TENDERMINT CHAD THREAD

smart projects are switching away from ethereum and building their own tendermint chains, the benefits are:
-faster txn time
-higher amount of txn
-interoperability
-instant finality
-inbuilt governance
-no risk of hard fork
-developer friendly sdk
-chain logic completely customizable
-huge ecosystem

some of the projects building on tendermint right now:
-cosmos
-matic
-ren
-binance dex
-sentinel
-LIBRA
-foam
-loom
-althea
-iris

tendermint chains will be separated in hubs and zones, zones are only connected to hubs, and hubs are connected to other hubs and zones, hubs will have the most traffic passing through

Attached: tendermint HUBS and ZONES.jpg (719x623, 57K)

Other urls found in this thread:

banking.senate.gov/hearings/examining-regulatory-frameworks-for-digital-currencies-and-blockchain
twitter.com/SFWRedditImages

Yes, i'm very bullish about tendermint/cosmos ecosystem, binance building their dex using this tech and facebook libra also

Im very interested in the idea of interoperability in cosmos ecosystem op can you elaborate

cant buy dont care, how do i invest in this

buy tokens in the exchanges?

you mean all the shitcoins op listed?

interoperability will be possible thanks to IBC (inter blockchain communication protocol) and it will allow chain to transfer tokens and data between eachothers.
so you will be able to move eth from ethereum chain to cosmos chain then trade it on binance dex then mix it with sentinel mixer then use it to pay for mapping on foam etc...
tokens are now not limited to their own chains but they can live on other chains, they move between eachothers thanks to hubs, hubs are the biggest blockchains in tendermint ecosystem and will have the most amount of traffic cause zones will have to pass through hubs to move to other hubs or zones on a different hub

>-binance dex

binance dex is bloated to fuck because of tendermint. it's 600gb already. tendermint is shit.

tendermint had a seed round, but it was only for institutional investors andbig VCs, if you want exposure on this tech you can buy some % of each the coins i listed

If you call virtualized ASIC miners a "shitcoin" LMAO

Attached: Staking_tokens.jpg (1057x591, 64K)

schnorr will allow multisig with any amount of singers , thus solving this problem so for example if there are 100 validators on cosmos chain there would be a 100 keys multisig on btc chain thus ensuring as much security as cosmos chain.
it can be also done with custom logic like for example to transfer btc at least 2/3 of the multisig participants must sign, this way it will be more secure.
it can be also done in a POA way where banks important individuals and financial institutions become signers of a multisig, tendermint simply allows btc banks to happen both as a layer 2 scaling solution and as a way to give btc more features.
look at blockstream liquid it works in a federated way were exchanges and other important individuals are part of voting scheme, and i would say its reasonably secure and accept widely in the btc ecosystem, tendermint allows to do the same but with stake on top

yeah the branding is meh, they probably don't care about that cause they will just be a stablecoin issuer, or maybe they will get better marketing budget once their product becomes more used

also if you guys are interested one of the biggest commodities trading hubs in singapore processing billions of trades each year will be settling transactions on a tendermint chain

>look at blockstream liquid it works in a federated way
Never thought I'd see someone talk about liquid as if it's something to emulate. I'll give you schnorr, when is it coming? Still not an ideal solution but better than standard multisig I guess.

trust layers with different security propertys/guarantees built on top of bitcoin are inevitable, so its better to understand them and benefit from this coming trend.
schnorr BIP has been submitted by wuille some months ago so i think we will see it implemented before the end of 2020 probably earlier, they are now in the review and auditing process, it will also have taproot together allowing bitcoin scripts built inside the pubkeys

also keep in mind that there will be more solutions built on top of schnorr that will make the whole interoperability easier like channel factories and statechains

>trust layers with different security propertys/guarantees built on top of bitcoin are inevitable
It didn't have to be this way. It's absolutely possible to have BTC verify sidechains in an almost trustless way. A single opcode to verify SPV proofs. I'll never understand why they don't implement it, it would absolutely rape every altcoin and cement BTC as the root of all trust.

Channel factories are a whole other story and they still don't solve the mass exit problem.

If schnorr sigs are important to you, use BCH. Already implemented there

Attached: 1562406712569.jpg (400x400, 31K)

yeah you are right on the SPV part, but i guess there is nothing we can do about this, blockstream wants to monetize and bottleneck the bitcoin ecosystem so they can benefit from it through liquid, keep in mind that im not against blockstream im just a realist and currently the schnorr multisig solution is the best possible.

get the fuck out of here we are having a discussion between adults

>blockstream wants to monetize and bottleneck the bitcoin ecosystem
>im not against blockstream
Why? They crippled bitcoin so badly.

Half a step up from BSV streetshitters. There's no memepower in forking and screeching about being the REAL bitcoin.

Attached: 1547394240070.png (500x977, 214K)

because for me the most important bitcoin quality is the cap on the supply of coins and the predictable emission rate its literally every austrian economist dream.
also there are some benefits on "crippling" bitcoin this way it creates a niche where third partys and legacy markets institutions can build and integrate, this way they have some skin in the game too and can somwhat benefit from a possible transition, is btc was a "pure" and perfect system no one of the current middlemans would be encouraged to integrate, this way they have only to shift their infrastructure and they can benefit too from the transition from $ bank to btc bank.
non sovereign people will not be able to transact on btc layer one anyway, this gives space for the incumbents to pivot becoming btc custodians and facilitating faster settlement

Fair enough. It's still possible to be pro-bitcoin and anti-blockstream. I don't buy the conspiracies but they're clearly a bad influence.

there is nothing we can do about it, also keep in mind that cryptographers are the rarest breed of workers in the world, so its only normal that there will be a small group of people controlling btc and trying to tax its use, and i frankly think its fair.
kazaria kananites used to tax the trade to the east now they will tax people that wanna access soverign censorship resistant wealth, people that wanna move their capital through borders or people that want an alternative non centralized settlement layer.
if/when we get more cryptographers this problem should be solved

>tax
>soverign censorship resistant wealth
It's not sovereign wealth when it's controlled by a small in-group.

>when we get more cryptographers this problem should be solved
The source of control is not technical know-how, it's controlling the main hubs of communication. Twitter army, plebbit and bitcointalk.

lmao I forgot it's a tendermint thread, won't derail it with more whining

don't care i find this discussion interesting so lets continue

dealing in absolute can create defintion problems, btc in its current blockstream form is surely more sovereign and censorship resistant then any other SOV or MOE in circulation.
a small in group for sure controls btc but they have limited ability to change the core protocol till a certain degree, for example they will never be able to remove the 21m cap.
the loud minoritys that influence the social discourse are for sure part of the armed branch of the same inner group, in fact most louds btc shillers meet in a single chat and plan the narratives for the coming months together but its all an extension of the same blockstream/bitfinex group.
i guess when more players get in the game the whole situation might change, but i also think that we will see an ossification of the btc layer 1 before that happens.
plebs have no power and they are only lead by the current cattle rancher

Attached: cattlerancher.jpg (1325x881, 342K)

>most louds btc shillers meet in a single chat
redpill me

lol there is nothing to say more then that, btc is shilled like any other coin on /biz a small group of people chooses the narrative and pushes it together, the world is small, most people dine at the same table with the same steaks.
loudest btc shills went to school together or are mostly from florida and are kananites

Fug i thought you meant there was a theymos-modded chat I could join with some effort to see what the current narrative is.

lol, that would be fun

anyway i like their work, btc has the strongest intolerant minority that rejects most change.
and has the equivalent of some comandments
21m cap is sacred etc...
the social consensus must only get stronger and stronger and more intolerant for btc to work

Agree. I just wish they'd have gotten ZK-proofs in there before it's too late to change anything. Incredibly versatile and could verify basically anything from sidechains to more exotic L2 stuff. Much superior to gorillion-key multisigs.

yeah but we both know its probably not going to happen

anyway ive been in crypto for a long time, and i think the next big trend after ethereum is tendermint based sidechains, for people that see this early there is going to be lots of opportunitys to make many BTCs

Yeah, the future belongs to those who see opportunities before they become obvious

Binance, Facebook, Sentinel and others will own the future and you fudders will suck their dick lol

tone it down dude, this is a civilized discussion, no need for shilling so blatantly here , smart people will see where the trend is going by themself.
people that won't buy tendermint projects now will just buy higher later

Attached: TENDERMINT.jpg (899x820, 51K)

hahaha well said, buy now or more expensive later

fantastic

Tendermint cosmos ecosystem (:

Bro you dont know. You just read medium articles. You are the labour bitching at the engineer.

Nah.

Do you think we will get a bitcoin backed stablecoin like makerdao ?

While I think tendermint/cosmos will be the basis for a lot of new platforms, I don't think ethereum dapps will go away entirely.

One downside to the tendermint architecture is that each hub needs its own validators. This can make getting new projects off the ground more difficult when compared to a dapp that can use the existing eth validators.

Another piece is being able to use tendermint to wrap assets and push them onto the ETH Blockchain. Existing dexs may be able to use this to avoid a migration. I'm curious to see how easy this interoptibility can get- it may be possible to have the best of both worlds and use cosmos only as an integration layer for small dapps that may not have enough users to get a large validation group.

Still super bullish on cosmos. I just don't think it'll replace eth just yet. It made tradeoffs for the sake of interoptibility, and it may not make sense as a platform for every dapp yet.

If someone created a platform within cosmos for these smaller dapps to live within via some sort of VM that can share validators (sort of like the ETHVM project that appears to be dead- no commits in 7 months) then I think it can become the be all end all.

yeah ethermint has been dead from last december, no commits, but i think once they have finished implementing IBC they will start the development again.
by that time i think tezos will have adopted tendermint consensus and will be part of tendermint ecosystem.
but you can't easily port eth projects to tezos thats a problem.
keep in mind that there is a protocol being developed for shared security/validator set, that would cut down costs significantly.
i still think that eth is pure garbage and we won't get full pos for years, also shards are just a retarded concept.
even if eth 2.0 comes out if its treated as a fresh start it will take forever for current apps to migrate (i.e. existing economic value)
And even then if all "defi" apps and tokens load onto a single shard for speed/cost reasons then we will just have the exact same issues as now...
some dapps are unbuildable on ethereum scalability is a huge problem, thats why they now pivoted to defi cause they can't accomodate the needs of dapps

the easiest solution is ethereum hardspoon, but it will come only after IBC

ah yes good old mimblewimble zksnarks

>crypto dissapears up its own arsehole and dies

isn't it only hubs that have validators? And ethereum would be a zone?

both hubs and zones have validators, there is some work for shared security so that validators are only needed for hubs
crypto endgame is that it becomes so private and compact that you don't even know how much coins you own

ah ok, yeah i dont really see why zones would need their own validators honestly if they could somehow share the security of the hub

Don't forget about SENT
Solid project that will be a part of it.

there are some technical difficulties being solved for that to happen, but you can be sure its being worked on

ok is this another sent pajeet dilated discord funkspiel

do you think that the sentinel hub will be a big hub on the cosmos ecosystem?

sentinel will offer mixing services to the whole tendermint ecosystem, so i think it will play a big role.
kava will be offering a makerdao like stablecoin it will also play a big role

im a tendermint maximalist , cause i think this is going to be the next big trend, any projects building on tendermint is surely ahead of the curve

agreed, I currently have atoms but I'm unsure on whether to buy sent or not, any other hub on tendermint you'd recommend?

just buy everything that has tendetmin, build a tendermint index in your portfolio

Does a transaction on a cosmos zone give a cosmos validator transaction fees? Or would it only give transaction fees to the zone validators?
Think I've read somewhere that all zones go through the hub, so then hub validators would get part of the transaction fee, right?

Bake tezos, validate cosmos and zent hubs.

Life good.

In a perfect world

only when you move tokens from chain to chain the hub gets fees

yeah stake stuff and let money work for you instead of being a 24/7 wagecuck
with cosmos you tax interchain settlement+
with sentinel you tax interchain mixing
with kava you tax interchain stablecoin use
with tezos you tax secure smart contracts use

Ohhh boi, the differences between capital and labour markets.

Baking and branding lol.

Branding is more Johnny wayne

try to explain the difference between capital and labour markets to /biz and they will call you pajeet

Sucks to be labour is all i know.

Even the doctor is just a hand.

ok so that would include moving them from zone to zone?

yeah zones are not connected directly you have to pass through hub

Not going to lie, I don't know much about the technical aspects in crypto. I make my bank on the idea that everyone else convinces themselves they are an engineer, and thinks they understand the technical aspects. Ya kno. follow the Luddite wave of thought.

letting capital work for you is not something easy, most kids on biz think they will get rich and not loose their money, they are just lucky the bubble is working for them, but once it burst (altcoins) only the smart ones will know how to not loose money

i follow cartels that form around specific ideas, like the paypal mafia.
a nice mafia is being formed around cosmos and tendermint projects

The only coins that will survive the bust are ones that propagate nodes to state and private actors. Which is already done. The regulatory arbitrage part. Thats why facebook is now saying, we don't know how long it will take to launch Libra. All this is proving is that you can not launch such a system with out attempting to propagate the node and system in a non corporate way. You have to LARP as open source. Well there are already dozens of projects well ahead, backed by the same capital partners who made Facebook a "thing". Spend 5 years getting permitted by the state dept, or just LARP as open source and meme?

agree, capital cartels move the markets. The plebs call this "market manipulation" but don't realize that majority stake owner ship of the market by a capital cartel is an artifact of the market, not manipulation. The wealthy own it all, the oil, the forest, the farms, the bonds, the equities, and the bitcoin.

The last THING you want is an asset that has even GINI / distribution into poor/ low class markets. The communist , the poor, the plebs, are never going to have the velocity to move the float. The wealthy move the float, they are the moon that causes the tide to move. There is giant misconception that you want a float that is evenly distributed to a bunch of poor low IQ retards who don't know how to work the markets in their favor.

most open source devs are just state agenst anyway, and if you go around the open source repos you will start to notice always the same actors on the most important projects, getting permissions on a repo is the new infiltration game of the last 20 years.

don't forget the water, water will be one of the most profitables longs you can take in the coming years

yeah BTC was never born to bring equality, it was just built to tax the inflationary money printing system.
for btc to become global reserve only the top 1% must adopt it, the 99% will only follow, people that care about txn speeds on btc main layer don't understand that big capital wants a later that only they can use, bct layer 1 was never meant for poor people.

They have to be, to many state actors and Private transnational corporations which support nation state security have critical path systems built on these open source repos. Securing them with the right culture, and labor is a national security task.

Equality is for faggots who will never spread their gene pool and die with HIV. Yea BTC is a guild, the guild is owned by the stake holders of the network, and the guild taxes inflation/ deflationary stance between large capital markets and nation states. Bitcoin is a DAO, and it gets to survive as one, because it does not state that it is a DAO.

Why should the plebs have the right to freedom of capital movement? The plebs can barley stay out of debt, and maintain healthy diets. Only the top of the capital pool need such a system. Because the more capital you have, the more nation state, class, and private actor bias you have against you. The poor hate you, the state wants to tax you, and other private actors who compete want to lay waste. Being able to move 20m dollars from two nation states, with out censorship for 6 dollar transaction fee. Is just mind blowing.

thats a very good analysis and i agree 100%
the more efficient crypto projects move and act as DAOs, were every single individual take responsability upon itself and pursues individual action to make the whole and himself richer more powerfull more stable or whatever the stated goal of the dao is

You watching this hearing user?

people still live with the clas warfare mentality where the rich oppress the porr like in the finest marxist tale, while its the exact opposite the system is rigged against capital accumulation and its made for capital extraction that benefits the bottom of the pyramid at the expense of the top

You know how much wealth bitcoin would have kept in the hands of the bourgeoisie during WWI and WWII? ALL OF IT. Their would have never been any change in wealth. The bourgeoisie would have been able to sink all their assets into the Bitcoin, move it cross border, and than begin to diversify the wealth once in a safer haven.

yeah dude yesterday hearing was good

banking.senate.gov/hearings/examining-regulatory-frameworks-for-digital-currencies-and-blockchain

This is why the Jews love Bitcoin, and many other minority ethnic groups.

The bro to bro communism cash coin fairy tale is sick. Yep, just check out who gets to have kids. The low iq family on welfare, the educated family, who works a combined 80-100 hours a week, has more wealth, does not get to have kids. The state takes capital, and than subsides the lower class to out breed the higher class. This is Marxism 101. Do you short or long genocide? The technique has just been refined. You long genocide over Longer periods.... Marxism did the same. Killed all the productive and intelligent members of society and than subsided the lower iq.

imagine how different the world would be now if that happened, no more usa syphoning away all the wealth and the best minds after having destroyed european industry ww2 was a plot for usa to dominate industrial production and take it away from eu inbetween the other thing ,bankers from usa funded both sides