Winding Tree

windingtree

is probably one of the most popular decentralized exchanges for listing projects, trading, and investing in cryptocurrencies, with over in trading volume. Uniswap $20B But a severe bug could cause Uniswap significant issues and is creating problems for those that list there. The history of Uniswap goes back to 2017. In a post on Reddit in 2017, Vitalik Buterin, founder of Ethereum, suggested coding a decentralized exchange through smart contracts. This type of exchange - called an Automated Market Maker - would run exclusively on the blockchain. Hayden Adams, formerly at Siemens, was inspired by this idea and created Uniswap, launched in November 2017. Since then, the decentralized exchange has gone through three iterations, and Uniswap launched its own token in September 2020. But as an exchange that promotes the decentralized self-governing spirit, Uniswap V3 has received mixed reactions. Many claim that it needs to improve its user experience if it is to compete against centralized giants like Binance and CoinBase, and there has been significant criticism towards Uniswap V3 . due to the license under which it will operate But there's more bad news for Adams' creation. A bug in the system is making token listings appear as "UNKNOWN" on the platform. and other projects which have recently listed their tokens on Uniswap have been affected by this recent bug. While selling its LIF token, Winding Tree faced anonymity on Uniswap, making it invisible to traders and investors. Winding Tree "We discovered it in September when we created the pool," Maksim Izmaylov, CEO at Winding Tree, told me. The impact for Winding Tree has been significant. "It created lots of problems for our community members," Izmaylov said. "Every time you want to do something with the token on Uniswap, you have to go through so many hoops. And the solution is simple, and we offered the solution to Uniswap back in September 2020." What's worse is that Uniswap appears not to have made any effort to correct the bug. Although an email for support is listed, there seems to be limited contact with the Uniswap team. The exchange encourages reaching out to its active community on Discord when facing problems on the platform. "We reached out to Uniswap and offered a solution but haven't received any response," Izmaylov said. While faced an incredible backlash over its tardy customer support early on (with 3-4 week delays between support ticket replies), it has invested heavily in that area. It is now providing timely and helpful support for its users. Coinbase Both Coinbase and offer excellent user functions and run under standard KYC framework and regulations. These exchanges are easy and convenient for buyers and sellers, but hardcore crypto developers would prefer to list their tokens on decentralized spaces. Binance If Uniswap is to keep growing and attracting projects, it will need to address these issues. Winding Tree is already looking for an alternate way forward. "We'll move the marketplace to an L2 chain or to a completely new chain where fees are not that crazy and drastically improve the UX of the marketplace (high miner fees is a part of this, actually)," Izmaylov said. "We'll also work on geographically-targeted projects; a big one is in process in Italy, a country that is second in tourism, after France." Note: I reached out to Uniswap for comment but received no response. Should any be received, I'll update the story.

The 'UNKNOWN' Bug On Uniswap Continues to Plague The Platform

Blockchain technology represents the area where business ideas for small and medium-sized startups grow faster than anywhere else. Every year brings thousands of highly promising startup projects to the stage, which hail from various industries, including tourism. A record of venture capital has been invested in tech startups in the first quarter of 2018, with several budding travel-oriented projects on the list. This number has grown to 49% if to compare with equal timing last year, according to CB Insights. 22.1 billion As a huge steadily growing market, the capacity of which will reach dollars by the end of 2020. Tourism attracts more and more ICO projects, and the most remarkable of them are destined to face a wide recognition soon. 12.3 trillion As a technology, blockchain has already found implementation in finance, medicine, banking, and healthcare. For now, its core will be empowering brands involved in tourism to grow their competitive advantages: eliminate intermediaries, reduce fraud, personify experience, and improve the quality of services. 1. Direct marketplace for home rentals The Bee Token is the first decentralized network that enables finding temporary housing rental services directly without commissions or inflated prices. Their is based on Ethereum protocols which connect the property owners and tourists who want to rent housing directly. The Bee Token protocol aims to eliminate the third-party commissions typically standing in between rent giver and housing seeker. Furthermore, if both tourists and apartment owners will have BEE tokens, neither of them will have to pay commissions to Beenest platform for transactions. Beenest platform Since this project is based on a decentralized ledger, all operations will be completely transparent and available to platform users. The platform will also include the data considering participants: addresses/accounts and averaging reputation score including evaluation ratings for hosts and guests. Recently, Beenest has prepared the protocols for automatic resolution of disputes as well as reputation rating management system for users. The first version based on Ethereum was launched in January 2018. 2. Tourism without intermediaries is a decentralized network for service distribution inside the spectrum of various tourism services. Built on the basis of Ethereum, the project is aimed to increase the efficiency and convenience of the buyer-seller interaction utilizing smart contracts. Winding Tree Similar to Beenest platform, Winding Tree project aims to eliminate intermediaries, by creating a platform for direct interaction between service providers (hotels, airlines, etc.), and service sellers (travel agencies). Suppliers will be able to post information about their services without commissions, and buyers will be able to make purchases quickly and conveniently. In addition, the participants will be able to track the activities and the effectiveness of their partners inside the ecosystem. In the long run, such levels of transparency should create conditions for perfect competition, while significantly increasing the efficiency and quality of services. Winding Tree is designed as a public initiative project. It does not plan to charge for services, however, it only asks for a small commission to in order to maintain the computing network. 3. Individual experience for every traveler Inside the focus of project are travelers and their personal journey experiences. The creators plan to increase the convenience and simplify travel services delivery. Introducing the global platform where every traveler can receive concierge services tailored to their needs and budget. MeetnGreetMe The fundamental idea behind the project is to create a community that will unite global travelers and locals within a single ecosystem. The trusted relationships between different parties and effective reward system for certain actions will be guaranteed by smart contracts. MeetnGreetMe is already working as a service platform that connects people from more than 200 cities across the world. The theory is that local communities can provide travelers with more diverse and immersive experiences than traditional tours. This way has been proven to be right. In order to elevate the existing project on the brand-new level of quality, and ensure the safety of operations it will be merged with blockchain. The interactions, calculations, and transactions within the ecosystem will be performed using the WelcomeСoin (WEL) utility token, that is supported by the real services delivered on MeetnGreetMe. 4. Universal traveler’s currency plans to offer users a comprehensive solution that increases convenience of travelling and reduces the costs associated with transactions during journeys. The service, however, will be available for any payments, not only travel-related. Travelflex Travelflex application is a social application with an extensive built-in functionality that helps solve typical traveler’s problems. It enables transactions with lower commissions, ensures safe storage of funds, and convenient communication via social networks. The traveler’s currency will be based on DAG algorithm, which according to the creators, will process up to 1400 transactions per second, which is much faster than, for instance, PayPal (193 transactions) or Bitcoin and Ether — (2 and 20 transactions per second) transactions. Currently, Travelflex connects new partners among banks, hotels, and airlines. This is the main priority for the next two years of project development. The reputable names on the list of collaborators, however, can be already found on their website, which features Agoda, Booking.com, British AirWays, Emirates, Hilton, and other renown service providers. 5. Trust between service providers Performance marketing is an effective mechanism that enables tour brands to measure KPI of their ad campaigns, defines the cost of each call, orders, and the final costs of attracting the customer. As a rule, the big data for such analysis they gather with the data platforms. The integration of such with programmatic ad platforms provide an opportunity to serve highly targeted individualized advertising. It was revealed, however, that still has many loopholes for scammers and is plagued with uneven money distribution among parties as each programmatic chain participant defines commissions individually. programmatic advertising Since Blockchain is known for its transparency and fraud-resistance, many startups build their projects on utility tokens for internal transactions. This helped to completely remove intermediaries, which many of those are regularly represented on . TechCrunch Startup Alley The other initiatives include programmatic blockchain-based ad platforms, that have already gained adoption among many publishers and advertisers. Technically, they work like programmatic ad platforms, but the transactions in it are arranged into the public ledger blocks that form the incorruptible chain. This way, supply and demand partners defend themselves from fraud, cut intermediaries such as traffic quality arbitrators, and audit all commissions and operations without having to bother their partners. To sum up The travel industry has been stagnant for many years, that’s why it has accumulated way too many issues related to service monopolization and insufficient transparency. A couple of big industry players oftentimes control access to the best flights, hotels, and tour offerings, but with blockchain-based innovations coming to the scene in 2018, the situation is bound to change. Blockchain technology is transparent and secure by design. This will help to decentralize services and remove budget-consuming intermediaries, thereby naturally reducing the cost of services, and increasing their quality.

5 Most Promising Blockchain-Based Tourism Projects

This guest article was originally published on @lufthansainnov Blockchain seems to be at the peak of its hype cycle. What’s the status quo and what is the potential impact of blockchain on the aviation industry? We sat down with , Senior Venture Development Manager and blockchain expert at the Lufthansa Innovation Hub in Berlin: Reinhard Lanegger 1. Blockchain technology has been praised for having the potential to disrupt virtually every industry. What kind of impact could it have on the aviation industry? is certainly not a universal remedy. In our industry, it could have a direct impact on the travel experience. One exciting example is secure identity management: Blockchain could enable a seamless, automated process together with biometric recognition. Travelers would then have no need to enter pass data for immigration purposes. At the same time, they would remain in full control of who receives their data. Other potential use cases, for example, include the on-chain reference to secured storage of airline maintenance docs, inter-airline settlement solutions, fully automated travel insurance, or loyalty coins. Blockchain 2. The Economist has described blockchain as “a machine for building trust.” Looking at the aviation industry, where could we skip the middlemen? Our development partnership with Winding Tree, a decentralized operated and governed B2B marketplace for airlines and hotels, is just one example of skipping powerful middlemen in the Travel & Mobility Tech ecosystem. Simply put, in the future, airlines, hotels, and other travel service providers could offer their services on Winding Tree’s platform and companies interested in the respective content will only connect to the blockchain based distributed B2B marketplace to get specific offers tailored to their customers’ needs. Once operational, Winding Tree strengthens the Lufthansa Group’s core direct distribution strategy and thus decrease distribution costs while preserving inventory integrity. As a result, customers could benefit from more competitive pricing and new opportunities within offers from partners. 3. Do you believe that an airline like Lufthansa, which has been in operation since 1955, can break away from traditional business practices and proactively develop new technologies, or will new digital players with relatively little aviation experience set the standard? The Lufthansa Group has a strong affinity for new tech. We will only implement the latest in areas where we can draw on blockchain technologies’s full potential. Moreover, blockchain use cases already have a group-wide platform for testing and implementation as part of the new digital strategy lead by Lufthansa Group Chief Digital Officer, Dr. Christian Langer. technology 4. How could a traveler benefit from blockchain-based solutions in the long term? Blockchain fosters transparency and trust by simply cutting out the middlemen. In the end, this leads to price advantages and richer offerings, especially with regard to third-party solutions. Blockchain-based travel insurance and compensation solutions, for example, will make it easier to deal with claims, compensation and refunds for customers when there is a service disruption. For airlines, such a solution also increases transparency, simplifies the related processes in a very complex supply chain, and significantly reduces handling costs. 5. Even blockchain proponents admit that it could take a while for the technology to catch on. After all, the Internet’s foundational technologies were created in the 1960s, but it took decades for the Internet to become ubiquitous. How long before we see blockchain-based solutions in the aviation industry? We live in times where the rate of change is exponential. Therefore, I expect blockchain solutions to have a noticeable impact on our daily lives in the near future — even in the Western world, where trust is usually not the most critical problem. However, adoption will need some time, as there are issues in the aviation industry, like the commitment to transparency and within blockchain technology itself, like scalability, to be solved first. Closed ecosystems use-cases will be the first, experiencing the benefits of distributed secure ledger technologies like blockchain. 6. As discussed, media has reported about the blockchain as if it was a technological solution for virtually every problem — even for areas not yet regarded as problems. If we take a closer look, what does the reality look like? In general, there is a wide variety of distributed ledger technologies that very often include considerable tech and business challenges. Despite all the hype, decentralization is sometimes not helpful when a central custodian already meets the necessary trust level. Petro, Venezuela’s cryptocurrency backed by oil, is a real centralized example that challenges the general notion of having decentralized custodians with no single party in charge. The state issues a cryptocurrency to circumvent sanctions imposed by other states and needs cover from the hyperinflation their fiat currency has. The cryptocurrency has the central argument why blockchain was invented vice-versa at its core, a central bank as the market and value controlling entity. 7. To minimize the landscape, can you name three blockchain startups/companies to look out for and why? I definitely have my eye on Clovyr. They are building a developer tool that simplifies the process of implementation and creation of blockchains. This is a huge challenge right now because a software bug or backdoor can lead to immediate money loss due to the direct monetary interconnection of blockchain solutions. Take as an example. MtGox exchange Another exciting project is 0x, one of the many decentralized cryptocurrency exchanges. At the moment, in order to exchange conventional money (fiat money) to cryptocurrencies or crypto to crypto, you need a centralized exchange (just like with foreign currency exchanges). As legal companies, they are controlled by a group of people with non-transparent strategies, whom you need to trust to handle your funds responsibly. For example, Mt. Gox was hacked with the help of an employee and lost 850,000 Bitcoins at the time worth $450 m. While some of the currency could be recovered, there is a need to decentralize these single points of failure. Filecoin is also promising. They are working on decentralized file storage where anyone connected to the Internet can offer their spare digital storage to third parties in a secure way. You are only paid for the usage when you provide the data (small encrypted chunks of data, not individual files) at the very moment when the established owner needs it. We are happy to announce that we joined forces with SAP.iO to kick-off the first Aviation Blockchain Challenge worldwide to bring awareness to groundbreaking ideas in various fields of Blockchain technology application, and to initiate actual pilot projects in the aviation industry. Apply here , if you’re up for the challenge!

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