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      "author": "steemitboard",
      "permlink": "steemitboard-notify-robtg4-20190513t170826000z",
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      "body": "Congratulations @robtg4! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@robtg4/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/@robtg4) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=robtg4)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/japanese/@steemitboard/new-japanese-speaking-community-steem-meetup-badge\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmRWbAjbeETEaqSPLcpwYX1JN5pZhdPffv4q6DaBs6xvZm/image.png\"></a></td><td><a href=\"https://steemit.com/japanese/@steemitboard/new-japanese-speaking-community-steem-meetup-badge\">New  japanese speaking community Steem Meetup badge</a></td></tr></table>\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": "I agree into this! Thanks for informing us. But anyways I would like to share something that would lighten up your day! An exchange is now celebrating their anniversary and would be giving awa btc. Hurry and join. https://www.kucoin.com/#/anniversary/overview",
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      "title": "Hyperledger: Blockchain for a Web 2.0 Architecture",
      "body": "<html>\n<p><img src=\"https://cdn-images-1.medium.com/max/1600/1*NWdPPj6NvicKqZUq9MMlmA.png\" width=\"1600\" height=\"486\"/></p>\n<p><br></p>\n<p>After researching the Hyperledger project, I wanted to provide simple outline describing what it is, and what assumptions the project makes within the broader implementation of enterprise (or “mass-market”) blockchain applications and networks:</p>\n<h3>So what is Hyperledger?</h3>\n<p>Hyperledger is an enterprise-focused, plug and play, Blockchain framework that can be customized by companies and implemented privately on sed company’s network. The core features of Hyperledger are identity, audibility, private transactions, confidential contracts, modular consensus, performance, scalability, and chaincode. Here’s a few core differences between Ethereum and Hyperledger:</p>\n<ul>\n  <li><strong>Instead of Smart Contracts, Hyperledger has “Chaincode,”</strong> which supports the JAVA, Golang, and JavaScript languages</li>\n  <li><strong>Hyperledger focuses on private, siloed Blockchain implementations</strong>, where participating nodes are registered by a central authority and heavily permissioned and can transact privately</li>\n  <li><strong>In Hyperledger, there exists a “Registration Authority”</strong> which can issue and revoke identities that are participating on the network</li>\n  <li>With Hyperledger, <strong>confidentiality is achieved by encrypting the transactions</strong>such that only the stakeholders can decrypt and execute them</li>\n  <li>With Hyperledger, <strong>contracts can be cryptographically secured</strong> so that it only gets loaded and decrypted at runtime</li>\n  <li><strong>Businesses use their own plug-in consensus algorithm</strong> with Hyperledger. It uses a “Consensus Manager” to organize transactions</li>\n  <li>Hyperledger has <strong>Reputation Managers that enable auditors to view transactions</strong>pertaining to a participant&nbsp;, given access</li>\n  <li>Hyperledger has controllable/customizable <strong>“Membership Services,” including Identity Management, Registration, and Auditability</strong></li>\n  <li><strong>“Membership Services” uses Google RPC P2P Protocol</strong> (HTTP/2 standards), working with existing Internet infrastructure</li>\n  <li><strong>Hyperledger’s Distributed Ledger uses RocksDB to persist the dataset,</strong> where large data sets are stored off-chain</li>\n  <li><strong>Hyperledger supports two types of transactions</strong>: (1) Code-deploying that submits/updates chaincode and (2) Code-invoking that calls chaincode functions</li>\n  <li>In Hyperledger, blockchain <strong>state changes are committed to the database</strong></li>\n  <li><strong>In Hyperledger, there are 3 deployment models:</strong> (1) Cloud Hosted 1-Network, (2) Cloud Hosted Many-Networks, (3) Participant Hosted Intranet</li>\n</ul>\n<h3>Why does the Application Stack look like for Hyperledger?</h3>\n<ul>\n  <li><strong>View Logic:</strong> Mobile or Web UI</li>\n  <li><strong>Control Logic:</strong> UI to Hyperledger API logic driving chaincode function calls</li>\n  <li><strong>Data Model:</strong> Manages off-chain data storage</li>\n  <li><strong>Blockchain Logic:</strong> Chaincode that communicates on blockchain</li>\n</ul>\n<h3>Why is it important?</h3>\n<p>It is important to companies that would like to utilize an open-source framework to develop their Blockchain application proof-of concepts in an “enterprise-forward” fashion, were central units still control major aspects of internal (and private) blockchain networks.</p>\n<h3>What is the “Hyperledger audience”?</h3>\n<p>Enterprise companies doing private network Blockchain application Proof-of-Concepts.</p>\n<h3>What assumptions does the Hyperledger project&nbsp;make?</h3>\n<p>This is where it gets fun! I was concerned with the following aspects of Hyperledger’s architecture, primarily because they serve as potentially massive attack vectors on this type of blockchain ecosystem:</p>\n<p><br></p>\n<p><strong>Assumption 1: Using Cloud Hosted Network Topologies is Decentralized Given Contractual Control of Nodes</strong></p>\n<p>The Hyperledger White Paper quotes when talking about the <strong>Cloud hosted one network</strong>,</p>\n<p><em>“Even though the network is in a cloud and hosted by a vendor who owns the physical hardware, the participants contractually control the computing resources, making the configuration decentralized within a centralized environment.”</em></p>\n<p>….No. Just no. I don’t consider myself particularly smart and even I know that this is a major assumption. Attacks can still be made on the hardware of your Cloud host, or the Cloud host themselves can meddle with your hardware, OR a host of other attacks on how your network of nodes finds consensus. <strong>Just because you have “Contractual” control over something, unless there’s a damn good smart contract enforcing sed control, then you don’t have control.</strong></p>\n<p><br></p>\n<p><strong>Assumption 2: Reputation Managers, Registration Authorities, and Consensus Managers are not central points of failure</strong></p>\n<p>This is a glaring attack vector that enterprises are going to have to reconcile. If you want centralized control over a blockchain, something that was born our of decentralized consensus, then you’re going to have to think harder than literally outlining central points of failure that manage your Member Services and network consensus.Of course, there can be clever implementations of which node (or groups of nodes) serve as the network’s Reputation Managers, Registration Authorities, and Consensus Managers.</p>\n<p><br></p>\n<p><strong>Assumption 3: “Membership Services” uses Google RPC P2P Protocol (HTTP/2 standards)</strong></p>\n<p>The assumption being made here is that mass markets (particularly commercial, business to customer markets) will use Web 2.0 far into the foreseeable future. The whole point of Ethereum’s existence is to usher in transaction forward Web 3.0 architecture with Swarm, and Whisper, amongst a plethora of decentralized applications based on sub-currencies of Ether.Running Membership Services using a HTTP/2 based P2P Protocol will only last so long. Yes, maybe decades, but certainly not 100 years.</p>\n<p><br></p>\n<p><strong>Assumption 4:</strong> <strong>Blockchain state changes are committed to the database</strong></p>\n<p>I really do hope I read the White Paper incorrectly when I saw this:</p>\n<p><em>“As transactions are run in a new block, a delta from the world state in the last block on the blockchain is maintained. If consensus is reached for the current block, the changes are committed to the database, and the world state block number is incremented by 1. If peers do not reach consensus, the delta is discarded and the database is not modified.”</em></p>\n<p>….So are we persisting our state changes to the RockDB database? A literal central point of failure that, if tampered with, could destroy all participating nodes’ understanding of what the current state of the network is? <strong>Please call me out on this if I am misunderstanding — because I really hope I am.</strong></p>\n<p><br></p>\n<p><strong>Assumption 5: Businesses use their own plug-in consensus algorithm</strong></p>\n<p>Developing customized consensus algorithms to maintain private blockchains within a framework with centralized attack vectors is not smart. Businesses need to learn to retrofit existing Blockchain networks to use in private ways, like J.P. Morgan Chase did with Quorum. If you mess up your consensus algorithm, even a tiny bit, your customers will feel the wrath that bad nodes unleash on your network, potentially costing your company billions of dollars.</p>\n<p><br></p>\n<p>What are your thoughts? Let’s discuss!</p>\n</html>",
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      "body": "Great article! Try a more click bait style title and add a picture next time, so you will attract more readers.",
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      "body": "Thanks dawg!",
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      "title": "The Ins and Outs of CryptoCurrency Trading",
      "body": "Many of you have now heard about Bitcoin and even Ethereum, but are unsure about how to transition some of your financial assets into their respective cryptocurrencies. Beyond that, you may not have a defined investment strategy to something so novel, and oftentimes chaotic.\n\nLet's start with my first word of advice, \"DO NOT COME INTO THIS WITH A STOCK MARKET MINDSET.\" Investing in cryptocurrency, even now, is still a very early, speculative, and fast evolving game. Mainstream adoption is easily 5-10 years into the future and I guarantee most of your corporate friends don't really know much about it.\n\nSo here's the steps to learn, invest, and repeat on promising cryptocurrencies across the Internet:\n\n### Read the Bitcoin Whitepaper and Learn the Basics of Blockchain and Smart Contracts.\nIt is essential that you have context around your investment. These cryptocurrencies (some of them anyway) are based on executable and market changing technologies - the currency itself is simply one part of that technologies ecosystem, much like the blood in your veins. Read the Bitcoin Whitepaper regardless of any investment you make because all of this began with the creation of decentralized consensus and the solution to double spending. Next, familiarize yourself with the basics of blockchain and Ethereum smart contracts.\n\n### Download (or Buy) a Secure Wallet\nSecuring your funds is crucial. A general rule of thumb is to keep 80% of your assets on at least a client, paper, or hard wallet. A client wallet is a software application that downloads onto your computer and holds your digital currency on your computer (but, technically, offline - at least when your Internet is disconnected). A paper wallet is a wallet in which you print out, or write down the private key in order to access your currency. Finally, a hard wallet is a literal hardware device that you can keep offline and off your computer to store and safeguard your crypto assets. Here are some great resources for each type of wallet (listed for Ethereum and Bitcoin based tokens only):\n\n* Bitcoin - Bitcoin Paper Wallet, Bitcoin Client Wallets, Bitcoin Hardware Wallets,\n* Ethereum - MIST (Client), MEW (Paper), MetaMask (Client),\n\n### Choose your Cryptocurrency Interest(s)\nChoosing which currencies (tokens) that you're investing in is a crucial decision. Don't think that you are going to just start day trading and forgo the possibility of getting scammed. Research the teams and origins of the currencies you invest in. Here's an extremely simplified, but concise, summary of the coins I focus on.\n\n* IOTA - excellent environment that's build on Tangle, a next generation Blockchain technology that doesn't use \"Blockchain\" at all. In fact, it remedies many of the sustainability issues that Blockchain environments face - like increasing transaction fees (because it has free transactions) and transaction processing time.\n* GNT - excellent (in theory) environment based on Ethereum - Distributed and decentralized computational power. The Golem Network is a decentralized sharing economy of computing power, where anyone can make money 'renting' out their computing power or developing & selling software. \n* BTC - genesis of Blockchain technology with highest market cap. Driving tenants of its price are (currently) BIPs trying to remedy Bitcoin's transaction malleability and Blockchain size problems (to prevent slow transactions and high transaction fees), ETF exchange denials by the SEC in the US, and Rootstock\n* ETH - excellent environment, different from BTC because it's a Blockchain that you can more easily build decentralized applications and decentralized autonomous organizations on top of \n* XRP - institutionally backed by many big banks, but it's a centralized - pump and dump currency. Most likely will reach mainstream adoption in the US first, at least on Wall Street\n* BCN - Anonymous currency based on cryptonote w/ extremely high earning potential, very cheap, very minable\n\n### Pick Your Exchange Poison\nIf you're day-trading you may want to stay with the more widely known exchanges like BTC-e, Poloniex, Bittrex, and Coinbase. Depending on the currencies that you want to invest in, the latter exchanges may not all be available for your investment purposes (given the currencies available on their exchange). If you want to focus on newly sold tokens (ones that recently had a \"Initial Coin Offering,\" or, more appropriately, \"Token Sale,\" then use Liqui.\n\n### Keep Up to Date and Find Your Investment Communities\nCoinTelegraph, Steemit, and the Crypt0 YouTube channel are excellent, up-to-date sources of information. Become a student of the market and you will soon become one of the first thought leaders in the space - remember, we are still on the ground floor!\n\nFIND THIS BLOG WITH LINKS HERE: https://www.linkedin.com/pulse/ins-outs-cryptocurrency-trading-robert-greenfield-iv\n\nRobert Greenfield is a Certified Bitcoin Professional, Cisco Software Engineer, and Blockchain specialist with work experience @Goldman Sachs, American Express, and Teach For America. Follow him on Twitter @RobTG4",
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      "permlink": "the-failing-sustainability-of-blockchain-magic",
      "title": "The Failing Sustainability of Blockchain Magic",
      "body": "![AAEAAQAAAAAAAArYAAAAJDQyMGIzNjM3LWM5NTAtNDZlOC05YTEzLTFjNGExMWQ2YjIxYw.jpg](https://steemitimages.com/DQmXux5eVQKtZ6J6wrRkzdmaczGPZWcf6eLDvzrcd482djX/AAEAAQAAAAAAAArYAAAAJDQyMGIzNjM3LWM5NTAtNDZlOC05YTEzLTFjNGExMWQ2YjIxYw.jpg)\n\nBlockchain is a distributed network that relies on “decentralized consensus” across many nodes. In Bitcoin — it is a literal record of all transactions that have taken place, and this record cannot be altered/tampered with since each node (computer) in the system as a record of the blockchain.\n\nThis means, if 99% of all the nodes connected within the Blockchain network were destroyed, the record of transactions would still be safe as that last 1% would have a copy of the transactions to share with new nodes.\n\n![0-xsbuNsBijt-lqKyd.png](https://steemitimages.com/DQmZuatp3KpouNUWp61w7PVGvGoaP8L4cPTH9ya1YFtciA6/0-xsbuNsBijt-lqKyd.png)\n\nAs described by William Mougayar, Venture advisor, 4x entrepreneur, marketer, strategist and blockchain specialist.\n\n“The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to make revisions to it. The problem with that scenario is that you need to wait until receiving a return copy before you can see or make other changes because you are locked out of editing it until the other person is done with it. That’s how databases work today. Two owners can’t be messing with the same record at once.That’s how banks maintain money balances and transfers; they briefly lock access (or decrease the balance) while they make a transfer, then update the other side, then re-open access (or update again). With Google Docs (or Google Sheets), both parties have access to the same document at the same time, and the single version of that document is always visible to both of them. It is like a shared ledger, but it is a shared document. The distributed part comes into play when sharing involves a number of people.”\n\nThere are plenty of magical use cases for Blockchain technology, including Decentralized Applications (DApps) and even Decentralized Autonomous Organizations (DAOs).\n\nThe PROBLEM with this system is that for each transaction, there is an associated fee, because Blockchain systems are “Proof of Work” environments — meaning each transaction needs to be verified and added to a “Block” (a group of transactions), which is then added to a “Chain” (a chronologically arranged list of “Blocks”). These transactions are verified via the processing power of other computers on the network (“Miners”), which then add that “Block” to the Chain of past processed Blocks of transactions. As a reward, those computers get Bitcoin (12.5 BTC currently to be exact — or approximately ~$21,250.00).\n\n![0-qcKIsLK79cnpSTUP.png](https://steemitimages.com/DQmehx8PJCQsKe5rxAGBEWxaLGK4iu9pPgmf7rj6Zaszh6y/0-qcKIsLK79cnpSTUP.png)\n\nBut this is unsustainable. It means that you have to spend money when testing transactions on Blockchain based environments like Ethereum, and, with more users on your network, transaction costs increase and the average transaction time increases (due to decreasing affordability).\n\n![0-FtcXPHpf-qO8D3pB.png](https://steemitimages.com/DQmQTdKSBRRNHFTzZ6XRXCJHUr8PGSbAmCGuuCi6zxV7Rnt/0-FtcXPHpf-qO8D3pB.png)\n\n\nSo how will this be solved? How can we keep the magic that Blockchain applications bring to the world? Well environments like IOTA Tangle seem to have been working on next-generation methods of processing transactions (meaning any action) without fees or mining.\n\nRegardless, Blockchain and cryptocurrencies is and will change the world forever — in every industry. How will your business keep up?\n\nRobert Greenfield is a Certified Bitcoin Professional, Cisco Software Engineer, and Blockchain specialist with work experience @Goldman Sachs, American Express, and Teach For America. Follow him on Twitter @RobTG4",
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