Token Daily

BAT tipping is covered at the end of this step-by-step guide to Brave. It's very simple to do when on a website you want to tip -- press the Brave Rewards icon, select the tip button, select the amount to tip and whether to tip once or monthly, and send tip. Very easy.

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TotesMessenger 1205611 karma | Karma CC: 11 7 hs ago

I'm a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

[/r/reddcoin] RDD development when?

 ^(If you follow any of the above links, please respect the rules of reddit and don't vote in the other threads.) ^(Info ^/ ^Contact)

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AutoModerator 7 hs ago

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_0_1 10 hs ago

Is there a tip bot for BAT?

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wolfwolfz 16484 karma | Karma CC: 147 BTC: 47962 GNT: -12 ET 12 hs ago

Meh tipping, we had all that jaz with doge, reddcoin, changetip, etc.. nothing groundbraking.

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prevail_ Karma CC: 3136 5 hs ago

This is actually huge though because brave is a browser. There is not any extra work people will have to do. This will create adoption because anyone can download brave and accept crypto. Can you imagine all across social media, people making money just for the quality of their content. It's brilliant.

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erhoo Karma CC: 25 7 hs ago

Those coins have no significant dev development

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sweetb0y 8 hs ago

comparing doge to BAT is retarded, sorry

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FourthSynd 12 hs ago

It's building its momentum so that they won't fail to surprise us.

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TheGreatMacsby Yesterday

Why repost the same news from yesterday?

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_o__0_ Yesterday

Geez dewd. This is one to watch out for. Their plans are concrete, soon, and huge. Given how they have delivered with the browser so far, it seems like they are on top of shit.

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trampabroad 110392 karma | Karma CC: 3002 BTC: 509 Yesterday

"sometime in Q4"

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happyscrappy IT Specialist Yesterday

'After selling the tokens, Giga Watt converted the cryptocurrency it collected into dollars, which the company then used to finance the construction of mining pods, Turner said.'

What now? Why would anyone want to sell their currency of the future for useless fiat? Oh, that's right, because you can't pay for anything with internet funbux.

They didn't even get all their pods up and running. So basically they ripped off their ICO customers and they're still going out of business due to losses.

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SnoweCat7 Yesterday

Most of the ICO customers paid with crypto so don't feel too sad, and those that didn't learnt a hard lesson about dodgy speculative assets. Hopefully the builders and land owners received all of their payments though. Think of it as moving imaginary wealth back into the real world.

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zClarkinator 24689 karma | New to crypto Yesterday

More like, collapsed outright. After raising $47 million, they are now $5 million in debt, and construction of their 'cryptocurrency campuses' have stopped. The money woes are a combination of money they gave to contractors, which have fallen behind schedule and went over budget, and lawsuits from the company's owners/investors (these people have raised roughly $25 million) due to the company's decision to raise funds by releasing an ICO (producing $22.6 million). Evidently, the ICO money didn't last long and ended up biting them in the end. I can't speak for the validity of the lawsuits, but regardless, it's costing them a ton of money.

The original CEO stepped down, and 80% of their staff is laid off. Doesn't look good for this company.

Edit: This article also mentions the rising costs of electricity, combined with the falling cost of Bitcoin and other coins since earlier this year, as a major cause for the company's lack of revenue and difficulty securing funds.

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JeanneDOrc Yesterday

I see they’ve moved to selling shovels in Wenatchee. The locals are suspicious of any industry that’s not apples, so I wonder when they’ll get ran out.

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paximperius Yesterday

In Grant County alone, miners requested approximately 1,500 megawatts of power — or nearly three times as much as the county’s residents and businesses were using, said Grant County PUD spokesman Ryan Holterhoff. Chelan and Douglas counties have also seen a surge in demand from prospective miners. A megawatt is enough to power around 600 homes. At Giga Watt, Carlson’s pod project was slated to use 30 megawatts.

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PatrickBitmain Yesterday

All that wasted money and energy to fill Bitmain’s pockets and verify darkweb transactions.

Even a McDonalds job is more noble and profitable than this.

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SnapshillBot Yesterday

It won't be long until bitcoin is an everyday household term.

Snapshots:

This Post - archive.org, megalodon.jp*, archive.is

^(I am a bot.) ^([Info](/r/SnapshillBot) ^/ ^[Contact](/message/compose?to=\/r\/SnapshillBot))

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Sir_Panache 2 hs ago

right next to "ponzi scheme" snappy

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LetgoCrypto 50 mins ago

Love Charlie Shrem.

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JoeyLnix 52 mins ago

Amen 🙌🏻

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ABitcoinAllBot 1 h ago

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: LetgoCrypto

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7serpent 4 months old | Karma CC: 145 3 hs ago

Liberty is not the same as Libertarianism. Libertarianism is a far right wing philosophy based on individualism. In essence it is the Law of the Jungle. The Law of the Jungle inevitably leads to Fascism and then Nazism. Is that what you want?

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mdh11583 Positive | 7 months old | Karma CC: 563 4 hs ago

Except we constantly call for government interference into crypto.

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f7ddfd505a 7 hs ago

We already gave it back by leaving people in charge of the protocol that think you can better use credit cards than cryptocurrency for payments. Luckily there are other cryptocurencies that can still offer this freedom. But the community needs to stay vigilant that other projects don't also turn into fiat 2.0.

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Buttoshi Redditor for 30 days. 4 hs ago

There's no leaders in this space.

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TadojinFarms Positive | 3 months old | Karma CC: 93 BTC: 261 7 hs ago

Huh? That sounds like an altcoin bro. Bitcoin is open source anyone with technical skills can contribute and can be reviewed by anyone with technical skills. The reason other altcoins fail is because they are driven my profit or they fail to realize why Bitcoin is unique. Bitcoin has no CEO; no sponsors to satisfy. It was created in a decentralized way and it is maintained in a decentralized way. It’s controlled by no one except everyone one of us who is interested in being part of a network that gives you true freedom.

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Gr8WallofChinatown Negative | 40009 karma | Karma CC: 5046 5 hs ago

Except it’s not. It’s controlled by Chinese and Russian mining farms. It’s not for the people anymore

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Buttoshi Redditor for 30 days. 4 hs ago

What can they do besides order transactions? Go ahead and kill them and Bitcoin lives on. It's decentralized in that there's no one center to take it down

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Edgegasm 31445 karma | Karma CC: 5631 NEO: 5270 3 hs ago

Besides order transactions? They can pick and choose whatever transactions they please. They can censor the network, drive up network fees, block addresses entirely. You need to trust them not to do so. Those who create the blocks control the network. Decentralization meant having so many people creating blocks that this kind of manipulation would be rendered pointless. Having a handful of pool owners crafting blocks between themselves is centralized. Frankly right now FIAT is superior simply because there are legal ramifications to tampering.

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pale_blue_dots Redditor for 22 days. 1 h ago

One reason I've been looking into and rooting for coins that are ASIC resistant, etc... and possible to mine on phones and basic CPUs.

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JoColo610 Yesterday

great article, thx

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sedidycuhT Yesterday

How long till I can withdraw from binance??. Getting ridic

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pietiose Yesterday

Could it be also used to reduce the time between blocks to have like 30s ?

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fluffyponyza XMR Core Team Yesterday

Nope, that's due to the latency on the Internet all over the world.

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ArticMine XMR Core Team 4 hs ago

The speed of light between the Western Cape in South Africa and British Columbia in Canada becomes a significant latency factor with the time between blocks in the 15s, 30s range. So if I were to mine a block in British Columbia on top on one mined by u/fluffyponyza in the Western Cape we would run into problems.

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midipoet Yesterday

stupid internet; slowing down money.

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SpontaneousDream Yesterday

Optional privacy (Zcash) is not true privacy.

Zcash is also not decentralized in the slightest bit: https://opencorporates.com/companies/us_de/5638987

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thethrowaccount21 Yesterday

Hi, the monero community tends to claim this. However, did you know that Monero also had optional privacy? Originally monero had 0 mixin txs and txs with 1 mixin on up. However, having these 0 mixin coins on the blockchain deanonned the higher mixin txs because 0-mixin txs let you know which mixins are real and which are fake. Because of this the 'real' and 'fake' address spaces in Monero were linked. Thus, the monero community, burned by their implementation of optional privacy begain saying that optional privacy is not true privacy, and they began repeating this narrative about other coins whose transparent address space was completely separated from their private address spaces. But this only applied to Monero's blockchain. So my question is, if optional privacy is not true privacy, why did Monero have optional privacy for 3 years?

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Dambedei Yesterday

Monero was always private by default. You had the choice to opt-out, which is very different than "optional privacy".

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thethrowaccount21 Yesterday

> You had the choice to opt-out, which is very different than "optional privacy". How is that relevant? Monero had optional privacy you could choose 0 mixin txs or you could choose higher ones. Even if the default in the wallet was a certain setting, that doesn't change the fact that Monero originally had optional privacy. If you chose 0-mixins you used your option to not be private. Hence, optional privacy. 'Private by default' usually refers to the idea that **you cannot opt out of privacy** i.e. by choosing 0 mixins. That's why the ring size is fixed and there was a default floor set earlier. You're conflating that with having a default setting in the wallet.

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markfakelastname 9 hs ago

The word “default” is not a synonym for the word “mandatory”. Mandatory is certainly better, but even private by default led to a much bigger percentage of people using monero as a privacy coin than zcash even today. It also makes it so that those using mixins have a form of plausible deniability from sticking out as a person that considers privacy essential for their transaction. This is something that zcash doesn’t have. The minority of users opting into privacy stick out for zcash and any other coin that uses opt-in privacy. Zcash is far from useless, but until privacy is at least the default, privacy for those who choose it is very lacking.

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thethrowaccount21 7 hs ago

Look, we can argue over semantics all day. The simple fact is that when Monero had txs with a ring size of 0, *whatever you want to call that*, they had the same thing that your community says makes ZCash, Dash and PIVX less private. Even though those blockchains *didn't have the same thing* that made Monero *not private* (traceability and linkability issues). There is NO difference between a private tx on Monero and one on ZCash, Dash or PIVX. Because optional privacy only broke the Monero blockchain due to a flaw that ONLY the monero blockchain had. Thus, it is disingenuous to claim that 'all optional privacy' is bad. No, just Monero's was.

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Dambedei Yesterday

Opt-out means the majority will use the privacy features. Literally the opposite of DASH/Zcash, where they prefer opt-in. You can call it optional privacy if that makes you happy :D

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thethrowaccount21 Yesterday

Yes I will because that's the definition of 'optional'. You are trying to conflate this opt-out/opt-in thing with optional privacy when they're not related.

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Hemlck Yesterday

How is optional privacy not real privacy? I support both Monero and Zcash but I don't understand how people just blatantly brush off Zcash without understanding how Zk-Snarks works. This is just blatantly false.

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Vikebeer Yesterday

>\#Bulletproofs is one the most important technologies deployed on a mainnet this year. It can be applied to many If you have any understanding of the origins of crypto then you would understand that a Trusted setup is a COMPLETE non starter in **EVERY** usecase NO MAtter What.

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Dambedei Yesterday

Even if you want to use zk-SNARKS you probably can't because no exchange/vendor does accept private transactions. What's the point then? If you want to use zk-SNARKS as a mixer (because it's currently the only remaining option) you're doing it wrong: > It is valuable to understand how much privacy is lost when using shielded addresses as a pass-through mechanism, but using it in that way is not recommended. Instead, store your Zcash in a shielded address. When paying someone, send Zcash from your shielded address to their shielded address. [source:zcash](https://z.cash/blog/maintaining-privacy/)

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ciroluiro Yesterday

The idea is that privacy-minded users stand out on an optional privacy blockchain. Making privacy the default setting makes everyone using the network the same and thus much more private. Tor works under this principle to make their users anonymus. They try and make all tor traffic look the same.

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akuukka Yesterday

Does it really matter if there is a transparent part of the same blockchain in case you NEVER touch that part at all? Why would someone using only stealth addresses have to worry about his privacy?

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100RoundCup Yesterday

Of course it does, why do you think Monero has a mandatory mixin size, that's been increased before? In an idea secure network, all transactions look the same. In a perfect solution, all transactions look like gibberish. Zcash has noticeable patterns right off the back because transparent transactions are noticeably different from private ones. So when someone is trying to de-anonymize you, there is one more detail they can filter. So if someone is looking to de-anonymize a private transaction, they can safely ignore transparent addresses. Your security is compromised because other transactions on the network don't help to secure your transaction. You have to look at security as a whole, it's strength is directly tied to the volume of transactions of the same group. Currently, most transactions on Zcash are transparent, meaning the search for a private transaction is relatively small. Every transaction not helping conceal your tracks on the network is actively hurting your security.

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jamesmrk3l Yesterday

From the article: "The space savings granted by Bulletproofs may also enable the implementation of additional obfuscation mechanisms. As I have suggested to MRL, increasing the mandatory number of outputs in a transaction can make it significantly harder to trace balances by analyzing the blockchain. Decoys are used in Ring Signature inputs, but not in a transaction’s outputs. Implementing a system of decoy outputs will certainly increase the size of a transaction, but this increase may be trivial post Bulletproof activation."

Is there any open pull request for this?

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isrly_eder 3 hs ago

do we have a view on how tx size scales with increased outputs?

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SarangNoether MRL Researcher Yesterday

None that I know of at this point.

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I_READ_WHITEPAPERS Yesterday

Is there a reputable post or paper outlining a system of decoy outputs that is compatible with Monero?

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SarangNoether MRL Researcher 6 hs ago

You can already include zero-amount outputs in a transaction. This is done, for example, if a transaction would otherwise only have one output and didn't need to issue change.

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nokoolaidisaidthnx Yesterday

Paging u/SarangNoether Btw man good work as always, top notch, couldnt do it without you

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jamesmrk3l Yesterday

Excited to see this happening. Congrats for your work on Bulletproofs, it seems like you really championed this one.

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SarangNoether MRL Researcher Yesterday

It was a lot of good work by many people that led to this!

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SamsungGalaxyPlayer XMR Contributor Yesterday

There are some pretty cool photos in this article:

1 - Monero banner

2 - Overview of technology protections

3 - Ring signature construction

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SpearTactics Yesterday

We know

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smineminem Yesterday

Ok, he posted this thread 43 mins ago, so I thought I would share r/https://twitter.com/LucasNuzzi/status/1053296868422238209

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Hemlck Yesterday

I think the above poster didn't actually look at the article and just assumed this was news about bulletproof.

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smineminem Yesterday

From Lucas Nuzzi's Twitter thread on this

#Bulletproofs is one the most important technologies deployed on a mainnet this year. It can be applied to many proof systems to increase privacy and efficiency, as it reduces transaction sizes (& fees) by as much as 80%.

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sg77 Yesterday

Some previous discussion related to this company: https://www.reddit.com/r/Bitcoin/comments/78gkjh/hardware_wallet_vulnerabilities_grid/

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MoonNoon 1 day ago

BCH pls. Looks like an expensive wallet.

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lifepo4 1 day ago

I would say this is more like a bank than a wallet because it enables the user to have an essentially limitless number of accounts with different security attributes. Additionally, it provides the user the ability to create permissions and pairings so they can make automatic payments and make payments using any paired device like a laptop or smart phone. This means that is really a hub of commerce as well a a mechanism by which to create cold storage on SafeCards. That being said, the planned MSRP for the device will be ~$300. More coins such as BCH will be added overtime.

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EvanVanNess WeekInEthereum.com 1 day ago

fyi i'm removing this as a dupe since there's already a link to the youtube and twitter linking to the post above it.

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bee8e3713e555a27037a redditor for 3 months 1 day ago

the wallet and cold storage smart cards look interesting. the electricity payment device doesn't though. what's the use of that?

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lifepo4 1 day ago

The Lattice1 allows permissions and pairings so that the device can be used to make automatic crypto payments. The electricity payment is one use case of automatic real-time payments.

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bee8e3713e555a27037a redditor for 3 months 1 day ago

It says the smart cards generate private keys based on data that was programmed into them at the factory: >Physically uncloneable functions (PUFs) convert each chip’s unique electrical fingerprint into digital entropy that cannot be stolen or observed. So that means you have a copy of the private keys doesn't it? The trezor OTOH gets entropy from the PC.

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lifepo4 1 day ago

No one, not even you, has the private key. The key is only manifested physically. PUFs are like electronic snowflakes. https://en.wikipedia.org/wiki/Physical_unclonable_function They are made through uncontrollable randomness in the manufacturing process. They cannot be observed or reproduced and each one is unique. The entropy in a PUF is used to create a signature, but the private key is never actually knowable outside of the device. This is the most secure way to store a secret because even nation states are not able to derive a private key from a PUF on a secure microcontroller. For anyone familiar with nuances of security a PUF is the best way to keep a secret. That being said, if a customer does not want to use the PUF, they can store a secret on a smart card that is generated from a BIP39 process similar to trezor. This is less secure from a physical standpoint because an electron microscope could be used to read the secret from the microprocessor, just like it could be read off the trezor. https://www.cl.cam.ac.uk/~sps32/cardis2016_sem.pdf Additionally, it means that a plaintext copy of the seed likely exists somewhere written on a piece of paper, which not only suffers from durability issues but can also be easily compromised. In terms of backups, hierarchical multi-signature systems would be they way to "backup" PUF based accounts, because the cards themselves are "physically unclonable" so they cannot be individually backed up because they are impossible to read or reproduce.

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btchip 1 day ago

> a PUF is the best way to keep a secret I'd say this is pretty close to my personal view and the opinion of other hardware security people I'm interacting with - http://www.securitydocumentworld.com/article-details/i/11275/ Can you be more specific about the PUF you're using ?

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GoodRedd 1 day ago

I went from cynic to fan SO FAST reading this. Even though I understood none of it. I'll check the links and see if I can figure it out .

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lifepo4 1 day ago

Let me know if you have any questions. One other thing that may be of interest is that in a multi-sig wallet multiple entropy sources could be used for the different keys. One could be a PUF, the other could be a BIP39 generated on the Lattice1 or elsewhere, and the 3rd could be a backup provider like BitGo. Then the user is really mitigating their risk of flaws in any single tech implementation.

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Anne Connelly - @Anne_Connelly

RT @annairrera: Almost 1/3 of all cryptos financed through ICOs in 2017 have lost “substantially all value” and 86% trade below listing price - EY 📉 71% still have no product. Of the ones that do, some have started accepting fiat, or abandoned their own token https://t.co/T9Dt1P9GuQ https://t.co/dmH17ii8ta

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Leigh Cuen - @La__Cuen

RT @annairrera: Almost 1/3 of all cryptos financed through ICOs in 2017 have lost “substantially all value” and 86% trade below listing price - EY 📉 71% still have no product. Of the ones that do, some have started accepting fiat, or abandoned their own token https://t.co/T9Dt1P9GuQ https://t.co/dmH17ii8ta

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Ameer Rosic - @AmeerRosic

"71% still have no product. Of the ones that do, some have started accepting fiat, or abandoned their own token" https://t.co/U8IJfJIiDK

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Kevin Pham - @_Kevin_Pham

RT @annairrera: Almost 1/3 of all cryptos financed through ICOs in 2017 have lost “substantially all value” and 86% trade below listing price - EY 📉 71% still have no product. Of the ones that do, some have started accepting fiat, or abandoned their own token https://t.co/T9Dt1P9GuQ https://t.co/dmH17ii8ta

65 101

Nathaniel Popper - @nathanielpopper

RT @annairrera: Almost 1/3 of all cryptos financed through ICOs in 2017 have lost “substantially all value” and 86% trade below listing price - EY 📉 71% still have no product. Of the ones that do, some have started accepting fiat, or abandoned their own token https://t.co/T9Dt1P9GuQ https://t.co/dmH17ii8ta

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Frank Chaparro - @fintechfrank

RT @annairrera: Almost 1/3 of all cryptos financed through ICOs in 2017 have lost “substantially all value” and 86% trade below listing price - EY 📉 71% still have no product. Of the ones that do, some have started accepting fiat, or abandoned their own token https://t.co/T9Dt1P9GuQ https://t.co/dmH17ii8ta

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Recovery1980 Yesterday

What consensus mechanism does xDai Chain use?

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fomodude Yesterday

Great for MKR/Dai! What I don't understand is how 60 tx/s for POA is considered scalable. I mean, if the solution is meant to support microtransactions, there are likely to be a lot of them. Or am I missing something here?

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Zarigis Yesterday

Realistically you can spool up as many sidechains as you need to handle the load, as long as you can transfer Dai between them. 60 tx/s is probably fine for the foreseeable future.

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ebwvibfhwbovchwdshjd Yesterday

So does this makes this new blockchain a side chain? Or it's actually a self sustaining chain? Thanks

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stan3666 Yesterday

So its kinda both, lol. A PoA chain is based off the ethereum virtual machine, the only difference being the consensus mechanism. This means PoA chains can run smart contracts just like ethereum does. In a PoA chain, tokens can be "bridged" from one chain to another meaning that when tokens on the ethereum chain are deposited to a certain contract, a contract on the PoA chain mints "bridged tokens" on the PoA chain to the owner. So in a way, they are their own self sufficient blockchain that can be bridged to the ethereum main chain like a sidechain would. Its actually a really cool project, and when combined with DAI it will serve some really cool use cases. I am not affiliated with either project btw, however I have been using a PoA chain in my project and will be using DAI(and probably xDAI) when the project gets further along.

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throwawayo12345 Yesterday

What consensus mechanism does this use?

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bitesports Yesterday

I’ve been thinking a lot where this is going. I think There will be many blockchain, they will act as regulatory frameworks with different characteristics. I’m sure we’ll see a sidechain with backed in kyc soon.

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ice0nine Yesterday

That's a very lean and pragmatic approach to cheap stable coin payments, nice!

I'd love to write an end-2-end walkthrough on how to pay someone with this, but for a real end-2-end ofc. getting DAI is the problem.

So, could this be made available on Kovan or Rinkeby? As I understand the DAI is already on Kovan (https://medium.com/makerdao/the-code-is-ready-2aee2aa62e73), so there is just a bridge Kovan<->POA missing.

Then there could be a walkthrough with the Kovan or Rinkeby faucets, converting to DAI, bridging to xDai, paying and exiting.

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ice0nine Yesterday

Just saw [this](https://medium.com/@maratp/how-to-use-poa-network-crosschain-bridge-with-trustwallet-8d67957b5823), that's very similar to what I want to write, just with MetaMask and DAI, as MM as more widely used (though trustwallet looks neat).

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eMixologies 1 day ago

Rip xRapid.

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MrNebbiolo 1 day ago

:)

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litpath Flippening 1 day ago

And with that...EOS has been shoved into irrelevance.

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SilentGaucho 1 day ago

Sounds cool. So on xDai, a dapp developer can be sure all transactions are a price in USD? Is that the main benefit?

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rich_at_makerdao Technical Community Manager Yesterday

That's one of them. All transaction fees are paid in tiny amounts of Dai.

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5chdn Parity - Afri 1 day ago

FOMO getting some xDAI

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Pasttuesday 2 days ago

Just make payment channels a thing based on dai and then get merchant adoption.

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throwawayo12345 Ethereum fan 1 day ago

They don't work...blockchains do.

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SheikhShake 2 days ago

Super news!

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Just_Send_itt 2 months old | Karma CC: 40 2 days ago

It's definitely not the first ever USD-stable blockchain..... People from the MakerDAO community were being advised by people in the Bitshares forum years ago. Their whole goal back then was to put Bitshares MPAs on Ethereum

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MidnightOnMars 2 days ago

I've heard that about the relationship between MakerDAO and Bitshares, but I think the distinction is that this sidechain has the stable coin as its base unit whereas Bitshares has BTS with BitUSD and BitCNY on top of that. Please correct me if I'm wrong though, I have a limited understanding of BitShares. I actually just met someone from the core team last night at an Ethereum meetup - we talked about MakerDAO for a while and they sent me a list of links to get familiar with platform.

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Just_Send_itt 2 months old | Karma CC: 40 Yesterday

It's basically a fork of Bitshares for Ethereum. The stablecoin works exactly the same, except the consensus algorithm is different. Bitshares was the first DPOS chain and it's actually been around for about 5 years. It's moving to Eos very soon, and it's already far more scalable than this on its own. I just remember how the developers would be on the forum all the time asking Dan for advice.. If they told you it was the first USD-stable blockchain, I think that might be a little dishonest.. But if it was just a misunderstanding, then you know I actually think it's a cool experiment for Ethereum.

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twigwam Positive | 5 months old | 90404 karma 2 days ago

Maker could be Ethereum's next killer app. I think it is already IMO.

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MidnightOnMars 2 days ago

I agree that MakerDAO is already is a killer dapp. It took a while for me to get my head around it, but it's brilliant and I think it'll get far more exciting once we see multi-collateral DAI. I'm curious to see what is built on xDAI and I'm excited to see the universe of Ethereum child chains begin to take shape, but since this is a PoA sidechain with only 21 validators I'm much more excited about all the imminently launching implementations of the Plasma spec that will be fully cryptographically secured by the L1 rather than using a bridge mechanism.

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Zarigis 2 days ago

I'm trying to understand the value in this. How interopable are POA sidechains with Ethereum main chain? Who are the block producers for this chain?

I feel like this is an odd stopgap, until ERC865 gets in.

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rich_at_makerdao Technical Community Manager 1 day ago

The main value I'm interested in is around UX; this brings transparent micropayments to dapps right now. Onboarding people in emerging economies is a non-starter as soon as you have to explain that, at random times in the future, maybe, the network is going to charge you a dollar in fees. Or maybe 2 cents. Or maybe $3.92. Or who knows... And also, it's denominated in a different kind of money called 'Ether', so just pull out your credit card and head to Coinbase... Someone who is making $10 a day, or dealing with runaway inflation, or receiving a remittance, doesn't want to deal with a speculative transaction fee. This parallel chain allows wallet providers or dapp owners to move Dai around for micro pennies without having to charge a second currency.

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ziggy_poa 2 days ago

You can try the interoperability part right now. https://dai-bridge.poa.network Navigating to the above link will take you to a DApp which will allow you to transform any Dai tokens from Ethereum mainnet you have to xDai on the xDai Chain. If you want to change your xDai back to Ethereum mainnet Dai, simply change the network to the xDai Chain RPC and repeat the steps above. Resources for connecting: https://poanet.zendesk.com/hc/en-us/articles/360010427673-xDai-Chain-resources There are numerous values to this: In this new chain, you have the stability of Dai but also the benefits of faster and cheaper transactions. As noted in the post, 500 transactions in this new chain will cost less than 1 cent. We can also foresee multiple usecases for this, where DApps can make use of the multiple benefits of Ethereum based network without the hindrance of volatile gas prices in USD.

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Zarigis Yesterday

Can you elaborate a bit on how trusted this bridge is? Are we just trusting the bridge operator to honour the balance on either side or is there some cryptographic guarantee that I'll receive xDai for my Dai and vice versa? Also I'm still curious who the block producers of this chain are and how they were or will be selected? It seems reasonable that they should have some stake in Maker to keep them honest.

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psswrd12345 1 day ago

Awesome, thank you for this. Just transferred 1 dai to xdai for shits and giggles. How would I go about transferring this xdai to a different address on the xdai chain?

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