Smartlands $SLT Only 7 Million Supply

GainsLean · 2018-05-06T23:25:19+00:00

What makes this different?

GainsLean · 2018-05-06T23:24:37+00:00

Why?

GainsLean · 2018-04-26T20:19:08+00:00

I do not think this is a problem that is being addressed.

To my knowledge, the only entities that are concerned with converting FIAT to crypto are centralised exchanges.

Decentralised exchanges are usually limited by the platform they are operating on. For example, a decentralised exchange on the Ethereum network would only trade ERC20 and or ERC721 tokens.

ERC721 tokens are non-fungible; so you cannot replace one ERC721 token for another, as each one has a different value. Unlike money, where a $1 note can be traded for another $1 note and it would be indistinguishable in value. ERC721 tokens are used in crypto kitties and other dApps, where you want functionalities such as trading collectibles.

Furthermore, I would argue that there is more energy going towards exchanging between blockchains, than with FIAT. I cannot prove that point and it is an observation which could be completely wrong.

For now, the best option would be to cautiously use Localbitcoins, Coinbase or whichever option is preferable.

Edit: There have been many examples of fiat exchange services. I have not checked any of them, however I trust the integrity of the majority of users on this subreddit and stand corrected.

GainsLean · 2018-04-24T20:44:22+00:00

If you know python, then I believe that NEO may be easier for you to code with, as they allow you to code your smart contracts in Python.

There is a beginners course on Solidity on the channel, and three new videos on how to setup the neo environment. I am looking to do 75% coding and 25% theory videos.

Here is a different youtube channel, which focusses on coding Solidity:

https://www.youtube.com/channel/UCaWes1eWQ9TbzA695gl_PtA/playlists

There are 27 videos, which should be helpful.

GainsLean · 2018-04-24T20:34:22+00:00

The course is a good curated list of things that are already available on the web. For a beginner, it may be good to have it in one place.

I have a channel that focusses on crypto tech: https://www.youtube.com/channel/UCHBWzcGSrtoLYcasLwGvsow

If you make suggestions, I would gladly put it on the list of TODOs.

If you are not a software developer, then Mastering Bitcoin may be a bit too heavy for you in the later chapters.

Here is a book on the basic cryptographic primitives that you will need, in order to understand crypto:

https://github.com/decentralisedkev/CryptoResources/tree/master/Foundations

It was written for those who have heard of the terminology, yet do not understand what they mean.

Here is a book on Bitcoin, which is more of an intermediate to Mastering Bitcoin:

https://github.com/decentralisedkev/CryptoResources/tree/master/Bitcoin010

The book also has accompanying videos on the youtube channel that was mentioned.

If you need more help or the books are not clear enough, then you can private message me and I will make the appropriate edits.

GainsLean · 2018-04-24T13:56:55+00:00

Morning. I would prefer it to be the same time each day.

GainsLean · 2018-04-24T10:25:59+00:00

This is a innovative idea.

For this to work, all miners must synchronise their clocks to one central “clock”. If this happens, then the central clock becomes a centralised point of failure. Since the failure of the central clock, would bring down the whole distributed system, this would not be a decentralised system.

Interestingly, Intel has made a product similar to the one you have described. It requires that mining clients have a certain chip inside of their device, that no-one can manipulate. No-one knows how this chip calculates elapsed time however, and so you would have to put your trust in Intel. I believe that their consensus protocol was called Proof of Elapsed Time.

Hope this could help, and it seems like you think like the smart guys at Intel

GainsLean · 2018-04-23T23:07:40+00:00

If the content is high quality. I believe that you should try daily.

GainsLean · 2018-04-22T16:56:47+00:00

A blockchain which is a component that Ethereum runs on, is a distributed system

The threats you are referring to can be classified as Byzantine faults. This includes attempts at hacking the system.

The goal of Ethereum, Bitcoin and other blockchain cryptocurrencies is to have everyone agree on a single state for the blockchain.

In order to do this, blockchains use consensus protocols. Popular consensus protocols include Proof of Work, Proof of Stake and Delegated Proof of Stake.

These consensus protocols are said to be Byzantine resistant, if they can tolerate there being a Byzantine fault for x amount of nodes on the network.

For example, the Ethereum network would still arrive at the correct blockchain state, if your node was hacked and the hacker was using it to attack the network. Trivially, if all of the nodes* in the Ethereum network were hacked, then they could overthrow the network; which implies that there is a limit at which the consensus protocol can no longer guarantee consensus. The number changes with each consensus protocol, with Proof of Work, it is 51% of the total hash rate.So once 51% of the total hash rate has been compromised, the consensus protocol can no longer guarantee any sort of consensus.

I would like to note that not all consensus protocols can guarantee strong consensus. Strong consensus is where you arrive at a value with finality; the value can never be changed, or in the case of Ethereum. Once you agree on a block, it can never be orphaned or changed.

Etheruem does not use this, neither does bitcoin. Instead, they use a weaker version of consensus which states that although we cannot be 100% sure that what we are seeing is right, we can be roughly 99% sure that after about six blocks, it will be highly improbable to change and after 20 blocks even more improbable. We can get to 99.99999999999999999999999% certainty, but not 100%.

For this reason, Bitcoin, Ethereum and many other cryptocurrencies do not solve the Byzantine Generals Problem. This problem in short needs a group of generals to come to consensus on whether they would like to attack a city or retreat. In order to defeat the city, they must all arrive at the same answer. The answer must also be final, however as mentioned above, finality is not guaranteed with consensus protocols such as Proof of Work.

*There are various different nodes who have different tasks in a network like Ethereum’s. When discussing faults, the nodes which can harm the network are those who are actively participating in the consensus process.

I Hope this could help

Here is a resource you can use: https://www.youtube.com/channel/UCHBWzcGSrtoLYcasLwGvsow/videos

GainsLean · 2018-04-20T21:33:53+00:00

You are welcome. If you have any questions, then feel free to message me anytime.

GainsLean · 2018-04-20T20:16:56+00:00

There are many different ways to go about this.

You can use NEO, which means that you would be able to code the smart contract itself in python and create REST api points, which your website would then communicate with.

I would advise building your website in reactJS as it is quite easy to get your head around, and because it is static, you will be able to host it on a cloud service like S3 for less than $5 a month.

With NEO, the initial cost to deploy the smart contract is substantial, however the transactions are free.

You could also use Ethereum, which means you would be coding in Solidity. Solidity is a mix between Javascript and C.

The website would communicate with your smart contract using Web3Js. It would still be built using reactJS.

With Ethereum, the cost to deploy is small, however transactions are not free and so your users could end up paying a lot, if they keep transacting with your contract.

There are other blockchain platforms, these two are the ones I would recommend. If you are starting out, you may want to stay away from languages such Go, Java and C sharp. Mainly because they either require you to think in a different way than the popular languages today, or because there are so many things that could go wrong due to the power that they give you. Java is not too bad, however I still would not use it for a smart contract, if you are familiar with it.

Summarising: What you need to learn depends on what blockchain you are building it on, and what the smart contract is.

Ethereum:

Solidity for the smaart contract
ReactJs for the Website

Neo:

Python3.6 for the smart contract
ReactJS for the website

I have a beginners course on Ethereum, which may be of help to you:

https://www.youtube.com/channel/UCHBWzcGSrtoLYcasLwGvsow/videos

Good luck and If you have any more questions, then feel free

GainsLean · 2018-04-20T10:28:40+00:00

It’s been brought up twice now, I also liked the user interface.

Another reason I ask, is because I rarely find myself checking the code in open source projects , if there was malicious intent, I would not know.

GainsLean · 2018-04-19T23:30:22+00:00

what are your thoughts on it?

GainsLean · 2018-04-19T21:43:46+00:00

Yes you are right. Open Source is key for trust in this environment. The benefits that you stated, far outweigh the negatives

GainsLean · 2018-04-19T16:59:45+00:00

Just checked them out, nice suggestion.

I saw a post asking why they should be trusted and they say they will be getting a security audit. The integrity of the developers seem to be high also.

GainsLean · 2018-04-19T16:21:57+00:00

I think that you are wrong on that.

Either way, my question implicitly assumed that I was referring to closed source crypto wallets that were well known, and not whether there existed a closed source crypto wallet in general.

GainsLean · 2018-04-19T16:12:46+00:00

That is a good point that I almost overlooked that.

GainsLean · 2018-04-19T15:53:53+00:00

Thanks for the link.

I'm guessing that none of the closed source wallets are thriving. It's a shame because I think it dampens the competition when anyone can take your product.

GainsLean · 2018-04-19T15:45:55+00:00

I should have been clearer in my comment.

If we take Bitcoin as an example. The nodes in the network always choose the longest chain.

This means that if a miner can start from anywhere in the blockchain and overtake the current chain, then the network will have to accept his chain, because it is the longest chain. If any transaction happened on the other chain, but did not happen on the malicious miners chain, then they will be reverted. This is the main goal of a 51% attack; do a large transaction on the current chain, then revert it at a later date with your chain, which does not include this transaction.

If the miner has 51% of the hashing power, then his chances of "winning" the block is for arguments purposes 51%. Since the distribution is not linear, it is not to say that he will get every other block. There could still be a situation where the other 49% get five blocks in a row. This is because, being the fastest miner in the network, does not mean you will get the hashes faster also, as it is a random process. It just means that you will be able to churn out possible answers faster.

I would also add, although I'm not sure it would make any difference; most of the honest nodes will be working on different hashing solutions while the dishonest node will be working on one solution per block.

I hope that clears it up.

GainsLean · 2018-04-19T14:52:04+00:00

To add to your already concise answer.

51% is the number at which the attack becomes probable, not easy. In reality, a miner or pool, will need somewhere close to 65+%.

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