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Jonathan Vanian

Jonathan Vanian

4 years ago

What is Terra? Your guide to the hot cryptocurrency

With cryptocurrencies like Bitcoin, Ether, and Dogecoin gyrating in value over the past few months, many people are looking at so-called stablecoins like Terra to invest in because of their more predictable prices.

Terraform Labs, which oversees the Terra cryptocurrency project, has benefited from its rising popularity. The company said recently that investors like Arrington Capital, Lightspeed Venture Partners, and Pantera Capital have pledged $150 million to help it incubate various crypto projects that are connected to Terra.

Terraform Labs and its partners have built apps that operate on the company’s blockchain technology that helps keep a permanent and shared record of the firm’s crypto-related financial transactions.

Here’s what you need to know about Terra and the company behind it.

What is Terra?

Terra is a blockchain project developed by Terraform Labs that powers the startup’s cryptocurrencies and financial apps. These cryptocurrencies include the Terra U.S. Dollar, or UST, that is pegged to the U.S. dollar through an algorithm.

Terra is a stablecoin that is intended to reduce the volatility endemic to cryptocurrencies like Bitcoin. Some stablecoins, like Tether, are pegged to more conventional currencies, like the U.S. dollar, through cash and cash equivalents as opposed to an algorithm and associated reserve token.

To mint new UST tokens, a percentage of another digital token and reserve asset, Luna, is “burned.” If the demand for UST rises with more people using the currency, more Luna will be automatically burned and diverted to a community pool. That balancing act is supposed to help stabilize the price, to a degree.

“Luna directly benefits from the economic growth of the Terra economy, and it suffers from contractions of the Terra coin,” Terraform Labs CEO Do Kwon said.

Each time someone buys something—like an ice cream—using UST, that transaction generates a fee, similar to a credit card transaction. That fee is then distributed to people who own Luna tokens, similar to a stock dividend.

Who leads Terra?

The South Korean firm Terraform Labs was founded in 2018 by Daniel Shin and Kwon, who is now the company’s CEO. Kwon is a 29-year-old former Microsoft employee; Shin now heads the Chai online payment service, a Terra partner. Kwon said many Koreans have used the Chai service to buy goods like movie tickets using Terra cryptocurrency.

Terraform Labs does not make money from transactions using its crypto and instead relies on outside funding to operate, Kwon said. It has raised $57 million in funding from investors like HashKey Digital Asset Group, Divergence Digital Currency Fund, and Huobi Capital, according to deal-tracking service PitchBook. The amount raised is in addition to the latest $150 million funding commitment announced on July 16.

What are Terra’s plans?

Terraform Labs plans to use Terra’s blockchain and its associated cryptocurrencies—including one pegged to the Korean won—to create a digital financial system independent of major banks and fintech-app makers. So far, its main source of growth has been in Korea, where people have bought goods at stores, like coffee, using the Chai payment app that’s built on Terra’s blockchain. Kwon said the company’s associated Mirror trading app is experiencing growth in China and Thailand.

Meanwhile, Kwon said Terraform Labs would use its latest $150 million in funding to invest in groups that build financial apps on Terra’s blockchain. He likened the scouting and investing in other groups as akin to a “Y Combinator demo day type of situation,” a reference to the popular startup pitch event organized by early-stage investor Y Combinator.

The combination of all these Terra-specific financial apps shows that Terraform Labs is “almost creating a kind of bank,” said Ryan Watkins, a senior research analyst at cryptocurrency consultancy Messari.

In addition to cryptocurrencies, Terraform Labs has a number of other projects including the Anchor app, a high-yield savings account for holders of the group’s digital coins. Meanwhile, people can use the firm’s associated Mirror app to create synthetic financial assets that mimic more conventional ones, like “tokenized” representations of corporate stocks. These synthetic assets are supposed to be helpful to people like “a small retail trader in Thailand” who can more easily buy shares and “get some exposure to the upside” of stocks that they otherwise wouldn’t have been able to obtain, Kwon said. But some critics have said the U.S. Securities and Exchange Commission may eventually crack down on synthetic stocks, which are currently unregulated.

What do critics say?

Terra still has a long way to go to catch up to bigger cryptocurrency projects like Ethereum.

Most financial transactions involving Terra-related cryptocurrencies have originated in Korea, where its founders are based. Although Terra is becoming more popular in Korea thanks to rising interest in its partner Chai, it’s too early to say whether Terra-related currencies will gain traction in other countries.

Terra’s blockchain runs on a “limited number of nodes,” said Messari’s Watkins, referring to the computers that help keep the system running. That helps reduce latency that may otherwise slow processing of financial transactions, he said.

But the tradeoff is that Terra is less “decentralized” than other blockchain platforms like Ethereum, which is powered by thousands of interconnected computing nodes worldwide. That could make Terra less appealing to some blockchain purists.

More on Web3 & Crypto

Nitin Sharma

Nitin Sharma

3 years ago

Web3 Terminology You Should Know

The easiest online explanation.

Photo by Hammer & Tusk on Unsplash

Web3 is growing. Crypto companies are growing.

Instagram, Adidas, and Stripe adopted cryptocurrency.

Source: Polygon

Bitcoin and other cryptocurrencies made web3 famous.

Most don't know where to start. Cryptocurrency, DeFi, etc. are investments.

Since we don't understand web3, I'll help you today.

Let’s go.

1. Web3

It is the third generation of the web, and it is built on the decentralization idea which means no one can control it.

There are static webpages that we can only read on the first generation of the web (i.e. Web 1.0).

Web 2.0 websites are interactive. Twitter, Medium, and YouTube.

Each generation controlled the website owner. Simply put, the owner can block us. However, data breaches and selling user data to other companies are issues.

They can influence the audience's mind since they have control.

Assume Twitter's CEO endorses Donald Trump. Result? Twitter would have promoted Donald Trump with tweets and graphics, enhancing his chances of winning.

We need a decentralized, uncontrollable system.

And then there’s Web3.0 to consider. As Bitcoin and Ethereum values climb, so has its popularity. Web3.0 is uncontrolled web evolution. It's good and bad.

Dapps, DeFi, and DAOs are here. It'll all be explained afterwards.

2. Cryptocurrencies:

No need to elaborate.

Bitcoin, Ethereum, Cardano, and Dogecoin are cryptocurrencies. It's digital money used for payments and other uses.

Programs must interact with cryptocurrencies.

3. Blockchain:

Blockchain facilitates bitcoin transactions, investments, and earnings.

This technology governs Web3. It underpins the web3 environment.

Let us delve much deeper.

Blockchain is simple. However, the name expresses the meaning.

Blockchain is a chain of blocks.

Let's use an image if you don't understand.

The graphic above explains blockchain. Think Blockchain. The block stores related data.

Here's more.

4. Smart contracts

Programmers and developers must write programs. Smart contracts are these blockchain apps.

That’s reasonable.

Decentralized web3.0 requires immutable smart contracts or programs.

5. NFTs

Blockchain art is NFT. Non-Fungible Tokens.

Explaining Non-Fungible Token may help.

Two sorts of tokens:

  1. These tokens are fungible, meaning they can be changed. Think of Bitcoin or cash. The token won't change if you sell one Bitcoin and acquire another.

  2. Non-Fungible Token: Since these tokens cannot be exchanged, they are exclusive. For instance, music, painting, and so forth.

Right now, Companies and even individuals are currently developing worthless NFTs.

The concept of NFTs is much improved when properly handled.

6. Dapp

Decentralized apps are Dapps. Instagram, Twitter, and Medium apps in the same way that there is a lot of decentralized blockchain app.

Curve, Yearn Finance, OpenSea, Axie Infinity, etc. are dapps.

7. DAOs

DAOs are member-owned and governed.

Consider it a company with a core group of contributors.

8. DeFi

We all utilize centrally regulated financial services. We fund these banks.

If you have $10,000 in your bank account, the bank can invest it and retain the majority of the profits.

We only get a penny back. Some banks offer poor returns. To secure a loan, we must trust the bank, divulge our information, and fill out lots of paperwork.

DeFi was built for such issues.

Decentralized banks are uncontrolled. Staking, liquidity, yield farming, and more can earn you money.

Web3 beginners should start with these resources.

Elnaz Sarraf

Elnaz Sarraf

3 years ago

Why Bitcoin's Crash Could Be Good for Investors

The crypto market crashed in June 2022. Bitcoin and other cryptocurrencies hit their lowest prices in over a year, causing market panic. Some believe this crash will benefit future investors.

Before I discuss how this crash might help investors, let's examine why it happened. Inflation in the U.S. reached a 30-year high in 2022 after Russia invaded Ukraine. In response, the U.S. Federal Reserve raised interest rates by 0.5%, the most in almost 20 years. This hurts cryptocurrencies like Bitcoin. Higher interest rates make people less likely to invest in volatile assets like crypto, so many investors sold quickly.

The crypto market collapsed. Bitcoin, Ethereum, and Binance dropped 40%. Other cryptos crashed so hard they were delisted from almost every exchange. Bitcoin peaked in April 2022 at $41,000, but after the May interest rate hike, it crashed to $28,000. Bitcoin investors were worried. Even in bad times, this crash is unprecedented.

Bitcoin wasn't "doomed." Before the crash, LUNA was one of the top 5 cryptos by market cap. LUNA was trading around $80 at the start of May 2022, but after the rate hike?

Less than 1 cent. LUNA lost 99.99% of its value in days and was removed from every crypto exchange. Bitcoin's "crash" isn't as devastating when compared to LUNA.

Many people said Bitcoin is "due" for a LUNA-like crash and that the only reason it hasn't crashed is because it's bigger. Still false. If so, Bitcoin should be worth zero by now. We didn't. Instead, Bitcoin reached 28,000, then 29k, 30k, and 31k before falling to 18k. That's not the world's greatest recovery, but it shows Bitcoin's safety.

Bitcoin isn't falling constantly. It fell because of the initial shock of interest rates, but not further. Now, Bitcoin's value is more likely to rise than fall. Bitcoin's low price also attracts investors. They know what prices Bitcoin can reach with enough hype, and they want to capitalize on low prices before it's too late.

Bitcoin's crash was bad, but in a way it wasn't. To understand, consider 2021. In March 2021, Bitcoin surpassed $60k for the first time. Elon Musk's announcement in May that he would no longer support Bitcoin caused a massive crash in the crypto market. In May 2017, Bitcoin's price hit $29,000. Elon Musk's statement isn't worth more than the Fed raising rates. Many expected this big announcement to kill Bitcoin.

Not so. Bitcoin crashed from $58k to $31k in 2021. Bitcoin fell from $41k to $28k in 2022. This crash is smaller. Bitcoin's price held up despite tensions and stress, proving investors still believe in it. What happened after the initial crash in the past?

Bitcoin fell until mid-July. This is also something we’re not seeing today. After a week, Bitcoin began to improve daily. Bitcoin's price rose after mid-July. Bitcoin's price fluctuated throughout the rest of 2021, but it topped $67k in November. Despite no major changes, the peak occurred after the crash. Elon Musk seemed uninterested in crypto and wasn't likely to change his mind soon. What triggered this peak? Nothing, really. What really happened is that people got over the initial statement. They forgot.

Internet users have goldfish-like attention spans. People quickly forgot the crash's cause and were back investing in crypto months later. Despite the market's setbacks, more crypto investors emerged by the end of 2017. Who gained from these peaks? Bitcoin investors who bought low. Bitcoin not only recovered but also doubled its ROI. It was like a movie, and it shows us what to expect from Bitcoin in the coming months.

The current Bitcoin crash isn't as bad as the last one. LUNA is causing market panic. LUNA and Bitcoin are different cryptocurrencies. LUNA crashed because Terra wasn’t able to keep its peg with the USD. Bitcoin is unanchored. It's one of the most decentralized investments available. LUNA's distrust affected crypto prices, including Bitcoin, but it won't last forever.

This is why Bitcoin will likely rebound in the coming months. In 2022, people will get over the rise in interest rates and the crash of LUNA, just as they did with Elon Musk's crypto stance in 2021. When the world moves on to the next big controversy, Bitcoin's price will soar.

Bitcoin may recover for another reason. Like controversy, interest rates fluctuate. The Russian invasion caused this inflation. World markets will stabilize, prices will fall, and interest rates will drop.

Next, lower interest rates could boost Bitcoin's price. Eventually, it will happen. The U.S. economy can't sustain such high interest rates. Investors will put every last dollar into Bitcoin if interest rates fall again.

Bitcoin has proven to be a stable investment. This boosts its investment reputation. Even if Ethereum dethrones Bitcoin as crypto king one day (or any other crypto, for that matter). Bitcoin may stay on top of the crypto ladder for a while. We'll have to wait a few months to see if any of this is true.


This post is a summary. Read the full article here.

Jayden Levitt

Jayden Levitt

3 years ago

The country of El Salvador's Bitcoin-obsessed president lost $61.6 million.

It’s only a loss if you sell, right?

Created by Author — Using Toonme

Nayib Bukele proclaimed himself “the world’s coolest dictator”.

His jokes aren't clear.

El Salvador's 43rd president self-proclaimed “CEO of El Salvador” couldn't be less presidential.

His thin jeans, aviator sunglasses, and baseball caps like a cartel lord.

He's popular, though.

Bukele won 53% of the vote by fighting violent crime and opposition party corruption.

El Salvador's 6.4 million inhabitants are riding the cryptocurrency volatility wave.

They were powerless.

Their autocratic leader, a former Yamaha Motors salesperson and Bitcoin believer, wants to help 70% unbanked locals.

He intended to give the citizens a way to save money and cut the country's $200 million remittance cost.

Transfer and deposit costs.

This makes logical sense when the president’s theatrics don’t blind you.

El Salvador's Bukele revealed plans to make bitcoin legal tender.

Remittances total $5.9 billion (23%) of the country's expenses.

Anything that reduces costs could boost the economy.

The country’s unbanked population is staggering. Here’s the data by % of people who either have a bank account (Blue) or a mobile money account (Black).

Source — statista.com

According to Bukele, 46% of the population has downloaded the Chivo Bitcoin Wallet.

In 2021, 36% of El Salvadorans had bank accounts.


Large rural countries like Kenya seem to have resolved their unbanked dilemma.

An economy surfaced where village locals would sell, trade and store network minutes and data as a store of value.

Kenyan phone networks realized unbanked people needed a safe way to accumulate wealth and have an emergency fund.

96% of Kenyans utilize M-PESA, which doesn't require a bank account.

The software involves human agents who hang out with cash and a phone.

These people are like ATMs.

You offer them cash to deposit money in your mobile money account or withdraw cash.

In a country with a faulty banking system, cash availability and a safe place to deposit it are important.

William Jack and Tavneet Suri found that M-PESA brought 194,000 Kenyan households out of poverty by making transactions cheaper and creating a safe store of value.

2016 Science paper

Mobile money, a service that allows monetary value to be stored on a mobile phone and sent to other users via text messages, has been adopted by most Kenyan households. We estimate that access to the Kenyan mobile money system M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty.

The impacts, which are more pronounced for female-headed households, appear to be driven by changes in financial behaviour — in particular, increased financial resilience and saving. Mobile money has therefore increased the efficiency of the allocation of consumption over time while allowing a more efficient allocation of labour, resulting in a meaningful reduction of poverty in Kenya.


Currently, El Salvador has 2,301 Bitcoin.

At publication, it's worth $44 million. That remains 41% of Bukele's original $105.6 million.

Unknown if the country has sold Bitcoin, but Bukeles keeps purchasing the dip.

It's still falling.

Source — Nayib Bukele — Twitter

This might be a fantastic move for the impoverished country over the next five years, if they can live economically till Bitcoin's price recovers.

The evidence demonstrates that a store of value pulls individuals out of poverty, but others say Bitcoin is premature.

You may regard it as an aggressive endeavor to front run the next wave of adoption, offering El Salvador a financial upside.

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Protos

Protos

3 years ago

Plagiarism on OpenSea: humans and computers

OpenSea, a non-fungible token (NFT) marketplace, is fighting plagiarism. A new “two-pronged” approach will aim to root out and remove copies of authentic NFTs and changes to its blue tick verified badge system will seek to enhance customer confidence.

According to a blog post, the anti-plagiarism system will use algorithmic detection of “copymints” with human reviewers to keep it in check.

Last year, NFT collectors were duped into buying flipped images of the popular BAYC collection, according to The Verge. The largest NFT marketplace had to remove its delay pay minting service due to an influx of copymints.

80% of NFTs removed by the platform were minted using its lazy minting service, which kept the digital asset off-chain until the first purchase.

NFTs copied from popular collections are opportunistic money-grabs. Right-click, save, and mint the jacked JPEGs that are then flogged as an authentic NFT.

The anti-plagiarism system will scour OpenSea's collections for flipped and rotated images, as well as other undescribed permutations. The lack of detail here may be a deterrent to scammers, or it may reflect the new system's current rudimentary nature.

Thus, human detectors will be needed to verify images flagged by the detection system and help train it to work independently.

“Our long-term goal with this system is two-fold: first, to eliminate all existing copymints on OpenSea, and second, to help prevent new copymints from appearing,” it said.

“We've already started delisting identified copymint collections, and we'll continue to do so over the coming weeks.”

It works for Twitter, why not OpenSea

OpenSea is also changing account verification. Early adopters will be invited to apply for verification if their NFT stack is worth $100 or more. OpenSea plans to give the blue checkmark to people who are active on Twitter and Discord.

This is just the beginning. We are committed to a future where authentic creators can be verified, keeping scammers out.

Also, collections with a lot of hype and sales will get a blue checkmark. For example, a new NFT collection sold by the verified BAYC account will have a blue badge to verify its legitimacy.

New requests will be responded to within seven days, according to OpenSea.

These programs and products help protect creators and collectors while ensuring our community can confidently navigate the world of NFTs.

By elevating authentic content and removing plagiarism, these changes improve trust in the NFT ecosystem, according to OpenSea.

OpenSea is indeed catching up with the digital art economy. Last August, DevianArt upgraded its AI image recognition system to find stolen tokenized art on marketplaces like OpenSea.

It scans all uploaded art and compares it to “public blockchain events” like Ethereum NFTs to detect stolen art.

Samer Buna

Samer Buna

2 years ago

The Errors I Committed As a Novice Programmer

Learn to identify them, make habits to avoid them

First, a clarification. This article is aimed to make new programmers aware of their mistakes, train them to detect them, and remind them to prevent them.

I learned from all these blunders. I'm glad I have coding habits to avoid them. Do too.

These mistakes are not ordered.

1) Writing code haphazardly

Writing good content is hard. It takes planning and investigation. Quality programs don't differ.

Think. Research. Plan. Write. Validate. Modify. Unfortunately, no good acronym exists. Create a habit of doing the proper quantity of these activities.

As a newbie programmer, my biggest error was writing code without thinking or researching. This works for small stand-alone apps but hurts larger ones.

Like saying anything you might regret, you should think before coding something you could regret. Coding expresses your thoughts.

When angry, count to 10 before you speak. If very angry, a hundred. — Thomas Jefferson.

My quote:

When reviewing code, count to 10 before you refactor a line. If the code does not have tests, a hundred. — Samer Buna

Programming is primarily about reviewing prior code, investigating what is needed and how it fits into the current system, and developing small, testable features. Only 10% of the process involves writing code.

Programming is not writing code. Programming need nurturing.

2) Making excessive plans prior to writing code

Yes. Planning before writing code is good, but too much of it is bad. Water poisons.

Avoid perfect plans. Programming does not have that. Find a good starting plan. Your plan will change, but it helped you structure your code for clarity. Overplanning wastes time.

Only planning small features. All-feature planning should be illegal! The Waterfall Approach is a step-by-step system. That strategy requires extensive planning. This is not planning. Most software projects fail with waterfall. Implementing anything sophisticated requires agile changes to reality.

Programming requires responsiveness. You'll add waterfall plan-unthinkable features. You will eliminate functionality for reasons you never considered in a waterfall plan. Fix bugs and adjust. Be agile.

Plan your future features, though. Do it cautiously since too little or too much planning can affect code quality, which you must risk.

3) Underestimating the Value of Good Code

Readability should be your code's exclusive goal. Unintelligible code stinks. Non-recyclable.

Never undervalue code quality. Coding communicates implementations. Coders must explicitly communicate solution implementations.

Programming quote I like:

Always code as if the guy who ends up maintaining your code will be a violent psychopath who knows where you live. — John Woods

John, great advice!

Small things matter. If your indentation and capitalization are inconsistent, you should lose your coding license.

Long queues are also simple. Readability decreases after 80 characters. To highlight an if-statement block, you might put a long condition on the same line. No. Just never exceed 80 characters.

Linting and formatting tools fix many basic issues like this. ESLint and Prettier work great together in JavaScript. Use them.

Code quality errors:

Multiple lines in a function or file. Break long code into manageable bits. My rule of thumb is that any function with more than 10 lines is excessively long.

Double-negatives. Don't.

Using double negatives is just very not not wrong

Short, generic, or type-based variable names. Name variables clearly.

There are only two hard things in Computer Science: cache invalidation and naming things. — Phil Karlton

Hard-coding primitive strings and numbers without descriptions. If your logic relies on a constant primitive string or numeric value, identify it.

Avoiding simple difficulties with sloppy shortcuts and workarounds. Avoid evasion. Take stock.

Considering lengthier code better. Shorter code is usually preferable. Only write lengthier versions if they improve code readability. For instance, don't utilize clever one-liners and nested ternary statements just to make the code shorter. In any application, removing unneeded code is better.

Measuring programming progress by lines of code is like measuring aircraft building progress by weight. — Bill Gates

Excessive conditional logic. Conditional logic is unnecessary for most tasks. Choose based on readability. Measure performance before optimizing. Avoid Yoda conditions and conditional assignments.

4) Selecting the First Approach

When I started programming, I would solve an issue and move on. I would apply my initial solution without considering its intricacies and probable shortcomings.

After questioning all the solutions, the best ones usually emerge. If you can't think of several answers, you don't grasp the problem.

Programmers do not solve problems. Find the easiest solution. The solution must work well and be easy to read, comprehend, and maintain.

There are two ways of constructing a software design. One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies. — C.A.R. Hoare

5) Not Giving Up

I generally stick with the original solution even though it may not be the best. The not-quitting mentality may explain this. This mindset is helpful for most things, but not programming. Program writers should fail early and often.

If you doubt a solution, toss it and rethink the situation. No matter how much you put in that solution. GIT lets you branch off and try various solutions. Use it.

Do not be attached to code because of how much effort you put into it. Bad code needs to be discarded.

6) Avoiding Google

I've wasted time solving problems when I should have researched them first.

Unless you're employing cutting-edge technology, someone else has probably solved your problem. Google It First.

Googling may discover that what you think is an issue isn't and that you should embrace it. Do not presume you know everything needed to choose a solution. Google surprises.

But Google carefully. Newbies also copy code without knowing it. Use only code you understand, even if it solves your problem.

Never assume you know how to code creatively.

The most dangerous thought that you can have as a creative person is to think that you know what you’re doing. — Bret Victor

7) Failing to Use Encapsulation

Not about object-oriented paradigm. Encapsulation is always useful. Unencapsulated systems are difficult to maintain.

An application should only handle a feature once. One object handles that. The application's other objects should only see what's essential. Reducing application dependencies is not about secrecy. Following these guidelines lets you safely update class, object, and function internals without breaking things.

Classify logic and state concepts. Class means blueprint template. Class or Function objects are possible. It could be a Module or Package.

Self-contained tasks need methods in a logic class. Methods should accomplish one thing well. Similar classes should share method names.

As a rookie programmer, I didn't always establish a new class for a conceptual unit or recognize self-contained units. Newbie code has a Util class full of unrelated code. Another symptom of novice code is when a small change cascades and requires numerous other adjustments.

Think before adding a method or new responsibilities to a method. Time's needed. Avoid skipping or refactoring. Start right.

High Cohesion and Low Coupling involves grouping relevant code in a class and reducing class dependencies.

8) Arranging for Uncertainty

Thinking beyond your solution is appealing. Every line of code will bring up what-ifs. This is excellent for edge cases but not for foreseeable needs.

Your what-ifs must fall into one of these two categories. Write only code you need today. Avoid future planning.

Writing a feature for future use is improper. No.

Write only the code you need today for your solution. Handle edge-cases, but don't introduce edge-features.

Growth for the sake of growth is the ideology of the cancer cell. — Edward Abbey

9) Making the incorrect data structure choices

Beginner programmers often overemphasize algorithms when preparing for interviews. Good algorithms should be identified and used when needed, but memorizing them won't make you a programming genius.

However, learning your language's data structures' strengths and shortcomings will make you a better developer.

The improper data structure shouts "newbie coding" here.

Let me give you a few instances of data structures without teaching you:

Managing records with arrays instead of maps (objects).

Most data structure mistakes include using lists instead of maps to manage records. Use a map to organize a list of records.

This list of records has an identifier to look up each entry. Lists for scalar values are OK and frequently superior, especially if the focus is pushing values to the list.

Arrays and objects are the most common JavaScript list and map structures, respectively (there is also a map structure in modern JavaScript).

Lists over maps for record management often fail. I recommend always using this point, even though it only applies to huge collections. This is crucial because maps are faster than lists in looking up records by identifier.

Stackless

Simple recursive functions are often tempting when writing recursive programming. In single-threaded settings, optimizing recursive code is difficult.

Recursive function returns determine code optimization. Optimizing a recursive function that returns two or more calls to itself is harder than optimizing a single call.

Beginners overlook the alternative to recursive functions. Use Stack. Push function calls to a stack and start popping them out to traverse them back.

10) Worsening the current code

Imagine this:

Add an item to that room. You might want to store that object anywhere as it's a mess. You can finish in seconds.

Not with messy code. Do not worsen! Keep the code cleaner than when you started.

Clean the room above to place the new object. If the item is clothing, clear a route to the closet. That's proper execution.

The following bad habits frequently make code worse:

  • code duplication You are merely duplicating code and creating more chaos if you copy/paste a code block and then alter just the line after that. This would be equivalent to adding another chair with a lower base rather than purchasing a new chair with a height-adjustable seat in the context of the aforementioned dirty room example. Always keep abstraction in mind, and use it when appropriate.

  • utilizing configuration files not at all. A configuration file should contain the value you need to utilize if it may differ in certain circumstances or at different times. A configuration file should contain a value if you need to use it across numerous lines of code. Every time you add a new value to the code, simply ask yourself: "Does this value belong in a configuration file?" The most likely response is "yes."

  • using temporary variables and pointless conditional statements. Every if-statement represents a logic branch that should at the very least be tested twice. When avoiding conditionals doesn't compromise readability, it should be done. The main issue with this is that branch logic is being used to extend an existing function rather than creating a new function. Are you altering the code at the appropriate level, or should you go think about the issue at a higher level every time you feel you need an if-statement or a new function variable?

This code illustrates superfluous if-statements:

function isOdd(number) {
  if (number % 2 === 1) {
    return true;
  } else {
    return false;
  }
}

Can you spot the biggest issue with the isOdd function above?

Unnecessary if-statement. Similar code:

function isOdd(number) {
  return (number % 2 === 1);
};

11) Making remarks on things that are obvious

I've learnt to avoid comments. Most code comments can be renamed.

instead of:

// This function sums only odd numbers in an array
const sum = (val) => {
  return val.reduce((a, b) => {
    if (b % 2 === 1) { // If the current number is odd
      a+=b;            // Add current number to accumulator
    }
    return a;          // The accumulator
  }, 0);
};

Commentless code looks like this:

const sumOddValues = (array) => {
  return array.reduce((accumulator, currentNumber) => {
    if (isOdd(currentNumber)) { 
      return accumulator + currentNumber;
    }
    return accumulator;
  }, 0);
};

Better function and argument names eliminate most comments. Remember that before commenting.

Sometimes you have to use comments to clarify the code. This is when your comments should answer WHY this code rather than WHAT it does.

Do not write a WHAT remark to clarify the code. Here are some unnecessary comments that clutter code:

// create a variable and initialize it to 0
let sum = 0;
// Loop over array
array.forEach(
  // For each number in the array
  (number) => {
    // Add the current number to the sum variable
    sum += number;
  }
);

Avoid that programmer. Reject that code. Remove such comments if necessary. Most importantly, teach programmers how awful these remarks are. Tell programmers who publish remarks like this that they may lose their jobs. That terrible.

12) Skipping tests

I'll simplify. If you develop code without tests because you think you're an excellent programmer, you're a rookie.

If you're not writing tests in code, you're probably testing manually. Every few lines of code in a web application will be refreshed and interacted with. Also. Manual code testing is fine. To learn how to automatically test your code, manually test it. After testing your application, return to your code editor and write code to automatically perform the same interaction the next time you add code.

Human. After each code update, you will forget to test all successful validations. Automate it!

Before writing code to fulfill validations, guess or design them. TDD is real. It improves your feature design thinking.

If you can use TDD, even partially, do so.

13) Making the assumption that if something is working, it must be right.

See this sumOddValues function. Is it flawed?

const sumOddValues = (array) => {
  return array.reduce((accumulator, currentNumber) => {
    if (currentNumber % 2 === 1) { 
      return accumulator + currentNumber;
    }
    return accumulator;
  });
};
 
 
console.assert(
  sumOddValues([1, 2, 3, 4, 5]) === 9
);

Verified. Good life. Correct?

Code above is incomplete. It handles some scenarios correctly, including the assumption used, but it has many other issues. I'll list some:

#1: No empty input handling. What happens when the function is called without arguments? That results in an error revealing the function's implementation:

TypeError: Cannot read property 'reduce' of undefined.

Two main factors indicate faulty code.

  • Your function's users shouldn't come across implementation-related information.

  • The user cannot benefit from the error. Simply said, they were unable to use your function. They would be aware that they misused the function if the error was more obvious about the usage issue. You might decide to make the function throw a custom exception, for instance:

TypeError: Cannot execute function for empty list.

Instead of returning an error, your method should disregard empty input and return a sum of 0. This case requires action.

Problem #2: No input validation. What happens if the function is invoked with a text, integer, or object instead of an array?

The function now throws:

sumOddValues(42);
TypeError: array.reduce is not a function

Unfortunately, array. cut's a function!

The function labels anything you call it with (42 in the example above) as array because we named the argument array. The error says 42.reduce is not a function.

See how that error confuses? An mistake like:

TypeError: 42 is not an array, dude.

Edge-cases are #1 and #2. These edge-cases are typical, but you should also consider less obvious ones. Negative numbers—what happens?

sumOddValues([1, 2, 3, 4, 5, -13]) // => still 9

-13's unusual. Is this the desired function behavior? Error? Should it sum negative numbers? Should it keep ignoring negative numbers? You may notice the function should have been titled sumPositiveOddNumbers.

This decision is simple. The more essential point is that if you don't write a test case to document your decision, future function maintainers won't know if you ignored negative values intentionally or accidentally.

It’s not a bug. It’s a feature. — Someone who forgot a test case

#3: Valid cases are not tested. Forget edge-cases, this function mishandles a straightforward case:

sumOddValues([2, 1, 3, 4, 5]) // => 11

The 2 above was wrongly included in sum.

The solution is simple: reduce accepts a second input to initialize the accumulator. Reduce will use the first value in the collection as the accumulator if that argument is not provided, like in the code above. The sum included the test case's first even value.

This test case should have been included in the tests along with many others, such as all-even numbers, a list with 0 in it, and an empty list.

Newbie code also has rudimentary tests that disregard edge-cases.

14) Adhering to Current Law

Unless you're a lone supercoder, you'll encounter stupid code. Beginners don't identify it and assume it's decent code because it works and has been in the codebase for a while.

Worse, if the terrible code uses bad practices, the newbie may be enticed to use them elsewhere in the codebase since they learnt them from good code.

A unique condition may have pushed the developer to write faulty code. This is a nice spot for a thorough note that informs newbies about that condition and why the code is written that way.

Beginners should presume that undocumented code they don't understand is bad. Ask. Enquire. Blame it!

If the code's author is dead or can't remember it, research and understand it. Only after understanding the code can you judge its quality. Before that, presume nothing.

15) Being fixated on best practices

Best practices damage. It suggests no further research. Best practice ever. No doubts!

No best practices. Today's programming language may have good practices.

Programming best practices are now considered bad practices.

Time will reveal better methods. Focus on your strengths, not best practices.

Do not do anything because you read a quote, saw someone else do it, or heard it is a recommended practice. This contains all my article advice! Ask questions, challenge theories, know your options, and make informed decisions.

16) Being preoccupied with performance

Premature optimization is the root of all evil (or at least most of it) in programming — Donald Knuth (1974)

I think Donald Knuth's advice is still relevant today, even though programming has changed.

Do not optimize code if you cannot measure the suspected performance problem.

Optimizing before code execution is likely premature. You may possibly be wasting time optimizing.

There are obvious optimizations to consider when writing new code. You must not flood the event loop or block the call stack in Node.js. Remember this early optimization. Will this code block the call stack?

Avoid non-obvious code optimization without measurements. If done, your performance boost may cause new issues.

Stop optimizing unmeasured performance issues.

17) Missing the End-User Experience as a Goal

How can an app add a feature easily? Look at it from your perspective or in the existing User Interface. Right? Add it to the form if the feature captures user input. Add it to your nested menu of links if it adds a link to a page.

Avoid that developer. Be a professional who empathizes with customers. They imagine this feature's consumers' needs and behavior. They focus on making the feature easy to find and use, not just adding it to the software.

18) Choosing the incorrect tool for the task

Every programmer has their preferred tools. Most tools are good for one thing and bad for others.

The worst tool for screwing in a screw is a hammer. Do not use your favorite hammer on a screw. Don't use Amazon's most popular hammer on a screw.

A true beginner relies on tool popularity rather than problem fit.

You may not know the best tools for a project. You may know the best tool. However, it wouldn't rank high. You must learn your tools and be open to new ones.

Some coders shun new tools. They like their tools and don't want to learn new ones. I can relate, but it's wrong.

You can build a house slowly with basic tools or rapidly with superior tools. You must learn and use new tools.

19) Failing to recognize that data issues are caused by code issues

Programs commonly manage data. The software will add, delete, and change records.

Even the simplest programming errors can make data unpredictable. Especially if the same defective application validates all data.

Code-data relationships may be confusing for beginners. They may employ broken code in production since feature X is not critical. Buggy coding may cause hidden data integrity issues.

Worse, deploying code that corrected flaws without fixing minor data problems caused by these defects will only collect more data problems that take the situation into the unrecoverable-level category.

How do you avoid these issues? Simply employ numerous data integrity validation levels. Use several interfaces. Front-end, back-end, network, and database validations. If not, apply database constraints.

Use all database constraints when adding columns and tables:

  • If a column has a NOT NULL constraint, null values will be rejected for that column. If your application expects that field has a value, your database should designate its source as not null.

  • If a column has a UNIQUE constraint, the entire table cannot include duplicate values for that column. This is ideal for a username or email field on a Users table, for instance.

  • For the data to be accepted, a CHECK constraint, or custom expression, must evaluate to true. For instance, you can apply a check constraint to ensure that the values of a normal % column must fall within the range of 0 and 100.

  • With a PRIMARY KEY constraint, the values of the columns must be both distinct and not null. This one is presumably what you're utilizing. To distinguish the records in each table, the database needs have a primary key.

  • A FOREIGN KEY constraint requires that the values in one database column, typically a primary key, match those in another table column.

Transaction apathy is another data integrity issue for newbies. If numerous actions affect the same data source and depend on each other, they must be wrapped in a transaction that can be rolled back if one fails.

20) Reinventing the Wheel

Tricky. Some programming wheels need reinvention. Programming is undefined. New requirements and changes happen faster than any team can handle.

Instead of modifying the wheel we all adore, maybe we should rethink it if you need a wheel that spins at varied speeds depending on the time of day. If you don't require a non-standard wheel, don't reinvent it. Use the darn wheel.

Wheel brands can be hard to choose from. Research and test before buying! Most software wheels are free and transparent. Internal design quality lets you evaluate coding wheels. Try open-source wheels. Debug and fix open-source software simply. They're easily replaceable. In-house support is also easy.

If you need a wheel, don't buy a new automobile and put your maintained car on top. Do not include a library to use a few functions. Lodash in JavaScript is the finest example. Import shuffle to shuffle an array. Don't import lodash.

21) Adopting the incorrect perspective on code reviews

Beginners often see code reviews as criticism. Dislike them. Not appreciated. Even fear them.

Incorrect. If so, modify your mindset immediately. Learn from every code review. Salute them. Observe. Most crucial, thank reviewers who teach you.

Always learning code. Accept it. Most code reviews teach something new. Use these for learning.

You may need to correct the reviewer. If your code didn't make that evident, it may need to be changed. If you must teach your reviewer, remember that teaching is one of the most enjoyable things a programmer can do.

22) Not Using Source Control

Newbies often underestimate Git's capabilities.

Source control is more than sharing your modifications. It's much bigger. Clear history is source control. The history of coding will assist address complex problems. Commit messages matter. They are another way to communicate your implementations, and utilizing them with modest commits helps future maintainers understand how the code got where it is.

Commit early and often with present-tense verbs. Summarize your messages but be detailed. If you need more than a few lines, your commit is too long. Rebase!

Avoid needless commit messages. Commit summaries should not list new, changed, or deleted files. Git commands can display that list from the commit object. The summary message would be noise. I think a big commit has many summaries per file altered.

Source control involves discoverability. You can discover the commit that introduced a function and see its context if you doubt its need or design. Commits can even pinpoint which code caused a bug. Git has a binary search within commits (bisect) to find the bug-causing commit.

Source control can be used before commits to great effect. Staging changes, patching selectively, resetting, stashing, editing, applying, diffing, reversing, and others enrich your coding flow. Know, use, and enjoy them.

I consider a Git rookie someone who knows less functionalities.

23) Excessive Use of Shared State

Again, this is not about functional programming vs. other paradigms. That's another article.

Shared state is problematic and should be avoided if feasible. If not, use shared state as little as possible.

As a new programmer, I didn't know that all variables represent shared states. All variables in the same scope can change its data. Global scope reduces shared state span. Keep new states in limited scopes and avoid upward leakage.

When numerous resources modify common state in the same event loop tick, the situation becomes severe (in event-loop-based environments). Races happen.

This shared state race condition problem may encourage a rookie to utilize a timer, especially if they have a data lock issue. Red flag. No. Never accept it.

24) Adopting the Wrong Mentality Toward Errors

Errors are good. Progress. They indicate a simple way to improve.

Expert programmers enjoy errors. Newbies detest them.

If these lovely red error warnings irritate you, modify your mindset. Consider them helpers. Handle them. Use them to advance.

Some errors need exceptions. Plan for user-defined exceptions. Ignore some mistakes. Crash and exit the app.

25) Ignoring rest periods

Humans require mental breaks. Take breaks. In the zone, you'll forget breaks. Another symptom of beginners. No compromises. Make breaks mandatory in your process. Take frequent pauses. Take a little walk to plan your next move. Reread the code.

This has been a long post. You deserve a break.

KonstantinDr

KonstantinDr

3 years ago

Early Adopters And the Fifth Reason WHY

Product management wizardry.

Product management

Early adopters buy a product even if it hasn't hit the market or has flaws.

Who are the early adopters?

Early adopters try a new technology or product first. Early adopters are interested in trying or buying new technologies and products before others. They're risk-tolerant and can provide initial cash flow and product reviews. They help a company's new product or technology gain social proof.

Early adopters are most common in the technology industry, but they're in every industry. They don't follow the crowd. They seek innovation and report product flaws before mass production. If the product works well, the first users become loyal customers, and colleagues value their opinion.

What to do with early adopters?

They can be used to collect feedback and initial product promotion, first sales, and product value validation.

How to find early followers?

Start with your immediate environment and target audience. Communicate with them to see if they're interested in your value proposition.

1) Innovators (2.5% of the population) are risk-takers seeking novelty. These people are the first to buy new and trendy items and drive social innovation. However, these people are usually elite;

Early adopters (13.5%) are inclined to accept innovations but are more cautious than innovators; they start using novelties when innovators or famous people do;

3) The early majority (34%) is conservative; they start using new products when many people have mastered them. When the early majority accepted the innovation, it became ingrained in people's minds.

4) Attracting 34% of the population later means the novelty has become a mass-market product. Innovators are using newer products;

5) Laggards (16%) are the most conservative, usually elderly people who use the same products.

Stages of new information acceptance

1. The information is strange and rejected by most. Accepted only by innovators;

2. When early adopters join, more people believe it's not so bad; when a critical mass is reached, the novelty becomes fashionable and most people use it.

3. Fascination with a novelty peaks, then declines; the majority and laggards start using it later; novelty becomes obsolete; innovators master something new.

Problems with early implementation

Early adopter sales have disadvantages.

Higher risk of defects

Selling to first-time users increases the risk of defects. Early adopters are often influential, so this can affect the brand's and its products' long-term perception.

Not what was expected

First-time buyers may be disappointed by the product. Marketing messages can mislead consumers, and if the first users believe the company misrepresented the product, this will affect future sales.

Compatibility issues

Some technological advances cause compatibility issues. Consumers may be disappointed if new technology is incompatible with their electronics.

Method 5 WHY

Let's talk about 5 why, a good tool for finding project problems' root causes. This method is also known as the five why rule, method, or questions.

The 5 why technique came from Toyota's lean manufacturing and helps quickly determine a problem's root cause.

On one, two, and three, you simply do this:

  1. We identify and frame the issue for which a solution is sought.

  2. We frequently ponder this question. The first 2-3 responses are frequently very dull, making you want to give up on this pointless exercise. However, after that, things get interesting. And occasionally it's so fascinating that you question whether you really needed to know.

  3. We consider the final response, ponder it, and choose a course of action.

Always do the 5 whys with the customer or team to have a reasonable discussion and better understand what's happening.

And the “five whys” is a wonderful and simplest tool for introspection. With the accumulated practice, it is used almost automatically in any situation like “I can’t force myself to work, the mood is bad in the morning” or “why did I decide that I have no life without this food processor for 20,000 rubles, which will take half of my rather big kitchen.”

An illustration of the five whys

A simple, but real example from my work practice that I think is very indicative, given the participants' low IT skills.  Anonymized, of course.

Users spend too long looking for tender documents.

Why? Because they must search through many company tender documents.

Why? Because the system can't filter department-specific bids.

Why? Because our contract management system requirements didn't include a department-tender link. That's it, right? We'll add a filter and be happy. but still…

why? Because we based the system's requirements on regulations for working with paper tender documents (when they still had envelopes and autopsies), not electronic ones, and there was no search mechanism.

Why? We didn't consider how our work would change when switching from paper to electronic tenders when drafting the requirements.

Now I know what to do in the future. We add a filter, enter department data, and teach users to use it. This is tactical, but strategically we review the same forgotten requirements to make all the necessary changes in a package, plus we include it in the checklist for the acceptance of final requirements for the future.

Errors when using 5 why

Five whys seems simple, but it can be misused.

Popular ones:

  1. The accusation of everyone and everything is then introduced. After all, the 5 why method focuses on identifying the underlying causes rather than criticizing others. As a result, at the third step, it is not a good idea to conclude that the system is ineffective because users are stupid and that we can therefore do nothing about it.

  2. to fight with all my might so that the outcome would be exactly 5 reasons, neither more nor less. 5 questions is a typical number (it sounds nice, yes), but there could be 3 or 7 in actuality.

  3. Do not capture in-between responses. It is difficult to overestimate the power of the written or printed word, so the result is so-so when the focus is lost. That's it, I suppose. Simple, quick, and brilliant, like other project management tools.

Conclusion

Today we analyzed important study elements:

Early adopters and 5 WHY We've analyzed cases and live examples of how these methods help with product research and growth point identification. Next, consider the HADI cycle.

Thank you for your attention ❤️