@EverythingBlockchain

Wondering how to survive and prosper in the bear times? Let's use @NotionalFinance, a fixed-rate borrowing and lending platform on #Eth to make some gains Here are my top 5 strategies🧵👇 If you like this thread, make sure to follow I will be dropping 2 strategies/month https://twitter.com/EverythingB0x/status/1586031976670056448?s=20&t=nPcBFdrnM4b8vmq4Lh4dRA

Olympus V2 Migration - Explained *What started with DeFi grew into DeFi 2.0 and Olympus is the pioneer of this space. And what exactly is DeFi 2.0, EB?*  DeFi 2.0 brought the idea of a protocol owned liquidity so much so, that within months of it, there were numerous forks offering the same. Olympus has already managed to gather a strong community-driven by 3,3 pushing the boundaries and innovations into newer realms and changing the existing paradigms. All this has been done by tweaking rebasing and staking tools that in its entirety are based on the loyalty of its users. Yield farming brought DeFi to the degen farmer and involves users providing liquidity to protocols in turn for farming the protocol tokens. It changed the traditional understanding of lending and borrowing and in no time DeFi took the center stage with more and more liquidity being pumped into it. Olympus did something which no other protocol had done before. It introduced the idea of protocol-owned liquidity and that changed the whole dynamics of DeFi. ***It did to DeFi what DeFi had done to traditional finance.*** The existing problem of DeFi is the farm and dump strategy. Degen farmers get in early farming at high APYs and the moment APYs come down to lesser exciting and more sustainable rates, they remove liquidity and dump the tokens. That is why protocols want to build communities that would want to stay for the long-term growth of the protocol than the exciting short-term high APYs. Olympus focussed on this pain point by working on both the high APYs as well as a community-centric protocol where everyone is a stakeholder of the protocol by bringing in 3,3. More on this through the Olympus docs. https://docs.olympusdao.finance/main/using-etherscan/staking Olympus V2 Migration *The Olympus Gods got together on top of Mount Olympus to offer V2.* This article is focused on Olympus’s V2 migration but before we get there, let’s understand what bonding means. Olympus allows users to trade assets like DAI, wETH, FRAX, or various LP tokens in exchange for OHM. Olympus sells the OHM at a discount through a process called bonding. Instead of buying the tokens through various other protocols, Olympus allows users to buy OHM at a discount. Users can then stake the OHM to participate in governance and earn further rewards through rebases in the value of the OHM token. Olympus V2 migration entails some key upgrades and these are listed below - **On-chain governance** In order for Stakers to achieve full control of the protocol contracts, this would entail a phased rolled-out through the implementation of Compound’s Governor Bravo. This will begin with a guardian multisig, an on-chain governed Treasury, and eventually on-chain governed bonds. gOHM token will replace wsOHM and will be the on-chain governance token. This will allow users to stake directly into/out of gOHM, saving precious time and gas. **Bonds** Bonding is a mechanism for Olympus to acquire its own liquidity. Bonding is a more active investment strategy that has to be monitored constantly in order to be profitable as compared to staking. The V2 migration sees major changes to the bonds. **Bond payouts are staked at the time of purchase.** In order to minimize market pressure and maximize protocol efficiency, bond payouts will be earned by default unlike, where bonders would have to factor in missed rewards when considering a discount. This means that any >0% discount will outperform staking, and as a result, discounts should not deviate far above 0%. **Bonds no longer vest linearly.** Instead, bonders must wait until the end of their term to redeem. This illiquidity is enabled by staking bond payouts and creates a form of locked staking that will save OHMies money by removing the incentive to incur wasteful gas transactions through frequent redemption. **New bond types are created as isolated offerings.** Each bond has a maximum amount of OHM that can be paid or a maximum amount of principal that can be purchased and, once exceeded, the bond is retired. All parameters of the bond are set in stone after initialization. This improves both budgeting and immutability. **Bonds can be held as NFTs.** This enables liquid secondary bond markets. **Bonds can be fixed-term or fixed expiration.** Fixed-term bond is one where the term for a bond is fixed. For a fixed-term bond of 1 week, your maturation date will be in 1 week. Fixed-expiration means the maturation date is the same for all who buy that bond. If a bond has fixed expiration on day 8 and you buy one on day 1, your term is 7 days; if you buy the same bond on day 2, your term is 6 days. This lends itself to composability; fixed-expiration bonds can be wrapped into a fungible token and traded like any ERC20. **Bonds offer a front-end reward.** This will incentivize third parties to run front-ends for Olympus, reducing single-point-of-failure risk. **Migration** Enabling V2 will require migration to a new set of smart contracts. The migration will replace all existing contracts, including the OHM token. Users have up to two months to migrate without missing the rebasing rewards. The entire process associated with the migration has been designed to make it as easy and time-insensitive as possible for the OHM community. Migrating is a single transaction and should not cost much more than staking. Partial liquidity will remain for OHMv1 to facilitate the movement of borrowers. As for the audits, efforts are underway to enter an audit with Runtime Verification for the smart contracts. The audit status is expected to conclude in four weeks’ time. **Socials** Substack https://everythingblockchain.substack.com/account?utm_source=menu-dropdown

An Introduction to Across Protocol "Across protocol is a novel bridging method that combines an optimistic oracle, bonded relayers, and single-sided liquidity pools to provide decentralized instant transactions from Rollup chains to Ethereum Mainnet". **Introduction** Ethereum is undoubtedly the bedrock layer of the crypto verse and a pioneer when it comes to contributing towards the growth and development of the DeFi space. Its success demonstrated by its ability to run dApps powered by smart contracts has led to an unprecedented surge in its demand clogging the network and endangering the economic viability of the projects built on it. Ethereum’s success is also a major deterrent to its growth and scalability. While Ethereum continues to witness growth in terms of users, developers, and other network participants, it also continues to suffer from high transaction fees, slow transaction times, limited processing capacity and reverted transactions.  There have been different solutions to this problem through side-chains and other Layer 2 Solutions. Layer 2 collectively refers to a set of solutions built on top of the Mainnet (Layer 1) designed to address the aforementioned concerns. They help with scalability issues by handling transactions off of Layer 1, inheriting the robust decentralized security model of Mainnet. Ethereum has a number of Layer 2 solutions but for the purpose of this article, let's focus on Rollups. **Rollups** Rolls ups are one of the most promising Layer 2 solutions that execute transactions outside the Mainnet but post the transaction data on it, retaining the security provided by Layer 1. In simpler terms, the tedious task of processing transactions is offloaded to L2 and then the highly compressed transaction data is posted in batches on the Mainnet. Thereby, enabling L1 to handle way more users, actions as well as data than it could possibly accommodate.  So, Rollups provide greater transaction processing capacity, lower gas fees, and faster transaction confirmations whilst retaining Ethereum's security.  Interestingly, the task of moving the data off-chain for processing is done through smart contracts that bundle up or **Rollup** the transaction data. Rolls ups enable computation of data off-chain and submission of highly compressed data to the main chain. To sum up- Execution of transactions is outside the main chain. Proof of transaction or the data is on the main chain and thereby secure. A Rollup or bundled smart contract on the main chain that ensures transaction execution off-chain by using the data on the main chain. There are two types of Rollups: **Zero-knowledge Rollups or Zk Rollups** Generating a validity proof for the whole bundle of transactions by computing off-chain, Zk Rollups through third party operators (sequencers or validators) speed up the validation process on Ethereum by ensuring that the proof submitted to the Mainnet acts as a substitute for all of the transaction data it is associated with. However, a major drawback associated with its use is incompatibility with EVMs (Ethereum Virtual Machine) limiting utility to simple transactions. **Optimistic Rollups** In the case of optimistic rolls up, computations aren't performed by default because they operate with an optimistic assumption of transaction validity i.e, they assume all transactions are valid thereby offering significant improvements in scalability. However, when transaction data is posted back on the main chain, there is a time period wherein anyone can challenge the validity of the data- a mechanism (fraud-proof) to ensure legitimacy and protect against fraudulent transactions. In case of a dispute, the Rollup has to perform the computation to ascertain the validity making transaction confirmations longer on optimistic Rollups compared to Zk Rollups. However, a major plus point is its compatibility with EVMs that widens its use case to full utility of the Ethereum network. Arbitrum and Optimism are two widely recognized L2 solutions utilizing the optimistic Rollup. Although the two solutions are very similar, they differ with respect to the way they generate fraud-proof. In the event of a dispute or challenged transaction in the network, Optimism sends the suspicious transaction in its entirety through the EVM, whereas in Arbitrum’s case only the suspicious part within a transaction is sent to the EVM. To put it simply, in case of discrepancy Optimism executes the entire transaction but Arbitrum resorts to a multi-round approach executing small chunks of the transaction until the fraud is detected. This approach enables Arbitrum to achieve a higher transaction capacity in comparison to Optimism.  Optimistic Rollups address a major operational issue associated with Ethereum and contribute to the widespread adoption of Ethereum by decreasing the load on the network. However, transactions are subject to **challenge for up to a week**. The purpose as stated is to avoid fraud however, this could act as a deterrent for individuals who want an immediate transfer of their assets to the Mainnet. When data is posted back on to the Mainnet from L2, Ethereum cannot immediately confirm the correct state as it must respect the challenge window period. The resulting delay in confirmations affects withdrawals from L2 to L1. Since these L2 solutions cannot undo the withdrawals once they release the funds, the system prohibits withdrawals unless the validity of the transactions is confirmed.   **Across Protocol** What if I told you there was a way to get around the confirmation delays, in fact, I will do you one better and tell you a way to avoid it completely. What do I mean by this? Imagine if someone from L1 itself lends you the money you need (for a fee) until the bridged funds arrive. And this translates into an instant transfer. Across claims to ***"solve the problem by insuring transactions.*** *Individuals can profit by guaranteeing that the person lending the funds on L1 will actually send the loan. It turns out that this method of cross-chain transfer is actually cheaper than other bridge solutions. It is faster, and we believe, more secure."* Understanding how Across does this will require an understanding of UMA's Optimistic Oracle. You can read about it here in my article on UMA or for an in-depth understanding you can click here. https://www.publish0x.com/cyekmyster/uma-universal-market-access-portal-to-financial-freedom-xqmwgyn https://umaproject.org/optimistic-oracle.html **In a gist** Across leverages UMA’s Optimistic Oracle to deliver on its claim of solving the problem by insuring transactions. When a user initiates a transfer it sends the money to L2 via the Canonical Bridge on L1. An insurer comes into play on L1 and pays out the transferred amount (less a fee) immediately. A claim is submitted by the insurer to a liquidity pool on L1 with the intent of becoming whole. *This claim opens the dispute window, with the prompt of “Did the insurer fulfill her obligations and send the money to the recipient on L1?” So long as she did, the claims window will close after 2 hours and the insurer will be reimbursed.* L2 solutions have considerable potential as they contribute to the resourceful utilization of the Ethereum network. Their only drawback is the associated delay at the time of withdrawals and with Across protocol that is no longer a worry as Acros provides a platform for instant and trustless token transfers from L2 to L1 or from Arbitrum to Ethereum. Stay tuned for my next article where I cover the working of **Across Protocol** at length.

Stader Labs — An Interview with the co-founder Amit Gajjala Although the crypto world is still in its nascency, new platforms that provide different services continue to emerge on a daily basis. But in general people tend to opt for portals that consolidate services and make the task of growing their funds simple. *SaaS, Staking-as-a-Service platforms enable crypto investors to stake their stakable PoS digital assets via a third-party service that takes care of the technical aspect of the staking process.* They lower the barriers to entry so that individuals with limited or no technical know-how can participate in the staking economy. Driven by a strategy that focuses on **delegators first**, Stader Labs is designed to offer a convenient and safe way to maximize user returns on staking. By deploying curated vaults of Validators within a specific network’s Validator ecosystem, it assures maximized yields. With all of these offerings bundled into one platform, Stader Labs essentially empowers delegators and provides them with end-to-end stake management. For more details about Stader Labs, check out my earlier article. https://www.publish0x.com/cyekmyster/stader-labs-simplifying-staking-and-unleashing-staking-deriv-xrnpxxw Sid Doddipalli and Amit Gajjala, two active stakers founded Stader Labs on the principle of simplifying staking while offering risk-adjusted returns. The vision of the platform in the words of Amit is “One billion delegators” so that Staking-as-a-Service (SaaS) becomes a principal feature of PoS networks and a vehicle for onboarding more users to the crypto market. In an interview with Amit Gajjala we delve deeper into the inspiration behind StaderLabs’ delegators-first approach, how it is different from other Saas platforms, the current problems associated with staking, future plans of Stader, and much more. The interview with Amit follows below. **Q1. Tell us about yourself? How did you get into this industry and how Stader was born? And could you elaborate on Staders vision of One billion delegators?** Sid and I have known each other for over two decades & over this period have experience in top start-ups across technology, strategy, and scaling businesses. Sid has deep expertise in staking, building and managing mining pool optimizers, while I have held multiple top management positions with several start-ups & been dabbling in the crypto space for a few years. We have seen firsthand how difficult and effort-intensive it was to choose a mining pool and we see the same thing happening in staking. We aspire to make staking effortless while unleashing several innovations on staking. This desire to make Staking mainstream led to us starting Stader Over the next five years staking is expected to grow manifold from where it is today. The crypto world will potentially have hundreds of blockchain networks across L1s, NFTs, Gaming, L2s. PoS and Staking will be the fundamental layer that powers these blockchains. There will be an explosive growth in innovative staking solutions built on top of the PoS chains. The next One Billion retail users & institutions entering crypto would demand access to convenient and innovative staking solutions within the mainstream apps they are buying crypto assets. Stader is building the key staking middleware infrastructure layer for multiple PoS networks that will power the above staking-related opportunities while solving the key challenges. We are taking an extremely modular approach to building our contracts so third parties can leverage our components to build several staking solutions on top of it. **Q2. a. Explain staking with Stader.** Staking with Stader will be effortless & give users access to a world of innovative features. Stader’s smart contracts to be launched in a few weeks have the following capabilities: Users can stake with any group of validators (validator index) in a single transaction. Stader monitors validators’ performance and rebalances across validators for optimal performance. User can deploy staking rewards on any DeFi protocol/ game, claim airdrops in 1-click Ability to issue a liquid staking token (will be launched few weeks after v1 launch) **b. How does it simplify staking and what problem does it resolve?** Stader simplifies staking by addressing the core problems of the key ecosystem stakeholders. Delegators face three major problems Limited awareness of staking-related metrics, such as Uptime. Effort-intensive validator discovery and delegation process. Manual tracking and management of staked assets, rewards and airdrops. Stader also addresses the problems faced by networks wrt centralization of stake & enables mid to long tail validators attract delegations. **Q3. Is there a risk to the tokens being staked? Which risks should users be aware of? Who holds custody?** Stader is completely non-custodial, users have full control of their tokens. The risk of staking with Stader is quite limited vis-a-vis a DeFi protocol as tokens are locked on the validator. We minimise the slashing risks as we select the best quality validators and allocate stake across them. Additionally, we monitor the performance of our pools regularly & optimise to minimise slashing. Stader separates the principal capital & the rewards with different contracts. This ensures that the base capital staked is always isolated from the interactions with other protocols. Stakers can choose various strategies with rewards based on their risk appetite. **Q4. What are you most excited about? From simplifying staking to creating a derivatives market for it, there can be endless possibilities. Can you discuss one such strategy?** We believe there are five major groups of staking products that cater to the majority of the demand Protect principal assets and build an ecosystem around rewards. Decentralized Liquid staking tokens of various types. Leverage staking rewards for entertainment. Staking platforms for institutions. All-in-one staking APIs for exchanges. I am personally most excited for the liquid token as it opens up countless possibilities on top of staked assets: Users can leverage liquid token as collateral on lending protocols, get access to staking rewards and continue to earn airdrops. Users can also benefit from potential LP pool provision on DEXs. **Q5. How is Stader different from other Saas platforms? What’s its added value in comparison with other competitors?** Stader is building a modular platform which allows anyone to use Stader’s pre-existing components to build their own staking solutions. As staking evolves over the next few years, our architecture allows flexibility to grow and incorporate new features day in and day out. Extensibility is woven into Stader’s technical blueprint, with a system of highly-interactive smart contracts. Incorporating a new strategy or pool would just require a few changes in a specific independent contract. Our core added value is that it opens up opportunities for third parties to interact with any of our smart contracts and build additional staking use-cases. **Q6. What led Stader to begin its journey on Terra as opposed to other networks?** Stader started with Terra because of the ecosystem’s focus on staking, bringing mainstream users to blockchain and the speed of development happening on Terra. Terra also has a mature DeFi ecosystem that can be leveraged to build strategies with staking rewards. The Terra team has been very helpful and supportive in the initial product development. We believe Terra will be one of the largest crypto ecosystems and millions of mainstream users will enter crypto via Terra blockchain. **Q7. How does Stader plan on staking across multiple chains?** In the short term, Stader is building native staking smart contracts across multiple chains including Terra, Solana, among others. Over the next two-years Stader aims to integrate with the top 7–10 PoS blockchains. Stader also aims to provide Staking infrastructure for upcoming blockchains, including L2s and side-chains. Upcoming blockchains desire to build their staking infrastructure already optimized for the staker’s experience. Stader can be the go-to provider of staking middleware for newer blockchains. Conversations with upcoming blockchains are ongoing. **Q8. I see a Litepaper is already in the making with social media announcements pointing at Oct end as the launch. So the ultimate question — Wen launch ser?** Stader’s v1 contracts are currently under-going an audit and are expected to receive feedback by end-October. We plan to launch the first version of Stader on Terra mainnet by mid-November (tentative plan as per current estimates). **Q9. A lot of enthusiasts are excited about staking with Stader. Will there be an advance notice for users to unstake their Luna to bring it over to Stader?** Stader’s V1 contracts are currently undergoing extensive testing post audit. Stader V1 will be launched with a community farming event on Nov 20th. We have reserved 6 million SD tokens (4% of the total supply) for community farming. You can find more information about Stader Community farming event on our blog here. https://blog.staderlabs.com/stader-is-launching-on-mainnet-and-its-time-for-you-to-farm-our-sd-tokens-here-s-how-f65f4125ef68 **Q10. Thinking about the future, do you have a roadmap with respect to relevant upgrades or partnerships?** In the short term, we will be launching Stader V2, which will unlock more possibilities for staked assets. We will add multiple ecosystem integrations to power strategies on top of staking rewards and airdrops. Beyond V2, Stader’s expansion will be focused across two dimensions: Additional third-party App integrations and innovations on Terra Launching and integrating other blockchains (Solana, Near, EVM chains, etc.) Stader aims to be present across the top 7–10 PoS blockchains over the next one-two years. In the long term, there are several multi-billion dollar opportunities and markets Stader can explore: Institutional-grade customized staking products. API layer to connect mainstream fintech applications. Staking infrastructure for upcoming blockchains. Investment grade products like staking ETFs built leveraging native Stader vaults. And many more… **Thank you, Amit.** **Note** — Save The Date. Winter is coming and so is Stader. **I need your love and support. Please give it a like or follow or subscribe so that I can keep writing what I love.** **Socials** Substack, Loop, Torum, Odysee, Twitter, Youtube, Read.cash, Publish0x, Presearch, Medium, Noisecash https://everythingblockchain.substack.com/account?utm_source=menu-dropdown https://www.loop.markets/?ref=39055 https://www.torum.com/signup?referral_code=cyekmyster https://odysee.com/$/invite/@Cyekmyster:3 https://twitter.com/cyekmyster https://www.youtube.com/channel/UCkcc6EceEAu1sMoi2dKczCQ https://read.cash/r/Cyekmyster https://www.publish0x.com/?a=QBeXonk5dy https://www.presearch.org/signup?rid=2491437 https://medium.com/@everythingblockchain https://noise.cash/u/Everythingblockchain Crypto Taps Pipeflare, GlobalHive, GetZen for some free crypto https://pipeflare.io/r/9d5x https://globalhive.io/r/148547 https://getzen.cash/auth/register?ref=443574 Exchange on SwapSpace https://swapspace.co/?ref=155495dbc33364ec9a4631bd For price updates, check Coinmarketcap or download the app on Apple/ Google https://coinmarketcap.com/?utm_source=cmckol&utm_medium=multi&utm_campaign=boa417wqp60w https://apps.apple.com/app/coinmarketcap/id1282107098 https://play.google.com/store/apps/details?id=com.coinmarketcap.android Join CMC for Airdrops, Diamonds, Learn&Earn https://coinmarketcap.com/airdrop/?utm_source=cmckol&utm_medium=multi&utm_campaign=boa417wqp60w https://coinmarketcap.com/account/my-diamonds/?utm_source=cmckol&utm_medium=multi&utm_campaign=boa417wqp60w https://coinmarketcap.com/earn/?utm_source=cmckol&utm_medium=multi&utm_campaign=boa417wqp60w On Telegram(G), Telegram(EN), Twitter, Reddit, Instagram, Facebook https://t.me/CoinMarketCap https://t.me/CoinMarketCapEN https://twitter.com/CoinMarketCap https://reddit.com/r/CoinMarketCap https://instagram.com/CoinMarketCap https://facebook.com/CoinMarketCap Create your crypto Watchlist or track your Portfolio on Coinmarketcap https://coinmarketcap.com/watchlist/?utm_source=cmckol&utm_medium=multi&utm_campaign=boa417wqp60w https://coinmarketcap.com/portfolio-tracker/?utm_source=cmckol&utm_medium=multi&utm_campaign=boa417wqp60w

How do you trust a reserve currency that is inflationary where the country prints money at its own whims. People who oppose cryptocurrencies like BCH with a fixed supply are being agnostic, just how the world is to the real causes, to the ones that really matter.

Bitcoin(BTC) or Bitcoin Cash(BCH) (Lead Image Source) https://i.redd.it/orjx1uj2e4301.jpg Let's keep it simple by starting with Satoshi Nakamoto's title of Bitcoin, as used in the white paper. He described it as - https://coinmarketcap.com/alexandria/article/bitcoin-vs-bitcoin-cash-vs-bitcoin-sv `"Bitcoin: A Peer-to-Peer Electronic Cash System"` I am sure there are plenty of articles written about Bitcoin Cash , or other content which points to it. And it all stands to reason given that this platform is a real use case of BCH. So why not? Every writer brings a new insight, something different from the previous one, a new perspective, a new way of explaining. It's a good way to keep adding more quality content on BCH especially for the newbies and for other users who are trying to understand and get their way through this. And as an ode to BCH, I have decided to write one too. I hope it brings some value and clarity in understanding BCH. However, it is understandable to have doubts as we all have different levels of understanding based on our previous knowledge and our diverse backgrounds. Please don't hesitate to hit me up with your questions. I will try my best to explain and don't worry if your question appears stupid to you, we all have learnt our way through asking the exact stupid questions. If you don't know what a blockchain is, and terms like PoW, scalability, block size, hash algorithm all haunt you, then don't fret. Lucky for both of us, we have found each other. I will try explaining in a simplified manner with minimal use of those technical words. And for some of the those complicated terms, I will try to break those down for you in a much basic form for easy understanding. A blockchain is nothing but a ledger, and what is a ledger, a diary of sorts or simply an account book which records all the transactions, incoming and outgoing. You probably wondering, that's way simple. How can it be that? It is exactly that, where transactions are recorded. We are talking of digital transactions, so these are recorded on a data block, and then as you keep adding more and more blocks of data, it forms a chain, and there you have it, a blockchain, or a chain of data blocks. Simple so far. In traditional setup, accountants used to record entries in the physical ledgers. The physical ledger could however, be damaged, stolen, burnt just like other physical records besides other possibilities which would erase all the previous record of transactions (unless you had been smart enough to copy it). Right! So we did have a problem with the conventional system and that's where digital ledgers filled the gap. But soon it was realised that any of the existing public ledgers were but centralised under the control of select few which meant there was no guarantee of it being authentic or free from any sort of interference. That led to distributed ledgers or distributed systems. Internet was what made that possible. Distributed systems are simply, systems with distributed copies over different computers, also called nodes, which make it difficult for the data to be manipulated. For the date to be manipulated, each of the copies needs to be manipulated which is definitely more difficult than manipulating one copy. Now back to Blockchain. Blockchain is, but a ledger, a record of transactions which is distributed and hence called a distributed system. For it to work, the information needs to be same and synchronised all across the distribution points, and it needs a specific order. One cannot spend money that has not been received, nor can one spend money that is already spent. This order is the fundamental requirement which is based on the occurrence of a transaction and every node of the blockchain needs to have the same copy. Even if blockchain was not a ledger and a data log of some sort, it would still need that order and an identical copy of the blockchain. One order mismatch, and it's a different blockchain. So, the importance of the order is paramount. I won't go into the further specifics of it, not in this article at least. Now, If we were dealing with just two or three users involving only a few transactions at once, record keeping would have been so much easier but when it comes to millions and billions of people and transactions, imagine the kind of speed that is needed to execute all of these in given time. **Consider this for an example**, *You walk in to a grocery store and there are twenty people ahead of you at the billing counter. You will have to wait for the cashier to bill those twenty ahead of you before you get your turn. So it has taken you that long to get the transaction initiated. Now, if everyone is paying with the cash vis-a-vis card, you can expect the wait to be even longer. But what if, it was the other way around and paying by card was slower than paying by cash. Do you still think people would use credit card over cash, considering time to be the only factor. I wouldn't for it would mean more time for my transaction. Now, use the same analogy to understand how transactions would happen on Bitcoin. The transaction speed on bitcoin is just 7 transactions per second which means with hundreds of thousands of users, the waiting time will be insanely longer, just like the queue at the counter, only way more.* Would you want that? Would businesses want that? or Would they prefer something like a Visa which can do about 1700 transactions per second (tps) achieving roughly 150 million per day. One of the major constraints for any business to progress is scalability, which means it should be able to deliver the growing demand. For blockchain, it would mean more and faster transactions. If we are to think of blockchain to step into our traditional infrastructure, the speed of executing these transactions has to be faster. Time is always of essence and no one wants to wait, not when it comes to money. Comparing the transactions stats of Visa with that of Bitcoin, which processes about 7 per second, do you understand the problem here. It's like moving back into the time, which isn't going to work for anyone. Waiting for a transaction for several minutes before the confirmation comes in would be ludicrous. Imagine twenty people waiting at the grocery cash counter in El Salvador for their Bitcoin transaction to come through. ***Looks like a long wait to me.*** For the sake of this article, I won't dwell upon decentralisation and security aspect and only focus on the scalability part of it. **Let's go back in time** when BCH and BTC were one. I hope you knew that already. The problem of scalability needed a solution, which could either be achieved by making the data smaller in each block which meant more data in a data block or it could be done by increasing the size of the data block, again more data in a data block. Traditional Bitcoin block size is 1 Mb while that of BCH is 32 MB. So there, you got the answer, and it was second option which was chosen for BCH. Think of it like a river which was flowing downslope until it hit a wall in its path (scalability), the water started flowing towards either sides of the wall disintegrating into two tributaries. That's how bitcoin forked into BTC and BCH. Back to the scalability solution, 2017 was it when it happened. The companies and miners who were the primary stakeholders decided to increase the computing power of bitcoin through a technology called segregated witness, or Segwit. This came as a soft fork, which meant the river was still one and still not divided yet, with some change to the data block. The transactions which are added to the data block in the blockchain need to be verified in order for them to be a part of the blockchain. The solution happened to the first one, where the amount of data which needed verification, was reduced in the block. Basically, the signature data was removed from the data block which translated to lesser data needing verification, and the signature data was attached as an extended block. Signature data was roughly 65 percent of the data processed in each block, so the shift stood a good reason. And that's why the name segregated witness. Cool, right! There was also a subsequent proposal to double the block size which came to be known as Segwit2x. However, that proposal failed and was never implemented. Much around the same time, there were other individuals who believed in Satoshi's Bitcoin than what was to become of Bitcoin. They believed SegWit2x was only a short term solution which would not address the core issue of scalability because at some point, data block size would still be an issue. They also felt that it was a deviation from Satoshi's roadmap. Segwit2x was anything but transparent and was against the core principle of decentralization. So, some miners and developers decided to stand for it and came out a hard fork, known as BCH which had its own specifications. The most important distinction was the side of the block which was increased to 8 MB and later to 32 MB. Thus, unachievable was achieved and a solution was provided with faster transactions, translating to short wait times and low transaction fees. The other side of the story is a bit of a sad one, where the crypto world is yet to see and accept it for what it truly is. A major part of that comes from uninformed users who think of BCH as a copycat of BTC, which is far from truth, anything but better tbh. The market confidence and the adoption is also lower but that stands to reason, given it is much younger compared to BTC. ***Read.cash and Noise.cash are important use cases and drivers for BCH adoption.*** They have created an ecosystem to support BCH. For rest of the crypto community to lean towards BCH and see more of its adoption, education, research and development will go a long way. BCH could have been a perfect contender to El Salvador's crypto adoption, in fact still can as far as the retail is concerned. Countries in Africa and South America which are open to change and crypto adoption can be the perfect drivers for BCH's adoption. Individuals like @RogerVer and @MarcDeMesel are doing the bit, but unless it has support from rest of the community, it won't see that impetus. It means we will have to contribute in ways, by making investments, educating, writing, creating more and interesting content for others to recognise it. If the community grows, BCH grows and we all grow together. ****Final Thoughts**** Bitcoin and BCH can both exist and will exist as separate blockchains adding value to the crypto space. BTC with its limited scalability and higher transaction fees will never find an acceptance as a money moving machine. BCH tick marks that exact spot and is a suitable contender to step up. With some tweaks and changes, it can be a much better alternative than other blockchains which are trying to find a purpose or creating one. BTC can continue to be a store of value just like gold which no one uses (other than jewellery) except for investment. No one goes flashing the gold coins. BCH fits that space quite perfectly. Now back to the Satoshi's white paper, Is Bitcoin still a `Peer-to-Peer Electronic Cash System`, I doubt and not with the existing set up. Is BCH a `Peer-to-Peer Electronic Cash System`, most certainly. Thank you for your time. ****Socials**** **Odysee**  **Twitter** **Youtube**   https://odysee.com/$/invite/@Cyekmyster:3 https://twitter.com/cyekmyster https://www.youtube.com/channel/UCkcc6EceEAu1sMoi2dKczCQ For price updates, check **Coinmarketcap** or download the app on **Apple**/ **Google** https://coinmarketcap.com/portfolio-tracker https://apps.apple.com/app/coinmarketcap/id1282107098 https://play.google.com/store/apps/details?id=com.coinmarketcap.android Join CMC on **Telegram(G)**, **Telegram(EN)**, **Twitter**, **Reddit**, **Instagram**, **Facebook** or subscribe to **newsletter** https://t.me/CoinMarketCap https://t.me/CoinMarketCapEN https://twitter.com/CoinMarketCap https://reddit.com/r/CoinMarketCap https://instagram.com/CoinMarketCap https://facebook.com/CoinMarketCap https://coinmarketcap.com/newsletter My crypto **Watchlist** on **#Coinmarketcap** https://coinmarketcap.com/watchlist/60b476efb5c72c11bbff1d45 https://read.cash/search?q=%23Coinmarketcap

Readcash - Responsibility and Ethical Dilemma What I love about writing is that it develops consciousness just like Yoga. You become more aware of everything about you and around you. Writing helps to extend that consciousness to different spaces and dimensions. You start looking for answers that never appeared to have questions before. You end up looking at old puzzles and your known answers don't fit anymore. The conventional structures don't hold the same ground, logic or reason. This means treading new paths looking to find new answers. I have been on read.cash for less than a week and it has led me to tread one such path and find answers about 'Responsibility & ethical dilemma'. Let's suppose you are in a toxic relationship or you are subjected to unethical behaviour at work, is it your responsibility to take an action. Your inaction makes you a complicit and that leads to an ethical dilemma. Do you get out, report or stay. I am in a sort of ethical dilemma. Everyone knows what responsibility means or at least superficially we understand what it entails. It is a certain sort of duty or obligation which owes its origin to the existence of its expectation. I think I made that too complicated. The reason that got me thinking about it might sound too naive. But at some sort of consciousness, it has helped me question something that I have never thought about, at least not consciously. Before we delve further into it, let me share how I got here. I recently posted my introductory article titled "Being Me" on read.cash and as most writers do, I submitted it in the "Introduce Yourself" community. Fast forward to today, the article still shows pending and yet to be approved by the admin/moderator. **What does it mean?** It means lesser people for my article to reach and in turn lesser impressions. A growing impatience within me because I want people to notice what I have written. I want them to read my story because that is the purpose. First impression is certainly important when you start any relationship. **What have I done?** Between the time I posted the article and today, I reached out to both the admin and the moderator to remind them about my pending article. I waited more than 30 hrs before I dropped the comment. The admin was kind enough to respond back. It's almost 4 days now and I still don't see my article approved. **Are they responsible?** This was the part which got me confused. A part of me thinks, they are, and a part of me doesn't. I don't know which part is right. For all I know, they are busy with their own lives. They can have a thousand different reasons and all justified to not be available. Right! Yes, they could. But they have been online since then. **How do you know that?** I have seen their articles and comments. **Ok, But why should they be responsible? Isn't this their personal community?** Yes, but with a certain purpose which makes them responsible towards other community members. **Even then, aren't you acting impatient? Its only 4 days.** And that is my dilemma. Am I wrong in expecting them to be responsible towards the community they have created? Is my expectation misplaced? And, my ethical dilemma is whether or not, to bring it up. But I did bring it up. It was only then, I realised, it is more than my trivial story. At some level, we are all faced with situations where the responsibilities and dilemmas can get foggy. And what better way than to talk about it. I decided to write about it using my case as only an example to understand the deeper meaning. There are times when it's not easy to see things clearly. Marking that line gets difficult and we can easily find ourselves entangled in spaces where making a certain choice becomes hard. If there is a clear understanding of how we think about certain positions, associating responsibilities might be easy. Read.cash has been life changing for so many people. I have read stories about so much good done to so many lives. It has found a real use case. Before I see the wrath of other users, let me straighten this up beforehand. This is only an example to drive home an understanding. What if this portal, that we all are so proud and part of, decides to shut down unexpectedly. Does it have a moral responsibility of informing us in advance. Does it owe us that? I don't think it owes us anything and yet I saw an article titled, "Download your articles and self-host" from read.cash. This article has been posted a year ago for the eventuality of read.cash going out of business or servers being confiscated. Although, I only wish for it to keep doing well so that it can keep touching lives and promoting BCH and content creation. The intention of this article is to strike something deeper and more conscious. When you take on a certain function, like the admin/moderator, you commit to some degree of responsibility. The role, consequences and the obligations all form part of it. You might not be answerable to me directly but you are to the platform and to the ecosystem. A society, family, or community is only as strong as the people who are part of it. For a community to do well, support system has to be holistic. And that goes for responsibilities too. I feel one of the major reasons for things to be a certain way is lack of accountability. "This is the way it’s done,” or “It's not my responsibility” are some of the common reasons for us to have an acceptance of such behaviour. Over time, we get used to accepting the wrong norms in some capacity.  ****What is an ethical dilemma?**** Let me explain using an example that I read. Let us suppose you are interviewing for a job. You have interviewed at different places and are waiting for the responses. You verbally accept the first offer that comes in which is not due for next two weeks. Shortly after, you get a second offer which is better and perhaps your preferred employer. Since you are yet to start, you face an ethical dilemma. Do you decline the second offer because you have already accepted the first or accept the second offer. Would you live up to your word reflecting honesty and responsibility or take up a more self-interested position. There is nothing wrong accepting the second offer as long as you explain your reasons to the first employer. In many cases, such as this, it’s not so much what your decision is but how you explain it that counts. You have a responsibility to inform the first employer otherwise it is just another selfish act. Our minds, our positions, our choices, all do change over the time but it is important to explain others who are being affected by it. Or, the present state of the world where we are living amongst the pandemic. Do you think health workers face moral dilemma? More than often, there have been situations of disagreement between doctors and patient's family or the patient regarding the type of treatment. Who is to decide what is right? Do you use a Kantian approach or a Utilitarianism approach. Just a food for thought. **What is it they say about power?** With power comes greater responsibility. My intention is not to pinpoint the admin/moderator, for that would be too petty. I only wanted that as an example to drive something more meaningful and deep. A state of sense of responsibility and how to overcome ethical dilemma. It's not easy to make the right choice. It can bring the worst out of the best and the best out of the worst in different situations. Sometimes we don't want to create a negative non cohesive space or at times out of respect or out of choice. We may end up doing the exact same thing when we are caught in such situations ourselves. Doing right is not about the choices around but more about the right choice. No one is saying that would be easy especially if you a moral compass. Hopefully, I should see my post approved at some point in the future or perhaps not after writing this article. Either way I am good with the outcome whichever way that leans. *Thank you for reading. I would really appreciate you commenting your thoughts. It would help me to improve and see things from another perspective.*