Smart money exists because of dumb money

The Soothing Coin Team

January 2, 2021
Version 1.0

Downloadable at
https://github.com/sthc/AnonyID

Comments are welcome.


Summary

Identity verification is essential for the life in cyberspace. Unfortunately, nowadays identity verification in cyberspace is either virtually non-existent, or has to sacrifice the privacy in our real life. We hereby presents an elegant so-lution based on the cryptocurrency Soothing Coin (STHCOIN). The solution allows everybody to establish an anonymous identity (AnonyID) and provides an unprecedented way for universal online authentication. Like real life identity, a credible AnonyID is established via interactions and connections with other AnonyIDs, and cannot be easily replicated or forged. Each established AnonyID would represent a unique person in the real world and yet would not carry any information from the real world about the represented person. Furthermore, AnonyID is totally transparent, publicly verifiable and thus can be used universally, just like a human face in reality. Since AnonyID is completely separated from the real life identity, when using it for online authentication, one needs not be concerned with leaking his/her identity in the real world. To some extent, the AnonyID system is similar to LinkedIn but everything is anonymous and open to the public. We all need driver licenses and passports to do business in the real society. Soon, just like physical IDs, AnonyID will be needed by every citizen in the virtual society of cyberspace to prove their identity. Going above and beyond, AnonyID can be used for equipment and virtual entities as well and support computerized operations (e.g. POS in blockchain). On top of AnonyID, an online society can be formed that everybody and everything can be a part of anonymously. Such a society will be the norm in the future cyberspace.

This white paper defines AnonyID, specifies the protocol to implement it on STHCOIN and provides a roadmap. Web functionalities, mobile app and programming APIs for the use of AnonyID are also described. Since both the infrastructure and protocol are open, third parties can participate in the development in their own ways separate from the Soothing Coin team. Furthermore,
many interesting issues await the solutions from the public. The project is open in its nature. Anticipating its broad and deep impacts, we call for the participations of all interested parties.

https://github.com/sthc/AnonyID

https://soothing.center/en/

The possible solutions to the main problems facing the modern blockchain and cryptocurrencies market can be solved through a complex approach that can be offered by the proper infrastructure for catering to the needs of market participants and anticipating any future trends.
The solution offered by the BTCU team involves the creation of a new mining algorithm, the UPoS (Ultimatum PoS), that would usher in the development of a new blockchain matrix capable of resolving the long-standing issues of the market.

Consensus algorithm basis

BTCU will be based on LPoS mining algorithm combined with PoA, where LPoS will work for users to mine, and PoA to validate transactions. PoA-algorithm of transaction confirmation
will allow realizing the throughput of the blockchain at the level of 200 transactions per second, with the ability to scale up to 10,000 tps.

Leasing and Staking

The BTCU project team advocates avoiding classical mining for unloading the network, and also opposes the use of electricity on a massive scale for mining the cryptocurrency. The given approach is based on the fact that the crypto community has become more mature and is developing, changing its point of view in favor of preserving the environment and using more humane mining protocols. The LPoS algorithm creates a voting system that directly depends on the reputation of the validators. If the selected node does not work correctly or works inefficiently, it will be quickly
deleted and replaced by another. Therefore, the validators are motivated to act honestly and effectively, so that they are further voted for with their own steak.

Projects tokenization and DeFi

The integration of EVM (Ethereum virtual machine) technology into the BTCU network, which will allow the implementation of smart contracts on the well-known Solidity provides huge opportunities for tokenization projects or the implementation of DeFi.
Given the flexibility and scale, the Ethereum platform is the leader for the DeFi application, but that doesn't mean it's the only blockchain platform. High fees, problems with technical support of nodes, the oversupply of contracts, and network centralization, which is one of the most terrible threats to modern projects make them look for new solutions, one of which is BTCU.
DeFi is short for Decentralized Finance. Decentralized Finance includes digital assets, protocols, smart contracts, and dApps built on a blockchain.
Think of DeFi as an open financial ecosystem where you can build various small financial tools and services in a decentralized manner. Since these are applications built on a particular blockchain, they can be combined, modified, and integrated according to your needs.

https://btcu-wallet.com/

On Thursday, November 12, 2020, the blockchain firm Kirobo launched a tool that allows users to reverse ethereum transactions. Similarly to the replace-by-fee (RBF) protocol leveraged by bitcoin users, ethereum transactions can be reversed as well with Kirobo’s “Undo Button” supported by Metamask or any wallet that supports walletconnect.
The two top blockchain assets, in terms of market capitalization, have features that allow users to reverse transactions they sent if the fee was too low or for other reasons.

The post The ‘Undo Button’ Wallet Tool Gives Users the Ability to Reverse Ethereum Transactions appeared first on Bitcoin News .

https://news.bitcoin.com/the-undo-button-wallet-tool-gives-users-the-ability-to-reverse-ethereum-transactions/