ASIC for bitcoin mining - Bitcoin Wiki

Traditional Mining vs Green Staking: How UMI Cares for the Planet

Traditional Mining vs Green Staking: How UMI Cares for the Planet

https://preview.redd.it/fcymiab2fed51.jpg?width=1024&format=pjpg&auto=webp&s=a32e38290d6f8048ba7cc982bc2963369642eb7a
Cryptocurrencies are about a major contribution to the transformation of the existing financial system. They can dramatically change the world and be of great benefit to humankind. But looking for benefits mustn't do harm to the environment.
We've taken up this theme for a reason. It is indeed possible to do harm. In fact, harm is already being done. Do you want to know in what way? By traditional mining, which is necessary to maintain the Bitcoin network, and thousands of other Proof-of-Work-based cryptocurrencies.
Negative impact of traditional mining
In order to maintain the Bitcoin network or other PoW-based cryptocurrencies, miners have to solve complex computational math problems — by doing so they verify the authenticity of transactions and add valid ones to the blockchain. This process is dubbed mining and requires extensive computing resources.
The need to compete to solve a mathematical puzzle and receive a reward makes people use more and more powerful equipment. This is how new bitcoins are generated. With the cryptocurrency boom, harmless mining on computers turned into an endless race among miners. Today miners not only buy high-performance computers. Some miners create farms consisting of energy-consuming ASIC devices while others use huge plants to mine bitcoins.

A mining farm consisting of thousands of ASIC devices. Source.
As you know, intensive computing power requires elevated power expenses and leads to air pollution and a waste of natural resources. This poses a serious problem. Nowadays electric power stations, which are thermal power plants (TPP), burn fossil fuel, such as coal or natural gas, to produce electricity.
This process causes CO2 (carbon dioxide) emissions which adversely affect the biosphere — mining contributes to the greenhouse effect which heats the planet up. This consequently causes a global warming effect with its associated impacts on the environment and may pose threats to life on the planet. What is more, every minute we are breathing the same polluted air, thereby being at risk of a bunch of diseases and complications. All these factors shorten life expectancy for us and our children. Air pollution cause a great deal of premature deaths
The more carbon dioxide gets into the environment, the more harm it does. Carbon dioxide is a harmful by-product of industrial activity. The biting irony is that we use natural resources to generate these emissions, and these resources have limits too. Traditional mining significantly exacerbates the global problem and the situation has been deteriorating in recent years.
The effects of carbon footprint are already being felt
There are, undoubtedly, a lot of other factors that cause global environmental degradation, but the impact of mining should never be ignored. Bitcoin mining is estimated to produce as much carbon dioxide as that produced by industries of Estonia, Switzerland, the Czech Republic, Jordan, or Sri Lanka.
The entire bitcoin network is responsible for 22-22.9 million tons of CO2 per year — just think and try to imagine how much it is. Chinese miners represent about half (47%) of emissions. In China energy is cheap as it's produced by coal-fired thermal power plants. Once we add emissions produced by mining other cryptos, the numbers will double!

Powerful mining equipment. Source.
Two years ago, Nature Research journal published an article regarding Bitcoin emissions. It said: "We cannot predict the future of Bitcoin, but projected Bitcoin usage, should it follow the rate of adoption of other broadly adopted technologies, could alone produce enough CO2 emissions to push warming above 2 °C within less than three decades." Two years later, we can see the researchers' concerns had the ground — digital gold keeps to be mined with the same enthusiasm as well as the planet keeps to be polluted. "It [Bitcoin] alone could produce enough emissions to raise global temperatures as soon as 2033, " warn a group of researchers.
As an alternate solution, miners are encouraged to use renewable energy (wind, solar, etc.) — which can make bitcoin mining more environmentally friendly. Unfortunately, renewable energy sources account for just a small share of global energy which makes them impossible to be used widely. Moreover, in the pursuit of profit, miners don't seem particularly eager to get rid of profitable equipment which cost them a fortune.
Nonetheless, the fact that modern cryptocurrencies disapprove environment-damaging mining lets us hope for the early improvement of the situation. UMI is one of these cryptocurrencies.
UMI is a green cryptocurrency based on smart contract
Not all cryptocurrencies use computing power to generate new coins. For example, there are cryptocurrencies based on Proof-of-Stake (PoS) and Proof-of-Authority (PoA) technology. UMI is just like that.
As a substitute for mining and to incite users, UMI uses Staking Smart Contract which allows generating new coins with no energy expenses and powerful equipment. No waste of natural resources. Staking technology is perfectly safe for the planet. This is the latest technological development loop of crypto industry.

https://preview.redd.it/wpgh5cmoged51.jpg?width=1024&format=pjpg&auto=webp&s=761dd09821e16924dfeeb7db8e65b6a66e50c5d5
UMI can be definitely called an environmentally friendly cryptocurrency as it has no negative impact on the environment. Today this is of greatest importance for all of us. UMI staking neither endangers human health nor harms the environment. In other words, we are protecting the planet and all the people that inhabit it. This is something we can be really proud of. Because the environment influences our health, and good health is the most important thing in life.
As a final note, we would like to say that adhering closely to their ideology, the UMI team collaborates only with environmentally conscious partners who are concerned with the protection of the natural world. This was the main reason for choosing the ROY Club as our partner. We are certain this will be productive cooperation which will make this world a better place.
Join in and invite all your friends — together we can create new UMI coins using eco-friendly staking and care for our planet!
Best regards, UMI Team!
submitted by UMITop to u/UMITop [link] [comments]

Conceal Network Anon Defi 450k marketcap - I think this deserves FULL attention.

Some of you will have heard of this project before. For me this is a long term hold and i think it is highly undervalued.
Sometimes OLDER is GOLDER.
The project is Conceal Network.
Anonymous DeFi & Private Communication
Name
Conceal Network
Ticker
CCX
Symbol

Market Cap - Circa 450k
Algorithm
PoW, Cryptonight Conceal
Difficulty
DDA & Zawy's LWMA 3
Privacy
Ring Signatures & One-Time Addresses
Block Time
120s
Transaction Fees
0.0001 CCX
Max Supply
200M CCX to be released over 100 years.
Circulating supply is 8m.
Deposits
Up to 4.16% interest rate per year
Investments
Up to 7.32% interest rate per year
Messenger
Encrypted Messages and Self-Destructive Messages
Premine
6% of the max supply locked over a 5 years interval
Block reward
Starting on 5 CCX and going up to 15 CCX (+0.25CCX/month). Currently 10.75 CCX.
https://github.com/ConcealNetwork
Buy at:
https://tradeogre.com/exchange/BTC-CCX
WHAT IS CONCEAL?
Conceal is a decentralized blockchain bank, with deposits and investments paying interest rates, without involvement of financial institutions, powered by 100% open source code.
Conceal enables untraceable and anonymous messaging, and a secure way to transfer funds. Using a distributed public ledger, the sender and receiver are kept anonymous, a key concern in a post Snowden world. Hackers cannot trace money or messages when the messages are sent across public networks.
Conceal Cryptocurrency (₡CCX) is based on the Cryptonote protocol and runs on a secure peer-to-peer network technology to operate with no central authority. You control the private keys to your funds.
Conceal is accessible by anyone in the world regardless of their geographic location or status. Our blockchain is resistant to any kind of analysis. All your CCX transactions and messages are anonymous.
Conceal avoids many concerns, e.g. technological, environment impact, reputational and security, of Bitcoin, and provides a glimpse of the future.
Conceal is open-source, community driven and truly decentralized.
No one owns Conceal, everyone can take part.
FEATURES Private Conceal uses ring signatures and one-time addresses for truly anonymous payments
Untraceable Conceal's transactions can't be linked between the sender and the recipient
Decentralized Conceal follows Satoshi Nakamoto's original vision of decentralized, trustless cryptocurrency, i.e. a secure digital cash operated by a network of users. Transactions are confirmed by distributed consensus, and then recorded on the blockchain immutably. Third parties do not need to be trusted to keep your money safe.
Fungible Conceal is truly fungible, thanks to built-in privacy features. Just like cash, all coins are equal, changeable. It is extremely unlikely that a coin will ever be blacklisted by any party due to its association in previous transactions.
Scalable Future scalability initiatives will include a modular sidechain.
Protected Proof Of Work PoW hash function is designed for egalitarian CPU & GPU mining and ASIC Resistance
Adaptive Limits Conceal intelligently adjusts its parameters based on the historical data
Encrypted Messages Secure your confidentiality with an encrypted P2P network, secure communications and encrypted self-destructive messages
Decentralized Banking Deposits get up to 4.2% interest rate per year and Investments up to 7.2% p.a.
They have a wiki that acts like an evolving whitepaper.
All of your questions should be answered here as it is updated frequently.
https://conceal.network/wiki/doku.php?id=about#conceal_emission
Very soon they will publish an anniversary article and reveal some big news. Could it relate to the below....
https://twitter.com/ConcealNetwork/status/1261723775801982976?s=19
"Deposits on Cloud & Mobile is almost here. You will be able to deposit $CCX on Cloud and Mobile soon and earn interest up to 6%!
Q3 2020 - Stay tuned."
Also please read this exclusive recent interview with the daily chain.
https://thedailychain.com/hashr8-privacy-coin-reviews-conceal/
submitted by therealfacemelter to CryptoMoonShots [link] [comments]

ProgPoW resources

Informational

May 2, 2018 EIPs/eip-1057.md at master · ethereum/EIPs · GitHub
May 3, 2018 ProgPOW/README.md at master · ifdefelse/ProgPOW · GitHub
May 3, 2018 EIP-ProgPoW: a Programmatic Proof-of-Work - EIPs - Fellowship of Ethereum Magicians
May 29, 2018 The Problem with Proof of Work - K. L. Minehan - Medium
October 25, 2018 Understanding ProgPoW - IfDefElse - Medium
Nov 17, 2018 progpow-wiki/ProgPoW.md at master · MariusVanDerWijden/progpow-wiki · GitHub
December 10, 2018 ProgPoW - A Programmatic Proof of Work by Kristy-Leigh Minehan (Devcon4) - YouTube
January 10, 2019 ProgPoW FAQ - IfDefElse - Medium
January 14, 2019 What GPU miners may not know about ProgPoW - Andrea Lanfranchi - Medium
January 17, 2019 ProgPoW: Progress Update #1 - IfDefElse - Medium
February 14, 2019 Council of Denver - HackMD
February 17, 2019 The Miners Benchmark ProgPoW - Theodor Ghannam - Medium
February 21, 2019 Ethereum ProgPoW Explained - Crypto Mining Blog
March 18, 2019 13 Questions about Ethereum’s Movement to ProgPow by Jon Stevens - Medium
March 20, 2019 Skeptical about #ProgPoW? I am too! - Bryant Eisenbach - Medium
March 27, 2019 Comprehensive ProgPoW Benchmark by Theodor Ghannam - Medium
March 28, 2019 My stance on Progpow by Martin Holst Swende
March 30, 2019 The Cost of ASIC Design - IfDefElse - Medium
April 12, 2019 Ethereum ProgPoW Update - Crypto Mining Blog
September 23, 2019 In Defense of ProgPow : ethereum
February 4, 2020 Antminer E3 Stops Mining Ethereum Classic, Just Over a Month Remaining for Ethereum - Crypto Mining Blog

Ethereum Magicians

August 2, 2108 Final Request From the GPU Mining Community - EIPs - Fellowship of Ethereum Magicians
August 26, 2018 EIP-1355: Ethash 1a - EIPs - Fellowship of Ethereum Magicians
September 3, 2108 What has to be done to get ProgPoW on Ethereum - EIPs - Fellowship of Ethereum Magicians
January 1, 2019 Guidelines for ProgPow Hardware Developers - Primordial Soup - Fellowship of Ethereum Magicians
February 2, 2019 On the progpow audit - Action Item - Fellowship of Ethereum Magicians
March 3, 2019 My technical take on ProgPow’s weakest link - EIPs - Fellowship of Ethereum Magicians
March 4, 2019 Governance concerns after listening to ~all ProgPow discussions on Core Dev calls - Process Improvement - Fellowship of Ethereum Magicians
March 29, 2019 Motion to NOT include ProgPow without audit - EIPs - Fellowship of Ethereum Magicians
March 30, 2109 ProgPoW - A Compilation of Reference Material - Core EIPs - Fellowship of Ethereum Magicians
May 23, 2019 ProgPoW Audit Delay Issue - EIPs - Fellowship of Ethereum Magicians
July 8, 2019 Ensuring ETH 1.x’s Success Without Disenfranchising The Community - Ethereum 1.x Ring - Fellowship of Ethereum Magicians
August 8, 2019 EIP-centric forking - Process Improvement - Fellowship of Ethereum Magicians

YouTube

October 8, 2018 Cardano Rust Project | Petro Public Sale | ProgPow | WSJ Attacks Shapeshift (October 2nd, 2018) - YouTube
October 23 2018 Ethereum Mining News | FPGA’s Mining | ProgPoW LIKELY | Profitability | Hard Fork Delayed 2019 - YouTube
December 13, 2018 Why ProgPoW is BAD for Ethereum - YouTube
December 19, 2018 Bitcoin Rallies Towards 4k - Why? Ethereum Launches ProgPoW GPU Mining Testnet | New HD Minable Coin - YouTube
January 4, 2019 Ethereum moving to PROGPOW! What’s it mean for Miners? - YouTube
January 4, 2019 Ethereum ProgPoW CONFIRMED! - YouTube
January 5, 2019 Mining on the ProgPoW Gangnam Ethereum Testnet! - YouTube
January 6, 2019 6 x Asus RX 570 4GB ProgPoW Gangnam Ethereum Testnet TEST! - YouTube
January 7, 2019 ProgPOW Explained - A Brave New World for Ethereum Miners? - YouTube
January 20, 2019 CES2019 - North American Bitcoin Conference - GRIN / BEAM - PROGPOW and more! - YouTube
January 23, 2019 Ethereum to ZERO? Eth Chain Split. ProgPow & ETC 51 % Attack. GPU vs ASIC Miners. - YouTube
January 29, 2019 Nick Johnson: Future of the Ethereum Name Service and thoughts on ProgPOW - YouTube
February 19, 2019 Ethereum Hard Fork Soon? ProgPoW Voting? - YouTube
February 20, 2019 ProgPoW Merged Into Parity Ethereum | ETHNews Brief - YouTube
February 25, 2019 How does R7 370, R9 380,380x,390 and more perform on PROGPOW and other Cryptocurrencies in 2019? - YouTube
March 7, 2019 PROGPOW Explained in under 4 min. & why it matters to GPU Miners - YouTube
March 19, 2019 What is BBT doing with PROGPOW, Why all of the testing? - YouTube
March 25, 2019 eVGA RTX 2080Ti FTW3 11GB DDR6 Cryptocurrency Performance Test PROGPOW ETH RVN BEAM GRIN29 GRIN31 - YouTube
March 29, 2019 Ethereum & ProgPoW… What Is Going On? - YouTube
May 2, 2019 Ethereum ProgPow Audit Has Been Funded & Approved - YouTube
July 5, 2019 Mining News! Monero RandomX | Ethereum ProgPoW 2019 Update | Grin Embraces ASIC miners | Zel Zelhash - YouTube
July 24, 2019 Ethereum ProgPoW AUDIT Is Finally Getting Started… - YouTube
September 13, 2019 Ethereum ProgPoW Algorithm Audits Finalized - YouTube
September 24, 2019 An Argument Against ProgPoW a Day - Part 1 - YouTube
October 4, 2019 82 - Defending ProgPoW with Kristy-Leigh Minehan - YouTube
October 10, 2019 #36 - Kristy-Leigh of ProgPow discusses the EIP, Satoshi, Code Contributions, and Crypto Mining 2020 - YouTube
November 24, 2019 Ethereum Classic REJECTS ProgPoW… - YouTube
December 16, 2019 Ethereum ProgPoW Implementation Is STILL Coming Right? - YouTube
December 26, 2019 Panel: Least Authority’s ProgPoW Audit (Devcon5) - YouTube

Podcasts

April 11, 2019 https://podcasts.apple.com/us/podcast/blockchannel/id1307284590?i=1000434669782
September 10, 2019 https://podcasts.apple.com/us/podcast/ethhub-weekly-recap-78-ethboston-compound-drama-eth2/id1443920565?i=1000449269536
September 25, 2019 https://podcasts.apple.com/us/podcast/ethhub-weekly-recap-80-progpow-discussion-doj-extortion/id1443920565?i=1000451214746
October 4, 2019 https://podcasts.apple.com/us/podcast/82-defending-progpow-with-kristy-leigh-minehan/id1436674724?i=1000452312677

Official Updates

May 18, 2019 Dev Call #38 - May 18, 2018
August 24, 2018 Dev Call #45 - August 24, 2018
September 28, 2018 Dev Call #47 - September 28, 2018
January 4, 2019 Dev Call #52 - January 4, 2019
January 18, 2019 Dev Call#53 - January 18, 2019
February 1, 2019 Dev Call #54 - February 1, 2019
February 11, 2019 Ethereum Cat Herders Update#1 : EthereumCatHerders
March 15, 2019 Dev Call #57 - March 15, 2019
May 24, 2019 Dev Call #62 - May 24, 2019
July 18, 2019 Dev Call #65 - July 18, 2019
September 10, 2019 ProgPoW Audits Released - Ethereum Cat Herders - Medium
September 6, 2019 Dev Call #70 - September 6, 2019
November 1, 2019 Dev Call #74 - November 1, 2019
December 13, 2019 Dev Call #77 - December 13, 2019
January 24, 2019 Dev Call #79 - January 24, 2020
February 21, 2020 Dev Call#81 - February 21, 2020

News Articles

January 4, 2019 Ethereum Core Devs to Move Forward With ASIC-Resistant PoW Algorithm
January 5, 2019 Ethereum (ETH) Developers Plan to Implement ASIC-Resistant Proof of Work Mining Algorithm
January 7, 2019 BREAKING: Ethereum Classic (ETC) Hit With 51 Percent Attack A Week Before Ethereum (ETH) Constantinople Hard Fork – Crypto.IQ | Bitcoin and Investment News from Inside Experts You Can Trust
January 8, 2019 ETH Dev Suggests Moving to ‘ASIC-Friendly Algorithm’ After ProgPoW Decision
January 8, 2019 Ethereum Miner Linzhi Calls Out Project Coders for Proposed ASIC Ban - CoinDesk
January 8, 2019 Ethereum (ETH) Core Developers Propose an ASIC Resistant Upgrade - Ethereum World News
January 9, 2019 Ethereum Classic (ETC) 51% attack proof that shitcoins have no hope of succeeding? | CaptainAltcoin
January 9, 2019 What’s ProgPoW? Meet the hot new debate in the Ethereum community | finder.com.au
January 18, 2019 Ethereum Core Devs Constantinople Meeting to Be Held on Jan 18
February 1, 2019 Ethereum Core Dev Call #54: Waiting for ProgPoW - The Block
February 3, 2019 Will Ethereum Adopt ‘ProgPoW,’ the ASIC-Resistant Mining Algorithm? | CryptoSlate
February 4, 2019 Is Ethereum Going to be Adopting ASIC-Resistant ‘ProgPow’ as a Mining Algorithm?
February 15, 2019 Ethereum Core Dev Call #55: ProgPoW audits and Vitalik’s Phase 2 updates - The Block
February 15, 2019 Recompensas por minería en Ethereum llegan a mínimo histórico | CriptoNoticias
February 28, 2019 Coinhive dice adiós a la minería web por caída del mercado | CriptoNoticias
March 6, 2019 Ethereum Core Dev Meeting : ProgPow Implementation Receives More Than 50 Percent Votes from Miners - CryptoNewsZ
March 7, 2019 The ASIC Resistant Mining Campaign from Ethereum Miners Is Just Getting Started
March 12, 2019 Ethereum’s ProgPoW Proposal: An Expensive Game of Whack-a-Mole - CoinDesk
March 12, 2019 Ethereum’s ProgPoW Mining Change to Be Considered for Istanbul Upgrade - CoinDesk
March 14, 2019 As ProgPoW Aimed at Stopping ASIC Mining Gets Supporting Votes, New Conspiracies and Debates Appear
March 15, 2019 Ethereum’s ProgPow Mining Change Approved Again, But Timeline Unclear - CoinDesk
March 17, 2019 Ethereum Devs Once Again Approve ASIC-Resistant Algorithm ProgPoW
March 18, 2019 Ethereum (ETH) to Be ASIC-Resistant, No Date Set However - Cryptovest
March 27, 2019 Aumentan desacuerdos en Ethereum por decisión de avanzar con ProgPoW | CriptoNoticias
March 29, 2019 Bitmain Co-founder, Jihan Wu: ASIC Miners Makes a Blockchain Network More Decentralized - Coindoo
April 8, 2019 A Fight Over Specialized Chips Threatens an Ethereum Split | WIRED
April 26, 2019 Funding Approved for Audit of Ethereum’s ProgPoW Mining Proposal - CoinDesk
April 28, 2019 Ethereum Core Devs: Funding for ProgPoW 3rd-Party Audit Approved
April 20, 2019 Ethereum’s Recent Decline in Hashrate ‘Not Surprising’: Cyber Threat Expert Explains | CryptoGlobe
June 14, 2019 Proposed Ethereum Istanbul Hard Fork Combed With A Fine Tooth at Cat Herders Meeting
July 13, 2019 ¿Qué es ProgPoW? La propuesta de algoritmo contra mineros ASIC en Ethereum | CriptoNoticias
August 17, 2019 Ethereum: ProgPow will be activated on the mainnet next year as a part of Istanbul 2 - AMBCrypto
August 18, 2019 Ethereum’s ProgPoW To Be Released The First Quarter Of 2020 | UseTheBitcoin
August 19, 2019 Ethereum to Switch to ProgPoW Mining Algorithm in Upcoming Istanbul Hard Fork
September 8, 2019 Ethereum: ProgPoW high level design goals are reasonable towards achieving its intended economic effect - AMBCrypto
September 11, 2019 Chinese Firm Linzhi Set To Mass Produce Ethereum and ETC ASIC Miners As Tests Go Live
September 18, 2019 Ethereum ProgPOW author uninvited from ETC Summit due to Craig Wright association | CryptoSlate
September 19, 2019 Ethereum reveals launch dates for testing Istanbul - Decrypt
September 19, 2019 Hashing Out: ProgPoW Debate Kicks Up in Ethereum Community Again
September 19, 2019 ETC Summit Invitees List Has No Space for Kristy Minehan
September 22, 2019 Ethereum ProgPoW upgrade causing chain split more likely to be from the user side instead of the miner side - AMBCrypto
September 23, 2019 ProgPow advocate uninvited to Ethereum Classic Summit over links to Craig Wright
September 24, 2019 ProgPoW backer steps down from controversial role - Decrypt
September 25, 2019 ProgPOW author steps down as Core Scientific CTO, vows to implement algorithm on Ethereum | CryptoSlate
September 25, 2019 Ethereum ProgPoW proponent Kristy-Leigh Minehan steps down citing perceived conflict of interest - AMBCrypto
September 25, 2019 Core Scientific CTO Steps Down To Push Through Ethereum ProgPOW
September 25, 2019 ProgPoW author Kristy-Leigh Minehan resigns as CTO of Core Scientific | Cryptopolitan
September 26, 2019 New Ethereum ASIC dominates GPU mining performance | CryptoSlate
September 26, 2019 New Ethereum ASIC Fuels Discord Among Ethereum Community
September 28, 2019 The (alleged) plot against the Ethereum network - Decrypt
October 9, 2019 ProgPoW, the Algorithm Dividing the Ethereum Community: a GPU Manufacturer Ploy? - Ethereum World News
October 9, 2019 Ethereum Hard Fork Is Coming — Here’s What You Need to Know About ‘Istanbul’ – BeInCrypto October 27, 2019 Ethereum ProgPoW’s raison d’etre: To be or not to be - AMBCrypto
November 4, 2019 Aragon Opposes Change to Ethereum’s Mining Algorithm Before 2.0 Version
November 7, 2019 Aragon community against Ethereum ProgPOW
November 8, 2019 Ethereum Istanbul Hard Fork Release Date Confirmed By Core Developer
November 16, 2019 Ethereum ProgPoW audit contributors on Gitcoin to be refunded in full - AMBCrypto
November 26, 2019 Ethereum’s Buterin: PoW algorithms offering medium-level ASIC resistance can be created - AMBCrypto
December 17, 2019 Ethereum devs move ProgPoW into ‘Eligible for Inclusion’ list - AMBCrypto
January 1, 2020 [Is the ASIC Resistance dream closer to reality, despite claims of it being a myth? - AMBCrypto](https://eng.ambcrypto.com/is-the-asic-resistance-dream-closer-to-reality-despite-claims-of-it-being-a-myth/
submitted by greerso to ethereum [link] [comments]

PoW or PoS: The Difference Between Mined and Non-Mined Crypto

PoW or PoS: The Difference Between Mined and Non-Mined Crypto
The whole crypto world discusses how Ethereum will switch from Proof of Work to Proof of Stake now. This change can significantly affect the cryptocurrency market. What are the positive and negative sides of PoW and PoS?
Cryptocurrencies can be divided into two types: those that can be mined (Bitcoin, Litecoin, Monero) and pre-mined ones (Ripple, Stellar, Cardano, EOS, NEO).

What is the big difference?

Although they differ in the method of generation, the basis of both types of crypto is the same: verification. Every transaction processed by the network must be verified by someone to ensure that virtual money has not been spent twice. Here we are talking about the difference in the verification process. Transaction groups are combined into a block; after verification, the block joins other previously confirmed blocks, and create a chain of transactions, or blockchain.

PoW: Mined Crypto

Mining is a process in which individuals, groups, or companies solve complex mathematical equations to verify transaction blocks using powerful computers. These math problems are part of the encryption process that protects transactions from cybercriminals and third party access.
The first who solves the problem and signs a block of transactions receives a reward. The miner, who confirmed the block of transactions e.g. in the Bitcoin network, receives a reward in BTC.

Disadvantages of Mined Crypto

  • Mining can be very expensive due to the large amounts of electricity consumed. In mined crypto with less capitalization, competition is usually lower than in BTC.
  • BTC mining requires special ASIC chips, that are combined into huge farms. Electricity is one of the main expenses for these projects. That is why China, where electricity is relatively cheap, has become a home to four of the five largest Bitcoin mining companies in the world.
  • Mining farms have to spend significant money funds on new equipment, which becomes out of date very fast.
  • Large projects need additional cooling, as servers and graphics cards heat up to high temperatures during operations.
  • The Proof-of-Work model is potentially vulnerable to a 51% attack (when a group of people with 51% of the computing power gains control of the network and its participants). For popular cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), and Monero (XMR) this is not a problem due to their large capitalization. However, minor cryptocurrencies with long block processing times and low daily volumes are risking a lot.

PoS: Non-Mined Crypto

At the other end of the spectrum are pre-mined cryptocurrencies such as Ripple (XRP), Stellar, Cardano, EOS, and NEO.
In the PoS model, super-powered computers are not needed, and participants do not compete for the right to sign the next block. Thus, the costs of this approach are significantly lower. Transaction verification is carried out by cryptocurrency owners. The more cryptocurrencies you have, the longer you own it, the higher the probability that you will be selected to check the transaction block.
Certain mechanisms are built into the system that prevents the dominance of large cryptocurrency holders over the verification process. There are many random ways to select owners who get the right to sign a transaction block. This ensures that small holders have a chance to participate in the process.

Disadvantages of Non-Mined Crypto

Despite the fact that the costs of the Proof-of-Stake method are lower, PoS has its drawbacks.
  • Such cryptocurrencies are not threatened by an attack of 51%, however, another trouble replaces it — a person who posses 51% of all tokens in circulation can gain control of the network and its participants. Of course, in the case of cryptocurrencies with high capitalization, the possibility of this scenario is low, but small partners may suffer from this vulnerability.
  • The Proof-of-Stake model also gives major owners additional votes in determining the future development of the network. Most NEO tokens) belong to several founders, for instance. This helps increase transaction speed and reduces consensus-building time, but also makes cryptocurrency too centralized. In other words, in the PoS model, large players gain significant power, which is theoretically impossible with the PoW model.

Which method is better?

Both methods have their pros and cons. Nevertheless, sooner or later, some of the largest mined currencies (e.g. BTC) will reach their token limit. At this point, they will have to switch to Proof-of-Stake. Since it significantly reduces power consumption and doesn't require powerful computers, gradually all crypto including BTC will switch to a non-mined model just like Ether did.

Keep up with the news of the crypto world at CoinJoy.io
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Subscribe to our YouTube channel.
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For any inquiries mail us at [[email protected]](mailto:[email protected]).
https://preview.redd.it/2ticyj57a6051.png?width=3300&format=png&auto=webp&s=2ed429625a45588ef371862af3bc1f71a23c34a3
submitted by CoinjoyAssistant to ethtrader [link] [comments]

CelesOS Research Institute丨DPoW consensus mechanism-combustible mining and voting

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:
  1. 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 
  1. 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:
nonce = random ()ret = max() while(ret > target) { if(hash(nonce+account + block_id)< target) { wood = nonce; break; } nonce++; } 
  1. Voting
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
  • Miner account
  • Block id
  • Block
  • 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.
  1. Block generation
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.
  1. 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.
  2. 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”.

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submitted by CelesOS to u/CelesOS [link] [comments]

Full overview of Eth 2.0 & 1.x roadmaps from Messari

Full section on Messari's Ethereum trends for 2020 here

ETH 2.0 Research/Governance/Roadmap at a glance

If history is any guide, we’re not going to see ETH 2.0 until 2022 at the earliest, even if the earliest phases of “Serenity” begin getting pushed in mid-2020. ETH 2.0’s rollout breaks down into seven (7!!!) phases and brings with it the promise of staking, sharding, a new virtual machine, and more dancing badgers.
(One of our analysts, Wilson Withiam, put together an excellent overview of both the ETH 2.0 and ETH 1.x roadmaps for this report. They are critical to track and understand at a high-level given how much Ethereum’s performance will affect other competitive projects and most of the DeFi and Web 3 infrastructure. So these next two sections are longer and more technical.)
Here’s what you need to know about the current game plan for crypto’s largest platform.
Phase 0 marks the launch of the “beacon chain”, which will serve as the backbone for a new blockchain. The beacon chain will manage network validators (large early stakers like ConsenSys) and ultimately assign validators to individual shards (slicing the new blockchain into smaller chunks is a key, difficult, controversial scaling decision that’s been made). The new chain will support Ethereum’s new proof-of-stake consensus mechanism, and offer inflation rewards with new ETH2 for those that pony up and lock 32 ETH1 tokens into an irreversible contract. That one way bridge into the new system is also contentious, but it means ETH1 supply will start getting “effectively burned” once token holder begin claiming beacon chain validator slots. Initial reports claimed Jan. 3 as a realistic launch date (lol). It will be amazing to see this launched by end of June.
Phase 1 will introduce 64 individual shard chains (reduced from 1,024!!!) to the network, with the option to increase the total down the road as the design gets tested. The Ethereum elite see sharding as the “key to future scalability” as shards can parallelize transaction processing, something that could improve network performance and reduce individual validator’s costs (good for decentralization). It comes with big risk: this is still theoretical. No network the size of Ethereum has successfully sharded its blockchain. In Phase 1, shard chains will only contain simple data sets (no smart contracts or transaction executions) to test the system’s structure. As with Phase 0, the beacon chain will continue to run in parallel with ETH 1.x throughout the phase. Don’t expect Phase 1 anytime before 2021.
Phase 2 marks the full launch of the ETH2 chain, allowing for on-chain contract execution and introducing the new eWASM virtual machine (dubbed EVM 2.0). At this point, existing dApps can start migrating their contracts from ETH 1.x to a specific shard (one shard per contract) in the new network. Storage rent, charging contract owners for storing data on the network (more on this below), is in the cards as well, which would require mass contract rewrites. Even though Phase 2 intends to replace the original Ethereum blockchain entirely, ETH 1.x may still live on as a shard within ETH2. (How confused are you by now? See why bitcoin will still dominate the macro narrative for a while?) A late 2021 release for Phase 2 is optimistic. Before the end of 2022 would be a win.
The final four phases are less defined, and without an attached timeline:
Phase 3 implements state-minimized clients (because stateless clients are just too much). Phase 4 allows for cross-shard transactions. Phase 5 improves network security and the availability of data proofs. Phase 6 introduces meta-shards, as in “shards within shards within shards,” for near-infinite scaling. If you’re scratching your head and are sadistic enough to read more, the Sharding Wiki page does note, “this may be difficult.”
Scaling and compilation efficiencies aside, the most notable change in Ethereum’s metamorphosis is the transition from proof-of-work to proof-of-stake. PoW is the more battle tested security model for blockchain networks, while PoS may prove to be more efficient but with new and less obvious attack vectors. For the more technical, we recommend reading Bison Trails’ Viktor Bunin on the subject of PoS security threats.
Past research has also shown PoS requires an extra layer of “trust” vs. PoW, to help nodes sync to the network. Most models share specific characteristics to address this trust issue, such as allowing for a dynamic set of validators (rotate your security), promoting token holder participation in consensus, and assessing steep penalties (slashing) for any network participant that violates the protocol guidelines. ETH 2.0 will function similarly, but may be able to learn from other PoS networks (and their R&D) as well as those come live and see real world issues. As Vitalik points out, recent research in PoS resulted in “great theoretical progress,” But...
Listen, we're talking about practice. Not a game. Not a game. Not a game. We're talking about practice. Not a game….Practice? We're talking about practice, man? We're talking about practice. We're talking about practice. We ain't talking about the game. We're talking about practice, man.
Vitalik was eight when this happened, so the clip might help and prove metaphoric.

2 ETH 1.x Research/Governance/Roadmap at a glance.

Ok, one more. Bear with us. Let’s reiterate, ETH 2.0 is a brand new blockchain. It’s going to be a chaotic and high-risk transition. In the meantime, the existing network needs to run existing applications (particularly financial settlements for DeFi transactions). More critical upgrades are needed in the current system.
To that end, ETH 1.x devs have three goals to boost performance and reduce blockchain bloat: (1) introduce client optimizations that increase transaction capacity; (2) cap disk space requirements and prune old, memory-sucking data (so running a node is less expensive and more decentralized); and (3) upgrade the EVM to eWASM, a newer open standard for code compilers that simplifies debugging, and is also used by all the newer smart contract platforms. ETH 1.x developers have decided to split the major tasks amongst four working groups:

Core developers intend to introduce most of these implementations through a series of hard forks, the latest of which activated just over a week ago (Istanbul, Dec. 7). However, Istanbul’s second phase, tentatively scheduled for Q2 next year, has Ethereans at each other’s throats. The controversy boils down to the fork’s inclusion of ProgPoW, an ASIC-resistant hashing algorithm designed to replace Ethereum’s current algo. ProgPoW aims to even the playing field for GPU miners and ward off the entrance of potential ASIC competitors. The miners like that. But many miners and investors see ProgPoW as a threat to their investments. For miners, the change would shift the power dynamic away from mining farms and render expensive, specialized mining hardware useless. Ethereum (and ERC-20) investors intent on securing their assets might balk because ASIC miners typically prop up hash rates (overall chain security) and their costs “naturally create a price-floor for ASK prices of miners’ sell-orders.”
This saga is far from over. The infighting will likely continue leading up to ProgPoW’s activation date mid-next year, and presents the strongest potential for a network split since “The DAO” fork that spawned Ethereum Classic. The looming transition to ETH 2.0 (and proof-of-stake) will likely deter investor pushback, because it’s a short-term battle in a war the miners are ultimately going to lose, anyway.
Unless the roadmap changes back to supporting a hybrid PoW/PoS system, of course, but... Oh my god, I’m just kidding. This section is mercifully over.
submitted by CryptigoVespucci to ethereum [link] [comments]

Mining and Dogecoin - Some FAQs

Hey shibes,
I see a lot of posts about mining lately and questions about the core wallet and how to mine with it, so here are some facts!
Feel free to add information to that thread or correct me if I did any mistake.

You downloaded the core wallet

Great! After a decade it probably synced and now you are wondering how to get coins? Bad news: You don't get coins by running your wallet, even running it as a full node. Check what a full node is here.
Maybe you thought so, because you saw a very old screenshot of a wallet, like this (Version 1.2). This version had a "Dig" tab where you can enter your mining configuration. The current version doesn't have this anymore, probably because it doesn't make sense anymore.

You downloaded a GPU/CPU miner

Nice! You did it, even your antivirus system probably went postal and you started covering all your webcams... But here is the bad news again: Since people are using ASIC miners, you just can't compete with your CPU hardware anymore. Even with your more advanced GPU you will have a hard time. The hashrate is too high for a desktop PC to compete with them. The blocks should be mined every 1 minute (or so) and that's causing the difficulty to go up - and we are out... So definitly check what is your hashrate while you are mining, you would need about 1.5 MH/s to make 1 Doge in 24 hours!

Mining Doge

Let us start with a quote:
"Dogecoin Core 1.8 introduces AuxPoW from block 371,337. AuxPoW is a technology which enables miners to submit work done while mining other coins, as work on the Dogecoin block chain."
- langerhans
What does this mean? You could waste your hashrate only on the Dogecoin chain, probably find never a block, but when, you only receive about 10.000 Dogecoins, currently worth about $25. Or you could apply your hashrate to LTC and Doge (and probably even more) at the same time. Your change of solving the block (finding the nonce) is your hashrate divided by the hashrat in sum - and this is about the same for Doge and LTC. This means you will always want to submit your work to all chains available!

Mining solo versus pool

So let's face it - mining solo won't get you anywhere, so let's mine on a pool! If you have a really bad Hashrate, please consider that: Often you need about $1 or $2 worth of crypto to receive a payout (without fees). This means, you have to get there. With 100 MH/s on prohashing, it takes about 6 days, running 24/7 to get to that threshold. Now you can do the math... 1 MH/s = 1000 KH/s, if you are below 1 MH/s, you probably won't have fun.

Buying an ASIC

You found an old BTC USB-miner with 24 GH/s (1 GH/s = 1000 MH/s) for $80 bucks - next stop lambo!? Sorry, bad news again, this hashrate is for SHA-256! If you want to mine LTC/Doge you will need a miner using scrypt with quite lower numbers on the hashrate per second, so don't fall for that. Often when you have a big miner (= also loud), you get more Hashrate per $ spent on the miner, but most will still run on a operational loss, because the electricity is too expensive and the miners will be outdated soon again. Leading me to my next point...

Making profit

You won't make money running your miner. Just do the math: What if you would have bougth a miner 1 year ago? Substract costs for electricity and then compare to: What if you just have bought coins. In most cases you would have a greater profit by just buying coins, maybe even with a "stable" coin like Doges.

Cloud Mining

Okay, this was a lot of text and you are still on the hook? Maybe you are desperated enough to invest in some cloud mining contract... But this isn't a good idea either, because most of such contracts are scams based on a ponzi scheme. You often can spot them easy, because they guarantee way to high profits, or they fake payouts that never happened, etc.
Just a thought: If someone in a subway says to you: Give me $1 and lets meet in one year, right here and I give you $54,211,841, you wouldn't trust him and if some mining contract says they will give you 5% a day it is basically the same.
Also rember the merged mining part. Nobody would offer you to mine Doges, they would offer you to buy a hashrate for scrypt that will apply on multiple chains.

Alternative coins

Maybe try to mine a coin where you don't have ASICs yet, like Monero and exchange them to Doge. If somebody already tried this - feel free to add your thoughts!

Folding at Home (Doge)

Some people say folding at home (FAH - https://www.dogecoinfah.com/) still the best. I just installed the tool and it says I would make 69.852 points a day, running on medium power what equates to 8 Doges. It is easy, it was fun, but it isn't much.
Thanks for reading
_nformant
submitted by _nformant to dogecoin [link] [comments]

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.
  • Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority. BTC can be transferred electronically in a secure, verifiable, and immutable way.
  • Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all of the nodes in the Bitcoin network. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin’s whitepaper was published pseudonymously in 2008 by an individual, or a group, with the pseudonym “Satoshi Nakamoto”, whose underlying identity has still not been verified.
  • The Bitcoin protocol uses an SHA-256d-based Proof-of-Work (PoW) algorithm to reach network consensus. Its network has a target block time of 10 minutes and a maximum supply of 21 million tokens, with a decaying token emission rate. To prevent fluctuation of the block time, the network’s block difficulty is re-adjusted through an algorithm based on the past 2016 block times.
  • With a block size limit capped at 1 megabyte, the Bitcoin Protocol has supported both the Lightning Network, a second-layer infrastructure for payment channels, and Segregated Witness, a soft-fork to increase the number of transactions on a block, as solutions to network scalability.

https://preview.redd.it/s2gmpmeze3151.png?width=256&format=png&auto=webp&s=9759910dd3c4a15b83f55b827d1899fb2fdd3de1

1. What is Bitcoin (BTC)?

  • Bitcoin is a peer-to-peer cryptocurrency that aims to function as a means of exchange and is independent of any central authority. Bitcoins are transferred electronically in a secure, verifiable, and immutable way.
  • Network validators, whom are often referred to as miners, participate in the SHA-256d-based Proof-of-Work consensus mechanism to determine the next global state of the blockchain.
  • The Bitcoin protocol has a target block time of 10 minutes, and a maximum supply of 21 million tokens. The only way new bitcoins can be produced is when a block producer generates a new valid block.
  • The protocol has a token emission rate that halves every 210,000 blocks, or approximately every 4 years.
  • Unlike public blockchain infrastructures supporting the development of decentralized applications (Ethereum), the Bitcoin protocol is primarily used only for payments, and has only very limited support for smart contract-like functionalities (Bitcoin “Script” is mostly used to create certain conditions before bitcoins are used to be spent).

2. Bitcoin’s core features

For a more beginner’s introduction to Bitcoin, please visit Binance Academy’s guide to Bitcoin.

Unspent Transaction Output (UTXO) model

A UTXO transaction works like cash payment between two parties: Alice gives money to Bob and receives change (i.e., unspent amount). In comparison, blockchains like Ethereum rely on the account model.
https://preview.redd.it/t1j6anf8f3151.png?width=1601&format=png&auto=webp&s=33bd141d8f2136a6f32739c8cdc7aae2e04cbc47

Nakamoto consensus

In the Bitcoin network, anyone can join the network and become a bookkeeping service provider i.e., a validator. All validators are allowed in the race to become the block producer for the next block, yet only the first to complete a computationally heavy task will win. This feature is called Proof of Work (PoW).
The probability of any single validator to finish the task first is equal to the percentage of the total network computation power, or hash power, the validator has. For instance, a validator with 5% of the total network computation power will have a 5% chance of completing the task first, and therefore becoming the next block producer.
Since anyone can join the race, competition is prone to increase. In the early days, Bitcoin mining was mostly done by personal computer CPUs.
As of today, Bitcoin validators, or miners, have opted for dedicated and more powerful devices such as machines based on Application-Specific Integrated Circuit (“ASIC”).
Proof of Work secures the network as block producers must have spent resources external to the network (i.e., money to pay electricity), and can provide proof to other participants that they did so.
With various miners competing for block rewards, it becomes difficult for one single malicious party to gain network majority (defined as more than 51% of the network’s hash power in the Nakamoto consensus mechanism). The ability to rearrange transactions via 51% attacks indicates another feature of the Nakamoto consensus: the finality of transactions is only probabilistic.
Once a block is produced, it is then propagated by the block producer to all other validators to check on the validity of all transactions in that block. The block producer will receive rewards in the network’s native currency (i.e., bitcoin) as all validators approve the block and update their ledgers.

The blockchain

Block production

The Bitcoin protocol utilizes the Merkle tree data structure in order to organize hashes of numerous individual transactions into each block. This concept is named after Ralph Merkle, who patented it in 1979.
With the use of a Merkle tree, though each block might contain thousands of transactions, it will have the ability to combine all of their hashes and condense them into one, allowing efficient and secure verification of this group of transactions. This single hash called is a Merkle root, which is stored in the Block Header of a block. The Block Header also stores other meta information of a block, such as a hash of the previous Block Header, which enables blocks to be associated in a chain-like structure (hence the name “blockchain”).
An illustration of block production in the Bitcoin Protocol is demonstrated below.

https://preview.redd.it/m6texxicf3151.png?width=1591&format=png&auto=webp&s=f4253304912ed8370948b9c524e08fef28f1c78d

Block time and mining difficulty

Block time is the period required to create the next block in a network. As mentioned above, the node who solves the computationally intensive task will be allowed to produce the next block. Therefore, block time is directly correlated to the amount of time it takes for a node to find a solution to the task. The Bitcoin protocol sets a target block time of 10 minutes, and attempts to achieve this by introducing a variable named mining difficulty.
Mining difficulty refers to how difficult it is for the node to solve the computationally intensive task. If the network sets a high difficulty for the task, while miners have low computational power, which is often referred to as “hashrate”, it would statistically take longer for the nodes to get an answer for the task. If the difficulty is low, but miners have rather strong computational power, statistically, some nodes will be able to solve the task quickly.
Therefore, the 10 minute target block time is achieved by constantly and automatically adjusting the mining difficulty according to how much computational power there is amongst the nodes. The average block time of the network is evaluated after a certain number of blocks, and if it is greater than the expected block time, the difficulty level will decrease; if it is less than the expected block time, the difficulty level will increase.

What are orphan blocks?

In a PoW blockchain network, if the block time is too low, it would increase the likelihood of nodes producingorphan blocks, for which they would receive no reward. Orphan blocks are produced by nodes who solved the task but did not broadcast their results to the whole network the quickest due to network latency.
It takes time for a message to travel through a network, and it is entirely possible for 2 nodes to complete the task and start to broadcast their results to the network at roughly the same time, while one’s messages are received by all other nodes earlier as the node has low latency.
Imagine there is a network latency of 1 minute and a target block time of 2 minutes. A node could solve the task in around 1 minute but his message would take 1 minute to reach the rest of the nodes that are still working on the solution. While his message travels through the network, all the work done by all other nodes during that 1 minute, even if these nodes also complete the task, would go to waste. In this case, 50% of the computational power contributed to the network is wasted.
The percentage of wasted computational power would proportionally decrease if the mining difficulty were higher, as it would statistically take longer for miners to complete the task. In other words, if the mining difficulty, and therefore targeted block time is low, miners with powerful and often centralized mining facilities would get a higher chance of becoming the block producer, while the participation of weaker miners would become in vain. This introduces possible centralization and weakens the overall security of the network.
However, given a limited amount of transactions that can be stored in a block, making the block time too longwould decrease the number of transactions the network can process per second, negatively affecting network scalability.

3. Bitcoin’s additional features

Segregated Witness (SegWit)

Segregated Witness, often abbreviated as SegWit, is a protocol upgrade proposal that went live in August 2017.
SegWit separates witness signatures from transaction-related data. Witness signatures in legacy Bitcoin blocks often take more than 50% of the block size. By removing witness signatures from the transaction block, this protocol upgrade effectively increases the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second. As a result, SegWit increases the scalability of Nakamoto consensus-based blockchain networks like Bitcoin and Litecoin.
SegWit also makes transactions cheaper. Since transaction fees are derived from how much data is being processed by the block producer, the more transactions that can be stored in a 1MB block, the cheaper individual transactions become.
https://preview.redd.it/depya70mf3151.png?width=1601&format=png&auto=webp&s=a6499aa2131fbf347f8ffd812930b2f7d66be48e
The legacy Bitcoin block has a block size limit of 1 megabyte, and any change on the block size would require a network hard-fork. On August 1st 2017, the first hard-fork occurred, leading to the creation of Bitcoin Cash (“BCH”), which introduced an 8 megabyte block size limit.
Conversely, Segregated Witness was a soft-fork: it never changed the transaction block size limit of the network. Instead, it added an extended block with an upper limit of 3 megabytes, which contains solely witness signatures, to the 1 megabyte block that contains only transaction data. This new block type can be processed even by nodes that have not completed the SegWit protocol upgrade.
Furthermore, the separation of witness signatures from transaction data solves the malleability issue with the original Bitcoin protocol. Without Segregated Witness, these signatures could be altered before the block is validated by miners. Indeed, alterations can be done in such a way that if the system does a mathematical check, the signature would still be valid. However, since the values in the signature are changed, the two signatures would create vastly different hash values.
For instance, if a witness signature states “6,” it has a mathematical value of 6, and would create a hash value of 12345. However, if the witness signature were changed to “06”, it would maintain a mathematical value of 6 while creating a (faulty) hash value of 67890.
Since the mathematical values are the same, the altered signature remains a valid signature. This would create a bookkeeping issue, as transactions in Nakamoto consensus-based blockchain networks are documented with these hash values, or transaction IDs. Effectively, one can alter a transaction ID to a new one, and the new ID can still be valid.
This can create many issues, as illustrated in the below example:
  1. Alice sends Bob 1 BTC, and Bob sends Merchant Carol this 1 BTC for some goods.
  2. Bob sends Carols this 1 BTC, while the transaction from Alice to Bob is not yet validated. Carol sees this incoming transaction of 1 BTC to him, and immediately ships goods to B.
  3. At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.
  4. Now Carol will not receive his 1 BTC, as the network looks for transaction 12345 to ensure that Bob’s wallet balance is valid.
  5. As this particular transaction ID changed from 12345 to 67890, the transaction from Bob to Carol will fail, and Bob will get his goods while still holding his BTC.
With the Segregated Witness upgrade, such instances can not happen again. This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature won’t affect the transaction ID.
Since the transaction malleability issue is fixed, Segregated Witness also enables the proper functioning of second-layer scalability solutions on the Bitcoin protocol, such as the Lightning Network.

Lightning Network

Lightning Network is a second-layer micropayment solution for scalability.
Specifically, Lightning Network aims to enable near-instant and low-cost payments between merchants and customers that wish to use bitcoins.
Lightning Network was conceptualized in a whitepaper by Joseph Poon and Thaddeus Dryja in 2015. Since then, it has been implemented by multiple companies. The most prominent of them include Blockstream, Lightning Labs, and ACINQ.
A list of curated resources relevant to Lightning Network can be found here.
In the Lightning Network, if a customer wishes to transact with a merchant, both of them need to open a payment channel, which operates off the Bitcoin blockchain (i.e., off-chain vs. on-chain). None of the transaction details from this payment channel are recorded on the blockchain, and only when the channel is closed will the end result of both party’s wallet balances be updated to the blockchain. The blockchain only serves as a settlement layer for Lightning transactions.
Since all transactions done via the payment channel are conducted independently of the Nakamoto consensus, both parties involved in transactions do not need to wait for network confirmation on transactions. Instead, transacting parties would pay transaction fees to Bitcoin miners only when they decide to close the channel.
https://preview.redd.it/cy56icarf3151.png?width=1601&format=png&auto=webp&s=b239a63c6a87ec6cc1b18ce2cbd0355f8831c3a8
One limitation to the Lightning Network is that it requires a person to be online to receive transactions attributing towards him. Another limitation in user experience could be that one needs to lock up some funds every time he wishes to open a payment channel, and is only able to use that fund within the channel.
However, this does not mean he needs to create new channels every time he wishes to transact with a different person on the Lightning Network. If Alice wants to send money to Carol, but they do not have a payment channel open, they can ask Bob, who has payment channels open to both Alice and Carol, to help make that transaction. Alice will be able to send funds to Bob, and Bob to Carol. Hence, the number of “payment hubs” (i.e., Bob in the previous example) correlates with both the convenience and the usability of the Lightning Network for real-world applications.

Schnorr Signature upgrade proposal

Elliptic Curve Digital Signature Algorithm (“ECDSA”) signatures are used to sign transactions on the Bitcoin blockchain.
https://preview.redd.it/hjeqe4l7g3151.png?width=1601&format=png&auto=webp&s=8014fb08fe62ac4d91645499bc0c7e1c04c5d7c4
However, many developers now advocate for replacing ECDSA with Schnorr Signature. Once Schnorr Signatures are implemented, multiple parties can collaborate in producing a signature that is valid for the sum of their public keys.
This would primarily be beneficial for network scalability. When multiple addresses were to conduct transactions to a single address, each transaction would require their own signature. With Schnorr Signature, all these signatures would be combined into one. As a result, the network would be able to store more transactions in a single block.
https://preview.redd.it/axg3wayag3151.png?width=1601&format=png&auto=webp&s=93d958fa6b0e623caa82ca71fe457b4daa88c71e
The reduced size in signatures implies a reduced cost on transaction fees. The group of senders can split the transaction fees for that one group signature, instead of paying for one personal signature individually.
Schnorr Signature also improves network privacy and token fungibility. A third-party observer will not be able to detect if a user is sending a multi-signature transaction, since the signature will be in the same format as a single-signature transaction.

4. Economics and supply distribution

The Bitcoin protocol utilizes the Nakamoto consensus, and nodes validate blocks via Proof-of-Work mining. The bitcoin token was not pre-mined, and has a maximum supply of 21 million. The initial reward for a block was 50 BTC per block. Block mining rewards halve every 210,000 blocks. Since the average time for block production on the blockchain is 10 minutes, it implies that the block reward halving events will approximately take place every 4 years.
As of May 12th 2020, the block mining rewards are 6.25 BTC per block. Transaction fees also represent a minor revenue stream for miners.
submitted by D-platform to u/D-platform [link] [comments]

Why does DASH claim to innovate without giving credit to features it copies from Bitcoin and other developers?

A few of the many high profile examples: Privatesend (Bitcoin CoinJoin): https://en.bitcoin.it/wiki/CoinJoin
Checkpoints from Peercoin (rebranded to chainlocks by DASH): https://www.peercoin.net/peercoin-paper.pdf
The most innovative feature of DASH that I can find was X11 (chaining a bunch of PoW algorithms together with a FAILED goal of resisting ASICs). Contrast this with Monero which deployed RandomX, keeping mining decentralized and kicking Bitmain to the curb: https://www.monerooutreach.org/stories/RandomX.php
submitted by groundfloorinvestor to DashUncensored [link] [comments]

XMR.RU-report (OCTOBER)

I would like to remind you that we are a non-commercial community and that we do not advertise on our forum, Telegram Chat / Channel, etc. We have been asked to place ads more than once, but we always refuse. The official position of our community - if the service accepts Monero as a payment, then it has the right to create a topic on the forum and keep it up to date, as well as to be present in our chat room, in order to provide support to its customers if necessary.
If you like our work, donations are welcome (wallets at the end of this post).
---
Sup-sup Monteros!
Here is report from XMR.RU-team!
The following articles were translated into Russian and posted not only on XMR.RU but also on Bitcointalk, Forum.Bits.Media, different crypto-chats etc.
If for some reason you would like to read the original article in English, then open the article you are interested in and at the end of each article you will find a link to the source:
Several articles will be published the other day, they are currently under editing and are not available for review.
---
Don't forget to check YouTube: Monero Russian Community
I think it is not difficult to subscribe to the channel and put a couple of likes, and this will help to spread Monero among Russian-speaking users in the future.
---
Who we are?
Group of Monero enthusiasts from Ukraine and Russia.
What are we doing?
We spread the word about Monero for the whole CIS.
You can support us.
XMR: 42CxJrG1Q8HT9XiXJ1Cim4Sz18rM95UucEBeZ3x6YuLQUwTn6UWo9ozeA7jv13v8H1FvQn9dgw1Gw2VMUqdvVN1T9izzGEt
BTC: 1FeetSJ7LFZeC328FqPqYTfUY4LEesZ5ku
---
Here you can see for what all donations are spent on. ;-)
Cheers!
submitted by TheFuzzStone to Monero [link] [comments]

Waltonchain adds GNU General Public License details to code - BUT does the code contain this?

Waltonchain adds GNU General Public License details to code - BUT does the code contain this?
Dear Crypto community,
Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.
Following this, the team have now updated the code to show the original copyright:
Image from Github
Source: https://github.com/WaltonChain/WaltonChain_Gwtc_Src/blob/mastep2p/rlpx.go?utm_source=share&utm_medium=ios_app
Github: https://github.com/WaltonChain?tab=repositories

I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

What we've been told as a community is that the Waltonchain source code has changes that allows for:
  • Security - DASH X11 - Most cryptographic algorithms used in cryptocurrencies use only one hash function for calculation. There are 11 of them in X11, which provides a higher degree of protection against hackers and scams. Waltonchain has customised the DASH X11 hashing algorithm to fit their purpose.
  • More secure than Bitcoin. The Bitcoin algorithm is SHA-256 is based on a previous secure hash algorithm family of standards, namely SHA-2, the hash functions within the X11 algorithm all successfully made it into the second-round in search for a new, more secure standard — SHA-3. Keccak, the function which won the competition and is therefore the new standard on which SHA-3 is based on, can at the very least be considered more secure that SHA-256.
  • Efficiency — Waltonchain have produced ASICs with the equivalent hashing power of 200GPUs (32–40kW) whilst using only 135W, thus helping the parent chain become decentralised
  • PoS aspect works in tandem with PoW, in that it adds a reduced difficulty based on number of coins held and time between blocks. Effectively the longer coins are held and the longer the time between blocks, the lower the difficulty for mining blocks. This again enhances the power efficiency of the network in its entirety.
  • Fast cross-chain searching via Proof of Labour —PoL enables hash values or indices from sub-chains (child chains) to be synced with the parent chain in a ‘cross chain index mechanism’ to enable fast searches for data via the parent chain.
  • Scalibility — Unlimited scalibility due to child chains; each CC is an independent blockchain (or DAG) using its own consensus mechanism (PoS, PoA, PoW, PoeT, etc) and can store data within itself. The parent chain by nature therefore cannot become bloated.
  • Atomic Swaps — PoL by nature ensures a record of every inter-chain transaction is held, and allows the function of atomic swaps between currencies.

Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

EDIT 1st June: A user on the Waltonchain sub has done an analysis which by the looks of it, disproves the initial assessment by many of the 'blockchain experts' in cc that have said the open source code is simply a copy and paste . https://www.reddit.com/waltonchain/comments/bveqea/changeset_goethereum_v171_to_gwtc_v110/
It is interesting to see just how much people love to hate Waltonchain that they spread misinformation either intentionally, or unintentionally, and that it gets the most attention out of any announcement.

For reference:
Block explorer: www.Waltonchain.pro (all wallets, mining wallet, documentation etc is available via that link)
submitted by Yayowam to CryptoCurrency [link] [comments]

It was created 8 years ago. And nothing has been able to stop it yet. Banning it didn't work. Shutting down its exchanges didn't work. Buying its devs didn't work. Censoring its forums didn't work. And it just keeps growing and getting stronger.

I don't know whether we will call it Bitcoin Cash, or maybe we'll go back to calling it just Bitcoin once BCore is dead. What I know is it's not a name, or an implementation, or an authority. Bitcoin is an idea, and it seems like nothing can stop it. Why? Because it's in everyone's self-interest to support it and protect it. It's like its success is hard-wired into the idea itself. It was programmed to win.
submitted by WiseAsshole to btc [link] [comments]

Canaan's new ASIC is a Pipe Dream, not an Ethereum Threat

So, yesterday Kristy-Leigh Minehan posted on Twitter that a company named Canaan announced an ASIC that is capable of 0.68W/Mhs
That's 2200Mh/s running at 1500w
https://twitter.com/OhGodAGirl/status/1176938519866089473
Here is a list of how it compares to other ASICs and GPUs.
https://blog.miningstore.com/blog/ethereum-mining-hardware-for-2019
She used this tweet to promote the need for ProgPoW
Today, I am attempting to explain that Canaan is not a threat to centralize Ethereum mining with their ASICs.
First, I cannot find any information regarding Canaan announcing an Ethereum ASIC other than Kristy's twitter post
There is only one article written about it and it uses Kristy's twitter post as their source.
https://cryptoslate.com/ethereum-asic-dominates-gpu-performance/
Nothing on Canaan's website talks about this miner
Nor does Canaan's twitter account mention anything like this.
If we look closely at Kristy's twitter picture, you can see the Canaan Ethereum miner will be called the V10.
I cannot find any info anywhere on this miner.
You would think that if Canaan is unveiling a new product, they would be talking about it more to spread awareness and raise hype, but they aren't.
I mean, they made a big to-do when they announced the A10 bitcoin miner in March, so why are they posting nothing about the V10 ethereum miner.
https://twitter.com/canaanio/status/1111513725733724160
And a google search will show many many more articles written about the bitcoin A10 after its announcement.
I'm not saying the announcement isn't real, just that I find it odd that the company isn't talking about it themselves.
Canaan did respond to a tweet from “cryptoState”, the writer's of the article based on Kristy's tweet.
Canaan replied that the v10 is not an official worldwide Canaan product.
https://twitter.com/canaanio/status/1177088253431668736
and further in the cryptostate article, Canaan says “It is a little hard to explain, but those are not products designed and built by Canaan engineering. They are products sold by the domestic sales team and are not an official worldwide Canaan product,”
I do not know what that means exactly. If it means it's not an official Canaan product, or that it won't be available worldwide, or what.
But this is the first clue to me that it isn't anything to worry about.
If it's not an official Canaan product, then it doesn't seem like it will have support from Canaan to bring it to market.
It won't be marketed by Canaan, use it's supply chain, it's business resources and contacts, use it's support system, or be built by Canaan.
Next, yes 0.68W/Mhs is more efficient than GPUs, but that isn't all that matters when miners choose the devices to use.
What matters also is how much the machine costs.
If the V10 is price too high, then it's not something to worry about.
Without a price, Kristy can't claim in good faith that the V10 is something Ethereum needs to worry about and a reason ProgPoW needs to be adopted.
I'm not sure how to price the thing, myself, but at current ETH prices and hashrate, it would make $2200 in 4 months.
I think generally ASIC mfgs price their machines to break even in 3-4 months.
So that would be the machine will cost around $2200.
BUT, that's only if ONE machine is running on the network.
The more machines on the network, the less profitable they are.
If we look at the Avalon A1066, it's november batch costs $1390, and has a break-even time of 464 months at current bitcoin prices.
So it seems to me the Canaan V10 will be quite a bit more expensive than $2200.
Which doesn't make it feasible for that many people to buy.
Next, there was no product on display at the New Era Mining Summit, where this product was announced.
Only some graphics of numbers they claim.
Nor can I find any technical documentation talking about how they plan to achieve the advertised hashrate
I tweeted Kristy telling her that this seems, at best, like just an idea to me, to help them raise money and that it takes more than an idea to bring an ASIC to market.
https://twitter.com/AltcoinXP/status/1177290387205054464
Kristy then blocked me on Twitter and told me to stop spreading misinformation.
https://imgur.com/lWEAWbd
So, now let's talk about the article I replied to her with, claiming that Canaan doesn't have enough funding for this.
Granted, I said this without doing as much research as I could've, but let's see if what I said holds true.
Here is the article I linked in the tweet.
https://www.coindesk.com/avalon-bitcoin-miner-maker-canaan-is-plotting-another-ipo-attempt
Notice the date this article was published. March 27th 2019.
Notice that Avalon announce their Bitcoin A10 miner the next day.
https://twitter.com/canaanio/status/1111513725733724160
Perhaps to help attract funding from new investors, which the Coindesk article says they haven't been able to bring on any new investors in a long time.
I'm not going to cite the whole article here, read it for yourself, but it generally explains that Canaan is unable to attract new funding.
Also, Xianfu Lui, a 17.2% shareholder in Canaan left the company in February, so I doubt he invested money into Canaan.
https://www.coindesk.com/co-founder-quits-avalon-mining-chip-maker-canaan-over-differences
Here are some more Coindesk articles speaking about Canaan trying to raise money.
https://www.coindesk.com/huobi-plans-backdoor-ipo-attempt-in-hong-kong-document-suggests
“After mining giant Bitmain’s IPO attempt in Hong Kong was allowed to expire, apparently due to reluctance from HKEX, it’s reportedly now planning to list in the U.S. Another miner manufacturer, Canaan Creative, is also reported to have already confidentially filed in the U.S. after a failed HKEX attempt. “
https://www.coindesk.com/bitcoin-miner-maker-canaan-confidentially-files-for-ipo-in-us-report
https://www.coindesk.com/bitcoin-miner-canaans-ipo-likely-delayed-after-hong-kong-filing-expires
“The Reuters report, citing anonymous sources, further said the HKEX and financial regulators in Hong Kong have raised questions over Canaan’s business model, given the volatile nature of cryptocurrencies. As such, the news agency said the IPO might not go ahead this year, since there have been no updates from a listing hearing with the HKEX. “
So seems to be Caanan is having a hard time finding funding for their endeavors. Pretty much every single article on Coindesk about them is about them trying to get funding and failing at it.
So do they have enough money to bring the V10 to market AND bring enough V10s to be a problem?
They would need to produce 45,000 units to get 50% of the Ethereum mining power.
Current network is 197TH/s https://bitinfocharts.com/ethereum/
Currently Bitmain is estimated to have produced less than 20,000 units since the Antminer E3's announcement in April 2018.
https://www.reddit.com/ethereum/comments/d8fuvj/an_argument_against_progpow_a_day_part_1/f1axc2c/
https://www.coindesk.com/bitmain-confirms-release-first-ever-ethereum-asic-miners
Bitmain being a much larger company than Canaan, it seems unlikely they will produce 45,000 units quick enough to become a problem.
Anyway,
For those of you that don't know, Canaan manages the Avalon bitcoin ASICs and have done so since 2014. Canaan is fulling in charge of Avalon.
https://en.bitcoin.it/wiki/Avalon
Maybe I should've said that sooner, I don't know. I'm just typing as I come up with stuff.
But we can look at Avalon's bitcoin past to determine what the future ethereum miner supply might look like. Keep in mind though, this was also during a time when they were well-funded.
I'm not sure what their bank account looks like now, but they have been in the red every year since their existance, so I have to assume they have less money now than when they were releasing bitcoin miners
Avalon announce the A10 March 2019, and started shipping pre-orders in October 2019.
If the V10 follows suit, we won't see a V10 in the hands of miners until April 2020
https://www.coindesk.com/demand-for-new-bitcoin-miners-is-again-outstripping-supply
Ok, I'm done. That's all I put together and why I don't believe the Canaan ASIC that was announced is a concern warranting the immediate adoption of ProgPoW
Thanks for reading.
submitted by Anthony-AltcoinXP to ethereum [link] [comments]

What is "weak subjectivity"?

In POS coins there is a slashing penalty for people who vote in both chains. But this can be avoided by voting in a very deep reorg and withdrawing your deposit on the main chain so that if the attack fails you cannot be punished 'slashed' .
https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
To solve this problem, we introduce a "revert limit" - a rule that nodes must simply refuse to revert further back in time than the deposit length (i.e. in our example, four months), and we additionally require nodes to log on at least once every deposit length to have a secure view of the chain. Note that this rule is different from every other consensus rule in the protocol, in that it means that nodes may come to different conclusions depending on when they saw certain messages.
ABC reorg protection is a revert limit and results in 'weak subjectivity' this is the security compromise Ethereum has to make to get rid of mining and POW and thus gain the environmental and decentralization benefits of POS ( no asics & validators in different regions ).
Why are people ok with this hybrid-pow consensus system, it makes a compromise on security while having all the negatives of POW - that is wasting resources and the centralization in hardware and mining pools?
It seems like the hybrid-pow model bitcoin ABC implemented offers the worst of both worlds, BCH should either switch to POS or move to POW completely.
submitted by Spartan3123 to btc [link] [comments]

CODE FUD: Resolved.

Dear Waltonchain community,
Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.
Following this, the team have now updated the code to show the original copyright:
Source: https://github.com/WaltonChain/WaltonChain_Gwtc_Src/blob/mastep2p/rlpx.go?utm_source=share&utm_medium=ios_app
Github: https://github.com/WaltonChain?tab=repositories

I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

What we've been told as a community is that the Waltonchain source code has changes that allows for:

Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

For reference:
Block explorer: www.Waltonchain.pro (all wallets, mining wallet, documentation etc is available via that link)
submitted by Yayowam to waltonchain [link] [comments]

Video card prices and cryptocurrency mining v.2: electric boogaloo

Six months ago, I put together a post on the impact of cryptocurrency mining on the prices of video cards. The hope was that supply would increase, demand would drop, and prices would return to normal. Unfortunately, prices are on the rise again.
I've therefore updated and rewritten the original post to reflect a situation that affects a large number of the builders on /buildapc.
So, you may have noticed a resurgence in discussion about the current hike in the price of video cards. Or you may have found the price of certain cards (especially, but not limited to, AMD's RX 570/580 and Nvidia's 1060/1070) higher than you expected.
You know, I did. What's going on?
In effect, cryptocurrency mining (the solving of complex mathematical problems that underlies the transactions for a given currency) continues to drive up demand for video cards, both new and used, as people invest in consumer hardware to get involved. Consequently, the availability of cards is low, and prices are high.
With major retailer stock running low, it's hard to get an idea of the inflation at play. As a very general idea, here's a basic rundown of mid-tier recommended retail prices compared to current reseller prices on Amazon:
Card RRP (USD) Amazon
RX 570 4GB ~$179 ~$400+
RX 580 8GB ~$229 ~$500+
GTX 1060 6GB ~$249 ~$400+
GTX 1070 8GB ~$379 ~$600+
GTX 1070 Ti 8GB ~$450 ~$750+
This again? Why now?
Cryptocurrency prices are spiralling, and people are looking to mine whatever they can. Moreover, the nature of new cryptocurrencies encourages the purchase of consumer hardware:
Bitcoin remains the largest of these currencies, but increasing concern about transaction speed and cost has recently led to a rise in alternatives. The most prominent of these is Ethereum.
Ethereum is designed to be resistant to ASICs - chips designed specifically for cryptocurrency mining - which means that potential miners must stick to consumer video cards.
What happens next?
Anyone who can confidently predict the long term fortunes of the cryptocurrency market probably isn't browsing /buildapc threads on the prices of computer hardware.
Still, eventually™ it is intended that Ethereum will switch from a proof of work (i.e. mining) to a proof of stake (based on possession of currency) system. Long story short, this will mean no more video card demand from Ethereum miners.
Unfortunately, there is no fixed date for when the switch is due to occur. Not to mention that this says nothing of other coins that users may try to mine.
What can I do in the meantime?
Further reading (updated):
PC Gamer - Hang onto your graphics cards, as cryptocurrency mining spikes GPUs prices
Tweaktown - Mid/high-end GPU prices to increase because of mining & PUBG
With this in mind, please refrain from creating new discussion threads about the effect of mining on the price of video cards, and include any specific questions as part of build help threads or in the daily simple questions post. Thanks!
submitted by CustardFilled to buildapc [link] [comments]

You can call you a Bitcoiner if you know/can explain these terms...

03/Jan/2009
10 Minutes
10,000 BTC Pizza
2016 Blocks
21 Million
210,000 Blocks
51% Attack
Address
Altcoin
Antonopoulos
Asic
Asic Boost
Base58
Batching
Bech32
Bit
Bitcoin Cash
Bitcoin Improvement Proposal (BIP)
Bitcoin SV
Bitmain
Block
Block height
Block reward
Blockchain
Blockexplorer
Bloom Filter
Brain Wallet
Buidl
Change Address
Child pays for parent (CPFP)
Coinbase (not the exchange)
CoinJoin
Coinmarketcap (CMC)
Colored Coin
Confirmation
Consensus
Custodial Wallet
Craig Wright
David Kleinman
Difficulty
Difficulty adjustment
Difficulty Target
Dogecoin
Dorian Nakamoto
Double spend
Elliptic Curve Digital Signature Algorithm (ECDSA)
Ethereum
Faketoshi
Fork
Full Node
Gavin Andresen
Genesis Block
Getting goxed
Halving
Hard Fork
Hardware Wallet
Hash
Hashing
Hierarchical Deterministic (HD) Wallet
Hodl
Hot Wallet
Initial Coin Offering (ICO)
Initial Exchange Offering (IEO)
Ledger
Light Node
Lightning
Litecoin
Locktime
Mainnet
Malleability
Master Private Key
Master Public Key
Master Seed
mBTC
Mempool
Merkle Tree
Mining
Mining Farm
Mining Pool
Mixing
MtGox
Multisig
Nonce
Not your keys,...
Opcode
Orphan block
P2PKH
P2SH
Paper Wallet
Peers
Pieter Wuille
Premining
Private key
Proof of Stake (PoS)
Proof of Work (PoW)
Pruning
Public key
Pump'n'Dump
Replace by Fee (RBF)
Ripemd160
Roger Ver
sat
Satoshi Nakamoto
Schnorr Signatures
Script
Segregated Witness (Segwit)
Sha256
Shitcoin
Sidechain
Signature
Signing
Simplified Payment Verification (SPV)
Smart Contract
Soft Fork
Stratum
Syncing
Testnet
Transaction
Transaction Fees
TransactionId (Txid)
Trezor
User Activated Soft Fork (UASF)
Utxo
Wallet Import Format (WIF)
Watch-Only Address
Whitepaper
List obviously not complete. Suggestions appreciated.
Refs:
https://bitcoin.org/en/developer-glossary https://en.bitcoin.it/wiki/Main_Page https://www.youtube.com/channel/UCgo7FCCPuylVk4luP3JAgVw https://www.youtube.com/useaantonop
submitted by PolaT1x to Bitcoin [link] [comments]

The reason why contentious forks occur in crypto, and how Monero can thoughtfully navigate the current ASIC-friendly PoW discussion

Hello Monero world,
I've been participating in this awesome project since mid 2016 (forgive the new account; the old one was was deleted). Like many of you, I love Monero because I feel it best represents the heart and soul of what cryptocurrency is all about. It's basically Bitcoin 2.0, better at what Bitcoin was originally intended to be. The community is really smart and mission-driven and not sold-out at all. While other coins seem to have acquiesced to the siren song of profit, XMR seems to remain laser focused, all these years later, on its original mission to provide people around the world with a truly private way to digitally transact. In an age where the world's largest corporations are using satellites to catalog our every move, selling our most intimate details to the highest bidder, Monero is a refreshing thing indeed.
As the discussion around an ASIC-friendly PoW begins to heat up, I wanted to offer some values for how best to proceed. This post is my humble attempt to stop something akin to the Bitcoin/Cash split from coming to Monero. Not only could this harm the bubble of trust and unity that we have cultivated over the years, but it also could fracture the privacy of the entire project. Unlike Bitcoin, ring signature chain splits are a MUCH bigger deal because they have the potential to weaken the privacy of the entire project. So it is really important we wade into the PoW deep end with a lot of patience and respect for one another.
The biggest strength of open source projects is also a point of its greatest weakness. Few of us have ever met each other. I've seen pictures from a few Meetups, which are great, all these Moneroans hefting steins of beer with smiles on their faces. A few of us have met at conferences. But as a generalization we have no ability to personally know the people involved in this ASIC discussion. As a result, the organic trust in this community is tenuous at best. What I mean is, when two friends in the real world have a difference of opinion, they can look each other in the face and have a productive disagreement, because they can see in the face of the other person whether or not they are dialoging in good faith, especially if they have years of positive trust already built with each other.
Monero, on the other hand, makes most of its important decisions via bald discussion on Github and Reddit. So usernames like Fluffypony and Moneromooo have to share equal space with Sockpuppet123 and Sockpuppet456. The average reader is then tasked with remembering which usernames have been around a long time and which have not. And when some trusted participants in Monero have somewhat complicated usernames like SChernykh, this task becomes hard work indeed.
Let me provide an example of this. On the more ASIC-antagonistic side of the discussion is longtime community member Gingeropolous, a good guy I have personally interacted with many times, a guy who loves Monero. He made a point in the Github discussion that we should stick to the Cryponight whitepaper's value of democratized mining, one CPU one vote, and by embracing ASICs we are compromising a central element of Monero's identity. Fluffypony, another good guy that I have personally interacted with many times, and who also loves Monero, responded to Gingeropolous that Monero is first about privacy, and the whitepaper is not meant to be blindly followed, especially if doing so undermines the future of the coin.
Now at this point in the discussion you have a healthy moment of disagreement. Two people who love this coin and who have been involved with it for many years have a differing opinion, and I would argue that both of them have a valid point. In a normal real-life situation like this, the years of trust and subjective experience of the other person talking could sort of undergird the conversation as a whole and make a positive outcome more likely. So what happened next?
Unfortunately, talking on Github is nothing like talking in the real world, and the next person to weigh in on the topic of the whitepaper was a user I've not interacted with before, and his comment was telling Fluffypony to not throw out the whitepaper as a whole, which Fluffypony was obviously not suggesting, and so he had to clarify his original point, which he tried to do, but in my opinion that turn of the discussion was not very fruitful.
Every newcomer to this project has the freedom on Github or Reddit to strawman people (to strawman someone is to take a minor point they made and expand it into a huge point that is easy to shoot down). This sort of occurrence, painting people into corners to achieve goals, has the likelihood to become more commonplace if this debate begins to heat up and become overly emotional.
I am writing this post to suggest a few values to the Monero community to help them avoid splitting the chain, the community, and weakening the privacy of all parties involved.
Five values to facilitate the ASIC-friendly PoW discussion:
  1. Keep ALL conversation productive. Laser focus on this value! Resist the siren call to label each other, to demean and disdain to win arguments. Resist using swear words. Do not critique people's character but focus on the IDEAS being discussed.
  2. On that note, put rationality before emotion. Embrace a Moneroesque existentialism and commit yourself to reality over religion, to truth over ideology. The goal is to arrive at what PoW strategy is best for the project. The day nobody is willing to sacrifice their sacred cryptographic cows is the day our chain begins to split.
  3. Give the most authority to comments from long time community members: Fluffypony, Gingeropolous, Smooth, Hyc, dEBRUYNE, SamsungGalaxyPlayer, NeedMoney90, etc etc etc. Dozens of intelligent thoughtful good people have devoted years of their lives to this project, so you can have more trust that the positions these usernames offer are being made in good faith.
  4. Give the least authority to brand new accounts, especially if they seem to demean or disdain longtime community members. There are huge incentives to disrupt constructive dialog on the topic of an ASIC-friendly PoW. For example, imagine you are some dude who invested his entire net-worth into GPUs to mine Monero. Wouldn't you do everything in your power, including making adversarial Github comments, to keep yourself from becoming homeless? I know I would.
  5. Everybody needs to engage this issue! That includes you. Yes, you, the person reading this sentence! If people grumble on the sidelines but don't engage the discussion when it is happening, they are more likely to leave the project if the PoW decision doesn't go their way. And we are more likely to split the chain, weakening all of our privacy as a whole. Think through the implications of both your arguments and the arguments of those you disagree with.
Personally speaking, I was on one side of this debate at the start, but after considering all the facts I was convinced my original position was faulty, so I changed my mind.
That's it. I look forward to further discussions around 1-year versus 10 year-acceptance of an ASIC-friendly PoW, as I am learning so much in this process. And I look forward to uncorking a bottle of Barolo with you in person someday.
Sincerely, MoneroEric
PS: A truly great way to grow in trust is to actually meet in person, so I want to plug the upcoming Konferenco on June 22-23 in Denver: https://monerokon.com
PPS: To my surprise the third person in the Gingeropolous/Fluffy exchange, who I suggested was a newcomer to Monero, was in actuality one of the very first participants in the Monero project! I recant my quick assumption and will, in the future, work harder at providing more accurate examples.
submitted by MoneroEric to Monero [link] [comments]

Monero Deep Dive: The Cryptocurrency To Use If You Want True Anonymity, Far More Anonymous Than Bitcoin

http://www.cypherpunklabs.com/monero-deep-dive-the-cryptocurrency-to-use-if-you-want-true-anonymity-far-more-anonymous-than-bitcoin/
In the early days of cryptocurrency Bitcoin was considered the best payment method for those who wished to stay anonymous. At the time this was true, since Bitcoin required no personal identification information while fiat payment methods like banks and PayPal required a full suite of personal identification information. However, all Bitcoin transactions in history are stored on a publicly accessible block explorer, and with the rise of blockchain forensics it is now possible to figure out who owns a Bitcoin address and what they have been doing with their Bitcoin. Although it is possible to increase Bitcoin’s anonymity by using Tor, VPNs, and CoinJoin, as will be discussed in future Cypherpunk Labs articles, Bitcoin can only be considered pseudo-anonymous rather than fully anonymous.
Nicolas van Saberhagen recognized that Bitcoin lacked full anonymity, in addition to the fact that it is a slow and difficult process to change Bitcoin’s code. Saberhagen proposed to create a new cryptocurrency that was far more anonymous, in addition to correcting some other apparent deficiencies in Bitcoin, and wrote up these ideas in the CryptoNote White Paper.
The first cryptocurrency to utilize the ideas in the CryptoNote White Paper was Bytecoin (BCN), which is a lesser known but still functional stealth cryptocurrency. Bitcointalk user thankful_for_today modified the code from Bytecoin and created BitMonero), but there was community criticism since not everything in the CryptoNote White Paper was adopted. This caused thankful_for_today to apparently abandon the project, but a group of users led by Johny Mnemonic quickly took over and renamed the cryptocurrency Monero (XMR).
One of the most critical pieces of stealth technology that Monero uses is ring signatures. With Bitcoin a transaction is signed with a user’s private key and can be verified with the public key. With a ring signature a transaction is signed by your key as well as the public keys from several other outputs on the blockchain using a triangular distribution method. Essentially, each Monero transaction is signed by a group of keys, and it is not possible to distinguish which key the transaction originated from. This can be thought of as decentralized and trustless mixing, and ultimately ring signatures hide the destination and origin of a transaction.
Eventually Monero upped the ante and implemented ring signature confidential transactions (RingCT), which uses multi-layered linkable spontaneous anonymous group signatures to hide the amount of a transaction. However, RingCT transactions required a large amount of data in order to ensure that the sum of inputs and outputs equaled zero, and bulletproofs were implemented to solve this problem. More about bulletproofs can be read in this paper. Essentially, bulletproofs helped reduce transaction size, lowering transaction fees on the Monero network, and also made it cheaper to create transactions with higher degrees of complexity.
Another critical piece of technology that makes Monero anonymous is stealth addresses. The sender creates a random one-time address for every transaction on behalf of the recipient. This allows a recipient to have just one published address but all of their incoming transactions go to different addresses on the blockchain. Thanks to stealth addresses, only the sender and receiver can determine where a payment was sent, while an outside observer cannot figure that out.
A Monero user can see incoming transactions with their view key, and anyone without the view key cannot see the incoming transactions to any particular address. This view key can be shared, so Monero can be considered optionally transparent, but the default is stealth.
When a Monero user decides to spend their coins, the Monero in a stealth address is broken down into its components and combined with other equivalent components via ring signatures. For example, if 42.42 Monero is sent, then the coins are split into 40 + 2 + 0.4 + 0.02 and combined with other 40’s, 2’s, 0.4’s, and 0.02’s somewhere else in the blockchain. This renders outputs fundamentally indistinguishable, and Unlike Bitcoin’s CoinJoin, no participation from anyone else is needed since already present outputs are being mixed.
Further, Monero tried to increase decentralization of its network by being incompatible with application specific integrated circuits (ASICs) via the CryptoNight protocol. This was originally accomplished by requiring a MB of internal memory, which was unacceptable to ASICs at the time. Also, Monero fit into the L3 cache of modern CPUs, while simultaneously being slower on GPUs, hindering the efficiency of GPU mining firms. That being said, it seems if a cryptocurrency is valuable enough then an ASIC is eventually created for it, and the Monero developers have been in a long term battle where they have to periodically change their mining protocol in order to prevent ASICs from overtaking the network. Monero is expected to release their new mining algorithm, RandomX, in October in order to stomp out the ASICs once again.
It seems the Monero developers are succeeding in their fight against ASIC centralization, and generally Monero is the most profitable cryptocurrency to mine on a personal computer while it is not that profitable with ASICs. This is important because it allows regular joes to mine Monero on their personal computer, decentralizing the network hash rate, as opposed to Bitcoin which is practically impossible to mine on a personal computer and most of the hash rate is in the hands of big mining farms.
Also, Monero uses dynamic block sizes, ensuring low transaction fees and fast confirmation times, as opposed to Bitcoin which often has a clogged mempool which can lead to long waits for confirmations and high transaction fees.
Additionally, Monero technically has an infinite supply since the minimum block reward is 0.6 XMR, and this will be reached in 2040. This ensures that miners will always have an incentive to secure the network long term, even if transaction fees are kept as low as possible. Compare this to Bitcoin where block rewards will approach zero, which may wreck the mining community if transaction fees are not high enough.
Thus, Monero’s ring signatures, RingCT, bulletproofs, and stealth addresses combine to obfuscate the sender, receiver, and amount of the transaction, and transactions are split into chunks that are indistinguishable from other transactions. This provides far more privacy than Bitcoin, since Bitcoin transactions are easily traced on a block explorer. It is clear that Monero is an excellent choice for those that want true anonymity when using cryptocurrency. That being said, it is important to use encrypted messaging as well when organizing a Monero transaction, since anonymity can be compromised if a message regarding a Monero transaction is intercepted.
submitted by turtlecane to Monero [link] [comments]

Video card prices and Cryptocurrency mining - what's going on?

In response to calls for a post addressing current GPU trends, this summary has been written up. It is neither exhaustive nor applicable in all regions, so be sure to research your own builds thoroughly.
Recently, you may have noticed discussion surrounding the current hike in the price of video cards. Or you may have found the price of certain cards (e.g. AMD's RX 570/580 and Nvidia's 1060/1070) higher than you expected.
So what's going on?
A sharp increase in cryptocurrency mining (the solving of complex mathematical problems that underlies the transactions for a given currency) has driven up demand for video cards, both new and used, as people invest in consumer hardware to get involved. Consequently, availability of cards is low, and prices are high.
As a very general idea, here's a basic rundown of recommended retail prices compared to current reseller prices on Amazon:
Card RRP (USD) Amazon
RX 570 4GB ~$179 ~$400+
RX 580 8GB ~$229 ~$500+
GTX 1060 6GB ~$249 ~$400+
GTX 1070 8GB ~$379 ~$500+
Why now?
There are a number of different cryptocurrencies. Bitcoin remains the largest, but increasing concern about transaction speed and cost has recently led to a rise in alternatives. The most prominent of these is Ethereum.
Ethereum is designed to be resistant to ASICs - chips designed specifically for cryptocurrency mining - which means that potential miners must stick to consumer video cards.
What happens next?
Eventually™, it is intended that Ethereum will switch from a proof of work (i.e. mining) to a proof of stake (based on possession of currency) system. Long story short, this will mean no more video card demand from Ethereum miners.
Unfortunately, there is no fixed date for when the switch is due to occur. There are rumours of plans to introduce cards aimed at cryptocurrency miners, which may help to lower prices of mainstream cards.
In the meantime:
Further reading:
ExtremeTech - Cryptocurrency Craze Sends GPU Prices Skyrocketing — Again
Tom's Hardware - GTX 1070 Prices Soar Alongside The 'Ethereum' Cryptocurrency
With this in mind, please refrain from creating new discussion threads about the effect of mining on the price of video cards, and include any questions as part of build help threads or in the daily simple questions post. Thanks!
submitted by CustardFilled to buildapc [link] [comments]

Bitcoin Gold a Shitcoin Vulnerable to Attack Despite $200 Million Market Cap

Bitcoin Gold a Shitcoin Vulnerable to Attack Despite $200 Million Market Cap

https://preview.redd.it/vddehe8qfo321.png?width=690&format=png&auto=webp&s=44a4111dddd126729769612bd27e1ebc30753e14
https://cryptoiq.co/bitcoin-gold-a-shitcoin-vulnerable-to-attack-despite-200-million-market-cap/
The War On Shitcoins Episode 1: Bitcoin Gold (BTG). The war on shitcoins is a Crypto.IQ series that targets and shoots down cryptocurrencies that are not worth investing in either due to their being scams, having serious design flaws, being centralized, or in general just being worthless copies of other cryptocurrencies. There are thousands of shitcoins that are ruining the markets, and Crypto.IQ intends to expose all of them. The crypto space needs an exorcism, and we are happy to provide it.
There are more than 2,000 cryptocurrencies listed on CoinMarketCap, and Bitcoin Gold (BTG) is near the top at number 25 with a market cap of $207 million. This would seem to indicate that Bitcoin Gold is a major cryptocurrency, but it is simply a copycat of Bitcoin with one key and debilitating difference that makes it worse than Bitcoin. Bitcoin Gold is designed to block ASIC miners, leaving only GPU miners.
The idea was that GPU miners would rally around Bitcoin Gold since GPU Bitcoin miners were disenfranchised by ASIC miners years ago. Ultimately, this decision to only allow GPUs resulted in such a low mining hash rate that Bitcoin Gold is vulnerable to 51 percent attacks, and a serious 51 percent attack has already happened once. Further, Bitcoin Gold has had centralization problems from the very beginning.
When Bitcoin Gold launched in November 2017 the developers did a massive premine of 8,000 blocks, which yielded them about 100,000 BTG. At today’s price $12 this is $1.2 million, and when BTG’s price peaked near $500, this was $50 million. This premine is unfair to other BTG miners, traders, and investors. Supposedly, the premined BTG were placed in an “endowment,” which means the developers will receive all of that money eventually, just not all at once. There is no way to verify if this is even true, however, and the excessive 97 percent BTG price crash since January 2018 might be partially due to developers dumping their coins.
A far more serious issue than the premine is BTG’s lack of network security. BTG made mining ASIC resistant by using the Equishash Proof of Work (PoW) algorithm. However, ASICs were eventually developed for Equihash since ASICs can be developed for any PoW algorithm. In May 2018 a 51 percent double spend attack occurred on the Bitcoin Gold network, and a hacker stole $18.6 million from cryptocurrency exchanges that listed BTG. This caused the developers to hard fork in order to implement a newer version of Equihash that is supposedly more ASIC resistant. Clearly, the developers did not learn their lesson that there is no ASIC-resistant PoW algorithm. If Bitcoin Gold became valuable enough, someone would produce an ASIC for it.
It is unclear if Equihash ASICs were the reason for the 51 percent attack, since an attacker could literally just rent some hash rate on a cloud mining site and successfully 51 percent attack Bitcoin Gold. Currently it only takes 1.6 MH/s of rented mining power to successfully perform a double spend attack on the Bitcoin Gold network, and this costs about $1,000 per hour if the hash rate is rented from NiceHash.
Effectively, Bitcoin Gold is not cryptographically secure. The original purpose of banning ASIC miners so that GPU miners could thrive ended up being a fatal flaw for Bitcoin Gold. It is ridiculous that major exchanges like Binance and Bitfinex still offer BTG trading. This is a true disservice to the users of these exchanges and is a risk for the exchanges themselves.
Crypto users need to educate themselves thoroughly before buying any cryptocurrency, or they could end up buying a shitcoin like Bitcoin Gold just because it has a high ranking on CoinMarketCap. BTG has already lost 97 percent of its value since January 2018, and there is strong potential for it to become completely worthless once someone decides to rent some hash power and perform a vicious 51 percent attack.
submitted by turtlecane to CryptoCurrency [link] [comments]

Subreddit Stats: CryptoTechnology top posts from 2017-12-23 to 2020-01-20 15:51 PDT

Period: 758.36 days
Submissions Comments
Total 956 13660
Rate (per day) 1.26 18.01
Unique Redditors 584 3144
Combined Score 21553 44566

Top Submitters' Top Submissions

  1. 1166 points, 43 submissions: Neophyte-
    1. "Do you need a Blockchain?" - this paper is fantastic, everyone should read this before evaluating a coin and if requires a block chain to solve a solution the coin is promising to solve. (136 points, 41 comments)
    2. Do any of you foresee a crypto being widely adopted as a general purpose payment coin? nano, btc, btccash etc (take your pick). I think it won't happen for reasons in this post. What do you think? (59 points, 54 comments)
    3. Noticed the huge rise of EOS lately what does it have over NEO and ethereum and to a lesser extent Cardano? I tried researching it, but wasn't sold. (54 points, 55 comments)
    4. Hard Problems in Cryptocurrency: Five Years Later ~Vitalik (46 points, 1 comment)
    5. I had a Q&A with Bruno head architect / CEO of oyster, thought you guys might like it. (45 points, 2 comments)
    6. A good article that explains in simple terms how Eth2 works, how it will be rolled out and migrated from eth1 (42 points, 4 comments)
    7. DAI the stablecoin can now be transferred GAS free (article explaining how it works via new MCD DAI contract). This holds alot of promise for the so called "Web3" (40 points, 8 comments)
    8. Veriblock is consuming 27% of bitcoins block space - what does this mean for bitcoins future? (39 points, 16 comments)
    9. Vitalik: Alternative proposal for early eth1 <-> eth2 merge (38 points, 3 comments)
    10. Is launching a PoW permissionless blockchain still possible today? or would it be too susceptible to a 51% attack? (37 points, 37 comments)
  2. 578 points, 16 submissions: crypto_ha
    1. Why is Ripple considered a cryptocurrency (by many)? (109 points, 63 comments)
    2. So reportedly there are serious vulnerabilities found in EOS’ code. And it seems like those are more than just random software bugs. (97 points, 29 comments)
    3. Guide: How to get started with Blockchain development? (60 points, 6 comments)
    4. A newly found vulnerability in Nano's Android wallet (44 points, 12 comments)
    5. The history and state of Ethereum's Casper research - Vitalik Buterin (39 points, 4 comments)
    6. What is the difference between Sidechain vs Child Chain vs Off Chain? (39 points, 12 comments)
    7. EOS mainnet is official live (finally), but... (36 points, 24 comments)
    8. Bitcoin's "doomsday" economics - Bank of International Settlements (34 points, 23 comments)
    9. How Wall Street’s embrace could undermine Bitcoin (30 points, 9 comments)
    10. Ethereum ERC 1497: DApp Dispute Evidence Standard (24 points, 0 comments)
  3. 513 points, 20 submissions: ndha1995
    1. Ethereum Classic is currently being 51% attacked (103 points, 31 comments)
    2. Why are there so many garbage posts the past 24 hours? (58 points, 10 comments)
    3. Google Unveils 72-Qubit Quantum Processor With Low Error Rates (48 points, 24 comments)
    4. IOTA's Network-Bound PoW consensus, is it feasible? (42 points, 13 comments)
    5. The Challenges of Investigating Cryptocurrencies and Blockchain Related Crime (29 points, 7 comments)
    6. Deep dive into zk-STARKs with Vitalik Buterin's blog posts (26 points, 3 comments)
    7. Tether discussion thread (26 points, 21 comments)
    8. Vitalik Buterin Proposes a Consensus Algorithm That Requires Only 1% to Be Honest (24 points, 8 comments)
    9. Can somebody compare Qtum vs. NEO, technology-wise? (E.g. PoS vs. PoW; smart contract protocols...) (21 points, 15 comments)
    10. Introduction to Non Fungible Tokens (NFTs) (21 points, 9 comments)
  4. 377 points, 16 submissions: turtleflax
    1. Around 13% of DASH's privateSends are traceable to their origin (69 points, 3 comments)
    2. "Big Bang" attack could leverage Monero's dynamic blocksize to bloat the blockchain to 30TB in only 36 hours (52 points, 3 comments)
    3. The case for the obsolescence of Proof of Work and why 2018 will be the year of Proof of Stake (41 points, 29 comments)
    4. Monero vs PIVX: The First Scheduled Privacy Coin Debate Thread on /CryptoCurrency (38 points, 12 comments)
    5. Introducing the Privacy Coin Matrix, a cross-team collaboration comparing 20 privacy coins in 100 categories (26 points, 25 comments)
    6. Do permissioned blockchains have any merits? (25 points, 23 comments)
    7. The State of Hashing Algorithms — The Why, The How, and The Future (21 points, 4 comments)
    8. How Zerocoin Works in 5 Minutes (19 points, 5 comments)
    9. Errors made by Satoshi (17 points, 8 comments)
    10. How Much Privacy is Enough? Threats, Scaling, and Trade-offs in Blockchain Privacy Protocols - Ian Miers (Cornell Tech, Zerocoin, Zerocash) (17 points, 4 comments)
  5. 321 points, 6 submissions: Qwahzi
    1. Technical comparison of LIGHTNING vs TANGLE vs HASHGRAPH vs NANO (133 points, 37 comments)
    2. Addressing Nano's weaknesses (bandwidth usage and disk IO). Nano voting traffic to be reduced by 99.9% by implementing vote by hash, lazy bootstrapping, and reduced vote rebroadcasting (x-post CryptoCurrency) (78 points, 8 comments)
    3. Emergent centralization due to economies of scale (PoW vs DPoS) – Colin LeMahieu (52 points, 37 comments)
    4. Nano community member developing a distributed "mining" service to pay people to do PoW for third-parties (e.g. exchanges, light wallet services, etc) (32 points, 20 comments)
    5. What do you think about OpenCAP, the cryptocurrency alias protocol that mirrors traditional email addresses? (15 points, 12 comments)
    6. Bitcoin would be a calamity, not an economy (11 points, 52 comments)
  6. 256 points, 4 submissions: rockyrainy
    1. Bitcoin Gold hit by Double Spend Attack (51% attack). The Attacker reversed 22 blocks. (179 points, 102 comments)
    2. ZK-starks white paper published (44 points, 16 comments)
    3. [Q] How does a network reach consensus on what time it is? (21 points, 17 comments)
    4. Stateless (no history) Cryptocurrency via snapshots? (12 points, 7 comments)
  7. 244 points, 3 submissions: HSPremier
    1. From a technical standpoint: Why does every blockchain projects need their own coins? (181 points, 50 comments)
    2. What is Reddit's obsession with REQ? (61 points, 43 comments)
    3. What is the technological difference between a privacy coin and a privacy coin platform? Won't a privacy coin platform be more superior than a privacy coin? (2 points, 3 comments)
  8. 234 points, 2 submissions: Realness100
    1. A Guided Reading of Bitcoin’s Original White Paper (202 points, 10 comments)
    2. A Guided Reading of Ethereum's Original White Paper! (32 points, 5 comments)
  9. 185 points, 4 submissions: tracyspacygo
    1. My brief observation of most common Consensus Algorithms (159 points, 49 comments)
    2. What are the main Trends/Challenges for Bitcoin and whole crytpocurrencies industry? (12 points, 33 comments)
    3. Guideline for Newbies: Trying out Bitcoin transactions with TESTNET (7 points, 1 comment)
    4. Most advanced Cryptocurrencies Comparison Table (7 points, 8 comments)
  10. 177 points, 9 submissions: benmdi
    1. What's the best argument against cryptotechnology? I.e. Steelman the cryptocurrency skeptic (43 points, 42 comments)
    2. Would there be interest from this community in crypto resources aimed at developers? If so, what topics? (29 points, 14 comments)
    3. Has the window for bootstrapping a new PoW coin closed? (24 points, 57 comments)
    4. What can we, as a community, learn from the rise & acquisition of GitHub (23 points, 8 comments)
    5. 🍱 Rollup Roundup: Understanding Ethereum's Emerging Layer 2 (19 points, 1 comment)
    6. Video Tutorial: Introducing An Experience Dev To Smart Contract Coding (17 points, 3 comments)
    7. Do we need a blockchain to be decentralized? What questions would you ask a self described fan of decentralization, but blockchain skeptic? (11 points, 19 comments)
    8. ETH Block Rewards And Second Order Effects On Hardware Availability (7 points, 8 comments)
    9. Which Of The Big Tech Companies Is Most Likely To Bring Crypto Mainstream? Here's Why I Think It's Apple (4 points, 7 comments)
  11. 175 points, 9 submissions: galan77
    1. Is the Lightning Network a massive threat to the blockchain? (49 points, 66 comments)
    2. TPS of Lightning Network vs. Sharding, which one does better? (28 points, 7 comments)
    3. Are there any major downsides to sharding? (21 points, 33 comments)
    4. What's the difference between trustlessness and permissionlessness (19 points, 7 comments)
    5. Which consensus algorithm is the best, PoW, PoS, PoAuthority, PoAsset? (18 points, 57 comments)
    6. How can XRP reach 50,000 TPS when they have no sharding and every node has to validate every single transaction. (15 points, 14 comments)
    7. A few questions about the Lightning Network (14 points, 6 comments)
    8. Pascalcoin can do 72,000 tps apparently. Is this legit? The new Nano? (8 points, 39 comments)
    9. How does Ripple's (XRB's) consensus algorithm Proof of Correctness work, are there any downsides? (3 points, 23 comments)
  12. 175 points, 1 submission: ilielezi
    1. Why white papers in crypto world are so unprofessional? (175 points, 88 comments)
  13. 165 points, 6 submissions: CryptoMaximalist
    1. Facebook's Libra (48 points, 55 comments)
    2. “Fake Stake” attacks on some Proof-of-Stake cryptocurrencies responsibly disclosed by researchers from the Decentralized Systems Lab at UIUC (31 points, 9 comments)
    3. Quantum Computing and the Cryptography in Crypto (27 points, 14 comments)
    4. PING and REJECT attacks on ZCash (Patch available) | Stanford Applied Crypto Group (22 points, 1 comment)
    5. Introduction to Cryptography: Part 1 - Jinglan Wang (19 points, 1 comment)
    6. New site howmanyconfs.com shows the amount of time and confirmations of Proof of Work coins to match 6 confirmations on Bitcoin (18 points, 11 comments)
  14. 163 points, 10 submissions: GainsLean
    1. Videos For Developers Who Want To Learn Blockchain In A Practical Way (36 points, 17 comments)
    2. What Do You Want To Learn? (32 points, 20 comments)
    3. Get Involved With The Smart Contract Coding Challenge (25 points, 4 comments)
    4. Solution To $10K Art Prize (25 points, 3 comments)
    5. Blockchain Course Outline Has Been Released - Feedback warranted (22 points, 12 comments)
    6. Introduction To Distributed Systems And Consensus Protocols (9 points, 2 comments)
    7. Are there any closed source crypto wallets? (4 points, 19 comments)
    8. Are there any successful proof of identity projects? (4 points, 8 comments)
    9. SPV Wallets Vs API Wallets (4 points, 1 comment)
    10. 12 Popular Consensus Algorithms - Explained (2 points, 0 comments)
  15. 163 points, 7 submissions: QRCollector
    1. Part 5. I'm writing a series about blockchain tech and possible future security risks. This is the fifth part of the series talking about an advanced vulnerability of BTC. (43 points, 43 comments)
    2. I'm writing a series about blockchain tech and possible future security risks. This is the third part of the series introducing Quantum resistant blockchains. (36 points, 4 comments)
    3. Part 4B. I’m writing a series about blockchain tech and possible future security risks. This is the fourth part of the series explaining the special quality of going quantum resistant from genesis block. (25 points, 21 comments)
    4. Part 6. (Last part) I'm writing a series about blockchain tech and possible future security risks. Failing shortcuts in an attempt to accomplish Quantum Resistance (24 points, 38 comments)
    5. I'm writing a series about blockchain tech and possible future security risks. This is the first part of the series introducing the basic concept of blockchain and what makes it reliable. (23 points, 10 comments)
    6. I'm writing a series about blockchain tech and possible future security risks. This is the fourth part of the series explaining the special quality of going quantum resistant from genesis block. (7 points, 1 comment)
    7. Part 2. I'm writing a series about blockchain tech and possible future security risks. This is the second part of the series: An accessible description of hashing and signature schemes. (5 points, 0 comments)
  16. 162 points, 3 submissions: FashionistaGuru
    1. How do we change the culture around cryptocurrency? (118 points, 54 comments)
    2. Which cryptos have the best new user experience? (30 points, 34 comments)
    3. Why does Apple prevent many crypto apps from entering the App Store? (14 points, 8 comments)
  17. 157 points, 7 submissions: SamsungGalaxyPlayer
    1. Breaking Monero Episodes 1-3: Introduction, Ring Signatures, 0-Decoy and Chain Reactions (45 points, 1 comment)
    2. "No, dPoW Isn't a Perfect Solution" (35 points, 48 comments)
    3. Breaking Mimblewimble’s Privacy Model - Dragonfly Research (27 points, 10 comments)
    4. Breaking Monero (and Zcash) Episodes 7-9: Remote Nodes, Timing Attacks, Poisoned Outputs (EAE Attack) (21 points, 2 comments)
    5. "Attacker Collection of IP Metadata" (18 points, 10 comments)
    6. "Tracing Transactions Across Cryptocurrency Ledgers" Using Shapeshift and Changelly (6 points, 4 comments)
    7. Breaking Monero Episodes 4-6: Chain Splits (Key Image Attack), Input Selection Algorithm, Unusual Ringsize (5 points, 2 comments)
  18. 147 points, 1 submission: shunsaitakahashi
    1. Proof-of-Approval: Stake Based, 1 Block Finality & History Attack Defense (147 points, 4 comments)
  19. 146 points, 6 submissions: themoderndayhercules
    1. "The selfish mining fallacy" explained and debunked (60 points, 8 comments)
    2. A Discussion of Stable coins and Decentralized Oracles (35 points, 8 comments)
    3. A Selfish Mining Double Spending attack Simulator (25 points, 2 comments)
    4. Why reputation systems don't work (15 points, 12 comments)
    5. A better incentivization for Swarm (6 points, 0 comments)
    6. When Mises met Szabo - A Discussion of the value of Bitcoin (5 points, 16 comments)
  20. 143 points, 7 submissions: KomodoWorld
    1. Komodo Platform's core developer and founder jl777 has started his own blog on Medium. The blog is aimed for senior developers who want to learn about blockchain. (46 points, 15 comments)
    2. Delayed Proof of Work (dPoW) security explained (36 points, 46 comments)
    3. Proof-of-Gameplay (19 points, 3 comments)
    4. Good guide for getting started with the Custom Consensus tech for Komodo-based blockchains (17 points, 0 comments)
    5. Cross-chain migration of coins with Crypto Conditions - by smk762 (12 points, 0 comments)
    6. A step-by-step example of working with a Crypto Conditions based Oracle - by smk762 (10 points, 0 comments)
    7. Changing consensus rules on the fly with Crypto Conditions (3 points, 0 comments)
  21. 141 points, 8 submissions: Stormy1997
    1. What technical/business advantages does a private blockchain have over a SQL server? (49 points, 79 comments)
    2. Is sharding to scale bad? (24 points, 28 comments)
    3. How would one create a fiat gateway theoretically? (19 points, 19 comments)
    4. Looking for Stellar smart contract/side chain code examples (16 points, 1 comment)
    5. Question - Securing personal information on a centralized server with user-owned keys (13 points, 3 comments)
    6. How do blockchains/smart contracts communicate with oracles? (10 points, 4 comments)
    7. Bandwidth scaling for TPS (8 points, 2 comments)
    8. Best method to transmit detailed data between two parties via existing platforms (2 points, 1 comment)
  22. 141 points, 3 submissions: seventyfiver
    1. Why does Ethereum use Solidity while other ecosystems like NEO stick with popular ones like Java and C#? (94 points, 26 comments)
    2. Chainlink's initial Go implementation went live this morning. Has anyone reviewed the code and can comment on it's quality? (40 points, 3 comments)
    3. What are some great books on cryptoeconomics or blockchain technology? (7 points, 4 comments)
  23. 134 points, 6 submissions: johnny_milkshakes
    1. Sub dedicated to DAG based coins (42 points, 8 comments)
    2. Thoughts on this? (28 points, 38 comments)
    3. This is very interesting (24 points, 19 comments)
    4. Educational presentation by Clara Shikhelman (18 points, 0 comments)
    5. Ethics question. (12 points, 40 comments)
    6. How to scale on chain? (10 points, 30 comments)
  24. 127 points, 4 submissions: sukitrebek
    1. What are you currently obsessed with, and why? (58 points, 150 comments)
    2. Crypto-based social network without a cryptocurrency. (42 points, 23 comments)
    3. How does underlying architecture affect what kinds of applications are possible? (17 points, 3 comments)
    4. Holochain vs. Radix DLT (10 points, 11 comments)
  25. 126 points, 1 submission: RufusTheFirefly
    1. Everytime I try to investigate the technology behind Cardano(Ada), I come across the words "scientific" and "peer-reviewed" over and over but almost no actual details. Can someone fill how this coin actually works and where they are in development? (126 points, 49 comments)
  26. 112 points, 1 submission: rocksolid77
    1. Can we have a real debate about the Bitcoin scaling issue? (112 points, 89 comments)
  27. 110 points, 4 submissions: kelluk
    1. What one can learn from browsing 30 million Ethereum addresses (72 points, 21 comments)
    2. I wanted to categorize all coins/tokens, and this is my proposal (23 points, 33 comments)
    3. Should whitepapers be understood by ordinary people? (10 points, 41 comments)
    4. Querying the Ethereum blockchain: how to & what to? (5 points, 5 comments)
  28. 107 points, 1 submission: NewDietTrend
    1. Outside of currency and voting, blockchain is awful and shouldnt be used. Can anyone explain where blockchain is worth the cost? (107 points, 166 comments)
  29. 105 points, 1 submission: insette
    1. /CryptoTech PSA: there are broadly TWO TYPES of Decentralized Exchanges. Which type are you investing in? (105 points, 55 comments)
  30. 103 points, 3 submissions: dtheme
    1. How to accept crypto payments for digital downloads if you are a small business? Solutions, e-commerce sites are lacking (46 points, 38 comments)
    2. How many 24 letter seeds and "Bitcoin" keys can there be? (34 points, 24 comments)
    3. Is there any reason why the big tech companies are not getting into crypto? (23 points, 36 comments)
  31. 103 points, 3 submissions: dvnielng
    1. Why do so many of these businesses need a token? (Unsure) (61 points, 86 comments)
    2. DAPPS - Only coins that have intrinsic value? Ethereum , Neo? (31 points, 10 comments)
    3. How could blockchain work for expensive purchases/escrow? (11 points, 2 comments)
  32. 101 points, 1 submission: kickso
    1. Is NANO everything it says it is? (101 points, 96 comments)
  33. 98 points, 3 submissions: heart_mind_body
    1. How can we breathe some life into this sub? (56 points, 22 comments)
    2. Can anyone give an example for a technology that provides a "public permissioned blockchain"? (28 points, 16 comments)
    3. Can we do a discussion on ICON and "clusters of private chains connected to a public chain" ? (14 points, 13 comments)
  34. 97 points, 8 submissions: kelraku
    1. Thoughts on Mimblewimble? (23 points, 13 comments)
    2. Has anyone looked at the lelantus protocol? (18 points, 6 comments)
    3. How much control do developers have over the coins (18 points, 6 comments)
    4. Lesser known protocols? (11 points, 17 comments)
    5. Zerocoin and Blockchain Analysis (9 points, 5 comments)
    6. Zerocoin vs Cryptonote (7 points, 14 comments)
    7. Lightning network privacy (6 points, 13 comments)
    8. Integrity of the DAG (5 points, 17 comments)
  35. 96 points, 6 submissions: blockstasy
    1. How to Get to One Million Devs (32 points, 12 comments)
    2. The Decade in Blockchain — 2010 to 2020 in Review (27 points, 4 comments)
    3. Ethereum by the Numbers – The Year of 2019 (26 points, 9 comments)
    4. Knowledge Drop: Mining and the role it plays with the Ethereum blockchain (5 points, 0 comments)
    5. A great article that explains Ethereum’s Muir Glacier Update (4 points, 0 comments)
    6. Youtube Silences Crypto Community (2 points, 6 comments)
  36. 93 points, 3 submissions: OneOverNever
    1. Which is the last WHITE PAPER you've read that's truly impacted you? (77 points, 81 comments)
    2. [CMV] Bitcoin's intrinsic technological value. (14 points, 29 comments)
    3. What are some weak points that still hold XVG back from becoming a top player in crypto? (Technically speaking, not marketing and etc.) (2 points, 19 comments)
  37. 93 points, 3 submissions: ryano-ark
    1. (ARK) ACES Completes Integration of ARK Channels for Two-way Transfers for Easy ICOs When Paired With ARK Deployer (Push-Button-Blockchains) (57 points, 5 comments)
    2. (ARK) ACES Releases Fast (Ansible) Deployments for all ACES Applications. (23 points, 4 comments)
    3. A Future of Cryptocurrencies and Blockchains (13 points, 3 comments)
  38. 92 points, 2 submissions: BobUltra
    1. Our blockchains are all centralized! (51 points, 34 comments)
    2. List of qualities needed to dethrone Bitcoin. (41 points, 43 comments)
  39. 90 points, 1 submission: refreshx2
    1. CMV: It doesn't make sense for (crypto)companies to create coins linked to their tech (90 points, 18 comments)
  40. 89 points, 1 submission: perceptron01
    1. What does Nano do better than Steem? (89 points, 55 comments)
  41. 87 points, 1 submission: Shuk
    1. How does one begin to develop an employable skill in blockchain development? (87 points, 25 comments)
  42. 87 points, 1 submission: conorohiggins
    1. I spent three weeks researching and writing a huge guide to stablecoins. Enjoy! (87 points, 36 comments)
  43. 86 points, 1 submission: Bacon_Hero
    1. ELI5: Why did it take so long for blockchain technology to be created? (86 points, 66 comments)
  44. 85 points, 3 submissions: theFoot58
    1. If crypto now is like 'the Internet' of the past, where are we? (65 points, 53 comments)
    2. If the Internet had its Genesis Block, what would it be? (14 points, 9 comments)
    3. Coin grouping - ruby and CryptoCompare API (6 points, 1 comment)
  45. 85 points, 1 submission: youngm2
    1. Which decentralised exchange has the most promise for 2018? (85 points, 89 comments)
  46. 84 points, 4 submissions: bLbGoldeN
    1. On Mass Adoption of Cryptocurrencies (28 points, 68 comments)
    2. Join the Bloom team for our first tech AMA tomorrow (Tuesday, March 13th) at 7 PM GMT! (23 points, 2 comments)
    3. Join the Decred team for an AMA - Friday, June 1st from 19:00 to 22:00 UTC (17 points, 10 comments)
    4. Join the district0x team for an AMA Monday, April 2nd at 5:00 PM (GMT) (16 points, 0 comments)
  47. 82 points, 2 submissions: SubsequentDownfall
    1. Has a 51% attack ever been witnessed? (45 points, 46 comments)
    2. Is a DAG coin like RaiBlocks able to be private like Monero? (37 points, 40 comments)
  48. 82 points, 2 submissions: guidre
    1. Tron and other source Code (42 points, 24 comments)
    2. Why Will companies adopt blockchain, the user interface is complex and i'm not sure that many companies want all their internal dealings made public. (40 points, 19 comments)
  49. 81 points, 4 submissions: solar128
    1. New Atomic Swap Tools Released (35 points, 4 comments)
    2. Using Blockchain to make a censorship-resistant Reddit (28 points, 14 comments)
    3. Best security practices for addressing Spectre & Meltdown (13 points, 0 comments)
    4. Influence of on-chain governance weighted by wealth - good or bad? (5 points, 2 comments)
  50. 81 points, 2 submissions: Blockchainsapiens
    1. Blockchain study finds 0.00% success rate and vendors don't call back when asked for evidence (47 points, 30 comments)
    2. The elephant in the room: would the public ever use a volatile currency over a stable currency? (34 points, 45 comments)
  51. 81 points, 1 submission: Mycryptopedia
    1. Understanding the Tech Behind RaiBlocks (81 points, 7 comments)
  52. 81 points, 1 submission: davidvanbeveren
    1. Article thoroughly analysing / comparing IOTA and RaiBlocks (x-post /CryptoCurrency) (81 points, 10 comments)
  53. 77 points, 4 submissions: DeleteMyOldAccount
    1. HD Wallets Explained: What they are, and how to make them coin agnostic (28 points, 11 comments)
    2. Bitcoin Cash May 15th fork (23 points, 22 comments)
    3. So you want to build a Bitcoin HD wallet? Part 1 (23 points, 3 comments)
    4. Applications of Blockchain in Supply Chain (3 points, 9 comments)
  54. 76 points, 3 submissions: kryptofinger
    1. Why would anyone bother using any DPOS coins for dapps like Eos over normal systems like AWS? (44 points, 104 comments)
    2. Could a state backed privacy coin work? (22 points, 32 comments)
    3. Thoughts on Elastos? (10 points, 8 comments)
  55. 76 points, 1 submission: francohab
    1. 55% of the Nano representative nodes are "official representatives", presumably held by developers. How big of an issue is that? (76 points, 46 comments)
  56. 75 points, 2 submissions: MerkleChainsaw
    1. The biggest challenge for cryptocurrencies and how to mitigate it (73 points, 37 comments)
    2. Short and long term design tradeoffs in crypto (2 points, 2 comments)
  57. 75 points, 1 submission: jatsignwork
    1. Raiblocks & Spam (75 points, 60 comments)
  58. 74 points, 1 submission: behindtext
    1. Hello, this is Jake Yocom-Piatt. Ask me anything about Decred! (74 points, 49 comments)
  59. 73 points, 2 submissions: TexasRadical83
    1. Why use a new "currency" at all? (40 points, 48 comments)
    2. Why are big price increases for crypto a good thing? (33 points, 41 comments)

Top Commenters

  1. Neophyte- (1649 points, 746 comments)
  2. ndha1995 (583 points, 98 comments)
  3. turtleflax (406 points, 116 comments)
  4. senzheng (326 points, 193 comments)
  5. holomntn (294 points, 40 comments)
  6. manly_ (286 points, 43 comments)
  7. signos_de_admiracion (250 points, 18 comments)
  8. fgiveme (231 points, 77 comments)
  9. crypto_kang (222 points, 45 comments)
  10. jatsignwork (220 points, 37 comments)
  11. GainsLean (218 points, 76 comments)
  12. benthecarman (211 points, 48 comments)
  13. rockyrainy (200 points, 39 comments)
  14. hungryforitalianfood (197 points, 58 comments)
  15. rocksolid77 (190 points, 20 comments)
  16. bannercoin (189 points, 11 comments)
  17. insette (181 points, 47 comments)
  18. DiogenicOrder (175 points, 41 comments)
  19. islanavarino (173 points, 51 comments)
  20. behindtext (172 points, 14 comments)
  21. takitus (171 points, 25 comments)
  22. sukitrebek (170 points, 42 comments)
  23. UnknownEssence (170 points, 31 comments)
  24. crypto_ha (170 points, 26 comments)
  25. AlexCoventry (167 points, 17 comments)
  26. DragonWhsiperer (165 points, 38 comments)
  27. stop-making-accounts (164 points, 57 comments)
  28. KnifeOfPi2 (157 points, 13 comments)
  29. Edgegasm (156 points, 42 comments)
  30. ippond (152 points, 15 comments)
  31. dontlikecomputers (151 points, 61 comments)
  32. QRCollector (150 points, 46 comments)
  33. alexrecuenco (145 points, 18 comments)
  34. BobUltra (144 points, 88 comments)
  35. SpamCamel (135 points, 22 comments)
  36. InterdisciplinaryHum (133 points, 107 comments)
  37. theglitteringone (132 points, 10 comments)
  38. ChocolateSunrise (128 points, 23 comments)
  39. PM_ME_UR_QUINES (125 points, 4 comments)
  40. narwhale111 (122 points, 15 comments)
  41. pepe_le_shoe (121 points, 47 comments)
  42. Darius510 (119 points, 39 comments)
  43. glen-hodl (118 points, 21 comments)
  44. HOG_ZADDY (117 points, 23 comments)
  45. coranos2 (116 points, 44 comments)
  46. etherenvoy (116 points, 15 comments)
  47. johnny_milkshakes (115 points, 55 comments)
  48. galan77 (115 points, 52 comments)
  49. hybridsole (113 points, 40 comments)
  50. funciton (113 points, 8 comments)
  51. Mr0ldy (110 points, 24 comments)
  52. Corm (109 points, 42 comments)
  53. cryptoscopia (109 points, 7 comments)
  54. ReportFromHell (106 points, 39 comments)
  55. broscientologist (105 points, 26 comments)
  56. straytjacquet (104 points, 28 comments)
  57. Quadling (101 points, 24 comments)
  58. BlockEnthusiast (101 points, 17 comments)
  59. thats_not_montana (99 points, 37 comments)
  60. TheRealMotherOfOP (98 points, 27 comments)
  61. yarauuta (96 points, 11 comments)
  62. pegasuspect93 (96 points, 1 comment)
  63. andrew_bao (93 points, 40 comments)
  64. samdotla (93 points, 6 comments)
  65. melodious_punk (91 points, 34 comments)
  66. Mquantum (91 points, 31 comments)
  67. TJ_Hooker15 (91 points, 27 comments)
  68. NoFaptain99 (91 points, 3 comments)
  69. ilielezi (87 points, 10 comments)
  70. Raapop (87 points, 2 comments)
  71. Allways_Wrong (86 points, 36 comments)
  72. bLbGoldeN (86 points, 19 comments)
  73. ResIpsaLoquiturrr (86 points, 15 comments)
  74. kabelman93 (85 points, 29 comments)
  75. no_pants_gamer (84 points, 9 comments)
  76. AnkurTechracers (83 points, 16 comments)
  77. ric2b (83 points, 11 comments)
  78. Big_Goose (83 points, 10 comments)
  79. Lifeistooshor1 (82 points, 21 comments)
  80. vornth (82 points, 11 comments)
  81. Sargos (81 points, 25 comments)
  82. refreshx2 (81 points, 16 comments)
  83. Qwahzi (78 points, 27 comments)
  84. StupidRandomGuy (77 points, 35 comments)
  85. WikiTextBot (77 points, 24 comments)
  86. SnootyEuropean (77 points, 5 comments)
  87. cryptogainz (76 points, 14 comments)
  88. frequentlywrong (76 points, 4 comments)
  89. the_defiant (76 points, 4 comments)
  90. BrangdonJ (75 points, 28 comments)
  91. hendrik_v (75 points, 7 comments)
  92. solar128 (74 points, 18 comments)
  93. foobazzler (74 points, 8 comments)
  94. ginger_beer_m (73 points, 35 comments)
  95. kAhmij (73 points, 25 comments)
  96. DeleteMyOldAccount (73 points, 20 comments)
  97. sn0wr4in (73 points, 9 comments)
  98. Dyslectic_Sabreur (72 points, 5 comments)
  99. X7spyWqcRY (71 points, 8 comments)
  100. Krapser (70 points, 5 comments)

Top Submissions

  1. A Guided Reading of Bitcoin’s Original White Paper by Realness100 (202 points, 10 comments)
  2. From a technical standpoint: Why does every blockchain projects need their own coins? by HSPremier (181 points, 50 comments)
  3. Bitcoin Gold hit by Double Spend Attack (51% attack). The Attacker reversed 22 blocks. by rockyrainy (179 points, 102 comments)
  4. Why white papers in crypto world are so unprofessional? by ilielezi (175 points, 88 comments)
  5. My brief observation of most common Consensus Algorithms by tracyspacygo (159 points, 49 comments)
  6. Proof-of-Approval: Stake Based, 1 Block Finality & History Attack Defense by shunsaitakahashi (147 points, 4 comments)
  7. "Do you need a Blockchain?" - this paper is fantastic, everyone should read this before evaluating a coin and if requires a block chain to solve a solution the coin is promising to solve. by Neophyte- (136 points, 41 comments)
  8. Technical comparison of LIGHTNING vs TANGLE vs HASHGRAPH vs NANO by Qwahzi (133 points, 37 comments)
  9. Everytime I try to investigate the technology behind Cardano(Ada), I come across the words "scientific" and "peer-reviewed" over and over but almost no actual details. Can someone fill how this coin actually works and where they are in development? by RufusTheFirefly (126 points, 49 comments)
  10. How do we change the culture around cryptocurrency? by FashionistaGuru (118 points, 54 comments)

Top Comments

  1. 160 points: holomntn's comment in ELI5: Why did it take so long for blockchain technology to be created?
  2. 121 points: KnifeOfPi2's comment in How do we change the culture around cryptocurrency?
  3. 105 points: theglitteringone's comment in Outside of currency and voting, blockchain is awful and shouldnt be used. Can anyone explain where blockchain is worth the cost?
  4. 102 points: benthecarman's comment in If crypto now is like 'the Internet' of the past, where are we?
  5. 96 points: pegasuspect93's comment in If crypto now is like 'the Internet' of the past, where are we?
  6. 95 points: bannercoin's comment in Realistically, why would anybody expect the startup crypto platforms to beat out the corporate giants who are developing their own Blockchain as a Service (BaaS) solutions? Ex. IBM, SAP, JP Morgan...
  7. 83 points: AlexCoventry's comment in Ethereum private key with all zeroes leads to an account with 5000$ on it
  8. 82 points: deleted's comment in Is blockchain really useful ?
  9. 81 points: signos_de_admiracion's comment in Why white papers in crypto world are so unprofessional?
  10. 78 points: NoFaptain99's comment in Why do so many of these businesses need a token? (Unsure)
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Free Bitcoin Mining Website 2020  Mine 0.08BTC Daily ... WTF Happened to BITCOIN?! - YouTube Simple Guide to Bitcoin Bitcoin Report Volume 56 (CPUs, GPUs, and ASICs) Noob's Guide To Bitcoin Mining - Super Easy & Simple - YouTube

Comparing Bitcoin ASICs. Two proposals have been made in the past for attempts at comparing ASICs - Gh/mm² and η-factor. Gh/mm ² is a simple measure of the number of Gigahashes per second of the chip, divided by its die area (area of the the actual silicon). This measure however does not take into account the node size which affects how many logical cells can fit in a given area. As a ... ASIC vs CPU mining []. An ASIC Bitcoin miner is designed exclusively for the purpose of mining bitcoin. Though significantly more expensive to purchase, they are far more powerful (higher hash rate) and electricity-efficient than CPUs and GPUs (graphics cards) – used for mining in the early days of bitcoin – and even FPGAs (field programmable gate arrays), which were, in 2011, the most ... ASICs’ Impact on Cryptocurrency. Bitcoin is based on blockchain technology, a decentralized platform which takes power away from a central authority and gives it to the average person. Sensitive information is stored on the blockchain rather than large data centers, and is cryptographically secured. A vast amount of people, known as miners, all work together to validate the network, instead ... asic (АСИК) это интегральная схема специального назначения, которая используется для майнинга криптовалют. Сегодня asic получили широкое распространение Bitcoin Mining-Hardware (ASICs) sind hochspezialisierte Computer, die zum Mining von Bitcoins verwendet werden. Die ASIC-Industrie ist komplex und wettbewerbsfähig geworden. Mining-Hardware ist nur noch dort zu finden, wo es billigen Strom gibt. Als Satoshi Bitcoin veröffentlichte, wollte er, dass es auf Computer-CPUs abgebaut wird. Allerdings: Unternehmerische Programmierer erkannten bald ...

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