Bitcoin Core Verifying Blocks - MK Logistics

Vitalik's Tweet Storm - History and state of Ethereum's Casper research

His tweet here
Today I am going to make a tweet storm explaining the history and state of Ethereum's Casper research, including the FFG vs CBC wars, the hybrid => full switch, the role of randomness, mechanism design issues, and more.
Ethereum proof of stake research began in Jan 2014 with Slasher Though the algorithm is highly suboptimal, it introduced some important ideas, most particularly the use of penalties to solve the nothing at stake problem. That said, the penalties that I used were very small, only canceling out signing rewards. Vlad Zamfir joined in mid-2014, and he quickly moved toward requiring validators to put down deposits, much larger in size than rewards, that could be taken away for misbehavior. Here's Vlad's retelling
We spent much of late 2014 trying to deal with "long range attacks", where attackers withdraw their stake from deposits on the main chain, and use it to create an alternate "attack chain" with more signatures than the main chain, that they could fool clients into switching to. If the attack chain diverges from the main chain at a fairly recent point in time, this is not a problem, because if validators sign two conflicting messages for the two conflicting chains this can be used as evidence to penalize them and take away their deposits.
But if the divergence happened long ago (hence, long range attack), attackers could withdraw their deposits, preventing penalties on either chain. We eventually decided that long range attacks are unavoidable for pretty much the reasons PoW proponents say. However, we did not accept their conclusions. We realized that we could deal with long range attacks by introducing an additional security assumption: that clients log on at least once every four months (and deposits take four months to withdraw), and clients simply refuse to revert further than that. This was anathema to PoW proponents because it feels like a trust assumption: you need to get the blockchain from some trusted source when you sync for the first time. But to us dirty subjectivists, it did not seem like a big deal; you need some trusted source to tell you what the consensus rules of the blockchain are in any case (and don't forget software updates), so the additional trust required by this PoS assumption is not large. Here's Vlad's retelling
Now that we settled on deposits and penalties, we had to decide what those deposits and penalties are. We knew that we wanted an "economic finality" property, where validators would sign on blocks in such a way that once a block was "finalized", no conflicting block could be finalized without a large portion of validators having to sign messages that conflict with their earlier messages in a way that the blockchain could detect, and hence penalize. I went on a big long, and ultimately unproductive, tangent on a direction I called "consensus by bet
Consensus by bet was an interesting construction where validators would make bets on which block would be finalized, and the bets themselves determined which chain the consensus would favor. The theory was that PoW also has this property, as mining is a bet where if you bet on the right chain, you gain (reward - mining cost), and if you bet on the wrong chain, you lose the mining cost, except with PoS we could push the odds on the bets much higher. The odds on validators' bets would start off low, but as validators saw each other getting more and more confident about a block, everyone's odds would rise exponentially, in parallel, until eventually they would bet their entire deposits on a block. This would be "finality".
In the meantime, Vlad started heavily researching mechanism design, particularly with an eye to making Casper more robust against oligopolies, and we also started looking at consensus algorithms inspired by traditional byzantine fault tolerance theory, such as Tendermint. Vlad decided that traditional BFT was lame (he particularly disliked hard thresholds, like the 2/3 in PBFT and Tendermint), and he would try to effectively reinvent BFT theory from scratch, using an approach that he called "Correct by Construction" (CBC). In Vlad's own words
The correct-by-construction philosophy is very different from traditional BFT, in that "finality" is entirely subjective. In CBC philosophy, validators sign messages, and if they sign a message that conflicts with their earlier message they have to submit a "justification" proving that, in the relevant sense, the new thing they are voting for "has more support" than the old thing they were voting for, and so they have a right to switch to it. To detect finality, clients look for patterns of messages that prove that the majority of validators is reliably voting for some block B in such a way that there is no way they can switch away from B without a large fraction of validators "illegally" switching their votes.
For example, if everyone votes for B, then everyone votes on a block that contains everyone's votes for B, that proves that they support B and are aware that everyone else supports B, and so they would have no legitimate cause for switching to something other than B. I eventually gave up on consensus-by-bet because the approach seemed too fundamentally risky, and so I switched back to trying to understand how algorithms like PBFT work. It took a while, but after a few months I figured it out. I managed to simplify PBFT and translate it into the blockchain context, describing it as four "slashing conditions", rules that state what combinations of messages are self-contradictory and therefore illegal if a block is finalized, then there is no way for a conflicting block to get finalized without >= 1/3 violating a slashing condition (ii) if a block is finalized, 2/3 honest validators can always cooperate to finalize a new block. So the algorithm can neither "go back on its word" nor "get stuck" as long as > 2/3 are honest.
I eventually simplified the minimal slashing conditions down from four to two, and from there came Casper the Friendly Finality Gadget (FFG), which is designed to be usable as an overlay on top of any PoW or PoS or other blockchain to add finality guarantees. Finality is a very significant advancement: once a block is finalized, it is secure regardless of network latency (unlike confirmations in PoW), and reverting the block requires >= 1/3 of validators to cheat in a way that's detectable and can be used to destroy their deposits. Hence, the cost of reverting finality can run into the billions of dollars. The Casper CBC and Casper FFG approaches both achieve this, though in technically different ways. Note that Casper CBC and Casper FFG are both "overlays" that need to be applied on top of some existing fork choice rule, though the abstractions work in different ways.
In simplest terms, in Casper CBC the finality overlay adapts to the fork choice rule, whereas in Casper FFG the fork choice rule adapts to the finality overlay. Vlad's initial preference for the fork choice rule was "latest message-driven GHOST", an adaptation of GHOST to proof of stake, and my initial preference was to start off with hybrid PoS, using proof of work as the base fork choice rule. In the initial version of Casper FFG, proof of work would "run" the chain block-by-block, and the proof of stake would follow close behind to finalize blocks. Casper CBC was full proof of stake from the start. At the same time, Vlad and I were both coming up with our own respective schools of thought on the theory of consensus incentivization. Here, a very important distinction is between uniquely attributable faults, where you can tell who was responsible and so can penalize them, and non-uniquely attributable faults, where one of multiple parties could have caused the fault.
The classic case of a non-uniquely-attributable fault is going offline vs censorship, also called "speaker-listener fault equivalence". Penalizing uniquely attributable faults (eg. Casper FFG slashing conditions) is easy. Penalizing non-unquely-attributable faults is hard. What if you can't tell if blocks stopped finalizing because a minority went offline or because a majority is censoring the minority? There are basically 3 schools of thought on this issue:
In November 2017, the Casper FFG slashing conditions, plus my ideas for solving "the 1/3 go offline" problem through a "quadratic leak" mechanism, became a paper . Of course, I was well aware that appealing to the social layer to solve 51% attacks was not a very nice thing to do, so I started looking for ways to at least allow online clients to automatically detect which chain is "legitimate" and which is the "attack" in real time.
Here is one of my earlier ideas It was something, but still suboptimal; unless network latency was exactly zero, there was only a guarantee that clients' suspicion scores would differ by at most delta, not that clients would fully agree In the meantime, my main criticism of Vlad's model had to do with "discouragement attacks", where attackers could credibly threaten to make a 51% attack that causes everyone to lose money, thereby driving everyone else to drop out, thus dominating the chain at near-zero cost. Vlad (along with Georgios Piliouras) started doing economic modeling to estimate the actual cost of such an attack under his model.
It's worth noting here that all of these issues are not unique to proof of stake. In fact, in proof of work, people tend to simply give up and assume preventing 51% attacks is outright impossible, and a 51% attack is a doomsday that must be prevented at all costs. But, as is the Ethereum tradition, Vlad and I were both unaware that the word "ambitious" can be anything but a compliment, and kept on working on our separate approaches to disincentivizing, mitigating and recovering from 51% attacks.
In early 2018, Vlad's work on CBC started to move forward quickly, with great progess on safety proofs. For the state of progress in March 2018, see this epic two-hour presentation In the meantime, Casper FFG was making huge progress. A decision to implement it as a contract that would be published to the Ethereum blockchain made development easy. On Dec 31, 2017 at 23:40, we released a testnet written in python
Unfortunately, development of FFG then slowed down. The decision to implement FFG as a contract made some things easier, but it made other things harder, and it also meant that the eventual switch from EVM to EWASM, and single-chain Casper to sharded Casper, would be harder. In addition, the team's work was being split between "main chain Casper" and "shard chain Casper" and it was clear there was enormous unneeded duplication of effort going on between the Casper and sharding teams.
In June 2018, we made the fateful decision to scrap "hybrid Casper FFG as a contract", and instead pursue full Casper as an independent chain, designed in such a way that integrating sharding would be much easier. The switch to full proof of stake led me to start thinking much harder about proof of stake fork choice rules. Casper FFG (and CBC) both require the entire validator set to vote in every "epoch" to finalize blocks, meaning there would be tens to hundreds of signatures coming in every second. BLS signature aggregation makes this practical in terms of computational overhead but I wanted to try to take advantage of all of these extra signatures to make the chain much more "stable", getting "100 confirmations" worth of security within a few seconds.
Here were my initial attempts However, all of these approaches to the fork choice rule had a weakness: they split up validators into "attesters" and "proposers", and the proposers, being the key drivers of block production, had outsized power. This was undesirable, primarily because it required us to have a strong source of on-chain random number generation to fairly pick the proposers. And on-chain randomness is hard, with simple approaches like RANDAO looking more and more problematic
Justin Drake and I went off to solve this problem in two ways, Justin by using verifiable delay functions which have a deterministic and verifiable output, but take a large amount of unparallelizable sequential time to compute, making manipulation ahead of time impossible and myself by making a major concession to the Cult of Vlad™, using GHOST-based fork choice rules to greatly reduce the dependence on proposers, allowing the chain to grow uninterrupted even if >90% of proposers are malicious, as long as >50% of attesters are friendly.
Vlad was very happy, though not fully: he preferred a version of GHOST based on validators' latest messages, whereas I preferred a version based on immediate messages Around this time I also managed to come up with a way to "pipeline" Casper FFG, reducing time-to-finality from 2.5 epochs to the theoretically optimal 2 epochs: I was very happy that the RPJ fork choice rule (which I have since renamed "immediate message-driven GHOST") is nicely compatible with Casper FFG in a way that most others are not and that it has a very important "stability" property: that the fork choice is a good prediction of the future fork choice. This seems obvious, but is very easy to accidentally make fork choice rules that do not have this property.
The most recent development of all is a result that latest message driven GHOST may, due to a technicality, only give 25% fault tolerance within two rounds, but immediate driven message GHOST (with FFG or CBC) still gives the full 33% (no writeup yet). The main tradeoff between FFG and CBC is that CBC seems to have nicer theoretical properties, but FFG seems to be easier to implement. In the meantime, a lot of progress on verifiable delay functions has been made
Also, I recently decided to look into Leslie Lamport's old 1982 paper, where he had a consensus algorithm that has 99% fault tolerance if you add the assumption that all nodes, including observers, are online with low network latency The network latency assumptions arguably make this unsuitable as a primary consensus algorithm. However, there is one use case where it works really well: as a substitute for suspicion scores for 51% censorship detection.
Basically, if a 51% coalition starts censoring blocks, other validators and clients can detect that this is happening and use the 99% fault tolerant consensus to agree that this is happening and coordinate a minority fork. The long-run goal of this research is to reduce reliance on the social layer as much as possible, and maximizing the cost of destabilizing the chain enough so that reverting to the social layer is necessary.
What's left now? On the FFG side, formal proofs, refinements to the specification, and ongoing progress on implementation (already started by >=3 teams!), with an eye to safe and speedy deployment. On the CBC side, much of the same. Onward and upward!
submitted by OneSmallStepForLambo to ethtrader [link] [comments]

Komodo Scalability Story - this is how I like to explain how we are creating a scalable and interoperable ecosystem.

Scaling Without Compromises

About Komodo

Scalability is an important

Usually something is sacrificed

It is a challenge to keep all of these three components in balance. Usually, one of them is partly sacrificed to get the other two.
Scalability is required for the technology to gain broad adoption. Decentralization is necessary to cut costs (middlemen) and to build trust. Security is the most crucial concept, and without it, the technology would be unusable.
For example, a traditional bank has sacrificed all decentralization - but still keeps its client's funds relatively safe.
The vanilla blockchain tech achieved decentralization and security but suffers from the lack of scalability.
Security is the most important of them all, as no one would use banks or Bitcoin without it. For example, we could say the lack of security in sidechains has stopped us in adopting that scalability solution.
Security must be solved first. Komodo's security solution is called 'delayed Proof of Work' and was developed in late 2016.

Platform vs Komodo's vision in 2016

Initially, our project was building on top of a traditional third-party platform in 2014 and 2015. However, we saw it had few limiting factors that caused us to announce Komodo and start building technology solutions to achieve our vision of an ecosystem. One of these solutions was the 'delayed Proof of Work' security service.
On the currently dominant blockchain platforms, both the infrastructure and the security are shared among the projects that are using the platform.
Sharing security is beneficial as all projects chip into public security service that keeps them all safe. It is like they would build big walls around their gated community. However, in the long term, they will face scalability issues, and the technical problem turns into a political one.
When a project shares infrastructure with the other projects it is not able to make all the decisions it otherwise would if it had full control. Self-hosting the infrastructure is a much better option for the project as it stays in complete control. However, then the security is segregated, and even an individual miner could attack small chains.
With the Komodo's dPoW security each project can have a native blockchain (self-host infrastructure). As a result, the whole ecosystem scales as there is no limitation on how many projects can enter. There is no scalability problem from the ecosystem standpoint.

Two types of scalability

On scalability conversation, we should separate two types of scalability.
  1. Ecosystem Scalability
  2. Blockchain Scalability
If all projects on an ecosystem are using a shared infrastructure, then that infrastructure becomes a cap on how large the entire ecosystem can grow. In other words, ecosystem scalability equals blockchain (platform) scalability.
On Komodo, these two things are kept separate. We solved ecosystem scalability problem back in 2016, that was more about the underlying architectural choices. This year (2018) we are solving blockchain scalability side as well.

Assetchain Scalability

On Komodo, each project gets an 'assetchain', which means a native blockchain they can freely operate and build upon. It is their infrastructure.
Each assetchain can be scaled on-demand into an Assetchain Cluster. Those chains are linked together through 'multi-chain syncing'.
The key to the Assetchain scaling is blockchain interoperability. While the project has full interoperability within its cluster, it also maintains full interoperability with other Assetchains and Assetchain Clusters.

Back to basics: Merkle Tree

To understand Komodo's scalability we have first to understand what a Merkle tree is.
With Merkle tree, all transaction hashes can be combined layer by layer, until only one is left. That is called 'Merkle Root'. The Merkle root is included in block headers and allows us to validate that a particular transaction was involved in a block.
That is how Electrum wallets work on Bitcoin. All the Electrum wallet downloads are those block headers that contain the Merkle Root of each block.

Merkle Root of Merkle Roots

We can take the concept a step further and fingerprint multiple Merkle Roots together so that we get a Merkle Root of Merkle Roots (MoM).
All the 'MoM's across multiple blockchains are sent to KMD blockchain. Then on Komodo the data if fingerprinted once more (to the third level). We will get 'MoMoM', that we can then send back to the chains.
The process could be summed up and simplified into three steps.
  1. Fingerprint 'MoM' data
  2. Sync to KMD (from all chains)
  3. Fingerprint 'MoMoM' data
  4. Sync from KMD (to all chains)
As a result, we get full blockchain interoperability on the entire Komodo ecosystem.

Current Scaling Achievements

Our latest stress test had 1024 chains, and we achieved 20k transactions per second (TPS).
On Komodo, we can include multiple payments on a single transaction, so thus we can also say we made over 800k payments per second.
As far as we know this is currently the world record on blockchain scaling.

Road to One Million TPS

We are in talks with Amazon Web Services (AWS). Our team is getting ready for another stress test, and we are looking to get help and resources from AWS.
Once everything is in place, we will have live testing and presentation.

Conclusions

Komodo architecture allows any project to launch their Assetchain, that can then be scaled up to an Assetchain Cluster on-demand.
Each project can build their platform on top of the infrastructure they host. The user-facing service (dApp) would then be made on top of their platform.
There is no limitation on how bit the Komodo ecosystem could grow.
We also believe there is no limitation on how much TPS throughput each Assetchain Cluster could produce. If more is required, then the project can add more servers.
All in all Komodo blockchain scales linearly and different projects stay independent.
P.S. you can download the presentation slides from Komodo forum: https://forum.komodoplatform.com/t/komodo-scaling-presentation/110
submitted by AudoKowitz to komodoplatform [link] [comments]

Beginners guide to Syscoin (SYS) and why you should be investing in this cryptocurrency in 2018

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!
Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.
With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today.

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.
Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.
Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.
The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.
The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.
What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.

Team Page: https://syscoin.org/team/

Blockchain Foundry Products

https://www.blockchainfoundry.co/products

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017.

Key Blockmarket Features

• Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC
• Bitcoin and Zcash as payment options
• Arbitrated Escrow
• Encrypted Messaging
• KYC/AML Compliance
• Images
• Unlimited Inventory Items

Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.

Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.

Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.

Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. Audit Results: [https://medium.com/@BlockchainFoundry/blockmarket-security-audit-results-and-next-steps-f69f94f149bf]

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in February 2018.

Key Syscoin Developments

Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized

Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turing complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.

Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.

Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. https://twitter.com/realSidhuJag/status/948588279540035584

Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.

Why Invest in Syscoin?

https://medium.com/@StevenVoros88/the-most-undervalued-project-in-the-crypto-world-not-for-long-96814ac66b08 https://medium.com/@danieljasonwestby/syscoin-the-hidden-gem-of-2018-96f973b81b9 https://twitter.com/Asbsvc/status/939959284246380545 https://twitter.com/CryptoBulld0g/status/935915911776784384 https://medium.com/@BlockchainFoundry/syscoin-to-disrupt-ebay-and-real-estate-industries-96aa55ef709a https://medium.com/@thecryptojournal.com/top-crypto-investment-for-2017-b99656491c6f https://www.youtube.com/watch?v=VNDprLJhGys

Merchants

https://medium.com/@BlockchainFoundry/merchant-pilot-program-update-7479fe451639

Partnerships

(Microsoft Azure)[https://azure.microsoft.com/en-us/blog/syscoin-joins-azure/]

Decentralized Identity Foundation

https://medium.com/@BlockchainFoundry/consensus-decentralized-identity-foundation-blockmarket-beta-3-beyond-6f830419ea55

White Paper

http://syscoin.org/whitepaper.pdf
Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments

Roadmap

http://syscoin.org/images/roadmap_2018__1024.png

Blockchain Application Development Architecture

https://cdn-images-1.medium.com/max/1200/1*bUO6_nRI7q805edG59e0DQ.png

Feature List 2017 & 2018

https://pbs.twimg.com/media/DUJwbI_X4AI3QL_.jpg

Where to Buy

• Bittrex • Poloniex • Upbit • Tux Exchange • Livecoin • Yobit • AEX • Bittylicious • Changelly • Flyp.me

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/
• QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6
• Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)
• HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin
Disclaimer This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by one22manytimes to CryptoCurrency [link] [comments]

Decred Journal – September 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link).

Development

Final version 1.3.0 of the core software was released bringing all the enhancements reported last month to the rest of the community. The groundwork for SPV (simplified payment verification) is complete, another reduction of fees is being deployed, and performance stepped up once again with a 50% reduction in startup time, 20% increased sync speed and more than 3x faster peer delivery of block headers (a key update for SPV). Decrediton's integrations of SPV and Politeia are open for testing by experienced users. Read the full release notes and get the downloads on GitHub. As always, don't forget to verify signatures.
dcrd: completed several steps towards multipeer downloads, improved introduction to the software in the main README, continued porting cleanups and refactoring from upstream btcd.
Currently in review are initial release of smart fee estimator and a change to UTXO set semantics. The latter is a large and important change that provides simpler handling, and resolves various issues with the previous approach. A lot of testing and careful review is needed so help is welcome.
Educational series for new Decred developers by @matheusd added two episodes: 02 Simnet Setup shows how to automate simnet management with tmux and 03 Miner Reward Invalidation explains block validity rules.
Finally, a pull request template with a list of checks was added to help guide the contributors to dcrd.
dcrwallet: bugfixes and RPC improvements to support desktop and mobile wallets.
Developers are welcome to comment on this idea to derive stakepool keys from the HD wallet seed. This would eliminate the need to backup and restore redeem scripts, thus greatly improving wallet UX. (missed in July issue)
Decrediton: bugfixes, refactoring to make the sync process more robust, new loading animations, design polishing.
Politeia: multiple improvements to the CLI client (security conscious users with more funds at risk might prefer CLI) and security hardening. A feature to deprecate or timeout proposals was identified as necessary for initial release and the work started. A privacy enhancement to not leak metadata of ticket holders was merged.
Android: update from @collins: "Second test release for dcrandroid is out. Major bugs have been fixed since last test. Latest code from SPV sync has been integrated. Once again, bug reports are welcome and issues can be opened on GitHub". Ask in #dev room for the APK to join testing.
A new security page was added that allows one to validate addresses and to sign/verify messages, similar to Decrediton's Security Center. Work on translations is beginning.
Overall the app is quite stable and accepting more testers. Next milestone is getting the test app on the app store.
iOS: the app started accepting testers last week. @macsleven: "the test version of Decred Wallet for iOS is available, we have a link for installing the app but the builds currently require your UDID. Contact either @macsleven or @raedah with your UDID if you would like to help test.".
Nearest goal is to make the app crash free.
Both mobile apps received new design themes.
dcrdata: v3.0 was released for mainnet! Highlights: charts, "merged debits" view, agendas page, Insight API support, side chain tracking, Go 1.11 support with module builds, numerous backend improvements. Full release notes here. This release featured 9 contributors and development lead @chappjc noted: "This collaboration with @raedahgroup on our own block explorer and web API for @decredproject has been super productive.".
Up next is supporting dynamic page widths site wide and deploying new visual blocks home page.
Trezor: proof of concept implementation for Trezor Model T firmware is in the works (previous work was for Model One).
Ticket splitting: updated to use Go modules and added simnet support, several fixes.
docs: beginner's guide overhaul, multiple fixes and cleanups.
decred.org: added 3rd party wallets, removed inactive PoW pools and removed web wallet.
@Richard-Red is building a curated list of Decred-related GitHub repositories.
Welcome to new people contributing for the first time: @klebe, @s_ben, @victorguedes, and PrimeDominus!
Dev activity stats for September: 219 active PRs, 197 commits, 28.7k added and 18.8k deleted lines spread across 6 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: started and ended the month around 75 PH/s, hitting a low of 60.5 and a new high of 110 PH/s. BeePool is again the leader with their share varying between 23-54%, followed by F2Pool 13-30%, Coinmine 4-6% and Luxor 3-5%. As in previous months, there were multiple spikes of unidentified hashrate.
Staking: 30-day average ticket price is 98 DCR (+2.4). The price varied between 95.7 and 101.9 DCR. Locked DCR amount was 3.86-3.96 million DCR, or 45.7-46.5% of the supply.
Nodes: there are 201 public listening nodes and 325 normal nodes per dcred.eu. Version distribution: 5% are v1.4.0(pre) dev builds (+3%), 30% on v1.3.0 (+25%), 42% on v1.2.0 (-20%), 15% on v1.1.2 (-7%), 6% on v1.1.0. More than 76% of nodes run v1.2.0 and higher and therefore support client filters. Data as of Oct 1.

ASICs

Obelisk posted two updates on their mailing list. 70% of Batch 1 units are shipped, an extensive user guide is available, Obelisk Scanner application was released that allows one to automatically update firmware. First firmware update was released and bumped SC1 hashrate by 10-20%, added new pools and fixed multiple bugs. Next update will focus on DCR1. It is worth a special mention that the firmware source code is now open! Let us hope more manufacturers will follow this example.
A few details about Whatsminer surfaced this month. The manufacturer is MicroBT, also known as Bitwei and commonly misspelled as Bitewei. Pangolinminer is a reseller, and the model name is Whatsminer D1.
Bitmain has finally entered Decred ASIC space with their Antminer DR3. Hash rate is 7.8 TH/s while pulling 1410 W, at the price of $673. These specs mean it has the best GH/W and GH/USD of currently sold miners until the Whatsminer or others come out, although its GH/USD of 11.6 already competes with Whatsminer's 10.5. Discussed on Reddit and bitcointalk, unboxing video here.

Integrations

Meet our 17th voting service provider: decredvoting.com. It is operated by @david, has 2% fee and supports ticket splitting. Reddit thread is here.
For a historical note, the first VSP to support ticket splitting was decredbrasil.com:
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)
KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks.
Three more wallets integrated Decred in September:
ChangeNow announced Decred addition to their Android app that allows accountless swaps between 150+ assets.
Coinbase launched informational asset pages for top 50 coins by market cap, including Decred. First the pages started showing in the Coinbase app for a small group of testers, and later the web price dashboard went live.

Adoption

The birth of a Brazilian girl was registered on the Decred blockchain using OriginalMy, a blockchain proof of authenticity services provider. Read the full story in Portuguese and in English.

Marketing

Advertising report for September is ready. Next month the graphics for all the ads will be changing.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed.
Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)

Events

Attended:
Upcoming:
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)

Media

August issue of Decred Journal was translated to Russian. Many thanks to @DZ!
Rency cryptocurrency ratings published a report on Decred and incorporated a lot of feedback from the community on Reddit.
September issue of Chinese CCID ratings was published (snapshot), Decred is still at the bottom.
Videos:
Featured articles:
Articles:

Community Discussions

Community stats:
Comm systems news: Several work channels were migrated to Matrix, #writers_room is finally bridged.
Highlights:
Twitter: why decentralized governance and funding are necessary for network survival and the power of controlling the narrative; learning about governance more broadly by watching its evolution in cryptocurrency space, importance of community consensus and communications infrastructure.
Reddit: yet another strong pitch by @solar; question about buyer protections; dcrtime internals; a proposal to sponsor hoodies in the University of Cape Town; Lightning Network support for altcoins.
Chats: skills to operate a stakepool; voting details: 2 of 3 votes can approve a block, what votes really approve are regular tx, etc; scriptless script atomic swaps using Schnorr adaptor signatures; dev dashboard, choosing work, people do best when working on what interests them most; opportunities for governments and enterprise for anchoring legal data to blockchain; terminology: DAO vs DAE; human-friendly payments, sharing xpub vs payment protocols; funding btcsuite development; Politeia vote types: approval vote, sentiment vote and a defund vote, also linking proposals and financial statements; algo trading and programming languages (yes, on #trading!); alternative implementation, C/C++/Go/Rust; HFTs, algo trading, fake volume and slippage; offline wallets, usb/write-only media/optical scanners vs auditing traffic between dcrd and dcrwallet; Proof of Activity did not inspire Decred but spurred Decred to get moving, Wikipedia page hurdles; how stakeholders could veto blocks; how many votes are needed to approve a proposal; why Decrediton uses Electron; CVE-2018-17144 and over-dependence on single Bitcoin implementation, btcsuite, fuzz testing; tracking proposal progress after voting and funding; why the wallet does not store the seed at all; power connectors, electricity, wiring and fire safety; reasonable spendings from project fund; ways to measure sync progress better than block height; using Politeia without email address; concurrency in Go, locks vs channels.
#support is not often mentioned, but it must be noted that every day on this channel people get high quality support. (@bee: To my surprise, even those poor souls running Windows 10. My greatest respect to the support team!)

Markets

In September DCR was trading in the range of USD 34-45 / BTC 0.0054-0.0063. On Sep 6, DCR revisited the bottom of USD 34 / BTC 0.0054 when BTC quickly dropped from USD 7,300 to 6,400. On Sep 14, a small price rise coincided with both the start of KuCoin trading and hashrate spike to 104 PH/s. Looking at coinmarketcap charts, the trading volume is a bit lower than in July and August.
As of Oct 4, Decred is #18 by the number of daily transactions with 3,200 tx, and #9 by the USD value of daily issuance with $230k. (source: onchainfx)
Interesting observation by @ImacallyouJawdy: while we sit at 2018 price lows the amount locked in tickets is testing 2018 high.

Relevant External

ASIC for Lyra2REv2 was spotted on the web. Vertcoin team is preparing a new PoW algorithm. This would be the 3rd fork after two previous forks to change the algorithm in 2014 and 2015.
A report titled The Positive Externalities of Bitcoin Mining discusses the benefits of PoW mining that are often overlooked by the critics of its energy use.
A Brief Study of Cryptonetwork Forks by Alex Evans of Placeholder studies the behavior of users, developers and miners after the fork, and makes the cases that it is hard for child chains to attract users and developers from their parent chains.
New research on private atomic swaps: the paper "Anonymous Atomic Swaps Using Homomorphic Hashing" attempts to break the public link between two transactions. (bitcointalk, decred)
On Sep 18 Poloniex announced delisting of 8 more assets. That day they took a 12-80% dive showing their dependence on this one exchange.
Circle introduced USDC markets on Poloniex: "USDC is a fully collateralized US dollar stablecoin using the ERC-20 standard that provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors.".
Coinbase announced new asset listing process and is accepting submissions on their listing portal. (decred)
The New York State Office of the Attorney General posted a study of 13 exchanges that contains many insights.
A critical vulnerability was discovered and fixed in Bitcoin Core. Few days later a full disclosure was posted revealing the severity of the bug. In a bitcointalk thread btcd was called 'amateur' despite not being vulnerable, and some Core developers voiced their concerns about multiple implementations. The Bitcoin Unlimited developer who found the bug shared his perspective in a blog post. Decred's vision so far is that more full node implementations is a strength, just like for any Internet protocol.

About This Issue

This is the 6th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are also welcome: some areas are adding content, pre-release review or translations to other languages.
Credits (Slack names, alphabetical order): bee, Dustorf, jz, Haon, oregonisaac, raedah and Richard-Red.
submitted by jet_user to decred [link] [comments]

Useful Beginner's Guide to Syscoin

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!   Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.   With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!    

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.   Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.   Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.   The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.   The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.    

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.   What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.
View Team Page.    

Blockchain Foundry Products

BF Products    

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2    

Key Blockmarket Features

- Decentralized Marketplace

The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items  

- Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.  

- Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.  

- Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.  

- Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.    

Blockmarket Desktop – Quickstart Tutorials (16 short vids)

BM Desktop – Quickstart Tutorials    

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018.   This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency    

Primary Target Market + Value Potential

The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector.   To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.    

Key Syscoin Developments

- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST)

View Developer’s Twitter post View Syscoin’s Twitter post  

- Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.  

- Masternode Rewards + Min. Hardware Specs

Masternode Rewards + Min. Hardware Specs Masternode ROI Calculator  

- Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.  

- Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.  

- Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.  

- Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.    

Why Invest in Syscoin?

 

Merchants

Merchant Pilot Program    

Partnerships

Development Updates

White Paper

White Paper.pdf Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments    

Roadmap

Roadmap 2017-2018.png    

Blockchain Application Development Architecture

Blockchain Application Development Architecture.png    

Feature List 2017 & 2018

Feature List 2017 & 2018.jpg    

Where to Buy

BittrexPoloniexUpbitTux ExchangeLivecoinYobitAEXBittyliciousChangellyFlyp.me    

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/ • QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)    

Need Help or Want to Contribute?

If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel where the SYS team and community members are active, helpful and responsive.    

Credit To

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin    

Last Updated

This post was last updated on Feb 10 2018.    

Disclaimer

This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by idbrews to SysCoin [link] [comments]

Tron v10.0.0 (2017-02-09) // Add WSUS Offline support; Add substage standalone execution support; Other major breaking changes - read notes

Background

Tron is a script that "fights for the User." Think of it as a "tech-on-a-thumb-drive" that automates most of tedious work in cleaning a Windows system.
The goal is ~85% automation, with the understanding that some things are always better left to the discretion of the tech. It is built with heavy reliance on community input and updated regularly.
Bug reports, critiques and suggestions are welcome (see how NOT to report bugs). If you have issues with this release, post a top-level comment and myself or one of the mods will answer, typically in <24 hours.

Sequence of operation

Prep > Tempclean > De-bloat > Disinfect > Repair > Patch > Optimize > Wrap-up | (Manual tools)
Saves a log to C:\Logs\tron\tron.log (configurable).
screenshots of Tron in action

Changelog

(significant changes in bold; full changelog on Github)
v10.0.0 (2017-02-09)
Significant changes:
  • Tron now supports using bundled WSUS Offline update packages. Read the instructions file or Github readme for information on how to use WSUS Offline with Tron
  • All Tron config options moved from tron.bat to: \tron\resources\functions\tron_settings.bat. Use this to change defaults (or just drop your own custom settings file over top of the default one)
  • Tron project version moved from tron.bat to: \tron\resources\functions\initialize_environment.bat
  • Most prep and checks moved from tron.bat to: \tron\resources\functions\prerun_prep_and_checks.bat
  • All sub-stage scripts, as well as the Adobe Flash installation script, support standalone execution (Tron directory structure and supporting files must still be intact). Use at your own risk
  • New -scs switch and associated SKIP_CUSTOM_SCRIPTS variable. Use this to force Tron to always skip Stage 8 even if custom scripts are present
  • New -swo switch and associated SKIP_WSUS_OFFLINE variable. Use this to force Tron to ignore WSUS Offline update files if they're present
  • Rename -sp switch to -sap
  • Rename -sw switch to -swu
tron.bat
  • * Major breaking changes; VERSION in this script now just refers to tron.bat and NOT the overall Tron project version. Tron overall project version now resides in \resources\functions\initialize_environment.bat. See that file for more details
  • + Add REPO_TRON_VERSION and REPO_TRON_DATE to config dump (-c) output
  • + Add switch -scs and associated SKIP_CUSTOM_SCRIPTS variable to allow forcibly skipping Stage 8 (custom scripts). This only has effect if .bat files exist in the \stage_8_custom_scripts directory. If nothing is there then this option has no effect
  • + Add switch -swo and associated SKIP_WSUS_OFFLINE variable to allow forcibly skipping bundled WSUS Offline updates even if they're present in stage_5_patch\wsus_offline\client\Update.cmd. Online Windows Updates will still be attempted
  • / Change -sp switch and associated SKIP_PATCHES variable to -sap and SKIP_APP_PATCHES to be consistent with other skip switches
  • / Change -sw switch (SKIP_WINDOWS_UPDATE) to -swu to be consistent with other skip switches
  • - Move task "Enable F8 Key on Bootup" from tron.bat to prerun_checks_and_tasks.bat
  • * Update welcome screen with note about Stage 8: Custom scripts
functions
  • + initialize_environment.bat: Initializes Tron's runtime environment. It also contains and determines the overall project version and date. NOTE: Sub-stage scripts rely on this script to function if executed outside of a Tron run (e.g. when run standalone)
  • + prerun_checks_and_tasks.bat: Performs many of Tron's prerun checks and tasks (admin rights check, network connection check, etc)
  • + tron_settings.bat: Contains Tron's default settings. Edit this file to change the defaults. NOTE: Sub-stage scripts rely on this script to function if executed outside of a Tron run (e.g. when run standalone)
Stage 0: Prep
  • * Update script to support standalone execution
  • ! erunt: Don't wait for ERUNT to finish; launch it, wait 15 seconds, then continue. This is to prevent getting stalled on a rare error which causes a popup msg on Win10
Stage 1: Tempclean
  • * Update script to support standalone execution
Stage 2: De-bloat
  • * Update script to support standalone execution
  • ! Fix for previous fix (shakes head at self), was accidentally disabling OneDrive sync instead of ENABLING. Thanks to Gyllius
  • - Remove Calendar and Mail app from active Metro target list. Thanks to Reynbou
Stage 3: Disinfect
  • * Update script to support standalone execution
Stage 4: Repair
  • * Update script to support standalone execution
Stage 5: Patch
  • * Update script to support standalone execution
  • + Add support for bundled WSUS Offline updates. Thanks to TootZoot for initial template code
  • / change :skip_updates and associated GOTO statements to :skip_application_updates
  • / change various text and strings referring to SKIP_UPDATES to SKIP_APP_UPDATES
  • * Flash installation script now supports standalone execution (for example if you just want to update all versions of Flash on the machine)
  • * Improve existing Flash installation detection; add granular tests per version. Thanks to nubduck
  • * Catch additional Flash Updater scheduled task that gets installed
  • * Update Acrobat Reader DC installation script to block the stupid plugin Adobe loads into Chrome without permission
Stage 6: Optimize
  • * Update script to support standalone execution

Download

  1. Primary method: Download a self-extracting .exe pack from one of the mirrors:
    Mirror HTTPS HTTP Location Host
    Official link link US-TX SGC-Hosting
    #1 link link US-NY danodemano
    #2 link link US-GA TheCronus89
    #3 link link DE bodkov
    #4 link link NZ iDanoo
    #5 link link FR mxmod
    #6 --- link US-TX RB14060 (XygenHosting)
    #7 link link Cloudflare TheSqrtMinus1
    #8 --- link FR Falkerz
    #9 link --- US-MI ajcutshall
    #10 --- link UK nickuk (ClanPlanet)
    #11 link --- AU agent-squirrel
    #12 link --- Amazon CDN helpdesktv
    #13 link --- DE 0x22.se
  2. Secondary: Download the .torrent file.
  3. Tertiary: Use Resilio Sync (formerly "BT Sync") to sync to the repo. You'll receive updates and patches immediately as I push them. After installing, use this read-only key to connect to the repo:
    BYQYYECDOJPXYA2ZNUDWDN34O2GJHBM47 
  4. Quaternary: Connect to the SyncThing repo (instructions) to get fixes/updates immediately. This method has some risks and you should only use it if you understand them.
  5. Quinary: Source code
    All the code for Tron is available on Github (Note: this doesn't include many of the utilities Tron relies on to function). If you want to view the code without downloading a ~500MB package, Github is a good place to do it.

Command-Line Support

Tron has full command-line support. All flags are optional, can be used simultaneously, and override their respective script default when used.
Usage: tron.bat [-a -c -d -dev -e -er -m -np -o -p -r -sa -scs -sd -sdb -sdc -sdu -se -sk -sm -sap -spr -ss -str -swu -swo -udl -v -x] | [-h] Optional flags (can be combined): -a Automatic mode (no welcome screen or prompts; implies -e) -c Config dump (display current config. Can be used with other flags to see what WOULD happen, but script will never execute if this flag is used) -d Dry run (run through script without executing any jobs) -dev Override OS detection (allow running on unsupported Windows versions) -e Accept EULA (suppress display of disclaimer warning screen) -er Email a report when finished. Requires you to configure SwithMailSettings.xml -m Preserve OEM Metro apps (don't remove them) -np Skip the pause at the end of the script -o Power off after running (overrides -r) -p Preserve power settings (don't reset power settings to default) -r Reboot automatically (auto-reboot 30 seconds after completion) -sa Skip anti-virus scans (MBAM, KVRT, Sophos) -sap Skip application patches (don't patch 7-Zip, Java Runtime, Adobe Flash or Reader) -scs Skip custom scripts (has no effect if you haven't supplied custom scripts) -sdb Skip de-bloat (OEM bloatware removal; implies -m) -sd Skip defrag (force Tron to ALWAYS skip Stage 5 defrag) -sdc Skip DISM component (SxS store) cleanup -sdu Skip debloat update. Prevent Tron from auto-updating the S2 debloat lists -se Skip Event Log clearing -sk Skip Kaspersky Virus Rescue Tool (KVRT) scan -sm Skip Malwarebytes Anti-Malware (MBAM) installation -spr Skip page file settings reset (don't set to "Let Windows manage the page file") -ss Skip Sophos Anti-Virus (SAV) scan -str Skip Telemetry Removal (don't remove Windows user tracking, Win7 and up only) -swu Skip Windows Updates entirely (ignore both WSUS Offline and online methods) -swo Skip only bundled WSUS Offline updates (online updates still attempted) -udl Upload debug logs. Send tron.log and the system GUID dump to the Tron developer -v Verbose. Show as much output as possible. NOTE: Significantly slower! -x Self-destruct. Tron deletes itself after running and leaves logs intact Misc flags (must be used alone): -h Display this help text 

Integrity

\tron\integrity_verification\checksums.txt contains SHA-256 checksums for every file and is signed with my PGP key (0x07d1490f82a211a2; included). You can use this to verify package integrity.
Donations (bitcoin): 1FeJmtRUEqkC2Uh8q84Ycb4tramEyg5Hb3
"Do not withhold good from those to whom it is due, when it is in your power to act." -p3:27
submitted by vocatus to TronScript [link] [comments]

[ELI5] Extracting Privkeys from QT/Core

We have a constant stream of people coming back after abandoning Dogecoin and the sub in 2014 when the price fell. These people all have old versions of QT and are now basically trying to recover their coins, presumably to cash out and abandon us again. This is causing strain for the network, as far more people are trying to leech blocks than seed them.
The thing is, none of this is necessary. Especially if you're just going to dump coins. With resources such as https://coinb.in/#settings all you need are your private keys, and you can create, sign and broadcast transactions yourself. No client required, let alone one as resource-hungry as QT.

"So, how do I get my keys?"

First of all, lets talk about data management. The overwhelming majority of coins are not lost through theft, especially direct theft of wallets (as distinct from wholesale thefts/scams/implosions like Moolah, GAW, MtGox, Cryptsy, and even our own beloved Dogetipbot). Most coins are lost because people forget about their wallets and do silly things like reformat hard drives, lose passwords and so on.
So, everyone should have a wallet list. Here is a sample bit of HTML that gives you a page with two columns of wallets, one for local wallets you would withdraw coins to, the other the third-party wallets you would deposit coins to third parties through (do note that many services use temporary addresses generated for deposits which expire after 24h or so). A page like this is how I manage my 100+ wallets, and I have copies on my network and hidden online. Such a page makes it easy to at least keep track of all your wallets, for a trivial amount of work to set up.
 
 Sample - Twitter Fr DFXXz9gq3WkgJaHn9tXRChMhFQcwm4Y251 To DByYgzd4ec5Ku9vPag8XqoBfyRpsoj8Xs3 @TipDoge Sample - Backslash Fr DSDyv83VC1QtEnmJ4ATKFn5Sw3iC12VLmX To D9MsxSyJe5Mq7fWFRpC7zQQt1gexHccN4w Backslash To DJ3GL68kw8vh99RvxnEmQKE8A3cWRoEEqo Backslash Faucet Sample - Block.io To DE5QamzWVnxK2HmCS61cUsrn9iwgTArunU Block.io 

"OK, great, so now I have a list of my wallets. Now what?"

Now you're going to need the private keys for each of those wallets. Obviously you're not going to store these in a public place though. So you will need a separate file, which can just be plain text. Copy each of those addresses into it.
Now go ahead and fire up QT. If you haven't synced it in 3 years, its going to take forever, but that doesn't matter. You don't actually need the blockchain for this, so you don't have to wait for it to catch up.
Open up the console which is in the Help menu. Then give the command dumpprivkey with the wallet address you want the key to. Then use the up-arrow key to bring that command back, replace the address with the next one, and keep going until you have them all.
It will look something like this:
 13:05:18 Welcome to the Dogecoin RPC console. Use up and down arrows to navigate history, and Ctrl-L to clear screen. Type help for an overview of available commands. 13:11:06 dumpprivkey D9xDcRthB6XP4vRGqiyKdDfVJ7CWhYuBBi 13:11:06 6KEcssuq1wWUrFVmMF8yDxHuAdQMiRezz53zDxADLmyoXnix7iM 13:12:00 dumpprivkey DUDARNrGHVTFcCgriwRWgDQJPKDuDQr9jg 13:12:00 6JNk6NNFZcr49fbsD2jcTfTxFLjJKq9DHQ5JU8CYeZ2Cz6JdKMY 13:12:25 dumpprivkey DG6xnwCT6BXePaySqU85XocobZmhbJczQH 13:12:25 6JNXFv95Mp9SzehHw9jojjdxHRNPeh77qCsRbaNwJZMp9MKCAu3 
Yes, those are real wallets. But don't bother trying to steal my coins, I just generated them on https://walletgenerator.net/ and they're empty.
That's basically it. All you need to do is add some descriptions of what the wallets are, pretty up the format to your liking, and save copies in multiple, secure places, including printed out.

Remember, if you lose your keys, OR someone else sees them, you lose your coins!

If those were my real wallets above, you could use the keys and spend my coins. So obviously, don't let anyone else, especially annoying little brothers, get their grubby hands on them. But also make sure they can be discovered if anything happens to you. That's why the printed copies... nobody is going to go trolling through your porn or warez collection on the offchance there's something valuable in there. But they will look in your safe or wherever you store other important documents. Just be sure to leave a note as to what they are and how to use them. Remember the woman who came here a couple years ago who had found a USB stick with 110 BTC in a locked wallet.dat on it from her dead husband? I sometimes wonder if she ever got the money. Don't be her. Or him.

"OK, great. Now I have my keys. What now?"

Well, you can spend coins using https://coinb.in/#settings from any wallet you have the keys to. First step is to choose the network. Dogecoin (mainnet) obviously. Then go to Transaction in the +New menu. Enter your address and hit the Load button. It will pull in the first 100 transactions. Now enter the address to pay, and the amount.
Note the Transaction Fee box!
You want this amount to be zero. Depending on whether you're moving coins to another of your wallets to consolidate them (a very good idea.. go read the UTXO ELI5, which you will find a couple pages into https://www.reddit.com/dogecoin/comments/4yts6h/start_here_for_much_wallet_wow/ - Yes, I'm going to make you work for it, cos there's tons of useful stuff there you need to know), or paying someone else, you may want to select which inputs to use.
Once you're happy with the transaction, go ahead and submit it. You will now get a block of text, which is the raw, unsigned transaction. Copy this. Go to the Sign tab. Paste it. Add your private key and Submit to sign it.
After a little bit, you will get a signed transaction. Copy it. Go to the Broadcast tab, paste it and hit Submit.
That's it. It should go into the next block in a minute or two. Yes, even without paying a mining fee. Our network is so lightly loaded that there are no contention issues like the Bitcoin people have to put up with.

"That's it? So why do I need QT?"

You don't. The process above is all that's involved in spending coins. Everything else is window dressing. So there is no need to run QT, or any other client. Oh, and since you can download the site and run it locally (mostly offline), there is no security issue beyond the usual keyloggers/spyware that can compromise anything. And by knowing how to do this, you are much better protected from accidental loss than someone who blindly trusts black boxes they don't understand.
Oh, one final thing... if you really want to help the network by seeding rather than leeching, go ahead and run a full node. Instructions are in that link above. AND you may want to help seed the bootstrap file torrent from a couple of days ago. Just because YOU don't need it, doesn't mean others don't, right?
submitted by Fulvio55 to dogecoin [link] [comments]

Blockchain Wallets

Hello! My name is Inna Halahuz, I am a sales manager at Platinum, the largest listing service provider for the STO and ICO projects. We know all about the best and most useful STO and ICO marketing services.
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What a Blockchain Wallet is? What is its purpose?
Find the answer after reading this article.
Public/Private Key
The public key is the digital code you give to someone that wants to transfer ownership of a unit of cryptocurrency to you; and a private key is what you need to be able to unlock your own wallet to transfer a unit of a cryptocurrency to someone else. The encoding of information within a wallet is done by the private and public keys. That is the main component of the encryption that maintains the security of the wallet. Both keys function in simultaneous encryption systems called symmetric and asymmetric encryption. The former, alternatively known as private key encryption, makes use of the same key for encryption and decryption. The latter, asymmetric encryption, utilizes two keys, the public and private key, wherein a message-sender encrypts the message with the public key, and the recipient decodes it with their private key. The public key uses asymmetric algorithms that convert messages into an unreadable format. A person who possesses a public key can encrypt the message for a specific receiver.
Accessing wallets
Methods of wallet access vary depending on the type of wallet being used. Various types of currency wallets on an exchange will normally be accessed via the exchange’s entrance portal, normally involving a combination of a username/password and optionally, 2FA (Two factor authentication, which we explain in more detail later). Whereas hardware wallets need to be connected to an internet enabled device, and then have a pin code entered manually by the user in possession of the hardware wallet in order for access to be gained. Phone wallets are accessed through the device on which the wallet application has been downloaded. Ordinarily, a passcode and/or security pattern must be entered before entry is granted, in addition to 2FA for withdrawals.
Satoshi Nakamoto built the Satoshi client which evolved into Bitcoin in 2009. This software allowed users to create wallets and send money to other addresses. However, it proved to be a nightmarish user experience, with many transactions being sent to incorrect addresses and private keys being lost. The MtGox (Magic the Gathering Online exchange, named after the original intended use of the exchange) incident, which will be covered in greater detail later, serves as a reminder of the dangers present in the cryptosphere regarding security, and the need to constantly upgrade your defenses against all potential hacks. The resulting loss of 850k BTC is a still unresolved problem, weighing heavily on the victims and the markets at large. This caused a huge push for a constantly evolving and improving focus on security. Exchanges that developed later, and are thus considered more legitimate and secure, such as Gemini and Coinbase, put a much greater emphasis on vigilance as a direct result of the MtGox hacking incident. We also saw the evolution of wallet security into the physical realm with the creation of hardware wallets, most notable among them the Ledger and Trezor wallets.
Types of Wallets & Storage Methods
The simplest way to sift through the dozens of cryptocurrency storage methods available today, is to divide them up into digital and non-digital, software and hardware wallets. There are also less commonly used methods of storage of private keys, like paper wallets and brain wallets. We will examine them all at least briefly, because in the course of your interaction with cryptocurrencies and Blockchain technology, it is essential to master all the different types of hardware and software wallets. Another distinction must be made between hot wallets and cold wallets. A hot wallet is one that is connected to the internet, and a cold wallet is one that is not. Fun fact: The level below cold storage, deep cold storage has just recently been implemented by the Regal RA DMCC, a subsidiary of an internationally renowned gold trading company licensed in the Middle East. After having been granted a crypto trading license, Regal RA launched their “deep cold” storage solution for traders and investors, which offers the ability to store crypto assets in vaults deep below the Almas Tower in Dubai. This storage method is so secure that at no point is the vault connected to a network or the internet; meaning the owners of the assets can be sure that the private keys are known only to the rightful owners.
Lets take a quick look at specific features and functionality of varieties of crypto wallets. Software wallets: wallet applications installed on a laptop, desktop, phone or tablet. Web Wallets: A hot wallet by definition. Web Wallets are accessible through the web browser on your phone or computer. The most important feature to recognize about any kind of web wallet, is that the private keys are held and managed by a trusted third party. MyEtherWallet is the most commonly used non-exchange web wallet, but it can only be used to store Ethereum and ERC-20 tokens.
Though the avenue of access to MEW is through the web, it is not strictly speaking a web wallet, though this label will suffice for the time being. The MEW site gives you the ability to create a new wallet so you can store your ETH yourself. All the data is created and stored on your CPU rather than their servers. This makes MEW a hybrid kind of web wallet and desktop wallet. Exchange Wallets: A form of Web Wallet contained within an exchange. An exchange will hold a wallet for each individual variety of cryptocurrency you hold on that exchange. Desktop Wallets: A software program downloaded onto your computer or tablet hard drive that usually holds only one kind of cryptocurrency. The Nano Wallet (Formerly Raiwallet) and Neon wallet for storage of NEO and NEP-5 tokens are notable examples of desktop wallets Phone Wallets: These are apps downloaded onto a mobile phone that function in the same manner as a desktop wallet, but actually can hold many different kinds of cryptocurrency. The Eidoo Wallet for storing Ethereum and its associated tokens and Blockchain Wallet which currently is configured to hold BTC, ETH and Bitcoin Cash, are some of the most widely used examples.
Hardware wallets — LedgeTrezoAlternatives
Hardware wallets are basically physical pathways and keys to the unique location of your crypto assets on the Blockchain. These are thought to be more secure than any variety of web wallet because the private key is stored within your own hard wallet, an actual physical device. This forcibly removes the risk your online wallet, or your exchange counter party, might be hacked in the same manner as MtGox. In hardware wallet transactions, the wallet’s API creates the transaction when a user requests a payment. An API is a set of functions that facilitates the creation of applications that interact and access features or data of an operating system. The hardware then signs the transaction, and produces a public key, which is given to the network. This means the signing keys never leave the hardware wallet. The user must both enter a personal identification number and physically press buttons on the hardware wallet in order to gain access to their Blockchain wallet address through this method, and do the same to initiate transfers.
Paper Wallets
Possibly the safest form of cryptocurrency storage in terms of avoiding hacking, Paper Wallets are an offline form of crypto storage that is free to set up, and probably the most secure way for users, from beginners to experts, to hold on to their crypto assets. To say it simply, paper wallets are an offline cold storage method of storing cryptocurrency. This includes actually printing out your public and private keys on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the security or condition of a piece of hardware, nor do you have to worry about hackers on the net, or any other piece of malware. You just need to take care of one piece of paper!
Real World Historical Examples of Different Wallet Types
Web Wallet: Blockchain.info Brief mechanism & Security Blockchain.info is both a cryptocurrency wallet, supporting Bitcoin, Ethereum and Bitcoin cash, and also a block explorer service. The wallet service provided by blockchain.info has both a Web Wallet, and mobile phone application wallet, both of which involve signing up with an email address, and both have downloadable private keys. Two Factor Authentication is enabled for transfers from the web and mobile wallets, as well as email confirmation (as with most withdrawals from exchanges). Phone Wallet: Eidoo The Eidoo wallet is a multi-currency mobile phone app wallet for storage of Ethereum and ERC-20 tokens. The security level is the standard phone wallet level of email registration, confirmation, password login, and 2 factor authentication used in all transfers out. You may find small volumes of different varieties of cryptocurrencies randomly turning up in your Eidoo wallet address. Certain projects have deals with individual wallets to allow for “airdrops” to take place of a particular token into the wallet, without the consent of the wallet holder. There is no need to be alarmed, and the security of the wallet is not in any way compromised by these airdrops.
Neon Wallet
The NEON wallet sets the standard for web wallets in terms of security and user-friendly functionality. This wallet is only designed for storing NEO, Gas, and NEP-5 tokens (Ontology, Deep Brain Chain, RPX etc.). As with all single-currency wallets, be forewarned, if you send the wrong cryptocurrency type to a wallet for which it is not designed, you will probably lose your tokens or coins. MyEtherWallet My Ether Wallet, often referred to as MEW, is the most widely used and highly regarded wallet for Ethereum and its related ERC-20 tokens. You can access your MEW account with a hardware wallet, or a different program. Or you can also get access by typing or copying in your private key. However, you should understand this method is the least safe way possible,and therefore is the most likely to result in a hack. Hardware: TrezoLedger Brief History Mechanism and Security A hardware wallet is a physical key to your on-chain wallet location, with the private keys contained within a secure sector of the device. Your private key never leaves your hardware wallet. This is one of the safest possible methods of access to your crypto assets. Many people feel like the hardware wallet strikes the right balance between security, peace of mind, and convenience. Paper Wallet Paper wallets can be generated at various websites, such as https://bitcoinpaperwallet.com/ and https://walletgenerator.net/. They enable wallet holders to store their private keys totally offline, in as secure a manner as is possible.
Real World Example — Poor Practices
MtGox Hack history effects and security considerations MtGox was the largest cryptocurrency exchange in the world before it was hacked in 2014. They were handling over 70% of BTC transactions before they were forced to liquidate their business. The biggest theft of cryptocurrency in history began when the private keys for the hot wallets were stolen in 2011 from a wallet.dat file, possibly by hacking, possibly by a rogue employee. Over the course of the next 3 years the hot wallets were emptied of approximately 650000 BTC. The hacker only needed wallet.dat file to access and make transfers from the hot wallet, as wallet encryption was only in operation from the time of the Bitcoin 0.4.0 release on Sept 23rd 2011. Even as the wallets were being emptied, the employees at Mt Gox were apparently oblivious to what was taking place. It seems that Mt Gox workers were interpreting these withdrawals as large transfers being made to more secure wallets. The former CEO of the exchange, Mark Karpeles, is currently on trial for embezzlement and faces up to 5 years in prison if found guilty. The Mt Gox hack precipitated the acceleration of security improvements on other exchanges, for wallets, and the architecture of bitcoin itself. As a rule of thumb, no small-to-medium scale crypto holders should use exchange wallets as a long-term storage solution. Investors and experienced traders may do this to take advantage of market fluctuations, but exchange wallets are perhaps the most prone to hacking, and storing assets on exchanges for an extended time is one of the riskiest ways to hold your assets.
In a case strikingly similar to the MtGox of 2011–2014, the operators of the BitGrail exchange “discovered” that approximately 17 million XRB ($195 million worth in early 2018) were missing. The operators of the exchange were inexplicably still accepting deposits, long after they knew about the hack. Then they proceeded to block withdrawals from non-EU users. And then they even requested a hard fork of the code to restore the funds. This would have meant the entire XRB Blockchain would have had to accept all transactions from their first “invalid” transaction that were invalid, and rollback the ledger. The BitGrailexchange attempted to open operations in May 2018 but was immediately forced to close by order of the Italian courts. BitGrail did not institute mandatory KYC (Know your customer) procedures for their clients until after the theft had been reported, and allegedly months after the hack was visible. They also did not have 2 factor authentication mandatory for withdrawals. All big, and very costly mistakes.
Case Study: Good Practice Binance, the Attempted Hack
During the 2017 bull run, China-based exchange Binance quickly rose to the status of biggest altcoin exchange in the world, boasting daily volumes that surged to over $4 billion per day in late December. Unfortunately, this success attracted the attention of some crafty hackers. These hackers purchased domain names that were confusingly similar to “binance.com”. And then they created sufficiently convincing replica websites so they could phish traders for their login information. After obtaining this vital info, the scammers created API keys to place large buy orders for VIAcoin, an obscure, low volume digital currency. Those large buy orders spiked VIA’s price. Within minutes they traded the artificially high-priced VIA for BTC. Then they immediately made withdrawal requests from the hacked BTC wallets to wallets outside of the exchange. Almost a perfect fait accompli! But, Binance’s “automating risk management system” kicked in, as it should, and all withdrawals were temporarily suspended, resulting in a foiled hacking attempt.
Software Wallets Web/Desktop/Phone/Exchange Advantages and Limitations
As we said before, it is inadvisable to store crypto assets in exchange wallets, and, to a lesser extent, Web Wallets. The specific reason we say that is because you need to deliver your private keys into the hands of another party, and rely on that website or exchange to keep your private key, and thus your assets, safe. The advantages of the less-secure exchange or web wallets, are the speed at which you can transfer assets into another currency, or into another exchange for sale or for arbitrage purposes. Despite the convenience factor, all software wallets will at some point have been connected to the internet or a network. So, you can never be 100% sure that your system has not been infected with malware, or some kind of keylogging software, that will allow a third party to record your passwords or private keys. How well the type of storage method limits your contact with such hazards is a good way to rate the security of said variety of wallet. Of all the software wallets, desktop and mobile wallets are the most secure because you download and store your own private key, preferably on a different system. By taking the responsibility of private key storage you can be sure that only one person has possession of it, and that is you! Thereby greatly increasing the security of your crypto assets. By having their assets in a desktop wallet, traders can guard their private key and enjoy the associated heightened security levels, as well keep their assets just one swift transfer away from an exchange.
Hardware Wallets Advantages and Limitations
We briefly touched on the features and operation of the two most popular hardware wallets currently on the market, the Ledger and Trezor wallets. Now it will be helpful to take a closer look into the pros and cons of the hardware wallet storage method. With hardware wallets, the private keys are stored within a protected area of the microcontroller, and they are prevented from being exported out of the device in plain text. They are fortified with state-of-the-art cryptography that makes them immune to computer viruses and malware. And much of the time, the software is open source, which allows user validation of the entire performance of the device. The advantages of a hardware wallet over the perhaps more secure paper wallet method of crypto storage is the interactive user experience, and also the fact that the private key must at some stage be downloaded in order to use the paper wallet. The main disadvantage of a hardware wallet is the time-consuming extra steps needed to transfer funds out of this mode of storage to an exchange, which could conceivably result in some traders missing out on profits. But with security being the main concern of the vast majority of holders, investors and traders too, this slight drawback is largely inconsequential in most situations.
Paper Wallets Advantages and Limitations
Paper wallets are thought by some to be the safest way to store your crypto assets, or more specifically, the best method of guarding the pathways to your assets on the Blockchain. By printing out your private key information, the route to your assets on the Blockchain is stored 100% offline (apart from the act of printing the private key out, the entire process is totally offline). This means that you will not run the risk of being infected with malware or become the victim of keylogging scams. The main drawback of using paper wallets is that you are in effect putting all your eggs in one basket, and if the physical document is destroyed, you will lose access to your crypto assets forever.
Key things to keep in mind about your Wallet Security: Recovery Phrases/Private Key Storage/2FA/Email Security
Recovery phrases are used to recover the on-chain location for your wallet with your assets for hardware wallets like ledgers and Trezors that have been lost. When you purchase a new ledger for example, you just have to set it up again by entering the recovery phrase into the display and the lost wallets will appear with your assets intact. Private key storage is of paramount importance to maintain the safety of your on-chain assets! This should be done in paper wallet form, or stored offline on a different computer, or USB device, from the one you would typically use to connect to the 2 Factor Authentication (2FA) sometimes known as “two step authentication”. This feature offers an extra security layer when withdrawing funds from cryptocurrency wallets. A specialized app, most commonly Google Authenticator, is synced up to the exchange to provide a constantly changing code. This code must be entered within a short time window to initiate transfers, or to log into an exchange, if it has also been enabled for that purpose.
You must always consider the level of fees, or the amount of Gas, that will be needed to carry out the transaction. In times of high network activity Gas prices can be quite high. In fact, in December 2017 network fees became so high that some Bitcoin transactions became absolutely unfeasible. But that was basically due to the anomalous network congestion caused by frantic trading of Bitcoin as it was skyrocketing in value. When copying wallet addresses, double check and triple check that they are correct. If you make a mistake and enter an incorrect address, it is most likely your funds will be irretrievably lost; you will never see those particular assets again. Also check that you haven’t input the address of another one of your wallets that is designed to hold a different variety of cryptocurrency. You would similarly run the very great risk of losing your funds forever. Or, at the very least, if you have sent the wrong crypto to a large exchange wallet, for example on Coinbase, maybe you could eventually get those funds back, but it would still entail a long and unenjoyable wait.
How to Monitor Funds
There are two ways to monitor you funds and your wallets. The first is by searching for individual wallet addresses on websites specifically designed to let you view all the transactions on a particular Blockchain. The other is to store a copy of your wallet contents on an application that tracks the prices of all cryptocurrencies. Blockchain.info is the block explorer for Bitcoin, and it allows you to track all wallet movements so you can view your holdings and all the historical transactions within the wallet. The Ethereum blockchain’s block explorer is called Ether scanner, and it functions in the same way. There is a rival to Ether scanner produced by the Jibrel Network, called JSearch which will be released soon. JSearch will aim to offer a more streamlined and faster search method for Ethereum blockchain transactions. There are many different kinds of block explorer for each individual crypto currency, including nanoexplorer.io for Nano (formerly Rai Blocks) and Neotracker for NEO. If you simply want to view the value of your portfolio, the Delta and Blockfolio apps allow you to easily do that. But they are not actually linked to your specific wallet address, they just show price movements and total value of the coins you want to monitor.
That’s not all! You can learn how to transfer and monitor the funds in and out of your wallet by clicking on the link.
To be continued!
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submitted by UBAI_UNIVERSITY to u/UBAI_UNIVERSITY [link] [comments]

OpenBazaar store name registration compromised, caveat emptor.

Like most people here I been anticipating the launch of OpenBazaar. On a recent post about the project a small detail got my attention, it uncover the fact that the project has been compromised by the same corporations we are trying to replace.
http://imgur.com/K3TmPYH taken from: https://www.youtube.com/watch?v=ijE6ktEsm4o
Union Square Ventures: http://www.usv.com/portfolio OneName and OB1 (dev team behind OpenBazaar) http://imgur.com/WthBLjk Also ETSY: https://www.usv.com/blog/etsy "online marketplace for products sold by artisanal businesses"
The OneName & OpenBazaar connection:
When you create a store in OpenBazaar you are given a string of characters that represent your store on the network, This long string is obviously not memorable or marketable, so you need to get an store name that resolves into the string. Similar to a Domain, resolving into an IP.
Users signing up for an OpenBazaar store are directed to create an account with OneName, an startup that got funding from Union Square. Open Bazaar also got an investment from them, which is great, until you realise that unless you are Nakamoto, there is no free lunch. http://imgur.com/K3TmPYH
We all know that when you don't pay for a product, you are the product. Please ask OneName what is their business model, how do they make money? http://imgur.com/bekR26r
OneName provides a web API that resolves OpenBazar store names, you post a user store ID to them, and they reply with the data that OpenBaazar needs in order to locate and display the store. If you request the CoolToys store, you request is submitted to the OneName web API, which answers with the correct string that represents the store. The OpenBazaar client receives this and shows you the store. Basically a centralised OpenBazaar DNS. Goodbye privacy. http://imgur.com/ZOphgXb
Turns out that when Namecoin was created; 2 sections on it where definen as standard. The /d section for Domains , and the /id section for IDs.
Obviously the idea behind the Namecoin IDs, is that everyone can use the same section and avoid collisions. That way there will be an open source unique blockchain where you can own your identity credentials. Every service could then use this ID location, so you will never need to register again for an internet service.
OneName came to light mid 2014, and avoided using the already existent /ID section (which be the time already had registers) and instead create their own section inside Namecoin; the /u and /i sections or "Namespaces". When you register at the OneName website an entry is created in Namecoin /u and /i . If you ask them why did they not use the /ID namespace (as expected by anyone writing ID data on Namecoin), they say is because they did not have enough space to store all their data. They solve this by using 2 namespaces instead of one. How clever!
http://imgur.com/43AXKSS https://wiki.namecoin.info/index.php?title=OneName They needed the extra space to list ALL your social networks? they could have done exactly the same inside /ID.
The real reason to create a new namespace was so that they can control and register the names to all stores. I found this last night after waiting for the Namecoin blockchain to sync, tried to register some names at the newly created non-standard /u namespace. Every single good store name is taken!
"Option #2 (NAMECOIN) is for developers who want to register directly on the blockchain manually" https://twitter.com/muneeb/status/623453126494916610 Developers only?
OneName will force you into OpenBazaar using their API, so that they can restrict you to the /U namespace that they fully control. It wont work with the Namecoin standard /ID namespace! Hello aftermarket for OpenBazaar names! https://api.onename.com/
Before Capital Ventures funded OpenBazaar, the plan was to go with Namecoin /ID standard as referenced here: https://github.com/OpenBazaaOpenBazaaissues/484 OneName got away with it even after the same OpenBazaar devs pointed the reason why the standard /id namespace was the right choice.
So what is the alternative?
Any Namecoin blockexplorer could easily answer requests to resolve the /ID Namespace. http://explorer.namecoin.info/n/id/mike (Is the current OneName web api derived from an open source block explorer?).
Why put all the trust on OneName untested protocol, while we have the alternative of using multiple available Namecoin explorers? Maybe users can select one that they trust, just as we do with DNS now.
Namecoin SPV could soon resolve this without the need of centralised servers, while is not ready just yet, there is an ongoing effort to have it ready soon. Data will then be safe on a well proven blockchain that was even part of Satoshi work.
If we do not do this we have a great risk. OpenBazaar being the first major user of crypto based IDs will make OneName successful on hijacking the Namecoin /ID namespace. The rogue namespace will have enough traction to become the standard; they will not only control the but also the , and associated web of trust.
http://imgur.com/IZeSYIf (Do u/gavinandresen, u/vbuterin and Jeff Garzik really endorse them, or are their images been abused?)
Yet another reason to re-consider OneName is that they have stated that they are blockchain agnostic, and been discussing moving away from Namecoin (read if they are not successful hijacking the /ID namespace they will move). That will also mean that they will move YOUR ID DATA at THEIR convenience. How will data from people for which private keys do not control, be moved? See OneName's Blockstore project.
Finally, If OpenBazaar is as successful as we all want it to be, the hijacking of Namecoin will not only affect OpenBazaar but will affect all Bitcoin users. If a network effect is created around the OneName rogue names and resolvers, you will soon depend on them too.
Dear OpenBazaar Devs, everyone appreciates the hard work you are putting into this project. The implications of your work go beyond creating a new market. Please realise that OneName's /U is a trap. Reconsider your OneName affiliation and remain true to the idea of creating a free and decentralised market that is independent of the interest of corporations. Letting OneName and affiliated corporations, set the rules to resolve and control the names of stores and users in a rogue namespace with a constantly changing untested protocol does not stand by the open free market goals; have strong implication on the Bitcoin ecosystem, and will ultimate result in a OpenBazaar fork.
Att. Unhappy Ebay & ETSY user.
Edit1: Please review this: https://www.reddit.com/Bitcoin/comments/3es6dy/openbazaar_store_name_registration_compromised/cti09hj
submitted by 4goodbazaar to Bitcoin [link] [comments]

The Mike Hearn Show: Season Finale (and Bitcoin Classic: Series Premiere)

This post debunks Mike Hearn's conspiracy theories RE Blockstream in his farewell post and points out issues with the behavior of the Bitcoin Classic hard fork and sketchy tactics of its advocates
I used to be torn on how to judge Mike Hearn. On the one hand he has done some good work with BitcoinJ, Lighthouse etc. Certainly his choice of bloom filter has had a net negative effect on the privacy of SPV users, but all in all it works as advertised.* On the other hand, he has single handedly advocated for some of the most alarming behavior changes in the Bitcoin network (e.g. redlists, coinbase reallocation, BIP101 etc...) to date. Not to mention his advocacy in the past year has degraded from any semblance of professionalism into an adversarial us-vs-them propaganda train. I do not believe his long history with the Bitcoin community justifies this adversarial attitude.
As a side note, this post should not be taken as unabated support for Bitcoin Core. Certainly the dev team is made of humans and like all humans mistakes can be made (e.g. March 2013 fork). Some have even engaged in arguably unprofessional behavior but I have not yet witnessed any explicitly malicious activity from their camp (q). If evidence to the contrary can be provided, please share it. Thankfully the development of Bitcoin Core happens more or less completely out in the open; anyone can audit and monitor the goings on. I personally check the repo at least once a day to see what work is being done. I believe that the regular committers are genuinely interested in the overall well being of the Bitcoin network and work towards the common goal of maintaining and improving Core and do their best to juggle the competing interests of the community that depends on them. That is not to say that they are The Only Ones; for the time being they have stepped up to the plate to do the heavy lifting. Until that changes in some way they have my support.
The hard line that some of the developers have drawn in regards to the block size has caused a serious rift and this write up is a direct response to oft-repeated accusations made by Mike Hearn and his supporters about members of the core development team. I have no affiliations or connection with Blockstream, however I have met a handful of the core developers, both affiliated and unaffiliated with Blockstream.
Mike opens his farewell address with his pedigree to prove his opinion's worth. He masterfully washes over the mountain of work put into improving Bitcoin Core over the years by the "small blockians" to paint the picture that Blockstream is stonewalling the development of Bitcoin. The folks who signed Greg's scalability road map have done some of the most important, unsung work in Bitcoin. Performance improvements, privacy enhancements, increased reliability, better sync times, mempool management, bandwidth reductions etc... all those things are thanks to the core devs and the research community (e.g. Christian Decker), many of which will lead to a smoother transition to larger blocks (e.g. libsecp256k1).(1) While ignoring previous work and harping on the block size exclusively, Mike accuses those same people who have spent countless hours working on the protocol of trying to turn Bitcoin into something useless because they remain conservative on a highly contentious issue that has tangible effects on network topology.
The nature of this accusation is characteristic of Mike's attitude over the past year which marked a shift in the block size debate from a technical argument to a personal one (in tandem with DDoS and censorship in /Bitcoin and general toxicity from both sides). For example, Mike claimed that sidechains constitutes a conflict of interest, as Blockstream employees are "strongly incentivized to ensure [bitcoin] works poorly and never improves" despite thousands of commits to the contrary. Many of these commits are top down rewrites of low level Bitcoin functionality, not chump change by any means. I am not just "counting commits" here. Anyways, Blockstream's current client base consists of Bitcoin exchanges whose future hinges on the widespread adoption of Bitcoin. The more people that use Bitcoin the more demand there will be for sidechains to service the Bitcoin economy. Additionally, one could argue that if there was some sidechain that gained significant popularity (hundreds of thousands of users), larger blocks would be necessary to handle users depositing and withdrawing funds into/from the sidechain. Perhaps if they were miners and core devs at the same time then a conflict of interest on small blocks would be a more substantive accusation (create artificial scarcity to increase tx fees). The rational behind pricing out the Bitcoin "base" via capacity constraint to increase their business prospects as a sidechain consultancy is contrived and illogical. If you believe otherwise I implore you to share a detailed scenario in your reply so I can see if I am missing something.
Okay, so back to it. Mike made the right move when Core would not change its position, he forked Core and gave the community XT. The choice was there, most miners took a pass. Clearly there was not consensus on Mike's proposed scaling road map or how big blocks should be rolled out. And even though XT was a failure (mainly because of massive untested capacity increases which were opposed by some of the larger pools whose support was required to activate the 75% fork), it has inspired a wave of implementation competition. It should be noted that the censorship and attacks by members of /Bitcoin is completely unacceptable, there is no excuse for such behavior. While theymos is entitled to run his subreddit as he sees fit, if he continues to alienate users there may be a point of mass exodus following some significant event in the community that he tries to censor. As for the DDoS attackers, they should be ashamed of themselves; it is recommended that alt. nodes mask their user agents.
Although Mike has left the building, his alarmist mindset on the block size debate lives on through Bitcoin Classic, an implementation which is using a more subtle approach to inspire adoption, as jtoomim cozies up with miners to get their support while appealing to the masses with a call for an adherence to Satoshi's "original vision for Bitcoin." That said, it is not clear that he is competent enough to lead the charge on the maintenance/improvement of the Bitcoin protocol. That leaves most of the heavy lifting up to Gavin, as Jeff has historically done very little actual work for Core. We are thus in a potentially more precarious situation then when we were with XT, as some Chinese miners are apparently "on board" for a hard fork block size increase. Jtoomim has expressed a willingness to accept an exceptionally low (60 or 66%) consensus threshold to activate the hard fork if necessary. Why? Because of the lost "opportunity cost" of the threshold not being reached.(c) With variance my guess is that a lucky 55% could activate that 60% threshold. That's basically two Chinese miners. I don't mean to attack him personally, he is just willing to go down a path that requires the support of only two major Chinese mining pools to activate his hard fork. As a side effect of the latency issues of GFW, a block size increase might increase orphan rate outside of GFW, profiting the Chinese pools. With a 60% threshold there is no way for miners outside of China to block that hard fork.
To compound the popularity of this implementation, the efforts of Mike, Gavin and Jeff have further blinded many within the community to the mountain of effort that core devs have put in. And it seems to be working, as they are beginning to successfully ostracize the core devs beyond the network of "true big block-believers." It appears that Chinese miners are getting tired of the debate (and with it Core) and may shift to another implementation over the issue.(d) Some are going around to mining pools and trying to undermine Core's position in the soft vs. hard fork debate. These private appeals to the miner community are a concern because there is no way to know if bad information is being passed on with the intent to disrupt Core's consensus based approach to development in favor of an alternative implementation controlled (i.e. benevolent dictator) by those appealing directly to miners. If the core team is reading this, you need to get out there and start pushing your agenda so the community has a better understanding of what you all do every day and how important the work is. Get some fancy videos up to show the effects of block size increase and work on reading materials that are easy for non technically minded folk to identify with and get behind.
The soft fork debate really highlights the disingenuity of some of these actors. Generally speaking, soft forks are easier on network participants who do not regularly keep up with the network's software updates or have forked the code for personal use and are unable to upgrade in time, while hard forks require timely software upgrades if the user hopes to maintain consensus after a hardfork. The merits of that argument come with heavy debate. However, more concerning is the fact that hard forks require central planning and arguably increase the power developers have over changes to the protocol.(2) In contrast, the 'signal of readiness' behavior of soft forks allows the network to update without any hardcoded flags and developer oversight. Issues with hard forks are further compounded by activation thresholds, as soft forks generally require 95% consensus while Bitcoin Classic only calls for 60-75% consensus, exposing network users to a greater risk of competing chains after the fork. Mike didn't want to give the Chinese any more power, but now the post XT fallout has pushed the Chinese miners right into the Bitcoin Classic drivers seat.
While a net split did happen briefly during the BIP66 soft fork, imagine that scenario amplified by miners who do not agree to hard fork changes while controlling 25-40% of the networks hashing power. Two actively mined chains with competing interests, the Doomsday Scenario. With a 5% miner hold out on a soft fork, the fork will constantly reorg and malicious transactions will rarely have more than one or two confirmations.(b) During a soft fork, nodes can protect themselves from double spends by waiting for extra confirmations when the node alerts the user that a ANYONECANSPEND transaction has been seen. Thus, soft forks give Bitcoin users more control over their software (they can choose to treat a softfork as a soft fork or a soft fork as a hardfork) which allows for greater flexibility on upgrade plans for those actively maintaining nodes and other network critical software. (2) Advocating for a low threshold hard forks is a step in the wrong direction if we are trying to limit the "central planning" of any particular implementation. However I do not believe that is the main concern of the Bitcoin Classic devs.
To switch gears a bit, Mike is ironically concerned China "controls" Bitcoin, but wanted to implement a block size increase that would only increase their relative control (via increased orphans). Until the p2p wire protocol is significantly improved (IBLT, etc...), there is very little room (if any at all) to raise the block size without significantly increasing orphan risk. This can be easily determined by looking at jtoomim's testnet network data that passed through normal p2p network, not the relay network.(3) In the mean time this will only get worse if no one picks up the slack on the relay network that Matt Corallo is no longer maintaining. (4)
Centralization is bad regardless of the block size, but Mike tries to conflate the centralization issues with the Blockstream block size side show for dramatic effect. In retrospect, it would appear that the initial lack of cooperation on a block size increase actually staved off increases in orphan risk. Unfortunately, this centralization metric will likely increase with the cooperation of Chinese miners and Bitcoin Classic if major strides to reduce orphan rates are not made.
Mike also manages to link to a post from the ProHashing guy RE forever-stuck transactions, which has been shown to generally be the result of poorly maintained/improperly implemented wallet software.(6) Ultimately Mike wants fees to be fixed despite the fact you can't enforce fixed fees in a system that is not centrally planned. Miners could decide to raise their minimum fees even when blocks are >1mb, especially when blocks become too big to reliably propagate across the network without being orphaned. What is the marginal cost for a tx that increases orphan risk by some %? That is a question being explored with flexcaps. Even with larger blocks, if miners outside the GFW fear orphans they will not create the bigger blocks without a decent incentive; in other words, even with a larger block size you might still end up with variable fees. Regardless, it is generally understood that variable fees are not preferred from a UX standpoint, but developers of Bitcoin software do not have the luxury of enforcing specific fees beyond basic defaults hardcoded to prevent cheap DoS attacks. We must expose the user to just enough information so they can make an informed decision without being overwhelmed. Hard? Yes. Impossible. No.
Shifting gears, Mike states that current development progress via segwit is an empty ploy, despite the fact that segwit comes with not only a marginal capacity increase, but it also plugs up major malleability vectors, allows pruning blocks for historical data and a bunch of other fun stuff. It's a huge win for unconfirmed transactions (which Mike should love). Even if segwit does require non-negligible changes to wallet software and Bitcoin Core (500 lines LoC), it allows us time to improve block relay (IBLT, weak blocks) so we can start raising the block size without fear of increased orphan rate. Certainly we can rush to increase the block size now and further exacerbate the China problem, or we can focus on the "long play" and limit negative externalities.
And does segwit help the Lightning Network? Yes. Is that something that indicates a Blockstream conspiracy? No. Comically, the big blockians used to criticize Blockstream for advocating for LN when there was no one working on it, but now that it is actively being developed, the tune has changed and everything Blockstream does is a conspiracy to push for Bitcoin's future as a dystopic LN powered settlement network. Is LN "the answer?" Obviously not, most don't actually think that. How it actually works in practice is yet to be seen and there could be unforseen emergent characteristics that make it less useful for the average user than originally thought. But it's a tool that should be developed in unison with other scaling measures if only for its usefulness for instant txs and micropayments.
Regardless, the fundamental divide rests on ideological differences that we all know well. Mike is fine with the miner-only validation model for nodes and is willing to accept some miner centralization so long as he gets the necessary capacity increases to satisfy his personal expectations for the immediate future of Bitcoin. Greg and co believe that a distributed full node landscape helps maintain a balance of decentralization in the face of the miner centralization threat. For example, if you have 10 miners who are the only sources for blockchain data then you run the risk of undetectable censorship, prolific sybil attacks, and no mechanism for individuals to validate the network without trusting a third party. As an analogy, take the tor network: you use it with an expectation of privacy while understanding that the multi-hop nature of the routing will increase latency. Certainly you could improve latency by removing a hop or two, but with it you lose some privacy. Does tor's high latency make it useless? Maybe for watching Netflix, but not for submitting leaked documents to some newspaper. I believe this is the philosophy held by most of the core development team.
Mike does not believe that the Bitcoin network should cater to this philosophy and any activity which stunts the growth of on-chain transactions is a direct attack on the protocol. Ultimately however I believe Greg and co. also want Bitcoin to scale on-chain transactions as much as possible. They believe that in order for Bitcoin to increase its capacity while adhering to acceptable levels of decentralization, much work needs to be done. It's not a matter of if block size will be increased, but when. Mike has confused this adherence to strong principles of decentralization as disingenuous and a cover up for a dystopic future of Bitcoin where sidechains run wild with financial institutions paying $40 per transaction. Again, this does not make any sense to me. If banks are spending millions to co-op this network what advantage does a decentralized node landscape have to them?
There are a few roads that the community can take now: one where we delay a block size increase while improvements to the protocol are made (with the understanding that some users may have to wait a few blocks to have their transaction included, fees will be dependent on transaction volume, and transactions <$1 may be temporarily cost ineffective) so that when we do increase the block size, orphan rate and node drop off are insignificant. Another is the immediate large block size increase which possibly leads to a future Bitcoin which looks nothing like it does today: low numbers of validating nodes, heavy trust in centralized network explorers and thus a more vulnerable network to government coercion/general attack. Certainly there are smaller steps for block size increases which might not be as immediately devastating, and perhaps that is the middle ground which needs to be trodden to appease those who are emotionally invested in a bigger block size. Combined with segwit however, max block sizes could reach unacceptable levels. There are other scenarios which might play out with competing chains etc..., but in that future Bitcoin has effectively failed.
As any technology that requires maintenance and human interaction, Bitcoin will require politicking for decision making. Up until now that has occurred via the "vote download" for software which implements some change to the protocol. I believe this will continue to be the most robust of options available to us. Now that there is competition, the Bitcoin Core community can properly advocate for changes to the protocol that it sees fit without being accused of co-opting the development of Bitcoin. An ironic outcome to the situation at hand. If users want their Bitcoins to remain valuable, they must actively determine which developers are most competent and have their best interests at heart. So far the core dev community has years of substantial and successful contributions under its belt, while the alt implementations have a smattering of developers who have not yet publicly proven (besides perhaps Gavin--although his early mistakes with block size estimates is concerning) they have the skills and endurance necessary to maintain a full node implementation. Perhaps now it is time that we focus on the personalities who many want to trust Bitcoin's future. Let us see if they can improve the speed at which signatures are validated by 7x. Or if they can devise privacy preserving protocols like Confidential Transactions. Or can they figure out ways to improve traversal times across a merkle tree? Can they implement HD functionality into a wallet without any coin-crushing bugs? Can they successfully modularize their implementation without breaking everything? If so, let's welcome them with open arms.
But Mike is at R3 now, which seems like a better fit for him ideologically. He can govern the rules with relative impunity and there is not a huge community of open source developers, researchers and enthusiasts to disagree with. I will admit, his posts are very convincing at first blush, but ultimately they are nothing more than a one sided appeal to the those in the community who have unrealistic or incomplete understandings of the technical challenges faced by developers maintaining a consensus critical, validation-heavy, distributed system that operates within an adversarial environment. Mike always enjoyed attacking Blockstream, but when survey his past behavior it becomes clear that his motives were not always pure. Why else would you leave with such a nasty, public farewell?
To all the XT'ers, btc'ers and so on, I only ask that you show some compassion when you critique the work of Bitcoin Core devs. We understand you have a competing vision for the scaling of Bitcoin over the next few years. They want Bitcoin to scale too, you just disagree on how and when it should be done. Vilifying and attacking the developers only further divides the community and scares away potential future talent who may want to further the Bitcoin cause. Unless you can replace the folks doing all this hard work on the protocol or can pay someone equally as competent, please think twice before you say something nasty.
As for Mike, I wish you the best at R3 and hope that you can one day return to the Bitcoin community with a more open mind. It must hurt having your software out there being used by so many but your voice snuffed. Hopefully one day you can return when many of the hard problems are solved (e.g. reduced propagation delays, better access to cheap bandwidth) and the road to safe block size increases have been paved.
(*) https://eprint.iacr.org/2014/763.pdf
(q) https://github.com/bitcoinclassic/bitcoinclassic/pull/6
(b) https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe012026.html
(c) https://github.com/bitcoinclassic/bitcoinclassic/pull/1#issuecomment-170299027
(d) http://toom.im/jameshilliard_classic_PR_1.html
(0) http://bitcoinstats.com/irc/bitcoin-dev/logs/2016/01/06
(1) https://github.com/bitcoin/bitcoin/graphs/contributors
(2) https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe012014.html
(3) https://toom.im/blocktime (beware of heavy website)
(4) https://bitcointalk.org/index.php?topic=766190.msg13510513#msg13510513
(5) https://news.ycombinator.com/item?id=10774773
(6) http://rusty.ozlabs.org/?p=573
edit, fixed some things.
edit 2, tried to clarify some more things and remove some personal bias thanks to astro
submitted by citboins to Bitcoin [link] [comments]

How to backup bitcoin wallet Magicoin Mining Tutorial Cardano (ADA) Wallet: Troubleshooting Deadalus Sync issues Get your Bitcoin Core Wallet Up and Running Link in Duscription How to Sync the AeroCoin wallet on Windows

I hadn't started/used my Bitcoin client for ages. Now, whenever I start the client, it is downloading block 135407 and does not progress past it. there were a lot of lines referring to orphan blocks in my debug.log file (not 100 % sure it’s related but it may): 2014-08-18 20:52:57 ProcessBlock: ORPHAN BLOCK 0, prev This seems to have fixed the json problem. As far as the server, I simply had forgotten to open the rpc port and not just the port. However, my client *coin-qt program continually says 'out of sync' and just says 'catching up. downloaded 0 blocks of transaction history. last block was 2 days ago.' That is the genesis block. [4] If you’ve been running a full node or the QT wallet on your desktop since 2014 or prior; You probably remember the synchronization dilemmas, maybe even the tricks and tips to speed up the Situation #2: Set Up Bitcoin-Qt Faster 5 Steps to Install and Set Up Bitcoin-Qt (now Bitcoin Core) Faster applicable to v 0.9.3 and before UPDATE : As of Bitcoin Core version (formerly Bitcoin-Qt) 0.10.0 and later, the block chain bootstrap torrent is *slower* than a direct download using the bitcoin P2P protocol & client. 2 Slow Syncing Between Blocks 2,283,397 And 2,717,576; 3 How to recover from slow syncing? 4 How can I tell if my node client is fast syncing or not? 4.1 Fast Sync In Progress; 4.2 Fast Sync Just Completed, Transitioning To Normal Sync; 4.3 Normal Sync In Progress; 5 Alternatives. 5.1 Use Parity Node Client And User Interface

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How to backup bitcoin wallet

How to mine bitcoins (solo mining) with the core client! (*solo mining now removed from client*) - Duration: 1:00. Bitcoin Blaster 49,301 views Found my wallet backup from 2014 and tried to sync it. It wouldn't sync but the solution for me was to update to the latest version of Multibit and resync. Multibit is no longer supported so its ... Fix NoLimitCoin Wallet Crashing or Not Syncing Issues - Duration: 4:34. ... Quick windows fix if blocks aren't syncing or stuck in Daedalus ... Recover your Bitcoin Core wallet password with ... Published on Jul 1, 2014 I've seen several comments in the AeroCoin ANN thread on Bitcoin Talk that people aren't able to get the AeroCoin wallet to sync. This video will help you do just that. What happened is your wallet accidentally download a "bad block". ... How to create wallet and fast sync network Dimecoin IT Vlogs ... Backup And Restore A Bitcoin Wallet. Or, Almost Any ...

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