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You must not know this silently growing ecological kingdom: Arweave has been online for 3 years. So far, there have been more than 200 applications based on the Arweave network, involving social networks, infrastructure, content distribution, and verification tools. Etc. multiple categories.
Written by: LeftOfCenter
Knowing that the previous discussion titled ” Is there a place to permanently store data? ” has received more than 980,000 views. Although the hot reviews are full of amazing brains, what we can see is the information The problem of long-term storage is helpless and staying away.
After all, Internet storage products that are currently well-known to most people are not reliable. Once the operation team behind the product loses control, data will be lost, and self-purchasing hard drives to save data also has the risk of hard disk damage and unreadable. .
But in fact, as early as two years before this issue was raised-in 2017, the Arweave team dedicated to creating a ” permanent storage of information ” solution was established, and at the beginning of its establishment, it threw out a very ambitious vision: Permanently preserve human knowledge and history. But for a long time, because the product is not yet mature, Arweave has not really entered the public eye.
In the past three years or so, we have seen Arweave progress towards its goals. As the network effect of the developer ecology gradually emerges, more and more web applications appear on the Arweave protocol, no matter exquisite or rough, a gradually approaching complete ecological puzzle begins to appear gradually .
So far, there have been more than 200 applications based on the Arweave network, covering multiple categories such as social networks, infrastructure, content distribution, and verification tools.
As the Arweave development team will release version 2.4.0.0 today, introducing a new consensus mechanism SPoRA , this agreement may increase the number of data copied in the network to 100-1000 times the order of magnitude, and at the same time more on the network The calculation is transferred to storage. This will be an important development milestone.
It’s time to summarize the development status of Arweave ecology.
What is Arweave?
Arweave was founded in 2017 and graduated from the Techstars Startup Acceleration Program in Berlin in April 2018. As a blockchain-based file storage protocol , Arweave has the characteristics of one-time payment and permanent file storage. Through a set of simple economic incentive rules, miners can store data for a long time. Internet users can use the Arweave browser plug-in to permanently store digital files and data such as web pages, emails, and social media posts on the blockchain.
At present, the data loss rate on the Internet is very high. Data shows that more than 95% of the information on the Internet will no longer exist every 20 years. This is the problem that the blockchain data storage protocol Arweave wants to solve, that is, to provide a permanent data storage solution for the Internet, and based on an encryption incentive mechanism, to encourage developers to build a permanent application ecosystem based on the protocol.
Permanent storage is the core function of AR. On the Arweave protocol, permanent storage of 1 GB of data consumes 2.45 AR, which costs about $ 19 (due to the fluctuation of AR prices, storage costs will fluctuate to a certain extent).
Arweave can guarantee the perpetual data retention, stable price, and cheap. Relying on blockchain technology, the data stored in AR also has the characteristics of verifiable and traceable, which is very suitable as a “Turing paper tape” for trusted computing.
The Arweave protocol introduced Smartweave smart contracts, which is a Javascript-based scripting language stored on the Arweave network.
Unlike the smart contracts of Ethereum (and other public chains), Smartweave is not executed by miner nodes, but is downloaded and executed locally by the caller. Since the caller node has executed (and verified) all the transactions in the history of the contract, he does not need to trust or rely on any nodes to obtain credible calculation results (that is, the new state of the smart contract). Therefore, every Smartweave contract can be regarded as Arweave’s second-layer chain , and executing smart contracts is the full synchronization and verification of the second-layer chain.
This design solves the scalability/computing cost problem of the DApp business logic layer of the Arweave protocol. Smart contracts can almost unrestrictedly contain any complex calculations, and only need to pay a very low marginal cost, because usually the caller’s computing equipment has been purchased or long-term leased.
In addition, the caller can form a snapshot of the contract state by naming the result state of the contract. If the caller is trustworthy (for example, if the caller is a smart contract developer), subsequent callers can specify the state snapshot as the initial state. Only the transactions after the snapshot need to be executed to solve the problem of state explosion.
Regarding Arweave’s technical principles and development prospects, Liu Yi , the founder of Cdot Network and partner of Random Capital, once wrote an article for Chain News, ” The potential of Arweave is to rejuvenate the Library of Alexandria, not a Filecoin substitute “, specifically introducing it.
Arweave will undergo a major technological upgrade recently. Its development team released version 2.4.0.0 , which will activate the hard fork at block height 633720 at 2021-02-24 11:50 UTC, and will introduce a new consensus mechanism SPoRA , which can be fundamentally stored in the network The number of data replications increased to 100-1000 times the order of magnitude, while more calculations on the network were transferred to storage.
In addition, Verto Exchange co-founder and CTO John Letey recently released a SmartWeave patch, which supports the embedding of smart contracts in any asset created on Arweave. Just add two tags to convert data formats such as web pages, images, videos, and audios into profit-sharing tokens or NFTs. After that, you can trade on The Verto Protocol, just like any other asset.
Profit sharing token PST and its community PSC
It is worth noting that Arweave has adopted a Profit Sharing Token (PST) mechanism , which can fundamentally improve the way developers create network services.
In this mechanism, a permanent application developed based on the Arweave protocol can issue a ” profit sharing token PST “. Whenever a user interacts with the application and generates a transaction on the Arweave network, a specific PST token will be issued Holders send tips billed in Arweave’s native token AR, and the allocated amount will be based on the share ratio of the PST token.
The PST mode is of great significance to both the developers and users of Web applications.
First of all, as long as the developed Web application has sufficient use value, developers can get paid for their work without performing any other operations, and support the immediate realization of sales in the secondary market.
Second, it is fundamentally different from the ICO model. This profit-sharing token mechanism is a more practical investment model. In the past ICO model, the development team of a project usually crowdfunded based on future ideas. In this case, investors often need to believe that the team has the ability to build and launch a product, and then invest in the system through ICO. A token of a certain value. The shortcomings of this model are obvious, resulting in a large number of unrealizable and even false projects.
The profit-sharing token mechanism is completely opposite to the ICO model. Only when a transaction actually occurs will tip payment be generated. This means that token holder developers can obtain tip income after the product is launched. This is a well-established business model.
When the PST token is launched on the exchange, community members can become the holder of the token by purchasing, betting and sharing the future success of the application. At this time, investors buy a reliable and predictable micro-dividend, which is collected in real time every day and can be sold for cash in the secondary market.
Furthermore, Arweave also proposed a profit sharing community PSC (Profit Sharing Communities). Developers issue specific tasks by rewarding PST tokens. Contributors receive tasks that they are interested in and are good at. After completion, they can obtain shares representing the application. PST tokens for rights and income rights.
In this way, these applications can widely absorb external contributors, and at the same time, distribute the project’s PST equity tokens to active community builders.
Users who want to participate in the PSC construction of the Arweave profit sharing community can claim tasks here . The categories currently involved are bugs, designs, functions, etc.
What are the PSCs in the profit sharing community?
At present, the number of applications created based on the Arweave protocol has exceeded 250 , and the categories include content distribution platforms, social platforms, file storage solutions, developer tools, archive robots, decentralized exchanges, etc.
Financial applications
Verto (Popular App)
Verto is an exchange based on Verto Protocol, created by the development team th8ta , and is still in the beta version of ALPHA.
Verto is a decentralized exchange dedicated to trading PST tokens based on Arweave. Currently, 10 PST tokens have been listed. Verto also released the scene mining tool Astatine , which can be used by the creators of the profit sharing community to reward early adopters and supporters with profit sharing tokens.
Verto recently added support for the Ethereum bridge, allowing users to purchase profit sharing tokens PST with one click. Specifically, the Ethereum bridge will allow users to exchange ETH, AR and any PST tokens at will through the Verto exchange. In addition, the new bridge will also allow holders of Verto’s native token VRT to receive Ethereum-denominated transaction fees.
As one of the ecological projects of the Arweave agreement, Verto recently received a Pre-A round of financing. Investors include 1kx, Variant and Arweave teams, Liquidity Ventures, Alex Pack, Jack Herrick, Thomas Bailey, Scott Moore, Garrett MacDonald and Rob Chan .
The development team th8ta recently released the arweave.js library, which can achieve an Arweave wallet experience similar to the MetaMask experience.
everPay
everPay is a trusted cross-chain settlement protocol based on the Arweave network and using a storage-based computing paradigm. everPay will lock the encrypted assets on other public chains in smart contracts and map them to the corresponding assets, thus enabling users to transfer and make payments based on specific protocols. everPay transaction costs are very low, thousands of transactions only cost $0.05. In addition, everPay has no TPS limit, and the size of TPS depends on the application architecture and server performance of each protocol.
everPay has just released the Beta version.
Limestone
Limestone is a decentralized oracle that provides price data for multiple financial agreements, and provides affordable financial data storage, efficient query processing and permanent availability solutions for the Arweave network.
Limestone’s pledge mechanism guarantees a robust and fair dispute resolution solution and encourages community members to evaluate reports and report errors. Limestone can even achieve cross-chain bridging and link user identities.
Content distribution applications
Mirror.xyz
Mirror.xyz is a content publishing product created by Denis Nazarov, a former partner of a16z crypto. It combines DAO, Web3, and NFT to build an ownership economic model, providing content creators with a set of crowdfunding tools to solve creators’ When it comes to money, it is difficult to realize the value of content. Early investors can even earn content in the future through their keen sense of smell.
Mirror uses Arweave to store data to achieve permanent storage, including the content published by the creator and all related changes, and all the information needed to verify the authenticity of the author. Arweave not only provides permanent data storage, but also only pays once for the first upload.
The platform has just recently migrated its registered token Mirror Write Token (WRITE) to the mainnet.
This is a content crowdfunding platform that combines NFT and ownership economy, which has great potential for getting out of the circle. It may have a revolutionary impact on the field of content creation and distribution. For the specific introduction of this product, you can refer to the reading: “We have seen the revolution of content creation and the dawn of the Web 3 era from the new product Mirror.”
ArcLight
ArcLight is a peer-to-peer music and audio content distribution platform built on the Arweave network. Creators can use ArcLight to upload encrypted content (including singles, albums, podcasts and sound effects), and at the same time set their own prices for downloads, eliminating the centralized middlemen in the traditional music industry.
Bandplay
Bandplay is a music platform owned by the community. Music lovers can fund their favorite musicians. At the same time, if they are optimistic about the future success of a certain musical work, they can also invest in it.
Myco
Myco is a communication publishing platform based on community ownership, which can be owned and governed by users. In addition, Myco also provides a set of tools to facilitate user-owned community creation and distribution of value.
OpenBits
OpenBits is an open source software package publishing platform that aims to provide open source contributors with a more diverse return.
W3Stream
W3Stream is a video streaming platform based on the Arweave network. Content creators can directly get rewards from viewers through their works, while supporters share part of the creator’s income.
Storage and archiving applications
Permanent Archives (Popular Applications)
The Permanent Archive is dedicated to capturing important political and historical information on the Arweave permanent network. The first data set was stored in January 2021. The stored content was the U.S. Capitol riots on January 6, 2021. It contained 12GB of pictures, videos and streaming media from Twitter, Facebook, and Twitch platforms. You can access the content by accessing app.ardrive.io and attaching the following drive ID “afa4f6e1–2401–46e1-ae2e-0d84926394e9”.
ArDrive (popular application)
ArDrive is a full-featured permanent file storage application , a decentralized version of Dropbox, with privacy and anti-censorship features, and can provide a more secure permanent data storage solution.
Sarcophagus (Popular Application)
Sarcophagus is a smart contract network hosted on Arweave, allowing users to create a universal, autonomously controlled, digital version of the disabled switch, thereby providing a defense mechanism against digital threats. Sarcophagus use cases include the storage of wills and testamentary documents and password recovery.
Dead man’s switch is a switch that can automatically act when the operator loses his behavior, such as death, loss of consciousness, or leaving the control device. Originally refers to switches used in vehicles or machines, and later also used in virtual fields such as computer software.
Permabot
Permabot is a Twitter bot service dedicated to archiving tweets, not just URLs. Once archived, the content will be permanently stored on the Arweave network, and users can re-access it at any time. The public beta of Permabot will be released in the first quarter of 2021.
Gitopia
Gitopia is a decentralized version of the code repository service , which ensures that the developer’s code will never be lost or damaged maliciously or unintentionally. Gitopia, previously known as dgit, is currently used by most profit-sharing communities to host open source code libraries. In addition, the code repository of the Arweave development team is also mapped to Gitopia.
Nest.Land
Nest.Land is a completely decentralized community project that supports the publication of a permanent and undeletable Deno module registry on the Arweave network. By using Arweave’s permanent storage capabilities, Nest.Land provides developers with a truly reliable storage solution and access to important Deno software packages.
Infrastructure tools
Amplify
Amplify is a decentralized economic solution based on the Arweave gateway, designed to provide incentives for trusted gateway operators. As an Arweave gateway consensus protocol , the Amplify protocol uses pledge and voting mechanisms to ensure the effective operation of trusted gateways and can increase the query speed on Arweave by more than 20 times.
ArGo
ArGo is a permanent deployment tool that allows developers to deploy permanent applications with one click. It supports Angular&Next web applications and DNS integration. ArGo supports collaboration, automation, and can integrate with GitHub and GitLab, allowing one-stop maintenance of multiple development versions and tracking logs of the application, ensuring that it can never be changed or lost.
ArGo is still in the Beta version, and the current number of users has exceeded 100 developer users, and more than 200 dapps have been deployed.
CommunityXYZ
CommunityXYZ is a decentralized dashboard and governance platform dedicated to profit sharing community projects. Project founders can create and manage communities on CommunityXYZ, publish specific tasks that provide PST token compensation, and potential contributors can receive and complete tasks Get paid.
Koi
Koi is a data layer protocol for building an open source code library, which uses an attention incentive mechanism to promote contributions to the permanent network.
Verification Service
ArVerify
ArVerify is a real identity verification tool that can verify whether the account is a real person, a fake or a bot. With just one line of code, ArVerify can easily integrate existing DApps.
Feather
Feather is a cloud computing solution based on the Arweave permanent network, allowing developers to use cloud services to execute code in a safe manner, and the execution of the code can also obtain economic incentives.
fQR Weave
fQR Weave is an anti-counterfeiting solution that combines QR code and Arweave permanent storage. fQR Weave has obtained more than 7000 academic certifications.
WeaveID
WeaveID is an Arweave wallet solution that allows users to log in to the Arweave wallet based on their email address and password. This means that users can use WeaveID to log in to the app from any device without having to deal with key files. For developers, adding WeaveID to the app only takes a few minutes.
social media
Decent.Land
Decent.Land is a new type of social network platform based on the Arweave permanent network. It is currently under development. Users can join the network through the registration waiting list.
The recent history of Tesla’s investment of 1.5 billion US dollars in Bitcoin has been permanently stored through Decent.Land.
On February 22nd, decent.land released the decentland-js API, allowing users to call the API to interact with the DecentLand protocol.
Since all applications in the Arweave network are open protocols, any permanent application in the network can access decent.land and increase the users of decent.land. Through the benefit-sharing community model, it will bring benefits from the integration of the protocol developers.
squad.vision
squad.vision is a social network protocol based on the Arweave permanent network, which was also developed by th8ta, the team behind the Verto exchange.
Based on this agreement, users can generate their own PST token QUAD . Once the user follows another user, it will automatically mint a PST token and send it to the other party; when a user publishes a post, an NFT is generated. NFT can be jointly owned by multiple QUAD token holders or sold to other users; if someone likes the post, QUAD token holders can earn income in the form of tips.
Whether it’s likes, following or creating content, squad.vision can add value to these actions, making them a scarce resource. This means that users are motivated to focus only on people who are valuable to them, or they will return Followers; this means that users can become shareholders of other community members, and social operations can generate revenue. As a community ownership experiment, all profit-sharing tokens QUAD will be airdropped to users who hold more than 0.1 AR.
DAO
ARCA DAO
ARCA DAO is a DAO organization in the Arweave network. It operates independently. Its members are long-term miners, developers, and supporters from the Arweave community. The goal is to coordinate, plan, and allocate funds for projects and programs that benefit the Arweave community in the long run. ARCA DAO currently has 17 senior community members. Membership is not fixed. New members can join and old members can leave. The core Arweave team has donated 25,000 DAI to ARCA DAO and provided follow-up funding.
Financing status
So far, Arweave has completed multiple rounds of financing, many of which are star crypto funds.
Arweave’s early investors include 1kx and Techstars . In June 2018, Arweave raised US$8.7 million through ICO.
November 2019, Arweave completed $ 5.0 million financing, encryption asset investment institutions a16z lead investor, venture Union Square (Union Square Ventures) and Multicoin Capital investment parameters.
In March 2020, Arweave completed a new round of US$8.3 million in financing. Investors included Andreessen Horowitz (a16z), Union Square Ventures, and Coinbase Ventures, who led Arweave’s last US$5 million financing round. The funds from this round of financing will be used to expand Arweave’s community ecological construction plan.
In February 2021, the venture capital firm Version One Ventures announced that it has invested in Arweave, and the investment amount has not been disclosed.
Arweave has always attached great importance to the support of the developer ecosystem, including incubators and funding programs. Recently, Arweave announced that it will start a six-week open web incubator Open Web Foundry on March 1st. Projects participating in the event can receive expert training and support, as well as the opportunity to obtain a total of US$100,000 in official investment and Arweave The investment quota of other investors in the ecosystem. The winning project will be submitted to Gitcoin by the Arweave core team before April 9th, and then the official will discuss with each project and its founder individually.
With the development of the developer ecosystem, there will be more Web applications Arweave protocol, these applications based on Arweave agreement known as the “profit-sharing applications” (Profit Sharing Applications). Like Arweave, these applications have some specific attributes, including permanence, based on a token, governed by the community, developers and users in the community have the same economic motivation, and can share the future success of the community and its applications .
Reference materials:
https://medium.com/everfinance/everpay-a-trusted-cross-chain-payment-protocol-eba4a0af7d66
https://twitter.com/samecwilliams/status/1361817571410984966
https://www.chainnews.com/articles/124011762292.htm
https://github.com/ArweaveTeam/arweave/releases/tag/N.2.4.0.0
The integration of the banking industry and listed companies into the crypto industry is undoubtedly a solid force to support the confidence of the wait-and-see to enter the market.
Title of the original text: “Successful by Bitcoin? Sorting out the digital currency layout of banking giants and traditional institutions”
Written by: Li Zheweng
Musk himself may not have thought that Tesla, which he founded, spent 1.5 billion US dollars to buy Bitcoin, and only 10 days after buying Bitcoin, the floating profit reached 800 million US dollars, which exceeded the profitability of his own car for more than ten years. The “call orders” of large traditional institutions have also directly brought the market value of Bitcoin to the trillion-dollar mark.
At the same time, Saylor’s micro-strategy company once again successfully raised over US$1.05 billion through convertible bonds to continue to purchase BTC “ammunition”. The company has successively bought more than 70,000 bitcoins since last year.
This enthusiasm for admission is both an affirmation of BTC’s status as “Noah’s Ark” in the era of global water release. Of course, in addition to these institutions and rich people who have bought in the market, the traditional banking industry has also accelerated its embrace and openness to cryptocurrencies in the past two years, which will pave the way for wider acceptance of cryptocurrencies in the future.
PANews is here to sort out the banking industry and the integration of major listed companies into the crypto industry so far. They are undoubtedly a solid force to support the confidence of the wait-and-see to enter the market.
Banking and Encryption Enterprises: Two-way Openness, Accelerating Integration
As we all know, a prejudice of many regulators towards the crypto market is: lack of reliable custody methods. In other words, many crypto industry institutions cannot access complete banking services. This is undoubtedly the core constraint that prevents listed companies from deploying crypto assets. This situation has undergone tremendous changes in 2020.
In the statistics, PANews included 35 banks that are friendly to the crypto industry and have substantial business dealings with crypto-native companies, of which 11 are concentrated in the United States, 10 are concentrated in Switzerland, and the others are mainly located in Europe such as the United Kingdom, Germany, and Malta. Financial center. The median assets of these banks are 866 million U.S. dollars, and 6 have total assets exceeding 2 billion U.S. dollars.
The strong position of the United States in the crypto banking industry is not only the result of its long-term continuous exploration of the crypto industry, but also a series of administrative orders issued by the Office of the Comptroller of the Currency (OCC) last year, which has promoted the rapid growth of crypto-native enterprises and banks. Run to each other and hug each other.
For example, the U.S. OCC Agency launched Payment Charters, allowing crypto-native companies such as Kraken, Paxos, and BitGo to convert their state-level trust company licenses into national trust bank licenses, upgrade them to banks, and mature later At that time, the aforementioned similar institutions may be opened to directly access the Fed payment system;
OCC also opened up exposure to the direct custody of encrypted assets in the U.S. banking industry, and even further allowed the banking industry to use public chains and encrypted USD stablecoins as the infrastructure for payment, clearing, and settlement in the future. It is against this background that PayPal is trying to negotiate the acquisition of BitGo and other crypto-native custodians. The accelerated listing of Coinbase undoubtedly benefited from this. As of February 20th, Coinbase is in the Nasdaq private equity market. The valuation has reached hundreds of billions of dollars.
It can be seen that many banking giants have entered the game or made positive statements.
According to PANews, JPMorgan Chase is already providing banking services for US-licensed exchanges such as Coinbase and Gemini. Daniel Pinto, co-president of JP Morgan Chase, recently stated that the agency will eventually have to launch a Bitcoin service.
BNY Mellon, one of the world’s largest custodian banks, announced that it will launch a new digital currency custody unit in 2021 to help users trade digital assets, including cryptocurrencies.
Another concentration of crypto-friendly banks that deserves attention is undoubtedly Switzerland. In fact, some of its opening-up measures may be earlier than the United States. In 2019, the Swiss Financial Supervisory Authority (FINMA) set the limit of 100 million Swiss francs in deposits, opened up qualified crypto companies to apply for banking licenses, and allowed the traditional banking industry to participate in this process; in the same year, it approved Vontobel, Many traditional large banks in the country, including Swissquote, have carried out encrypted asset custody business, and approved SEBA and Sygnum’s banking licenses based on encrypted asset business.
In Asia, DBS Bank of Singapore took the lead in launching an integrated platform for digital asset issuance, trading and custody. It supports exchanges between BTC, ETH, BCH, XRP and Singapore dollar, U.S. dollar, Hong Kong dollar and Japanese yen in advance. service.
BTC will soon become the standard equipment for listed companies, run and enter to relieve Fomo’s emotions
If the continuous iteration of traditional large banks and encrypted banks is the basic ticket for companies like Tesla to enter the market, then the disposition of Bitcoin by a public company will prepare enough playmates for Tesla.
According to statistics from bitcointreasuries.org, a total of 19 North American/European listed companies have allocated BTC so far. In addition, “ETF-like” funds such as Grayscale and CoinShares have acted as the mainstay, managing a huge amount of BTC. The total amount of BTC held reached an astonishing 948,720 pieces, accounting for 4.747% of the total amount of BTC.
It is particularly noteworthy that the business of Grayscale has soared in 2020. AUM has increased by nearly 50 times, reaching the level of 17 billion + USD in early 2021. As of February 20th, Beijing time, Grayscale’s AUM has already Reached 43.626 billion US dollars.
The market expects that such funds will have more competitors in 2021. Bitcoin ETFs that have not been reviewed in the United States also have a higher probability of being approved for launch this year, and they may have more competitive management than Grayscale Fee rate.
For example, BlockFi’s newly launched Bitcoin trust fund has an annual management fee rate of only 1.75%, which is 0.25% lower than the gray fund GBTC. Recently, two BTC ETFs have started trading in the north of the United States and Canada, the first of which The ETF named BTCC recorded a single-day trading volume of US$165 million, and it has even attracted the attention of well-known fund managers such as Dan Bin in China.
For listed institutions such as Tesla, they will undoubtedly have more abundant tools and channels to configure and arbitrage BTC, and this kind of direct purchase of BTC through the fully compliant securities market will surely become a more secure choice for listed institutions.
Disclaimer: As a blockchain information platform, the articles published on this site only represent the author’s personal views and have nothing to do with ChainNews’ position. The information, opinions, etc. in the article are for reference only, and are not intended as or regarded as actual investment advice.
Avalanche is swiftly “staking horses and enclosing the land”, uniting many partners to seize new territory of openness and integration.
Title of the original text: “Looking at the Development Philosophy of the Avalanche Agreement from “Broken” and “Established”
Written by: Meio
Based on Avalanche’s innovative consensus, the public chain star project Avalanche Avalanche Agreement is rapidly “staking out the land”, cooperating with many partners to build a new ecosystem of openness and integration, and grab the cake of the blockchain market.
Break through the boundaries of imagination and become one of the most powerful challengers of Ethereum
Blockchain 1.0 represented by BTC is called the “global ledger”, and blockchain 2.0 represented by ETH supports new decentralized applications with smart contracts. Jewels are ahead, and there are countless challengers for BTC and ETH. However, in retrospect, it is found that the above-mentioned star-like technological breakthrough cases in recent years are lacklustre. However, the Avalanche avalanche agreement that appeared in 2018 may be an exception.
Why is Avalanche an exception? All of this started in May 2015. Cornell University published a paper entitled “From “Snowflake” to “Avalanche”: A New Type of Metastable Consensus Protocol Family”, which quickly triggered a response in the market. Become a disruptive technological innovation comparable to Satoshi Nakamoto’s PoW mechanism and Ethereum smart contracts.
You should know that there are three ways to reach consensus in distributed history: traditional methods (with the advantages of high speed, scale, and energy saving), Nakamoto consensus (with the advantages of decentralization and robustness), and the avalanche protocol. The avalanche protocol merges the first two methods into a brand-new protocol. On the basis of a decentralized network, this protocol has scale, security, and high speed. Based on the new consensus of Avalanche, in 2018 Cornell University professor Emin Gün Sirer, computer scholar Kevin Sekniqi, Facebook Libra protocol HotStuff consensus first author Ted Yin founded the Avalanche avalanche protocol.
Protocol comparison chart: Avalanche has scale, security, and high speed
As an open source platform, the Avalanche avalanche protocol (the token is AVAX) is a brand new public chain driven by the Avalanche consensus. This is a consensus protocol based on random sampling and metastable decision-making. Simply understood as: in the process of verifying information, there is no need to compare with the nodes of the entire network, as long as the majority of the N nodes are randomly selected, and then the nodes of the entire network repeat this process. This form of verification between nodes, like a snowball on a mountain, will roll bigger and faster.
Therefore, transactions using this protocol can be quickly confirmed within a few seconds, and its network can support thousands of nodes to participate in consensus. In addition, data shows that the current Avalanche network node (validator) ranks first in the entire network, and it is also far ahead in terms of decentralization.
Number of validators for popular blockchain projects
Secondly, Professor Emin Gün Sirer, the founder of Avalanche, is not only an academic and researcher, but also a typical geek, a pioneer in cryptography, and a legend in the history of digital currency. He naturally has strong technical advantages. As early as 2001, the Karma virtual currency system developed by it was the first network to use the PoW workload proof mechanism. As of now, the papers published at that time are currently the most cited.
In addition to scientific research, he is also the co-founder of bloXroute, a Layer0 underlying protocol that attempts to increase the processing speed of the blockchain and reduce costs through the blockchain distribution network. In addition, Professor Gün also serves as the co-director of IC3, a blockchain alliance funded by the National Science Foundation in 2015. Emin Gün Sirer also works closely with core developers of blockchain projects such as Bitcoin, Ethereum, and BCH in academic research and technology commercialization.
It can be said that the high performance of the network brought by the unique consensus protocol and the brilliant background and professional ability of the founder naturally gave the Avalanche Protocol a star aura, making it the focus of industry attention.
But it is worth noting that Avalanche is not a traditional public chain project, it is more focused on an open source blockchain platform designed for decentralized finance (DeFi). Its founder also pointed out: “Our focus is to build a commercialized decentralized financial platform.” However, unlike the current main DeFi or cross-chain in the market, the highlight of Avalanche is interoperability.
Avalanche is compared with the current DeFi or cross-chain projects in the market
That is what the Avalanche official website introduces: users can customize the blockchain or digitize assets with arbitrarily complex rule sets. Therefore, its network design adopts a three-chain model, X chain (responsible for transactions), P chain (responsible for coordinating governance), and C chain (responsible for smart contracts) to support the self-combination and customization of various blockchain elements, allowing anyone Deploy a blockchain that suits your application needs.
Based on the present, continue to innovate, and work with partners to build an ecosystem
In the face of the great changes in the digital age, continuous development of partners and deepening and broadening of development areas are decisions made by the Avalanche Agreement based on industry development.
We have observed that the silent layout of the Avalanche Agreement and the continuous acquisition of new partners actually started very early. In June 2020, the avalanche agreement AVA Labs announced the cooperation with the oracle Chainlink to allow AVA developers to develop decentralized financial applications more efficiently. The Avalanche Protocol officially stated that Chainlink can make AVA’s contract chain perfectly compatible with all current DeFi tools, including MetaMask, Web3.js, etc.
On December 3, 2020, blockchain infrastructure company Bloq officially announced its cooperation with the Avalanche Agreement, which will provide a blockchain infrastructure for the Avalanche Agreement and help developers and companies build new products and services on the Avalanche Agreement. On December 8, 2020, Avalanche Agreement announced that the crypto asset broker VoyagerDigital will launch AVAX. US investors can trade AVAX through the Voyager app. On December 10, 2020, the tokenized securities issuance and trading platform Securitize has integrated the decentralized service platform Avalanche to improve the efficiency of financial services and reduce costs for its customers. Issuers on the Securitize platform can use Avalanche to issue and manage private security tokens.
Entering 2021, on January 9th, the Avalanche Protocol officially announced that it has integrated with the encryption hardware wallet provider Ledger. Users can now use the LedgerNanoS hardware wallet to store AVAX tokens. On February 23, the Avalanche Agreement announced that it will launch the Avalanche-Ethereum bridge on the mainnet next month to achieve seamless and two-way asset flow between Avalanche and the Decentralized Finance (DeFi) ecosystem of Ethereum. To achieve this goal, WrappedAVAX (WAVAX) is now available on Avalanche and Ethereum. WAVAX will increase its exposure to Ethereum AVAX and realize the interoperability of liquidity dual systems.
At the same time, the Avalanche Agreement stated that the cooperation with YIELD is expected to complete the new integration in the second quarter, which will enable YIELD users to easily obtain new ecological growth opportunities in Avalanche’s DeFi. In general, in the past year, Avalanche Agreement has adopted more plans to develop DeFi products such as Prosper, JellySwap and Pangolin through co-construction and sharing with many partners, successfully expanding the development boundary.
Conclusion
Not only to break the existing industry for the industry, but also to continuously develop and innovate based on the current situation, only companies that can keenly grasp the market pulse can find the right new direction. The Avalanche Agreement is obviously one of them. Since the release of the Avalanche white paper in 2018, many VCs have been bent over. In 2019, the avalanche agreement Ava received financing from institutions such as a16z and Polychain Capital.
Disclaimer: As a blockchain information platform, the articles published on this site only represent the author’s personal views and have nothing to do with ChainNews’ position. The information, opinions, etc. in the article are for reference only, and are not intended as or regarded as actual investment advice.
The background of the beginning of encryption services made NuCypher’s early ecological partners mainly focus on data privacy-focused fields such as medical and finance.
Written by: anger
The mention of NuCypher seems a bit strange to many Chinese investors, but when it comes to Curve, DeFi “farmers” know it. In fact, Curve was founded in 2020 by NuCypher’s CTO and co-founder Michael Egorov.
Although NuCypher’s popularity in China is not high, it still has a certain degree of popularity in the West. In February 2019, Bloomberg columnist Aaron Brown pointed out that four “middleware” projects that will be launched on the mainnet in 2019 should be focused on: Cosmos, Nervos, NuCypher and Polkadot.
In October 2020, NuCypher officially launched the mainnet, and subsequently listed on the first-tier exchanges such as Coinbase and OKEx. The capital forces behind it can be seen:
- Founded in 2015, NuCypher was the first to provide sensitive data encryption services for medical and financial institutions. After good response, it cooperated with many banks to develop encryption software;
- In 2016, it received an investment of 750,000 US dollars from Y Combinator, and then decentralized the infrastructure design and launched the native token NU;
- Raised US$4.4 million through ICO in 2017;
- In 2019, it completed 10.67 million US dollars in financing, led by Polychain Capital. Other investors include Bitmain, Y Combinator, Bitfury, Arrington XRP Capital, Notation Capital, Fenbushi Capital, DHVC, Continue Capital and other institutions.
NuCypher Network milestones
NuCypher is a decentralized threshold encryption service network based on the second layer of Ethereum. It provides a set of threshold encryption operation interface and operating environment, as well as economic incentive measures to ensure the correct behavior of PoS (Proof of Stake) network nodes. It is not difficult to see that NuCypher’s core competitiveness lies in the precipitation of cryptographic technologies such as proxy re-encryption PRE, fully homomorphic encryption NuFHE, and end-to-end encrypted database ZeroDB.
The background of the start of encryption services made NuCypher’s early ecological partners mainly focus on areas that focus on data privacy, such as medical and finance. Subsequently, NuCypher will focus on the construction of the PoS network and the pledge Staking ecosystem.
NuCypher network real-time status, source: https://status.nucypher.network/
Interestingly, in April 2020, NuCypher announced the University Staking Program, announcing that it has reached a strategic agreement with the computer science departments and cryptography laboratories of 11 universities to allocate 1.95% of the initial circulation of NU tokens to these partners. Fang promised to run NuCypher nodes and pledge these tokens for at least the next three years.
Obviously, NuCypher’s strong technical and academic background has further enhanced its project characteristics, and has also improved the diversification of pledge nodes, enhanced research cooperation with universities, and attracted technically skilled participants to the blockchain and PoS fields. The cooperative schools are Arizona State University, Columbia University, Seoul University, Stevenson Institute of Technology, University of California, Berkeley, University College London, University of Malaga, University of Novi Sad, University of Waterloo.
Although the trend of ecological cooperation has not been fully announced in the past two years, NuCypher has also launched products and cooperation at the application level. For example, it recently cooperated with the decentralized content sharing platform Creaton to provide proxy re-encryption (PRE) and decentralized node network , And help it improve and develop application functions. The person in charge of NuCypher China also told Lianwen that the team is preparing the latest ecological layout. From recent developments, it can be speculated that NuCypher may announce more application-level ecological projects.
In March 2019, NuCypher and CoinList held a hackathon with a bonus of USD 25,000. Projects that have been launched include paid blog Stridon, encrypted social network Snowden, and encrypted cloud storage NuBox.
Privacy is an important track that has attracted much attention in the blockchain field for many years. Although NuCypher has not announced the latest ecological layout, we can also get a glimpse of which projects NuCypher has established cooperation with through its ecological projects released two years ago. , Understand their strength and current situation, and what changes have taken place.
The ecological project announced by NuCypher in August 2018
Decentralized application areas
Medical and Biotechnology Data Platform
- MediBloc is a blockchain-based personal healthcare information ecosystem from South Korea. It achieves complete information authority control and decentralized storage through zero-knowledge proxy re-encryption and IPFS. Investors include Naver D2 Startup Factory, Samsung Medical Center, etc.
- MedCredits has been renamed MedX Protocol, which is a decentralized protocol based on Ethereum that connects patients and doctors around the world for medical care. MedX-based DApps will not store or control patient health information to avoid the burden of compliance. Partners include law firms Chetcuti Cauchi, MakerDAO, Civic, etc.
- Medixain is a medical architecture based on blockchain, and users can access medical information and data in the architecture. The project website is currently inaccessible, and its CEO and co-founder Simon Schwerin is now a partner in Berlin-based internet consulting firm iconomy.
- PointNurse is a virtual care coordination and telemedicine company located in Nashville, USA, providing point-to-point emergency, primary and chronic care solutions worldwide.
- wholesome.io is an integrated marketing platform for doctors through which doctors can arrange consultation appointments, telemedicine, marketing, e-commerce and other functions. The platform partners include Harvard Medical School, Oxford University, Bridgeport University and other universities.
- IKU Network is a decentralized research organization DRO focusing on biological research and development. It has worked with MakerDAO to use the stable currency DAI in the network, but the project has stopped updating since 2019.
Key management
- Emblem Vault is currently a product that combines different blockchain tokens into one token. It is also a tradable DeFi pool. COVAL based on this product is an encrypted token transaction protocol with tradable value.
Car data
- CarBlock is a decentralized traffic data protocol. The goal is to ensure that car owners 100% control their data through data encryption and blockchain technology, and use the blockchain-based data market to realize data transactions and allow users to realize valuable data .
Location data
- Dataeum is a crowdsourcing data generation platform based on blockchain. The goal is to collect real-world physical data. The project has completed collection experiments in Paris, Barcelona and London.
Genetic data
- Doctor Chain has stopped updating in 2018. The founder is Zeng Jianhua, the founder of Wuhan Huatide Biotechnology Co., Ltd.
Agreements and infrastructure areas
Medical Data Agreement
- Iryo Network is an open healthcare protocol headquartered in Slovenia. It encrypts medical data through zero-knowledge proof technology and provides OpenEHR medical prototypes and private key management services.
- HealthDex is a decentralized health data exchange (DEX) that provides a market for health data providers, brokers, and consumers, and simplifies brokerage business. Currently the project has stopped updating.
Decentralized database
- Bluzelle is a decentralized data storage network. It recently announced that it will launch the mainnet on February 3 and will integrate with Polkadot. Investors include Hashed, NGC, Kenetic, 1kx, etc.
- fluence.ai has been renamed fluence.network, which is an open application platform. Developers can publish, host, run and operate applications through Fluence without a central server.
- Wolk was originally a decentralized database service based on the Ethereum Swarm platform. It currently provides OPEN Set, a physical tracking and positioning product, to help film and television production companies manage the health and safety of staff under the new crown epidemic through a combination of software and hardware.
Monetization of user data
- Swipe is headquartered in the Philippines and is a platform that supports multiple asset digital wallets and Visa debit cards to purchase and trade encrypted assets. In July 2020, Binance announced the completion of the acquisition of crypto startup Swipe.
- Datum is a decentralized cloud storage platform that provides services to individuals, developers, and product managers. Its partners include DIF, Sovrin, and the Enterprise Ethereum Alliance EEA.
Internet of Things
- Spherity is a digital identity cloud solution provider that provides services for enterprises, machines, algorithms and data to help join the digital economy interaction. Partners include aws, ConsenSys, etc.
- XAIN has been renamed Xayn, an AI company headquartered in Berlin. In 2018, it was famous for its cooperation with Porsche and received a seed investment of 6 million euros. In 2019, it received investment from IOTA co-founder Dominik Schiener, which is dedicated to the development of privacy. Federated Machine Learning (FedML).
Sharing economy
- Origin Protocol is a decentralized sharing economy protocol. Its website stated that a total of US$38.1 million has been invested through three rounds of financing. Investors include Pantera Capital, Foundation Capital, Blocktower Capital, 1kx, FBG, Hashed, etc. In November 2020, its stable currency OUSD suffered a loss of 7 million U.S. dollars due to a hacker attack, and subsequently re-launched the stable currency OUSD and accepted user claims.
Reference
https://www.chainnews.com/articles/266133301244.htm
https://blog.nucypher.com/university-staking-program/
https://medium.com/creaton/creaton-partners-with-nucypher-for-development-and-scaling-33bbe1b82111
https://www.coindesk.com/polychain-bitmain-back-10-7-million-saft-for-encryption-startup-nucypher
https://coinlist.co/build/nucypher
https://tech.eu/brief/berlin-based-xain-secures-funding-in-crypto/
Disclaimer: As a blockchain information platform, the articles published on this site only represent the author’s personal views, and have nothing to do with the position of ChainNews. The information, opinions, etc. in the article are for reference only, and are not intended as or regarded as actual investment advice.
Two of the DeFi tokens have attracted attention recently, one is Link and the other is Sushi. The striking reason is the skyrocketing price.
In my impression, Link has been hovering at more than $10 for a long time, and it has exceeded $20 in one fell swoop in these two days; Sushi has hovered around $1 for a long time, and it has risen to more than $6 in these two days.
These two coins are also highly concerned by our readers, especially Sushi. After being included in the YFI ecology, it has completely turned over. The recent surge in prices has also made many people not optimistic about them. Investors began to change their views.
Many investors have invested in these two currencies, either they got off the car very early, or they bought other currencies because they were not optimistic about swapping positions. Therefore, these investors will feel strong regret and anxiety when seeing the recent trends of these two currencies.
In fact, this is a very common phenomenon in the bull market. Everyone will have this kind of experience and produce this kind of emotion, but once they have this kind of emotion, they must restrain this kind of emotion in time and remind oneself to calm down. Because if this sentiment is allowed to develop, if investors do not think rationally, they will probably blindly throw away other varieties in their hands to chase high and buy these projects. After such a swap, investors will often find out again. The horse breed that I just dumped has risen, and these two coins will not only not rise but fall.
At this time, I usually first review the projects I hold to see if their fundamentals have changed.
If their fundamentals have not changed, I will not arbitrarily sell the coins in my hand to catch up with these popular projects. I believe that with the rotation effect in the bull market, as long as the coins they hold are valuable, they can also usher in their own bright moments.
If the fundamentals of some coins in my hand have deteriorated and the potential is no longer there, then I might consider selling those coins whose fundamentals have deteriorated, and consider replacing them with other coins, but whether to exchange for these popular items depends on their prices. Is the valuation too high? If it is, I will not buy it, but will continue to look for coins with lower valuations.
Readers who have read my article last year may notice that I have also bought LINK, but I sold them all at about 8 dollars. At the time, I thought that LINK, despite being the leader in the oracle field, had not yet popularized its application to the point where it could support the price of its tokens, and it was entirely possible that there would be new competitors in this field, so I think its valuation If it was too high, it was all sold.
Now look at LINK. Its leading position in the oracle field should be more stable than last year: on the one hand, it is increasing its cooperation with projects in the industry; on the other hand, its competitors seem to have not taken decent moves yet. Therefore, looking at its fundamentals now is very good, but I still feel that it is worthy of careful assessment to see how much room it has upside in the future based on its current price.
I remember that after I sold LINK for $8 last year, it was all replaced by Ethereum. At that time, the price of Ethereum was about $300. Now the price of Ethereum is close to 1,200, an increase of almost 4 times, while the current price of LINK is $21. , The increase was less than 3 times. So looking back at the practice of discarding LINK at that time, there was nothing wrong with it.
Now I will continue to pay attention to LINK, but will not buy at this price.
A reader once asked me what I think about Sushi. I said at the time that if I compare Sushi to UNI, I am more optimistic about UNI. The biggest reason why I was not optimistic about Sushi at the time was that a series of operations by his founder made me think that a project is led by such a team and the prospects are worrying.
However, afterwards, Sushi was fully taken over and included in the YFI ecology. The entire project seemed to be rejuvenated, and it was getting rid of the shadows it once had, and from the downturn. In the future, whether it can rush into the circle of first-line exchanges, let us wait and see. I will follow Sushi, but I will not buy it now.
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