For us who use Decentralized Finance (DeFi) as a common term, we know it represents an enormous shift in how we transact with one another: borrowing money, exchanging currencies, how we view insurance, etc. While total assets involved in DeFi still seem to be increasing right now, there are various factors that will prevent us from growing further.submitted by BondlyFinance to u/BondlyFinance [link] [comments]
DeFi’s largest barriers for adoption
Interoperability — Right now Ethereum gas fees seem like they are always increasing and ETH 2.0 may still be 6 months or more away. We need the ability to make DeFi more accessible to individuals who can’t afford high gas prices per transaction and start including native blockchain assets that are stranded on other platforms.
Trust — Unfortunately our biggest issue is still trust. While none of us in crypto expect to know the identity of the other party, many of us just send funds to people we don’t know for vague promises of more wealth. In fact, the biggest type of fraud is still the “giveaway scam” which asks offer to send something back — but its only an offer, there is no guarantee. This is totally unsustainable.
What about doing business outside of crypto?
Ultimately, DeFi doesn’t keep going unless we create methods for non-crypto native businesses to integrate. While the community might approve sending crypto to each other without a safety in place, this will never work for 99% of online marketplaces.
So we need:
Bondly is a brainchild of over 3 years of working in fintech digital escrow payments + love for native DeFi. Adding our cumulative 13 years of traditional financial services, 6 years of eCommerce marketing, 4 years of Ethereum blockchain development, we think this will be one of the most important next steps in DeFi.
What is Bondly?Bondly is a trusted, transparent and portable swap protocol designed to make you into a marketplace.
Our family of trust-enabling, DeFi products are designed to be a part of your everyday buying and selling activities, giving you piece of mind for your next swap or online purchase.
BONDSWAP (BSWAP)Similar to Binance OTC Trading Portal but directly on-chain and can be sent via any chat app using different blockchains
Wallet to Wallet trustless Over the Counter (OTC) trades that are performed by signing a smart contract. Completely portable smart link can be sent via a chat app or on your favorite social media. It will first support all ERC-20 tokens and NFT (Ethereum) then eventually
With BSWAP you can:
BOND DEXSimilar to Mooniswap but includes rewards token provided to Liquidity Providers on top of fee share
Interoperable Decentralized Exchange (DEX) thats easy to use and blockchain agnostic. Requires liquidity provider (LP) participants to pool assets for a portion of transaction fees along with rewards APY rewards. Our pricing engine will compare major cross chain swap options and will let you know the best one to use (even if its not us). Validation is done directly within your Web3 browser (with Metamask) or polkadot.js based Native Wallet.
With BOND DEX you can:
BOND PROTECT (BPROTECT)Similar to Paypal/AliPay Express Buyer Protection combined with Escrow.com with a simple UX like Zapper.fi or Zircon
This is our most revolutionary product that we feel will have the largest impact to the eCommerce market.
PROTECT is decentralized escrow and buyer protection for customers of crypto friendly marketplaces.
How does BOND PROTECT work?For individual OTC Trades:
Bonding with PolkadotAs our ‘sibling’ projects Darwinia and Bifrost have realized, Polkadot and using Substrate represents a phenomenal step forward in interoperability.
In a future article we will talk more about our Kusama testnet release.
Whats next for BONDLY?BONDSWAP for Ethereum, the first formal product release, will be available soon (so hold off on your OTC transaction until then). This will include support for the Bondly staking program. Detailed roadmaps for the other products will be announced soon!
In the meantime we will be making additional articles (but not limited to) the following topics:
submitted by sidhujag to ethereum [link] [comments]
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
SolutionsSyscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Syscoin + Matic IntegrationMatic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Proving Performance & Cost SavingsOur POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.
Cost SavingsTotal cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools, Infrastructure & Documentation
Syscoin BridgeMainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
APITools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
DocumentationSyscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence
Trade-offThe Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
CostEthereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Z-DAGZero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
APISyscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.
DocumentationZ-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana
Trade-offZ-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin SpecsSyscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
WalletsWeb3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
ExplorersMainnet: https://sys1.bcfn.ca (Blockbook)
Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!
submitted by tkeycoin to Tkeycoin_Official [link] [comments]
“The TkeyNet development team is surprising to us” — recently such a quote came from our lips. Why would that be?
TkeyNet: Instant transactionsNow transactions in the TkeyNet network are instant. You won’t even notice how the TKEY delivers to the recipient. For example, when you send a payment from card to card, and after a few seconds, the money is in the recipient’s possession. Despite the fast speed of transactions, the system has not only preserved its security properties but also strengthened them and still works on the blockchain.
“The chain of information a store on every computer in the network. The addition of information occurs by using cryptographic functions, allowing you to identify the information for any period. When a new data block adds to the TkeyNet network, the integrity of all previous information confirm by the entire TkeyNet, and each node checks its integrity.”
In early September, we completed work on one of the main functions of the system: “The Financial Module Of The Marketplace.”
What is it for, and how does the “Financial Marketplace module” work?TkeyNet combines various assets in a single system, creating instant access to liquidity. Digital exchanges connect to TkeyNet and provide assets for exchange: BTC, USDT, ETH, and others. For example, Kraken connects to TkeyNet and provides digital assets: ETH, ETC. Binance: USD, BTC. Bitfinex: USDT, EOS, etc. Exchanges can provide any assets that trade on their platforms.
The blockchain acts as a Registrar of financial transactions. Accounts, balances, and orders store in a distributed registry TkeyNet, and copies of data to distribute across network TkeyNet nodes. Payment routing is implemented in the TkeyNet system, which allows you to track not only balances but also distribute transactions without the participation of any party.
The user, in turn, has quick access to transactions with digital currencies, regardless of the blockchain used: Bitcoin, Ethereum, EOS, or any other, transactions are recorded in TkeyNet, and transactions are processed instantly.
“The task of the platform is to automate the interaction of the parties and ensure the convenience of performing operations. — This is the core element of a trusted environment.”In addition to digital assets, the “Financial Marketplace module” includes working with Fiat currencies, stocks, bonds, as well as raw materials: oil, gas, diamonds, etc. — This means that payment systems, banks, currency exchanges, commodity exchanges, and other financial market participants, are also connected to the TkeyNet blockchain.
Payments between companies in a few secondshttps://preview.redd.it/v84fizszvdp51.png?width=1920&format=png&auto=webp&s=e501b06661b2a960fe75abe07a1aba5177db620d
Companies can make payments in seconds, not days. TkeyNet can seriously mitigate the adverse risks of extraterritorial sanctions against the financial system of the countries if such follow. Also, the ability to conduct internal and cross-border transfers through an independent financial channel directly to the counterparty at high-speed is beneficial to business and the state from any point of view.
Each user will be able to make quick transfers to counterparty wallets, exchange digital currency for another or fiat money at the current exchange rate.
What else is interesting? — ApplicationsDevelopers can connect to TkeyNet and get access to a large-scale pool of liquidity: digital currencies, stocks, precious metals, etc.
This solution not only reduces development costs but also allows you to get access to the best prices and fast exchanges. You can create any financial application, regardless of the market usage: a cryptocurrency, or financial markets.
Developers can create a digital Bank or exchange, fast connect the app, and TkeyNet using the API.
“By working with partners around the world, we can significantly increase our market share in this business, providing our partners with ready-made tools without risks.”And also regardless of the applications that will be created by partner developers. The company will provide its interfaces that will provide access to various types of assets — digital currencies: BTC, USDT, ETH, etc.; Fiat currencies: euros, dollars, pounds, etc.; securities and commodity assets.
Anywhere in the world, at any time, the system user will have access to the desired currency without having to exchange one for another. Also, when implementing the application for NFC payments, it will become even easier to use the system. However, even with the availability of several types of currencies, such as the pound, dollar, and euro, it is easy to make payments abroad.
“According to the World Bank, more than 1.7 billion adults are still not covered by banking services, but two-thirds of them have a mobile phone that can help them access financial services. — This tells us one thing: the traditional banking approach is exceptionally inefficient. Lack of infrastructure: a network of ATMs, fees and deposits, a network of cashiers, and internal money transfer programs are just some named obstacles to creating a real banking experience.”Imagine that in one app you have access to Apple shares, Tesla shares, gold, precious metals, rubles, dollars, and even oil if you want. TkeyNet — makes this possible.
TkeyNet is an industrial solution designed for companies and users at the same time. Since payments in the system are very fast, a person can store and send money in any asset they want. This flexibility creates an open market, which is necessary at present.
PostscriptTkeyNet back-end — completed. Currently, we are actively working on the front-end side. Regardless of working on the front-end side, the TkeyNet system is tested on an ongoing basis.
submitted by alexngn201 to Tomochain [link] [comments]
Hi everyone. Pleased to be here! Thank you for taking your time to join me.
I’m the Chief Business Development Officer for TomoChain.
Educationally I graduated university with degrees in both Industrial Engineering and Economics from Georgia Tech, and later earned an MBA from the Wharton School of Business.
I grew up as a gaming addict and have a video game collection that is a bit unwieldy. Dozens of consoles and, at one point, over 13 classic arcade machines.
So, before crypto, I spent much of my profession in the gaming space. I was a Game Designer, Game Producer, and eventually Studio Head for a major games studio that was recently purchased by Rockstar Games. I have run my own game-related tech businesses as well.
I fell into crypto back in 2014, and over time it became a second passion of mine as I began to truly understand the value of decentralization. True ownership of data was not possible until Bitcoin came along and that is simply a powerful and game-changing message to a world structure built on an opposing foundation.
TomoChain is a Public Blockchain powered by Proof-of-Stake Voting. TomoChain launched into Mainnet 1 year ago in December 2018. It is secured by 150 Masternodes, of which I’m proud to be an operator myself. TomoChain is EVM Compatible and runs at a speedy 2000 TPS with a 2 Sec Blocktime. Gas fees are almost zero too.
Based out of Vietnam, TomoChain is Southeast Asia’s largest public blockchain. We are focusing on developing a full suite of DeFi products. We also have commercial and enterprise clients. TomoChain has a number of major crypto-partnerships including notables like Neo Blockchain, Chainlink and Crypto.com. Our Masternode network is run by some of the most recognizable players in the space as well, including Neo Global Capital, CoinGecko, HashQuark, KuCoin, and more large players are on the way.
TomoChain earned its place onto Binance.com with a fee-free listing last year by winning the BinanceDEX community vote in August 2019. Binance has written us up in a detailed Binance Research Report and awarded us the V-Label. We have also been in a number of their reports, including those related to Dapps and DeFi. We have been interviewed by Forbes.com official and had an in-person interview at NASDAQ, in the heart of Times Square, about TomoChain and our upcoming TomoX Protocol.
In China, specifically, we have been integrated into and have solid relationships with various blockchain players including HashQuark, HashKey, CoboWallet, Conflux, and many others. We launched an Ecosystem Development partnership with Neo Blockchain last December and co-hosted a meetup + workshop with them as well.
GEARED FOR REAL WORLD USE
Now, let’s talk about how TomoChain has been built for real-world use.
We’re looking at Payments & DeFi as low hanging fruit when it comes to user adoption and TomoChain is developing a suite of tools to support this. The biggest challenge for having users benefit from Blockchain on a day-to-day basis is how much friction is involved to acquire, store and use it. Even stable coins are dual currency systems. The Stablecoin and then the Native Token to pay gas fees. Blockchain is simply not user-friendly.
Our view is that the true solution for Blockchain adoption by the world is end-users shouldn’t need to know they are using blockchain technology at all. It should be a hidden technology layer, similar to payment processor settlements or even the internet distribution centers/routers that power this very AMA we’re all participating in right now. Do we need to know the underlying technology infrastructure to use them? Nope.
We are developing a system to hide this friction, so the TomoChain blockchain can be integrated into real-world applications that you use every day on mobile or web.
There are 3 protocols that we are building to enable this future: (1) TomoZ: Zero Friction (2) TomoX: The DEX Protocol (3) TomoP: The Privacy Suite.
TomoZ: Zero Friction - Our TomoZ protocol is a core starting point to the solution for mass market use of blockchain technology. TomoZ: Zero Friction allows for token issuance and use by having gas fees paid by the token itself. That means you don’t need TOMO to send transactions. You don’t even need to know you’re using the TomoChain blockchain.
So you could buy a cup of coffee at a café using loyalty points that are TomoZ tokens. The customers redeem for their coffee or earn it, but they don’t even have to know it’s a blockchain token which they actually own.
This approach is structured to enable the next million-plus users to utilize blockchain as a technology layer. After all, the real value of any Blockchain is in its utilization of high-quality transactions.
Now, TomoZ transactions aren’t FREE. It actually does use TOMO, but that’s hidden from the end-user. The way it works is that the token issuer deposits a small amount of TOMO into a pool. Every time the token is sent, TOMO is taken from this pool to pay the Masternodes.
The key is that the end-user doesn’t need to get involved with internal workings, which is why we call it the Zero Friction protocol
Now let’s talk about TomoX: The DEX Protocol
TomoX is an upcoming DEX Protocol that allows anyone to launch their on permissionless Decentralized Exchange in minutes. It requires very little technical knowledge making it a near turn-key solution.
TomoX is the fastest DEX experience since it’s a Layer 1 protocol. This means it’s run and secured by the entire TomoChain network. Our Masternodes manage the DEX instructions directly, rather than other DEXs that operate as a Layer 2 protocol. What this means is TomoX DEXs will operate at about 50x faster than a typical 0x exchange. That significantly improves the end-user experience.
TomoX DEX operators have access to a shared liquidity pool across all DEXs. That means a user buying on one DEX can be matched with a user selling on another DEX. Of course, Operators can customize and choose which tokens to include.
TomoX is fully decentralized since the Order Book is on-chain. Many other semi-decentralized exchanges store the OB on a centralized service in order to speed up the execution. That means there is a centralized point of weakness for them. TomoX minimizes custody and security challenges that centralized exchanges have too since all users are always in possession of their assets.
TomoX is currently in testnet and you can checkout TomoChain’s own DEX, aptly called TomoDEX, here: https://dex.testnet.tomochain.com/
Here is a link to get some free Testnet TOMO that can be used on the testnet version of TomoDEX: https://faucet.testnet.tomochain.com/
And finally, there is TomoP: Privacy Suite - TomoP is currently in testnet and is going to be the FASTEST way to send tokens privately. 2-4 seconds fast!
Any token issued on TomoChain will be able to utilize TomoP to send privately and anonymously. And that’s not all. We are including access to wrapped BTC, ETH, USDT, and other tokens that can also utilize the blazing speed and privacy that TomoP will offer.
Dapp privacy is a major part of TomoP. It is going to allow for the creation of Dapps to be built to handle customer data with true privacy, including from the Dapp operators themselves. This can jumpstart a new wave of applications geared towards hiding user information, transactions, assets owned, etc.
We are issuing a new token standard (TRC21p) which will be purely private. The only data available will be on its token supply. Token issuers can optionally provide auditing access to enforcement authorities to meet regulatory compliance. What this means is if the next Global PayPal/Skrill/Alipay competitor can build their service right on TomoChain and meet the most basic criteria required to stay above board in many jurisdictions.
If you guys want to check TomoP on testnet go here and login: https://wallet.testnet.tomochain.com/
Get some free Testnet TOMO that can be used with the TomoP testnet: https://faucet.testnet.tomochain.com/
Questions from the host
1. It’s been stated that TomoChain was on track to be a cash flow positive business, is it currently cash flow positive? What services or products is it offering to bring in this revenue?
Yes, absolutely. Our plan is to be cash flow positive this year. This really goes back to the level of experience our executive team has. Everyone is seasoned, having come from different fields, in big business and startups. Before the crazy boom of ICOs and IEOs, raising funding for traditional startups required considerable proof that there was market fit, that there were actual customers to drive revenue, and a model for growth.
We knew that TomoChain’s funds raised during the ICO were for a space that has yet to prove itself so the company had to be smart in budgeting for an uncertain future. And part of that initial preparation was selling much of the ICO proceeds into fiat. Something MANY blockchain startups did not do, largely due to ambitious teams that are also headed by very inexperienced leaders. So while the bubble burst, we had capital to continue operations and to even scale it.
And, we ARE running a business. A sustainable business requires us to identifying areas to generate income in order to minimize risk and to sustain the business in the long term. So we do both consulting and services work by helping clients to develop wallets, launch tokens (Orbyt), build exchanges (AIS), and of course enterprise solutions on the blockchain of which we have clients based out of Japan and in the Middle East using blockchain for traceability solutions across various industries from automotive, healthcare, and food.
2. What is the most strategical step TOMO is doing to bring adoption of TOMO coin to our daily lives?
Empowering businesses with a truly scalable blockchain that can be used by thousands and millions of users. We see user adoption of blockchain coming from businesses that base their solutions on blockchain technology. And, TomoChain has a number of real income-generating companies that have built on us, from exchanges to payment services to enterprise clients. Not bad for 1 year I say, especially during a stagnant market. Here are some examples.
UcarPac – A Top 10 User Car company in Japan is building traceability solutions on the blockchain. We completed a POC at the end of last year. After the assessment, the client decided it was solid and commissioned Phase 2 to expand the development of the project for commercialization purposes
Triip Protocol – Triip is a destination service for travelers to book vacations powered by Blockchain. Triip is a Shark Tank Vietnam alumnus, and the first ICO on TomoChain. Users can book tours and staycations using Triip or TOMO tokens.
WisePass – A service that sells subscription services to get discounted Starbucks, Singha Beer, and even makeup (of all things) integrated TomoChain as a payment solution
“Undisclosed Vendor” – Soon to be announced, a large player in the corporate gift giving business is also launching a Dapp on TomoChain to allow for them to make purchases with TOMO across thousands of items.
Maka - A peer-to-peer marketplace to conveniently buy/sell TOMO and other blockchain tokens using standard payment gateways, including e-wallets and bank transfers.
Coin98 – A local Vietnam crypto media company launched an App to allow for their community to earn their TomoChain token called C98 and use it for products and services geared around investors and gamers. The reception has been HUGE. 95,000 users and generating 500K+ transactions on our blockchain within 3 months of their launch! They are proving that innovative new business models can be adopted relying on and being blockchain specific.
3. Do you have any plans to collaborate with developers or attract more Dapps built on TomoChain?
We are today. Our founders run the largest Blockchain Developer community in Vietnam and we work with a number of them to help develop solutions on the blockchain.
Our team has held Hackathons a few times over the last couple years and we have done developer workshops too, including one with Neo Blockchain. And this year we are working closely with educational institutions to launch blockchain courses in Vietnam.
Every Dapp developer we work with is a partner. We try to provide as much support as possible, both technical and marketing. A number of Dapps are games on TomoChain and we hold contests regularly to promote the developers and their titles.
Since we are focusing on alleviating the friction of blockchain technology, we are building out an API that will make it even easier for developers to integrate blockchain into standard applications. This is intended to allow standard non-blockchain application developers to operate in an environment they are accustomed to while also having the benefit of blockchain technology accessible.
Onboarding more developers will take time. However, I’m confident we’re on the cusp of something wonderful in the coming years that will change the relationship between users and applications enabled by blockchain. Entirely new economic structures can be set up since it’ll be the users owning all of their data for the first time in digital history. And true ownership is a powerful motivator that can be harnessed by innovative blockchain businesses.
Hiya folks! With this update we will finally be 100% caught up with the latest. Let’s go! Here’s your week at Parachute + partners (21 Feb - 27 Feb'20):submitted by abhijoysarkar to ParachuteToken [link] [comments]
As mentioned 2 weeks back, Alexis announced the start of a new style of raffle from this week. 300k $PAR in the pot to be won! Bose hosted a Friday Quiz in TTR on movies with a 10k $PAR prize pool. Cap shared a unique bit of trivia from the tipbotverse: ChangeTip, a bitcoin tipbot launched 7 years back, was acquired by Airbnb in 2016 that led to its closure. A crypto pioneer that was way ahead of its time. The usual suspects continue to be on top of the Fantasy Premier Leagure (#FPL) leaderboard – LordHades, Alexis and Novelcloud as per the latest update shared by LH. Alejandro hosted a gun-mode CoD game in the Parachute War Zone followed by a free-for-all for $PAR prizes. Tavo announced another CoD Battle Royale in the Parachute War Zone to be held next week. Afful’s TTR trivia was fun as always. Charlotte hosted another trivia in TTR as well for a 10k $PAR prize pool. Victor held one in TTR with another 10k $PAR pot as well. GamerBoy’s trivia in TTR this week was based on Kindergarten Geography. Haha! Belated Birthday wishes to Victor. Two-for-Tuesdays by Gian for this week had the theme rap/reggae/reggaeton. Like last week, Sebastian set up a YouTube playlist to compile all the entries. For #wholesomewed, Parachuters put on their creative hats as they made some epic artwork based on a primary shape shared by Jason. So much talent! There’s $PAR to be won! In the latest project update shared by Cap, ParJar is in final stages of testing with Transak, ParJar integrated coin-swaps are being worked on at the moment and $PAR-based Dex to be launched in the coming weeks in partnership with Switch. Jason launched a new event for Thursdays called #discussionThursday from this week. The first discussion series revolved around "something you don't understand". The goal is "hopefully someone that does understand it can explain it". Good conversations and altruism gets $PAR tips. TTR crew hosted a fun “guess the admin” contest based on the Parachute Christmas artwork.
Happy Carnival to you too Rene
Just a sampling from all the #wholesomewed entries
20k $AXPR was burned as part of the weekly aXpire burn event. aXpire COO Matthew Markham wrote about how technological differentiators give PEs an edge over public markets. The latest Bilr blog post talks about disruptive technologies in the legal industry. 2gether CEO Ramon Ferraz appeared in an IEB podcast to talk about Neobanks. YouTuber FunOntheRide’s latest video covers collaborative economy and how 2gether plays a role in it. Head of Marketing, Laura Braulio explained must-do’s in marketing strategies for fintechs in her article which was published on ClickZ. The XIO DApp went into the final stages of unit testing this week. Beta tests should start soon. For #XIOSocial chatter, Citizens discussed the semantics of the term “crowdstaking”. Ethos’ parent company Voyager released the full Android version of its app this week. Switch-backed McAfeeDex is slated for some updates soon. Read about what’s coming up from John McAfee’s tweet. Plus, a new privacy coin “ghost” is on the horizon. $ESH holders are expected to get a taste of it on launch. For the latest update on Switch, click here. Fantom’s $FTM was one of the winners of a public vote to get listed on ZelCore. As an update to the fantom.rocks tool released last week by GoFantom (a Fantom validator), this week a dApp named Supercharge was released on top of it. Supercharge allows users to send 20 test transactions to demonstrate the speed of consensus. The DAO Maker shared a compilation of Fantom’s 2019 updates. For the 2020 project plan, click here. This was followed by a detailed 2020 roadmap. Too long? No sweat! This graphical representation of the roadmap by Generation Crypto is here to rescue you. Or, if you would rather watch a video, CMO Michael Chen made one. For notes, click here. The first version of Uptrennd’s mobile redesign is here. Congratulations to TREOS for winning the Round 1 of the Uptrennd free advertising package contest that launched last week. Voting for Round 2 started this week with Fantom included in this round. Banano ended up winning the second round and going head to head with TREOS in the finals. The first 2UP Tuesday kicked off this week with every upvote counting for twice the normal points (with the same rules applying for downvotes). Sweet! Uptrennd founder Jeff Kirdeikis was invited to speak at the EntrepreneurShip cruise event. Don’t forget the epic giveaway mentioned.
First sneak peek of Uptrennd’s new mobile design
Catch up on Distric0x’s Weekly update here. If you missed the DappDigest, the crew’s got your back. Their video walkthrough of ETHDenver covers snippets from the event along with Brady’s on-stage performance and an interview of Dmitry Buterin (Vitalik Buterin’s father). Read about how the recent fintech M&A deals will influence markets in this article by Hydrogen. The team sat down for an AMA with Crypto Cabital this week and also hosted a 150k $HYDRO giveaway. Fintech nerds, check out Hydro’s explainer blog post on open banking and WSO2. Is the project ticking off its roadmap items on time? Click here to find out. As a 2020 cohort member of the MassChallenge Fintech accelerator, Hydro’s Senior Director for Strategic Partnerships, Ken Kavanaugh travelled to Boston to talk about “platformication in fintech” at their meetup. If you are attending the Milwaukee Blockchain Conference in March, don’t forget to say Hi to Biz Dev Lead Mark Anstead where he will be a featured speaker. If you haven’t booked your tickets yet, there’s a 50% discount coupon available for you. $HYDRO got listed on DeFi aggregator Totle this week. How does Sentivate aim to solve HTTP / TCP bottlenecks? Click here to find out. For a primer on UDSP, click here. The Mycro Hunter landing page went live this week. OST’s Pepo is the official community app and partner of Europe-based Ethereum Community Conference (EthCC) where it will also be collaborating with Epicenter podcast for the event. The first browser version of Pepo was released. Crypto exchange Mine Digital will be joining SelfKey’s exchange marketplace. SelfKey’s R&D team shared a 2020 update on the identity management space and how the project aims to place itself in this segment.
Early preview of the SelfKey Mobile Wallet to be submitted to App Store for review
For the latest Constellation community update, click here. Don’t forget to send in your questions for the AMA happening next week. Attendees of VeneCoiners meetup in Argentina next week, don’t forget to say Hi to the crew from Wibson who will be presenting the Rewards Marketplace at the event. The team also published a paper on “WibsonTree” which preserves data privacy when interacting with an agent. They hosted an Ethereum meetup this week to discuss DeFi. Here’s a video demo of how fast the Harmony mainnet is. The weekly #pow tweet thread summarises updates from across the team. KuCoin’s $ONE token swap is now complete. A new page was launched to monitor mainnet and testnet status. The crew attended a Binance meetup in Ukraine to talk about latest project updates. Harmony announced a partnership with IBC Media to incubate and accelerate Indian fintech startups. Safe Haven’s digital inheritance solution, Inheriti, will be available on the Harmony chain. $ONE was listed on MathWallet. Intellishare co-founder Nicholas Wan shared a sneak peek of the testnet mobile UI. dGen listed GET Protocol’s GUTS Tickets as one of the notable startups in the Dutch blockchain space in their Blockchain in Europe 2020 Review report. For a project overview click here – nicely summarised by Generation Crypto. GUTS will be ticketing 3 new shows of Chef’Special. Global Crypto Alliance live streamed another demo of its IoT prototype smartlock device being operated through $CALL tokens. The team also hosted a fun quiz on their Telegram this week. YouTuber Crypto Rich interviewed the crew on all things $CALL (Part I, Part II). Nik Patel’s detailed research report on COTI was published this week. $COTI was added to the Staking Rewards platform. And here’s a biggie, Binance listed both the ERC20 and BEP2 versions of the token this week with a bonus airdrop for deposits. Woot! Before the listing frenzy started, the team took a moment to take stock of the situation. A big listing like Binance leads to a lot of new eyeballs that could trigger scams. COTI crew shared their anti-scam guide for this reason. DOMSCRYPTO covered the project in their latest video. DoYourTip was covered in an iHODL news feature.
And with that, we close for this week at Parachute. See you again with another update. Ciao!
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