EOS Overview – The Future of Decentralized Applications

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

Similar to Ethereum, EOS is a blockchain network for creating decentralized applications. It wants to simplify the experience by providing services like cloud storage and user authentication for developers to utilize. On top of this accessibility, the EOS platform will be scalable to multiple thousands of transactions per second.

EOS Ethereum Comparison Video

What Is EOS & How Does It Work?

Like Ethereum, EOS wants to be your answer to the following problems:

  • The top network for decentralized applications (Dapps)
  • Beat the others at top speed for verifying transactions
  • Become a Decentralized Autonomous Organization (DAO), essentially meaning it is entirely self-sufficient. It can verify transactions, take advantage of information, and command itself without any human interference.

It’s sort of like how Bitcoin Cash and Litecoin want to be the more efficient Bitcoin. Nothing entirely new is being done here, instead an advancement of previous technology. EOS claims to have the ability to process over 50,000 transactions per second with taking a performance hit. For a fun comparison, VISA can only handle 24,000 per second. This showcases the real power of decentralized technology.

Of course, the main reason for EOS is the application development. Using the EOS network, app developers can purchase EOS tokens to allow their application to exist on the network. They don’t need to spend these tokens, rather have them held as if they are reserving a space. Employing the EOS network to build apps means that developers are saving both time and money in the creation of their app, alongside having a decentralized network to run it on.

Dapps on the EOS network can interact with one another, though each has their own secure firewall to keep them safe. Because of this, users won’t have to create multiple accounts for using different types of applications on the EOS network. All apps on the network will have your information secure and usable.

EOS abides by a certain set of rules also known as a “constitution.” Their rules allow it to run without risk of servers going up against it or having viruses infect the network. Also, EOS takes advantage of something called parallel processing. This means that the network can scale as technology increases, transaction speeds are quicker than other networks, and it can do multiple things at once.

The constitution alongside parallel processing is the reason for EOS’ success as one of the most powerful Dapp development blockchain technologies.

The Roadmap

EOS has gone through extensive testing to get to where it is. The team started an ICO on June 26th of last year, which will be ending on July 3rd, 2018. This isn’t a standard ICO, however. Tokens are distributed over 350 consecutive 23 hour periods. Each period distributes 2 million tokens, with the price set by the current demand.

The official roadmap is unavailable at the time of this writing, though the goal with the technology is apparent: to become the most versatile platform for decentralized app creation. The recently announced DAWN 3.0 is a step in that direction.

The Team

EOS is being worked on by a team known as Block.one. They are based in the Cayman Islands, with the CEO Brendon Blumer having been in the blockchain world since 2014. Before EOS, he worked with currency exchanges in online games.

The CTO, Dan Larimer, is the creator of delegated proof-of-stake and decentralized autonomous organizations (DAOs.) Also, he created BitShares and Steem. He’s kind of a big deal. That said, he sort of moved on from his previous projects whenever a new one caught his eye. This could prove detrimental to EOS if he finds something else to hold his attention.

The entire team is filled with high-profile software and blockchain developers, all of which are looking to solve the largest issue with the blockchain: scalability. It has stayed small since the announcement, but after the ICO, we can expect them to grow a couple of members.

Community

Telegram: https://t.me/joinchat/AAAAAEQbOeucnaMWN0A9dQ

Twitter: https://twitter.com/eos_io

Reddit: https://www.reddit.com/r/eos/

GitHub: https://github.com/eosio

When compared to other blockchain technologies, the team behind EOS doesn’t engage with their community as much. They’ll tweet out news and event-related information but otherwise won’t get too involved with the community. Dan Larimer has a presence on the official subreddit as well.

Exchanges

EOS is available on a majority of the popular exchanges like Binance, Bitfinex, and Kraken, alongside quite a few lesser known ones. The faith behind the project has brought it all over. As the ICO finishes up, we can expect it to expand even further.

Because it runs on a Delegated Proof-of-Stake system, EOS coin isn’t mineable like most other tokens. Instead, users mine ERC-20 tokens (Ethereum) and convert them over to EOS coin. Otherwise, you can invest in the coin during the ICO, assuming you aren’t from the United States.

Wallets

EOS isn’t compatible with very many wallets. The team recommends using MetaMask (a Chrome web browser add-on) or the popular MyEtherWallet. That said, the website recommends not using the following wallets with EOS:

• Any Bitcoin exchange

• Any Ethereum exchange

• Jaxx

• Exodus

• Coinbase

• Poloniex

• Kraken

• Bitstamp

• Bitfinex

• Bittrex

• Cex.io

What’s Next For Them

EOS has the potential to be a real Ethereum competitor. The team behind it is strong, with tons of experience in the crypto industry. Building a more accessible platform for developers is a surefire way to gather positive reception, and what we’ve seen so far is promising.

The hype behind EOS is high, and the platform has a lot to deliver on. Many are taking a step back and waiting to see what will happen instead of jumping in right away. Others say if they can’t do it, no one can.

Bytecoin – Your Best Choice For Privacy Tokens

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

As Bitcoin and other popular coins start to show their cracks, privacy coins are becoming the way for crypto enthusiasts. They are a smarter way to utilize these digital assets, as privacy coins are both untraceable and entirely secure. Bytecoin is one of the earliest of these types, with a long history since its development in 2012. It is even the source of Monero, which forked from this long-running cryptocurrency.

Video for reference

What Is Bytecoin & How Does It Work?

Much like Bitcoin, Bytecoin allows users to make worldwide transactions. Where Bytecoin differs is that those transactions are instant and entirely private, and with no extra transaction fees. It is much more secure than other tokens, and because Bytecoin is entirely untraceable, it is an anonymous peer-to-peer users dream.

Bytecoin uses secure cryptographic algorithms, making it impossible for anyone to trace the blockchain back to the sender, alongside hiding the recipient and the amount traded. Other cryptocurrencies aren’t as secure, allowing users to trace transactions should they so desire. Bytecoin can do this by relying on the users in the network.

Users can opt their computer into the Bytecoin network, allowing it to draw power to continue processing. The more power from computers, the more reliable the network, and the more secure. Because computers are always powering it, your money and your information are always safe.

The network of computers also prevent transaction fees, since the total level of energy used is so minimum. Also, the algorithms in place should deter hackers, since getting any important information would be too much work. It is even possible to mine on a regular PC because of this.

The Tokenomics

There are around 183 billion Bytecoin Coins (BCN) in existence. As miners keep breaking blocks, rewards will decrease, and the number of BCN can only go up to 184.47 total. Privacy coins in general still haven’t hit the mainstream market, but as awareness goes up, we will likely yosee the price rise.

The Roadmap

Bytecoin has a simple but effective roadmap in place:

Public API Beta

Starting in quarter one of 2018, the team will release a beta version of each API for all users to opt-in on. It will be available on GitHub, and any bugs or suggestions will be added in the final version.

Stable API

Once the beta version has been tested, the fully finished version will release with a new transaction system, an upgraded wallet, and added features.

Hardfork

There will be a hardfork of the current blockchain technology, with the new fork supporting the upgraded wallet and transaction system. Users will be able to back up their old wallets into the new one.

Public Release

In the latter half of 2018, the team will release a public “testnet” that allows each and every user to test any new software and leave any fixes and comments on it. This will truly bring the community into power with the project, and allow them to help shape the product as they see fit.

The Team

Bytecoin was founded in 2012, with multiple anonymous teams working on it but not communicating with one another. As a result, there were many forks and different versions of the coin. This went until July of 2017, where they decided to make some changes.

A majority of the team is still somewhat anonymous, with only a few of them revealing their names and photos. However, the plans for the project have been made very open, and the community is poised to play a very big part in the future of Bytecoin.

Community

Reddit: https://www.reddit.com/r/BytecoinBCN/

Twitter: https://twitter.com/Bytecoin_BCN

Telegram: https://telegram.me/bytecoinchat

BitcoinTalk: https://bitcointalk.org/index.php?topic=512747.0

Because the members on the team like to stay anonymous, they don’t interact with the community much outside of blog posts and official notices. That said, the members of the community are self-sufficient and keep each other updated on the going on of Bytecoin.

Exchanges

Bytecoin is available on only a few makets, with HitBTC and Poloniex being the biggest of the small group. While the coin has been available for a while, it still isn’t commonly known. As awareness of privacy coins goes up, we are likely to see Bytecoin appear on places like Bittrex or Binance in the future.

The coin is mined in a similar way to Bitcoin, with users participating in mining pools which solve complex algorithms to ensure transactions go through. They are then rewarded for their efforts in BCN.

Wallets

Bytecoin can be stored on their official web or desktop wallets, with a mobile wallet for Android available now and an iOS one coming soon. It works just fine, though some Reddit users report syncing issues from time to time.

What’s Next For Them

With Bytecoin being around for so long, it has a surprisingly small following. That said, their following is a strong one, and with the team refocusing their efforts on community and transparency, we are likely to see a new golden age for Bytecoin. Privacy coins are on the rise, and this token is one of the more reliable ones to invest time and money into.

ICON – Bringing The World Together

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

ICON’s tagline is “Hyperconnect the World,” and it has a fantastic plan for doing so. By utilizing blockchain technology, the team behind this currency intends to combine multiple industries into one big network, allowing them to interact with one another as if they were the same.

Video for reference

What Is ICON & How Does It Work?

ICON has the goal of being one of the largest decentralized networks in the world, ensuring that communities around the globe can connect with one another regardless of location. Currently, their vision encompasses banks, universities, insurance companies, hospitals, and e-commerce. This, of course, will expand as time goes on, with the intention of merging them all into one network that allows each community to interact as if they were the same.

The ICON network is made up of multiple decentralized applications (dapps) that benefit their communities. A few of them:

Blockchain ID

Blockchain ID provides extra layers of security and even identification, ensuring communities, like the ones involved in financial security, can verify one another to ensure safety. The entire application works via smart contracts, allowing users to save time when working with banks for loans or even to a new account.

Payment & Exchange

Payment & Exchange allows businesses to send payments to other businesses in a different industry or community. Essentially, the ICON Wallet is used to make transactions almost immediately, allowing banks, universities, insurance companies, and more to work seamlessly with one another.

The ICON network can be used to build as many of these applications as possible. It runs on something called a loop chain platform, which connects multiple communities (each running their own blockchain) into one large platform called the ICON Republic.

At the hub of it all is the Nexus, which is the “government” of the entire network. Each community has an elected representative that communicates with the Nexus and other communities. All communities have their own nodes, since each has their own blockchain. They all operate independently of one another, each with their own rules and protocols.

The Tokenomics

Like many emerging cryptocurrencies, ICON has its own decentralized exchange. This exchange sets specific tokens aside for each community, ensuring they all have their own value and can trade with others. Exchange rates are set by an artificial intelligence, with the coin, ICX, used as an intermediary between each transaction.

The Roadmap

The team behind ICON has every intention of expanding their loop chain network. They are breaking their plan down by industry:

Security

They are starting by increasing platform security via Blockchain ID and other privacy dapps. By the end of 2018, they want to use it for settlements on the platform.

Insurance

Automated insurance claims are the future with ICON. Advanced implementation ensures customers can make claims quickly and easily.

Banking

The banking community is working on a digital payment system that allows account management, pre-paid transactions, and increased ease of use with withdrawals and currency transfers.

Universities

The university team is creating a platform called U-coin that allows students to charge their day-to-day payments with cryptocurrency.

Hospitals

Known as the Precision Healthcare Information System (P-HIS,) this community intends to increase data purity and encourage data exchanges between hospitals for increased accuracy. Also, they plan on innovating the healthcare industry with H-sign, a digital signature system based in the blockchain.

The Team

ICON is actually the result of the work of many different teams. The ICON Foundation, which is a Swiss non-profit, hosted the ICO and is greatly involved in the community.

The loop helps with blockchain and smart contract development, as well as running and improving the Nexus.

DAYLI, which develops the DAVinCI artificial intelligence system that runs on the network.

Finally, there are multiple prevalent advisors and developers from the blockchain community working on ICON, including Don Tapscott, who wrote the best-selling book “Blockchain Revolution.”

Community

Telegram: https://t.me/joinchat/Fqw4igkkVmYtj–ZVi-QcA

Twitter: https://twitter.com/@helloiconworld

BitcoinTalk: https://bitcointalk.org/index.php?topic=2115503.0

Reddit: https://www.reddit.com/r/helloicon/

ICON mostly uses their Twitter for promoting events and articles on the token. A few members frequent and moderate the subreddit, continually answering questions and providing new information.

Exchanges

ICX is available on quite a few exchanges, with Binance and HitBTC being some of the bigger ones. This is a coin that will probably end up on Kraken as time goes on, due to how much potential it really has. Community members predict this coin to be one of top emerging ones in 2018.

Wallets

ICON has its own wallet, which is a Google Chrome extension that holds ICX and other altcoins. The wallet allows you to export settings should you want to move somewhere else, and provides a quick way to transfer coins between different wallets and exchanges. Otherwise, it can be stored on any ERC-20 compatible wallet, like Ledger Nano S or Meta Mask.

What’s Next For Them

The ICON team is working hard to provide these features for their communities. Connecting these different industries into one is a fantastic idea that could improve efficiency and safety during usage for all users. If things are to go as planned, this network will be an entirely secure way for users to engage in insurance claims, university payments, banking, and more.

That said, this is a bold idea, and it will require a lot of time and effort to pull off. Hopefully, the communities will form themselves and ensure a safer space for all.

Dash Buying Guide

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Who Created Dash (DASH)?

Dash was created by the Dash team, and they receive monthly funding from the blockchain to keep working on the project. Evan Duffield crafted the project back in January 2014. It was originally released as XCoin (XCO) before switching to Darkcoin in February 2014, and then in March 2015 it was rebranded as Dash.

Duffield developed the project after realizing that Bitcoin was not anonymous nor was it fast enough. He used a lot of Bitcoin’s code to build Dash, and it has similarities because of this.

Why Was It Created?

Dash is a fully incentivized P2P network. It is kept secure by miners who are rewarded for doing so. Also, large DASH holders become master nodes, who can then manage privacy, governance, transactions, and more. These incentives have grown DASH into one of the biggest peer-to-peer networks in the world.

The point of Dash is to be as liquid as real cash. It is a fork of Bitcoin, but with extra features like more privacy and much quicker transaction times. Privacy and anonymity are the main goals here on top of making transactions simple with almost zero transaction fees.

Intended Use Cases

To be used as an alternative to bank transfers and the fees for doing so. Dash is quicker than banks, can trade internationally, and prevents chargebacks. Trusted third-parties are not needed. DASH is considered a “privacy coin”. The website states that their “PrivateSend” feature ensures activity and balances are private. Also, “Transactions are confirmed by 200 TerraHash of X11 ASIC computing power and over 4,500 servers hosted around the world.”

Real-World Applications

Currently, a company called Crypto Vault is planning to incorporate Dash’s fiat to DASH currency exchange. This would simplify the trading process in Crypto Vault’s wallet.

Why would an investor buy Dash?

Dash is incredibly similar to Bitcoin. Both coins are decentralized forms of currency, though DASH has higher security and is much quicker with negligible transaction fees. It is intended to be an alternative to banks and payment providers without the need for trusted third parties.

Consensus Algorithm

Dash runs on a Proof-of-Work consensus algorithm just like Bitcoin. The difference here is that Masternodes store the data, and maintain security over the network as well. Masternodes run on a Proof-of-Service consensus. They must validate the network a total of 6 times per day, and then ping into the network to keep active.

Transaction Speed

Dash supports an “InstantSend” feature that can send transactions in less than 1.5 seconds.

The website states the transactions take less than a second.

Dash Supply

Current: 7,993,028 DASH

Maximum: 18,900,000 DASH

Reward per Block

45% of the block goes to the miner, 45% goes to a Master node, and the final 10% goes to the development team. This will vary and decrease by 7.1% each year.

How many confirmations from nodes are required?

The master node checks 2 quorums per block.

Network Fees

0.0002 Dash on average per transaction.

Current Cost per Dash

$303.38 USD

0.04435250

(April 5, 2018)

Dash Market Cap

$2,424,924,818 USD

354,511 BTC

(April 5, 2018)

Found on coinmarketcap.com

Which Exchanges Support It?

A wide variety, with the main ones including Binance, Poloniex, and Bittrex. Here is a full list.

Which Wallets Support It?

DASH has a few official wallets here. Ledger, Trezor, hardware wallets also support the coin.

Cardano Buying Guide

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Who Created Cardano?

Cardano was founded by Charles Hoskinson, who also helped found Ethereum. While working on Ethereum, he began to diverge from the original vision and decided to partner with the Cardano foundation.

Combining his knowledge and the Cardano resources, the two founded IOHK with the intention of building blockchains and cryptocurrencies for governments and academics. IOHK is contractually obligated to develop and maintain Cardano. A third participant, Emurgo, is involved purely in supporting and developing the project financially, and they have history working with blockchain technology.

Cardano’s early success was not surprising due to how much research and planning went into it. In 2015, it targeted Japanese investors who accounted for 95% of the total funding that year. The team’s goal is to become a central hub for all types of cryptocurrency, and one that can easily develop and adapt to future changes whenever necessary.

Why Was It Created?

Cardano is an open source platform that holds the Ada cryptocurrency. It is the first to come from scientific research and philosophy. While other blockchains are designed around having strong programming, the expert team behind Cardano is filled with engineers and researchers all dedicated to creating a flexible technology on top of that programming.

They’re treating it like NASA treats a space project – with as much regard to scientific fact as possible.

It’s important to know that Cardano is not the cryptocurrency. Instead, it is the blockchain-based platform with the intention of hosting financial software used by governments, users, and anyone with a desire to use such programs. The team behind Cardano ensures this is possible by building the network in layers.

These layers allow for smooth upgrades when necessary alongside easy maintenance. They are always future-proofing their system. The first layer was designed to run their original cryptocurrency, Ada. Similar to Ethereum, Cardano will utilize its extra layers to take advantage of smart contracts and decentralized applications.

Intended Use Cases

To develop decentralized applications and smart contracts with ease. Because of their academic background, the Cardano platform will focus on decentralized applications in that space.

Real-World Applications

The country of Greece may allow their citizens to prove their college degrees via the Cardano network. By pairing with GRNET, Greek universities are developing a private blockchain platform for showcasing and verifying diplomas and other qualifications.

Why would an investor buy Cardano?

Cardano differs from other coins in that it has a strong team behind it, alongside a scientific approach to development. Because of its multiple layers, this network is easier to scale and modify as advancements in technology are made. It is improving on the popular Ethereum platform.

Consensus Algorithm

Cardano runs on a proof-of-stake consensus algorithm. The more money a stakeholder invests, the more say they have on the platform. At a certain point, a stakeholder becomes a specialized node, giving them even more preference.

Transaction Speed

Around 250 transactions per second.

Cardano Supply

Current: 25,927,070,538 ADA

Maximum: 45,000,000,000 ADA

Reward per Block

Cardano cannot be mined. It is proof-of-stake, and stakers are rewarded with Ada tokens.

How many confirmations from nodes are required?

The honest majority. 50% + 1.

Network Fees

0.1641702 ADA. This is explained here.

Current Cost per Cardano

USD 0.166845

0.00002255 BTC

(April 3, 2018)

Cardano Market Cap

$4,325,802,084 USD

584,536 BTC

(April 3, 2018)

Found on coinmarketcap.com

Which Exchanges Support It?

A wide variety, with the main ones including Bitfinex, Binance, and Bittrex. Here is a full list.

Which Wallets Support It?

Cardano has its own wallet for storing Ada, the Daedalus wallet.

DAV ICO Review – The Network for Autonomous Vehicles

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

The idea behind DAV is one of massive proportion. With DAV, there will be a massive open-source hub network for self-driving vehicles of all kinds to communicate and work with one another.

This is the sort of thing that can only exist with blockchain technology, though there are a lot of external factors that the team must consider. Third-parties may need to play a big part in investment due to the slow growth of the autonomous vehicle industry. Should the industry grow, chances are high this project will see great success. Let’s break into the ICO and see if it’s worth your time and money.

Video for reference

ICO Details

Name of the ICO: DAV

Website: https://dav.network/

Token: DAV token

Hard Cap: 38M USD

Payment Methods: ETH

Total CS: TBA

Technology: Open source platform

Important Dates:

Pre-ICO: Now. 1000 ETH minimum

Public Sale: April 30th – May 14th

Whitepaper: https://dav.network/whitepaper.pdf

DAV wants to benefit the world of autonomous vehicles. Cars, drones, ships, and more will all be connected into one open-source peer-to-peer network and can transact, discover, and communicate with one another.

With this technology, the transportation industry will be forever changed. Travel expenses would be cut, and customers would save money overall. No longer would users need to own their vehicles. Instead, they would rent them on a case-by-case basis.

Project Use Case

Ideally, the DAV network would be used by all self-driving vehicles. Ships, land vehicles, aircraft, drones, and more. The hub would give consumers access to all of these via the hub, and owners of these autonomous vehicles could rent them out to the service rather than to individual consumers.

The blockchain would allow a decentralized network with transparency, security, and monetization at the forefront. It would be open-source as well, ensures community development via the provided SDK’s.

Team

The DAV team is made up of over 16 software developers, each from backgrounds like cryptocurrency, mobile and web apps, encryption, autonomous vehicles, artificial intelligence, and more. Also, there are 8 advisors, each of which come from places like NASA, GM, Ethereum, Equinix, and more.

Skill diversity is this team’s strong suit, with multiple members coming from a variety of backgrounds combining to solve problems from a wide variety of angles.

How Does The Token Work?

DAV Coin is a utility token. It is used to pay for a service, or rewarded for providing a service. Users can earn DAV by renting out their autonomous vehicle, a charger or docking bay for the device, or by providing support for insurance or repairs to the device. Otherwise, users spend DAV to rent the vehicles for transportation.

Eventually, the team imagines that users may not always be human. Instead, smart machines would rent the vehicles themselves to finish jobs.

How Will The Investor Make Money?

Without question, this will be a long-term investment. Investors should not go into DAV network expecting a quick return. Autonomous vehicles are still young, but DAV is one of the only ICO’s targeting this industry. Investors will grow the network’s infrastructure and will earn back their investment by supporting autonomous vehicles as a whole.

Third-party investors can also earn by providing services to the network, especially ones that help counter any risks with autonomous vehicles. Essentially, to support DAV is to support the autonomous vehicle industry, and vice versa.

Opportunities & Risks

The world of autonomous vehicles may still be a while off. Laws and regulations are still in the early stages, and people do not fully trust the technology. The success or failure of DAV relies entirely on the public’s acceptance of autonomous vehicles.

However, the team is only asking for $38 million in its ICO. Costs over the next few years could grow further past this, and the company will need support from corporate partnerships and other sources of revenue. That said, businesses like Uber, FedEx, and other transportation services could benefit greatly from the success of DAV coin so it may be in their best interest to invest.

Also, popular coin IOTA is focusing on smart technology as a whole. It isn’t nearly as focused as DAV, but the project is already working towards autonomous vehicles.

Overall Thoughts & Conclusions

Overall, DAV is a bold project with the ability to provide real innovation in the world of self-driving vehicles. They have a strong team with lots of experience, and they can help push people towards their vision of the future. However, autonomous vehicles are still a long way off, and DAV will need a lot of support to get their project along. If they can convince third parties to invest, they very well may have a shot at revolutionizing vehicles as we know them.

Ratings and Sentiments

Community: 3 Stars

Prototype: 4 Stars

Tokenomics: 4 Stars

Team: 5 Stars

Idea: 4 Stars

80% Positive

Autonomous vehicles are likely to be a big part in the future of our transportation industry. This evolving technology is a prime target for blockchain startups, and the DAV project is approaching it from a unique angle. As long as the industry cooperates (and a bigger token like IOTA doesn’t steal the thunder,) we very well may see a big success in DAV.

Stellar Lumens – Instant Decentralized Banking For The Masses

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

Introduction

Stellar Lumens (XLM) is intended to be an open-sourced platform that brings together consumers, banks, and payments systems into one network. Ideally, through Stellar Lumens, everyone will have access to a bank and a way to store money. Sort of like the blockchain equivalent of PayPal.

Video for reference

What Is Stellar Lumens & How Does It Work?

The team behind this cryptocurrency wants to make it quick, easy, and cheap to make transactions worldwide, similar to Ripple. In fact, Stellar Lumens is based on a fork of Ripple. It can do this thanks to the power of the decentralized blockchain technology.

Each of Stellar Lumens decentralized servers hold the ledger that keeps track of every single transaction made on the network. To use Stellar, you must upload either debit or credit card funds to the system, then Stellar changes those monies into a virtual currency that exists on the ledger.

This means you can instantly send funds across the world or to your next door neighbor. Cross-border transactions are automatically converted with the lowest possible exchange rate. The recipient only has to withdraw the funds and do what they want with it.

Also, Stellar Lumens allows users to put up orders on a public ledger to purchase or sell other types of currencies. You pre-set the rates for the order, so there are no exchange rate fees for any of the transfers. You can also look at the rest of the global marketplace and compare prices. This marketplace features both cryptocurrencies and real currencies.

It is an ideal technology for those who can’t afford to get a bank account, as transaction fees are incredibly small. Anyone needing to work with micro-payments or small loans can use Stellar Lumens to help them out. Also, with their focus on mobile banking, people can access these services right through their smartphone.

The Tokenomics

The Stellar network is robust. Each time you attempt a transfer, one of the following processes happens:

It converts your funds based on a previous order. Then, the exchange is made automatically.

Lumens, Stellar’s coin, is used for the exchange. The user giving away funds has them transferred into Lumens. The network then converts those Lumens into the recipient’s form of currency. This happens instantly and with almost zero transaction fees.

If for some reason, the transfer between two currencies cannot be made directly, Stellar’s network will automatically convert between multiple currencies until the final one is achieved.

These steps are applied on a case-by-case basis, and only when a user is transferring currencies from one form to another. Of course, all of the final transactions are handled within five seconds. There is no waiting for days for your money to process.

The Roadmap

Stellar Lumens doesn’t actually have an official roadmap on their website. Instead, they make blog posts updating the community on their work and their future goals. The most recent post has the following goals:

SDEX

The team behind Stellar wants to build their own exchange. It is codenamed SDEX, and it will enable automatic searching for the cheapest rates between trading pairs, incredibly low transaction fees, and user control of private keys.

Lightning Network

Stellar plans to incorporate Bitcoin’s “Lightning Network” into their own technology. Unlike Bitcoin, Stellar Lumens is fairly scalable and it is quick. They are only incorporating it to make a good network even better.

For this post, that’s all they have planned. Of course, there are moves to make the network even more scalable and increasing their partner number, as they expect a lot of attention in 2018.

The Team

The Stellar Lumens team is made up of developers and founders of various payment systems like Stripe and PayPal. The project was co-founded Jed McCaleb, who helped create Mt. Gox, the first ever Bitcoin exchange.

This team has some heavy hitters, however. In terms of advisors, they have Matt Mullenweg, the founder of WordPress, Patrick Collison, the CEO of Stripe, and Naval Ravikant, the founder of AngelList.

Community

Twitter: https://twitter.com/stellarorg

Reddit: https://www.reddit.com/r/Stellar/

Slack: https://slack.stellar.org/

BitcoinTalk: https://bitcointalk.org/index.php?topic=1428573.0

The Stellar Lumens team is a little less active than the teams of other cryptocurrencies. They don’t often post on Twitter unless it’s an event or content update, and the subreddit doesn’t see a lot of interaction either. Instead, the team is busy working on their technology and making it better.

Exchanges

Stellar Lumens has been around for a while, and it’s available on popular exchanges like Binance, Kraken, and Bittrex with multiple trading pairs. It will likely stay on these, as other popular exchanges like Coinbase are incredibly selective on the tokens they offer.

Wallets

Stellar is supported by multiple wallets, including Ledger, Stellarport, and Stronghold. They don’t have their own official wallet, but they work well with multiple desktop, mobile, and web wallets.

What’s Next For Them

Stellar Lumens aims to be the banking solution for the general public. Micro-payments and peer-to-peer transactions will work instantly on a global level, with almost no transaction fees. They don’t have much opposition, and the team is already well on their way in establishing this service. With their simple but efficient roadmap in place, the network will only get better, and may even be an emergent token in 2018.

What is DragonChain?

Coin Overview

Note: This piece was ghostwritten for a client. It is uploaded here purely for portfolio purposes.

DragonChain is a blockchain platform that enables companies to move their standard applications on to the blockchain framework easily. It is a serverless network that plugs into Amazon Web Services. While still in its early stages, DragonChain is compatible with current programming languages like C++, Java, and Python. Unlike Ethereum and other blockchains, where developers must learn new languages, DragonChain allows them to use these standard languages to build their smart contracts.

Moving applications over to a blockchain provides increased protection of data, faster speeds, and a reduced cost when dealing with clients. DragonChain also offers a space for startups to work on new projects with assistance from experts in the marketing and cryptocurrency industries.

What Makes DragonChain Work?

The DragonChain network has three systems: the platform the incubator, and the marketplace.

The Platform

The platform is where developers write and store their smart contracts. It is scalable, meaning that any applications will be compatible with Amazon or Google cloud services. All of the information here is entirely secure due to DragonChain’s built-in protection features.

The Incubator

The second stage is an Incubator for blockchain developers to work on new projects and startups. Here they are assisted in developing ecosystems with the potential for long-term success. Once a project is ready, it is shown to the world for review. Upon favorable review, the Incubator offers services to help speed up development and exposure. Think of it as a “starter-kit” for promising startups. Anyone can apply to start their project on the DragonChain website.

The Marketplace

The marketplace is a space for clients to access a group of experts from all across the board – each happy to help a startup market, organize, and further develop their projects. Also, developers will find access to a library of pre-made smart contracts for reference.

All of this is funded by the Dragon Coin (DRGN). It is used as a sort of license for each stage of the application development process.

How Is DragonChain Unique?

Unlike most blockchains, DragonChain is “currency agnostic,” meaning that teams can choose to have multiple currencies or not to have one at all.

Initially, DragonChain was funded by Walt Disney Co.’s Seattle campus from 2015 to 2016 before spinning out into the DragonChain Foundation. It currently runs as a non-profit, but it will launch commercially as DragonChain Inc. upon platform launch.

Ethereum runs similar to DragonChain, providing users systems to write smart contracts and develop applications. However, the Ethereum network puts users data at risk of exposure. Smart contracts are open by nature to provide complete clarity and encourage trust between two parties.

DragonChain implements a 5-layer security system to protect clients data:

  • Business (Approval) Verification
    • Where a business decides to make a transaction with another one.
  • Enterprise (Validation) Verification
    • Validates the information between the two businesses.
  • Network Diversity Verification
    • Requires three separate entities to sign for the transaction.
  • External Partner (Notary) Verification
    • An unrelated third-party that ensures diversity in signatures during the previous step.
  • Public Checkpoint Verification
    • A node will provide a bridge for clients to interact with other public blockchains and make the transaction.

Each step represents a higher verification level for blocks. This system allows clients to read a generated report on a foreign interaction before making a decision. It encourages trust between consumers and provides a safe way to engage in transactions.

DragonChain is considered a “hybrid system” because it is an open-source platform with enough security to ensure information stays private.

Conclusion

DragonChain’s advanced security features make it a worthy new platform in the crowded cryptocurrency space. The 5-stage security system, compatibility with previous languages, and solutions to scalability are poised to revolutionize traditional blockchain tech. Potentially giving Ethereum a run for its money, the DragonChain platform aims to launch later this year.