APD Watch Command told KVUE that a shots fired call came in for 12601 Tech Ridge Blvd. at around 8:40 p.m. Tuesday.
One person is dead. The APD Homicide Unit is investigating, but there is not currently a suspect.
No additional information is available at this time.
This is a developing story. Check back for updates.
What do automotive shoppers really want?
A few years ago, those who kicked the tires on new vehicles might have prioritized fuel efficiency, comfort, or perhaps horsepower.
Today, itâs all about the tech.
âThe race never ends to develop âmust haveâ vehicle technologies,â says Kristin Kolodge, executive director of driver interaction and human machine interface research at J.D. Power. âNew technology continues to be a primary factor in the vehicle purchase decision.â
âHowever, itâs critical for automakers to offer features that owners find intuitive and reliable,â Kolodge adds.
Automotive expert Nik Miles mirrors Kolodgeâs assessment: âBesides price, tech plays a major role when considering a new car â interestingly, for every age group â but it has to be easy to use.â
Miles is founder and host of OurAutoExpert.com, an online magazine featuring the latest in automotive news and reviews. âEven inexpensive vehicles are loaded with tech, whether itâs tech you see, such as cutting-edge infotainment systems, or tech you donât see that keeps drivers safe,â Miles adds.
The following is a quick look at a few promising teched-out vehicles this fall, and some gadgets you can add to any vehicle, as well.
Starting at $32,470, this new two-row crossover SUV features Toyota Safety Sense 2.5, a comprehensive suite of active safety systems that includes a pre-collision system with advanced pedestrian and bicyclist detection; road sign assist, which actively scans the sides of the road to detect select road signs and displays them on the dashboard; and emergency steering assist, which could help drivers avoid a pedestrian or other object in their lane.
The 2021 Toyota Venza also features lane departure alert, lane tracing assist, and dynamic cruise control (which allows the vehicle to maintain a preset distance from the one ahead).
Tech driving the auto industry: These 6 new technologies will transform vehicles
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In a first for the company, the vehicle supports an optional Star Gaze fixed panoramic moonroof. Similar to some airplanes that use this technology to block outside light (instead of a manual window shade), this is electrochromic glass that allows drivers to switch from transparent to frosted modes with the push of a button. This is a $1,400 option on the LTD grade of the vehicle (which also includes a 12.3-inch touchscreen).
For the first time in 55 years, Ford is expanding its Mustang lineup, with another first, an all-electric Mustang, called the Mach-E. Itâs a four-door SUV with fast pick-up and up to 300 miles of range between charges. (Photo: Ford Motor Company)
Speaking of firsts, Ford is expanding its Mustang lineup for the first time in 55 years, with an all-electric model.
But aside from a ton of power and torque, this electric vehicle (EV) crossover has an estimated range of at least 300 miles, with the available extended-range battery and rear-wheel drive. It can route customers to nearby public charging stations and will provide access to more than 12,500 public charge stations in the FordPass charging network.
Preorders are well underway, and the vehicle will start hitting the streets near the end of the year, says the company.
Cadillacâs Super Cruise technology gets revamped in the 2021 Cadillac Escalade, out this year, including automatic lane changes, and more. Unlike Teslaâs Autopilot, you donât need your hands on the wheel but need to be looking at the road. (Photo: Jim Frenak-FPI Studios / General Motors)
When it comes to semi-autonomous driving aids, the 2021 Cadillac Escalade (from $77,490) features an enhanced Super Cruise system, which now includes âlane change on-demand,â allowing drivers to direct the system to perform a single lane change using the turn signal to indicate the desired direction of the move.
Speaking of lanes, an enhancement to âdynamic lane offsetâ means the Escalade can be nudged slightly into its lane when other vehicles are passing very closely.
When activated on supported freeways and highways, Super Cruise uses a series of lidar-generated maps, high-precision GPS, cameras and radar sensors to monitor the road, as well as a system to ensure the driver is paying attention. That is, unlike Teslaâs Autopilot, those who activate Cadillacâs Super Cruise on the 2021 Escalade (or CT6 sedan) do not need to have their hands on the wheel, but their eyes must remain fixed on the road ahead.
Featuring twice the pixel density of a 4K TV, the curved OLED enables bold imagery, perfect blacks and the largest color range available in automotive. (Photo: Jim Frenak-FPI Studios / General Motors)
Better drive: Waze knows which lane you should pick
Along with augmented reality (AR)-enabled navigation â which uses live street views with directional overlays to enhance driving directions â the Escalade also has an industry-first curved OLED display, which is as thin as a sheet of paper. In total, there are more than 38 inches of screen tech, and with twice the pixel density of a 4K television.
Out this fall, the OLED display and AR Navigation come standard with the 2021 Escalade, while the Super Cruise feature costs about $2,500, available on the Premium Luxury, Sports, and Platinum trims.
â
Other impressive vehicles loaded with tech include the new 2021 Mercedes-Benz S Class sedan (with several advanced safety features and support for What3Words.com navigation), 2021 Chevrolet Trailblazer (with wireless projection feature), and the 2021 Rolls-Royce Ghost (which uses cameras to see road surface and adjust suspension accordingly).
A couple of third-party devices worth considering â regardless of the make or model
⦠Dashboard cameras (âdashcamsâ) give you peace of mind just in case of an incident on the road (or interaction with authorities). The Sylvania Roadsight dash camera line offers a wide-angle HD camera system that loops video recordings of road interactions and automatically saves footage in the event of a detected accident (G-sensor technology). Plus, unlike many other dashcams, the camera connects via its dedicated Wi-Fi to the SYLVANIA Connect mobile app (iOS and Android), which allows drivers can view a live-feed of the camera, adjust settings, and download and share footage, if desired. Prices start at $59 for the Sylvania Roadsight Rear and up to $149 for the Roadsight Pro model.
If youâre one of the tens of millions of Americans who talk to Amazonâs friendly personal assistant at home, this $49 device lets you add Alexa to any vehicle. (Photo: Amazon.com)
⦠While you may already have Siri or Google Assistant to talk to while behind the wheel â via Apple CarPlay or Android Auto, respectively â if you prefer Alexa, thereâs an inexpensive way to add âherâ to any vehicle. Called Amazonâs Echo Auto ($49), this device connects to the Alexa app on your phone and plays through your carâs speakers, through wireless Bluetooth or an available aux-in port. Echo Auto features eight microphones and far-field technology, so it can clearly hear you over music, air conditioning, and outside road noise. Along with using your voice to check the news, weather, manage your calendar or make calls, you can also stream content from Audible (audiobooks), Spotify (music and podcasts), Amazon Music, Apple Music, SiriusXM, and radio stations with TuneIn and iHeartRadio. An air vent mount is included.
Follow Marc on Twitter: @marc_saltzman. Email him or subscribe to his Tech It Out podcast at marcsaltzman.com/podcasts.
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Amazon today revealed new Echo products and also a new cloud gaming service called “Luna” that will be available later this year. Interestingly enough, the company promises support for Windows, Mac, Fire TV, Android devices, and surprisingly, iPhone and iPad.
Luna will be launched with over 100 games available, including titles such as Resident Evil 7, Control, Panzer Dragoon, A Plague Tale: Innocence, and The Surge 2, with more titles coming in the future.
Thanks to a partnership with Ubisoft, Luna users will also have access to a specific gaming channel with Assassins Creed Valhalla, Far Cry 6, and Immortals Fenyx Rising. Games can run at up to 4K 60fps resolution for selected titles on the Luna platform, which is entirely powered by Amazon Web Services.
According to Amazon, Luna will be released for Windows, macOS, Android, and even iOS — which sounds extremely surprising. As pointed out by The Verge, Luna games will be available in iOS as web apps, but there are no further details on how this will work.
Apple announced this month new App Store guidelines addressing game streaming services, which weren’t allowed on the App Store. The company says that streaming games are now allowed, as long as developers submit each game to the App Store as separate apps in compliance with all guidelines.
The Cupertino-based company has stated that developers who choose not to follow the App Store rules can offer web apps, although these apps have several limitations compared to a native app.
Streaming games are permitted so long as they adhere to all guidelines — for example, each game update must be submitted for review, developers must provide appropriate metadata for search, games must use in-app purchase to unlock features or functionality, etc. Of course, there is always the open Internet and web browser apps to reach all users outside of the App Store.
It’s not clear whether Amazon will launch Luna on iOS as a web app to bypass the App Store guidelines or whether the company has decided to launch each individual streaming game on the App Store, as Apple suggests. If these are real web apps, it will be interesting to see how these games will perform since websites don’t have access to controls and sensors as installed apps do.
Although this seems more unlikely, Amazon may have come to an agreement with Apple to offer the Luna platform on the App Store. Both Microsoft and Google gave up on providing their streaming gaming platforms on iOS due to strict App Store guidelines. It’s worth mentioning that Apple and Amazon already have some special agreements regarding Amazon Prime Video on the App Store and Apple TV app.
Amazon Luna will be available for an introductory price of $5.99 per month. Users in the US can already request early access to the service, but Amazon hasn’t said when the platform will be available in more countries.
Don’t forget to check out our full coverage on 9to5Toys of everything Amazon announced today.
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Cryptocurrency exchange and custodian Gemini announced on Thursday that its UK users, individual and institutional, will now be able to trade and store crypto using the Pound sterling (GBP).
Jaspreet Kalra
Thanks to COVID-19, digital adoption rates have moved forward by five years in a matter of weeks — and the world of flexible working is no exception. Spaces must embrace the robust and cost-effective technologies to create the best experience for members, while balancing COVID-based fears on the return to work.
“Everything needs to be both safer and better in the office setting than it is at home. Technology can play a big part in this,” according to David Kinnaird, chief customer officer at essensys.
What’s more, technology provides spaces with a key differentiating factor, as Bart Klaver, managing director at SALTO KS, said: “With the abundance of IoT and AI solutions available, flexible workspaces need to offer more than hand sanitisers to attract workers.”
This sentiment certainly rings true from the technology vendors and coworking operators I spoke with to find out what solutions work for their members and workspaces.
Touchless tech is an important offering for many spaces in our post-Covid world, with a focus on smart access systems. Dale Hersowitz, VP of coworking at Yardi, said: “Access control has been very important in allowing contact-less access to the properties and meeting rooms.”
Such smart access systems also provide operators with tighter controls over who is granted access to the facilities. Kinnaird explained: “Operators can remotely manage user credentials while members can consume space as and when they need it without relying on a physical card or multiple touch points to get to their workspace. All this needs to be tied back to the billing and management systems allowing space to be accessed and consumed when needed.”
“Smart access can also help alongside Wi-Fi to give real time visibility over users in the space. Real-time occupancy measured by Wi-Fi devices connected to the network can show them who is in the office and where. This can help engineer new floor plans and space distribution that keep people at a safe distance,” Kinnaird added. essensys recently launched its Smart Access system to deliver frictionless experiences for flex-space users.
This requirement to monitor occupancy levels, while balancing member access with robust security at a space, is important. Felena Hanson, founder at Hera Hub, said: “We installed security cameras in our spaces (something we didn’t feel the need for before) and expanded the use of our member management software (Nexudus) to limit the number of people utilizing the coworking space at any given time. Pre-pandemic, only private meeting rooms were booked out. We want to ensure members that the space will be under capacity when they arrive.”
Office Evolution uses the Greetly no-touch visitor system, where members and guests can check in using their smartphone. William Edmundson, chief operating officer at Office Evolution, said: “Not only does this protect our staff and members from having to engage in face-to-face conversation, if they prefer; but it also eliminates the risk of having people congregate around the front desk. This has been an important piece of technology that we have added in our locations.”
However, Office Evolution’s model isn’t like most other coworking models. “Our locations have a high volume of private offices, which allow for inherent social distancing. Our members appreciate that they are not only able to social distance by working in their own private office, but also that their workspaces foster productivity and are void of distractions that people may encounter at traditional workspace areas or when working from home,” Edmundson explained.
A cloud-based access control solution can also provide additional benefits, including “access for regular deliveries and maintenance, cleaning services, and members of the flexible workspace,” Klaver added.
“The SALTO KS Mobile Key allows a multitude of possibilities that make additional administrative tasks obsolete. With the help of BLE technology (Bluetooth Low Energy), you can carry out remote openings and send your member a secured message, therefore enabling him or her to open the door with their smartphone,” he explained.
SALTO KS is also an integrated solution and compatible with many third-party solutions. “Booking meetings, CRM, finances, and inventories are just a few areas in which integrations can streamline automation of processes for your flexible workspace,” Klaver added.
Antimicrobial technologies can also help provide reassurances to members. “As flexible workspaces are more susceptible to contamination, implementing hardware and appliances with antimicrobial technology can drastically improve the hygiene of common touchpoints and help to prevent cross-contamination of microbes. For nearly a decade, SALTO, in partnership with BioCote®, has incorporated antimicrobial silver ion technology in its smart electronic lock range and supporting product hardware,” Klaver added.
While the return to work continues, operators should be prepared for hybrid working models. Michaela Ivanova, content marketing manager at OfficeRnD, said: “Companies are downsizing their offices and most of their employees are returning to the office on shifts. This creates the need for technology that facilitates the management of shared resources like desks within a private office (or within a hot desk area) — e.g. make them bookable, apply capacity limitations, etc.”
Ivanova added: “Having visibility on who’s in the office and when is also another essential focus. Also, member web and mobile apps like ours, that allow operators to keep their communities up to date and engaged, have also been extremely efficient during the lockdown and currently. Of course, any type of HVAC and air-purifying technologies have also been hugely adopted.”
So, it looks like we’re not free from virtual meetings in the near future. However, alternative offerings are now available with Convene creating a new product called Convene Virtual Meetings, which is a digital meeting and event platform that’s an alternative to Zoom meetings and events.
Ryan Simonetti, CEO and co-founder of Convene, said: “It addresses many of the issues of online meetings thanks to our expert team of Virtual Meeting Producers who offer live human support to ensure everything runs smoothly. This technology is also integrated into our Hybrid Meetings offering so any on-site Convene meeting or event has a seamless connection to a remote audience.”
“Our ultimate goal is to facilitate a hybrid work experience — one in which employees feel empowered and enabled to work from wherever they want, whenever they want,” Simonetti added.
As a result, spaces may need to improve their videoconferencing facilities. “Improving meeting room AV solutions are also popular, to support customer’s needs for hybrid meetings and because meetings are a key reason for their clients to return to the office,” Jon Seal, managing director of technologywithin, explained.
As the world continues to adapt to the changes introduced by COVID-19, there’s one technology that stands the test of time. A good internet connection.
Seal explained: “With the likelihood of larger companies decentralising central city offices and reconsidering their office strategies, our customers are looking for high quality services which will attract corporates into flex space. This means that internet bandwidth management services which are flexible enough to meet their security protocols are key.”
“There’s an increased requirement for high bandwidth and cloud connectivity,” according to Kinnaird, who concluded: “Employees will travel to the office expecting a better Wi-Fi and Internet connection than at home to conduct specific work such as uploading large media files, hosting a video conference, or performing monthly bill runs. Having a provider that can link directly to the major cloud providers without multiple internet hops can dramatically increase the user experience on all cloud applications – think no more stuttering Zoom, for example.”
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Stocks struggled in Friday’s session, closing out a rocky week on a quiet note following a volatile session that saw big tech stocks sell off sharply once again — which dragged down Wall Street in spite of encouraging developments in the economy.
In recent sessions, high profile tech stocks like Amazon (AMZN), Facebook (FB) and Apple (AAPL) have slumped sharply after hitting record highs. On Thursday, the sector’s rout led the Nasdaq to its worst day in about a week, and Friday saw the bellwether shed nearly 2% intraday.
Price action reflects how investors, who have bid up stocks relentlessly since late spring, are now rethinking prospects for a sharp economic rebound in the wake of a still raging COVID-19 pandemic and no immediate fiscal boost on the table.
“The prospects for further fiscal stimulus have dimmed further, as another week has gone by without any progress,” Goldman Sachs told clients in a research note on Friday.
“At this point, a major stimulus package before the election looks like a long shot and we expect Congress to leave at the end of September without extending the extra unemployment insurance payment, approving another round of stimulus payments, or providing additional support to small businesses or state and local governments,” the bank added.
Another 860,000 workers filed unemployment claims in the latest period, but that figure remained below 1 million for a third straight week. In another partly encouraging sign, continuing claims — a closely watched metric of the labor market’s health in real time — fell below 13 million. However, new housing starts fell sharply last month, data on Thursday showed, stoking concerns that a hot housing market could be cooling despite record low interest rates.
On Wednesday, the Fed signaled that near-zero interest rates would remain for at least the next three years, as the US economy continues to face risks around the ongoing pandemic.
Economic data has remained surprisingly buoyant in the face of widespread uncertainty stemming from the viral outbreak — the latest of which was September consumer confidence.However, Fed officials suggest that the quicker-than-expected early economic recovery could be jeopardized by the absence of more fiscal support.
And at least for now, Washington’s deadlock means hopes are waning for an eventual agreement that could boost consumers, small businesses and cash-strapped states and localities — which could also undermine growth in the last few months of 2020.
“Failure to pass any additional fiscal measures would likely lead us to downgrade our growth estimates for Q4,” Goldman wrote. “By contrast, enactment of the sort of package that President Trump or Speaker Pelosi have both endorsed would likely lead us to upgrade our view for Q4.”
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Economists at Goldman Sachs think we shouldn’t hold our breath waiting for new stimulus before the election.
In a somber research note, the bank says the stalemate means an accord “looks like a long shot,” and Congress will most likely adjourn this month without any movement toward a supplemental unemployment payment, or more lifelines to small businesses, states and municipalities:
But wait, there’s more — and it’s not good for this year’s growth prospects:
The outcome of the fiscal debate is likely to mean changes to our forecast for Q4. Our current forecast assumes a $1 trillion package, including partial extension of the extra unemployment benefit and additional PPP loans. Failure to pass any additional fiscal measures would likely lead us to downgrade our growth estimates for Q4. By contrast, enactment of the sort of package that President Trump or Speaker Pelosi have both endorsed would likely lead us to upgrade our view for Q4.
There is still a fairly good chance for additional stimulus, eventually. If Democrats win the White House and both chambers of Congress, we expect them to pass a large fiscal stimulus package, similar to the $2.2 trillion proposal Speaker Pelosi has endorsed, as one of the first orders of business in 2021. This would be in addition to Vice President Biden’s longer-term fiscal expansion plans. Some additional fiscal relief would also be possible under divided government, though the magnitude would likely be much smaller.
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Here were the main moves in markets as of 12:05.m. ET:
S&P 500 (^GSPC): 3,340.42, -16.59 (-0.49%)
Dow (^DJI): 27,866.02, -35.96 (-0.13%)
Nasdaq (^IXIC): 10,834.54, -75.73 (-0.69%)
Crude (CL=F): $41.17 per barrel, +0.20 (+0.49%)
Gold (GC=F): $1,959.50, +$9.60 (+0.49%)
10-year Treasury (^TNX): flat to yield 0.67200%
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Oracle’s (ORCL) stock is virtually unchanged on the day near $60, as White House spokeswoman Kayleigh McEnany tells reporters that the Trump administration is still working toward a resolution of the standoff with Chinese-owned TikTok, even as it prepares to block downloads of the service on Sunday.
Meanwhile, interim CEO Vanessa Papas is calling on competing social networks like Facebook (FB) to take up TikTok’s fight against the president’s decision, in the interest of solidarity:
We agree that this type of ban would be bad for the industry. We invite Facebook and Instagram to publicly join our challenge and support our litigation. This is a moment to put aside our competition and focus on core principles like freedom of expression and due process of law.
— Vanessa Pappas (@v_ness) September 18, 2020
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Despite the gloomier outlook for September — and still no sign of a new stimulus package — the University of Michigan’s preliminary read on consumer confidence showed that sentiment jumped to 78.9 vs. 74.1 in the prior month. Current economic conditions index rose to 87.5 vs. 82.9 last month, and expectations also gained, to 73.3 vs. 68.5 last month; the highest since March.
According to Capital Economics’ Michael Pearce:
The solid gain in confidence is…slightly at odds with many of the typical drivers of consumer confidence, with stock prices falling and gasoline prices stable so far this month, and we were still braced for some delayed impact from the expiry of additional federal unemployment benefits at the end of July, which we think reduced household incomes by close to 5%. In the event, the rise in consumer confidence could simply reflect a continued improvement in labour market conditions at the beginning of this month.
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Here were the main moves in markets as of 9:30 a.m. ET:
S&P 500 (^GSPC): 3,360.53, +3.52 (+0.10%)
Dow (^DJI): 27,892.00, -9.98 (-0.04%)
Nasdaq (^IXIC): 10,943.29, +33.01 (+0.30%)
Crude (CL=F): $41.03 per barrel, +0.06 (+0.15%)
Gold (GC=F): $1,956.70, +6.80 (+0.35%)
10-year Treasury (^TNX): flat to yield 0.67200%
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Here were the main moves in equity markets, as of 8:25 a.m. ET Friday:
S&P 500 futures (ES=F): 3,362.25, +0.75 (+0.02%)
Dow futures (YM=F): 27,895.00, -43.00 (-0.15%)
Nasdaq futures (NQ=F): 11,130.50, +40.50 (+0.37%)
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The TikTok saga isn’t over just yet — the Trump administration will ban downloads of the viral video app, along with messaging service WeChat, on Sunday. If carried out, the apps will be blocked from mobile app stores, and makes good on a threat to block the Chinese-owned services based on national security grounds. It also suggests Oracle’s (ORCL) bid to partner with TikTok was insufficient to pass muster with China hawks in the administration.
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Here were the main moves in equity markets, as of 6:30 p.m. ET Thursday:
S&P 500 futures (ES=F): 3350.00, flat
Dow futures (YM=F): 27817, flat
Nasdaq futures (NQ=F): 11075.00, flat
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 30, 2019. REUTERS/Brendan McDermid
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Apollo, one of most the popular Reddit clients for iOS, has just been updated with iOS 14 widgets and picture-in-picture support, which is now available for iPhone and iPod touch users. Today’s update follows the release of Apollo for Reddit version 1.9 last week with crossposting support, image flair, and more.
Version 1.10 of Apollo for Reddit brings more than 10 widgets that can be added to the Home Screen of the iPhone, iPod touch, and iPad with iOS 14 and iPadOS 14. You can choose widgets of different sizes with featured posts, recent posts, feed grid, subreddit shortcuts, and even posts from the popular Showerthoughts subreddit.
The update also enables picture-in-picture for videos, so you can keep watching them even while using another app. Picture-in-picture has been available on the iPad for years, but it was only introduced to the iPhone and iPod touch with iOS 14.
Apollo’s release notes also highlight some of the new features added in version 1.9, such as crossposting support, image flairs, and built-in translations.
Massive update ahead! iOS 14 features like Widgets, Picture in Picture Video, new Photo Picker, plus tons of other stuff like crossposting, flair improvements, translation features, and so much more! Read on!
# Widgets
Apollo now includes a bunch of awesome, customizable iOS 14 home screen widgets to show posts, shortcuts, and more! To add, simply long-press on the home screen, tap the + in the top corner, and select Apollo!
# Picture in Picture Video
Apollo now lets you enjoy Picture in Picture video so you can continue watching video from Apollo when you’re doing other things!
Apollo for Reddit is available for free on the App Store with in-app purchases. It requires an iPhone, iPad, or iPod touch running iOS 12 or later.
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Ivy Tech President Sue Ellspermann will make an announcement regarding the community college’s presence in Hamilton County at 1 p.m. Sept. 15 at the Ivy Tech Noblesville campus at 300 N. 17th St.
Ellspermann will be joined by Noblesville Mayor Chris Jensen and Hamilton County Commissioner Steve Dillinger. Ivy Tech Chancellor Kathleen Lee and Ivy Tech students Abby Haley and Luke Hiatt also will attend.
Anyone planning to attend should email Jeff Fanter at jfanter@ivytech.edu.
Smart contracts and Bitcoin. These technical phenomena are rarely associated with each other, often because people believe Bitcoin’s paired-down scripting language can’t support the smart contract applications that have become the darlings of the Ethereum ecosystem.
But as the new smart contract-enabling protocol RGB launches its beta, the folks at the LNP/BP Standards Association are trying to change this perception.
The group (whose acronym is short for Lightning Network Protocol and Bitcoin Protocol) is building RGB, a smart contract network built on top of Bitcoin. (The protocol is named after the “RGB” additive coloring scheme because it originally started as a project to improve Bitcoin’s colored coins scheme for tokenized assets.)
The “third layer” network, as one of its architects, Giacomo Zucco, calls it, has entered beta and could help outfit Bitcoin with the tokenizing capabilities that have made Ethereum the go-to blockchain for issuing tokenized assets like securities, collectibles, crypto dollars and more.
Read more: A Protocol for Issuing Tokens Launches on Bitcoin’s Lightning Network
RGB was first conceptualized by Bitcoin Core developer and cryptography consultant Peter Todd. With undisclosed funding from Bitfinex/Tether, Fulgur Ventures and Poseidon Group, the protocol just entered beta two months ago. LNP/BP head Giacomo Zucco clarified that the “RGB node for the software itself is in beta” but that all RGB-compatible wallets are still in alpha.
The pursuit of Bitcoin-based smart contracts – and more generally, tokenizing assets on Bitcoin – is nothing new.
Read more: Writing Bitcoin Smart Contracts Is About to Get Easier With New Coding Language
Bitcoin’s OP_RETURN function has allowed for limited smart contract functionality since the coin’s inception. This function set the technical groundwork for Bitcoin-based NFTs/collectibles through the Counterparty protocol, as well as the issuance of the tether (USDT) stablecoin on Bitcoin through the Omni protocol.
For its own part, the Lightning Network’s hash time-lock contracts – the technical parameters that lock bitcoin (BTC) into payment channels on the secondary network – are a form of smart contract.
So-called “sidechains” are trusted blockchains in the sense that a federated body of representatives run the nodes that oversee the sidechain’s operations, such as issuing assets and “pegging” bitcoin into the sidechain. These networks, running parallel to a decentralized blockchain like Bitcoin, market smart-contract functions as one of their primary use cases.
RGB, on the other hand, is not a trusted blockchain like RSK or Liquid, nor does it rely on Bitcoin’s main chain to execute transactions like Omni or Counterparty. Instead, its design is taken in the image of its technical cousin, the Lightning Network.
Read more: What Is Bitcoin’s Lightning Network?
The Lightning Network relies on “client-side verification” for its peers to verify the movement of funds. When you send funds to a peer on Lightning, the “state” of the payment channel with this peer is updated on both your Lightning node and your peer’s Lightning node. The final state of the payment channel is not recorded on Bitcoin’s blockchain until the channel is closed.
This delayed verification allows the Lightning Network to process near-instantaneous payments, but this comes at a cost: You must keep your node running at all times or the peer on the other end of your payment channel may try to cheat you by broadcasting a false channel state to the blockchain (a technical service known as Watchtowers are working to mitigate this attack vector).
Zucco said RGB “leverages the techniques and trade-offs of Lightning,” in that assets will be transferred in the same way.
“The RGB design is a client-side validation design. It means that when I send you something, I don’t publish the transfer on the network; I send it to you, peer-to-peer, and I will just use the public network to prevent double-spending. You should use the blockchain only to prevent double-spending, but not for transferring assets.”
He emphasized that the trade-offs are the same as in Lightning and stressed that each RGB node will need to keep backup data of its entire state.
To issue assets on RGB, the issuer creates a “schema” for the asset that defines parameters like fungibility, circulating supply and inflation rate, among others. The asset and its schema are then anchored to a reference point on Bitcoin’s blockchain, such as a UTXO or an address, to index the token and its schema.
The long-term goal is to make RGB compatible with Lightning, but seeing as the project is still in beta this integration will be some time in the making before it is user-ready.
Until that integration happens, one concrete and logical use case for RGB on its own is for NFTs (although Zucco personally doesn’t find this too exciting). NFTs are unique tokens that typically represent a digital collectible such as a piece of art.
Read more: Money Reimagined: Bitcoin and Ethereum Are a DeFi Double Act
The classic example is CryptoKitties, those breedable NFT felines minted on the Ethereum network. Another perhaps less-familiar example comes from the RarePepe cards issued on Bitcoin using the Counterparty protocol.
RGB could have a leg up on these forms of NFTs because RGB would allow you to send the computer file for the NFT in the same transaction as the asset that represents it. When you send a CryptoKitty as an ERC-721 token on Ethereum or a RarePepe “colored coin” on Bitcoin, the file for the actual collectible has to be transferred separately. With RGB, both asset and collectible can be “sent inside the same channel,” Zucco claimed.
A more salient use case for RGB, according to Zucco, would come from issuing tether on the protocol. Since all transactions are handled off-chain, Zucco said RGB carries with it the promise to be possibly more private than even the Lightning Network.
For something like the stablecoin tether, whose on-chain address on blockchains like Bitcoin, Ethereum, EOS and Tron can be easily tracked and, in extreme scenarios, blacklisted, this could bolster tether’s privacy and censorship resistance.
Read more: High Ethereum Fees Push Tether to Its Eighth Blockchain, OMG Network
“RGB is very private. I cannot follow an RGB asset on the blockchain. Only when you receive an asset do you see the history of the asset, but it’s obfuscated cryptographically with Confidential Transactions technology we reused from Blockstream. Once you send an asset, you won’t be able to see where it goes afterwards,” Zucco told CoinDesk.
Of course, before these use cases can be realized, RGB needs some battle testing in beta. And there’s still Lightning Network integration and wallet design to consider, as well.
The LNP/BP Standards Association won’t be designing a wallet itself, Zucco said, but will work with third-party developers that do.
After all, LNP/BP will have itd hands full hardening the RGB backbone: its source code. As for the protocol’s appendages – its wallets and other integrations – this development will be up to Bitcoin’s distributed community to bring to life.
Colin Harper
