Merit blockchain
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Content:
- nature-backed money
- Dogecoin (DOGE)
- Blockchain Technology has Revolutionized the Digital Economy
- The way blockchain-based cryptocurrencies are governed could soon change
- Second Circuit Review: Merit-Based Class Cert Determinations
- Advantages and Disadvantages of Cryptocurrency in 2020
- Verizon MERIT hazmat team on standby to ensure network readiness in emergency situations
- Paper, Plastic, Peer-to-Peer
nature-backed money
There are two things almost any cryptocurrency wants to achieve. The first is to accrue as many users as possible. The second is to eliminate as many frictions as possible to create a system that can be transacted with as easily and seamlessly as possible. Merit might be the only cryptocurrency to date which does the exact opposite.
As an invite-only cryptocurrency it limits its user intake, with the intention of using the extra friction as a security measure to create a safer community for all its users.
Is it a radically different tack to that taken by most other cryptocurrency projects? It sure is, which makes it interesting to explore one way or another. It's an invite-only cryptocurrency network where each user has to be invited to the project before they can create an account. Invitations are dynamically distributed to all wallets across the network by the mining algorithm according to demand.
The more invites that are spent, the more are generated. Invites can be requested with just a click of a current user's personalised link. The idea is for each new user to spend their invitations carefully, and only invite people that they believe will actually use and transact with the Merit MRT cryptocurrency.
This type of attitude is encouraged by sharing the mining reward weighting of invitee stakes with the inviter. The goal is for every user to become a brand ambassador to innately incentivise network growth, specifically pulling in people who are more likely to actually use MRT.
MRT itself is intended to be used as a cryptocurrency that could be accepted anywhere. Initially it's been built into the system's exchange integrated marketplace, which was built as an alternative to investing resources in listings on other exchanges, and to create a way of distributing and trading MRT in the absence of an ICO.
Consensus-wise, Merit uses a "cuckoo cycle" system which separates block generation rewards from consensus and includes several different elements. The other half is distributed to top "ambassadors" of Merit, and all wallets, not just miners are considered for this award. The distribution of awards to ambassadors is dictated by the Pachira Tree algorithm.
This is a tried and tested formula for semi-randomly distributing rewards, where the likelihood of receiving an award is based on one's contribution to a network. In this case, contribution is measured by factors including the combined stake of one's own wallet and the stake held in invitee wallets.
It's still subject to change too. After going live, one of the main complaints was that it was funnelling too many rewards to the wealthiest users at the top of the "leaderboard" as it calls it.
But after a bit more tweaking, a more equitable distribution was created and the number of accounts made and users invited started increasing exponentially.
An extra-friction invite-only system doesn't necessarily seem like a great way of literally becoming the world's most used cryptocurrency, but in the sense of creating a truly safe and a secure network, it might make more sense. By taking into account the stake of both the parent node and the child nodes, creating fake nodes will necessarily reduce the impact of the parent node.
So you can invite yourself; but as the network grows you will see diminishing results from spreading your coins among different wallets in order to create a fake network.
Having said that, depending on what the exact weighting is, it might still always make sense for participants to invite themselves as needed to ensure they can still build as big a network as possible.
It's certainly possible to make this economically irrational, but intuitively it seems like the only way to do this would be to heavily weight rewards in favour of wealthier individual accounts. It might also take some serious number crunching to devise a system that does all that while simultaneously preventing too strong a trickle-up effect, where the balance of wealth gradually shifts towards the wealthiest users with the richest network. It's worth noting that most cryptocurrencies struggle to a certain extent with these kinds of incentive and egalitarianism questions.
That is, there is nothing special that you have to do or be in order to get an invite. The invite system is only a limit insomuch as it introduces a bit of friction into being able to transact on the Merit network, which we think is actually an important safety feature of Merit. The invite dynamics don't prevent anyone from joining, they simply make it in the best interest of current users to invite others to the network in order to qualify for Growth Rewards. More literally, though, the invite system does prevent people from joining the community.
That's its point. On the one hand it serves as a line of defence against trolls and scammers, but it might also unintentionally rule out anyone who's illiterate, people who don't want to be forced into a social marketplace, anyone who doesn't know the right people, anyone who doesn't speak the same language as anyone else in the community, and anyone else who might struggle to get an invitation.
According to Merit there are safeguards in place to prevent the exclusivity from getting out of hand, and it seems like anyone could get an invitation as needed. But a system that's exclusive by definition, while aiming to be inclusive by nature, might be unpredictable. This is just a picture. The actual invitation application form can be found here. Invites do not prevent people from joining the community, it prevents people from exploiting it. As such, an individual can easily join while a bad actor looking to create thousands of difficult-to-trace wallets would have a hard time doing so.
Because Merit requires users to register their address or alias just like a username with the invite system, we are able to identify users by human-readable usernames instead of 34 character hexadecimal addresses. This automatically makes it safer, as it's much easier to identify incorrect addresses. Because all addresses have to be validated, you can't send Merit to an algorithmically correct, but unattended address. Merit vaults add multiple layers of protection without sacrificing decentralization or forcing a user to understand and use cold storage.
Vaults utilize purpose-specific keys, whitelists and rate-limiting to help keep your MRT safe. These features are enforced at the protocol-level, not by a central party. Soon, Vaults will even include decentralized key recovery through Merit' s upcoming Guardian feature.
It might not be the anonymous cypherpunk vision of crypto, but these kinds of features are undeniably useful for anyone who actually wants to use and spend crypto. Therefore, it is in the best interest of the user to be discerning when spending their invites in order to maximize the impact of each spent invite. This is not to say economically rational Merit users are gold diggers, but perhaps they aren't financially incentivised to mess with no broke miners.
On the other hand, using wealth as a proxy for trustworthiness is a longstanding staple of cryptocurrency , mostly for lack of a better option to date. Newly invited merit users also have the opportunity to invite new users, an activity that can automatically earn them merit.
Furthermore, there is also a growing secondary invite market new users can leverage to sell their invites in return for Merit, fiat or any other currency. You just have to participate by growing the network.
Once we started digging into the various avenues of confusion, we realized there was a large opportunity to make crypto much more approachable and accessible. Therefore, the Merit Foundation has the entire network in its tree of child wallets, but doesn't get an unfair advantage from being first. Merit might not be for everyone, but it's almost certainly going to be interesting to watch from a kind of anthropological perspective. Plus, the concept of these sorts of tangible barriers for economic participation, and a programmed system that rewards social-climbing towards wealth, is good food for thought.
The digital currency market is enormous, and growing larger every day with plenty of opportunities for those interested to participate. No one has to show proof of wealth to join, and since we reward users not just for their stake of Merit, but for their network size, we help distribute Merit to an entirely different segment of the population rather than restricting block generation rewards to wealthy and technologically sophisticated miners with hundreds of thousands of dollars spent on specialized equipment.
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Dogecoin (DOGE)
Under the timeline established by the court, the parties must file their comments on the estimated damages by 27 January. An updated Report will then be filed by an independent expert by 28 February. The final hearing will be held on 4 May, where the parties will present their finalised requests to the court. Following the final hearing, the parties will have 80 calendar days to file their final written arguments and replies. The proprietary kit is expected Registered in England with Company Registration number
Blockchain Technology has Revolutionized the Digital Economy
Although they lost the auction, they had already spun up a line of sweatshirts, emblazoned with emojis, distributed by the newsletter company MorningBrew. The plan? Purchase the US Constitution. This experiment, which flooded social media with countless memes and calls to join the crowdfund, is just one example of the type of decentralized autonomous organizations DAOs that are now all the rage in venture capital circles. Much like open source projects like Bitcoin Core, DAO projects involve both volunteer participants and passive followers, often shepherded by paid core contributors. How the project collects money to pay those contributors varies drastically, depending on the project. FWB lead organizer Alex Zhang, a former DJ and events coordinator, took the reins of the lucrative DAO in May and says the club now has a fellowship program that admits up to 40 scholarship members a quarter. The program is funded for up to three years. People often start DAOs spontaneously, to see if the idea quickly attracts fundraising or fizzles out, and join DAOs for a variety of networking opportunities, including more social ways to experiment with cryptocurrency. Stepping back: Many of these DAOs are essentially crypto-fueled media companies.
The way blockchain-based cryptocurrencies are governed could soon change
If has proved to be a year for crypto games and their tokens, will become the year for gaming guilds that support hot gaming venues such as Axie Infinity or The Sandbox? Unlike traditional gaming guilds, which are organized groups of game players who play on a regular basis together in a game, crypto gaming guilds do not rise and fall with the game. Instead, they aim to become a platform to support new gamers. That also explains why investors are making a big bet on crypto guilds: There are hundreds of crypto games hoping to become the next Axie Infinity. Data from DappRadar shows there are about , daily active users on Axie Infinity, or unique wallet addresses interacting with the game, as of press time, down from its November peak at around ,
Second Circuit Review: Merit-Based Class Cert Determinations
By Anna Irrera , Steve Stecklow. The lawsuit, filed on Oct. ICOs have become a popular way for technology companies to raise money by issuing new cryptocurrencies to raise capital. Tezos, however, has yet to issue any digital coins and participants were told they were making a donation and may never receive any. The defendants include Kathleen and Arthur Breitman, the co-founders of the project; their Delaware-based company Dynamic Ledger Solutions Inc, which owns the source code; and Strange Brew Strategies, a communications firm hired to promote the venture. The Tezos Foundation and Strange Brew declined to comment.
Advantages and Disadvantages of Cryptocurrency in 2020
Blockchain technology has been presented as a disruptive technology that offers, mainly, security levels never seen before , necessary, and desired not only by the IT or finance industry but, in general, for any type of Industry, which makes it an incredibly versatile technology. However, despite its broad benefits, Blockchain technology is far from perfect and presents, as any disruptive technology, advantages, and disadvantages in its implementation. Why is blockchain technology a revolutionary sector and what investment opportunities does it present? Join us to answer these questions about investing in blockchain technology. This is the main feature of blockchain technology, and the strong point is that to authenticate transactions or operations no other instance is required to act as an intermediary, reducing transaction validation times. Network distribution.
Verizon MERIT hazmat team on standby to ensure network readiness in emergency situations
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Paper, Plastic, Peer-to-Peer
Crypto philanthropy is a new fundraising avenue for nonprofit organizations. We fund cutting-edge science and technology research and we have assembled a unique " Project Marketplace " with over vetted projects around the world making a big impact in renewable energy, nature conservation, and regenerative agriculture. Crypto Philanthropy is a burgeoning industry with endless impact potential and we are proud to be at the forefront of it in order to drive dollars to critically underfunded climate solutions. Join us in putting your charitable dollars to work solving the climate crisis! When you donate crypto to a registered nonprofit, you do not recognize capital gains from the donation and can deduct it on your taxes. In other words, donating your crypto can often reduce your tax burden.
In other words, the best advice for your cryptocurrency portfolio is to base your decisions on investment merit, not on trying to save tax. But in a cooling crypto climate the passive investor may find that selling currencies results in a capital loss. This can only be offset against a capital gain, not against income, although if there is no capital gain in the current income year, the loss can be carried forward and used later. An investor who attempts to access better tax treatment when the crypto climate cools down by claiming status as a currency trader without any discernible change in their pattern of buying and selling cryptos will raise a big red flag with the ATO. Typically, it says, the people with that red flag hanging over their names will have claimed a CGT discount in previous returns but, now realising losses, want to be able to claim an immediate deduction on revenue account. This is not to say that such a thing is impossible, provided that a bona fide business of crypto trading is being conducted. Many passive crypto investors may have indeed found financial success from their forays into the market and begin to conduct a trading business alongside other activities.
You can learn more about the Merit Vision at: www. Merit is a digital currency that focuses on community, simplicity, and safety. It introduces significant innovation to previous digital currencies.
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