@saswat99
25Enginner. MBA. Husband. Banker. Blockchain Enthusiast. Aspiring Writer & Blogger
steemit.com/@saswat99VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
0.000USD
STEEM
0.005STEEM
SBD
0.000SBD
Effective Power
3.365SP
├── Own SP
0.000SP
└── Incoming DelegationsDeleg
+3.365SP
Detailed Balance
| STEEM | ||
| balance | 0.005STEEM | STEEM |
| market_balance | 0.000STEEM | STEEM |
| savings_balance | 0.000STEEM | STEEM |
| reward_steem_balance | 0.000STEEM | STEEM |
| STEEM POWER | ||
| Own SP | 0.000SP | SP |
| Delegated Out | 0.000SP | SP |
| Delegation In | 3.365SP | SP |
| Effective Power | 3.365SP | SP |
| Reward SP (pending) | 0.001SP | SP |
| SBD | ||
| sbd_balance | 0.000SBD | SBD |
| sbd_conversions | 0.000SBD | SBD |
| sbd_market_balance | 0.000SBD | SBD |
| savings_sbd_balance | 0.000SBD | SBD |
| reward_sbd_balance | 0.000SBD | SBD |
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"savings_sbd_balance": "0.000 SBD",
"reward_sbd_balance": "0.000 SBD",
"conversions": []
}Account Info
| name | saswat99 |
| id | 1439741 |
| rank | 1,404,281 |
| reputation | 8049355 |
| created | 2020-10-25T07:29:57 |
| recovery_account | steem |
| proxy | None |
| post_count | 3 |
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| savings_sbd_balance | 0.000 SBD |
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| delegated_vesting_shares | 0.000000 VESTS |
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| next_vesting_withdrawal | 1969-12-31T23:59:59 |
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| reset_account | null |
| last_owner_update | 1970-01-01T00:00:00 |
| last_account_update | 2020-12-11T10:21:39 |
| mined | No |
| sbd_seconds | 0 |
| sbd_last_interest_payment | 1970-01-01T00:00:00 |
| savings_sbd_last_interest_payment | 1970-01-01T00:00:00 |
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}Withdraw Routes
| Incoming | Outgoing |
|---|---|
Empty | Empty |
{
"incoming": [],
"outgoing": []
}From Date
To Date
2026/01/23 23:48:27
2026/01/23 23:48:27
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 5472.996220 VESTS |
| Transaction Info | Block #102870985/Trx 0ebe1c35c29782bc01a6a88bc79c13d2a9b6d5ad |
View Raw JSON Data
{
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{
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"vesting_shares": "5472.996220 VESTS"
}
]
}2024/12/17 18:58:06
2024/12/17 18:58:06
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 5637.215417 VESTS |
| Transaction Info | Block #91317191/Trx 51325da0e47290d124663fe8164ffa902d50d50a |
View Raw JSON Data
{
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}2023/11/14 10:39:42
2023/11/14 10:39:42
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 5806.348949 VESTS |
| Transaction Info | Block #79871352/Trx f998acfc38ec09204b2353d21cbcb27b9aab765f |
View Raw JSON Data
{
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"vesting_shares": "5806.348949 VESTS"
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]
}2023/09/22 10:17:24
2023/09/22 10:17:24
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 8743.257735 VESTS |
| Transaction Info | Block #78362743/Trx 8f0b3e2d262abd2907caba67384939e76a3f45d2 |
View Raw JSON Data
{
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}2022/12/17 04:09:03
2022/12/17 04:09:03
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 8933.924952 VESTS |
| Transaction Info | Block #70364838/Trx fbe5ce35d157a43f6b15ac244798674f651f51d7 |
View Raw JSON Data
{
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"vesting_shares": "8933.924952 VESTS"
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}2022/04/21 01:05:42
2022/04/21 01:05:42
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 9112.662561 VESTS |
| Transaction Info | Block #63487872/Trx 288182a4e338b1a521b96378702b04c771c00c7b |
View Raw JSON Data
{
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}2021/09/04 16:52:24
2021/09/04 16:52:24
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 9294.946329 VESTS |
| Transaction Info | Block #56964189/Trx 75d80b3734c33c9ec46e0c8075c4f3d88c568943 |
View Raw JSON Data
{
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"vesting_shares": "9294.946329 VESTS"
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}2021/06/27 02:16:15
2021/06/27 02:16:15
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 28070.718362 VESTS |
| Transaction Info | Block #54981142/Trx 82cc8e622ee7e09bfc808ef9f1b01bf2acfa409f |
View Raw JSON Data
{
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}crypto.piotrsent 0.003 STEEM to @saswat99- "Regarding the latest information and development of Steemauto. Old SteemAuto is already being switched off. Today, I would like to introduce you to new version of SteemAuto launched by one of most rep..."2021/06/12 19:37:30
crypto.piotrsent 0.003 STEEM to @saswat99- "Regarding the latest information and development of Steemauto. Old SteemAuto is already being switched off. Today, I would like to introduce you to new version of SteemAuto launched by one of most rep..."
2021/06/12 19:37:30
| from | crypto.piotr |
| to | saswat99 |
| amount | 0.003 STEEM |
| memo | Regarding the latest information and development of Steemauto. Old SteemAuto is already being switched off. Today, I would like to introduce you to new version of SteemAuto launched by one of most reputable witness. You can find it here: https://worldofxpilar.com/dash.php . I've helped testing it and it's WORKING GREAT so far (In case if you would have any questions, consider joining their discord channel: https://discord.com/invite/VAHHsmnNaJ ) |
| Transaction Info | Block #54572956/Trx 6985fe944a3b5da05dfb4082387538b9ad9ab99d |
View Raw JSON Data
{
"trx_id": "6985fe944a3b5da05dfb4082387538b9ad9ab99d",
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"timestamp": "2021-06-12T19:37:30",
"op": [
"transfer",
{
"from": "crypto.piotr",
"to": "saswat99",
"amount": "0.003 STEEM",
"memo": "Regarding the latest information and development of Steemauto. Old SteemAuto is already being switched off. Today, I would like to introduce you to new version of SteemAuto launched by one of most reputable witness. You can find it here: https://worldofxpilar.com/dash.php . I've helped testing it and it's WORKING GREAT so far (In case if you would have any questions, consider joining their discord channel: https://discord.com/invite/VAHHsmnNaJ )"
}
]
}2021/06/05 15:10:57
2021/06/05 15:10:57
| voter | saswat99 |
| author | saswat99 |
| permlink | the-evolution-of-the-indian-bond-market-on-the-precipice-of-blockchain-backed-open-bond-market |
| weight | 10000 (100.00%) |
| Transaction Info | Block #54367564/Trx 65a7a93c99ed81ef08b806928086d86da82871f5 |
View Raw JSON Data
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}2021/06/05 09:21:21
2021/06/05 09:21:21
| parent author | |
| parent permlink | indianbondmarket |
| author | saswat99 |
| permlink | the-evolution-of-the-indian-bond-market-on-the-precipice-of-blockchain-backed-open-bond-market |
| title | The evolution of the Indian Bond market on the precipice of Blockchain-backed Open Bond Market |
| body | “Bond” or “Debt” is one of the oldest financial instruments to be used by mankind. According to Wikipedia, the first known bond in history dates back to 2400 BC in Nippur, Mesopotamia. Eons before its more glamourous cousin “Equity” or “Stock” made its debut in 1602 with the first-ever joint-stock corporation, the now infamous Dutch East India Company. However, owing to its lack of the aforementioned “glamour” quotient (measured by the thrill-ability of making you rich overnight), Bond hasn’t quite gone mainstream as direct equity has, especially in the everyday-man’s investment portfolio. It has remained the fiefdom of big conglomerates, corporations, pension funds and mutual funds. While the majority of new-age tech and finance-savvy young investors are more than happy to dabble in and hold direct stocks in their portfolios, the only way they invest in bonds is through their mutual fund units. The disparity between the two asset classes is starker, the more you move away from developed economies like the US and the UK to developing economies like India. There are various reasons why bonds haven’t seen the same level of retail participation as stocks have, apart from the one mentioned above. 1. The bond issuance and lifecycle management are still paper-based in a lot of economies around the world. This makes it slow and prone to errors. 2. The cost of bond issuance and management is high for corporates due to the presence of myriad self-serving, rent-seeking intermediaries like investment/merchant banks, syndicate members, asset managers, agent banks, payee banks, custodians, clearing houses, etc. The list is an un-ending one, with every entity working in separate silos. 3. The process is not only time and resources-consuming for the corporate looking to burrow, but also requires a lot of know-how to file the correct documentation. Cue the intermediary banks, who charge a bomb for their specialized services. 4. The aptly-named syndicate members comprise of investment banks, wealth managers, broking houses, etc., who sell the bonds to their client-base consisting of institutional treasuries, mutual fund and pension fund houses, family offices, HNIs and finally retail investors, etc. The syndicate doesn’t do it out of the goodness of their heart, but for hefty commissions, many-a-times both upstream as well as downstream. 5. Bonds typically have a much higher Minimum investment amount compared to stocks. This results in the average investor giving them a wide berth, unlike many stocks which can be bought for pennies on the dollar. All of the above reasons and more, compel the bond issuer to take the route of “Private placement”, which by nature precludes the retail investors from participating. The bond issuer doesn’t get the economies of scale that mass retail participation could provide, while the retail investors lose out on a stable and inflation-adjusted mode of saving or investment. Close to 90% of all bond issuance in India happens through private placement instead of through public offer. This also makes the bonds much more illiquid compared to stocks in the secondary markets. A healthy, liquid and mass-adopted bond market is a pre-requisite for development as shown by all the leading economies of the world. If India has to realize its ambition of becoming a $5 Trillion economy by 2024, developing the bond market is imperative. Banks cannot serve the expansion and working capital needs of all the corporates as well as SMSEs efficiently, nor do they have the risk appetite for it. Only an efficient, agile and liquid Bond market can. This can happen with the application of Blockchain technology in the bond issuance and lifecycle management. Let’s take a brief look at the recent innovations, which can ultimately lead up to Blockchain “saving the day” for the bond market. The earlier bond issuance and lifecycle management process was a paper-based one. It made the payment and settlement process for the bonds very long and complicated due to the movement of physical paper through many convoluted channels, while also making the process very expensive, inefficient and error-prone. These problems were solved to an extent by the digitization of all records and making the bonds issuance and management process completely paper-less. The issue of centralization of economic power and lack of regulatory oversight was solved to an extent, by giving greater power to regulators like SEBI and introducing multiple parties like agent banks, merchant banks, custodians, counterparties, exchanges like NSE, BSE and making all payments mandatorily through central clearing houses. However, these multiple systems/authorities involved in the process existed in silos, creating the need for continuous reconciliation of records among them, thereby keeping the settlement cycles long. This could be solved by implementing a distributed ledger infrastructure (DLT) among all the major participants in the bonds’ lifecycle, where every participant would have and agree on the same information on the bonds real-time. However, the implementation of DLT was held back due its inherent security issue known as Byzantine Generals Problem (BGP). If 50% or more of the participants fell off the grid or turned rogue, the information on the DLT couldn’t be trusted to be immutable any longer. “Bit Gold” proposed by Nick Szabo first attempted to overcome this problem by proposing a decentralized currency based on “computing a string of bits from a string of challenge bits”, introducing innovative concepts like “proof of work (PoW) function” and “client puzzle function”. This, along with the consensus mechanism of having at least 50% of participants or nodes to agree on the longest chain with the highest cumulative PoW as the only legitimate version of truth, helped overcome the BGP problem in a decentralized network. While Bit Gold never went live, it became the precursor to arguably the most seismic tech invention in recent times “Bitcoin”, proposed by Satoshi Nakamoto. Bitcoin improved on Bit Gold and was also able to solve the problem of double-spending. Double-spending is the act of easily copying and reusing the same currency twice, without the presence of a central authority to decide whether a coin has been spent more than one time by the same person or participant. This was achieved by implementing distributed peer-to-peer timestamp servers, which generate computational proof for the chronological order of transactions stored in a chain of blocks called the Blockchain which forms the ledger or the database of the network. While, Bitcoin presented a distributed ledger technology which could be reliably used for “transfer and store of value” in a decentralized, immutable, transparent and reliable manner, it could neither automate the payment & settlement process and hence, disintermediating the bond issuance process, thereby it near instantaneous. This final hurdle can now be solved with the introduction and evolution of the ‘Smart Contracts” technology pioneered by Ethereum. Using this technology, Blockchain can finally help in removing or at least deleveraging the multiple intermediaries in the bond ecosystem by automating the bond contracts between the producers and the end consumers in the value chain. Smart contracts can also help with tokenization of bonds. These Bond Tokens possess the unique characteristic of embodying both the ownership as well as value of the bond in a single construct, without the need for a central authority to record and prove the ownership. Tokenization can also help in fractional ownership of bonds, allowing them to be traded directly in much smaller denominations, without the need for an investor to take the mutual fund route. This will enable mass-adoption of bonds as well as solve the problem of illiquidity in the secondary bond market. The stage is set. The technology, infrastructure, know-how, everything is set. For the ultimate revolution in the bond market to begin, only thing it needs is regulatory openness and willingness to take the plunge. |
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| Transaction Info | Block #54360627/Trx 819d38706ab9f83d63f159aad251037f4b62de73 |
View Raw JSON Data
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"title": "The evolution of the Indian Bond market on the precipice of Blockchain-backed Open Bond Market",
"body": "“Bond” or “Debt” is one of the oldest financial instruments to be used by mankind. According to Wikipedia, the first known bond in history dates back to 2400 BC in Nippur, Mesopotamia. Eons before its more glamourous cousin “Equity” or “Stock” made its debut in 1602 with the first-ever joint-stock corporation, the now infamous Dutch East India Company. However, owing to its lack of the aforementioned “glamour” quotient (measured by the thrill-ability of making you rich overnight), Bond hasn’t quite gone mainstream as direct equity has, especially in the everyday-man’s investment portfolio. It has remained the fiefdom of big conglomerates, corporations, pension funds and mutual funds. While the majority of new-age tech and finance-savvy young investors are more than happy to dabble in and hold direct stocks in their portfolios, the only way they invest in bonds is through their mutual fund units.\nThe disparity between the two asset classes is starker, the more you move away from developed economies like the US and the UK to developing economies like India. There are various reasons why bonds haven’t seen the same level of retail participation as stocks have, apart from the one mentioned above.\n1. The bond issuance and lifecycle management are still paper-based in a lot of economies around the world. This makes it slow and prone to errors.\n2. The cost of bond issuance and management is high for corporates due to the presence of myriad self-serving, rent-seeking intermediaries like investment/merchant banks, syndicate members, asset managers, agent banks, payee banks, custodians, clearing houses, etc. The list is an un-ending one, with every entity working in separate silos.\n3. The process is not only time and resources-consuming for the corporate looking to burrow, but also requires a lot of know-how to file the correct documentation. Cue the intermediary banks, who charge a bomb for their specialized services.\n4. The aptly-named syndicate members comprise of investment banks, wealth managers, broking houses, etc., who sell the bonds to their client-base consisting of institutional treasuries, mutual fund and pension fund houses, family offices, HNIs and finally retail investors, etc. The syndicate doesn’t do it out of the goodness of their heart, but for hefty commissions, many-a-times both upstream as well as downstream.\n5. Bonds typically have a much higher Minimum investment amount compared to stocks. This results in the average investor giving them a wide berth, unlike many stocks which can be bought for pennies on the dollar.\nAll of the above reasons and more, compel the bond issuer to take the route of “Private placement”, which by nature precludes the retail investors from participating. The bond issuer doesn’t get the economies of scale that mass retail participation could provide, while the retail investors lose out on a stable and inflation-adjusted mode of saving or investment. Close to 90% of all bond issuance in India happens through private placement instead of through public offer. This also makes the bonds much more illiquid compared to stocks in the secondary markets.\nA healthy, liquid and mass-adopted bond market is a pre-requisite for development as shown by all the leading economies of the world. If India has to realize its ambition of becoming a $5 Trillion economy by 2024, developing the bond market is imperative. Banks cannot serve the expansion and working capital needs of all the corporates as well as SMSEs efficiently, nor do they have the risk appetite for it. Only an efficient, agile and liquid Bond market can. This can happen with the application of Blockchain technology in the bond issuance and lifecycle management. Let’s take a brief look at the recent innovations, which can ultimately lead up to Blockchain “saving the day” for the bond market.\nThe earlier bond issuance and lifecycle management process was a paper-based one. It made the payment and settlement process for the bonds very long and complicated due to the movement of physical paper through many convoluted channels, while also making the process very expensive, inefficient and error-prone. These problems were solved to an extent by the digitization of all records and making the bonds issuance and management process completely paper-less. The issue of centralization of economic power and lack of regulatory oversight was solved to an extent, by giving greater power to regulators like SEBI and introducing multiple parties like agent banks, merchant banks, custodians, counterparties, exchanges like NSE, BSE and making all payments mandatorily through central clearing houses. However, these multiple systems/authorities involved in the process existed in silos, creating the need for continuous reconciliation of records among them, thereby keeping the settlement cycles long. This could be solved by implementing a distributed ledger infrastructure (DLT) among all the major participants in the bonds’ lifecycle, where every participant would have and agree on the same information on the bonds real-time. However, the implementation of DLT was held back due its inherent security issue known as Byzantine Generals Problem (BGP). If 50% or more of the participants fell off the grid or turned rogue, the information on the DLT couldn’t be trusted to be immutable any longer. “Bit Gold” proposed by Nick Szabo first attempted to overcome this problem by proposing a decentralized currency based on “computing a string of bits from a string of challenge bits”, introducing innovative concepts like “proof of work (PoW) function” and “client puzzle function”. This, along with the consensus mechanism of having at least 50% of participants or nodes to agree on the longest chain with the highest cumulative PoW as the only legitimate version of truth, helped overcome the BGP problem in a decentralized network. While Bit Gold never went live, it became the precursor to arguably the most seismic tech invention in recent times “Bitcoin”, proposed by Satoshi Nakamoto. Bitcoin improved on Bit Gold and was also able to solve the problem of double-spending. Double-spending is the act of easily copying and reusing the same currency twice, without the presence of a central authority to decide whether a coin has been spent more than one time by the same person or participant. This was achieved by implementing distributed peer-to-peer timestamp servers, which generate computational proof for the chronological order of transactions stored in a chain of blocks called the Blockchain which forms the ledger or the database of the network.\nWhile, Bitcoin presented a distributed ledger technology which could be reliably used for “transfer and store of value” in a decentralized, immutable, transparent and reliable manner, it could neither automate the payment & settlement process and hence, disintermediating the bond issuance process, thereby it near instantaneous. This final hurdle can now be solved with the introduction and evolution of the ‘Smart Contracts” technology pioneered by Ethereum.\nUsing this technology, Blockchain can finally help in removing or at least deleveraging the multiple intermediaries in the bond ecosystem by automating the bond contracts between the producers and the end consumers in the value chain. Smart contracts can also help with tokenization of bonds. These Bond Tokens possess the unique characteristic of embodying both the ownership as well as value of the bond in a single construct, without the need for a central authority to record and prove the ownership. Tokenization can also help in fractional ownership of bonds, allowing them to be traded directly in much smaller denominations, without the need for an investor to take the mutual fund route. This will enable mass-adoption of bonds as well as solve the problem of illiquidity in the secondary bond market.\nThe stage is set. The technology, infrastructure, know-how, everything is set. For the ultimate revolution in the bond market to begin, only thing it needs is regulatory openness and willingness to take the plunge.",
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saswat99received 0.001 SP curation reward for @marcybetancourt / ganadores-4to-concurso-predicciones-de-partidos-de-futbol-esp-winners-4th-contest-football-match-predictions-eng
2021/03/23 00:36:42
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saswat99followed @amitsharma
2021/03/16 05:56:33
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}saswat99upvoted (100.00%) @bestofindia / best-of-india-vision-proof-of-dedication-and-its-economy2021/03/16 05:51:06
saswat99upvoted (100.00%) @bestofindia / best-of-india-vision-proof-of-dedication-and-its-economy
2021/03/16 05:51:06
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}saswat99upvoted (100.00%) @davidjones8904 / internet-of-things-the-future-of-technology2021/03/16 05:48:09
saswat99upvoted (100.00%) @davidjones8904 / internet-of-things-the-future-of-technology
2021/03/16 05:48:09
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}saswat99upvoted (100.00%) @jondoe / stable-coin-inflows-suggest-btc-has-ample-room-to-run2021/03/15 11:02:21
saswat99upvoted (100.00%) @jondoe / stable-coin-inflows-suggest-btc-has-ample-room-to-run
2021/03/15 11:02:21
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2021/03/15 11:00:18
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}saswat99upvoted (100.00%) @jrcornel / btc-has-the-right-setup-for-a-violent-move-higher2021/03/15 10:56:18
saswat99upvoted (100.00%) @jrcornel / btc-has-the-right-setup-for-a-violent-move-higher
2021/03/15 10:56:18
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}beemenginesent 0.001 STEEM to @saswat99- "🚀 Auto Promoting Your New Posts 24/24. Community Curation, Passive Earnings & Support. Checkout http://beemengine.live"2021/03/15 10:49:18
beemenginesent 0.001 STEEM to @saswat99- "🚀 Auto Promoting Your New Posts 24/24. Community Curation, Passive Earnings & Support. Checkout http://beemengine.live"
2021/03/15 10:49:18
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2021/03/15 10:49:00
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2021/03/15 10:48:15
| parent author | jrcornel |
| parent permlink | coinbase-is-running-out-of-bitcoin-to-sell |
| author | saswat99 |
| permlink | qq0bcf |
| title | |
| body | Feels we are a ways from the top, but the remaining journey isn't going to be as smooth as it's been till now in the last one year. Institutional adoption is the only driving force remaining in the sails of BTC, till atleast the next halving of mining rewards 3 years from now. |
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}saswat99upvoted (100.00%) @jrcornel / coinbase-is-running-out-of-bitcoin-to-sell2021/03/15 10:45:21
saswat99upvoted (100.00%) @jrcornel / coinbase-is-running-out-of-bitcoin-to-sell
2021/03/15 10:45:21
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}saswat99upvoted (100.00%) @saswat99 / its-time-to-put-pow-proof-of-work-to-bed2021/03/15 10:43:45
saswat99upvoted (100.00%) @saswat99 / its-time-to-put-pow-proof-of-work-to-bed
2021/03/15 10:43:45
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}saswat99upvoted (100.00%) @alokkumar121 / steemscan-easy-and-fast-steem-convesrion-to-tron-usdt-or-btc2021/03/15 06:12:42
saswat99upvoted (100.00%) @alokkumar121 / steemscan-easy-and-fast-steem-convesrion-to-tron-usdt-or-btc
2021/03/15 06:12:42
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}saswat99upvoted (100.00%) @kamranrkploy / the-beast-from-my-garage-in-asphalt-92021/03/13 05:38:00
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2021/03/13 05:38:00
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"weight": 10000
}
]
}2021/03/13 05:24:15
2021/03/13 05:24:15
| voter | saswat99 |
| author | bestofindia |
| permlink | my-favourite-tv-show-contest-2021-or-best-of-india-contest-or-contest-on-steemit |
| weight | 10000 (100.00%) |
| Transaction Info | Block #51960710/Trx 7a0f4209ef77a892478d3231eb5d2affb9eceb16 |
View Raw JSON Data
{
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}saswat99upvoted (100.00%) @steemitfoods / 11-03-2021-or-the-best-steemfoods-posts-of-the-day-or2021/03/13 04:51:00
saswat99upvoted (100.00%) @steemitfoods / 11-03-2021-or-the-best-steemfoods-posts-of-the-day-or
2021/03/13 04:51:00
| voter | saswat99 |
| author | steemitfoods |
| permlink | 11-03-2021-or-the-best-steemfoods-posts-of-the-day-or |
| weight | 10000 (100.00%) |
| Transaction Info | Block #51960049/Trx 4c7c4063aac3cf5ee94f0a6782c2e1981cfc12bc |
View Raw JSON Data
{
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]
}2021/02/19 14:41:06
2021/02/19 14:41:06
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 28446.512102 VESTS |
| Transaction Info | Block #51350733/Trx a61af94d4d243a35f230906926611083ef3364ae |
View Raw JSON Data
{
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{
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]
}saswat99custom json: notify2021/01/27 05:34:18
saswat99custom json: notify
2021/01/27 05:34:18
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | notify |
| json | ["setLastRead",{"date":"2021-01-27T05:34:17"}] |
| Transaction Info | Block #50685345/Trx 0a1f7ed33c4caa115b8ee22a34f3962ff0faa4bb |
View Raw JSON Data
{
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}
]
}2020/12/22 01:20:24
2020/12/22 01:20:24
| delegator | steem |
| delegatee | saswat99 |
| vesting shares | 28636.227332 VESTS |
| Transaction Info | Block #49655424/Trx 2854a9c072260cfe25a25b599af7dcbb13b72c6d |
View Raw JSON Data
{
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]
}2020/12/15 04:40:27
2020/12/15 04:40:27
| voter | saswat99 |
| author | joelagbo |
| permlink | can-total-anonymity-be-a-feature-of-a-widely-accepted-cryptocurrency |
| weight | 10000 (100.00%) |
| Transaction Info | Block #49460693/Trx 9ebad757a3a93440c1a20eb77055949f4f12651f |
View Raw JSON Data
{
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]
}saswat99custom json: community2020/12/14 12:32:42
saswat99custom json: community
2020/12/14 12:32:42
| required auths | [] |
| required posting auths | ["saswat99"] |
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| Transaction Info | Block #49441691/Trx 3678eae59eb0f94dc92bce280593f8771d83a972 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:32:30
saswat99custom json: community
2020/12/14 12:32:30
| required auths | [] |
| required posting auths | ["saswat99"] |
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| Transaction Info | Block #49441687/Trx ccfa3f3633ad0ad5c4a5340b898b7f4c81b66ff7 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:32:27
saswat99custom json: community
2020/12/14 12:32:27
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-184437"}] |
| Transaction Info | Block #49441686/Trx d68336e0cd4207dab75765450cdef3e255890ebc |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:32:24
saswat99custom json: community
2020/12/14 12:32:24
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-162337"}] |
| Transaction Info | Block #49441685/Trx 08a22aa829f722fdd9f13e79d0e82deb10b0df6d |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:32:12
saswat99custom json: community
2020/12/14 12:32:12
| required auths | [] |
| required posting auths | ["saswat99"] |
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| Transaction Info | Block #49441681/Trx 716b2651c7e371b76e3ac832bfe0d47c969ef1fc |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:31:54
saswat99custom json: community
2020/12/14 12:31:54
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-166960"}] |
| Transaction Info | Block #49441676/Trx e354bd54f629edab2643a8abf36c358e2dffae0d |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:31:48
saswat99custom json: community
2020/12/14 12:31:48
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-101690"}] |
| Transaction Info | Block #49441674/Trx 4c25c6d289034b2af01e9c5197858008e153302f |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:31:39
saswat99custom json: community
2020/12/14 12:31:39
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-184373"}] |
| Transaction Info | Block #49441671/Trx f06ee8764b3f6159a560e64aa3effe8b743a3c14 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:31:06
saswat99custom json: community
2020/12/14 12:31:06
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-128138"}] |
| Transaction Info | Block #49441660/Trx 78f53652fa2b3d966a41fce4dfed7e6bae41b363 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:31:00
saswat99custom json: community
2020/12/14 12:31:00
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-196037"}] |
| Transaction Info | Block #49441658/Trx 6711cb2cf979ac3c7ea5e91af7afde8666547ebe |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:54
saswat99custom json: community
2020/12/14 12:30:54
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-198058"}] |
| Transaction Info | Block #49441656/Trx 9b3f4cdc0a88dc0cc4d0747b340f5dae0130919b |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:45
saswat99custom json: community
2020/12/14 12:30:45
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-130734"}] |
| Transaction Info | Block #49441653/Trx 6e9c2820f7a4ab1124d542b792aa1ff62de939c3 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:45
saswat99custom json: community
2020/12/14 12:30:45
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-148441"}] |
| Transaction Info | Block #49441653/Trx 0696b6658a6f7984878f7919bf4d35942ad5a01f |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:33
saswat99custom json: community
2020/12/14 12:30:33
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-111825"}] |
| Transaction Info | Block #49441649/Trx 99376b74202f8796b094bb8445c8776f44231694 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:15
saswat99custom json: community
2020/12/14 12:30:15
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-175254"}] |
| Transaction Info | Block #49441644/Trx 4bd86fda0679ddd0d30f0c2e9b6871e5ac49e803 |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:06
saswat99custom json: community
2020/12/14 12:30:06
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-148497"}] |
| Transaction Info | Block #49441642/Trx 0619b6c2aa5b873efb86fa9850ad3690ecf1408d |
View Raw JSON Data
{
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}saswat99custom json: community2020/12/14 12:30:00
saswat99custom json: community
2020/12/14 12:30:00
| required auths | [] |
| required posting auths | ["saswat99"] |
| id | community |
| json | ["subscribe",{"community":"hive-196725"}] |
| Transaction Info | Block #49441640/Trx 721d27529bfb0af037c5f25d271d983c99f8748e |
View Raw JSON Data
{
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}saswat99updated their account properties2020/12/11 10:21:39
saswat99updated their account properties
2020/12/11 10:21:39
| account | saswat99 |
| json metadata | |
| posting json metadata | {"profile":{"profile_image":"https://cdn.steemitimages.com/DQmcQadFJQWbcunzg5dsQ5faA8xTTu9p5scjUA1cjYavQBX/Photo-Saswat.png","cover_image":"https://cdn.steemitimages.com/DQmZ5KTtroAP395RNJLe9FbRKz8Qj2WzxUtjWynJQfPciLA/Manchester_United_wallpaper_with_logo_1920x1200.jpg","name":"Saswat Das","about":"Enginner. MBA. Husband. Banker. Blockchain Enthusiast. Aspiring Writer & Blogger","location":"Bangalore","website":"https://www.linkedin.com/in/saswat-das-37341361/","version":2}} |
| extensions | [] |
| Transaction Info | Block #49354279/Trx f045616c1b3cf7fd2971c6e0ea5d97adc437c88a |
View Raw JSON Data
{
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"timestamp": "2020-12-11T10:21:39",
"op": [
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{
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}saswat99published a new post: its-time-to-put-pow-proof-of-work-to-bed2020/12/11 10:14:57
saswat99published a new post: its-time-to-put-pow-proof-of-work-to-bed
2020/12/11 10:14:57
| parent author | |
| parent permlink | blockchain |
| author | saswat99 |
| permlink | its-time-to-put-pow-proof-of-work-to-bed |
| title | Its time to put PoW (Proof-of-Work) to bed! |
| body |  Simply put, Proof of Work is the first, and arguably the most robust and secure, consensus mechanism that first grabbed the world's attention in the last decade with the sky-rocketing popularity of the mega-star of the crypto world 'Bitcoin'. With a market cap of close to USD 350 Billion out of a total estimated crypto-market cap of USD 555 Billion, at the time of writing as per coinmarketcap.com, Bitcoin is the undisputed star attraction of the brave new world of cryptocurrency and DeFi. PoW has had a big hand to play in this, by giving the anonymous and trustless world of crypto, the very important attributes of trust, security and credibility, that we value so much, when dealing with our hard-earned money. It has pulled Bitcoin, and as an extension the whole of crypto, from its cocoon of arcane and mystery, to the legitimacy and dependability of real-world, mainstream economics. But in this world of belatedly increasing awareness of the global environmental crisis, has the computationally dense and power-guzzling PoW mechanism overstayed its welcome? Proof of Work is a consensus mechanism used to build trust in the anonymous world of crypto. Each new block or addition of value in a blockchain, which creates the immutable history of all the transactions happening in bitcoin all over the world in a distributed ledger, has to be validated by this mechanism. This ledger hasn't been hacked even once, even in this terrifying new world of quantum computing. Why is that? Simply because it is almost impossible to replicate the amount of computational energy required by PoW for each block formation, in an attack that would additionally require more than 51% of the millions of nodes/participants to collude and use unfathomable amount of computational power to regenerate each proceeding block, from the block of first change, within a short time frame of 10 mins. PoW is what gives crypto its trust, immutability and transparency, unseen in the world of legacy finance and world economics, which is still dependent on gargantuan behemoths like banks and central banks to provide that.  However, in order to achieve this PoW, just the Bitcoin blockchain uses around 0.2% of total global energy, while the value share of Bitcoin in the Total Global Economy stands at 0.002%. This is simply untenable if bitcoin and crypto-currency has to become truly mainstream and realize its full potential of making wealth truly democratic, equitable and accessible to all. No more concentration of power, wealth and influence in the hands of a select few. Besides being as far away from being "Green", as anything I can think of, PoW has also become the biggest roadblock in crypto achieving its aforementioned goal. When bitcoin was just another new fad for the adventurous and tech-savvy millennials in the early 2010s, anyone with a decent GPU on his PC could download the bitcoin client and participate in mining Bitcoins, thereby earning bitcoins as mining rewards. That was when the no. of nodes on the bitcoin network was in a few hundreds and the total computational power required by PoW was still within the reach of the common man, so to speak. Now with the computational power requirements in the network for mining having risen exponentially, PoW has given rise to centralization, the very nemesis blockchain set out to conquer. It has given birth to mining pools; massive mining farms with thousands of ASICs, accompanied by endless cooling towers, all lined up to do only one thing; keep computing the hash gazillion times till the PoW for a block is complete. This has taken mining out of the reach of the common man or cybergeek, piggy-backing on whom bitcoin became the behemoth it is today. This has led to a handful of entities spread across the US, Europe and China having close to a monopoly on bitcoin mining and hence the entire network. Profitability provided by the economies of scale that these mining pools enjoy has made centralization inevitable. These issues have not gone unnoticed by the crypto-community. Pioneers in the field have dabbled with consensus mechanisms like Proof-of-Stake, Proof-of-Use, Proof-of-Elapsed Time, Proof-of-Authority, and many more. Ethereum 2.0, the blockchain with Ether as its native currency, the second most valuable cryptocurrency after Bitcoin, is moving into PoS from PoW in the near future, for example. However, we as a community of forward-thinkers have yet to come up with a consensus mechanism which marries the security and reliability of PoW while shunning its tendencies of centralization and incomprehensible wastage of electrical power. Yet, we cannot wait for a panacea of consensus mechanism to magically appear, for us to finally do away with the expensive and increasingly morally-hazardous PoW. It has overstayed its welcome and has to go now. Bitcoin, with the headstart it has had and the network effect that has eventually kicked in, will remain the leader and most-valued crypto for the foreseeable future. Hence, the onus is on it to lead us into the unknown but exciting new future. The relative centralization of the network should work in its favour by making quicker decision-making possible. It should shun PoW in favour of a new consensus mechanism, which is more in tune with the realities of the new decade. |
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"title": "Its time to put PoW (Proof-of-Work) to bed!",
"body": "\nSimply put, Proof of Work is the first, and arguably the most robust and secure, consensus mechanism that first grabbed the world's attention in the last decade with the sky-rocketing popularity of the mega-star of the crypto world 'Bitcoin'. With a market cap of close to USD 350 Billion out of a total estimated crypto-market cap of USD 555 Billion, at the time of writing as per coinmarketcap.com, Bitcoin is the undisputed star attraction of the brave new world of cryptocurrency and DeFi. PoW has had a big hand to play in this, by giving the anonymous and trustless world of crypto, the very important attributes of trust, security and credibility, that we value so much, when dealing with our hard-earned money. It has pulled Bitcoin, and as an extension the whole of crypto, from its cocoon of arcane and mystery, to the legitimacy and dependability of real-world, mainstream economics. But in this world of belatedly increasing awareness of the global environmental crisis, has the computationally dense and power-guzzling PoW mechanism overstayed its welcome?\n\nProof of Work is a consensus mechanism used to build trust in the anonymous world of crypto. Each new block or addition of value in a blockchain, which creates the immutable history of all the transactions happening in bitcoin all over the world in a distributed ledger, has to be validated by this mechanism. This ledger hasn't been hacked even once, even in this terrifying new world of quantum computing. Why is that? Simply because it is almost impossible to replicate the amount of computational energy required by PoW for each block formation, in an attack that would additionally require more than 51% of the millions of nodes/participants to collude and use unfathomable amount of computational power to regenerate each proceeding block, from the block of first change, within a short time frame of 10 mins. PoW is what gives crypto its trust, immutability and transparency, unseen in the world of legacy finance and world economics, which is still dependent on gargantuan behemoths like banks and central banks to provide that.\n\n\n\nHowever, in order to achieve this PoW, just the Bitcoin blockchain uses around 0.2% of total global energy, while the value share of Bitcoin in the Total Global Economy stands at 0.002%. This is simply untenable if bitcoin and crypto-currency has to become truly mainstream and realize its full potential of making wealth truly democratic, equitable and accessible to all. No more concentration of power, wealth and influence in the hands of a select few.\n\nBesides being as far away from being \"Green\", as anything I can think of, PoW has also become the biggest roadblock in crypto achieving its aforementioned goal. When bitcoin was just another new fad for the adventurous and tech-savvy millennials in the early 2010s, anyone with a decent GPU on his PC could download the bitcoin client and participate in mining Bitcoins, thereby earning bitcoins as mining rewards. That was when the no. of nodes on the bitcoin network was in a few hundreds and the total computational power required by PoW was still within the reach of the common man, so to speak. Now with the computational power requirements in the network for mining having risen exponentially, PoW has given rise to centralization, the very nemesis blockchain set out to conquer. It has given birth to mining pools; massive mining farms with thousands of ASICs, accompanied by endless cooling towers, all lined up to do only one thing; keep computing the hash gazillion times till the PoW for a block is complete. This has taken mining out of the reach of the common man or cybergeek, piggy-backing on whom bitcoin became the behemoth it is today. This has led to a handful of entities spread across the US, Europe and China having close to a monopoly on bitcoin mining and hence the entire network. Profitability provided by the economies of scale that these mining pools enjoy has made centralization inevitable.\n\nThese issues have not gone unnoticed by the crypto-community. Pioneers in the field have dabbled with consensus mechanisms like Proof-of-Stake, Proof-of-Use, Proof-of-Elapsed Time, Proof-of-Authority, and many more. Ethereum 2.0, the blockchain with Ether as its native currency, the second most valuable cryptocurrency after Bitcoin, is moving into PoS from PoW in the near future, for example. However, we as a community of forward-thinkers have yet to come up with a consensus mechanism which marries the security and reliability of PoW while shunning its tendencies of centralization and incomprehensible wastage of electrical power. Yet, we cannot wait for a panacea of consensus mechanism to magically appear, for us to finally do away with the expensive and increasingly morally-hazardous PoW. It has overstayed its welcome and has to go now.\n\nBitcoin, with the headstart it has had and the network effect that has eventually kicked in, will remain the leader and most-valued crypto for the foreseeable future. Hence, the onus is on it to lead us into the unknown but exciting new future. The relative centralization of the network should work in its favour by making quicker decision-making possible. It should shun PoW in favour of a new consensus mechanism, which is more in tune with the realities of the new decade.",
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}2020/10/25 17:17:39
2020/10/25 17:17:39
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}saswat99upvoted (100.00%) @steemchiller / steemchiller-goes-witness-let-s-make-steem-safe-again2020/10/25 07:37:42
saswat99upvoted (100.00%) @steemchiller / steemchiller-goes-witness-let-s-make-steem-safe-again
2020/10/25 07:37:42
| voter | saswat99 |
| author | steemchiller |
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}executive-boardsent 0.001 STEEM to @saswat99- "❗ Hello saswat99, welcome to the STEEM ecosystem. The Executive Board hereby invites you to https://discord.gg/KyBbmhh where you will get some insider infos on how you will earn the most coins. It's e..."2020/10/25 07:31:03
executive-boardsent 0.001 STEEM to @saswat99- "❗ Hello saswat99, welcome to the STEEM ecosystem. The Executive Board hereby invites you to https://discord.gg/KyBbmhh where you will get some insider infos on how you will earn the most coins. It's e..."
2020/10/25 07:31:03
| from | executive-board |
| to | saswat99 |
| amount | 0.001 STEEM |
| memo | ❗ Hello saswat99, welcome to the STEEM ecosystem. The Executive Board hereby invites you to https://discord.gg/KyBbmhh where you will get some insider infos on how you will earn the most coins. It's easy, just follow the instructions. Warm regards, The Executive Board. |
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}2020/10/25 07:29:57
2020/10/25 07:29:57
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2020/10/25 07:29:57
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[]