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Has anyone heard of ETH Bank Pro? Seems like an interesting fund, does anyone know if it's safe?
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The best platform to play poker and other games is definitely via decentralized applications! Check out Dapp.com to see all the best gambling DApps out there!
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Here's a great explanation from Dapp.com
What is Ethereum?
By late 2013, Vitalik Buterin developed the idea of Ethereum in the shape of a white paper which he went on to share with his mates and the very proposal was further spread as well. Due to the scattering of the idea, around 30 to 40 people approached Vitalik for having further discussions on the concept and even when he was aspiring for the criticism on his plan, nobody came up with the critical reviews for further improvement. In the following year 2014, this model was made public where the core group was involved in making it happen. Besides Vitalik Buterin, Mihai Alisie, Anthony Di Lorio, Charles Hoskinson, Joe Lubin, and Gavin Wood were also part of the core functional team. The same team proposed to conduct the crowd-sale of Ether which was the local token of the Ethereum for seeking funds for further development.
Basically, Ethereum is a decentralized system that depicts that it is beyond the control of one centralized authority or entity. While in contrast, an overwhelming majority of the online enterprises, organizations, and setups are developed on the centralized systems of authority. Despite the fact that the same system has been under functionality for hundreds of years, the history and past events associated with it have proved with erroneous constantly. Nevertheless, the use of the system is still essential in the case when different factions have a mistrust or lack of mutuality with each other.
So, as Ethereumm is decentralized, it works entirely autonomously which means it comes free from inherent control of any of the authority. For the exact same reasons, Ethereum is free from any central threat point of failure as it gets managed by many hundreds and thousands of volunteer computers around the world which make it least probable for going offline even for a moment. In the same way, the personal data and credentials of the users stick on their very devices whereas the content based on the digital media like videos or apps remains under the authority of their developers without a need to get monitored by the rules made by the hosting companies like YouTube or iOS etc.
Additionally, it is significant to understand that even though the Bitcoin and Ethereum are always compared with each other, still it is worthy to mention that both are contrasting projecting with an utterly separated purpose of existence. Bitcoin is the first ever cryptocurrency which is also a money transfer which is based and developed by the public ledger technology known as the blockchain. On the other hand, Ethereum might have got the inspiration from the back-end technology of Bitcoin, still, it managed to enhance and increase the level of its capacities up to a great extent. It is based on the whole network within the Internet browser, coding language and payment mechanism which work in a combination to allow users for developing decentralized applications on the blockchain of Ethereum. Such applications could whether be utterly new ideas or a reformed shape of a decentralized system of pre-existing techniques. That is how the role of a middle agent is cut off and the whole of the expenses connected with the intervention of third parties are also eliminated.
How does the Ethereum work?
Since it is already mentioned that Ethereum relies on the working capacities and functionality of Bitcoin and its blockchain design, however, there are numerous alterations for the applications other than the money system’s assistance. The only identical aspect of both blockchains is their storage of all the histories of transactions on their respective network however, Ethereum’s blockchain tends to perform way much more functions than that. Other than the history of the transactions, each node on Ethereum network also needs to download the latest state or commonly known as the current status of every contract within the network while each user’s balance and smart contract code are stored as well.
More importantly, Ethereum blockchain is known as transaction oriented state machine and when you consider the computer science, a certain machine is prescribed as being able to interpret the sequence of inputs and transforming into the latest state based on the inputs. Right when the transactions are performed, the machine changes to a different state.
Each form of Ethereum is comprised of millions of transactions and such transactions are combined together to make blocks where every single block is chained along with its previous blocks. However, prior to the binding of the transaction with the ledger, there is a need for verification and validation, it has to go through a sophisticated process which is known as mining. Just to simplify things a bit more, mining is the name of a process under which a group of nodes uses its computing technology to completing a working challenge which is more precisely a mathematical task. Depending on the power and capability of the computer, the more powerful it would be the quicker mathematical exercise or puzzle could be solved. Also, the response or answer to this challenge is itself a proof of work and ensures the authorization of a certain block.
A great majority of the miners residing all over the world are competing against one another for having to form and authorize a block as whenever a new miner guarantees a block, new Ether tokens get formed and are issued to that miner. Miners are an integral part of the Ethereum networks because they do not only authorize and confirm the transactions and other functionalities but also formulate new tokens of the currency’s network.
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Found this great overview on Dapp.com
Steem* is a social blockchain that grows communities and makes immediate revenue streams possible for users by rewarding them for sharing content. Steem has been operating for over 3 years and hs provided a scalable blockchain protocol for publicly accessible and immutable content, along with a fast and fee-less digital token (STEEM) which enables people to earn the currency by using their brain (“Proof-of-Brain”).
How Does Steem Work?
Compared to other blockchains, Steem stands out as the first publicly accessible database for immutably stored content in the form of plain text, along with an in-built incentivization mechanism. STEEM, the Steem’s token makes it both “smart” and “social” compared to other cryptocurrencies like Bitcoin and ETH. STEEM has two new token features. One is the “rewards pool” - a pool of tokens dedicated to incentivizing content creation and curation. The other one is a voting system that leverages the wisdom of the crowd to assess the value of content and distribute tokens to it. These two unique properties when combined are referred to as Proof-of-Brain, which is an entendre based on proof-of-work (PoW) to emphasize the human work required to distribute tokens to communities.
As for the rewards for content creators and curators, Steem token systems that reward users as they contribute to a token-based community system require mechanisms for establishing and evaluating content’s social value. These tokens get distributed to various actors in the system based on the defined rules of the blockchain. These actors, such as content creators, witnesses, and curators, compete in specialized ways for the tokens.
Under “one-STEEM, one-vote” model, individuals are able to vote with staked-tokens to determine the allocation of rewards - For those who have contributed the most to the platform, as measured by their account balance, have the most influence over how contributions are scored.
Steem has already surpassed Bitcoin in a number of transactions and is able to scale to support 10,000 or more transactions per second. Because of Delegated Proof of Stake (DPoS), the Steem blockchain is able to generate a new block every three seconds with a minimal computational load. By all means that Steem can process more transactions and hold more information, including content.
Steem’s Platform Features:
Primitives Designed for Content Applications
Native Name System
Steem Blockchain Dollars (SBD)
Decentralized Exchange
Hierarchical Private Key Structure
Multi-Sig Authorities
Multiple Reward Beneficiaries
Smart Media Tokens (SMT)
Stolen Account Recovery
Security Through Time-Locks
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if you want to take advantage of the growing Decentralized Application marketplace, you should definitely take a look at the DAPPT (Dapp.com Token)!
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Here is the Dapp.com synopsis of how to use the TRON blockchain platform!
What Is TRON?
TRON is a blockchain-based platform that aims to build a decentralized entertainment ecosystem with distributed storage technology. TRON allows digital content creators to cut out middlemen like the App Store, Google Play or Netflix, so the global audience can directly pay the content creators to access the content.
How Does TRON Work?
TRON wants to “Heal the Internet” with its entertainment features: Give users control their own data, facilitate content ecosystem so users will be able to access the content, allow distributed digital assets exchange like games and market forecasting.
TRON launched TRON Virtual Machine (TVM) last year and it is a lightweight, Turing complete virtual machine developed for the TRON's ecosystem. It provides millions of global developers with a custom-built blockchain system that is efficient, convenient, stable, secure and scalable. Based on that, TVM additionally supports DPoS consensus. TVM is compatible with Ethereum Virtual Machine, allowing programmers to utilize Solidity to continue coding on TVM without having to learn a new programming language.
To keep the TRON network operating smoothly, Bandwidth Points (BP) are used for transactions as fuel. The network grants every account a free pool of Bandwidth Points for free transactions every 24 hours to prevent overloading the network. To engage in transactions more frequently requires freezing TRX for additional bandwidth points, or paying the fee in TRX.
TRON network generally does not charge fees for most transactions, however, due to system restrictions and fairness, bandwidth usage and transactions do take in certain fees. TRON uses TaPoS to ensure the transactions all confirm the main blockchain while making it difficult to forge counterfeit chains.
TRON has reached over 2M transactions per day, with over 700K TRX accounts, and surpassing 2,000 TPS.
Please do let me know if you have any further comments or questions about this!
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For those of you interested in learning more about IOST here is the Dapp.com summary:
What Is IOST?
IOS (Internet of Services) is an open-source, decentralized blockchain network based on a consensus algorithm called “Proof of Believability” (PoB) – a protocol that is developed to ensure the security and efficiency of transactions on the network. IOST is the native token of IOS Network. The team at IOST aims to increase the system’s throughput enormously while guaranteeing security.
Currently, Dapp.com has 17 distinct IOST dapps listed on our platform with Endless Game leading in both 24h users and 24h transactions. For those who want to start building their own dapps on top of the IOST blockchain, it is imperative to truly take the time to understand how IOST works differently from other blockchains. This article will walk you through the 5 mechanisms that support the IOST network.
How Does IOST Work?
The IOST has four mechanisms:
1. Proof-of-Believability (PoB)
Proof-of-Believability (PoB) guarantees that the IOST nodes are with negligible probability to misbehave, while significantly increasing the transaction throughput by size-one-shard. It separates all the nodes into two leagues: believable and normal.
First of all, believable nodes process transactions quickly. Then the normal nodes validate samples of the transactions and provide verifiability. Based on its believability score (it is calculated by multiple factors, such as token balance, contributions to the community, reviews, etc.), a node is selected as the believable league. Normal nodes are able to ensure that the believable nodes are acting honestly. If a normal node catches a believable node acting dishonestly, that believable node will lose all of its tokens and its believability score will go back to zero.
2. TransEpoch
TransEpoch is node-to-shard transition assignment protocol that allows remaining nodes to continue working while having new nodes bootstrap and download history data. By using TransEpoch, IOST switches batches of nodes in and out of shards when transitioning between epochs. The TransEpoch algorithm keeps the Byzantine Fault Tolerance (BFT) consensus for each shard during the transition and keeps the shards secure so that malicious nodes won’t be able to take over the shard during the whole process.
3. Atomix
Byzantine Shard Atomic Commit (Atomix) is a two-step inter-shard atomic commit protocol that guarantees transaction atomicity in Byzantine setting. Here’s an example of a cross-shard transaction from node a at shard A to node b at shard B:
Node a in shard A wants to send a fund to node b in shard B. If the nodes in A approve the transaction, the transaction is logged in A’s blockchain. At the same time, the client will lock the fund into a transaction message (proof-of-acceptance) and send it to B. A sends the transaction to B’s blockchain for validation. If all nodes in B approve the transaction, b receives the fund. If the TX is rejected by nodes in A, the fund returns to a.
4. Micro State Block (MSB)
To minimize the storage and bootstrapping costs for validators, IOST uses Micro State Blocks (MSBs). So each shard only stores the headers of previous blocks and the blockchain state is dispersed across multiple shards. Because of the MSB generation protocol, nodes only need to validate the last part of the blockchain instead of the entire blockchain.
Please feel free to comment or ask any questions if you would like any further explanation!
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Let me present the Dapp.com sypnosis of the TomoChain Blockchain:
What is TomoChain?
TomoChain is a public Ethereum Virtual Machine (EVM)-compatible blockchain. Compared to other classic blockchains, the following advantages are highlighted in their whitepaper: low transaction fee, fast confirmation time, double validation and randomization for security guarantees.
How Does TomoChain Work?
The Consensus
Although TomoChain can be considered as a fork of the Ethereum blockchain, it differentiates itself by deploying a different and more efficient infrastructure. TomoChain proposes a Proof-of-Stake Voting (PoSV) consensus, a POS-based blockchain protocol with a fair built-in voting mechanism and security guarantees with double validation.
The voting system allows TomoChain to not only reduce the PoW-related electronic consumption, but also enhance its transaction capacity to the point of handling around 2,000 transactions per second (TPS). Meanwhile, the double validation system is designed to strengthen security and reduce fork.
Overall, the upgraded PoS protocol is believed to tackle the following bottlenecks of traditional blockchains: scalability/efficiency, confirmation times, and fork generation.
The Masternode Design
Since the TomoChain is based on PoS protocol, it does not have miners as in the PoW systems such as Bitcoin and Ethereum. The TomoChain blockchain is produced and maintained by “masternodes”. The Masternode candidates must deposit a minimum of 50,000 TOMO (the native token of TomoChain) to the voting smart contract. A maximum of 150 masternodes is then elected by the remaining TOMO coin holders via the Voting DApp (and the number of masternodes can be changed based on the decentralized governance).
The randomization and double validation mechanism is then implemented to reduce the threat of cooperative attacks among masternodes. While typical single validation models require only one user to validate a block, double validation requires two masternodes to do so. In addition, the user validating the most recent block would be chosen randomly and not via fork generation.
For example: if M1 plans an attack by creating an invalid block, they would need both M2 and M3 to validate this invalid block to succeed. However, because both M2 and M3 will be generated randomly, M1 would have no way of knowing with whom to coordinate their attack, and any invalid block would then be rejected.
Please feel free to comment or ask any questions if you would like any further explanation!
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WEBSITE OVERVIEW: DAPP.COM
• Website: Dapp.com
• Dapp.com is the world’s largest dapp distribution platform. Dapp.com lists over 2,200 dapps that are built on seven major blockchains: Ethereum, EOS, TRON, Steem, TomoChain, IOST and Blockstack.
• They are building an ecosystem formed by various product lines, which removes the obstacles to dapp adoption.
• Dapp.com empowers users to discover, use and analyze decentralized apps in the easiest way possible.
• Dapp.com also has the largest decentralized app community in the world.
• Dapp.com’s vision to build a data-driven blockchain application ecosystem that allows users to discover and use all decentralized apps without barriers will be realized by developing the following core products and tools:
Dapp Store Wallet
• The Dapp.com Store Wallet is a tool that leads users to the decentralized world by removing barriers: it allows users to use any dapps without having to install any tools.
• Users will only need to transfer tokens to the Dapp Store Wallet to start using all dapps immediately.
• The Dapp Store Wallet is also very developer-friendly. Only one line of code needs to be replaced for a dapp to support the Dapp Store Wallet - and it is compatible with every existing wallet on the market.
Multi-Blockchain Identity Network
• The Multi-chain Identity Network will play a key role in removing the barriers to using dapps for everyone - by creating and managing wallets from multiple blockchains with just one click.
• They are able to map a single-set mnemonic phrase to different private keys from different wallets by integrating the functions of private key generation, wallet creation and faucets into one button, utilizing BIP39 protocol.
Dapp Analytics
• The Dapp Analytics Tool will empower developers to understand and measure the performance of their decentralized apps by providing unique data insights including customer behavior and trends that can’t be found anywhere else.
Cross-Chain Dapp SDK
• The Cross-Chain Dapp SDK is a multi-blockchain development toolkit that enables cross-blockchain dapp development.
• Gives developers the easy ability to extend their deployed dapps to multiple blockchains, or migrate them to certain Dapp.com supported blockchains, based on their business needs.
• The payment management function will allow developers to customize token contracts for payment and provide specific APIs that make it easy for developers to use any tokens in their dapps.
Token Generation Dapp Token (DAPPT)
The Dapp Token, or DAPPT, is an ERC-20 standard token issued on the Ethereum blockchain by Dapp.com. DAPPT is a utility token that circulates within Dapp.com's ecosystem. DAPPT will initially exist as a liquid asset in our product and services. DAPPT also plays a significant role in providing incentives to support the ecosystem and community expansion.
DAPPT Function and Value
1. Service Fees
DAPPT can be used to pay for the platform’s service fees. Users will receive a discount when
using DAPPT tokens for payment within our platform.
2. Community Voting
Dapp projects will get free promotion by being voted for with DAPPT.
3. LaunchPad and Dapp Store
Dapps will be able to launch on the Dapp.com LaunchPad and Store by staking DAPPT.
4. Use Dapps
Users can use DAPPT in partnered projects.
5. Cross-Chain Asset Deployment
Users will be paying DAPPT as gas fees when they deploy crypto assets on multiple blockchains using our tool.
Token Allocation:
15% Token Sale: Token to accredited investors and institutions
15%: Angel Investors and Strategic Investors
5%: Advisors
15%: Founding Team
15%: Community and Ecosystem Expansion
25%: Foundation Reserve
10% Dapp Incubation fund
ROADMAP:
Q2 2019:
● Token sale
● Completed development of Dapp Store Wallet beta version and
support EOS
● Upgrade to product 3.0 with Market Intelligence function
Q3 2019:
● Dapp Store Wallet supports Ethereum and TRON
● Dapp LaunchPad available
Q4 2019:
● Dapp Analytics Services
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