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As many of new public chains became available on mainnet this year and openly compete with blockchain product like Ethereum , 2018 has been known as ‘the first year of public chains’. Public chains have been drawing lots of attention in blockchain markets. DBXChain might be a main competitor to Ethereum in the near future.
DBXChain, released by an internationally well-known public chain research team named DBX Foundation, is a value-based ecosystem of data based upon blockchain. This new value-based ecosystem is a decentralized data community that provides a platform for users to explore and exchange data. It provides a safe data exchange process and users are able to own their data rights. This new ownership with data is based upon blockchain technology.
Original DDPoS optimizes the consensus mechanism of blockchain
DDPoS is a new consensus mechanism that is created by DBXChain for the first time in the world. It helps resolve oligarchy and security issues from DPoS consensus mechanism by EOS. As everyone knows, DPoS consensus mechanism is similar to a shareholding system and its problems are quite obvious: first, it has a low voting rate.
More than 90% shareholders never voted. It is because it takes time, energy and skills to vote, which are what most investors do not have. Additionally, there are many challenges dealing with bad nodes. If interfering nodes can’t be checked during a community election, it will put web security at risk.
Then, how does DDPoS help resolve security and oligarchy issues while keeping its capacity at the same level? DDPoS makes the whole node selection system “fluid” so that block producer becomes a role, not a node, and this role can be transferred to other candidate producers at any time.
With continuous data exchange at the bottom level of DBX public chain, the coupling level between a node and the whole ecosystem will be counted into an election system using weighted algorithm. During this process, users can vote at anytime, and DBXChain thus helps dodge potential bribery and security issues under DPoS system.
Enhance TPS and improves consensus efficiency
Blockchain is a distributed system, and a main factor that affects TPS is networks. Due to a large amount of nodes in a blockchain network are scattered around the world, the web state of each node is uncontrollable and it is hard to set a requirement to their bandwidth or to make sure everyone have access to stable network. This kind of situation is absolutely a disaster to TPS.
Compared with underlying systems of “classic blockchain” such as Bitcoin and Ethereum, DBXChain is able to support more nodes– more than ten thousand nodes, and allows users to sign up and quit at anytime. The algorithm uses a voting system among potential block producers and cryptography techniques to improve algorithm’s efficiency. Similar to PBFT Prepare/ Commit, the use of aggregated signatures reduces the size of voting signature from nodes and therefore reduces the use of bandwidth. It also requires to exchange data twice for a block among all confirmed nodes. In additional to provide a good security, it efficiently improves consensus performance of BFT.
Building a win-win ecosystem base on big data
DBXChain has massive data, also many users and clients as resources for support, which make this program special. Many projects invested by Top Venture Capitals had ecological cooperation with DBX. Thus, DBX Chain is able to merge a large amount of support and resources from these projects, which is absolutely a good starting point.
As it shows, the consensus mechanism by DDPoS has a promising future. These well-known resources in China chose DBXChain because they all needed internet that not only had high capacities, but was also highly secure and was able to prevent manipulations and bribery. All these requirements were met by DBXChain. In fact, DBXChain will support many developed businesses, which already has a large volume of data on classical internet. These data will test the capacity of DBXChain internet and its security. It is also why the new consensus mechanism of DDPoS and its public chain can outperform Ethereum and EOS in terms of democratization and security.
DataGame benefits its participants
DataGame is a DApp for crowd-sourcing data collection , where DBX demonstrates capacities and feasibility of its public chain. Every data collector can launch a data collecting game using a certain amount of DBX coins in areas such as AI, purchases and IOTs. Owners of data can get rewards by participating in games. They can also search data needed with high accuracy and pay for a specific amount based upon data size.
DataGame has largely lowered prerequisites to participate for data owners, making more valuable and long-tail data available for sharing. Additionally, DataGame has also reduced costs to obtain data so that more users are able to achieve goals and get a brand new experience in data exchange in the blockchain world. As we can see, for DBX to build a new data infrastructure, the first step is to use DataGame.
Obviously, the third generation of big data ecosystem will be more common, but this area will eventually become the most competitive among blockchain tycoons. In the face of big rival, we are looking forward to seeing if Ethereum will still be a leader in the public chain competition.
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Leshi Internet, a video streaming service with a history of financial issues, is being questioned by a stock exchange over its move into crypto.
Source Credits: Coindesk View Full Article
Bitcoin prices bounce off weekly lows of $6,180 to hold support above $6,200
Japanese police have seized cryptocurrency belonging to a man with unpaid parking fines. The police explain that the revised fund settlement law enacted in April last year allows cryptocurrency to be seized like any other asset.
The Hyogo Prefectural Police traffic guidance division announced this week that it had seized cryptocurrency owned by a 59-year-old resident with multiple delinquent parking violation charges, local media reported. Hyogo is a prefecture in the Kansai region of the country’s main island, Honshu. Kobe, located west of Osaka and Kyoto, is the capital of the prefecture.
The Kobe Shimbun reported that about 5,000 yen (~US$44) worth of cryptocurrency was seized but the police did not reveal which crypto. Nikkei, on the other hand, reported that “there were 2 kinds” of cryptocurrencies “such as bitcoin deposited with an exchange that were seized.” The news outlet elaborated:
According to the prefectural police traffic guidance division, it is the first time in the country to seize virtual currency in relation to parking violations.
However, the crypto seized from the man’s account at an exchange currently does not cover the total amount owed to the cops. According to the Kobe Shimbun, he has failed to pay a total of 99,700 yen (~$885) in violation charges including four parking tickets issued between January 2014 and July 2016.
The news outlet further detailed that if payment is not received by the end of this month, which is the deadline for claiming seized property, the cryptocurrency will be cashed out at the current rate and paid to the prefectural police.
The man’s parking violations are considered “unattended vehicle.” The Kyoto Prefectural Police explained that the term means “a vehicle that is illegally parked, with its driver away from the car, and which cannot be started immediately. This is regardless of the length of parking time, or whether the vehicle engine is turned on or off, or whether the emergency flashing lights on or off.”
Usually, “Land, houses, automobiles, bank savings, salary, and life insurance payouts could be seized, based on the decision of the Public Safety Commission,” the police clarified.
However, in the case of the 59-year-old, the Hyogo Prefectural Police “did not know his place of work and [he] had no cash deposits or savings,” the publication conveyed. Citing that the revised fund settlement act that legalizes cryptocurrency as a means of payment enables the police to seize crypto assets, the news outlet elaborated:
According to the prefectural police, after [crypto] asset value was recognized by the revised fund settlement law enforced in April last year, it [cryptocurrency] was judged as an asset that can be seized.
The Hyogo Prefectural Police have been increasingly active in collecting unpaid fines and have seized small items including an automatic mahjong table, golf bags, figurines, and brand name goods, the Kobe Shimbun described. The division says that they will not allow violators “to escape since it will be unfair for the people who are paying [the fines].”
Editor’s Note: Nathalie Stucky contributed to this article.
What do you think of the Japanese police seizing crypto for unpaid fines? Let us know in the comments section below.
Images courtesy of Shutterstock and the Hyogo Prefectural Police.
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The post Japanese Police Seize Cryptocurrency for Parking Violations appeared first on Bitcoin News.
Billionaire Steven Cohen, once dubbed the “Hedge Fund King,” has reportedly invested in a crypto hedge fund.
Source Credits: Coindesk View Full Article