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AMA Recap of CEO and Co-founder of Chromia, Henrik Hjelte in the @binancenigeria Telegram group on 03/05/2020.

Moh (Binance Angel)🇳🇬,
Please join me to welcome, “CHROMIA CEO & Co-founder, Henrik Hjelte” and “ CMO, Serge lubkin”
Oh, before we proceed, kindly introduce yourselves and tell us a bit about your roles at Chromia u/sergelubkin & u/henrik_hjelte.
Henrik Hjelte,
Ok, I’m Henrik, I’m CEO of ChromaWay that crated the Chromia project. My background is a bit mixed: developer for 30+ years (since 80: s), but I studied other things at university (economics, politics, social sciences philosophy). Life is more than computer you know… I worked with FInance/IT then started a web startup and got to know Alex Mizrahi who worked as a developer….
Web startup didn’t fly, but Alex showed me bitcoin. When I finally read the whitepaper I was blown away, and joined Alex colored-coins project, the first open source protocol to issue tokens. in 2013.
So, we started with open-source tokens (that kickstarted the blockchain industry. Then started company together 2014.
That is a long intro, I’ll shut up now… Thanks….
Serge,
I’m Serge, I’m assisting Henrik today and I work with Chromia marketing team as well as on some business development projects
Moh (Binance Angel)🇳🇬, , Question No 1 :
Kindly describe the CHROMIA project and what it aims to achieve?
Henrik Hjelte,
Chromia is a new public blockchain based on the idea of integrating traditional databases, Relational databases with blockchain security. Chromia is a general purpose blockchain with full smart contract capabilities, just that it is a lot easier to code, even complex applications. You code with an easy to learn new programming language that combines the power of SQL and normal languages but makes it secure in a blockchain context. Up to 1/10 the code-lines vs other blockchains. There is a blog post about it, I’ll share later. On lines of code.
The aim of Chromia is to combine relational databases, which exist in every kind of organization, together using blockchains. We want to provide a platform for our users to develop totally decentralized apps securely. Our goal is for Chromia to be seen as the number one infrastructure for decentralized applications.
https://blog.chromia.com/reasons-for-rell-compactness/
Moh (Binance Angel)🇳🇬,Question No 2:
What inspired the CHROMIA Core team to pick interest in CHROMIA project? what breakthrough have you achieved so far? what are the present challenges you’re facing and how are you planning to overcome them?
Henrik Hjelte,
We started with public blockchains, tokens in 2012, the world’s first stable coin with a bank 2015 (LHV). When coding that solution, peer to peer payments of Euro-tokens, we discovered we need performance reasons to store all data in a database. We needed to quickly know the “balance” of a user, and can’t loop through a blockchain. And slowly the idea grew that we can make the database INTO a blockchain, integrate completely with the transaction mechanism of a database. So, we did it as a private blockchain first (Postchain), used it for some projects, then came up with the idea to make a Public Blockchain based on it.
The motivation is that we felt we needed a better programming model for blockchains. Our CTO Alex has always been thinking of optimal solutions for blockchain technology and has lots of experiences thinking about it. Also: make real-world useful things. For example, we support free-to-play models since users do not need to own “our” token to USE apps, the application itself (often the developer) pays for hosting. And of course, great performance. Also: more knowledge of who runs nodes and risk level. So, it is more suitable for enterprises.
In Chromia the application (at the start the developer) decides Who should be allowed to run its own blockchain (every dapp has its own blockchain). You can also say on a higher level that we want to provide technology to create “Public applications”, a tool
that enables us to create a fairer world.
https://blog.chromia.com/towards-publicly-hosted-applications/
Moh (Binance Angel)🇳🇬, Question No 3 :
Why did you create your own blockchain instead of leveraging on existing and proven base layer protocol?
Henrik Hjelte,
None of the existing protocols are suitable to support large-scale, mainstream applications. We designed Chromia to give our users exactly what they want; fast support, useful features, with an affordable service cost. Other platforms do not have the ability to host data applications in a decentralized and secure way, as Chromia can. Chromia also has its own bespoke programming language that sets it apart from SQL-based platforms. It’s so easy to use, even non-developers can understand it!
The other big difference with Chromia concerns payments. Chromia gives its users freedom from having to pay for each transaction. With Chromia, you have the flexibility to decide how to set fees for your dapp
And when it comes to “proven base layer protocols”: they are just a few years at max. Chromia is built on top of Postgresql, that has been used in enterprises for decades, a really proven technology. And the Java virtual machine on top of that. This is proven tech, at core.
Moh (Binance Angel)🇳🇬, Question No 4 :
What is Postchain?
Henrik Hjelte,
Postchain is an open-source product of ChromaWay for enterprise clients and it’s the core technology on which Chromia is built.
Postchain is a replicated blockchain and database that offers highly resilient distributed database management with distributed control.
Postchain is the only product on the market that combines the immutable consensus of a blockchain and the properties of a real database management system (You know, the tech that built SAP, Facebook, Banks…) …
Postchain allows you to share information between companies and/or individuals in a secure and transparent way.
That is the low-level base of Chromia you can say
Moh (Binance Angel)🇳🇬,
Can you please name some of your clients that are using this service already?
Serge,
You mean products built on Postchain? Also, Stockholm Green Digital Finance, Green Assets Wallet that’s now functioning on Chromia Bootstrap Mainnet.
Big financial institutions
It’s only a beginning of course, but very promising one. https://greenassetswallet.org/news/2019/12/12/launch-of-the-green-assets-wallet
Henrik Hjelte,
We got a lot of attention with the Swedish Land registry; we did a joint project between them and banks and a telco etc on postchain as base.
Then, right now we do a large project with the Inter-American Development bank also about land-registration (processes) in South America.
We had a client, Stockholm Green Digital Finance, that did a system for green bonds (tracking environmental impact. Yes, as Sege says, it was later moved to Chromia…
Which is cool. Also, another external development company did that phase of the project, proving that other can build on our tech,4irelabs from Ukraine is their name. Some companies using the GAW: Blackrock. SEB Bank etc…
Also, we have done more projects, in Australia, asia etc. Oh Daimler too (the Mercedes company) …
Moh (Binance Angel)🇳🇬,
Lots of enterprise clients you’ve got. No wonder I do see the meme “CHR=ETH KILLER”
Serge,
It’s a meme from our supporters. But we believe we can coexist:)
For some niche things eth is good :)
So, no killing :D
Henrik Hjelte,
We want to work with partners too for this, we can’t do all projects ourselves. Also, for Chromia projects, ChromaWay company can help do support maintenance etc. So, it is not competing, it adds value to the ecosystem.
Yeah ETH is good too, for some applications. We are friends with them from colored-coin times.
And colored-coins inspired ETH, and ETH inspires us.
Moh (Binance Angel)🇳🇬, Question No 5 :
Lastly, CHROMIA is already doing very well in terms of business. You just got listed on BINANCE JEX, you are on-boarding new clients and dishing out new features. But what’s next? Is there anything to be excited about?
Henrik Hjelte,
Plans for 2020 are to both release a series of dapps to showcase how fantastic Chromia is, as well as continue to develop the platform. And when it is secure and good enough, we will release the mainnet.
Dapps are now being made by us as well as others. We do a decentralized social network framework called Chromunity, now released to TestNet. It is really cool, users can vote over moderators, and in the future users might even govern the complete application, how it can be updated. This is a great showcase for Chromia and why we use the slogan Power to the Public.
https://testnet.chromunity.com/
Games coming are:
Mines of Dalarnia (by Workinman Interactive). An action game in a mine with blockchain rental of plots and stuff. Already on TestNet and you can take a peek on it at https://www.minesofdalarnia.com
more coming…
Krystopia 2, novas journey. A puzzle game done by Antler Interactive. Could only find trailer though: https://www.youtube.com/watch?v=-G95-Dw3kI4
However, we have even larger ambitions with blockchain gaming…
We are doing A secret demo-project that we do together with Antler to showcase the technical potential of Chromia platform.
Another exciting relase is an indie game Chain of Alliance, done by two external developers. It is a strategy game with full-logic on blockchain. Public release on TestNet on May 22!
More coming in 2020: Other dapps from other companies, one in impact-tech.
That is a serious app, Chromia also works outside gaming and social media for enterprises and startups
And I hope some of you will do something, we want to support dapps on the platform so reach out to us…
Moh (Binance Angel)🇳🇬,
When can we be expecting the mainnet? Any approximate time? I’m sure the community will really excited to have that info
Serge,
It’s now in Bootstap phase, so it’s technically already functioning. MVP will be very soon
Stay tuned;)
Twitter questions Vs answers
Ellkayy,
What’s the unique thing in Chromia that no other blockchain has, that makes you the better option?
Henrik Hjelte,
Unique: Chromia is the only blockchain that also has a real, proper database built-in. And blockchain is about managing data in a shared context. How to best managed data was solved in computer science already. So far, it is the relational algebra model that is used in 100% of all enterprises, and has an 85% market share. Chromia is the only blockchain that use that model and that power.
Ellkayy,
Why Chromia use RELL and not SQL or JavaScript? Can developers with other language knowledge use Chromia?
Serge,
Rell is the only language on the blockchain side. You can combine with anything on client-side, although now client only exists for JS/TS, C# and Java/Kotlin. Rell is a language for relational blockchain programming. It combines the following features:
1 Relational data modeling and queries similar to SQL. People familiar with SQL should feel at home once they learn the new syntax.
2 Normal programming constructs: variables, loops, functions, collections, etc.
3 Constructs which specifically target application backends and, in particular, blockchain-style programming including request routing, authorization, etc.
Rell aims to make programming as convenient and simple as possible. It minimizes boilerplate and repetition. At the same time, as a static type system it can detect and prevent many kinds of defects prior to run-time.
Roshan DV,
I have been monitoring your project for a while but some concerns about it: Your project will build your own core network, so you have more visibility than Ethereum and NEO. These are projects that were born before and which also have a very large community. And what can assure you that your project will guarantee the functionalities that you have defined?
Henrik Hjelte,
What came first? I want to remind that Vitalik was in the colored-coins project, led by our CTO and we had blockchain in production before ETH and NEO etc existed. We are the old dogs…
Large community: We are part of the same community. When developers are fustrated and want to try new tech, they go to us from other blockchains.
Also, we have a large potential: SQL (close to Rell and our tech) is the world top 3 language. Bigger than Java. Bigger than PHP. Only beaten bny HTML and javascript. Soliditiy is not on top 20 list. THere are millions of developers that know SQL. That is potential for community… (source is Stackoverflow annual programming survey).
Paul (Via Manage),
What are the utilities of Chromia and what purpose does the Chromia coin serve?
Serge,
Chromia meta-token called Chroma (CHR). It is used in Chromia to compensate block-producing nodes by fees. In Chromia, fees are paid by dapps, which can in their turn collect fees from users. Chromia provides mechanisms which balance the interests of developers and users. Dapp tokens can be automatically backed with Chroma, providing liquidity and value which is independent of investment into the dapp. Dapp investors can be compensated in Chroma through a profit-sharing contract. For developers, Chromia offers the opportunity to derive income from dapps. This incentivises the creation and maintenance of high quality dapps because better dapps generate more income and create more demand for tokens owned by the developer. The Chromia model is designed to support sustainable circular economies and foster a mutually beneficial relationship between developers, users, and investors.
Idemudia Isaac,
Thank you very much u/henrik_hjelte u/sergelubkin
You stated your plans for 2020 is to release series of dApps. What kind of large scale, mainstream decentralized application and $Chromia products do you think is suitable for the Nigerian environment?
Henrik Hjelte,
Actually, this is why we want to work with partners. We cannot know everything, For African market we have seen of course payments/remittances (but it has fallen out of trend). We would love to do real-estate /land-registration but we understand we need a strong local partner (more than a single person, a real company or organization driving).
●CC● | Elrond 🇵🇭,
What plans do you have to building a vibrant global community around Rell? And how would you go about encouraging/incentivising such ‘Rellists’ around the world to build dApps on Chromia? u/henrik_hjelte u/sergelubkin
Henrik Hjelte,
For developers (I am one too, or used to be) you normally need to prove a few things:
\ That the tech is productive (can I do apps faster?)*
\ That it is better (less bugs, more maintainable?)*
Then the community will come. We see that all the time. Look at web development. React.js came, and developers flooded to it. Not because of marketing on Superbowl, but because it was BETTER. Fewer bugs and easier to do complex webapps.
So, at core: people will come when we showcase the productivity gains, and that is what we need to focus on.
●CC● | Elrond 🇵🇭,
Why do you choose to build Chromia token on ERC20 instead of other blockchain such as BEP2, TRC20…or your own chain while ERC20 platform is very slow and have a case of fee? u/henrik_hjelte u/sergelubkin
Serge,
So far Ethereum has the best infrastructure, it’s the oldest and most reliable network for tokens. It also became the industry standard which exchanges utilize. We will transfer 80% of all erc20 tokens to our Chromia blockchain when it’s ready for that.
Koh,
In your whitepaper it says in the upcoming version of ChromiaWallet that it will be able to function as a Dapp browser for public use. Q) Will it be similar to the Dapp browser on Trust Wallet?
Serge,
It’s live already try it http://vault-testnet.chromia.com/
It’s the wallet and a dapp browser
CHROMIA is SOLID,
Your metamorphosis is a laudable one,surviving different FUD, how have you been able to survive this longest bear market and continue building and developing cos many projects have died out in this time period!
Henrik Hjelte,
You need to know we started a company before ETH existed. There was 0 money in blockchain when we started. I did it becuase it was fun, exciting tech and MAYBE someone would be interested in the thing we made “Tokens”…
We were never in the crazy bull-market, manly observed the crazies from the side. We fundraised for CHR in a dip (they called it bear market). ChromaWay the company also make money from enterprises.
Алекс,
What is SSO?
What makes it important for chromias ecosystem?
Why should we users be attracted to it?’
Serge,
Chromia SSO is perhaps the most important UX improvement that Chromia offers the decentralized world. It revolutionizes the way users interact with dapps. Any dapp requires users to sign transactions, that means they need a private key. Control of the private key is control of any and all dapps or assets associated with it. This means that private keys have an especially stringent set of security requirements in a blockchain context — they control real value, and there is no recourse if they are compromised or lost. https://blog.chromia.com/chromia-sso-the-whys-and-the-whats/
Olufemi Joel,
How do you see the Chromia project developing in 3 to 5 years, both on the commercial level and on the evolution of the company? What are the plans for expansion in different regions? Are you going to outsource the team/skills or keep it centralized and set up offices?
Henrik Hjelte,
I take part of the question. On outsource: we were a distributed team from day one, with co-founders from 3 countries (still living there). We are distributed now, Ukraine, Sweden, Vietnam, Croatia, China are “hubs” then we have individuals too. No big plan, just where we found great developers…
Park Lee, u/henrik_hjelte
You claim CHOROMIA have fast support, useful features with an affordable service cost. That fast and the fees are cheap but can you guarantee stability?
What’s the Algorithms which are used by CHROMIA for that fast? And Can you explain it?
Serge,
We use PBFT protocol with some features of DPOS, this plus sidechains parallelism offers almost unlimited speed and scalability. We also use the feature called anchoring to secure all transactions in batches on Bitcoin blockchain.
Mario Boy,
What are you guys trying to achieve as an end goal? The next Ethereum? Or the next enterprise version of Ethereum? Or something different?
Henrik Hjelte,
The end goal… good question. When we started in 2014 there were no other blockchain companies, so we wanted to do the best blockchain technology in order to enable a decentralized world with more fair applications. And that is what we still do. Technology/software that can enable people to make a fairer world
Erven James Sato,
“STAKING” is one of the STRATEGIES to ATTRACT USERS and ACHIEVE MASS ADOPTION
Does your GREAT PROJECT have plan about Staking?
Serge,
Yes, we announced our staking plans couple of months ago https://blog.chromia.com/on-providers-and-stakes/
We are working with our current partners to make it accessible for general public.
Chizoba,
I often see Chromia and ChromaWay being used interchangeably, what is the relationship between the two?
Henrik Hjelte,
ChromaWay the company started Chromia from code done as postchain. This is normal in open-source development, a company that leads development. But Chromia will be a decentalized network, so ChromaWay will not make direct money out of it more than if we have a role as a Provider (and get payed for hosting). ChromaWay can indirectly make money from optional support and maintenance etc. Also, this, perfectly normal in open-source world.
And it also benefits Chromia that there is a market for support.
A market open for competition.
No special treatment for “ChromaWay”
Enajite,
How to start coding on Chromia?
Henrik Hjelte,
Go to https://rell.chromia.com and follow the tutorial. Enjoy the free time you get compared to other blockchain languages…
●CC● | Elrond 🇵🇭,
Chromia process 500 TPS, these is slow compare to other Blockchains, where we can see now 60K TPS if more capacity require, how can that be? u/henrik_hjelte u/sergelubkin
Serge,
Yes, if you need faster speed you can use parallelism by having multiple blockchains for your dapp. Also, by optimization and better architecture sky is the limit.
Delphino.eth ⟠,
Can we consider Chromia an hybrid? For its mixing of Blockchain and a Database?
Henrik Hjelte,
Yes and no. I want to stress that Chromia is a FULL blockchain. It is not only “inspired”. It is a blockchain AND a database.
I tend to think about Hybrid more in the usecases that you might have as a customer. For example, a bank might want to have some data/transactions private (as a private blockchain) and have another half of the application with public data (on Chromia). So that is a hybrid solution, and Chromia ROCKS in that segment since it is the only blockchain that is complete relational database (what the normal world uses anyway for 85% of all applications)
Example area: “open banking”
Steve bush,
How will Chromia I have any empower Investors, Companies, Developers, Platform Users to
deliver impactful solutions and bring value to people all over the world?
Henrik Hjelte,
In order to make blockchain go big, we need to have users. Users need to be able to use apps with ease. Chromia have features like single-sign on (ease of use), but importantly do not require owning tokens to USE apps.
Also, it needs to be easy to make applications. For example, if you are a student in US and came up with an idea, you want to make an application for your school. Let’s call it “thefacebook”. You code something in PHP and MySQL. DID YOU SEE THAT. SQL. SQL.SQL. It is the same tech that Chromia has but no one else in the blockchain business. SQL rules the world if you look outside the crypto bubble. Google the Oracle head-office… 100% of all enterprises use it… Because it is easy and powerful.
And we even improve on SQL with Rell….
So, compare that with a hacky virtual machine that have a few years…. 😊
August,
“Mines of Dalarnia” is a game that has caught my attention a lot, due to its simplicity and quality. But in the time that I have used it I have not been able to differentiate between the Chromia blockchain of this game and that of the competition? What other games do you have next to develop? I would like to give ideas in those games like a Gamers!
Henrik Hjelte,
We thought about in corona time sports club might want to engage more with their fans digitally. And of course, E-Sports is getting a real momentum as the young generation grows up. Now a bit sad that all games are centralized. My daughter will be sad when (at some day?) they will close down roblox… it happens to all centralized apps eventually… that is what we fix. Power to the Public to control apps and their future. I’ll repost again Alex post. Sorry I like it a lot… https://blog.chromia.com/towards-publicly-hosted-applications/
Bisolar,
Good day Chromia team from a Chromia fan
Can you tell us Chromia’s geographical focus at the moment and the proces it follows for it BUSINESS DEVELOPMENT?
What factors do you consider before identifying NEW MARKETS to enter?
Serge,
Chromia will initially focus on community building in China, Korea, US and Europe. The focus of community growth will gradually expand to other markets as the project gains popularity.
Current community growth strategies of Chromia include:
Chromia blockchain incubator creation to welcome more projects to the Chromia blockchain
Host blockchain gaming conferences, workshops, and meetups to engage with potential users.
Provide online and face-to-face tutorials to engage with dapps developers.
Attract blockchain developers through direct and indirect approach via specialized platforms and communities.
Develop our relations with existing and previous corporate clients, and their partnership networks to participate in their blockchain ventures
Launch Node program to encourage system providers to run nodes on the Chromia blockchain.
Staking program for Chroma (CHR) tokens
Active community engagement via social channels.
Future community growth strategies of Chromia after Mainnet launch include:
Partner with more gaming studios, startups and enterprises
Build local communities with Ambassador Programs.
Partner with external incubator and accelerators to provide blockchain expertise and introduce projects to Chromia ecosystem
Continue organizing hackathons around the world to attract more developers.
Emmanuel,
I want to know the current structure of your roadmap? What is the future roadmap of CHROMIA? Is there any key milestone coming???
Henrik Hjelte,
It is easy to do a roadmap; anyone can make a pape plan. But I think they are used in the wrong way. Software is hard, blockchain is even harder because it NEEDS TO BE SECURE. No MVP releases. We cannot even have roadmap deadlines and skimp on quality. Where we are now though is: Rell language finished so much that developers can write apps and see its magic. We have external devs doing dapps. We have the first phase of mainnet. We have a series of releases coming up. We will release mainnet when it is secure enough, and gradual roll out. I think quite soon, development is going great at the moment, a bit quicker than we though.
Ellkayy,
Why doesn’t Chromia transactions use gas? How do you power transactions then?
Serge,
Main feature of gas in Ethereum is to pay for transactions for miners get rewards. In our scenario Providers get rewards from dapp owners. So dapp owner pays for storing their dapp. It’s like Amazon Web Service model. Then dapp owner can monetize it in its own way.
Ellkayy,
Many developers don’t know RELL, just Solidity and SQL. Is this a barrier or threat to Chromia? Why RELL is better?
Henrik Hjelte,
Very few developers know Solidity. Do a search on github. I referred previously to stackoverflow programming language survey results. https://insights.stackoverflow.com/survey/2019#technology
If you know SQL, you learn Rell in a day.
SQL is the top 3 language here. I’d say there are millions that can easily jump to Rell.
Soldity or other blockchains, not on top 20 list even.
Rell is a hipper, nicer version of SQL that is also a “normal” programming language.
Developers like to learn new things, new languages. Otherwise we would be stuck with PHP, the DOMINANT language. Well, is it still? Seems javascript and react.js and node etc is taking over…
Moh (Binance Angel)🇳🇬,
This brings us to the end of the AMA. It’s been a pleasure being with all of you, THANK YOU. Special shout out to u/sergelubkin and u/henrik_hjelte for honouring us with their presence today❤️
Kindly follow CHROMIA on twitter and join the conversation with their community on Telegram
Twitter: https://twitter.com/Chromia
Telegram: https://t.me/hellochromia
Official Chromia Nigeria Community Channel 🇳🇬 : https://t.me/ChromiaNigeria
Website: www.chromia.com
submitted by dam30 to Teamchromia [link] [comments]

Weekly Update: $BOMB SWOT Analysis, HYDRO dApp store, Silent Notary Consilium, Job Opening at OST... – 20 Sep - 26 Sep'19

Weekly Update: $BOMB SWOT Analysis, HYDRO dApp store, Silent Notary Consilium, Job Opening at OST... – 20 Sep - 26 Sep'19
Hiya folks! Happy Diwali to everyone. Here’s your week at Parachute + partners (20 Sep - 26 Sep'19):

Tons of quizzes and contests this week at Parachute + TTR. Doc Vic hosted a trivia on medicine and another one on WW2 this week in TTR. A total of 50k $PAR given away. Victor hosted another trivia there too for 25k $PAR. Sweet! The Big Brother contest came to a close with the finale this week. The winner of Big Brother was Michie, who sadly no one picked. So all 21 participants won 5K $PAR each! Another 70k $PAR was given out to other winners. Plus, $202,500 PAR have been awarded in the various Big Brother contests earlier. Huge! Thank you Gian for doing all of this. And did you get a chance to partake in Tiproom’s Mememania? 50k $PAR in prizes – 25k for top 10 winners and another 25k for 100 memes. Next week’s update will feature some of the funniest memes from the contest. Richi hosted a Movie Trivia in Tiproom for a 25k $PAR prize pot for 10 questions. Woot!
Looking good Alexis!

Catch up on the latest at aXpire from the weekly update video compiled by Joakim. This week’s 20k $AXPR burn can be tracked here. CEO Gary Markham, who sits on the board of Hedge Fund Association, travelled to an HFA event to spread the word on the project. In the last update, we shared that 2gether was hosting a blockchain and tokenization based contest named Crypto Talent in partnership with IEB Spain for students and professionals. Read more about it here. News of the competition was shared on Cointelegraph as well. You can also listen in to Founder Salvador talk about the contest here and here. Check out the 2gether T-shirt that the team wore to the South Summit next week. Neat! CEO Ramon spoke at the Finnovista Pitch Day about FinTech innovation. Salvador’s interview along with a profile of 2gether was published in The Blockchain Land. The winner of the Birdchain Art Contest was announced this week. Congratulations! Plus, some news updates on the app were shared as well.
Birdchain Art Contest winner. Wicked!
Last week we shared that the $XIO ERC20:BEP2 bridge testnet trials have gone well. Here’s a sneak peek into how it looks. Once activated (condition to the acceptance of the Binance Dex listing application), the bridge will be open for roughly a month*. Dash also talked about 3 marketing mistakes that crypto startups make commonly – paying for PR (earned media > paid media), focus on follower count (organic reach > vanity metrics), airdrops (unless done strategically). If you had questions on how the XIO system will work and help startups scale, then fret not. Zachary wrote an article and video explaining it all. The community also voted this week to opt in for an SMS update option if there were ever one. The $BOMB community survey results are also out. This set the basis for a detailed SWOT analysis of the token. An excerpt from Benjamin’s 4% burn report was published on Coinbeat as well. In this week’s discussion series, Zachary reflects on market movements and the nature of the XIO incubator program.
\*[As of today, the switch to Binance Chain has been shelved. $XIO will stay on Ethereum. But there will still be a token swap. Details will be shared in a later update]
BOMB survey results show that the community is well distributed across the globe
Fantom’s Statheros stablecoin project will be partnering with a South African bank working on a mainnet launch. Initial details of the tie-up were released. The news was covered by CFN as well. CMO Michael travelled to a CFN event in London. Click here for pics. Technical Update #14 came out too. The big exclusive at Uptrennd this week was bagging an interview Andreas Antonopoulos. Awesomeness! Loopring CMO Jay sat down with founder Jeff to talk about the road ahead for the company. In this week’s public vote, the community voted to get TomoChain a free review from Altcoin Buzz. Community member Jackson Jerry took the initiative to deliver a presentation on the platform to thousands of students during a University Blockchain Awareness tour. Writers were in for a treat with the start of an article writing challenge with a 1,750 $1UP prize pool. Say what! Like last week, this week’s Meme Monday event saw some hilarious submissions. Uptrennd also got coverage on Micky News’ PR piece. Noice! Welcome to the Sentivate crew Jack! Learn about domain extensions and universal domain systems in this detailed article and thread by Sentivate founder Thomas. Tech enthusiasts were in for a treat this week with discussion threads on 5G and packet puzzles. The latest District Weekly from District0x covers mostly dev updates from the past week. Classic memes was the theme for this week’s Meme contest :p
Old school memes FTW! Lmao
Hydro got nominated for the Florin Asia Innovation Award. Good Luck! The Hydrogen dApp store was opened up for beta testers. The store is also open source. Great! Click here to read up on the structure of the dApp store and how it was built. A number of third party partners joined the store this week including 3Box, TotleCrypto and Carbon. General Operations Manager Marcco Paez sat down for an AMA with Crypto Nation to talk about Hydro. Hope you got a chance to get your questions answered. The team was at InsureTech Connect to represent the project. Want to check out an awesome spectacle? Hydro’s article on visualising code activity in decentralised projects has some uber cool visualisations. You could create one too using Gource. The latest developer update summarises all work done in the past week on the dev front. Silent Notary announced the launch of a Consilium system which will be using its own blockchain network (IDL) for legal actions on the platform. This was necessary since the Ethereum chain is anonymous and legal proceedings require identifiable actors. The $SNTR token will continue to exist on both chains (Ethereum and IDL). For more titbits on the update click here, here, here and here. For updates on Ubikiri, make sure to join the ann channel on Telegram started recently. Full list of socials can be found here. The $LAW referral bonus started last week has seen 4000+ wallets receiving the tokens so far with more on the way. Plus, the presale details are now available on the IDL site.
Hydro dApp store dev visualisation. Beautiful
Last week, the Arena Match community voted to decide which exchange to pursue for a listing of the $AMGO token. DDEX emerged as the winner of the vote. This week, $AMGO got listed on DDEX. Also, the much awaited review of the project by the Uptrennd team was published in two parts (Part I, Part II). Blockfolio and Delta accepted $AMGO for listing on their platforms. Woohoo! Job opening alert on OST: the team is looking for a Product Lead. Apply if you’re up for it. CEO Jason explained how adding friction in early onboarding process helps achieve product-market fit in this tweet thread. Congratulations to SelfKey for becoming an official member of CryptoUK, a self-regulatory trade association based in UK. If you have considered opening an offshore bank account, check out this article on the best countries to choose from. You can make your first move using the Wallet marketplace as well. Hope you took some time out to vote for SelfKey for the Blockchain Identity Management Use Case Award. Constellation’s partnership with the US Air Force was covered by Forbes this week. The team also announced a partnership with StackPath to make node deployment scalable for enterprise clients. Co-Founder Wyatt travelled to USC, Los Angeles, to a Hyperledger meetup to talk about how blockchain protocols can achieve elasticity. Click here to watch his presentation. Bags token launched a 10k $BAGS giveaway contest for helping spread the word on the project. Sweet! The first promo video is up on the BAGS TV YouTube channel. Check it out! An Upcycle Event in the BAGS Bazaar allows you to exchange some of your tokens for $BAGS. This week, they held their 4th Bazaar Upcycle event.

And with that, it's a wrap for this week at Parachute + partners. Ciao!
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BankDex - The First Exchange to Overcome High Latency in Cryptocurrency Exchanges

BankDex - The First Exchange to Overcome High Latency in Cryptocurrency Exchanges
BankDex is a user-friendly decentralized exchange, which ensures fiat trading with fast withdrawals and near-feeless transactions. Our team aims to involve new users in blockchain community by eliminating barriers relating with the complexity of buying, transferring & cashing out assets. In this article we research crypto exchanges market and our potential share at first, and then show our benefits and solutions and how it works.
DEX market overview
Encrybit team revealed real-time cryptocurrency exchange problems survey insights1. 1108 crypto traders were questioned: “What are the biggest concerns that you see in currently available exchanges!”. The main issues faced are:

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The second question was which exchange do you like, and virtually all respondents referred to centralized exchanges (CEX) here. This survey can be supported by market researches. Trading data from six major centralized exchanges (Binance, Bitfinex, Bithumb HitBTC, Huobi and OKEX) was compared to that from nine leading decentralized exchanges (Bancor Network, BitShares, DDEX, EtherDelta, ForkDelta, IDEX, OpenLedger, StellarTerm, and the Waves Platform). The share of DEX was only 2% of the total trading volume2. The reason is clear: the current generation of DEX has made progress only in security concerns3, while contributing to all other problems and suffering new, like fragmented markets4, no fiat support5, no scaling6, the impossibility of transactions between different blockchains7. Also clear that market is looking forward to flagman product which will eliminate challenges and will enable market growth. Experts highly estimate its potential. Increasing the number of institutional investors8, DEXs should reach up to 4% of total crypto market volume within the next two years. This would mean growth of 5–20x for DEX usage.
A Primer to BankDex
BankDex is a decentralized exchange built in response to the demands of the cryptocurrency users, for a simplified and enhanced trading platform. The platform is built on a robust ecosystem that promotes an enriched user experience, low latency, greater liquidity and security for user transactions.
BankDex employs a loose mesh topology powered by kernel nodes which are responsible for faster transaction persistence and validation. In addition to ensuring faster transactions that can be completed in less than a second, they are also highly resistant to security attacks by being Asynchronous Byzantine Fault Tolerant (aBFT).
The exchange features an impressive collection of crypto — crypto pairing across its network. The array of its supported tokens and cryptocurrencies currently includes BTC, XRP, XLM, ADA, ETH, TRX, EOS, QNT, VIBE, MKR, ZIL and REM, with many more to be added along the timeline.
BankDex allows its users to withdraw funds for free from their wallet. Third party wallet integration is also one of those features to be integrated in the near future. The BankDex transaction management system is both unique and secure, ensuring a flawless trading platform for cryptocurrency users.
Latency and Cryptocurrency Exchanges
Traders handling large quantities of cryptocurrency trade often find themselves in need of an exchange with one particular feature — low latency. In the simplest of terms, latency can be defined as the delay to receive a response after a request is made. As it connects with trading, latency affects the amount of time required for traders to mingle with the market.
Latency, in trading terms, implies to the speed with which a trading platform can react to the present status of the market. Trading platforms integrate programs specially designed to buy and sell assets in less than a second. Low latency means that these platforms are able to react faster to the actions of the market. The rapid nature of today’s market enables traders to make a significant amount of money.
Traders who take part in such kind of trade look for very low latency, somewhere in the range 10 milliseconds to 0.1 milliseconds. This kind of speed limit can be reliably accomplished by machines only. For low latency trades to be worthwhile and lucrative, users require an exchange that can handle such high speeds. The ideal latency will figure around a speed of 0.5ms, but this is quite difficult to accomplish.
Managing Latency in BankDex
BankDex decentralized cryptocurrency exchange addresses the latency issue with the lightning network concept, which ensures faster and safer trade of crypto & fiat currency. It overcomes the scalability issues, inherent to blockchain and enhances the throughput and latencies associated with a transaction.
The trading exchange consists of seven blockchains, which communicate with the core through a set of communication protocols. The communication between the different blockchains is established with the help of an interoperable blockchain router.

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BankDex and the Lightning Network
A lightning network can be described as a protocol layer that enables low-latency, high volume digital micropayments without the help of an intermediary. The fundamental technology of lightning network involves a payment channel, a local two-party consensus.
Both the parties involved in the transaction sends an initial amount of Bitcoin, or any cryptocurrency token into a multisignature transaction. The multisignature transaction involves a local consensus on the existing balance that is allocated between the two parties in the transaction.
Any update regarding the allocation of the existing balance can be only be made with the cooperation of both entities involved in the transaction. This is done with the help of a new transaction that spends the funds allocated for the multisignature transactions allocated to each party.
Website : https://www.bankdex.io/ Twitter : https://twitter.com/bank_dex Facebook : https://www.facebook.com/bankdex.io Telegram : https://t.me/BankdexChatOfficial Whitepaper : https://www.bankdex.io/index.php/white-pape Technical Paper : https://www.bankdex.io/wp-content/uploads/2019/05/Technical-Paper.pdf
Bounty0x username : nefsim

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