Permissioned blockchain definition of science

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What really makes Bitcoin different? In The Fight for Bitcoin Round One: Water's Warm Maximalism , much was said about how and why to engage in good, truth-bearing faith with nocoiners, altcoiners, and Bitcoin skeptics alike. But not a lot was actually said about what makes Bitcoin truly special and what specifically puts it in a class of its own outside of the greater cryptocurrency, financial technology and economic market space.

As mentioned in the previous article, predominantly as of late there is a whole lot of preaching from our permanent bullish culture leaders, which leads to wonderful and passionate zealotry, but perhaps many holes in fundamental understanding of Bitcoin's protocol and the direct effects of said mechanisms.

The apex predatory nature of Bitcoin is not without sound reason, but it is important to understand why the many high priests of Satoshi's church have such conviction in the hopeful success of such a unique and disruptive technological experiment.

There is an ever-deeper cloud of knowledge billowing out of the thousands of nodes strewn across the planet, and just when it seems to coalesce into a complete and whole picture, another layer of incentives, another extrapolation of game theory, another form of legacy and incumbent systemic dematerialization presents itself to the now millions of eager, hungry students of Satoshi.

Much has been written in Bitcoin Magazine about the issues with the petrodollar system , and how a centralized cartel of money changers can wreak havoc upon the working class with monetary supply expansion at a whim, but the focus of this piece is going to be the true demarcation and separation of Bitcoin from its asset class; the unfortunate peers of cryptocurrency and decentralized networks in name only.

So rather than the beautiful blind dismissal that is more than likely more than deserved, let us instead equip ourselves with the knowledge to fight back on these predators with logic and logos. In the court case, the defendants, a Florida citrus company under the name Howey in the Hills Service, were selling large plots of their orange groves to mainly out-of-state investors under the premise and assurance that once the plots were planted and propagated, the profits would be guaranteed to break a certain margin.

Only thirteen years prior was the establishment of the Securities Act of , and the following year the Securities and Exchange Act of , in which the Supreme Court gave the newly-formed Securities and Exchange Commission, now known colloquially as the SEC, the exclusive rights to regulate the newly-determined financial instrument of a security contract.

This case was monumental in that it established precedent for what exactly determines a security contract versus a stock, a bond, a commodity, an asset or a currency. In this case, the Florida businessmen were offering a leaseback agreement, being as they were agriculture men, to non-growers, on their tracts of land with the future promise of harvesting, pooling and marketing the then non-existent citrus in exchange for a cut of the profits.

The SEC sued the Florida men for not registering these transactions with them under the claim that these leases were clearly within the jurisdiction of the Securities and Exchange Commission.

Under the now-known Howey Test, a transaction is an investment contract if:. When a potential security contract is being put up to the test, it is within the interest of the creator and marketer of the entity to NOT want to pass the test; passing the Howey test means your investment contract has been deemed a security and thus under the jurisdiction of the SEC, and thus punishable by fine or worse, if established without going through the proper channels of approval via the aforementioned regulatory bodies.

In the case of Satoshi's open and fair launch of the Bitcoin network, there was of course no submission of approval via these channels, and thus the question remains if Satoshi was in violation of the Securities Act of and the SEC. One simply has to look at the first quadrant of the Howey Test to know that in zero ways was the establishment of the Bitcoin network in any sort of violation of the act; while participation in the network to mine bitcoin required the cost of the electricity running over the silicon in the CPUs at the time, this investment — available to any and all who downloaded the protocol — was not an investment of money.

The SEC would have to prove that the investment of electricity was an investment of money, and that the open competition mining of bitcoin at launch was somehow a common enterprise between the miners, the exchanges and the core developers. Have people surrounding the project committed securities fraud? Of course, but that is very different from the actual mechanism and anonymous entity responsible for the initial launch of the protocol promising as such.

So where does that leave the other projects in the space? Does Ethererum skirt the same labeling as Bitcoin and find itself avoiding passing the Howey Test? In this humble contributor's opinion, as well as the opinion of the current and 33rd chair of the Security and Exchange Commission Gary Gensler, it does pass the Howey Test.

Again, you do not want to pass the Howey Test. Right away we can see that it utilized an online public crowd sale, selling the not-yet-released tokens called ether for bitcoin.

If we are giving Bitcoin's case the benefit of the doubt for passing unscathed by the first clause of the Howey Test, perhaps we can, too, be considerate, and for the sake of furthering the case, closely consider the investment of bitcoin as a money or an asset. The case for Ethereum being a security is furthered when looking at the next clause, and in regards to the Ethereum Foundation's many public statements of further price increase and thus profits for all the initial investors.

The marketing teams of the foundation have been quoted many times, as well as Vitalik himself, as perpetuating the assurance of market cap expansion via projects and common enterprise materialized by the Foundation and its promoters. We may limit the size of a single purchase to make it easier to disguise … so that nobody is scared. If you are a whale, and plan to invest several million U. So we can create a pseudonoymous email and identity and purchasing. While certainly shocking to see such brazen language, this is primary evidence of collusion and common enterprise between the token issuers and the investing parties.

This is in clear violation of the four terms set by the Howey Test, and thus one could easily make a case that Ethereum, and the many, many similar initial coin offerings that utilize the rails of their system, are in fact securities and pass the Howey Test with flying colors.

But is that what the supposed free speech and free market defenders that make up the Bitcoin community want? Are we suddenly in favor of government overreach and a retail reckoning that will most likely hurt more working-class investors than it will the venture capitalist backers, such as J. Morgan, that have already made out handsomely in fiat and bitcoin terms when they helped kickstart this system?

This is certainly a personal bias, but perhaps we can stay well within our lanes of free speech proponents to instead take a pragmatic approach to squashing the narratives of web3 and these smart contract social networks with technical facts to illuminate the eventual failures and shortcomings of these attempts without the need of the regulatory vengeance of Commissioner Gensler.

The Ripple consensus at its core relies on simply just trusting other validators in the gossip pool to not censor your transactions, and to order and sequence the transactions via utilization of a centralized clock. The proof-of-stake model that Ethereum is apparently transitioning to, is similarly relying on a trust system, but this time with a stake-based lottery mechanism that randomly distributes consensus control to validators algorithmically depending on how much equity one has in the system.

This governing conflict of interest is clearly shown in the ever-changing monetary policy at the whim of Vitalik and his pre-mine enriched founders. The argument of whether or not this was in good or bad faith is simply irrelevant; no party will ever be able to catch up to governing weight of the foundation, nor do the mechanisms that secure the network allow for immutable economic transactional activity and history. However, in a reality-based probabilistic manner, it does it as as well as any mechanism one could hope for; the universal, forgetful function of block discovery paired with the largest block height and highest hash rate makes it exceptionally, astronomically unlikely for any mining cartel to ever be incentivized to take a stab at controlling the Bitcoin network as opposed to acting in good faith.

If we all want Bitcoin to exist and its use be protected by free speech, we should find ways to distinguish it from its peers without the use of government regulation. Bitcoin solves a very real problem that humanity faces, while most of these platforms reinvent many of the financial solutions already solved by trusted third parties, while being nothing but a permissioned third-party platform themselves. Bitcoin truly is different, and it is more than okay to loudly and proudly think that; but best yet, is to know why.

This is a guest post by Mark Goodwin. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. Press Releases. Under the now-known Howey Test, a transaction is an investment contract if: It is an investment of money There is an expectation of profits from the investment The investment of money is in a common enterprise Any profit comes from the efforts of a promoter or third party When a potential security contract is being put up to the test, it is within the interest of the creator and marketer of the entity to NOT want to pass the test; passing the Howey test means your investment contract has been deemed a security and thus under the jurisdiction of the SEC, and thus punishable by fine or worse, if established without going through the proper channels of approval via the aforementioned regulatory bodies.

By Mark Goodwin. By Shawn Amick. By Bitcoin Magazine. By Edan Yago. By Saleh Isam. By TXSlim. By Sasha Klein. By Andrea Steffanoni. See More.



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Consequently, the Company is not able to file its Annual Financial Statements and related Certifications by the filing deadline of January 28, as required under applicable Canadian securities laws. Until the Annual Financial Statements are filed, the Company will be required to comply with the provisions of the alternative information guidelines specified in National Policy of the Canadian Securities Administrators by issuing bi-weekly default status reports in the form of press releases for so long as the MCTO remains in effect. The Company will work with the Auditors and dedicate appropriate resources to promptly finalize the Annual Financial Statements and the related Certifications, so the Annual Financial Statements and related Certificates can be filed as early as practicable. Pursuant to the MCTO, in the event that the Company has not filed its Annual Financial Statements and related Certification on or before March 1, , the filing deadline for the Q1 Financial Statements and related Certifications will fall on the date which is two business days after the date on which the Annual Financial Statements and related Certifications have been filed. The Company will make further announcements with respect to the status of the Annual Financial Statements and related Certifications as and when appropriate. DMG is an environmentally friendly, vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem.

Carwein said Thursday he wasn't on duty and was participating as a private citizen. The council meets at 6 p.m. It will hold 12 virtual public.

The Fight For Bitcoin: Us And Them

Blockchain technology has had a substantial impact across multiple disciplines, creating new methods for storing and processing data with improved transparency, immutability, and reproducibility. These developments come at a time when the reproducibility of many scientific findings has been called into question, including computational studies. Here we present a computational chemistry simulation run directly on a blockchain virtual machine, using a harmonic potential to model the vibration of carbon monoxide. The results demonstrate for the first time that computational science calculations are feasible entirely within a blockchain environment and that they can be used to increase transparency and accessibility across the computational sciences. Hanson-Heine and A. Ashmore, Chem. This article is licensed under a Creative Commons Attribution 3. You can use material from this article in other publications without requesting further permissions from the RSC, provided that the correct acknowledgement is given.


What is the quantum apocalypse and should we be scared?

permissioned blockchain definition of science

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It highlights ways in which blockchain affects sharing of energy for promotion of smart grids found to be helpful in management of electricity. The Hero Course is designed to up-skill and empower developers in the SubQuery ecosystem by providing them with a modular programme. A Day Made of Blockchain. In Figure 1, we assume that, at least, one trusted third party is available to implement the smart contract. The platform makes use of blockchain technology to ARK.


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There were press releases posted in the last 24 hours and , in the last days. Increasing incidences of healthcare data breaches is one of the significant factors influencing the market growth. Several hospitals and organizations are implementing the blockchain technology to record, analyze, and monitor patient information. Moreover, there is an increase in the supply of counterfeit drugs, and this issue can be restrained by adopting the blockchain technology in the healthcare sector. Initiatives are being taken by the government across the globe to tackle the situation. Growing incidences of healthcare data breaches are a significant factor in driving the blockchain in healthcare market growth. Data breaches may lead to a loss of USD

To promote e-Governance for empowering citizens, promoting the inclusive and sustainable growth of the Electronics, IT and ITeS industries.

Jack Dorsey has just recently uploaded a video on his Twitter feed with the caption "hydropowered solo. From the look of the device, it could be a crypto mining rig. This is believed to be supported by a subsequent photo included in the thread, which is a picture showing "


The Latest As a company grows, the amount of important information employees need to keep track of inevitably grows right along with it. And, as your tech stack gets more complicated, that information ends up sp. Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package. I could spend hours discussing early-stage startup operations and community-based marketing, but deal flow is my blind spot. The price-to-earnings ratio is no longer applicable for many listed companies, and the market-to-sales ratio has also gone out the window. Tesla is now selling a microphone for in-car karaoke.

How Zoho and Freshworks got their SaaS sizzling with different recipes. Saregama is hitting the high notes.

What really makes Bitcoin different? In The Fight for Bitcoin Round One: Water's Warm Maximalism , much was said about how and why to engage in good, truth-bearing faith with nocoiners, altcoiners, and Bitcoin skeptics alike. But not a lot was actually said about what makes Bitcoin truly special and what specifically puts it in a class of its own outside of the greater cryptocurrency, financial technology and economic market space. As mentioned in the previous article, predominantly as of late there is a whole lot of preaching from our permanent bullish culture leaders, which leads to wonderful and passionate zealotry, but perhaps many holes in fundamental understanding of Bitcoin's protocol and the direct effects of said mechanisms. The apex predatory nature of Bitcoin is not without sound reason, but it is important to understand why the many high priests of Satoshi's church have such conviction in the hopeful success of such a unique and disruptive technological experiment. There is an ever-deeper cloud of knowledge billowing out of the thousands of nodes strewn across the planet, and just when it seems to coalesce into a complete and whole picture, another layer of incentives, another extrapolation of game theory, another form of legacy and incumbent systemic dematerialization presents itself to the now millions of eager, hungry students of Satoshi.

Imagine a world where encrypted, secret files are suddenly cracked open - something known as "the quantum apocalypse". Put very simply, quantum computers work completely differently from the computers developed over the past century. In theory, they could eventually become many, many times faster than today's machines.


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    Do not despair! Funnier!

  2. Oswiu

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  4. Derwyn

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  5. Datilar

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