8 Best Cryptocurrency Mining Tools for Linux

BTCC is a separate company from BTCChina. BTCC Pool, BTCC USD Exchange, BTCC DAX, BTCC Mobi, & BTCC Mint are not affected by this change. /r/Bitcoin

BTCC is a separate company from BTCChina. BTCC Pool, BTCC USD Exchange, BTCC DAX, BTCC Mobi, & BTCC Mint are not affected by this change. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Altcoins Pullback - NEM Breaks Into Top 5 Altcoins - The Chinese Royal Mint is Experimenting with Ethereum to Create a Digital Yuan Token - 24 Million Australians Can Now Their Bills with Bitcoin - Litecoin Mining Pool Disappears, Stoking Fears of Fraud

submitted by cryptocompare to cryptocompare [link] [comments]

Bitcoin mentioned around Reddit: [HELP PLEASE] Can someone please explain definitively how to get mining on Mint 18.1 with a Zeus Thunder X3 on a reputable Pool??? /r/EtherMining

Bitcoin mentioned around Reddit: [HELP PLEASE] Can someone please explain definitively how to get mining on Mint 18.1 with a Zeus Thunder X3 on a reputable Pool??? /EtherMining submitted by BitcoinAllBot to BitcoinAll [link] [comments]

09-25 23:12 - 'New Bitcoin Mining Pool Mints Its First Block: Cheers for increasing decentralization of Bitcoin mining!' (news.bitcoin.com) by /u/josiah- removed from /r/Bitcoin within 4200-4205min

New Bitcoin Mining Pool Mints Its First Block: Cheers for increasing decentralization of Bitcoin mining!
Go1dfish undelete link
unreddit undelete link
Author: josiah-
submitted by removalbot to removalbot [link] [comments]

Is it better to mint your own Bitcoin or mine with a pool?

submitted by Ceddit808 to Bitcoin [link] [comments]

Pools • Bitminter - Bitcoin minting made easy

submitted by btcforumbot to BtcForum [link] [comments]

Why is Bitcoin.com mining BTC?

Hey so the BCH hash rate has dropped off a cliff and even Roger is not mining it with his resources at Bitcoin.com. What's going on? Has he given up on his project? Or is he mining BTC more profitably so he can strategically dump it for BCH and make the hodlers number go up? I thought BCH was a better network without price protection planning?? Everyone said the halving would not be a big deal but clearly there's some political gaming going on :/
submitted by hashamadeus to btc [link] [comments]

Rewards coins and where are they coming from ?

Simple question and if somebody answer it simpliest they can. Where are theese rewards coins coming from ? Are they created from thin air ? Is there a fix supply of tokens, if so, then what happens when all got distributed? Are new created than ? If there is no limit in coin supply how something that can be created infinitley, can have value in first place ? I understand point of decentralization but economics I dont, who pays us and how for just holding coins and voting ?
submitted by playaaa29 to cardano [link] [comments]

Question Roundup - June 2020

The following questions were asked in our Telegram: t.me/ptokens

Q: What is the use case for pBTC tokens?
A: pBTC and other pTokens (pLTC, pEOS, etc) ensure that DApps can be accessible to anyone using cryptocurrencies, without them having to sell their Bitcoin, LItecoin, EOS, or any blockchain asset that they hold.
With the pTokens DApp, you can deposit your bitcoin and mint pBTC to enable portability to Ethereum and EOS blockchains. This allows you to explore new DApps and DeFi opportunities outside of the Bitcoin blockchain without selling your underlying BTC asset.
With pBTC you can:

Q: What is Crosschain?
A: Crosschain is a term indicating that multiple blockchains are connected and interoperable.

Q: Can I exchange pBTC for WBTC?
A: Yes you can swap for WBTC directly through the Eidoo wallet or with Kyber Network.
Or to move from Bitcoin to WBTC, you can utilize pBTC. First, swap BTC for pBTC via the pTokens DApp. Then swap pBTC for WBTC on Uniswap, utilizing the pBTC/WBTC liquidity pool, or through Kyber Network.

Q: Let's say I can get 6% interest over my pBTC in a DeFi project – how does it work when I redeem my BTC?
A: If you peg-in 1 BTC in pTokens, 1 pBTC is minted. Suppose that after one year you earn 6% on your pBTC and want to redeem your underlying asset. You will peg-out 1.06 pBTC and you will receive 1.06 BTC.

Q: What are the contract addresses of pBTC?
A: pBTC on ETH: https://etherscan.io/token/0x5228a22e72ccc52d415ecfd199f99d0665e7733b
pBTC EOS: https://bloks.io/account/btc.ptokens

Q: What projects have integrated pTokens?
A: We’ve integrated with a range of liquidity providers, DEXs, and frameworks such as dMEX, Loopring, Kyber Network, Bancor, and Equilibrium.
There’s also support for pBTC on popular DEX aggregators like 1inchExchange, Dex.ag, and Paraswap, as well as on wallets like Argent, MyEtherWallet, Trust Wallet, and Eidoo.
You can find our full (and growing) list of integrations at: ptokens.io/integrations

Q: Do you have any new pTokens bridges planned? Which are live now?
A: pBTC is currently on mainnet, both on Ethereum and EOS. And on testnet, pTokens currently has pLTC on ETH and pEOS on ETH. We are working on a few more pTokens bridges that will be released in the coming months, but going forward the pNetwork DAO will decide which pTokens assets and bridges are implemented.
You can see our planned assets here under “assets supported.”

Q: What phase is pTokens in, and when will it start the next phase?
A: p.Network is currently in phase 0 of its progressive decentralization roadmap. This means that pTokens are currently running on a single enclave, trust minimized, while future phases will be decentralized and trustless. The pNetwork DAO will launch in the coming weeks, and Phase1 will launch in Q3.
For more on the pNetwork roadmap, visit: https://p.network/project#roadmap

Q: Is there any concern for vulnerabilities with the use of a TEE given the history of SGX?
A: In our current phase0, we are not decentralized, but are utilizing a stronger-than-SGX TEE (strongbox). In phase1, we’ll be using multiTEE (no point of failure in a single tee)+MPC.

Q: Are there any minting fees?
A: In our current phase0, there are no peg-in/-out fees, as we subsidize the cost. In phase1 the fee will be chosen by the DAO and enforced by validators (the fee will be distributed among them as a reward for their work). At that point you can expect the fee to be similar to the ones applied by competing projects, which is normally between 0.1 and 0.2% (conceptually similar to the "trading fee" being applied by exchanges).

Q: Why are two pTokens BTC listed on Crossmarketcap? (11 e 13)?
A: Crossmarketcap shows data for several chains so they show two pBTC tokens: pBTC-on-eth and pBTC-on-eos.

Q: What is the difference between pTokens.io and p.Network?
A: pTokens.io is the project to unchain assets by creating 1:1 pTokenized assets (like pBTC) to move liquidity from one blockchain to another. It's integrated into various DeFi DApps and platforms across multiple blockchains. p.Network is the governance layer that supports and secures pTokens, and other projects, via a network of validators and a DAO.

Q: What is PNT? What happened to EDO?
A: The pNetwork Token (PNT) is the governance token for the upcoming p.Network, the decentralized network powering pTokens. Thanks to a collaborative effort between Eidoo and pTokens, the EDO token was upgraded and effectively transformed into PNT on June 18. On this day, EDO holders received an equal amount of PNT tokens in their Ethereum wallets, with leading exchanges listing PNT. EDO is no longer supported, as the value and utility of EDO was transferred to PNT.
As a governance token, PNT will be used for staking, voting and earning interest within the p.Network. PNT is available on a growing list of exchanges, including: Binance, Bitfinex, HitBTC, Kyber Network and Loopring. For more on the token upgrade, visit: https://medium.com/provable/introducing-the-pnetwork-pnt-2354f7ab06f

Q: What is the reason behind burning 28 million+ edo?
A: This is a step to reduce company held tokens so ownership is spread more equitably to the community when we move to the introduction of a community-governed DAO system.

Q: How much PNT does the team have now?
A: The team has 13M PNT locked, they unlock after 1 and 2 years. The token economy is outlined in the pNetwork deck on p.network/learn.

Q: Is there a public audit report?
A: The audit report for pBTC on ETH is available here. And the audit report for pBTC on EOS is here.

Q: Will the burning of PNT occur, similar to EDO burning for the Eidoo core services?
A: Yes. PNT extends the EDO token economy with p.Network so all Eidoo core services will continue as planned. Currently, 5M tokens are locked because of the previous Eidoo staking initiatives and burning happens on a daily basis (edo.watch).

Q: What is the contract address of PNT? Where can I find the total supply and circulating supply?
A: The contract addresses for PNT is: https://etherscan.io/address/0x89Ab32156e46F46D02ade3FEcbe5Fc4243B9AAeD
The total supply is approx 59.65M EDO: https://etherscan.io/token/0xced4e93198734ddaff8492d525bd258d49eb388e
The circulating supply is approximately 34M EDO as described on page #22 in our deck.
For more on the circulating supply, visit: https://www.coingecko.com/en/coins/pnetwork

Q: I see another project on Coingecko with PNT called Penta network – What is it?
A: We are not associated with Penta. Please be mindful to check the full name of the asset before interacting with it. For example, on HitBTC, Penta is listed as PNT, and pNetwork Token is listed as XPNT, but this is the only exchange where this occurs.

Q: Is PNT listed on any exchanges?
A: PNT is available on a growing list of exchanges, including: Binance, Bitfinex, HitBTC, Kyber Network and Loopring. We will continue to update our blog as more are added.
Coingecko also reports the exchanges where the trading of the pNetwork Token is active: https://www.coingecko.com/en/coins/pnetwork#markets.

Q: Why is PNT not supported on OKex?
A: Given the very small number of EDO tokens deposited on OKex we have decided not to list PNT there.

Q: What is the minimum amount of PNT required to stake
A: No minimum is required.

Q: How much is required to run a node?
A: Validators must stake 200k PNT. As an incentive, they would be able to earn 63% interest over two years - 42% the first year, and 21% the second. The pNetwork litepaper goes into more details on validators, PNT and token economics.

Q: How can you guarantee those interest rates?
A: They will be guaranteed by an inflation mechanism. The supply of PNT is just below 60 million tokens after launch. During the first stages of the pNetwork, an economic incentive is also introduced to the system to encourage users to actively participate within the DAO. In these first two years, all those who stake PNT will see their tokens grow with an overall interest rate of 63% over two years. Up to 28,350,000 PNT tokens are dedicated to this initiative, which are generated through an inflation mechanism.

Q: Where can I find community questions from the previous months?
May 2020
April 2020
March 2020
submitted by robwitt to pTokens [link] [comments]

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging at Genesis Block.
https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player
This is the third post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series.
97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit.
So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.

Stablecoins

Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility.
There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
The most popular USD-pegged stablecoins include:
  1. Tether ($10B): It’s especially popular in Asia. It’s backed by USD in a bank account. But given their lack of transparency and past controversies, they generally aren’t trusted as much in the West.
  2. USDC ($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
  3. DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Other notable USD-backed stablecoins include PAX, TrueUSD, Binance USD, and Gemini Dollar.
tablecoins are playing an increasingly important role in the world of DeFi. In a way, they serve as common pipes & bridges between the various protocols.
https://preview.redd.it/v9ki2qro12b51.png?width=700&format=png&auto=webp&s=dbf591b122fc4b3d83b381389145b88e2505b51d

Lending & Borrowing

Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid.
Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens.
Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive.
The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
I repeat, all loans are overcollateralized. If the value of the collateral depreciates significantly due to price volatility, there are sophisticated liquidation systems to ensure the loan always gets paid back.
https://preview.redd.it/rru5fykv12b51.png?width=700&format=png&auto=webp&s=620679dd84fca098a042051c7e7e1697be8dd259

Investments

Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments.
Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol.
Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery.
Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur.
And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio.
With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
https://preview.redd.it/agco8msx12b51.png?width=700&format=png&auto=webp&s=3bbb595f9ecc84758d276dbf82bc5ddd9e329ff8

Insurance

As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong.
Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k.
There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Two protocols that are leading the way on DeFi insurance are Nexus Mutual and Opyn. Though they are both still just getting started, many people are already using them. And we’re excited to start working with them at Genesis Block.
https://preview.redd.it/wf1xvq3z12b51.png?width=700&format=png&auto=webp&s=70db1e9587f57d0c470a4f9f4523c216929e1876

Exchanges & Liquidity

Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols.
Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth.
https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943
There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers.
Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound.
There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
Users can earn passive income by supplying liquidity to these markets. It usually comes in the form of sharing transaction fee revenue (Uniswap) or token rewards (Balancer).
https://preview.redd.it/wrug6lg222b51.png?width=700&format=png&auto=webp&s=9c47a3f2e01426ca87d84b92c1e914db39ff773f

Payments

As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto).
Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times.
The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW!
Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized).
Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum).
In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
https://preview.redd.it/svft1ce422b51.png?width=700&format=png&auto=webp&s=9a6afc9e9339a3fec29ee2ae743c07c3042ea4ce

Impact on Genesis Block

At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.”
https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8
When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be.
We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
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None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block.
So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions.
To look at more projects in DeFi, check out DeFi Prime, DeFi Pulse, or Consensys.
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Other Ways to Consume Today's Episode:
Follow our social channels:https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto:https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

MiniSwap -- A New Hybrid Incentive Model in DeFi

Cryptocurrency exchanges process over $20 billion in trade volume per day. Most of the transactions are going through centralized exchanges, where the users need to fully trust them for managing their assests and transactions. However, the risk of trusting these centralized exchanges has also been seen. For example, QuadrigaCX, which was the largest cryptocurrency exchange in Canada, lost $19 million of their customers' assets [1].
Decentralized Exchanges (DEXes) have been introduced to address this problem -- they allow traders to purchase and sell cryptocurrencies in a peer-to-peer manner, so no involvement of any trusted party is required. Atomic Swap is one of the promising technology for implementing a DEX. While it enables pure peer to peer trading, it also introduces problems such as unfairness and long confirmation latency. While existing work [2] has provided a solution towards a fair atomic swap protocol, the issue of long confirmation latency is inherent.
Another promising direction is leveraging liquidity pools. With liquidity pools, pairs of assets are reserved for trading. For any pair of assets supported by the liquidity pool, traders can exchange their assets without any third party. As traders can only perform the transactions if there are reserved assets, one core problem is how to attract liquidity providers to provide liquidity by reserving assets. It is not difficult to see that incentive [3,4], which has been a key component of all permissionless blockchains, can be equipped to incentivize liqudity providers. However, flawed incentive designs will lead to attacks and other concerns [5-13].
There are two main types of incentive designs, namely "trans-fee mining" and "liquidity mining". They are different from the Proof-of-X mining in blockchains for reaching consensus (a detailed analysis can be found in the survey [14]). Rather, they are used to incentivise users to join the ecosystem.
"Trans-fee mining" was proposed by FCoin in 2018 [15]. With FCoin, each time a transaction is created, 100% of its transaction fee will be returned in FCoin token to the payer as a reward. This is one incentive design to encourage traders to join the system. However, as FCoin may have no value to the trader, FCoin also introduces extra reward to all coin holders -- 80% of the transaction fee in its native currency (such as ETH) will be distributed to all coin holders. So, traders are incentivized to join the system, becoming a holder of FCoin token, and obtaining a share of the transaction fee of every transaction in the FCoin ecosystem.
While this had successful attracted traders, it is not sustainable. Rather than charging a trader to perform transactions, FCoin rewards traders. Profit-driven traders will create transactions at full speed to earn FCoin token and the share as a token holder. Indeed, the trading volume of FCoin was the top one among all exchange services, and the daily reward can be as high as 6000 BTC [16]. However, once all coins are minted, then the system would lose liveness as there is not enough supply to be distributed.
"Liquidity mining" aims at giving reward to the liquidity providers rather than the traders. There are different ways to implement liquidity mining. Compound [17] is a famous example of protocols deploying liquidity mining. With Compound, users become a liquidity provider by supply assets to a pool and obtain interests for its contribution (similar to depositing money into a bank). Liquidity providers first reserve some assets in the pool and obtain "cToken" of Compound which entitles the owner to an increasing quantity of the underlying asset. Users can use their "cToken" to borrow different assets available on the Compound and pay some interests to Compund. The borrowers may have some quick gains through the financial games [18]. Both borrowers and liquidity providers can withdraw their asset by trading them back with "cToken". Oners of "cToken" can also manage the business direction and decisions of Compound through weighted voting. The potential concern here is that rich users might be able to take over the control of the system.
Uniswap [19] is another popular DEX deploying liquidity mining. Uniswap incentivizes liquidity providers by giving them a share of the earned transaction fees. In particular, Uniswap changes each transaction a 0.3% fee, where 0.25% will be distributed to the liquidity providers, and 0.05% will go to the Uniswap account. One issue is how to incentivize traders. With Uniswap, traders are incentivized by the potential profit it can gain through the price difference between Uniswap and other exchanges. Uniswap price oracle is based on a constant function market makers [20,21], where the product of the number of reserved tokens is a constant. For example, if Uniswap has a pair of X token A and Y token B, then when a user using X' token A to buy Y' token B, the product of the reserved number of tokens should remain the same, i.e., XY = (X+X')(Y-Y'). The price of Uniswap (V1) is also defined in this way. This allows traders to speculate in the exchange market as the asset price on Uniswap is changed dynamically and is different from other exchanges. This, on the other hand, may have a security risk as the price can be easily manipulated. Uniswap (V2) fixed this problem by taking an accumulated price over a period of time [22]. However, as speculation/manipulation becomes harder, the trading volume may decrease.
MiniSwap [23] introduces a hybrid model (a mixture of "trans-fee mining" and "liquidity mining") to address the above issues. MiniSwap provides three types of rewards. For each trade with transaction fee f ETH in MiniSwap, a number of MiniSwap tokens (called MINI) worth 2f ETH will be minted. A (parameterized) portion of the tokens are given to the trader, and the rest are distribued to the liqudity providers. The transaction fee (f ETH) is used to exchange MINI in the liquidity pool. 50% of the obtained MINI will be distributed to all MINI holders, and the other 50% will be destroyed. In this way, both traders and liquidity providers are incentivized to join the ecosystem.
Recall that with FCoin, there is a problem when all coins are minted. MiniSwap has an upper bound (of 500,000 tokens) on the number of tokens can be created every day, and this limit reduces every month until a point where the limit (18,000 tokens) remains unchanged. This guarantees the sustainability of the system as the mining process can last for 100 years. The parameterized ratio of tokens as the reward to the trader and liquidity provider can also strengthen sustainability. It enables the system to dynamically balance the incentive of different parties in the system to make it more sustainable.
Overall, the MiniSwap hybrid model has taken the benefit of both "trans-fee mining" model and "liquidity mining" model, while eliminated the potential concerns. Formally defining and analyzing these models, e.g. through the game-theoretic approach [24], would be an interesting direction.
Reference
[1] The Guardian, Cryptocurrency investors locked out of $190m after exchange founder dies, 2019.
[2] Runchao Han, Haoyu Lin, Jiangshan Yu. On the optionality and fairness of Atomic Swaps, ACM Conference on Advances in Financial Technologies, 2019.
[3] Satoshi Nakamoto. 2008. Bitcoin: a peer-to-peer electronic cash system
[4] Jiangshan Yu, David Kozhaya, Jeremie Decouchant, and Paulo Verissimo. Repucoin: your reputation is your power. IEEE Transactions on Computers, 2019.
[5] Joseph Bonneau. Why Buy When You Can Rent? - Bribery Attacks on Bitcoin-Style Consensus. Financial Cryptography and Data Security - International Workshops on BITCOIN, VOTING, and WAHC, 2016.
[6] Yujin Kwon, Hyoungshick Kim, Jinwoo Shin, and Yongdae Kim. Bitcoin vs. Bitcoin Cash: Coexistence or Downfall of Bitcoin Cash, IEEE Symposium on Security and Privacy (SP), 2019.
[7] Kevin Liao and Jonathan Katz. Incentivizing blockchain forks via whale transactions. International Conference on Financial Cryptography and Data Security, 2017.
[8] Ayelet Sapirshtein, Yonatan Sompolinsky, and Aviv Zohar. Optimal Selfish Mining Strategies in Bitcoin. Financial Cryptography and Data Security, 2016.
[9] Ittay Eyal and Emin Gün Sirer. Majority Is Not Enough: Bitcoin Mining Is Vulnerable. Financial Cryptography and Data Security, 2014.
[10] Ittay Eyal. The Miner’s Dilemma. IEEE Symposium on Security and Privacy, 2015.
[11] Miles Carlsten, Harry A. Kalodner, S. Matthew Weinberg, and Arvind Narayanan. On the Instability of Bitcoin Without the Block Reward. ACM SIGSAC Conference on Computer and Communications Security, 2016.
[12] Kartik Nayak, Srijan Kumar, Andrew Miller, and Elaine Shi. Stubborn mining: generalizing selfish mining and combining with an eclipse attack. IEEE European Symposium on Security and Privacy, 2016.
[13] Runchao Han, Zhimei Sui, Jiangshan Yu, Joseph K. Liu, Shiping Chen. Sucker punch makes you richer: Rethinking Proof-of-Work security model, IACR Cryptol. ePrint Arch, 2019.
[14] Christopher Natoli, Jiangshan Yu, Vincent Gramoli, Paulo Jorge Esteves Veríssimo.
Deconstructing Blockchains: A Comprehensive Survey on Consensus, Membership and Structure. CoRR abs/1908.08316, 2019.
[15] FCoin, https://www.fcoin.pro
[16] The Block Crypto. Cryptocurrency exchange Fcoin expects to default on as much as $125M of users' bitcoin, 2020.
[17] Compound, https://compound.finance.
[18] Philip Daian, Steven Goldfeder, Tyler Kell, Yunqi Li, Xueyuan Zhao, Iddo Bentov, Lorenz Breidenbach, Ari Juels. Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges. IEEE Symposium on Security and Privacy, 2020.
[19] Uniswap. https://uniswap.org
[20] Bowen Liu, Pawel Szalachowski. A First Look into DeFi Oracles. CoRR abs/2005.04377, 2020.
[21] Guillermo Angeris, Tarun Chitra. Improved Price Oracles: Constant Function Market Makers, CoRR abs/ 2003.10001, 2020.
[22] Uniswap V2.0 whitepaper. https://uniswap.org/whitepaper.pdf
[23] MiniSwap. https://www.miniswap.org
[24] Ziyao Liu, Nguyen Cong Luong, Wenbo Wang, Dusit Niyato, Ping Wang, Ying-Chang Liang, Dong In Kim. A Survey on Blockchain: A Game Theoretical Perspective. IEEE Access, 2019.
submitted by MINISWAP to u/MINISWAP [link] [comments]

Collapse of MakerDAO Keepers: $4.5M lost & how to become a Keeper to earn 13%+ liquidation penalties by providing liquidity to MakerDAO Keeper Pool.

TL;DR - join waitlist for MakerDAO Keeper Pool to earn yield on DAI/ETH/USDC/USDT/Chai/sUSD/cDAI from liquidation penalties and ETH/DAI arbitrage profits earned in collateral auctions by the Keeper Pool (zero fee pool, non-custodial of course:) - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
________
Unfortunately, many of us became victims of MakerDAO collateral auctions market. This market was brought to its knees today, resulting in:
1) Losses affecting some of the MakerDAO Vault holders (borrowers of DAI from the Multi-Collateral DAI system), and
2) Losses affecting 100% of MKR token holders, - minting enough MKR and selling them for DAI to cover the missing DAI in the system. The auctions will begin on Wednesday, March 18, 2020.
For the last 14 hours I've been focusing on determining the root cause of the problem, and determining WHAT CAN I DO? to prevent this collapse from ever happening again.
Collapse of the MakerDAO Auctions.
Losses above is a result of a short-term monopoly in the auction market of collateral liquidation of MakerDAO vaults becoming under-collateralized with price of collateral (ETH, BAT) on the decline. This monopoly existed for ~3.5 hours this morning, allowing a single Keeper to buy close to $4.5M worth of ETH in exchange for ~0 DAI + gas fees.
The collapse negatively affected two classes of market participants:
1) Victim class #1: MCD Vault holders who were being liquidated between ~10am EST until ~1pm EST
Please meet Paul, one of the people who lost money. Read his story:
https://www.reddit.com/MakerDAO/comments/fhn1qn/complete_vault_liquidation_no_eth_left/
If you still didn't get it, please meet BitBurst who lost his life savings today:
https://www.reddit.com/MakerDAO/comments/fhs7kp/just_got_100_liquidated_with_my_1713_eth_cdp_fck/
Want more? One of us with a Reddit handle 'phyzled' is calling for help:
https://www.reddit.com/MakerDAO/comments/fhrjxp/help_complete_liquidation/
Even 'Bitcoin_Bender' is threatened. Not just him but his life and his family are going downhill:
https://www.reddit.com/MakerDAO/comments/fhupn8/total_liquidation_mkr_holders_should_take/
2) Victim class #2: MKR holders who will be diluted on Wednesday, March 18th as a result of Flop auction - minting new MKR tokens and selling them at an auction until the auction proceeds cover the missing DAI ($4.5M DAI at the time of this writing).
WHAT HAPPENED?
Prior to ~10am EST, there were a lot of Keepers bidding against each other for collateral at 13% liquidation penalty. Keepers are software bots which monitor Vaults and participate in auctions for collateral of borrowers who became under-collateralized. Operators of such bots are incentivized with mandatory 13% liquidation penalty imposed on Vault collateral upon liquidation.
https://docs.makerdao.com/auctions/the-auctions-of-the-maker-protocol
https://docs.makerdao.com/smart-contract-modules/collateral-module/flipper-detailed-documentation
However, after 10am EST, a single liquidation auction bot was able to bid at 0 DAI (or slightly above) PER EACH COLLATERAL ETH BEING AUCTIONED, AND WIN THE AUCTION. As a result, this Keeper was effectively steal $4M worth of ETH collateral because the auction was designed to raise at least 4M DAI in exchange for the ETH that was auctioned during liquidations, however all except one Keepers stopping their operations, there was only one bidder. Any price above 0 would be accepted. As a result, but the Vault holders who supposed to receive some ETH back, never got any ETH back > making the effective liquidation penalty to over 50% instead of 13%.
Why did the Keeper's market collapse? Why most Keepers stop operating?
Unfortunately, most Keepers stopped operating this morning due to the following reasons:
Root cause #1: Catastrophic liquidity crunch. Keepers simply ran out of DAI to bid in the collateral auctions due to
1.a I believe some Keepers were unable to continue Keeper operations due to inability to liquidate ETH fast enough for DAI.
1.b Some Keepers shut down due to squeeze (bought ETH for 170 DAI, and hours later can only sell for 130 DAI at a loss - which is way more than 13% liquidation penalty).
Root cause #2: Network congestion. This brought many Keepers to its knees. Even with liquidity, many were unable participating in auctions due to stuck transactions & high gas costs. In addition, issues like longer client sync times + some Ethereum clients (like Parity) sufferring from known problems of keeping transactions stuck in Mempool for a very, very long time, amplified this problem.
PROPOSED SOLUTION - MakerDAO Keeper Pool.
Why don't we pool our liquidity (non-custodial pool, Uniswap-style) and give Keepers some competition!?
To prevent more people from losing their funds, I decided to fund development of a MakerDAO Keeper Pool, which will allow anybody to become a Keeper and participate in liquidations of collateral (to earn 13% liquidation penalty).
Background: During today’s Community Call (5 hours and still ongoing at the time of this writing), multiple members of the Maker community stressed importance of increasing # of Keepers servicing the MCD system in order to prevent yet another collapse of the Keepers market as it happened today.
To improve maturity of the Keepers market, increase the collective liquidity used by Keeper’s, engineers at Protofire.io (developers of MakerDAO governance dashboard https://mkrgov.science, Solhint - Solidity Linter https://github.com/protofire/solhint, maintainers of Gnosis Conditional Exchange https://github.com/protofire/gnosis-conditional-exchange) and risk team + engineering team at Atomica.org (developers of Atomica.org/unwind/) launched emergency efforts to ship one or more of the following ASAP:
  1. Web-based MakerDAO Keeper. Perform liquidations of 3rd party collateral from your browser as a Keeper. Earn 13% liquidation penalty.
  2. Open Source Keeper Templates. Run your own Keeper Bot on AWS - 1-click Installer for a MakerDAO Keeper Bot (open source Amazon Machine Image).
  3. Non-custodial MakerDAO Keeper Pool. Earn yield on DAI/ETH/USDC/USDT/cDAI/Chai from a pool running multiple Keeper bots servicing MakerDAO ecosystem. Join/Exit/Add/Withdraw DAI/ETH/USDC/USDT/cDAI/Chai, and earn 100% of liquidation penalties earned by the Keeper (zero fee pool).
Ultimately, we aim to:
- Upgrade the MakerDAO Keeper Pool to be a Keeper of Last Resort. Think of a Keeper backed by on-chain, guaranteed liquidity AND configured to participate in auctions with bids of at least 0.85 of the current ETH-DAI market price, as reported by oracles. So long as the Keeper Pool is operating, no Keeper will be able to take advantage of the system and cause yet another collapse of the MakerDAO Collateral Auction markets.
- Ship 3rd party JavaScript / npm library + Android/iOS SDKs to embed Web-based Keeper or MakerDAO Keeper Pool join/exit/add/withdraw liquidity into your own dApp, protocol, product or service.
If anyone is interested in developing/observing/joining MakerDAO Keeper Pool (for example by running their own Keeper using hardened AWS AMI template, or by providing liquidity (DAI/ETH/USDC/USDT/cDAI/Chai) to a Keeper Pool) - feel free to join our working group working to ship a MakerDAO Keeper Pool ASAP - https://docs.google.com/forms/d/e/1FAIpQLSfekQcjT5up5Uh2W_C2W0U5zJ5miLd5ott_87CW8-dDH75TZg/viewform
Its not about what DeFi can do for you. It is about what YOU can do for DeFi.
submitted by renatco to ethereum [link] [comments]

Default English word list

Alright so, I took the default database from there https://skribbliohints.github.io/ and with the help of html, I extracted the words to a list separated by commas. It's useful when you want to translate those words into your native language.
Word of advice, when using google translate, do not put all words at once there, it can rapidly worsen the translation.
(And there is a last thing. Their algorithm of picking only custom words is not working really good, at least for me. Meaning that I often get duplicates, despite having a list this big and without duplicates. I'm still trying to find some solution to this, so if somebody is experiencing this as well, share the knowledge please, I will do the same.)
SOLUTION: Thanks for the reply from PepegaWR who identified the cause. I also tested it and there seems to be a custom words limit of 5000 characters. The easiest way in my opinion is to shuffle the words before each session to minimize the impact. Also thanks to the flynger who had the same idea before me :)
Finally, here it is, enjoy the scribbling ^^ :

ABBA, AC/DC, Abraham Lincoln, Adidas, Africa, Aladdin, America, Amsterdam, Android, Angelina Jolie, Angry Birds, Antarctica, Anubis, Apple, Argentina, Asia, Asterix, Atlantis, Audi, Australia, BMW, BMX, Bambi, Band-Aid, Barack Obama, Bart Simpson, Batman, Beethoven, Bible, Big Ben, Bill Gates, Bitcoin, Black Friday, Bomberman, Brazil, Bruce Lee, Bugs Bunny, Canada, Capricorn, Captain America, Cat Woman, Cerberus, Charlie Chaplin, Chewbacca, China, Chinatown, Christmas, Chrome, Chuck Norris, Colosseum, Cookie Monster, Crash Bandicoot, Creeper, Croatia, Cuba, Cupid, DNA, Daffy Duck, Darwin, Darwin Watterson, Deadpool, Dexter, Discord, Donald Duck, Donald Trump, Dora, Doritos, Dracula, Dumbo, Earth, Easter, Easter Bunny, Egypt, Eiffel tower, Einstein, Elmo, Elon Musk, Elsa, Eminem, England, Europe, Excalibur, Facebook, Family Guy, Fanta, Ferrari, Finn, Finn and Jake, Flash, Florida, France, Frankenstein, Fred Flintstone, Gandalf, Gandhi, Garfield, Germany, God, Goofy, Google, Great Wall, Greece, Green Lantern, Grinch, Gru, Gumball, Happy Meal, Harry Potter, Hawaii, Hello Kitty, Hercules, Hollywood, Home Alone, Homer Simpson, Hula Hoop, Hulk, Ikea, India, Intel, Ireland, Iron Giant, Iron Man, Israel, Italy, Jack-o-lantern, Jackie Chan, James Bond, Japan, JayZ, Jenga, Jesus Christ, Jimmy Neutron, John Cena, Johnny Bravo, KFC, Katy Perry, Kermit, Kim Jong-un, King Kong, Kirby, Kung Fu, Lady Gaga, Las Vegas, Lasagna, Lego, Leonardo DiCaprio, Leonardo da Vinci, Lion King, London, London Eye, Luigi, MTV, Madagascar, Mario, Mark Zuckerberg, Mars, McDonalds, Medusa, Mercedes, Mercury, Mexico, Michael Jackson, Mickey Mouse, Microsoft, Milky Way, Minecraft, Miniclip, Minion, Minotaur, Mona Lisa, Monday, Monster, Mont Blanc, Morgan Freeman, Morse code, Morty, Mount Everest, Mount Rushmore, Mozart, Mr. Bean, Mr. Meeseeks, Mr Bean, Mr Meeseeks, Mummy, NASCAR, Nasa, Nemo, Neptune, Netherlands, New Zealand, Nike, Nintendo Switch, North Korea, Northern Lights, Norway, Notch, Nutella, Obelix, Olaf, Oreo, Pac-Man, Paris, Patrick, Paypal, Peppa Pig, Pepsi, Phineas and Ferb, Photoshop, Picasso, Pikachu, Pink Panther, Pinocchio, Playstation, Pluto, Pokemon, Popeye, Popsicle, Porky Pig, Portugal, Poseidon, Pringles, Pumba, Reddit, Rick, Robbie Rotten, Robin Hood, Romania, Rome, Russia, Samsung, Santa, Saturn, Scooby Doo, Scotland, Segway, Sherlock Holmes, Shrek, Singapore, Skittles, Skrillex, Skype, Slinky, Solar System, Sonic, Spain, Spartacus, Spiderman, SpongeBob, Squidward, Star Wars, Statue of Liberty, Steam, Stegosaurus, Steve Jobs, Stone Age, Sudoku, Suez Canal, Superman, Susan Wojcicki, Sydney Opera House, T-rex, Tails, Tarzan, Teletubby, Terminator, Tetris, The Beatles, Thor, Titanic, Tooth Fairy, Tower Bridge, Tower of Pisa, Tweety, Twitter, UFO, USB, Uranus, Usain Bolt, Vatican, Vault boy, Velociraptor, Venus, Vin Diesel, W-LAN, Wall-e, WhatsApp, William Shakespeare, William Wallace, Winnie the Pooh, Wolverine, Wonder Woman, Xbox, Xerox, Yin and Yang, Yoda, Yoshi, Youtube, Zelda, Zeus, Zorro, Zuma, abstract, abyss, accident, accordion, ace, acid, acne, acorn, action, actor, addiction, addition, adorable, adult, advertisement, afro, afterlife, air conditioner, airbag, aircraft, airplane, airport, alarm, albatross, alcohol, alien, allergy, alley, alligator, almond, alpaca, ambulance, anaconda, anchor, angel, anglerfish, angry, animation, anime, ant, anteater, antelope, antenna, anthill, antivirus, anvil, apartment, apocalypse, applause, apple, apple pie, apple seed, apricot, aquarium, arch, archaeologist, archer, architect, aristocrat, arm, armadillo, armor, armpit, arrow, ash, assassin, assault, asteroid, astronaut, asymmetry, athlete, atom, attic, audience, autograph, avocado, axe, baboon, baby, back pain, backbone, backflip, backpack, bacon, bad, badger, bag, bagel, bagpipes, baguette, bait, bakery, baklava, balance, balcony, bald, ball, ballerina, ballet, balloon, bamboo, banana, bandage, bandana, banjo, bank, banker, bar, barbarian, barbecue, barbed wire, barber, barcode, bark, barn, barrel, bartender, base, basement, basket, basketball, bat, bathroom, bathtub, battery, battle, battleship, bayonet, bazooka, beach, beak, bean, bean bag, beanie, beanstalk, bear, bear trap, beatbox, beaver, bed, bed bug, bed sheet, bedtime, bee, beef, beer, beet, beetle, bell, bell pepper, bellow, belly, belly button, below, belt, bench, betray, bicycle, bill, billiards, bingo, binoculars, biology, birch, bird, bird bath, birthday, biscuit, bite, black, black hole, blackberry, blacksmith, blanket, bleach, blender, blimp, blind, blindfold, blizzard, blood, blowfish, blue, blueberry, blush, boar, board, boat, bobsled, bodyguard, boil, bomb, booger, book, bookmark, bookshelf, boomerang, boots, border, bottle, bottle flip, bounce, bouncer, bow, bowl, bowling, box, boy, bracelet, braces, brain, brainwash, branch, brand, bread, breakfast, breath, brick, bricklayer, bride, bridge, broadcast, broccoli, broken heart, bronze, broom, broomstick, brownie, bruise, brunette, brush, bubble, bubble gum, bucket, building, bulge, bull, bulldozer, bullet, bumper, bungee jumping, bunk bed, bunny, burglar, burp, burrito, bus, bus driver, bus stop, butcher, butler, butt cheeks, butter, butterfly, button, cab driver, cabin, cabinet, cactus, cage, cake, calendar, camel, camera, campfire, camping, can, can opener, canary, candle, canister, cannon, canyon, cap, cape, cappuccino, captain, car wash, cardboard, carnival, carnivore, carpenter, carpet, carrot, cartoon, cash, casino, cast, cat, catalog, catapult, caterpillar, catfish, cathedral, cauldron, cauliflower, cave, caveman, caviar, ceiling, ceiling fan, celebrate, celebrity, cell, cell phone, cello, cement, centaur, centipede, chain, chainsaw, chair, chalk, chameleon, champagne, champion, chandelier, charger, cheek, cheeks, cheerleader, cheese, cheeseburger, cheesecake, cheetah, chef, chemical, cherry, cherry blossom, chess, chest, chest hair, chestnut, chestplate, chew, chicken, chihuahua, child, chime, chimney, chimpanzee, chin, chinchilla, chocolate, chopsticks, church, cicada cigarette, cinema, circle, circus, clap, clarinet, classroom, claw, clay, clean, clickbait, cliff, climb, cloak, clock, cloth, clothes hanger, cloud, clover, clown, clownfish, coach, coal, coast, coast guard, coaster, coat, cobra, cockroach, cocktail, coconut, cocoon, coffee, coffee shop, coffin, coin, cola, cold, collapse, collar, color-blind, comb, comedian, comedy, comet, comfortable, comic book, commander, commercial, communism, community, compass, complete, computer, concert, condiment, cone, confused, console, continent, controller, conversation, cookie, cookie jar, copper, copy, coral, coral reef, cord, cork, corkscrew, corn, corn dog, corner, cornfield, corpse, cotton, cotton candy, country, cousin, cow, cowbell, cowboy, coyote, crab, crack, crate, crawl space, crayon, cream, credit, credit card, cricket, cringe, crocodile, croissant, crossbow, crow, crowbar, crucible, cruise, crust, crystal, cube, cuckoo, cucumber, cup, cupboard, cupcake, curry, curtain, cushion, customer, cut, cute, cyborg, cylinder, cymbal, dagger, daisy, dalmatian, dance, dandelion, dandruff, darts, dashboard, daughter, day, dead, deaf, deep, deer, defense, delivery, demon, demonstration, dent, dentist, deodorant, depressed, derp, desert, desk, desperate, dessert, detective, detonate, dew, diagonal, diagram, diamond, diaper, dice, dictionary, die, diet, dig, dinner, dinosaur, diploma, dirty, disaster, disease, dishrag, dispenser, display, diss track, distance, diva, divorce, dizzy, dock, doctor, dog, doghouse, doll, dollar, dollhouse, dolphin, dome, dominoes, donkey, door, doorknob, dots, double, dough, download, dragon, dragonfly, drain, drama, drawer, dream, dress, drink, drip, drive, driver, drool, droplet, drought, drum, drum kit, duck, duct tape, duel, dwarf, dynamite, eagle, ear, earbuds, earthquake, earwax, east, eat, echo, eclipse, eel, egg, eggplant, elbow, elder, election, electric car, electric guitar, electrician, electricity, elephant, elevator, embers, emerald, emoji, employer, emu, end, engine, engineer, equator, eraser, error, eskimo, espresso, evaporate, evening, evolution, exam, excavator, exercise, explosion, eye, eyebrow, eyelash, eye shadow, fabric, fabulous, facade, face, face paint, factory, failure, fairy, fake teeth, fall, family, farm, farmer, fashion designer, fast, fast food, fast forward, father, faucet, feather, fence, fencing, fern, festival, fidget spinner, field, figurine, filmmaker, filter, finger, fingernail, fingertip, fire alarm, fire hydrant, fire truck, fireball, firecracker, firefighter, firefly, firehouse, fireman, fireplace, fireproof, fireside, firework, fish, fish bowl, fisherman, fist fight, fitness trainer, fizz, flag, flagpole, flamethrower, flamingo, flashlight, flask, flea, flight attendant, flock, floodlight, floppy disk, florist, flower, flu, fluid, flush, flute, fly, fly swatter, flying pig, fog, foil, folder, food, forehead, forest, forest fire, fork, fort, fortress, fortune, fossil, fountain, fox, frame, freckles, freezer, fridge, fries, frog, frostbite, frosting, frown, fruit, full, full moon, funeral, funny, fur, furniture, galaxy, gang, gangster, garage, garbage, garden, gardener, garlic, gas, gas mask, gasoline, gasp, gate, gem, gender, generator, genie, gentle, gentleman, geography, germ, geyser, ghost, giant, gift, giraffe, girl, gladiator, glass, glasses, glitter, globe, gloss, glove, glow, glowstick, glue, glue stick, gnome, goal, goat, goatee, goblin, godfather, gold, gold chain, golden apple, golden egg, goldfish, golf, golf cart, good, goose, gorilla, graduation, graffiti, grandmother, grapefruit, grapes, graph, grass, grasshopper, grave, gravedigger, gravel, graveyard, gravity, greed, grenade, grid, grill, grin, groom, grumpy, guillotine, guinea pig, guitar, gumball, gummy, gummy bear, gummy worm, hacker, hair, hair roller, hairbrush, haircut, hairspray, hairy, half, halo, ham, hamburger, hammer, hammock, hamster, hand, handicap, handle, handshake, hanger, happy, harbor, hard, hard hat, harmonica, harp, harpoon, hashtag, hat, hazard, hazelnut, head, headache, headband, headboard, heading, headphones, health, heart, heat, hedgehog, heel, heist, helicopter, hell, helmet, hen, hermit, hero, hexagon, hibernate, hieroglyph, high five, high heels, high score, highway, hilarious, hill, hip hop, hippie, hippo, hitchhiker, hive, hobbit, hockey, holiday, homeless, honey, honeycomb, hoof, hook, hop, hopscotch, horizon, horn, horse, horsewhip, hose, hospital, hot, hot chocolate, hot dog, hot sauce, hotel, hourglass, house, hovercraft, hug, hummingbird, hunger, hunter, hurdle, hurt, husband, hut, hyena, hypnotize, iPad, iPhone, ice, ice cream, ice cream truck, iceberg, icicle, idea, imagination, impact, incognito, industry, infinite, injection, insect, inside, insomnia, internet, intersection, interview, invasion, invention, invisible, iron, island, ivy, jacket, jackhammer, jaguar, jail, jalapeno, janitor, jaw, jazz, jeans, jeep, jello, jelly, jellyfish, jester, jet ski, joker, journalist, journey, judge, juggle, juice, jump rope, jungle, junk food, kangaroo, karaoke, karate, katana, kazoo, kebab, keg, kendama, ketchup, kettle, key, keyboard, kidney, kindergarten, king, kiss, kitchen, kite, kitten, kiwi, knee, kneel, knife, knight, knot, knuckle, koala, kraken, label, laboratory, ladder, lady, ladybug, lake, lamb, lamp, landlord, landscape, lane, language, lantern, lap, laptop, laser, lasso, laundry, lava, lava lamp, lawn mower, lawyer, leader, leaf, leak, leash, leather, leave, leech, legs, lemon, lemonade, lemur, lens, leprechaun, lettuce, levitate, librarian, library, licorice, lid, light bulb, lighter, lighthouse, lightning, lightsaber, lily, lilypad, limbo, lime, limousine, line, link, lion, lips, lipstick, litter box, lizard, llama, loading, loaf, lobster, lock, log, logo, lollipop, loot, loser, lotion, lottery, lounge, love, low, luck, luggage, lumberjack, lung, lynx, lyrics, macaroni, machine, macho, mafia, magazine, magic, magic trick, magic wand, magician, magma, magnet, magnifier, maid, mailbox, mailman, makeup, mall, mammoth, manatee, manhole, manicure, mannequin, mansion, mantis, map, maracas, marathon, marble, margarine, marigold, market, marmalade, marmot, marshmallow, mascot, mask, massage, match, matchbox, mattress, mayonnaise, mayor, maze, meal, meat, meatball, meatloaf, mechanic, meerkat, megaphone, melon, melt, meme, mermaid, message, messy, metal, meteorite, microphone, microscope, microwave, midnight, military, milk, milkman, milkshake, mime, miner, minigolf, minivan, mint, minute, mirror, missile, model, mohawk, mold, mole, money, monk, monkey, monster, moon, moose, mop, morning, mosquito, moss, moth, mothball, mother, motherboard, motorbike, motorcycle, mountain, mouse, mousetrap, mouth, movie, mud, muffin, mug, murderer, muscle, museum, mushroom, musket, mustache, mustard, nachos, nail, nail file, nail polish, napkin, narwhal, nature, navy, neck, needle, neighbor, neighborhood, nerd, nest, network, newspaper, nickel, night, nightclub, nightmare, ninja, noob, noodle, north, nose, nose hair, nose ring, nosebleed, nostrils, notebook, notepad, nothing, notification, novel, nugget, nuke, nun, nurse, nut, nutcracker, nutmeg, nutshell, oar, observatory, ocean, octagon, octopus, office, oil, old, omelet, onion, open, opera, orange, orangutan, orbit, orca, orchestra, orchid, organ, origami, ostrich, otter, outside, oval, overweight, owl, oxygen, oyster, paddle, page, pain, paint, paintball, pajamas, palace, palette, palm, palm tree, pan, pancake, panda, panpipes, panther, pants, papaya, paper, paper bag, parachute, parade, parakeet, parents, park, parking, parrot, party, password, pasta, pastry, path, patient, patio, patriot, pause, pavement, paw, peace, peach, peacock, peanut, pear, peas, peasant, pedal, pelican, pencil, pencil case, pencil sharpener, pendulum, penguin, peninsula, penny, pensioner, pepper, pepperoni, perfume, periscope, person, pet food, pet shop, petal, pharmacist, photo frame, photograph, photographer, piano, pickaxe, pickle, picnic, pie, pig, pigeon, piggy bank, pigsty, pike, pill, pillar, pillow, pillow fight, pilot, pimple, pin, pinball, pine, pine cone, pineapple, pink, pinky, pinwheel, pipe, pirate, pirate ship, pistachio, pistol, pitchfork, pizza, plague, planet, plank, plate, platypus, player, playground, plow, plug, plumber, plunger, pocket, pogo stick, point, poison, poisonous, poke, polar bear, policeman, pollution, polo, pond, pony, ponytail, poodle, poop, poor, popcorn, pope, poppy, popular, porch, porcupine, portal, portrait, positive, postcard, poster, pot, pot of gold, potato, potion, pound, powder, prawn, pray, preach, pregnant, present, president, pretzel, price tag, priest, prince, princess, printer, prism, prison, pro, procrastination, professor, programmer, promotion, protest, provoke, prune, pub, pudding, puddle, puffin, puma, pumpkin, punishment, punk, puppet, purity, purse, puzzle, pyramid, quarter, queen, queue, quicksand, quill, quilt, quokka, raccoon, race, racecar, radar, radiation, radio, radish, raft, rail, rain, rainbow, raincoat, raindrop, rainforest, raisin, rake, ram, ramp, rapper, raspberry, rat, ravioli, razor, razorblade, read, reality, reception, receptionist, record, rectangle, recycling, red, red carpet, reeds, referee, reflection, reindeer, relationship, religion, remote, repeat, reptile, rest, restaurant, retail, revolver, rewind, rhinoceros, rib, ribbon, rice, ring, ringtone, risk, river, roadblock, robber, robin, robot, rock, rocket, rockstar, roll, roof, room, rooster, root, rose, royal, rubber, ruby, rug, ruler, run, rune, sad, saddle, safari, safe, sailboat, salad, sale, saliva, salmon, salt, saltwater, sand, sand castle, sandbox, sandstorm, sandwich, satellite, sauce, sauna, sausage, saxophone, scar, scarecrow, scarf, scary, scent, school, science, scientist, scissors, scoop, score, scream, screen, screw, scribble, scuba, sculpture, scythe, sea, sea lion, seafood, seagull, seahorse, seal, search, seashell, seasick, season, seat belt, seaweed, second, security, seed, seesaw, semicircle, sensei, server, sew, sewing machine, shadow, shake, shallow, shampoo, shape, shark, shaving cream, sheep, shelf, shell, shipwreck, shirt, shock, shoe, shoebox, shoelace, shop, shopping, shopping cart, short, shotgun, shoulder, shout, shovel, shower, shrew, shrub, shy, sick, signature, silence, silo, silver, silverware, sing, sink, sit, six pack, skateboard, skateboarder, skates, skeleton, ski, ski jump, skin, skinny, skribbl.io, skull, skunk, sky, skydiving, skyline, skyscraper, slam, sledge, sledgehammer, sleep, sleeve, slide, slime, slingshot, slippery, slope, sloth, slow, slump, smell, smile, smoke, snail, snake, sneeze, sniper, snow, snowball, snowball fight, snowboard, snowflake, snowman, soap, soccer, social media, socket, socks, soda, soil, soldier, sombrero, son, sound, soup, south, space, space suit, spaceship, spade, spaghetti, spark, sparkles, spatula, speaker, spear, spelunker, sphinx, spider, spin, spinach, spine, spiral, spit, spoiler, sponge, spool, spoon, spore, sports, spray paint, spring, sprinkler, spy, square, squid, squirrel, stab, stadium, stage, stamp, stand, stapler, star, starfish, starfruit, statue, steam, step, stereo, sting, stingray, stomach, stone, stoned, stop sign, stork, storm, stove, straw, strawberry, streamer, street, stress, strong, student, studio, study, stylus, submarine, subway, sugar, suitcase, summer, sun, sunburn, sunflower, sunglasses, sunrise, sunshade, supermarket, superpower, surface, surfboard, surgeon, survivor, sushi, swag, swamp, swan, swarm, sweat, sweater, swimming pool, swimsuit, swing, switch, sword, swordfish, symphony, table, table tennis, tablecloth, tablet, tabletop, taco, tadpole, tail, tailor, take off, talent show, tampon, tangerine, tank, tape, tarantula, target, taser, tattoo, taxi, taxi driver, tea, teacher, teapot, tear, teaspoon, teddy bear, telephone, telescope, television, temperature, tennis, tennis racket, tent, tentacle, text, thermometer, thief, thin, think, thirst, throat, throne, thug, thumb, thunder, thunderstorm, ticket, tickle, tie, tiger, time machine, timpani, tiny, tip, tiramisu, tire, tired, tissue, tissue box, toad, toast, toaster, toe, toenail, toilet, tomato, tomb, tombstone, tongue, toolbox, tooth, toothbrush, toothpaste, toothpick, top hat, torch, tornado, torpedo, tortoise, totem, toucan, touch, tourist, tow truck, towel, tower, toy, tractor, traffic, traffic light, trailer, train, translate, trap, trapdoor, trash can, traveler, treadmill, treasure, tree, treehouse, trend, triangle, trick shot, tricycle, trigger, triplets, tripod, trombone, trophy, tropical, truck, truck driver, trumpet, tuba, tug, tumor, tuna, tunnel, turd, turkey, turnip, turtle, tuxedo, twig, type, udder, ukulele, umbrella, uncle, underground, underweight, undo, unibrow, unicorn, unicycle, uniform, universe, upgrade, vacation, vaccine, vacuum, valley, vampire, vanilla, vanish, vault, vegetable, vegetarian, vein, vent, vertical, veterinarian, victim, victory, video, video game, village, villain, vine, vinegar, viola, violence, violin, virtual reality, virus, vise, vision, vitamin, vlogger, vodka, volcano, volleyball, volume, vomit, voodoo, vortex, vote, vulture, vuvuzela, waffle, waist, waiter, wake up, walk, wall, wallpaper, walnut, walrus, warehouse, warm, wart, wasp, watch, water, water cycle, water gun, waterfall, wave, wax, weak, wealth, weapon, weasel, weather, web, website, wedding, welder, well, werewolf, west, western, whale, wheel, wheelbarrow, whisk, whisper, whistle, white, wife, wig, wiggle, willow, wind, windmill, window, windshield, wine, wine glass, wing, wingnut, winner, winter, wire, wireless, witch, witness, wizard, wolf, wonderland, woodpecker, wool, work, workplace, world, worm, wound, wrapping, wreath, wrench, wrestler, wrestling, wrinkle, wrist, writer, x-ray, xylophone, yacht, yardstick, yawn, yearbook, yellow, yeti, yo-yo, yogurt, yolk, young, youtuber, zebra, zeppelin, zigzag, zipline, zipper, zombie, zoo, zoom,
submitted by StaroSVK to skribbl [link] [comments]

Daily Crypto Brief for Friday, June 26, 2020.

This is your ITB Media Daily Crypto Brief for Friday, June 26, 2020.
In Mainstream Financial News.
CNBC reports: Here’s what a new SEC chair could mean for crypto, according to Bitcoin investor Michael Novogratz
A potential change at the top of United States’ main securities regulator could be a good thing for cryptocurrencies, investor Michael Novogratz said on Monday.

Bloomberg Headline: Lobbyist Jack Abramoff Charged in CryptoCurrency Case, U.S. Says
Jack Abramoff, the onetime Washington insider who went to prison in a lobbying scandal, was charged by the U.S. with illegally lobbying for a fraudulent cryptocurrency project. Abramoff has agreed to plead guilty to conspiracy and violating the Lobbying Disclosure Act and faces as long as five years in prison, according to a court filing and U.S. Attorney David Anderson in San Francisco.

The Asia Times Reports: Australians can pay for bitcoin at post office
Australians Can Now Pay for Bitcoin at 3,500 Australia Post Offices. Australian residents can now pay for bitcoin at more than 3,500 national post offices. The new service launched by Bitcoin.com.au is aimed at promoting cryptocurrencies to mainstream audiences, alongside established businesses and organizations.

Wall Street Journal Headline: Lobbyist Jack Abramoff Charged With Fraud
On June 25th, 2020, lobbyist Jack Abramoff and CEO Roland Marcus Andrade were charged in San Francisco federal court with fraud in connection with a $5 million cryptocurrancy deal. Abramoff has agreed to a negotiated plea of guilty.

Forbes Headline: Legendary Investor Jim Rogers Warns Governments Will Have To ‘Eliminate’ Bitcoin
Bitcoin has made its fair share of enemies since it was created a little over ten years ago. ... Now, legendary investor Jim Rogers has warned bitcoin and similar "virtual currencies beyond the influence of the government" will not be allowed to survive—and said the bitcoin price is headed to zero.

In Crypto Publications headlines.

Bitcoin Dropping to $6K ‘Golden Pocket’ Isn’t Bearish, Says Trader by Cointelegraph
Bitcoin (BTC) could crash to $6,000 and still remain bullish, one trader claimed on June 26 as the largest cryptocurrency tested $9,000 support. In a Twitter analysis, the popular trader known as SteveCrypt0 offered an alternative to the bearish sentiment coming from markets this week. Trader: $6K is “healthy correction”

Trio of Bitcoin Tokens Lures DeFi Yield Farmers to New Pastures by CoinDesk

To recap, Synthetix is a platform for minting and exchanging synthetic tokens that mirror the price of other assets. On June 19, Synthetix joined the Ren Project and BitGo in creating a pool of bitcoin-backed tokens, for smooth liquidity between three crypto products that should be all but interchangeable. Plus, each of the DeFi platforms is promising token rewards in order to get more participation in the pool. This pool of sBTC, renBTC and WBTC lives on Curve, an automated market maker that has extremely low price slippage thanks in part to its specialization in stablecoins.

CryptoNews reports on its front page: Blockchain Game Firm Releases Samsung Phone Featuring a Crypto Wallet
Samsung has released three special-edition Galaxy smartphones in conjunction with WeMade Tree, the blockchain arm of South Korean gaming giant WeMade. The devices are customized versions of the Samsung Galaxy S20, S20+ and S20 Ultra, but come pre-loaded with WeMade Tree’s Wemix cryptocurrency wallet. According to a sales platform created for the phones, the most expensive of the three devices is priced at USD 1,329. This has been your ITB Media Daily Crypto Brief for Friday, June 26, 2020.
submitted by Gigantile to Bitcoin [link] [comments]

Not all alt-coins are scams (I hope)

What is this post about?

Bitcoin brought to light the power of cryptocurrency and blockchain technology. I wanted to share some other projects to show the world that blockchain technology is a viable solution to real world problems. I had a look into some of the projects that are disrupting industries like advertising, communication, energy, finance, gambling, video games, privacy, and social media - here’s what I found:

Advertising

Personal data is gathered and sold to third parties, but the money never makes it to the user whose data has generated the value for the company using it.

Communication

Edward Snowden (among others) revealed the extent of surveillance technology collecting civilian communication data and expressed the need for a safe, secure and surveillance free method for individuals and businesses to communicate over the internet.

Privacy

With the shift away from physical cash and the move towards online payments, user privacy is at risk. Digitalization often means more surveillance, privacy is more important than ever.

Energy

Energy markets are inefficient and act in the interest of the middlemen, not the generator or consumer. With the continual transition to cleaner energy, the energy sector is looking to leverage new and existing technologies.

Financial Sector

The financial system is out of date and in serious need of an update. Traditional banking only runs during business hours and cross border payments are exceptionally slow, inefficient and costly. As we continue transitioning to a more digital world, money is making the same change.

Gambling

Gambling usually takes place in a physical or virtual casino, where the house always wins. Blockchain based gambling platforms will provide more transparency on how odds are formed, fees are charged and how payouts are scheduled.

IoT

With the introduction of IoT technology, the amount of data points being collected need to be managed and secured to avoid massive data breaches and leaks. The use of Blockchain technology can increase transparency and virtual incorruptibility.

Video Games

The video game industry is an ever evolving space which often adopted technological advancements before many others. The use of Blockchain is being explored for things such as in-game Microtransactions and digital collectables.

Social

Typical social platforms are run by centralized companies and depending on their jurisdiction, they may not be able to serve certain people. Censorship resistance is critical to allow for freedom of speech.

Looking forward

There are literally thousands of projects out there, these are just some of the projects I've found to be doing interesting things. If I’ve missed something super important, let me know. I might look into blockchain projects next that have the most current active user bases if you guys like these kinds of posts.
submitted by PM_ME_STEVE_HARVEY to CryptoCurrency [link] [comments]

Peercoin v0.9 (Codename Strider) Released - Includes Update to PoS Reward Economics - Hard Fork is June 8th, 2020 - Upgrade Today!

Peercoin v0.9 (Codename Strider) Released - Includes Update to PoS Reward Economics - Hard Fork is June 8th, 2020 - Upgrade Today!
NOTE: If you are new to Peercoin, check out the Peercoin Primer, a short 5 part video series covering the basic fundamentals of Peercoin.

https://preview.redd.it/3v73ap26c4z41.png?width=600&format=png&auto=webp&s=67e30f6f72e7e7ba1370f74a3ad952a3d951f9dd

Peercoin v0.9 Released!

We are pleased to announce that after many hard months of work, Peercoin v0.9 (Codename Strider) is complete and a hard fork is planned for Monday, June 8th, 2020 at 12:00:00 UTC. You must upgrade your wallet client before then!

Changelog:

Peercoin release v0.9.0
  • RFC-0019: PoW Block Spacing
  • RFC-0018: PoS Rewards Adjustment
  • RFC-0017: Limit Effective Coinage to One Year
  • RFC-0015: Reduce Time Drift
  • allow staking=0 command to disable minting
  • ability to filter out mint transactions in the QT wallet

Summary

While Peercoin v0.8 (Mantis) was largely about modernizing the codebase and improving the technical capabilities of the reference node software, the v0.9 (Strider) development cycle was about the economics of the Peercoin cryptocurrrency.
Both the PoW and PoS aspects of the network have been modified. Proof-of-Work changes are rather minimal; in summary target block spacing has been set to 60 minutes, rather than having dynamic PoW block spacing target. Block spacing is currently approximately 60 minutes anyway, so this may not sound like a big change, but it stops some PoW pools from trying to game the system. By making PoW more predictable, RFC-0019 brings inflationary stability to the overall system.
That change is minor when compared to the modification of the Proof-of-Stake side of the system. Some of you may have been following the discussion on RFC-0011, which was ongoing for over a year, and you may have noticed that RFC-0011 was rejected about two weeks ago and replaced with RFC-0018.
In my personal opinion, RFC-0011 is a great idea, probably the best idea thrown around here in the last couple of years, but ultimately it's too complex and we could not get consensus about it. The gist of both RFC-0011 and RFC-0018 is that the Peercoin money supply inflates at a rate of 1% on paper, but we are nowhere near that in practice.
In the old system, in order to have PoS inflation at 1%, a full 100% of all peercoins would have to start minting and solving blocks. This is simply impossible. In reality, over the last couple years Peercoin's PoS inflation has only been between 0.10% and 0.20%, which is far from the "promised" annual 1%. Due to the very rough history of this beautiful blockchain, namely the closure of btc-e, dozens of exchange hacks and closures, as well as a couple of de-listings, we are in a situation today where nearly half of the monetary supply has not been moved for over two years and we can consider those coins lost for all intents and purposes.
The basic principle of RFC-0011 was the following: the Peercoin network promises a steady inflation of 1% on monetary supply, and if you want a cut of it: mint. In essence, if only 20% of all peercoins are minting, the effective reward for active minters would be closer to 5% per year. However, the problem with this scheme is that minters would try to game the system and only mint when minting participation is low. Thus, we came up with RFC-0018, which yields similar results, but keeps the reward calculation simple and prevents gaming of the algorithm. You can read more about the change here.
Long story short, the network will reward active minters more, while keeping the overall inflation around 1%.
Accompanied with an expected inflation drop from increasing PoW hashrate, overall monetary inflation will largely remain unchanged, and will be more stable.
Other changes are minor and do not change the behavior of the network. RFC-0017 is just a consequence of RFC-11, and it stops minters from going offline for longer than a year and coming back to mint. We did not see this as fair, so the coinage counter is reset after a year now. Limiting coinage disincentivizes extremely long term periodic minting, thereby making continuous minting more attractive.
-- Peerchemist, Peercoin Project Lead

Upgrade Instructions

Before installation, make sure to backup your wallet from the main menu.
The v0.9 client can be downloaded from the wallets page of peercoin.net. For users upgrading from v0.8, upgrade instructions can also be found on that page.
For the minority of users that may have skipped v0.8 and are upgrading from v0.7 or earlier, please check these additional instructions from the previous v0.8 release thread as you will need to go through the additional process of rebuilding your block database. If you need help with installation, leave a comment below.

Conclusion

To stay informed as we get closer to the hard fork date, you can follow the latest Peercoin news on our forums, our Twitter, or Reddit.
Other places to follow us:
Facebook LinkedIn BitcoinTalk Youtube Medium
Don't forget you can see the latest updates using the Blockfolio and Delta Apps!
Download Link: https://github.com/peercoin/peercoin/releases/tag/v0.9.0ppc
Final reminder: The upgrade deadline is planned for June 8th, 2020 at 12:00:00 UTC
submitted by Sentinelrv to CryptoCurrency [link] [comments]

How we just won WW3

How we just won WW3 🇺🇸
My theory:
My buddies in the armed forces have not been in touch with me especially during this lockdown supposedly. I found that strange during a peace time lock down and figured these guys would get a much needed break.
If you think our military is weak I will let you know we have technology and weapons that would make your hair stand up on the back of your neck.
Now let’s jump back to the 70’s where the ME is the worlds oil supplier and the OPEC cartel is running us in to the ground. We “befriend” them and by giving them lots of money. We actually gave them the first US mint press to every leave the treasury in history.
We slowly gained control with money over the oil, then we had to get worried about China coming back those commie f*cks along with the Russians. They were going to become huge problems with nukes and technology in the future.
Those countries been in the news lately? We printed money to infinity but we are the peg currency for the world. China has printed more money than any government including Zimbabwe at this point and they are going tits up.
Let me explain: if we made the paper US dollar illegal, just like we make gold illegal 100 years ago, that would mean tha the dollar that we have been printing is not worthless, it’s contraband.
The secret service tracks money. Remember those Blue Face Hunnids? Those are the easiest tracked currencies ever made. Bitcoin? Every illegal transaction has a time stamp and amount and that info is public. The NSA is recording every phone call in the world right now and the criminals, drug dealers, human traffickers, and terrorist networks can’t operate without cash and being connected. How do you think Mexican supply chains for drugs are doing right now? Do you think they are smart enough to not be tracked by the NSA.
My prediction: My special forces buddies haven’t spoken to me in months. They all have top secret security clearances so 99% of what they know that can’t tell me or anyone anyway. I think they are preparing to go in and end the evil that has ravaged America for so long.
The second paper currency is declared illegal navy seals will be visiting drug warehouses filled with cash and kill enemy combatants holding illegal treasury notes property of Uncle Sam. If you are a terrorist in another country a tomahawk missile will hit your f*cking forehead from 30,000 feet. Every drug dealer in America’s supply chain will go to prison. Money laundering laws are the strictest in US history.
Now, let’s get back to our new “friendly’ communists that killed 100 million people last century.
China and Russia are printing money fighting over oil and I just told you oil isn’t worth anything.
The MBS bond market is about to go up in smoke and will make 07 look like child’s play. Now we couldn’t give it all to our communist friends but we tried, sorry DB you’re idiots.
So China has bankrupted themselves following is the arrogant commies they are right off a cliff.
We know where every one of their citizens are in real time and know their face and identity. Now do you get why google was helping them spy on their own citizens? They let us build a commie tracking system and if someone says the CCP out loud they will be killed by us immediately. Forever.
We just won WW3 and no one even knows we were playing. Especially the Chinese and Russians. They are now the most over leveraged debt pools in the world.
How are we doing? We are buying up assets like gold, oil, private label bonds, with WORTHLESS paper and about to do the greatest magic show of all time to USDe. If you make a million in your brokerage you’re good! If you sell drugs, you’re going to a dark place for a long time or the lights are about to be shut off by the Chris Kyle’s of the world.
Why do you think JPM moved to a standard where you can only do a loan with chase if you are already a client? Because you need to have legal currency in the bank electronically.
Congrats guys, we now have surveillance on our commie enemies 24/7, 365 and they are bankrupt. They will sign on the line that is dotted or they will all die immediately. It took Japan a while to catch on to, but they surrendered when we needed two cities in 15 minutes. Because everyone since the British has surrendered to us and we don’t f*cking lose.
America’s weak? We just took out every evil organization and government in the world and they have NO clue. Now that’s some fucking monopoly.
It’s going to get worse before it gets better but know that we won and will be able to fix everything fucked very quickly....because our enemies are holding the bag.
USA USA USA 🇺🇸
submitted by MarginMiguel69 to wallstreetbets [link] [comments]

Why I think Ren is a game-changer for decentralized finance.

I'm Ken the author of The Weekly Coin newsletter, where every week I highlight high potential lower cap cryptocurrency projects one might have overlooked, the projects listed beyond the first page of CoinMarketCap. The Weekly Coin is merely a jumping-off point for you to do your own research.
If you're interested you can sign up for The Weekly Coin here. No ads, no spam, just the results of my research.
This week in The Weekly Coin we’re highlighting Ren. Ren currently lands on the 77th slot on CoinMarketCap. Yea, it's not hidden in the realms of the 2nd CMC pages and beyond. But, after researching this coin, I think it's a game-changer for DeFi and well, the cryptocurrency world as a whole. Also important to note is that I'm not invested in Ren, no one paid me to write this, and of course, I'm not a financial adviser. 😁
TL;DR
Ren allows the free movement of value between all blockchains and transfer of tokens in zero-knowledge. Unlocking new liquidity and resources to power a new wave of value in the open finance movement. With Ren all decentralized applications can run in secret, preserving the privacy of all users and data. (Renproject.io)

What is Ren?

Ren had humble beginnings as a project called Republic Protocol. Republic Protocol launched in 2017 and had their ICO on February 3, 2018. The platform focused on providing decentralized dark pools. A dark pool is a term used in traditional finance for anonymous over-the-counter (OTC) order books without moving the market (more on dark pools here). Republic Protocol's decentralized dark pools were specially designed to combat OTC trading which is known for their high fees and also to help increase institutional money flow into crypto. The technology behind these decentralized dark pools is called RenVM.
💡 Institutional investors want to get in the game but are staying on the sidelines until crypto has matured and risk is low.
RenVM turned out to be the perfect solution for interoperability between blockchains. This is because in a decentralized dark pool blockchains need to see each other. Republic Protocol then saw how massive this opportunity was and rebranded to Ren.
Ren is the evolution of the technology that underpins RepublicProtocol, in its most useful and general form. It becomes something much bigger than Republic Protocol and will empower developers to build decentralized and trustless applications, with a distinct focus on financial applications. Using our own newly developed secure multiparty computation protocol, all DeFi applications will have access to interoperable liquidity and run in complete secrecy. (Ren —The Evolution of a Protocol)
💡 To dumb it down a bit, Ren is the organization's name, REN is the ERC-20 based token, and RenVM is Ren’s core product.

Token use

To put simply, for now, the REN token is used as a work token. The token is used as a bond to run a Darknode. What is a Darknode?
RenVM is replicated over thousands of machines that work together to power it, contributing their network bandwidth, their computational power, and their storage capacity. These machines are known as Darknodes.
Darknodes communicate with other Darknodes around the world to keep RenVM running. Without them, there is no virtual machine upon which Ren can exist. RenVM uses Byzantine Fault Tolerant consensus algorithms and secure multiparty computations so that Darknodes can be operated by anyone without needing to trust them. This is what makes RenVM — and by extension, Ren itself — decentralized, trustless, and private. (Ren Documentation)
Ok so now we know what a Darknode is but what is REN Tokens used for?
The decentralized network of Darknodes is permissionless, but to prevent the forging of a large number of identities a good behavior a bond of 100,000 REN tokens is required in order to register and run a Darknode. This prevents malicious adversaries from running an unbounded number of Darknodes and overwhelming the network with misbehaving Darknodes. (Ren Documentation)
As stated, to run a Darknode you'll need 100,000 REN. You can liken this to Proof of Stake (PoS) systems in which you stake a certain currency to encourage honest behavior in block production. The benefits of running a Darknode is you will be paid transaction fees. Initially, the fees were paid in REN tokens but now Darknode operators can be paid other cryptocurrencies such as BTC, ETH, ZEC, and other ERC20 tokens.
The REN token is required to run a Darknode but the tokens are not required to use RenVM. Let’s say someone wants to acquire BAT with their BTC using a RenVM enabled DEX; where would they get the REN to preform the transaction? A centralized exchange? That defeats the purpose. A decentralized exchange? They'd need ETH or an ERC-20 token. Idk if you've used Uniswap before but you don't need an Uniswap token to swap, send, or pool. Using the RenVM is similar, you don't need to use the REN token.

Why I think Ren is a game-changer

With around 900 million dollars locked up in DeFi it's no secret that DeFi is booming right now. Go to DeFi Pulse and take a look at which chains all the DeFi applications are being built on, go on. What you'll see is every application is built on Ethereum.
Ethereum has a smart contract platform for business logic, whereas Bitcoin doesn't. You can loan and mint something like DAI without trusting an intermediary, all of this is done on Ethereum. But what if you wanted to use Bitcoin on a DEX to get DAI? Another problem is Ethereum doesn't know Bitcoin exists and vice versa. Ren fixes this. You can trade Bitcoin on a DEX like Uniswap against Ethereum or mint Dai with Bitcoin. Check out this Github repo outlining how to enable BTC and ZEC in Uniswap. As a developer of a decentralized exchange myself, I think this is huge. 🔥
Well you might be saying "We have wrapped Bitcoin", well wBTC isn't actually Bitcoin, it's more like an IOU token or a proxy. An imposter!
Well, you might be saying "We have Atomic Swaps", well Atomic Swaps are slow and a bit annoying and complex. The two parties looking to transact have to send the transaction, wait for confirmation, then send a transaction and then finally wait for a confirmation. What if the internet goes down for a person in the party? What happens if the market gets flooded?
With the RenVM it's only one transaction, it's quick, easy, and you send actual Bitcoin. There is also no need for specialized software. The RenVM takes care of it all. Check out these examples of RenVM in action.
https://youtu.be/7nqTpNt4BD0
https://youtu.be/FfQ5gBbhzlc
Also, check out Ren's Chaos Dex where you can swap SAI (DAI) for BTC or ZEC. For more information on Chaos Dex go here. Idk about you but this stuff blows my mind.
Ren is in talks with dApps in the DeFi space making sure RenVM is aligned with their platforms. There also is documentation and integrations for you to build on RenVM. Ren also 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)
Also, Important to note is Ren has top tier investors in the likes of FGB Capital, Polychain Capital, and Kenetic Capital. But its headlining investor is crypto giant Huobi, which this past July launched its Huobi Cloud platform for OTC desks. Work is being done and a lot of progress is being made.

Why do we even need Interoperability?

I'm gonna yank the text straight from an article by Capgemini which explains the benefits of interoperability quite nicely.
The blockchain-based networks are being built to offer specific capabilities such as making payments, storing and trading assets and others. However, these capabilities are being offered in isolation where these networks don’t talk to each other and cannot share data. Existing centralized systems have evolved to offer the same capabilities in a more integrated way where these systems are able to run end to end transactions seamlessly making it easier for users.
If blockchain-based networks have to make a strong case for their adoption, they have to be able to work with each other and offer this seamless integration of capabilities to their users.
Strong interoperability would give users a much more useful, user-friendly experience. With this interoperability, users will be able to experience the seamless integration of capabilities being offered by the blockchain-based networks. If we have to hypothesize an example, it would look something like this – User will be able to tokenize the asset (e.g. artwork) over Ethereum based DApp, will be able to transfer the tokenized asset to another address over Cardano, and pay any corresponding transaction fees over the bitcoin network. (Capgemini)
The cryptocurrency space is pretty fragmented at times. There also is a bunch of tribalism. It can be a bit annoying. One coin makes massive efforts over here and another coin is making massive efforts over there. What if we could combine the efforts into one big force of nature? I think we can take over the world. Which, would be, huge.
Idk about y’all but I’m gonna be following the Ren team to see what they come up with. The impact this coin can have could be massive. I think Ren is definitely a coin you should look at.
submitted by Raleigh_CA to CryptoCurrency [link] [comments]

Frequently Asked Questions (Constantly Updated)

This is where you can find answers to some of the most frequently asked questions. If you can't find what you are looking for then perhaps try browsing our WIKI, or one of our past AMA Recaps!
The "most asked" questions are listed first. These will consistently change to reflect Kava's current landscape.

Relevant Questions (Timely)






Crypto Payday


  • How do I qualify for Crypto Payday?
    • Use Kava's DeFi Lending Platform to mint USDX.
      • Currently USDX can only be minted w/ BNB.

  • When are Crypto Paydays?
    • Every Wednesday.
      • Staring July 15th, 2020
      • Ending July 16th, 2021

  • Where can I go to mint BNB?
    • The new features will be accessible via integrated wallet and exchange applications such as Cosmostation, Forbole, Trust Wallet, and Frontier.

DeFi Lending Platform


  • What assets does Kava's DeFi Lending Platform currently support?
    • BNB

  • What are the next assets that will be supported by Kava's DeFi Lending Platform?
    • They Kava community will vote for the next supported asset.
      • Leading contenders are BTC, XRP, and Atom.

  • How are loans given out?
    • Once a user deposits collateral, loans are given out via USDX (Kava's Stable Token)

  • How much USD is USDX worth?
    • Each USDX is the equivalent of $1 (USD)

  • What should I do w/ my USDX?
    • Starting on June 10th you'll be able to begin earning minting rewards on your USDX via Kava's Crypto PayDay promotion.
    • In the very near future (Possibly Late June/Early July) USDX will be listed on exchanges, and can be used to purchase more crypto (Margin Trading) or can be cashed out.
    • Those who mint USDX prior to it's exchange listings will be considered "Early Adopters"

  • Why should I become an Early Adopter of the Kava DeFi Lending Platform?
    • Early Adopters who use the DeFi Lending platform prior to a USDX exchange listing should be doing so for the purpose of leveraging their existing BNB.
      • Early Adopters can take advantage of the Kava Payday rewards, which are likely to off their highest yield within the early stages of the promotion.

  • How/where can I access Kava's DeFi Lending Features?
    • The new features will be accessible via integrated wallet and exchange applications such as Cosmostation, Forbole, Trust Wallet, and Frontier.

  • What happens if my BNB deposit drops in price and becomes undercollateralized?
    • Similar to a traditional margin call, users will be required to deposit more assets (BNB) to bring their collateral back up to par with the loan they have minted.
    • Users will also be able to use their USDX to pay back the loan.
      • Thus, allowing the users to unlock and reclaim their deposits (BNB)

  • How is Kava different from MakerDao?
    • Maker Dao only accepts Ethereum based crypto assets, but Kava accepts all crypto assets!

  • Where can I go to learn more about Kava's DeFi Lending Platform?

Kava Token


  • What is the Kava Token?
    • The Kava Token is a fungible crypto asset of the Kava Blockchain.
    • It is a token that is native to the Kava Blockchain.

  • Where is the Kava Token currently Traded?
    • In 2019, The Kava Token became the first DeFi asset to be tradeable on Binance.
    • Besides from Binance, the Kava Token is available on over a dozen different exchanges including BitMax, MXC, and CoinOne.
    • For a complete list, check out Kava's Market Pairs Page on CoinMarketCap

  • Is the Kava Token currently on any American exchanges?
    • Currently there are not any American exchanges that are trading the Kava Token.
    • Kava works very closely w/ the US Securities & Exchange Comitee to make sure that everything Kava does falls within their guidelines.
      • When the time is right, Kava will be listed on American Exchanges.
      • It is a goal to be listed on American Exchanges, before the end of 2020.

  • How can Americans hold Kava?
    • Kava can be traded amongst users via a multitude of different wallets.
      • Including: Binance, Trust Wallet, Frontier Wallet, Forbole, and Cosmostation amongst many others.

  • What is Kava's Ticker Symbol?
    • The Kava token is traded as:
      • KAVA (all caps)

  • How much of the Kava Token is currently staked?

USDX



  • Is USDX currently listed on any exchanges?
    • As of June 2020, USDX is not currently listed on exchanges.
    • The goal is to get USDX listed on multiple exchanges shortly after the June 10th launch of Kava's DeFi Lending Platform
      • July 2020 is a hopeful time window for USDX listings

  • What is the ticker associated w/ USDX
    • The ticker is listed as:
      • USDX (all caps)


  • Why is USDX valuable?
    • USDX is the highest earning USD denominated account available for modern investors.
      • USDX offers superior yields without additional risk compared to traditional alternatives like checking and savings accounts that only deliver miniscule returns.

Kava General





  • Who are the Kava Knights?
    • The Kava Knights are an unofficial community group which is composed of the most loyal and dedicated of Kava Enthusiasts.
    • Kava may work w/ The Knights at times to co-promote contests and other community engaging activities, but they remain are not an official Kava community.


  • What set's Kava apart from similar projects?

  • Where should I go if I'm looking to become a validator?


  • Why did Kava choose to build with Cosmos?

  • When did Kava's mainnet go live?
    • Kava's mainnet when live in Autumn of 2019

  • What about Kava's CDP Mainnet?
    • Kava will launch it's CDP Mainnet on June 10th, 2020
      • This will be used to support Kava's DeFi Lending Platform
      • View the official announcement! (Coming Soon)



General Questions



  • What does "Cross Chain DeFi Platform" mean?

  • When does "CDP" stand for?
    • CDP stands for Collateralized Debt Position


  • Why do people use DeFi Lending Platforms?
    • DeFi Lending Platforms are used to take out loans.
      • Users deposit crypto as collateral, and then they receive a loan paid out in Stable Coins.
      • Kava currently accepts BNB as collateral, and pays out loans in USDX (Stable Coin)
      • People can use their loans for anything their hearts desire, but most will choose to use the funds to facilitate Margin Trading

  • What is minting?
    • Whenever a user deposits assets into a DeFi Lending Platform as collateral, they recieve a loan paid out in stable coins.
      • Prior to this loan, those stable coins did not exist.
      • The stable coins were "Minted" as a direct result of collateralization that spawned the loan.
    • In regards to Kava, users deposit collateral (like BNB) in order to "mint" USDX - which ultimately represents the loan that the user will receive.
submitted by Kava_Mod to KavaUSDX [link] [comments]

tBTC an erc20 wrapped version of BTC, like erc20 wBTC; but is trustless and does not require a centralised party to mint wrapped btc like wBTC

I found this article on /Ethereum though it didnt go into the specs of how this works:
https://np.reddit.com/ethereum/comments/ftqdna/bitcoin_to_ethereum_bridge_raises_77_million_in/
https://decrypt.co/24336/bitcoin-to-ethereum-bridge-raises-7-7-million-in-token-sale?utm_source=reddit&utm_medium=social&utm_campaign=sm
as the article says wrapped bitcoin has been done before e.g. wBTC but wBTC requires a centralised party to mint wBTC from BTC held by this party; making it out of the question as its centralised.
did some digging there is a whitepaper , but i wanted more details on the tBTC implementation.
I went on their github and looked at the readme on some projects; found a few interesting things, though not an entire explanation.
https://github.com/keep-network/tbtc
tBTC is a trustlessly Bitcoin-backed ERC-20 token.
The goal of the project is to provide a stronger 2-way peg than federated sidechains like Liquid, expanding use cases possible via today’s Bitcoin network, while bringing superior money to other chains.
This repo contains the Solidity smart contracts and specification.
https://github.com/keep-network/tbtc
tbtc.js provides JS bindings to the tBTC system. The tBTC system is a bonded, multi-federated peg made up of many deposits backed by single-use BTC wallets to enable their value’s corresponding usage on the Ethereum chain, primarily through the minting of a TBTC ERC20 token whose supply is guaranteed to be backed by at least 1 BTC per TBTC in circulation.
finally this is the best:
https://tbtc.network/developers/tbtc-technical-system-overview
here is the first few pargarphs
2020-04-01 tBTC incorporates novel design features that carry important implications for users. This piece explains four of these: TDT receipts, multiple lot sizes, Keep's random beacon, and threshold signatures.
TBTC Deposit Token (TDT) The TBTC Deposit Token (TDT) is a non-fungible token that is minted when a user requests a deposit. A TDT is a non-fungible ERC-721 token that serves as a counterpart to TBTC. It represents a claim to a deposit's underlying UTXO on the Bitcoin blockchain.
TBTC deposits can be locked or unlocked. A locked deposit can only be redeemed by the deposit owner with the corresponding TDT. Each TDT is unique to the deposit that mints it and carries the exclusive right for up to a 6 month term to redeem the deposit.
also this paragraph addresses creating wallets with the created tokens
Random Beacon for Signer Selection
The Keep network requires a trusted source of randomness to select tBTC signers. This takes the form of a BLS Threshold Relay.
When a request comes in to create a signing group, the tBTC system uses a random seed from a secure decentralized random beacon to randomly select signing group members from the eligible pool of signers. These signers coordinate a distributed key generation protocol that results in a public ECDSA key for the group, which is used to produce a wallet address that is then published to the host chain. This completes the signer selection phase.
my take away from this is that by using side chains that a trustless, not fedeared like liquid bitcoin sidechains sold by blockstream. it uses NFT erc-721 tokens as representation of the bitccoin UTXO from the bitcoin blockchain, store it in a wallet and mint it into tBTC. given this is all smart contracts generating wallets and minting the tBTC, it does away with the need of a centralised party to provide the funds of BTC to create a wrapped erc20 version on ethereum and so should be trustles.
perhaps erc20 token trading is the way to go forward. just requires wrapping of exisitng tokens. this looks promising for DeXs and DeFi if it happens.
also opens the possibiliy of multicollateral Dai (MCD) using tBTC in addition to eth and BAT. though personally i think btc should not be used in MCD.
any thoughts on this? or if my understanding is off.
thanks
edit: got some more info from px403
I talked to James a bit about tBTC in Osaka, so I have a vague idea of how it works, so I might be able to explain it in a somewhat coherent way.
Basically, the magic here is they reimplemented Bitcoin's SPV as an Ethereum smart contract, effectively letting them query the current state of the Bitcoin network, including validity of payments, directly in contract. Using this, they built an auction system where people can at any time claim ETH by paying BTC, or claim BTC by paying ETH. By design the spread is wide, so this isn't actually intended to be a high volume exchange, but what you do get is a pretty good price oracle.
From the price oracle, I think there were doing some Maker style CDPs or something, where people could lock up their BTC on the Bitcoin network to redeem tBTC, and any of the locked BTC could be reclaimed by burning tBTC or something.
Sorry it's not a complete picture of what's going on, but I think that's the general gist of what they're doing.
submitted by Neophyte- to CryptoTechnology [link] [comments]

Hybrix: Blockchain for all chains

Third party services currently assist users to exchange one form of digital cash or asset for another, but a trusted third party is still required to mediate these transactions.
We propose a solution to the problem of these isolated digital currency systems using a meta-level transfer protocol with an extendable and modular design, making accessible any kind of ledger-based economy or other digital cash system for cross-blockchain and inter-systemic transactions.
Every hybrix protocol transaction yields profit to these respective ecosystems by paying transaction fees to their network supporting miners and stakers.
Technically Bitcoin earlier on had solved some of the problems of the reversibility of transactions and trust issues that plagued online commerce new players in the arena are offering replacements for Bitcoin's peer-to-peer payment solution.
Its transactions are stored in a data block inside the attachment section of a zero-value transaction on any distributed ledger system.
Transactions containing meta data pay the usual fees denominated in the base currency Our proposal is to create a protocol - called hybrix protocol -as a cross-ledger colored coin, making it technically borderless and not bound to a single ledger system.
Intersystemic transaction A transaction occurring between two distinct ledger systems.
Entanglement Informational connection between two transactions on separate ledger systems, that functionally relate them as a cross-ledger transaction.
Validator Network actor that analyses past transactions and makes available the legitimacy of these transactions according to the rules of the system protocol.
Double spend A transaction that illegitimately increases the money supply in a ledger system.
Immutability of past transactions attachment The data included with a transaction, sometimes called message or in the case of Bitcoin and its derived coins - OP RETURN. Primarily used on most ledger systems for annotation of the transaction.
Transactions have a unique transaction id OPRETURN An Bitcoin script opcode used to mark a transaction output as an attachment field for storing data 3 invalid.
Figure 2: The parsing function p parses the attachment of the base transaction into the required fields.
Intersystemic Transactions 3.2 Structured Data on a Ledger We define an electronic intersystemic token as a block of structured data that is inserted into the attachment section of a zerovalue transaction on a distributed ledger system.
The content of the attachment of transaction on a base ledger can be parsed into a second layer transaction of the meta ledger.
A parsing function p will extract the required meta transaction details from the base transactions attachment as well as using details from the base transaction that are still relevant.
Token ownership is secured by the underlying ledger system every time a transaction is done.
Each owner transfers their zero-value transaction containing the token data to another owner by digitally signing a hash of the previous transaction and the current transaction.
The only thing that is added to the recipe is the ledger symbol, and transaction hash of where the verification hash can be found.
Subsequently the token is minted on the same address using a followup transaction 3.
cross-ledger entangled transactions Other Types of Transactions tion and then choosing a branch that has not yet been validated.
When a transaction contains more data than a ledger system can handle in its attachmentstorage space, the transaction may be split up, and sent using a transaction accompaniedby tailing part transactions that complete thecontents of the entire operation 7.
A swap transaction is legitimate when the counterparty responds to a swap proposal using a signing transaction.
Finally a burn transaction returns spendable HRC1 token balance to address E on the Ethereum chain 9.
In case of a collision, validators will only accept the recipe that was proven first by way of the genesis transaction.
The older genesis transaction must also be recorded in the recipe, so the chain of mutations can be followed and approved by validators.
Validators check a new incoming recipe for validity first, by comparing its hashes with available data in the blockchain, and authenticating that the updated genesis transaction has been done using the same secret key as the first genesis transaction.
Validation of Transactions DR AF T 6 5 6.1 Mutation of Monetary Supply Validation as a Service External validation should be handled in a decentralized manner using a consensus amongst multiple validator nodes.
If a transaction fee is enforced by the ruleset, the supply is subtracted from on every transaction.
7 7 Examinations 7.1 Validating the Validators Validators need to be rigorously examined in order to find out if they are properly doing their job of validating transactions on the chains.
In the case that all is going according to plan validators check the transactions and record their findings for the public truthfully.
In sending a transaction they can opt to pay a higher fee, and this will result in more validators eager to validate the user's chain of transactions.
A decentralized consensus state database maintained by a pool of validators will consist of a sub tree Tn0 where n increments with each state update, providing a snapshot of the agreed upon valid transaction tree.
To ensure the recovery from a 51% attack on any one single chain, snapshotting by validators could enable network users to request the verification of the current ledger and balances state, regardless of a transaction history tainted by 51% attack damage.
Common hybrix Index Storing the genesis transaction ID, or other hash information in every transaction would require a significant amount of blockchain storage as the volume of transactions grows.
The token protocol Omni, on the contrary, uses an index number for the asset ID in every transaction.
Where less computing and storage resources are available a hybrixjslib client can be used to sign and interpret transactions and get necessary data from a publicly available hybrixd node API. AF T Deterministic Libraries and API Connectors For a meta ledger we define a seed k KL¯ that can be used to generate a corresponding key pair in each base ledger using the function χL¯ : L¯ K(` ) χL,j :K L j DR 9 ψL : KL AL We connect to a large variety of blockchain APIs using a peer-to-peer network daemon called hybrixd 10.
Deterministic functions are used to generate key pairs for all included 10 Conclusion We have proposed a system for meta-level transfers across multiple distributed ledgers 10 Notes without relying on centralized exchanges or decentralized atomic transaction compatibility.
The process of moving value between ledger systems is not controlled by a centralized party, as transactions can be created and signed client-side and sent peer-to-peer among users.
We started with the usual framework of second-layer tokens specified by storing data attached to transactions, which provides a method of accounting on top of existing ledgersystems, but is incomplete without a way to prevent double-spending.
submitted by ramanpandwar to XeraExchange [link] [comments]

The latest attempt to bring Bitcoin on the Ethereum blockchain goes live

The latest implementation of Bitcoin on the Ethereum blockchain appears to have quietly gone live recently. According to Etherscan, there are 1.24 renBTC live on the Ethereum mainnet at the moment. A CoinDesk report claims that its part of the Ren smart contract, which has seemingly gone live ahead of its launch.
Kain Warwick of Synthetix recently tweeted that he was the first person to hold a Bitcoin in renBTC. However, Taiyang Zhang, the CEO of the company behind the project, told CoinDesk:
While the smart contracts have been deployed on Ethereum, RenVM itself is not actually on mainnet. This is because RenVM is a distinct network separate to Ethereum. The final mainnet subzero version of RenVM won’t be deployed until later. The minted renBTC so far has been from our own internal testing [and] Kain from Synthetix testing the system. The public hasn’t been able to mint renBTC thus far.
An excerpt from a Medium post by the renBTC’s CTO, Loong Wang, reads:
Any asset minted on Ethereum by RenVM is a 1:1 backed ERC-20. This means that if you have 1 renBTC (an ERC-20), you can always redeem it for 1 BTC. It’s a direct supply peg. renBTC isn’t a synthetic, it doesn’t rely on a liquidation mechanism, and it’s not the price of Bitcoin on Ethereum. It is a one to one representation of Bitcoin on Ethereum that can be redeemed for BTC at any time, in any amount.
The contracts for three new tokens are already published in Ren’s documentation. 1.12 renZEC and a negligible amount of renBCH have already been minted. Ren is an organization that grew out of the $30 million initial coin offering (ICO) for the Republic Protocol. It was initially envisioned as a way to run dark pools – privacy-preserving trading venues where the order book is kept secret. However, Wang recently explained his company’s turn away from dark pools.
ETH had a lot of liquidity, but it was predominantly Bitcoin and USDT. So we would had to leverage things like atomic swaps, and they’re just too painful. And so we kind of turned around to say, well, we need to solve this interoperability problem before large liquidity is actually truly accessible in this space.
Source: https://thedailyblockchain.news/2020/05/26/the-latest-attempt-to-bring-bitcoin-on-the-ethereum-blockchain-goes-live/
submitted by iMakeWebsites4u to daily_blockchain_news [link] [comments]

Bitcoin Mining on Ubuntu Bitcoin mining pool - BTC.com tutorial Cloud Mining mit Bitcoin Pool - Bitcoin Pool Cloud Mining Erfahrungen Deutsch Bitcoin Generator Pool 2020 Payment Proof How to Mine Bitcoin Cash & BTC Complete Mining Tutorial & Setup with Pool Configuration Guide

MintCoin (MINT) is a cryptocurrency. MintCoin has a current supply of 24,947,260,807.982. The last known price of MintCoin is $0.000092 USD and is up 11.42% over the last 24 hours. It is currently trading on 1 active market(s) with $0.091686 traded over the last 24 hours. The Bitminter mining pool will shut down mining activities on 2020-07-01. The website will stay up until 2021-06-01 so you can cash out any crypto currency on your account. It is unfortunate to have to shut down after 9 years of mining. However, to keep going would not be fair to the few miners we have left in the pool. CGMiner is an open source C-based multi-threaded multi-pool ASIC and FPGA and it is among the most used cryptocurrency miners with support and binaries for RPi, OpenWrt routers. Grin is an experimental coin: use at your own risk! Grinmint does not guarantee any return on mining time or hashpower. You are strongly encouraged to move your rewards off the pool as often as possible into a wallet that you control. Instead, the pool takes a percentage of the Bitcoin mined (typically between 1 and 2 percent). BitMinter, CK Pool, and Slush Pool are some popular, successful, and well-established mining pools. Without a mining pool, you would have to mine potentially for years before you'd see any profit.

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Bitcoin Mining on Ubuntu

BITCOIN: SOLO MINING VS MINING POOL! Bitcoin price analysis!- bitcoin may 29 - Duration: 12:45. Tech with Catalina 2,610 views. 12:45. Inside a Secret Chinese Bitcoin Mine - Duration: 9:17. How to Mine Bitcoin Cash & BTC Complete Mining Tutorial & Setup with Pool Configuration Guide using top industry ASIC from Bitmain. Bitcoin and Bitcoin Cash both mine under the SHA256 algorithm so ... Bitcoin Pool ist einer der beliebtesten Cloud Mining Anbieter im Vergleich. Inwiefern Das Cloud Mining mit Bitcoin Pool zu empfehlen ist erfährst du jetzt. BitCoin mining on Ubuntu using specialized ASIC procesors and Ubuntu software such as: CGMiner, BFGMiner, EasyMiner https://linuxhint.com/best-usb-bitcoin-mi... What it really takes to mine a Bitcoin in 10 Minutes. Firstly I'll show you a special free method to mine Bitcoin and send funds directly to your wallet in 10 minutes! Of course it doesn't ...