Blockchain Sydney Crypto Central Roundup
By Blockchain Sydney Crypto Central Roundup on Wednesday, February 5th, 2020
Features in QESP NewsletterVolume 32 , Issue 2 - ISSN 1325-2070
The Blockchain Sydney Crypto Central Roundup on February 5, 2020 featured an opening address by Bradley C Hughes, COO and Co-founder at Fractonium, who welcomed and introduced the Guest Speakers, and chaired the Q&A after each session.
In his opening overview, Bradley gave links to:
CryptoPanic – a news aggregator platform indicating impact on price and market for traders and cryptocurrency enthusiasts. Now includes Portfolio Tracker, Media Feed and Blogs.
CoinDesk – which provides Bitcoin & Blockchain News, Training Material, Research and Events (previous and upcoming)
Cryptocurrency News – News, Exclusives, Videos, Guides, Exchanges, Market Cap, and Price Tracker
The first Guest Speaker was Jonathon Miller – Managing Director Kraken Australia / Bit Trade.
San Francisco-based cryptocurrency exchange Kraken has expanded into Australia via the acquisition of Australia-based Bit Trade, one of the longest-running crypto companies in the country. The entire Bit Trade Australian team, led by Jonathon Miller, will join the American company, with Jonathon as Managing Director for Kraken in Australia.
Kraken will focus on being the premier crypto service in Australia with the best AUD liquidity, trading experience, and support for both institutional and retail clients. The acquisition also deepens the Kraken overall presence in the APAC region, and further bolsters its industry-leading over-the-counter (OTC ) trading operation.
The Kraken OTC Desk provides for large trades with private and personalized services. OTC trading takes place off the open Kraken exchange. The Kraken OTC Desk offers deeper liquidity and a private, more personalized service to institutions and high net-worth individuals needing to fill large orders that might be too disruptive if placed on open markets at the exchanges. The OTC desk provides execution and settlement services that are discreet, secure and ultra-competitive.
Kraken’s Account Management Service offers an extra layer of dedicated, one-on-one support for advanced clients, providing personalized white-glove account management.
Q: Does Kraken comply with Austrac AML (anti-money laundering) requirements?
A: The Kraken platform provides the highest standards of legal compliance. The Kraken team has decades of experience building security programs for the world’s top brands, investigating the largest consumer data breaches, developing security technology trusted by millions of businesses and discovering vulnerabilities in the technology used by billions of people every day.
Q: How does Kraken provide Proof of Stake/ Proof of Work?
A: In December 2019, Kraken launched a new, best-in-class staking service using Tezos, an open-source POS blockchain that utilizes a native crypto asset designed to provide secure, institutional-grade smart contracts that are robust enough to use in mission-critical environments (think: aerospace, nuclear, semiconductor industries).
Algorand was mentioned as an open, permissionless, pure proof-of-stake blockchain protocol.
Q: Is Kraken Hiring?
A: Yes. e.g. Product Manager, Trading Platform – Cryptowatch – Remote Full-time
Special Guest Speaker Ralf Weinand, GenerEOS
GenerEOS is a Sydney based social enterprise EOSIO blockchain consulting company whose purpose is to promote and support EOSIO technology and give back to charities.
The GenerEOS Mission is to re-engineer the way funds are distributed to charities, through the introduction of fully transparent smart contracts and DApps (which are similar to apps but run on decentralized peer-to-peer computer networks.) The GenerEOS EOS.IO platform brings a community together as a co-operative.
GenerEOS is launching the first EOS Voter Rewards Exchange, Genpool.io , the first EOS vote rewards exchange. Genpool.io will allow EOS investors to earn passive income while supporting network growth to maximise token value, and supporting quality Block Producers (BPs)
The Genpool platform is a zero barrier to entry free market ecosystem, connecting proxy owners with voters that are looking to support quality BPs while being rewarded with a percentage of the additional BP income.
On the Genpool platform anyone can start a rewards proxy or convert an existing proxy over to a rewards proxy in seconds.
GenerEOS is one of the Core Block Producers who will govern the WORBLI Decentralized Network
Q: How is GenerEOS tested?
A: In 2019 more and more side and sister chains of EOSIO have been launched. We have now implemented a universal solution to support all those and further side and sister chains in our eostoolkit.io. Currently, eostoolkit.io supports the EOS, Worbli, Telos, MeetOne and BOS Networks.
The GenerEOS eostoolkit was the first open source tool built by the community – for the community.
The MeetOne Developer service provides Developer Documentation, Blockchain Demos, Cloud based Block Producer and dApp Services. Our Developers are focused on building products and have successfully completed numerous applications deployments on the MEET.ONE sidechain
MEET.ONE News, 5 Feb 2020, notes that :
The GenerEOS team, one of the original BP candidates of EOS, just introduced a new platform that’s set to change proxies mechanics on the Mainnet.
Q: How does GenerEOS manage Smart Contracts?
A: GenerEOS will develop a smart contract and dApp that allows the public to vote on how to distribute the funds amongst a curated and vetted list of beneficiaries. We intend to distribute voting tokens – these tokens will have no financial value, we will give them away freely and they may be used to vote freely
Q: How does GenerEOS manage Proxies?
A: We have developed a smart-contract service with integrated backend to pull data from the list of voters from a certain proxy and send calculated rewards based on three different categories of token holders in the EOS community around voter rewards:
1) Token holders that want to maximize profit only looking at annual percentage rate (APR)
2) Token holders that like passive income but not at the cost of losing reliability and security.
3) Token holders who see that in the long-term their token value is higher if the rewards are reinvested to value-adding BPs.
We feel the majority will reside in category two