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Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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Why i’m bullish on Zilliqa (long read)

Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analysed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralised and scalable in my opinion.
 
Below I post my analysis why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, secure and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in amount of nodes. More nodes = higher transaction throughput and increased decentralisation. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue disecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as:
“A peer-to-peer, append-only datastore that uses consensus to synchronise cryptographically-secure data”.
 
Next he states that: >“blockchains are fundamentally systems for managing valid state transitions”.* For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (>66%) double spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT etc. Another thing we haven’t looked at yet is the amount of decentralisation.
 
Decentralisation
 
Currently there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralised nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching their transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public.They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers.The 5% block rewards with an annual yield of 10.03% translates to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS & shard nodes and seed nodes becoming more decentralised too, Zilliqa qualifies for the label of decentralised in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. Faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time stamped so you’ll start right away with a platform introduction, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behaviour are different things and should be separated to ensure their clarity.”
 
Scilla is on the functional side and shares similarities with OCaml: > OCaml is a general purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognised by academics and won a so called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities safety is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa for Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue:
In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships  
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organisations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, AirBnB, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are build on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”*
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They dont just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities) also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiatives (correct me if I’m wrong though). This suggest in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures & Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

US digital dollar coming soon? Chainlink, Swift, Federal Reserve, ISO20222, and The Clearing House serving as pieces of the puzzle.

This is my first Reddit thread, so please feel free to contribute your thoughts.
I believe the US digital dollar will be making its debut very soon, which could very well likely be the next One World Currency. I've included a timeline of public releases/announcements that fall in line with my theory. Bear with me, there are lot of moving parts.... There may be some details or insights missing so please feel free to enlighten. I believe this will, in time, lead to a New World Order with one global currency. I would like to be proven wrong.
First things first, there are 3 big players: The Federal Reserve, The Clearing House, and SWIFT with ISO20222 system.
Who is The Clearing House group? Conglomerate of many LARGE banks. Source: https://www.theclearinghouse.org/about/owner-banks
What is CHIPS? The Clearing House Interbank Payments System (CHIPS) is an electronic payments system that transfers funds and settles transactions in U.S. dollars. CHIPS enables banks to transfer and settle international payments more quickly by replacing official bank checks with electronic bookkeeping entries. As of January 2002, CHIPS had 59 members, including large U.S. banks and U.S. branches of foreign banks. Source: https://www.newyorkfed.org/aboutthefed/fedpoint/fed36.html
What is ISO20222? From Swift itself, "ISO 20022 is an emerging global and open standard for payments messaging. It creates a common language and model for payments data across the globe."Source: https://www.swift.com/standards/about-iso-20022
July 16 2018, Federal Reserve Proposes ISO 20022 Message Format for Fedwire Funds Service. 3-step Phase integration of CHIPS & Fedwire. Source: https://www.sullcrom.com/files/upload/SC-Publication-Federal-Reserve-Proposes-ISO-20022-Message-Format-for-Fedwire.pdf
Timeline of 3-step phase model infographic: https://imgur.com/XaNUcR3
July 19 2018, Assocation of Financial Professionals confirms above with article: NY Fed creates group to consider adopting ISO20222: "In 2012, the New York Fed formed a stakeholder group to assess the value in adopting ISO 20022. This led to the 2015 Strategies for Improving the Payment System paper, in which the Fed recommended that the U.S. develop a strategy for adopting the standard. Since that time, the Fed and The Clearing House (TCH) have worked together on plans to adopt ISO 20022 for Fedwire and CHIPS. While they have each opted to implement the standard separately, the Fed and TCH plan to align the implementation of the new format on Fedwire and CHIPS." Source: https://www.afponline.org/ideas-inspiration/topics/articles/Details/fed-seeks-comment-on-iso-20022-fedwire-proposal
Nov 20 2019, The Federal Reserve is looking into developing a digital currency in the US, Powell confirms. Source: https://markets.businessinsider.com/news/stocks/the-federal-reserve-is-looking-into-developing-digital-currency-us-2019-11-1028705211
Nov 25 2019, Coinbase Chief Legal Officer argued private corporations are best positioned to build a much-debated digital U.S. dollar, and that the government should stand back and let them, doing little, if anything, to regulate their underlying blockchains. Source: https://www.coindesk.com/coinbase-legal-chief-says-private-sector-should-build-us-digital-dollar
Jan 16 2020, Former CFTC chair launches US digital dollar research project. https://www.businesswire.com/news/home/20200116005116/en/CFTC-Chair-Launches-Digital-Dollar-Project
Feb 6 2020, Federal Reserve researching US digital dollar (CBDC- Central Bank Digital Currency) application. Source: https://www.coindesk.com/fed-reserve-is-researching-dlt-based-digital-dollar-says-governor
Feb 20 2020, "To give consumers more control over their data, FMR LLC, the parent company of Fidelity Investments, today announced the spin-off of Akoya℠ as an independent company that will be jointly owned by Fidelity, The Clearing House Payments Co. and 11 of its member banks. Bank of America, Capital One, Citi, FMR LLC, the parent company of Fidelity Investments, Huntington National Bank, JPMorgan Chase, KeyBank, PNC Bank, The Clearing House Payments Co., TD Bank, Truist, U.S. Bank and Wells Fargo & Company, are the new owners of Akoya." Source: https://www.theclearinghouse.org/payment-systems/articles/2020/02/02-20-2020-financial-industry-give-consumers-more-control-over-their-data
March 16 2020, Coinbase Chief Legal Officer begins to work at NY Fed: "Coinbase's chief legal officer, Brian Brooks, is leaving the crypto exchange to become the second in command at the U.S. Office of the Comptroller of the Currency (OCC)". Source: https://www.coindesk.com/coinbase-chief-legal-officer-leaves-to-take-senior-role-at-us-bank-regulator
March 2020, 2020 SWIFT attempting to bring entire banking payment processing industry to IS20222 standard: "In line with that vision, SWIFT is fully committed to improving transaction data quality through ISO 20022 and will continue to accelerate industry support to adopt ISO 20022 for market infrastructure initiatives, including TARGET2 migration/ESMIG, EURO1 and Bank of England RTGS renewal. .... The end-date to enable full ISO 20022 for cross-border payments remains as originally planned, November 2025." https://www.swift.com/standards/iso-20022-programme/timeline
March 20 2020, Fed-backed digital dollar to be well received by crypto-community with digital dollar being viewed as compliment, rather than a competitor to bitcoin. Source: https://www.marketwatch.com/story/bitcoin-enthusiasts-liberal-lawmakers-cheer-a-fed-backed-digital-dollar-2020-03-30
March 23 2020, COVID 19 pandemic leads to Stimulus Bill which includes proposed digital wallets for Stimilus Bill moneys to be distributed to people who do not have bank accounts currently. Ultimately, the digital wallets section was not included in signed bills but likely will resurface again shortly. Source: https://cointelegraph.com/news/in-covid-19-stimulus-us-congress-eyes-digital-dollar-to-send-aid-to-the-unbanked
March 30 2020, Bitcoin enthusiasts, liberal lawmakers cheer a Fed-backed digital dollar. “My legislation would allow every American to set up a free bank account so they don’t have to rely on expensive check cashers to access their hard-earned money,” Sen. Brown told the American Banker. While a digital dollar didn’t make it into the final stimulus legislation, that it concept is now being taken seriously by high-profile lawmakers in Washington is another signpost on the road to a digital-money future, said Carlos Domingo, CEO of Securitize. “The question is not if a digital dollar will be created but when and how.” Source: https://www.marketwatch.com/story/bitcoin-enthusiasts-liberal-lawmakers-cheer-a-fed-backed-digital-dollar-2020-03-30.
April 5 2020, NetCents Declares Readiness for Expected US Federal Reserve "Digital Dollar". Source: https://yhoo.it/34jPL0d
April 8 2020, Marion Laboure, Macro Strategist of DeutscheBank just tweeted this. Confirmation of Big Banks making big moves. One world currency coming soon by 2025? Source: https://twitter.com/MarionLaboure/status/1241316697128214529?s=20
The Clearing House will soon launch Secure Token Exchange (STE), a service to manage token issuance and authentication for mobile and ecommerce transactions. Source: https://www.theclearinghouse.org/payment-systems/secure-token-exchange
The Clearing House confirms their new RTP network through job posting on The Clearing House career website that's aim is to provide instant access to ALL account holders inUS. From their job listing: "The The RTP® network from The Clearing House is a real-time payments platform that all federally insured U.S. depository institutions are eligible to use for payments innovation. "The goal of the system is to ultimately provide access to instant payments to every financial institution and account holder in the US. To achieve this goal, significant enhancements and expansion of the system will occur over the next 3-5 years in order to support over 10,000 financial institutions. Qualifications Desired: Money transfer experience, especially knowledge of SWIFT, FED or CHIPS payment processing and settlement" This is stated in current job opening listed under "RTP Senior Developer" at The Clearing House. Source: https://www.theclearinghouse.org/about/careers/rtp-senior-developer. Screenshot of position in case this link dissappears: https://imgur.com/wr2Zoap
submitted by DanielGONZZZ to Chainlink [link] [comments]

OCC Seeks Public Opinion On Possible Crypto Regulations

OCC Seeks Public Opinion On Possible Crypto Regulations

The Financial Regulator Requests Public Comments On The ‘Advance Notice Of Public Rulemaking’ (ANPR) Until August 3, 2020
While the crypto world is seeing increased daily trading activity, lawmakers hurry to get their legislations right. The U.S Office of the Comptroller of the Currency (OCC) posted two issuances, which are available for public discussion. The two proposals, titled Notice of Proposed Rulemaking (NPR) and Advance Notice of Proposed Rulemaking (ANPR), are aimed at modernizing the rules and requirements for banks in the modern economic situation.
Furthermore, ANPR seeks to boost the evolution of the traditional federal banking system, enabling it to be a support for businesses, consumers, and communities.
The proposals include updating or removing existing CFR 7 regulatory requirements, which became outdated due to the advancements in modern economy and finance. Regarding the crypto sector, the OCC is aiming its efforts in “activities, which are related to cryptocurrencies and crypto-assets, as well as the obstacles for mass adoption of crypto assets by banks and institutions.”
The ANPR is aimed at further developing NPR in the field of clarifying any misunderstandings during the public commenting stage.
Meanwhile, the two Notices describe that the adoption of crypto-related products and services by the U.S. population has increased.
“The first-ever cryptocurrency was born in 2009. Nowadays, over 1,000 cryptocurrency projects compete for a piece of the crypto market. Around eight percent of the Americans actually own cryptocurrencies.”
The OCC also noted that the introduction of PayPal in 1998 proliferated the mobile banking industry, as “49 percent of the Americans bank on their mobile phones, and 89 percent of the Millenials only use mobile banking.”
“Also, artificial intelligence (AI), machine learning, cloud computing, and other 21st-century technologies, are seeing mass adoption in the banking sector.”, the OCC stated.
The Notices impose questions about the usage of distributed ledger technology by banks and other financial institutions in terms of identity verification, monitoring, payment processing, as well as records management.
The U.S. OCC recently got support from the ex-General Counsel of crypto exchange Coinbase Brian Brooks. Brooks now operates as an Acting Comptroller from his former role as the Chief Operating Officer of the OCC. The role switch means Brian Brooks is now leading the OCC, which regulates the largest banks in the United States.
One of Brooks’ former ideas is to develop a national charter for payment providers like Stripe and PayPal.
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]

[Part - 39] Large college ebooks/eTextbooks thread for cheap rates [$4 to $25]

  1. Spanish Decorative Ironwork by Luis Labarta
  2. Decorative Iron and Metalwork by R. Goodwin-Smith
  3. 1920s Fashions from B. Altman & Company by Altman & Co.
  4. "Precious Stones by Vol. 1" by Max Bauer
  5. Old-Time Men and Women Vignettes in Full Color by Carol Belanger Grafton
  6. The Book of Diamonds by Joan Y. Dickinson
  7. Decorative Antique Ironwork by Henry R. d’Allemagne
  8. Those Were the Days: Weird and Wacky Ads of Yesteryear by Floyd Clymer
  9. A Short History of Costume & Armour by Francis M. Kelly
  10. The History of Underclothes by C. Willett Cunnington
  11. Iron Horses by E. P. Alexander
  12. Early American Decorating Techniques by Mariette Paine Slayton
  13. "Ancient Egyptian by Mesopotamian & Persian Costume" by Mary G. Houston
  14. Men's Fashion Illustrations from the Turn of the Century by Mitchell Co.
  15. American Silversmiths and Their Marks by Stephen G. C. Ensko
  16. Ornamental Ironwork by A. Durenne
  17. The Corset and the Crinoline by W. B. Lord
  18. Ancient Carpenters' Tools by Henry C. Mercer
  19. Victorian Fashion in America by Kristina Harris
  20. Full-Color Sourcebook of French Fashion by Pauquet Frères
  21. Rings for the Finger by George Frederick Kunz
  22. Whitman Encyclopedia of U.S. Paper Money by Q. David Bowers
  23. Making Costume Jewelry: An Easy & Complete Step by Step Guide by Janet Evans
  24. Old Car Detective by Bill Sherk
  25. Bicycles by Archibald Sharp
  26. Early Motorcycles by Victor W. Page
  27. 80 Godey's Full-Color Fashion Plates by JoAnne Olian
  28. The Art Nouveau Style by Stephan Tschudi Madsen
  29. Western World Costume by Carolyn G. Bradley
  30. Everyday Fashions of the Twenties by Stella Blum
  31. "Victorian Fashions and Costumes from Harper's Bazar by 1867-1898" by Stella Blum
  32. "Victorian and Edwardian Fashions from ""La Mode Illustrée""" by JoAnne Olian
  33. Chinese Domestic Furniture in Photographs and Measured Drawings by Gustav Ecke
  34. Art Deco Decorative Ironwork by Henri Clouzot
  35. Pictorial Encyclopedia of Historic Costume by Albert Kretschmer
  36. Children's Fashions 1900-1950 As Pictured in Sears Catalogs by JoAnne Olian
  37. Chinese Snuff Bottles by Lilla S. Perry
  38. 305 Authentic Art Nouveau Jewelry Designs by Maurice Dufrène
  39. The Young Sea Officer's Sheet Anchor by Darcy Lever
  40. Art Nouveau Decorative Ironwork by Theodore Menten
  41. Aviation Firsts by Joshua Stoff
  42. Victorian Fashions by Carol Belanger Grafton
  43. Authentic Art Deco Jewelry Designs by Franco Deboni
  44. Picture History of World War II American Aircraft Production by Joshua Stoff
  45. Barn Quilts and the American Quilt Trail Movement by Suzi Parron; Donna Sue Groves
  46. Japanese Things by Basil Hall Chamberlain
  47. Collecting Toy Soldiers in the 21st Century by James Opie
  48. "The Watch Jobber's Handybook - A Practical Manual on Cleaning by Repairing and Adjusting: Embracing Information on the Tools by Materials Appliances and Processes Employed in Watchwork" by Paul N. Hasluck
  49. Japanese Costume & Makers by Helen Minnich
  50. Sword Beach by Tim Kilvert-Jones
  51. Watchmakers and Clockmakers of the World by G. H. Baillie
  52. Japanese & Oriental Ceramic by Hazel H. Gorham
  53. The Inner Workings of a Watch - A Simple Guide for Enthusiasts of Clockwork Mechanisms by Anon
  54. Batik Art & Craft by Ila Keller
  55. Arts of Japan by Hugo Munsterberg
  56. Smoke Rings and Roundelays - Pipes and Tobacco by Wilfred Partington
  57. Secrets of an Art Dealer by James Henry Duveen
  58. The Bells of Russia by Edward V. Williams
  59. "Watch Repairing by Cleaning and Adjusting - A Practical Handbook" by F. J. Garrard
  60. Ningyo by Alan Scott Pate
  61. Illustrated Handbook of Western European Costume by Iris Brooke
  62. The Arts of the Sailor by Hervey Garrett Smith
  63. The Cabinet-Maker and Upholsterer's Guide by George Hepplewhite
  64. Antiques on the Cheap by James W. McKenzie
  65. Everyday Fashions of the Fifties As Pictured in Sears Catalogs by JoAnne Olian
  66. How We Invented the Airplane by Orville Wright
  67. A History of Costume by Carl Köhler
  68. Abraham Lincoln: Beyond the Icon by Fred Reed
  69. Guns on the Early Frontiers by Carl P. Russell
  70. Classic Wicker Furniture by Heywood Brothers
  71. Victorian Architectural Sheet-Metal Ornaments by Bakewell
  72. Badges and Uniforms of the Royal Air Force by Malcolm Hobart
  73. Trades and Crafts of Old Japan by Eric A. Kaemmerer
  74. "Armoured Warfare in Northwest Europe by 1944–45" by Anthony Tucker-Jones
  75. "Blood by Bilge and Iron Balls" by Alan Abbey
  76. "British Army by 2008–2009" by Charles Heyman
  77. Boesinghe by Stephen McGreal
  78. Painted Fans of Japan by Reiko Chiba
  79. "Illustrated Mission Furniture Catalog by 1912-13" by Come-Packt Furniture Co.
  80. Costume Through the Ages by Erhard Klepper
  81. Decorative French Ironwork Designs by Louis Blanc
  82. The Book of the Pearl by George Frederick Kunz
  83. Transatlantic Flight by Joshua Stoff
  84. Turn-of-the-Century Farm Tools and Implements by Henderson & Co.
  85. The Mode in Hats and Headdress by R. Turner Wilcox
  86. Victorian and Edwardian Fashion by Alison Gernsheim
  87. Treasury of Ironwork Designs by Carol Belanger Grafton
  88. Old-Time Children Vignettes in Full Color by Carol Belanger Grafton
  89. English Children's Costume 1775-1920 by Iris Brooke
  90. Illustrated Encyclopedia of World Railway Locomotives by P. Ransome-Wallis
  91. Making Authentic Pennsylvania Dutch Furniture by John G. Shea
  92. A Guide Book of United States Coins 2015 by R.S. Yeoman
  93. Corrosion and Conservation of Cultural Heritage Metallic Artefacts by "Dillmann by P; Watkinson by D; Angelini by E; Adriaens by A"
  94. Balinese Masks by Judy Slattum
  95. Collecting: An Unruly Passion by Werner Muensterberger
  96. Nyonya Kebaya by Datin Seri
  97. China Home by Michael Freeman
  98. Things Chinese by Ronald G. Knapp
  99. African Pottery Roulettes Past and Present by Anne Haour
  100. Collecting Japanese Antiques by Alistair Seton
  101. An Introduction to Tudor and Elizabethan Styles of Furniture by Arthur De Bles
  102. Encyclopedia of U.S. Gold Coins 1795-1934 by Jeff Garrett
  103. Surviving Examples of Early Plate Armour (1300-1430) by Douglas Strong
  104. 100 Greatest American Currency Notes by Q. David Bowers
  105. Obsolete Paper Money Issued by Banks in the United States 1782-1866 by Q. David Bowers
  106. Numismatic Art in America by Cornelius Vermeule
  107. A Guide Book of United States Paper Money by Arthur L. Friedberg
  108. American Gold and Platinum Eagles by Edmund C. Moy
  109. Suggestions For The Cleaning And Management Of Percussion Arms by George Lovell
  110. The Pocket Watch - The History and Stories Surrounding the First Pocket Watches by Anon
  111. "French Provincial Furniture And Accessories - For Interiors And Gardens - Lamps by Clocks by Faience by Porcelain by Tole And Other Metalwork by Garden Fountains by Sculptures And Other Ornaments" by Renee Guibal
  112. Treasures Of Canada by Alan Samuel
  113. Practical Watch Repairing by Donald De Carle
  114. A Guide Book of Lincoln Cents by Q David Bowers
  115. A Guide Book of Double Eagle Gold Coins by Q. David Bowers
  116. History of the United States Mint and Its Coinage by David W. Lange
  117. Grading Coins by Photographs by Q. David Bowers
  118. Coin Collecting: A Beginners Guide to the World of Coins by Kenneth Bressett
  119. "America's Money by America's Story" by Richard Doty
  120. Money and Exchange in Canada to 1900 by A.B. McCullough
  121. Toons in Toyland by Tim Hollis
  122. Victorian Jewellery by Margaret Flower
  123. Art Glass Nouveau by Ray Grover; Lee Grover
  124. British Clocks And Clockmakers by Kenneth Ullyett
  125. The Coronation Chair and Stone of Scone by Warwick Rodwell
  126. Guns of the Old West by Charles Edward Chapel
  127. Arts of China by "Hugo Munsterberg by Ph.D."
  128. A Guide Book of United States Coins 2014 by R.S.Yeoman
  129. "The Furniture of John Shearer by 1790-1820" by Elizabeth A. Davison
  130. Gallery of Late-Seventeenth-Century Costume by Caspar Luyken
  131. Ancient European Costume and Fashion by Herbert Norris
  132. A Guide Book of United States Paper Money by Arthur L. Friedberg
  133. A Guide Book of Flying Eagle and Indian Head Cents by Richard Snow
  134. A Guide Book of the Official Red Book of United States Coin by Frank J. Colletti
  135. American Gold and Platinum Eagles by Edmund C. Moy
  136. 100 Greatest U.S. Modern Coins by Scott Schechter
  137. Suggestions For The Cleaning And Management Of Percussion Arms by George Lovell
  138. Encyclopedia of U.S. Gold Coins 1795-1934 by Jeff Garrett
  139. Surviving Examples of Early Plate Armour (1300-1430) by Douglas Strong
  140. "Interesting Details on Antique American Furniture - Notes on Carving by Legs by Fittings and Upholstery" by Edgar G. Miller
  141. Art Work In Gold In Silver by Henry B. Wheatley
  142. Curiosities of the Mechanical Details in Watches by Anon
  143. Pictures From a Distant Country by Richard Doty
  144. Money and Exchange in Canada to 1900 by A.B. McCullough
  145. Snuff - Yesterday And Today by C. W. Shepherd
  146. Furniture of the Renaissance to the Baroque - A Treatise on the Furniture from Around Europe in this Period by Peter Philp
  147. Amulets by Flinders Petrie
  148. The Preservation of Leather Bookbindings by H. J. Plenderleith
  149. Automotive Milestones by Robert L. Norton
  150. Preserving History by Julie Hendricksen
  151. The Masterpieces of Thomas Chippendale - A Short Biography and His Famous Catalogue by Arthur Hayden
  152. "Catalogue of Rare Old Violins by Violas And Violoncellos - Also Bows of Rare Makes" by Anon
  153. "Antique Clock Dials by Hands by and Corner Pieces from Long Case and Lantern Clocks" by Anon
  154. Fabulous Finds by J. Lee Drexler; James R. Cohen
  155. Popular Gemology by Richard M. Pearl
  156. Manuscript Miscellanies in Early Modern England by Joshua Eckhardt; Daniel Starza Smith
  157. "Beautiful Examples of American Antique Sideboards and Kitchen Furniture - Including Sideboards from Hepplewhite by Sheraton and in the Empire Style" by Edgar J. Miller
  158. "American Military Shoulder Arms by Volume III" by George D. Moller
  159. Clock Cleaning and Repairing - With a Chapter on Adding Quarter-Chimes to a Grandfather Clock by Bernard E. Jones
  160. Whitman Encyclopedia of Obsolete Paper Money by Q. David Bowers
  161. "The Official Red Book: A Guide Book of United States Coins by Professional Edition" by R.S. Yeoman
  162. United States Gold Counterfeit Detection Guide by Bill Favaz
  163. A Guide Book of Buffalo and Jefferson Nickels by Q. David Bowers
  164. The Art of Duelling by A Traveller
  165. History of the United States Mint and Its Coinage by David W. Lange
  166. Grading Coins by Photographs by Q. David Bowers
  167. The Tools and Materials of the Watchmaker - A Guide to the Amateur Watchmaker's Toolkit - Including How to make your own Tools by Anon
  168. A Guide Book of Franklin and Kennedy Half Dollars by Rick Tomaska
  169. A Guide Book of United States Commemorative Coins by Q. David Bowers
  170. A Guide Book of Shield and Liberty Head Nickels by Q. David Bowers
  171. Abraham Lincoln: The Image of His Greatness by Fred Reed
  172. A Guide Book of United States Type Coins by Q. David Bowers
  173. United States Currency by Kenneth Bressett
  174. "Conserving by Preserving by and Restoring Your Heritage" by Kennis Kim
  175. The History of Quilts and Patchwork Worldwide with Photographic Reproductions by Shiela Betterton
  176. A Guide Book of Morgan Silver Dollars by Q. David Bowers
  177. A Guide Book of Peace Dollars by Roger W. Burdette
  178. 100 Greatest American Currency Notes by Q. David Bowers
  179. Obsolete Paper Money Issued by Banks in the United States 1782-1866 by Q. David Bowers
  180. Duesenberg by Dennis Adler
  181. Vintage Wristwatches by Reyne Haines
  182. The Cartiers by Francesca Cartier Brickell
  183. American & British 410 Shotguns by Ronald Gabriel
  184. Art Glass Identification & Price Guide by "John Shuman by III"
  185. Warman's Lalique by Mark Moran
  186. Gun Digest Book of Modern Gun Values by Richard Allen Mann; Jerry Lee
  187. Hot Wheels Variations by Michael Zarnock
  188. 50 Famous Firearms You've Got to Own by Rick Hacker
  189. Antique Trader Book Collector's Price Guide by Richard Russell
  190. Summer at Tiffany by Marjorie Hart
  191. Coin of the Year by Donald Scarinci
  192. Warman's World War II Collectibles by Michael E. Haskew
  193. Standard Catalog of U.S. Military Vehicles - 2nd Edition by David Doyle
  194. The Ultimate Guide to G.I. Joe 1982-1994 by Mark Bellomo
  195. Fantastic Finds by Eric Bradley
  196. Warman's Tools Field Guide by Clarence Blanchard
  197. The Ultimate Guide to G.I. Joe 1982-1994 by Mark Bellomo
  198. Gun Digest Browning Semi-Auto 22 Assembly/Disassembly Instructions by Kevin Muramatsu
  199. Just 30s by Angelo Van Boggart
  200. The Gun Digest Book of Guns for Personal Defense by Kevin Michalowski
  201. Grind a Blade the R.J. Martin Way: Knife Sharpening Techniques & Tips by Joe Kertzman
  202. Warman's Antiques & Collectibles 2016 Price Guide by Noah Fleisher
  203. Warman's G.I. Joe Field Guide by Kp Books
  204. Carriages and Sleighs by "Lawrence by Bradley"
  205. Warman's Clocks Field Guide by KP Staff
  206. 2012 U.S. Coin Digest: Commemoratives 1892-1954 by David C. Harper
  207. "Standard Catalog of World Coins by 1601-1700" by George S. Cuhaj
  208. 2012 U.S. Coin Digest: U.S. Territorial Gold by David C. Harper
  209. Warman's Jewelry Field Guide by Kathy Flood
  210. Warman's Civil War Collectibles Identification and Price Guide by Russell E. Lewis
  211. 2012 U.S. Coin Digest: Quarters by David C. Harper
  212. Standard Catalog of Civil War Firearms by John F. Graf
  213. The Gun Digest Book of Firearms Assembly/Disassembly Part II - Revolvers by J B Wood
  214. Antique Trader Cameras and Photographica Price Guide by Kyle Husfloen
  215. 2013 U.S. Coin Digest by David C. Harper
  216. Warman's Tobacco Collectibles by Mark Moran
  217. "Things That Were by Things That Are by and Things That May Become" by Baby Professor
  218. Purrrfect Toys: Kids Love to Cuddle by Baby Professor
  219. 2012 U.S. Coin Digest: Gold Coins by David C. Harper
  220. Standard Catalog of Vintage Baseball Cards by Sports Collectors Digest
  221. Warman's Watches Field Guide by Reyne Haines
  222. "Collecting World Coins by 1901-Present" by George S. Cuhaj
  223. Warman's Americana & Collectibles by Ellen Schroy
  224. Public Enemy #1 - the Infamous History of John Dillinger by Hotz Mark
  225. Warman's Kitschy Kitchen Collectibles Field Guide by Brian Alexander
  226. The Instant Coin Collector by Arlyn Sieber
  227. Fishing Collectibles by Russell Lewis
  228. Standard Catalog of United States Paper Money by George S. Cuhaj
  229. Game Inventor's Guidebook by Brian Tinsman
  230. Warman's Beatles Field Guide by Tim Neely
  231. 2012 U.S. Coin Digest: Half Dollars by David C. Harper
  232. 2011 Standard Catalog of World Coins 1901-2000 by George S. Cuhaj
  233. 2016 Standard Catalog of World Coins 2001-Date by George S. Cuhaj
  234. Warman's Hot Wheels Field Guide by Michael Zarnock
  235. "Texas Furniture by Volume One" by Lonn Taylor
  236. Warman's Modern US Coins Field Guide by Arlyn Sieber
  237. Warman's U.S. Coins & Currency Field Guide by Arlyn G. Sieber
  238. Manuscript Miscellanies in Early Modern England by "Starza Smith by Daniel by Dr"
  239. Warman's World Coins Field Guide by Arlyn G. Sieber
  240. Shooter's Bible Guide to Combat Handguns by Robert A. Sadowski
  241. Shooter's Bible Guide to Knives by Roger Eckstine
  242. Extreme Bricks by Sarah Herman
  243. 1001 Hunting Tips by Lamar Underwood; Nate Matthews
  244. The Ultimate Guide to Butchering Deer by John Weiss
  245. Taking Your First Shot by Lynne Finch
  246. "The Watch & Clock Makers' Handbook by Dictionary by and Guide" by F. J. Britten
  247. Do-It-Yourself Gun Repair by Edward A. Matunas
  248. "William Spratling by His Life and Art" by Taylor D. Littleton
  249. The Little Red Book of Hunter's Wisdom by Jay Cassell; Peter J. Fiduccia
  250. Practical Watch Repairing by Donald de Carle
  251. The Cigarette Book by Chris Harrald; Fletcher Watkins
  252. Guide to Taxidermy by Charles K. Reed; Chester A. Reed
  253. Hunting Bears by Kathy Etling
  254. "Gun Trader's Guide by Thirty-Fifth Edition" by Stephen D. Carpenteri
  255. The Pocket Deer Hunting Guide by Stephen D. Carpenteri
  256. The Future of the Gun by Frank Miniter
  257. Whitetail Tactics by Peter Fiduccia
  258. Mission Furniture by H. H. Windsor
  259. The Bowhunter's Field Manual by Judd Cooney
  260. Bowhunting's Superbucks by Kathy Etling
  261. Elementary Gunsmithing by Perry D. Frazer
  262. Shoot by Julie Golob
  263. Turning for Home by Mike Gaddis
  264. The Best Hunting Stories Ever Told by Jay Cassell
  265. Kitchen Things by Richard Snodgrass
  266. Model Engine-Making by J. Pocock
  267. The 21st Century Sniper by Brandon Webb
  268. Larousse Wine by David Cobbold; Sebastian Durand-Viel
  269. Gun Trader's Guide to Handguns by Robert A. Sadowski
  270. The Little Guide to Vintage Shopping by Melody Fortier
  271. Viva la Pizza! by Scott Wiener
  272. The GH Kaestlin Collection of Imperial Russian and Zemstvo Stamps by Thomas Lera; Leon Finik
  273. Carriage Terminology by Don H. Berkebile
  274. Every Stamp Tells a Story by Cheryl Ganz
  275. The Ultimate Cigar Book by Richard Carleton Hacker
  276. Black Ops Bricks by Nick Grant
  277. Deer Hunter's & Land Manager's Pocket Reference by J. Wayne Fears
  278. Frocking Life by BillyBoy*
  279. Welsh Yeomanry at War by Steven John
  280. Tactical Gun Digest by Corey Graff
  281. "Shooter's Bible by 109th Edition" by Jay Cassell
  282. United States Martial Pistols and Revolvers by Arcadi Gluckman
  283. Guns of the New West by David Chicoine
  284. Hugh Johnson's Pocket Wine Book 2018 by Hugh Johnson
  285. "Adventure (July by 1916)" by J. Allan Dunn
  286. Great Hunting Rifles by Terry Wieland
  287. "Let's Go Camping! From cabins to caravans by crochet your own camping Scenes" by Kate Bruning
  288. From the Oven to the Table by Diana Henry
  289. Jaguar by Zef Enault; Nicolas Heidet
  290. Hugh Johnson's Pocket Wine 2020 by Hugh Johnson
  291. The Truth About Firearms and Concealed Carry by Daniel R. Engel DE
  292. Hugh Johnson's Pocket Wine Book 2019 by Hugh Johnson
  293. Hugh Johnson on Wine by Hugh Johnson
  294. The 34-Ton Bat by Steve Rushin
  295. Toast & Marmalade by Emma Bridgewater
  296. Books by Larry McMurtry
  297. Andrea Immer's Wine Buying Guide for Everyone by Andrea Immer
  298. Light of India by Warren Dotz
  299. Postcards by Jason Rodriguez
  300. "The Watch Adjuster's Manual - A Practical Guide for the Watch and Chronometer Adjuster in Making by Springing by Timing and Adjusting for Isochronism by Positions and Temperatures" by Charles Edgar Fritts
submitted by TailExpert to CollegeTextbook [link] [comments]

Emergent Coding FAQ

Background reading
  1. https://youtu.be/-MMQUspVduo ELI5 with pictures.
  2. https://youtu.be/ZSkZxOJ5HPA Hello World using Emergent Coding
  3. https://codevalley.com/whitepaper.pdf This document treats Emergent coding from a philosophical perspective. It has a good introduction, description of the tech and is followed by two sections on justifications from the perspective of Fred Brooks No Silver Bullet criteria and an industrialization criteria.
  4. Mark Fabbro's presentation from the Bitcoin Cash City Conference which outlines the motivation, basic mechanics, and usage of Bitcoin Cash in reproducing the industrial revolution in the software industry.
  5. Building the Bitcoin Cash City presentation highlighting how the emergent coding group of companies fit into the adoption roadmap of North Queensland.
  6. Forging Chain Metal by Paul Chandler CEO of Aptissio, one of startups in the emergent coding space and which secured a million in seed funding last year.
  7. Bitcoin Cash App Exploration A series of Apps that are some of the first to be built by emergent coding and presented, and in the case of Cashbar, demonstrated at the conference.
  8. A casual Bitcoin Cash interview that touches on emergent coding, tech park, merchant adoption and much more.
How does Emergent Coding prevent developer capture?
A developer's Agent does not know what project they are contributing to and is thus paid for the specific contribution. The developer is controlling the terms of the payment rather than the alternative, an employer with an employment agreement.
Why does Emergent Coding use Bitcoin BCH?
  1. Both emergent coding and Bitcoin BCH are decentralized: As emergent coding is a decentralized development environment consisting of Agents providing respective design services, each contract received by an agent requires a BCH payment. As Agents are hosted by their developer owners which may be residing in one of 150 countries, Bitcoin Cash - an electronic peer-to-peer electronic cash system - is ideal to include a developer regardless of geographic location.
  2. Emergent coding will increase the value of the Bitcoin BCH blockchain: With EC, there are typically many contracts to build an application (Cashbar was designed with 10000 contracts or so). EC adoption will increase the value of the Bitcoin BCH blockchain in line with this influx of quality economic activity.
  3. Emergent coding is being applied to BCH software first: One of the first market verticals being addressed with emergent coding is Bitcoin Cash infrastructure. We are already seeing quality applications created using emergent coding (such as the HULA, Cashbar, PH2, vending, ATMs etc). More apps and tools supporting Bitcoin cash will attract more merchants and business to BCH.
  4. Emergent coding increases productivity: Emergent coding increases developer productivity and reduces duplication compared to other software development methods. Emergent coding can provide BCH devs with an advantage over other coins. A BCH dev productivity advantage will accelerate Bitcoin BCH becoming the first global currency.
  5. Emergent coding produces higher quality binaries: Higher quality software leads to a more reliable network.

1. Who/what is Code Valley? Aptissio? BCH Tech Park? Mining and Server Complex?
Code Valley Corp Pty Ltd is the company founded to commercialize emergent coding technology. Code Valley is incorporated in North Queensland, Australia. See https://codevalley.com
Aptissio Australia Pty Ltd is a company founded in North Queensland and an early adopter of emergent coding. Aptissio is applying EC to Bitcoin BCH software. See https://www.aptissio.com
Townsville Technology Precincts Pty Ltd (TTP) was founded to bring together partners to answer the tender for the Historic North Rail Yard Redevelopment in Townsville, North Queensland. The partners consist of P+I, Conrad Gargett, HF Consulting, and a self-managed superannuation fund(SMSF) with Code Valley Corp Pty Ltd expected to be signed as an anchor tenant. TTP answered a Townsville City Council (TCC) tender with a proposal for a AUD$53m project (stage 1) to turn the yards into a technology park and subsequently won the tender. The plan calls for the bulk of the money is to be raised in the Australian equity markets with the city contributing $28% for remediation of the site and just under 10% from the SMSF. Construction is scheduled to begin in mid 2020 and be competed two years later.
Townsville Mining Pty Ltd was set up to develop a Server Complex in the Kennedy Energy Park in North Queensland. The site has undergone several studies as part of a due diligence process with encouraging results for its competitiveness in terms of real estate, power, cooling and data.
  1. TM are presently in negotiations with the owners of the site and is presently operating under an NDA.
  2. The business model calls for leasing "sectors" to mining companies that wish to mine allowing companies to control their own direction.
  3. Since Emergent Coding uses the BCH rail, TM is seeking to contribute to BCH security with an element of domestic mining.
  4. TM are working with American partners to lease one of the sectors to meet that domestic objective.
  5. The site will also host Emergent Coding Agents and Code Valley and its development partners are expected to lease several of these sectors.
  6. TM hopes to have the site operational within 2 years.
2. What programming language are the "software agents" written in.
Agents are "built" using emergent coding. You select the features you want your Agent to have and send out the contracts. In a few minutes you are in possession of a binary ELF. You run up your ELF on your own machine and it will peer with the emergent coding and Bitcoin Cash networks. Congratulations, your Agent is now ready to accept its first contract.
3. Who controls these "agents" in a software project
You control your own Agents. It is a decentralized development system.
4. What is the software license of these agents. Full EULA here, now.
A license gives you the right to create your own Agents and participate in the decentralized development system. We will publish the EULA when we release the product.
5. What kind of software architecture do these agents have. Daemons Responding to API calls ? Background daemons that make remote connection to listening applications?
Your Agent is a server that requires you to open a couple of ports so as to peer with both EC and BCH networks. If you run a BCH full node you will be familiar with this process. Your Agent will create a "job" for each contract it receives and is designed to operate thousands of jobs simultaneously in various stages of completion. It is your responsibility to manage your Agent and keep it open for business or risk losing market share to another developer capable of designing the same feature in a more reliable manner (or at better cost, less resource usage, faster design time etc.). For example, there is competition at every classification which is one reason emergent coding is on a fast path for improvement.
It is worth reiterating here that Agents are only used in the software design process and do not perform any role in the returned project binary.
6. What is the communication protocol these agents use.
The protocol is proprietary and is part of your license.
7. Are the agents patented? Who can use these agents?
It is up to you if you want to patent your Agent the underlying innovation behind emergent coding is _feasible_ developer specialization. Emergent coding gives you the ability to contribute to a project without revealing your intellectual property thus creating prospects for repeat business; It renders software patents moot.
Who uses your Agents? Your Agents earn you BCH with each design contribution made. It would be wise to have your Agent open for business at all times and encourage everyone to use your design service.
8. Do I need to cooperate with Code Valley company all of the time in order to deploy Emergent Coding on my software projects, or can I do it myself, using documentation?
It is a decentralized system. There is no single point of failure. Code Valley intends to defend the emergent coding ecosystem from abuse and bad actors but that role is not on your critical path.
9. Let's say Electron Cash is an Emergent Coding project. I have found a critical bug in the binary. How do I report this bug, what does Jonald Fyookball need to do, assuming the buggy component is a "shared component" puled from EC "repositories"?
If you built Electron Cash with emergent coding it will have been created by combining several high level wallet features designed into your project by their respective Agents. Obviously behind the scenes there are many more contracts that these Agents will let and so on. For example the Cashbar combines just 16 high level Point-of-Sale features but ultimately results in more than 10,000 contracts in toto. Should one of these 10,000 make a design error, Jonald only sees the high level Agents he contracted. He can easily pinpoint which of these contractors are in breach. Similarly this contractor can easily pinpoint which of its sub-contractors is in breach and so on. The offender that breached their contract wherever in the project they made their contribution, is easily identified. For example, when my truck has a warranty problem, I do not contact the supplier of the faulty big-end bearing, I simply take it back to Mazda who in turn will locate the fault.
Finally "...assuming the buggy component is a 'shared component' puled from EC 'repositories'?" - There are no repositories or "shared component" in emergent coding.
10. What is your licensing/pricing model? Per project? Per developer? Per machine?
Your Agent charges for each design contribution it makes (ie per contract). The exact fee is up to you. The resulting software produced by EC is unencumbered. Code Valley's pricing model consists of a seat license but while we are still determining the exact policy, we feel the "Valley" (where Agents advertise their wares) should charge a small fee to help prevent gaming the catalogue and a transaction fee to provide an income in proportion to operations.
11. What is the basic set of applications I need in order to deploy full Emergent Coding in my software project? What is the function of each application? Daemons, clients, APIs, Frontends, GUIs, Operating systems, Databases, NoSQLs? A lot of details, please.
There's just one. You buy a license and are issued with our product called Pilot. You run Pilot (node) up on your machine and it will peer with the EC and BCH networks. You connect your browser to Pilot typically via localhost and you're in business. You can build software (including special kinds of software like Agents) by simply combining available features. Pilot allows you to specify the desired features and will manage the contracts and decentralized build process. It also gives you access to the "Valley" which is a decentralized advertising site that contains all the "business cards" of each Agent in the community, classified into categories for easy search.
If we are to make a step change in software design, inventing yet another HLL will not cut it. As Fred Brooks puts it, an essential change is needed.
12. How can I trust a binary when I can not see the source?
The Emergent Coding development model is very different to what you are use to. There are ways of arriving at a binary without Source code.
The Agents in emergent coding design their feature into your project without writing code. We can see the features we select but can not demonstrate the source as the design process doesn't use a HLL.
The trust model is also different. The bulk of the testing happens _before_ the project is designed not _after_. Emergent Coding produces a binary with very high integrity and arguably far more testing is done in emergent coding than in incumbent methods you are used to.
In emergent coding, your reputation is built upon the performance of your Agent.
If your Agent produces substandard features, you are simply creating an opportunity for a competitor to increase their market share at your expense.
Here are some points worth noting regarding bad actor Agents:
  1. An Agent is a specialist and in emergent coding is unaware of the project they are contributing to. If you are a bad actor, do you compromise every contract you receive? Some? None?
  2. Your client is relying on the quality of your contribution to maintain their own reputation. Long before any client will trust your contributions, they will have tested you to ensure the quality is at their required level. You have to be at the top of your game in your classification to even win business. This isn't some shmuck pulling your routine from a library.
  3. Each contract to your agent is provisioned. Ie you advertise in advance what collaborations you require to complete your design. There is no opportunity for a "sign a Bitcoin transaction" Agent to be requesting "send an HTTP request" collaborations.
  4. Your Agent never gets to modify code, it makes a design contribution rather than a code contribution. There is no opportunity to inject anything as the mechanism that causes the code to emerge is a higher order complexity of all Agent involvement.
  5. There is near perfect accountability in emergent coding. You are being contracted and paid to do the design. Every project you compromise has an arrow pointed straight at you should it be detected even years later.
Security is a whole other ball game in emergent coding and current rules do not necessarily apply.
13. Every time someone rebuilds their application, do they have to pay over again for all "design contributions"? (Or is the ability to license components at fixed single price for at least a limited period or even perpetually, supported by the construction (agent) process?)
You are paying for the design. Every time you build (or rebuild) an application, you pay the developers involved. They do not know they are "rebuilding". This sounds dire but its costs far less than you think and there are many advantages. Automation is very high with emergent coding so software design is completed for a fraction of the cost of incumbent design methods. You could perhaps rebuild many time before matching incumbent methods. Adding features is hard with incumbent methods "..very few late-stage additions are required before the code base transforms from the familiar to a veritable monster of missed schedules, blown budgets and flawed products" (Brooks Jr 1987) whereas with emergent coding adding a late stage feature requires a rebuild and hence seamless integration. With Emergent Coding, you can add an unlimited number of features without risking the codebase as there isn't one.
The second part of your question incorrectly assumes software is created from licensed components rather than created by paying Agents to design features into your project without any licenses involved.
14. In this construction process, is the vendor of a particular "design contribution" able to charge differential rates per their own choosing? e.g. if I wanted to charge a super-low rate to someone from a 3rd world country versus charging slightly more when someone a global multinational corporation wants to license my feature?
Yes. Developers set the price and policy of their Agent's service. The Valley (where your Agent is presently advertised) presently only supports a simple price policy. The second part of your question incorrectly assumes features are encumbered with licenses. A developer can provide their feature without revealing their intellectual property. A client has the right to reuse a developer's feature in another project but will find it uneconomical to do so.
15. Is "entirely free" a supported option during the contract negotiation for a feature?
Yes. You set the price of your Agent.
16. "There is no single point of failure." Right now, it seems one needs to register, license the construction tech etc. Is that going to change to a model where your company is not necessarily in that loop? If not, don't you think that's a single point of failure?
It is a decentralized development system. Once you have registered you become part of a peer-to-peer system. Code Valley has thought long and hard about its role and has chosen the reddit model. It will set some rules for your participation and will detect or remove bad actors. If, in your view, Code Valley becomes a bad actor, you have control over your Agent, private keys and IP, you can leave the system at any time.
17. What if I can't obtain a license because of some or other jurisdictional problem? Are you allowed to license the technology to anywhere in the world or just where your government allows it?
We are planning to operate in all 150 countries. As ec is peer-to-peer, Code Valley does not need to register as a digital currency exchange or the like. Only those countries banning BCH will miss out (until such times as BCH becomes the first global electronic cash system).
18.
For example the Cashbar combines just 16 high level Point-of-Sale features but ultimately results in more than 10,000 contracts in toto.
It seems already a reasonably complex application, so well done in having that as a demo.
Thank you.
19. I asked someone else a question about how it would be possible to verify whether an application (let's say one received a binary executable) has been built with your system of emergent consensus. Is this possible?
Yes of course. If you used ec to build an application, you can sign it and claim anything you like. Your client knows it came from you because of your signature. The design contributions making up the application are not signed but surprisingly there is still perfect accountability (see below).
20. I know it is possible to identify for example all source files and other metadata (like build environment) that went into constructing a binary, by storing this data inside an executable.
All metadata emergent coding is now stored offline. When your Agent completes a job, you have a log of the design agreements you made with your peers etc., as part of the log. If you are challenged at a later date for breaching a design contract, you can pull your logs to see what decisions you made, what sub-contracts were let etc. As every Agent has their own logs, the community as a whole has a completely trustless log of each project undertaken.
21. Is this being done with EC build products and would it allow the recipient to validate that what they've been provided has been built only using "design contributions" cryptographically signed by their providers and nothing else (i.e. no code that somehow crept in that isn't covered by the contracting process)?
The emergent coding trust model is very effective and has been proven in other industries. Remember, your Agent creates a feature in my project by actually combining smaller features contracted from other Agents, thus your reputation is linked to that of your suppliers. If Bosch makes a faulty relay in my Ford, I blame Ford for a faulty car not Bosch when my headlights don't work. Similarly, you must choose and vet your sub-contractors to the level of quality that you yourself want to project. Once these relationships are set up, it becomes virtually impossible for a bad actor to participate in the system for long or even from the get go.
22. A look at code generated and a surprising answer to why is every intermediate variable spilled?
Thanks to u/R_Sholes, this snippet from the actual code for: number = number * 10 + digitgenerated as a part of: sub read/integeboolean($, 0, 100) -> guess
; copy global to local temp variable 0x004032f2 movabs r15, global.current_digit 0x004032fc mov r15, qword [r15] 0x004032ff mov rax, qword [r15] 0x00403302 movabs rdi, local.digit 0x0040330c mov qword [rdi], rax ; copy global to local temp variable 0x0040330f movabs r15, global.guess 0x00403319 mov r15, qword [r15] 0x0040331c mov rax, qword [r15] 0x0040331f movabs rdi, local.num 0x00403329 mov qword [rdi], rax ; multiply local variable by constant, uses new temp variable for output 0x0040332c movabs r15, local.num 0x00403336 mov rax, qword [r15] 0x00403339 movabs rbx, 10 0x00403343 mul rbx 0x00403346 movabs rdi, local.num_times_10 0x00403350 mov qword [rdi], rax ; add local variables, uses yet another new temp variable for output 0x00403353 movabs r15, local.num_times_10 0x0040335d mov rax, qword [r15] 0x00403360 movabs r15, local.digit 0x0040336a mov rbx, qword [r15] 0x0040336d add rax, rbx 0x00403370 movabs rdi, local.num_times_10_plus_digit 0x0040337a mov qword [rdi], rax ; copy local temp variable back to global 0x0040337d movabs r15, local.num_times_10_plus_digit 0x00403387 mov rax, qword [r15] 0x0040338a movabs r15, global.guess 0x00403394 mov rdi, qword [r15] 0x00403397 mov qword [rdi], rax For comparison, an equivalent snippet in C compiled by clang without optimizations gives this output: imul rax, qword ptr [guess], 10 add rax, qword ptr [digit] mov qword ptr [guess], rax 
Collaborations at the byte layer of Agents result in designs that spill every intermediate variable.
Firstly, why this is so?
Agents from this early version only support one catch-all variable design when collaborating. Similar to a compiler when all registers contain variables, the compiler must make a decision to spill a register temporarily to main memory. The compiler would still work if it spilled every variable to main memory but would produce code that would be, as above, hopelessly inefficient.
However, by only supporting the catch-all portion of the protocol, the code valley designers were able to design, build and deploy these agents faster because an Agent needs fewer predicates in order to participate in these simpler collaborations.
The protocol involved however, can have many "Policies" besides the catch-all default policy (Agents can collaborate over variables designed to be on the stack, or, as is common for intermediate variables, designed to use a CPU register, and so forth).
This example highlights one of the very exciting aspects of emergent coding. If we now add a handful of additional predicates to a handful of these byte layer agents, henceforth ALL project binaries will be 10x smaller and 10x faster.
Finally, there can be many Agents competing for market share at each of classification. If these "gumby" agents do not improve, you can create a "smarter" competitor (ie with more predicates) and win business away from them. Candy from a baby. Competition means the smartest agents bubble to the top of every classification and puts the entire emergent coding platform on a fast path for improvement. Contrast this with incumbent libraries which does not have a financial incentive to improve. Just wait until you get to see our production system.
23. How hard can an ADD Agent be?
Typically an Agent's feature is created by combining smaller features from other Agents. The smallest features are so devoid of context and complexity they can be rendered by designing a handful of bytes in the project binary. Below is a description of one of these "byte" layer Agents to give you an idea how they work.
An "Addition" Agent creates the feature of "adding two numbers" in your project (This is an actual Agent). That is, it contributes to the project design a feature such that when the project binary is delivered, there will be an addition instruction somewhere in it that was designed by the contract that was let to this Agent.
If you were this Agent, for each contract you received, you would need to collaborate with peers in the project to resolve vital requirements before you can proceed to design your binary "instruction".
Each paid contract your Agent receives will need to participate in at least 4 collaborations within the design project. These are:
  1. Input A collaboration
  2. Input B collaboration
  3. Result collaboration
  4. Construction site collaboration
You can see from the collaborations involved how your Agent can determine the precise details needed to design its instruction. As part of the contract, the Addition Agent will be provisioned with contact details so it can join these collaborations. Your Agent must collaborate with other stakeholders in each collaboration to resolve that requirement. In this case, how a variable will be treated. The stakeholders use a protocol to arrive at an Agreement and share the terms of the agreement. For example, the stakeholders of collaboration “Input A” may agree to treat the variable as an signed 64bit integer, resolve to locate it at location 0x4fff2, or alternatively agree that the RBX register should be used, or agree to use one of the many other ways a variable can be represented. Once each collaboration has reached an agreement and the terms of that agreement distributed, your Agent can begin to design the binary instruction. The construction site collaboration is where you will exactly place your binary bytes.
The construction site protocol is detailed in the whitepaper and is some of the magic that allows the decentralized development system to deliver the project binary. The protocol consists of 3 steps,
  1. You request space in the project binary be reserved.
  2. You are notified of the physical address of your requested space.
  3. You delver the the binary bytes you designed to fill the reserved space.
Once the bytes are returned your Agent can remove the job from its work schedule. Job done, payment received, another happy customer with a shiny ADD instruction designed into their project binary.
Note:
  1. Observe how it is impossible for this ADD Agent to install a backdoor undetected by the client.
  2. Observe how the Agent isn’t linking a module, or using a HLL to express the binary instruction.
  3. Observe how with just a handful of predicates you have a working "Addition" Agent capable of designing the Addition Feature into a project with a wide range of collaboration agreements.
  4. Observe how this Agent could conceivably not even design-in an ADD instruction if one of the design time collaboration agreements was a literal "1" (It would design in an increment instruction). There is even a case where this Agent may not deliver any binary to build its feature into your project!
24. How does EC arrive at a project binary without writing source code?
Devs using EC combine features to create solutions. They don't write code. EC devs contract Agents which design the desired features into their project for a fee. Emergent coding uses a domain specific contracting language (called pilot) to describe the necessary contracts. Pilot is not a general purpose language. As agents create their features by similarly combining smaller features contracted from peer, your desired features may inadvertently result in thousands of contracts. As it is agents all the way down, there is no source code to create the project binary.
Traditional: Software requirements -> write code -> compile -> project binary (ELF).
Emergent coding: Select desired features -> contract agents -> project binary (ELF).
Agents themselves are created the same way - specify the features you want your agent to have, contract the necessary agents for those features and viola - agent project binary (ELF).
25. How does the actual binary code that agents deliver to each other is written?
An agent never touches code. With emergent coding, agents contribute features to a project, and leave the project binary to emerge as the higher-order complexity of their collective effort. Typically, agents “contribute” their feature by causing smaller features to be contributed by peers, who in turn, do likewise. By mapping features to smaller features delivered by these peers, agents ensure their feature is delivered to the project without themselves making a direct code contribution.
Peer connections established by these mappings serve to both incrementally extend a temporary project “scaffold” and defer the need to render a feature as a code contribution. At the periphery of the scaffold, features are so simple they can be rendered as a binary fragment with these binary fragments using the information embodied by the scaffold to guide the concatenation back along the scaffold to emerge as the project binary - hence the term Emergent Coding.
Note the scaffold forms a temporary tree-like structure which allows virtually all the project design contracts to be completed in parallel. The scaffold also automatically limits an agent's scope to precisely the resources and site for their feature. It is why it is virtually impossible for an agent to install a "back door" or other malicious code into the project binary.
submitted by nlovisa to EmergentCoding [link] [comments]

A Look at DCG & Bitfury's Incestuous Ties With the U.S. Government

Peter Todd Tweet in 2014: https://archive.is/vKZ9C
[email protected] I gotta say, looks really bad legally how Austin Hill's been negotiating deals w/ pools/etc. to get control of hashing power.
Board of Digital Currency Group
Glenn Hutchins
Advisory Board
Larry Summers
DCG of course is an investor in both Blockstream and BTCC.
DCG's money comes from:
DCG also owns Coindesk.
BTCC and Bitfury are the only two large mining pools who are outspoken in their support of Bitcoin Core.
The Bitfury Group Leadership to Present at Clinton Global Initiative (https://archive.is/MWKee)
Full Video (Begins at 32:00)
“The Bitfury Group is proud to be the world’s leading full service Blockchain technology company, we are deeply honored to represent this innovation to an audience of extremely dedicated game-changers, and we look forward to highlighting our company’s groundbreaking ‘Blockchain for global good’ work at such an important event, said Smith. “From the White House to the Blockchain, I know this technology has the power to deliver inclusion and opportunity to millions, if not billions, of people around the world and I am so grateful to work for a company focused on such a principled vision.”
Bitfury Lightning Implementation
  • In partnership with a French firm called ACINQ (http://acinq.co)
  • ACINQ is a subsidiary of the larger ACINQ Financial Services
  • CoinTelegraph: Bitfury Lightning Network Successfully Tested With French Bitcoin Company
  • TEAM: https://archive.is/Q5CNU
  • ACINQ’s US Headquarters is in Vienna, Virginia, a small town of only 16,000. Why would a global financial firm choose to locate here? -- Feeder community into Washington, D.C. Has an orange line metro stop. -- Located in Fairfax County, VA. -- The US Federal Government is the #2 largest employer -- Booz Allen Hamilton (NSA front company) is #6 largest employer -- In fact, most of the top employers in Fairfax County are either US Federal Gov’t or companies that provide services to Federal Government -- The county is home to the headquarters of intelligence agencies such as the Central Intelligence Agency, National Geospatial-Intelligence Agency, and National Reconnaissance Office, as well as the National Counterterrorism Center and Office of the Director of National Intelligence.
Chairman: Avinash Vashistha
CEO: Chaman Baid
CSO: Nandan Setlur
  • https://www.linkedin.com/in/nandansetlur https://archive.is/wp3L0
  • From 1986-1993 he worked for Information Management Consultants (imc) Ltd as a Technical Consultant with various federal government agencies. McLean, Virginia
  • 1993-2000 Technical Consultant for Freddie Mac, in McLean Virginia
  • From 2000-2007, President of InterPro Global in Maryland
  • From 2011-2012, Director of VibbleTV in Columbia, Maryland
  • From 2008-Present has been Executive Director at ACINQ and Managing Partner at Vine Management, both in Vienna, Virginia.
BitFury Enhances Its Advisory Board by Adding Former CFTC Chairman Dr. James Newsome and Renowned Global Thought Leader and President of the Institute for Liberty and Democracy Hernando de Soto (Businesswire)
Bitfury Board of Directors
Robert R Dykes
The other board members include two Bitfury founders, and an investor.
Bitfury Advisory Board
James Newsome
  • Ex-chairman of CFTC
  • Dr. Newsome was nominated by President Clinton and confirmed by the Senate to be at first a Commissioner and later a Chairman of CFTC. As Chairman, Newsome guided the regulation of the nation’s futures markets. Additionally, Newsome led the CFTC’s regulatory implementation of the Commodity Futures Modernization Act of 2000 (CFMA). He also served as one of four members of the President’s Working Group for Financial Markets, along with the Secretary of the Treasury and the Chairmen of the Federal Reserve and the SEC. In 2004, Newsome assumed the role of President and Chief Executive Officer of the New York Mercantile Exchange (NYMEX) where he managed daily operations of the largest physical derivatives exchange in the world. Dr. Newsome is presently a founding partner of Delta Strategy Group, a full-service government affairs firm based in Washington, DC.
Hernando de Soto
  • Hernando de Soto heads the Institute for Liberty and Democracy, named by The Economist one of the two most important think tanks in the world. In the last 30 years, he and his colleagues at the ILD have been involved in designing and implementing legal reform programs to empower the poor in Africa, Asia, Latin America, the Middle East, and former Soviet nations by granting them access to the same property and business rights that the majority of people in developed countries have through the institutions and tools needed to exercise those rights and freedoms. Mr. de Soto also co-chaired with former US Secretary of State Madeleine Albright the Commission on Legal Empowerment of the Poor, and currently serves as honorary co-chair on various boards and organizations, including the World Justice Project. He is the author of “The Other Path: the Economic Answer to Terrorism”, and his seminal work “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”
  • Frequent attendee at Davos World Economic Forum
  • Frequent Speaker @ Clinton Global Initiative http://www.dailymotion.com/video/x2ytfrs https://archive.is/MWKee
  • Criticisms: -- In his 'Planet of Slums'[104] Mike Davis argues that de Soto, who Davis calls 'the global guru of neo-liberal populism', is essentially promoting what the statist left in South America and India has always promoted—individual land titling. Davis argues that titling is the incorporation into the formal economy of cities, which benefits more wealthy squatters but is disastrous for poorer squatters, and especially tenants who simply cannot afford incorporation into the fully commodified formal economy. -- An article by Madeleine Bunting for The Guardian (UK) claimed that de Soto's suggestions would in some circumstances cause more harm than benefit, and referred to The Mystery of Capital as "an elaborate smokescreen" used to obscure the issue of the power of the globalized elite. She cited de Soto's employment history as evidence of his bias in favor of the powerful. https://www.theguardian.com/business/2000/sep/11/imf.comment http://www.slate.com/articles/news_and_politics/hey_wait_a_minute/2005/01/the_de_soto_delusion.html
Tomicah Tilleman
  • https://en.wikipedia.org/wiki/Tomicah_Tillemann
  • Dr. Tomicah Tillemann is Director of the Bretton Woods II initiative. The initiative brings together a variety of long-term investors, with the goal of committing 1% of their assets to social impact investment and using investments as leverage to encourage global good governance. Tillemann served at the U.S. State Department in 2010 as the Senior Advisor on Civil Society and Emerging Democracies to Secretary Hillary Clinton and Secretary John Kerry. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Tillemann received his B.A. magna cum laude from Yale University. He holds a Ph.D. with distinction from the School for Advanced International Studies at Johns Hopkins University (SAIS) where he also served as a graduate level instructor in American foreign policy. http://live.worldbank.org/node/8468 https://archive.is/raDHA
  • Secretary Clinton appointed Tomicah Tillemann, Ph.D. as the State Department’s Senior Advisor for Civil Society and Emerging Democracies in October 2010. He continues his service under Secretary Kerry.
  • Mr. Tillemann and his team operate like venture capitalists, identifying ideas that can strengthen new democracies and civil society, and then bring together the talent, technology and resources needed to translate promising concepts into successful diplomacy. He and his team have developed over 20 major initiatives on behalf of the President and Secretary of State.
  • Mr. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009 and collaborated with her on over 200 speeches. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Mr. Tillemann’s other professional experience includes work with the White House Office of Media Affairs and five U.S. Senate and Congressional campaigns. He was a reporter with Reuters New Media and hosted a commercial radio program in Denver, Colorado. http://m.state.gov/md160354.htm https://www.newamerica.org/our-people/tomicah-tillemann/ https://archive.is/u2yF0
  • Director of “Bretton Woods II” initiative at New America Foundation Bretton Woods was an international summit that led to the creation of the IMF and the IBRD, one of five members of The World Bank
Jamie Smith
Jason Weinstein
Paul Brody (no longer appears on site, and his LinkedIn has no mention of Bitfury, but he is mentioned in a Press Release
  • https://www.linkedin.com/in/pbrody
  • Ernst & Young since 2015 as “Americas Strategy Leader”, “Global Innovation Leader”, and “Solution Leader”
  • Prior to E&Y, he was an executive at IBM since 2002
New America Foundation
Muskoka Group
[note: this is worthy of much more research]
  • https://www.bloomberg.com/news/articles/2016-08-29/blockchain-s-backers-embark-on-campaign-to-improve-its-image
  • Don Tapscott, co-author of the book “Blockchain Revolution,” hosted the meeting with his son and co-author Alex Tapscott at his family’s summer compound in Lake of Bays, Ontario. The group included some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan. They considered ways to improve the governance and oversight of the technology behind the digital currency bitcoin as a way to fuel the industry’s growth. They included Jim Zemlin, executive director of the Linux Foundation; Brian Behlendorf, executive director of the Hyperledger Project, a blockchain supporter group that includes International Business Machines Corp., Airbus Group SE and JPMorgan Chase & Co.; and Ana Lopes, board member of the World Wide Web Foundation. Participants with blockchain industry ties include former deputy White House press secretary Jamie Smith, now chief global communications officer of BitFury Group Ltd., and Joseph Lubin, founder of startup Consensus Systems.
Blockchain Delegation Attends Democratic National Convention https://archive.is/k16Nu
Attendees:
Jamie Smith — The Bitfury Group & Blockchain Trust Accelerator Tomicah Tillemann— New America Foundation & Blockchain Trust Accelerator Alex Tapscott— co-author: Blockchain Revolution Brian Forde — MIT, Digital Currency Initiative
Brian Forde
  • Was the founding director of the MIT Digital Currency Initiative -Left his 4 year post as White House Senior Advisor for Mobile and Data Innovation to go directly to the MIT DCI
  • Brian Forde has spent more than a decade at the nexus of technology, entrepreneurship, and public policy. He is currently the Director of Digital Currency at the MIT Media Lab where he leads efforts to mainstream digital currencies like Bitcoin through research, and incubation of high-impact applications of the emerging technology. Most recently he was the Senior Advisor for Mobile and Data Innovation at the White House where he spearheaded efforts to leverage emerging technologies to address the President’s most critical national priorities. Prior to his work at the White House, Brian founded one of the largest phone companies in Nicaragua after serving as a business and technology volunteer in the Peace Corps. In recognition of his work, Brian was named a Young Global Leader by the World Economic Forum and one of the ten most influential people in bitcoin and blockchain. https://www.linkedin.com/in/brianforde https://archive.is/WjEGU
Alex Tapscott
World Economic Forum
  • Strategic Partners: https://www.weforum.org/about/strategic-partners
  • Includes Accenture (See Avinash Vashistha), Allianz, Deloitte (Scaling Bitcoin platinum sponsor, Blockstream Partner), Citigroup, Bain & Company (parent of Bain Capital, DCG investor), Dalian Wanda Group (working on blockchain technology), Ernst & Young (see Paul Brody), HSBC (Li-Ka Shing, Blockstream investor, used to be Deputy Chairman of HSBC), IBM, KPMG International, Mastercard (DCG Investor), PwC (Blockstream partner, also sponsor of Scaling Bitcoin)
  • Future of Financial Services Report [PDF] The word “blockchain” is mentioned once in this document, on page 23 (http://i.imgur.com/1SxyneJ.png): We have identified three major challenge areas related to innovation in financial services that will require multi-stakeholder collaboration to be addressed effectively. We are launching a project stream related to each area, with the goal of enabling tangible impact.... Decentralised systems, such as the blockchain protocol, threaten to disintermediate almost every process in financial services
  • The Steering Group who authored the report is a who’s who of the global financial elite. (Pages 4 & 5) http://i.imgur.com/fmYc1bO.png http://i.imgur.com/331FaX6.png
Bitfury Washington DC Office
Washington DC Office 600 Pennsylvania Avenue Suite 300 Washington, D.C. 20003
http://bitfury.com/contacts https://archive.is/ugvII
Bitfury Chosen for Ernst & Young Blockchain Startup Challenge
Deloitte Unveils Plan to Build Blockchain-Based Digital Bank http://www.consultancy.uk/news/12237/deloitte-unveils-plan-to-build-blockchain-based-digital-bank https://archive.is/UJ8Q5
submitted by 5zh8FoCiZ to btc [link] [comments]

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Be Your Own Bitcoin Exchange Plan B 11

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