What is the difference between ‘buy’ and ‘sell’ exchange

How my dorm became a drug superhighway.

The year was 2012, and we were all supposed to die in December. It was my freshman year of college. I was settling in quite well. I made friends with a bunch of people in our residence hall, we hit it off immediately. We started going out on the weekends, starting with thirsty Thursday, which turns out is actually a thing. I had more than one room mate. We lived in a four person suite with two bedrooms. I had a full ride to my University, so I had a lot of extra money to spend on my living arrangements and meal plan. Oh yeah, I was also a huge pothead.
I made friends with the dealer on my floor and started buying him extra meals in exchange for weed. That's when one of my room mates came to me with a proposition. He asked me if I knew what bitcoins were. I did not. He explained the virtual currency and how it worked. Then he really laid it all out. He told me that he had quite a lot of bitcoins and that he wants to get into selling weed. It all sounded great, but I wasn't sure what he needed me for. He then told me that he doesn't really talk to anyone and that he always sees me with people and going to parties every weekend. Okay, this makes sense. He told me how the operation would work, and it sounded swell. For the record, I was eighteen and very stupid. Anyway, he would purchase the drugs from the Silk Road, a dark website where you can buy literally fucking anything. Our friend Noah would then get the goods delivered to his apartment, which had a mailroom with hundreds of mailboxes. This was good because it would be just a little bit less suspicious, also his apartment was not on our campus. Then we'd package everything there and move it to our dorm, which had it's own security. We lived in North Philadelphia, so the security and police were always looking out for the students. After we safely had the products, I would find the buyers.
Our first shipment went well. We ordered a half pound of weed, a gram of hash, ten hits of LSD, a small bag of opium (for us), and 1000mg of Alprazolam extract for my room mate's personal anxiety treatment. We got into this business to become weed salesmen. That weed took forever to sell. Everyone who sold weed already had good connections from their hometowns. The LSD though, that sold in five fucking minutes to one buyer who was interested in buying much more than ten hits. He asked us if we could sell him a couple hundred tabs. He said he'd pay $350 for each sheet of 100. We looked at the price per sheet on the Silk Road. It would cost us only $80 each. Yes sir, we can absolutely sell you a couple sheets. We told him we'd call him when it arrived. Later that night we brewed some opium tea and celebrated entering the LSD business. We bought the sheets for him, and we also bought two extras in case anyone else wanted some.
The next shipment came with no problems. Our friend came over and bought the sheets we had promised him. We made nearly $800 on that deal. We thought that was a lot, so we celebrated. Later that same day, while smoking a blunt in our courtyard, I made friends with some art students. They invited me to their dorm on the third floor. I agreed, went with them, and we listened to music and painted the walls of the dorm room which was super against the rules. They started talking about how they had taken magic mushrooms two weeks before and how it was life changing. I told them I had two-hundred hits of acid in my room. I've never seen people get so excited in my entire life. They bought all of it. They paid $400 for each sheet. Seemingly out of nowhere we made $600. Again, we thought this was a lot.
My room mate was really happy with my networking abilities. Dude, I was just getting high with some hipster art students. I didn't really possess the "networking skills" that everyone thought I had. We went online and purchased another five sheets. We started getting a bit more confident in our ability to sell this magic money making paper. That week I was in one of my classes and had to do a group project with a kid named Eddy. We went to his apartment to work on the project after class. Eddy had an apartment off campus because he was an upperclassman. On the way he asked if I smoked weed. Of course. He said he had something to show me. When we got there he showed me a small weed plant he was growing. It was an adorable little plant in a flower pot by the window. I asked if he needed any weed and he said that he did not. We smoked a bit and then her offered me a Xanax. I had never taken Xanax, so I googled the pill he offered me. Alprazolam. Huh, that's funny. I told him I had 1000mg of alprazolam in my room. This excited him.
I asked my room mate if he was willing to sell some of his private stash. Eddy only wanted to buy around 100 milligrams. He agreed and I brought Eddy to my dorm. We gave it to him for the cool price of $150, a slick markdown from what he was paying. After all we hadn't even planned on selling that stuff. He asked how we got it so cheap and if we could get anything else. We told him that we sell LSD. He said he loves hallucinogens and would love to purchase a sheet, so he did. Four sheets left. If we sell them, we can get a new and faster computer.
The weekend came and I was hanging out with two of my friends from our residence hall. Joe, who was really chill and loved smoking weed as much as I did. And Bianca, who was so cool that it frightened me. She was really intimidating. I had a huge crush on her, but she was "talking" to a kid that lived in Johnson and Hardwick hall. Bianca was the type of person you see in movies about cool kids doing cool things. A character who has a lot of depth, but it takes nearly the whole movie to slowly peel back the layers, and by that time you're in love. I told her if we sold the rest of our acid I'd buy her a new tattoo. She was covered in them. That night Joe was going to take us to his friend Jamie's house. We were going to try cocaine for the first time. I was terrified. Not only was I terrified about trying cocaine, but I was scared of doing it with Bianca. I just didn't know how I would act, and I didn't want to do something stupid.
We arrived at Jamie's house. Jamie was also intimidating. His house was what your typical trap house looked like at the time, with a bunch of really expensive music equipment. Everybody wanted to be a rapper or a D.J. that year. He introduced all his friends and offered us lines of coke. Here we go. Joe went first, he'd already done some before. Bianca went next without hesitation. Now it was my turn. I remember my hand shaking with the rolled up bill between my fingers. I chose the smallest line and sniffed. It did not taste anything like I expected. Five minutes went by. Oh, this is what cocaine is like. It was so underwhelming. It was also some thoroughly stepped on shit. I know that now because since then I've done some foreign blow that literally almost made my heart stop. Anyway, Jamie and I got to talking, mostly about his "music career". Jamie told me if I ever wanted to buy cocaine in bulk to hit him up. I laughed and told him if he ever wanted to buy LSD in bulk to hit me up. I was half joking. He looked at me with the straightest face and asked if I was serious. Honestly, this Jamie guy really scared the shit out of me. He was a good ten inches taller than me and the whole scene was really starting to freak me out. I told him I was serious though. He told me to come with him.
He brought me into his room and closed the door. In the room it was quiet. The walls were sound proofed. I looked around and the room was full of money, cocaine, and guns. Okay, he's probably not going to kill me. I hope. He then asked about my LSD connection. I told him I could get sheets for $350. He said he wanted books. Books? This guy wants books? I didn't know this at the time, but a book is a thousand hits of LSD. I told him I had to talk to some people and I would let him know the price, but that I could definitely make it happen. We went back into the party and he gave me line after line of cocaine. Joe offered him money for the lines, but Jamie told him not to pay. He said your friend here bought you guys as much coke as you want for the night. Honestly, that made me feel really cool. After the party I talked to my room mate and told him what happened. We looked up the price of a book on the Silk Road. $300. Not only could we have saved a lot of money if we had just bought a book from the start, but we were going to make a lot more money selling by the book. The days of getting excited over $800 were about to come to an abrupt end.
I talked to Jamie and asked how much he would be willing to pay for each book. He said he would pay no more than $3000 for each book. We decided we would sell him the books for $2,800 each. He agreed and asked how many we had. I said we can start with five books. He agreed. This was perfect. Not only were we about to make more money than we had ever expected, but acid was incredibly easy to ship. They were basically sheets of paper. Our supplier used to send it to us in between the pages of large children's coloring books. The books, or prints, as our supplier called them, blended with the kid's books very well. Our prints consisted of a large picture of Bart Simpson, The Grateful Dead bears, and a double rainbow portrait. If you didn't know what acid was, you wouldn't know these were drugs. We made nearly $14,000 from that first deal.
Over the course of a few months we would sell close to thirty-thousand hits of LSD. We had $75,000 in cash sitting in an empty bedroom at Noah's apartment. I stopped going to class. My room mate had filled his entire room with computer parts and instruments. Noah, well we didn't really see him much, but he was always present when we needed a shipment. We broke our cardinal rule of not getting high on our own supply. We took a lot of acid that semester. It was an extremely enlightening period for us. Things in my world began to take on entirely new meaning. I had a newfound appreciation for things I had never noticed. The connections with my friends became very strong and we talked about a lot of stuff that was just too deep for my other peers to even scratch the surface of. It was nice.
By my birthday in February we had over $200,000 in cash. We didn't die in December, not that I thought we would, but some people were legitimately surprised. They were mostly art students. Things started getting a little crazy. My room mate and I were taking a lot of Xanax by this time and a lot of nights celebrating were never logged as memories. We always told ourselves we would only sell LSD. We had sparked a huge psychedelic scene in and around Philadelphia. There were literally parties where everyone was tripping acid. Many groups of people began taking acid and doing really creative stuff that I admired so much. So much good music and art was around during that period. I felt like I was living in San Fransisco in the middle 60's. It felt like we were part of this incredible scene that nobody outside of the city knew about. Of course every wave has to break and roll back.
It was getting close to the summer. I hadn't been to class in months. We hadn't seen Noah since the previous shipment about a month prior. It was a regular weekday, but I wasn't going to class, so I took two hits of acid. I spent most of that evening and night writing and yapping into my tape recorder. I was on the subject of togetherness and how there are so many things that are so incredible that we never notice even though they're right in front of us. Acid talk. I was looking at a glass of water, thinking about its importance, and how so many of us take it for granted. That's when my room mate came home. This was my room mate though. Remember, we had a two bedroom, four person suite. My room mate, who was never involved in our operation. He was obliterated, and not from alcohol. This was something else. He limped into the room and collapsed on the bed. I immediately got the rest of my room mates together. That's when Christian told me what transpired earlier while I was locked in the bedroom tripping acid. He told me that my room mate had broken up with his girlfriend, took an entire bottle of lorazepam, and tried to cut his leg open with my biology scalpel. What the fuck.
I examined his leg and he did not try to cut it open, he succeeded. He had a gigantic cut all the way down his lower leg that was fixed up by his father who is a surgeon. His father then brought him back to the dorm. The condition he was in was terrifying. He was breathing, but not well. His heart rate was also very low and we had to monitor him for the remainder of the night, taking shifts to make sure he didn't stop breathing. I couldn't believe his father had brought him back in the condition he was in. The next morning I was exhausted. My room mate and I, the one with the bitcoins, left and went to Noah's apartment to relax for an hour. While we were gone Bianca was to watch over him with her room mate. When we got to Noah's we had a new problem. Noah hadn't gotten out of bed for what looked like weeks. He had ran out of his antidepressants and was in bad shape. At this point I checked out. I walked into the living room and opened a bottle of champagne. I poured a glass, popped a Xanax, and sat on the sofa. I was still a little foggy from my acid trip and I hadn't slept all night. That's when my phone rang. It was Bianca.
I answered the phone and her first words were: "Your room is full of police.". Well, it's been a good run. On my desk were a couple thousand hits of LSD and a handgun. In the other bedroom were numerous unopened box's of expensive computer parts, scales and drug paraphernalia galore, and a large pile of white powdered alprazolam. That room also smelled heavily of weed because there was a half pound out in the open. We had gotten very sloppy. I asked her if my room mate was okay. She said that's why the police are there. She said his mom was trying to reach him and he wasn't answering her, so she called the police for a wellness check. Bianca then started talking to someone and hung up the phone.
We pondered whether or not to flee the country and become outlaws. We did after all have all the cash here at Noah's. Close to a million dollars. Maybe more. Because we were getting sloppy, we had also started selling hash, Xanax, LSD, 25i-NBOMe, 2c-b, 2c-i, 2c-E, Mescaline, cocaine, MDMA, MDA, LSA, clonazepam, ativan, and other various designer drugs. We were going down for a long time. I started thinking about my life. It literally was flashing before my eyes. I thought about my high school crush, and how I should have been more upfront with her about how much I liked her. I loved her. I thought about the time we slept in the same bed and I couldn't fall asleep because I couldn't believe she was really laying next to me. I remembered how I never wanted to wake up next to anyone else. I thought about my trivial crush on Bianca and how shallow it really was. I thought about my parents and how they'd raised me better. How they did so much for me so that I could go away to college and have a better life than they had. I thought about sitting on the beach last summer without a care in the world. The "problems" in my life that seemed hilarious now. Will I go to prom? Is my car cool enough? My k/d ratio in Call of Duty. How could so much happen in less than a year? That's when Bianca called me again.
I was terrified to pick up that phone. We looked outside to see if police were surrounding the apartment complex. They were not. I answered the phone. She said the police were gone. She had put my gun and LSD in my desk drawer. The police never entered the other bedroom. It was just a wellness check. An ambulance came and took my room mate. He was going to be okay. I hugged my partner in crime and we cried. I wish I could tell you we cleaned up our lives after that. My room mate with the bitcoins developed a really dangerous drug habit after that. He spent most of his money on drugs over the next few years. I went back to class after that summer, but stopped going again because I wanted to party instead and start a career as a writer. I failed out of college. Throughout the years I went on numerous adventures all around the world. I have hundreds of stories, I just have to write them. Oh and I have to learn how to write properly. I don't use a lot of drugs today, and I don't encourage people to use drugs. I have unfortunately lost many friends during the opiate epidemic. Weed is cool though, I like weed. I wouldn't tell people to smoke it, but I'll never shame someone for enjoying some cannabis. Actually, I don't really shame people for anything, it's just not my place to judge anyone. Feel free to judge me though, about how my dorm became a drug superhighway.

\*Thanks for reading, more stories available on my blog. There's a link on my profile.*

Edit: This story is based around actual events that I have experienced.
submitted by XleepyJoeBenzo to Drugs [link] [comments]

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

How my dorm became a drug superhighway.

The year was 2012, and we were all supposed to die in December. It was my freshman year of college. I was settling in quite well. I made friends with a bunch of people in our residence hall, we hit it off immediately. We started going out on the weekends, starting with thirsty Thursday, which turns out is actually a thing. I had more than one room mate. We lived in a four person suite with two bedrooms. I had a full ride to my University, so I had a lot of extra money to spend on my living arrangements and meal plan. Oh yeah, I was also a huge pothead.
I made friends with the dealer on my floor and started buying him extra meals in exchange for weed. That's when one of my room mates came to me with a proposition. He asked me if I knew what bitcoins were. I did not. He explained the virtual currency and how it worked. Then he really laid it all out. He told me that he had quite a lot of bitcoins and that he wants to get into selling weed. It all sounded great, but I wasn't sure what he needed me for. He then told me that he doesn't really talk to anyone and that he always sees me with people and going to parties every weekend. Okay, this makes sense. He told me how the operation would work, and it sounded swell. For the record, I was eighteen and very stupid. Anyway, he would purchase the drugs from the Silk Road, a dark website where you can buy literally fucking anything. Our friend Noah would then get the goods delivered to his apartment, which had a mailroom with hundreds of mailboxes. This was good because it would be just a little bit less suspicious, also his apartment was not on our campus. Then we'd package everything there and move it to our dorm, which had it's own security. We lived in North Philadelphia, so the security and police were always looking out for the students. After we safely had the products, I would find the buyers.
Our first shipment went well. We ordered a half pound of weed, a gram of hash, ten hits of LSD, a small bag of opium (for us), and 1000mg of Alprazolam extract for my room mate's personal anxiety treatment. We got into this business to become weed salesmen. That weed took forever to sell. Everyone who sold weed already had good connections from their hometowns. The LSD though, that sold in five fucking minutes to one buyer who was interested in buying much more than ten hits. He asked us if we could sell him a couple hundred tabs. He said he'd pay $350 for each sheet of 100. We looked at the price per sheet on the Silk Road. It would cost us only $80 each. Yes sir, we can absolutely sell you a couple sheets. We told him we'd call him when it arrived. Later that night we brewed some opium tea and celebrated entering the LSD business. We bought the sheets for him, and we also bought two extras in case anyone else wanted some.
The next shipment came with no problems. Our friend came over and bought the sheets we had promised him. We made nearly $800 on that deal. We thought that was a lot, so we celebrated. Later that same day, while smoking a blunt in our courtyard, I made friends with some art students. They invited me to their dorm on the third floor. I agreed, went with them, and we listened to music and painted the walls of the dorm room which was super against the rules. They started talking about how they had taken magic mushrooms two weeks before and how it was life changing. I told them I had two-hundred hits of acid in my room. I've never seen people get so excited in my entire life. They bought all of it. They paid $400 for each sheet. Seemingly out of nowhere we made $600. Again, we thought this was a lot.
My room mate was really happy with my networking abilities. Dude, I was just getting high with some hipster art students. I didn't really possess the "networking skills" that everyone thought I had. We went online and purchased another five sheets. We started getting a bit more confident in our ability to sell this magic money making paper. That week I was in one of my classes and had to do a group project with a kid named Eddy. We went to his apartment to work on the project after class. Eddy had an apartment off campus because he was an upperclassman. On the way he asked if I smoked weed. Of course. He said he had something to show me. When we got there he showed me a small weed plant he was growing. It was an adorable little plant in a flower pot by the window. I asked if he needed any weed and he said that he did not. We smoked a bit and then her offered me a Xanax. I had never taken Xanax, so I googled the pill he offered me. Alprazolam. Huh, that's funny. I told him I had 1000mg of alprazolam in my room. This excited him.
I asked my room mate if he was willing to sell some of his private stash. Eddy only wanted to buy around 100 milligrams. He agreed and I brought Eddy to my dorm. We gave it to him for the cool price of $150, a slick markdown from what he was paying. After all we hadn't even planned on selling that stuff. He asked how we got it so cheap and if we could get anything else. We told him that we sell LSD. He said he loves hallucinogens and would love to purchase a sheet, so he did. Four sheets left. If we sell them, we can get a new and faster computer.
The weekend came and I was hanging out with two of my friends from our residence hall. Joe, who was really chill and loved smoking weed as much as I did. And Bianca, who was so cool that it frightened me. She was really intimidating. I had a huge crush on her, but she was "talking" to a kid that lived in Johnson and Hardwick hall. Bianca was the type of person you see in movies about cool kids doing cool things. A character who has a lot of depth, but it takes nearly the whole movie to slowly peel back the layers, and by that time you're in love. I told her if we sold the rest of our acid I'd buy her a new tattoo. She was covered in them. That night Joe was going to take us to his friend Jamie's house. We were going to try cocaine for the first time. I was terrified. Not only was I terrified about trying cocaine, but I was scared of doing it with Bianca. I just didn't know how I would act, and I didn't want to do something stupid.
We arrived at Jamie's house. Jamie was also intimidating. His house was what your typical trap house looked like at the time, with a bunch of really expensive music equipment. Everybody wanted to be a rapper or a D.J. that year. He introduced all his friends and offered us lines of coke. Here we go. Joe went first, he'd already done some before. Bianca went next without hesitation. Now it was my turn. I remember my hand shaking with the rolled up bill between my fingers. I chose the smallest line and sniffed. It did not taste anything like I expected. Five minutes went by. Oh, this is what cocaine is like. It was so underwhelming. It was also some thoroughly stepped on shit. I know that now because since then I've done some foreign blow that literally almost made my heart stop. Anyway, Jamie and I got to talking, mostly about his "music career". Jamie told me if I ever wanted to buy cocaine in bulk to hit him up. I laughed and told him if he ever wanted to buy LSD in bulk to hit me up. I was half joking. He looked at me with the straightest face and asked if I was serious. Honestly, this Jamie guy really scared the shit out of me. He was a good ten inches taller than me and the whole scene was really starting to freak me out. I told him I was serious though. He told me to come with him.
He brought me into his room and closed the door. In the room it was quiet. The walls were sound proofed. I looked around and the room was full of money, cocaine, and guns. Okay, he's probably not going to kill me. I hope. He then asked about my LSD connection. I told him I could get sheets for $350. He said he wanted books. Books? This guy wants books? I didn't know this at the time, but a book is a thousand hits of LSD. I told him I had to talk to some people and I would let him know the price, but that I could definitely make it happen. We went back into the party and he gave me line after line of cocaine. Joe offered him money for the lines, but Jamie told him not to pay. He said your friend here bought you guys as much coke as you want for the night. Honestly, that made me feel really cool. After the party I talked to my room mate and told him what happened. We looked up the price of a book on the Silk Road. $300. Not only could we have saved a lot of money if we had just bought a book from the start, but we were going to make a lot more money selling by the book. The days of getting excited over $800 were about to come to an abrupt end.
I talked to Jamie and asked how much he would be willing to pay for each book. He said he would pay no more than $3000 for each book. We decided we would sell him the books for $2,800 each. He agreed and asked how many we had. I said we can start with five books. He agreed. This was perfect. Not only were we about to make more money than we had ever expected, but acid was incredibly easy to ship. They were basically sheets of paper. Our supplier used to send it to us in between the pages of large children's coloring books. The books, or prints, as our supplier called them, blended with the kid's books very well. Our prints consisted of a large picture of Bart Simpson, The Grateful Dead bears, and a double rainbow portrait. If you didn't know what acid was, you wouldn't know these were drugs. We made nearly $14,000 from that first deal.
Over the course of a few months we would sell close to thirty-thousand hits of LSD. We had $75,000 in cash sitting in an empty bedroom at Noah's apartment. I stopped going to class. My room mate had filled his entire room with computer parts and instruments. Noah, well we didn't really see him much, but he was always present when we needed a shipment. We broke our cardinal rule of not getting high on our own supply. We took a lot of acid that semester. It was an extremely enlightening period for us. Things in my world began to take on entirely new meaning. I had a newfound appreciation for things I had never noticed. The connections with my friends became very strong and we talked about a lot of stuff that was just too deep for my other peers to even scratch the surface of. It was nice.
By my birthday in February we had over $200,000 in cash. We didn't die in December, not that I thought we would, but some people were legitimately surprised. They were mostly art students. Things started getting a little crazy. My room mate and I were taking a lot of Xanax by this time and a lot of nights celebrating were never logged as memories. We always told ourselves we would only sell LSD. We had sparked a huge psychedelic scene in and around Philadelphia. There were literally parties where everyone was tripping acid. Many groups of people began taking acid and doing really creative stuff that I admired so much. So much good music and art was around during that period. I felt like I was living in San Fransisco in the middle 60's. It felt like we were part of this incredible scene that nobody outside of the city knew about. Of course every wave has to break and roll back.
It was getting close to the summer. I hadn't been to class in months. We hadn't seen Noah since the previous shipment about a month prior. It was a regular weekday, but I wasn't going to class, so I took two hits of acid. I spent most of that evening and night writing and yapping into my tape recorder. I was on the subject of togetherness and how there are so many things that are so incredible that we never notice even though they're right in front of us. Acid talk. I was looking at a glass of water, thinking about its importance, and how so many of us take it for granted. That's when my room mate came home. This was my room mate though. Remember, we had a two bedroom, four person suite. My room mate, who was never involved in our operation. He was obliterated, and not from alcohol. This was something else. He limped into the room and collapsed on the bed. I immediately got the rest of my room mates together. That's when Christian told me what transpired earlier while I was locked in the bedroom tripping acid. He told me that my room mate had broken up with his girlfriend, took an entire bottle of lorazepam, and tried to cut his leg open with my biology scalpel. What the fuck.
I examined his leg and he did not try to cut it open, he succeeded. He had a gigantic cut all the way down his lower leg that was fixed up by his father who is a surgeon. His father then brought him back to the dorm. The condition he was in was terrifying. He was breathing, but not well. His heart rate was also very low and we had to monitor him for the remainder of the night, taking shifts to make sure he didn't stop breathing. I couldn't believe his father had brought him back in the condition he was in. The next morning I was exhausted. My room mate and I, the one with the bitcoins, left and went to Noah's apartment to relax for an hour. While we were gone Bianca was to watch over him with her room mate. When we got to Noah's we had a new problem. Noah hadn't gotten out of bed for what looked like weeks. He had ran out of his antidepressants and was in bad shape. At this point I checked out. I walked into the living room and opened a bottle of champagne. I poured a glass, popped a Xanax, and sat on the sofa. I was still a little foggy from my acid trip and I hadn't slept all night. That's when my phone rang. It was Bianca.
I answered the phone and her first words were: "Your room is full of police.". Well, it's been a good run. On my desk were a couple thousand hits of LSD and a handgun. In the other bedroom were numerous unopened box's of expensive computer parts, scales and drug paraphernalia galore, and a large pile of white powdered alprazolam. That room also smelled heavily of weed because there was a half pound out in the open. We had gotten very sloppy. I asked her if my room mate was okay. She said that's why the police are there. She said his mom was trying to reach him and he wasn't answering her, so she called the police for a wellness check. Bianca then started talking to someone and hung up the phone.
We pondered whether or not to flee the country and become outlaws. We did after all have all the cash here at Noah's. Close to a million dollars. Maybe more. Because we were getting sloppy, we had also started selling hash, Xanax, LSD, 25i-NBOMe, 2c-b, 2c-i, 2c-E, Mescaline, cocaine, MDMA, MDA, LSA, clonazepam, ativan, and other various designer drugs. We were going down for a long time. I started thinking about my life. It literally was flashing before my eyes. I thought about my high school crush, and how I should have been more upfront with her about how much I liked her. I loved her. I thought about the time we slept in the same bed and I couldn't fall asleep because I couldn't believe she was really laying next to me. I remembered how I never wanted to wake up next to anyone else. I thought about my trivial crush on Bianca and how shallow it really was. I thought about my parents and how they'd raised me better. How they did so much for me so that I could go away to college and have a better life than they had. I thought about sitting on the beach last summer without a care in the world. The "problems" in my life that seemed hilarious now. Will I go to prom? Is my car cool enough? My k/d ratio in Call of Duty. How could so much happen in less than a year? That's when Bianca called me again.
I was terrified to pick up that phone. We looked outside to see if police were surrounding the apartment complex. They were not. I answered the phone. She said the police were gone. She had put my gun and LSD in my desk drawer. The police never entered the other bedroom. It was just a wellness check. An ambulance came and took my room mate. He was going to be okay. I hugged my partner in crime and we cried. I wish I could tell you we cleaned up our lives after that. My room mate with the bitcoins developed a really dangerous drug habit after that. He spent most of his money on drugs over the next few years. I went back to class after that summer, but stopped going again because I wanted to party instead and start a career as a writer. I failed out of college. Throughout the years I went on numerous adventures all around the world. I have hundreds of stories, I just have to write them. Oh and I have to learn how to write properly. I don't use a lot of drugs today, and I don't encourage people to use drugs. I have unfortunately lost many friends during the opiate epidemic. Weed is cool though, I like weed. I wouldn't tell people to smoke it, but I'll never shame someone for enjoying some cannabis. Actually, I don't really shame people for anything, it's just not my place to judge anyone. Feel free to judge me though, about how my dorm room became a drug superhighway.


**More stories are now available on my blog.
\**Top post of all time on* bartardstories. Thank you to my readers and most of all -- the haters. Thanks for reading.

submitted by XleepyJoeBenzo to BartardStories [link] [comments]

If you missed the AMA

AMA AT DETECTIVE ID (25/06/2020)
Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken.
Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established?
The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control.
Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020?
By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges.
Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers?
Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community
Community Questions (Twitter):
Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale?
Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions
Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different?
Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side
Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing?
As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here.
Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera?
I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle).
Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed?
The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :)
Nuked Phase (3rd Part)
Q) What is your VISION and Mission?
Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset.
Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion?
We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊)
Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?.
You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens
Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them?
We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on.
Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.??
When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing
Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction?
We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem
Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market?
We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18
Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges?
Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price.
Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents?
We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract).
Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects?
Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk)
Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people.
Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology?
We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming
Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations.
Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term?
The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above
Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it?
We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token.
Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges?
STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible??
Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community
Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ?
Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention.
Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space?
We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about.
Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term?
The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people!
Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space?
We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this?
By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would
Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time?
I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
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How my dorm turned into a drug superhighway.

The year was 2012, and we were all supposed to die in December. It was my freshman year of college. I was settling in quite well. I made friends with a bunch of people in our residence hall, we hit it off immediately. We started going out on the weekends, starting with thirsty Thursday, which turns out is actually a thing. I had more than one room mate. We lived in a four person suite with two bedrooms. I had a full ride to my University, so I had a lot of extra money to spend on my living arrangements and meal plan. Oh yeah, I was also a huge pothead.
I made friends with the dealer on my floor and started buying him extra meals in exchange for weed. That's when one of my room mates came to me with a proposition. He asked me if I knew what bitcoins were. I did not. He explained the virtual currency and how it worked. Then he really laid it all out. He told me that he had quite a lot of bitcoins and that he wants to get into selling weed. It all sounded great, but I wasn't sure what he needed me for. He then told me that he doesn't really talk to anyone and that he always sees me with people and going to parties every weekend. Okay, this makes sense. He told me how the operation would work, and it sounded swell. For the record, I was eighteen and very stupid. Anyway, he would purchase the drugs from the Silk Road, a dark website where you can buy literally fucking anything. Our friend Noah would then get the goods delivered to his apartment, which had a mailroom with hundreds of mailboxes. This was good because it would be just a little bit less suspicious, also his apartment was not on our campus. Then we'd package everything there and move it to our dorm, which had it's own security. We lived in North Philadelphia, so the security and police were always looking out for the students. After we safely had the products, I would find the buyers.
Our first shipment went well. We ordered a half pound of weed, a gram of hash, ten hits of LSD, a small bag of opium (for us), and 1000mg of Alprazolam extract for my room mate's personal anxiety treatment. We got into this business to become weed salesmen. That weed took forever to sell. Everyone who sold weed already had good connections from their hometowns. The LSD though, that sold in five fucking minutes to one buyer who was interested in buying much more than ten hits. He asked us if we could sell him a couple hundred tabs. He said he'd pay $350 for each sheet of 100. We looked at the price per sheet on the Silk Road. It would cost us only $80 each. Yes sir, we can absolutely sell you a couple sheets. We told him we'd call him when it arrived. Later that night we brewed some opium tea and celebrated entering the LSD business. We bought the sheets for him, and we also bought two extras in case anyone else wanted some.
The next shipment came with no problems. Our friend came over and bought the sheets we had promised him. We made nearly $800 on that deal. We thought that was a lot, so we celebrated. Later that same day, while smoking a blunt in our courtyard, I made friends with some art students. They invited me to their dorm on the third floor. I agreed, went with them, and we listened to music and painted the walls of the dorm room which was super against the rules. They started talking about how they had taken magic mushrooms two weeks before and how it was life changing. I told them I had two-hundred hits of acid in my room. I've never seen people get so excited in my entire life. They bought all of it. They paid $400 for each sheet. Seemingly out of nowhere we made $600. Again, we thought this was a lot.
My room mate was really happy with my networking abilities. Dude, I was just getting high with some hipster art students. I didn't really possess the "networking skills" that everyone thought I had. We went online and purchased another five sheets. We started getting a bit more confident in our ability to sell this magic money making paper. That week I was in one of my classes and had to do a group project with a kid named Eddy. We went to his apartment to work on the project after class. Eddy had an apartment off campus because he was an upperclassman. On the way he asked if I smoked weed. Of course. He said he had something to show me. When we got there he showed me a small weed plant he was growing. It was an adorable little plant in a flower pot by the window. I asked if he needed any weed and he said that he did not. We smoked a bit and then her offered me a Xanax. I had never taken Xanax, so I googled the pill he offered me. Alprazolam. Huh, that's funny. I told him I had 1000mg of alprazolam in my room. This excited him.
I asked my room mate if he was willing to sell some of his private stash. Eddy only wanted to buy around 100 milligrams. He agreed and I brought Eddy to my dorm. We gave it to him for the cool price of $150, a slick markdown from what he was paying. After all we hadn't even planned on selling that stuff. He asked how we got it so cheap and if we could get anything else. We told him that we sell LSD. He said he loves hallucinogens and would love to purchase a sheet, so he did. Four sheets left. If we sell them, we can get a new and faster computer.
The weekend came and I was hanging out with two of my friends from our residence hall. Joe, who was really chill and loved smoking weed as much as I did. And Bianca, who was so cool that it frightened me. She was really intimidating. I had a huge crush on her, but she was "talking" to a kid that lived in Johnson and Hardwick hall. Bianca was the type of person you see in movies about cool kids doing cool things. A character who has a lot of depth, but it takes nearly the whole movie to slowly peel back the layers, and by that time you're in love. I told her if we sold the rest of our acid I'd buy her a new tattoo. She was covered in them. That night Joe was going to take us to his friend Jamie's house. We were going to try cocaine for the first time. I was terrified. Not only was I terrified about trying cocaine, but I was scared of doing it with Bianca. I just didn't know how I would act, and I didn't want to do something stupid.
We arrived at Jamie's house. Jamie was also intimidating. His house was what your typical trap house looked like at the time, with a bunch of really expensive music equipment. Everybody wanted to be a rapper or a D.J. that year. He introduced all his friends and offered us lines of coke. Here we go. Joe went first, he'd already done some before. Bianca went next without hesitation. Now it was my turn. I remember my hand shaking with the rolled up bill between my fingers. I chose the smallest line and sniffed. It did not taste anything like I expected. Five minutes went by. Oh, this is what cocaine is like. It was so underwhelming. It was also some thoroughly stepped on shit. I know that now because since then I've done some foreign blow that literally almost made my heart stop. Anyway, Jamie and I got to talking, mostly about his "music career". Jamie told me if I ever wanted to buy cocaine in bulk to hit him up. I laughed and told him if he ever wanted to buy LSD in bulk to hit me up. I was half joking. He looked at me with the straightest face and asked if I was serious. Honestly, this Jamie guy really scared the shit out of me. He was a good ten inches taller than me and the whole scene was really starting to freak me out. I told him I was serious though. He told me to come with him.
He brought me into his room and closed the door. In the room it was quiet. The walls were sound proofed. I looked around and the room was full of money, cocaine, and guns. Okay, he's probably not going to kill me. I hope. He then asked about my LSD connection. I told him I could get sheets for $350. He said he wanted books. Books? This guy wants books? I didn't know this at the time, but a book is a thousand hits of LSD. I told him I had to talk to some people and I would let him know the price, but that I could definitely make it happen. We went back into the party and he gave me line after line of cocaine. Joe offered him money for the lines, but Jamie told him not to pay. He said your friend here bought you guys as much coke as you want for the night. Honestly, that made me feel really cool. After the party I talked to my room mate and told him what happened. We looked up the price of a book on the Silk Road. $300. Not only could we have saved a lot of money if we had just bought a book from the start, but we were going to make a lot more money selling by the book. The days of getting excited over $800 were about to come to an abrupt end.
I talked to Jamie and asked how much he would be willing to pay for each book. He said he would pay no more than $3000 for each book. We decided we would sell him the books for $2,800 each. He agreed and asked how many we had. I said we can start with five books. He agreed. This was perfect. Not only were we about to make more money than we had ever expected, but acid was incredibly easy to ship. They were basically sheets of paper. Our supplier used to send it to us in between the pages of large children's coloring books. The books, or prints, as our supplier called them, blended with the kid's books very well. Our prints consisted of a large picture of Bart Simpson, The Grateful Dead bears, and a double rainbow portrait. If you didn't know what acid was, you wouldn't know these were drugs. We made nearly $14,000 from that first deal.
Over the course of a few months we would sell close to thirty-thousand hits of LSD. We had $75,000 in cash sitting in an empty bedroom at Noah's apartment. I stopped going to class. My room mate had filled his entire room with computer parts and instruments. Noah, well we didn't really see him much, but he was always present when we needed a shipment. We broke our cardinal rule of not getting high on our own supply. We took a lot of acid that semester. It was an extremely enlightening period for us. Things in my world began to take on entirely new meaning. I had a newfound appreciation for things I had never noticed. The connections with my friends became very strong and we talked about a lot of stuff that was just too deep for my other peers to even scratch the surface of. It was nice.
By my birthday in February we had over $200,000 in cash. We didn't die in December, not that I thought we would, but some people were legitimately surprised. They were mostly art students. Things started getting a little crazy. We always told ourselves we would only sell LSD. We had sparked a huge psychedelic scene in and around Philadelphia. There were literally parties where everyone was tripping acid. Many groups of people began taking acid and doing really creative stuff that I admired so much. So much good music and art was around during that period. I felt like I was living in San Fransisco in the middle 60's. It felt like we were part of this incredible scene that nobody outside of the city knew about. Of course every wave has to break and roll back.
It was getting close to the summer. I hadn't been to class in months. We hadn't seen Noah since the previous shipment about a month prior. It was a regular weekday, but I wasn't going to class, so I took two hits of acid. I spent most of that evening and night writing and yapping into my tape recorder. I was on the subject of togetherness and how there are so many things that are so incredible that we never notice even though they're right in front of us. Acid talk. I was looking at a glass of water, thinking about its importance, and how so many of us take it for granted. That's when my room mate came home. This was my room mate though. Remember, we had a two bedroom, four person suite. My room mate, who was never involved in our operation. He was obliterated, and not from alcohol. This was something else. He limped into the room and collapsed on the bed. I immediately got the rest of my room mates together. That's when Christian told me what transpired earlier while I was locked in the bedroom tripping acid. He told me that my room mate had broken up with his girlfriend, took an entire bottle of lorazepam, and tried to cut his leg open with my biology scalpel. What the fuck.
I examined his leg and he did not try to cut it open, he succeeded. He had a gigantic cut all the way down his lower leg that was fixed up by his father who is a surgeon. His father then brought him back to the dorm. The condition he was in was terrifying. He was breathing, but not well. His heart rate was also very low and we had to monitor him for the remainder of the night, taking shifts to make sure he didn't stop breathing. I couldn't believe his father had brought him back in the condition he was in. The next morning I was exhausted. My room mate and I, the one with the bitcoins, left and went to Noah's apartment to relax for an hour. While we were gone Bianca was to watch over him with her room mate. When we got to Noah's we had a new problem. Noah hadn't gotten out of bed for what looked like weeks. He had ran out of his antidepressants and was in bad shape. At this point I checked out. I walked into the living room and opened a bottle of champagne. I poured a glass, popped a Xanax, and sat on the sofa. I was still a little foggy from my acid trip and I hadn't slept all night. That's when my phone rang. It was Bianca.
I answered the phone and her first words were: "Your room is full of police.". Well, it's been a good run. On my desk were a couple thousand hits of LSD and a handgun. In the other bedroom were numerous unopened box's of expensive computer parts, scales and drug paraphernalia galore, and a large pile of white powdered alprazolam. That room also smelled heavily of weed because there was a half pound out in the open. We had gotten very sloppy. I asked her if my room mate was okay. She said that's why the police are there. She said his mom was trying to reach him and he wasn't answering her, so she called the police for a wellness check. Bianca then started talking to someone and hung up the phone.
We pondered whether or not to flee the country and become outlaws. We did after all have all the cash here at Noah's. Close to a million dollars. Maybe more. Because we were getting sloppy, we had also started selling hash, Xanax, LSD, 25i-NBOMe, 2c-b, 2c-i, 2c-E, Mescaline, cocaine, MDMA, MDA, LSA, clonazepam, ativan, and other various designer drugs. We were going down for a long time. I started thinking about my life. It literally was flashing before my eyes. I thought about my high school crush, and how I should have been more upfront with her about how much I liked her. I loved her. I thought about the time we slept in the same bed and I couldn't fall asleep because I couldn't believe she was really laying next to me. I remembered how I never wanted to wake up next to anyone else. I thought about my trivial crush on Bianca and how shallow it really was. I thought about my parents and how they'd raised me better. How they did so much for me so that I could go away to college and have a better life than they had. I thought about sitting on the beach last summer without a care in the world. The "problems" in my life that seemed hilarious now. Will I go to prom? Is my car cool enough? My k/d ratio in Call of Duty. How could so much happen in less than a year? That's when Bianca called me again.
I was terrified to pick up that phone. We looked outside to see if police were surrounding the apartment complex. They were not. I answered the phone. She said the police were gone. She had put my gun and LSD in my desk drawer. The police never entered the other bedroom. It was just a wellness check. An ambulance came and took my room mate. He was going to be okay. I hugged my partner in crime and we cried. I wish I could tell you we cleaned up our lives after that. My room mate with the bitcoins developed a really dangerous drug habit after that. He spent most of his money on drugs over the next few years. I went back to class after that summer, but stopped going again because I wanted to party instead and start a career as a writer. I failed out of college. Throughout the years I went on many adventures all around the world. I have hundreds of stories, I just have to write them. Oh and I have to learn how to write properly. I don't use a lot of drugs today, and I don't encourage people to use drugs. I have unfortunately lost many friends during the opiate epidemic. Weed is cool though, I like weed. I wouldn't tell people to smoke it, but I'll never shame someone for enjoying some cannabis. Actually, I don't really shame people for anything, it's just not my place to judge anyone. Feel free to judge me though, about how my dorm room became a drug superhighway.
Tl;Dr We sold some acid, created a psychedelic scene in Philadelphia, and almost got caught.
submitted by XleepyJoeBenzo to stories [link] [comments]

Why i’m bullish on Zilliqa (long read)

Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analysed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralised and scalable in my opinion.
 
Below I post my analysis why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, secure and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in amount of nodes. More nodes = higher transaction throughput and increased decentralisation. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue disecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as:
“A peer-to-peer, append-only datastore that uses consensus to synchronise cryptographically-secure data”.
 
Next he states that: >“blockchains are fundamentally systems for managing valid state transitions”.* For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (>66%) double spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT etc. Another thing we haven’t looked at yet is the amount of decentralisation.
 
Decentralisation
 
Currently there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralised nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching their transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public.They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers.The 5% block rewards with an annual yield of 10.03% translates to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS & shard nodes and seed nodes becoming more decentralised too, Zilliqa qualifies for the label of decentralised in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. Faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time stamped so you’ll start right away with a platform introduction, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behaviour are different things and should be separated to ensure their clarity.”
 
Scilla is on the functional side and shares similarities with OCaml: > OCaml is a general purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognised by academics and won a so called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities safety is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa for Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue:
In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships  
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organisations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, AirBnB, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are build on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”*
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They dont just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities) also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiatives (correct me if I’m wrong though). This suggest in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures & Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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Bitcoin and cryptocurrencies explained for beginners What is Bitcoin? Bitcoin Explained Simply for Dummies Bitcoin Basics (Part 1) - Bitcoin News: Bitcoin Explained In Details Bitcoin ETF Everything Explained

Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Launched in early 2009 by its pseudonymous creator Satoshi Nakamoto This is explained by the fact that mining remains profitable as long as Bitcoin is trading above $ 6,000. The situation changes on November 14, when the Bitcoin exchange rate drops sharply below this level and continues to fall until mid-December, stopping at around $ 3,100. At that time, Bitcoin’s all-time high above $1000 was partly driven by an automated trading algorithms, or “bots,” running on the Mt. Gox exchange. All evidence suggests that these bots were operating fraudulently under the direction of exchange operator, Mark Karpeles, bidding up the price with phantom funds. A 'Buy rate' is the rate that ASB will buy foreign currency from you. A 'Sell rate' is the rate that ASB will sell foreign currency to you. Take a look at our current exchange rates to see the current buy and sell rates. Bitcoin implements its own blockchain, meaning that you can trace yours and other’s activities back since the introduction of the coin. It is managed by peer-to-peer (P2P) network as it is ledger for both mining and trade transactions.

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Bitcoin and cryptocurrencies explained for beginners

Bitcoin is the first decentralized digital currency. All Bitcoin transactions are documented on a virtual ledger called the blockchain, which is accessible for everyone to see. While an exchange like Coinbase stays among the most popular methods of buying bitcoin, it is not the only approach. Below are some additional processes bitcoin owners utilize. Bitcoin ATMs act a ... In this video I quickly look at Bitcoin, then I explain Exchange Traded Funds and then I discuss the reasons for putting Bitcoin on an ETF and then finally I explain why it got rejected by the ... bitcoin definition bitcoin documentary bitcoin debit card bitcoin derivatives ... bitcoin explained bitcoin exchange rate chart bitcoin escrow bitcoin ebay bitcoin exchange nyc You can always keep your coins on an exchange for the mean time whilst trying to find a wallet. Bitcoin and other cryptocurrencies are "kept" using wallets, a wallet symbolizes that you own the ...