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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW
Byzantium Release with Wallet Updates: https://blog.ethereum.org/2017/10/12/byzantium-hf-announcement/
PIVX Zerocoin: https://pivx.org/zerocoin-is-coming/
More on zkSNARKS: https://blog.ethereum.org/2016/12/05/zksnarks-in-a-nutshell/
Back in August I made a video explaining the Metropolis update of the Ethereum Network, for those of you who may have missed that one, feel free to check out the link up above in the corner of this video. This Metropolis update will come in two phases; the first being Byzantium, and the second being Constantinople.
With this initial phase of Metropolis comes improved security for lite client wallets, the implementation of zkSNARKS for much more private transactions. If you have a lite client wallet for Ethereum and you want to receive the benefits of this new update, you will need to download the latest version of that wallet. I’ll include a link down below for this information so you can update your wallet if you wish.
The release date for the second phase of this update, constantinople has not yet been announced other than it will be sometime in 2018.
Some other news that you might be interested in is that PIVX will be implementing what is called zerocoin protocol. It’s a privacy feature that’s available thanks to zkSNARKS, also known as Zero-Knowledge proofs, which was developed by the team behind zcash.
These Zero-Knowledge proofs basically remove most of the information about a transaction from public knowledge, the only thing that can be referenced is that an amount of money was sent or received.
Other popular alt coins that are privacy based include:
Monero, Zcash, Komodo, and Dash.
Lastly, I recently learned of an awesome new project called Etch. The team is based in the UK and they are delivering guaranteed payments, in real time as you are working. This is thanks of course to smart contracts.
Right now Etch is focused on helping those who rely on timely paychecks, more specifically, those who are in the construction industry. But of course this platform has its goals set on helping any company and subsequently, any individual who relies on a payroll system. There’s no denying the fact that many people live paycheck to paycheck, many times stressing over the fact that they have to wait for their hard earned money to get into their bank account.
It’s important to note that Etch certainly is not claiming to be a magical tool for those who might have trouble budgeting their money. It is however a much better alternative than having to turn to the vacuum that is payday loans.
They also are aiming to be a solution for those needing to send remittance back to their families by providing an ERC20 token card that users would be able to provide copies of to their families so they can access funds instantly.
Etch is a great way to show how blockchain tech can change the everyday lives of so many people, whether or not if they are tech savvy.
It’s also an amazing tool specifically for subcontractors who need a guarantee that their clients will come through with a payment.
If you’re interested in investing in Etch, their ICO is currently live, you will have to invest with Ether as this will be an ERC20 token, but keep in mind that this ICO does end by October 18th, so there’s only a couple days left.