Vision5 : Blockchains

Key concepts

Dapp + token on Ethereum

Decentralized Prediction Market

Google the future
Predictions backed by $
People vote (with money)

Use cases

Company projects (Google, Microsoft) - internally
Austrian economics (mid 20th C)

Speed

6 mins average

Risk

Crowd mentality
Voting on what think others will vote on, rather than the best

Basic Attention Token - BAT (40)

Team

CEO the guy that invented JavaScript

Videos

Key concepts

BAT vs Brave Browser

Linked in with paying content creators through the Brave Browser

Problems

Seemingly deliberately misleading marketing
Token not integrated with the Brave browser
Illogical
Frustrating
Content providers not paid properly

Brave browser not work quite as well as Chrome
BAT token has been doing airdrops to the Brave browser

Paid content not a very sustainable model for the Internet

To receive BAT tokens (ERC-20), need to provide details, then create wallet in Uphold (for doing payment processing etc? / crypto processing)
Uphold really expensive - like Visa/MC

No alternative to Uphold for Brave browser

Pros

Linked with the Brave browser

P2P coins

Nano - NANO (23)

History

Was called Raiblocks

YouTube

Decentralized Thought

About

Designed to be solely P2P payment system
Slogan : Do one thing, and do it right

Near instant transactions
No transaction fees
No inflation
No miners
No incentive structure

Key concepts

Faucets

No ICO
Raidrops distributed through faucets
Faucets sites that say you’re not a bot

130M Raiblocks distributed
70M for development
200M burned

Personal blockchains

Every wallet has own personal blockchain
Lattice structure
When each transaction happens, two new entries
One on each person’s blockchain

Proof-of-work

Small PoW for each transaction
Included to prevent spamming of the network

Network consensus

DPoS

Speed

5 secs average

Pros

Seems clean
Not controversial

Fiat coins

Tether - USDT (8)

DAGs

IOTA - MIOTA (12)

Key concepts

Not a blockchain
Directed Acyclic Graph (DAG)
Centralized, closed system

Tangle

Tangle explained

Speed

3 mins average

Problems

Single core node
Cryptographic vulnerabilities in the past
Likely no quality testers on team
Slow

Payment processing

OmiseGO - OMG (22)

Videos

$25m ICO, turned down $100m

Articles

History

Omise existing company
Like Stripe
Across S.E. Asia
Integrated into websites
Well backed
Necessary service in that part of the world

Thailand (heavily centred there)
Japan
China
Philippines
Vietnam

Focus

Decentralized payments

Access
Scalability
Security

Key concepts

Combining banking services with the blockchain

Decentralized exchange
Liquidity provider mechanics
Clearing house messaging network
Asset-backed blockchain gateway
Wallet

Based on Ethereum for now

Smart contract?
Plasma for Ethereum

Pros

Solving an actual problem
It will at least

Solving a problem in SE Asia
Very difficult to transfer money between countries
Big need in SE Asia

Plenty of top advisors, including Vitalik Buterin

Ripple - XRP (3)

Home

ripple.com

History

2004-12 Ripplepay
Founded by Ryan Fugger
Financial service to provide payment options via a global network

Various people come together to create P2P system
September 2012 founded OpenCoin
Fugger handed over reins to Chris Larsen

2012-13 OpenCoin
Later Ripple Labs
Ripple Transaction Protocol
Enables the instant and direct transfer of money between two parties
Any type of currency can be transferred
Early investors included Google Ventures

1st July 2013 XRP Fund II (now XRP II) founded in South Carolina
Next day Ripple announced linking of Bitcoin and Ripple protocols via Bitcoin Bridge
October 2013 Ripple created further partnership with ZipZap
Deemed a threat to Western Union

2014-17 Focus on banking
July 2014 Ripple Labs proposed Codius, a project to develop a new smart contract system that was programming language agnostic
Lots of banks experimenting with Ripple Protocol

Since 2012 Ripple Labs have professed support for regulation of the crypto-currency market, as it helps businesses grow

In 2015 Ripple Labs fined by FinCEN for violations of the Bank Secrecy act, from additions in 2013
Ripple Labs agreed to only transact through registered Money Services Businesses (MSB’s)
Also added Anti Money-Laundering (AML) transaction monitoring to the network

13th June 2016 Ripple obtained a virtual currency license from the New York State Department of Financial Services
Becomes 4th company to obtain a BitLicense from

Key concepts

Reserve

Keep 20 XRP in reserve account
Used for non-native transactions
Helps with anti-spam

Bridge currency

Can act as a bridge between two currencies
Used if there’s no direct conversion possible
Ripple focused on being a currency exchange, not an alternative currency per se

Anti-spam

Transaction fees start at 0.00001 XPR for periodic ones
Higher transaction fees are charged if goes up to thousands of transactions per minute
Used to prevent overloading of the system

Drops

Min are drops
0.000001 XRP (1m drops per ripple)

Speed

4 secs average

Stellar - XLM (6)

Home

stellar.org

History

Forked from Ripple in 2014
Founder Jeb McCaleb had a different financial philosophy

Stellar Development Foundation (SDF) is a non-profit in Delaware
Creates Stellar Consensus Protocol (from Ripple Consensus Protocol) + OS documentation for implementation

SDF + David Mazieres (Standford Uni) created Federated Byzantine Agreement
Whitepaper released in April 2015
Upgraded network live in Nov 2015

Coins

STR replaced with XLM in 2015 after upgrade
100 billion coins originally
Used as intermediary coins (like XRP)

Focus

Financial platform
Speed
Bank payments AND people

Key concepts

Stellar Network

Decentralized distributed exchange

Federated Byzantine Agreement

Neo uses Practical Byzantine Fault Tolerance (PBFT)
FBA a different solution to the same problem
Look it up !!!

Inflation

Inflationary
1% added each year

Inflation pool

Coin-owners vote on who receives funds from inflationary pool (including fees)
More than 0.05% votes receive funds each week

YouTube

https://coinsutra.com/best-decentralized-exchanges-dex/

Similar blockchains

Ripple

Speed

5 secs average
More than 1000 tx/s

Fees

Funds from base fees added to the inflationary pool
Average fee = $0.000007

Partners

IBM (October 2017)
Deloitte (2016) - consulting firm
ICICI Bank (2016)

Pros

Exchange platforms

Ark - ARK *

Home

ark.io

Binance Coin - BNB (16) *

Videos

Coin FOMO

History

Created July 2017
ERC20

Key concepts

Binary + Finance = Binance

Chinese cryptocurrency exchange

One of the best crypto trading ecosystems out there

20m users

Buy-backs

20% of profits each quarter allocated to buy back tokens at the current market price
Will continue until 50% of the tokens are burned
Afterwards will have a stable value that will continue to appreciate over time

Usage of token

Currency for the exchange’s fees
50% discount on the first year of use
Exchange fee of 0.1%
Bitrex 0.25%
Pay 100% if you don’t already have the BNB, so is an incentive to buy now

Info platform
Advertising that goes on the platform
More to come

Price of token

Seems to closely follow Bitcoin

Binance Labs

$1B ecosystem

For pre-ICO
Financing
Advice

Pros

One of the very few coins to go up since January
1.4m exchange orders / s

Bisq

Home

bisq.network

Bitshares - BTS (33)

History

Key concepts

DAO’s

Decentralized exchange platform
Allows for the creation of DAO’s
Create shares, produce profits, and then re-distribute them as dividends to their shareholders

Delegated Proof-of-Stake

BITUSD

If think of as a company, then the products are a service
Bitshares the overall company

BITUSD - service under bitshares, not a separate cryptocurrency
Stable store of value
BITUSD very similar to Tether

Use cases

Ethereum like a tank
Bitshares like a sniper rifle (specialized)

Ethereum not so efficient
Bitshares good for high-frequency / volume trading

Trading
Derivatives market $700T globally
Small change could make big difference

Speed

2 secs average

Blocknet - BLOCK *

Home

blocknet.co

Github

https://github.com/BlocknetDX/BlockDX

Ether Delta

Komodo BarterDEX

Digital assets

Bytom - BTM (43)

Home

bytom.io

Videos

Focus

Digital assets

Key concepts

Decentralized assets

So you can :

Speculate
Trade
Gamble

3 layers

Data
Smart contract
Interaction

Comments

Not very interesting

NEM - XEM (17)

Project

nem.io

New Economic Movement

History

Launched March 2015
15 developers
30 marketers
Singapore

Developers pseudonymous
From Bitcoin Talk
UtopianFuture
Initially wanted to improve

Lon Wong president of NEM.io Foundation
Also founder and CEO of Dragonfly Fintech

Use cases

General

Can manage legal documents, energy usage, supply chains, real estate titles, cryptocurrencies

Financial transactions
Banks might be happier than a general-purpose platform
Replace PayPal / Visa

Could use similar model for a financial system
Pay small transaction fees to create global network
Having a dedicated financial network might make adoption better

Not libertarians’ dream
Not necessarily revolutionary
Functional, while we transition to something more revolutionary?

Japan

Second largest cryptocurrency

Mijin tested in December 2015 by Japan’s largest trust bank, SBI Sumishin Net Bank, owned by Sumitomo Mitsui Trust Holdings, to add to their online banking services.

Japanese Ministry of Agriculture uses to track shipments of meat

Venezuela

Sses for Petro cryptocurrency (PTR)
Prices in Petros and Bolivar Soberanos
1 Petro = 3,600 Bolivar Soberanos
Bs.S. Launched 20/08/2018

Hyperinflation not checked
Between 18 August and 21 August 2018, the inflation rate increased 16,560 percent from 48,760 percent to 65,320 percent

YouTube

Coins

XEM

Fixed at 8,999,999,999

Similar blockchains

Dash

Key concepts

Proof-of-Importance

Similar to Proof-of-Stake
Uses harvesters not miners
Lots of NEM > Can become a supernode
Supernode > Can vote
More coins > More votes

PoS > Specific amount of coins to be a validator
More caution in the network when it comes to nodes’ validation
Harvesters sort of become banks

Harvesters

People who stake their coins to assist in networt validation
People are paid to process transactions

10K XEM to be a harvester
3M XEM to be a supernode

Proof-of-Stake
Net transfers
Cluster nodes

Namespaces

Like web domains
Sub-namespaces

Mosaics

Digital assets
XEM is a mosaic on the NEM network
Anything you can sell or trade can become a mosaic

Smart Assets

NEM’s Smart Asset System allows devs to code NEM applications easily
More than just P2P transactions

Multisig

m of n

Mijin

Private blockchain that uses NEM tech

Speed

30 secs average

6s to show up in wallet
20s to confirm
3000/s (more than Visa)

Fees

100x less than Bitcoin
$0.10c / $1000

Visa : 2.2-2.9%
Paypal : 1.9-3.4%
Venmo : 3%
Nem : 0.01%

Pay to use the messaging service

Traceability

100% traceable and transparent

Pros

Low transaction fees
Inflation resistant (deflationary cryptocurrency)

Problems

On 26 January 2018, Japanese cryptocurrency exchange Coincheck, was the victim of a massive hack resulting in a loss of 523 million XEM coins, the native token of NEM, worth approximately $400 million

Nxt - NXT

History

First group to use DAGs

Focus

Shares
Crypto Assets

Key concepts

Proof-of-Stake

Lightweight

User rewards

Users rewarded for supporting the network
The more NXT you have, the more often will generate a block and rewarded with a fee

Alias system

Data storage on the chain

Decentralized asset exchange

Allow for decentralized services on top

Speed

Blocks produced every 60s on average

Offline

Pundi X - NPXS (45) *

Home

pundix.com

Videos

Crypto Cruising

Focus

Non-connected people
Next billion crypto users

Key concepts

Offline

XPoS (merchant’s point of sale device)
Go into shop

Online

Worldwide

China
Asia
UK
Switzerland
Brazil

5000 POS total (so far)

Supercomputers

Golem - GNT (51) *

Home

golem.network

Videos

The Golem Project

History

Key concept

Sharing computing power

Users can sell their redundant computer power to those that need it

P2P

Anyone can join
Nobody more important than anyone else

Uses Ethereum

Speed

5 mins average

Specialized platforms

Maker - MKR (32)

Videos

Focus

Reduce volatility
Debt

Key concepts

Smart contact on ETC blockchain

Stabilize bond

Known as a DAI
Through smart contacts called Collateralized Debt Positions (CDP)
MAKR = DAI + CDP

1 DAI = $1 USD

MAKR value attributed to the DAI bond

Pros

Relatively stable

Siacoin - SC (42)

Videos

Focus

Sharing hard drive space

Key concepts

Network dropbox

AirBnB of hard drive space

Contribution

Get paid

Encryption

User has key
Very strong

Pros

Users can share unused hard drive space
Cheaper for people to store their files

Decentralization and privacy
Don’t know the encryption level of Dropbox
Very strong encryption, spread over multiple computers

Cons

Dropbox has huge ecosystem
Not as many cool features as Dropbox / Google Drive yet

Steem - STEEM (36)

History

Speed

3 secs average

Waves - WAVES (38)

Videos

Focus

Creating own tokens

Key concepts

Create tokens

Costs 1 wave to create a token
For commodities

Smart contracts

Non Turing-complete

Pros

Cheap transfers

IoT smart contract platforms

Waltonchain - WTC (47)

Videos

Ready Set Crypto

Key concepts

Supply chain

RFID’s

Parts

Production
Warehousing
Logistics
Stores

Enterprise Resource Planning (ERP)

Already exist
But centralized

Putting onto a blockchain helps prevent counterfeits

Value Internet of Things (VOIT)

Digitizing of assets + blockchains

Use cases

Baggage
Deliveries

VeChain - VET (18)

Home

vechain.org

History

Focus

Supply chains
Counterfiting
Customer trust

Key concepts

Supply chain tracking

Track products on a supply chain
Combined IoT with blockchain
Digitizes the supply chain

Scanning

Scan QR code / barcode
App shows you everything you need to know about the product, including freshness
Tracks entire supply chain
Picks up data on products
Customer can be sure that the info is accurate

Anti-counterfits

Customers can check authenticity of products

Generic platform

Dapps
Smart contracts
ICOs

Double tokens

VET
Thor Power Tokens (interest created from stored VET)
TPT like GAS in Neo

When Thor Power Tokens spent, 70% taken out of circulation
30% awarded to authority masternodes

Node types

Economic (help with stability)
Weakest to strongest

1) Strenght node
2) Thunder node
3) Mjolnir node

Authority

4) Thrudhem node (authority masternode)

Partnerships

Renault
PWC
Quite a few others

Speed

6 mins average
10k tx/s (eventually)

Non-Turing-Complete platforms

MANY OTHERS TOO

Zilliqa - ZIL (31)

Videos

Key concepts

Smart contracts

Not Turing complete

Sharding

Practical Byzantine Fault Tolerance

Speed

2400 tps (3600 nodes)

Pros

High-profile fintech + banking experts partnerships + on team

Multi-chain smart contract platforms

Ardor - ARDR (63)

History

Nxt 2.0
Nxt foundation

Focus

For business

Speed

60 secs average

Key concepts

Solves blockchain bloat

Parent and child chain architecture

Only parent involved in the consensus
Smart contracts, etc, are stored on the child chains
Applications, asset exchange, voting, marketplace
Child chains can be pruned and removed from the blockchain
Only keep a cryptographic proof that they ever existed
New node only needs to d/l the transactions from the last 24 hours of the child chains
Size of the blockchain does not grow linearly with time (like with other blockchains)

Interesting applications
Child chain can focus on a specific use case

Lisk - LSK (21)

History

Many years in development
Move to mainnet on Aug 29th 2018

Videos

CryptoMar

Home

lisk.io

Key concepts

Blockchain platform

Very similar to Ethereum
Quite a few different use cases

SDK

Sidechain development kit
Not available at end of Aug 2018
Not sure when it will be bready

Programming language

JavaScript
Ethereum uses Solidity

Side chains

Lisk uses side chains
Ethereum uses smart contracts
All applications use their own separate blockchains
Ethereum runs everything on the main blockchain

Proof of work
Proof of stake
Not built into the main blockchain

Wordpress of blockchains

Pros

No congestion on the network for specific use cases
Very customizable

Great team
Managing funds well
Promoting their work, not the token, and let it speak for itself

MOAC - MOAC (46) *

Home

moac.io

Videos

BlockWolf

History

Comments

Really interesting
Could take the code and adapt it
Check out the cross-chain stuff

Genesis5 blockchain in Vision5

Key concepts

Mother of all chains

Bitcoin - coin
Etheruem - own token
MOAC - own blockchain

Tradeoff

Scalability
Security
Decentralization (EOS more centralized)

MOAC puts itself in the centre

Solution

Multi-chain architecture
Sharding

Main chain
Microchains (different protocols / setups)

Cross-chain functionality

Between different chains

Mining

Micro chains (whatever their creators decide)
Mother chain (PoW)

Inflation

150M now
Max at 210M by 2058

Problems

Small team
Not much money
Open-source code just seems like solidity contracts

Ontology - ONT (24)

Home

ont.io

Videos

Legit Crypto

History

Similarities

Interblocknet

Key concepts

Multi-chain

Distributed trust and collaboration project

Blockchain customization

Different public blockchains can be modified for different applications

Infrastructure

ONT Blockchains
ONT Blockchain Frameworks
ONT Interaction Protocols

Modules and protocols

ONT ID
ONT Data
ONT Scores (like credit score on the ONT blockchains)

Common applications

ONTO (self soverign of digital signatures)
ONT TSE (search)
ONT DDXF (distributed exchange framework)

Scenarios

Multi-source identity system for people
“ for objects
Distributed data exchange

Smart contract platforms

Aeternity - AE (37) *

Home

aeternity.com

Videos

Aeternity

Solves

Scalability
Privacy
Transaction speed

Key concepts

State channels

Interactions private, and off the main blockchain
Instant and private interactions
No limit to the volume of transactions that can be processed at the same time

On-chain enforcement only upon disagreement of the smart contracts
NICE!!!

Hybrid PoW-PoS system

Consensus by PoW
Can be mined on all devices, including smart phones

Governance works on PoS model, based on prediction markets

Oracle machine

Allow you to connect real-world data to smart contracts
Any real-world data can be included

Use cases

Financial applications
Supply chain management
Information market
Insurances
Gaming

Cardano - ADA (9)

Home

cardano.org

Team

Charles Hoskinson (Ethereum and Bitshares)
Mathematician and entrepreneur

History

Launched in September 2017
2 years of development
Built around peer-reviewed papers

Claims to be 3rd generation of cryptocurrency
1 - Bitcoin
2 - Ethereum + smart contracts
3 - Cardano + Iota (future proof)

Focus

Scalability

Transactions / second

Ouroboros
Proof-of-Stake

Time divided into epochs and slots
Network elects a slot leader for each slot
Only person that can mine a block for that slot
Slot leaders listen for transactions, verify them, and put them in a block
If slot leader doesn’t show up, needs to wait until re-elected by the network

Good scalability
Can divide into more epochs / slots
Can run multiple epochs in parallel

Network bandwidth

P2P network
Each peer in the network receives copy of all new transactions (not scalable)
Recursive InterNetwork Architecture (RINA)
Subnetworks that can communicate with each other if necessary

Data storage

Pruning
Compression
Partitioning

Will tackle this problem in 2018 / 2019

Interoperability

Many cryptos

Trying to be the “Internet of blockchains”
Direct competitor to Interblocknet ???

Banks and governments

Metadata for transactions
From whom?
To whom?
For what reason?

Opt-in
Allow user to choose if they want to put this info in
Would help make crypto world play nicer with the traditional banking world

Sustainability

Raise money with ICO

Not sustainable

Treasury

Receives a small fee for every transaction on the network
Developers petition improvement proposals
Community votes on the best ideas
Continuous improvements

Speed

5 mins average

Price

Jan 2018 $32B
Aug 2018 $2.3B

Quotes

Dan Larimer : Cardano is a 400lb bullet-proof vest that doesn’t stop bullets

Mark Zuckerberg : Great ideas are not fully formed until you start working on them

Problems

Too academic
Too much peer review
Needs to get out there first

Dfinity **

Home

dfinity.org

Contact

hello@dfinity.org

Videos

DFINITY

Coin Crunch

Focus

Internet computer

Key concepts

Threshold cryptography

Hundreds of nodes

Language-agnostic

Will be able to run lots of different languages

Capability-based security

Gas

Like in Ethereum

Wasm

Like EOS

Speed

2 blocks for finality
1s total

EOS - EOS (5)

History

Speed

1.5 secs average

Ethereum - ETH (2)

Plasma network

Pros

Big market
Big purchasing and marketing power
A lot of developers
Decentralized (companies like Consensus)

Fastish (15s/transaction)

Speed

6 mins average

Ethereum Classic - ETC (13)

ICON - ICX (29)

Home

icon.foundation

Videos

Daily Deals with Tim

Team

35 when started

Focus

Connect institutions through a blockchain network

Key concepts

Hyperconnect the world

Building a large decentralized network
Aims to connect real-life institutions, starting in Korea

Banks
Securities
Insurance
Hospital
Universities
more
The public

Smart contract

Loopchain

Connect together
ID, DAPP, DEX
Fully compatible with Bitcoin, Ethereum …

Partners

Loop (major Korean blockchain company)
Davinci (leading AI company)

IoT Chain - ITC

Home

iotchain.io

Videos

The Crypto Lark

Interview with CEO

Focus

Chinese team
Focused on the Chinese market
Based in Singapore

Security
Stability of the network
Controlling your own data
AI (promoting through data collected from the devices intercommunicating)

Awards

Blockchain excellence award
Davos World Economic Forum (2018)

Key concepts

Hybrid model

DAG with PBFT
Practical Byzantine Fault Tolerance (like Neo)

Fast and secure
Protect data ownership
Simpl payment verification

Hardware chip

Not just software - also a hardware chip
Solid chip creators
Plug and play devices

Tokens

ERC-20 token
Swap for the mainnet when it comes out

Intelligent network

Intelligent lighting
Intelligent transportation
Medical care
Intelligent household applicances
Intelligent factories
New energy

Right to use

Base on the ITC token

Data ownership

All devices will generate data
That data can be sold for ITC tokens
Companies buy the data
Usually private, but can say who it pertains to
IOTA not have this

Witness nodes

No master nodes

Scalability

Testnet doing 10000 tx/s
100000 tx/s when have mainnet

Fees

When send money, incurs a fee
Turning on/off smart lights does not incur a fee
Sending the data + trading in does incur a fee
Low fees?
IOTA not have this

Pros

Lots of top, experienced people
Seem intelligent
Aiming for Chinese market
Testnet seems solid (we’ll see how the mainnet goes)
Hardware integration
Lots of experience with smart hardware architecture

Interesting ideas

Working with an umbrella-sharing cooperative

NEO - NEO (15)

History

Speed

15 secs average

Qtum - QTUM (26)

Home

qtum.org

Videos

Crypto Coins

History

Singapore Qtum Foundation
Crowdsale in March-April 2017

Focus

Industry use cases

Mobile telecommunications
COunterfeit protection
Finance
Industrial logistics
Manufacturing

Low bandwidth
Run on toasters ?

Key concepts

Hybrid

Bitcoin
Ethereum
Proof of Stake

Take the best parts of Bitcoin, Etherum etc

Qtum Go Mobile

First decentralized use by mobiles

Account Abstraction Layer

Allows for multiple virtual machines
Including Ethereum Virtual Machine

Bridge between EVM and Unspent Transaction Output model of Bitcoin

Oracles and datafeeds

Allow developers to create smart contracts built around trusted sources of information

Use cases

Best parts of Bitcoin and Ethereum and combine into a business-friendly model
Integrates nicely with IoT

Pros

Compatible with major existing blockchain ecosystems
Can run on mobile devices (check???)
Lots of nodes (6023) - could be because of bitcoin?

RChain - RHOC (50)

Home

rchain.coop

Videos

i like money

Key concepts

Smart contracts

100,000 TPS

RhoLang

Custom programming language
Supposedly fast and secure

Platform

Scala
MongoDB !!!
P2P

Industrial-sized applications

Concurrent

Not parallel

Stratis - STRAT (49)

Videos

History

Use cases

Help prevent corruption
Records with lots of value

Birth records
DMV
Banking

Probably not for database / storing session data …

Key concepts

Smart contracts

C# & .Net

Speed

6 mins average

Cons

Bill users on a subscription-based model

Tezos - XTZ (19)

Home

tezos.com

Videos

History

Developed since 2014

Team

Founders
Arthur Breitman
Kathleen Breitman

Focus

Key concepts

Commonwealth

Smart contracts platform

Like Ethereum

Upgrade process

On-chain governance
Doesn’t require a fork
Hard forks as a last resort

Compensation structure

proposals for upgrading the platform / protocol

Consensus protocol

DPoS

Smart contracts

Written in Michelson
Facilitates formal verification of code mathematically

Little room for errors, e.g.
Medicine
Aeroplanes
Nuclear reactors

Cons

Can be difficult for programmers to understand the full process of formal verification of code
Can lead to a false sense of security

Tron - TRX (11)

Home

tron.network

History

Beijing, 2014
May 31 2018 Mainnet launched

Team

CEO Justin Sun
Founded Peiwo APP

Videos

Legit Crypto

Key concepts

Decentralized entertainment system

Premium content

People pay for premium content using TRX
Similar to Steemit using Steem token

Token creation

Like on Ethereum
Also Lisk, eventually
Create own ecosystem inside Tron

Ecosystem

A bit like Web5

Speed

5 mins average
2000 tx/s?

Pros

Not focusing on just profits
Want to create things that are of benefit to the community

Coins

Aeon - AEON

History

Fork of Monero

Focus

Privacy coin

Differences to Monero

Mobile-friendly
Different PoW (speedier)
Fast-syncing
Lightweight transfers

Speed

240s block time

Bitcoin - BTC (1)

History

Originally had no block size limit
Malicious actors created fake, long data, as a form of DoS
The fake blocks would be detected, but take a long time to be detected, slowing down the system
1MB block size limit introduced through a soft fork

Key concepts

FlexTrans

Flexible Transactions
Backwards incompatible
Changes how they are described to a tag system

Lightning Network

25/08/2018

Success rate low, especially for larger amounts
>$200 = 1% chance
>$20 = 5% chance

Chooses optimal path through thousands of intermediaries
Because intermediary nodes need to be online, effectively centralize around a few hubs

Speed

78 mins average

Bitcoin Cash - BCH (4)

Key concepts

Block size

8MB

Speed

60 mins average

Problems

Think that all scaling should be done on the main blockchain
Direct competitor to Bitcoin, and will likely lose
Bitcoin has better scaling plans

Bitcoin Diamond - BCD (44)

Home

btcd.io

Videos

The Naughty Investor

The Crypto Lark

History

Bitcoin hard fork

Team

Hidden on site

Focus

Privacy

Key concepts

Increased supply

210M tokens, not 21M

Mining algorithm

Great for GPU miners

10min, 8MB, segwit

Encryption

for privacy
Algorithm?

Cons

Not solving a problem
Don’t know who team is
Seems like a pump and dump scheme
More Bitcoin forks on the way
Plenty of privacy coins

Bitcoin Gold - BTG (28)

History

Hard fork from Bitcoin
October 24th 2017

Key concepts

Equihash

PoW
Memory-oriented
Zcash too
Security, privacy, ASIC miner resistance
Uses graphics processors

Problems

May 2018 Double spend (51% attack)
$18.6m USD transferred to Cryptocurrency Exchange
Then reverted in public ledger
Two other cryptocurrencies too

Equihash-based
No longer ASIC resistant
Bitcoin Gold
ZenCash
Zcash
Litecoin Cash

Bytecoin - BCN (27)

Videos

History

Started in 2012
Long history in privacy coin space

Focus

Privacy
Anonymous transactions

Key concepts

Proof of work

Protections

Protects wallet ID
Protects the amount being sent

Algorithm

Cryptonote
Resistant to ASICs
Minded by GPUs and CPUs

Based on Cryptonote

Note based on Bitcoin
Concepts of emission

Similar coins

Monero
Digital note
Pebblecoin
Dash

Speed

Mined every 2 mins

Problems

Was a bug in cryptonote that allowed people to create lots of money out of nothing
Was patched in Monero and Bytecoin (Cryptonote too???)

Dash - DASH (14)

Home

dash.org

Digital Cash

History

Launched as Xcoin in Jan 2014
Darkcoin soon after
Dash in March 2015

YouTube

Private send explained

Focus

Privacy
Transaction speed
Decentralized governance

Key concepts

Participants

Wallet-holders
Miners
Master nodes

Master nodes

Participants that put up min of 1000 Dash coins as collateral
Rewarded for providing additional level of governance to the network

Private send
Instant send
Decide how funds in the treasury are spent

Block reward splits

45% to miners
45% to the master nodes
10% to the treasury

Treasury

Funds projects that further the Dash platform
Voted on by the master nodes

Private send

Mixes transactions from multiple inputs to multiple outputs
Small fee by master nodes

Transaction amounts must be multiples of pre-determined amounts to allow for efficient mixing
0.01, 0.1, 1, 10 DASH

Used OpenSSL rand bytes to select a master node to do a mixing request
Doesn’t use recently used master nodes

Request sends denomination(s) and amounts, plus fee to master node
Various amounts added to the mixing queues
3 participants required for a mix
Sends input addresses and output addresses (empty?)

Transaction created
Sent initially to just the three inputs
Wallets check the transaction is correct and honest
Outputs = inputs
Input and output addresses are accurate
Won’t know the inputs and outputs of the other 2 people in the transaction

Once checked, each wallet signs with their private key
Each signs saying it’s OK to send without the other two knowing the private key

Once all 3 OK the transaction, broadcast to the network for real
If things are changed, the signatures will be invalid, and transaction won’t go through
In pending until goes through

Process can be repeated up to 8 times
Size of the uncertainty set increases

Collateral usually sent back
1/10 times it’s kept, to prevent abuse

Instant send

Near instant transactions
Lock inputs while being written to the blockchain

Speed

15 mins average
Transaction takes a few seconds
Confirmation takes a few minutes
Instantx - a second

Digibyte - DGB (35)

Videos

Key concepts

Altcoin

Super secure

Same as for nuclear codes

Dogecoin - DOGE (34)

Home

dogecoin.com

Videos

Andrew Sauls

History

2013
Billy Marcus
Wanted something other than for the Silk Road
“Fun” cryptocurrency
Started as a joke
Done stuff for charity

2014 price shoots up
Bitcoin plummets
All others too
Early 2017 crypto prices start to rise again

Key concepts

Privacy

Microtransactions

Very low fees
Very functional
Good for tipping

Support

Doge4water
NASCAR
Jamaican Bobsled team 2014 fund-raiser

Use cases

Tipping, especially on
Reddit
Twitter
Twitch

Competitors

Redcoin

Speed

1 min average

Pros

Widely used
Low fees
Very functional

Decred - DCR (30)

Home

decred.org

Videos

Daily Deals with Tim

Key concepts

Decentralized credit

Community-based governance in the blockchain

Hybrid mining system *

Provide a balance between the miners and the users

Development

Anyone can submit feature proposals
Funding comes from the blockchain

Governance

Layered
Extends beyone the miners and users
Complicated, but seems interesting

Decred Constitution

Comprehensive
Seems good

Payments to Litecoin

Instananeous
Low fees

Pros

Seems a bit more stable than many coins
Very open about where the %’s of coins come from
Allows anyone to participate in ecosystem
Lots of info

Cons

A bit complicated

Electroneum - ETN

Videos

Cointelegraph

History

First British crypto
Fork of Monero

Focus

Mobile gaming
Online gambling

Key concepts

App

Simplicity

Take technical out of technical knowledge
And knowledge ;-)

QR code scanning

For sending and receiving

Anonymity

Speed

75 mins average

Problems

DDoS hack that kept people out of wallet for several days
Slow takeoff

Investment

Worst
Much lower than when started

Horizen / Zencash - ZEN

Home

horizen.global

Videos

History

Formerly Zencash

Focus

Privacy
Scalability

Key concepts

Anonymity / privacy

To a degree?

Zk-snarks

From Zcash

IPFS

Used to publish info anonymously ???

Secure

7000 nodes
Node-to-node encryption

Problems

51% attack (June 2018)

Confusing how it can be used

Pros

Relatively stable price compared to many

Litecoin - LTC (7)

History

October 2011
Charlie Lee created it

May 2017 became first of top 5 cryptocurrencies to adopt segregated witness
Later in May first transaction on the Lightening Network

Key concepts

Bitcoin code

Just a modification of the original Bitcoin code
Not

Block time

Reduced block time from 10m to 2.5m (compared to Bitcoin)
Quicker transactions
Lower costs for transactions

Algorithm

First crypto to use s-criyt algorithm
See miner

Different kind of miner

When Bitcoin became popular, lots of hardware to specialize in SHA256
Took the emphasis away from desktop computers to ASIC’s
Litecoin needed to use a different kind of miner (desktop, for longer)

Specialized hardware

Antminers

Speed of change

General faster to adopt new technologies than Bitcoin
Reached a consenus about segwit and the Lightening network long before Bitcoin
Bitcoin like a giant tanker, and Litecoin like a speedboat

Videos