Tuesday, January 29, 2019

$7 mil in 15 🤑

January 29, 2019

BitTorrent's ICO Netted $7 Million in Less Than 15 Minutes

On Monday, BitTorrent's initial coin offering (ICO) reached the funding target within 14 minutes.

BitTorrent, the peer-to-peer file sharing platform now owned by TRON, raked in $7.1 million after selling 50 billion BTT tokens for $0.00012 a piece.

The token is based on TRON's network and will help the platform to "transact in computing resources shared between BitTorrent clients and any other participating service requesters and service providers."

State of the ICO

With January about to close, the BTT token sale helped boost the struggling ICO market.

According to ICO Bench, half way through January, ICOs had only raised 33% of December ICOs. That amounted to a total of $160 million - half of which came from one project.

But while the 150 ICOs scheduled in January were met with tough investors, 3 out of the 5 major sales still reached or almost reached their goals.

What do you expect from winter?

The numbers detail a falling ICO market alongside the total crypto market.

It's reasonable that as value drops, investors will tighten their purse strings too.

Still, the BTT sale was a feat in its own, likely caused by the strong brand presence BitTorrent already has online.

INTERNATIONAL

South Korea Says No Need for Central Bank Digital Currency Right Now

According to local newspaper the Korea Herald, South Korea is going to hold off on introducing its own digital currency for the near future.

Apparently, after conducting trials and studies around the idea, researchers found no urgent need to pursue the project - meaning their weren't large enough benefits to embark on the endeavor.

An unnamed official commented:

"We have no plans to issue any type of CBDC that is available for all people in the near future. We have to work further on benefits and costs of CBDC implementation first."

Research will continue

Despite the findings, however, South Korea will still continue to pursue the idea through more studies that unlock the impacts of issuing a state digital currency.

Recently, the Bank for International Settlements conducted a survey among central banks worldwide to find:

70% of central banks are researching digital currency issuance
50% of central banks have moved to experiments and hands-on work
5 central banks are already running pilot projects including Sweden and Uruguay

Still, the race continues for the first country to actually implement such an idea.

EXCHANGE

Previously Hacked BitGrail Owner to Return Funds to Customers

In a court decision released Monday, ex-BitGrail owner Francesco Firano has been ordered to return as much funds as possible to victims of the alleged hack.

To accomplish the order, the court mandates that Firano "be declared bankrupt, authorizing seizures of many of Mr. Firano's personal assets."

Already, over $1 million assets including his car have been seized.

BitGrail, not Nano

When the hack was announced in February 2018, funds were already lost months before from ongoing attacks.

The losses amounted to $150 million and as Firano panicked, he blamed the situation of Nano developers claiming they had a vulnerability that allowed the theft.

In the end, the court found it was indeed BitGrail's fault after a software flaw allowed multiple withdrawals.

BITS

But wait, there's more...

💸 A Swiss wallet firm is producing physical bank notes for a Marshall Islands digital currency.
🧐 Saudi Arabia and the UAE are looking to share a digital currency to cut costs.
👀 Crypto exchange QuadrigaCX goes down for alleged "maintenance issues" amid legal battle.

MEME

Bri7ryQf8RIt7CQA0WQsFjZPo7tcNZ28nih_2hs6xQU.jpg?fit=crop&crop=faces%2Centropy&arh=2&w=640&s=f7336f0a414e141f45bed2dd026bbf6d

SHARE UNBANKD

If you ❤️ Unbankd, share us with your friends to help them get crypto smart too!

So far you have 0 referrals but we still have more rewards for you.

INVITE FRIENDS

Or copy & paste your unique link to share:
https://unbankd.co/?ref=192f87b56d

SUBSCRIBE	FEEDBACK	ADVERTISE

303 5th Ave SE, Minneapolis, MN 55414

The above is not intended to be investment advice.

Copyright © 2018 Unbankd, All rights reserved.

If you don't absolutely love us, drop us.

Week 05: Komodo's Tech Tuesday. Peer To Peer Order-books.

Read Later

Forward

Tech Tuesday

If this is the first time you're reading our newsletter you can subscribe here and guarantee you don't miss out on important news.

Week 05

DEX: Peer To Peer Order Books And The "First Atomic Swap"

Komodo has one of the longest histories in atomic swap development with lead developer jl777 having exchanges with Tier Nolan who is credited as having discovered the initial design of cross chain trading protocol. This is very different from the on-chain DEX "atomicity" described in many of the current products based on a single blockchain, not cross blockchain.

In previous Tech Tuesdays, we have given updates on the marketmaker v2 development leveraging peer to peer libbittorrent-DHT technology for better NAT performance. Marketmaker v1 had decentralized order books. Even these could have conceivably been used for oraclizing into KV storage as a rudimentary oracle. However, Komodo has real Oracles Crypto Conditions (CC explained here and developer crypto conditions info here) to save different data (text, files, binary, etc. see below the proof of certifications) which are the topic of discussion on discord and calls.

This week, Komodo CTO tweeted about mobile phone atomic swap DEX testing for both maker and taker (bob & alice, seller & buyer).

A post of the first automated atomic swap, not the infamous "Charlie swap" declared by many as the first atomic swap, by Litecoin Charlie Lee. These had already been done many times in the 2017 Komodo slack, and years earlier as proof of concept before coding the automation of cross chain trading by UTXO atomicity.

I have chat logs to search through for more evidence, but there are great snippets like how to create a liquidity provider linking to a Bittrex account in April 2017. These were times of the community doing atomic swaps with the software by executing commands as the Tier Nolan protocol was happening on live blockchain! The community, not developers!!

In writing this section, I intended to only post 1 snippet, but on looking for that, I've scrolled to find things that are worth spending the extra minutes for this summary for Tech Tuesday. I know people will enjoy reading it as much as I am writing it – and sure there'll be some nostalgia amongst the early testers! The pioneers in atomic swap DEX trading. In 2019 mobile DEX testing we have the luxury to use our dedicated test chains BEER & PIZZA. But in 2017, the early pioneers were using their own cryptocurrency.

2017-04-08.json: "text": "you will need to fund the BTC and KMD addresses with 100 KMD utxos",

Two weeks later, a guide is published (wait for hybrid dex news that is not only proxy token but maybe even atomic swap based).

2017-04-23.json: "preview": "Instructions for running LP (liquidity provider) Node\r\n\r\nPrerequisites:\r\n\r\nIt is required having a Bittrex account with activated api key, a Blocktrail.com api key (available for free from site, only needed for BTC blockchain requests), a funded Bitcoin account, and a funded KMD account. The Bitcoin and Komodo accounts should be dedicated entities only funded with what is intended for the purpose. The Komodo account should be funded with 100 KMD UTXO. A simple method for achieving this is funding the LP account with several 100.0001 KMD transactions from a feeder account (steps can be done in batch with script). Setting up the Iguana account with a new wallet is explained in https:\/\/github.com\/SuperNETorg\/komodo\/wiki\/Setup-Komodo-Notary-Node under 'Setting up SuperNET\/Iguana'.\r",

A history of peer to peer order book bugs (yes, because when you write code, you will write bugs too):

2017-07-03.json: "text": "Btw, jl777 yesterday i couldnt get a coqui utxo to appear in the orderbook",    My favourite from this mornings grep (command line text tool built into operating systems in the 1970s)    2017-08-26.json: "text": "can someone who did ZEC atomic swaps get the txids for all the tx for a specific ZEC swap? ideally a ZEC\/BTC swap, but any ZEC swap would do",

I could write a book called, Living With Komodo Developers… more history will become available as time permits – various community members have chat logs, server logs, server bills for those server logs, transaction ids, github commits etc.

Blockchain Oracles: Store Proof Of Certifications

It doesn't matter which industry, it doesn't matter which certification – a public blockchain based certification system can prove a person really has a necessary skillset.

During a team meeting some weeks ago, the dialogue went something like this: There are rampant plagiarism and doctoring of XXXX certifications, it's a 50 million dollar industry in this area of the world alone. Can we provide a proof of concept?

Whilst on the call we found some sample certificates, uploaded them to an oracle and then downloaded them down the other end. The storage of a digital file is not a problem – it's the workflow that needs to be married into the existing systems that need a consultation with people in contact with existing systems. We are still exploring ways to work with certification providers and provide a solution on a case-by-case basis.

If you would like to work with us in providing these solutions, please contact partners at komodoplatform.com by mail.

In the meantime, please visit our discord channel #cc-oracles which have a focus using the existing test tools that have been made including blockchain oracle location services, blockchain chat records and the file uploader mechanism from this article.

The channel topic states: This channel is for discussion and announcements surrounding the oracles crypto condition contract. Please feel free to answer any questions, technical or non-technical. The oracles contract can be used for converting off-chain data into on-chain data. It has a vast set of use cases as dapps and other contracts can trigger actions based on what is written to an oracle. Please see the channel's pinned messages for examples of how it is currently being used. Alright#0419 and will be happy to answer any questions you may have when they are available.

Tutorial: A Series Of How To Use Komodo Crypto Conditions Has Begun Editing And Refinement

This week saw some refinements to the Crypto Conditions tutorials. Not public yet, but are scheduled for this week initial release in discord for our community to give feedback. Given the history of the above atomic swap testers, it's tempting to just let loose with them at the moment – but I'm really on a tight schedule to delivery other work, and leaving community testers with support issues when I don't have time to help is just not how I'd like to do it.

To prepare, if you have ubuntu Linux on a laptop, server, KVM virtualization or VirtualBox, install docker and have plenty of space. If you want to sync komodo, you'll need 9GB – but not necessary for tutorials.

Why Docker For Blockchain Tutorials?

Using Komodo you can create a blockchain or a scalable blockchain cluster. Our aim is to get you using the technology within 10 minutes. Docker containers are lightweight so you can create several Komodo instances for exploring the technology without over-extending on your resource budget and use a single host to run multiple full nodes.

Testing with users in different networks and environments, we found that this recipe causes less friction and frustration.

Although docker adds a layer of tooling, it is only as complex as you make it – and we're not making it complex. We will build a container, create several volumes for data storage, make a separate docker network and run several instances.

Should you wish to uninstall, it is a matter of removing the docker artefacts: container, network, volumes and if also docker and your system should be as familiar as always.

Ubuntu 18

sudo apt update  sudo apt install apt-transport-https ca-certificates curl software-properties-common  curl -fsSL https://download.docker.com/linux/ubuntu/gpg | sudo apt-key add -  sudo add-apt-repository "deb [arch=amd64] https://download.docker.com/linux/ubuntu bionic stable"  sudo apt update  apt-cache policy docker-ce  sudo apt install docker-ce  sudo systemctl status docker  sudo usermod -aG docker ${USER}  ##########################  #LOGOUT OF YOUR SYSTEM & LOGIN AGAIN  ##########################  docker ps -a    Ubuntu 16

curl -fsSL https://download.docker.com/linux/ubuntu/gpg | sudo apt-key add -  sudo add-apt-repository "deb [arch=amd64] https://download.docker.com/linux/ubuntu bionic stable"  sudo apt-get update  apt-cache policy docker-ce  sudo apt install docker-ce  sudo systemctl status docker  sudo usermod -aG docker ${USER}  ##########################  #LOGOUT OF YOUR SYSTEM & LOGIN AGAIN  ##########################  docker ps -a

And sit tight until https://github.com/komodo-techtuesday/blockchain-tutorials this blockchain tutorials repository has some files and instructions! This is Komodo community spirit!

Past Issues of Tech Tuesday

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

COIN	PRICE	24H

BTC	$3,455.15	- 0.13%

XRP	$0.293628	+ 0.93%

ETH	$106.40	+ 1.53%

EOS	$2.30	+ 2.29%

USDT	$1.01	- 0.12%