This is the second post of our Spreading Crypto series where we take a deep dive into what it’ll take to help this technology reach broader adoption.submitted by mickhagen to genesisblockhq [link] [comments]
Mick exploring the state of apps in crypto
Our previous post explored the history of protocols and how they only become widely adopted when a compelling application makes them more accessible and easier to use.
Crypto will be no different. Blockchain technology today is mostly all low-level protocols. As with the numerous protocols that came before, these new, decentralized protocols need killer applications.
So, how’s that going? Where is crypto’s killer application? What’s the state of application development within our industry? Today we’ll try to answer those questions. We’ll also take a close look at decentralized applications — as that’s where a lot of the developer energy and focus currently is. Let’s dive in.
Popular Crypto ApplicationsThe most popular crypto applications today are exchanges like Coinbase and Binance — each with tens of millions of users. Other popular crypto exchanges include Kraken, Bitstamp, Gemini, and Bitfinex. In recent years, new derivatives platforms have emerged like FTX and Deribit.
Beyond the fact that the most popular crypto applications are all used for speculation, another common thread is that they are all centralized.A centralized application means that ultimate power and control rests with a centralized party (the company who built it). For example, if Coinbase or Binance wants to block you from withdrawing your funds for whatever reason (maybe for suspicious activity or fraud), they can do that. They have control of their servers so they have control of your funds.
Most popular applications that we all use daily are centralized (Netflix, Facebook, Youtube, etc). That’s the standard for modern, world-class applications today.
Decentralized ApplicationsEven though the most popular crypto applications are all centralized, most of the developer energy and focus in our industry is with decentralized applications (dApps) and non-custodial products.
These are products where only the user can touch or move funds. Not even the company or developer who built the application can access or control or stop funds from being moved. Only the user has control.
These applications allow users to truly become their own bank and have absolute control of their money.They also allow users to perform blockchain transactions and interact directly with decentralized protocols. Some of the most popular non-custodial products include Ledger, MetaMask, and MyCrypto (#ProudInvestor).
While the benefits of this type of application are obvious (user has full control of their funds), it comes with a lot of tradeoffs. We will cover that later in this post.
Libertarianism + CryptoIf the most popular applications tend to be centralized (inside and out of crypto), why is so much of our community focused on building decentralized applications (dApps)? For the casual observer, that’s a reasonable, valid question.
“Not your keys, not your coins.”This meme is endlessly repeated among longtime crypto hodlers. If you’re not in complete control of your crypto (i.e. using non-custodial wallets or dApps), then it’s not really your crypto.
Engrained in the early culture of Bitcoin has always been a strong distrust for centralized authority and power — including the too-big-to-fail government-backed financial system. In the midst of the Financial Crisis, Satoshi Nakamoto included this headline in Bitcoin’s genesis block: “Chancellor on brink of second bailout for banks.” There has always been a close connection between libertarianism & cryptocurrency.
So it’s no surprise that much of the crypto developer community is spending their time building applications that are non-custodial or decentralized. It’s part of the DNA, the soul, the essence of our community.
Personal ExperienceWhen I was at Mainframe, we built Mainframe OS — a platform that developers use to build and launch decentralized applications (dApps). I’m deeply familiar with what’s possible and what’s not in the world of dApps. I have the battle scars and gray hair to prove it. We’ve hosted panels around the various challenges. We’ve even produced videos poking fun at how complicated it is for end-users to interact with.
After having spent three years in the trenches of this non-custodial world, I no longer believe that decentralized applications are capable of bringing crypto to the masses.While I totally understand and appreciate the ethos of self-sovereignty, independence, and liberty… I think it’s a terrible mistake that as a community we are spending most of our time in this area of application development. Decentralized applications will not take crypto to the masses.
Overwhelming FrictionThe user friction that comes with decentralized applications is just too overwhelming. Let’s go through a few of the bigger points:
What Our Industry Has WrongDecentralized applications will always have a place in the market — especially among the most hardcore crypto people and parts of the world where these tools are essential. I’m personally an active user of many non-custodial products. I’m a blockchain early-adopter, I like to hold my own money, and I’m very forgiving of suboptimal UX.
However, I’m not afraid to say the poop stinks. Decentralized applications simply cannot produce the type of product experience that mainstream consumers expect.If the goal is growth and adoption, as a community I believe we’re barking up the wrong tree. We are trying to make fetch happen. It isn’t gonna happen. Our Netscape Moment is unlikely to arrive as long as we’re focused on decentralized applications.
\"Mean Girls\" movie
There’s a reason why the most popular consumer applications are centralized (Spotify, Amazon, Instagram, etc). There’s a reason why the most popular crypto applications are centralized (Coinbase, Binance, etc).
The frameworks, tooling, infrastructure, and services to support these modern, centralized applications are mature and well-established. It’s easier to build apps that are fast & performant. It’s easier to launch apps that are convenient and on all form-factors (especially mobile). It’s easier to distribute and promote via all the major app store channels (iOS/Android). It’s easier to patch, update, and upgrade. It’s easier to experiment and iterate.
It’s easier to design, build, and launch a world-class application when it is centralized! It is why we’ve chosen this path for Genesis Block.---
Other Ways to Consume This Content:
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)
Jameson is the CTO and co-founder of Casa, a multisig key security solution. Jameson dropped the following knowledge on us: Jameson dropped the following knowledge on us: " The first step to securing your crypto assets is to take possession of your own private keys and withdraw your money from trusted third-party custodians, such as the exchange from where you purchased it. Cryptocurrency News & Your Guide to the Blockchain Economy. All content on Blockonomi.com is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. 1. Schritt: Bitcoin-Wallet mit Private Key-Kontrolle. Es ist wichtig, dass die Private Keys der eigenen Bitcoin kontrolliert werden. Hierfür muss unbedingt eine Bitcoin Wallet gewählt werden, mit der die Private Keys unter eigener Kontrolle sind. Perfekt sind Hardware Wallets wie die Ledger Nano S-Wallet oder die Trezor Wallet. Leading crypto exchange, Binance announced the listing of VIDT Datalink to its Innovation Zone, thus permitting its certain users to trade newer cryptocurrency token offerings directly from their Binance account, and also protecting less suited investors from being exposed to the potential risks that come with trading them, particularly the new decentralized finance [DeFi] tokens. Private Key Ownership Provides Financial Sovereignty . Every day someone new is learning about the fantastic benefits of bitcoin and cryptocurrency solutions. Many people will have acquired their ... Edge Wallet is a non-custodial, private, secure, and easy-to-use multi-currency wallet. Edge’s core focus is the development of technology, which makes the responsibility of managing private keys familiar, easy, and secure for the end user. After downloading Edge, users are prompted to create an account with their own unique username and password. Keys are generated and encrypted on the end ... Your Bitcoin Private Key is a unique secret number that only you know. It can be encoded in a number of different formats. Below we show the Bitcoin Address and Public Key that corresponds to your Private Key as well as your Private Key in the most popular encoding formats (WIF, WIFC, HEX, B64). Bitcoin v0.6+ stores public keys in compressed format. The client now also supports import and ... If you hand-key a Bitcoin invoice address, and each character is not transcribed exactly - including capitalization - the incorrect invoice address will most likely be rejected by the Bitcoin software. You will have to check your entry and try again. The probability that a mistyped invoice is accepted as being valid is 1 in 2 32, that is, approximately 1 in 4.29 billion. New-style bech32 ... If you are using Cold storage, a Paper wallet or generating vanity addresses you may have a need to import a Private key. Since Bitcoin-QT/bitcoind v0.6.0, you can import private keys using built-in RPC command importprivkey. Before v0.6.0, you needed to rely on third-party wallet.dat manipulation tool such as Pywallet. This article describes how to import a private key through the RPC API of ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH.
[index]          
Free soft download https://bit.ly/2tBZtwX auto webtrader autotrader web autotrader web binary multiprofit hack software key generator hack generator hack bot binary bot autotrader ad hack ad hack ... This new Software Bypass Bitcoin Private Key Recover funds and directs them to your wallet directly. NEW UPDATE Private Key Software 2020 Download Soft... You only need to put a BITCOIN ADDRESS on the tab and the program will find the Private Key of it. It could run for a few hours, don't worry, it depends on your CPU and GPU. Let's see how it works! This new Software Bypass Bitcoin Private Key Recover funds and directs them to your wallet directly. NEW UPDATE Private Key Software 2020 Download Software : https://bit.ly/2VFLiCi Contact us ... BITCOIN PRIVATE KEY HACK TOOL 2020 #Blockchain hello, guys, I am here with the #private Key #Hacking tool #BTC you can find private key of BTC address by using the software. Download tool: https ... Public and private keys - how to use the former one on your daily basis and how to protect the latter against access by an unauthorized persons. Security precautions in cryptocurrency world are a ... This new Software Bypass Bitcoin Private Key Recover funds and directs them to your wallet directly. NEW UPDATE Private Key Software 2020 Download Soft... This new Software Bypass Bitcoin Private Key Recover funds and directs them to your wallet directly. NEW UPDATE Private Key Software 2020 Download Soft... Binance considered rolling back the Bitcoin chain in order to recover stolen funds. How would that have happened? How likely is it that such a recovery method would be executed in the future? This new Software Bypass Bitcoin Private Key Recover funds and directs them to your wallet directly. NEW UPDATE Private Key Software 2020 Download Software : https://bit.ly/2VFLiCi Contact us ...