what happened to daniel larimer and charles hoskinson ?

Visionary Developer and Architect of BitShares, Steemit, and EOS

Dan Larimer is a programmer and the visionary creator behind BitShares, Steemit, and EOS systems. A tech genius and entrepreneur, he specializes in blockchain technology, cryptocurrency, decentralized exchanges, and economical systems. Dan's stated mission in life is: "to observe free market solutions to secure life, liberty, and property for all."

Dan Larimer'south Groundwork

Daniel Larimer graduated from Virginia Polytechnic Institute and State University with a Available of Engineering science (BE) in Informatics in 2003. He became interested in blockchain engineering science during the early on days of Bitcoin in 2009, and began communicating with Bitcoin founder, Satoshi Nakamoto, on a Bitcoin forum. Larimer was concerned about the number of centralized exchanges that were existence arbitrarily closed downwards in those days, and became convinced of the need for "decentralized" exchanges.

His outset invention was the decentralized network BitShares, forth with BitUSD, the start trustless cryptocurrency tied to the dollar.

For more almost EOS, click on the link to see a fascinating and informative interview with Dan Larimer.

Companies and Inventions of Dan Larimer

Larimer adult the blockchain technology known as Graphene, which powers the decentralized network BitShares (2014), the Steemit token cryptocurrency (2016), and Steemit, a social networking site built on the blockchain. His latest endeavor, the EOS cryptocurrency and platform, has been one yr in development and is coming to launch date. He's also the CEO of Cryptonomex, Inc., which is a blockchain technology consulting company that was founded with his begetter, Stan Larimer.

The BitShares Exchange

BitShares is a real-time public financial platform. It offers a "decentralized commutation" for cryptocurrencies, resembling the New York Stock Exchange. A decentralized exchange uses a large network of computers for its operations, in which anyone with a computer can participate. Information technology eliminates the need to put trust into one fundamental authorisation for handling all the money, and is based on blockchain technology, which makes decentralized exchanges possible. The BitShares cryptocurrency token, BTS, can exist used to receive payments for network operations and equally loan collateral. BitShares has been a part of Microsoft Azure Blockchain every bit a service package since 2016.

History of the BitShares Substitution and DPOS

In 2013, while working on designing a decentralized cryptocurrency exchange, Dan Larimer came upwards with the concept that became BitShares. He discussed his ideas with other cryptocurrency enthusiasts, including Charles Hoskinson (later co-founder of Ethereum and Cardano), who helped to develop the project and prepare a business concern plan.  Li Xiaolai, a Chinese Bitcoin multi-millionaire, agreed to fund the revolutionary project. From in that location, Larimer and Hoskinson founded their visitor, Invictus Innovations, and in tardily 2013, they presented the BitShares concept at the Atlanta Bitcoin Conference.

In the process of creating BitShares, Larimer came up with an alternative to cryptocurrency mining in the class it was practiced at the time, which he felt had some serious flaws. So he decided that his projects would utilize a different method called DPOS (Delegated Proof of Stake), a simple algorithm that anyone could utilize on their personal calculator.

In 2015, Dan formed a company called Cryptonomex with some of his BitShares developers, seeking to notice solutions to some of the major obstacles for BitShares 1.0 and other blockchains, namely, scalability and functioning. Six months later, Cryptonomex released BitShares 2.0, based on Graphene, the name of their new blockchain software system. Graphene was capable of 100,000 transactions/2nd, and the most advanced model of governance ever.

Chief Features of the BitShares Platform….Speed

The BitShares platform can process 100,000 transactions per 2nd, and more than under optimal conditions. Allow's compare that with our Visa menu, provided by one of the largest financial institutions in the earth, which can handle on average 2,000 transactions/second, and a maximum of 24,000/second.

Security of decentralized transactions

Traditional cryptocurrency exchanges have their own primal servers which store and control all funds, whereas BitShares provides its users with a decentralized commutation for their fiscal trading, called a DEX.  Fundamental exchanges have encountered numerous problems and risks, such equally theft, hackers, and closures. When traders utilize a DEX, they are in full control of their ain coin by means of their users' private keys, like stiff passwords for an email account, and the DEX itself has no admission to these keys. Thus, a DEX is safer from attacks.

Another rubber feature employed by BitShares is that it is ready up to be controlled past multiple accounts, similar to the multiple permissions required in real life organizations. Again, this creates a system that is less vulnerable to hacking or theft. Users also get rewarded for bringing new users to the platform, since more than users increase the security of the entire network.

Innovations on the BitShares platform

It's possible for users to create their own custom tokens on BitShares, to be used, for example, to operate a crowdfunding entrada for a startup or to promote their business. The user tin decide on the details, such as the name and initial distribution of the token, the trading fees, and other things.

Users have their ain cocky-defined wallet addresses, similar to an e-mail business relationship or other usernames on the Internet.

BitShares maintains a reserve pool of funds where it collects the transaction fees. Besides spending these funds on upkeep and improvements to the network, any user can ask for funding from the pool for a proposed projection. Blessing for this blazon of project will be decided by a vote among other users. This set up allows the platform to be self-sustaining and less reliant on exterior funding.

While withal not as well-known as other pop platforms like Ethereum, BitShares already has many companies edifice on its platform, who find it best-suited for their needs.

Dan Larimar sums upwardly BitShares like this:

On his web log, Dan Larimer says, "BitShares is then many things to unlike people and there are a yard different ways of understanding what BitShares is." BitShares is not the easiest concept for near people to grasp. It'south been called an invention alee of its time. For simplicity's sake, it tin can exist regarded as a network and a community, a banking concern, a ledger, a currency and an exchange.   It's also a business and a software.  Dan Larimer fifty-fifty thinks of information technology as a country.

Bitshares is currently self-funded, self-regulated, and self-sustaining. It continues to be grown and maintained by a decentralized grouping of developers, who have been chosen through stakeholder elections, and are hired directly by the blockchain. At present, Bitshares shareholders accept a funding pool worth $290 one thousand thousand of BTS.

Steemit

Steemit is a social network website congenital on the Steem blockchain, where users earn virtual currency income for interesting content and comments on the site.  Information technology was founded past Ned Scott, of Appics Social Media and a former financial annotator, and Dan Larimer.

I Steemit blogger commented, "Whereas existing social media sites use advert sales to make the founder rich, Steemit is more like a family where thoughts are 'exchanged', stories are told, and passion is shared."

The History of Steemit

Steemit, Inc. was officially launched in 2016.  Dan Larimer and Ned Scott got the idea for the blockchain-based social media site in January of 2016, and with the Graphene framework already in place after BitShares, Steemit was ready to launch past July of the same year.

There was a group of early on miners and people who contributed content during the pre-launch, while the Steemit development squad used that time for testing, and to eliminate whatsoever bugs before the launch date, when an influx of new users was predictable.  On the launch engagement, July 4, the preliminary participants were instantly rewarded with $1.3M worth of Steem Dollars that they had earned for their posts.

Around the same time as its official launch, the platform was hacked, and attackers afflicted well-nigh 260 accounts and stole $85,000 worth of Steem. Simply a few hours later, the state of affairs was rectified, and all compromised accounts of over US $100 were secure once again. Users were able to reset their passwords and gained total admission to all of their funds. Since then, more people continue to sign upward and participate on Steemit.

The Steem Budgetary Organisation- One Currency in 2 Forms

Steemit uses Steem (SMT) cryptocurrency, which is available in two unlike forms for users.

The first form is Steem Power, which provides leverage for the user on the social media network. The more Steem Power i accumulates, the greater their voting ability. Information technology offers motivation for long-term interest and delivery to the platform.

The second form is Steem Dollars. Writers who post quality content on Steemit earn Steem Dollars, and these tin can be converted back into the base of operations Steem cryptocurrency over a vii-day fourth dimension menstruum. This fourth dimension period allows the platform to protect its currency value from fluctuations.

How Steemit Rewards and Earnings Piece of work

There are two means to earn income on Steemit.

The first is by writing a not bad blog post. If that article gains upvotes from other users, a proportionate amount of Steem will be given to the author.

Moreover, notevery vote on the site is worth the same. Rather, the corporeality earned is based on both the number of votes an individual receives, plus the level of Steem Power each of their voters have. One voter could have i,000 Steem Power, while some other has 5,000 or x,000; the greater the Steem Power, the greater the bear on. Therefore, a vote by someone like Ned Scott or Dan Larimer, for example, who have a lot of Steem Ability, could touch a post by hundreds of dollars and attract many more voters to the postal service in the process. This has resulted in something called the "whale chasing civilisation," whereby writers attempt to chase down the large players to become their votes.

The 2nd way to earn is by voting, which is rewarded in the grade of Steem Power. More than Steem Power is received by voting for a successful mail, rather than for i that does poorly, which is an incentive to vote but for high-quality content. Voting by one participant for multiple posts likewise decreases the value of each vote, depending on the fourth dimension between votes. So this feature besides provides motivation for users to be finicky in how they use their voting power.

Content creators receive their initial earnings about 12 hours subsequently the article is posted, and a second round of earnings is issued a month after.

Building on the Steem Platform

Not merely has the Steemit social media site experienced fast growth, the Steem blockchain itself is booming.  According to Ned Scott, "The people showing up to employ this are going directly to the blockchain. What nosotros set out to do is build an ecosystem, and that's exactly what's happening." Entrepreneurs and programmers take already ready up fifty new tools and services, similar SteemMarket, where users tin purchase, sell, or rent goods with Steem.  This makes information technology like shooting fish in a barrel for participants to spend their earnings on a vacation or a new fridge.

Security on Steemit

One of the fundamental aspects of a blockchain system similar Steemit is stiff security. Steemit utilizes a delegated "proof-of-stake" organisation, some other of Larimer's innovations, where the community as a whole vote in the individuals who volition be responsible for verifying transactions. Steemit calls these individuals "witnesses", there are 21 in all, and this is a paid position. Nosotros can think of "proof-of-stake" as similar to a democracy and the witnesses resemble U.S. Congressmen elected by the people they serve. Still, if a witness doesn't do his task properly, unlike a Congressman, he can exist fired.

Steemit's Market place Growth

Steemit now has more than 450,000 accounts (November 2017), and according to visitor reports, 50,000 users have received $30M in Steem earnings since October 2017. Equally of December 2017, Steem's marketplace cap had grown to $US 525M.

EOS

Subsequently creating Bitshares and Steemit, Dan Larimer moved on to develop EOS.IO, a system he expects to exist long lasting and that will become the foundation on which he tin build hereafter inventions.

Initial Money Offering and Launch of EOS

EOS is being developed by a company called Cake.1, and is planned to launch on June 1, 2018, after the longest running ICO (Initial Coin Offer) to appointment. By launch time, it volition have run for ane year and will have raised approximately $1B. The goal is to take one billion tokens sold by launch date, providing widespread distribution to ensure success.

Main Features of the EOS Platform

EOS will innovate a new blockchain architecture, with the aim of solving some of the industry's pressing bug, such as the difficulty in scaling up, the demand for transaction fees, and the lack of interoperability, which prevents dissimilar software and systems from exchanging data on the blockchain. EOS scales to millions of transactions per 2nd eliminates user fees and makes possible quick and trouble-gratuitous deployment of decentralized applications. User accounts, authentication, databases, and asynchronous communication volition all exist available on the platform. EOS also presents itself equally a blockchain operating organisation for companies.

The platform'southward currency and utility token will be EOS, which also provides bandwidth and storage on the blockchain. EOS tokens as well grant holders voting power in the governance of EOS.IO. The full general purpose and smart contract language for the program are beingness worked on by engineers from Apple tree, Google, Microsoft, and Mozilla.

I example of how the EOS platform could be used to deliver data into countries that block certain Internet websites is a proposal by Everipedia, a for-profit online encyclopedia that has presented plans to put their encyclopedia on the decentralized EOS blockchain. Countries that have blocked Wikipedia on their Cyberspace system would not be able to block Everipedia or whatever other content that is bachelor on decentralized networks.

Visionary Programmer and Architect of BitShares, Steemit, and EOS

Dan Larimer is a programmer and the visionary creator behind BitShares, Steemit, and EOS systems. A tech genius and entrepreneur, he specializes in blockchain technology, cryptocurrency, decentralized exchanges, and economical systems. Dan's stated mission in life is: "to notice free market place solutions to secure life, liberty, and property for all."

Dan Larimer's Background

Daniel Larimer graduated from Virginia Polytechnic Constitute and State University with a Available of Technology (BE) in Computer Science in 2003. He became interested in blockchain technology during the early days of Bitcoin in 2009, and began communicating with Bitcoin founder, Satoshi Nakamoto, on a Bitcoin forum. Larimer was concerned about the number of centralized exchanges that were being arbitrarily closed down in those days, and became convinced of the demand for "decentralized" exchanges.

His first invention was the decentralized network BitShares, forth with BitUSD, the first trustless cryptocurrency tied to the dollar.

For more about EOS, click on the link to see a fascinating and informative interview with Dan Larimer.

Companies and Inventions of Dan Larimer

Larimer adult the blockchain applied science known as Graphene, which powers the decentralized network BitShares (2014), the Steemit token cryptocurrency (2016), and Steemit, a social networking site congenital on the blockchain. His latest endeavor, the EOS cryptocurrency and platform, has been ane year in development and is coming to launch date. He's too the CEO of Cryptonomex, Inc., which is a blockchain engineering consulting company that was founded with his begetter, Stan Larimer.

The BitShares Substitution

BitShares is a real-time public financial platform. It offers a "decentralized exchange" for cryptocurrencies, resembling the New York Stock Commutation. A decentralized commutation uses a large network of computers for its operations, in which anyone with a computer tin can participate. It eliminates the need to put trust into 1 central authority for handling all the money, and is based on blockchain engineering science, which makes decentralized exchanges possible. The BitShares cryptocurrency token, BTS, can be used to receive payments for network operations and as loan collateral. BitShares has been a part of Microsoft Azure Blockchain as a service parcel since 2016.

History of the BitShares Commutation and DPOS

In 2013, while working on designing a decentralized cryptocurrency commutation, Dan Larimer came upwardly with the concept that became BitShares. He discussed his ideas with other cryptocurrency enthusiasts, including Charles Hoskinson (later co-founder of Ethereum and Cardano), who helped to develop the project and prepare a business plan.  Li Xiaolai, a Chinese Bitcoin multi-millionaire, agreed to fund the revolutionary project. From there, Larimer and Hoskinson founded their company, Invictus Innovations, and in late 2013, they presented the BitShares concept at the Atlanta Bitcoin Conference.

In the procedure of creating BitShares, Larimer came up with an alternative to cryptocurrency mining in the form it was expert at the time, which he felt had some serious flaws. So he decided that his projects would utilize a different method called DPOS (Delegated Proof of Stake), a simple algorithm that anyone could use on their personal reckoner.

In 2015, Dan formed a company chosen Cryptonomex with some of his BitShares developers, seeking to discover solutions to some of the major obstacles for BitShares 1.0 and other blockchains, namely, scalability and functioning. Half-dozen months later, Cryptonomex released BitShares 2.0, based on Graphene, the name of their new blockchain software system. Graphene was capable of 100,000 transactions/2nd, and the most avant-garde model of governance ever.

Principal Features of the BitShares Platform….Speed

The BitShares platform can process 100,000 transactions per second, and more under optimal conditions. Permit's compare that with our Visa menu, provided by 1 of the largest fiscal institutions in the world, which can handle on average 2,000 transactions/second, and a maximum of 24,000/2d.

Security of decentralized transactions

Traditional cryptocurrency exchanges accept their ain central servers which store and control all funds, whereas BitShares provides its users with a decentralized exchange for their financial trading, called a DEX.  Key exchanges take encountered numerous problems and risks, such as theft, hackers, and closures. When traders use a DEX, they are in total control of their ain money by means of their users' individual keys, like stiff passwords for an e-mail business relationship, and the DEX itself has no access to these keys. Thus, a DEX is safer from attacks.

Some other safety feature employed by BitShares is that it is set to be controlled by multiple accounts, similar to the multiple permissions required in real life organizations. Again, this creates a system that is less vulnerable to hacking or theft. Users besides get rewarded for bringing new users to the platform, since more users increase the security of the entire network.

Innovations on the BitShares platform

Information technology's possible for users to create their own custom tokens on BitShares, to be used, for case, to operate a crowdfunding entrada for a startup or to promote their business. The user can decide on the details, such as the proper name and initial distribution of the token, the trading fees, and other things.

Users accept their ain self-divers wallet addresses, like to an electronic mail account or other usernames on the Internet.

BitShares maintains a reserve puddle of funds where it collects the transaction fees. Likewise spending these funds on upkeep and improvements to the network, any user tin can enquire for funding from the pool for a proposed project. Approving for this blazon of project will be decided past a vote among other users. This set up allows the platform to be self-sustaining and less reliant on outside funding.

While nonetheless not as well-known as other popular platforms like Ethereum, BitShares already has many companies edifice on its platform, who find it best-suited for their needs.

Dan Larimar sums upward BitShares similar this:

On his blog, Dan Larimer says, "BitShares is so many things to unlike people and in that location are a thou different ways of agreement what BitShares is." BitShares is non the easiest concept for most people to grasp. It's been called an invention ahead of its time. For simplicity's sake, it can be regarded as a network and a community, a bank, a ledger, a currency and an substitution.   It'due south as well a business and a software.  Dan Larimer even thinks of it every bit a country.

Bitshares is currently self-funded, self-regulated, and self-sustaining. It continues to be grown and maintained by a decentralized group of developers, who have been called through stakeholder elections, and are hired directly by the blockchain. At present, Bitshares shareholders accept a funding pool worth $290 1000000 of BTS.

Steemit

Steemit is a social network website built on the Steem blockchain, where users earn virtual currency income for interesting content and comments on the site.  It was founded past Ned Scott, of Appics Social Media and a former financial analyst, and Dan Larimer.

I Steemit blogger commented, "Whereas existing social media sites use ad sales to brand the founder rich, Steemit is more similar a family where thoughts are 'exchanged', stories are told, and passion is shared."

The History of Steemit

Steemit, Inc. was officially launched in 2016.  Dan Larimer and Ned Scott got the idea for the blockchain-based social media site in Jan of 2016, and with the Graphene framework already in place after BitShares, Steemit was set to launch by July of the same twelvemonth.

There was a group of early miners and people who contributed content during the pre-launch, while the Steemit development team used that fourth dimension for testing, and to eliminate whatever bugs before the launch engagement, when an influx of new users was anticipated.  On the launch date, July iv, the preliminary participants were instantly rewarded with $1.3M worth of Steem Dollars that they had earned for their posts.

Around the same time as its official launch, the platform was hacked, and attackers afflicted about 260 accounts and stole $85,000 worth of Steem. Only a few hours later on, the situation was rectified, and all compromised accounts of over US $100 were secure again. Users were able to reset their passwords and gained total access to all of their funds. Since and so, more people continue to sign upwards and participate on Steemit.

The Steem Budgetary System- One Currency in Two Forms

Steemit uses Steem (SMT) cryptocurrency, which is bachelor in two different forms for users.

The get-go form is Steem Power, which provides leverage for the user on the social media network. The more than Steem Power ane accumulates, the greater their voting power. It offers motivation for long-term interest and commitment to the platform.

The second grade is Steem Dollars. Writers who postal service quality content on Steemit earn Steem Dollars, and these tin be converted back into the base Steem cryptocurrency over a vii-day time flow. This time period allows the platform to protect its currency value from fluctuations.

How Steemit Rewards and Earnings Work

At that place are 2 means to earn income on Steemit.

The outset is past writing a great blog post. If that commodity gains upvotes from other users, a proportionate amount of Steem will exist given to the author.

Moreover, notevery vote on the site is worth the same. Rather, the corporeality earned is based on both the number of votes an individual receives, plus the level of Steem Power each of their voters have. One voter could accept i,000 Steem Power, while another has 5,000 or 10,000; the greater the Steem Ability, the greater the affect. Therefore, a vote past someone like Ned Scott or Dan Larimer, for case, who have a lot of Steem Power, could bear on a post by hundreds of dollars and attract many more voters to the mail in the process. This has resulted in something called the "whale chasing culture," whereby writers endeavour to chase down the large players to get their votes.

The second manner to earn is by voting, which is rewarded in the form of Steem Power. More Steem Ability is received past voting for a successful mail, rather than for ane that does poorly, which is an incentive to vote only for high-quality content. Voting past i participant for multiple posts also decreases the value of each vote, depending on the time betwixt votes. So this feature also provides motivation for users to be choosy in how they use their voting ability.

Content creators receive their initial earnings about 12 hours after the article is posted, and a second round of earnings is issued a calendar month later.

Building on the Steem Platform

Not only has the Steemit social media site experienced fast growth, the Steem blockchain itself is booming.  According to Ned Scott, "The people showing up to use this are going directly to the blockchain. What we set out to practise is build an ecosystem, and that's exactly what's happening." Entrepreneurs and programmers have already fix 50 new tools and services, like SteemMarket, where users can buy, sell, or hire goods with Steem.  This makes it easy for participants to spend their earnings on a vacation or a new refrigerator.

Security on Steemit

I of the key aspects of a blockchain system like Steemit is stiff security. Steemit utilizes a delegated "proof-of-stake" system, another of Larimer's innovations, where the community as a whole vote in the individuals who will be responsible for verifying transactions. Steemit calls these individuals "witnesses", there are 21 in all, and this is a paid position. We can call back of "proof-of-pale" every bit similar to a republic and the witnesses resemble U.S. Congressmen elected by the people they serve. Even so, if a witness doesn't do his job properly, different a Congressman, he can be fired.

Steemit's Market Growth

Steemit now has more than 450,000 accounts (Nov 2017), and according to company reports, 50,000 users have received $30M in Steem earnings since October 2017. As of December 2017, Steem's marketplace cap had grown to $US 525M.

EOS

After creating Bitshares and Steemit, Dan Larimer moved on to develop EOS.IO, a system he expects to exist long lasting and that will become the foundation on which he can build future inventions.

Initial Coin Offering and Launch of EOS

EOS is beingness developed past a company called Block.One, and is planned to launch on June 1, 2018, later the longest running ICO (Initial Coin Offering) to date. Past launch time, it will take run for one year and will have raised approximately $1B. The goal is to have one billion tokens sold by launch engagement, providing widespread distribution to ensure success.

Master Features of the EOS Platform

EOS will introduce a new blockchain architecture, with the aim of solving some of the industry's pressing issues, such as the difficulty in scaling up, the need for transaction fees, and the lack of interoperability, which prevents different software and systems from exchanging information on the blockchain. EOS scales to millions of transactions per 2d eliminates user fees and makes possible quick and trouble-complimentary deployment of decentralized applications. User accounts, authentication, databases, and asynchronous advice will all be available on the platform. EOS also presents itself as a blockchain operating arrangement for companies.

The platform's currency and utility token will be EOS, which likewise provides bandwidth and storage on the blockchain. EOS tokens also grant holders voting power in the governance of EOS.IO. The general purpose and smart contract language for the program are being worked on past engineers from Apple, Google, Microsoft, and Mozilla.

Ane example of how the EOS platform could be used to evangelize information into countries that block sure Internet websites is a proposal by Everipedia, a for-turn a profit online encyclopedia that has presented plans to put their encyclopedia on the decentralized EOS blockchain. Countries that have blocked Wikipedia on their Internet organization would not be able to block Everipedia or any other content that is bachelor on decentralized networks.

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