Inside Bitcoin: transactions and scripts. Part 8 - The ...

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
  • LBRY - To allow users to deploy content natively to LBRY
  • MakerDAO to allow users to lend small amounts backed by their Reddit community points.
  • STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
  1. Download Dragonchain’s dctl
  2. Input three commands into a terminal
  3. Build an image
  4. Run it
More information can be found in our Get started documents.

Architecture
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs
  • Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
  • While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
  • Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
  • Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
  • Operational multi-cloud
  • Operational on-premises capabilities
  • Operational deployment to any datacenter
  • Over 700 independent Community Verification Nodes with proof of ownership
  • Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
  1. Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
  2. Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
  3. In a combination of the above, customers could cover aggregated fees.
  4. Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete
For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress
See above

Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
  • Obtain VP support and approval for the release
  • Verify ownership of the software to be released
  • Verify that no proprietary content would be released
  • Convince the organization that there was a value to the open source community
  • Convince the organization that there was a value to Disney
  • Offer the plan for ongoing maintenance of the project outside of Disney
  • Itemize competing projects
  • Verify no conflict of interest
  • Preferred license
  • Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
  • Obtain legal approval
  • Approval from corporate, parks, and other business units
  • Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
  • Trademark searches conducted for the selected name Dragonchain
  • Obtain IT security approval
  • Manual review of OSS components conducted
  • OWASP Dependency and Vulnerability Check Conducted
  • Obtain technical (software) approval
  • Offer management, process, and financial plans for the maintenance of the project.
  • Meet list of items to be addressed before release
  • Remove all Disney project references and scripts
  • Create a public distribution list for email communications
  • Remove Roets’ direct and internal contact information
  • Create public Slack channel and move from Disney slack channels
  • Create proper labels for issue tracking
  • Rename internal private Github repository
  • Add informative description to Github page
  • Expand README.md with more specific information
  • Add information beyond current “Blockchains are Magic”
  • Add getting started sections and info on cloning/forking the project
  • Add installation details
  • Add uninstall process
  • Add unit, functional, and integration test information
  • Detail how to contribute and get involved
  • Describe the git workflow that the project will use
  • Move to public, non-Disney git repository (Github or Bitbucket)
  • Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by j0j0r0 to ethereum [link] [comments]

Top-5 Ways To Buy Bitcoin Instantly

The choice of the optimal ways to buy Bitcoin depends on three factors: how much information you want to disclose, what is the amount of the transaction and what level of security you require. However, it is almost impossible to comply with all 3 factors. So, what is the best way to buy Bitcoin?

1. Stock exchange

The best way to buy crypto is to use an exchange (Binance, Coinbase Pro, Huobi Global), where one can sell and buy digital currency from other investors. The price is set manually. In this case, the commission charged by the intermediary will not exceed 1%. The exchange provides anonymity since you don’t need to provide your ID in most exchanges. There are several options for transactions:
If you want to know how to begin investing in Bitcoin, start studying stock exchanges.

Pros:

Cons:

2. Exchanger

A crypto exchanger (Localbitcoins, Lykke, F-change) allows exchanging fiat or other tokens for BTC according to a fixed rate. It is probably the easiest way to buy crypto. The service adds a commission higher than that on the stock exchange.

Pros:

Cons:

3. ATMs for BTC

ATMs for Bitcoins only enter the market. It is enough to have the necessary amount of cash to be able to exchange it for the equivalent in BTC. Such a transaction is instant and does not require registration or other formalities. There are now over 8500 BTC ATMs around the world.

4. For cash with individuals

A hand-to-hand sale is the most private and most insecure way to buy cryptocurrency. It is lucky if you know reliable miners or crypto businessmen. Rent, salary, taxes – all this requires ordinary money, so they constantly have a need to sell mined or earned cryptocurrency. Pros – maximum anonymity of transactions. Cons – risks from dishonest partners.

5. Telegram bots

Telegram bot is an automatic script based on the search for offers and counteroffers. If someone wants to sell BTC, they send a request to the bot and it looks for a counter offer. As soon as someone sends a request for the purchase of Bitcoin, the bot will complete a transaction between these two users.

Pros:

Cons:

Disclaimer

While talking about the ways to buy Bitcoin, it is important to mention that this article doesn’t provide any advice and directions regarding the investments in particular cryptocurrencies and pursues only informative purposes.
submitted by CoinjoyAssistant to btc [link] [comments]

In my next newsletter I plan to highlight Ren. Anything I should add or remove?

Hey guys I'm the author of a short weekly newsletter called The Weekly Coin where I highlight high potential lower cap projects. Next week I plan to highlight Ren. I want to consult the community to see if I missed out or should add any details.
(If you're interested you can check out The Weekly Coin here, but no pressure at all.)
Here is the newsletter.

Remember when smart phones had different operating systems? I’m talking about early cell phone days, the days of the flip phone. The Motorola Razr V3, Sony Ericsson K300, and Samsung SGH-D500 all had its their own proprietary OS. It was all a jumbled mess. The cell phone industry couldn’t move together as one.
Nowadays there is much less variety to contend with. Operating systems have dwindled down to mainly just iOS and Android and as a result cell phones have advanced greatly.
Blockchains today operate just like the operating systems of those ancient dark times. Ethereum has no clue Bitcoin exist, Bitcoin has no clue ZCash exists and vice versa. The communication between blockchain networks is called interoperability and Ren is doing just that.
Ren is…
"The first and only open protocol that provides access to inter-blockchain liquidity for all decentralized applications. Bringing BTC, BCH and ZEC to your Ethereum dApp." (renproject.io)
Along with interoperablity Ren focuses heavily on privacy for true decentralization.
"Trustless privacy and interoperability are absolutely necessary for achieving truly decentralized applications that are secure, usable, and liquid." (docs.renproject.io/ren)
Overview
- CoinMarketCap Rank: 82
- Current Price: $0.026782
- Market Cap: $52,693,330
- Max Supply: 1,000,000,000 REN
- Where to buy REN: Binance, Huobi, Kyber Network, Uniswap
- Development Frequency: On Github the Ren organization has a number of active repositories that help developers integrate Ren into their own dApps even providing a TypeScript example as well as documentation on getting started. As a developer this is a beauty to see.
Ren has been making great strides recently in inter-blockchain liquidity by recently announcing The Ren Alliance.
"The Ren Alliance is a consortium of DeFi companies and/or projects that are helping secure, develop, and utilize RenVM." (Introducing the Ren Alliance)
Ren is putting in work and a lot of it. There needs to be a standardized way of communication so this space can move together more concurrently or at the very least pool resources together. I think Ren is definitely a coin you should take a look at.

Let me know what you think!
// Ken
submitted by Raleigh_CA to RenProject [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.

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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]

Update TKEYSPACE 1.3.0 on Android

Update TKEYSPACE 1.3.0 on Android

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Version 1.3.0 is a powerful update to TkeySpace that our team has been carefully preparing. since version 1.2.0, we have been laying the foundation for implementing new features that are already available in the current version.
Who cares about the security and privacy of their assets is an update for you.
TkeySpace — was designed to give You full control over your digital assets while maintaining an exceptional level of security, which is why there is no personal data in the wallet: phone number, the email address that could be compromised by hackers — no identity checks and other hassles, just securely save the backup phrase consisting of 12 words.

Briefly about the TkeySpace 1.3.0 update :

  • Code optimization and switching to AndroidX;
  • New section-Privacy;
  • Built-in TOR;
  • Selecting the privacy mode;
  • Selecting the recovery method for each currency;
  • Choosing the address format for Litecoin;
  • Enhanced validation of transactions and blocks in the network;
  • Disk space optimization;
  • Accelerated syncing;
  • Checking “double spending”;
  • The bloom filter to check for nodes;
  • Updating the Binance and Ethereum libraries;
  • A function to hide the balance;
  • Advanced currency charts;
  • Access to charts without authentication;
  • News section;
  • Browser for Tkeycoin;
  • Independent Commission entry for Bitcoin;
  • New digital currencies;
  • Digital currency exchange tab.

Code optimization and switching to AndroidX

A lot of work has been done on optimizing the code to speed up the application, improving the logic, synchronization speed, calculating the hash of cryptocurrencies, and successfully switching to AndroidX.

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New section: Privacy

  • Enable Tor;
  • Blockchain transaction (the selection of the privacy mode);
  • Blockchain recovery (choosing a recovery method);
https://preview.redd.it/iydfwuhittx41.png?width=1080&format=png&auto=webp&s=2ce7c489d893a2ab6b9d6fede57d8b94404edcfb

TOR

Starting with the current update, the TkeySpace wallet can communicate via the TOR network, includes new privacy algorithms, and supports 59 different currencies.

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Tor is a powerful privacy feature for those who own large assets or live in places where the Internet is heavily censored.
Tor technology provides protection against traffic analysis mechanisms that compromise not only Internet privacy, but also the confidentiality of trade secrets, business contacts, and communications in General.
When you enable TOR settings, all outgoing traffic from the wallet will be encrypted and routed through an anonymous network of servers, periodically forming a chain through the Tor network, which uses multi-level encryption, effectively hiding any information about the sender: location, IP address, and other data.
This means that if your provider blocks the connection, you can rest easy — after all, by running this function, you will get an encrypted connection to the network without restrictions.

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In TOR mode, the wallet may work noticeably slower and in some cases, there may be problems with the network, due to encryption, some blockchain browsers may temporarily not work. However, TOR encryption is very important when Internet providers completely block traffic and switching to this mode, you get complete freedom and no blocks for transactions.

Confidentiality of transactions (the Blockchain transaction)

The wallet can change the model of a standard transaction, mixing inputs and outputs, making it difficult to identify certain cryptocurrencies. In the current update, you can select one of several modes for the transaction privacy level: deterministic lexicographic sorting or shuffle mode.

Mode: Lexicographic indexing

Implemented deterministic lexicographic sorting using hashes of previous transactions and output indexes for sorting transaction input data, as well as values and scriptPubKeys for sorting transaction output data;
We understand that information must remain confidential not only in the interests of consumers but also in higher orders, financial systems must be kept secret to prevent fraud. One way to address these privacy shortcomings is to randomize the order of inputs and outputs.
Lexicographic ordering is a comparison algorithm used to sort two sets based on their Cartesian order within their common superset. Lexicographic order is also often referred to as alphabetical order or dictionary order. The hashes of previous transactions (in reverse byte order) are sorted in ascending order, lexicographically.
In the case of two matching transaction hashes, the corresponding previous output indexes will be compared by their integer value in ascending order. If the previous output indexes match, the input data is considered equal.

Shuffle Mode: mixing (random indexing)

To learn more about how “shuffle mode” works, we will first analyze the mechanisms using the example of a classic transaction. Current balance Of your wallet: 100 TKEY, coins are stored at different addresses:
x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
Addresses in the blockchain are identifiers that you use to send cryptocurrency to another person or to receive digital currency.
In a classic transaction, if you need to send, for example, 19 TKEY — 100 TKEY will be sent to the network for “melting” coins, 19 TKEY will be sent to the Recipient, and ~80.9 TKEY will return to the newly generated address for “change” in your wallet.

https://preview.redd.it/x595qwdottx41.png?width=806&format=png&auto=webp&s=d9c2ae5620a3410ed83f7e16c018165c8ab35844
In the blockchain explorer, you will see the transaction amount in the amount of 100 TKEY, where 80.99999679 TKEY is your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee. Thus, in the blockchain search engine, most of your balance is shown in the transaction.

How does the shuffle mode work?

Let’s look at a similar example: you have 100 TKEY on your balance, and you need to send 19 TKEY.
x1. Address-contains 10 TKEY. x2. Address-contains 20 TKEY. x3. Address-contains 30 TKEY. x4. Address-contains 15 TKEY. x5. Address-contains 25 TKEY.
You send 19 TKEY, the system analyzes all your addresses and balances on them and selects the most suitable ones for the transaction. To send 19 TKEY, the miners will be given coins with x2. Addresses, for a total of 20 TKEY. Of these, 19 TKEY will be sent to the recipient, and 0.99999679 TKEY will be returned to Your new address as change minus the transaction fee.

https://preview.redd.it/doxmqffqttx41.png?width=1400&format=png&auto=webp&s=5c99ec41363fe50cd651dc0acab05e175416006a
In the blockchain explorer, you will see the transaction amount in the amount of 20 TKEY, where 0.99999679 TKEY is Your change, 19 TKEY is the amount you sent and 0.00000321 is the transaction fee.
The shuffle mode has a cumulative effect. with each new transaction, delivery Addresses will be created and the selection of debit addresses/s that are most suitable for the transaction will change. Thus, if you store 1,000,000 TKEY in your wallet and want to send 1 TKEY to the recipient, the transaction amount will not display most of your balance but will select 1 or more addresses for the transaction.

Selecting the recovery method for each digital currency (Blockchain restore)

Now you can choose the recovery method for each currency: API + Blockchain or blockchain.
Note: This is not a syncing process, but rather the choice of a recovery method for your wallet. Syncing takes place with the blockchain — regardless of the method you choose.
https://preview.redd.it/gxsssuxrttx41.png?width=1080&format=png&auto=webp&s=cd9fe383618dda0e990e86485652ff95652a8481

What are the differences between recovery methods?

API + Blockchain

In order not to load the entire history of the blockchain, i.e. block and transaction headers, the API helps you quickly get point information about previous transactions. For example, If your transactions are located in block 67325 and block 71775, the API will indicate to the node the necessary points for restoring Your balance, which will speed up the “recovery” process.
As soon as the information is received, communication with the peers takes place and synchronization begins from the control point, then from this moment, all subsequent block loading is carried out through the blockchain. This method allows you to quickly restore Your existing wallet.
‘’+’’ Speed.
‘’-’’ The API server may fail.

Blockchain

This method loads all block headers (block headers + Merkle) starting from the BIP44 checkpoint and manually validates transactions.
‘’+’’ It always works and is decentralized. ‘’-’’ Loading the entire blockchain may take a long time.

Why do I need to switch the recovery method?

If when creating a wallet or restoring it, a notification (!) lights up in red near the selected cryptocurrency, then most likely the API has failed, so go to SettingsSecurity CenterPrivacyBlockchain Restore — switch to Blockchain. Syncing will be successful.

Selecting the address format

You can choose the address format not only for Bitcoin but also for Litecoin. Legacy, SegWit, Native SegWit. Go to SettingsManage WalletsAddress Format.

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Working at the code level

Enhanced validation of transactions and blocks in the network

Due to the increased complexity in the Tkeycoin network, we have implemented enhanced validation of the tkeycoin consensus algorithm, and this algorithm is also available for other cryptocurrencies.

What is the advantage of the enhanced validation algorithm for the user

First, the name itself speaks for itself — it increases the security of the network, and second, by implementing the function — we have accelerated the work of the TkeySpace blockchain node, the application consumes even fewer resources than before.
High complexity is converted to 3 bytes, which ensures fast code processing and the least resource consumption on your device.

Synchronization

The synchronization process has been upgraded. Node addresses are added to the local storage, and instant synchronization with nodes occurs when you log in again.

Checking for double-spending

TkeySpace eliminates “double-spending” in blockchains, which is very valuable in the Bitcoin and Litecoin networks.
For example, using another application, you may be sent a fake transaction, and the funds will eventually disappear from the network and your wallet because this feature is almost absent in most applications.
Using TkeySpace — you are 100% sure that your funds are safe and protected from fraudulent transactions in the form of “fake” transactions.

The bloom filter to check for nodes

All nodes are checked through the bloom filter. This allows you to exclude fraudulent nodes that try to connect to the network as real nodes of a particular blockchain.
In practice, this verification is not available in applications, Tkeycoin — decided to follow a new trend and change the stereotypes, so new features such as node verification using the bloom filter and double-spending verification are a kind of innovation in applications that work with cryptocurrencies.

Updating the Binance and Ethereum libraries

Updated Binance and Ethereum libraries for interaction with the TOR network.

Interface

Function — to hide the balance

This function allows you to hide the entire balance from the main screen.

Advanced currency charts and charts without authentication

Detailed market statistics are available, including volumes, both for 1 day and several years. Select the period of interest: 1 day, 7 days, 1 month, 3 months, 6 months, 1 year, 2 years.
In version 1.3.0, you can access charts without authentication. You can monitor the cryptocurrency exchange rate without even logging in to the app. If you have a pin code for logging in, when you open the app, swipe to the left and you will see a list of currencies.

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News

In the market data section — in the tkeyspace added a section with current news of the cryptocurrency market.

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Blockchain Explorer for Tkeycoin

Transaction verification for Tkeycoin is now available directly in the app.

Independent Commission entry for Bitcoin

Taking into account the large volume of the Bitcoin network, we have implemented independent Commission entry — you can specify any Commission amount.
For other currencies, smart Commission calculation is enabled based on data from the network. The network independently regulates the most profitable Commission for the sender.

New digital currencies

The TkeySpace wallet supports +59 cryptocurrencies and tokens.

Cryptocurrencies

Tkeycoin (TKEY), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), DASH, Binance (BNB), EOS.

Stablecoins

TrueUSD (TUSD), Tether USD (USDT), USD Coin (USDC), Gemini Dollar (GUSD), STASIS EURO (EURS), Digix Gold Token (DGX), Paxos Standard (PAX), PAX Gold (PAXG), Binance USD (BUSD), EOSDT, Prospectors Gold (PGL).

ERC-20, BEP2, and EOS tokens

Newdex (NDX), DigixDAO ERC-20 (DGD), Chainlink ERC-20 (LINK), Decentraland ERC-20 (MANA), EnjinCoin ERC-20 (ENJ), the Native Utility (NUT), 0x Protocol ERC-20 (ZRX), Aelf ERC-20 (ELF), Dawn DAO ERC-20 (AURA), Cashaaa BEP2 (CAS), Bancor ERC-20 (BNT), the Basic Attention Token ERC-20 (BAT), Golem ERC-20 (GNT), Mithril ERC-20 (MITH), MEETONE, NEXO ERC-20, Holo ERC-20 (HOT), Huobi Token ERC-20 (HT), IDEX ERC-20, IDEX Membership ERC-20 (IDXM), Bitcoin BEP2 (BTCB), Waltonchain ERC-20 (WTC), KuCoin Shares ERC-20 (KCS), Kyber Network Crystal ERC-20 (KNC), Loom Network ERC-20 (LOOM), Ripple (XRP), Everipedia (IQ), Loopring ERC-20 (LRC), Maker ERC-20 (MKR), the Status of the ERC-20 (SNT), Ankr Network BEP2 (ANKR), OmiseGO ERC-20 (OMG), ^ american English ERC-20 (^american English), Polymath ERC-20 (POLY), Populous ERC-20 (PPT), Pundi X ERC-20 (NPXS), Parser ERC-20 (REP), Revain ERC-20 (R), Binance ERC20 (BNB-ERC20), Gifto BEP2 (GTO).

Exchange of cryptocurrency

The “Limitless Crypto Exchange” tab is available for a quick transition to an unlimited exchange in 200 digital currencies — 10,000 currency pairs.

How do I update TkeySpace to version 1.3.0?

  1. Go to Google Play on your device — My apps and games — find TkeySpace in the list of apps — click Update.
  2. Go to Google Play on your device-write TkeySpace in the search — click on the app icon — Update.
After the update, you will need to restore your wallet.
submitted by tkeycoin to Tkeycoin_Official [link] [comments]

A Beginners Guide to Bitcoin, Blockchain & Cryptocurrency

As cryptocurrency, and blockchain technology become more abundant throughout our society, it’s important to understand the inner workings of this technology, especially if you plan to use cryptocurrency as an investment vehicle. If you’re new to the crypto-sphere, learning about Bitcoin makes it much easier to understand other cryptocurrencies as many other altcoins' technologies are borrowed directly from Bitcoin.
Bitcoin is one of those things that you look into only to discover you have more questions than answers, and right as you’re starting to wrap your head around the technology; you discover the fact that Bitcoin has six other variants (forks), the amount of politics at hand, or that there are over a thousand different cryptocurrencies just as complex if not even more complex than Bitcoin.
We are currently in the infancy of blockchain technology and the effects of this technology will be as profound as the internet. This isn’t something that’s just going to fade away into history as you may have been led to believe. I believe this is something that will become an integral part of our society, eventually embedded within our technology. If you’re a crypto-newbie, be glad that you're relatively early to the industry. I hope this post will put you on the fast-track to understanding Bitcoin, blockchain, and how a large percentage of cryptocurrencies work.

Community Terminology

Altcoin: Short for alternative coin. There are over 1,000 different cryptocurrencies. You’re probably most familiar with Bitcoin. Anything that isn’t Bitcoin is generally referred to as an altcoin.
HODL: Misspelling of hold. Dank meme accidentally started by this dude. Hodlers are much more interested in long term gains rather than playing the risky game of trying to time the market.
TO THE MOON: When a cryptocurrency’s price rapidly increases. A major price spike of over 1,000% can look like it’s blasting off to the moon. Just be sure you’re wearing your seatbelt when it comes crashing down.
FUD: Fear. Uncertainty. Doubt.
FOMO: Fear of missing out.
Bull Run: Financial term used to describe a rising market.
Bear Run: Financial term used to describe a falling market.

What Is Bitcoin?

Bitcoin (BTC) is a decentralized digital currency that uses cryptography to secure and ensure validity of transactions within the network. Hence the term crypto-currency. Decentralization is a key aspect of Bitcoin. There is no CEO of Bitcoin or central authoritative government in control of the currency. The currency is ran and operated by the people, for the people. One of the main development teams behind Bitcoin is blockstream.
Bitcoin is a product of blockchain technology. Blockchain is what allows for the security and decentralization of Bitcoin. To understand Bitcoin and other cryptocurrencies, you must understand to some degree, blockchain. This can get extremely technical the further down the rabbit hole you go, and because this is technically a beginners guide, I’m going to try and simplify to the best of my ability and provide resources for further technical reading.

A Brief History

Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto is unknown. The idea of Bitcoin was first introduced in 2008 when Nakamoto released the Bitcoin white paper - Bitcoin: A Peer-to-Peer Electronic Cash System. Later, in January 2009, Nakamoto announced the Bitcoin software and the Bitcoin network officially began.
I should also mention that the smallest unit of a Bitcoin is called a Satoshi. 1 BTC = 100,000,000 Satoshis. When purchasing Bitcoin, you don’t actually need to purchase an entire coin. Bitcoin is divisible, so you can purchase any amount greater than 1 Satoshi (0.00000001 BTC).

What Is Blockchain?

Blockchain is a distributed ledger, a distributed collection of accounts. What is being accounted for depends on the use-case of the blockchain itself. In the case of Bitcoin, what is being accounted for is financial transactions.
The first block in a blockchain is referred to as the genesis block. A block is an aggregate of data. Blocks are also discovered through a process known as mining (more on this later). Each block is cryptographically signed by the previous block in the chain and visualizing this would look something akin to a chain of blocks, hence the term, blockchain.
For more information regarding blockchain I’ve provided more resouces below:

What is Bitcoin Mining

Bitcoin mining is one solution to the double spend problem. Bitcoin mining is how transactions are placed into blocks and added onto the blockchain. This is done to ensure proof of work, where computational power is staked in order to solve what is essentially a puzzle. If you solve the puzzle correctly, you are rewarded Bitcoin in the form of transaction fees, and the predetermined block reward. The Bitcoin given during a block reward is also the only way new Bitcoin can be introduced into the economy. With a halving event occurring roughly every 4 years, it is estimated that the last Bitcoin block will be mined in the year 2,140. (See What is Block Reward below for more info).
Mining is one of those aspects of Bitcoin that can get extremely technical and more complicated the further down the rabbit hole you go. An entire website could be created (and many have) dedicated solely to information regarding Bitcoin mining. The small paragraph above is meant to briefly expose you to the function of mining and the role it plays within the ecosystem. It doesn’t even scratch the surface regarding the topic.

How do you Purchase Bitcoin?

The most popular way to purchase Bitcoin through is through an online exchange where you trade fiat (your national currency) for Bitcoin.
Popular exchanges include:
  • Coinbase
  • Kraken
  • Cex
  • Gemini
There’s tons of different exchanges. Just make sure you find one that supports your national currency.

Volatility

Bitcoin and cryptocurrencies are EXTREMELY volatile. Swings of 30% or more within a few days is not unheard of. Understand that there is always inherent risks with any investment. Cryptocurrencies especially. Only invest what you’re willing to lose.

Transaction & Network Fees

Transacting on the Bitcoin network is not free. Every purchase or transfer of Bitcoin will cost X amount of BTC depending on how congested the network is. These fees are given to miners as apart of the block reward.
Late 2017 when Bitcoin got up to $20,000USD, the average network fee was ~$50. Currently, at the time of writing this, the average network fee is $1.46. This data is available in real-time on BitInfoCharts.

Security

In this new era of money, there is no central bank or government you can go to in need of assistance. This means the responsibility of your money falls 100% into your hands. That being said, the security regarding your cryptocurrency should be impeccable. The anonymity provided by cryptocurrencies alone makes you a valuable target to hackers and scammers. Below I’ve detailed out best practices regarding securing your cryptocurrency.

Two-Factor Authentication (2FA)

Two-factor authentication is a second way of authenticating your identity upon signing in to an account. Most cryptocurrency related software/websites will offer or require some form of 2FA. Upon creation of any crypto-related account find the Security section and enable 2FA.

SMS Authentication

The most basic form of 2FA which you are probably most familiar with. This form of authentication sends a text message to your smartphone with a special code that will allow access to your account upon entry. Note that this is not the safest form of 2FA as you may still be vulnerable to what is known as a SIM swap attack. SIM swapping is a social engineering method in which an attacker will call up your phone carrier, impersonating you, in attempt to re-activate your SIM card on his/her device. Once the attacker has access to your SIM card he/she now has access to your text messages which can then be used to access your online accounts. You can prevent this by using an authenticator such as Google Authenticator.

Authenticator

The use of an authenticator is the safest form of 2FA. An authenticator is installed on a seperate device and enabling it requires you input an ever changing six digit code in order to access your account. I recommend using Google Authenticator.
If a website has the option to enable an authenticator, it will give you a QR code and secret key. Use Google Authenticator to scan the QR code. The secret key consists of a random string of numbers and letters. Write this down on a seperate sheet of paper and do not store it on a digital device.
Once Google Authenticator has been enabled, every time you sign into your account, you will have to input a six-digit code that looks similar to this. If you happen to lose or damage the device you have Google Authenticator installed on, you will be locked out of your account UNLESS you have access to the secret key (which you should have written down).

Hardware Wallets

A wallet is what you store Bitcoin and cryptocurrency on. I’ll provide resources on the different type of wallets later but I want to emphasize the use of a hardware wallet (aka cold storage).
Hardware wallets are the safest way of storing cryptocurrency because it allows for your crypto to be kept offline in a physical device. After purchasing crypto via an exchange, I recommend transferring it to cold storage. The most popular hardware wallets include the Ledger Nano S, and Trezor.
Hardware wallets come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key as well as any other sensitive information in a safety deposit box.
I know this all may seem a bit manic, but it is important you take the necessary security precautions in order to ensure the safety & longevity of your cryptocurrency.

Technical Aspects of Bitcoin

TL;DR
  • Address: What you send Bitcoin to.
  • Wallet: Where you store your Bitcoin
  • Max Supply: 21 million
  • Block Time: ~10 minutes
  • Block Size: 1-2 MB
  • Block Reward: BTC reward received from mining.

What is a Bitcoin Address?

A Bitcoin address is what you send Bitcoin to. If you want to receive Bitcoin you’d give someone your Bitcoin address. Think of a Bitcoin address as an email address for money.

What is a Bitcoin Wallet?

As the title implies, a Bitcoin wallet is anything that can store Bitcoin. There are many different types of wallets including paper wallets, software wallets and hardware wallets. It is generally advised NOT to keep cryptocurrency on an exchange, as exchanges are prone to hacks (see Mt. Gox hack).
My preferred method of storing cryptocurrency is using a hardware wallet such as the Ledger Nano S or Trezor. These allow you to keep your crypto offline in physical form and as a result, much more safe from hacks. Paper wallets also allow for this but have less functionality in my opinion.
After I make crypto purchases, I transfer it to my Ledger Nano S and keep that in a safe at home. Hardware wallets also come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key in a safety deposit box.

What is Bitcoins Max Supply?

The max supply of Bitcoin is 21 million. The only way new Bitcoins can be introduced into the economy are through block rewards which are given after successfully mining a block (more on this later).

What is Bitcoins Block Time?

The average time in which blocks are created is called block time. For Bitcoin, the block time is ~10 minutes, meaning, 10 minutes is the minimum amount of time it will take for a Bitcoin transaction to be processed. Note that transactions on the Bitcoin network can take much longer depending on how congested the network is. Having to wait a few hours or even a few days in some instances for a transaction to clear is not unheard of.
Other cryptocurrencies will have different block times. For example, Ethereum has a block time of ~15 seconds.
For more information on how block time works, Prabath Siriwardena has a good block post on this subject which can be found here.

What is Bitcoins Block Size?

There is a limit to how large blocks can be. In the early days of Bitcoin, the block size was 36MB, but in 2010 this was reduced to 1 MB in order to prevent distributed denial of service attacks (DDoS), spam, and other malicious use on the blockchain. Nowadays, blocks are routinely in excess of 1MB, with the largest to date being somewhere around 2.1 MB.
There is much debate amongst the community on whether or not to increase Bitcoin’s block size limit to account for ever-increasing network demand. A larger block size would allow for more transactions to be processed. The con argument to this is that decentralization would be at risk as mining would become more centralized. As a result of this debate, on August 1, 2017, Bitcoin underwent a hard-fork and Bitcoin Cash was created which has a block size limit of 8 MB. Note that these are two completely different blockchains and sending Bitcoin to a Bitcoin Cash wallet (or vice versa) will result in a failed transaction.
Update: As of May 15th, 2018 Bitcoin Cash underwent another hard fork and the block size has increased to 32 MB.
On the topic of Bitcoin vs Bitcoin Cash and which cryptocurrency is better, I’ll let you do your own research and make that decision for yourself. It is good to know that this is a debated topic within the community and example of the politics that manifest within the space. Now if you see community members arguing about this topic, you’ll at least have a bit of background to the issue.

What is Block Reward?

Block reward is the BTC you receive after discovering a block. Blocks are discovered through a process called mining. The only way new BTC can be added to the economy is through block rewards and the block reward is halved every 210,000 blocks (approximately every 4 years). Halving events are done to limit the supply of Bitcoin. At the inception of Bitcoin, the block reward was 50BTC. At the time of writing this, the block reward is 12.5BTC. Halving events will continue to occur until the amount of new Bitcoin introduced into the economy becomes less than 1 Satoshi. This is expected to happen around the year 2,140. All 21 million Bitcoins will have been mined. Once all Bitcoins have been mined, the block reward will only consist of transaction fees.

Technical Aspects Continued

Understanding Nodes

Straight from the Bitcoin.it wiki
Any computer that connects to the Bitcoin network is called a node. Nodes that fully verify all of the rules of Bitcoin are called full nodes.
In other words, full nodes are what verify the Bitcoin blockchain and they play a crucial role in maintaining the decentralized network. Full nodes store the entirety of the blockchain and validate transactions. Anyone can participate in the Bitcoin network and run a full node. Bitcoin.org has information on how to set up a full node. Running a full node also gives you wallet capabilities and the ability to query the blockchain.
For more information on Bitcoin nodes, see Andreas Antonopoulos’s Q&A on the role of nodes.

What is a Fork?

A fork is a divergence in a blockchain. Since Bitcoin is a peer-to-peer network, there’s an overall set of rules (protocol) in which participants within the network must abide by. These rules are put in place to form network consensus. Forks occur when implementations must be made to the blockchain or if there is disagreement amongst the network on how consensus should be achieved.

Soft Fork vs Hard Fork

The difference between soft and hard forks lies in compatibility. Soft forks are backwards compatible, hard forks are not. Think of soft forks as software upgrades to the blockchain, whereas hard forks are a software upgrade that warrant a completely new blockchain.
During a soft fork, miners and nodes upgrade their software to support new consensus rules. Nodes that do not upgrade will still accept the new blockchain.
Examples of Bitcoin soft forks include:
A hard fork can be thought of as the creation of a new blockchain that X percentage of the community decides to migrate too. During a hard fork, miners and nodes upgrade their software to support new consensus rules, Nodes that do not upgrade are invalid and cannot accept the new blockchain.
Examples of Bitcoin hard forks include:
  • Bitcoin Cash
  • Bitcoin Gold
Note that these are completely different blockchains and independent from the Bitcoin blockchain. If you try to send Bitcoin to one of these blockchains, the transaction will fail.

A Case For Bitcoin in a World of Centralization

Our current financial system is centralized, which means the ledger(s) that operate within this centralized system are subjugated to control, manipulation, fraud, and many other negative aspects that come with this system. There are also pros that come with a centralized system, such as the ability to swiftly make decisions. However, at some point, the cons outweigh the pros, and change is needed. What makes Bitcoin so special as opposed to our current financial system is that Bitcoin allows for the decentralized transfer of money. Not one person owns the Bitcoin network, everybody does. Not one person controls Bitcoin, everybody does. A decentralized system in theory removes much of the baggage that comes with a centralized system. Not to say the Bitcoin network doesn’t have its problems (wink wink it does), and there’s much debate amongst the community as to how to go about solving these issues. But even tiny steps are significant steps in the world of blockchain, and I believe Bitcoin will ultimately help to democratize our financial system, whether or not you believe it is here to stay for good.

Final Conclusions

Well that was a lot of words… Anyways I hope this guide was beneficial, especially to you crypto newbies out there. You may have come into this realm not expecting there to be an abundance of information to learn about. I know I didn’t. Bitcoin is only the tip of the iceberg, but now that you have a fundamental understanding of Bitcoin, learning about other cryptocurrencies such as Litecoin, and Ethereum will come more naturally.
Feel free to ask questions below! I’m sure either the community or myself would be happy to answer your questions.
Thanks for reading!

Related Links

Guides

Exchanges

submitted by MrCryptoDude to Bitcoin [link] [comments]

Neblio: Ahead of Roadmap and a Blockbuster Breakout in 2018

Neblio is a Proof of Stake (PoS) Blockchain as a Service (BaaS) platform designed and developed to provide enterprise solutions, which uses the Neblio token, NEBL. The Neblio blockchain is a fork of Novacoin, an older coin with origins in 2013, using the Script algorithm. The Neblio team is focused on simplicity within business adoption, starting with RESTful API integration. The Neblio APIs can be used to build applications, or integrated with existing ones, that interact with the Nebio blockchain by storing and accessing transactions and information.
Focus on Simplicity
The Nebio team's focus on simplicity is evident in their development to date. Neblio's Docker setup can be completed in less than one minute, and the Neblio Raspberry Pi wallet can be installed using a single command. Neblio offers an optional bootstrap of their blockchain, called QuickSync, which greatly reduces the time required to setup nodes. Every 24 hours, a compressed snapshot of the Neblio blockchain is uploaded to the team's Github, which is as secure as downloading the entire blockchain via network peers. In the event that blocks were modified by a bad actor, new blocks would be rejected and wouldn't be added onto the chain, resulting in no impact to Neblio's network security. QuickSync can greatly reduce the amount of time required to set up multiple Neblio nodes, as the blockchain would only be required to be downloaded once, rather than once per node. A Bootstrapped wallet setup is an established technology previously used, most notably, with Bitcoin.
Accelerated Roadmap Development
The Neblio roadmap is lofty, desiring to be a blockchain for "worldwide opportunities" and "bring blockchain to the mainstream". Their wide scope is tempered by a narrow focus -- on simplicity. The team is executing quickly, with little hype, and is AHEAD of their roadmap. They have completed multiple wallets, including Windows/MacOS/Linux staking core wallets,and the non-staking Electrum wallets. Coupled with Docker, and the low-energy Raspberry Pi staking wallet, Neblio offers a wide variety of wallet support for their blockchain. Recently, the Neblio team has announced the first API call on the Neblio blockchain, which was expected to occur in 1Q2018. Despite being early in the API development phase, the team once again demonstrated an aggressive attack on the roadmap, establishing confidence that they'll meet, and again succeed, their projected milestone date. Neblio will develop their open-source APIs in multiple languages, including Python, Go, JavaScript, Ruby, .NET, Java, and Node.js. One thing that is most impressive regarding the Neblio roadmap was the team's humble approach to improvement. Multiple instances in their roadmap reference iterative customer feedback and customer-driven design requirements. Additionally, Neblio makes mention in their roadmap of targeting small businesses, and not just Fortune 500 companies, which opens up a huge market that is often glossed over in cryptocurrency news articles. A market where, according to the US Government, small businesses make up 99.7% of United States employers, and almost half of private-sector output. The cryptocurrency market for platforms will not be limited to a single platform, as Ethereum, Lisk, Nem, NEO, EOS, Ardor, or Stratis will not meet the needs of every company looking for blockchain solutions. Marketing to potential clients will begin in 2Q2018, which will help to drive initial Neblio adoption. Execution will drive the long-term success in this space -- and the token price.
The Team
The Neblio team has experience with software development, with the co-founder and lead developer, Eddy Smith working for a Fortune 500 before his current role. The other founder, Ann has notable relevant experience in the space. In the ICO, the team opted not to set aside tokens for the team or future development, and purchased their own tokens to use instead, a decision that showed their dedication to the success of the project. All unsold tokens were burned. Additionally, the Neblio network was fully operational prior to the token sale date. NEBL tokens were immediately deposited to an address, at which point tokens could immediately be exchanged and staked. The Neblio team is growing, currently at four members, including a marketing advisor and developer. They are in a hiring process -- where they have been clear that they prize quality over quantity. The team is approachable, and are involved daily with the Neblio Slack.
Technical Discriminators
The Neblio network offers 10% yearly staking rewards. This is very good, especially considering traditional investments. The high reward locks up assets, encourages holding, and decreases token velocity which influences the long-term, realized, value of tokens. The 10% staking is a true technical and economic discriminator for the blockchain.
Neblio's scalable transactional throughput is ~20-35 Tx/sec, which is superior to Ethereum and Bitcoin.
And lastly, the narrow focus of completing the RESTful APIs allows the team to capitalize on doing a single thing well, reducing the risk (including development costs), while allowing for future expansion of their blockchain, like to sidechains or other developing technologies.
Token Mechanics
Neblio has a very low circulating and total supply, 12.6M and 13.3M, respectively. A large number of the tokenholders stake their tokens on the network, which further reduces liquidity and can result in high volatility and significant price fluctuations. However, this does add a significant upside to the existing price. For example, if Neblio had the market cap of Ardor, a token outside of the top 25, each Neblio token would be $70. It's been clear in the past year that platforms demand a premium, where most of the top tokens by marketcap are platforms, including Ethereum, Lisk, Nem, NEO, EOS, and Stratis. The highest volume of Neblio can be found on the Cryptopa exchange, with other markets found on Kucoin, HitBTC, and OEX. Neblio did very strongly in a Binance voting, and despite strong rumors, hasn't been listed there yet.
Neblio is set apart by their narrow focus to create a working product with simplicity as a design consideration from the beginning. Their small token supply and 10% staking rewards create a strong incentive for tokens to be accumulated, which can generate economic benefits for existing token holders. Neblio has multiple catalysts in 2018, which if successful, will propel this blockchain into the public eye.
Disclosure: I am/we are long NEBL, STRAT.
I wrote this post myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any coin/platform that is mentioned in this post.
submitted by XCBatman to CryptoCurrency [link] [comments]

Atomic Swap with USDT: Swap Online solution in two hundred lines of code

Atomic Swap with USDT: Swap Online solution in two hundred lines of code
https://preview.redd.it/3mx7amtio9g11.png?width=696&format=png&auto=webp&s=f2bd956843196fa2f51048a86f9608b6e714f62e
On the eve of the release on the mainnet, the team of the cross-chain wallet Swap Online is publishing a research study and the code of the atomic swapusing USDT.

USD Tether — the equivalent of the dollar on Omni Layer

The solution described above with the protocol “over” the Bitcoin network gave life to one of the most controversial cryptocurrency projects of the last two years — Tether. Tether (symbol Tether — ₮, ticker — USDT) is a hybrid cryptocurrency with a rate binding to one US dollar. Moreover, according to the assurances of Tether Limited, the issuer of the given tokens, the “binding” is to be understood literally, as each purchased token of USDT corresponds to one US dollar available at the disposal of the company.
If we take the three largest exchanges based on their daily turnover of transactions at the time of writing (Binance, OKEx and HuObi), and then track the five most popular trading pairs for each, we will encounter USDT in 13 out of 15 cases.

USDT — the token with the largest capitalization in the world.

All this generates great community interest in faster, safer and cheaper solutions for exchanging Tether into other currencies. Obviously, such a solution could be atomic swaps, which are instant, decentralized cross-chain exchanges. The Komodo laboratory, the main headliners of this technology, who presented it in the autumn of 2017, reported on the successful exchange of KMD to USDT carried out on the BarterDEX platform, Komodo’s own exchanger.
https://preview.redd.it/z7tx3cv0p9g11.png?width=597&format=png&auto=webp&s=f0944434f691d69ae45c5b80e00fed2736423f7a
At the same time, according to our data, the developers of Komodo made a swap on the ERC20-a version of Tether, which is only available in 3% of cases. Approximately 60 million USDT from global turnover can thus be exchanged using this method, which, obviously, cannot be considered as a solution to the problem. Striking examples of imperfections of existing solutions can be found even on Etherscan.
https://preview.redd.it/39nc2ji6p9g11.png?width=800&format=png&auto=webp&s=992a4adc022175d90d111f030047ba8adeda14f8
This fall, the team of Swap Online is ready to present an atomic swap with Tether. And here’s how we did it.

How Omni conducts transactions

To carry out the Omni transaction, a user needs to create a regular Bitcoin transaction-transfer of 546 satoshi (minimum) with an additional output storing payload using the OP_RETURN op-code. An example of such a transaction. The payload is a mandatory part of any Omni transaction, as it is a sequence of bytes containing all the necessary information about the transaction.

Let us consider what information is stored in the payload itself

transaction marker — 4 bytes, the mandatory part of any Omni payload is always equal to 0x6f6d6e69 — ASCII code omni. If the first 4 bytes of the sequence are not equal to 0x6f6d6e69, then this sequence is not a payload of Omni.
version — 2 bytes, an analog version of the transaction in Bitcoin. For the described algorithm to work, version 0 is used, or that is the same as 0x0000.
transaction type — 2 bytes, transaction type, for an atomic swap it is sufficient to use only “Simple send” transactions, as simple send is the usual sending of omni currency from its address to the address of the recipient. Simple send corresponds to the transaction type code 0, that is, the next 2 bytes 0x0000. Other possible types of transactions exist in Omni.
token identifier — 4 bytes, identifier of the currency used. For example TetherUS has the identifier 31 or 0x0000001f. All tokens created by the Omni protocol at this time can be seen via the following link.
amount — 8 bytes, for a transaction of type Simple send, this is the amount of the sent currency.
As you can see, payload does not store the addresses of senders and recipients of the transactions, these addresses are determined by the Bitcoin transaction in which the payload output was detected. By scanning inputs, the Omni protocol determines who makes the transfer by finding the output of the corresponding address from among the inputs of the transaction p2pkh.
Thus, for a transfer from Alice to Bob of, for example, 50,000,000 TetherUS, we need to create a Bitcoin transaction where one of the inputs will refer to the p2pkh output corresponding to the Alice address. It is also important that this entry be the first in this transaction (the index of this entry in the received transaction would be is minimal or none at all). One of the outputs of this transaction should be the output of p2pkh to Bob’s address, and another output must have been one of the outputs with the following payload:
https://preview.redd.it/0kmuzds8p9g11.png?width=575&format=png&auto=webp&s=af2f496596684af18091fb044f4e20b7e546c32f
Example 1
Example 2

Atomic Swap on Omni Layer

Suppose that Alice and Bob are willing to make an inter-blockchain exchange of cryptocurrencies. Alice wants to exchange the units of any Omni currency, for example TetherUS (the given currency has the currency identifier # 31 in the Mainnet, then in the text we will only talk about this currency of the Omni protocol, since it is the most popular at the moment, but the algorithm below will work for any currency of the Omni protocol as well) for b units of a cryptocurrency working on another blockchain. (Omni works on top of the Bitcoin blockchain, of course, according to the algorithm below it is possible to exchange TetherUS for Bitcoins, but due to their work on one and the same blockchain, this exchange can be done in a different, more efficient way).

Glossary

A — blockchain of Bitcoin.
B — the blockchain of the cryptocurrency for which TetherUS is being exchanged.
a — the sum of TetherUS, which Alice wants to exchange.
b — the sum of the cryptocurrency of the adjoining blockchain B, to which Alice wants to exchange her a TetherUS.

Creating a Transaction

1) Bob generates a random value secret.
2) Bob calculates the secretHash by performing the following operation: secretHash = RIPEMD160 (secret)
3) Bob creates and sends an htlc transaction sealed by secretHash
4) Bob sends Alice a secretHash value, and a hash of the hrlc transaction he created in the previous paragraph in order for Alice to make sure that the correct htlc transaction is actually present in the B blockchain.
5) Alice received from Bob the secretHash and hash of the htlc-transaction Bob created, and is convinced that such a transaction is really present in the B blockchain, and that this is indeed a htlc-transaction sealed by the secretHash value.
6) using the received secretHash, Alice creates the following transaction and translates it into the Bitcoin blockchain:
https://preview.redd.it/oxri5a7gp9g11.png?width=735&format=png&auto=webp&s=14e88db4fc4d1743406939343d42e33352b05782
Let us call such a transaction financing_tx. In fact, it is almost an ordinary Bitcoin htlc transaction that is used in atomic swap with the only difference that in the amount field, 546 satoshi is the minimum number of Bitcoins that can be at the output of the transaction, below this value, Bitcoin counts the transaction as dust and does not conduct it.
7) Alice creates a transaction according to the following scheme:
https://preview.redd.it/awz9uzuhp9g11.png?width=1000&format=png&auto=webp&s=9ca79e77ca6aff631a39ae95dfaa70aa06d695ec
Let us call this transaction redeem_tx. Alice creates such a transaction with two inputs: the first is the input referencing the output of funding_tx, which contains the htlc script. Alice does not sign this script, that is, the SigScript field remains completely empty. The second input is the input referring to any unspent exits of Alice, the main condition is that at this output stage there are enough Bitcoins to pay the transaction fee, and this entry is signed by Alice with her private key with the signature type SIGHASH_ALL (that is, she signs the entire transaction except for SigScript fields on the inputs transaction, which makes this transaction immutable. The outputs of the same transaction are the elementary Simple Send and a TetherUS from Alice to Bob (details of what Simple Send, payload is and how it works can be found in another section).
8) Alice sends Bob the redeem_tx created in the previous paragraph and the one she signed herself.
9) Bob got the redeem_tx sent by Alice, checks it, just looks through the inputs and outputs, making sure that this is really a transaction that Alice should have created using the real algorithm. After that, Bob signs the transaction with his private key and provides the secret value in the SigScript of the corresponding redeem_tx entry.
10) Bob sends the signed redeem_tx transaction to the blockchain, thereby transferring the TetherUS currency from Alice to himself. Note — before carrying out this step, we still need to check that Alice’s address has the necessary amount of TetherUS.
11) Alice looks through blockchain A and gets the value secret and uses it in the B blockchain to transfer the funds using the htlc transaction Bob created in point 3. The exchange ends here.
Stating the obvious: naturally the timelock value used by Bob when creating the htlc-transaction must be significantly longer than the timelock that Alice uses, since her htlc transaction should be spent earlier than the htlc created by Bob. This is necessary so that Bob cannot manage to spend both htlc.

Conclusion

Thus, connecting Omni Layer to Swap Online allows users to cover transactions.

Full research you may find in our Github

C++ source code for creating TX
C++ source code for redeem TX

Swap.Online Essential Links

Website: https://testnet.swap.online GitHub: https://github.com/swaponline Email: [email protected] Telegram: https://t.me/swaponline Facebook: https://www.facebook.com/Swaponline Twitter: https://twitter.com/SwapOnlineTeam Wiki: https://wiki.swap.online/ Bitcointalk: https://bitcointalk.org/index.php?topic=4636633
submitted by noxonsu to SwapOnline [link] [comments]

Subreddit Stats: Bitcoin posts from 2018-10-09 to 2018-10-16 19:41 PDT

Period: 7.10 days
Submissions Comments
Total 765 10226
Rate (per day) 107.80 1494.28
Unique Redditors 596 3440
Combined Score 31658 33963

Top Submitters' Top Submissions

  1. 4526 points, 1 submission: Alexsayzz
    1. Anti-crypto propaganda... promoted by American Express (4526 points, 513 comments)
  2. 2391 points, 2 submissions: MoonMan_666
    1. Someone just paid $0.10 to move $194M (29,999 BTC). Think about how powerful that is for a second. (2369 points, 380 comments)
    2. Dev sends Bitcoin without using the web or the power grid (22 points, 4 comments)
  3. 2077 points, 1 submission: _Logicrypto
    1. When your boss thanks you for staying late at work but you were just watching the Bitcoin price and lost track of time (2077 points, 69 comments)
  4. 1496 points, 1 submission: bitbug42
    1. ⚡Lightning Network at the Senate - Counterargument to Roubini's speech that Bitcoin can never scale to serve the planet (1496 points, 186 comments)
  5. 1417 points, 1 submission: opencoins
    1. Why sell and pay capital gains, why not wait for mass adoption? That's my motto. (1417 points, 244 comments)
  6. 1174 points, 1 submission: awertheim
    1. Took a while but finally part of the picture club (had to wait on the web browser update!) (1174 points, 127 comments)
  7. 853 points, 1 submission: Hodl_it
    1. Feeling good? (853 points, 215 comments)
  8. 833 points, 1 submission: cointastical
    1. Bitcoin ATM operator gets the $62,500 that police confiscated back (833 points, 110 comments)
  9. 802 points, 2 submissions: JandyJammer
    1. Congratulations US senators for understanding crypto better than this guy (748 points, 125 comments)
    2. How is Bitmex the biggest exchange... total joke. I hope their competitors crush them. (54 points, 49 comments)
  10. 704 points, 1 submission: lesbiansareoverrated
    1. ...in case you missed the laura shill burn today (704 points, 100 comments)
  11. 512 points, 5 submissions: castorfromtheva
    1. Mycelium wallet will FINALLY get segwit! "This month" as stated by Mycelium developers on 9 October 2018. Glad to hear! I am excited. (312 points, 136 comments)
    2. Just saw it on their website: Ledger Nano S 20% off, directly from manufacturer! For six days, starting today. Just in case you consider getting a hardware wallet. (146 points, 84 comments)
    3. Newsflash: Bitfinex Unveils ‘Distributed Banking Solution,’ Resumes Fiat Deposits (44 points, 8 comments)
    4. Binance Uganda Launch 80% Ready As Users Can Now Sign Up: Deposits & Trading Coming Soon (8 points, 1 comment)
    5. Article: "Cryptos at a turning point", trustnodes.com (2 points, 0 comments)
  12. 510 points, 4 submissions: eddieweng
    1. Someone moved 12,220 BTC ($82M) in block 545,877 (393 points, 180 comments)
    2. Someone moved 22,200 BTC ($139M) in block 545,243 (90 points, 38 comments)
    3. CoinMarketBull – CoinMarketCap, but with a different metric (26 points, 4 comments)
    4. holdernews - trending stories on bitcointalk (1 point, 0 comments)
  13. 387 points, 1 submission: StoneHammers
    1. We are three months away from Bitcoins 10 year anniversary. (387 points, 39 comments)
  14. 366 points, 3 submissions: TrackCoinMarket-com
    1. Citizens of Venezuela have turned to Bitcoin and gold farming in online games to survive the country’s economic collapse. (365 points, 60 comments)
    2. Zambian Central Bank Declares Bitcoin Is Not Legal Tender (1 point, 7 comments)
    3. Bitcoin is Maturing, Crypto Growth Surprisingly Positive Reveals Study (0 points, 3 comments)
  15. 358 points, 1 submission: musicfan39
    1. Bitcoin all-time price graph (Aug 2010 – Oct 2018) (358 points, 84 comments)
  16. 311 points, 5 submissions: TheGreatMuffin
    1. Bitfinex' statement on fiat deposits/withdrawals (tldr: fiat and crypto withdrawals working, fiat deposits temporarily paused) (103 points, 52 comments)
    2. Bitfinex suspends all fiat deposits, “expects the situation to normalize within a week” (78 points, 62 comments)
    3. Fidelity gives a nod to OG cypherpunks (mentioning Adam Back, Nick Szabo, David Chaum) and bitcoin's precursors in their newest blog post (78 points, 0 comments)
    4. full video of the US Senate hearing on cryptocurrency: with P. Van Valkenburgh and N. Roubini as witnesses (starts at minute 16) (31 points, 5 comments)
    5. Interview with one of the creators of the Samourai wallet (21 points, 1 comment)
  17. 305 points, 1 submission: 6maud
    1. Jamie Dimon: Bitcoin is a scam. Also Jamie Dimon: Let's file 20 blockchain patents so we don't miss out on this blockchain thing. facepalm (305 points, 93 comments)
  18. 274 points, 2 submissions: undertheradar48
    1. $6.9 trillion of assets just got access to the world of crypto! (169 points, 24 comments)
    2. 1.65 Million people are attending over 5,000 Bitcoin meetups around the world. Organic interest/curiosity is real! (105 points, 41 comments)
  19. 265 points, 1 submission: NoGooderr
    1. Shorters, are you okay? (265 points, 123 comments)
  20. 253 points, 5 submissions: _smudger_
    1. Bakkt CEO: We're About To See A Cryptocurrency Revolution (130 points, 29 comments)
    2. Our team, launch and advocacy – Bakkt Blog – Medium (104 points, 33 comments)
    3. Coinbase's Adam White is joining Bakkt as its COO - The Block (16 points, 1 comment)
    4. The Bright Side of the 2018 Bitcoin Bear Market – Wes Carlson – Medium (2 points, 0 comments)
    5. Analysis: ErisX & Bakkt Are All in on the Battle for Institutional Cash (1 point, 0 comments)
  21. 247 points, 1 submission: Fly115
    1. It would be impossible for every Fidelity brokerage customer to own even one Bitcoin. This is why Bitcoins are worth thousands of dollars, while a dollar is only worth one dollar (and only until next year when when it's worth 97 cents). - Erik Voorhees (247 points, 129 comments)
  22. 237 points, 1 submission: manfromnantucket1984
    1. Bear markets are for building! 🐻⚡ While the price is doing what it does, we continue to build the #LightningNetwork at the #LightningHackdayNYC in New York on October 27th/28th 2018. Speakers like Christian Decker, Matt Corallo and Peter Todd will take you down the rabbit hole. (237 points, 15 comments)
  23. 232 points, 1 submission: TheMidnightMatinee
    1. Guys lets rally and show your support for an BTC ETF! Here's why! (232 points, 63 comments)
  24. 231 points, 2 submissions: installeris
    1. Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies (169 points, 36 comments)
    2. Nouriel Roubini has always been talking sh*t about Bitcoin. And he's always wrong. (62 points, 29 comments)
  25. 226 points, 1 submission: lewtr
    1. An easter egg in the Bitcoin genesis block code (226 points, 40 comments)
  26. 218 points, 1 submission: Unusual_Mountain
    1. Bitcoin as a safe haven from monetary policy can help keep governments and banks honest. It doesn't have to replace them. (218 points, 85 comments)
  27. 214 points, 1 submission: Mobilenewsflash
    1. Roubini (214 points, 50 comments)
  28. 212 points, 1 submission: CardCollector1
    1. Getting Started with BTCPay Server - Free and Open Source Bitcoin and Lightning Network payment processor (212 points, 75 comments)
  29. 201 points, 1 submission: yonstonston
    1. Sorry guys, i bought BTC yesterday... (201 points, 72 comments)
  30. 161 points, 2 submissions: linzex
    1. A Bitcoin Lesson From A Yogi Master (93 points, 6 comments)
    2. ChangeNow Exchange Accused of $70,000 Theft (68 points, 8 comments)
  31. 159 points, 3 submissions: zappadoing
    1. greetings from holidays - I thought I won't have to read anything about bitcoin this time... (130 points, 12 comments)
    2. Telegram down! Lots of Bitcoin-Groups not accessible. We need something decentralized. (19 points, 26 comments)
    3. Colleges Are Baffled by Bitcoin Donations (10 points, 0 comments)
  32. 159 points, 1 submission: Crevative
    1. Zimbabwe spirals into economic chaos as fears of another round of hyperinflation begin to spark - another fiat currency fails! (159 points, 20 comments)
  33. 147 points, 1 submission: lexihayes99
    1. Just wanted to remind people of a simpler time :) (147 points, 196 comments)
  34. 146 points, 1 submission: Rare_Ad
    1. Bitcoin was a tool that was born of the economic crisis some 10 years ago, does that mean another big recession or banking collapse could catapult it forward? (146 points, 87 comments)
  35. 146 points, 1 submission: vmrey
    1. Buda, the largest crypto exchange by volume in Chile, is one of the first to incorporate Lightning network. (146 points, 14 comments)
  36. 145 points, 1 submission: wwwdata
    1. I own crypto but not Bitcoin. (145 points, 243 comments)
  37. 141 points, 9 submissions: expertbit
    1. This E-Bike Accepts Payments With Bitcoin's Lightning Network (51 points, 3 comments)
    2. Bitcoin [BTC] transfers will become a lot faster with Liquid Network, says Jimmy Song (37 points, 58 comments)
    3. Top Universities Are Now Investing in Cryptocurrency Funds (18 points, 0 comments)
    4. Indian Exchange Unocoin Could Launch Crypto ATMs (17 points, 0 comments)
    5. Bitcoin Price Stability -- A Bullish Or Bearish Sign? (15 points, 1 comment)
    6. Don’t Underestimate China’s Power In Bitcoin (2 points, 3 comments)
    7. Bitcoin Price Analysis: Bulls Defend Yearly Support Amidst Wall Street Slump (1 point, 0 comments)
    8. Bitcoin Network Comes To A Standstill In China (0 points, 2 comments)
    9. Bitcoin Price Jumps by $600 to Reach One-Month High Above $6.9k (0 points, 0 comments)
  38. 137 points, 1 submission: diditmakesound
    1. Everyone still buying right now (137 points, 30 comments)
  39. 135 points, 1 submission: gattacibus
    1. POLONIEX suspends Bitcoin withdrawals (135 points, 86 comments)
  40. 129 points, 3 submissions: nopara73
    1. Wasabi Wallet added OSX support. Please consider testing it. (55 points, 25 comments)
    2. Scoring Bitcoin Wallets (38 points, 25 comments)
    3. A Technical Overview of Wasabi Wallet, Future Ideas, Plans and Strategy (36 points, 1 comment)
  41. 123 points, 1 submission: Big_Bluefin
    1. Live from Fremont Street in Las Vegas (123 points, 20 comments)
  42. 121 points, 1 submission: agustinf
    1. Latin American Exchange Buda.com adds Lightning Network payments for all. (121 points, 17 comments)
  43. 118 points, 2 submissions: TheCrunk1
    1. Fidelity launches new company for trading, storing cryptocurrencies (98 points, 26 comments)
    2. Binance launches fiat-to-crypto exchange in Uganda (20 points, 7 comments)
  44. 112 points, 1 submission: Thinkmoreaboutit
    1. "Over the weekend I sent a bitcoin transaction to a relay 12.6km away with no cell network or internet connection. Here's a tweetstorm about how I used @gotenna and @SamouraiWallet to do it" [email protected] (112 points, 20 comments)
  45. 111 points, 1 submission: Jackieknows
    1. When it comes to your coins, keep it quiet. – Trezor Blog (111 points, 10 comments)
  46. 110 points, 1 submission: 100ravp
    1. Someone solved the 310.00 BTC challenge (110 points, 87 comments)
  47. 110 points, 1 submission: loulan
    1. There was an attempt (110 points, 78 comments)
  48. 106 points, 1 submission: king-only
    1. Breez, a Lightning Network mobile client, is now fully open sourced (106 points, 19 comments)
  49. 101 points, 2 submissions: HodlingToTheMoon
    1. Websites using Joomla (second most popular platform after Wordpress), can now be enabled with Bitcoin payments - In less than 5 min! (98 points, 5 comments)
    2. Got business on your mind? Here are 7 easy and genuine ideas to start a Bitcoin-centric e-commerce store! (3 points, 0 comments)
  50. 98 points, 1 submission: ubunt2
    1. Fidelity Starts Crypto Unit to Serve Wall Street Customers (98 points, 4 comments)
  51. 97 points, 1 submission: CosmicHemorroid
    1. Lightning Powered E-bike #Reckless (97 points, 22 comments)
  52. 96 points, 3 submissions: DesignerAccount
    1. Bitcoin is all grown up! (83 points, 6 comments)
    2. [Bitcoin OpSec - Keep your coins safe] Detailed breakdown of sophisticated scam (12 points, 6 comments)
    3. Infographic - How do UTXOs work? (1 point, 0 comments)
  53. 96 points, 1 submission: bowlingfries
    1. Bitcoin kiosk in Portland OR weed dispensary (96 points, 21 comments)
  54. 94 points, 1 submission: nassimmontreal
    1. #roubinilovescrypto (94 points, 37 comments)
  55. 92 points, 2 submissions: ella11price
    1. Selling goods and items for Bitcoin should be easy. I built a marketplace similar to eBay so people can sell anything for crypto. This video explains it. (91 points, 63 comments)
    2. The best ways to earn bitcoin and cryptocurrency. Includes how to spot a scam (1 point, 0 comments)
  56. 91 points, 1 submission: ytcoinartist
    1. The Golden Pineapple, a 3D combination puzzle for all ages and free to play. Be the first to solve the final level and win 1 BTC, courtesy of The Pineapple Fund. http://pineapplearcade.net/arcade-game/pineapple (91 points, 25 comments)
  57. 89 points, 1 submission: Rachsuchtig
    1. An BTC ATM at Austria/Salzburg Shopping Arena, totally surprised to see (89 points, 11 comments)
  58. 87 points, 2 submissions: Ishan1121
    1. Bitcoin proves once again its the best way to transfer money! $194 million transferred for 10 cents. (87 points, 18 comments)
    2. Discussion: So Bitcoin rises as fake news on Binance delisting Tether (USDT) goes viral...removing Tether completley will affect the market positively? THoughts? (0 points, 6 comments)
  59. 87 points, 1 submission: Blixx87
    1. I finally figured it out! We have been forming a Dorito Pattern and it’s on it’s way to the cheese dip. (87 points, 49 comments)
  60. 86 points, 8 submissions: EffigyBoy
    1. Venezuelans Play RuneScape To Make Small Profit In Bitcoin (31 points, 4 comments)
    2. CFTC Chair On Bitcoin Expansion: "We Are Seeing More Institutional Movement Into This Area" (26 points, 0 comments)
    3. The Indian Government is Considering to Launch Its Own Cryptocurrency to Avoid Citizens Using Bitcoin (13 points, 14 comments)
    4. The Congress Is Groping In The Dark To Handle Cryptocurrencies. Bitcoin has come into the mainstream. (6 points, 0 comments)
    5. After Stock Markets Plunge Cryptocurrency Whale Dumps over 22 100 BTC (5 points, 11 comments)
    6. Scientific Journal 'Chaos' Favors Bitcoin – As stable as Oil and Dollar Markets (2 points, 1 comment)
    7. The First Physical Cryptocurrency Store in The U.S. Launches on October 20 (2 points, 1 comment)
    8. Omniex and Gemini Struck A Partnership to Support Institutional Investors (1 point, 0 comments)
  61. 85 points, 2 submissions: jakesonwu
    1. Release - Eclair v0.2-beta7 - Compatible with Bitcoin Core 0.17.0 (75 points, 8 comments)
    2. Lord Keynes Would Be Proud (10 points, 1 comment)
  62. 84 points, 2 submissions: renepickhardt
    1. ECDSA is not that bad: two-party signing without Schnorr or BLS (by Stepan Snigirev) (53 points, 7 comments)
    2. Last week in Lightning Network: A weekly collection of lightning network (and related) news on Twitter (31 points, 6 comments)
  63. 83 points, 3 submissions: OldCarpet54
    1. [GIVEAWAY] Crypto Invest Summit – Wozniak, Gupta, Morehead (82 points, 1 comment)
    2. blockchain news: from SF Blockchain Week and XBlockchain (1 point, 0 comments)
    3. Buterin | SpankChain | Kambria: San Francisco Blockchain Week (0 points, 0 comments)
  64. 83 points, 1 submission: -elektro-pionir-
    1. AMA with Bitcoin engineer Jameson Lopp (83 points, 21 comments)
  65. 80 points, 3 submissions: ysangkok
    1. Bitcoin script discussion at Scaling Bitcoin: "Sporks are probabilistic soft-forks [...] where instead of [...] version bits if the blockhash has some [...] PoW below some threshold, it activates. [...] [E.g.] you have an expectation of 6 months to get your shit together. Doing it live." (28 points, 3 comments)
    2. Multi-Hop Locks for Secure, Privacy-Preserving and Interoperable Payment-Channel Networks (27 points, 8 comments)
    3. Scaling Bitcoin Kaizen - Scriptless scripts, adaptor signatures and their applications (25 points, 2 comments)
  66. 78 points, 3 submissions: mkuraja
    1. What's the difference between Lightning Network and Liquid Network? (57 points, 41 comments)
    2. Need some fresh, new FOMO in your life? Reenter, Trace Mayer. (15 points, 1 comment)
    3. This American tourist thought I'd see "Bitcoin Accepted Here" all over Tokyo, Japan but not one place found yet. (6 points, 17 comments)
  67. 77 points, 1 submission: Miladran
    1. Fidelity Says It Will Trade Bitcoin for Hedge Funds (77 points, 1 comment)
  68. 77 points, 1 submission: pandaman200
    1. Swiss Crypto Fund Obtains Country’s First Crypto Asset Management License (77 points, 4 comments)
  69. 75 points, 3 submissions: mickhick95
    1. I purchased a goTenna to broadcast my BTC transactions with TxTenna and Samourai Wallet. (44 points, 15 comments)
    2. I saw a Bitcoin ATM and I had to make a purchase. (28 points, 41 comments)
    3. 303-ish Days in the BTC Bear Market, This Sideways Motion Looks Like A Turn Around!!! (3 points, 16 comments)
  70. 75 points, 1 submission: hcarpach
    1. Venezuelan cryptocurrency miner: “we are police’s most wanted” (75 points, 21 comments)
  71. 73 points, 6 submissions: WorkCoin_Team
    1. “Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wui (66 points, 14 comments)
    2. Revolution of Bitcoin (5 points, 3 comments)
    3. A Funny Bitcoin Thought (2 points, 20 comments)
    4. Getting started with Bitcoin (0 points, 1 comment)
    5. Make your foundation strong (0 points, 0 comments)
    6. What are you not willing to compromise? (0 points, 6 comments)
  72. 73 points, 1 submission: ozdixon
    1. Bitcoin accepted at a absenth bar in Prague. (73 points, 11 comments)
  73. 72 points, 1 submission: Itasia
    1. What Are Atomic Swaps? Ultimate Guide (72 points, 16 comments)
  74. 71 points, 1 submission: MannyAndDrChurchShow
    1. I wonder if they would still honor this card.... (71 points, 9 comments)
  75. 68 points, 4 submissions: grittygatorr
    1. Liquid Network - the world’s first production Bitcoin sidechain has officially gone live (65 points, 100 comments)
    2. XDEX Advertises Commission-Free Bitcoin Trading in Brazil (2 points, 0 comments)
    3. Coinfloor to Cut on Staff and Reorganize Amid Volume Fluctuations in the Crypto Markets (1 point, 0 comments)
    4. Barclays Temporarily Suspends Work on Cryptocurrency Trading Project (0 points, 1 comment)
  76. 68 points, 1 submission: WouterGlorieux
    1. Introducing 'The Bitcoin Spellbook': an open-source REST API server for the back-end of (almost) any Bitcoin application. (Think of it as your own IfThisThenThat server but for Bitcoin) (68 points, 3 comments)
  77. 67 points, 1 submission: Vaultoro_official
    1. Leading up to the LightingNetwork Hackathon in NY, I thought I would post the talks we filmed at the Berlin lightningHackDay. Some amazing talks! (67 points, 1 comment)
  78. 65 points, 1 submission: Komodor123
    1. Do you speak more than one language? Then help spread Bitcoin around the world by translating Bitcoin.org! (65 points, 28 comments)
  79. 63 points, 1 submission: Sandiegosurf1
    1. Fidelity Launches Institutional Crypto Trading and Clearing. Let the institutional money flow! (63 points, 1 comment)
  80. 63 points, 1 submission: TearAnus-SoreAssRekt
    1. Buying PC Games With Bitcoin: Site Reviews (with some accepting Lightning!) (63 points, 7 comments)
  81. 62 points, 1 submission: CryptoCloaks
    1. We finally got our RaspiBlitz case to a level we love! Time for load testing to check thermals, final mods are almost done! (62 points, 10 comments)
  82. 61 points, 1 submission: sagiher
    1. #Liberte#CaribbeanBitcoin#ShoutOutToAllBitcoinDeveloperOutThere (61 points, 9 comments)

Top Commenters

  1. PragmaticParadox (465 points, 7 comments)
  2. ikarienator (462 points, 1 comment)
  3. Hanspanzer (434 points, 106 comments)
  4. Toyake (434 points, 71 comments)
  5. uglymelt (394 points, 3 comments)
  6. UsherTechs (377 points, 1 comment)
  7. isdudu (345 points, 4 comments)
  8. TyroneTheDriver (307 points, 1 comment)
  9. Rattlesnake_Mullet (296 points, 11 comments)
  10. andycam7 (282 points, 3 comments)
  11. dmdeemer (275 points, 1 comment)
  12. BTCkoning (266 points, 114 comments)
  13. CP70 (257 points, 7 comments)
  14. ascension8438 (239 points, 7 comments)
  15. Fly115 (226 points, 9 comments)
  16. haribo_2016 (220 points, 4 comments)
  17. dsmid (214 points, 1 comment)
  18. i_gotta_say (208 points, 87 comments)
  19. TheGreatMuffin (206 points, 56 comments)
  20. ebaley (198 points, 34 comments)
  21. bitsteiner (185 points, 86 comments)
  22. Redditridder (181 points, 5 comments)
  23. KupKhunKrap (173 points, 36 comments)
  24. 45sbvad (169 points, 3 comments)
  25. c3corvette (165 points, 2 comments)
  26. killerstorm (163 points, 8 comments)
  27. evilgrinz (158 points, 48 comments)
  28. chronic_nervosa (140 points, 1 comment)
  29. bigdaddysdick (136 points, 7 comments)
  30. castorfromtheva (129 points, 27 comments)
  31. Touchmyhandle (125 points, 12 comments)
  32. Euphoricsoul (122 points, 1 comment)
  33. WaterMac27 (122 points, 1 comment)
  34. DSXIII (118 points, 1 comment)
  35. RIMS_REAL_BIG (117 points, 24 comments)
  36. cryptogrip (112 points, 39 comments)
  37. WalterRyan (108 points, 10 comments)
  38. sudophant (107 points, 5 comments)
  39. NotSeeTroll (104 points, 37 comments)
  40. deadleg22 (104 points, 10 comments)
  41. shared_makes_it_real (103 points, 26 comments)
  42. alexiglesias007 (103 points, 7 comments)
  43. Buttoshi (102 points, 68 comments)
  44. flunderbossanova (102 points, 59 comments)
  45. lexihayes99 (101 points, 28 comments)
  46. mabezard (101 points, 2 comments)
  47. peniswithahoodie (98 points, 1 comment)
  48. beloboi (96 points, 65 comments)
  49. vovr (89 points, 3 comments)
  50. segells4soulsmogoblo (89 points, 1 comment)
  51. damchi (87 points, 21 comments)
  52. smadgerano (81 points, 14 comments)
  53. time_wasted504 (80 points, 34 comments)
  54. joeknowswhoiam (80 points, 16 comments)
  55. diydude2 (79 points, 26 comments)
  56. sQtWLgK (79 points, 17 comments)
  57. 989x4000 (78 points, 22 comments)
  58. sreaka (78 points, 16 comments)
  59. YoungScholar89 (78 points, 6 comments)
  60. Ellipso (76 points, 2 comments)
  61. HitsABlunt (76 points, 1 comment)
  62. almkglor (75 points, 39 comments)
  63. MrRGnome (75 points, 37 comments)
  64. Daddeus65 (75 points, 28 comments)
  65. whalecheetah (75 points, 25 comments)
  66. BCash_BeTrash (75 points, 23 comments)
  67. cipher-space (75 points, 19 comments)
  68. bnuttall (72 points, 2 comments)
  69. chrisrico (71 points, 26 comments)
  70. esdraelon (71 points, 8 comments)
  71. ale1ormont (71 points, 2 comments)
  72. igadjeed (70 points, 42 comments)
  73. Holographiks (70 points, 19 comments)
  74. frankieboy07 (70 points, 2 comments)
  75. snazzycoins (69 points, 12 comments)
  76. dmar198 (69 points, 11 comments)
  77. protoman86 (69 points, 7 comments)
  78. bitbug42 (68 points, 5 comments)
  79. CardCollector1 (66 points, 16 comments)
  80. hawks5999 (66 points, 7 comments)
  81. DefiantVerse (65 points, 12 comments)
  82. psionides (65 points, 8 comments)
  83. btc-forextrader (64 points, 37 comments)
  84. UniqueNewQuark (63 points, 5 comments)
  85. imaducksfan (63 points, 1 comment)
  86. bitusher (62 points, 23 comments)
  87. homad (62 points, 13 comments)
  88. torbitonsa (62 points, 7 comments)
  89. violencequalsbad (62 points, 7 comments)
  90. wwwdata (61 points, 20 comments)
  91. LadyRosedancer (61 points, 1 comment)
  92. Nunoyabiznes (60 points, 22 comments)
  93. pg3crypto (60 points, 13 comments)
  94. XxArmadaxX (60 points, 4 comments)
  95. awertheim (59 points, 27 comments)
  96. Ploxxx69 (59 points, 1 comment)
  97. TheGlassStone (59 points, 1 comment)
  98. moodytomatoes (58 points, 39 comments)
  99. Sneakybobo (58 points, 13 comments)
  100. UniqueCandy (58 points, 8 comments)

Top Submissions

  1. Anti-crypto propaganda... promoted by American Express by Alexsayzz (4526 points, 513 comments)
  2. Someone just paid $0.10 to move $194M (29,999 BTC). Think about how powerful that is for a second. by MoonMan_666 (2369 points, 380 comments)
  3. When your boss thanks you for staying late at work but you were just watching the Bitcoin price and lost track of time by _Logicrypto (2077 points, 69 comments)
  4. ⚡Lightning Network at the Senate - Counterargument to Roubini's speech that Bitcoin can never scale to serve the planet by bitbug42 (1496 points, 186 comments)
  5. Why sell and pay capital gains, why not wait for mass adoption? That's my motto. by opencoins (1417 points, 244 comments)
  6. Took a while but finally part of the picture club (had to wait on the web browser update!) by awertheim (1174 points, 127 comments)
  7. Feeling good? by Hodl_it (853 points, 215 comments)
  8. Bitcoin ATM operator gets the $62,500 that police confiscated back by cointastical (833 points, 110 comments)
  9. Congratulations US senators for understanding crypto better than this guy by JandyJammer (748 points, 125 comments)
  10. ...in case you missed the laura shill burn today by lesbiansareoverrated (704 points, 100 comments)

Top Comments

  1. 462 points: ikarienator's comment in Feeling good?
  2. 456 points: PragmaticParadox's comment in Anti-crypto propaganda... promoted by American Express
  3. 387 points: uglymelt's comment in ⚡Lightning Network at the Senate - Counterargument to Roubini's speech that Bitcoin can never scale to serve the planet
  4. 377 points: UsherTechs's comment in When your boss thanks you for staying late at work but you were just watching the Bitcoin price and lost track of time
  5. 342 points: isdudu's comment in Anti-crypto propaganda... promoted by American Express
  6. 307 points: TyroneTheDriver's comment in Anti-crypto propaganda... promoted by American Express
  7. 276 points: andycam7's comment in Why sell and pay capital gains, why not wait for mass adoption? That's my motto.
  8. 275 points: dmdeemer's comment in Someone just paid $0.10 to move $194M (29,999 BTC). Think about how powerful that is for a second.
  9. 268 points: Rattlesnake_Mullet's comment in Someone moved 12,220 BTC ($82M) in block 545,877
  10. 244 points: CP70's comment in Anti-crypto propaganda... promoted by American Express
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Cardano(ADA) Banned from Wiki? Bitcoin to $350k? Binance to issue Debit Card

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