7 Best ASIC Miners 2020: Tried and Tested With Reviews

Mining: Weird Time to Start, a Good Time to Think

Mining: Weird Time to Start, a Good Time to Think
Well, it’s supposed to be an optimistic article about most promising mining cryptos, but then something happened. No one was too naive to believe that the events unfolded around the COVID-19 pandemic will not affect global markets, but the turbulence that occurred was very significant and, what is most sad, it is still very difficult to say how soon the situation will stabilize.
https://preview.redd.it/9xxheofluzp41.png?width=1024&format=png&auto=webp&s=cd8ca033faddf57ea041e82ceadee1037b8587f1
Many people were already bothered that crypto mining is becoming less profitable in 2020 and will be meaningless very soon, but even though big companies having bigger resources took over most of the industry, cryptocurrency mining using video cards remains available to common users and still has potential.
Despite, the volatility of the cryptocurrency market hashrate of the Bitcoin blockchain network yet remains almost at the same level and that is a quite positive sign. At the moment, the most reliable option seems to be to leave mining to large ASIC-farms and return when the stock panic subsides and the prospects will be clearer.
Although Bitcoin is still the most popular cryptocurrency on the market, every year the complexity of operations necessary for its production increases, and rewards fall (after halving in May 2020, we will talk about 6.25 BTC per block). For mining many altcoins, the threshold for entry is much lower, therefore it makes sense to look for a more profitable option among them.
But first, let’s try to understand a little what conditions we need for profitable mining.
There are several crucial aspects that determine how profitable mining will be. These are such obvious things as the price of the currency or the amount of reward for the generated block.
And this is the reason it is now very difficult to calculate the possible income. One way or another, the market price of altcoins depends on the position of bitcoin, which is experiencing bad times. For several months, the world of crypto mining has been preparing for the May halving, because the reduced supply led to a significant increase in prices. This time should not have been an exception, but now when bitcoin does not rise above $5500 and risks falling below $3500, we can only make vague guesses about its potential price in May. Many analysts tend to believe that closer to the middle of April, the negative effect of the crisis should be reduced, and positive expectations from halving and a large amount of cash from investors should have a positive impact on the price of bitcoin. Altcoins, as a rule, repeat the dynamics of the first cryptocurrency and will also continue their growth to historical highs in the year’s future.
Next, you should also pay attention to the complexity of mining because it affects the time and energy spent on generating the block. Do not forget about the cost of electricity in your region, as one extra-large bill can negate all your efforts to earn money on currency mining.
Do not forget about expenses on a mining rig and it’s amortisation.
In addition to the above, you should find out how practical the chosen currency is: whether it can be exchanged for fiat or more popular coins, what fees are charged by exchanges that work with it, and what reputation it has in general.
In order to avoid unpleasant mistakes, it is easier and more reliable to check the possible profit in one of the many calculators.

Best altcoins to mine in 2020

Monero is the currency with the highest anonymity rates, which stays attractive to many users and remains one of the strongest altcoins. The specific proof-of-work hashing algorithm does not allow ASIC-miners, so it is relatively easy to mine using personal computer’s processors and graphics cards. AMD graphic cards are preferable for this task, but NVidia suits as well. The current block reward is 2.47 XMR.
Litecoin is one of the oldest Bitcoin forks, but unlike it uses a different “Script” PoW algorithm which allows less powerful GPUs to mine coins. Litecoin is on the most popular, and successful Bitcoin forks and considered one of the most stable cryptocurrencies. Block mining reward is 12.5 LTC.
Ravencoin is another Bitcoin hardfork, and like Monero’s its X16R algorithm is practically unavailable for ASIC machines. Raven keeps gaining popularity for many reasons – it has faster block time, higher mining reward (5,000 RVN at the moment) and secure messaging system.
Dogecoin is not a joke anymore. Hard to believe, but this currency once made for fun, became one of the most valuable ones. Like Litecoin it uses Scrypt algorithm and great for mining with GPUs.
One more Bitcoin fork Bitcoin Gold was made specifically to kick out ASICs and clear the road for GPUs. It may not be the fastest-growing currency, but it is definitely one of the most stable.
That’s all for today. Stay safe, cause health is our most important asset.
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])
submitted by Stealthex_io to StealthEX [link] [comments]

Time to discuss the elephant in the room. Nicehash 51% Attacks.

While I've argued for ProgPoW because I'm not a fan of ASIC manufactures because of their malicious business practices, I think we all know the real problem for PoW security, Hashrate Rental sites. Let's go through a short-list of coins that are listed on Nicehash, where hashpower could be bought and then executed a 51% attack.
Monacoin 51%
BitcoinGold 51%
EthereumClassic 51%
Vertcoin 51%
ZenCash(Now Horizen) 51%
BitcoinPrivate 51% (Ethical Hack)

Nicehash has been the #1 to go to "sell" hashpower for whatever coin they support for BTC and other rental services such as miningrigrental. While we cannot prove that this attacks were used by buying hashpower on nicehash, a ethical hacker Geocold lived streamed how easy it was to attack PoW coin BTCP. "using a couple of hundred dollars’ worth of rented hashpower he’d purchased from Nicehash with BTC" (bitcoin.com). We can assume then that other 51% attacks all follow this method.

Step 1. Buy more Hashpower than the current network using rental services
Step 2. moves coins on the true network to other addresses, makes deposits, then withdraws them to a safe addresses
Step 3. broadcast the untruthful chain to the network
Step 4. this reverts the truthful network.
Step 5. Profit.
Shockingly, several crypto-currencies not only were cheap to attack but also had plenty of hash rate for sale on NiceHash with which such an attack could take place. When 51% attacks were considered in the past, most calculations included the cost of hardware, electricity, and maintenance. But this new “rent-a-attack” method is proving dangerous for smaller networks. (ccn.com)
This is what happened to ETC recently. Few people who were using nicehash services commented that they noticed a pay-bump mining ETH-HASH.

One PoW altcoin team has set up a script to constantly monitor their hashrate. In the event of a spike of over 10%, they will be automatically notified. Should the newly added hashrate emanate from an unknown pool, or be in danger of tipping an existing pool over 50%, they have a large quantity BTC on standby with Nicehash ready to purchase their own firepower to counter the attack (bitcoin.com)
Again it shows the only way that people counter this is to over-bid/buy more hashrate.

While I understand PoS doesn't suffer from these type of attacks. However I find it unreasonable to say PoW is flawed because 51% attacks. Hashrental services we not envisioned by Satoshi's PoW. Any actual mining actors not using hash rentals would need a sizable amount of resources to perform a 51% and double-spend even on small cap coins. Nicehash takes your money and doesn't care.

The elephant Crypto needs to deal with it shutting off nicehash and rental services. After the nicehash hack I know I saw a sizable increase in profits because difficulty dropped on so many coins.

IMHO Nicehash needs to turn-off purchasing hashrate and instead turn to "auto-covert" where they mine the coin that's profitable that day and turn into bitcoin for the user. We wouldn't have the chance of 51% attacks.
submitted by Xazax310 to gpumining [link] [comments]

Time to discuss the elephant in the room. Nicehash 51% Attacks.

While I've argued for ProgPoW because I'm not a fan of ASIC manufactures because of their malicious business practices, I think we all know the real problem for PoW security, Hashrate Rental sites. Let's go through a short-list of coins that are listed on Nicehash, where hashpower could be bought and then executed a 51% attack.
Monacoin 51%
BitcoinGold 51%
EthereumClassic 51%
Vertcoin 51%
ZenCash(Now Horizen) 51%
BitcoinPrivate 51% (Ethical Hack)
Nicehash has been the #1 to go to "sell" hashpower for whatever coin they support for BTC and other rental services such as miningrigrental. While we cannot prove that this attacks were used by buying hashpower on nicehash, a ethical hacker Geocold lived streamed how easy it was to attack PoW coin BTCP. "using a couple of hundred dollars’ worth of rented hashpower he’d purchased from Nicehash with BTC" (bitcoin.com). We can assume then that other 51% attacks all follow this method.
Step 1. Buy more Hashpower than the current network using rental services
Step 2. moves coins on the true network to other addresses, makes deposits, then withdraws them to a safe addresses
Step 3. broadcast the untruthful chain to the network
Step 4. this reverts the truthful network.
Step 5. Profit.
Shockingly, several crypto-currencies not only were cheap to attack but also had plenty of hash rate for sale on NiceHash with which such an attack could take place. When 51% attacks were considered in the past, most calculations included the cost of hardware, electricity, and maintenance. But this new “rent-a-attack” method is proving dangerous for smaller networks. (ccn.com)
This is what happened to ETC recently. Few people who were using nicehash services commented that they noticed a pay-bump mining ETH-HASH.
One PoW altcoin team has set up a script to constantly monitor their hashrate. In the event of a spike of over 10%, they will be automatically notified. Should the newly added hashrate emanate from an unknown pool, or be in danger of tipping an existing pool over 50%, they have a large quantity BTC on standby with Nicehash ready to purchase their own firepower to counter the attack (bitcoin.com)
Again it shows the only way that people counter this is to over-bid/buy more hashrate.
While I understand PoS doesn't suffer from these type of attacks. However I find it unreasonable to say PoW is flawed because 51% attacks. Hashrental services we not envisioned by Satoshi's PoW. Any actual mining actors not using hash rentals would need a sizable amount of resources to perform a 51% and double-spend even on small cap coins. Nicehash takes your money and doesn't care.
The elephant Crypto needs to deal with it shutting off nicehash and rental services. After the nicehash hack I know I saw a sizable increase in profits because difficulty dropped on so many coins.
IMHO Nicehash needs to turn-off purchasing hashrate and instead turn to "auto-covert" where they mine the coin that's profitable that day and turn into bitcoin for the user. We wouldn't have the chance of 51% attacks.
submitted by Xazax310 to MoneroMining [link] [comments]

What's the difference between Litcoin and Bitcoin?

In 2009, Satoshi Nakamoto launched bitcoin as the world’s first cryptocurrency. The code is open source, which means it can be modified by anyone and freely used for other projects. Many cryptocurrencies have launched with modified versions of this code, with varying levels of success.
Litecoin was announced in 2011 with the goal of being the ‘silver’ to bitcoin’s ‘gold’. At the time of writing, Litecoin has the highest market cap of any mined cryptocurrency, after bitcoin.
Here’s our guide to show you the crucial difference between bitcoin and litecoin.
Mining differences
Just like bitcoin, litecoin is a crytocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee. The motivation behind its creation was to improve upon bitcoin. The key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin’s 10 minutes. Charles Lee now works for Coinbase, one of the most popular online bitcoin wallets.
ASIC Mining
For miners and enthusiasts though, litecoin holds a much more important difference to bitcoin, and that is its different proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. It is this characteristic that has given rise to the intense race in ASIC technology, and has caused an exponential increase in bitcoin’s difficulty level.
Litecoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as ‘script’. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. As a result, scrypt is known as a ‘memory hard problem‘.
The consequences of using scrypt mean that there has not been as much of an ‘arms race’ in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.
GPU mining
To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20,000 Terra Hashes per second, while litecoin is just 95,642 Mega Hashes per second.
For the time being, ‘state of the art’ litecoin mining rigs come in the form of custom PCs fitted with multiple graphics cards (ie: GPUs). These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.
There was a time when people could use GPU mining for bitcoin, but ASICs have made this method not worth the effort.
If you are a developer, cryptocurrency investor, or just a curious person and want to invest some time to learn about cryptocurrency visit BTCNEWZ
Transaction differences
The main difference is that litecoin can confirm transactions must faster than bitcoin. The implications of that are as follows:
Transaction speed (or faster block time) and confirmation speed are often touted as moot points by many involved in bitcoin, as most merchants would allow zero-confirmation transactions for most purchases. It is necessary to bear in mind that a transaction is instant, it is just confirmed by the network as it propagates.
submitted by alifkhalil469 to BtcNewz [link] [comments]

Time to discuss the elephant in the room. Nicehash 51% Attacks.

While I've argued for ProgPoW because I'm not a fan of ASIC manufactures because of their malicious business practices, I think we all know the real problem for PoW security, Hashrate Rental sites. Let's go through a short-list of coins that are listed on Nicehash, where hashpower could be bought and then executed a 51% attack.
Monacoin 51%
BitcoinGold 51%
EthereumClassic 51%
Vertcoin 51%
ZenCash(Now Horizen) 51%
BitcoinPrivate 51% (Ethical Hack)

Nicehash has been the #1 to go to "sell" hashpower for whatever coin they support for BTC and other rental services such as miningrigrental. While we cannot prove that this attacks were used by buying hashpower on nicehash, a ethical hacker Geocold lived streamed how easy it was to attack PoW coin BTCP. "using a couple of hundred dollars’ worth of rented hashpower he’d purchased from Nicehash with BTC" (bitcoin.com). We can assume then that other 51% attacks all follow this method.

Step 1. Buy more Hashpower than the current network using rental services
Step 2. moves coins on the true network to other addresses, makes deposits, then withdraws them to a safe addresses
Step 3. broadcast the untruthful chain to the network
Step 4. this reverts the truthful network.
Step 5. Profit.
Shockingly, several crypto-currencies not only were cheap to attack but also had plenty of hash rate for sale on NiceHash with which such an attack could take place. When 51% attacks were considered in the past, most calculations included the cost of hardware, electricity, and maintenance. But this new “rent-a-attack” method is proving dangerous for smaller networks. (ccn.com)
This is what happened to ETC recently. Few people who were using nicehash services commented that they noticed a pay-bump mining ETH-HASH.

One PoW altcoin team has set up a script to constantly monitor their hashrate. In the event of a spike of over 10%, they will be automatically notified. Should the newly added hashrate emanate from an unknown pool, or be in danger of tipping an existing pool over 50%, they have a large quantity BTC on standby with Nicehash ready to purchase their own firepower to counter the attack (bitcoin.com)
Again it shows the only way that people counter this is to over-bid/buy more hashrate.

While I understand PoS doesn't suffer from these type of attacks. However I find it unreasonable to say PoW is flawed because 51% attacks. Hashrental services we not envisioned by Satoshi's PoW. Any actual mining actors not using hash rentals would need a sizable amount of resources to perform a 51% and double-spend even on small cap coins. Nicehash takes your money and doesn't care.

The elephant Crypto needs to deal with it shutting off nicehash and rental services. After the nicehash hack I know I saw a sizable increase in profits because difficulty dropped on so many coins.

IMHO Nicehash needs to turn-off purchasing hashrate and instead turn to "auto-covert" where they mine the coin that's profitable that day and turn into bitcoin for the user. We wouldn't have the chance of 51% attacks.

submitted by Xazax310 to CryptoCurrency [link] [comments]

Groestlcoin Christmas Release!

Groestlcoin Dec 2018 Christmas Release Update

As per usual the 3 months has been all hand-on-deck, helping to bring further adoption utilities to Groestlcoin. The markets have been red but as always that doesn't stop the show from going on with regards to the development since the last release update on 24th September. Here's a recap of what has happened so far:

Recap:

What’s New Today?

Groestlcoin on Trezor Model T

As of the latest version of the Trezor Model T firmware, Groestlcoin is now officially supported! The Trezor Model T is the next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence. The Trezor Model T now supports over 500 cryptocurrencies.

Blockbook MainNet & TestNet Block Explorer

Blockbook is an open-source Groestlcoin blockchain explorer with complete REST and websocket APIs that can be used for writing web wallets and other apps that need more advanced blockchain queries than provided by groestlcoind RPC.
Blockbook REST API provides you with a convenient, powerful and simple way to read data from the groestlcoin network and with it, build your own services.

Features:

Blockbook is available via https://blockbook.groestlcoin.org/ Testnet: https://blockbook-test.groestlcoin.org/ Source code: https://github.com/Groestlcoin/blockbook

Edge Wallet

Groestlcoin has been added to the Edge wallet for Android and iOS. Edge wallet is secure, private and intuitive. By including support for ShapeShift, Simplex and Changelly, Edge allows you to seamlessly shift between digital currencies, anywhere with an internet connection.

Features:

Android: https://play.google.com/store/apps/details?id=co.edgesecure.app
iOS: https://itunes.apple.com/us/app/edge-bitcoin-wallet/id1344400091?mt=8
Direct Android: https://edge.app/app

CoinID Wallet

We are excited to announce that Groestlcoin has been added to CoinID! With integrated cold and hot wallet support, and a host of other unique wallet features, CoinID can easily become your go-to wallet for storing Groestlcoin. More details can be found here: https://coinid.org/s/groestlcoin-wallet-overview.pdf

Features

Android: https://play.google.com/store/apps/details?id=org.coinid.wallet.grs
iOS: https://itunes.apple.com/us/app/grs-wallet-for-coinid/id1439638550

Groestlcoin Sentinel - Windows Released

Groestlcoin Sentinel is the easiest and fastest way to track balances of your Groestlcoin addresses.
Features
You can download it using the links below.
Download the Windows Wallet (64 bit) here: https://github.com/Groestlcoin/Groestlcoin-Sentinel-Windows/releases/download/1.0/SentinelSetup_x64.msi
Download the Windows Wallet (32 bit) here: https://github.com/Groestlcoin/Groestlcoin-Sentinel-Windows/releases/download/1.0/SentinelSetup_x86.msi
Source code: https://github.com/Groestlcoin/Groestlcoin-Sentinel-Windows/

Groestlcoin BIP39 Tool 0.3.9 Update

The Groestlcoin BIP39 tool is an open-source web tool for converting BIP39 mnemonic codes to addresses and private keys. This enables the greatest security against third-party wallets potentially disappearing – You’ll still have access to your funds thanks to this tool.
What’s New
Download the Groestlcoin BIP39 tool here: https://github.com/Groestlcoin/bip39/archive/master.zip
Source code: https://github.com/groestlcoin/bip39
Or use hosted version: https://groestlcoin.org/bip39/

Electrum-GRS 3.2.3 Update

Electrum-GRS is a lightweight "thin client" Groestlcoin wallet Windows, MacOS and Linux based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain.
What’s New

Electrum + Android Version 3.2.3:

Android: https://play.google.com/store/apps/details?id=org.groestlcoin.electrumgrs
Windows & OSX: https://github.com/Groestlcoin/electrum-grs/releases/
Linux:
sudo apt-get install python3-setuptools python3-pyqt5 python3-pip python3-dev libssl-dev sudo pip3 install groestlcoin_hash sudo pip3 install https://github.com/Groestlcoin/electrum-grs/releases/download/v3.2.3/Electrum-grs-3.2.3.tar.gz electrum-grs
GitHub Source server: https://github.com/Groestlcoin/electrumx-grs
Github Source server installer: https://github.com/Groestlcoin/electrumx-grs-installer
Github Source client: https://github.com/Groestlcoin/electrum-grs

Groestlcoin ivendPay Integration

ivendPay and Groestlcoin cryptocurrency have announced the start of integration.
IT company ivendPay, the developer of a universal multicurrency payment module for automatic and retail trade, intends to integrate Groestlcoin cryptocurrency — one of the oldest and the most reputable Bitcoin forks into the payment system. Groestlcoin is characterized by instant transactions with almost zero commission and is optimal for mass retail trade where micropayments are mostly used.
According to Sergey Danilov, founder and CEO of ivendPay, Groestlcoin will become the 11th cryptocurrency integrated into the payment module. The first working vending machines for the sale of coffee, snacks and souvenirs, equipped with ivendPay modules, served the visitors of the CryptoEvent RIW exhibition at VDNKh in Moscow and accepted Bitcoin, Go Byte, Dash, Bitcoin Cash, Ethereum, Ethereum Classic, Zcash, Bitcoin Gold, Dogecoin and Emercoin. ivendPay terminals are designed and patented to accept payments in electronic money, cryptocurrencies and cash when connecting the corresponding cash terminal. Payment for the purchase takes a few seconds, the choice of the payment currency occurs at the time of placing the order on the screen, the payment is made by QR-code through the cryptocurrency wallet on the smartphone.
The interest in equipping vending machines with ivendPay terminals has already been shown by the companies of Malaysia and Israel, where first test networks would be installed. ivendPay compiles a waiting list for vending networks interested in buying terminals and searches for an investor to launch industrial production. According to Sergey Danilov, the universal payment terminal ivendPay for the vending machine will cost about $500. The founder of ivendPay has welcomed the appearance of Groestlcoin among integrated cryptocurrencies, as it is another step towards the realization of the basic idea of digital money - free and cross-border access to goods and services for everybody.
submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

Nice Article About How HPB Perform Vs EOS (and so ETH)

HPB: Unique Blockchain Infrastructure
Now most public chains will mention that the problem of tps development is the problem of the blockchain. This is also because the traditional blockchain has the problem of poor performance. In order to reach consensus, the efficiency is sacrificed. But if you want to build an ecosystem of countless DAPPs based on the public chain, there is no guarantee of performance that is almost impossible.
The dream of building a DAPP ecosystem is that Bitcoin has not been completed and it is not necessary to complete it. Bitcoin is only a digital currency and it has initially fulfilled its historical mission. It has become a value storer, and it has opened the world of the blockchain. .
Ethereum started with the goal of building a world-wide computer that provided the infrastructure for building decentralized applications, but so far it has only succeeded in the crowdfunding field. Due to performance, cost, scalability, and other issues, it is not yet possible to become a DAPP infrastructure. By the end of 2017, a simple encrypted cat game would have caused Ethereum to jam. Ethereum tried to get rid of the predicament through techniques such as fragmentation, Plasma, and PoS consensus.
Newcomers, such as EOS, are highlighting their high performance, emphasizing the possibility of reaching mega-level tps. Then, in the future, an infrastructure is needed to build a prosperous DAPP ecosystem on this decentralized infrastructure to meet the user or business needs of different scenarios.
What kind of program is a better choice? This is what blue fox has been paying attention to. Blue Fox focuses on an HPB blockchain project that uses a completely different search path than other public chains or infrastructure. This path is worth paying attention to all the buddies who pay attention to the blockchain.
This path is a combination of hardware and software. It is more demanding and the practice is more difficult. However, if it is truly grounded, it may be a good path.
HPB to become a high-performance blockchain infrastructure
Whether HPB or EOS have the same goals, they must provide a high-performance infrastructure for the decentralized ecosystem. why? Mainly from the blockchain to the mainstream business scene point of view. The current blockchain has achieved some success in security and decentralization, but there are natural constraints in terms of efficiency. This hinders its application scenario to the mainstream.
This is also a direction that Blockchain 3.0 has been exploring. Through higher performance, lower costs, and better scalability to meet the needs of more decentralized application scenarios.
The current bitcoin and Ethereum's throughput are both worrying. Bitcoin supports about 7 transactions per second on average, and Ethereum has about 15 throughputs. If you make the block bigger, you can also increase the throughput, but it will cause the problem of block bloat. Last year, an encrypted cat game made everyone see the blockchain congestion problem. From a performance point of view, it takes a long time for blockchains to reach the mainstream.
In addition to the lack of tps performance, the transaction cost of the blockchain is high. Both ordinary users and developers cannot afford gas costs that are too high. For example, before Ethereum's crypto-games became hot, there were even transaction fees compared to encrypted cats. It is also expensive.
The HPB and EOS goals are similar, but their paths are completely different. HPB uses a combination of hardware and software, has its own dedicated chip hardware server, which makes it theoretically have higher performance.
HPB is also trying to create an operating system architecture that can build applications. This architecture includes accounts, identity and authorization management, policy management, databases, asynchronous communications, program scheduling on CPUs, FPGAs, or clusters, and hardware accelerated technology. Realizes low delay and high concurrency and realizes mega-level tps to meet the needs of commercial scenarios.
It is different from EOS. Its architecture, in addition to its software architecture and its hardware architecture, is a combination of hardware and software blockchain architecture that combines high-performance computing and cloud computing concepts. The hardware system includes a distributed core node composed of high performance computing hardware, a general communication network, and a cloud terminal supported by high performance computing hardware.
The core node supports a standard blockchain software architecture, including consensus algorithms, network communications, and task processing. It also introduces a hardware acceleration engine. It works with software to achieve high-performance tps through BOE technology (Blockchain Offload Engine) and consensus algorithm acceleration, data compression, and data encryption.
BOE makes HPB unique
In the HPB's overall architecture, compared with other blockchain infrastructures, there are obvious differences. One of the important points is its BOE technology.
BOE mentioned above, is the blockchain offload engine. The BOE engine includes BOE hardware, BOE firmware, and matching software systems. It is a heterogeneous processing system that achieves high performance and high concurrent computational acceleration by combining CPU serial capabilities with the parallel processing capabilities of the FPGA/ASIC chip.
In the process of parsing TCP packets and UDP packets, the BOE module does not need to participate in the CPU, which can save CPU resources. The BOE module performs integrity checking, signature verification, and account balance verification on received messages such as transactions and blocks, performs fragment processing on large data to be transmitted, and encapsulates the fragments to ensure the integrity of received data. At the same time, statistics work will be performed according to the received traffic of the TCP connection, and corresponding incentives will be provided according to the system contribution.
BOE has played its own role in signature verification speed, encryption channel security, data transmission speed, network performance, and concurrent connections.
The BOE acceleration engine embeds the ECDSA module. The main purpose of this module is to improve the speed of signature verification. ECDSA is also an elliptic curve digital signature algorithm. Although it is a mature algorithm that is widely used at present, the pure software method can only be performed thousands of times per second and cannot meet the high performance requirements. So the combination of BOE and ECDSA is a good attempt.
In the process of data transmission between different nodes, BOE needs to establish an encrypted channel. In this process, it uses a hardware random number generator to implement the security of the encrypted channel, because the seed of the random number of the key exchange becomes unpredictable.
The BOE acceleration engine also uses block data fragmentation broadcasting technology. Block fragmentation includes a complete block header, which facilitates the broadcast of newly generated blocks to all nodes. With block data fragmentation, network data can be quickly transmitted between different nodes.
The BOE technology can perform traffic statistics of node connections based on hardware, and can calculate network bandwidth data provided by different nodes. Only providing network bandwidth to the system will have the opportunity to become a high contribution value node. In this way, incentives for the contribution of the nodes are provided.
In terms of concurrency, BOE is expected to maintain more than 10,000 TCP sessions and handle 10,000 concurrent sessions through an acceleration engine. BOE's dedicated parallel processing hardware replaces the traditional software serial processing functions such as transaction data broadcasting, unverified blockwide network broadcasting, transaction confirmation broadcasting, and the like.
According to HPB estimates, through the BOE acceleration engine, the session response speed and the number of session maintenance can reach more than 100 times the processing power of the common computing platform node. If the actual environment can be achieved, it is a very significant performance improvement.
Consensus algorithm for internal and external bi-level elections
HPB not only significantly improves performance through BOE, but also adopts a dual-layer internal and external voting mechanism in consensus algorithms. It attempts to achieve more efficient consensus efficiency on the premise of ensuring security and privacy.
Outer election refers to the selection of high-contribution-value node members from many candidate nodes, and the election will use node contribution value evaluation indicators. Inner-layer election refers to an anonymous voting mechanism based on a hash queue. When a block is generated, it calculates which high-contribution value node preferentially generates a block. Nodes with high priority have the right to generate blocks preferentially.
So, how to choose high contribution value node? Here is the first indicator to evaluate the contribution value. The indicators include whether a BOE acceleration engine is configured, network bandwidth contribution (data throughput over a fixed period of time), reputation, and total node token holding time. Among them, the creditworthiness of the node is obtained through the analysis of participating transactions and data analysis such as packaged blocks and transaction forwarding. The total holding time of the node token can be obtained by real-time statistics on the account information.
The outer election adopts an adaptive and consistent election plan. That is, by maintaining the consistency of “books” to ensure the consistency of outer elections, this can reduce network synchronization, and can also use the data of each node on the chain. The first is to put the above-mentioned four evaluation indicators into the block. By keeping the account books consistent, you can calculate the current ranking of all the participating candidate nodes. The higher-ranking high-contribution value nodes will become the official high contribution in the next round. Value node.
With the formal high contribution value node, the goal of the inner election is to find the high contribution value node corresponding to each block as soon as possible. The entire process is divided into three phases: nominations, statistics, and calculations. These three phases combine security, privacy, and performance.
The first is the nomination. At the beginning of the voting period, the BOE acceleration engine generates a random Commit. The high contribution value node submits its Commit, and the Commit synchronizes with the chain generated by the high-performance node. After the voting period is over, the Commit in the blockchain is started and the ticket pool is created. The last is the calculation. The calculation is mainly based on the weight algorithm to calculate the node's generation priority in the block. Generate the highest-priority high-contribution value node and obtain the block package right.
Other nodes can verify the random number and address signature according to the principle of verifiable random function, which not only guarantees security, but also guarantees the unpredictability and privacy of high contribution value nodes.
In general, HPB's consensus algorithm combines security, privacy, and speed through a combination of hardware and software. Using the BOE acceleration engine to generate random numbers, contribution value evaluation indicators, coherence ledgers, anonymous voting mechanisms, weight algorithms, signature verification, etc., privacy, reliability, security, and high efficiency are achieved.
Universal virtual machine design: support for different blockchains
The HPB virtual machine adopts a plug-in design mechanism and can support multiple virtual machines. It can implement the combination of the underlying virtual machine and upper level program language translation and support, and support the basic application of virtual machines. In addition, the external interface of the virtual machine can be realized through customized API operations, which can interact with the account data and external data.
The advantage of this mechanism is that it can realize the high performance of native code execution when the smart contract runs, and it can also implement the common virtual machine mechanism supporting different blockchains. For example, it can support Ethereum virtual machine EVM. The smart contract on EVM can also be used on HPB.
Neo's virtual machine NeoVM can also be used on HPB. When high-performance scenarios are needed, users of both EVM and NeoVM need only a few adaptations to interact with other HPB applications.
The HPB smart contract has also made some improvements, such as the management of the life cycle, auditing and forming a common template. No progress can realize the full lifecycle management of smart contracts, such as the complete and controllable process management and integration rights management mechanism for intelligent contract submission, deployment, use, and logout.
In smart contract auditing, HPB conducts a protective audit that combines automated tool auditing with professional code design. In terms of templates, HPB gradually formed a generic smart contract template to support the flexible configuration of various common business scenarios.
Incentives for a positive cycle of token economy
When the high-contribution value node generates a block, it will receive a token reward from the system. From the design of the HPB, the system will issue a token of no more than 6% per year, and the additional token will be proportional to the total number of high-contribution nodes and candidate nodes.
In order to obtain the token reward from the system, it must first become a high contribution value node, and only the high contribution value node has the right to generate a block.
In order to obtain the right to generate a block, it is necessary to contribute, including holding a certain number of HPB tokens, having a BOE hardware acceleration engine, and contributing network bandwidth to the system.
From its mechanism, we can see that HPB's token economic system design is considered from the formation of a positive incentive system. It maintains the overall HPB system by holding the HPB token, having a BOE hardware acceleration engine, and contributing network bandwidth to the system. safe operation.
HPB landing: supports a variety of high-frequency scenes
In essence, HPB is a high-performance blockchain platform and is an infrastructure where various blockchain applications can be explored. Including blockchain finance, blockchain games, blockchain entertainment, blockchain big data, blockchain anti-fake tracking, blockchain energy and many other fields.
In terms of finance, decentralized lending, decentralized asset management, etc. can all be built on the HPB platform to meet high-frequency lending and transaction scenarios.
In terms of games, although all game operations are not practical, the up-chaining and trading of assets such as game props are important scenes. Once the realization of the game product chain, you can ensure that the game assets are transparent, unique, can not be tampered with, never disappeared, etc., providing great convenience for the transaction between the game products.
Compared with traditional centralized service providers, there are many advantages. For example, there is no need to worry about the loss, confiscation, or change of virtual game products. The transaction process is also simple and convenient. Since HPB has a high-performance blockchain, it is expected to support millions of concurrents, and many high-frequency scenarios can also be satisfied.
For blockchain entertainment, it can support the securitization of star assets, such as star-related token assets. In terms of blockchain big data, it can support the data right, ensure that the data owner controls the data ownership, ensure the authenticity of the data, traceability, can not be modified, and finally realize data transactions according to the needs of different entities. , to ensure personal privacy and data security.
Based on HPB's blockchain infrastructure, based on its high performance, blockchain applications can be built in multiple scenarios. The HPB design provides a blockchain application program interface and application development package. In the HPB blockchain base layer, it provides blockchain data access and interactive interfaces, and supports various applications and development languages ​​using JSON-RPC and RESTful APIs. It also supports multi-dimensional blockchain data query and transaction submission, and the interactive access interface can be integrated with the privilege control system.
The application development package includes comprehensive functional service packages that operate on blockchains based on different development languages. For example, it provides functional interfaces such as encryption, data signature, and transaction generation, and can seamlessly support integration and function expansion of various language service systems. , supports multiple language SDKs such as Java, JavaScript, Ruby, Python, and .NET.
Conclusion
If the future blockchain wants to enter the mainstream population, it must have high-performance public-chain or infrastructure support to form a true application ecosystem. Ethereum's dream to build a decentralized ecosystem cannot be achieved on an existing basis. Ethereum is trying to improve performance and expand scalability through fragmentation, plasma, and pos consensus mechanisms.
At the same time, the current status quo has also spawned other public-linked efforts, including eos, HPB, etc. Among them, HPB has adopted a unique combination of hardware and software, dedicated BOE hardware acceleration, signature verification speed, encryption channel security, data transmission Speed, network performance, and high concurrent support all have their own advantages over simple software solutions.
In the software architecture, consensus algorithms for internal and external elections, flexible virtual machine design, application program interfaces, and development packages are also used to provide infrastructure for the development of blockchain application scenarios.
From the overall design of HPB, its goal is to provide high-performance infrastructure for the entire blockchain to mainstream people. With a high-performance infrastructure, blockchains can only be implemented in many high-frequency scenarios to create more application ecosystems and have the opportunity to reach mainstream people.
The HPB team focused on the technical background, including the founder Wang Xiaoming who was an early evangelist in the blockchain and once participated in the establishment of UnionPay Big Data, Beltal, and Beltal CTO. Co-founder CTO Xu Li has more than 10 years of experience in chip industry R&D and management. He was responsible for the logic design, R&D, and FPGA chip marketing of the core products of the world's top qualified equipment suppliers and the world's largest component distributor. Technical VP Shu Shanlin once worked for Inspur, a well-known Chinese server manufacturer, as an embedded chief engineer, and has extensive R&D experience in embedded software and underlying software. Another co-founder, Li Jinxin, is a former blockchain analyst of Guotai Junan and has extensive experience in digital asset investment.
The background of the team members is in line with the HPB's soft and hard path. According to the latest monthly report, the basic PCB layout design of the BOE board, the overall architecture design of the BOE, and the ECC acceleration scheme have also been completed. At the same time, several tests have been completed for the BOE hardware acceleration engine.
It is hoped that HPB will develop rapidly and will embark on a path with its own characteristics in the future of blockchain infrastructure competition. It will provide support for more decentralized applications and eventually build a prosperous ecosystem.
Risk Warning: All Blue Fox articles do not constitute investment recommendations, investment risks, it is recommended to conduct in-depth inspection of the project, and carefully make their own investment decisions.
Source: https://mp.weixin.qq.com/s/RSuz6R6MTotEL_U__Al_Wg
submitted by azerbajian to HPBtrader [link] [comments]

bitcoin mining profitable in the US? Where are my calculations off?

Someone tell me where my calculations are wrong. Amazon has this miner advertised:
Antminer S9 ~14.0TH/s @ .098W/GH 16nm ASIC Bitcoin Miner
So that would consume 14000*0.98=1372 watts.
Given my electricity costs (0.12 $/kwhr), I would make $8.19 for every $1 of electricity. In a month, I would make $884.
That can't be right. Where did I screw up?
Here is a python script to calculate that:
dollars_per_kwhr= 173.17 / 1390 dollars_per_btc= 6000 miner_kwatts=1.372 miner_terahashes_per_second= 14.0 network_terahashes_per_second= 9e6 block_time=600 block_reward=25 rev_dollars_per_sec= dollars_per_btc * block_reward * miner_terahashes_per_second / (network_terahashes_per_second * block_time) cost_dollars_per_sec= dollars_per_kwhr*miner_kwatts/3600 print "rev={}".format(rev_dollars_per_sec) print "cost={}".format(cost_dollars_per_sec) print "ratio={}".format(rev_dollars_per_sec/cost_dollars_per_sec) print "profit per month={}".format(3600*24*30*(rev_dollars_per_sec-cost_dollars_per_sec)) 
edit: thanks to Personthingman2. 25 vs 12.5 block reward. when I change that, my script outputs: rev=0.000194444444444 cost=4.74798641087e-05 ratio=4.09530330582 profit per month=380.93219223
This is a $4000 unit, so it pays for itself in 10 months. OK. So whether I will ever make money on this depends heavily on the growth of the network hashing rate over time, and the increase in BTC price.
edit2: I am guessing that the answer to my question is that I would be lucky for the unit to keep working long enough to pay for itself. It would likely break down before reaching that point.
submitted by SilencingNarrative to Bitcoin [link] [comments]

Blockchain to fix horribly broken e-mail system like it is today?

E-mail as it is, is horribly broken. Horrendously broken.
It wasn't that many years ago that you could be assured your e-mail reaches whoever you were mailing to. Today it is a mere suggestion, that perhaps this should be delivered to this person, at least for any automated e-mail. This seems to be creeping to manual, organic email as well. Hell, we are seeing even internal e-mails being flagged by spamassassin as spam, organic, human written conversations! In that instance, the spamassassin is also maintained by one of the largest hosting providers in the world...
Hotmail/MS services has been for years (atleast about 4 years now!) been silently dropping email, not all, but some. There's a bit of relief lately, as they have started to favor a bit more marking as spam, rather than silently dropping.
I know, most email users don't see this problem, but those who use email a lot to do their work, and those who need to send automated emails (say, welcome e-mails for a service) this is a big problem. (Disclaimer, for us, our niche of hosting probably causes flagging as well. Our site is blocked by many corporate firewalls for example)
Blockchain to the rescue?
This is an idea i've been toying around with a few years. What if any single e-mail would cost a faction of a cent, and who receives the e-mail, gets paid for it? Now that would solve a lot of problems. I realize there has been some half assed attempts on blockchain based e-mail, but they are about replacing email (never going to happen). Using blockchain to enhance the current experience, with least minimal friction should be the goal, not re-inventing the wheel.
Imagine a say 0.01 cent (0.0001 USD) cost per e-mail. This price would not be cost prohibitive even for free e-mail service providers (Ad revenue etc. should exceed this value), never mind any legit e-mail users. Especially considering you get paid for receiving. So all legit e-mail services would work rather well regardless of the cost. (never mind free email service could profit from this)
Spam however? To send 1 million emails you would need to pay 100$. How many spammers would continue doing so? At least it makes things much harder, not so easy to use a botnet to send your email when you need to include your private key(s) to the botnet, or make some kind of private key management system, makes more complicated.
Small business newsletters? Say you need to send 100k e-mails to legit customers, 10$ is nothing. To human time crafting that newsletter is order (possibly orders) of magnitude greater than that.
Price would also fluctuate as per the market. The most difficult thing would probably be setting the self balancing mechanisms to keep per mail cost sensible. As such, the biggest hurdle in this might not be technical at all.
Technically, how could this work?
Sender sends a TX for e-mail they are sending for recipient. This TX contains message with mail ID, and a segment which can be used with the email contents to unlock the private key for the payment. This way it is verified that recipient mail servers receives and reads the email. Once the recipient server has calculated the private key, they can either TX the received sum to their wallet, or this needs to be formatted so that once the sender has sent it, they cannot recover the private key and double spend (technical hurdle A. For someone who knows their stuff unlikely to be an major hurdle)
Step by step repeat: * Sender checks if recipient has "MailCoin" capability * Sender sends TX to recipient * Sender sends the email to recipient * Recipient notices on mail header (say x-mailcoin-tx: TXID_HERE) that this is a "mailcoin" mail * Recipient checks TX if it has been received * Recipient puts the mail on delivery queue, antispam is instructed of heavy negative score (MTA admin configurable) * Recipient claims the value of the TX (this is the hurdle A). Recipient can only claim the TX value in case they have received the full e-mail. (Question, can this step be pushed even further down the delivery chain, but still remain MTA only level without mail client support?). Most likely solution is that the header contains the encrypted private key, and chain TX contains the key to decrypt that private key to claim the coins, or vice-versa?
Once recipient has the email & payment, they simply mark on their Antispam a automatic lower score and deliver it normally.
E-mail server side we have several components:
Most typical scenario would be the Recipient server works as outgoing as well, with single wallet. So depending on your mail volume, do you send or receive more on that wallet you might never need to worry about the coins (except for value going skyhigh and having like 10k $ worth of "MailCoins").
So perhaps additional components on per use case are needed, or more likely rudimentary scripting capability (ie. "MailCoin" daemon api) to keep the balances in check.
Technical hurdle B: This needs to be super super simple to setup. Or sufficient financial incentive. One would need to develop standard components & configs for exim, postfix, and other MTAs. Infact, make it autogenerate wallet ID etc. and easy to replace or import private keys etc. to put in coins for sending if you need to.
Privacy: On the blockchain you would not see the e-mail contents, only that e-mail likely took place (TX with mail UUID) to recipient. If sender can be deciphered it depends on them if it can be traced who they were. Automatic mixers? :) Recipient can also keep cycling the receive addresses to keep things private if they want to.
The biggest problem i see here, is that if an attacker can deduce the sender and/or recipient, it might to lead to some issues out of the scope of technical solutions. If attacker could read the emails, they would already have accomplished MitM and could just grab all e-mails.
Default implementation should be so, that from recipient address outsider cannot deduce the recipient server nor hostname.
Also, if attacker gains access to your mail with full headers, they could see the TXs in blockchain. MTA might need to scrub mailcoin related headers (yuck, scrubbing headers ....) for paranoid users, but most likely solution is that recipient retransmits those mailcoins as soon as they got the private key for the balance.
Blockchain: Blocks needs to be done every 10seconds or so, it needs to be fast. Preferrably even every 5 seconds, as not to cause any undue delay. Then again, if your application is reliant on receiving email within seconds, one should consider another means for communicating. Imho, email should be considered a little bit like snail mail, but on internet pace: Couple minutes delay is just OK.
Block size given the e-mail volume needs to be fairly large as well, considering the time between blocks. This is technical hurdle C: Hosting the full blockchain. I can easily foresee that this would grow to be terabytes in size. However, any large email operator would have vested interest in ensuring smooth operation of the blockchain, and for them, running a full node would have neglible cost.
(Technical hurdle C) Single email sent using the system could easily have TX contents of 100 bytes + TX headers + block headers etc. Say 100 bytes, and 100 million emails per day: 9.31GiB per day, 3 399GiB per year, 5 years later: 16.60 TiB just for the mail TXs.
Some estimate there is 200+ billion emails per day, but we all know large portion of this is spam. But even at 50 billion emails a day, 100 bytes per mail TX would add to 4.55TiB per day! So optimizing the blockchain size is obviously going to be important. The volume will be obviously much smaller as semi-spam (those daily half opt-in spamvertising from companies you know) will be lower as well. So probs 100+ billion emails per day at 100% adoption.
Blockchain should then be compressed, the whole block. Algorithm probably should favor speed over compression rate, and should be task specifically optimized (needs a simple reference release, where you can just stream the block contents into it and get output as compressed or uncompressed). The more compression there is, the more full nodes will be hosted by smaller operators :)
For large e-mail server clusters there should be central store for the blockchain, but this can be accessed on the system administratoconfig level already. The MTA components will just remotely talk to single full node daemon (so not really different from many implementations in existence right now), instead of each one running locally a full node.
At today's cheapest hosting rates 16.60TiB is roughly around 85-100€ a month. Purchase cost per 8TB drive is around 230€ mark right now, externals are cheaper. Not an issue for any even semi serious mail provider. Not even issue for datahoarder individuals.
However at 100 billion mails per day: 9.09TiB per day added, which is prohibitively large! We should be targeting something like 20bytes per mail final storage spent, or even less.
If it looks like it is going to grow really large, full node needs to have configurable multiple storages, so they can store parts of the blockchain on multiple different devices (ie. individual might choose to have it on 4 different external drives).
Filesystem side optimizations are needed as well, but these are fairly simple, just split into multiple subdirectories by the 10 thousand blocks or so, ie. 1 for blocks 1-10k, 2 for blocks 10 001 to 20k etc. Filesystems get exponentially slower the more files there is per directory. 10k might start to show slowing down, but is not significant yet.
Nodes could also implement secondary compression (compress multiple blocks together), if the blockchain starts to become stupid large. If it starts to become impossible to maintain, we could possibly implement a scrubbing methodology, where very old blocks get the TX contents wiped as they are not necessary anymore. Should not be an issue
Blocks with 10second target generated per annum: 3 153 600 Mails per 10second: 115 740 e-mails per 10second block. Final compressed size (say 20 bytes per mail): 2.20MiB + headers etc. per block Let's start small and allow linear growth to this, say 0.1% per day (36.5% annual) and start from 20k / 512KiB. After 3 years: 41.9k / 1072.64KiB per block, After 10 years: 93k / 2380.8KiB. (2027 we should have HDDs in the size of 30TB and daily max size for chain growth is 19.61TiB)
On the positive side every problem is an opportunity in disguise. If the blockchain is large, once again botnets will have a hard hard time to spamming, they can't host the full blockchain on infected machines. They will need to develop centralized mechanisms on this regard as well. One method i can see is by having TOR client built in, and via .onion domain to anonymize, but this is two way street, security researchers could exploit this (see above about the private keys) as well. Even without botnets, spammers will need to dedicate significant resources to host the full blockchain.
On the flip side, if spammer has also mining operation on the same local area network, they have both the income for mailcoins + full blockchain, and could leverage economies of scale, but this too would increase cost. And after all: This is all about increasing cost for spamming, while having the price in vicinity where real e-mail users, real businesses it is not a significant impact, or may even be an income source
Client side
Zero, Nada changes. No changes to outlook, thunderbird etc. Everything works under the hood at the MTA level. Very easy adoption for the end user. Everything is in the backend, server side.
Economics for users
Cost of operation has above been shown to increase wildly for spammers. But how about normal use cases?
Joe Average: They receive e-mail a lot more than they send, all kinds of order confirmations, invoices, newsletters and other automated e-mail. They will actually earn (however tiny amounts) from using this system. So for the masses, this is a good thing, they will see the earning potentials! which brings us to ....
New business opportunities! I could foresee a business setting up spam traps, the more e-mail you receive the more you earn! So it pays to get your receiver into spam lists. You don't ever need to read these, just confirm receive of them. All of sudden we could see even greater numbers of invalid e-mail addresses in spam lists, making spamming ever more expensive!
Free email services might proof to be extremely profitable, to the point of potential revenue sharing with Joe Averages (and above spamtraps). Because free email is mostly joe averages, they will have greater influx than outgoing. On the caveat, free email needs to have limits, but due to the low cost and potential of earnings, they could implement "mail credits" system, base is like 20 emails a day, but each received email could increase this credit limit. As such, it makes actually sense for free email services to implement this at the very least on the receiving side.
Business mass emailings. A business which has 100k valid e-mails on their database will not have a problem with paying few dozen bucks to have their mass mailing delivered. BUT they will make extra sure the content is good and targeted, something the recipient wants to receive. These will be the biggest spenders on email, apart from spammers.
ISPs, hell they get paid to provide e-mail. And they are on the same spot as free email service providers, they stand to earn more than spend!
Blockchain economics
This is where things might get interesting, there is so much potential.
However, there are several things definitively should not be done:
1 & 2 are easy, just do not mine outside of testnet prior to launch. (If devs get paid by companies, there is conflict of interest as well, but let's not get into that right now)
3: Miners and/or full node maintainers decide what goes on. Probably miners like bitcoin is supposed to.
4: Infinite & preferential supply: No after the launch "contracts" etc. to give coins to preferential parties, it should remain as on the launch unless majority consensus says there will be a change. Proof of stake is gray area imho, but then again also proof of work is the rich gets richer.
Mining: Storage requirement is a blessing in disguise, the massive storages required for this to function means that there will be no central hardware developer who sells all the shovels, without significant other markets. Ie. WD, Seagate, Toshiba the main players.
This means algo needs to be based on the full blockchain being hosted. The hashing needs to be so that GPUs are the king most likely, since almost anything good for CPUs is also doable in GPUs. Eventually someone will likely come with ASIC alternative, but due to masses of data it WILL require high bandwidth, high memory. Nothing like bitcoin currently, where low bandwidth, no memory requirement for the ASIC. There needs to be some expensive commodity components in there (RAM, Storage), and as such GPUs are the most likely candidate, and the bottleneck will not likely be computation, but I/O bandwidth.
Quickly thinking, previous block could include number of blocks to be included on the next for verification, in a highly compressible format. Let's say difficulty is number of blocks to be hashed, or from difficulty you can calculate number of blocks to be included. Previous blocks miner just chooses on random blocks to be included on the next one. Listing 10 series of blocks to be included, which can include series instructions. It could request block #5729375+100, or #357492+500 stepping 5 (every 5th block). Hell the random generator could use last block as seed for the next one to make it deterministic YET random as the emails and TXs change. (WTF, Did i just solve how the algo needs to work?!?) Only blocks which would differentiate is the first few, and obviously Genesis, for which an "empty" block would be what is to be hashed.
Hashing algo could be SHA256 because of the high requirement of streaming data, and most ASIC miners lacking in bandwidth (infact, it could be made compatible with bitcoin, but only those ASICS with higher I/O bandwidth than storage/ram I/O bandwidth is could actually boost the perf)
Different hashable list operations could be (on the block list what to be hashed on the next one): * Single block * Block # + number of blocks * Block # + (number of blocks with stepping) * Block # + number of blocks chosen by random using each hashed block as the seed for choosing next one (makes prefetch, preread, caching not work efficiently) * Number of previous blocks mined (ie. 50 last blocks) * Above but with stepping operator * Above but with choose random next X blocks, with variations based on the last hashed, sum of the hashed * All random pickers would have operation modes for the seed to be used: From hashed sum, the whole block, block contents, block header
These modes would ensure the blocks are there and makes it a lot dependable on variable factors, RAM speed, I/O seek time, I/O bandwidth.
This way we have proof that the miner has access to those blocks in efficient manner and the full blockchain is stored there, even if it is not practically retrievable from him / her over the internet for others to obtain a copy. HOWEVER, due to the data volumes, i think it is given they have fast access, but a miner would probably prefer not to share their blockchain contents to have bandwidth free for their mining, as the deadlines are tight. It could be built into the full node spec that they do not accept new blocks from sources which are not ready to supply any given block, and perhaps even periodic test of this. However, this would be unenforceable if people start running custom coded nodes which disables this, as it is not part of the blockchain calculation. It is not miner's benefit to "waste" precious bandwidth to serve others the vast blockchain, meanwhile it is end users benefit those running full nodes without mining to get them fast. So an equilibrium might be reached, if miners start loosing out because other miners will not share their blocks, they will start offering them, even if prioritized.
At 2MiB blocks, 10 second deadline, a miner would preferentially want the new block within 500ms, which would be barely sufficient time for a round trip across the globe. 500ms for 2MiB is 4MiB/s transfer rate inbound, and when block found you want it out even faster, say 250ms you'll need 8MiB/s burst which very very few have at a home. At more usual 1MiB/s it would take 2secs to submit your new block. On the other hand, if you found the block, you'd have immediate access to begin calcing the next one.
Block verification needs to be fast, and as such the above difficulty setting alone is not sufficient, there needs to be nonce. Just picking the right block is not guarantee there will be match, so traditional !???? nonce needs to be set as well most likely. As such, a lot of maths needs to be done to ensure this algorithm does not have dead ends, yet ensures certain blocks needs to be read as full and stored fully by the miners, just plain hashes of the blocks is not sufficient.
Perhaps it should be block data + nonce, then all the blocks hashes (with nonce, or pre-chosen salt) and to be generated block combined hash with nonce needs to have certain number of zeroes. Needs testing and maths :)
So there are many ways to accomplish proof of storage, we'd need just to figure out the which is the best.
Sidenote, this same algo could potentially be used with different settings for immutable, forever storage of data. Since there is no continuing cost to store data, TX Fee for every message (data) byte should be very high in such a coin.
Supply. Needs to be predictable and easy to understand. It would be preferential the standard mailing out is always 1x MailCoin, albeit coin itself should be practically infinitively divisable, and as such supply needs to be in the trillions eventually. But these things get complicated really fast, so we need to set a schedule.
Current email use is very large, so we should have something in the same magnitude. 8640 blocks per day - so maybe 10 000 coins per block == 86 400 000 new coins per day == 31 536 000 000 new coins per year, halving every 2 years. First halving: 63 072 000 000, Second halving: 94 608 000 000, Third (6 years): 110 376 000 000, but only halving 4 or 5 times to keep some new supply for ever increasing adoption and lost coins.
Got all the way here? :D
Thanks for reading up. Let me know what you think, and let's start a discussion on the feasibility of such a system!
I cannot develop this myself, but i would definitively back an effort up in the ways i can if anyone attempts to do something like this :) And i know i got probably many of the details incorrect
The main point of the methods described above is ease of adoption. Without adoption any system is worthless, and with email, you just cannot replace it like that (see the attempts trying to replace IPv4 with IPv6 ...), but you can enhance it. adoption is very critical in communications systems. (No one would have a phone if no one else had a phone)
Addendum 1: Forgot to add about pricing and markets, read comment here
Addendun 2: Bad actors and voting
submitted by PulsedMedia to Bitcoin [link] [comments]

Log of AMA with Skycoin

boldninja Let's all give a warm welcome to @synth from SkyCoin.net and for taking the time to do this AMA
synth *hello
mike Hi Synth
jakethepanda Hey @synth
thrice.pi Hey synth
dr10 Hi
boldninja I think we can start - you guys know the drill. Give him some time to respond (no more than 2-3 questions on backlog so he can catch up)
dr10 How would you - shortly & in easy words - sum-up the advantages of SkyCoin to magazines and non-crypto people?
mgaruccio Can you explain a bit about the mesh net? Is it just an mpls network between nodes or is there something deeper going on?
michaelthecryptoguy Whassup @synth
tranzer hi synth. I have a question - are those coins that are not in circulation in any cold wallets since only a portion is currently available according to CMC? What would you say is the 1 unique feature that Skycoin has?
synth It is very difficult, because Skycoin is a very large project and already has +6 years of development. Different parts of the project have different objectives.
The cryto, coin part is about solving the problems with the existing consensus algorithms. Being able to do +300 transactions a second, transactions in seconds instead of minutes (faster than credit cards), eliminating miners, eliminating block rewards (eliminating inflation) and eliminating 51% attack and the other problems with mining.
then there are other repos and experimental projects under github.com/skycoin such as a meshnet and distributed VPN prototype, where people will be paid coins for forwarding traffic. Also prototypes of distributed social media application, with peer to peer data replication and different experimental projects. Research into immutable data structures for next generation internet. Some of them are very radical.
dr10 How does the Network consensus algorithm Obelisk work and differ from widely known algorithms like Proof of Work and Proof of Stake?
mgaruccio So how much exists today? Could I build an app on the platform if I wanted to?
mike In terms of the rate of progress, what is currently your greatest limiting factor - like funding, manpower, currently available technology?
synth
Can you explain a bit about the mesh net? Is it just an mpls network between nodes or is there something deeper going on?
It is not actually a meshnet. It is software defined networking, it is much more powerful than just meshnet. Its a new type of networking and new completely new protocol and networking namespace, independent of the existing internet.
It supports source routing, while the existing internet does hot potato routing, so never achieves optimal latencies.
It supports multi-homing, which IPv6 does not (Which is critical for when we have gigabit or terabit networking and multi-redundant bandwidth paths)
It has default oppurunistic crypto, both link layer and end to end; so everything is encrypted by default, unlike the current internet.
It has store and forward networking and will operate in Africa or even under conditions where latencies are in the minutes or hours and packet loss is excessive. Where existing protocols cannot operate reliability. It is much more robust than IPv4/IPv6 or TCP/ip
It has improved privacy. If a packet takes a route that is 10 hops, each hop only knows the previous node in the route and the next node in the route. It is not like IPv4 where each packet gives the source and destination. The privacy level is something that does not exist on the current internet.
IP addresses are replaced by public key and no one can read traffic to a destination, without knowing the private key of the public key that identifies the destination. The system does not need 3rd parties or certificate authorities. The design is a revolution.
are those coins that are not in circulation in any cold wallets since only a portion is currently available according to CMC?
The coins are locked into 100 addresses, each with 1 million coins each. And they are released sequentially.
There is a complicated locking procedure and releasing new coins requires unamious consent and a shared secret among a group of developers. Anyone in the shared secret group can block distribution of more coins (to stop the problem that killed NXT). So by design the coins were supposed to be difficult to distribut, there had to be a good reason or justification before a distribution would be approved.
mike What are the hardware requirements to operate a wireless Skywire (the name for the protocol described above) Node?
arc-over-water nxt i think is doing ok..
synth
How does the Network consensus algorithm Obelisk work and differ from widely known algorithms like Proof of Work and Proof of Stake?
PoS and PoW use miners. Miners receive new coins every block as a block reward. So miners are making money and will fight to control the network. An everyone will suffer because the newly created coins represent inflation.
Skycoin was designed to eliminate mining and eliminate the inflation. No block rewards, no new coins. And we needed to develop a new consensus algorithm to do that and there are only a few methods that work, for these constraints. The consensus algorithm is based upon Ben-Or's randomization procedure for achieving consensus in a distributed system, with some improvements for detecting adversarial or malicious nodes who are trying to prevent the consensus process.
There are white papers on skycoin.net about the specifics. I would call it "network consensus" and it uses a sort of Web of Trust (WoT), where if the people creating blocks are doing a bad job or attacking the network, then the community can get rid of them. At the same time, the people who control the network, do not have any real power to attack the network except by slowing down transactions and being annoying, so even if they become malicious the only issue is how to get rid of them and select new people.
mike Any idea when Skywire will be released and ready to test on hardware nodes (testnet or mainnet)?
mgaruccio So if there is no block reward what is the incentive to run a node?
vega What will be the actual function of Skycoin (the coin itself)? Will the coin be used as currency, as transfer of value in and between all these various developing functionalities, semi-separate projects to tie them all together or it's function will be more limited?
michaelthecryptoguy Do you have an idea on the specs of a node that would be required? In the beginning? What about with 10,000 users? (edited)
synth
nxt i think is doing ok..
There were three people that each owned 30% of the coin. One decided he wanted out and began dumping. NXT was over 150 million I think. When he started dumping, it basicly killed NXT.
Skycoin's distribution was designed to stop dumping by the founders and early people.
After Skycoin gets to 30% of the total coins distributed, there will probably a hard time lock on the remaining coins, so that a maximum of 5% of the remaining coins can be released per year. So the distribution for the other 70% of the coins will take a minimum of 14 years (and could be longer).
We cannot even sell the rest of the coins, because if we sold 10% of the total now at $5 per coin, it would be 50 million or something and we cannot spend or even use that amount of money. Not at this stage.
Ethereum spent 30 million or 70 million in their first year or two after the ICO and then nearly went bankrupt. Silicon Valley wages and offices etc. We have been very conservative and have kept costs down and kept them responsible. Now we have coins like EOS and they want to raise a billion dollars and have not produced anything yet, do not hav a blockchain and I have no idea what they would spend that money on, but they are throwing $350,000 parties in time square for marketing/PR etc...
arc-over-water what prevents you from selling? anybody can spend that amount of money?
nxt is a newer platform than sky, market value is $220 million plus $166 million, I get what you are saying but the evidence is wrong. Community is huge and active in Nxt. But you say it is killed, i dont get it?
synth
What will be the actual function of Skycoin (the coin itself)? Will the coin be used as currency, as transfer of value in and between all these various developing functionalities, semi-separate projects to tie them all together or it's function will be more limited?
Yes. Bitcoin has no purpose. An altcoin does two things - check your balance - send money to other people
Two features - check balance - send
For a coin to have value, people need to be forced to buy it to consume specific services. There has to be stuff for people to spend the coin on, that there is demand for.
So Bitcoin is really just a purely speculative asset. It generates no cashflow and its value is determined by perception or social convention.
Ideally, Skycoin would start off as a "better Bitcoin" (faster, more secure, new algorithm, simplier, etc), then over time we would build up an ecosystem and have some type of backing and tie the coin's value into the network and usebase.
The mesh netork (skywire) is good, because it gives something for people to do to get coins and it allows people to consume the coins. You can run your internet traffic through a VPN that tunnels over Skywire and maybe it will be a nominal amount (actually absurdly small amount of money), but there would be real economic activity and a real userbase and community using the coin. Not just speculation.
Later on the scope is much wider.
arc-over-water So the skycoin wallet will be a VPN for our internet usage?
synth
nxt is a newer platform than sky, market value is $220 million plus $166 million, I get what you are saying but the evidence is wrong. Community is huge and active in Nxt. But you say it is killed, i dont get it?
What I am saying, is that NXT would be a lot further along than it is now and probably around where Ethereum is, except for that mistake in the distribution and keeping it too concentrated. It set them back by years. They did not consider what the impact on the price would be, over the long term, when one of the early whales started selling off or decided he wanted out.
arc-over-water But they did the same again with IOTA, same lead dev.. Its over a $Billion
they released and let the market price distribute
synth
So the skycoin wallet will be a VPN for our internet usage?
The VPN is just one application, that uses bandwidth over Skywire. There are several things in development.
This is a BBS like 4chan, that is completely distributed, with CXO. https://github.com/skycoin/bbs
It will run over Skywire also, This is like building a whole new internet from scratch. The apps that run on it are going to specialized and privacy focused, etc GitHub skycoin/bbs Contribute to bbs development by creating an account on GitHub.
mike So Skycoin is a Proof of Resource coin where its value is actually backed by provision of a useful service, in this case private and secure networking? Are there plans to add decentralized storage and even distributed processing to it?
arc-over-water so these 100 separate million coin accounts will be 100 ICOs or how is the distribution patterned? is it written into the code or up to the devs?
rockyj !calculate
slackbot Custom Response https://docs.google.com/spreadsheets/d/1FGo3FkC3uSWXGHatPQyny2brMWjAIJsHFCR-Lhkl_m0/edit#gid=0
synth
So if there is no block reward what is the incentive to run a node?
running a consensus node does not cost anything. You can run it on a raspberry pi.
The important thing is that if the people doing consensus are doing a bad job, that the community can get rid of them and replace them. The other important thing, is that they can be audited and determined automatically if they are obeying the protocol.
the miners in skycoin are not very powerful and cannot do anything except slow down transactions. They are unable to spend other people's money without their private keys, so the consensus/mining nodes are almost irrelevent. It is not like Bitcoin where the miners can hold the network hostage or act selfishly (driving up the transactions fees for their own personal benefit and delaying any innovations that would improve bitcoin for everyone, etc).
So Skycoin is a Proof of Resource coin where its value is actually backed by provision of a useful service, in this case private and secure networking? Are there plans to add decentralized storage and even distributed processing to it?
We have decentralized storage, which is called CXO. But only the bandwidth is monetized by Skywire. We do not nickle and dime and try to attach a coin cost to every API call. Everything that should be free is free. So its a different philosphy.
On top of CXO we also have distributed social media applications (simmilar to Steemit)
CXO is very similar to IFPS, but simplier and designed for our internal infrastructure and with our crypto standards, instead of being a mismash.
mike Is it possible for Skycoin to choose the best paths and route around bad or slow nodes as damage to the network, in effect reducing their impact on consensus?
looks like you answered the question above while I was typing...
tranzer How many tx/s can skycoin handle? What are block times?
thrice.pi 300 right? ^
arc-over-water on your website it says you will have a NON- Turing complete lisp language?
synth
so these 100 separate million coin accounts will be 100 ICOs or how is the distribution patterned? is it written into the code or up to the devs?
We will have a distribution page, up on the website soon. Its complicated.
Skywire, is designed to pull coins out of circuation, through a sort of tithe on network activity and it does automatic buy backs effectively. So the distribution will actually peak and then decline. But one distribution is from the locked coins, and the locked coins are freed, then circulate, then end up at the foundation (from the skywire tithe are pulled out of circulation), but still count towards the free float.
The coin holders also receive a coinhour dividend and there will be a market rate conversion between coin hours and Skycoins and coinhours are the actual currency for the Skywire network. If you do not have enough coin hours, then you sell Skycoin for CoinHour at the market rate, to purchase bandwidth; but if you have a lot of coins then you have enough coin hours for downloading movies or VPN or whatever you are doing and it is essentially free.
So there is a dual level economic structure. Both with coin buybacks to pull coins out of circulation and with a dividend or incentive to encourage users to hold the coin if they are using the network.
arc-over-water so there will be two currencies, holding one reserves the other
synth
Is it possible for Skycoin to choose the best paths and route around bad or slow nodes as damage to the network
Yes. This is very important.
The person dialing a connection, chooses the path of the connection!
You can choose the lowest latency path for video games or Skype, and choose highest throughput paths for video downloads etc. Or can choose paths through specific nodes or facilities or countries, for security concerns and to minimize the number of points that the traffic could be intercepted at.
mike Will Skycoin still have the node subsidy plan for setting up and registering the mesh nodes like originally planned?
dr10 When do you plan to be able to present your planned technology and services to the masses? When can they use what you try do accomplish?
synth
on your website it says you will have a NON- Turing complete lisp language?
That is probably an error. LOL. We will have a new website soon.
There is no scripting language on the skycoin blockchain. Each transaction is constant time (for efficiency and security and to achieve the highest transaction rate and to keep the coin simple).
However, we have a language called CX in development, which is a next generation language that is beyond "smart contracts" and the toy things on ethereum. It uses immutable datastructures and is something completely new. Most of the skycoin "smart contracts" will probably be off blockchain or in personal blockchains and we do not want to shove all the data onto the main chain, because forcing everyone to download everyone one elses contracts it the world is just spamming the blockchain to death. There are better ways to do it.
Will Skycoin still have the node subsidy plan for setting up and registering the mesh nodes like originally planned?
Yes. We are going to get from 20% to 30% distributno of the coins, through network incentives for people running Skywire nodes, consensus nodes and services.
I think this is going to be massive for marketing. And it is the best way to get the coins out to the users, instead of all the coins being held by whales
samuelvihollandia I read how you suggest Skycoin could be used for VPN connections, is this the largest use case you see?
arc-over-water Maidsafe has been working on the redesign of the net for about ten years, what are you doing the same and what different?
synth
I read how you suggest Skycoin could be used for VPN connections, is this the largest use case you see?
No. This is just something easy, that we have working. Its not the largest applicatoin at all.
80% of internet traffic right now is bitorrent and the bitorrent sites are being systematically shutdown and driven off the internet. They wont go away, but will jut go underground. What.cd (largest music tracker, with 800k people) was just shut down, bakabt (largest anime tracker) has gone closed registration, Nyantorrent etc...
User communities of millions of people will be migrating from the clearnet (the existing corporate shit-net) to the "new internet". We are going to see people migrating by the millions, whole user communities of millions of people.
arc-over-water Are you a corporation or foundation or charity? Registered? I am not sure i have seen anything about who you are? What is the dev team size? Background? - Maidsafe is open and clear so is IOTA and Stellar etc. Can you let us know who you and your team are? Especially you are talking about 15 year and up obligations..
techbytes Do we need to hold skycoin to run Skywire nodes or consensus nodes like masternodes from other coins?
synth
Maidsafe has been working on the redesign of the net for about ten years, what are you doing the same and what different?
Maidsafe is in version 2 or 3. Maidsafe will not have a real coin until version 9. Each version takes them about two or three years. Maidsafe will not be "done" or ready for atleast 18 years at this rate.
Skycoin has been in development for ~6 years and the meshnet for 4 years and it will be finished in a few months. To the poin that people can start using it.
Skycoin is similar to maidsafe in the objective, but has a different approach and architecture and primitives. We did not try to do everything, but focused on a smaller, tractable core and got that done.
There will be multiple projects in this space, but few teams are able to plan on the time horizon necisary for building a new internet or able to design each of the components of a system this large, or figure out how to do it so that it is useful at each stage of construction of a project that may take a decade. (edited)
mike Can you see a way for Ark and Skycoin to build on each other in a synergistic manner? I'm all for not reinventing the wheel, especially when it looks like it will be replaced with antigravity like Skycoin.
I see Skycoin as essentially replacing TCP/IP and providing mesh network type functionality at the hardware level, Ark would run on top of it as a top level application layer.
arc-over-water are you up to date on Maidsafe, they are nearly out of Alpha and its more like release early next year? But that being said, Maidsafe says once it is released it is like a virus or AI type, so does Tau Chain, and also Autonomic by HunterMinerCrafter, are we heading towards AI with Maid, Sky Tau and Autonomic?
dr10 smartbridge now! :kappa:
mike So Skycoin would act as a sort of global decentralized cloud server to build on top of.
To communicate, it is more like sharing encrypted files to selected recipients than it is sending messages or hosting sites on a specific server.
synth
Are you a corporation or foundation or charity? Registered? I am not sure i have seen anything about who you are? What is the dev team size? Background?
I think there are over ~60 people who have worked on Skycoin or have made major contributions. Its really a project from the darknet.
Many of the contributors are anonymous. Some of them have security clearances and were in the military industrial complex and one of them worked at the San Diego Naval Defence Research Lab and a lot of the idea for the networking protocols came out of public sector academic researched, funded from there.
We also have a lot of very very early Bitcoin people, hardcore crypto people that predate Bitcoin and an Ethereum core developer, etc..
On the Chinese side we have an early investor in Alibaba and telecom investor. And are doing pilot with china aviation group (owns four publicly traded airline companies) and apparently now Sinopec (which is 2nd largest publicly traded corporation in world).
Then we have people who are part of israeli and US intelligence and are probably doing some sort of money laundering or phychological operations background, who just showed up for some reason. This group seems very interested in the "applications" of these coins and how to improve tranaction privacy and the specifics of the CoinJoin protocol implementation. We got a lot of advice from people experienced in forensic accounting and what they wanted to see and where they felt Bitcoin was deficient and where it leaked metadata.
Then a bunch of PHD level people doing research into distributed database consensus algorithms and another group doing programming language research.
Then a lot of people from the deep darknet, anon, frog twitter and cipher punks and bitorrent communities. (really should be listed as two seperate groups). And people from the Russian darknet community. We have like eight Ivans. (edited)
I see Skycoin as essentially replacing TCP/IP and providing mesh network type functionality at the hardware level, Ark would run on top of it as a top level application layer.
Yes. The key functionality is two things - connecting to people by public key (networking) - distributing self validating, immutble data peer to peer (transactions, blocks etc... content addressible storage)
And you can build almost anything on those two building blocks. The whole internet will eventually be rewritten on top of those primitives and it will replace many of the existing protocols.
arc-over-water Who is the entity that is funding this? I think you have done 2 ICOs? How much did you receive? The first was 10c and the second was @ 50c per coin, released 6 million, is that correct?
samuelvihollandia Are you planning to enter a different exchange market soon?
arc-over-water Have you personally been in Sky from the start? What members have? Who allocates the ICO money etc... I hope you understand that decentralization with investment is a two edged sword, we invest in people but we cannot know these people.... So... we question.. (edited)
thrice.pi with all these outside parties that helped to build skycoin and bring it where it is today who are the main core team who will help to keep all these cool features running. Will these outside parties be recruited for the long haul?
synth
Who is the entity that is funding this? I think you have done 2 ICOs? How much did you receive? The first was 10c and the second was @ 50c per coin, released 6 million, is that correct?
The people who funded the project for the first four years, were early bitcoin and deep crypto people; who were unhappy with the fact that Bitcoin and the other alts did not seem concerned about the core issues at all. They gave us over 1200 bitcoin I think, over several years and did not ask for anything in return.
The early Skycoin devs were doing academic research, architecture and new algorithms. Prototyping and simulation. The later stage people were more project managers and doing implementation.
We did four ICOs for small amounts, to fund development and to allow developers working on the project to buy in. The first ICO I remember was at $0.10 per coin and the price now is about $4.00 per coin, so its up ~35x or 40x, but when you consider the Bitcoin price going from $100 to $3000, the increase has not been so much. lol (edited)
arc-over-water With the price up 35x in about 1 year, is it not now time to cool the run up and release another ICO? At what amount of coins released and what procedure?
mike Would Intel Edison or Joule, or Samsung Artik 10 work well as a Skywire wireless node? They have 2 Gb-8 Gb RAM, 8-64 Gg eMMC storage, 802.11n wireless, bluetooth, and some with Zigbee?
synth
Have you personally been in Sky from the start? What members have? Who allocates the ICO money etc... I hope you understand that decentralization with investment is a two edged sword, we invest in people but we cannot know these people.... So... we question.
I think there wer three different groups that merged together in first three years, that had similar objectives. Because the code was in different language. There was python, C code and then eventually golang and the golang code became the basis for the current codebase.
The way the coin allocations work, is that it requires unamimious consent for releasing coins and it has to be for a specific, ear marked purpose and can be blocked by any of the devs.
Then there is a pool of coins in bitcoin for various project managers to allocate. And that is an operational fund for paying developers, contractors, marketing etc. Then different people have different responsibilities.
Then we also have corporate funding and sponsorship and some companies paying our full time devs etc, which helps a lot.
arc-over-water Silicon Valley (TV SHOW) recently had their decentralized web running on a network or refrigerators? So i would guess, smart phones, smart gadgets? Home gadgets etc could add services and receive rewards from Sky?
mike best would be a totally open source and publicly audited manufactured system on a chip for the nodes to prevent any backdoors. Even chip designers now don't really know what they're putting into the chips since they just drag and drop black boxes known as IP cores into the ASIC designs.
synth
With the price up 35x in about 1 year, is it not now time to cool the run up and release another ICO? At what amount of coins released and what procedure?
I think the Skycoin price has been doubling every 40 days, for as long as I can remember. However, it will still be years before it is in the top 20, its still a long way to climb. It took bitcoin years to go from 0 to $1, even though it was growing at 1% per day the whole time for six years.
best would be a totally open source and publicly audited manufactured system on a chip for the nodes to prevent any backdoors.
we are going to use arm
arc-over-water IOTA is also working on their own hardware for nodes etc, Trinary asset is JINN
synth all intel and AMD systems have remote management engine backdoors. So they are not safe for storing large amounts of coins.
We also have alpine linux and special version of linux, that is 6 MB and has everything that is needed for running our toolchain. It will not have any binary blobs in the kernel or anything that we cant compile from source. It does not have systemd and does not have gli, but uses musl. And does not have openssl.
mike so looks like the Samsung Artik 5 and 10 can run it no problem, they're ARM based. 25x35x4mm package for the Artik 10, Artik 5 is smaller, less powerful but has 2 separate antenna ports, nice for mesh networking with an omni and a directional antenna.
earlyarkinvestor how does Ark compare to Lisk?
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earlyarkinvestor isn't Lisk trying to achieve interoperability between blockchains as well
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mike nice! looks like an ARM based server rack
let me know if you need any help with it, see you're on solidworks, which I run as well.
synth this is the skycoin cluster; it has 8 CPU boards; 4 cores per CPU, 2 GB of ram per CPU and 64 bit ARM processor. Only one program will run on each individual board, so there is compartmentalization and a physical gap so that compromising one process on a system does no allow all other processes on the system to be compromised
mike looks like 2 ethernet ports per board.
synth and the hardware does not have the qualcom backdoors and is actually chinese equipment; and the backdoors are normally at the kernel level because they are not at hardware backdoors yet
lol
mike do they have SATA ports, maybe M.2 for storage?
synth and we will hav an ARM openwrt router eventually too
this model does not have SATA, but we have a model with SATA; you could hook up 16 2 TB drives, lol and download half the piratebay to your cluster (edited)
the skycoin infrastructure is cluster based and designed for running across +300 computers, with one "node" deployed per computer. Eithe a CXO storage node, or a skywire SDN/meshnet node, or a VPN end point node or a consensus network, or skycoin node, etc. We have multiple node/application types.
so this is a "personal cloud' by itself
its not like StoreJ where you have other people storing your stuff; you are going to have ~5 clusters and 300 computers and can store your own files, on your own internet, on your own hardware. You do not need to go outside of your own network.
mike Have thought it'd be nice to have a board with an array of M.2 sockets to run SSD arrays without all the cables, have the busses shielded in circuit board.
synth yes, i think there will be m.2 eventually
these actually use a microSSD for storage, and its 48MB/s
mike any idea on the pricing on your ARM boards in quantity? We are looking at Intel for Bitseed V3, but ARM would be good to stay with, especially using your boards if there is SATA.
arc-over-water Do you have a general idea of usable functions to be released next in what order? The first release was the Coin and wallet, then the ICOs and can you give a general future with dates if you can
synth the boards are $30 each and the memory for solid state, is actually more than the the cost of the CPU/RAM/board now. Which is sort of insane.
mike so you have microSSD, what's maximum size? we shipping 1with Tb hard drives right now
synth Bitseed mike is going to help with this; so we can pool the boards and do a custom PCB
mike yes, that's where we see the price jumps, is in RAM and eMMC costs.
and it's hard to find low cost boards with SATA
synth try the orange pi
the price goes up 30% for SATA
mike yes, very nice specs.
synth eventually, we will make one that has custom PCB and is a pluggable blade server, I think.
mike I like the Samsung Artiks for the tiny form factor for drone routers, cubesat/picosat possibilities.
but like the fact that you are controlling much deeper down the supply chain with your boards.
synth we only need ram, CPU, then microSD slot; and that is it. so the wifi and all this other stuff is just crap and its junk. We only have communication, storage and computation. So should be minimialist.
submitted by Jarunik to ArkEcosystem [link] [comments]

Forcenet: an experimental network with a new header format | Johnson Lau | Dec 04 2016

Johnson Lau on Dec 04 2016:
Based on Luke Dashjr’s code and BIP: https://github.com/luke-jbips/blob/bip-mmhf/bip-mmhf.mediawiki , I created an experimental network to show how a new header format may be implemented.
Basically, the header hash is calculated in a way that non-upgrading nodes would see it as a block with only the coinbase tx and zero output value. They are effectively broken as they won’t see any transactions confirmed. This allows rewriting most of the rules related to block and transaction validity. Such technique has different names like soft-hardfork, firmfork, evil softfork, and could be itself a controversial topic. However, I’d rather not to focus on its soft-hardfork property, as that would be trivial to turn this into a true hardfork (e.g. setting the sign bit in block nVersion, or setting the most significant bit in the dummy coinbase nLockTime)
Instead of its soft-HF property, I think the more interesting thing is the new header format. The current bitcoin header has only 80 bytes. It provides only 32bits of nonce space and is far not enough for ASICs. It also provides no room for committing to additional data. Therefore, people are forced to put many different data in the coinbase transaction, such as merge-mining commitments, and the segwit commitment. It is not a ideal solution, especially for light wallets.
Following the practice of segwit development of making a experimental network (segnet), I made something similar and call it the Forcenet (as it forces legacy nodes to follow the post-fork chain)
The header of forcenet is mostly described in Luke’s BIP, but I have made some amendments as I implemented it. The format is (size in parentheses; little endian):
Height (4), BIP9 signalling field (4), hardfork signalling field (3), merge-mining hard fork signalling field (1), prev hash (32), timestamp (4), nonce1 (4), nonce2 (4), nonce3 (compactSize + variable), Hash TMR (32), Hash WMR (32), total tx size (8) , total tx weight (8), total sigops (8), number of tx (4), merkle branches leading to header C (compactSize + 32 bit hashes)
In addition to increasing the max block size, I also showed how the calculation and validation of witness commitment may be changed with a new header. For example, since the commitment is no longer in the coinbase tx, we don’t need to use a 0000….0000 hash for the coinbase tx like in BIP141.
Something not yet done:
  1. The new merkle root algorithm described in the MMHF BIP
  2. The nTxsSigops has no meaning currently
  3. Communication with legacy nodes. This version can’t talk to legacy nodes through the P2P network, but theoretically they could be linked up with a bridge node
  4. A new block weight definition to provide incentives for slowing down UTXO growth
  5. Many other interesting hardfork ideas, and softfork ideas that works better with a header redesign
For easier testing, forcenet has the following parameters:
Hardfork at block 200
Segwit is always activated
1 minutes block with 40000 (prefork) and 80000 (postfork) weight limit
50 blocks coinbase maturity
21000 blocks halving
144 blocks retarget
How to join: codes at https://github.com/jl2012/bitcoin/tree/forcenet1 , start with "bitcoind —forcenet" .
Connection: I’m running a node at 8333.info with default port (38901)
Mining: there is only basic internal mining support. Limited GBT support is theoretically possible but needs more hacking. To use the internal miner, writeup a shell script to repeatedly call “bitcoin-cli —forcenet generate 1”
New RPC commands: getlegacyblock and getlegacyblockheader, which generates blocks and headers that are compatible with legacy nodes.
This is largely work-in-progress so expect a reset every couple weeks
jl2012
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Interview with a Dev : Hilux Coin

Interview with a Dev : Hilux Coin
https://preview.redd.it/uztu8ill8lg11.png?width=128&format=png&auto=webp&s=12593559662df6a618a9e96069f422fe740f9cfa
Hilux is a new coin that was just launched on August 3rd, 2018. Hilux aims to help solve the problem of hyper inflation which many counties like Venezuela are facing.
Hilux specs: Ticker: HLX Algo: x16r Type: MN/POW Max Supply: 21,000,000 MN Collateral: 1000 Block Rewards: 20 HLX (mn 60%, pow 40%) Premine: 5% Block time: 2 minutes
The following is an interview with Swatchie-1 the founder of Hilux Coin.
Could you explain your project Hilux Coin briefly for our readers that are not already familiar with the project?
Currently, FIAT currency is what we use in our day to day transactions. A FIAT currency is a government backed currency (example: US Dollars, British Pounds, Peso, Singapore Dollars) which is not backed by any physical commodity and it derives its value from perceived value by the community. This is why when a Government needs money, it prints as much as it needs causing too much FIAT currency circulation in the market resulting in what we call Hyper-Inflation. Historically we have seen this happening in Venezuela (24000% inflation in the past 12 months, Iran (200%) and South Sudan (110%). The list goes on but based on these 3 countries alone, we see how much buying power is being reduced at a daily basis. What this means is, if an iPhone costs 1 million Venezuelan Bolivar in 2017, it will cost 24 million Venezuelan Bolivar in 2018. See the difference?
The world has found a solution now and it is through Crypto Currencies. The purpose of Hilux Coin is to address this issue and allow a safe, reliable and decentralized transfer of value between anybody in the world who has access to an internet connection. Why is being decentralized important? This is so that no single party can dictate how many Hilux Coins should be produced and to obtain Hilux, one would need to either purchase it or Mine it. Mining takes work, equipment and costs, hence it is not free. Hilux also has a limit of 21 million coins which is not that much considering the population of the entire world.
The mechanics of Hilux Crypto Currency is the opposite of FIAT currencies. It can be traded world-wide with no middleman involved, its limit cannot be increased without consensus from 51% of all miners and Masternode Owners. This system is fair and just because the stakeholders want the best of their investment and should not make irrational decisions that will jeopardize his/her holdings. It is also decentralized which doesn’t allow anybody to come in and shut it down because the Hilux Nodes are running all across the globe. If one country shuts it down, the other nodes will still maintain the Hilux Ledger and can still be connected, hence a Hilux user can still access his or her wallet. We have made sending and receiving Hilux coin easy by providing a Hilux Mobile Web Wallet facility at https://wallet.hiluxcoin.com. This provides access to the unbanked people in the world. For example, a user in South Sudan will be able to send value to their children studying in Singapore through the Hilux Mobile Web Wallet without going to a money changer or Western Union. It is simple to use because the receiver or sender do not need to run a Full-Node of Hilux in order to gain access to a wallet. We also recently have a Discord Hilux Wallet which allows you to send Hilux (HLX) to Discord users too. I suggest readers to check out our discord at: https://discord.gg/gqzpeWH
Could you tell us a little bit about your programming history and experience with blockchain technology?
Our core team has different sets of skill sets including JavaScript, Python, html and pug programming. This allows us to ensure the Blockchain is fair, being as secure as possible and able to build core infrastructures for the Hilux Coin. This includes the Mobile Web Wallet, Mobile Explorer, Official Dev Pool and the website on our own without external funding and programmers. As a result, we are a lean team, with our own initial funding hence we want to see the coin succeed as much as a mother wants to see her child grow into becoming a useful person to the community.
What inspired you to create Hilux Coin?
As aforementioned, there are governments which do not generate FIAT currency responsibly. Before 1933, the US Dollar was backed by Gold. However since then, it was not backed by Gold anymore and we need to address the issue of scarcity and not unlimited money printing. The Hilux Cryptocurrency is a solution for value transfer for the world due to decentralization, scarcity of 21 million HLX only, securely distributed around the world through Masternodes, Miners having to do work to secure the network and low fees of transaction.
There’s been quite a few coins launched in the past year. In your opinion, what sets HLX apart from other coins and makes it unique?
Yes, I’m glad you brought this up. There are two main types of method to build the blockchain at the moment, which is Proof of Work (PoW) and Proof of Stake (PoS). Proof of stake can also mean using Masternodes to stake. Most coins out there are either PoW or PoS exclusively. However, Hilux uses a combination of both sort of like a Hybrid. We call this Proof of Work and Masternode Hybrid. There are only a handful of Hybrid types out there out of all the coins available in the world.
Secondly, Hilux uses the X16R algorithm for its Proof of Work mechanism. This X16R was invented by Ravencoin and we give them credit for that. It is a combination of 16 algorithms randomly re-arranged at each block hence it is a little more ASIC resistant than other coins such as the X11 used by Dash. The reason why we prefer ASIC resistant coins is to encourage decentralization because normal CPU and GPU owners can use it to mine at reasonable speeds compared to ASIC owners who will obtain high hashrates at lower cost and this displaces the CPU and GPU owners which is not what we want. ASIC causes centralization of hashrates. If the ASIC owner decides to switch off or shift to another Coin, then there is going to be a huge vacuum of hashpower lost which is not healthy for the blockchain.
Third, our distribution of block reward is 20 and out of this, 12 goes to Masternode Owners (60%) and 8 goes to the Miner who solved the block (40%). This is a healthy ratio which encourages Miners to mine and earn their own Masternode which is a good incentive for them. We also did not do any Developer reward program, for example, 5% of the block rewards going into the Developer’s pocket. This is because we are a community coin and there is no one developer controlling Hilux forever. Again this is part of becoming decentralized.
HLX is a Proof of Work (minable) and Masternode coin. I haven’t come across too many coins yet using this combination. The majority are either POW, POS, POS/MN or ERC20 Tokens. Could you explain why you decided to go with the POW/MN format with Hilux Coin?
Yes, we addressed some of this in the previous question. The simple answer again is:
On one hand, it provides incentives for the miners to mine and on the other hand, it encourages Masternode owners to run the full node at all times. This is due to the block reward of 60% Masternode Owners and 40% Miners.
What is your number 1 goal to accomplish with this project?
To see worldwide adoption of Hilux as a community coin where developers from around the globe would contribute to the Github of Hilux and providing commits to improve it. Whether big or small, any improvement is a step forward for Hilux.
We need to continue building infrastructures around Hilux.
Because we now have a stable Blockchain, we can build centralized features around the decentralized blockchain. We cannot however do the opposite which is building a decentralized feature on top of a centralized entity. For example, we can now build a hosted mobile wallet to access the Hilux Blockchain. We can also build a hosted marketplace for trading on top of the blockchain and a mining pool on top of the blockchain. This is where community adoption comes in.
Aside from Hilux, what are some other projects you admire?
I have seen many projects out there which has got nothing to do with the blockchain but are creating a project just for the sake of having a blockchain name attached to their project. These are mostly Utility Tokens. In a simple explanation, Utility Tokens are projects that require a user to buy their tokens to gain access to their project or App. For example, a ride sharing app on the iPhone that requires you to use their token to pay for rides. In my opinion, this is unnecessary because we should be using FIAT to do it and conversion back and forth is a hassle and it doesn’t bring much economic benefit. Also, these projects are highly centralized. If one day the founders decide to close the company, your tokens will be worthless. This is not the case for Hilux where if one day the founders decide to leave, Hilux will still be around.
Back to the question of which projects I admire, it’s going to be Bitcoin. It is the father of all cryptocurrencies and our cryptocurrency is here because of it. However, there is room for more than one cryptocurrency in the market just like there is the US Dollar, Swiss Francs, Canadian Dollar, Australian Dollar and others.
What do you see as the biggest hinderance to blockchain technology and the use of crypto-currencies advancing?
The usual answer we get for this question is Government Regulation. Governments do not like it when they do not have control of money in their country. This will cause their monetary policy of money printing to go haywire because the citizens have options of cryptocurrencies. But what gave rise to Crypto Currencies was also because of the 2008 financial crisis which caused governments to perform Quantitative Easing (printing of US Dollars). In fact, they did it a few times. That was when people realized cryptocurrency may be an option.
However, government censorship will not be sustainable, hence it is not a long term hinderance. The long term hinderance in my opinion is the existence of Quantum Computers. If this technology becomes a reality and is accessible to people, it may destroy all blockchains and causes centralization. It will be able to mathematically solve all blockchain calculations rendering all semiconductors useless against it. Difficulty of the block will sky rocket and the block will become stuck. Until then developers will need to find a new solution against it.
In your opinion how far away are we from a worldwide adoption of blockchain technology?
We are like in the 1993 era of the Internet. It is still early and anybody who comes in now will be able to ride the wave upwards. Worldwide adoption is already beginning. We just need to make the blockchain easier to gain access to. We are doing exactly that by announcing the Mobile Web Wallet as our first product when we launched.
Are there any additional comments you’d like to add?
Firstly, I would like to thank Coin Space News for allowing me to voice opinions. I hope your readers have gained a little insight on what is the current world situation and what to expect in the future. When we select a Coin to invest in as you rightly pointed out there are many out there, one should look for:
-Scarcity of the Commodity. Hilux has 21 million only -Usefulness of the Commodity. Hilux is easily transferable and has low transaction fees. -Long term sustainability. Hilux will be around even if the founders are not. -Decentralized. No one party holds the key to keeping Hilux alive. -Continuous improvement. Hilux is always building infrastructures.
Also, if you like what you read, I would encourage you to follow our: Twitter Feed: https://twitter.com/HiluxC Discord: https://discord.gg/gqzpeWH Bitcointalk: https://bitcointalk.org/index.php?topic=4780650.0
Thank you and regards, Swatchie-1
submitted by CoinSpaceNews to AltcoinGlobal [link] [comments]

Truth about Ethereum is being banned at Bitcointalk

I have been making factual posts about Ethereum (and Synereo) and all the following posts have been deleted by the moderators and they have banned my username for making factual posts about Ethereum.
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.
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Quote from: damn_the_truth on Today at 05:06:30 AM TPTB_need_war was banned for 3 days for writing in big red letters that "Ethereum is broken and can't be fixed" and proceeded to defend this point factually.
And so the mods have now demonstrated they are involved in the pump of Ethereum.
So much for the objectivity of this forum.
They allow excessive trolling and scams no problem though.
Note TPTB_need_war posted the same statement about ETH in three threads, because suddenly 5 or 6 new threads all about pumping Ethereum appeared today. If the pumpers can make three threads, then why can't they all be rebutted? They can spam, but the opposing opinion and facts can't be. As if the opposition is the spammer but spamming the Altcoin Discussion with a proliferation of Ethereum pump threads is not spamming. Roll Eyes
The thread that in particular incited me to post so forcefully in opposition is the one that as a title implying if Ethereum will go challenge Bitcoin's market cap. That is clearly manipulative of the readers inducing them into a mania based on some totally implausible proposition. How can a broken block chain design that hasn't solved the most fundamental issue pertaining to verification and scaling of long-running scripts have any chance of challenging Bitcoin's market cap. Ridiculous.
Someone may want to quote this, as surely the drunk mods will delete this and permanently ban ban_the_truth (and probably they will permanently ban TPTB_need_war).
Doesn't Theymos understand that you can never silence a person who knows he is just and correct. A person will fight to the death when they know truth is on their side. And will eventually win. Those who try to obscure truth will always eventually lose.
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Quote from: WilderX on Today at 08:36:10 AM y0 newbs, you talking about issues with mining? Did you know ETH goes POS this year?
Yo clueless n00b, do you not understand the PoS doesn't rectify the fundamental flaw in the economics of the verification of long running scripts that I explained upthread and for which I have been banned for trying to point out in the numerous threads pumping Ethereum that spammed the Altcoin Discussion forum today.
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Quote from: stoat on Today at 05:58:42 AM You still don't get it do you? The hype for ethereum is actually real. As in, it's our best hope. And people who actually want crypto to succeed as an idea will get behind it.
Oh because it is our only hope, then we have to ignore the fact that after more than a year since they took and spent ICO money, they still haven't solved the most fundamental issue of the block chain technology required for long running scripts (if they want scaling and decentralization).
Put Vitalik in a live debate with me right now and I will be able to force him to admit that is the truth.
Or ban_the_truth so you can sucker more n00bs into being bagholders to the insiders can cash out.
Quote from: stoat on Today at 05:58:42 AM Tptb want war, well, the entire time ive visited this forum he is either wasting everyones time with mental masturbation or simply stumbling from thread to thread FUDDing down every coin that would dare to challenge his "intellectual superiority".
Because you are not interested in actually solving the core technical challenges that inhibit cryptocurrency from scaling out to the masses and being compatible with marketing strategies that can do so, such as the one I will drop on the world.
All you want is something you can pump up. And you want it sooner than it is ready. And so thus you think I am not worthy, and you think the broken Ethereum is.
I never took $millions of ICO while I was researching and developing the solutions we need. Ethereum did and still didn't solve the most basic issue they need to.
Whereas I have solved the major fundamental issues. Sorry if the good stuff takes time. If you are in a rush, then feel free to give your money away to those who are willing to take it.
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Quote from: Elokane on January 25, 2016, 12:56:02 PM
Quote from: TPTB_need_war on January 24, 2016, 05:27:06 AM
Quote from: CoinHoarder on January 24, 2016, 03:28:48 AM I think social media can possibly be taken over by cryptocurrency/decentralized/blockchain technology. Think about it... Facebook has a market capitalization of 266.3 billion. What if a portion of their net profit was distributed to its users instead? Which service would you use... one that makes money off of you providing you nothing in return, or one that pays you to use its service? There are likely a few projects attempting to capitalize on this space. The only one off the top of my head I can name is Synereo and I am on the fence as to whether it is is a legit project or a P&D... I am waiting on the sidelines for now. http://www.synereo.com/
I will respond to the rest of your informative post later (as I need to go outside on this Sunday).
I think Synereo may be conceptually on the right track, in that ads should preferrably be content that users want to see. I can envision content providers being creative in how they advertise products within enjoyable content. The bottom line is the economics per my prior post in reply to TechorMarketing. There were one or two ads on Google that were so interesting to me, I wanted to save a copy of the video ad. Meaning the way to beat Google is by making the advertising more efficient, thus superior ROI for all participants (advertiser, content creator, and viewer). If the superior algorithms require decentralization and cutting out the middle man, then Google with all its technical prowess can do nothing to compete.
Spot on!
Quote I only scanned a portion of their white paper. I believe they may have Sybil attack problems in their attention model (thus being gamed and not having the result intended), but I can't yet judge that with any certainty as I need to study it more carefully.
You've given me something very intellectually deep to chomp on, so thank you. I love conceptual paradigm shifts and I like to analyze models. I will need more time on this.
Looks to me as though they are serious. The devil is in the details on their technical model. They have a brainy looking CSO mathematician, so perhaps some of the model theory is originating from him.
The attention model is mine. We've designed it carefully against Sybil attacks. If you think you've identified an attack vector, do let us know -- I'll give you with an AMP bounty for it.
Feel free to join our Slack channel at slack.synereo.com and chat with us there directly.
So you must be younger guy Dor who I've viewed in the Hangout videos in the Synereo channel on YouTube?
Quote from: Elokane on Today at 12:01:35 PM It is common knowledge that Greg, Synereo's CSO, is leading the design of Casper, Ethereum's new proposed Proof of Stake blockchain: https://blog.ethereum.org/2015/12/28/understanding-serenity-part-2-caspe He has spoken about the design principles of the technology underlying this effort, what would allow it to scale, in the recent Ethereum developer conference: https://www.youtube.com/watch?v=uzahKc_ukfM
Synereo is NOT building their technology on Ethereum. Rather, it is Ethereum who are using Greg's decades of expertise in the field, and Synereo technology, to build their own.
Ethereum has provided Synereo with developer grants for this purpose. Hopefully, collaboration will continue in other ways as well. We also believe that our notion of a "smart contract", which we call a social contract, is more advanced, mature and scalable than anyone else's. People in the industry are starting to get a sense of this as well, including our friends at Ethereum. http://blog.synereo.com/2015/03/06/social-contracts-pt-ii/
A comprehensive post going into detail about all of these subjects are in the works.
Feel free to ask any other question about this here or on our slack channel at slack.synereo.com.
And appears Greg is the greying long-haired mathematician in Seattle that I've viewed on the same videos.
I am doing an in depth study of your system and I am not yet ready to offer all my feedback because I am in the midst of analyzing it.
However I do want to start with a few observations.
First I want to thank you for providing those Hangout videos because I am gaining much information from listening to the feedbacks from the musicians. That has been very useful for my marketing research.
  1. Greg asks what can a decentralized Synereo do that centralized SoundCloud can't do, and Dor replies that the bandwidth (he said "distribution" but I assume he means download and streaming bandwidth) costs become free because they are provided by the users. Unfortunately this is incorrect. Decentralized filesystems will not work and are theft socialism (stealing from those who pay, to redistribute to those who didn't pay for it) models as I explained yesterday. For context, make sure you understand how I explained to Bittorrent in 2008 that their optimistic choking algorithm was a theft socialism model and was apparently ignored with the result now that we have government takeover of the internet underway via Net Neutrality. Note that Matt the owner of Ninja Tunes music company precisely nails this point later in the video and explains why distributed files systems can't handle legality. Furthermore, Matt astutely explains that copyright infringement can get Synereo in legal trouble and Greg retorts that decentralized systems can't be legally attacked, but what is forgetting is as I pointed out yesterday, that the Synereo system can be banned by Hosting providers (because they are culpable) and thus all files would need to be stored and served from users' computers which has severe issues I had explained.
  2. I will expend some time studying Casper's design, but I already watched some videos of Ethereum presentations about the strategy for shards and proofs against cheating in the attempt to achieve decentralized scaling with verification of long-running scripts. And I have explained why it will never work. I have an entire thread dedicated to discussing the finer issues with block chain consensus and the CAP theorem is fundamental. Essentially you can't use propagation as a consensus rule thus proofs against cheating will fail as methodology. You simply can't solve the Tragedy of the Commons verification problem without centralization. Period. You will eventually face come to this realization that your ideas are fundamentally flawed and can't be fixed.
  3. An attention model based upon users approvals is probably going to suffer from the same phenomenon I observed when I asked my gf why she was rapid clicking every Like on her timeline without even reading the posts. She said because they are my friends and will Like all my posts also. But I need to study your model in detail in the white paper before I can comment further on it.
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Quote from: tokeweed on Today at 09:55:40 AM I appreciate that you're trying to get your argument out. And you do have some points to think about. But this is a time of less talk and more trades. There's profit to be made in this current price run, which could be one of the largest runs we've seen in altcoins.
You can't speak for all readers, because you are not all readers.
Those of you who bought Ethereum at lower prices are in a different risk situation compared to those who are reading your pumping and considering whether to buy at these nosebleed levels.
I am not making any guesses about whether the price will go much higher or not (manias often do).
Rather I am providing balancing information for those readers who might think they can't lose because of some fundamental long-term value, which I assert does not exist because Ethereum hasn't solved the fundamental technological issue required to scale their system in terms of decentralized verification of long-running scripts. And in fact, they will not be able to solve this problem, not with Casper or anything else because it violates the CAP theorem.
The only solution will end up being centralization and then therefor those who are talking about building decentralized apps on top of Ethereum (e.g. this Synereo which I will be commenting on next) are apparently in technical delusion also. Btw, I have been watching the YouTubes of this Greg @ Synereo who I just read is claimed to be the lead dev on Casper, and I will be explaining that he doesn't seem to understand block chain consensus technology.
Stay tuned, this is going to get much more informative and interesting...
(sorry again that TPTB_need_war remains banned by drunken mods for 3 days so ban_the_truth must communicate interim)
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Quote from: Elokane on Today at 01:16:08 PM 2. Well, we think we have a solution! Would you like to take a look at the post Greg is writing on the subject? We'd value your direct feedback on it. This approach is different from the one Ethereum espoused before, and both Vitalik and Vlad are working with Greg to develop it now.
Will do after I finish watching the video.
Quote from: Elokane on Today at 01:16:08 PM 3. We have a mechanism taking into account a few parameters to make it so people who behave in exactly the way you describe have very little, if any, impact on this economy. Generally, we're looking for actions that have high entropy; if "B", your GF, is essentially a copy of "A", you, there's very little information there.
Is that specifically covered in the white paper or a design improvement hence?
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Quote from: Elokane on Today at 01:23:51 PM He's providing valuable constructive feedback, which we always welcome!
Thanks. Academics understand their life is finite and thus peer review in valuable so they don't waste time down a dead end.
A welcome change in tone compared to others who attack me relentlessly for trying to share/collaborate on research and analysis.
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Quote Another thought off the top of my head is where Greg explains why the bar of implementation is so much higher and Dor astutely points out that they are competing against very well entrenched and well vetted user interfaces (Facebook, etc).
I appreciate that honesty and I believe in separation-of-concerns, orthogonality, and modularity, because no only it provides more degrees-of-freedom, but it also means you don't have to necessarily implement everything yourself. It may be better to let others build those user interfaces for example from an API. But this is very complex to analyze because of the integration with the complexities of the attention model, etc..
I am just cautioning you that building all yourself, meaning you are limiting the network effects and making the scalability of the system (from the programming standpoint) funnel through your one organization.
I am thinking about a marketing strategy that is much more modular and encourages others to build on top of what my project would provide. But I am also thinking about how what I am contemplating is differentiated from what Synereo is proposing and whether there are collaborative opportunities or... (conclusions still not yet clear to me)
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Quote I need to correct an error I made upthread. I stated that the reason payers would not pay for ASIC mining farm to compute the PoW share the payer must include with the transaction, would be because the PoW share could be computed locally faster than the latency for a round-trip network request for the PoW share generated on the lowest cost ASIC mining farm. And I stated that this was because the payer would sign the PoW share, so the "provider" receiving the transaction (with the attached PoW share) would not be be able instead compute the PoW share for the payer (without the round-trip latency delay). I had stated this was a difference from Iota's design which can't allow payers to sign PoW, because Iota's defense against certain attacks requires that anyone can recompute the PoW share and reattach a transaction to a different branch of the DAG.
That will not work in my design because the payer has to do a roundtrip request to request the current "intra-block chain" hash from a "provider" to include in the PoW share (otherwise the same PoW share could be submitted to multiple providers and thus payers have no vote in the LCR). Therefor the PoW share computation can be outsourced at no extra latency cost.
However on further analysis this does not entirely weaken the intent of my design to remain decentralized. The key is the power remains in the hands of the payers to choose which provider to submit their transaction to and thus can choose to route away from any malfeasance (since they are paying for the PoW share via a transaction fee to the provider). Although it means mining capital costs will be reimbursed (unlike in the case where the payers' computers would compute the PoW share then the non-payers mining capital costs would be unreimbursed given the block reward would be 0 or very small relative to the difficulty), mining equipment will not be wildly profitable as in the case for Bitcoin since the reimbursement is only for costs, thus still the point remains that mining equipment won't be well capitalized for making LONG-TERM 51% attacks on the protocol (even if forced to by regulation as could be the case in Bitcoin) because the payers can send their PoW share computation else where in a heart beat.
This also makes more sense because mobile users are not going to want to compute PoW shares and drain their battery.
One issue is a mining farm located next to a hydropower plant would maybe have (including better economy-of-scale capital costs on equipment) up to a 10X cost advantage over a provider server that is located any host any where.
Perhaps the latency to the mining farm could still be an issue (delay the transaction by another sub-second perhaps) and this could force providers to be located in the datacenters of mining farms to lower latency (which would be catastrophic to remaining decentralized since the choice of providers available to payers would be limited by such confining requirements). OTOH if the cost of the PoW is miniscule relative to the value of the transaction, then PoW share can be computed by a provider with up to 10X greater cost without impacting the payers decision which provider to choose. But remember also that the computation cost of the PoW share needs to be much greater than the validation cost of the transaction overall, but that should be doable since transaction verification is such a miniscule cost.
Again remember I suggested that payers' clients (wallet software) could be induced to move to other providers when a providers PoW share exceeds 5% or so.
Also it is not impossible to design the system such that payers are always listening for the current "intra-block chain" hash updates and so the original point of my latency design could remain. But this would require all payers to be receiving communications from the block chain network at all times, which would increase network load and there are Sybil attack and centralization issues about who pays for this (perhaps payers can pay a provider to provide this data feed). So it is not impossible to envision retaining my original design, but it seems to be workable only for desktops and not for wireless mobile.
If latency becomes the main issue for wireless mobile then telcoms may have the upper hand any way. So it seems that the key is to keep PoW shares small enough to be miniscule relative to typical microtransaction values yet large enough to be greater than the verification cost. Also PoW has to be large enough to prevent spam on the network (which is essentially saying significantly larger than the verification cost, since the storage cost will be assumed to be even lower than the verification cost but I need to run some calculations to confirm this intuition).
I am probably missing a few details in this quickly written post. The entire design could be explained more coherently in a white paper (hopefully forthcoming).
P.S. Note that Iota has the similar issues, and this aspect of Iota was not my main concern expressed upthread about Iota's ability to remain Consistent about double-spends and whether that will lead to divergence (chaos).
Note the above post was deleted by the mods, so I am reposting it. Someone may wish to quote the above technical discussion before some drunk mod goes "happy finger" again.
submitted by TPTB_need_war to ethtrader [link] [comments]

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