Posts tagged cryptocurrency

Building a Decentralized Value Exchange into a Decentralized VPN

Medium, Mysterium, VPN, decentralization, ETH, cryptocurrency, anarchocapitalism, ancap, network infrastructure

In a world which is rapidly being decentralized — there also needs to be a decentralized way to ensure adequate payment for those who provide us with the infrastructure. We have found a way to get there and now we will present an evolutionary path towards it. For the last month we have been examining existing technology and its potential, to perform POC (Proof Of Concept) experiments — with the goal of understanding how to build a decentralized VPN service and how to provide monetization to people running this network — VPN node operators.


A New Cryptocurrency For Coordinating Artificial Intelligence on Numerai

Medium, Numerai, cryptocurrency, finance, economics, network effects, AI, capital allocation

Nearly all of the most valuable companies throughout history were valuable through their strong network effects. If there is one motif in American economic history it is network effects. Every railroad made the railroad network more valuable, every telephone made the telephone network more valuable, and every Internet user made the Internet network more valuable. But no hedge fund has ever harnessed network effects. Negative network effects are too pervasive in finance, and they are the reason that there is no one hedge fund monopoly managing all the money in the world. For perspective, Bridgewater, the biggest hedge fund in the world, manages less than 1% of the total actively managed money. Facebook, on the other hand, with its powerful network effects, has a 70% market share in social networking. The most valuable hedge fund in the 21st century will be the first hedge fund to bring network effects to capital allocation.


In One Month, Everyone In Iceland Will Own Cryptocurrency

iceland, cryptocurrency, bitcoin, auroracoin, economics

The cryptocurrency craze spun into a new realm of ridiculous with Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins that sprung up to ride the Bitcoin wave. But the latest altcoin to enter the market, Auroracoin, wants to take the futurist trend back to its cryptoanarchist roots. The altcoin was designed specifically for Iceland, and the creator plans to give every citizen of the Nordic country a digital handful of Auroracoins to kickstart their use. Auroracoin is the brainchild of cryptocurrency enthusiast Baldur Friggjar Odinsson, and he’ll be the one distributing pre-mined coins to the entire population of Iceland at midnight on March 25 in a countrywide “airdrop.” Each Icelandic citizen—all 330,000 of them—will receive 31.8 AUC through a digital transaction. Citizens all have a national ID number available through a public database, which will be used to verify their identity.

Zerocoin: making Bitcoin anonymous

zerocoin, bitcoin, cryptocurrency, economics, cryptoanarchy, anonymity, crypto

The key idea in Zerocoin is that each coin commits to (read: encrypts) a random serial number. These coins are easy to create – all you need to do is pick the serial number and run a fast commitment algorithm to wrap this up in a coin. The commitment works like encryption, in that the resulting coin completely hides the serial number . At the same time this coin ‘binds’ you to the number you’ve chosen. The serial number is secret, and it stays with you.