As an independent Ethereum DAPP developer, I’m really quite happy sitting in a front row seat watching the highly skilled acrobatics of the core dev team as they research and implement insidiously tricky protocol improvements. I trust them by my knowledge of their demonstrated merit, that they won’t slip and fall from a great height, ruin the show and send the audience running for ticket refunds. It’s a show ring in which I’m happy to not interfere but feel knowledgeable enough to have a reasonably educated opinion on the matters.
As everyone in this community would know, Vitalik raised on April 1st (April Fools Day) which proposes to cap the total supply of ether. The EIP reads as a serious and properly reasoned proposal so naturally the community was abuzz in trying to work out what that actual joke was. Thankfully he didn’t keep us in suspense and that it was a ‘meta joke’ to get people arguing over whether is was a joke or not! So I’ll lol for that, clap a couple of times and throw some popcorn at him.
The official EIP960 thread is of course now over run with 126 comments in the past week alone much of which is low grade ‘economics’ opinion and argument to which Nick Johnson that Ethereum is a computer system and not an economy.
The point Nick made is fundamental. Ether has a primary intrinsic purpose on the Ethereum protocol. That is, to be consumed as a resource with which to run calculations upon a computational machine common. The protocol has enlisted, by design, the dynamics of self-interest economics as a methodology to prevent abuse of that common. Any economic arguments beyond this, such as ether being a SoV, MoE or UoA, are secondary to its purpose.
The fundamental question that must be asked when considering protocol change at the primary economic level is,
How will this impact upon the security of the protocol?
What Vitalik has proposed is to replace constant value block rewards with ‘Reward Units’(RU) where:
1 RU = (1 – CURRENT_SUPPLY / MAX_SUPPLY) ETH
This presents a horizontally asymptotic curve in which the value of 1RU decreases over time until MAX_SUPPLY is reach. This is in essence similar to bitcoin’s 4.5 year reward halving to target the 21 million supply cap but with a more continuous half-life of 744 days according to Vitalik’s calculations and under the theoretical assumption of continued POW mining.
To complicate matters, the supply is drained through proposed sinks such as Casper slashing and . By these, the total supply becomes more in a steady state under a ceiling rather than at some cap.
Not a Hard Cap… #960 is a ‘Hover Cap’
Reward Units are a fundamental change to the issuance model, because they can be issued not just to miners but to pay staker’s interest and more generally, for any other future rewards schemes.
Changing the fundamental issuance model also changes the fundamental security dynamics from something rather dumb (POW self-interest) to something much more sophisticated at best or complicated at worst. Regardless, it would be a huge mistake to try and speculate upon this change in terms of current POW incentives and security. Speculation on the new dynamics requires a deep understanding of Staking, Casper in both its phases (FFG and CBC), gas costing and consumption and other fees which try as I might has always been quite beyond me. Many of these components are still under heavy research.
Harry Hodler Has His Say
What has been grasped by the broader opinionated community is really only the secondary market speculations of what effect a fixed supply will have on the exchange. The broad belief is that;
fixed supply => higher demand:supply => higher market cap = early hodlers get rich (again)
I don’t see much in this equation that relates to protocol security so don’t support this argument for a cap. Neither do I think its a valid argument for the future continued adoption of Ethereum as a trustless computational platform.
What I would like to see in regard to issuance is a dynamic that follows and fosters adoption of the platform itself and not just the currency. This adoption is a long term trajectory which should be as fair as far as cost to future generation as it is to us.
My fear is that a FOMO inducing hard caps will disadvantage those future adopters.
Consideration toward future adopters isn’t an argument against a hover cap, only the issuance time frame from a few years to perhaps decades and supply from 2x presale to maybe >10x presale.
April Fool Has her Day
I’m likely the April fool here in struggling to foresee futures of a technology as complex as Ethereum under this or that proposal. As I said, I’m happy sitting in the front row, and not swinging in the ring, but I do feel this proposal is significant enough to give deep consideration beyond just market speculation.
About SHIVOM
Shivom is one of the projects that intends to use data storage in blockchain technology to empower a new genetic era. The facility will allow a gene-based ecosystem where users will have an open web market for personal medicine, genetic data analysis and medical service applications.
The team behind this project showed that the convergence of OMICS technologies with AI, machine learning and blockchain techniques allowed for the widening of the global coverage of health care.
The purpose of SHIVOM
Shivom pioneered the omics ecosystem to make this vision a reality by offering its first-of-its-first investment proposition in a rapidly growing market for personalized medicine, backed by state-of-the-art blockchain technology and to improve the health services available safely and accessible to all. build sophisticated drug discovery. Shivom researchers will use data-driven tools and techniques, especially machine learning methods that support artificial intelligence, which will offer promise in improving health care systems and services around the world. Blockchain technology is our preferred technology partner for being able to cope with trust issues, including patient approval, data ownership, data integrity, and authentication. Blockchain can also manage complex data rights and allow finegrained access using smart contracts.
Why should you choose SHIVOM
To make businesses more direct to consumers more open, fair and beneficial to all users, the Shivom platform uses blockchain technology to create genomes that disrupt ecosystems. This ensures the data is owned by the data donor itself. This ensures a transparent and secure bridge for organizations interested in using the data.
Donors of genome data have their data and access rightsDonors get rewarded for sharing their genomic data on blockchain by selling direct access rights to third parties institutions such as pharmaceutical companiesPharmaceutical companies use the Shivom platform to fix drugs developmentShivom users have full and smooth controls that can access data even after third-party agencies have access to itPatient gets personalized health, wellbeing, and lifestyle informationA dynamic ecosystem is created and continually perfected where communities can identify and remove healthy roadblocks before they become serious.Shivom will be a revolution for the preservation of genetic material.
Blockchain technology is currently the leading technology in solving our privacy problems. The ability to provide secure transactions without intermediaries proves to be useful in many industries including real estate, finance, healthcare and nowadays genomics. It’s clear that a number of health care companies are betting on the need for genetic data and investing in genetic data to achieve growth.
the project is unique and empowering, Shivom will allow donors DNA data to collaborate with the makers of the revolutionary changes in the field of biotechnology, health care, industry and research institutes as well as Government regulated contribute during a medical miracle is unprecedented.
Make genomic data center as Shivom largest on the planet. Contributors have their genomic data, controls rights to access them, and receive a prize if they choose to share it.
This is a very useful opportunity for resolution and treatment of many diseases, production of medicines that are accurate and the right composition of sports training, planning and learning how to live what is better, considering the many My characteristics to make it more healthy, energetic and happy.
Shivom is one of the projects that intends to use data storage in blockchain technology to empower a new genetic era. The facility will allow a gene-based ecosystem where users will have an open web market for personal medicine, genetic data analysis and medical service applications.
The team behind this project showed that the convergence of OMICS technologies with AI, machine learning and blockchain techniques allowed for the widening of the global coverage of health care.
The Problem of Gen in Modern Medicine
– Genetic sequences have been previously expensive but the cost is plummeting making the sequencing more readily available.
– With the rise of donors, there are problems with data ownership, data sharing and data integrity.
Genomic sequence service providers often sell gene data to earn profits while donors are not compensated in any way.
Shivom will solve
– The expensive procedures of genome sequencing
– Lack of data ownership, integrity, and sharing
– The sale of genome data by third-party genome sequence suppliers.
– Lack of confidentiality of the physician-patient
There are no compensatory measures for patients to use their data provided by health authorities and researchers.
Shivom’s solution
To achieve the goal of a universal database for DNA sequences, Shivom will use blockchain technology to create a formal and autonomous ecosystem. With this ideology, Shivom will protect sensitive gene data that has not yet come to our traditional databases. As such, the health sector will benefit from a range of benefits associated with overcoming the challenges of a secure system. These include;
– Easily access and store genomic data in the same place
– Better management and control over how information is accessed
Health researchers can use information to find lifestyle information
– Ability to identify health conditions before they become serious
– Allows users to receive value for their data through smart contracts and tokenization
So what Shivom is doing very different is through blockchain and in cryptography, the same process as you will get your saliva swab, you will get your genome sequences but at the end of the day Through the crypto keys you will be able to completely control 100% of your data. So you can decide whether you want to donate your genome for a particular study or maybe to some pharmaceutical company based on their foundation if they are going to perform a clinical trial. Specifically such as you will be rewarded when participating in the test through the card can be on their platform and have all other services and products will be on the Shivom platform but through which a Again you have full control over who has access to your personal information.
Smart contracts play a very important role on the Shivom platform as well. So, in addition to controlling who has access, you can also make a lot of very important decisions about the type of information you want through smart contracts. One of the areas that they highlight is that some people have reservations about taking their genome sequence because it may return to information they do not want to know. There may be an option, for example, through a smart contract to say, “I just want information on possible things that I can do to improve my health.”
By controlling the process and who has control over it as well as the type of detailed information you will receive personally will bring people comfort. When it comes to security a huge distinction, many organizations are now coming from a 100% centralized position and by Shivom they will use the blockchain solution. It is more than a hybrid solution, all information will be encrypted, anonymous. Everyone will have a global ID that will be hashed in the blockchain and all the workers traded on the chain as well.
The information itself is encrypted and anonymized and unique to the Shivom platform as everyone will have a global ID that will be hashed also on the blockchain so that the ID in itself can not be associated with any. any specific icon. You will have many layers of cryptography, many layers of anonymity but it will depend on the individual, there are cases where you will reveal more information. Maybe it was a live exchange with a genetic counselor or doctor. So you will have control over whether you want your employer to be able to access the information. It only depends on the type of display you want, but by default the information is anonymous, anonymous. When it comes to the function of the token, The first is that a large part of the problem that ‘is happening right now is that there are genome sequences going on all over the world but all in different databases. The different formats and so what you have is a bunch of different information all over the world that are not connected.
So, on the Shivom platform through their blockchain and multiple protocols, they are intending to unlock all of this different data to get it onto a platform and that will be very important. Next up is the security, the security on the blockchain is much higher than what is happening right now in the centralized database. We often hear about hackers going on a variety of areas, including health care. Therefore, blockchain will create another layer of security that is obviously very important when it comes to patient data and privacy. Finally for blockchain offers the opportunity to use smart contracts and cards. Intelligent contracts will actually deprive many of the process of occurrence and effectiveness in the health care system. It’s common in many different areas and the main token type of fuel platform Shivom. Each transaction, every product or service that will be traded on the Shivom platform, will require a token.
Token Sale:
Token: OMX
Price 1 ETH = 7000 OMX
Platform: Ethereum
ICO date: 16.04.2018–16.05.2018
Accepting: ETH, BTC, Fiat
Soft cap: 15,000 ETH
Hard cap: 75,000 ETH
Country: Isle of Man
Whitelist / KYC: KYC & Whitelist
Restricted areas: USA
ROADMAP
Conclude:
This is a good potential project, a great idea if applied to life. Genetic resources are precious to humans. At the time of this project I did not have a real product, but I still follow the project regularly. I hope this will be a good project
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Author : terry17
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