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FEE-LESS Blockchains & Smart Contracts: Introducing Koinos' MANA

Initially, Ethereum was not created as a payment system, but rather as a tool for creating decentralized applications (DApps), in which any operation is managed through smart contracts. Therefore, in order to transfer funds from one address to another, a smart contract is created. Yet there is Ethereum blockchain and there is Ether (ETH) — a fuel that helps to run the blockchain. There are 3 kinds of actions available for you on the Ethereum blockchain: • Transfer Ethereum coins from one wallet to another. • Create a smart contract and add it to the blockchain. • Execute a smart contract. For each of these actions you must pay a commission, the commission is expressed in Gas, and Gas is always paid in Ethereum (ETH) — that’s the order. No matter how well your transaction’s gone (even if it didn’t at all), you have to pay the commission because miners must check and verify your transaction and it is something that requires an amount of computing power, so you have got to pay for these calculations. After all, Gas is used to pay the miners (who secure transactions on the blockchain) for their efforts. The main principle here: the higher the price — the higher priority and favour for the transaction to be completed. Apart from being a reward for miners and maintaining high speeds of transactions, Ethereum Gas also provides a possibility to maintain simple transactions and moderate fees in a competitive environment. Because of this, the blockchain is saved from an excessive load. Thanks to this “sensible economy” a lot of users choose Ethereum to create decentralized applications and conduct ICOs. In general, by the word “Gas” is meant Gas limit and Gas price. The total transaction cost is the Gas limit multiplied by Gas price. Gas limit can be presumed as units of vehicle fuel which the vehicle’s gas tank can hold. Thereafter, Gas’s price can be represented as the vehicle’s fuel price. For example, if you want to execute 10 lines of code on Ethereum, you’ll have to pay 10 Gas units. Think of it just like your car which consumes 10-gallons of gasoline for a 10-mile drive. Gas limit Having a Gas limit means that a limited number of transactions can pass through blocks per unit of time. Gas limit was created as a tool for error prevention, the correct Gas price directly affects the speed and success of the transaction. Using Gas limits, developers can make sure that their smart contracts run safely and surely over the network. Gas limits also protect the wallets of imprudent users from frauds, when scammers set up unlimited repetitions of transactions and get benefit of it. If a user tries to complete a transaction that exceeds their Gas limit, the transaction all way round gets canceled. Services like The Gas Station or EtherScan will help you track the cost of gas. Every transaction requires at least 21,000 Gas according to this table, provided by Ethereum Yellowpaper: Gas price The more Gas you pay — the faster your process on the blockchain is done. Whoever initiates a transaction decides how much gas he’s willing to pay for it. There is a minimum and maximum of the Gas commission, depending on the complexity and significance of the transaction, the price may change. The price per unit of Gas is represented in GWEI also known as WEI. WEI to ETH is equivalent in the way that a penny is equivalent to the dollar, it is the smallest denomination of the currency. One GWEI is 10^9 WEI and provides a much better user experience for calculating gas costs. The average Gas price on most joints is 20 GWEI, which should be optimal to get a transaction completed in a couple of minutes. Price & speed The transaction fee is received by the miner who gets the block, it’s a reward for the job he’s done. When miners begin a block mining, they decide which transactions to include in it. They may choose to leave the block empty, or they may include randomly selected transactions. To incentivize miners to include transactions in blocks, you need to set the “gas price” so high that they want your transaction to be part of a block. Most miners have quite a plain strategy: they sort transactions from the highest gas price to the lowest, until either the block is full or they finally get to a transaction whose gas price is lower than the amount miners are interested in. You need to set the gas price high enough for the miner to include your transaction in the block. If the time is limited, as in ICO, you can set the gas price even higher to take the first place in the queue. If you’re chill about the time, then you just need to set an average price so that someone will include your transaction in the block at last. All in all Gas helps to keep Ethereum blockchain secure and reliable. Gas, along with fueling the network, does the job of preventing accidental or scam loops. Gas is the heart and core of Ethereum, so it’s good to know that the system works so well that users don’t have to worry about their well-being in the crypto world. Follow us to get the latest news about the crypto world. The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.

GAS in Ethereum: Everything You Ever Wanted To Know

“Don’t Let Your Memes Be Dreams!” Crypto what ? …currency… ? Oh yeah, I heard about that stuff, what is it again? Useless “virtual money” that is used to buy guns or drugs on the DarkNet? Ok, so… cryptocurrencies are in fact…currencies… that you can actually buy stuff with. You can get anything as long as there is a buyer and a seller **future gang, future gang, future gang** Mmh, that sounds complicated, I don’t really trust it. Also, I heard it takes ages just to make a transaction, let alone buy something. I don’t wanna get hacked and lose my funds. I. BANANO, you say?! The value of money will be taught in kindergartens, with BNANO as the first chapter. If you don't own BANANO by now, your little sister will probably lend you some! -- Banoshi Nakanano is a that has and transactions! Unlike other cryptocurrencies, BANANO transactions actually happen in real time! BANANO revolves around a simple idea: Indeed, you can start NOW and get BANANO. It’s as easy as ABC: BANANO cryptocurrency feeless near-instant to make using cryptocurrencies effortless and to have fun doing it. free not_eska, totally new Discord user that just arrived™️ Simply announce yourself on BANANO’s or server by saying: “Hi, I’m new!” and a Citizen will send you a one-time BANANO present as a welcome gift. This is your first step in the community, use your BANANO immediately by the user that helped you. The rest of this article will teach you how to get even more BANANO! 👀 Discord Telegram tipping Wait a minute ! Is it that easy to get ahold of some cryptobucks? There must be something fishy going on. I smell a rat. What’s a BANANO really worth? These days, 1000 BANANO are worth about 1 dollar. While its price can fluctuate, perhaps its real value is its community and the friends I made along the way. First things first: grab a glass and drink water! II. The BANANO Project History (with a big Hash) The reddit CryptoCurrency Meme of the Year Award goes to … It all started as a joke, when two developers said: “Let’s launch a fun and idiot-proof cryptocurrency based on memes” — a — (…a what now?) … you know… these silly images from the interwebs featuring cats or Keanu Reeves. memecoin Memes The cryptocurrency community welcomed the idea with a certain enthusiasm: What’s the purpose? There already is one! It won’t be worth anything! With this encouraging feedback, the two BANANO fathers — ChocolateFudCake#1337 and renesq#4080 on Discord — announced BANANO’s birth on April 1st. The BANANO community has been growing steadily ever since this particular Sunday of 2018. The genius idea of BANANO is . That being said, BANANO really does have a value. You could actually them for any other currency on sites. The $BAN has a monetary value that is more or less stable and follows market rules. to be able to get started with cryptocurrencies, without spending a penny, nor worrying about losing money or getting hacked trade exchange Overall, BANANO is a project that . does not take itself too seriously, but still maintains itself as a very solid project Slow down, slow down! I can’t follow you. Are you really telling me that I can obtain free money as a way to teach me how money works? …Fair enough, where do I sign? III. Stack Your Potassium! : BANANO’s official Android wallet ( ) Kalium open source Every currency needs a . If you are reading this article on your smartphone, just install the app. If you are using a browser, create a new wallet on . (No, really. Just do it now, 👀 because we might load it 🔜™️.) …But, what is a cryptocurrency ? Theoretically, a wallet consists of two main parts: wallet Kalium BananoVault wallet A : or private key, that must be kept secret! seed A : that you can share to receive funds. public key The seed — a kind of bank password that might look like must — be shared or divulged to anyone since it defines the ownership of your funds. Your seed unlocks and gives access to your wallet. 42003133700ABCDEF00BADC0DE00AB01270019DEADBEEF005EED005EED031337  — NEVER, I REPEAT,  NEVER Ok, let’s try something, if you are the first person to get to this paragraph, and if you already have some $BANin your wallet, then use Kalium’s “ ” and you will instantly get some BANANO by scanning this QR code: Load from Paper Wallet The public keys are addresses that always start with: and is often represented using a QR code. They’re like bank account details that you can scan easily in order to send funds. Each BANANO public key also comes with its very own ban_ monKey : Your monKey and your QR code card are displayed on Kalium wallet. Some accessories are rarer than others. monKey This monkey will not feed itself! How do I fill my wallet with some bucks? 💵 🍌 Could I also get me some bacon with that? IV. Open The BANANO Faucets! 🚰 💵 Microtipping: On the BANANO Discord and Telegram , your activity, creativity, memes, emojis, drawings, costumes are rewarded with some $BAN. 🎮 A Gamification Approach: To get even more $BAN at once, BANANO relies on . Faucets are websites that can give you a small amount of $BAN, for instance by playing a game. faucet gamification is a typical example. It’s a simple game — but sometimes irritating — where you need to single out the one out of six monkeys that is different. The more you’ll play, the more you’ll earn $BAN. This faucet opens twice a month and distribute a few millions BANANO in 24 hours! Black Monkey BUT THERE’S MORE! by monetizing cancer and disease research via the project. You help the project by letting it use your machine’s idle CPU and GPU cycles and BANANO pays you according to your computer power. BANANO also helps the fight against cancer Folding@Home Help research 🔬 = get BANANO 🍌 Easy as 2+2=? Is it a nicer alternative mining  Bitcoin without contributing to climate change? What else can I do with $BAN ? V. What’s This Sh#tcoin Usecase?! “Two things are infinite, BANANO creativity and human stupidity…” — Alberto Copernicus 1919BC Here is a short list of real-life applications of BANANO, you could even try to come up with your own application in order to achieve your social success: 🍇 use to tag the DAG forever and ever. monkeytalks 👷 post a job offer on 📝 own your of pixel history 💁 tip your favorite make-up influencer on bananojobs piece internet twitter 🚸 start a college fund for your little one 🎲 this very college fund money on betting 🔜 ™️ accept Banano on your e-shop 🎒 teach kindergarten kids the value of money using $BAN as rewards. lose online games 🍰 help Venezuelan people via Little Carter™️ learns the value of money, thanks to Banano stars. crowdfunding “I Suffered a Stolen” Understanding how to use cryptocoins also comes with . BANANO’s motto is to learn by doing, and you won’t be a cryptorookie unless you had a few mishaps with your wallet. Like this guy who lost his private keys in a tragic . understanding pros and cons boating accident 💀 you shared you key publicly (and lost all your funds) 💀 you forgot to save your seed (and lost all your funds) 💀 you let your funds on an exchange that got hacked (and lost all your funds) VII. What’s Under The Hood ? Technically, BANANO is a total rip-off of , a great project based on the technology. This tech allows every user to be the master of his own . BANANO’s total supply is fixed and has been , hence the need for a and . Since the transactions are , a little is required to create blocks and acts as network . BANANO has a supply of about coins, 300M of which have been burned on BANANO’s first anniversary 🔥👀. NANO DAG blockchain pre-mined fair controlled distribution near-instant Proof of Work anti-spam 3.1 billion medium.com BANANO Social Media Recap April 2019 April already, already since a few days! The BANANO main net has started 1 year ago and was celebrated with a massive… Explaining BANANO’s inner workings in full technical details would require a full article. If this article gets one clap I will consider it my duty to write about it in a new article. Meanwhile, let’s take a look at BANANO’s most valuable asset: the community. VI. Community and Philosophy BANANO, is FIRST AND FOREMOST a very welcoming and helping community whose creativity has no equivalent in the industry… The Banano Republic is an ecosystem of more than a thousand citizens where mutual aid abounds, ideas sway, developers sprout, and neophytes meow; where life is good, where people can learn easily and where people have a lot of fun. I said LOADS OF FUN: Discord Events and Distribution: regular karaokes, music trivia and contests, such as drawing or costume competitions are held by devoted and hard-working Citizens. Prize money in $BAN for winners, podiums and participants are rewarded too. This is an opportunity to meet people from all over the world and have fun together. Music Jams and Contests: (Yeah it’s an excuse for having a party.) : crypto-related riddles where you need to be the fastest to crack the code and find the hidden private key. These puzzles are an opportunity to learn about a particular feature of BANANO. A little monKey told me there might be some puzzles coming for (and maybe even in this article? 👀). Crypto-Puzzles Christmas Wow, you read the whole thing?! Reply to this story with the QRCode of your public address and a question for a full-of-potassium surprise 🍌 VIII. Social Links 🐦 Follow these links to join and learn about the community: | | | | | | Discord Reddit Telegram Medium Steemit Publish0x Twitter Instagram Facebook : : : : : , — Official Website: banano.cc — Help Getting Started: banano.how — Yellow paper https://banano.cc/yellowpaper — Discord chat.banano.cc — Main Telegram https://t.me/banano_official — French Telegram https://t.me/Banano_FR — Medium Banano BANANO Italia | | BANANO News BANANO links BANANO events 💻, 📷 and 💛 Credits: , , , , , , , Muhammed Yekta Güngör Deiv Brandon Berhent Appditto Snappadoodle joinity Oops SoggyApplePie Disclaimer: The Author is associated with BANANO as a Community Member.

Start Transacting This Memecoin Cryptocurrency Without The Headache  [feat. BANANO]

Ultrain — Decoding the Next Gem !!! No Public Sale, Backed by Stong Private investors. Can Ultrain be the Blockchain 3.0 Leader? The Past few months was hard for cryptomarkets, particularly for the . Majority of ICO’s that came with a lot of fanfare and hype, was struggling even to cross the 50% of set capital targets. Private funding almost dried up. ICO scene Even in these dark days, One ICO, Ultrain surprised everyone by skipping the P went ahead with raising of in from Draper Capital. In addition to Draper Capital, additional funds were also raised from a basket of Investors including FBG Capital, DanHua VC, Arrington XRP Capital, Bixin, Morningside Capital etc. ublic sale, $20 Million Private funding I thought it will be interesting to review and discover what promises Ultrain hold, which attracted a large amount of VC Funding. First up, give it all 50 claps, then dive in and enjoy! Introduction Blockchain Technology has undergone a huge transformation in the past few years. Old Granddaddy which was based on PoW, was termed to be “ ”. Bitcoin Blockchain 1.0 Next came Etherum with the revolutionary ( exchange anything of value in a transparent, conflict-free way) and , set the next stage of evolution which opened a new set of markets and changed the landscape significantly. smart contracts dApps Blockchain 2.0, expected to remove all the drawbacks of previous blockchain platforms namely: Blockchain 3.0 Scalability Issues Interoperability Sustainability Governance In order for blockchain to go mainstream, the first step will be to resolve all the above bottlenecks. is expected to offer better capabilities, as well as opening a sea of new opportunities for the next-gen projects. Blockchain 3.0 Source: Ultrain website Ultrain, along with other blockchain projects like EOS, Dfinity etc are working hard to lead this change. ? Ultrain, Can it be the next Blockchain 3.0 leader Ultrain has coined their Vision as “ ”. Before we move ahead, Lets first try to understand more about to advance the realization of a programmable business society Programmable Business Society. In the current era of Globalization, business does not stand as a single entity neither it can distance itself from the interaction of the outer world. In this new world, all information is increasingly visible, interconnected and exchanged. This is called as “programmable business society”, with Artificial Intelligence (AI), Blockchain and Internet of Things (IoT) as its three pillars. In this new society, Trillions of business transactions will migrate from traditional to smart business contracts, which are automatically executed and realized by through the control and delegation of resources in the by . Decision-making during the automatic execution process will be driven by decentralized that operates on the Internet of Things (IoT) blockchain artificial intelligence (AI) blockchain For realising the dream of building It's important to have a better technological advancement with Blockchain, AI, as well as IoT technologies. Blockchain has the capacity to introduce trust, AI will deliver fair and efficient smart decision making which will improve productivity, while IoT will reform the means of production with the help of advanced automation. Programmable Business Society, Ultrain Envisioned blockchain infrastructure This is what Ultrain is planning to achieve. Technical overview of Ultrain. Source: Ultrain Whitepaper In the beginning, we have discussed various bottlenecks faced by the current Blockchains. Keeping those bottlenecks in mind, Ultrain has developed its own architecture, which is expected to give a solution to all the drawbacks which will enable Ultrain to be the frontrunner for new Blockchain 3.0. (For a detailed tech report, you can refer to the and ) Whitepaper Yellowpaper 1.High-Performance Computing Ultrain has developed a new consensus framework which is termed as “ ”. With the help of this new framework, Ultrain can achieve a 1,000-times increase in performance with only 1% of the computing power requirements of the traditional POW network maintaining the same security levels. Random trusted consensus framework The notable feature of the consensus framework includes Completely decentralized architecture — Ensures high security Ultra-large-scale network cluster — Can be upgraded up to 1 million nodes Multi-terminal support — Option to connect external devices like a smartphone which will bring in additional computing power for the entire network High-performance execution — Main Chain and Sidechain (the network doesn’t get congested which will help the network to efficiently scale) Decentralization scalability design 2. Trusted Computing Creates Value If you are having any past experience in Bitcoin mining, you will be aware of the sheer computing power as well as heavy investments needed ( more expensive, non-environmental friendly). Making a breakthrough, Ultrain has developed an innovative cryptography whereby only 1% of the network’s computing power is required to implement mintage. When a consensus is formed, remaining 99% of the computing power can be provided as trusted computing to manage services, such as CPU computing, GPU computing and so on, for external parties. ual-layer Token Architecture 3. D Similar to Neo and VChain, Ultrain has adopted the dual-layer token architecture system of UToken and UGas. In Ultrain, Each dApp can issue its own tokens based on Ultrain and also design its own token system as per its business model. Also, the dApp can choose different consensus mechanisms, including PoW, PoS, DPoS, PoA and RPoS or even establish its own consensus mechanism if needed. UGas will be used as a charging and settlement tool in Ultrain Ecosystem similar to the “Gas” of Ethereum as well as for voting purpose. 4. Consensus Building Mechanism for Mutual Confirmation Ultrain has developed a mutually confirmed consensus building mechanism (A hybrid of POS+VRF+BFT consensus). It's basically a Network governance mechanism based on democratic voting, where all participants can contribute to building a better future together without requiring a full consensus. An individual voting weight will be depended upon UGAS that he/she holds. The more resources you hold, the more will be voting weight. This approach helps to reach consensus faster without the sheer wastage of resources compared to another consensus mechanism. With the help of this innovative approach, Ultrain can process transactions in Mainchain up to , with a , while the side chains can process , with a confirmation time of 1 second. 20,000 TPS 15 second confirmation time 4000 to 5000 TPS 5. User-Friendly Smart Contracts Unlike other complex smart contracts which are written with C++, Ultrain makes use of user-friendly smart contracts based in language, giving developers an opportunity to create complex smart contracts in a limitless environment, which is needed for developing industrial level applications. You can read more about Ultrain smart contracts in the . Go and JavaScript yellow paper 6. Artificial Superintelligence on the Chain Ultrain has designed a reinforcement Learning Platform on the Chain Based on idle computing power, which includes not only multiple master AIs indispensable for the operation of Ultrain but also AIs deployed by third parties that provide various service capabilities. The AIs running in Ultrain has features like Trustworthy AI ( Runs on the blockchain, cannot tamper) Socialized data contribution ( users will be rewarded for contribution) Reinforcement learning Roadmap. is fairly active with 10 Repositories which are getting updated on a daily basis which shows good activity in development. As per the product roadmap, the Current stage is Supernova where the Public Testnet will be launched( I love the way they have termed the milestones). Recently they have announced the on Oct 8th, which means the team is on schedule. Ultrain Github Public test net launch Team Ultrain is based out of Singapore and is lead by 3 co-founders. , who is the CEO, is an Ex Alibaba, Director of data security. He got more than 10 years of experience in various leadership roles which includes Technical director as well as Head of the Innovation Development Center of the IBM Global Consulting Service. He was also associated with top rated organizations like China Mobile and State Grid. Ray Guo The CTO is , who was Head of Technology at AliPay Blockchain team. He got a rich experience of more than 11 years in high-performance computing, operating system core components, operating system resource scheduling and many other fields. His past roles include Tech Director of Blockchain at Ant Financial. William Li The CSO is Emma Liao, who is the founder of Pioneer Capital, a leading boutique investment bank in China. She was the Managing Director of Golden Brick Capital TMT, founding CEO of Kunlun Redstar (the first professional ice hockey club in China). She also headed the IOT investment for QIHU 360. Her expertise includes investment banking, corporate operation, Overseas cooperation and IoT technology. The other members of the team consist of highly experienced individuals who have worked with strong brands like Nokia, Motorola, Alibaba, Huawei, Google etc. Overall a star team. You can read more about Ultrain team here Token Metrics The token of Ultrain ecosystem is termed as UGAS. Currently, UGAS is an ERC-20 based token but as laid out in the roadmap, the mainnet is expected to be launched in Q2-2019. The total number of tokens to be issued is capped around 1 Billion with no pre-mined tokens. There was no Public Sale of tokens only private sales of 10% of Token was conducted to Private Investors which have raised $20 million in funding.(1 UGAS was valued @ $0.20). Below given is the distribution plan of Ultrain 50% Mining 15% Core Team 10% Foundation/Ecology 10% Private Sale (Already completed) 10% Consultant & Community Building 5% Future Private/Public Sale My Take Ultrain is an ambitious project, aiming to remove all the bottlenecks current blockchain is facing. It will be facing tough competition from established players like EOS, Zilliqa, Cardano, Aion etc. Ultrain has just started its journey, whereas other projects are way ahead in their roadmap, which includes mainnet and testnet launch( EOS, Aion, Zil, Aelf etc). All said, none of the projects has efficiently resolved all the drawbacks and most of the projects are struggling with bugs(EOS), Scalability issues (ETH, BTC)as well as internal issues. This gives Ultrain, a golden chance to take the pole position for Blockchain 3.0, with the various innovate approaches and solutions it’s planning to bring to the blockchain world. One more noticeable factor is the strong presence of Alibaba name all over the project. Two co-founders have worked past for Alibaba group in high profiles. It’s an Open secret that Alibaba is actively looking for Blockchain partners in IoT space. Ultrain perfectly fits the bill. From my perspective, apart from being technologically successful, the project has to provide a good ROI to the investors as well. Majority of the ICO’s that has launched in the past 6 months has tanked hopelessly( 90% down from the ico value) and are struggling with providing liquidity. With just 10% of the total volume available for circulation, No public sales and presence of Private Investors like Kucoin Exchange as well as Genesis mining announcement with , Ultrain has the right reasons to provide a good ROI in short team as well as long-term Hold. Bgogo For more details. Ultrain Twitter: @UltrainB Ultrain Telegram: @ultrainchain / @Ultrain_CN Ultrain LinkedIn: @ultrain Ultrain Facebook: @Ultraincommunity Ultrain Medium: @UltrainCommunity Ultrain Website: ultrain.io Disclaimer : This article is not intended as investment advice. You should always do your own research and invest your capital wisely. I don't own the token, neither I will be rewarded for writing this article.

Ultrain — Decoding the Next Gem !!!

If you want to go to the Moon, you have to follow some ground rules. Or do you? Whatever brought you here, your last click was your first as a CryptoLawyer. Welcome aboard! We’re glad you’re here. We need all the help we can get. Let’s get started. What is CryptoLaw? CryptoLaw is a big deal. Here’s one way to define CryptoLaw: CryptoLaw: a cloud of legal norms, processes, institutions, and vocabularies for governing inter-crypto ( .), intra-crypto (ETC v. ETH), and all other legal relations concerning crypto instruments, institutions, and markets (public legislative/regulatory oversight of crypto; enterprise-crypto integration; intersection of private contract law with private so-called “smart contract” #CodeIsLaw; etc.) Ethereum Foundation vis-a-vis OmiseGO, etc This is just the tip of the iceberg in our conception of . But it’s a good start. CryptoLaw CryptoLaw structures our imaginations of what’s possible in the crypto-economy. It gives us certain operational logics and vocabularies for resolving crypto-legal disputes. It defines what’s possible and impossible and the costs of blurring the line between the two. CryptoLaw Strategies CryptoLaw doesn’t just exist. It’s not just a thing that sits there and governs. It’s an experimental system of governing human relations. And it’s got a LOT of problems. If you want proof, here’s our list of . Crypto’s Biggest Legal Problems A CryptoLaw strategy could mean anything from coalition or cartel-building (such as ), direct regulatory engagement (IOTA), , or something else. Stanford & E+5 impact litigation Over at we are continuing work on an analytical piece called that maps out the crypto legal landscape, from theoretical all the way down to the most seemingly mundane and “technical” things like … oh, you know, jurisdiction: . , Crypto Law Review CryptoLaw can do , and who what where In order to do this well, we need to open up a bigger runway so we can spread our wings a bit further. For instance, we’re learning things in our research that expose the “personal factor” — individuals’ ideological leanings that might have steered a particular project in this direction or that direction. As relative outsiders to the crypto development space, we have no particular need or desire to make our analysis “personal.” Nor do we technically have a need to talk about particular projects, like Bitcoin, or Ethereum, or Ethereum Classic. We can generalize and make the arguments abstract. But as arguments get more abstract, they become less compelling and less immediately relevant. So, in order to strike the right balance and develop the broader CryptoLaw arguments that we need to develop, we offer these contextual notes — basic explainers on why we’re doing what we’re doing with CryptoLaw — in the off-chance that these notes might be useful to you in formulating your own CryptoLaw strategies. Our Bona Fides Before we get further into CryptoLaw arguments, we need to introduce ourselves and build a little trust. We do this so you see that (a) ; that (b) (c) we appreciate ; and, that (d) instead of FUD, intended to put crypto on much stronger footing. we have no conflicts we genuinely respect crypto developers’ efforts; divergence of views within crypto this is constructive critique For some time now, we’ve been exploring these themes in different forums and from various perspectives, including (a) (b) , (c) , (d) , and so on — analysis that is being continuously refined and expanded at , which we also started. Against “Smart Contracts ,” #CodeIsLaw … Maybe Crypto Needs Better Lawyers ASAP Crypto Scaling is a Legal Problem Crypto Law Review Suffice it to say, we’ve sunk a lot of resources and time into developing these arguments because we think they are of existential importance to crypto. It’s important to lay this groundwork so that we — (we+you) — resist the urge to generalize “ ” as this or that, good or bad. CryptoLaw CryptoLaw arguments can’t be reduced to a meme or a blurb, just like inner workings of Bitcoin can’t be reduced to a gif. In order to reach you, we’ve written in different genres, registers, and tones (from abstract and theoretical to concrete and practice-oriented). “CryptoLaw” is our most eclectic analysis of the true costs of misunderstanding how Law structures social order and economic exchange — in both material and so-called “cyber” realms. — mapping the — is a complex analytical project that defies easy categorization. If you prefer bite-sized nuggets instead, the list of ingredients that went into this stew is up above. CryptoLaw Crypto Legal Matrix If this approach speaks to you, great. If not, please tell us how you would sharpen this analysis. One way or another, if you care about “crypto,” you’ll need to work through the themes raised here — the issues are just too foundational to ignore. In our view, the sooner this is done, the better. Time is of the essence. Your Bona Fides & Alliances While some of the themes thus far may seem theoretical and abstract, we must be clear that — with real-life consequences for billions of people. CryptoLaw is war We’re all combatants in a major fight for control over the conceptual architecture of the 21st century. Control over CryptoLaw = control over the 21st century economy. We’ll illustrate this with concrete examples and illustrations. But bigger picture, here’s our position in this war: (1) Crypto never should have positioned Law as its enemy. (2) By now, the “CryptoLaw Bar” should be should be smart enough to realize the futility and real costs of that approach. (3) It’s not too late to adopt different CryptoLaw strategies with much higher probabilities of better outcomes than the current adversarial model of engagement with Law. Phrased differently: If you cling to the framework like you cling to your Ledger Nano, then you don’t understand law and you don’t appreciate crypto’s potential. You may think you’re winning big battles, but you’re actually losing the war. Crypto v. Law If these sound like fighting words, please remember, we in the midst of a war. If you need proof, search for “crypto” and “law” in your favorite news engine. Scan the results. Exactly. are You, Esquire By “CryptoLaw Bar” and “CryptoLawyers,” we don’t just mean “lawyers” in the traditional sense of the word. Instead, the growing CryptoLaw Bar includes CryptoCats like , & everyone who has ever used Legalese (such as the term “smart contract”) — including Gavin Wood Vitalik Buterin YOU — irrespective of educational or professional background. If you’re a crypto dev, you might never have seen yourself as a CryptoLawyer. You might mistrust or even despise lawyers. You might have thought that Law and Lawyers were part of “the problem” for which Crypto was “the solution.” If you thought that, you were wrong. Not trying to be mean; just stating the truth. Don’t Take Our Word For It, Read Yellowpaper.io Please understand that it’s not little ol’ CleanApp that’s calling you out, saying you’re wrong to fight quixotic legal windmills, and tagging you into the CryptoLaw Bar. It’s the law firm of (founders of Bitcoin, Ethereum, Ethereum Classic & CryptoLaw) who opened the CryptoLaw Bar, threw you in it, and then locked the door on their way out. Nakamoto, Wood, Szabo, Buterin, Hoskinson & Associates, PLLC Here’s Gavin Wood , telling us we were all crypto-lawyers who were now finally free to play with our magical crypto-legal “building blocks” to construct whatever shady legal things we wanted to construct: at the end of 2015 While contracts that provide pure services concerning each one of these pillars [(1) Identity; (2) Assets; (3) Data] will be extremely useful, these should be considered merely appropriate shades. building blocks from which a crypto-lawyer (or crypto-lawmaker?) may construct It was all fun and metaphor when we were imagining what it’d be like to be “crypto-lawyers” and “crypto-lawmakers.” But now that , now that the “shitcoins” are ricocheting off the SEC’s long-arm fanblades, people should realize that not everyone’s a “crypto-lawmaker” in Cryptopia. we’ve started being called to account Everyone Wins v. Winners & Losers There are winners and losers under any set of rules. Winners understand the rules better … because they write them. CryptoLaw’s (and crypto’s?) biggest failure thus far is the self-delusion that everyone’s a winner because everyone is free to write the rules of their own game, and, crucially, everyone is free to either play a given crypto game or not. The dominant crypto paradigm today is: everyone wins. If you HODL, you win. If you sell and profit, you win. Heck, even if you sell , you win. and lose How so? Even though you’ve lost big today, you’re really winning because you’re learning . how to win even bigger … tomorrow It’s gambler “logic.” Returning from Vegas after losing everything, you brag about how much fun you had, how many buffets and show tickets you were “comped,” and how you’ll “get” the Circus Circus next time. Gamblers know better than anyone that, statistically, “the house always wins” & “the rules are rigged.” Yet despite this knowledge, gamblers, by and large, follow the rules. Why? Because (a) everyone does it; (b) there are a lot of those damn rules, with lots of different costs for transgression; (c) there never seems to be enough time to learn “all the rules;” (d) [ “X” ]. So, better be safe than sorry. Better luck next time. In today’s Circus Crypto, the logic is the same. Even if you lose your fortune, you’re a winner in “experience points,” “dignity points” and “Liberty tokens.” Your Liberty & Dignity are preserved because you had the crypto-legal right to “inspect the code,” to familiarize yourself with “the rules,” and so on. This applies beyond just “trading,” to encompass virtually every aspect of today’s crypto economy: (a) investor v. ICO disputes; (b) trader v. exchange disputes (easy to put money into Gox, Coinbase, etc., not as easy to take it out); (c) CryptoDev v. CryptoDev disputes (ex: ETC v. ETH); (d) crypto mining disputes (ex: intra-pool disputes; Bitmain v. Obelisk; algo v. ASIC; etc.); (e) “smart contract” disputes; (f) and so on. However you may be losing your coin, don’t question the rules of the game. If you do, you’re sowing FUD, which is penalized with the ultimate legal sanction — banishment. Instead, even if you’re losing, you’re getting “rich” in experience points, which “feels” valuable because next time, you’ll know the rules better — greatly boosting your chances of winning. Never mind the fact that next time’s rules are already different (the “X” in the list of ‘Gambler Logics’ above). Again, we’re not talking about just cryptocurrency trading markets and rules, or the governing rules of this or that crypto instrument. The lessons above apply more broadly. Crypto-Casino-Capitalism Law Already, everyone should see remarkable ideological and functional parallels between , , and approaches to rules: Capitalist Casino Crypto (1) Transparency/Open Law: everyone can inspect & learn “the rules,” even though few do (due to, say, information overload from open access to so many rules); (2) Equality of Opportunity: rules are “set” so that everyone can win, even though few do; (3) Clarity: ambiguity is bad; clarity is good. Who decides? The “rules” — ! And if the rules are ambiguous? See #5. (4) Immutability: rules are rules; contracts must be enforced; pacta sunt servanda; (5) Expertise: if changes to #1 — #4 need to be made, trust the “experts” and “rule technicians” to do their thing — you just do you, stay focused on winning. In this regime, it’s clear that you don’t become a winner by following the rules; you become a real winner by understanding the rules. Do you want to know why next time’s crypto rules are already different, even though the “game” is being played on “immutable” code? We thought so. Let’s go on. Don’t Trust Us: Question Everything, Assume Nothing We don’t know what your institutional alliances or ideological beliefs are, but we promise this: . the payoff of working through this argument is a much more solid conceptual and institutional framework for crypto — not just CryptoLaw Don’t “trust” us. Instead, assume nothing; question everything. You don’t need to “trust” these arguments, or adopt any of the constituent premises. Take the questions we raise here and run them through your own logics, or world views. The most important takeaway thus far is to start questioning the . Crypto Legal Matrix Start with the basics: the who, what, when, where, how. Unwillingness to work through this argument and these questions because of Law FUD, or a short attention span — tl;dr — means continuing to labor under irrational and misplaced fear of the legal atmosphere. That means remaining stuck in a that continues to refine , without your consent. Crypto Legal Matrix ways to control you “Law ghosts” pose as much threat to crypto as oxygen — but it’s up to crypto to understand why that’s so. We are making this as clear as we can, including literary parallels to The Matrix, which we hope serves as a common metaphorical point of reference. You are the one who must want a better understanding of the . From there, everything becomes progressively easier. Crypto Legal Matrix It’s Time to Decide So, do you want to stress test your understanding of the world (and crypto’s place in it)? Do you have the intellectual courage to even ask this question — or are you so deeply your “anarcho-crypto-libertarian” or “crypto-liberal” or “crypto-radical” (or whatever other ideology) that your very mind has become … immutable? bound by We know you’re a free thinker at heart. So let’s enter the . Crypto Legal Matrix

Building a CryptoLaw Strategy

Emotiq AG ICO Review - The Latest Gen Blockchain Straight Outta CryptoValley…

Source: https://www.facebook.com/BerkeleyBlockchain/ Beginner Intro to Ethereum lecture ― [ ] ― 60 minutes slides ― Explanation of the types of and reasons for decentralized systems; clarification of commonly conflated terms; theoretical analysis of decentralization ― 11 minute read Meaning of Decentralization ― “By the end of this article, you’re going to understand blockchains in general (and Ethereum, a next-generation blockchain platform, in particular) well enough to decide what they mean to your life.” ― 25 minute read Programmable Blockchains in Context: Ethereum’s Future ― “This essay outlines how the economics of transaction costs and trust could be reshaped by tokens and blockchains and by the stacked architecture on which they are built. The aim is not to prescribe exactly what leaders should do (every business is unique, and the devil is in the details) but to provide a strategic context to help executives frame the right questions.” ― 30 minute read Thinking Outside the Blocks ― An accessible high-level description of the Ethereum system. Most important subsections: all subsections under “Ethereum”, all subsections under “Miscellanea and Concerns”, “Scripting” subsection, and “Conclusion” section. If you do not have high-level background knowledge of Bitcoin, the first section is also important. ― 67 minute read Whitepaper ― “An exploration of different trade-offs in the Ethereum design, upcoming technical developments, and its applications in private systems. For developers using Ethereum or Ethereum-derived solutions, Buterin’s commentary will serve as a useful reference. For business practitioners, the paper will provide further grounding in the complex nature of distributed systems.“ (from ) ― 85 minute read R3: Ethereum Platform Review executive summary Intermediate You will not be able to get through all of these in five hours. Prioritize! Design: ― “The purpose of this document will be to detail all of the finer potentially nonobvious or in some cases controversial decisions that were made in the process of building the Ethereum protocol, as well as showing the risks involved in both our approach and possible alternatives.” ― 36 minute read Design Rationale ― The technical Bible of Ethereum, a formal definition of the protocol, very math-heavy; a rigorous discussion of Ethereum’s “design, implementation issues, the opportunities it provides and the future hurdles” envisaged ― 54 minute read Yellowpaper ― Technical discussion of in-development scaling features of Ethereum, namely, a combination of proof-of-stake and sharding ― 27 minute read Mauve paper ― Seminal 2013 paper that introduced the GHOST Protocol, of which Ethereum implements a simplified version, and which combats the security and centralization issues of fast block time blockchains ― 56 minute read GHOST Protocol Economics: ― Analysis of cryptocurrency monetary policy possibilities to best meet objectives of network security, aligned incentives, and supply predictability ― 15 minute read Monetary Policy ― Explores the question, “does [the Gas Economics model] provide the right incentives and protections to miners, verifiers, clients, and the system as a whole?” Also explores “the ways in which Ethereum programs can be composed, with an eye towards managing the incentives and risks experienced by the cooperating/competing program authors.” ― 55 minute read Gas Economics Cryptography: ― Formal specification for Ethereum’s GPU-friendly, ASIC-resistant proof-of-work hashing algorithm ― 8 minute read ETHash ― Thorough analysis, including overview and analyses of its design, feasibility, and randomizing functions ― 37 minute read Analysis of ETHash ― Quick introduction to how merkle trees work, their present and future value for blockchains, and basic reasoning behind Ethereum’s “Merkle Patricia Tree” ― 9 minute read Why Patricia Trees ― Detailed specification ― 8 minute read Patricia Trees Privacy: ― Discussion of how to increase privacy on the blockchain (cryptographically secure obfuscation, secure multi-party computation, low-tech approaches), and the future of privacy ― 20 minute read Privacy on the Blockchain Security: ― Proposal for fixing security flaws in Ethereum smart contracts ― 52 minute read Oyente paper Proof of Stake: ― Guided FAQ, best read in order ― 42 minute read Proof of Stake FAQ ― Explanation of slashing conditions that allow Casper, the protocol for Ethereum proof-of-stake, to achieve economic finality ― 14 minute read Minimal Slashing Conditions — Explanation of Casper PoS Economics Understanding Casper — 3rd party analysis of Casper compared to Tendermint consensus. Rick Dudley is highly recommended expert by Sunny Aggarwal. Casper, as I understand It Sharding: ― Another guided FAQ, best read in order ― 52 minute read Sharding FAQ ― Ethereum sharding specification ― 8 minute read Sharding v1 Proposal Other: ― Explanation of the abundant technological, consensus-related, and economic problems the blockchain community has yet to solve ― 60 minute read Challenges

Ethereum Technical Deep Dive — from UC Berkeley Meetup June 2017

PARIS, France, December 20th, 2023/Chainwire/--Layer 3 Foundation Announces Testnet of Its P2P Yellow Clearing Network for Counterparty Risk Mitigation. Layer 3 Foundation, a pioneer in blockchain-based financial technology, has announced the launch of a testnet program for its Yellow Clearing Network, the first-ever decentralized clearing system. This initiative marks a significant step towards realising the foundation's mission of decentralizing clearing and settlement processes to scale trading using blockchain technologies. Founded by a team of experts in fintech, software architecture, cyber-security, and market making, Layer 3 Foundation has been at the forefront of leveraging blockchain to create innovative financial solutions. The $YELLOW token, central to Yellow Clearing Network, is a testament to the foundation's commitment to cutting-edge technology and a decentralized future. What To Expect In The Testnet The program will begin with Yellow’s closed beta testnet which will go live on Duckies, Yellow’s Canary Network, which utilizes $DUCKIES as the native token. The closed testnet will open on January 22nd, 2024, and continue till April of the same year and focus on testing key features of the trading terminal, including but not limited to: Opening and closing of clearing channels with counterparts; Off-chain market trading; Settlement of trades using blockchain escrow swaps; Deployment of broker nodes and mining liquidity; Testnet users will play a crucial role in evaluating the trading terminal's user experience, interface usability, Web3 signing flow, and overall system robustness. Layer 3 Foundation aims to gather valuable metrics, uncover vulnerabilities, and refine the platform for a wider audience. Applications for the closed beta can be submitted at yellow.org/canarynet. The company seeks blockchain-savvy individuals passionate about blockchain technology, trading, and finance. Successful candidates are expected to have a basic understanding of financial markets, experience in participating in testnets, and influence within small communities. Preference will be given to seasoned traders and technology enthusiasts who support the company’s mission. Yellow Clearing Network uses ClearSync, a protocol that frees traders from counterparty risk. It achieves this by verifying that all parties have sufficient collateral funding to fulfill trades. This ensures that traders do not exceed their capital limits, giving counterparties confidence that trades will be fully honored. Future Developments and Executive Insights Feedback from the closed testnet will be instrumental in preparing the platform for an open testnet phase and eventual general availability. says Louis Bellet, a core contributor at Layer 3 Foundation. "At Layer 3 Foundation, the imminent market introduction of our technology fills me with immense excitement! It's a game-changer in blockchain's evolution." Upcoming features include cross-chain settlements and enhanced security measures. The closed beta represents a critical phase in Layer 3 Foundation's roadmap to broader adoption and token listing. About Layer 3 Foundation The mission of Layer-3 Foundation is to develop a state channel-powered ecosystem as a Fintech scaling standard to support the evolution of the Internet towards Web 3.0. The company stands behind Yellow Clearing Network, a peer-to-peer solution for trading, clearing, and settlement. Operating as a Layer3 that utilizes state channels, Yellow Network provides a safer way for individuals and institutions to trade. With no requirement to lock assets, thanks to safety collateral, counterparties can transact safely within a liquid and fully compliant environment. Learn more: https://www.layer3.foundation/,  https://www.yellow.org/ About ClearSync Ltd. ClearSync Ltd. is a UK-based technology research center and a developer of the ClearSyncTM protocol, a set of automated smart contracts that allow participants to lock and unlock collateral through state channels to protect the clearing and settlement of assets. This press release is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Contact Head of Biz Dev & Marketing Anastasiia Bobeshko ana@yellow.org This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

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