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NEO’s Biggest Step Towards Decentralization

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NEO has managed to make a big step towards decentralization of its network, and the new development has seen the election of its City of Zion consensus node on the MainNet. Prior to the election, the consensus node has been thoroughly tested on the TestNet for half a year, and everything seems to be working smoothly.

NEO decentralization finally starts

The issue of decentralization is something that a lot of cryptocurrencies, as well as their networks, have yet to achieve. Luckily, NEO has been working tirelessly on doing just that, and one of the largest steps on its way to achieving this is the election of a City of Zion consensus node. Apart from this one, various other consensus nodes were also being tested on NEO’s TestNet, and the vote for those is to be held by the end of the year.

One of these other nodes is hosted by the Netherlands-based KPN, which has announced its intention to be a consensus node host back in January. So far, the company has over 6.3 million customers, all of them with a fixed line. Apart from that, they are also serving over 33 million mobile subscribers in various countries. Finally, they have over 2.1 million customers in the Western Europe who chose KPN as their internet provider.

Another of the independent nodes on NEO’s TestNet is being run by Fenbushi Capital, one of the top 5 blockchain venture capital companies, according to CB Insights. So far, the firm is supposedly invested over $50 million in various blockchain projects. Additionally, Vitalik Buterin, the founder of ETH, also works as their advisor.

These two companies have had their nodes running on NEO’s TestNet for months now, since April of this year.

Reaching decentralization is a delicate process

When it comes to achieving decentralization, NEO has chosen to take a methodical approach. In fact, at some point, it even admitted that it is still centralized, but also stated that it has been working on reaching decentralization. Obviously, the statement was true, and NEO has just made a large step to confirm it.

NEO’s founder, Da Hongfei, stated that the NEO understands that it has to be very careful when approaching decentralization, especially when it comes to consensus nodes. NEO’s protocol is rapidly evolving, and the nodes need to be quick to adjust or to respond to potential bugs or other issues. Because of that, the process of decentralization has been slow, but only for the purpose of doing a quality job.

The additional issue might be the lack of rewards when it comes to running consensus nodes. Instead, the only incentive to do so is the promise of the network’s integrity. Because of that, those willing to run nodes on NEO’s network have it in their best interest to do a good job and ensure that the nodes remain healthy and functional.

What lies ahead?

According to an explanation provided by the City of Zion, NEO has decided to start the process of decentralization by letting various commercial projects, as well as communities, to run consensus nodes. That way, they will form an entire confederation of actors that have a strong interest in ensuring the success of the network. The road to decentralization will be difficult, and the process slow, but eventually, NEO’s network will be less centralized than the majority of other networks.

The additional announcement by NEO states that the timeline of the process was laid out and that it all started with TestNet’s launch that occurred in 2015. Eventually, NEO will open its network for a public campaign, as well as consensus nodes election, that is supposed to be held before 2019. There is even a website made for monitoring the status of NEO’s blockchain, and it can be accessed here.

Naturally, before the election itself, those wishing to participate will have to go through a  special identification process. This is one of the requirements before the access to the MainNet is provided. Additionally, those who prove that they can achieve a certain level of uptime on the TestNet will be considered a capable candidate for the MainNet’s vote.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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