Gladstone Arantes, a director of the Brazilian Development Bank (BNDES), gave new details about the progress of the Brazilian Blockchain Network, a project that has been in development since 2018. The network will be created on top of the Hyperledger Besu 2.0, which uses a proof-of-authority consensus mechanism. The final goal of this project is […]
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In the Lightning Network, inbound liquidity is a precious resource. The Galoy Research team detected an irregularity, and, trying to fix it stumbled into a whole business model. Their elegant solution transforms a problem into dollars, which is remarkable. This case reads like a detective novel. Let’s dive in. Related Reading | Lightning Speed: Podcasting 2.0 And Its Relationship With The Lightning Network Liquidity Leechers And Inbound Liquidity In the article “Galoy Research: Self-Balancing Fee Structures for Inbound Liquidity,” the company describes the problem to then lay on us the solution. Galoy are the creators of the Bitcoin Beach Wallet that Bitcoinist described here. The irregularity that the team detected was this one: “Galoy CEO Nicolas Burtey noticed that the onchain hot wallet was being depleted by a subset of users. These users consistently sent offchain bitcoin to the Bitcoin Beach Wallet only to withdraw it again onchain.” The company had to “use submarine swaps to replenish our onchain wallet and regain some inbound liquidity.” The thing is, “inbound liquidity is a valuable resource on the Lightning Network. The “liquidity leechers” were using Bitcoin Beach Wallet as a less expensive alternative to a service like Loop from Lightning Labs.” How Does Loop Manage Outbound And Inbound Liquidity? The service’s official website describes Loops as “the easiest way to manage inbound and outbound liquidity on the Lightning Network”. The service has two sides. On the one hand, “Loop In enables typical users to “refill” their Lightning wallets when funds are depleted”. On the other, Loop Out is for: “Merchants, services, and users who primarily receive funds via Lightning, Loop Out serves as a bridge, allowing funds to be sent out of the Lightning Network to “on-chain” destinations like exchange accounts or cold storage systems.” Instead of trying to catch the people who were “using Bitcoin Beach Wallet as a less expensive alternative to a service like Loop,” Galoy developed a product for them. BTC price chart for 03/16/2022 on Binance | Source: BTC/USD on TradingView.com A Dynamic Fee Back to the article, the adventure begins. “Nicolas and Galoy data scientist José Rojas Echenique set out to diagnose the issue and try to find an appropriate solution”. The duo “first looked at historical data to get a better sense of the problem”. Surprisingly, they found out that “the price of inbound liquidity is roughly similar, no matter how you get it.” Here’s where the product appears: “They then looked for a solution that would charge this roughly similar market rate across the full range of use cases – including those using Bitcoin Beach Wallet as a loop out service. The result is a dynamic fee structure (as described in the report) that charges each user a fair amount based on how they are using the service.” Instead of excluding “those using Bitcoin Beach Wallet as a loop out service,” the company included them. They put a price tag on the service and kept it pushing. How does the actual report describe this “dynamic fee structure”? “From the perspective of user experience, this approach trades high fees for simplicity. It does not account for the balancing effects of a user’s previous or future transactions, and therefore over-charges users.” “A smoother dynamic fee formula would take into account a user’s previous transactions, and charge users less if their current transaction balanced their previous transactions.” Continues Business Operations As Usual From a problem to a product in three easy steps. Back to the article, Galoy states their approach’s value proposition: “By solving the issue with fees, Bitcoin banks and other Lightning services can continue business operations as usual vs. attempting to detect and regulate actors who use their liquidity for looping.” Related Reading | Lightning Speed: What’s The Lightning Development Initiative? And, to close it off, the company summarizes the product’s advantages. “The result? An automated solution for Bitcoin banks, a good user experience for end users, and the right fees for all.” Featured Image by Jason Dent on Unsplash | Charts by TradingView
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As sub-Saharan Africa develops, it is becoming increasingly dependent on transportation services – worker and leisure commutes, freight and industrial material transportation, and other movement activities involved in building emerging economies are putting strain on the continent’s logistics. Many new entrepreneurs have seized the opportunity by starting taxi and parcel delivery services of their own. However, the majority of these enterprises rely on cheap motorcycles equipped with inefficient engines. Making up almost half of all vehicles being driven, the pollution emitted by these motorcycles is leading to ecological damage and an increased incidence of disease across sub-Saharan Africa. Wanting to make a difference, Bob Eco, an electric vehicle and renewable energy company, is on a mission to electrify as many of these motorcycles as possible. Offering free battery recharges, Bob Eco is giving drivers the opportunity to go green and save on refueling costs – each Bob Eco driver saves 5 tons of CO2 emissions per year and nearly quadruples their take-home pay. Based on real-world land surveys, Bob Eco’s headlining Model-X is the perfect e-bike for developing countries. It has been meticulously designed and engineered to elevate public expectations of what a taxi or ride-sharing motorcycle should be. Equipped with a comfortable extra seat and board-style tandem footrests, the Model-X can comfortably accommodate tandem riders. Additionally, sporting a rear carrier and suspension capable of handling heavy loads, the Model-X is perfect for carrying small to mid-sized parcels. In countries where only price counts and quality is left out of the equation, Bob Eco offers something unique. In developing countries, the majority of cheap petrol-fuelled bikes begin breaking down and requiring weekly repairs after only one year of usage, causing heavy costs for drivers. Bob Eco is making a difference by offering high-quality motorbikes that will last for 10 years and still cost the same to lease as a petrol-fuelled bike – the only difference being that the lease is stretched for a longer term. At the heart of the Model-X is Bob Eco’s proven powertrain, delivering both unprecedented range and a thrilling riding experience. And as with every Bob Eco vehicle, the Model-X is equipped with a class-leading rechargeable battery. Bob Eco’s batteries are built with a sturdy heat-wicking aluminum alloy shell and incorporate a technology that armors their cells. Thus, Bob Eco’s batteries are resistant to the elements and extremely durable, perfect for the terrain of developing countries. Also, repairs are something Bob Eco thought of since most of the roads are bad and there are many road accidents, for a new and unique model there should be a lot of spare parts and specialists that know how to repair a unique type of motorcycle. The complete motorcycle (except for the back wheel engine, batteries, and unique electrical components connecting the two) is built with the same parts that are being used for the large majority of the motorcycles. This makes finding replacements for 90% of the parts that need replacement during regular checks easy and cheap, also it doesn’t require specialist knowledge and special tools. Powered by two state-of-the-art lithium-ion batteries that can carry passengers up to 140 kilometers with a battery pack, making long-distance rides no problem. The batteries are not heavy to carry and can easily be removed from the locked battery holders. Model-X drivers are welcome to swap dead and dying batteries for freshly recharged ones at any one of Bob Eco’s charging stations, mapped out across Africa, completely free of charge. Combined with its overall design, this established the Model-X as the ultimate strategic motorcycle for emerging markets. It is perfect both for the planet and logistics entrepreneurs wanting to save money. The batteries used for the Model-X are the same ones used for the other African models, optimizing the efficiency of the Bob Ecosystem. All Model-X motorcycles and batteries are individually connected to the internet with a SIM card. Both also have an individual tracker hidden inside the structure, trying to remove or disarm will lead to deadlock to the motorcycle’s BMS (battery management system), rendering them useless. The battery management system is the brain of the smart motorcycles, not only does it give protection against theft, but it also helps to constantly analyze the motorcycle. It shows all the statistics of the battery, notices irregularities and maintains the battery’s quality. The battery management system shows where the motorcycle is located so they can be followed by the admin. The model-X can even be shut down by the admin. This is only done in case of theft and in case of payment defaults during the leasing period. Then the motorcycle can only be unlocked by either paying the owed amounts or by making an arrangement with the lessor. Also during the leasing period, the motorcycle is not able to leave its assigned driving zone, to avoid a lessee from stealing the motorcycle by driving off to another country or region. The Model-X was developed by the Bob Eco, Jincheng Suzuki partnership to create the ultimate motorcycle for the African market, so all elements described and more have been based on decades of experience in the two- and three-wheeler market in developing countries. Across their range of electric two and three-wheelers, Bob Eco offers a product for every task. Whether it be single-person or family transports, or hauling loads small or large, Bob Eco has drivers covered.
The IoTeX Foundation will examine all DApp developers thoroughly to ensure that they effectively enable machine financialization.
Viblos, a disintermediated, decentralized and direct revenue-based platform for content producers, has announced the upcoming launch of its White Paper 1.1. The platform is very near to its beta launch and community enthusiasm has been growing rapidly. The platform conducted its AMA session on February 25th amidst the growing community’s demand for more information. Through an algorithmic validation approach that’s based on community consensus, the Viblos platform allows its community to approve their works before introducing them to the market. The creators’ work is also monetizable on the platform. Viblos is a decentralized autonomous organization that was founded in order to give users control over the media that they create and consume on the platform. The Viblos’ DAO is the social media counterpart to Switzerland’s direct democracy. Governance is in the hands of its users, who are in charge of their own data and privacy. Over the past decade, prominent social media platforms such as Facebook, Instagram and Twitter have progressed from being basic entertainment venues to becoming a cornerstone in many communities’ way of life. Today, these sites are owned by a small number of major platforms that have complete control over the internet. While these platforms undoubtedly provide a respectable service to their consumers, the benefits they provide come at an exorbitant price which most users are unaware of. This is primarily due to the fact that the vast majority of users don’t actually read through all of the terms and conditions when joining a social networking site. In addition to disregarding consumer privacy, the algorithms and political inclination of these platforms are skewed when it comes to ranking content. The fact of the matter is that major social media platforms have taken on a dynamic that’s perilous for our right to free expression. What Makes Viblos Unique? Viblos is a tokenized mixed social network that promotes business, community building, and democratic, free-expression-based social interactions. While there are of course boundaries that should never be crossed, Viblos, unlike most of the major platforms, would never demonetize or censor someone for having a different perspective. Viblos is unique in that it not only incorporates concepts from major social networks, but has also pioneered a new business model and privacy policies in the social networking space. Viblos’ construct is reinforced by its blockchain and allows users to share and monetize their personal data in a transparent, secure, and verifiable manner. The Viblos token forms the heart of the Viblos ecosystem. Built FOR the people, BY the people: The first decentralized social network based on blockchain technology and the principles of Swiss democracy. Viblos is designed to give the power back to the people: by transforming them from passive commodities on social media sites such as Facebook, Twitter, and Instagram, into active earners in this new economy. Join the new economic ecosystem: Viblos is not just a social network – it’s a personal ecosystem within the global economy that affords all of us the opportunity to get a fair share of the profits. Users can finally say goodbye to ad-supported social networks. Viblos turns every member into a stakeholder and is fully committed to keeping it that way. Blockchain: The Liberating Force: Viblos is built on DAO blockchain technology, which allows for secure, transparent, and tamper-proof transactions between users. This means that all interactions on the network, including voting, content sharing and earning rewards, are logged and verified. New business models for its users: Viblos is a much better alternative than conventional social networks, as it not only provides its users with all of the advantages, but offers them new business models as well. In addition, it doesn’t demonetize, abuse, or invade the privacy of participants. With Viblos, there are several ways in which users can earn income by renting content or staking the tokens to create and share NFTs on the platform. Freedom and zero demonetization: Viblos won’t ever punish creators for having different views, and because the platform is decentralized, every decision related to content will be decided upon democratically. The Viblos ecosystem is simple to use and seeks to remove the complex hindrances that are present in the traditional social media sector. In order to empower and build their enterprises, Viblos further plans to create a common thread and communication channel between celebrities and influencers and their networks. Simply put, Viblos is a go-to platform where all of your wants and goals, whatever they may be, can come true. Our mantra is “one minute is enough; everything is possible within Viblos”. Viblos is a component of both the Internet of Things (IoT) and the Internet of People (IoP). The company is building this platform to help content creators make a decent income by giving their skills and social interactions a certain value. Current social media networks are infrastructure-centric and therefore unable to meet modern society’s demands. The entire concept of cyber-physical convergence is to improve social interactions through an open, transparent, verifiable and secure platform.
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