Showing posts with label HOPES. Show all posts
Showing posts with label HOPES. Show all posts

Tuesday, March 15, 2022

Zion Hopes To Decentralize Social Media With Bitcoin’s Lightning Network

Recently, I spoke with Justin Rezvani, the creator of Zion, a decentralized, open-source, utility-based social media procedure that is developed on top of Bitcoin.

The discussion focused mainly around why Zion is required, rather than what Zion is, and I discovered that to be informing about the bigger objectives for the job. The focus was less about selling a item and making a bottom line, and more about the requirement of decentralizing social media as we presently understand it, difficult existing power structures and empowering developers to have direct relationships with their customers while focusing on education.

I hope you delightin this discussion as much as I did.

What is Zion?

Zion is an application developed on the Lightning Network that helpswith developers and their audiences to have a more intimate experience appealing with each other.

Every individual on the network is running a complete Lightning node and it's a real peer-to-peer network. It's not a centralized system. It's not like a conventional site. It's really peer-to-peer nodes, peer-to- peer computersystems, interacting through an open-source procedure, which is the Lighting Network.

How does Zion aid enhance the procedure of running your own Lightning node, and what does that mean for a user experience?

Using Zion is really fast, basically with a one-click checkout and a credit card, you can be up and running, not just having a complete Lightning node that you're running yourself, however likewise having a pre-provisioned channel, all in a non-custodial way, with your personal secrets held on the gadget itself. And I believe that's the development where, you understand, you have this complete sovereignty of your information and you have all of the details saved on that node encrypted.

I think the future of where we're going is this capability of cryptography to be able to protected messages on a non-centralized server in an embellished method and having self sovereignty of not just your bitcoin, however likewise your information.

One secret thing individuals might notification in the setup of a Zion account is that there’s a checkout function, needing a credit card, which does mean that you’re paying for something. This is a bit various from the design we usually see in Facebook, Twitter, Instagram and others. What is it you’re paying for, and why?

You're paying to lease a complete Bitcoin Lightning node. That's what you're really paying for. And then our softwareapplication comes in as a relay, the customized softwareapplication that's developed onto the node, which is complimentary.

So, if you're running your own node, you're more than welcome to go to our GitHub, and download all the relay docs. We have whatever dockerized. You can do that. If you're running your own complete node, the thing is, there's a lot of intricacy with doing that since then you have to figure out, well, how do you produce fixed IP addresses that relocation the domain over rapidly?

These are things that we puton't have support for yet, however if you run your own node, you're more than welcome to do it. So technically when you signupwith Zion, you're not signingupwith Zion. You're not paying to signupwith Zion. You're paying to run a complete Bitcoin Lightning node. And then it has the softwareapplication connected to it that enables you to gainaccessto Zion.

The genuine huge difference is you're not paying to signupwith this social network. It's your own Lightning node. And you're able to do numerous other things with this Lightning node. It comes with a pre-provisioned channel. All of your information is then saved on this node as well. So, it's a little bit various than paying for a social network.

Sovereignty And Censorship

Censorship and information collection are not brand-new issues, however the services for them most definitely are. Bitcoin is an naturally trustless and permissionless system. We’ve started to see the increase of brand-new business, like Gettr, which are appealing not to censor their users. The issue with Gettr is that we location ourselves within the verysame trust systems of the previous, hoping that things will alter.

How does Zion vary from social media platforms like Gettr, and what will this brand-new age of social media appearance like?

The future of social media, veryfirst, it requires to be developed on a financial layer. The 2nd piece is it has to permit for permissionless development, which suggests that it's open source. Next, the procedure has to be focused on peer governance versus platform governance. Next, it has to be censorship resistant, which indicates that the procedure has layers of censorship resistance developed into it.

The next piece is that the developers own whatever. And then the last piece is that there are digital home rights for the individuals that usage the service through fileencryption. You own things through layers of fileencryption. This is my “north star” thesis on the future of social networks. Gettr doesn't meet a single one of those pieces of the network.

What about the huge concern of censorship in today’s social landscape? How do you get kicked off Zion?

Now, the financiers have asked concerns about prohibited things occurring and what do you do if prohibited things takesplace? And the reality is [that would only apply] if we have a legal notification stating this is an prohibited act, and if we are insomeway hosting the node, which is extremely notlikely, best? Let's simply put a circumstance together, here.

If somebody's doing something nasty on the web, do you believe they're going to go to have a hosted node with a service to go do the nasty things that they're attempting to do? Probably not. They're mostlikely gonna self host it in their home. But the sincere fact is that, you understand, we will abide by any legal requirement that's put towards us.

Platforms Vs. Protocols

What is the secret distinction with Zion as a energy procedure, rather than being a social media platform?

If individuals appearance at us and state, “Oh, Zion, simply another platform,” you're naturally incorrect about our innovation. We are a procedure energy layer that permits nodes to peer-to-peer interact with each other.

You have your own node. You're not sitting on Zion. That's your node. You're purchasing a node, self custody of your info. You may be running it at house, your own server at your own home. We are simply a webbrowser to gainaccessto that details, ideal?

If 2 individuals talk, like calling each other on the phone, are you going to blame AT&T since they had the pipeline sitting under the ground and that enabled a phone call to occur? Of course not, you would neverever state that!

The factor this prohibited activity occurred was duetothefactthat of AT&T phone lines below the ground, that'd be the most unreasonable thing to state, best?

It's somebody's own sovereign phone and somebody else's sovereign phone and they're talking to each other throughout the web. And I believe that's the exactsame experience that we're talking about. Zion is not a platform. It is procedure, layer rails that let nodes interact in a peer-to-peer method. That's the distinction.

Conclusion

Big information business haveactually recorded our identities as the most important possession in a digital age while bearing down on their users with their own viewpoints about the method we, as a society, must act or share details. Freedom and sovereignty are core perfects to Bitcoiners, and I do think the folks at Zion keep these worths at their structures.

What is the future of this vibrant and how does Zion fit in?

I think that the future of where we're going with audiences is the next layer of the developer economy, which is you can now be a expert customer of material, which indicates that if you're part of a neighborhood and you post a actually amusing meme, other individuals can pay you in that neighborhood for that.


Read More. https://bitcofun.com/zion-hopes-to-decentralize-social-media-with-bitcoins-lightning-network/?feed_id=10913&_unique_id=623061508827a

Friday, March 4, 2022

New Cardano DEX Hopes to Overcome Chain’s Scaling Woes

Key Takeaways

  • AdaSwap hasactually raised $2.6 million to construct the initially operating decentralized exchange on Cardano.
  • To prevent the scalability concerns associated to Cardano's EUTXO-based style, AdaSwap will construct on a Layer 2 procedure.
  • AdaSwap likewise prepares to launch an NFT market called ADANFT.

AdaSwap, a brand-new community contractor on Cardano, revealed Tuesday that it had raised $2.6 million to construct “the finest, decentralized exchange on Cardano.”

AdaSwap Raises $2.6M to Build First Working DEX on Cardano

A brand-new decentralized exchange job is hoping to conquer Cardano’s scalability problems.

AdaSwap, a task intending to construct an NFT market and the initially working decentralized exchange on Cardano, revealed Tuesday that it had raised $2.6 million in a financing round led by angel investing platform iAngels. Multiple endeavor capital companies and private financiers have gotinvolved in the round, consistingof Shima Capital, Pluto Digital, GBV, Stardust, and starlet and manufacturer Gal Gadot.

According to a Wednesday press release, AdaSwap will usage the financing to “deliver on its objective of structure the finest, decentralized exchange on Cardano.” Despite being the ninth-largest cryptocurrency on the market, Cardano hasactually lagged behind other completing Layer 1 tasks in environment advancement. Its blockchain is EUTXO-based and architecturally much moredetailed to Bitcoin than to Ethereum, significance it’s considerably harder to code clever agreements and develop scalable decentralized applications on it.

As a result, Cardano is yet to see its initially working decentralized exchange, even however such applications have existed and operated perfectly on other Layer 1 blockchains for anumberof years now. Instead of taking Cardano’s concurrency concern head-on, AdaSwap has chose to develop its decentralized exchange on a Layer 2 procedure. “By structure our wise agreements on a Layer 2 service for Cardano, we are able to package and procedure deals on the Layer 2 while removing the long processing times that SundaeSwap is suffering from,” AdaSwap informed Crypto Briefing.

While Adaswap is structure a workaround for Cardano’s EUTXO issues, it is not the initially decentralized exchange to launch on the network. SundaeSwap, another popular decentralized exchange to launch on Cardano, hasactually dealtwith blockage concerns due to deal throughput constraints enforced by the Cardano-specific problem of “concurrency.” Concurrency refers to the capability for several various representatives to connect with the exactsame clever agreement atthesametime. On Cardano, this capability is extremely restricted, making it hard for designers to develop applications that rely on greater deal throughputs to function correctly.

“Sundae went live understanding the concern, while we rotated our advancement seeing the hold-ups from the Cardano Foundation concerning a repair or the Hydra upgrade,” included AdaSwap. Further commenting on Cardano’s architectural restrictions, the group reacted favorably, stating: 

“Cardano’s UTXO design is really interesting for us; there are a lot of decentralized applications that sanctuary’t been believed of yet that can be produced on it in a really effective method. With that stated, standard dApps as we’re utilized to from other blockchains, for example, EVM-based ones, have a lot of distinctions that puton’t permit for simple dApp porting.”

AdaSwap stated that it has a “complete option” for its NFT market ADANFT and “a method around” Cardano’s concurrency concern for its decentralized exchange. Since introducing the Alonzo wise agreement upgrade last September, Cardano’s native token ADA has plummeted 69% from its all-time high rate of $3.09 to its existing rate of $0.94.

Disclosure: At the time of composing, the author of this piece owned ETH and anumberof other cryptocurrencies.

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Read More. https://bitcofun.com/new-cardano-dex-hopes-to-overcome-chains-scaling-woes/?feed_id=9366&_unique_id=6223160333c51

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