12 Biggest Bitcoin Mining Calculator Tool in 2020

NiceHash - buy & sell hashing power

NiceHash offers you to buy or sell hashing power directly, no contracts, no limitations, pay-as-you-go if you're a buyer and be-paid-as-you-go if you're a seller. Why bother renting rigs, when you can rent hashing power? NiceHash brings more to renters and rig owners. Visit https://www.nicehash.com today! Simply create order and you are already mining your favorite coin or point your rig to our stratum server and you are already earning bitcoins.
[link]

Crypto mining is another path to earning bitcoin online. But whats crypto mining? Miners are the back-bone of the blockchain. Using specialized hardware

Crypto mining is another path to earning bitcoin online. But whats crypto mining? Miners are the back-bone of the blockchain. Using specialized hardware submitted by fortnite4technics to u/fortnite4technics [link] [comments]

Great British Pound Token (GBPT) - online store that will offer electronic products from the top 10 Electronics brands & offer the Best Bitcoin Mining Hardware (Bitmain)

http://cryptocentral.info/topic/3965/great-british-pound-token-gbpt-online-store-that-will-offer-electronic-products-from-the-top-10-electronics-brands-offer-the-best-bitcoin-mining-hardware-bitmain
submitted by cryptocentral to ico [link] [comments]

Sequestrati 20 milioni di dollari in bitcoin, hardware per mining, stupefacenti e oltre 100 armi da fuoco nel mercato nero online

submitted by Tyson78 to criptovalute [link] [comments]

02-26 14:23 - 'AntRouter R3 – 3 in 1 mining hardware from Bitmain (Upcoming)' (cryptocurrencyweb.online) by /u/Rupamkb removed from /r/Bitcoin within 76-86min

AntRouter R3 – 3 in 1 mining hardware from Bitmain (Upcoming)
Go1dfish undelete link
unreddit undelete link
Author: Rupamkb
submitted by removalbot to removalbot [link] [comments]

Getting into Bitcoin

Good afternoon people of reddit.
After being interested in Bitcoin for a few months and making my research around I have found a lot of good stuff about Bitcoin and I would love to get started. The one thing that I can’t is exactly what prevents me from starting.
What are the best wallets and why are there different ones? Where do I buy bitcoin? Is mining even viable right now? How do I get started?
submitted by JARV-PT to Bitcoin [link] [comments]

The Unofficial Cardano FAQ - V3

(if you would like to add information or see mistakes, just comment below and I will credit you)
What is Cardano? Cardano is an open source and permissionless "Third Generation" blockchain project being developed by IOHK. Development and research started in 2015, with the 1.0 mainnet launching in 2017. Cardano blockchain is currently being developed into two layers. The first one is the ledger of account values, and the second one is the reason why values are transferred from one account to the other.
  1. Cardano Settlement Layer (CSL) - The CSL acts as the ledger of account or balance ledger. This is an idea created as an improvement of bitcoin blockchain. It uses a proof-of-stake consensus algorithm known as Ouroboros to generate new blocks and confirm transactions.
  2. Cardano Computation Layer (CCL) - The CCL contains the data how values are transferred. Since the computation layer is not connected to balance ledger, users of the CCL can create customized rules (smart contracts) when evaluating transactions. (https://support.bitkub.com/hc/en-us/articles/360006678892-What-are-the-two-layers-of-Cardano-)
IOHK has the contract with an undisclosed party to develop the project until the end of 2020, at which point the community may elect another development team - on the assumption that the voting infrastructure has been completed. However CEO Charles Hoskinson has stated that they will develop the project until it is completed, and they are simply financed until the end of 2020.
Cardano was the first project built on a peer-reviewed scientific development method, resulting in dozens of research papers produced by IOHK. Among these papers is Ouroboros Genesis, proving that a Proof of Stake protocol can be just as secure as Proof of Work - which was originally developed for Bitcoin, and refined for Ethereum. This PoS protocol considerably lowers the resources cost to maintain network while still maintaining security and network speed.
Cardano as a financial infrastructure is not yet completed, With significant development to be rolled out.
What were the other two generations of blockchain? Gen 1 was Bitcoin. It exists by itself and talks to nobody but Bitcoin. It is capable of peer to peer transactions without a third party in such a way that you cannot cheat the system. This was a major step forward for the E-cash concept that people have been working on for the 20 years prior.
Gen 2 was Ethereum and other smart-contract platforms that allow other coins and platforms to be built on top of their infrastructure. These coins can interact with others on the platform, but cannot interact with other platforms. Meaning it is still not truly interoperable. Most Gen 2 blockchains are also using Proof of Work likes Bitcoin, which effects scaling. Also missing is a built-in method to pay for upgrades and voting mechanics for decision making.
Gen 3 blockchains are a complete package designed to replace the current financial infrastructure of the world. Cardano is using Proof of Stake to ensure security and decentralisation(Shelley). Scaling through parallel computation (Hydra in Basho), Sidechains to allow the platform to interact with other platforms (Basho), and also include mechanisms for voting for project funding, changes to the protocol and improvement proposals (Voltaire). Finally smart contracts platform for new and established projects that are developer friendly (Goguen).
Who is the team behind Cardano? There are three organisations that are contributing to the development of Cardano. The first is the Cardano Foundation, an objective, non-profit organisation based in Switzerland. Its core responsibilities are to nurture, grow and educate Cardano users and commercial communities, to engage with authorities on regulatory and commercial matters and to act as a blockchain and cryptocurrency standards body. The second entity is IOHK, a leading cryptocurrency research and development company, which holds the contract to develop the platform until 2020. The final business partner is Emurgo, which invests in start-ups and assists commercial ventures to build on the Cardano blockchain.
www.Cardano.org www.emurgo.io https://cardanofoundation.org/en/
What is the difference between Proof of Work and Proof of stake? Both these protocols are known as “consensus protocols” that confirm whether a transaction is valid or invalid without a middleman like Visa or your bank. Every node (active and updated copy of the blockchain) can agree that the transaction did take place legitimately. If more than half validators agree, then the ledger is updated and the transaction is now secured. Proof-of-Work (PoW) happens when a miner is elected to solve an exceptionally difficult math problem and gets credit for adding a verified block to the blockchain. Finding a solution is an arduous guessing game that takes a considerable amount of computing power to compete for the correct answer. It is like “pick a number between 1 and one trillion” and when you get it right, you get $30,000 in Bitcoin, so the more computers you have working on it, the faster you can solve it. Also the more people who are trying to solve the same block, the harder the algorithm, so it may become 1 in 20 trillion. The downside is the massive amounts of power required to run the computers that run the network, and the slow pace that blocks are solved. To “Hack” a PoW system, you need 51% of the computing power, which would allow you to deny transactions, or spend the same coin twice. At the moment there are 8 main mining operations for bitcoin, and 4 of them make up more that 51% of the mining power.
PoS instead selects a coin at random that already exists, and the person who owns that coin is elected to put the work in to validate the block. This means there is no contest and no guessing game. Some computer power is required, but only a fraction of a PoW system. The complex nature of selecting a coin that exists on the correct and longest chain and is owned by someone who can complete the block, AND in such a way that it is secure AND that computer currently running AND that person also having an incentive to complete the work, has made the development of PoS very slow. However only a few years ago it wasn’t even possible. In this method, the more of the coin (ADA) you stake, the more likely you are to be selected to close a block. Cardano also allows you to delegate your stake to someone else to validate the block so they do the work, and you share in the reward for doing so.
To “hack” a PoS blockchain you need to own 51% of the tokens, which is significantly harder than owning 51% of the computing power.
What is ADA and how is it different to Cardano? Cardano is the name of the network infrastructure, and can be thought of like a rail network. ADA is the native token that has been developed alongside Cardano to facilitate the network operation. This helps confusion and maintains distinction, compared to Ethereum being the native token of Ethereum. Similar to bitcoin or any other token, ADA can be sent peer to peer as payment, but is also the reward for running the network, and what is taken as transaction fees.
In this metaphor “Cardano” is the train tracks, that everything runs on. A stake pool would be the locomotive, facilitating transactions on the network while ADA is the coal that powers the locomotive. The train carriages are Decentralised applications (Dapps) that are also running on cardano tracks, but are not actively powering the network.
What is staking Cardano is a Proof of Stake protocol, and uses already existing coins like a marker to ensure security. The protocol chooses a coin at random and the owner of that coin is elected to validate a block of transactions. Staking is the process of adding your ADA coins to a Pool that has the resources to run the network. If the pool you have chosen to "delegate" your stake to is chosen to close/validate a block, then you get a portion of the rewards. The ADA never leaves your wallet, and you can "undelegate" whenever you like. this increases stability of the network and also gives an incentive to pool operators to invest the time and hardware required to run a pool.
What is a stake-pool and how does it work? Cardano.org FAQ on the issue goes into much more detail
A stake pool is where the computing power of the network takes place. During ITN there was 1200 registered stake pools while 300 were creating blocks. You can manage your own stake-pool or delegate your ADA to an already registered pool. Rewards are determined by the protocol, however the pool may elect to charge fee Percentages, or flat rate fee to upkeep their pool.
Can I Stake my ADA right now? The staking testnet has closed, If you participated in the Incentivised Test Net and earned rewards, instructions to check the balance are here.
However if you have just purchased some or it was held on an exchange, then you will need to wait until the Shelley mainnet launch happening at the end of July 2020.
Where do I stake my ADA? Daedalus Flight wallet, and Yoroi Wallet (as a chrome extension) are the current best options. Adalite and several other third-party wallets also exist. Coinbase will also allow staking as a custodial service, and many exchanges may offer “staking as a service” so you can leave your coins on the exchange and still earn rewards if you enjoy trading. I do not recommend leaving coins on an exchange unless you are actively trading.
What are the staking rewards now and what can I expect on a return in the future? The Incentivised Test Net (ITN) Delivered 10%-15%pa returns on average. The future of staking will most likely be lower, but will depend on the amount of ADA staked across the network and the amount of network traffic.
Check https://staking.cardano.org/en/calculato for a clearer picture.
what is a Pledge? To stop one person operating many pools, the rewards that a pool earns will vary depending on the amount of personal ADA they “pledge” to open the pool. This means that 50 pools with a 1,00ADA pledge each will be overall less profitable than 1-2 pool with the max ADA pledge (unknown but likely around 300k). Even if the 50 pools have the same over stake delegated by other users and have a better chance of being selected to close a block, the 50 pools may receive lower rewards.. (at least that is the theory)
Who is IOHK? IOHK is a for-profit software engineering company founded by CEO Charles Hoskinson and Jeremy Wood in 2015 that has taken a scientific approach to the development of blockchain. IOHK started with “first principles” and looked at questions like “what is a blockchain” and “what should a blockchain be able to do” rather than accepting the established paradigm of Bitcoin and Ethereum. IOHK was originally Input Output Hong Kong, but is now Input Output Global and is based in Wyoming USA employing over 230 staff. IOHK has established research labs in several universities in order to complete the Cardano project, and is also developing Ethereum Classic, Atala, Mantis and possibly other Blockchain related programs and infrastructure.
Who is Charles? Charles Hoskinson is an early adopter of cryptocurrencies, American entrepreneur and cryptocurrency specialist. Charles Co-founded Ethereum with Vitalik Buterin and 5-8 others, However he only worked on that project for approximately six-months. Charles is now the CEO of IOHK and the director of The Bitcoin Education Project.
Why isn’t ADA on coinbase? Cardano and coinbase have recently connected in a big way. With IOHK turning over all their ADA to the custodial services of Coinbase. This means that Cardano and Coinbase have been working together for some time and there is a strong partnership forming. Staking and cold storage will be available and trading on Coinbase will most likely become available after the release of Shelley (although no official word yet)
Why Doesn’t Cardano have a Wikipedia Page? Wikipedia has strict guidelines on what can be turned into an article. As there has been no coverage of Cardano from mainstream media or “noteworthy” sources, there is no article yet. Wikipedia will also not accept sources from IOHK as they are not considered “reliable” and must come from a third party. This will most likely change soon.
Cardano does have a dedicated community driven wiki
https://cardanowiki.info/wiki/Home
What is Atala and why do I care?*
Atala is a suite of services being developed on top of the cardano blockchain by IOHK that focusses on credential certification, for things like education, work history and degrees (Atala Prism). Product counterfeiting protection through registering products on a blockchain and create taper-proof provenance. This does not only apply to Gucci handbags, but also medication, art, and anything that can be counterfeited (Atala Scan). As well as supply chain tracking to see issues and inefficiencies with greater transparency(Atala Trace).
Im new, how much is a good investment?
Cardano is still a speculative market and although there is amazing potential here, it is still only potential. When investing in any High risk market like Crypto, only every invest what you are willing to lose. Cardano may be testing the 10c barrier now. But in March it dumped to 1.7c. And if you suddenly need your money back during the dump then you are out of luck. Do your research before you FOMO in. Start with a small amount and send it between wallets and exchanges to understand how the system works. Store your private keys offline (or online cloud service but encrypted) with a method that is unlikely to be damaged AND have multiple copies. So in the case of a house fire or a blow to the head, or the cloud service being shutdown/destroyed, you do not lose your money.
Timelines
https://roadmap.cardano.org/en/
Shelley Decentralisation rollout and news
Goguen smart contract rollout
Voltaire Voting mechanics – no official roll out timeline (though promised for 2020)
Basho scaling and sidechains – no official roll out time line (most likely 2021)
submitted by YourBestMateRobbo to cardano [link] [comments]

Call for old bitcoiners here to help beginners

Recently I was browsing the /bitcoinbeginners sub, where nobbs are sent after they post on Bitcoin simple questions.
It's incredible how many shitcoiners and even nocoiners are answering there! New people need the right answers not manipulations, shills, lies, deceiving information and bad advice.
Old bitcoiners, with experience, please help also the beginners, spare some of your time on posting on Bitcoin and give some good answers also on /bitcoinbeginners.
If beginners start with wrong foot, they will continue in the wrong way or even end up being a shitcoiner...
submitted by Bitcoin_forever to Bitcoin [link] [comments]

AMA with Alex Alexandrov - the founder of Coinpayments.net

Alex Alexandrov was a technical Forex and Options trader and EA developer for MT4 platform. He then chose to venture into direct sales before branching out on his own to successfully develop and manage coincable.com, an online bitcoin mining hardware supply store. Alex's next venture was becoming owner and CEO of Coinpayments.net, a premium Bitcoin, Litecoin, Ethereum and other alternative crypto-currency payment processor. Coinpayments’ services are trusted by over 3,000,000 users across 182 countries. Recently he brought his wealth of industry experience to his own cryptocurrency Velas. Last month Alex was the Keynote Speaker for the BlockDown cryptocurrency conference.
For the purposes of this AMA we would like to focus on the motivations behind creating Coinpayments, whats going on with Coinpayments, what the future hold for Coinpayments, what is Velas, what were motivations behind creating Velas, and whats next for Velas.
Please keep the discussion on topic and civil - rules will be strictly enforced. Actual AMA is slated for 2 pm ET / 11 am PT, but we are putting it up a few hours ahead to allow for questions to get started.
submitted by jwinterm to CryptoCurrency [link] [comments]

Polkadot Launch AMA Recap

Polkadot Launch AMA Recap

The Polkadot Telegram AMA below took place on June 10, 2020

https://preview.redd.it/4ti681okap951.png?width=4920&format=png&auto=webp&s=e21f6a9a276d35bb9cdec59f46744f23c37966ef
AMA featured:
Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation
Logan Saether, Technical Education, Web3 Foundation
Will Pankiewicz, Master of Validators, Parity Technologies
Moderated by Dan Reecer, Community and Growth, Polkadot & Kusama at Web3 Foundation

Transcription compiled by Theresa Boettger, Polkadot Ambassador:

Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation

Dan: Hey everyone, thanks for joining us for the Polkadot Launch AMA. We have Dieter Fishbein (Head of Ecosystem Development, our business development team), Logan Saether (Technical Education), and Will Pankiewicz (Master of Validators) joining us today.
We had some great questions submitted in advance, and we’ll start by answering those and learning a bit about each of our guests. After we go through the pre-submitted questions, then we’ll open up the chat to live Q&A and the hosts will answer as many questions as they can.
We’ll start off with Dieter and ask him a set of some business-related questions.

Dieter could you introduce yourself, your background, and your role within the Polkadot ecosystem?

Dieter: I got my start in the space as a cryptography researcher at the University of Waterloo. This is where I first learned about Bitcoin and started following the space. I spent the next four years or so on the investment team for a large asset manager where I primarily focused on emerging markets. In 2017 I decided to take the plunge and join the space full-time. I worked at a small blockchain-focused VC fund and then joined the Polkadot team just over a year ago. My role at Polkadot is mainly focused on ensuring there is a vibrant community of projects building on our technology.

Q: Adoption of Polkadot of the important factors that all projects need to focus on to become more attractive to the industry. So, what is Polkadot's plan to gain more Adoption? [sic]

A (Dieter): Polkadot is fundamentally a developer-focused product so much of our adoption strategy is focused around making Polkadot an attractive product for developers. This has many elements. Right now the path for most developers to build on Polkadot is by creating a blockchain using the Substrate framework which they will later connect to Polkadot when parachains are enabled. This means that much of our adoption strategy comes down to making Substrate an attractive tool and framework. However, it’s not just enough to make building on Substrate attractive, we must also provide an incentive to these developers to actually connect their Substrate-based chain to Polkadot. Part of this incentive is the security that the Polkadot relay chain provides but another key incentive is becoming interoperable with a rich ecosystem of other projects that connect to Polkadot. This means that a key part of our adoption strategy is outreach focused. We go out there and try to convince the best projects in the space that building on our technology will provide them with significant value-add. This is not a purely technical argument. We provide significant support to projects building in our ecosystem through grants, technical support, incubatoaccelerator programs and other structured support programs such as the Substrate Builders Program (https://www.substrate.io/builders-program). I do think we really stand out in the significant, continued support that we provide to builders in our ecosystem. You can also take a look at the over 100 Grants that we’ve given from the Web3 Foundation: https://medium.com/web3foundation/web3-foundation-grants-program-reaches-100-projects-milestone-8fd2a775fd6b

Q: On moving forward through your roadmap, what are your most important next priorities? Does the Polkadot team have enough fundamentals (Funds, Community, etc.) to achieve those milestones?

A (Dieter): I would say the top priority by far is to ensure a smooth roll-out of key Polkadot features such as parachains, XCMP and other key parts of the protocol. Our recent Proof of Authority network launch was only just the beginning, it’s crucial that we carefully and successfully deploy features that allow builders to build meaningful technology. Second to that, we want to promote adoption by making more teams aware of Polkadot and how they can leverage it to build their product. Part of this comes down to the outreach that I discussed before but a major part of it is much more community-driven and many members of the team focus on this.
We are also blessed to have an awesome community to make this process easier 🙂

Q: Where can a list of Polkadot's application-specific chains can be found?

A (Dieter): The best list right now is http://www.polkaproject.com/. This is a community-led effort and the team behind it has done a terrific job. We’re also working on providing our own resource for this and we’ll share that with the community when it’s ready.

Q: Could you explain the differences and similarities between Kusama and Polkadot?

A (Dieter): Kusama is fundamentally a less robust, faster-moving version of Polkadot with less economic backing by validators. It is less robust since we will be deploying new technology to Kusama before Polkadot so it may break more frequently. It has less economic backing than Polkadot, so a network takeover is easier on Kusama than on Polkadot, lending itself more to use cases without the need for bank-like security.
In exchange for lower security and robustness, we expect the cost of a parachain lease to be lower on Kusama than Polkadot. Polkadot will always be 100% focused on security and robustness and I expect that applications that deal with high-value transactions such as those in the DeFi space will always want a Polkadot deployment, I think there will be a market for applications that are willing to trade cheap, high throughput for lower security and robustness such as those in the gaming, content distribution or social networking sectors. Check out - https://polkadot.network/kusama-polkadot-comparing-the-cousins/ for more detailed info!

Q: and for what reasons would a developer choose one over the other?

A (Dieter): Firstly, I see some earlier stage teams who are still iterating on their technology choosing to deploy to Kusama exclusively because of its lower-stakes, faster moving environment where it will be easier for them to iterate on their technology and build their user base. These will likely encompass the above sectors I identified earlier. To these teams, Polkadot becomes an eventual upgrade path for them if, and when, they are able to perfect their product, build a larger community of users and start to need the increased stability and security that Polkadot will provide.
Secondly, I suspect many teams who have their main deployment on Polkadot will also have an additional deployment on Kusama to allow them to test new features, either their tech or changes to the network, before these are deployed to Polkadot mainnet.

Logan Saether, Technical Education, Web3 Foundation

Q: Sweet, let's move over to Logan. Logan - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Logan): My initial involvement in the industry was as a smart contract engineer. During this time I worked on a few projects, including a reboot of the Ethereum Alarm Clock project originally by Piper Merriam. However, I had some frustrations at the time with the limitations of the EVM environment and began to look at other tools which could help me build the projects that I envisioned. This led to me looking at Substrate and completing a bounty for Web3 Foundation, after which I applied and joined the Technical Education team. My responsibilities at the Technical Education team include maintaining the Polkadot Wiki as a source of truth on the Polkadot ecosystem, creating example applications, writing technical documentation, giving talks and workshops, as well as helping initiatives such as the Thousand Validator Programme.

Q: The first technical question submitted for you was: "When will an official Polkadot mobile wallet appear?"

A (Logan): There is already an “official” wallet from Parity Technologies called the Parity Signer. Parity Signer allows you to keep your private keys on an air-gapped mobile device and to interactively sign messages using web interfaces such as Polkadot JS Apps. If you’re looking for something that is more of an interface to the blockchain as well as a wallet, you might be interested in PolkaWallet which is a community team that is building a full mobile interface for Polkadot.
For more information on Parity Signer check out the website: https://www.parity.io/signe

Q: Great thanks...our next question is: If someone already developed an application to run on Ethereum, but wants the interoperability that Polkadot will offer, are there any advantages to rebuilding with Substrate to run as a parachain on the Polkadot network instead of just keeping it on Ethereum and using the Ethereum bridge for use with Polkadot?

A (Logan): Yes, the advantage you would get from building on Substrate is more control over how your application will interact with the greater Polkadot ecosystem, as well as a larger design canvas for future iterations of your application.
Using an Ethereum bridge will probably have more cross chain latency than using a Polkadot parachain directly. The reason for this is due to the nature of Ethereum’s separate consensus protocol from Polkadot. For parachains, messages can be sent to be included in the next block with guarantees that they will be delivered. On bridged chains, your application will need to go through more routes in order to execute on the desired destination. It must first route from your application on Ethereum to the Ethereum bridge parachain, and afterward dispatch the XCMP message from the Polkadot side of the parachain. In other words, an application on Ethereum would first need to cross the bridge then send a message, while an application as a parachain would only need to send the message without needing to route across an external bridge.

Q: DOT transfers won't go live until Web3 removes the Sudo module and token holders approve the proposal to unlock them. But when will staking rewards start to be distributed? Will it have to after token transfers unlock? Or will accounts be able to accumulate rewards (still locked) once the network transitions to NPoS?

A (Logan): Staking rewards will be distributed starting with the transition to NPoS. Transfers will still be locked during the beginning of this phase, but reward payments are technically different from the normal transfer mechanism. You can read more about the launch process and steps at http://polkadot.network/launch-roadmap

Q: Next question is: I'm interested in how Cumulus/parachain development is going. ETA for when we will see the first parachain registered working on Kusama or some other public testnet like Westend maybe?

A (Logan): Parachains and Cumulus is a current high priority development objective of the Parity team. There have already been PoC parachains running with Cumulus on local testnets for months. The current work now is making the availability and validity subprotocols production ready in the Polkadot client. The best way to stay up to date would be to follow the project boards on GitHub that have delineated all of the tasks that should be done. Ideally, we can start seeing parachains on Westend soon with the first real parachains being deployed on Kusama thereafter.
The projects board can be viewed here: https://github.com/paritytech/polkadot/projects
Dan: Also...check out Basti's tweet from yesterday on the Cumulus topic: https://twitter.com/bkchstatus/1270479898696695808?s=20

Q: In what ways does Polkadot support smart contracts?

A (Logan): The philosophy behind the Polkadot Relay Chain is to be as minimal as possible, but allow arbitrary logic at the edges in the parachains. For this reason, Polkadot does not support smart contracts natively on the Relay Chain. However, it will support smart contracts on parachains. There are already a couple major initiatives out there. One initiative is to allow EVM contracts to be deployed on parachains, this includes the Substrate EVM module, Parity’s Frontier, and projects such as Moonbeam. Another initiative is to create a completely new smart contract stack that is native to Substrate. This includes the Substrate Contracts pallet, and the ink! DSL for writing smart contracts.
Learn more about Substrate's compatibility layer with Ethereum smart contracts here: https://github.com/paritytech/frontier

Will Pankiewicz, Master of Validators, Parity Technologies


Q: (Dan) Thanks for all the answers. Now we’ll start going through some staking questions with Will related to validating and nominating on Polkadot. Will - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Will): Sure thing. Like many others, Bitcoin drew me in back in 2013, but it wasn't until Ethereum came that I took the deep dive into working in the space full time. It was the financial infrastructure aspects of cryptocurrencies I was initially interested in, and first worked on dexes, algorithmic trading, and crypto funds. I really liked the idea of "Generalized Mining" that CoinFund came up with, and started to explore the whacky ways the crypto funds and others can both support ecosystems and be self-sustaining at the same time. This drew me to a lot of interesting experiments in what later became DeFi, as well as running validators on Proof of Stake networks. My role in the Polkadot ecosystem as “Master of Validators” is ensuring the needs of our validator community get met.

Q: Cool thanks. Our first community question was "Is it still more profitable to nominate the validators with lesser stake?"

A (Will): It depends on their commission, but generally yes it is more profitable to nominate validators with lesser stake. When validators have lesser stake, when you nominate them this makes your nomination stake a higher percentage of total stake. This means when rewards get distributed, it will be split more favorably toward you, as rewards are split by total stake percentage. Our entire rewards scheme is that every era (6 hours in Kusama, 24 hours in Polkadot), a certain amount of rewards get distributed, where that amount of rewards is dependent on the total amount of tokens staked for the entire network (50% of all tokens staked is currently optimal). These rewards from the end of an era get distributed roughly equally to all validators active in the validator set. The reward given to each validator is then split between the validators and all their nominators, determined by the total stake that each entity contributes. So if you contribute to a higher percentage of the total stake, you will earn more rewards.

Q: What does priority ranking under nominator addresses mean? For example, what does it mean that nominator A has priority 1 and nominator B has priority 6?

A (Will): Priority ranking is just the index of the nomination that gets stored on chain. It has no effect on how stake gets distributed in Phragmen or how rewards get calculated. This is only the order that the nominator chose their validators. The way that stake from a nominator gets distributed from a nominator to validators is via Phragmen, which is an algorithm that will optimally put stake behind validators so that distribution is roughly equal to those that will get in the validator set. It will try to maximize the total amount at stake in the network and maximize the stake behind minimally staked validators.

Q: On Polkadot.js, what does it mean when there are nodes waiting on Polkadot?

**A (Will):**In Polkadot there is a fixed validator set size that is determined by governance. The way validators get in the active set is by having the highest amount of total stake relative to other validators. So if the validator set size is 100, the top 100 validators by total stake will be in the validator set. Those not active in the validator set will be considered “waiting”.

Q: Another question...Is it necessary to become a waiting validator node right now?

A (Will): It's not necessary, but highly encouraged if you actively want to validate on Polkadot. The longer you are in the waiting tab, the longer you get exposure to nominators that may nominate you.

Q: Will current validators for Kusama also validate for Polkadot? How strongly should I consider their history (with Kusama) when looking to nominate a good validator for DOTs?

A (Will): A lot of Kusama validators will also be validators for Polkadot, as KSM was initially distributed to DOT holders. The early Kusama Validators will also likely be the first Polkadot validators. Being a Kusama validator should be a strong indicator for who to nominate on Polkadot, as the chaos that has ensued with Kusama has allowed validators to battle test their infrastructure. Kusama validators by now are very familiar with tooling, block explorers, terminology, common errors, log formats, upgrades, backups, and other aspects of node operation. This gives them an edge against Polkadot validators that may be new to the ecosystem. You should strongly consider well known Kusama validators when making your choices as a nominator on Polkadot.

Q: Can you go into more details about the process for becoming a DOT validator? Is it similar as the KSM 1000 validators program?

A (Will): The Process for becoming a DOT validators is first to have DOTs. You cannot be a validator without DOTs, as DOTs are used to pay transaction fees, and the minimum amount of DOTs you need is enough to create a validate transaction. After obtaining enough DOTs, you will need to set up your validator infrastructure. Ideally you should have a validator node with specs that match what we call standard hardware, as well as one or more sentry nodes to help isolate the validator node from attacks. After the infrastructure is up and running, you should have your Polkadot accounts set up right with a stash bonded to a controller account, and then submit a validate transaction, which will tell the network your nodes are ready to be a part of the network. You should then try and build a community around your validator to let others know you are trustworthy so that they will nominate you. The 1000 validators programme for Kusama is a programme that gives a certain amount of nominations from the Web3 Foundation and Parity to help bootstrap a community and reputation for validators. There may eventually be a similar type of programme for Polkadot as well.
Dan: Thanks a lot for all the answers, Will. That’s the end of the pre-submitted questions and now we’ll open the chat up to live Q&A, and our three team members will get through as many of your questions as possible.
We will take questions related to business development, technology, validating, and staking. For those wondering about DOT:
DOT tokens do not exist yet. Allocations of Polkadot's native DOT token are technically and legally non-transferable. Hence any publicized sale of DOTs is unsanctioned by Web3 Foundation and possibly fraudulent. Any official public sale of DOTs will be announced on the Web3 Foundation website. Polkadot’s launch process started in May and full network decentralization later this year, holders of DOT allocations will determine issuance and transferability. For those who participated in previous DOT sales, you can learn how to claim your DOTs here (https://wiki.polkadot.network/docs/en/claims).


Telegram Community Follow-up Questions Addressed Below


Q: Polkadot looks good but it confuses me that there are so many other Blockchain projects. What should I pay attention in Polkadot to give it the importance it deserves? What are your planning to achieve with your project?

A (Will): Personally, what I think differentiates it is the governance process. Coordinating forkless upgrades and social coordination helps stand it apart.
A (Dieter): The wiki is awesome - https://wiki.polkadot.network/

Q: Over 10,000 ETH paid as a transaction fee , what if this happens on Polkadot? Is it possible we can go through governance to return it to the owner?

A: Anything is possible with governance including transaction reversals, if a network quorum is reached on a topic.
A (Logan): Polkadot transaction fees work differently than the fees on Ethereum so it's a bit more difficult to shoot yourself in the foot as the whale who sent this unfortunate transaction. See here for details on fees: https://w3f-research.readthedocs.io/en/latest/polkadot/Token%20Economics.html?highlight=transaction%20fees#relay-chain-transaction-fees-and-per-block-transaction-limits
However, there is a tip that the user can input themselves which they could accidentally set to a large amount. In this cases, yes, they could proposition governance to reduce the amount that was paid in the tip.

Q: What is the minimum ideal amount of DOT and KSM to have if you want to become a validator and how much technical knowledge do you need aside from following the docs?

A (Will): It depends on what the other validators in the ecosystem are staking as well as the validator set size. You just need to be in the top staking amount of the validator set size. So if its 100 validators, you need to be in the top 100 validators by stake.

Q: Will Web3 nominate validators? If yes, which criteria to be elected?

A (Will): Web 3 Foundation is running programs like the 1000 validators programme for Kusama. There's a possibility this will continue on for Polkadot as well after transfers are enabled. https://thousand-validators.kusama.network/#/
You will need to be an active validator to earn rewards. Only those active in the validator set earn rewards. I would recommend checking out parts of the wiki: https://wiki.polkadot.network/docs/en/maintain-guides-validator-payout

Q: Is it possible to implement hastables or dag with substrate?

A (Logan): Yes.

Q: Polkadot project looks very futuristic! But, could you tell us the main role of DOT Tokens in the Polkadot Ecosystem?

A (Dan): That's a good question. The short answer is Staking, Governance, Bonding. More here: http://polkadot.network/dot-token

Q: How did you manage to prove that the consensus protocol is safe and unbreakable mathematically?

A (Dieter): We have a research teams of over a dozen scientists with PhDs and post-docs in cryptography and distributed computing who do thorough theoretical analyses on all the protocols used in Polkadot

Q: What are the prospects for NFT?

A: Already being built 🙂

Q: What will be Polkadot next roadmap for 2020 ?

A (Dieter): Building. But seriously - we will continue to add many more features and upgrades to Polkadot as well as continue to strongly focus on adoption from other builders in the ecosystem 🙂
A (Will): https://polkadot.network/launch-roadmap/
This is the launch roadmap. Ideally adding parachains and xcmp towards the end of the year

Q: How Do you stay active in terms of marketing developments during this PANDEMIC? Because I'm sure you're very excited to promote more after this settles down.

A (Dan): The main impact of covid was the impact on in-person events. We have been very active on Crowdcast for webinars since 2019, so it was quite the smooth transition to all-online events. You can see our 40+ past event recordings and follow us on Crowdcast here: https://www.crowdcast.io/polkadot. If you're interested in following our emails for updates (including online events), subscribe here: https://info.polkadot.network/subscribe

Q: Hi, who do you think is your biggest competitor in the space?

A (Dan): Polkadot is a metaprotocol that hasn't been seen in the industry up until this point. We hope to elevate the industry by providing interoperability between all major public networks as well as private blockchains.

Q: Is Polkadot a friend or competitor of Ethereum?

A: Polkadot aims to elevate the whole blockchain space with serious advancements in interoperability, governance and beyond :)

Q: When will there be hardware wallet support?

A (Will): Parity Signer works well for now. Other hardware wallets will be added pretty soon

Q: What are the attractive feature of DOT project that can attract any new users ?

A: https://polkadot.network/what-is-polkadot-a-brief-introduction/
A (Will): Buidling parachains with cross chain messaging + bridges to other chains I think will be a very appealing feature for developers

Q: According to you how much time will it take for Polkadot to get into mainstream adoption and execute all the plans set for this project?

A: We are solving many problems that have held back the blockchain industry up until now. Here is a summary in basic terms:
https://preview.redd.it/ls7i0bpm8p951.png?width=752&format=png&auto=webp&s=a8eb7bf26eac964f6b9056aa91924685ff359536

Q: When will bitpie or imtoken support DOT?

A: We are working on integrations on all the biggest and best wallet providers. ;)

Q: What event/call can we track to catch a switch to nPOS? Is it only force_new_era call? Thanks.

A (Will): If you're on riot, useful channels to follow for updates like this are #polkabot:matrix.org and #polkadot-announcements:matrix.parity.io
A (Logan): Yes this is the trigger for initiating the switch to NPoS. You can also poll the ForceEra storage for when it changes to ForceNew.

Q: What strategy will the Polkadot Team use to make new users trust its platform and be part of it?

A (Will): Pushing bleeding edge cryptography from web 3 foundation research
A (Dan): https://t.me/PolkadotOfficial/43378

Q: What technology stands behind and What are its advantages?

A (Dieter): Check out https://polkadot.network/technology/ for more info on our tech stack!

Q: What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

A (Will): Governance I see as a huge problem. For example upgrading Bitcoin and making decisions for changing things is a very challenging process. We have robust systems of on-chain governance to help solve these coordination problems

Q: How involved are the Polkadot partners? Are they helping with the development?

A (Dieter): There are a variety of groups building in the Polkadot ecosystem. Check out http://www.polkaproject.com/ for a great list.

Q: Can you explain the role of the treasury in Polkadot?

A (Will): The treasury is for projects or people that want to build things, but don't want to go through the formal legal process of raising funds from VCs or grants or what have you. You can get paid by the community to build projects for the community.
A: There’s a whole section on the wiki about the treasury and how it functions here https://wiki.polkadot.network/docs/en/mirror-learn-treasury#docsNav

Q: Any plan to introduce Polkadot on Asia, or rising market on Asia?

**A (Will):**We're globally focused

Q: What kind of impact do you expect from the Council? Although it would be elected by token holders, what kind of people you wish to see there?

A (Will): Community focused individuals like u/jam10o that want to see cool things get built and cool communities form

If you have further questions, please ask in the official Polkadot Telegram channel.
submitted by dzr9127 to dot [link] [comments]

Namecoin and the future of self-sovereign digital identity.

Namecoin's motto is "Bitcoin frees money – Namecoin frees DNS, identities, and other technologies."
biolizard89 has done fantastic work on the DNS part, but let's focus on the identity use case here. Recent events have convinced me that digital identity on the internet is broken. Consider:
What was true in 1993 when cartoonist Peter Steiner wrote "On the internet, nobody knows you are a dog" is still true today. The only difference is that identity is increasingly being weaponized using AI/ML so "On the internet, nobody knows you are a bot" would perhaps be more apt.
I read the following comment from a user on slashdot yesterday:
For the time being, you can assume that this comment was written by a human being. You can click on my username, look back at my history of posts, and go, "OK, here's a bunch of posts, by a person, going back more than a decade, to the TIME BEFORE BOTS." That is, before the first year of 2020.
Since humans are likely to adopt the majority opinion, bad actors find real value in being able to control the narrative online by surrounding the reader with manufactured opinions by bots that due to advances in ML/AI are quickly becoming indistinguishable from real users. This amounts to a Sybil attack on the minds of digital content consumers and poses major threat to the integrity of our social fabric.
Apart from the recent twitter incident used for scamming, nation states have been known to create massive bot armies of fake and hijacked user accounts to try and shift the narratives regarding the Hong Kong independence protests as well as national elections. This will only increase.
Currently, our digital identity is fragmented into silo's largely controlled by government institutions and mega corporations (FAANG) based on a "Trust us" model. As recent events have proven, this is a bad model and in dire need of improvement/replacement. IMHO we need to move from "Trust us" to a "Trust but verify" model where the user is in full control of their digital identity.
Namecoin can and should play an important role in building this 'web of trust composed of self-sovereign identities" as it is neutral (no owner), permissionless and secure (merge-mined). Daniel already developed a proof of concept with NameID but what can we do to take this further?
Personally I'd like to see users create Namecoin identities and link them to their social identities (e.g. Google, Facebook, Twitter, Reddit, etc). Then whenever they create content, they sign it with their private keys. This would allow a reader to verify the content was created by the user. Content verification would have stopped the recent twitter hack, because even if the hackers would have access to internal admin tools they would not have the private keys that the users produce valid content with. "Not your keys, not your content"
Content verification is only one part. Ideally a user would like to verify the integrity of the content creator as well. E.g. has this user passed human verification in any of the linked platforms? Does a trusted linked entity vouch for the reputation or integrity of this user (e.g. a government entity, financial entity or non-governmental organization?). This would require those platforms to allow linking of Namecoin ID with their Platform ID and allow lookup and signing of metadata provided by these platforms. (e.g. UserID Y is linked to PlatformID X and completed human verification on date Z, signed Twitter).
I image users could install an extension similar to uBlock or Privacy Badger that contains human curated blacklists and heuristics that operate on Namecoin entities to perform these checks and flag or filter content and users that fail integrity checks. This would allow a users to automatically weed out potential bots and trolls but keep full control of this process themselves, avoiding potential censorship if this task would fall on the platform owners themselves (something governments are pushing for).
We could take this even further and integrate Namecoin ID's in software and hardware devices as well. This could create chains of trust to verify the entire chain of content creation and manipulation to the final content posted on a social platform. Where every entity signs the resulting content. (E.g. camera -> photoshop -> twitter post)
Apart from signing content/messages (PGP style). Namecoin could perhaps also be used for managing identity tokens in a users 'Identity wallet'. Looking into my physical wallet this could include things like credit cards, insurance cards, government issued IDs, membership cards, transportation cards, key cards, etc. This could be done similar to 'colored coins' on Bitcoin. But would have to support some type of smart contract functionality to be useful (e.g. expiring tokens, etc).
I'm not a developer nor a technical writer, but I do think we need to think long and hard about how we can solve digital identity in a way that empowers users to trust and verify the content and identities of the peers we interact with online while also respecting privacy and preventing censorship by external parties. Namecoin could be the better path to building this web of trust, but given the current pace of AI/ML and the willingness by bad actors to weaponize it at scale against users interests we might not have much time. (Apologies for the rant!)
submitted by rmvaandr to Namecoin [link] [comments]

A Software Engineer's Explanation of Server Ticks/FPS, the Message Pump, and Server Meshing

Since people liked my last post about the SQ42 report, I thought I would do another about the recent comment about server ticks https://robertsspaceindustries.com/spectrum/community/SC/forum/50259/thread/end-goal-server-tick-rate/2872293
To understand how this works, you must first understand the Message Pump. This is basically the heart beat of an application. It is a loop from which there is no escape, so long as the application runs. All applications have an "entry point" that initially gets called. If you've ever taken Computer Science 101, it would be your "main" function. For a console application, you enter main, it does some things, and then when it leaves main, the application closes. In an application with a graphical user interface, that loop has to regularly call a Render or Draw function that draws the UI. This happens on the Render Thread. In a regular client application your Message Pump will look something like this:
while(IsApplicationRunning) { //loop while application is meant to run HandleKeyboardInputs(); //check to see if any keyboard events have occured HandleMouseInputs(); //check to see if any mouse events have occurred, hittest children HandleSizeChanges(); //check if the window has resized, resize children to fit Render(); //recursively render all child controls } 
Each function call within the loop will call entire hierarchies of functionality. This same basic principal applies to a server as well. I am using my imagination, as I have never audited the Star Citizen codebase, but its message pump would look something like
while(IsServerOnline) { //loop while server is meant to run HandleOrbitalRotation(); //update position of all planets around the sun HandleNPCRoutines(); //update position/animations of all NPCs SynchronizePlayerLocations(); //receive player location packets and update //internal locations CheckForIssues(); //check all object positions and ensure no conflicts UpdatePlayerLocations(); //send new location data of all objects to connected //players } 
This is only the most basic sort of functionality, that doesn't factor in things like Server Object Container Streaming or Meshing or object persistence.
Each iteration of the Message Pump is a frame. These frames are calculated by having a Stopwatch and taking averages of how long it takes each frame to complete across a defined sample size. If you have a target frame rate, like 30fps for instance, subroutines can be prioritized to try to either run on the current frame, or be skipped, based on how much load is put on the servers.
My current understanding, based on Star Citizen's published material, is that there is presently one server for every 50 players, and that server handles an entire star system. Having one server for every 50 players right now is fine, and that number can hopefully be increased as optimizations happen within the code.
The important part is modifying the server code so that they can separate different Object Containers to separate physical server hardware. This would allow them to, for instance, have one server, with its own message pump, handle Port Olisar, for up to 50 players. For v0 of server meshing, I would imagine that, when the 51st player comes to PO, they would have to spin up a new server for that person of PO, and they would be on their own. When the player count goes back below 50, that server can go back to sleep and is available to be repurposed for whatever other area needs it, dynamically. As players leave PO, and go into space, each part of space could have dedicated servers for that area. The same goes for planets, or cities. Each would be its own Object Container, each Object Container could contain smaller Object Containers, so that as players move around, servers would seamlessly spin up or down to host content for the players. Technically, one server could even host multiple separate Object Containers if they both have low player counts.
This would go a very long way towards making the universe feel full and connected. To start out with, you might still only find a maximum of 50 people on Daymar, but you might also find 50 people on Yela, or ArcCorp. Each place could be full, with the game client switching servers when going to different areas. Server Object Container Streaming is what enables this. It is just a matter of handling the trade off between servers, and keeping everything synchronized. I recognize that the posts that CIG makes on the subject are often hard to understand for laymen, but these posts make me feel confident that they are making progress and heading in a meaningful direction toward the end goal of having us seamlessly switch between servers on the fly.
One thing that I have no heard anything about is the transition towards specialized physical hardware for handling some of these large-scale server-side operations. If they are using regular CPU/GPU operations, performance could be *vastly* improved by creating FPGAs or ASICs that could perform calculations with greater alacrity than a GPU could ever hope to. This is the type of hardware used in medical devices, data centers, or bitcoin mining.
I wrote this up purely to help people understand some aspects of software engineer, and no part of it is meant to be so specific that you should interpret it to be exactly how something works. I am trying to provide a high level, easy to understand, idea of some very complex concepts.
If there is any other part of development that you would like me to comment on feel free to @ me with VerdantNonsense :) Stay safe out there.
submitted by VerdantNonsense to starcitizen [link] [comments]

Through long and honest trading, I've finally joined the 21 million club

Started 11 months ago, with barely 0.07 BTC in my account, I've been able to successfully convert it into a whole BTC through nice enjoyable day trading.
I've actually accumulated 1.1 BTC and put 1 BTC into my hardware wallet, while 0.1 I will use again to trade, and hopefully turn one day into another bitcoin.
Now here's to waiting when BTC will moon and Mars beyond!
Cheers. Just wanted to share this little story of mine!
And I'll say this, ANY of you can do just as good by doing your homework.
ADDITION:
I'd like you all to divert the attention to what u/DownvoteToKarmaHell wrote.
https://www.reddit.com/Bitcoin/comments/f9autp/through_long_and_honest_trading_ive_finally/fiqyce6?utm_medium=android_app&utm_source=share
Keep your crypto and your online security safe people
submitted by Nicky_and_Skittles to Bitcoin [link] [comments]

Diamond in the rough forks to Blockcore tech. Solid 10x short term.

Meet x42 Protocol, the feeless blockchain that will allow anyone to host decentralized applications the easy way.
X42 Protocol Price $0.01275764
Market Cap $247,173 (May 27, 2020)
Explorer: https://explorer.x42.tech/
Website: https://www.x42.tech/
x42 is a decentralized cryptocurrency based on the Blockcore technology designed to be a multi-chain solution for DApps (decentralized applications) that allows for a range that goes anywhere from small indie developed games to large entrepreneurial projects that span dozens of facilities.
The main idea behind x42 is to be a scalable, on-chain solution for any developer that wants to launch games and applications in general with minimal initial investment, zero transaction fees and near infinite scalability.
The protocol works around a main blockchain which hosts all the x42 coins and three types of nodes. Side blockchains can be created at will by the developers that decide to use the x42 protocol to launch their projects, side blockchains are very flexible and allow for a great deal of customization.
The main blockchain of the x42 protocol will have a maximum total of forty-two million coins mined into existence by the year 2030. The coins follow the same rules as most cryptocurrencies, every transaction is final, timestamped and will be registered to the blockchain ledger, blockchain explorers can be used to browse any and all transactions
Every project can have its own side blockchain, in which the development team can fully test and experiment on before going live to the store, because of that need all side blockchains have access to individual testnets.
FM Interview with developer:
The workpaper talks about using Stratis technology - Many say this is soon to be defunct?
It does, the current WP is the 1st itteration, we have a 2.0 that will be released when the servers go online.
However in Dec 2019, we have switched to Blockcore as Stratis had too many limitations that didn't meet our needs without heavy modifications. We did start with stratis as the basic framework, but we modified all of the code thus far to meet the needs we have. x42 is not stratis, but did start with some of their code.
The switch to blockcore is really more of a code thing and not otherwise noticed on the user end. There has been some but not a significant amount of discussion about it. Anyone that does access the new beta will be able to notice the difference as it nolonger will say stratis anywhere. On the user end, some file structures may change with mention of blockcore.
Blockcore is a fork of Stratis, however the cool thing is that it isnt its own project.
More details:
https://www.blockcore.net/ is an open source project started by a group of blockchain developers and engineers to realize a fully integrated platform for building custom blockchains.
Blockcore is the foundation for realizing blockchains and includes core functionality to create your own custom blockchain with a lot of tooling supporting your blockchain.
So its been 18 months of development? When will we say a mainnet?
We are currently in testnet and close to 90% ready. Xservers should be released this year. However we are not working on a timeline for mainnet with dates at the moment. Deadlines produce inferior products. The new wallet (xCore) has passed and is ready, it will work alongside the xServer. The switch to blockcore did require some code changes and we are still working with blockcore to fine tune some issues in their code as well. Security and ease of use for the end user are required.
What about use of dapps in beta?
We have a few in progress, but there are not many as the parameters can be changing. Although, anyone that can code a dapp in c# could drop it into their app folder and have one right now. There just won't be the user interface on the current wallet or the server support yet.
Why did you call it x42?
X has always been the universal unknown in mathematics, which can also mean ‘anything.’
X is believed to have come from the arab letter shin (ش),
that was initially used by spanish scholars because of their inability to translate certain arabic sounds into the spanish language, so it became a synonym for an unknown thing. From there on it was noticed that the spanish language didn’t have an appropriate sound for the arabic ‘sh.’ As time passed it was adapted into the ‘ck’ sound, which in classic greek is written down with a symbol known as chi (X). 42 is known to Douglas Adams’ The Hitchhiker’s Guide to the Galaxy readers as the ‘answer to the ultimate question of life, the universe, and everything’. We believe that x42 can offer a great answer to most questions plaguing the cryptocurrency space at the moment and in the future. That mix of an unknown and an answer is where our name got its origin.
The techy Details:
The two main levels of the x42 architecture are:
xCore – This is responsible for interacting with the infrastructure and the interface layers in addition to the node policy layers. An x42 xCore full node handles all the APIs and user interfaces.
NBitcoin – This is responsible for handling messages between nodes in the Network Layer. It also bridges the gap between various Consensus Layer functions.
Higher Transaction Speed: Transaction on the x42 blockchain platform happens almost instantly under 60 seconds. Also, the main x42 blockchain supports around 70 transactions per second. This is nearly 10 times the transactions supported by the Bitcoin blockchain network. Additionally, the good thing is the x42 side blockchains can be edited to hold as many transactions-per-second (TPS) as the developers want.
Understanding xCore, xServer, and Wallets
xCore – An xCore node is basically a device with software that has the entire x42 blockchain saved and connects the main blockchain to the side blockchains. This node seeds the main and side blockchain to all users and also has all the functionalities of a client node. Client node is any client running a wallet connected to the x42 main blockchain network.
As explained in the white-paper, “The xCore can stake coins on the main blockchain, it can also run decentralised applications hosted on xServers all across the network after having it installed on the local machine”.
xServer – The x42 blockchain supports several different types of servers. xServer is a special sort of wallet that runs on dedicated hardware facilitates decentralisation of applications (DApps), processing and data storage.
xServers are also tasked with other activities on the network like propagating smart contracts and signing transactions. It also allows the server owner (the Gatekeeper) to get paid for hosting diverse applications.
Besides, xServers can choose to host the projects launched on any of the non-private side blockchains. Projects that share a considerable part of their revenues with the xServer owners are likely to get hosted quickly and maintained by the same servers for a longer period of time.
Before we understand xServer wallets, let’s brief about the Hot Wallet and Cold Wallets.
A hot wallet is an online wallet always connected to the internet. This is an instant point-of-contact for receiving and sending payments. The hot wallets receive the staking rewards along with payouts from DApps, side blockchain, smart contracts, and private transactions.
A cold wallet is an offline wallet and more secure from the hot wallet as it is less susceptible to online attacks. This wallet holds the collateral for the server. All the server rewards are paid out to the cold storage wallet.
Coming to the xServer wallets, these are basically software holding information for both hot and cold storage wallets. The xServer wallets can run on almost any operating system. They can also host and launch decentralised applications (DApps) and generate passive income by DApp hosting.
Nice article..
https://medium.com/the-consensus/x42-protocol-not-just-another-pos-mn-project-d8dd73e8846d
submitted by AlfredGemLord to CryptoMoonShots [link] [comments]

Large-scale updates of Tkeycoin. What’s next? — listing on the crypto exchange. Are you with us?

Large-scale updates of Tkeycoin. What’s next? — listing on the crypto exchange. Are you with us?

https://preview.redd.it/ojtx6mauve151.png?width=700&format=png&auto=webp&s=8dd727076d495d4b624a307775e64ae83ce31c76
Hello, everyone, It’s been a long time since you heard our team, someone thought we were gone, someone was waiting, and someone disappeared himself.
All this time we have worked hard to bring you good news. We will tell you what we have prepared for you, what events will be soon, what you can use right now and what else will be new in the year. And so, let’s go!

Preparing for listing on the exchange

The pandemic period played into the hands of the entire team and we managed to build beauty in our services. In anticipation of the exchange, the team tidied up the sites and services and connected new tools. First of all, we paid attention to the preparation of all services for a foreign audience, taking into account its mentality.
New sections, localizations, nice things, and much more to ensure the most efficient use of the TKEY resource. In addition to the new tabs, the services that we will talk about in this material, there is a special page for representatives of the exchange with the necessary documentation for listing — https://tkeycoin.com/en/documentation/.

https://preview.redd.it/63a1cmdwve151.png?width=700&format=png&auto=webp&s=0a064bff4acd1c1e3171f2c72ff79533b87aa3e1

Full localization

Already today the official website tkeycoin.com available in 5 languages: Russian, English, Korean, Chinese (Simplified), Chinese (Traditional).

https://preview.redd.it/xbiodqixve151.png?width=700&format=png&auto=webp&s=dd81e99cb792d62a3ebb397d2181a2f1d0de5ac8
We made adjustments to the Russian and English versions of the site, including support for Korean and Chinese for each section of the site. Professionals in their field, native speakers translated and adapted the information as it should be, and we, in turn, structured and framed it properly. So welcome!

https://preview.redd.it/hcnhws2zve151.png?width=700&format=png&auto=webp&s=30b53c5c4f3c192c39518f66941dcfdfc5b420f5
We will update language support for the site, and soon it will include support for all languages that are available in the mobile app.

QR Codes for Asian Audience


https://preview.redd.it/bv08bzm0we151.png?width=496&format=png&auto=webp&s=338ba001c3a5d6999347165e7bd725b5be7f4913
Our friends and residents of Asian countries actively use QR codes in their lives, both when paying in stores and when working with websites. QR codes are used almost everywhere when renting a car or bike, we just open the phone, scan and the mode of transport becomes available for use, anything is available for rent, even a battery, even an umbrella.
“It was a hot May day. Seven-year-old Wang Jiaozui came out of school and saw his grandfather, who came to pick him up. He was standing in the sun, and his shirt was soaked with sweat. Jiaozui invited the grandfather to buy a cold Cola in the shop, but he forgot her purse at home. It turned out that this is not important — the boy took his grandfather’s smartphone and called the payment app with a QR code on the screen.” ©
What to say if QR codes are used even to identify entire farms. By pasting QR codes on farm buildings and then scanning them, government inspectors can quickly figure out who owns the building and whether its owners are violating any laws.

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We must be on the trend! Now a special library generates QR codes for the desired page, any tab on the site tkeycoin.com in Chinese and Korean-accompanied by a QR code that leads to the requested page: fast, convenient, and simple.
https://preview.redd.it/73rscop3we151.png?width=700&format=png&auto=webp&s=c83229e56d612450370b43b06910225701454c60
Providing this opportunity to our colleagues and future users of Tkeycoin from Asia is a friendly approach and most importantly, a strategic step on our part. After implementing QR codes, we are undoubtedly drawn into the convenience of this function, which we recommend to You:) If you like it, we will make QR codes on the Russian and English versions of the site.

Buying and withdrawing cryptocurrency to a Bankcard


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On the site, you can now buy Bitcoin for pound, dollars, euro, and any other currency. This is a powerful automated service for instant exchange of fiat currencies for cryptocurrencies. The system works around the clock and seven days a week, allowing everyone to conduct exchanges at any time of the day and in the shortest possible time.
Withdrawal to a Bank card will be available until the end of the month, we finish the details, the page is available now, and the withdrawal itself will be activated during this week. You can buy Bitcoin, Ethereum, or any other currency right now.

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These features are the future for the function of purchasing any product or service for TKEY at any point of sale, which will form the basis of the mobile app, quickly, conveniently, and most importantly, observing the letter of the law.
All we do is build an Empire that is being built before your eyes. Every service and product is connected, so any update promises the appearance of even more cool and effective features than before.

Buying cryptocurrency for pound, dollars, euros, and other currencies

At the end of February, we told you that we are working on building a payment service that will include the provision of services: buy cryptocurrencies, sell a cryptocurrency, withdraw cryptocurrency to Bank cards, etc.
This day has come, now you can buy Bitcoin (BTC), Ethereum (ETH), Tether USDT, Basic Attention Token (BAT), Algorand (ALGO), Tron (TRX), OKB (Token Okex.com).

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The purchase is available in any currency: Russian ruble, US Dollar, Euro, British pound, Ukrainian hryvnia, Indonesian rupiah, South Korean won, Japanese yen, Turkish Lira, Argentine peso.
As you can see, the currency corridors are quite extensive, which allows you to make exchanges fast and at a favorable rate. Just choose the right pair to exchange or buy, available fiat currencies: RUB, USD, EUR, GBP, UAH, IDR, KRW, JPY, TRY, ARS, available cryptocurrencies: BTC, ETH, BAT, USDT, ALGO, TRX, OKB.
Even if this wide list does not include the currency you want to buy, such as Bitcoin or USDT, it’s okay — the service will automatically convert your currency into the payment currency and the Bank will make the exchange. Exchanges take place within 1–3 minutes, it is enough to pass quick verification once, which allows you to work with a volume of > 15,000 euros per month.

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Exchange of cryptocurrencies for pound, dollars, euros, and withdrawal of Bankcard

In addition to the fact that you can now easily buy a cryptocurrency for fiat currencies, pound, dollars or any other, during this week we will finish work on the withdrawal to a Bank card and you can easily withdraw your profit to the card, the most important thing is that this is a completely legal method, and all operations pass through banks and jurisdictions where work with digital assets is legalized.
This means that when you buy or make a withdrawal to the card, you get legal funds that are credited to you by the Bank or payment system.
If you are used to working with effective tools that work in a new way, or rather correctly and legally, then this service is for you. Fast crediting, easy exchange, a large selection of currency pairs, that’s what the company is betting on.
We work with the most reliable third-party partners to make your cryptocurrency process easy and convenient, and most importantly safe for You. The service supports plastic and virtual Bank cards VISA, MasterCard, MIR, and other payment systems for fast payment processing.

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On the exchange page, you can choose any currency pair to exchange in the opposite direction, for example, GBP to BTC or USD to BTC. Choose a suitable pair for exchange, available fiat currencies: RUB, USD, EUR, GBP, UAH, IDR, KRW, JPY, TRY, ARS, available cryptocurrencies for exchange: BTC, ETH, BAT, USDT, ALGO, TRX, OKB.
How it works
When buying cryptocurrency for the first time, your Bank reserves (holds) the requested amount, then this amount is transferred to the authorization waiting state. As soon as the Bank freezes the fiat funds, the service fixes the exchange rate at the time of creating the application, reserves the cryptocurrency, and provides you with 30–40 minutes to complete verification. After successful verification, the service charges cryptocurrency to the wallet.

Quick verification

Verification takes 2–3 minutes and requires only one time to perform operations every day. The “Know Your Customer” (KYC) procedure is necessary to exchange cryptocurrencies for fiat currencies.

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As you understand, you need to pass verification 1 time, regardless of whether you withdraw funds or buy currency, after passing verification, all services are available to You without any further confirmation.

New currency

Support for other currencies, including TKEY, will be added gradually and highlighted through service updates. As for the TKEY exchange, it will become available in exchange services after listing on the exchange. Listing on an exchange allows you to automate the exchange process, link the necessary services, and most importantly, the exchange provides liquidity, which is key when we talk about exchanging for a particular currency.
We will tell you more about the operation of the service and its advantages, chips, in a separate material dedicated to the withdrawal and purchase of cryptocurrencies for fiat currencies, as well as touch on various banking issues and tell you how you can combine the SWAP service for more efficient exchange and withdrawal to the card.

Charitable activity

By making an exchange or purchase of cryptocurrency, you help children and people who need our help. We deduct 0.1% of the profit from each transaction to charity funds.
This is the fastest and most comfortable way of charity, which allows you to bring together people who are not indifferent to other people’s problems. TKEY enables people to do good deeds, and the resulting turnover profit of 0.1% is sent to charity funds every month. Together with You, we create new opportunities for people in need who need help — “Big things have small beginnings”.
How does it work?
You have made an exchange or purchase operation, the company has accumulated the volume of these operations for a month->the company has chosen a charity Fund->sent funds to the charity Fund’s account. Priority charity funds are children’s aid funds. You can always suggest a candidate for a particular Fund by sending a message to [[email protected]](mailto:[email protected]).
Why do we write Funds and not a Fund?
This is the first launch of the service, so depending on the monthly volume, we will focus on distributing funds to one charity or several. For example, if we have accumulated $ 10,000, we can distribute $ 5,000 to 2 funds. if we have accumulated $ 100, it is logical that we will only send this amount to 1 Fund. With the development of the service, we will be able to focus on several funds, which we will actively help due to the received volume.

New sections, improvements for existing services

Menu logic and site structure

The menu logic has been revised. now more items are available on the menu and they are divided into sections. Navigation through the sections has become much easier and more convenient. for some sections, QR codes are available for Russian and English-speaking audiences, and for representatives of Asian countries, all sections are available by QR code.

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TKEYSPACE Promo Page

New blocks were added, the entire page was fully localized and is available in Chinese, Korean, English and Russian, and QR codes were added for easy navigation for the Asian audience.

Documentation for the exchange

We have already mentioned that there is a section for exchanges with the necessary documentation for listing, now it is available in English. In the next updates, it will be translated into Russian, Chinese (Traditional and Simplified), and Korean.

Market Data (Coin Data)

The market data section has been optimized for mobile apps. Charts are expanded and optimized page borders for most mobile devices, and you can search for cryptocurrencies and tokens that interest you.

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FAQ

Added answers to frequently asked questions in various sections of the site, You can find the information directly on the section page, for example, TKEY-QT, SWAP or Core. Right on the page there is a FAQ section, in which we disclose answers to questions, for example: How are You going to solve the scalability problem, or why did you choose Phoenix as the logo and symbol of the project, or how do you exchange cryptocurrency for pound or dollars? As you can see, you can get answers to different questions, depending on the topic of the site section.

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Footer

For convenience, the site’s footer has been expanded and new sections (quick tabs) are included, which are also available in the QR-code format. In addition to various details, the footer is now accompanied by the company’s coat of arms — the Phoenix, which is the symbol of the entire community, the Phoenix Alliance.

https://preview.redd.it/xija83vjwe151.png?width=700&format=png&auto=webp&s=dd7ce476b53ebe2a891d32231725650bac7ba181

Page 404

Added page 404, which is also an integral part of the site. now when you go to a non-existent site page, all the necessary menu items are fully available to us, which will quickly Orient You and direct you to the desired section.

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What is waiting for us in the nearest future?

In addition to various improvements, connecting services, our team has been working every day on other main areas of the Tkeycoin project, which are already being prepared for the next release and we will tell you what updates, what plans, events, and what else will be interesting this year.

Online conference with management

An online conference in question-answer format will be organized. The main task of the conference, in addition to questions and answers, is to discuss plans, talk about new directions, touch on issues of legislation, and analyze current issues of users.
The online meeting format will allow you to get feedback and discuss a large number of issues in a short time. Questions related to technical support and other questions that can be answered through the administration will not be discussed.
The meeting involves the development, constructive, and suggestions from users for further development of the Tkeycoin project. If you are interested in participating in the conference, you can also make business proposals during it, please use the time to your advantage. We work for you.

New content: reports, new categories, useful information

Based on user feedback, we introduce new categories to our content plan:
Reports This section will be accompanied by information about the work done by the team for the month, the format of submission — abstracts, highlights. This format will help establish feedback between users and developers.
Question-answer
In addition to the content that we produce ourselves, users have questions that arise during the process of working with the project’s services, as well as during interaction with the project itself. To avoid making guesses and making up stories, we have introduced the question-answer category.
Users ask questions in comments, and the company prepares answers based on the questions and they are published in the post. Depending on the number of questions, the post generates all the answers, or the post is divided into parts if the number of questions for the past period was the largest. In addition to asking questions, you can make suggestions to the project, for example, about new features or directions.
This format also builds feedback and helps to improve all services. the most important thing is that it can not only help us but also you, as the offer and questions will help you focus on the tasks that the end-user wants to see.

TKEY-POOL (Tkeycoin pool)

We are completing the work and debugging of the official pool for Tkeycoin, this is a completely new approach for mining Tkeycoin. The pool will feature higher performance and stable architecture, a light interface, and objective commissions.
A pool is a highly loaded system that works 24/7/365, it turns out that such a product hides a sufficient number of lines of code and, most importantly, is built on a reliable architecture that can withstand +50000–100000 miners, not to mention the number of connected devices for this number of miners.
A cryptocurrency pool is a combination of the hardware power of many miners at once to increase the probability of finding a block. The reward for a block obtained by the pool is distributed among all participants.
The TKEY pool is developed taking into account the features of the Tkeycoin blockchain, including multi-blockchain, transaction model, hashing, blocks, and other nuances that are an upgrade of the blockchain among others. Together with the pool, the TKEY network is being tested: high loads, attacks, and other tests that show positive results, proving that the TKEY blockchain can work under any loads and is protected from attacks.
Our task was to: 1. Stable system for handling high loads; 2. Adaptation pool for any software; 3. Connecting any hardware for mining cryptocurrency Tkeycoin; 4. Fair remuneration calculation; 5. Security.
The main goal is for any user, regardless of the software and hardware used, to be able to connect to Tkeycoin mining via a pool. The first releases will be accompanied by a simple user-friendly interface, easy connection, instructions for various mining programs that can be connected.
In future releases, we will optimize the operation of the pool, add new features, as well as tracking functions and other nice things. any suggestions from miners and the community are interesting to us and will be implemented, so do not hesitate to send your suggestions after the launch.

TKEYSPACE updates


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Work on the TkeySpace mobile app is also not standing still. We will soon release updates for TkeySpace on Android and iOS.
This release is a complete transition to the most stable version of the mobile wallet. This means that after the update, even with the largest changes, the user will not need to completely reinstall or restore to use the new features, as before, just update the app via the AppStore or GooglePlay.
Between the previous update has been a sufficient amount of time, on average, updates are released once a month. This update will be one of the major ones. We are finishing work on the code to prepare the app for the new features that will be available this year. Besides, we are improving the app’s logic, data processing speed, optimizing the code, restoring order, and preparing for the global market.

Exchange, purchase of cryptocurrency and withdrawal to the Debit/Credit Card


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In addition to pleasant optimizations, the app will display the exchange and withdrawal to a Bankcard, tab with an optimized page for exchange, withdrawal, and the purchase will be available directly in the mobile app. This upgrade will also capture the cryptocurrency exchange SWAP page, which can be evaluated after the update. Other features and new features will be announced by the developers immediately after the release.

SWAP Update

The development team is finishing work on optimizing the SWAP service. Regardless of updates, it is available in working mode 24/7/365. The team is working on improving the operation, optimizing the page, changing the interfaces, improving navigation, and speeding up query processing. This update is also among the upcoming ones, along with the pool, mobile wallets, and other news that will excite.

Network Statistics

In the network statistics section, there are several sections that will be fixed — this is the hash rate of the network and the volume of Tkeycoin. Now the volume of Tkeycoin is displayed by mTKEY, and the graph itself indicates M TKEY, the user may incorrectly understand the volume of transactions in the network, so, given the current volume, it is advisable to switch the display to TKEY, and in the future switch to mTKEY for large volumes.
TKEY is divided into cryptograms (CryptoGramm, cgr), uTKEY (keys), and mTKEY. 1 TKEY = 100 000 000 cryptograms. 1 mTKEY = 100,000 cryptograms. 1 TKEY contains 1000 mTKEY. 1 mTKEY = 0.00100000 TKEY 1 uTKEY =100 cryptograms 1 TKEY contains 1,000,000 utkeys. 1 uTKEY (keys) = 0.00000100 TKEY 1 cgr = 0.00000001 TKEY

Cryptocurrency Exchange

This issue has become the cause of mass discussions, disputes, investigations, the subject of memes, kitchen, and online conversations, that just did not happen, that TKEY is not taken anywhere, someone made guesses that we are waiting for everyone to run away, or TKEY is a world conspiracy and around some actors, you can write a book or shoot a great series, not worse than Breaking Bad.
Jokes, jokes, but the question is serious. Since the 4th quarter of last year, the company has been actively working on the issue of listing, prepared the necessary platform for this, held several meetings, negotiations, released the necessary products, figured out various transfers of funds to the blockchain, worked out many small things, many major issues that were behind the scenes. Everything is ready, and it’s time to start soon. This will be a surprise, believe it or not, and we will meet you on the stock exchanges :)

What other plans does the company have?

Enabling payment at retail outlets

After entering the exchange, we will actively engage in connecting payments to implement them and link them to TKEY. The plan, strategy, and legal component are ready.

Payment development

This implies the development of payments and services that will expand the use of digital currencies in the commercial sphere. Application on the territory of Russia will depend on the Federal law on the CFA, in any case, we plan to analyze the law, after its release, to find a legal way to implement payments based on blockchain and digital assets. Therefore, until the law is released, we are keeping this initiative in the future, and we will work on other jurisdictions that will support it.
We left some plans behind the scenes, because they will make the greatest impact on the market and the value of our asset, and this — likes silence.

What useful materials will be released soon?

How to effectively use the SWAP service together with the exchange and purchase of cryptocurrency from a Bank card?

We will tell you in detail how to use these 2 services, how to save on payments and purchases, how to exchange tokens that are very difficult to exchange, how to quickly get money for them to the card, and much more.

The law CFA

Our opinion about the law of cryptocurrencies in Russia, what to pay attention to, what to prepare for, how to act if there is a complete ban. Let’s talk about legal nuances and banking practices.

TKEY blockchain

In this material, we will talk about the blockchain, analyze the issues of the system, expand the questions on attacks, payment processing, and touch on the system of multiple chains. The article suggests your suggestions, perhaps someone will have ideas that we will implement in the chain.
At the end,
Don’t forget to ask questions in the comments or send suggestions to [[email protected]](mailto:[email protected]) we will be happy to respond and consider your requests for any of our services. Collaboration, feedback, help us make the whole platform better.
Thank you for being with us! Until new meetings, stay tuned for news, updates, because the most unexpected news comes spontaneously.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

The One Thing EVERYONE Must Know About the Dev Funding Plan: IT'S COMPLETELY FREE.

sigh I get so tired of having to stop working to put out a post explaining issues. If anyone else wants to join in I could use help. (actually I've seen Jonald F. do this before too, so thanks JF!)
Things are bad when even developers don't understand what's going on. So I'll try to clearly explain an important point on the Dev Funding Plan (DFP from now on) for the community: it's completely free. Yet we still get panicked posts saying Please Save Us from the TAX!!! Somebody Help!
You may be for or against the DFP, but either way please at least understand what you're forming an opinion on.
Let's start from the beginning. We know Bitcoin works on blocks and block coin rewards. The block reward, which started at 50 coins per block, and cuts in half approximately every 4 years, serves two purposes: it's a fair way to bring coins into circulation, but more importantly it provides security for the network.
For simplicity, please think of "security" as being measured in power bars. When the network first started, with just Satoshi and Hal Finney, there was 1 power bar. This power bar was made up of the electricity their combined computer hardware used to find blocks. They were the first miners. Bitcoin uses a difficulty level to adjust how hard or easy it is to find blocks. This level is important for a key reason: we want the inflation rate of coins (how fast they come into circulation) to stay about the same, regardless how many miners (computing power) suddenly comes online. If the difficulty is set at super easy, but suddenly a super computer comes online that computer can gobble up thousands of coins in minutes if not seconds, creating massive rapid inflation. So the first thing to understand is that due to the Difficulty Level Adjustment the rate of coins coming into circulation will always stay about the same, regardless how many miners join or leave the network.
Getting back to power bars. So the point of Bitcoin is there is no center, no fixed authority. The problem is we still need a decision made about which chain is valid. This is where proof-of-work comes in. Satoshi's fairly brilliant solution to a consensus decision, with no leader, was to simply look for the longest chain (technically the chain with most hashing work). The reasoning was: as there are far more ordinary people than there are governments and dictators a Bitcoin supported by the all the world's people should always be able to muster more hashrate than even rich governments.
So Bitcoin began and people saw the brilliance: even with a weak power bar level of 1 (a couple computers), Bitcoin was safe from 51% attacks and attacking govs competing for control of the chain because a super low hashrate meant Bitcoin wasn't popular and govs wouldn't bother paying attention. By the time Bitcoin was big enough for govs to worry about attacking it should also have so many participants the power bar level would be far higher, providing strong defense.
Let's say the ideal power bar level is 50,000. At this level no government on earth has enough resources to beat the grassroots network. We hear people brag about how much security BTC has. However, the marketcap for all of BTC is about $160B. Countries like the U.S. and China have GDP measured in many trillions; a trillion is 1,000 billion. Does 160B really seem untouchable? For numeric comparison the main U.S. federal food assistance program cost the government $70B in 2016, representing about 2% of the budget. So the entirety of the BTC market cap is about twice the size of one welfare program, representing 2% of the overall budget. Where should we place the current security power bars if we want guaranteed safety from a determined U.S. gov? If 50,000 is guaranteed safe we're far from it. I'd say BTC is more like 5,000. That's still pretty decent.
Of course, BCH split from BTC... and didn't carry over all the miners and accompanying security. That's not an immediate concern because if BTC isn't on government's radar yet BCH sure isn't. However, that doesn't mean BCH doesn't need security from hostile forces. It's still a valuable network and needs defenses. Where would we put power bars for BCH? If BTC is 5,000 and BCH only has 3% of that hashrate then BCH has just 150. That's it.
How the Developer Funding Plan Works
Back to the DFP. What this says is as a community we agree to break off a piece of the block reward and instead of giving 100% to miners we give a small percent to developers. If each block is 10 coins and the price is $300 then winning a block means winning $3,000. Of course that's not all profit because miners have electricity and other expenses to pay before calculating profit. So if we reduce the portion of the miner reward by 10% so they get just 9 coins per block yet the price stays the same what happens? It means miners receive $2,700 for the same effort. We've just made it more expensive to mine BCH from the point of view of miners. What would any miner then rationally do? Seek profitability elsewhere if available. Suddenly BTC SHA256 hashing looks slightly more attractive so they'll go there. Hashrate leaves BCH and goes to BTC, but the key important point is BOTH chains have a difficulty adjustment algorithm which adjusts to account for rising or lowering miners overall, which keeps the coin inflation rate steady. This means BTC total hashrate rises (more miners compete for BTC) and its Difficulty Level rises accordingly, so the same rate of BTC pumps out; on BCH total hashrate falls (less miners compete for BCH) and its Difficulty falls, so the same rate of BCH pumps out. Inflation remains about the same on both coins so the price of both coins doesn't change any, beyond what it normally does based on news/events etc.
So what difference is there? The difference is total network security. Hashrate totals have changed. BTC gains more miner securing hashrate while BCH loses it. So BTC goes from 5,000 to say 5,100 power bars. BCH goes from about 150 to 140.
Does any of that matter in the grand scheme of things? Not in the slightest. Part of the reason is due to our emergency circumstances with BCH we had to rework our security model. Our primary defense is an idea I came up with, which BitcoinABC implemented, saying it's not sheer hashpower that dictates what chain we follow. We won't replace a chain we're working on if a new one suddenly appears if it means changing more than 10 blocks deep of history. This prevents all the threatening hashrate hanging over our heads from mining a secret chain and creating havoc unleashing it causing 10+ confimed txs to be undone, while exchanges, gambling sites etc. have long since paid out real world money.
Switching $6M worth of block rewards from mining to devs just means we lose a bit of hashrate security, while we gain those funds for development. Nothing more. Nobody holding BCH pays in the form of inflation or any other way. It costs literally NOTHING BECAUSE The block reward is ALREADY ALLOCATED. It will EITHER go 100% to mining security if we do nothing, or go to both miners and devs if the plan is put into effect. Hopefully this helps.
:)
TL;DR: we switch security which we don't really need, for developer funding which we do.
submitted by cryptos4pz to btc [link] [comments]

I earned about 4000% more btc with my android tablet than with a $250 ASIC mini rig setup using GekkoScience Newpac USB miners!

Requirements:
1.) Android Device with access to Google Play Store. *I haven't tried yet but you may be able to use tis on Android TV devces as well by sideloading. If anyone has success before I try, let me know! -Note, I did this with a Samsung Galaxy Tab S6 so its a newer more powerful device. If your android is older, your profts will most likely be less than what I earned but to give a projected range I also tested on my Raspberry Pi 4 running a custom LineageOS rom that doesn't allow the OS to make full use of the Pi's specs and I still got 500 h/s on that with Cloud boost, so about 60% of what my Tab 6 with MUCH Higher Specs does.
**Hey guys. Before I get started i just wanted to be clear about one thing. Yes I have seen those scammy posts sharing "miracle" boosts and fixes. I have a hard time believing stuff online anymore. But this is honestly real. Ill attach photos and explain the whole story and process below. Thanks for taking the time to read and feel free to share any thoughts, concerns, tips, etc*
So last week I finally got started with my first mini rig type mining build. I started getting into crypto about a year ago and it has taken me a long time to even grasp half of the projects out there but its been fun thus far! Anyways my rig was 2 GekkoScience Newpac USB miners, a Moonlander USB miner to pair with an FPGA i already had mining, a 10 port 60W 3.0 USB hub and 2 usb fans. The Newpacs actually are hashing at a combined 280 g/s which is actually better than their reported max hash rate when overclocked. Pleasant surpise and they are simple!! I just wanted to get a moonlander because my fpga already mines on Odocrypt for DGB and I just wanted to experience Scrypt mining and help build the DGB project. The Newpacs are mining BTC though.
After I got everything up and running i checked my payout daily average after 1 week. I averaged .01 a day TOTAL between all three miners with them all perforing ABOVE SPEC!!! I had done research so i knew I wouldnt earn much. More than anything i just wanted to learn. But still. I was kinda surprised in a negative way. Yesterday I actually earned less than .01 Frustrated I went back to scouring the web for new ideas. About a year ago, when II was starting, I saw an app on my iphone called CryptoBrowser that claimed to mine btc on your phone without actually using phone resources using a method of cloud mining. I tried it for a week and quit because I earned like .03 after a ton of use and seemed scammy. Plus my iphone actually would get very hot when doing this so I quit using it as it seemed like a possible scam with all the cryptonight browser mining hacks and malware out there.
Anyways I was on my Galaxy Tab S6 and saw that CryptoBrowser released a "PRO" edition for 3.99 on Google Play. I bought it for Sh*ts and giggles and booted it up. It came with what they called "Cloud Boost" Essentially this is a button you press and it multiplys the estimated hashrate that it gives you device by the number shown on the boost button. (With the purchase of PRO you get one free x10 boost. You can purchase additional boosts to use with other android devices but those are actually pretty pricy. Another x10 boost was like $25 if i remember correctly).
I played with it for about an hour to see if it actually worked like it said it would this time. To my surprise, as i was browsing, my device didnt increase in temperature AT ALL!!!!! I checked my tast manager to confirm and it was indeed true, my memory and usage barely went up. it was giving me an estimated range of 80-105 on the hashrate. Once i pushed the x10 boost button, that went to 800-1150 h/s. I switched my screen to not go to sleep, plugged it to the charge and let it run on the browser page, hashing. When you push the boost button, it runs for 3 hours at the boosted speeds. After that it goes back to normal but if you press the button again, it boosts everything again. There is no limit to how many times you use it. After checking what I earned after 24 hours, I HAD MADE .40 in BTC!!!!! I JUST EARNED OVER 4000% MORE THAN MY $280 MINING RIG EARNED ME!!!! I was blown away. Maybe this was a fluke? I did it again next day. Every 3 hours or so I would push the button again but thats all. Sure enough, .35 that day. Also, it realy BTC. I requested a payout and although it took like 12 hours for them to send me an email stating they had just sent it, I actually did recieve the state amount of BTC within 24 hours in my personal wallet. The fees to send are SUPER LOW!. Like .01
Below I will list the steps I took, along with an explanation of thier "Mining" process on Androids. Reminder, this ONLY WORKS ON ANDROIDS. Also DO NOT use cryptobrowser on a physcal laptop or desktop. I ran it on an old laptop for three days last year and it fried it. It does actually use your hardware on those platforms to mine and it is not efficnet at all as I suspect they prob steal over half of your power for themselves using the REAL RandomX protocol via browser mining which is EXTREMELY INEFFICIENT DONT TRY IT!!
-----How To Do This Yourself:
Cryptotab Browser states the program works on Android devices by estimating what it thinks the hashrate would be for your device specs and siimulates what you would mine in a remote server however you still earn that estimated coin amount. It is not a SHA-256 process or coin that they say is mining, rather it is XMR and they swap that and pay it out to you in BTC Bitcoin. However I know damn well my Tab S6 doesnt hash 80-105 h/s on RandomX because I have done it with a moodified XMRig module i ported to Android. I got 5 h/s a sec if I was getting any hashes at all. But thats besides the point as I still was making money.
Now, when you press that cloud boost button it immediately boosts that hash rate it estimates by the number on the cloud boost. As stated above, you can purchase more boosts and gift them or use them on extra android devices that you may have. Again, they are pricey so I'm not doing that plus it would just mean that I have another device that I have to leave on and open. The boosts come in x2, x4, x6, x8 and x10 variants. Again, they have unlimited uses.
Here is the link to grab yourself CryptoBrowser Pro from CryptoTab. This IS A REFERRAL LINK! This is where I benefit from doing tis tutorial. Like i said, I want to be transparent as this is not a scam but I'm also not doing this out of the love of my heart. Their referral system works in that people that use the donwload the app using your link are your stage 1 referrals. Anytime they are mining, you earn a 15% bonus. So say they mine $.30 one day. You would get paid out an additional $.045 in your own balance (it does not come out of the referred user balance fyi so no worries). Then lets say that referred miner also gets their own referrals. I would get a 10% bonus on whatever THOSE people mine. This goes on and on for like 8 tiers. Each tier the bonus percntage essential halves. So again, I stand to benefit from this but it also is stupid to not make this visible as its WAY CHEAPER, EASIER AND MORE PROFITABLE TO GET BTC USING THIS METHOD THAN IT IS USING ASICS!! THIS EARNS ALMOST AS MUCH BTC AS AN ANTMINER S7 DOES RUNNING 24/7 ONLY WITHOUT THE HUGE ELLECTRICTY BILL AND COSTS!!!!)
Thats it. Again, if you have concerns, let me know or if you have suggestions, other tips, etc... mention those as well!!!
https://cryptotabbrowser.com/8557319
Links to Picture Proof http://imgur.com/gallery/P13bEsB
submitted by Afraid_Balance to earnbitcoin [link] [comments]

Reviewing Rocket Pool: Why Was it Created?

Rocket Pool is an Ethereum infrastructure service. Individuals and companies wishing to earn interest on their Ether for a fixed period can use the decentralized network of Rocket Pool to participate in the staking. Exchanges, staking pools, and wallets can easily provide customers with stake verification services using the Rocket Pool API and its unique decentralized network of node operators.

Backstory

Since Ethereum was launched in 2015, it has been widely used in the crypto-world. And although it may have been in the shadow of Bitcoin for a long time, Ethereum 2.0 — the current update of the network — will enable the transition from Proof-of-Work to Proof-of-Stake algorithm.
Casper is the planned Ethereum network update that will move the blockchain from the PoW to PoS. Miners will be replaced by validators. The work of validators will not require hardware calculations — instead, it will be necessary to have a certain amount (steak) of coins on a special deposit.
The founders of Ethereum have repeatedly pointed out the undesirability of the emergence of large pools of validators, as this reduces the degree of decentralization of the system. However, the probability of assigning a validator to a block is weighted by the size of its deposit. So, large players may have additional votes in Ethereum development.

What is Rocket Pool?

Australian startup Rocket Pool has developed a validator pool platform that will allow Ether holders to earn with a deposit of 1 ETH instead of declared 32 ETH on the Beacon chain. Or just 16 ETH for a node operator. The minimum stake amount will vary, depending on the price of ETH.
Four other features of the Rocket Pool that may be attractive to users:
  1. Casper requires validators to be technically proficient at running an Ethereum node 24/7 and keeping that node online and secure. Rocket Pool takes care of this part by offering simple interfaces.
  2. The possibility of early withdrawal: validators do not have such an opportunity. Rocket Pool allows you to withdraw funds ahead of schedule in native rETH tokens with a commission of 5%. These tokens can be sold on the market.
  3. The user should know how to interact with smart contracts while registering with the Beacon chain. Rocket Pool undertakes the fulfillment of all interactions with Beacon chain contracts for the user.
  4. The Beacon chain will penalize users who make a deposit but cannot maintain their node on the network. The Rocket Pool uses a unique method called “chinking”, which significantly reduces the storage risk by distributing one storage across a decentralized network of nodes.

Key principles of the Rocket Pool

The process of transferring Ether from a user's wallet to a Casper stake consists of three steps:
  1. A user creates an ETH deposit on a smart contract and selects its term using a simple web application. Minimum 1 ETH, valid for 3, 6, or 12 months.
  2. Smart contracts “pack” ether into mini-pools with the same duration and integrate them into “smart nodes” that have technical resources (server, CPU, memory, bandwidth) as soon as they satisfy the minimum amount set by the protocol.
  3. Smart nodes make stakes on Casper, receive rewards for work, and distribute it. The system charges a fee, the amount of which depends on many factors, for example, the price of ETH, network reward, type of equipment, and the optimal number of mini-pools per node.

Rocket Pool Economic Model

The Rocket Pool economy consists of two types of tokens:
Rocket Pool Token (RPL) — is the protocol token that underlies the entire pool system. 18 million RPLs were sold at ICOs at the end of 2017. Its main function is to demonstrate to the whole network what deposit this smart node can count on — it should contain as many RPLs as this node can use in the rate, taking into account its technical characteristics (CPU, SSD, memory, network speed). In the future, a third-party hosting professional can become a smart node operator. The current price per RPL token is about $2.29.
Rocket Pool Beacon Chain ETH Token (rETH) enables deposits, staking rewards are paid out as rETH in order to give node operators and stakers liquidity before Serenity Phase 2.
An rETH:ETH pair can also be available during the integration with other token markets such as those on Uniswap. Thus, the users who withdraw on Rocket Pool can have their withdrawal converted to actual ETH if liquidity for the rETH pair on Uniswap is acceptable.
Of course, it’s up to you to decide whether to use it or not. Our responsibility is to keep you informed.
submitted by CoinjoyAssistant to ethtrader [link] [comments]

Reviewing Rocket Pool: Why Was it Created?

Rocket Pool is an Ethereum infrastructure service. Individuals and companies wishing to earn interest on their Ether for a fixed period can use the decentralized network of Rocket Pool to participate in the staking. Exchanges, staking pools, and wallets can easily provide customers with stake verification services using the Rocket Pool API and its unique decentralized network of node operators.

Backstory

Since Ethereum was launched in 2015, it has been widely used in the crypto-world. And although it may have been in the shadow of Bitcoin for a long time, Ethereum 2.0 — the current update of the network — will enable the transition from Proof-of-Work to Proof-of-Stake algorithm.
Casper is the planned Ethereum network update that will move the blockchain from the PoW to PoS. Miners will be replaced by validators. The work of validators will not require hardware calculations — instead, it will be necessary to have a certain amount (steak) of coins on a special deposit.
The founders of Ethereum have repeatedly pointed out the undesirability of the emergence of large pools of validators, as this reduces the degree of decentralization of the system. However, the probability of assigning a validator to a block is weighted by the size of its deposit. So, large players may have additional votes in Ethereum development.

What is Rocket Pool?

Australian startup Rocket Pool has developed a validator pool platform that will allow Ether holders to earn with a deposit of 1 ETH instead of declared 32 ETH on the Beacon chain. Or just 16 ETH for a node operator. The minimum stake amount will vary, depending on the price of ETH.
Four other features of the Rocket Pool that may be attractive to users:
  1. Casper requires validators to be technically proficient at running an Ethereum node 24/7 and keeping that node online and secure. Rocket Pool takes care of this part by offering simple interfaces.
  2. The possibility of early withdrawal: validators do not have such an opportunity. Rocket Pool allows you to withdraw funds ahead of schedule in native rETH tokens with a commission of 5%. These tokens can be sold on the market.
  3. The user should know how to interact with smart contracts while registering with the Beacon chain. Rocket Pool undertakes the fulfillment of all interactions with Beacon chain contracts for the user.
  4. The Beacon chain will penalize users who make a deposit but cannot maintain their node on the network. The Rocket Pool uses a unique method called “chinking”, which significantly reduces the storage risk by distributing one storage across a decentralized network of nodes.

Key principles of the Rocket Pool

The process of transferring Ether from a user's wallet to a Casper stake consists of three steps:
  1. A user creates an ETH deposit on a smart contract and selects its term using a simple web application. Minimum 1 ETH, valid for 3, 6, or 12 months.
  2. Smart contracts “pack” ether into mini-pools with the same duration and integrate them into “smart nodes” that have technical resources (server, CPU, memory, bandwidth) as soon as they satisfy the minimum amount set by the protocol.
  3. Smart nodes make stakes on Casper, receive rewards for work, and distribute it. The system charges a fee, the amount of which depends on many factors, for example, the price of ETH, network reward, type of equipment, and the optimal number of mini-pools per node.

Rocket Pool Economic Model

The Rocket Pool economy consists of two types of tokens:
Rocket Pool Token (RPL) — is the protocol token that underlies the entire pool system. 18 million RPLs were sold at ICOs at the end of 2017. Its main function is to demonstrate to the whole network what deposit this smart node can count on — it should contain as many RPLs as this node can use in the rate, taking into account its technical characteristics (CPU, SSD, memory, network speed). In the future, a third-party hosting professional can become a smart node operator. The current price per RPL token is about $2.29.
Rocket Pool Beacon Chain ETH Token (rETH) enables deposits, staking rewards are paid out as rETH in order to give node operators and stakers liquidity before Serenity Phase 2.
An rETH:ETH pair can also be available during the integration with other token markets such as those on Uniswap. Thus, the users who withdraw on Rocket Pool can have their withdrawal converted to actual ETH if liquidity for the rETH pair on Uniswap is acceptable.
Of course, it’s up to you to decide whether to use it or not. Our responsibility is to keep you informed.
submitted by CoinjoyAssistant to EtherMining [link] [comments]

Reviewing Rocket Pool: Why Was it Created?

Rocket Pool is an Ethereum infrastructure service. Individuals and companies wishing to earn interest on their Ether for a fixed period can use the decentralized network of Rocket Pool to participate in the staking. Exchanges, staking pools, and wallets can easily provide customers with stake verification services using the Rocket Pool API and its unique decentralized network of node operators.

Backstory

Since Ethereum was launched in 2015, it has been widely used in the crypto-world. And although it may have been in the shadow of Bitcoin for a long time, Ethereum 2.0 — the current update of the network — will enable the transition from Proof-of-Work to Proof-of-Stake algorithm.
Casper is the planned Ethereum network update that will move the blockchain from the PoW to PoS. Miners will be replaced by validators. The work of validators will not require hardware calculations — instead, it will be necessary to have a certain amount (steak) of coins on a special deposit.
The founders of Ethereum have repeatedly pointed out the undesirability of the emergence of large pools of validators, as this reduces the degree of decentralization of the system. However, the probability of assigning a validator to a block is weighted by the size of its deposit. So, large players may have additional votes in Ethereum development.

What is Rocket Pool?

Australian startup Rocket Pool has developed a validator pool platform that will allow Ether holders to earn with a deposit of 1 ETH instead of declared 32 ETH on the Beacon chain. Or just 16 ETH for a node operator. The minimum stake amount will vary, depending on the price of ETH.
Four other features of the Rocket Pool that may be attractive to users:
  1. Casper requires validators to be technically proficient at running an Ethereum node 24/7 and keeping that node online and secure. Rocket Pool takes care of this part by offering simple interfaces.
  2. The possibility of early withdrawal: validators do not have such an opportunity. Rocket Pool allows you to withdraw funds ahead of schedule in native rETH tokens with a commission of 5%. These tokens can be sold on the market.
  3. The user should know how to interact with smart contracts while registering with the Beacon chain. Rocket Pool undertakes the fulfillment of all interactions with Beacon chain contracts for the user.
  4. The Beacon chain will penalize users who make a deposit but cannot maintain their node on the network. The Rocket Pool uses a unique method called “chinking”, which significantly reduces the storage risk by distributing one storage across a decentralized network of nodes.

Key principles of the Rocket Pool

The process of transferring Ether from a user's wallet to a Casper stake consists of three steps:
  1. A user creates an ETH deposit on a smart contract and selects its term using a simple web application. Minimum 1 ETH, valid for 3, 6, or 12 months.
  2. Smart contracts “pack” ether into mini-pools with the same duration and integrate them into “smart nodes” that have technical resources (server, CPU, memory, bandwidth) as soon as they satisfy the minimum amount set by the protocol.
  3. Smart nodes make stakes on Casper, receive rewards for work, and distribute it. The system charges a fee, the amount of which depends on many factors, for example, the price of ETH, network reward, type of equipment, and the optimal number of mini-pools per node.

Rocket Pool Economic Model

The Rocket Pool economy consists of two types of tokens:
Rocket Pool Token (RPL) — is the protocol token that underlies the entire pool system. 18 million RPLs were sold at ICOs at the end of 2017. Its main function is to demonstrate to the whole network what deposit this smart node can count on — it should contain as many RPLs as this node can use in the rate, taking into account its technical characteristics (CPU, SSD, memory, network speed). In the future, a third-party hosting professional can become a smart node operator. The current price per RPL token is about $2.29.
Rocket Pool Beacon Chain ETH Token (rETH) enables deposits, staking rewards are paid out as rETH in order to give node operators and stakers liquidity before Serenity Phase 2.
An rETH:ETH pair can also be available during the integration with other token markets such as those on Uniswap. Thus, the users who withdraw on Rocket Pool can have their withdrawal converted to actual ETH if liquidity for the rETH pair on Uniswap is acceptable.
Of course, it’s up to you to decide whether to use it or not. Our responsibility is to keep you informed.
submitted by CoinjoyAssistant to ethereum [link] [comments]

Cool sexy name for the new pay rpc thing.

We do a lot of neat stuff here. Well, we is not correct. A lot of people here do a lot of neat stuff. I just get excited and try to use it.
One of the most recent things is this pay for rpc service thing. Its here:
https://github.com/monero-project/monero/commit/2899379791b7542e4eb920b5d9d58cf232806937
And its all CLI now, so if you can navigate that its not hard to figure out.

This. Development. Is. Amazing.

First and foremost, what we have here is a micropayments system that doesn't use the blockchain.
....
its a "layer 2 solution".... well, actually, its not. Its like a hyperlayer. Its a hyperlayer solution. What we've done here is notice there is a component of monero's fundamental protocol ( the decentralized proof of work ) that can be useful.
Although, if you step back, its really not entirely novel, per se. I mean, obviously, its kinda similar to some of the original ideas with proof of work - like in spam prevention, you would have to do some work before sending someone an email.
And this has kinda been done in bitcoin, long ago, when you could mine something reasonable with your home PC, or hell, a phone. But it obviously didn't catch on, because it soon became impossible to do any sort of mining with commodity hardware in bitcoin.
Sure, in some future, all devices could come with a built in sha256 ASIC so that you could provide work to access whatever online content you want...
shit, im getting ahead of myself.
The entire thing here is that we have micropayments - universal micropayments that ANYONE CAN MAKE just using their device - that don't settle on the blockchain... (well they do, but you get my point). So they don't clog up the blockchain.
This has been somewhat developed here:
https://repo.getmonero.org/selene/primo
But yeah, back to the revolutionary point. Everyone has a monero mining device. EVERYONE. If you have some kind of circuitry with at least 2 MB cache and 4 GB ram, you can use that device to pay for content even if you can't access any currency system AT ALL.
WUT
The revolution will not be centralized.
Man, I forgot the point of this post. Just read the title.
My point is, we do awesome stuff here. And then we just let it sit there. We need to do some PR, or develop some sexy website that you have to submit hashes so your crypto kitties can mate with some crypto wombats and make jerklenorbs, and we gotta call it something cool. I was thinking HFS, hash for service, but maybe something like....

Hyperpay Protocol

or

Hyperblock Payments

And no other cryptocurrency can do this! Monero, right now, and hopefully forever, is claiming the silicon space by matchings its proof of work to the ubiquitous silicon already out there! People can send in hashes from their existing phone chips because those hashes actually have value in monero. In an ASIC network, your phones hashes would be useless. And the centralized PoW chains can never get this technology, because the centralized mining forces will always win. Always.
So yeah, what should we call it.
submitted by gingeropolous to Monero [link] [comments]

Reviewing Rocket Pool: Why Was it Created?

Rocket Pool is an Ethereum infrastructure service. Individuals and companies wishing to earn interest on their Ether for a fixed period can use the decentralized network of Rocket Pool to participate in the staking. Exchanges, staking pools, and wallets can easily provide customers with stake verification services using the Rocket Pool API and its unique decentralized network of node operators.

Backstory

Since Ethereum was launched in 2015, it has been widely used in the crypto-world. And although it may have been in the shadow of Bitcoin for a long time, Ethereum 2.0 — the current update of the network — will enable the transition from Proof-of-Work to Proof-of-Stake algorithm.
Casper is the planned Ethereum network update that will move the blockchain from the PoW to PoS. Miners will be replaced by validators. The work of validators will not require hardware calculations — instead, it will be necessary to have a certain amount (steak) of coins on a special deposit.
The founders of Ethereum have repeatedly pointed out the undesirability of the emergence of large pools of validators, as this reduces the degree of decentralization of the system. However, the probability of assigning a validator to a block is weighted by the size of its deposit. So, large players may have additional votes in Ethereum development.

What is Rocket Pool?

Australian startup Rocket Pool has developed a validator pool platform that will allow Ether holders to earn with a deposit of 1 ETH instead of declared 32 ETH on the Beacon chain. Or just 16 ETH for a node operator. The minimum stake amount will vary, depending on the price of ETH.
Four other features of the Rocket Pool that may be attractive to users:
  1. Casper requires validators to be technically proficient at running an Ethereum node 24/7 and keeping that node online and secure. Rocket Pool takes care of this part by offering simple interfaces.
  2. The possibility of early withdrawal: validators do not have such an opportunity. Rocket Pool allows you to withdraw funds ahead of schedule in native rETH tokens with a commission of 5%. These tokens can be sold on the market.
  3. The user should know how to interact with smart contracts while registering with the Beacon chain. Rocket Pool undertakes the fulfillment of all interactions with Beacon chain contracts for the user.
  4. The Beacon chain will penalize users who make a deposit but cannot maintain their node on the network. The Rocket Pool uses a unique method called “chinking”, which significantly reduces the storage risk by distributing one storage across a decentralized network of nodes.

Key principles of the Rocket Pool

The process of transferring Ether from a user's wallet to a Casper stake consists of three steps:
  1. A user creates an ETH deposit on a smart contract and selects its term using a simple web application. Minimum 1 ETH, valid for 3, 6, or 12 months.
  2. Smart contracts “pack” ether into mini-pools with the same duration and integrate them into “smart nodes” that have technical resources (server, CPU, memory, bandwidth) as soon as they satisfy the minimum amount set by the protocol.
  3. Smart nodes make stakes on Casper, receive rewards for work, and distribute it. The system charges a fee, the amount of which depends on many factors, for example, the price of ETH, network reward, type of equipment, and the optimal number of mini-pools per node.

Rocket Pool Economic Model

The Rocket Pool economy consists of two types of tokens:
Rocket Pool Token (RPL) — is the protocol token that underlies the entire pool system. 18 million RPLs were sold at ICOs at the end of 2017. Its main function is to demonstrate to the whole network what deposit this smart node can count on — it should contain as many RPLs as this node can use in the rate, taking into account its technical characteristics (CPU, SSD, memory, network speed). In the future, a third-party hosting professional can become a smart node operator. The current price per RPL token is about $2.29.
Rocket Pool Beacon Chain ETH Token (rETH) enables deposits, staking rewards are paid out as rETH in order to give node operators and stakers liquidity before Serenity Phase 2.
An rETH:ETH pair can also be available during the integration with other token markets such as those on Uniswap. Thus, the users who withdraw on Rocket Pool can have their withdrawal converted to actual ETH if liquidity for the rETH pair on Uniswap is acceptable.
Of course, it’s up to you to decide whether to use it or not. Our responsibility is to keep you informed.
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

What you should know about the bitcoin halving

What you should know about the bitcoin halving
https://preview.redd.it/wl6l09melkv41.png?width=1025&format=png&auto=webp&s=67a72ac734ae8dc39452143ac9c4ec5d58c34eac
Whether you’re a crypto faithful or just a passer-by who happened to notice a bitcoin headline, you’ve likely come across the halving.
The roughly quadrennial event is arguably an important one in the progression of the bitcoin network. For all the adjustments and changes to bitcoin’s code since its launch – and the evolution of the ecosystem and industry around it – the issuance cycle and bitcoin’s predetermined supply have never been altered.
The halving is, perhaps, emblematic of both bitcoin’s philosophical basis as well as its technical progression. It’s also a heck of a lot of fun, with past halvings inspiring celebrations and watch-parties for those counting down each block until the halving officially kicks in.
So, let’s get into it.

What is the bitcoin halving?

First, some basics. Each bitcoin block brings three things with it: transactions, newly-created bitcoins and fees.
For example, block number 625875 included 1,478 transactions worth 4899.23684782 BTC. The block was created by BTC.com. In exchange for making that block, BTC.com earned 12.5 BTC and 0.08439752 BTC in fees.
When bitcoin first launched, each block had a subsidy of 50 BTC. In 2012, that amount fell to 25 BTC per block, and in 2016 it was further reduced to 12.5 BTC per block. With upcoming halving – currently estimated to take place in or around May 12, when the network hits its 630,000th block – that amount will drop to 6.25 BTC per block.
To date, roughly 18.3 million bitcoins have been minted out of a total of 21 million that will ever be created.

Wait, what’s a miner?

Miners create the blocks of transactions that make sending BTC throughout the distributed bitcoin network possible. They append new blocks to the ever-growing chain – that’s the blockchain – and are rewarded with new bitcoins for doing so.
To create block 625875, BTC.com ran its miners and sought to be the first to create the next block. Mining is resource-intensive by design, and while some have described the process as an effort to solve a complex mathematical problem, a more apt description might be that miners rapidly try forming different numbers until they land on the right one.
Mining is a key element of Bitcoin’s security. As more blocks are added, it becomes more difficult to rewind the transactional clock and undo transactions from earlier blocks.
The generation of new BTC is how miners make money; their profits come from the sale price minus the cost of electricity, labor and everything else it takes to keep their legions of mining machines humming. The block reward is also the bedrock incentive for miners to keep the block production process – and, as a result, the transaction history – honest. By getting paid in bitcoin, they have an interest in seeing its price stay steady. A transaction history prone to manipulation or tampering would have no value.
The cycle of block reward or subsidy halvings is baked into bitcoin’s code. The reward reduction underpins bitcoin’s controlled supply, serving as a kind of digital parallel to finite natural resources.
So miners create new bitcoins, and with the halving, they’ll create fewer new bitcoins.
Yes. As The Block highlighted on Monday, miners currently make an estimated $13.4 million per day in new bitcoin and fees. Once the halving kicks in, that’ll drop to about $6.7 million total in the even that prices remain steady.
Of course, that number may very well fluctuate depending on the market reaction in the hours, days, weeks and months ahead. For a deeper look, check out The Block’s Larry Cermak by-the-charts column on the halving published on Monday.
I heard that the price is going to go up with the halving. Is that true?
Much digital ink has been spilled in recent months on the question of whether bitcoin’s price will rise as a result of the halving.
There are varying theories as to why: the halving will bring new market entrants, the tightening of issuance will spur more buying, or history will basically repeat itself. For example, bitcoin’s price rose above $1,000 a year after its 2012 halving. The July 2016 halving saw bitcoin’s price around $660 – a year later, the price had soared above $2,000.
But those were, arguably, different times, and next month’s halving is the first to occur after the parabolic craziness of early 2018.
A price increase isn’t a foregone conclusion – though, to be sure, neither is a drop or a continuation of the status quo.
Okay…so the number isn’t going up?
Nobody knows. And this isn’t investment advice, so quit asking me.

Who will be affected by this?

One can expect that major portions of the bitcoin-facing industry could be impacted in one way or another.
As noted above, miners will see the primary element of their income – new bitcoins – be cut in half. That’s bad news for miners who are operating older, less efficient hardware or borrowed significant sums of money to get new equipment – especially those hit by the recent turbulence in crypto markets. Bitcoin’s hash rate – a measure of the network’s computational power – could slip as some operations find themselves unable to make a profit and thus are forced to power down.
Exchanges will be affected because they’ll be front-and-center for any market response. It could prove to be a boon for exchanges as they’ll arguably be in the best position to benefit from any positive market moves.

Where can I watch the halving take place?

The best vantage point would a block explorer, where live updates for new transaction blocks can be found.
Given that the vast majority of countries are currently in the midst of social distancing because of the coronavirus pandemic, it’s unlikely that in-person parties will be held.
But with everyone stuck at home, it’s virtually certain that those with a stake or interest in crypto will be online – from Twitter to Telegram to IRC – waiting for the third-ever bitcoin reward halving to take place.
Written By: Ben
Edited By: Mosun
Graphics By: Jacobite
submitted by Telos4africa to u/Telos4africa [link] [comments]

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Earn Bitcoin Online 2020 / BTC Mining Withdrawal Proof

The platform should be handled by experienced experts in blockchain technology and bitcoin mining hardware. I recommended choosing Best bitcoin miner, which gives you a good profit as a return. bitcoin mining hardware How make money online at home ... How to make money online without investment Free Bitcoin mining website 2020 Free Bitcoin mining website - Für den Schwerpunkt in c't 25/13 haben wir uns Mining-Hardware zum Schürfen von Bitcoins angeschaut -- vom ASIC-bestückten USB-Stick bis zum fetten PC mit drei GPUs. Category Hello Friends! Today we talk about best and legit bitcoin mining website this website is real and 100% legit please subscribe my channel for more vedios and press the bell icon web link=https ... DIY Bitcoin Mining: Hardware (part1) by Fred Yen. 7:45. How to Mine Bitcoins Using Your Own Computer by 99Bitcoins. 3:36. How To Build an 8 GPU Mining Rig Z270-P RX580 8G BlackOctane Ethereum ...

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