Vision5 : Blockchains
General
Ranks
For market cap on 25/08/2018
Creating new networks
To fit in with the same SMDNS
Still work with the original one too
Better terms
Network Value NOT Market Cap
Terms
Merkle Trees
Used in cryptography, IPFS, Btrfs, FZS
Ralph Merkle (1979)
Certificate transparency
Add 0x00, 0x01 … to the parts of a split file
Prevents creating alternative files on Merkle trees that have the same hash
Forks
More flexible
New does not (necessarily) work with old
Double spend risks
Less flexible
New works with old, but some old does not (necessarily) work with new
No double spend risks
Soft fork will win out in the end
Old miners will recognize that their blocks are being rejected, and upgrade
Nonce
ASIC
Application-Specific Integrated Circuit
Blocknet ideas
Transaction5
Basechain
New concepts
Proof-of-Regulation
Proof-of-Importance applied generally
Banks and other regulated financial institutions could have a higher level of acceptance because they are regulated
Governments similarly could have increased status
Service providers
Cryptocurrency payments
1%
To EUR (free SEPA)
To USD (expensive bank transfer)
To Advcash (fees then apply)
Very fast customer service, even on Sunday morning!
0.9%
To EUR bank account (1%)
1.9% total
International transfers
Best exchange rates for 2016-8
Based in Penzance
Can’t see rates on site
Not always the best rates
See rates on site
Articles
QUIC
OmniLedger
Mosaic Pull-Reduce
Speeding up transport 10x
QUIC (Quick UDP Internet Connection)
Bloom tables / filters (definitely no X and probably some Y in a set)
5G rather than 4G
At least 10x achieved
Speeding up system tools 10x
Parallel processing improvements
Kernel improvements with Unikernel
Mosaic (59x speedup on most challenging benchmarks)
Speeding up consensus protocol 10x
Omniledger 13k tps with 1800 nodes (proven)
Raising $300m
$4-5B valuation
Raised $100m
$2b valuation
Tokens / Dapps
0x - ZRX (25)
Home
Videos
Key concepts
Decentralized exchange protocol
Not an exchange
An Open Protocol For Decentralized Exchange On The Ethereum Blockchain
Leads to redundancy
Users won’t want to have 5 different tokens for 5 different apps
Parallel redundancy - different apps implementing the same functionality
Augur - REP (39)
Videos
Key concepts
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
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
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
YouTube
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
No ICO
Raidrops distributed through faucets
Faucets sites that say you’re not a bot
130M Raiblocks distributed
70M for development
200M burned
Every wallet has own personal blockchain
Lattice structure
When each transaction happens, two new entries
One on each person’s blockchain
Small PoW for each transaction
Included to prevent spamming of the network
Speed
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
Speed
Problems
Payment processing
OmiseGO - OMG (22)
Videos
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
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
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
Keep 20 XRP in reserve account
Used for non-native transactions
Helps with anti-spam
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
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
Stellar - XLM (6)
Home
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
Decentralized distributed exchange
Federated Byzantine Agreement
Neo uses Practical Byzantine Fault Tolerance (PBFT)
FBA a different solution to the same problem
Look it up !!!
Inflationary
1% added each year
Coin-owners vote on who receives funds from inflationary pool (including fees)
More than 0.05% votes receive funds each week
YouTube
Similar blockchains
Speed
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
Ark - ARK *
Home
Binance Coin - BNB (16) *
Videos
History
Key concepts
Binary + Finance = Binance
Chinese cryptocurrency exchange
One of the best crypto trading ecosystems out there
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
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
Seems to closely follow Bitcoin
Binance Labs
For pre-ICO
Financing
Advice
Pros
One of the very few coins to go up since January
1.4m exchange orders / s
Bisq
Home
Bitshares - BTS (33)
History
Key concepts
Decentralized exchange platform
Allows for the creation of DAO’s
Create shares, produce profits, and then re-distribute them as dividends to their shareholders
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
Blocknet - BLOCK *
Home
Github
Ether Delta
Komodo BarterDEX
Digital assets
Bytom - BTM (43)
Home
Videos
Focus
Key concepts
Data
Smart contract
Interaction
NEM - XEM (17)
Project
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
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?
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
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
Similar blockchains
Key concepts
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
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
Like web domains
Sub-namespaces
Digital assets
XEM is a mosaic on the NEM network
Anything you can sell or trade can become a mosaic
NEM’s Smart Asset System allows devs to code NEM applications easily
More than just P2P transactions
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
Focus
Key concepts
Users rewarded for supporting the network
The more NXT you have, the more often will generate a block and rewarded with a fee
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
Videos
Focus
Non-connected people
Next billion crypto users
Key concepts
XPoS (merchant’s point of sale device)
Go into shop
China
Asia
UK
Switzerland
Brazil
5000 POS total (so far)
Supercomputers
Golem - GNT (51) *
Home
Videos
History
Key concept
Users can sell their redundant computer power to those that need it
Anyone can join
Nobody more important than anyone else
Speed
Maker - MKR (32)
Videos
Focus
Key concepts
Smart contact on ETC blockchain
Known as a DAI
Through smart contacts called Collateralized Debt Positions (CDP)
MAKR = DAI + CDP
MAKR value attributed to the DAI bond
Pros
Siacoin - SC (42)
Videos
Focus
Key concepts
AirBnB of hard drive space
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
Waves - WAVES (38)
Videos
Focus
Key concepts
Costs 1 wave to create a token
For commodities
Pros
Waltonchain - WTC (47)
Videos
Key concepts
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
VeChain - VET (18)
Home
History
Focus
Supply chains
Counterfiting
Customer trust
Key concepts
Track products on a supply chain
Combined IoT with blockchain
Digitizes the supply chain
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
Customers can check authenticity of products
Dapps
Smart contracts
ICOs
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
Economic (help with stability)
Weakest to strongest
1) Strenght node
4) Thrudhem node (authority masternode)
Partnerships
Renault
PWC
Quite a few others
Speed
Zilliqa - ZIL (31)
Videos
Key concepts
Practical Byzantine Fault Tolerance
Speed
Pros
High-profile fintech + banking experts partnerships + on team
Ardor - ARDR (63)
History
Focus
Speed
Key concepts
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
Home
Key concepts
Very similar to Ethereum
Quite a few different use cases
Sidechain development kit
Not available at end of Aug 2018
Not sure when it will be bready
JavaScript
Ethereum uses Solidity
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
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
Videos
History
Really interesting
Could take the code and adapt it
Check out the cross-chain stuff
Genesis5 blockchain in Vision5
Key concepts
Bitcoin - coin
Etheruem - own token
MOAC - own blockchain
Scalability
Security
Decentralization (EOS more centralized)
MOAC puts itself in the centre
Multi-chain architecture
Sharding
Main chain
Microchains (different protocols / setups)
Cross-chain functionality
Micro chains (whatever their creators decide)
Mother chain (PoW)
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
Videos
History
Similarities
Key concepts
Distributed trust and collaboration project
Different public blockchains can be modified for different applications
ONT Blockchains
ONT Blockchain Frameworks
ONT Interaction Protocols
ONT ID
ONT Data
ONT Scores (like credit score on the ONT blockchains)
ONTO (self soverign of digital signatures)
ONT TSE (search)
ONT DDXF (distributed exchange framework)
Multi-source identity system for people
“ for objects
Distributed data exchange
Aeternity - AE (37) *
Home
Videos
Solves
Scalability
Privacy
Transaction speed
Key concepts
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!!!
Consensus by PoW
Can be mined on all devices, including smart phones
Governance works on PoS model, based on prediction markets
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
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
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
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
Pruning
Compression
Partitioning
Will tackle this problem in 2018 / 2019
Interoperability
Trying to be the “Internet of blockchains”
Direct competitor to Interblocknet ???
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
Receives a small fee for every transaction on the network
Developers petition improvement proposals
Community votes on the best ideas
Continuous improvements
Speed
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
Videos
Focus
Key concepts
Will be able to run lots of different languages
Capability-based security
Speed
2 blocks for finality
1s total
EOS - EOS (5)
History
Speed
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
Ethereum Classic - ETC (13)
ICON - ICX (29)
Home
Videos
Focus
Connect institutions through a blockchain network
Key concepts
Building a large decentralized network
Aims to connect real-life institutions, starting in Korea
Banks
Securities
Insurance
Hospital
Universities
more
The public
Connect together
ID, DAPP, DEX
Fully compatible with Bitcoin, Ethereum …
Partners
Loop (major Korean blockchain company)
Davinci (leading AI company)
IoT Chain - ITC
Home
Videos
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
DAG with PBFT
Practical Byzantine Fault Tolerance (like Neo)
Fast and secure
Protect data ownership
Simpl payment verification
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 lighting
Intelligent transportation
Medical care
Intelligent household applicances
Intelligent factories
New energy
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
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
Qtum - QTUM (26)
Home
Videos
History
Singapore Qtum Foundation
Crowdsale in March-April 2017
Focus
Mobile telecommunications
COunterfeit protection
Finance
Industrial logistics
Manufacturing
Low bandwidth
Run on toasters ?
Key concepts
Bitcoin
Ethereum
Proof of Stake
Take the best parts of Bitcoin, Etherum etc
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
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
Videos
Key concepts
Custom programming language
Supposedly fast and secure
Industrial-sized applications
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
Speed
Cons
Bill users on a subscription-based model
Tezos - XTZ (19)
Home
Videos
History
Team
Founders
Arthur Breitman
Kathleen Breitman
Focus
Key concepts
On-chain governance
Doesn’t require a fork
Hard forks as a last resort
proposals for upgrading the platform / protocol
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
History
Beijing, 2014
May 31 2018 Mainnet launched
Team
CEO Justin Sun
Founded Peiwo APP
Videos
Key concepts
Decentralized entertainment system
People pay for premium content using TRX
Similar to Steemit using Steem token
Like on Ethereum
Also Lisk, eventually
Create own ecosystem inside Tron
Speed
Pros
Not focusing on just profits
Want to create things that are of benefit to the community
Coins
Aeon - AEON
History
Focus
Mobile-friendly
Different PoW (speedier)
Fast-syncing
Lightweight transfers
Speed
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
Flexible Transactions
Backwards incompatible
Changes how they are described to a tag system
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
Bitcoin Cash - BCH (4)
Key concepts
Speed
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
Videos
History
Team
Focus
Key concepts
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
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
Protects wallet ID
Protects the amount being sent
Cryptonote
Resistant to ASICs
Minded by GPUs and CPUs
Note based on Bitcoin
Concepts of emission
Similar coins
Monero
Digital note
Pebblecoin
Dash
Speed
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
History
Launched as Xcoin in Jan 2014
Darkcoin soon after
Dash in March 2015
YouTube
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
Funds projects that further the Dash platform
Voted on by the master nodes
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
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
Same as for nuclear codes
Dogecoin - DOGE (34)
Home
Videos
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
Very low fees
Very functional
Good for tipping
Doge4water
NASCAR
Jamaican Bobsled team 2014 fund-raiser
Use cases
Tipping, especially on
Reddit
Twitter
Twitch
Competitors
Speed
Pros
Widely used
Low fees
Very functional
Decred - DCR (30)
Home
Videos
Key concepts
Community-based governance in the blockchain
Provide a balance between the miners and the users
Anyone can submit feature proposals
Funding comes from the blockchain
Layered
Extends beyone the miners and users
Complicated, but seems interesting
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
Electroneum - ETN
Videos
History
First British crypto
Fork of Monero
Focus
Mobile gaming
Online gambling
Key concepts
Take technical out of technical knowledge
And knowledge ;-)
For sending and receiving
Speed
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
Videos
History
Focus
Key concepts
Used to publish info anonymously ???
7000 nodes
Node-to-node encryption
Problems
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
Just a modification of the original Bitcoin code
Not
Reduced block time from 10m to 2.5m (compared to Bitcoin)
Quicker transactions
Lower costs for transactions
First crypto to use s-criyt algorithm
See 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)
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
Speed
Pros
People in the Bitcoin camp say ‘see what happens on Litecoin first’
Leader in the older blockchain technologies
Problems
Growth could be slowed by advances in Bitcoin
Benefits of Litecoin over Bitcoin less than in past because changes have been made
Depends on if transaction times and fees go down with the Lightening network
Monero - XMR (10)
History
Speed
Verge - XVG (41)
Home
Videos
Focus
Key concepts
Problems
Pros
Zcash - ZEC (20)
Home
Videos
History
Not an open-source community
Company
10% of coins for funding
1% to non-profit organizations
Team
Focus
Anonymity (parties, transaction amounts)
Key concepts
All information is encrypted
Sender
Recipient
Values
Zero-knowledge cryptograpgy (Zk-snark)
NOT AUTOMATIC
Proof-of-Construction
Allows the network to maintain a secure ledger of balances
Does not disclose parties or amounts involved in transactions
Uses zero knowledge proofs / cryptography
Needs to satisfy certain parameters
Completeness (if true an honest verifier can be convinced by an honest prover)
Soundness (if prover dishonest, verifier can’t be convinced)
Zero-knowledge (if statement true, the verifier won’t know what the statement says)
Bitcoin HTTP, Zcash HTTPS
Transparent (T-) Addresses
Shielded (Z-) Addresses
Online wallets tend to only support T-Addresses
Hardware wallets only T-Addresses
Exchange wallets only T-Addresses
Need to run local wallets for full private wallets
Speed
Questions
Details of the ZK-snark algorithm
Lists
Cryptonote coins
Bytecoin - BCN
Boolberry - BBR
Dashcoin - DSH (not DASH)
DigitalNote - XDN
DarkNetCoin - DCN
Fantomcoin - FCN
Monero - XMR
Pebblecoin - XPB
Quazarcoin - QCN
AEON
DoctorByte (DB)
Infinium-8 (INF8)
MonetaVerde (MCN)
Dosh (DOSH)
Magnatoj
RedWind (RD)
Tavos (XTV)