Subsocial Network Takes Part in Kusama Parachain Slot Bid -Breaking

By November 11, 2021Polkadot
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Subsocial Network Takes Part in Kusama Parachain Slot Bid

  • Subsocial bids for Kusama Parachain slots
  • Subsocial announces a Crowdloan Campaign, with a cap of 100,000 KSM.
  • Crowdloan applicants can enjoy many rewards

Subsocial, a social platform that supports the ecosystem announced it was participating in bidding for one of Kusama’s most sought-after parachain slots. Subsocial invites KSM holders and others to join its crowdloan campaign. The social network will reward the KSM holders with Sub tokens.

It was a huge success that the Parachain Auction launched in June. Kusama is still developing a vibrant and interoperable network of applications after he has taken on eleven projects. Subsocial, an active social network in the Polkadot (Dotsama), community, has the potential of being the first social media platform that taps into the thriving Web3.0 economy. Subsocial will be a valuable asset to the industry. The Subsocial team aims at creating new integrations to showcase all the Dotsama capabilities.

Subsocial feels that the time is right to offer a slot in a parachain. The act, which will allow Subsocial to interconnect with Web 3.0 and increase its liquidity by listing its native SUB tokens on DEXs like Karura, will not only help it achieve its goals but also make the social network a more connected one. Subsocial started a transparent, clear crowdfunding campaign to respond to bid participation. The crowdloan was funded by 16.5million (16.5%) SUB tokens. 15% of that amount will be distributed as guaranteed rewards. 1.5 Million are still available for referral bonuses.

Crowdloan contributions are limited to 100,000 KSM. The standard reward will be 150 SUB for every KSM once the goal has been reached. Important to remember that the reward ratio can change at any time. Subsocial will get rewards if it gets a slot where the bid is lower than the capped limit. Crowdloan users also have the opportunity to receive referral bonuses. Referral codes will be assigned to each participant. Each referral earns a 15-Sub per KSM reward. These rewards will be split equally between referrer (the referee) and referee.

Unused referral funds will be returned by the Treasury to be used in the next crowdloan. A vesting schedule applies to the SUB rewards. Recipients will receive 20% of their rewards. Over the duration of 48 weeks, 80% will become vested. Subsocial will provide updates on crowdloans via its social media channels, such as Twitter, Discord or Telegram.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

Panther Protocol uses a Bouncer Method to Ensure Data Compliance

Panther Protocol is a privacy-focused Blockchain. It is not interested only in solving the issue of surveillance in Web 3.0 infrastructure but also in creating a strong compliance protocol that’s hard to compromise.

The innovative Blockchain project, the Panther Protocol, seeks to address a critical industry flaw in data privacy. On the official website, it is described as an interoperable and end-to-end privacy protocol, with many components. This protocol was engineered to be the privacy infrastructure de facto of DeFi or Web3.

It is designed to make sure that users’ data are not lost or stolen by DeFi-related projects. The project aims to assist users in negotiating the terms of their compliance through onboarding processes like KYC (Know Your Customer) and managing their disclosure evidence, which can be fully signed or partially by end-users.

Analogy of the Bouncer

Oliver Gale (co-founder and CEO of Panther Protocol) used an analogy to describe how the three-tier disclosure and compliance system operates during an interview with DailyCoin.

Gale underlined that, in the existing blockchain landscape, the system already keeps a track record of a user’s details (personal or transactional), and as with a bouncer, the blockchain system already knows pretty much everything about the user.

The Panther Protocol, however, does not follow the same procedure. Gale claims that the Panther Protocol employs three levels of compliance and data disclosure in its decentralized network.

This first tier requires all end-users, similar to what is found in most blockchain systems to provide, to reveal their full information. However, the second tier asks only for the required information to complete a clearance.

There is a third-tier, which is referred to as ‘zero knowledge disclosure,’ where an end-user can actually prove something about a data set without revealing the data itself.

“What if we can prove to the bouncer that I’m able to enter and that I check all of the requirements, without giving him any information. It’s just a green tick box, or a red cross box. So that’s what zero knowledge proofs enable; the ability to prove and verify something about a data set, without revealing the underlying information,”
Gale explained.

Gale says that unlike any other proof of implementation for blockchain technology so far, Gale’s zero knowledge proof uses highly advanced cryptography.

Gale described the system by using an analogy. A person is facing a locked doors and their ability to get in depends on whether they have a key. In this way, Gale enthused that there wouldn’t be a need to ask if the person possesses a key or not.

Zero-knowledge compliance (also known as ZKP) is a technical term that allows end-users who are registered on Panther Protocol to trust any DeFi or blockchain project without the need to reveal any personal data or participate in the onboarding process.

This is possible because the decentralized protocol leverages a private interoperable infrastructure which can interface with other blockchain initiatives like wallets, DEXs, aggregators and other DeFi primitives.

Also, going by Panther’s whitepaper, ZKP must first satisfy three major properties, including ‘soundness,’ which implies that if a statement, or provided proof is found false, the verifier will be required to override the verification.

The second, which is ‘completeness,’ implies that if the statement is true, the verifier will accept it, while the third property, ‘zero-knowledge,’ implies that the verifier should not be able to learn any information aside from the truth of the statement.

To The Flipside

  • DeFi Protocols are still heavily dependent on data disclosure. It is difficult to refuse to provide your personal data.
  • The zero knowledge compliance system may not be widely adopted by existing players in the industry for some time, at least three years.

What are the reasons to care?

Public blockchain, despite its transparency requirements, can compromise the privacy of end-user data by being publicly available. This could make it difficult for the existing problem to be addressed.

Here’s the video interview


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Cudos Partners with DeFi Live in London at a 2-day Conference

Showcasing the hottest DeFi projects and most significant tech breakthroughs in the works, Cudos will sponsor this year’s DeFi Live on November 10th and 11th.

Zebu organizes the event, which spans over 700 participants, 100 speakers, 2000 people worldwide, and takes place over two days.

A virtual conference ensues on the 10th of November, followed by an in-person event at the Kensington Conference & Event Centre in London, finishing with an after-party at a members club, the Arboretum.

DeFi Live will host the best thought leaders from DeFi as well as the most important projects and investors. Cudos, CEO and founder Matt Willis will attend the event. Hawkins (NASDAQ)

Matt Hawkins will have the honour of delivering a keynote speech on Powering The Metaverse at 3:20 pm in the Great Hall of the Kensington Conference & Event Centre in London.

Next, there will be a wealth of other talks, presentations and mentorships sessions in the DeFi space, including but not limited to: The Future of NFT’s, The Renaissance of Money in DeFi and How DeFi can Make the Leap to Institutions.

A series of panels will be held throughout the day, with panelists from Coinscrum and The Bigger Pie. Panel discussions with Cudos partner Ben Carvill, API3 DAO, will be continued later. To listen to the Cudos podcast with API3’s Ben Carvill, click here.

Amongst the guests will be Cudos, delighted and honoured to be event partners of the two-day gathering in London’s Kensington Conference & Event Centre. Cudos CEO Matt Hawkins, founder, had the following to say when asked:

“As far as inaugural events go, DeFi Live has to be one of the most hotly anticipated events of 2021, and we are champing at the bit to conversate with 1000’s of like-minded innovators, investors and enthusiasts. Don’t let the name fool you. This event will span the crypto sphere with NFTs and Metaverse also taking centre stage.”

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

© Reuters. FILEPHOTO: Tourists wait in Holguin Cuba for local musicians, June 11, 2016. Picture taken June 11, 2016. REUTERS/Alexandre Meneghini/File Photo

Marc Frank

HAVANA, Reuters – Cuba will open its borders to tourists next week, opening up new opportunities for travelers who are sick from the pandemic. However, U.S. citizens must jump through hurdles in order to get there, say eight heads of U.S. travel agencies.

Donald Trump, the United States President, ended all cruise ship dockings and reduced flight to Havana. He also eliminated flights from outlying areas. Because they are owned by the military and make financial transactions more difficult, Trump’s administration made most Cuban hotels and bus tours unreachable. These measures remain unchanged under President Joe Biden.

Michael Zuccato of Cuba Travel Services said that the U.S. obstructions are what have made Cuba a more attractive place to do business for over 22 years.

Tensions are rising between Washington and Havana ahead of the protests by island dissidents for Nov. 15, which is the day Cuba opens its borders to foreign visitors.

The challenges are endless at the moment. Mayra Alonso is president of Marazul Tours. She said that Trump, the pandemic, and now Biden are just a few examples. It is interesting to walk the fine line between U.S. regulations and Cuban regulations, she said.

Zuccato shared the same sentiments as the other travelers, saying that booking hotel rooms and transfer funds to the Caribbean islands were major hassles for Americans planning to visit Cuba.

Biden’s campaign promises were believed to be kept by many tour operators. This is an island that has a wealth of history, culture and white-sand beaches.

Collin Laverty from Cuban Educational Travel stated that the U.S. sanctions, which were increased by Trump but maintained by Biden’s administration, are “a huge disappointment.”

According to tour operators, rising tensions between long-term enemies ahead of the protests scheduled for next week are not helping.

According to Eduardo Rodriguez (Transport Minister), Cuba is still open for American citizens who want to visit the island.

According to him, “Today, the United States only has four weekly flights into Havana. We have increased that to 147 per Week, including 77 from Havana.”

U.S. Airlines have added flights to Havana starting next week with an eye on Cuban-Americans returning home during the holiday season.

However, the Biden administration is not indicating that it will allow flights into the provinces.

Tom Popper, founder and former president of insightCuba and CEO of 82° West Consultants, a Cuba business consulting firm, said despite strict travel restrictions to the neighboring island nation, Americans can still go there legally.

“Typically, the U.S. market sees Cuba as a binary choice: either they are permitted to travel to Cuba or they are not, which depends on the most recent actions by the sitting U.S. president,” he said.

Popper explained travel to Cuba is allowed under 12 categories including the Support for the Cuban People category, used by most travelers – journalistic activities, and visiting relatives.

He said many tour operators and travel advisers design trips that are compliant with U.S. regulations.

The detente of former President Barack Obama, who relaxed restrictions and took his family to the country during a historic 2016 visit, saw travel boom.

Trump’s policies were reversed and new restrictions were added. Cuba also closed its borders in the midst of the pandemic.

According to Cuban officials, around 500,000 Cuban Americans traveled home each year between 2018 and 2019.

However, travel by nonCuban Americans plummeted from 498.538 in 2018 after Trump’s Trump administration imposed new sanctions to just 58.547 in 2020, as pandemic lockdowns were implemented, according to the government.

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