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ChainLink launches Mainnet to get data in and out of Ethereum smart contracts

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Blockchain may be one of the most promising technologies today, but that may just as well be the reason why there’s also a lot of FUD around it. Speculation and crypto-winter aside, however, there’s a number of technology issues to address before blockchains can get real, and data access is prominent among them.
In a nutshell, blockchains are not very efficient as a data storage and retrieval mechanism. This is why people have been experimenting with various approaches to use blockchains as a database, including altering its structure.
Regardless of how successful these turn out to be, however, one thing is certain: Most of the world’s data today does not live on a blockchain. The vast majority of application data live in some database, and some of that data may be accessed via APIs.
How, and why, would the world of databases and APIs talk to the world of blockchain? Enter ChainLink.
Smart contracts and the connectivity problem
You may have heard about smart contracts. You can think of smart contracts as programs that execute exactly as they are set up to by their creators on the Ethereum blockchain. Smart contracts enhance Ethereum with the ability to execute tamper-proof code, in addition to storing tamper-proof data, turning it to a "world computer."
Together, smart contracts and data form the building blocks for decentralized applications (Dapps) and even whole decentralized autonomous organizations (DAOs). There is a programming language (Solidity) used to develop smart contracts, as well as a development framework (Truffle) that can be used to build smart contract applications.
Despite the fact that this is still not a 100% mature stack, people are using it to develop Dapps and DAOs. Smart contracts can interact with each other, and they can also store and retrieve data on the blockchain. But what happens when they need to interact with the outside world, and retrieve (or store) data from/to databases or APIs?

The Smart Contract Connectivity Problem, as ChainLink defined it, is the inability of a smart contract to interact with any external data feed or other resource that is run outside the node network in which the smart contract itself is executed.
This lack of external connectivity is inherent to all smart contract networks, due to the method by which consensus is reached around blockchain transactions, and will therefore be an ongoing problem for all smart contract networks.
ChainLink, co-founded by CEO Sergey Nazarov and CTO Steve Ellis, aims to solve this problem by developing a so-called oracle, officially launching today. ZDNet connected with the ChainLink team to discuss what this is all about.
ChainLink, the blockchain oracle
An oracle is a gateway between a blockchain and the real world. Oracles can get data off the blockchain and pass it on to smart contracts. The problem with this, of course, is that oracles introduce the need for centralization and trust in the decentralized, trust-less world of blockchains.
ChainLink’s whitepaper, published in 2017, tries to address this on the technical level. Part of ChainLink’s implementation runs on-chain and part off-chain. There are provisions for Service Level Agreements (SLAs), mechanisms for data source selection, result aggregation, and reporting.
There is an API data providers can use to feed their data in ChainLink’s oracle. There are also decentralization approaches and security services outlined, to ensure that ChainLink is robust and secure. One of the things we inquired about was how close today’s launch is to the vision outlined in the ChainLink whitepaper [PDF].
The smart contract connectivity problem: how do smart contracts interoperate with data and APIs beyond the blockchain? Image: ChainLink
The ChainLink team noted that the initial launch is focused on allowing smart contracts to retrieve external data from ChainLink nodes based on the number of individual requests they create. While this is an essential first step, it does not fully implement all of the features discussed in the white paper. ChainLink believes that’s a process that can and should be gradually upgraded as development progresses.
In order to assist smart contract creators today, they went on to add, ChainLink provides documentation and contract examples on how to create requests to multiple oracles and aggregate responses. The Service Agreement Protocol, currently in development, will allow a requester to define parameters for their requests in a setup step, such that a single request can receive responses from multiple oracles.
In other words, there is a certain degree of technical forethought that has been built into this, although it’s not fully implemented yet. Part of it is there to ensure the oracle is resilient (i.e. it does not crash under heavy load), and part of it to ensure it’s decentralized (i.e. there’s no single point of failure/arbiter of the truth).
Building an ecosystem
ChainLink is launching with three endorsed oracles, including its own. The other teams are Fiews and LinkPool. These teams have been running a ChainLink node on the Ethereum test networks for around a year, and have assisted with the development of the ChainLink node. ChainLink noted they will also have an on-boarding process for endorsed ChainLink nodes to be listed in official documentation.
Other third parties are able to run ChainLink nodes themselves, as ChainLink code is open source. Third parties may use other listing services (currently in development) in order to receive requests from smart contracts.
Any service provider can use ChainLink oracles for their smart contracts. If someone wants to use their own data for their smart contracts, they are free to connect to their own data source. Furthermore, the ChainLink team added, this depends on your perspective:
ChainLink is not just providing the infrastructure to help the development of smart contracts, but also building an ecosystem around this itself. Image: ChainLink
"As a data provider, how do I sell my data to smart contracts? The answer is to create an external adapter for my API, run a ChainLink node, and allow smart contracts to create requests to my oracle. As a general node operator, how do I sell data for X API? They would either need to create an external adapter themselves, which may not be viable if they’re not a developer (which is not a requirement), or they can find an open source implementation of an external adapter for the API they’re wanting to provide. We’ve built the ChainLink node to be modular by-design, so external adapters can easily be added by node operators to extend the functionality of their node without needing to know how to write programs."
The ChainLink ecosystem, today and tomorrow
Part of the value ChainLink brings is by providing the infrastructure for anyone to run an oracle, and part of it comes from its own oracle and ecosystem. There have been various names flying around, including a proof of concept project with SHIFT, and alleged "white label" partners such as Salesforce and Microsoft Azure.
The SHIFT proof of concept pulled interest rates from five banks (Barclays, BNP Paribas, Fidelity, Societe Generale, and Santander) and fed the data into a smart contract, which was used to make a payment that translated into a SWIFT payment message.
ChainLink clarified there are three types of projects that the ecosystem: Data providers, platforms/blockchains, and projects that use ChainLink oracles. Although ChainLink refrained from pointing to a comprehensive list, they pointed to a Decrypt article which mentions many collaborators and projects. There is a lot of speculation in the industry, they added, and they only confirm when official.
ChainLink provides more than the technical infrastructure here — they also provide an instance of this infrastructure, with vetted data providers onboarded. ChainLink emphasized that they work with top data partners for officially created adapters such as crypto price data, supply chain, etc.
Essentially, there are two layers of selection there: One on the oracle network, and one within each oracle. Users can choose which oracle(s) to use in the oracle network, and oracle nodes can choose which external services to connect to.
This also poses some interesting technical challenges. Essentially, oracles will act as data hubs, with data flowing in and out of them. How will the different data providers and data streams be cataloged, integrated, and managed? And what about issues related to data freshness, correctness, and performance?
Data selection and schema matching
ChainLink currently operates with a schema system based on JSON Schema, to specify what inputs each adapter needs and how they should be formatted. Similarly, adapters specify an output schema to describe the format of each subtask’s output.
Schema management at scale with data coming from various domains and sources is a sufficiently researched and documented topic, but that does not make it easy to deal with in practice. Especially when using JSON Schema, which is not the most advanced solution when it comes to schema management.
ChainLink has been used in a proof of concept to clear payments with SHIFT and global banks. Image: ChainLink
So what happens when there is no sufficient metadata on the data flowing through ChainLink? Not to mention, even sufficient metadata can be erroneous / misleading. What happens if i connect a data provider and claim it’s about topic A, but others say it really is about topic B, or C, or D and E? ChainLink says this is where decentralization plays a key role in the oracle problem:
"Just like how smart contracts are secure because they’re ran on multiple machines (blockchain nodes), you can secure the inputs to your smart contracts by having that input retrieved by multiple ChainLink nodes. So if you’re a requester, and you want data from a particular API DPA, you define how many ChainLink nodes you want to retrieve that data. To further decentralize your inputs, and if there are additional data providers with the same topic of data, you could have additional ChainLink nodes retrieve from another API DPB to assist with validation."
However, we would argue that while that does indeed address the topic of data source selection, it does not address that of schema matching: The terms used to describe what DPA and DPB is about could be different, and yet their data could be about the same thing. Based on JSON Schema, without a mechanism to align the metadata in place, nobody would ever know.
Data flow
From a data architecture perspective, ChainLink looks like a data hub through which data will flow transiently. However, a published list of use cases, interacting with databases and data in the cloud is mentioned.
We wondered whether there are implementations of such use cases to show for today. Plus, if this takes off, the amount of data flowing through ChainLink will be considerable. Would ChainLink consider storing any of that data in the oracle, for example for caching?
ChainLink’s view is that they like to think of it as an on-chain protocol that allows smart contracts and node operators to work with one another in a trust-minimized way:
The ChainLink oracle acts as a data hub, enabling data source selection on 2 levels: oracle and external data sources. Image: ChainLink
"This means that any endpoint that a node operator can access can be used by a smart contract through our protocol. We have a number of working implementations that give smart contracts the ability to retrieve data from authenticated data sources. Storing or caching data within the oracle is not currently a consideration since there are a number of security concerns associated with that. Data providers already have the facilities to store data long-term, and have the history and reliability of providing that data."
And what about the other way round? If a smart contract wants to send data to an external source, rather than store it on the blockchain, can ChainLink do this?
A ChainLink node can relay information from a smart contract to an external source. However, this would introduce an array of issues, as storing data in an external system means the tamper-proof aspect of data storage on the blockchain no longer applies.
Conclusion
So how will development for smart contracts on ChainLink look like? Does it come down to writing Solidity — which is not the easiest thing in the world for most people? Currently smart contracts create their requests from on-chain, and that request is picked up by the ChainLink node.
In the near future, ChainLink said, they will allow for requests to be initiated from off-chain services directly to a ChainLink node. This allows for requests to be created faster than the typical block time of the Ethereum network.
It also opens the door for faster blockchains to receive data at their native speed. ChainLink nodes can already query data on other blockchains with external adapters, the only caveat is a requester would need to use a ChainLink node with connectivity to that blockchain.
All in all, this is a much welcome development for smart contracts, Ethereum, and blockchain at large. It means the next step in the evolution of this ecosystem is now possible.
Granted, not everything is rosy, and smart contract and oracle development is bound to hit some of the same issues tantalizing software development and data management for decades. Hopefully known solutions to those issues can eventually be applied to foster the growth of this ecosystem, too.
Blockchain may be one of the most promising technologies today, but that may just as well be the reason why […]
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Tron’s [TRX] DApp prowess increases in May as Ethereum and EOS are left in the dust

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The cryptocurrency industry has seen multiple sectors develop over the past couple of months with Decentralized Applications [DApps] being a hot commodity among specific organizations.
The Justin Sun-led Tron Foundation has been one of the major organizations involved in spearheading the DApp revolution with the currently 12th raked cryptocurrency company possessing more DApps than its closest competitors, EOS and Ethereum [ETH]. This lead in the DApp department was also reflected in the Foundation’s latest tweet which said:
“According to @dapp_review, as of May 27, new #Dapps on #TRON #Blockchain accounts for 31.4%, which is the fastest growing one compared with new #Dapps of other chains in last week. #TRX $TRX”
The DApp review conducted showed that if the number of new chains was counted, then Tron had 16 DApps while Ethereum launched 15 and EOS only had 5 DApps. Many DApp analysts have pointed out that games are the most popular category on the DApp list and that was again evidenced when 20 gaming Daps were launched compared to the 6 gambling DApps.
The field of DApps has seen a phenomenal boom when it comes to usage as another report showed that Tron DApps actually saw more than 100,000 active users utilizing the applications. This happened at the same time that the coin overtook Ethereum and EOS transactions.
Misha Lederman, a popular Tron proponent had said:
“100k users is a major achievement for TRON since TVM launch Oct 2018, but will be a blimp on the chart in the coming months as more sophisticated DApps attract #TRX users in the millions.”
Tron was also in the news recently when it surpassed 3 million accounts in less than a year. The number of accounts/addresses had clocked at 3,004,564 with the month of May contributing to an increase of accounts anywhere between 9000 and 17,000.
The Justin Sun-led Tron Foundation […]
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iExec to Work with France’s Largest Utility Company to Streamline Infrastructure with Ethereum App

Click here to view original web page at www.newsbtc.comDecentralised cloud computing project iExec has announced a partnership with one of the world’s largest utility companies. The French energy giant EDF hopes to overhaul its cloud-based infrastructure by building an application on the Ethereum blockchain.
GPUSPH will reportedly take advantage of “the decentralized cloud”. The app gets around Ethereum’s scalability issues by ensuring that any heavy computing is done off-chain.
EDF to Build on Ethereum to Optimise Infrastructure
The fifth largest utility company on earth has announced a partnership with the decentralised cloud computing firm iExec. The two have built out an application known as GPUSPH and deployed it on the Ethereum blockchain.
According to a press release by iExec, GPUSPH will be used to model fluids used by the energy supplier. The research aims to further optimise how dams are constructed as well as lava cooling techniques.
EDF is France’s largest and the planet’s fifth largest utility company.
The release goes on to detail how iExec will be used to address the shortcomings of Ethereum with regards scalability. It states that the “heavy computing… is done off-chain and does not overwhelm Ethereum.”
The Ethereum blockchain is then used to find a consensus on the validity of results and a hash is stored to the blockchain.
EDF reportedly stands to benefit from increased network resilience, performance, and transparency by choosing to work using the blockchain solution provided by iExec.
Gilles Deleuze, the blockchain engineer at EDF stated the following of the new partnership:
“In a wider perspective, the development of distributed computing is a credible scenario for the future, and blockchain may be a nice lever in this scenario. The plan is to continue with other open scientific codes requiring possibly other types of worker pools.”
The release goes on to state that this is the first of many proposed experiments that the two companies will work on.
Has the iExec Token Price Responded Favourably to the Partnership?
Despite having no discernible use other than to pay for the services of the company itself, iExec has its own token. It was launched via initial coin offering (ICO) in April 2017.
Although spending much of 2019 in a gradual ascent, the last couple of week have seen the price bleed from a yearly high of over 88c down to just less than 48c at the time of writing.
With such a large partnership being announced, you would have expected iExec RLC (RLC) to be one of the best performers of the day on overall green day across the market. However, this has not been the case. Apparently, it will take more than a partnership with one of the planet’s largest energy suppliers for iExec bag-holders to finally get to off load their holdings.
Tags:ethereumfranceiExec Play BTC Games, ETH Games, USDT Games, BCH Games, LTC Games

0x Teams With StarkWare to Bring Speed to Decentralized Exchanges

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A cryptographic solution called zero-knowledge proofs (ZKP) could help notoriously slow decentralized exchanges (DEXs) reach speeds comparable to more traditional platforms.
San Francisco-based DEX startup 0x is partnering with the Israeli software-as-service company StarkWare to test a ZKP solution called StarkDEX, which can process roughly 500 transactions per second.
StarkWare CEO Uri Kolodny told CoinDesk the goal is clear: “Non-custodial trading at scale.”
Speaking to how ZKPs could be implemented in the 0x DEX ecosystem, 0x marketing lead Matt Taylor told CoinDesk:
“Our goal is that by the end of this year we’ll have this in production, on mainnet, so that people can actually use this technology. … We intend to have this be a core part of the 0x DEX stack.”
Taylor said the 0x system has facilitated $713,000 worth of trades since it was founded in 2017. DEXs using 0x currently process between a few hundred and roughly 3,100 trades a day, according to 0xtracker.com, but scaling continues to be a challenge.
“A marketplace where only three trades per second can be settled is a very illiquid market,” Kolodny said of some networks’ current limitations.
Still, Kolodny told CoinDesk it will take months before this alpha test leads to a professional service for 0x relayers and other blockchain companies.
Stepping back, StarkWare attracted investment from ConsenSys Ventures, ethereum creator Vitalik Buterin and the Zcash company, to name a few. This startup’s ZKP expertise and solutions are so sought after that the Technion University, where StarkWare co-founder Eli Ben-Sasson also works as a professor, filed a lawsuit claiming Ben-Sasson is “getting rich” from the university’s intellectual property.
Regardless of legal disputes, the aim of StarkWare’s latest partnership is to enhance scalability across the industry. Taylor said 0x plans to use StarkDEX solutions to “scale our infrastructure as well as the infrastructure for the rest of the crypto economy.”
In September, ethereum heavyweights like Buterin will gather in Tel Aviv for a series of technical sessions hosted by StarkWare.
Said Kolodny:
“If we provide scalability engines for trading, or gaming, or any application that one wishes to run on the blockchain, you can use [StarkWare] computation that takes everything else you’re doing off-chain and achieve massive scale.”
Image: StarkWare co-founders (left to right) Eli Ben-Sasson, Alessandro Chiesa, Uri Kolodny and Michael Riabzev (courtesy of StarkWare)
San Francisco-based DEX startup 0x is partnering with the […]
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New Mobile App, Wallet or Social Network: What Will Block.One Announce on June 1st?

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EOS’s Block.One seems to be up for a big announcement – or more of them at least. Even though it still isn’t quite sure what it might reveal, there are some rumors about it.
Everything should be clear 1st of June in Washington, DC, but, from what we have learned – this could mean anything from new social network to new wallet. However, let’s start from the beginning. In just one year, EOS became one of the most popular platforms for blockchain-based DApps, by some measures outperforming even its closest competitor Ethereum.
The problem was, that no matter the popularity, EOS couldn’t find success among blockchains as in achieving mainstream recognition. It seems that people who created EOS, are now wanting to change that position.
Block.one CEO Brendan Blumer said that last June, Block.One delivered the world most performant Blockchain protocol – EOS. This June they are focused on delivery safety, alignment and decentralization to mainstream personal infrastructure that is, by his words, completely broken today. Dan Larimer, the creator of EOS, said:
“When the time comes, our marketing will be beyond anything seen in crypto. But before you can market you need an onboard strategy that can convert users and a service that can retain them…[Brendan] Blumer [the CEO of Block.one] has assembled a world-class team that is preparing to make big moves in June.”
He also made an appearance on Telegram saying:
“We are going to announce a date for when we will release the roadmap for Block.one.”
He also said that there will be several announcements, not just one.
However, certain rumors went ahead when on May 21st, Galaxy Digital Holdings received $71.2 million for their ordinary shares, a 123% return on their investment from Block.One.
Michael Novogratz, CEO and Founder of Galaxy Digital tweeted:
Want to set the record straight. Galaxy is still a shareholder in @block_one_ , We are a large holder of $EOS tokens, and we strongly believe in the leadership of @BrendanBlumer and @bytemaster7 Very excited for their June announcement. Took profit to rebalance our portfolio.— Michael Novogratz (@novogratz) May 23, 2019
And so, the countdown has begun. Block.one even created a website to hype their announcement. Although everyone is pretty much sick and tired of the ticking clocks (GotSatoshi and Craig Wright, remember?), it seems that this one will not be a scam after all.
But What Could It Be?
Reading Telegram most of the times give us better insight than just reading the news. So, we know for sure (or at least Larimer wrote so) that there will be “no government partnership” and “no Apple partnership” even though the latter was pretty much talked about.
Then, it might be an announcement of a new social media platform. It is already known that Block.one has recently obtained a trademark for a product called MEOS, which, according to the filing, is a social network. Larimer also asked on Telegram:
“Do you like MEOS?”
Also, his recent comments reveal that the company is “spending on blockchain-based social media” separately from other EOS venture capital activities. His comments also imply that scalability will play into the announcement, and massively onboarding users to a new social media platform could be a big part of that.
MEOS might also serve as sort of photo app and a tool for accessing EOS-based DApps. Additionally, the filing reveals that there will be tools for developers who want to build on top of the platform.
High Hopes
Also, there might be the case of developing mobile app and create a new wallet. Such a wallet could provide users with a way to spend money on EOS-based DApps or allow users to transfer tokens to certain recipients. However, EOS.IO has also expressed interest in something that most crypto wallets don’t provide: universal and “passwordless” authentication systems.
However, because of so much (mostly wrong) rumors, in May 23rd Larimer wrote:
“Please don’t overhype June 1. We have great news, and I’m excited about it. But overhyped will make even great news disappointment.”
It is interesting because just one minute after he asked:
“Is Vitalik on Telegram?”
Does that mean that he is trying to give him a warning or at least a slight stage fright is still not clear. However, if we consider the fact that the EOS network is capable of a more significant transaction each second than Ethereum, which perhaps gives that technical superiority it needs to onboard more users on its DApps, the real battle could be in sight.
After all, to question about whether Block.One prefers to operate at the protocol layer or will it also provide solutions at the application level (it’s own decentralized apps) he answered:
“One day BTC will probably run on Eosio chains.”
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Telegram Created New Programming Language for Its TON Network

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Telegram, an encrypted instant messaging service focused on privacy, has created a new programming language for its Telegram Open Network (TON). It has become known from the document published on the unofficial TON Telegram channel.
Fift Programming Language
The document that is believed to be prepared by Nikolai Durov, Telegram co-founder, reads about a new language that has got the name Fift. It is designed specifically for being used for the development and management of TON blockchain smart contracts. Moreover, it will be used to ensure interaction with the TON Virtual Machine (TVM) and to enhance its performance.
At the same time, TVM will have a task to execute smart contract code in the TON blockchain, which is necessary to support all processes and operations that required to analyze incoming messages and data as well as to create new messages and update persistent data.
Studying the document it is possible to find out some details about Fift, including the language’s basics and TON-specific operations, as well as a number of other issues.
It is known that Fift is a smart contract language. According to the document, this language is based on the already existing language called Forth, which is a high-level programming language. It is primarily an interpreter and possesses a command-line interface which is applied in Telegram.
TON Launch
Let us also remind you that this document has been revealed just after Telegram announced its plans to launch its long-awaited TON network in the third quarter of 2019. It is also expected that it will function similar to the Ethereum network hosting decentralized applications.
Though initially, when Telegram announced its plans to present its own blockchain, some skeptics had some doubts on whether the messaging service would manage to cope with this task, now its release is considered to be one of the significant events for the crypto and blockchain communities.
Earlier, Telegram made headlines when it raised $1.7 billion in its two private ICOs run last year, this impressive amount is one of the factors why so many people today are tracking the process of the network building.
This spring, it launched its private testing for a specific group of developers. Though it is said that no serious changes were introduced since the beta, some participants of the recent testing confirmed the high capacities of the TON network and its unbelievably high transaction speed. Nevertheless, further details were not revealed.
It is also known that in April, Telegram established cooperation with German financial services provider Wirecard to create unique digital financial tools that are expected to be added to the new network.
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Ethereum-Based OmigeGO (OMG) Makes Its Way To Gibraltar Crypto Exchange

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The Gibraltar Blockchain Exchange Has Added some support For The OmiseGo, OMG
The GBX, which is also referred to as the Gibraltar-Blockchain-Exchange, which is an institutional grade, that is insured and regulated token sale platform together with being a digital asset exchange. They have just gone ahead to announce a new addition which is the OMG, referred to as the OmiseGo. It has been added to the GBX-DAX, which is an exchange that has been developed for the professionals within the crypto trading market.
More On The OMG Network
The OMG will be having some trading pairs with the ETH, BTC and the USD straight on the GBX-DAX. It is a network that was established in the aims of facilitating proper inclusion together with interoperability. Plus, it will be able to offer users with a decentralized mechanism that can be used for the future in the financial networks along with the decentralized economies.
It will also allow the building, easy use of dApps, and scaling within the OMG network; this is emphasizing the need to establish transparency and easy access within the decentralized system. The OMG is an ERC-20 token, one that will allow for easy exchanges and transactions to take place within the network, all this happening across the different blockchain networks, as well as between different blockchains at the same time.
Ever since they were able to obtain the full DLT License that is from the GFSC, also referred to as the Gibraltar Finance Services Commissions. As a result, the GBX-DAX will become the very first insured and regulated Digital Asset Exchange one that will be owned by the traditional stock exchange, which is the GSX, Gibraltar Stock Exchange.
As a user on the GBX-DAX, you will have access to the growing catalog that consists of very high profile digital assets and also has the opportunity in participating in a token economy in an environment that has been built on good governance plus the best practices that have been brought over by the EU-regulated by the GSX.

The GBX , which is also referred to as the Gibraltar-Blockchain-Exchange , which is an institutional grade, […]
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Ethereum Scaling Tech Monoplasma Wants to Let Dapps Broadcast Crypto

Click here to view original web page at www.coindesk.comBlockchain data platform Streamr has officially released a new open-source ethereum scaling technology called Monoplasma.
Inspired by a pre-existing scaling solution called plasma, Monoplasma is different in that it focuses specifically on “one-to-many payments” in which users would need to “repeatedly distribute value to a large and dynamic set of ethereum addresses,” explained Henri Pihkala, CEO of Streamr.
Speaking to CoinDesk about use cases for the technology, Pihkala said Monoplasma isn’t just about revenue sharing. Rather, the technology is envisioned for open-source decentralized applications (dapps) looking to incorporate “dividend distributions, staking rewards, repeated airdrops,” and more.
Demonstrating the power of Monoplasma on stage, Pihkala showed how the tool can be used to drop small amounts of fake “unicorn” tokens into 200,000 addresses on a test version of the ethereum blockchain.
Marketed as a “special-purpose off-chain scaling solution,” Shiv Malik, head of communications for Streamr, likened the technology to “broadcasting money.”
“You can receive money, but you can’t send back the other way. That would be like trying to send a message to your TV,” Malik said.
As such, no double spends – where tokens are essentially counterfeited – are able to occur on a Monoplasma payment channel. “On the side channel, you can only earn money,” emphasized Pihkala.
Unidirectional Monoplasma payments system. Image courtesy of Streamr.
Streamr intends to use the technology to crowdsell user data on a blockchain. Once data from users is sold to a bidding company, payment will directly be pushed into users’ ethereum addresses.
Revealed last May, Streamr has partnered with a number of tech conglomerates including Hewlett Packard Enterprise and Finnish telecom company Nokia.
Now, all ethereum developers are encouraged to try out Monoplasma by downloading the public code repository on GitHub.
Pihkala concluded:
“If someone else finds use in [Monoplasma] that’s awesome, that’s what makes us happy. But at the very least, we’re going to build on top of it – meaning [Monoplasma] is going to be well maintained. It’s not about to be abandoned anytime soon.”
Streamr logo via CoinDesk archives
Inspired by a pre-existing scaling solution called plasma , Monoplasma is different in that it […]
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Telegram’s TON Crypto Project is Now 90% Complete

Click here to view original web page at ethereumworldnews.comThe Telegram Open Network (TON) project might go down in crypto history as being the most secretive yet well funded project to date. Last year, the Telegram ‘ICO’ raised a whopping $1.7 Billion by selling Gram tokens to an exclusive list of investors that included Benchmark, Sequoia Capital, and Kleiner Perkins Caufield & Byers.
News reaching Ethereum World News from The Block indicate that the Telegram Open Network (TON) is now 90% complete. The team at Telegram have released their latest investor update that shows they are making considerable progress and could launch a testnet as early as March this year. The initial launch of the testnet had been scheduled for January,2019.
The report goes on to inform that the Telegram team is working together with popular Asian exchanges to list the GRAM token as soon as the testnet goes live. Some of the exchanges mentioned are Huobi, Binance and OKEx. There is also news of Telegram negotiating potential partnerships with e-commerce, retail and other online service providers.
According to a leaked unofficial whitepaper, TON project’s vision is to create a cryptocurrency and ecosystem that meets the needs of the more than 200 Million Telegram users by integrating the blockchain network to the messaging app. The TON network will be scalable through sharding and capable of smart contracts for Decentralized applications.
TON will also employ a Proof-of-Stake approach with consensus mechanisms through a variant of the Byzantine Fault Tolerant Protocol. With time, the transactions load on the TON network has been projected to match or eclipse that of VISA/Mastercard.
Additionally, there will be an avenue for micropayments on the TON network and the possibility of a TON peer-to-peer storage network with torrent like access.
What are your thoughts on the Telegram Open Network (TON)? Will it pose a threat to other known networks such as Ethereum, TRON and even BitTorrent? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.
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