Insights from Ujo: The Challenges of Building on Ethereum ...
emberTime: ‘burning Nature’ (on UJO) - adespress.blog
Consensys on Ethereum
ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, and Diligence, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets.
r/Ethereum - I wrote this to explain Ethereum in depth to newbies. Please check for accuracy!
Hello ethereum - I'm currently in Singapore exploring all of the cool blockchain tech that's going on here. I'm also writing a blog that aims to explain blockchain technology simply to anyone whose interested. www.cryptoambit.com If you guys could spot check my Ethereum post for accuracy, I'd appreciate it. If you like it, would also appreciate some subscribers! Thanks By now, most people know Ethereum as the second most valuable cryptocurrency, currently valued at over $60 billion dollars. Well, it turns out that Ethereum isn't actually a cryptocurrency - it's a software platform that let's programmers build applications on top of blockchain technology. Within the ethereum platform, is a cryptocurrency called ether that is used to power applications built on the Ethereum blockchain. From Bitcoin to Ethereum Bitcoin uses a global network of computers that maintain a shared ledger called a blockchain that keeps track of who owns bitcoin. Once blockchain technology was introduced to the world, people realized that blockchains could be used to keep track of anything of value. In 2013, a 19 year old named Vitalik Buterin introduced the Ethereum white paper, which proposed an open source platform that would let programmers build blockchain applications that could facilitate the exchange of money, content, property, shares or anything of value. Much like with Satoshi Nakamoto's paper, Buterin's was met with widespread excitement from software developers around the world who began building toward the vision Buterin laid out. Much like Bitcoin, Ethereum isn't owned or controlled by any one person. Unlike Bitcoin, whose creator remains anonymous, Ethereum has a leader in Vitalik Buterin (pictured below). While Buterin doesn't control Ethereum in the way that a CEO does, his word carries tremendous weight in dictating the direction of the project - something that is considered a strength or a weakness, depending on who you ask. Smart Contracts The basic function that programs built on Ethereum perform are called smart contracts. Smart contracts are digital agreements that execute automatically based on real world data. An easy way to think of them is an "If-then statement." IF condition A exists, THEN perform function B. Let's say for example Grandma wants to make sure she never forgets to give Little Billy birthday money each year. She could write a smart contract that says IF it's Little Billy's birthday, THEN pay him $10 from Grandma's account. Once this contract is broadcast to the Ethereum network, it will execute automatically each year on Little Billy's birthday. Smart contracts have applications far beyond improving the reliability and efficiency of Grandmothers around the world. Another simple application of a smart contract is for rental payments: IF date = 1st of the month, THEN pay landlord rent amount. Processes that currently involve manual interactions between two parties can now be automated and the value can be moved in real time over the blockchain rather than settling days later as with traditional banking. A Real World Example Ethereum and smart contracts are a big deal because they have the ability to usher in what's been dubbed the "smart economy" - one in which slow manual processes prone to human error and deceit are replaced with automated processes that are completely transparent and trustworthy. A real world example that typifies the new "smart economy" is a project being run by a French insurance company called AXA. AXA offers a flight insurance product that pays out a policy holder in the event that a flight is delayed by two hours or more. It currently has a product in trial that will pay out insurance claims using smart contracts and the Ethereum blockchain. The smart contract is simple: IF flight is over two hours late, THEN pay policyholder. The smart contract is connected to a database that monitors flight times. If the database shows that the flight is over two hours late, the smart contract is triggered and the policyholder is paid automatically over the blockchain. Without the smart contract, the policyholder would have to file a claim and wait for the insurance company's claims department to process it, which could take anywhere from 1 to 2 weeks. With the smart contract, neither the insurance company nor the policyholder has to do anything. This also creates trust between the two parties because there are no grey areas - the customer can review the smart contract prior to purchasing the policy and feel comfortable that he will receive his claim in the event of a delay. Ethereum vs Ether As stated in the intro, Ethereum is a platform for building blockchain applications using smart contracts. What you may have just purchased on Coinbase is called Ether, which is the cryptocurrency that fuels the Ethereum network. Ether functions more like a digital commodity than a digital currency. Just like you need gasoline to fuel your car, you need Ether to run applications on the Ethereum blockchain. In the Grandmother example cited above, Grandma would have to purchase small amounts of Ether to fuel her smart contract that pays Little Billy his birthday money. The Ethereum blockchain functions in the same way as the Bitcoin blockchain: a network of computers run software that validates transactions through majority consensus. The people running these computers are called miners. Bitcoin miners are compensated for their resources by being paid in Bitcoin. Ethereum miners are compensated in Ether. On Little Billy's birthday, Grandma's ether transaction fee will go to whichever miner adds the block containing Grandma's transaction to the blockchain. That miner will also receive new Ether in the process. The same supply/demand economics that apply to commodities like oil and gas also apply to Ether. Oil is valuable because it powers many of the things we use in our everyday life - it heats our homes and fuels our engines. The more people and enterprises that rely on Ethereum based applications, the higher the demand will be for Ether which will increase its value. As with all cryptocurrencies, there's plenty of speculation baked into the price - speculation that the demand for Ether will increase in the future. Since Ether is valuable, exchangeable and transferable, certain merchants are also starting to accept it as a currency. dApps - Decentralized Apps Applications that run smart contracts on the Ethereum blockchain are called "dApps," or decentralized apps. Just as any app developer can build apps on top of Apple's IOS operating system, developers can build on top of Ethereum's blockchain infrastructure. To the end user of a dApp, it might not look and feel any different than the apps you use today. It's the underlying blockchain infrastructure that make them different. Since dApps function on top of the blockchain, they can be used to transfer value peer-to-peer. To return to our Grandmother example, there could be a dApp that Granny can download that lets her schedule Little Billy's birthday payments without having to code the smart contract herself. dApps are also completely open sourced so other people can access the code and build on top of them. Someone could take the code to the birthday payment dApp and add the ability for Grandma to add a note that says, "Happy Birthday Billy!" Running dApps on the blockchain also offers added security benefits. Since the transactions are distributed and encrypted across the Ethereum blockchain, there is no central place for a hacker to breach and gain access to all of the world's Grandmother to grandson birthday payment data. At this point, I'm really beating the GrandmotheLittle Billy example to death because I think it represents a simple illustration for the kinds of applications that can be built on the Ethereum blockchain. In reality, the dApps that are being built are much more complex. Here are a few examples:
Weifund - blockchain crowdfunding: Users can launch traditional crowdfunding campaigns, but through the use of smart contracts, backers can gain a financial stake in the project. If an indie film gets funded on Weifund, a backer who financed 10% of the project can collect 10% of the film's revenues. Payments will be issued in real time as the film generates revenue.
Ujo Music - Music licensing via the blockchain: An artist can create an original song and register it on Ujo's platform and set their own licensing terms. If a film producer wants to use that song in a movie, they can purchase the rights based on the terms set by the artist who will then get paid directly. This erases the need for industry middlemen like Warner Brothers who end up taking the lion's share of their artist's profits.
Virtue Poker - Online poker secured by the blockchain: At the height of it's popularity, online poker platforms like PokerStars were marred with issues that ranged from deck rigging to the abuse of player funds held by the company. Virtue Poker using Ethereum allows players to fund their bets directly, insuring that no central party can access and misappropriate player money. Their code is open sourced so that users can understand how hands are dealt, insuring that no one can rig the deck. Lastly, players are paid out their winnings in real time over the blockchain so no more waiting weeks for a check to come in the mail.
Ethereum Tokens So now that you understand that Ethereum is a network for building decentralized applications that require a cryptocurrency called Ether to run, I'm going to introduce a confusing concept. Many dApps built on Ethereum have their own cryptocurrencies or "tokens." In order to interact with the dApps, customers need to purchase the dApp's native token. Here's a helpful analogy I came across - when you go to a waterpark, you pay the admission fee and in return, you get a wristband. That wristband gives you the ability to ride the waterslides in the water park. With certain dApps, the token is the wristband, and a user must purchase it to interact with whatever the dApp offers. Let's take a dApp called Golem as an example. Golem lets people rent out their excess computing power to people who need it - kind of like a computer AirBnb. To cite this article from Laura Shin, if I'm a computer graphics artist that wants to render some kind of computationally intense animation, I can purchase Golem tokens that let me tap into the Golem network to generate my animation. I then pay the people who are renting me their computers with the Golem tokens. The Golem token is a form of smart contract and this transaction is recorded on the Ethereum blockchain. Since Golem tokens are also a cryptocurrency, they can be traded on the free market. If I'm a speculator who has no intention of using the Golem network to rent computing power, I can still buy the Golem token on an exchange in hopes that it appreciates in value. Like bitcoin, there is a fixed supply of Golem tokens so if the demand for the service increases, so will the value of the token. If I bought Golem at its original price of around 1 penny and held it to today, I would have made 35X my initial investment since Golem tokens currently trade around 35 cents a piece. ICOs ICO stands for, "Initial Coin Offering" which is a fundraising mechanism for cryptocurrencies which has exploded in popularity this year - the majority of them are held on the Ethereum network. Similar to a kickstarter campaign, they allow entrepreneurs to raise money for projects by giving investors an early opportunity to purchase the cryptocurrency before the final product has been built. If the project is successful, the value of the cryptocurrency will rise in value and early investors can sell it on the open market for a profit. ICOs have stirred up a lot of controversy because they represent a risky proposition with zero investor protection. Let's say I wanted to build a casino and to finance it, I gave investors the opportunity to buy chips that can be used at my roulette tables once the casino opened. If you bought $100K in roulette chips from me and I decide that I no longer want to build the casino, you're stuck holding worthless chips. If investors don't do their due diligence, they may end up buying tokens for a project whose creators never intended on building it in he first place - the creators walk away with the money and the investors have no way of recouping their funds. On the other hand, early investors in projects that go on to be successful have the opportunity to make enormous returns. For example, people who invested $1,000 in the Golem ICO would be sitting on $35,000 at it's current price of $0.35 - if it ever goes to $10, they're all millionaires. Another positive aspect of ICOs is that they let anyone, rich or poor get involved in early stage investing. To invest in a company like Twitter or Facebook pre-IPO (initial public offering), you need to be an accredited investor - this basically means you're already a rich person. With ICOs, all you need is an internet connection and a little bit of money and you have the potential to become wealthy by investing in the right projects. Far From Perfect Ethereum has the potential to change the way humans transact with one another but it is still a very young technology and it hasn't been without its problems. While the blockchain architecture underlying the Ethereum network is secure, not all of the applications built on top of it are. Faulty code can and has made applications vulnerable to hacking and malfunctions. Here are two prime examples: DAO Hack - DAO was a dApp built on Ethereum that enabled crowd based venture capital. DAO token holders were given the right to vote on projects they wanted to support - if projects went on to be successful, DAO token holders would receive financial rewards. The DAO ICO received $168 million in funding. The DAO software was hosted on the Ethereum blockchain and was publically visible by all. A hacker spotted a flaw in the DAO's code that enabled him to route $55M in ether held by the DAO into an account that he controlled. The Ethereum team had do do something called a hard fork (something I won't get into now) to reverse return the stolen funds. Parity Wallet Freeze - Parity is a wallet where people store Ether. A flaw in Parity's code let a user delete a specific line of code that was necessary for accessing funds in a Parity wallet. This led to $280 million dollars worth of ether being frozen - it hasn't been stolen but it can't be accessed either. Parity Technologies has proposed another hard fork to correct the issue - something that is sure to divide the Ethereum community and rattle user confidence. Despite the world changing implications that Ethereum dApps and smart contracts have, the trouble is that any programmer can write them - if they aren't written properly, they can behave in unintended ways and be exploited like in the above listed examples. Ethereum is still a very young network and security issues with dApps and smart contracts will have to be sorted out if its to reach its true aspirations. Leading The Decentralized Revolution “Ethereum aims to take the promise of decentralization, openness and security that is at the core of blockchain technology and brings it to almost anything that can be computed.” - Vitalik Buterin With dApps, smart contracts and blockchain technology, Ethereum is leading the decentralized revolution. Bitcoin is the world's first decentralized currency, that operates on a global network of computers outside of central intermediaries. Ethereum gives programmers a platform to develop a decentralized version of just about anything. Decentralized networks like Ethereum have the power to remove the intermediaries that currently exist between producer and consumer. Let's take a company like Uber. Uber is a platform that brings people who need rides together with people who have cars. To facilitate this interaction, Uber collects 20% of every ride. With Ethereum and blockchain technology, there is nothing to prevent a bunch of software developers from writing a dApp that creates a decentralized Uber. Instead of 20% per ride, transaction fees are paid to the network and the driver takes home the lions share of the transaction. Tokens can be issued that represent ownership in the network. Coders who work on improving the network can get paid for their efforts in ownership tokens. Non-technical people can come up with marketing campaigns that spread awareness for the network and also get compensated in ownership tokens. As the decentralized Uber network grows and improves, the value of its ownership token increases, rewarding the people that built it. The result is whats referred to as a "Decentralized Autonomous Organization" and theres a strong possibility that DAOs replace a lot of the world's biggest corporations. This may sound like a radical concept but blockchain technology enables these kinds of decentralized organizations to exist - Ethereum provides the tools for people to go out and build them.
Inside the brand new past, we had been reading approximately debates and scandals surrounding the growing big type of hacking, breaches and statistics leaks. This has made information and privacy a top hassle, especially wherein coins is worried, considering the reality that people are increasingly more safeguarding the information they proportion on-line. But, the answer to this trap 22 situation is quite easy – blockchain technology. Blockchain is a ultra-present day introduction to the area of virtual generation. Superior in 2008 with the aid of combining present generation and making use of it in a contemporary, unorthodox manner, this apparently fancy phrase has taken the arena thru typhoon and appears to have prolonged itself to all essential and supplementary spheres associated with era. And now is a better time than ever to consist of blockchain into the U.K industries. The motive? There are many industries that could revel in using blockchain. As an example, the pnb rip-off could have been resolved with blockchain, if Digital Marketing Company in Cardiff were applied. Blockchain works via a tool in which inside the records is saved in a centralised location which may be damaged down into one-of-a-type blocks unfold all through the chain. Every person can get proper of entry to it and it is not held through way of a unmarried entity. One of the amazing analogies describing how blockchain era works is evaluating a microsoft phrase file to a Google document. Everybody who knows Google scientific medical doctors can understand blockchain. How databases artwork these days is that a person sends a replica of the file and waits until the recipient makes the specified modifications. The apparent problem with that is the time constraint except different elements like extended price, reduced usual performance and so forth. Blockchain modified into created to remedy this hassle and it has sincerely succeeded to a splendid quantity in reaching the same. However the question is, how can blockchain be applied in digital marketing? Inside the modern-day digital marketing version, the humans are absolutely beneath the oversight of the marketer. They've got little to no control over their private data. The facts from the utilization behavior of online customers is saved and made available to entrepreneurs and businesses for later use. Agree with the privateness issues of humans who have already witnessed significant misuse of records and awesome cybercrimes together with records-theft, identity-theft, cyber-terrorism and so forth. The issues that entrepreneurs face are similarly alarming with terrific heads of companies and immoderate-degree businessmen calling out marketing agencies for their widespread misuse of facts and insufficient measures taken to guard it in the first area. With such an escalating state of affairs over digital marketing techniques and practices, entrepreneurs have commenced looking for options. Enter blockchain. The contemporary-day commercial enterprise organization version makes use of a mediator (which incorporates facebook or Google) between the client and the marketer. Blockchain can act as an involuntary regulator that would assist in casting off the middle-man. There are applications together with courageous and blockstack which use blockchain technology to offer more autonomy to purchasers. With blockstack, the purchaser can disguise his identification from the seller, therefore controlling how, while and what type of of his non-public records is used. Marketers-input-blockchain Even though the purchaser can also have the better advantage, marketers will in reality revel in better fine leads regardless of the lower in variety. This can bring about potentially insane conversion costs, lessen marketing charges and additionally streamline the whole Digital Marketing Company Cardiff approach because of the fact the transaction takes region among without a doubt the marketer and the client. A few areas wherein blockchain can be used: • Finance: way to blockchain, the accessibility of price range might be immediate and without disputes at some point of transactions. Cryptocurrency is the product of blockchain generation, that may assist to promote cashless banking in a huge way. • Market: blockchain institutes validity and agreement of each occasions, even earlier than a transaction takes area. Therefore, fraudulent transactions within the market may be removed without a doubt, way to blockchain. • Social media: due to the fact social media is a dominant space in the virtual international in which customers connect to their circles, manufacturers have converted social media as a excessive channel to reap their intention agency. As a end result, incorporating blockchain into social media can not handiest appreciably alternate the marketing strategies, but moreover enhance the do not forget of customers in phrases of social media usage. Right here are a few a method via which blockchain is already transforming digital marketing: • The “tiny human” is a track by means of manner of british singer imogen heap which was launched on ujo music – a blockchain powered website. It we could the clients no longer only purchase the song but additionally the tempo, key, and stem of the music through the cryptocurrency ether. Imogen-heap-ujo-ethereum • Nyiax nowadays evolved a blockchain based absolutely ad trade platform in partnership with nasdaq. • Bitclave, a blockchain based absolutely begin-up is an example of decentralized search engines like Google like Google that provide blockchain based completely surely privateness to its users. • Steem, a social media platform based on blockchain era promotes its customers to generate and craft content marketing fabric marketing by way of way of supplying reward payments for the superb content marketing. This has confirmed the outstanding manner to interact clients on social media. Actualizing blockchain generation is probably going to lessen the price of ad frauds and prompt advertisers to get the real fee for the investments. This may hold tens of hundreds of lots for the ad agency. Coming again to the pnb rip-off, right here’s how blockchain may additionally need to have resolved it. Clever settlement is a key function that might help prevent and find fraud. Inside the context of banking, clever agreement or blockchain agreement or Digital Marketing Agencies in Cardiff settlement, is a software able to digitally facilitating, verifying and implementing the negotiation or performance of an agreement. Blockchain and associated smart contracts, if included to the economic group’s environment can help preserve song of all the records and any adjustments made will go away a paper trial for easy auditing. In the end, no transactions can be achieved illegally or secretively. The direction ahead Evaluating the blessings of blockchain shows that it going to play a great position in virtual generation place within the future. But, the query arises – at the same time as? Whether or not blockchain has been drastically observed thru the marketers or no longer, isn't a subject now. Because of the reality, clever entrepreneurs have located out that the achievement of any virtual marketing method in the future is primarily based at the early adoption of blockchain technology. https://progettovesuvio.it/blogs/3878/1997/how-hashtags-work-on-social-media FOLLOW US: -Facebook,Twitter,LinkedIn,YouTube
Ujo music streaming platform uses Connext to pay artists in Dai 🎵
Ujo, the decentralized music platform, is made with the artist in mind. By taking out the middle man, the artist can be paid directly through the Ethereum network. In December they released the complete public portal for Ujo. Now with their recent partnership with Connext, artists can now be paid faster by using the Ethereum sidechain. In this brief technical overview, the Ujo team explains how unlocking the power of a decentralized stablecoin like Dai can help speed transactions. ⚡️ The team is giving $1 in Dai to a select amount of the first users to register or log in. This will go directly the artists fro each of their streams. You can even connect your Dai card to your Ujo account. 💳 Check out their demo below and register here. https://reddit.com/link/b6l6mx/video/hn8cihhayvo21/player
NEWs To Come - last updated - April 5th, 2016 Ethereum’s ecosystem is growing so quickly, very exciting news has a habit of coming out of nowhere. That said, there are more than a few things to have on our radar. Thanks to help from this community, here’s a current list. As always, what am I missing?
Our faq page may also be helpful for many common questions connected to the news listed below.
Ethereum Blockchain Development
Metropolis - Includes user friendly Mist Browser and likely a light client.
Serenity - Major scalability improvement and Casper
With Casper, issuance of ETH drops between 0-2m a year, depending on staking rewards (think, a crypto version of dividends more than Bitcoin's mining).
Synereo partnership with a important update. "Synereo and Ethereum now have an end to end spec of a correct, fault tolerant architecture that is sharded, i.e. scales".
Sharding development news. Sharding is a game changer for Ethereum and could allow it to 10000+ transactions a second (Visa currently handles 2000 per second). While its success is starting to look inevitable, more specific news should be watched carefully.
Client updates - Ethereum’s clients are wide ranging - Go, C++, Python, Rust, Java, Ruby, .net. This allows Ethereum to attract developers with a wide range of programming backgrounds and empowers Ethereum for more applications. It was a VERY smart strategy by the founders of Ethereum. Watching the news for client updates is important.
Coin relays and interoperability One very powerful aspect of Ethereum’s blockchain is it allows both formal relays between blockchains as well as general interoperability between chains. Relays allow Ethereum to empower other blockchains, basically letting these more classic chains (like Bitcoin and Dogecoin) use Ethereum as a service for smart contracts. This “bonded sidechain” is more powerful/flexible path to using smart contracts than building non-currency agnostic chains. Similarly, interoperability is a classic concept in software development with over 30 years of history. Ethereum’s Virtual Machine (EVM) greatly facilitates multi-chain interoperability – which could allow private chains to communicate with Ethereum’s public chain. Basically, Ethereum facilitates “chaining all the things”. In other words, even future private chains could interoperate with the Ethereum public blockchain to have a gateway between their secured private chain and the more global public chain. Private chain development is a GOOD thing under this model, even if that private chain is not an Ethereum fork. Current examples
Public Dapps and/or ventures to keep an eye on Ethereum ecosystem is growing in unbelievable way with well over a 100 DApps. Below are some DApps and ventures that have been commonly discussed and seem to be generating news sooner than later.
Many of Ethereum's 100+ DApps will fail, but it only takes one to succeed to bring Ethereum to the mainstream. That said, sadly, there will also be scams. We should never forget Bitcoin's NeoBee or any of the MANY failed exchanges. As a community, we'll want to keep a close eye out in more ways than one. Be enthusiastic but critical - with transparency being absolutely key to trust. Developer tools to keep an eye on
Eth(Emedded) "Providing successful builds of Ethereum Clients for multiple, Linux based, ARM embedded devices"
Potential surprises that are not really surprises
Anything China – ETH's value has largely been independent of anything to do with China, that must inevitability change.
OKcoin inclusion (largest exchange in China, insane history with price boosts)
Gemini inclusion (New Yorkers access to ETH)
Parting statement Ethereum has essentially a monopoly on smart contracts, and from the list above, it should be clear that it has built a remarkable network effect around this ecosystem. It is a disruptive technology, that fosters synergies, and when put in a greater perspective, it’s market cap remains quite tiny, especially when you think of the relative size of the growing community. Please let me know if there is something you'd like to see.
Question: the 3 days of devcon are over. Are people interested in reports on the next 3 days of international Blockchain week (demo day + 2 days of global Blockchain summit) http://www.blockchainweek2016.org `
The buzz during the day was around the "stick puzzle" that Bok Khoo was giving out to people. It is just a stick, with a loop of string. He gets you to turn away, he uses "the trick" to put it onto your bag and then you try to get it off. The WeChat channel was just filled with everyone asking where they can get it, and the screaming that they can't figure it out. Only about 5 people reported they were able to solve it (I haven't yet) http://imgur.com/mYfJQP4http://imgur.com/4Euka1a `
I'm biased, but I thought the announcement from Microsoft with the update of cryptlets was a big deal. The morning sessions covered a few different oracle systems, the afternoon had lots of IPFS sessions. Microsoft - A Lap around Cryptlets https://azure.microsoft.com/en-us/blog/cryptletsdd/https://azure.microsoft.com/en-us/documentation/templates/ethereum-consortium-blockchain-network/https://azure.microsoft.com/en-us/blog/authomarleyg Microsoft was a sponsor of Devcon1 & 2 Ethereum is a 1st class citizen Support for community & partners - Bizspark, Meetups, Workshops Announcing: Bletchley v1 Distributed Ledger stack V1 is a private Ethrerum consortium, that you can spin up for your own enterprise / group http://imgur.com/olwwd36 Cryptlets are being developed to help with security, identity, etc. How do you get trusted external data feeds injected into the Blockchain? Doing things on a specific interval (every 15 mins) When price of something hits a threshold (oil goes above $40/barrel) Secure IP protected algorithms, but still share with blockchain network. Use libraries for common platforms (.Net, Java, etc) Cryptlets vs Oracle Cryptlets will have a marketplace on Azure that will allow you to purchase and utilise Use case: Trigger on an event Wake up on 4pm, if market was open that day, then give me the price of gold for that day.Get signature of attested server, attested sender. Use case: Control Using smart contract like a traditional DB. Declare data you are keeping track of, and the functions/"stored proc" to update that data. Cryptlet runs off chain, and can be scaled up. http://imgur.com/ysgL8S2 Utility cryptlet. Use an attribute in solidity contract with cryptlet details Developer references at design time the cryptlet they want the contract to call Contract cryptlet, deploy the cryptlet at same time as contract. Why would you want Azure to do this? SGX allows you to create "secure enclaves", can have complete isolation on the hardware chip where it is not modifable. Provides a secure enclave at the CPU level. Can give full attestation right down to the silicon. Will be provided as a enclave container on Azure. Will be released for .NET core CLR first, then other languages. Can create cryptlet libraries that you can scale and put into the Azure marketplace. An ecosystem for developers & ISVs to consume and publish. Bletchley v1 released today will let you spin up a private consortium. Before today, it took a long time to try and deploy a private consortium (can take weeks to read doco, Now takes 5 minutes to deploy! Creates a private consortium, puts each member in its own separate subnet http://imgur.com/w4yUsqE Mist Vision and Demo I was too busy sharing the release posts of Microsoft project bletchey v1, missed this talk. It did look interesting, I will watch this one later. Idea: Reward for bandwidth. Providing connection could replace mining as entrance point for desktop computers. Allow you to have a trickle so you can trigger smart contracts. Standardised backends, so that you can swap out the underlying node between geth, blockapps, etc. Web3.js https://github.com/ethereum/web3.js Etehereum JS API Smart conracts are EVM opcodes, Helps translates calls to JSON RPC calls. Helps do the ABI encoding when sending data from JS to EVM It kept on growing, many different utility functions being thrown in. Is time to clean it up and be refactored. They are now building a NEW web3.js The communication will be socket based, will enable subscriptions. Everything will be based on promises to subscribe to events, like log events. Bunch of other newer cleaner methods and ways to do things like deploying contracts. Smart contract security Was a very good postmorteum of The DAO and things that could be done to mitigate it in the future. An issue with The DAO was trying to do a massive jump from centralisation all the way to full decentralisation. Meant no one could step up and make a decision on how to save it. We need to make smaller steps towards full decentralisation as we learn as a community how to do this. Same security patterns as yesterday's talks: check invarients, beware 1024 call stack depth, reentry exploit (update state BEFORE executing calls), timestamps are manipulatable. Updateable contracts. Who can update it? Community multisig? We need better rools: formal verification, compiler warnings, improved IDEs, trusted libraries, excape hatches Conclusion: It is still very early days in this space, be careful. A Provably Honest Oracle Model: Auditable Offchain Data Gathering & Computations Oracalize is the most widely used oracle (until everyone starts using Microsoft Azure cryptlets ;-) ) Contract calls Oracalize contract with the data they want, off chain they see this get the data, Oracalise then trigger their contract externally, which does a callback to your contract with the data. Can use external notary servers. Can get proof from multiple external services to get a higher level of confidence about data (e.g. stock price from a few feeds). Off-chain (auditable_ computation) AWS sandbox 2.0. Put the execution package onto IPFS, AWS gets it and executes it, signs it. iEx.ec: Fully Distributed Cloud Thanks to the Ethereum Blockchain http://iex.ec/ Provides blockchain based execution environments Global market for computing resources. Idea is to do what we did before with "grid computing" use the idle capacity of computers. But this time do a trickle of micropayments. Allows people to harness this global power to execute their tasks in a global "distributed cloud". The Final frontier: The company smart conract http://otonomos.com/ Helping companies to incorporate on the blockchain. Smart oracles https://github.com/smartoracles Connecting to external resources is difficult. Hard to try and use external currencies (like a bank account / fiat money) to make transactions. Could hook in paypal, HSBC, wells fargo, etc. Can provide your own payment services as an API to a smart oracle for smart contracts to consume. Do off chain data storage by calling smart oracle API Roadmap: more data sources & more payment methods IPFS & Ethereum: Updates https://Ipfs.io IPFS is AMAZING, seriously go watch the full 1 hour talks Juan has given in previous years. Current web has current issues. Centralisation, etc. IPFS is a new hypermedia transfer protocol Content can be retrieved not from specific servers, but instead via it's hash so that it can come from anywhere in the network (maybe from the person next to you who has cached it). It is highly modular, all of the transfer protocals, routing, naming, etc. are all swapable Is available as GO-IPFS & now JS-IPFS Means now you can run IPFS in the browser IPFS was great for static content, but not so great for dynamic content. Low latency pub/sub protocol will help with dynamic data. Created a distributed peer to peer chat app using this new dynamic content protocol. IPLD a common link-tree hash format Will be able to use IPFS to retrieve ethereum blockchain blocks DIRECTLY Can use IPFS as a package manager to retrieve them in a distributed manner. Many projects are using Ethereum & IPFS Uport, Digix, Infura, Ujo, Eris, Blockfreight. Filecoin was created as a way to try and incentivize nodes to keep files longer time. People rent out hdd space to earn filecoin. Exchange bitcoin/filecoin. Use filecoin to store files in network. Filecoin is going to be built on top of the public Ethereum blockchain, as a virtual blockchain / token. IPFS Libp2p & Ethereum networking Network connectivity between any 2 nodes can be difficult. Censorship, bandwidth, network issues, etc. Having to deal with different networking topologies and access. Libp2p & Devp2p is different. Devp2p is for Ethereum. LIbp2p is modular, can swap out components to change network access, encryption methods, etc. Can build up a MEGA mesh network, by utilising traditional wired internet, radio, bluetooth between some nodes. Web browser using web socket, to a node, which routes across network, to zigbee to a IoT device. Libp2p & Devp2p could merge and augment each other. Could create the libp2p components to replace the devp2p bits Any 2 nodes that speak the same protocol can communicate and be a part of the network chain. Experiment. They took the browser based version of EVM. Then used Libp2p to talk to the Ethereum network. Had a complete ethereum node running in a browser. Uport https://uport.me/ Universal identity platform Current challenges: key management. Ux for average person. Dapps via mobile. Identity and data ownership. How do you keep a consistent identity, even if you lose a key. Have some multisig contracts that you can use to keep track. Social recovery, use your friends to attest it is really you. Keep private key on mobile, do transactions on the desktop, scan a QR code to sign the transaction on your phone and send it off. A Deep Dive into the Colony Foundation Protocol It is an open source governance protocol built on Ethereum Problem with voting is how to prevent Sybil attacks. Votes are weighted by a reputation score. Reputation is non-transferable that can only be earned. Total weighted voting helps mitigate this. Chain orchestration tooling & smart contract package management Eris is tooling for developers. Package manager to build your own blockchain. Can compose a chain, e.g. geth + tendermint consensus. Init, install, do. Can easily install on Mac/bew, linux/apt-get, Windows/choco The Golem Project: Ethereum-based market for computing power http://www.golemproject.net/ Anyone can make an offer to sell computing power. e.g. Distributed rendering Want to create a standard framework that anyone can use to submit and process jobs. Status: Integrating Ethereum Into Our Daily Lives https://status.im Want to get ethereum everywhere. "Mist for Mobile" Everyone is using their mobile phones for everything, but mostly using instant messaging. What would Ethereum in a IM window look? Created a IM mobile app that has a local geth node. tart up, it asks you to create a password, it generates a pub/private pair. Then can send messages via whisper, and the messages are signed with your public key. Can load Dapps up in the local webview and interact with them. Allows you to create "chat Dapps", that you interact with via text. Like chatbots Maker Ecosystem Overview www.Makerdao.com Dai: seeking stability on blockchain. Stablecoin engine: smart contract that holds collateral reserves and controls the Dai lifecycle. MKR: open source community managing risk of the system In the last year, investing in a solid technical core. More slow and audit things. Moving into the next phase of stablecoin development. Their latest project is the "Simplecoin project" Meeting Thereum community's need for stability. An independent platform for creating centrally administered simple stablecoins. Issues create their own rule sets: Collateral types, participant whitelists, security parameters. Example: Shrutebucks. The only people who own it are Dwight, Jim & Pam. They backed it with 1/3 ETH 1/3 DGX 1/3 DUSD. Orbit. A distributed peer to peer app on IPFS https://github.com/haadcode Created a full distributed chat room, itself distributed through IPFS. It is integrated with uPort for identification Using uPort allows you to verify that you are talking to the correct person in the chat channel. All their messages are signed with their public keys He also created a full distribited twitter clone, using uport for the identity as well. Orbit-db key value store DB that stores its data on IPFS. Eventually consistent Appends data to the DB, an event is sent to those subscribed on pub/sub so they can see the latest root hash. Based on CRDT Ethereum + Pubsub + CRDTs + IPFS = super power primatives to build dynamic distributed apps Development considerations with distributed apps. Need to ensure that apps work offline. No centralised servers. No data silos. Provide integration path. Future work: could you use uPort for ACL like permissions? Mobile use cases, how to make it work nicely on mobiles Building scalable React Dapp architecture https://github.com/SilentCicero/react-dapp-boilerplate React + Ethereum He has a configured boilerplate template. Has contract scaffolding. Enforced contract Linting/testing. Wallet generation/identity. Preconfigured web3 instance. UI: Mature react arhitecture "react boilerplate". Prices listed in USD with ETH/btc via kraken api. A basic multi-contract example Dapp. Offline first, dapp runs without internet. Uses Redux. State models in UI & blockchains work well. PostCSS, CSS Modules, sanitize.cs. Redux, immutableJS, reslect, redux-saga, i18n, redux-router. Web3, ethdeploy, dapple, solium, eth-lightwallet, chaithereum, ethereumjs0-testrpc Enforced contract testing in 2 languages. Ethereum for Enterprise (BlockApps Strato) Trying to make sure that Ethereum stays relevent to enterprise development. Why do you need a blockchain WITHIN an org, shouldn't they trust each other? Well different departments may not, they may reconcile differently, and can help automate/orchestrate between them. Blockchain is the "killer app" for cloud financial services. Legacy infrastructure, batch prossing, etc are all restricting fintech from progressing. Blockchain can happen in real time, can replace legacy. Ethereum is very flexible and programmable, works well. There are others based on Bitcoin (like Hyperledger). Ethereum + Blockapps = Extreme productivity + Proven Technology. Blockapps is extending Ethereum for Enterprise. Runs very well on Azure Enterprises don't want all their data exposed on public chain. Blockapps helps solve data privacy and scaling with multichain fabrics.
The Crowdsale Analyst: SingularDTV - Three Projects In One?
The Crowdsale Analyst: SingularDTV - Three Projects In One? Back again with another crowdsale evaluation. I'll do my best during the coming weeks to work through the currently announced ones (Gnosis, Golem etc) and please add information and question my info and conclusions so we can make good and rational evaluations of these crowdsales. As usual I will score each of the below categories from 0 to 5, with 3 being neutral in the eyes of the investor. Below 3 is bad for the investor and above 3 is good for the investor (and could be good for the project as well). DISCLAIMER: I am a holder of several different cryptocoins, and I have invested in several crypto related projects. This following is my own opinion, while trying to be as neutral as I can. Past evaluations: The Crowdsale Analyst: Kibo ICO — Where is thy team?
Project: Singular DTV
Singulars tagline is 'A Blockchain Entertainment Studio, Smart Contract Rights Management Platform and Video On-Demand Portal' - phew, that's a lot of info in one sentence.
Do these guys have what it takes to succeed as entrepreneurs? Track record and previous projects? Experience and formal education? First of all, Singular is a ConsenSys backed project with Joseph Lubin (former Ethereum COO) listed as it's CTO. Consensys (founded by Lubin) is a software/startup studio based in Brooklyn, mainly focused on Ethereum projects. Zach LeBeau, the CEO has both business experience and has experience from the entertainment industry - having produced music and written, produced and directed several tv and movie projects in the past. Kim Jackson imdb, Chief Creative Officer has produced several top tier movies. From the looks of this team, they seem to have gathered a top team with the right experience and drive to fulfill the vision of this project. However, Joseph Lubin will clearly not work fulltime on the project (because of many other commitments) and there are no other technical persons listed in the founding team. Despite this they have a great team, and a great backing from ConsenSys to be able to find the resources they need along the way.
Market Potential 4/5
Singular have chosen to go for three different markets with some synergy effects between them. They will be a TV/movie production company, a digital rights management platform and a TV on demand platform. The TV/movie industry is a clear hit and miss industry. They give clear goals for the number of views for the proposed TV series and documentaries and how these convert to revenue. They give examples of block buster TV shows (like 9 million views for a finale of Game of Thrones) and put their goal to 2 million views over 24-36 months. If they reach their goal they will have an return on investment for the TV series of 140 % which seems like a great number. However this number must be very uncertain, it could just as well be 500k views or 8 million views over the given time frame. In the long run, building a highly profitable content creation studio could be very lucrative for investors - but that all depends on the quality and reach of the produced content. Second, the TV on demand platform is not given any numbers in the summary overview. This is a very interesting technological project but hard to value since it is also a hit and miss market. You either get the traction needed to grow and establish yourself in the marketplace or vain away. Third, the digital rights management platform is the technological project given the largest development budget ($2 million). This could make sense. I would assume it's easier to establish yourself in this nascent market, if its a good platform there will be many independent film and music producers willing to use the service and this service is not dependent on the network effect in the same way as the TVOD platform. In summary, they are shooting for three potentially very large markets (I'll leave it at that) which should give them a chance to pivot the business model and focus on one of these if needed in the future.
Product/Business/Operating Plan 3/5
Proof of concept available? How many iterations are done? MVP available? Is the product validated by outside users? 2/5 They have a running website, the scripts for the TV and movie projects seems to be done. They have released some video explanations of what they are trying to achieve. For the technological platforms I little information or timeline for the development. Ujo Music (the potential partner for Digial Rights Management) does not have any demo what I can see. In fact, their latest blog post indicates that they are still exploring the space Ujo Blog. What is the current operating plan and why do they need funding now? 4/5 They have a clear time table for releasing the Singular tv-series, first documentary film and the short documentary series. These projects require the funds asked for to become reality. What is the go-to market strategy? 2/5 They spend around 8 lines of text in the summary paper discussing the need for a robust and creative marketing campaign (that is very short). Since they are a video production company I can only assume they will be able to produce very high level content when reaching out. My only concern is that they mention they will do it with thought-provoking content and some very niche keywords (blockchain, transhumanism etc.), I hope this will not make them too specialised but that they will still appeal to the general sci-fi and tech interested audience as well. Roadmap 3/5 This is the roadmap from the published summary paper:
SEPTEMBER 2016, LAUNCH of ‘The SingularDTV CODE’ tokenized ecosystem OCTOBER 2016, Production begins for ‘Singular the TV series DECEMBER 2016, Release of S-DTV’s first Documentary film into the marketplace FEBRUARY 2017, Release of short form documentary series Episode 1, with release schedule of 1 per week for 8 weeks JUNE 2017, The premiere and worldwide release of “Singular”, Season 1
This roadmap seems reasonable with clear timings for each project, downside is that they don't mention the digital rights manegement system. We need a deadline for that as well.
Do they have a clear view of the competition? How do they plan to beat them? They are clearly aware of the competition in the space for all three projects, but there is no discussion about the competition.
Is valuation sane? 2/5 As a refreshing change from many other crowdsales they have set a clear goal with their fundraising, $7.5 million in order to fund their project pipeline. To raise this they are releasing 1 billion SNGLS. 500 million goes to the fundraising participants, 400 million to the project, and 100 million to a set of core investors. All future revenue coming into the system from the above projects will go through a mechanism where they are splitted to the above three groups (in those proportions). The holders of the 400 millions (the founders) have pledged to never collect this revenue for themselves but to reinvest this in the ecosystem. Is the fundraising sane? Well, hard to say. The founders are keeping 50 % of the project for themselves which seems like a very big part. I would have prefered structure where the project automatically receive a share of the revenues (40 % with no tokens attached), the founders are given a part of the tokens (say 20 %) that they will vest over the time proposed to complete these projects. What is the exit potential and exit options? 2/5 Nothing is said about exit strategies, but it can be assumed the tokens will be traded on exchanges. However, there is no mechanism for an investor to get out of the investment before the tokens are listed and tradeable which is a minus. The only exit mechanism mentioned in the paper is that if anyone of the founders exit the project, they will recieve their part of the 400 million SNGLS and the revenue that comes with these.
As an investor? 4/5 The current summary paper clearly state that this is not an investment offer. Later in the paper they clearly describe the revenue sharing propeties of the SNGLs. Since this is not a final fundraising paper I assume they will add to the disclaimers and make it clear it's not an investment in the eyes of the SEC. Legality of the business 5/5 Singular will produce their own content which they will own 100 %. In the platforms they will work directly with other content owners to list and sell their content. I see no legal risks in that business model.
How long has an operational proof of concept been live on the testnet (Morden)? 3/5 They have a blog post describing security testing, token distribution testing and payment API testing posted in August 2016. Proof of external security evaluation? 3/5 Not available Special security needs for this project? 3/5 Nothing more than in any other big, complex Ethereum project.
At first I was sceptical about this project. But reading through the available summary paper and looking up the founders team they seem to have a great team and a well prepared business plan. They have interesting synergies to bootstrap their tv on demand and digital rights management platforms with quality content. They are prepared and have a clear need for the funds now, and they have a realistic budget for project costs. My biggest concern is the system they created where the founders keep 40 % of the tokens created, which they are seemingly free to use as they wish if they leave the project. Why not give the platform a share of the revenues directly? I would really like to see someone from SingularDTV come forward and explain the rationale and mechanisms behind this in further detail. Second negative is if they are trying to do too much at once? They will be a content production company while at the same time building two different digital platforms. Will they be able to focus on each part enough? And do they have enough technical leadership to handle both of these projects? Third point is if the tv and film projects will be interesting enough for a big enough audience? If this was a regular production company and you were given the opportunity to invest, would you do it? Another negative that could indicate a current focus on form and good looks over technical quality is the website they have created. Without any complex content it still uses up a ton of system resources and makes computers run HOT — if this is the system resource usage they are happy with for a simple things as a website, the front- and backends of their content delivery system they will surely have issues down the road. All in all, I think SingularDTV is a quality project and I hope they will succeed. Read on Medium for better typography
Book excerpt: Imogen Heap: “Tiny Human”. Total sales: $133.20.
I’ve told this story before, but somehow the sales figure “$133.20” has yet to be burnt into the history of Blockchain from now unto the end of time. Webpage version, with working links for all the references. Others had already been thinking along blockchain lines. Imogen Heap has been recording through major labels for a couple of decades now, and, in the course of a string of chart albums and Grammy nominations, has experienced quite her share of the music industry’s duplicitous incompetence, and wants something better. In late 2015, Heap introduced Mycelia, running on the Ethereum blockchain. Her motivation was to cut through the tangle of bad deals and obscure rights the record industry offered. She found herself free of previous deals, and so released her new song “Tiny Human” as the test case. “Its success will come from the adoption of millions of music lovers.” (1) Mycelia worked with Ujo Music, an attempt to automate the back-room disbursement side put together by Ethereum development company ConsenSys, whose Vinay Gupta had first told Heap about smart contracts. Heap’s explicit goal is to have all music you’ve “bought” (not just hers) behave as spyware: (2)
We know less about what our songs get up to once they’ve left ‘home’. What would I like to read on these postcards from our songs? Well, how many times it was played, by who and where would be a great start.
The last Imogen Heap release with spyware was the 2005 Speak For Yourself CD with Sony’s rootkit malware, an initiative that didn’t go down so well then either. The press coverage of Heap’s new initiative was vast, and her name is still routinely brought up whenever blockchaining the music industry is mentioned. What I’ve yet to see anyone mention is how well it did in practice. Total sales of “Tiny Human” through Ujo Music on the Ethereum blockchain were … $133.20. Not $133,200 – but one hundred and thirty-three dollars and twenty cents. (3) It literally got more press pieces than sales. It was taken off sale some time in 2016. (4) It didn’t help that purchasing it was almost impossible for an ordinary human music fan. You went to the page, clicked “Download”, followed the instructions to create an Ethereum wallet, and went off to a Bitcoin exchange to buy bitcoins then exchange those for ether, as ETH wasn’t widely traded directly to dollars at the time. Getting hold of the Bitcoins required you either to send a pile of government identification to an unregulated exchange, deal with crooks or both. Once you’d done all this, you got a download key. The process was also ridiculously glitchy and buggy. “The exact ether amount is a bit of a gamble.” (5) Ujo Music later posted a rambling nonexcuse for the “Tiny Human” disaster, in which they admitted that they’d only researched what the hell they were doing after they’d done it. As they put it: “we are but a few bright-eyed technologists with a special hammer, looking for the right nail.” (6) You’d think that at that point Heap would be wishing she’d just put it up on Bandcamp, but she’s still pursuing the blockchain dream and selling others on it, particularly the Featured Artists Coalition, i.e., the stars who did quite well out of the old major label system and would like to keep something that works like that. Never give up! A record shop needs not to be harder to use than a BitTorrent client. iTunes, Netflix and Spotify made it big by being more convenient than piracy, and there is nothing convenient about dealing with blockchains. For buying music online, Bandcamp has all comers beat for a convenient record shop experience that delights both buyers and sellers, pays 85% to the artist and doesn’t have any use for a blockchain. 1 George Howard. “Imogen Heap’s Mycelia: An Artists’ Approach for a Fair Trade Music Business, Inspired by Blockchain”. Forbes (contributor blog), 17 July 2015. 2 Imogen Heap. “What Blockchain Can Do for the Music Industry”. Demos Quarterly #8, Spring 2016. 3 Screenshot of payouts as of August 2016, uploaded by me 6 November 2016. 4 Screenshot of the Ujo Music purchase page for “Tiny Human” when I clicked “Download” in August 2016. 5 andrewkeys. “Purchase Imogen Heap’s “Tiny Human” with Ether on ConsenSys project, Ujo, the decentralized peer-to-peer music platform!” Reddit /ethereum, 3 October 2015. 6 “Emerging from the Silence”. Ujo Music blog, 29 August 2016.
I was able to get my hands on one of the coveted "Hard fork café" tshirts. Victor Lysenko from Acronis had brought a collection of them along, and was handing them out to for free to special people. Awwww <3 http://imgur.com/34Fthkj In the evening I was able to have dinner with Vitalik swoon He ended up ordering a selection of dishes on behalf of the table. He did a brilliant job and managed to do it in Mandarin. (Made me realise I need to step up my Mandarin lessons). http://imgur.com/D0pWga8http://imgur.com/6ZsUaNN There were quite a few presentations delivered in Chinese today. Live translation headsets were available. I was extremely impressed with the ladies doing the live translation, they were able to handle all the technical words and kept up very well with the demos. Apparently behind the scenes they had to train themselves up by reading blog posts and researching the topic so that they understood the technical jargon. http://imgur.com/Fi1PFid ` `
Demo day sessions summary
Today was demo presentations to a panel of judges, who voted on and decided the winners at the end of the day. http://www.blockchainweek2016.org/ On the negative grumpy side, there were so many similar projects (identity, stablecoins, distributed loan platform). But their were HEAPS of projects revolving around them building their own Blockchain, but never saying why their particular one is better than the existing Blockchain solutions. They always talked of the benefits of the Blockchain for business in general, but never their particular one specifically. However on the positive side, there were many great projects that made me sit up. The most interesting ones were projects like Weifund that leverage many other existing projects on the blockchain. Interestingly there were 17 projects that were building directly on top of the existing Ethereum Blockchain technology (both public & private) and leveraging the network effects. But strangely I didn't see any projects building on any other existing Blockchains such as BTC or Hyperledger (beside the 2 presentations by IBM pre-demo). Vitalik's comment near the end of the day summed it up well for me. A lot of the demos are creating projects that aren't really leveraging the Blockchain, and aren't better than the traditional version. A lot of the solutions are also still centralized, and rely on a single company. Don't try and create your project as a standalone solution. This is especially true with the many many identity services that are being created as new silos. Try and build something decentralised that can outlive a company and can grow. Uport was 1st prize. Other winners were weifund, Cosmos and others I didn't catch. I unfortunately missed uPort as I was late coming back in after the break :-( `
Keynote - IBM Hyperledger Very very high level information. Blockchain is useful. The value of a network grows exponentially with each new node Generic slides showing "Blockchain allows people to interact via the Blockchain". He said that "Companies in Silicon valley are trying Ethereum and then moving to Hyperledger in droves", sounds a bit farfetched to me (but i am biased) Opening speech by Sinodata Blockchain is important for the future of business. Sinodata are building things for b2b & b2c No details. Other companies are looking into 1.0 & 2.0, but they are more advanced. They are willing to share their vast experience in blockchain with other blockchain companies. "We are the creator & users of blockchain." ` `
Funny anecdote. During the introduction of the judges, the MC introduces Vitalik and the crowd cheers loudly. Chinese MC: "Oh... the audience is very excited about this judge, he must be very important" Ujo music "Fair drm" Music consumption is at an all time high. If consumption is waaay up, how is it artists are still hardly earning enough to support themselves. Artists have lost control An artist has fragmented identities on Spotify, soundcloud, discography, beatport. Difficult to keep fans up to dates on tour days Fan remixes on soundcloud get pulled down due to copyright infringement. Ujo gives fans a way to pay directly to the artist Use Ujo as their kit / digital container, to be in charge of their identity Reach piece of content is marked with their digital ID, so it can be tied to artist. Can set policies on fair use and creative rights Bestowit.global Everything changes when someone dies. Difficult time, need to find the will, usually paper based. If no will exists, then government decides. Difficult to know where to look for wills, no central place to look. Succesion law hasn't been updated in a long time, isn't up to date in a digital world. Created "living ledger". Wills on the ledger. Created a smart envelope, an iot device to put will inside and then seal and out on blockchain Vechain Unique ID on Blockchain Seems "to do everything": Id, lifecycle management, management portals. (no focus, which judges also commented on) Has a chip you can embed into anything to tag it. Can put on clothes or a bag, every article has a unique Id My thought: For those that like to show off their money & brands, now why just buy your avatar digital clothes to show off on social media. Instead now you can buy a Chanel bag, then you can prove on social media that you own own to show off. Decentralized capital Summary: it is a stable coin They use DC capital to back tokens. Use assets to purchase and back tokens. Bubi Blockchain (pronounced booby) Summary: they built their own Blockchain Data sets data is centralized. You don't own your own data. Your data is being monetized by other companies. They provide Bass Blockchain as a Service. Applications can use their Blockchain. Get data security. Finance. Etc etc Can do loyalty points, games, etc It is a Blockchain… They have 20k transactions a week "People should use our Blockchain. Will give you more opportunities and value" DGX A real stable coin Digital gold. 1 DGX = 1 gram of gold Each token is back by real gold in a vault, fully insured. The certificate of authenticity is put into IPFS Is ERC20 token compatible Introduction digix 2.0 Can log on and buy gold. Is implementing KYC (know your customer) Me: I like it, I tried to join the pre-sale, but sold out instantly. Cosmos (prize winner) Http://cosmos.networkhttp://tendermint.com A network of Blockchains (Cosmos hub). Securely communicate between the chains Uses Tendermint (which they built) Cosmos is a public Blockchain built on Tendermint. Could have a number of EVM based networks, then put a Cosmos hub in the middle to allow them to communicate with each other. Ethereum & Tendermint work well together. DeVita People waste lots of time trying to find answers on the Internet Post bounty for answers But bounties are posted on forums. How to enforce payment. They created a decentralized bounty system Can use the data of people who answer to create a CV "proof of expertise". EtherLoan Problems with centralized lending platforms, include hacking and high costs. Their solution connect distributed members with borrowers. Lenders can send funds to smart contact to participate in a loan. Borrower repays the loan, gets distributed to the lenders Borrower creates a new EtherLoan. Can customise the terms. If lenders like it, they fund it. Can negotiate the interest terms Is currently a PoC. Only supports simple loans with single repayment. Integration with unorthodox. Reputation system. Future : compound interest. Integration with credit score & risk management systems Qtumhttps://qtum.org/ Yet another Blockchain? They built it on incentive PoS. Can bring regulators & government. They want compatibility with Bitcoin & Ethereum. Pluggable consensus. Public & permissioned Blockchain. Supports EVM. EVM 2.0 Can apparently do anything that any other chain can do because you just code it in. Support for oracles. Integrates with KYC/AML Can run zcash in here. "does everything" Vitalik gave A LOT of feedback after the talk for it trying to do too much with no focus. Benefactory Like a next gen The DAO, but the funds are for non profits? Platform for distributed organisations. Pooling funds is hard Let individuals decide how to use their own funds Commonwealths are distributed non-profit organisations. What problems should you propose to solve to achieve a commonwealth objectives (and get funding) Zhong Tou Bang Lots of pollution and health issues in China Most Chinese people don't have health insurance Health insurance of on Blockchain Problems of privacy, how to protect it. User identity Trusted key Secure trusted identify Online id systems don't attest to a real world identify. Currently each online service (e.g. Airbnb) had their own verified user system which is not transferable. Using identity documents like drivers licence. Take photo of documents, take a selfish. Submit it. Once verified the proof is attached to identify. Can later provide proof the parts of the proof you want to share (name, age, gender Can then later cryptographically sign documents, like bank documents with your digital signature Coral legacy Creating a direct link from various to consumers. For wine. For $100 you can purchase a grape vine at a vineyard. You get the wine created from that vine. The vine is tokenism on the Blockchain. Your wine is in Blockchain, tied to your vine. Date, history, etc. Vine is $100. Administration is $10 / year. To make and record the wine is $30 / year B8 https://eth-b8.com Location based Blockchain service Organiser can drop a prize anywhere (geocache ?) People gather around a prize, one enough people have gathered, prize is distributed. Encourage people to gather at a point for an event eg. Mall opening Simple command line, put geo coords, number of people required to trigger, and total amount of ETH to distribute. Can try and counter GPS spoofing by using GPS & beacons. While also tracking user to detect anomalies, like jumping from USA to China in 5 minutes Judges (and attendees) were more interested in the anti-GPS spoofing technology, than their blockchain Dapp BioT. Blockchain IoT Like Slock.It IoT device with a light client that can connect to the Blockchain Can send ether to trigger the IoT device (like a vending machine, or smart meter). Can have a mobile SIM in it. Weifund (prize winner) Http://weifund.io Nick Dodson Make crowd funding an easy and simple thing to do. Decentralised kickstarter Crowdsales are not an easy thing to code yourself in a smart contact. They have put a lot of effort into security in their solution. They will have many types of campaigns, like presales. Supports many types of currencies. Is built fully decentralised, distributed via IPFS. Uses Metamask & uPort for identity Fluent Http://fluent.network Platform for financial operating network for global trade. Very enterprisey. Token http://token.im Chinese Blockchain startup Digital wallet, mobile app. "digital assets wallet" Light wallet. Looks very clean and slick. Trade tokens, use Dapps. Alipay app is popular here in China. They hope to be as popular for digital. Built a Ethfans & carbon vote integration Token factory http://thetokenfactory.com/ Create something that would allow people to experiment. Make easy to create and distribute your own token. Issue any token on any Ethereum network Simple wallet interface. Follows the token ERC20 standard Works with Metamask uPort Mist my ether wallet Stabl Coin http://stabl.money Literally just another stable coin Alta apps Another Blockchain with their own platform Hyperchain Another Blockchain Other Blockchains take too long to confirm. Bitcoin can take an hour Theirs is better because of lower block time ANX international Abs Blockchain services. Provide Blockchain services. Have their own platform. Provide a white labelling service of wallets, tokens
Whereas DEVCON2 was all about development, and leveraging the network effects of leveraging other projects in the ecosystem, the presentations today were VERY high level talks. There was a massive stark difference between "the old guard" in the Fintech space, and the disruptors that are shaking things up. Take a look at the BOC (Bank of China) and ChinaLedger presentations. They talk about how Distributed computing is dangerous. ChinaLedger go on to say that they need the power to be able to go in and halt transactions, modify smart contracts on the fly, liquidate accounts when they need. While also saying that they will make sure they will do everything to help privacy and use encryption… which only the Government can unlock ("Golden keys"?). It was the most centralised "Blockchain" I have ever heard of. On the flip side I was inspired by the forward thinking of the Consensys presentation, and their long term vision for where to drive the Ethereum platform. They are helping to create open tools and platforms that will be leveragable by a multitude of projects (as demonstrated with Ujo and BHP project "Rai stones"). http://imgur.com/AXHw1Df After the Consensys presentation, my 2nd favourite presentation was by Wanxiang labs "10 years to build a city", talking about how they plan on taking some land and creating from scratch a smart city powered by the blockchain and electric vehicles. While the other old guard are squabbling about how it is going to impact their "business as usual" profits, there were the new projects out there envisioning and disrupting. The BHP presentation was also pretty cool, a great implemenation of using Blockchain to improve a business process. `
New Finance: Technical & Legal rules - BoC He is from bank of China. Entire presentation was him being scared and trying to justify why current Blockchain tech is an unregulated wasteland, and why there needs to be regulation from banks and government. For Fintech they think Blockchain will not be successful without proper regulations Blockchain finance - it is distributed. Storing all of the transactions will take a lot of storage space. What to do once the transaction rates exceed what can be processed. Thinks that public distributed transactions will not be more than a toy like with Bitcoin. For real FinTech they need something different for a high frequency. Thinks that decentralisation should not be the core feature of Blockchains (due to transaction limit). Thinks it should be decentralised, not distributed. Should be done with private consortiums. Needs legal rules and technical rules. They think that self rulemaking currencies (Bitcoin) can not be regulated. So need to stop them, to prevent bad things like money laundering. This is showing the loopholes brought about by Bitcoin. So when using digital currencies, they need certifications and tracking. "We need more regulations and rules to facilitate the healthy development of this space. Only with support of regulations can new technology take off". Me: I totally disagree… (if not already apparent) Blockchain futures & realities - CSDC China Securities Depository and clearinghouse He was much more open minded and forward looking. Is a pep talk for "things are going to change", how are we going to use these new things. He said that he recorded it into English that should be able to be downloaded, would be worth watching if you are into this space. Summary: Genie is out of the bottle, we need to embrace this and think how we are going to put the requirements of securities ("real name transactions") in a decentralised way. And the registration and tracking of assets to real names. People have ideals because they are not happy with reality. Due to this dissatisfaction, people are passionate about trying to make that dream a reality. Need to play by the rules, or the market will be chaos. So now we have facilities law, regulations, etc. This forms the framework of China economic. This is very different from Blockchain. This is at odds to the distributed systems. Seems like we are dissatisfied with this, so trying to reconcile these differences. All securities transactions need to follow "real name" transactions, but want to do this in a decentralised manner. Market cap is 54 trillion (of something in China). GDP is over 70 million They are researching Blockchain, but not just in the lab. Need to find potential applications and use cases for it. If we want to implement Blockchain technologies, we need to see what the hurdles will be, so we can get closer to the ideal. As BoC speaker said, the number of transactions per seconds is HUGE. Daily may reach 10s of millions at its peak. How are we going to handle this with a theoretical framework. Need to start from the reality of China. And the reality is it is a giant country with a huge population, which depends on the capital market. If you just implement within a lab it is okay. But if it is going to be put into the industry, then we need to work with the government. We can't just get rid of the government, it is impossible (REVOLUTION!!). So need to focus on key senarios to tackle, as you can't just apply Blockchain everywhere simultaneously. Or all your efforts will fruitless. How to complement it initially, not replace it. Ten years efforts to build a city (Wanxiang Labs) Me: I reallly liked this presentation. I've been keeping notes for months around building this type of innovative city in Australia. I plan on rewatching this one again later. Going to build a city in 10 years. An energy gathering city in HangZhou 10KM2. Their US company is starting to build new energy vehicle. 900m RMB? 90k people. Deploy the city into the cloud. Intelligent life, traffic & services. Everything will be connected. IoT, Internet, smart living, smart transport. Once this is successful, they plan on launching it across the world. Will publish their learnings. Launching incubators and accelerators. Their own cloud Blockchain as a Service. Many scenarios in this smart city that could utilise Blockchain. Distribution for Solar power. ID & Vehicle registration. Intelligent community services. Can promote a sharing economy throughout the community. Partnering with Microsoft, IBM, Consensys, Ethereum foundation, WeBank, AliCloud Vitalik Buterin keynote Talking of the progress China has made in Blockchain innovation in such a short period of time. He visited China 3 years ago and visited a number of Bitcoin companies and was impressed on the scale of what China had, much more than what was happening in USA. But all the focus was just on cryptocurrencies, not Blockchain technologies, Just mining. 2nd time, he saw some kind of experimentation happening with interesting things (like coloured coins?) 3rd time saw more interest in Blockchains. 4th? time, he did a hackathon with Wanxiang labs (event sponsor), and there were ~30 projects. The growth since then has been rapidly growing. The scale of projects we couldn't have imagined 3 years ago. Was just theoretical, now a lot of ideas are almost reality. e.g. Self-sovereign identity, instant settlement. Hyperledger https://www.hyperledger.org/ Goals. Build an opensource dev focused community of communities to build a hyperledger based solution. Create a family of "etnerprise grade" open source blockchain framework, platform & libraries. Because it is an enterprise opensource project, they need to track contributions, patent details, etc. Is part of the Linux Foundation, which has 16 years of providing governance stucture support for major open source projects. 80 project partners. IBM, Intel, Accenture, JP Morgan, Airbus, ANZ bank, Cisco, etc. 20 of the 80 project partners, are based in China. Apache license v2. A world or many chains. There will not be only one blockchain. There will be many public chians and millions of private chains. Each may use different consensus mechanisms. Major projects are: Fabric: Developed by IBM. PBFT, moving to Raft and other pluggable consensus mechanisms. Written in Go. Sawtooth Lake: Proof of Elapsed Time. Runs on secure enclaves. Written in Python. Hyperledger explorer: GUI for navigating Fabric & swatooth lake. Fabric-py SDK. (Java proposed later). Future: Smart contract engines. Portable identities. Will never see a "HyperCoin". It is about making Hyperledger a standard, and a governance group. IBM keynote - IBM Blockchain & Hyperledger Today if you want to do something in your business on Blockchain it is difficult. Hard to scale, issues with privacy. No Enterprise support. Need tools to write tests for smart contracts. Need good solution patterns. Difficult to scale up, especially around transaction rates. Built Fabric to support "serious business" Permissioned blockchains can't scale. Every node shouldn't execute every transaction. The 2 peers that are interacting are the only ones that should execute. IBM has implemented this internally to resolve invoice disputes with their suppliers. IBM All the slides were in Chinese. Difficult to follow unfortuantely. The (original) Silk Road was important for trade. Blockchain may be just as important for trade in the future People are debating the need of distributed systems being an important thing of Blockchains, is it really necessiary? Blockchain should instead be focused on unblocking instead. IBM will provide an IBM certified docker container. IBM Blockchain. http://www-31.ibm.com/ibm/cn/blockchain/index.html Has a concept of a "shadow chain"? Blockchain Platform @ Microsoft At Devcon1 Microsoft announced Blockchain as a Service. Rolled out DevTest Labs to allow you to spin up public, private, permissioned, and consotrium blockchians quickly. Provisoin with 1 click. Mix & match from best available blockchain tech. Bletchley: Open infrastructure, Enterprise capabilities. Microsoft is not building their own Blockchain. Blockchain has some missing parts (identity, privacy, key management lifecycle, tools). Asked our partners what are the missing parts. A database in itself isn't an application. (re)Announcing: Bletchley v1. 2 parts. Distributed infrastructure layer (Blockapps, R3, bitpay, parity, Eris). There isn't going to be 1 Blockchain to rule them all, so allow you to leverage any of them. Lots of customers were taking a long time trying to spin up private consortiums, and trying to secure them correctly. Used to take 3 weeks, now down to 8 questions and 5 minutes. Spins up a private Ethereum consortium. 4-100s of nodes. Distributed middleware "fabric" layer. Tools that can work across many blockchain technologies. Cryptlets are a way of doing offchain processing. Receive market data based on an event (market price daily closing, CRM event). Need to have trusted execution of the logic, to attest that it was not tampered with. Secure IP protected algorithms. Scale an algorithm for max performance by running it off blockchain in a secure & attested way in the cloud. Oracles may be malicious, or they may be intercepted during transmission. Cryptlets run on a secure host with a secure communication channel in a trust envelope. Marketplace for publishing the cryptlets into a market for others to consume. Azure cloud is twice the size of Amazon & Google COMBINED. Bletchley Cryptlet Fabric. Supports Ethereum, will support more Blockchains. It is middleware that will support many. Secure execution on demand. Standard way of publishing and accessing external resources. BaaS roadmap. DevTest labs, will continue to onboard more. Bletchley v1. Kinakuta to help improve security. Bletchley SDK Longer range implications of Ethereum & other decentralising technologies (Consensys) LOVED this presentation. Simplest view: Next gen database. Blockchain based, maximal replication, Prevents rogue actors Force for universal disintermediation, will distrupt every industry. Previously it was mostly just Bitcoin. Future projects were "BitCoin 2.0", instead of "Blockchain 2.0". So Ethereum project built the most powerful and capable Blockchain platform, both public (permisionless) and private (permissioned) Deeply secure, non-repudiable shared source of truth. Dapp is a set of smart contracts. And a user interface to interact with it. Was important to get an initial version of Ethereum out into the hands of devs, to start thinking how to start building decentralised applications. Ethereum has a vision for scalability, which includes sharding and state channels. Privacy, state channels is one option. Zcash/zk-Snarks is another way. Currently building out an ecosystem of decentralised applications. Building core components: Identity/persona (uPort, metamask). Wallet (uPort wallet). Registries (Regis, ENS). Token Factory. Do private enterprise Blockchains make sense? Yes, large entities can have a complex internal mix of business units, having a shared source of truth can help. If enterprises have their own private consortium Blockchains, will be a harder target to infiltrate and modify databases. Business processes emboided as state transition graphs. If you plan on building your own tools or technology on top of Blockchain tech (public or private), build it on Ethereum so it can be reused in many different places by other entities running their private chains Developed "Balance" for real time compliance, accounting auditing and monitoring. Real time dashboard for companies & regulators. Organisations using certified software wil not be able to break or bend any financial accounting rules. The Blockchain will last for years or decades giving a persistent database. Gives a chance to do persistent portable identity. uPort self-sovereign identity. Blockapps Announcement Is Ethereum for Enterprise. Partnered with Microsoft to announce Blockchain as a Service (BaaS). Over 1k projects have used it, over 300 customers. Being released in Azure China datacentre (mooncake), and other Chinese clouds : Alibaba cloud, tencent cloud, Wancloud. Initial China projects: Minsheng insurance, Wanxiang smart city, Qianhai smart city, Shanghai smart city. China is going to be the country leading the world in Blockchain projects. The Rise of Blockchain Consortia: Uniting the Banking World One of the largest banks in Spain. Banks are just a ledger (a very large ledger). Each bank has its own ledger. They don't trust each others. Which is why you need clearing houses and things like this. What if there was a shared ledger trusted by all banks. "It's not about the coin, its about the ledger. ` New development of ChinaLedger: Forging a powerful tool for Chinese capital market in the FinTech era Was literally the most centralised blockchain I have ever heard of. Please excuse me as I rant inline. ChinaLedger is a consortium. 11 founders established it. Chinese financial institutions and Wanxiang labs. "we created our own Blockchain and tools". Will come up with their own custom software and implementation. Will create a whitepaper and create reference architecture. Partners will use the network to do transactions. Need facilities to be able to freeze or take over acounts, and get access to all data. A need to be able to halt or freeze a transaction or smart contract. A need to be able to halt or freeze a transaction or smart contract. and the facility to liquidate an account or smart conract or manually change the state of a smart contract We need to be able to stop the trading of certain stocks. Let regulators control things. Will be fully in control of the gas. Wants to support 100k/s and 1 ms latency. Then ironically says tries to say they are going to put privacy into this. "Everything will be encrypted and private. Except that CCP & regulators who will have ability to read everything". I'm SURE that won't be abused… http://imgur.com/Qt4qh3O You keep using that word... Blockchain, distributed ledger, privacy, encryption Re-imagining Global Payments (For business) Banks make a LOT of money from bank wires. So they have no incentive to come up with anything better. The person sending the money needs to give 26 pieces of information. Don't know when you'll get the money, what the rate will be. About $20 to send, $20 to receive, plus lose a few percentage through the conversion. Their solution (for business payments). Register for an account, can use online. No fees. Transparent FX rate. Can track the payment. Uses Bitcoin in the middle. Before international calls used to call many $s per minute. Now with VoIP (Skype) you can do it for cents. Same thing will happen to international money transfers. Enabling Global P2P Cash Transfers with Abra (For consumer) https://www.goabra.com/http://www.coindesk.com/abra-remittance-app-us-launch/ Nowadays you can send an IM to anyone else in the world instantly for free. Why can't you do the same thing with money? Can do it locally in some domestic markets, like paytm (india, WeChat pay (China), mpesa (Africa). But not for cross border transactions. iOS & Android. Real digital cash wallet. Send & receive globally. No FX risk. Add cash via bank or in person. As private as paper cash. Abra tellers earn $$ (as a percentage fee). The wallet is stored locally on the phone. So you "physically" control it. (need to back up your private key). Use an Abra teller (someone else using the app) to exchange buy/sell cash for digital cash. Anyone can be a teller. Tellers charge a fee. Teller & user rate each other. When 2 people send money each other via Abra, happens instantly, . No FX volatility. Awaking the Sleeping Giant: The Natural Resource Industry and the Blockchain Note: Hispresentation was in English, but I thought it was extremely considerate that he had his slides translated into Chinese as well. Every slide had simultaneous English & Chinese descriptions so that the attendees using the live translation headsets could follow along easier. If I ever present in another country again, I'll try and plan ahead like he did. Was very thoughtful. Why is BHP interested in the Blockchain? They are the largest mining company in the world (natural resources mining, not Bitcoin mining. Hehe) They are a global distributed organisation. So a distributed Blockchain Project Rai Stones. Sample tracking of geological samples. They are highly valuable resources. Some of the wells cost $100M, and you only get 1 chance to take the sample. They currently only track the samples manually through emails & spreadsheets. They are working with Consensys & Blockapps. Runs on Ethereum & IPFS, on top of Microsoft Azure. 1 node at BHP, 1 at their collaborator, 1 at their regulator. 3 roles in the business flow, BHP out in the field, the analysis team, and BHP corp. They create/register a smart contract on the network for each sample. When the person collects the sample, they go to the dashboard, click the checkboxes to say they acquired, that updates the smart contract. They ship it off, so they put in the details of which analysis office it is being sent to, updates state from collected to shipped. Analysis team can log in, see what samples are in transit to them to be analysed. They receive it, give it a unique Id based on their internal process. They get trusted tracking of samples, and real time updates. What if they could automatically operate machines, they could help avoid bad combinations of machines operating at the same time. Like a crane operating on an oil rig, when a helicopter is coming in. Disable a piece of machinery if it is past its allowed usage before routine preventative maintenance. Disabled until it is tested, and certified as okay on the Blockchain. Stop unqualified people from using a tool or vehicle. Ore gets mined and put onto shipping freighters. Need to track Provenance, custodians, entire supply chain. Need to give regulatory data to the regulators in each country the operate in. All the mines in the industry need to submit this public data to gov, it all gets aggregated, and disseminated. But it costs HEAPS to do this. What if they built a consortium chain. They can all publish the public data, ready to be analysed instantly by peers. Could make the entire industry more effienct and transparent by making the consortium not just for the 1 country, but a public one. Give a global transparent view of the entire industry. Would help drop costs of compliance. They started on Ethereum Mainnet & Testnet. Now they are seeing the emergence of many private chains. They will see the bridging between chains. Seen that Ethereum plans on sharding (many chains). Forsees that there will be a global mesh of these Public & Private chains all supporting each other. Cotricity – “a prosumer to business”- virtual energy market on the Ethereum blockchain (Consensys) https://co-tricity.com Energy meets Blockchain Joint venture between Consensys & an energy company in Germany. Energy sector is changing rapidly. Prosumer is someone with generative capacity (eg. Solar panels & battery storage). Normal smart meter collects usage about production & consumption. Tracked on Ethereum. Matches up Prosumers to local community things like Schools. The local environmental and economic benefits of keeping it in the local community. Mechanism design, "reverse game theory". Goal is to effectiveise the energy market and reduce costs. Means creating incentives such that the optimal strategy for every participant results in the realisation of this goal. e.g. Help to smooth out the peak in the morning, give a small reward for not using energy in the morning
Learning Of Blog. Introduction to Blockchain Ethereum; ... Ujo Music is a decentralized music store meant for artists. It is a cryptocurrency platform that lets artists create, publish, license, and distribute music and get compensated for it under the Ethereum network. This platform eradicates the concept of intermediaries between the artist ... Available to buy on UJO site, (log-in and pay via MetaMask) for collection of emberTime tracks : ‘burning Nature’…. “Home-brewed guitar folk song outlines & semi-improvisations for fireside reflection & reconciliation. Ethereum is a global, decentralized platform for money and new kinds of applications. On Ethereum, you can write code that controls money, and build applications accessible anywhere in the world. Ujo Music is an Ethereum based, ConsenSys backed music software services company for the modern economic landscape of music. Read writing about Blog in Ujo Music. Ujo Music is an Ethereum based, ConsenSys backed music software services company for the modern economic landscape of music.
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