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|Player||Agent||Most Likely Reporter|
|Anthony Davis||Rich Paul||Too close to call, leaning Shams|
|Brandon Ingram||Jeff Schwartz||Woj|
|DeMar DeRozan||Aaron Goodwin||Haynes|
|Fred VanVleet||Brian Jungreis||Limited data|
|Andre Drummond||Jeff Schwartz||Woj|
|Montrezl Harrell||Rich Paul||Too close to call, leaning Shams|
|Gordon Hayward||Mark Bartelstein||Woj|
|Danilo Gallinari||Michael Tellem||Woj|
|Bogdan Bogdanovic||Alexander Raskovic, Jason Ranne||Limited data, but part of Wasserman, whose players are predominantly reported on by Woj|
|Davis Bertans||Arturs Kalnitis||Limited data|
WW: 35721388 PH: 324740
Logistics ▲2.23% POGO Gaming ▲0.46% 2019 IPOs ▲0.35%
Media ▼6.52% 2020 IPOs ▼2.51% Fast Food ▼2.03%
MB is posted to /PHinvest every Monday and Wednesday, but my newsletter goes out daily. To stay in the loop for daily email delivery, please join the barkada by signing up for the newsletter, or follow me on Twitter.
- [UPDATE] ABS-CBN [ABS 9.00 ▼14.93%] confirms distribution deal with Zoe TV’s rebranded “A2Z Channel”... this is just confirmation of the fire that caused the ceiling-play smoke a couple of days ago that saw the ABS stock price rise 50% intraday. According to this press release, ABS-CBN and Zoe Broadcasting Network Inc have made a deal to show “some entertainment shows and movies of ABS-CBN” on A2Z Channel 11, a newly re-branded Zoe Broadcasting Network channel that will broadcast on analog TV in Metro Manila and surrounding provinces. ABS content will start appearing on this new A2Z channel starting October 10.
- MB: No details yet on what content, exactly, will be shown, but the wording of the press release is interesting. It mentions “entertainment and movies” specifically, but leaves out politically-adjacent topics like news or analysis/interview shows. The Inquirer is reporting a rumor that “It’s Showtime” and “ASAP Natin ‘To” will be part of the content to make its way to A2Z Channel 11, but that has not been confirmed. Investors will want to watch this closely to see how well ABS is able to monetize this agreement with advertising, and to see how the government reacts as more ABS content moves into this pipeline.
- [UPDATE] Wild DITO CME [DITO 6.81 unch], NOW Communications [NOW 4.98 ▲13.44%], and Chelsea Logistics [C 5.90 ▼4.07%] price action in yesterday’s session... the NOW and DITO pump has been massive and constant. But this last week was especially spicy, with yesterday’s session just an absolute gong-show that caused brokerage meltdowns. DITO opened the day at P7/share, up 3% on the previous day’s close, and steadily gained to a high-water mark of P8.02/share (+18%) at around 11:45am. At 11:45am, DITO had a marketcap of P22.5bn. In the next 27 minutes, DITO would lose P7.4bn in marketcap as the price imploded to P5.38/share, swinging from an 18% gain on the day to a 21% loss. Then, over the next 30 minutes, completely erasing that loss and ending the day right where it started, at P6.81/share. 2.09 billion shares changed hands on the PSE yesterday; DITO accounted for 16% of the day’s total volume (355 million shares). The three companies combined accounted for over 28% of all shares traded.
- MB: MB: The amount of market uncertainty here is incredible. Traders love it, investors hate it. DITO doesn’t even own DITO Telecommunity, or anything else of material value for that matter, NOW just diluted shareholders with a bearish low-price sweetheart deal, and Chelsea is a company of tugboats and passenger ferries that happens to own a sliver of Dennis Uy’s enigmatic telecom. NOW has a long history of playing the “press release pump and dump” game, and I can only imagine that it’s happy just to be along for the ride, fluffing feathers before a potential IPO by way of introduction. Everyone in the Philippines can sense that connectivity is a bull market, whether that be mobile data (C, GLO, TEL.... then NOW) or broadband (GLO, TEL, CNVRG)...so money just keeps pouring into telco-related stocks. And it makes sense, too, given how few options there are right now on the PSE for anything that looks both pandemic-resilient and secularly profitable. But some of these things are not like the others. Some of these things will crush it, and some will not. Be careful trading telcos that you remember whether you’re being a trader (short term) or an investor (long term). Don’t start out as a trader, forget to place stops, then wind up as an investor with an investment that’s underwater. BE CAREFUL. EDIT: Also, COL Financial, get your act together. You blew AREIT and MM, and you blew yesterday's Telecommotion. At this point, traders/investors should not make plans in reliance on COL Financial's execution of a buy or sell trade.
I had 1,400 BTC in a wallet that I had not accessed since 2017. I foolishly installed the old version of the electrum wallet. My coins propagated. I attempted to transfer about 1 BTC however was unable to proceed. A pop-up displayed stating I was required to update my security prior to being able to transfer funds.Source - https://github.com/spesmilo/electrum/issues/5072#issuecomment-683356052
I installed the update which immediately triggered the transfer of my entire balance to a scammers address.
WW: 41486924 PH: 362224
POGO Prop. ▲3.02% #COVID-19 ▲2.80% Power Gen. ▲2.47%
2019 IPOs ▼2.18% MiddleClass ▼1.04% POGO Gaming ▼0.99%
MB is posted to /PHinvest every Monday and Wednesday, but my newsletter goes out daily. To stay in the loop for daily email delivery, please join the barkada by signing up for the newsletter, or follow me on Twitter.
- [NEWS] Discovery World Corp [DWC 1.90 ▲18.75%] raises P304m in private share sale... the announcement of the sale was made before the start of trading yesterday, so the stock was halted for one hour to give traders a chance to digest the news. DWC develops, owns, and operates luxury resorts, like Discovery Shores Boracay and other resorts in Coron and Palawan. DWC sold 190m shares to “JT Perle Corp” for P1.60/share (the previous closing price). The shares came out of DWC’s authorized (but unissued) capital stock. DWC plans to use the proceeds of the sale for “working capital”. According to PSE rules, since the sale results in JT Perle Corp owning more than 10% of the outstanding shares of DWC, the deal must be approved by a vote of shareholders; DWC has arranged a special shareholders’ meeting on November 26 to approve the transaction and satisfy that rule.
- MB: “JT Perle” is owned by the chairman of DWC, John Tiu, so this looks a lot like helping a cash-strapped corp keep the lights on during a pandemic than any kind of value-building strategic partnership. The DWC stock price has been depressed by the COVID crisis but not to the degree that one would anticipate for a luxury tourism-focused company during a pandemic. In fact, news of this investment by Tiu shot the stock up 18% to P1.90/share, a level that it hasn’t seen since literally the first weeks of the lockdown. There’s not a lot of volume here so the price action has a ton of noise and not a lot of signal, but it will be interesting to see how DWC deploys this fresh batch of funding. I’m going to look closely at DWC’s Q3 earnings.
- [NOTE] A stock sale of “authorized but unissued stock” is dilutive... a sale like the one above, where DWC’s chairman, John Tiu, bought 190 million shares of DWC from DWC’s “authorized but unissued stock” is a dilutive transaction. “Authorized” stock just means that the theoretical existence of the stock has already been built into the legal documents of the company; stock that is authorized, but unissued, doesn’t factor into anything like dividends, or voting, or anything of that sort. It just acts as a warehouse of unsold stock that the company COULD issue and put into circulation in order to raise money. Once the stock is sold, it is converted from “authorized but unissued” to “authorized and issued”, and the number of shares that were sold/issued are added to the stock’s issued and outstanding shares.
- MB: This kind of transaction is dilutive. For the sake of a simple example, say XYZ Inc has only two shareholders, John Tiu and you. XYZ has legal documents that authorize 20 common shares, but only 10 of XYZ’s shares have actually been sold and issued. John owns 5, and you own 5. You each own 50% of XYZ’s shares. Then, John makes a deal with XYZ Inc to buy an additional 5 shares out of XYZ’s 10 shares authorized-but-unissued stock. Since these shares act as “new” shares, their issuance adjusts the relative ownership of the company. Now John owns 10 shares, for 66% of the company, and you own 5 shares, for 33% of the company. That’s dilution. Your relative economic and voting power went down. That’s what just happened to DWC shareholders, and they loved it.
- [NEWS] Rockwell Land [ROCK 1.52 ▲0.66%] signs JV with TGN Realty to develop “Rockwell North”... the Lopez Family’s real estate arm signed a joint venture agreement with the Nepomuceno Family’s TGN Realty to develop a 3.6 hectare plot of land in Angeles City, in Pampanga. The plan is for three residential towers, all surrounding a mall -- Rockwell’s first to be developed outside of the NCR. ROCK even indicated that the Angeles City development will be made in the spirit of the original Rockwell Center in Makati City.
- MB: The residential side of the project is expected to raise P6.7 billion in sales, with turnover starting toward the end of next year. The development will eventually benefit from its proximity to the Clark International Airport and the North-South Commuter Railway that will connect Manila to Clark. From ROCK’s perspective, it’s probably just a lot safer to build outside of the NCR’s propensity to issue lockdowns and confusing/changing movement restriction orders, both in terms of preventing construction delays but also in terms of preventing mall shutdowns (and the related rent/lease squabbles).
- [Q3] Belle Corp [BEL 1.47 ▲5.00%] profit ▼109% y/y... Q3/20 loss of P46m, down 109% from Q3/19 profit of P514m. According to the associated press release, BEL said that its 9-month revenue from its share of the City of Dreams in Manila, its “primary growth driver”, fell 86% because of the lockdown. BEL’s lottery operations also saw a substantial drop in revenues (down 71%), as did its real estate activities in the Tagaytay Highlands development.
- MB: Like other companies that have too many eggs in the “luxury tourism and gaming” basket, BEL is suffering from being cut off from its mainland China cash cow. Revenues are not driven by local buyers, local bettors, or local tourists. It’s all targeting foreign customers from mainly China, but also Korea and Japan. These revenues will not come back until the wealthy feel comfortable enough with traveling to make overnight and weekend trips by international air travel palatable again. According to research, that recovery could be years away.
submitted by j0j0r0 to ethereum [link] [comments]
Dragonchain Public Proposal TL;DR:Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Executive summaryDragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoCIn The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactionsOn Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
How it works & scales
Architectural ScalingDragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
Economic ScalingAn interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Scaled DeploymentDragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in ScalingDragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table
How to run itBuilding on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
ArchitectureDragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
APIs (on chain & off)
Known issues or tradeoffs
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to considerDragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactionsDragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees
Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Users should be able to view their balances & transactions via a blockchain explorer-style interfaceFrom interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simpleWithdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
Documentation should be clear and completeFor full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
TIMECommunity points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragon DenDragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone elseUsers can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone elseThrough our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offlineIf necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be availableTo our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus pointsSee above
Compatibility with HSMs & hardware walletsFor the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directlyThis operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalableThis is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferredDragonchain is fully open source (see section on Disney release after conclusion).
ConclusionWhether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open SourceThe team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
Open SourceIn 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document
Dragonchain FoundationThe Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
Social Sentiment on Crypto Twitter Does Big 180 as Bitcoin Surges. Martin Young Bitcoin News 10 mins ago Social Sentiment on Crypto Twitter Does Big 180 as Bitcoin Surges. Bitcoin’s new 2020 high over the weekend has rejuvenated social sentiment which has done a complete u-turn according to recent research. There are many technical and fundamental indicators that can give signs as to what ... An investigation by the New York State Department of Financial Services has revealed how the great Twitter hack in July happened. A total of 130 high-profile, celebrity accounts were compromised ... Crypto social media platform Minds has been garnering users who are concerned about their privacy, according to the company's CEO. The open-source platform, seen as an alternative to Facebook or ... Back in July, hackers took control of several high-profile Twitter accounts to engineer a crypto scam. With the 2020 U.S. Presidential election only a few weeks away, the onus is on Twitter and other social media services to adopt even more robust security measures. The Twitter CEO waxing lyrical about Bitcoin is not a new occurrence. Dorsey is ... Twitter, the social media platform that substitutes for Presidential proclamations these days, was hacked a few days ago, with a host of accounts hijacked to promote a Bitcoin giveaway scam of sorts. This wasn’t the first time someone has hacked into a Twitter account. However, what caught the eye of news media across the world […]
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