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    Cryptocurrency Daily Discussion - March 4, 2021 (GMT+0)

    March 04, 2021

    Cryptocurrency Daily Discussion - March 4, 2021 (GMT+0)

    Daily Discussion - March 4, 2021 (GMT+0)

    Posted: 03 Mar 2021 04:00 PM PST

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
    • Comments will be sorted by newest first.

    Useful Links:

    submitted by /u/AutoModerator
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    To all the small hodlers, keeping your coins at an exchange might be the best thing for you

    Posted: 03 Mar 2021 08:31 PM PST

    You might've seen several posts explaining why keeping your coins in a wallet is the best way to hodl. This is true, if you have a significant amounts of a particular coin because then you will be able to cover the expenses of transfer fees which vary from coin to coin.

    But with the rise of newcomers, not everyone can afford to buy large numbers of coins. And while you might be tempted to take your coins off an exchange, think about the amount you will spend for fees. For example the average fees for moving out ETH is 0.02 ETH (~$35) sometimes this is the amount most people have. Similar example can be applied to other coins as well.

    Another point is that exchanges are not un-secure anymore. They will store coins with high security measures. And you should enable things like 2FA to keep your account even more secure. So don't worry about your coins being in danger.

    If someone has any other suggestions please let us know.

    Edit: Tips from comments:

    1. From u/ACShreds - Gemini offers 10 free withdrawals per month so if you do want to withdraw coins, try buying from that platform although the fees are a little high compared to other platforms.

    2. From u/thegooddocgonzo - Although exchanges aren't fully safe, many big and reputable one like Coinbase and Binance will do everything to keep your coins safe because they don't want any bad reputation. The user also notes that Binance was hacked in 2019 and Binance made sure that no customer was impacted. Stay cautious of smaller and unknown exchanges.

    Edit 2: The withdrawal fee which I stated for ETH (0.02) was for the exchange I primarily use which is WazirX. I'm sorry for not mentioning the said exchange and for those asking where I got that figure here is your answer.

    submitted by /u/CarbonatedInsidious
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    Brave acquires open source search engine - in bid to offer entirely ‘big tech’-free search and browsing alternative to Google!

    Posted: 03 Mar 2021 06:14 AM PST

    Bayer using vechain to track clinical drugs on blockchain

    Posted: 03 Mar 2021 09:54 PM PST

    Google to Stop Selling Targeted Ads Based on Browsing History... I think Brave deserves some credit here ���� it's been a great day for brave in general

    Posted: 03 Mar 2021 03:55 PM PST

    2017's BULL RUN: Where did the Top 100 Cryptos Go??

    Posted: 03 Mar 2021 08:59 PM PST

    Where did they Go? How many survived?

    These Top 100 took place Dec 25th, 2017

    Not going to comment on all of them. I'll leave that up to everyone else.

    Also if I say "gone" it simply means out of the top 100 unless I say "Gone for good"

    Let's take a look...

    12/25/17

    Bitcoin #1

    Sill there glistening at #1, and no surprise there

    ETH #2

    Still there, and not surprised. Doesn't seem like Vitalik Buterin is going anywhere either.

    1. He might be eternal.
    2. Any normal person would've imploded out of existence by now being that skinny.

    He'll still be alive shilling ETH 27.0 long after I'm dead.

    BCash #3

    Roger Ver is still hanging around. This guy experienced the most hate, and even though he attempted to hi-Jack BTCs status, and went as far as buying Bitcoin dot com, the guy is no quitter.

    Ripple #4

    Centralized Decentralized? They're still hanging around at number #7

    LTC #5

    The silver? Of course! At #8 now

    Cardano #6

    The support I've seen this alt get. Wow. While I don't have any or ever did, I don't see this project leaving the Top 100 or the top 10 anytime soon. ADA sits at #3

    IOTA #7

    Now 26

    Dash #8

    Still top 100

    NEM #9

    Still top 100

    Monero #10

    Still top 100

    BTC Gold #11

    Still there. The influx of new investors not knowing anything is keeping this one in the Top 100.

    EOS #12

    Still here

    Stellar #12

    Still here comfortable at 11

    NEO #14

    Still top 100

    Verge #15

    Gone, Lost 100 spots

    Eth Classic #16

    Still top 100

    Tron #17

    Top 25. Tron dogs?

    Lisk #18

    2nd page

    NXT #19

    Fell off the cliff. Sub 500 now?

    Ardor #25

    Gone

    OmiseGo(OMG)#21

    Still top 100

    Zcash #22

    Still top 100

    BitShares #23

    Gone

    Bitconnect #24

    Gone for good. Will it be back? Umm umm NO NO NO!

    Stratis #25

    Gone

    Populous #26

    Gone

    Tether #27

    I don't know who these people really are. They could be bad or good for all I know. But one thing is for certain, these guys are really smart.

    A service where each coin is backed by an actual dollar? That simply means it can never be worth that much less than a dollar.

    They basically figured out how to be an exchange without actually being an exchange. They just let other exchanges do all the work for them. They take a really tiny fraction of the fees to use it, and simply reinvest it into a bank, and for each $1 profit put back to the bank creates another tether. The trading volume is always consistently high. They will keep growing and growing and growing. If they are allowed to still operate , and crypto sticks around for another few decades they might eventually take the number one away from BTC at $1ea

    I personally believe they started off inflated, gained money fast, and was able to reinvest back in before anyone could audit. But who knows. That's what I like to think. I'm happy that way. 😆

    Hshare #28

    Gone. Not sure where they went. Did they change their name? Or died for good?

    Bytecoin #29

    BCM had its days. It might not be back.

    Komodo #30

    Gone

    Siacoin #31

    Still top 100. Somehow.

    Doge #32

    Yup!

    Steem #33

    Great alt. It will be back up.

    Digibyte #34

    Still top 100

    Auger #35

    Will pop it's head up again.

    Veritaseum #36

    Gone

    PIVX #37

    lost 300 places

    RaiBlocks(Nano) #38

    Yup!

    Ark #39

    Gone

    MonaCoin #40

    Gone but Might come back. Japan's first crypto?? I believe.

    Decred #41

    Still here

    SALT #42

    Gone

    Golem #43

    Might pop it's head out again.

    Reddcoin #44

    Gone, But I think we will continue to see Reddcoin pop it's head into the top 100 from time to time. It's always been that way.

    Status #45

    Gone

    Ten X #46

    LoL, people had serious Fomo for Crypto cards back then. Don't get me wrong I like them but not everyone is going to be the next pay pal of crypto cards

    Electronium #47

    Gone

    Byteball bytes #48

    I believe Obyte now? Or did this guy leave for good? I used to own some. I forgot

    Bitcoin Dark #49

    😂. Gone

    Santiment Network Token #50

    I almost forgot this existed. Long gone.

    MaidSafe #51

    Gone

    VChain #52

    Still kicking

    BAT #53

    Still around

    SysCoin #54

    Out

    Civic #55

    Gone Could be back

    Bytom #56

    Gone

    Walton #57

    Remember this? People actually believed walmart started this one. RFIDs?

    Gone

    Power Ledger #58

    Might be back, might not

    ZCoin #59

    This got abandoned by the devs, then forked into Bitcoin Private, got shilled to the top 10, then died off.

    Won't be back

    DigixDao #60

    Gone

    0x #61

    Still around

    Kyber Network #62

    Gone, but this will come back I believe.

    Vertcoin #63

    Gone

    Qash #64

    Gone

    Factom # 65

    I liked this one But it's gone to 664

    Aeternity #66

    Gone and don't care

    Gas #67

    Gas is going up physically and digitally.

    Funfair #68

    Still hanging around. Showed it's head a couple weeks ago.

    GameCredits #69

    Gone

    Aion # 70

    Gone

    CryptoNex #71

    Gone for good i think

    Monoco #72

    Bought crypto. com

    BitBay #73

    Gone/untracked

    I believe a polish decentralized marketplace?. Had a ton of potential but I think polish government got involved. Didn't like the idea of decentralization. They were gaining traction fast.

    Correct me if I have the wrong country or wrong coin. lol

    Ethos #74

    EDIT: became voyager token VGX. Still top 100 and now 44ish. - credit to u/DemApples4u

    Einstienium #75

    Gone, but always loved that name.

    Gnosis #76

    Gone

    Dragonchain #77

    Gone

    Iconomi #78

    Gone for good

    Decentraland #79

    Still hanging in there

    GXshares #80

    Gone

    ChainLink #81

    Better believe it. It was $0.57 then.

    Dent #82

    Gone but will be back

    Nexus # 83

    Gone but has potential

    Digital Note #84

    Way gone

    Request # 85

    Gone

    Substratum #87

    Way gone.

    Edgeless #88

    Hitched a ride with Substratum. Lol

    Blocknet #91

    Gone

    Raiden Network #92

    Gone but lots of potential.

    Ubiq #93

    Gone

    SONM #94

    Gone

    Centra #95

    Gone for good

    Bancor #96

    Still around!

    Metal #97

    Might get pump and dumped during a bear market.

    NavCoin #98

    Gone, but it's legit. Don't count it out for good.

    Storj #99

    Gone

    Times New Bank #100

    Gone Never owned it and still don't know what the hell it is.

    Again when I say gone I simply just mean off the top 100. ;)

    How many are still top 100?

    32, that's less that 1/3

    How many left?

    68 2/3rd

    That's how many alts fell off the top 100.

    How many gone for good? 10 give it take

    According to previous bull run data from 2013(pre-ethereum era), 33 out of 37 are gone.

    There's no reason to doubt at least 50 alts we see in the top today won't be in the top 100 in a few years. Doesn't mean they will all die, and many of these older ones are still in the top 200

    Just simply means your long term HODLs outside of the top 10 have a 55-60% chance of not working out well for big gains.

    That only makes sense.

    As of now we don't need 1000 Different Cryptos yet. So you better believe many on top today won't be here another day. What we need privacy, it's our #1 concern really.

    We need digital to protect against centralized fractional reserve banking that makes your $1 worth $0.01ea, and of course infinite scalability.

    We will always need Altcoins. BTC is great gold king, and will always be that way I believe. However, those dam gas fees. Even eth.

    The more adoption we get the more alts will be needed.

    submitted by /u/JuicySpark
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    Top 20 CryptoCurrencies and their upcoming/recent updates

    Posted: 03 Mar 2021 04:01 PM PST

    I saw the a few people posted the use case, FUD and also their pros and cons. Well I thought that knowing what a coin or it's dev team has on their roadmap for future can be a useful piece of information in making decisions about investment. Some coins/tokens really aren't having any future updates so their current/most recent update is therefore listed.

    The "Top 20" is from coinmarketcap rankings. I am not trying to make a statement that top 20 mean the 20 greatest or my perspective. These were the top 20 at the time of posting on coinmarketcap. I also suggest you to consider this a concise/one line version describing the upgrade. For more details, I recommend you look up the internet based on the information below.

    Top 20 CryptoCurrencies and their upcoming/recent updates:

    1. Bitcoin (BTC) : Bitcoin network is expected to have the "Schnorr signatures". This solves some issues with privacy and scalability. This upgrade if passed, is expected to lower bitcoin transaction fee and also improve privacy of the holders. It also paves the way forward for Lightning network and Coinswaps.
    2. Ethereum (ETH) : The EIP-1559 is the next intended upgrade to the ETH network. It revamps the GAS payment methods. Instead of auction type GAS payments, it introduces BASEFEE methods. It is expected to make GAS fees "predictable" but might not have a great effect on reducing the fee. It also introduces a deflation to ETH tokenomics as BASEFEE paid is burnt. And of course ETH 2.0 too but it's bigger to discuss here.
    3. Cardano (ADA) : Cardano currently launched the mary update to allow multi assests on the cardano network. It is part of the "Gougen" era of cardano, which plans to introduce smart contracts and DeFi just like ETH to ADA network and unlike ERC-20 standard, cardano is trying to implement native ledgers for these multi asset tokens.
    4. Binance Coin (BNB) : BNB is the native token of the Binance Smart Chain(BSC). Currently, the news/update is that new DeFi platforms like existing PancakeSwap are being developed on it and also 1Inch has extended support on BSC. Little is known about any distant updates as only source for news is either CZ or Binance themselves.
    5. Tether (USDT) : Tether recently settled their lawsuit about the "lie" of having a stable token with backed assets. They are going to pay $18.5 Million in penalties.
    6. Polkadot (DOT) : Parachains, the building blocks of the polkadot network are currently in the "rococo" phase and parachains are on test networks. Once they are tested, they'll be rolled onto the kusama network which helps devs see real network effects which aren't available on general testnets. When they pass on kusama too, we'll see first good parachains launch on DOT network via governance.
    7. Ripple (XRP) : Ripple is still fighting with the SEC regarding the "unregistered security" case and many exchanges have an approach of wait till it settles and make a move. Co ordinated buying attacks have happened . Although SEC has strong evidence, it is being viewed as an overkill attempt to regulate crypto and is believed to just be FUD. You figure what is what...
    8. Chainlink (LINK) : Chainlink has launched OCR "Off chain reporting" to their mainnet. What it does is it increases the amount of data oracles on network can bring on chain to 10x and 90% reduction in on chain costs according to Chainlink's Sergey Nazarov. More data output means more data can be brought on chain by DeFi which means more innovation on network.
    9. Litecoin (LTC) : Litecoin is getting closer to launch it's MimbleWimble upgrade. It brings the feature of "opt-in" privacy to transactions and increases scalability. The date of launch is believed to be at around March 15.
    10. Bitcoin Cash (BCH) : Bitcoin Cash will undergo an upgrade at around May 15th. I am not familiar with BCH and I was unable to find any official source on what the upgrade will be except from discussion and personal views. I'd be happy if anyone suggested an edit here.
    11. Stellar (XLM) : After announcing samsung intergration in july, the crypto exchange and finance firm Abra announced that they'll be introducing traditional finance like banking to people without crypto knowledge on the XLM Blockchain. And Ripple battling SEC, XLM is expected to see adoption as both XRP and XLM initally wanted to serve the payments segment of crypto.
    12. USD Coin (USDC) : After launching USDC on the Stellar network, the Floating Point Group (FPG) now is bringing USDC onto the Algorand network as USDCa. It aims to streamline and increase the capital efficiency for institutions compared to conventional transfer.
    13. UniSwap (UNI) : The DEX Uniswap is expected to have an upgrade to UniSwap v3. The tokens swaps in native forms are raising gas prices. An L2 solution is expected which is rumoured to be zk-Rollups that take the work off chain. Liquidity mining is also expected to have new farms and also a better UX for users.
    14. NEM (XEM) : On March 15, NEM will transition from N1S1 to Symbol. Symbol is described as a "trusted, secure value exchange network for business. Symbol smooths business friction, increasing the flow of data and innovation to supercharge the creation, exchange and protection of assets.
    15. Dogecoin (DOGE) : Dogecoin recently had a recent core upgrade 1.14.3. It made significant improvements to the speed at which a node can upload blocks will be made by removing expensive integrity checks which were previously carried out each time a block was sent to another node after the update is applied.
    16. Wrapped Bitcoin (WBTC) : It is a wrapped version of BTC on ERC20 and I wasn't able to find any upgrades. I would be happy if someone suggested an edit here.
    17. Aave (AAVE) : Aave and Balancer recently announced their partnership. under the partnership a part of each liquidity pool on Balancer will become available to deposit on Aave, where it will facilitate lending. This process will be controlled by Balancer's asset manager, which automatically supplies tokens to Aave when they are not needed in the pool.
    18. Cosmos (ATOM) : Cosmos recently upgraded to Stargate. Stargate represents an important milestone for the Cosmos project on the way to launching its inter-blockchain communication (IBC) protocol that will allow the 200+ Tendermint-based blockchains to interoperate easily. It also brings some features, the chain will run more efficiently, upgrades will be much faster and full nodes will be able to sync up more quickly.
    19. Monero (XMR) : The Monero devs are working on making Monero more easier to use. The current most awaited feature in XMR space are the atomic swaps. Atomic swaps allow users to swap between BTC and XMR smoothly on a single DEX. This might not sound incredible, but it is. As exchanges crackdown on monero trading...it's difficult for people to buy and sell XMR. With atomic swaps, they can in future just convert from XMR to BTC and trade.
    20. Solana (SOL) : Raydium, the first AMM(Automated market maker) on Solana Blockchain was launched on Feb 22. The release of Raydium helps to bring the SOL ecosystem one step closer to being a viable competitor for DeFi on Ethereum.
    submitted by /u/UrMuMGaEe
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    PSA - Fake Trezor app on IOS App Store - Asks you to input your 24 word seed to 'sync your Trezor' - Please report the app on your app store

    Posted: 03 Mar 2021 12:43 PM PST

    I stumbled upon the app after discussing the Trezor suite for windows/mac (which is legit by the way)

    The app says its 4+ years old yet has no reviews, first red flag.

    The app looks alright, has the same feel as I would expect from Trezor

    Straight away asks for your 24 word seed to sync your Trezor, second red flag and alarm bells start ringing.

    So I do as I do usually and check reddit. Cant find anything on /r/CryptoCurrency (my apologies if I missed a post about this already on here, but..you know.... reddit search)

    Found this post on /r/TREZOR saying its a definite scam: https://np.reddit.com/r/TREZOR/comments/lun0l8/fake_trezor_ios_app/

    Then checked Trezor.io and found

    iOS Trezor Wiki/Glossary/Trezor/Common device terms/ IOS iOS is the mobile operating system by Apple. Use of your Trezor device on iOS is currently not (yet) supported.

    If you're on iOS please go to the app store and report it.

    I can only imagine being a semi-noob and not being as vigilant or aware of the warning signs and getting all my shit stolen.

    Edit: The app is just called "Trezor", I didnt want to link incase a bot flips its shit.

    Edit 2: I just worked out that the age being 4+ is the age rating, not the age of the app

    Edit 3: Its 6 hours since I wrote this post and it looks like the app is off the store. I can't see it anymore but if you've downloaded it I think you can still report. I couldn't figure out how to report so emailed apple support and don't really expect a response.

    Check the link of the other post above from r/Trezor and you can see what the app looked like incase it reappears.

    submitted by /u/IHaventEvenGotADog
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    If you can only afford to invest a few dollars in crypto but still want to then do it! Not everyone can afford thousands but you are still welcome in this space.

    Posted: 03 Mar 2021 11:37 AM PST

    I've seen some pretty nasty comments towards small time investors in some or the discord channels I follow recently.

    Crypro isn't just for the rich, everyone is welcome here and by buying bitcoin and other cryptos you are investing in the future.

    If someone had invested just 1 dollar a month back at the start they would be minted right now.

    Ignore the haters and if you want to buy in, do just that. Just remember to only invest what you can afford to lose!

    submitted by /u/Dangeruk
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    Never thought I (and many others) would get paid this way

    Posted: 03 Mar 2021 08:32 AM PST

    Who could've thought we could earn money by posting about the stuff we love? Didn't teachers told us back the that our stupid hobby's/our wasted time wasn't going to pay bills?

    Heck yea, now we can by posting articles, upvoting and commenting on the things we like to do.

    • Got some time while sitting on the toilet? Upvote what you like and start earning!
    • swipping on the job, see anything you wanna share? DO IT and start earning some moons!
    • wasting time while traveling to work (don't use your mobile phone while driving!!!)? Get browsing and upvote the articles you like!

    We have arrived at the future of earning passive income while reading what we love.

    Open your vault today! Stay safe cryptofam.

    submitted by /u/Jeremykla
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    Mark Cuban Slams Peter Schiff: Gold is Dead, Bitcoin and Ethereum Are Today

    Posted: 03 Mar 2021 09:28 PM PST

    Things you can do with Nano so far.

    Posted: 04 Mar 2021 01:57 AM PST

    Ultimate Staking Guide 2021: Overview of Best Crypto-Projects to Stake with PoS and DPoS (Profitability, User Experience, Low-Risk) ����

    Posted: 03 Mar 2021 06:04 AM PST

    In this post, I would like to expand on the growing interest in staking by expanding on Passive income post by u/Weaver96 and Beginner's staking guide by u/GajarCroissant . Everything in this post is relevant for the year 2021. If you would like to read this in a PDF click here.

    Edit1: Corrected some things around based on feedback. Moved disclaimer about sources. Edit 2 will bring more projects

    If you think that this list excludes an interesting project, please comment and list some sources. I will edit the post and add them in.

    Table of contents:

    Staking and methodology

    1. TLDR: Summary Table of Projects (Profitability, Ease of staking)
    2. Glossary
    3. Why to stake in a Native wallet vs Third-party wallets vs Exchanges
    4. Overview of projects and useful links
    5. Sources and declaration of conflict of interest

    0. Staking and methodology

    Staking cryptocurrencies is something that may interest a lot of retail investors who do not wish to participate in active trading. Staking allows a coin holder to receive passive income through a reward or forging system.

    The number of coins or tokens that you have or the amount you are willing to stake will affect the quantity of staking rewards. It's a bit like a savings account but with much greater freedom and a decent profit.

    Staking is in its essence basically a form of mining, that rewards the users of the blockchain network, because the users of the specific project chose who their Node operators and ultimately Staking providers are. These operators are called miners for coins like Bitcoin. However, staking uses fraction of electricity and computational power that bitcoin mining needs, while still keeping the network running. Poetry of blockchain engineers.

    I decided to make a comprehensive guide that will cover a glossary regarding staking and other blockchain terms. The main take-away should be a closer look at a list of projects that I will compare based on how profitable, prospective and user-friendly they are.

    The choice of projects featured includes popular, innovative and original projects. I have either direct experience with these projects or I have researched and tested them out. In my opinion, these projects are relatively low risk.

    I studied 40+ projects and eventually limited my choice to 9 blockchain networks. This journey was actually really interesting.

    Before starting it, I was staking in 2 projects and I thought the market was flooded with projects covering insane staking rewards and incredible possibilities. I went to the opposite end of what I know from my experience and researched ERC20 staking – realizing it is complex and risky.

    Therefore, I focused on user experience and risk mitigation. This led to a rabbit hole of discovering new and amazing projects. I slowly started to realize one very common denominator for the best staking projects. All of them are focused on creating technology for block-chain interoperability, deploying their own blockchains and parachaining. Each has its own unique take on how to solve this crucial factor for adoption (covered in Chapter 4). This reasoning is clearer when you understand the difference between Proof-of-work and Proof-of-stake.

    The foundation of the tech behind the projects should be a major point of interest when comparing these products over their profitability. One of the deciding factors was also the development activity behind these projects (https://twitter.com/ProofofGitHub). That is why extreme profit projects with 0 tech are not listed here.

    To make this guide a bit more interesting I had a couple of crypto beginners try out this selection of projects and noted their opinion in the evaluation part of this guide.

    Important notes:

    • Any project with less than 3% annual rewards is not included (eg. EOS, NEO, TRON, VET, LSK, XLM).
    • As mentioned, sometimes there is a risk associated with staking (usually very high-profit types with 20% and more yearly interest). This means that any project that has a risk of losing the staked amount or significant rewards is also excluded.
    • ERC20 tokens are also excluded as their staking is more complicated and riskier. DOT and KSM are exceptions because their slashing is negligible for users (not validators, however).
    • Exchange staking is included briefly as it also carries a risk but that is mainly in the concept of not your keys, not your coins axiom.
    • I decided not to include ETH 2.0 in this guide, because it means locking a large number of assets until it launches (so do your own research after you finish this guide).

    1. TLDR: Summary for Staking in Native Wallets

    I decided to start this post with a summary, because there would be a wall of text before the "good stuff". I hope this summary will motivate you to read through the rest of the post and find the logic and reasoning behind it. I decided not to give any project an overall rank and listed them alphabetically (there is no best to last, that is for you to decide). Instead, I summarized key features, profitability and evaluated UIX (from crypto-beginners) and tech aspects (by studying whitepapers and roadmap completions).

    Some projects have grown in a way that staking was always available only in third-party wallet and since that is their native environment, they deserve a place here.

    Staking in native wallets will always be the most secure way to stake your coins. Never forget to back‑up your seed phrases.

    If some terminology in this table is not clear – head down to the glossary in the next chapter. Every single evaluation category in the table is explained in project overview of Chapter 4.

    Table 1: Native wallet - profitability

    Project Coin Native Wallet APY % Lock-up period Pay-out
    Algorand ALGO Yes 6.5 % None Transaction claim
    ARK EcoSystem ARK Yes 8-9.5 % None Daily
    Avalanche AVAX Yes 9.2 % 14-365 days After lock
    Cardano ADA Yes* 4-5 % None 5 days
    Cosmos ATOM 3rd - party only 10.5 % Variable** Claiming with fees
    ICon ICX Yes 13 %*** 5-20 days 5-20 days
    Kusama KSM Yes 14 % 7days Claim (21 days expire)
    Polkadot DOT Yes 9-12 % 28 days Claim (84 days expire)
    Tezos XTZ 3rd - party only 5-6 % None 20 days to confirm 3 days****

    *ADA native wallets are developed by third-party but they are exclusive to ADA

    ** ATOM locking period depends on user but to switch delegation you have to wait 21 days.

    ** ICX interest changes a lot, can be from 6-30 %, overall is about 10–16 %

    *** Tezos requires to initially confirm assets for about 14-20 days. So PoS rewards kick in after time, then rewards pay out every 3 days.

    Table 2: Native wallet – features and evaluation

    Coin Consensus Ease of staking Tech User experience
    ALGO PPos* Easy 7/10 8/10
    ARK DPoS Easy 10/10 10/10
    AVAX PoS Moderate 8/10 8/10
    ADA PoS Easy 10/10 10/10
    ATOM PoS Moderate 10/10 8/10
    ICX DPoS Easy 9/10 8/10
    KSM DPoS** Hard 9/10 4/10
    DOT DPoS** Hard 9/10 4/10
    XTZ PoS and DPoS Easy 8/10 7/10

    *PPoS is a form of PoS where anyone on the network can decide what to do with blocks –achieving great decentralization level

    **Dot's and Kusama's DPoS is called NPoS, but is just DPoS with possibility to punish bad delegates (slashing)

    2. Glossary

    Table 3: Essential blockchain terms

    Term Explanation
    Blockchain Immutable or permanent ledger (registry) maintained in multiple locations known as nodes.
    Node A software instance on a Blockchain network responsible for participating in consensus, maintaining the ledger, servicing or relaying transactions, or all of the above. A node is the most basic unit and critical part of a blockchain infrastructure.
    Node operator Person or group of people responsible for maintaining a node. A network refers to all nodes in the operation of a blockchain at any given moment in time.
    Network Collection of nodes that communicate with one another to form a system.
    Transaction An exchange of data or value between Blockchain addresses or networks.
    Consensus General agreement between node operators on the state of the Blockchain and/or ledger. In decentralized systems, which are composed of a multitude of node operators the decisions are made collectively.Consensus is needed to provide the state of the network.
    Finality Property of a Blockchain network that determines how well the consensus mechanism can render new blocks immutable (permanent)
    Consensus mechanism Method by which consensus is reached, which can vary drastically based on the protocol. Examples include Proof-of-Work, Proof-of-Stake, and Delegated Proof-of-Stake.
    Proof-of-work Prime example where this mechanism is used is Bitcoin network. Where miners race to solve complex mathematical problems, adding new blocks and generating new coins to validate transactions. Miners consume large quantities of electricity to do this.

    Table 4: Staking Glossary

    Term Explanation
    APY % Annual percentage yield
    Ease of staking A metric considering the difficulty of set up to earn rewards via staking. Either explaining how hard is it to get your assets to start staking, how much is the minimum amount of tokens for staking and how much attention you have to bring staking.
    Easy: Very fast setup, No fees and extremely small minimum stake, none or small lock period, fast payouts and very occasional attention to status.
    Moderate: More hassle when setting up staking account, minimum stake required, lock up periods, payouts take longer or require unbonding, can require claiming rewards.
    Hard: Abysmal user experience, high entry point, long lock-up periods, payouts after lock-up periods, payouts with long unbounding or claiming, expiration of rewards.
    Native wallet Wallet developed by the team behind the blockchain project. First functionality of it is built exclusively around the native token. Provides highest amount of security for staking. Many native wallets are expanding beyond and depending on project development allow holding new assets through interoperability, testnet tokens or even top crypto coins.
    Third party wallet Well known multi-asset wallets like Exodus or Atomic wallet that started to allow staking within their interface.
    Exchange staking Locked staking on an exchange, there is some risk but can be profitable.
    POS Consensus mechanism where all coin holders enter a lottery to add new blocks and receive new coins, weighted by the holdings within each address. Consumes far less electricity than PoW.
    DPOS Consensus mechanism where Staking providers are voted in by coin holders are reponsible for maintaining the ledger, adding blocks, and generating new coins. Since DPoS is a form of democratic governance. The Staking providers share their proposals of how they will share rewards and help the network.
    Staking pool Pooling funds together with other investors for staking is similar to the concept of pooling hashing power in mining pools.
    Staking provider Ensures consensus on the network for providing staking rewardsGeneralized name for the terms: Delegate, Delegation services, Delegator, Generator, Producer, Baker, ValidatorSome networks can utilize 2 or more of these specific examples to differentiate roles if needed.
    Staking hierarchy You are a Voter – You vote for Staking pool or Staking provider – Staking pool or provider are Node operators (validators) that confirm transactions on the blockchain network and that share the rewards with Voters
    UIX / UX User interface experience, User Experience
    Stake The number of coins or token that participate in staking.
    Vote / Voting Transaction type that assigns your tokens to a Staking Provider and determines your Vote Weight. Most common cases. A small fee transaction to choose Staking provider that assumes all assets on the address you vote from as voting power (Flexible) OR Requires committing assets as Stake voting (Not Flexible)
    Flexible Stake / Flexible Balance You only have to vote from your address to stake pool or a delegate and all assets on your address are assumed to participate in the voted pool. You can move your tokens anytime and proof-of-stake is calculated from minutes to hours.
    Stake Voting / Stake Lock / Staked Balance Where one token represents one vote in the network. The total number of coins that have used the voting right to indicate preference for a Staking Provider. A vote where you commit an amount of tokens through a transaction to your staking pool (Quite often requires locking, bounding)
    Vote Power / Vote Weight Quantifiable amount of influence that a voter could assign to Staking Provider. Determines your staking reward among other network-specific things based on the project you are supporting. In Flexible Stake it is usually all the assets you have on your address. In Staked Lock you usually chose how much vote power you have specifically.
    Slashing A form of punishment for delegated in DPoS that are not working properly and are trying to game the system.

    3. Native wallet vs 3rd-party wallet vs Exchange staking

    Native wallet summary was already included above in Chapter 1 and is the safest form of staking where you own your private keys. I advise to always make good research on how native wallet staking is available for the projects you research.

    Third party wallet staking is a good option if you find a reputable wallet. The choice of third party wallets are included in Chapter 4 project overview. In general: Exodus, Atomic, Huobi, Guarda

    Table 5:

    Project Coin 3rd party wallet APY % Lock-up period Pay-out
    Cardano ADA Yes* 4 % Yes and no 5 days
    Algorand ALGO Yes 6.2 % Yes After
    ARK EcoSystem ARK No - - -
    Cosmos ATOM Yes 10 % Yes Claiming with fees
    Avalanche AVAX No - - -
    Kusama KSM No - - -
    Polkadot DOT Yes 8 % Yes After
    Icon ICX Yes 10 % Yes After
    Tezos XTZ Yes 5.4 % None 3 days

    *More wallets beyond Daedalus and IOHK

    ​

    Exchange staking can be useful for some, but dreadful for others. Never forget, not your keys not your coins.

    Table 6:

    Project Coin Exchange staking
    Cardano ADA Yes
    Algorand ALGO Yes
    ARK EcoSystem ARK Yes
    Cosmos ATOM Yes
    Avalanche AVAX Yes
    Kusama KSM Yes
    Polkadot DOT Yes
    Icon ICX Yes
    Tezos XTZ Yes
    Exchange specifics: - -
    APY % Changes quite often on every exchange. Always check the current rate. Can be sold out and therefore not available.
    Lock up period Always happens on exchanges. Typically: 14 days 30 days 60 days 90 days
    Pay-out After unbonding

    4. Project overview and useful links

    Algorand (ALGO):

    Algorand is a decent staking project considering profitability and ease of stake. It is so easy that all you have to do is move your Algo to their wallet and you are staking. There is no lock-up period for receiving rewards. They are calculated to your address in a pending form just by being part of the network. To claim them however one needs to send or receive a transaction (even if it is a 0 Algo message over blockchain). Their main goal is to work with banking institutions.

    Website: https://www.algorand.com/

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

    How to stake:

    https://coinlist.co/stake/algorand

    https://www.algorand.com/resources/blog/rewards-technical-overview

    Tech: https://www.algorand.com/resources/white-papers

    Upcoming tech: https://messari.io/asset/algorand/profile

    ARK Ecosystem (ARK):

    Very nice profitability and extremely easy to stake in native wallet. Requires only to download their easy-to-use native ARK wallet and vote for a Staking Provider (delegate). The wallet has downloadable plugin for rewards calculation to help chose a delegate based on your voting power.

    Ark staking is risk-free. Your assets are never committed or locked and rewards are calculated and paid out daily. So you can see your balance rising everyday and the daily rewards are calculated towards your new staking reward the next day.

    ARK has been one of the pioneers in blockchain interoperability solutions since 2017. The team behind ARK has been delivering everything on their yearly roadmaps and has some amazing products lined up for Q1 of 2021. They are very active in development (https://twitter.com/ProofofGitHub)

    Website: https://Ark.io

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

    How to stake:

    https://ark.dev/docs/desktop-wallet/user-guides/installation

    https://ark.dev/docs/desktop-wallet/user-guides/how-to-vote-unvote

    https://arkdelegates.live/delegates - for DPoS proposals

    https://ark.dev/docs/desktop-wallet/introduction-to-ark-rewards

    Tech:

    https://ark.dev/

    https://ark.io/Whitepaper.pdf

    Upcoming tech: https://ark.io/roadmap

    Avalanche (AVAX):

    Fairly new project that had main-net launch in Q4 of 2020. As usual around main-net launches the price rocketed and is now consolidating. The staking rewards are decent for AVAX, however, setting up staking accounts is a bit more tricky for beginners. There is a variable lock-up period that the user can freely choose from and rewards are received after this period. They have yet to prove what they promised in whitepapers, but the ambitions are interesting.

    Their main net is pretty interesting though: https://www.avalabs.org/why-avalanche

    Website: https://www.avalabs.org/

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

    How to stake:

    https://medium.com/avalancheavax/staking-avax-by-validating-or-delegating-with-the-avalanche-wallet-f4d9adc182a6

    https://docs.avax.network/learn/platform-overview/staking

    https://docs.avax.network/build/tutorials/nodes-and-staking/staking-avax-by-validating-or-delegating-with-the-avalanche-wallet

    Upcoming tech:

    https://www.avalabs.org/whitepapers

    Cardano (ADA):

    Also a project from 2017 that probably will have the biggest recognition on this list. They never failed to deliver what they promised and should be considered one of the most solid projects in this list.

    Their might have one of the lesser staking profitability on this list but they make up for it with the great ease of staking. Rewards are paid out automatically every 20 days and the assets of the addresses are never locked. Calculations are done daily so it considers your transaction history during the 20 days. Therefore it is risk free. Their "native" wallets Daedalus and Yoroi are easy-to-use.

    Some great news are coming from Cardano in the upcoming months so be sure to have them on your watch list. They recently hard-forked to allow more interoperability with chained tokens. They are also very active in development (https://twitter.com/ProofofGitHub). They are a Top 3 crypto project for a reason.

    Website: https://cardano.org/

    Reddit:

    How to stake:

    https://www.youtube.com/watch?v=OUZKSS_cJIE&ab_channel=IOHK

    https://www.youtube.com/watch?v=DCMX1wFgrJY&ab_channel=IOHK

    https://medium.com/cardanorss/staking-for-beginners-a-step-by-step-guide-6dda110b2454

    Tech:

    https://cardano.org/discover-cardano

    https://why.cardano.org/

    Upcoming tech: https://roadmap.cardano.org/en/

    Cosmos (ATOM):

    Cosmos has generous profitability and decent ease of staking. The coin can be staked in many wallets due to integration of their SDK in them in order to vote for Staking Pools. The only tricky part is the fact that you have to claim your rewards with a fee to the network.

    Cosmos launched in Q1 of 2019 and they just recently finished their first whitepaper and launched their new road map of Stargate. This proves that they can deliver what they promise. They are also very active in development (https://twitter.com/ProofofGitHub)

    Website: https://cosmos.network/

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

    How to stake (3rd-party tutorials):

    https://blog.chorus.one/top-cosmos-wallets/

    https://medium.com/everstake/how-to-stake-cosmos-atom-via-the-cosmostation-mobile-wallet-1feeff03b6b3

    https://atomicwallet.io/cosmos-atom-staking

    https://support.exodus.com/article/1403-cosmos-staking-faq#:~:text=First%2C%20open%20your%20Cosmos%20wallet,on%20the%20button%20Stake%20Cosmos.

    Tech:

    https://cosmos.network/cosmos-whitepaper.pdf

    https://www.coindesk.com/cosmos-upgrades-to-stargate-another-2017-ico-very-nearly-completes-its-vision

    Upcoming Tech: https://stargate.cosmos.network/

    Icon (ICX)

    This Korean based blockchain that started of as an ERC20 has very genours profitability and moderate ease of stake. They are deeply embedded in Korean strategic partnerships and seem to be delivering on their roadmap.

    They separated from ERC20 base to their on blockchain during 2018. They are now one of the most profitable staking projects.

    Website: https://icon.foundation/?lang=en

    Reddit:

    How to stake:

    https://medium.com/everstake/detailed-guide-to-icon-icx-staking-and-voting-how-things-do-exactly-work-d650e75f5ab9

    https://stakedtech.medium.com/icon-icx-a-complete-guide-for-staking-on-icon-network-using-ledger-nano-aa1f45257133

    Tech: https://icon.foundation/resources/whitepaper/ICON_Whitepaper_EN.pdf

    Upcoming tech: https://medium.com/helloiconworld/icon-development-roadmap-update-february-2021-3b5897957094

    Kusama and Polkadot (KSM and DOT)

    Kusama is a canary network of polkadot and works on the same principles so I put these together. Both have one of the most profitable stake value in their native wallets and exchange staking. However, the ease of staking in their native wallets is pretty hard for beginners. This coupled with lock up periods and claiming rewards and their possible expiration does not create a good user experience. One could compare that the profitability makes up for that but having it on your mind all the time is a negative experience.

    However, they are backed by huge VC and have very ambitious tech lined up. They have yet to prove what they are capable of.

    Website: https://kusama.network/

    https://polkadot.network/

    Reddit:

    https://www.reddit.com/r/Kusama/

    https://www.reddit.com/r/dot/

    How to stake:

    https://medium.com/stakin/how-to-stake-kusama-ksm-4529a48bb4e8

    https://support.polkadot.network/support/solutions/articles/65000168057-how-do-i-stake-nominate-on-polkadot-

    Tech: https://whitepaper.io/document/596/polkadot-whitepaper

    Tezos (XTZ)

    Tezos has an acceptable profitability and moderate ease of staking. There are is an confirmation period of 14-20 days where you commit your adress to a baker and when your assets are confirmed by the network the pay outs roll in every 3 days. You are free to use them and get pay outs very regularly. They are a liquid network so you will have to vote for Staking providers.

    You vote simply by delegating funds to a baker they agree with while bakers(validators) actually cast a vote during the on chain governance process.

    Tezos uses a variation of a Proof-of-Stake system that differs slightly from established models in that block producers are not selected by token holders and anyone can participate as a baker (validator) if they hold a specified amount of tokens. Token holders that do not meet the minimum threshold can delegate their tokens to a baker without needing to relinquish control of their tokens.

    Website: https://tezos.com/

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

    How to stake (3rd party only):

    https://baking-bad.org/docs/tezos-staking-for-beginners/

    https://support.exodus.com/article/1300-tezos-staking-faq

    https://atomicwallet.io/tezos-staking

    Tech: https://tezos.com/static/white_paper-2dc8c02267a8fb86bd67a108199441bf.pdf

    https://tezos.com/static/position_paper-841a0a56b573afb28da16f6650152fb4.pdf

    Upcoming tech: https://messari.io/asset/tezos/profile

    ​

    5. Sources and conflict of interest

    Sources

    https://coinmarketcap.com/alexandria/glossary

    https://ark.dev/docs/glossary/glossary

    https://www.stakingrewards.com/

    https://cointostake.com

    https://coinmarketexpert.com/

    Subreddits of these projects

    Websites and whitepapers of every project

    Conflict of interest

    I am an active member of communities in following projects: ARK, ADA, DOT, ATOM.

    I stake these coins: ARK (last 2.5 years), ICX (recently)

    I own some Polkadot but do not stake it.

    submitted by /u/icysx
    [link] [comments]

    Grayscale Purchases 3,347 ETH In The Last 24 hours

    Posted: 03 Mar 2021 04:12 PM PST

    Beware of Crypto scam - BEWARE YELLOW STAR INVESTMENT GROUP

    Posted: 03 Mar 2021 03:13 PM PST

    Just wanted to warn everyone that the company 'Yellow Star Investment Group' is pretending to be a cryptocurrency investment company and is most definitely a scam.

    ​

    I was given an employment contract to work for them and a couple assignments ultimately leading to them asking me to go to a bitcoin ATM and buying coins on their behalf. On looking this company further, there are a ton of red flags. The company has no reviews and really no papertrail, the ten members of their team have no online presence and clicking on their names doesn't go to any profiles or anything, no.. it just goes back to their main webpage.

    ​

    The website looks very professional though is ultimately quite rudimentary. This is just a warning - do not invest money with them and do not work for them. The HR lady will pretend to be professional and give you a fair interview but ask any questions and she will ghost you. She also has no online presence whatsoever. Beware of Yellow Star Investment Group!

    submitted by /u/nonameattachedforme
    [link] [comments]

    President Biden’s pick for chairman of the U.S. Securities and Exchange Commission is open to the use of digital currencies,

    Posted: 03 Mar 2021 07:43 AM PST

    In case you haven't cashed out all the free 'Earn' crypto on Coinbase/CMC, here they are with answers - At least 61 USD at current value.

    Posted: 03 Mar 2021 02:50 PM PST

    Surprisingly many has no idea this even exists, so I made a spreadsheet for my friends, and might as well share with you bastards as well.

    Easiest money of my life, at least 61 USD (the ones on CMC doesnt quote the reward, so theres 3 with a surprise amount) in current USD value. I did all of mine a few weeks ago, and theyre now up to 100 USD.

    You need Coinbase and Binance account for these, I left a referral link to each at the top but assume all of you have these accounts anyway.

    Hope this was news to some, and may they all pump!

    https://docs.google.com/spreadsheets/d/1PuXwk7G8HprOJw6cyr9f04wPQ7RPAL3Y8bi-M11dgTw/edit?usp=sharing

    submitted by /u/virusamongus
    [link] [comments]

    We should be cheering for everyone to have a successful crypto career, not just people who are invested in the same coins as you

    Posted: 03 Mar 2021 09:11 AM PST

    I see it a lot with people shilling their own coin holdings and proceeding to talk down to others with different holdings like they have the secret formula to crypto. We should be happy that there is a diverse array of crypto projects with different use cases and functionality. If we were all only invested in a handful of cryptos, what good would that do us? There is so much amazing technology in a lot of the protocols out there and we shouldn't belittle other projects without having a proper understanding of the coin.

    Just think about it, we recently entered the era of DeFi, which is a huge game changer in the financial world. Many people didn't believe in DeFi tokens early on, but to those of you who did, congrats on hodling strong! Technology continues to evolve, and that's good for cryptocurrency as a whole. Don't let anyone bring you down with their opinions on certain coins. Of course, be smart and do your own research!

    Cheers!

    submitted by /u/walkinthepark01
    [link] [comments]

    An Original Banksy Has Been Burned and Turned Into an NFT - The $70,000 artwork, called Morons, was destroyed in a secret New York location today — and made into a non-fungible token in blockchain.

    Posted: 03 Mar 2021 05:01 PM PST

    The first Bitcoin reference in television history aired on The Good Wife in 2012, when it was only worth $3.41

    Posted: 03 Mar 2021 11:43 AM PST

    All Nano FUD summed up in a single post

    Posted: 03 Mar 2021 12:33 PM PST

    Original Written by u/RecklessGeek here, I couldn't directly cross-post it since it has reddit links without the np subdomain.

    I recommend you to read his original post here since OP is regularly updating points and links there.

    I was replying to a thread asking about this but the message got so long I figured I could make it into its own post to remind everyone that NANO isn't perfect, and hopefully spark up some discussion. The main disadvantages I know after being here for a while and investing myself:

    1. No smart contracts

    Some may argue that this is an advantage, while others consider smart contracts the future of crypto; that's up to you. It does make sense that NANO isn't supporting them for technological reasons, and that's ok. Nano doesn't have to be the only coin in the planet and can coexist with coins that are specifically made to support smart contracts and thus better at it.

    2. Lacking privacy

    It's just as private as BTC, which is already pretty successful. Besides, not sure if it would cause regulation issues, as others have pointed out in different posts. I'd love for privacy in a coin to be an advantage but it doesn't seem like it in our society.

    Anyway, this can be solved to some extent in the second layer.

    3. Deflationary currency

    There haven't been any successful deflationary currencies yet AFAIK. The only time that happened was with Japan's Lost Decade), which wasn't going to end well according to expert economists. I don't know enough about the topic to discuss more about it and I still have some reading to do, but my current research isn't too optimistic. Not because it's impossible, but due to the fact that it has never happened before, which makes actual Nano adoption harder and another challenge to overcome.

    I suggest everyone to learn more about this themselves. It's a very interesting topic. There's this small book I haven't read yet, this great video, and another video, but look for more yourself.

    4. Is it really a good enough fiat replacement?

    NANO is great, but is it great enough to replace fiat for your average Joe?

    • Consider that the average fiat user doesn't care about decentralization at all. If anything, it's worse for them: it's harder to set up, understand, and they have to keep private keys safe.

    My father is unable to understand how cryptocurrencies work. Thus, he doesn't plan on using them as he doesn't trust crypto at all. * NANO is green, but not that much in comparison to fiat -- at least when we're talking about digital fiat transactions. Would like to see facts and an objective comparison on both physical and digital fiat, though. * NANO is instant... just like fiat, or at least for day-to-day amounts and between close communities. Nano is a global currency; it shines with larger amounts and between banks from unrelated countries. For example SEPA transfers are limited to Europe and are slow AF, and other methods have fees and are also quite slow. But that's not really something the average Joe cares about, he just wants to pay for the beer he just had. * NANO is feeless: that is something nice. But converting to NANO does have fees, which is required to use it (although less important). I don't think we'll ever get rid of all middlemen, and we'll always have to deal with fees, although probably much smaller. Not that big of a deal, but something to take into account.

    Here's an example regarding adoption I've experienced myself and consider in the same situation as crypto:

    I'm a huge Linux fan and user, and it is objectively better than Windows in many ways: it respects your privacy, is open and transparent, and completely free. It's usually a bit more performant, and you have full control over it. Yet, not more than 5% of desktop users run this OS, and most are tech-savvy people.

    I'd love it if this happened, but the advantages just won't convince average Windows users to switch, because it's a somewhat complicated process for the tech illiterate or they just don't care enough.

    Some are also confused about why there are so many distros and which one is best (same as crypto), specially considering that the user of a distro (coin/token) will tell you their own is the best one. Sometimes we are our own enemies. Not to mention that Windows (fiat) is the most used platform, which means there's less support for Linux (nano) sometimes. That makes it a big reason why people don't want to switch their OS (currency).

    The issues in this section don't mean that the switch to crypto is impossible. Only that it's going to take muuuuuch more time than most of their users think, and that it could take many generations IMO. Considering cryptocurrencies are just starting to get attention now, it's to be expected -- you can't change the world in two days. This also affects all kinds of cryptocurrencies, not just Nano, so at least it's something we all fight together against.

    5. No node incentive

    It can only make sense that without fees nor inflation there's not much incentive to run a node. There's just no way around it. I can get behind the common counter-argument that companies that use NANO run nodes to secure their own holdings, which so far has been working well, but it's something to be aware of and that we don't have much experience with.

    6. Spam attack

    Spam is also a concern: if Nano is instant and feeless, what prevents a Nano hater from spamming the network?

    As this post is being written we're under a small spam attack. We're at ~30 Transations Per Second, while we're usually at ~2, so about a x15 increase. Is Nano any slower? Not really. With Nano's model of having a blockchain per account, ledger bloat is also reduced; only full nodes need the entire history and storage is quite cheap (and pruning hasn't even been implemented yet). While this is a relatively small attack and we should work on preventing them, there are many ways to approach this and it might get better as Nano gets more usage.

    7. Devs could do better

    Don't take me wrong. I value the time and effort put into the Nano foundation and all its members for creating this coin, but for instance I think it could be more transparent. I'd love to have a more in-depth analysis of the foundation's expendings and regarding decisions taken about Nano's future (most technological decisions are nicely explained in their medium account). The whole Appia thing has already been talked about many times and I don't want to beat a dead horse. I support it, but I consider it could have been a much more transparent process. I would also like to see a clearer roadmap than a GitHub project.

    But considering that cryptocurrencies seek decentralization, and that Nano is proven to be mostly a community project, I'd like the dev team having as little power as possible (to some extent). I don't think it's important that e.g. the devs promote Nano. See for example the guy who just started an ad campaign on PornHub. It's just a different way of doing things, and I prefer it.

    8. Bitgrail

    Most posts like this one include the Bitgrail scam as a temporary disadvantage, as some lost a lot of money. It was just a bad experience overall, and some people only know Nano because of this. I don't consider this a huge disadvantage, but I wanted to include at least a mention.

    9. Epoch blocks are centralized

    Here's one I didn't know about: the epoch blocks are a centralized solution. The upgrade itself was decentralized because all nodes agreed to do so, but it's only up to the team to add epoch blocks from that moment on. Read more about it here and see more discussion here: [1] [2].

    DYOR

    submitted by /u/sggts04
    [link] [comments]

    Starting small is a hell of a lot better than watching the price increase and wishing you'd bought in earlier...

    Posted: 03 Mar 2021 09:42 PM PST

    I've been buying into crypto since 2018, and even though I've tried my best to DCA along the way, I'm still guilty of this...

    You don't need to yeet a life-changing amount of money into a project to make it worth while in the end. Not to mention, depositing small amounts over time is the best way to diversify your portfolio.

    Better to start small, than not at all...

    submitted by /u/clodhopper88
    [link] [comments]

    Brave Takes Aim at Google, Set to Launch Privacy-First Search Engine

    Posted: 03 Mar 2021 06:04 PM PST

    I have seen a substantial amount of misinformation regarding the network speed (TPS) of Cardano. Here's the real answer, along with important consideration for why TPS is not a great metric of network speed for any blockchain.

    Posted: 03 Mar 2021 01:12 PM PST

    TLDR: The real TPS of any network will vary drastically, as the size of the transactions also varies drastically. Moreover, different networks have differing transaction data needs and norms, making this figure largely incomparable across blockchains. For now, Cardano has a rough present speed cap of about 7 TPS, and anyone telling you Cardano has a network TPS above even 10TPS is talking out of their ass. That said, it's low specifically because network use is low, and so higher TPS is totally unnecessary. Cardano can scale its potential TPS to current network utilization and current technology relatively simply by changing a single network parameter, which can be adjusted manually now by IOG, or voted on in the future. Thus, they can increase the network speed up into the neighborhood of ~50 TPS almost immediately without expected issues. Longer-term scaling and optimizations really will make a major difference, so saying more is difficult.

    ---

    Let's begin by talking about the main factors that can influence the number of transactions a modern blockchain network can process per second. The first factor that influences transaction speed is the rate at which these bundles are written and approved by multiple network validators. In Cardano, blocks are written in at an average rate of 1 block every 20 seconds. That said, transactions per second then also depends on how many transactions are included in those bundles. The more transactions in each of those bundles, the more transactions are being processed per second.

    Things might seem simple up to this point, but this is actually where TPS gets really complicated. Why? Because the number of transactions in a block varies a ton.

    To understand this complication, first recognize that most blockchains don't actually care about number of transactions when processing blocks, they care about the data size of those transactions. At the end of the day, a transaction in a blockchain is just a set of information describing what happened - who sent how much to where? Or in the case of smart contracts, who sent what to where, and what needs to happen as a result? So it's the case that some transactions take up a lot of data space, while others take up very little.

    Most modern blockchains, including Cardano, then choose to set a cap on how much data each block being written can contain in terms of bytes, not in terms of number of transactions. In Cardano, they call this parameter the "maxBlockSize." This value is a delicate balance: setting the limit too high means that these huge blocks of data can be created every 20 seconds, and these big blocks need to be shared with every single person on the network - so bigger blocks can mean slower uptake, more security vulnerabilities, and potentially more costly storage for transactions overall. Conversely, setting the limit too low means that each block can barely contain any information at all, and the network becomes incapable of handling higher loads of use - leading to network congestion and long transaction delays. So setting any one maxBlockSize (or whatever your network calls it) comes with a number of trade-offs, and it's a constantly moving target as network usage changes, technology changes (i.e. cost of hard drive space, networking speeds, etc.), and the type of transactions being conducted changes.

    Thus, transactions per second relies on how many blocks are being produced (which is easy), but also the average size of each transaction in bytes (which can and will change based on how the network is being used), and the maximum size of each block being produced (which can also change). This is why anyone spouting off TPS figures is probably misguided - the real TPS of any network will vary drastically, as the size of the transactions also varies drastically. At best, you can estimate an average maximum TPS for a network, but that is subject to change for a variety of reasons unrelated to the speed of the network.

    Moreover, different networks have differing transaction data needs and norms, making this figure largely incomparable across blockchains - so it's not even a good reference metric. Small transaction sizes is not necessarily a good thing, but they do make high TPS values way easier to attain; likewise, big transaction sizes is not necessarily a bad thing, but they make high TPS values almost impossible without suffering from issues like network/propagation latency and blockchain bloat. For example, as u/StatisticalMan helpfully explained, "a Maker DAO vault registration smart contract [on Ethereum] requires 30x the gas (~600,000) as a simple send ETH from wallet A to wallet B transaction (21,000). So if you removed all smart contracts from Ethereum well it could handle a lot more tx per block. It would also be nearly useless... The reason why blocks are full on ETH is because people are doing really interesting complicated things. Decentralized swaps, decentralized lending, collateralized loans, nft creation, decentralized stablecoin minting, decentralized options pools, decentralized crypto mutual funds, etc." In other words, given the inherent trade-off between TPS and transaction size for many blockchains, a high TPS is not necessarily desirable in and of itself.

    For now, know that the maxBlockSize of Cardano is set at 65536 bytes (per adapools). This is kind of an abstract number, so let's set some reference points. Looking at the Cardano Explorer, we can see that as of writing, most transactions are somewhere in the neighborhood of 450 bytes on average. Thus, we can fit about 146 average-sized transactions in a single block, for a rough present speed cap of about 7 TPS (146 average-sized transactions being processed every 20 seconds). I want to make this super clear: anyone telling you Cardano has a network TPS above even 10TPS is talking out of their ass or is just regurgitating abstract theoretical numbers they heard somewhere.

    "But wait, that sounds like absolutely nothing. I thought Cardano was supposed to be the network of the future?" Yes, remember that I emphasized for now.

    First, because maxBlockSize is a network parameter for Cardano, that value can be changed very simply. The responsibility of setting or changing this parameter is currently in the hands of IOG, but once Voltaire and on-chain voting systems are fully developed, the community will be able to propose and vote on changes to this value at any time. This is absolutely critical, and is one of the strengths of Cardano as a network, because it means we can scale our potential TPS to current network utilization and current technology (remember from earlier that setting block size is a careful balance). If you look back at the blocks being produced on the Cardano Explorer, you'll notice that blocks are no where even close to the current maxBlockSize of 65536 - they're more in the neighborhood of 10000 bytes and below. What this means is that the current network utilization is not at all being capped by the network's current transaction speed. We simply aren't even close to hitting the low cap of ~7TPS on a regular basis, and thus setting the maxBlockSize higher right now will just lead to a lot of empty blocks and an unnecessarily data-heavy blockchain overall. But if we do start to get to a bottleneck, changing this parameter and increasing the network speed up into the neighborhood of ~50 TPS can happen almost immediately without an issue (as reported by IOG engineers running stress tests). It is unclear how much higher we can set the maxBlockSize at present without introducing more latency issues, but 50 is a very reasonable estimate by my figuring, the video linked, and the in-depth technical paper by IOG (see Table 6 on pg 42).

    Second, the average transaction size in bytes is likely to change substantially over time. With the recent release of the Mary update introducing native tokens to the network, transactions may contain more data than before. Once smart contracts are fully deployed on the network via the final Goguen update, a single smart contract transaction may end up being bigger than what we see today for regular transactions. At the same time, Charles and IOG folks have consistently alluded to optimizing how the data in transactions are stored similar to what Ethereum has been and is doing. The thinking goes, if you can communicate the same transaction with less data, you can fit more transactions in the same block and increase the TPS of the network almost "for free." All said, the current average transaction size of 450 bytes is unlikely to hold much longer, and the network will be ready to change and adapt as necessary given the ability to vote on parameters like the maxBlockSize.

    Third, there are a variety of future updates to the Cardano protocol that can really change things up and speed the network up even further. The big one to keep an eye on is Hydra, which can radically increase the TPS of the Cardano network theoretically well above 1000 TPS. Even my old skeptical bones has calculated a conservative bottom-end for TPS in Hydra at around 2500 TPS at the absolute worst (i.e. in a world where protocol optimizations cap us out at 50 TPS, rather than the big-blue-sky figures Charles Hoskinson tends to toss out at 100-1000+). Thus, once we can't scale the network to adapt to high usage past adjusting maxBlockSize and optimizing transactions themselves, Hydra can get us well beyond what would likely be necessary. That also ignores any future developments to the protocol that introduce other solutions for scaling - and we have plenty of time between now and then.

    So, long as hell post, but hopefully that tells you what you need to know about TPS, Cardano's network speed, and the potential future for network usage. Would love reactions, pushback, questions, etc. - I'll do my best to answer.

    Additional Sources and Further Reading:

    Disclosure: This post is a lightly adapted version of an answer I wrote for r/Cardano_ELI5, a sub at which I am a moderator. Moreover, I have invested in Cardano as part of my portfolio.

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