21 Best Bitcoin Hardware, Mobile & Desktop Wallets (2020)
Paper wallet. All about cryptocurrency - BitcoinWiki
Shift: The Next-Gen Blockchain with Phantom, a Killer dApp for Decentralized Web and File Hosting
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If you are new to investing into Cryptocurrencies this summary might help you.
Knowing basic terms:
You'll stumble across a lot of terms and expressions some are of technical & some of financial nature, for example:
What actually is the blockchain, how does Bitcoin work under the hood, what is proof of stake...?
It's also important to know what are some basic terms concerning investing in general:
marketcap, volume, liquidity, dollar cost average...
Following Crypto News:
May it be our beloved cc, twitter, big new-sites like cointelegraph - stay up to date. Knowing what is going on in the sphere can give you an edge but also mind the saying "buy the rumor, sell the news"!
Having an investment strategy:
Strategies will help you to control your emotions - act as rational as possible.
Define goals at what pricepoint you want to buy and when to sell an asset (entrance/exit strategies).
Don't buy or sell all your coins at once - do it in smaller steps because you never know when the price is right (use methods like Dollar cost averaging).
Patience: in this fast reacting market everybody chases quick money but if you wait for a strategy to pay off, or that a price recovers to recoup losses it can take weeks, months, years.
Don't chase pumps - it's often already over if a coin has pumped and you'll end up as "bagholder" buying in at high prices.
Don't invest more than you are willing to lose (it even hurts to lose small portions of money so be careful and responsible)
Diversify - don't put all eggs in one basket. Split your investments up into Coins that already are etablished, like BTC, ETH, add some promising Altcoins and only a small portion of moonshots for gambling...
Be prepared & don't get scammed:
Use apps like blockfolio or coinstats to track prices on your mobile device or visit webpages like coingecko and coinmarketcap.
Use Hardware wallets like Ledger & Trezor to store your assets safely - remember not your keys not your coins...
Don't leave too much money on exchanges.
Write always down your passwords, passphrases and seed words (best on paper away from your computer). You'll regret if you don't.
Never ever send someone those private information, don't reply to uninitiated chats or open suspicious mails.
Watch out for "Crypto gurus" promoting their pump and dump schemes.
There have been many recent posts about the blackmail email scam, so I have written this post and will keep it stickied until the posts about the scam die down. Blackmail email scams have that name because they started as an email spam campaign, however there have also been reports of these scams being sent via SMS and physical mail. If you are reading this because you have received one of these emails and you are worried, you can stop worrying. The blackmail email scam is a spam campaign that is sent out to thousands of addresses at a time. The threats are lies and you do not have anything to worry about. In many cases, the emails will contain some sort of privileged information about you such as your name, part or all of your phone number, and your password.The emails may also look like they were sent from your own email address. The data is gathered from data breaches, and if the email looks like it came from your account that is due to email spoofing. You can use the service Have I Been Pwned? to see if you are in any publicly known data breaches. If you receive an email that contains a password that you currently use, you should immediately change that. Current recommended password guidelines say that you should use a different, complex password for every account. You can generate and save passwords using a password manager for convenience. You should also be using two factor authentication using an app like Google Authenticator instead of receiving codes through SMS. Here are some news articles about this scam. Here is a story from Brian Krebs, and here is a story from the New York Times. Below are a few examples, but if you receive an email that is similar but not the same as the examples you see, that does not matter and does not mean that the email is real. The spammers constantly switch up their templates in order to bypass spam filters, so it's normal to receive an email that hasn't yet been posted online.
Hey, some time ago your computer was infected with my private malware, RAT (Remote Administration Tool). I know at the time of infection your passwords was: xxxxxxxxxxx My malware gave me full access to all your accounts, contacts and it also was possible to spy on you over your webcam. Sometimes when I was bored I was spying on you, then once you started to SATISFYING YOURSELF! At first I didn't knew how to react as I was shocked, then I decided to record you, I checked on google and found the software: Bandicam and it did the job. After that I removed my malware to not leave any traces and this email was sent from some hacked account. I can send the video of you to all your friends, contacts and publish it on social networks and the whole web. You can stop me and only I can help you out in this situation. Pay exactly 740$ in Bitcoin (BTC). It's easy to buy Bitcoin (BTC), for example here: https://paxful.com/buy-bitcoin , https://www.buybitcoinworldwide.com/ , https://www.kraken.com/ , or google another exchanger. My Bitcoin (BTC) wallet is: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Yes that's how the wallet looks like, copy and paste it, it's (cAsE-sEnSEtiVE) I give you 3 days time to pay. As I got access to this email account, I will know if this email has already been read, so the time is running. After receiving the payment, I will remove the video and you can life your live in peace like before. Learn from the mistake and update your browser before browsing the web next time! I know XXXX is one of your password on day of hack.. Lets get directly to the point. Not one person has paid me to check about you. You do not know me and you're probably thinking why you are getting this email? in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean). When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam. immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account. after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you. Best solution would be to pay me $1004. We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video. My -BTC -address: 1GohL1jDz8BapZhohN2Xry6AKPq6PiJrjw [case SeNSiTiVe, copy & paste it] You could go on your life like this never happened and you will not ever hear back again from me. You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google). if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too. I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid. if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on. Nevertheless, if i do get paid, i will destroy the recording immediately. If you need proof, reply with Yeah then i will send out your video recording to your 8 friends. it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message. I know xxxxxxxxxxxx is one of your password on day of hack.. Lets get directly to the point. Not one person has paid me to check about you. You do not know me and you're probably thinking why you are getting this email? in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean). When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam. immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account. after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you. Best solution would be to pay me $1013. We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video. My -BTC -address: 1KzA7GYSyvXCmPpojZ4qTbZGmjjbbSfwBg [case SeNSiTiVe, copy & paste it] You could go on your life like this never happened and you will not ever hear back again from me. You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google). if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too. I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid. if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on. Nevertheless, if i do get paid, i will destroy the recording immediately. If you need proof, reply with Yeah then i will send out your video recording to your 8 friends. it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message. Lets get directly to the point. Not one person has paid me to check about you. You do not know me and you're probably thinking why you are getting this email? in fact, i actually placed a malware on the adult vids (adult porn) website and you know what, you visited this site to experience fun (you know what i mean). When you were viewing videos, your browser started out operating as a RDP having a key logger which provided me with accessibility to your display and web cam. immediately after that, my malware obtained every one of your contacts from your Messenger, FB, as well as email account. after that i created a double-screen video. 1st part shows the video you were viewing (you have a nice taste omg), and 2nd part displays the recording of your cam, and its you. Best solution would be to pay me $1002. We are going to refer to it as a donation. in this situation, i most certainly will without delay remove your video. My -BTC -address: 1JXvEapcRCvywymcrYZ1rcCfLfNZKri4LP [case SeNSiTiVe, copy & paste it] You could go on your life like this never happened and you will not ever hear back again from me. You'll make the payment via Bitcoin (if you do not know this, search 'how to buy bitcoin' in Google). if you are planning on going to the law, surely, this e-mail can not be traced back to me, because it's hacked too. I have taken care of my actions. i am not looking to ask you for a lot, i simply want to be paid. if i do not receive the bitcoin;, i definitely will send out your video recording to all of your contacts including friends and family, co-workers, and so on. Nevertheless, if i do get paid, i will destroy the recording immediately. If you need proof, reply with Yeah then i will send out your video recording to your 8 friends. it's a nonnegotiable offer and thus please don't waste mine time & yours by replying to this message. Hello! I'm the software engineer who hacked into your device's OS. I've been observing you for months now. The thing is, you've been infected with malware through the adult website you visited. In case you're not familiar with it, I'll explain. The Trojan infection gives me full access and control over your computer or any other device on your local. It means that I can see everything on your screen, turn on my camera and microphone, but you do not know about it. I also have access to all your contacts, social networking data and all your correspondence. Why didn't your antivirus detect any malware? A: My malware uses a driver, I update its signatures every 4 hours to keep your antivirus silent. I have made a video showing how you satisfy yourself on the left side of the screen, and on the right side you see the video you have been watching. With one click, I can send this video to all your contacts in the email and social networks. I can also publish access to all your emails and messaging apps that you use. If you want to prevent this, at that point: Transfer $400(USD) to my bitcoin wallet (if you do not know how to do it, then type in to Google: "Purchase a bitcoin"). My Bitcoin Wallet:1EGBGBptS9yKNPYYU9qUEoPNLptee8CEq9 After getting the payment, I will destroy the video and you won't hear from me again. I will provide you 50 hours (more than two days) to pay. I have a notice that you read this email and the timer started you opened it. Don't attempt to answer me. It doesn't make any sense (the sender's address is generated by random). Filing a complaint somewhere doesn't make sense, because this email cannot be tracked, and neither can my bitcoin address. I don't make mistakes. If I find that you shared this message with someone else, the video will be distributed immediately. Good luck with that. And here are some common keywords used in the email so that this thread can be found by people Googling the email: "Marlware, international hacker group, No person has compensated, very own video clip, software on the adult, porno sitio, one of your pass word, .br, specific pixel, sexual content web portal, a malware on the adult, a malware on the, double-screen, is a reasonable price tag for our little secret, you have a good taste lmao, I placed a malware on the adult vids, your browser began operating as a RDP, had been abusing yourself in front of computer display, you are one of those people that downloaded the malicious, I made a split-screen video, While you were watching the video, your web browser acted as, malware on the porn website and guess what, an unique pixel, you jerked off while watching an online video, When you pressed the play button the virus begins saving all the things thru, ja.scr, My malicious soft started your front cam, and also send the video link to all of yourfriends, I infected your gadget with a malware and now, AnywaysI downloaded all contacts, my program quickly got into your system, To a time where you jerk off watching","For the present moment I have at my disposal all, When you arouse sexually watching porno, In such a way all needed compromising material and contact, All information to yours SNSs user accounts, You watched sexual content portal and toss","Hello! WannaCry is back! All your, in front of the screen browsing adult stuff, As you flog the dummy watching, U are going to be offered 5 days after checking this notice, RAT 68006, the damnific malware, pastime and entertainment there, not my single victim, beat the dummy, buff the muffin, choke a chicken, front camera capturing video, with you frigging, with you chaturbating, with you masturbating, web digicam, U are going to have 5 dayss, i utilize just hacked wi, pressured this trojan to, glue a pair of videos, glue two videos, the RAT, if you want me to destroy this whole video, downloaded all contacts from your computer, your list of contacts or relatives will, I made a video that shows how you masturbate, hacked you through a virus in an ad on a porn website, my illiteracy, nоt mind on my illiterаcy, I рilfered all рrivy bаckground, videоtaре with yоur masturbаtion, my delеtеrious soft, cаmеra shооt the videоtaрe, you sеlf-аbusing, Differently I will send the video to all your colleagues and friends, your front-camera made the videotape with you self-abusing, RAT 98390 malware, the minute you went to one adult page, information to contact info I discovered on your devices and remember there is a lot of these, not including Double VPN As a result, I forced my malware to hook up to a mic, web camera and catch the video from it, poisoned a number of adult sites, video clip to fit on a single tv screen, This letter has invisible monitoring program inside and i will be aware of when you are going to check, doing ur stuff and a clip u jerked to, the investigation will last, I uploaded our malicious program on your device, furthermore malware saved exactly the video you chose, its a record with your wanking, friends will see u taking proper care of yourself, Your system is controlled by the malicious program, If you were more careful while playing with yourself, that whacking off to adult web-sites is, adult website which was poisoned with my malware, nor i think that jerking off to porn sites is really a gross thing, so I dgf lmao, proof just reply to this email with, if you want me to destroy all this compromising evidence, will send your video to 5 contacts, amount in Usd that can cope with this scenario, You are welcome to contact your local authorities, If you want proof, reply with, i pride myself in being apart of an internet group, so i dgf, I take good care of my being anonymous, information related to the RAT virus, been able get in to all ur units, to all of your contacts including, search engines like goo, case sensitive, so copy,, and at this moment I, It is a non-nego, don't waste my perso, thi s mes, back while visiting, showe ring, what should you do ?, porno webpage, this embarrassing situation, navigated to the page, bare-assed, on well-known websites and publications, I got an order from someone to kill you and your family, immediately kill your family, is an explosive device, My mercenary is, explosive device detonates, triggered your webcam, piquant websites, my exploit downloaded, replenish btc wallet, instantaneously erase, actual recorded material, neglect this email, my RAT trojan, video you jerked, I used keylogger, your disk dump, malware intercepts, installed a malware, remove your video footage, RAT onto your computer, greasy stimulating actions, excentric preferrables, porn web-page, to your Tax Department, network will be DDoS, friends, WannaCry, building a protection policy, in Tax Departament, Yours service going, we pass CloudFlare, hear fake-experts, backuped phone, -1663, of your joys, digits your phone, (porno), BIG pervert, both files and scale, naughty video clips, Soy un hacker, I installed spyware, n website with teen, malware on the porn website, very own recorded material""Marlware, international hacker group, No person has compensated, very own video clip, software on the adult, porno sitio, one of your pass word, specific pixel, sexual content web portal, a malware on the adult, a malware on the, double-screen, is a reasonable price tag for our little secret, you have a good taste lmao, I placed a malware on the adult vids, your browser began operating as a RDP, had been abusing yourself in front of computer display, you are one of those people that downloaded the malicious, I made a split-screen video, While you were watching the video, your web browser acted as, malware on the porn website and guess what, an unique pixel, you jerked off while watching an online video, When you pressed the play button the virus begins saving all the things thru, ja.scr, My malicious soft started your front cam, and also send the video link to all of yourfriends, I infected your gadget with a malware and now, AnywaysI downloaded all contacts, my program quickly got into your system, To a time where you jerk off watching","For the present moment I have at my disposal all, When you arouse sexually watching porno, In such a way all needed compromising material and contact, All information to yours SNSs user accounts, You watched sexual content portal and toss","Hello! WannaCry is back! All your, in front of the screen browsing adult stuff, As you flog the dummy watching, U are going to be offered 5 days after checking this notice, RAT 68006, the damnific malware, pastime and entertainment there, not my single victim, beat the dummy, buff the muffin, choke a chicken, front camera capturing video, with you frigging, with you chaturbating, with you masturbating, web digicam, U are going to have 5 dayss, i utilize just hacked wi, pressured this trojan to, glue a pair of videos, glue two videos, the RAT, if you want me to destroy this whole video, downloaded all contacts from your computer, your list of contacts or relatives will, I made a video that shows how you masturbate, hacked you through a virus in an ad on a porn website, my illiteracy, nоt mind on my illiterаcy, I рilfered all рrivy bаckground, videоtaре with yоur masturbаtion, my delеtеrious soft, cаmеra shооt the videоtaрe, you sеlf-аbusing, Differently I will send the video to all your colleagues and friends, your front-camera made the videotape with you self-abusing, RAT 98390 malware, the minute you went to one adult page, information to contact info I discovered on your devices and remember there is a lot of these, not including Double VPN As a result, I forced my malware to hook up to a mic, web camera and catch the video from it, poisoned a number of adult sites, video clip to fit on a single tv screen, This letter has invisible monitoring program inside and i will be aware of when you are going to check, doing ur stuff and a clip u jerked to, the investigation will last, I uploaded our malicious program on your device, furthermore malware saved exactly the video you chose, its a record with your wanking, friends will see u taking proper care of yourself, Your system is controlled by the malicious program, If you were more careful while playing with yourself, that whacking off to adult web-sites is, adult website which was poisoned with my malware, nor i think that jerking off to porn sites is really a gross thing, so I dgf lmao, proof just reply to this email with, if you want me to destroy all this compromising evidence, will send your video to 5 contacts, amount in Usd that can cope with this scenario, You are welcome to contact your local authorities, If you want proof, reply with, i pride myself in being apart of an internet group, so i dgf, I take good care of my being anonymous, information related to the RAT virus, been able get in to all ur units, to all of your contacts including, search engines like goo, case sensitive, so copy,, and at this moment I, It is a non-nego, don't waste my perso, thi s mes, back while visiting, showe ring, what should you do ?, porno webpage, this embarrassing situation, navigated to the page, bare-assed, on well-known websites and publications, I got an order from someone to kill you and your family, immediately kill your family, is an explosive device, My mercenary is, explosive device detonates, triggered your webcam, piquant websites, my exploit downloaded, replenish btc wallet, instantaneously erase, actual recorded material, neglect this email, my RAT trojan, video you jerked, I used keylogger, your disk dump, malware intercepts, installed a malware, remove your video footage, RAT onto your computer, greasy stimulating actions, excentric preferrables, porn web-page, to your Tax Department, network will be DDoS, friends, WannaCry, building a protection policy, in Tax Departament, Yours service going, we pass CloudFlare, hear fake-experts, backuped phone, -1663, of your joys, digits your phone, (porno), BIG pervert, both files and scale, naughty video clips, Soy un hacker, I installed spyware, n website with teen, malware on the porn website, very own recorded material, ιs yοur ραssρhrαse, after seeing the video of you jerking off, τhιηκ οf ιτ αs α dοηατιοη, split-screen video, 𝐄𝐧𝐭𝐢𝐫𝐞 𝐯𝐢𝐝𝐞𝐨 𝐜𝐥𝐢𝐩 𝐮𝐧𝐝𝐞𝐫𝐭𝐚𝐤𝐢𝐧𝐠 𝐫𝐚𝐮𝐧𝐜𝐡𝐲 𝐦𝐚𝐭𝐭𝐞𝐫𝐬, 𝐚𝐜𝐭𝐮𝐚𝐥𝐥𝐲 𝐞𝐧𝐭𝐞𝐫𝐞𝐝 𝐭𝐡𝐚𝐭 𝐩𝐨𝐫𝐧𝐨 𝐢𝐧𝐭𝐞𝐫𝐧𝐞𝐭 𝐬𝐢𝐭𝐞, 𝐇𝐨𝐰 𝐰𝐢𝐥𝐥 𝐲𝐨𝐮 𝐩𝐮𝐭 𝐭𝐨𝐠𝐞𝐭𝐡𝐞𝐫 𝐭𝐡𝐞 𝐩𝐚𝐲𝐦𝐞𝐧𝐭"
d down, k up, everybody's a game theorist, titcoin, build wiki on Cardano, (e-)voting, competitive marketing analysis, Goguen product update, Alexa likes Charles, David hates all, Adam in and bros in arms with the scientific counterparts of the major cryptocurrency groups, the latest AMA for all!
Decreasing d parameter Just signed the latest change management document, I was the last in the chain so I signed it today for changing the d parameter from 0.52 to 0.5. That means we are just about to cross the threshold here in a little bit for d to fall below 0.5 which means more than half of all the blocks will be made by the community and not the OBFT nodes. That's a major milestone and at this current rate of velocity it looks like d will decrement to zero around March so lots to do, lots to talk about. Product update, two days from now, we'll go ahead and talk about that but it crossed my desk today and I was really happy and excited about that and it seemed like yesterday that d was equal to one and people were complaining that we delayed it by an epoch and now we're almost at 50 percent. For those of you who want parameter-level changes, k-level changes, they are coming and there's an enormous internal conversation about it and we've written up a powerpoint presentation and a philosophy document about why things were designed the way that they're designed. Increasing k parameter and upcoming security video and everybody's a game theorist My chief scientist has put an enormous amount of time into this. Aggelos is very passionate about this particular topic and what I'm going to do is similar to the security video that I did where I did an hour and a half discussion about a best practice for security. I'm going to actually do a screencasted video where I talk about this philosophy document and I'm going to read the entire document with annotations with you guys and kind of talk through it. It might end up being quite a long video. It could be several hours long but I think it's really important to talk around the design philosophy of this. It's kind of funny, everybody, when they see a cryptographic paper or math paper, they tend to just say okay you guys figure that out. No one's an expert in cryptography or math and you don't really get strong opinions about it but game theory despite the fact that the topics as complex and in some cases more complex you tend to get a lot of opinions and everybody's a game theorist. So, there was enormous amount of thought that went into the design of the system, the parameters of system, everything from the reward functions to other things and it's very important that we explain that thought process in as detailed of a way as possible. At least the philosophy behind it then I feel that the community is in a really good position to start working on the change management. It is my position that I'd love to see k largely increased. I do think that the software needs some improvements to get there especially partial delegation delegation portfolios and some enhancements into the operation of staking especially. E-voting I'd love to see the existence of hybrid wallets where you have a cold part a hot part and we've had a lot of conversations about that and we will present some of the progress in that matter at the product updates. If not this October certainly in November. A lot of commercialization going along, a lot of things going on and flowing around and you know, commercial teams working hard. As I mentioned we have a lot of deals in the pipeline. The Wyoming event was half political, half sales. We were really looking into e-voting and we had very productive conversations along those lines. It is my goal that Cardano e-voting software is used in political primaries and my hope is for eventually to be used in municipal and state and eventually federal elections and then in national elections for countries like Ethiopia, Mongolia and other places. Now there is a long road, long, long road to get there and many little victories that have to begin but this event. Wyoming was kind of the opener into that conversation there were seven independent parties at the independent national convention and we had a chance to talk to the leadership of many of them. We will also engage in conversation with the libertarian party leadership as well and at the very least we could talk about e-voting and also blockchain-based voting for primaries that would be great start and we'll also look into the state of Wyoming for that as well. We'll you know, tell you guys about that in time. We've already gotten a lot of inquiries about e-voting software. We tend to get them along with the (Atala) Prism inquiries. It's actually quite easy to start conversations but there are a lot of security properties that are very important like end-to-end verifiability hybrid ballots where you have both a digital and a paper ballot delegation mechanics as well as privacy mechanics that are interesting on a case-by-case basis. Goguen, voting, future fund3, competitive marketing analysis of Ouroboros vs. EOS, Tezos, Algorand, ETH2 and Polkadot, new creative director We'll keep chipping away at that, a lot of Goguen stuff to talk about but I'm going to reserve all of that for two days from now for the product update. We're right in the middle, Goguen metadata was the very first part of it. We already have some commercialization platform as a result of metadata, more to come and then obviously lots of smart contract stuff to come. This update and the November update are going to be very Goguen focused and also a lot of alternatives as well. We're still on schedule for an HFC event in I think November or December. I can't remember but that's going to be carrying a lot of things related multisig token locking. There's some ledger rule changes so it has to be an HFC event and that opens up a lot of the windows for Goguen foundations as well as voting on chain so fund3 will benefit very heavily from that. We're right in the guts of Daedalus right now building the voting center, the identity center, QR-code work. All this stuff, it's a lot of stuff, you know, the cell phone app was released last week. Kind of an early beta, it'll go through a lot of rapid iterations every few weeks. We'll update it, google play is a great foundation to launch things on because it's so easy to push updates to people automatically so you can rapidly iterate and be very agile in that framework and you know we've already had 3500 people involved heavily in the innovation management platform ideascale and we've got numerous bids from everything. From John Buck and the sociocracy movement to others. A lot of people want to help us improve that and we're going to see steady and systematic growth there. We're still chipping away at product marketing. Liza (Horowitz) is doing a good job, meet with her two three-times a week and right now it's Ouroboros, Ouroboros, Ouroboros... We're doing competitive analysis of Ouroboros versus EOS, Tezos, Algorand, ETH2 and Polkadot. We think that's a good set. We think we have a really good way of explaining it. David (David Likes Crypto now at IOHK) has already made some great content. We're going to release that soon alongside some other content and we'll keep chipping away at that. We also just hired a creative director for IO Global. His name's Adam, incredibly experienced creative director, he's worked for Mercedes-Benz and dozens of other companies. He does very good work and he's been doing this for well over 20 years and so the very first set of things he's going to do is work with commercial and marketing on product marketing. In addition to building great content where hope is make that content as pretty as possible and we have Rod heavily involved in that as well to talk about distribution channels and see if we can amplify the distribution message and really get a lot of stuff done. Last thing to mention, oh yeah, iOS for catalyst. We're working on that, we submitted it to the apple store, the iOS store, but it takes a little longer to get approval for that than it does with google play but that's been submitted and it's whenever apple approves it or not. Takes a little longer for cryptocurrency stuff. Wiki shizzle and battle for crypto, make crypto articles on wiki great again, Alexa knows Charles, Everpedia meets Charles podcast, holy-grail land of Cardano, wiki on Cardano, titcoin Wikipedia... kind of rattled the cage a little bit. Through an intermediary we got contact with Jimmy Wales. Larry Sanger, the other co-founder also reached out to me and the everpedia guys reached out to me. Here's where we stand, we have an article, it has solidified, it's currently labeled as unreliable and you should not believe the things that are said in it which is David Gerard's work if you look at the edits. We will work with the community and try to get that article to a fair and balanced representation of Cardano and especially after the product marketing comes through. We clearly explain the product I think the Cardano article can be massively strengthened. I've told Rod to work with some specialized people to try to get that done but we are going to work very hard at a systematic approval campaign for all of the scientific articles related to blockchain technology in the cryptocurrency space. They're just terrible, if you go to the proof of work article, the proof of stake or all these things, they're just terrible. They're not well written, they're out of date and they don't reflect an adequate sampling of the science. I did talk to my chief scientist Aggelos and what we're gonna do is reach out to the scientific counterparts that most of the major cryptocurrency groups that are doing research and see if they want to work with us at an industry-wide effort to systematically improve the scientific articles in our industry so that there are a fair and balanced representation of what the current state of the art are, the criticisms, the trade-offs as well as the reference space and of course obviously we'll do quite well in that respect because we've done the science. We're the inheritor of it but it's a shame because when people search proof of stake on google usually wikipedia results are highly biased. We care about wikipedia because google cares about wikipedia, amazon cares about wikipedia. If you ask Alexa who is Charles Hoskinson, the reason why Alexa knows is because it's reading directly from the wikipedia page. If I didn't have a wikipedia page Alexa would know that so if somebody says Alexa what is Cardano it's going to read directly from the wikipedia page and you know and we can either just pretend that reality doesn't exist or we can accept it and we as a community working with partners in the broader cryptocurrency community can universally improve the quality of cryptocurrency pages. There's been a pattern of commercial censorship on wikipedia for cryptocurrencies in general since bitcoin itself. In fact I think the bitcoin article is actually taken down once back in, might have been, 2010 or 2009 but basically wikipedia has not been a friend of cryptocurrencies. That's why everpedia exists and actually their founders reached out to me and I talked to them over twitter through PMs and we agreed to actually do a podcast. I'm going to do a streamyard, stream with these guys and they'll come on talk all about everpedia and what they do and how they are and we'll kind of go through the challenges that they've encountered. How their platform works and so forth and obviously if they want to ever leave that terrible ecosystem EOS and come to the holy-grail land of Cardano we'd be there to help them out. At least they can tell the world how amazing their product is and also the challenges they're having to overcome. We've also been in great contact with Larry Sanger. He's going to do an internal seminar at some point with with us and talk about some protocols he's been developing since he left wikipedia specifically to decentralize knowledge management and have a truly decentralized encyclopedia. I'm really looking forward to that and I hope that presentation gives us some inspiration as an ecosystem of things we can do. That's a great piece of infrastructure regardless and after we learn a lot more about it and we talk to a lot of people in ecosystem. If we can't get people to move on over, it would be really good to see through ideascale in the innovation management platform for people to utilize the dc fund to build their own variant of wikipedia on Cardano. In the coming months there will certainly be funding available. If you guys are so passionate about this particular problem that you want to go solve it then I'd be happy to play Elon Musk with the hyperloop and write a white paper on a protocol design and really give a good first start and then you guys can go and try to commercialize that technology as Cardano native assets and Plutus smart contracts in addition to other pieces of technology that have to be brought in to make it practical. Right now we're just, let's talk to everybody phase, and we'll talk to the everpedia guys, we're going to talk to Larry and we're going to see whoever else is in this game and of course we have to accept the incumbency as it is. So, we're working with obviously the wikipedia side to improve the quality of not only our article but all of the articles and the scientific side of things so that there's a fair and accurate representation of information. One of the reasons why I'm so concerned about this is that I am very worried that Cardano projects will get commercially censored like we were commercially censored. So, yes we do have a page but it took five years to get there and we're a multi-billion dollar project with hundreds of thousands of people. If you guys are doing cutting-edge novel interesting stuff I don't want your experience to be the same as ours where you have to wait five years for your project to get a page even after government's adopted. That's absurd, no one should be censored ever. This is very well a fight for the entire ecosystem, the entire community, not just Cardano but all cryptocurrencies: bitcoin, ethereum and Cardano have all faced commercial censorship and article deletions during their tenure so I don't want you guys to go through that. I'm hoping we can prove that situation but you know you don't put all your eggs in one basket and frankly the time has come for wikipedia to be fully decentralized and liberated from a centralized organization and massively variable quality in the editor base. If legends of valor has a page but Cardano didn't have one until recently titcoin, a pornography coin from 2015, that's deprecated, no one uses it, has a page but Cardano couldn't get one there's something seriously wrong with the quality control mechanism and we need to improve that so it'll get done.
I had written out this elaborate post, but then Chrome told me it had ran out of memory and crashed. Insert salty post below: https://www.blockchain.com/btc/tx/f6e95b3601c9a6432ddefc583260e3b3be3985cf37285ed628828ab967c7a21b The above link is someone, somehow getting into the "wallet" I had on Blockchain, and taking the coin for themselves. I had it sat there for 3 years, so it's my own fault for leaving it there. It's not the money, I bought it for around $250 in 2017, and it would be worth around $750 so in reality, it's peanuts. I have no idea how they got the login, how they managed to bypass the "not your normal device" email. No I didn't have 2FA (that will teach me) and no I never moved it to a cold/hard wallet (again, that will teach me). It just really angers me that people think it's okay to do these things. Who knows what I might have used it for. I have a very young daughter. Perhaps I would have bought her something nice, but no, not anymore. Bastards! I've always been an avid support of Bitcoin, but honestly, I really can't be bothered now. So, the bottom line is this:
To whoever transferred the coin out of the wallet: I hope you choke on that pizza, get run over or get gutted one day because karma will come for you.
DO NOT keep any Bitcoin on any exchange, whatsoever, no matter how little because you'll think, it'll never happen to me. It can, and it will. Hell before you even purchase any, get a proper actual wallet. Don't be stupid like me.
Don't use Blockchain, they are useless and are of no help to anyone, except themselves.
Protect yourselves at all times, even more so than when you're about to get down and dirty with someone.
I just met with an old friend, i remember she told me she invested 3 million Colombian peso in April, 2017 in Bitcoin. That was +/- $1,060 USD that time or +/- $9,400 today. When i told her how much it was worth today she was excited because today that's 36 million peso where i live. And she has a debt to pay to the bank on a loan for an apartment, especially now during the crisis that would put her out of debt instantly. So obviously i asked her if she still had the "seed" or wallet in a secure place, she didn't understand what i was asking. A bit deeper into the conversation she told me her son knew a guy to invest bitcoin, he told her that there was a flat fee of 1 million peso to open up a wallet and the other 2 million would be invested. I told her she got scammed, because she did not have the private key of her wallet and when she asked to get money from her investment this person again lied to her and told her that whats left of today is only 250,000 Colombian pesos or $65 USD. There was no contract or anything written on paper, the only thing as evidence she had was a mail on how much money they agreed to invest. I'm thinking now of offering some free/paid advice now trough online marketplaces in my city and country, people need to know they can open a wallet for free and how to purchase Bitcoins themselves and how they can secure their investments with a hardware wallet and how to sell their Bitcoin. I see daily stories on Reddit/TwitteFacebook of people getting scammed, ive also been selling hardware wallets trough my online store in my country ( i'm not an authorized distributor but i've prevented some scams where other online sellers sold opened/tampered wallets )
Dragonchain Great Reddit Scaling Bake-Off Public Proposal
Dragonchain Public Proposal TL;DR:
Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and postsper Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625. Watch Joe walk through the entire proposal and answer questions onYouTube. This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!
I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale. For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube. We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoC
In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks. 24 hours in 4 minutes (YouTube): 24 hours in 4 minutes The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period. Tooling to reproduce our demo is available here: https://github.com/dragonchain/spirit-bomb
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired. Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity. TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block. TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain. With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times. We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment. Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in Scaling
Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems. We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
LBRY - To allow users to deploy content natively to LBRY
MakerDAO to allow users to lend small amounts backed by their Reddit community points.
STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction. Dragonchain Fees Table
How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node. Getting started is easy...
Download Dragonchain’s dctl
Input three commands into a terminal
Build an image
More information can be found in our Get started documents.
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain. Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain. After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks. Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD. For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments. Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users. Over a 5 day period, your scaling PoC should be able to handle: *100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes. Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum. Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
Operational on-premises capabilities
Operational deployment to any datacenter
Over 700 independent Community Verification Nodes with proof of ownership
Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node. Examples:
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users. All of Reddit's Transactions on Blockchain (month) Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees. Reddit Internal Token Transaction Fees Reddit Ethereum Token Transaction Fees When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
In a combination of the above, customers could cover aggregated fees.
Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.
Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here. Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here. In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here. A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible APIs should be well documented and stable
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected. Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR. Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus points Public, third-party implementation review available or in progress
Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).
Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open Source
The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group. https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html
In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney. Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
Obtain VP support and approval for the release
Verify ownership of the software to be released
Verify that no proprietary content would be released
Convince the organization that there was a value to the open source community
Convince the organization that there was a value to Disney
Offer the plan for ongoing maintenance of the project outside of Disney
Itemize competing projects
Verify no conflict of interest
Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
Obtain legal approval
Approval from corporate, parks, and other business units
Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
Trademark searches conducted for the selected name Dragonchain
Obtain IT security approval
Manual review of OSS components conducted
OWASP Dependency and Vulnerability Check Conducted
Obtain technical (software) approval
Offer management, process, and financial plans for the maintenance of the project.
Meet list of items to be addressed before release
Remove all Disney project references and scripts
Create a public distribution list for email communications
Remove Roets’ direct and internal contact information
Create public Slack channel and move from Disney slack channels
Create proper labels for issue tracking
Rename internal private Github repository
Add informative description to Github page
Expand README.md with more specific information
Add information beyond current “Blockchains are Magic”
Add getting started sections and info on cloning/forking the project
Add installation details
Add uninstall process
Add unit, functional, and integration test information
Detail how to contribute and get involved
Describe the git workflow that the project will use
Move to public, non-Disney git repository (Github or Bitbucket)
Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney. The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release. Original OSSRELASE-10 document
Nendly, the Notion-Friendly Forum is a social media site that offers a novel approach to Internet communities.
Social media today is a poor avenue for Internet conversations. Everyone can have their say, but only in their particular echochamber. While I've written more about it in an essay, go to cc and you'll see the main crux. The things you can talk about here won't fly so well there. Now why is that? It's because on Reddit, we have a downvote button. And since what you see is based on vote scores, it's essentially a censorship button. If you don't hold a 51% opinion, those in the majority will vote you down, and you'll leave to join another where the electorate is more favorable. And so we get a million insulated communities, each so sure that the others are wrong and needlessly hostile. But it doesn't have to be this way! Nendly uses a state-of-the-art voting algorithm that enables discussions wherein many competing ideas are possible. Instead of the upvote and downvote buttons being directly tied to what users see, Nendly performs viewpoint analysis to find the best content among a range of diverse beliefs. And since it uses game-theory, there's no possibility for an cc style take-over. You can read more about it here, but basically I've solved the cc problem, as seen in Nendly's much friendlier n/crypto community. Now there's a lot more to the site, including huge usability improvements and features Reddit doesn't have, but I'll have to leave it for a video I'll put out tomorrow. Ask me any questions and I'll address them then. (I need to sleep, it's been a wild day).
Ok but why is this a big deal for nano? The benefits are many.
Nano is exclusively integrated site-wide. Instead of Reddit "awards", we have nano-based gifts that mostly go to the end user. That's right, you can get paid to use social media. Forget Reddit's ETH integration, we've beet 'em to it, guys!
When someone awards your post or comment with nano, you get a helpful message from the system user, who gives you information about nano, the foundation, wallets, etc. so you can adopt it yourself.
The user base will be primarily non-crypto people, since I've intentionally built the site for a general-purpose audience. And since nano is the only crypto fully-integrated, we'll be actively getting people to join Nano. They won't just see it on a list with 50 other coins and bitcoin at the top. We are talking REAL ADOPTION.
With scale comes power. Imagine if we had complete control over the code for this subreddit. If someone had an idea requiring scale, we could actually fulfill it. We wouldn't have the "okay but where will you get your users" problem. If someone had an idea like ads that pay you nano to view them, we'd be able to break down that barrier. Well here's the thing, we've got Nendly, and with it we can solve the scale problem once and for all. Not just with n/crypto, but with the entire site if we like. As Nendly grows, so too does our launchpad.
There's more too for nano I'll put in the video. Again, ask me questions and I'll answer them when I'm not so tired :)
There's a lot of features that I'll be releasing over the coming days and weeks that are close to being done. For now, so I could meet the August deadline I set for myself, it's a Desktop-only experience with mobile coming very soon (we've also got a public API that's mostly done, PM me if you want to build an App or something). So hey, try my site out! You'll find updates coming out very fast since most of the cool stuff is ~90% done. I plan on a major update happening once a week, so it'll be a quick-moving experience if you join our community. Please bare with me since it's just now public. There's bound to be funny bugs we'll run into, and I already know some email providers are dropping my mail since they've never heard of nendly.com. And who knows, maybe the servers will explode. Also, I want to say thanks for all the support these past 2 months. I really wanted to give you something you could use before August ended, and thankfully we made it just hours before September! Edit ok, here’s the video!
How to sell xBricks for money (self post for mod approval)
Preface I've written this guide with those that are unfamiliar with crypto in mind, however it's still a lengthy process. I'm going to try to present this in a way where you don't have to learn how the underlying crypto technology works, but I will add in links to relevant concepts in case you're curious. This process was a lot more complicated before but I made a web interface to simplify it. At the time of writing this, FortniteBR BRICKs are worth 10 cents a piece. That makes 1000 bricks worth 100 bucks. The liquidity pool is about $14,000 at the time of writing, meaning that there's room in the market for you to hypothetically get $7,000 if you had a lot of BRICKs. If at any point throughout this process you need help, DM me! Misc. Resources That Might Be Helpful
A phone or phone emulator (so that you can run the reddit mobile app and collect your BRICKs)
Step 1: Setup On your desktop computer, install MetaMask. This is an Ethereum Wallet which will allow you to interact with the Ethereum Network and its many sidechains. More on this later. Follow the setup instructions in MetaMask. If you've never done this before, you'll need to create a new seed phrase. Video tutorial if you get stuck. YOUR SEED PHRASE IS THE KEY TO YOUR WALLET. ANYONE WHO HAS ACCESS TO YOUR SEED PHRASE CAN TAKE YOUR FUNDS. IF YOU LOSE YOUR SEED PHRASE YOU HAVE NO WAY TO RECOVER YOUR FUNDS. WRITE IT DOWN AND STORE IT IN A SAFE PLACE!!! NEVER GIVE IT OUT TO ANYONE -ANYONETHAT ASKS FOR YOUR SEED PHRASE IS TRYING TO SCAM YOU! DON'T FALL FOR IT! In the MetaMask interface, you'll see "Main Ethereum Network". This process uses two networks. One of them is the Rinkeby Testnet (where the BRICK tokens are natively) and one of them is the xDAI network which is where we will bridge the tokens to in order to exchange them for Dai, a token which is pegged to the price of the dollar. From the dropdown, select Rinkeby Testnet. If you're in the assets tab, you should see a thing that shows your ETH balance. Below this, you should see an "add token" button. Click it. Go to "Custom Token" at the top. In "token contract address," paste in the following: 0xe0d8d7b8273de14e628d2f2a4a10f719f898450a The other fields will autofill. Hit next. You'll now see your BRICK balance (which will be 0, you haven't transferred your bricks yet) in MetaMask if you've done everything right. You'll need Rinkeby Ether to cover transaction fees. Since we're on a testnet, the Ether is worthless which means people hand it out for free. You can get this Ether from a variety of places:
Anyone who has Rinkeby Ether to spare: Make a comment below so that those who need it can ask you. Thanks :)
Now it's time to get your BRICKs from your Reddit vault into your MetaMask wallet. WARNING: ALL CRYPTO TRANSACTIONS ARE IRREVERSIBLE. Your Ethereum address shows up under Rinkeby. It should be "0x" followed by a bunch of hex characters. Click on it to copy it to your clipboard. You now need to somehow get this to your mobile device. Email it to yourself, text it to yourself, whatever. On your Reddit mobile app home screen, click on your profile icon and then go to vault. You'll need to set this up and claim your tokens if you haven't already. Be aware that this is also technically an Ethereum wallet. Keep your seed phrase safe. Send however many BRICKs you want to sell to your MetaMask wallet. Check to make sure the addresses are the same, but don't worry too much about making a typo or whatever. The chances that you'd make a typo that would result in a valid Ethereum address are slim, if you get a character wrong it'll just tell you it's not a real Ethereum address and prevent you from sending. It may show an error when you try to send. This is somewhat rare but pretty normal. They often run out of testnet Ether. Come back later and try again. If it works properly, it'll take about a minute to go through. It may take longer than that. Once the transaction goes through, you'll see that you have an absurd amount of BRICKs in MetaMask. No, there wasn't a glitch. The people who wrote the code for BRICKs made the decimals of precision weird for some reason. It's off by a factor of 1018. This isn't a big deal. If you see Bricks and Ether (ETH) in your MetaMask wallet, proceed to the next step. If you're having issues, feel free to DM me. Step 2: Getting Your BRICKs from Rinkeby to xDai There's a LOT going on under the hood for this part (deets for those interested). Previously this required manually generating contract interactions, which is kind of a pain if you're new to Ethereum. I made a UI to make this easier (it generates the transactions for you, all you have to do is sign them with your wallet). This took way longer to do than you might guess, so feel free to help a homie out at: 0x4BCcC2569DD93C7dF43431A7b70db569dedB6187 Go to my tool. Hit connect. If you're on the Rinkeby network, it should show your balance in BRICKs. Enter the amount you want to bridge (probably all of them). If neither of us have made any mistakes, it should pop up with a request to spend your BRICKs. If there's any issue with this tool, DM me. This allows the TokenBridge contract to take your BRICKs and put them on the xDai network where you can sell them. This is the part where you'll get an error if you don't have any testnet ETH. Set the gas price to 1 (the suggested price is based on the Main Ethereum Network - it's way too high). After you approve that, it'll give you another thing to accept. This is the actual transaction where it'll bridge to xDai. Again, make sure the gas price is set to 1 and confirm the transaction. Add xDai to MetaMask Switch to the xDai network. We're going to add another token. Again, go to "add token" > "custom token" > "token contract address". Paste in: 0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191 If the transactions have gone through, you should see your xBricks (the name for BRICKs that have been bridged to xDai) in MetaMask. If not, wait a bit for the transactions to go through. Sometimes there are slowdowns that cause bridging to take a while. Shouldn't take too long, though. Once that's done, you're ready for the next step. Step 3: Trading Your xBricks for xDai Go to Honeyswap. Hit "select a token." You'll need to paste in the xBrick address again. Here it is: 0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191 Click xBrick. You'll need to flipflop the trade around by hitting the arrow button. xBrick should be on top. Type in the amount of xBricks you want to sell, or hit max to sell all of them. 1 xDai = $1. You'll need to hit approve first. Set gas price to 1 again. Then you can complete the trade by hitting swap. After a bit, the xDai should show up in your wallet. Step 4: Mainnet Everything on Mainnet costs actual money to do. It costs about 50 cents to make a transaction and it costs about 3 bucks to use an exchange like the one we just used. If you don't have mainnet Ether, you won't be able to do anything with your mainnet Dai (what xDai is called when it's bridged back to the main Ethereum network). You may be able to find someone to lend you some ETH to make these transactions with. Whatever you do, just be aware. If you still want to bridge your xDai into Dai, go here and make sure xDai is on the left. If it's not, go in the top right and select xDai chain. Enter the amount of xDai you want to bridge to mainnet and then hit transfer. Follow the prompts. This part may take up to an hour due to recent network congestion. After it's done, if you go back to Main Ethereum Network in MetaMask you should see your Dai. If you have a few bucks of ETH, you can use UniSwap to convert your Dai to even more ETH. Uniswap tutorial Things you can do with ETH
Some newbie questions about Trezor device and bitcoin wallets
Greetings I have never owned bitcoin before, but I studied how it works, so I think I have some understanding. I also studied options and it seems hardware wallet is the way to go for safety reasons. So, question number One, am I correct that: Unlike a bank account, where you keep one account usually, with bitcoin you keep generating new addresses, so if you own 1 bitcoin, you don't store it on one address, rather, you own many addresses, each containing part of your bitcoin, and when you spend, you just expend some of the addresses and throw them away, and when you receive, you generate new addresses for every transaction, so you accumulate these addresses that each are like a banknote of sorts, each having their own nominal value, and then you spend those banknotes and never use those addresses again. Right? Question number Two, am I correct that: All the addresses are generated from a certain big number, "master key" of sorts, which is private to me, which can be written in a form of "seed" which is what the device will give me when initialized, which is what I can use to recover my master key if I lose or break the device? Question number Three, who does the address generation for bitcoin wallets for new incoming transactions? I assume it's the online wallet Trezor uses, right? So the device does not store any addresses of bitcoin wallets, right? It only stores my master key? Assuming all are correct, can you please explain, in simpliest terms, how do I restore these addresses themselves, should Trezor online wallet be unavailable? I mean, it's hardly a possibility, but assume I have my seed, or even my Trezor device, but Trezor online wallet is unavailable. Assume I made hundreds of bitcoin transactions and my bitcoin is stored in hundreds of small pieces on different addresses. How do I recover all those? How do I know when to stop, when I have recovered them all? Assuming I don't know the amount I totally own by heart, so I cannot know when to stop (When I found all my bitcoin)? I mean, it's unlimited, right, the amount of bitcoin addresses that can be generated from my "master key" of my Trezor? So how do I know which of them contain bitcoin? Like, say I have used 200 of them and 100 of them still contain bitcoins, and I lose the device, and have to restore from seed, how does it know that it has to generate only those 200, like, how does it know it doesnt have to generate more addresses, maybe those other addresses contain some bitcoin on them too? Or does it, generate them always in the same order, so if it sees only blank unused addresses, it assumes it's time to stop? Like, if address 0-200 are all used but 200-300 are all unused still, it assumes it's fine to stop checking? Also, on an unrelated note, how can I be sure I made no mistake in recording the seed? Can I just wipe the device and restore it from seed right after initializing it and receiving a small bitcoin transaction, to test it and be sure that I can recover my bitcoin in case I lose it? Is the device unlimited in terms of how many times it can be wiped and restored? Thanks in advance!
At this point we are out of ideas, so I decided to come to the smartest bunch of people the world has to offer... Redditors. The problem is that I recently just became aware and realized that one of the Minecraft servers that I was obsessed with back in about 6th grade (around 2010 I believe) used Bitcoin as a way to make purchases on the server. This was my favorite server, so for my birthday, my mom gave me $200 dollars to spend however I wanted, and I spent it all on bitcoin so I could get armor, costumes, and stuff like that in the game. A few weeks went by, and just like every other 6th grader on the planet, my interests and hobbies would change quite rapidly, and I stopped playing Minecraft. I believe that I spent about $50 worth of bitcoin and the rest is sitting in a virtual wallet waiting for me to access it. Now me and my brother have researched everything we could about this in the last few weeks, but as of now, we are not pros and simply know the basics of what we can possibly do. I know I need a 6 digit code to access my wallet, and I specifically remember having the number written on a paper stuck in my room, but I have no clue what that number is and have moved several times since then so there is zero chance of finding that paper. There is a lot of money on the line and if any of you guys have information that could help me get access to my digital wallet I will probably tattoo your reddit name on my body I’d be so happy. Any help you guys could give me I would love but I understand that things like this are highly complex. I appreciate any suggestions or anyone that takes time to help me out.
Taproot! Everybody wants to have it, somebody wants to make it, nobody knows how to get it! (If you are asking why everybody wants it, see: Technical: Taproot: Why Activate?) (Pedants: I mostly elide over lockin times) Briefly, Taproot is that neat new thing that gets us:
Multisignatures (n-of-n, k-of-n) that are just 1 signature (1-of-1) in length!! (MuSig/Schnorr)
Better privacy!! If all contract participants can agree, just use a multisignature. If there is a dispute, show the contract publicly and have the Bitcoin network resolve it (Taproot/MAST).
Activation lets devs work get back to work on the even newer stuff like!!!
Cross-input signature aggregation!! (transaction with multiple inputs can have a single signature for all inputs) --- needs Schnorr, but some more work needed to ensure that the interactions with SCRIPT are okay.
Block validation - Schnorr signatures for all taproot spends in a block can be validated in a single operation instead of for each transaction!! Speed up validation and maybe we can actually afford to increase block sizes (maybe)!!
SIGHASH_ANYPREVOUT - you know, for Decker-Russell-Osuntokun ("eltoo") magic!!!
OP_CHECKTEMPLATEVERIFY - vaulty vaults without requiring storing signatures, just transaction details!!
So yes, let's activate taproot!
The SegWit Wars
The biggest problem with activating Taproot is PTSD from the previous softfork, SegWit. Pieter Wuille, one of the authors of the current Taproot proposal, has consistently held the position that he will not discuss activation, and will accept whatever activation process is imposed on Taproot. Other developers have expressed similar opinions. So what happened with SegWit activation that was so traumatic? SegWit used the BIP9 activation method. Let's dive into BIP9!
bit - A field in the block header, the nVersion, has a number of bits. By setting a particular bit, the miner making the block indicates that it has upgraded its software to support a particular soft fork. The bit parameter for a BIP9 activation is which bit in this nVersion is used to indicate that the miner has upgraded software for a particular soft fork.
timeout - a time limit, expressed as an end date. If this timeout is reached without sufficient number of miners signaling that they upgraded, then the activation fails and Bitcoin Core goes back to the drawing board.
Now there are other parameters (name, starttime) but they are not anywhere near as important as the above two. A number that is not a parameter, is 95%. Basically, activation of a BIP9 softfork is considered as actually succeeding if at least 95% of blocks in the last 2 weeks had the specified bit in the nVersion set. If less than 95% had this bit set before the timeout, then the upgrade fails and never goes into the network. This is not a parameter: it is a constant defined by BIP9, and developers using BIP9 activation cannot change this. So, first some simple questions and their answers:
Why not just set a day when everyone starts imposing the new rules of the softfork?
This was done classically (in the days when Satoshi was still among us). But this might argued to put too much power to developers, since there would be no way to reject an upgrade without possible bad consequences. For example, developers might package an upgrade that the users do not want, together with vital security bugfixes. Either you live without vital security bugfixes and hire some other developers to fix it for you (which can be difficult, presumably the best developers are already the ones working on the codebase) or you get the vital security bugfixes and implicitly support the upgrade you might not want.
Sure, you could fork the code yourself (the ultimate threat in the FOSS world) and hire another set of developers who aren't assholes to do the dreary maintenance work of fixing security bugs, but Bitcoin needs strong bug-for-bug compatibility so everyone should really congregate around a single codebase.
Basically: even the devs do not want this power, because they fear being coerced into putting "upgrades" that are detrimental to users. Satoshi got a pass because nobody knew who he was and how to coerce him.
Suppose the threshold were lower, like 51%. If so, after activation, somebody can disrupt the Bitcoin network by creating a transaction that is valid under the pre-softfork rules, but are invalid under the post-softfork rules. Upgraded nodes would reject it, but 49% of miners would accept it and include it in a block (which makes the block invalid) And then the same 49% would accept the invalid block and build on top of that, possibly creating a short chain of doomed invalid blocks that confirm an invalid spend. This can confuse SPV wallets, who might see multiple confirmations of a transaction and accept the funds, but later find that in fact it is invalid under the now-activated softfork rules.
Thus, a very high threshold was imposed. 95% is considered safe. 50% is definitely not safe. Due to variance in the mining process, 80% could also be potentially unsafe (i.e. 80% of blocks signaling might have a good chance of coming from only 60% of miners), so a threshold of 95% was considered "safe enough for Bitcoin work".
Why have a timeout that disables the upgrade?
Before BIP9, what was used was either flag day or BIP34. BIP34 had no flag day of activation or a bit, instead, it was just a 95% threshold to signal an nVersion value greater than a specific value. Actually, it was two thresholds: at 75%, blocks with the new nVersion would have the new softfork rules imposed, but at 95% blocks with the old nVersion would be rejected (and only the new blocks, with the new softfork rules, were accepted). For one, between 75% and 95%, there was a situation where the softfork was only "partially imposed", only blocks signaling the new rules would actually have those rules, but blocks with the old rules were still valid. This was fine for BIP34, which only added rules for miners with negligible use for non-miners.
The reasons miners signalled support was because they felt they were being pressured to signal support. So they signalled support, with plans to actually upgrade later, but because of the widespread signalling, the new BIP66 version locked in before upgrade plans were finished. Thus, the timeout that disables the upgrade was added in BIP9 to allow miners an escape hatch.
The Great Battles of the SegWit Wars
SegWit not only fixed transaction malleability, it also created a practical softforkable blocksize increase that also rebalanced weights so that the cost of spending a UTXO is about the same as the cost of creating UTXOs (and spending UTXOs is "better" since it limits the size of the UTXO set that every fullnode has to maintain). So SegWit was written, the activation was decided to be BIP9, and then.... miner signalling stalled at below 75%. Thus were the Great SegWit Wars started.
BIP9 Feature Hostage
If you are a miner with at least 5% global hashpower, you can hold a BIP9-activated softfork hostage. You might even secretly want the softfork to actually push through. But you might want to extract concession from the users and the developers. Like removing the halvening. Or raising or even removing the block size caps (which helps larger miners more than smaller miners, making it easier to become a bigger fish that eats all the smaller fishes). Or whatever. With BIP9, you can hold the softfork hostage. You just hold out and refuse to signal. You tell everyone you will signal, if and only if certain concessions are given to you. This ability by miners to hold a feature hostage was enabled because of the miner-exit allowed by the timeout on BIP9. Prior to that, miners were considered little more than expendable security guards, paid for the risk they take to secure the network, but not special in the grand scheme of Bitcoin.
ASICBoost was a novel way of optimizing SHA256 mining, by taking advantage of the structure of the 80-byte header that is hashed in order to perform proof-of-work. The details of ASICBoost are out-of-scope here but you can read about it elsewhere Here is a short summary of the two types of ASICBoost, relevant to the activation discussion.
Overt ASICBoost - Manipulates the unused bits in nVersion to reduce power consumption in mining.
Covert ASICBoost - Manipulates the order of transactions in the block to reduce power consumption in mining.
Now, "overt" means "obvious", while "covert" means hidden. Overt ASICBoost is obvious because nVersion bits that are not currently in use for BIP9 activations are usually 0 by default, so setting those bits to 1 makes it obvious that you are doing something weird (namely, Overt ASICBoost). Covert ASICBoost is non-obvious because the order of transactions in a block are up to the miner anyway, so the miner rearranging the transactions in order to get lower power consumption is not going to be detected. Unfortunately, while Overt ASICBoost was compatible with SegWit, Covert ASICBoost was not. This is because, pre-SegWit, only the block header Merkle tree committed to the transaction ordering. However, with SegWit, another Merkle tree exists, which commits to transaction ordering as well. Covert ASICBoost would require more computation to manipulate two Merkle trees, obviating the power benefits of Covert ASICBoost anyway. Now, miners want to use ASICBoost (indeed, about 60->70% of current miners probably use the Overt ASICBoost nowadays; if you have a Bitcoin fullnode running you will see the logs with lots of "60 of last 100 blocks had unexpected versions" which is exactly what you would see with the nVersion manipulation that Overt ASICBoost does). But remember: ASICBoost was, at around the time, a novel improvement. Not all miners had ASICBoost hardware. Those who did, did not want it known that they had ASICBoost hardware, and wanted to do Covert ASICBoost! But Covert ASICBoost is incompatible with SegWit, because SegWit actually has two Merkle trees of transaction data, and Covert ASICBoost works by fudging around with transaction ordering in a block, and recomputing two Merkle Trees is more expensive than recomputing just one (and loses the ASICBoost advantage). Of course, those miners that wanted Covert ASICBoost did not want to openly admit that they had ASICBoost hardware, they wanted to keep their advantage secret because miners are strongly competitive in a very tight market. And doing ASICBoost Covertly was just the ticket, but they could not work post-SegWit. Fortunately, due to the BIP9 activation process, they could hold SegWit hostage while covertly taking advantage of Covert ASICBoost!
UASF: BIP148 and BIP8
When the incompatibility between Covert ASICBoost and SegWit was realized, still, activation of SegWit stalled, and miners were still not openly claiming that ASICBoost was related to non-activation of SegWit. Eventually, a new proposal was created: BIP148. With this rule, 3 months before the end of the SegWit timeout, nodes would reject blocks that did not signal SegWit. Thus, 3 months before SegWit timeout, BIP148 would force activation of SegWit. This proposal was not accepted by Bitcoin Core, due to the shortening of the timeout (it effectively times out 3 months before the initial SegWit timeout). Instead, a fork of Bitcoin Core was created which added the patch to comply with BIP148. This was claimed as a User Activated Soft Fork, UASF, since users could freely download the alternate fork rather than sticking with the developers of Bitcoin Core. Now, BIP148 effectively is just a BIP9 activation, except at its (earlier) timeout, the new rules would be activated anyway (instead of the BIP9-mandated behavior that the upgrade is cancelled at the end of the timeout). BIP148 was actually inspired by the BIP8 proposal (the link here is a historical version; BIP8 has been updated recently, precisely in preparation for Taproot activation). BIP8 is basically BIP9, but at the end of timeout, the softfork is activated anyway rather than cancelled. This removed the ability of miners to hold the softfork hostage. At best, they can delay the activation, but not stop it entirely by holding out as in BIP9. Of course, this implies risk that not all miners have upgraded before activation, leading to possible losses for SPV users, as well as again re-pressuring miners to signal activation, possibly without the miners actually upgrading their software to properly impose the new softfork rules.
BIP91, SegWit2X, and The Aftermath
BIP148 inspired countermeasures, possibly from the Covert ASiCBoost miners, possibly from concerned users who wanted to offer concessions to miners. To this day, the common name for BIP148 - UASF - remains an emotionally-charged rallying cry for parts of the Bitcoin community. One of these was SegWit2X. This was brokered in a deal between some Bitcoin personalities at a conference in New York, and thus part of the so-called "New York Agreement" or NYA, another emotionally-charged acronym. The text of the NYA was basically:
Set up a new activation threshold at 80% signalled at bit 4 (vs bit 1 for SegWit).
When this 80% signalling was reached, miners would require that bit 1 for SegWit be signalled to achive the 95% activation needed for SegWit.
If the bit 4 signalling reached 80%, increase the block weight limit from the SegWit 4000000 to the SegWit2X 8000000, 6 months after bit 1 activation.
The first item above was coded in BIP91. Unfortunately, if you read the BIP91, independently of NYA, you might come to the conclusion that BIP91 was only about lowering the threshold to 80%. In particular, BIP91 never mentions anything about the second point above, it never mentions that bit 4 80% threshold would also signal for a later hardfork increase in weight limit. Because of this, even though there are claims that NYA (SegWit2X) reached 80% dominance, a close reading of BIP91 shows that the 80% dominance was only for SegWit activation, without necessarily a later 2x capacity hardfork (SegWit2X). This ambiguity of bit 4 (NYA says it includes a 2x capacity hardfork, BIP91 says it does not) has continued to be a thorn in blocksize debates later. Economically speaking, Bitcoin futures between SegWit and SegWit2X showed strong economic dominance in favor of SegWit (SegWit2X futures were traded at a fraction in value of SegWit futures: I personally made a tidy but small amount of money betting against SegWit2X in the futures market), so suggesting that NYA achieved 80% dominance even in mining is laughable, but the NYA text that ties bit 4 to SegWit2X still exists. Historically, BIP91 triggered which caused SegWit to activate before the BIP148 shorter timeout. BIP148 proponents continue to hold this day that it was the BIP148 shorter timeout and no-compromises-activate-on-August-1 that made miners flock to BIP91 as a face-saving tactic that actually removed the second clause of NYA. NYA supporters keep pointing to the bit 4 text in the NYA and the historical activation of BIP91 as a failed promise by Bitcoin developers.
We have discussed BIP8: roughly, it has bit and timeout, if 95% of miners signal bit it activates, at the end of timeout it activates. (EDIT: BIP8 has had recent updates: at the end of timeout it can now activate or fail. For the most part, in the below text "BIP8", means BIP8-and-activate-at-timeout, and "BIP9" means BIP8-and-fail-at-timeout) So let's take a look at Modern Softfork Activation!
Modern Softfork Activation
This is a more complex activation method, composed of BIP9 and BIP8 as supcomponents.
First have a 12-month BIP9 (fail at timeout).
If the above fails to activate, have a 6-month discussion period during which users and developers and miners discuss whether to continue to step 3.
Have a 24-month BIP8 (activate at timeout).
The total above is 42 months, if you are counting: 3.5 years worst-case activation. The logic here is that if there are no problems, BIP9 will work just fine anyway. And if there are problems, the 6-month period should weed it out. Finally, miners cannot hold the feature hostage since the 24-month BIP8 period will exist anyway.
PSA: Being Resilient to Upgrades
Software is very birttle. Anyone who has been using software for a long time has experienced something like this:
You hear a new version of your favorite software has a nice new feature.
Excited, you install the new version.
You find that the new version has subtle incompatibilities with your current workflow.
You are sad and downgrade to the older version.
You find out that the new version has changed your files in incompatible ways that the old version cannot work with anymore.
You tearfully reinstall the newer version and figure out how to get your lost productivity now that you have to adapt to a new workflow
If you are a technically-competent user, you might codify your workflow into a bunch of programs. And then you upgrade one of the external pieces of software you are using, and find that it has a subtle incompatibility with your current workflow which is based on a bunch of simple programs you wrote yourself. And if those simple programs are used as the basis of some important production system, you hve just screwed up because you upgraded software on an important production system. And well, one of the issues with new softfork activation is that if not enough people (users and miners) upgrade to the newest Bitcoin software, the security of the new softfork rules are at risk. Upgrading software of any kind is always a risk, and the more software you build on top of the software-being-upgraded, the greater you risk your tower of software collapsing while you change its foundations. So if you have some complex Bitcoin-manipulating system with Bitcoin somewhere at the foundations, consider running two Bitcoin nodes:
One is a "stable-version" Bitcoin node. Once it has synced, set it up to connect=x.x.x.x to the second node below (so that your ISP bandwidth is only spent on the second node). Use this node to run all your software: it's a stable version that you don't change for long periods of time. Enable txiindex, disable pruning, whatever your software needs.
The other is an "always-up-to-date" Bitcoin Node. Keep its stoarge down with pruning (initially sync it off the "stable-version" node). You can't use blocksonly if your "stable-version" node needs to send transactions, but otherwise this "always-up-to-date" Bitcoin node can be kept as a low-resource node, so you can run both nodes in the same machine.
When a new Bitcoin version comes up, you just upgrade the "always-up-to-date" Bitcoin node. This protects you if a future softfork activates, you will only receive valid Bitcoin blocks and transactions. Since this node has nothing running on top of it, it is just a special peer of the "stable-version" node, any software incompatibilities with your system software do not exist. Your "stable-version" Bitcoin node remains the same version until you are ready to actually upgrade this node and are prepared to rewrite most of the software you have running on top of it due to version compatibility problems. When upgrading the "always-up-to-date", you can bring it down safely and then start it later. Your "stable-version" wil keep running, disconnected from the network, but otherwise still available for whatever queries. You do need some system to stop the "always-up-to-date" node if for any reason the "stable-version" goes down (otherwisee if the "always-up-to-date" advances its pruning window past what your "stable-version" has, the "stable-version" cannot sync afterwards), but if you are technically competent enough that you need to do this, you are technically competent enough to write such a trivial monitor program (EDIT: gmax notes you can adjust the pruning window by RPC commands to help with this as well). This recommendation is from gmaxwell on IRC, by the way.
Disclaimer: This is my editing, so there could be always some misunderstandings and exaggerations, plus many convos are from 'spec channel', so take it with a grain of salt, pls. + I added some recent convos afterward. -------------------------------------------------- 📷 Luigi Vigneri [IF]어제 오후 8:26 Giving the opportunity to everybody to set up/run nodes is one of IOTA's priority. A minimum amount of resources is obviously required to prevent easy attacks, but we are making sure that being active part of the IOTA network can be possible without crazy investments. we are building our solution in such a way that the protocol is fair and lightweight. 📷 Hans Moog [IF]어제 오후 11:24 IOTA is not "free to use" but it's - fee-less you have tokens? you can send them around for free 📷 Hans Moog [IF]어제 오후 11:25 you have no tokens? you have to pay to use the network 📷 lekanovic어제 오후 11:25 I think it is a smart way to avoid the spamming network problem 📷 Hans Moog [IF]어제 오후 11:26 owning tokens is essentially like owning a share of the actual network and the throughput it can process 📷 Hans Moog [IF]어제 오후 11:26**** if you don't need all of that yourself, you can rent it out to people and earn money 📷 Hans Moog [IF]어제 오후 11:27 mana = tokens * time since you own them simplified 📷 Hans Moog [IF]어제 오후 11:27 the longer you hold your tokens and the more you have, the more mana you have but every now and then you have to move them to "realize" that mana 📷 lekanovic어제 오후 11:28 Is there any other project that is using a Mana solution to the network fee problem ? 📷 Hans Moog [IF]어제 오후 11:28 nah the problem with current protocol is that they are leader based 📷 Hans Moog [IF]어제 오후 11:29 you need absolute consensus on who the current leaders are and what their influence in the network is that's how blockchains works 📷 Hans Moog [IF]어제 오후 11:29 if two block producers produce 2 blocks at the same time, then you have to choose which one wins and where everybody attaches their next block to IOTA works differently and doesn't need to choose a single leader we therefore have a much bigger flexibility of designing our sybil protection mechanisms in a way, mana is also supposed to solve the problem of "rewarding" the infrastructure instead of the validators in blockchain only the miners get all the money running a node and even if it's one that is used by a lot of people will only cost you won't get anything back no fees, nothing the miners get it all 📷 Hans Moog [IF]어제 오후 11:31 in IOTA, the node operators receive the mana which gives them a share of the network throughput 📷 Hans Moog [IF]어제 오후 11:32 because in blockchain you need to decide whose txs become part of the blocks and it's not really based on networking protocols like AIMD 📷 lekanovic어제 오후 11:33 And the more Mana your node have, the more trust your node has and you have more to say in the FPC, is that correct? 📷 Hans Moog [IF]어제 오후 11:33 yeah a node that has processed a lot of txs of its users will have more mana than other nodes and therefore a bigger say in deciding conflicts its a direct measure of "trust" by its users 📷 lekanovic어제 오후 11:34 And choosing committee for dRNG would be done on L1 protocol level? Everything regarding Mana will be L1 level, right? 📷 Hans Moog [IF]어제 오후 11:35 Yeah Mana is layer1, but will also be used as weight in L2 solutions like smart contracts 📷 lekanovic어제 오후 11:35 And you are not dependant on using SC to implement this 📷 Hans Moog [IF]어제 오후 11:35 No, you don't need smart contracts That's all the base layer 📷 Hans Moog [IF]어제 오후 11:37 'Time' actually takes into account things like decay So it doesn't just increase forever It's close to "Demurrage" in monetary theory 📷 lekanovic어제 오후 11:36 For projects to be able to connect to Polkadot or Cosmos, you need to get the state of the ledger. Will it be possible to get the Tangle state? If this would be possible, then I think it would be SUPER good for IOTA 📷 Hans Moog [IF]어제 오후 11:38 Yeah but polkadot is not connecting other dlts Just inhouse stuff 📷 Hyperware어제 오후 11:39 Is there still a cap on mana so that the rich don't get richer? 📷 Hans Moog [IF]어제 오후 11:39 Yes mana is capped 📷 TangleAccountant어제 오후 11:39 u/HansMoog [IF] My first thought is thatthe evolution of this renting system will lead to several big mana renting companies that pool together tons of token holders mana. That way businesses looking to rent mana just need to deal with a reliable mana renting company for years instead of a new individualevery couple of months (because life happens and you don't know if that individual will need to sell their IOTAs due to personal reasons). Any thoughts on this? 📷 Hans Moog [IF]어제 오후 11:41 u/TangleAccountantyes that is likely - but also not a bad thing - token holders will have a place to get their monthly payout and the companies that want to use the tangle without having tokens have a place to pay 📷 TangleAccountant어제 오후 11:42 Oh I completely agree.That's really cool. I'll take a stab at creating one of those companies in the US. 📷 Hans Moog [IF]어제 오후 11:42 And everybody who wants to run a node themselves or has tokens and wants use the tangle for free can do so But "leachers" that would want to use the network for free won't be able to do so I mean ultimately there will always be "fees", as there is no "free lunch". You have a certain amount of resources that a network can process and you have a certain demand. And that will naturally result in fees based on supply / demand what you can do however is to build a system where the actual users of that system that legitimately want to use it can do so for free, just because they already "invest" enough by having tokens or running infrastructure they are already contributing to the well-being of the network through these two aspects alone it would be stupid to ask those guys for additional fees and mana essentially tries to be such a measure of honesty among the users 📷 Hyperware어제 오후 11:47 It's interesting from an investment perspective that having tokens/mana is like owning a portion of the network. 📷 Hans Moog [IF]어제 오후 11:48 Yeah, you are owning a certain % of the throughput and whatever the price will ultimately be to execute on this network - you will earn proportionally but you have to keep in mind that we are trying to build the most efficient DLT that you could possibly ever build 📷 semibaron어제 오후 11:48 The whole mana (tokens) = share of network throuput sounds very much like EOS tbh Just that EOS uses DPoS 📷 Hans Moog [IF]어제 오후 11:50 yeah i mean there is really not too many new things under the sun - you can just tweak a few things here and there, when it comes to distributing resources DPoS is simply not very nice from a centralization aspect 📷 Hans Moog [IF]어제 오후 11:50 at least not the way EOS does it delegating weights is 1 thing but assuming that the weight will always be in a way that 21 "identities" run the whole network is bad in the current world you see a centralization of power but ultimately we want to build a future where the wealth is more evenly distributed and the same goes for voting power 📷 Hans Moog [IF]어제 오후 11:52 blockchain needs leader selection it only works with such a centralizing component IOTA doesn't need that it's delusional to say that IOTA wouldn't have any such centralization but maybe we get better than just a handselected nodes📷 📷 Phantom3D어제 오후 11:52 How would this affect a regular hodler without a node. Should i keep my tokens elsewere to generate mana and put the tokens to use? 📷 Hans Moog [IF]어제 오후 11:53 you can do whatever you want with your mana just make an account at a node you regularly use and use it to build up a reputation with that node to be able to use your funds for free or run a node yourself or rent it out to companies if you just hodl 📷 semibaron어제 오후 11:54 Will there be a build-in function into the node software / wallet to delegate ("sell") my mana? 📷 Hans Moog [IF]어제 오후 11:55 u/semibaronnot from the start - that would happen on a 2nd layer ------------------------------------------------------------------------------------------------------------ 📷 dom어제 오후 9:49
suddenly be incentive to hold iota?
to generate Mana 📷 Hyperware오늘 오전 4:21 The only thing I can really do, is believe that the IF have smart answers and are still building the best solutions they can for the sake of the vision 📷 dom오늘 오전 4:43 100% - which is why we're spending so much effort to communicate it more clearly now we'll do an AMA on this topic very soon 📷 M [s2]오늘 오전 4:54 u/dom please accept my question for the AMA: will IOTA remain a permissionless system and if so, how? 📷 dom오늘 오전 4:57 of course it remains permissionless 📷 dom오늘 오전 5:20 what is permissioned about it? is ETH or Bitcoin permissioned because you have to pay a transaction fee in their native token? 📷 Gerrit오늘 오전 5:24 How did your industry partners think about the mana solution and the fact they need to hold the token to ensure network throughput? 📷 dom오늘 오전 5:26 u/Gerritconsidering how the infrastructure, legal and regulatory frameworks are improving around the adoption and usage of crypto-currencies within large companies, I really think that we are introducing this concept exactly at the right time. It should make enterprise partners comfortable in using the permissionless network without much of a hurdle.They can always launch their own network if they want to ... 📷 Gerrit오늘 오전 5:27 Launching their own network can’t be what you want 📷 dom오늘 오전 5:27 exactly but that is what's happening with Ethereum and all the other networks they don't hold Ether tokens either. 📷 Gerrit오늘 오전 5:32 Will be very exciting to see if ongoing regulation will „allow“ companies to invest and hold the tokens. With upcoming custody solutions that would be a fantastic play. 📷 Hans Moog [IF]오늘 오전 5:34 It's still possible to send transactions even without mana - mana is only used in times of congestion to give the people that have more mana more priority there will still be sharding to keep the network free most of the time 📷 Hans Moog [IF]오늘 오전 5:35 but without a protection mechanism, somebody could just spam a lot of bullshit and you could break the network(수정됨) you need some form of protection from this 📷 M [s2]오늘 오전 5:36 u/HansMoog [IF]so when I have 0 Mana, I can still send transactions? This is actually the point where it got strange... 📷 Hans Moog [IF]오늘 오전 5:37 yes you can unless the network is close to its processing capabilities / being attacked by spammers then the nodes will favor the mana holders 📷 Hans Moog [IF]오늘 오전 5:37 but having mana is not a requirement for many years to come currently even people having fpgas can't spam that many tps and we will also have sharding implemented by then 📷 M [s2]오늘 오전 5:39 Thank youu/HansMoog [IF] ! This is the actually important piece of info! 📷 Basha오늘 오전 5:38 ok, i thought it was communicated that you need at least 1 mana to process a transaction. from the blogpost: "... a node with 0 mana can issue no transactions." maybe they meant during the congestion**, but if that's the case maybe you should add that** 📷 Hans Moog [IF]오늘 오전 5:42 its under the point "Congestion control:" yeah this only applies to spam attacks network not overloaded = no mana needed 📷 Hans Moog [IF]오늘 오전 5:43 if congested => favor txs from people who have the most skin in the game but sharding will try to keep the network non-congested most of the time - but there might be short periods of time where an attacker might bring the network close to its limits and of course its going to take a while to add this, so we need a protection mechanism till sharding is supported(수정됨) 📷 Hans Moog [IF]오늘 오전 6:36 I don't have a particular problem with EOS or their amount of validators - the reason why I think blockchain is inferior has really nothing to do with the way you do sybil protection and with validators I mean "voting nodes" I mean even bitcoin has less mining pools and you could compare mining pools to dpos in some sense where people assign their weight (in that case hashing power) to the corresponding mining pools so EOS is definitely not less decentralized than any other tech but having more identities having weight in the decision process definitely makes it harder to corrupt a reasonable fraction of the system and makes it easier to shard so its desirable to have this property(수정됨) ------------------------------------------------- 📷 Antonio Nardella [IF]오늘 오전 3:36
u/C3PO[92% Cooless]They could also add more git repos instead of the wallet one, and we would probably be #1 there too.. ---------------------------------------------------------------------------------- Disclaimer: I'm sorry, maybe I'm fueling some confusion through posting this mana-thing too soon, but, instead of erasing this posting, I'm adding recent convos. Certain things about mana seem to be not clear, yet. It would be better to wait for some official clarification. But, I hope the community gives its full support to IF, 'cause there could be always some bumps along the untouched, unchartered way. -------------------------------------------------------------------------------------- Recent Addition;
Billy Sanders [IF]오늘 오후 1:36
It's still possible to send transactions even without mana - mana is only used in times of congestion to give the people that have more mana more priority
u/HansMoog [IF] Im sorry Hans, but this is false in the current congestion control algorithm. No mana = no transactions. To be honest, we havent really tried to make it work so that you can sent transactions with no mana during ties with no congestion, but I dont see how you can enable this and still maintain the sybil protection required. u/LuigiVigneri [IF] What do you think?📷
Dave [EF]오늘 오후 2:19
Suggestion: Sidebar, then get back to us with the verdict.(수정됨)📷2📷
dom오늘 오후 2:27
No Mana no tx will definitely not be the case(수정됨)📷5📷7***[오후 2:28]***Billy probably means the previous rate control paper as it was written by Luigi. I'll clarify with them📷
Hans Moog [IF]오늘 오후 2:29
When was this decided u/BillySanders [IF] and by whom? Was this discussed at last resum when I wasnt there? The last info that I had was that the congestion control should only kick in when there is congestion?!?***[오후 2:29]***📷 📷 📷📷
Navin Ramachandran [IF]오늘 오후 2:30
Let's sidebar this discussion and return when we have agreement. Dave has the right idea
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