GitHub - arbitragesoftware/Arbitrage: An arbitrage is ...

Collapse of MakerDAO Keepers: $4.5M lost & how to become a Keeper to earn 13%+ liquidation penalties by providing liquidity to MakerDAO Keeper Pool.

TL;DR - join waitlist for MakerDAO Keeper Pool to earn yield on DAI/ETH/USDC/USDT/Chai/sUSD/cDAI from liquidation penalties and ETH/DAI arbitrage profits earned in collateral auctions by the Keeper Pool (zero fee pool, non-custodial of course:) - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
________
Unfortunately, many of us became victims of MakerDAO collateral auctions market. This market was brought to its knees today, resulting in:
1) Losses affecting some of the MakerDAO Vault holders (borrowers of DAI from the Multi-Collateral DAI system), and
2) Losses affecting 100% of MKR token holders, - minting enough MKR and selling them for DAI to cover the missing DAI in the system. The auctions will begin on Wednesday, March 18, 2020.
For the last 14 hours I've been focusing on determining the root cause of the problem, and determining WHAT CAN I DO? to prevent this collapse from ever happening again.
Collapse of the MakerDAO Auctions.
Losses above is a result of a short-term monopoly in the auction market of collateral liquidation of MakerDAO vaults becoming under-collateralized with price of collateral (ETH, BAT) on the decline. This monopoly existed for ~3.5 hours this morning, allowing a single Keeper to buy close to $4.5M worth of ETH in exchange for ~0 DAI + gas fees.
The collapse negatively affected two classes of market participants:
1) Victim class #1: MCD Vault holders who were being liquidated between ~10am EST until ~1pm EST
Please meet Paul, one of the people who lost money. Read his story:
https://www.reddit.com/MakerDAO/comments/fhn1qn/complete_vault_liquidation_no_eth_left/
If you still didn't get it, please meet BitBurst who lost his life savings today:
https://www.reddit.com/MakerDAO/comments/fhs7kp/just_got_100_liquidated_with_my_1713_eth_cdp_fck/
Want more? One of us with a Reddit handle 'phyzled' is calling for help:
https://www.reddit.com/MakerDAO/comments/fhrjxp/help_complete_liquidation/
Even 'Bitcoin_Bender' is threatened. Not just him but his life and his family are going downhill:
https://www.reddit.com/MakerDAO/comments/fhupn8/total_liquidation_mkr_holders_should_take/
2) Victim class #2: MKR holders who will be diluted on Wednesday, March 18th as a result of Flop auction - minting new MKR tokens and selling them at an auction until the auction proceeds cover the missing DAI ($4.5M DAI at the time of this writing).
WHAT HAPPENED?
Prior to ~10am EST, there were a lot of Keepers bidding against each other for collateral at 13% liquidation penalty. Keepers are software bots which monitor Vaults and participate in auctions for collateral of borrowers who became under-collateralized. Operators of such bots are incentivized with mandatory 13% liquidation penalty imposed on Vault collateral upon liquidation.
https://docs.makerdao.com/auctions/the-auctions-of-the-maker-protocol
https://docs.makerdao.com/smart-contract-modules/collateral-module/flipper-detailed-documentation
However, after 10am EST, a single liquidation auction bot was able to bid at 0 DAI (or slightly above) PER EACH COLLATERAL ETH BEING AUCTIONED, AND WIN THE AUCTION. As a result, this Keeper was effectively steal $4M worth of ETH collateral because the auction was designed to raise at least 4M DAI in exchange for the ETH that was auctioned during liquidations, however all except one Keepers stopping their operations, there was only one bidder. Any price above 0 would be accepted. As a result, but the Vault holders who supposed to receive some ETH back, never got any ETH back > making the effective liquidation penalty to over 50% instead of 13%.
Why did the Keeper's market collapse? Why most Keepers stop operating?
Unfortunately, most Keepers stopped operating this morning due to the following reasons:
Root cause #1: Catastrophic liquidity crunch. Keepers simply ran out of DAI to bid in the collateral auctions due to
1.a I believe some Keepers were unable to continue Keeper operations due to inability to liquidate ETH fast enough for DAI.
1.b Some Keepers shut down due to squeeze (bought ETH for 170 DAI, and hours later can only sell for 130 DAI at a loss - which is way more than 13% liquidation penalty).
Root cause #2: Network congestion. This brought many Keepers to its knees. Even with liquidity, many were unable participating in auctions due to stuck transactions & high gas costs. In addition, issues like longer client sync times + some Ethereum clients (like Parity) sufferring from known problems of keeping transactions stuck in Mempool for a very, very long time, amplified this problem.
PROPOSED SOLUTION - MakerDAO Keeper Pool.
Why don't we pool our liquidity (non-custodial pool, Uniswap-style) and give Keepers some competition!?
To prevent more people from losing their funds, I decided to fund development of a MakerDAO Keeper Pool, which will allow anybody to become a Keeper and participate in liquidations of collateral (to earn 13% liquidation penalty).
Background: During today’s Community Call (5 hours and still ongoing at the time of this writing), multiple members of the Maker community stressed importance of increasing # of Keepers servicing the MCD system in order to prevent yet another collapse of the Keepers market as it happened today.
To improve maturity of the Keepers market, increase the collective liquidity used by Keeper’s, engineers at Protofire.io (developers of MakerDAO governance dashboard https://mkrgov.science, Solhint - Solidity Linter https://github.com/protofire/solhint, maintainers of Gnosis Conditional Exchange https://github.com/protofire/gnosis-conditional-exchange) and risk team + engineering team at Atomica.org (developers of Atomica.org/unwind/) launched emergency efforts to ship one or more of the following ASAP:
  1. Web-based MakerDAO Keeper. Perform liquidations of 3rd party collateral from your browser as a Keeper. Earn 13% liquidation penalty.
  2. Open Source Keeper Templates. Run your own Keeper Bot on AWS - 1-click Installer for a MakerDAO Keeper Bot (open source Amazon Machine Image).
  3. Non-custodial MakerDAO Keeper Pool. Earn yield on DAI/ETH/USDC/USDT/cDAI/Chai from a pool running multiple Keeper bots servicing MakerDAO ecosystem. Join/Exit/Add/Withdraw DAI/ETH/USDC/USDT/cDAI/Chai, and earn 100% of liquidation penalties earned by the Keeper (zero fee pool).
Ultimately, we aim to:
- Upgrade the MakerDAO Keeper Pool to be a Keeper of Last Resort. Think of a Keeper backed by on-chain, guaranteed liquidity AND configured to participate in auctions with bids of at least 0.85 of the current ETH-DAI market price, as reported by oracles. So long as the Keeper Pool is operating, no Keeper will be able to take advantage of the system and cause yet another collapse of the MakerDAO Collateral Auction markets.
- Ship 3rd party JavaScript / npm library + Android/iOS SDKs to embed Web-based Keeper or MakerDAO Keeper Pool join/exit/add/withdraw liquidity into your own dApp, protocol, product or service.
If anyone is interested in developing/observing/joining MakerDAO Keeper Pool (for example by running their own Keeper using hardened AWS AMI template, or by providing liquidity (DAI/ETH/USDC/USDT/cDAI/Chai) to a Keeper Pool) - feel free to join our working group working to ship a MakerDAO Keeper Pool ASAP - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
Its not about what DeFi can do for you. It is about what YOU can do for DeFi.
submitted by renatco to ethereum [link] [comments]

Collapse of MakerDAO Auctions: $4.5M lost & how to become a Keeper to earn 13%+ liquidation penalties by providing liquidity to MakerDAO Keeper Pool.

TL;DR - join waitlist for MakerDAO Keeper Pool to earn yield on DAI/ETH/USDC/USDT/Chai/sUSD/cDAI from liquidation penalties and ETH/DAI arbitrage profits earned in collateral auctions by the Keeper Pool (zero fee pool, non-custodial of course:) - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
________
Unfortunately, many of us became victims of MakerDAO collateral auctions market. This market was brought to its knees today, resulting in:
1) Losses affecting some of the MakerDAO Vault holders (borrowers of DAI from the Multi-Collateral DAI system), and
2) Losses affecting 100% of MKR token holders, - minting enough MKR and selling them for DAI to cover the missing DAI in the system. The auctions will begin on Wednesday, March 18, 2020.
For the last 14 hours I've been focusing on determining the root cause of the problem, and determining WHAT CAN I DO? to prevent this collapse from ever happening again.
Collapse of the MakerDAO Auctions.
Losses above is a result of a short-term monopoly in the auction market of collateral liquidation of MakerDAO vaults becoming under-collateralized with price of collateral (ETH, BAT) on the decline. This monopoly existed for ~3.5 hours this morning, allowing a single Keeper to buy close to $4.5M worth of ETH in exchange for ~0 DAI + gas fees.
The collapse negatively affected two classes of market participants:
1) Victim class #1: MCD Vault holders who were being liquidated between ~10am EST until ~1pm EST
Please meet Paul, one of the people who lost money. Read his story:
https://www.reddit.com/MakerDAO/comments/fhn1qn/complete_vault_liquidation_no_eth_left/
If you still didn't get it, please meet BitBurst who lost his life savings today:
https://www.reddit.com/MakerDAO/comments/fhs7kp/just_got_100_liquidated_with_my_1713_eth_cdp_fck/
Want more? One of us with a Reddit handle 'phyzled' is calling for help:
https://www.reddit.com/MakerDAO/comments/fhrjxp/help_complete_liquidation/
Even 'Bitcoin_Bender' is threatened. Not just him but his life and his family are going downhill:
https://www.reddit.com/MakerDAO/comments/fhupn8/total_liquidation_mkr_holders_should_take/
2) Victim class #2: MKR holders who will be diluted on Wednesday, March 18th as a result of Flop auction - minting new MKR tokens and selling them at an auction until the auction proceeds cover the missing DAI ($4.5M DAI at the time of this writing).
WHAT HAPPENED?
Prior to ~10am EST, there were a lot of Keepers bidding against each other for collateral at 13% liquidation penalty. Keepers are software bots which monitor Vaults and participate in auctions for collateral of borrowers who became under-collateralized. Operators of such bots are incentivized with mandatory 13% liquidation penalty imposed on Vault collateral upon liquidation.
https://docs.makerdao.com/auctions/the-auctions-of-the-maker-protocol
https://docs.makerdao.com/smart-contract-modules/collateral-module/flipper-detailed-documentation
However, after 10am EST, a single liquidation auction bot was able to bid at 0 DAI (or slightly above) PER EACH COLLATERAL ETH BEING AUCTIONED, AND WIN THE AUCTION. As a result, this Keeper was effectively steal $4M worth of ETH collateral because the auction was designed to raise at least 4M DAI in exchange for the ETH that was auctioned during liquidations, however all except one Keepers stopping their operations, there was only one bidder. Any price above 0 would be accepted. As a result, but the Vault holders who supposed to receive some ETH back, never got any ETH back > making the effective liquidation penalty to over 50% instead of 13%.
Why did the Keeper's market collapse? Why most Keepers stop operating?
Unfortunately, most Keepers stopped operating this morning due to the following reasons:
Root cause #1: Catastrophic liquidity crunch. Keepers simply ran out of DAI to bid in the collateral auctions due to
1.a I believe some Keepers were unable to continue Keeper operations due to inability to liquidate ETH fast enough for DAI.
1.b Some Keepers shut down due to squeeze (bought ETH for 170 DAI, and hours later can only sell for 130 DAI at a loss - which is way more than 13% liquidation penalty).
Root cause #2: Network congestion. This brought many Keepers to its knees. Even with liquidity, many were unable participating in auctions due to stuck transactions & high gas costs. In addition, issues like longer client sync times + some Ethereum clients (like Parity) sufferring from known problems of keeping transactions stuck in Mempool for a very, very long time, amplified this problem.
PROPOSED SOLUTION - MakerDAO Keeper Pool.
Why don't we pool our liquidity (non-custodial pool, Uniswap-style) and give Keepers some competition!?
To prevent more people from losing their funds, I decided to fund development of a MakerDAO Keeper Pool, which will allow anybody to become a Keeper and participate in liquidations of collateral (to earn 13% liquidation penalty).
Background: During today’s Community Call (5 hours and still ongoing at the time of this writing), multiple members of the Maker community stressed importance of increasing # of Keepers servicing the MCD system in order to prevent yet another collapse of the Keepers market as it happened today.
To improve maturity of the Keepers market, increase the collective liquidity used by Keeper’s, engineers at Protofire.io (developers of MakerDAO governance dashboard https://mkrgov.science, Solhint - Solidity Linter https://github.com/protofire/solhint, maintainers of Gnosis Conditional Exchange https://github.com/protofire/gnosis-conditional-exchange) and risk team + engineering team at Atomica.org (developers of Atomica.org/unwind/) launched emergency efforts to ship one or more of the following ASAP:
  1. Web-based MakerDAO Keeper. Perform liquidations of 3rd party collateral from your browser as a Keeper. Earn 13% liquidation penalty.
  2. Open Source Keeper Templates. Run your own Keeper Bot on AWS - 1-click Installer for a MakerDAO Keeper Bot (open source Amazon Machine Image).
  3. Non-custodial MakerDAO Keeper Pool. Earn yield on DAI/ETH/USDC/USDT/cDAI/Chai from a pool running multiple Keeper bots servicing MakerDAO ecosystem. Join/Exit/Add/Withdraw DAI/ETH/USDC/USDT/cDAI/Chai, and earn 100% of liquidation penalties earned by the Keeper (zero fee pool).
Ultimately, we aim to:
- Upgrade the MakerDAO Keeper Pool to be a Keeper of Last Resort. Think of a Keeper backed by on-chain, guaranteed liquidity AND configured to participate in auctions with bids of at least 0.85 of the current ETH-DAI market price, as reported by oracles. So long as the Keeper Pool is operating, no Keeper will be able to take advantage of the system and cause yet another collapse of the MakerDAO Collateral Auction markets.
- Ship 3rd party JavaScript / npm library + Android/iOS SDKs to embed Web-based Keeper or MakerDAO Keeper Pool join/exit/add/withdraw liquidity into your own dApp, protocol, product or service.
If anyone is interested in developing/observing/joining MakerDAO Keeper Pool (for example by running their own Keeper using hardened AWS AMI template, or by providing liquidity (DAI/ETH/USDC/USDT/cDAI/Chai) to a Keeper Pool) - feel free to join our working group working to ship a MakerDAO Keeper Pool ASAP - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
Its not about what DeFi can do for you. It is about what YOU can do for DeFi.
submitted by renatco to defi [link] [comments]

Hoo Labs Launches Oikos(OKS) Token Sale

Hoo Labs Launches Oikos(OKS) Token Sale
Dear Hoo users,
Hoo Labs is launching Oikos(OKS) token sale on June 12 to June 14. In order to thank our users for their support, Hoo decided to have benefits for our users. Participants who successfully joined in the first round up to 1200 USDT or the second round up to 800 USDT, are eligible to participate in the Thanksgiving benefit third rounds of enjoying lower prices on Hoo.

Rules:
First Round: June 12
Amount: 270,000 USDT (10 million OKS)
Mode: First come, first served ( Support 1000 USDT to qualify for the third round)
Reference price: 1 OKS = 0.027 USDT
Time: 10:00 on June 12, 2020 to 24:00 on June 12, 2020 (UTC+8)
Accepted coin: USDT (wallet account)
Minimum invest: 100 USDT
Maximum invest: 10,000 USDT
Requirements: complete KYC, VIP 1 or above
Second Round: June 13
Amount:150,000 USDT (5 million OKS)
Mode: First come, first served ( Support 800 USDT to qualify for the third round)
Reference price: 1 OKS = 0.03 USDT
Time: 10:00 on June 13, 2020 to 24:00 on June 13, 2020 (UTC+8)
Accepted coin: USDT (wallet account)
Minimum invest: 100 USDT
Maximum invest: 10,000 USDT
Requirements: complete KYC, VIP 1 or above
Third Round: June 14
Amount: 125,000 USDT (5 million OKS)
Mode: Super Invest
Reference price: 1 OKS = 0.025 USDT
Time: 10:00 on June 14, 2020 to 24:00 on June 14, 2020 (UTC+8)
Accepted coin: USDT (wallet account)
Minimum invest: 100 USDT
Maximum invest: 5,000 USDT
Requirements: complete KYC and VIP 1 or above, and successful participation in the first round up to 1200 USDT or the second round up to 800 USDT.
Distribution & Trading: OKS tokens will be distributed by June 17, and trading will be enabled after a month once the token sale completed. Please stay tuned to Hoo official announcement for any updates.
Introduction to Oikos:
Decentralised Synthetic Assets, Oikos is a Tron based synthetic asset platform that provides on-chain exposure to fiat currencies, commodities, stocks, and indices. Synthetic assets (Synths) are backed by Oikos Network Tokens (OKS) locked into a smart contract as collateral. Synths track the prices of various assets, allowing crypto-native and unbanked users to trade P2C (peer-to-contract) on Oikos Exchange without liquidity limitations.
Trustless Token Exchange, Oikos Swap is a Tron port of Uniswap: a trustless decentralized exchange that allows users to trade any Tron-based token without any deposits or withdrawals to a centralized order book. Better yet, Oikos Swap liquidity pools have little to no slippage for the vast majority of transactions. Anyone can contribute by adding or removing liquidity to gain commissions in the form of exchange fees as well as rewards paid in OKS token.
The Team
Manuel Corona
Co-Founder & Marketing Expert
Manuel had an early fascination with technology that led him to work with many talented people and co-found several technology projects. He is a skilled marketer, IT expert and his interests span from programming to distributed system design and of course, cryptocurrencies. His early vision for Oikos was determinant and he led the project from the idea phase to deployment.
Albert Rodriguez
Co-Founder & Mad Scientist
Albert is an early Bitcoin, Ethereum and Tron adopter. His fascination for DeFi lead him to come up with the idea for Oikos and everything started from there. He is also a very talented developer with experience in several programming languages. His daily routine consists in drinking a lot of coffee, writing code and thinking of new possible directions for Oikos.
Kevin Holder
Software Engineer
Kevin is a talented software engineer that has been through the whole technology stack during the course of his career, from cryptography to front end web development. Before Oikos, he spent his time developing smart contracts, studying decentralized applications and contributing to open source. His programming languages of choice are, in no particular order, Solidity, JavaScript and Rust.
Technical Information
Arbitrage: OKS STAKER creates the debt by exploiting Synths, so if the Synths exchange rate system falls, they can now profit by buying back sUSD below par and burning sUSD to reduce debt. Because the Oikos system always puts a dollar value on $1.00.
sTRX Liquidity Pool: Liquidity providers are providing depth to the sTRX/TRX Oikos Swap liquidity pool. The deeper this pool, the less slippage traders pay when entering or exiting the system. Liquidity providers do not need to stake or hold OKS, only TRX and sTRX. To receive rewards they must stake their Oikos Swap LP tokens into a purpose-built smart contract.
OKS Auctions: Oikos is currently experimenting with a new mechanism in conjunction with dFusion (from Gnosis) where discounted OKS will be sold in TRX auctions and then used to purchase Synths under pegged.
Token Information
Name: Oikos Network Token (OKS)
Total supply: 100,000,000 OKS
Public Sale:0.025USD (20–31 May 2020)

https://preview.redd.it/wv5o6u8rq9451.png?width=601&format=png&auto=webp&s=bbc3cd6a39fcd09ed6a1f5b63b37c8d73be6bc3a

OKS Staking Rewards
Exchange fees are generated whenever a user exchanges one synthetic asset (Synth) for another through Oikos.Exchange. Fees are typically between 10–100 bps (0.1%-1%), though usually 30 bps, and when generated are sent to the fee pool, where it is available to be claimed proportionally by OKS stakers each week.The OKS reward is generated through the inflationary monetary policy implemented in March 2018. From March 2019 to August 2023, the total supply of OKS will increase from 100,000,000 to 260,263,816 with a weekly decay rate of 1.25% (from December 2019). Mortgagors can trade fees to receive incentives. The incentive that OKS receives through inflationary supply will gradually diminish until September 2023, when OKS will become a 2.5% Year-end inflation rate.
Mining, Burning, Mortgage Ratio
The above mechanism ensures that OKS mortgagees have an incentive to keep their collateral ratios (C-Ratio) at optimal ratios (currently at 800%). This ensures that Synths has sufficient collateral support to soak up large price shocks. If the value of OKS or Synths fluctuates, each staker’s C ratio will fluctuate. If the ratio is below 800% (despite the small allowance for minor fluctuations) then they will not be able to charges before the ratio recover. They can adjust their percentage if Synths are above 800% and burn Synths if their percentage are below 800%.
Roadmap
Q2 2020
Alpha launch, token distribution event, official Tron main-net launch.
Q3 2020
Official audit, listing on exchanges, launch of additional Synths.
Q4 2020
Launch of mobile-ready user interface, port TheGraph to Tron network.
Q1 2021
Integrate ChainLink technology, research on decentralized governance models, alternative liquidation mechanism.
Q2 2021
Support for more complex trading instruments. Transition to a fully decentralized governance model, use of TRX as collateral for Synth issuance.
Social Media:
Website: https://oikos.cash/
Whitepaper: https://docs.oikos.cash/litepaper-zh.pdf
Telegram: https://t.me/oikoscash
Twitter: https://twitter.com/oikos_cash
Github: https://github.com/orgs/oikos-cash/
Risk Alert: Any digital assets investment is risky. Please evaluate your risk tolerance before getting involved. Your support on Hoo is highly appreciated.
Hoo Team
June 10, 2020
submitted by Hooexchange to u/Hooexchange [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth - yalls.org)

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

Why Litecoin when there's Bitcoin?

I have a feeling that there will be a lot of people new to Litecoin dropping into this sub in the next 24 hours, as people see the LTC/BTC ratio rising. This is the first question on newbies minds, and there was a great response from u/shyliar in a thread a few weeks ago that I want to quote here:
I've used both LTC and BTC since 2012. I started with BTC and then discovered LTC. Even in 2012 there were discussions of the limited transactional capacity of BTC, five years later it's still being discussed. In 2012 having already made a purchase with BTC I was dissatisfied with the slow confirmation times and the necessity of additional coins seemed obvious. I suggest you make a small investment in both coins and try moving them around from wallet to wallet. You'll see the lite/light quickly.
Here's a list of reasons I like Litecoin:
With all the memes and price action posts, I think this is worth posting here again.
submitted by IM_THAT_POTATO to litecoin [link] [comments]

Welcome Senior Google Engineer Jing Cheng to our Advisory Board!

https://preview.redd.it/0y0iysqx7nv21.png?width=924&format=png&auto=webp&s=31133b9346e398c0ab705c5e8632b582a5a82849
Dear Ferrum Network Community,
We are thrilled to announce the newest addition of our team — Jing Cheng — Senior Technical Advisor!
Background and Experience: A Perfect Fit
Not only is Jing passionate about the world of blockchain, he has an impressive professional background having worked as a Senior Software Engineer (full stack) at Google for the past 4 years.
But his experience with cryptocurrencies, and exchanges in particular, is equally as impressive. Jing built and ran a global hedging/arbitrage company deploying various high frequency trading systems/strategies across 20 cryptocurrency exchanges. Moreover, he designed and developed real time reporting and analytics system tracking results of transactions and trades, and developed business relations and setup operations on four continents. Truly impressive stuff.
Jing will bring his considerable technical knowledge and experience to Ferrum Network’s interoperability protocol and our product line, including the Kudi Exchange and UniFyre Wallet.
As we scale up Kudi Exchange and launch the UniFyre Wallet, we are confident that Jing’s expert advice and insight will add tremendous value to the product and the company. We are honored and privileged to have him on the team.
What’s Next
In terms of team members, you’ll be seeing some additional team members come onboard from outside the world of crypto.
We will also be releasing more information on our much anticipated redesigned token metrics.
All this activity is leading up to the opening of our private sale! So stay tuned for more.
And please check out our updated Bounty Campaign to learn how to get rewarded just for adding value to Ferrum Network ecosystem!
Until next time,
The Ferrum Network Team
Links:
Telegram: http://telegram.ferrum.network
Twitter: http://twitter.ferrum.network
LinkedIn: http://linkedin.ferrum.network
YouTube: http://youtube.ferrum.network
Reddit: http://reddit.ferrum.network
Bitcoin Talk: http://bitcointalk.ferrum.network
Facebook: http://facebook.ferrum.network
Github: https://github.com/ferrumnet/
Instagram: http://instagram.ferrum.network
submitted by tentbobert to FerrumNetwork [link] [comments]

Welcome to r/GridPlus! (Introduction, Overview, Links, and Exchange Info)

Intro
GridPlus creates hardware infrastructure that enables mainstream use of digital assets and cryptocurrencies. The GridPlus Lattice1 is a tamper resistant always-on hardware wallet that is the world's first fully integrated system for securely storing and spending digital assets.
GridPlus products form a complete cryptocurrency infrastructure stack designed to support decentralized networks and allow new means of using crypto such as integration with your home energy system and other IoT devices, facilitating subscriptions and permissioned payments, scaling via off-chain hardware verified transactions using Phonon, and acting as programmable hardware security module for PoS chain validators or nodes.
GridPlus Energy
Their first major subsidiary of GridPlus is GridPlus Energy, a licensed Texas utility provider that leverages this technology to create dramatic savings on your home energy bill with a simple user experience powered by a mobile app. Texas residents in the Oncor and CenterPoint regions can sign up and start saving today at https://gridplus.io/energy.
The Lattice1 connects to GridPlus Energy customers' electricity meters and automatically searches for the best wholesale rate then directly charges the customer the best rate plus a small fixed markup which creates huge savings versus traditional fixed rate plans.
GridPlus Energy creates additional savings through using short time interval automatic crypto payments to circumvent expensive legacy payment systems. This also saves money through diminishing the cost of bad debt expenses and collections (a major expense for traditional electricity retailers) and this is passed on to customers. Customers can pay using ETH, DAI, BTC or via traditional credit card or ACH direct bank transfers.
The Lattice1: Hardware Wallet and Crypto Infrastructure Platform
The Lattice1 also provides a hardware platform for decentralized networks and applications. Eventually users will be able to connect to Lattice1 as a wifi hotspot and automatically use it to take advantage of IPFS, ENS, and TOR via any browser without using a browser extension or other software. The platform is intended to also host state channel nodes, PoS validators, and other decentralized applications that can benefit from its unmatched security.
As a hardware wallet, the Lattice1 and GridPlus SafeCards use uncompromising security to enable the safest and most flexible cryptocurrency hardware storage ever created. The system boasts features not found in current gen alternatives such as simplified account recovery via easy out of the box hardware n-of-m multisig and secure permissioned payments and subscriptions.
The hardware also facilitates many other use cases; take a look at this blog post for a look at what's on the roadmap and additional possibilities.

The Company
GridPlus was founded in 2017 by Mark DAgostino, Alex Miller, and Dr. Karl Kreder and is headquartered in Austin, Texas.
The GridPlus Energy subsidiary is the result of energy and technology research beginning in 2015 at ConsenSys including work done in conjunction with L03 on the Brooklyn Microgrid. GridPlus Energy is located in Houston, Texas.
GridPlus is the first major company to be incubated internally by ConsenSys as a main spoke and then spun out into its own venture. They are advised by Joseph Lubin, Ethereum cofounder and founder of ConsenSys.
Their products are proudly designed and engineered in Austin and assembled in the United States.

Timeline
Hardware
GridPlus is now accepting pre-orders for the Lattice1 hardware and SafeCards in the Americas, Europe, and Singapore which will begin shipping in Q3 2020.
After the Lattice1 is shipped with firmware v1, additional integrations and features will begin to roll out: accessing DeFi dapps right from the touchscreen with no need for a computer, hardware multisig, support for eth2 BLS signatures as well as other chains, etc..

EnergyGridPlus Energy is now live and serving customers in Texas - you can sign up at https://gridplus.io/energy right now.
In the first stage of the roll out, customers can opt for monthly fixed rates and pay via ETH, DAI, or traditional methods as well as redeem GRID for an additional discount.
Later in 2020, the team will begin integration with smart home devices like Nest thermostats and smart plugs for pool pumps in order to optimize home energy consumption via dispatachable loads. Additionally, the transition to Ethereum L2-based short time interval payments will begin.

The Hardware
The Lattice1 is the cornerstone of the world’s first fully integrated system for securely storing and spending digital assets. At its core, the Lattice1 is a tamper resistant hardware wallet that links to your phone, your electricity meter, and other IoT devices using connectivity via Wifi, Bluetooth, and Zigbee antennas. The LDS mesh and other tamper resistance features essentially cause the unit to self destruct upon attempts to hack or reverse engineer the hardware.
The Lattice1 can be expanded to a limitless number of accounts using cheap physically uncloneable Safe Cards which each have their own secure enclave chip and can be used for portable offline storage or hardware multisig. The Safe Cards’ physically uncloneable functions (PUFs) convert each chip’s unique electrical fingerprint into digital entropy that cannot be stolen or observed. The Lattice1 converts this entropy into a private key which cannot be hacked. Use this private key or restore another from a seed phrase to use as your digital wallet.
Lattice1 Features:
· 5” TFT Display with Multipoint Capacitive Touch Panel
· Card Slot for Safe Cards to Provide a Limitless Amount of Accounts and Options
· Lightbar Security Pattern for Notifications
· Capacitive Home Button
· Zigbee, Wifi, and BLE Antennas
· Ethernet Jack
· Internal Secure Enclave (and External via Safe Cards)
· Secure Computing Environment
· LDS Tamper Detection Mesh
· Integrated PCD Security Mesh
· Compressed Elastomer Intrusion Detection
· Logic Power Isolation
· Lithium Ion Backup Battery

Use Cases
Energy: The Lattice1 interfaces with your home's smart meter (which are already deployed across Texas) via Zigbee antenna. It looks up the best wholesale energy rates, automatically picks the best one, then directly charges you that plus a fixed markup creating huge savings for consumers. If you have a home battery or solar panels it manages these and sells to the grid at the optimal times or even earns money via automated energy arbitrage. All under the hood without having to do anything. This has the added benefit of smoothing out demand on the grid and making it more efficient. The Zigbee antenna also lets it control other home IoT devices like your Nest thermostat; automatic management of thermostats and other dispatchable loads makes your home more energy efficient and saves more money.
Mobile Payments: The Grid+Pay mobile app will feel familiar to users of the many popular crypto wallets that exist today, but delegates its security to the Lattice1. Stop tying the fate of your crypto assets to your phone and a seed phrase — easily pair the app with your Lattice1 device and start spending your crypto assets more securely. Using the Lattice1 you can authorize the mobile wallet to spend a specified amount of crypto per time period from cold storage without having to be physically in front of the Lattice1 to approve each transaction.
Retail Point of Sale: Grid+Commerce lets you easily accept digital currencies with no fees and no chargebacks. Integrate the Grid+Pay components into your site with just a few lines of code and accept physical payments using a Lattice1 device as a payment terminal. Grid+Pay provides merchants with an experience nearly identical to a traditional payment provider, but allows for direct peer-to-peer payments with their customers. Additionally, Grid+ is applying for PCI certification to allow the Lattice1 to accept traditional credit and debit card payments. Cutting out middlemen, businesses and consumers both save.
Generalized Crypto Hardware Platform: The Lattice1 SDK has been feature-locked and is functionally ready for production pending the release of the hardware itself. Multiple teams are working behind the scenes to integrate the hardware into their own platforms. You can read the documentation here and check out the source code here. It is important to note that GridPlus will be evaluating additional signature schemas for future releases. Examples may include ERC721 transfers, Lightning transactions, or Maker CDP interactions. If you are a developer utilizing a signature schema outside of ether, ERC20, and bitcoin transfers (and if you want to integrate with the Lattice1), please reach out to the team and they may add the schema to a future firmware update.

The Token
GRID can be redeemed for 500 kWh of electricity with zero markup by GridPlus Energy or at other retail energy providers who implement the technology stack. Retail customers can buy these on the secondary market to redeem them for even more savings on their electricity bills, but GRID is not required to use the service.
Additionally, customers can pay their full bill in GRID for even deeper discounts. The redemption rate is set monthly by taking the UniSwap spot price, multiplying this by 5, then setting a per GRID rates in kWh based on the prior period's average energy rate. Sounds complicated, but what it means is that no matter where the price of GRID and energy goes, customers will be able to pay their bill with GRID for a discount of as much as 80% off of wholesale rates!
GRID can now also be redeemed for a discount of up to $200 off the purchase of a Lattice1.
A fixed number of GRID have been created and when redeemed by a customer, they are taken out of circulation forever.

Additional Resources
Coverage & Interviews
Where Can I Buy GRID?
Direct:
DEX Aggregators:
submitted by MidnightOnMars to GridPlus [link] [comments]

Product information for investors

The team is often available on Discord for discussion and assistance.
If you have lost your 2FA for the website, please send an email to [email protected] from your registered email address, with proof of identity documentation. There is a file size limit of 1MB, so attach a file under that size.
The Crypto20 Fund
Links
Information
FAQ can be found here
The Hyperion Fund
Links
Information
FAQ can be found here.
Investment Information
Please see a list of Hyperion's investments here.
Meridian Fund Series [Minimum investment 100,000 USD]
The Meridian Fund Series is composed of three index funds which track the top 10 crypto-currency assets by market capitalization. Each fund option has a variable contingency for cash allocation. Please see the links below for more information:
C10 Hedged
C10 is a fund offered by Invictus, composed of the top 10 crypto-currency assets by market capitalization. Through a hedging mechanism, this fund offers greater drawdown protection for investors who may be more risk adverse. The fund is open-ended, and available to purchase through the Invictus Capital portal. Additionally, the use of margin-lending is designed to reduce fees.
FAQ can be found here.
Invictus Margin Lending Fund
The Invictus Margin Lending Fund offers investors the ability to take advantage of the volatile nature of the cryptocurrency market without risking direct exposure. The fund aims to maximize interest income on USD and USD equivalents with zero anticipated drawdown risk. Returns have a low or negative correlation to the S&P500, VIX, GLD and TNX — making for an excellent portfolio diversification tool. The fund targets compounded interest returns of 10 to 25% p/a net of fees on USD (and USD backed cryptocurrencies such as TUSD). This target should not be used as a prediction of performance. Investors will have access to daily performance reporting via the website and an API.
Emerging Markets Solar Fund
The Emerging Markets Solar Fund aims to earn healthy returns whilst contributing to global clean energy production. The Fund provides investors with an opportunity to raise living standards in emerging markets, provide access to modern energy services, reduce global reliance on fossil fuels and offset their carbon emissions. The Emerging Markets Solar (“EMS”) Fund has teamed up with a launch partner, the Sun Exchange, to initiate the Fund. The Sun Exchange is a US-domiciled company operating out of Cape Town, South Africa and is the world’s first global, peer-to-peer, solar-cell micro-leasing online marketplace. They have a strong presence in the African market and have an impressive track record to date. Check out the fund via the Litepaper linked below!
Invictus Gold Plus Fund
Gold has been favored and fought over by humans for thousands of years. With scarce supply and unwavering demand, the unmistakable precious metal has remained central to man’s concept of money and the preservation of wealth. Despite gold's initial sell-off in the wake of coronavirus fears, if history is to be a guide then the precious metal is poised for significant growth given the immense increase in money supply by global reserve banks (at this stage $2 trillion in the US alone) in an effort to buoy consumer demand. Invictus Capital presents our latest fund - the Invictus Gold Plus Fund - an open-ended fund that tracks the underlying gold price and earns an additional yield on your investment. The fund’s objective is to outperform gold as a long-term benchmark. The Fund will be held predominantly in gold-backed tokens, namely Tether Gold (XAUT) and PAX Gold (PAXG), with a small portion invested in our Margin Lending Fund (IML) for 24/7 liquidity purposes. The targeted outperformance will be accomplished by taking advantage of arbitrage opportunities and utilizing our proprietary software to margin lend the underlying tokens on platforms such as Bitfinex, expanding on the success and experience gained from operation of our IML fund. For reference, margin lending rates on Tether Gold haved spiked into the double digits in terms of annualized returns (25% APR as of 26/3/2020) due to the recent surge in trading activity.
Invictus Bitcoin Alpha Fund
Invictus Capital is proud to present our Bitcoin Alpha Fund (IBA), an open-ended fund that is always long on Bitcoin (BTC), and aims to outperform it by utilizing options and lending strategies to offer both downside protection and yield. The Fund will have long BTC exposure, and it will utilize OTM put options as a protective mechanism which allows BTC downside to be capped at a maximum of 10% of the US dollar value of the Fund per month. Significant Bitcoin gains are made during any period of drawdown exceeding 10%, and IBA has, historically, strongly outperformed its benchmark of BTC.
Bitcoin enjoys a first-mover advantage as well as substantial brand recognition, and it remains a popular investment choice for new market entrants. In historical terms Bitcoin has demonstrated low correlation to major asset classes such as equities, bonds and commodities. It can therefore offer superior risk-adjusted returns compared to more traditionally-oriented portfolios. A key aspect of Bitcoin is its scarcity and it can thus translate to a store of value for investors. With a current market capitalization of less than 5% of gold, there is significant room for Bitcoin to capture a larger share of global wealth. Bitcoin's property of scarcity can also serve as a bulwark against the inflationary pressures faced by fiat currencies and other risks associated with the traditional financial system. The IBA Fund offers the benefits of Bitcoin with reduced volatility - a concern which acts as a barrier to entry for many investors. In addition:
Perseus
Perseus is a secure, end-to-end ICO raise platform. Perseus was developed by Invictus Capital to assist projects with their raise process in an efficient manner. Though often associated with the Hyperion Fund, any project can apply for this service.
Perseus offers front-end, back-end, business, legal, technical, as well as marketing services. Projects can customize according to their requirements.
On the front-end, Perseus provides a secure investment portal, including KYC/AML processes. This portal caters to different languages and currencies. Funds are received securely and stored cold, with user-specific information according to their investment history.
On the back-end, analytics and reconciliation reports are available. This is in addition to other administrative and wallet tools.
Business services can include assistance with exchange listings, advisors, community development, and ICO strategy. Perseus can also assist with roadmap and tokenomic planning.
In terms of legal services, this extends to the drafting of agreements (such as SAFTs) and the creation of contractual terms.
Technical services encompass the development and auditing of smart contracts, token issuance and security pen-testing.
On the marketing side of things, this relates to content creation and dissemination, community management, brand consulting, campaigning, as well as general strategy.
Perseus brings value to the blockchain ecosystem, and increases the chances of partner success. Please find FAQ regarding Perseus here.
submitted by Camaa to InvictusCapital [link] [comments]

[uncensored-r/CryptoCurrency] Predictions for 2018 and lessons learned from trends in 2017

The following post by arsonbunny is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7qk781
The original post's content was as follows:
I'd like to take the time to reflect on the crazy year that was 2017 for cryptocurrency investors, and weigh in on what we've learned over the past year, while also making a few predictions for the future.
One year feels like a decade in crypto, and so many various forces finally cumulated together in 2017 that we had an explosion of activity that left me feeling both exhausted and exhilarated. We saw LTC go on Coinbase, we saw an ICO rush with new issues like Bancor raising 150mil in 3 hours, we saw the absurdity that is cryptokitties crushing the ETH network, we saw Bitcoin Cash and the shitshow surrounding that, we saw Segwit and the long awaited Bitcoin futures. I will always remember where I was at the moment I watched Bitcoin pass $10,000 on GDAX. I will never forget the sweat as I watched the Gemini Auction for my BTC and then waiting for the payment to settle. And I will never forget the flurry of questions, advice seeking and inquiries from people in December as the media spotlight made cryptocurrencies a mainstream concern. We've come a long way, from the days of being considered oddball technogeeks to now being the vanguard of early adopters.

Some major trends in 2017 and lessons learned

  • The Mainstreaming of Cryptocurrencies: This was the year that the "normies" entered crypto in astounding numbers, especially later in the year and cumulating in December. From Ice Tea companies to my hairdresser, everyone wanted to be involved in crypto. New naive money will continue to pump into the market this year, and its important we welcome them while also keeping their expectations grounded in reality. Encouraging new investors with stories of how they can double their investment in a week is not a sustainable method of keeping them interested in crypto.
  • ICO Craze: For many 2017 was the year that the ICO. People made a ton of money by getting into ICOs early before a coin became hyped by the marketing efforts. Sites like ICOBench sprung up and provided people an easy way to find new ICOs to invest in, and those who got in could get a handsome profit by buying the coins for pennies then selling them for dimes a few months later at an exchange, with many ICOs offering pre-sale discounts for early registrations. I suspect that this trend will actually die out in 2018 as there seem to be way too many coins coming out now and they won't all be able to pump, we're already seeing ICOs recently getting dumped hard the moment they start trading on an exchange.
  • The rapid development of altcoin investment: At the beginning of the year the marketcap for altcoins as just $2 billion. By the end of 2017 it grew to over $370 billion. This was the year that investing in cryptos became about more than just Bitcoin. We saw an explosion of new promising altcoins, Binance launched in July, LTC was added to Coinbase and Ethereum really came into its own as a dominant force. I suspect that this focus on altcoins will continue as its now easier than ever to research and obtain them.
  • Resilience in the face of regulation: China banned initial coin offerings and bitcoin exchanges in the first weeks of September. The ban caused a precipitous drop in cryptocurrency flows worldwide and invoked panic within me, with Bitcoin going down to almost $3K. However we recovered surprisingly quick. This is why I wasn't too concerned with the recent news that Korea may crack down on exchanges. Cryptocurrencies are decentralized and distributed, and while government actions certainly can hurt the price in the short term, I think any attempts at increased crackdowns will result in a recovery within a few months. Crypto seems to be a lot more resilient than most people realize to laws trying to destroy it, so don't freak out when you hear a story about increased regulation in the Far East.
  • Institutional money coming in: We saw the speculation of an ETF not come to fruition, but in December the CME Group and CBOE started trading futures on Bitcoin. The lead up to this event and the subsequent decline and relative stabilization of Bitcoin will lead to a cascade of effects. We now have a genuine price discovery mechanism that will put downward pressure on BTC with its futures contracts. McAfees predictions of a million dollar BTC are not going to come to fruition now that you can short it.
  • Chase for the "next bitcoin": Lambo psychosis dominated and continued into the new year with nearly every coin in the top 100 showing a steep parabolic rise. This is actually something a lot of long term investors find deeply troubling, because now people are hungry for crazy x10 gains within a month and that is simply unsustainable.

Some predictions for the year 2018

Decline for Bitcoin
I have a long-standing emotional connection to Bitcoin and really do want it to succeed. But by now even the early adopters have come to accept how far away we are from the original vision of the currency. We are now seeing a decrease in adoption among ecommerce sites, which a sad state of affairs. I'm not so confident that Lighning will be enough at this point. Lightning likely wont be here for at least another 1-2 years and the problem will be user adoption. Segwit gave users a 40% discount on fees, and was a relatively simple upgrade, yet its 2018 and only 8% of transactions come from Segwit addresses. LN is way more difficult to implement, so don't expect it to be useful for at least a year after release. Core developers should have followed through with the New York Agreement and increased the blocksize to 2 MB. It's actually much more practical to scale BTC through miners than users, as most miners abide by the rules of a small set of mining pools and use the same software. Segwit2X was doomed to failure but it had 90% support among miners before the campaign against it started, and even after it had over 70% miner support. I think 70% miner support before a fork is vastly better for initiating a change than 8% user support.
Core team really needs to wake up right away and realize that the continual declines in market dominance are a reflection of Bitcoins failure to find utility, and that the first movers advantage and name brand will not last forever. Unless it solves the problem of insane transaction fees, ballooned mempool size, long transaction times and most of the accounts not even being able to afford to move the balance out I don't see BTC doing anything but declining in market dominance.
Ethereum will become an even more dominant force
I can see the long awaited flipening come in 2018. Ethereum already processes way more transactions than anything else, it already is basically THE platform for new coins and powers so much of the entire cryptocurrency ecosystem. The Constantinople fork and Casper Proof-of-Stake changes should take care of the TPS limitations for the next few years, and I expect to see an explosion of dApps in 2018. Ethereum has tons of developer support behind it and POS means people will want to hold it for the long term. Its already become my #1 core/safe-haven position and I think a 3-5K range in 2018 is completely reasonable.
The emergence of transactable business-oriented blockchains
The last few years were about theory and technological innovation, but I think 2018 will be the year that cryptocurrencies finally start to demonstrate value in solving business problems.
Ultimately a cryptocurrency is pointless if it doesn't solve some transactional problem or alleviate some inefficiency in the value-exchange process. There are several sectors/cases for business users that are ripe for blockchain technology: supply chain, settlement layers between intercurrency transactions, payment processing, offloading processing tasks onto blockchains, identity management...etc.
I expect that transactable coins that actually have functionality will be the big winners. ICX, WTC, VEN, NEO, XLM and others that target enterprise-oriented use cases will likely be the focus over the next year.
The rise of a DAG coin as a standard for transfers between exchanges, most likely Raiblocks (XRB)
Lets be perfectly honest: Right now the vast majority of transactions being conducted on the blockchain is simply moving cryptos around various exchanges. Its quite a nerve-wracking process, watching thousands of dollars sitting unconfirmed on the blockchain explorer for hours is not a pleasant experience. If you move your balances a lot you will end up losing substantial money to transfer fees. This is why I can see a light fast DAG becoming a standard for inter-exchange transfers of funds, specifically XRB after it gets listed on Binance. Being a DAG the process of onboarding isn't as simple as just adding another ERC20 coin, but once the Raiblocks team figures this out on Binance I suspect that adoption will follow quickly to other exchanges. The quick transactions speed and no cost will make it the ideal coin to exploit arbitrage between less liquid and more liquid markets.
The rise of "dividend" coins"
The next year should be one where the stretched valuations are questioned, and those coins that pay out a form of dividend and can thus be easily valued will become a safe harbor. NEO, EOS, ARK, VEN,OMG among others should gain favor. We actually saw NEO do particularly well in this recent downturn. I expect to see a lot more also following this dividend payment model.
**The move away ...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Proposal: New ticker, new unit denomination.

I've seen a lot of posts here recently regarding what unit of account Bitcoin Cash should use.
There seems to be consensus that a unit six orders of magnitude smaller than the current BCH would make pricing more user friendly (both buying bitcoin with fiat and buying goods and services with bitcoin).
Have we considered the following?
  1. Come up with a new ticker to represent 100 Satoshis (BCH/1,000,000, e.g. BIT, BTCC, etc).
  2. Dual list Bitcoin Cash as BCH and the new unit on exchanges. Let normal price arbitrage settle the price of the new unit to 1/1,000,000th that of BCH ($0.001250 currently).
  3. Replace BCH in protocol implementations with the new unit, i.e. make the new unit the default in the core software (eliminating the need for mili- and micro- prefixes at the UI level).
Some questions:
  1. Would this be worth pursuing? What are the risks, costs, and benefits?
  2. What would be your preferred new unit (I think we can do better than BCH)?
p.s. I've been floating something similar to the Dash community as well. Feedback welcome.
p.p.s. The Vechain community is planning something similar as well, and I think they're doing the right thing.
submitted by ISkiAtAlta to btc [link] [comments]

Beginner's Guide to Exchanges - Part 2

Beginner’s Guide to Exchanges – Part 2

A little late, but as promised here is Part 2 of the Beginner’s Guide to Exchanges. I would like to sincerely thank everyone for their support and feedback in making these.
Link to Part 1
This time I also made a Google Docs survey in the hopes of sharing the results with the community. I thought we could share what we use as a whole and why redditors choose the exchanges they do. For skeptics (as you all should be), I assure you that I am not collecting personal information. This is for recreation and if you are still wary, then by all means abstain!
Link to Survey
In Part 3 I will be wrapping up this series by covering decentralized, semi-decentralized, and derivative exchanges. Here it goes!

00 – Concepts and Definitions (Continued)

04 – Fiat Exchanges – Canada

QuadrigaCX

Country Linked Bank Transfer Wire Transfer Paypal Credit/Debit Crypto Transfer
CAD Deposit 1%/ Withdraw Free Free Free (Withdraw Only) 1% (Withdraw Only) Free
USD - Free Free (Withdraw Only) - Free
Exchange Type Maker Taker
Fiat .5% .5%
BTC/ETH .2% .2%
Feature Details
2FA Google Authenticator or Email 2FA Available
Wallet Security Undisclosed amount of funds in cold storage
Web Security 3rd Party Security provided by CloudFlare
Bug Bounty Expired $50 bounties
Tier Level Name Email DOB Phone Address Official ID Bank Info Credit Score Limits
Basic Account X X Digital only, Limits Vary
Verified Account X X X X X X Limits Vary

05 – Fiat Exchanges – Europe

CEX.IO

Country Credit/Debit Bank Transfer Crypto Transfer
Europe 3.5%+ €0.24 Deposit €0 / Withdraw €25 (SEPA €10) Free
Russia 5% + ₽ 15.57 - -
UK 3.5%+ £0.20 Deposit £0 / Withdraw £20 (SEPA Free
US 3.5%+ $0.25 Deposit $0 / Withdraw $50 Deposit $0 / Withdraw 1%
Exchange Type Maker Taker
All Currencies 0% .20%
Feature Details
2FA Google Authenticator Available
Wallet Security Undisclosed amount of funds in cold storage
Credit Card Data Overseen by 3rd Party Kyte Consultants
Web Security SSL Certificates and Encrypted Personal Data
Tier Level Name Email DOB Phone Address ID + Photo Bank Info KYC Limits
Basic Account X X X Digital only
Verified Account X X X X X X $10,000 Daily/$100,000 Monthly

BTC-E / XBTC-E

Country Credit/Debit Bank Transfer Paypal
Europe - SEPA - Deposit .5% / Withdraw 1% (€100 min) -
Russia 6% 6% -
US 7% Deposit .5% ($20 min) / Withdraw 1% ($100 min) 7%
Exchange Type Maker Taker
All Currencies .20% .20%
Feature Details
2FA Google Authenticator Available
Password Expiration Must be changed every 6 months
DDoS Protection 3rd Party Security Services provided by CloudFlare
Bug Bounty Yes at xBTCe
Tier Level Name Email DOB Phone Address Official ID Bank Info KYC Limits
Verified User X X X X X No Stated Limits

Liqui.io

Exchange Type Maker Taker
All Digital Currencies 0.1% .25%
Feature Details
2FA Google Authenticator Available
Bug Bounty Reported bounty posted on HackerOne (unconfirmed)

06 – Fiat Exchanges – South Korea

안녕하세요 여러분! 혹시 우리 한국인 친구 이 보고서를 한국어로 읽고 싶어한다면 알려주세요. 관심이 많이 있다면 간단한 한국어 보고서도 만들 수 있습니다. This year, ETH has taken off like a rocket in the Land of the Morning Calm. With a population of just 50 million, South Koreans account for almost 30% of daily ETH trade volume. Even more surprising is that currently the daily volume of ETH is about 5 times higher than that of Bitcoin on Korean exchanges. Since demand is high, ETH is trading at a premium on Korean exchanges. Some users have been talking about capitalizing off this imbalance by trading on arbitrage between exchanges. For those who have no connection to Korea and hope to do so, I have bad news – all Korean exchanges require a National ID number and access to a Korean bank account. This makes Korean exchanges virtually closed to Korean nationals and those with long-term visas. Sorry everyone.

Bithumb

Coinone

Korbit

07 – Fiat Exchanges – China

With a great deal of anticipation, major Chinese exchanges started trading ETH this summer. Since these exchanges deal huge volumes of Bitcoin already, naturally it was expected that they invest heavily into ETH as well. So far this hasn’t quite lived up to the hype with many exchanges still favoring Bitcoin, Litecoin, Altcoins, and even Ethereum Classic (Gulp). Three of these exchanges underwent inspections by the Peoples Bank of China earlier this year and will be working closely with the government to ease fears of money laundering and market manipulation. There are a lot of Chinese sites, and since my Chinese is non-existent this list is basically just for name recognition. In many ways these sites are very similar in regards to security, verification, and fees compared to their western counterparts; just marketed at a different audience and currency. If users are seriously interested in these exchanges and making reviews, please contribute or ask!

OK Coin

Huobi

CH-BTC

Yunbi

08 – Coinswaps & Cryto-converters

ShapeShift

Changelly

submitted by poop_dragon to ethtrader [link] [comments]

PlusToken (PLUS)

PlusToken (PLUS) PlusToken stands for more then only an application Token. PlusToken stands for a super digital asset wallet with AI.
About PlusToken So far, the crypto currency market has clearly been dominated by Bitcoin. With many new thinkings and the introduction of new technologies, a change has taken place. The use of Blockchain technology offers endless possibilities, especially in app development and virtual reality. The goal of PlusToken is to combine the paymets by QR code and a wallet to save and exchange your cryptocurrencies PlusToken is a Wallet focused on unability with easy access for everyone 6 months after the launch ofe the wallet over 500.000 users. Free App for iOs and Adroid Decentralized Wallet Currently 8 crypto-currencies plus own token 6 months after the launch of the wallet over 500.000 users. Free App for iOs and Adroid Decentralized Wallet Currently 8 crypto-currencies plus own token Deposits / Withdrals with QR-code possible Exchange / trading platform integrated Free arbitrage software included
MobilWallet(iOS/Android): https://plustoken.vip/ Referal: 15234800761 (required for Sign Up)
If you need help for SignUp feel free to contact us: https://t.me/PlusToken_English
SourceCode (MobileWallet): https://github.com/FrankDiao/plusToken?files=1
PlusToken Foundation(USA): https://h.eqxiu.com/s/dZFi9Bt7?eqrcode=1&share_level=5&from_user=1b02967d-01a0-4b8b-b017-0022daaaaa
Whitepaper: https://drive.google.com/file/d/1r2fJ6NLBhAAx-SuG_Y_0Ad5Bf18Y73Bg/view?usp=drivesdk
Links and Sozial Media: Twitter: https://mobile.twitter.com/PlusTok54644122
Facebook: https://m.facebook.com/PlusTokenAsia/
Webseite: https://pltoken.io/ http://ptoken.io
Telegram: https://t.me/PlusToken_English
Blockexplorer: https://etherscan.io/token/0x5f5fa025d9db0a3a26264bfa93aa27875111d9b1
Bitcointalk: https://bitcointalk.org/index.php?topic=5079844.new
submitted by PlusToken_official to u/PlusToken_official [link] [comments]

Hero Node — AMA

https://preview.redd.it/709g6p8g54011.jpg?width=1920&format=pjpg&auto=webp&s=5864cddf06cdfa93596983647faba08cf1e050c1
Hello everyone, we hosted the AMA (ask me anything) in our community yesterday. The co-founder Mason answered the questions of the group members one by one. Due to limited time, we only answered some typical questions. Please understand. After the event, we organized all the questions in the group into articles for you to review.
Of course, if your question is not in this article, please send an email to [[email protected]](/).
1.How long has the project been going on? And when can we expect the launch of the mainnet?
When we were in the form of the company Dianrong.com, we started the development and open source it on GitHub after 2yrs. In the end, we decided to raise money in an ICO form. The most crucial part of the project is building a network that support’s DApp’s, and that’s something we’ve already achieved. For more information regarding this, please visit the following article we wrote:
https://medium.com/@hero_node/hero-node-dashboard-is-officially-launched-taking-a-big-leap-in-dapp-development-8ccd28f60c64
Also, our own public chain will be published at the end of 2019!
2. When can we expect a detailed roadmap?
The roadmap in the whitepaper contains our complete roadmap, this will be added to the website soon!
3. Why do you have two Telegram groups?
Because of high interest, our first group reached the maximum amount of members, to give everyone a chance we decided to create a second group! But, we will try to see if we could emerge everything back into one group!
4. What is the nature of the partnership between Hero Node & Qtum?
We have a technical cooperation with public chain investors such as Qtum, ITC and BTM. Hero Node plans to support a number of public chains including Zilliqa. We believe that Hero Node can help them on expanding their markets /eco-system by integrating the public chain services, besides that we also require a variety of public chains to solve different challenges.
5. How can we verify your investment from Fenbushi and Qtum?
For Qtumm please go to: https://qtumeco.io/dapps and for Fenbushi, please check the images below:
https://preview.redd.it/9my79za954011.jpg?width=1080&format=pjpg&auto=webp&s=81f028ce542dcf9b0a0c36c6dec84502036475ce
6. Why didn’t Hero Node choose to support the price?
We just started and are really in the beginning stage of this amazing project, we don’t want to manipulate currency prices. We believe that with the development of the project the price will rise!
7. Do you have your own public chain?
As stated in the first question we will publish our own public chain at the end of 2019. For more information regarding our public chain please read the whitepaper. The project was divided into three phases:
Validation
Reward
Community
During the first two phases, we’ll be making use of the tokens based on ERC-20. When we enter the last phase the tokens will be generated by our own blockchain consensus algorithm.
8. I think the code on GitHub is not so crucial?
That’s because we only publish the code of the reward and consensus mechanism. We do have plans to publish the complete code after we’ve fully tested and verified everything.
9. Why can the refund be done only during specific times? and why is it mandatory that you can only refund if you haven’t traded the tokens?
We’ve chosen to open refunds at specific times to give our investors some time to think about the refund program. Regarding the second questions, we have implemented this policy to prevent investor using the refund for arbitrage which can have an impact on the market.
10. Who are Hero Node’s direct competitors? Why is Hero Node better than others, for example, EOS, FileCoin, IPFS?
Both Hero Node and EOS are trying to serve the Dapp development, but as you can see we’ve taken a completely different approach. Hero Node prefers to be completely decentralized, so it integrates some public chains rather than create an all-round chain. In frontend decentralization, Hero Node and IPFS are very similar, but we are not Dweb, but help developers to deliver the real Dapp. Also regarding the incentives part, we are not the same with FileCoin. If interested in that, I recommend everyone to read the posts I wrote on Medium about EOS and IPFS:
https://medium.com/@hero_node/solution-to-the-impossible-trinity-talking-from-the-trend-of-ipfs-web-player-56f28a0abcc6
https://medium.com/@hero_node/attention-eos-could-really-be-a-cancer-cell-9420d7ea8c16
11. How can I get in contact with your recruitment team?
Please send your resume to [[email protected]](/)
12. How many tokens do we need for running a node?
Running nodes won’t consume your tokens, but developers need to lock the tokens to get more resources, such as storage, bandwidth, etc.
13. Which kind of consensus mechanism is Hero Node based on? PoS or PoW?
It will be similar to PoW but different with Bitcoin, our public chain will use a creative algorithm which is different with PoW/PoS.
For a more in-depth description of our consensus, please read the article:
https://medium.com/@hero_node/talking-about-the-proof-of-existence-consensus-mechanism-9e90b7e8f4b7
15. What is the main focus of the team at the moment?
We are currently focusing on development & marketing!
16. Why are you listed on the Dapp page of Qtum? Are you their Dapp?
No, but we can help them with their ecosystem, their developers can use Hero Node to easily develop a Dapp based on Qtum chain.
17. Why do you have a refund policy?
Because we want to protect our investors.
18. How big is the team? And how many of them are developers?
Our team consists of 14 people, 8 of them are developers. We have many part-time developers and are still hiring.
19. A lot of people are wondering when will Hero Node be listed on the next exchange, could you please shed some light on the Binance rumors regarding certain transactions
There is this reliable ethscan service that informs about the listing of coins on exchanges, and more than often they are genuinely reliable. But we planned listing on exchanges within one month after ICO and of course there could be some top ones, but due to NDA we can’t say more about it until it’s finalized. Please keep an eye on our announcement channel, because that’s where we’ll be announcing it: https://t.me/HeroNodeChannel
20. Your advisory team seems more like finance people than blockchain experts, can you tell us more about the team?
At the moment, Hero Node has 3 advisors:
Kevin Guo is chairman of CBAC, which is the top organization of blockchain application in China
Richard Wang, the partner of DFJ, many experience on blockchain investment such as Vechain. Also, he has many resources in the area.
Jerry Liu, the professor from Stanford University.
21. Why is the contract of the crowd-sale, not open source?
Because of security reasons, we’ll be open sourcing the contract after the refund is finished. Also because there could be some bugs for the Ethereum and smart contract written by Solidity. Although we’ve tested the contract many times, for security reasons we will keep it closed until the refund is finished.
23. When will the code of the node be open source?
We will open source the code at the end of this year!
24. Compared to other cross-chain projects, what are the differences between Hero Node and others?
Please read the following article: https://medium.com/@hero_node/liu-guoping-founder-of-hero-node-talked-about-blockchains-cross-chain-506b2d3f90f084
25. In what stage of development is Hero Node now?
We’ve had some demo’s for DApps and have almost finished the integration parts of some public chains. If you’re interested you could take a look at our visualization map our node:
http://106.14.187.240/dashboard/geo
26. What do you think about the crypto market? Is it a bubble? And do you think that blockchain technology is overvalued?
We believe that blockchain is the future.
27. What did Hero Node do to help develop Dapp?
In short, we did the following:
Integration of public chains and distributed storage services.
Cross-platform dev framework called Hero Mobile.
The fully decentralized network and DApp eco-system
28、Do you have plan for integrating NEO?
We’re considering a cooperation with them.
29. Can you tell us something about the deployment of nodes?
At the moment we have ~10 nodes running all over the world, please check our visualization map:
http://106.14.187.240/dashboard/geo
30. With which projects have you established a partnership?
At the moment we have a partnership with Qtum, IoT, and much more is on the way! We plan to support a number of public chain including Zilliqa.
31. Where is Hero Node registered and where are you based?
Singapore, but currently a part of the team is working from China.
32. Is the command “npm install” available?
Yes, you can use the command to add ETH and IPFS service and welcome your contributions
33.How do you ensure that your team’s token are locked for 2 years, and will you be able to cash out in advance? Why not use smart contracts?
We will announce the team’s address.
34.Don’ t we need a minimum amount of Her to setup a node ?
No.
37. Why does the Hero Node team prefer to work with IPFS instead of Stroj for example?
Our developers have more than 2 years of experience working with IPFS, we also did compare IPFS with other distributed storage services and IPFS came out as the most mature one at this moment
38. What is the lock plan for pre-sale tokens?
Pre-sale tokens will be locked for 3 months including base and bonus. Every month 1/3 of the tokens will be unlocked.
39. Could you please tell us more about the partnership with Ziliqa?
We’ve met them several times and are currently testing on their testnet.
40. How come HeroMobile is not updated frequently?
HeroMobile is already a relatively mature project. But we’re definitely improving it.
41. How to run a node without having to stake any tokens?
Running a node is like running a Bitcoin or Ethereum node. It does not require tokens, but it needs to provide hardware resources such as CPU, storage, and bandwidth.
42. How can we run nodes and is there an incentive structure to do so?
Yes, we will have a mining mechanism similar to the mining algorithm of POW, refer to this article please:
https://medium.com/@hero_node/talking-about-the-proof-of-existence-consensus-mechanism-9e90b7e8f4b7
43. Will the official decentralized Dapp still be launched in June ?
Yes it will be at end of June.
44. When can we run nodes?
At the beginning stage, we will provide partners with nodes to run and test. According to the roadmap, we will push it to everyone in early 2019.
45. Are the main target users of Hero Dapp developers? What’s the plan for adoption after the official launch?
Not only developers, but also node providers, even ordinary users can use dapp developed based on HeroNode.
We will first improve the node, and improve the tools and SDK at the end of this year. The next step will be to conduct a lot of testing, and all developers are welcome to join in the test. After the entire system has matured, we will hold many hackathon activities to attract more developers. Of course, there will be many token incentives.
46. When will you guys start focusing on marketing?
We have already focused on marketing and are planning to do so even more. We welcome everyone to give us suggestions.
47. What is the next major milestone and when will that be reached?
Next milestone is the first Dapp releasing at end of June.
48. The hereditary idiots who wanted to refund or have refunded where will those HER tokens go? Will they be burnt or added to the ecosystem?
They will be reserved for partnerships.
49. Would you say you are in direct competition to EOS? If yes, how do differ? What is your edge for the adoption?
We have the same goal. We hope to solve the problem of developing Dapp, but EOS wants to obtain a balance in high tps, security and stability. Hero Node adopts the advantages of many public chains and pays more attention to ecological construction.
50. EOS is a cancer. I saw this post on Reddit. What does it mean?
EOS draws a lot of resources and it spreads like a cancer cell, affecting other ecologies. But in the end let’s see what it can give developers or if it is just a capitalist capital chase?
51. Dapp uses resources of Hero nodes that support both IPFS nodes and underlying blockchain nodes or are they the same?
Hero Node will integrate public chain resources and IPFS resources to form a complete ecosystem for developers to use
52. Will you recruit more developers ? While you compare to EOS, you know they have a very big team.
For sure, we will recruit more full-time and part-time workers. Development is our backbone.
53. Would you explain the difference between Hero Node and Filecoin model as they both consume resources by Dapps?
Filecoin is also an ecosystem of IPFS, but we are not just focusing on the storage part. We focus on the entire Dapp development cycle.
54. I appreciate the NDA clauses but as parting gift from this AMA — Can we get any juicy information that we can share with others and help bring the price up more.
At this stage we really could not share anything regarding our NDAs. Please be patient. There is lots of exciting news to come in the future.
55. Can someone please elaborate on the marketing efforts the team is doing?
  1. Recruiting more operators
  2. Some activities and development progress in China will also be synchronized to overseas media
  3. We are planning meetups in various countries.
56. What does “lock token” mean by developers?
This is a kind of behavior similar to the lease of resources. It can prevent resources from being abused, and it can positively cycle the entire ecosystem.
57. What’s the link on Medium of Hero? I want to read the articles about EOS and IPFS.
https://medium.com/@hero_node
58. Which gas limit i should use to make refund?
100,000
59. Already 3.5M tokens got refunded (technically out of circulation for now)?
Actually the number is 5.7M
60. Can you provide several examples on how someone will use your project and why your project is the best for this?
For example, when you place order an order on Amazon but use Paypal to fulfill the payment. These are two different companies with different processes. This is very difficult between the two public chains, at least for now it is difficult, Hero Node hopes to solve this problem by integrating the public chain and IPFS resources and creating a whole ecosystem. In the near future, you can use QTUM to place orders, but you will pay with ETH.
61. Seems to be the majority of people have no clue what they buy or why its unique I gotta be honest myself I don’t know the method behind coding for blockchain what do you use for coding and how do you test the code?
Our code structure is divided into Hero Aggregate Layer, Hero Node Gateway, Hero Mobile Protocol, Hero Kit and so on. We will have unit testing for each function in each structure. After each unit runs tests, we will perform process testing and carry out a large number of tests before delivering the software.
62. What you think about Morpheus labs? Are they your competitors?
Sorry, we don’t know much about them.
END 
In an open world, Hero Node welcomes any and all feedback. Especially helpful feedback will be rewarded!
Talk to us:
Medium: https://medium.com/@hero_node
Email: [[email protected]](/)
Twitter: https://twitter.com/hero_node
Reddit: https://www.reddit.com/HeroNodeOfficial/
Facebook: https://www.facebook.com/HeroNode.io/
submitted by HeroNode-official to HeroNodeOfficial [link] [comments]

First Trading Ecosystem (FTEC) Token

FTEC is an an ecosystem of intelligent services and neural networks for conducting effective trading activities on cryptocurrency markets.
The main objective of First Trading Ecosystem (FTEC) team is to build a unique trading ecosystem with a complete toolkit for working on cryptocurrency markets. It is also important to form a broad community that will share the values of the project and actively support the developers.
FTEC is designed to minimize the risks for investors by using the recommendations of the automatic search system for the most profitable offers on the market. Due to the use of automatized cryptoacademy and broad knowledge base, users will be able to study the specifics of cryptocurrency trading. Moreover, they will be able to overview the latest trends within the industry via smart service for analyzing social networks and search engines data.
There is basic portfolio management for creating and tracking stats, in addition to a global price analyzer that finds investors the most profitable offers on exchanges with the lowest rates. And those are just some of the feature FTEC has to offer.
.
Here are some reasons to join First Trading Ecosystem (FTEC)
.
Services of First Trading Ecosystem (FTEC)
. * Smart Trading Modules
. Partners of First Trading Ecosystem (FTEC)
. * Ambisafe Software : https:// ambisafe.co/
.
ICO Details of First Trading Ecosystem (FTEC)
.
0 - 1 000 : 25%
1 000 - 2 000 : 20%
2 000 - 4 000 : 15%
.
Token Distribution Details
.
. People behind "FTEC" Project.
ADVISOR
.
Andrey Dryga : Blockchain | ICO Analyst | ICO-Anti-Scam expert LinkedIn : https:// www.linkedin.com/in/andrey-dryga/
. TEAM
Egor Osaulenko : Software Developer LinkedIn : https:// www.linkedin.com/in/egor-osaulenko-b073444b/
.
Learn more about First Trading Ecosystem (FTEC)
.
Website : https:// ftec.io/
White Paper : https:// ftec.io/en/whitepaper
Telegram : https:// t.me/FTECofficial
Twitter : https:// twitter.com/ftec_found
Facebook : https:// facebook.com/FTEC.Foundation
BitcoinTalk : https:// www.bitcointalk.org/index.php?topic=3161171.new#new
YouTube : https:// youtube.com/channel/UCxAjFLMR2_X-IZqkhZrt8rA
Reddit : https:// reddit.com/useftecfound
Github : https:// github.com/FtecFoundation
LinkedIn : https:// www.linkedin.com/company/ftec-io/
Medium : https:// medium.com/@ftecfound
.
BitcoinTalk profile ID : App50
BitcoinTalk profile Link : https:// www.bitcointalk.org/index.php?action=profile;u=1729506
submitted by Signal693 to ICOAnalysis [link] [comments]

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