Author: Samuel

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Wings

What is Wings?

Wings is a unique blockchain platform that is designed for community services. The idea behind Wings is to create a community where users can seed and nurture their projects.

This blockchain platform also helps this cause by providing an avenue where developers and users who are interested in these causes can nurture their projects, with the aim of making sure that the projects eventually get launched and released to the masses.

Other than offering a platform to launch projects, Wings is also useful in garnering support and promotion for new projects. All this is made possible thanks to their organizational structure, a model referred to as A Decentralized Autonomous Organization (DAO).

Through DAOs, Wings provides an avenue for independent governance in organizations, self-determination, operations, and management by executing smart contracts, and leveraging the services on an immutable blockchain platform.

There are a lot of ideas that have been borrowed from other successful blockchain projects, which have been combined successfully in Wings. Some of these include smart contracts, security for federated funds, forecasting markets, governance models and attention rewards.

By design, Wings is meant to encourage the community around it to identify proposals for projects that have a very high possibility of yielding high returns and push them to the forefront of development and attention. Such projects eventually attract investment from interested investors.

Through the decentralized forecasting ecosystem, Wings is able to offer incentives to those who hold Wings tokens. This is supposed to encourage them to put in more effort into making decisions that eventually help them maximize their ROI and rewards.

What is the problem that Wings solves?

Ever since Bitcoin, a lot of blockchain projects have come up in the past. All these have different promises to the investors, but not all of them eventually live up to expectations.

Many are those who have invested their hard-earned money in such projects, only for the projects to turn into scams, and in the process, the investors lost their money.

This is one of the biggest challenges that is also affecting the adoption of blockchain technology. Most people have read and heard about such gory stories, projects that never lived up to their expectations.

On Wings, the community and developers try to ward off inappropriate projects. Developers are encouraged to push their projects to the platform so that the entire Wings community can have a look at their prospectus. Upon further discussion, the community can agree on the feasibility of a project, and the possibility for success.

This makes work easier for both the developers and the Wings community. On the part of the developer, they get a confidence boost and know they are on the right track. They can also come away with investors in their project.

Another problem that Wings tries to solve is that of failed investments. This is often possible when people invest in a project that is inappropriate. There are experts on Wings and members of the community who have a high likelihood of knowing about the project that a developer is pitching.

As a result, if the project is not feasible, the entity behind it will be made aware. This also helps would-be investors prevent the risk of putting their money in a project that will eventually fail.

The process of submitting projects to the Wings community is also a means of filtering out unworthy submissions. This makes work easier for a lot of people. Other than filtering out proposals that are deemed unworthy, the successful ones subsequently get the backing they need.

Apart from the backing, these projects are pushed forward to the community, and this gives the developers an unprecedented promotion, so they only need to figure out how to take advantage of this backing and ride it to success.

How does Wings solve the problem?

Wings basically uses a decentralized forecast market to arrive at the decisions as to whether a DAO project proposal has the potential to succeed or fail. There are so many possibilities yet to be actualized following the emergence and understanding of swarm intelligence. Swarm intelligence is all about gathering information and acting on the information obtained through self-organized, decentralized systems.

Through this, the possibilities for creating new methods and tools through which event prediction and decision consensus can be done is immense. There is a reward protocol for those participants who present new proposals to the Wings community, as do those who forecast the ability of the DAO project to meet set milestones, including raising funds.

As a result, Wings uses an incentive system to foster a sense of cooperation. The forecasts for such projects are made according to expectations of loss and gain. Because of this, there is a possibility of participants missing rewards because of their choices, and as a result, this encourages them to proactively research on the projects that are presented to them before they make their forecasts.

Wings is a system that by design, awards decisions that are well-informed and make correct predictions about projects that are proposed to the community.

What makes Wings better than the competitors?

There are some features inherent to Wings that set it apart from any of the projects that are currently running on blockchain or otherwise, that are designed with the same goal.

Multidimensional Markets

Wings uses extra-predictive applications to make forecasts on projects that have been presented to the community. These applications combine the expected outcome and the decision to make a forecast. In multidimensional markets, token holders are often requested to predict some of the important decisions, and at the same time give a perceived view of the value of the tokens they hold should their prediction come to pass.

After the time to the decision has lapsed and the prediction turns out to be true, the blockchain evaluates the value of the token and the holders who came closest to the right prediction get rewards.

There is a lot of flexibility in implementing this forecast pattern. A common scenario would see token holders asked to predict the success of a DAO project, based on the amount of money that they believe the project can collect in the backing phase of the campaign.

After the forecast period is closed, the project is released on Wings, complete with a unique set of tokens and contracts, and the project can then begin the backing phase. Once the campaign is over, the funds collected from the blockchain is announced, and the token holders who came closest to predicting the actual figure that would be raised get their rewards.

These forecasts can also be used in decision making for DAO proposals that might involve milestone payments to contractors, for changing the core operating ruleset of the DAO or on work that should implement a capability or feature on Wings.

Rating Forecasts

Over time, people who participate in forecasting on Wings get public ratings according to how close they come to making the correct predictions. To do this, Wings uses a liquid DAO governance system, which establishes the protocol for delegating votes. As a result, a token holder is able to delegate (loan) another token holder, especially those who have a higher reputation on Wings than they do.

Forecast ratings on Wings determine the nature of the rewards that the delegates and token owners get. An individual with a high rating is someone who has constantly outperformed, and as a result, they have a good reputation. Therefore, other token holders would not have qualms about loaning them their forecasting rights. This, in essence, creates a meritocracy in the Wings decision-making system.

The forecast ratings for individual accounts will either increase or decrease with each round of forecasting that they participate in, and also depending on the forecasting activities of the token holder. Wings has an equilibrium point for forecasts, upon which ratings do not change. Ratings increase in lieu of the accuracy of the predictions and decrease proportionately.

Another factor that determines the forecast rating is the outcome of the proposal submitted to the community for review. In case the proposal is flagged for spamming, the account that submitted the proposal gets penalized. On the other hand, some proposals might not generate a lot of interest, therefore attracting very few participants. Some might also have a very shallow forecast spread. In such a case, the forecast rating is not penalized. However, depending on the results of the forecast, the ratings will still increase or decrease. In the event that the proposal did not attract a lot of participants, yet it still had a good number of forecasts, the account that submitted the proposal will enjoy an increased forecast rating.

The way forecast ratings are designed, they die a natural death. The natural decay is reset whenever a forecasting event is ready, and if the token holder does not participate in subsequent forecasting events, eventually their forecast rating drops to nil. This is a mechanism that was put in place to encourage more people to play an active role in the forecasts because these projects eventually affect their lives. At the same time, by involving a lot of people in the forecasting process, users on Wings can look forward to better decision making and distribution.

How can Wings be categorized?

Wings is a governance blockchain platform for projects, and it provides incentivized forecasting services.

What’s Wings’ vision on Security?

Security is one of the primary concerns of the Wings platform, especially when it comes to the collected funds and smart contracts. To build a fortress, there are different innovative ideas that have since been implemented, including last case emergency recovery, functional programming, and formal verification of the contract code.

Last Case Emergency Recovery

This is done through the RSK federation. The RSK federation is a number of companies in the Bitcoin ecosystem whose purpose is to act as gatekeepers for transactions. Any BTC that is deposited in the blockchain has to be linked to a side chain with a multi-signature key of the RSK. For this reason, therefore, users can only withdraw BTC after a majority of the members of the federation have confirmed the transaction on the side-chain.

Functional Programming

Functional is a situation where instead of using procedures or objects to serve as the building blocks of any program, functions are preferred. Functions are simple mathematical equations that determine the nature of the relationship that exists between entities in the blockchain.

According to recent research, using an Ethereum VM bytecode producer to extend the functional language compiler can help developers reduce some errors that are common on the blockchain. Wings is currently using only the languages supported. However, in the long run, plans are in place to provide funding for and support the development of a functional language support for the DAO smart contracts.

Smart Contract Verification

By verifying smart contracts, this is a representation of contracts that offer an assurance the contract will perform the role it is written to. The process tests all the code to determine their feasibility for all the possible outcomes, states, and inputs. Wings has automated provers that verify code branching and conditions for execution.

Examples of Wings use cases/applications

By default, the Wings platform is supposed to reduce the level of on-boarding that users often experience when using new platforms. To do this, Wings allows users access through platforms that they are used to, like a chat messenger.

Through messengers and chatbots, users can start using the Wings platform almost immediately, and all they need is personal knowledge of how to use their messaging apps and chatbots

Chatbots

Wings is built to work with the popular messaging networks, including Slack, telegram, WeChat, Facebook Chat and probably many others that might come up in the foreseeable future. Wings will deploy an IM HUB. Through this, users can communicate across different chat networks, enjoying the best-unrivaled experience without necessarily having to switch from one service to the other. With the Wings chatbots, users are able to perform the following seamlessly:

  • Follow other Wings users
  • Manage graduated DAO projects
  • Predict the success of project proposals
  • Discuss opportunities
  • Learn more about DAO projects
  • Manage project proposals

All sensitive operations like signing transactions are delegated to a sandbox on the web client for security reasons. This allows users to engage an operation in the messenger platform, and sign off on a web client.

Resources

https://coincheckup.com/coins/Wings

https://www.wings.ai/

https://wingsfoundation.ch/

https://blog.wings.ai/https://wings.zendesk.com/hc/en-us

https://wingsfoundation.ch/docs/WINGS_Whitepaper_V1.1.2_en.pdf

 

Posted on

iExec RLC

What is iExec?

The whole world is excited about cloud computing right now, and for a good reason. There are so many amazing projects, apps, and services that have come to be thanks to cloud computing.

iExec is a solution that is taking cloud computing to the next level, by decentralizing it. essentially, this is all about making something that is already great, even better.

The idea behind iExec is to provide decentralized apps that run on the blockchain a scalable, easy to access and secure platform by making computing resources and data sets available. iExec is built on Ethereum smart contracts.

There is a lot of research that has gone into the iExec project regarding Desktop Grid computing. The Desktop Grid is also referred to as Volunteer Computing.

It is a scenario where users volunteer their underutilized computing resources to the internet, in the process making it possible to run humongous parallel applications that would in most cases be very expensive to run, especially since they would demand a supercomputer.

In order to meet the demands and challenges that come with this kind of technology, iExec is based on XtremWeb-HEP. This is an open source Desktop Grid software that is solid and has matured over the years.

Xtrem-HEP allows iExec to implement a number of features core to successfully seeing through the vision of decentralizing cloud computing, such as the availability of hybrid private/public infrastructure, deploying virtual images, supporting multiple users on the platform, fault tolerance, accountability, security, data management and so much more.

The internet, as we know it, is amazing. What iExec is doing, upon fruition, will make the internet even better. This is the next step in the internet revolution.

What is the problem that iExec Solves?

There have been a lot of challenges that do not just face the internet, but also blockchain computing since its inception some years back. Ethereum is one of the blockchain projects that has presented an innovative approach for running decentralized apps. Users on Ethereum are able to write smart contracts which are eventually run on the virtual machine.

With this in mind, it is possible to build and execute important services like crowdfunding, finance, insurance, investment and predicting trends in global markets. All of these are services that at the moment are centralized, and are under the control of the respective entities behind them.

Different blockchain projects have shown a lot of promise. However, most of these suffer from limited computing resources through which the decentralized apps can run.

Other than that, other challenges include a high latency protocol, inefficient virtual machines, and insufficient space. The fact is that over time, blockchain platforms will overcome these challenges. However, the demand for additional capabilities will keep increasing, and this poses serious questions on the feasibility of blockchain projects.

Other than the inherent blockchain challenges, there are also challenges that have plagued conventional computing infrastructure over the years. Let’s look at complete decentralization of apps, for example. The current cloud infrastructure is unable to meet the demands of these projects. Besides, there is already an outcry over the insufficient computing power through which scientific enterprises and power-hungry data industries can run large applications, and process large chunks of data.

This kind of computing power is only available through High-Performance Computing infrastructure (HPC) and the cloud. Unfortunately, these solutions are not affordable either.

This makes them a preserve of the very few who understand the structure and operation and can also afford them. This also effectively locks out innovative small businesses from being a part of the great internet revolution, because more often they do not have the experience, expertise and cannot afford to run HPC platforms.

Their only alternative is to work with the popular cloud infrastructure vendors like Amazon, who unfortunately are very expensive, especially when running applications and services that are resource intensive, such as GPU rendering.

Besides, operating a data center is a resource-intensive affair. You need a serious cooling system when running servers, which combined together, consume a lot of energy.

The ramifications of this will not just affect your balance sheet, but the impact on the environment is also obvious. Looking at such challenges, it is imperative that the cloud needs to be decentralized. By enabling blockchain technology on the cloud, we can also look forward to a low cost of infrastructure utilization.

How does iExec Solve the problem?

iExec plans to build a decentralized cloud infrastructure, through which they can support distributed applications based on the blockchain platform.

This will also make high-performance computing cost-effective, which is ideal for innovative small businesses and individuals who have in the past been somewhat locked out of experiencing the best of cloud computing. In essence, iExec is making cloud computing open to everyone.

By decentralizing the cloud base on the blockchain, entities and individuals are now able to experience affordable, secure and immediate access to some of the best computing infrastructure, giving them a competitive edge that they were lacking before.

The decentralized apps on iExec will be able to look for and make use of all the computing resources that are available at their disposal, including servers, datasets, and applications.

By decentralizing the cloud, iExec will create new frontiers for investment through the aggressive use of the current infrastructure available.

This is possible because companies on iExec will be offering computer farms, storage, data provision centers, SaaS applications, web hosting and so much more, allowing businesses to engage one another without all the red tape that exists currently.

To tackle the energy concern with respect to air conditioning and running the servers, iExec is getting servers away from data centers.

This will eventually make access easier and affordable for users, and in the long run, a distributed cloud will help to decrease the environmental footprint that these data centers have been amassing over the years, and at the same time bring them as close to consumers and producers as possible.

All decentralized businesses are catered for. The following are some of the respective needs of such businesses that iExec takes into consideration:

  • Decentralized app providers should be able to perform their computations off the blockchain, on demand.
  • A drastic reduction in the cost of computing for decentralized apps by the app providers, through a reliable, robust and safe computing infrastructure.
  • Access to a wider market pool for data providers, especially when they integrate their products and services into the iExec marketplace
  • Increase ROI on existing infrastructure, and monetize underused computing resources by server providers.

What makes iExec better than the competitors?

iExec is offering several benefits that make it one of the best alternatives for anyone who is interested in cloud computing, without the traditional hindrances that have made cloud computing difficult to access.

Energy Consumption

Traditionally, data centers are very greedy when it comes to energy consumption. This doesn’t only apply to managing the servers, but also for cooling purposes. To address this challenge, iExec is moving servers away from data centers. A distributed cloud service therefore eventually will reduce the energy consumption.

Affordable

The cloud as it is right now is very expensive for small businesses. iExec is introducing a means of utilizing the underused computing resources, which makes sure that everyone has access to affordable cloud services. In fact, the current existing computing infrastructure should also benefit from new market frontiers, through which they can experience aggressive usage.

Resource Use

Decentralized apps are not resource intensive. Take an example where a smart contract should execute a resource intensive algorithm for a cryptographic function. iExec makes it easier for the smart contract to get access to a computer, and once it has executed the function, the payment is instant.

Organized Market Place

iExec is creating an organized marketplace where users are able to find any of the computing resources that they need. This particularly applies to those who are looking for new technology with affordable GPU usage.

Other than that, it is very easy to advertise computing resources to anyone who needs it. The situation at the moment is that the large cloud providers are the only ones who are able to attract and serve most users. Through iExec, however, even smaller cloud providers have a fair chance.

Service Quality

The provision of cloud services is done under an SLA (Service Level Agreement). This determines the conditions for correct use of computing resources. Vendors, for example, must guarantee quality services through measurable metrics which can be audited as proof of compliance with the SLA.

By design, the blockchain features resource use traceability, which makes it possible for providers and customers to ascertain that the SLA has been duly fulfilled. The SLA also explains the roles of each party, especially in terms of reporting faults, and payment for compensation should there be a breach in the SLA.

Easing Data Access

One of the benefits that iExec has over the competition is that it is bringing data as close to consumers and owners as possible. Through distributed cloud computing and shared resources, iExec is doing away with the need for expensive supercomputers. Individuals are now able to use basic computers, laptops, and even their smartphones to access whatever they need on the blockchain.

A distributed cloud means that processing intelligence is moving to where the data is. therefore, data movement is reduced, and in the process improving latency, quality of services rendered and latency.

How can iExec be categorized?

iExec is a decentralized cloud computing platform built on blockchain that offers a decentralized marketplace for cloud resources. It is an innovative space where users and entities are able to monetize their servers, applications and data sets.

What’s iExec’s vision on Security?

iExec offers security in the following levels:

  • Communication

It is expected that sensitive data might be exchanged within the network. For this reason, iExec uses XWHEP middleware to offer private communication through the TLS protocol. This identifies the communicating parties within the network and encrypts the communication messages. The TLS protocol uses an electronic key to encrypt all communication.

  • Authentication

To execute any command on iExec, you will require more than just connecting to the scheduler. Clients and workers must have valid credentials to enable the scheduler to identify them. the acceptable credential types on the server include login keys, X509 certificate, OpenId, and OAuth.

  • Authorization

Once authenticated on the server, users will acquire user rights. The user rights determine the level of authorization, which will either allow or deny the user the ability to execute their requested actions. Authorization is classified from most privileged (super_user) to least privileged (standard_user).

  • Access Rights

All objects on iExec have owners. Owners have full access to their objects by default. However, depending on the access rights to the objects, any user should have access to objects, even the ones they do not own. Access rights, therefore, can either deny or allow access to the objects that users are associated with.

  • Confinement

XWHEP authorizes all identities and access rights to objects. As a result, it also confines all the objects that it manages. A group of authorizations and access rights within XWHEP is referred to as a confinement. Jobs, data, and applications are confined, as are workers, clients and users.

Through confinement, distributed entities like workers and clients are allowed or denied read, write and execution access to the objects confined.

  • Data

Data is exchanged over the iExec network between servers, clients, and workers. The security protocol for data security is covered under communication security through TLS protocol and encryption.

Examples of iExec use cases/applications

iExec Marketplace

This is an open and global market fully driven by demand and supply for cloud services. Providers are able to define a price for the services they are offering, while users have access to computing resources on demand.

iExec SDK

The iExec SDK offers JS and CLI libraries through which developers should be able to overcome some of the scalability challenges inherent to Ethereum, thereby executing their services through iExec off-chain.

DApp Store

This is the store where all the decentralized apps on iExec are listed. Developers can use this to improve their visibility, monetize their apps, while users, on the other hand, are able to execute the apps that they need.

Data Wallet

Through this wallet, data providers should be able to monetize their decentralized assets on the market, supported by high-level security. This will help propel innovation and challenge disruptive ecosystems.

Resources

https://coincheckup.com/coins/iExec-RLC

https://iex.ec/

https://medium.com/iex-ec

https://steemit.com/@iexec

https://bitcointalk.org/index.php?topic=1746241.0

https://iex.ec/whitepaper/iExec-WPv3.0-English.pdf