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Redvolution (REDV) is a token, a cryptocurrency, based on the Ethereum network. Redvolution is also a project : creating a cross-platform, easy-to-use, secure and multipurpose wallet for all of the Ethereum-based ERC20 tokens. It aims to regroup everything a token owner could need. And the Redvolution token is the fuel of this ecosystem : for example you can attach a message with each transaction of REDV.

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The rate at which fake cryptocurrencies trading platforms are springing up online today is very alarming.  It is now becoming clear that as the value of digital currencies increase, scam trading platforms. Online crypto traders should be more careful, alert and realistic to avoid these unscrupulous elements which are spreading lies and duping people of their money.

The success of Bitcoin has prompted more development of alternative cryptocurrencies, some very similar to others and some with specific use cases. The rise in value and adoption of certain altcoins have shown to be much faster than Bitcoin was initially, particularly if a cryptocurrency has a strong use case.  Adoption of cryptocurrencies by developers, merchants, consumers, and institutions is growing rapidly as exposure to the technology escalates.

Blockchain will be adopted by central banks and cryptographically secured currencies will become widely used.
Blockchain could replace central banks.
Real risks remain for banks that choose to get involved with cryptocurrency firms.
Blockchain technology could reduce the UBS's infrastructure costs in cross-border payments, securities trading and regulatory compliance by as much as $20 billion a year by 2022.
The number of applications within and outside the banks could be reduced as the Blockchain transaction contains all relevant information for the successful transfer of assets and/or related contracts.
Deutsche bank's economist sees blockchain as a threat because of the lack of the IT infrastructure to support the technology involved.
Ethereum is much more general purpose than bitcoin and could be useful for banks.
The future of finance in many nations could be dominated by Bitcoin and cryptocurrencies.
A private blockchain run by banks could end up as just "another cartel" and function as poorly as the payments consortium.
Banks could become the "custodians of cryptographic keys".
The blockchain could save lenders up to $20 billion annually in settlement.
Blockchain technology could be used to bypass today's centralised financial infrastructure entirely.

Time and education will need to play a role as other industries are just realizing one of the core innovations of the blockchain is its ability to reduce or eliminate trusted counterparties in the transaction process.
Blockchain has the potential to create new industry opportunities and disrupt existing technologies and processes.
Blockchain technology will make the world even smaller as it increases the speed and efficiency of transactional activity.

Now the costs for the backend of successful projects are special. Some have owned or rented entire data centers to service their games. Now imagine that you managed to make a game with the server on a distributed registry. Then, with the expansion of the game's audience, the server infrastructure of the project automatically expands. So a million new installations will no longer be a headache for the Devops, there will not be a drop in servers. On the contrary. New installations will extend the network capacity of the project to a million devices. However, it should be understood that in this scenario, the design of the game should allow a technical implementation using a blockchain. So far, as far as I know, none of the existing technologies can realize something more complex and global than trivial rates or lottery.

Некоторые аналитики утверждают, что при подготовке законопроектов и предложений по регулированию технологии блокчейн чиновники не понимают о чем пишут, но очень хотят приобщиться к революции блокчейн, в связи с чем мы становимся  свидетелями очередной  пиар-кампании. Справедливости ради хотелось бы отметить, что один из не многих, кто еще несколько лет назад начал активно выступать за внедрение технологии блокчейн был Герман Греф, также о возможности производить Асики в России говорили некоторые российские ученые. Но тогда, почему-то эта тема чиновников сильно не интересовала, теперь очень многие государственные мужи, вдруг стали специалистами в блокчейне и с экранов говорят нам о разработках России в сфере блокчейн, о которых мы с вами могли прочитать в СМИ еще год назад. Предлагаемые меры по ограничению майнинга могут привести к уменшению мощности самой сети, и это при том, что азиатские страны стараются стать лидерами в майнинге.  При попытке зарегулировать блокчейн сразу возникает ряд вопросов. Кому нужны криптовалюты собранные на Московской Бирже, если сама децентрализованная сеть не работает, аналогично можно собрать все жесткие диски пользователей Торрент и сложить их в одном здании, тогда сам Торрент перестанет представлять интерес. Почему, при скептическом отношении к существующем криптовалютам, чиновники не рассматривают существующий блокчейн как возможность уменьшить санкционное давление и доминировать на уровне супермакроэкономики. Приводя основным аргументом "ооочень" высокие финансовые риски для простых граждан при покупке подобных активов, замалчивается тот факт что такие высокорисковые рынки как форекс, являются вполне доступными для любого гражданина.  Но все-таки, положительным моментом является то, что Глава государства "простимулировал" госаппарат и чиновники начали  думать и размышлять о таком феномене как блокчейн и криптовалюты....., а некоторые из них даже начали рассматривать блокчейн, как  перспективное направление в развитии цифровой экономики государства.

Blockchain is much bigger than bitcoin. There is staggering innovation in the area of distributed ledgers, but most of it will be under the radar for anyone who hasn’t immersed themselves in that world. Here are five technologies and trends to watch.

Smart contracts

Bitcoin decentralises money, removing the requirement for a middleman and enabling trustless peer-to-peer transactions. Now, imagine you could do the same for computer code. The result would be a programme that executed instructions when certain conditions were met, and no one could stop it because it ran on a virtual computer distributed on thousands of different machines across the planet. Smart contracts do just that. Ethereum is the most famous smart contracts platform, though that reputation tipped over into infamy when its flagship application went rogue. Smart contracts do exactly what you tell them to; they operate under a ‘code is law’ model.

The DAO – a virtual ‘company’ that managed well over a hundred million dollars worth of Ethereum based on the collective decisions of it holders – was exploited, and tens of millions of dollars drained from it. It caused an existential crisis for Ethereum, whose community had to decide whether to rewrite the supposedly immutable blockchain to reverse the damage. (In the end, they did – a decision which was hugely controversial and that has had far-reaching ramifications.) Amongst other issues, it raised the question of how smart ‘smart’ contracts really are.

There are also questions about the scalability and energy cost of creating a planet-sized computer to run relatively simple programmes, though other platforms, like Lisk, take a different and more efficient approach. Bottom line: smart contracts are a powerful idea and we’ll be seeing a lot more of them.

Blockchain-as-a-Service

Creating and maintaining your own blockchain is a pain. It’s a specialist business to code the software, and you need a whole network of computers running it to secure your network. No surprise, then, that the same approach that has driven cloud services – everything from file storage to running software – has started to appear in the blockchain sector too. The new ‘blockchain-as-a-service’ (BaaS) platforms aim to bring the benefits of blockchain to businesses and organizations that don’t have the resources to create their own.

Microsoft has been spearheading the BaaS approach with Azure, which makes different blockchains available to users. But specific platforms are being designed that will enable anyone to launch their own bespoke blockchain, with its own parameters, on the back of an existing blockchain. You get the functionality you want, just without the hassle of maintaining the network. Stratis is one such BaaS platform, which aims to bring a ‘cloud computing’ approach to blockchain deployment. Ardor, too, will offer an ‘off-the-peg’ approach to launching new blockchains.

Energy efficiency

Bitcoin as a protocol is remarkably secure, but that strength comes at the cost of a huge amount of expended energy – by some estimates, the bitcoin network consumes as much power as Ireland. Many other cryptocurrencies operate on the same ‘proof-of-work’ principle – albeit on a far smaller scale – but more energy efficient alternatives like proof-of-stake are being trialled.

Another approach is to ‘recycle’ bitcoin’s energy usage by using its network to validate transactions on other blockchains. Komodo, a new privacy-centric blockchain project which is just launching its crowd-fund, is pioneering this approach: digests of batches of transactions on its own blockchain are periodically logged on the bitcoin blockchain to engrave the historical record in stone. That offers both the flexibility and innovation made possible by using a new blockchain, along with the unassailable security of bitcoin’s chain.

Permissioned blockchains

There’s no doubt that blockchain can and already is disrupting the existing ecash payments system. Banks and governments are catching onto the efficiencies and other advantages. But they don’t generally like the idea of giving up control of the money they create and oversee, as is the case with bitcoin. On the bitcoin ledger, once a transaction has been made it’s permanent. There are no do-overs, no reversibility. And so central and commercial banks are researching and creating their own kind of blockchains: so-called permissioned ledgers that include a control layer to allow them to restrict who makes transactions and intervene when they want to. Depending on where you stand, these are either a wonderful improvement on the classic blockchain, or an unthinkable oxymoron that flies in the face of everything bitcoin stands for. Wherever you stand, though, permissioned ledgers are coming down the track fast.

Tangle: the blockchain that isn’t a blockchain

Blockchain is great, but it has problems – like the fact it’s hard to scale up, since there’s so much information stored on the ledger. There are various ways to address this. One is the Tangle, pioneered by Iota, which – if you really want to know – is a form of Directed Acyclic Graph (DAG). It’s less of a block-chain than a block-braid, and is one lightweight, scalable approach that circumvents some of the blockchain’s limitations whilst still allowing for peer-to-peer transfers of information.

Over the coming months and years, we can expect greater evolution of the technology to include more forms of blockchains-that-aren’t-quite-blockchains.

Author of the article Guy Brandon

For most Haskellers the phrase ‘smart contract’ might bring up some vague inclinations of contracts in languages like Racket, but the term is increasingly coming to mean an interesting way of writing and executing stored procedure programs on an immutable distributed database. The technology is very early but is piquing the interesting of people like myself who see an amazing potential of the ideas, but also the peril and human cost of building the technology on top of a set of foundations that lacks rigor and discipline.

Foundations

There are a few definitions of smart contracts, that most applicable here is:

Smart contracts are executable programs run on top of an immutable distributed database whose inputs and outputs are maintained globally consistent by a distributed consensus protocol.

In particular I’m not constraining the definition to contracts that run on a blockchain which is a specific minimal implementation of a distributed database which has certain properties that are amenable to creation of so-called cryptocurrencies. Probably the biggest turnoff from looking at this technology is that the community around the technology is populated by particularly vocal cryptoanarchists with fringe views. And while those people do exist, there are also a lot of people like myself who are interested in the technology independent of the currency component, for it’s pure applications in database, programming language theory, and distributed systems.

On the industrial side of the space there are several emerging platforms on which to deploy smart contracts:

Ethereum
Ripple Codius
Mastercoin
Intel Sawtooth
Hyperledger Fabric
R3 Corda
Raft with Stored Procedures
With the exception of Ethereum most of the platforms are not in a usable state and some of which are quite likely vaporware.

Technical Details

The current state of the art, Ethereum is a public blockchain that embed a Turing-complete virtual machine that can be scripted in a language known as Solidity.

In PL parlance an Etheruem-flavored smart contract is basically a Smalltalk object that allows message passing through transactions on a blockchain. The code is deployed by it’s owner and then anyone on the network can interact it with it by message passing which may result in data or state changes on the global network. The execution occurs on the ‘miners’ on the network who execute the contract code with the inputs and outputs specified in the transaction and compute a solution to a RAM-hard SHA inversion problem called Ethash which adds the new block to the chain and updates the global state of contract network. Whichever miner solves the problem first gets to append the newly hashed block and the process continues ad-infinitum with the global network converging on consensus.

From a programming language perspective this introduces the non-trivial constraint that programs must necessarily terminate. The current implementation accomplishes this by attaching a cost semantics to each opcode in the virtual machine that expends a finite resource called ‘gas’ that is a function of the current block. In programming language space smart contracts are necessarily total programs meaning they must probably terminating.

Solidity, while being an interesting proof of concept, is dangerously under-contained and very difficult to analyze statically. As a case in point, I gave a talk on this subject to room full of veteran programmers (database and operating system architects) and even after walking through the basic structure of the code none of the them could figure out where the bug in this basic code was.

contract Coin {
    mapping (address -> uint) balances;
   
    function Coin() {}

    function() {
        balances[msg.sender] += msg.amount;
    }

    function sendAll(address recipient){
        if (balances[msg.sender] > 0) {
            balances[recipient] = balances[msg.sender];
            balances[msg.sender] = 0;
        }
    }

    function withdraw() {
        uint toSend = balances[msg.sender];
        bool success = msg.sender.call.value(toSend)();
        if (success)
            balances[msg.sender] = 0; // Vulnerable to call-stack attack
    }
}
The basic structure of this contract is the construction of a token which is pegged to a specific amount of the ambient currency on Ethereum called ‘ether’. The contract allows people to exchange the values, send their balance to another recipient or withdraw their balance back. the function() behaves like Smalltalk’s message-not-understood and handles calls that don’t invoke a method a contract.

The particular problem with this contract is that the send in the withdraw function is particularly dangerous to an exploit when invoked from a malicious contract which repeatedly call into the contract and then implement a default function which calls withdraw repeatedly until the maximum call-stack (1023) of the contract is reached and the balance is never zeroed-out.

contract Malicious {
    Coin toAttack = Coin(coin_address);
    bool shouldAttack = true;

    function Malicious() {
      toAttack.call.value(msg.amount)();
    }


    function() {
        if (shouldAttack && msg.sender == coin_address) {
            shouldAttack = false;
            toAttack.withdraw();
        }
    }

    function attack(){
      toAttack.withdraw();
    }
}
This is a subtle bug and really indicates how difficult it is to reason about these kind of contracts are to analyze using current schools of thought.

DAO

I first heard about the DAO contract from the New York Times from a friend of mine who works in venture who was very excited about the model of distributed autonomous organizations and automated venture pools . The article outlined all of the systemic and social structural problems and casually made the somewhat prescient remark “Young, complex machines tend to have flaws and vulnerabilities that you can’t anticipate”. Two weeks later the same class of bug as the above code was exploited and the contract was compromised in one of the more spectacular failures around this new technology. Of note is that underlying protocol behaved exactly as specified, and the bug was simply a fact of the contract language not making invalid states unrepresentable and making it too hard to reason about.

At the heart of this statement is getting at the deeper problem of “How we do we know what the code will do before we run it”. The answer to this question is obvious to most of us who have read the literature of programming language semantics and it’s associated theories of verification, but this still remains a fairly niche domain in CS education and we’re seeing the manifestation of that in projects like Solidity which are making the same mistakes of the past instead of standing on the shoulders of work that is already done.

If anything, the precedent after the DAO-hack is that software verification is no longer purely in the realm of academics and hobbyists and the latest work in dependent type theory, model checkers, and types has suddenly found immediate relevance that needs no further explanation other than to prevent these kind of catastrophic failures from happening again. More importantly in the Haskell ecosystem we have an abundance of riches with regards to tools for software verification from tools like QuickCheck, SBV, and best in class support for compile design and domain language implementation.

Future

It’s an exciting new emerging field and more interesting for us, the ideas and technology is precisely at the intersection of Haskell’s strengths and would drastically benefit from the enthusiasm and expertise of people who are willing to dabble in the more formal side of programming. The maturation of technology is likely to occur in 2017 but the foundations are being laid this year. The technology is a bit early, but hopefully some of the light are going off in your head when you consider the exciting new applications of programmable distributed ledgers endowed with the strengths of modern tools like Haskell.

Author of the article Stephen Diehl

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PR: Universa Expects to Raise Over $100 Million in the Upcoming ICO
By Bitcoin.com PR - Aug 17, 201707230
PR: Universa Expects to Raise Over $100 Million in the Upcoming ICO
CEO Alexander Borodich.
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This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

At the Crypto Bazar forum focusing on developing and regulating the crypto-currency market in Russia, the creator of the Universa platform Alexander Borodich, who is the former top manager of the largest Russian IT company Mail.ru Group and now the head of the Venture Club venture fund, announced the plan to attract over $100 million during the new ICO.

Universa is expected to make a rival to such financially successful projects as Tezos ($230 million) and EOS ($200 million). According to Borodich, the founding of Universa can be compared to the revolution in trade, after the advent of paper money, or the Internet, after the appearance of HTTP.

“The dependence of blockchain on mining process and its high expenses resembles the dependence of gold coins on the price of gold,” says Borodich. “Universa offers an easy and cheap way to produce smart contracts or smart banknotes – sort of a capsule with an emitter’s payment obligation.”

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