Category Archives: Altcoins

Interview with Belacoin Ambia Fund

small belacoin logoBitcoinDood – Hello, and thanks for taking the time to do this interview. Could you take a moment and introduce yourself, and tell the readers a little about who you are and your relationship to the BelaCoin project?

Ambia Fund – We are the Ambia Fund, a private cryptocurrency investment group. Our intention is to seek out early-stage cryptocurrencies and cryptocurrency-related projects that have strong potential and could go much further with some professional funding and guidance. BelaCoin has been our inaugural investment, and since we have yet to find a lead developer, we have had to take a strong hands-on approach in leading BelaCoin.

Our focus is to build up BelaCoin well so that it fits into our own cryptocurrency project: BelaCam. While we do not own the BelaCoin blockchain, BelaCam is a privately owned cryptocurrency startup. As with traditional venture capital, we can have a successful exit if BelaCam gets acquired by a large tech player or in the unlikely but possible event of a BelaCam IPO. We own 100% of the equity of BelaCam, so that is where our investment is likely to provide returns.

BelaCam relies heavily on BelaCoin, so for us to have success in BelaCam, we must first bring BelaCoin to the level of a successful cryptocurrency. The more valuable that BelaCoin is, the more valuable BelaCam is as well. This is important because this creates our incentive to act in the best interest of BelaCoin. If BelaCam gets acquired by Alphabet, Facebook, Microsoft, or some other tech company, then BelaCoin’s success will then be in their best interest and control. This is where we would step aside and let the tech powerhouse continue to lead and advise BelaCoin.

BitcoinDood – If I’m not mistaken, this project has been around for a little while. Originally started back in 2014 as Bellacoin with two L’s, I remember researching it a bit, and then for whatever reason it just dropped below my radar. I always thought it looked like an interesting project though. Could you tell us a little about what’s been happening with this project, and the sequence of events that have happened since 2014, leading to the present day and the current development of BelaCoin?

Ambia Fund – The original Bellacoin was started by Kris Borodiansky as a charity coin. He had difficulty getting traction, but he built an awesome altcoin wallet for Bellacoin that was one of the most advanced of the time. The coin was taken over from him as he fell into the background, and it ended up in the hands of a user named @androidcryptogames, the man behind Bellachess. We saw an active community and strong potential for Bellacoin, so we reached out to both Kris and @Androidcryptogames before we took the lead of BelaCoin.

We have repeatedly tried to get Kris to rejoin the coin that was once his, but he is happy letting it go. He’s currently doing impressive and admirable things with Neoscoin, although we have let him know that he is still welcome back on the BelaCoin project. Bellachess is still a running and independent project as well.

With the approval of both people above, we have revived BelaCoin. First, we changed the name from Bellacoin to BelaCoin and gave it a new logo. Then, we assembled an advisory team that will help guide our lead developer, whenever we find one. The wallets that Kris coded were no longer working on newer computers, so we sourced help to fix that. The BelaCoin community has grown incredibly fast and strong as well. The 210+ members of our slack (join here: http://BelaCoin .herokuapp.com) are active and insightful supporters. With the http://BelaCoin.org/invest initiative launch and our white paper release in late December/early January, we will be almost done with our work on BelaCoin and ready to pivot our focus towards finishing BelaCam.

BitcoinDood – Researching this project I came across your BellaChess app and I have to say I absolutely love it. Ironically, I was looking for a decent chess app . The Dood is an average player at best and I was looking for an app with different skill levels. That’s exactly what BellaChess provided and I even earn a fraction of BelaCoin for each game played. For any chess players out there, I highly recommend this app, its really cool.

Now it looks like the next app to be developed is BelaCam, which will be an Instagram type app offering BelaCoin rewards for users. Could you talk a little about BelaCam, what it is, and what users can expect from the app? Also, please explain a little about the BelaCoin rewards for using the apps and how BelaCoin ties into the app platforms.

Ambia Fund – In BelaCam, users post photos and receive BelaCoin each time that their photo is ‘liked’ by someone else. The amount will be determined by the donor in the form of a micropayment of BelaCoin. BelaCam is an indirect competitor of Steemit; whereas users in Steemit reward writings and blog posts, BelaCam users reward photo posters in a similar manner. As we discuss in a later question, it is perhaps a more direct competitor to less-established Yours Network and Synero.

While blockchain social media platforms like Steemit have shied away from the idea of micropayments with the belief that they simply cannot obtain the participants, The Ambia Fund operates with a much different mentality. We understand that nearly all ideas are deemed impossible before someone shows them that they can and will happen. This is the same situation for micropayments.

Additionally, as noted in the question, the BelaCam platform is inspired by Instagram. We are targeting only visual media such as pictures and brief videos. This focus is part of one of the huge appeals of BelaCam: simplicity. It is also the huge factor that will propel BelaCam above other styles of blockchain social media. Users will be confronted with a familiar interface and a very straightforward method of both rewarding and being rewarded for the content they share. Ideally, it will feel just as passive and natural to scroll through one’s feed rewarding miniscule amounts of BelaCoin to other users as it would clicking “like” on their pictures. The reliance on micropayments eliminates the need for complex crowd-voting systems such as those used on Steemit, sometimes confusing and deterring users from participating.

With this being said, BelaCam is designed to be the simplest style of all the blockchain social media platforms to-date. By utilizing a proven and attractive model, we doubt we will encounter much trouble reaching success.

BitcoinDood – According to your website it looks like BelaCoin is currently being ran by an advisory board of some well known names in the cryptocurrency and altcoin trading space. Tell us a little about the advisory board and what each member brings to the table?

Ambia Fund – The Board of Advisors was sourced to guide whomever the lead developer will be. The current members of the Board of Advisors are @Notsofast, @Dum, and Trevon James. They all possess unique talents and experiences so that the lead developer will be able to draw from a diverse field of advice.

@Notsofast has great trading and investing insight that he has gained over years of experience. @Dum created a cryptocurrency radio show, so he has had in-depth looks into other altcoins. With all this, he has learned a lot about what makes a great cryptocurrency. Trevon James is quite experienced with social media, possessing over 20,000 followers on Twitter and receiving over 100,000 YouTube impressions each month. He knows a lot about gaining exposure and getting social media traction, so his guidance in those areas will be helpful to the incoming developer.

BitcoinDood – According to the website the project is being backed by the AMBIA Fund. What exactly is the AMBIA Fund and how does it tie into the BelaCoin project?

Ambia Fund – The Ambia Fund is a private investment group that funds early-stage cryptocurrency projects with real potential. Our activities are similar to those of venture capitalists, except we take a more involved approach. When there is a hole in the BelaCoin project, we fill it. If we do not have the skills to solve something, we source the best people who can. That’s how we redesigned BelaCoin’s logo, gave BelaCoin a top-tier website, and fixed the Windows and Mac wallets.

For our BelaCam startup, we needed a cryptocurrency that we could mold to fit our project perfectly. The past 6 weeks have been spent making BelaCoin strong and well-rounded so that it serves BelaCam. The side effect of this is that now BelaCoin is now a great, newly-updated cryptocurrency, ready for further development and expansion.

BitcoinDood – The BelaCoin website currently states that you’re looking for a lead dev for the project. For anyone that might be interested in this position, what is your team looking for, what will be expected of the dev, and how can eligible parties contact you to apply?

Ambia Fund – We need someone who can take on a strong leadership role to maintain BelaCoin while we focus our resources on finishing BelaCam. The lead dev must be able to assume a non-anonymous role and should have relevant experience working with other coins. The developer will be tasked with leading BelaCoin forward, updating the BelaCoin code, and maintaining the wallets. We need someone who will be as passionate about BelaCoin as we have been.

We do not necessarily want a developer who will work for us; rather, we need someone who will work with us. The developer will be the face and leader of BelaCoin with the responsibility of making executive decisions. To put it frankly, it needs its very own Vitalik Buterin.

If you think you can fit the role, please email us at mail@ambiafund .com. If you pass our vetting, we will nominate you as the lead developer. Then, the BelaCoin community (over 210 in our Slack channel) will collectively decide whether to confirm or deny the appointment.

BitcoinDood – BelaCam looks like it’s going to be the crowning jewel of this project. Do you guys currently have a road map in place? What can altcoin investors considering this coin expect as far as development and a BETA release of the app?

Ambia Fund – Our users can expect a roadmap for the BelaCam project to be released in the first few weeks of 2017. Early testing of the platform will commence around that time, with beta versions being released shortly after. We have the site pretty much made; all that’s left is to do design work and add the BelaCoin user transfer functionality.

BitcoinDood – I was pretty impressed with this project as I researched it. Both the apps and coin look like some really interesting tech. Do you have anything you would like to add that hasn’t been covered in the previous questions? Any special features or exciting news you want to share?

Ambia Fund – The Ambia Fund, specifically through the BelaCoin project, is asserting itself as a constructive and positive force in the cryptocurrency world that will better the knowledge and power of widespread groups of users. We are introducing several initiatives that will help to kickstart this facet of our campaign.

The first of these projects is the BelaCoin Invest Initiative, launched on December 21st. We are giving $500 to three separate entrepreneurs with business ideas that integrate BelaCoin. This should draw some of the best minds in the cryptocurrency community to the BelaCoin blockchain and create an additional 3 businesses or services that use BelaCoin.

Additionally, we will be discussing further scholarship programs for students and grants for other deserving individuals. The BelaCoin Invest Initiative is the main campaign to close out 2016, but we plan to announce further grants in early-mid 2017, coinciding with BelaCam news releases.

BitcoinDood – It looks like 2017 is already gearing up to be a very “disruptive” year for social networking and social media platforms. We’ve seen the well received introduction of the Steemit project in 2016. Synereo seems to be off to a rocky start, but looks like it could be an interesting project in 2017. I believe Yours Network is planning some type of release in 2017 as well. With the release of BelaCam we will also have an instagram equivalent for the cryptocurrency space. Do you have any thoughts on how these cryptocurrency incentive platforms are going to shape the future of social networking and social media? Do you think this will be extremely disruptive tech to platforms like Instagram and Facebook when users realize they will be able to get paid for their content?

Ambia Fund – Social media and other online services change the way we communicate more and more everyday. Before we know it, we will find ourselves in a world absent of things like digital cable and newspapers that used to deliver information from source to sink. The trend that humans exchange more information

regarding news, entertainment, etc. over social media as opposed to TV or press is growing at a burgeoning rate. Coupled with the expansion of hot sectors like subscription based streaming services, old methods of information exchange are beginning to fade.

Each day that humans spend more time scrolling through Twitter, Facebook, and other networks in search of useful information, the power of this new form of information exchange is solidified. Whether they know it or not, humans are engaging more frequently in “peer-to-peer” systems than ever before. Humans care more about the opinions and approval of their coworkers, family, and other random peers than those of news sources in some cases, leading to a new hierarchy of information exchange. This decentralization of information, from news sources and authorities to the users themselves, goes hand-in-hand with the overall principles of the cryptocurrency movement. This changing mentality is a principle that will allow BelaCam to succeed.

The next inevitable facet of this decentralization trend is providing a way for the new leaders of information, such as the influential mass-followed users of social media, to be monetarily rewarded for their services. This has been the mission of most blockchain social media so far because the work that content creators do is a part-time or full-time creative occupation worthy of monetized rewards. Depending on the specificity of their subjects and their popularity, their outreach can span across the world and into the minds and hearts of millions of people. Millions of users, following a wide variety of content creators from all subjects are have the potential to participate in the micropayment system that BelaCam will employ. The BelaCam project will be able to connect these leaders to their followers, empowering both parties to fully engage in interaction and information exchange that will encourage an ever-growing, self-sustaining social economy. The principle notion is that popular and productive content creators deserve to be paid for their content, and we are strong believers that their followers will reward simple, streamlined micropayments to encourage their favorite creators to continue to create.

Regarding our relation to other social blockchain platforms, paradoxically, we are all working together through competition. Cryptocurrencies are a collaborative community above all else, however it is natural that the best systems survive this formative period and carry forward our growth. Active projects such as the Yours Network, Synero, and other lesser known projects like alexandria.io from FlorinCoin all have their benefits and promised features that could form popular platforms. However, one thing is certain that differentiates us from most of their operations: we are not seeking a holistic social media platform (text, music, pictures, etc.). Also, with regards to Steemit specifically, we likely do not envision ourselves directly competing with their already established and commendable project. Although they do feature some photos shared on the site, they are integrated within text-based blog posts. This being said, we are likely to compete more with holistic platforms like Yours or Synero as BelaCam provides a simpler way to be rewarded by sharing creative content.

As far as being disruptive to Facebook or Instagram, this is the full intention. The incentive to get many likes on Instagram is mainly driven by a human’s desire to feel important. At BelaCam, users can get that same desire satisfied while also earning money. It’s simple: BelaCam can reward users more than Instagram and Facebook can. Although we understand that personnel at these giant companies are certainly aware of cryptos, it is intriguing that they have not been more interested in incorporating a system like ours. Regardless, BelaCam will prove show the effectiveness of a monetarily incentivized photo sharing platform.

BitcoinDood – Thank you so much for taking the time to answer these questions. I end every interview with the same last question. Could you share any thoughts, predictions, or probabilities of where you see cryptocurrency in general heading in the future?

Ambia Fund – For The Ambia Fund, the idea of cryptocurrency is much larger than BelaCam, social media, or even online payments. It is a true economic revolution that transcends the boundaries of politics and nationality, despite being relatively young. Whether you are a libertarian supporting the movement to combat big government, or an immigrant who needs desperately to send money back home, cryptocurrencies are for you. Their ability to unite is largely what makes them so beautiful.

The development of Bitcoin and its integration into society can be viewed as commendable a collaborative feat as the completion of the Human Genome Project, or the construction of the Internet itself. In less than a decade of existence, Bitcoin and cryptos have undergone extensive tests of trials and tribulations that nearly suppressed the idea permanently. However, thanks to the resilience of the human ingenuity, we have continued to push for a better system and a better world. This undying spirit to enlighten others, to show them that there is a better way to do finance and furthermore, a better way to live life, will allow cryptocurrencies to find their own large niche in the world.

By first entering the small niche of cryptocurrencies for social media, we are simply playing our small role in the overall transition to decentralized payments and information. We have surveyed the emerging market of cryptos and observed a gaping hole for this specific industry. Bigger groups like Decentral and developers of other niche projects like Syscoin are all doing their own parts to help mankind accept cryptocurrencies in a variety of ways. After all, it will take the entire community to further propel cryptocurrencies into mainstream tech and finance.

With this being said, we have designed The Ambia Fund and its subordinate projects to be pioneers in this inevitable transition into the future. We are the most adamant believers in what cryptos can do for all of humanity. Through our projects, we are recruiting others to also believe in us and the movement. Our group is doing all we can to help cryptocurrencies create a modern, united world in which humans are truly free to use their money, talent, and knowledge.

BitcoinDood – Thanks so much for taking the time out of your busy schedule to do this interview. The Dood really appreciates your time and wishes you and the entire BelaCoin team the best of luck on this project and all your future endeavors. Thanks for sharing the BelaCoin story with me and my readers.

To find out more about the Ambia Fund and Belacoin, you can follow these links.

http://www.belacoin.org/
http://coinmarketcap.com/currencies/belacoin/
http://www.ambiafund.com/investments/
http://www.ambiafund.com/Upload/Belacam.pdf <— white paper
https://bitcointalk.org/index.php?topic=1373100.0
https://twitter.com/BelaCoin

It’s Going To Be An OK Christmas!

As many of you know The Dood is a huge fan of OKcash! I was talking with my cousin the other night and she expressed an interest in learning about cryptocurrency. I decided to get her and a couple other relatives started with OKcash this Christmas. It’s a strong coin, has a decent market cap for an alt, and lots of community support. Not to mention an easy to use wallet with support for most OS platforms.

IMO the best way to hand out holiday cryptocurrency would be to hand out paper wallets. However, to insure that the paper wallet had a backup I also backed it up with an image and uploaded it to a USB drive. I then placed the printed out paper wallet, and the USB stick in a gift box and wrapped it for presentation. Here’s what I did.

OKcash Christmas paper wallet

Finished product! Paper wallet printed out, usb stick with jpg image of paper wallet.

First thing go to the OKcash github to create your paper wallet.

https://okcashpro.github.io/okcash.paperwallets/wallets/okxmas2/index.html

There are multiple themes to choose from, I selected one of the Christmas themes.

Now make sure you press the single wallet tab, then click on generate wallet and it will automatically generate the wallet for you and create a couple matching QR codes for the public and private address. Now take a screen shot of the wallet you created and save it in jpg format.

paper wallet screen shot

The paper wallet screen shot that was printed out and saved to USB stick

I should note, that there is a way to create a really cute paper wallet / gift card but using my Firefox browser I just couldn’t get it to print large enough. I have no idea what I was doing wrong, whether it was my printer or the browser but it just wasn’t working for me. However, taking the screen shot and printing them out almost reminded me of a stock certificate and it looked really cute with the Xmas theme. So I took the screen shot, cropped the image in Gimp however any image editing software would do, printed it out and then loaded the image onto a USB stick for a backup.

Now if you have a phone wallet, that you’ll use to load the wallets, just scan the public qr code on the printout and transfer the OKcash. Send a small amount first, then go to the blockchain and make sure it accepted it and everything is working good.

https://chainz.cryptoid.info/ok/

Wait a couple minutes then type in either the transaction ID or the public wallet address to make sure the wallet is loading properly.

If you’re going to scan it off your computer you can scan the public QR code with your webcam using Webqr https://webqr.com/

Once you complete a small test transaction, load the wallets with the desired amounts.

Find your wallet in the block and verify the funds are in the wallet.
https://chainz.cryptoid.info/ok/address.dws?PSQjXjDbmjhGPEnkFmw1dNUnFS1u8dWVfd.htm

If anyone is quick enough, there’s 9 OKcash for the grabbing. Not a lot but I wanted to show a test transfer for loading the wallet.

Once the paper wallet is loaded, place in box with USB drive, wrap and give for Xmas.

What a fun way to introduce friends and family to cryptocurrency. You can do this with any cryptocurrency that offers a paper wallet. The process is pretty much the same. Thanks for reading, happy holidays, and wishing you all a prosperous New Year!

It's going to be an OK Christmas

The Dood wishes you all a happy holiday and prosperous new year!

 

Here’s a video from OKcashHelp showing you how to do it.

Don’t forget to check out the OKcash forum, when you get a chance.

OKcash forum paper wallet help
Here’s a complete list of OKcash tutorials.

To find out more about OKcash check out my interview with OKtoshi lead dev of OKcash.

Special thanks to @shbour_ for the video tutorial. Stop by his twitter page and show him some love!

 

Interview With PoSW coin.

PoSWallet logoRecently I spoke with the lead dev of PoSWallet.com and we talked a little about his new project PoSW coin and of course the latest upadtes on what’s happening with PoSWallet.com

Disclaimer: The Dood loves this project and does hold a small amount of PoSW coin. Nothing in this post or blog should be taken as financial advice, seek a duly licensed financial adviser for financial advice, not some guy on the internet who refers to himself as The Dood.   It should also be noted that the link at the bottom of the page is a referral link. You can read my first interview with PoSWallet.com talking about the group staking wallet here.

BitcoinDood – Thanks so much for taking the time out of your busy schedule for this interview. This is your second time back, and a lot has happened since the last time we spoke. For anyone new to the blog or not familiar with your projects, could you introduce yourself and tell us a little about who you are, and your relationship to POSWallet.com and PoSW coin?

PoSW coin – It has been a minute – I’m glad to be invited back again for another round.  I am the lead dev for PoSWallet.com – we are a group of folks that would rather use crypto than standard cash, but also understand that most everyday-folk have no idea how to compile a wallet etc.  We are connecting crpyptocurrency (specifically PoS altcoins) with the masses.  Furthermore, we try to make sure the website takes all of the user suggestions and implements them into an all-in-one crypto site.

BitcoinDood – So POSWallet seems to be doing great! I put a small portion of my altcoin portfolio in there and I’ve been real happy with the results. It’s so nice checking on all those POS coins and watching them grow every week. POSWallet.com was down for a few days, and I guess you suffered a major DDoS attack from what I read. You then quickly made a bunch of improvements and everything seems to be running great since. Can you talk a little about what happened, and the upgrades you made to the system?

PoSW coin – Glad to hear you are happy with the results!  So we now have over 450k user addresses staking, which is around 10x what we had a few months ago during the last interview.  Growth has been very fast; however, with that have come a few DDoS attacks.  I am not going to get into the specifics, but we made quite a few substantial redundancy improvements to mitigate future DDoS attacks.  We have also greatly improved the website speed/load times and brought nodes online across 3 different continents.

BitcoinDood – Pretty exciting times. The site’s doing great and now you’re working on a new coin project. Could you tell us a little about PoSW coin?

PoSW coin – Of course! The PoSW coin took a lot of energy in terms of figuring out how to make it worthwhile for the users.  We are trying to avoid all the current buzz related to altcoins – the ICO scams, devs disappearing, coins with no intrinsic value, etc.  The PoSW coin has intrinsic value, as it is essentially a share of PoSWallet.com and the profits that it generates.

At the end of every month, we will choose a payout block.  Every address that holds PoSW coins on this block will receive a dividend, directly related to the total profits of PoSWallet.com for that month.  The same amount of PoSW will be burned into a dev burn account to counter the inflation – this will help drive the price of PoSW up and benefit the investors.

We also have big plans for the PoSW coin at PoSWallet.com – it will essentially be the currency of the website.  As we bring more features online (hint hint, an exchange might be coming) users will use PoSW as a currency.

BitcoinDood – According to the ANN the profits from the coin will be used to pay for all the hosting, server, and business costs of POSWallet.com and all extra profits will be returned to PoSW coin holders each month in the form of dividends. I guess by buying into this coin, each coin holder kind of becomes a shareholder in POSWallet.com. Am I right in thinking this, and could you also explain further on how this will work?

PoSW coin – You are exactly right – I jumped the gun a bit in the last response.  Besides using the coin for features that will be coming online soon at PoSWallet.com, the PoSW coin will continue to grow in value as monthly dividends are paid out.  We will take the gross profits from stakes and coin investment, subtract off the cost to run the site and buy a bunch of ramen, then pay out the rest in PoSW to the users!

BitcoinDood – Now along with earning dividends as a coin holder you will also earn 1% staking interest. Could you explain a little more about the staking feature of the coin, and how this will work?

PoSW coin – Initially, we were not going to have any staking rate for the PoSW coin; however, that would have been quite ironic – a coin used at a PoS website that doesn’t use the PoS algorithm.  The staking rate is small (1%), and we like it that way.  We want to control inflation and make sure our investors get the most bang for their buck.

In terms of the actual PoS algorithm – it is similar to the majority of other PoS coins.

BitcoinDood – The PoSW coin wallet will be released around the first of the year for now you can hold your coin on POSWallet.com. Could you tell us a little about the wallet release, and any interesting features the wallet will include?

PoSW coin – So we beat our initial estimates for the source code (yay!) – we are still working on the Windows wallet.  We expect this to be online by the 1st of the year.  We have some cool integration ideas for the wallet in future releases, for now it is just a standard wallet where you can store your PoSW.

BitcoinDood – So back to POSWallet.com. With the funding earned from PoSW coin you’re planning on making some serious improvements and changes to the POSWallet.com platform. I know you may not be able to disclose everything that you’re working on, but I’m sure the readers would love to hear about anything you’re willing to share. What can you tell us about any new features coming to the platform in the future?

PoSW coin – Exchange, exchange, exchange.  This is one of the most frequently asked questions about the site: How do I exchange one coin for another?  Well guess what – we are working hard on this!  There are also a few more features in development (one that I think people will like even more than an exchange) but for now stay tuned!

BitcoinDood – I would consider PoSW coin an ICO offer. I do like the fact that there is actually a working Proof Of Concept with POSWallet.com. You can already see the hard work that’s been put into the project. What else separates PoSW coin from other ICO’s offers out there?

PoSW coin – This is great question – and fundamentally difficult to answer.  At some point, every new coin has an ICO – users have to get coins somehow.  Sometimes they are distributed for free, sometimes purchased, or mined.  The biggest difference between the PoSW launch and most other ICOs is that we did the work before launching the coin – most ICOs ask for money up front then ‘forget’ to deliver.

BitcoinDood – PoSW coin is already available and I imagine the coin will also be available for trading on different exchanges. Have you been in talks with any exchanges yet? If so, can you divulge which ones we may able to trade PoSW coin on and where can people currently buy PoSW coin now?

PoSW coin – We are definitely going to be on exchanges – both Cryptopia and NovaExchange are either listed or in process of listing.  We purchased the YoBit add and have started the Bittrex/Poloniex addcoin process.  We definitely want to get on new exchanges (to help promote them) so if you are the owner of a new exchange, please contact me!

BitcoinDood – The Dood really appreciates you taking the time to answer these questions. Is there anything you would like to add that hasn’t already been covered in this interview? Any new features coming to POSWallet.com or maybe a cool feature of PoSW coin that I may have missed?

PoSW coin – As always, I think you did a great job with the questions.  The team here is working very hard on rolling out new features – besides the exchange, we are going to keep the new stuff under wraps :).

BitcoinDood – So I usually end every interview with the same last question, but seeing this is your second interview with The Dood, let me ask you this. POSWallet.com is growing,the site is running great, and it’s user base continues to grow. If you could look into a crystal ball, what do you think the future of POSWallet.com and PoSW Coin will look like?

PoSW coin – Another tough question – the last question in the 1st interview was easier!  In terms of the future of PoSWallet.com – we are going to continue to thrive.  This was never meant to pay our bills, it is a labor of purpose.  We truly believe that cryptocurrency is the future and we want to be the harbingers of that future.  This ideology was really the driving force behind the PoSW coin – get as many people involved as possible, then pay out the profits to them so they continue to spread the word.

I have always disliked the following phrase, but it seems so applicable in this one instance.  Where will the PoSW coin be in the future? To the moon, of course!  🙂

BitcoinDood – Thank you so much for taking the time out of your busy schedule during your coin launch and answering these questions. The Dood really appreciates your time and all your hard work on both POSWallet.com and PoSW coin. The Dood wishes you and the entire POSWallet team the best of luck on this project and all your future endeavors in 2017. Happy holidays, and happy new year to you and your team!

PoSW coin – Happy holidays to you as well – I am sure we will continue to be in contact!

You can use these links to find out more abouot PoSW coin and PosWallet.com. It should be noted that The Dood holds a small amount of PoSW coin and the below link to PoSWallet.com is a referral link.

https://poswallet.com/login.php?referral=TheDood
https://bitcointalk.org/index.php?topic=1695121.0
https://twitter.com/POSWallet
https://novaexchange.com/market/BTC_POSW/
https://www.cryptopia.co.nz/Exchange/?market=POSW_BTC

OKcash Turns 2 Years Old – Come Join The Celebration.

Many of you know The Dood’s a huge supporter of OKcash. This year marks two years for this wonderful project. Anyone that would like to help promote the OKcash two year anniversary, I’m helping to promote their Thunderclap.

If you sign up, on November 24th a message will be sent in celebration of the OKcash 2 year anniversary. They are also planning tip rains and giveaways. This is a great project, great dev team, and strong coin. Come celebrate OKcash turning 2 years old!

Check out their Thunderclap page for more information. https://www.thunderclap.it/projects/49851-join-okcash-s-2nd-year-party

Update Interview: Stephanie Kent From Krypton KR.

Stephanie Kent Krypton The Dood would like to thank Stephanie Kent founder of the Krypton project for doing a follow up interview and sharing some of the exciting news and developments happening with Krypton KR. Nothing posted in this blog, website or  post should be construed as investment advice. Please seek a duly licensed investment professional for investment advice, not some guy on the internet who refers to himself as “The Dood”. In the spirit of full disclosure The Dood holds a small amount of Krypton KR.

Krypton KR logo

BitcoinDood: Thanks for taking the time to do this interview. This is your second interview with The Dood and a lot has transpired since the last time we talked. I start and end every interview with the same two questions. So for any new readers who may not know who you are, could you introduce yourself again and tell us a little about the Krypton project and your association with it?

Stephanie Kent: Thanks for having me back, Dood. My name is Stephanie Kent, but most people into crypto and digital currencies know me from Twitter as “covertress.”

I’m founding a Blockchain-as-a-Service company, Krypton, Inc. and The KR Foundation to support the open source blockchain, KR.

Krypton, Inc. will specialize in coding distributed applications for business systems and Internet of Things (IoT) devices. KR will be Krypton’s blockchain of choice upon which to run these dApps, but Krypton will also code custom private blockchains, as our customers require.

BD: Since the last time we spoke, Krypton had some issues with a blockchain DDoS attack. Is that correct? Could you tell us a little about what happened?

SK: It’s fitting that we revisit the attack on Krypton now, at the end of October. What a nightmare!

As you know, KR began as a copy, or fork, of Ethereum’s Frontier client.

In May, a severe attack vector was identified within Ethereum code written in Golang but, Ethereum did not provide a solution to fix this and only stated that the chance of being attacked in this way was low.

https://blog.ethereum.org/2016/05/17/security-alert-geth-suffers-from-a-very-low-probable-dos-attack-vector-update-immediately/

A few months later, the first attack on an Ethereum-based blockchain happened.

The main problem with Ethereum is that a copy of its blockchain can be easily manufactured offline. When combining DDoS attacks against valid nodes with enough hashing power to overcome a network, a manufactured chain can be pushed into production as the real chain.

Krypton’s attacker was able to create a duplicate of the end of the KR chain that was 8,000 transactions long. Using it, he was able to reverse a large sell that he did on Bittrex and re-spend the stolen KR again. Krypton was lucky that the amount stolen was only ~24k KR. (Worth about $3,000.) If the attacker had more money to purchase KR in the first place, he could have stolen much much more.

BD: Krypton was an Ethereum based cryptocurrency. There was another Ethereum based coin that had a similar problem, I can’t find the post or remember which coin it was to save my life. At that time everyone thought this was a test run to DDoS some smaller blockchains before hitting Ethereum. Do you think this was a test run for what Ethereum now seems to be dealing with it on close to a regular basis?

SK: Earlier, you were thinking of Shift, which was the first Ethereum-based blockchain to be attacked.

At the time, KR, Expanse, Shift, SOIL, Ethereum and Ethereum Classic were all vulnerable. Now, both Shift and KR have moved away from Ethereum-based blockchains. The rest remain at risk for attack in this way.

It is possible that the attacks on Shift and KR were a test run for attacking Ethereum. Who knows? It is technically possible to attack Ethereum or Ethereum Classic in this way, although it would require a very large mining farm and be very expensive to do.

BD: From what I understand, your team decided to abandon the old POW (proof of work) blockchain and have now started a POS (proof of stake) blockchain. The Dood has a hard time with some of the technical aspects of the various blockchains out there. My understanding is more in the realm of trading. What’s the difference between the old chain and the new chain? Are you still using the Ethereum codebase or have you changed to something different?

SK: As a young network, lacking the hashing power of ETH or ETC, KR was not able to defend Ethereum code against this new type of 51% attack. In order to protect investors and keep KR trading on Bittrex Exchange, Krypton decided to move KR to our new, safer Proof-of-Stake blockchain based on Blackcoin code.

BD: I say it all the time I love POS coins. Nothing could be better than watching your coins grow as they sit in your wallet. Could you tell us a little more about the POS features Krypton now offers?

SK: Proof-of-Stake allows everyone to make more KR, without mining equipment. We have many happy stakers in the Krypton community right now.

Every 64 seconds 0.25 KR are created. Everyone staking shares a turn in line for this handout. If your wallet has more KR in it than Mary’s wallet does, you get to cut in line for another chance at the 0.25 KR before she does.

Just put KR into the new wallet, leave the wallet open and “unlocked for staking” and watch your KR begin to multiply.

BD: Now the last time we talked Krypton was focused on BaaS or Blockchain As A Service. You were kind enough to explain a little about DAO’s, DAC’s and DAPP’s and how they related to Krypton. http://bitcoindood.com/bitcoin-blog/2016/06/14/the-dood-interviews-covertress-from-krypton/  Are these services still the main focus of Krypton? Has the new blockchain changed the direction Krypton is heading in?

SK: KR will remain on this PoS chain until Krypton rewrites a version of the Ethereum-based blockchain code in a more secure language than Golang. We’re looking at C# language and plan during the rewrite to keep all of the distributed technology (D-Tech) functions of Ethereum (dApps, DACs, DAOs, smart contracts.)

Going forward, KR will not be compatible with Ethereum, however. We plan to rewrite KR in a way that makes it similar, yet more secure.

The continued attacks against Ethereum are showing Krypton what not to do.

BD: I have to ask you this. Since the last time we spoke we’ve seen “The DAO” disaster, an Ethereum fork that left us with Ethereum ETH and Ethereum Classic ETC, and now several DDoS attacks on Ethereum ETH. I respect everything Ethereum has accomplished as far as DAPP’s DAO’s DAC’s and the concept of the “world computer” but part of me wonders if they just released to much too soon. How do you feel about everything that has happened? From an insider’s perspective and your team working with that codebase do you have any thoughts on the subject?

SK: After examining the points of failure in the code of The DAO, I personally believe that it was irresponsible of Ethereum (and certainly Slock.it) to release this code for corporate use.

Real people are spending real money to run real businesses atop a code base that is not ready to do this.

Krypton aims to fix this with our rewrite of KR.

BD: I’m happy to report Krypton is back up and running. I know on Bittrex and some of the other exchanges, you guys took a short break and all trades were halted till the blockchain issues were resolved. As far as The Dood is concerned your team did a stellar job in addressing the problem, fixing the issue, and moving forward. Everything appears to be running smoothly now. Is the hardest part over? Do you see things progressing more smoothly from here on out?

SK: Yes, finally!

When the KR swap ends (31-Oct), I’ll have time again to solicit investors to found Krypton Inc and The KR Foundation.

I’m really looking forward to November. To celebrate, I’m giving away 300 KR to one lucky winner on Halloween (see Twitter for details.) https://twitter.com/covertress

BD: What does the future of Krypton currently hold? Can you share any roadmap
plans as far as continued development and new features?

SK: Anyone can keep up with Krypton’s dynamic roadmap on our Trello page: https://trello.com/b/JmmF7y7A/krypton

We have a few surprises planned for development on our new PoS chain but, we’re saving all  the heavy coding work, re-incorporating D-Tech, for the rewrite.

BD: With everything said, I want to add that The Dood’s seen a lot of cryptocurrencies come and go. In the cryptocurrency community, more times than not, we’ve seen dev teams just walk away from projects after a couple minor issues with their blockchain. This wasn’t the case with Krypton. In my humble opinion the best thing that could have come  from all this, is that the Krypton team really showed the entire cryptocurrency community what they were made of. After all this I’m confident we’ll see Krypton being used, and on the exchanges for many years to come. With that said, do you have any final words for the readers? Anything you want to share that wasn’t covered in the interview?

SK: I thought that being the sole founder of a startup was hard until I began by creating the public blockchain, KR.

Now that KR is on a stable, secure chain and I have time again to startup Krypton Inc, I’m discovering the need for competent CIO and CFO co-founders.

In addition to shopping for VC funding, I’ll be headhunting these co-founders at the blockchain conferences I attend.

I already have my ticket for the next Consensus 2017 conference in New York and plan to speak at and attend many more conferences in the coming year.

BD: As always thanks for taking this time to answer my questions and share your story with the readers. The Dood really appreciates your time and I know things must be pretty busy for you guys now. Just reading your forum posts I know how much time you spend promoting Krypton and introducing new people to it. It certainly is an exciting time to be involved in the cryptocurrency field on any level as we all make history. I always end my interviews with the same last question, soooo,  any new predictions or thoughts on where cryptocurrency in general is heading in the future?

SK: The last time I answered this question, I predicted that we will see much more blockchain technology that incorporates the features of smart contracts and distributed applications.

I still believe this though now I’m convinced that these technologies will not be built to last upon Ethereum but, instead, upon the coming, new KR.

BD: Thanks again Stephanie Kent @Covertress for taking the time to answer The Dood’s questions. It’s always a pleasure speaking with you and The Dood always looks forward to your interviews.Wishing you and the entire Krypton team much success in the future!

SK: It’s always my pleasure. Thanks, Dood!

Krypton slack http://slack.krypton.rocks

Bitcointalk https://bitcointalk.org/index.php?topic=1368118.0

Krypton website http://krypton.rocks

CoinMarketCap https://coinmarketcap.com/currencies/krypton/#markets

Please DO NOT trade KR on Yobit Exchange. Yobit has not upgraded to the new PoS KR.