Since the Bond Dapp v0.0.3 is now working its a good time to do another write up on how to buy bonds and earn some passive income on the side.
Step 1: Download gexp and extract the one appropriate for your OS version. This will be used later on to unlock your account.
Step 2: Download the mist wallet for your operating system.
Step 3: Start the wallet by clicking on Expanse-Wallet icon. Click on skip peer search and the wallet will open.
Step 4: Use Mist to create a brand new account by going to Accounts -> New account. Give it a password.
Step 5: Copy the newly created account address to a text file some where.
Step 6: Browse to the location where you downloaded gexp in step 1 and run it like this gexp --rpc --rpcaddr localhost --unlock "accountnamegoeshere". Once you launch the shell will ask you for password/passphrase. Enter it and it should tell you that you successfully unlocked the account. Alternatively you can create a file called password.txt in the same directory as gexp and run gexp like this gexp --rpc --rpcaddr localhost --unlock "accountnamegoeshere" --password password.txt.
Step 7: Download the Bond Dapp
Step 8: Extract and run the bond dapp ui.
Step 9: Go to Manage Accounts and you should see the Account Balance to match the balance you expect. If not wait for the blockchain to sync. At this point your bond balance should show 0. Also make sure your account says Unlocked. If it says Locked then you need to revisit Step 8.
Step 10: Every 100 EXP gets you 1 Bond so depending on that fill in the appropriate amount in the Amount tab and click Deposit. Wait for the Bond Balance to reflect the value you just Deposited. This process should take approx 2 - 5 min. You should get a notification on the top right that your deposit is complete. Your Bond Balance should now reflect the new balance. If it doesn't simply switch to another tab and come back to this one to see the correct value of your deposit.
Step 11: Now that the deposit is complete the Create Bond option should appear below the Account. Click on the Create Bond with the appropriate multiplier. If you deposited 100 EXP then your multiplier will be 1. If you deposited 1000 EXP your multiplier will be 10. Confirm and wait for the UI to confirm the completion of the Bond.
Fundamentally speaking what makes the blockchain technology so great?
Actually a lot of naysayers discard it as nothing more than public database. I think people who say that either live in a bubble or don't really have any real world experience.
The other day we were talking about charities and why they are so unreliable. I love to give money. I would like to give all my money to the poor and needy before I die. As a matter of fact I have a religious obligation to do that.
My issue is that I have no insight into where my money goes. What is the distribution like? How much money is being given to the people who actually need it and how much money is being used to compensate the employees or owners of the charity.
See the problem with these enterprises is that there is always a centralized authority sitting in the middle who gets the money and distributes it to run the various segments of the charity. This central figure, sometimes known as the finance department, distributes the money according to some predesignated plan which the outside world has no clue of. At the end of the quarter or year the people who give to these charities get reports that have material set by the standards set by External Reporting Board (XRB). The problem with these reports is that they are created by the people working for the company and there is no way to prove their accuracy.
This is exactly where the blockchain will come to the rescue. With the blockchain I can see right away where my money is and who its going to pretty much in real time. The rules of the charity are dictated in code and are immutable, which means once written they can't be changed unless the community agrees to a hard fork of some sort.
Now I dont even think this is the coolest part of what makes a blockchain so great in these cases. Essentially the blockchain is a self governing system. Yes, I said it. It governs and funds itself in a transparent manner. In another words you can almost call it a living breathing organism on the internet that grows itself. This I think is the coolest part of a blockchain.
Finally the expanse team is using the technology in a great way with borderless charity, borderless identity management, voting and quest platforms.
I think from a tech perspective expanse is in line with providing everything an election system needs to be fully transparent and fair.
The obvious question is how much leverage do we have with the govt to adopt such a change. Even though exp and borderless are not tied to any particular country but nations and leaders that keep a negative impression of americans will need more convincing.
I think the pilot program for the exp voting system will provide very useful data and will most likely make it a little bit more clearer how the voting module can be utilized.
At this point it might be a little too optimistic to think that exp will replace a countries election process right out the gate. I think a more achievable goal is to replace various polls that are often conducted which people have even less transparency on.
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