Ecoer Logo
VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
0.007USD
STEEM
0.000STEEM
SBD
0.000SBD
Effective Power
5.007SP
├── Own SP
0.126SP
└── Incoming Deleg
+4.881SP

Detailed Balance

STEEM
balance
0.000STEEM
market_balance
0.000STEEM
savings_balance
0.000STEEM
reward_steem_balance
0.000STEEM
STEEM POWER
Own SP
0.126SP
Delegated Out
0.000SP
Delegation In
4.881SP
Effective Power
5.007SP
Reward SP (pending)
0.000SP
SBD
sbd_balance
0.000SBD
sbd_conversions
0.000SBD
sbd_market_balance
0.000SBD
savings_sbd_balance
0.000SBD
reward_sbd_balance
0.000SBD
{
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "reward_steem_balance": "0.000 STEEM",
  "vesting_shares": "204.178882 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7939.480924 VESTS",
  "sbd_balance": "0.000 SBD",
  "savings_sbd_balance": "0.000 SBD",
  "reward_sbd_balance": "0.000 SBD",
  "conversions": []
}

Account Info

names3quence
id826605
rank1,098,776
reputation64646417
created2018-03-12T15:37:15
recovery_accountsteem
proxyNone
post_count6
comment_count0
lifetime_vote_count0
witnesses_voted_for0
last_post2018-06-13T19:40:42
last_root_post2018-06-13T19:40:42
last_vote_time2018-06-14T17:02:57
proxied_vsf_votes0, 0, 0, 0
can_vote1
voting_power0
delayed_votes0
balance0.000 STEEM
savings_balance0.000 STEEM
sbd_balance0.000 SBD
savings_sbd_balance0.000 SBD
vesting_shares204.178882 VESTS
delegated_vesting_shares0.000000 VESTS
received_vesting_shares7939.480924 VESTS
reward_vesting_balance0.000000 VESTS
vesting_balance0.000 STEEM
vesting_withdraw_rate0.000000 VESTS
next_vesting_withdrawal1969-12-31T23:59:59
withdrawn0
to_withdraw0
withdraw_routes0
savings_withdraw_requests0
last_account_recovery1970-01-01T00:00:00
reset_accountnull
last_owner_update1970-01-01T00:00:00
last_account_update1970-01-01T00:00:00
minedNo
sbd_seconds0
sbd_last_interest_payment1970-01-01T00:00:00
savings_sbd_last_interest_payment1970-01-01T00:00:00
{
  "id": 826605,
  "name": "s3quence",
  "owner": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5bNYFYzH2vwB9avkSwYpaQactBYmqKn3VNXfg4WjhNaFL3uBhm",
        1
      ]
    ]
  },
  "active": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM6LCgHSaf2f6ofCEsc17VizfCUgbaW2LhsY7o1WeWe6G4ynpeWa",
        1
      ]
    ]
  },
  "posting": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM7dygWnPRHVQcpgsgQKKLzBHZHeW7M4dRE666bMVNVv5ZpPSty6",
        1
      ]
    ]
  },
  "memo_key": "STM73NXUBDuGLTH5RAbgeyU5DegvkEaGb1XAP2oRtozzu78TsMLWY",
  "json_metadata": "{}",
  "posting_json_metadata": "",
  "proxy": "",
  "last_owner_update": "1970-01-01T00:00:00",
  "last_account_update": "1970-01-01T00:00:00",
  "created": "2018-03-12T15:37:15",
  "mined": false,
  "recovery_account": "steem",
  "last_account_recovery": "1970-01-01T00:00:00",
  "reset_account": "null",
  "comment_count": 0,
  "lifetime_vote_count": 0,
  "post_count": 6,
  "can_vote": true,
  "voting_manabar": {
    "current_mana": "8143659806",
    "last_update_time": 1779083979
  },
  "downvote_manabar": {
    "current_mana": 2035914951,
    "last_update_time": 1779083979
  },
  "voting_power": 0,
  "balance": "0.000 STEEM",
  "savings_balance": "0.000 STEEM",
  "sbd_balance": "0.000 SBD",
  "sbd_seconds": "0",
  "sbd_seconds_last_update": "1970-01-01T00:00:00",
  "sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_sbd_balance": "0.000 SBD",
  "savings_sbd_seconds": "0",
  "savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
  "savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
  "savings_withdraw_requests": 0,
  "reward_sbd_balance": "0.000 SBD",
  "reward_steem_balance": "0.000 STEEM",
  "reward_vesting_balance": "0.000000 VESTS",
  "reward_vesting_steem": "0.000 STEEM",
  "vesting_shares": "204.178882 VESTS",
  "delegated_vesting_shares": "0.000000 VESTS",
  "received_vesting_shares": "7939.480924 VESTS",
  "vesting_withdraw_rate": "0.000000 VESTS",
  "next_vesting_withdrawal": "1969-12-31T23:59:59",
  "withdrawn": 0,
  "to_withdraw": 0,
  "withdraw_routes": 0,
  "curation_rewards": 0,
  "posting_rewards": 0,
  "proxied_vsf_votes": [
    0,
    0,
    0,
    0
  ],
  "witnesses_voted_for": 0,
  "last_post": "2018-06-13T19:40:42",
  "last_root_post": "2018-06-13T19:40:42",
  "last_vote_time": "2018-06-14T17:02:57",
  "post_bandwidth": 0,
  "pending_claimed_accounts": 0,
  "vesting_balance": "0.000 STEEM",
  "reputation": 64646417,
  "transfer_history": [],
  "market_history": [],
  "post_history": [],
  "vote_history": [],
  "other_history": [],
  "witness_votes": [],
  "tags_usage": [],
  "guest_bloggers": [],
  "rank": 1098776
}

Withdraw Routes

IncomingOutgoing
Empty
Empty
{
  "incoming": [],
  "outgoing": []
}
From Date
To Date
steemdelegated 4.881 SP to @s3quence
2026/05/18 05:59:39
delegatorsteem
delegatees3quence
vesting shares7939.480924 VESTS
Transaction InfoBlock #106150307/Trx 33ec58786a438e73a3c96e0b6cd70abda0fa8ce2
View Raw JSON Data
{
  "trx_id": "33ec58786a438e73a3c96e0b6cd70abda0fa8ce2",
  "block": 106150307,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-18T05:59:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "7939.480924 VESTS"
    }
  ]
}
steemdelegated 3.214 SP to @s3quence
2026/05/13 03:10:00
delegatorsteem
delegatees3quence
vesting shares5227.270519 VESTS
Transaction InfoBlock #106003637/Trx b122783fe0066f0cb3b5db04f358c12306cd51f5
View Raw JSON Data
{
  "trx_id": "b122783fe0066f0cb3b5db04f358c12306cd51f5",
  "block": 106003637,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-05-13T03:10:00",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "5227.270519 VESTS"
    }
  ]
}
steemdelegated 4.889 SP to @s3quence
2026/04/26 05:11:45
delegatorsteem
delegatees3quence
vesting shares7951.996680 VESTS
Transaction InfoBlock #105517798/Trx 6b0bd74035c392ec16f1d4cb5f707857ab7b87e9
View Raw JSON Data
{
  "trx_id": "6b0bd74035c392ec16f1d4cb5f707857ab7b87e9",
  "block": 105517798,
  "trx_in_block": 3,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-04-26T05:11:45",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "7951.996680 VESTS"
    }
  ]
}
steemdelegated 3.239 SP to @s3quence
2026/01/23 23:14:09
delegatorsteem
delegatees3quence
vesting shares5268.817338 VESTS
Transaction InfoBlock #102870301/Trx 121a4f089634beba43f98ef240849b5eaf7917c2
View Raw JSON Data
{
  "trx_id": "121a4f089634beba43f98ef240849b5eaf7917c2",
  "block": 102870301,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2026-01-23T23:14:09",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "5268.817338 VESTS"
    }
  ]
}
steemdelegated 3.340 SP to @s3quence
2024/12/17 18:24:36
delegatorsteem
delegatees3quence
vesting shares5433.036535 VESTS
Transaction InfoBlock #91316522/Trx d3b387991e36ebfd2c60fbfab32432d5cf194e21
View Raw JSON Data
{
  "trx_id": "d3b387991e36ebfd2c60fbfab32432d5cf194e21",
  "block": 91316522,
  "trx_in_block": 1,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2024-12-17T18:24:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "5433.036535 VESTS"
    }
  ]
}
steemdelegated 3.444 SP to @s3quence
2023/11/14 10:05:54
delegatorsteem
delegatees3quence
vesting shares5602.170067 VESTS
Transaction InfoBlock #79870676/Trx 4a8783eda055bd3cdec14d051a338c578a9aa3b5
View Raw JSON Data
{
  "trx_id": "4a8783eda055bd3cdec14d051a338c578a9aa3b5",
  "block": 79870676,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-11-14T10:05:54",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "5602.170067 VESTS"
    }
  ]
}
steemdelegated 5.250 SP to @s3quence
2023/09/22 10:02:36
delegatorsteem
delegatees3quence
vesting shares8539.078853 VESTS
Transaction InfoBlock #78362448/Trx 732494ca84803470271ffd2a8ccc0ce6f9ddb05a
View Raw JSON Data
{
  "trx_id": "732494ca84803470271ffd2a8ccc0ce6f9ddb05a",
  "block": 78362448,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2023-09-22T10:02:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "8539.078853 VESTS"
    }
  ]
}
steemdelegated 5.387 SP to @s3quence
2022/11/03 17:32:54
delegatorsteem
delegatees3quence
vesting shares8761.130291 VESTS
Transaction InfoBlock #69120242/Trx f666ec1809aab3dec524a490987aec5267e34756
View Raw JSON Data
{
  "trx_id": "f666ec1809aab3dec524a490987aec5267e34756",
  "block": 69120242,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-11-03T17:32:54",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "8761.130291 VESTS"
    }
  ]
}
steemdelegated 5.522 SP to @s3quence
2022/01/17 22:46:39
delegatorsteem
delegatees3quence
vesting shares8981.237892 VESTS
Transaction InfoBlock #60823527/Trx f6f1c9ed34213721d3ae4dd1fa96de4e2d461778
View Raw JSON Data
{
  "trx_id": "f6f1c9ed34213721d3ae4dd1fa96de4e2d461778",
  "block": 60823527,
  "trx_in_block": 40,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2022-01-17T22:46:39",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "8981.237892 VESTS"
    }
  ]
}
steemdelegated 5.635 SP to @s3quence
2021/06/14 05:58:21
delegatorsteem
delegatees3quence
vesting shares9165.432180 VESTS
Transaction InfoBlock #54613870/Trx 71a5dd7f96e65beb9c58d710433ec65a74286be2
View Raw JSON Data
{
  "trx_id": "71a5dd7f96e65beb9c58d710433ec65a74286be2",
  "block": 54613870,
  "trx_in_block": 7,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2021-06-14T05:58:21",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "9165.432180 VESTS"
    }
  ]
}
steemdelegated 5.750 SP to @s3quence
2020/12/11 16:11:06
delegatorsteem
delegatees3quence
vesting shares9352.854154 VESTS
Transaction InfoBlock #49361145/Trx c50b728428fcb71b6be3f0a802cbda70cd55fbcb
View Raw JSON Data
{
  "trx_id": "c50b728428fcb71b6be3f0a802cbda70cd55fbcb",
  "block": 49361145,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-11T16:11:06",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "9352.854154 VESTS"
    }
  ]
}
steemdelegated 1.176 SP to @s3quence
2020/12/06 09:46:51
delegatorsteem
delegatees3quence
vesting shares1912.543513 VESTS
Transaction InfoBlock #49212670/Trx b98691009f45c6b5a17c1891a9b47b2c9d676c51
View Raw JSON Data
{
  "trx_id": "b98691009f45c6b5a17c1891a9b47b2c9d676c51",
  "block": 49212670,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-06T09:46:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "1912.543513 VESTS"
    }
  ]
}
steemdelegated 5.754 SP to @s3quence
2020/12/05 19:48:51
delegatorsteem
delegatees3quence
vesting shares9359.062008 VESTS
Transaction InfoBlock #49196227/Trx 19b1c3604fb9531110448e47834c49996e754768
View Raw JSON Data
{
  "trx_id": "19b1c3604fb9531110448e47834c49996e754768",
  "block": 49196227,
  "trx_in_block": 4,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-12-05T19:48:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "9359.062008 VESTS"
    }
  ]
}
steemdelegated 1.180 SP to @s3quence
2020/11/03 02:09:51
delegatorsteem
delegatees3quence
vesting shares1920.017158 VESTS
Transaction InfoBlock #48270194/Trx f6fc47e6be3867ab5ea742dc401a87bc7079c909
View Raw JSON Data
{
  "trx_id": "f6fc47e6be3867ab5ea742dc401a87bc7079c909",
  "block": 48270194,
  "trx_in_block": 0,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-11-03T02:09:51",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "1920.017158 VESTS"
    }
  ]
}
steemdelegated 5.879 SP to @s3quence
2020/05/09 10:49:42
delegatorsteem
delegatees3quence
vesting shares9561.867367 VESTS
Transaction InfoBlock #43222992/Trx b4ffcde59a32a354a207cc53370c64652964fd1a
View Raw JSON Data
{
  "trx_id": "b4ffcde59a32a354a207cc53370c64652964fd1a",
  "block": 43222992,
  "trx_in_block": 2,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-09T10:49:42",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "9561.867367 VESTS"
    }
  ]
}
steemdelegated 1.201 SP to @s3quence
2020/05/08 15:11:36
delegatorsteem
delegatees3quence
vesting shares1953.311140 VESTS
Transaction InfoBlock #43199991/Trx 37ab43d87b300edb750b501cbf552d27f7d28df5
View Raw JSON Data
{
  "trx_id": "37ab43d87b300edb750b501cbf552d27f7d28df5",
  "block": 43199991,
  "trx_in_block": 16,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-05-08T15:11:36",
  "op": [
    "delegate_vesting_shares",
    {
      "delegator": "steem",
      "delegatee": "s3quence",
      "vesting_shares": "1953.311140 VESTS"
    }
  ]
}
2020/03/12 16:54:42
parent authors3quence
parent permlinkeos-and-eosdac
authorsteemitboard
permlinksteemitboard-notify-s3quence-20200312t165442000z
title
bodyCongratulations @s3quence! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@s3quence/birthday2.png</td><td>Happy Steem Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@s3quence) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=s3quence)_</sub> **Do not miss the last post from @steemitboard:** <table><tr><td><a href="https://steemit.com/steemitboard/@steemitboard/downvote-challenge-add-up-to-3-funny-badges-to-your-board"><img src="https://steemitimages.com/64x128/https://steemitimages.com/0x0/![](https://cdn.steemitimages.com/DQmUuJkZdnSpHVWssxF82ntymqXg4Pvk6K6bYvckUYVRsnj/image.png)"></a></td><td><a href="https://steemit.com/steemitboard/@steemitboard/downvote-challenge-add-up-to-3-funny-badges-to-your-board">Downvote challenge - Add up to 3 funny badges to your board</a></td></tr></table> ###### [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!
json metadata{"image":["https://steemitboard.com/img/notify.png"]}
Transaction InfoBlock #41592222/Trx 585a04f01d29bc14bc7452db5d783b9424bb5ba9
View Raw JSON Data
{
  "trx_id": "585a04f01d29bc14bc7452db5d783b9424bb5ba9",
  "block": 41592222,
  "trx_in_block": 9,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2020-03-12T16:54:42",
  "op": [
    "comment",
    {
      "parent_author": "s3quence",
      "parent_permlink": "eos-and-eosdac",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-s3quence-20200312t165442000z",
      "title": "",
      "body": "Congratulations @s3quence! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@s3quence/birthday2.png</td><td>Happy Steem 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/@s3quence) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=s3quence)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/downvote-challenge-add-up-to-3-funny-badges-to-your-board\"><img src=\"https://steemitimages.com/64x128/https://steemitimages.com/0x0/![](https://cdn.steemitimages.com/DQmUuJkZdnSpHVWssxF82ntymqXg4Pvk6K6bYvckUYVRsnj/image.png)\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/downvote-challenge-add-up-to-3-funny-badges-to-your-board\">Downvote challenge - Add up to 3 funny badges to your board</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!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}"
    }
  ]
}
steemdelegated 5.968 SP to @s3quence
2019/08/26 22:50:24
delegatorsteem
delegatees3quence
vesting shares9707.529460 VESTS
Transaction InfoBlock #35902427/Trx 9335d3d6c2e40572e02d18a25b1159500610b452
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2019/07/16 10:17:51
voteraxiom-prime
authors3quence
permlinkeos-and-eosdac
weight3000 (30.00%)
Transaction InfoBlock #34709726/Trx 459f8b55e3ccfcf3797a84e58bc69c56697feac9
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s3quencepublished a new post: eos-and-eosdac
2019/07/16 10:17:00
parent author
parent permlinkeos
authors3quence
permlinkeos-and-eosdac
titleEOS and eosDAC
body@@ -6,17 +6,19 @@ ss than -1 +one year EO @@ -564,16 +564,18 @@ *%0A%0ALike +al most any @@ -636,29 +636,8 @@ ses -and tries to resolve cert @@ -831,18 +831,97 @@ al hours -. +or days and managed to collect amounts of currency that were unheard-of before.%0A EOS, bei @@ -1110,22 +1110,19 @@ killer%22 - and w +. W hile tha @@ -1690,35 +1690,9 @@ .%0A %0A -I hope you are aware that r +R ough
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Transaction InfoBlock #34709709/Trx 9dcfaa75cf7523a0ca52f727184d2b77c4169a62
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      "body": "@@ -6,17 +6,19 @@\n ss than \n-1\n+one\n  year EO\n@@ -564,16 +564,18 @@\n *%0A%0ALike \n+al\n most any\n@@ -636,29 +636,8 @@\n ses \n-and tries to resolve \n cert\n@@ -831,18 +831,97 @@\n al hours\n-.\n  \n+or days and managed to collect amounts of currency that were unheard-of before.%0A\n EOS, bei\n@@ -1110,22 +1110,19 @@\n  killer%22\n- and w\n+. W\n hile tha\n@@ -1690,35 +1690,9 @@\n .%0A %0A\n-I hope you are aware that r\n+R\n ough\n",
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s3quencepublished a new post: eos-and-eosdac
2019/03/25 15:49:24
parent author
parent permlinkeos
authors3quence
permlinkeos-and-eosdac
titleEOS and eosDAC
body@@ -1634,19 +1634,19 @@ %0AI hope -all +you are awa
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Transaction InfoBlock #31466562/Trx 1724dade4994f65c8b9d5f75ca7377ad06ac43d1
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s3quencepublished a new post: eos-and-eosdac
2019/03/25 15:44:33
parent author
parent permlinkeos
authors3quence
permlinkeos-and-eosdac
titleEOS and eosDAC
body@@ -288,13 +288,19 @@ is -crazy +exceptional eve @@ -305,20 +305,16 @@ ven for -the cryptocu @@ -386,11 +386,13 @@ t's -get +delve dee @@ -424,18 +424,19 @@ l about -it +EOS . %0A!%5B%5D(h @@ -558,24 +558,29 @@ der)*%0A%0ALike +most any project @@ -589,11 +589,10 @@ at r -uns +an an @@ -800,17 +800,17 @@ f EOS ha -d +s been go
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Transaction InfoBlock #31466465/Trx 3c1be8804f2039ea40c312d76908d8a4b5bce243
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2019/03/25 15:41:33
parent author
parent permlinkconsensus
authors3quence
permlinkblockchain-consensus-algorithms-for-dummies
titleBlockchain consensus algorithms for Dummies
body@@ -41,23 +41,16 @@ at were -simply unthinka @@ -73,23 +73,19 @@ lity - now, including +, which is, alm @@ -112,20 +112,18 @@ company -with +by a word @@ -6472,23 +6472,16 @@ s. Some -of the consensu
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Transaction InfoBlock #31466405/Trx dd7f440c11830f86ebb6eac1e1ede8731f7c68b8
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2019/03/12 20:51:36
parent authors3quence
parent permlinkeos-and-eosdac
authorsteemitboard
permlinksteemitboard-notify-s3quence-20190312t205135000z
title
bodyCongratulations @s3quence! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@s3quence/birthday1.png</td><td>Happy Birthday! - You are on the Steem blockchain for 1 year!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@s3quence) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=s3quence)_</sub> **Do not miss the last post from @steemitboard:** <table><tr><td><a href="https://steemit.com/drugwars/@steemitboard/drugwars-early-adopter"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmYGN7R653u4hDFyq1hM7iuhr2bdAP1v2ApACDNtecJAZ5/image.png"></a></td><td><a href="https://steemit.com/drugwars/@steemitboard/drugwars-early-adopter">Are you a DrugWars early adopter? Benvenuto in famiglia!</a></td></tr></table> ###### [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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Transaction InfoBlock #31098465/Trx 85811db21d04b77a034a7008a6389bf2e8a6e37b
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      "title": "",
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2018/10/30 15:28:03
parent authors3quence
parent permlinkre-hardinero007-re-hardinero007-re-andrewwu-cryptonex-cnx-sent-1000-tokens-to-my-ether-wallet-is-it-a-scam-20180327t205206639z
authorcrc8109
permlinkre-s3quence-re-hardinero007-re-hardinero007-re-andrewwu-cryptonex-cnx-sent-1000-tokens-to-my-ether-wallet-is-it-a-scam-20181030t152800497z
title
bodyThank you for the info! Do you know where we can follow to know when the next bounty is?
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Transaction InfoBlock #27264408/Trx 5250e8a8df9ec84eb552925d4539b8c64639d2a3
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      "title": "",
      "body": "Thank you for the info! Do you know where we can follow to know when the next bounty is?",
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2018/10/30 15:27:30
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steemdelegated 6.090 SP to @s3quence
2018/09/13 17:14:39
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steemdelegated 18.579 SP to @s3quence
2018/07/18 00:24:36
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2018/06/15 02:49:00
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2018/06/15 02:48:57
parent authors3quence
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permlinkre-s3quence-eos-and-eosdac-20180615t024856909z
title
body**Coins mentioned in post:** Coin | | Price (USD) | 📈 24h | 📉 7d - | - | - | - | - **BTC** | Bitcoin | 6610.300$ | _2.54%_ | _-13.71%_ **EOS** | EOS | 10.997$ | _8.58%_ | _-22.6%_ **EOSDAC** | eosDAC | 0.146$ | _23.68%_ | _-4.93%_ **ETH** | Ethereum | 513.796$ | _6.3%_ | _-15.03%_
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s3quenceupvoted (100.00%) @s3quence / eos-and-eosdac
2018/06/14 17:02:57
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2018/06/14 17:02:36
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councilupvoted (10.00%) @s3quence / eos-and-eosdac
2018/06/13 20:11:45
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s3quencepublished a new post: eos-and-eosdac
2018/06/13 19:40:42
parent author
parent permlinkeos
authors3quence
permlinkeos-and-eosdac
titleEOS and eosDAC
bodyIn less than 1 year EOS has made it to [the top 5 of coinmarketcap](https://coinmarketcap.com/currencies/eos/), and, what's more important, remained there. Its price has [skyrocketed 58% just in 2 days](https://medium.com/@huobipro/the-meteoric-rise-of-eos-explained-7516e872f6fe), which is crazy even for the cryptocurrency realm. These facts alone speak high of the project, but let's get deeper into what's so special about it. ![](https://cdn.steemitimages.com/DQmPx7RyNqFABLvEWCRposae9VWHXXQAc7gPWtFz7MfEo4C/image.png) > *(Artwork by @rubenalexander)* Like any project that runs an Initial Coin Offering, EOS addresses and tries to resolve certain problems, namely: * scalability * user fees * DAPP deployment speed and creation ease Unlike any project that ran an ICO, the one of EOS had been going for a year instead of several hours. EOS, being a DAPP platform, an operational system for creating DAPPs, to be more precise, can't escape the fate of being compared to the ETH, and some went as far as to call it the "Ethereum killer" and while that may be a bit overboard, at least for the time being, and a lot would not agree with it, none can deny that the project has vast potential, great idea, and an experienced [block.one team](https://block.one/), capable of bringing it to reality, including Dan Larimer, creator of Steemit and Bitshares, but that's not the point here, you can watch [this video](https://www.youtube.com/watch?v=sG9jZJ8cdEs) for more detailed information on the EOS, or, better yet, read [their Whitepaper](https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md). I hope all are aware that roughly 50%, according to [this report](https://www.trustnodes.com/2018/06/03/just-10-addresses-hold-nearly-50-eos-tokens), of all EOS tokens are held by only 10 addresses, 85% - by 1000 addresses. EOS implements the [Delegated Proof-of-Stake algorithm](https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897d) to achieve consensus, in brief, you are letting the person you vote for use your voting power to produce blocks, forfeiting some decentralization in favor of faster transactions and lower fees. EOS intends to have a group of 21 *"active"* block producers, which are to be chosen in a democratic election process where each EOS token can be used to vote for up to 30 delegates. See [this official post](https://medium.com/coinmonks/eos-block-producer-voting-guide-fba3a5a6efe0) for further information about voting. Good thing is that virtually anyone who holds some EOS tokens can be elected as a block producer, though that pretty much equals to "any citizen can become a president", but what's really important, is that only 1 out of 21 validators is chosen by the number of votes and that the quorum for the elections to be valid is only 15% (150 MM tokens.) This means that 10 addresses held by <=10 individuals can largely influence or even determine the outcome of the voting and that 1000 addresses, held by an even lesser than 1000 amount of entities determine the entire state of the blockchain. Not much for the decentralization, is it? Even assuming that the chosen nodes will act fair, and won't be used for any kind of attacks, it's still possible to influence the voting process in order to choose the favored nodes to act as validators purely for the money incentive, and it's quite big. ![Screenshot_297.png](https://cdn.steemitimages.com/DQmW7mpPTtGRtEpKXfLpigAs9f5QhyAfKkkTS1n3T24U9Jh/Screenshot_297.png) As Dan Larimer confirmed these addresses to belong to exchanges, FUD has decreased substantially, but if the addresses from 10 to 1000 (holders of 35% of the tokens) come to a certain agreement, it can *theoretically* influence the situation in much the same way. And even though the problem is not nearly as dire or as important as some media picture it to be, it still exists and eosDAC aims to be a part of the solution, at least I hope so. [eosDAC](https://steemit.com/eos/@eosdac/introducing-eosdac-the-community-owned-eos-block-producer) has been air-dropped from April 15 to May 15 to the holders of the EOS who possessed 100+ EOS tokens when the blockchain snapshot was done at April 15 at 1:1 ratio, essentially creating money out of thin air, but that's what cryptocurrencies do, right? Some call it vote manipulation, or even bribery, with some [nasty threads](https://www.reddit.com/r/eos/comments/8npp8c/eosdac_really/) popping out on Reddit, when, in fact, the truth is somewhere in-between and I prefer to think of it as of a clever trick. In eosDAC **"DAC"** stands for decentralized autonomous community. It's also worth noting that only 20 seconds of their 1:20 introduction video are actually dedicated to explaining the concept rather than the whole tech. revolution. The name may be somewhat confusing, for it may imply for some that it's EOS's main DAC when, in fact, it's just another BP delegate, though maybe it should be this way in order to bring attention. As everything in crypto, sounds quite flashy, but essentially it means that the network is governed and controlled by its token holders and the board members vote to run its operations. 75% of the eosDAC tokens were airdropped to the EOS token holders, with the remaining 25% going to the team, advisors and community supporters. Aside from the DAC part, eosDAC will also be providing DAC toolkits for the EOS community so that anyone could build their own DAC, as well as possibly creating some DAPPs. ![](https://cdn.steemitimages.com/DQmcnQg8snutP2LYZkR3Yc2YpWD27yDAqv2Jdfw7GB3Hf7Q/image.png) > Pic I've proudly ~~stolen~~ taken from [hacked.com](https://hacked.com/ico-analysis-eosdac/) There's not much to say about the token itself aside from 2 things: - It's creating the necessary funding for the development of the project; its value will increase should it prove to be a success and is likely to correspond to the development of EOS (grow or decline alongside it) - Should the community not like what the eosDAC is creating, or if it won't be chosen to be a BP, it's value will rapidly become zero or very close to zero. The voting process is only about [60% finished](https://eosauthority.com/voting) as of the present moment, thus it's yet unclear whether the eosDAC will be chosen as one of the BPs, I personally believe it to be so. In fact, with how much name recognition their stunt with tokens has gotten them, I'm almost sure of it and even kind of wonder why didn't a single other BP delegate do this. I'm also sure others will try so in the future, but the effect will be similar to the forks of the Bitcoin, with only the first one being somewhat successful.
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      "title": "EOS and eosDAC",
      "body": "In less than 1 year EOS has made it to [the top 5 of coinmarketcap](https://coinmarketcap.com/currencies/eos/), and, what's more important, remained there. Its price has [skyrocketed 58% just in 2 days](https://medium.com/@huobipro/the-meteoric-rise-of-eos-explained-7516e872f6fe), which is crazy even for the cryptocurrency realm. These facts alone speak high of the project, but let's get deeper into what's so special about it. \n![](https://cdn.steemitimages.com/DQmPx7RyNqFABLvEWCRposae9VWHXXQAc7gPWtFz7MfEo4C/image.png)\n> *(Artwork by @rubenalexander)*\n\nLike any project that runs an Initial Coin Offering, EOS addresses and tries to resolve certain problems, namely:\n* scalability \n* user fees \n* DAPP deployment speed and creation ease \n\nUnlike any project that ran an ICO, the one of EOS had been going for a year instead of several hours. EOS, being a DAPP platform, an operational system for creating DAPPs, to be more precise, can't escape the fate of being compared to the ETH, and some went as far as to call it the \"Ethereum killer\" and while that may be a bit overboard, at least for the time being, and a lot would not agree with it, none can deny that the project has vast potential, great idea, and an experienced [block.one team](https://block.one/), capable of bringing it to reality, including Dan Larimer, creator of Steemit and Bitshares, but that's not the point here, you can watch [this video](https://www.youtube.com/watch?v=sG9jZJ8cdEs) for more detailed information on the EOS, or, better yet, read [their Whitepaper](https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md).\n \nI hope all are aware that roughly 50%, according to [this report](https://www.trustnodes.com/2018/06/03/just-10-addresses-hold-nearly-50-eos-tokens), of all EOS tokens are held by only 10 addresses, 85% - by 1000 addresses. EOS implements the [Delegated Proof-of-Stake algorithm](https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897d) to achieve consensus, in brief, you are letting the person you vote for use your voting power to produce blocks, forfeiting some decentralization in favor of faster transactions and lower fees. EOS intends to have a group of 21 *\"active\"* block producers, which are to be chosen in a democratic election process where each EOS token can be used to vote for up to 30 delegates. See [this official post](https://medium.com/coinmonks/eos-block-producer-voting-guide-fba3a5a6efe0) for further information about voting. \nGood thing is that virtually anyone who holds some EOS tokens can be elected as a block producer, though that pretty much equals to \"any citizen can become a president\", but what's really important, is that only 1 out of 21 validators is chosen by the number of votes and that the quorum for the elections to be valid is only 15% (150 MM tokens.) This means that 10 addresses held by <=10 individuals can largely influence or even determine the outcome of the voting and that 1000 addresses, held by an even lesser than 1000 amount of entities determine the entire state of the blockchain. Not much for the decentralization, is it? Even assuming that the chosen nodes will act fair, and won't be used for any kind of attacks, it's still possible to influence the voting process in order to choose the favored nodes to act as validators purely for the money incentive, and it's quite big.\n![Screenshot_297.png](https://cdn.steemitimages.com/DQmW7mpPTtGRtEpKXfLpigAs9f5QhyAfKkkTS1n3T24U9Jh/Screenshot_297.png)\n As Dan Larimer confirmed these addresses to belong to exchanges, FUD has decreased substantially, but if the addresses from 10 to 1000 (holders of 35% of the tokens) come to a certain agreement, it can *theoretically* influence the situation in much the same way. And even though the problem is not nearly as dire or as important as some media picture it to be, it still exists and eosDAC aims to be a part of the solution, at least I hope so.\n\n[eosDAC](https://steemit.com/eos/@eosdac/introducing-eosdac-the-community-owned-eos-block-producer) has been air-dropped from April 15 to May 15 to the holders of the EOS who possessed 100+ EOS tokens when the blockchain snapshot was done at April 15 at 1:1 ratio, essentially creating money out of thin air, but that's what cryptocurrencies do, right? Some call it vote manipulation, or even bribery, with some [nasty threads](https://www.reddit.com/r/eos/comments/8npp8c/eosdac_really/) popping out on Reddit, when, in fact, the truth is somewhere in-between and I prefer to think of it as of a clever trick. In eosDAC **\"DAC\"** stands for decentralized autonomous community. It's also worth noting that only 20 seconds of their 1:20 introduction video are actually dedicated to explaining the concept rather than the whole tech. revolution.\n The name may be somewhat confusing, for it may imply for some that it's EOS's main DAC when, in fact, it's just another BP delegate, though maybe it should be this way in order to bring attention. As everything in crypto, sounds quite flashy, but essentially it means that the network is governed and controlled by its token holders and the board members vote to run its operations. 75% of the eosDAC tokens were airdropped to the EOS token holders, with the remaining 25% going to the team, advisors and community supporters.\nAside from the DAC part, eosDAC will also be providing DAC toolkits for the EOS community so that anyone could build their own DAC, as well as possibly creating some DAPPs.\n![](https://cdn.steemitimages.com/DQmcnQg8snutP2LYZkR3Yc2YpWD27yDAqv2Jdfw7GB3Hf7Q/image.png)\n> Pic I've proudly ~~stolen~~ taken from [hacked.com](https://hacked.com/ico-analysis-eosdac/)\n\nThere's not much to say about the token itself aside from 2 things:\n- It's creating the necessary funding for the development of the project; its value will increase should it prove to be a success and is likely to correspond to the development of EOS (grow or decline alongside it)\n - Should the community not like what the eosDAC is creating, or if it won't be chosen to be a BP, it's value will rapidly become zero or very close to zero.\n\nThe voting process is only about [60% finished](https://eosauthority.com/voting) as of the present moment, thus it's yet unclear whether the eosDAC will be chosen as one of the BPs, I personally believe it to be so. In fact, with how much name recognition their stunt with tokens has gotten them, I'm almost sure of it and even kind of wonder why didn't a single other BP delegate do this. I'm also sure others will try so in the future, but the effect will be similar to the forks of the Bitcoin, with only the first one being somewhat successful.",
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2018/06/12 12:13:27
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permlinkarchipelago-shipbuilding
weight10000 (100.00%)
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2018/06/11 13:41:15
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2018/06/11 13:40:18
parent author
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titleBlockchain consensus algorithms for Dummies
bodyDistributed computing has made things that were simply unthinkable before a reality now, including almost everything we accompany with a word *"decentralized"* now. While the possible implementations of this technology are virtually limitless, it still has some flaws, limitations and specific traits. Some of them, like [SPOF](https://searchdatacenter.techtarget.com/definition/Single-point-of-failure-SPOF), are easily addressable, others - not. One of the hardest yet most important problems developers face during the process of designing the distributed computing system is called a consensus problem: how to achieve a reliability within a network of multiple unreliable nodes? The answer's neither easy nor unambiguous, hence consensus algorithms are created. ![shutterstock_132546254.jpg](https:/cdn.steemitimages.com/DQmeBfhJAQL2Lz3kqsoEa1sqwzicyMAUXotia67d6hfr2Pw/shutterstock_132546254.jpg) In the world of cryptocurrencies, consensus algorithms exist to prevent double spending issue by guaranteeing that agreement on a particular data value is achieved among the mutually untrusted, uncoordinated parties. It also ensures that individuals or groups with significant computing power cannot derail the chain thus protecting it from constant forking. Despite being of such importance to the success of any cryptocurrency, consensus algorithms are often overlooked nonetheless. So let's get a bit more into how the consensus algorithms function and why are there so many of them. There's no such thing as "the best consensus algorithm", at least not without a particular context and even then it's impossible to say so with a certainty. Once again, there's no ideal consensus algorithm, but each one possesses some strengths and, consequently, weaknesses. The first ever consensus algorithm to be used in the blockchain has been introduced to the world by Satoshi Nakamoto. It's called **Proof-of-Work**, or simply mining, being the first one to come it's also the most wide-spread, at least for the time being. It's implemented in the most of existing cryptocurrencies, including Bitcoin, Ethereum (for now, that is), Litecoin, Dogecoin e.t.c. It's this algorithm we have to thank for a massive rise in the power consumption throughout the world. Hard, useless problems are solved by miners in order to create blocks. In POW the longest blockchain wins and the others are discarded, so, assuming that the majority of miners works on the same chain, it'll be growing faster and thus be longer and most trustworthy. It's time-proven to be functional, but it's time we begin considering it a legacy. It's safe, as long as at least 51% of work done by miners is honest, but even this doesn't give us the right to continue implementing it in new projects. Not when the ecological impact is that great and not when there are so many alternatives. The second most widespread consensus algorithm in the blockchain is called **Proof-Of-Stake**. Decred and Peercoin are using it and so will Ethereum soon enough. In POS blocks aren't created by miners but voted for by minters "betting" their stakes. Should the fork happen miners spend their tokens to vote on the correct one, and those who voted on the wrong fork (least supported one) would "forfeit their stake" in the correct fork. The most common argument against PoS is so-called Nothing at stake problem. https://www.youtube.com/watch?v=pzIl3vmEytY As supporting a fork costs almost no computational power, validators could vote for both sides of each fork that happens, thus eliminating the risk for themselves. To say a system possesses **Byzantine Fault Tolerance** means a system can function properly in the event of a failure caused by the classic problem in the distributed computing often represented by Byzantine generals who had to decide in a unison whether or not to attack and would face the dire consequences otherwise. The BFT is very technical and quite complicated; solid explanation could be found [here]( https://medium.com/loom-network/understanding-blockchain-fundamentals-part-1-byzantine-fault-tolerance-245f46fe8419), but, in general, BFT consensus algorithms allow validators (generals) to manage the state of the chain and exchange messages with one another to coordinate their work and to ensure honesty. Several consensus protocols based on BFT exist, main ones being **Practical Byzantine Fault Tolerance (PBFT)**, and Federated Byzantine Agreement (FBA)**. The first one has less than 20 pre-selected generals and runs incredibly efficient. The transaction throughput is high, but this model is centralized. It's currently used by hyperledger. FBA is used by Stellar and Ripple. The main idea of it is that every Byzantine general is responsible for their own chain and sort messages as they come to define truth. In Ripple the generals are pre-selected and in Stellar anyone could be a validator, so you can choose whom to trust. BFT has small transaction fees and is easily scalable but introduces a bit of centralization. EOS and Steemit implement DPoS, which, despite the name, greatly differs from DOS. In it, token holders vote for the delegates, rather than the block itself, to do the validation on their behalf. This makes **Delegated Proof-of-Stake** centralized to a large degree, though it remains decentralized in a certain way, as all in the network participate in the selection of which nodes validate transactions. As all the decisions are carried out by a small group, it greatly speeds up transactions, decreases transaction costs and block time (Eos aims for sub 1 sec; compare that to 10 mins in Bitcoin!) and allows for easy scaling. The last widely-spread consensus algorithm is DAGs - **Directed Acyclic Graphs**. DAGs don't use the blockchain data structure and handles transactions mostly unsynchronous. It allows for a theoretically countably infinite amount of transactions per second. Nonetheless, DAGs properties are highly dependant on the specific implementation. Tangle (used by Iota), Hashgraph, and Block-Lattice (used by Nano) are the three implementations that have received the most attention recently, though not all of it has been positive For the consensus algorithm to be fitted for use in the public network it must be resistant to attacks, even though many consensus algorithms possess higher raw power than, say, PoW. This is a developing field, and more advanced and effective technologies are likely to emerge in the upcoming years. Some of the consensus algorithms are barely tested while other are only theories that may never have an actual implementation. Some less wide-spread algorithms include Proof-of-Authority, Proof-of-Weight (Proof-of-Spacetime, Proof-of-Reputation, e.t.c. (Proof-of-Anything, really)), Proof-of-Activity(PoW+PoS), Proof-of-Burn, Proof-of-Capacity(Proof-of-Storage; Proof-of-Space), and [Intel's Proof -of-Elapsed time](https://www.coindesk.com/intel-winning-blockchain-critics-reimagining-bitcoins-dna/) Currently, we are making tradeoffs between scalability and degree to which the systems are centralized. With the introduction of second-layer networks the scalability portion of the equation may come off to the second plan, so it'll certainly be interesting to observe the changes that will come to this field and what technologies will emerge in the coming years.
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      "body": "Distributed computing has made things that were simply unthinkable before a reality now, including almost everything we accompany with a word *\"decentralized\"* now. While the possible implementations of this technology are virtually limitless, it still has some flaws, limitations and specific traits. \nSome of them, like [SPOF](https://searchdatacenter.techtarget.com/definition/Single-point-of-failure-SPOF), are easily addressable, others - not. One of the hardest yet most important problems developers face during the process of designing the distributed computing system is called a consensus problem: how to achieve a reliability within a network of multiple unreliable nodes? The answer's neither easy nor unambiguous, hence consensus algorithms are created.\n\n![shutterstock_132546254.jpg](https:/cdn.steemitimages.com/DQmeBfhJAQL2Lz3kqsoEa1sqwzicyMAUXotia67d6hfr2Pw/shutterstock_132546254.jpg)\n\nIn the world of cryptocurrencies, consensus algorithms exist to prevent double spending issue by guaranteeing that agreement on a particular data value is achieved among the mutually untrusted, uncoordinated parties. It also ensures that individuals or groups with significant computing power cannot derail the chain thus protecting it from constant forking. Despite being of such importance to the success of any cryptocurrency, consensus algorithms are often overlooked nonetheless.\n So let's get a bit more into how the consensus algorithms function and why are there so many of them.\n\nThere's no such thing as \"the best consensus algorithm\", at least not without a particular context and even then it's impossible to say so with a certainty. Once again, there's no ideal consensus algorithm, but each one possesses some strengths and, consequently, weaknesses. \n\nThe first ever consensus algorithm to be used in the blockchain has been introduced to the world by Satoshi Nakamoto. It's called **Proof-of-Work**, or simply mining, being the first one to come it's also the most wide-spread, at least for the time being. It's implemented in the most of existing cryptocurrencies, including Bitcoin, Ethereum (for now, that is), Litecoin, Dogecoin e.t.c. It's this algorithm we have to thank for a massive rise in the power consumption throughout the world. Hard, useless problems are solved by miners in order to create blocks. In POW the longest blockchain wins and the others are discarded, so, assuming that the majority of miners works on the same chain, it'll be growing faster and thus be longer and most trustworthy.  It's time-proven to be functional, but it's time we begin considering it a legacy. It's safe, as long as at least 51% of work done by miners is honest, but even this doesn't give us the right to continue implementing it in new projects. Not when the ecological impact is that great and not when there are so many alternatives.\n\nThe second most widespread consensus algorithm in the blockchain is called **Proof-Of-Stake**. Decred and Peercoin are using it and so will Ethereum soon enough. In POS blocks aren't created by miners but voted for by minters \"betting\" their stakes. Should the fork happen miners spend their tokens to vote on the correct one, and those who voted on the wrong fork (least supported one) would \"forfeit their stake\" in the correct fork. The most common argument against PoS is so-called Nothing at stake problem. https://www.youtube.com/watch?v=pzIl3vmEytY As supporting a fork costs almost no computational power, validators could vote for both sides of each fork that happens, thus eliminating the risk for themselves. \n \nTo say a system possesses **Byzantine Fault Tolerance** means a system can function properly in the event of a failure caused by the classic problem in the distributed computing often represented by Byzantine generals who had to decide in a unison whether or not to attack and would face the dire consequences otherwise. The BFT is very technical and quite complicated; solid explanation could be found [here]( https://medium.com/loom-network/understanding-blockchain-fundamentals-part-1-byzantine-fault-tolerance-245f46fe8419), but, in general, BFT consensus algorithms allow validators (generals) to manage the state of the chain and exchange messages with one another to coordinate their work and to ensure honesty. \nSeveral consensus protocols based on BFT exist, main ones being **Practical Byzantine Fault Tolerance (PBFT)**, and Federated Byzantine Agreement (FBA)**. \nThe first one has less than 20 pre-selected generals and runs incredibly efficient. The transaction throughput is high, but this model is centralized. It's currently used by hyperledger. \n\nFBA is used by Stellar and Ripple. The main idea of it is that every Byzantine general is responsible for their own chain and sort messages as they come to define truth. In Ripple the generals are pre-selected and in Stellar anyone could be a validator, so you can choose whom to trust.\n\nBFT has small transaction fees and is easily scalable but introduces a bit of centralization.\n\nEOS and Steemit implement DPoS, which, despite the name, greatly differs from DOS. In it, token holders vote for the delegates, rather than the block itself, to do the validation on their behalf. This makes **Delegated Proof-of-Stake** centralized to a large degree, though it remains decentralized in a certain way, as all in the network participate in the selection of which nodes validate transactions. As all the decisions are carried out by a small group, it greatly speeds up transactions, decreases transaction costs and block time (Eos aims for sub 1 sec; compare that to 10 mins in Bitcoin!) and allows for easy scaling. \n\nThe last widely-spread consensus algorithm is DAGs - **Directed Acyclic Graphs**. DAGs don't use the blockchain data structure and handles transactions mostly unsynchronous. It allows for a theoretically countably infinite amount of transactions per second. Nonetheless, DAGs properties are highly dependant on the specific implementation. Tangle (used by Iota), Hashgraph, and Block-Lattice (used by Nano) are the three implementations that have received the most attention recently, though not all of it has been positive\n\nFor the consensus algorithm to be fitted for use in the public network it must be resistant to attacks, even though many consensus algorithms possess higher raw power than, say, PoW. This is a developing field, and more advanced and effective technologies are likely to emerge in the upcoming years. Some of the consensus algorithms are barely tested while other are only theories that may never have an actual implementation. Some less wide-spread algorithms include Proof-of-Authority, Proof-of-Weight (Proof-of-Spacetime, Proof-of-Reputation, e.t.c. (Proof-of-Anything, really)), Proof-of-Activity(PoW+PoS), Proof-of-Burn, Proof-of-Capacity(Proof-of-Storage; Proof-of-Space), and [Intel's Proof -of-Elapsed time](https://www.coindesk.com/intel-winning-blockchain-critics-reimagining-bitcoins-dna/)\n\nCurrently, we are making tradeoffs between scalability and degree to which the systems are centralized. With the introduction of second-layer networks the scalability portion of the equation may come off to the second plan, so it'll certainly be interesting to observe the changes that will come to this field and what technologies will emerge in the coming years.",
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2018/06/11 13:39:21
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2018/06/11 13:38:54
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parent permlinkconsensus
authors3quence
permlinkblockchain-consensus-algorithms-for-dummies
titleBlockchain consensus algorithms for Dummies
bodyDistributed computing has made things that were simply unthinkable before a reality now, including almost everything we accompany with a word *"decentralized"* now. While the possible implementations of this technology are virtually limitless, it still has some flaws, limitations and specific traits. Some of them, like [SPOF](https://searchdatacenter.techtarget.com/definition/Single-point-of-failure-SPOF), are easily addressable, others - not. One of the hardest yet most important problems developers face during the process of designing the distributed computing system is called a consensus problem: how to achieve a reliability within a network of multiple unreliable nodes? The answer's neither easy nor unambiguous, hence consensus algorithms are created. ![shutterstock_132546254.jpg](https:/cdn.steemitimages.com/DQmeBfhJAQL2Lz3kqsoEa1sqwzicyMAUXotia67d6hfr2Pw/shutterstock_132546254.jpg) In the world of cryptocurrencies, consensus algorithms exist to prevent double spending issue by guaranteeing that agreement on a particular data value is achieved among the mutually untrusted, uncoordinated parties. It also ensures that individuals or groups with significant computing power cannot derail the chain thus protecting it from constant forking. Despite being of such importance to the success of any cryptocurrency, consensus algorithms are often overlooked nonetheless. So let's get a bit more into how the consensus algorithms function and why are there so many of them. There's no such thing as "the best consensus algorithm", at least not without a particular context and even then it's impossible to say so with a certainty. Once again, there's no ideal consensus algorithm, but each one possesses some strengths and, consequently, weaknesses. The first ever consensus algorithm to be used in the blockchain has been introduced to the world by Satoshi Nakamoto. It's called **Proof-of-Work**, or simply mining, being the first one to come it's also the most wide-spread, at least for the time being. It's implemented in the most of existing cryptocurrencies, including Bitcoin, Ethereum (for now, that is), Litecoin, Dogecoin e.t.c. It's this algorithm we have to thank for a massive rise in the power consumption throughout the world. Hard, useless problems are solved by miners in order to create blocks. In POW the longest blockchain wins and the others are discarded, so, assuming that the majority of miners works on the same chain, it'll be growing faster and thus be longer and most trustworthy. It's time-proven to be functional, but it's time we begin considering it a legacy. It's safe, as long as at least 51% of work done by miners is honest, but even this doesn't give us the right to continue implementing it in new projects. Not when the ecological impact is that great and not when there are so many alternatives. The second most widespread consensus algorithm in the blockchain is called **Proof-Of-Stake**. Decred and Peercoin are using it and so will Ethereum soon enough. In POS blocks aren't created by miners but voted for by minters "betting" their stakes. Should the fork happen miners spend their tokens to vote on the correct one, and those who voted on the wrong fork (least supported one) would "forfeit their stake" in the correct fork. The most common argument against PoS is so-called Nothing at stake problem. https://www.youtube.com/watch?v=pzIl3vmEytY As supporting a fork costs almost no computational power, validators could vote for both sides of each fork that happens, thus eliminating the risk for themselves. To say a system possesses **Byzantine Fault Tolerance** means a system can function properly in the event of a failure caused by the classic problem in the distributed computing often represented by Byzantine generals who had to decide in a unison whether or not to attack and would face the dire consequences otherwise. The BFT is very technical and quite complicated; solid explanation could be found [here]( https://medium.com/loom-network/understanding-blockchain-fundamentals-part-1-byzantine-fault-tolerance-245f46fe8419), but, in general, BFT consensus algorithms allow validators (generals) to manage the state of the chain and exchange messages with one another to coordinate their work and to ensure honesty. Several consensus protocols based on BFT exist, main ones being **Practical Byzantine Fault Tolerance (PBFT)**, and Federated Byzantine Agreement (FBA)**. The first one has less than 20 pre-selected generals and runs incredibly efficient. The transaction throughput is high, but this model is centralized. It's currently used by hyperledger. FBA is used by Stellar and Ripple. The main idea of it is that every Byzantine general is responsible for their own chain and sort messages as they come to define truth. In Ripple the generals are pre-selected and in Stellar anyone could be a validator, so you can choose whom to trust. BFT has small transaction fees and is easily scalable but introduces a bit of centralization. EOS and Steemit implement DPoS, which, despite the name, greatly differs from DOS. In it, token holders vote for the delegates, rather than the block itself, to do the validation on their behalf. This makes **Delegated Proof-of-Stake** centralized to a large degree, though it remains decentralized in a certain way, as all in the network participate in the selection of which nodes validate transactions. As all the decisions are carried out by a small group, it greatly speeds up transactions, decreases transaction costs and block time (Eos aims for sub 1 sec; compare that to 10 mins in Bitcoin!) and allows for easy scaling. The last widely-spread consensus algorithm is DAGs - **Directed Acyclic Graphs**. DAGs don't use the blockchain data structure and handles transactions mostly unsynchronous. It allows for a theoretically countably infinite amount of transactions per second. Nonetheless, DAGs properties are highly dependant on the specific implementation. Tangle (used by Iota), Hashgraph, and Block-Lattice (used by Nano) are the three implementations that have received the most attention recently, though not all of it has been positive For the consensus algorithm to be fitted for use in the public network it must be resistant to attacks, even though many consensus algorithms possess higher raw power than, say, PoW. This is a developing field, and more advanced and effective technologies are likely to emerge in the upcoming years. Some of the consensus algorithms are barely tested while other are only theories that may never have an actual implementation. Some less wide-spread algorithms include Proof-of-Authority, Proof-of-Weight (Proof-of-Spacetime, Proof-of-Reputation, e.t.c. (Proof-of-Anything, really)), Proof-of-Activity(PoW+PoS), Proof-of-Burn, Proof-of-Capacity(Proof-of-Storage; Proof-of-Space), and [Intel's Proof -of-Elapsed time](https://www.coindesk.com/intel-winning-blockchain-critics-reimagining-bitcoins-dna/) Currently, we are making tradeoffs between scalability and degree to which the systems are centralized. With the introduction of second-layer networks the scalability portion of the equation may come off to the second plan, so it'll certainly be interesting to observe the changes that will come to this field and what technologies will emerge in the coming years.
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      "body": "Distributed computing has made things that were simply unthinkable before a reality now, including almost everything we accompany with a word *\"decentralized\"* now. While the possible implementations of this technology are virtually limitless, it still has some flaws, limitations and specific traits. \nSome of them, like [SPOF](https://searchdatacenter.techtarget.com/definition/Single-point-of-failure-SPOF), are easily addressable, others - not. One of the hardest yet most important problems developers face during the process of designing the distributed computing system is called a consensus problem: how to achieve a reliability within a network of multiple unreliable nodes? The answer's neither easy nor unambiguous, hence consensus algorithms are created.\n\n![shutterstock_132546254.jpg](https:/cdn.steemitimages.com/DQmeBfhJAQL2Lz3kqsoEa1sqwzicyMAUXotia67d6hfr2Pw/shutterstock_132546254.jpg)\n\nIn the world of cryptocurrencies, consensus algorithms exist to prevent double spending issue by guaranteeing that agreement on a particular data value is achieved among the mutually untrusted, uncoordinated parties. It also ensures that individuals or groups with significant computing power cannot derail the chain thus protecting it from constant forking. Despite being of such importance to the success of any cryptocurrency, consensus algorithms are often overlooked nonetheless.\n So let's get a bit more into how the consensus algorithms function and why are there so many of them.\n\nThere's no such thing as \"the best consensus algorithm\", at least not without a particular context and even then it's impossible to say so with a certainty. Once again, there's no ideal consensus algorithm, but each one possesses some strengths and, consequently, weaknesses. \n\nThe first ever consensus algorithm to be used in the blockchain has been introduced to the world by Satoshi Nakamoto. It's called **Proof-of-Work**, or simply mining, being the first one to come it's also the most wide-spread, at least for the time being. It's implemented in the most of existing cryptocurrencies, including Bitcoin, Ethereum (for now, that is), Litecoin, Dogecoin e.t.c. It's this algorithm we have to thank for a massive rise in the power consumption throughout the world. Hard, useless problems are solved by miners in order to create blocks. In POW the longest blockchain wins and the others are discarded, so, assuming that the majority of miners works on the same chain, it'll be growing faster and thus be longer and most trustworthy.  It's time-proven to be functional, but it's time we begin considering it a legacy. It's safe, as long as at least 51% of work done by miners is honest, but even this doesn't give us the right to continue implementing it in new projects. Not when the ecological impact is that great and not when there are so many alternatives.\n\nThe second most widespread consensus algorithm in the blockchain is called **Proof-Of-Stake**. Decred and Peercoin are using it and so will Ethereum soon enough. In POS blocks aren't created by miners but voted for by minters \"betting\" their stakes. Should the fork happen miners spend their tokens to vote on the correct one, and those who voted on the wrong fork (least supported one) would \"forfeit their stake\" in the correct fork. The most common argument against PoS is so-called Nothing at stake problem. https://www.youtube.com/watch?v=pzIl3vmEytY As supporting a fork costs almost no computational power, validators could vote for both sides of each fork that happens, thus eliminating the risk for themselves. \n \nTo say a system possesses **Byzantine Fault Tolerance** means a system can function properly in the event of a failure caused by the classic problem in the distributed computing often represented by Byzantine generals who had to decide in a unison whether or not to attack and would face the dire consequences otherwise. The BFT is very technical and quite complicated; solid explanation could be found [here]( https://medium.com/loom-network/understanding-blockchain-fundamentals-part-1-byzantine-fault-tolerance-245f46fe8419), but, in general, BFT consensus algorithms allow validators (generals) to manage the state of the chain and exchange messages with one another to coordinate their work and to ensure honesty. \nSeveral consensus protocols based on BFT exist, main ones being **Practical Byzantine Fault Tolerance (PBFT)**, and Federated Byzantine Agreement (FBA)**. \nThe first one has less than 20 pre-selected generals and runs incredibly efficient. The transaction throughput is high, but this model is centralized. It's currently used by hyperledger. \n\nFBA is used by Stellar and Ripple. The main idea of it is that every Byzantine general is responsible for their own chain and sort messages as they come to define truth. In Ripple the generals are pre-selected and in Stellar anyone could be a validator, so you can choose whom to trust.\n\nBFT has small transaction fees and is easily scalable but introduces a bit of centralization.\n\nEOS and Steemit implement DPoS, which, despite the name, greatly differs from DOS. In it, token holders vote for the delegates, rather than the block itself, to do the validation on their behalf. This makes **Delegated Proof-of-Stake** centralized to a large degree, though it remains decentralized in a certain way, as all in the network participate in the selection of which nodes validate transactions. As all the decisions are carried out by a small group, it greatly speeds up transactions, decreases transaction costs and block time (Eos aims for sub 1 sec; compare that to 10 mins in Bitcoin!) and allows for easy scaling. \n\nThe last widely-spread consensus algorithm is DAGs - **Directed Acyclic Graphs**. DAGs don't use the blockchain data structure and handles transactions mostly unsynchronous. It allows for a theoretically countably infinite amount of transactions per second. Nonetheless, DAGs properties are highly dependant on the specific implementation. Tangle (used by Iota), Hashgraph, and Block-Lattice (used by Nano) are the three implementations that have received the most attention recently, though not all of it has been positive\n\nFor the consensus algorithm to be fitted for use in the public network it must be resistant to attacks, even though many consensus algorithms possess higher raw power than, say, PoW. This is a developing field, and more advanced and effective technologies are likely to emerge in the upcoming years. Some of the consensus algorithms are barely tested while other are only theories that may never have an actual implementation. Some less wide-spread algorithms include Proof-of-Authority, Proof-of-Weight (Proof-of-Spacetime, Proof-of-Reputation, e.t.c. (Proof-of-Anything, really)), Proof-of-Activity(PoW+PoS), Proof-of-Burn, Proof-of-Capacity(Proof-of-Storage; Proof-of-Space), and [Intel's Proof -of-Elapsed time](https://www.coindesk.com/intel-winning-blockchain-critics-reimagining-bitcoins-dna/)\n\nCurrently, we are making tradeoffs between scalability and degree to which the systems are centralized. With the introduction of second-layer networks the scalability portion of the equation may come off to the second plan, so it'll certainly be interesting to observe the changes that will come to this field and what technologies will emerge in the coming years.",
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2018/04/23 18:50:42
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2018/04/22 18:45:33
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2018/04/22 15:15:33
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2018/04/22 15:06:39
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bodyToday blockchain technology is looked upon as the silver bullet that'll purge everything of imperfection, but is that quite true? Well, it definitely has a variety of use cases, yet it's being speculated merely for the sake of making XXX-profits buying shady coins or for the jump in stock price by means adding the word ‘blockchain’ or ‘crypto’ to the company’s name, yep, talking 'bout you, long blockchain (former iced tea) Evidently, some investors and even mass media can be misled by the sole mention of bitcoin or blockchain.Savvier ones would probably question the necessity of implementing the distributed ledger on the specific platform in the first place. If we were to examine the real benefits blockchain technology is carrying it'd surely be traceability, cost-effectiveness, immutability, elimination of human error, speeding up transactions and helping parties to reach agreements faster and more reliably by means of smart contracts. That said, as anything, Blockchain doesn't come as only positive, it has certain disadvantages and attributes that make the use of it simply impractical or just overkill in many cases, biggest one probably being the necessity to dedicate huge amounts of computing power to sustain its work, and hence, it doesn't take a genius to understand that the industries that'd benefit from leveraging blockchain are those in need of all that positive qualities, but who won't take a huge hit from it's shortcomings. Take state bodies and governments, for instance: the service is mostly bad and costly plus everything is dependent on government officials. In light of recent data privacy scandals and notorious cases of private user data breaches, it seems like putting Facebook or Twitter on blockchain may be the right step. And it’s probably about to happen in a matter of months: Meanwhile Telegram — an encrypted messaging service, that Russia tries so desperately to block, is setting a new ICO-cap record by raising over $1.2 billion as we speak! As Tim Draper (the person who was one of the first to invest in Google and Amazon) fairly notes, blockchain’s biggest power is the capability of safeguarding user personal data, which leads to a number of other use cases for all those industries that need accurate and secure data to run smoothly: healthcare, e-commerce, insurance, etc. And we don’t need to go far to see examples where world top-tier corporations are leveraging blockchain to enhance their operation. Bank of America has just received the patent for blockchain-based storage system. It addresses the issue of data transferring and tracking, and describes a system with automated data authentication and secured access of data. All the big names in IT and telecom are actively implementing distributed ledger for data protection and securing transactions too: Amazon also filed for the patent for streaming data marketplace that would enable users to receive real-time cryptocurrency transactions data. This development is seeking to assists corporations in managing big data by processing streaming data on a large scale with relatively low latency. Google is also in the loop: last week it announced two blockchain projects it’s working on: a “tamper-proof” auditing system and a cloud operations platform. Another telecom giant Cisco is now working on confidential communication system based on blockchain to ensure confidential and secure group messaging, file sharing, and tracking of membership history. Healthcare is one of those industries where once applied blockchain has the potential to serve for the good of humanity on a global scale. And it’s developing quite rapidly: a company based in Germany has just developed a Blockchain-based solution for the management of sensitive medical data, United Health Group — a big industry player in America — has also made its entry into blockchain. What all of those startups are doing is basically improving security and effective distribution of information among involved parties, providing for integrity of medical records and speeding up insurance claim payments. Turning to fintech, recent cases count Mastercard’s patent for a Blockchain system to store and verify identity data: “Marsh sees great opportunity in leveraging Blockchain technology to better serve our clients by maximizing efficiency and creating new opportunities in the insurance value chain”. Of all those use cases, the most global in terms of its potential to shift the whole economy system is probably blockchain’s implementation into supply chain system. And it well looks like e-commerce use cases are in a way stemming out of there. Making online payments easier and more secure is only the top of the iceberg. The whole idea of applying blockchain to supply chain is coming from its power to tokenize assets. Why tokenize? Well, economic reality now is that there is a large gap between the amount of money available and the number of valuable assets. And tokenization would allow any business to place their existing assets like real estate and inventory on blockchain, i.e. in a virtual space. This week’s headlines featured the news of Salesforce working on a blockchain product. Salesforce is delivering a CRM product and sells commercial applications of social networking through acquisition and internal development. Speaking of secure payments, one of the things that are in a bad need of change is definitely payment system, online payments in particular. Its importance for the global economy and business growth cannot be overestimated. Blockchain might fix it by making the transactions easily traceable, quick and, most importantly, with low transaction fees. And this is hugely important: if one can easily transfer any amounts of money, for instance, from Netherlands to China in one sweep and with low transaction costs, imagine all the business possibilities it would open! One of the recent examples here is a Sweden-based startup Cryptonex that ultimately seeks to create a win-win situation for consumers and businesses alike by making the payments with cryptocurrency as easy as payments with credit cards thus contributing to the adoption of cryptocurrency. Not only does it provide a functional tool for keeping and transfering money, it also supports Proof of Stake mining that brings in approx. 12% annually with the rewards coming in every day, and, on top of it all, unlike the conventional deposits, you can withdraw your funds anytime. Cryptonex is poised to bring blockchain to the masses and fuel the growth of the global sharing economy. However, sometimes blockchain use cases that first looked ridiculous in terms of the necessity to be put on smart contracts, now appear to be making more sense at a closer look. Take ‘Cryptokitties’ for instance. Is it just about buying pretty kitties and choosing fancy accessories for them? Or an attempt to create a virtual universe with virtual goods to be able to capitalize on? If you are a gaming and VR fan, you totally see what I mean. This possibility has recently been pictured by Steven Spielberg in his most recent work "Ready Player One" I’m a strong advocate for distributed ledger. But as with any emerging technology, the adoption time naturally varies greatly from one industry to another: a conscious team leader or CEO would not be pushing for ‘putting the business on blockchain" when realistically there’s absolutely no grounds for that. At the same time tech-community and crypto-economics researchers should make every effort to raise public awareness of how blockchain operates and in what ways it may benefit the businesses. Ultimately, like any new fundamental technology shift, the distributed ledger has great potential to reinvent the way global economy works contributing to the development of sharing economy or even paving the way for some sort of new economy model — let’s see what happens in the next 10 years.
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      "body": "Today blockchain technology is looked upon as the silver bullet that'll purge everything of imperfection,  but is that quite true? Well, it definitely has a variety of use cases, yet it's being speculated merely for the sake of making XXX-profits buying shady coins or for the jump in stock price by means adding the word ‘blockchain’ or ‘crypto’ to the company’s name, yep, talking 'bout you, long blockchain (former iced tea)\n\nEvidently, some investors and even mass media can be misled by the sole mention of bitcoin or blockchain.Savvier ones would probably question the necessity of implementing the distributed ledger on the specific platform in the first place.  If we were to examine the real benefits blockchain technology is carrying it'd surely be traceability, cost-effectiveness, immutability, elimination of human error, speeding up transactions and helping parties to reach agreements faster and more reliably by means of smart contracts. That said, as anything, Blockchain doesn't come as only positive, it has certain disadvantages and attributes that make the use of it simply impractical or just overkill in many cases, biggest one probably being the necessity to dedicate huge amounts of computing power to sustain its work, and hence, it doesn't take a genius to understand that the industries that'd benefit from leveraging blockchain are those in need of all that positive qualities, but who won't take a huge hit from it's shortcomings. Take state bodies and governments,  for instance: the service is mostly bad and costly plus everything is dependent on government officials. In light of recent data privacy scandals and notorious cases of private user data breaches, it seems like putting Facebook or Twitter on blockchain may be the right step. And it’s probably about to happen in a matter of months: Meanwhile Telegram — an encrypted messaging service, that Russia tries so desperately to block, is setting a new ICO-cap record by raising over $1.2 billion as we speak! As Tim Draper (the person who was one of the first to invest in Google and Amazon) fairly notes, blockchain’s biggest power is the capability of safeguarding user personal data, which leads to a number of other use cases for all those industries that need accurate and secure data to run smoothly: healthcare, e-commerce, insurance, etc.\n\nAnd we don’t need to go far to see examples where world top-tier corporations are leveraging blockchain to enhance their operation. Bank of America has just received the patent for blockchain-based storage system. It addresses the issue of data transferring and tracking, and describes a system with automated data authentication and secured access of data. All the big names in IT and telecom are actively implementing distributed ledger for data protection and securing transactions too: Amazon also filed for the patent for streaming data marketplace that would enable users to receive real-time cryptocurrency transactions data. This development is seeking to assists corporations in managing big data by processing streaming data on a large scale with relatively low latency. Google is also in the loop: last week it announced two blockchain projects it’s working on: a “tamper-proof” auditing system and a cloud operations platform. Another telecom giant Cisco is now working on confidential communication system based on blockchain to ensure confidential and secure group messaging, file sharing, and tracking of membership history.\n\nHealthcare is one of those industries where once applied blockchain has the potential to serve for the good of humanity on a global scale. And it’s developing quite rapidly: a company based in Germany has just developed a Blockchain-based solution for the management of sensitive medical data, United Health Group — a big industry player in America — has also made its entry into blockchain. What all of those startups are doing is basically improving security and effective distribution of information among involved parties, providing for integrity of medical records and speeding up insurance claim payments.\n\nTurning to fintech, recent cases count Mastercard’s patent for a Blockchain system to store and verify identity data: “Marsh sees great opportunity in leveraging Blockchain technology to better serve our clients by maximizing efficiency and creating new opportunities in the insurance value chain”.\n\nOf all those use cases, the most global in terms of its potential to shift the whole economy system is probably blockchain’s implementation into supply chain system. And it well looks like e-commerce use cases are in a way stemming out of there. Making online payments easier and more secure is only the top of the iceberg. The whole idea of applying blockchain to supply chain is coming from its power to tokenize assets. Why tokenize? Well, economic reality now is that there is a large gap between the amount of money available and the number of valuable assets. And tokenization would allow any business to place their existing assets like real estate and inventory on blockchain, i.e. in a virtual space. This week’s headlines featured the news of Salesforce working on a blockchain product. Salesforce is delivering a CRM product and sells commercial applications of social networking through acquisition and internal development.\n\nSpeaking of secure payments, one of the things that are in a bad need of change is definitely payment system, online payments in particular. Its importance for the global economy and business growth cannot be overestimated. Blockchain might fix it by making the transactions easily traceable, quick and, most importantly, with low transaction fees. And this is hugely important: if one can easily transfer any amounts of money, for instance, from Netherlands to China in one sweep and with low transaction costs, imagine all the business possibilities it would open! One of the recent examples here is a Sweden-based startup Cryptonex that ultimately seeks to create a win-win situation for consumers and businesses alike by making the payments with cryptocurrency as easy as payments with credit cards thus contributing to the adoption of cryptocurrency. Not only does it provide a functional tool for keeping and transfering money, it also supports Proof of Stake mining that brings in approx. 12% annually with the rewards coming in every day, and, on top of it all, unlike the conventional deposits, you can withdraw your funds anytime. Cryptonex is poised to bring blockchain to the masses and fuel the growth of the global sharing economy.\n\nHowever, sometimes blockchain use cases that first looked ridiculous in terms of the necessity to be put on smart contracts, now appear to be making more sense at a closer look. Take ‘Cryptokitties’ for instance. Is it just about buying pretty kitties and choosing fancy accessories for them? Or an attempt to create a virtual universe with virtual goods to be able to capitalize on? If you are a gaming and VR fan, you totally see what I mean. This possibility has recently been pictured by Steven Spielberg in his most recent work \"Ready Player One\"\n \nI’m a strong advocate for distributed ledger. But as with any emerging technology, the adoption time naturally varies greatly from one industry to another: a conscious team leader or CEO would not be pushing for ‘putting the business on blockchain\" when realistically there’s absolutely no grounds for that. At the same time tech-community and crypto-economics researchers should make every effort to raise public awareness of how blockchain operates and in what ways it may benefit the businesses. Ultimately, like any new fundamental technology shift, the distributed ledger has great potential to reinvent the way global economy works contributing to the development of sharing economy or even paving the way for some sort of new economy model — let’s see what happens in the next 10 years.",
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2018/04/09 22:09:36
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2018/04/09 19:08:33
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2018/04/09 19:08:27
parent authors3quence
parent permlinkcryptonex-a-second-worlds-currency-with-a-functioning-p2p-network
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permlinkre-s3quence-cryptonex-a-second-worlds-currency-with-a-functioning-p2p-network-20180409t190825732z
title
body**Coins mentioned in post:** Coin | | Price (USD) | 📉 24h | 📉 7d - | - | - | - | - **BCH** | Bitcoin Cash | 638.981$ | _-2.09%_ | _-4.0%_ **BTC** | Bitcoin | 6773.540$ | _-3.38%_ | _-3.71%_ **CNX** | Cryptonex | 4.850$ | _-2.58%_ | _-0.22%_ **ETH** | Ethereum | 402.299$ | _1.04%_ | _4.01%_
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2018/04/09 18:55:30
parent author
parent permlinkcryptocurrency
authors3quence
permlinkcryptonex-a-second-worlds-currency-with-a-functioning-p2p-network
titleCryptonex, a second worlds’ currency with a functioning P2P network
body@@ -656,16 +656,24 @@ ge.png)%0A +###### _ Diversif @@ -699,16 +699,18 @@ ey said%E2%80%A6 +_%0A %0A%0AAs you @@ -735,16 +735,22 @@ reenshot + above , when B
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2018/04/09 18:52:57
voterhackerzizon
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2018/04/09 18:51:06
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parent permlinkcryptocurrency
authors3quence
permlinkcryptonex-a-second-worlds-currency-with-a-functioning-p2p-network
titleCryptonex, a second worlds’ currency with a functioning P2P network
body## Cryptonex has rolled out with a new feature, a P2P platform that allows you to exchange your cryptocurrency directly for fiat currency without a middleman. Now, let’s see why that’s such a big deal. We’re all pretty used to a sometimes rather sudden and sometimes quite anticipated highs and drops in the cryptocurrency market, and whether you are a newcomer to a cryptocurrency market or a salty oldfag, you’ve probably seen a couple of forum threads or articles going over how you should diversify your holdings over different coins, but is it really going to help you? (https://steemitimages.com/DQmeLJVp1z48LLoCraLHFTZQJRoaXQ9Rt1uW83vbbJa4Xtc/image.png) Diversify your holdings, they said… As you can see on the screenshot, when Bitcoin’s price falls or grows the other currencies follow, and terrifyingly accurately at that. A lot of currencies and third party devs has tried to create p2p platforms for interpersonal fiat-cryptocurrency exchange, including BCH and ETH, but only BTC succeeded with localbitcoins. Now, Cryptonex can be added to this list as well, making it a second cryptocurrency in the world to have the functioning p2p network. This means that Cryptonex’s price is no longer that affiliated with BTC’s one. Furthermore, this makes CNX arguably the best coin out there for doing business. This claim is supported by: * Instant transactions, which in future may allow for daily life payments with this currency * Fixed 0,0001% CNX fee for the transactions, while it may be a lot for a huge amounts of money, it’s still miles better than banks, and, considering that most of cryptocurrency transactions are on the lower side, this is much better from the economical perspective * Cryptonex is functioning worldwide. If I need to transfer 1 000 000 USD from, say, Netherlands to Japan, I’ll have to enter a receiving address and press 1 button. In the next instant the money are already there. Talk about convenient! And the best thing is that the commission for this transaction will be only 100 US dollars. * POS mining. You transfer your funds to a mobile wallet and keep it online as much as possible. The 12% annually is in your pocket, with rewards coming daily and funds being avaliable for withdrawal at any moment. * Pleasant features and additions, they operate on their own blockchain, that combines the advantages of both POW Script and POS mining, have the web-wallet, direct fiat deposits, own exchange platform, finished mobile app, p2p platform and are working on many more features, like hardware wallets with no wallet.dat e.t.c. If that’s not the face of digital economy than I don’t really know what is.!
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      "title": "Cryptonex, a second worlds’ currency with a functioning P2P network",
      "body": "## Cryptonex has rolled out with a new feature, a P2P platform that allows you to exchange your cryptocurrency directly for fiat currency without a middleman. Now, let’s see why that’s such a big deal.\n\nWe’re all pretty used to a sometimes rather sudden and sometimes quite anticipated highs and drops in the cryptocurrency market, and whether you are a newcomer to a cryptocurrency market or a salty oldfag, you’ve probably seen a couple of forum threads or articles going over how you should diversify your holdings over different coins, but is it really going to help you?\n\n(https://steemitimages.com/DQmeLJVp1z48LLoCraLHFTZQJRoaXQ9Rt1uW83vbbJa4Xtc/image.png)\nDiversify your holdings, they said…\n\nAs you can see on the screenshot, when Bitcoin’s price falls or grows the other currencies follow, and terrifyingly accurately at that.\nA lot of currencies and third party devs has tried to create p2p platforms for interpersonal fiat-cryptocurrency exchange, including BCH and ETH, but only BTC succeeded with localbitcoins. Now, Cryptonex can be added to this list as well, making it a second cryptocurrency in the world to have the functioning p2p network. This means that Cryptonex’s price is no longer that affiliated with BTC’s one. Furthermore, this makes CNX arguably the best coin out there for doing business. This claim is supported by:\n\n* Instant transactions, which in future may allow for daily life payments with this currency\n\n* Fixed 0,0001% CNX fee for the transactions, while it may be a lot for a huge amounts of money, it’s still miles better than banks, and, considering that most of cryptocurrency transactions are on the lower side, this is much better from the economical perspective\n\n* Cryptonex is functioning worldwide. If I need to transfer 1 000 000 USD from, say, Netherlands to Japan, I’ll have to enter a receiving address and press 1 button. In the next instant the money are already there. Talk about convenient! And the best thing is that the commission for this transaction will be only 100 US dollars.\n\n* POS mining. You transfer your funds to a mobile wallet and keep it online as much as possible. The 12% annually is in your pocket, with rewards coming daily and funds being avaliable for withdrawal at any moment.\n\n* Pleasant features and additions, they operate on their own blockchain, that combines the advantages of both POW Script and POS mining, have the web-wallet, direct fiat deposits, own exchange platform, finished mobile app, p2p platform and are working on many more features, like hardware wallets with no wallet.dat e.t.c.\n\nIf that’s not the face of digital economy than I don’t really know what is.!",
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2018/03/27 20:52:03
parent authorhardinero007
parent permlinkre-hardinero007-re-andrewwu-cryptonex-cnx-sent-1000-tokens-to-my-ether-wallet-is-it-a-scam-20171031t181532617z
authors3quence
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title
bodyWell, it's been a bit too long, but I'm going to clarify this anyway. There is CNX coin that is traded at HitBtc and ERC20 CNX token that was airdropped to random addresses and has no particular value as of now. It's a bit confusing since they've got the same abbreviation, but I hope you understan. Etherdelta has listed this token without Cryptonex's approval, and then denied all the requests to delist it, but you can still drop this tokens there if so you wish, it'll be like 6 bucks worth of ETH or something like that. Still, I'll highly suggest you wait for the next bounty campaign where you will be able to trade this tokens for the CNX coins at a certain rate that will be announce later, given that you haven't got rid of them until now
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      "body": "Well, it's been a bit too long, but I'm going to clarify this anyway. \nThere is CNX coin that is traded at HitBtc and ERC20 CNX token that was airdropped to random addresses and has no particular value as of now. It's a bit confusing since they've got the same abbreviation, but I hope you understan.  Etherdelta has listed this token without Cryptonex's approval, and then denied all the requests to delist it,  but you can still drop this tokens there if so you wish, it'll be like 6 bucks worth of ETH or something like that. Still, I'll highly suggest you wait for the next bounty campaign where you will be able to trade this tokens for the CNX coins at a certain rate that will be announce later, given that you haven't got rid of them until now",
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2018/03/15 00:12:39
parent authorwritingscooter
parent permlinkcryptonex
authors3quence
permlinkre-writingscooter-cryptonex-20180315t001238658z
title
body**Cryptonex** aims to create a system that will allow exchanging any fiat currency for any *supported* cryptocurrency, exchanging between any two given cryptocurrencies, and, in the future, to pay for virtually anything with a mobile app or credit cards of partner banks. The project has the real - world use case, and I can certainly see the potential for mass-adoption here, but what are the guarantees that banks and payment systems, some of which admit financing mass-media campaigns against cryptocurrencies would join forces with a blockchain related project? Well, Cryptonex mentioned they are going to buy a bank, but is that really going to happen? With that said, a lot of projects nowadays have huge things planned, so let's look at what they've already achieved. Out of curiosity, I've registered on their platform in order to try it out, and, as far as I understand, all it does is allow you to exchange your CNX directly to GBP, EUR, USD, BRL, RUB. deposit on the platform without commissions, and later perform transactions and withdrawals. It sort of resembles the ordinary exchanges we're all used to, but with the addition of fiat trading pairs other than USD. If this platform adds support for more currencies, some people may start using it. Imagine you got a crypto-cart that is bound with your account, on which there are like 50 different coins/tokens and when you're actually buying stuff you can choose for the funds to be taken in equal portions from all cryptos, or to pay with a specific currency, or a bunch of them etc., and then they'll be converted to $ instantly and with minimal fees, or without fees at all. I'm just imagining and taking wild guesses here, but Cryptonex is really going to be big given that they keep up the good work with the development, of course, and that looks like a challenging thing to accomplish. There sure are some downright crazy moments in their plans, like purchasing a functioning bank, good luck with that, lol, but all in all, I do believe that their idea can be pulled off, not without narrowing the scope though. As for the current progress, they seem to be following the development schedule just right with recent announcements of close releases of mobile app and p2p platforms, the development of their mobile wallet and start of work on the hardware wallets. Back to mining part, starting off with POS-mining is stupid-easy and it brings some juicy profits. (Also it has taken awhile for the first reward to come because the number of coins in my wallet wasn't that big). 12% annually is a good profit, not crazy big, but when you consider the price-growth over time it becomes even more appealing. All in all, I think this project has a great long-term perspective, but everything is hardly dependant on how the development proceeds. They seem to be doing ok so far, though marketing can certainly use some work. As to the article above, it's ok for the most part. Though, I don't think it's really appropriate to call Cryptonex a blockchain bank without quotes. Also, the comparison with Bitcoin and Litecoin seems really out of place. Some features were completely overlooked, for instance, that Cryptonex combines POW Script mining with POS algorithms. So the part about the safety comparison can be overlooked while there's no in-depth analysis of a technical part. However, one thing that could be said after pointing the difference in the coin supply is that the CNX's price will be unlikely to rise as high or as drastically as that of Bitcoin, which will make it more understandable to pay for goods and services with it. Afterall, it's easier to comprehend the difference in price when you are talking whole numbers. Paying for the mug of coffee in BTC now will be just ridiculous, especially considering a rather big transaction fee and slow transaction speed, both of which are better in this one. Then again, I never had a feeling that CNX is really intended for such use after doing a little research.
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      "body": "**Cryptonex** aims to create a system that will allow exchanging any fiat currency for any *supported* cryptocurrency, exchanging between any two given cryptocurrencies, and, in the future, to pay for virtually anything with a mobile app or credit cards of partner banks. The project has the real - world use case, and I can certainly see the potential for mass-adoption here, but what are the guarantees that banks and payment systems, some of which admit financing mass-media campaigns against cryptocurrencies would join forces with a blockchain related project? Well, Cryptonex mentioned they are going to buy a bank, but is that really going to happen?\n\nWith that said, a lot of projects nowadays have huge things planned, so let's look at what they've already achieved. Out of curiosity, I've registered on their platform in order to try it out, and, as far as I understand, all it does is allow you to exchange your CNX directly to GBP, EUR, USD, BRL, RUB. deposit on the platform without commissions, and later perform transactions and withdrawals. It sort of resembles the ordinary exchanges we're all used to, but with the addition of fiat trading pairs other than USD. If this platform adds support for more currencies, some people may start using it. Imagine you got a crypto-cart that is bound with your account, on which there are like 50 different coins/tokens and when you're actually buying stuff you can choose for the funds to be taken in equal portions from all cryptos, or to pay with a specific currency, or a bunch of them etc., and then they'll be converted to $ instantly and with minimal fees, or without fees at all. I'm just imagining and taking wild guesses here, but Cryptonex is really going to be big given that they keep up the good work with the development, of course, and that looks like a challenging thing to accomplish. There sure are some downright crazy moments in their plans, like purchasing a functioning bank, good luck with that, lol, but all in all, I do believe that their idea can be pulled off, not without narrowing the scope though.\n\nAs for the current progress, they seem to be following the development schedule just right with recent announcements of close releases of mobile app and p2p platforms, the development of their mobile wallet and start of work on the hardware wallets. Back to mining part, starting off with POS-mining is stupid-easy and it brings some juicy profits. (Also it has taken awhile for the first reward to come because the number of coins in my wallet wasn't that big). 12% annually is a good profit, not crazy big, but when you consider the price-growth over time it becomes even more appealing. All in all, I think this project has a great long-term perspective, but everything is hardly dependant on how the development proceeds. They seem to be doing ok so far, though marketing can certainly use some work.\n\nAs to the article above, it's ok for the most part. Though, I don't think it's really appropriate to call Cryptonex a blockchain bank without quotes. Also, the comparison with Bitcoin and Litecoin seems really out of place. Some features were completely overlooked, for instance, that Cryptonex combines POW Script mining with POS algorithms. So the part about the safety comparison can be overlooked while there's no in-depth analysis of a technical part. However, one thing that could be said after pointing the difference in the coin supply is that the CNX's price will be unlikely to rise as high or as drastically as that of Bitcoin, which will make it more understandable to pay for goods and services with it. Afterall, it's easier to comprehend the difference in price when you are talking whole numbers. Paying for the mug of coffee in BTC now will be just ridiculous, especially considering a rather big transaction fee and slow transaction speed, both of which are better in this one. Then again, I never had a feeling that CNX is really intended for such use after doing a little research.",
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steemdelegated 18.704 SP to @s3quence
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        "key_auths": [
          [
            "STM7dygWnPRHVQcpgsgQKKLzBHZHeW7M4dRE666bMVNVv5ZpPSty6",
            1
          ]
        ]
      },
      "memo_key": "STM73NXUBDuGLTH5RAbgeyU5DegvkEaGb1XAP2oRtozzu78TsMLWY",
      "json_metadata": "{}",
      "extensions": []
    }
  ]
}

Account Metadata

POSTING JSON METADATA
None
JSON METADATA
None
{
  "posting_json_metadata": {},
  "json_metadata": {}
}

Auth Keys

Owner
Single Signature
Public Keys
STM5bNYFYzH2vwB9avkSwYpaQactBYmqKn3VNXfg4WjhNaFL3uBhm1/1
Active
Single Signature
Public Keys
STM6LCgHSaf2f6ofCEsc17VizfCUgbaW2LhsY7o1WeWe6G4ynpeWa1/1
Posting
Single Signature
Public Keys
STM7dygWnPRHVQcpgsgQKKLzBHZHeW7M4dRE666bMVNVv5ZpPSty61/1
Memo
STM73NXUBDuGLTH5RAbgeyU5DegvkEaGb1XAP2oRtozzu78TsMLWY
{
  "owner": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM5bNYFYzH2vwB9avkSwYpaQactBYmqKn3VNXfg4WjhNaFL3uBhm",
        1
      ]
    ]
  },
  "active": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM6LCgHSaf2f6ofCEsc17VizfCUgbaW2LhsY7o1WeWe6G4ynpeWa",
        1
      ]
    ]
  },
  "posting": {
    "weight_threshold": 1,
    "account_auths": [],
    "key_auths": [
      [
        "STM7dygWnPRHVQcpgsgQKKLzBHZHeW7M4dRE666bMVNVv5ZpPSty6",
        1
      ]
    ]
  },
  "memo": "STM73NXUBDuGLTH5RAbgeyU5DegvkEaGb1XAP2oRtozzu78TsMLWY"
}

Witness Votes

0 / 30
No active witness votes.
[]