EU Blockchain Observatory Suggests Way Forward On Scalability, Interoperability

The report, produced by ConsenSys using EUBOF stakeholder input, suggests that “permissioned, purpose-built blockchain platforms” aimed at …

Earlier this month, the European Union Blockchain Observatory and Forum (EUBOF) released a report outlining the steps needed to improve blockchain scalability, interoperability, and sustainability in Europe. The report, produced by ConsenSys using EUBOF stakeholder input, suggests that “permissioned, purpose-built blockchain platforms” aimed at specific use cases and user bases will constitute the first wave of blockchain technology adoption in Europe.

The report maintains there is much work to be done before the mass adoption of blockchain technology becomes a reality in Europe and around the world and devotes some space to the “trilemma”: “[B]lockchains can generally have only two of the following three properties: scalability (that is, performance in terms of speed and volume), decentralization or security.” While a highly decentralized and secure blockchain platform may not be scalable, a scaled and decentralized platform may not be secure. EUBOF suggests sacrificing a degree of decentralization in order to achieve a secure and scalable blockchain.

EUBOF’s main concern, then, is that blockchain platforms be interoperable. That is, they should have “the ability to exchange data with other platforms, including those running different types of blockchains, as well as with the off-chain world.” EUBOF believes a small global network comprised of interoperable blockchain platforms will be the “backbone of a Web of Value” for the blockchain industry.

On the topic of interoperability between blockchain platforms, the report provides two recommendations. It first suggests that trusted communication between two or more blockchain platforms can be achieved by utilizing a third-party “off-chain entity” to validate transactions and information. This party would be responsible for either transferring information between platforms or recording the state of the different platforms – much like a notary service – so that each participant is able to trust the information. The report also suggests that interoperability can be achieved through cross-blockchain bridges and EDCCs (aka “smart contracts“), which can be used to share and verify information.

Moving on to sustainability, EUBOF suggests that developers and designers need to move away from the energy-hungry “proof-of-work consensus mechanism” to more energy efficient mechanisms like proof of stake. It also says that designers and developers need to pay close attention to the sources and amount of funding they receive, the quality of government regulations, and the “capitalisation of the token associated with the protocol.”

Finally, the report gives some advice to policymakers that EUBOF believes will ensure the adoption of blockchain technology in Europe. European regulators should take a “wait and see approach” and let designers and developers “experiment and learn” how to best use blockchain technology before implementing laws and regulations. Policymakers, meanwhile, should be well-versed in blockchain technology and work alongside established participants in the blockchain industry to develop a regulatory and legal framework.

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How to Follow the 2019 SXSW Blockchain & Cryptocurrency Track Sessions on AI, Cannabis and VC

Some of the companies include Ethereum Labs, Coinbase, Gemini, Microsoft, MIT, IBM, ConsenSys Labs and Ripple. Cameron and Tyler Winklevoss …
How to Follow the 2019 SXSW Blockchain & Cryptocurrency Track Sessions on AI, Cannabis and VCHow to Follow the 2019 SXSW Blockchain & Cryptocurrency Track Sessions on AI, Cannabis and VC

The 2019 SXSW Blockchain events will take place in Austin Texas, this week. The event is expected to receive the world’s biggest individual and corporate names in the cryptocurrency sphere but also general technology and finance. Discussions and deliberations likely to occur include topics ranging from the cannabis industry, adoption of cryptocurrency, artificial intelligence and also venture capitalism.

Notable Keynote Speakers

Some of the biggest names from many blockchain focused companies are expected to serve as keynote speakers for the event. Some of the companies include Ethereum Labs, Coinbase, Gemini, Microsoft, MIT, IBM, ConsenSys Labs and Ripple.

Cameron and Tyler Winklevoss (also known as the Winklevoss Twins) are co-founders of Gemini and are expected to speak at the event. Other names include David Schwartz – Ripple’s CTO, co-founder and Chief Editor of Crypto Briefing – Jon Rice and VP of IBM’s Blockchain Markets – Jesse Lund.

Sessions at the Event

Some sessions expected to take place at the event include

  • The Real World Applications of Blockchain

Taking place on the 13th of March from 5:00pm to 6:00pm at 77 Rainey Street, the session will have many stakeholders discussing notable advancements in Blockchain as a Service (BaaS) and how it can be used to handle safer transactions which will help secure trust and transparency in the sector. Also, the establishment by Australia of the first Blockchain Bond in the world, will be discussed. Some notable institutions whose top management will handle this session include Tide Foundation, Oracle, ShelterZoom and Kilroy Blockchain.

  • Blockchain Beyond The Hype: The Ripple Effect

This a session that will involve an interview of Ripple’s CTO – David Schwartz. The interview will be handled by Sara Silverstein from Business Insider and it will be a discussion on the possible effects of blockchain on the framework of the world’s current financial platform. This will be on the 14th of March and will go on for an hour, starting from 12:30pm. Venue is Hilton Austin Downtown Salon H 500 E 4th St.

  • The Future of Venture

This session will have a discussion involving top management from Republic Crypto, AIKON and ConsenSys Labs. The discussion will be based on how well startups could be powered and financed by blockchain and also a comparison between this type of cryptocurrency funding and other means of funding as it may affect the new sphere of cryptocurrency and digital finance in general. This will also be on the 14th of Match and will take place from 10:50-11:30. Venue is 606 E. 3rd Street, Austin TX, 78701.

  • The Future of Banking – De-Fi is Coming

The major discussion at this session will be Decentralized Finance or ‘De-Fi’. This will be handled by the Managing director and co-founder of CryptoBriefing – Jon Rice, Jeremy Millar from ConsenSys Labs and also the founder of Drum G Financial Technologies, Tim Grant. Other discussions would include the present banking industry and how it could be improved upon with the incorporation of decentralization. This is another session that will also take place on the 14th of March, happening between 1:00pm and 1:40pm. VENUE IS ALSO 606 E. 3rd Street, Austin TX, 78701.

  • Regulating Blockchain

This session will handle regulations of stakeholders in the cryptocurrency sphere as well as possible partnerships between stakeholders and the legislative arm of government, to create a more suitable environment for the sector. The session will happen on the 15th of March between 2:00pm and 3:00pm and will be handled by the Head of the Securities and Exchange Commission’s Distributed Ledger Technology Working Group – Valerie Szczepanik – and will be moderated by Daniel Kahan who is a Corporate Attorney at Morrison & Foerster, an international law firm. Venue for this session is Hilton Austin Downtown Salon C 500 e 4TH St.

Aim of the Event

The event seeks to do a few things including give an opportunity for consumers and stakeholders to network and also create awareness and sensitize people regarding the blockchain world.

Bitcoin, Ethereum, Ripple (XRP) and BCH Price Analysis: Today’s Coin Price Prediction Forecasts

Fintech Leaders Converge for 2019 SXSW Blockchain Events

The Real World Applications of Blockchain: Blockchain CEO’s and founders from tech firms Tide Foundation, Kilroy Blockchain, ShelterZoom, and …

This week Austin, Texas, will host many of the best and brightest innovators from the finance, technology, and cryptocurrency spheres for the 2019 SXSW Blockchain track. The event will cover the future of blockchain’s impact on everything from venture capitalism and artificial intelligence to the cannabis industry and food safety, and ultimately, the continued integration of distributed ledger tech into the global mainstream.

SXSW will also provide a forum for keynote speakers from forward-thinking, pro-blockchain companies such as:

  • Microsoft
  • IBM
  • MIT
  • Ripple
  • Ethereum Labs
  • ConsenSys Labs
  • Coinbase
  • Gemini

Speakers include luminaries such as Cameron and Tyler Winklevoss, co-founders of Gemini; David Schwartz, CTO of Ripple; Jesse Lund, IBM’s VP Blockchain Markets; and (ahem) Crypto Briefing’s own co-founder and Chief Editor, Jon Rice, who will speak at a ConsenSys event on the evolution of blockchain based banking.

Speaking of ConsenSys, their Ethereal Summit is now well underway at The Blockchain House, 606 E. 3rd St, Austin TX. The team has dozens of events planned, and the Ethereal Lounge has drinks, food, and a Zen Zone for decentralization decompression.

Some of the can’t miss sessions to be held in this week’s event include:


The Real World Applications of Blockchain: Blockchain CEO’s and founders from tech firms Tide Foundation, Kilroy Blockchain, ShelterZoom, and Oracle share some of the latest innovations in Blockchain as a Service (BaaS) uses including securing transactions, ensuring transparency, and Australia’s creation of the world’s first Blockchain Bond. The session takes place on March 13, from 5:00- 6:00 at Lucille 77 Rainey St.

Blockchain Beyond The Hype: The Ripple Effect: During which Business Insider’s Sara Silverstein will interview Ripple’s David Schwartz converse on how blockchain alters the foundations of the global financial system, and the advent of the newest facet of the digital revolution: the internet of value. This session will take place on March 14, from 12:30-1:30 pm at Hilton Austin DowntownSalon H 500 E 4th St.

The Future of Venture: Partners at ConsenSys Labs, AIKON and Republic Crypto will discuss the new wave of blockchain financed startups, how leveraging cryptocurrency as a means of funding and financing compares to traditional venture practices launching businesses in the new digitally financed world. The session will take place on March 14, from 10:50-11:30 am at 606 E. 3rd street Austin TX, 78701

The Future of Banking- De-Fi Is Coming: CryptoBriefing co-founder and Managing editor Jon Rice joins Tim Grant, founder of Drum G Financial Technologies, and Jeremy Millar of ConsenSys Labs to discuss the emergence of ‘De-Fi’ or Decentralized Finance. They’ll also cover the current state of the banking system, and the rapid integration of decentralization into the way banks handle transactions. The session will take place on March 14, from 1:00 to 1:40 pm at 606 E. 3rd street Austin TX, 78701

Regulating Blockchain:Valerie Szczepanik, Head of the Securities and Exchange Commission’s (SEC) Distributed Ledger Technology Working Group, will chat with Daniel Kahan, Corporate Attorney at international law firm Morrison & Foerster, about the future of regulating the cryptocurrency space, legislative hurdles, and collaborations between entrepreneurs and lawmakers to promote blockchain usage. The session takes place on March 15, from 2:00 to 3:00 pm at Hilton Austin Downtown Salon C 500 E 4th St.

Aside from promoting awareness and education on the cryptocurrency space, the SXSW Blockchain Event will provide networking opportunities for attendants and speakers alike, a forum for the exchange of ideas regarding blockchain tech and build upon the already fast growing movement of global decentralization.


The author is invested in digital assets.

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80% Of All Ethereum Are Held In 7572 ETH Addresses, Report Shows

Notably, Delphi Digital is a company that aims to produce unbiased content concerning digital assets and Distributed Ledger Technology (DLT) and to …
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Recent research by a digital asset research company, Delphi Digital reveals that 7,572 addresses hold over 80 percent of Ethereum cryptocurrencies in circulation today.

Addresses Hold Over A Thousand Ethers

According to the report, it noted that over 80 percent of Eth in circulation are held in the addresses with a balance higher than 1,000 ETH. The total sum of the addresses is noted as 7,572.

Also, the report of the research broke down the total number of these addresses by the volume of ETH they contain. It noted that about 6,490 addresses hold between 1,000 and 10,000 ETH, 923 addresses hold between 10,000 and 100,000 ETH, 155 between 100,000 and 1,000,000 ETH and only four between 1,000,000 and 10,000,000 ETH cryptocurrencies.

Further, the report by the company revealed that the price of ETH has dropped by an average of 19 percent 30 days after each of the past five hard forks.

Meanwhile, the last hard fork before the recent Constantinople and St. Petersburg updates only saw Eth’s drop by 1 percent. The report noted that this could have been caused by the decrease in block reward from 5 ETH to 3 ETH.

2.3 Million Ethers Staked In Decentralized Finance Apps

Delphi Digital also revealed in the report that the total number of Ethers are staked in decentralized finance apps. It noted that as of March 3, over 2.3 million Ethers which is said to be about 2 percent of total supply.

About 98 percent of the ETHs staked in decentralized finance app is reportedly in MakerDAO smart contracts, which permits the creation and destruction of the Maker’s decentralized stablecoin, Dai (DAI). Also, the second decentralized finance app with the most staked ETH is the decentralized lending platform, Compound, which holds about 28,500 Ethers.

Risk Ahead

Further, the report noted the future risk of Ethereum. It raised concerns about the alleged centralization of Infura the infrastructure-as-a-service arm of Ethereum-focused development company, ConsenSys. This aids DApp developers to deploy their DApps without hosting their full nodes.

But, the report argued that developers rely on an infrastructure entirely operated by ConsenSys and hosted by Amazon Web Services, which creates a single point of failure that decentralization is meant to avoid.

Notably, Delphi Digital is a company that aims to produce unbiased content concerning digital assets and Distributed Ledger Technology (DLT) and to provide analysis services to institutional clients.

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Over 80 Percent of Total ETH Supply is Held by 7572 Addresses: Research

Over 80 percent of the total circulating supply of Ethereum (ETH) is held by 7,572 addresses, claims a report released by digital asset research …

Over 80 percent of the total circulating supply of Ethereum (ETH) is held by 7,572 addresses, claims a report released by digital asset research company Delphi Digital on March 7.

More precisely, the data contained in the report claim that over 80 percent of the total supply of ETH coins are held by addresses with a balance higher than 1,000 ETH. The number of such addresses adds up to 7,572. The research breaks down the total number of addresses by volume of ETH they contain, stating that 6,490 addresses hold between 1,000 and 10,000 ETH, 923 of them hold between 10,000 and 100,000 ETH, 155 between 100,000 and 1,000,000 ETH and only four between 1,000,000 and 10,000,000 ETH.

In the same document, the company also claims that the price of ETH has dropped an average of 19 percent after each of the past five hard forks, over the following 30 days.

Still, the most recent hard fork before last month’s Constantinople and St. Petersburg updates actually saw the price of ETH decrease by under one percent, which the report suggests is in part due to the decrease in block rewards from 5 ETH to 3 ETH.

The researchers also pointed out that as of March 3, over 2.3 million Ethereum (about 2 percent of the total supply) was present in decentralized finance apps.

Most of the ETH being staked in decentralized finance apps — reportedly 98 percent — is in MakerDAO smart contracts, which permit the creation and destruction of the Maker’s decentralized stablecoin Dai (DAI). The second decentralized finance app with the most staked ETH is the decentralized lending platform Compound, which held roughly 28,500 Ethereum as of March 3.

Lastly, the report also raises concerns over technical risks facing Ethereum in the near future. In particular, the documents points to the alleged centralization of Infura, the infrastructure-as-a-service arm of Ethereum-focused development company ConsenSys. Infura allows DApp developers to deploy their DApps without hosting their own full node.

However, by using Infura, the report argues, developers rely on infrastructure entirely operated by ConsenSys and hosted by Amazon Web Services, which creates a single point of failure that decentralization is meant to avoid.

The report’s author, Delphi Digital, positions itself as a company aiming to produce unbiased content concerning digital assets and Distributed Ledger Technology (DLT) and to provide analysis services to institutional clients. The company also counts Morgan Creek Digital Assets founder Anthony Pompliano as a member of its board of directors.

As Cointelegraph reported in December last year, Pompliano forecasted that Bitcoin (BTC) had still “lower to go” in the short term before it hit bottom, despite the bull run to above $4,000 that happened at the time. A month before that, he also defined Bitcoin as the world’s best-performing asset over the past ten years.

Another recent report on Ethereum, this time by crypto asset management firm Electric Capital, claimed that Ethereum has the most developers working on its base protocol of all cryptocurrencies, not counting community project developers.

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