Co-Founder of Ethereum Vitalik Buterin’s Update on Sharding

When Vitalik Buterin released Ethereum with its blockchain platform and cryptocurrency, it held the distinction of being the fastest blockchain network with some of the quickest transaction processing times and lowest transaction fees as compared to its counterparts.

It held that distinction for some time, and for a while, it seemed like it had provided a resolution to the scalability issues that Bitcoin users had been facing for a while. However, those dreams fell flat with the network’s growing popularity as not just a cryptocurrency platform, but also as a blockchain-building solution started to come to play.

With more and more startups using Ethereum to develop their new tokens and networks, coupled with more users utilizing the cryptocurrency, the Ethereum network started to face the same issues as Bitcoin – even if they were not that severe in capacity – and it noticed a hike in its transaction times and transaction fees.

The situation caused Ethereum’s supporters to feel disappointed and its naysayers to gloat in a mood of “told you so”; however, the network was quick to offer solutions to resolve its scalability problems, one of which was the Sharding roadmap that when implemented, would work towards resolving the scalability issues significantly. It plans to operate by segregating the network’s data into more manageable sections.

While most of those plans currently remain on-paper and in the pipeline, it was recently revealed by Vitalik Buterin, Ethereum’s developer and chief scientist, that part one of the sharding roadmap was now completed.

The next phase of Sharding might be completed by March 2018

In a developer meeting, Buterin explained that the sharding specifications available on Github are a good theoretical example of what “minimal sharding is going to look like.”

He further mentioned that the next phase of the roadmap would be completed in less than two months from now, or at least, that is what the initial pace of development points towards.

Elaborating on the development plans, Buterin explained that the update would first be tested on specific applications such as “stateless clients.” Then, once it is ready for deployment, it will be analyzed on test networks.

In the meantime, potential users are moving to other platforms

While it is understandable that the development of an intricate protocol or update cannot be rushed as it is always better to offer a healthy solution than a half-baked product to any segment of users, it cannot be denied that the scalability issues with Ethereum’s network have been causing some of its users – both developers of new solutions and users of everyday cryptocurrency functions – to move away from the network in favor of newer blockchain platforms such as the 0x protocol.

It will only be beneficial for Ethereum if it can roll out the updates soon that are not just there for the sake of availability but also address the ongoing issues with the network, as that would help the network retain its existing user-base while also increasing the chances of new users going with its platform rather than its competitors.

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Blockchain-Based Content Sharing Platform Clout Was Listed on a Cryptocurrency Exchange

A blockchain-based content sharing platform called Clout has recently been listed on its very first cryptocurrency exchange.

Clout is being listed on Coinbene, a Singaporean exchange that offers its trade in pairings of BTC and ETH.

This is big news for the relatively unique platform, not just because it marks the very first time that its token has been listed on an exchange, but also because it is just a month after its initial coin offering (ICO) was completed, showing that they the project leaders are interested in providing liquidity for token holders.

It was mentioned by the company that it would be listed on more exchanges by February 1.

What is clout?

Clout is a distinctive initiative as it is one of the very first blockchain based platform that revolves around content generation and sharing.

The platform aims to serve as the starting base for information about everything related to the cryptocurrency industry. It will focus on content management through the community, which will be able to decide what kind of content the platform’s users will be interested in.

The content’s contributors will also be rewarded through one of the platform’s tokens. This is to ensure that the platform would garner the attention of high-quality content contributors which will also enhance the possibility of higher user retention in the long run.

For now, the cryptocurrency community discusses daily updates, issues and suggestions through various platforms, the most popular and mainstream of them being Reddit, Twitter, individual telegrams and Steem. However, Clout is aiming to change this and bring those segregated sections of the community together by offering them one platform that provides them with everyday insight like Reddit while also connecting them to experts like Twitter.

Adding the motivation of the contributors’ efforts being rewarded tangibly, Clout could set a threshold by being the very first company that revolutionizes how information is shared over the internet.

Clout has two tokens

The first token, CLOUT, is the one that was distributed through the platform’s ICO and this the token which is currently being listed on exchanges for now.

The second token, CLC, is going to be used to incentivize the usage of the Clout platform. Holders of CLOUT will be provided with CLC over time, and additional CLC could be obtained by Clout platform users by generating content for the community. The higher quality the content is – depending on the feedback received from the community – the more chances there would be of the creator getting more CLC tokens.

Users will be rewarded with CLC by participating in other content related activities, such as sharing content created by other users and providing their feedback on the content. These activities are supposed to contribute towards the maintenance of high-quality content throughout the platform.

Clout wants to be the central hub for cryptocurrency news as well

Clout will have dedicated sections sharing the latest news from the community as well as users’ comments on it. For instance, if there is news about a new ICO, then users’ will be given the opportunity to share their thoughts about it so others could be wary of any potential scams and chances for beneficial investments.

On another note, if there is news about a particular country having a specific situation in it related to cryptocurrency, then other users could be notified about it firsthand without having to wait for an online publication to cover the story.

Ambitious & interesting

Since it is a community-based platform, only with active user interaction could we come to know of all of its benefits as well as finding out potential use cases? We’ll watch and see if it rolls out for mass usage soon so everyone could experience it and learn for themselves, the potential benefits of the platform.

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