Blockchain Voting - Immutable Election Results

Rekt Radio: Tech Leader Interview #2 with Russell LaCour of Tantra Labs

Russell LaCour, Bitcoin Class of 2011, drops some knowledge bombs on bitcoin as a reserve currency, his experience in the space as a miner on his laptop, the growth of bitcoin in response to the world instability, and Tantra Lab's effort to on-board investors bullish on #BTC [https://www.youtube.com/hashtag/btc]​. https://tantralabs.io/ [https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbDhuMTlYUzR4dnYyNWtvMnYyRWlhQmQ4eFBjd3xBQ3Jtc0trLXhIV2xLdm45cUN1b1NuVGl0QTRQbTdZVERQN0x0QWNwRC1FWXEyNDU4VnBid2FJcnp1ZXRMVTQ5MGNONHdmVGpMVlhPNXN3dFFqb3RoaGkzeUxTNEoxbVVITlhvWXZ5ZzBCSXk5UWNlczB3QUJzUQ&q=https%3A%2F%2Ftantralabs.io%2F] ​ Timestamps 0:00 [https://www.youtube.com/watch?v=dEFGodccL9s&t=0s]​ Intro 2:10 [https://www.youtube.com/watch?v=dEFGodccL9s&t=130s]​ what is algorithmic trading? 3:00 [https://www.youtube.com/watch?v=dEFGodccL9s&t=180s]​ what is a market maker? 4:40 [https://www.youtube.com/watch?v=dEFGodccL9s&t=280s]​ large traders almost entirely use bots 5:50 [https://www.youtube.com/watch?v=dEFGodccL9s&t=350s]​ automated bot trading platforms used by institutional traders and retail traders alike 7:35 [https://www.youtube.com/watch?v=dEFGodccL9s&t=455s]​ Russell’s backstory as a 2011 bitcoin miner 9:15 [https://www.youtube.com/watch?v=dEFGodccL9s&t=555s]​ The future is not denominated in inflationary currency 11:45 [https://www.youtube.com/watch?v=dEFGodccL9s&t=705s]​ The pandemic put crypto on the main stage 13:05 [https://www.youtube.com/watch?v=dEFGodccL9s&t=785s]​ bitcoin on sovereign balance sheets 15:25 [https://www.youtube.com/watch?v=dEFGodccL9s&t=925s]​ Tim Draper taking meetings with South American world leaders to introduce bitcoin as a Stability mechanism for sovereign fiat 18:20 [https://www.youtube.com/watch?v=dEFGodccL9s&t=1100s]​ tantra labs mission and investment philosophy #bitcoin [https://www.youtube.com/hashtag/bitcoin]​ #btc [https://www.youtube.com/hashtag/btc]​ #cryptotrading [https://www.youtube.com/hashtag/cryptotrading]

Blockchain Voting - Immutable Election Results

So I've been getting a lot of messages on Twitter and LinkedIn, about how the blockchain can materially affect the future of voting. A lot of people are frustrated with the mail process and how it seems that the mail at very least was slowed down, and people are reporting to me, based on some news sources that the delivery rates and a lot of heavily left leaning counties and states have been slowed down to the extent that less than 70% of pieces of mail are arriving at their intended target. During the dates that they should be and for the USPS, the typical delivery rate is well over 95%. So for under 70%. You know you're talking about a considerable drop. And if you'll remember there was some cuts that was there were instituted into the USPS. And a lot of the Democratic leaders were talking about how that was used as a way to slow the mail. Or at least, cut off some intermediary parties that expedited things so that is a consideration and then also there. This is largely being done in states where there is no grace period. And if it's not delivered on Election Day, then it doesn't matter so what people are telling me is that certain, you know, whomever are finding heavily left leaning counties and proceeding to slow the mail, so that the MC ballots, which, you know, run heavily left leaning will not be delivered in time and thus those votes won't be counted. So they're saying what can we do with blockchain How can that be a solution to the problem that we're having, and I think it comes down to, if the blockchain was ever integrated into some sort of election, then you could do it using a few different consensus mechanisms that would provide that trustless technology you know would take the core issue of can this ledger be messed with can it be is it immutable or is immutable, and will these numbers hang up and do we have confidence as the public that when we are looking at a particular vote that it does reflect the true sentiment of the voter. And as it stands with the payment rails out there Bitcoin. And, you know, aetherium and all that. the amount of resources that it would take to what's called rollback a transaction or do a double spend or essentially messed with the technology itself is really high. So, it could be done but you'd have to amass all of the available resources that are, you know, put out there on the internet you have to have pools you'd have to really have some coordinated attack the likes of which, Unknown Speaker 3:33 you know, had never been seen. Unknown Speaker 3:36 And I guess it would be possible but the way you can get around that for blockchain voting is have a permissioned blockchain where the node holders you know being trusted bodies that are transparent to the public are able to get one portion of the ledger. And then it can be watched in real time. And, you know, records of that will be put on what's called the ipfs. And so, it's not all whole held up on one central server it's distributed through a number of different servers. And with that, technology, you would be able to have people checking and then people checking the people who are checking. And I think that that's further, or closer than a lot of people anticipate as it is governments are playing in a real way with central banks, using blockchain technologies as you may know like large corporations are already using on a wholesale basis, financial companies like JP Morgan are completely flipping on the issue of blockchain for decentralized finance and otherwise, and, you know, to lead the way in FinTech. So I think the horizon for blockchain voting is not that much further along, and the possibility of it being instituted in the next few decades, is high, and the consensus mechanisms, you know, the voting can be done, you know, very easily. They have a bunch of id Software's out there that are, you know, you can have it so that it reads your biometric information, you can mean if you see a thing it's like id.me, you go on there and not only do you have to have an ID, but you also have to have a phone that is taking a picture of your face next to the ID, and then it gets all sorts of biometric information there about your face and the face in the picture and all that so the technology, I think, is there to prevent against some large scale, fraud. And then, a lot of the attacks that are being done out there to get into these corporate computers are pretty old attacks, you know DDoS is denial of service attacks. These are 20 years old. And if you'll remember from a few years ago, a lot of the passwords, many many thousands were just in a dot txt file on one of the Google, I'm sorry Facebook computers. So, the sophistication is very low, even for a lot of these big companies that are you know Fang companies that are in tech that are leading the tech revolution. So, if you go about it in a real concerted way to have government embrace blockchain technology and make it so easy for the consumer, so they can you know go to the library use a computer or even using those polling computers because see when I voted yesterday. You went in and it was all touchscreen and it looked like a really higher end computer a higher and more higher end computer than I certainly had at the office. Um, so, I think the opportunity is there. And then, yeah, maybe just a good government contractor that can break it down and make sure that all of the i's are dotted and the T's are crossed as it relates to compliance and cybersecurity best practices, and you could have a much more trusted process, at a time when the belief, and the trust in the voting process is understandably circumspect.

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The Distributed Web, with InterPlanetary File System leading the way, is almost here

So I wrote a little article on medium on my username, DeFi Daily, feel free to check it out, but I did a little bit of a deep dive into this distributed web and how I really do feel like that is the future. I'm sure that if you've been in the ecosystem for any amount of time, you've heard about the interplanetary file system that's being used by unstoppable domains and a lot of the projects out there that are trying to decentralize the content that they want out there. So whether it be a website or really anything that distributes the ability to have a centralized hub where something can get attacked. Or the concentration of all the servers are in one place that can be denied from access to a country citizens. One of the most challenging low-level cybersecurity attacks affecting sites are DDOS attacks that hit a lot of sites with a just millions and millions of botted traffic, so abundant that they take servers down and it's a really inexpensive attack to do, but it can cost a lot to a business because they're really cumbersome to resolve. And I think one of the interesting things about this project Unstoppable Domains is at the root of it. They host their .crypto and .zil as ERC 20 tokens. Or it may be ERC-721, but they're non fungible, Ethereum tokens. And they give you access to certain domains. I think it's $40 and then you own it forever. And then the website itself would be redirected or hosted on the. Decentralized or distributed web using this interplanetary file system. And really the meat of what they do with the redirect is just through a Chrome extension. So essentially it allows them to bypass the need for ICANN. And I wonder about whether that'll be the future.. A new internet layer, just kind of like how the dark web will use tour, which is really just a modified version of Firefox. Like whether the additional layers of future distributed web will be just a matter of integrating a extension. And then, you know what we know now to the.com and things that people are paying astronomical amounts for, because they think will be the foundation for the future of the internet. A wouldn't necessarily be so, and you haven't seen a lot of traction in the. Smaller TLDs or like a vanity TLDs with domains and, you know, people will gobble them up. And then, and certainly the unstoppable domains got a ton of traction. I see people gobbling up the .zil and .crypto domai names and I think on Twitter, you see a lot of .eth names too. So, whether that continues to hit traction, I don't know, but I do know that the core architecture behind it is substantially less complicated. It's still ambitious relative to a lot of the crypto projects out there, but really the power of the extension to transform the browser experience can not be understated. And that could be a large portion of the future. And you definitely are subject to the winds of Google and the people that have the browser. But if you have your own chromium version, like Brave does, then you have that open source architecture and you can build upon it. So perhaps an I can type a company will emerge, has its own core browser that people have to go to not out of speed or convenience but necessity. So I'm writing a few more of these articles so feel free to follow me at DeFi daily. And I'm trying to cover topics related to DeFi, DAOs, virtualization and the distribution of these files on the distributed web. So check it out.

DeFi: Sun Challenging Buterin

You’ve probably seen that DeFi is heating up, which would be an understatement. And last 24 hours, it was really been rough for a lot of crypto, I guess what started it off is that a bunch of whales liquidated on various exchanges and that sent Bitcoin into a tailspin. Whenever macro forces were at work, it almost kissed 12,000 and now it’s down to almost 10,000. One must also bear in mind that all crypto is pegged to Bitcoin. Essentially, if you go to on any major exchange, they’ll all have BTC crypto swap pairs or crypto pairs. So when Bitcoin goes down, most all the ecosystem follows, except fiat or commodity-pegged tokens, but everyone’s materially affected except in the last 24 hours, you’re seeing Tron actually actually go higher. The reason? JustSwap. Justswap is the brain child of, as you might expect by the name, Justin Sun, the leader and architect of Tron. Justin is rolling out all sort of DeFi plays and is actively trying to be the effective Ethereum killer in the space. His chief tool is this Uniswap V2 clone in JustSwap, coupled with $SUN and other Yearn.finance-type fair-launch plays. And the difference between Uniswap V2 and V1 is that V2 actually sends you tokens that are representative of your portion of the pool. And what’s kind of interesting with JustSwap is it takes that Uniswap open source protocol and they integrate as the balancing pair TRX, which serves to further limit the circulating supply of TRX, allowing buying pressures to press the price upward. And the thing with Ethereum right now is that even Vitalik Buterin will say that Ethereum is under stress due to the costs of doing a transaction being prohibitively high. It’s to the point where some people were doing screenshots of it costing $35 to push through a standard transaction they wanted with some degree of swiftness. A few days ago it was 450 Gwei for a half an hour confirmation, which is insanity, because I remember I would wait half an hour when the Gwei got to 10 and I’m like, I’m not paying 10. Now it’s almost 50 times that. If people are trying to do DeFi on Ethereum, they’re seeing that let’s say they put in a thousand dollars, which you less than the vast majority of transactions. And if you’re going stake into DAI for a pretty high yield at the top single digits or ~10% then if it’s $35, that’s 3.5% percent off the bat, representing almost four months in the hole before you even begin getting a positive return. While banks do often give 0.1% or nothing at all on a checking or savings, at least it’s FDIC insured such that your access to the principal is sound and swift. So the high rate of return is an attractive proposition, but you either have it to go into it with many hundreds of thousands in order for that $35 to be a blip. Or you have to figure something out with gas so that you put a transaction in only when the gas hits a certain amount for a half an hour confirmation so it doesn’t get lost and you have to send it through again, or you have to pay something in order to even cancel the transaction, to get back the original principle of what you were sending out. Tron doesn’t have these high transaction fees issues. You can stake or “freeze” your tron coins and you’ll get some allocated “energy” to do transactions. And then you can also lease Tron energy. Tron compares most closely to EOS with their “freezing” feature having much in the way in overlap to EOS’ CPU model that requires a similar stake and reward to do functions with the blockchain mainnet. It’s proving to be a workable way to do DeFi and people are getting some traction. I saw DeFi watchdog Chris Blec mentioning Tron and some of the ones that are making some headway against Ethereum. The $Sun token that Justin Sun rolled out most closely mirrors the Yearn. Finance token. They allow you to stake your tokenization of your position in your chosen JustSwap to be granted this other type of token: Pearls, Hotdogs,...