What Is Coin Burn In Cryptocurrency: A Beginner's Guide
Proof–of–Stake (PoS) – BitcoinWiki
CelesOS Research Institute丨DPoW consensus mechanism-combustible mining and voting
The token economy and the blockchain complement each other, while at the same time, the consensus mechanism forms the basis of the blockchain, whom constitutes the basic technical framework of the token economy. The mainstream blockchain, like Bitcoin, Ethereum, and EOS have all compromised on certain aspects of the "impossible triangle" features. https://preview.redd.it/8ocq98swpt551.png?width=554&format=png&auto=webp&s=37ab0235c07b450217e22531ad5291d5b4bcbbee Bitcoin, as a decentralized digital currency, has sacrificed performance to meet the design requirements of decentralization and security, rendering it the target of highest attacking cost among all PoW public chains. The ASIC mining machines updates continually and new versions launch, both can continuously improve the computing power of the entire network. Ethereum 2.0 will use a proof of stake (PoS) consensus mechanism. On the Ethereum network, money can be transfered and smart contracts can be operated, presenting a more complicated application scenario. However, due to its low performance, Ethereum is more prone to get congested. EOS, as a blockchain application platform, is often suspected of being centralized. EOS uses a delegated proof of stake (DPoS) consensus mechanism. Having 21 super nodes responsible for bookkeeping and block generation, the EOS main network can handle more than 4,000 TPS now. However, due to its small number of nodes, it’s one of the three major public chains that are most easily questioned by the outside world on the "decentralization" feature. An inefficient blockchain will only be a game in the laboratory, and an efficient blockchain without decentralization will only be taken advantage of by big players. New generation consensus algorithm DPoW Is there any consensus mechanism that can achieve a better balance between decentralization and efficiency, and can give miners incentives to invest in hardware resources? If we separate the two acts of "acquiring accounting rights" and "receiving block rewards", the above dilemma can be solved. By separating the above two, DPoW has finally achieved the effect of balancing efficiency and centralization. https://preview.redd.it/www3h8swpt551.png?width=731&format=png&auto=webp&s=c0bf49a42751a9501828d0294bc9280f856c441e Drawing on the design concept and operating experience of the preceding consensus mechanisms, DPoW is a new-generation consensus mechanism formed based on PoB and DPoS. Before explaining DPoW, it’s necessary to introduce PoB. PoB (Proof of Burn) is called the burning proof mechanism. (Source: https://en.bitcoin.it/wiki/Proof_of_burn)) https://preview.redd.it/payq2duzpt551.png?width=554&format=png&auto=webp&s=4b8e9181d95d31a8d5b75a7acab27c851a4a3a4d PoB is a way to vote who has a commitment to the leadership of the network by burning tokens possessed. The greater the number of tokens burned, the higher the probability of gaining network leadership. PoB is a method of distributed consensus and an alternative method of proof-of-work mechanism. It can also be used to guide a cryptocurrency. https://preview.redd.it/4lmhs1i1qt551.png?width=554&format=png&auto=webp&s=e8c50b1638d8ec8d8a2dac2e842b50a2979984fb In the DPoW-based blockchain, the miner's mining reward is no longer a token, but a "wood" that can be burned-burning wood. Through the hash algorithm, miners use their own computing power to get the corresponding non-tradable wood after proving their workload eventually. When the wood has accumulated to a certain amount, it can be burnt in the burning site. DPoW technical solutions Voting with computing power is the biggest innovation of the present invention. It uses the proof of work of the PoW algorithm to replace the stakes as votes, yet retains the BFT-DPoS block generation mechanism. Specific steps are as follow:
POW question acquisition
Obtain the question of proof of work. The proof of work of the present invention is to perform a Hash operation on a PoW problem; the questions is:
target = hash(block_id + account) ^ difficulty
POW question answering
A mathematical hash operation of a random number (nonce) is performed on the question, and if the hash value obtained is less than a certain value, the question is answered; Question answering process:
Voting is to cast the specific answers to the question to the candidate BP. By such, it’s submitted to the blockchain and counted to the blockchain's status database; within an election period, the maximum value of the answer that each voter can calculate is N, and each answer can only be voted to one candidate BP, and the number of votes that can be cast is N. The information and process that voting requires:
Answer to the question
Voting objects (candidate BP)
Verify that the vote is valid
After verification, it will be credited to BP
4. Count the votes At the end of an election period, votes are counted and sorted top-down according to the number of votes under the name of the candidate BP. The top X candidate BPs are selected and inserted into the BP list, and the block generating order of the selected BP is written to the blockchain status database. If X is the number of BPs generated by the system, namely a multiple of 3, it will be set in the genesis block and cannot be changed.
The DPoW block generation mechanism is the same as BFT-DPoS. The elected BP negotiates a block generation ownership order based on its own network resource status. When each BP node has block generation rights, the block reward is a fixed reward for each effective irreversible block. At the same time, the blocks that have been generated use the BFT signature mechanism. After getting 2/3 BP's signature, the block will become an irreversible block. DPoW’s advantage in balance Compared with existing technical solutions, the DPoW consensus protocol has the following feature.
When the stock of burning wood is large, the nodes in the system tend to burn burning wood to vote instead of logging through computing power, which is similar to the DPoS under this situation.
When the stock of burning wood is few, the nodes in this system tend to log to obtain burning wood for voting, which is similar to PoW under this situation, presenting the feature of decentralization. In order to ensure the high-speed operation of the system and attract ticket sources, BP will maintain a stable investment in computer resources to keep the system highly efficient.
Choosing to vote by logging or burning wood depends on the nodes’ own optimal choice, resulting in constant choosing between the two consensus mechanisms of PoW and DPoS. This will make nodes tend to choose PoW when decentralization is needed, and to choose DPoS when efficiency is needed. For a system, whether it is decentralized does not depend on whether each block needs to be decentralized. The key is whether the system can provide a channel to decentralization and fair competition when needed. As long as the channel is reasonable, the system will be considered decentralized. By decoupling vote by logging and block generation, they can be done asynchronously to achieve the effects of decentralization and high efficiency. Learning and updating the preceding practices in blockchain technology, DPoW manages to achieve both decentralization and efficiency, as “having the cake and eating it”. 📷Website https://www.celesos.com/ 📷Telegram https://t.me/celeschain 📷Twitter https://twitter.com/CelesChain 📷Reddit https://www.reddit.com/useCelesOS 📷Medium https://medium.com/@celesos 📷Facebook https://www.facebook.com/CelesOS1 📷Youtube https://www.youtube.com/channel/UC1Xsd8wU957D-R8RQVZPfGA
There have been many recent posts about the blackmail email scam, so I have written this post and will keep it stickied until the posts about the scam die down. If you are reading this because you have received one of these emails and you are worried, you can stop worrying. The blackmail email scam is a spam campaign that is sent out to thousands of addresses at a time. In al cases, the threats are lies and you do not have anything to worry about. In many cases, the emails will contain information about you such as your name, part or all of your phone number, and your password.The emails may also look like they were sent from your own email address. The data is gathered from data breaches, and if the email looks like it came from your account that is due to email spoofing. You can use the service Have I Been Pwned? to see if you are in any publicly known data breaches. If you receive an email that contains a password that you currently use, you should immediately change that. Current recommended password guidelines say that you should use a different, complex password for every account. You can generate and save passwords using a password manager for convenience. You should also be using two factor authentication using an app like Google Authenticator instead of receiving codes through SMS. Here are some news articles about this scam. Here is a story from Brian Krebs, and here is a story from the New York Times. Below are a few examples, but if you receive an email that is similar but not the same as the examples you see, that does not matter and does not mean that the email is real. The spammers constantly switch up their templates in order to bypass spam filters, so it's normal to receive an email that hasn't yet been posted online. Hey there So I am the hacker who cracked your email address and device a few weeks back. You typed in your pwd on one of the sites you visited, and I intercepted that. Here is your password from (redacted) upon time of compromise: (redacted) Obviously you can can change it, or even already changed it. However it won't really matter, my malware modified it every time. Do not really try to contact me personally or find me. Via your email, I uploaded harmful code to your Operation System. I saved your entire contacts together with buddies, fellow workers, loved ones along with a entire history of visits to the World wide web resources. Also I set up a Virus on your system. You aren't my only target, I generally lock computers and ask for a ransom. But I was hit by the web pages of romantic material that you normally stop by. I am in shock of your own fantasies! I have never ever noticed anything at all like this! Consequently, when you had enjoyment on piquant web-sites (you know what I am talking about!) I made screenshot with utilizing my program from your camera of yours device. There after, I put together them to the content of the currently viewed site. There will certainly be giggling when I send these pics to your connections! Nevertheless I am certain you do not need this. Therefore, I expect to have payment from you for my silence. I feel $859 is an satisfactory price for this! Pay with Bitcoin. My Bitcoin wallet is xxxxxxxxxxxxxxxxxxxxxxxxxxxxx If you do not really understand how to do this - submit in to Google 'how to transfer money to the bitcoin wallet'. It is easy. Immediately after getting the given amount, all your files will be right away destroyed automatically. My computer virus will also get rid of itself through your operating-system. My Trojan viruses have auto alert, so I know when this specific e mail is read. I give you 2 days (48 hours) to make a payment. If this does not occur - just about all your associates will get outrageous pictures from your darkish secret life and your system will be blocked as well after two days. Do not end up being foolish! Police or buddies won't support you for sure ... P.S I can provide you with recommendation for the future. Do not type in your security passwords on risky web pages. I wish for your wisdom. Bon voyage. Your computer device was attacked by the malicious app . Whats the trouble? I placed my malicious agent on a erotica portal, you clicked on this data and promptly adjusted the malware to your computer . The hostile program made your selfie-camera shooting and I enjoy the videotape with you dash your doodle. In next 5 hours this hostile program copied all your contacts. Right now, I receive your all your contact information and video with you masturbating, and now if you wish me to destroy all the data affect payment 350 $USD in BTC digital currency. Other way I want forward that this record to all your contacts . I forward you my Bitcoin wallet - XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX You possess 27 hours after reading. In a case if I possess transaction I am going to undo that this record once for all. I beg pardon for my mistakes- I live in China . P.S. this postal address, I have thieved it Good day, If you had been more careful while caressing yourself, I wouldn't worry you. I don't think that playing with yourself is very bad, but when all your colleagues, relatives and friends get a video recording of it - it is definitely bad for you. I placed malicious software on a website for adults (with porn) which was visited by you. When the target taps on a play button, your device starts recording the screen and all cameras on your device begin to work. Moreover, my program allows a remote desktop connection with keylogger function from the device, so I could collect all contacts from your e-mail, messengers and other social networks. I'm writing on this e-mail cuz it's your working address, so you must check it. I suppose that three hundred twenty usd is good enough for this little misstep. I made a split screen video (recorded from your screen (u have interesting tastes ) and camera ooooooh... its awful AF) So it's your choice. If you want me to erase this compromising evidence, use my Bitcoin wallet address: XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX You have one day after opening my message; I put a special tracking pixel in it, so when you will open it I will see. If you want me to show you the proofs, reply to this message and I will send my creation to five contacts that I got from your contacts. P.S. You can try to complain to the police, but I don't think that they can help, the investigation will last for 5 month- I'm from Ukraine - so I dgf lmao Hey there So I am the hacker who cracked your email address and device a few weeks back. You typed in your pwd on one of the sites you visited, and I intercepted that. Here is your password from (redacted) upon time of compromise: (redacted) Obviously you can can change it, or even already changed it. However it won't really matter, my malware modified it every time. Do not really try to contact me personally or find me. Via your email, I uploaded harmful code to your Operation System. I saved your entire contacts together with buddies, fellow workers, loved ones along with a entire history of visits to the World wide web resources. Also I set up a Virus on your system. You aren't my only target, I generally lock computers and ask for a ransom. But I was hit by the web pages of romantic material that you normally stop by. I am in shock of your own fantasies! I have never ever noticed anything at all like this! Consequently, when you had enjoyment on piquant web-sites (you know what I am talking about!) I made screenshot with utilizing my program from your camera of yours device. There after, I put together them to the content of the currently viewed site. There will certainly be giggling when I send these pics to your connections! Nevertheless I am certain you do not need this. Therefore, I expect to have payment from you for my silence. I feel $859 is an satisfactory price for this! Pay with Bitcoin. My Bitcoin wallet is xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx If you do not really understand how to do this - submit in to Google 'how to transfer money to the bitcoin wallet'. It is easy. Immediately after getting the given amount, all your files will be right away destroyed automatically. My computer virus will also get rid of itself through your operating-system. My Trojan viruses have auto alert, so I know when this specific e mail is read. I give you 2 days (48 hours) to make a payment. If this does not occur - just about all your associates will get outrageous pictures from your darkish secret life and your system will be blocked as well after two days. Do not end up being foolish! Police or buddies won't support you for sure ... P.S I can provide you with recommendation for the future. Do not type in your security passwords on risky web pages. I wish for your wisdom. Bon voyage. I Have YOUR code. I rule phone xxxx I SENT this newsletter from YOUR ACCOUNT. I look your device. I am in daze of your sex act fantasies! I made backup your contacts and files. I made screenshots from your digital camera of yours device. I want 888 $ to my (Bitcoin My )Bitcoin currency xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx If YOU don't transaction )Bitcoin. I share my quake of your golden age of porn fantasies with your contacts! If you do not know how to do this - enter into Google/ =how to transfer money to a Bitcoin& wallet- Time 30 hours. This excellent post as Subway & Dairy Queen. Hello! I'm a programmer who cracked your email account and device about half year ago. You entered a password on one of the insecure site you visited, and I catched it. Of course you can will change your password, or already made it. But it doesn't matter, my rat software update it every time. Please don't try to contact me or find me, it is impossible, since I sent you an email from your email account. Through your e-mail, I uploaded malicious code to your Operation System. I saved all of your contacts with friends, colleagues, relatives and a complete history of visits to the Internet resources. Also I installed a rat software on your device and long tome spying for you. You are not my only victim, I usually lock devices and ask for a ransom. But I was struck by the sites of intimate content that you very often visit. I am in shock of your reach fantasies! Wow! I've never seen anything like this! I did not even know that SUCH content could be so exciting! So, when you had fun on intime sites (you know what I mean!) I made screenshot with using my program from your camera of yours device. After that, I jointed them to the content of the currently viewed site. Will be funny when I send these photos to your contacts! And if your relatives see it? BUT I'm sure you don't want it. I definitely would not want to ... I will not do this if you pay me a little amount. I think $877 is a nice price for it! I accept only Bitcoins. My BTC wallet: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx If you have difficulty with this - Ask Google "how to make a payment on a bitcoin wallet". It's easy. After receiving the above amount, all your data will be immediately removed automatically. My virus will also will be destroy itself from your operating system. My Trojan have auto alert, after this email is looked, I will be know it! You have 2 days (48 hours) for make a payment. If this does not happen - all your contacts will get crazy shots with your dirty life! And so that you do not obstruct me, your device will be locked (also after 48 hours) Do not take this frivolously! This is the last warning! Various security services or antiviruses won't help you for sure (I have already collected all your data). Here are the recommendations of a professional: Antiviruses do not help against modern malicious code. Just do not enter your passwords on unsafe sites! I hope you will be prudent. Bye. Same as before but they increased the amount I got an order from someone to kill you and your family but I am far from your house if you still love your family, I ask you to transfer 0.1 BTC to me. If you report this email, I will immediately kill your family. FORWARD THIS MAIL TO WHOEVER IS IMPORTANT IN YOUR COMPANY AND CAN MAKE DECISION! We Hacked network. We Caught Communications. We Backuped DATA And DOCUMENTS. We send this mail to you in YOUR account. After analyzing documents. We found Illegal activity - HIDING TAXES. That we want? I want two (2) Bitcoin To wallet Bitcoin. 1Dz7DbQmE7SNm3C5mb9syPcctgZECcCEbL That we do if you don't pay bitcoin? We send these Documents and Proofs to your Tax Department. And in this time Your network will be DDoS. Read that in this link https://en.wikipedia.org/wiki/Denial-of-service\_attack We are locking your operation system. Our friends, WannaCry, ready start and waiting command. Read that in this link https://en.wikipedia.org/wiki/WannaCry\_ransomware\_attack This is our guarantee, that you don't clean evidence and building a protection policy. If you don't pay by in 7 days, attack will start. Attack including. 1.DDOS 2.Locking operation system 3.Sending all documents in Tax Departament Yours service going down permanently and price to stop will increase to Four (4) BTC, Price will go up one (1) BTC for every day of the attack. This is not a joke. Our attacks are extremely powerful - sometimes over 1 Tbps per second. And we pass CloudFlare and others remote protections! So, no cheap protection will help. Prevent this problem all with just Two (2) BTC Pay to our wallet Bitcoin. 1Dz7DbQmE7SNm3C5mb9syPcctgZECcCEbL AND YOU WILL NEVER AGAIN HEAR FROM US! If you read, hear fake-experts and assure yourself that this is not true. Remember that they are not responsible and your life don't important him. Their business is to speak and make money. Your business to do and make money and stay freedom. All mistakes in text we do specily. Bitcoin is anonymous, nobody will ever know you cooperated. Time started after open this mail. To track the reading of a message and the actions in it, I use the facebook pixel. Read that in this link Hello! I am a hacker who has access to your operating system. I also have full access to your account. I've been watching you for a few months now. The fact is that you were infected with malware through an adult site that you visited. If you are not familiar with this, I will explain. Trojan Virus gives me full access and control over a computer or other device. This means that I can see everything on your screen, turn on the camera and microphone, but you do not know about it. I also have access to all your contacts and all your correspondence. Why your antivirus did not detect malware? Answer: My malware uses the driver, I update its signatures every 4 hours so that your antivirus is silent. I made a video showing how you satisfy yourself in the left half of the screen, and in the right half you see the video that you watched. With one click of the mouse, I can send this video to all your emails and contacts on social networks. I can also post access to all your e-mail correspondence and messengers that you use. If you want to prevent this, transfer the amount of $500 to my bitcoin address (if you do not know how to do this, write to Google: "Buy Bitcoin"). My bitcoin address (BTC Wallet) is: x After receiving the payment, I will delete the video and you will never hear me again. I give you 50 hours (more than 2 days) to pay. I have a notice reading this letter, and the timer will work when you see this letter. Filing a complaint somewhere does not make sense because this email cannot be tracked like my bitcoin address. I do not make any mistakes. If I find that you have shared this message with someone else, the video will be immediately distributed. Best regards. Hey, I know your password is: Your computer was infected with my malware, RAT (Remote Administration Tool), your browser wasn't updated / patched, in such case it's enough to just visit some website where my iframe is placed to get automatically infected, if you want to find out more - Google: "Drive-by exploit". My malware gave me full access and control over your computer, meaning, I got access to all your accounts (see password above) and I can see everything on your screen, turn on your camera or microphone and you won't even notice about it. I collected all your private data and I was spying on you, I RECORDED (through your webcam) embarrassing moments of you, you know what I mean! After that I removed my malware to not leave any traces. I can publish all your private data everywhere and I can send the videos to all your contacts, post it on social network, publish it on the whole web, including the darknet, where the sick people are! Only you can prevent me from doing this and only I can help you out in this situation. Transfer exactly 1200$ with the current bitcoin (BTC) price to my bitcoin address. It's a very good offer, compared to all that horrible shit that will happen if I publish everything! You can easily buy bitcoin here: www.paxful.com , www.coingate.com , www.coinbase.com , or check for bitcoin ATM near you, or Google for other exchanger. You can send the bitcoin directly to my address, or create your own wallet first here: www.login.blockchain.com/en/#/signup/ , then receive and send to mine. My bitcoin address is: Copy and paste my address, it's (cAsE-sEnSEtiVE) I give you 3 days time to transfer the bitcoin! As I got access to this email account, I will know if this email has already been read. If you get this email multiple times, it's to make sure you read it and after payment you can ignore it. After receiving the payment, I will remove everything and you can life your live in peace like before. Next time update your browser before browsing the web! НЕLLО! I’m going to cut to thе chӓsе.I know ӓbout thе sеcrеt you ӓrе kееping from your wifе.Morе importӓntly,I hӓvе еvidеncе of whӓt you hӓvе bееn hiding.I won’t go into thе spеcifics hеrе in cӓsе your wifе intеrcеpts this,but you know whӓt I ӓm tӓlking ӓbout. You don’t know mе pеrsonӓlly ӓnd nobody hirеd mе to look into you.Nor did I go out looking to burn you.It’s just your bӓd luck thӓt I stumblеd ӓcross your misӓdvеnturеs whilе.I thеn put in morе timе thӓn I probӓbly should hӓvе looking into your lifе.Frӓnkly,I ӓm rеӓdy to forgеt ӓll ӓbout you ӓnd lеt you gеt on with your lifе.And I ӓm going to givе you two options thӓt will ӓccomplish thӓt vеry thing.Thosе two options ӓrе to еithеr ignorе this lеttеr,or simply pӓy mе $822.Lеt’s еxӓminе thosе two options in morе dеtӓil. Option 1 is to ignorе this lеttеr.Lеt mе tеll you whӓt will hӓppеn if you chosе this pӓth.I will tӓkе this еvidеncе ӓnd sеnd it to your wifе. And ӓs insurӓncе ӓgӓinst you intеrcеpting it bеforе your wifе gеts it,I will ӓlso sеnd copiеs to hеr friеnds ӓnd fӓmily.So,Evеn if you dеcidе to comе clеӓn with your wifе,it won’t protеct hеr from thе humiliӓtion shе will fееl whеn hеr friеnds ӓnd fӓmily find out your sordid dеtӓils from mе. Option 2 is to pӓy mе $822.Wе’ll cӓll this my ‘confidеntiӓlity fее.’Now lеt mе tеll you whӓt hӓppеns if you choosе this pӓth.Your sеcrеt rеmӓins your sеcrеt.You go on with your lifе ӓs though nonе of this еvеr hӓppеnеd.Though you mӓy wӓnt to do ӓ bеttеr job ӓt kееping your misdееds sеcrеt in thе futurе. At this point you mӓy bе thinking,‘I’ll just go to thе cops.’Which is why I hӓvе tӓkеn stеps to еnsurе this lеttеr cӓnnot bе trӓcеd bӓck to mе.So thӓt won’t hеlp,ӓnd it won’t stop thе еvidеncе from dеstroying your lifе.I’m not looking to brеӓk your bӓnk.I just wӓnt to bе compеnsӓtеd for thе timе I put into invеstigӓting you. $822 will closе thе books on thӓt. Lеt’s ӓssumе you hӓvе dеcidеd to mӓkе ӓll this go ӓwӓy ӓnd pӓy mе thе confidеntiӓlity fее.In kееping with my strӓtеgy to not go to jӓil,wе will not mееt in pеrson ӓnd thеrе will bе no physicӓl еxchӓngе of cӓsh.You will pӓy mе ӓnonymously using bitcoin.If you wӓnt to kееp your sеcrеt thеn sеnd $822 in bitcoin to thе Rеcеiving Bitcoin Addrеss listеd bеlow.Pӓymеnt must bе rеcеivеd within 1 dӓys of thе post. You should mӓkе ӓ trӓnsӓction of using bitcoins (cryptocurrеnsy): x [Bitcoin dеtӓils] Tеll no onе whӓt you will bе using thе bitcoin for or thеy mӓy not givе it to you.Thе procеdurе to obtӓin bitcoin cӓn tӓkе ӓ dӓy or two so do not put it off.Agӓin pӓymеnt must bе rеcеivеd within 1 dӓys of this lеttеr’s post mӓrkеd dӓtе.If I don’t rеcеivе thе bitcoin by thе dеӓdlinе,I will go ӓhеӓd ӓnd rеlеӓsе thе еvidеncе to еvеryonе.If you go thӓt routе,thеn thе lеӓst you could do is tеll your wifе so shе cӓn comе up with ӓn еxcusе to prеpӓrе hеr friеnds ӓnd fӓmily bеforе thеy find out.Thе clock is ticking. And here are some common keywords used in the email so that this thread can be found by people Googling the email: "Marlware, international hacker group, No person has compensated, very own video clip, software on the adult, porno sitio, one of your pass word, .br, specific pixel, sexual content web portal, a malware on the adult, a malware on the, double-screen, is a reasonable price tag for our little secret, you have a good taste lmao, I placed a malware on the adult vids, your browser began operating as a RDP, had been abusing yourself in front of computer display, you are one of those people that downloaded the malicious, I made a split-screen video, While you were watching the video, your web browser acted as, malware on the porn website and guess what, an unique pixel, you jerked off while watching an online video, When you pressed the play button the virus begins saving all the things thru, ja.scr, My malicious soft started your front cam, and also send the video link to all of yourfriends, I infected your gadget with a malware and now, AnywaysI downloaded all contacts, my program quickly got into your system, To a time where you jerk off watching","For the present moment I have at my disposal all, When you arouse sexually watching porno, In such a way all needed compromising material and contact, All information to yours SNSs user accounts, You watched sexual content portal and toss","Hello! WannaCry is back! All your, in front of the screen browsing adult stuff, As you flog the dummy watching, U are going to be offered 5 days after checking this notice, RAT 68006, the damnific malware, pastime and entertainment there, not my single victim, beat the dummy, buff the muffin, choke a chicken, front camera capturing video, with you frigging, with you chaturbating, with you masturbating, web digicam, U are going to have 5 dayss, i utilize just hacked wi, pressured this trojan to, glue a pair of videos, glue two videos, the RAT, if you want me to destroy this whole video, downloaded all contacts from your computer, your list of contacts or relatives will, I made a video that shows how you masturbate, hacked you through a virus in an ad on a porn website, my illiteracy, nоt mind on my illiterаcy, I рilfered all рrivy bаckground, videоtaре with yоur masturbаtion, my delеtеrious soft, cаmеra shооt the videоtaрe, you sеlf-аbusing, Differently I will send the video to all your colleagues and friends, your front-camera made the videotape with you self-abusing, RAT 98390 malware, the minute you went to one adult page, information to contact info I discovered on your devices and remember there is a lot of these, not including Double VPN As a result, I forced my malware to hook up to a mic, web camera and catch the video from it, poisoned a number of adult sites, video clip to fit on a single tv screen, This letter has invisible monitoring program inside and i will be aware of when you are going to check, doing ur stuff and a clip u jerked to, the investigation will last, I uploaded our malicious program on your device, furthermore malware saved exactly the video you chose, its a record with your wanking, friends will see u taking proper care of yourself, Your system is controlled by the malicious program, If you were more careful while playing with yourself, that whacking off to adult web-sites is, adult website which was poisoned with my malware, nor i think that jerking off to porn sites is really a gross thing, so I dgf lmao, proof just reply to this email with, if you want me to destroy all this compromising evidence, will send your video to 5 contacts, amount in Usd that can cope with this scenario, You are welcome to contact your local authorities, If you want proof, reply with, i pride myself in being apart of an internet group, so i dgf, I take good care of my being anonymous, information related to the RAT virus, been able get in to all ur units, to all of your contacts including, search engines like goo, case sensitive, so copy,, and at this moment I, It is a non-nego, don't waste my perso, thi s mes, back while visiting, showe ring, what should you do ?, porno webpage, this embarrassing situation, navigated to the page, bare-assed, on well-known websites and publications, I got an order from someone to kill you and your family, immediately kill your family, is an explosive device, My mercenary is, explosive device detonates, triggered your webcam, piquant websites, my exploit downloaded, replenish btc wallet, instantaneously erase, actual recorded material, neglect this email, my RAT trojan, video you jerked, I used keylogger, your disk dump, malware intercepts, installed a malware, remove your video footage, RAT onto your computer, greasy stimulating actions, excentric preferrables, porn web-page, to your Tax Department, network will be DDoS, friends, WannaCry, building a protection policy, in Tax Departament, Yours service going, we pass CloudFlare, hear fake-experts, backuped phone, -1663, of your joys, digits your phone, (porno), BIG pervert, both files and scale, naughty video clips, Soy un hacker, I installed spyware, n website with teen, malware on the porn website, very own recorded material""Marlware, international hacker group, No person has compensated, very own video clip, software on the adult, porno sitio, one of your pass word, specific pixel, sexual content web portal, a malware on the adult, a malware on the, double-screen, is a reasonable price tag for our little secret, you have a good taste lmao, I placed a malware on the adult vids, your browser began operating as a RDP, had been abusing yourself in front of computer display, you are one of those people that downloaded the malicious, I made a split-screen video, While you were watching the video, your web browser acted as, malware on the porn website and guess what, an unique pixel, you jerked off while watching an online video, When you pressed the play button the virus begins saving all the things thru, ja.scr, My malicious soft started your front cam, and also send the video link to all of yourfriends, I infected your gadget with a malware and now, AnywaysI downloaded all contacts, my program quickly got into your system, To a time where you jerk off watching","For the present moment I have at my disposal all, When you arouse sexually watching porno, In such a way all needed compromising material and contact, All information to yours SNSs user accounts, You watched sexual content portal and toss","Hello! WannaCry is back! All your, in front of the screen browsing adult stuff, As you flog the dummy watching, U are going to be offered 5 days after checking this notice, RAT 68006, the damnific malware, pastime and entertainment there, not my single victim, beat the dummy, buff the muffin, choke a chicken, front camera capturing video, with you frigging, with you chaturbating, with you masturbating, web digicam, U are going to have 5 dayss, i utilize just hacked wi, pressured this trojan to, glue a pair of videos, glue two videos, the RAT, if you want me to destroy this whole video, downloaded all contacts from your computer, your list of contacts or relatives will, I made a video that shows how you masturbate, hacked you through a virus in an ad on a porn website, my illiteracy, nоt mind on my illiterаcy, I рilfered all рrivy bаckground, videоtaре with yоur masturbаtion, my delеtеrious soft, cаmеra shооt the videоtaрe, you sеlf-аbusing, Differently I will send the video to all your colleagues and friends, your front-camera made the videotape with you self-abusing, RAT 98390 malware, the minute you went to one adult page, information to contact info I discovered on your devices and remember there is a lot of these, not including Double VPN As a result, I forced my malware to hook up to a mic, web camera and catch the video from it, poisoned a number of adult sites, video clip to fit on a single tv screen, This letter has invisible monitoring program inside and i will be aware of when you are going to check, doing ur stuff and a clip u jerked to, the investigation will last, I uploaded our malicious program on your device, furthermore malware saved exactly the video you chose, its a record with your wanking, friends will see u taking proper care of yourself, Your system is controlled by the malicious program, If you were more careful while playing with yourself, that whacking off to adult web-sites is, adult website which was poisoned with my malware, nor i think that jerking off to porn sites is really a gross thing, so I dgf lmao, proof just reply to this email with, if you want me to destroy all this compromising evidence, will send your video to 5 contacts, amount in Usd that can cope with this scenario, You are welcome to contact your local authorities, If you want proof, reply with, i pride myself in being apart of an internet group, so i dgf, I take good care of my being anonymous, information related to the RAT virus, been able get in to all ur units, to all of your contacts including, search engines like goo, case sensitive, so copy,, and at this moment I, It is a non-nego, don't waste my perso, thi s mes, back while visiting, showe ring, what should you do ?, porno webpage, this embarrassing situation, navigated to the page, bare-assed, on well-known websites and publications, I got an order from someone to kill you and your family, immediately kill your family, is an explosive device, My mercenary is, explosive device detonates, triggered your webcam, piquant websites, my exploit downloaded, replenish btc wallet, instantaneously erase, actual recorded material, neglect this email, my RAT trojan, video you jerked, I used keylogger, your disk dump, malware intercepts, installed a malware, remove your video footage, RAT onto your computer, greasy stimulating actions, excentric preferrables, porn web-page, to your Tax Department, network will be DDoS, friends, WannaCry, building a protection policy, in Tax Departament, Yours service going, we pass CloudFlare, hear fake-experts, backuped phone, -1663, of your joys, digits your phone, (porno), BIG pervert, both files and scale, naughty video clips, Soy un hacker, I installed spyware, n website with teen, malware on the porn website, very own recorded material"
[fees] when do the sum of input values differ from the sum of output values?
Hello, For a fee to be received by a miner, the sum of the input values of a transaction needs to be strictly higher than the sum of the output values of the same transaction. But in which case other than proof-of-burn is there strict inequality?
If history is any guide, we’re not going to see ETH 2.0 until 2022 at the earliest, even if the earliest phases of “Serenity” begin getting pushed in mid-2020. ETH 2.0’s rollout breaks down into seven (7!!!) phases and brings with it the promise of staking, sharding, a new virtual machine, and more dancing badgers. (One of our analysts,Wilson Withiam, put together an excellent overview of both the ETH 2.0 and ETH 1.x roadmaps for this report. They are critical to track and understand at a high-level given how much Ethereum’s performance will affect other competitive projects and most of the DeFi and Web 3 infrastructure. So these next two sections are longer and more technical.) Here’s what you need to know about the current game plan for crypto’s largest platform. Phase 0 marks the launch of the “beacon chain”, which will serve as the backbone for a new blockchain. The beacon chain will manage network validators (large early stakers like ConsenSys) and ultimately assign validators to individual shards (slicing the new blockchain into smaller chunks is a key, difficult, controversial scaling decision that’s been made). The new chain will support Ethereum’s new proof-of-stake consensus mechanism, and offer inflation rewards with new ETH2 for those that pony up and lock 32 ETH1 tokens into an irreversible contract. That one way bridge into the new system is also contentious, but it means ETH1 supply will start getting “effectively burned”once token holder begin claiming beacon chain validator slots. Initial reports claimed Jan. 3 as a realistic launch date (lol). It will be amazing to see this launched by end of June. Phase 1 will introduce 64 individual shard chains (reduced from 1,024!!!) to the network, with the option to increase the total down the road as the design gets tested. The Ethereum elite see sharding as the “key to future scalability” as shards can parallelize transaction processing, something that could improve network performance and reduce individual validator’s costs (good for decentralization). It comes with big risk: this is still theoretical. No network the size of Ethereum has successfully sharded its blockchain. In Phase 1, shard chains will only contain simple data sets (no smart contracts or transaction executions) to test the system’s structure. As with Phase 0, the beacon chain will continue to run in parallel with ETH 1.x throughout the phase. Don’t expect Phase 1 anytime before 2021. Phase 2 marks the full launch of the ETH2 chain, allowing for on-chain contract execution and introducing the new eWASM virtual machine (dubbed EVM 2.0). At this point, existing dApps can start migrating their contracts from ETH 1.x to a specific shard (one shard per contract) in the new network. Storage rent, charging contract owners for storing data on the network (more on this below), is in the cards as well, which would require mass contract rewrites. Even though Phase 2 intends to replace the original Ethereum blockchain entirely, ETH 1.x may still live on as a shard within ETH2. (How confused are you by now? See why bitcoin will still dominate the macro narrative for a while?) A late 2021 release for Phase 2 is optimistic. Before the end of 2022 would be a win. The final four phases are less defined, and without an attached timeline: Phase 3 implements state-minimized clients (because stateless clients are just too much). Phase 4 allows for cross-shard transactions. Phase 5 improves network security and the availability of data proofs. Phase 6 introduces meta-shards, as in “shards within shards within shards,” for near-infinite scaling. If you’re scratching your head and are sadistic enough to read more, the Sharding Wiki page does note, “this may be difficult.” Scaling and compilation efficiencies aside, the most notable change in Ethereum’s metamorphosis is the transition from proof-of-work to proof-of-stake. PoW is the more battle tested security model for blockchain networks, while PoS may prove to be more efficient but with new and less obvious attack vectors. For the more technical, we recommend reading Bison Trails’ Viktor Bunin on the subject of PoS security threats. Past research has also shown PoS requires an extra layer of “trust” vs. PoW, to help nodes sync to the network. Most models share specific characteristics to address this trust issue, such as allowing for a dynamic set of validators (rotate your security), promoting token holder participation in consensus, and assessing steep penalties (slashing) for any network participant that violates the protocol guidelines. ETH 2.0 will function similarly, but may be able to learn from other PoS networks (and their R&D) as well as those come live and see real world issues. As Vitalik points out, recent research in PoS resulted in “great theoretical progress,” But... Listen, we're talking about practice. Not a game. Not a game. Not a game. We're talking about practice. Not a game….Practice? We're talking about practice, man? We're talking about practice. We're talking about practice. We ain't talking about the game. We're talking about practice, man. Vitalik was eight when this happened, so the clip might help and prove metaphoric.
2 ETH 1.x Research/Governance/Roadmap at a glance.
Ok, one more. Bear with us. Let’s reiterate, ETH 2.0 is a brand new blockchain. It’s going to be a chaotic and high-risk transition. In the meantime, the existing network needs to run existing applications (particularly financial settlements for DeFi transactions). More critical upgrades are needed in the current system. To that end, ETH 1.x devs have three goals to boost performance and reduce blockchain bloat: (1) introduce client optimizations that increase transaction capacity; (2) cap disk space requirements and prune old, memory-sucking data (so running a node is less expensive and more decentralized); and (3) upgrade the EVM to eWASM, a newer open standard for code compilers that simplifies debugging, and is also used by all the newer smart contract platforms. ETH 1.x developers have decided to split the major tasks amongst four working groups:
State Rent: Developers today incur a single payment for deploying contracts and storing data on the network. Thanks to the immutable nature of blockchains, this data occupies the disk space of node operators permanently. As the network’s state grows, so do operating costs, which is where “state rent” comes in. It makes sense to charge for ongoing storage needs since the node operators are on the hook in perpetuity. This is a big change as it could break a bunch of contracts, but also limits state growth and creates economic incentives to run a node. What happens to data that users don’t want to pay for? Boot delinquent user data off the network but keep a stub (a hash) of information on hand in case the user wants to later reinstate it.
Pruning: Similar goal. Pruning removes old data that is longer useful, but does so in a way that allows clients to prove past transactions. There are a couple of ways developers think this is possible (e.g. maintain a proof of deleted chain segments, which is similar to a “light client” in bitcoin that makes it possible to run a wallet on your phone), but all current strategies would cap annual “state growth” to prevent spikes in storage costs, at the expense of some new complications (e.g., dApps might be unable to access some data, and nodes might be unable to tell if data was deleted or whether it never existed in the first place).
eWASM: Like ETH 2.0, devs plan to implement eWASM on the flagship Ethereum chain. The eWASM virtual machine, a subset of the well-established WebAssembly compiler, offers improved flexibility for the introduction of “high-performance” smart contracts.
Simulation and Emulation: This group develops tools to help support and evaluate the other groups because, well, someone has to test everything.
Core developers intend to introduce most of these implementations through a series of hard forks, the latest of which activated just over a week ago (Istanbul, Dec. 7). However, Istanbul’s second phase, tentatively scheduled for Q2 next year, has Ethereans at each other’s throats. The controversy boils down to the fork’s inclusion of ProgPoW, an ASIC-resistant hashing algorithm designed to replace Ethereum’s current algo. ProgPoW aims to even the playing field for GPU miners and ward off the entrance of potential ASIC competitors. The miners like that. But many miners and investors see ProgPoW as a threat to their investments. For miners, the change would shift the power dynamic away from mining farms and render expensive, specialized mining hardware useless. Ethereum (and ERC-20) investors intent on securing their assets might balk because ASIC miners typically prop up hash rates (overall chain security) and their costs “naturally create a price-floor for ASK prices of miners’ sell-orders.” This saga is far from over. The infighting will likely continue leading up to ProgPoW’s activation date mid-next year, and presents the strongest potential for a network split since “The DAO” fork that spawned Ethereum Classic. The looming transition to ETH 2.0 (and proof-of-stake) will likely deter investor pushback, because it’s a short-term battle in a war the miners are ultimately going to lose, anyway. Unless the roadmap changes back to supporting a hybrid PoW/PoS system, of course, but... Oh my god, I’m just kidding. This section is mercifully over.
*These questions are sourced directly from Telegram Q: When you say RenVM is Trustless, Permissionless, and Decentralized, what does that actually mean? A: Trustless = RenVM is a virtual machine (a network of nodes, that do computations), this means if you ask RenVM to trade an asset via smart contract logic, it will. No trusted intermediary that holds assets or that you need to rely on. Because RenVM is a decentralized network and computes verified information in a secure environment, no single party can prevent users from sending funds in, withdrawing deposited funds, or computing information needed for updating outside ledgers. RenVM is an agnostic and autonomous virtual broker that holds your digital assets as they move between blockchains. Permissionless = RenVM is an open protocol; meaning anyone can use RenVM and any project can build with RenVM. You don't need anyone's permission, just plug RenVM into your dApp and you have interoperability. Decentralized = The nodes that power RenVM ( Darknodes) are scattered throughout the world. RenVM has a peak capacity of up to 10,000 Darknodes (due to REN’s token economics). Realistically, there will probably be 100 - 500 Darknodes run in the initial Mainnet phases, ample decentralized nonetheless. Q: Okay, so how can you prove this? A: The publication of our audit results will help prove the trustlessness piece; permissionless and decentralized can be proven today. Permissionless = https://github.com/renproject/ren-js Decentralized = https://chaosnet.renproject.io/ Q: How does Ren sMPC work? Sharmir's secret sharing? TSS? A: There is some confusion here that keeps arising so I will do my best to clarify.TL;DR: *SSS is just data. It’s what you do with the data that matters. RenVM uses sMPC on SSS to create TSS for ECDSA keys.*SSS and TSS aren’t fundamental different things. It’s kind of like asking: do you use numbers, or equations? Equations often (but not always) use numbers or at some point involve numbers. SSS by itself is just a way of representing secret data (like numbers). sMPC is how to generate and work with that data (like equations). One of the things you can do with that work is produce a form of TSS (this is what RenVM does). However, TSS is slightly different because it can also be done *without* SSS and sMPC. For example, BLS signatures don’t use SSS or sMPC but they are still a form of TSS. So, we say that RenVM uses SSS+sMPC because this is more specific than just saying TSS (and you can also do more with SSS+sMPC than just TSS). Specifically, all viable forms of turning ECDSA (a scheme that isn’t naturally threshold based) into a TSS needs SSS+sMPC. People often get confused about RenVM and claim “SSS can’t be used to sign transactions without making the private key whole again”. That’s a strange statement and shows a fundamental misunderstanding about what SSS is. To come back to our analogy, it’s like saying “numbers can’t be used to write a book”. That’s kind of true in a direct sense, but there are plenty of ways to encode a book as numbers and then it’s up to how you interpret (how you *use*) those numbers. This is exactly how this text I’m writing is appearing on your screen right now. SSS is just secret data. It doesn’t make sense to say that SSS *functions*. RenVM is what does the functioning. RenVM *uses* the SSSs to represent private keys. But these are generated and used and destroyed as part of sMPC. The keys are never whole at any point. Q: Thanks for the explanation. Based on my understanding of SSS, a trusted dealer does need to briefly put the key together. Is this not the case? A: Remember, SSS is just the representation of a secret. How you get from the secret to its representation is something else. There are many ways to do it. The simplest way is to have a “dealer” that knows the secret and gives out the shares. But, there are other ways. For example: we all act as dealers, and all give each other shares of our individual secret. If there are N of us, we now each have N shares (one from every person). Then we all individually add up the shares that we have. We now each have a share of a “global” secret that no one actually knows. We know this global secret is the sum of everyone’s individual secrets, but unless you know every individual’s secret you cannot know the global secret (even though you have all just collectively generates shares for it). This is an example of an sMPC generation of a random number with collusion resistance against all-but-one adversaries. Q: If you borrow Ren, you can profit from the opposite Ren gain. That means you could profit from breaking the network and from falling Ren price (because breaking the network, would cause Ren price to drop) (lower amount to be repaid, when the bond gets slashed) A: Yes, this is why it’s important there has a large number of Darknodes before moving to full decentralisation (large borrowing becomes harder). We’re exploring a few other options too, that should help prevent these kinds of issues. Q: What are RenVM’s Security and Liveliness parameters? A: These are discussed in detail in our Wiki, please check it out here: https://github.com/renproject/ren/wiki/Safety-and-Liveliness#analysis Q: What are the next blockchain under consideration for RenVM? A: These can be found here: https://github.com/renproject/ren/wiki/Supported-Blockchains Q: I've just read that Aztec is going to be live this month and currently tests txs with third parties. Are you going to participate in early access or you just more focused on bringing Ren to Subzero stage? A: At this stage, our entire focus is on Mainnet SubZero. But, we will definitely be following up on integrating with AZTEC once everything is out and stable. Q: So how does RenVM compare to tBTC, Thorchain, WBTC, etc..? A: An easy way to think about it is..RenVM’s functionality is a combination of tBTC (+ WBTC by extension), and Thorchain’s (proposed) capabilities... All wrapped into one. Just depends on what the end-user application wants to do with it. Q1: What are the core technical/security differences between RenVM and tBTC?A1: The algorithm used by tBTC faults if even one node goes offline at the wrong moment (and the whole “keep” of nodes can be penalised for this). RenVM can survive 1/3rd going offline at any point at any time. Advantage for tBTC is that collusion is harder, disadvantage is obviously availability and permissionlessness is lower. tBTC an only mint/burn lots of 1 BTC and requires an on-Ethereum SPV relay for Bitcoin headers (and for any other chain it adds). No real advantage trade-off IMO. tBTC has a liquidation mechanism that means nodes can have their bond liquidated because of ETH/BTC price ratio. Advantage means users can get 1 BTC worth of ETH. Disadvantage is it means tBTC is kind of a synthetic: needs a price feed, needs liquid markets for liquidation, users must accept exposure to ETH even if they only hold tBTC, nodes must stay collateralized or lose lots of ETH. RenVM doesn’t have this, and instead uses fees to prevent becoming under-collateralized. This requires a mature market, and assumed Darknodes will value their REN bonds fairly (based on revenue, not necessarily what they can sell it for at current —potentially manipulated—market value). That can be an advantage or disadvantage depending on how you feel. tBTC focuses more on the idea of a tokenized version of BTC that feels like an ERC20 to the user (and is). RenVM focuses more on letting the user interact with DeFi and use real BTC and real Bitcoin transactions to do so (still an ERC20 under the hood, but the UX is more fluid and integrated). Advantage of tBTC is that it’s probably easier to understand and that might mean better overall experience, disadvantage really comes back to that 1 BTC limit and the need for a more clunky minting/burning experience that might mean worse overall experience. Too early to tell, different projects taking different bets. tBTC supports BTC (I think they have ZEC these days too). RenVM supports BTC, BCH, and ZEC (docs discuss Matic, XRP, and LTC). Q2: This are my assumed differences between tBTC and RenVM, are they correct? Some key comparisons: -Both are vulnerable to oracle attacks -REN federation failure results in loss or theft of all funds -tBTC failures tend to result in frothy markets, but holders of tBTC are made whole -REN quorum rotation is new crypto, and relies on honest deletion of old key shares -tBTC rotates micro-quorums regularly without relying on honest deletion -tBTC relies on an SPV relay -REN relies on federation honesty to fill the relay's purpose -Both are brittle to deep reorgs, so expanding to weaker chains like ZEC is not clearly a good idea -REN may see total system failure as the result of a deep reorg, as it changes federation incentives significantly -tBTC may accidentally punish some honest micro-federations as the result of a deep reorg -REN generally has much more interaction between incentive models, as everything is mixed into the same pot. -tBTC is a large collection of small incentive models, while REN is a single complex incentive model A2: To correct some points: The oracle situation is different with RenVM, because the fee model is what determines the value of REN with respect to the cross-chain asset. This is the asset is what is used to pay the fee, so no external pricing is needed for it (because you only care about the ratio between REN and the cross-chain asset). RenVM does rotate quorums regularly, in fact more regularly than in tBTC (although there are micro-quorums, each deposit doesn’t get rotated as far as I know and sticks around for up to 6 months). This rotation involves rotations of the keys too, so it does not rely on honest deletion of key shares. Federated views of blockchains are easier to expand to support deep re-orgs (just get the nodes to wait for more blocks for that chain). SPV requires longer proofs which begins to scale more poorly. Not sure what you mean by “one big pot”, but there are multiple quorums so the failure of one is isolated from the failures of others. For example, if there are 10 shards supporting BTC and one of them fails, then this is equivalent to a sudden 10% fee being applied. Harsh, yes, but not total failure of the whole system (and doesn’t affect other assets). Would be interesting what RenVM would look like with lots more shards that are smaller. Failure becomes much more isolated and affects the overall network less. Further, the amount of tBTC you can mint is dependent on people who are long ETH and prefer locking it up in Keep for earning a smallish fee instead of putting it in Compound or leveraging with dydx. tBTC is competing for liquidity while RenVM isn't. Q: I understand correctly RenVM (sMPC) can get up to a 50% security threshold, can you tell me more? A: The best you can theoretically do with sMPC is 50-67% of the total value of REN used to bond Darknodes (RenVM will eventually work up to 50% and won’t go for 67% because we care about liveliness just as much as safety). As an example, if there’s $1M of REN currently locked up in bonded Darknodes you could have up to $500K of tokens shifted through RenVM at any one specific moment. You could do more than that in daily volume, but at any one moment this is the limit.Beyond this limit, you can still remain secure but you cannot assume that players are going to be acting to maximize their profit. Under this limit, a colluding group of adversaries has no incentive to subvert safety/liveliness properties because the cost to attack roughly outweighs the gain. Beyond this limit, you need to assume that players are behaving out of commitment to the network (not necessarily a bad assumption, but definitely weaker than the maximizing profits assumption). Q: Why is using ETH as collateral for RenVM a bad idea? A: Using ETH as collateral in this kind of system (like having to deposit say 20 ETH for a bond) would not make any sense because the collateral value would then fluctuate independently of what kind of value RenVM is providing. The REN token on the other hand directly correlates with the usage of RenVM which makes bonding with REN much more appropriate. DAI as a bond would not work as well because then you can't limit attackers with enough funds to launch as many darknodes as they want until they can attack the network. REN is limited in supply and therefore makes it harder to get enough of it without the price shooting up (making it much more expensive to attack as they would lose their bonds as well). A major advantage of Ren's specific usage of sMPC is that security can be regulated economically. All value (that's being interopped at least) passing through RenVM has explicit value. The network can self-regulate to ensure an attack is never worth it. Q: Given the fee model proposal/ceiling, might be a liquidity issue with renBTC. More demand than possible supply?A: I don’t think so. As renBTC is minted, the fees being earned by Darknodes go up, and therefore the value of REN goes up. Imagine that the demand is so great that the amount of renBTC is pushing close to 100% of the limit. This is a very loud and clear message to the Darknodes that they’re going to be earning good fees and that demand is high. Almost by definition, this means REN is worth more. Profits of the Darknodes, and therefore security of the network, is based solely on the use of the network (this is what you want because your network does not make or break on things outside the systems control). In a system like tBTC there are liquidity issues because you need to convince ETH holders to bond ETH and this is an external problem. Maybe ETH is pumping irrespective of tBTC use and people begin leaving tBTC to sell their ETH. Or, that ETH is dumping, and so tBTC nodes are either liquidated or all their profits are eaten by the fact that they have to be long on ETH (and tBTC holders cannot get their BTC back in this case). Feels real bad man. Q: I’m still wondering which asset people will choose: tbtc or renBTC? I’m assuming the fact that all tbtc is backed by eth + btc might make some people more comfortable with it. A: Maybe :) personally I’d rather know that my renBTC can always be turned back into BTC, and that my transactions will always go through. I also think there are many BTC holders that would rather not have to “believe in ETH” as an externality just to maximize use of their BTC. Q: How does the liquidation mechanism work? Can any party, including non-nodes act as liquidators? There needs to be a price feed for liquidation and to determine the minting fee - where does this price feed come from? A: RenVM does not have a liquidation mechanism. Q: I don’t understand how the price feeds for minting fees make sense. You are saying that the inputs for the fee curve depend on the amount of fees derived by the system. This is circular in a sense? A: By evaluating the REN based on the income you can get from bonding it and working. The only thing that drives REN value is the fact that REN can be bonded to allow work to be done to earn revenue. So any price feed (however you define it) is eventually rooted in the fees earned. Q: Who’s doing RenVM’s Security Audit? A: ChainSecurity | https://chainsecurity.com/ Q: Can you explain RenVM’s proposed fee model? A: The proposed fee model can be found here: https://github.com/renproject/ren/wiki/Safety-and-Liveliness#fees Q: Can you explain in more detail the difference between "execution" and "powering P2P Network". I think that these functions are somehow overlapping? Can you define in more detail what is "execution" and "powering P2P Network"? You also said that at later stages semi-core might still exist "as a secondary signature on everything (this can mathematically only increase security, because the fully decentralised signature is still needed)". What power will this secondary signature have? A: By execution we specifically mean signing things with the secret ECDSA keys. The P2P network is how every node communicates with every other node. The semi-core doesn’t have any “special powers”. If it stays, it would literally just be a second signature required (as opposed to the one signature required right now). This cannot affect safety, because the first signature is still required. Any attack you wanted to do would still have to succeed against the “normal” part of the network. This can affect liveliness, because the semi-core could decide not to sign. However, the semi-core follows the same rules as normal shards. The signature is tolerant to 1/3rd for both safety/liveliness. So, 1/3rd+ would have to decide to not sign. Members of the semi-core would be there under governance from the rest of our ecosystem. The idea is that members would be chosen for their external value. We’ve discussed in-depth the idea of L<3. But, if RenVM is used in MakerDAO, Compound, dYdX, Kyber, etc. it would be desirable to capture the value of these ecosystems too, not just the value of REN bonded. The semi-core as a second signature is a way to do this. Imagine if the members for those projects, because those projects want to help secure renBTC, because it’s used in their ecosystems. There is a very strong incentive for them to behave honestly. To attack RenVM you first have to attack the Darknodes “as per usual” (the current design), and then somehow convince 1/3rd of these projects to act dishonestly and collapse their own ecosystems and their own reputations. This is a very difficult thing to do. Worth reminding: the draft for this proposal isn’t finished. It would be great for everyone to give us their thoughts on GitHub when it is proposed, so we can keep a persistent record. Q: Which method or equation is used to calculate REN value based on fees? I'm interested in how REN value is calculated as well, to maintain the L < 3 ratio? A: We haven’t finalized this yet. But, at this stage, the plan is to have a smart contract that is controlled by the Darknodes. We want to wait to see how SubZero and Zero go before committing to a specific formulation, as this will give us a chance to bootstrap the network and field inputs from the Darknodes owners after the earnings they can make have become more apparent.
Introducing Burni: Proof-of-burn based NFTs with client-side genesis hashes
Most of the blockchain-based digital collectibles have a valuation based on their rarity, attributes, or connection to a particular brand. Burni was created to inherit a valuation via proof-of-burn (see: proof-of-burn: https://en.bitcoin.it/wiki/Proof_of_burn). The way it works, is fungible ERC-20 tokens are destroyed, or burnt up in the forging of new ERC-721 non-fungible tokens. Each token can set an IPFS content identifier multihash a single time, connecting the token to real-world assets and peer-to-peer distributed content. (see: Why IPFS?: https://youtu.be/zE_WSLbqqvo) A distributed pseudorandom genesis hash is calculated as:
The genesis hash in combination with the underlying CID multihash, and the delay between minting and setting this value allows for flexible data structures and client-side state hydration options. For example, a MerkleDAG multihash can be used to point each token at the other for collectible mixing with genesis-hash entropy. Running a genesis hash as a latent space seed through a GAN results in a unique photo-realistic image bound to the token. This never-before-seen cat is the result of one such token: https://i.imgur.com/pfxljnk.png As the base token used to mint the collectibles is "used up" during the minting process, there's a deflationary process akin to a virtual resource being consumed in the creation of new materials. The NFTs have a getValuation() function to find the amount of Burni used to create the NFT. https://burni.co
First, let’s look at some of the issues facing Proof-of-Work (PoW) consensus that led to the development of PoS.
Excessive energy consumption — In 2017, many concerns were raised over the amount of electricity used by the bitcoin network (Largest PoW blockchain). Since then the energy consumption has increased by over 400%, to the point where 1 single transaction on this network has the same carbon footprint of 736,722 Visa transactions or consumes the same amount of electricity as over 20 U.S. households.
Varying Electricity Costs — The profit of any miner on the network is tied to two costs, the initial startup cost to obtain the hardware and infrastructure, and more critically, the running cost of said equipment in relation to electricity usage. Electricity costs can vary from fractions of a cent per kWh to over 50 cents (USD) and in some cases it is free. When a user may only be earning $0.40 USD per hour then this will clearly rule out certain demographics based purely on electricity costs, reducing the potential for complete decentralization.
Reduced decentralization — Due to the high cost of the mining equipment, those with large financial bases setup mining farms, either for others to rent out individual miners or entirely for personal gains. This results in large demographic hotspots on the network reducing the decentralized aspect to a point where it no longer accomplishes this aspect.
Conflicted interests — The requirements of running miners on the network are purely based on having possession of the hardware, electricity and internet connection. There are no limits to the amount a miner can earn, nor do they need to hold any stake in the network, and thus there is very little incentive for them to vote on upgrades that may benefit the network but reduce their rewards.
I want to take this moment to mention a potential benefit to PoW that I have not seen anyone mention previously. It is a very loose argument so don’t take this to heart too strongly. Consistent Fiat Injection — The majority of miners will be paying for their electricity in fiat currency. At a conservative rate of $0.1 USD per kWh, the network currently uses 73.12 TWh per year. This equates to an average daily cost of over $20 million USD. This means every day around $20 million of fiat currency is effectively being injected into the bitcoin network. Although this concept is somewhat flawed in the sense that the same amount of bitcoin will be released each day regardless of how much is spent on electricity, I’m looking at this from the eyes of the miners, they are reducing their fiat bags and increasing their bitcoin bags. This change of bags is the essence of this point which will inevitably encourage crypto spending. If the bitcoin bags were increased but fiat bags did not decrease, then there would be less incentive to spend the bitcoin, as would see in a staking ecosystem. https://preview.redd.it/8dtqt6e204c41.png?width=631&format=png&auto=webp&s=065aedde87b55f0768968307e59e62a35eac949d
Different approaches have been taken to tackle different issues the PoS protocol faces. Will Little has an excellent article explaining this and more in PoS, but let me take an excerpt from his piece to go through them:
Coin-age selection — Blockchains like Peercoin (the first PoS chain), start out with PoW to distribute the coins, use coin age to help prevent monopolization and 51% attacks (by setting a time range when the probability of being selected as a node is greatest), and implement checkpoints initially to prevent NoS problems.
Randomized block selection — Chains like NXT and Blackcoin also use checkpoints, but believe that coin-age discourages staking. After an initial distribution period (either via PoW or otherwise), these chains use algorithms to randomly select nodes that can create blocks.
Ethereum’s Casper protocol(s) — Being already widely distributed, Ethereum doesn’t have to worry about the initial distribution problem when/if it switches to PoS. Casper takes a more Byzantine Fault Tolerant (BFT) approach and will punish nodes by taking away (“slashing”) their stake if they do devious things. In addition, consensus is formed by a multi-round process where every randomly assigned node votes for a specific block during a round.
Delegated Proof-of-Stake (DPoS) — Invented by Dan Larimer and first used in Bitshares (and then in [aelf,] Steem, EOS, and many others), DPoS tackles potential PoS problems by having the community “elect” delegates that will run nodes to create and validate blocks. Bad behavior is then punished by the community simply out-voting the delegated nodes.
Delegated Byzantine Fault Tolerance (DBFT) — Similar to DPoS, the NEO community votes for (delegates) nodes, but instead of each node producing blocks and agreeing on consensus, only 2 out of 3 nodes need to agree on what goes in every block (acting more like bookkeepers than validators).
Masternodes — First introduced by DASH, a masternode PoS system requires nodes to stake a minimum threshold of coins in order to qualify as a node. Often this comes with requirements to provide “service” to a network in the form of governance, special payment protocols, etc…
Proof of Importance (POI) — NEM takes a slightly different approach by granting an “importance calculation” to masternodes staking at least 10,000 XEM. This POI system then rewards active nodes that act in a positive way over time to impact the community.
In order to understand how one can earn money from these networks, I’ll break them down into 3 categories: Simple staking, Running nodes, and Voting. Simple Staking - This is the simplest of the 3 methods and requires almost no action by the user. Certain networks will reward users by simply holding tokens in a specified wallet. These rewards are generally minimal but are the easiest way to earn. Running a node - This method provides the greatest rewards but also requires the greatest action by the user and most likely will require ongoing maintenance. Generally speaking, networks will require nodes to stake a certain amount of tokens often amounting to thousands of dollars. In DPoS systems, these nodes must be voted in by other users on the network and must continue to provide confidence to their supporters. Some companies will setup nodes and allow users to participate by contributing to the minimum staking amount, with a similar concept to PoW mining pools. Voting - This mechanism works hand in hand with running nodes in relation to DPoS networks. Users are encouraged to vote for their preferred nodes by staking tokens as votes. Each vote will unlock a small amount of rewards for each voter, the nodes are normally the ones to provide these rewards as a portion of their own reward for running a node.
Aelf’s DPoS system
The aelf consensus protocol utilizes a form of DPoS. There are two versions of nodes on the network, active nodes & backup nodes (official names yet to be announced). Active nodes run the network and produce the blocks, while the backup nodes complete minor tasks and are on standby should any active nodes go offline or act maliciously. These nodes are selected based upon their number of votes received. Initially the top 17 nodes will be selected as active nodes, while the next 100 will stand as the backup ones, each voting period each node may change position should they receive more or less votes than the previous period. In order to be considered as a node, one must stake a minimum amount of ELF tokens (yet to be announced). https://preview.redd.it/47d3wqe604c41.png?width=618&format=png&auto=webp&s=062a6aa6186b826d400a0015d4c91fd1a4ed0b65 In order to participate as a voter, there is no minimum amount of tokens to be staked. When one stakes, their tokens will be locked for a designated amount of time, selected by the voter from the preset periods. If users pull their tokens out before this locked period has expired no rewards are received, but if they leave them locked for the entire time frame they will receive the set reward, and the tokens will be automatically rolled over into the next locked period. As a result, should a voter decide, once their votes are cast, they can continue to receive rewards without any further action needed. Many projects have tackled with node rewards in order to make them fair, well incentivized but sustainable for everyone involved. Aelf has come up with a reward structure based on multiple variables with a basic income guaranteed for every node. Variables may include the number of re-elections, number of votes received, or other elements. As the system matures, the number of active nodes will be increased, resulting in a more diverse and secure network. Staking as a solution is a win-win-win for network creators, users and investors. It is a much more resource efficient and scalable protocol to secure blockchain networks while reducing the entry point for users to earn from the system.
3 It explains our intuition that human beings, but not lower animals, have free will. Lower animals lack free will because they lack the second-order volitions which are constitutive of free will. (This item is unnecessary and probably not true; how do we know animals have no "second-order volitions"? Having no other language than "body", we can only surmise (guess) what their volitions are. Volitions come before actions, we cannot see them or interpret them in any way. Brain conditions might be interpreted with MRI scanning, but to put a subject in a scanning device is to prevent any other actions. Such measuring ruins the connection between mental state and volition being measured, except we can safely assume that every measurement of animals must default to the volition to escape the measuring device.)
That's the first-order, highlighted deviation from compatibility theory. Clarification of "second-order volition": a path from choice to action has an intermediate "middle-way" tunneling mode, contracting (taking on) a desire to make a choice, prior to making the choice. In order to prove freedom, one must establish the mental preference for an imagined outcome in order to prove that preference did come from within the person and was not forced by other external deciding factors (genetic factors are pre-determined). incompatibilism Note: the approach is wrong by the universal assumption, IOW that the intersection of determined and free is zero. It's a supremacy position, or superposition principle (LoL), the error is in over-simplification. The Logic Argument (p.5) is not representative of reality, which is more nuanced. Therefore, Frankfurt's thesis is good (denial of incompatibilism), but not due to the case presented (superposition). Take Frankfurt's case (p.4) of Black vs Jones4 to be analogy for State vs Individual. Silent Weapons for Quiet Wars (other sources exist, search for yourself) The (myusername) determinism/free-will duality hypothesis (denial of incompatibilism due to non-zero intersection):
Most choices, including the choice of desires, are determined by contingencies of which one is the natural desire of the actor to optimize his/her outcomes ("best wishes"). Is a person always compelled to have best wishes? What is best depends on a person's mental state, which is usually determined by external factors, but those can vary in cogency (impact on behavior). Consider the choice to commit suicide, certainly not a trivial choice. (The Chosen means of execution (puns intended) is somewhat more trivial, but again, partly determined by external conditions.)
Some choices, nearly all trivial, are free because no interfering contingencies are apparent during the choosing interlude. It may happen in hindsight, that a past choice is observed to be a mistake, usually because some contingency was overlooked or unknown during the choosing. This observation should be remembered so as to avoid repeating a future choice like that mistake. Choices always have risks, including the choice to do nothing. Different day, slightly different approach... parsing choice. 1 important choices that have many deep effects later, for instances a marriage partner, a new job, a new residence; 2 trivial choices which have minor effects, risks or physical involvement, for instances a choice of toothpaste at the market, to like or not a web-link or museum exhibit. According to (myusername)'s determined/free paradigm, type 1 choices are nearly all determined by pre-existing conditions (not free). Type 2 choice is the arena of freedom. I suppose a person's low risk-aversion parameter could expand the envelope of freedom, but that's a characteristic that develops during maturation, one's history of choices and ensuing responses. Successful responses lead to more freedom, failures to less. So even when freedom exists, it accumulates a history (habits) which become a determinant. Contracting the Social Construct Disorder (it's contagious) Take 1: How does an actor (person in question who comes to an internal state, or inner-construct) interact with a community or society? Must it be IRL, or can virtual interaction suffice to construct internal states? And more to my point, must the interaction be two-way (containing feedback), or simply via broadcast medium? (broadcast includes published books, articles, records, radio, TV or Internet A/V shows, etc.) Interaction with broadcast media can be summarized by: a choice, a degree of attention and focus (time spent on and attention given to item), a like/dislike or more complex reaction to item, having future behavior influenced by item, to continue a stream of behaviors (especially sequential item choices) as consequence of influence of item, to develop a complex of attitudes built upon stream of items (eg. just mentioned 'risk aversion parameter and habit). Before going on, I notice that broadcast media is like Sunshine, Rain, and Grace. It is made available by participation in a community, and falls without curse or blessing, it's all there for the choosing (or ignoring), depending on the contingencies. Mind control theory? (because mind is the inner source of volition... behavior, control the mind (easy), hence control the behaviors (difficult otherwise)) Mind control courtesy Tavistock Inst. Construction of Favor (or any knowledge) upon Familiarity What is Social Construction? (cntrlZ)
"For instance, trees are only differentiated from other plants by virtue of the fact that we have all learned to see them as "trees."
But we don't all know about trees to an equal degree. I know rather much about trees from my interaction with them: living among them, planting them, sawing them, moving them, burning them, etc., not from reading or talking about them. No doubt, there are many persons all over the world who have very little experience of trees, and cannot 'construct' treeness as well as me. Direct experience is more realistic and developed than social constructs. Favor and Familiarity are interwoven by choice I chose to live alone with trees and not alone with sea, or desert (for examples), because it was easier to go with trees. Was the choice free? I could have chosen city or suburb with even more ease than forest, so ease of choice was not the deciding factor, it was my preference of lonely forest over crowded urb that decided me. So maybe it wasn't really about trees, it was about independence or something else like that. When we choose, we may not understand the contingencies, but our decision (choice) may be due to habits or patterns that have developed in the maturity process. Habits are strong determinants, and they develop, according to Ian Plowman, 4 ways. The cntrlZ article makes the case for 'Strong Social Construction' based on that 'knowing' which is all about language, certainly a social construct.
Within the social construction of language is the game. Outside the social construction is reality, the real world. (a list of social constructs follows)
That makes it clear. Experiences (direct ones) without resort to language are NOT social constructs. That observation makes another distinction clear: gender may be a social construct, as it's a language issue, but sex is not a social construct, it is a direct experience issue that develops in the maturation process: birth, infant, child, puberty, sexy adolescent, sexy adult, old (unsexy) adult, death. Prior to puberty, sex is incipient in its development, but comes to life, (like a flower blooms) after a decade or so. Knowing about sex as a child is by observation from outside (thru the looking glass), after puberty, it's direct experience, and much later, it's a fading memory. Regarding Looking-glass self theory the notion of socially constructed identity (defining the self by differences/ affinities to others),
... the outcome of "taking the role of the other", the premise for which the self is actualized. Through interaction with others, we begin to develop an identity of our own as well as developing a capacity to empathize with others... Therefore, the concept of self-identity may be considered an example of a social construction.
... makes a spurious expansion of identity formation to include everyone (a unity), or nearly so. According to Reisman's Lonely Crowd, there is a triality of social nature, expounded by parsing people into tradition, inner, and other directed personalities. This theme was a scholar's response to the US trend toward consumerism and conformity to "norms", (local traditions, eg. "keeping up with the Joneses") mid-20th century. The social construct crowd would be Reisman's Other directed personality, which may truly be the majority, in USA certainly. However, the tradition-following and inner-directed personalities are a significant minority. Let's not ignore them (I'm in there.) What is “Mob Mentality?” Herd mentality | wkpd Are All Personality Descriptions Social Constructions? Sep.2019 | psytdy
... that objective reality does not directly reveal itself to us, is true beyond a doubt.
The preceding statement author, JA Johnson, is way off (and his article is full of falseness). Objective reality IS direct experience, no more revealing modality exists. Denial of this obvious fact (just lied about above) is a redefinition of the term (a social construct). Experience is beyond language, thus beyond 'description'. However the following is a true reveal about (((Yews))) (the like of whom Dr. Johnson seems):
It is true that when we describe someone with socially undesirable traits... we are constructing for them a social reputation that might decrease their chance of success in life. This is precisely one of the concerns of (((social constructivists, like Dr. Johnson))), that certain categorizations (eg. a separate race) reduce power and status.
Favor-Goodness-Beauty paradigm Favor is not favored in prior art, Truth takes Favor's place in the Transcendental Spectrum: Transcendentals 5pg.pdf We have already seen the idea in part 1 that Truth is a disputed transcendental in the social-constructionism academic universe. Academics use the "universal fallacy" that their favored item is part of an incompatible pair, which by logic excludes everything not in their favor. They want to ignore the nuances in order to push an ideology toward a supremacy of thinking, just like in a totalitarian state. Whereas the (myusername) principle of Truth, it has a dual nature, 1 relative to a society (democratic consensus); and 2 absolute to reality (math/science/technology). So 'Favor' is a better term because objective proof (no contest) is not required (except the meaning of objective that says 'objection!', meaning 'contest'). 'Favor' implies bias which is the subjective reaction that matches Goodness and Beauty better than 'Truth'. Apply Truth-Goodness-Beauty paradigm to social construction
because the aim of constructionists is to justify a collective "truth" of their own construction. A social construct is not absolute, it's anything a society wants it to be ("social proof"). That's a good description of tyranny... The Empowered Female Parasite 2014 (that's a surprising result, here is one not-surprising.) Social Proof: established by culture media (mind control, a monopoly 2012 (scroll down long graphic), of the Juice 2015), go back to part 1, macrosocial constructs. Does Appreciation of Beauty have any innate sources? (otherwise it's all a social construct) Neuroscience of Beauty; How does the brain appreciate art? 2011 | sciam (in brain) Onward (Dis)-Favor Readers... Investigation of (Dis-)Favor 3\3, House of Not-Friends Contracting the Social Construct Disorder Take 2 Living outside the 'Normitory" (away from Dreamland (everybody's asleep), to where Nessun Dorma (nobody sleeps)) It so happens that an ethnic group which originated in eastern Mediterranean Middle-East evolved to specialize in intelligence, commerce, morally corrupt enterprises, and crime. Essential to their success was eugenic traditions that applied artificial selection to just those same specialties, which makes this ethnic group a formidable enemy. They have developed a very strong sense of in-groupness, and a vested interest in social construct studies. A unified collective is a more effective competitor than an inchoate population of diverse individuals. This group has as ethnic traits: global dispersion (aka Diaspora), preference for urban environments (aka Cosmopolitan, or Globalist), covert inter-group rivalry (aka InfoWar), and deception (aka MOSSAD). This cosmopolitan group must operate covertly and deceptively, because those are effective tactics, and they are a small minority (2% of USA), therefore weak in the democratic sense. Immoral Social Constructs enforced by 5th column subversives
There is no universal morality. Morality is much like Beauty, in the mind of beholder (actor who holds to a specific moral code). Morality is a social construct, and varies between societies. (I think a fair definition of morality is a code of ethics which is community-specific.) For a society to sustain, it needs to be isolate from conflicting societies. If different societies, with different moralities must coexist, the natural tendency for actors in the same niche toward dominance will destroy or remake the subordinate societies, which reduces the conflicts. Status Hierarchies: Do We Need Them? blog 2012 | psytd
a need for 'virtue signaling'? It's natural, and likely unavoidable, evidence pride displays.
Burstcoin Is A Robust And Unique Cryptocurrency: Proof of Capacity (PoC) Ensures Decentralization, Energy Efficiency, And Low Barrier To Entry
http://www.cypherpunklabs.com/burstcoin-is-a-robust-and-unique-cryptocurrency-proof-of-capacity-poc-ensures-decentralization-energy-efficiency-and-low-barrier-to-entry/ Decentralization is perhaps the fundamental reason why Bitcoin has been successful. Since Bitcoin is decentralized, its network cannot be controlled by any government, corporation, or other centralized entity, and this is why Bitcoin still exists to this day rather than being shutdown a long time ago. Bitcoin achieves decentralization through its Proof of Work (PoW) algorithm, where miners around the world cryptographically hash transactions into blocks and receive block rewards for their efforts, and nodes constantly check to ensure that all confirmed transactions are following consensus rules. The major caveat with PoW is it is energy intensive. This has especially become a problem due to the rapid rise in Bitcoin’s price long term, which has resulted in an arms race of sorts to amass the most hashing power in order to obtain the most mining profits. Indeed, the Bitcoin hash rate has risen orders of magnitude, from MH/s, to GH/s, to TH/s, to PH/s, and now up to its all-time high so far of 84 EH/s. This represents exponentially more computing resources and energy consumption. This is a problem for two reasons. First off, there is a very high barrier to entry for new users to mine Bitcoin. It requires thousands of dollars of mining equipment to make any worthwhile profit from mining Bitcoin. Secondly, Bitcoin mining consumes a massive amount of energy worldwide. It is estimated by Digiconomist that Bitcoin mining uses 73.12 TWh of energy annually, equivalent to the electricity consumption of the entire country of Austria, or 0.33% of total global electricity consumption. This releases nearly 35 Megatons of Carbon Dioxide annually, contributing to global warming, aside from other environmental damage caused by burning fossil fuels and manufacturing mining equipment. Digiconomist may be an overestimate of Bitcoin’s environmental impact, but it is somewhere in the ballpark. Numerous alternative cryptocurrencies have tried to be environmentally friendly via using the Proof of Stake (PoS) algorithm, but this sacrifices decentralization, since all the voting rights end up concentrated into the hands of developers and major bag holders. This is where Proof of Capacity (PoC), formerly called Proof of Space, comes in. Instead of using specialized Bitcoin mining equipment, PoC simply uses hard drive space to mine cryptocurrency. Burstcoin (BURST) is the #1 PoC cryptocurrency. Bitcoin HD (BHD) is another PoC cryptocurrency, but it has a highly centralized supply with 3.1 million out of 5 million total coins in the hands of the developers, so it is nonsensical to choose BHD considering that BURST has a highly decentralized supply. The problem with a centralized supply is it can cause a coin’s value to collapse long term due to developers dumping on the market. In order to start mining BURST, a user simply allocates part of their hard drive, and this area of hard drive is plotted. Plotting is a 1-time hashing cycle where the hard drive is filled with cryptographic hashes via the Shabal cryptographic algorithm. The node also has to synchronize with the BURST blockchain before mining. Fortunately, the BURST blockchain is less than 9 GB, versus the Bitcoin blockchain which is nearly 240 GB. Once plotting and synchronization is complete the user can begin mining. During each mining round the plot file is searched to find the correct cryptographic hash for the block, and when the correct hash is found the user receives a block reward. Essentially, the hashes in the plot file can be thought of as lottery tickets, and the bigger the size of the plot, meaning the more hard drive space dedicated to mining BURST, the more likely it is to find the correct hash. Like with Bitcoin mining, users can join pools so that even if they have a small amount of hard drive space they can still earn BURST at a steady pace. Since BURST’s PoC algorithm simply reads a hard drive versus the intense computational work of Bitcoin’s PoW, BURST mining uses a negligible amount of electricity. It is estimated that each BURST transaction consumes 0.0024 KWh of electricity, versus about 1,000 KWh used for each Bitcoin transaction. Aside from being far more environmentally friendly, electricity costs are negligible for BURST miners, so BURST miners earn nearly 100% profit. This opens the door for users with any level of technology to profitably mine BURST, including personal computers and technically even cell phones. Compare this to Bitcoin where mining with even a powerful personal computer is impossible. Ultimately, BURST’s energy efficiency makes the barrier to entry very low, a user simply needs to have hard drive space to mine BURST. This results in the BURST network being highly decentralized. Notably, miners do not have to buy any special equipment to mine BURST, they just use spare hard drive space that was sitting unused, versus Bitcoin mining where specialized hardware that costs thousands of dollars is required. Bitcoin mining rigs often become obsolete with time, and also have no other use besides Bitcoin mining, whereas hard drive space used for BURST mining never becomes obsolete and can easily be freed up and used for storage by deleting the plot file. In summary, BURST is one of the most unique and fundamentally robust cryptocurrencies due to its PoC algorithm, which ensures decentralization while simultaneously guaranteeing energy efficiency and a low barrier for miner entry.
An extensive list of blockchain courses, resources and articles to help you get a job working with blockchain.
u/Maximus_no and me spent some time at work collecting and analyzing learning material for blockchain development. The list contains resources for developers, as well as business analysts/consultants looking to learn more about blockchain use-cases and solutions.
Certifications and Courses
IIB Council Link to course: IIB council : Certified Blockchain Professional C|BP is an In-Depth, Industry Agnostic, Hands-On Training and Certification Course specifically tailored for Industry Professionals and Developers interested in implementing emerging technologies in the Data-Driven Markets and Digitized Economies. The IIB Council Certified Blockchain Professional (C|BP) Course was developed to help respective aspiring professionals gain excessive knowledge in Blockchain technology and its implication on businesses. WHO IS IT FOR:
C|BP is developed in line with the latest industry trends to help current and aspiring Professionals evolve in their career by implementing the latest knowledge in blockchain technology. This course will help professionals understand the foundation of Blockchain technology and the opportunities this emerging technology is offering.
If you are a Developer and you are willing to learn blockchain technology this course is for you. You will learn to build and model Blockchain solutions and Blockchain-based applications for enterprises and businesses in multiple Blockchain Technologies.
This exam is designed for non-technical business professionals who require basic knowledge about Blockchain and how it will be executed within an organization. This exam is NOT appropriate for technology professionals seeking to gain deeper understanding of Blockchain technology implementation or programming.
A person who holds this certification demonstrates their knowledge of:
· What is Blockchain? (What exactly is it?) · Non-Technical Technology Overview (How does it work?) · Benefits of Blockchain (Why should anyone consider this?) · Use Cases (Where and for what apps is it appropriate?) · Adoption (Who is using it and for what?) · Future of Blockchain (What is the future?)
A person who holds this certification demonstrates their ability to:
· Architect blockchain solutions · Work effectively with blockchain engineers and technical leaders · Choose appropriate blockchain systems for various use cases · Work effectively with both public and permissioned blockchain systems
This exam will prove that a student completely understands:
· The difference between proof of work, proof of stake, and other proof systems and why they exist · Why cryptocurrency is needed on certain types of blockchains · The difference between public, private, and permissioned blockchains · How blocks are written to the blockchain · Where cryptography fits into blockchain and the most commonly used systems · Common use cases for public blockchains · Common use cases for private & permissioned blockchains · What is needed to launch your own blockchain · Common problems & considerations in working with public blockchains · Awareness of the tech behind common blockchains · When is mining needed and when it is not · Byzantine Fault Tolerance · Consensus among blockchains · What is hashing · How addresses, public keys, and private keys work · What is a smart contract · Security in blockchain · Brief history of blockchain · The programming languages of the most common blockchains · Common testing and deployment practices for blockchains and blockchain-based apps
A person who holds this certification demonstrates their ability to:
· Plan and prepare production ready applications for the Ethereum blockchain · Write, test, and deploy secure Solidity smart contracts · Understand and work with Ethereum fees · Work within the bounds and limitations of the Ethereum blockchain · Use the essential tooling and systems needed to work with the Ethereum ecosystem
This exam will prove that a student completely understands how to:
· Implement web3.js · Write and compile Solidity smart contracts · Create secure smart contracts · Deploy smart contracts both the live and test Ethereum networks · Calculate Ethereum gas costs · Unit test smart contracts · Run an Ethereum node on development machines
Basic course with focus on Bitcoin. After this course, you’ll know everything you need to be able to separate fact from fiction when reading claims about Bitcoin and other cryptocurrencies. You’ll have the conceptual foundations you need to engineer secure software that interacts with the Bitcoin network. And you’ll be able to integrate ideas from Bitcoin in your own projects.
· A mid / basic understanding of blockchain technology and its long-term implications for business, coupled with knowledge of its relationship to other emerging technologies such as AI and IoT · An economic framework for identifying blockchain-based solutions to challenges within your own context, guided by the knowledge of cryptoeconomics expert Christian Catalini · Recognition of your newfound blockchain knowledge in the form of a certificate of completion from the MIT Sloan School of Management — one of the world’s leading business schools Orientation Module: Welcome to Your Online Campus Module 1: An introduction to blockchain technology Module 2: Bitcoin and the curse of the double-spending problem Module 3: Costless verification: Blockchain technology and the last mile problem Module 4: Bootstrapping network effects through blockchain technology and cryptoeconomics Module 5: Using tokens to design new types of digital platforms Module 6: The future of blockchain technology, AI, and digital privacy
· A mid / basic understanding of what blockchain is and how it works, as well as insights into how it will affect the future of industry and of your organization. · The ability to make better strategic business decisions by utilizing the Oxford Blockchain Strategic framework, the Oxford Blockchain Regulation framework, the Oxford Blockchain Ecosystem map, and drawing on your knowledge of blockchain and affiliated industries and technologies. · A certificate of attendance from Oxford Saïd as validation of your newfound blockchain knowledge and skills, as well as access to a global network of like-minded business leaders and innovators. Module 1: Understanding blockchain Module 2: The blockchain ecosystem Module 3: Innovations in value transfer Module 4: Decentralized apps and smart contracts Module 5: Transforming enterprise business models Module 6: Blockchain frontiers
[Proof of Work] - very short, cuz it's well-known.  Bitcoin - to generate a new block miner must generate hash of the new block header that is in line with given requirements. Others: Ethereum, Litecoin etc. [Hybrid of PoW and PoS]  Decred - hybrid of “proof of work” and “proof of stake”. Blocks are created about every 5 minutes. Nodes in the network looking for a solution with a known difficulty to create a block (PoW). Once the solution is found it is broadcast to the network. The network then verifies the solution. Stakeholders who have locked some DCR in return for a ticket* now have the chance to vote on the block (PoS). 5 tickets are chosen pseudo-randomly from the ticket pool and if at least 3 of 5 vote ‘yes’ the block is permanently added to the blockchain. Both miners and voters are compensated with DCR : PoS - 30% and PoW - 60% of about 30 new Decred issued with a block. * 1 ticket = ability to cast 1 vote. Stakeholders must wait an average of 28 days (8,192 blocks) to vote their tickets. [Proof of Stake]  Nxt - The more tokens are held by account, the greater chance that account will earn the right to generate a block. The total reward received as a result of block generation is the sum of the transaction fees located within the block. Three values are key to determining which account is eligible to generate a block, which account earns the right to generate a block, and which block is taken to be the authoritative one in times of conflict: base target value, target value and cumulative difficulty. Each block on the chain has a generation signature parameter. To participate in the block's forging process, an active account digitally signs the generation signature of the previous block with its own public key. This creates a 64-byte signature, which is then hashed using SHA256. The first 8 bytes of the resulting hash are converted to a number, referred to as the account hit. The hit is compared to the current target value(active balance). If the computed hit is lower than the target, then the next block can be generated.  Peercoin (chain-based proof of stake) - coin age parameter. Hybrid PoW and PoS algorithm. The longer your Peercoins have been stationary in your account (to a maximum of 90 days), the more power (coin age) they have to mint a block. The act of minting a block requires the consumption of coin age value, and the network determines consensus by selecting the chain with the largest total consumed coin age. Reward - minting + 1% yearly.  Reddcoin (Proof of stake Velocity) - quite similar to Peercoin, difference: not linear coin-aging function (new coins gain weight quickly, and old coins gain weight increasingly slowly) to encourage Nodes Activity. Node with most coin age weight have a bigger chance to create block. To create block Node should calculate right hash. Block reward - interest on the weighted age of coins/ 5% annual interest in PoSV phase.  Ethereum (Casper) - uses modified BFT consensus. Blocks will be created using PoW. In the Casper Phase 1 implementation for Ethereum, the “proposal mechanism" is the existing proof of work chain, modified to have a greatly reduced block reward. Blocks will be validated by set of Validators. Block is finalised when 2/3 of validators voted for it (not the number of validators is counted, but their deposit size). Block creator rewarded with Block Reward + Transaction FEES.  Lisk (Delegated Proof-of-stake) - Lisk stakeholders vote with vote transaction (the weight of the vote depends on the amount of Lisk the stakeholder possess) and choose 101 Delegates, who create all blocks in the blockchain. One delegate creates 1 block within 1 round (1 round contains 101 blocks) -> At the beginning of each round, each delegate is assigned a slot indicating their position in the block generation process -> Delegate includes up to 25 transactions into the block, signs it and broadcasts it to the network -> As >51% of available peers agreed that this block is acceptable to be created (Broadhash consensus), a new block is added to the blockchain. *Any account may become a delegate, but only accounts with the required stake (no info how much) are allowed to generate blocks. Block reward - minted Lisks and transaction fees (fees for all 101 blocks are collected firstly and then are divided between delegates). Blocks appears every 10 sec.  Cardano (Ouroboros Proof of Stake) - Blocks(slots) are created by Slot Leaders. Slot Leaders for N Epoch are chosen during n-1 Epoch. Slot Leaders are elected from the group of ADA stakeholders who have enough stake. Election process consist of 3 phases: Commitment phase: each elector generates a random value (secret), signs it and commit as message to network (other electors) saved in to block. -> Reveal phase: Each elector sends special value to open a commitment, all this values (opening) are put into the block. -> Recovery phase: each elector verifies that commitments and openings match and extracts the secrets and forms a SEED (randomly generated bytes string based on secrets). All electors get the same SEED. -> Follow the Satoshi algorithm : Elector who have coin which corresponded to SEED become a SLOT LEADER and get a right to create a block. Slot Leader is rewarded with minted ADA and transactions Fee.  Tezos (Proof Of Stake) - generic and self-amending crypto-ledger. At the beginning of each cycle (2048 blocks), a random seed is derived from numbers that block miners chose and committed to in the penultimate cycle, and revealed in the last. -> Using this random seed, a follow the coin strategy (similar to Follow The Satoshi) is used to allocate mining rights and signing rights to stakeholders for the next cycle*. -> Blocks are mined by a random stakeholder (the miner) and includes multiple signatures of the previous block provided by random stakeholders (the signers). Mining and signing both offer a small reward but also require making a one cycle safety deposit to be forfeited in the event of a double mining or double signing. · the more coins (rolls) you have - the more your chance to be a minesigner.  Tendermint (Byzantine Fault Tolerance) - A proposal is signed and published by the designated proposer at each round. The proposer is chosen by a deterministic and non-choking round robin selection algorithm that selects proposers in proportion to their voting power. The proposer create the block, that should be validated by >2/3 of Validators, as follow: Propose -> Prevote -> Precommit -> Commit. Proposer rewarded with Transaction FEES.  Tron (Byzantine Fault Tolerance) - This blockhain is still on development stage. Consensus algorithm = PoS + BFT (similar to Tendermint): PoS algorithm chooses a node as Proposer, this node has the power to generate a block. -> Proposer broadcasts a block that it want to release. -> Block enters the Prevote stage. It takes >2/3 of nodes' confirmations to enter the next stage. -> As the block is prevoted, it enters Precommit stage and needs >2/3 of node's confirmation to go further. -> As >2/3 of nodes have precommited the block it's commited to the blockchain with height +1. New blocks appears every 15 sec.  NEO (Delegated Byzantine Fault Tolerance) - Consensus nodes* are elected by NEO holders -> The Speaker is identified (based on algorithm) -> He broadcasts proposal to create block -> Each Delegate (other consensus nodes) validates proposal -> Each Delegate sends response to other Delegates -> Delegate reaches consensus after receiving 2/3 positive responses -> Each Delegate signs the block and publishes it-> Each Delegate receives a full block. Block reward 6 GAS distributed proportionally in accordance with the NEO holding ratio among NEO holders. Speaker rewarded with transaction fees (mostly 0). * Stake 1000 GAS to nominate yourself for Bookkeeping(Consensus Node)  EOS (Delegated Proof of Stake) - those who hold tokens on a blockchain adopting the EOS.IO software may select* block producers through a continuous approval voting system and anyone may choose to participate in block production and will be given an opportunity to produce blocks proportional to the total votes they have received relative to all other producers. At the start of each round 21 unique block producers are chosen. The top 20 by total approval are automatically chosen every round and the last producer is chosen proportional to their number of votes relative to other producers. Block should be confirmed by 2/3 or more of elected Block producers. Block Producer rewarded with Block rewards. *the more EOS tokens a stakeholder owns, the greater their voting power [The XRP Ledger Consensus Process]  Ripple - Each node receives transaction from external applications -> Each Node forms public list of all valid (not included into last ledger (=block)) transactions aka (Candidate Set) -> Nodes merge its candidate set with UNLs(Unique Node List) candidate sets and vote on the veracity of all transactions (1st round of consensus) -> all transactions that received at least 50% votes are passed on the next round (many rounds may take place) -> final round of consensus requires that min 80% of Nodes UNL agreeing on transactions. It means that at least 80% of Validating nodes should have same Candidate SET of transactions -> after that each Validating node computes a new ledger (=block) with all transactions (with 80% UNL agreement) and calculate ledger hash, signs and broadcasts -> All Validating nodes compare their ledgers hash -> Nodes of the network recognize a ledger instance as validated when a 80% of the peers have signed and broadcast the same validation hash. -> Process repeats. Ledger creation process lasts 5 sec(?). Each transaction includes transaction fee (min 0,00001 XRP) which is destroyed. No block rewards. [The Stellar consensus protocol]  Stellar (Federated Byzantine Agreement) - quite similar to Ripple. Key difference - quorum slice. [Proof of Burn]  Slimcoin - to get the right to write blocks Node should “burn” amount of coins. The more coins Node “burns” more chances it has to create blocks (for long period) -> Nodes address gets a score called Effective Burnt Coins that determines chance to find blocks. Block creator rewarded with block rewards. [Proof of Importance]  NEM - Only accounts that have min 10k vested coins are eligible to harvest (create a block). Accounts with higher importance scores have higher probabilities of harvesting a block. The higher amount of vested coins, the higher the account’s Importance score. And the higher amount of transactions that satisfy following conditions: - transactions sum min 1k coins, - transactions made within last 30 days, - recipient have 10k vested coins too, - the higher account’s Important score. Harvester is rewarded with fees for the transactions in the block. A new block is created approx. every 65 sec. [Proof of Devotion]  Nebulas (Proof of Devotion + BFT) - quite similar to POI, the PoD selects the accounts with high influence. All accounts are ranked according to their liquidity and propagation (Nebulas Rank) -> Top-ranked accounts are selected -> Chosen accounts pay deposit and are qualified as the blocks Validators* -> Algorithm pseudo-randomly chooses block Proposer -> After a new block is proposed, Validators Set (each Validator is charged a deposit) participate in a round of BFT-Style voting to verify block (1. Prepare stage -> 2. Commit Stage. Validators should have > 2/3 of total deposits to validate Block) -> Block is added. Block rewards : each Validator rewarded with 1 NAS. *Validators Set is dynamic, changes in Set may occur after Epoch change. [IOTA Algorithm]  IOTA - uses DAG (Directed Acyclic Graph) instead of blockchain (TANGLE equal to Ledger). Graph consist of transactions (not blocks). To issue a new transaction Node must approve 2 random other Transactions (not confirmed). Each transaction should be validate n(?) times. By validating PAST(2) transactions whole Network achieves Consensus. in Order to issue transaction Node: 1. Sign transaction with private key 2. choose two other Transactions to validate based on MCMC(Markov chain Monte Carlo) algorithm, check if 2 transactions are valid (node will never approve conflicting transactions) 3. make some PoW(similar to HashCash). -> New Transaction broadcasted to Network. Node don’t receive reward or fee. [PBFT + PoW]  Yobicash - uses PBFT and also PoW. Nodes reach consensus on transactions by querying other nodes. A node asks its peers about the state of a transaction: if it is known or not, and if it is a doublespending transaction or not. As follow : Node receives new transaction -> Checks if valid -> queries all known nodes for missing transactions (check if already in DAG ) -> queries 2/3 nodes for doublepsending and possibility -> if everything is ok add to DAG. Reward - nodes receive transaction fees + minting coins. [Proof of Space/Proof of Capacity]  Filecoin (Power Fault Tolerance) - the probability that the network elects a miner(Leader) to create a new block (it is referred to as the voting power of the miner) is proportional to storage currently in use in relation to the rest of the network. Each node has Power - storage in use verified with Proof of Spacetime by nodes. Leaders extend the chain by creating a block and propagating it to the network. There can be an empty block (when no leader). A block is committed if the majority of the participants add their weight on the chain where the block belongs to, by extending the chain or by signing blocks. Block creator rewarded with Block reward + transaction fees. [Proof of Elapsed Time (POET)]  Hyperledger Sawtooth - Goal - to solve BFT Validating Nodes limitation. Works only with intel’s SGX. PoET uses a random leader election model or a lottery based election model based on SGX, where the protocol randomly selects the next leader to finalize the block. Every validator requests a wait time from an enclave (a trusted function). -> The validator with the shortest wait time for a particular transaction block is elected the leader. -> The BlockPublisher is responsible for creating candidate blocks to extend the current chain. He takes direction from the consensus algorithm for when to create a block and when to publish a block. He creates, Finalizes, Signs Block and broadcast it -> Block Validators check block -> Block is created on top of blockchain.  Byteball (Delegated Byzantine Fault Tolerance) - only verified nodes are allowed to be Validation nodes (list of requirements https://github.com/byteball/byteball-witness). Users choose in transaction set of 12 Validating nodes. Validating nodes(Witnesses) receive transaction fees.  Nano - uses DAG, PoW (HashCash). Nano uses a block-lattice structure. Each account has its own blockchain (account-chain) equivalent to the account’s transaction/balance history. To add transaction user should make some HashCash PoW -> When user creates transaction Send Block appears on his blockchain and Receive block appears on Recipients blockchain. -> Peers in View receive Block -> Peers verify block (Double spending and check if already in the ledger) -> Peers achieve consensus and add block. In case of Fork (when 2 or more signed blocks reference the same previous block): Nano network resolves forks via a balance-weighted voting system where representative nodes vote for the block they observe, as >50% of weighted votes received, consensus achieved and block is retained in the Node’s ledger (block that lose the vote is discarded).  Holochain - uses distributed hash table (DHT). Instead of trying to manage global consensus for every change to a huge blockchain ledger, every participant has their own signed hash chain. In case of multi-party transaction, it is signed to each party's chain. Each party signs the exact same transaction with links to each of their previous chain entries. After data is signed to local chains, it is shared to a DHT where every neighbor node validate it. Any consensus algorithms can be built on top of Holochain.  Komodo ('Delegated' Delayed Proof of Work (dPoW)) - end-to-end blockchain solutions. DPoW consensus mechanism does not recognize The Longest Chain Rule to resolve a conflict in the network, instead the dPoW looks to backups it inserted previously into the chosen PoW blockchain. The process of inserting backups of Komodo transactions into a secure PoW is “notarization.” Notarisation is performed by the elected Notary nodes. Roughly every ten minutes, the Notary nodes perform a special block hash mined on the Komodo blockchain and take note of the overall Komodo blockchain “height”. The notary nodes process this specifc block so that their signatures are cryptographically included within the content of the notarized data. There are sixty-four “Notary nodes” elected by a stake-weighted vote, where ownership of KMD represents stake in the election. They are a special type of blockchain miner, having certain features in their underlying code that enable them to maintain an effective and cost-efcient blockchain and they periodically receives the privilege to mine a block on “easy difculty.” Source: https://www.reddit.com/CryptoTechnology/comments/7znnq8/my_brief_observation_of_most_common_consensus/ Whitepapers Worth Looking Into: IOTA -http://iotatoken.com/IOTA_Whitepaper.pdf NANO -https://nano.org/en/whitepaper Bitcoin -https://bitcoin.org/bitcoin.pdf Ethereum: https://github.com/ethereum/wiki/wiki/White-Paper Ethereum Plasma (Omise-GO) -https://plasma.io/plasma.pdf Cardano - https://eprint.iacr.org/2016/889.pdf
Delegated Proof of Stake (DPoS) is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it. DPoS is designed as an implementation of technology-based democracy, using voting and election process to protect blockchain from centralization and malicious usage. Proof-of-burn . Proof-of-Burn is one of the little-known methods that allows to receive tokens or right to mining of a certain cryptocurrency kind. It involves the annihilation of some amount of an alternative currency that was received together with the proof of work. Simply put, Proof-of-Burn is the evidence of the fact that today, the user Proof-of-Burn KostisKarantias1,AggelosKiayias1,3,andDionysisZindros1,2 1 IOHK 2 UniversityofAthens 3 UniversityofEdinburgh Abstract. Proof-of-burn Proof-Of-Burn In Cryptocurrencies. Proof-of-burn is a method for distributed consensus and an alternative to proof-of-work and proof-of-stake. It can also be used to bootstrap one cryptocurrency off of another. The idea is that miners/participants should show proof that they burnt some coins i.e., sent them to a verifiably unspendable address. The most widely used proof-of-work scheme is based on SHA-256 and was introduced as a part of Bitcoin. Some other hashing algorithms that are used for proof-of-work include Scrypt, Blake-256, CryptoNight, HEFTY1, Quark, SHA-3, scrypt-jane, scrypt-n, and combinations thereof.
This is a brief guide to some of the different forms of consensus algorithms used with crypto currencies. Which one is best? Watch the video and decide for yourself. Table of Contents: 00:08 Intro ... Sinovate Blockchain Data Storage & Infinity Masternodes With Proof-of-Burn Stability Website: https://sinovate.io/ You can check us out on Telegram: https://... This is the video of the public coin2 wallet meant to destroy coins being deleted. The user burns coins in the source blockchain and subsequently creates a proof-of-burn, a short string proving that the burn took place, which she then submits to the destination blockchain to be ... What is Proof of burn? How is this method different from proof of work and proof of stake? Cryptocurrencies reviews, ICOs, exchanges, gaming sites and payment methods. All things crypto on every ...