Suter, another 100 periods coin like Chainlink

1

My street to bull marketplace trials

Before this article officially starts, let's share the pain of the initial 100x return project I missed: Chainlink.

Whatever the market or market value, several people expected Chainlink's success today. Looking back, despite the fact that I experienced the insane September 2017-May 2018, I did not expect it. In the large bear marketplace of 2019, it is even harder to imagine its future.

I recall that it was June 2017. I got Chainlink's private collateral quota. I didn't browse the white papers. I understood it was an oracle. In those days, I didn't even understand what an oracle has been. I believed it was much like producing predictions, such as climate forecasts and earthquakes. Application things such as warnings. However in the bull marketplace of Brainless Stud, no matter that much, very first participated in 5w US bucks, and private collateral financing has been about 3,200w US dollars in total (funding was super easy at that time, and all tasks raised so much).

In fact, there are many tasks like Chainlink. Gnosis and Augur have already been rated before Chainlink. The community is very good. The newcomers feel that the opportunity is not great. The tasks in exactly the same period are usually open 3-10x, so just participated in. It didn't rise much at the starting of Bittrex, it was tepid, and it rose somewhat (10-15% like this).

My friends and I actually were quite dissatisfied with the project. Personally i think that the project is very bad (I don't actually understand myself when I recall, and I has been a large SB at that time). My pal has offered it once again. Why should he advise me never to offer it? ? So I sold all of them on a income of about 10% (my friend only sold half of it, and doubled it and offered everything, now consider it as a little sb)

After that Chainlink traded sideways for a long period. This was a project that has been forgotten almost instantly in the bull marketplace at that time. You don't skyrocket, you do not plummet, and you move sideways. How exactly to state it, the k-line is like an electrocardiogram. If you are sideways, you're fart.

Later, about May 2018, I found the founder of Chainlink preaching in a meeting, discussing the progress of their technology, emphasizing that they are technology-driven, and performing a good job of technologies, how awesome the technologies is.

The entire market environment in 17 years was crazy. In those days, I didn't have any good feelings about the word “technologies driven”. At the end of the conference, I just ran in to the founder of Link and then encircled him with friends and provided him tips, “You To activate in the market", "You have to engage in the community", "You have to cx", "You must pay attention to the opinions of the community", but the founder's solution is: Thank you, we just concentrate on technology, very first do technologies. My pal and I turned around immediately, thinking that such a project deserves to belch, what hope will there be.

Whenever we felt that we had lost our memory of the project, one day we suddenly found news on the subject of Chainlink:

After repeatedly confirming whether it was the Chainlink I had committed to, I actually was shocked by the mobile phone force message that "the tokens of the hyperlink code skyrocketed by 8x per day". In those days, the market value of the link had exceeded 500 million US bucks.

After being crushed by a large number of grass-and-mud horses for weekly, I actually received news from chainlink announcing the cooperation with Amazon in the second week, and cooperated with Google in the 3rd week, and the market value quickly rose to at least one 1.6 billion People dollars.

If my 50,000 US dollars were still in my hand, it is now worth about 2.5 million US dollars. At the beginning, I scolded others 250, however now I become 250. Because the announcement of the Oracle cooperation, I cannot feel my heartbeat.

Today, Chainlink has as soon as exceeded the market value of 3 billion U.S. bucks, becoming the 8th project on earth. What is the reason why? DeFi or Polkadot? It's not important anymore, it provides nothing to do with me.

2

Looking back on the past, embracing reality, and moving on

After studying from the pain, life continues, stud will not stop. Failure to review an investment can be a gain. Just imagine which you have spent $500 to buy a lesson. My summary is:

First, investment still requires investment in technology. Take vds for example. Today's tasks that only depend on versions and communities will skyrocket in the short term, but they won't last. The bubble will often burst and the dish will often collapse.

Second, investment should be patient. The bear marketplace that has lasted for nearly two years provides cultivated the persistence of almost all investors who've gone through the bull marketplace, but everyone has not done enough. Good projects need time and wait.

Third, whether the application situation can be implemented. Quite simply, whether there exists a huge room for creativity, this is actually the most significant one.

The oracle technology of Chainlink is merely "You said this happened, did it really happen?" It's like we pay attention to the gossip of our friends. Which superstar has turn out. Kanye West is just about the President of america. Is it true or false?

The oracle can link relevant offline and online information to objectively and truly confirm the occurrence of things. How useful is this technologies? If it really solves the issue of confirming gossip, then at best it is equivalent to the worthiness of a story.

But if it's applied to financial transactions (such as confirming the costs of shares and futures), logistics, insurance, aviation, and other processes that want multi-party information aggregation and decision-making? A system that is totally objective and neutral, can respond instantly, and assurance credibility, this value can be great, and the market size is at minimum one trillion.

If btc is a trustless currency transaction settlement system, after that Chainlink should be a trustless information data system.

Now that he's got become an afterthought, will he turn around and be a pre-existent Zhuge Liang later on? Now I'm looking for another Chainlink. The oracle marketplace, with Chainlink, has no other expectations. So the focus of interest was on privacy, and DeFi.

3

Discover the next Chainlink

Very first, let's throw a conclusion. Suter will become a Chainlink in the privacy field. The next three logics will undoubtedly be explained one at a time.

Concerning the positioning associated with Suter, this is actually the most important thing. Suterusu is a privacy smart agreement plug-in which can be adapted to multiple general public chains. It mainly does a couple of things:

1. Privacy of dealings on the public chain

2. Private cross-chain dealings can be carried out on multiple chains

You must ask, since there are Zcash, Menaro, Dash, Sero, etc. for privacy coins, why do you need Suter?

First, there exists a need for privacy. Because privacy is the most basic right of customers, it is the protection of their own transaction information (address and account information). A and B purchase a banana, you don't have to enable you to see all their water, electricity and coal accounts. The amount of money laundering conspiracy concept is just a misunderstanding of privacy coins by many people.

If you have followed the activity of the BTC/Dash trading pair, you'll realize how strong the need for privacy is. However, because of specialized backdoors, tokens such as Dash are not truly anonymous

Privacy is a rigid want, not only for btc, but also for all public chains. In every transaction scenarios, privacy protection is just needed, anti-hacking, people who do not really want to reveal their prosperity, the need to protect corporate information, and so on.

Privacy transaction solves the huge pain point of information protection. Previously, you can exchange any foreign currency for Dash on the swap, industry with Dash, and withdraw the foreign currency. However, an swap that passed KYC in the centre is still unsafe. Moreover, you don't have to undergo these complicated processes for small obligations such as bananas.

As a privacy plug-in, Suter solves all problems. So long as you adjust to Suter on any chain, you may use Suter to build on the second-tier network of the public chain to exchange tokens, and you will achieve complete privacy. You can't observe me, I cannot observe you, and all of the steps are omitted. , The price is 1/100 or even 1/1000 of how many exchanges you have tossed.

Suterusu has recently cooperated with the next public chains: Neo (21st, IOST 63rd, Harmony 130th, Elrond 43rd, Theta 34th)... Do you have any feelings of Chainlink cooperating just about everywhere to become panacea?

At present, Suter has cooperated with 5 main public chain tasks in the top 100 marketplace capitalization, and contains been selected as the second-tier privacy network. Maybe 20, 30, and 40 of the top 100 will undoubtedly be cooperated one after another. . What do you think of Suter?

Suter's value would be the superposition of the public chain ideals.

If these public chains soon add up to 100w users, if the privacy coating is implemented on the btc through the Lightning Network, a privacy network determined by the public chain of an incredible number of users has more than any public chain. Alone, then the market value will definitely surpass any of the public chains.

(Aside from Ethereum, these days chainlink surpasses every public chain that calls oracle smart agreements. Chainlink will not cooperate with an array of other general public chains)

All these is only part of the Suter application marketplace. And the bigger application-in each of our cell phones, in the personal information of the electronic age.

Facebook's information leakage and Twitter's account were hacked. Behind these attacks may be the insufficient privacy protection.

The reason being the keys are stored in clear text on a centralized server, or they may have backdoors like zcash. Now many people are discussing Web3.0, what's Web3.0? Actually, it is in line with the mixture of a trusted decentralized network and a centralized network world.

Ex - Ethereum CTO and founder of the net 3.0 Foundation, Dr. Gavin Wooden pointed out that Web 3.0 is a set of inclusive protocols offering blocks for app manufacturers. These blocks replace traditional web technologies such as HTTP, AJAX, and MySQL, but give a whole brand-new way of creating applications.

As is seen from the aforementioned description, web3.0 can be understood as the protocolization of Internet functions. This sort of contract embodies the spirit of openness and decentralization, but simultaneously it can supply longer-lasting and more powerful services.

Bitcoin and Ethereum are usually specific types of this demand. As you all understand, the basic premise for finance institutions to supply services is an account, and the establishing and division of account functions is a very important section of financial supervision. Nevertheless, Bitcoin can realize self-service account opening with the help of asymmetric encryption technologies and decentralized network. Based on this account, customers can exchange and industry, and realize numerous functions of DeFi.

Bitcoin and Ethereum embody the spiritual aspirations of web3.0, and at the same time open up the scope for blockchain technologies to are likely involved in the building of web3.0.

But Bitcoin obviously cannot provide all of the solutions for web3.0. The building of web3.0 involves a multi-level architecture from the underlying communication, application coating, and to the user coating, including multiple basic functions such as network communication, distributed computing, information storage, privacy protection, and identification.

The implementation of web3.0 will not necessarily rely entirely on blockchain technologies, but starting from blockchain technologies, it can undoubtedly build a more realistic route for the increase of web3.0. That is also the current emergence of a number of blockchains in the field The primary reason for potential tasks.

Internet 3.0 primary function puzzle

An essential contradiction in Web 3.0 may be the contradiction between the confidentiality of sensitive information and the transparency that different businesses need to assurance to the public. The existing network model maintains the balance between both of these important properties by using highly centralized organizations as intermediaries.

However, centralized organizations will inevitably collapse over time. Recently, many centralized institutions have got encountered scandals when digesting user information, such as Facebook's Cambridge Analytica scandal, Weibo user contact information leakage incident, and Zoom movie conferencing program access Control issues, etc., all verify these institutions cannot deal with the above-stated contradictions.

For these traditional middleman companies, the basic principle of coping with user privacy issues would be to replace it. Because they are unwilling to allocate assets on privacy and security issues, they often begin to seek solutions after major issues have occurred.

In this regard, a far more obvious example is that during the epidemic, Zoom company exposed its many flaws in safety and privacy, and began to acquire startups such as Keybase to fill up this gap.

Internet 3.0 and the traditional Internet model, a principled distinction between the two is that the user's privacy is recognized as a core attribute at the start of the machine design. This means that some academic cutting-edge cryptographic tools will become the entire at the start of the machine design. The cornerstone of the machine.

And Suterusu's positioning of privacy protection is to meet the underlying Internet protocol that should be compatible with hundreds of millions of Dapp developers, and it is the living of a decentralized keybase.

4

Back to the original heart, technology first

After discussing market place positioning and space, let's talk about technology. With a few questions:

What zero knowledge proof? What is Mimblewimble? What is multi-party processing MPC and trusted processing Tee?

The next will expand one at a time to explain why Suter's original technology may be the most powerful.

First come an image:

As you can see from these representative tasks, what Arpa will differs from what Suter will. The enterprise-level safety they do would be to control risk for the business, never to protect privacy in the 2C situation, but Suter is Security protection for both toB and toC scenarios. Specifically in the toC situation, Suter's solution can be reported to be the only person on earth except for privacy coins purely for transaction.

The difference between Suterusu and privacy coins Beam and Grin:

Both Beam and Grin are privacy coins, predicated on Mimblewimble's protocol, and their goal would be to implement their own private transactions much like Zcash. Suterusu itself is a protocol, a universal Coating-2 privacy protocol predicated on self-created zero-knowledge proof technologies, with the goal of making other chains have privacy protection functions.

The following is a detailed comparison:

1. Broader applicability: Both Beam and Grin are simply privacy coins. Suterusu is committed to creating a general coating-2 protocol and can provide privacy protection functions for other blockchain networks and applications.

2. A higher level of privacy protection: Mimblewimble aims to locate a balance between privacy and scalability. Nevertheless, to be able to ensure the scalability of the Mimblewimble protocol, miners must streamline the transaction information, usually the transaction can't be packaged, so there is no assurance that the transaction will never be traced. In line with the self-created zkp algorithm "zk-conSnark", Suterusu will not need credible presets (Zcash needs credible presets), and contains higher safety. The calculation is near a constant level, which can ensure the anonymity of the sender and receiver Take into account efficiency while keeping the privacy of transactions.

3. Assistance DeFi: The scripting languages ??of Beam and Grin are similar to Bitcoin, so that they cannot assistance complex smart agreements, which limitations their applicability in DeFi and other fields. Suterusu's privacy alternative supports account setting and UTXO setting, and contains a complete wise contract. Later on, it'll be an important basic contract in places such as Defi.

Another related project may be the Ethereum privacy transaction layer protocol Tornado.cash, which currently has several million bucks in monthly visitors. The following are the main differences between Suterusu which project:

1. Tornado's alternative cannot safeguard the privacy of transaction quantities. Suterusu's solution also guarantees the anonymity of transaction participants and the confidentiality of transaction data.

2. Tornado's solution is based on ZK-SNARK like Zcash, so trusted initialization is required. Suterusu's solution will not need trusted initialization, so it is better and transparent.

3. Unlike Tornado's alternative that only pertains to Ethereum, Suterusu's anonymous payment alternative for smart agreement platforms is common. Quite simply, it works with not only Ethereum but additionally any smart agreement platform. For this reason there are so many wise agreements. The reason for the contract system project and our cooperation.

4. Suterusu's virtual machine also provides an anonymous cross-chain exchange functionality for Bitcoin, that may bring more liquidity to the Suterusu ecosystem.

5. Since Suterusu's anonymous transaction solution works with both smart agreement platforms and Bitcoin cross-chain transfers, we can also build more sophisticated and complex Defi functions on top of the specialized modules we provide.

Suterusu mainly has the following core technologies:

‧Zero-knowledge proof program code base for wise contract platform

At present, the implementation of the common zero-knowledge proof program code base on the market is mainly for layer 1 privacy coins, such as zk-snark of zcash, ring confidential transaction of monero, etc. The zero-knowledge proof program code base prepared for the wise contract system and the zero-knowledge proof program code base for coating 1 privacy coins mainly have the next differences:

Beneath the layer 1 privacy coin UTXO model, an electronic commitment scheme can be used for a merchant account to send an encryption key that the recipient can use. If the UTXO account recipient cannot open the digital dedication, it only means that the UTXO account can't be used. For that reason, the exchange initiator under the UTXO model does not need to supply a zero-knowledge evidence to verify the legitimacy of the encryption key when sending the random key corresponding to the encrypted amount to the recipient.

For reasons of convenience, the account model simulates the working mode of a bank account, so all of the transferred amounts under the account model are finally aggregated under one account. For that reason, under this model, the random key of the encrypted exchange amount received by the account can't be opened as soon as, which means that all other quantities in the corresponding recipient account can't be used because the random key after aggregation cannot open the corresponding ciphertext .

For that reason, for the zero-knowledge proof scheme of the smart contract platform, it's important to supply a zero-knowledge proof for the encryption scheme of the account quantity key to avoid the above-mentioned issues.

This means that a number of changes have already been made to the corresponding transfer proof and scope proof; since the transaction scheme for wise contract platforms has a different mechanism for preventing replay attacks and the mechanism for preventing double-spending attacks in privacy coins such as monero, Suterusu has also accomplished this. The corresponding changes.

Suterusu's preliminary zero-knowledge proof program code library provides stability evidence and scope evidence for the exchange amount of the smart agreement system. The exchange amount balance evidence means that the sum of the the input quantity and the result quantity in a exchange operation are equivalent, and the scope evidence means that the amount involved is in the correct range, so as to ensure that the attacker cannot release an assault of printing Suter coins out of thin air.

‧ Clients supporting formal verification

Your client of Suterusu Phantom 1.0 is written in the OCaml vocabulary. The OCaml vocabulary has been widely used in smart agreement programming. The primary reason is that it's a functional program writing language, so it is convenient to create programmer libraries and tools for formal verification.

The so-called formal verification refers to abstracting the machine code into a mathematical model, and, for a few predefined attributes and instructions, mathematically prove the correctness of the algorithm utilized by the machine to verify the safety of the machine.

Benefiting from the strong type system and memory management features of the OCaml vocabulary, the OCaml vocabulary has a unique advantage in supporting formal verification. The technical community of the OCaml vocabulary can be very effective, with many tools that can be used to generate formal verification of OCaml program code, such as F*, Coq, Why3, etc.

Presently Suterusu Phantom 1.0 customer has supported functions including: account creation, exchange, signature generation and corresponding zero-knowledge evidence library. Sero, like Suterusu, can be a privacy coin project that supports wise contracts.

Sero's core cryptographic innovation would be to replace the hash functionality of the Merkle tree used in the Zcash alternative with a hash function predicated on elliptic curves, nonetheless it does not change the mathematical assumptions or system architecture used in the alternative. That is strictly an engineering A micro-innovation on the web. However, since the zk-snark it utilizes follows exactly the same Zcash alternative that will require trusted initialization settings, a number of security issues Sero also exist in Zcash.

Suter's recently released Suter testnet Phantom 1.0 implements zero-knowledge evidence without credible initialization. All parameters involved in the initialization procedure are random elements selected in the corresponding team through an open and transparent procedure. Suterusu zero-knowledge evidence algorithm The execution is general public, anyone can verify this by checking the public program code on the Suterusu testnet.

Furthermore, the zero-knowledge evidence scheme used in this testnet is founded on the standard discrete logarithm hypothesis, that is also the underlying hypothesis of many cryptographic schemes that have been tested in practice, therefore the security is beyond doubt.

Suterusu currently has a market value of US$600w. It's been sideways on Kucoin for more than half a year. Keep in mind, Chainlink was also sideways in the initial year. Are all of these similarities of specialized projects?

Finally, let's talk about Suter's token model, its Pos mechanism, which represents the loyalty of the community, and in addition represents the long-term economic model and incentives. In the event that you still don't understand POS, both words and phrases I summarized represent the advantages of Pos: "compound attention."

Let's take a look at Suter's present POS pledge. The current pledge price has reached 89.5%, that is near 90%. This means that for every 10 tokens issued in the market, 9 tokens have already been locked for pos pledge. Only one 1 token is in circulation.

So today, when Suter has a market value of 6 million, the real circulation outdoors is about US$60w, which means that Suter's valuation is reduced. Therefore, foreign currency holders select long-expression returns and spend money on compound attention to obtain currency returns.

The 90% pledge rate also represents a far more important value, that's, although 3000 Suters are released from the network every 30s, only 300 are in fact in circulation, and the full total limit of selling pressure each day is 5,400 predicated on market prices. US bucks.

In today's marketplace, new users who join as nodes must obtain the secondary marketplace, which completely absorbs the offering stress, and we can note that basically every week's new nodes have already been changed hands in the secondary marketplace. Many traders who believe in the long-term value of Suter have locked positions.

Suter can also vote for SuterDao. The concept of DAO is decentralized governance, but total decentralization is similar to Western democracy. This is actually not really conducive to the fast development and iteration of the project in the first stage. Rather, it is SuterDAO that maximizes the enthusiasm of customers. The current feature allows customers to participate in decisions that are truly related to their passions through voting on key occasions, such as mining versions and token discharge models. The above two scenarios are usually for governance and revenue.

Another most critical scenario may be the application situation of Suter Token, that's, how is Suter consumed?

Let's take a look at the introduction of Suter from Elrond's CEO Mincu, the world's leading IEO project in the second stage of binance:

How did Suter work with Elrond specifically?

Actually, this image is somewhat specialized, and associated with very simple. An individual downloads Elrond's wallet or any wallet that accepts Elrond's mainnet foreign currency, and when transferring, chooses to contact Suter's wise contract for blended currency payment (here either you have Suter token Create payment, or use btc or elrond token erd to cover Suter token wise contract fees).

So if customers feel that they need to protect their account security, then the usage of Suter token may be the default option in this exchange scenario, much like Ethereum Gas.

Imagine if a protection fee of 2 cents per transaction, if 20w dealings with Suter occur on elrond a day time (currently they assistance 1.44 million dealings each day, 1,000 dealings per second), then 4k handling fees will undoubtedly be consumed. If Suter cooperates with 10 such general public chains, the daily usage of Suter token will achieve 4w, that is almost 3 million US bucks a year.

Much like everyone when investing at Binance, most of them opt for bnb as the fee transaction method. Privacy protection is a very important choice for everyone, so if Suter's penetration price reaches 30-50% of partners, you will have up to 1,000w US bucks in handling costs per year.

5

Keep firmly, the near future should be expected

Suter is not Chainlink, but in the future, I feel increasingly more that it's Chainlink in the privacy globe. The formation of consensus is not a day time or two. It requires technological iteration, improve, and precipitation in the good and the bad of currency costs.

Of course, many people are looking forward to skyrocketing, no-one likes sideways, but the errors of the entire year should not be made again, otherwise you may be a super large sb and miss two "Chainlinks".

Suter might not skyrocket, nonetheless it is a really good project supported by initial technology zk-consnark. As a privacy plug-in, continuous brand-new cooperation with general public chains and dapps is usually Suter's fundamentals and value proposition.

Later on various DeFi and dapp scenarios, you should also see Suter. Maybe someday you will have information about Suter appearing out of a mobile phone, which means you can't believe your eye, remember what Suter.

I considered the picture of the conversation with the CEO of Chainlink. Right here I want to state that Big raise your voice to Suter team, still stick to technologies, behave amazingly, and be yourself, once you provide customers and partners with irreplaceable value In those days, everything will come, seriously, Suter charge! ! !