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Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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Why i’m bullish on Zilliqa (long read)

Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analysed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralised and scalable in my opinion.
 
Below I post my analysis why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, secure and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in amount of nodes. More nodes = higher transaction throughput and increased decentralisation. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue disecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as:
“A peer-to-peer, append-only datastore that uses consensus to synchronise cryptographically-secure data”.
 
Next he states that: >“blockchains are fundamentally systems for managing valid state transitions”.* For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (>66%) double spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT etc. Another thing we haven’t looked at yet is the amount of decentralisation.
 
Decentralisation
 
Currently there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralised nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching their transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public.They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers.The 5% block rewards with an annual yield of 10.03% translates to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS & shard nodes and seed nodes becoming more decentralised too, Zilliqa qualifies for the label of decentralised in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. Faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time stamped so you’ll start right away with a platform introduction, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behaviour are different things and should be separated to ensure their clarity.”
 
Scilla is on the functional side and shares similarities with OCaml: > OCaml is a general purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognised by academics and won a so called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities safety is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa for Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue:
In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships  
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organisations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, AirBnB, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are build on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”*
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They dont just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities) also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiatives (correct me if I’m wrong though). This suggest in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures & Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

A Look at DCG & Bitfury's Incestuous Ties With the U.S. Government

Peter Todd Tweet in 2014: https://archive.is/vKZ9C
[email protected] I gotta say, looks really bad legally how Austin Hill's been negotiating deals w/ pools/etc. to get control of hashing power.
Board of Digital Currency Group
Glenn Hutchins
Advisory Board
Larry Summers
DCG of course is an investor in both Blockstream and BTCC.
DCG's money comes from:
DCG also owns Coindesk.
BTCC and Bitfury are the only two large mining pools who are outspoken in their support of Bitcoin Core.
The Bitfury Group Leadership to Present at Clinton Global Initiative (https://archive.is/MWKee)
Full Video (Begins at 32:00)
“The Bitfury Group is proud to be the world’s leading full service Blockchain technology company, we are deeply honored to represent this innovation to an audience of extremely dedicated game-changers, and we look forward to highlighting our company’s groundbreaking ‘Blockchain for global good’ work at such an important event, said Smith. “From the White House to the Blockchain, I know this technology has the power to deliver inclusion and opportunity to millions, if not billions, of people around the world and I am so grateful to work for a company focused on such a principled vision.”
Bitfury Lightning Implementation
  • In partnership with a French firm called ACINQ (http://acinq.co)
  • ACINQ is a subsidiary of the larger ACINQ Financial Services
  • CoinTelegraph: Bitfury Lightning Network Successfully Tested With French Bitcoin Company
  • TEAM: https://archive.is/Q5CNU
  • ACINQ’s US Headquarters is in Vienna, Virginia, a small town of only 16,000. Why would a global financial firm choose to locate here? -- Feeder community into Washington, D.C. Has an orange line metro stop. -- Located in Fairfax County, VA. -- The US Federal Government is the #2 largest employer -- Booz Allen Hamilton (NSA front company) is #6 largest employer -- In fact, most of the top employers in Fairfax County are either US Federal Gov’t or companies that provide services to Federal Government -- The county is home to the headquarters of intelligence agencies such as the Central Intelligence Agency, National Geospatial-Intelligence Agency, and National Reconnaissance Office, as well as the National Counterterrorism Center and Office of the Director of National Intelligence.
Chairman: Avinash Vashistha
CEO: Chaman Baid
CSO: Nandan Setlur
  • https://www.linkedin.com/in/nandansetlur https://archive.is/wp3L0
  • From 1986-1993 he worked for Information Management Consultants (imc) Ltd as a Technical Consultant with various federal government agencies. McLean, Virginia
  • 1993-2000 Technical Consultant for Freddie Mac, in McLean Virginia
  • From 2000-2007, President of InterPro Global in Maryland
  • From 2011-2012, Director of VibbleTV in Columbia, Maryland
  • From 2008-Present has been Executive Director at ACINQ and Managing Partner at Vine Management, both in Vienna, Virginia.
BitFury Enhances Its Advisory Board by Adding Former CFTC Chairman Dr. James Newsome and Renowned Global Thought Leader and President of the Institute for Liberty and Democracy Hernando de Soto (Businesswire)
Bitfury Board of Directors
Robert R Dykes
The other board members include two Bitfury founders, and an investor.
Bitfury Advisory Board
James Newsome
  • Ex-chairman of CFTC
  • Dr. Newsome was nominated by President Clinton and confirmed by the Senate to be at first a Commissioner and later a Chairman of CFTC. As Chairman, Newsome guided the regulation of the nation’s futures markets. Additionally, Newsome led the CFTC’s regulatory implementation of the Commodity Futures Modernization Act of 2000 (CFMA). He also served as one of four members of the President’s Working Group for Financial Markets, along with the Secretary of the Treasury and the Chairmen of the Federal Reserve and the SEC. In 2004, Newsome assumed the role of President and Chief Executive Officer of the New York Mercantile Exchange (NYMEX) where he managed daily operations of the largest physical derivatives exchange in the world. Dr. Newsome is presently a founding partner of Delta Strategy Group, a full-service government affairs firm based in Washington, DC.
Hernando de Soto
  • Hernando de Soto heads the Institute for Liberty and Democracy, named by The Economist one of the two most important think tanks in the world. In the last 30 years, he and his colleagues at the ILD have been involved in designing and implementing legal reform programs to empower the poor in Africa, Asia, Latin America, the Middle East, and former Soviet nations by granting them access to the same property and business rights that the majority of people in developed countries have through the institutions and tools needed to exercise those rights and freedoms. Mr. de Soto also co-chaired with former US Secretary of State Madeleine Albright the Commission on Legal Empowerment of the Poor, and currently serves as honorary co-chair on various boards and organizations, including the World Justice Project. He is the author of “The Other Path: the Economic Answer to Terrorism”, and his seminal work “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”
  • Frequent attendee at Davos World Economic Forum
  • Frequent Speaker @ Clinton Global Initiative http://www.dailymotion.com/video/x2ytfrs https://archive.is/MWKee
  • Criticisms: -- In his 'Planet of Slums'[104] Mike Davis argues that de Soto, who Davis calls 'the global guru of neo-liberal populism', is essentially promoting what the statist left in South America and India has always promoted—individual land titling. Davis argues that titling is the incorporation into the formal economy of cities, which benefits more wealthy squatters but is disastrous for poorer squatters, and especially tenants who simply cannot afford incorporation into the fully commodified formal economy. -- An article by Madeleine Bunting for The Guardian (UK) claimed that de Soto's suggestions would in some circumstances cause more harm than benefit, and referred to The Mystery of Capital as "an elaborate smokescreen" used to obscure the issue of the power of the globalized elite. She cited de Soto's employment history as evidence of his bias in favor of the powerful. https://www.theguardian.com/business/2000/sep/11/imf.comment http://www.slate.com/articles/news_and_politics/hey_wait_a_minute/2005/01/the_de_soto_delusion.html
Tomicah Tilleman
  • https://en.wikipedia.org/wiki/Tomicah_Tillemann
  • Dr. Tomicah Tillemann is Director of the Bretton Woods II initiative. The initiative brings together a variety of long-term investors, with the goal of committing 1% of their assets to social impact investment and using investments as leverage to encourage global good governance. Tillemann served at the U.S. State Department in 2010 as the Senior Advisor on Civil Society and Emerging Democracies to Secretary Hillary Clinton and Secretary John Kerry. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Tillemann received his B.A. magna cum laude from Yale University. He holds a Ph.D. with distinction from the School for Advanced International Studies at Johns Hopkins University (SAIS) where he also served as a graduate level instructor in American foreign policy. http://live.worldbank.org/node/8468 https://archive.is/raDHA
  • Secretary Clinton appointed Tomicah Tillemann, Ph.D. as the State Department’s Senior Advisor for Civil Society and Emerging Democracies in October 2010. He continues his service under Secretary Kerry.
  • Mr. Tillemann and his team operate like venture capitalists, identifying ideas that can strengthen new democracies and civil society, and then bring together the talent, technology and resources needed to translate promising concepts into successful diplomacy. He and his team have developed over 20 major initiatives on behalf of the President and Secretary of State.
  • Mr. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009 and collaborated with her on over 200 speeches. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Mr. Tillemann’s other professional experience includes work with the White House Office of Media Affairs and five U.S. Senate and Congressional campaigns. He was a reporter with Reuters New Media and hosted a commercial radio program in Denver, Colorado. http://m.state.gov/md160354.htm https://www.newamerica.org/our-people/tomicah-tillemann/ https://archive.is/u2yF0
  • Director of “Bretton Woods II” initiative at New America Foundation Bretton Woods was an international summit that led to the creation of the IMF and the IBRD, one of five members of The World Bank
Jamie Smith
Jason Weinstein
Paul Brody (no longer appears on site, and his LinkedIn has no mention of Bitfury, but he is mentioned in a Press Release
  • https://www.linkedin.com/in/pbrody
  • Ernst & Young since 2015 as “Americas Strategy Leader”, “Global Innovation Leader”, and “Solution Leader”
  • Prior to E&Y, he was an executive at IBM since 2002
New America Foundation
Muskoka Group
[note: this is worthy of much more research]
  • https://www.bloomberg.com/news/articles/2016-08-29/blockchain-s-backers-embark-on-campaign-to-improve-its-image
  • Don Tapscott, co-author of the book “Blockchain Revolution,” hosted the meeting with his son and co-author Alex Tapscott at his family’s summer compound in Lake of Bays, Ontario. The group included some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan. They considered ways to improve the governance and oversight of the technology behind the digital currency bitcoin as a way to fuel the industry’s growth. They included Jim Zemlin, executive director of the Linux Foundation; Brian Behlendorf, executive director of the Hyperledger Project, a blockchain supporter group that includes International Business Machines Corp., Airbus Group SE and JPMorgan Chase & Co.; and Ana Lopes, board member of the World Wide Web Foundation. Participants with blockchain industry ties include former deputy White House press secretary Jamie Smith, now chief global communications officer of BitFury Group Ltd., and Joseph Lubin, founder of startup Consensus Systems.
Blockchain Delegation Attends Democratic National Convention https://archive.is/k16Nu
Attendees:
Jamie Smith — The Bitfury Group & Blockchain Trust Accelerator Tomicah Tillemann— New America Foundation & Blockchain Trust Accelerator Alex Tapscott— co-author: Blockchain Revolution Brian Forde — MIT, Digital Currency Initiative
Brian Forde
  • Was the founding director of the MIT Digital Currency Initiative -Left his 4 year post as White House Senior Advisor for Mobile and Data Innovation to go directly to the MIT DCI
  • Brian Forde has spent more than a decade at the nexus of technology, entrepreneurship, and public policy. He is currently the Director of Digital Currency at the MIT Media Lab where he leads efforts to mainstream digital currencies like Bitcoin through research, and incubation of high-impact applications of the emerging technology. Most recently he was the Senior Advisor for Mobile and Data Innovation at the White House where he spearheaded efforts to leverage emerging technologies to address the President’s most critical national priorities. Prior to his work at the White House, Brian founded one of the largest phone companies in Nicaragua after serving as a business and technology volunteer in the Peace Corps. In recognition of his work, Brian was named a Young Global Leader by the World Economic Forum and one of the ten most influential people in bitcoin and blockchain. https://www.linkedin.com/in/brianforde https://archive.is/WjEGU
Alex Tapscott
World Economic Forum
  • Strategic Partners: https://www.weforum.org/about/strategic-partners
  • Includes Accenture (See Avinash Vashistha), Allianz, Deloitte (Scaling Bitcoin platinum sponsor, Blockstream Partner), Citigroup, Bain & Company (parent of Bain Capital, DCG investor), Dalian Wanda Group (working on blockchain technology), Ernst & Young (see Paul Brody), HSBC (Li-Ka Shing, Blockstream investor, used to be Deputy Chairman of HSBC), IBM, KPMG International, Mastercard (DCG Investor), PwC (Blockstream partner, also sponsor of Scaling Bitcoin)
  • Future of Financial Services Report [PDF] The word “blockchain” is mentioned once in this document, on page 23 (http://i.imgur.com/1SxyneJ.png): We have identified three major challenge areas related to innovation in financial services that will require multi-stakeholder collaboration to be addressed effectively. We are launching a project stream related to each area, with the goal of enabling tangible impact.... Decentralised systems, such as the blockchain protocol, threaten to disintermediate almost every process in financial services
  • The Steering Group who authored the report is a who’s who of the global financial elite. (Pages 4 & 5) http://i.imgur.com/fmYc1bO.png http://i.imgur.com/331FaX6.png
Bitfury Washington DC Office
Washington DC Office 600 Pennsylvania Avenue Suite 300 Washington, D.C. 20003
http://bitfury.com/contacts https://archive.is/ugvII
Bitfury Chosen for Ernst & Young Blockchain Startup Challenge
Deloitte Unveils Plan to Build Blockchain-Based Digital Bank http://www.consultancy.uk/news/12237/deloitte-unveils-plan-to-build-blockchain-based-digital-bank https://archive.is/UJ8Q5
submitted by 5zh8FoCiZ to btc [link] [comments]

Cryptocurrency Weekly Recap

submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

آلهة has been created

By Arthur G. Staples ON "THE INFLUENZY" DOC'S been here agen terday! Seem's ez ef he come ter say "How yer gettin' on terday?" lookin' at me where I lay. I ain't talkin' over much; ain't no need ter air my lore. Eyes a burning' where they be; ears a bustin' with a roar; mouth thet's like a shingle-mill; dry's the handle of a pump; back that's broke square in two bout four inches 'bove the rump! So I ain't so long on talk. Got no answer fer the doc! Doc don't seem ter mind me none; sets around a little bit; pulls a little dictaphone; lays it on my kroop- er-bone; makes me breathe and holler "A-a-ah"; breathe an' intake; breathe an' groan through the little dictaphone. Sez he after quite a spell. "Them Bolsheveeks is raisin' hell! D'ye think ol' Wilson's doin' well?" Take my tempertoor agen; thumps me on the abdo- men. "Think it's goin' ter snow agen?" But I don't want no casual chat. I don't call no doc, fer that. Got no call for Bolsheveeks, fer at least a couple er weeks! Don't keer ef it snows an' snows ef I could only blow my nose! I want facks! Right off'n the bat! I don't want no social chat! Ef I'm wusn't what I wus, what's the reason; what's the cause? What's the status of he case; tell te facks right to my face; lemme know the wust and best; is my innards all congessed; are there bones loose in my pate; is my backbone dislocate; ef I ain't got no tempertoor an' no disease fer sure, what in time's ther howdydoo ef 'taint the pip and 'tain't the flu? Doc he sets around a bit. "Man!" says he, "you're lookin' fit! Have you fightin' Dempsey yit." Then I looks Doc in the eye: "Tie the bull outside," says I. "Doc, I bleeve I'm goin' ter die. I'm dead now above my chin! Eyes and nose and ears and all! Ain't breathed reglar fer a week! Jints all movin' with a squeak. Every time I move my jaw, feel's ez though I'd broke the law. Doc," says I, "it's up ter you! Ef t'aint the pip and 'tain't the flu how yer goin' ter pull me through?" Doc he sets an' thinks erwhile; then he answers with a smile, "Ain't you the chap wrote a talk, couldn't eat and couldn't walk, waited fer the birds to sing, an' the comin' of the spring; wanted to loaf by a larfin stream, set an' fish an' fish an' dream, nuthin' but bees an' bugs an' things, thet live right where the wild stream sings. Maybe that ain't jest carreck, but sumthin' at least to that effeck." An' the doc he opens a bag he lugs. "What you need," sez he, "is a dose of bugs." An' sure enough I'm gettin' well; ain't felt so peart for quite a spell. Wuz over a billion bugs, they say, in the shot doc gimme the other day. Reely feel I'm comin' to; 'tain't the pip an' 'tain't the flu; but jest er case when all I need is sumthin' off'n the flowery mead, an' when you can't inject the Spring nor a dose of blue- bird on the wing, nor brooks that run, ner vi'lets blue ter cure the pip er cure the flu, why! the next best thing the doctor lugs is a shot of erbout a billion bugs. An' as they sort o' crawl eround, I can somehow feel I'm on the ground, with all the rest that my fancy hugs, the birds an' bees an' the billion bugs. 
from Jack in the Pulpit, by Arthur G. Staples Copyright, 1921, A. G. Staples Lewiston Journal Company, Lewiston, Maine; pp. 3 - 4
Make America make sense again, lest I cease to exist. Even in the absence of functional institutions of journalism and government, a responsive Executive Branch could bring the 9/11 terror system to heel. Please consider writing in a vote for MARLEY ENGVALL, for President of the United States of America.
https://www.paypal.com/pools/c/8lVTi6EIcF [anything helps. no amount too small. eternal thanks.]
https://www.courtlistener.com/docket/4357335/doe-v-trump/
ON "THE INFLUENZY" ON "BENDS IN RIVERS" ON "THE MARKS ON THE DOOR JAMB" ON "YOUTH" ON "PUMPS—ESPECIALLY CHAIN-PUMPS" ON "THANKSGIVING DAYS" ON "READING ALOUD" ON "OLD LADIES WITH SWEET FACES" ON "OLD TIME TORCHLIGHT PROCESSIONS" ON "MY AUNT'S MILLINERY SHOP" ON "A RIDE TO BATH" ON "THE QUALMS OF GOLF" ON "STILTS" ON "MY BEST UMBRELLA" ON "A SERMON ON THE SEED" ON "THE FIRST FROSTS" ON "AN OLD BASEBALL STORY" ON "YOUR FIRST TROUSERS" ON "THE SPECTRES IN OUR PATH" ON "CO-OPERATION AFTER A FASHION" ON "HAVING NOTHING TO DO" ON "SOME OLD NEWSPAPERS" ON "BACK TO THE OLD SCHOOL" ON "SPRING AND DAISIES" ON "PEONIES" ON "THE VALUE OF CHARACTER" ON "THE LITTLE VILLAGE" ON "A PERSONAL MATTER" ON "THE ETIQUETTE OF SWIMMIN'" ON "GOING BERRYING" ON "THE OLD PEDLER'S CART" ON "VAGABONDS" ON "MY FIRST JACKKNIFE" ON "THE OLD-TIME BREAKING OUT OF ROADS" ON "WHEN THE MINISTER CAME" ON "THE PUSSY-WILLOWS" ON "CARVING ONE'S FIRST TURKEY" ON "ABRAHAM AND LOT" ON "THE OLD BRICK OVEN" ON "A LITTLE BUCK-UP STORY" ON "NOAH" ON "THE ELM TREE" ON "HOW I TIRED OF FARMING" ON "THE SMELL OF A BRUSH FIRE" ON "GHOSTS AND SUCH" ON "CHURCH DINNERS" ON "THE CROWS IN THE SKY" ON "DRIVING HOME THE COW" ON "LAST DAYS OF SCHOOL" ON "OLD MAIDS" ON "CAMP-FIRES" ON "GOING TO THE MOVIES" ON "PRODIGIES" ON "CERTAIN NOISES" ON "GRAVES BY THE RIVER" ON "GRANDFATHER'S CLOCKS" ON "SOPSEY-VINES" ON "AN OLD NOTION OF WAR'S ENDING" ON "WHAT OUR FATHERS READ" ON "THE SLEEPING CHILD" ON "THE CAVERN OF THE SNAIL" ON "FALL PICKLING" ON "WOODLAND POOLS" ON "AMIABILITY AT HOME" ON "A WOMAN HANGING OUT THE CLOTHES" ON "THE CLAM" ON "SAND" ON "FORMING ONE'S PERSONALITY" ON "GRANNIE" ON "SHADOWS" ON "HELPING THE BOY" ON "THE LESSONS IN THE RAINBOW" ON "HAIR AND HEADS" ON "A TALK TO CHILDREN OF ALL AGES" ON "RACE SUICIDE" ON "CLEARING OFF AFTER STORMS" ON "REFORMING AS A BUSINESS" ON "RESOURCEFULNESS" ON "WOODCHUCKING" ON "HAVING THE LUMBAGO" ON "FACES WAITING AT THE WINDOW" ON "ADVICE TO REPORTERS" ON "EATING YEAST" ON "THE MAINE OF 100 YEARS" ON "SAP-BOILING TIME" ON "THE FIRST CROW" ON "GOING TO SUNDAY SCHOOL" ON "THE CHIMNEY CORNER" ON "SULPHURANDMOLASSES" ON "HAVING A SYSTEM" ON "AN OLD TEXT" ON "RIBBON GRASS" ON "MY ALARM CLOCK" ON "AUTUMN IN THE CELLAR" ON "RIDING IN SMOKING CARS" ON "COBWEBS"
սա ձեր տարածք. բարի եղեք միմյանց հանդեպ. https://old.reddit.com/thesee [♘] [♰] [☮]
submitted by MarleyEngvall to alihat [link] [comments]

On Proof: A Confession about Satoshi?

The monster paragraph below, which is titled "On Proof", was taken from a website/blog I found while searching for a paper authored by CSW. The site I found appears to be some sort of confessional-tell-all CV authored by CSW to prove his identify. The text doesn't prove anything about CSW's work in bitcoin if true, but its possibly relevant to his ability to design bitcoin, his overall genius, and credibility. I have no position on whether Craig Wright is Satoshi at the moment.
I have no information about whether the wall-o-text contains anything true, who runs the site I found, or what the site is exactly. However, the text-wall contains plenty of info about CSW that can be cross-checked with official records.
In addition to the text (the wall is his, not mine), I've provided a link to the site, taken and an imgur album of my screen-captures. Some of the pictures show the browser tabs I had open when they were taken for time-stamping purposes.
WARNING. There is a downloader thing on the site, and I'm not sure about the funky URL. Be careful if you do visit.
http://bvde.cba.pl/9178.html (Text below)
http://imgur.com/a/NCfdt
It seems that I have to do this every couple years and each time it is generally worse as I have added to the list. In recent months I have been causing trouble again and as such there are always those who choose not to believe me or to engage in an attack on my character as a solution to not addressing the issue at hand. Let us start with career and that I am the VP of GICSR in Australia. Other than using an email address at GICSR, I am listed on the board as a director. Next, I am a trustee with the Uniting Church Trust Fund and am otherwise involved with the UC. That is me on page two of the funds newsletter where I had been accepted in the appointment. I have shaved, but it is still me in the photo. My role at Charles Sturt University is noted below and I have staff ID 11293457 if you want to actually check that. On certifications. I hold the three platinum certifications GSE, GSE-Malware and GSE-Compliance from GIAC. I will add my SANS/GIAC certs. I have more than any other person globally (not a boast, it is a fact). This is 37 Certs from GIAC alone. Click the link if you do not believe me. The answer is not just to believe this, validate it. All up, with Cisco and others I have over 100 certifications. Now, do you really care if you believe the total? Not really, and does it matter, not really. Some of those will start to disappear as I cannot maintain them and actually have a life anymore. I have 27 recertification’s next year that I will do at a cost of over $11,000. I will let some lapse. Degrees and more I am not going to cover all of my degrees any more. I will not discuss more than post graduate and a list of the papers associated with my doctoral work and I will simply cover those related to my profession here. I will not discuss my role as a lay pastor or theology degree other than face to face and only whit those I choose to discuss it with. There is enough to know I am involved with the Uniting Church and I am not here to convert people. If you are an atheist, that is your choice and I will not try to sway you at all. The thing is, atheism is also a belief. It is not and cannot be proven with science and hence is in a way also a religion even if in the negative. I do not wish to debate this (unless it is face to face, I like you and there is wine involved). If you are not happy with my post graduate qualifications, adding undergraduate qualifications right down to the associate degree level will add little. Then, does my having an Associate degree in Science (Organic Chemistry, Fuel sciences) add anything to my role in digital forensics and information security. If you really want to know what these are, there are old posts that searching will eventually uncover. As for the bio and claim that I am “a perpetual student with numerous post graduate degrees including an LLM specializing in international commercial law and ecommerce law, a Masters Degree in mathematical statistics from Newcastle as well as working on his 4th IT focused Masters degree (Masters in System Development) from Charles Sturt University where he lectures subjects in a Masters degree in digital forensics. He is writing his second doctorate, a PhD on the quantification of information system risk at CSU.” Charles Sturt University The masters degrees from CSU are: MMgmt(IT) – Masters of Management (IT) MNSA – Master of Network and System Admin MInfoSysSec – Master of Master Information Systems Security MSysDev – Master of System Development (nearly complete… I am just running out of subjects to do at the University. I even needed to take one where I was the author of the text just to have the credit points). Next year I complete my second doctorate. I also have two other Masters degrees not from CSU (the 4 they note in the link are those listed above), a Masters in Statistics (Newcastle AU) as well as a Masters in Law (Northumbria, UK). I am also doing the SANS Masters degree and have one more thing to complete this. That will give me 2 doctorates, 7 masters degrees and 8 other degrees. It is not too difficult to check that I am enrolled in the MSISE at the SANS Technology Institute (Master of Information Systems Engineering). Other than having presentations on the site (see this link) it would be crazy for me to state this. I have 37 GIAC certifications (which is most of either of the STI masters degrees. If I was to misrepresent my status at SANS/GIAC, the ethics policy means I will lose them all. So, first it is simple to actually check AND I have too much to lose in lying. I do this every couple years. Here is a link to a past time I had to do the same. Northumbria University I completed a Masters in Law in a UK based University. This is: LLM Northumbria – Master of Law (International Commerce Law, Ecommerce Law with commendation). PG Diploma in Law My dissertation was on "Internet Intermediary Liability". I received a commendation. If you need to check, I had Student Number: 05024288 Newcastle University MSTAT – Master of Statistics I was student number 3047661 at the University of Newcastle here in Australia. My thesis that I wrote to complete this degree was on “The homogeneity of Variances”. I analysed and tested many of the common statistical methods used in homogeneity tests in statistics (such as the Levene tests). Why? The links are associated with universities and others, so it is not too difficult to check me out. I am not stopping you. The only thing I do not wish to discuss openly is my role with the Uniting Church. My theological belief is one of the few things that remains personal and more than the stuff the church posts publically about me (which I attempt to minimise) I will not discuss. If you believe that my trying to maintain one personal and private thing in my life means I am lying, believe as you will. It does not impact my chosen career in information security and nor does it detract from this. Contrary to the believe structure some hold, one CAN be a doctor of the church as well as a scientist. Religion and Science do not overlap and nor should one seek to make them do so. We can never prove nor disprove the existence of any religion or other spiritual belief structure. This is why I also preach tolerance. I believe I am correct as far as I can be (and that is about zero as the human mind is too small to comprehend the infinite in any extent and any person who tells you differently is a liar or a fool). I comprehend and believe in my way, others in their own. Is Islam, Catholicism, Judaism etc right? Yes and no. Am I right, yes and know. Basically, we see a small aspect of the infinite and that is all we ever will. We can be right and wrong at the same time and will never be completely right as we cannot hold the concept of an infinite in our heads (and I have studied large number theory). In a way, I hate having to do this each few years. In this, I have scratched the surface of what I have done and that leaves many in disbelief. That stated, I fail in humility for this as well as other reasons. On Sanity I guess that the final aspect of this is on sanity. I have been accused of being insane for doing all I do. To take a quote from one of my doctoral supervisors: “Craig, you have a doctorate, why on earth would you want to go through this again. It is insane.” I love study. I can do it and I am good at it. I do not need to do formal study, but I like it. I enjoy the structure. I like the process and it means that I do more. I do not watch sport (I do play sport but there is a distinction) and I do not watch TV. Formal study is MY form of relaxation. To those people (usually without degrees) who keep attacking me and saying I cannot have done this, I offer you the chance to validate all of it. Now, the answer is that you can do something. Instead of engaging in an exercise designed to cut down tall poppies and to attack those who have done something, why not do something yourself? I will (and have in the past) helped others. I will do this for nearly anyone (none of us are not perfect and that includes me). There are ways that anyone can study these days. In fact, I am more than happy to help all I can to have people achieve this. Instead of attacking the character of others you see as frightening (and this really is what this is about), how about you spend the time doing a qualification yourself? Really, my email is public. I keep offering, instead of attacking the accomplishments of others, add to your own. I offer this and from time to time, people take me up on it. This is, I offer to help others improve their education. Not for money, not for fame, but as I want to have a better aware and education world. In this, I also benefit as a more educated (practically) world is one that will have fewer (though always some) issues and which could be more tolerant. Certification and membership numbers A limited subset of certifications I hold is listed below: CISSP # 47302 (ICS)2 Certified Information Systems Security Professional ISSMP # 47302 (ICS)2 Information Systems Security – Management Professional ISSAP # 47302 (ICS)2 Information Systems Security – Architecture Professional CISA # 0542911 IS Audit and Control Association – Certified Information Systems Auditor CISM # 0300803 IS Audit and Control Association – Certified Information Security Manager CCE # 480 ISFCE – Certified Computer Examiner ISSPCS # 051 International Systems Security Professional Certification Scheme MCSA # 3062393 Microsoft Certified Systems Administrator MCSE # 3062393 Microsoft Certified Systems Engineer MCSE # 3062393 Microsoft Certified Systems Engineer (Mail) MCSE # 3062393 Microsoft Certified Systems Engineer (Security) MCDBA # 3062393 Microsoft Certified Database Administrator MIEEE # 87028913 Member IEEE AFAIM # PM133844 Associate Fellow Aust Inst. Management (lapsed now as I have been culling memberships – they cost too much to maintain) MACS # 3015822 Senior Member Aust Computer Society GIAC… NOT ALLL GSE-Compliance #0001 [Platinum] GIAC Security Compliance (GSE-Compliance) GSEC # 10506 [Gold] GIAC Security Essentials Certification (GSEC) GCIH # 06896 [Silver] GIAC Certified Incident Handler GCIA # 02913 [Silver] GIAC Certified Intrusion Analyst GCFW # 01891 [Silver] GIAC Certified Firewall Analyst GCWN # 01234 [Silver] GIAC Certified Windows Security Administrator GAWN # 00894 [Silver] GIAC Assessing Wireless Networks GCUX # 00587 [Silver] GIAC Certified UNIX Security Administrator GNET # GIAC .Net GSLC # GIAC Security Leadership Certification GHTQ # 00368 [Silver] GIAC Cutting Edge Hacking Techniques G7799 # 0039 [GOLD] GIAC Certified ISO-17799 Specialist (G7799) GCFA # 0265 [GOLD] GIAC Certified Forensics Analyst (GCFA) GSNA # 0571 [GOLD] GIAC Systems and Network Auditor (GSNA) GSAE # 00141 [Silver] GIAC Security Audit Essentials (GSAE) GLEG # 0006 [GOLD] GIAC Legal Issues (GLEG) GLEG Incorporates GIAC Business Law and Computer Security (GBLC) GLEG Incorporates GIAC Contracting for Data Security (GCDS) GLIT GLEG Incorporates GIAC Legal Issues in Information Technologies (GLIT) GLFR # 0016 GIAC Law of Fraud (GLFR) GREM # 0586 GIAC Reverse Engineering Malware (GREM) GPCI # 0086 GIAC Payment Card Industry (GPCI) GSPA # 0101 GIAC Security Policy and Awareness (GSPA) GLDR # 0101 GIAC Leadership (GLDR) GWAS # 0535 GIAC Web Application Security (GWAS) GIPS # 0036 GIAC Intrusion Prevention (GIPS) SSP-MPA # 0416 Stay Sharp Program – Mastering Packet Analysis (SSP-MPA) SSP-GHD # 0246 Stay Sharp Program – Google Hacking and Defense (SSP-GHD) SSP-DRAP # 0171 Stay Sharp Program – Defeating Rogue Access Points (SSP-DRAP) Papers / Publications: Peer Reviewed Papers Right now, I have a further 8 papers in peer review. The following are all accepted and/or published. 2012 (Accepted) 1. Wright, C. (2012, February). Hacktivism, terror and the state: The Importance of Effectively Enforcing Cyber Security Legislation. Paper to be presented at the 10th Anniversary National Security Australia Conference. 2011 2. Wright, C. (2011, December) Who pays for a security violation? An assessment into the cost of lax security, negligence and risk, a glance into the looking glass. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. . 3. Wright, C. (2011, December) Current issues and liability facing Internet Intermediaries. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. 4. Wright, C. (2011, December) Criminal Specialization as a corollary of Rational Choice. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. Wright, C. (2011, December) A preamble into aligning Systems engineering and Information security risk measures. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. 5. Wright, C. & Via, T. (2011, December) Modeling System Audit as a Sequential test with Discovery as a Failure Time Endpoint. Paper to be presented at the International Conference on Business Intelligence and Financial Engineering. 6. Wright, C. (2011) “Exploiting format Strings with Python” Hakin9 7. Wright, C. (2011) “More Exploits with Python” Hakin9 8. Wright, C. (2011, September)Of Black Swans, Platypii and Bunyips. The outlier and normal incident in risk management. Paper presented at CACS2011 Australia. 9. Wright, C. & Zia, T. (2011, July)Compliance or Security, what cost? (Poster)” Australasian Conference on Information Security and Privacy. 10. Wright, C. (2011) “A comparative study of attacks against Corporate IIS and Apache Web Servers” Sans Technology Inst, USA 11. Wright, C. (2011) “Rationally Opting for the Insecure Alternative: Negative Externalities and the Selection of Security Controls” Republished and extended Paper, Sans Technology Inst, USA 12. Wright, C. (2011) “Rationally Opting for the Insecure Alternative: Negative Externalities and the Selection of Security Controls” Republished and extended Paper, Sans Technology Inst, USA 13. Wright, C. & Zia T (2011)”Rationally Opting for the Insecure Alternative: Negative Externalities and the Selection of Security Controls” CISIS Spain 14. Wright, C. & Zia T (2011)”A Quantitative Analysis into the Economics of Correcting Software Bugs” CISIS Spain 2010 15. Wright, C. (2010) “Software, Vendors and Reputation: an analysis of the dilemma in creating secure software” Intrust 2010 China 16. Wright, C. & Zia T (2010) “The Economics of Developing Security Embedded Software” SecAU Australia 17. Wright, C. (2010) “The not so Mythical IDS Man-Month: Or Brooks and the rule of information security” ISSRE USA 18. Wright, C. (2010) “Packer Analysis Report – Debugging and unpacking the NsPack 3.4 and 3.7 packer.” Sans Technology Inst, USA 2009 19. Wright, C. (2009) “Effective Patch Management – Saving Time and Getting Better Security” MISTI USA 20. Wright, C. (2009) “Database Auditing” Testing Experience, Germany 21. Wright, C. (2009) “SaaS Security” MISTI USA 22. CISecurity (Multiple) (2009) CIS BIND Benchmarks” Centre For Internet Security, USA 2008 23. Wright C, Kleiman D & Sundhar R.S. (2008) “Overwriting Hard Drive Data: The Great Wiping Controversy” Lecture Notes in Computer Science (Springer Berlin / Heidelberg) 24. Wright, C. (2008) “Detecting Hydan: Statistical Methods For Classifying The Use Of Hydan Based Stegonagraphy In Executable Files” Sans Technology Inst USA 25. Wright, C. (2008) “Using Neural Networks” Google 26. Wright, C. (2008) “Ensuring secure data transfer and data sharing” DQ Asia Pacific 27. Wright, C. (2008) “Record and Document Destruction in a Digital World” IT Security World, USA 28. Wright, C. (2008) “Managing Security in a Global Company” IT Security World, USA 29. Wright, C. (2008) “A Quick and Nasty overview of finding TrueCrypt Volumes” Sans Technology Institute 30. Wright, C. (2008) “Exploring Data Visualisation” Strategic Data Mining 31. Wright, C. (2008) “Statistical Methods to Determine the Authenticity of Data” CACS2008, Au 32. Wright, C. (2008) “Text Data Mining, the future of Digital Forensics” Hex Journal USA 33. Wright, C. (2008) “Compliance, law and Metrics: What you need to meet and how you prove it” SANS ACT 34. Wright, C. (2008) “Current Issues in DNS” Sans Technology Inst, USA 35. Wright, C. (2008) “Advanced Methods to Remotely Determine Application Versions” NS2008 LV, USA 36. Wright, C. (2008) “An in-depth review of the security features inherent in Firefox 3.0 Compared to IE 8.0” iDefense, USA 2007 37. Wright, C. (2007) “The Problem With Document Destruction” ITAudit, Vol 10. 10 Aug 2007, The IIA, USA 38. Wright, C. (2007) “Requirements for Record Keeping and Document Destruction in a Digital World” Sans Technology Inst, USA 39. Wright, C. (2007) “Electronic Contracting in an Insecure World” Sans Technology Inst, USA 40. Wright, C. (2007) “The Problem with Document Destruction” IRMA UK (Republished) 41. Wright, C. (2007) “Ethical Attacks miss the point!” System Control Journal ISACA 42. Wright, C. (2007) “Where Vulnerability Testing fails” System Control Journal ISACA 43. Wright, C. (2007) “Application, scope and limits of Letters of Indemnity in regards to the International Law of Trade” Internal Publication, BDO Aug 2007 44. Wright, C. (2007) “UCP 500, fizzle or bang” Internal Publication, BDO July 2007 2006 45. Wright, C. (2006) “Port Scanning A violation of Property rights” Hakin9 46. Wright, C. (2006) “A Taxonomy of Information Systems Audits, Assessments and Reviews” SANS Technology Inst USA 47. Wright, C. (2006) “RISK & Risk Management” 360 Security Summit AU 48. Wright, C. (2006) “A QUANTITATIVE TIME SERIES ANALYSIS OF MALWARE AND VULNERABILITY TRENDS” Ruxcon AU 2005 49. Wright, C. (2005) “Analysis of a serial based digital voice recorder” Published 2006 SANS Technology Inst USA 50. Wright, C. (2005) “Implementing an Information Security Management System (ISMS) Training process” SANS Darling Harbour AU 51. Wright, C. (2005) “Beyond Vulnerability Scans — Security Considerations for Auditors” ITAudit, The IIA, USA 52. Wright, C. (2005) “PCI Payment Card Industry Facts” Retail Industry journal, July 2005 2001 53. Multiple Authors (1999) “Windows NT Security Step by Step” SANS Technology Inst USA 2000 54. Ashbury A & Wright, C. (2000) “DNS Security in Australia” Net Security, June 2000. 1999 55. Wright, C. (1999) “A Comparative analysis of Firewalls” in “The Internet Hot Sheet” ATT Sept 1999 Books / Book Chapters 1. Wright, C. (2008) “0123456789The IT Regulatory and Standards Compliance Handbook: How to Survive Information Systems Audit and Assessments0123456789” Syngress USA 2. Litchko, J; Lang, D; Hennell , C; Wright, C & Linden, M V (2011) ““0123456789Official (ISC)2 Guide to the CISSP(R)-ISSMP(R) CBK0123456789” CRC Press, ISC2 USA 3. Kleiman, D; Wright, C; Varsalone, V& Clinton, T (2007) “0123456789The Official CHFI Study Guide0123456789” (Exam 312-49) (Paperback)” Syngress, USA 2007 This book is used as a text for ITE-513 at Charles Sturt University 4. Multiple Authors (2009) “0123456789Cisco Router and Switch Forensics: Investigating and Analyzing Malicious Network Activity0123456789”, Syngress Press 5. Multiple Authors (2009) “0123456789Mobile Malware Attacks and Defense0123456789”, Syngress Press 6. Multiple Authors (2008) “0123456789Check Point NGX R65 Security0123456789” Syngress, USA This book is used as a text at Charles Sturt University 7. Multiple Authors (2008) “0123456789Mobile Malicious Code0123456789” Syngress, USA 8. Multiple Authors (2008) “0123456789Best Forensic Book0123456789” Syngress, USA In 2012 the following book will be published by Taylor Francis Academic press: SCADA Security. I am the author of the Forensic chapter Chapter 16: Forensics Management
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