Part 1: Hardware Requirements CryptoSource

Is it possible to mining crypto without having highly configured hardware and software? I have read an article about it. /r/bitcoin_unlimited

Is it possible to mining crypto without having highly configured hardware and software? I have read an article about it. /bitcoin_unlimited submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

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

Hello Reddit and Ethereum community!

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

Executive summary

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

Response and PoC

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

Live Demo

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

Source Code

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

Scaling

How it works & scales

Architectural Scaling

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

Economic Scaling

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

Scaled Deployment

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

Flexibility in Scaling

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

Cost

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

Getting Started

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

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

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

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

Costs and resources

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

Requirements

Scaling

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

Decentralization

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

Usability Scaling solutions should have a simple end user experience.

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

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

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

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

Bonus Points

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

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

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

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

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

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

Bonus

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

TIME

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

Dragon Den

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

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

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

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

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

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

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

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

Other Considerations

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

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

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

Conclusion

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

Disney Releases Blockchain Platform as Open Source

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

Open Source

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

Dragonchain Foundation

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

[ANN][ANDROID MINING][AIRDROP] NewEnglandcoin: Scrypt RandomSpike

New England
New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/
NewEnglandcoin
Symbol: NENG
NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones.
Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt.
1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377
NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number
Bitcoin Fork - Suitable for Home Hobbyists
NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs.
The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity.
MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018)
https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn
CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software.
Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%.
NENG v1.4.0 release enabled CPU mining inside android phones.
Youtube Video Tutorial
How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg
How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ
Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG.
We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange.
Twitter Airdrop
Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners
Graphic Redesign Bounty
Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs
Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form.
Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues.
Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1
Milestones
Roadmap
NENG v1.4.0 Android Mining, randomSpike Evaluation https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/NENG_2020_Q3_report/NENG_2020_Q3_report.pdf
RandomSpike - NENG core v1.3.0 Hardfork Upgrade Proposal https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2020Q1_Report/Scrypt_RandomSpike_NENGv1.3.0_Hardfork_Proposal.pdf
NENG Security, Decentralization & Valuation
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2019Q2_report/NENG_Security_Decentralization_Value.pdf
Whitepaper v1.0 https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/whitepaper_v1.0/NENG_WhitePaper.pdf
DISCORD https://discord.gg/UPeBwgs
Explorer
http://www.findblocks.com/exploreNENG http://86.100.49.209/exploreNENG http://nengexplorer.mooo.com:3001/
Step by step guide on how to setup an explorer: https://github.com/ShorelineCrypto/nengexplorer
Github https://github.com/ShorelineCrypto/NewEnglandCoin
Wallet
Android with UserLand App (arm64/armhf), Chromebook (x64/arm64/armhf): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.5
Linux Wallet (Ubuntu/Linux Mint, Debian/MX Linux, Arch/Manjaro, Fedora, openSUSE): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.3
MacOS Wallet (10.11 El Capitan or higher): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.2
Android with GNUroot on 32 bits old Phones (alpha release) wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0
Windows wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.3.0.1
addnode ip address for the wallet to sync faster, frequently updated conf file: https://github.com/ShorelineCrypto/cheetah_cpumineblob/mastenewenglandcoin.conf-example
How to Sync Full Node Desktop Wallet https://www.reddit.com/NewEnglandCoin/comments/er6f0q/how_to_sync_full_node_desktop_wallet/
TWITTER https://twitter.com/newenglandcoin
REDDIT https://www.reddit.com/NewEnglandCoin/
Cheetah CPU Miner Software https://github.com/ShorelineCrypto/cheetah_cpuminer
Solo Mining with GPU or ASIC https://bitcointalk.org/index.php?topic=5027091.msg52187727#msg52187727
How to Run Two Full Node in Same Desktop PC https://bitcointalk.org/index.php?topic=5027091.msg53581449#msg53581449
ASIC/GPU Mining Pools Warning to Big ASIC Miners Due to DynDiff Algo on top of Scrypt, solo mining is recommended for ASIC/GPU miners. Further more, even for mining pools, small mining pool will generate better performance than big NENG mining pool because of new algo v1.2.x post hard fork.
The set up configuration of NENG for scrypt pool mining is same as a typical normal scrypt coin. In other word, DynDiff on Scrypt algo is backward compatible with Scrypt algo. Because ASIC/GPU miners rely on CPU miners for smooth blockchain movement, checkout bottom of "Latest News" section for A WARNING to All ASIC miners before you decide to dump big ASIC hash rate into NENG mining.
(1) Original DynDiff Warning: https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708 (2) New Warning on RandomSpike Spike difficulty (244k) introduced in RandomSpike served as roadblocks to instant mining and provide security against 51% attack risk. However, this spike difficulty like a roadblock that makes big ASIC mining less profitable. In case of spike block to be mined, the spike difficulty immediately serve as base difficulty, which will block GPU/ASIC miners effectively and leave CPU cheetah solo miners dominating mining almost 100% until next base difficulty reset.
FindBlocks http://findblocks.com/
CRpool http://crpool.xyz/
Cminors' Pool http://newenglandcoin.cminors-pool.com/
SPOOL https://spools.online/
Exchange
📷
https://shorelinecrypto.com/
Features: anonymous sign up and trading. No restriction or limit on deposit or withdraw.
The trading pairs available: NewEnglandcoin (NENG) / Dogecoin (DOGE)
Trading commission: A round trip trading will incur 0.10% trading fees in average. Fees are paid only on buyer side. buy fee: 0.2% / sell fee: 0% Deposit fees: free for all coins Withdraw fees: ZERO per withdraw. Mining fees are appointed by each coin blockchain. To cover the blockchain mining fees, there is minimum balance per coin per account: * Dogecoin 2 DOGE * NewEnglandcoin 1 NENG
Latest News Aug 30, 2020 - NENG v1.4.0.5 Released for Android/Chromebook Upgrade with armhf, better hardware support https://bitcointalk.org/index.php?topic=5027091.msg55098029#msg55098029
Aug 11, 2020 - NENG v1.4.0.4 Released for Android arm64 Upgrade / Chromebook Support https://bitcointalk.org/index.php?topic=5027091.msg54977437#msg54977437
Jul 30, 2020 - NENG v1.4.0.3 Released for Linux Wallet Upgrade with 8 Distros https://bitcointalk.org/index.php?topic=5027091.msg54898540#msg54898540
Jul 21, 2020 - NENG v1.4.0.2 Released for MacOS Upgrade with Catalina https://bitcointalk.org/index.php?topic=5027091.msg54839522#msg54839522
Jul 19, 2020 - NENG v1.4.0.1 Released for MacOS Wallet Upgrade https://bitcointalk.org/index.php?topic=5027091.msg54830333#msg54830333
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining, Ubuntu 20.04 support https://bitcointalk.org/index.php?topic=5027091.msg54803639#msg54803639
Jul 11, 2020 - NENG v1.4.0 Android Mining, randomSpike Evaluation https://bitcointalk.org/index.php?topic=5027091.msg54777222#msg54777222
Jun 27, 2020 - Pre-Announce: NENG v1.4.0 Proposal for Mobile Miner Upgrade, Android Mining Start in July 2020 https://bitcointalk.org/index.php?topic=5027091.msg54694233#msg54694233
Jun 19, 2020 - Best Practice for Futurebit Moonlander2 USB ASIC on solo mining mode https://bitcointalk.org/index.php?topic=5027091.msg54645726#msg54645726
Mar 15, 2020 - Scrypt RandomSpike - NENG v1.3.0.1 Released for better wallet syncing https://bitcointalk.org/index.php?topic=5027091.msg54030923#msg54030923
Feb 23, 2020 - Scrypt RandomSpike - NENG Core v1.3.0 Relased, Hardfork on Mar 1 https://bitcointalk.org/index.php?topic=5027091.msg53900926#msg53900926
Feb 1, 2020 - Scrypt RandomSpike Proposal Published- NENG 1.3.0 Hardfork https://bitcointalk.org/index.php?topic=5027091.msg53735458#msg53735458
Jan 15, 2020 - NewEnglandcoin Dev Team Expanded with New Kickoff https://bitcointalk.org/index.php?topic=5027091.msg53617358#msg53617358
Jan 12, 2020 - Explanation of Base Diff Reset and Effect of Supply https://www.reddit.com/NewEnglandCoin/comments/envmo1/explanation_of_base_diff_reset_and_effect_of/
Dec 19, 2019 - Shoreline_tradingbot version 1.0 is released https://bitcointalk.org/index.php?topic=5121953.msg53391184#msg53391184
Sept 1, 2019 - NewEnglandcoin (NENG) is Selected as Shoreline Tradingbot First Supported Coin https://bitcointalk.org/index.php?topic=5027091.msg52331201#msg52331201
Aug 15, 2019 - Mining Update on Effect of Base Difficulty Reset, GPU vs ASIC https://bitcointalk.org/index.php?topic=5027091.msg52169572#msg52169572
Jul 7, 2019 - CPU Mining on macOS Mojave is supported under latest Cheetah_Cpuminer Release https://bitcointalk.org/index.php?topic=5027091.msg51745839#msg51745839
Jun 1, 2019 - NENG Fiat project is stopped by Square, Inc https://bitcointalk.org/index.php?topic=5027091.msg51312291#msg51312291
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto https://bitcointalk.org/index.php?topic=5027091.msg50714764#msg50714764
Apr 7, 2019 - Announcement of Fiat Project for all U.S. Residents & Mobile Miner Project Initiation https://bitcointalk.org/index.php?topic=5027091.msg50506585#msg50506585
Apr 1, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50417196#msg50417196
Mar 27, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50332097#msg50332097
Mar 17, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50208194#msg50208194
Feb 26, 2019 - Community Project - NewEnglandcoin Graphic Redesign Bounty Initiated https://bitcointalk.org/index.php?topic=5027091.msg49931305#msg49931305
Feb 22, 2019 - Dev Policy on Checkpoints on NewEnglandcoin https://bitcointalk.org/index.php?topic=5027091.msg49875242#msg49875242
Feb 20, 2019 - NewEnglandCoin v1.2.1 Released to Secure the Hard Kork https://bitcointalk.org/index.php?topic=5027091.msg49831059#msg49831059
Feb 11, 2019 - NewEnglandCoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork https://bitcointalk.org/index.php?topic=5027091.msg49685389#msg49685389
Jan 13, 2019 - Cheetah_CpuMiner added support for CPU Mining on Mac https://bitcointalk.org/index.php?topic=5027091.msg49218760#msg49218760
Jan 12, 2019 - NENG Core v1.1.2 Released to support MacOS OSX Wallet https://bitcointalk.org/index.php?topic=5027091.msg49202088#msg49202088
Jan 2, 2019 - Cheetah_Cpuminer v1.1.0 is released for both Linux and Windows https://bitcointalk.org/index.php?topic=5027091.msg49004345#msg49004345
Dec 31, 2018 - Technical Whitepaper is Released https://bitcointalk.org/index.php?topic=5027091.msg48990334#msg48990334
Dec 28, 2018 - Cheetah_Cpuminer v1.0.0 is released for Linux https://bitcointalk.org/index.php?topic=5027091.msg48935135#msg48935135
Update on Dec 14, 2018 - NENG Blockchain Stuck Issue https://bitcointalk.org/index.php?topic=5027091.msg48668375#msg48668375
Nov 27, 2018 - Exclusive for PC CPU Miners - How to Steal a Block from ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48258465#msg48258465
Nov 28, 2018 - How to CPU Mine a NENG block with window/linux PC https://bitcointalk.org/index.php?topic=5027091.msg48298311#msg48298311
Nov 29, 2018 - A Warning to ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708
Disclosure: Dev Team Came from ShorelineCrypto, a US based Informatics Service Business offering Fee for service for Coin Creation, Coin Exchange Listing, Blockchain Consulting, etc.
submitted by honglu69 to NewEnglandCoin [link] [comments]

Help me bring awareness to the new users and noobs like myself joining this community!

Help me bring awareness to the new users and noobs like myself joining this community!
Fellow hodlers and traders, I hope I can get some help bringing some awareness to the new people joining this community
A few months back, I noticed a very small deposit into my Hardware Wallet and made this post, (https://www.reddit.com/Bitcoin/comments/hzsv83/received_00001_bitcoin_out_of_nowhere_into_my/ ). A great response from user u/almkglor suggested to use electrum with coin control and get rid of the coins. I didn’t have the time back them to really get behind the technology (I can thankfully) so I decided to leave the coins there and not move any in/out from the HW until I figure it out.
Another users noted that even $1.11 is quite large for a dusting attack but maybe the amounts are increasing, etc. I stopped moving any coins in or out since that date just as a precaution and I started checking every transaction since I bought my HW and started noticing several larger deposits, some very recent, some older, small and not-so-small amounts. Is there a way to know if my HW has some sort of public address published somewhere I could look up and find out about some of those transactions? To try to figure out why im getting the deposits (not complaining at all but still)? What another type of information I can find out?
I know for a fact I haven’t make any of the deposits below into my HW since July 28th, 2020 when I made the above post thinking one of the deposits was a dusting attack

https://preview.redd.it/61nxiw86xxv51.png?width=205&format=png&auto=webp&s=22bf326ae209ad52b86ac84626549a57a122a8cd
https://preview.redd.it/ya071758xxv51.png?width=202&format=png&auto=webp&s=c880f63be79c6229b40110ac518e3fe15d2e1b00
https://preview.redd.it/408dk929xxv51.png?width=207&format=png&auto=webp&s=80fce0c4ff0e17bb1832bfec1791ce608a019506
A few small ones:

https://preview.redd.it/s598chlaxxv51.png?width=209&format=png&auto=webp&s=a5d136b08bb8cd8da88f82d395e5b4ecfbc2fdd1

https://preview.redd.it/e3ppqhpbxxv51.png?width=210&format=png&auto=webp&s=544a21ad5cccf4867fd4fa075f728a4c0127a0fc
I also noticed smaller ones, along with some deposits I do recognize as mine, could the transfer be getting distributed and showing as 2 separate deposits? Would it take several days? I wouldn’t think so.
I do recognize this one:

https://preview.redd.it/l5zqohycxxv51.png?width=217&format=png&auto=webp&s=c4363e495be537d4b9057579eef80950b41b6f72
But I don’t recognize this other one a few days later

https://preview.redd.it/r70p1qrdxxv51.png?width=218&format=png&auto=webp&s=e206898cdec96d59f8339fc5628347b6808d34a4
Before I could spend some time and configure my Electrum wallet, I see the following post (https://www.reddit.com/Bitcoin/comments/ijcjax/1400_bitcoins_stolen_after_a_user_installed_an/ )about 1400 bitcoins stolen from a phishing attack to an older version of the Electrum wallet (some users stated it could be fake, but still) as a noob, how can we safely learn about the btc technology, where can we find legit information, tutorials, etc:
  1. How about the Ledger hack, are HW no longer safe?
  2. Which brand of HW do you recommend to store long-term?
  3. Which hot wallets do you recommend and why?
  4. What would an ideal setup look like, both hardware and software in order to safely be part of this community as well as contribute to the network.
  5. Any links on how to run a secure node?
  6. How to make money staking or forwarding transactions to nodes?
  7. Any experience investing in companies like blockfi (not advertising)or similar to earn interests, which one is better?
submitted by AlxndrMd1 to Bitcoin [link] [comments]

How Bitcoin Mining Works

When you hear about bitcoin “mining,” you envisage coins being dug out of the ground. But bitcoin isn’t physical, so why do we call it mining?
Similar to gold mining, bitcoins exist in the protocol’s design just as the gold exists underground, but they haven’t been brought out into the light yet, just as the gold hasn’t yet been dug up.
The bitcoin protocol stipulates that a maximum of 21 million bitcoins will exist at some point. What miners do is bring them out into the light, a few at a time. Once miners finish mining all these coins, there won’t be more coins rolling out unless the bitcoin protocol changes to allow for a larger supply. Miners get paid in transaction fees for creating blocks of validated transactions and including them in the blockchain.
To understand how bitcoin mining works, let’s backtrack a little bit and talk about nodes. A node is a powerful computer that runs the bitcoin software and fully validates transactions and blocks. Since the bitcoin network is decentralized these nodes are collectively responsible for confirming pending transactions.
Anyone can run a node—you just download the free bitcoin software. The drawback is that it consumes energy and storage space – the network at time of writing takes hundreds of gigabytes of data. Nodes spread bitcoin transactions around the network. One node will send information to a few nodes that it knows, who will relay the information to nodes that they know, etc. That way, the pending transaction ends up getting around the whole network pretty quickly.
Some nodes are mining nodes,usually referred to as miners. These chunk outstanding transactions into blocks and add them to the blockchain. How do they do this? By solving a complex mathematical puzzle that is part of the bitcoin program, and including the answer in the block.
The puzzle that needs solving is to find a number that, when combined with the data in the block and passed through a hash function (which converts input data of any size into output data of a fixed length, produces a result that is within a certain range.
For trivia lovers, this number is called a “nonce”, which is an abbreviation of “number used once.” In the blockchain, the nonce is an integer between 0 and 4,294,967,296.
How do they find this number? By guessing at random. The hash function makes it impossible to predict what the output will be. So, miners guess the mystery number and apply the hash function to the combination of that guessed number and the data in the block. The resulting hash starts with a certain number of zeroes. There’s no way of knowing which number will work, because two consecutive integers will give wildly varying results. What’s more, there may be several nonces that produce the desired result, or there may be none. In that case, the miners keep trying but with a different block configuration.
The difficulty of the calculation (the required number of zeros at the beginning of the hash string) is adjusted frequently, so that it takes on average about 10 minutes to process a block.
Why 10 minutes? That is the amount of time that the bitcoin developers think is necessary for a steady and diminishing flow of new coins until the maximum number of 21 million is reached (expected some time in 2140).
The first miner to get a resulting hash within the desired range announces its victory to the rest of the network. All the other miners immediately stop work on that block and start trying to figure out the mystery number for the next one. As a reward for its work, the victorious miner gets some new bitcoin.
At the time of writing, the reward is 6.25 bitcoins per block, which is worth around $56,000 in June 2020.
However, it’s not nearly as cushy a deal as it sounds. There are a lot of mining nodes competing for that reward, and the more computing power you have and the more guessing calculations you can perform, the luckier you are.
Also, the costs of being a mining node are considerable, not only because of the powerful hardware needed, but also because of the large amounts of electricity consumed by these processors.
And, the number of bitcoins awarded as a reward for solving the puzzle will decrease. It’s 6.25 now, but it halves every four years or so (the next one is expected in 2024). The value of bitcoin relative to cost of electricity and hardware could go up over the next few years to partially compensate for this reduction, but it’s not certain.
If you’ve made it this far, then congratulations! There is still so much more to explain about the system, but at least now you have an idea of the broad outline of the genius of the programming and the concept. For the first time we have a system that allows for convenient digital transfers in a decentralized, trust-free and tamper-proof way.
submitted by hackatoshi to u/hackatoshi [link] [comments]

What is Masternode? Why Is XinFin Masternode a Good Alternative to Proof of Work

Taking into account current market conditions more and more crypto enthusiasts are gaining interest in being rewarded for holding tokens. Ain’s it’s beneficial than patiently waiting for the moon? Traditional Proof-of-Work (PoW) mining is not in the best shape. Therefore miners are not an exception as it’s getting harder to stay profitable. Plus, PoW mining isn’t friendly for mass adoption and requires huge network consumption. Another important fact is that you do not have to be a trading guru to start gaining additional income. These are just a few reasons why more buzz have been around the Proof-of-Stake (PoS) and Masternodes (MN). We have to admit that they are eye-catching nowadays, and considered as the future of cryptocurrency.
Now you might be asking yourself “What is the Masternode?” Let’s get down to business!
Well, in a nutshell, masternode is a server on a decentralized network. Some blockchain protocols provide for the creation of particular nodes that perform additional work on the verification of transactions and bring their owners regular profits. Such nodes are called masternodes. They regularly get rewards for completing such actions. Builds a curiosity? Move on!
Why Do You Need to Launch a XinFin Masternode Now, Until it’s Not Too Late? XinFin Masternode is a good option for passive income, and there are several reasons why it might be the right time to start running a XinFin masternode or a few at once.
First of all, XinFin masternodes are not so famous for now. However, this is likely to change soon. The same applies to rewards, which will decrease every year. Secondly, the XinFin XDC coin is cheaper, which means that the entry threshold at the moment is much lower than before. It won’t cost you a fortune. Finally, it’s better to hold and get rewards than merely hope for prices to go up.
Although according to the CoinGecko 2018 report the numbers of both masternodes and masternode coins increased significantly during the past year, there is still a substantial drop in overall value. The total market cap for masternodes coins dropped from over $12 billion in January 2018 to just over $500 million by 2018’s end — a double-digit drop quarter-on-quarter. Nevertheless, it’s just the beginning of the XinFin. Remember, the early bird gets the worm!
What is the Average XinFin Masternode ROI? Take in mind, that ROI is a relative term in the context of cryptocurrency space. We got used to the practice that ROI in crypto space is a bit another term, unlike the traditional markets where XinFin ROI measures per year around 10%+ as per the past few months’ data.
How to Setup Masternode: It’s very easy to setup XinFin Masternode compare to setting us crypto mining facility for Bitcoin and ethereum.
XinFin vs bitcoin mining: XinFin Masternode needs the lowest hardware configuration to run masternode while bitcoin needs the high configuration of hardware to run bitcoin mining and this also results in high depreciation every month with high risk. While XinFin Masternode runs with a tiny VPS hosting plan with the lowest cost of operation.
Before the launch of XinFin main-net i used to do bitcoin and ethereum mining And now shifted to XinFin network after the launch of main-net
Disclaimer: Digital asset investment, Mining comes with high risk. This article is not for the purpose of investment, tax or legal advice. The author is not responsible for any review of the assets. Please consult with your financial advisor before Crypto Investment or starting mining facilities
Useful link for XinFin Masternode Here is a link on How to setup masternode.
IndSoft System partnership with XinFin for hosting masternode: Click here to know more about partnership.
Guide to setup node with one click installer
For any instant support join XinFin Telegram Group.
submitted by dojogang to u/dojogang [link] [comments]

Why and how to run a ChainX node on Ankr

Why and how to run a ChainX node on Ankr

https://preview.redd.it/a23q7hk8vzd51.png?width=1000&format=png&auto=webp&s=e6881f85b69711ad999ec80481a1d982019a798c
Looking to get started with ChainX? Eager to know what ChainX is? This article will cover both, so stay where are you are and learn about what separates ChainX from other Polkadot Parachains.
ChainX is one of the several Parachains of Polkadot, a Web3 Foundation project focused on bringing the numerous blockchains of the sector together through interoperability and easy integration.
The ChainX team is building a public blockchain ecosystem of multi-currency integration. With a unique PoS consensus algorithm that follows an asset mining model, “One Asset One Vote” measures mining power based on market value of large caps like BTC, ETH, EOS, and other assets from users inter-chain deposits. Deposit data is then used with Bitcoin’s model to halve output eventually, and distribute PCX tokens in the fairest way possible.
If you are ready to start asset mining across different chains with ChainX, read on!

Tutorial: how to deploy your ChainX node on Ankr

  1. Head to app.ankr.com, create an account if you don’t have one already, then click the Deploy a Node button.

https://preview.redd.it/2w6m2xccvzd51.png?width=700&format=png&auto=webp&s=2dc4ad9bcfa31abe804c2d56b111162a8ccc00d6
  1. Search or scroll down to find the ChainX card, hover over it and press the Deploy button next to the Validator node or Full node label.

https://preview.redd.it/aqmusy7hvzd51.png?width=700&format=png&auto=webp&s=ab7942468410bbb57fc9b8e81a4d9e7a7a413bf1
The Validator node is for staking, while the Full node serves development purposes.
  1. Now you are taken to the configuration page. The hardware configuration is already set to the optimal system requirements, but you are allowed to increase the specifications if you wish to do so by using the Advanced button.
  2. The platform also recommends a cluster, which is usually the one that has the most freely available resources. In this particular case, the recommended cluster is the UK cluster, but another cluster may be recommended depending on where resources are most available at the time.

https://preview.redd.it/icuunhujvzd51.png?width=700&format=png&auto=webp&s=e1806e6cda95bb5290a54fd4321cdd0878fc5d0d
  1. If you are deploying a Full node, select if you need archiving. In case you want to query historical data, please select Archive. If this is not the case, you can go with the Non-Archive option for less disk space and faster performance.

https://preview.redd.it/mn356nhmvzd51.png?width=700&format=png&auto=webp&s=84fc0fb90619dbe4c4312465f033ad0377bc23fe
If you want to run a Validator, there is no archive option.
  1. Name your node, using up to 32 characters, or simply take the default name provided.
  2. Select your preferred payment option (ANKR ERC-20, ANKR Native or USDT or credit card). If you choose to pay with cryptocurrency you need to deposit funds on the generated address.
  3. Click Deploy and once payment is received, your node will automatically start deploying and be online in minutes for use!

Questions?

You can find the most relevant FAQ’s and interact directly with our customer service agents at https://app.ankr.com, or contact the admins in our official Telegram Node Support group

Useful ChainX links

Follow Ankr on social media

submitted by hunnykaushal3 to Ankrofficial [link] [comments]

Want to know why NEM should be as popular as Ethereum? this will be bigger than any altcoins you see, here's why

Want to know why NEM should be as popular as Ethereum? this will be bigger than any altcoins you see, here's why

Altcoin Explorer: NEM (XEM), the Enterprise-Grade Blockchain Platform


https://preview.redd.it/5ogfihikwkg51.png?width=1300&format=png&auto=webp&s=099780e02777d16d4e2add64b249c46da1cd488b
Nestled among the top 40 cryptocurrencies by reported market cap, New Economy Movement — popularly known as NEM (XEM) – is a peer-to-peer (P2P), dual-layer blockchain smart contract platform written in one of the most influential programming languages, Java. NEM uses the proof-of-importance (POI) consensus algorithm that essentially values the tokens held and the activity conducted by the nodes on the blockchain network.
In this Altcoin Explorer, BTCManager delves deeper into the finer intricacies of the NEM blockchain protocol, including the project’s POI consensus algorithm, its native digital token XEM, and some of its real-world use-cases.
Without further ado, let’s get to the core of this high-performance distributed ledger technology (DLT) platform.

History of NEM

NEM was launched on March 31, 2015, with an aim to develop an enterprise-grade blockchain protocol that could circumvent the infamous trilemma of blockchain: scalability, speed, and privacy.
Operated by a Gibraltar-registered NEM Group, NEM is a fork-out version of the NXT blockchain. After the successful fork, the NEM community decided to build its ecosystem from the ground up and developed its own codebase to make the network more scalable and faster.
NEM’s insistence toward building its own tech infrastructure led to a DLT protocol that is unlike anything resembling other similar platforms.
Today, NEM ranks among the top go-to blockchain platforms for enterprises across the world, rivaling competing protocols including Ethereum (ETH), and TRON (TRX), among others.

NEM’s Proof-of-Importance (POI) Algorithm

Unlike Bitcoin’s (BTC) energy-intensive Proof-of-Work (PoW) and Ethereum’s yet-to-be-implemented Proof-of-Stake (PoS) consensus algorithm, NEM uses PoI consensus mechanism.
The PoI mechanism achieves consensus by incentivizing active user participation in the NEM network. This consensus infrastructure ensures an agile decentralized network by rewarding well-behaved nodes that not only possess a significant stake in the network but are also actively engaged in executing transactions to maintain the network’s robustness.
Specifically, each node in the network possesses an ‘Importance Score’ that impacts the number of times the said node can ‘Harvest’ the XEM altcoin.
Initially, when a user puts XEM tokens into their wallet, they are called ‘unvested coins.’ Over time, as the wallets start accumulating an increasing number of XEM and contribute to the network’s transaction volume, they start collecting importance scores. At the same time, the XEM tokens in these wallets change into ‘vested coins,’ provided that there are at least 10000 tokens in the wallet.
To put things into perspective, let’s take the help of a small example.
On day 1, Joe receives 50,000 XEM in his digital wallet. Now, with each passing day, the NEM network will ‘vest’ 10 percent of the tokens held by Joe. So, on day 2, 5,000 tokens held by Joe are vested into the network. On day 3, 10 percent of the remaining tokens – 15,000 XEM – get vested into the network, leaving Joe with 13,500 XEM, and so one. After a couple of days, Joe sees that the number of XEM vested by him has crossed the 10,000 coins threshold, thereby, making him eligible to seek rewards from the NEM blockchain for his contribution to vesting his tokens.
Close followers of blockchain projects would find the aforementioned network reward mechanism bear a close resemblance to the PoS consensus algorithm. However, it’s worthy of note that vesting coins is just one way of calculating a node’s importance score.
The NEM protocol also rewards nodes that are responsible for most activity on the network. In essence, this means that the higher the number of transactions executed by a node, the more likely it is to gain higher importance points. The balance between vesting XEM and network activity is an important metric to be maintained by NEM nodes as it directly impacts their likelihood of harvesting XEM.
NEM’s consensus algorithm does away with several issues plaguing the more energy-intensive protocols such as PoW. For instance, PoI does not necessarily require high-energy hardware to run the nodes. The decentralized nature of the algorithm means that almost any machine — irrespective of its tech configuration – can participate in the NEM ecosystem ensuring it remains decentralized.

NEM’s Native Digital Token — XEM

XEM, unlike the vast majority of other cryptocurrencies, isn’t mined or staked using Pow or PoS algorithms. Rather, as explained earlier, XEM is ‘harvested’ through the PoI algorithm which ensures a steady supply of the digital token without flooding the market and involving the risk of a dramatic crash in price.
Per data on CoinMarketCap, at the time of writing, XEM trades at $0.04 with a market cap of more than $382 million and a 24-hour trading volume of approximately $6.8 million. The coin reached its all-time high of $1.92 in January 2018.
A large number of reputable cryptocurrency exchanges trade XEM, including Binance, Upbit, OKEx, Bithumb, ProBit, among others. The digital token can be easily traded with BTC, ETH, and USDT trading pairs.
That said, if you wish to vest your XEM to partake in the maintenance of the NEM network and earn rewards, it is recommended you store your tokens in the official NEM Nano wallet for desktop and mobile OS. Only XEM tokens held in the official NEM Nano wallet are eligible for vesting.

NEM Use-Cases

To date, NEM has been deployed for various real-world applications with promising results.
In 2018, Ukraine launched a blockchain-based e-voting trial leveraging the NEM DLT platform.
At the time, Ukraine’s Central Election Commission – with the local NEM Foundation representation – estimated the test vote trial in each polling station could cost as low as $1,227. The organization’s Oleksandr Stelmakh lauded the efforts, saying that using a blockchain-powered voting mechanism would make it impossible for anyone to fiddle with the records. The Commission added that the NEM protocol presents information in a more user-friendly format for voters.
In the same year, Malaysia’s Ministry of Education launched an e-scroll system based on the NEM blockchain to tackle the menace of fake degrees. The University Degree Issuance and Verification System use the NEM blockchain which is interrogated upon scanning of a QR code printed on the degree certificate.
The Ministry added that one of the primary reasons for its decision to selected the NEM platform was its unique and cutting-edge features in managing traceability and authentication requirements.
On a recent note, the Bank of Lithuania announced that it would be issuing its NEM blockchain-powered digital collector’s coin (LBCoin) in July after the successful completion of its testing phase.

Final Thoughts

Summing up, NEM offers a wide array of in-house features that separate it from other blockchain projects in a space that is becoming increasingly congested. NEM’s creative PoI consensus algorithm is a fresh take on the PoS algorithm for performance enhancement. Further, the project’s newly launched enterprise-grade DLT solution, Symbol, offers a tremendous option to businesses to help them cut costs, reduce complexities, and streamline innovation.
NEM uses the Java programming language that makes it an easy project for developers to get involved with, unlike other projects such as Ethereum that use platform-specific programming languages like Solidity. The project’s tech infrastructure not only makes it less power-intensive compared to Bitcoin but also more scalable than its rival projects including Ethereum and NEO.
NEM’s tagline, “Smart Asset Blockchain, Built for Performance,” perfectly captures everything the project has to offer. Over the years, NEM’s active developer community has craftily addressed the notorious bottlenecks in the vast majority of blockchain solutions, The future looks promising for NEM as it continues to foster a trustless and blockchain-driven economy for tomorrow.
Source
submitted by charlesgwynne to CryptocurrencyICO [link] [comments]

Want to know why NEM should be as popular as Ethereum? this will be bigger than any altcoins you see, here's why

Want to know why NEM should be as popular as Ethereum? this will be bigger than any altcoins you see, here's why

Altcoin Explorer: NEM (XEM), the Enterprise-Grade Blockchain Platform


https://preview.redd.it/manbawoqvkg51.png?width=1300&format=png&auto=webp&s=fcbae1f067261326f11641bb9b18cd6f57616966
Nestled among the top 40 cryptocurrencies by reported market cap, New Economy Movement — popularly known as NEM (XEM) – is a peer-to-peer (P2P), dual-layer blockchain smart contract platform written in one of the most influential programming languages, Java. NEM uses the proof-of-importance (POI) consensus algorithm that essentially values the tokens held and the activity conducted by the nodes on the blockchain network.
In this Altcoin Explorer, BTCManager delves deeper into the finer intricacies of the NEM blockchain protocol, including the project’s POI consensus algorithm, its native digital token XEM, and some of its real-world use-cases.
Without further ado, let’s get to the core of this high-performance distributed ledger technology (DLT) platform.

History of NEM

NEM was launched on March 31, 2015, with an aim to develop an enterprise-grade blockchain protocol that could circumvent the infamous trilemma of blockchain: scalability, speed, and privacy.
Operated by a Gibraltar-registered NEM Group, NEM is a fork-out version of the NXT blockchain. After the successful fork, the NEM community decided to build its ecosystem from the ground up and developed its own codebase to make the network more scalable and faster.
NEM’s insistence toward building its own tech infrastructure led to a DLT protocol that is unlike anything resembling other similar platforms.
Today, NEM ranks among the top go-to blockchain platforms for enterprises across the world, rivaling competing protocols including Ethereum (ETH), and TRON (TRX), among others.

NEM’s Proof-of-Importance (POI) Algorithm

Unlike Bitcoin’s (BTC) energy-intensive Proof-of-Work (PoW) and Ethereum’s yet-to-be-implemented Proof-of-Stake (PoS) consensus algorithm, NEM uses PoI consensus mechanism.
The PoI mechanism achieves consensus by incentivizing active user participation in the NEM network. This consensus infrastructure ensures an agile decentralized network by rewarding well-behaved nodes that not only possess a significant stake in the network but are also actively engaged in executing transactions to maintain the network’s robustness.
Specifically, each node in the network possesses an ‘Importance Score’ that impacts the number of times the said node can ‘Harvest’ the XEM altcoin.
Initially, when a user puts XEM tokens into their wallet, they are called ‘unvested coins.’ Over time, as the wallets start accumulating an increasing number of XEM and contribute to the network’s transaction volume, they start collecting importance scores. At the same time, the XEM tokens in these wallets change into ‘vested coins,’ provided that there are at least 10000 tokens in the wallet.
To put things into perspective, let’s take the help of a small example.
On day 1, Joe receives 50,000 XEM in his digital wallet. Now, with each passing day, the NEM network will ‘vest’ 10 percent of the tokens held by Joe. So, on day 2, 5,000 tokens held by Joe are vested into the network. On day 3, 10 percent of the remaining tokens – 15,000 XEM – get vested into the network, leaving Joe with 13,500 XEM, and so one. After a couple of days, Joe sees that the number of XEM vested by him has crossed the 10,000 coins threshold, thereby, making him eligible to seek rewards from the NEM blockchain for his contribution to vesting his tokens.
Close followers of blockchain projects would find the aforementioned network reward mechanism bear a close resemblance to the PoS consensus algorithm. However, it’s worthy of note that vesting coins is just one way of calculating a node’s importance score.
The NEM protocol also rewards nodes that are responsible for most activity on the network. In essence, this means that the higher the number of transactions executed by a node, the more likely it is to gain higher importance points. The balance between vesting XEM and network activity is an important metric to be maintained by NEM nodes as it directly impacts their likelihood of harvesting XEM.
NEM’s consensus algorithm does away with several issues plaguing the more energy-intensive protocols such as PoW. For instance, PoI does not necessarily require high-energy hardware to run the nodes. The decentralized nature of the algorithm means that almost any machine — irrespective of its tech configuration – can participate in the NEM ecosystem ensuring it remains decentralized.

NEM’s Native Digital Token — XEM

XEM, unlike the vast majority of other cryptocurrencies, isn’t mined or staked using Pow or PoS algorithms. Rather, as explained earlier, XEM is ‘harvested’ through the PoI algorithm which ensures a steady supply of the digital token without flooding the market and involving the risk of a dramatic crash in price.
Per data on CoinMarketCap, at the time of writing, XEM trades at $0.04 with a market cap of more than $382 million and a 24-hour trading volume of approximately $6.8 million. The coin reached its all-time high of $1.92 in January 2018.
A large number of reputable cryptocurrency exchanges trade XEM, including Binance, Upbit, OKEx, Bithumb, ProBit, among others. The digital token can be easily traded with BTC, ETH, and USDT trading pairs.
That said, if you wish to vest your XEM to partake in the maintenance of the NEM network and earn rewards, it is recommended you store your tokens in the official NEM Nano wallet for desktop and mobile OS. Only XEM tokens held in the official NEM Nano wallet are eligible for vesting.

NEM Use-Cases

To date, NEM has been deployed for various real-world applications with promising results.
In 2018, Ukraine launched a blockchain-based e-voting trial leveraging the NEM DLT platform.
At the time, Ukraine’s Central Election Commission – with the local NEM Foundation representation – estimated the test vote trial in each polling station could cost as low as $1,227. The organization’s Oleksandr Stelmakh lauded the efforts, saying that using a blockchain-powered voting mechanism would make it impossible for anyone to fiddle with the records. The Commission added that the NEM protocol presents information in a more user-friendly format for voters.
In the same year, Malaysia’s Ministry of Education launched an e-scroll system based on the NEM blockchain to tackle the menace of fake degrees. The University Degree Issuance and Verification System use the NEM blockchain which is interrogated upon scanning of a QR code printed on the degree certificate.
The Ministry added that one of the primary reasons for its decision to selected the NEM platform was its unique and cutting-edge features in managing traceability and authentication requirements.
On a recent note, the Bank of Lithuania announced that it would be issuing its NEM blockchain-powered digital collector’s coin (LBCoin) in July after the successful completion of its testing phase.

Final Thoughts

Summing up, NEM offers a wide array of in-house features that separate it from other blockchain projects in a space that is becoming increasingly congested. NEM’s creative PoI consensus algorithm is a fresh take on the PoS algorithm for performance enhancement. Further, the project’s newly launched enterprise-grade DLT solution, Symbol, offers a tremendous option to businesses to help them cut costs, reduce complexities, and streamline innovation.
NEM uses the Java programming language that makes it an easy project for developers to get involved with, unlike other projects such as Ethereum that use platform-specific programming languages like Solidity. The project’s tech infrastructure not only makes it less power-intensive compared to Bitcoin but also more scalable than its rival projects including Ethereum and NEO.
NEM’s tagline, “Smart Asset Blockchain, Built for Performance,” perfectly captures everything the project has to offer. Over the years, NEM’s active developer community has craftily addressed the notorious bottlenecks in the vast majority of blockchain solutions, The future looks promising for NEM as it continues to foster a trustless and blockchain-driven economy for tomorrow.
Source
submitted by charlesgwynne to ico [link] [comments]

Altcoin Explorer: NEM (XEM), the Enterprise-Grade Blockchain Platform

Altcoin Explorer: NEM (XEM), the Enterprise-Grade Blockchain Platform

https://preview.redd.it/f82bxncaxkg51.png?width=1300&format=png&auto=webp&s=34afde717d1781f7e472c8dcacd18a8b9390a78d
Nestled among the top 40 cryptocurrencies by reported market cap, New Economy Movement — popularly known as NEM (XEM) – is a peer-to-peer (P2P), dual-layer blockchain smart contract platform written in one of the most influential programming languages, Java. NEM uses the proof-of-importance (POI) consensus algorithm that essentially values the tokens held and the activity conducted by the nodes on the blockchain network.
In this Altcoin Explorer, BTCManager delves deeper into the finer intricacies of the NEM blockchain protocol, including the project’s POI consensus algorithm, its native digital token XEM, and some of its real-world use-cases.
Without further ado, let’s get to the core of this high-performance distributed ledger technology (DLT) platform.

History of NEM

NEM was launched on March 31, 2015, with an aim to develop an enterprise-grade blockchain protocol that could circumvent the infamous trilemma of blockchain: scalability, speed, and privacy.
Operated by a Gibraltar-registered NEM Group, NEM is a fork-out version of the NXT blockchain. After the successful fork, the NEM community decided to build its ecosystem from the ground up and developed its own codebase to make the network more scalable and faster.
NEM’s insistence toward building its own tech infrastructure led to a DLT protocol that is unlike anything resembling other similar platforms.
Today, NEM ranks among the top go-to blockchain platforms for enterprises across the world, rivaling competing protocols including Ethereum (ETH), and TRON (TRX), among others.

NEM’s Proof-of-Importance (POI) Algorithm

Unlike Bitcoin’s (BTC) energy-intensive Proof-of-Work (PoW) and Ethereum’s yet-to-be-implemented Proof-of-Stake (PoS) consensus algorithm, NEM uses PoI consensus mechanism.
The PoI mechanism achieves consensus by incentivizing active user participation in the NEM network. This consensus infrastructure ensures an agile decentralized network by rewarding well-behaved nodes that not only possess a significant stake in the network but are also actively engaged in executing transactions to maintain the network’s robustness.
Specifically, each node in the network possesses an ‘Importance Score’ that impacts the number of times the said node can ‘Harvest’ the XEM altcoin.
Initially, when a user puts XEM tokens into their wallet, they are called ‘unvested coins.’ Over time, as the wallets start accumulating an increasing number of XEM and contribute to the network’s transaction volume, they start collecting importance scores. At the same time, the XEM tokens in these wallets change into ‘vested coins,’ provided that there are at least 10000 tokens in the wallet.
To put things into perspective, let’s take the help of a small example.
On day 1, Joe receives 50,000 XEM in his digital wallet. Now, with each passing day, the NEM network will ‘vest’ 10 percent of the tokens held by Joe. So, on day 2, 5,000 tokens held by Joe are vested into the network. On day 3, 10 percent of the remaining tokens – 15,000 XEM – get vested into the network, leaving Joe with 13,500 XEM, and so one. After a couple of days, Joe sees that the number of XEM vested by him has crossed the 10,000 coins threshold, thereby, making him eligible to seek rewards from the NEM blockchain for his contribution to vesting his tokens.
Close followers of blockchain projects would find the aforementioned network reward mechanism bear a close resemblance to the PoS consensus algorithm. However, it’s worthy of note that vesting coins is just one way of calculating a node’s importance score.
The NEM protocol also rewards nodes that are responsible for most activity on the network. In essence, this means that the higher the number of transactions executed by a node, the more likely it is to gain higher importance points. The balance between vesting XEM and network activity is an important metric to be maintained by NEM nodes as it directly impacts their likelihood of harvesting XEM.
NEM’s consensus algorithm does away with several issues plaguing the more energy-intensive protocols such as PoW. For instance, PoI does not necessarily require high-energy hardware to run the nodes. The decentralized nature of the algorithm means that almost any machine — irrespective of its tech configuration – can participate in the NEM ecosystem ensuring it remains decentralized.

NEM’s Native Digital Token — XEM

XEM, unlike the vast majority of other cryptocurrencies, isn’t mined or staked using Pow or PoS algorithms. Rather, as explained earlier, XEM is ‘harvested’ through the PoI algorithm which ensures a steady supply of the digital token without flooding the market and involving the risk of a dramatic crash in price.
Per data on CoinMarketCap, at the time of writing, XEM trades at $0.04 with a market cap of more than $382 million and a 24-hour trading volume of approximately $6.8 million. The coin reached its all-time high of $1.92 in January 2018.
A large number of reputable cryptocurrency exchanges trade XEM, including Binance, Upbit, OKEx, Bithumb, ProBit, among others. The digital token can be easily traded with BTC, ETH, and USDT trading pairs.
That said, if you wish to vest your XEM to partake in the maintenance of the NEM network and earn rewards, it is recommended you store your tokens in the official NEM Nano wallet for desktop and mobile OS. Only XEM tokens held in the official NEM Nano wallet are eligible for vesting.

NEM Use-Cases

To date, NEM has been deployed for various real-world applications with promising results.
In 2018, Ukraine launched a blockchain-based e-voting trial leveraging the NEM DLT platform.
At the time, Ukraine’s Central Election Commission – with the local NEM Foundation representation – estimated the test vote trial in each polling station could cost as low as $1,227. The organization’s Oleksandr Stelmakh lauded the efforts, saying that using a blockchain-powered voting mechanism would make it impossible for anyone to fiddle with the records. The Commission added that the NEM protocol presents information in a more user-friendly format for voters.
In the same year, Malaysia’s Ministry of Education launched an e-scroll system based on the NEM blockchain to tackle the menace of fake degrees. The University Degree Issuance and Verification System use the NEM blockchain which is interrogated upon scanning of a QR code printed on the degree certificate.
The Ministry added that one of the primary reasons for its decision to selected the NEM platform was its unique and cutting-edge features in managing traceability and authentication requirements.
On a recent note, the Bank of Lithuania announced that it would be issuing its NEM blockchain-powered digital collector’s coin (LBCoin) in July after the successful completion of its testing phase.

Final Thoughts

Summing up, NEM offers a wide array of in-house features that separate it from other blockchain projects in a space that is becoming increasingly congested. NEM’s creative PoI consensus algorithm is a fresh take on the PoS algorithm for performance enhancement. Further, the project’s newly launched enterprise-grade DLT solution, Symbol, offers a tremendous option to businesses to help them cut costs, reduce complexities, and streamline innovation.
NEM uses the Java programming language that makes it an easy project for developers to get involved with, unlike other projects such as Ethereum that use platform-specific programming languages like Solidity. The project’s tech infrastructure not only makes it less power-intensive compared to Bitcoin but also more scalable than its rival projects including Ethereum and NEO.
NEM’s tagline, “Smart Asset Blockchain, Built for Performance,” perfectly captures everything the project has to offer. Over the years, NEM’s active developer community has craftily addressed the notorious bottlenecks in the vast majority of blockchain solutions, The future looks promising for NEM as it continues to foster a trustless and blockchain-driven economy for tomorrow.
Source
submitted by charlesgwynne to BlockchainStartups [link] [comments]

Mining and Dogecoin - Some FAQs

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

You downloaded the core wallet

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

You downloaded a GPU/CPU miner

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

Mining Doge

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

Mining solo versus pool

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

Buying an ASIC

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

Making profit

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

Cloud Mining

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

Alternative coins

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

Folding at Home (Doge)

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

interested in starting my own baking node

hey guys. are there any developers/engineers on here, I'd like to ask and want to understand what is needed in terms of hardware to start a node? I'm sure i can rent a VPS and do the software configuration. but what piece of hardware does tezos utilize most to do its 'hashing'? eg bitcoins are mined using asic miners and other coins are more gpu or cpu intensive.
appreciate ur help guys
submitted by thesilentkill93 to tezos [link] [comments]

How are FPGAs used in trading?

A field-programmable gate array (FPGA) is a chip that can be programmed to suit whatever purpose you want, as often as you want it and wherever you need it. FPGAs provide multiple advantages, including low latency, high throughput and energy efficiency.
To fully understand what FPGAs offer, imagine a performance spectrum. At one end, you have the central processing unit (CPU), which offers a generic set of instructions that can be combined to carry out an array of different tasks. This makes a CPU extremely flexible, and its behaviour can be defined through software. However, CPUs are also slow because they have to select from the available generic instructions to complete each task. In a sense, they’re a “jack of all trades, but a master of none”.
At the other end of the spectrum sit application-specific integrated circuits (ASICs). These are potentially much faster because they have been built with a single task in mind, making them a “master of one trade”. This is the kind of chip people use to mine bitcoin, for example. The downside of ASICs is that they can’t be changed, and they cost time and money to develop. FPGAs offer a perfect middle ground: they can be significantly faster than a CPU and are more flexible than ASICs.
FPGAs contain thousands, sometimes even millions, of so-called core logic blocks (CLBs). These blocks can be configured and combined to process any task that can be solved by a CPU. Compared with a CPU, FPGAs aren’t burdened by surplus hardware that would otherwise slow you down. They can therefore be used to carry out specific tasks quickly and effectively, and can even process several tasks simultaneously. These characteristics make them popular across a wide range of sectors, from aerospace to medical engineering and security systems, and of course finance.
How are FPGAs used in the financial services sector?
Speed and versatility are particularly important when buying or selling stocks and other securities. In the era of electronic trading, decisions are made in the blink of an eye. As prices change and orders come and go, companies are fed new information from exchanges and other sources via high-speed networks. This information arrives at high speeds, with time measured in nanoseconds. The sheer volume and speed of data demands a high bandwidth to process it all. Specialized trading algorithms make use of the new information in order to make trades. FPGAs provide the perfect platform to develop these applications, as they allow you to bypass non-essential software as well as generic-purpose hardware.
How do market makers use FPGAs to provide liquidity?
As a market maker, IMC provides liquidity to buyers and sellers of financial instruments. This requires us to price every instrument we trade and to react to the market accordingly. Valuation is a view on what the price of an asset should be, which is handled by our traders and our automated pricing algorithms. When a counterpart wants to buy or sell an asset on a trading venue, our role is to always be there and offer, or bid, a fair price for the asset. FPGAs enable us to perform this key function in the most efficient way possible.
At IMC, we keep a close eye on emerging technologies that can potentially improve our business. We began working with FPGAs more than a decade ago and are constantly exploring ways to develop this evolving technology. We work in a competitive industry, so our engineers have to be on their toes to make sure we’re continuously improving.
What does an FPGA engineer do?
Being an FPGA engineer is all about learning and identifying new solutions to challenges as they arise. A software developer can write code in a software language and know within seconds whether it works, and so deploy it quickly. However, the code will have to go through several abstraction layers and generic hardware components. Although you can deploy the code quickly, you do not get the fastest possible outcome.
As an FPGA engineer, it may take two to three hours of compilation time before you know whether your adjustment will result in the outcome you want. However, you can increase performance at the cost of more engineering time. The day-to-day challenge you face is how to make the process as efficient as possible with the given trade-offs while pushing the boundaries of the FPGA technology.
Skills needed to be an FPGA engineer
Things change extremely rapidly in the trading world, and agility is the name of the game. Unsurprisingly, FPGA engineers tend to enjoy a challenge. To work as an FGPA engineer at a company like IMC, you have to be a great problem-solver, a quick learner and highly adaptable.
What makes IMC a great fit for an FPGA engineer?
IMC offers a great team dynamic. We are a smaller company than many larger technology or finance houses, and we operate very much like a family unit. This means that, as a graduate engineer, you’ll never be far from the action, and you’ll be able to make an impact from day one.
Another key difference is that you’ll get to see the final outcome of your work. If you come up with an idea, we’ll give you the chance to make it work. If it does, you’ll see the results put into practice in a matter of days, which is always a great feeling. If it doesn’t, you’ll get to find out why – so there’s an opportunity to learn and improve for next time.
Ultimately, working at IMC is about having skin in the game. You’ll be entrusted with making your own decisions. And you’ll be working side by side with super smart people who are open-minded and always interested in hearing your ideas. Market making is a technology-dependent process, and we’re all in this together.
Think you have what it takes to make a difference at a technology graduate at IMC? Check out our graduate opportunities page.
submitted by IMC_Trading to u/IMC_Trading [link] [comments]

The spot market impact of the Bitcoin halving - A detailed discussion

I am still working on my piece about what the true impact of a "halving" event in terms of the inflation of a cryptocurrency like Bitcoin is. That will come at some point in the future and will be furnishing with a model, rigorous analysis, and plots and things. In the meantime I have some thoughts that I would like to share in what should be about a 15 minute read. I will first present some general background, then a Bearish and Bullish perspective for the halving event. Finally I will share my own opinion about the impact of the halving.
----------------------------------------
Background:

Suppose that Bitcoin as a network has some fundamental fair value. The question about whether the current market respects Bitcoin's fair value is irrelevant, we are just concerned that a fair value for the network is coherent and exists. This discussion will largely focus on how the halving impacts fundamentals despite the opinion that the market might not always respect them.
The current supply is 18M coins, but in practice, is probably closer to about 13M coins given the coins that are believed to be lost / orphaned. In the next twelve years or so, another 3 million coins will be generated which will increase the actual realized supply by about 20%.
The Bitcoin network enjoys security from mining. We can quantify the price of forking Bitcoin and re-writing the ledger as the cost of obtaining a near-majority share of the network's hash power. If we assume that the mining ecosystem today is basically honest or at least interested in the long term success of Bitcoin, then the cost of an adversary (such as some nation-state) to come in and obtain a majority hash power in the network is proportional to how much Bitcoin pay's its miners.


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Bearish Perspective:

From the point of view of miners, an average block is earning about 0.08 BTC from transaction fees these days with a coinbase reward of 12.5 BTC. This means that miners obtain roughly 99.4% of their income from the coinbase reward that inflates the currency, and 0.6% of their income is from transaction fees. That means that the security of the network is being paid for by users who hold the currency via inflation, and not by people who use the currency for transacting.
When the block reward is reduced from 12.5BTC to 6.25BTC, a few things could happen for miners. Let us consider the different possible outcomes:

(1) The transaction fees stay roughly the same and so the total income of miners is approximately cut in half (in BTC terms). If the fiat price of Bitcoin remains constant, then this outcome implies that the security (in terms of USD) of the Bitcoin network would also roughly be cut in half.
(2) The total income of miners stays the same in terms of BTC. This implies that the transaction fees will increase by about a factor of 50x as the burden of funding the network's security shifts from those who hold the currency to those who use the currency. The long term vision of the protocol is to eventually fund the network entirely using transaction fees.
(3) The total income of miners in terms of BTC drops, but the transaction fees also increase in a combination of (1) and (2).

What gives Bitcoin fundamental value is up to debate, but it stands to reason that the network's value is positively correlated with both its application for payments as well as its security (with respect to censorship) and consistency. Outcome (1) for miners implies that the security of the network will decrease dramatically as a result of the halving event. Outcome (2) suggests that Bitcoin may become extremely expensive to interact with it as transaction fees will grow immensely in terms of BTC which should also negative impact fundamentals.


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Bullish Perspective:

(4) Perhaps the most obvious bullish argument for the halving is that inflation applies an economic pressure that decreases the value of each unit of currency and so decreasing inflation reduces this pressure. A lot of users choose to think of this pressure as coming from miners selling or "dumping" their coins on the market, but really this is just a matter of supply and demand. If the market capitalization of Bitcoin remains constant, i.e. the market has settled on some fair value for the network, then with each passing day a coin represents a smaller fractional ownership of the network and is therefore worth less.
(5) A bullish counter-point to outcome (1) raised above is that the fundamental value the network derives from mining and security may not be linear. For example, if we double the amount of money that the network spends on mining through new coin production and transaction fees, the network might not be twice as good. At some point, the security of the network is good enough and we have hit diminishing returns on increased spending on mining. If we are currently in that state, where Bitcoin is over-spending on mining, then decreasing that spending to reduce inflation should be a bullish thing.
(6) While not specifically related to the halving event, changes in fundamentals and deflation from lost currency compete with pressure from the inflation rate. Every day as users interact with Bitcoin, coins are lost due to death, faulty hardware, negligence and more. This puts a deflationary pressure on the currency as the effective supply is in constant decline. Additionally, aspects related to the adoption of Bitcoin, its normalization in our society, the regulatory structure surrounding it in major countries and more all contribute to the fundamentals and eventually price. It is possible that the price of Bitcoin is at a delicate tipping point where modest but constant improvements in fundamentals as well as deflation from lost currency is currently very carefully balanced by inflation, and a reduction in inflation will tip the markets into a bull-cycle.
(7) It is entirely possible that the price of Bitcoin is largely inconsiderate of fundamentals. The idea of a currency with a guaranteed fixed supply is both an easy narrative to understand and also emotionally compelling. Cryptocurrency market bull cycles are largely characterized by extreme cases of FOMO and so news about adjustments to inflation seem like a perfect catalyst.
(7.1) Another bullish argument is to recognize that (1) and (2) are both very real concerns that should negatively impact the fundamental value of Bitcoin, but that a bull cycle fueled by the narrative of decreased inflation would cause an increase in the USD price of Bitcoin, and so although miners may be compensated less in terms of BTC, their income in terms of USD may hold constant or even increase, leading to an increase in fundamental network value. This would be a "fake it till you make it" outcome for the halving.


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Neutral Perspective:

(8) In terms of who pays miners for the security that the Bitcoin network enjoys, there is a balance between holders, people who own the currency, and spenders, people who generate transactions on the network that pay fees. At the inception of Bitcoin, holders paid nearly all of the money responsible for funding mining with early transactions being accepted with no fee at all. Eventually, Bitcoin is programmed to operate with mining funded entirely by transaction fees with no inflation imposed upon holders. Somewhere in this spectrum of trade-offs there is an optimal configuration which maximizes the fundamental value of the network.
(9) It is possible that the network is in its most valuable configuration at the limit where transaction fees are entirely responsible for funding security. With each shift towards decreasing the contribution from holders we are inching closer and closer towards a more valuable network. These events will each correspond with an increase in market capitalization.
(10) It is also possible that the final configuration which funds mining exclusively by transaction fees is unstable. The seasonality of Bitcoin transactions along with the increased friction of payments may lead to a network with poor security properties which causes fundamentals and therefore market capitalization to decline. Miners already operate with an unprecedented amount of volatility and perhaps they really depend on their BTC income to be stable in order for their operating risks to make sense. Under these concerns it stands to reason that the most valuable configuration of Bitcoin has some fraction of miner income coming from inflation via new currency generation. Under this assumption, the value of Bitcoin should increase as we approach this configuration and decrease as we move further away, so then the open question is, "Is this optimal configuration in our past, present, or future?"

-----------------------------------------------------
My Perspective:

I am partial to (1) playing out, which is that the total revenue in terms of BTC paid to miners for each block after the halving will be only slightly more than half of what they are being paid currently. I believe that this negatively impacts fundamentals and I disagree with (5) in so far I do not believe that Bitcoin has hit significant diminishing returns in network security. I am not confident now that Bitcoin could withstand large scale attacks by nation states and I especially don't believe this in a future where executing such an attack is decreased by a factor of 2.

I am also partial to 6 and 7. I believe that generally speaking, the fundamentals of Bitcoin have been monotone increasing, meaning that things have really only gotten better for Bitcoin in the last few years. This does not need to be the case going forward, for example large government regulations could take away from fundamentals as well as attacks against the consistency of the network, but so far these things have not occurred. I also believe that the market for cryptocurrency is largely inconsiderate of fundamentals and so a narrative such as the halving which may not impact them could still be a catalyst for increases of 3x in spot markets. I believe that if this sort of scenario plays out, the effect on price is only temporary and will not be meaningful on longer time-frames (1-2 years). Trading cryptocurrency in the past few years has taught me to never be surprised that the market is not respecting fundamentals for months at a time and I have no idea what the time-frame of this event would look like.

I find (10) to also be intriguing. I actually believe that Bitcoin is currently pretty close to an ideal configuration in terms of where miner revenue comes from. I have done some light napkin math on the economics of different inflation configurations, and right now I am not in a position to say if this upcoming halving makes things better or worse, but I am confident that 4 halvings from now in 2032, the network configuration will be less favorable then it is now so we are not too far off.

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TLDR: The upcoming halving of Bitcoin may have a number of impacts on the Bitcoin network and therefore spot markets that are both bullish and bearish. My personal opinion is that fundamentals will decline while temporarily the markets improve via trading the halving narrative, but eventually will converge to the decreased fundamentals. I have no idea what the time-frame of this temporary event would look like.
-------------------------------------------------------
I would love to hear everyone's opinions about what aspects of the bearish and bullish scenario they see playing out as well as other arguments or points of view I neglected to mention.
submitted by Academic_Crypto to BitcoinMarkets [link] [comments]

Anyone still under the illusion of Microsoft having been transformed into a kinder, more mutually beneficial partner, please read this patent.

WO2020060606 - CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTDESCRIPTION
Before reading the following excerpts, keep this sequence of events in mind:
Master Slave (and we're not referring to HDDs here)
Step one: patent technology
Step two: sell slave IoT devices to consumers who readily purchase them especially after being promised that they'll be rewarded in cryotocurrency for their data.
Step three: collect data via Azure on unsuspecting human subjects' fMRI, EEG, body temperatures, EKG, sleep data, digitized health care information, consumer purchasing habits, reading and viewing preferences, social media activity and correlate with activities performed (tasks).
Step four: Use data to refine AI to profile human behavior, predict behavior and refine mind reading capabilities.
This article is actually incorporated in the patent!
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
Step five: Institute centralized global cryptocurrency financial system with no other alternatives in which to transact legally.
https://www.reddit.com/Bitcoin/comments/4nag4b/1988_economist_cover_predicting_a_world_currency/
https://www.economist.com/finance-and-economics/1998/09/24/one-world-one-money
Step six: To understand step six, Read George Orwell's "1984" or review the concept of an individual's freedoms being based not on the concept of natural rights but on their social credit scores.
Thank you Microsoft, Google, Apple, Amazon, Facebook.
Now the patent excerpts:
CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
BACKGROUND [0001] A virtual currency (also known as a digital currency) is a medium of exchange implemented through the Internet generally, not tied to a specific government-backed “flat” (printed) currency such as the U.S. dollar or the Euro, and typically designed to allow instantaneous transactions and borderless transfer of ownership. One example of virtual currency is cryptocurrency, wherein cryptography is used to secure transactions and to control the creation of new units. [0002] Several cryptocurrencies exist. Among these, the most well known is a blockchain-based cryptocurrency. Most blockchain-based cryptocurrency is decentralized in the sense that it has no central point of control.
However, blockchain-based cryptocurrency can also be implemented in a centralized system having a central point of control over the cryptocurrency.
Bitcoin is one of the examples of blockchain-based cryptocurrency. It is described in a 2008 article by Satoshi Nakamoto, named“Bitcoin: A peer-to-Peer Electronic Cash System”.
[0003] A blockchain is a data structure that stores a list of transactions and can be thought of as a distributed electronic ledger that records transactions between source identifier(s) and destination identifier(s). The transactions are bundled into blocks and every block (except for the first block) refers back to or is linked to a prior block in the blockchain. Computer resources (or nodes, etc.) maintain the blockchain and cryptographically validate each new block and the transactions contained in the corresponding block. This validation process includes computationally solving a difficult problem that is also easy to verify and is sometimes called a“proof-of-work”. This process is referred to as“mining”. The mining may be a random process with low probability so that a lot of trial and error is required to solve a computationally difficult problem. Accordingly, the mining may require enormous amounts of computational energy. [0004] It is with respect to these and other general considerations that the following embodiments have been described. Also, although relatively specific problems have been discussed, it should be understood that the embodiments should not be limited to solving the specific problems identified in the background.
SUMMARY
[0005] Some exemplary embodiments of the present disclosure may use human body activity associated with a task provided to a user as a solution to“mining” challenges in cryptocurrency systems. For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process. Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously. Accordingly, certain exemplary embodiments of the present disclosure may reduce computational energy for the mining process as well as make the mining process faster.
[0006] Systems, methods, and hardware aspects of computer readable storage media are provided herein for a cryptocurrency system using human body activity data. According to various embodiments of the present disclosure, a server may provide a task to a device of a user which is communicatively coupled to the server. A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user. A cryptocurrency system communicatively coupled to the device of the user may verify whether or not the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.
[0007] Examples are implemented as a computer process, a computing system, or as an article of manufacture such as a device, computer program product, or computer readable medium. According to one aspect, the computer program product is a computer storage medium readable by a computer system and encoding a computer program comprising instructions for executing a computer process. [0008] This summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
decentralized cryptocurrency networks or databases.
[0021] FIG. 1 illustrates an example environment 100 in which some exemplary embodiments of the present disclosure may be practiced. The example environment 100 includes, but is not limited to, at least one of task server 110, communication network 120, user device 130, sensor 140, and cryptocurrency system 150. [0022] Task server 110 may provide one or more tasks to user device 130 over communication network 120. For example, task server 110 may be at least one of a web server delivering or serving up web pages, an application server handling application operations between users and applications or databases, a cloud server, a database server, a file server, a service server, a game server implementing games or services for a game, and a media server delivering media such as streaming video or audio. The tasks provided by task server 110 will be discussed in more detail below.
[0023] Alternatively, cryptocurrency system 150 may provide one or more tasks to user device 130. For example, in a decentralized cryptocurrency network, the tasks may be proposed to user device 130 by miners (e.g. compute resources or nodes 210 of FIG. 2). In another example, in a centralized cryptocurrency system, a cryptocurrency server may send the tasks to user device 130.
[0024] Communication network 120 may include any wired or wireless connection, the internet, or any other form of communication. Although one network 120 is identified in FIG. 1, communication network 120 may include any number of different communication networks between any of the server, devices, resource and system shown in FIGS. 1 and 2 and/or other servers, devices, resources and systems described herein. Communication network 120 may enable communication between various computing resources or devices, servers, and systems. Various implementations of communication network 120 may employ different types of networks, for example, but not limited to, computer networks, telecommunications networks (e.g., cellular), mobile wireless data networks, and any combination of these and/or other networks. [0025] User device 130 may include any device capable of processing and storing data/information and communicating over communication network 120. For example, user device 130 may include personal computers, servers, cell phones, tablets, laptops, smart devices (e.g. smart watches or smart televisions). An exemplary embodiment of user device 130 is illustrated in FIG. 6.
[0026] Sensor 140 may be configured to sense the body activity of user 145. As illustrated in FIG. 1, sensor 140 may be a separate component from user device 130 and be operably and/or communicatively connected to user device 130. Alternatively, sensor 140 may be included and integrated in user device 130. For example, user device 130 may be a wearable device having sensor 140 therein. The sensor 140 may transmit information/data to user device 130. Sensor 140 may include, for example, but not limited to, functional magnetic resonance imaging (fMRI) scanners or sensors, electroencephalography (EEG) sensors, near infrared spectroscopy (NIRS) sensors, heart rate monitors, thermal sensors, optical sensors, radio frequency (RF) sensors, ultrasonic sensors, cameras, or any other sensor or scanner that can measure or sense body activity or scan human body. For instance, the fMRI may measure body activity by detecting changes associated with blood flow. The fMRI may use a magnetic field and radio waves to create detailed images of the body (e.g. blood flow in the brain to detect areas of activity). The material (http://news.berkely.edu/20l l/09/22/brain-movies/) shows one example of how the fMRI can measure brain activity associated with visual information and generate image data.
[0027] Cryptocurrency system 150 may include one or more processors for processing commands and one or more memories storing information in one or more cryptocurrency data structures. In some embodiments, cryptocurrency system 150 may be a centralized cryptocurrency system or network, for example, but not limited to, a server which may be privately run by a third party entity or the same entity that is running the task server 110. In other embodiments, cryptocurrency system 150 may be a publically accessible network system (e.g., a distributed decentralized computing system).
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
WO2020060606 - CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTDESCRIPTION
Applicants * MICROSOFT TECHNOLOGY LICENSING, LLC[US/US]; One Microsoft Way Redmond, Washington 98052-6399, US
CRYPTOCURRENCY SYSTEM USING BODY ACTIVITY DATA
BACKGROUND [0001] A virtual currency (also known as a digital currency) is a medium of exchange implemented through the Internet generally, not tied to a specific government-backed “flat” (printed) currency such as the U.S. dollar or the Euro, and typically designed to allow instantaneous transactions and borderless transfer of ownership. One example of virtual currency is cryptocurrency, wherein cryptography is used to secure transactions and to control the creation of new units. [0002] Several cryptocurrencies exist. Among these, the most well known is a blockchain-based cryptocurrency. Most blockchain-based cryptocurrency is decentralized in the sense that it has no central point of control.
However, blockchain-based cryptocurrency can also be implemented in a centralized system having a central point of control over the cryptocurrency.
Bitcoin is one of the examples of blockchain-based cryptocurrency. It is described in a 2008 article by Satoshi Nakamoto, named“Bitcoin: A peer-to-Peer Electronic Cash System”.
[0003] A blockchain is a data structure that stores a list of transactions and can be thought of as a distributed electronic ledger that records transactions between source identifier(s) and destination identifier(s). The transactions are bundled into blocks and every block (except for the first block) refers back to or is linked to a prior block in the blockchain. Computer resources (or nodes, etc.) maintain the blockchain and cryptographically validate each new block and the transactions contained in the corresponding block. This validation process includes computationally solving a difficult problem that is also easy to verify and is sometimes called a“proof-of-work”. This process is referred to as“mining”. The mining may be a random process with low probability so that a lot of trial and error is required to solve a computationally difficult problem. Accordingly, the mining may require enormous amounts of computational energy.
[0004] It is with respect to these and other general considerations that the following embodiments have been described. Also, although relatively specific problems have been discussed, it should be understood that the embodiments should not be limited to solving the specific problems identified in the background.
SUMMARY
[0005] Some exemplary embodiments of the present disclosure may use human body activity associated with a task provided to a user as a solution to“mining” challenges in cryptocurrency systems. For example, a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process. Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously. Accordingly, certain exemplary embodiments of the present disclosure may reduce computational energy for the mining process as well as make the mining process faster.
[0006] Systems, methods, and hardware aspects of computer readable storage media are provided herein for a cryptocurrency system using human body activity data. According to various embodiments of the present disclosure, a server may provide a task to a device of a user which is communicatively coupled to the server. A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user. A cryptocurrency system communicatively coupled to the device of the user may verify whether or not the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified.
[0007] Examples are implemented as a computer process, a computing system, or as an article of manufacture such as a device, computer program product, or computer readable medium. According to one aspect, the computer program product is a computer storage medium readable by a computer system and encoding a computer program comprising instructions for executing a computer process.
[0008] This summary is provided to introduce a selection of concepts in a simplified form that are further described below in the Detailed Description. This summary is not intended to identify key features or essential features of the claimed subject matter, nor is it intended to be used to limit the scope of the claimed subject matter.
decentralized cryptocurrency networks or databases. [0021] FIG. 1 illustrates an example environment 100 in which some exemplary embodiments of the present disclosure may be practiced. The example environment 100 includes, but is not limited to, at least one of task server 110, communication network 120, user device 130, sensor 140, and cryptocurrency system 150.
[0022] Task server 110 may provide one or more tasks to user device 130 over communication network 120. For example, task server 110 may be at least one of a web server delivering or serving up web pages, an application server handling application operations between users and applications or databases, a cloud server, a database server, a file server, a service server, a game server implementing games or services for a game, and a media server delivering media such as streaming video or audio. The tasks provided by task server 110 will be discussed in more detail below.
[0023] Alternatively, cryptocurrency system 150 may provide one or more tasks to user device 130. For example, in a decentralized cryptocurrency network, the tasks may be proposed to user device 130 by miners (e.g. compute resources or nodes 210 of FIG. 2). In another example, in a centralized cryptocurrency system, a cryptocurrency server may send the tasks to user device 130.
[0024] Communication network 120 may include any wired or wireless connection, the internet, or any other form of communication. Although one network 120 is identified in FIG. 1, communication network 120 may include any number of different communication networks between any of the server, devices, resource and system shown in FIGS. 1 and 2 and/or other servers, devices, resources and systems described herein. Communication network 120 may enable communication between various computing resources or devices, servers, and systems. Various implementations of communication network 120 may employ different types of networks, for example, but not limited to, computer networks, telecommunications networks (e.g., cellular), mobile wireless data networks, and any combination of these and/or other networks.
[0025] User device 130 may include any device capable of processing and storing data/information and communicating over communication network 120. For example, user device 130 may include personal computers, servers, cell phones, tablets, laptops, smart devices (e.g. smart watches or smart televisions).
An exemplary embodiment of user device 130 is illustrated in FIG. 6.
[0026] Sensor 140 may be configured to sense the body activity of user 145. As illustrated in FIG. 1, sensor 140 may be a separate component from user device 130 and be operably and/or communicatively connected to user device 130. Alternatively, sensor 140 may be included and integrated in user device 130. For example, user device 130 may be a wearable device having sensor 140 therein. The sensor 140 may transmit information/data to user device 130. Sensor 140 may include, for example, but not limited to, functional magnetic resonance imaging (fMRI) scanners or sensors, electroencephalography (EEG) sensors, near infrared spectroscopy (NIRS) sensors, heart rate monitors, thermal sensors, optical sensors, radio frequency (RF) sensors, ultrasonic sensors, cameras, or any other sensor or scanner that can measure or sense body activity or scan human body. For instance, the fMRI may measure body activity by detecting changes associated with blood flow. The fMRI may use a magnetic field and radio waves to create detailed images of the body (e.g. blood flow in the brain to detect areas of activity). The material (http://news.berkely.edu/20l l/09/22/brain-movies/) shows one example of how the fMRI can measure brain activity associated with visual information and generate image data.
[0027] Cryptocurrency system 150 may include one or more processors for processing commands and one or more memories storing information in one or more cryptocurrency data structures. In some embodiments, cryptocurrency system 150 may be a centralized cryptocurrency system or network, for example, but not limited to, a server which may be privately run by a third party entity or the same entity that is running the task server 110. In other embodiments, cryptocurrency system 150 may be a publically accessible network system (e.g., a distributed decentralized computing system).
https://news.berkeley.edu/2011/09/22/brain-movies/ Scientists use brain imaging to reveal the movies in our mind
submitted by snowboardnirvana to MVIS [link] [comments]

Bitcoin Affiliate Network - Miner Configuration Configuring GPU Mining Bitcoin Avalon 6 Bitcoin Mining Hardware Setup Which Hardware Can be Used For BitCoin Mining Hindi/Urdu How to Build a Crypto Mining Rig - YouTube

Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009. At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 ... Hohe Kurse von Kryptowährungen wie Bitcoin, Ethereum und Zcash machen stromfressendes Mining mit Grafikkarten wieder rentabel - ein Geschäft auch für Hersteller von Mainboards und Zubehör. When you are mining, the same values that apply for Bitcoin mining will apply to any SHA-256 coin mining. The same is true for Litecoin and all other Scrypt based coins. We currently like the ATI HD 7950 card’s. We feel they currently offer the best bang for your buck if you are operating on a budget. Of course, you can always replace your graphics card for a better one in the future. Bitcoin Mining-Hardware (ASICs) sind hochspezialisierte Computer, die zum Mining von Bitcoins verwendet werden. Die ASIC-Industrie ist komplex und wettbewerbsfähig geworden. Mining-Hardware ist nur noch dort zu finden, wo es billigen Strom gibt. Als Satoshi Bitcoin veröffentlichte, wollte er, dass es auf Computer-CPUs abgebaut wird. Allerdings: Unternehmerische Programmierer erkannten bald ... The right mining hardware is just part of the story. If you're serious about mining Bitcoin or other cryptocurrencies, check out our guide to what you need to know cryptocurrency mining.

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Bitcoin Affiliate Network - Miner Configuration

How to BitCoin mine using fast ASIC mining hardware - Duration: 27:15. ... 1TH Dragon Bitcoin Miner (ASIC) - Basic Overview, Configuration & Performance Video - Duration: 6:10. Bitcoin Miner's ... Login to your Bitcoin miner, in this example I use a Antminer S4. Go to the pool configurations section of your miner. For the pool we suggest you use the "geo" stratum's stratum+tcp://geo ... Which Hardware Can be Used For BitCoin Mining Hindi/Urdu Which is Better Aisc or GPU Which Graphic card is better for bitcoin mining bitcoin mining hardware ,bitcoin mining, ,bitcoin miner, mining ... Learn how to mine your very own Cryptocurrency! In the video, we go over the tech you will need and how to put all the pieces together. There's many ways to ... How to Install & Configure printer, Network Printer - Duration: ... How to Mine QuarkCoins without Hardware for FREE - Duration: ... Manni's GPU Bitcoin Mining Rig Farm 16GH/s - Duration: ...

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