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      "body": "Congratulations @mimirblockchain! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@mimirblockchain/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@mimirblockchain) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=mimirblockchain)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "The MIMIR Blockchain to Internet (B2i) Bridge offers secure blockchain access that is fundamentally different than traditional Web APIs and BaaS providers. We set out to give users secure access to Dapps while minimizing the costs of providing this infrastructure. Web APIs/BaaS are centralized service providers that tend to have high operational costs due to network usage, storage, and computation. By crowdsourcing our infrastructure, we add revenue for public nodes, help decentralized businesses reach a larger audience, improve network security by supporting archival nodes, and provide end users with seamless secure blockchain access.\n\nWhat’s Missing From Current Remote API/BaaS\nThese are services like Infura and Blockcypher. Almost every blockchain user has interacted with their services at some time and may not even realize it. Unfortunately, even if you didn’t realize you were using them, you were giving up some of the security offered by the blockchain. When interacting with a blockchain service through a local node, you can be confident the information being provided has been verified by the consensus protocol. When a third-party provider is used, your device no longer has the benefit of being able to verify the consensus protocol. This means that you are trusting the server (read, a centralized source of truth) to be honest. Blockchains were built so that untrusted parties could exchange value and information without relying on any central authority.\n\nDecentralized\nA decentralized system is, quite simply, a system with no single point of failure. In a decentralized system, the storage/computation is performed across many machines (or nodes) instead of only one. The benefit of decentralization is if one of those nodes were to fail, or become malicious, the rest of system would be fine. MIMIR built the B2i Bridge to preserve these characteristics, even if you are not running a node. We do this by using existing nodes as a decentralized server farm. When you pass a message through the MIMIR Bridge, it is answered by multiple nodes that enforce honesty on each other. We play referee, and make sure no one is trying to abuse the system, but we don’t serve any data about the blockchain. This is how we keep our system decentralized. Simply being decentralized isn’t enough, you also need a means to keep everyone honest. In order to keep everyone playing nice, we have both a carrot and a stick. The stick comes in the form of economic punishment for bad actions. In order to punish, we must all be able to agree what is true and false. Thats where consensus comes in.\n\nTrustless Consensus\nTrustless consensus may sound like the absence of trust, but it is actually the distribution of trust. Why put faith in a single entity to be honest when you can put faith in a group of entities who all have a stake in maintaining the integrity of the system?\n\nThe MIMIR Bridge, was engineered to ensure the benefits of a malicious act were always less than the benefits of honest participants. In order to catch those malicious parties before any harm is done, we designed the MIMIR Bridge to protect the user from bad actors through arbitrary recursive verification. This means the user can set what level of security they want by asking for more and more confirmation about the information provided. Each layer of consensus diminishes the potential value of a malicious act (by dividing between more individuals) and is another opportunity for a malicious actor to be caught. Each layer also means an even greater reward (the sum of all of the malicious actors’ forfeited stake) for the single honest participant who informs the user of a malicious act.\n\nDistributed Verification\nIn order to make sure our system was resilient to malicious parties, no one person is responsible for determining the validity of a request. The verification of every request gets split between a group of individuals to ensure that malicious parties are caught before they cause damage. In order to stop malicious coordination the MIMIR bridge utilizes a secure routing protocol. This protocol prevents anyone from knowing who will be checking their work. The routing protocol was also designed so that it could be easily verified by a mobile device. MIMIR built the system so that third parties could easily double check our work. We made the system operate so that even if MIMIR itself became malicious (due to being compromised or impersonated) it would be readily knowable. Trust no one and verify everything. That is the blockchain way.\n\nFault Tolerant\nFault-tolerant systems continue proper function even if a portion of that system is down for maintenance, unresponsive, or under attack. Fault tolerance allows for a system to bend but not break. The MIMIR Bridge is fault tolerant in the most traditional sense. We run redundant infrastructure that links against the pool of public nodes. This means that downtime can be avoided for both businesses and users. It also means that an unexpected spike in traffic won’t shut our system down.\n\nLeverages Existing Infrastructure\nMIMIR utilizes existing systems wherever possible. For instance, we built our core technology on the Ethereum blockchain, we rely on public nodes to provide our infrastructure, and we didn’t build our own blockchain for the MIMIR B2i Bridge. We designed the MIMIR Bridge to lean on established infrastructure that has proven itself as secure. Those choices haven’t limited us though; In the future, we will use our technology to allow users to interact with other blockchains as well. We can provide secure access to any blockchain with deterministic Turing complete smart contracts.\n\nWhat Local Nodes Lack\nMake no mistake, local nodes are the single best manner to interact with a blockchain. It doesn’t matter if you are running Geth, Parity, or any of the other software clients, they are all more secure than third party systems. Unfortunately, this software requires a desktop or laptop computer to run. This software also needs secure high speed internet access to sync blockchain data. In order to create a secure, mobile friendly alternative, we built the MIMIR B2i Bridge.\n\nMobile Friendly\nWe aim to close the gap between the users and dedicated coders by providing a secure transparent communication channel that allows developers to focus on making better UI/UX. Developing for blockchains is hard. Building secure blockchain software for mobile devices is even harder. The MIMIR Bridge provides a simple solution that can instantly link a mobile device into blockchain services without draining the battery or eating up the data plan.\n\nIoT Friendly\nIoT (Internet of Things) devices are important to MIMIR. We believe that, regardless of the platform, our software should be able to provide secure blockchain access. This is why we have written most of our codebase in Rust. Blockchains could provide a mechanism for verified firmware updates, authenticated peer discovery for mesh networks, and even act as a new type of Public Key Infrastructure. To put it more simply, secure blockchain access could help keep the tech in your car, your refrigerator, or your remote webcam doing what they were intended to do These devices also won’t be stealing your credit card information or allowing hackers to spy on your family. We aren’t fundamentally changing any of these IoT platforms. What we’re doing is creating a way for them to all play nice with the blockchain.\n\nUser Friendly\nHonestly, end-users shouldn’t even know you’re using our software. We act transparently to existing UI/UX solutions like Metamask, and we are building our software to work on a variety of devices. Our goal is to provide seamless and secure interaction with blockchain services, Dapps, and mobile wallets regardless of your platform of choice.\n\nInstantly Accessible\nThe Ethereum blockchain can have multi-hour wait times to download/synchronise with the system. MIMIR relies on existing nodes from the Ethereum ecosystem to provide instant access — no sync time required. The MIMIR B2i Bridge provides users with full node access without the hassle of partial information you get with light clients or the required file size to host an actual node.\n\nThis also greatly contrasts with light client protocols. Though the most often used Data is readily available, once a request is made that is outside the reach of the light client, you are forced to download the entire associated database. This makes light clients an imperfect compromise as they are too large for edge-connected devices to operate with smoothly and too small to maintain the full security of a blockchain node.\n\nConclusion\nWith the MIMIR B2i Bridge, our goal, first and foremost, is to bring blockchain to the offchain. This means simplifying the process of accessing a blockchain without losing any of its benefits. It allows for a more efficient peer-to-peer economy to emerge with better securities. The MIMIR B2i Bridge also enforces economic security and provides secure information to end users. We envision the MIMIR B2i Bridge will someday be utilized on a variety of blockchains, connecting users seamlessly through our software.\n\n\nDISCLAIMER: The content provided on this site is opinion and commentary on topics related to the blockchain universe. IT IS NOT INTENDED TO BE NOR SHOULD IT BE RELIED ON BY YOU FOR ANY REASON AND IS PROVIDED “AS IS” WITH NO WARRANTIES OF ANY KIND. You are responsible for your own decisions and for properly analyzing and verifying any content.",
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      "body": "MIMIR has had an exciting week. We released the rust user client and\nrust validator client on github. We also built a faucet for the\nRopsten Testnet that will automatically fund any validator client that\nis downloaded and executed. We are now ready for the world to play\nwith the MIMIR Blockchain to Internet Bridge. This released version is\na limited subset of the final implementation, that includes the\nfollowing RPC methods: eth_estimateGas, eth_call, eth_gasPrice,\neth_getTransactionCount, and eth_submitRawTransaction.\n\nThis API is still undergoing large changes but we hope to have the API stabilized in the coming days. The system should be ready for simplistic Dapps in the coming week. We are through the worst of the waterfall, and we are\nswitching to a continuous integration flow that will allow rapid\nimprovements. If you want to play with the system, please download and\nhack away. If you want any specific features added first, let us know!\n\nNow that there is something for alpha testers to play with, be sure to sign up to become a tester, if you haven’t already. You can sign up here https://alpha.mimirblockchain.solutions/. Our rocket.chat community continues to grow. Whether you’re already a tester or plan on becoming one, join our community here https://mimir.rocket.chat/. If you need help going through the system, or find a bug, you can chat with our developers as well as other testers.\n\nDon’t forget, our CEO Nicolas Fierro and CTO Hunter Prendergast will both be presenting at the Bitcoin, Ethereum & Blockchain SuperConference February 16–18 in Dallas, Texas. If you are planning on attending, reach out to us. It would be great to meet in person.\n\nFrom all of us at MIMIR, thank you to our testers and those who are planning on signing up.\n\nDISCLAIMER: The content provided on this site is opinion and commentary on topics related to the blockchain universe. IT IS NOT INTENDED TO BE NOR SHOULD IT BE RELIED ON BY YOU FOR ANY REASON AND IS PROVIDED “AS IS” WITH NO WARRANTIES OF ANY KIND. You are responsible for your own decisions and for properly analyzing and verifying any content.",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://futureblock.io/2018/01/10/alpha-for-the-mimir-blockchain-to-internet-b2i-bridge-is-live/",
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      "body": "Join us in bringing “Blockchain to those off- chain” by using existing nodes as a revenue generating opportunity for owners.\n\nAs the world’s first Decentralized Ethereum Service Provider (DESP), we’re proud to announce the alpha version of the MIMIR Blockchain to Internet (B2i) Bridge, the flagship infrastructure platform from MIMIR Blockchain Solutions, is now live at alpha.mimirblockchain.solutions. The MIMIR B2i Bridge brings blockchain to the “off-chained” by allowing direct access to the Ethereum-based Decentralized Application ecosystem from any webconnected device without the need for third-party trust; with limited or, in some cases, no pre-installed software necessary.\n\nBy leveraging existing nodes, the MIMIR Bridge will help B2B and B2C clients improve economics, quicken transaction times, and smooth capacity issues. This innovative approach will also address current issues with blockchain (namely security, scalability, and accessibility).\n\nThe MIMIR B2i Token, the value mechanism behind the MIMIR B2i Bridge solution, will go beyond the cloud and traditional Blockchain as a Service (BaaS) offerings. Our token will be the first of its kind. In exchange for cryptocurrency, users will be given MIMIR B2i tokens that will act as its own piece of infrastructure. Our B2i tokens, which will be used to actively participate on the network, are intended to become a source of revenue for holders.\n\nSo why release this alpha now? At a time when digital identities are being compromised at scale, (i.e. the recent Equifax, Yahoo, and even Parity data breaches), we believe blockchain needs its “Netscape” moment to more easily and securely satisfy demand for nodes which outpaces supply by over 48,000%.\n\nAccording to MIMR’s CEO Nicolas Fierro,\n\n“It comes down to having an opportunity to reward people for being honest. Sounds simple enough, but our MIMIR B2i Bridge can do just that by leveling the playing field which thwarts malicious actions through proof of stake validation. At the end of the day, we believe it’s critical that blockchain technology be available to be used by everyone that is off-chain without fear of security or potential scalability. If it can be, that would be a really tangible Netscape moment for blockchain.”\n\nPhase One of our alpha testing is now open to all developers. Those participants that contribute to the overall improvement of the early alpha will be eligible for rewards, including an invitation to earn more incentives by participating in Phase Two of our alpha testing.",
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      "body": "2018 will see a plethora of blockchain announcements and initial coin offerings (ICOs). Here’s how your business can tap into the blockchain growth without the hard-core development headaches.\n\nIf you’re old enough to remember the early days of the web (circa 1995), then all this talk of blockchain and cryptocurrencies may feel familiar. Long before the launch of Amazon (let alone Amazon Web Services) building an eCommerce site required a keen knowledge of everything from front-end coding in HTML to multiple competing back-end scripting languages.\n\nBack in the mid-90s, today’s concepts of cloud hosting and Software as a Service (SaaS) would have been foreign. And yet, one quintessential moment of the web was the launch of the Netscape browser because suddenly there was a new player built from the ground up to support the growth of web businesses.\n\nHistory Is About To Repeat Itself in Blockchain\n\nNow, as we enter 2018, we have the benefit of history to help us better understand the explosion of exuberance. When Kodak announced it was launching a cryptocurrency for photographers, it’s stock soared 89% in less than two days.\n\nBehind all of the investor speculation, there is a powerful shift occurring with the advancement of blockchain technology. It has the power to enable businesses to do everything more transparently and efficiently, such as eliminate background checks and fully automate legal agreements.\n\nThe trouble for most companies, however, is that they are playing catch-up in 2018 and don’t have a dedicated technical staff knowledgeable about how to implement blockchain technology within their business.\n\nThe Power and Simplicity of Blockchain As A Service\n\nOne company who has tackled the accessibility problem with blockchain is MIMIR Blockchain Solutions. “MIMIR is the world’s first Decentralized Ethereum Service Provider,” says John Licata, Chief Marketing Officer. “This is a new industry category that delivers Blockchain as a Service to those off-chain, thereby enabling countless businesses who would otherwise not be able to tap into the incredible power of the blockchain and truly bring this amazing technology to the masses.”\n\nWhile most companies leveraging blockchain are focused on B2C, MIMIR is enabling businesses of all sizes to focus on the many ways this technology improves B2B companies’ service offerings. “When you stop and think about just how many industries are going to be disrupted by blockchain technology, we’re proud to be an enabler for B2B companies looking to unlock the power of the blockchain for the unique needs of their industry,” Licata says.\n\nB2B Use Cases for Blockchain\n\nAnywhere a public ledger and enhanced encryption is more efficient and desirable, blockchain will provide a powerful alternative to the status quo. Here are some examples to illustrate how blockchain will disrupt many current business standards.\n\nIdentity Protection. Businesses are under constant threats from hackers looking to steal their data, especially personally identifiable customer data. With blockchain, customers control their own data with an encryption key so that the only two who have access are the business and the customer. Once fully implemented, companies leveraging blockchain to store individual customer records will become impractical targets for hackers, as the cost of the hack will be exorbitant.\nBackground Checks. One of the more costly and time-consuming functions of HR departments is validating employment history. Before making an offer, companies hire third parties to validate what candidates claim on their resumes. With blockchain, once there is a public ledger validating employment history, this will no longer require third party validation. One could envision a green checkmark next to each job listed on anyone’s LinkedIn profile once that position and dates have been validated using the blockchain.\nTitle Validation. Imagine never having to hire a title insurance company to validate that a property is, in fact, owned by the seller. Title insurance firms rake in $18 billion a year for a product that is arguably outdated, largely unneeded and currently protected by law. Once an encrypted public ledger is available, the real estate industry will benefit from lower closing costs.\n\nSupply Chain and Asset Tracking. Every business will benefit from a more transparent view of where assets are coming from. Let’s say that an airbag or other car part was recalled. Rather than creating a logistical nightmare for the auto industry, blockchain will quickly validate which cars are impacted by the recall as each part is tracked from original manufacturing all the way to installation and customer bill of sale. Ethical sourcing will likewise be easier to track and validate.\nSecure Funds Transfer. Securely moving money through wire transfers can be incredibly expensive, with fees charged on both sides of the transaction. Blockchain will likely reduce the cost of moving money around while increasing the security and protection for sender and receiver.\n\nThese are just a few of the examples where blockchain will play a significant role in the B2B space. Considering the countless inefficiencies and security risks in business today, blockchain could usher in the fastest adoption of a new technology in the history of the Internet. Thankfully, companies no longer have to be experts in the technology in order to benefit from the deployment of blockchain disruption.\n\nThis article appeared on Forbes and was written by Larry Myler: CEO By Monday, Inc., adjunct professor in the Rollins Center for Entrepreneurship & Technology at BYU, author of Indispensable By Monday.\nhttps://www.forbes.com/sites/larrymyler/2018/01/19/how-b2b-companies-unlock-blockchain-without-the-development-headaches/2/#7de291aa2eb1",
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      "body": "Congratulations @mimirblockchain! You have completed some achievement on Steemit and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/posts.png)](http://steemitboard.com/@mimirblockchain) Award for the number of posts published\n\nClick on any badge to view your own Board of Honor on SteemitBoard.\nFor more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)\n\nIf you no longer want to receive notifications, reply to this comment with the word `STOP`\n\n> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://www.marketslant.com/article/my-top-10-blockchain-christmas-wish-list",
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      "body": "![X-mas santa letter .jpeg](https://steemitimages.com/DQmRv1xFW8BHofuZhmJrY1gjA4GqXWwBFLcuMLETY7NfTvS/X-mas%20santa%20letter%20.jpeg)\n\nDear Santa,\n\nIt has been a pretty amazing year. Cryptocurrencies have skyrocketed, bitcoin may be the 2017 Word of the Year, and blockchain is finally breaking into more mainstream circles. I’m not going to lie, there have been a lot of naysayers trying to put coal in the stockings of crypto investors this holiday season, but I do recall even The Grinch had a change of heart in the end.\n\nChristmas came a little early for me this year Santa since I’ve decided to become the CMO of MIMIR Blockchain Solutions. While my faith in my new team is strong, I understand that challenges remain for us at a tech start-up and the blockchain industry at large.\n\nThis is why I wanted to write to you Santa. I hope you can add blockchain to the Nice List this year. There is so much good happening in and around this technology that people really need to know about and understand. So as I sip some hot cocoa by the fire, I’m hoping Santa can grant me what I desire.\n\nHere’s my list.\n\n1. Ethereum to lead the crypto race, and take its rightful leadership place.\n\n2. Education to make blockchain more easily understood, and rid the market of all falsehood.\n\n3. Distributed solutions to lead more mainstream codes, and act as a compliment to APIs and centralized nodes.\n\n4. ICO’s to be seen as more than a scam, and for real companies to rise for actually giving a damn (sorry Santa for saying “damn”).\n\n5. Less forks, more sporks.\n\n6. More blockchain companies to become partners and mates. This industry needs less friction, more means to collaborate.\n\n7. Legislation to help position our industry beyond Fintech. We don’t need vagueness and any more bottleneck.\n\n8. Actual case studies outside of CryptoKitties to prove validity. This will surely give blockchain more credibility.\n\n9. Blockchain to go down in history as a great tech tale without being shackled by fears of accessibility, security and scale.\n\n10. Santa to put the “Naughty and Nice” list on a blockchain for “St. Nick” himself to deal directly with Jimmy, Johnny and Jane.\n\nThis is my Christmas Wish List this year, Happy Christmas to all, and to all good cheer!!!\n\nBio: John Licata is the CMO of MIMIR Blockchain Solutions.",
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      "body": "Over the past few months, I've written several articles on blockchain as well as cryptocurrencies, their impact on entrepreneurs (including celebrity investors) as well as society as a whole. \n\nAnd a recent article in Bloomberg said it best, \"The problem with bitcoin and other so-called digital currencies is that they're a misuse of this technology.\" Simply put, the hype is reaching a point of frenzy as speculative investors look to cash in on initial coin offerings (ICOs). Beyond the hype, however, is an underlying technology that will most certainly impact our lives for years to come. \n\nUnderstanding the Blockchain Bubble\nI had the pleasure of speaking with CMO John Licata and Creative Content and Design Lead Mustafa Inamullah from MIMIR Blockchain Solutions who shared some interesting insights around today's blockchain bubble and the lasting impact of previous technology bubbles. I share all of this with you because there are some great insights here that all of us entrepreneurs should understand. \n\n\"The immense amount of digital currencies all end up cannibalizing each other's value due to excess capacity and supply,\" said Licata. \"People start to notice that the meteoric rise in coin prices is a thing of the past. Investors start to sell. This drops the price even more. More people start to sell. And then.... Pop! The downward trend of the bubble spirals out of control. It seems like the new technology is now doomed. But it's never the end of the tech.\"\n\nIn other words, bubbles don't kill the technology. The dot com bubble didn't stop the internet. The railroad bubble wasn't the end of trains. And the cryptocurrency bubble will not be the end of blockchain technology. After the bubble pops, the underlying infrastructure does not go away. Instead, the building blocks of the infrastructure get really cheap so that other companies can leverage it. \n\nThe Telegraph Bubble\n\"The telegraph bubble was the first for the Information Technology economy,\" says Inamullah. \"When Samuel Morse showed the world how he could transmit a message through wires, the world responded with yet another speculative bubble.The telegraph spur happened over the course of about 6 years. The countless miles worth of telegraph wire increased by 1,000%.\"\n\nIn fact, there were too many lines, and eventually most telegraph related startups died out. The pop of the bubble did not kill the infrastructure, however, as the wires were still around.\n\nTelegraph became so cheap and available, that companies which were able to leverage the infrastructure best turned into giants. This includes the Associated Press, Western Union, and the modern stock market. It was information and value based companies who were able to take advantage of telegraph the most.\n\nThese companies leveraged the infrastructure of the telegraph bubble and still thrive today. They did this by offering a very simplistic service through an existing oversupplied infrastructure with a fresh batch of interested users. Low costs, and high demand.\n\nThe Railroad Bubble\n\"About 50 years later you see the same story with railroads,\" says Licata. \"They get overbuilt and eventually about 25% of them go bankrupt. But this didn't mean the infrastructure disappeared. No one was going to fund the removal of railroads. Instead, prices to freight cargo just fell drastically.\"\n\nthose who could greatly benefit from bulk orders of products were well positioned to leverage this infrastructure. This is where you saw mail-order businesses grow. In fact, this was a significant revenue driver for former retail giant Sears for many years.\n\nMostly, you saw consumer goods based companies emerge as champions.\n\nProcter & Gamble, Coca-Cola, Heinz (recently acquired for over 20 billion dollars), and several others saw success because of their ability to leverage the infrastructure created by the railroad bubble. The greatly reduced cost to ship products around the world in large quantity made the cost of selling products across regions a fraction of what it used to be.\n\nDot Com Bubble\n\"The dot com and fiber optics bubbles are so closely related, that we can group them as one,\" says Inamullah. \"At one point there were over 90 million miles of fiber-optic cable. It was estimated that only about 5% of these cables were being used. This is the defacto sign of a bubble. Too much infrastructure was created. You probably already know who the winners were here.\" \n\nOnce the bubble popped and most of the start-ups withered away, consumers were left with easily accessible and extremely cheap internet. Next thing you know, everyone was connected to the web. So who took advantage of this resultant infrastructure and user base? This is where you saw online advertising, content, and ecommerce emerge. Companies like Google, Facebook, and Amazon are some of the biggest names in the business today.\n\nAll of these companies were able to leverage existing infrastructure to the greatest extent. Their scaling costs were extremely low, and they were able to make incredible profits as a result.\n\nThe Blockchain Bubble \nWe're seeing a clear pattern here, so what's the infrastructure for blockchain and who's going to be the Coca-Cola's and Amazon's of this bubble? Bitcoin started the blockchain bubble. Bitcoin may stay or Bitcoin may go, but what's definitely going to be with us is the underlying blockchain technology.\n\n\"The same infrastructure being spawned for the sake of cryptocurrencies has now created one of the most powerful computing networks in the world,\" says Licata. \"It's safe to say that this proliferation of blockchain infrastructure is another thing to be capitalized upon. Thousands of nodes synchronized together, constantly supporting one another in a decentralized fashion.\"\n\nThere are far too many ICO's and cryptocurrencies to properly keep track of now. Soon the most promising of these cryptocurrencies will have to viciously compete with one another over market share. You can already see Bitcoin greatly losing market share to Altcoins (despite a growing speculative price). You already see Bitcoin Cash, Ethereum Classic, and several other potential future forks. There are also several separate competing coins like Monero, Zcash, Ripple, Litecoin, etc. Most currencies will not survive the bubble burst.\n\nThis is just the harsh reality. By analyzing past bubbles, we can discern that companies that best leverage this newfound excess of infrastructure and growth of user base will be enormous players for time to come. \n\nPossible Blockchain Survivors\nCompanies like Golem, which created an AirBnB type market with blockchain infrastructure, are quite promising. They will soon have an enormous supply of affordable computing power at their disposal.\n\nThe recent crypto kitties example shows that a company can slide right in and leverage the existing infrastructure and user base. Unfortunately, the flooding of the network, increased gas costs, and delays of ICO's also showed that there isn't room for everyone. Eventually, most of these companies will die off. ICO's that are far too tied to the price of Ethereum will fail in a world where Ethereum doesn't survive the bubble.\n\nCompanies that can rely on infrastructure like supply chain solutions (like Viant) or distributed storage systems (like Filecoin), will likely have a stronger shot at surviving the collapse. They will be able to leverage the abundant infrastructure in order to greatly lower costs, and ride out the burst of the bubble.\n\n\"This analysis was a motivating reason reason why I joined the team at MIMIR Blockchain Solutions,\" says Licata. \"MIMIR's entire goal is to leverage blockchain infrastructure to seamlessly provide blockchain access to end users by greatly taking advantage of the enormous node network being created by the blockchain bubble.\"\n\nWhat MIMIR is building is quite reminiscent of what Verisign built during the dot com bubble. Verisign was an infrastructure layer that turned the existing internet into something useful for ecommerce. \n\nThese behind the scenes actions, similar to the role Linux had played with pushing the internet to the next wave, will become the \"magic\" behind the technology that stays for years to come.\n\nWhereas the biggest names in blockchain today may not be the biggest names tomorrow, be sure to look for companies that provide solutions across blockchain infrastructure. When the blockchain bubble pops, the infrastructure companies are the ones best poised for the post-hype future applications of this powerful technology. \n\nThis article was originally posted at Inc.com by Bill Carmody\n\nhttps://www.inc.com/bill-carmody/understanding-blockchain-bubble.html?2",
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      "author": "mimirblockchain",
      "body": "![Merklebeesnbirds.png](https://steemitimages.com/DQmZuHeXVixsKDiuz5ECMqDyRQgedwpa4s3CMYkWDmp2pvm/Merklebeesnbirds.png)\n\n<p><br></p>\n<p><em>This is episode 1 of ‘The birds, the bees, and the merkle trees’, a developer-focused educational series on blockchain technology. The purpose of this series is to give a bottom-up view of how blockchains work, by experimenting with and building core blockchain technologies. This series is for educational purposes only and should not be construed as advice or recommendations concerning best-practices for security, cryptography, etc… This series is developed openly on github, at</em> <code><em>forrest-marshall/bbmt-blog</em></code><em>.</em></p>\n<h3>Introduction</h3>\n<p>In <a href=\"https://medium.com/mimir-blockchain/the-birds-the-bees-and-the-merkle-trees-ep-0-blockchains-from-scratch-3cedb1e669eb\">episode zero</a> I introduced the goal for this series: to explore blockchain technology from the ground up by building toy versions of the foundational systems and structures that make blockchains possible. I gave a brief introduction to the properties that make blockchains interesting and useful, as well as my thoughts on why a bottom-up view of blockchain technology is important.In this episode, we will begin meeting the family of cryptographic tools that we will use throughout this series. Don’t worry if you aren’t familiar with cryptography at all; we’ll start from the beginning.</p>\n<blockquote><em>[Cryptography] is the practice and study of techniques for secure communication in the presence of third parties… — Wikipedia</em></blockquote>\n<p>Cryptography has its roots in secrets; early cryptography dealt primarily with how to keep secrets such that only the intended parties could read them. Cryptography was typically the domain of spies, military leaders, and the like. In more recent times, cryptography has branched out significantly to encompass just about any concern related to passing information in an adversarial scenario. Most people use a significant amount of cryptography every day, even if they are not aware of it. Cryptography guards the integrity of software updates, assures us that the websites that we visit are who they claim to be, and is integral to the functioning of all digital financial systems, blockchain or otherwise.Blockchain technology isn’t actually very ideal for keeping secrets. There are ways to do it, but the core value-proposition of a blockchain is its ability to ensure the integrity of a system’s information. There is nothing which prevents blockchains from housing secrets, but it isn’t their strength, and, in some cases, storing secrets on a blockchain can actually be a <em>very</em> bad idea (we will discuss this further at a later time). Since integrity is the core goal, we will focus on the cryptographic tools that allow us to ensure integrity. Two key challenges arise when we want to secure a system against invalid state or inputs: ensuring the accuracy of information within the system, and validating the identity of actors within the system. We will focus on the first problem for this episode, and tackle the second problem in the next episode.</p>\n<h3>Setup</h3>\n<p>If you are planning to follow along with examples, make sure that you have installed <a href=\"https://www.rust-lang.org/en-US/\">Rust</a>, as well as its associated package-manager <code>cargo</code> (covered in <a href=\"https://medium.com/mimir-blockchain/the-birds-the-bees-and-the-merkle-trees-ep-0-blockchains-from-scratch-3cedb1e669eb\">episode zero</a>). If you are not following along, you can safely skip this section.The <code>cargo</code> package-manager includes a set of helpful commands for instantiating, building, and running Rust projects. Create a new binary (executable) project with <code>cargo new ep1-examples --bin</code>. This command will create the following file-structure:</p>\n<pre><code>ep1-examples/ <br>\n<br>\n├── Cargo.toml <br>\n<br>\n└── src/ <br>\n<br>\n &nbsp;&nbsp;&nbsp;└── main.rs</code></pre>\n<p>The <code>Cargo.toml</code> file specifies dependencies, as well as the name and authorship of the project. The <code>main.rs</code> file is the core of our program, and is instantiated with the following code by default:</p>\n<p>If you <code>cd</code> into the main project directory and execute <code>cargo run</code>, the project should compile and print out <code>Hello, world!</code>.For this demonstration we will need to use one dependency, the <code>eth-crypto</code>crate (Rust refers to its libraries as \"crates\", in keeping with Rust's industrially inspired naming system). Tell cargo where to acquire the dependency by adding the following line to the <code>Cargo.toml</code> file under the <code>[dependencies]</code>section:</p>\n<p>Once the dependency has been listed, we can bring it into scope within our code by adding these lines to the top of the <code>main.rs</code> file:</p>\n<p>The <code>extern crate</code> line tells the compiler to look for a crate named <code>eth_crypto</code>. Once a crate has been brought into scope, we can import items from the crate with <code>use</code> statements. In our case, we are importing the entire contents of of the <code>prelude</code> module, which contains most of the commonly used types and functions from this library. The use of a <code>prelude</code> module as a shortcut for importing a library's most commonly used elements is a very common pattern in Rust.</p>\n<h3>Cryptographic Hashing Functions</h3>\n<p>The general definition of a hashing function is a function which produces a fixed-size output for an arbitrary sized input. A simple example of this property would be a function which divides any whole number by 2 and returns the remainder of the division. The output of this function would always be either 0 or 1, regardless of the size of the input number. The output of this function is also <em>deterministic</em>, meaning that it will always produce the same output for a given input.Cryptographic hashing functions are a special subset of hashing functions which are suitable for use in cryptography. The goal of a cryptographic hashing function is to be a one-way function. This means that it should, in theory, be impossible to reverse a hashing function and thereby determine what input values produced a given output. Furthermore, it should be infeasible to find two similar inputs which produce the same output (an event referred to as a “collision”). If built correctly, a cryptographic hashing function can be thought of as a finger-printer for data. If a piece of data produces a given output, that output serves as a unique identifier for the data. If the data is tampered with in any way, it will no longer match the original hash, and can easily be shown to be invalid.The <code>eth-crypto</code> crate uses the <code>keccak-256</code> hashing function, which is the default hashing function used by the <a href=\"https://en.wikipedia.org/wiki/Ethereum#Ethereum_Virtual_Machine\">Ethereum Virtual Machine</a>. The <code>keccak-256</code> hashing function produces a 256 bit output value, and is generally considered, as of the time of writing, a secure and reliable hasher. Lets take a look at the difference between two similar inputs:</p>\n<p>Adding the above code to your <code>main</code> function and running the new code (<code>cargo run</code>) should produce this output:</p>\n<p>So, what did we just do here? First, we declared a mutable array of bytes. For security and optimization reasons, Rust always forces us to be explicit about wanting to be able to mutate (modify) any variables that we declare. Next, we pass an immutable reference to the array into the <code>hash</code> function, saving the output. Immutable references, indicated by the <code>&amp;</code> symbol, allow a function to temporarily read a piece of data without allowing the function to modify that data, another key element in Rust's security and safety guarantees. The third line is where things get interesting. By changing the first byte of the array from <code>1</code> to <code>0</code>, we have actually only modified a single binary bit. A byte of value <code>1</code> is represented in binary as <code>00000001</code>. A byte of value <code>0</code> is, unsurprisingly, represented as <code>00000000</code>. After flipping this bit, we hash again. When we print out the two hashes, we see that the two values are wildly different even though their respective inputs only differed by a single bit. This is the real magic of a cryptographic hashing algorithm; the apparent difference or similarity of two inputs has no correlation with the difference or similarity of their respective outputs.</p>\n<h3>Hashing in the&nbsp;Wild</h3>\n<p>The above example demonstrated an important property, but it wasn’t particularly interesting or useful. Lets take a look at how we might use hashing to build a rudimentary cryptographic trust protocol. Suppose Alice has a secret clubhouse. Anyone who knows the password may enter the clubhouse. Bob believes he knows the password, and wants to enter the clubhouse. Unfortunately, Eve is outside the clubhouse listening, so Bob cannot simply speak the password. Alice could just ask Bob for the hash of the password, but if she did that then Eve could use the hash to get in via the same system. How can Alice check if Bob knows the password without making the clubhouse vulnerable to Eve?Hint:</p>\n<p>So what exactly does the above function do? It takes two strings, <code>password</code>and <code>challenge</code>, and a hash named <code>response</code>. The function returns a <code>bool</code>(true/false) value, indicated by the <code>-&gt;</code> operator. Internally, we are hashing the <code>password</code> and <code>challenge</code> strings together by passing them to <code>hash_many</code>inside of a reference to an array. We then check whether or not the hash we produced is equal to the <code>response</code> hash. Note that the function is returning the result of the <code>==</code> comparison operator automatically. If the last line of a function does not end with a semi-colon, Rust infers that the value of that expression is the value to return.The solution is to have Alice provide a randomly generated challenge phrase. Bob can hash the password <em>and</em> the challenge phrase together. This will allow Alice to easily check if Bob knows the password, but won’t provide Eve with any information that she could use to enter the clubhouse by the same process. If we model the entire process in code, it looks like this:</p>\n<p>The above process is not wholly dissimilar from how user passwords are stored in many systems. Storing a password is very dangerous, as any party which gained access to the system could read all the passwords. Instead of storing the password itself, a random value known as a ‘salt’ is stored along with a hash of the salt and password combined. This allows a password to be verified without needing to save the password itself to disk. The randomness of the salt prevents attackers from using a pre-computed database of the hashes of common passwords to attempt to determine the password that is in use.</p>\n<h3>Conclusion</h3>\n<p>Cryptographic tools give us the ability to secure information and information-based systems against malicious actors. Different cryptographic tools are useful for different kinds of securement. Cryptographic hashing functions offer us the ability to uniquely identify information in a manner which is incredibly difficult to forge or reverse. With a little creativity, hashing can be used to secure systems from many different threats, including tampering, forgery, and surveillance. In a future episode we will learn about how hashing may even be used to measure investment of computational resources.</p>\n<h3>Up Next</h3>\n<p>In the next episode we will be discussing identity-based cryptography. We will experiment with Elliptic Curve Cryptography to generate secure digital signatures, and look at how digital signature algorithms allow us to make secure public identities and accounts.</p>\n<p><br></p>\n<p>Author: Forrest Marshall is an Open-Source enthusiast, crypto nerd, and Co-Founder &amp; Software Architect at Mimir Blockchain Solutions. https://mimirblockchain.solutions</p>\n</html>",
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      "title": "The Birds, the Bees, and the Merkle Trees Ep[1]: Hashing Things Out"
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