Daily: WTF is Mainnet (Vechain, EOS, Tron) ?! / Telegram blocked from updating its iOS app

Hey everyone and welcome to Box Mining Daily where I keep you up to date with what's happening in the cryptocurrency news and the markets as well. Today we're going to focus on one topic which is mainnet launches. We're going to talk about what is a mainnet launch first of all and what that means for the community as well. And we're going to talk about that because there are two mainnets launching in these few days. One is the Tron mainnet which is recently launched and also of course the EOS mainnet launch or mainnets maybe. So we're going to talk about that in this episode. We're also going to talk about privacy as well because Telegram itself is running into a little bit of trouble with the Russian courts and that has led to a lack of updates or Apple blocking their updates on the iOS. And we're going to talk about why it's important to have privacy as well. So I do want to say everything covered here is my personal opinion and not financial advice. Let's start off with the cryptocurrency markets first of all and not much has been happening over the past few days where market cap overall is stuck at around $334 billion in terms of market cap. So we haven't really been experiencing that much movement. So let's start off the discussion with mainnet launches because there's quite a few mainnets being launched this year ranging from Tron which was launched today. EOS launching soon, Ontology, VeChain and many more. So what exactly is a mainnet launch? The easiest way to think about it is like this. If you're holding a token of any of these coins right now, you're actually holding a pre-order. So excuse the bad images here, but it's actually a pre-order for the actual product that's going to be released. And the mainnet is really the computer, the super computer, the network that's going to be deployed. So what's going to happen is that you're going to switch this pre-order token for an actual coin on that particular network. So that is what a pre-launch is, but it's also a very big deal. It's akin to launching like a satellite into space. All of these programmers are just tapping away, making sure that the code works. And then at the launch date is when the product can finally see that product go live. Right now, of course, they can do some tests on test nets, which is just for testing, but the real test comes when the mainnet is deployed, because once the mainnet is deployed, it's much harder to fix. Just like a satellite that's launched in space. Well, it's much harder to maintain it if something goes wrong. And that's why there's so much hype and so much also FUD towards a mainnet launch as well, because, well, the FUDders or people who are fearful would say, yeah, what if something goes wrong? What if there's bugs? What are those last minute bugs that might prevent the network from running well? Also, the people who are hyping, it's just like delivering that video game, right? You're just waiting for the game that video game releases and you can start buying and playing it. That's exactly what's happening. So today, Tron launched. So they launched their new mainnet and you can actually see the transactions going on. It's not many transactions. And I do want to say, of course, I've been a little bit, you know, personally biased against this project just because of the way their marketing is a little bit too aggressive and a little bit misleading. But, you know, it's good to see something like this actually go up live. EOS is going to also launch very soon. So on Sunday, one of the mainnet is going to deploy. So this is the interesting thing about EOS as well, because EOS right now, what you hold is the ERC20 token. And block one, the producers of EOS or the developers behind the software, they're not going to launch the mainnet. They're not going to be responsible. They're going to take this really decentralized approach and say, you know what, let's let the community do this. So now comes an interesting part where there's so much speculation going on. This is probably the most exciting launch, first of all, because anyone can launch the EOS mainnet. So then which one's going to be the official one? Which one is going to be the one that's going to be, you know, what everyone think is going to be EOS in the future? And I like and dislike the approach at the same time by being hands off and by letting the community run this. It is really more decentralized because, well, there's no point of weakness. They can't say target block one, blow them up. And then, well, you know, who's going to be the leader anymore? By taking a hands off approach, they say, OK, the community is in charge. But the problem with this approach is that a lot of people hold EOS tokens in the exchanges. You know, a lot of people buy on Binance or buy it on any other exchange. In which case, now the exchanges can say, yeah, that one's the mainnet. That one's the one we're going to support. So it's kind of like delegating power. If there's multiple kind of mainnets out there and multiple communities, then, well, the exchange is going to choose that, right? The exchanges have final say or at least it can sway people over to that side. But that being said, I think right now, this current point, there's no interest in people deploying multiple mainnets for EOS. It's right now the community seems to be pretty united as one. So we've seen, you know, pretty much pen topics on Reddit saying, yeah, this is the EOS goal. They're block producers. They're going to deploy a potential chain on, you know, potential chain launch day on the fourth of Sunday. So it's going to be interesting to see how it goes. And it's going to clear up a lot of uncertainty and a lot of fears for a lot of people. Next up on the news, it seems like Litecoin Core has been released. So 0.V0.16. So this is an upgrade to the Litecoin protocol, just like how Bitcoin Core has new updates. This one, the main changes is allows SegWit wallets to be enabled. So you can add an extra argument here to enable a SegWit wallet. You guys don't know what's happening with this whole SegWit situation. It's a technology that was deployed on Litecoin and on Bitcoin. And it allows the signature, a few of the signatures to be removed from transactions and placed on the block as a whole. Basically freeing up a little bit of space to put more transactions into a single block. This update just makes it easier for people to enable SegWit or change to SegWit addresses. It's really a backend thing. So if you have a wallet that's like, you know, on Ledger or whatnot, then it's just like Ledger will find a way to use this feature on Litecoin Core. So it's something that you don't really have to bother about. But one thing I do want to stress is that Litecoin is still uploading stuff. It's still being updated and maintained. A lot of people were very concerned that when Charlie Lee first said, oh yeah, I sold all my Litecoin that he wasn't going to get involved. I feel like it's pretty much proven at this point that he's still very involved in community. Just that he doesn't want that bias coming in to say, oh yeah, you know, he owns a bunch of Litecoin. Whatever that means. And also, honestly, do we really believe that he sold all his Litecoin? Because, you know, that's what all these guys are saying. You know, Fluffy Pony says he lost all his Monero. But let's take that with a grain of salt. Lastly, let's talk about privacy. Because this is a really important topic in the whole cryptocurrency space. And it relates to a tool that we use a lot. It's Telegram. So let's follow up a little bit about the drama first of all. So what's happening and what's preventing Telegram from updating? And why is Russia fighting against them? Well, the Russian government probably wanted to snoop in on a few messages. So Russian courts wanted to order Telegram to surrender what they thought was that Telegram was holding, a universal decryption key. So they kind of assumed that Telegram will have a backdoor into all our communications. And if they surrendered this said universal decryption key, they can decrypt messages on the Telegram network. As you know, Telegram, you know, they market themselves as a secure way of communications. No one can tap into that communication, especially governments. So they refused. They basically said, yeah, we don't have that key. And you can't make us surrender something we don't have. So it does seem like the Russian courts have ordered, well, Telegram not to be updated or to be removed from Russia overall. So that's one thing. But it seems like a bit of more news is emerging that Apple has prevented Telegram from updating its app since April. So Apple is really trying to seek a way to appease the Russian government. Basically, not only did they remove Telegram from Russian app stores, the Apple app stores, but they're also preventing Telegram to basically update its software. And as you know, updates are necessary not only to patch up critical flaws, but also more importantly to comply with new regulations. Because there's a new European regulation called the General Data Protection Regulation, GDPR. And right now, Telegram can't comply, can't issue an update to comply with this European regulation. So if that's the case, there might be a risk that the European courts will ask for Telegram to be delisted in Europe as well. Because they're not complying with GDPR. So, and Telegram can't comply because Apple is not allowing them to update. So you see the issue here. You see that I'm definitely calling Apple out on this. You know, they have the, you know, central authority to allow apps to be uploaded or updated on the app store or not. Whilst they're serving, whilst this kind of role is, you know, they describe it as to us as they're protecting us from malicious apps and they're screening these apps. The problem is now the political stance, you know, not allowing Telegram to update is really interfering on, you know, our privacy and our right to communicate. And I don't think this is something that they should do. You know, Google did something that was pretty good. You know, like in the past, in 2010, basically when Google realized, you know, they were operating in China and they realized that there was an attack on their servers. And the attack basically breached emails that were human rights activists in China. Their emails. Google said, yeah, you know what, we're not going to comply with censorship policies. Ban us if you want. And I guess that's why Google is now currently banning China because you can't really access Google.com there. So it's taking a stance against governments. And I do feel like I think Apple siding so much with Russia and not even just complying with what the Russians are doing, but also trying to appease them in additional ways by preventing Telegram from updating. That's not a good step in the right direction. And we definitely need to have, you know, a method to communicate securely with each other. So I do have a project that I was talking to that I'll release a video soon called Mainframe and they deal with secure communications. Basically having a decentralized secure communication and also having different apps that could be built on top of this to allow more apps to have totally secure communications. So guys, what do you think of this current situation? The fact that Telegram can't be uploaded onto Apple. Do you think that's quite disgusting? Leave a comment down below and I'd love to hear and have a discussion about that. Thank you guys so much for watching this video. Remember to click the little subscribe button to subscribe to this channel and also the notification bell to be notified when new videos are released. Thank you guys so much for watching. See you next time.