Satoshi Masamoto: 5 daily high-quality articles on cryptocurrencies
Today's content includes:
1 Why was Satoshi Nakamoto born on April 5, 1975? ;
- Former Nasdaq Vice President David Weild: Digital Securities is the historic intersection of blockchain and finance
- Xinhua News Agency: Resolutely crack down on the "coupling evil roads" and guide the application of blockchains to "open the main entrance"
- Ethereum Developer: Ethereum 2.0 deposit contract is expected to start at the end of this year
- The Monroe core team issued a security warning: the CLI binary file was corrupted and the user had to check it in time
- Who is the future of the coin blockchain and the coinless blockchain?
- Filecoin test network is about to go live, these changes need attention
2 Ethereum's DETH will make ETH ultra-fluidized;
3 Vertcoin's 51% attack-case study of blockchain security;
4 How the blockchain solves Amazon's $ 400 million problem;
5 Some summary of Ethereum 2019.
Why was Satoshi Nakamoto born on April 5, 1975?
The author of this article started his conjecture as to why Satoshi's materials show that he was born on April 5, 1975, and what the secrets are.
Looking back at the history of Bitcoin, you will find that this mysterious "founder" seems to have a lot of complaints about the traditional financial system. In October 2008, Satoshi Nakamoto published a Bitcoin white paper on the P2P Foundation website. In the date of birth column of the registration information, Satoshi Nakamoto filled in the date of April 5, 1975. We were unable to verify the authenticity of the date. However, it was later discovered that this date was never filled in casually. This is a date with great irony, the object of irony is the United States.
What happened in American history on April 5, 1975? Nothing actually happened. However, if you look at the year, month, and day separately, two major events have occurred in American history. The first thing happened on April 5, 1933.
In everyone's eyes, gold is recognized as one of the best hard currencies. In the United States during the Great Depression of 1933, US President Roosevelt signed Act No. 6102, and announced to the public on April 5 of the same year: Public ownership of gold is illegal and offenders will face up to 10 years in prison and be sentenced to $ 10,000 Fine.
The decree allows the Federal Reserve to recover approximately $ 400 million in gold at $ 20.67 per ounce. However, at the end of January of the following year, the US Congress passed the "Gold Reserve Act" to stabilize the price of gold at $ 35 per ounce. This price is more than 70% higher than when collected. Although this has caused the US dollar "inexplicably" to depreciate by nearly 40%. In 1975, when the second major incident occurred, the then-current US President Ford officially signed it. After 42 years, the gold holdings of American citizens were finally legalized.
April 5, 1975 was a combination of these two event dates. Satoshi Nakamoto began writing Bitcoin code in 2007. Until January 3, 2009, he finally succeeded in mining the origin block of Bitcoin, and was formally born that day. However, people also found that Satoshi Nakamoto left a string of hex information on the genesis block. The translation is this:
The Times January 3, 2009 Prime Minister is about to launch second bank bailout
The Times is a British newspaper with international influence. People read The Times on January 3, 2009, and found that this was the headline of the newspaper's front page that day. From 2007 to 2009, the world economy was in crisis. The negative impact of the financial crisis triggered by the United States has spread all over the world. Many banks and large financial institutions have closed down or been taken over. Satoshi Nakamoto has always recorded this headline on the Bitcoin block, which cannot be tampered with.
Full text link https://read.cash/@arslankhalid/why-was-satoshi-nakamoto-born-on-april-5-1975-c3a067e5
Ethereum's DETH will make ETH ultra liquid
DETH can be viewed as "Deposit ETH", or DeFi ETH (because it may become the main form of ETH used in DeFi). The author's point of view is that DETH may make Staking and the Ethereum network's ETH hyper-liquidated.
Suppose you own Ethereum, and you plan to hold it for a long time, and you must participate in Defi loan or Staking. So how do you do both? Tokenize Staking assets and earnings through Defi, and then put them into Defi.
As a local asset of DeFi, ETH may already be hyper-liquidated.
Similar to the way in which Compound issues cTokens representing token agreement assets, services such as exchanges and equity pools that mortgage ETH on behalf of users can also issue tokens for mortgage assets and accrued income.
Not all DETH is the same, and there will not be only one DETH. Each pledged service will have its own version of derivative tokens. Stake Capital has proposed an implementation of DETH in the form of LETH. I think we will see BinanceDETH, CoinbaseDETH, and countless other pledged service providers issuing coins.
By introducing liquidity network effects into collateral, collateral derivatives like DETH can change the rules of the game. Liquidity will be generated from DETH instances issued by the 2-3 largest exchanges or custodians (Coinbase, Binance … etc.). Once the flywheel starts spinning, all DeFi users will be motivated to use these services to deposit their ETH to make it the most fluid and useful.
2020 will also be a particularly crazy year.
Full text link https://medium.com/ideo-colab/the-deth-of-ethereum-98553866e81b
Vertcoin's 51% attack-blockchain security case study
On December 1, 2019, Vertcoin suffered a 51% attack, and one of the unknown attackers replaced the history of the ledger by changing 603 blocks. Vertcoin has been attacked multiple times in the past year. Prior attacks resulted in the theft of $ 100,000.
In a double-spend attack, the attacker restructured the chain where he made a large purchase in a cryptocurrency and replaced it with another blockchain version in which he owns the goods but never paid.
In this case, the attacker deposits VTC into a merchant (such as an exchange) to buy BTC (or other bearer assets with shorter delivery times). After the transaction is completed, he will find himself in that timeline, and he will return to himself the money previously spent with the merchant.
The main reason for Vertcoin's vulnerability comes from its mining algorithm. Vertcoin currently uses an algorithm called Lyra2REv3, allowing Vertcoin to be mined using commodity hardware. Also, for smaller networks, attackers don't even have to buy hardware. Instead, it can be rented on the hash function market NiceHash or the more general computing market AWS.
Our analysis shows that Vertcoin's biggest weakness is its inability to punish attackers. In unlicensed systems, miners are only motivated by financial rewards and hindered by punishment. The idea of boycotting ASICs was originally a form of the social justice movement, which avoided any punishment because attackers could easily sell hardware after the attack and even lease it to one of several general-purpose computing markets. However, Vertcoin attacks also show positive signs of network security. By monitoring important "vital signs" of the network, such as commodity production, derivatives markets, large amounts of recent deposits in exchanges, and peer-to-peer network layers, some future attacks can be predicted.
Full text link https://blog.deribit.com/insights/vertcoins-51-attack-a-case-study-for-blockchain-security/
How blockchain solves Amazon's $ 400 million problem
Research a potential solution to eliminate counterfeit products from the world's largest e-commerce retailer.
From 2018 to 2019, online counterfeits increased by 40%.
One of the main reasons Amazon is desperately trying to fight the counterfeiting crisis is that suppliers are leaving and Amazon has suffered as a result. In the past month, Nike, one of Amazon's most popular suppliers, has decided to withdraw from the platform because counterfeit items have replaced their content in search results.
Most importantly, Amazon itself has been accused of "plagiarizing" popular products. Last year, home and kitchen brand Williams-Sonoma sued Amazon, alleging that the tech giant's private label furniture division copied one of its chair designs.
In a world where emerging companies occupy a niche market space, as more and more businesses migrate to personalized e-commerce services such as Shopify, Amazon's ignorance will affect its future cash flow. However, there is one solution that can make Amazon stand out and reduce churn rates: the blockchain.
How does blockchain help Amazon fight counterfeiters? As mentioned earlier, Amazon has to review merchants individually, an inefficient process that ignores small startups on the platform. Instead, Amazon can use the blockchain to validate it. This is a breakdown of the underlying workflow.
- A new merchant wants to sell their product on Amazon and then sends its request to an e-commerce retailer.
- Amazon sent them a link to the zero-item revision, which was powered by the blockchain for merchants to fill out their information.
- Merchants must upload sensitive information, including their company name, business registration number, business address, any patents under their name, and financial statements.
- Smart contracts in the blockchain securely verify merchants' claims by cross-referencing information from other companies in the blockchain and visiting the business registry of the merchant's country.
- If the contract finds anything suspicious, the application is immediately rejected. For example, if an approved merchant has declared a company name or patent on the blockchain, the new merchant is likely to be fraudulent.
- If the contract cross-references all fields and they are legal, the merchant will be automatically accepted into the blockchain and their products can be sold on Amazon.
There may be a reason why Amazon hasn't pushed this idea forward. In this case, it is because of the performance bottleneck of the blockchain, because they need a lot of computing power to verify more than 2.9 million merchants. But they have their own advantages and have enough resources to achieve it.
Full link https://medium.com/swlh/how-the-blockchain-can-solve-amazons-400-million-dollar-problem-7a266c2c211e
Some summary of Ethereum 2019
Consensys summarizes Ethereum's year with some numbers.
20 million +. Total number of Ethereum accounts created this year
4000000. New active Ethereum addresses in 2019
3 times. Ethereum has undergone three network upgrades
4,728,152+. Ether was released from a block reward for one year.
About 2 million, increasing the average gas limit from 8 million gasoline to less than 10 million
8,516. Real-time Ethereum nodes
520. New dapp created in 2019
Bringing crypto technology to mobile phones in 2019: MetaMask Mobile, Argent, Coinbase Wallet, etc. have all released wallets in the past year.
1–2. Ethereum name service owners buy an average of 1-2 domain names, while some "giant whales" own hundreds.
The longest ENS domain name is:
During its two-year lifespan, OpenSea has become a major market for NFT auctions, with total auctions exceeding $ 7 million, of which $ 1.7 million comes only in October.
Gods Unchained, one of the most popular dapps on Ethereum, has created 6,714,445 items
This year, at least 25 other DAOs including Moloch, MetaCartel, and MarketingDAO were created.
Full text link https://media.consensys.net/ethereum-by-the-numbers-the-year-of-2019-264cc973467