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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

Articles

Hard

  • More flexible
  • New does not (necessarily) work with old
  • Double spend risks

Soft

  • 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

NEM

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!
  • 0.5%
  • Only to Bitcoin
  • 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

TO CHECK OUT

Harmony

  • 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
    • more
  • Mosaic (59x speedup on most challenging benchmarks)

Speeding up consensus protocol 10x

  • Omniledger 13k tps with 1800 nodes (proven)

EOS

Zilliqa

  • $850M

Hashgraph

  • Raising $300m
  • $4-5B valuation

Thunder

  • Valued $100m

Dfinity

  • Raised $100m
  • $2b valuation

Kadena

  • Raised $12m

Algorand

  • Raised $4m

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

Lack of standardization

  • 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

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

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

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

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

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

  • 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

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

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

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

Similar blockchains

Ripple

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

Exchange platforms

Ark - ARK *

Home

Binance Coin - BNB (16) *

Videos

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

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

Blocknet - BLOCK *

Home

Github

Ether Delta

Komodo BarterDEX

Digital assets

Bytom - BTM (43)

Home

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

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

Videos

Focus

  • Non-connected people
  • Next billion crypto users

Key concepts

Offline

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

Online

  • P2P

Worldwide

  • China
  • Asia
  • UK
  • Switzerland
  • Brazil

5000 POS total (so far)

Supercomputers

Golem - GNT (51) *

Home

Videos

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

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

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

Key concepts

Supply chain

RFID’s

Parts

  1. Production
  2. Warehousing
  3. Logistics
  4. 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

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

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

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

Home

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

Videos

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

Videos

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

Videos

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

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

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

Contact

hello@dfinity.org

Videos

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

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

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

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

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

Qtum - QTUM (26)

Home

Videos

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

Videos

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

Cons

  • Bill users on a subscription-based model

Tezos - XTZ (19)

Home

Videos

History

  • Developed since 2014

Team

  • Founders
  • Arthur Breitman
  • Kathleen Breitman

Focus

Key concepts

Commonwealth

  • DAO

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

History

  • Beijing, 2014
  • May 31 2018 Mainnet launched

Team

  • CEO Justin Sun
  • Founded Peiwo APP

Videos

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

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

  • 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

Block size

8MB

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

  • 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

Digital Cash

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

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

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

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

Pros

  • Widely used
  • Low fees
  • Very functional

Decred - DCR (30)

Home

Videos

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

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

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

  • 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

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

  • Privacy

Key concepts

Proof of work

  • 5 different algorithms

Stealth addresses

  • Dash no
  • Verge yes

Problems

  • Hacked twice
  • 51%
  • Not much development?

Pros

  • Cheap

Zcash - ZEC (20)

Home

Videos

History

  • Not an open-source community
  • Company
  • 10% of coins for funding
  • 1% to non-profit organizations

Team

  • Zooko Wilcox

Focus

  • Anonymity (parties, transaction amounts)

Key concepts

Anonymity

  • 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)

Founders reward

  • Tax on mining rewards

Bitcoin HTTP, Zcash HTTPS

Transaction types

  • Transparent
  • Shielded

Address types

  • 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)