PRISM

WaveNodes_io

You can SPLIT the seed prase and don't keep all words in one location. Using the 3OutOf5 scheme you can split the seed phrase accross 5 (steel) papers, but you only need 3 to recover. You can split the actual unencrypted words, or you could use the encrypted Shamir method. What happens when you die? - Possible seed phrase backup and / or [inheritance](https://en.wikipedia.org/wiki/Inheritance) strategies In combination with the 3OutOf5 backup strategy you could spread risk and give a part of the key to: 1.  Yourself, your bank vault 2.  Your partner 3.  Your [notary](https://en.wikipedia.org/wiki/Notary) X.  Your lawyer, etc. This way you can spread the risk that one person or organization can abuse the seed phrase and steal your funds. In this example at least 3 people must collude to defraud you.  The key holders don’t need to have technical know-how. (In your last will and testament) you can give instructions on who or which (crypto inheritance services) company to contact to help manage the cryptocurrency. See these png images for a complete guide with printable template: [Seed-phrase-wallet-backup-template - File:Seed-phrase-wallet-backup-template.png - Wikimedia Commons](https://commons.wikimedia.org/wiki/File:Seed-phrase-wallet-backup-template.png#/media/File:Seed-phrase-wallet-backup-template.png)[Seed-phrase-wallet-backup-template-page2 - File:Creating-Atala PRISM-crypto wallet-seed phrase.png - Wikimedia Commons](https://commons.wikimedia.org/wiki/File:Creating-Atala_PRISM-crypto_wallet-seed_phrase.png#/media/File:Seed-phrase-wallet-backup-template-page2.png)[Seed-phrase-wallet-backup-template-page3 - File:Seed-phrase-wallet-backup-template.png - Wikimedia Commons](https://commons.wikimedia.org/wiki/File:Seed-phrase-wallet-backup-template.png#/media/File:Seed-phrase-wallet-backup-template-page3.png)

SleepCom

I'm eagerly awaiting the first CBDC hack/robbery. Snowden leaked Project PRISM. Assange told us the truth about the Iraq war. Kevin Mitnick taught us how to start a nuclear war by whistling into a pay phone. Eventually the system's weakness will show. Either someone within, or someone without, but the enemies of the bank are many! Bitcoin knows how to avoid this problem, but centralization has this one weakness they don't want you to know! Centipedes, in my CBDC? Check your wallet now, just click here!

Peach-555

>The Federal Reserve is a nonprofit entity. After its expenses are paid, any remaining profits are paid to the Department of the Treasury. The Department of the Treasury then uses that money to fund government spending. The dividends for the member banks are fixed 6% I don't think it makes much sense for me to try to break down all the spending and income by detail here but it's all public detailed https://www.federalreserve.gov/aboutthefed/audited-annual-financial-statements.htm But the gist is that the FED earns money on the debt it holds, and has expenses in paying interest to the banks that deposit their money at the FED, member banks gets 6% dividend. You can see what the FED is up to every year here https://www.federalreserve.gov/publications/annual-report.htm The FED does not decide what the inflation target should be, or the rate of unemployment, that's the Congress. The FED are also supposed to keep interest modest long term. Taxation happens on nominal dollars, which is one of many hidden taxes and indirectly a wealth tax through increasing capital gains tax. But again, the FED does not make tax laws and they don't decide the inflation target. Just to be clear, there are corruption and deception within government institutions which violate the constitution and don't report their illegal activity, like the PRISM which Edward Snowden informed the world about. I have looked into the FED, and so far I have not found any evidence, which does not mean it nothing happened, but there is no evidence of the FED doing anything they have not claim they are doing based on their mandate. >I'm still waiting for you to address my main point on the fiat banking system charging interest on every unit of currency in existence. I am not exactly sure what to address, it's all by government decree. I don't see any inherent evil in interest, or fiat, or debt base money, the banks ultimately don't decide the rules and regulations, though of course, like every other interest group in the US, they lobby. That's a general issue though, not a bank or central bank one. I am also not a FED enthusiast, I just think the blame put on the FED is misplaced. It's congress, not the fed, that sets the mandates and the powers that the FED has, the FED tries to operate within those restrictions with political independence. I have not seen any evidence that it's not the case. The way the FED is presented is as something that is outside of the control of the government, comprised of and owned by private entities without any accountability. Which is technically true, but when you dig down in the details you see that it's all by design for good reasons. The agency is made by the government but purposely designed to be independent to prevent it from being used by the political party in power, the owners, member banks, are private for the same reason, but they don't have any control or influence like a private owner would in a company. The buck stops at congress, not the FED. The banks, like all other capital, influence politicians through political donations and lobbying.

ThrowawayHoper

I doubt it personally. Conspiracies tend to come out with time due to deathbed confessions, whistleblowers, things of that nature. One example close to this in relevance is the NSA PRISM project - it took only around half a decade for it to be whistleblown. There’s a mathematical formula that predicts the time it’d take a conspiracy to come to light, based on the capabilities of the conspirators, the number of them, etc. A whole new alternative currency is so sensational, especially given BTC’s profile now, surely would come out as quickly if not quicker. But that’s just me speculating, who knows Anyone interested here’s an article on it. Has a cool table of the conspiracies the data it was developed on came from, timeframe for them to be leaked, etc. https://www.abc.net.au/listen/programs/sundayextra/the-incredible-unlikeliness-of-conspiracy-theories/7129400 If you don’t like links, searching “David Robert Grimes PLOS ONE conspiracy model” will get the paper, or “odds of moonlanding being kept secret” will get the articles.

SleepCom

I think that's gone, along with a censorship-free internet. The golden days are over, friend! Welcome Five Eyes, welcome PRISM, welcome Patriot Act, welcome New Normal. Welcome IMF, ECB, BOJ, PBOC. Welcome CBDCs, biometrics, social credit scores, payment apps, microtransactions, car subscription fees, convenience fees, waiting fees, expediting fees, taxes, stamps, papers please! There's no frontier left for guys like us. We are running for bitcoin like men of The West ran in 1949. We run towards economic freedom, but we are also running from the encroachment of a system that imprisons the daring, and the mischievous, and the crazy, and the outliers. Bitcoin was created by cypherpunks who were looking for an escape. The world will use it's name, but the meek shall inherit the bitcoin.

Wise-Application-144

Almost everything I see about CBDC is a hilariously naive freak-out based on the false assumption that our money isn't surveilled at the moment. Let's remind ourselves the current state of surveillance: * The revelations from Edward Snowden showed that state security agencies have had the capability (eg the PRISM system) to monitor all internet traffic since the mid-2000s. * Most of your transaction history is already logged by private companies (Amazon, Visa etc). * Your smartphone fuses data across apps, including your location, browsing habits, shopping history, IP address etc etc. * People happily hand over colossal amounts of personal data to social media companies, retail companies etc. Your cell location is legged every few seconds. If you have Maps installed on your phone, your position is logged every 7 seconds or so. * Your bank account and cards can be frozen and confisacted at any time (eg the Canadian Truckers, the Cyprus tax on balances in checking accounts). ​ Any surveillance and censorship that a CBDC would do can already be done. And what I find funny is how upset people get about the CBDC bogeyman, when they're already living in the surveilance state they fear. The government didn't *need* a CBDC to shut down the Canadian truckers. Yet people use it as an example of "this is what a CBDCs could do". Bitch, that's what tradfi DID do. Paste tense. ​ The CBDC surveillance state arrived back in the mid-2000s. People freaking out about CBDC are delusional. They think they're free right now.

guelug

Before spread missinformation it is better inform yourself! This update doesn’t make ledger a hotwallet since your seeds keep still in the ledger. You can say if you decided to opt in, then the seed goes to 3 servers.. then you can say its “hot wallet”, but even like that, you can add the passphrase security extra layer and then you are more covered… But this feature doesn’t extract anything, as a hardware wallet works, you would sign a transaction as every transaction in web3, just that would be an agreement to use that service, if you don’t sign the contract and won’t opt in, anything change for you! Everything keep working as it works now… They didn’t create the wheel, if you want learn about public key, and private key security you can opt in in the ATALA PRISM free course, to understand a little cryptography and SSID technology, and you can start imagine how it works…. the seeds are always there and it needs to be used to sign in everytransaction, the problem is people were thinking it disapear for good everything… Web3, functions signing, so anyone can extract or sign anything without access to the wallet, unblock it, and sign for you.. So its absolutly same as before from technical point of view. But it’s clear they need more education material, and let people know what they are buying and how it signs and create trust again! I’ll will be gathering the open source when they open and will publish spanish articles educating and explaining the tech in uakaritech.com. If anywone is not a developer and want me to translate and explain the code here just let me know and i will be pleaced to explain the code function here when it goes live!

iterativ

They already did. See PRISM and Snowden disclosures. Apple. Google, Microsoft, Yahoo were NSA partners. Also, many are not aware that USA doesn't recognize the right to privacy for non US citizens, so they don't even need a court order to get access to the private data of those. Even for US citizens, there is no mention to their Constitution about privacy, so it's via laws and those change accordingly.

Whole_Visible

Reddit has a hate boner for TikTok and cheers on this legislation even though it isn't even about TikTok. It isn't even about privacy. Compliance with this bill would put a huge burden on internet companies in the US to maintain proof that they do not in some way benefit a foreign enemy as determined by whomever is the current commerce secretary. Reddit spends a good 15 years working towards maintaining an open internet but now about 18 years later give up on all that because TikTok videos of people dancing and being at times a minor public nuisance make them mad enough to push for legalizing mass surveillance. Go from 10 years ago getting mad about PRISM/etc where the government was collecting everyones yahoo mail, hotmail, skype audio/video calls etc and passing them around. It was the first time many had ever hear the word, exabyte which they learned in reference to how much data was illegally being gathered by the US government. But at least at that point that data collected was so unlikely to pass in public courts that it'd only be usable in classified black boxed FISA court cases. Just continuous legislative attempts to make the decades of mass surveillance of American citizens legally usable by domestic agencies. American people think. WTF can the CCP do to you with your data while you live in the US. You probably don't even travel overseas that often because of the cost of travel/lodging/food as well as how much you're paid and whether you even have much or any paid time off. Then think of where you would even travel to. WTF are scared of of the CCP. Compare how many aircraft carriers the US has compared to China. Now compare those 2 carriers of China to a US one. Compare the size of the Chinese Air Force to the US Air Force and the kinds of aircraft in them. Now compare the size of the US Navy's air force with the Chinese air force. WTF are you guys so afraid of. Now look at incarceration rates in the US compared to the rest of the world. Now look at incarceration rates by states in the US. Look up how many people have felonies on their record in the US and look up the proportion by state. Look up rate of killings by police officers by country in the world. Look up rates of police brutality. You can just limit it to looking into rates of police shooting people by country. Why is so much in the US illegal? Why is it so easy to go to prison in the US? Why is police brutality so permissible in the US? Why are murders done police so permissible? How about rates of recidivism, rates of those that have spent time in jail or prison and doing so again in the future compared to other countries? You live in the United States. You are governed by the various levels of US Government. You don't even have to go far in history to find the US legal and enforcement system being used to attack peaceful citizens. Probably happened numerous times just this past 24hrs. If you need some no shit easy to be against of examples, there's the Fred Hampton assassination along with much of the other civil rights leaders of the 60s/70s. There's that whole period of history of slavery, jim crow, native american genocide, chinese exclusion act, japanese internment camps. How about all the eminent domain to build oil pipelines and how police are used to deal with those protesters. There's that whole cop city in Atlanta. American public really needs to reflect on whether their obsession with punishment has actually made them less likely to be harmed or more likely to be harmed.

coinfeeds-bot

tldr; Cardano founder Charles Hoskinson has said that non-fungible tokens (NFTs) are the most vibrant part of the Cardano ecosystem at the moment. NFTs were among the top Cardano projects with the highest engagement in the previous week. Hoskinson added that the team working on Atala PRISM, an identity and credential solution built on Cardano, was assisting on this endeavor. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

lj26ft

What privacy? We learned about PRISM like 10 years ago. You are in fantasy land if you think there's any privacy left. Go move to an off-grid cabin in the woods with no electricity, then you can have some privacy

Wise-Application-144

Yeah thanks. And yep, Snowden's leaks on programmes like [PRISM](https://en.wikipedia.org/wiki/PRISM) suggest that basically *all* internet traffic is monitored and stored. So if you have any sort of interaction with the internet from either a) a telecoms account in your name or b) signed into any apps linked to your identity (gmail, Facebook, Spotify), then it's trivial for the authorities to cross reference these and gather the entirety of your internet activity. ​ And yep, using a burner phone but then signing into your reddit account offers no protection - it just means your burner phone can be definitively linked to your identity. ​ Internet privacy is very black-and-white - you can't keep yourself partially anonymous - you either maintain a 100% perfect anonymous identity, or you cross-contaminate yourself and you're forever doxxed. Just one cross-reference (a post from a personal email) was enough to bring down Dread Priate Roberts and the Silk Road. ​ The mistake the anti-CBDC crowd make is to falely assume that their behaviour is currently anonymous, and CBDCs will remove that privacy. The reality is none of them have privacy right now anyway.

qonkk

No real product? - working PoS with liquid staking and the best staking experience in the industry - working DEXes - one of the largest NFT communities - innovative ISPOs for startups - ability to send multiple different assets in a single Tx - voting through Catalyst Fund - collateralising to mint native assets (iUSD) while earning staking rewards - sidechains coming (Midnight privacy chain) - real world use of Cardano DIDs (World Mobile), DIDs on Atala PRISM tested in Ethiopia right now - one of the most decentralised chains with over 3k stake pools - Hydra being tested by MuesliSwap already Etc, etc... Time to get out of your bubble.

StygianFuhrer

I’ve forgotten why I even follow this project that’s currently outside the top 1000, but I really like PRISM

vruum-master

If they want those comversations the US goverment probably has them indexed already somewhere. PRISM exists for that among other reasons.

D3R_B4R0N

Atala PRISM

resueman__

> You do know that stuff the government does is also "public knowledge" right? Sometimes. But sometimes people need to flee the country when they reveal surveillance programs like PRISM, to avoid being locked up for the rest of their lives.

WimbleWimble

Americans are pro-privacy only when it doesn't require effort. PRISM etc are still ongoing, and people just sighed and went on with their day. The NSA has improved its systems vastly since then and now has access to corporation CCTV, ATM data, Bank accounts, Internet histories, Social Media accounts and loads of other stuff. And most americans just dont care as long as the ice-cream machine is working at McDonalds.

alkbch

Most cryptos are not private at all. After the patriot act and PRISM, I think we can reasonably conclude the vast majority of the population does not care one bit about privacy.

RedWineBrie

Don't forget to take a look at Sensorium. It's a Galaxy with different worlds, built with AAA graphics. Among one that will be launched first is the world PRISM. A musical world, where the environment interacts with the music and senses. Multiple big artists signed contracts already, like David Guetta, Nina Kraviz, Charlotte de Witte, Armin van Buuren, Steve Aoki, and the lists just goes on and on. It's a global team with multiple offices, owned by a billionaire with tons of connections. Their partnerships are through the roof, for example with Epic Games (which is known for their Fortnite shows with top class artists). TIDAL and Roc Nation are both partners too, and both bought millions of tokens. They know the metaverse will be the future regarding the music industry and Sensorium is starting to look like the future market leader. Market cap of approx. 15 mln. Its insanely undervalued as the team has been delaying the launch due to market circumstances and more development, so the hype died down a bit. The circulating supply is pretty good, with the biggest part of the supply being permanently locked for in game purchases. The tokenomics are great too, with every in-game purchase leading to an instant token burn. It's all real. The metaverse of the future is here already. Feel free to ask any questions.

Woowoodyydoowoow

Imo considering the activity in the space it seems highly likely. It all hinges on active development in the ecosystem and stable coin revival. If these two things can happen expanding use cases beyond the gaming/betting space, like PRISM returning, it will be a tremendous step in the direction. Building up an ecosystem and widening of utility cases negotiations with CEX’s will become far more favorable for the LUNC community. Especially if the community uses the threat of abandoning CEX’s if not instated. The amount in supply will be chipped away by various burn mechanisms while early(post crash) investors sell. As investors come into the space the amount of large bag holders will decrease due to rising price

LiveBased-DieFree

Operation Northwoods, Tower 7, MKUltra, Project Bluebeam, early 20th century eugenics, contras, 1954 Coup of Guatemala, invasion of Iraq, NSA, PRISM program, FBI/CIA wiretapping citizens not under suspicion and bugging people’s Samsung TVs, 5 Eyes/7 Eyes. Federal Reserve. Shall I go on?

vruum-master

Then what about the Snowden PRISM case?

Optimal_Store

You’re trolling at this point. Yes. In Cardano’s case Ada (the token) pays for the work that Stake Pool Operators do which is maintain the network. On top of Cardano we have World Mobile that has a network of nodes and towers maintained by stakeholders (not centralized ISPs). We also have Atala PRISM which stores sensitive documents. A property developer called Empowa is building an application for distributed real estate ownership. These apps are all possible because there is an underlying network maintained by compensating maintainers

bogus83

LOL, you post this like PRISM isn't already a thing.

sap-a10

Why are you si downvoted lol. Also, I'm more worried about the US. PRISM wasn't a chinese program

No_Bodybuilder_1256

Its how Bitcoin works it the most well understood address mechanism in crypto. Cardano is fast and cheap for a decentralized platform, if you want to sacrifice decentralization you can go faster/cheaper. There are so many things building on Cardano, World Mobile bringing decentralized internet to remote areas of Africa and the USA, Dish launching a reward platform, DIDs on Atala PRISM, national student identity program in Ethiopia, NFT Bonds from AADA finance, verifiable tree planting with Veritree, Djed stablecoin from COTI, multiple games building, the list goes on.

sigmanaut_

Decentralisation, transparency and individual sovereignty are important goals to strive for; and applications will get increasingly complex (Believe they're also working on KYC via PRISM). Many applications you can replicate on a database, it's the decentralised/immutable aspect we're after. > Input Output built the Cardano blockchain (and Atala Prism) with an explicit emphasis on Africa. Its founder Charles Hoskinson expounds a “vision for economic identity and empowerment, to sustainability and financial inclusion across the African continent.” Beyond the education identification project, Hoskinson has expressed interest in Cardano facilitating agricultural supply chain tracking, DIDs for transport and healthcare, and telecoms technologies. > Hoskinson also hopes Cardano-based technologies will empower Africa. Sending, receiving, and borrowing money is crucial to many societal functions: employment, services, insurance, mortgages, and loans, among others. This is difficult in many parts of Africa. > Hoskinson says: “remittance transactions on average carry an 8-15% fee. When a person wants to borrow money, if it’s even possible, these microfinance transactions can have interest rates as high as 85%. The reason this exists is not because of avarice… it’s because of systems… The problem is that the legacy systems we have are fundamentally incompatible with total globalization.” > Decentralized technology, he believes, are the key to successful globalization and equality.

sigmanaut_

> Cardano has announced a new partnership with the Ethiopian Government to implement a national, blockchain-based student and teacher ID and attainment recording system to digitally verify grades, remotely monitor school performance. > This will be delivered this using an identity solution – Atala PRISM, built on Cardano, which will enable authorities to create tamper-proof records of educational performance across 3,500 schools, 5 million students, and 750,000 teachers to pinpoint the locations and causes of educational under-achievement and allocate educational resources effectively shares John O’Connor – African Operations Director IOHK. > This will provide all students with blockchain-verified digital qualifications to reduce fraudulent university and job applications, and increase social mobility by allowing employers to verify all applicants’ grades without third-party agencies.

Rollthewindowzup

PRISM is a solid solution already in use. This is what the world needs not a soul token lol.

SocietalEngineering

Atala PRISM on Cardano is doing this

662c63b7ccc16b8c

>I think the #1 thing this technology has going for it is the philosophy of the people who design it, and that’s why it’s important that the software engineers who put this stuff together should be intimately aware of how they could be making a golem out of clay. Yes exactly, which is why the ethos of the crypto project is very important. Atala PRISM from Cardano is designed to allow the ID holder to permission and depermission attributes. However it will always require a level of interest from the ID holder of any system, to actually prevent abuse by excercising the control available in the platform.

lib3rty47

He exposed PRISM and all parties involved with it. Guy has done more for public privacy than you have.

mrcatisgodone

I've been a big Terra shill for past year but damn does it need some other protocols outside of Anchor that are actually fun and simple to use. Don't get me wrong there's alot of plays to be had with what has been launched so far, but alot of the protocols are bit more advanced (PRISM still hurts my brain) or are just a bit meh. Needs something for the crypto dumb dumbs that will see more folks entering the ecosystem.

headwesteast

The Maladex and Genius Yield DEXs are the ones that have an exciting new UTxO pattern, kind of fascinating use of NFT minting onchain as concentrated liquidity position representations; their white papers are good reads. Not following the logic of 'switching' to a full fledged IOG critic because of two separate dev teams' DEX development. I'm not a fan of either of their teams or products actually. I agree I think IOG felt the need for that 2021 lunch window, most likely accepting terrible quality for an MVP on record to battle test the chain (I think a lot of their marketing tactic is to establish a good early safety record for when they pitch their PRISM products to entities like governments etc). They have multiple AMM DEXs, I think you mean a fully on-chain AMM DEX which I'm sure you know already is never going to happen by design and I'd say it's a bit misleading to portray those DEXs' closed-source code decision for at-launch market competitive advantage as a red flag, since it's pretty normal and especially predictable in a novel environment when that is potentially your only advantage. I agree the state of smart contracts are not good enough on Cardano, but I don't plan on dying anytime soon lol so I'm prepared to wait to see them be developed instead of hastily claiming they're unredeemable immediately after v1 launch. This is a 5-10 year game and any illusion that things need to be figured out right now, whether its Cardano scaling, or other things in this space like The Merge or Algorand relay node decentralization etc, are just emotional marketing tactics to instill fear-based decision making.

iamwizzerd

This is exactly why I hold 0 SOL and will not be using PRISM

gnarley_quinn

Total Unlock Period for $PRISM tokens is 5 years. The tokens are allocated as following: Incentives — 30% Ecosystem — 21% Rewards Program — 25% Liquidity — 10% Team — 10% (Locked up for 1 year) Public Sale — 3% Airdrop — 1% ​ https://medium.com/@prism\_ag/prism-ido-tokenomics-e4841bda1101

662c63b7ccc16b8c

Atala PRISM is being built for this https://atalaprism.io/pioneers/

wanna_be_doc

Reading through his post history and constant hyping of PRISM for the last three months, he’s likely only down 50-60% this year.

gnarley_quinn

PRISM. Really solid aggregator DEX on Solana.

gnarley_quinn

Not financial advice and don’t want to be seen as shilling but I’m a big fan of the work being done by PRISM and QBIT.

Techiedelic

I hear you, but this won’t make sense to readers since Five Eyes is an alliance between US, UK, Canada, Australia and New Zealand to undermine our freedoms, not any corporations. Those are Project PRISM.

cali_dave

This is why we need solutions like Atala PRISM. Transcripts can be verified directly on the blockchain and there's no need for some journalist to try to get her name out there by twisting words and making accusations. I've not seen any proof that Charles lied besides this woman's word. Charles himself admitted he doesn't have a PhD. Blows my mind how people just jump to conclusions with no evidence.

Optimal_Store

Cardano is working on several solutions. They are big into digital identities which will be necessary for using the network to vote. One such project is Atala PRISM

HospitalQuirky

For some odd reason I like PRISM

clock_age

TINY - [Tinychart](https://tinychart.org/) token from the premier charting site for algorand ASAs PRISM - [Prism Protocol](https://prismprotocol.notion.site/prismprotocol/PRISM-resources-03bcf73904b9487eadf621cb9ad25338) (defi app on Terra)

JoeFlowFoSho

Terra Luna, part of your staking rewards is paid out in a basket of stable coins as well as your Luna rewards. You can delegate to validators run by other Terra projects and recieve airdrops from them on top of your normal staking rewards. On top of that you can use the PRISM Protocol to refract your Luna, splitting principal and governance from yield. You can then trade the residual for more of the yield and pretty much leverage your staking yield with no risk of liquidation.

alkbch

Right, as if the Patriot Act and PRISM didn’t exist.

INTERGALACTIC_CAGR

because all tech is built with backdoors, there is no privacy anymore. You are being tracked via gps on your phone 24/7, all online activity is monitored through multiple services, including the USAs PRISM and other domestic spying programs and finally you probably have more than 1 device listening to you at all time.

I-make-ada-spaghetti

Using PRISM and stylometry analysis the authorities would have been able to figure out who Satoshi was. Something similar was suspected to have happened with stylometry of code after the TrueCrypt project shut down with the cryptic “…Not Secure As..” (NSA) explanation posted. As far as the CIA starting Bitcoin it’s plausible considering the funding they give to projects like Tor though I personally doubt it. Cash is a lot more anonymous and censorship resistant.

ilritorno

You are probably right, and governments and intelligence agencies are in bed with big tech ([https://en.wikipedia.org/wiki/PRISM\_(surveillance\_program)](https://en.wikipedia.org/wiki/PRISM_(surveillance_program))). Encryption is a threat, that's why we often see this dynamic exposed here: ([https://www.theguardian.com/technology/2021/jun/13/whatsapp-boss-decries-attacks-on-encryption-as-orwellian](https://www.theguardian.com/technology/2021/jun/13/whatsapp-boss-decries-attacks-on-encryption-as-orwellian))

mrmilkman

Thank you for saying this, dude is a straight up dictator that will probably use his government's BTC holdings to grift his country. Their wallet doesn't even use BTC! https://coingeek.com/shocker-bitcoin-in-el-salvador-is-fake/ https://decrypt.co/89275/bukele-has-not-responded-claims-bitcoin-vanishing-citizens-wallets-report I'm seeing right wing grifters starting to pander to the crypto community. Remember these are the same people that created the PRISM surveillance program and set up black sites and torture programs. Corporate Dems just manage the totalitarian system more efficiently and with a nicer face. BTC should be outside of govt influence.

KonvictAddict

The other guy was kind enough to give you contexts on why it could be an important piece of technology and yet you still babble about semantic nonsense. The PoW as a consensus was new, it helps to solve the double-spending problem. Now whether its an invention or just an improved version of old PoW, who gives a shit, its open source protocol, nobody's gonna put a patent to bitcoin. Its enough to revolutionize the concept of money and it makes decentralized "internet money" possible, which prior to bitcoin, many have tried and failed. You said on other post that blockchain goes way back to the 80s which is completely false. Some notion of it, yes, but its not really the blockchain in the context of what we're talking about now, hell the word "blockchain" doesnt even exist in bitcoin whitepaper, its referred to as "chain of blocks". Its a relatively new term. Your point on how blockchain cant be used on voting, health sector, supply chain, etc is also full of shit. Do research more, dont just depend on a wikipedia. And certainly widen your scope outside of the US, the world doesnt revolve around you. Blockchain isnt a silver bullet for sure, but you sure are intentionally dishonest if you say it doesnt have a use case either. Sigh lemme give you one case in the REAL WORLD of how decentralized ID and blockchain help people. Google Atala PRISM in Ethiopia. Context, man, its important. Its like saying there's no way electric cars will be the future because its been around since 1830s and yet after all these years, the majority of people still havent u

UranusisGolden

You didnt get it. BitcoinUS won't be a faithful copy of bitcoin. As an example see the whole PRISM thing Edward Snowden revealed. We may install windows on computers we sell to Germany. And they will have a thousand backdoors.

82626w8

[Atala Prism - A Cardano identity solution](https://atalaprism.io/app) Atala PRISM is a decentralized identity solution that enables people to own their personal data and interact with organizations seamlessly, privately, and securely.

gnarley_quinn

I think the Solana ecosystem is going to explode. So I’ve got some positions in RAY, PRISM, MNGO, SBR and plan to buy some SLC when it goes live.

JacobLambda

This sounds more like they are discussing the Atala PRISM DID efforts. The actual lending platforms are still being constructed (IOG is working with one company and Catalyst is running a fund for some others) and are very much fuzzy but PRISM is the common thread. The distinction with other Defi markets is that "RealFi" as they are calling it is intended for people who don't necessarily have access to collateral. Instead the aim is to use the DID system to attach credit to identities so that foreign investors can easily evaluate risk and offer lower lending rates. This is more about building credit infrastructure in African nations so that lending platforms can leverage it rather than about the actual lending platforms themselves.

Shippior

**all credit goes to u/u/cascading_disruption for this post. I thought his post deserves a spotlight here, I adjusted some parts for better readability** 10+ DEXs, built from ground up, that will specifically use the advantage of the extended UTxO model. Note the emphasis on "built from ground up" meaning that they will be different from what you're used to of the Dapps on the account-based model blockchains. Benchmarking shows that with the eUTXO model, around 25 to 30 orders can be easily handled within one single transaction. Borrow and lending protocols + robust DeFI ecosystem dropping in Q1/Q2 '22 after auditing and testing on testnet. Remember that it took Ethereum 2.5 years to have cryptokitties and Solana over more than a year to have some decent DApps. Cardano entered the smart contract era on 9 September 2021 so Q1/Q2 is pretty damn fast and it's gonna give a shockwave to the entire ecosystem not to mention biggest ADA supply crunch once DEXes are running at full speed. As the DeFi ecosystem starts to take off, an alliance was announced to help speed it on its way through standardization and best practice. DJED: a crypto-backed algorithmic stablecoin contract that acts as an autonomous bank. I can't stress the importance of this enough. Djed is the first coin to use formal verification to eliminate price volatility. The first implementation of a Djed stablecoin contract was SigmaUSD on Ergo. Hydra is Cardano's solution to ultimate layer 2 scalability that aims to maximize throughput, minimize latency, incurring low to no costs, and greatly reducing storage requirements. Hydra introduces the concept of isomorphic state channels: that is, to reuse the same ledger representation to yield uniform, off-chain ledger siblings, which we call Heads (hence the Hydra name, which references to the mythological, multi-headed creature). Specifically for Cardano, this means that native assets, non-fungible tokens (NFTs), and Plutus scripting are available inside each Hydra Head. Many of the transactions currently handled by the main-chain or application running on the main chain can benefit directly from Hydra, because it understands just the same transaction formats and signatures. In a layer 2 system like Hydra, it is possible to achieve confirmation times of less than one second. Throughput measured in TPS per Hydra head is mostly limited by the available hardware. In principle, by adding increasing numbers of Hydra heads to the system, arbitrarily high throughput can be achieved by the system as a whole. ( e.g. each stake pool could achieve about 1000 TPS. There are over 3000+ stake pools right now so when implemented you could in theory achieve 3M+ TPS) Babel fees: being able to pay transaction fees in custom currencies! First, let us recall how native assets work in Cardano: Tokens can be created according to a minting policy and they are treated natively in the ledger along with ADA. Cardano's ledger adopts the Extended UTXO (EUTxO) model, and issuing a valid transaction requires consuming one or more UTxOs. A UTxO in Cardano may carry not just ADA but in fact a token bundle that can contain multiple different tokens, both fungible and non-fungible. In this way it is possible to write transactions that transfer multiple different tokens with a single UTxO. Transaction fees in the ledger are denominated in ADA according to a function fixed as a ledger parameter. A powerful feature of Cardano's EUTxO model is that the fees required for a valid transaction can be predicted precisely prior to posting it. This is a unique feature that is not enjoyed by other ledger arrangements (such as the account-based model used in Ethereum). NFTs are booming and yet you only hear about ETH/SOL NFT stuff. 106M ADA traded over 9 NFT marketplaces in just 6 months! The first stage of the Voltaire era aka Project Catalyst: which is the biggest decentralized fund (of any chain) right now! It has over 700 million ADA and it's used to fund all kind of projects including some of the DEXs, NFT marketplaces, and other lending protocols mentioned above. That's approx. 1 billion $ in the war chest to fund the devs on Cardano and create their DApps and other products. It's been successfully active for almost a year now. So, sidechains and different consensus protocols you say? That is called Basho phase on Cardano. There's another cool thing from dcSpark called Milkomeda: Milkomeda will launch in both of these ecosystems (Solana & Cardano) and deploy EVM-based sidechains for each. This will aid them in acquiring existing Solidity developers out there who are interested in building Dapps for whole new user bases. With a first mover advantage for sidechains on both chains, expect to ride the initial wave of excitement and build a protocol that makes a difference and lasts. The point is to connect the unconnected, bank the unbanked. "Africa is home to >50% of the world's mobile financial services users If the whole world is globalizing and changing, you want to be where all the systems are going to change first, because if you get it right, more wealth will be created here over the next three decades than in Europe, the United States and China combined. That’s just how it is. It’s why the US got on top in the 20th century. It just simply had a better system than the competitors. And everything resets when you have technological change. We now live in a global economy. People from Africa are going to be on equal footing with people in Europe and America if we do things the right way. And then it’s a meritocratic race, and I’m going to bet on the people who are tougher, more resilient and more entrepreneurial 10 out of 10 times. So IOG has a pan-African view as a company. They started in a pretty difficult country to do business in, Ethiopia, and you know what? Everywhere they looked, they saw well-educated, well-intentioned people who really did want change. And they announced a deal of five million people that could grow to 20 million, that could grow to a national ID system of 110 million in just a few years, and that could grow into a voting system, a payment settlement system. It can grow to anything. It’s kind of like the stem cell: once you’re in, you’re in, and you can keep navigating and growing. And then how can they take that to Kenya, to Nigeria? That’s 400 million people – more than the population of the entire United States – within grasp in five to 10 years. Among nations with developed economic systems, DeFi has highlighted the potential for blockchain to disrupt financial ‘legacy’ systems and open up access to new users hunting for better yields and moving liquidity around. However, as much as the age of DeFi is creating fresh markets and driving compelling new use cases, it has also further highlighted the economic divide between people who can easily access financial products, and those who cannot. The reason why banks refuse credit or loans in emerging markets is often that they don’t have enough data about the person or organization intending to borrow. All the necessary financial information can be stored and relayed in a verifiable manner through an Atala PRISM ID. The monetary building bricks of DeFi can be used to structure these loans and hedge the currency risk, while scalable payment rails provided by Cardano and various layer 2 solutions will make it possible to transfer capital across the world without friction. Atala Prism is a decentralized identity system that enables people to own their personal data and interact with organizations seamlessly, privately, and securely. The Atala Prism team is integrating metadata to certify and store DIDs and DID documents on Cardano. Also, it will be possible not only to create but also to revoke credentials such as university certificates. Atala Trace and Atala Scan are being developed to enable brand owners to improve the visibility over supply chain processes and establish product provenance and auditability. In these cases, metadata integration will be used to record tamper-proof supply-chain records. Cardano adds the final piece of the financial puzzle by unlocking real economic value at the end of the transaction chain: personal identity. Identity is central to everything. Once someone has an economic identity, a world of opportunity and inclusivity opens up. Real opportunity comes with access to essential services that were hitherto out of reach. And real finance, such as loans to open a business or maintain an existing one. Identity can become an asset in so far as it can be a substitute for collateral. A lender's overriding concern is to ensure that loans (plus any interest accrued) are paid back. One way of enforcing this is by collateralizing the loan, but if the lender has enough and clear information about a borrower (if they know the borrower is a high-earner, or a long-standing customer), the lender might be more inclined to forgo the collateral.

gnarley_quinn

Was lucky enough to get in on a tiny project yesterday. PRISM went 2x overnight.

Nousfeed

I use to use ADA for the same thing but Algo is even better for this. I also think ADA biggest potential is governance and identity with Atala PRISM. But it will be a race with Algorand as they are looking at the same thing. I think both have the right approach, concentrate on governments and industry. If governments use a chain for Identities, people or users will end up using that chain as a "home base" encouraging industry to stay inside that same "home base" to reduce friction in using their product.