NEO Decentralization Begins with Election of City of Zion Consensus Node

NEO Decentralization Begins. The decentralization of the NEO network has begun with the election of a City of Zion consensus node onto the NEO MainNet. City of Zion is a global, independent group of open source developers, designers and translators formed to support the NEO core and ecosystem.

The City of Zion consensus node has been running smoothly on the NEO TestNet for six months in preparation for election. Several other independent consensus nodes are also running on the TestNet and are planned to be voted in by the end of 2018.

These independent nodes include one hosted by KPN, one of the the largest telecom companies in the Netherlands. KPN announced its intention to host a consensus node at the first NEO meet up in Amsterdam on January 13th. KPN has 6.3 million fixed-line telephone customers; more than 33 million mobile subscribers in the Netherlands, Germany, Belgium, France, and Spain; and provides internet access to 2.1 million customers throughout Western Europe.

Fenbushi Capital is another company currently running a consensus node on the NEO TestNet in line for election. Fenbushi Capital was established in 2015 and was named one of the top 5 blockchain venture capital firms by CB Insights. The VC firm is said to have invested over USD $50 million in blockchain projects, and has Ethereum founder, Vitalik Buterin, as an advisor.

The KPN and Fenbushi Capital consensus nodes have been running on the NEO TestNet since April, 2018.

NEO has taken a methodical approach to decentralization, with founder Da Hongfei often acknowledging NEO’s centralized state. However, the gradual roll out of decentralization has been an intentional strategy, allowing the core development team to perform faster upgrades to the network.

Hongfei commented on this approach during his interview with Tyler Swope on NEOTALK @ DevCon: “We have to be very careful with decentralization of the consensus nodes, because the protocol of NEO is evolving very fast. We need those consensus nodes to act very quickly to upgrade, and if there is a bug or a security issue, we need them to respond very quickly. So we’re doing the decentralisation process slowly, gradually and very carefully.”

City of Zion also published an article in December of 2017 on “coopetition”, which is a philosophy where organizations who would otherwise be competitors cooperate in a shared project. This is an approach taken by many industrial open source and energy consortiums.

The article points out that in traditional Proof-of-Work or Proof-of-Stake networks, through the implementation of economic incentives and a range of second order off-chain interactions, such as access to cheap energy, ASICs or GPUs, on-chain oligopolies can be formed. Bitmain and its early access to ASIC technology is cited as one example of such an occurrence.

As there are no economic rewards for running a NEO consensus node, the onlyincentive is to ensure the integrity of the network. Therefore, it is in the best interest of organizations building and relying upon the NEO blockchain to deploy and maintain healthy nodes.

City of Zion explains: “In line with these ideas, NEO will begin its decentralization by allowing well known commercial projects and communities to run consensus nodes, forming an initial confederation of actors with a strong interest in guaranteeing the security and success of the network. While it might seem counterintuitive, this architecture will be less centralized than many other networks today. Through coopetition, we can ensure that all players are equal in the network by design. Their power won’t depend on how much money they have, or how cheap their electricity may be.”

In today’s announcement by NEO, a timeline of the decentralization process was laid out, beginning with the launch of the TestNet in 2015. The timeline states that NEO plans to open the network for public campaign and election of consensus nodes by 2019. A webpage for monitoring NEO blockchain status and information on consensus node candidates and their votes has been made available at:https://neo.org/consensus

All nominees for consensus nodes will be required to go through an identification process before they are voted in on MainNet, and will need to provide contact availability to ensure that time-critical events can be handled if they arise. Parties that prove that they can maintain outstanding uptime on the NEO TestNet will be eligible to be voted in as a MainNet consensus node by NEO holders@BPI

Optical Proof of Work (PoWx) - Alternative POW With Optical Computing

Alternative POW With Optical Computing. A conducive mining climate, still decentralized, has been the backstop for the success and security of bitcoin. Over time and development, the developmental climate also has the potential to become centralized because of the strength of large capital or a certain group that successfully has the amount of mining computing close to 50%.

Background

Strength of capital or the group has the potential to master the mining ecosystem by enlarging the amount of computing power (hashrate) bitcoin network. In this case, the group, or the power of large capital is the greatest influence comes from the producers of bitcoin mining devices that are now dominated by ASIC (Application Specific Integrated Circuits).

ASIC mining equipment dominates the bitcoin mining ecosystem because of its efficiency and effectiveness in performing certain computations for bitcoin mining compared to the GPU (Graphics Processing Unit).

Monopoly Hashrate and ASIC Devices

One of the big ASIC vendors, Bitmain, later became a party that monopolized many mining ecosystems through its manufacturer ASIC device. In the bitcoin network, Bitmain also has a hashrate approaching 50%.

The condition is of course a worrying condition, related to the potential mastery of the network that could happen at any time, including the potential of 51% attack. However, basically, ASIC vendor dynamic conditions are not a problem if more and more ASIC vendor alternatives are emerging. So ASIC producer climate becomes more competitive and also conducive.

Unfortunately, gradually since they were founded, BItmain itself has positioned itself as an ASIC producer that has increasingly monopolized the market. Allegedly, the number of devices used alone far greater than the number of ASIC sold in the market.

Bitmain with the device has enough potential to make bitcoin network become centralized. Bitmain itself is widely dismissed allegations that BTC.com independent, but it is just empty pepesan only because it is fully owned by Bitmain.

ASIC AsicBoost Asylum

AsicBoost, is an ASIC device for mining embedded in a new way to allow the exploit of its devices to maximize performance up to 20% faster, then embedded on its ASIC chip.

The potential weakness of the algorithm in POW bitcoin consensus was first recognized by Grex Maxwell and posted into the bitcoin developer mailing list forum on April 5, 2017. The potential that was then known, there are some miners who use unfair ways against other miners in bitcoin networks.

The unfair efforts use ways that are considered to be detrimental to other miners. The Asicboost utilizes the hash merkle damgard function, which in bitcoin mining processes typically hashing block headers with 80 bytes that focus on nonce with 32 bit size.

If in any SHA256 hashing process exclusively using 64 bits in the first option, then the effect of the previous data will also not be affected. Whereas if there is a miner capable of making the first 64 bit header block and the second block with a closer distance or identical to 16 bits only, then the miner can use the calculation and repeated for some experiment in the next block. As a result, the method can effectively reduce energy consumption and power, so it can work up to 20% more effective.

The attack using ASIC device media called Asicboost was initially patented by Timo Hanke and Sergio Demian Lerner in November 2014. The controversy about Asicboost continued when Bitmain's party attempted to patent their Asicboost version without entirely listing Timo Hanke and Sergio Demian credits Lerner. The Asicboost patent is listed in China on behalf of Bitmain.

Again, the cautious effort was re-done by Bitmain to re-try to control the network through the amount of computing device ASIC. It was then parried with Segwit bitcoin activation, which made Asicboost unable to function. The cornerstone of Segwit Activation is then rejected by the Bitmain CS plot, and raises BCash (Bitcoin Cash).

Instead of disagreeing with Segwit, Bitmain CS proposed Segwit2x that actually allowed their Asicboost to function and gain a much greater profit. When Segwit bitcoin is active and successful, then again Bitmain CS tries to find another way by bringing up a new drama on behalf of BCash.

Overall, both the potential for mastery of bitcoin networks through major ASIC producers, and the potential of Asicboost has long been a thorn in meat in Bitcoin. However, bitcoin should be able to make the mining climate and the bitcoin network as a whole to remain decentralized, no control and control in it.

PoWx With Optical Computing in Proof of Work Bitcoin

Gradually, an option appears to change PoW bitcoin. Luke Dashjr, bitcoin developer, then repeatedly tried to dig his opinion on the bitcoin community about the option. Until soon PoWx took advantage of Optical Computing (Photonic Computing) to improve the security of Bitcoin PoW consensus.

So far this bitcoin PoW change option is still limited to the proposal only, and also still in the stage of further development. However, understanding the condition of the mining ecosystem and everything that covers it above becomes quite important to know if it turns out at some point later this option is used in Bitcoin.

Now public: one of the most promising options for a #Bitcoin PoW change, that Bitmain has no common experience, and eliminates the electricity-cost bias.

* Optical * proof-of-work (aka #PoWxfor some reason). https://t.co/6YlFtqqHuw

- Luke Dashjr (@LukeDashjr) July 3, 2018

Then how the Optical Proof of Work (OPoW) is actually? OPoW basically focuses on the use of hardware and software based on Optical Computer / Optical Computing, or so-called (Photonic Computing). In this case, the devices in it are no longer dependent to use electric energy currents to be able to compute, but using visible or infrared (IR) light photons.

If generally the basic building of a modern computer is a transistor, then the transistor is then replaced with optical-based electronic components. So that the intensity of light can enter and transmitted through the material in the same way as the bipolar transistor response.

Because light is an important element, unlike electrical energy that has the potential to damage the device more heat if the computation is faster, culminate with the increasing amount of electricity used, and heat is the main factor of damage to the device. With light, then no matter how much is used, so the development of data processing and computing systems becomes more resistant and powerful. This computer-based optical technology, believed mempu process much faster than modern electronic computers today.

In general, the vision of optical computing OPoW based applications of PoWx has many benefits, including:

Beneficial to improve the decentralization of bitcoin mining ecosystems Minimize the rate of use of electrical energy power Addressing the potential problem of the centrality of mining ecosystems such as ASIC / GPUD projected to run on PoW Bitcoin. Creating a more competitive mining ecosystem climate, away from monopolies with open source development projects. alert to futureQuantum Computing challenges

The Problem of Using High Electrical Energy in Bitcoin Mining

One of the biggest problems in the mining ecosystem is the amount of electrical energy required to compute. So far, with the effectiveness of ASIC device performance is still not able to provide a solution to the amount of energy it.

If in some variants Altcoin many who use DPoS for mining mechanism, then Bitcoin must still try to become more expensive ecosystem so it can still be decentralized. This is what keeps the bitcoin different with some Altcoin variants.

Due to DPoS, it still allows a small group of potentially networking potentials. PoW bitcoin now, to be able to master the bitcoin network will require resources that really so big. Although the potential is still possible, but it will be quite difficult it can be done. While hardware for mining, OPoW will also use ASIC based Optics. In this case, the Application Specific Photonic Integrated Circuit (ASPIC) is used.

Crypto Regulation, Philippines Take a Different Approach

Philippine Crypto Regulation. Unlike the Thai government, the Philippine government chose to take a different approach on crypto regulation. Dated June 26, through the CEZA (Cagayan Economic Zone Authority), announced that there will be only 25 licenses to be issued by the government.

25 permits issued by the Philippine authority apply to the crypto market, Mining Farm, ICO, or any other crypto entity operating in that country. The move was taken as a precautionary measure to protect investors from potential fraud and scams.

While related to the requirements that must be met, crypto exchanges must have a minimum investment value of USD 1 million in a period of 2 years. Another requirement is to have an office in the Philippines, registered with the Philippine Securities and Exchange Commission, and pay USD 100,000 for its permission. As compensation, the entity that pocketed the permit and complied with the requirements is entitled to a tax break from the Philippine government.

Commenting on Reuter, Raul Lambino of CEZA, "We will give 10 permits for crypto exchanges from Japan, Hongkong, Malaysia and Korea. They can be crypto mining, ICO, or crypto exchanges. Fiat money exchange to crypto or vice versa should be done overseas so as not to violate the regulations in the Philippines, "he explained.

Related to the prevention of fraud and scam, Lambino added, "Currently still in the process of formulating regulations that can provide protection of investment cryptocurrency," he said. In this case, CEZA acts as a hub associated with the investment of the world of financial technology.

Regulations to provide protection against potential fraud and scam are more emphasis on not allowing ponzi schemes. The potential is generally well known from the ICO project. Lambino himself considers the ICO project a lot of fraudsters. According to Lambino, there are many scammers that operate and are associated with crypto exchanges with capital and small market capitalization. "We do not want the Philippines to be a haven for fraudsters, as well as schemes of fraud originating from abroad", he stressed@BPI

Crypto Law in Thailand Without Rigor

Crypto Law in Thailand. If most countries are complicated enough to formulate crypto law, in Thailand the process is true without any lengthy debates. Generally, a long debate to formulate related crypto legislation on the assessment of whether crypto is categorized as securities or not.

Since last April, the Thai Government has also taken seriously to immediately regulate the market for crypto. By Thai finance minister, Apisak Tantivorawong at a cabinet meeting at that time, had already announced a crypto currency regulation plan.

As a result, the Thai government uses a crypto law that is. The cryptocurrency and digital tokens commonly referred to through the ICO program are viewed as a digital asset business. Not only that, the Thai Government is also ready to change their tax laws, in order to take revenue from new industries in the segment.

Thai government regulations, in detail regulate the rules of business related to the crypto world such as exchanges, brokers, as well as about ICO regulations (Initial Coin Offerings). Specifically about this ICO, later the ICO token must be paired with one of seven specified crypto currency. The seven crypto currencies are like Bitcoin, Ethereum, Ethereum Classic, Litecoin, Stellar, Bitcoin Cash, and Ripple.

With regard to its tax withdrawal, the Government will withdraw 15% as taxes taken from profits. More specifically, the tax for digital asset trading is subject to 7% for VAT in each trade.

VAT tax withdrawal in each crypto trade is then considered to be enough to inhibit new industries later to be able to grow. One of the law firms that has clients from the crypto industry, Baker McKenzie rate VAT should be eliminated. According to him, the tax-specific withdrawal rules for trade are the rest of the old tax rules.

Broadly speaking, the steps taken by the Thai Government on regulation of crypto currency is a bold step. But in connection with the regulation, the Securities and Exchange Commission of Thailand is trying to be able to balance between the pros and cons Crypto.

In addition, if through the crypto law is too tight, it will cause new industry players will choose to run overseas. With these efforts, the Thai government has tried new opportunities to compete with other countries that project as a crypto center. Other countries such as Japan, South Korea, and also Taiwan@ BPI

ARBITAO Automatic Platform Makes Crypto Arbitration Accessible to Everyone

ARBITAO Auto Platform. New and experienced investors who want to benefit from the cryptocurrency market can now do it in a less risky and more user-friendly way; thanks to Arbitao, a fully automated cryptocurrency arbitration platform. The platform was launched in November 2017 and has been successfully tested and tested by a group of trusted crypto fans and merchants. Direct trades are executed every few seconds and are visible to everyone via the dashboard on the Arbitao website.

Arbitrage trading is a trade that exploits different price imbalances between different exchanges. Basically, it is a practice of buying the same asset at a cheaper price on one exchange and simultaneously selling it at a higher price elsewhere. Since the crypto market is very young, there are many arbitrage opportunities than in traditional markets. This is good for arbitrage investors because there are much better profit opportunities, while the risks remain small for traders and investors. It all sounds beautiful, but there are catches ... The success of arbitrage trading in the crypto market takes three things: high liquidity, complete specialized software to identify and execute commerce, and global infrastructure to ensure that trading is made quickly. Alone, achieving all of it will prove problematic, but fortunately for you, Arbitao offers all three.

Teknologi unik Arbitao menemukan perbedaan harga antara 19 bursa yang berbeda – termasuk Binance, Bitfinex, Kraken, dan Poloniex – dan secara otomatis membuat perdagangan menguntungkan untuk masing-masing anggotanya. Ya, yang Anda baca itu benar; platform sepenuhnya otomatis dan tidak memiliki hambatan untuk masuk, yang berarti semua orang sekarang dapat memperoleh manfaat dari perdagangan arbitrase – praktik yang biasanya hanya diperuntukkan bagi para trader profesional yang berpengalaman. Anggota komunitas dapat berinvestasi sekecil US $ 100, duduk kembali, dan menonton algoritme melakukan keajaiban untuk mereka. Selain itu, laba dibayarkan setiap hari dan dijamin sebagai dolar AS untuk menjaga mereka tetap aman dari volatilitas cryptocurrency.

The Arbitao platform runs on blockchain ATAO which is supported by its own cryptocurrency, ATAO. ATAO coins give investors access to the platform and are used to reward the Arbitao community: In addition to benefiting from automatic arbitrage trading and ATAO value increases, investors can earn ATAO coins through various ICO reward - referral, referral and commission systems.

Community members also need not worry about having to transfer their profits to various exchanges: the Arbitao Platform is accompanied by a TAOX exchange itself, which ensures easy and safe trading of ATAO coins with BTC at a very low cost.

Arbitao is more than white paper: Investing in Arbitao means investing in a proven strategy, a dedicated team and a piece of the future crypto market. All that's left is you open your laptop, go in, and take advantage of opportunities.

Arbitao pre sale was launched on July 1, 2018, and main token sales started on July 22, 2018. A total of 800,000,000 ATAO will be distributed to all ICO@BPI

More than 20% of Millennial Generation Men in the UK Bitcoin Better Than Real Estate

Bitcoin Better than Real Estate. "For millennials, Bitcoin's rising performance, followed by a similar correction, has more intrigue than a stable growth prospect in home prices," Get Living concludes. "This comes from the 27% Millennial gender of the men surveyed believing that Bitcoin is a better investment than property."

To be filled with questions such as whether they are less interested in following their parents' footsteps by owning a home and prefering bitcoin to get rich. This survey yields data that more than a quarter of men in the UK, at 3,065 with an age range of 21 to 35 years, see crypto as a good investment vehicle. In late March of this year, for example, "The Student Loan Report surveyed 1,000 current university students with related loan debt, posed one question: Have you ever used student loans to invest in crypto currencies like Bitcoin?" These pages are explained. The survey "found that 21.2 percent of current students with student loan debt have used financial aid money to allocate to cryptocurrency investments." The study itself confirmed the final results of the Harris Poll survey in 2017, which yields data that 27% of all generations millennials prefer bitcoin (BTC) rather than traditional stock and bonds.

"Bitcoin's significant price moves have made many Millennials excited, with one in five seeing it as an attractive investment proposition compared to relatively slow moving property values," says Get Living. Does not close The possibility of a shift in traditional investment to the realm of the new world. Blockchain has been recognized as an internet algorithm reform that makes it all the better. Not close the possibility of blockchain derivatives like cryptocurrency will be the most popular means of investment to get rid of other instruments. The future may change@BPI

ARBITAO Help You Solve Your Aribation Solutions

Arbitao Help Your Solution. Arbitao is an automated solution for arbitrage trading in the cryptocurrency market that aims to address the old problems associated with conventional arbitrage trading methods, which most people do not have the opportunity to arbitrate.

Arbitao's unique technology helps users by discovering price differences in different crypto exchanges and automatically execute arbitrage pro table trades for community members.

According to Karel Mirrin, "Many ICO projects do not have products that work and may never exist. With Arbitao, it's different. Our goal is to deliver a product that works and is tested before ICO begins. And we succeeded in it. "

While the emergence of cryptocurrency has provided many opportunities for individuals and investors, issues such as lack of liquidity for certain couples, price manipulation and the high number of non-professional traders lead to inefficiency, where prices vary widely between markets. Although some technical solutions have been applied to resolve the inefficiencies and benefits of potential arbitrage possibilities, the complexity of the overall arrangement makes it impossible for everyone to overcome them. This is where Arbitao and the unique ATAO blockchain technology come into play, using data provided by multiple exchanges to create pro table trades for members.

All community members in ATAO blockchain will be rewarded in two ways. First is a lurking prize that can be obtained by installing an ATAO wallet, stalking multiple coins and validating transactions in blockchain. In return for securing the network that way, users can earn more coins. The second way is to contribute the computing power to the network so that the Arbitao algorithm can run faster. This results in higher pro ts, which are shared between networks.

The Arbitao system has been online since November 2017 and was successfully tested and tested by a group of trusted crypto fans and merchants. Currently, Arbitao's automated arbitrage trading system can identify active arbitrage opportunities from 19 major exchanges, taking into account transaction time, transaction costs, volumes, book orders and other factors.

Once fully implemented, Arbitao will conduct fully decentralized arbitration trade to its users where they can manage their ATAO wallets with API credentials for their accounts on the exchange.

Arbitao is on a mission to implement a decentralized node network using highly functional computing resources. This will address the problem of identifying the most viable arbitration opportunities between various exchanges and carrying out risk-free arbitration trading before they disappear.

In the long term, Arbitao aims to fully decentralize existing arbitrage trade and empower both small and large investors. Initially, Arbitao laid the foundation for this environmental system by opening their fully operational automatic trading pool to the public.

You can find more information and press releases on the official website www.arbitao.com

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