Featured | Cryptographic currencies will impact personal financial markets, the next bull market will usher in big growth

Today's content includes: 1 Pantera Block Chain Summit 2019: Solving Capacity Expansion 2 Pantera Block Chain Summit 2019: Developing Blockchain Infrastructure 3 Pantera Block Chain Summit 2019: Building Finance 2.0 4 Pantera Block Chain Summit 2019: Enabling New Application 5 cryptocurrency will impact personal financial markets, the next bull market will usher in big growth

Pantera Block Chain Summit 2019: Solving Capacity Expansion

This is a roundtable discussion of the scalability of Pantera Capital's Blockchain Summit 2019, with the founders of BloXroute, Celer, Offchain Labs and StarkWare.

The main challenges of scalability are network, storage and computing power. The network is the biggest bottleneck. If you want to spread data-rich blocks around the world, you can send them to several computers, send them to several computers, and so on, until the entire network knows. This takes a lot of time, which is why Ethereum and Bitcoin have relatively high time between blocks. If you can figure out how to reduce the propagation time and reduce the time it takes to send blocks on the network, you can increase throughput and speed. If your computer is 10 times more powerful than today's computers without addressing network propagation issues, you won't see a significant increase in throughput because bandwidth is still a limiting factor.

Many people say that Bitcoin has gone through a decade, but it still doesn't improve performance. Bitcoin may never expand! "We think this is short-sighted for several reasons. One is that Bitcoin is mainly used to transfer value, and there are better solutions (such as Lightning). In addition, it is used to extend the smart contract platform only for functions other than payment. It took four years of development. For example, Ethereum only took about four years. Until recently, there were not a lot of practical applications or projects on Ethereum. From a practical point of view, there are now real applications. Programs, people working on extensibility can view these use cases to understand how to solve scaling problems.

Harry Kalodner, co-founder and CTO of Offchain Labs:

One of the biggest problems with blockchains is that it is a single-threaded computer. Therefore, each node in the blockchain must complete all the work that has taken place. The advantages of various chain extension solutions are the decomposition and subdivision of work. This way you can achieve high scalability.

Uri Klarman, co-founder and CEO of bloXroute:

“By the end of this year, I hope to see the performance of Ethereum multiply. 5x is our goal, and we hope to have a major impact on Ethereum’s business. When it gets 100 times at the end of the year, it raises a question and needs to catch up. How long does it take for extra capacity? We have seen that Ethereum is doing more than on Testnet, but Testnet is not. We want the main network. If it is not on the main network, it is not counted. My number is, next year. At the end of the year, we will see 250 transactions per second. Therefore, this is about 20 times, and the next year should be more than 100 times."

Celer co-founder and CEO Dong Mo:

"To make the consumer's application work, any type of application that consumers want to meet can only be achieved through Layer 2. In terms of performance, Layer 2 expansion is always fundamentally larger than Layer 1. Faster. Having said that, it seems that it takes two to three years to make a breakthrough in the development of the first layer of scalability.

Uri Kolodny, co-founder and CEO of StarkWare:

"Starks relies on older, more streamlined encryption. Another benefit is that it has quantum security. This means that in a sense, this is a very powerful cryptography that will be able to withstand The quantum computer cracked its attempt."

Full text link: https://medium.com/@PanteraCapital/solving-for-scalability-9bf94c41a293

Pantera Block Chain Summit 2019: Developing Blockchain Infrastructure

This is a round-table discussion of the blockchain infrastructure at Pantera Capital's Blockchain Summit 2019, with representatives from Cosmos, Filecoin, Oasis Labs and Urbit.

Building something in the cryptocurrency/blockchain domain is more like building a rocket or biotechnology than building something like Snapchat. The developer environment, languages, and tools are so novel in the field of encryption – making it difficult to create things. Just like the early days of the Internet, creating a simple website was difficult.

Based on Ethereum, you can write smart contracts with Solidity. Solidity is much higher than Bitcoin's scripting language, which doesn't allow you to do too much. Since 2015, the possibility of building this kind of thing has really been realized. Testing Solidity is also time consuming because there are no good test frameworks to test Solidity Smart Contracts.

However, the biggest challenge is to make sure the code you write is correct. There are two aspects here: your specification and your implementation. When specifying a protocol design, it is time consuming to ensure that the technical specifications are meaningful. Still, economically, code is a must.

Encryption is unique in that it closely integrates computer science with economics, and if both options are incorrect (ie, motivation and game), then your system will not work, or worse, due to an attack. Catastrophic failure. This requires a long game debate, discussing different attack vectors and ways of going out.

Galen Wolfe-Pauly, co-founder and CEO of Urbit:

“When I look at what the blockchain can technically provide, the things that limit adoption and understanding are really simple: what can be done directly by the blockchain. There are many different vertical areas. The problem. Starting with private key management, even the user interface toolkit that developers can use to build applications that interact with the blockchain."

Filecoin stands for Jessi Clayburgh:

“Before the real expansion of Web 2.0 applications to all the users now serving, there have been about ten years of infrastructure since the late 1980s/early 1990s, all of which have led to the real entry of Web 2.0 developers. It’s growing fast because they really have great development tools. Now, what we’re seeing is the lack of developer tools that can build many of these lower-level protocols.”

Dawn Song, founder and CEO of Oasis Labs:

I think the goal is actually to build the product that the user wants to use. Usually, they don't understand what a blockchain is, and the goal is that they don't need to know what a blockchain is. Users should only enjoy the benefits of the product.

Zaki Manian, Director of Research at Tendermint:

“I think a large part of this untapped space is a 'new type of social organization'. So far, some of the major challenges we often face are that we have been developing interesting distributed technologies, but mainly using centralized companies. Foundations, etc. We built these decentralized financial machines, but these machines are often controlled and controlled by relatively few participants. Identify incentives, mechanisms, designs, user interfaces, and all of these for large-scale masses. What is involved now represents an undiscovered border."

Full text link: https://medium.com/@PanteraCapital/developing-blockchain-infrastructure-6d9da96ce4c5

Pantera Block Chain Summit 2019: Building Financial 2.0

This is a round-table discussion of the blockchain infrastructure at Pantera Capital's Blockchain Summit 2019, with representatives from Flexa, Xpring, ErisX and Wyre.

Blockchain technology and cryptocurrency are the foundation of a new financial infrastructure, just as the Internet is the foundation of a new information infrastructure.

Unlike the historical information revolution, the Internet not only revolutionizes access to content, but also democratizes the creation of content.

Finance has not experienced this series of revolutions. Indeed, there is no comment on the Internet that can reach the level of freedom of speech. At best, it can be said that most of today's transactions are electronic transactions. The financial infrastructure uses the Internet for communication; since the 1970s, the speed of execution has increased dramatically – all correct statements. But finance has not changed at the most critical moments: creating new tools, contracts and agreements.

By opening up ways to democratize and create new financial markets, society will benefit from the scale of the information revolution of the past, but this time it will change value, money and finance.

Imagine developing a new financial market that previously required a multi-million dollar custom contract designed by Goldman Sachs, but what are the key points?

ErisX CEO Thomas Chippas:

Now, you tend to see the participation and interest of smaller organizations. I have said, but this is actually a place where “different departments” are gathered into a place where you can buy and sell goods, hedge the future and really do what they need to do to manage their business risks.

Mike Dunworth, co-founder and CEO of Wyre:

This is a money game, all related to value transfer. Liquidity is the user experience. If I want to trade a capital worth a million dollars, or if I want a loan, it must be at the expense of liquidity.

Tyler Spalding, co-founder of Flexa:

"Based on selfishness and cost structure, if the cost of something is one-thousandth of that of other systems, then people will use it, people will adopt it, big companies will adopt it, and they will use it, I think that’s just Start."

Ethan Beard, Senior Vice President, Ripple Xpring:

The entire world of payments is built on these very old and outdated systems, which are basically built on a range of borrowers and lenders.

Full text link: https://medium.com/@PanteraCapital/building-finance-2-0-4fc28b0cc267

Pantera Block Chain Summit 2019: Enable new applications

This is a round-table discussion of the blockchain infrastructure at Pantera Capital's Blockchain Summit 2019, with representatives from Alchemy, Livepeer, Origo and 0x.

Blockchain technology is well suited to many markets, especially finance. Other use cases that actually integrate with financial markets include, but are not limited to, the file storage market, computing markets, item markets in video games, pledge gambling, and sharing economic agreements. Projects that build applications in these vertical markets will drive classic de-intermediation: retire existing for-profit companies and replace them with software. When software devours the world, software is the software.

There are basically two things that hinder this area. One is a cheap French currency entry. The entrance to the French currency is still very inconvenient and resistant to most people, and the entry fee will scare away many people. Another big issue is scalability, because many of these projects are actually markets. These networks can only execute 10 to 15 transactions per second.

0x co-founder and CEO Will Warren:

“The only real way we can think of really decentralizing this infrastructure is to provide users with a way to vote on upgrades. Therefore, ZRX tokens are a way to manage tokens. Moreover, this token actually It is very important to be owned by the people who use the agreement."

Origo co-founder Matt Liu:

We must really compare decentralized applications to centralized applications. The user experience must be good enough before people start using the applications we are building. Then they will realize the additional benefits. Therefore, the things I mentioned before are the same: cryptocurrency economic incentives, better privacy, better management of own funds – these advantages can only be played after the most basic obstacles have been resolved.

Nikil Viswanathan, co-founder and CEO of Alchemy:

We now seem to be using paper-made rafters and shovel to build skyscrapers. We need to first find more advanced tools, things like construction equipment such as cranes and bulldozers. But we are still in the first stage. Our goal is to help the industry grow by providing cranes and bulldozers.

– Erik Tang, founder and chief technology officer of Livepeer:

"On a decentralized network, failure of any node does not affect the quality of service you provide. You will never be bound by a single vendor because there is no single vendor on the decentralized network."

Full text link: https://medium.com/@PanteraCapital/enabling-new-applications-1b9268502fba

The cryptocurrency will impact the personal financial market, the next bull market will usher in big growth

The authors point out that the future of the bull market, bringing space for personal assets (cryptocurrency) wealth management (management), will be very large.

The cryptocurrency market is growing much faster than traditional financial markets, and in 2017, Coinbase even became the number one application in the Apple App Store. In 2019, Coinbase announced that they had more than 30 million users.

There are currently more than 40 million cryptocurrency investors, and almost all investors store their digital assets in personal hardware wallets, trusted exchange accounts or online wallet accounts.

Encrypted currencies are accelerating at such an alarming rate, leading to a shortage of tools and services needed to facilitate the management of encrypted asset portfolios. The market is growing so fast that innovation in asset management cannot keep up with demand. There is a huge gap in the market.

The cryptocurrency was born from the first day of birth, the philosophy of personal asset management, but we have not yet popularized the habit of managing our own assets. This market grows by up to 50% annually, and it is expected that by 2023, the number of cryptocurrency markets participating in personal finance will exceed the number of people in the traditional market.

In the next market cycle, the biggest opportunities will not appear in exchanges or ICOs, and the biggest invisible opportunities will appear in the personal crypto asset management market. Millions of investors are pouring into the cryptocurrency sector and they need better ways to manage their personal investments.

Encrypted currency is a new way of thinking about personal finance. Have ownership of funds, manage investment and control funds. We need personal finance solutions to meet our needs.

Original link: https://medium.com/coinmonks/cryptocurrency-will-explode-the-personal-finance-market-61e5669d6221