Category Archives: Crypto Uses (Crypto Applications)
Update received from RIALTO.AI…
RIALTO.AI would like to thank everyone for participating in the November 2017 AMA Session on Reddit. With a help of our community, we are creating quality RIALTO.AI content, therefore we cordially invite you to take part in December AMA Session.
Q1: In order to receive a dividend payout you need to register your holdings at the Rialto website (If I correctly understand). So what happens to dividend payouts that belong to unregistered XRL tokens? Will these “unclaimed” dividends be added to the pool?
With the introduction of upgraded trading dashboard platform in Q1 2018, all XRL holders will have the ability to manage their proportionate share of the Digital Asset Pool by themselves. Moreover, every XRL holder will be able to verify XRL holding address and withdraw proportionate share of their assets at any time. The potential remaining funds will not be added back to the pool as they are a property of respective token holders and cannot be allocated to a third party as suggested in the question. Registration is, however, a necessary part of the trading dashboard for monitoring access and maximizing the safety of its users.
You are kindly invited to read the rest of the content in our latest Medium post.
Stani & Jordan Speaks in Paris at Blockchain Agora
First week after the successful token sale has been extremely busy time for the ETHLend team. The Founder of ETHLend Stani Kulechov and the Head of Token Sale Martin Wichmann participated in the largest blockchain event in the Nordics, MoonTec. Stani was speaking on Developing Financial Smart Contracts on Ethereum.
In Berlin, Head of Management Jordan Lazaro Gustave and Head of Corporate Strategy Kersten Schütze were presenting ETHLend in TechCrunch Disrupt, where lot of VCs were amazed of our disruptive application.
On Thursday, Stani and Jordan speaks in Paris at Blockchain Agora, which consists of blockchain and banking professionals from France. We are looking forward to Paris.
New Application Development Updates
ETHLend is working hard to develop, test and deploy the latest changes that the team is implementing to the decentralized application. Additionally, ETHLend reached the Q4 2017 milestone: Fiat-based loans and instalments! Here are the new functions and features ETHLend is currently working on:
1. New milestone: FIAT-based loans – Users can choose USD as the base currency instead of following the Ethereum price. Therefore, the borrower does not suffer from volatility upon repayment of the loan, when the borrower is repaying the loan with FIAT earned income. The USD/ETH rate is provided by Oraclize.it.
2. New milestone: Instalments – Users can select to pay the loan back in instalments, for example every week, once a month, or other specified frequency. This feature is available for loans that are maximum of 1 year length. Penalty of 2% of the loan capital shall be charged and paid to the lender in case the borrower does not repay accordingly to the instalment plan (Penalties feature is further developed on Q2 2018 accordingly to the roadmap).
3. Basic collateral management – Users must pledge 150% collateral. If the collateral drops in value to 100%, the lender has the option to call (claim) the collateral to further realize it in an exchange to regain any losses. The collateral price function is performed with the use of Oraclize.it.
4. Pre-accepted collateral tokens – Collaterals are limited to top 100 liquid ERC-20 tokens from the coinmarketcap. Therefore, the users do not need to insert token contract address and token name, which makes it more easier to place a loan request and avoid the issues related to placing the wrong address.
5. Reputation based lending and CRE removed until KYC/Civic addon is applied during 2018.
6. Small user experience upgrade – We are removing steps on placing the loan request from 5 steps to 2 steps → Place a loan request and send tokens. Moreover, Auto Refresh function is added where necessary to make the user experience more pleasant.
The loan book became quite active after the token sale. However, to avoid spam loans or unnecessary defaults, ETHLend will provide these updates this month, to make the lending experience more successful for the lenders and borrowers. After these updates, ETHLend is back on mainnet and lending is live.
For more technical questions refer to us in Telegram!
EOS.IO Dawn 2.0 has been released along with a public test network which will be maintained by the block.one team. This release provides an Alpha implementation of most of the remaining features described in our Roadmap for Fall 2017 and originally targeted for completion by December 21, 2017. As published in our Roadmap, “Phase 2 – Minimal Viable Test Network” was to demonstrate the following by Fall 2017:
P2P Network Code
Wasm Sanitation & CPU Sandboxing
Resource Usage Tracking / Rate Limiting
Genesis Import Testing
At this time, we have the achieved the initial implementation of most of these features; however, due to parallel development paths our implementation of Inter-Blockchain Communication exists on a separate branch that will not be used for the initial test network.
Those interested in performance-testing our EOS.IO Dawn 2.0 release will find that all blockchain and network code necessary to launch and operate a private network can be found in our GitHub repository. Our internal testing shows we can sustain several thousand transfers per second and 1 second blocks using our single-threaded implementation on average hardware. That said, there are known attack vectors for which we have unimplemented solutions. For example, compilation of new contracts for the first time can take up to 34ms, which if exploited could cause the network to fragment at transaction rates over 30 TPS.
Our solution for this issue is to place limits on the frequency with which contract code can be updated, as well as a time delay between when code is updated and when transactions using that new code can be processed. This time delay will be on the order of 60 seconds to allow all block producers time to compile/cache the optimized x86 instructions from the web assembly.
Because of these outstanding attack vectors, performance testing will remain a task for private test networks, but feature testing can now be performed on a public test network which we are artificially limiting to 30 TPS to ensure uptime and access.
Over the next 6 months, we will be continuously testing and debugging the network to improve stability and performance.
New Features in Dawn 2.0
Genesis Import Testing
We have implemented a snapshot tool that will import initial state based upon the EOS ERC-20 token distribution on the Ethereum network. Our test network will only include balances which registered a valid EOS public key. About 20% of ERC-20 tokens have been properly registered to an EOS public key. Our snapshot tool also implements a fallback tool for all unregistered ERC-20 tokens held by an Ethereum account for which we can recover a public key from signed ethereum transactions. This covers 99% of all EOS ERC-20 tokens, but will require importing your Ethereum private key into your EOS.IO wallet.
For security purposes, our test network will not ask users to import their Ethereum private keys recovered via the fallback process. If your EOS private key is compromised while testing, you can always register a new key on the Ethereum network.
We have also implemented a “faucet” facility to allow testing of the network by those who do not hold tokens or have not yet registered a valid EOS public key.
Resource Usage & Rate Limiting
We have implemented basic rate limiting and resource usage tracking. This tracks bandwidth, database storage, and computational usage. At this time there are some known bugs with our rate limiting algorithm, but nothing that should interfere with testing and developing of applications.
We know that many people have been asking for more information about how rate limiting will operate, who will be billed, and how they can lease their staked tokens for income.
All transactions consume some of the maximum network bandwidth as configured by the block producers. All accounts whose authority is required for the transaction will have their 3-day average bandwidth incremented based upon the size of the transaction. Bandwidth will require the authorizing account (not the contract) to have staked tokens or to be delegated staked tokens by the application provider.
All transactions consume some computation. Computation can be executed in parallel, so it can be viewed as a multi-lane highway with each lane having different congestion. Each scope (lane) will have its own independent rate limit and a user will be billed O(S^2) for the number of simultaneous scopes (lanes) requested and rate limited based upon the most congested scope.
EOS.IO contracts have access to an in-memory database where they can store application state. The contract is billed based upon the total data they store plus a constant overhead factor for each independent database entry. This in-memory database is independent and separate from the EOS.IO Storage protocol for decentralized bulk hosting and storage.
P2P Network Code
We have a basic implementation of mesh network code that is being demonstrated by our public test network. Block.one is operating 21 independent servers each with one of the initial producers configured.
EOS Dawn 3.0
EOS Dawn 3.0 will re-introduce horizontal scaling of single chains and infinite scaling via secure inter-blockchain communication. With these two features there will be no limit to what can be built on blockchain technology, nor for how decentralized the network of blockchains can become.
Infinite Scaling and Infinite Decentralization
The holy grail of blockchain technology is to enable secure communication between two independent blockchains without requiring both blockchains to validate everything on the other blockchain. This requires making one blockchain a light-client of another blockchain.
Light clients authenticate transactions using only the block headers and merkle proofs. EOS.IO will be the first proof-of-stake protocol with support for light client validation. More importantly, it will be the only one capable of generating proof-of-completeness. This means it will be possible to prove you have received all relevant prior messages from another chain in order without having a waiting/challenge period.
Whereas traditionally light clients have to process all block headers, EOS.IO will enable light clients that only have to process block headers when producers change or when a new message is required from a more recent block. This will enable efficient infrequent communication between chains along with frequent communication. In the worst case, the overhead of two blockchains communicating every 500 ms will be about 2 transactions per second above the total number of messages sent.
Under this model, the communication will be secured so long as at least ⅓ of producers are honest. Furthermore, if even one producer is corrupt they can be automatically punished if they sign any message that could potentially corrupt a light client (aka foreign blockchain).
Lastly, the round-trip time for communicating to another blockchain depends upon the latency until irreversibility of each chain. An EOS.IO based chains will be able to send a message to a foreign EOS.IO chain and get a cryptographically verified response in under 3 seconds.
This level of interchain communication and security enables the creation of two-way pegs between chains with very low latency. While the two-way peg is the most obvious example, any business-to-business communication can be performed using this same method.
Public / Private Communication
With interchain communication it will be possible for private blockchains to have secure two-way communication with public blockchains. This enables all kinds of blockchain applications which are not well suited to the public nature of traditional blockchains. For example, someone could create the Swiss-Bank of blockchains that is super secret to everyone but the bank owners and the individuals.
In order to deliver our public test network, we divided our development into two parallel paths so that we could refactor significant portions of our code for readability, performance, and inter-blockchain communication. This refactoring work has been occurring in the eos-noon branch.
In past updates we indicated our intention to focus on shared-memory architectures so that developers could easily perform synchronous read-access and atomic transactions with other contracts. The consequence of this approach was a loss of horizontal scaling beyond a single high end machine.
With EOS Dawn 3.0 we will be restoring the ability to do multi-machine horizontal scaling by use of up to 65,000 different regions. All regions will share the same accounts and contract code, but have independent in memory databases. Contracts within one region must use asynchronous transactions to communicate with their counterparts in other regions. With this architecture a single block producer could be implemented as a cluster.
Working Integration with Apple’s Secure Enclave
In our last update we announced our intention to support the same elliptic curve as used by Apple, Android, and many smart cards. Our eos-noon branch now includes a fully functional proof-of-concept where messages are signed and verified using Touch ID (and also Face ID) on the latest MacBook Pro’s. Similar code also works on native iPhone applications. This means that EOS.IO based mobile applications will be among the most secure blockchain wallets known.
Furthermore, the eos-noon branch has now integrated this support for multiple signature types which means it is possible to use secure enclave to sign transactions which will be validated on eos-noon.
500 ms Block Confirmation
On our eos-noon branch we have implemented a number of changes to the underlying DPOS framework to support 500 ms blocks (2 blocks every second). This change will dramatically increase the responsiveness of decentralized applications. To achieve this we have introduced some changes in how block scheduling occurs.
The same producer will now produce 12 blocks in a row before handing off to the next producer. This solves the single biggest bottleneck on block production which is producer-to-producer handoff. Under the new structure unexpected latency may cause a few blocks to be missed, every time there is a hand off, but between handoffs there should be very fast confirmation. We will be experimenting with different hand-off periods. The longer the handoff period the fewer missed blocks during normal operation, but the longer the outage will be if a single node goes down. With 500ms and hand off every 12 blocks, the “down time” is no worse than when a single producer misses a single block on Steem and BitShares. In this event it could take 6 seconds for first confirmation.
Removing Runner Up Producers
Inter-blockchain communication requires light clients to keep track of all blocks where the set of active producers changes. The “runner up producer list” causes a new producer to be added or removed every minute which forces light clients to process at least one block header per minute, if not more. In order to reduce the frequency of producer set changes we have changed block scheduling to only include the top 21 producers. We are considering offering some kind of stand-by pay for the runner ups, but they will not actually be tasked with producing blocks.
One Second Irreversibility
Every block producer will sign every block which will enable a block to be marked irreversible as soon as ⅔+ producers have signed it. Producers are only allowed to sign one block header per block height. This means that in the event of a fork producers cannot sign blocks at the same height on both forks. Any such a signature will be cryptographic proof of misbehavior of a producer which can be dealt with by a number of methods including, automatic loss of producer position, potential loss of bond, and potentially liability for damages under arbitration.
Unlike other protocols which gather ⅔+ signatures before the next block can be produced, EOS DPOS does optimistic pipelining that allows the blockchain to advance in “pending state” while the signatures are gathered. These additional signatures occur outside the blockchain and can be pruned after a block becomes irreversible under traditional DPOS rules of Steem or BitShares.
Under this model, it is possible to achieve byzantine fault tolerance because it is impossible for any block to receive ⅔+ signatures without cryptographic evidence of the byzantine nodes.
Removing Producer Schedule Shuffling
In order to minimize the number of missed blocks during producer handoff, it is desirable to minimize the latency between consecutive producers. If a producer in New York is scheduled to follow a producer in China it may take 250ms to receive a block under normal conditions (50% of block interval) and potentially much longer if there is network congestion. A producer in New York and Texas on the other hand would only have 50ms of latency (10% of block interval). This means there is a significantly lower probability of missing blocks during a handoff from New York to Texas than from New York to China.
If we schedule block production such that it rotates from New York, to Texas, to California, to Hawaii, to Japan, China, India, Israel, Italy, England, Island, and back to New York then there is never a hand off of more than 50 to 100ms. However if the order is randomized then the average hand off will be significantly higher.
Producer shuffling was introduced to minimize the potential of one producer to pick on a subsequent producer. This risk was in a world where producers were presumed to be potentially malicious, but in the world of highly vetted, public, producers with high quality data centers it no longer makes sense. There is a constitution and expected level of behavior along with a process of resolving disputes in the event one producer intentionally harms his neighbor.
Under EOS the producers will vote on the production rotation order in a way that minimizes average latency and minimizes total missed blocks due to Internet network congestion.
There are a number of known issues with EOS Dawn 2.0 and it is expected for there to be significant instability with this early release. The purpose of this release is to demonstrate a basic capability and our team will be ironing out the bugs, improving stability and performance over the the next 6 months.
In order to support stability of the test network, we have disable producer voting.
We would like to thank our development team for working around the clock and around the globe to build and deliver EOS Dawn 2.0, an alpha version of what will become the most robust, highest performance, most decentralized application platform available. We are executing according to our published roadmap and delivering more features and capabilities than originally planned. We look forward to 2018 and are confident that all features will be complete and bugs resolved by the time the EOS token distribution is concluded.
Status will foster the public Ethereum blockchain by joining the EEA, the world’s largest open-source blockchain initiative
ZUG, Switzerland, December 4, 2017 – Status, the first ever mobile Ethereum client built entirely on peer-to-peer technologies, is announcing that it has joined the Enterprise Ethereum Alliance (EEA), the world’s largest open-source blockchain initiative. With membership across the Fortune 500, enterprises, startups, research facilities, and even governments, the EEA’s mission is to enhance the privacy, security, and scalability of Ethereum-based blockchain technologies.
Following a successful token sale of SNT raising more than $100M in ether in less than 24 hours, Status is currently in development. Status is an open source mobile platform that serves as a gateway to decentralized apps (DApps) and services built on Ethereum. The base offering enables access to encrypted messages, smart contracts, digital currency, and more.
The early-stage startup is a passionate open-source project committed to the public blockchain. Status’ goal is to partner across the EEA membership roster to ensure the promise of Ethereum is tangible for billions of people. Playing a leading role in improving the user experience to interact with Ethereum, Status will cultivate relationships and leverage resources that drive the development of open-source standards for the public Ethereum blockchain.
Alongside leading global enterprises and startups in the EEA, Status will help to drive a clear roadmap, robust governance model, and useful Ethereum resources. As participation continues to grow, Status involvement in the EEA is an important strategic initiative that will support the decentralization movement and the shared vision of a world where blockchain-based technology is in the hands and smartphones of people around the world on a massive scale.
“Status is committed to decentralization and joining the EEA is a unique opportunity to help traditional enterprises that are often challenged by a deep legacy of investment in centralized systems,” said Carl Bennetts, Status Co-Founder. “We hope our combined efforts with all of the EEA organizations will quicken the pace of development and new tech adoption to make Ethereum accessible for all.”
The team recently announced a new COO from Google, development of Status Hardwallet for wireless transactions using NFC, and Status Open Bounty, a new open bounty fund. Pledging a commitment of $1M to aid open source projects, Status is already bringing together developers and organizations, demonstrating commitment to open source.
Learn more by reading the Status whitepaper or join the Riot channel to stay up to date about Status, Ethereum, and the EEA.
Aruba aims to become the first blockchain based island nation with the help of Winding Tree and ATECH Foundation
Winding Tree, the blockchain-based travel distribution platform, and ATECH Foundation, enter a strategic partnership to innovate Aruba, making it the first island nation to offer its travel inventory on the blockchain
Zug, SWITZERLAND, December 2017 –– Winding Tree, the blockchain travel company, and ATECH Foundation, the driver behind Aruba’s tech hub, announce today a partnership to make Aruba the first island nation to fully integrate and adopt blockchain-based technology. Over the past three decades, Aruba has been exceptionally successful at spurring its economy through tourism and is known as an island that is not afraid to test new technologies, particularly in the travel and tourism sector. Winding Tree’s platform will migrate Aruba’s travel industry onto the blockchain, an integral key in bringing into the digital era.
The Aruba Tourism Authority and the Aruba Airport are both known leaders in their sectors. Winding Tree, which made a splash in the crypto world about a month ago after announcing a partnership with Lufthansa, will work with ATECH to accelerate the widespread adoption of blockchain in Aruba. Winding Tree’s platform replaces excessive fees and monopolies, which will make travel to Aruba cheaper, faster, and more enjoyable for consumers, as well as profitable for travel providers.
There is a big problem in the online industry today, as two companies, Priceline and Expedia, currently dominate the industry. Due to their strong market power, prices are controlled in their favor. The high distribution fees force hotels and airlines to offset the costs, shifting the burden of paying these high fees onto potential customers. The dominance and interference of these intermediaries is stifling not only the expansion of travel innovation startups, but also is hindering the ability of consumers to find fair and affordable travel deals. Winding Tree’s blockchain-based travel platform makes travel more accessible and cheaper to the traveler and the travel provider, removing any high fees these third parties impose.
The partnership between Winding Tree and ATECH will help expedite the adoption of this new technology platform in Aruba. This rings in a new era of innovation for Aruba, which will set the tone for the rest of the Caribbean. The island’s Central Bank is also one of the driving forces of inclusive digital transformation. Breakthrough technologies like artificial intelligence, blockchain and crypto are part of the island’s integrative innovation agenda.
“As an award-winning digital destination, travel innovation and adoption of efficient technologies will always be at the forefront of our goals as a Destination Marketing and Management Organization (DMMO),” said Ronella Tjin Asjoe-Croes, CEO of the Aruba Tourism Authority, “We encourage our stakeholders to adopt and experiment with new technologies so we can always stay two steps ahead. We are eager to test blockchain in Aruba and are following the developments in this space closely.”
“We are absolutely thrilled to be working with ATECH to bring about the widespread adoption of blockchain technology in Aruba,” said Pedro Anderson, COO and Founder of Winding Tree, “We already know the value that blockchain based travel will bring to consumers and travel providers. Our partnership shows the incredible effects (increased revenue, tourism, savings, etc) that blockchain could have on an entire country.”
“As a blockchain advocate, I am excited about the possibilities this partnership brings for my island ” said ATECH Co-founder and policy advisor, Varelie Croes, “Aruba’s economy has one of the highest economic dependence on tourism in the world. Imagine the socio-economic impact blockchain can have on this country, if done right. The savings and increased revenues are just a drop in the bucket compared to the acceleration of inclusive digital transformation. Winding Tree can help transform small island economies with their open-innovation platform and we are happy to be a catalyst for this movement.”
“ATECH understands the importance and value of moving Aruba’s travel inventory to the blockchain, and has teamed up with Winding Tree to make travel cheaper and more efficient for both providers and consumers in Aruba.”, says Tristan Every, ATECH Co-Founder.”
The partnership between Status and SIRIN LABS aims to speed the mass adoption of blockchain technology by offering the first holistic mobile experience.
December 2017 – Status, the first ever mobile Ethereum client built entirely on peer-to-peer technologies, is partnering with SIRIN LABS, the creator of the world’s most secure everyday blockchain phone, in order to bring the first complete blockchain mobile experience to the market next year. Status will come pre-installed in deep integration on FINNEY, the first open source, secure smartphone and all-in-one PC, that runs on a fee-less blockchain. This integration will allow the ability to use Finney and Status token in a seamless way.
Following the successful SNT token sale, raising more than $100M in ether in less than 24 hours, Status is currently in development. It is an open source mobile platform that serves as a gateway to decentralized apps (DApps) and services built on Ethereum. The base offering enables access to encrypted messages, smart contracts, digital currency, and more. Status will be pre-installed on FINNEY and the browser will provide access to a world of DApps. The integration of Status in the FINNEY family of devices offers a truly decentralized experience on the blockchain.
SIRIN LABS offering the only smartphone in the world that’s fully secure and safe enough to hold cryptographic coins, equipped with a cold storage crypto wallet. FINNEY devices will form an independent blockchain network, that is based on a distributed ledger that is scalable and lightweight, powered by IOTA’s Tangle technology. It will be free of centralized backbones or mining centers, and capable of providing fast, fee-less, and secure transactions.
”We have a commitment to the open source community to bring this technology to market,” said Carl Bennetts, Co-Founder of Status. “We will continue to partner with leaders in the space to drive the development of Ethereum-based innovation forward, and ensure it makes it to the smartphones of people around the world.”
“Our goal is to standardize blockchain technology while maintaining a simple and friendly user experience,” says Moshe Hogeg, Founder and CEO of SIRIN LABS. “Blockchain trade and cross platform experience is anything but seamless these days. Together with Status, and additional strategic partners, we will develop a secure open source OS to connect between tokens and allow those transitions to be completely seamless and feeless to the user, which will speed the mass adoption of the technology.”
Veritaseum Update: Q&A plus VeADIR P2P Capital Markets Nears Launch
Source: Reggie Middleton
Aventus Weekly Update #11: Hello everyone. This week we are introducing our new blockchain engineer, Vincent, we will also be giving you an update on the exchange listings and discussing our YouTube video, which will be out tomorrow.
- Exchange listings
- Meet Vincent! Our new blockchain engineer
- YouTube Teaser
Be sure to read more at the source: Aventus Medium
Welcome to the third of our ‘Developer Diaries’, keeping you informed about the progress of Reality Clash and the latest updates from our developers on the game.
For this developer update we wanted to focus on how we’re prototyping different approaches of blending the real and virtual worlds together.
RIALTO.AI AI TRADE BOT LAUNCH
RIALTO.AI is developing an AI trade bot that takes into consideration both long and short positions in cryptocurrencies to create the highest possible risk-adjusted returns. The development of the AI trade bot has begun with collecting historical data for multiple cryptocurrency pairs from the most mature and liquid exchanges.
Next, we have developed a rigorous back-testing framework, which allowed us to test market hypotheses and trading strategies. We analysed the patterns and dynamics of cryptocurrency markets using the framework and the historical data. Besides finding similarities within the traditional financial markets, we applied advanced data-processing statistical techniques to search for patterns in cryptocurrency markets.
After a couple of months of thorough analysis and testing,
These basic, but necessary steps, will allow us in the future to include more advanced machine learning techniques (combining multiple models with ensemble learning and meta learning, and time-series analysis with deep learning), and this way to achieve the overarching goal of creating a true self-learning AI trade bot.
RIALTO.AI at FinTech Connect Live! 2017
RIALTO.AI will be present at this year’s “UK’s largest meeting place for the fintech community”, FinTech Connect Live 2017 in London. FinTech Connect Live is that kind of ecosystem event that connects start-ups, incumbent tech providers, traditional financial institutions and the investor community.
In this two-day event at the ExCeL London, RIALTO.AI will be exhibiting to present its blockchain and cryptocurrency solutions, furthermore, our Project Manager, Vito Martin Hrzenjak, will speak about whether The Crypto Finance is a fad or a New Financial Dimension. Any candidates are welcome to join the event: free Expo Passes are available here.
XRL Token Listed on Yobit
Since November 25, RIALTO.AI XRL can be purchased on Yobit.