The following proposal is a new concept that we are considering for the Proton Blockchain, which could have significant benefits for longer term token holders. We’ve fleshed out the contract mechanics, and a potential user interface within Bloks.io, and we’re opening it up to the community for comment and suggestions. It would need to be voted in by 15/21 Block Producers to be entered into the chain.
In Delegated Proof of Stake systems such as Proton (but equivalently on Tezos, Cosmos and EOS), selection of block producers and hence security of the chain is done by rewarding longer term holders (stakers) with inflation block rewards. …
The Proton Blockchain is built on a delegated Proof of Stake model. What this means is that each Proton token holder can vote with their tokens, and in exchange for their vote, they receive inflation rewards (and other rewards) that are sent to the Staking Pool. Essentially the Proton token holders control the protocol, and they benefit if and when the Protocol gains adoption.
Let’s dive in deeper
As this screenshot shows, you can stake your Proton coins directly in the IOS Proton wallet. You can download the wallet here. When you stake your coins, they are essentially “locked” for 2 weeks. …
The first open source, proof of concept demo of voting on the blockchain
We’ve built a fully working, open source demo of a presidential election running on the Proton Blockchain. You can try the demo here
Here’s how the voting works:
1. First step, you log in with your blockchain authenticated ID. In Proton, this is an @name, similar to a Twitter @name. Mine is @fred. Each @name has a public and private key pair associated with it. This key pair is created and stored on your mobile wallet. You can download one here.
2. Second step, you need to verify your ID to see if you are eligible to vote. To do this you submit a Drivers License and pass a Liveness Test. Ideally you would use a software such as persona for this, combined with manual review to see if you qualify. Proton chain is architected to store this KYC info on chain, which could help in the process, but there certainly would be a manual component. …
First we had the “Dollar Milkshake” theory, and now @Raoul Pal brings us the “Bitcoin Lifeboat” theory. Let’s unpack!.
1. Let’s start with the realization that Central Bank Digital Currencies are coming. It’s no longer a question of if, but a question of when. Raoul predicts 5 years. I am going to say 10, at least here in the US, as I think the Fed will take a measured approach. But CBDC is coming.
2. Now, how does this impact investments? Well as Raoul points, out, once you have a digital currency, where actual individuals have wallets that can accept that digital currency, then you have the power to deposit funds directly into people’s wallets, bypassing banks altogether. …
Let’s first note that although there are plenty of DAO voting apps, including voting for block producers on Proton, EOS and other chains, this DOES NOT solve the problem, as all votes are public.
So let’s set down the requirements for blockchain voting
1. Voting needs to be limited to a set of QUALIFIED voters for each vote. For example, I should be able to vote in California, but not Texas.
2. Identity of voters needs to confirmed in the process. …
- you put a code snippet on your website
- you can get paid in either cash or stable-coins
Now imagine that, but without any credit cards ever being transmitted.
On the surface, it almost seems impossible. But it’s actually completely clear. It’s like stripe but without passing the credit card. The power of the @name, pending payments, and the proton blockchain that keeps the state of it — in a way that preserves privacy.
You will be able to use this DAY 1 on any site that accepts payments. Any e-commerce site. Any game. Any app. …
Currently, the world is distracted by 2,000 whales “yield farming” on a broken blockchain (ETH) with 5 minute transaction times and $10 gas fees. But that’s not the core problem.
1. you want to build an app or a website that has something to sell, for example, an NFT, or a VIP level which gives you access to a special website, or an hour of your time, or a T shirt..
2. You want to price this thing in USD or EURO. Not some crazy crypto like WAX or ETH
3. You want to take payment in crypto and it’s got to be extremely fast and reliable. …
We’ve made some massive breakthroughs over the last few weeks, and we want to share how things are looking now, and what to expect.
The first thing is we have now ESR (EOSIO signing request) working beautifully on IOS. This means that you can now connect to an external application (the first patient being bloks.io) and proceed as follows
This works beautifully on both desktop and mobile. There is an intermediate solution for Android, but soon both IOS and Android will function in the same way. …
I’m not going to go into my track record. It’s long, but the bottom line is I have had 9 exits that are fully cashed out, 2 failures, and my bet is now on my final startup, Metal which I am taking a taking a “coach” role to the supremely talented Marshall Hayner on.
Here’s the take-aways (updated for 2020)
1. Don’t start something you are not completely passionate about. I started an online shoe company in 2009 just because “it seemed like a hot area”. I had zero interest in women’s shoes. I failed. Meanwhile, a friend (not a close friend, but lets just say a friend), created Jimmy Choo and sold it for a small fortune. She cared about shoes. …
As we revealed yesterday, we have partnered with MasterCard to issue debit cards in the US and EU. This is the NUMBER ONE FEATURE REQUEST from our Metal Users. And it’s going to be even more critical as we roll out Metal Pay 3. So let’s dive in.
The first and most important thing is actually buying your first crypto. As we now know, this is a HUGE HURDLE for most people on the street. Ask any of your non-crypto friends. They have literally NO IDEA. You can’t buy it at your bank. You can’t buy it at Schwab. You can’t buy it on AMEX. …