This is the second post of our Spreading Crypto series where we take a deep dive into what it’ll take to help this technology reach broader adoption.submitted by mickhagen to genesisblockhq [link] [comments]
Mick exploring the state of apps in crypto
Our previous post explored the history of protocols and how they only become widely adopted when a compelling application makes them more accessible and easier to use.
Crypto will be no different. Blockchain technology today is mostly all low-level protocols. As with the numerous protocols that came before, these new, decentralized protocols need killer applications.
So, how’s that going? Where is crypto’s killer application? What’s the state of application development within our industry? Today we’ll try to answer those questions. We’ll also take a close look at decentralized applications — as that’s where a lot of the developer energy and focus currently is. Let’s dive in.
Popular Crypto ApplicationsThe most popular crypto applications today are exchanges like Coinbase and Binance — each with tens of millions of users. Other popular crypto exchanges include Kraken, Bitstamp, Gemini, and Bitfinex. In recent years, new derivatives platforms have emerged like FTX and Deribit.
Beyond the fact that the most popular crypto applications are all used for speculation, another common thread is that they are all centralized.A centralized application means that ultimate power and control rests with a centralized party (the company who built it). For example, if Coinbase or Binance wants to block you from withdrawing your funds for whatever reason (maybe for suspicious activity or fraud), they can do that. They have control of their servers so they have control of your funds.
Most popular applications that we all use daily are centralized (Netflix, Facebook, Youtube, etc). That’s the standard for modern, world-class applications today.
Decentralized ApplicationsEven though the most popular crypto applications are all centralized, most of the developer energy and focus in our industry is with decentralized applications (dApps) and non-custodial products.
These are products where only the user can touch or move funds. Not even the company or developer who built the application can access or control or stop funds from being moved. Only the user has control.
These applications allow users to truly become their own bank and have absolute control of their money.They also allow users to perform blockchain transactions and interact directly with decentralized protocols. Some of the most popular non-custodial products include Ledger, MetaMask, and MyCrypto (#ProudInvestor).
While the benefits of this type of application are obvious (user has full control of their funds), it comes with a lot of tradeoffs. We will cover that later in this post.
Libertarianism + CryptoIf the most popular applications tend to be centralized (inside and out of crypto), why is so much of our community focused on building decentralized applications (dApps)? For the casual observer, that’s a reasonable, valid question.
“Not your keys, not your coins.”This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets or dApps), then it’s not really your crypto.
Engrained in the early culture of Bitcoin has always been a strong distrust for centralized authority and power — including the too-big-to-fail government-backed financial system. In the midst of the Financial Crisis, Satoshi Nakamoto included this headline in Bitcoin’s genesis block: “Chancellor on brink of second bailout for banks.” There has always been a close connection between libertarianism & cryptocurrency.
So it’s no surprise that much of the crypto developer community is spending their time building applications that are non-custodial or decentralized. It’s part of the DNA, the soul, the essence of our community.
Personal ExperienceWhen I was at Mainframe, we built Mainframe OS — a platform that developers use to build and launch decentralized applications (dApps). I’m deeply familiar with what’s possible and what’s not in the world of dApps. I have the battle scars and gray hair to prove it. We’ve hosted panels around the various challenges. We’ve even produced videos poking fun at how complicated it is for end-users to interact with.
After having spent three years in the trenches of this non-custodial world, I no longer believe that decentralized applications are capable of bringing crypto to the masses.While I totally understand and appreciate the ethos of self-sovereignty, independence, and liberty… I think it’s a terrible mistake that as a community we are spending most of our time in this area of application development. Decentralized applications will not take crypto to the masses.
Overwhelming FrictionThe user friction that comes with decentralized applications is just too overwhelming. Let’s go through a few of the bigger points:
What Our Industry Has WrongDecentralized applications will always have a place in the market — especially among the most hardcore crypto people and parts of the world where these tools are essential. I’m personally an active user of many non-custodial products. I’m a blockchain early-adopter, I like to hold my own money, and I’m very forgiving of suboptimal UX.
However, I’m not afraid to say the poop stinks. Decentralized applications simply cannot produce the type of product experience that mainstream consumers expect.If the goal is growth and adoption, as a community I believe we’re barking up the wrong tree. We are trying to make fetch happen. It isn’t gonna happen. Our Netscape Moment is unlikely to arrive as long as we’re focused on decentralized applications.
\"Mean Girls\" movie
There’s a reason why the most popular consumer applications are centralized (Spotify, Amazon, Instagram, etc). There’s a reason why the most popular crypto applications are centralized (Coinbase, Binance, etc).
The frameworks, tooling, infrastructure, and services to support these modern, centralized applications are mature and well-established. It’s easier to build apps that are fast & performant. It’s easier to launch apps that are convenient and on all form-factors (especially mobile). It’s easier to distribute and promote via all the major app store channels (iOS/Android). It’s easier to patch, update, and upgrade. It’s easier to experiment and iterate.
It’s easier to design, build, and launch a world-class application when it is centralized! It is why we’ve chosen this path for Genesis Block.---
Other Ways to Consume This Content:
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
submitted by benohanlon to komodoplatform [link] [comments]
A total prize pool of 7,000 KMD in our infographic contest
Calling all creatives to take part in our infographic contest and compete for a prize of 7,000 KMD. The winning infographic will explain the architecture of Komodo Platform’s technology. Winners will be those who are able to communicate our architecture and tech visually. This contest will run primarily on Reddit, with the exception of resources being posted to Medium and a master twitter thread for submissions on Twitter. You'll find links at the bottom of this post.
Prizes for winning infographics.Are you a creative designer? Here's what you can win…
Prizes for sharing and giving feedback!Not a designer? That's OK. You can still participate and win! We'll award five lucky winners 100 KMD each for sharing and promoting the contest. Winners will be picked in a raffle. If you'd like to take part click here https://gleam.io/MwMtO/komodos-20-infographic-contest-5000-kmd-grand-prize and share this post with your friends.
Our Criteria to JudgePlease note that upvotes and shares are not the only criteria we'll use to judge winners. While useful, we will value creativity, good questions and discussion on Reddit highly. When sharing your posts you will score more highly if people comment, provide feedback and are engaged.
How do you win?You may submit up to two infographics. By submitting an infographic, you understand Komodo may post and use your submissions on our digital channels during and after the contest. Each infographic must have it's own post.
Contest Timeline Guide (these dates indicative and are subject to change).
ResourcesIf you need help please post in this thread, or email [[email protected]](mailto:[email protected]) with ‘Infographic Contest’ in the subject line.
Entries and submissions for the infographic contest. You can click here to see them all in a scrollable thread on Twitter.
25/09/18 - First Round of FeedbackInfographics should use graphical design elements to visually represent the Komodo Architecture Story found here: https://komodoplatform.com/komodo-platform-a-brief-overview/ included in our ‘required reading’. There’s also a bullet point aid: https://medium.com/@benohanlon/bullet-point-aid-to-help-you-the-history-of-komodos-architecture-dced35b29965 you may find useful.
If you’ve not been included in the first round it’s because the submission hadn’t been made when the team reviewed. Don’t worry though because we’re organising hangouts and further feedback to help.
We hosted a round of live feedback sessions via Zoom. The recording is here:https://soundcloud.com/blockchainists/zoom-call-first-round-of-feedback-for-komodos-infographic-contest#t=3:50
TimelineThe first block in the KMD blockchain was mined just under two years ago, on September 13, 2016 to 9:04 PM. Since then, Komodo has demonstrated a commitment to innovation and established a history of execution.
If you would like to update your post, please edit and add to the post so people can see the different iterations. Entries and submissions for the infographic contest. You can click here to see them all in a scrollable thread on Twitter.
Earlier this year, The Daily Chain reported on the infamous Chinese Bitcoin Ponzi scheme called the PlusToken. The group of scammers duped people of nearly $3 billion both in Ethereum and Bitcoin. They started off in 2018 and lured in victims by offering a huge return on investment. But to everyone’s despair, the company website suddenly went dark and the money disappeared. DMM Bitcoin (formerly Tokyo Bitcoin Exchange) is an exchange that incorporates the financial services know-how cultivated through DMM.com Securities. In the ranking evaluation, it is still only a major company, Improve operational reliability and security Large spread (hidden commission) due to sales office Therefore, the low fee is 4.1, which is slightly lower. The price has gone from pennies per coin to around 9K dollars in 11 years. There's a reason for that. It's not because some people are crazy big nerds in their Mom's basement. (Which isn't such a terrible thing 😉 Bitcoin has a purpose. It was created with a vision. A payment system that can't be manipulated for any reason. Girls Gone Bitcoin (NSFW) CryptoMarkets; BitMarket; BitcoinDiscussion; BitcoinTechnology; Best of Crypto; Non-Bitcoin communities. Technology; Economics; Crypto; Anarcho-Capitalism; CryptoCurrency; CryptoAnarchy ; Join us on IRC. webchat.freenode.net #bitcoin. Other Bitcoin sites. Bitcoin Forum Bitcoin Stack Exchange Bitcoin Magazine. Download Bitcoin Core. Bitcoin Core is the backbone of the ... Bitcoin for Girls on TWITTER. If you are here? You are ahead of the curve and looking into this now. make sure you get a sense of this "space" and what's gone on for the past 11 years. You can get much more background under my favorite Podcasts. The platform r/GirlsGoneBitcoin (GGB), Reddit’s first virtual strip club where Bitcoin was the favorite form of payment, was shut down by the website during last week, but has already reopened with a new name, GirlsGoingBitcoin, and new rules.. The founders of the service are “still waiting to hear back from Reddit as to whether or not they will unban the original subreddit”, the ... Download Bitcoin Core. Bitcoin Core is the backbone of the Bitcoin network. Almost all Bitcoin wallets rely on Bitcoin Core in one way or another. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. You can also use Bitcoin Core as a very secure Bitcoin wallet. Binance Charity has wrapped up its first year’s work with more than 100,000 people helped. In the past year, Binance Charity Foundation has delivered lunch to over 5,000 students in 11 schools, stationery and solar panels to 51 schools, and sanitary pads to over 10,000 young girls at 55 schools. Good and bad News about Bitcoin Menu Skip to content. Home; Bitcoin Ankauf-Verkauf = Buying-Selling; Bitcoin.name for Sale! Contact us ; We hire talents; Category Archives: Binance Launchpad. Auto Added by WPeMatico. Crypto Exchanges Cast IEO Spell, Global FOMO in Effect. Leave a reply. After months of research and development, global crypto exchanges finally revealed a new magical weapon in ... Binance users can now buy Bitcoin with practically all of the fiat currencies in existence; Binance, which is one of the leading cryptocurrency exchanges in the world, has partnered with the peer-to-peer crypto exchange Paxful. Via this partnership, Binance users can now use 167 different fiat currencies to buy Bitcoin.
[index]          
Bitcoin Technical Analysis & Bitcoin News Today: Binance will launch Bitcoin leverage trading. This mean that Binance will compete with BitMEX and Bybit. Also, I'll use technical analysis on the ... Shocking News As Binance Bitcoin Hack: Over $40 Million Of Cryptocurrency Stolen This video will show you overview about the hacker hack the Binance Exchangers , How the hacker hack the network of ... Ledger Live Bitcoin BTC News & Ledger Wallet Updates Thẩm mỹ viện Ngọc Hường 14,071 watching Live now WARNING: The Truth About Bitcoin - Duration: 15:59. 🚨 Binance Has Gone Off The Rails 🚨 Is Rolling Back Bitcoin A Possibility? ... $10 Of Free Bitcoin, Coinbase Referral: https: //goo.gl/qKZMmB Ledger Hardware Wallet Referral: https://goo.gl ... #binance #crypto #bitcoin #bnb #binanceus #cryptocurrency #btc #ethereum #eth #altcoin #altcoins #bestcrypto #chicocrypto #wealth #rich #money The information contained herein is for informational ... 🏆 Buy Bitcoin to Trade at Coinbase and get $15 discount: https://bit.ly/2Us4Qto 🏆 Get $30 off a TradingView account: https://bit.ly/3bBGOSs 🏆 Get 10% reduction in fees for 6 months by ... My Second Channel: https://www.youtube.com/channel/UCvXjP6h0_4CSBPVgHqfO-UA ----- Supp... Aprenda como ganhar dinheiro, como economizar e como sair das dívidas com o CANAL DINHEIRO ════════════════════ BINANCE COM 15% DE DESCONTO: https://www ... KFC Now accepts bitcoin. Its official, bitcoin is now considered money. Binance gets 240,000 new users in an hour. Plus cryptocurrency going mainstream in japan with cryptocurrency girls pop band.