Proof of Work #41

Good morning from a plane somewhere over the Pacific, and welcome to PoW #41.

I spent the weekend at a camp themed around technological and social optimism, and there were a bunch of crypto people in attendance. Naturally we all ending up hanging out a lot and talking about the immediate future of digital assets. A few interesting takeaways:

  1. No one has a coherent bear thesis anymore, not even in the medium-term. I tend to discount heavily when people are sure something will happen in the long term but are unwilling to make a bet on the short or medium terms (related: when people say they love a given idea or vertical “even though I’m not confident in this particular company” I apply the same discount) , so it was interesting to see the sentiment so positive.

  2. The incentives around issuing a new coin vs. joining an existing project are slowly shifting towards joining, which seems to be market driven (since the markets are increasingly skeptical of new coins.) However a premium on new things in general still exists and we still have a long way to go before we stop seeing new coins for every random feature.

  3. Everything is still really experimental and in flux! Without, of course, naming any names, a lot of very big projects are changing big things about their monetary policy and protocols, new projects are figuring out diverse ways to distribute, etc. A frustrating corollary to this is that the valuations of new things are mostly still massively overvalued for things which are so experimental—we’d love to invest if the big risks were priced in, but they often aren’t yet. Valuations on the order of hundreds of millions are simply unjustified for unlaunched projects, with almost no exceptions. These cause weird incentive issues as well which I’ll discuss in a future issue.

Bitcoin & Friends

Daniel from Grin

Jimmy on Bitcoin

Aviv from Spacemesh

James from Vertcoin

  • No Updates.

JZ from Decred

  • Decred support has been merged into Trezor Core, this means Decred is now available on the Model T as well as the Trezor One. Work is continuing on adding hardware wallet support to Decrediton.

  • A few of the repos which received pull requests this week: dcrweb (5), dcrd (11), politeiagui (9), dcrdata (14). Final release of Politeia is imminent which will place the fate of the project treasury in the hands of stakeholders. It sounds ominous but it’s actually great.

  • If you plan on attending the Texas Bitcoin conference in Austin on Oct. 27-28 you may notice that Decred will be well represented as we’re holding a conference within the conference because we’re just meta like that. We’re going to have some really cool guest speakers which we’ll be announcing over the next week or so.

Zac from Stellar

Privacy coins

Izaak from Coda

  • Thanks to SHE256 for cohosting a great event where Coda Protocol engineer Deepthi Kumar described how we trustlessly distribute SNARK production across multiple nodes. Video is here and my brief talk from the event here.

  • We're accepting requests to join our alpha testnet. The signup link is here -- we'd love to get people involved trying things out so please get in touch.

  • Join us as we open source Coda on October 29th for our open-source launch party! It will be a great way to get to know more about Coda, the team behind it, and ways to get involved.

Paige & Zooko from Zcash

  • 2.0.1-rc is out the door and we're wrapping up testing for that for the full 2.0.1 release.

  • Updated privacy metrics (beta site)

  • Now offering premium support plans for Zcash ecosystem services.

  • Hiring an IT Operations Engineer.

  • More in the weekly forum update.

Diego and Riccardo from Monero

Smart contracting platforms

Evan from Ethereum

Myles from EOS

Zaki from Cosmos

Kate and Dean from Agoric

  • We had a blast meeting everyone during SF Blockchain Week. Mark Miller has uploaded a recording of his talk about secure smart contracts to the SF Cryptocurrency Devs which can be listened to here. Videos of our various talks from SFBW coming soon!

Financial Infrastructure

Antonio from dYdX

  • Working on adding Leveraged Ethereum to expo. LETH will be the next Margin Token, and will move at a multiple of the price of ETH.

  • Open sourced dydx.js - a typescript library to make it easier for developers to interact with the protocol.

  • Merged protocol support for OasisDEX (#369) and improved the lending proxy contract (#469).

  • Hiring for multiple engineering, design, and operations roles fulltime in SF.

Brendan and Nadav from Dharma

  • Putting finishing touches on a soon-to-be announced exciting set of features

  • Continued planning for #DeFi Summit - Prague, a full day event that will take place on October 29 at MeetFactory in Prague. If you'd like to lead a session, please apply here. If you'd like to attend, please apply here.

  • We’re hiring blockchain engineers and full stack engineers. Check out our open positions here.

Coulter from MakerDAO

  • Dai is now on Wanchain, becoming the first-ever cross-chain ERC20. This allows BTC to be exchanged for Dai in a fully decentralized manner, and potentially add Bitcoin as collateral for Multi-Collateral Dai! 

  • Maker is one of the launch integrations on the Delta portfolio app for their new feature, Delta Direct. If you use Delta, you can get Maker blog posts and updates pushed instantly to you. 

Phil from MARKET Protocol

  • We are feature complete on the Simulated Exchange! Check out the update during our last Engineering call demo.

  • In preparation for ChainLink integration, we released version 1.4.0 of our Solidity contracts. 

  • We published version 0.7.3 of MARKET.js. Please update your code as this will give you access to the latest contracts.

Robert from Compound

  • Improved interactions between dApp and Infura APIs; began implementation of dApp Voting to select the next Compound market.

  • Built a system for creating developer/public API keys and logging usage.

Layer two and interoperability

Tieshun from Namebase

  • Implemented testnet referral program so that Namebase users can earn testnet HNS to experiment with (along with bonus rewards!). We’ll release this publicly once Handshake releases testnet3 which is built on sha3. Users who sign up at will be the first to get access.

Paul from Veil

  • We built and launched the first version of our explorer for all Augur markets. Ultimately, Veil will support all Augur markets, and this is a first step towards that goal.

  • We added support for binary (yes/no) Augur markets. Veil's alpha thus far has included just two products—Bitcoin futures and gas price futures, both implemented as Augur scalar markets. Supporting binary markets will let us list many more markets.

  • We made changes to improve usability of our consumer-friendly market order UI that we launched last week. Sign up here to try out the alpha.

  • Our team gave a short presentation and demo at the 0x v2 launch meetup.

Tom from 0x

  • No Updates.

Janine from Liquidity.Network

Dong Mo from Celer

  • We have released our first production-ready Testnet Centauri (not a black window, something you can use TODAY and build on TODAY).

  • We have released our cWallet as a gateway to Celer Network (find the Android version here). You can send instant transactions on testnet and play some super fun board games with off-chain ETH with it! 

  • SDK can be accessed here and the SDK tutorial can be accessed here.

  • We participated in ETHSanfrancisco and had 4 teams build on top of Celer. It is so amazing to see all these application on the first time we release our SDK and testnet! 

  • Catch up and listen to our State Channel Researchers Calls #4 and #5. (Welcome Raiden and Funfair!)

  • Check out “The Future of Layer 2” meetup here and hear CESC talk about "The role of crypto economics and mechanism design in layer 2 networks" here.

Alexandra from Parity Technologies

Application infrastructure

Doug from Livepeer

  • Development continued on a Probabilistic Micropayments implementation, as a scaling solution to mitigate on chain costs and congestion for reconciling payments in the network.

  • Pull request merged into a fork of ENS to allow Livepeer nodes to register on chain identities using the Ethereum Name Service.

  • produced an excellent Livepeer Staking Guide (pdf), complete with economic analysis and network overview.

Ryan from FOAM

  • Built new version of staking contracts and ERC-721 tests for Signaling, depositing tokens into a signal on the map now mints an NFT of that signal, which opens exciting possibilities in the protocol incentive model of signaling for radio hardware coverage.

  • First published results of the FOAM radio hardware testing by our partners "How To Solve The Hardest LPWAN Geolocation Problems": "Low-cost LoRa gateways can implement an ensemble-averaged time measurement system, with better than 11 nanosecond precision. In other words, less than four meter precision, which is better (yes, only in the lab so far) than GPS and without a centralized management authority."

  • Published Reading List: The Path to Web3.0 for Location Data, Web2.0 Geospatial Vulnerabilities Highlighted

David from Sia

  • 3 Nebulous repos were updated. 10 merge requests were accepted into the Sia project.

  • The team was very active this week with over 90 commits into the Sia repository. Most commits support upcoming features expected in Sia version 1.4.0 but a number of bug fixes, and testing improvements were also added this week.

  • One feature I’m excited about is the “Host whitelist blacklist” merge request that msevey has been working on. This feature will enable renters to select hosts to use, or avoid, and is expected in Sia 1.4.0.

  • Another big upcoming change that saw a lot of development this week is the “Add allowance to the hostWeight function and make contractor update it” merge request. This change means that the amount of collateral a host posts will weigh into the hosts score or weight starting in version 1.4.0. This is good because it means hosts that post too much, or too little collateral will be penalized, and are less likely to be picked by renters.


Martin from Tezos

Ari from Decentraland

  • Last week, we launched version 2.0 of the Decentraland Marketplace, which supports buying and selling LAND Estates.

  • We’ve also begun testing our new communications protocol, we’re working on an OpenSea integration for NFT support, and we’re continuing to improve the Entity-Component-System for designing and building more complex interactive experiences.

  • Finally, the mobile interface now includes a joystick!

Bowen from Hydro/

Sam from OpenBazaar

  • The wallet user interface on the desktop client is nearly completed and testing has begun. There are a few other areas in the client where the multiwallet changes will impact (settings, currency selector, listing creation), but the wallet UI itself it the most substantial piece.

  • On the server and the mobile side bug fixes resulting from the multiwallet changes continue.

Martín from Zeppelin