Pinata

pinata

How to Build a Secure Anonymous Feedback System With Django, Twilio, and Pinata

This article will walk you through deploying your first DAPP, or more specifically it’s frontend part, through IPFS with help of Pinata — the IPFS pinning service. What are we building? By the end of this article, you’ll be able to take your single-page frontend app, and host it within the Inter Planetary File System (IPFS) . network What is Pinata used for? In our scenario, we’ll use Pinata, to keep our files alive in IPFS. Our setup features a short-lived node, that is online only for a short period of time — until our deployment is finished — by successfully pinning our files with Pinata. (pinned) IPFS Pinata offers a free tier up to 1GB of pinned data Which frontend frameworks can we use? In theory, any. As long as they provide a static file output like Angular, React or Vue does, most likely through webpack or any other modern bundler. Setting up the environment 🐳 Our deployment script is gonna use for the pinning part, while the final example can be seen . pinata-sdk here We’ll use docker to reduce the environment setup hassle, let’s start by cloning the SDK’s repository. Clone the pinata-sdk repository Our repository features a pretty simple Dockerfile , which looks roughly like this Make sure to use the latest version from your locally cloned repository Let’s spin up a , where we can run our deployment scripts. development container This will build an image using the Dockerfile we’ve seen previously, and start an interactive bash shell where we will continue with our example. Interactive shell started successfully Now that we have a nice and uniform development environment, let’s move forward. Building the frontend app 🛠 Our app is generated with , and displays a greeting message when build successfully. You can find the actual app and the deployment script at reason-react pinata-sdk/examples/deployment-dapp-frontend. How the app should look like if build successfully You can build the app as shown below. Webpack output in case of a successful build Result of the build steps above, can be found at the folder. build/ Now that we know how to build our frontend app, we’re ready to deploy it using our deployment script. Deploying to the IPFS Network Our app will be hosted via the IPFS Network, let’s walk through what that means in practice. For files to be accessible on IPFS, someone has to initially serve them. That’ll be our deployment script / local IPFS node. If our app is popular, it will get distributed through other IPFS nodes, which essentially makes our app decentralized. Trick here being that we don’t want to create any extra infrastructure ourself, meaning that we don’t want to host our IPFS node, in order to make our files available permanently. Solution to our infrastructure problem, is — The IPFS pinning service. Which allows us to our files in the p2p file sharing network. Pinata pin (read: persist), We’ve built our app in the previous step, and as a result we’ve got the folder, that should get deployed to the IPFS network to make our app available for others to use. build/ PinataSDK provides an example on how to do that rather easily, trough Pinata’s API. pinHashToIPFS We will use a simple deployment script, the . But we’ll walk through it in the tutorial. original source code can be found here Pinata API Keys We’ll start by registering an account with Pinata (or logging in if you already have one) so we can use the service for our deployment. You can register your account . Then head to once logged in. You’ll see your API keys there. here the account section Those are your API keys. Save your keys under in your editor. [examples/deployment-dapp-frontend/credentials.js](https://github.com/maht0rz/pinata-sdk/blob/master/examples/deployment-dapp-frontend/credentials.js) Deployment script Before we run the existing deployment script, which you can find at , let’s walk through what it does. [examples/deployment-dapp-frontend/deploy.ts](https://github.com/maht0rz/pinata-sdk/blob/master/examples/deployment-dapp-frontend/deploy.ts) Import all the needed dependencies Define where our target build folder resides, so we can deploy it Configure the with our two api keys pinata-sdk Start a local IPFS node using , and wait for it to for a predefined amount of time js-ipfs warm up (e.g. 3 minutes) Once the node is warmed up, add our build folder to it. This will essentially allow anyone in the IPFS network, to view our build files under their hash, which is generated by IPFS as a stamp over our content. Finally, ask Pinata, to pin our content, given it’s hash, and turn off our local IPFS node. Our content will now still be available, even though our local IPFS node is not online/running anymore Let’s deploy our DAPP First let’s edit out component, so we can be sure our deployed app, is really the one we have built locally. [src/Welcome.re](https://github.com/maht0rz/pinata-sdk/blob/master/examples/deployment-dapp-frontend/src/Welcome.re) Once we’ve done that, we can run our deployment script using . After the script finishes, it will output the IPFS hash pinned at Pinata, which we can use to view our website. npm run deploy Deployment successful! The Result You can see my deployment at: http://gateway.pinata.cloud/ipfs/QmNTrW433oWNG3iL3AqWjssJ88FLy3a4UL8Pkt6pnYDtzU/ Your very own DAPP’s frontend, deployed on the IPFS network Got any questions? Trouble running the examples? You can reach out to me on telegram at t.me/maht0rz .

Deploying a DAPP’s frontend using IPFS and Pinata SDK

How to Create a Decentralized Marketplace for Agricultural Products on the Rootstock (RSK)

كيفية إنشاء سوق لامركزي للمنتجات الزراعية على شبكة RSK التجريبية

So erstellen Sie einen dezentralen Marktplatz für Agrarprodukte im RSK-Testnetz

Cómo crear un mercado descentralizado para productos agrícolas en la red de pruebas RSK

Nola sortu Nekazaritza Produktuen Merkatu Deszentralizatua RSK Testnet-en

Comment créer un marché décentralisé pour les produits agricoles sur le réseau de test RSK

RSK テストネット上で農産物の分散型マーケットプレイスを構築する方法

RSK 테스트넷에서 농산물을 위한 분산형 시장을 만드는 방법

Kaip sukurti decentralizuotą žemės ūkio produktų rinką RSK Testnet tinkle

Cum să creați o piață descentralizată pentru produse agricole pe RSK Testnet

Как создать децентрализованную торговую площадку для сельскохозяйственной продукции в тестовой сети RSK

Sida loo Abuuro Goob Suuq ah oo Baahsan oo loogu talagalay Alaabooyinka Beeraha ee RSK Testnet

ከመይ ጌርና ኣብ RSK Testnet ንፍርያት ሕርሻ ዘይተማእከለ ዕዳጋ ንፈጥር

I fell down a rabbit hole last week, and it led to unexpected results. Now would like to take you through that whole fall with me, so you too can learn everything I did as a result. The Original Trigger It all started when KnownOrigin announced it was going to shut down soon. I had minted 2 NFTs there, so I was trying to understand what would happen once the platform was gone. So, KO is shutting down….What does it actually mean for KO artists and collectors though… The art is on the blockchain and is gonna exist forever, whether or not KnownOrigin is still around, right? In the past week, while we were building something, Rick walked me through what was actually happening behind the scenes. So, let me try to explain it to you now. Behind the Curtains When you mint your art on KO, its smart contract creates a token (KODA) on the blockchain and sends it to your wallet. That is the ONLY thing that is on the chain. Everything else beyond this point is not… So, for example, if you wanna check my KO unsold art KODA token on Etherscan, this is all you see. Looking at it makes my soul cry for help. Where is the art name? The artist’s name? The image FFS… They are in your art files, which are stored on IPFS. And the Koda token links to it. Basically, it points to where you can see what it represents. Ok… So now, we need to figure out where it points to, and we’ll see what it is… Probably just a link to click and go and check those out yeah?... Nope At this point - honestly, I didn’t even wanna know… In short, it’s not straightforward - and to a non-techie brain, it makes no sense at all… But once we could get there what would those art files be? Your Art (image, video, gif, music - whatever it is that you created and “minted”)
Metadata File (title, your name, description, etc.)
Cover Image/gif (if applicable) IPFS??? Now, we need to understand what IPFS is and how it works. Basically, it’s a distributed file storage, and it’s kind of cool (old enough to remember Napster?) Guess what? It’s decentralized and distributed across a network of nodes. Fine… so although the art is not on the blockchain, it will still live forever, but on IPFS, right? Hmmmmm kind of. Files to remain accessible must be "pinned" by one or more of these nodes. Pinning is the process of keeping a copy of the file available on the network. So, what happens if a file is not pinned by anyone? If no one pins the file and it is not frequently accessed, it could eventually disappear from the network. For NFTs, if the files associated with the tokens are not pinned, the NFT will lose its associated art and metadata. This could lead to broken links or missing content in wallets and marketplaces. The Future… So imagine - no more pinning, no more art… and the only thing everyone sees is a KODA token with its unique number and a blockchain registry that x number of days ago it was minted. Collectors scratching their heads…. Which Koda token was which art… Artists panicking cause they feel like they lost their “immutable record on the blockchain”… Damn! Good news: there are many pinning services and by using them you yourself can pin those files and not worry about when KO goes away or for how much longer they would be pinning those files for you. Announcement!? All this was a long story to give you more context before making a “launch announcement” I guess… And yes I know it feels so counterintuitive to mention it only at the end - and many marketers might not approve… But hey I don’t care… Welcome SoulKeeper! What the hell is SoulKeeper? Well, it’s a tool Rick and I built for all KO artists and collectors. For it, you don’t have to know any of the tech stuff - all you have to know is your KO wallet address (you don’t even have to connect it to the tool), and it’s very easy to use. What it basically does is it finds all KnownOrigin art files that your KODA token links to and either you can download those and go and use any pinning service you prefer - or SoulKeeper will help you pin them through Pinata (the one we’re using for my Knownorigin NFTs at the moment). All that wouldn’t take you more than 10-15 minutes. SoulKeeper is free to use. We genuinely wanted to help artists and collectors to make sure their art stays alive! Try it out, and let us know what you think. If you know artists and collectors who might need it - please feel free to share it with them too. I fell down a rabbit hole last week, and it led to unexpected results. Now would like to take you through that whole fall with me, so you too can learn everything I did as a result. The Original Trigger It all started when KnownOrigin announced it was going to shut down soon. KnownOrigin announced it was going to shut down soon . KnownOrigin KnownOrigin shut down soon I had minted 2 NFTs there, so I was trying to understand what would happen once the platform was gone. So, KO is shutting down….What does it actually mean for KO artists and collectors though… The art is on the blockchain and is gonna exist forever, whether or not KnownOrigin is still around, right? In the past week, while we were building something, Rick walked me through what was actually happening behind the scenes. So, let me try to explain it to you now. Rick Behind the Curtains When you mint your art on KO, its smart contract creates a token (KODA) on the blockchain and sends it to your wallet. That is the ONLY thing that is on the chain. Everything else beyond this point is not… So, for example, if you wanna check my KO unsold art KODA token on Etherscan, this is all you see. Looking at it makes my soul cry for help. Where is the art name? The artist’s name? The image FFS… They are in your art files, which are stored on IPFS. And the Koda token links to it. Basically, it points to where you can see what it represents. Ok… So now, we need to figure out where it points to, and we’ll see what it is… Probably just a link to click and go and check those out yeah?... Nope At this point - honestly, I didn’t even wanna know… In short, it’s not straightforward - and to a non-techie brain, it makes no sense at all… But once we could get there what would those art files be? Your Art (image, video, gif, music - whatever it is that you created and “minted”) Metadata File (title, your name, description, etc.) Cover Image/gif (if applicable) Your Art (image, video, gif, music - whatever it is that you created and “minted”) Metadata File (title, your name, description, etc.) Cover Image/gif (if applicable) IPFS??? Now, we need to understand what IPFS is and how it works. Basically, it’s a distributed file storage, and it’s kind of cool (old enough to remember Napster?) Guess what? It’s decentralized and distributed across a network of nodes. Fine… so although the art is not on the blockchain, it will still live forever, but on IPFS, right? Hmmmmm kind of. Files to remain accessible must be "pinned" by one or more of these nodes. Pinning is the process of keeping a copy of the file available on the network. So, what happens if a file is not pinned by anyone? If no one pins the file and it is not frequently accessed, it could eventually disappear from the network. For NFTs, if the files associated with the tokens are not pinned, the NFT will lose its associated art and metadata. This could lead to broken links or missing content in wallets and marketplaces. The Future… So imagine - no more pinning, no more art… and the only thing everyone sees is a KODA token with its unique number and a blockchain registry that x number of days ago it was minted. Collectors scratching their heads…. Which Koda token was which art… Artists panicking cause they feel like they lost their “immutable record on the blockchain”… Damn! Good news: there are many pinning services and by using them you yourself can pin those files and not worry about when KO goes away or for how much longer they would be pinning those files for you. Announcement!? All this was a long story to give you more context before making a “launch announcement” I guess… And yes I know it feels so counterintuitive to mention it only at the end - and many marketers might not approve… But hey I don’t care… Welcome SoulKeeper! What the hell is SoulKeeper ? SoulKeeper Well, it’s a tool Rick and I built for all KO artists and collectors. For it, you don’t have to know any of the tech stuff - all you have to know is your KO wallet address (you don’t even have to connect it to the tool), and it’s very easy to use. What it basically does is it finds all KnownOrigin art files that your KODA token links to and either you can download those and go and use any pinning service you prefer - or SoulKeeper will help you pin them through Pinata (the one we’re using for my Knownorigin NFTs at the moment). All that wouldn’t take you more than 10-15 minutes. SoulKeeper is free to use. We genuinely wanted to help artists and collectors to make sure their art stays alive! Try it out, and let us know what you think. If you know artists and collectors who might need it - please feel free to share it with them too.

KnownOrigin Will Disappear Soon - Now What?

This Is How You Can Develop a Decentralized Email System on the Blockchain

A Practical Guide to Develop and Deploy Your NFTs on Rootstock

At some point, too many people will have lost too much Bitcoin that they will meet to talk about it. Later, they will opt to do something about it. There can only be a (decreasing number) of bitcoins Lost cryptocurrency is a unique beast, quite different from lost information for 2 reasons: 1. We can continue maintaining its value. Right? Is it really still valuable? 2. Other people know it is lost. They simply check the blockchain. Whereas with lost information, nobody else can tell except those who have lost that intel. Take Bitcoin as an example. We still say 'There can only be 21 million'. But if this includes even lost bitcoins, then we are counting our losses as assets! That is very strange. Imagine if you were an accountant for a major company. The company deals in all sorts of assets, but sometimes writes some physical assets off as lost either due to theft, fire outbreak, or irreparable damage. But to your shock, the manager insists that not only do you keep counting those assets, but also, count them as fully functional assets whose value is going up every year. "But they are damaged", you might say. "Yeah, but they are still our assets" "What, how?" "There is hope we can recover them exactly as they were before they were lost. And then some". It’s hard to fathom. It indeed feels like Alice in Wonderland, where cards talk, a piece of cake can make one bigger, or smaller, and a cat can disappear leaving only its grin behind. Bitcoin and most crypto are the same. The question is thus; Is real value riding on all coins? Even when some are lost? Certainly, supply and demand economics might make all the coins feel equally valuable hence we would say that if Bitcoin is at $70,000 then the market cap is $1.47 trillion. But taking the figures as per this reddit post on lost bitcoins, if 6 million are lost then only 15 million coins are existing which are backed by a market cap of $1.05 trillion. Less by $420 billion. This does deflate our dreams and begs the question --> are we kidding ourselves? The road to Zero bitcoins By some estimates, 4% of 21,000,000 bitcoins continue to be lost every year. How many shall be lost, going forward? Let's assume this 4% holds true. 4% × 21,000,000 = 840,000 bitcoins. This is very steep. Well then, in 15 years, we shall lose 840,000 * 15 = 12,600,000 Add 6 million to this batch and circa 2039, 'There can only be 2,400,000 bitcoins' When will they be finished? Now, a little hope is in order. The 4% cannot hold steady forever, so it would be wise to say it too will be a declining figure as we progress. Because as Bitcoins get more valuable, people will be more careful with their keys. It is inevitable. Taking it at face value though, we shall run out of bitcoins to trade within the next 18 years. So Circa 2042. I hope the naysayers will be back to tell us they told us so, or to plead guilty of doomism and explain why there are still many millions of Bitcoins being traded daily. However, it certainly looks like way before the year 2137 when the last satoshi will be mined, we shall hit a big wall as per the coins lost vs the coins in the available supply. When enough is enough, for lost Bitcoins Assume at the time this shocking reality hits the Bitcoin community, we have only 4 million coins tradable around the world. Assume even Michael Saylor shall have lost some of his keys/coins. What then? Well, the price of a single coin, feeling so much demand, will spike to about $10 million, and then it will dawn on everybody. Bitcoin has a $40 trillion market capitalization and not a $210 trillion market capitalization. Right now, this is an elephant 🐘 in the Bitcoin room, but it is still a baby and we are all happy to pet it and feed it with careless abandon. Soon, however, it will become a giant. A big fat frustration. At $10 trillion per coin, the fees to move even a few sats will likely be thousands of dollars because; a) the Bitcoin reward is smaller. b) miners have also lost their coins. c) losing coins to hackers will be most likely (hackers will be sniffing all over every wallet, waiting for the SSL to get some slight holes) Everybody will be losing coins. It will be wild. But before I proceed? Why do people lose keys hence coins? Well, if you are using the key every time, sometimes changing it this way and that way to maintain your security (because AI powered cameras may be watching), it so happens that you are bound to make a mistake and lose the key. Or else, be hacked (since you cannot fathom changing the key all the time). Like smart people must have said, meat brains are not good at holding random numbers or random sequences of words. Luke Dash Jnr, a seasoned cypherpunk, was hacked last year. He lost 200 bitcoins. Elon Musk may have lost his Bitcon keys back in '20. So, shit happens. To hard fork those lost coins back, or not. That is the question So here's the thing. We wake up and Bitcoin is seizing up. Crashing into its mass and threatening to take our financial dreams with it when it turns into a black hole of lost keys / burned coins. We also wake up and realize that the debt spiral is still sucking us down with it, even as we hodl Bitcoin. Climate is now a real issue and oh, AI is giving us headaches. Too many addictive cat videos. Too many coins are lost, the blocks are always full so confirmations take decades, the core software is too large, the fees are too high. So we sit down, like AA group members, and decide that continuing to preach financial freedom yet the currency is fast tending towards technological obsolescence, is like being high on alcohol and thinking that one is blissful for other reasons. We need to quit the 'lost coins are good for all' alcohol. In short, it will be time for a hard fork. The Hard Fork --> Bitcoin ver. 2.0 Innovation comes full circle. After factoring in the reality of available supply and not merely supply, we could let Satoshi Nakamoto's 2 million or so coins be our target practice and our saving grace. One shot and bull’s eye. Trillions of dollars pour down from the Bitcoin piñata. Like manna from the heavens. Right? Alas, There shall only be 4 million bitcoins and the value of lost coins, if "re-supplied" to the blockchain, will quickly deflate the value of the 4 million coins existing. Overall, lost coins would have helped the remaining coins get valuable to that point. Say $10 million per BTC. If you un-lose them by the most brute force of them all -- a hard fork -- you shock the demand economics and viola, have worth-less bitcoins than you started with. Now whoever is holding their previously un-lost bitcoins cannot be happy about that. It begs the question, what would they do? Refuse the hard fork outright. Obviously. Indeed, even if the value of the bitcoins would overall increase the market cap of the available supply, we can be damn sure it would reduce the value of each individual coin. Supply and Demand. Economics 101. The Big Question: Is this a financial revolution for the better, or for the worse? For example, let's say we had 4 million coins left. We then redeem the coins in the wallets of those proven deceased without any heir. Say Satoshi Finney is that first choice. At $10 million per coin, 4 million coins give up a market cap of 40 trillion USD. Add 2 million coins to the available supply but have the price shocked from 10 million to only 7 million. Total availability supply = 6 million. 6 million x 7 million USD = 42 trillion dollars. It is a good financial explosion. But to whom? Who gets the money?? Who makes the ultimate sacrifice of accepting to end up with less money than before? If rational and educated human beings cannot agree on simple (obvious) things like "Are fossil fuels necessary for economic progress or not?", how can they agree on how to share this pie? It is a financial explosion, except the majority will not want it. Satoshi may have solved the Byzantine General's problem. Somebody needs to solve the "Goodness of the community over the Goodness of the individual" problem. Of course, with my limited brains, I know most people are wary of a Marxist dystopia sliding in during this very crucial process. E.g. The coins could instead be coded to go to a handful of powerful individuals, whereas before it seemed like they would go to people who deserved a financial turnaround. Especially in the wake of what we see today with government debt ballooning, government operatives hoping to snatch some of this reclaimed BTC so as to help the government pay its gigantic debt is not an impossibility. Talk about being stuck between a rock and a hard place. Not the best kind of sandwich. At some point, too many people will have lost too much Bitcoin that they will meet to talk about it. Bitcoin Later, they will opt to do something about it. There can only be a (decreasing number) of bitcoins L ost cryptocurrency is a unique beast, quite different from lost information for 2 reasons: ost cryptocurrency is a unique beast, quite different from lost information for 2 reasons: 1. We can continue maintaining its value. Right? Is it really still valuable? Is it really still valuable? really 2. Other people know it is lost. They simply check the blockchain. Whereas with lost information, nobody else can tell except those who have lost that intel. Take Bitcoin as an example. We still say 'There can only be 21 million'. But if this includes even lost bitcoins, then we are counting our losses as assets! That is very strange. Imagine if you were an accountant for a major company. The company deals in all sorts of assets, but sometimes writes some physical assets off as lost either due to theft, fire outbreak, or irreparable damage. But to your shock, the manager insists that not only do you keep counting those assets, but also, count them as fully functional assets whose value is going up every year. " But they are damaged ", you might say. But they are damaged " Yeah, but they are still our assets " Yeah, but they are still our assets " What, how? " What, how? " There is hope we can recover them exactly as they were before they were lost. There is hope we can recover them exactly as they were before they were lost. And then some ". And then some It’s hard to fathom. It indeed feels like Alice in Wonderland, where cards talk, a piece of cake can make one bigger, or smaller, and a cat can disappear leaving only its grin behind. Bitcoin and most crypto are the same. The question is thus; Is real value riding on all coins? Even when some are lost? Certainly, supply and demand economics might make all the coins feel equally valuable hence we would say that if Bitcoin is at $70,000 then the market cap is $1.47 trillion. But taking the figures as per this reddit post on lost bitcoins , if 6 million are lost then only 15 million coins are existing which are backed by a market cap of $1.05 trillion. reddit post on lost bitcoins Less by $420 billion. This does deflate our dreams and begs the question --> are we kidding ourselves? The road to Zero bitcoins By some estimates , 4% of 21,000,000 bitcoins continue to be lost every year. some estimates How many shall be lost, going forward? Let's assume this 4% holds true. 4% × 21,000,000 = 840,000 bitcoins. This is very steep. Well then, in 15 years, we shall lose 840,000 * 15 = 12,600,000 Add 6 million to this batch and circa 2039, 'There can only be 2,400,000 bitcoins' When will they be finished? Now, a little hope is in order. The 4% cannot hold steady forever, so it would be wise to say it too will be a declining figure as we progress. Because as Bitcoins get more valuable, people will be more careful with their keys. It is inevitable. Taking it at face value though, we shall run out of bitcoins to trade within the next 18 years. So Circa 2042. I hope the naysayers will be back to tell us they told us so, or to plead guilty of doomism and explain why there are still many millions of Bitcoins being traded daily. However, it certainly looks like way before the year 2137 when the last satoshi will be mined, we shall hit a big wall as per the coins lost vs the coins in the available supply. When enough is enough, for lost Bitcoins Assume at the time this shocking reality hits the Bitcoin community, we have only 4 million coins tradable around the world. Assume even Michael Saylor shall have lost some of his keys/coins. What then? Well, the price of a single coin, feeling so much demand, will spike to about $10 million, and then it will dawn on everybody. Bitcoin has a $40 trillion market capitalization and not a $210 trillion market capitalization. Right now, this is an elephant 🐘 in the Bitcoin room, but it is still a baby and we are all happy to pet it and feed it with careless abandon. Soon, however, it will become a giant. A big fat frustration. At $10 trillion per coin, the fees to move even a few sats will likely be thousands of dollars because; a) the Bitcoin reward is smaller. b) miners have also lost their coins. c) losing coins to hackers will be most likely (hackers will be sniffing all over every wallet, waiting for the SSL to get some slight holes) Everybody will be losing coins. It will be wild. But before I proceed? Why do people lose keys hence coins? Well, if you are using the key every time, sometimes changing it this way and that way to maintain your security (because AI powered cameras may be watching), it so happens that you are bound to make a mistake and lose the key. Or else, be hacked (since you cannot fathom changing the key all the time). Like smart people must have said, meat brains are not good at holding random numbers or random sequences of words. Luke Dash Jnr, a seasoned cypherpunk, was hacked last year. He lost 200 bitcoins. Elon Musk may have lost his Bitcon keys back in '20. So, shit happens. To hard fork those lost coins back, or not. That is the question So here's the thing. We wake up and Bitcoin is seizing up. Crashing into its mass and threatening to take our financial dreams with it when it turns into a black hole of lost keys / burned coins. We also wake up and realize that the debt spiral is still sucking us down with it, even as we hodl Bitcoin. Climate is now a real issue and oh, AI is giving us headaches. Too many addictive cat videos. Too many coins are lost, the blocks are always full so confirmations take decades, the core software is too large, the fees are too high. So we sit down, like AA group members, and decide that continuing to preach financial freedom yet the currency is fast tending towards technological obsolescence, is like being high on alcohol and thinking that one is blissful for other reasons. We need to quit the 'lost coins are good for all' alcohol. In short, it will be time for a hard fork. The Hard Fork --> Bitcoin ver. 2.0 Innovation comes full circle. Innovation comes full circle. After factoring in the reality of available supply and not merely supply, we could let Satoshi Nakamoto's 2 million or so coins be our target practice and our saving grace. One shot and bull’s eye. Trillions of dollars pour down from the Bitcoin piñata. Like manna from the heavens. Right? Alas, There shall only be 4 million bitcoins and the value of lost coins, if "re-supplied" to the blockchain, will quickly deflate the value of the 4 million coins existing. Overall, lost coins would have helped the remaining coins get valuable to that point. Say $10 million per BTC. If you un-lose them by the most brute force of them all -- a hard fork -- you shock the demand economics and viola, have worth-less bitcoins than you started with. Now whoever is holding their previously un-lost bitcoins cannot be happy about that. It begs the question, what would they do? Refuse the hard fork outright. Obviously. Indeed, even if the value of the bitcoins would overall increase the market cap of the available supply, we can be damn sure it would reduce the value of each individual coin. Supply and Demand. Economics 101. The Big Question: Is this a financial revolution for the better, or for the worse? For example, let's say we had 4 million coins left. We then redeem the coins in the wallets of those proven deceased without any heir. Say Satoshi Finney is that first choice. At $10 million per coin, 4 million coins give up a market cap of 40 trillion USD. Add 2 million coins to the available supply but have the price shocked from 10 million to only 7 million. Total availability supply = 6 million. 6 million x 7 million USD = 42 trillion dollars. It is a good financial explosion. But to whom? Who gets the money?? Who makes the ultimate sacrifice of accepting to end up with less money than before? If rational and educated human beings cannot agree on simple (obvious) things like "Are fossil fuels necessary for economic progress or not?" , how can they agree on how to share this pie? "Are fossil fuels necessary for economic progress or not?" It is a financial explosion, except the majority will not want it. Satoshi may have solved the Byzantine General's problem. Somebody needs to solve the "Goodness of the community over the Goodness of the individual" problem. Of course, with my limited brains, I know most people are wary of a Marxist dystopia sliding in during this very crucial process. E.g. The coins could instead be coded to go to a handful of powerful individuals, whereas before it seemed like they would go to people who deserved a financial turnaround. Especially in the wake of what we see today with government debt ballooning, government operatives hoping to snatch some of this reclaimed BTC so as to help the government pay its gigantic debt is not an impossibility. Talk about being stuck between a rock and a hard place. Not the best kind of sandwich.

Is Lost Cryptocurrency Still Valuable, and Can We Reclaim It? 

*Note: a SWOT analysis is an evaluation of the fundamental, operational, technical, social, economic, and even to some degree, administrative elements of a project. This is not a model to be used for trading purposes. (NFA, DYOR) Composed of four elements, and , a SWOT analysis framework provides excellent insight for establishing a high-level understanding of the state of a project’s well-being through the lens of a birds-eye view. Strengths, Weaknesses, Opportunities, Threats It can help formulate decisions around which areas require more attention, set performance goals, and organize a foundational understanding of where a project is headed. Rarely (if ever) used in crypto, it is time to apply this timeless method of evaluation to the digital asset space. Today, ( ) the industry’s leading solution for decentralized storage and hypermedia, will get a SWOT. Filecoin FIL , 💪 Strengths (Internal) (Helpful) 1. Underpinned by IPFS The Interplanetary File System is a distributed file storage and sharing protocol that existed many years before the Filecoin token was even launched. Already equipped with a sizeable user base and node network, Filecoin is building on top of a proven model that has already built for itself a powerful reputation. Even without the FIL token’s presence, some of the industries leading projects have turned to IPFS as a measure of increasing systematic resilience and decentralization; among these are the likes of Brave Browser, DeCrypt Media, Augur, Kyber, Infura, Metamask, MyEtherWallet, Pinata, StakeFish, Uniswap, and this is just the crypto natives. World-famous projects like Cloudflare and even Wikipedia use IPFS to some degree. 2. Extensive Node Network The technological infrastructure of the Filecoin network is deserving of credit. There are over 4,000 nodes allocating their hardware devices to the network and providing storage to over 1,700 clients. Considering the non-trivial technical knowledge required to operate a full node and the difficult state of the market, this degree of participation is impressive, at the very least. 3. Storing extremely Valuable Data The types of data making their way on-chain is becoming increasingly valuable. Leading institutions from around the world are uploading their research, digital records of human history, individual social media references, and even genomic sequences! Of course, beyond the information that serves a purpose for humanity, where else but at a solution such as Filecoin would projects from the degen NFT collections and DAOs go to? Filecoin provides NFT.storage and Web3.storage, which act as interfaces that abstract away complexity and allow for on-chain adjudications (such as swapping out some meta-data) to take place. 4. Notable Clientele Filecoin has quite a reputation; some of the world’s most notable entities from the real world (outside of blockchain/crypto), including New York City, UC Berkley, USC Shoah Foundation, and others of a similar caliber have turned to Filecoin as their storage solution. As it pertains to the native Web3 companies, giga-platforms such as OpenSea, and innovative projects like Ocean Protocol, Brhave tapped into Filecoin’s robust storage solution. This element has a flywheel effect, whereby the more notable users there are, the more likely it becomes for more new users to trust using the platform. 5. Increased rate of data coming on-chain When gauging the value that the Filecoin Network provides, one of the key indicators is the amount of data that is actually being stored on the network. Currently, there is approximately 4.5–5 PiBs (pebibytes) of new data that is coming into Filecoin every day. If we measure this in proportion to the rate that was effective ~365 days ago, it is an increase of right around 5x. 6. Active Deals are up >11x Year on Year. Comparing the current level of active deals floating around >950 against the level of deals floating this time last year (2022) was just 87, which is an increase of 11x. An increase in the number of deals taking place is a direct signal of demand for the service being provided and confirmation of a product market fit. While this definitely classifies as a strength, this permutation is not natural; it is skewed by an emission program that offsets node operator costs to join the network and provide their services. In aggregate, more than have been facilitated through the Filecoin Network. 41,000,000 data storage deals 7. State of Network Upgrades and Developments Filecoins notoriety has begun to spill into developments of adjacent supplementary technologies, including the FVM (Filecoin Virtual Machine) and the CDN (Content Delivery Network) called Project Saturn. With the introduction of the FVM, Filecoin became capable of supporting smart contracts, which will introduce a new vector of value creation {such as providing credit for service in an unsecured manner or for operations} and increasing the FIL token’s velocity. Project Saturn comes with a wide range of technical upgrades that increase the quality of the services by increasing the retrieval speeds. Another critical upgrade taking place at the infrastructure level is the DSA optimization, an open-source software upgrade that will ease the onboarding processes and lowers costs by another staggering 40%. uncollateralized loans 😞 Weaknesses (Internal) (Harmful) 1. FIL+ Program Fueling Aggressive Emission The current level of FIL token rewards is enormously outweighing the revenue generated through real demand, which might be contributing to an influx of storage that might not have taken place without these incentives being present for network nodes. Ultimately artificially fueling incentives runs a tail risk of an unwind in the event that demand does not catch up to the storage activity. Additionally, the aggressive distributions will exert excess selling pressure on the token whenever markets start to run. 2. Weak FIL tokenomics This could be a personal bias, but I am not a fan of token models with perpetual inflation. Having no cap results in holder dilution and a drag on valuations. Coupled with the severe emissions of rewards taking place at the early stages, this creates a disincentive for individuals. The attempt to introduce new, different vectors of token applications (via FVM) feels like an indirect acknowledgment by the team that without more use cases, the token cannot attain the value its original vision might have been intended to. 🧐 Opportunities (External) (Helpful) 1. Demand for On-chain storage Regardless of current market conditions, demand for censorship resistance and on-chain storage will inevitably grow. New projects have been coming to market in the Decentralized storage space and have been finding demand almost immediately. As time goes on and users distill into the most prominent/secure/reliable systems, Filecoin’s brand has the potential to capture a large portion (if not the majority) of the market. 2. More Cost Friendly than Web2 Provider Legacy systems (Web2 storage) have shown a lack in their economies of scale, where the costs continually outpace the demand, which might push their audiences to find alternative solutions in Web3. As a rough estimate, using Filecoin’s network for will cost 5x less than using AWS and >6x less than using Google Cloud. ** The costs will be dropping dramatically with the implementation of the by roughly 40%. 100 PiBs of storage DSA Optimizations 😳 Threats (External) (Harmful) 1. Highly Competitive Category The decentralized storage space is among the few sectors of the digital economy with a massive direct value proposition, turning out to be extremely attractive to competitors. Considering that data storage is no simple feat, the level of technical aptitude in order to get involved is at a rather high threshold, making the caliber of competition extremely high. While it might be easier to fend off the clueless, the competition at the highest ranks is brutal. 2. Not the most Innovative or Affordable In tune with the competitiveness of this category, other industry players (who shall go unnamed for the sake of preserving this article on Filecoin) are showing better performance capabilities, at better rates, with more balanced token models. Time will tell what the market tends more to, but it is hard to ignore those that provide what you do (potentially better) at lower rates. Takeaway: Filecoin sits at the top of the leaderboard for the Decentralized storage category across nearly every possible metric, from market capitalization to brand recognition to node count and team/foundation credibility. Attention to detail and the depth of domain expertise can be felt just by exploring their website and reading through their documentation (Disclaimer, I read as much as possible, but oh my god, these guys really went hard on drilling in to address everything!) The convergence of tech to an EVM-compatible version of itself is interesting to see and will certainly be something that reflects itself economically on the project. This is a protocol and product that is suited for building businesses. Conclusion: Throughout this bear market, Filecoin has been relatively controlled in terms of its social presence. Certainly, they have been active; However, the kind of communication they have been doing has been very subtle (when compared to many other projects). Their focus on recruiting builders, boosting their infrastructure by courting providers, and developing a tightly knit but well-informed core community has a refreshing, genuine feel to it that I like. While I have never used the network (to my knowledge, maybe indirectly through another dapp) and do not have a need for such services on a personal level, the application is definitely of immense value to an enterprise. I have tremendous respect for the project and its roots; however, as an individual that is looking to understand how this project can provide maximal benefit to me, I must admit it is very low. The tokenomics are always an important factor to me. While the model used by FIL is very understandable from the side of their operations, it is definitely not ideal for an investor (of my type). I will not be interested in acquiring any FIL until the 6-year vesting schedules of over 400,000,000 tokens (Team and Protocol Lab’s allocations) approach their full unlocks. *, I would like to append just to acknowledge something. There are so many absurd incentives taking place right now, such as unlimited free storage through Estuary, obscene incentives via FIL+, and incubations of projects that, I believe, are pointless (at best), that there is a slight cognitive dissonance arising after doing enough digging.* ** Final note If you know something that I don’t or feel as though I might have missed anything worth noting, please do share. I would tremendously appreciate some feedback. Thank you so much for reading, I hope this serves you well on your journey. Live long and prosper 🥂 Also published . here

The Filecoin (FIL) SWOT Analysis

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Lead image: A crypto skill tree prototype via The Graph Dear HackerNoon Nation, In some of my past posts, I’ve riffed on the idea of the “NFT skill tree.” It’s all the skill sets you can learn from advancing through all the main categories of NFT activity right now. I thought it’d be neat to map the branches of what a contemporary NFT skill tree could look like, so for today’s post I’ve come up with 21 main areas of interest as developed from Alex Gedevani’s excellent . NFT Verticals spreadsheet Can you max out your skill tree? You hardly have to — even just gaining competency in these branches will position you well as NFTs become more important in the years ahead. half All that said, let’s walk through what these 21 main skill branches are and some of the main projects you can explore in each of them! -WMP 1. Analytics provide easy-to-use interfaces for discovering actionable NFT insights, like mispriced listings, and for understanding NFT activity flows, like trade volume metrics. NFT analytics resources Examples of skills to learn: Comparing 24 Hour, 7 Day, and 30 Day floor price stats for major collections on Flips Setting up custom mint alerts for your browser on icy.tools Reading the Lucky Listings UI to find mispriced NFTs on Lucky Trader Reviewing a specific wallet’s history using the NFT Wallet Profiler on Nansen Studying what specific NFT communities are collecting at any given time on Watchtower 2. Art https://twitter.com/reneil1337/status/1591030719148888069?s=20&t=Z1OAWrD0nmgDfv2va5rBDw?embedable=true now make up a major part of the NFT ecosystem. These projects provide infrastructure that make it easier for artists to mint and share their works with a growing global community of digital collectors. Artist-focused platforms Examples of skills to learn: Collecting digital art you enjoy on art platforms like , , and Art Blocks Foundation SuperRare Generating art for large collections via (Blueprints) or Async Art Bueno Minting your own 1/1 or editioned artworks with or Manifold Zora 3. Borrowing / Lending let borrowers get fixed-period loans against their NFTs while letting lenders earn yield or liquidated NFTs. At the crossroads of DeFi and NFTs, these sorts of projects have seen an explosion of interest in recent times. NFT borrowing and lending protocols Examples of skills to learn: Collateralizing an NFT to field loan offers on NFTfi Depositing ETH into the reserve pool to earn yield on BendDAO Making a lending offer on or Arcade Sodium 4. Community Resources are projects that help streamline activities like community discovery and community management. Community resources Examples of skills to learn: Automating membership management for your NFT community with Guild Customizing a community treasury on Juicebox Discovering the actions, like votes or mints, your wallet can do via Daylight Setting up a token-gated forum for your NFT community with Collective Preparing an allowlist on Premint 5. Content Collectives are decentralized groups that coordinate creatively to propagate a brand, story, or narrative universe. For instance, Nouns DAO members vote on how the project’s treasury should be used to support “Nounish” brand efforts. Content collectives Examples of skills to learn: Submitting a proposal to create Nounish content for Nouns DAO via Prop House 6. Curation help artists, collectors, curators, and casual users alike organize NFTs into galleries for events, scholarship efforts, and beyond. In elevating NFTs beyond merely financial concerns, curation generates cultural value for NFTs. Curation platforms and protocols Examples of skills to learn: Curating an exhibition of your favorite NFTs via , , or (Disclosure: I contribute to JPG!) Deca Gallery JPG 7. Gaming in the NFT ecosystem use NFTs to facilitate asset ownership and in-game economies. While the main goal of any game is to be fun, many NFT games offer novel play-to-earn possibilities, too. Gaming projects Examples of skills to learn: Battling Axies in Axie Infinity Managing and competing with sports lineups in Sorare 8. Discovery make it easy for users to quickly discover notable NFT happenings or information. Getting a feel for these tools will help you better navigate the on-chain landscape. Discovery projects Examples of skills to learn: Creating a domain name for your wallet with ENS Finding trending mints with mint.fun Making web3-friendly search queries with Drifty Tracking trending sales on Context 9. Display https://twitter.com/guywalkin/status/1588629297157509120?s=20&t=EYLT1PCmscsOJpp9pdEjVQ?embedable=true help NFT owners and exhibitors showcase NFTs in physical settings. Display projects Examples of skills to learn: Printing your NFT into physical form with or Infinite Objects Tokenframe 10. Liquidity help NFT traders access decentralized liquid markets around otherwise illiquid NFTs. Liquidity protocols Examples of skills to learn: Creating a new liquidity pool on sudoswap Swapping like-kind NFTs on NFTX 11. Marketplaces are online stores where people can buy and sell NFTs. Marketplaces can be standalone operations, like Nifty Gateway, or aggregator platforms that make it possible to trade across multiple NFT marketplaces at once, like Gem. Marketplaces Examples of skills to learn: Bidding on NFTs with WETH on large marketplaces like or OpenSea Nifty Gateway Sweeping multiple NFTs at once across multiple platforms using aggregators like , , , , or Blur Gem Genie LooksRare Rarible 12. Metadata storage provide streamlined UIs for creators and to maintain their NFT metadata on decentralized storage solutions like Arweave, IPFS, or Filecoin. Since the metadata of many NFT projects are maintained off-chain, the importance of long-term metadata security cannot be understated. Metadata storage platforms Examples of skills to learn: Uploading the metadata of your NFT collection through services like or NFT Storage Pinata 13. Metaverse in the NFT ecosystem use NFTs to facilitate the ownership of virtual land and in-world assets, thus bringing digital experiences to life. Metaverse projects Examples of skills to learn: Browsing digital art in and oncyber galleries MOCA ROOMs Creating your own virtual environments with Webaverse Exploring Origin City in Voxels Playing poker in Decentraland 14. Multiplayer Crypto https://twitter.com/prtyDAO/status/1587860052236537856?s=20&t=x7h2QXBUugnWQYnyOkNzGg?embedable=true make it easy for groups of friends and/or strangers to collectively own and use NFTs together. Multiplayer crypto projects Examples of skills to learn: Starting an NFT collector party on PartyBid 15. Music help musicians connect with their fans in new ways via 1/1 or editioned collectible music releases. This scene is beginning to seriously bloom, which bodes well for the future of independent music! Music NFT platforms Examples of skills to learn: Creating your own song using the digital audio workstation (DAW) system on Arpeggi Developing custom playlists with Spinamp Collecting collectible songs on or Catalog Sound 16. NFTfi , a sector situated at the crossroads of NFTs and DeFi, facilitates complex NFT-based financial services in decentralized fashion, like on-chain NFT derivatives. NFTfi Examples of skills to learn: Creating an NFT call option on Hook Depositing WETH to the capital vault on MetaStreet Generating an on-chain credit score via Spectral 17. Portfolio Management help NFT collectors create one-stop hubs for tracking their holdings, increasingly across multiple chains like Ethereum, Arbitrum, and Optimism. Portfolio management projects Examples of skills to learn: Setting up your address books on platforms like , , or DeBank Zapper Zerion 18. Pricing https://twitter.com/deepnftvaluebot/status/1592644114172055552?s=20&t=8mLKjw4htKo9jAiQifsaoP-KlBAd62dqGKE3ZS55gSo?embedable=true are centered around helping NFT collectors and traders appraise their holdings. The pricing scene is very early but some promising efforts have started coming to fruition. Pricing projects Examples of skills to learn: Reviewing NFT valuations through or DeepNFTValue Upshot 19. Protection help NFT creators or owners ensure the safety of their NFTs for the long term. Protection projects Examples of skills to learn: Backing up the metadata of your off-chain NFTs with ClubNFT Testing the quality of your NFT drop beforehand using StealthTest on nameless 20. Rentals help people rent out, or pay to rent, NFTs. Rental platforms Examples of skills to learn: Renting a digital collectible on reNFT 21. Wallets https://twitter.com/gnosisSafe/status/1552230422494343170?s=20&t=O3v6KnhYwfebvhCUaItkyA?embedable=true allow people to streamline the process of self-custodying their NFTs. Wallets can come in various forms, like mobile apps or multi-signature vaults. Wallet projects Examples of skills to learn: Creating an NFT vault for long-term security with Safe Setting up a burner wallet for free mints via Rainbow Action steps ⛹ Practice activities in the where you want to level up your abilities branches of the NFT skill tree 🔑 Read my latest Bankless tactic because ! How to take custody of your crypto keys not your keys, not your crypto Author Bio is a professional writer and creator of —a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond! William M. Peaster Metaversal

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