I've spent over 50 hours researching one-person firms, which interest me. I've found countless one-person enterprises that made millions on the founder's determination and perseverance.

Throughout my investigation, I found three of the most outstanding one-person enterprises. These enterprises show that people who work hard and dedicate themselves to their ideas may succeed.

Eric Barone (@ConcernedApe) created Stardew Valley in 2011 to better his job prospects. Eric loved making the game, in which players inherit a farm, grow crops, raise livestock, make friends with the villagers, and form a family.

Eric handled complete game production, including 3D graphics, animations, and music, to maintain creative control. He stopped job hunting and worked 8-15 hours a day on the game.

Eric developed a Stardew Valley website and subreddit to engage with gamers and get feedback. Eric's devoted community helped him meet Steam's minimum vote requirement for single creators.

Stardew Valley sold 1 million copies in two months after Eric launched it for $15 in 2016. The game has sold 20 million copies and made $300 million.

The game's inexpensive price, outsourcing of PR, marketing, and publication, and loyal player base helped it succeed. Eric has turned down million-dollar proposals from Sony and Nintendo to sell the game and instead updates and improves it. Haunted Chocolatier is Eric's new game.

Is farming not profitable? Ask Stardew Valley creator Eric Barone.

Gary Brewer established BuiltWith to assist users find website technologies and services. BuiltWith boasts 3000 paying customers and $14 million in yearly revenue, making it a significant resource for businesses wishing to generate leads, do customer analytics, obtain business insight, compare websites, or search websites by keyword.

BuiltWith has one full-time employee, Gary, and one or two part-time contractors that help with the blog. Gary handles sales, customer service, and other company functions alone.

BuiltWith acquired popularity through blog promotions and a top Digg ranking. About Us, a domain directory, connected to BuiltWith on every domain page, boosting it. Gary introduced $295–$995 monthly subscriptions to search technology, keywords, and potential consumers in response to customer demand.

Gary uses numerous methods to manage a firm without staff. He spends one to two hours every day answering user queries, most of which are handled quickly by linking to BuiltWiths knowledge store. Gary creates step-by-step essays or videos for complex problems. Gary can focus on providing new features based on customer comments and requests since he makes it easy to unsubscribe.

BuiltWith is entirely automated and successful due to its unique approach and useful offerings. It works for Google, Meta, Amazon, and Twitter.

Digital Inspiration develops Google Documents, Sheets, and Slides plugins. Digital Inspiration, founded by Amit Agarwal, receives 5 million monthly visits and earns $10 million. 40 million individuals have downloaded Digital Inspirations plugins.

Amit started Digital Inspiration by advertising his blog at tech events and getting Indian filter blogs and other newspapers to promote his articles. Amit built plugins and promoted them on the blog once the blog acquired popularity, using ideas from comments, friends, and Reddit. Digital Inspiration has over 20 free and premium plugins.

Mail Merge, Notifications for Google Forms, YouTube Uploader, and Document Studio are some of Digital Inspiration's most popular plugins. Mail Merge allows users to send personalized emails in bulk and track email opens and clicks.

Since Amits manages Digital Inspiration alone, his success is astounding. Amit developed a successful company via hard work and creativity, despite platform dependence. His tale inspires entrepreneurs.

It’s Zuora’s, and it’s brilliant. Here’s why.

My friend Tim got a sales position at a Series-C software company that garnered $60 million from A-list investors. He's one of the best salespeople I know, yet he emailed me after starting to struggle.

Tim has a few modest clients. “Big companies ignore my pitch”. Tim said.

I love helping teams write the strategic story that drives sales, marketing, and fundraising. Tim and I had lunch at Amber India on Market Street to evaluate his deck.

After a feast, I asked Tim when prospects tune out.

He said, “several slides in”.

Intent on maximizing dining ROI, Tim went back to the buffet for seconds. When he returned, I pulled out my laptop and launched into a Powerpoint presentation.

“What’s this?” Tim asked.

“This,” I said, “is the greatest sales deck I have ever seen.”

Five Essentials of a Great Sales Narrative

I showed Tim a sales slide from IPO-bound Zuora, which sells a SaaS platform for subscription billing. Zuora supports recurring payments (e.g. enterprise software).

Ex-Zuora salesman gave me the deck, saying it helped him close his largest business. (I don't know anyone who works at Zuora.) After reading this, a few Zuora employees contacted me.)

Tim abandoned his naan in a pool of goat curry and took notes while we discussed the Zuora deck.

We remarked how well the deck led prospects through five elements:

(The ex-Zuora salesperson begged me not to release the Zuora deck publicly.) All of the images below originate from Zuora's website and SlideShare channel.)

#1. Name a Significant Change in the World

Don't start a sales presentation with mentioning your product, headquarters, investors, clients, or yourself.

Name the world shift that raises enormous stakes and urgency for your prospect.

Every Zuora sales deck begins with this slide:

Zuora coined the term subscription economy to describe a new market where purchasers prefer regular service payments over outright purchases. Zuora then shows a slide with the change's history.

Most pitch recommendation advises starting with the problem. When you claim a problem, you put prospects on the defensive. They may be unaware of or uncomfortable admitting the situation.

When you highlight a global trend, prospects open up about how it affects them, worries them, and where they see opportunity. You capture their interest. Robert McKee says:

…what attracts human attention is change. …if the temperature around you changes, if the phone rings — that gets your attention. The way in which a story begins is a starting event that creates a moment of change.

#2. Show There’ll Be Winners and Losers

Loss aversion affects all prospects. They avoid a loss by sticking with the status quo rather than risking a gain by changing.

To fight loss aversion, show how the change will create winners and losers. You must show both

1. that if the prospect can adjust to the modification you mentioned, the outcome will probably be quite favorable; and

2. That failing to do so is likely to have an unacceptable negative impact on the prospect's future

Zuora shows a mass extinction among Fortune 500 firms.

…and then showing how the “winners” have shifted from product ownership to subscription services. Those include upstarts…

…as well as rejuvenated incumbents:

To illustrate, Zuora asks:

Winners utilize Zuora's subscription service models.

#3. Tease the Promised Land

It's tempting to get into product or service details now. Resist that urge.

Prospects won't understand why product/service details are crucial if you introduce them too soon, therefore they'll tune out.

Instead, providing a teaser image of the happily-ever-after your product/service will assist the prospect reach.

Your Promised Land should be appealing and hard to achieve without support. Otherwise, why does your company exist?

Zuora shows this Promised Land slide after explaining that the subscription economy will have winners and losers.

Not your product or service, but a new future state.

(I asked my friend Tim to describe his Promised Land, and he answered, "You’ll have the most innovative platform for ____." Nope: the Promised Land isn't possessing your technology, but living with it.)

Your Promised Land helps prospects market your solution to coworkers after your sales meeting. Your coworkers will wonder what you do without you. Your prospects are more likely to provide a persuasive answer with a captivating Promised Land.

#4. Present Features as “Mystic Gifts” for Overcoming Difficulties on the Road to the Promised Land

Successful sales decks follow the same format as epic films and fairy tales. Obi Wan gives Luke a lightsaber to help him destroy the Empire. You're Gandalf, helping Frodo destroy the ring. Your prospect is Cinderella, and you're her fairy godmother.

Position your product or service's skills as mystical gifts to aid your main character (prospect) achieve the Promised Land.

Zuora's client record slide is shown above. Without context, even the most technical prospect would be bored.

Positioned in the context of shifting from an “old” to a “new world”, it's the foundation for a compelling conversation with prospects—technical and otherwise—about why traditional solutions can't reach the Promised Land.

#5. Show Proof That You Can Make the Story True.

In this sense, you're promising possibilities that if they follow you, they'll reach the Promised Land.

The journey to the Promised Land is by definition rocky, so prospects are right to be cautious. The final part of the pitch is proof that you can make the story come true.

The most convincing proof is a success story about how you assisted someone comparable to the prospect. Zuora's sales people use a deck of customer success stories, but this one gets the essence.

I particularly appreciate this one from an NCR exec (a Zuora customer), which relates more strongly to Zuora's Promised Land:

Not enough successful customers? Product demos are the next best evidence, but features should always be presented in the context of helping a prospect achieve the Promised Land.

The best sales narrative is one that is told by everyone.

Success rarely comes from a fantastic deck alone. To be effective, salespeople need an organization-wide story about change, Promised Land, and Magic Gifts.

Zuora exemplifies this. If you hear a Zuora executive, including CEO Tien Tzuo, talk, you'll likely hear about the subscription economy and its winners and losers. This is the theme of the company's marketing communications, campaigns, and vision statement.

According to the ex-Zuora salesperson, company-wide story alignment made him successful.

The Zuora marketing folks ran campaigns and branding around this shift to the subscription economy, and [CEO] Tien [Tzuo] talked it up all the time. All of that was like air cover for my in-person sales ground attack. By the time I arrived, prospects were already convinced they had to act. It was the closest thing I’ve ever experienced to sales nirvana.

The largest deal ever

Tim contacted me three weeks after our lunch to tell me that prospects at large organizations were responding well to his new deck, which we modeled on Zuora's framework. First, prospects revealed their obstacles more quickly. The new pitch engages CFOs and other top gatekeepers better, he said.

A week later, Tim emailed that he'd signed his company's biggest agreement.

Next week, we’re headed back to Amber India to celebrate.

Software can change any company.

Software is becoming essential. Everyone should consider how software affects their lives and others'.

Software on your phone, tablet, or computer offers many new options. We're experts in enough ways now.

Software Business Ideas will be popular by 2023.

ERP Programs

ERP software meets rising demand.

ERP solutions automate and monitor tasks that large organizations, businesses, and even schools would struggle to do manually.

ERP software could reach $49 billion by 2024.

CRM Program

CRM software is a must-have for any customer-focused business.

Having an open mind about your business services and products allows you to change platforms.

Another company may only want your CRM service.

Medical software

Healthcare facilities need reliable, easy-to-use software.

EHRs, MDDBs, E-Prescribing, and more are software options.

The global medical software market could reach $11 billion by 2025, and mobile medical apps may follow.

Presentation Software in the Cloud

SaaS presentation tools are great.

They're easy to use, comprehensive, and full of traditional Software features.

In today's cloud-based world, these solutions make life easier for people. We don't know about you, but we like it.

Software for Project Management

People began working remotely without signs or warnings before the 2020 COVID-19 pandemic.

Many organizations found it difficult to track projects and set deadlines.

With PMP software tools, teams can manage remote units and collaborate effectively.

App for Blockchain-Based Invoicing

This advanced billing and invoicing solution is for businesses and freelancers.

These blockchain-based apps can calculate taxes, manage debts, and manage transactions.

Intelligent contracts help blockchain track transactions more efficiently. It speeds up and improves invoice generation.

Software for Business Communications

Internal business messaging is tricky.

Top business software tools for communication can share files, collaborate on documents, host video conferences, and more.

Payroll Automation System

Software development also includes developing an automated payroll system.

These software systems reduce manual tasks for timely employee payments.

These tools help enterprise clients calculate total wages quickly, simplify tax calculations, improve record-keeping, and support better financial planning.

System for Detecting Data Leaks

Both businesses and individuals value data highly. Yahoo's data breach is dangerous because of this.

This area of software development can help people protect their data.

You can design an advanced data loss prevention system.

AI-based Retail System

AI-powered shopping systems are popular. The systems analyze customers' search and purchase patterns and store history and are equipped with a keyword database.

These systems offer many customers pre-loaded products.

AI-based shopping algorithms also help users make purchases.

Software for Detecting Plagiarism

Software can help ensure your projects are original and not plagiarized.

These tools detect plagiarized content that Google, media, and educational institutions don't like.

Software for Converting Audio to Text

Machine Learning converts speech to text automatically.

These programs can quickly transcribe cloud-based files.

Software for daily horoscopes

Daily and monthly horoscopes will continue to be popular.

Software platforms that can predict forecasts, calculate birth charts, and other astrology resources are good business ideas.

E-learning Programs

Traditional study methods are losing popularity as virtual schools proliferate and physical space shrinks.

Khan Academy online courses are the best way to keep learning.

Online education portals can boost your learning. If you want to start a tech startup, consider creating an e-learning program.

Conclusion

Software is booming. There's never been a better time to start a software development business, with so many people using computers and smartphones. This article lists eight business ideas for 2023. Consider these ideas if you're just starting out or looking to expand.

The Traffic Light Approach to Reviewing Personal, Team and Project Development

What needs improvement? If you want to improve, you need to practice your sport, musical instrument, habit, or work project. You need to assess your progress.

Continuous improvement is the foundation of focused practice and a growth mentality. Not just individually. High-performing teams pursue improvement. Right? Why is it hard?

As a leadership coach, senior manager, and high-level athlete, I've found three key questions that may unlock high performance in individuals and teams.

Problems with Reviews

Reviewing and improving performance is crucial, however I hate seeing review sessions in my diary. I rarely respond to questionnaire pop-ups or emails. Why?

Time constrains. Requests to fill out questionnaires often state they will take 10–15 minutes, but I can think of a million other things to do with that time. Next, review overload. Businesses can easily request comments online. No matter what you buy, someone will ask for your opinion. This bombardment might make feedback seem bad, which is bad.

The problem is that we might feel that way about important things like personal growth and work performance. Managers and team leaders face a greater challenge.

When to Conduct a Review

We must be wise about reviewing things that matter to us. Timing and duration matter. Reviewing the experience as quickly as possible preserves information and sentiments. Time must be brief. The review's importance and size will determine its length. We might only take a few seconds to review our morning coffee, but we might require more time for that six-month work project.

These post-event reviews should be supplemented by periodic reflection. Journaling can help with daily reflections, but I also like to undertake personal reviews every six months on vacation or at a retreat.

As an employee or line manager, you don't want to wait a year for a performance assessment. Little and frequently is best, with a more formal and in-depth assessment (typically with a written report) in 6 and 12 months.

The Easiest Method to Conduct a Review Session

I follow Einstein's review process:

“Make things as simple as possible but no simpler.”

Thus, it should be brief but deliver the necessary feedback. Quality critique is hard to receive if the process is overly complicated or long.

I have led or participated in many review processes, from strategic overhauls of big organizations to personal goal coaching. Three key questions guide the process at either end:

• What ought to stop being done?

• What should we do going forward?

• What should we do first?

Following the Rule of 3, I compare it to traffic lights. Red, amber, and green lights:

• Red What ought should we stop?

• Amber What ought to we keep up?

• Green Where should we begin?

This approach is easy to understand and self-explanatory, however below are some examples under each area.

Red What ought should we stop?

As a team or individually, we must stop doing things to improve.

Sometimes they're bad. If we want to lose weight, we should avoid sweets. If a team culture is bad, we may need to stop unpleasant behavior like gossiping instead of having difficult conversations.

Not all things we should stop are wrong. Time matters. Since it is finite, we sometimes have to stop nice things to focus on the most important. Good to Great author Jim Collins famously said:

“Don’t let the good be the enemy of the great.”

Prioritizing requires this idea. Thus, decide what to stop to prioritize.

Amber What ought to we keep up?

Should we continue with the amber light? It helps us decide what to keep doing during review. Many items fall into this category, so focus on those that make the most progress.

Which activities have the most impact? Which behaviors create the best culture? Success-building habits?

Use these questions to find positive momentum. These are the fly-wheel motions, according to Jim Collins. The Compound Effect author Darren Hardy says:

“Consistency is the key to achieving and maintaining momentum.”

What can you do consistently to reach your goal?

Green Where should we begin?

Finally, green lights indicate new beginnings. Red/amber difficulties may be involved. Stopping a red issue may give you more time to do something helpful (in the amber).

This green space inspires creativity. Kolbs learning cycle requires active exploration to progress. Thus, it's crucial to think of new approaches, try them out, and fail if required.

This notion underpins lean start-build, up's measure, learn approach and agile's trying, testing, and reviewing. Try new things until you find what works. Thomas Edison, the lighting legend, exclaimed:

“There is a way to do it better — find it!”

Failure is acceptable, but if you want to fail forward, look back on what you've done.

John Maxwell concurred with Edison:

“Fail early, fail often, but always fail forward”

A good review procedure lets us accomplish that. To avoid failure, we must act, experiment, and reflect.

Use the traffic light system to prioritize queries. Ask:

• Red What needs to stop?

• Amber What should continue to occur?

• Green What might be initiated?

Take a moment to reflect on your day. Check your priorities with these three questions. Even if merely to confirm your direction, it's a terrific exercise!

Three options exist. The third one is the quickest and most fruitful.

You've mastered crypto trading and want to become a broker.

So you may wonder: Where to begin?

If so, keep reading.

Today I'll compare three different approaches to becoming a cryptocurrency trader.

What are cryptocurrency brokers, and how do they vary from stockbrokers?

A stockbroker implements clients' market orders (retail or institutional ones).

Brokerage firms are regulated, insured, and subject to regulatory monitoring.

Stockbrokers are required between buyers and sellers. They can't trade without a broker. To trade, a trader must open a broker account and deposit money. When a trader shops, he tells his broker what orders to place.

Crypto brokerage is trade intermediation with cryptocurrency.

In crypto trading, however, brokers are optional.

Crypto exchanges offer direct transactions. Open an exchange account (no broker needed) and make a deposit.

Question:

Since crypto allows DIY trading, why use a broker?

Let's compare cryptocurrency exchanges vs. brokers.

Broker versus cryptocurrency exchange

Most existing crypto exchanges are basically brokers.

Examine their primary services:

• connecting purchasers and suppliers

• having custody of clients' money (with the exception of decentralized cryptocurrency exchanges),

• clearance of transactions.

Brokerage is comparable, don't you think?

There are exceptions. I mean a few large crypto exchanges that follow the stock exchange paradigm. They outsource brokerage, custody, and clearing operations. Classic exchange setups are rare in today's bitcoin industry.

Back to our favorite “standard” crypto exchanges. All-in-one exchanges and brokers. And usually, they operate under a broker or a broker-dealer license, save for the exchanges registered somewhere in a free-trade offshore paradise. Those don’t bother with any licensing.

What’s the sense of having two brokers at a time?

Better liquidity and trading convenience.

The crypto business is compartmentalized.

We have CEXs, DEXs, hybrid exchanges, and semi-exchanges (those that aggregate liquidity but do not execute orders on their sides). All have unique regulations and act as sovereign states.

There are about 18k coins and hundreds of blockchain protocols, most of which are heterogeneous (i.e., different in design and not interoperable).

A trader must register many accounts on different exchanges, deposit funds, and manage them all concurrently to access global crypto liquidity.

It’s extremely inconvenient.

Crypto liquidity fragmentation is the largest obstacle and bottleneck blocking crypto from mass adoption.

Crypto brokers help clients solve this challenge by providing one-gate access to deep and diverse crypto liquidity from numerous exchanges and suppliers. Professionals and institutions need it.

Another killer feature of a brokerage may be allowing clients to trade crypto with fiat funds exclusively, without fiat/crypto conversion. It is essential for professional and institutional traders.

Who may work as a cryptocurrency broker?

Apparently, not anyone. Brokerage requires high-powered specialists because it involves other people's money.

Here's the essentials:

• excellent knowledge, skills, and years of trading experience

• high-quality, quick, and secure infrastructure

• highly developed team

• outstanding trading capital

• High-ROI network: long-standing, trustworthy connections with customers, exchanges, liquidity providers, payment gates, and similar entities

• outstanding marketing and commercial development skills.

What about a license for a cryptocurrency broker? Is it necessary?

Complex question.

If you plan to play in white-glove jurisdictions, you may need a license. For example, in the US, as a “money transmitter” or as a CASSP (crypto asset secondary services provider) in Australia.

Even in these jurisdictions, there are no clear, holistic crypto brokerage and licensing policies.

Your lawyer will help you decide if your crypto brokerage needs a license.

Getting a license isn't quick. Two years of patience are needed.

How can you turn into a cryptocurrency broker?

Finally, we got there! 🎉

Three actionable ways exist:

1. To kickstart a regulated stand-alone crypto broker

2. To get a crypto broker franchise, and

3. To become a liquidity network broker.

Let's examine each.

1. Opening a regulated cryptocurrency broker

It's difficult. Especially If you're targeting first-world users.

You must comply with many regulatory, technical, financial, HR, and reporting obligations to keep your organization running. Some are mentioned above.

The licensing process depends on the products you want to offer (spots or derivatives) and the geographic areas you plan to service. There are no general rules for that.

In an overgeneralized way, here are the boxes you will have to check:

• capital availability (usually a large amount of capital c is required)

• You will have to move some of your team members to the nation providing the license in order to establish an office presence there.

• the core team with the necessary professional training (especially applies to CEO, Head of Trading, Assistant to Head of Trading, etc.)

• insurance

• infrastructure that is trustworthy and secure

• adopted proper AML/KYC/financial monitoring policies, etc.

Assuming you passed, what's next?

I bet it won’t be mind-blowing for you that the license is just a part of the deal. It won't attract clients or revenue.

To bring in high-dollar clientele, you must be a killer marketer and seller. It's not easy to convince people to give you money.

You'll need to be a great business developer to form successful, long-term agreements with exchanges (ideally for no fees), liquidity providers, banks, payment gates, etc. Persuade clients.

It's a tough job, isn't it?

I expect a Quora-type question here:

Can I start an unlicensed crypto broker?

Well, there is always a workaround with crypto!

You can register your broker in a free-trade zone like Seychelles to avoid US and other markets with strong watchdogs.

This is neither wise nor sustainable.

First, such experiments are illegal.

Second, you'll have trouble attracting clients and strategic partners.

A license equals trust. That’s it.

Even a pseudo-license from Mauritius matters.

Here are this method's benefits and downsides.

Cons first.

• As you navigate this difficult and expensive legal process, you run the risk of missing out on business prospects. It's quite simple to become excellent compliance yet unable to work. Because your competitors are already courting potential customers while you are focusing all of your effort on paperwork.

• Only God knows how long it will take you to pass the break-even point when everything with the license has been completed.

• It is a money-burning business, especially in the beginning when the majority of your expenses will go toward marketing, sales, and maintaining license requirements. Make sure you have the fortitude and resources necessary to face such a difficult challenge.

Pros

• It may eventually develop into a tool for making money. Because big guys who are professionals at trading require a white-glove regulated brokerage. You have every possibility if you work hard in the areas of sales, marketing, business development, and wealth. Simply put, everything must align.

Launching a regulated crypto broker is analogous to launching a crypto exchange. It's ROUGH. Sure you can take it?

2. Franchise for Crypto Broker (Crypto Sub-Brokerage)

A broker franchise is easier and faster than becoming a regulated crypto broker. Not a traditional brokerage.

A broker franchisee, often termed a sub-broker, joins with a broker (a franchisor) to bring them new clients. Sub-brokers market a broker's products and services to clients.

Sub-brokers are the middlemen between a broker and an investor.

Why is sub-brokering easier?

• less demanding qualifications and legal complexity. All you need to do is keep a few certificates on hand (each time depends on the jurisdiction).

• No significant investment is required

• there is no demand that you be a trading member of an exchange, etc.

As a sub-broker, you can do identical duties without as many rights and certifications.

What about the crypto broker franchise?

Sub-brokers aren't common in crypto.

In most existing examples (PayBito, PCEX, etc.), franchises are offered by crypto exchanges, not brokers. Though we remember that crypto exchanges are, in fact, brokers, do we?

Similarly:

• For a commission, a franchiser crypto broker receives new leads from a crypto sub-broker.

See above for why enrolling is easy.

Finding clients is difficult. Most crypto traders prefer to buy-sell on their own or through brokers over sub-broker franchises.

3. Broker of the Crypto Trading Network (or a Network Broker)

It's the greatest approach to execute crypto brokerage, based on effort/return.

Network broker isn't an established word. I wrote it for clarity.

Remember how we called crypto liquidity fragmentation the current crypto finance paradigm's main bottleneck?

Where there's a challenge, there's progress.

Several well-funded projects are aiming to fix crypto liquidity fragmentation. Instead of launching another crypto exchange with siloed trading, the greatest minds create trading networks that aggregate crypto liquidity from desynchronized sources and enable quick, safe, and affordable cross-blockchain transactions. Each project offers a distinct option for users.

Crypto liquidity implies:

• One-account access to cryptocurrency liquidity pooled from network participants' exchanges and other liquidity sources

• compiled price feeds

• Cross-chain transactions that are quick and inexpensive, even for HFTs

• link between participants of all kinds, and

• interoperability among diverse blockchains

Fast, diversified, and cheap global crypto trading from one account.

How does a trading network help cryptocurrency brokers?

I’ll explain it, taking Yellow Network as an example.

Yellow provides decentralized Layer-3 peer-to-peer trading.

• trade across chains globally with real-time settlement and

• Between cryptocurrency exchanges, brokers, trading companies, and other sorts of network members, there is communication and the exchange of financial information.

Have you ever heard about ECN (electronic communication network)? If not, it's an automated system that automatically matches buy and sell orders. Yellow is a decentralized digital asset ECN.

Brokers can:

• Start trading right now without having to meet stringent requirements; all you need to do is integrate with Yellow Protocol and successfully complete some KYC verification.

• Access global aggregated crypto liquidity through a single point.

• B2B (Broker to Broker) liquidity channels that provide peer liquidity from other brokers. Orders from the other broker will appear in the order book of a broker who is peering with another broker on the market. It will enable a broker to broaden his offer and raise the total amount of liquidity that is available to his clients.

• Select a custodian or use non-custodial practices.

Comparing network crypto brokerage to other types:

• A licensed stand-alone brokerage business is much more difficult and time-consuming to launch than network brokerage, and

• Network brokerage, in contrast to crypto sub-brokerage, is scalable, independent, and offers limitless possibilities for revenue generation.

Yellow Network Whitepaper. has more details on how to start a brokerage business and what rewards you'll obtain.

Final thoughts

There are three ways to become a cryptocurrency broker, including the non-conventional liquidity network brokerage. The last option appears time/cost-effective.

Crypto brokerage isn't crowded yet. Act quickly to find your right place in this market.

Choose the way that works for you best and see you in crypto trading.

Discover Web3 & DeFi with Yellow Network!

Yellow, powered by Openware, is developing a cross-chain P2P liquidity aggregator to unite the crypto sector and provide global remittance services that aid people.

Join the Yellow Community and plunge into this decade's biggest product-oriented crypto project.

• Observe Yellow Twitter

• Enroll in Yellow Telegram

• Visit Yellow Discord.

• On Hacker Noon, look us up.

Yellow Network will expose development, technology, developer tools, crypto brokerage nodes software, and community liquidity mining.

ERC165 (or EIP-165) is a standard utilized by various open-source smart contracts like Open Zeppelin or Aavegotchi.

What's it? You must implement? Why do we need it? I'll describe the standard and answer any queries.

What is ERC165

ERC165 detects and publishes smart contract interfaces. Meaning? It standardizes how interfaces are recognized, how to detect if they implement ERC165, and how a contract publishes the interfaces it implements. How does it work?

Why use ERC165? Sometimes it's useful to know which interfaces a contract implements, and which version.

Identifying interfaces

An interface function's selector. This verifies an ABI function. XORing all function selectors defines an interface in this standard. The following code demonstrates.

// SPDX-License-Identifier: UNLICENCED
pragma solidity >=0.8.0 <0.9.0;

interface Solidity101 {
    function hello() external pure;
    function world(int) external pure;
}

contract Selector {
    function calculateSelector() public pure returns (bytes4) {
        Solidity101 i;
        return i.hello.selector ^ i.world.selector;
        // Returns 0xc6be8b58
    }

    function getHelloSelector() public pure returns (bytes4) {
        Solidity101 i;
        return i.hello.selector;
        // Returns 0x19ff1d21
    }

    function getWorldSelector() public pure returns (bytes4) {
        Solidity101 i;
        return i.world.selector;
        // Returns 0xdf419679
    }
}

This code isn't necessary to understand function selectors and how an interface's selector can be determined from the functions it implements.

Run that sample in Remix to see how interface function modifications affect contract function output.

Contracts publish their implemented interfaces.

We can identify interfaces. Now we must disclose the interfaces we're implementing. First, import IERC165 like so.

pragma solidity ^0.4.20;

interface ERC165 {
    /// @notice Query if a contract implements an interface
    /// @param interfaceID The interface identifier, as specified in ERC-165
    /// @dev Interface identification is specified in ERC-165. 
    /// @return `true` if the contract implements `interfaceID` and
    ///  `interfaceID` is not 0xffffffff, `false` otherwise
    function supportsInterface(bytes4 interfaceID) external view returns (bool);
}

We still need to build this interface in our smart contract. ERC721 from OpenZeppelin is a good example.

// SPDX-License-Identifier: MIT
// OpenZeppelin Contracts (last updated v4.5.0) (token/ERC721/ERC721.sol)

pragma solidity ^0.8.0;

import "./IERC721.sol";
import "./extensions/IERC721Metadata.sol";
import "../../utils/introspection/ERC165.sol";
// ...

contract ERC721 is Context, ERC165, IERC721, IERC721Metadata {
  // ...

  function supportsInterface(bytes4 interfaceId) public view virtual override(ERC165, IERC165) returns (bool) {
    return
      interfaceId == type(IERC721).interfaceId ||
      interfaceId == type(IERC721Metadata).interfaceId ||
      super.supportsInterface(interfaceId);
  }
  
  // ...
}

I deleted unnecessary code. The smart contract imports ERC165, IERC721 and IERC721Metadata. The is keyword at smart contract declaration implements all three.

Kind (interface).

Note that type(interface).interfaceId returns the same as the interface selector.

We override supportsInterface in the smart contract to return a boolean that checks if interfaceId is the same as one of the implemented contracts.

Super.supportsInterface() calls ERC165 code. Checks if interfaceId is IERC165.

function supportsInterface(bytes4 interfaceId) public view virtual override returns (bool) {
    return interfaceId == type(IERC165).interfaceId;
}

So, if we run supportsInterface with an interfaceId, our contract function returns true if it's implemented and false otherwise. True for IERC721, IERC721Metadata, andIERC165.

Conclusion

I hope this post has helped you understand and use ERC165 and why it's employed.

Have a great day, thanks for reading!