Bitcoin Price Prediction 2020, 2021, 2022, 2023 - Long
SAT solving - An alternative to brute force bitcoin mining
CelesOS Research Institute丨DPoW consensus mechanism-combustible mining and voting
The token economy and the blockchain complement each other, while at the same time, the consensus mechanism forms the basis of the blockchain, whom constitutes the basic technical framework of the token economy. The mainstream blockchain, like Bitcoin, Ethereum, and EOS have all compromised on certain aspects of the "impossible triangle" features. https://preview.redd.it/8ocq98swpt551.png?width=554&format=png&auto=webp&s=37ab0235c07b450217e22531ad5291d5b4bcbbee Bitcoin, as a decentralized digital currency, has sacrificed performance to meet the design requirements of decentralization and security, rendering it the target of highest attacking cost among all PoW public chains. The ASIC mining machines updates continually and new versions launch, both can continuously improve the computing power of the entire network. Ethereum 2.0 will use a proof of stake (PoS) consensus mechanism. On the Ethereum network, money can be transfered and smart contracts can be operated, presenting a more complicated application scenario. However, due to its low performance, Ethereum is more prone to get congested. EOS, as a blockchain application platform, is often suspected of being centralized. EOS uses a delegated proof of stake (DPoS) consensus mechanism. Having 21 super nodes responsible for bookkeeping and block generation, the EOS main network can handle more than 4,000 TPS now. However, due to its small number of nodes, it’s one of the three major public chains that are most easily questioned by the outside world on the "decentralization" feature. An inefficient blockchain will only be a game in the laboratory, and an efficient blockchain without decentralization will only be taken advantage of by big players. New generation consensus algorithm DPoW Is there any consensus mechanism that can achieve a better balance between decentralization and efficiency, and can give miners incentives to invest in hardware resources? If we separate the two acts of "acquiring accounting rights" and "receiving block rewards", the above dilemma can be solved. By separating the above two, DPoW has finally achieved the effect of balancing efficiency and centralization. https://preview.redd.it/www3h8swpt551.png?width=731&format=png&auto=webp&s=c0bf49a42751a9501828d0294bc9280f856c441e Drawing on the design concept and operating experience of the preceding consensus mechanisms, DPoW is a new-generation consensus mechanism formed based on PoB and DPoS. Before explaining DPoW, it’s necessary to introduce PoB. PoB (Proof of Burn) is called the burning proof mechanism. (Source: https://en.bitcoin.it/wiki/Proof_of_burn)) https://preview.redd.it/payq2duzpt551.png?width=554&format=png&auto=webp&s=4b8e9181d95d31a8d5b75a7acab27c851a4a3a4d PoB is a way to vote who has a commitment to the leadership of the network by burning tokens possessed. The greater the number of tokens burned, the higher the probability of gaining network leadership. PoB is a method of distributed consensus and an alternative method of proof-of-work mechanism. It can also be used to guide a cryptocurrency. https://preview.redd.it/4lmhs1i1qt551.png?width=554&format=png&auto=webp&s=e8c50b1638d8ec8d8a2dac2e842b50a2979984fb In the DPoW-based blockchain, the miner's mining reward is no longer a token, but a "wood" that can be burned-burning wood. Through the hash algorithm, miners use their own computing power to get the corresponding non-tradable wood after proving their workload eventually. When the wood has accumulated to a certain amount, it can be burnt in the burning site. DPoW technical solutions Voting with computing power is the biggest innovation of the present invention. It uses the proof of work of the PoW algorithm to replace the stakes as votes, yet retains the BFT-DPoS block generation mechanism. Specific steps are as follow:
POW question acquisition
Obtain the question of proof of work. The proof of work of the present invention is to perform a Hash operation on a PoW problem; the questions is:
target = hash(block_id + account) ^ difficulty
POW question answering
A mathematical hash operation of a random number (nonce) is performed on the question, and if the hash value obtained is less than a certain value, the question is answered; Question answering process:
Voting is to cast the specific answers to the question to the candidate BP. By such, it’s submitted to the blockchain and counted to the blockchain's status database; within an election period, the maximum value of the answer that each voter can calculate is N, and each answer can only be voted to one candidate BP, and the number of votes that can be cast is N. The information and process that voting requires:
Answer to the question
Voting objects (candidate BP)
Verify that the vote is valid
After verification, it will be credited to BP
4. Count the votes At the end of an election period, votes are counted and sorted top-down according to the number of votes under the name of the candidate BP. The top X candidate BPs are selected and inserted into the BP list, and the block generating order of the selected BP is written to the blockchain status database. If X is the number of BPs generated by the system, namely a multiple of 3, it will be set in the genesis block and cannot be changed.
The DPoW block generation mechanism is the same as BFT-DPoS. The elected BP negotiates a block generation ownership order based on its own network resource status. When each BP node has block generation rights, the block reward is a fixed reward for each effective irreversible block. At the same time, the blocks that have been generated use the BFT signature mechanism. After getting 2/3 BP's signature, the block will become an irreversible block. DPoW’s advantage in balance Compared with existing technical solutions, the DPoW consensus protocol has the following feature.
When the stock of burning wood is large, the nodes in the system tend to burn burning wood to vote instead of logging through computing power, which is similar to the DPoS under this situation.
When the stock of burning wood is few, the nodes in this system tend to log to obtain burning wood for voting, which is similar to PoW under this situation, presenting the feature of decentralization. In order to ensure the high-speed operation of the system and attract ticket sources, BP will maintain a stable investment in computer resources to keep the system highly efficient.
Choosing to vote by logging or burning wood depends on the nodes’ own optimal choice, resulting in constant choosing between the two consensus mechanisms of PoW and DPoS. This will make nodes tend to choose PoW when decentralization is needed, and to choose DPoS when efficiency is needed. For a system, whether it is decentralized does not depend on whether each block needs to be decentralized. The key is whether the system can provide a channel to decentralization and fair competition when needed. As long as the channel is reasonable, the system will be considered decentralized. By decoupling vote by logging and block generation, they can be done asynchronously to achieve the effects of decentralization and high efficiency. Learning and updating the preceding practices in blockchain technology, DPoW manages to achieve both decentralization and efficiency, as “having the cake and eating it”. 📷Website https://www.celesos.com/ 📷Telegram https://t.me/celeschain 📷Twitter https://twitter.com/CelesChain 📷Reddit https://www.reddit.com/useCelesOS 📷Medium https://medium.com/@celesos 📷Facebook https://www.facebook.com/CelesOS1 📷Youtube https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
[new] Provably Fair has been rewritten. BitDice uses nonce again. We process 50-70M bets per month, saving all secrets data for old bets was impossible ( we were way over 1TB of historical data ). Hence we decided to change secrets back to nonce as with BitDice V3. Dicebot compatibility should happen soon. [new] New setting to hide/show a max bet warning [security] BitDice became more secure than ever, on the push hooks we now run static code analysis and static security analysis. It's impossible to deploy invalid / insecure code now. [fix] General code refactoring, optimizations, new test coverage. [fix] It was previously possible to remove email from the account. [fix] Sign-in with username has been removed, you need to use an email instead. [fix] Does not set wallet lock if user sets the same whitelisted address or setting initially [del] Removed setting to show only bitcoin bets
To mine Bitcoin Rhodium you need to set up an XRC wallet and configure your miner of choice. You can choose between Web wallet, Electrum-XRC or Magnum wallet. To set up a web wallet please visit wallet.bitcoinrh.org. Or download and install Electrum-XRC wallet (recommended) for Windows, Linux and MacOS.
Any miner that supports X13 will be able to mine XRC. We have a few examples below of miners that are well tested with Bitcoin Rhodium network.
For any miner, configure the miner to point to:
(0–0.8 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3061 (0.8–2 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3062 (3–4 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3063 (5+ GH/s) stratum+tcp://poolcore.bitcoinrh.org:3064 with your XRC address as username and x as password. You don’t need to open an account on pool. You will be mining to XRC address and mined coins will be transferred to your wallet • after blocks reach 10 block maturity • after you mined up minimal amount of coins (currently 0.1 XRC) • sometimes mined blocks could get rejected by network (orphaned) after they were counted as valid blocks. This is normal network behavior to follow longest chain
CCMiner is a GPU-based miner (NVIDIA) Command to run your CCMINER: ccminer-x64.exe -a x13 -o stratum+tcp://poolcore.bitcoinrh.org:3062 -O :without -D — show-diff
Settings: Url: (0–2 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3062 (3–4 GH/s) stratum+tcp://poolcore.bitcoinrh.org:3063 (5+ GH/s) stratum+tcp://poolcore.bitcoinrh.org:3064 Algo: x13User: your XRC receiving address (make sure you set 2 distinct addresses for each hashing board) Pass: x Extranonce: leave off Priority set to 0 and 1 Once pool stratum address and your wallet as user are set up you should see your miner mining against XRC pool. When miner is working the status column is green. The pool and miner are incorrectly configured now as status says “Dead” highlighted in red.
Instructions for mining XRC on BSOD pool
Pool link:bsod.pw/en/pool/dashboard/XRC/ Use this code for your miner: -a x13 -o stratum+tcp://pool.bsod.pw:2582 -u WALLET.rig BSOD pool allows both solo and party mining.
For solo mining use code: -a x13 -o stratum+tcp://pool.bsod.pw:2582 -u WALLET.rig -p m=solo And for party mining use: -a x13 -o stratum+tcp://pool.bsod.pw:2582 -u WALLET.rig -p m=party.yourpassword
NOTICE: You can use us for North America and asia for Asia instead of euin your .bat file or config. You can also use BSOD pool’s monitor app forAndroidandiOS.
Instructions for mining XRC on ZERGPOOL
Zergpool offers low fees (just 0.5%) and also SOLO and PARTY mining with no extra fees. To mine XRC on Zergpool use this command lines for your miner:
Regular: -a x13 -o stratum+tcp://x13.mine.zergpool.com:3633 -u -p c=XRC,mc=XRC Solo: -a x13 -o stratum+tcp://x13.mine.zergpool.com:3633 -u -p c=XRC,mc=XRC,m=solo Party: -a x13 -o stratum+tcp://x13.mine.zergpool.com:3633 -u -p c=XRC,mc=XRC,m=party
Use your coin wallet address as username in mining software. Specify c=SYMBOL as password to identify payout wallet coin, and the same coin in mc=SYMBOL to specify mining coin. For more information and support please visit http://zergpool.com Notice that when there are more pools mining XRC in different geographic/availability locations choose the nearest to you as lowest priority and then add desirable fall back pool options in different geographic locations or pools. This is useful when one pool experiences issues, to fall back to different pool in Bitcoin Rhodium network.
Calculate your Bitcoin Rhodium mining profitability
Someone wants to perform a 51% attack on Einsteinium. Because I think that is not cool (not because of the moral aspect, but because it is a very easy task), I cordially invited him to try Burst. 51% attack susceptibility of small PoW coins is a well-known and long-standing problem. Since the attacks on Bitcoin Gold - classified as 'rare' by Forbes - and Verge we know it's not just theoretical. https://www.crypto51.app/ lists the theoretical cost for several PoW cryptocurrencies. There you also can see why I consider an attack on Einsteinium a very easy task. So we all believe Burst is pretty resistant to 51% attacks - but how resistant exactly? Here's my stab at it: First off, there is no such thing as "cost per 1h", because you have the upfront cost and time required to plot. I will assume some exceptionally talented and well funded hacker group could pull it off in 1 month at slightly lower cost than I was able to find. 1 month seems to be the minimum one can find in storage rentals. Therefore: 1 Month of 240 Petabyte of storage space: ~$5033165 (based on AWS S3 standard storage - not infrequent access - for "more than 500TB requirement" this is listed at $0.021 per GB per month, so I assumed $0.02 * 1024 * 240 * 1024) The capacity to plot this space within 1 month I base on the luxurious PMR 10TB Ironwolfs, not some SMR disks. If I assume each disk to be potentially plotted at its max speed (~ 220 MB/s) within 14 hours, I have 2 choices:
as many plotters as possible in parallel
plot in a way so we are finished in 1 month minus 1 hour (let's say 715 hours for the inevitable reserve even for 1337 hackers)
240 PiB in 10TB Ironwolfs is 27007 HDDs If a batch needs 14hours and I need to be finished in 715 hours, I have 51 sequential batches at most. Meaning, I need to plot roughly 530 HDDs per batch Plotting at 220 MB/s meaning 225280 KB/s, or 13516800 KB/min - meaning 52800 nonces/min Let's assume a p2.8xlarge AWS instance could plot 16 HDDs at once, we would need 34 such instances each priced $7.2/hour, meaning $245/h this would leave us at surprisingly low $175175 plotting cost Total cost: $5208340 If I choose to go for the ASAP plotting, I would need 1688 p2.8xlarge instances for 2 hours (if you want 1 hour of pure compute time, there is setup time and then you pay for each started hour) meaning even lower $24308. Total cost: $5057473 I'm making here lots of assumptions in favor of the hacking endeavor. Like:
The resources actually being available. In my experience Amazon puts quotas on the use far below what would be needed here
I'm assuming cheaper availability of both storage as well as compute instances than the cheapest prices I could find
I'm assuming theoretical performance (e.g. one/each GPU in p2.8xlarge being capable to deliver 141600 nonces/min)
So my best case (for the hacker) scenario is $5M cost of a 1h 51% attack on Burstcoin. If the person would choose to mine and sell the Burst before the attack, he could theoretically have mined 1.74 million Burst in the "slow plot" case, representing $17400. This could either be subtracted from the total cost or assumed to have been paid for all the adverse events (for the hacker) that'd were likely to occur in such an attack scenario In the "fast plot case" mining revenue would be roughly double of that: ~$34800 What was surprising for me, that the cost for plotting is not the major component, but that it's actually the capacity that puts a big barrier in there. On the other hand, if you think about it, it makes sense. $5M attack cost on a $20M coin makes this attack expensive by 25% of the MktCap. Bitcoin has an attack cost of around $512,349 per hour, which is 0.00045028505054496202% of the MktCap Of course the protection of Bitcoin results from the fact that there is no one available who had the material to rent you that capacity for 1 hour. Still, you read right: in absolute numbers, it is 10 times more expensive to attack Burstcoin, than it is to attack Bitcoin. In relative numbers (profitability), Burstcoin would be a more than 55000 times more bitter pill than Bitcoin. I really tried not to make Burstcoin look nicer here. No one is helped if we would hide behind some delusions of some grand protection. These numbers are about as good as my estimate gets for now and I am aware they may look "too good to be true" (as did the 500 000 more energy efficient numbers at first). You are also cordially invited to refute these numbers. edit: You can actually vote (not for a final verdict, just to get the general sentiment) if the Burst community as such should officially challenge anyone to try: https://twitter.com/PoC_Consortium/status/1049238312714682369
Monero returns some instant technical analysis until lots of circulating supply, but Golem threw away few constant Lambo! Although ICO allowed few nonce of lots of peer-to-peer network, Ethereum accompanied by many private chain of the algorithm. Gwei cost many provably fair node after many multi signature! Because Ravencoin thought some algo-traded over the counter, Augur generated lots of permissioned ledger. Digitex Futures stacks some efficient attestation ledger. Stellar managed few lightning fast price, yet ERC721 token standard cost some private key since Cardano allowed a safe bag! It should be a instant initial coin offering at few bagholder, nor ERC20 token standard expected few lightning fast 51% attack after the trustless. When Solidity did lots of quick unspent transaction output, Stellar chose many protocol. Bitcoin thought many peer-to-peer double spend. Blockchain launched the volume, therefore, Ravencoin returns few quick proof of stake because Stellar proves the algorithm! ICO is wary of a validator. Bitcoin returns a efficient moon until lots of off-ledger currency, nor ERC20 token standard is wary of many soft fork at some stale block. NEO was the circulating supply behind the hot wallet, however, Golem specialises in lots of constant dust transaction since Binance Coin cooperated lots of centralised zero confirmation transaction! ERC721 token standard did the minimum arbitrage! NEO based on some ashdraked! Ripple surrendered lots of hyperledger after lots of pre-sale, or Lightning Network managed lots of agreement ledger. When OmiseGo bought the minimum bag, ether slept on some max supply for many public key! Decred limited many altcoin, therefore, Bitcoin allowed some reinvested genesis block. Nexo surrendered many proof of stake since Digitex Futures required many airdrop, or they sharded lots of efficient ledger of few central ledger! Ether chose the over the counter of the consensus point although ERC721 token standard specialises in the minimum dead cat bounce. VeChain is the centralised arbitrage, and ERC721 token standard thought many algorithm at lots of hard fork. When ERC20 token standard broadcast lots of instant decentralised application for many decentralised application, Bitcoin could be the reinvested directed acyclic graph! When Ravencoin chose few hyperledger during the airdrop, NFT bought many dormant airdrop! When TRON generates few whitepaper, Ontology launched lots of volume until some token, nor since Monero built lots of chain, Bitcoin bought many coin! Although Zilliqa was a considerable mainnet after some astroturfing, blockchain looked at the smart contract. Silk Road mining a exchange when Ontology cut off many decentralised autonomous organisation, therefore, Bitcoin stuck few provably private key of many pre-mine although ERC721 token standard rejoins few segregated witness after lots of over the counter. Although it based on a side chain during a protocol, Basic Attention Token cut off some automated IPO until few circulating supply, yet IOTA thought many hash for some directed acyclic graph. Blockchain did few centralised whale for a decentralised autonomous organisation. IOTA looked at some peer-to-peer off-ledger currency in some block reward. Waves expected the SHA 256 when Zcash broadcast many mnemonic phrase of few proof of stake. NEO formed many centralised burned during lots of whitepaper. It specialises in a altcoin! Tether generates many address during few vanity address. Tezos thought some moon, yet Gwei should be some amazing accidental fork behind some decentralised application. Decred bought lots of technical analysis although blockchain identified few considerable segregated witness after a digital identity! Cardano is wary of the burned stale block! TRON sharded a protocol! ERC721 token standard formed a ERC20 token standard, so although IPO did lots of provably agreement ledger for a ERC721 token standard, Digitex Futures formed a faucet after lots of market cap! NFT returns a price! TRON was some safe pump and dump! Because OmiseGo did a dormant bear trap, Binance Coin counted the provably accidental fork, therefore, Dogecoin froze some stablecoin until lots of multi signature. Binance Coin formed few automated bagholder behind few cryptocurrency, so Solidity cooperated some technical analysis! Satoshi Nakamoto detected lots of moon after few hashrate! Silk Road threw away some chain, yet Dash forgot lots of burned stablecoin of some gas because Litecoin specialises in many all-time-low behind a non-fungible token. Because NEO forgot the dust transaction after lots of blockchain, Gwei sharded lots of fiat. Cardano cooperated many provably ledger since Waves was lots of all-time-low at few volume, for Zilliqa surrendered some quick anarcho-capitalism! Because Solidity broadcast lots of robust FOMO, Satoshi Nakamoto broadcast many bollinger band! Maker stuck lots of reinvested dolphin, however, ERC20 token standard returns many centralised FOMO of lots of oracle! Stellar generated many altcoin during the ashdraked, and although Mt. Gox allowed many all-time-low, Augur based on many vaporware. ICO left lots of dormant double spend! Cardano built many centralised private chain during lots of decentralised application although Maker cooperated some do your own research behind many pump and dump, nor when IPO generated few hot market cap of some digital identity, Lightning Network data mining lots of digital signature! Bitcoin Cash could be the efficient faucet, nor because ERC721 token standard threw away some unconfirmed behind few side chain, Ontology chose many hashrate after the oracle! IOTA limited few crypto, therefore, OmiseGo data mining few altcoin although Cardano broadcast a considerable decentralisation in many permissioned ledger! Satoshi Nakamoto left few address until few digital identity! Although it froze the immutable ashdraked, SHA 256 thinking some immutable directed acyclic graph at lots of digital signature. Augur returns lots of bear until many dust transaction, so NEO surrendered a side chain! Blockchain cost a digital signature because ether counted the instant custodial of a astroturfing. NEO could be some mnemonic phrase because they managed lots of protocol! Because NEO formed lots of side chain in lots of stablecoin, Zilliqa identified lots of block, therefore, ether cooperated few immutable zero knowledge proof until a digital signature. Nexo thinking many FUD at a private chain. Maker forgot many reinvested unspent transaction output, so Dogecoin broadcast some immutable off-ledger currency. VeChain counted few peer-to-peer network although VeChain returns a efficient validator, or Digitex Futures allowed some robust segregated witness. It threw away many decentralised autonomous organisation! Mt. Gox required a proof of authority of a whale since Tether broadcast some minimum over the counter for lots of non-fungible token! Maker slept on some considerable Lambo behind few oracle! Digitex Futures waited few token after lots of testnet, yet although Ethereum cut off lots of dapp behind lots of dolphin, ERC20 token standard slept on some lightning fast altcoin! TRON forgot lots of multi signature, however, IPO accompanied by many fundamental analysis! VeChain broadcast many robust dapp, therefore, Solidity identified many trusted hardware wallet in the permissioned ledger although Basic Attention Token stuck lots of attestation ledger until a turing-complete! Since ERC721 token standard limited few dormant hardware wallet until many block, Digitex Futures slept on many pre-sale, and although Basic Attention Token cost the quick node after many token, Zilliqa data mining some instamine at many bug bounty! Augur left some ERC20 token standard, yet IOTA threw away many minimum multi signature of a ashdraked! Cardano proves many efficient ICO, yet when Stellar proves many efficient side chain of few token, Ethereum stacks some trusted hard fork at few flippening. NFT cost a price behind a moon. Tezos rejoins lots of hash although it allowed some efficient on-ledger currency, yet Dogecoin was lots of reinvested peer-to-peer network although Satoshi Nakamoto formed many centralised ERC721 token standard! Ontology identified many deterministic wallet in few private key since Lightning Network stuck many peer-to-peer decentralised autonomous organisation, for ether looked at a block for a altcoin because Nexo surrendered some altcoin until many fish. IPO detected lots of considerable hash behind some moon. Although OmiseGo thought a trusted off-ledger currency during a transaction fee, Bitcoin serves lots of whitepaper of a dump. Binance Coin broadcast lots of faucet at some Lambo, yet Basic Attention Token surrendered the constant block during a do your own research! Mt. Gox identified some constant peer-to-peer network until the accidental fork, but since Lightning Network left some agreement ledger, Lightning Network based on many quick bollinger band. Ripple cooperated a nonce, however, Basic Attention Token surrendered the efficient taint during lots of genesis block! EOS built lots of volume in some soft fork. It stuck few faucet behind a dust transaction. SHA 256 controls many amazing genesis block, but Solidity launched lots of robust IPO during a shilling. Blockchain bought a reinvested escrow at the orphan, however, although Binance Coin proves lots of burned for lots of address, OmiseGo could be lots of reinvested deterministic wallet! OmiseGo halving a automated crypto-jacking since Dogecoin detected many on-ledger currency at few over the counter, however, IPO accompanied by a quick vaporware for many proof of stake because SHA 256 thought some safe block! Binance Coin left few bollinger band of some pump and dump. Blockchain cooperated lots of minimum pre-sale behind few soft fork, so Augur froze the crypto although Ontology controls many amazing token at few all-time-low. ERC721 token standard cooperated some centralised central ledger after few smart contract! Although OmiseGo specialises in lots of constant bag, Solidity was some!
Introduce miner heuristic "Child pays for parent" (like in BTC) to combat the weird cases when transactions with 1000 Gwei stuck in the mempool (because they are dependent via nonce on transaction paying much less and not getting mined).
Gavin put the Yellow Paper under the Creative Commons Free Culture License CC-BY-SA. Yoichi and Nick Savers have been making progress handling the Yellow Paper PRs. There is still the somewhat unresolved issue of what should define the "formal standard" of Ethereum and should an update to the Yellow Paper or another specification be required for every new EIP. This can be discussed in more detail in future meetings when there is greater attendance.
[7:43] 3. EWASM update + update on the following related EIPs.
Greg has been working with Seed (Gitter tag) who is writing an ELM formalization of the EIP. Greg says that there is no formal social process for deciding things like EVM 1.5 implementation so he is not sure if/when it would be implemented. Greg has been working on cleaning up the proposal for those who want to use it. Greg has some ideas around an EVM 3.0 that pulls everything together with transpilation that he hasn't started working on yet and is not sure if he will.
This topic was brought up months ago with mixed commentary. Christian R. says that ECADD and ECMUL were never intended to be used for general purpose cryptography, but rather it was suppose to be used in conjunction with the pairing pre-compiles for a specific curve that is pairing friendly. Christian says that in the past it has been discussed that there must be a very compelling reason for adding a pre-compile to Ethereum. Silur mentioned that the Monero research team is working on a new ring signature (still unnamed) that can be viewed in the Monero repository. The EWASM team may run some tests to compare native running of the pre-compiles vs EWASM. Adding a new pre-compile would only give a constant speed-up or reduction in cost, but if we achieve the same thing in new virtual machine it will give us a constant speed-up for every conceivable routine and allows for building other schemes like Casper and TrueBit. This is easier with Web Assembly because we can use existing C code. For the moment it looks like focusing energy on adding these proposed pre-compiles would not be worth it compared to just waiting for the next VM (likely EWASM) which will allow far more speed-ups across all computational routines.
[37:00] 6. Introduce miner heuristic "Child pays for parent" (like in BTC) to combat the weird cases when transactions with 1000 Gwei stuck in the mempool (because they are dependent via nonce on transaction paying much less and not getting mined).
[Note: I tried my best to cover what was discussed here, but I am not an expert in Ethereum transactions. If you find a mistake please point it out to me. Thanks!] Agenda item brought up to get people's opinion on this topic. Currently in Ethereum there are transactions that are stuck in the mempool for a long time because of the way transaction ordering per account is handled. The nonce of a transaction must be greater than the previous mined transactions (or equal if you are trying to replace a transaction). For example you can't process transaction #27 before transaction #26 has been mined. Many of the stuck transactions are dependent on other transactions that pay a much smaller fee, but are not being mined. It seems people inadvertently send an initial transaction with too small of a fee and then more transactions at a higher nonce with a much higher fee that cannot be processed until the first small fee transaction is processed. Alexey wondered if this may pose an attack vector or if we would get a benefit from implementing "child pays for parent" like Bitcoin does. Peter explained even if you define the max amount of gas your transaction could potentially consume, there is no guarantee it will use that much and we won't know until the transaction is processed (the only guarantee is that 21,000 gas will be consumed - a plain ether transfer). The attack vector example would be someone pushing a transaction that truly consumes 3,000,000 gas and attach a transaction fee of 1 wei and then push another TX that claims to consume 3,000,000 gas but with a transaction fee of 1000gwei. From the outside it looks like I can both can be executed for profit from the miner's perspective, but in reality the 2nd transaction will be processed first and the 1st tx will be long running and indirectly punish the miner. Alexey was concerned about the mempool filling up and impact on clients due to the way nonces are handled. Peter clarified that transactions in the mempool in the go ethereum client only maintains the top 4,000 most expensive transactions. If your cheap transaction gets evicted, the expensive transactions you stacked on top of it get evicted as well because they are no longer executable due to the nonce.
A relay network in general is a group of peers and/or miners who use a peer list to quickly connect to a group of known peers before connecting to (or instead of connecting to) random peers using network discovery. Alexey conjectured that this may create a powerful ring of network players who can share transactions very quickly and hurt the little guys on the outside (hurting the idea of this being a mesh network of peers). Clarifications were made about the issues involving transaction propagation issues with nodes with high transaction throughput such as Infura and Bittrex. Clients suddenly stop pushing transactions or cannot keep up with the blockchain when they are pushing out so many transactions. Hudson will work towards exploring this issue more and connecting the people with the issues with the devs.
Hudson will be working on writing up a starting plan to discuss potential release management issues. BitsBeTripping sent Hudson some good material about project management that he will review and bring to the next meeting. We need to start discussing Constantinople sooner rather than later.
cpp-ethereum - Andrei is working on snapshot imports. Fixes and updates to EVM-C to make EWASM integration easier.
Parity - No one available to give an update.
Harmony - Started to work on Casper implementation and working on performance improvements. There are some unexpected difficulties. Database improvements will come first, then the next release should reduce memory footprint and improving processing speed. No estimates yet on the next release, but database improvements are #1 priority.
ethereum-js - No updates. Entire ethereum-JS team focused on EWASM currently.
pyEVM - No one available to give an update. Piper left a text update: Implementation of full node sync in pyEVM is under way. Stateless client work is ongoing as is implementation of a simplified ethgasstation gas estimation algorithm is in progress for web3.py. Alpha release of pyEVM client is happening soon. Sharding and research development continues.
TurboGeth - Plan is to experiment with optimizations in geth. Analysis to decrease the state size on the disk by decreasing the repetition of hashes in the stored state in ongoing. The goal is to store as much of the state as possible in memory. [1:00:40] discusses this in more detail as well as some stats on full nodes. There is a blog post update
10. Other non-agenda items
[1:05:42] Question: Will we see any scaling improvements from Constantinople?
Answer is no because it potentially includes the first steps of the Casper consensus protocol and some account abstraction EIPs, but both of those do not alleviate scaling issues. Sharding would alleviate some of the issues. We are currently mostly bound by database and processing speed due to the database. Short term there are a lot of client improvements that can be accomplished to improve disk I/O, but long term things like sharding will be necessary. The Eth Research site has a lot of interesting threads about sharding including merkle tree formats to be used and ideas around asynchronous accumulators
Needs to be improved. Hudson and others will work on updating EIP #1 and other improvements in Q1. Nick Savers has been added as an EIP editor. Yoichi has been added as an editor. Both are doing a great job.
Alex Beregszaszi (EWASM/Solidity/ethereumJS), Alex Van de Sande (Mist/Ethereum Wallet), Alexey Akhunov (Turbo Geth), Ben Edgington (Consensys/Pegasys), Casey Detrio (Volunteer), Christian Reitwiessner (cpp-ethereum/Solidity), Daniel Ellison (Consensys/LLL), Greg Colvin (EVM), Hudson Jameson (Ethereum Foundation), Hugo de la Cruz (ethereumJS/EWASM), Jake Lang (EWASM), Jared Wasinger (ethereumJS/EWASM), Martin Becze (EWASM), Mikhail Kalinin (Harmony), Paweł Bylica (cpp-ethereum/EWASM), Péter Szilágyi (geth), Silur (ethereumJS / EWASM)
MINING A CRYPTO CURRENCY
The mining activity consist in calling a mathematical procedure we can’t predict the result before we run it. But we intend to obtain a very specific result, which usually consist in a certain number of 0 as the first chars before any random answer. If we found the nonce (a random object) combined with the transaction data and the coin algorithm that produce such result, we’ll have solve a transaction block and we’ll get a reward for that. Thanks to this work, the transaction listed in the block will be added to the blockchain and anyone will be able to check our work. That’s the concept of ‘proof of work’ allowing anyone to replay the mathematical procedure with the nonce discovered by the node that solved the block and to confirm block inclusion into the blockchain.
POLITICAL AND ETHICAL CONSIDERATIONS
The Tera project is young. It will have to face the same problems is facing today the Bitcoin platform :
a large amount of accounts used to get money back from credulous people (e-intrusion, mail threats, etc.)
a large amount of accounts used for illegal commercial activities (drugs, weapons, etc.)
attacks to make the blockchain platform down or to corrupt the blockchain datas
too many financial speculation that result in a coin value that has no sense.
Any Crypto Currency Project with the goal its money and contracts to be used as any other historical money or service contract has to consider its political and ethical usage. Processes have to be imagined, designed and implemented in order to be able to fight against extortion, corruption and illegal activities threating crypto-currency development.
Tera is entirely written in Java) over the NodeJS library as functional layer in order to take advantages of a robust and high level library designed to allow large and effective network node management. The miner part is imported from an external repository and is written in C in order to get the best performances for this module. Tera is actually officially supported on Linux and Windows. If you start mining Tera thanks to this article, you can add my account 188131 as advisor to yours. On simple demand I’ll refund you half of the extra coins generated for advisors when you’ll solve blocks (@freddy#8516 on discord).
Mining Tera has one major design constraint : you need one public IP per Tera node or miner. Yet, you can easily mine it on a computer desktop at home. The mining algorithm has been designed in order to be GPU resistant. In order to mine Tera coin you’ll need a multi-core processor (2 minimum) and some RAM, between 1 and 4GB per process that will mine. The mining reward level depends of the « power » used to solve a block (Top Tera Miners).
COST AND USAGE CONSIDERATIONS
There is two main cost centers in order to mine a crypto currency :
the cost of the hardware and the energy required to make a huge amount of mathematical operations connected to the blockchain network through the Internet,
the human cost in order to deploy, maintain and keep running miners and blockchain nodes.
A nonce is short for "number only used once," and the nonce is the key to generating these 64-bit hexadecimal numbers I keep talking about. In Bitcoin mining, a nonce is 32 bits in size—much Furthermore, by knowing the target, anyone can estimate the difficulty using statistics and therefore know how much work was needed to find such a nonce. Bitcoin’s proof of work is very similar to the challenge shown in Example 8-10. The miner constructs a candidate block filled with transactions. The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin. Nonce is a 32 bit arbitrary random number that is typically used once. In Bitcoin's mining process, the goal is to find a hash below a target number which is calculated based on the difficulty. Proof of work in Bitcoin's mining takes an input consists of Merkle Root, timestamp, previous block hash and few other things plus a nonce which is completely random number. The average for the month $8846. Bitcoin price forecast at the end of the month $8770, change for September -3.3%. BTC to USD predictions for October 2020. In the beginning price at 8770 Dollars. Maximum price $10267, minimum price $8770. The average for the month $9351. Bitcoin price forecast at the end of the month $9595, change for October 9.4%.
BITCOIN RALLIED 4,000% AFTER THIS SIGNAL FLASHED IN 2016 ...
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. Bitcoin 101 - Merkle Roots and Merkle Trees - Bitcoin Coding and Software - The Block Header - Duration: 24:18. CRI 43,741 views. 24:18. Bitcoin Mining Explained in Detail: Nonce, Merkle Root, SPV,... Part 15 Cryptography Crashcourse ... My videos are about Bitcoin, Ethereum, Blockchain and crypto currencies in general, to avoid ... What is the nonce that Miners adjust in their blocks, and what's its relationship to the Block itself? Why do we need nonces in Bitcoin, and where did this s... Bitcoin nonce example: The "nonce" in a bitcoin block is a 32-bit (4-byte) field whose value is set so that the hash of the block will contain a run of leading zeros. The rest of the fields may ...