Bitswift Community Update- November 2019

Bitswift.press
Nov 15, 2019 · 7 min read

Hello everyone,

Welcome to another edition of the Bitswift monthly community update. The place to catch up on all things going on at Bitswift. This month we will follow up on the outcomes of the Hack for Heritage event and learn about some exciting new developments regarding bitswift.cash, and the LZLZ forging pool products. Are you ready? here we go!

Hack4 Heritage (Hackathon)

Hack for Heritage

Last month we announced that Bitswift would be attending the Hack for Heritage event hosted in Kingston, Ontario, Canada. The goal of this hackathon was to create a mixed reality experience that relates to heritage. With that, Team H4H Bitswift was formed consisting of Alex, Elizabeth, Tosch, and Paul.

Paul | Alex

Our idea for the project was to preserve heritage information on the Bitswift blockchain and utilize that information in our VR app experience. We did this using the decentralized data cloud feature on the Bitswift blockchain. The data cloud makes use of Archival node services. Archival nodes on Bitswift maintain a complete copy of the full ledger since the genesis block while normal operating nodes prune this data over time by design to reduce blockchain bloat.

A blockchain-based decentralized heritage register might make sense, as it turns out by law in Ontario municipalities must maintain an accurate record of designated heritage site information. If you want to see an example of the information contained in the municipal register check here:

https://www.cityofkingston.ca/documents/10180/39676/Heritage+Properties+Register/5c73e32e-29db-4c8a-a67a-9fa708faf940

Rather than store the information in a centralized database, the register can be published into a public blockchain where it is preserved securely across many computers. The register inherits transparency, 100% availability, audit trail, security, and the absolute preservation of information. All of which are essential parts for preserving accurate heritage information.

For our project, we digitized information relating to three local heritage designated sites. The sites chosen were Fort Henry, Kingston City Hall, and the Kingston Penitentiary. Details for each site were uploaded into the Blockchain in the form of a “heritage data packet”. The packet described the individual sites related heritage information such as what designation the site holds and the site address among other things. We also uploaded images of these sites into the blockchain so that information could be preserved and its state maintained while making it available to external applications. Our VR experience had the user start in a “map” room where they could choose to teleport into each individual site. Doing so brought the user into the related room where the user was surrounded by media, pictures, and information relating to the specific heritage site, very much like a virtual museum consisting of multiple virtual exhibits.

All in all, it was pretty amazing what we were able to accomplish in basically one day’s worth of time. We had a lot of fun and we are eager to see how we can develop the project further.

If you would like to learn more about preserving heritage on the blockchain and our VR experience, perhaps check out our presentation available you YouTube here: Direct Link

Hack for Heritage — Preserving Heritage on the Blockchain

If you want to try out our experience for yourself, feel free to download it here:

Bitswift Project — Preserving Heritage

You will need Windows Mixed Reality installed for SteamVR and a compatible VR Headset on so you can enjoy the full experience.

LZLZ Forging Pool

As some of you may know, Bitswift operates an Ardor forging pool as a key element of its ecosystem. You may be excited to know that we are completely revamping the pool. First of all, we are going to make it much more transparent. Secondly, we are going to make it much more profitable for the forgers. Finally, we are going to make it more accessible by integrating it more so closely into the network explorer and Bitswift.cash gateway.

If you want a sneak peek at the new LZLZ pool stats check the new block & market explorer here:

Nimble Explorer

Click on the Forging Pool tab:

Transparency:
Above you can see we have added many new stats, including the ability to drill down right into each block our pool has forged to see what transaction fees may have been included in that block. Forgers can also see stats relating to their weight in the pool along with real-time stats on rewards gained throughout the month.

Profitability:
Forgers will now earn Bitswift tokens on top of their regular Ardor earnings from Bitswifts pool. In addition to this, the payout threshold will be reduced from 10 to 5 Ardor tokens, meaning forgers can earn rewards more frequently. To top it all off, the payout fee will be reduced from 1 Ardor to 0.5 Ardor tokens, meaning when forgers receive a reward payout they will be left with more of that hard-earned crypto. Expect to see all these changes in next month’s (December) schedule. A reminder rewards execute on the 15th of each month, the same day these community updates go out.

There is no risk when leasing your balance to Bitswifts pool, you maintain control of your assets in this p2p economy, so why not participate with others in the community and forge on the LZLZ pool to earn some passive crypto-rewards.

Still not sure what to do? Check out this how-to we wrote awhile back, but it is still relevant, so give it a shot!:

A guide to Bitswift LZLZ Pool

Bitswift.cash 2 (Nimble) Update- BTC integrated, BTC/BITS market open

We’ve been regularly updating our community regarding developments of Bitswift.cash 2 (Nimble) platform and this month is no different.
We are happy to announce that the entire integration between adding the Bitcoin chain (BTC) to Bitswift.Cash has finally been finished. We are still doing some testings to be completely sure that nothing can go wrong regarding the imports and exports of assets, account creations, etc, balance updates, etc, but we have accomplished a huge milestone with hooking up an external chain so that BTC can now exist and be utilized directly on the Bitswift blockchain.

It took us longer than we expected, but nevertheless, we are very close to the goal that we visualized ever since Bitswift tokens were delisted from Bittrex. The goal being to always ensure Bitswift community had an available BTC market by integrating BTC directly into the p2p exchange built into everyone’s blockchain account. This way the community is not relying as much on 3rd party or external services and can trust each other by way of the protocol.
Bitcoin (BTC) now exists on the Ardor platform Decentralized Exchange as Bitswift Bitcoin — BBTC (asset ID: 13045451260956193623). Make note of this asset and do not confuse it with any others claiming to be BBTC or BTC. Users can trade BBTC on the decentralized exchange through their blockchain accounts once they import Bitcoin (BTC) through the new Bitswift.Cash 2 gateway service. The gateway pegs external assets providing a gateway service from native chains to Bitswift blockchain and back.

1 BBTC = 1 BTC

The current BBTC market on Ardor is now live and ready to trade on the p2p exchange. Currently, there are markets for IGNIS/BBTC and BITSWIFT/BBTC, where BBTC assets can be exported to BTC native chain in 1:1 manner directly through Bitswift.cash crypto gateway service. It is important to note that all trades and order executions happen directly on the blockchain and in a p2p manner. Bitswift.cash does not handle any trade or order book requests, rather it only provides an accessible interface between different blockchain protocols so that data communication can exist between them.

BTC / BITS Market on Decentralized P2P Exchange

Here is a quick and simple tutorial for adding BBTC market to your Bitswift blockchain account so that you may use Bitcoins on the Bitswift blockchain.

Step 1. Go to https://bitswift.network/ or use your favorite Ardor client and access your blockchain account

Step 2. Click on the Assets field which can be found on the Figure below.

Step 3. Click on Add asset just as according to the Figure below.

Step 4. Enter the Asset ID for BBTC which is: 13045451260956193623

Step 5. The asset should be seen right below the Asset Exchange sign and you will be able to trade it and see the order book once you click on it.

BTC asset (BBTC) on Bitswift Blockchain

That is all for this months update, be sure to check in next month for more juicy details regarding some other blockchain based products we have been working on.

Here is a Spoiler

Social:

Please join us on other social platforms to support the development and help the community grow.

Telegram: https://t.me/joinchat/GDyWfBFOddCYFBYhDoRrpA

Discord : https://discord.gg/zRRvMHN

Reddit: https://www.reddit.com/r/Bitswift/

Slack: https://nxtplatform.org/slack/

Closing Quote:

Wise men say, ‘forgiveness is divine, but never pay full price for late pizza’!

Michelangelo

Bitswift.press

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Official news relating to Bitswift digital ecosystem.

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