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      "author": "steemitboard",
      "permlink": "steemitboard-notify-sleek-20190614t163254000z",
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      "body": "Congratulations @sleek! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@sleek/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@sleek) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=sleek)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @sleek! You have received a personal award!\n\n[![](https://steemitimages.com/70x70/http://steemitboard.com/@sleek/birthday1.png)](http://steemitboard.com/@sleek)  1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the [last post](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-portugal-vs-spain) from @steemitboard!**\n\n---\n**Participate in the [SteemitBoard World Cup Contest](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-collect-badges-and-win-free-sbd)!**\nCollect World Cup badges and win free SBD\nSupport the Gold Sponsors of the contest: [@good-karma](https://v2.steemconnect.com/sign/account-witness-vote?witness=good-karma&approve=1) and [@lukestokes](https://v2.steemconnect.com/sign/account-witness-vote?witness=lukestokes.mhth&approve=1)\n\n---\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "parent_permlink": "seele",
      "author": "sleek",
      "permlink": "analysis-of-seele-whitepaper-not-just-a-blockchain-but-a-new-value-internet",
      "title": "Analysis of Seele Whitepaper - not just a blockchain, but a new \"Value internet\"",
      "body": "**Seele ICO**\nAnother Chinese blockchain. It seems to be the hot thing right now. The demand is there and we will be having a deeper look. \n\n\nDespite this I am willing to look this over and delve deeper into the tech. Is the project something viable? There were some concerns raised in their telegram and how the team responded\n\n\n**WHAT ON EARTH IS THE HETEROGENOUS FOREST NETWORK!?**\nHow many fancy words can you use to describe this? It sounds quite ridiculous to be honest when i first read it. However let's dive in further. \n\n- The head chain is the \"Meta chain\" and each sub-chain serves as a separate blockchain or fork to serve other processes, but sharing the same libraries and basecode. This is the essence of the forest network, allowing blockchains 1.0, 2.0, 3.0 to interact. \n\n- This means unlimited chains and projects can be made from the Seele meta-chain. It also means that any bugs that can affect all systems be repaired quickly. It seems to me that the end marketing goal is to allow business, or industries to employ Seele subchains for their own industries or requirements. \n\n- So in a way it is like other blockchain project Achain or potentially other blockchain projects that offer blockchain-as-a-service but using newer technologies to achieve consensus. this talk of trees and forests almost parallels a Windows Multi-Server architecture, where an organisation splits its servers into Mail servers, web servers, database servers, etc  and was probably a inspiration for these creators. \n\n- It is also a **naming system** YES. There have been many attempts to achieve DNS like services on traditional blockchain without much traction or success. As Seele is their own blockchain, the naming mechanism is part of the project. So instead of sending and receiving tokens from an address like *0x60EFdaC4f6DD5D2464ac1659e70aA1A61B6C9F43* you can send it to something like chain://sleek.wallet \n\n- With the new naming system, another http base protocol named vhttp is proposed as well as a QVIC protocol to replace HTTP. Basically *another internet*. The team claims they were able to reduce request and transmission rate delay by 70%-500% using a 1GB file transfer on a 50 machine network. I believe this claim but this was just a linear 1GB file transfer and there were no reports on putting the network in real world stress test scenarious. It is promising tech if it is true though.\n\n- **Storage** Seele even want to get into Storage - think Dropbox, AWS but for crypto assets, not your personal files. So far it is only a proposition in the whitepaper with no Minimal Viable Product as yet.\n\n- **dApps** SeeleEditor will allow creation of dApps. SeeleEditor has not been released yet and its status is unknown. \n\n- ** Rewards ** I mean, this is all what we want to know right?  Rewards are given to LARGER and MORE STABLE (uptime0 nodes . Rewards are decreased over time. Also a percentage of transaction fees are awarded. Nodes don't need to do hashrate calculations, but just \"good network connetivity\". Rewards are higher if there are more transactions processed in a block as well.  Specific numbers were not given. \n\n\n\n**Technical stuff explained** (to my ability)\n- *Consensus requirements and speed*\nInstead of the traditional model of having a majority nodes vote for consensus, Seele claims to turn it into more or less a mathematical formula to be performed onchain. They have claimed on a network of 100,000 nodes, that the delay in transaction is \"delayed to several seconds\".  The more modes, the faster the network.\n\n- *How?*\nIt looks like consensus will be done in some sort of parallel manner,  and not employing PoW or PoS. They will be minimising nodes required to confirm transactions. This may put the network at risk of a 51% attack. \n\n- *Compatibility between chains*\nSeele promises interoperability between chains including DAG chains and PoW/PoS chains. Big, big ambitions. \n\n- *Sybil attack mitigation*\nMitigation is achieved by randomly selected nodes execute calculations using their private key and a publicly broadcasted formula/function. It is innovative but I would like to know how they can guarantee the broadcasted formula is authenticated. \n\n- *Fault tolerance*\nIf a large number of nodes are offline then more votes are simply required to achieve consensus. The limit is 33% of nodes offline.\n\n**Team**\n- *Dr Bi Wei* 8 Blockchain patents. [He is seems to be real](https://medium.com/seeletech/hot-discussion-of-blockchain-technology-during-davos-seele-has-collected-world-wide-attention-cff312f4b90a) , but I can't find much more info. \n- *Dr Gong Hui* \n\n** Roadmap**\nPublic launch of network is slated for Q4 2018. This is no flip if you are joining the ICO - it's a HODL. You may want to get a boatload post-ico as well if you want to run a node. [I thought the same for Zilliqa but that 10x'd on day one after launch](https://steemit.com/zilliqa/@sleek/zilliqa-whitepaper-review)\n\n**Community Concerns**\nThere have been concerns raised in the telegram chat and are being addressed by the team:\n\n*In response to:*\n**Lack of Github**\n- The team have promised to upload github files this week to https://github.com/seeleteam which just started. \n\n**Analysis of Github - a work in progress**\n- So far there have been some p2p files possibly related to the decentralised nature of the network\n- bit arrays seem to be used to compact data and improve speed of execution of code.\n- Github contributor qiaozhigang joined github in the last week of January 2018 and started to upload files. It may be that the Chinese don't use github so much as westernised teams. He is also listed in the whitepaper with 15 years of experience with computers. \n- Github contributor lucusfly, from Beijing, China has been a part of Github for a few years and seems to be one of the main devs. \n- Code imports Ethereum Go libraries, so its seems legitimate in its intention to using the smart contract ecosystem of  Ethereum. This is GOOD. \n- Ultimately we want more information as more code is released, but at least things are happening and the team is responsive. \n\nSo is it a good project? YES the team seems strong but i feel the price will not truly go up until end of the year. this is a more of a set and forget coin. Hope this lessens confusion!",
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      "body": "zilliqa mooned to almost 20x on day 1 and is now chilling at 10x. The hype is REAL on zilliqa. So keep an eye on future sharding projects.",
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      "body": "@@ -57,46 +57,51 @@\n qa/@\n-icowolf/zilliqa-zil-listed-on-exchange\n+bernardmadoff/etherdelta-listed-zilliqa-zil\n %0A%0A!%5B\n",
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      "body": "Zilliqa is listed. Trade now \n\nhttps://steemit.com/zilliqa/@icowolf/zilliqa-zil-listed-on-exchange\n\n![giphy.gif](https://steemitimages.com/DQmeoBHcG77Ut3tESYyDG32wdkyNdYbs7PG8Q73ZcLHHEoa/giphy.gif)",
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      "title": "Zilliqa Whitepaper Review",
      "body": "**My Background**\nComputer Science degree, and skeptic of ICOs - I am also lazy - - so I invest in ICOs for long term or a flip if I have time to do that.  These are my thoughts on the TECHNOLOGY behind Zilliqa. Their ICO details have not been released at the time of writing. I'll post my ICO thoughts later but the only information known is that there is 20 BILLION ZIL tokens up for grabs. That's right. A huge amount. Below is a technical summary of the whitepaper and my thoughts on it. \n\n**ZILLIQA (ZIL)**\n![](https://steemitimages.com/DQmQWxDdKK75GNXuUjCvHmD2YMhMJnNS3cUvfAG7eR3TKih/image.png)\n\n**Elevator Pitch**\n*Zilliqa is the world's first high-throughput public blockchain platform - designed to scale to thousands ​of transactions per second.*\n\n\n\n**Current Status**\n- There have been claims of 1000+ transactions per second with their private test using Amazon Web Server accounts. \n- Testnet coming end of this year, which is by their own estimates an ambitious goal\n\n**WHY IS ZILLIQA UNIQUE FROM EXISTING BLOCKCHAINS**\n- As nodes increases, the speed of the network increases. This is achieved by dividing up blockchain data and processing it AT THE SAME TIME by all the nodes. This is known as *sharding*\n- The Zilliqa network is divided into two separate blockchains to streamline work. \n1. DS-Blockchain - holding miners\n1. TX-Blockchain - ledger\n- They have already claimed to have a private network working using AWS, which is ahead of the other technologies it borrows. We don't know if the claim is true or not. \n\n**Slack Channel**\nAs of Oct 25th 2017, the channel has about 1100 members. \n\n\n**What is the upper limit of scalability?** This was answered on their Slack channel \n*In theory, throughput in Zilliqa increases with the increase in the number of nodes. However, in practice, if the network size grows really large say 1 million nodes, then broadcast becomes an issue. Hence, in practice, there is a sweet spot until which the throughput can linearly increase before running into broadcast bottleneck. We are still running experiments to know that sweet spot.*\nPosted in #generalOct 22nd at 7:23 PM\n\n** Team **\nThe team seem very responsive on slack and can answer all questions tech related. I haven't done in-depth research per member yet. \n\n**Concerns that the team want to eventually resolve**\n- Finding a secure PoS method of running zilliqa on. There currently does not exist a secure PoS way of running a blockchain\n- Cross-Chain linking blockchains. Zilliqa will aim to integrate multiple blockchains\n- Eventual bottlenecks: All nodes need a common virtual memory space to interact, and all nodes will be constantly updating the global values.. which will lead to bottlenecks. Zilliqa will need to find to sort these out before they actually become a problem as the system scales. \n\n**My thoughts**\nIt's a very promising tech and I got a feeling that a lot of the new blockchain ICOs will be based on sharding - and a lot of the ICOs will compare themselves to bitcoin rather than to other projects such as EOS or IOTA. However we will need to wait until December until the code is released on Github. \n\n**Other future projects to keep an eye on, that Zilliqa borrowed ideas from**\nAt the moment the below are only whitepapers, but no doubt in the next few years we will see these come to fruition. Zilliqa has been working on this project for 2 years now and will soon deploy their testnet. \n- ByzCoin\n- Elastico\n- Bitcoin-NG\n- OmniLedger\n\nThe technology is amazing though! So keep your eyes peeled on it.",
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