An Analysis on Bytecoin Mining: Is it Still Profitable?

So I calculated the future of bitcoins anonymity....

Lets theorize that in the future we will have an advanced civilization of 100 trillion people. But in order for these people to retain their financial anonymity they must create 100 trillion new addresses every day. How many years would it take to before all possible bitcoin addresses have been used up?
http://imgur.com/ZkPIoVZ
submitted by Solosides to Bitcoin [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

A puzzle to celebrate the Halving! Solve it to win the ~0.03 BTC inside.

A puzzle to celebrate the Halving! Solve it to win the ~0.03 BTC inside.
(EDIT now worth ~0.05 (Thanks anon!))
Hello fellow Bitcoiners!
I have hidden the seed to a wallet containing ~0.03 (+ 0.02) BTC inside of my latest album. (It's not much, I am a robot of simple means)
Solve it then sweep the keys!


'Bifurcations' by Logic Beach is a Lo-Fi, Synth-Glitch, experimental project I've put together to celebrate the halving and to have a bit of fun. You will need the Lossless versions of the songs to solve this thing. (download the .wav files).
https://preview.redd.it/fvtegar2xdy41.png?width=2486&format=png&auto=webp&s=f02aef55825dccb854c4826dd00aa5a17d70c60e
Also, check out the Video.
The album is free on BandCamp (just enter $0.00), however if you'd like to make the contest more interesting, I am putting all proceeds into the contest wallet.
If you sweep it make a post here detailing how you solved it! or remain anonymous... I'll post the solution when it's solved.
Adress: bc1qj7467e7r5pdfpypm03wyvguupdrld0ul2gcutg


After due consideration (and constant requests), I have decided to extend this contest until June 21st.

Here is a recap of what is known with some new info:
  • The video has only two words for you. The first is 'Tree' from track 8 and another from track 9. the rest of the video is IRRELEVANT as is the album cover. it was just fun for me to make and watch along with the music, sorry if it ruined your life.
  • You are searching for 12 seed words in the bip39 format. No need to calculate any words.
  • There is an order hidden here. It is not in the lengths of songs or hidden in the rhythms of songs. "hidden" is hardly the right word for how it's placed in this album.
  • Three track names may help you in your search: songs 2,4, and 5
  • Chaos and Logistic maps or any kind of advanced mathematics will not aid you. This is 'Simple'
  • c = 300,000 km/s
  • In track three you may have to make a '-leap' of sorts
  • Morse code will only help you in tracks 1 & 2 visually and audibly
  • There are two words each in tracks 5, 6, and 7.
Alright, final hints here:
*The word in song two is BOMB. It is spelled in Morse by the drums as they pick back up. *The order is also 'hidden' in song 2 *it may be worth looking above and below the speed of light;)
Contest ends tomorrow at 17:00gmt
I'll include some last hints because nobody had found these words.
*Nothing to see in the spectra, nothing to hear in the song. It hexes me to give this one away! Hexadecimal. Bytes. It's there in the data, just make sure you view the data in the right orientation.
*Spectragraphic eyes: You see the two signals in the lowest part of the spectra here? Almost sounds like thunder!
That's it! Some one solved it! 18 confirmations at time of this edit. Well, I will post the solution if you guys are interested.
Nobody reached out to me so I take it they want to stay anonymous.
submitted by logic_beach to Bitcoin [link] [comments]

Scaling Reddit Community Points with Arbitrum Rollup: a piece of cake

Scaling Reddit Community Points with Arbitrum Rollup: a piece of cake
https://preview.redd.it/b80c05tnb9e51.jpg?width=2550&format=pjpg&auto=webp&s=850282c1a3962466ed44f73886dae1c8872d0f31
Submitted for consideration to The Great Reddit Scaling Bake-Off
Baked by the pastry chefs at Offchain Labs
Please send questions or comments to [[email protected] ](mailto:[email protected])
1. Overview
We're excited to submit Arbitrum Rollup for consideration to The Great Reddit Scaling Bake-Off. Arbitrum Rollup is the only Ethereum scaling solution that supports arbitrary smart contracts without compromising on Ethereum's security or adding points of centralization. For Reddit, this means that Arbitrum can not only scale the minting and transfer of Community Points, but it can foster a creative ecosystem built around Reddit Community Points enabling points to be used in a wide variety of third party applications. That's right -- you can have your cake and eat it too!
Arbitrum Rollup isn't just Ethereum-style. Its Layer 2 transactions are byte-for-byte identical to Ethereum, which means Ethereum users can continue to use their existing addresses and wallets, and Ethereum developers can continue to use their favorite toolchains and development environments out-of-the-box with Arbitrum. Coupling Arbitrum’s tooling-compatibility with its trustless asset interoperability, Reddit not only can scale but can onboard the entire Ethereum community at no cost by giving them the same experience they already know and love (well, certainly know).
To benchmark how Arbitrum can scale Reddit Community Points, we launched the Reddit contracts on an Arbitrum Rollup chain. Since Arbitrum provides full Solidity support, we didn't have to rewrite the Reddit contracts or try to mimic their functionality using an unfamiliar paradigm. Nope, none of that. We launched the Reddit contracts unmodified on Arbitrum Rollup complete with support for minting and distributing points. Like every Arbitrum Rollup chain, the chain included a bridge interface in which users can transfer Community Points or any other asset between the L1 and L2 chains. Arbitrum Rollup chains also support dynamic contract loading, which would allow third-party developers to launch custom ecosystem apps that integrate with Community Points on the very same chain that runs the Reddit contracts.
1.1 Why Ethereum
Perhaps the most exciting benefit of distributing Community Points using a blockchain is the ability to seamlessly port points to other applications and use them in a wide variety of contexts. Applications may include simple transfers such as a restaurant that allows Redditors to spend points on drinks. Or it may include complex smart contracts -- such as placing Community Points as a wager for a multiparty game or as collateral in a financial contract.
The common denominator between all of the fun uses of Reddit points is that it needs a thriving ecosystem of both users and developers, and the Ethereum blockchain is perhaps the only smart contract platform with significant adoption today. While many Layer 1 blockchains boast lower cost or higher throughput than the Ethereum blockchain, more often than not, these attributes mask the reality of little usage, weaker security, or both.
Perhaps another platform with significant usage will rise in the future. But today, Ethereum captures the mindshare of the blockchain community, and for Community Points to provide the most utility, the Ethereum blockchain is the natural choice.
1.2 Why Arbitrum
While Ethereum's ecosystem is unmatched, the reality is that fees are high and capacity is too low to support the scale of Reddit Community Points. Enter Arbitrum. Arbitrum Rollup provides all of the ecosystem benefits of Ethereum, but with orders of magnitude more capacity and at a fraction of the cost of native Ethereum smart contracts. And most of all, we don't change the experience from users. They continue to use the same wallets, addresses, languages, and tools.
Arbitrum Rollup is not the only solution that can scale payments, but it is the only developed solution that can scale both payments and arbitrary smart contracts trustlessly, which means that third party users can build highly scalable add-on apps that can be used without withdrawing money from the Rollup chain. If you believe that Reddit users will want to use their Community Points in smart contracts--and we believe they will--then it makes the most sense to choose a single scaling solution that can support the entire ecosystem, eliminating friction for users.
We view being able to run smart contracts in the same scaling solution as fundamentally critical since if there's significant demand in running smart contracts from Reddit's ecosystem, this would be a load on Ethereum and would itself require a scaling solution. Moreover, having different scaling solutions for the minting/distribution/spending of points and for third party apps would be burdensome for users as they'd have to constantly shuffle their Points back and forth.
2. Arbitrum at a glance
Arbitrum Rollup has a unique value proposition as it offers a combination of features that no other scaling solution achieves. Here we highlight its core attributes.
Decentralized. Arbitrum Rollup is as decentralized as Ethereum. Unlike some other Layer 2 scaling projects, Arbitrum Rollup doesn't have any centralized components or centralized operators who can censor users or delay transactions. Even in non-custodial systems, centralized components provide a risk as the operators are generally incentivized to increase their profit by extracting rent from users often in ways that severely degrade user experience. Even if centralized operators are altruistic, centralized components are subject to hacking, coercion, and potential liability.
Massive Scaling. Arbitrum achieves order of magnitude scaling over Ethereum's L1 smart contracts. Our software currently supports 453 transactions-per-second for basic transactions (at 1616 Ethereum gas per tx). We have a lot of room left to optimize (e.g. aggregating signatures), and over the next several months capacity will increase significantly. As described in detail below, Arbitrum can easily support and surpass Reddit's anticipated initial load, and its capacity will continue to improve as Reddit's capacity needs grow.
Low cost. The cost of running Arbitrum Rollup is quite low compared to L1 Ethereum and other scaling solutions such as those based on zero-knowledge proofs. Layer 2 fees are low, fixed, and predictable and should not be overly burdensome for Reddit to cover. Nobody needs to use special equipment or high-end machines. Arbitrum requires validators, which is a permissionless role that can be run on any reasonable on-line machine. Although anybody can act as a validator, in order to protect against a “tragedy of the commons” and make sure reputable validators are participating, we support a notion of “invited validators” that are compensated for their costs. In general, users pay (low) fees to cover the invited validators’ costs, but we imagine that Reddit may cover this cost for its users. See more on the costs and validator options below.
Ethereum Developer Experience. Not only does Arbitrum support EVM smart contracts, but the developer experience is identical to that of L1 Ethereum contracts and fully compatible with Ethereum tooling. Developers can port existing Solidity apps or write new ones using their favorite and familiar toolchains (e.g. Truffle, Buidler). There are no new languages or coding paradigms to learn.
Ethereum wallet compatibility. Just as in Ethereum, Arbitrum users need only hold keys, but do not have to store any coin history or additional data to protect or access their funds. Since Arbitrum transactions are semantically identical to Ethereum L1 transactions, existing Ethereum users can use their existing Ethereum keys with their existing wallet software such as Metamask.
Token interoperability. Users can easily transfer their ETH, ERC-20 and ERC-721 tokens between Ethereum and the Arbitrum Rollup chain. As we explain in detail below, it is possible to mint tokens in L2 that can subsequently be withdrawn and recognized by the L1 token contract.
Fast finality. Transactions complete with the same finality time as Ethereum L1 (and it's possible to get faster finality guarantees by trading away trust assumptions; see the Arbitrum Rollup whitepaper for details).
Non-custodial. Arbitrum Rollup is a non-custodial scaling solution, so users control their funds/points and neither Reddit nor anyone else can ever access or revoke points held by users.
Censorship Resistant. Since it's completely decentralized, and the Arbitrum protocol guarantees progress trustlessly, Arbitrum Rollup is just as censorship-proof as Ethereum.
Block explorer. The Arbitrum Rollup block explorer allows users to view and analyze transactions on the Rollup chain.
Limitations
Although this is a bake-off, we're not going to sugar coat anything. Arbitrum Rollup, like any Optimistic Rollup protocol, does have one limitation, and that's the delay on withdrawals.
As for the concrete length of the delay, we've done a good deal of internal modeling and have blogged about this as well. Our current modeling suggests a 3-hour delay is sufficient (but as discussed in the linked post there is a tradeoff space between the length of the challenge period and the size of the validators’ deposit).
Note that this doesn't mean that the chain is delayed for three hours. Arbitrum Rollup supports pipelining of execution, which means that validators can keep building new states even while previous ones are “in the pipeline” for confirmation. As the challenge delays expire for each update, a new state will be confirmed (read more about this here).
So activity and progress on the chain are not delayed by the challenge period. The only thing that's delayed is the consummation of withdrawals. Recall though that any single honest validator knows immediately (at the speed of L1 finality) which state updates are correct and can guarantee that they will eventually be confirmed, so once a valid withdrawal has been requested on-chain, every honest party knows that the withdrawal will definitely happen. There's a natural place here for a liquidity market in which a validator (or someone who trusts a validator) can provide withdrawal loans for a small interest fee. This is a no-risk business for them as they know which withdrawals will be confirmed (and can force their confirmation trustlessly no matter what anyone else does) but are just waiting for on-chain finality.
3. The recipe: How Arbitrum Rollup works
For a description of the technical components of Arbitrum Rollup and how they interact to create a highly scalable protocol with a developer experience that is identical to Ethereum, please refer to the following documents:
Arbitrum Rollup Whitepaper
Arbitrum academic paper (describes a previous version of Arbitrum)
4. Developer docs and APIs
For full details about how to set up and interact with an Arbitrum Rollup chain or validator, please refer to our developer docs, which can be found at https://developer.offchainlabs.com/.
Note that the Arbitrum version described on that site is older and will soon be replaced by the version we are entering in Reddit Bake-Off, which is still undergoing internal testing before public release.
5. Who are the validators?
As with any Layer 2 protocol, advancing the protocol correctly requires at least one validator (sometimes called block producers) that is honest and available. A natural question is: who are the validators?
Recall that the validator set for an Arbitrum chain is open and permissionless; anyone can start or stop validating at will. (A useful analogy is to full nodes on an L1 chain.) But we understand that even though anyone can participate, Reddit may want to guarantee that highly reputable nodes are validating their chain. Reddit may choose to validate the chain themselves and/or hire third-party validators.To this end, we have begun building a marketplace for validator-for-hire services so that dapp developers can outsource validation services to reputable nodes with high up-time. We've announced a partnership in which Chainlink nodes will provide Arbitrum validation services, and we expect to announce more partnerships shortly with other blockchain infrastructure providers.
Although there is no requirement that validators are paid, Arbitrum’s economic model tracks validators’ costs (e.g. amount of computation and storage) and can charge small fees on user transactions, using a gas-type system, to cover those costs. Alternatively, a single party such as Reddit can agree to cover the costs of invited validators.
6. Reddit Contract Support
Since Arbitrum contracts and transactions are byte-for-byte compatible with Ethereum, supporting the Reddit contracts is as simple as launching them on an Arbitrum chain.
Minting. Arbitrum Rollup supports hybrid L1/L2 tokens which can be minted in L2 and then withdrawn onto the L1. An L1 contract at address A can make a special call to the EthBridge which deploys a "buddy contract" to the same address A on an Arbitrum chain. Since it's deployed at the same address, users can know that the L2 contract is the authorized "buddy" of the L1 contract on the Arbitrum chain.
For minting, the L1 contract is a standard ERC-20 contract which mints and burns tokens when requested by the L2 contract. It is paired with an ERC-20 contract in L2 which mints tokens based on whatever programmer provided minting facility is desired and burns tokens when they are withdrawn from the rollup chain. Given this base infrastructure, Arbitrum can support any smart contract based method for minting tokens in L2, and indeed we directly support Reddit's signature/claim based minting in L2.
Batch minting. What's better than a mint cookie? A whole batch! In addition to supporting Reddit’s current minting/claiming scheme, we built a second minting design, which we believe outperforms the signature/claim system in many scenarios.
In the current system, Reddit periodically issues signed statements to users, who then take those statements to the blockchain to claim their tokens. An alternative approach would have Reddit directly submit the list of users/amounts to the blockchain and distribute the tokens to the users without the signature/claim process.
To optimize the cost efficiency of this approach, we designed an application-specific compression scheme to minimize the size of the batch distribution list. We analyzed the data from Reddit's previous distributions and found that the data is highly compressible since token amounts are small and repeated, and addresses appear multiple times. Our function groups transactions by size, and replaces previously-seen addresses with a shorter index value. We wrote client code to compress the data, wrote a Solidity decompressing function, and integrated that function into Reddit’s contract running on Arbitrum.
When we ran the compression function on the previous Reddit distribution data, we found that we could compress batched minting data down to to 11.8 bytes per minting event (averaged over a 6-month trace of Reddit’s historical token grants)compared with roughly 174 bytes of on-chain data needed for the signature claim approach to minting (roughly 43 for an RLP-encoded null transaction + 65 for Reddit's signature + 65 for the user's signature + roughly 8 for the number of Points) .
The relative benefit of the two approaches with respect to on-chain call data cost depends on the percentage of users that will actually claim their tokens on chain. With the above figures, batch minting will be cheaper if roughly 5% of users redeem their claims. We stress that our compression scheme is not Arbitrum-specific and would be beneficial in any general-purpose smart contract platform.
8. Benchmarks and costs
In this section, we give the full costs of operating the Reddit contracts on an Arbitrum Rollup chain including the L1 gas costs for the Rollup chain, the costs of computation and storage for the L2 validators as well as the capital lockup requirements for staking.
Arbitrum Rollup is still on testnet, so we did not run mainnet benchmarks. Instead, we measured the L1 gas cost and L2 workload for Reddit operations on Arbitrum and calculated the total cost assuming current Ethereum gas prices. As noted below in detail, our measurements do not assume that Arbitrum is consuming the entire capacity of Ethereum. We will present the details of our model now, but for full transparency you can also play around with it yourself and adjust the parameters, by copying the spreadsheet found here.
Our cost model is based on measurements of Reddit’s contracts, running unmodified (except for the addition of a batch minting function) on Arbitrum Rollup on top of Ethereum.
On the distribution of transactions and frequency of assertions. Reddit's instructions specify the following minimum parameters that submissions should support:
Over a 5 day period, your scaling PoC should be able to handle:
  • 100,000 point claims (minting & distributing points)
  • 25,000 subscriptions
  • 75,000 one-off points burning
  • 100,000 transfers
We provide the full costs of operating an Arbitrum Rollup chain with this usage under the assumption that tokens are minted or granted to users in batches, but other transactions are uniformly distributed over the 5 day period. Unlike some other submissions, we do not make unrealistic assumptions that all operations can be submitted in enormous batches. We assume that batch minting is done in batches that use only a few percent on an L1 block’s gas, and that other operations come in evenly over time and are submitted in batches, with one batch every five minutes to keep latency reasonable. (Users are probably already waiting for L1 finality, which takes at least that long to achieve.)
We note that assuming that there are only 300,000 transactions that arrive uniformly over the 5 day period will make our benchmark numbers lower, but we believe that this will reflect the true cost of running the system. To see why, say that batches are submitted every five minutes (20 L1 blocks) and there's a fixed overhead of c bytes of calldata per batch, the cost of which will get amortized over all transactions executed in that batch. Assume that each individual transaction adds a marginal cost of t. Lastly assume the capacity of the scaling system is high enough that it can support all of Reddit's 300,000 transactions within a single 20-block batch (i.e. that there is more than c + 300,000*t byes of calldata available in 20 blocks).
Consider what happens if c, the per-batch overhead, is large (which it is in some systems, but not in Arbitrum). In the scenario that transactions actually arrive at the system's capacity and each batch is full, then c gets amortized over 300,000 transactions. But if we assume that the system is not running at capacity--and only receives 300,000 transactions arriving uniformly over 5 days-- then each 20-block assertion will contain about 200 transactions, and thus each transaction will pay a nontrivial cost due to c.
We are aware that other proposals presented scaling numbers assuming that 300,000 transactions arrived at maximum capacity and was executed in a single mega-transaction, but according to our estimates, for at least one such report, this led to a reported gas price that was 2-3 orders of magnitude lower than it would have been assuming uniform arrival. We make more realistic batching assumptions, and we believe Arbitrum compares well when batch sizes are realistic.
Our model. Our cost model includes several sources of cost:
  • L1 gas costs: This is the cost of posting transactions as calldata on the L1 chain, as well as the overhead associated with each batch of transactions, and the L1 cost of settling transactions in the Arbitrum protocol.
  • Validator’s staking costs: In normal operation, one validator will need to be staked. The stake is assumed to be 0.2% of the total value of the chain (which is assumed to be $1 per user who is eligible to claim points). The cost of staking is the interest that could be earned on the money if it were not staked.
  • Validator computation and storage: Every validator must do computation to track the chain’s processing of transactions, and must maintain storage to keep track of the contracts’ EVM storage. The cost of computation and storage are estimated based on measurements, with the dollar cost of resources based on Amazon Web Services pricing.
It’s clear from our modeling that the predominant cost is for L1 calldata. This will probably be true for any plausible rollup-based system.
Our model also shows that Arbitrum can scale to workloads much larger than Reddit’s nominal workload, without exhausting L1 or L2 resources. The scaling bottleneck will ultimately be calldata on the L1 chain. We believe that cost could be reduced substantially if necessary by clever encoding of data. (In our design any compression / decompression of L2 transaction calldata would be done by client software and L2 programs, never by an L1 contract.)
9. Status of Arbitrum Rollup
Arbitrum Rollup is live on Ethereum testnet. All of the code written to date including everything included in the Reddit demo is open source and permissively licensed under the Apache V2 license. The first testnet version of Arbitrum Rollup was released on testnet in February. Our current internal version, which we used to benchmark the Reddit contracts, will be released soon and will be a major upgrade.
Both the Arbitrum design as well as the implementation are heavily audited by independent third parties. The Arbitrum academic paper was published at USENIX Security, a top-tier peer-reviewed academic venue. For the Arbitrum software, we have engaged Trail of Bits for a security audit, which is currently ongoing, and we are committed to have a clean report before launching on Ethereum mainnet.
10. Reddit Universe Arbitrum Rollup Chain
The benchmarks described in this document were all measured using the latest internal build of our software. When we release the new software upgrade publicly we will launch a Reddit Universe Arbitrum Rollup chain as a public demo, which will contain the Reddit contracts as well as a Uniswap instance and a Connext Hub, demonstrating how Community Points can be integrated into third party apps. We will also allow members of the public to dynamically launch ecosystem contracts. We at Offchain Labs will cover the validating costs for the Reddit Universe public demo.
If the folks at Reddit would like to evaluate our software prior to our public demo, please email us at [email protected] and we'd be more than happy to provide early access.
11. Even more scaling: Arbitrum Sidechains
Rollups are an excellent approach to scaling, and we are excited about Arbitrum Rollup which far surpasses Reddit's scaling needs. But looking forward to Reddit's eventual goal of supporting hundreds of millions of users, there will likely come a time when Reddit needs more scaling than any Rollup protocol can provide.
While Rollups greatly reduce costs, they don't break the linear barrier. That is, all transactions have an on-chain footprint (because all calldata must be posted on-chain), albeit a far smaller one than on native Ethereum, and the L1 limitations end up being the bottleneck for capacity and cost. Since Ethereum has limited capacity, this linear use of on-chain resources means that costs will eventually increase superlinearly with traffic.
The good news is that we at Offchain Labs have a solution in our roadmap that can satisfy this extreme-scaling setting as well: Arbitrum AnyTrust Sidechains. Arbitrum Sidechains are similar to Arbitrum Rollup, but deviate in that they name a permissioned set of validators. When a chain’s validators agree off-chain, they can greatly reduce the on-chain footprint of the protocol and require almost no data to be put on-chain. When validators can't reach unanimous agreement off-chain, the protocol reverts to Arbitrum Rollup. Technically, Arbitrum Sidechains can be viewed as a hybrid between state channels and Rollup, switching back and forth as necessary, and combining the performance and cost that state channels can achieve in the optimistic case, with the robustness of Rollup in other cases. The core technical challenge is how to switch seamlessly between modes and how to guarantee that security is maintained throughout.
Arbitrum Sidechains break through this linear barrier, while still maintaining a high level of security and decentralization. Arbitrum Sidechains provide the AnyTrust guarantee, which says that as long as any one validator is honest and available (even if you don't know which one will be), the L2 chain is guaranteed to execute correctly according to its code and guaranteed to make progress. Unlike in a state channel, offchain progress does not require unanimous consent, and liveness is preserved as long as there is a single honest validator.
Note that the trust model for Arbitrum Sidechains is much stronger than for typical BFT-style chains which introduce a consensus "voting" protocols among a small permissioned group of validators. BFT-based protocols require a supermajority (more than 2/3) of validators to agree. In Arbitrum Sidechains, by contrast, all you need is a single honest validator to achieve guaranteed correctness and progress. Notice that in Arbitrum adding validators strictly increases security since the AnyTrust guarantee provides correctness as long as any one validator is honest and available. By contrast, in BFT-style protocols, adding nodes can be dangerous as a coalition of dishonest nodes can break the protocol.
Like Arbitrum Rollup, the developer and user experiences for Arbitrum Sidechains will be identical to that of Ethereum. Reddit would be able to choose a large and diverse set of validators, and all that they would need to guarantee to break through the scaling barrier is that a single one of them will remain honest.
We hope to have Arbitrum Sidechains in production in early 2021, and thus when Reddit reaches the scale that surpasses the capacity of Rollups, Arbitrum Sidechains will be waiting and ready to help.
While the idea to switch between channels and Rollup to get the best of both worlds is conceptually simple, getting the details right and making sure that the switch does not introduce any attack vectors is highly non-trivial and has been the subject of years of our research (indeed, we were working on this design for years before the term Rollup was even coined).
12. How Arbitrum compares
We include a comparison to several other categories as well as specific projects when appropriate. and explain why we believe that Arbitrum is best suited for Reddit's purposes. We focus our attention on other Ethereum projects.
Payment only Rollups. Compared to Arbitrum Rollup, ZK-Rollups and other Rollups that only support token transfers have several disadvantages:
  • As outlined throughout the proposal, we believe that the entire draw of Ethereum is in its rich smart contracts support which is simply not achievable with today's zero-knowledge proof technology. Indeed, scaling with a ZK-Rollup will add friction to the deployment of smart contracts that interact with Community Points as users will have to withdraw their coins from the ZK-Rollup and transfer them to a smart contract system (like Arbitrum). The community will be best served if Reddit builds on a platform that has built-in, frictionless smart-contract support.
  • All other Rollup protocols of which we are aware employ a centralized operator. While it's true that users retain custody of their coins, the centralized operator can often profit from censoring, reordering, or delaying transactions. A common misconception is that since they're non-custodial protocols, a centralized sequencer does not pose a risk but this is incorrect as the sequencer can wreak havoc or shake down users for side payments without directly stealing funds.
  • Sidechain type protocols can eliminate some of these issues, but they are not trustless. Instead, they require trust in some quorum of a committee, often requiring two-third of the committee to be honest, compared to rollup protocols like Arbitrum that require only a single honest party. In addition, not all sidechain type protocols have committees that are diverse, or even non-centralized, in practice.
  • Plasma-style protocols have a centralized operator and do not support general smart contracts.
13. Concluding Remarks
While it's ultimately up to the judges’ palate, we believe that Arbitrum Rollup is the bakeoff choice that Reddit kneads. We far surpass Reddit's specified workload requirement at present, have much room to optimize Arbitrum Rollup in the near term, and have a clear path to get Reddit to hundreds of millions of users. Furthermore, we are the only project that gives developers and users the identical interface as the Ethereum blockchain and is fully interoperable and tooling-compatible, and we do this all without any new trust assumptions or centralized components.
But no matter how the cookie crumbles, we're glad to have participated in this bake-off and we thank you for your consideration.
About Offchain Labs
Offchain Labs, Inc. is a venture-funded New York company that spun out of Princeton University research, and is building the Arbitrum platform to usher in the next generation of scalable, interoperable, and compatible smart contracts. Offchain Labs is backed by Pantera Capital, Compound VC, Coinbase Ventures, and others.
Leadership Team
Ed Felten
Ed Felten is Co-founder and Chief Scientist at Offchain Labs. He is on leave from Princeton University, where he is the Robert E. Kahn Professor of Computer Science and Public Affairs. From 2015 to 2017 he served at the White House as Deputy United States Chief Technology Officer and senior advisor to the President. He is an ACM Fellow and member of the National Academy of Engineering. Outside of work, he is an avid runner, cook, and L.A. Dodgers fan.
Steven Goldfeder
Steven Goldfeder is Co-founder and Chief Executive Officer at Offchain Labs. He holds a PhD from Princeton University, where he worked at the intersection of cryptography and cryptocurrencies including threshold cryptography, zero-knowledge proof systems, and post-quantum signatures. He is a co-author of Bitcoin and Cryptocurrency Technologies, the leading textbook on cryptocurrencies, and he has previously worked at Google and Microsoft Research, where he co-invented the Picnic signature algorithm. When not working, you can find Steven spending time with his family, taking a nature walk, or twisting balloons.
Harry Kalodner
Harry Kalodner is Co-founder and Chief Technology Officer at Offchain Labs where he leads the engineering team. Before the company he attended Princeton as a Ph.D candidate where his research explored economics, anonymity, and incentive compatibility of cryptocurrencies, and he also has worked at Apple. When not up at 3:00am writing code, Harry occasionally sleeps.
submitted by hkalodner to ethereum [link] [comments]

How much does it cost to develop a cryptowallet for business?

How much does it cost to develop a cryptowallet for business?
A cryptocurrency wallet is specific software that allows you to make global non-cash payments and keep your profit securely stored. There are multiple reasons why business owners switch to cryptocurrency wallets such as no government invasion, multi-currency operations, quickness, no physical currency involved. However, it is necessary to develop your personalized wallet if you want to scale your business and simplify financial transactions. In this article, we will discuss what is the average price of cryptowallet development and how it will benefit your business.
https://preview.redd.it/wxe1e9l5n5r51.jpg?width=2508&format=pjpg&auto=webp&s=5c0b9b94aba2bfe8f877b7aa3f27a0f0592ab5ce
Firstly, it is important to understand the necessity of cryptowallet for entrepreneurs:
  • some transactions require a long waiting period and verification in the bank:
  • high fees on international transactions and unprofitable currency exchange rate;
  • lack of privacy, since online money transfer through a bank is impossible without the provision of personal information;
How does cryptowallet work?
  • fast and secure transactions carried within a few minutes;
  • private keys are safely stored and the transaction is processed between blockchain network members:
  • transaction fees are relatively low in comparison with a bank;
  • a completely anonymous environment;
You should keep in mind a few things that will influence the cost before the development process
Wallet type
There are two main wallet types: the desktop (installed on the PC) and the mobile app that can provide users with constant access to their funds.
Bitcoin libraries
You can either create a cryptocurrency wallet using one of the libraries (e.g. Coinbase, BitcoinJ) for Android and iOS and synchronize it with various API’s or create an application from the scratch.
Size of the development company
If you decide to get a highly customized wallet app, the estimated price will largely depend on the size of the company you are choosing. Anyway, cryptowallet development requires large investments and even hiring a small-sized company will cost you from $15,000-$20,000. The pricing depends on the features included. Also, the type of coins you want to use in your wallet app is a factor that influences the cost. Since it is not possible to calculate the exact cost of development, we will present the average prices of the basic features that are compulsory in your app:
Backend development from $10,000
Design from $7,000
Web/Desktop $7,000
Also, you can add numerous features to secure and vary your transactions:
Secured authentication & authorization, Windows/Linux/Mac wallet, iOS app, Android app, push notifications, QR code scanner, customer support, multiple cryptocurrency, optional password protection etc.
The development of a cryptocurrency wallet is an innovative tool that can bring your business to the next level. Evercode Lab developed a unique multi-currency crypto wallets (Atomic Wallet and Guarda), guaranteeing the fastest transactions, maximum security, and anonymity. Our company provides a wide range of services from consulting to a full-time development team as well as crypto asset security.
submitted by Fantastic_Tour_6829 to u/Fantastic_Tour_6829 [link] [comments]

Voici LA chronique à découvrir, intitulée: La guerre contre Bitcoin. Idéal pour comprendre certains tenants et aboutissants

Voici LA chronique à découvrir, intitulée: La guerre contre Bitcoin. Idéal pour comprendre certains tenants et aboutissants… Bonne découverte.
La guerre contre Bitcoin
Bitcoin est peut-être le meilleur outil de liberté économique de cette génération, et peut-être depuis plusieurs générations. Malheureusement, Bitcoin a été furieusement étouffé par une guerre civile brutale depuis environ cinq ans maintenant; menée par des ingénieurs sociaux professionnels de certaines des entreprises les plus puissantes de l'espace des médias sociaux. Leur talent dans l'art et la science de la manipulation a permis aux "Bitcoiners" de se battre largement entre eux plutôt que de chercher à créer des modèles commerciaux innovants basés sur les données qui pourraient révolutionner l'économie mondiale via Bitcoin.
À la suite de la guerre civile de Bitcoin, trois versions concurrentes de Bitcoin ont vu le jour (BTC, BCH et Bitcoin SV ), mais il en est de même pour environ 3000 autres projets et jetons de « crypto-monnaie » se faisant passer pour des entreprises légitimes - jusqu'à un "exit scam" presque garantie, le fait de disparaitre du jour au lendemain avec tout l'argent des utilisateurs. Le principal bienfaiteur de la guerre civile Bitcoin a été Ethereum: une machine à états mondiale qui permet un déploiement facile de tokens et de contrats intelligents, mais le protocole Ethereum ne peut pas évoluer, et parmis les milliers de projets lancés, seule une poignée pourrait même être présentée comme avoir les ingrédients nécessaires pour devenir des entreprises légitimes. La plupart des autres sont des stratagèmes de Ponzi ou des émissions d'actions illégales - enrichissant les développeurs et escroquant les investisseurs amateurs.
C'est dans ce contexte que les défenseurs de BTC et de BCH, les porte-parole d'Ethereum et les altcoiners de tous bords s'alignent pour attaquer sans cesse le protocole Bitcoin préservé uniquement par le réseau BSV. Une industrie composée presque entièrement de criminels, de fraudes et d'arnaqueurs s'est unie contre BSV citant (et c'est là l'ironie) une prétendue fraude et arnaque présumée qui est l'existence même de BSV.
Nous devons nous demander pourquoi ?
Quel est le différenciateur clé de BSV?
Pourquoi tous les arnaqueurs se sont-ils unis contre lui?
Je suis fermement convaincu que pour la plupart, la motivation est la peur de la capacité de BSV à absorber l'économie mondiale et tous les autres projets «crypto» qui vont avec. Pour les autres, ou ceux qui ne comprennent pas le pouvoir du Bitcoin, ils sont entraînés dans une guerre culturelle qu'ils ne comprennent pas. Il est essentiel de comprendre les pouvoirs en jeu et leurs implications pour Bitcoin et l'économie mondiale.
Une histoire brève
Bitcoin a été lancé avec un "livre blanc" sur la liste de diffusion de cryptographie en 2008. Le pseudonyme « Satoshi Nakamoto » a déclaré une solution au problème de la double dépense. Or le problème de la double dépense de tous les précédents systèmes de paiement électronique était le seul facteur limitant l'adoption d'une monnaie électronique fonctionnelle. Il était impossible de prouver exactement qui possédait quelles unités d'argent sur leurs registres distribués, de sorte que les systèmes ne pouvaient pas faire confiance, et ces projets mourraient assez vite. Bitcoin a résolu ce problème avec un concept appelé « preuve de travail». Il poste la question: qui a brûlé le plus de puissance de calcul pour résoudre des énigmes arbitraires afin de rendre compte de l'état du registre d'une manière qui coûte de l'argent, de sorte qu'il y ait une incitation économique à tenir un compte honnête des avoirs de chacun. Ce processus est souvent appelé « exploitation minière » car les nœuds honnêtes qui maintiennent l'état du registre sont récompensés pour leur travail avec des Bitcoins toutes les dix minutes - un peu à la même manière d'un mineur d'or qui est récompensé par de l'or en échange de son travail.
Étant donné que Bitcoin n'avait aucune valeur lors de son lancement, il était extrêmement facile à miner et également gratuit d'envoyer des tonnes de transactions. En théorie, il s'agissait d'un vecteur d'attaque par déni de service (DoS). Une attaque DoS ou DDoS se produit lorsque les nœuds sont inondés de plus de données qu'ils ne peuvent en gérer et qu'ils plantent. Sur un jeune réseau Bitcoin, un crash comme celui-ci aurait été considéré comme un échec du réseau, donc un plafond de 1 Mo de données pour chaque dix minutes de temps de transaction a été codé en dur dans le logiciel - semant la première graine de la guerre civile Bitcoin . De 2009 à 2017, cette limite de 1 Mo sur le total des transactions était l'aspect technique le plus controversé du bitcoin.
Pourquoi est-ce important?
Une seule et simple transaction Bitcoin est relativement petite du point de vue des données, donc 1 Mo toutes les dix minutes donne environ trois à sept transactions par seconde avant que le réseau ne devienne trop encombré. Satoshi Nakamoto a plaidé pour un nombre de transactions au niveau de Visa, ainsi que son successeur direct en tant que développeur principal du projet, Gavin Andresen! Certains des premiers Bitcoiners influents comme Mike Hearn et Jeff Garzik ont ​​également plaidé pour plus de données par bloc pour permettre à Bitcoin de se développer pour rester un simple système de paiement électronique. Ils étaient pour des «gros blocs» contrairement au camp des «petits blocs» qui préconisaient une permanence de la limitation de 1 Mo de Bitcoin.
Le camp des "petits blocs" estiment que Bitcoin n'est pas un réseau de paiement, mais plutôt qu'il s'apparente davantage à une banque décentralisée conçue pour stocker des Bitcoins qui ne bougent jamais: une sorte de coffre-fort d'or numérique. Ils voulaient que la limite de taille des blocs de 1 Mo reste permanente sous les auspices de chaque personne exécutant un «nœud bitcoin complet» sans avoir à payer trop d'espace sur le disque dur. Cela signifierait qu'en période de congestion, les frais de transaction deviendraient absurdement élevés, mais cela n'aurait pas d'importance car le bitcoin ne devrait pas être négocié sauf en grosses quantitées de toute façon. L'autre problème est que s'il est bon marché de rejoindre la gouvernance de Bitcoin, alors le réseau est facile à attaquer par sybil, et je dirais que BTC est régi par des sybilles à ce jour.
Le camp des "gros-blocs" estime que tout le monde sur terre devrait être en mesure d'échanger et de faire ses affaires sur Bitcoin.
Les "petits-blocs" pensent que tout le monde devrait être en mesure de gérer soi-même le registre mondial chez soi, mais que seules certaines personnes très riches devraient pouvoir effectuer des transactions.
Après des années de querelles, en 2017, Bitcoin s'est scindé en deux chaînes distinctes, et en 2018, il s'est à nouveau divisé.
Alors quelle est la différence entre ces versions ?
BTC est actuellement la version qui a le prix le plus élevé, avec la plus petite taille de bloc et la plus grande puissance de calcul. Malheureusement, il est régi par des développeurs de logiciels et des sybilles qui contrôlent le consensus grâce à une utilisation intelligente de logiciels malveillants appelés «soft-fork» qui leur permet de saper les règles du Bitcoin. Ils utilisent ce pouvoir pour changer les règles des transactions en mentant aux nœuds et en leur disant de les valider quand même. Toute la culture BTC consiste à acheter du BTC afin de le conserver jusqu'à un moment dans le futur où il sera vendu. Les paiements avec BTC ou les transactions de toute nature sont méprisés.
BCH est un réseau basé sur Bitcoin qui pense que les blocs devraient être à peine légèrement plus grands, mais ils ont également des développeurs en charge des règles, tout comme BTC, et ils pensent que Bitcoin devrait être catégorisé pour être utilisé uniquement pour le commerce de détail, mais rien de plus. Le réseau change de règles tous les six mois. Les transactions non commerciales sont en général méprisées.
BSV est la version restaurée du protocole Bitcoin original avec tous les paramètres ouverts afin que les nœuds honnêtes puissent s'engager dans un consensus conformément au livre blanc de Bitcoin - par preuve de travail ! Le protocole est gravé dans la pierre afin que les développeurs de logiciels ne puissent pas bricoler les règles. Cela permet aux entreprises de planifier des décennies d'utilisation du réseau et d'investir en toute confiance. En tant que seul réseau bitcoin totalement sans autorisation, le commerce de toute nature est encouragé sur BSV. Tout, allant des réseaux sociaux aux expériences de science des données météorologiques ou aux tests de disponibilité du réseau, est encouragé. Paiements de détail, tokenisation, ou tout autre type de contrat intelligent est simple à déployer sans limitations. Bitcoin SV n'a aucun limite sauf l'esprit humain et l'esprit d'entreprise.
Et c'est la racine de la haine envers BSV.
Les "petits-blocs" ont investi toute leur réputation et leurs moyens de subsistance sur la notion que le bitcoin est incapable de s'adapter. Pendant des années, des experts présumés ont convaincu de nombreuses personnes que les limites de taille de bloc de 2 Mo, 8 Mo ou 22 Mo casseraient littéralement Bitcoin. Ils ont furieusement mis en jeux leur réputation sur ces fausses notions. Et ensuite, BSV a eu de nombreux blocs de plus de 100 Mo. En fait, il y en a même eu quelques-uns de plus de 300 Mo! prouvant que les petits-blocs se trompent sur les limites du réseau. Mais cette prise de conscience est une menace pour l'hégémonie du récit de Bitcoin. Depuis 2015, lorsque le Dr Craig Wright est apparu sur les lieux pour expliquer que le bitcoin avait en réalité ZERO limitations, il a créé un tollé massif parmi l'intelligentsia des petits-blocs. Les leaders d'opinion de l'époque étaient payés pour prendre la parole lors de conférences où ils expliquaient à tort que Bitcoin n'était rien d'autre qu'une réserve de valeur rare sans autre utilité. Le Dr Wright parlait de l'échelle illimitée du réseau, de son exhaustivité de Turing et d'autres notions inconcevables (à l'époque) sur Bitcoin. Sa passion et ses connaissances se sont heurtées à des calomnies et des railleries. Ils se sont concentrés sur l'attaque de son personnage au lieu de discuter de Bitcoin!
C'est devenu l'une des principales méthodes d'attaque des petits-blocs. Lorsque de gros-blocs parlent des capacités de Bitcoin, ils sont ridiculisés en tant qu'escrocs et le sujet est toujours dirigé très loin de la discussion technique, car les petits-blocs savent bien qu'ils sortiraient perdants. Ils fouillent les dossiers personnels et cherchent des moyens de faire taire les gens du camp des grands-blocs de Bitcoin de la même manière que les guerriers de la justice sociale s'engagent dans la culture d'annulation contre leurs ennemis politiques.
Qui est le Dr Craig Wright et que fait-il?
Si vous ne le savez pas, Craig Wright est le scientifique en chef d'une société de recherche sur Bitcoin au Royaume-Uni appelée nChain : une société de 150 à 200 informaticiens. Craig dirige l'équipe qui étudie les possibilités de Bitcoin et de ses applications dans le monde. Il est l'un des experts en criminalité numérique les plus reconnus au monde avec les certifications SANS et GIAC ainsi que les titres GSE CISSP, CISA, CISM, CCE, GCFA, GLEG, GREM et GSPA. En outre, il est un polymathe multidisciplinaire de troisième cycle: un doctorat en informatique, économie et théologie et titulaire d'une maîtrise en statistique et en droit commercial international.
En 2015, il a également été exposé par une publication conjointe de WIRED et Gizmodo en tant que Satoshi Nakamoto, le créateur de Bitcoin. Quelques jours après cette révélation, les gens qui le soutenaient ont vu leurs clés d'accès au code révoquées, et de nombreux autres ont été instantanément bannis. Craig a été mis sous enquête par le bureau des impôts australien pour ce qu'il considérait être une erreur de comptabilisation probable de ses bitcoins. Les retombées ont été agressives et rapides, avec une gigantesque armée de petits-blocs, organisée sur Reddit et autres forums, et nouvellement financée par l'argent de la startup pro-petits-blocs appelée «Blockstream». Leur message était clair: Bitcoin doit garder de petits blocs. Le Bitcoin ne peut pas évoluer, et toute personne proche de Craig Wright sera harcelée pour se conformer à une armée de comptes Twitter anonymes et sans visage.
Au cours des années suivantes, Ira Kleiman, frère du défunt Dave Kleiman, a poursuivi Craig Wright pour sa part du prétendu «Partenariat Satoshi Nakamoto», affirmant que Dave était plus impliqué qu'il ne l'était réellement, et l'affaire est en cours actuellement, jusqu'à courant 2021. Ira Kleiman pense que Craig est Satoshi et a investi une fortune incalculable et a obtenu l'argent d'investisseurs extérieurs pour poursuivre sa poursuite. Il est clair que les bailleurs de fonds d'Ira pensent que Craig est également Satoshi.
Les critiques qualifient souvent la révélation publique et le procès public de Wright de ternir énormément sa réputation, mais il convient de noter que les deux sont arrivés à Wright et qu'il ne souhaitait clairement pas être pris dans l'une ou l'autre situation.
Au lieu de cela, Craig est un défenseur passionné de la vision d'un Bitcoin avec de gros blocs, appelant à la professionnalisation, à la légalisation et à l'utilisation mondiales de Bitcoin pour une utilisation à tous les niveaux du commerce. La réponse à la passion de Craig et à ses affirmations a été d'attaquer sa réputation et d'endosser Internet avec le surnom de «Faketoshi». Lorsque de simples brimades ont échoué contre le Dr Wright, des attaques ont été intensifiées pour remettre en question ses divers diplômes, des pétitions aux universités pour enquêter sur lui pour plagiat dans divers travaux, y compris des thèses de doctorat, etc. Wright a même revendiqué des menaces contre la vie des membres de sa famille et il y a plus qu'une petite preuve que, selon Ian Grigg, une des légendes de la cryptographie: «des gens sont morts pour Bitcoin, vraiment, des gens sont morts».
Les attaques en cours
Cela ne peut être assez souligné: la communauté des petits-blocs est construite autour de tactiques d'ingénierie sociale professionnelle. Gregory Maxwell, co-fondateur de la société Blockstream, a été formé à la pratique de l'ingénierie sociale et l'a utilisé de manière si subversive comme un outil de propagande pendant son mandat en tant que modérateur rémunéré de Wikipedia, qu'il a finalement été démis de ses fonctions avec les journaux d'administration citant une litanie d'infractions, notamment:
«Gmaxwell s'est engagé dans la création de faux comptes en masse…» - Alhutch 00:05, 23 janvier 2006 (UTC)
«Menaces, insultes grossières, usurpations d'identité d'un administrateur», -Husnock 03:18, 25 janvier 2006 (UTC)
«Son comportement est scandaleux. Franchement, il est hors de contrôle à ce stade. Son comportement d'intimidation doit cesser.» - FearÉIREANN 19:36, 22 janvier 2006 (UTC)
«Sa liste de contributions est hors de propos. C'est du vandalisme. C'est un comportement auquel je m'attendrais d'un éditeur en furie, ce que, franchement, Gmaxwell est.» - Splashtalk 20h00, 22 janvier 2006 (UTC)
«Prétend être un administrateur, menaçant de bloquer les personnes qui ne sont pas d'accord avec lui, fait régulièrement des attaques personnelles» - SlimVirgin (talk) 12h22, 22 janvier 2006 (UTC)
Il passe beaucoup de temps sur Reddit et d'autres forums à semer la peur sur les dangers des gros blocs, et il a été surpris en train de faire semblant d'être plusieurs comptes à la fois en train d'avoir de très longues discussions techniques sur Reddit destinées à submerger les nouveaux arrivants avec ce qui ressemble à un débat intellectuel.
Qui d'autre est attaqué?
L'autre cible commune de la machine de guerre anti-BSV est Calvin Ayre: le milliardaire à la tête de l'empire du groupe Ayre. Calvin est un entrepreneur canadien et antiguais qui a lancé un incubateur Internet à Vancouver au tout début du boom Internet. Fils d'un éleveur de porcs, Ayre est surtout connu en dehors de l'économie Bitcoin pour la création et la professionnalisation de l'industrie du jeu d'argent sur Internet. Plus particulièrement, sous la marque Bodog, Ayre a aidé à moderniser les lois financières américaines compliquées et obsolètes en poussant les limites dans les marchés gris qui existent où les dollars américains sont utilisés à travers les frontières pour s'engager dans un commerce juridiquement compliqué comme le jeu d'argent. Son travail dans ce domaine lui a valu une petite fortune et un passage sur une liste des «plus recherchés» pour blanchiment d'argent. C'est un point sur lequel les petits-blocs aiment se concentrer, mais ils le sortent complètement de son contexte. Calvin a finalement plaidé coupable à une accusation de délit, mais a été le fer de lance de la modernisation des lois et règlements américains qui existent aujourd'hui sur les marchés complètement ouverts et fonctionnels. Il est respecté pour son travail dans l'industrie du jeu, les médias et la philanthropie. Calvin est certainement le bienvenu aux États-Unis malgré la critique souvent citée et dépassée selon laquelle il est une sorte de hors-la-loi.
Calvin Ayre
Dans l'économie Bitcoin, Ayre est une figure de proue dans la gestion de nœuds Bitcoin honnêtes pendant plusieurs années sous les marques CoinGeek et TAAL, et il est un investisseur dans nChain ainsi que plusieurs startups dans l'espace BSV. Bien qu'il soit probablement le plus gros investisseur, il n'est pas le monolithe que les petits-blocs laisseraient croire aux critiques. Il est important de comprendre que des segments entiers de l'écosystème BSV existent complètement en dehors de son influence.
Twetch, par exemple, est une entreprise indépendante appartenant à l'écosystème BSV, célèbre pour ses attaques contre les médias sociaux centralisés. Ils sont même connus pour se moquer des entreprises qui acceptent l'argent d'Ayre, en plaisantant que Calvin possède tout sauf Twetch. Bien sûr, ce n'est pas vrai. Un autre excellent exemple est l'investisseur / entrepreneur indépendant Jack Liu : ancien dirigeant de Circle et OKEX. Liu possède la marque de hackathons CambrianSV ainsi que des propriétés précieuses dans l'espace BSV telles que RelayX, Streamanity, Output Capital, FloatSV et Dimely.
Les autres acteurs clés sont MatterPool Mining et leur écosystème Mattercloud: une joint-venture entre des acteurs indépendants de l'écosystème BSV, avec des connexions directes aux protocoles BoostPOW et 21e8 et des relations avec des développeurs BSV indépendants.
Bien sûr, il existe également des marques précieuses financées par Ayre. Il s'agit notamment de la propriété partielle via l'investissement dans HandCash, Centi, TonicPow et Unwriter's Planaria Corp.
Une autre mesure importante à prendre en compte est la distribution de la puissance de hachage. Alors qu'à un moment de l'histoire, les entreprises appartenant à Ayre représentent une quantité importante de hachage sur bitcoin, BSV est aujourd'hui en grande partie exploité par des mineurs concurrents de Binance, F2Pool, OKEX et ViaBTC - dont aucun n'est «ami» de BSV ou d'Ayre, mais beaucoup sont ennemis. Ces mineurs soulignent cependant la nature ouverte et sans permission de BSV pour permettre à quiconque de participer.
Ayre est un acteur important, mais en aucun cas un contrôleur de la direction de la blockchain ou des entreprises indépendantes dans l'économie BSV.
Mais pourquoi Craig poursuit-il tout le monde en justice ?
Tout d'abord, et c'est crucial, le procès le plus important de Craig est l'affaire Kleiman. Les autres cas existent uniquement à cause de la diffamation publique du Dr Wright. Le hashtag #CraigWrightIsAFraud circule largement, poussé en grande partie par un mélange de personnages anonymes sur Twitter. Plus particulièrement Magnus Granath AKA «Hodlonaut» a été averti qu'une accusation publique de fraude courait à son encontre. La carrière du Dr Wright est en informatique et en criminalistique numérique, donc le déclarer publiquement une fraude cause un préjudice financier au Dr Wright dans son domaine d'expertise commerciale. Puisque «Hodlnaut» a refusé de cesser, on lui a envoyer une requête pour être vu au tribunal. Cela a causé le célèbre podcasteur de petits-blocs Peter McCormack à mendier d'être poursuivi aussi - en augmentant la rhétorique diffamatoire contre le Dr Wright. À la demande de McCormack, il a lui aussi été attaqué en justice pour être vu au tribunal.
Cette ère de service a engendré la campagne #DelistBSV menée en grande partie par «CZ», le PDG charismatique de Binance Exchange. Divers autres échanges comme Shapeshift et Kraken ont publié des sondages publics demandant s'ils devaient emboîter le pas, et des petits-blocs bien organisés ont voté en masse pour retirer BSV de leurs échanges - citant la toxicité du Dr Wright pour avoir intenté des poursuites en diffamation contre Hodlonaut et McCormack. Finalement, BSV a été retiré de Binance, ShapeShift et Kraken. Il a également été noté publiquement par Coinbase et Gemini qu'ils ne soutiendraient pas du tout cette version de bitcoin à la suite du drame public.
Au fur et à mesure que les choses progressaient, le fondateur de Bitcoin.com, Roger Ver, a également réalisé une vidéo publique déclarant Wright comme arnaqueur. C'était après avoir travaillé sournoisement avec les développeurs Bitcoin ABC pour coder des points de contrôle dans le logiciel ABC de Bitcoin Cash, divisant de manière permanente le réseau Bitcoin pour la deuxième et dernière fois - un acte pour lequel Roger est également poursuivi par d'autres parties privées en Floride. Roger Ver a été averti que des problèmes juridiques similaires se présenteraient à sa porte pour avoir diffamé le Dr Wright, mais les critiques publiques ont persisté jusqu'à ce que Roger soit également entendu devant le tribunal et fournisse la preuve de la fraude de Wright, sous peine de sanctions pour diffamation publique. Son cas est en instance à Antigua-et-Barbuda, où il est récemment devenu citoyen.
Et ensuite il se passe quoi ?
Nous avons établi l'histoire du Bitcoin, de la guerre civile, des attaques publiques contre Wright, Ayre et BSV. Au moment d'écrire ces lignes, nous pouvons revenir sur les attaques contre Thomas Lee, Tim Draper et Jimmy Wales pour avoir eu une proximité avec BSV. Malgré la pression sociale, le rapport Fundstrat de Lee a rendu un examen élogieux du protocole fixe et de l'évolutivité infinie de BSV. Lee et son équipe étaient heureux de prendre la parole lors des événements précédents de CoinGeek, même après le tollé public.
Pour la conférence CoinGeek 2020 à New York, McCormack, Hodlonaut, « Arthur Van Pelt » et d'autres acteurs tels que le Dan Held de Kraken et une cacophonie de trolls anonymes sur Twitter ont mis à profit leur expérience de la culture d'annulation à la bolchevique pour faire pression sur les orateurs Gary Vaynerchuk , et d'autres orateurs prévus afin de les forcer à annuler leur participation à la conférence. Cette attaque sociale contre BSV, Dr. Wright, Ayre et les autres entreprises qui utilisent le réseau BSV pourrait être un cas gigantesque de fraude à la consommation. Ils trompent activement les gens en leur faisant croire que le protocole fixe et l'évolutivité infinie de Bitcoin SV sont en quelque sorte dangereux, alors qu'en fait, le protocole et le réseau sont imperméables à toutes les attaques, à l'exception de leur ingénierie sociale.
Bitcoin SV s'est développé professionnellement avec un portefeuille de brevets de classe mondiale. Il est utilisé par des entreprises indépendantes pour réaliser des profits et il est exploité sur le marché libre par un groupe décentralisé de nœuds honnêtes qui se font concurrence. Le réseau est fixe, sécurisé et en croissance grâce aux investissements de petites entreprises et de gestionnaires de capitaux mondiaux. Les mensonges au contraire sont basés sur une campagne massive de dénigrement perpétrée par les communautés d'autres cryptomonnaie qui craignent l'adoption mondiale de BSV comme outil de commerce et ce que cela signifiera pour eux. L'histoire ne sera pas gentille avec ces manipulateurs et leurs réseaux qui sont financés par les fraudes probables des échanges de crypto-monnaies off-shore, le (très probablement) frauduleux Tether Stablecoin, et l'économie de "pump-and-dump" qui sous-tend 95% du volume de négociation de l'ensemble de l'économie cryptomonnaie actuelle.
C'est une guerre civile. Il y aura toujours des victimes, mais alors que BTC et BCH se concentrent sur les ragots et les affaires illicites, BSV veut que le monde entier soit plus libre, plus souverain et plus capable de coopérer sur le registre mondial de la vérité afin que les entrepreneurs du monde puissent s'engager dans les grandes entreprises ou de simples nano-services sont rendus possibles uniquement par Bitcoin. Bitcoin est un test d'intelligence. Au fil du temps, les personnes intelligentes pourront voir à travers le brouillard de distorsion de la réalité créé pour confondre les innocents et reconnaître cela pour ce que c'est, une attaque coordonnée pour tenter de supprimer une technologie supérieure qui les rendrait obsolètes.

Des exemples d'applications Bitcoin que vous pouvez essayer dès aujourd'hui gratuitement ?
Si vous vous sentez prêt à faire le premier pas dans le futur vous êtes libres de tester les meilleurs applications du Metanet sur https://metastore.app/apps?sort=money
Le site le plus populaire du Metanet à ce jour est bit.ly/twetchapp, une version de twitter incensurable sur la blockchain, allez jeter un oeil !

_______________________
sources: traduit et inspiré de https://coingeek.com/the-war-on-bitcoin/
image : https://imgur.com/1Yb0Yle
submitted by zhell_ to BitcoinSVFrance [link] [comments]

Bitcoin Mixer | Best Bitcoin Mixer - Review Service

Bitcoin Mixer in these days when privacy is an issue of great concern, most people would not have that compromised because of their use of cryptocurrency. This is even more important because big corporations and the government have practically made us lose our privacy. If you’re a user on the bitcoin network, you may have wondered how to use it anonymously. This is why crypto mixer introduced bitcoin mixing on its platform.
We know that you want a service that would keep your coins safe and still maintain your anonymity. What we offer is a service that is second to none in the quest to blend your bitcoin. Our algorithm is top of the range that ensures that your bitcoin is completely anonymized making it impossible to be tracked. So whenever you use our service, you’re rest assured that you’re free from prying eyes.
As you must have known, mixers are not born equal. This is why you should go for a service that ensures that your bitcoin is effectively tumbled to obfuscate its trail. Less effective mixing services would not fool anyone but rather give you a false sense of security. We are sure that you’re aware of the risks associated with poorly blended coins your coins could be at risk of being completely expose to the public.
Additionally, the privacy that you hold so dear could be compromised, leaving you insecure. We know that you deserve the best, that is why at Bitcoin Tumbler, we endeavor to provide you with the best of bitcoin tumbling service.
HOW DOES IT WORK?
The Bitcoin Mixer is easy to use. In fact, you’ll get your bitcoin blended and your anonymity enhanced in 8 simple steps. Our easy-to-use platform is such that anyone can mix their bitcoin in minutes.
1) On our mixer page, click 'LET'S START'.
2) Then paste the bitcoin address where you want the mixed coins sent… or optional add up to 10 additional addresses to make your bitcoin more anonymous.
3) Set the custom mixing time delay.
There's a calculator where you can check the volume of bitcoin you'll receive after the mixing fee has been deducted.
4) Choose the level of mixer between Standard for anonymous or Premium to make your bitcoins completely untraceable, recommended for those who do darknet.
5) Click "Continue". click "Accept" This will load the next page where you'll see Save the "Letter of Guarantee" the bitcoin address where you'll deposit the bitcoin you want to be blended.
Bear in mind that the minimum volume of bitcoin mixed by our bitcoin blender is 0.0015 BTC.
6) Send the volume of bitcoin that you want to be mixed to mixer's address shown on the page.
7) That's it… your bitcoin is as good as new and will be in your designated wallet.
8) Destroy your session once the process is finished, you can still visit the same valid page session only 48 hours after the delay, the page will be permanently deleted…
However, the same mixing address will always be visible; it will only be deleted after 48 hours, so you can only have one mixing per delay.
It is a simple process yet the algorithm behind it is quite phenomenal. The bitcoin you receive after the custom time delay is unconnected with your previous wallet and no prying eyes can link.
The strength of our mixing service is that it gives you ‘new’ coins from sources unconnected to you without keeping logs of your activity on the platform.
Go to the site https://ghostmixer.cc
submitted by Anxious-Way9682 to bitcoinmixerreddit [link] [comments]

Best bitcoin mixer | Best bitcoin tumbler | Bitcoin anonymous blender

BEST BITCOIN TUMBLER HOW DOES IT WORK?
The Bitcoin Mixer is easy to use. In fact, you’ll get your bitcoin blended and your anonymity enhanced in 8 simple steps. Our easy-to-use platform is such that anyone can mix their bitcoin in minutes.
1) On our mixer page, click 'LET'S START'.
2) Then paste the bitcoin address where you want the mixed coins sent… or optional add up to 10 additional addresses to make your bitcoin more anonymous.
3) Set the custom mixing time delay.
There's a calculator where you can check the volume of bitcoin you'll receive after the mixing fee has been deducted.
4) Choose the level of mixer between Standard for anonymous or Premium to make your bitcoins completely untraceable, recommended for those who do darknet.
5) Click "Continue". click "Accept" This will load the next page where you'll see Save the "Letter of Guarantee" the bitcoin address where you'll deposit the bitcoin you want to be blended.
Bear in mind that the minimum volume of bitcoin mixed by our bitcoin blender is 0.0015 BTC.
6) Send the volume of bitcoin that you want to be mixed to mixer's address shown on the page.
7) That's it… your bitcoin is as good as new and will be in your designated wallet.
8) Destroy your session once the process is finished, you can still visit the same valid page session only 48 hours after the delay, the page will be permanently deleted…
However, the same mixing address will always be visible; it will only be deleted after 48 hours, so you can only have one mixing per delay.
It is a simple process yet the algorithm behind it is quite phenomenal. The bitcoin you receive after the custom time delay is unconnected with your previous wallet and no prying eyes can link.
The strength of our mixing service is that it gives you ‘new’ coins from sources unconnected to you without keeping logs of your activity on the platform.
Go to the site https://ghostmixer.cc
submitted by Anxious-Way9682 to bitcoinmixeranonymous [link] [comments]

Cryptowatch Credits, Donchian Channels

Cryptowatch Credits, Donchian Channels
Read this on the Cryptowatch Changelog.
This week Cryptowatch launched its new pricing structure — Cryptowatch Credits. Instead of upgrading your subscription to unlock features, you can now pay for the features you want, on-demand. Credits can be earned by completing the Onboarding list, or bought with bitcoin or a credit card. All of the core functions of Cryptowatch — trading, portfolio, charts and chat — remain completely free.
A new overlay has also been added to the Analysis menu — Donchian channels. This overlay plots the high and low prices for an asset over a given period, and is useful for signalling trends and ranges for day traders.

Credits

Cryptowatch has moved away from subscriptions to a more flexible pricing model — Cryptowatch Credits. In this system, you keep a balance of Credits in your account and pay for features only as you require them. All of the core functions of Cryptowatch — trading, portfolio, charts and chat — remain completely free.
The pricing page is now Credits and Billing, with pricing information and renewal options.
Accounts with open subscriptions had the cost of those subscriptions converted into a Credits balance upon release. You can pay for more Credits with bitcoin or by credit card. Clients with a credit card attached to their account can opt into automatic refills when their Credits balance is low.
Credits are currently used to pay for SMS alerts, REST and WebSocket API connectivity, and extensibility features like Zapier triggers.
Your Credits balance is always visible in the top-right of the screen, next to your account icon. Check out the Credits and Billing page to learn more.
Your Credits balance is always available in the top-bar of any page on Cryptowatch.
The Market Data REST API page has been updated with new pricing information. Anonymous users are now allotted up to 10 credits worth of API requests via the REST API. Clients with billing information in their account can purchase credits to increase their limits.
Pricing details for REST API requests.

Donchian Channels

Donchian Channels (a.k.a. Price Channels) is a new overlay in the Analysis menu that plots high and low prices over a determined period of time. The default period is 20 bars, which can be edited in the Inputs tab when Donchian Channels is selected. This overlay works well on all time periods (from 1 minute (1M) to 1 Week (1W). It does not factor the current bar into its calculation.
Donchian Channels overlaid on Kraken Futures: BTC/USD Perpetual.
submitted by kraken-lloyd to cryptowatch [link] [comments]

What is Bitcoin Mixer (Bitcoin Tumbler) and how does it work?

What is Bitcoin Mixer (Bitcoin Tumbler) and how does it work?
BITCOIN MIXER HOW DOES IT WORK?
Bitcoin Mixer | Bitcoin Tumbler with ghostmixer.cc
The Bitcoin Mixer is easy to use. In fact, you’ll get your bitcoin blended and your anonymity enhanced in 7 simple steps. Our easy-to-use platform is such that anyone can mix their bitcoin in minutes.
1) On our mixer page, click 'LET'S START'.
2) Then paste the bitcoin address where you want the mixed coins sent… or optional add up to 10 additional addresses to make your bitcoin more anonymous.
3) Set the custom mixing time delay.
There's a calculator where you can check the volume of bitcoin you'll receive after the mixing fee has been deducted.
4) Click "Continue". click "Accept" This will load the next page where you'll see Save the "Letter of Guarantee" the bitcoin address where you'll deposit the bitcoin you want to be blended.
Bear in mind that the minimum volume of bitcoin mixed by our bitcoin blender is 0.0015 BTC.
5) Send the volume of bitcoin that you want to be mixed to mixer's address shown on the page.
6) That's it… your bitcoin is as good as new and will be in your designated wallet.
7) Destroy your session once the process is finished, you can still visit the same valid page session only 48 hours after the delay, the page will be permanently deleted…
Go to the site https://ghostmixer.cc
submitted by compdownmi1971 to thebitcoinmixer [link] [comments]

What is BTC Tumbler (Bitcoin Tumbler) and How Does It Work?

What is BTC Tumbler (Bitcoin Tumbler) and How Does It Work?
The Bitcoin Tumbler is easy to use. In fact, you’ll get your bitcoin blended and your anonymity enhanced in 7 simple steps. Our easy-to-use platform is such that anyone can mix their bitcoin in minutes.
BTC Tumbler | Bitcoin Tumbler with ghostmixer.cc
1) On our mixer page, click 'LET'S START'.
2) Then paste the bitcoin address where you want the mixed coins sent… or optional add up to 10 additional addresses to make your bitcoin more anonymous.
3) Set the custom mixing time delay.
There's a calculator where you can check the volume of bitcoin you'll receive after the mixing fee has been deducted.
4) Click "Continue". click "Accept" This will load the next page where you'll see Save the "Letter of Guarantee" the bitcoin address where you'll deposit the bitcoin you want to be blended.
Bear in mind that the minimum volume of bitcoin mixed by our bitcoin blender is 0.0015 BTC.
5) Send the volume of bitcoin that you want to be mixed to mixer's address shown on the page.
6) That's it… your bitcoin is as good as new and will be in your designated wallet.
7) Destroy your session once the process is finished, you can still visit the same valid page session only 48 hours after the delay, the page will be permanently deleted…
Go to the site https://ghostmixer.cc
submitted by Prestigious_Debate55 to thebitcointumbler [link] [comments]

What is Delegated Harvesting and how does it work?

What is Delegated Harvesting and how does it work?

https://preview.redd.it/030pghigzkg51.png?width=1024&format=png&auto=webp&s=ee51e1f5bb87938ab610ee07951ad4daed798a20

Delegated harvesting lets you passively earn block rewards on-chain

Symbol has a noteworthy economic system that allows you to passively earn coin rewards just as if you were mining. This is better than staking rewards given by exchanges since you don’t need to put your coins on an exchange and you are earning actual block rewards.
On most other blockchains you have to operate a node in order to earn block rewards. That can be expensive and difficult for casual users. With our delegated harvesting system, your rights to earn rewards are based on how many XYM coins you are holding, but Symbol lets you delegate those rights to someone else’s node so they will earn rewards on your behalf. You’ll earn on-chain block rewards even when your computer is turned off, and the rewards are sent to you instantly, the moment they are earned. It requires a minimum balance of 10,000 XYM, and you can do it easily through a dashboard. Here’s how it all works.

Let’s chain some blocks

A quick block reward review: the process of adding transactions and other data to a blockchain is called creating blocks, and it’s what every computer in the network is trying to do. Blockchains pay a coin reward to the first account to create a new accepted block. The reward is called a block reward. If new coins are created to pay the block reward, it’s called mining. Symbol doesn’t create new coins for block rewards so it uses the term harvesting instead, but it’s nearly the same as mining.

We want proof

What’s the point of all this mining and harvesting? The problem is that anyone can join the network anonymously, so we would expect cheaters sending false data so they can spend the same coins twice or make other fake transactions. If we don’t know who is trustworthy, how do we choose who gets “write access” to account balances?
Bitcoin and many early protocols use a Proof of Work (POW) system. In POW every computer in the network is processing calculations as fast as possible until someone gets the right number. Whoever gets it first creates the next block. POW is effective at discouraging cheaters because it’s expensive to buy and power all the machines needed to mine profitably. Anyone who could make such a mining investment won’t want to risk being rejected.

Not that proof, different proof

The biggest drawback of POW is its insatiable consumption of electricity. It’s estimated that bitcoin alone consumes a quarter percent of global energy production. Unfortunately, that’s not a side effect, it’s the point; the more expensive it is to create blocks, the harder it is for bad actors to take over. In the early days users could mine POW coins on a laptop, but today it’s so expensive that only large industrial operators are competitive.
The most popular alternative system is Proof of Stake. POS is well-tested and has proven secure at large scale, and best of all, it requires no special energy usage. In a POS system, the protocol chooses an account at random to be the next block creator. However, an account’s chance of being chosen depends on the number of coins it holds. So users with the highest account balances have the highest chances of creating new blocks. This is a good way to ensure security, but one downside is that it encourages hoarding.

Proof of stake plus

Symbol uses a Proof of Stake Plus (POS+) system, which adds a few weighting factors on top of Proof of Stake to incentivize a healthier economic system. For example, POS+ gives an advantage to accounts that have many recent transactions in order to encourage network usage. So if you need to pay a lot of transaction fees, that expense can be offset somewhat by higher block rewards.
This addresses the hoarding problem, but not the expense and difficulty of running a node. We want everyone to participate in harvesting whether or not they are paying to run a node. Owning a minimum of 10,000 XYM automatically gives you the right to harvest, so the idea is to use your earning rights on someone else’s node. This is where delegating your stake comes in.

Keep your keys in your pocket

The tricky part is that if you gave a node operator direct access to your stake, they would be able to see your private key and possibly take your funds. Symbol solves this problem by creating a proxy account with a different private key that’s used only for delegated harvesting. This allows you to delegate your harvesting rights to any available node without allowing them access to your account.

https://preview.redd.it/lhv350glzkg51.png?width=1583&format=png&auto=webp&s=f2d9af8185d027221bf7d0531a667f6ada6731d4
There’s no minimum holding time or obligations for your coins, and you can spend them just as easily as non-delegated accounts as long as your balance is 10,000 or above. If your account drops below 10,000 it will simply stop harvesting with no side effects. If the node you are working with is going down a lot or otherwise annoying you, just use the dashboard to stop delegating or switch your delegation to another node any time you like.

What’s in a block reward?

There’s one more detail: any node that you have delegated to will keep 25% of the rewards earned by your delegated stake. This is their incentive to keep their node running. If you don’t like giving them a cut, you need to run your own node. Now the good part: every block reward on the Symbol public chain will contain new tokens added for inflation, incentives for early adopters, and will also contain all transaction fees paid. 100% of transaction fees are returned to harvesters in block rewards. The system is estimated to provide about 3% to 4% returns for delegated harvesters, although rewards could be lower or higher if there are a lot of transaction fees paid.

A quick hypothetical example

Let’s say there are 1 billion XYM tokens staked on the Symbol public chain. Your account balance is 20,000. This gives you about a 1 in 50,000 chance to be the harvester of any given block. Blocks are created every 15 seconds, which adds up to 5,760 blocks per day. Your account would be expected to harvest a block reward about once every 8.7 days.

Configuration of delegated harvesting

The Symbol public chain has a requirement of 10,000 XYM minimum balance for delegated harvesting, but if you are running your own Symbol blockchain you can change it to any token and any amount you want. You can also change the inflation rate, transaction fees, and other economy settings. In a corporate private network there is usually little need for decentralization and incentives since everyone on the network will be known and trusted. In this type of private chain you can even remove transaction fees. However, since Symbol is open-source, it’s also simple to run your own public version configured with any requirements you need.

On-chain staking rewards

Staking rewards are becoming more common on exchanges, and many users are coming to expect it. That’s good because staking rewards provide more opportunity for users to earn coins and encourage new users to enter the industry. Unfortunately these custodial exchanges and wallets require users to give up their keys. It’s nearly always more secure to hold tokens off exchanges, especially if holding long term. Symbol and its original version NEM are unique in their method of allowing users to delegate their stakes and earn rewards without giving up custody and without any risk of sharing their private keys. Delegated harvesting on Symbol is likely to be the best way in the blockchain industry for users to earn on-chain staking rewards without the chore and expense of running a node.
Source
submitted by charlesgwynne to CryptoCurrencyTrading [link] [comments]

Guide for novice crypto investors

Bitcoin is a decentralized system, any user of which could control the movement of their own funds. You can use the currency to make transactions, pay for purchases, receive transfers, and exchange it for cash. For transactions, a special address is used, encrypted with a 16-character key. The buyer decodes the code to transfer bitcoins to the specified address.

Bitcoin Mining

Mining is a process that ensures the security of the BTC system, which adds new blocks to the blockchain in chronological order (new transactions). Blocks are added when the codes are decrypted, the transaction is completed, and bitcoins are transferred or exchanged.
The main cryptocurrency is generated by miners using software that solves cryptographic problems. The reward for a new block is agreed by all network participants, but usually amounts to 12.5 bitcoins. Part of the user fees for transactions also goes to reward the miners. Cryptographic tasks become more complex every year to prevent inflation (mining complexity).

Features of the transaction

  1. Anonymity. The address that Bitcoin is sent to consists of 30 characters. You can track the flow of transactions, but the address is not always associated with a real person.
  2. Security. The balance of bitcoins is fixed in a cryptographic system with a public key. Only the owner of a private key can send cryptocurrency to other addresses.
  3. Unable to cancel. It is no longer possible to cancel the transaction after the transaction has been completed.
  4. Deregulation. Everyone can use cryptocurrency.
  5. Coverage and speed. Information about the transaction is transmitted incredibly quickly, and confirmation is received within a few minutes. No one knows the buyer’s physical location.

Where to buy Bitcoin?

There are Deposit systems that use crypto-exchanges. So, to buy Bitcoin, you will first need to top up your balance, buy the digital currency itself, and then withdraw it to your Bitcoin wallet, paying a Commission for withdrawing coins. The cheapest method of buying is buying on the stock exchange. The exchange rate is as close as possible to the market rate.

BTC rate

The current exchange rate of the coin is calculated based on the average price on the largest currency exchanges. For example, you can track the exchange rate on our Bitniex exchange. The Bitcoin exchange rate is constantly changing, during the day it can change by 10% in one direction or another.

The choice of crypto-currency wallet

A cryptocurrency wallet is a place where digital currency will be stored. The most secure method of storage is using paper or electronic wallets.

TOP secure cryptocurrency wallets

These wallets are one of the most secure crypto wallets in the world:
submitted by Bitniex to Bitniex [link] [comments]

What is Delegated Harvesting and how does it work?

What is Delegated Harvesting and how does it work?

https://preview.redd.it/h0y8o02yykg51.png?width=1024&format=png&auto=webp&s=0b476a069605414fa5f970f3e7d1aebd52d4cf31

Delegated harvesting lets you passively earn block rewards on-chain

Symbol has a noteworthy economic system that allows you to passively earn coin rewards just as if you were mining. This is better than staking rewards given by exchanges since you don’t need to put your coins on an exchange and you are earning actual block rewards.
On most other blockchains you have to operate a node in order to earn block rewards. That can be expensive and difficult for casual users. With our delegated harvesting system, your rights to earn rewards are based on how many XYM coins you are holding, but Symbol lets you delegate those rights to someone else’s node so they will earn rewards on your behalf. You’ll earn on-chain block rewards even when your computer is turned off, and the rewards are sent to you instantly, the moment they are earned. It requires a minimum balance of 10,000 XYM, and you can do it easily through a dashboard. Here’s how it all works.

Let’s chain some blocks

A quick block reward review: the process of adding transactions and other data to a blockchain is called creating blocks, and it’s what every computer in the network is trying to do. Blockchains pay a coin reward to the first account to create a new accepted block. The reward is called a block reward. If new coins are created to pay the block reward, it’s called mining. Symbol doesn’t create new coins for block rewards so it uses the term harvesting instead, but it’s nearly the same as mining.

We want proof

What’s the point of all this mining and harvesting? The problem is that anyone can join the network anonymously, so we would expect cheaters sending false data so they can spend the same coins twice or make other fake transactions. If we don’t know who is trustworthy, how do we choose who gets “write access” to account balances?
Bitcoin and many early protocols use a Proof of Work (POW) system. In POW every computer in the network is processing calculations as fast as possible until someone gets the right number. Whoever gets it first creates the next block. POW is effective at discouraging cheaters because it’s expensive to buy and power all the machines needed to mine profitably. Anyone who could make such a mining investment won’t want to risk being rejected.

Not that proof, different proof

The biggest drawback of POW is its insatiable consumption of electricity. It’s estimated that bitcoin alone consumes a quarter percent of global energy production. Unfortunately, that’s not a side effect, it’s the point; the more expensive it is to create blocks, the harder it is for bad actors to take over. In the early days users could mine POW coins on a laptop, but today it’s so expensive that only large industrial operators are competitive.
The most popular alternative system is Proof of Stake. POS is well-tested and has proven secure at large scale, and best of all, it requires no special energy usage. In a POS system, the protocol chooses an account at random to be the next block creator. However, an account’s chance of being chosen depends on the number of coins it holds. So users with the highest account balances have the highest chances of creating new blocks. This is a good way to ensure security, but one downside is that it encourages hoarding.

Proof of stake plus

Symbol uses a Proof of Stake Plus (POS+) system, which adds a few weighting factors on top of Proof of Stake to incentivize a healthier economic system. For example, POS+ gives an advantage to accounts that have many recent transactions in order to encourage network usage. So if you need to pay a lot of transaction fees, that expense can be offset somewhat by higher block rewards.
This addresses the hoarding problem, but not the expense and difficulty of running a node. We want everyone to participate in harvesting whether or not they are paying to run a node. Owning a minimum of 10,000 XYM automatically gives you the right to harvest, so the idea is to use your earning rights on someone else’s node. This is where delegating your stake comes in.

Keep your keys in your pocket

The tricky part is that if you gave a node operator direct access to your stake, they would be able to see your private key and possibly take your funds. Symbol solves this problem by creating a proxy account with a different private key that’s used only for delegated harvesting. This allows you to delegate your harvesting rights to any available node without allowing them access to your account.

https://preview.redd.it/tejgkdv1zkg51.png?width=1583&format=png&auto=webp&s=c41b9f431ce63a196dcbc0297a898233b530a297
There’s no minimum holding time or obligations for your coins, and you can spend them just as easily as non-delegated accounts as long as your balance is 10,000 or above. If your account drops below 10,000 it will simply stop harvesting with no side effects. If the node you are working with is going down a lot or otherwise annoying you, just use the dashboard to stop delegating or switch your delegation to another node any time you like.

What’s in a block reward?

There’s one more detail: any node that you have delegated to will keep 25% of the rewards earned by your delegated stake. This is their incentive to keep their node running. If you don’t like giving them a cut, you need to run your own node. Now the good part: every block reward on the Symbol public chain will contain new tokens added for inflation, incentives for early adopters, and will also contain all transaction fees paid. 100% of transaction fees are returned to harvesters in block rewards. The system is estimated to provide about 3% to 4% returns for delegated harvesters, although rewards could be lower or higher if there are a lot of transaction fees paid.

A quick hypothetical example

Let’s say there are 1 billion XYM tokens staked on the Symbol public chain. Your account balance is 20,000. This gives you about a 1 in 50,000 chance to be the harvester of any given block. Blocks are created every 15 seconds, which adds up to 5,760 blocks per day. Your account would be expected to harvest a block reward about once every 8.7 days.

Configuration of delegated harvesting

The Symbol public chain has a requirement of 10,000 XYM minimum balance for delegated harvesting, but if you are running your own Symbol blockchain you can change it to any token and any amount you want. You can also change the inflation rate, transaction fees, and other economy settings. In a corporate private network there is usually little need for decentralization and incentives since everyone on the network will be known and trusted. In this type of private chain you can even remove transaction fees. However, since Symbol is open-source, it’s also simple to run your own public version configured with any requirements you need.

On-chain staking rewards

Staking rewards are becoming more common on exchanges, and many users are coming to expect it. That’s good because staking rewards provide more opportunity for users to earn coins and encourage new users to enter the industry. Unfortunately these custodial exchanges and wallets require users to give up their keys. It’s nearly always more secure to hold tokens off exchanges, especially if holding long term. Symbol and its original version NEM are unique in their method of allowing users to delegate their stakes and earn rewards without giving up custody and without any risk of sharing their private keys. Delegated harvesting on Symbol is likely to be the best way in the blockchain industry for users to earn on-chain staking rewards without the chore and expense of running a node.

Source
submitted by charlesgwynne to CryptoCurrencyTrading [link] [comments]

Find the seed hidden in this album and win 0.05 BTC! It's still unsolved!

I have hidden the seed to a wallet containing ~0.05 BTC inside of my latest album. (It's not much, I am a robot of simple means)
Solve it then sweep the keys!


'Bifurcations' by Logic Beach is a Lo-Fi, Synth-Glitch, experimental project I've put together to celebrate the halving and to have a bit of fun. You will need the Lossless versions of the songs to solve this thing. (download the .wav files).
https://preview.redd.it/fvtegar2xdy41.png?width=2486&format=png&auto=webp&s=f02aef55825dccb854c4826dd00aa5a17d70c60e
Also, check out the Video.
The album is free on BandCamp (just enter $0.00), however if you'd like to make the contest more interesting, I am putting all proceeds into the contest wallet.
If you sweep it make a post here detailing how you solved it! or remain anonymous... I'll post the solution when it's solved.
Adress: bc1qj7467e7r5pdfpypm03wyvguupdrld0ul2gcutg


After due consideration (and constant requests), I have decided to extend this contest until June 21st.

Here is a recap of what is known with some new info:
submitted by logic_beach to Bitcoin [link] [comments]

The Privacy Coin Guide Part 1

As interest picks up in crypto again, I want to share this post I made on privacy coins again to just give the basics of their evolution. This is only part 1, and parts 2 and 3 are not available in this format, but this part is informative and basic.
If you’re looking for a quick and easy way to assess what the best privacy coin in the current space is, which has the best features, or which is most likely to give high returns, then this is not that guide. My goal is to give you the power to make your own decisions, to clearly state my biases, and educate. I really wanted to understand this niche of the crypto-space due to my background and current loyalties[1], and grasp the nuances of the features, origins and timelines of technologies used in privacy coins, while not being anything close to a developer myself. This is going to be a 3-part series, starting with an overview and basic review of the technology, then looking at its implications, and ending with why I like a specific project. It might be mildly interesting or delightfully educational. Cryptocurrencies are young and existing privacy coins are deploying technology that is a work in progress. This series assumes a basic understanding of how blockchains work, specifically as used in cryptocurrencies. If you don’t have that understanding, might I suggest that you get it? [2],[3],[4] Because cryptocurrencies have a long way to go before reaching their end-game: when the world relies on the technology without understanding it. So, shall we do a deep dive into the privacy coin space?

FIRST THERE WAS BITCOIN

Cryptocurrencies allow you to tokenize value and track its exchange between hands over time, with transaction information verified by a distributed network of users. The most famous version of a cryptocurrency in use is Bitcoin, defined as peer-to-peer electronic cash. [5] Posted anonymously in 2008, the whitepaper seemed to be in direct response to the global financial meltdown and public distrust of the conventional banking and financing systems. Although cryptographic techniques are used in Bitcoin to ensure that (i) only the owner of a specific wallet has the authority to spend funds from that wallet, (ii) the public address is linked but cannot be traced by a third party to the private address (iii) the information is stored via cryptographic hashing in a merkle tree structure to ensure data integrity, the actual transaction information is publicly visible on the blockchain and can be traced back to the individual through chain analysis.[6] This has raised fears of possible financial censorship or the metaphorical tainting of money due to its origination point, as demonstrated in the Silk Road marketplace disaster.[7] This can happen because fiat money is usually exchanged for cryptocurrency at some point, as crypto-enthusiasts are born in the real world and inevitably cash out. There are already chain analysis firms and software that are increasingly efficient at tracking transactions on the Bitcoin blockchain.[8] This lack of privacy is one of the limitations of Bitcoin that has resulted in the creation of altcoins that experiment with the different features a cryptocurrency can have. Privacy coins are figuring out how to introduce privacy in addition to the payment network. The goal is to make the cryptocurrency fungible, each unit able to be exchanged for equal value without knowledge of its transaction history – like cash, while being publicly verifiable on a decentralized network. In other words, anyone can add the math up without being able to see the full details. Some privacy solutions and protocols have popped up as a result:

CRYPTONOTE – RING SIGNATURES AND STEALTH ADDRESSES

Used in: Monero and Particl as its successor RING-CT, Bytecoin
In December 2012, CryptoNote introduced the use of ring signatures and stealth addresses (along with other notable features such as its own codebase) to improve cryptocurrency privacy.[9] An updated CryptoNote version 2 came in October 2013 [10](though there is some dispute over this timeline [11]), also authored under the name Nicolas van Saberhagen. Ring signatures hide sender information by having the sender sign a transaction using a signature that could belong to multiple users. This makes a transaction untraceable. Stealth addresses allow a receiver to give a single address which generates a different public address for funds to be received at each time funds are sent to it. That makes a transaction unlinkable. In terms of privacy, CryptoNote gave us a protocol for untraceable and unlinkable transactions. The first implementation of CryptoNote technology was Bytecoin in March 2014 (timeline disputed [12]), which spawned many children (forks) in subsequent years, a notable example being Monero, based on CryptoNote v2 in April 2014.
RING SIGNATURES and STEALTH ADDRESSES

PROS

– Provides sender and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume
-Does not hide transaction information if not combined with another protocol.

COINJOIN

Used in: Dash
Bitcoin developer Gregory Maxwell proposed a set of solutions to bring privacy to Bitcoin and cryptocurrencies, the first being CoinJoin (January 28 – Aug 22, 2013).[13],[14] CoinJoin (sometimes called CoinSwap) allows multiple users to combine their transactions into a single transaction, by receiving inputs from multiple users, and then sending their outputs to the multiple users, irrespective of who in the group the inputs came from. So, the receiver will get whatever output amount they were supposed to, but it cannot be directly traced to its origination input. Similar proposals include Coinshuffle in 2014 and Tumblebit in 2016, building on CoinJoin but not terribly popular [15],[16]. They fixed the need for a trusted third party to ‘mix’ the transactions. There are CoinJoin implementations that are being actively worked on but are not the most popular privacy solutions of today. A notable coin that uses CoinJoin technology is Dash, launched in January 2014, with masternodes in place of a trusted party.
COINJOIN

PROS

– Provides sender and receiver privacy
– Easy to implement on any cryptocurrency
– Lightweight
– Greater scalability with bulletproofs
– Mature technology

CONS

– Least anonymous privacy solution. Transaction amounts can be calculated
– Even without third-party mixer, depends on wealth centralization of masternodes

ZEROCOIN

Used in: Zcoin, PIVX
In May 2013, the Zerocoin protocol was introduced by John Hopkins University professor Matthew D. Green and his graduate students Ian Miers and Christina Garman.[17] In response to the need for use of a third party to do CoinJoin, the Zerocoin proposal allowed for a coin to be destroyed and remade in order to erase its history whenever it is spent. Zero-knowledge cryptography and zero-knowledge proofs are used to prove that the new coins for spending are being appropriately made. A zero-knowledge proof allows one party to prove to another that they know specific information, without revealing any information about it, other than the fact that they know it. Zerocoin was not accepted by the Bitcoin community as an implementation to be added to Bitcoin, so a new cryptocurrency had to be formed. Zcoin was the first cryptocurrency to implement the Zerocoin protocol in 2016. [18]
ZEROCOIN

PROS

– Provides sender and receiver privacy
– Supply can be audited
– Relatively mature technology
– Does not require a third-party

CONS

– Requires trusted setup (May not be required with Sigma protocol)
– Large proof sizes (not lightweight)
– Does not provide full privacy for transaction amounts

ZEROCASH

Used in: Zcash, Horizen, Komodo, Zclassic, Bitcoin Private
In May 2014, the current successor to the Zerocoin protocol, Zerocash, was created, also by Matthew Green and others (Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian Miers, Eran Tromer, Madars Virza).[19] It improved upon the Zerocoin concept by taking advantage of zero-knowledge proofs called zk-snarks (zero knowledge succinct non-interactive arguments of knowledge). Unlike Zerocoin, which hid coin origins and payment history, Zerocash was faster, with smaller transaction sizes, and hides transaction information on the sender, receiver and amount. Zcash is the first cryptocurrency to implement the Zerocash protocol in 2016. [20]
ZEROCASH

PROS

– Provides full anonymity. Sender, receiver and amount hidden.
– Privacy can be default?
– Fast due to small proof sizes.
– Payment amount can be optionally disclosed for auditing
– Does not require any third-party

CONS

– Requires trusted setup. (May be improved with zt-starks technology)
– Supply cannot be audited. And coins can potentially be forged without proper implementation.
– Private transactions computationally intensive (improved with Sapling upgrade)

CONFIDENTIAL TRANSACTIONS

Used in: Monero and Particl with Ring Signatures as RING-CT
The next proposal from Maxwell was that of confidential transactions, proposed in June 2015 as part of the Sidechain Elements project from Blockstream, where Maxwell was Chief Technical Officer.[21],[22] It proposed to hide the transaction amount and asset type (e.g. deposits, currencies, shares), so that only the sender and receiver are aware of the amount, unless they choose to make the amount public. It uses homomorphic encryption[23] to encrypt the inputs and outputs by using blinding factors and a kind of ring signature in a commitment scheme, so the amount can be ‘committed’ to, without the amount actually being known. I’m terribly sorry if you now have the urge to go and research exactly what that means. The takeaway is that the transaction amount can be hidden from outsiders while being verifiable.
CONFIDENTIAL TRANSACTIONS

PROS

– Hides transaction amounts
– Privacy can be default
– Mature technology
– Does not require any third-party

CONS

– Only provides transaction amount privacy when used alone

RING-CT

Used in: Monero, Particl
Then came Ring Confidential transactions, proposed by Shen-Noether of Monero Research Labs in October 2015.[24] RingCT combines the use of ring signatures for hiding sender information, with the use of confidential transactions (which also uses ring signatures) for hiding amounts. The proposal described a new type of ring signature, A Multi-layered Linkable Spontaneous Anonymous Group signature which “allows for hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation”.[25] RingCT was implemented in Monero in January 2017 and made mandatory after September 2017.
RING -CONFIDENTIAL TRANSACTIONS

PROS

– Provides full anonymity. Hides transaction amounts and receiver privacy
– Privacy can be default
– Mature technology
– Greater scalability with bulletproofs
– Does not require any third-party

CONS

– Privacy not very effective without high volume

MIMBLEWIMBLE

Used in: Grin
Mimblewimble was proposed in July 2016 by pseudonymous contributor Tom Elvis Jedusorand further developed in October 2016 by Andrew Poelstra.[26],[27] Mimblewimble is a “privacy and fungibility focused cryptocoin transaction structure proposal”.[28] The key words are transaction structure proposal, so the way the blockchain is built is different, in order to accommodate privacy and fungibility features. Mimblewimble uses the concept of Confidential transactions to keep amounts hidden, looks at private keys and transaction information to prove ownership of funds rather than using addresses, and bundles transactions together instead of listing them separately on the blockchain. It also introduces a novel method of pruning the blockchain. Grin is a cryptocurrency in development that is applying Mimblewimble. Mimblewimble is early in development and you can understand it more here [29].
MIMBLEWIMBLE

PROS

– Hides transaction amounts and receiver privacy
– Privacy is on by default
– Lightweight
– No public addresses?

CONS

– Privacy not very effective without high volume
– Sender and receiver must both be online
– Relatively new technology

ZEXE

Fresh off the minds of brilliant cryptographers (Sean Bowe, Alessandro Chiesa, Matthew Green, Ian Miers, Pratyush Mishra, Howard Wu), in October 2018 Zexe proposed a new cryptographic primitive called ‘decentralized private computation.[30] It allows users of a decentralized ledger to “execute offline computations that result in transactions”[31], but also keeps transaction amounts hidden and allows transaction validation to happen at any time regardless of computations being done online. This can have far reaching implications for privacy coins in the future. Consider cases where transactions need to be automatic and private, without both parties being present.

NETWORK PRIVACY

Privacy technologies that look at network privacy as nodes communicate with each other on the network are important considerations, rather than just looking at privacy on the blockchain itself. Anonymous layers encrypt and/or reroute data as it moves among peers, so it is not obvious who they originate from on the network. They are used to protect against surveillance or censorship from ISPs and governments. The Invisible Internet Project (I2P) is an anonymous network layer that uses end to end encryption for peers on a network to communicate with each other.[32] Its history dates back to 2003. Kovri is a Monero created implementation of I2P.[33] The Onion Router (Tor) is another anonymity layer [34]) that Verge is a privacy cryptocurrency that uses. But its historical link to the US government may be is concerning to some[35]. Dandelion transaction relay is also an upcoming Bitcoin improvement proposal (BIP) that scrambles IP data that will provide network privacy for Bitcoin as transaction and other information is transmitted.[36],[37],[38]

UPCOMING

Monero completed bulletproofs protocol updates that reduce RINGCT transaction sizes and thus transaction fee costs. (Bulletproofs are a replacement for range proofs used in confidential transactions that aid in encrypting inputs and outputs by making sure they add to zero).
Sigma Protocol – being actively researched by Zcoin team as of 2018 to replace Zerocoin protocol so that a trusted setup is not required.[39] There is a possible replacement for zk-snarks, called zk-starks, another form of zero-knowledge proof technology, that may make a trusted set-up unnecessary for zero-knowledege proof coins.[40]

PART 1 CONCLUSION OF THE PRIVACY COIN GUIDE ON THE TECHNOLOGY BEHIND PRIVACY COINS

Although Bitcoin is still a groundbreaking technology that gives us a trust-less transaction system, it has failed to live up to its expectations of privacy. Over time, new privacy technologies have arrived and are arriving with innovative and exciting solutions for Bitcoin’s lack of fungibility. It is important to note that these technologies are built on prior research and application, but we are considering their use in cryptocurrencies. Protocols are proposed based on cryptographic concepts that show how they would work, and then developers actually implement them. Please note that I did not include the possibility of improper implementation as a disadvantage, and the advantages assume that the technical development is well done. A very important point is that coins can also adapt new privacy technologies as their merits become obvious, even as they start with a specific privacy protocol. Furthermore, I am, unfortunately, positive that this is not an exhaustive overview and I am only covering publicized solutions. Next, we’ll talk more about the pros and cons and give an idea of how the coins can be compared.

There's a video version that can be watched, and you can find out how to get the second two parts if you want on my website (video link on the page): https://cryptoramble.com/guide-on-privacy-coins/
submitted by CryptoRamble to ethereum [link] [comments]

Blockchain Oracles: Connecting The Worlds. Part 1

Blockchain Oracles: Connecting The Worlds. Part 1
Many blockchain-based cryptocurrencies, and most importantly, Bitcoin and Ether, have become notorious for transaction failures, primarily due to scalability issues. And that’s pretty much all when we talk about plain-vanilla Bitcoin and its copycats like Litecoin or its clones like Bitcoin Cash. But with blockchains like Ethereum, which expand into the far reaches of a new territory known as smart contracts and decentralized applications (dApps), this is only the tip of the iceberg. In other words, only a beginning.
by StealthEX
What hides below the surface, and thus rarely emerges in public discussions about cryptocurrencies, is the closed-off nature of smart contract-enabled blockchains. To be ever so slightly useful, smart contracts and dApps running on top of them must have access to real-world data which is immensely off-chain, while they are permanently stuck within the constraints of their tiny on-chain world. So how do they escape out of the straightjackets put on them by their restrictive environments? That’s where blockchain oracles come into play.

And what role do they play, exactly?

Enabling smart contracts and dApps to interact with the outside world opens both endless possibilities and a big can of worms. Now that the entire world is made available to a smart contract, it can take an input from an external source of information, make some calculations that require this data or arrive at a decision based on it, and then get down to some work like moving contractually-locked funds from Alice to Bob. Or from Bob to Alice, depending on the verdict. Sounds cool, huh?
But here’s the catch. As transactions on a smart contract blockchain are supposed to be irreversible (while the blockchain itself immutable), it can lead to catastrophic consequences if the input has been tampered with or just happens to be incorrect for some arbitrary reason, not necessarily ill in intent. This fundamental problem of internalizing the outside world for on-chain execution of contractual agreements on smart contract blockchains has become most apparent with the advent of Decentralized Finance (or simply DeFi) a few years ago.
DeFi is a promising new kid on the blockchain arena. It hinges on the idea of decentralizing most financial services that we use today, but without a bank or other financial institution in the middle. It is envisioned that with the help of smart contracts and dApps using them we will be able to lend money and borrow with collateralized digital assets, offer and receive banking services including mortgages and insurance, buy and sell digital assets safely on decentralized marketplaces, as well as issue stablecoins and user tokens. Pretty impressive list, isn’t it?
However, for all of this to work properly we need trustless and reliable sources of information outside the blockchain that provide inputs to dApps running on that blockchain. DeFi requires trustless data feeds about the state of the world to ensure correct on-chain execution of smart contracts powering dApps. But how do we get these and manage to retrieve external data that cannot be verified through cryptography but that we can still trust and rely on? Entities that provide off-chain data for on-chain consumption are called blockchain oracles. Technically, an oracle is an interface through which a smart contract queries and retrieves information from an external source of truth.
As it turns out, DeFi is not the only field of application where blockchain oracles turn up quite handy, but since their use is most indispensable there, it makes sense to delve deeper into this area.

Oracles of DeFi

Today, the space is crowded with a plethora of players that aim at providing DeFi with so much needed real-time market information, for example, digital asset prices. There are many forms of oracles, but the most important distinction is drawn between centralized and decentralized ones. As DeFi is supposed to be a trustless, decentralized environment, the decentralized oracles are the flesh and blood of this ecosystem, so we are mostly concerned here with this type of blockchain oracles (just in case, there are centralized oracles too).
DeFi platforms deploy various oracle solutions in their pursuit of retrieving real-time information about the market price of digital assets. The most well known among these is the MakerDAO lending platform which uses an oracle module called the Medianizer to obtain the real-time exchange prices. Technically, it is a smart contract that accepts price updates from independent data feeds, discards false ones along with outliers, and calculates the median price (hence the name) to be used as a reference for other smart contracts.
Another blockchain-based borrowing and lending platform, Compound, uses administrators who are holders of the platform’s native COMP token. They manage and control price feeds through aggregator contracts they create. Authorized sources of information called reporters are then queried for reference prices by aggregators which verify the data and calculate median values to be used internally. A somewhat similar approach is utilized by AmpleForth, a developer of a stablecoin with elastic supply, and Synthetix, a platform for creating crypto-backed synthetic versions of assets like commodities, stocks, indices, cryptocurrencies, and fiat.
On the other hand, there are a few blockchain projects that provide decentralized oracle services to other platforms and blockchains, mostly Ethereum and EOS. Such projects as Provable (formerly Oraclize), ChainLink, Band Protocol, Tellor aim at providing blockchain-agnostic protocols that allow query and retrieval of virtually any type of reference data in a standardized manner. As authenticity and veracity of the information retrieved is of crucial importance to its consumers, these projects run their own decentralized blockchains whose primary task is to validate data feeds and check that the information received is authentic and has not been tampered with.
Realistically, these special-purpose blockchains come closest to the implementation of a blockchain oracle idea in a truly decentralized and trustless way.

To be continued

In the second part of this two-part article we will look into other uses of blockchain oracles beyond DeFi, and talk about potential problems and pitfalls of this nascent technology, as well as approaches used to deal with them. Stay with us and remain in the know!
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example COMP to DAI.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected]).
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/08/12/blockchain-oracles-connecting-the-worlds-part-1/
submitted by Stealthex_io to StealthEX [link] [comments]

Bitcoin Mining Roi Calculator 2017 with Genesis Mining ... How to Calculate Bitcoin Transaction Size EU to crack down on Bitcoin, seeks de-anonymizing exchanges citing terror threat Is Bitcoin Anonymous? Arvind Narayanan  Princeton University  Real World Cryptography Workshop How To Earn Bitcoin 2019! ($BTC for FREE 🍭) - YouTube

Mastercard has filed a new patent for a technique of anonymizing transactions on a blockchain, in line with a recent application ‘revealed‘ by the USPTO [US Patent and Trademark Office]. The ‘patent‘ files focuses that ‘the use of one or a more go-between addresses to obscure the supply and destination of funds during a blockchain transaction’ are often employed in order to ... 2. 3 Easy Methods to Buy Bitcoin Anonymously. Note: In June 2019, the popular website LocalBitcoins removed its option for in person cash trades. Method 1 – Paxful. If you’re looking to buy Bitcoins anonymously then the easiest way would be to buy Bitcoins in cash and in person. Use Paxful to find someone who is willing to sell Bitcoins for cash next to your physical location. Cryptalker is the perfect place to get all useful information about buying bitcoins and investing cryptocurrency. Bytecoin, the allegedly shady blockchain that Monero forked from, might still be a solid option for investing your hash power. However, like any pre-mining considerations you may make, Bytecoin mining comes down to the numbers. A Quick Recap. Bytecoin was the first blockchain on the scene to natively launch with Cryptonote, a pillar to Bytecoin’s anonymizing technology. An anonymous group that met on 4Chan has announced it will contribute $75 million in Bitcoins to an “Unknown Fund” for the development of anonymizing technologies, including cryptocurrencies: “The anonymous organisation Unknown Fund has announced that it intends to invest and donate $75 million in bitcoin to startups which directly or indirectly support the idea […]

[index] [13340] [18335] [26139] [34303] [1208] [10631] [10035] [2024] [28696] [21862]

Bitcoin Mining Roi Calculator 2017 with Genesis Mining ...

Friday, July 22, 2016: 2:00 pm (Noether): Bitcoin is an established virtual currency well known for enabling affordable and efficient transfers of money between individuals and entities. With its ... RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday Like us on Facebook http://www.facebook.com/RTn... If you use responsible risk management, you won't be stressed out if a trade doesn't go your way, and you won't feel the need to stay glued to your computer ... Please use the code WoPJIK and get 3% discount every time you purchase hashpower to mine Bitcoin, Ethereum, ZCASH, Litecoin and a ton of other Cryptocurrenci... SUBSCRIBE AND PARTICIPATE IN MY GIVE AWA'S THANK YOU FOR WATCHING https://youtu.be/nQJrgYhQpLg ----- 👇👇👇👇👇👇👇👇👇👇👇👇 https://youtu.be ...

#