Now in this video, I want to talk to
you about some very interesting topics.
I reddit launching there.
ethereum based tokens, which will
introduce many users around 300 million
users to the ethereum platform.
Then I also wanted to talk
to you about wrapped Bitcoin.
what's happening in the defi
space and why this is just great.
I also want to show you an interesting
ethereum 2.0 staking rewards calculator,
some news about chain link and some
news about the eth 2.0 launch dates.
A lot of interesting information
packed into this video.
I'm sure you'll find it super exciting.
My name's Kierin and I create crypto and
decentralized finance videos to make sure
you are reddit for the next bull run.
If you haven't already, make sure
to hit that subscribe button.
I've got a lot of
interesting videos coming up.
With that said, let's jump right
into the content with reddit.
Now, I am a big fan of Reddit.
I'm using Reddit way too often.
I'm wasting time on reddit but also
reading some interesting stuff.
Also, the, in the cryptocurrency
space, there are some very
good Reddits by degress.
What I want to share with you is Reddit's
biggest cryptocurrency move and they have
revealed two very interesting, coins.
one is for cryptocurrencies called moon.
And another one for a fortnight.
I'll quickly read this article to give
you a little bit of insight about what
is happening, what this is all about.
Reddit has finally made a move to
tokenize its community points system,
unveiling a beta test of two tokens
based on the ethereum network.
The trial will initially roll out with
two subreddits, the cryptocurrency
subreddit, and the fortnight
subreddit, and both of them have 2
million subscribers between them.
One thing you have to
know with this beta test.
This platform is running
on the rinkseby testnet.
Now these tokens, t these reddit
tokens, moon and brick will be running
on the ethereum test net, but it's
not going to be like the main net.
It's going to be the rink speed test net.
That means these are basically
like, fake ERC20 tokens.
I mean, they're real from the technical
aspect, but they won't have any value.
Hopefully in the future
when this beta test is over.
From the information that I have gathered,
all these tokens will be transferred
one to one to the ethereum main net.
Hopefully when this beta test is
finished reddit, we'll implement this
concept to many different subreddits.
And I think this, this is fantastic
because even though 300 million
users are going to be confronted
with any ethereum wallet.
They won't realize that it's happening.
It's probably going to be low key.
It's going to happen in the
background, but they'll start to
realize like people can send money.
One user can send money, money to
another or tokens to each other.
I think this is just great because in
a way, this is pushing adoption without
users actually knowing how the technology
works, like most users won't really know
that the backbone of this whole concept
is the ethereum blockchain, but they'll
be using it nonetheless, and I think
that's one of the key aspects to adoption.
Users would have to be able
to use a technology without
understanding how it's used.
They will just press a button
send 10 coins to someone else,
and these coins will have a value.
I think that's a little bit the
vision that the Reddit management
has with this cryptocurrency test
that they're going through with.
And I'm super excited about that
because Reddit, in my opinion, is
one of the main pages of the internet
with the amount of users going to it
and with the amount of content that
is produced, many different platforms
only get their information from Reddit.
I'll definitely be making a video
to show how you can actually install
a vault and participate with this
cryptocurrency test on Reddit if
that's something that interests you.
What I'm actually hoping for is that
many different companies are going to
see the successful tests done by Reddit,
and are also going to start implementing
the same concept onto their platform.
Wouldn't it be fantastic where you
interact with people, you can actually
earn maybe a little bit of money and then
you can send that money to maybe another
platform and now you interact with people.
I think this is revolutionary and
the actual value system on top
of the internet layer that the
ethereum blockchain is building.
So I can't tell you how bullish I am.
It's actually mind blowing how
fast this adoption is happening.
And I'm seeing how everything is now
starting to slowly fall into place and
becoming this vision of a value system
on top of the internet where many people
can interact and send money to each
other send value to each other cause
that in the end that's what it is.
Alright.
Talking about value: wBTC has
had another breakthrough and the
breakthroughs in the monetary value
and 1000 wrapped Bitcoin were minted.
That means a Bitcoin was
minted for an ERC 20 token.
That erc20 token is wrapped bitcoin wBTC.
And the great thing about it
is that this wBTC can be used
on the ethereum blockchain.
So that means you've got the
unique value proposition of Bitcoin
running on the ethereum blockchain.
You've got the store of value of
Bitcoin with the ethereum blockchain
capabilities, meaning that you can
use the store value of Bitcoin in
many decentralized finance apps.
The amount that has been locked up in
wrapped bitcoin is around 1,000 BTC,
which were wrapped yesterday, and that
brings the total amount of Bitcoin wrapped
in the WBTC ERC 20 token to 2,300 which
is double the amount that is locked
up in the lightning network, which is
proprietary to the Bitcoin ecosystem.
The thing, it's crazy that there's a
lot more Bitcoin locked up in wrapped
Bitcoin as an ERC20 token than Bitcoin
locked up in the lightning network.
I think it's a very positive signal for
the whole decentralized finance ecosystem.
If you're interested in becoming a
validator or you're also just want
to stay on the staking pool, like
rocket pool, if you haven't seen that
video, I highly recommend watching it.
It's pretty popular at the moment.
Then if you're interested in one of these
two things, then I'm sure you will find
this website very interesting because
they have a staking calculator; staking
rewards calculator that allows you to
plot in a lot of different information.
You can add the amount of, ethereum that
you are planning to stake, you can add
the currency, you can change the price.
It's updated to the current price, but
you can also see how much you would
be earning based on another price.
You can also add the monthly
price change in percentage.
So if you expect the ethereum
price to increase around 20%
per year, you can add that here.
You can also add some costs if you've
got some a one time cost if you're
validator at home, maybe you want to
buy a server, you can add these costs.
If you've got maybe a cloud
server or something else.
You always have costs, so you can add
these to make sure that the profit
takes costs into consideration.
What you can also do is
the monthly costs in USD.
If you've got these, if you've
got a lot of recurring costs.
Now for the stake and pool parameters.
This is a great addition.
I haven't seen that in other,
ethereum staking rewards
calculators, you can add some fees.
So, currently it's not really
known what the staking pool fees
are going to be for rocket pool,
but you can make a wide estimate.
Of maybe something that you see
a 0.5% or something like that.
And you can also add, if you
want to reinvest the gain.
So all the, gains that you're receiving
through the staking, they're reinvested.
And that creates compounded interest
which, on its own is very very lucrative.
Now, this is also very important.
This is concerning the
amount of total ETH staked.
You can say, okay, 1.75 staked,
or you can go up to 97%.
Now, depending on how much percentage of
the total supply of ethereum is staked in,
staking pools, in validators and so on,
the return on investment decreases.All
this information is displayed in
a very beautiful graph in earnings
analysis, and you can just click on it.
It will show the break even point
based on your costs and the return
investment that you're getting.
And I think this is good.
I haven't seen this displayed on
other staking rewards calculators.
So I'll link this down below
and you can play around with it.
there are quite a lot of good input
fields that you can change the parameters
to make sure that it works for you
and you can calculate your staking
rewards, your costs pretty accurately.
The next info I want to share
with you is about chain-link.
You may have heard about chain link.
Chain link has had a lot of hype recently.
Quickly in a nutshell, chain link
is an Oracle that makes sure that
decentralized applications get data.
For example, many decentralized
applications get the price data from
chain-link and chain link gathers
this data from many different places,
but it doesn't only have to be
price data, it can be a lot of data.
So chain link make sure that data
from the real world gets added to
the blockchain in a secure way.
A tamper-proof way.
That's the high level explanation
of what chain link is.
Now they've brought out verifiable
randomness for ethereum.
This is very, very, very
important, especially for games.
Especially for games.
Why is it important?
Well.
In blockchain gaming, the thesis is
that a decentralized blockchain based
game will be something that's immune
to the problems of centralized gaming
and the problems of centralized gaming
is mainly focused around the ideas
that either the people who created the
game manipulated it to their benefit.
Now, I don't personally play
a lot of betting games.
I actually don't play any betting
games or games that need a certain
randomness, but I understand that many
people like these type of games and
I think it's great to know that the
creator of the game is not manipulating
the game outcome in his favor.
Being able to prove that this randomness
is actually a real randomness.
by checking it on the blockchain
is something very valuable.
And I think many different
applications, especially gaming
applications, can use that.
It's been actually used by one pretty
popular decentralized finance application.
And that is: pool together.
Pool together is a type of lottery
system where you do not lose any money.
That's how the name no loss
lottery system got coined.
Because many people put money into
a pool, this pool of money gains
interest and some random lucky winner
gets this interest, but each member
that's putting money into the pool can
actually get this money back out again.
I think it's a fantastic way because
I think lotteries are just dumb.
I think it's a waste of money, but this
concept, the concept of pool together
allows many people to participate
in a type of lottery system where
they're not actually wasting money,
but they're actually saving money.
So it's helping them save, but still keep
the concept of having a dopamine rush that
they get through, playing a lottery game.
So yeah, the chain links on
chain verifiable randomness.
A smart contract, which wants to use
a chain links VRF passes along a seed
to the node which then uses it secret
key to generate a random number.
So this information is sent through
smart contracts, and this random
number will be then be taken by
a decentralized finance app.
And the outcome of a game will be
decided through this random number.
I think this is great because then you
can check and you can see and check all
the random numbers, you can maybe see,
alright, this game is really 50, 50% and
it's not rigged in the creator's favor.
So I think this is very good.
It shows that the decentralization
aspect is moving forward a lot and
many decentralized applications
are becoming more and more
trustless, which is incredible
added value to the whole ecosystem.
Having an ecosystem of apps that
you do not have to trust because
you know that the underlying
blockchain works as it should.
You know that the smart
contracts work as they should.
Now, of course, it's still in this
baby steps and there are hiccups
here and there, but I think it's
going in the right direction.
Now, the last topic I want to talk to
you about is ethereum 2.0 launch date.
Now it's unfortunately not as
great news as I like it to be.
And the ethereum 2.0 launch
date has been postponed.
It's not actually postponed,
it's more of a miscommunication,
especially by Vitalik Buterin.
I know I've been talking about the
ethereum 2.0 launch date, and I've
mentioned in a few videos that
it's expected to be 31st of July.
Or sometime in July, and even during
the, ethereum summit, during one
of these talks, an interviewer
asked vitalik: When do you think
the ethereum 2.0, will launch.
I think he actually formulated
in this way: do you think
ethereum 2.0 will launch in July.
Vitalick misunderstood the question
and he didn't hear July and he said,
yes, he thinks they will launch then.
That caused a lot of confusion
among the ethereum community.
That has been discussed
now quite a bit on Twitter.
One developer called AFR,
he goes by AFR on Twitter.
He actually stated that they
are nowhere near the specs.
The ethereum 2.0 specs are not finished.
So it's quite impossible
to launch in July.
So it's quite impossible
to launch in July.
He's called Afri Shoeden.
The ethereum 2.0 testnet coordinator and
yeah, here's the tweets with Vitalik and
AFR: I wouldn't say annoyed, but maybe a
bit frustrated that Vitalik is going on
panels and talking about some launch date.
That's what he says, he says
it does not help at all.
Talking about dates, putting dates
out there that they can not fulfill.
I don't think, he doesn't believe
Vitalik said July and Vitalik
reiterates: yeah, he didn't say July
and he misunderstood the question.
The short answer to this is,
well, hopefully it's going
to be end of this year.
I'm not too worried about that.
In my opinion, it's better that they
make sure that all the bugs ironed
out, make sure that it's already
has been audited, but they make sure
that it's working properly before
they launch the beacon chain.
I prefer that they take their time than
they force a launch and it goes haywire.
Thanks a lot for watching.
If you enjoyed the video, make sure
you leave me one of these thumbs up.
It helps the algorithm.
It helps the channel out
and it's completely free.
You don't have to pay anything
to leave a like, but it
definitely helps the channel out.
Now I'm working on a validator
client installation guide for
Linux, so stay tuned for that.
I'm looking forward to that.
It's a lot of fun and yeah,
with that said, I wish you a
fantastic day and I'll catch you
in the next video have a good one.
Bye bye.
