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      "author": "steemitboard",
      "permlink": "steemitboard-notify-tculia-20190622t180135000z",
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      "body": "Congratulations @tculia! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@tculia/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@tculia) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=tculia)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/the-steem-community-has-lost-an-epic-member-farewell-woflhart\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmQWnM36SWCPGn98nY83M1ArgweMz5fnovQEp2E4FiDdug/Wolfhart_header.png\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/the-steem-community-has-lost-an-epic-member-farewell-woflhart\">The Steem community has lost an epic member! Farewell @woflhart!</a></td></tr><tr><td><a href=\"https://steemit.com/steemtoolbar/@steemitboard/steemtoolbar-update-display-bug-fixed\"><img src=\"https://steemitimages.com/64x128/http://i.cubeupload.com/7CiQEO.png\"></a></td><td><a href=\"https://steemit.com/steemtoolbar/@steemitboard/steemtoolbar-update-display-bug-fixed\">SteemitBoard - Witness Update</a></td></tr><tr><td><a href=\"https://steemit.com/steem/@steemitboard/do-not-miss-the-coming-rocky-mountain-steem-meetup-and-get-a-new-community-badge\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmUphCGZFWgt6bJ1XTtunV7esnwy6bxnGqcLcHAV3NEqnQ/meetup-rocky-mountain.png\"></a></td><td><a href=\"https://steemit.com/steem/@steemitboard/do-not-miss-the-coming-rocky-mountain-steem-meetup-and-get-a-new-community-badge\">Do not miss the coming Rocky Mountain Steem Meetup and get a new community badge!</a></td></tr></table>\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "author": "skyemerald",
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      "body": "@@ -247,9 +247,14 @@\n ockchain\n-/\n+-sk-st\n",
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      "body": "Thanks for sharing your thoughts and ideas with us about blockchain. Can't get enough of information and ideas that i am getting right now. Just wanted to share this blog about blockchain. \n\nhttps://blog.kucoin.com/what-are-the-applications-of-blockchain/",
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      "permlink": "re-tculia-re-dragonplan-re-tculia-siacoin-storj-and-inxt-comparison-20180825t160124994z",
      "title": "",
      "body": "yes, thanks so much for the sharing,   i will add the original link in the article.",
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      "permlink": "re-dragonplan-re-tculia-siacoin-storj-and-inxt-comparison-20180723t012036848z",
      "title": "",
      "body": "Absolutely, I encourage you to share this. Be sure to reference Coinmarketcap.com for updated market capitalizations on each coin mentioned in the article. \n\nCheers!",
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      "title": "",
      "body": "HI. nice to meet you. this is Brian Liu from China. i read a lot about your blog,you have many fresh ideas.\n\nI'm thinking about translate your blog and post it on the community if you agree, just sharing knowledge with people, it's not for commercial purpose.\n\nI'm looking forward to your early response.",
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      "body": "Hi your article is very good.\ni want to translate it and share your idea with people around me.\nam from China, Beijing.\nhope can get your early response discuss about this.\nThank you so much for your sharing.",
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      "body": "Orian Research published a new in-depth research report on Global Blockchain Technology Market 2018. This report gives you statistical analysis of the Market size, share, trends, demand, growth, manufacturers, current and future scenario of the market and forecast 2025. Get Sample copy of this Report @  https://goo.gl/muubvw",
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      "title": "Siacoin, Storj, and INXT Comparison",
      "body": "@@ -2830,16 +2830,25 @@\n  storage\n+ platform\n , but th\n",
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      "title": "Siacoin, Storj, and INXT Comparison",
      "body": "http://marconisociety.org/wp-content/uploads/2017/11/decentralizedInternet.jpg\n\n\nHere's a quick market cap comparison of three different crypto projects seeking to produce efficient decentralized cloud storages through the use of blockchain technology. \n\n<center>Siacoin - $0.014\n  Market Cap - $464,562,514\n  Circulating Supply - 33,030,623,997 SC</center>\n\nSiacoin: \"Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.\" - https://sia.tech/\n\n<center>Storj - $0.976174\n  Market Cap - $130,246,497\n  Circulating Supply - 133,425,493 STORJ</center>\n\nStorj: \"We're building the next generation of decentralized object storage, end-to-end encrypted, where only you have access to your data. Powered by Blockchain payments.\" - https://storj.io/\n\n<center>INXT - $9.00\n  Market Cap - $5,664,767\n  Circulating Supply - 629,610 INXT</center>\n\nINXT: \"A new wave of internet services powered by decentralized technology. Secure digital life without the complications.\" - https://internxt.io/\n\n\nThe overall market cap for all three projects comes out to be $600 million. Clearly, there is plenty of value in decentralized cloud storage platforms since they are, and/or will be a cheaper and safer option compared to other traditional cloud storage platforms such as AWS. It will be interesting to see which platform becomes the most innovative using decentralized technologies. \n\nI personally find INXT to stand out the most since it's market cap is significantly less than the two leading players, which shows INXT hasn’t had much exposure to a wider audience of investors compared to both Sia or Storj. \n\nLet's talk demand. The value of any crypto token is based on the supply in circulation. This is how you are able to determine the demand of any token since its supply is fixed or in other words, scarce. \n\nNow let's run the math, in order to calculate the price of a token you must divide the market cap with the circulating supply. I'll use INXT as an example. \n\n$5,664,767 (INXTs current market cap) ÷ 629,610 INXT = $8.99 per INXT token\n\nNow let's run a hypothetical. Say INXTs market cap reached that of Storj, or even Sia?\n\n$130,582,729 (Storjs current market cap) ÷ 629,610 INXT = $207.40 per INXT token\n\n$467,006,780 (Sias current market cap) ÷ 629,610 INXT = $741.73 Per INXT token\n\nAs you can see, the market cap for INXT still remains well below both Storj and Sia meaning INXT still has plenty of room to grow. Personally, I wouldn’t be surprised to see it grow by a significant margin considering what they have to offer.  Not only do they have a focus on creating an easy-to-use decentralized cloud storage, but they also aim to decentralize the internet. \n\n<center>**_Please do not take this as investment advice. I am by no means a financial advisor. I would HIGHLY suggest that you do thorough research before making any investments. Protect your capital!_** </center>",
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      "title": "Siacoin, Storj, and INXT Comparison",
      "body": "@@ -1392,16 +1392,26 @@\n cheaper \n+and safer \n option c\n",
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      "body": "@@ -89,16 +89,27 @@\n a quick \n+market cap \n comparis\n",
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      "body": "@@ -1462,14 +1462,12 @@\n  It \n-should\n+will\n  be \n@@ -1823,24 +1823,31 @@\n alue of any \n+crypto \n token is bas\n@@ -1911,12 +1911,17 @@\n  to \n-test\n+determine\n  the\n@@ -2983,13 +2983,19 @@\n est \n-doing\n+that you do\n  tho\n",
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      "body": "@@ -1,8 +1,89 @@\n+http://marconisociety.org/wp-content/uploads/2017/11/decentralizedInternet.jpg%0A%0A%0A\n Here's a\n",
      "json_metadata": "{\"tags\":[\"blockchain\",\"cryptocurrency\",\"bitcoin\",\"internet\",\"steemit\"],\"links\":[\"https://sia.tech/\",\"https://storj.io/\",\"https://internxt.io/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\",\"image\":[\"http://marconisociety.org/wp-content/uploads/2017/11/decentralizedInternet.jpg\"]}"
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  "trx_id": "17669bb9655428576f341a754ae465ec75bb289f",
  "block": 20648448,
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  "op": [
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      "parent_author": "",
      "parent_permlink": "blockchain",
      "author": "tculia",
      "permlink": "siacoin-storj-and-inxt-comparison",
      "title": "Siacoin, Storj, and INXT Comparison",
      "body": "Here's a quick comparison of three different crypto projects seeking to produce efficient decentralized cloud storages through the use of blockchain technology. \n\n<center>Siacoin - $0.014\n  Market Cap - $464,562,514\n  Circulating Supply - 33,030,623,997 SC</center>\n\nSiacoin: \"Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.\" - https://sia.tech/\n\n<center>Storj - $0.976174\n  Market Cap - $130,246,497\n  Circulating Supply - 133,425,493 STORJ</center>\n\nStorj: \"We're building the next generation of decentralized object storage, end-to-end encrypted, where only you have access to your data. Powered by Blockchain payments.\" - https://storj.io/\n\n<center>INXT - $9.00\n  Market Cap - $5,664,767\n  Circulating Supply - 629,610 INXT</center>\n\nINXT: \"A new wave of internet services powered by decentralized technology. Secure digital life without the complications.\" - https://internxt.io/\n\n\nThe overall market cap for all three projects comes out to be $600 million. Clearly, there is plenty of value in decentralized cloud storage platforms since they are, and/or will be cheaper option compared to other traditional cloud storages such as AWS. It shall be interesting to see which platform becomes the most innovative using decentralized technologies. \n\nI personally find INXT to stand out the most since it's market cap is significantly less than the two leading players, which shows INXT hasn’t had much exposure to a wider audience of investors compared to both Sia or Storj. \n\nLet's talk demand. The value of any token is based on the supply in circulation. This is how you are able to test the demand of any token since its supply is fixed or in other words, scarce. \n\nNow let's run the math, in order to calculate the price of a token you must divide the market cap with the circulating supply. I'll use INXT as an example. \n\n<center>$5,664,767 (INXTs current market cap) ÷ 629,610 INXT = $8.99 per INXT token</center>\n\nNow let's run a hypothetical. Say INXTs market cap reached that of Storj, or even Sia?\n\n<center>$130,582,729 (Storjs current market cap) ÷ 629,610 INXT = $207.40 per INXT token</center>\n\n<center>$467,006,780 (Sias current market cap) ÷ 629,610 INXT = $741.73 Per INXT token. </center>\n\nAs you can see, the market cap for INXT still remains well below both Storj and Sia meaning INXT still has plenty of room to grow. Personally, I wouldn’t be surprised to see it grow by a significant margin considering what they have to offer.  Not only do they have a focus on creating an easy-to-use decentralized cloud storage, but they also aim to decentralize the internet. \n\n<center>**_Please do not take this as investment advice. I am by no means a financial advisor. I would HIGHLY suggest doing thorough research before making any investments. Protect your capital!_** </center>",
      "json_metadata": "{\"tags\":[\"blockchain\",\"cryptocurrency\",\"bitcoin\",\"internet\",\"steemit\"],\"links\":[\"https://sia.tech/\",\"https://storj.io/\",\"https://internxt.io/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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      "parent_author": "tculia",
      "parent_permlink": "part-4-smart-contracts",
      "author": "decentralization",
      "permlink": "re-tculia-part-4-smart-contracts-20180307t172104781z",
      "title": "",
      "body": "Waves set to release their smart contracts any day now",
      "json_metadata": "{\"tags\":[\"blockchain\"],\"app\":\"steemit/0.1\"}"
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      "parent_permlink": "blockchain",
      "author": "tculia",
      "permlink": "part-4-smart-contracts",
      "title": "Part 4: Smart Contracts",
      "body": "@@ -1275,18 +1275,99 @@\n gain. %0A%0A\n-%0A%0A\n+https://steemitimages.com/DQmdN7qafaDMKcqJdK8G6fXtWq9Q5ZC9oYwGW96NMJqnqMD/image.png\n %0A%0A%0A%3Ccent\n",
      "json_metadata": "{\"tags\":[\"blockchain\",\"cryptocurrency\",\"bitcoin\",\"steemit\",\"ethereum\"],\"links\":[\"http://www.fon.hum.uva.nl/rob/Courses/InformationInSpeech/CDROM/Literature/LOTwinterschool2006/szabo.best.vwh.net/smart_contracts_2.html\",\"https://en.bitcoin.it/wiki/Contract\",\"https://en.wikipedia.org/wiki/The_DAO_(organization)\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\",\"image\":[\"https://steemitimages.com/DQmdN7qafaDMKcqJdK8G6fXtWq9Q5ZC9oYwGW96NMJqnqMD/image.png\"]}"
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  "trx_id": "852994e6724123a9b0db525e896c9c23bc7f694c",
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  "timestamp": "2018-03-06T17:56:30",
  "op": [
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      "parent_permlink": "blockchain",
      "author": "tculia",
      "permlink": "part-4-smart-contracts",
      "title": "Part 4: Smart Contracts",
      "body": "**“A smart contract is a set of promises, specified in digital form, including protocols within which the parties perform on these promises.”** - Nick Szabo\n\nThe concept of [Smart Contracts](http://www.fon.hum.uva.nl/rob/Courses/InformationInSpeech/CDROM/Literature/LOTwinterschool2006/szabo.best.vwh.net/smart_contracts_2.html) was coined by cryptographer Nick Szabo in 1994, when he realized that distributed systems such as Blockchains could execute digital contracts between complete strangers in an automated way. A smart contract is somewhat similar to a traditional contract, where two willing parties agree upon specified terms either in verbal or written form. The difference with a smart contract is that it is a self-executing computer protocol that makes the exchange of value more transparent and safer (i.e. assets, property, anything involving contractual agreement) while removing the need of a middleman. \n\nThe smart contract processes the code and determines whether or not the two willing parties will receive whatever they are exchanging, based on the input they’ve provided. Smart contracts are unique in that they enforce rules and penalties that were written within the code. This is intended to prevent anyone from altering the agreement for selfish gain. \n\n\n\n\n\n\n<center><h4>Why on a Blockchain?</h4></center>\n\nBlockchains are known for being an efficient method for securing data of any kind, since their networks are distributed across computers (miners) all over the world. This provides smart contracts with an additional layer of security since each computer carries a copy of the blockchain, making the records (smart contracts) fully permanent and very difficult to alter. The open ledger reveals the execution of the contract, while keeping both parties’ identities anonymous. \n\n<center><h4>Example</h4></center>\n\nSay Jim wants to rent out Susan's apartment. Jim contacts Susan to ask if her apartment is still available. She says, “Yes, it is!” and then draws up a smart contract (lease) with the conditions that Jim has to meet on a monthly basis. He agrees to these conditions so they both sign and finalize the agreement. The smart contract then proceeds to transfer the digital key to Jim, and the first months rent along with the security deposit to Susan. The conditions of the agreement (rent due monthly on the first, for example) are finalized onto the blockchain, meaning neither Jim nor Susan can alter what was agreed upon in that contract, since a copy of the immutable record exists across thousands of computers all over the globe. \n\nSimilar to a recurring monthly payment plan, Jim’s debit card is written into the contract as the payment source, and the contract is programmed to charge it on the last day of every month. Now, let’s say the lease began on January 1st, it is now January 31st, and rent is due. If Jim fails to meet the conditions of the contract (his card is declined), the smart lease could automatically apply a late fee, say 5% after 3 days of the missed payment. This would be programmed in to give Jim enough time to recharge his debit card. Because this agreement, including the payment processing, would be entirely recorded, in an unalterable way, on a public ledger, there would be no possibility of any contract dispute. Can you imagine ending all such landlord-tenant disputes prior to their occurrence?\n\n<center><h4>Conclusion</h4></center>\n\nMost cryptocurrency projects built on top of a blockchain have a degree of smart contract technology in them, since they are coded to serve an autonomous function. Implementations of smart contracts can be found in projects such as [Bitcoin](https://en.bitcoin.it/wiki/Contract) or Ethereum. Some implementations work well while others can be disastrous such as the [DAO hack](https://en.wikipedia.org/wiki/The_DAO_(organization)) that drained $50 million in Ethereum back in July, 2016. While Smart Contract technology still has a long way to go, it should be interesting to see how the technology evolves over the coming years.",
      "json_metadata": "{\"tags\":[\"blockchain\",\"cryptocurrency\",\"bitcoin\",\"steemit\",\"ethereum\"],\"links\":[\"http://www.fon.hum.uva.nl/rob/Courses/InformationInSpeech/CDROM/Literature/LOTwinterschool2006/szabo.best.vwh.net/smart_contracts_2.html\",\"https://en.bitcoin.it/wiki/Contract\",\"https://en.wikipedia.org/wiki/The_DAO_(organization)\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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      "parent_permlink": "eos",
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      "permlink": "part-3-dpos",
      "title": "Part 3: DPoS",
      "body": "@@ -3015,15 +3015,17 @@\n ext \n-trusted\n+available\n  blo\n@@ -3037,17 +3037,19 @@\n oducer. \n-B\n+A b\n lock pro\n@@ -3057,187 +3057,98 @@\n ucer\n-s attempting to validate fraudulent transactions within the network would be detected and removed \n+ would also not be able to sign an invalid block wi\n th\n-r\n ou\n-gh the use of cryptographic evidence left behind, or they would be voted out\n+t confirmation from other delegates\n . %0A%0A\n",
      "json_metadata": "{\"tags\":[\"eos\",\"blockchain\",\"bitshares\",\"bitcoin\",\"cryptocurrency\"],\"image\":[\"https://steemitimages.com/DQmRPfoTdVMFN1iLsC9cuN1AFKxC8K8xoBEZEGNyuyQapwE/DPOS-infographic.jpg\"],\"links\":[\"https://bitcointalk.org/index.php?topic=532.msg6269#msg6269\",\"https://bitshares.org/\",\"http://docs.bitshares.org/bitshares/history.html#the-history-of-bitshares-part-two\",\"http://docs.bitshares.org/bitshares/dpos.html#\",\"http://docs.bitshares.org/bitshares/dpos.html#role-of-delegates\",\"https://blocktivity.info/\",\"http://bytemaster.github.io/bitshares/2014/12/30/BitShares-Fee-Schedule-Explained/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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      "parent_permlink": "eos",
      "author": "tculia",
      "permlink": "part-3-dpos",
      "title": "Part 3: DPoS",
      "body": "@@ -4126,16 +4126,24 @@\n  another\n+ instead\n .%0A%0A!%5BDPO\n",
      "json_metadata": "{\"tags\":[\"eos\",\"blockchain\",\"bitshares\",\"bitcoin\",\"cryptocurrency\"],\"image\":[\"https://steemitimages.com/DQmRPfoTdVMFN1iLsC9cuN1AFKxC8K8xoBEZEGNyuyQapwE/DPOS-infographic.jpg\"],\"links\":[\"https://bitcointalk.org/index.php?topic=532.msg6269#msg6269\",\"https://bitshares.org/\",\"http://docs.bitshares.org/bitshares/history.html#the-history-of-bitshares-part-two\",\"http://docs.bitshares.org/bitshares/dpos.html#\",\"http://docs.bitshares.org/bitshares/dpos.html#role-of-delegates\",\"https://blocktivity.info/\",\"http://bytemaster.github.io/bitshares/2014/12/30/BitShares-Fee-Schedule-Explained/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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      "parent_permlink": "eos",
      "author": "tculia",
      "permlink": "part-3-dpos",
      "title": "Part 3: DPoS",
      "body": "@@ -1685,30 +1685,16 @@\n  uses a \n-decentralized \n voting p\n",
      "json_metadata": "{\"tags\":[\"eos\",\"blockchain\",\"bitshares\",\"bitcoin\",\"cryptocurrency\"],\"image\":[\"https://steemitimages.com/DQmRPfoTdVMFN1iLsC9cuN1AFKxC8K8xoBEZEGNyuyQapwE/DPOS-infographic.jpg\"],\"links\":[\"https://bitcointalk.org/index.php?topic=532.msg6269#msg6269\",\"https://bitshares.org/\",\"http://docs.bitshares.org/bitshares/history.html#the-history-of-bitshares-part-two\",\"http://docs.bitshares.org/bitshares/dpos.html#\",\"http://docs.bitshares.org/bitshares/dpos.html#role-of-delegates\",\"https://blocktivity.info/\",\"http://bytemaster.github.io/bitshares/2014/12/30/BitShares-Fee-Schedule-Explained/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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{
  "trx_id": "35fb92de79543a2e495f4dba64bab44e7ff649aa",
  "block": 20111155,
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  "timestamp": "2018-02-23T03:56:30",
  "op": [
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      "parent_permlink": "eos",
      "author": "tculia",
      "permlink": "part-3-dpos",
      "title": "Part 3: DPoS",
      "body": "<h3>“Besides, 10 minutes is too long to verify that payment is good. [It needs to be as fast as swiping a credit card is today”](https://bitcointalk.org/index.php?topic=532.msg6269#msg6269) - Dan Larimer </h3>  \n\nDan Larimer, the creator of Both Bitshares and Steem, believed that Bitcoin’s design was inefficient and costly and that if it wasn’t able to handle VISA-like transactions, then it would be very difficult to achieve mass adoption. \n\nA few years later, Dan Larimer successfully created the first-ever decentralized exchange, now considered to be the gold standard of decentralized exchanges, [Bitshares](https://bitshares.org/). Initially, he introduced Bitshares ProtoShares, which was an upgradable Bitcoin clone intended to encourage early adopters to participate in the mining and trading of the tokens. The first Protoshares block was mined on [November 5th, 2013](http://docs.bitshares.org/bitshares/history.html#the-history-of-bitshares-part-two). \n\nIt didn’t take long for Larimer to realize that the concept of mining was inherently flawed. He claimed that mining would eventually lead to a centralization of hashing (Required to mine blocks) power within the network, especially in places that offered cheap electricity. He also believed that the barrier to entry was too high for the average individual wanting to mine, since the resources required were too costly. This led to the introduction of a new method for securing the Bitshares network, referred to as [Delegated Proof-of-Stake](http://docs.bitshares.org/bitshares/dpos.html#).\n\n<center><h3>The Beginning</h3></center>\n\nDan Larimer revealed Delegated Proof-of-Stake (DPoS) on November 30th, 2013. DPoS uses a decentralized voting process that involves [Delegates](http://docs.bitshares.org/bitshares/dpos.html#role-of-delegates). These delegates are put in place by stakeholders to validate network transactions, in other words, produce blocks. Participation in block production is free, removing the need for the overhead costs found in Bitcoin’s Proof-of-Work (mining) model. All a participant would need is a computer, the necessary stake, and a popular vote from the stakeholders within the network. \n\n\n<center><h3>Can it scale?</h3></center>\n\nDPoS is known for being able to scale transactions better than the traditional Proof-of-Stake and Proof-of-Work models. Bitshares averages 3,300 transactions per second, [making it one of fastest performing blockchains to exist](https://blocktivity.info/). This is achieved by eliminating the need for verification from multiple nodes (delegates) to consider a transaction confirmed. The reduction in confirmation time allows for transactions to scale at rates that can compete with traditional clearinghouses such as VISA or Mastercard. \n\n\n\n\n\n<center><h3>Is it secure?</h3></center>\n\nDPoS has security measures to ensure that all block producers signing blocks are being honest. If a block producer failed to secure the next block, they would not get paid and their slot would be skipped to the next trusted block producer. Block producers attempting to validate fraudulent transactions within the network would be detected and removed through the use of cryptographic evidence left behind, or they would be voted out. \n\nAs an added security layer, DPoS blocks can’t be validated without first including the hash (signature) of the previous block. This makes it difficult for bad actors to manipulate block production, since it would require them to have the original hash of every block produced. Under the DPoS model, the longest chain is the original chain. This means it is nearly impossible for a bad actor to replicate an alternative chain that is just as long, and that deviates from the original chain.  \n\nLastly, all fees go into a fund which is [distributed among delegates](http://bytemaster.github.io/bitshares/2014/12/30/BitShares-Fee-Schedule-Explained/) who successfully secure the network. Each block producer is entitled to a percentage of the payout at the end of the payment round. Rather than competing with miners worldwide, this method encourages block producers to co-operate with one another.\n\n![DPOS-infographic.jpg](https://steemitimages.com/DQmRPfoTdVMFN1iLsC9cuN1AFKxC8K8xoBEZEGNyuyQapwE/DPOS-infographic.jpg)\n\n<center><h3>Governance</h3></center>\n\nThe intention of this model is to place stakeholders in complete control of the network, since they have the most to lose. This democratic approach encourages network participation for the overall good of the community. By allowing everyone to have a say, we achieve the true decentralization that is expected from the Bitcoin network.\n\nIn the next post, I will be diving into what Smart Contracts are and how they are useful to businesses seeking to build on top of the blockchain.  \n\n**_Note: The intention of this series is to simplify Blockchain technology for those who are new to this market. I will do my best to avoid lengthy and super technical details that create confusion. I hope that I am able to help, so feel free to chat me up. I also want to encourage blockchain enthusiasts or lovers of any kind who have suggestions on my descriptions to help me edit this post. I can only hope these posts will encourage others to do their own research before investing in this space._**\n\n<center><h2>Please don't forget to do your own research!</h2></center>",
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  "timestamp": "2018-02-21T23:29:15",
  "op": [
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      "author": "tculia",
      "permlink": "2lvdbc-can-ethereum-keep-up",
      "sbd_payout": "0.186 SBD",
      "steem_payout": "0.000 STEEM",
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      "body": "<h3>“Besides, 10 minutes is too long to verify that payment is good. [It needs to be as fast as swiping a credit card is today”](https://bitcointalk.org/index.php?topic=532.msg6269#msg6269) - Dan Larimer </h3>  \n\nDan Larimer, the creator of Both Bitshares and Steem, believed that Bitcoin’s design was inefficient and costly and that if it wasn’t able to handle VISA-like transactions, then it would be very difficult to achieve mass adoption. \n\nA few years later, Dan Larimer successfully created the first-ever decentralized exchange, now considered to be the gold standard of decentralized exchanges, [Bitshares](https://bitshares.org/). Initially, he introduced Bitshares ProtoShares, which was an upgradable Bitcoin clone intended to encourage early adopters to participate in the mining and trading of the tokens. The first Protoshares block was mined on [November 5th, 2013](http://docs.bitshares.org/bitshares/history.html#the-history-of-bitshares-part-two). \n\nIt didn’t take long for Larimer to realize that the concept of mining was inherently flawed. He claimed that mining would eventually lead to a centralization of hashing (Required to mine blocks) power within the network, especially in places that offered cheap electricity. He also believed that the barrier to entry was too high for the average individual wanting to mine, since the resources required were too costly. This led to the introduction of a new method for securing the Bitshares network, referred to as [Delegated Proof-of-Stake](http://docs.bitshares.org/bitshares/dpos.html#).\n\n<center><h3>The Beginning</h3></center>\n\nDan Larimer revealed Delegated Proof-of-Stake (DPoS) on November 30th, 2013. DPoS uses a decentralized voting process that involves [Delegates](http://docs.bitshares.org/bitshares/dpos.html#role-of-delegates). These delegates are put in place by stakeholders to validate network transactions, in other words, produce blocks. Participation in block production is free, removing the need for the overhead costs found in Bitcoin’s Proof-of-Work (mining) model. All a participant would need is a computer, the necessary stake, and a popular vote from the stakeholders within the network. \n\n\n<center><h3>Can it scale?</h3></center>\n\nDPoS is known for being able to scale transactions better than the traditional Proof-of-Stake and Proof-of-Work models. Bitshares averages 3,300 transactions per second, [making it one of fastest performing blockchains to exist](https://blocktivity.info/). This is achieved by eliminating the need for verification from multiple nodes (delegates) to consider a transaction confirmed. The reduction in confirmation time allows for transactions to scale at rates that can compete with traditional clearinghouses such as VISA or Mastercard. \n\n\n\n\n\n<center><h3>Is it secure?</h3></center>\n\nDPoS has security measures to ensure that all block producers signing blocks are being honest. If a block producer failed to secure the next block, they would not get paid and their slot would be skipped to the next trusted block producer. Block producers attempting to validate fraudulent transactions within the network would be detected and removed through the use of cryptographic evidence left behind, or they would be voted out. \n\nAs an added security layer, DPoS blocks can’t be validated without first including the hash (signature) of the previous block. This makes it difficult for bad actors to manipulate block production, since it would require them to have the original hash of every block produced. Under the DPoS model, the longest chain is the original chain. This means it is nearly impossible for a bad actor to replicate an alternative chain that is just as long, and that deviates from the original chain.  \n\nLastly, all fees go into a fund which is [distributed among delegates](http://bytemaster.github.io/bitshares/2014/12/30/BitShares-Fee-Schedule-Explained/) who successfully secure the network. Each block producer is entitled to a percentage of the payout at the end of the payment round. Rather than competing with miners worldwide, this method encourages block producers to co-operate with one another.\n\n![DPOS-infographic.jpg](https://steemitimages.com/DQmRPfoTdVMFN1iLsC9cuN1AFKxC8K8xoBEZEGNyuyQapwE/DPOS-infographic.jpg)\n\n<center><h3>Governance</h3></center>\n\nThe intention of this model is to place stakeholders in complete control of the network, since they have the most to lose. This democratic approach encourages network participation for the overall good of the community. By allowing everyone to have a say, we achieve the true decentralization that is expected from the Bitcoin network.\n\nIn the next post, I will be diving into what Smart Contracts are and how they are useful to businesses seeking to build on top of the blockchain.  \n\n**_Note: The intention of this series is to simplify Blockchain technology for those who are new to this market. I will do my best to avoid lengthy and super technical details that create confusion. I hope that I am able to help, so feel free to chat me up. I also want to encourage blockchain enthusiasts or lovers of any kind who have suggestions on my descriptions to help me edit this post. I can only hope these posts will encourage others to do their own research before investing in this space._**\n\n<center><h2>Please don't forget to do your own research!</h2></center>",
      "json_metadata": "{\"tags\":[\"eos\",\"blockchain\",\"bitshares\",\"bitcoin\",\"cryptocurrency\"],\"image\":[\"https://steemitimages.com/DQmRPfoTdVMFN1iLsC9cuN1AFKxC8K8xoBEZEGNyuyQapwE/DPOS-infographic.jpg\"],\"links\":[\"https://bitcointalk.org/index.php?topic=532.msg6269#msg6269\",\"https://bitshares.org/\",\"http://docs.bitshares.org/bitshares/history.html#the-history-of-bitshares-part-two\",\"http://docs.bitshares.org/bitshares/dpos.html#\",\"http://docs.bitshares.org/bitshares/dpos.html#role-of-delegates\",\"https://blocktivity.info/\",\"http://bytemaster.github.io/bitshares/2014/12/30/BitShares-Fee-Schedule-Explained/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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  "block": 20073480,
  "trx_in_block": 55,
  "op_in_trx": 0,
  "virtual_op": 0,
  "timestamp": "2018-02-21T20:32:24",
  "op": [
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    {
      "voter": "dr-waldo",
      "author": "tculia",
      "permlink": "part-3-dpos",
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{
  "trx_id": "c16576506aeeb64901aa9db6bc3a4145a8a73459",
  "block": 20073365,
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  "virtual_op": 0,
  "timestamp": "2018-02-21T20:26:39",
  "op": [
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      "voter": "rawn",
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