16 October, 2022

What is Polkadot(DOT)? and Amazing facts of dot coin?

Scaling Issue with Bitcoin/BTC and Ethereum/ETH

As more people use both blockchains over time, scalability issues in the Ethereum and Bitcoin core networks arise. While Visa and Mastercard's traditional payment systems can process 24,000 transactions per second, ETH networks can only process 30 transactions per second. Both networks' transaction fees rise as block demand exceeds their capacity.

BitCoin($BTC) median transaction size is between 3.3 and 7 transactions per second

So here is Polkadot that somehow solves the limitation of this blockchain.

What is Polkadot(DOT)?

Polkadot is a protocol that links incompatible networks (Bitcoin and Ethereum, for example) blockchains, enabling the transfer of wealth and data. It is also intended to be quick and scalable. The DOT token is used for governance and staking.

As the ecosystem of specialized blockchains known as parachains expands, Polkadot unifies and secures them. The foundation of a truly interoperable decentralized web is provided by Polkadot's apps and services, which can securely communicate across chains.

Polkadot has the following characteristics:

True interoperability
Economic & transactional scalability: Due to its capacity to secure many blockchains with a single group of validators, Polkadot offers unprecedented economic scalability. In order to achieve transactional scalability, Polkadot distributes transactions across several parallel blockchains.
Easy blockchain innovation: Create a custom blockchain in minutes using the Substrate framework
High energy efficiency: Polkadot consumes a small fraction of the energy used by conventional blockchains thanks to its next-generation nominated proof-of-stake (NPoS) model
Security for everyone
User-driven governance: Polkadot has a sophisticated governance system where all stakeholders have a voice

Consensus

is based on Nominated Proof-of-Stake (NPoS)

What is the use of $DOT Token?

DOT is native to the Polkadot platform and its Non-ERC20 Token.

It has a circulating supply of 1.2 Billion DOT coins
Total supply of 1.24 Billion.
1,000 to 1, 500 transactions per second (TPS)

Governance

Owners of Polkadot tokens have all authority over the protocol. The Relay Chain participants (DOT holders) will be granted all powers, including controlling extraordinary events like protocol upgrades and corrections, which on other platforms are only available to miners.

Staking

Game theory incentivizes token holders to behave in honest ways. Good actions are rewarded by this mechanism whilst bad action will lose their stake in the network. This ensures the network stays secure.

Bonding

New parachains are added by bonding tokens. Outdated or non-useful parachains are removed by removing bonded tokens. This is a form of proof of stake.

Polkadot Burning Mechanism

If the Treasury ends a spending period without spending all of its funds, it suffers a burn of a percentage of its funds - thereby causing deflationary pressure. This encourages the spending of the funds in the Treasury through Polkadot's governance system. This percentage is currently at 1% on Polkadot

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Social Media Community

website: https://polkadot.network

Wiki: https://wiki.polkadot.network/docs/learn-DOT

Twitter has more than 1.3M Followers

Polkadot GitHub & Code Repository:

here you can see the development work and progress

https://github.com/paritytech/polkadot

How it Works

The nominating backend will routinely change its nominations at every era. The backend does this by short-listing candidates by validity and then sorts validators by their weighted score in descending order.

Validators with a higher weighted score are selected for any possible slots. As validators are nominated and actively validate, their weighted scores decrease allowing other validators to be selected in subsequent rounds of assessment.

If a validator is active during a single nomination period (the time after a new nomination and before the next one) and does not break any of the requirements, it will have its rank increased by 1. Validators with higher ranks have performed well within the program for a longer period of time.

The backend nominates as many validators as it reasonably can in such a manner to allow each nominee an opportunity to be elected into the active set.

What are parachains?

Layer-1 blockchains of the next generation, known as parachains, go beyond the constraints of traditional networks. Parachains are specialized and interconnected networks of separate platforms, communities, and economies that enhance how we connect online.

Drawbacks of Polkadot

A major drawback to Polkadot is the lack of a future roadmap, currently ending at the release of parachains and further auctions, which have already been undergoing. Lacking a future roadmap can cause the project to stagnate and make progress move very slowly.

Weak Governance

DOT holders, the ones supposed to be voting for changes and upgrades in the Polkadot ecosystem are simply not voting enough! The lack of proper engagement could stagnate progress in the ecosystem.

The Founders of Polkadot:

Founded by the Co-Founder of Ethereum, Dr Gavin Wood in 2016, who coined the term Web 3.0 with other founders, including Robert Habermier and Peter Czaban, who both have expert resumes in the Web 3.0 and blockchain development space.

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12 October, 2022

What is blockchain and Types of Blockchain

What is blockchain?

A blockchain is a distributed database that maintains a continuously expanding list of ordered entries, called blocks, and these blocks are linked using cryptography. A timestamp, transaction information, and a cryptographic hash of the previous block are included in each block. A blockchain is a decentralized, distributed, and public digital ledger that is used for logging transactions across numerous computers in a way that prevents changes to the record from being made in the past without also changing all blocks that come after them and getting network consensus.

Advantages of using blockchain :

It provides greater trust among users.
It provides greater security among data.
Reduce the cost of production.
Improve Speed.
Invocation and tokenization.
It provides immutable records.
Smart contracts
Types of Blockchain

Disadvantages of using blockchain :

It is not possible to modify data.

It requires large storage for a large database.

If the owner forgets or misplaces their private key, they will be unable to access it again.

There are 4 types of blockchains:

Public Blockchain
Private Blockchain
Hybrid Blockchain
Consortium Blockchain

Permissioned blockchains have the following disadvantage

Not truly decentralized as it requires permission

Risk of corruption as only a few participants are involved.

Anytime owner and operator can change the rules as per their need.

Public Blockchain

They don’t have any restrictions, anyone having a computer and internet can participate in the network.

a public blockchain is open to the public, which means it is not owned by anyone.

All the computer in the network hold the copy of other nodes or block present in the network

In this public blockchain, we can also perform verification of transactions or records

Advantages:

Trustable: There are algorithms to detect no fraud. Participants need not worry about the other nodes in the network
Secure: This blockchain is large in size as it is open to the public. In a large size, there is greater distribution of records
Anonymous Nature: It is a secure platform to make your transaction properly at the same time, you are not required to reveal your name and identity in order to participate.
Decentralized: There is no single platform that maintains the network, instead every user has a copy of the ledger.

Disadvantages:

Processing: The rate of the transaction process is very slow, due to its large size. Verification of each node is a very time-consuming process.
Energy Consumption: Proof of work is high energy-consuming. It requires good computer hardware to participate in the network
Acceptance: No central authority is there so governments are facing the issue to implement the technology faster.

Use Cases of Public Blockchain:

Public Blockchain is secured with proof of work or proof of stake they can be used to displace traditional financial systems. The more advanced side of this blockchain is the smart contract that enabled this blockchain to support decentralization. Examples of public blockchains are Bitcoin($BTC) and Ethereum($ETH).

An example of public blockchains, are BTC, ETH, BTC Cash, etc.

Private Blockchain

These blockchains are not as decentralized as the public blockchain only selected nodes can participate in the process, making it more secure than the others.

These are not as open as a public blockchain.
They are open to some authorized users only.
These blockchains are operated in a closed network.
In this few people are allowed to participate in a network within a company/organization.

Advantages:

Speed: Due to the transaction's tiny size, the rate is high. Each node's verification takes less time.
Scalability: The scalability can be changed. The network's size can be chosen manually.
Privacy: Due to business demands for confidentiality, the level of privacy has increased.
Balanced: The transaction is more balanced because only a select few users have access to it, which boosts network efficiency.

Disadvantages:

Security Risk- Because there are fewer nodes of this type, there is a potential that they could be manipulated. These blockchains have higher security risks.
Due to its centralization, one of the key drawbacks is the difficulty of establishing trust. This is a tool that businesses can employ for misconduct.
Due to the limited number of nodes, the blockchain system as a whole may be in danger if any nodes go down.

Use Cases of Private Blockchain

With proper security and maintenance, this blockchain is a great asset to secure information without exposing it to the public eye. Therefore companies use them for internal auditing, voting, and asset management.

An example of private blockchains businesses like IBM, Hyperledger, R3 Corda, and Tezos offer private blockchain services.

Consortium Blockchain

The benefits of both worlds are combined in a public and private blockchain called consortium blockchain. The main distinction between the two systems may be found in the degree of unanimity.

Also known as Federated Blockchain.
This is an innovative method to solve the organization’s needs.
Some part is public and some part is private.
In this type, more than one organization manages the blockchain.

Advantages:

Speed: A limited number of users make verification fast. The high speed makes this more usable for organizations.
Authority: Multiple organizations can take part and make it decentralized at every level. Decentralized authority, makes it more secure.
Privacy: The information of the checked blocks is unknown to the public view. but any member belonging to the blockchain can access it.
Flexible: There is much divergence in the flexibility of the blockchain. Since it is not a very large decision can be taken faster.

Disadvantages:

Approval: All the members approve of the protocol making it less flexible. Since one or more organizations are involved there can be differences in the vision of interest.
Transparency: It can be hacked if the organization becomes corrupt. Organizations may hide information from the users.
Vulnerability: If a few nodes are getting compromised there is a greater chance of vulnerability in this blockchain

Use Cases of Consortium Blockchain:

It has high potential in businesses, banks, and other payment processors. Food tracking of the organizations frequently collaborates with their sectors making it a federated solution ideal for their use. Examples of consortium Blockchain are Tendermint and Multichain.

Hybrid Blockchain

It is the mixed content of the private and public blockchain, where some part is controlled by some organization and other makes are made visible as a public blockchain.

It is a combination of both public and private blockchains.
Permission-based and permissionless systems are used.
User access information via smart contracts
Even if a primary entity owns a hybrid blockchain it cannot alter the transaction

Advantages:

Ecosystem: Most advantageous thing about this blockchain is its hybrid nature. It cannot be hacked as 51% of users don’t have access to the network
Cost: Transactions are cheap as only a few nodes verify the transaction. All the nodes don’t carry the verification hence less computational cost.
Architecture: It is highly customizable and still maintains integrity, security, and transparency.
Operations: It can choose the participants in the blockchain and decide which transaction can be made public.

Disadvantages:

Efficiency: Not everyone is in a position to implement a hybrid Blockchain. The organization also faces some difficulty in terms of efficiency in maintenance.
Transparency: There is a possibility that someone can hide information from the user. If someone wants to get access through a hybrid blockchain it depends on the organization whether they will give it or not.
Ecosystem: Due to its closed ecosystem this blockchain lacks the incentives for network participation.
Use Case: It provides a greater solution to the healthcare industry, government, real estate, and financial companies. It provides a remedy where data is to be accessed publicly but needs to be shielded privately.
Examples of Hybrid Blockchain are the Ripple network and XRP token

Private Blockchain vs. Consortium Blockchain:

How To Transfer Cryptocurrency, Coins From WazirX To Binance? A Step-by-step Procedure

10 October, 2022

What is Bitcoin? and How does Bitcoin work?

What is Bitcoin?

Bitcoin is a decentralized digital currency that permits fast payments to anybody, anywhere globally. Peer-to-peer technology is used by Bitcoin to operate decentralized, with the network managing transactions and creating new bitcoin.

The majority of issues with the present banking system are addressed with bitcoin:

Permissionless and international transactions are features of bitcoin. Anyone on the globe can install the software.
Anonymous: Since using Bitcoin does not require a valid ID, it is suitable for those who lack access to banking services, value their privacy, utilize computers, or reside in regions with weak financial infrastructure.
Private: Bitcoin can enable robust financial privacy when utilized carefully.
Censorship-resistant: No transaction, regardless of its size, can be frozen or blocked by anyone.
Fast: Data may go over the Internet almost as quickly as transactions.
Cheap: Fees may be extremely minimal.
Once decided, irreversible, like money (but consumer protection is still possible.)
24 x 7 x 365 days a year, available online at all times.

Some interesting facts

Only 21 million bitcoins will ever exist.
Have no storage costs.
Easy to protect and hide. Can be stored on a phone, computer encrypted on a paper backup, or memorized in your head.
No counterparty risk. If you keep the seed phrase of a bitcoin wallet secret.
Can be under divided possession with Multisignature.
The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. Most client software derived or "from scratch", also uses open-source licensing.

What Is Multi-signature (multi-sig)?

It refers to requiring multiple keys to authorize a Bitcoin transaction, rather than a single signature from one key. It has a number of applications.
Dividing up responsibility for possession of bitcoins among multiple people.
Avoiding a single point of failure, making it substantially more difficult for the wallet to be compromised.
m-of-n backup where the loss of a single seed doesn't lead to loss of the wallet.

How does Bitcoin work?

Bitcoin processes and verifies payments using public-key cryptography, peer-to-peer networking, and proof-of-work.
Each user may have a large number of addresses, and bitcoins are sent (or signed over) from one address to another.
To prevent the contained bitcoins from being used twice, every payment transaction is broadcast to the network and recorded in the blockchain.
The enormous computing power that keeps expanding the blockchain locks each transaction in time after an hour or two. These methods allow everyone to access Bitcoin's quick and incredibly secure payment network.

You can read the original paper/draft of bitcoin here

09 October, 2022

Error: Cannot assign value "$event" to template variable "emailBody". Template variables are read-only.

First of all, binding ngModel to your local variable X from.ts is not possible using #emailBody="ngModel."

A new template variable emailBody will be bound to the instance of the Angular directive ngModel, which has nothing to do with your.ts variable. The only place a template variable may be found is in your component's.html (unless you use @ViewChild or a similar method to retrieve a reference in your.ts).

Here is old cod that has this issue :

 <div class="ed_contact_form ed_toppadder60 row m-0">
        <div class="col-lg-6 col-md-6 col-sm-12">
          <div class="form-group">
            <input type="text" id="uname" class="form-control" 
                    placeholder="Your Name">
          </div>
          <div class="form-group">
            <input type="email" id="fromEmail" class="form-control" 
            placeholder="Your Email" name="fromEmail" #fromEmailt="ngModel" 
                [(ngModel)]="fromEmail">
          </div>
          <div class="form-group">
            <input type="text" id="emailSubject" class="form-control" 
            placeholder="emailSubject" required #emailSubject="ngModel" 
            [ngModel]="emailSubject">
          </div>
        </div>
        <div class="col-lg-6 col-md-6 col-sm-12">
          <div class="form-group">
            <textarea id="emailBody" class="form-control" rows="6" 
                placeholder="emailBody" required  #emailBody="ngModel"
                [(ngModel)]="emailBody"></textarea>
          </div>
         
        </div>

New Codde Ater Fixes

your component variable name, and directive name should not be the same.

to fix it I have added #emailBoddy1 instead of #emailBody.

<div class="ed_contact_form ed_toppadder60 row m-0">
  <div class="col-lg-6 col-md-6 col-sm-12">
    <div class="form-group">
      <input type="text" id="uname" class="form-control" 
              placeholder="Your Name">
    </div>
    <div class="form-group">
      <input type="email" id="fromEmail" class="form-control" 
      placeholder="Your Email" name="fromEmail" #fromEmailt1="ngModel" 
          [(ngModel)]="fromEmail">
    </div>
    <div class="form-group">
      <input type="text" id="emailSubject" class="form-control" 
      placeholder="emailSubject" required #emailSubject1="ngModel" 
      [ngModel]="emailSubject">
    </div>
  </div>
  <div class="col-lg-6 col-md-6 col-sm-12">
    <div class="form-group">
      <textarea id="emailBody" class="form-control" rows="6" 
          placeholder="emailBody" required  #emailBody1="ngModel"
          [(ngModel)]="emailBody"></textarea>
    </div>
   
  </div>

How to Purge/Invalidate/Delete cache in the AWS cloud front

How to Purge/Invalidate/Delete cache in the AWS cloud front?

One of the following options is available if you need to remove a file from CloudFront edge caches before it expires:

The file should be removed from edge caches. When a viewer requests the file again later, CloudFront goes back to the source to get the most recent copy.

To provide a different version of the file with a different name, use file versioning. See Using versioned file names to update existing files for further details.

To purge cache in the AWS cloud front follow these steps:

Open your CloudFront >> Distributions list, and click the desired distribution ID if you want to clear its cache.

click on Create Invalidations Button

under crate invalidations >> Object Paths "/*" to clear all your cached files and click on "Create Invalidations" finally

All set now, it will complete the command and all cached files will be deleted.

PLease share our feedback/comment if it works for you?

07 October, 2022

AWS FREE ASP.NET CORE (.NET 6.0) HOSTING WITH FREE SSL

FREE ASP.NET CORE (.NET 6.0) Hosting on AWS (Amazon Web Services)

Today I was able to host my asp.net 6.0 + ANGULAR 14 application on AWS Free

Initial Setup of your AWS Account and your Computer

Get ready with your asp.net core 3.1 /.net 6 application

Install "AWS toolkit for visual studio 2022" as visual studio extensions :

it will be required to deploy smoothly from Visual Studio 2022 itself, your life will be easy.

Let's finish the AWS account setup

Get signed up with: its free but it will be required a valid credit card or debit card, they will charge nothing for the free services for 1 year*

https://portal.aws.amazon.com/billing/signup#/start/email

AWS console for services and offering

http://console.aws.amazon.com/

Create a user in AWS Console: IAM

With the help of AWS Identity and Access Management (IAM), you can control who or what has access to the services and resources offered by AWS, centrally manage fine-grained permissions, and adjust permissions across AWS by examining access patterns. read more here

Users need the following "AdministratorAccess" permissions,

Click on the "Security Credentials Tab" and generate credentials. keep both the key and secrete secure

Connect visual studio code to AWS and ec2

next step go to your computer and follow the directory on the window path: %USERPROFILE%\.aws\

create a file named "credentials" without any extension.

$%USERPROFILE%\.aws\credentials$

here who the credentials file looks like, read more here .https://docs.aws.amazon.com/cli/latest/userguide/cli-configure-files.html

Deployment in AWS ec2 t2.micro free tier after 12 months

you know need to create before deployment, you can do the same thing with the visual studio itself

Your visual studio will be connected with the AWS credential that we have set up in previous steps.

In Solution Explorer, right-click your application and then select Publish to AWS Beanstalk.
In the Publish to AWS wizard, enter your account information.
For an AWS account to use for deployment, select your account or select Other to enter new account information.
For Region, select the region where you want to deploy your application. For information about available AWS Regions, see AWS Elastic Beanstalk Endpoints and Quotas in the AWS General Reference. If you select a region not supported by Elastic Beanstalk, then the option to deploy to Elastic Beanstalk will become unavailable.