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Blockchain Ecosystem - ENG
Transcript of Blockchain Ecosystem - ENG
“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.” - Buckminster Fullere
Assets legitimacy record
European Bank http://www.coindesk.com/european-central-bank-bitcoin-shouldnt-ignored-dismissed/
European Banks Authority: http://www.coindesk.com/eba-financial-institutions-avoid-bitcoin-pending-regulation/
Italy > http://www.coindesk.com/italian-central-bank-no-aml-requirement-bitcoin-exchanges/
Gives incentive to those who support Folding@home (give processing power to fold proteines). Uses Counterparty and Bitcoin.
Tiene su propia moneda.
AMP. Esto sirve para que sea usado
para hacer difusión dentro de la red.
Almacenamiento distribuido en una
Registroe certificaciones de documentos
respaldados con una transacción en la Blockchain.
Tiene su propia moneda, Factoids, pero es de uso interno.
Basado en el protocolo bitcoin.
El tiempo de prosamiento es de 2.5 min y existirán
84 millones de litecoins. Se utiliza script para el minado
Use any cryptocurrency to pay on any website that accepts any cryptocurrency.
Shows all wallets bitcoins in one place . Only allows you to see the states. Does not save private keys.
Introducing transparency to supply chains
Use a private blockchain that connects to the Bitcoin blockchain as certain milestones are confirmed in the bitcoin blockchain. They started with the pharmaceutical industry and are starting to use it also for the jewelry business, diamonds and electronics. They expect to launch soon.
Internet of things
Descentralized Trust Network!
The bitcoin network is a resilient network of simple nodes following simple rules that together can do amazing things without any central coordination.
Users of bitcoin own keys that allow them to prove ownership of transactions in the bitcoin network, unlocking the value to spend it and transfer it to a new recipient.
As a developer, I see bitcoin as akin to the Internet of money, a network for propagating value and securing the ownership of digital assets via distributed compu‐ tation.
Two basic questions for anyone accepting digital money are:
1. Can I trust the money is authentic and not counterfeit?
2. Can I be sure that no one else can claim that this money belongs to them and not me? (Aka the “double-spend” problem.)
Bitcoin represents the culmination of decades of research in cryptography and distributed systems and includes four key innovations brought together in a unique and powerful combination. Bitcoin consists of:
• A decentralized peer-to-peer network (the bitcoin protocol)
• A public transaction ledger (the blockchain)
• A decentralized mathematical and deterministic currency issuance (distributed mining)
• A decentralized transaction verification system (transaction script)
The key innovation was to use a distributed computation system (called a “proof-of-work” algorithm) to conduct a global “election” every 10 minutes, allowing the decentralized network to arrive at consensus about the state of transactions. This elegantly solves the issue of double-spend
Is also a practical solution to a previously unsolved prob‐lem in distributed computing, known as the “Byzantine Generals’ Problem.” Briefly, the problem consists of trying to agree on a course of action by exchanging information over an unreliable and potentially compromised network.
It can be used to achieve consensus on decentralized networks to prove the fairness of elections, lotteries, asset registries, digital notarization, and more.
Problem 1: Digital Currencies > "Double-spend"
Problem 2: Distributed computing > "Gral Byzantino"
Creating the Outputs
A transaction output is created in the form of a script that creates an encumbrance on the value and can only be redeemed by the introduction of a solution to the script. In simpler terms, Alice’s transaction output will contain a script that says something like, “This output is payable to whoever can present a signature from the key corresponding to Bob’s public address.” Because only Bob has the wallet with the keys corresponding to that address, only Bob’s wallet can present such a signature to redeem this output. Alice will therefore “encumber” the output value with a demand for a signature from Bob.
Transactions move value from transaction inputs to transaction out‐ puts. An input is where the coin value is coming from, usually a previous transaction’s output. A transaction output assigns a new owner to the value by associating it with a key. The destination key is called an encumbrance. It imposes a requirement for a signature for the funds to be redeemed in future transactions. Outputs from one transaction can be used as inputs in a new transaction, thus creating a chain of ownership as the value is moved from address to address
A smart-contract platform that incorporates a Turing Complete Virtual Machine to Bitcoin. It also provides other enhancement to the network such as faster transactions and better scalability, features that will enable new usage scenarios.
It achieves currently 300 tps and confirms most payments in less than 20 seconds. And yet, is still based on the same security guarantees Bitcoin has, supporting SHA-256D merged mining.
There is no currency issuance: all RTC are created from Bitcoins coming from the Bitcoin blockchain.
Built on top Bitcoin Blockchain. Brings the best from Bitcoin and Ethereum.
Use 2-way peg with Bitcoin Blockchain.
This is good for Bitcoin. There is no debate on adding value to Bitcoin.
Smart contract platform on top Bitcoin.
Has 10 second between block. Faster than Bitcoin.
White Paper > https://goo.gl/ACjYpk
Nick Szabo > http://szabo.best.vwh.net/
Currency > Rootcoins [RTC]
Ethereum is a smart computing platform that uses the blockchain. The worlds first descentralized computer.
Is a cryptocurency with a built-in programming language
Its a computer with this properties:
- Truly Global Singleton (One computer for the entire planet now and forever) Not located in a particular part of the world.
- Cannot Fail, be Stopped, be Censored (No authority, government or corporation behind it, resistant to attack
- Ubitous (where ever there´s internet theres, Ethereum
- Natively Multi-user (has as many accounts as is needed)
- Natively Object-Oriented (Encapsulation enforced in "virtual silicon")
- Verifyable & Auditable (all code honoroured now and forever)
Guarantees on running on this computer
- Atomicity (Entire Operation runs or nothing does)- No middle stop. No need to safeguard to roll back things.
- Synchrony (No two operations can interfere with each other)
- Provenance (All messages (method calls) can be inspected to determine caller address) Check from where the message comes from (find who sent it).
- Permanence (Object´s data are permanent)
- Inmortality (Object can NEVER be externally deleted - can oly voluntarily commit suicide)
- Immutability (Object´s code can never be changed)
Descentralize All The Things
(ETHEREUM BLOCKCHAIN AS A SERVICE)
ConcenSys + Azure (Microsoft)
Open Trade Docs > http://otdocs.com/
SkuChain > http://www.skuchain.com/
MIT Open Platform > https://goo.gl/MIS0QT / http://learn.media.mit.edu/digital-certificates
Interesting Fraud Case at MIT > http://goo.gl/Lrb6Q2
NASDAQ > http://goo.gl/lF4suW
1) Lower costs
2) Increase speed (capital requirements will drop)
3) Lower risks of cyber attack
4) Less errors
Source: Video https://goo.gl/egHlC3
Payment channels between many parties in a multi-hop huband spoke model (similar to internet routing)
Minimally trusted intermediaries (they can´t take your coins) - No custodian needed.
With a malleability fix via a soft-fork, Bitcoin can scale to billions of transactions per day
Uses Hash-locked contracts so the entities updates the balances on theirs channels.
Allows two people to send transactions to each other without hitting the Bitcoin Blockchain.
Source Video: https://goo.gl/sQ6lXA
Slides > http://goo.gl/RPnaca
Summary > http://goo.gl/lEnPHK
157 Dapps listed (26-Feb-16) http://dapps.ethercasts.com/
Smart Devices to become Independent agents
A vending machine that can not only monitor and report its own stock, but can solicit bids from distributors and pay for the delivery of new items automatically
A suite of smart home appliances that can bid with one another for priority so that the laundry machine, dishwasher and robo-vacuum all run at an appropriate time while minimizing the cost of electricity against current grid prices
A vehicle that can diagnose, schedule and pay for its own maintenance.
Blockchain networks themselves also have the potential to become independent agents
Distributed Autonomous Corporations
These would supplant systems like banking and arbitration, which have traditionally relied on trusted and centralized human authorities, with trustless and decentralized networks. Examples include electronic couriers to securely transfer sensitive information, escrow services to transfer ownership rights, or even auto-installation services to verify and push updates to the software governing other DACs.
IBM + SAMSUNG > http://goo.gl/XTcpL8
Symbiont is bridging the gap between the emerging blockchain ecosystem and Wall Street, with the first issuance and trading platform for Smart Securities™
Private Equity and Crowdfunding
http://symbiont.io/ (not bitcoin)
Syndicated and Corporate Loans
http://symbiont.io/ (not bitcoin)
http://symbiont.io/ (not bitcoin)
187 Dapps listed (28-Mar-16)
Open Source Project
Analytics / BI
Smart Contract made simple.
Can create smart contracts with any language
A key feature of Corda on display, according to the news source, showcased how not all nodes shared the information on the ledger. This design mechanism has been pointed to as an efficiency for financial institutions when compared to public blockchains such as Ethereum and bitcoin in public remarks by R3.
ThingChain: Thingchain is a bitcoin inspired cryptosystem for non-fintech uses. Some example use cases are proof of provenance and possession of physical goods, authentication of the history of real world objects in the field, provisioning usage rights etc. Thingchain’s ledger is however, a separate blockchain from the Bitcoin blockchain. Delegated proof of work, delegated to a closed set of signatories is an adequate consensus model for users of the system to decide if they want to trust this log. Thingchain is not intended to support a cryptocurrency and this is reflected in the security model. (http://blog.thingchain.com/2015/05/01/thingchain-bitcoin-blockchain/)
Octopocket (Bot - Telegram)
Telebit (Bot - Telegram)
Echo (App) - http://my-echo.com/