Hello! This is the 6th edition of our weekly overview of various cryptonetworks, contributing to the future of modern technologies. Today, the central theme of the update are DAG-based projects. DAG stands for “Directed Acyclic Graph.” The system doesn’t look like a chain, but (as the name suggests) more like a graph. There is an opinion that the DAG model may substitute blockchains thanks to a more effective structure for storing data and processing transactions online. Instead of storing data in blocks, its framework uses nodes and groups of nodes that can be developed simultaneously. DAG implementations are still relatively new. However, the cryptocurrency ecosystem has seen several projects using the framework successfully. Some of them we will be able to cover today. So, let’s get acquainted:
Constellation is a software infrastructure tool that removes the financial and organizational cost of insecure data pipelines and bad data. It provides a secure and tamper-proof audit trail that simultaneously validates your data, allowing early visibility for data management teams into downstream issues — preventing bad logic across automated systems.
COTI is an enterprise-grade FinTech platform that enables cross-chain interoperability and is built on its DAG-based chain. It supports scalability and low transaction costs and is supplemented with payment-specific requirements in the form of COTI Pay, a digital payment solution. COTI Pay empowers enterprises and merchants to receive multiple payment methods and build their own payment networks and Coin as a Service (CaaS).
Fantom is a series of technology components that, when combined, form a technology stack that allows a broader ecosystem of applications to be built on top of them. Their focus is on developing the Lachesis asynchronous Byzantine Fault Tolerance (‘aBFT’) and TxFlow consensus mechanisms.
IOTA was among the first start-ups to implement the “blockless blockchain” back in 2016. It uses a network of nodes and “tangles” (groups of nodes) to speed up the validation process. IOTA stands for Internet of Things Applications and aims to provide near-instant transactions with zero fees for the users. It’s maybe a cost-effective solution for micro-payments with cryptocurrencies.
Nano has a network of independent blockchains that are connected through nodes. The technology is called block-lattice and is a mix of the DAG-based framework and the traditional blockchain. In Nano, every user with an individual wallet gets a blockchain and is the only one who can operate changes on it.
Enjoy!
Constellation
To learn more about $DAG, visit an official page.
- Upcoming Token Swap — A swap date has been set for Wed 29 April 2020 6am UTC (Estimated Ethereum block height: 9966936)
After the launch ERC20 DAG tokens will migrate from the Ethereum Blockchain to the Constellation Main net chain. All previous ERC20 DAG tokens will become native DAG tokens by means of a token swap.
The token swap ratio between ERC20 DAG and Mainnet DAG is 1:1
The swap will happen in two ways depending on what option you chose:
- Swap on Kucoin exchange. In this case, you don’t have to do anything you just leave/send your DAG to Kucoin. They will be swapped automatically from ERC20 to mainnet DAG.
- Manual Swap via smart contract. Explained in detail below. If you don’t trust an exchange or you have no exchange account this is your method. Please read the instructions carefully.
- Constellation tweeted “Such a great experience in the DCode program. The amount of insights, new contacts and friends we made in the program are amazing. Our team is proud to be part of the DCode family!”
- DAOMAKER regular weekly series:
- DARK MODE for the Molly Wallet added:
- The brand new Constellation DAG gift store. Check out the very cool high-quality merch Cryptoranium has produced. The first packages have been shipped today.
COTI
To learn more about $COTI, visit an official page.
With a successful pre-registration and overwhelming interest in KuCoin’s COTI staking program, there is now more demand than supply for the new COTI staking 2.0 program. With over 700 users and a total of over 200M COTI requested to be staked, this new model will ensure that more users are able to join in with a higher staking volume.
The official registration to join the COTI Staking program is now made available through the COTI website or from a COTI CPS account. Staking itself is initiated directly from within the user’s wallet and from there only.
- COTI network uses a transparent and equitable fee model. All fees are collected by Full Nodes, operated by the COTI community and serve as the basis for stakers’ rewards
- Starting June 1st COTI will allow node operators to define their own fee rates given the guidelines described below (change it from the current default fee rate: min(0.01%, 25 COTI)
- The rates set for the nodes can be changed every 3 months
- Information about how rates are calculated and a sensitivity analysis are provided below, to help node operators optimize their fees
- The COTI staking program on KuCoin has reached its cap in less than 5 minutes! The Staking campaign via Pool-X has been an absolute success with the first pool of COTI-90 filling up in less than a minute after the subscription started! See post.
- COTI to be listed on Coinbit — COTI will be listed on Coinbit, a Korean cryptocurrency exchange. Active trading will begin on April 27th, 2020. Recently COTI has launched its MultiDAG protocol, which allows enterprises to build upon a network they can truly trust and scale. Listing in Korea is part of COTI’s strategy to expose itself to Korean enterprises that can leverage from COTI’s MultiDAG.
Fantom
To learn more about $FTM, visit an official page.
- Top 10 Low Cap Blockchain Projects by Github activity in the last 30 days. Rating is based on Activity Rank index by CoinCodeCap, which is based on number of active authors, commits, and code releases on Github.
Quan Nguyen, Andre Cronje and Michael Kong have proposed a new smart-contract programming language, Object Validity (OV), that allows for concurrent executions within smart contracts. This approach increases the throughput and efficiency of smart contracts in distributed ledger networks by pre-checking the invariants (properties that do not change regardless of an object’s state) of different objects and ensuring the functions do not violate them during execution. If there are no violations, then the smart contract can be executed concurrently without waiting for the network to validate each stage.
Check out the full paper here at Cornell University’s arXiv library!
- Fantom Foundation Runway by Michael Kong.
In the last report on Foundation Runway in April 2019, Fantom disclosed that it had funding for around two years. Currently, Fantom has a runway for approximately three and a half years. Fantom was able to hedge by diversifying the assets, moving Bitcoin and Ether into a number of different stablecoins. Consequently, the treasury now has approximately $5.4million worth of crypto and non-crypto assets, of which approximately $4.85million are in stablecoins and fiat, with the remainder in Bitcoin and Ethereum. Fantom’s stablecoin holdings are earning interest in Ethereum’s various Decentralised Finance (“Defi”) platforms. The total headcount for the Foundation is twenty-eight, of which fourteen are for research and development, thirteen for marketing and business development, and the legal counsel consists of Fred Pucci, a solicitor. The total expenditure is approximately $133k per month. If market conditions improve, the runway for the Foundation should increase.
- Technical Update 20 — Fantom has continued to develop additional functionality and security to the network; for example, by extending their work to make Lachesis ABCI-compatible. This will allow Lachesis to have Tendermint-like functionality with the ability to plug into different services, thereby offering Lachesis as Consensus-as-a-service. Read more on their research and development efforts via the link above!
- FantomVision PWA: Official Fantom Explorer — FantomVision is the new-and-improved explorer that makes use of their high-performance GraphQL API. Now you can install the explorer and make it a permanent fixture on your taskbar with just a few clicks.
IOTA
To learn more about $MIOTA, visit an official page.
- Documentation is an important part of what they do at the IOTA Foundation. That’s why they are applying to take part in Google Season of Docs as an organization! Read about it and learn how to get involved.
- From Coordinator to Coordicide — Darcy Camargo, from their Research Team, gave a general outlook on some of the Coordicide main concepts at the last IOTA Argentina MeetUp. Watch it via the link. Really interesting talk with clear concepts for those who are trying to understand how the future IOTA Protocol will achieve consensus.
- University of Zurich Blockchain Center is glad to announce that IOTA will be part of the upcoming Summer School “Deep Dive into Blockchain”. Learn how the Tangle will power the next generation of IoT frictionless payments.
- The present & the future of urban commuting is electric, but autonomy is still a barrier for it to become scalable & mainstream. The IOTA Community project of this week aims at solving this issue via a Renewable Energy Charging Station Network. Learn more here.
- Dev Status Update — April 2020:
- Chrysalis — The research and engineering teams, together with the Hornet team, have been working on finalizing the specifications for the first Chrysalis changes. The remaining Chrysalis specifications will be drafted in the upcoming weeks and the goal is to finalize and merge them into the protocol-rfc repository in May. Autopeering, also a part of Chrysalis, is already being tested in the Hornet node software. The plan is to include autopeering already in the next Hornet release.
- Bee — The team is finalizing the work on the first Bee prototype. The team has been working on the last pieces of the puzzle: the milestone detection and tangle traversals. In the internal tests, Bee has already solidified its first milestone. The prototype will be released and available for testing in May. The main goal is to finish milestone detection and tangle utilities which will allow full solidification of the node.
- IRI — The team released IRI 1.8.5 last month. The version included important bundle validation rule changes that addressed potential vulnerabilities. The team is now focusing on the next minor version, IRI 1.8.6. This version will mainly include new solidification logic and other fixes, for example, taking local snapshots should be faster than before.
- Smart contracts — As announced last week, they have shifted the attention to developing a new Smart Contract approach as a layer 2 solution building on Coordicide’s development in GoShimmer. They plan on releasing a more detailed post on the developed solution in the coming weeks. A brief introduction can be found here.
- Trinity — A recent focus has been on building a PoC app and website to demonstrate the possibilities of the Unified Identity Protocol. More info will follow on this project. On the Trinity side, the team has been closing out issues, updating dependencies and resolving some friction points. Finally, the team has continued planning for the wallet after Trinity. A Jobs to be Done workshop was held to ensure the spec meets current and future user needs.
- GoShimmer — The GoShimmer team is currently working on developing further components that will support value transactions with a conflict resolution by the connected FPC protocol. You can read more about the development in the last research update.
- IOTA Streams — they recently released the first alpha version of IOTA Streams (previously MAM).
- Permanode — The team is now finalizing CLI functionality for the new permanode and will focus on solidification next. They have also reflected in the roadmap the fact that the team decided to make use of the Rust Tokio runtime instead of developing a custom runtime for the permanode. The Tokio runtime proved to be sufficient for the current implementation. The current goal is to have the new version of the Permanode released at the end of May or the first half of June.
{Roadmap updates}
They have made some more significant updates to the roadmap as well as adjustments to general timelines of different projects. The highlights are:
- The Qubic section has been changed to IOTA Smart Contracts. The section now displays the finalized Qubic PoCs and will focus only on IOTA Smart Contracts going forward.
- Permanode — optimized permanode runtime has been canceled. The initial implementation of the permanode will be built on the Tokio runtime.
- MAM has been renamed to IOTA Streams.
- The IOTA Streams alpha implementation has been marked as complete. The subsequent developments, fixes, and changes are towards the C and Rust implementation items.
Nano
To learn more about $NANO, visit an official page.
- Nano team loves to see people contributing from within the NanoCommunity and encourage all techies and non-techies alike, to join in on the conversation and find activities that interest You at the NanoForum.
- NANO is now available on the new Binance Widget, where users can easily purchase Nano via a range of fiat currencies, without leaving partnering websites and platforms. You can join the Partner Program, integrate the widget, and start earning rebates today!
- Nano Foundation — CryptoFriendly AMA Recap — read a lot of interesting questions from the meetup with the CryptoFriendly community on Telegram for an energetic and engaging Q&A session. A huge stream of great questions filled the chat and they endeavored to answer as many as possible, you can find them all via the link above. If you have any additional questions or wish to continue the discussion, you can find the Nano team on the Nano forums, Telegram channel or Discord.
- It’s hard to overstate the value of having a range of practical tools to help developers build on the Nano. Navigate the broad selection and easily find the right $NANO tool for your needs using their newest resource.
- Nano Charts V1.13 has been released! More accurate data and a new pie chart await the $Nano community. Read the announcement post for full details.
- NANO CoinGate integration is a practical solution for merchants to accept NANO on their website, with all transactions automatically settled to EUR USD or $NANO.
- All the customers are now welcome to buy or exchange $NANO on SimpleSwap.
- Daily General Discussion — April 24, 2020 on Reddit — This Daily post is meant for things that are relevant, but do not justify their own post. For example, debates, issues, simple questions, memes or suggested services/ companies/ cryptocurrencies/ etc.
- NanoPvP Major Update — With the help of Ty and PlasmaPower from Nano Discord, one of the developers has deployed a number of major updates to the site that he goes through in this post. These updates include a new provably fair system, new POW system, unique deposit addresses, and fiat display.
- OneFastWay v2 BETA — All in one platform for NANO
What’s new?
> Open Source UI
> built from scratch
> earn nano mining other CRYPTO
> NANO wallet
> Nano brain wallet
> Anonymous, No Email Required !
> Dice Game
> 10 + new games coming
That’s all for today!
Feel free to share your feedback about the format!
