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Future of DPoS in Three Projects: CyberMiles, EOS and TRON

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Delegated Proof of Stake (or ‘DPoS’) is a consensus model which seeks to supersede the likes of progenitors Proof of Work (PoW) and Proof of Stake (PoS) – with promises of increased efficiency and greater representative democracy amongst coin holders with regards to platform decision making.

A consensus mechanism is how blocks are verified, with in-built protocol to attempt to prevent faults such as unintended forks.

Rather than its predecessors DPoS has been described as many as being more akin to what is called the Proof of Action, rather than its namesake of PoS. It has also been described as an approach in which “People in a particular cryptocurrency community vote for Witnesses to secure their computer network.”

What is It?

Delegated Proof of Stake isn’t all that dissimilar from PoS when you look at it. Investors stake their token holdings in a voting procedure which decides the appointment of a select number of ‘delegates’ or ‘witnesses’ (rather than the free-for-all miner approach of PoW).

These individuals are responsible for a wide range of important responsibilities pending to network operation. At any point, stakeholders can revoke their vote of confidence in these delegates if they feel that they are underperforming or incapable of their duties.

Since DPoS is an as-yet lesser adopted consensus mechanism, there is a wide range of different approaches in place at present – and little in the way of standardised definitions. To best understand the ways in which it can be applied, as well as the different interpretations of this still nascent technology available present.

1. Decentralizing E-Commerce

CyberMiles intends to utilise a combination of trusted and original technologies with the intention of decentralizing e-commerce through decentralized blockchain technology. The platform intends to migrate to its own independent blockchain on October 15th, 2018 and currently resides on the Ethereum blockchain, however it incorporates DPoS.

CMT Cubes are one of the most unique aspects of the CyberMiles approach, and they play the role of ‘delegators. The cubes are hardware-based and act as the primary method of staking internal currency (‘CMT’s) towards the election of blockchain validators.

They will be available for investors to purchase and they are also promised to feature an easy-to-use user interface, along with in-built security features and low power-consumption.

The team’s proprietary programming language for smart contracts and DApps is entitled Lity and acts as the foundation for all projects built on their platform. It will also be cross-compatible with Solidity.

Time will tell as to whether CyberMiles’ approach will be successful, with token pre-sales (along with Cube sales and the launch of their main net) set to begin as soon as October 15th, 2018.

2. Creating an Operating System for DApps

EOS is a project with a massive token, and this is proven on record with the eponymous cryptocurrency ranking at number 5 on CoinMarketCap’s top 100 listing. It is valued at $5.25 USD a piece at the time of writing, with a $4,756,512,072 USD market cap.

The EOS ecosystem has been referred to widely as a blockchain infrastructure for commercial-scale DApps, as well as “the first blockchain operating system”. With the EOS implementation of DPoS: we can quite literally state that the coin fuels the operation of the platform.

With what’s called ‘Approval Voting’ each EOS token-holder can take part in a voting process where they are allowed to stake their holdings towards a maximum of 30 candidates. Investor power is proportional with a single token counting for a single vote, and at the end of the process a total of 21 validators are chosen. These validators are referred to by EOS as ‘blockchain producers.

EOS has been the victim of a handful of attacks due to its popularity, exposing security flaws in their system. Despite this it remains popular, as well as receiving attention in Hacked.com’s Trade Recommendations section.

3. Decentralizing the Internet

TRON is the final project which we will be investigating and it’s another top-ranking coin on market-cap aggregates. A multifaceted blockchain based project and utility-token which incorporates a wide range of technologies, TRON’s ethos is the facilitation of the decentralization of the internet.

The company’s flagship product is called the ‘TRON Protocol’ and like EOS it posits itself as something of a blockchain based ‘operating system’, acting as the foundation for DApps and other projects to build their own solutions.

Additional creations available at present include the TRON Blockchain Explorer, and Project Genesis: a reward pool distributed as incentives for events such as programming contests – as well as the ‘Tron Accelerator Loan’.

TRON goes as far as to call their DPoS approach ‘TPOS’ to differentiate it from the many other interpretations which exist. One of the most impressive factors in comparison to peers is the size of the delegate community which they have achieved. They call delegates ‘Super Representatives’ and they have 143 of them, in addition to 937 online nodes.

Like the change in names, most of the changes from DPoS here are superficial and do not present any major differences in technical operation. The coin has been reportedly showing signs of promise with regards to market value for its proprietary TRX coin recently.

The Future of DPoS

Delegated Proof of Stake has raised a lot of questions within the crypto community: particularly due to its experimental nature, however examples such as CyberMiles, EOS, and Tron demonstrate promising and successful implementations of the protocol.

With the rise of DPoS based solutions, it would appear that we are likely approaching a moment where it may rank amongst (and as a viable alternative to) the traditional PoW and PoS consensus mechanisms. Some of these projects are even listed in the top 100 cryptocurrencies with regards to market capitalization.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Zcash Price Analysis: ZEC/USD Bears Back in the Driver’s Seat Despite Coinbase Incentive Program Support

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  • ZEC/USD is back within the control of the sellers, as the price has dropped around 9% within the past five sessions.
  • Coinbase announces that Zcash (ZEC) is supported on their learning incentive program. Users can earn $3 worth of ZEC by merely watching educational videos on the privacy coin.

ZEC/USD: Recent Price Action

The Zcash price has been cooling over the past few sessions after the bulls failed to sustain decent upside momentum seen earlier in the month. ZEC/USD has fallen over 9% in the previous five sessions, after hitting $56.75 on 13th February. The mentioned print was the highest seen since 14th January, with the buyers since losing ground.

ZEC/USD was moving within a descending wedge pattern formation; this was observed from 24th December up to the breakout on 8th February. As part of this mentioned push north, the price went on to gain a whopping 15%, rallying for five consecutive sessions. It was the longest run higher that observed since mid-December 2018.

Zcash Added to Coinbase Incentive-Driven Learning Program

U.S cryptocurrency exchange Coinbase announced Zcash has been added to its incentive program. Users will be able to learn about the privacy-based coin while having the benefit to earn from this program. The reward will be $3 worth of ZEC for watching the educational videos about the cryptocurrency.

Coinbase tweeted from its official account, “Earn $3 worth of Zcash with a new Coinbase Earn opportunity today. Check out the Earn ZEC page to view educational videos about Zcash and earn some along the way!” Users can sign up and start the program to receive their cryptocurrency rewards upon completing the educational series.

The program launched at the back-end of 2018, initially just featuring 0x. Earlier this month, Coinbase added Basic Attention Token (BAT) to the program. Zcash now being the latest is a massive step towards greater global awareness for ZEC by being supported on one of the world’s largest cryptocurrency exchanges.

Technical Review – ZEC/USD

ZEC/USD daily chart.

As detailed earlier, the price is heading south, which will likely see the above-detailed descending wedge pattern retested. Support is currently tracking around $47.00, which is where the upper trend line of the descending wedge sits. The mentioned support area coincides with a demand zone, seen from $50.00 down to $46.50. ZEC/USD last traded down at these lows in December 2018, a period when the general market bottomed, after heavy bouts of selling.

Should this support fail to provide necessary comfort, then a strong wave of pressure to the downside may likely be seen. The price may be forced to trade within the complete abyss, an area that has not been observed before. Unknown territory trading is something that is occurring across the industry within this current bear market.

Given the breach of the wedge pattern, there isn’t too much in the way of resistance until the $60 region. A supply zone tracks from $62 up to $65; the price saw several rejections here in January of this year and in December 2018. Further to the north, another likely target would be where the price peaked at the end of 2018, $73.95.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 124 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Ark Price Explodes with 89% Post-Upgrade Growth; Coin Added to Exodus Wallet

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The price of Ark (ARK) leapt 89% on Sunday, Feb 17th, and climbed to a new three-month high the process.

The rise in value came days after the Core V2.1 update to the Ark mainnet, and hot on the heels of the ARK coin being added to the popular Exodus Wallet.

ARK Price – ARK/BTC

As seen below, February has been a hectic month for ARK. The coin experienced four spikes in the last ten days or so, during which time the price rose 154% overall. Since the 18-month low on December 12th, the coin is up 195%.

On Sunday the coin moved from a value of $0.460082 up to a peak of $0.869728. That marked 89% growth for a brief moment, before the coin plunged again down to the $0.72 range, leaving Ark on net 52% gains for the day.

The ARK/BTC pair on Binance accounted for 20% of the daily turnover of $47 million. That’s a new one-year high for trade volume, not seen since the altcoin pump of January 2018.

Most of that has to be attributed to the Korean markets, as the ARK/KRW pair on UPbit made up close to 70% of the daily total, or around $33 million.

Ark Core Upgrade V2.1

The Ark Core upgrade V2.1 was released on February 11th. The main goal of which was a straight-up conversion of its programming language.

“The newest Core upgrade is primarily focused on changing the codebase from JavaScript to TypeScript. This means rewriting the entire Core to the TypeScript programming language. While this sounds unreal to accomplish in such a short period of time (the initial new Core v2 was released just over 2 months ago), TypeScript is a superset of JavaScript which makes the conversion easier.”

According to the accompanying release notes, TypeScript is a coding language that identifies syntax errors in real time, rather than waiting for when the app is already up and running. In this sense, V2.1 was an update for developers, but one which could pay off for holders in the long run.

The following is a description of Ark’s function according to the project website:

“ARK provides users, developers, and startups with innovative blockchain technologies. We aim to create an entire ecosystem of linked chains and a virtual spiderweb of endless use-cases that make ARK highly flexible, adaptable, and scalable.”

ARK Added to Exodus Wallet

On Feb 15th, Ark was added to the Exodus Wallet – a cryptocurrency wallet that houses around 90 different currencies at time of writing. The desktop wallet also features an in-built exchange, meaning users can trade from the security of their wallets. The Ark team announced:

“We are very excited to announce that ARK is now integrated into the Exodus cryptocurrency wallet. All Exodus wallet users now have the option to store ARK in one of the most popular and trusted universal cryptocurrency wallets in the industry.”

Looking forward, the next Ark Core update is due in March and will see a utilities library made available for Ark developers.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 146 rated postsGreg Thomson is a full-time crypto writer and digital nomad. He eats ICOs for breakfast and bleeds altcoins. Wherever he lays his public key is his home.




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Litecoin Price Analysis: LTC/USD Set for Another Potential Explosive Move North as Bulls Penetrate Pennant Pattern

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  • Litecoin price on Saturday is seen holding decent gains of over 3% at the time of writing, as the bulls continue their latest push north.
  • Fundamental prospects surrounding the Litecoin Foundation remain strong and supportive of the price recovery.

LTC/USD since last week has been on a decent push to the north; the price has gained well over 40% since 7th February. A breakout kicked-started the previous week after the bulls managed to escape a narrowing daily range-block. LTC/USD was contained within the tightening structure from 11th January right up to 7th February, which then saw an explosive move shortly after. In terms of the range, this was seen at a high of $35 down to a low $29.

Between 10-11th February, Litecoin managed to see its highest levels since 14th November, which demonstrated its recovery. Price action over the last few sessions has been somewhat consolidating while maintaining the new heights. As a result, LTC/USD has formed a bullish pennant structure following the long pole from 8th February gains. Given the current formation, the price does appear to be subject to further upside movements.

Adoption Progress – Litecoin

Earlier this week, Spend App announced iit would begin supporting Litecoin. The Spend App currently facilitates users to buy, sell and pay with Litecoin in more than 40 million locations, a massive step towards mainstream adoption. According to Spend’s official website, card transactions can be performed in 180 countries.

The company tweeted, “Litecoin is now available on the SpendApp. You can buy, sell and pay with Litecoin with your linked bank account. Spend LTC at 40+ million locations with the Spend Wallet by instantly converting to fiat with the Spend Visa Card!”

Pricing in Litecoin’s ‘Halving’

In August of this year, Litecoin is expected to see it’s second ‘Halving’. In a PoW, or proof of work blockchain, halving results in the miner’s reward being cut in half. Although the halving causes miners’ reward to be reduced, they tend to Bboost the price of an asset over the longer-term.

The inventor of bitcoin, Satoshi Nakamoto, introduced the halving feature to protect against inflation. Besides, he wanted to ensure that not all of the blocks were mined so soon. Similarly to bitcoin, Litecoin has a cycle of “halving”. What will happen is at predetermined blocks, Litecoin’s mining reward will reduce. It will be Litecoin’s second halving, as the first one occurred back on 25th August 2015. At the time miners rewards went down from 50 LTC to 25 LTC, this time round miners reward will be 12.5 LTC.

Technical Review – LTC/USD

LTC/USD daily chart.

As detailed earlier, LTC/USD is subject to an extended move higher should the market bulls breakout of the pennant pattern. The upper part of the structure can be seen tracking around $44.00; this must be broken down to see a more significant wave of buying pressure. Looking to the north, the next realistic target for the bulls will likely be the psychological $50.00 mark. The price has not been up at these heights since 14th November 2018.

In terms of support, it is observed at the lower acting trend line of the pennant structure, $41.50. If this fails to hold a complete reversal of the latest run of gains may be seen. LTC/USD would then likely be forced to return down to the low $30 region.

Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 124 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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