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Leaping forward on EOS Independence Day
Leaping Forward on EOS Independence Day
We’ve got a very special episode of Around the Block for you today! Join Douglas Horn and several key leaders from each network in the Antelope Coalition; Yves La Rose from the EOS Network Foundation, Guillaume Babin-Tremblay from UX Network and Lukas Sliwka from WAX network. This is the first time all leaders have sat down to talk in this format and it’s an important time as today marks EOS Independence Day! Today the EOS network officially upgrades to Leap 3.1 and takes control of their codebase as a community.
We’ll talk about the launch of Antelope Leap 3.1 and how this marks the beginning of a new era for all Antelope powered blockchains. On top of discussing the current upgrade to Leap 3.1, we chat about what this means for the future of all our respective blockchains and what the community can look forward to!
Follow Antelope.io on Twitter: https://twitter.com/antelopeIO
Follow Yves on Twitter: https://twitter.com/BigBeardSamurai
Follow Guillaume on Twitter: https://twitter.com/eostitanBP
Follow Lukas on Twitter: https://twitter.com/LukasRepublic
Follow Douglas on Twitter: https://twitter.com/Douglas_HornMore on EOS Independence Day
What Antelope means to the community
More on Antelope’s website
Leap 3.1 featuresCrypto BS:
More on the Ethereum Merge
Why finality increased after the MergeSpecial thanks to the team at Corduroy Earth for producing this video, vote for their BP, Telosculture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
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GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram -
Telos Amend Proposal
Telos Amend Proposal:
Revise the Relative Staking Rewards to be Equal Between REX and sTLOS
By Douglas Horn for the Telos Core Developers
Overview
This proposal would amend the TBNOA to revise the REX and sTLOS parameters to give the same rate of return for each asset pool as opposed to paying REX a 50% greater return rate than sTLOS.
Telos Staking Rewards
Telos is about to add staking rewards to its EVM in the form of sTLOS, to extend some of the benefits of REX staking rewards from Telos Native to Telos EVM. In short, where Telos Native users can stake (temporarily lock up) their TLOS tokens to receive a reward paid out from Telos reserve accounts, without risk of loss or impermanent loss, and also gain voting rights with their locked-up tokens, Telos EVM users will soon be able to stake their TLOS on the EVM in single-asset-staking pools which will give them sTLOS tokens as a claimable receipt for their staking deposit. (REX users also receive REX tokens as deposit receipts but unlike sTLOS tokens, REX tokens cannot be used or transferred outside of the REX system.) Both systems offer protection from loss and impermanent loss common with two-asset-staking. The sTLOS tokens do not confer voting rights the way that REX token balances do. To offset this loss of utility, sTLOS tokens are able to be sold, traded, and staked against other assets in two-token liquidity pools (e.g. an sTLOS/USDC liquidity pool).
Both sTLOS and REX tokens gain value from the constant supply of tokens flowing into the pools every 30 minutes. Since both sTLOS and REX tokens represent a share of the TLOS held in the respective pools, as more TLOS flows in from the reserves, the amount of TLOS that each REX or sTLOS token is worth constantly increases.
All technical components of the sTLOS system are complete and in the late stages of testing in preparation to launch later in September.
Unequal Rewards
Although the forms of staking are intended to provide roughly equal utility, with sTLOS gaining the ability to be further staked for rewards, to make up for its lack of voting rights that REX tokens enjoy, they do not currently earn the same rate of return. Early discussions and a poll of Telos users indicated a community preference for assigning 60% of the staking rewards to REX on Telos Native and 40% to sTLOS staking rewards. In practical terms, for every 100 TLOS that an sTLOS staker earned on Telos EVM, a REX staker on Telos Native would earn 150 TLOS for the same amount of tokens staked.
Upon reflection and consultation, this split seems unfair and unlikely to achieve the primary goals of this program: to increase the total value locked (TVL) on Telos. Telos EVM is currently the fastest growing side of Telos usage in terms of value, number of apps, number of addresses/accounts and other metrics. To give a noticeably smaller share of rewards to Telos EVM stakers would be counterproductive to the goal of increasing the overall TVL of Telos — a metric that has been shown to lead growth in market capitalization for the chain.
This proposal, if enacted by a vote of Telos users on the Telos Amend platform, would equalize the split between sTLOS and REX staking to 50%/50% to provide more equal yield opportunities across both staking platforms and incentivize greater TVL on all platforms in Telos. This proposal seeks to amend the TBNOA clause 44 — Resource Exchange and sTLOS Rewards as follows.
Voting on this Proposal
Any holder of TLOS tokens staked on Telos Native may vote on this proposal using either the Decide Voter app (click for download links) or the Telos web app located at app.telos.net. The name of the ballot is equalstaking which can be voted on using the Decide Voter app or at https://app.telos.net/trails/ballots/equalstaking/1663184291376
The Proposed Text
(Modified text appears in green)
## 44. Resource Exchange and sTLOS Rewards
Upon a 2/3+1 majority vote by the then current Block Producers to do so, computer code and/or contracts enabling a “Resource Exchange” for staking an account’s system resources to a common exchange which leases or rents out said resources to others for a fee (even a zero value fee) and disburses said fees to all resource-staking Members in return for an equal percentage of network income from RAM transaction fees, name bidding fees, or any other fee for commonly owned or managed Telos resources shall be implemented in the Telos Blockchain Network computer code and/or contracts. The form of this Resource Exchange may be modified or removed in the future upon a 2/3+1 majority vote by the then current Block Producers. Once the Telos Block Producers have deployed an Ethereum Virtual Machine (EVM) smart contract named “eosio.evm” onto the Telos mainnet, a portion of the funds designated for the Resource Exchange may be directed to a single-asset TLOS token staking pool implemented as a staking vault smart contract by regularly transferring the funds to the “eosio.evm” address to be designated by the Telos Block Producers as the sTLOS staking account with the purpose of disbursing said funds to all TLOS-staking Members of the sTLOS liquidity pool. Members staking TLOS tokens into this pool will receive a number of sTLOS depository receipt fungible tokens commensurate with the amount of tokens staked and the TLOS-to-sTLOS ratio, which will continuously rise for as long as funds are transferred into the account from the Resource Exchange. For as long as funds exist in the Exchange Token Reserve Fund named “exrsrv.tf”, funds from that account may be deposited into the Resource Exchange account named “eosio.rex” for disbursement at a rate of 1,000,000 TLOS per month through block 98,000,000; 1,350,000 TLOS per month for blocks 98,000,001 through block 113,000,000; 1,500,000 TLOS per month for blocks 113,000,001 through block 128,000,000; 1,700,000 TLOS per month from block 128,000,001. From block 228,000,000 This amount will be 1,700,000 TLOS to the account “eosio.rex” with a percentage further transmitted to the sTLOS rewards account designated by the Block Producers. The amount forwarded from the REX staking rewards account to the sTLOS staking rewards account shall be calculated by first programmatically calculating the current ratio of TLOS tokens staked to REX and sTLOS reward-earning accounts and then multiplying by the governance-determined rewards ratio which as of block 228,000,000 shall be 50.00% of the total amount sent to REX forwarded to sTLOS the staking rewards account. Reverting or “unstaking” sTLOS tokens into TLOS tokens shall require a minimum of 10 days from an account owner’s action to unstake the tokens until the tokens are made liquid for the Member to withdraw. These parameters may be adjusted by a 2/3+1 vote of the Block Producers provided it does not exceed the limits set in Clause 49 “Telos Economic Development”. All references to specific block numbers in any Telos Governance Document refers to that block number or as soon as the Block Producers and developer teams are practically able to deploy such changes thereafter.
The Existing Text
(Removed text appears in red)
## 44. Resource Exchange and sTLOS Rewards
Upon a 2/3+1 majority vote by the then current Block Producers to do so, computer code and/or contracts enabling a “Resource Exchange” for staking an account’s system resources to a common exchange which leases or rents out said resources to others for a fee (even a zero value fee) and disburses said fees to all resource-staking Members in return for an equal percentage of network income from RAM transaction fees, name bidding fees, or any other fee for commonly owned or managed Telos resources shall be implemented in the Telos Blockchain Network computer code and/or contracts. The form of this Resource Exchange may be modified or removed in the future upon a 2/3+1 majority vote by the then current Block Producers. Once the Telos Block Producers have deployed an Ethereum Virtual Machine (EVM) smart contract named “eosio.evm” onto the Telos mainnet, a portion of the funds designated for the Resource Exchange may be directed to a single-asset TLOS token staking pool implemented as a staking vault smart contract by regularly transferring the funds to the “eosio.evm” address to be designated by the Telos Block Producers as the sTLOS staking account with the purpose of disbursing said funds to all TLOS-staking Members of the sTLOS liquidity pool. Members staking TLOS tokens into this pool will receive a number of sTLOS depository receipt fungible tokens commensurate with the amount of tokens staked and the TLOS-to-sTLOS ratio, which will continuously rise for as long as funds are transferred into the account from the Resource Exchange. For as long as funds exist in the Exchange Token Reserve Fund named “exrsrv.tf”, funds from that account may be deposited into the Resource Exchange account named “eosio.rex” for disbursement at a rate of 1,000,000 TLOS per month through block 98,000,000; 1,350,000 TLOS per month for blocks 98,000,001 through block 113,000,000; 1,500,000 TLOS per month for blocks 113,000,001 through block 128,000,000; 1,700,000 TLOS per month from block 128,000,001. From block 228,000,000 This amount will be 1,700,000 TLOS to the account “eosio.rex” with a percentage further transmitted to the sTLOS rewards account designated by the Block Producers. The amount forwarded from the REX staking rewards account to the sTLOS staking rewards account shall be calculated by first programmatically calculating the current ratio of TLOS tokens staked to REX and sTLOS reward-earning accounts and then multiplying by the governance-determined rewards ratio which as of block 228,000,000 shall be 40.00% of the total amount sent to REX forwarded to sTLOS the staking rewards account. Reverting or “unstaking” sTLOS tokens into TLOS tokens shall require a minimum of 10 days from an account owner’s action to unstake the tokens until the tokens are made liquid for the Member to withdraw. These parameters may be adjusted by a 2/3+1 vote of the Block Producers provided it does not exceed the limits set in Clause 49 “Telos Economic Development”. All references to specific block numbers in any Telos Governance Document refers to that block number or as soon as the Block Producers and developer teams are practically able to deploy such changes thereafter.
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Understanding IoT & Web3 with Kanda Weather
Understanding IoT and Web3
The state of African weather data is dire – but that’s where Kanda Weather comes in. They’re using weather balloons and the internet of things, also known as IoT, to collect that critical data. And Telos helps them store that data and reward their users with cryptocurrency.
In this episode of Around the Block, join Douglas, Nathaniel, Sean and special guest Nicolas Lopez from Kanda Weather. They’ll tell you all about the impact that their project is having across continents – and you’ll learn a thing or two about IoT too!
Learn more about the Weather Miner: https://www.ascensionwx.com/miner/p/weather-miner More on Helium: https://www.helium.com/ More on hydrogen tech: https://twitter.com/KandaWeather/status/1564713291775197185?s=20&t=iRSmPqnLqPwqhOAs5jGyug
Vote for Kanda Weather Block Producer Vote using your Decide Voter app or the Telos Open Block Explorer
Follow Kanda Weather on Twitter
Join Kanda Weather’s Discord
Read their Medium
Learn more About Kanda WeatherBlock Stuff:
More on LUNC:
https://www.coindesk.com/markets/2022/09/09/terras-luna-token-gains-200-in-a-few-hours-amid-speculative-frenzy/ https://www.coindesk.com/markets/2022/09/12/terras-luna-tumbles-more-than-30-making-u-turn-from-surge/Special thanks to the team at Corduroy Earth for producing this video. Vote for their BP Telos Culture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
***
GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram -
Why Decentralized Storage is Important
When GoodBlock started back in early 2018, we weren’t planning to build decentralized storage. We started out building a gaming metaverse. Not too far into the process, we realized that the only viable solutions for high speed, easy to use storage were run by centralized mega companies. As a company focused on building for Web3, we found that building that on the foundation of Web2 just didn’t fit. So we decided to build a solution for Web3 that would combine all the convenience of Web2 with the innovation and freedom of Web3.
Cloud Computing & Storage
Cloud Computing as we know it today came about through the evolution of hardware and software technologies spurred by government and corporate interests. 82% of the cloud market is held by only eight companies, with the top two holding 54%.
This is the structure upon which Web 2.0 exists. While it may seem a bit boring to talk about storage, it is the foundation upon which every internet based application must rely in order to do what people do on the internet, from posting videos to TikTok, photos to Instagram, posts on Twitter to online banking, tax filing, email and all manner of document generation saved in shared drives in the cloud. The data and connectivity that most of us use for significant portions of our waking hours is hosted by just a handful of corporations. In recent years people have begun to notice the downside of the Web 2.0 structure and some have been steadily building the next phase in the evolution of the internet, Web 3.0.
This phase is characterized by decentralization,By definition, decentralization is the transfer of control of an activity or organization to several local offices or authorities rather than one single one. When Web 1.0 was introduced, it was much more decentralized. However, in order to scale and bring more user-friendly products and services to the internet,(and to make a lot of money), Web 2.0 brought about increased centralization. In a certain light it makes sense, if you control something completely within your company you can ensure that the user experience is as you intended, but because of this, Web 2.0 has become increasingly embroiled in scandal. Data sellers, pay for play, and non-competitive policies have resulted in an internet that favors those corporations and their products. That’s where Web 3.0 (or Web3) comes in.
Decentralization is best understood on a spectrum, and not as an absolute. Imagine a bell curve with centralization on one side, and decentralization on the other. Most experts on Web3 agree that depending on the use case and protocol, the preferred level of decentralization will vary. WIth that in mind, the overall goals of Web3 are to create mechanisms for alternative ownership and structural models that help decrease reliance on any one app or company.
What is decentralized cloud storage?
Most of us use cloud storage on a daily basis. You take a photo with your iPhone and it is uploaded automatically to your iCloud. You send an email and attach a file from your Google drive. You read and send Tweets. Each of these activities uses cloud storage. Apple runs its storage on a combination of Google Cloud and Amazon Web Services (AWS). Twitter runs its storage servers on AWS. These are examples of centralized cloud storage. The most well known decentralized storage is IPFS or Interplanetary File Storage. “IPFS is a distributed system for storing and accessing files, websites, applications, and data.” So instead of storing your data on AWS through Twitter or iCloud your files are stored in IPFS which is to say it is stored on individual computers that are connected to the IPFS system, which both unreliable and unpredictable and often slow (high latency) as an application utilizing IPFS must constantly be searching for a node to deliver the requested file. IPFS is also built to reduce redundancy, so sometimes files disappear or become unavailable, when a node goes offline or drops out of the IPFS network permanently.
What makes dStor different?
dStor utilizes IPFS but is built to solve the problems associated with high latency, redundancy and reliability.
dStor also allows for users to pay in fiat as well as crypto rather than utilizing a single specific token tied to the network. The technology allows dStor to provide requested files reliably and quickly to and from anywhere in the world. Once dStor is completed, there will be no central authority, it will be a self-sufficient, decentralized network of nodes around the world that will be compensated for the space used on their machines. Nodes are incentivized to maintain the best infrastructure because the fastest and most reliable nodes are prioritized to receive files for storage. All nodes are compensated for uploads, downloads, and storage space used, which will be familiar to those using Web2 storage.
Another key difference that should be noted is that dStor has clear, transparent pricing which is a big contrast from Web2 storage providers, which are complicated and expensive.
Where are we in the dStor build now?
As we go into Q3 for 2022, dStor is in a closed Alpha phase of development and testing with a working network of carefully selected nodes and users. Over the next few months we will be moving dStor steadily toward a paid beta phase, strategically increasing both node operators and customers as we road test the tech with applications who are working closely with our team to ensure everything works and will be ready for the rest of the world when we complete development.
Currently we have a waitlist of over 40 storage node providers and a waitlist with over 114 future customers and 15 third-party sellers based all over the world, who have already started prospecting.
What can people expect from dStor?
People can expect dStor to function seamlessly, securely and without interruption to their business.
Storage for Web3
This brings us full circle to answer the question, “Why is decentralized storage important?” It is a key part of the foundation of a safer, more secure cloud experience for users around the world. With decentralized storage, all kinds of data are more secure. As Web2 storage providers have grown and consolidated we see more and more global failures and breaches because there are so few and when one goes down, the consequences span across multiple industries and continents.
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance (decidevoter.app) and Decentralized Cloud Storage (dstor.cloud). Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the EOSIO codebase.
GoodBlock Resources and Social Media:
Website: https://goodblock.io/
Twitter: @goodblockio
Medium: https://medium.com/goodblock-io
Telegram: t.me/goodblocktls -
Improving DAO Coordination
Improving DAO Coordination & Solving “The 6th Grader Problem”
Think back to when you were in school and would be given a group assignment. You may remember that during these assignments there were those who did most of the work and others who….took most of the credit… As Web3 evolves and we explore new ways of collaborating, working in a DAO can often feel similar to these group assignments.
That’s why this week Leah, Erika & Nathaniel sat down with Jenn Dixon, a Web3 newbie, but an expert in fostering healthy collaborative work environments. Jenn is an experienced teacher in the Seattle area, who teaches 5th and 6th grade Humanities . This experience makes her a fantastic person to speak to the challenges regarding coordinating group activities and initiatives, whether that be school projects or in this case DAOs!
In today’s episode, we talk to Jenn about some of the biggest hurdles we’ve come across during collaborative projects in Web3. Jenn then shares insight into the tools and processes she has implemented to foster healthy collaboration in the classroom and how these same systems could be utilised in the Web3 space.
LINKS:
Global Mental Health Resources
Netflix Bans Crypto Ads
Bed Bath and Beyond CFO falls to his death from New York’s Jenga TowerSpecial thanks to the team at Corduroy Earth for producing this video, vote for their BP, TelosCulture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
***
GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram -
Web3 Wallets & Security Best Practices
What’s in Your [Web3] Wallet?
This week, Erika, CJ and Nathaniel sat down with Aaron Cox, Co-Founder of Greymass. Greymass is the team behind the Antelope protocol’s primary wallet, Anchor, and an active Block Producer on the Telos Mainnet. If you’re new to crypto and blockchain than this is a great episode for you!
They’ll get into the weeds of all things surrounding wallets and Web 3 security practices. Discover what a wallet actually means in the Web 3 world and the meaning of all the different features and terminology surrounding wallets. Then, they’ll discuss some important considerations and best practices to ensure your crypto assets are safe and secure!
LINKS:
More About Greymass
Follow Greymass on Twitter
Greymass Medium
Ava Labs Alleged Conspiracy With Law FirmSpecial thanks to the team at Corduroy Earth for producing this video, vote for their BP, TelosCulture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
***
GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram -
All About Telland
All About Telland NFTs
In this episode of Around the Block, join Erika, Sean, Leah, and special guest Paul Gonzales from Telland. They’ll tell you all about Telland, winners of Mission NFT and creators of an innovative NFT series that grows real crops in Peru. And you’ll learn a thing or two about moringa!
Telos Force Proposal
More about Telland’s goals
Read more on Telland
Learn more about Telos Peru’s projects
Follow Telland on TwitterCrypto BS
More on liquidations
More on private keys in courtSpecial thanks to the team at Corduroy Earth for producing this video, vote for their BP, TelosCulture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
***
GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram -
How to Explain Blockchain to Your Mother
Have you ever tried to explain Blockchain or Web3 to your mother or maybe your Uncle Ned? During the explanation did they give you a blank stare?
If it was your Uncle Ned, it was probably followed by some kind of a rant…
“There’s nothing there – it’s not a real commodity like corn or wheat or fatback”
I don’t know what fatback is- I don’t think that’s an actual commodity.
You might think, ‘why aren’t they getting this? It isn’t that hard.’ And yet for them, it sounds like you’re speaking a different Language.
You can see it in their eyes; they fade off into slumberland at the words cryptographic hash. Well, I have found a way to hold the fade at bay. A method that allows people to grasp the basics and in many cases become avid supporters of Web3 technology.
The following is an example of how some of these conversations go. I’m using my mother as a guinea pig in this example. On a side note, my mother is not from England, however, she is quite proper and very hospitable. So in my head she is always speaking in a proper RP English accent (Received Pronunciation – Queen’s English). As you read this, if you could try and imagine the same, that would be lovely.
“OK Mom, you have Facebook, right?”
“Well of course. You know that I’m always giving a thumbs up to all your posts, Deary.”
“Where does Facebook live?”
“Oh my – yes, on the computer. No, wait. It lives on the Interweb, Dear.”
“Close enough for Jazz, Mom.”
“Facebook is an application that a lot of people – over a billion – interact with online (the interweb). The actual program is housed on thousands of servers in massive buildings called server farms. Servers are big computers. Those servers are managed by some really smart technicians. People who make sure the servers stay nice and cool (because computers don’t work well if they get too hot). They also make sure they are upgraded with the latest tech on a regular basis. In a way it is like maintaining your car with a mechanic. The technician is sort of like your mechanic.
These servers allow Facebook to operate on individual devices around the world and function at its best while they steal all your information. I’m kidding? At the tip of the Facebook pyramid is a guy named Mark Zuckerberg.”
“Oh right, the guy who makes and sells the jams and jellies. Is that how Facebook makes its money?”
“Nope. Different guy. There are several ways that Facebook makes money. They make money when people buy shares in the company, through ad revenue and (if rumors are true) when they sell your personal information. And where does that money go? Into the pockets of Mark Zuckerberg (and the shareholders).
Like a server farm, a blockchain is also made up of many servers or computers as well. However, those computers are not all in one place. They are spread out all around the world. Some Blockchains utilize programming called Smart Contracts. Some of the blockchains using smart contract technology are Etherium, EOS, the UX Network, WAX and Telos. Unlike the server farms where Facebook lives, blockchains (also called Decentralized Ledger Technology or DLT) is a decentralized system of servers (or nodes) that are all linked together in a virtual chain. Smart Contracts give guidelines on how each node communicates with each other. Every time a change is made to any application using the blockchain, that change is recorded as a block of information. That block of information is then verified and recorded by all the nodes who are part of the chain.
If there was an app like FaceBook on a blockchain and you used that app and “liked” a post I made, that “like” would be verified and confirmed by all nodes around the world who are a part of that chain.
There are technicians who maintain those nodes. Some blockchains call them Miners, some call them Node Operators and some call them Validators, but they are all a type of Block Producer. Block Producers (the technicians) make sure the applications and information that is stored on the chain is protected, verified and passed onto the other Block Producers. They also make sure those servers stay cool and are upgraded with the very latest tech.
What’s interesting about a blockchain like Telos is that the tech that runs and links them all together is really cutting edge – very fast, and extremely Green, with almost no carbon footprint. Unlike a lot of other blockchains it’s powerful enough that you can house a ton of decentralized applications (sometimes called dApps) and manage tons of transactions per second. In other words a decentralized version of Facebook or YouTube could utilize a chain like Telos.
By the way, “tons” is a figure of speech. Applications don’t really weigh anything.
If you decided to put money towards a blockchain like Telos that money wouldn’t be going into the pockets of someone like Mark Zuckerberg. It would be going back into the blockchain’s ecosystem.
You are actually buying space on the blockchain that you could use for your own application, or you could rent it to someone who has an application (there are smart contracts that manage the rental for you. You can also hold onto it until the value of the space you own goes up significantly. It’s like owning land.
In addition, if you acquire a token (own land) on Telos, EOS, UX or a similar chain, you also get to participate in the governance of that blockchain because you are a landowner. You get to vote on who the Block Producers are and what other opportunities the blockchain will support.
The value of a blockchain like that can continue to go up as more people build applications on those servers because the value of the “land” goes up with demand.”
***
That’s how I usually explain blockchain tech. It’s a pretty simple approach. I get some questions but they are usually pretty basic and easy to answer. Afterward people will have a good (basic) understanding of what blockchain is and why they might want to get involved.
Hopefully, what you have read today will be helpful in the future as you talk about blockchain and Web3 with your mom or anyone else you think might benefit from a simple explanation.
***
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance (decidevoter.app) and Decentralized Cloud Storage (dstor.cloud). Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the EOSIO codebase.
GoodBlock Resources and Social Media:
Website: https://goodblock.io/
Twitter: @goodblockio
Medium: https://medium.com/goodblock-io
Telegram: t.me/goodblocktls -
Antelope.io Announced at Last!
Antelope.io Announced at Last
In this episode of Around the Block, join Douglas, Erika, Leah, and special guest Daniel Keyes from EOS Nation and Pomelo. They’ll tell you all about the newly-named Antelope codebase. And you’ll hear about all the latest from Pomelo too!
LINKS:
Follow Daniel on Twitter
Follow Pomelo on Twitter
EOS Nation
Check out Pomelo
About Public Goods
Learn more about Quadratic Funding
All about Antelope
Antelope Press Release
Antelope Announcement with DouglasCrypto BS:
Chasing Down Tornado Cash On Tornado Cash Sanctions
More on dev arrestSpecial thanks to the team at Corduroy Earth for producing this video, vote for their BP, @Telos Culture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
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GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram -
Hacks, Vulnerabilities, and Scams, Oh My!
Hacks, Scams, and Vulnerabilities
In this episode of Around the Block, join Douglas, Nathaniel, Sean, and special guest Jesse Schulman! They’ll tell you all about what the difference is between a hack, a vulnerability, and a scam in the Web 3 world. And you’ll get the lowdown on sTLOS too!
LINKS:
Bridge hacks since January
Recent Solana vulnerability
Ripple opens new office in SEC HQ
The IRS is the real lottery winner
Star Wars salaries
Nancy Pelosi in TaiwanSpecial thanks to the team at Corduroy Earth for producing this video, vote for their BP, TelosCulture on the Telos Network!
GoodBlock is hiring! Check out open positions at goodblock.io/careers
GoodBlock Technologies is an app developer and Block Producer candidate on the Telos Blockchain Network, with a focus on 2 of the pillars of Web3.0; Governance and Decentralized Cloud Storage. Vote for goodblocktls, and learn more at goodblock.io.
Telos is a cost-effective, energy efficient, fast, and scalable DPoS blockchain that has been operational for over 2 years. The Telos blockchain has leading on-chain governance (Telos Decide), and is built and developed by a core development team using the Antelope codebase.
***
GoodBlock Resources and Social Media
Website | Twitter | Medium | Telegram