EOS to empower the Blockchain Renaissance

EOS is a decentralized blockchain operating system that was designed to support industrial scale decentralized applications (dApps).

While there are many dApp platforms competing for their share of the market, EOS stands out as the technology that will likely play the biggest role in supporting the coming blockchain renaissance.

Why EOS and not Ethereum?

EOS has two key points of differentiation from other blockchain platforms that have brought the project a lot of attention:

  1. They plan to completely remove transaction fees.
  2. They claim to have the ability to conduct millions of transactions per second.

Ethereum has been by far one of the biggest breakthroughs in blockchain technology, kicking off a massive wave of innovation and new decentralized applications with the ERC-20 standard utility token protocol.

However, Ethereum is far from ready to scale to meet the needs to mass adoption and mainstream applications with many users. Two key reasons for this are the transaction fees on the Ethereum network (gas) and the low number of transactions per second.

EOS is better for developers

The main difference between how Ethereum and EOS operate is that while Ethereum rents out their computational power to the developers, EOS gives ownership of their resources.

So for example, if you own a 1% stake in EOS then you will have ownership of 1% of the total computational power and resources in EOS.

“EOS’s ownership model provides DAPP developers with predictable hosting costs, requiring them only to maintain a certain percentage or level of stake, and makes it possible to create freemium applications. Furthermore, since EOS token holders will be able to rent / delegate their their share of resources to other developers, the ownership model ties the value of EOS tokens to the supply and demand of bandwidth and storage.” -icoreviews

These fundamental differences between EOS and Ethereum that make EOS more well-suited for supporting the next wave of blockchain innovation and decentralized application, a.k.a. the blockchain renaissance.

Dan Larimer, “The Architect”

Dan Larimer is the CTO and creator of EOS. He is renowned for being one of the, if not, “the” top blockchain developer in the space.

Dan is a true pioneer as demonstrated by his creation of the delegated proof-of-stake (DPOS) algorithm and decentralized autonomous organizations (DAOs). He is the also the man behind BitShares and Steem, two of the most high-performing blockchains in the space.

One of the key reasons people have so much confidence in the EOS project is because of Dan’s solid track record and brilliance in architecting elaborate systems that work flawlessly.

Dan has walked away from two of the most successful blockchain projects in the world, created himself, to work on EOS which promises to be his masterpiece.

What does EOS bring to the table?

#1 Scalability

The biggest problem the blockchain space is facing is scalability.

Because EOS uses DPOS aka the distributed proof-of-stake consensus mechanism, they can easily compute millions of transactions per second. We will explore DPOS in a bit.

#2 Flexibility

Ethereum’s blockchain came to a halt because of the DAO attack. Everything stopped and the community split with a hardfork.

Because EOS uses DPOS this sort of thing won’t happen. If a dApp runs into these sorts of problems, the block producers can freeze it until it’s resolved. This would be an extension of the DPOS system where not every node has to take care of chain maintenance.

#3 Usability

EOS has great usability features for developers. It allows well-defined levels of permission with features like a web toolkit for interface development, self-describing interfaces, self-describing database schemas, and a declarative permission scheme.

#4 Governance

In EOS, governance is maintained by establishing jurisdiction and choice of law along with other mutually accepted rules in a legally binding constitution.

Every EOS transaction includes the hash of the constitution in its signature. This binds the users to the constitution.

The constitution can be amended following a thorough process:

  • The change is proposed by the block producer who obtains a 17/21 approval rate
  • The 17/21 approval must be maintained for 30 straight days.
  • All users are required to sign off their transaction using the hash of the new constitution.
  • Block producers adopt changes to the source code to reflect the change in the constitution and propose it to the blockchain using the hash of a git commit.
  • Block producers again need to maintain 17/21 approval for 30 consecutive days.
  • After that, full nodes are given one whole week to adapt to the new changes.
  • Any node that doesn’t follow the new protocol is automatically shut down.

 

The ability to make changes to the constitution is important because if something like the DAO attack happens and EOS needs a quick solution, the block producers have the power to speed up the amending process.

#5 Parallel Processing

Program instructions are divided among multiple processors. EOS provides parallel processing of smart contracts through horizontal scalability (adding more computers), asynchronous communication (all parties involved don’t need to be present to communicate), and interoperability (exchange and use information with other systems). This speeds things up substantially.

Self-Sufficiency

All blockchains built on EOS will generate a 5% natural inflation per year. This will be distributed to the platform’s block producers for confirming transactions on the platform.

This ensures that blockchains won’t rely on only one foundation, organization, or individual for its growth, development or maintenance.

A Decentralized Operating System using DPOS

This is the most important feature to understand what EOS is all about and what really sets it apart.

While Ethereum is a decentralized supercomputer, EOS positions itself as an operating system. This makes EOS a more focused product.

Delegated Proof Of Stake (DPOS)

EOS uses Delegated Proof of Stake (DPOS) for their consensus.

What is proof of stake?

Proof of stake makes the mining process virtual and replace miners with validators.

This is how the process works:

  • The validators will have to lock up some of their coins as stake.
  • They start validating the blocks. Meaning, when they discover a block which they think can be added to the chain, they will validate it.
  • If the block gets appended, then the validators will get a reward.

What is EOS Blockchain: Beginners Guide

What makes DPOS different from traditional POS?

Anyone who holds tokens on a blockchain integrated with EOS software can select block producers through a continuous approval voting system.

Anyone can participate in the election of block producers and they will be given an opportunity to produce blocks proportional to the total votes they receive relative to all other producers.

How it works:

  • Blocks are produced in rounds of 21.
  • At the start of every round 21 block producers are chosen. Top 20 are automatically chosen while the 21st one is chosen proportional to the number of their votes relative to the other producers.
  • The producers are shuffled around using a random number derived from the block time. This ensures that a balanced connection to other producers is maintained.
  • To ensure that regular block production is maintained and that block time is kept to 3 seconds, producers are punished for not participating by being removed from consideration.
  • Producers need to produce at least one block every 24 hours to be in consideration.

The DPOS system doesn’t have forks because instead of competing to find blocks, the producers co-operate.

In the event of a fork, the consensus switches automatically to the longest chain.

Confirming Transactions in DPOS

A DPOS blockchain has 100% block producer participation. A transaction is usually confirmed within 1.5 seconds with 99.9% certainty.

In order to have absolute certainty over the validity of a transaction, a node needs to wait for a 2/3 majority (15/21) of producers to achieve consensus.

TAPOS

Transaction As Proof Of Stake or TAPOS is another feature of EOS. Every transaction in the system is required to have the hash of the recent block header.

This is important because it:

  • Prevents transaction replay on different chains (i.e. replay protection)
  • Signals the network that users and their stakes are on a particular fork.

This prevents malicious behavior on other chains.

Eliminating Transaction Fees

EOS works on an ownership model whereby users own and are entitled to use resources proportional to their stake, rather than having to pay for every transaction.

If you hold 1% of tokens of EOS then you are entitled to 1% of transactions. Holding tokens represents ownership over bandwidth and in essence, eliminates transaction fees.

The blockchain renaissance of the future

The adoption of blockchain technology is set to hit a tipping point of mass adoption within the next couple of years that will require massive scale.

The increased adoption will bring a lot more developers and projects and EOS is well-crafted to meet developer needs, provide proper incentives, and the performance needed to manage the scale.

It has been said that EOS is capable of running the entire ETH blockchain inside a single contract. This being said, EOS is far more likely to succeed on a massively bigger scale through such a partnership and integration with Ethereum.

The integration of Ethereum and EOS would provide a win-win for both projects in terms of network effects, scale and performance, costs, and interoperability for end-users.

Only time will tell how things pan out for the two projects and into the future of the blockchain renaissance. However, one thing is for sure. EOS is going to be big.

Always DYour Own Research.

Hold on for dear life.

Morpheus Network ($MORPH) to disrupt the Global Logisitics Industry

Morpheus Network is global supply chain blockchain with a payment service integrated with Swift to make global payments easier and save businesses money.

Morpheus-Network-integrations
Morpheus Network integrations

After receiving my first fervent recommendation for Morpheus Network I did what any good crypto hunter would do and began my research directly on their website.

just buy it
fervent recommendation

As you enter, you’re greeted with a well-written elevator pitch for Morpheus Network:

“Hello World. 2 Trillion USD was lost in the past year to bank fees, conversion rates, and delays in global trading. Introducing Morpheus Network, a full-service, global, automated, supply chain platform with an integrated cryptocurrency payment system utilizing blockchain technology. The blockchain economy is here.”

This alone is enough to get my attention because a global supply chain network will be one of the most important use cases for blockchain technology. In fact, some of the largest global businesses are beginning to adopt blockchain to improve the efficiency of their supply chains (Walmart, Maersk, British Airways, UPS, and Fedex to name a few).

 

Morpheus Network Logo

What are Morpheus Network’s Goals?

Morpheus Network is working with some of the biggest customs, shipping, and banking companies to create a global supply chain platform that uses cryptocurrency payments on blockchain technology.

Key Features:
  • Automatic digitization and generation of shipping contracts and documents
  • Documented shipping and customs details that comply with international regulations
  • Integration of any other blockchain technologies to be incorporated in smart contracts
  • Layered security levels and high-tech encryption with flexible permission settings
Differentiation:

While other crypto based payment processing systems target the electronic retail business, Morpheus Network’s main target is on the import and export field and global payments.

Morpheus rating system will give prospective network users assurance that they are dealing with a reliable company.

How Morpheus Works

Shipping documentation (bill of lading, commercial invoices, packing lists, insurance documents, etc.) is digitized and shared securely and conveniently between the exporter, importer and freight forwarders or customs brokers who have access in the permission settings.

The layering of Storj, a blockchain data storage technology, is where all original documentation will be stored and accessed through an encrypted hash on the Morpheus Network blockchain as a part of a Smart Contract.

These digital documents will all link to the original work contract and payment.

Once a document is added to the blockchain, it cannot be altered, which is the key component in digitizing original documents, revolutionizing the import/export industry.

How will Morpheus Network dirsrupt the Logistics Industry?

With Morpheus Network, courier services will no longer be needed to send documents around the world.

These legacy businesses are a major cause of delays due to late or lost documentation. This is a key reason why the Morpheus Network is such a major disruptive technology for the import and export industry.

The Morpheus Network User Experience

The Morpheus Network features a simplified and streamlined dashboard interface.

Interacting with the network by revising or adding Smart Contract objectives in your supply chain is designed to be intuitive and easy to navigate.

You can easily view the flow of the funds and documentation within any transaction as well as utilize any of the Morpheus Network features such as escrow payment services and document digitization.

It also features the permission settings which establish which documents or Smart Contract objectives are kept private, and which ones are visible and shareable with your shipping agents, customs brokers and freight forwarders.

The MORPH Token

The Morpheus Token (MORPH) is a value-based utility that powers the Morpheus Network. Is is also an Ethereum based ERC20 token. For global payments Morpheus has integrated Microsoft Dynamics 365 ERP system with SWIFT.

MORPH tokens give users access to the Morpheus network.

The value of the Morpheus Token is based on the value of the currency required to execute a full payment. SWIFT will be used to directly send payments to over 1600 banks through the Smart Contract.

What Would Neo Do?

So you’ve followed the white rabbit to this point. You take the blue pill, this coin review ends, you click out and believe whatever you want to believe. You take the red pill, follow the Morpheus Network into blockchain wonderland and see how deep this industry-disrupting rabbit hole goes.

Morpheus Red Pill

MORPHEUS NETWORK TOKEN PRESALE BEGINS MARCH 2nd, 2018

Token Info

This is not financial advice. Always DYOR. Do Your Own Research. https://morpheus.network/whitepaper/

BLUZELLE ($BLZ) to disrupt data storage industry leaders Dropbox & Google?

As we know, blockchain tech has many use cases and the potential to replace a long list of existing technologies. One of these is data storage and that’s exactly what Bluzelle is focused on.

bluzelle banner

BLUZELLE’S GOAL

Bluzelle wants to combine the best of the sharing economy with the token economy. Anyone can rent out excess computer storage space while dApp (decentralized application) developers can use this space to store and manage their applications’ data.  Centralized cloud-based databases won’t cut it for dApps because of major scaling issues. If Bluzelle succeeds, its technology has the potential to disrupt data storage leaders like Dropbox & Google.

 

BLUZELLE description

BLUZELLE’S PLAN FOR SUCCESS

Bluzell has already proved competence by building blockchain technology for Temenos, HSBC, Microsoft, and BT. Now there is a growing need for data storage solutions and Bluzelle plans to be there to fill that need with their own blockchain technology.

Key Features of Bluzelle’s Tech:

  1. Data is stored in groups of nodes, a.k.a. swarms. This removes concerns about a central point of failure, a very real threat in the world of cloud computing. The reality is that a “cloud” is just someone else’s computer or server.
  2. Bluzelle uses an algorithm that provides infinite scaling. By storing the dApp data using a unique network model, it can provide scalable database servers regardless for any level of demand. The only limit to scaling is how much excess storage space people choose to share with Bluzelle.
  3. These two features are coupled with a dynamic performance solution. Bluzelle dynamically adjusts the number and location of nodes sharing data to reduce request times. This improves the overall performance of the ecosystem.

USER ADOPTION IS CRITICAL FOR SUCCESS

So now that we know that Bluzelle’s tech can scale with no boundaries let’s return to address the most important driver of Bluzelle’s future success: user adoption.

We certainly wouldn’t want to end up like these guys:

user-adoption-we-forgot-about-it

Considering the ecosystem will depend entirely on the amount of data storage users commit to the platform, we want to find any metric we can get our hands on to gauge how likely users will be to adopt the technology. Here’s what I’ve found.

  1. A strong Telegram group with 25K+ members and countingJust to emphasize for those who may not be familiar with telegram in the cryptospace… 25K members is an elite level for a cryptocurrency project. The average for an ICO project might be around ~5K members.
  2. An active Twitter account with also 25K+ followers and counting and updates directly from CEO Pavel Bains
  3. Strong partnerships emerging with other strong blockchain projects
    • 0x – a decentralized exchange protocol (San Francisco)
    • Zilliqa – a blockchain protocol focused on delivering high throughput (Singapore)
    • Bee Token – this home sharing platform team comes from Uber, Google amongst others (San Francisco)

 

THE BLZ TOKEN

Bluzelle has its own native cryptocurrency, BLZ. BLZ can be exchanged for database services or earned by users who share computing resources.

Bluzelle’s ICO sold 33% of the total 500,000,000 BLZ tokens for $0.12 USD. Currently BLZ is valued at $0.64, a solid 5X increase from the ICO price. This puts the market cap at over $100M USD, and its current rank is #145.

BLUZELLE coinmarketcap

BLZ was listed on Binance and coinmarketcap on Feb 6th. Binance is currently where most of the trading volume is. Once the initial price pump tabled out, early investors have taken profits and now BLZ is trading at about a 30% discount in the BLZ/BTC pair from all-time-highs.

My opinion is that this is a case of a project where the price will follow the hype cycle and key roadmap dates. Until the next milestone, who knows which direction the price will move in.

WHAT’S NEXT ON THE ROADMAP FOR BLUZELLE?

A minimum viable product is expected to be revealed in April of this year. Building out the infrastructure required to serve as a distributed database for dApps will not be easy.

More improvements will be made through 2019. Some of the upcoming features include:

  • smart contracts
  • mobile apps
  • proof of stake requirements
  • Sybil attack tolerance
Bluzelle road map
Bluzelle’s 2018 road map

Bluzelle has an exciting couple years ahead of it, and although there is a lot of work to be done still, they have a lot going for them. It’s definitely worth taking a look at. If you decide to get involved, it should be an interesting ride. Always remember to DYOR. Whitepaper (PDF)

Hold on for dear life

What’s going on with CRYPTERIUM and why is it below ICO price?

The Crypterium ICO ran through the months of November & December 2017, where tokens were sold to investors for a fixed price of 0.0001 BTC per CRPT with early bird bonuses.

Crypterium’s price action from ICO to Now

Today the price for CRPT is sitting at 0.0000663, a solid 33% decrease in the BTC price of Crypterium since the ICO. In this case, all early investors could have purchased their tokens cheaper today than they did back in November or December and done other things with their BTC in the meantime. So what gives?

Cypterium began trading around Jan 23 on etherdelta at 0.0002 BTC, double the ICO price. Traders began to take their profits then and ever since, the price has been steadily decreasing to the point where we are today, down 33%

Why are investors dumping their CRPT tokens on small exchanges and not waiting on the project to deliver?

After scouring the networks for some clues, I came up empty. There’s no material reason for any FUD surrounding Crypterium or any reason to sell other than impatience. As opposed to the traditional IPO investing world where investors expect 90 or 180 day lock periods on their investments for the opportunity to get in at bottom prices, there is a different mentality in general for your run-of-the-mill ICO investor. They are looking for big pops when coins hit exchanges and massive gains measured in multiples (e.g. 10-20X) within days or weeks. Many investors hardly do the diligence on projects, buy the hype, and pop in the telegram group with “When Lambo” memes periodically.

When Lambo

Why Crypterium is still a Long-Term strategic hold

Crypterium’s main goal is to develop their own cryptopayment infrastructure — a cryptobank with all of the traditional banking system features improved with blockchain technology. In this infrastructure you will be able to pay, borrow and transfer money (fiat and crypto), accept payments and many more.

Experts speculate that in the near future at least 10% of global GDP will transfer to cryptocurrency. To us this means the cryptocurrency market, according to experts I don’t care to site (DYOR), still has massive growth potential. We’re talking about growth to the tune of 15-20X when this happens.

Global GDP

The Cryptobanking sector, which has yet to have brought anything to the market, stands to grow at an even faster rate, as it stands essentially “untapped”. Cryptobanking offers many advantages over the legacy banking systems we have today and have no geographic limits.

Crypterium’s Ecosystem: both Payments and Outlets

Unlike some other projects such as TenX, Monaco, and others who focus only on payment services, Crypterium has 2 ecosystems: one for payment services and the other for their own payment outlets.

Crypterium’s ecosystem’s exclusive feature is that it allows unique payment schemes: crypto-crypto (when the outlet is willing to accept cryptocurrency) and fiat-crypto (when the customer pays in fiat money and the outlet receives cryptocurrency).

How does Crypterium work?

Image result for crypterium

Crypterium plans to take advantage of the pre-existing 42 million contactless payment terminals already existing in the world. They will use these to enable you to spend your crypto with your smartphone. This will allow retailers to receive fiat currency despite the user paying with crypto. Other benefits include instant transactions and cheaper commission rate than any bank currently offers.

Crypterium mobile banking
Crypterium mobile banking

Advantages of a blockchain based bank

  • Worldwide solution with no artificial country boundaries.
  • Faster and cheaper with transaction fees as low as 0.5%.
  • Cheaper and easier for making international transfers and payments.
  • Unrestricted transfer amounts.
  • Fast withdrawal and transfer of funds.
  • A decentralized network backed by smart contracts to verify all transactions.
  • Lower currency conversion rates.

Ending Note

There’s no doubt that if cryptocurrency goes mainstream, then cryptobanks will play a big role. The platform offers lower transaction fees than fiat options and makes exchanging crypto for payments much simpler. We’re in it for the long-haul on Crypterium. It should be a hell of a ride.

Hold on for dear life

Will Polymath be the Ethereum of Securities Tokens?

Polymath is a securities token platform that opens up the blockchain to legally compliant securities with lower transaction costs. Using blockchain and smart contract technologies, Polymath’s unique Security Token Standard Protocol (ST-20) enables securities issuers to create tokens backed by traditional financial assets like private equity, stocks, commodities, VC funds, real estate, royalties, and insurance.

Polymath is the first platform to enable truly legal ICOs in the form of securities tokens

Polymath – The Securities Token Platform

The Polymath platform is a tool that allows financial companies to create and issue their own tokenized assets.

At a high level, here are the main features of the Polymath project, as detailed in their whitepaper:

  1. Provides a decentralized protocol for trading security tokens.
  2. Enables individuals and institutions to authenticate their identity, residency,
    and accreditation status to participate in a wide range of security
    token offerings (STOs).
  3. Allows legal delegates to bid on new issuances to represent issuers on
    offerings to be done in a regulatory compliant manner.
  4. Matches issuers with developers who can translate issuers’ Security Offering
    parameters into secure code that generates ERC20 compatible tokens

Polymath is the first protocol platform that offers both KYC and legal compliance, which will be a massive value driver moving forward. Compared to Ethereum, Polymath is easier to use and also offers liquidity support, which ETH does not.

POLY Token Use Cases

Issuers: are able to post bounties in POLY tokens to encourage legal
delegates and developers to bid on providing services towards the issuance.

Developers: earn POLY for creating STO contracts. Developers are required to have these POLY fees locked up for a minimum of 3 months after a security token offering.

KYC Providers: pay a POLY fee to join the network. This fee is to identify legitimate KYC providers who can make this back in fees earned over time from investor verifications.

Investors: will be required to pay a POLY fee to KYC providers for verification.

For Legal Delegates: Legal delegates are able to earn POLY tokens by (i) proposing bids on security token issuances and (ii) being selected by the issuer to take responsibility for the issuance.

Polymath’s Team

Polymath has strong advisory board with backgrounds in blockchain technologie, large corporations, and financial institutions. The CEO, Trevor Koverko, is a silicon valley entrepreneur with a strong track record of successes.

Polymath Token: The Numbers

Polymath didn’t have a public ICO, but instead had an airdrop of 250 POLY per participant to expand the userbase beyond the private investors who first funded Polymath. 1,000,000,000 POLY tokens were pre-mined, and none more will be created moving forward.

The POLY token currently trades at around $1.00 (~$240M market cap), with a circulating supply of 239,570,250 and a total supply of 1,000,000,000 POLY. As of the time of writing, POLY is ranked #86 on coinmarketcap

Polymath to the Moon

Polymath is trailblazing an exciting future for security tokenization. If Polymath can use their first-mover advantage to become the major platform for large-scale financial institutions and corporate entities to tokenize their assets, the POLY token should exponentially rise in value. There is a good chance yet for Polymath to become the Ethereum of securities tokens.

To the moon

As they say, to the moon! – HODL

 

ICON (ICX): a blockchain network aiming to unite communities

ICON, a blockchain technology company from South Korea, is creating a decentralized network of blockchain communities that can freely transact with each other.

The ICON Blockchain

ICON is basically a giant network of networks that plans to connect them all instantly using a shared central ledger and the ICX token. Anyone can set up a “Community” or DAPP (Decentralized Application) on the ICON Network and freely interact with the other Communities and DAPPs.

icon token

ICON is focused on real world applications, something many other digital currencies (a.k.a. shitcoins) lacks.Image result for shitcoinIf a health insurance company submits a payment to a hospital on the ICON Network, the transaction would be overseen by the ICON Blockchain and paid in $ICX.

Alternatively, it could be automatically paid in some other currency using ICON’s decentralized exchange (“DEX”) to switch one currency for another on the fly.

 

ICON already has strategic partnerships with banks, hospitals, insurance companies, and universities in place to take these theoretical capabilities into the real world, giving the project an apparent leg up on most of its competitors.

icon-coin

ICON’s Global Outlook

No institution wants to compromise their autonomy for any of the advantages ICON provides, so ICON is built to ensure they don’t have to. Every Community and DAPP on ICON is independently managed, and free to choose their own currency, consensus algorithm, and other regulations.

A Bitcoin Community on the ICON network can still use Bitcoin within their Community but then switch to $ICX for transactions with other Communities on the network.

The freedom to define separate regulations for Communities also allows ICON to target the global market and be adapted to comply with regulations in different countries. Communities on ICON will follow their local regulations, with ICON simply acting as an inter-Community transaction facilitator.

The Numbers

The max supply of ICX tokens is 400,230,000. Half of those coins were sold in the ICO and the rest were distributed as follows:

  • 16 percent held in Reserve
  • 10 percent held by the ICON team, early contributors, and advisors
  • 10 percent held by strategic partners and community groups
  • 14 percent held by the ICON Foundation, the parent company of the project.

 

ICON (ICX)
4.00 USD (-4.67%)
0.00046593 BTC

RANK

21

MARKET CAP

$1.53 B USD

VOLUME (24H)

$41.26 M USD

 

There is no mining with ICX, but the available supply may be increased in the future as a result of annual C-Rep meetings. Community Representatives from the various Communities on the ICON Network may authorize up to a 20% increase in the ICX supply per year, although they are under no obligation to do so.

 

ICON’s Other Advantages

ICON wallets have access to a Decentralized Exchange (DEX) that facilitates currency transfers and exchanges without relying on public exchanges such as Coinbase or Bittrex. Most major cryptocurrencies are already available.

icon crypto

The ICON blockchain uses a Loop Fault Tolerance (LFT) consensus algorithm. This is an enhanced version of the Byzantine Fault Tolerance (BFT) algorithm that enables faster transactions while eliminating forks in the blockchain. It allows nodes to form groups to determine how many votes each participant receives.

Growth Potential

The ICX token has great potential if it becomes the standard unit of exchange for even one major industry. For example, if Korean hospitals adopt it to manage transactions with insurance providers, those transactions alone would account for billions of dollars in annual transactions.

 

ICON’s developers are highly focused on the token’s practical use. The project is also led by an impressive team of advisors, including Don Tapscott (author Blockchain Revolution) and Jason Best (Forbes top 10 most influential, 2017).

ICON still has a long way yet to go, but it has legs to change the current business paradigm, one industry at a time.

Proof of stake (POS) cryptocurrencies

HODL your Proof-of-Stake (PoS) coins to validate, and earn crypto by PoS coins.The PoS concept is straightforward and easy for anyone with a laptop to do as opposed to buying the mining hardware you can find in your typical bitcoin mining farm.

PoS coins are also interesting because there is a growing trend in cryptocurrency market towards PoS coins. Even Bitcoin’s impending Lightning Network upgrade seems to forebode a PoS-like system, even though the main Bitcoin chain will continue to rely on PoW.

Proof-of-Stake is a much newer proposed methodology for achieving distributed consensus. The viability of network’s relying on PoS are not achieved by mining but rather by staking. Staking, simply put, is just when users hold their PoS-compatibile cryptocurrencies in a specialized staking wallet.

Staking achieves the same effect of mining (distributed consensus) without the need for expending exorbitant amounts of computing power and energy.

And if you “stake” your coins, you’ll be rewarded with crypto payouts on a rolling basis just as if you were a mining “winning” a block.

 

I was introduced to this concept by staking NEO (The Chosen One).

NEO

NEO is interersting because it uses something called a delegated Byzantine Fault Tolerance (dBFT). Disregard how confusing that might sound at first glance, and just think of dBFT as kind of like an optimized Proof-of-Stake system.

 

Lisk

Like NEO, Lisk uses a different kind of PoS. Lisk’s distributed consensus methodology is called delegated Proof-of-Stake, or DPoS for short.

This means that while staking is possible with Lisk, it’s only possible for the top 101 “delegates,” with these delegates being voted on and agreed to on a rolling basis by the community.

So, not everyone can stake with Lisk. You’ll need to crack the top 101 delegates for that. But the project still uses an incredibly interesting PoS model.

And with Lisk being akin to Ethereum but built atop the programming language JavaScript instead of Solidity, its potential impending mainstream use could have its dPoS system getting increasingly popular in the years ahead.

Stratis

Stratis is a C#-based crypto project that mined its first PoS block earlier this year in May.

As the Stratis team declared triumphantly at the time:

“This is the first documented and tested instance of a Proof-of-Stake blockchain block mined in C#. Now the developers will combine the full node with the wallet layer developed for Breeze, our full node with PoS will then be ready for a test release in approximately a week from now.”

PIVX

PIVX is a project that forked off of the DASH blockchain last year and has, unlike DASH, fully transition to the PoS distributed consensus system.

PIVX holders have the perk of not having any minimum or maximum cap for staking, too, so you can stake any amount of coins you would like to. To this end, they take the opposite approach to Lisk: anyone and everyone can stake.

Stakers get an annual return of around ~4.8 percent with PIVX.

OKCash

OKCash is an older cryptocurrency project, having been started back in 2014. They’re one of the “OGs” of PoS, as it were, and the project is orientated toward being a micro-transactions throughway.

They’ve got a pretty impressive annual staking return of around ~10 percent. That’s among the best annual returns you’ll find among any PoS coin right now.

All you’d need to do is move your requisite OKCash into a specialized staking wallet.

Many projects are already moving toward PoS, even though it’s a distributed consensus methodology that still hasn’t been widely tested at present.

ETHEREUM

If Ethereum’s shift to Proof-of-Stake goes off without a hitch and proves successful, the dynamic of PoS coins having a small overall sliver of the top 100 cryptocurrencies by market cap in contrast to PoW coins should forever change, to the extent that that “sliver” should become something larger.

ETH’s so-called “Casper” update is what will initiate the crypto’s evolution to PoS. Once this is completed, ETH holders will be able to stake their funds for recurring “dividends” of ether.

Right now, it’s definitely not set in stone how many ether will be required to stake. Indeed, there has been several numbers casually thrown around the community in recent weeks, but to be clear: nothing’s official yet.

Some of these numbers have been as high as needing 1,000 ETH to stake. Some projections are as low as 10 ETH. Another number you hear a lot is 32.

But don’t worry if you’re not an ether whale. Eventually you should be able to pitch in even small amounts of ether into staking pools to partake in the new model.

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