales reduced and more of a focus on institutional investors and Pre-Sales selling out before a crowd sale is able to take place. Is this the start of a new trend? Traders and investors have also been asking which projects are going to be implemented in 2018. FUD (Fear Uncertainty & Doubt) was rampant towards the end of 2017, China had passed regulations on Bitcoin, ICO’s and exchanges. The Crypto traders were discussing Decentralized exchanges like Kyber, 0x, Loopring, and Decentralized web projects like Subtratum and Presearch. It’s a mix of the desire for Decentralized freedom and regulations to protect users and investors. Can the Cryptocurrency community make up it’s mind on how it wants to go forward?

Decentralized Exchanges Launching?

0x Protocol, which had finished it’s ICO in 2017, is a much anticipated project. It will be a Decentralized exchange for ERC20 Tokens. For those who are not familiar with ERC20, it is the standard for creating a Token on the Ethereum platform. We are also awaiting Kyber Network and Loopring, both are DEX’s. This will definitely be disruptive for the heavy regulation environment around the world. Will these really work and succeed? One of the most popular Decentralized Exchanges called Ether Delta was hacked in December 2017. According to an article at Bitcoin.com:

“One of the major benefits of decentralized exchanges is that they can’t be hacked – or so the theory went. As Etherdelta’s users found out last week, however, that’s not quite true. After accessing the site’s DNS records and replacing the domain with a sophisticated fake, attackers were able to hoover up hundreds of thousands of dollars in ethereum and tokens. One week on and thefts are still being reported, as the hacker continues to prey on unsuspecting victims.”

Indeed it will be a challenge for 0x, Kyber, Loopring and other DEX’s that have been finishing their ICO’s to have top grade security protecting it’s users. Regardless of the Ether Delta attack, business is back to usual. This goes to show the resilience of the Crypto community.

Filed Under: Uncategorized

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