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Universal Oikos

I admit this reads a bit as a fiction but the ideas I am sketching below seem so clear to me that as I work out the intricate warps and woofs I quickly cobbled together, I don’t expect the basic conclusion to be shown erroneous. So read it at your own risk. The rewards however as the words reveal are already (t)here. Perhaps I am bat shit crazy but I just don’t think so. The advances that blockchains avalanche have already started to flake off. Others just play tether ball around the tree that might snow the next 100 years of evolutionary theory.
Joan Roughgarden has propounded an evolutionary theory of social selection to replace sexual selection and has advocated, advised, and added instances of her bottom up modeling procedure. This development in evolution studies, realizes objectively equal gender classifications formerly relegated and reduced to incidentally derived dimorphic status, latterly founding reproductions of natural selection through underdeterminations of offspring first rather than overdeterminations of parental investments and divestments. Her proposal met with profound disdain and dejection from those supposedly in the know. Blockchain technology appears to be evolving along the lines of a new algorithmically instantiated platform by AVALabs from increasingly familiar consensus protocols first sketched in 2018 by an invisible crew named Team Rocket. Roughgarden’s social selection as recognized and applied largely moved from and through animal species even-the-while plants remained in it’s rear view purview. A physical property that sports the model appears to be definitively recoverable from nature in the presumption of a potentially mutual cross gender pleasure via an unknown chemical mediator. Joan has suggested one such discoverable option but it turns out supplementally that by applying a version of the avalanche protocol towards achieving consensus within plant ecologies under social selection in analogy with human economies of blockchain at scale, new insights into empirically testable scenarios for evolutionary theory can be designed which obviates the need for a specific chemical in the sustainment of theoretical trajectories the model supports. There is a sustainable cross over through Nash’s idea of parallel machine control, his notion of a bargaining equilibrium, Roughgardian social selection, and programmatic avalanche metastability. I am only going to sketch — here and now — the communicabilities within.
Suzanne Simard tested and proved that plants can send carbon through their roots to other trees. The relation of plants ( and animals) in this network of relations provided by communication of chemicals through the mycelium has been called perhaps flippantly and humoursly the Wood Wide Web but as I shall show below the manifestable narrow waist of the metabstability as designed by AVA Labs in its production engine provides an architecture which when applied to Rougarden’s use of game theory can oscillate theoretical plant sexuality ( big vs small gamete) within and between plants in such way that implies that plants have genders, a prediction that can be empirically confirmed. There is more to blockchain evolution than meets the atomic-swapping eye. I suspect that there will be more and more applications of the snow family of protocols to science just as there are increasing instantiations in the blockchain (AVAlabs, BCH, Perlin) space.
The basic idea underlying social selection is that reproduction is not about the mating process temporally per say but rather is about cooperating to raise the most number of offspring. This cooperation may occur between parents without respect to sex but interestingly may also occur between species and subspecies. That is the contribution that blockchain technology provides to evolutionary theory. It is quite remarkable. Hermaphroditic trees may court each other by choosing not to revert to global competitive Nash selfish threat points but instead ‘opt-in’ to continue to choose cooperative joint bargaining and side payments strategically when a plant team fitness function is constructed by chemically agnostic (concentration gradient driven) transmission through a stable main mycelial network. Simard has shown that “mother trees” can direct carbon deferentially to their own offspring and thus as these parent individuals in some families may be either male or female both within and between the organisms themselves (multiple genders) it is possible for team work to arise ecologically ( in the space the distribution of trees on the ground landscapes) such that other species mother and father trees receive chemicals including carbon by differential inbreeding that draws other subspecific variants within the network being provisioned underground to their offspring by excluding non-familial relatives that have opted out of helping to raise offspring and decided to compete rather than cooperate and thus bifurcate in evolutionary time the genes fungi select when evolving the proximately extant networkable connections. If the parents use an avalanche like metastability format to distribute carbon through such a growing network ( sampling courted partners both within themselves and between individuals and adopting their carbon release kinematic) and the offspring have traits passed down by grown ancestors similar to begging in baby birds utilizing such, then trees using self-DNA ‘to pay’ (from the pay-off matrix operation in game theory ) ( which inhibits self growth and thus expands the places on the ground available for growth and reproduction) during the transmission, those so strategically cooperating can move up trophic levels the network builds out purely geographically. There is no group pleasure chemical involved in this model, instead only each individual’s DNA is incorporated which can be as narrow a margin as the heritable interpretation of that supramolecular chemical tolerates as a template biophysically. This will be explained in the sequel. That is the basic idea and thus while it make take some years before this idea is networked out, the basic idea is available for those who look beyond the negatively competitive aspects of oikos information and towards the cooperation we all need both as a species and as a humanity with others.
Unfortunately for our better-selves, there has been a value judgement marshaled against at least some of those sold on bitcoin among us. Commentators have challenged up-coming POS governed blockchains as being too complex and that when making a guess at where to place one’s $R&D, the promoted projection has been into POW tech not because it might be inherently a better platform to launch a distributed ledger in, but because the threshold to user adoption appears to them as literally a no-brainer. Some have made the bet that it is easier to develop POW functions etc. than POS ones, since one does not have to assume any cognitive interest in the user- validator beyond the required instructions ( 1 — plug in computer, 2 — go hash). While Kevin Sekniqi of AVALabs has said he has no universal composable theorem/argument of POS and POW, he has made the point on multiple times that POW networks can be embedded into POS systems. This means to me that any value judgement being applied against POS support equally applies to POW manifestations (when the entire universe of future design possibilities is included in reflection on those interests that regulate the decision of how to constitute the afforded applications). Now Microsoft has recently published a patent to use body activity as proof-of-work, saying that this will help reduce energy expenditures. Microsoft is trying to patent in on the decision bitcoiners made, that it has value— that they have been convinced of the bitcoin narrative and gone the last mile to adopt it as something they choose to do and be a part of. The POW operation proposed in the Microsoft patent potentially includes “ a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing advertisement or using certain internet services, can be used in the mining process.” while it is determining if work was done. We do not need these companies using our interest and decisions in agreeing to a narrative of what money, whether ideal or not is, to force and coerce our behavior based on a prior knowledge about our ideas, decisions and preferences we may have expanded on socially and communicated with others publicly. Microsoft may think this is not what they are doing but the application is clear in the example of the musicians who have already had their brain waves used to select notes. It is the artist when thinking of the note to be needed creatively that produces the wave the machine records, it is not the machine that creates the image the the user’s brain produces a wave thereof. We do not need new tech companies or new tech products deciding how we use and view social media, we need them to build tech that reflects how we like to use it, how we are pleased to use it independently of how some sovereign wishes it to be regardless of how free, how much money they have or are. If they had such a device then it seems that sooner than later some will start to create advertisements that manipulate not only our pleasures and pains but also our understandings. This would be much worse than bad. It is something I would resist. Humanity made clear the distinction between the physical actions of organic bodies and bodies made of physically active materials a few hundred years ago and yet the Microsoft patent in the name of creating something new slashes and hashes right through this distinction as if it was nothing but a virtual simulation of the large scale data synthesized from a prior analysis. Seems to me that this kind of POW centric thinking and planning on control over our user interaction with machines is just not the way to go into Web3.0. With Web 3 we will, among many other things accumulate smart assets and we will need a way to sort and use our own personal portfolio of them especially if one obtains them through non-fungible tokens.
The production, wilding, collection, and reuse of these valuable digitizations is going to be a increasingly demanded functionality on Web 3. With AVA these powerful processes individuated by different businesses will thus have a programmed utility under an action — reaction horizon of superfluid network changeabilities previously invisible to intelligent creators but ones we can understand. The details of such a lightweight scalable tech remains for me to provide to you but it is clear the motivation behind the Microsoft patent is not sound. I hope to show that one on the AVA network is. Here is quick guide to my idea: It is possible to produce a body activity proof-of-work such that there is absolutely no forced cognitive decision making that is required of the user. One does not have to force/coerce the user into making new and additional cognition than those already being done.
Sounds like I am saying you can eat your cake having haved it too. But in fact the example I am suggesting is one in which the user simply adapts to technology rather than adopts it and this can be done with a body activity POW aspect within and POS horizon.
In the case of using a hand gyro for digital asset search and retrieval ( it rotates in two independent degrees of freedom that provide manual overrides) the user simply is doing something that is independent of the hashing. Electricity is generating as a side effect of the searching activity. Muscle energy rather than visual/brain energy powers the device but by being on the periphery of the nervous system provides minimal interference with physiological function. From John Nash’s perspective of the worth of a machine, it makes no sense to build one that takes more time unless there is a need to multiply the kinds of tasks we want to compute and use the computer thus for. We do not need to a make a technology that forces one to compute and do tasks just because this is easier for the computer to instruct us to do — rather we should, I feel, build a machine that does the computations that we ‘ask’ it to do. That’s my ask for digital asset creation devices. We need devices that interact with us from the outside-in not the inside-out. The hand gryo when parallelizing the inputs and scaling to many users may be designed to speed up the rate at which machines take instructions. It looks at least initially to be able to make division as a decision requiring process since it can exist at the extremity of both locomotion and computation. This device is not a world computer — it will not compute anything but it might be made to sort digital assets. This is not something that Nash considered. New decentralized blockchain tech requires new ways to parallelize digital logic for it to correspond with our social and economic activities all the while attending to our personal actions similarly. Further it is helpful when evaluating what Nash said about bitcoin to understand how he thought about computers and mentality. He wrote a paper in 1954 called “Parallell Control” and he expressed the hope that computer part separations would result in self-programmable machines. While we are now able somewhat to create programs that program themselves there is no such thing as Von Neumann’s idea of computers making themselves that is in homology with biological evolution — there are no workable disciplines of applied metabiology here. There does appear to be such a thing as the evolution of social selection by avalanche protocol applications however. The idea of dividing currency into two coins that are bound dynamically to each other and separate formerly united capital in the system, as in POS, comes out of this general idea of Nash, however it does not lead to the extreme form that he had considered where he took the analogy quite literally and thought that the communication system of the computer and the mind’s parallels were organonically ( a term from the history of logic) and materially one and the same. This may have led to some of the symptoms he claims to have apperceived but it also gave him insight into the ideas of money before others followed on. Again, POW proponents may think that this is all just too complicated and that the gains are not worth the effort and that it is better and easier to demean past decisions but the point is that POW in POS makes Nash’ s ideal not into something directly tied to the entire global financial system nor into what Bitcoin is trying to do but rather into something that does all of that in a much more restricted way. We can directly map our human economics to animal and plant eco-evolutions and we can have a new future that is positive both for us and our interests as well as with those possessed by different species if we learn how to apply evolution rather than just discuss if it exists or not.
The POW proposal of Microsoft has an analogy in the social selection of the wood wide web that further draws out the intricacy we are entering in on as a society of the 21 century — in explaining how rusts — which are fungal parasites of trees genotypically evolved into their strange and weirdly acting genetic cell types. These parasites may have taken advantage of the behavior of the mycelial network to game the social selection system of already cooperating individuals and produce throughout its geographic spread, a new kind of production of chemically fit individuals, from the outside — as sovereigns — by attaching themselves to multiple species evo-ecologically. Thus while it is possible that the Microsoft proposal can be built, it will add the kind of complication that might be suggested rusts have already inserted into the ecosystem of life itself already here on earth. The value of new blockchain techs will not only come from those who have adopted it but from those who adapt DAGs( directed acyclic graphs) to many different activities that might be homologized in tree-wise topologies of time in space — otherwise known as phylogenies. So while this still reads as a fiction and I jumped to the end before I really began — I suggest you try it again, and again…while you gain away the pain the cooperation will appear — it is a joy to realize that the past is is just that — past. Or just ask me a question directly.
submitted by Brad_McFall to u/Brad_McFall [link] [comments]

List of moderately difficult skribbl words for your new friend group (1200+ words)

That is to say that this list contains words that this list contains words that:
  1. Usually aren't instantly guess-able (like star, apple, or Nike).
  2. Can be played with a group of acquaintances (I play with a group of interns at work to blow off time)
Created this list by modifying an existing difficult word list we found online and adding a bunch of new words. If you see a stupid difficult word, it was probably a word from the existing difficult word list that I forgot to remove. (amicable and reimbursement were the type of bs I removed lol).
abraham lincoln, accordion, accounting, acre, actor, adidas, advertisement, air conditioner, aircraft carrier, airport security, alarm clock, alcohol, alert, alice in wonderland, alphabet, altitude, amusement park, angel, angle, angry, ankle, apathetic, apathy, apparatus, applause, application, apron, archaeologist, archer, armada, arrows, art gallery, ashamed, asteroid, athlete, atlantis, atlas, atmosphere, attack, attic, audi, aunt, austin powers, australia, author, avalanche, avocado, award, baby, baby-sitter, back flip, back seat, baggage, baguette, baker, balance beam, bald, balloon, bamboo, banister, barbershop, barney, baseboards, bat, beans, beanstalk, beard, bed and breakfast, bedbug, beer pong, belt, beluga whale, berlin wall, bible, biceps, bikini, binder, biohazard, biology, birthday, biscuit, bisexual, bitcoin, black hole, blacksmith, bleach, blizzard, blueprint, bluetooth, blunt, blush, boa constrictor, bobsled, bonnet, book, bookend, bookstore, border, boromir, bottle cap, boulevard, boundary, bow tie, bowling, boxing, braces, brain, brainstorm, brand, bride, bride wig, bruise, brunette, bubble, bubble bath, bucket, buckle, buffalo, bugs bunny, bulldog, bumble bee, bunny, burrito, bus, bushel, butterfly, buzz lightyear, cabin, cable car, cadaver, cake, calculator, calendar, calf, calm, camera, cannon, cape, captain, captain america, car, car accident, carat, cardboard, carnival, carpenter, carpet, cartography, cartoon, cartoonist, castaway, castle, cat, catalog, cattle, cd, ceiling, cell, cellar, centimetre, centipede, century, chain mail, chain saw, chair, champion, chandelier, channel, chaos, charger, chariot, chariot racing, check, cheerleader, cheerleader dust, chef, chemical, cherub, chess, chevrolet, chick-fil-a, chicken coop, chicken legs, chicken nugget, chime, chimney, china, chisel, chord, church, circus tent, clamp, classroom, cleaning spray, cliff, cliff diving, climate, clique, cloak, clog, clown, clue, coach, coast, cockpit, coconut, coffee, coil, comedian, comfy, commercial, community, companion, company, compare, comparison, compromise, computer, computer monitor, con, confidant, confide, consent, constrictor, convenience store, conversation, convertible, conveyor belt, copyright, cord, corduroy, coronavirus, correct, cot, country, county fair, courthouse, cousin, cowboy, coworker, cramp, crane, cranium, crate, crayon, cream, creator, credit, crew, crib, crime, crisp, criticize, crop duster, crow's nest, cruise, cruise ship, crumbs, crust, cubicle, cubit, cupcake, curtain, cushion, customer, cutlass, czar, dab, daffy duck, dance, danger, darth vader, darts, dashboard, daughter, dead end, deadpool, deceive, decipher, deep, default, defect, degree, deliver, demanding, demon, dent, dentist, deodorant, depth, descendant, destruction, detail, detective, diagonal, dice, dictate, disco, disc jockey, discovery, disgust, dismantle, distraction, ditch, diver, diversify, diversity, diving, divorce, dizzy, dodge ball, dog, dolphin, donald trump, doorbell, doppelganger, dorsal, double, doubloon, doubt, doubtful, download, downpour, dragon, drain, dream, dream works, dress shirt, drift, drip, dripping, drive-through, drought, drowning, drugstore, dryer, dryer sheet, dryer sheets, dugout, dumbbell, dumbo, dust, dust bunny, duvet, earache, earmuffs, earthquake, economics, edge, edit, education, eel, effect, egg, eiffel tower, eighteen-wheeler, electrical outlet, elf, elope, emigrate, emotions, emperor, employee, enemy, engaged, equation, error, eureka, everglades, evolution, exam, exercise, exhibition, expired, explore, exponential, extension, extension cord, eyeball, fabric, factory, fad, fade, fake flowers, family tree, fan, fast food, faucet, feather, feeder road, feeling, ferris wheel, fiddle, figment, finding nemo, firefighter, firefox, fireman, fireman pole, fireplace, fireside, fireworks, first class, first mate, fish bone, fishing, fizz, flag, flat, flavor, flight, flip flops, flock, florist, flotsam, flowchart, flower, flu, flute, flutter, flying saucer, fog, foil, food court, football player, forklift, form, forrest gump, fossil, fowl, fragment, frame, fresh water, freshwater, friction, fries, front, frost, fuel, full, full moon, fun, fun house, funnel, fur, galaxy, gallon, gallop, game, gamer, garden, garden hose, gas station, gasoline, gavel, gentleman, geologist, germ, germany, geyser, giant, ginger, giraffe, gladiator, glasses, glitter, glue, glue stick, goalkeeper, goatee, goblin, gold, gold medal, golden retriever, gondola, good-bye, government, gown, graduation, grain, grandpa, gratitude, graveyard, gravity, great-grandfather, grenade, grill, grim reaper, groom, groot, group, guess, guillotine, gumball, guru, gymnast, hail, hair dryer, haircut, half, hand soap, handful, handle, hang, hang glider, hang ten, harry potter, hawaii, hay wagon, hearse, heater, heaven, helmet, hermit crab, high heel, high tops, highchair, hitler, hockey, homework, honk, hoodies, hoop, hopscotch, hot, hot dog, hot fuzz, hot tub, hotel, houseboat, human, humidity, hunter, hurdle, husband, hut, hydrant, hydrogen, hypothermia, ice, ice cream cone, ice fishing, icicle, idea, igloo, illuminati, implode, important, improve, in-law, incisor, income, income tax, index, inertia, infect, inglorious bastards, inside out, insurance, interception, interference, interject, internet, invent, invisible, invitation, iron man, ironic, irrational, irrigation, isaac newton, island, ivy, ivy full, jackhammer, japan, jaw, jazz, jedi, jellyfish, jet lag, jig, jigsaw, joke, joker, journal, juggle, jump rope, jungle, junk, junk drawer, junk mail, justice, kangaroo, ketchup, kill bill, killer, kilogram, kim possible, kiss, kitten, kiwi, kit-kat, kneel, knight, koala, lace, lady bug, ladybug, lamp, lance, landfill, landlord, lap, laptop, last, laundry detergent, layover, leak, leap year, learn, leather, lebron james, lecture, legolas, leprechaun, letter, letter opener, lettuce, level, lice, lichen, lie, lifeguard, lifejacket, lifestyle, light, lightning, lightning mcqueen, lightsaber, limit, lion, lipstick, living room, lobster, logo, loiterer, lollipop, loonie, lord of the rings, lottery, love, loveseat, loyalty, lullaby, lumberjack, lumberyard, lunar eclipse, lunar rover, lung, lyrics, macaroni, machete, machine, macho, magnet, mailbox, makeup, mammoth, manatee, mark zuckerberg, martian, mascot, mascot fireman, mask, mast, mastercard, mat, mayhem, mechanic, megaphone, member, memory, mercedes benz, mermaid, meteor, michael scott, michelangelo, microscope, microsoft, microsoft word, microwave, midnight, migrate, millionaire, mime, mine, mine car, miner, minivan, mirror, missile, mitten, mohawk, moisturizer, molar, mold, mom, monsoon, monster, monsters inc, mooch, moonwalk, moth, mount rushmore, mozart, mr potato head, mulan, mummy, music, mysterious, myth, name, nanny, naruto, navigate, negotiate, neighborhood, nemo, nepal, nest, netflix, neutron, newsletter, night, nightmare, nike, north pole, nose, nostril, nurse, nutmeg, oar, obey, observatory, office, offstage, olive oil, olympics, one-way street, opaque, optometrist, orange juice, orbit, organ, organize, ornament, ornithologist, ounce, oven, owl, oyster, pacific ocean, pacifier, page, pail, pain, palace, pancakes, panda, panic, pantyhose, paper plate, paperclip, parade, paranoid, parent, parking garage, parley, parody, partner, password, pastry, patrick starr, pawnshop, peace, peacock, peanut, peasant, pelt, pen pal, pendulum, pepsi, periwinkle, personal, pest, pet store, petroleum, pharaoh, pharmacist, philosopher, phineas and ferb, phone, photo, piano, pickup truck, picnic, pigpen, pigtails, pile, pilgrim, pilot, pinboard, pineapple express, ping pong, pink panther, pipe, pirate, pizza, pizza sauce, plan, plank, plantation, plastic, playground, pleasure, plow, plumber, pocket, pocket watch, point, pokeball, pokemon, pole, police, pomp, pompous, pong, popeye, population, portfolio, positive, positive champion, post, post office, practice, president, preteen, prey, prime meridian, printer ink, prize, produce, professor, profit, promise, propose, protestant, psychologist, publisher, pumpkin, pumpkin pie, punching bag, punishment, punk, puppet, putty, quadrant, quarantine, quartz, queue, quicksand, quit, quiver, raccoon, race, raft, rage, rainbow, raindrop, rainwater, random, raphael, ratatouille, ratchet, ray, reaction, realm, ream, receipt, recess, record, recorder, recycle, referee, refund, regret, religion, remain, resourceful, rest stop, retail, retire, reveal, revenge, reward, rhyme, rhythm, rib, rick and morty, riddle, right, rim, rind, ringleader, risk, rival, robe, robot, rock band, rocket, rodeo, roller coaster, roommate, roundabout, rowboat, rubber, ruby, rudder, runt, rv, s'mores, safe, salmon, salt, sand castle, sandbox, sandbox bruise, sandpaper, santa claus, sap, sapphire, sash, sasquatch, satellite, saturn, sausage, saxophone, scarf, scatter, schedule, school, school bus, science, scissors, scooby doo, scrambled eggs, scream, screwdriver, script, scuba diving, scythe, seahorse, season, seat, seat belt, seed, serial killer, servant, sewer, shaft, shakespeare, shame, shampoo, sheep, sheets, shelter, sherlock holmes, shipwreck, shoelace, shopping cart, shotgun wedding, shower, shower curtain, shrew, shrink, shrink ray, sickle, sidekick, siesta, signal, silhouette, silt, simba, simpsons, skateboard, skating rink, ski goggles, ski lift, skip, skipping rope, skydiving, slack, sleep, sleet, slim shady, slipper, slump, snag, snapchat, sneeze, snooze, snore, snow globe, snowball, snowflake, soak, social distancing, socks, softball, solar eclipse, somersault, song, sophomore, soul, soulmate, soviet russia, space, space-time, spaceship, spaghetti, spare, speakers, spiderman, spirited away, sponge, spoon, spotify, spring, sprinkler, squat, stage, stage fright, stagecoach, stairs, staple, starbucks, starfish, startup, star trek, statement, stationery, statue of liberty, stay, steamboat, steel drum, stethoscope, stew, stewie griffin, sticky note, stingray, stockings, stork, storm trooper, story, stout, stowaway, stranger, strawberry, streamline, student, stuff, stun, submarine, sugar, suit, sun, sunburn, sunlight, sunscreen, superbad, superman, surfing, sushi, swamp, swarm, sweater, swim shorts, swing dancing, switzerland, swimming, syringe, system, tachometer, taco bell, tadpole, tag, tank, tattle, taxes, taxi, teabag, team, tearful, teenage mutant ninja turtle, teenager, teepee, telepathy, telephone booth, telescope, temper, ten, tesla, testify, tetris, thanos, the beatles, the dark knight, the prestige, theory, think, thread, thrift store, throne, ticket, tide, time, timeline, time machine, time zone, tin, tinting, tiptoe, tire, tissue box, toast, today, toddler, toilet paper, toll road, tomato sauce, tombstone, toothbrush, toothpaste, top hat, torch, tornado, toronto maple leafs, tourist, tournament, tow, tow truck, toy store, toy story, trademark, traffic jam, trail, trailer, train, train tracks, transformers, translate, transpose, trapped, trash bag, trash can, trawler, treatment, trench coat, tricycle, trip, trombone, truck, truck stop, tsunami, tub, tuba, tug, tugboat, turret, tutor, tutu, twang, twitter, umbrella, unemployed, united states, university, upgrade, vacation, vampire, van, vanilla, vanquish, vegan, vegetarian, vehicle, vein, venn diagram, vest, villain, violent, vision, vitamin, voice, voicemail, volleyball, wag, wall-e, wallet, wallow, wasabi, washing machine, water, water buffalo, water cycle, water vapor, wax, wealth, weather, wedding, wedding cake, weed, welder, werewolf, wet, wetlands, whale, whatsapp, whey, whip, whiplash, whisk, wifi, wig, wikipedia, win, wind, winnie the pooh, wish, witch, wizard, wolverine, woody, workout, world, wormhole, writhe, yacht, yak, yard, yardstick, yawn, yeti, yin yang, yoda, yodel, yolk, youtube, zamboni, zen, zero, zeus, zip code, zipper, zombie, zombieland, zoo
submitted by skribblwords to skribbl [link] [comments]

Proof Of Work Explained

Proof Of Work Explained
https://preview.redd.it/hl80wdx61j451.png?width=1200&format=png&auto=webp&s=c80b21c53ae45c6f7d618f097bc705a1d8aaa88f
A proof-of-work (PoW) system (or protocol, or function) is a consensus mechanism that was first invented by Cynthia Dwork and Moni Naor as presented in a 1993 journal article. In 1999, it was officially adopted in a paper by Markus Jakobsson and Ari Juels and they named it as "proof of work".
It was developed as a way to prevent denial of service attacks and other service abuse (such as spam on a network). This is the most widely used consensus algorithm being used by many cryptocurrencies such as Bitcoin and Ethereum.
How does it work?
In this method, a group of users competes against each other to find the solution to a complex mathematical puzzle. Any user who successfully finds the solution would then broadcast the block to the network for verifications. Once the users verified the solution, the block then moves to confirm the state.
The blockchain network consists of numerous sets of decentralized nodes. These nodes act as admin or miners which are responsible for adding new blocks into the blockchain. The miner instantly and randomly selects a number which is combined with the data present in the block. To find a correct solution, the miners need to select a valid random number so that the newly generated block can be added to the main chain. It pays a reward to the miner node for finding the solution.
The block then passed through a hash function to generate output which matches all input/output criteria. Once the result is found, other nodes in the network verify and validate the outcome. Every new block holds the hash of the preceding block. This forms a chain of blocks. Together, they store information within the network. Changing a block requires a new block containing the same predecessor. It is almost impossible to regenerate all successors and change their data. This protects the blockchain from tampering.
What is Hash Function?
A hash function is a function that is used to map data of any length to some fixed-size values. The result or outcome of a hash function is known as hash values, hash codes, digests, or simply hashes.
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The hash method is quite secure, any slight change in input will result in a different output, which further results in discarded by network participants. The hash function generates the same length of output data to that of input data. It is a one-way function i.e the function cannot be reversed to get the original data back. One can only perform checks to validate the output data with the original data.
Implementations
Nowadays, Proof-of-Work is been used in a lot of cryptocurrencies. But it was first implemented in Bitcoin after which it becomes so popular that it was adopted by several other cryptocurrencies. Bitcoin uses the puzzle Hashcash, the complexity of a puzzle is based upon the total power of the network. On average, it took approximately 10 min to block formation. Litecoin, a Bitcoin-based cryptocurrency is having a similar system. Ethereum also implemented this same protocol.
Types of PoW
Proof-of-work protocols can be categorized into two parts:-
· Challenge-response
This protocol creates a direct link between the requester (client) and the provider (server).
In this method, the requester needs to find the solution to a challenge that the server has given. The solution is then validated by the provider for authentication.
The provider chooses the challenge on the spot. Hence, its difficulty can be adapted to its current load. If the challenge-response protocol has a known solution or is known to exist within a bounded search space, then the work on the requester side may be bounded.
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Source-wiki
· Solution–verification
These protocols do not have any such prior link between the sender and the receiver. The client, self-imposed a problem and solve it. It then sends the solution to the server to check both the problem choice and the outcome. Like Hashcash these schemes are also based on unbounded probabilistic iterative procedures.
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Source-wiki
These two methods generally based on the following three techniques:-
CPU-bound
This technique depends upon the speed of the processor. The higher the processor power greater will be the computation.
Memory-bound
This technique utilizes the main memory accesses (either latency or bandwidth) in computation speed.
Network-bound
In this technique, the client must perform a few computations and wait to receive some tokens from remote servers.
List of proof-of-work functions
Here is a list of known proof-of-work functions:-
o Integer square root modulo a large prime
o Weaken Fiat–Shamir signatures`2
o Ong–Schnorr–Shamir signature is broken by Pollard
o Partial hash inversion
o Hash sequences
o Puzzles
o Diffie–Hellman–based puzzle
o Moderate
o Mbound
o Hokkaido
o Cuckoo Cycle
o Merkle tree-based
o Guided tour puzzle protocol
A successful attack on a blockchain network requires a lot of computational power and a lot of time to do the calculations. Proof of Work makes hacks inefficient since the cost incurred would be greater than the potential rewards for attacking the network. Miners are also incentivized not to cheat.
It is still considered as one of the most popular methods of reaching consensus in blockchains. Though it may not be the most efficient solution due to high energy extensive usage. But this is why it guarantees the security of the network.
Due to Proof of work, it is quite impossible to alter any aspect of the blockchain, since any such changes would require re-mining all those subsequent blocks. It is also difficult for a user to take control over the network computing power since the process requires high energy thus making these hash functions expensive.
submitted by RumaDas to u/RumaDas [link] [comments]

Assassin Ling and the tale of the Ox Assassin

Well, it's maintenance again! Meaning it's time for another shitpost from the future to keep you guys entertained before we get sucked back into our robotic and addicting routine of playing this god-forsaken game! Before I begin, I would like to thank the 4 people that built MAG Daddy Raegen. CG Emperor Raegen was NOT released in the future and the meta was saved from his unholy grasp. You are the true pioneers of the game. I would also like to give a shoutout to Evil Laughter 01 with the release of his favorite unit Rosa. I still have mine from the time I used to watch his videos and I would like to personally thank him for his amazing guides wherever he may be.

Who is Assassin Ling?

Today, we'll be talking about Assassin Ling, a Physical attackebuffedebuffer. She finally got a rework after losing the Unit Popularity contest 14 times in a row, getting beaten by Elena this year, twice by Esther, Ricardo, three times by Foo, Madam, Regina, and four times by Medius. Let's just say the u/FlipMethod had some of the best 4 years of his life. With the vengeance of a million daggers, Ling finally got reworked and re-released during the CNY event of 2033, the year of the Water Ox. And boy does she hit hard like one...

With the release of CG King Edge (FFIV) (yes, his sprite also has a chair), FFBE introduced a new mechanic called assassinate. Imagine Jump skills mixed with Ang's Shot skills. The user hides for one turn, then the player taps on which enemy they want to damage. Here's the kicker, the damage is dealt immediately after tapping. Meaning, you could build a 300 chain then cap it with an assassination. Assassin Ling had a Mega Magnus Ability called "Call of the Oxen Clan" where she grants all allies a 300% stat buff for 4 turns, and grants them the 2-hit assassinate Magnus ability "Oxassinate" (2 uses per battle). In effect, A.Ling would grant all her allies a free Hide ability that deals damage and an insane stat buff. Meaning you could cheese trials with thresholds, and turn your units into chain finishers. The downside is that assassinate skills can't chain with other assassinate skills because every unit will get highlighted for the player to tap on the enemy in succession. So if you used 3 assassinate abilities with Medius, Ricardo and Rosa, Medius' icon would appear, you tap, he deals damage, he gets back on the field, then Ricardo's icon would appear, you tap, etc. Assassin Ling's ability makes her a very niche unit that isn't broken or anything. Other utilities she has includes on-demand 70% debuffs, 180% buffs, 70% elemental resists and a couple of enfeeblements like poison and paralyze. Not impressed? Well what if I told you that these are her 6-star skills. Her 7 star skills include, but are not limited to: 74% debuffs, 220% buffs, and 110% fire, earth and thunder resist breaks. To top it off, her LB grants a 2-hit AoE Mirage. What she lacks in her kit is physical mitigation, magical mitigation, general mitigation, killers, stat reduction resistance buffs and status ailments resistance buff, again, a very niche character. A few years after she got released, they gave her EP Skills with some killers (human, beast, machine and dragon), awakened skills (more stat buffs and they added mitigation) and Transcendence Skills which change the way you use her altogether.

What makes her really good?

The Transcendence skills system (TSS) is an Esper enhancement type of system for units. You use points to unlock nodes that grant you abilities and stats. Getting Transcendence Points (TP) is ... shitty. There's a monthly trial that grants you coins that you use to buy Job Points that you use for your units. So let's say that you have an awesome unit like MAG Daddy Raegen. He's a physical attackesupport character in his character listings. You're going to need physical attacker job points to unlock the physical attacking skills, killers and ATK stat buffs from his tree, and support job points to unlock his buff skills. He does have a few random healing skills that use healer job points but those are just there as a big F-U to the players with love from Coomie. Now back to Ling. What makes her really broken is her TSS Skill called Oxen Slash: a 30x modifier Pyro Strike chaining family T-castable skill that powers up with consecutive uses up to 150x (5 times). Here's the kicker: she has another TSS skill that reapplies whatever buffs she had before dying after being raised. Had her 300% stat buff with a fully stacked Oxen Slash and killers but you died because of fixed damage? Raise, she got them back. She also gets magical provoke, magical cover, and innate 70% magical evasion and 30% physical evasion from her TSS tree. I managed to max out her tree and oh boy... was she interesting. I was lucky enough to pull enough of her to make two 9-stars Assassin Lings after spending 50 Bitcoin to buy Lapis, and an extra 12 Bitcoin to max both of them after 5 months of non-stop grinding. For reference, in 2033, 1 Bitcoin = $20,000 at the time of Ling's release and they reduced the price of purchasing Lapis. If you think this is bad, wait till I tell you about the time I sold 3 generations worth of my kids into unpaid, lifetime labor at Square Enix's cafeteria to raise enough money to pull for and build five 10-star CG Warrior of Light, Darkness, Void, Dreams, Nightmares, Dusk, Dawn and Sexiness Bunny Paladin Awakened Magitek Enhanced Triple Asura Akstar of the Alpha to Omega Super Nova Star or simply, Nova Akstar. But I digress.
2 Fully built Lings can clear every single content in the game released before 2033 period. However, you might need 4 of her own Ultimate Giga Three Mega Hyper Super Trust Master Rewards. Scorn of the quad-reborned moon? OTKO. Scorn of the scorn of the Re-awakened Iron Giant precursor of doom? 2TKO. Scorn of the Great Explosion Festival? Sorry buddy, but the game would crash whenever you entered that trial. Should've cleared it in 2022 when you had the chance!
Anyways, I will end my post with a huge congratulations to Elena and all the people who voted for her. Just know that because of you, Coomie delayed the release of a reworked Ling, and I'm now living in a cardboard box next to a telephone booth in North-West London eating nothing but the leftovers of Briton Fried Chicken found in dumpsters. Selling everything you own for a virtual character of the game you love not as much as your wife can really change your life. Be smart, vote Ling 2021.
Night out!

Edit: Formatting
submitted by NightWaIker to FFBraveExvius [link] [comments]

TokenClub Bi-Weekly Report — Issue 114(5.4–5.17)

TokenClub Bi-Weekly Report — Issue 114(5.4–5.17)

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Hello everyone, thank you for your continued interest and support. In the past two weeks, various tasks of TokenClub have been progressing steadily. The product development and community operation progress this week are as follows:
1. TokenClub Events
1)TokenClub & 499Block reached strategic cooperation in live broadcasting
On May 28th, TokenClub and 499Block reached a strategic cooperation to jointly build a live broadcast ecosystem in the vertical field of blockchain.
2)520e events
When 520 comes, TokenClub launches live interactive interaction. During the event, participate in interactive questions in the live broadcast room or forward the live poster to Twitter and the telegram group, and upload a screenshot to have the opportunity to extract 520, 1314 red envelope rewards

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3)Text version of live content is abailable on Medium
In order to better understand the live broadcast of TokenClub by overseas communities, we translated the live broadcast content into English and uploaded it to TokenClub’s Medium official account, so that the community’s small partners can view it.


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4)Preview: TokenClub’s self-media grandma is invited to participate in the golden financial theme live event
From May 29th to June 4th, Golden Finance will hold a five-day live broadcast of the theme of “Finding Double Coins”. Grandpa Coin will express his views on June 3, welcome to pay attention.

2.TokenClub Live
1) Summary
Recently, Binance Co-founder He Yi, TRON founder Sun Yuchen, Hobbit HBTC founder Ju Jianhua, OSL chairman Dave, BlockVC founding partner Xu Yingkai, Outlier Ventures founder amie Burke, Bitribe founder SKY, CryptoBriefing CEO Han Kao , Huarai Group / Vice President, Global Market and Business Leader Ciara, Guosheng Securities Blockchain Research Institute Sun Shuang, Tongtongtong Research Institute CEO Song Shuangjie, Jin Tiancheng Law Firm Senior Partner Yu Bingguang, Binance China Jiang Jinze, principal researcher of Blockchain Research Institute, Meng Yan, vice president of Digital Asset Research Institute, co-founder of Primitive Ventures & director of Coindesk advisory board-Dovey Wan, founding partner of Genesis Capital & co-founder of Kushen Wallet Ocean Liao Yangyang, Binance C2C-Kathy, Binance OTC-Coco, Binance Contract & Options-Justin, Binance VIP-Jennifer, Binance Broker-Jess, Binance Mining Pool-Denny, Harbin Institute of Technology Blockchain Research Executive Deputy Director Xu Zhifeng, dForce founder Yang Mindao, Mars Finance co-founder Shang Silin, Cobo & Yuchi co-founder Shenyu, well-known investor Xu Zhe, CasperLabs CEO Mrinal Manohar, CasperLabs co-founder Scott Walker, Chairman of Rock Tree Omer Ozden, Nova Club incubation team leader & Waterdrop Capital partner Zheng Yushan, Rolling Stone miner founder Alex Lam, BitUniverse coin founder Chen Yong, Odaily Planet Daily founder and CEO Mandy Wang Mengdie, Binance stablecoin BUSD project responsible Helen Tu and senior expert of TokenClub blockchain and cryptocurrency investment strategy-Zao Shen talks with you about blockchain things ~
On May 18, Block 101 Binance Key Account Manager Luna talked to Primitive Ventures co-founder, non-profit bitcoin development fund Hardcore Fund executive director, and Coindesk advisory board director-Dovey Wan, to understand “C and C How is the Goddess of Crypto Assets made? “Dovey Wan shared with us on asset allocation, investment judgment, entrepreneurship, DCEP, etc.


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On May 19, Block 101 Yingge talked with Sun Zeyu, the founding partner of Genesis Capital and co-founder of Kushen Wallet, to share the theme of “Blockchain Investment Experience”. This investor, who is rated as “reliable” by insiders, recommends that novices try not to touch contracts, do not stay overnight even when making contracts, be alert to risks, refuse gambling, and rationally analyze investments.

On May 20th, 499Block ’s two-year birthday carnival “Global Hot Chain, Keeping Together for Every Year” celebration was held in the TokenClub Live Room. The cross-border AMA Solitaire + popular day group anchor live video sharing, including Binance Co-founder He Yi, TRON founder Sun Yuchen, Hobbit HBTC founder Ju Jianhua, OSL chairman Dave, BlockVC founding partner Xu Yingkai, Outlier Ventures founder amie Burke, Bitribe founder SKY, CryptoBriefing CEO Han Kao, Huobi Group / Vice President Global Markets and Dozens of blockchain leaders from home and abroad, such as Ciara, the business leader, all appeared on the scene, and 499Block became a popular beauty angel group to help the interactive host.


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On May 20, Sun Shuang, senior researcher of Guosheng Securities Blockchain Research Institute, Song Shuangjie, Jin Tong, CEO of Tongzhengtong Research Institute were jointly invited by Lingang Xinyefang, Lingang Innovation Management School, and Binance China Blockchain Research Institute. Tian Bingguang Senior Partner Yu Bingguang, Binance China Blockchain Research Institute Chief Researcher Jiang Jinze, Vice President of Digital Assets Research Institute Meng Yan, and many experts talked about the “Critical Digital RMB DCEP” in the live broadcast, one A feast of intertwined thoughts is worth watching again!

On May 21st, Ocean Liao Yangyang, the founder of Block 101 Seven Seven Dialogue Force Field, focused on the “big enlightenment era of digital assets”, Ocean shared with us his entrepreneurial experience, the first pot of gold, public chain, currency circle and Analysis of the current market. Regarding the future of Bitcoin, Ocean feels that he can work hard towards the direction of digital gold and become a substitute or supplement for gold. He is determined to see more, because the ceiling of the entire industry is very high, and he still cannot see its end point. The index level is rising, far from being over.

On May 22, “In the name of the Pizza Festival, we came to a different live broadcast” Bringing Goods “”, which was organized by the girls in the 101-day group of the block: June 6, July 7, Sisi, Yingge, Qianjiangyue , Dialogue: Binance First Sister, Binance C2C-Kathy, Binance OTC-Coco, Binance Contract & Options-Justin, Binance VIP-Jennifer, Binance Broker-Jess, Binance Mining Pool-Denny. We have explained to us one by one about C2C, OTC, contract options, etc. If you are interested, please move to the live room.


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On May 22, Block 101 Sisi Dialogue Xu Zhifeng, executive deputy director of the Blockchain Research Center of Harbin Institute of Technology, shared the theme: “Strategy of Great Powers: Seizing New Highlands of Blockchain Technology”. He expressed his views on his own currency circle experience, entrepreneurship, blockchain technology, DECP, etc. Xu Zhifeng is very optimistic about the future development of blockchain. He said: “Ten years later, blockchain will become a very common industry. We are the Internet industry and have never changed.”

On May 23, the old Chinese doctor Zao Shen from the coin circle went online ~ The theme of this issue: If you want to be short, you must be able to sing first, and if you want to be long, you must be patient. If the meal is not fragrant, the game is not good, and the happiness of the past has drifted into the distance, just because the daily reading is still a loss, and the head is hurt. Don’t panic, the old Chinese doctor Zao Shen of the currency circle will adopt the Trinity Interventional Therapy and precise care to regenerate life. Don’t move quickly to the live room to see what “therapy” is.

On May 25, Block 101, July 7th conversation with dForce founder Yang Mindao, talked about “DeFi opportunities and challenges.” Yang Mindao believes that the four biggest benefits of DeFi are: programmability; non-custodial nature; non-licensing; composability. He believes that the current public chain market is seriously homogenized, and the most promising public chain is Ethereum. Ethereum is the best and largest in terms of developer group, ecology, and technological evolution, and can absorb the advantages of each public chain. At the same time, he is also extremely optimistic about DeFi, “DeFi application value is gradually verified, and the value of this type of token will gradually become more prominent.”

On May 26th, Mars Finance co-founder Shang Silin Hardcore Dialogue Cobo & Yuchi co-founder Shenyu and well-known investor Xu Zhe. The trend of “financialization” in the digital asset industry is becoming more and more obvious, and the friends of miners need to master more and more skills. Unveiling the mystery of hedging for everyone.

On May 26th, Nova Superstar Dialogue Phase 13 focused on the Silicon Valley star project CasperLabs, specially invited CasperLabs CEO Mrinal Manohar, CasperLabs co-founder Scott Walker, Rock Tree chairman Omer Ozden, and Nova Club incubation team leader Water Capital Partners Zheng Yushan, discuss CasperLbs together.
On May 26, Block 101 Sisi talked with the founder of the Rolling Stone Miner, Alex Lam, and took us into the “post-worker life” of a PhD in finance. Alex shared the reasons for entering the coin circle, the first pot of gold, mining, pitted pits, investment experience and opportunities in the digital currency industry. Alex said: Bitcoin exceeds US $ 100,000, and it will be in the second half of next year or the year after.
On May 27th, Block 101 Yingge talked with BitUniverse founder Chen Yong and shared the theme: “Who” needs grid trading. Chen Yong mainly introduced the currency trading tool of Bitcoin. In his view, grid trading has changed an investor’s concept-from stud into a batch of positions and positions. Regarding the price of Bitcoin, Chen Yong believes that the price of Bitcoin may reach one hundred thousand dollars around 2030.

On May 28, Block 101 Binance Mining Pool Wu Di talked to Mandai Wang Mengdie, founder of Planet Daily Odaily, to learn more about the process of “media entrepreneurs marching into the blockchain from venture capital circles”. Mandy believes that the core competence in the media industry is high-quality original content, which is the most basic but difficult to stick to. The initial focus of entering the mixed media industry of the dragon and dragon is to focus and amplify value.

On May 29th, Block 101 Qianjiangyue Dialogue Hellen Tu, the project leader of Binance Stablecoin BUSD project, talked with everyone about the stablecoin “Life and Death”, Hellen shared the stablecoin in detail, and published his own the opinion of. For details, please move to the live room.

On May 30th, Zaoshen came to share the theme: Dongfeng blowing, bullets flying, unlimited chase? In this issue, Zao Shen shared with you the recent international financial situation and various major events in the United States in the past week, which extended to the impact on the currency circle and answered various questions about investment strategies. Friends who want to know more details can move to the live room of Zao Shen.
3.TokenClub operation data
-Live data: 13 live broadcasts in the past two weeks, with over 800,000 views. TokenClub hosted a total of 870 live broadcasts with a total of 45.06 million views.
-Binary trade data: In the past two weeks, guess the rise and fall to participate in a total of 1268 times, the amount of participation exceeded 2 million TCT. At present, it is guessed that the rise and fall function has participated in a total of 1.11 million times, with a cumulative participation amount of 498 million TCT.
-Chat data: In the past two weeks, a total of 19271 messages have been generated. A total of 4.85 milliom messages have been launched since the function was launched.
-Mini-game data: The mini-game has participated in a total of 4212 times in the past two weeks. A total of 1,66 million self-functions have been online.
-Cut leeks game data together: Since the game was launched, the total number of user participation in the game was 962612 TCT total consumption was 6,27 million gift certificate total consumption was 15,95million and TCT mining output was 161496.
-TokenClub KOL data: Over the past two weeks, the total reading volume of the BTCGrandpa article has been viewed by more than 300,000 people.
-Social media data: At present, the number of Weibo official accounts is 18033 and the number of Twitter followers is 1332 and we have opened the official Medium account this week, welcome to follow.
-Telegram official group data: In the past 2 weeks, there were 238 chats in the group, and the total number of Telegram official groups is currently 2906.
-Medium data: Medium official account u/TokenClub has published 5 excellent articles, official announcements and updates are published in English, welcome to follow.
4.Communities
1)Overseas Community
TokenClub held an event for forwarding Twitter and telegram group chats for overseas users. Bitcoin halved in less than two weeks, overseas users are more active in the telegram group, and some friends are more concerned about Binance Block 101 live broadcast, aggregation exchange, TCT usage and other issues, the administrator responded in time.On May 12th, when Bitcoin was halved, TokenClub organized a forwarding Twitter, telegram group chat prize event and participating in a live question asking interactive prize event for overseas users. There are many live broadcast events in the near future. The live broadcast poster information will be released to overseas users as soon as possible. The follow-up TokenClub will translate and broadcast high-quality live broadcast content to Twitter and Medium. Bitcoin halved, overseas users are more active in the telegram group, and some partners are more concerned about block 101 live broadcast, bitcoin future price trend, TCT usage and other issues, the administrator responded in time in the group.


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2)Domestic community
Sweet Orange Club Weekly News
Last Friday, a holiday, the community opened the red envelope rain event, and brought a sincere gift to everyone while relaxing in the holiday. At the same time, it also sent the most sincere blessings to all mothers in the community on Mother’s Day. Thank you for your long-term support and help to the Orange Club community.

Hundred-day scheduled investment event (Phase II)
The fourth week of the second 100-day fixed investment plan held this week has been awarded, and everyone is still very active in this event. This week, the Bitcoin halving market was also opened in advance. The small partners participating in the fixed investment should now have a certain floating win, so we adopt the correct cycle investment strategy to believe that it can bring unexpected benefits to everyone.
Sign in the lottery.
On the evening of May 3rd and May 10th, TCT Fortune Free Academy carried out the 51st and 52nd week sign-in sweepstakes, and rewarded the small TCT partners who had always insisted on signing in. In these two sign-in sweepstakes, the lucky friends received 20–180TCT as a reward. In addition, during the lucky draw, the college friends also actively expressed their opinions on the topic of this year’s bull market.

The Leek Paradise Community Conference will continue as usual every Sunday at 20:00. During the conference, members will discuss recent hot topics, including gifts and blessings for Mother ’s Day, and the halving of Bitcoin everyone is paying attention to. At the end, the friends in the group also showed a rare enthusiasm at the first sight. It seems that the market still affects the mood. The members routinely started a red envelope rain to cheer for the participating partners and encourage everyone to maintain patience and confidence. Of course, at the same time, we are encouraging ourselves to see the community meeting next week. Come on!

TokenClub volunteer community, sign in red envelopes every day, as long as you sign in every day, you can get good benefits, friends join us quickly! In the past two weeks, the community has conducted active partners.
Volunteer community: Change to the currency circle consultation and pass the analysis of Grandma Coin and Panda analysts, support TokenClub in action, and continue to vote for TCT. In the last month, we have worked hard to learn the rain god’s strategy. We have doubled the coins in our hands. The community WeChat group has recently injected fresh students. We look forward to more people joining! Volunteer community, will continue to work hard for TokenClub
TCT has been listed on Binance、Okex、Gate.io、ZB-M、MXC、Biki、Coinex、BigOne、Coinbene、Cybex、SWFT、Loopring、Rootrex etc.
TokenClub website: www.tokenclub.com
Telegram:https://t.me/token\_club
submitted by tokenclubtct to u/tokenclubtct [link] [comments]

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.
  • Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority. BTC can be transferred electronically in a secure, verifiable, and immutable way.
  • Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all of the nodes in the Bitcoin network. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin’s whitepaper was published pseudonymously in 2008 by an individual, or a group, with the pseudonym “Satoshi Nakamoto”, whose underlying identity has still not been verified.
  • The Bitcoin protocol uses an SHA-256d-based Proof-of-Work (PoW) algorithm to reach network consensus. Its network has a target block time of 10 minutes and a maximum supply of 21 million tokens, with a decaying token emission rate. To prevent fluctuation of the block time, the network’s block difficulty is re-adjusted through an algorithm based on the past 2016 block times.
  • With a block size limit capped at 1 megabyte, the Bitcoin Protocol has supported both the Lightning Network, a second-layer infrastructure for payment channels, and Segregated Witness, a soft-fork to increase the number of transactions on a block, as solutions to network scalability.

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1. What is Bitcoin (BTC)?

  • Bitcoin is a peer-to-peer cryptocurrency that aims to function as a means of exchange and is independent of any central authority. Bitcoins are transferred electronically in a secure, verifiable, and immutable way.
  • Network validators, whom are often referred to as miners, participate in the SHA-256d-based Proof-of-Work consensus mechanism to determine the next global state of the blockchain.
  • The Bitcoin protocol has a target block time of 10 minutes, and a maximum supply of 21 million tokens. The only way new bitcoins can be produced is when a block producer generates a new valid block.
  • The protocol has a token emission rate that halves every 210,000 blocks, or approximately every 4 years.
  • Unlike public blockchain infrastructures supporting the development of decentralized applications (Ethereum), the Bitcoin protocol is primarily used only for payments, and has only very limited support for smart contract-like functionalities (Bitcoin “Script” is mostly used to create certain conditions before bitcoins are used to be spent).

2. Bitcoin’s core features

For a more beginner’s introduction to Bitcoin, please visit Binance Academy’s guide to Bitcoin.

Unspent Transaction Output (UTXO) model

A UTXO transaction works like cash payment between two parties: Alice gives money to Bob and receives change (i.e., unspent amount). In comparison, blockchains like Ethereum rely on the account model.
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Nakamoto consensus

In the Bitcoin network, anyone can join the network and become a bookkeeping service provider i.e., a validator. All validators are allowed in the race to become the block producer for the next block, yet only the first to complete a computationally heavy task will win. This feature is called Proof of Work (PoW).
The probability of any single validator to finish the task first is equal to the percentage of the total network computation power, or hash power, the validator has. For instance, a validator with 5% of the total network computation power will have a 5% chance of completing the task first, and therefore becoming the next block producer.
Since anyone can join the race, competition is prone to increase. In the early days, Bitcoin mining was mostly done by personal computer CPUs.
As of today, Bitcoin validators, or miners, have opted for dedicated and more powerful devices such as machines based on Application-Specific Integrated Circuit (“ASIC”).
Proof of Work secures the network as block producers must have spent resources external to the network (i.e., money to pay electricity), and can provide proof to other participants that they did so.
With various miners competing for block rewards, it becomes difficult for one single malicious party to gain network majority (defined as more than 51% of the network’s hash power in the Nakamoto consensus mechanism). The ability to rearrange transactions via 51% attacks indicates another feature of the Nakamoto consensus: the finality of transactions is only probabilistic.
Once a block is produced, it is then propagated by the block producer to all other validators to check on the validity of all transactions in that block. The block producer will receive rewards in the network’s native currency (i.e., bitcoin) as all validators approve the block and update their ledgers.

The blockchain

Block production

The Bitcoin protocol utilizes the Merkle tree data structure in order to organize hashes of numerous individual transactions into each block. This concept is named after Ralph Merkle, who patented it in 1979.
With the use of a Merkle tree, though each block might contain thousands of transactions, it will have the ability to combine all of their hashes and condense them into one, allowing efficient and secure verification of this group of transactions. This single hash called is a Merkle root, which is stored in the Block Header of a block. The Block Header also stores other meta information of a block, such as a hash of the previous Block Header, which enables blocks to be associated in a chain-like structure (hence the name “blockchain”).
An illustration of block production in the Bitcoin Protocol is demonstrated below.

https://preview.redd.it/m6texxicf3151.png?width=1591&format=png&auto=webp&s=f4253304912ed8370948b9c524e08fef28f1c78d

Block time and mining difficulty

Block time is the period required to create the next block in a network. As mentioned above, the node who solves the computationally intensive task will be allowed to produce the next block. Therefore, block time is directly correlated to the amount of time it takes for a node to find a solution to the task. The Bitcoin protocol sets a target block time of 10 minutes, and attempts to achieve this by introducing a variable named mining difficulty.
Mining difficulty refers to how difficult it is for the node to solve the computationally intensive task. If the network sets a high difficulty for the task, while miners have low computational power, which is often referred to as “hashrate”, it would statistically take longer for the nodes to get an answer for the task. If the difficulty is low, but miners have rather strong computational power, statistically, some nodes will be able to solve the task quickly.
Therefore, the 10 minute target block time is achieved by constantly and automatically adjusting the mining difficulty according to how much computational power there is amongst the nodes. The average block time of the network is evaluated after a certain number of blocks, and if it is greater than the expected block time, the difficulty level will decrease; if it is less than the expected block time, the difficulty level will increase.

What are orphan blocks?

In a PoW blockchain network, if the block time is too low, it would increase the likelihood of nodes producingorphan blocks, for which they would receive no reward. Orphan blocks are produced by nodes who solved the task but did not broadcast their results to the whole network the quickest due to network latency.
It takes time for a message to travel through a network, and it is entirely possible for 2 nodes to complete the task and start to broadcast their results to the network at roughly the same time, while one’s messages are received by all other nodes earlier as the node has low latency.
Imagine there is a network latency of 1 minute and a target block time of 2 minutes. A node could solve the task in around 1 minute but his message would take 1 minute to reach the rest of the nodes that are still working on the solution. While his message travels through the network, all the work done by all other nodes during that 1 minute, even if these nodes also complete the task, would go to waste. In this case, 50% of the computational power contributed to the network is wasted.
The percentage of wasted computational power would proportionally decrease if the mining difficulty were higher, as it would statistically take longer for miners to complete the task. In other words, if the mining difficulty, and therefore targeted block time is low, miners with powerful and often centralized mining facilities would get a higher chance of becoming the block producer, while the participation of weaker miners would become in vain. This introduces possible centralization and weakens the overall security of the network.
However, given a limited amount of transactions that can be stored in a block, making the block time too longwould decrease the number of transactions the network can process per second, negatively affecting network scalability.

3. Bitcoin’s additional features

Segregated Witness (SegWit)

Segregated Witness, often abbreviated as SegWit, is a protocol upgrade proposal that went live in August 2017.
SegWit separates witness signatures from transaction-related data. Witness signatures in legacy Bitcoin blocks often take more than 50% of the block size. By removing witness signatures from the transaction block, this protocol upgrade effectively increases the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second. As a result, SegWit increases the scalability of Nakamoto consensus-based blockchain networks like Bitcoin and Litecoin.
SegWit also makes transactions cheaper. Since transaction fees are derived from how much data is being processed by the block producer, the more transactions that can be stored in a 1MB block, the cheaper individual transactions become.
https://preview.redd.it/depya70mf3151.png?width=1601&format=png&auto=webp&s=a6499aa2131fbf347f8ffd812930b2f7d66be48e
The legacy Bitcoin block has a block size limit of 1 megabyte, and any change on the block size would require a network hard-fork. On August 1st 2017, the first hard-fork occurred, leading to the creation of Bitcoin Cash (“BCH”), which introduced an 8 megabyte block size limit.
Conversely, Segregated Witness was a soft-fork: it never changed the transaction block size limit of the network. Instead, it added an extended block with an upper limit of 3 megabytes, which contains solely witness signatures, to the 1 megabyte block that contains only transaction data. This new block type can be processed even by nodes that have not completed the SegWit protocol upgrade.
Furthermore, the separation of witness signatures from transaction data solves the malleability issue with the original Bitcoin protocol. Without Segregated Witness, these signatures could be altered before the block is validated by miners. Indeed, alterations can be done in such a way that if the system does a mathematical check, the signature would still be valid. However, since the values in the signature are changed, the two signatures would create vastly different hash values.
For instance, if a witness signature states “6,” it has a mathematical value of 6, and would create a hash value of 12345. However, if the witness signature were changed to “06”, it would maintain a mathematical value of 6 while creating a (faulty) hash value of 67890.
Since the mathematical values are the same, the altered signature remains a valid signature. This would create a bookkeeping issue, as transactions in Nakamoto consensus-based blockchain networks are documented with these hash values, or transaction IDs. Effectively, one can alter a transaction ID to a new one, and the new ID can still be valid.
This can create many issues, as illustrated in the below example:
  1. Alice sends Bob 1 BTC, and Bob sends Merchant Carol this 1 BTC for some goods.
  2. Bob sends Carols this 1 BTC, while the transaction from Alice to Bob is not yet validated. Carol sees this incoming transaction of 1 BTC to him, and immediately ships goods to B.
  3. At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.
  4. Now Carol will not receive his 1 BTC, as the network looks for transaction 12345 to ensure that Bob’s wallet balance is valid.
  5. As this particular transaction ID changed from 12345 to 67890, the transaction from Bob to Carol will fail, and Bob will get his goods while still holding his BTC.
With the Segregated Witness upgrade, such instances can not happen again. This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature won’t affect the transaction ID.
Since the transaction malleability issue is fixed, Segregated Witness also enables the proper functioning of second-layer scalability solutions on the Bitcoin protocol, such as the Lightning Network.

Lightning Network

Lightning Network is a second-layer micropayment solution for scalability.
Specifically, Lightning Network aims to enable near-instant and low-cost payments between merchants and customers that wish to use bitcoins.
Lightning Network was conceptualized in a whitepaper by Joseph Poon and Thaddeus Dryja in 2015. Since then, it has been implemented by multiple companies. The most prominent of them include Blockstream, Lightning Labs, and ACINQ.
A list of curated resources relevant to Lightning Network can be found here.
In the Lightning Network, if a customer wishes to transact with a merchant, both of them need to open a payment channel, which operates off the Bitcoin blockchain (i.e., off-chain vs. on-chain). None of the transaction details from this payment channel are recorded on the blockchain, and only when the channel is closed will the end result of both party’s wallet balances be updated to the blockchain. The blockchain only serves as a settlement layer for Lightning transactions.
Since all transactions done via the payment channel are conducted independently of the Nakamoto consensus, both parties involved in transactions do not need to wait for network confirmation on transactions. Instead, transacting parties would pay transaction fees to Bitcoin miners only when they decide to close the channel.
https://preview.redd.it/cy56icarf3151.png?width=1601&format=png&auto=webp&s=b239a63c6a87ec6cc1b18ce2cbd0355f8831c3a8
One limitation to the Lightning Network is that it requires a person to be online to receive transactions attributing towards him. Another limitation in user experience could be that one needs to lock up some funds every time he wishes to open a payment channel, and is only able to use that fund within the channel.
However, this does not mean he needs to create new channels every time he wishes to transact with a different person on the Lightning Network. If Alice wants to send money to Carol, but they do not have a payment channel open, they can ask Bob, who has payment channels open to both Alice and Carol, to help make that transaction. Alice will be able to send funds to Bob, and Bob to Carol. Hence, the number of “payment hubs” (i.e., Bob in the previous example) correlates with both the convenience and the usability of the Lightning Network for real-world applications.

Schnorr Signature upgrade proposal

Elliptic Curve Digital Signature Algorithm (“ECDSA”) signatures are used to sign transactions on the Bitcoin blockchain.
https://preview.redd.it/hjeqe4l7g3151.png?width=1601&format=png&auto=webp&s=8014fb08fe62ac4d91645499bc0c7e1c04c5d7c4
However, many developers now advocate for replacing ECDSA with Schnorr Signature. Once Schnorr Signatures are implemented, multiple parties can collaborate in producing a signature that is valid for the sum of their public keys.
This would primarily be beneficial for network scalability. When multiple addresses were to conduct transactions to a single address, each transaction would require their own signature. With Schnorr Signature, all these signatures would be combined into one. As a result, the network would be able to store more transactions in a single block.
https://preview.redd.it/axg3wayag3151.png?width=1601&format=png&auto=webp&s=93d958fa6b0e623caa82ca71fe457b4daa88c71e
The reduced size in signatures implies a reduced cost on transaction fees. The group of senders can split the transaction fees for that one group signature, instead of paying for one personal signature individually.
Schnorr Signature also improves network privacy and token fungibility. A third-party observer will not be able to detect if a user is sending a multi-signature transaction, since the signature will be in the same format as a single-signature transaction.

4. Economics and supply distribution

The Bitcoin protocol utilizes the Nakamoto consensus, and nodes validate blocks via Proof-of-Work mining. The bitcoin token was not pre-mined, and has a maximum supply of 21 million. The initial reward for a block was 50 BTC per block. Block mining rewards halve every 210,000 blocks. Since the average time for block production on the blockchain is 10 minutes, it implies that the block reward halving events will approximately take place every 4 years.
As of May 12th 2020, the block mining rewards are 6.25 BTC per block. Transaction fees also represent a minor revenue stream for miners.
submitted by D-platform to u/D-platform [link] [comments]

MXC AMA Recapitulation-Filenet

MXC AMA Recapitulation-Filenet

https://preview.redd.it/6u8t4y55nay41.png?width=1200&format=png&auto=webp&s=6ad7775ac648def445571a6a80e285f1c152a803

Guest: FN Global Community Rep,Andrew Chan

Host: Molly

Introduction:

Andrew:
Nice to meet you guys here,it's my honor to stand here speach for Filenet.Filenet(FN) is the world's first public chain of distributed storage application who has lauchned the mainet, and is also the world's first public chain of distributed storage application using DPOS + POC consensus mechanism.Filenet is dedicated to storing and distributing valuable content, rewarding miners in the form of mining to contribute idle bandwidth and storage. The mission of Filenet is to establish a powerful distributed data service system by connecting all idle storage to form, so any storage device that can connect to the Internet can participate in mining. Generally, Filenet is a super cloud system based on distributed storage and content sharing.

Questions from community:

Molly: Q1.What are the benefits of the FN project for business? What is the main role FN plays in business for five validation and security?
Andrew:
As we said just now,Filenet(FN) is the world's first public chain of distributed storage.
Filenet is dedicated to storing and distributing valuable content. The system provides a file promotion system. The more data is retrieved, the more popular it becomes, and the file can be mined.The DAO mechanism adopted by Filenet, in the system of Filenet, users need not pay for uploading and downloading, which greatly reduces the cost of enterprise server and bandwidth.Besides that Filenet is used to retrieve and distribute mining patterns, pledge a certain amount of deposit and provide a certain amount of storage space to participate in mining. The higher the miner's contribution, the higher the probability of a block.
Filenet is a leader in the field of distributed storage because of its unique consensus mechanism, business model, economic model, ecological strategy and governance structure, enabling blockchain storage to break out of the shackles and develop into a new format, and providing a key role for the development of other blockchain storage systems.
On the level of consensus, Filenet adopts the DPOS+POC mechanism as the consensus mechanism for distribution in the context of POC storage and mining, avoiding the direct contradiction between equipment efficiency and resource allocation, and greatly improving the mining mode in the blockchain 3.0 era.
The specific operation process of DPOS algorithm is that stakeholders, namely the Token holders and miners, vote to select Filenet Super Nodes through the election program, and then the Super Nodes in the block will be randomly pseudorandomly, and the Filenet Super Nodes can choose whether to produce blocks within a specified time.
As for smart contracts, Filenet is a common chain for developers that provides special programming primitives for DApp to interact with stored data.
These primitives are contained within the EVM (ethereum intelligent contract virtual machine). Thus, information about the location of data, storage nodes, and miners can also be accessed in smart contracts.
The world's first distributed storage DApp "Ztiao" developed based on Filenet network is now on the market. All chat data in this application will be stored in a fragmented form at any node in the world, transferred by private key, and the ecology in the application will be circulated and settled with Fn as payment token.
Filenet's smart contracts apply primarily to miners' coin holdings.The smart contracts we have developed may be rapidly realized through EVM (ethereum smart contract virtual machine) and solsea.
Filenet itself has the potential to implement an intelligent contract mechanism, and we believe that future versions of EVM and WASM will naturally integrate with the capabilities of Filenet and allow other main chains to benefit from Filenet.
In terms of data structure, the Filenet block saves all data trace parameters, and the data uploaded to Filenet is of various types and large quantities. While traditional linked list structures make blocks redundant and complex to express, Filenet USES a block chain data structure with Merkle tree and DAG (directed acyclic graph) structure.
The DAG structure is more flexible, more powerful, and faster than the traditional blockchain chain structure, greatly improving the efficiency of block packaging, thereby improving the performance of the Filenet network.
The Merkle tree does not require complete block information, but only the key Merkle node information to verify the block chain number filenet. IO page 10, a total of 24 data, which makes the node lighter and more energy and resources are devoted to business processing and providing services for the filenet network.
At the same time, Merkle tree can also simplify the verification process and further improve network performance.
Molly: Q2.Why does Filenet use the DPOS + POC consensus mechanism? What is the advantage?
Andrew:
As we all know,the core element of blockchain technology is the consensus mechanism. Currently, the most commonly used mechanisms include PoW (Proof-of-Work), PoS (Proof-of-Stake), DPoS (Delegated-Proof-of Stake), and PoC (Proof-of-Contribution). Proof of Work requires miners to solve complex cryptographic math problems and relies on computing power. The advantage of the system is that it is secure and reliable. Disadvantages are its limited capacity and the possibility of “51% attacks”. The Proof of Stake consensus mechanism selects miners according to how many coins he or she has. An immediate advantage is its low resource consumption. However, it opens itself to a range of attacks, such as nothing-at-stake, and also results in centralization since wealth brings more rewards and more decision-making power. In DPoS, the majority of people holding voting rights authorize a small number of nodes to act for them. The system’s merits are its high efficiency, throughput capacity and concurrency. However, the power is then concentrated in the hands of a few nodes, which is not safe. Proof of Contribution allocates mining and validating rights according to the contributions made by the nodes. The advantage of this system is that it does not waste resources thanks to its concept of selection based on resources provided to network. A disadvantage is that the calculation of contributions depends on specific scenarios. In the era of Blockchain 3.0, the consensus mechanisms are to advance under the principles of economy of resources, security focus and scalability, throughput capacity and concurrency.

https://preview.redd.it/krjv4rm9may41.png?width=1066&format=png&auto=webp&s=40875d9f7c76c5259faba1ad09f2396447231fa5
Molly: Q3.What is the main reason behind the formation of FN? Why do you think coins like FN should be in the Marketplace?
Andrew:
As I just said,Filenet is an IPFS incentive layer to reward miners for sharing their storage and networking resources.
Filenet is also a token which powers a distributed certification mechanism. It creates a cloud-level system for content-sharing dedicated to storing and distributing valuable content on IPFS,demand leaders to results. Filenet solve the problem of data distribution and storage.Why coins like FN should be in the marketplace?
This is easy to understand,why bitcoin should be in the market?All coins can be in the market for just one reason-the consensus.If there just one person who think FN is valueble,we cannot say this is consesus,but if there is 10000,or 1 billion who make consesus,then you can say,FN should be in the market.Fn happens to have so many users make the consesus.The number of people in Filenet community has reached 210000+,the autonomy community is up to 21,the global super nodes is over 51+,Our community is still growing,our consensus is also deepening,because we all believe in the future of FN.In short term,in the mining mode, on the one hand: the tokens will be locked, and the decrease in circulation can increase the value of the token; on the other hand: mining can also generate income.
On the long term,Filenet can provide commercial applications with commercial value. Giant Internet companies such as Tencent WeSee and Byte Dance with giant data amount will have requirements for massive storage. Filenet can provide distributed storage services to solve the problem. Companies need to pay and lock FN for the distributed storage services. In this way, the circulation of FN on the market can be controlled, and thereby the value can be appreciated.
Molly: Q4.Can ordinary users also participate in mining? If can participate, how much mining can ordinary user do? And please explain the role of FN Coin easily.
Andrew:
Ordinary people can also participate in mining,as long as you pledge 400FN,and provide 4T storage space,you can join to mining.And the specific details depend on the mining pool you joined,you can see these pictures for a detailed mining tutorial.

https://preview.redd.it/z9hr1knkmay41.png?width=864&format=png&auto=webp&s=61abf14e3e659430f8387915389e024a1523ad2e

https://preview.redd.it/g8r2hmgmmay41.png?width=864&format=png&auto=webp&s=d82d323958a9ff11761b7c165be0179d7aeb91d9
Molly: Q5.What's the future plan of Filenet?
Andrew:
In the 1.0 stage, Filenet is the first distributed storage application public chain on the mainnet, the first distributed storage application public chain on the exchange, and the first distributed storage application public chain using the DPOS + POC consensus mechanism.
Filenet 2.0 comprehensively solves the key shortcomings of centralized data service centers.
In Filenet3.0 stage, the vision can catch up with and surpass many leading projects and brands of the decentralized distributed storage track, such as Filecoin, IBM, Amazon, Maidsafe, and become the leader of the track.

Free-asking Session

Q1.What is the difficulty bomb solution? Can you tell us more about [email protected]
Andrew:

https://preview.redd.it/zghna15smay41.png?width=905&format=png&auto=webp&s=2f01912ecb429f6e543d0b74322f4c295b901015
difficulty bomb is a solution to to encourage the nodes of the entire network to contribute more storage space and bandwidth, the Filenet Foundation plans to implement the difficulty bomb program in stages from May 1, 2020.
Q2.Checking the website, I found that the transaction fees of FN coins are very low, and the transaction speed is also very high! Can you explain how the FILENET project can achieve such a high transaction rate at the lowest [email protected]
Andrew:
As I said just now,there are lots of ways to generate revennue,in short term Filenet can provide commercial applications with commercial value. Giant Internet companies such as Tencent WeSee and Byte Dance with giant data amount will have requirements for massive storage. Filenet can provide distributed storage services to solve the problem. Companies need to pay and lock FN for the distributed storage services. In this way, the circulation of FN on the market can be controlled, and thereby the value can be appreciated.And in long term Filenet is aim to encourage the nodes of the entire network to contribute more storage space and bandwidth, the Filenet Foundation plans to implement the difficulty bomb program in stages from May 1, 2020.
Q3.According to packaging node program, theywill recruit 105 packaging nodes worldwide. If 105 packaging nodes have been allocated, can I still participate in the activities of this packaging [email protected]
Andrew:
yes,of course,our paging nodes have proceed to the fifth issue,you can join us.
Q4.Why do people have to buy FN or hold it back? What is the FILENET team's plan to keep competing in the [email protected]
Andrew:
You could also refer to the eco mode and the apppreciation logic I've jsut share.
Q5.what are the benefits of $FN Long Term [email protected]
Andrew:
As we just shared: For long term, Filenet can provide commercial applications with commercial value. Giant Internet companies such as Tencent WeSee and Byte Dance with giant data amount will have requirements for massive storage. Filenet can provide distributed storage services to solve the problem. Companies need to pay and lock FN for the distributed storage services. In this way, the circulation of FN on the market can be controlled, and thereby the value can be appreciated.
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submitted by SimonZhu666 to MXCexchange [link] [comments]

ETH and EOS Will Continue to Face Congestion Problems — This Project Won’t

ETH and EOS Will Continue to Face Congestion Problems — This Project Won’t
https://preview.redd.it/4s9hat9znf341.png?width=587&format=png&auto=webp&s=4c544a57d23e9a0101f4adc154cae0f3b7923bc4

Protocol congestion is a perennial problem in the blockchain ecosystem. Various measures have been implemented to avert congestion, but most struggle to offer a long-term solution.

Protocols have tried increasing their block size to increase the number of transactions they can hold and decreasing block production time to increase block generation. Though these measures worked in the short-term, they soon reached their limit. Thus, nearly all existing protocols cannot compare their transaction rates to those of centralized platforms.
The blockchain ecosystem has experienced transaction delays, massive transaction fees, and other inconveniences as a result of congestion within blockchain protocols.
Now, protocols like Aelf are out to change this narrative.
This article explores the congestion issue in the blockchain system, specifically on the Ethereum and EOS protocols. It also explores why Aelf will not be affected by the problem of congestion.

More Users = More Transactions

According to a report by Deloitte, blockchain is changing the business landscape, causing industries to adjust their operations based on the solutions it offers. This is also being seen in governments. The report also highlights that blockchain is yet to reach its full potential.
Blockchain is growing significantly, and one of the best examples of this is the congestion in Ethereum. Back in 2017, one of the first signs of future congestion was the d’App, CryptoKitties, which caused massive congestion in the Ethereum network- at one point resulting in a six-fold increase in total network requests.

https://preview.redd.it/5nbs750tnf341.png?width=470&format=png&auto=webp&s=f060f3c596a99ab2cda654f59374b2fe124ca87f
These furry kittens were the source of great delays on the Ethereum network upon release | Source
It is also worth noting, that during the peak bull run in 2017, Bitcoin also suffered from a massively congested network and transaction time delays. The situation got so bad, some transactions took over two weeks to complete!
The delays were caused because Ethereum could only meet 15 transactions per second (tps) at the time. Even without CryptoKitties, the platform was eventually going to suffer massive delays as more people used their protocol.
Ethereum is now living the congested future of its platform as Tether transactions load its network with numerous requests that often leads to delays in the Ethereum Network. Despite increasing their block capacity by about 25%, it is not enough to meet the growing number of transactions on their platform.

Attempts Towards Greater Scalability

Over at EOS, things are not going as planned.
The protocol is among the networks that ushered in blockchain 3.0 promising faster transaction rates. This was achieved as EOS outperformed Ethereum and Bitcoin in transaction rates.
However, because of their network set up, their platform weakness was exposed in 2019 as EOS experienced a massive delay caused by a specialized Denial-of-Service (DoS) attack.
DoS attacks are successful when the targeted platform is flooded with numerous transaction requests; thus, legitimate requests cannot be processed in a good time. This can be further specialized when attackers use Distributed-Denial-of-Service, which specifically targets a single network or server, thus rendering the platform ineffective faster.
For EOS, their network weakness was exposed as the attack targeted the blockchain layer. The attacker posted so many deferred transactions that when the time came to process them (deferred are given priority over new transactions) that no new transactions could be processed The attack produced numerous trash transactions that made valid transactions useless. The attack was made via a d’App hosted on EOS.
Because the issue was not addressed since January, another attempt to slow down the network was successfully made. The plan was likely carried out to determine the limitations of the EOS network.
An airdrop was planned on the EOS network, where users would be rewarded with tokens if they frequently transferred EOS tokens into and out of the EOS network. The airdrop event created congestion because of the number of transactions being generated on the EOS network.
The congestion created on EOS on both instances can be attributed to the function of deferring transactions to a later time. This allows attackers to technically block other transactions for the period it will take to process all their ‘deferred’ transactions.

Aelf’s Simple Brilliance

Ethereum and EOS are both suffering congestion as a result of the growing number of transactions daily. These protocols are also likely to suffer congestion from planned attacks on their network.
Aelf drew lessons from both EOS and Ethereum to develop a platform that solves the issue of scalability.
On the issue of transaction rates, Aelf created a platform that achieves high tps. The tps are performed on-chain, and this is created through separation and specialization. Aelf’s protocol separates transactional data and computational dependency, which significantly impacts their tps.
Furthermore, Aelf implements parallel data processing through the separation of transactional data. This helps Aelf achieve even high tps on-chain.
The separation of transactional data is done using side chains. Aelf implements a branched-chain network as opposed to the single-chain system that is in use by both EOS and Ethereum. The branched-chain network allows Aelf to dedicate each side chain to a particular transaction type.
Aelf achieves its side chain specialization by using a “one chain to one type of contract” system. Therefore, one side chain can only process requests from one type of contract only. This makes the Aelf system highly specialized while still maintaining a simple structure.
Moreover, within the dedicated side chain, other side chains can be formed depending on the demand and needs of the network. This system resembles partitioning or sharding in database architecture and is known as “Tree Branch side chain extension” in the Aelf ecosystem.
The” Tree Branch side chain extension” acts as an emergency overflow system that protects Aelf from congestion by creating other side chains that can process transactions in case transaction requests outweigh Aelf’s capacity at the time.

https://preview.redd.it/8klki00vnf341.png?width=600&format=png&auto=webp&s=1d79d322c9d1376856ca1bb38e9688ba7bd0f7aa
A visual example of Aelf’s ‘Tree Branch’ | Source
Aelf’s side chains communicate through the main chain in the form of a Merkle tree root. Communication between the side chains is not direct. The information must pass through the filtering system of the mainchain to determine whether the data can be passed from one side chain to the other. The filtering process is based on the protocol’s guidelines.
These implementations deter deferred transactions, which makes it impossible for planned attacks to slow down the network through numerous “fake” transactions.
With Aelf’s set up, they are ahead in terms of scalability and security and, thus, a worthy choice for setting up a d’App.
Having seen the limitations of EOS and Ethereum, it is clear that their congestion problems are inevitable. Aelf remains the only platform that is immune to network congestion. The use of a side chain set up to isolate and categorize transactions is a simple yet brilliant idea implemented by the Aelf team, which assures Aelf of scalability throughout its lifetime. Aelf may have cemented themselves in blockchain history through its platform.
For more information of Aelf's platform, please follow this link.
#Aelf #DPoS #Blockchain #ParallelProcessing $ELF
Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advice in any situation. Please remember to DYOR before making any decisions.
♂️ Hi, my name’s Sal. If you found this article useful and would like to view my other work please be sure to clap and follow me on medium and LinkedIn!😎
submitted by Floris-Jan to aelfofficial [link] [comments]

About Dorfcoin

Let's get the technicals out of the way:
Name- Dorfcoin
Symbol- DORF
Algorithm- Scrypt (POW)
Block Target- 2.5 minutes
Total Coins- 84 million
Mining Reward- 20 coins per block (Halving at 210000 Blocks)
Retarget Difficulty- 2016 Blocks
Infrastructure- Lite version of Bitcoin
Premine- 5% (To cover server fees, bounties, and unforeseen expenses)
F.A.Q.
Who are we and why are we doing this?
We are a duo (I'm Andrew, Community Manager and she is Priya, Programmer) and I friggen love DF (She doesn't play anything other than Minecraft and Stardew Valley). Since Priya is having trouble finding work in programming and I'm doing nothing but playing DF and trading Crypto, I came up with the idea of mixing all these things together. And so, Dorfcoin was made!
Our plan. Like any good fortress, we set out a basic blueprint of where to take this cryptocurrency.
  1. Build wallet and miner for Linux- Completed!
  2. Create wallet for Windows- Completed!
  3. Create a miner for Windows- Completed!
  4. Create a wallet and miner for Android
  5. Have our coin listed on a Trade Depot (Exchange)
  6. Offer real products in exchange for Dorfcoin (Silver and Copper Ingots to start)
  7. Officially support a GPU miner for Linux/Windows/Mac- Windows Completed!
  8. Create a wallet and miner for iOS
  9. Create a casino minigame for Dorfcoin (on Windows, Linux, Android, and iOS)
  10. Rebuild wallet with built in CPU and GPU Solo/Pool mining with user friendliness in mind for Linux, Windows, and Mac
How can I make money off this?
By mining! No longer must you send Dorf miners to certain death to accumulate wealth. Simply download a Linux Wallet from here or a Windows Wallet from here.
For solo CPU Mining-
In your wallet, go to Help -> Debug Window -> Console and type in setgenerate true -(# of threads you want your processor to use). It should look like this, without the quotations; "setgenerate true -3" for 3 threads. Give it about 30 minutes to sync with our network and you'll begin mining!
For solo GPU Mining-
Download this package and follow the readme.
You may want to encrypt your wallet for safety, but be sure to write down the password should you do so- WE HAVE NO WAY OF RECOVERING YOUR PASSWORD IF YOU LOSE IT. There have been horror stories of bitcoin millionaires who can't access their fortune because they lost their wallet's password. You don't want to become one of these people.
Pool mining-
Throw this onto the config file of any stratum pool miner-
-o stratum+tcp://miningpool.thruhere.net:5516 -u Your wallet address here -p x
What makes us different?
We want to make cryptocurrency more accessible. And not just by adoption, but in mining as well. This is why we will make an app to mine Dorfcoin, though it cannot compete with a dedicated rig, pool mining with your phone will get people directly involved with Dorfcoin.
What are your thoughts on elves?
They're wusses. What do you mean they won't trade with me anymore? That wooden sculpture came from dead wood off my starting wagon- I didn't even murder any trees! (Yet).
More will be added as questions come up.
submitted by BobLordOfTheCows to dorfcoin [link] [comments]

New Type of Token Swap with Additional Bonus

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto. Yes, of course there are many new ways to earn crypto. Let's talk about one of them. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to CryptoReviews [link] [comments]

New Approach to Swap Tokens

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto? Yes, of course there are new ways to earn crypto. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to CryptoNews [link] [comments]

New Instruments on Crypto Market

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto? Yes, Of course there are new ways to earn crypto. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to CryptoNewsandTalk [link] [comments]

What types of Swap do you know?

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto in the Market? Yes, it’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to GGCrypto [link] [comments]

Swap as a New Kind of Airdrop

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto? Of course there are new ways to earn crypto. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to CryptoAirdrop [link] [comments]

Blockchain City with Futarchy, Merkel Tree and so on

P.S.: Just found an interesting thought about the possible use of blockchain in a global sense. All the text is quoted from here.

How profitable can this be

The value of land in a dense city like Paris can be $10k per square meter in an apartment building.
Undeveloped land can cost <$500 per hectare, or $0.05 per square meter of land.
If a 10 story building is put on top, and the building is a part of a big city, that $0.05 of land becomes worth $100 000. Even in a highly regulated market where buildings are more expensive than they need to be, it only costs around $25 000 to build the building. So the land itself is $75 000 per square meter. A 1.5 million % increase in the value of the land.

What are we doing

What makes a city valuable is that lots of people are invested at the same time. If we can coordinate many people's investments and decisions, then we can convert cheap land into a valuable city and everyone involved will be richer.
We can use a blockchain to record the ownership of land in the city before we have decided where to put the city.
We can use the futarchy to make any decisions that need to be made, like where to put the city.
We can use dominant assurance contracts to pay for big public goods, like a highway to the new city, and power cables, internet fiber, water, etc.

Legal and Tax advantages

When Amazon was looking for a city to establish it's headquarters, cities would compete for Amazon by giving special privileges. They offered tax and legal advantages.
Many countries would be very interested in having a new large city established on their undeveloped land. Countries would compete with each other to offer the best legal and tax advantages to convince us to put the city in their land.
This is a strategy already in practice by Mennonites for example. When they established their new cities, they make an agreement with the local government so that they could do schooling for their children differently. Mennonite communities are great for the economy, they create many job opportunities, so countries compete by offering this legal advantage.
Potentially we could make the city a free trade zone, and give automatic national residency to everyone who owns above some minimum amount of square meters in the city.

Database for storing land ownership

The current Merkel trie database is a tree where each node points to up to 16 other nodes. We want there to be a maximum depth for the Merkel trie, and we don't want to have to re-balance the trie.
tx types: divide a square, combine a square, and spend a square.
one transaction type that divides a square into 16 smaller squares, in a 4x4 grid. Then any of the 16 squares can be transferred individually. It costs a fee to divide into 16 because it is using up more space.
If one person buys up all 16 squares, they can make a different kind of tx to combine them into 1 bigger square, and they receive some sort of compensation for recovering space in the blockchain.
Each square records: who owns it.

Options for Land Distribution

  1. we could reward city blocks one a time in an outward infinite spiral from the middle. as rewards for proof of work.
  2. it could start out 100% owned by someone or some group of people. In this case, it would probably be merge-mined with Amoveo.
  3. some combination of the previous two.

Open questions

Should we release blocks of the city as the reward for finding new POW blocks? A block reward block would be great.
Instead of "real estate", what is this called? "fake estate"? "digital estate"?
submitted by uknowmn to Futarchy [link] [comments]

Blockchain City with Futarchy, Merkel Tree and so on

P.S.: Just found an interesting thought about possible use of blockchain in a global sense. All the text is quoted from here.

How profitable can this be

The value of land in a dense city like Paris can be $10k per square meter in an apartment building.
Undeveloped land can cost <$500 per hectare, or $0.05 per square meter of land.
If a 10 story building is put on top, and the building is a part of a big city, that $0.05 of land becomes worth $100 000. Even in a highly regulated market where buildings are more expensive than they need to be, it only costs around $25 000 to build the building. So the land itself is $75 000 per square meter. A 1.5 million % increase in the value of the land.

What are we doing

What makes a city valuable is that lots of people are invested at the same time. If we can coordinate many people's investments and decisions, then we can convert cheap land into a valuable city and everyone involved will be richer.
We can use a blockchain to record the ownership of land in the city before we have decided where to put the city.
We can use the futarchy to make any decisions that need to be made, like where to put the city.
We can use dominant assurance contracts to pay for big public goods, like a highway to the new city, and power cables, internet fiber, water, etc.

Legal and Tax advantages

When Amazon was looking for a city to establish it's headquarters, cities would compete for Amazon by giving special privileges. They offered tax and legal advantages.
Many countries would be very interested in having a new large city established on their undeveloped land. Countries would compete with each other to offer the best legal and tax advantages to convince us to put the city in their land.
This is a strategy already in practice by Mennonites for example. When they established their new cities, they make an agreement with the local government so that they could do schooling for their children differently. Mennonite communities are great for the economy, they create many job opportunities, so countries compete by offering this legal advantage.
Potentially we could make the city a free trade zone, and give automatic national residency to everyone who owns above some minimum amount of square meters in the city.

Database for storing land ownership

The current Merkel trie database is a tree where each node points to up to 16 other nodes. We want there to be a maximum depth for the Merkel trie, and we don't want to have to re-balance the trie.
tx types: divide a square, combine a square, and spend a square.
one transaction type that divides a square into 16 smaller squares, in a 4x4 grid. Then any of the 16 squares can be transferred individually. It costs a fee to divide into 16 because it is using up more space.
If one person buys up all 16 squares, they can make a different kind of tx to combine them into 1 bigger square, and they receive some sort of compensation for recovering space in the blockchain.
Each square records: who owns it.

Options for Land Distribution

  1. we could reward city blocks one a time in an outward infinite spiral from the middle. as rewards for proof of work.
  2. it could start out 100% owned by someone or some group of people. In this case, it would probably be merge-mined with Amoveo.
  3. some combination of the previous two.

Open questions

Should we release blocks of the city as the reward for finding new POW blocks? A block reward block would be great.
Instead of "real estate", what is this called? "fake estate"? "digital estate"?
submitted by uknowmn to BlockchainStartups [link] [comments]

Signal for Trading?

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto? Of course there are new ways to earn crypto. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to AltcoinTrader [link] [comments]

Swap As a New Kind of Airdrop

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto? Of course there are new ways to earn crypto. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment
submitted by Mindreactions to cryptophile [link] [comments]

What is a New Type of Swap?

There are a lot of opportunities to earn freebies in crypto – even by not actually doing anything to earn them in the first place.
Many popular cryptocurrencies have eagerly distributed their tokens for free: both to existing holders and to new ones. During the early days of Bitcoin there were numerous, and well-known, ways to get a few satoshis for free. In 2017-2018, during the boom of new crypto projects, some issuers distributed their tokens through airdrops. Others rewarded their loyal holders with additional payouts from the pools of investors they were bringing in.
On top of that, people interested in passive income have always been able to earn cryptocurrency via cloud mining or masternodes leasing. Those were the good ole days… If money didn’t grow on trees, it was growing in your cryptocurrency account. With those days gone, it begs the question:
Are There Any New Opportunities to Earn Crypto? Of course there are new ways to earn crypto. It’s called the swap bonus.
What’s a swap bonus?
Well, consider this: some projects these days are busy upgrading their ERC-20 smart contracts because many of these smart contracts are outdated. Let’s say a token was released in 2017; a lot has changed in the industry since then, let alone in the smart-contract itself.
Some bugs have been discovered and new opportunities for project development are making the smart contract update a necessity. With the necessity for upgrades and project fixes, crypto projects are deploying a new smart contract and swapping the tokens on old, existing wallets to newer ones, issued on the new smart contract. Some projects are rewarding their token holders during the snapshot day.
For example, a token called Kick, which has been around for 2 years, announced its smart contract upgrade will be supported by a tokens swap. Those who keep the tokens on their personal wallets will have a chance to receive bonuses, which can be as high as 150% for people who keep a considerable amount of Kick coins in their personal wallets.
Why are companies doing this, given the fact that a project does not really earn money in doing so? It’s because this type of transaction can increase the number of token holders and works better than other free distribution tools because if someone had invested in the project as an early supporter, they deserve to be rewarded much more than those who came in later.
Also worth noting for token issuer, the swap can be a good chance to recalculate the number of token holders, since many of them hold their funds on various exchanges. This activity is good opportunity to make them withdraw funds and become more visible to the token issuers.
The question is whether there will similar swap activity by other projects like Kick? The opportunities for both the core team and the token holders seems to be promising. It’s a good accounting of the investor base. And it’s a good opportunity to increase one’s crypto portfolio simply by holding a certain amount on a personal wallet instead of an exchange, without any trading and no risky investment.
submitted by Mindreactions to cryptophile [link] [comments]

Focus on the vision for Bitcoin, not just its price.

Preamble
The purpose of this post is not to discourage enthusiasm over the recent appreciation of Bitcoin. Everyone here is excited, and rightly so. I’ve put this together because I think people are getting a bit caught up in price mania and losing sight of the bigger picture.
The ideas I’ve pulled together here are pretty condensed as it is, so unfortunately I have no TLDR. I don't claim to have a prophecy to share, or concrete answers to questions about where Bitcoin will go in the future -- nobody does. But that doesn't mean there's nothing to talk about.
I would suggest reading slowly and giving your imagination time to picture or "render" things. There is no other way to grasp Bitcoin.
Final preamble: I know there are people in this sub who are here just for the gains -- they freely admit it, and they laugh at how "true believers" will be left holding the bag when they sell. My hope is that those of you who feel this way will have an open mind. You might see things in a new light, who knows?
Here we go…
The Medium is the Message
In the 1960s, a Canadian professor named Marshall McLuhan became widely known for his thorough analysis of the evolution of communication technologies. His central precept was that communication technologies have dramatic effects on populations regardless of the content they carry at any particular moment. The radio, for example, allowed private microphones to broadcast to widely distributed speakers, which enabled the amplification of private viewpoints on a public scale. This had profound effects on society that played out regardless of what particular messages were carried over particular radio frequencies at particular times.
McLuhan’s famous aphorism, “The Medium is the Message,” is a distillation of this precept. In point form: 1) each new communication technology changes the environment into which it is introduced; and 2) the net effect of a technology over time is both far more interesting and harder to discern than the effect of any particular use of that technology or phase of its development. In other words, it is harder to see the forest for the trees, but seeing the forest is everything.
So: what effect will Bitcoin have on the world over the long run? What is the meaning of Bitcoin?
The Roman Model
To understand where we might be going, we have to first understand how we got to where we are. In the West, our societies are founded on the Classical traditions which were seeded in Ancient Greece and “scaled” so to speak in Ancient Rome. McLuhan had a lot to say about this from a technological point of view:
The development of writing on lightweight media such as papyrus and parchment enabled the externalization of knowledge. Thus, the oral traditions of Ancient Greece were subsumed and replaced by written traditions which were far less lossy and could be refined over time. Writing on lightweight media also enabled the centralized control of vast resources over large distances, which would have been impossible using engraved stone or oral communication. This was perfected by the Romans and thrown into overdrive by Johannes Gutenberg's invention of the printing press around 1450.
In its abstract form, the Roman model takes the form of bureaucracy – hierarchical organization -- and this model has underpinned the structuring of society in the West for the past two thousand years. Look up "org chart" on Google Images if you can't picture one. Our societies are comprised of org charts within org charts within org charts -- try the following searches on Google Images: military org chart, bank org chart, government org chart, university org chart. Everything in our society is centralized, bureaucratized, and nested within the context of the nation state which is run by a central bureaucracy called the government, itself divided into departments within departments, orgs within orgs.
This is not to say that humans didn't organize hierarchically before ancient Rome -- of course they did, as do apes, dogs, chickens, etc. However, in a social hierarchy such as a tribe, there is a scale limit (Dunbar's number, 150) because each member must know his place and his role as well as the places and roles of all other members. The hierarchy lives inside its members' minds and looks more like a swarm than an org chart. Bitcoin is, of course, this type of network, where each node has full knowledge of the state of the network and participates in it voluntarily.
Bureaucracy, on the other hand, is based on the writing down of roles (job descriptions) and makes people interchangeable. There is no limit to scale as long as you map everything out carefully (management). The lifeblood of bureaucracy is the transmission of written forms of information (paper-pushing) from the center to the periphery along defined, linear routes. Each node receives its orders, performs its specialized role, delegates if the role requires it, and then awaits new orders. Privilege and planning are concentrated near the center -- as is risk.
These structures are inherently fragile and collapsible. If you undermine a high-value node as happened in the collapse of Lehman Brothers, the whole edifice collapses. The entire global financial system barely withstood the collapse of a single American bank - it is that fragile.
Each nation's banking system is likewise a matrix of bureaucracies operating as a single, hierarchical supply chain whose product (the national currency) flows outward from a central node (the central bank) through successively less privileged nodes (investment and commercial banks) down to the level of branches and ATMs. At each level of the banking system, additional product is created and loaned out (credit/debt) using the productfrom the level above as a stake (fractional reserve lending). The banking systems are insulated from competition by governments through the decree that taxes must be paid in national currencies. And to keep the currencies moving, everyone is raised from birth to want more and then given the appearance of more through the creation of more by fiat, meaning by arbitrary decree, without any necessary connection to the creation of new wealth. This is inflation: the steady creation of new money to repay debt and keep the show going. It is a Ponzi scheme by design, and it relies the continued "buying-in" of young people in order to survive.
Each national currency has value and utility only by decree and only within that nation's cell in the global mosaic. To move value from one nation to the next requires snaking it through tenuous international pathways, paying entrenched gatekeepers, and exchanging one national currency for another. You have to be somebody to access the banking system. The more somebody you are, the more access you get. It is principally through control of economic access that strong nations bully weaker ones, rich people bully poorer ones. There is tremendous pent up tension in our world as a result. This is where we are.
The Center Cannot Hold
McLuhan predicted that the advent of the electronic age and the emergence of global communication networks would lead to the dissolution of these centralized, bureaucratic structures from the bottom up. He died before the spread of the Internet but described the end result with crystal clarity in his writings. His vision of an interconnected world, which he called the "Global Village," is here now. Every person has the ability to broadcast information to others in their networks over the Internet. If a transmission is perceived as having sufficient value, the receiving people pass it on, and so on. Above a certain threshold of significance, transmissions are repeated by all people to all other people: this is virality and there is nothing that institutions can do to harness or stop it. The Arab Spring for example brought down an array of national governments in a span of months.
Like a rising tide, global communication networks are bringing about an inevitable dissolution of the Roman model all around us: the music industry was upended by Napster; newspapers are being displaced by twitter and blogs; radio stations are being displaced by podcasts; broadcasters are being displaced by Netflix and YouTube; brick-and-mortar stores are being displaced by Amazon and eBay; AirBnb is gobbling up rental supply; traditional transportation services are being displaced by Uber; and now decentralized currencies are coming after centralized ones. Quoting W.B. Yates: “Things fall apart; the center cannot hold; Mere anarchy is loosed upon the world.”
It is important to realize that even though the post-Dot-Com networks like Facebook and eBay were more effective than their institutional predecessors, they are still quite fragile since they are centralized. They can be hacked, compromised, back-doored, subpoenaed, or otherwise shut down. In contrast, a truly decentralized network is perfectly flat and impossible to shut down. The music industry could kill Napster by going after Sean Parker, but it cannot touch BitTorrent. True decentralization, at scale, is one of the principal reasons why Bitcoin is secure: whatever it becomes, it cannot be stopped because there is no center to hold, and nothing to attack.
At this point, I think it makes sense to explain how Bitcoin works, and why it has value. If those questions can't be answered clearly, there's no basis for thinking Bitcoin will disrupt traditional banking. I do, however, think there are very good answers to those questions which I'll try to present below.
Bitcoin and Blockchain
Imagine you live in a pre-historic tribe of ten people. As a group, you need to find a way to keep track of who did what work, and in what quantity. In other words, you need an abstract “work unit” that can be traded for work and held for use in future exchanges. You could use shiny rocks or something else similarly rare, but people would still be able to cheat the system: why do actual work if you can simply go on a hunt in the forest and find new rocks?
One solution is to create a ledger or list that keeps track of how many rocks each person has. If the ledger is the authority on who has what, people would not be able to inflate their balances by introducing new rocks or other work units from outside the system. The problem is, everyone has to trust the keeper of the ledger. If only one entity maintains the ledger, they ultimately control how much money everyone has (banks).
Decentralization is the solution to this problem. You can write down ten copies of the ledger and distribute a copy to each person in the tribe. At the end of the day, everyone could cross-check the transactions that took place with everyone else and a consensus could be formed about who has what without appealing to a central authority.
Eventually, the people might realize that the rocks themselves are unnecessary, and that it is actually the ledger that is important. The rocks, like all currencies, are meant to track work. If a ledger is already doing that, the rocks themselves become extraneous. The actual units of currency are the work units on the ledger. And if everyone agrees to use the same ledger, its work units have value.
The blockchain is that ledger and Bitcoin is its work unit.
Proof of Work
In the illustration above we can see that the utility of a blockchain is that it enables distributed peers to prove to each other that they have done work, and to trade their work units freely without appealing to a trusted intermediary. The obvious next question is: what proof do we have that we can trust the Bitcoin blockchain?
Bitcoin mining is based on a Proof of Work consensus mechanism. To put this as simply as I can, each and every mining node on the network is competing against the rest of the network to generate a small piece of data that proves it has performed an enormous number of computer operations using a batch of new, valid transactions as an input. The amount of work that it takes to successfully mine Bitcoin is dictated by how much computer power has voluntarily joined the mining network - and this is adjusted dynamically as miners enter and leave the network. Each operation requires a tiny bit of electricity since a computer must perform it, so as the difficulty of the Proof of Work operation scales, so too does the cost of generating it.
As of writing, the Bitcoin network is collectively performing about 8,250,000,000,000,000,000 operations per second, and it takes an average of about ten minutes worth of this grind for a single node on the network to successfully produce an acceptable proof of work and add a block of transactions to the blockchain. The winning node is awarded new Bitcoin by including a transaction in its block that credits its own wallet -- now we understand mining.
So you want to be a Bitcoin miner? Let's say you have a powerful gaming computer that can perform about 100,000 Bitcoin computer operations per second (a realistic amount by the way). It would have roughly a 1 in 82.5 quintillion chance of mining a block if you were to enter it into the mining race today. If you had a stack of 1000 of these gaming computers your odds of mining a block would improve to roughly 1 in 82.5 quadrillion. A million of them? 1 in 82.5 billion. Etc. Miners use specialize hardware to perform the computer operations, but the point still stands: it takes a staggering amount of computer power and thus a staggering amount of electricity to "get a word in" on the Bitcoin blockchain.
But let's say you get lucky and are able to generate a proof of work. That proof of work will be tied inexorably to whatever batch of transactions you are trying to add to the blockchain since those transactions were part of the input of the computer operation. Your transactions must be valid or else the rest of the network would reject your work. You wouldn’t be able to double-spend, create Bitcoin by fiat, or spend from balances that you don’t have the keys for. The network would reject your block.
The larger and more distributed the mining network is, the more cost-prohibitive it is to compromise it. In other words: the more people you have checking the ledger from different nations and backgrounds, the harder it is to override the distributed, international consensus. And that is why the Bitcoin blockchain can be trusted. It is audited by the largest computer network ever assembled and requires that an attacker control at least 51% of the network on a sustained basis.
The Open Blockchain
As more and more people use a blockchain, its units (e.g. Bitcoin) become more valuable. As the price of the base unit increases, it becomes more profitable to mine them at the prevailing level of difficulty, so more miners join the network. As more miners join the network, the level of difficulty increases and thus the robustness and security of the network increases. As the robustness of the network increases, it becomes more secure against attackers, so more users and investors are drawn to it. And so the price of the base unit increases. Which draws in more miners. Etc.
The adoption of a blockchain, like the adoption of any currency, is a virtuous circle -- one that Bitcoin has been nurturing successfully for nine years without any existential catastrophes. Bitcoin's heartbeat, the mining of a new block every ten minutes, has not skipped a single beat in nine years. There has not been a successful double-spend in nine years. There has not been a single accounting error in nine years. No balance has been mysteriously wiped off the blockchain in nine years. This track record has been established despite the fact that the blockchain is not protected by a firewall, or an institution, or shielded in a vault. It is not buried underground, or protected by obfuscation. It is out there in the wild of cyberspace for all to see and attack, secured purely by Proof of Work and sheer scale.
Bitcoin itself is valuable because it is the only work unit that can be included in a block of this particular, special blockchain: the open, global, transnational, borderless, censorship-resistant, permissionless, leaderless, most well-known, longest-running, and most-well-capitalized blockchain (credit to andreasma for this and many other insights). Because work units on this blockchain are scarce (per the 21-million cap), having the ability to sign for transfers of Bitcoin on the blockchain is a form of real control over scarce resources.
This is the pivotal point: to the degree that people around the world adopt and learn to trust the Bitcoin blockchain, its work units will have value. And it is Bitcoin's openness in particular that makes it the prime candidate for filling this role. Any computer on the planet can join the mining swarm at any time, just as anyone can join the network as a user, at any time, from any location. Even the Bitcoin development community is open-source and open to new developers provided they can prove their merits.
This is what is meant by The Open Blockchain: the Bitcoin blockchain is accessible everywhere and is open to anyone. It is welcoming. It enables people from different cells in the global mosaic to transact point-to-point, without snaking value through complicated interbank networks, without paying entrenched gatekeepers and intermediaries, and without having to convert from one currency to the next. If a country experiences a currency crisis, Bitcoin is a very real option because it enables people to transfer value out of hot spots and convert it into other currencies. The international monetary system is no match for this technology. Private blockchains are no match either.
Bitcoin’s Monetary Policy
Bitcoin is commonly referred to as "digital gold" since it is designed to function like a precious metal. The creation of new units follows something like the extraction curve of a natural resource. The issuance of new coins was steep at first but will taper off over time through successive “halvings” of the reward that miners receive for creating new blocks. Eventually, the issuance of new coins will approach an asymptotic limit of 21 million coins.
At each "halving", the rate of inflation is effectively cut in half, though it decreases ever so slightly with each new block. The current rate of inflation is about 4%. At the next halving in 2020, the inflation rate will be about 2%. In 2024, 1%. Etc.
The world has never before had access to a truly deflationary asset. Even currencies considered deflationary such as the Japanese Yen are not truly deflationary: the government can print an infinite amount even though deflation in Japan has inertia. Gold is not deflationary: new gold is mined every year. Bitcoin will eventually become truly deflationary, meaning the supply of available Bitcoins will contract year over year consistently. How is this possible, if there is no provision to destroy coins in the protocol?
There is guaranteed to be a year sometime in the future where more coins are lost due to people losing their keys than new coins are created. It will happen. As the miner reward decreases, years like this will become more common. In the distant future, decades will go by where every year is deflationary, and eventually it will be practically impossible for the supply of Bitcoin to not decrease in a given year.
Here is Bitcoin’s golden proposition: because it the first truly deflationary asset, it does not require interest payments or a never-ending influx of greater fools in order to provide a “yield” over the very long run. In the distant future, Bitcoin will have a low but predictable intrinsic expected return approximating its rate of deflation, as long as it remains secure.
When you combine Bitcoin's monetary policy with its robustness through distributed Proof of Work on a planetary scale, you end up with the basis for a global reserve asset more effective than anything else humans have ever had a chance to work with, including gold. Gold is modestly inflationary, it cannot be transmitted over a network, and it must be centrally secured and accounted for. Bitcoin has already obsolesced gold as a reserve technology, let alone Ponzi currencies like the dollar - most just don't know it yet. As people come to really understand Bitcoin’s monetary policy, they will flock to it as a safe haven, especially in troubled economies. If we have another 2008, Bitcoin will be very much in play.
Bitcoin as Money
People argue that Bitcoin's deflationary policy, high fees, and volatility make it ineffective as a medium of exchange. If you can expect a Bitcoin to be more valuable next year, why spend it this year? If it costs $20 in fees to buy a $3 coffee, who will use or accept it? If its value can double in a day, who will set prices in terms of Bitcoin exclusively? The truth is, Bitcoin is not yet ready for mass adoption as a day to day currency or unit of account. Anyone who tells you otherwise is getting ahead of the technology -- but this is temporary.
Just as the early Internet could only handle the transfer of simple text-based content but eventually scaled to allow everyone to stream 4k at the same time, so too Bitcoin will scale. The Lightning Network shows promise in this regard. It will enable and incentivize users to stake their Bitcoin on a second layer where payments are negotiated in a trustless manner between parties, instantly, and merely settled periodically on the blockchain. But even with today’s block congestion and high fees, Bitcoin is already cheaper and more efficient for large transfers of value than the banking system, especially internationally. People transfer hundreds of millions of dollars on the blockchain, securely, today.
Regarding volatility, we are still in the very early phases of adoption. Something like 10-20 million people own Bitcoin worldwide. Because the supply of Bitcoin cannot inflate to accommodate increased adoption, prices will continue to escalate in logarithmic fits and starts as adoption ramps up exponentially. Look up "adoption curve" on Google. We are still in the very early phases of the ramp-up, but eventually the curve will taper off and approach something like stability. We do not know how this will play out or how long it will take, and there will be serious volatility along the way; but if Bitcoin scales into a robust transnational currency trading on thousands or tens of thousands of exchanges worldwide, it will likely become more stable than most national currencies if not all.
Regarding deflation: over time, we will likely see new innovative uses of Bitcoin as a reserve for credit creation. People are clearly willing to operate in systems that use reserve-based lending, and they can work wonderfully: look at what humans accomplished in the 20th century! It is conceivable that Bitcoin could be used as a reserve for distributed, trustless, bank-like networks that issue their own tokens. We may end up using a modestly-inflationary cryptocurrency for day-to-day transactions and investment. There’s no way to know what people will come up with, but they will come up with things. And that is why Bitcoin must stay laser-focused on its role as the de facto reserve currency in the crypto-economy.
A Vision Statement for Bitcoin
Tying everything together: over the course of thousands of years, we have built our societies around the use of hierarchical principles of organization. These structures centralize control and privilege, but also risk. They are fragile. Too big to fail.
The invention and proliferation of the Internet paved the way for the dissolution of these structures, and over the past twenty years we have seen countless examples of entrenched institutions being wiped out by flatter, more effective networks.
Now we are seeing the early evolution of global, distributed, cryptographic value storage and transfer networks which will slowly displace traditional banking systems by offering faster, cheaper, more reliable routes, with better systemic risk profiles, infinitely better security, no access controls, and no entrenched monopolistic privileges over money creation.
Bitcoin was the first mover in this space and remains the incumbent. It is a global, secure, consensus-based currency that was bootstrapped from the ground up by ordinary people volunteering to participate in its development, mining, and use. It has grown exponentially in size since its inception, to the point where it is now upheld by the largest dedicated computer network in the world. Because it is secured principally by its unmatched scale, it is therefore the most secure accounting system in the world, which in turn makes the entries in its ledger the most trustworthy on the planet. If you can sign for a Bitcoin in the network’s eyes, you own it -- and nobody can stop you from owning it or signing for it.
Bitcoin is here, now. It is in the air all around us, accessible over wifi and cellular networks around the globe -- anywhere the Internet touches. The next time you walk down the street, look at the people around you. As they move through the air, displacing it with their bodies, recognize that they are literally wading through the Bitcoin network -- they just don't know it yet.
Suggestions for New People
1) Focus first and foremost on the vision and take an interest in the technology. I have a friend who is talking about putting $20k into Bitcoin, yet only a few nights ago he didn't know that Bitcoin isn't a company, or that a block isn't a single transaction. I have another friend who owns a whole Bitcoin but has never initiated a transaction. A co-worker of mine just bought $100 worth of Bitcoin but doesn't know that a wallet is key management software.
2) Bitcoin is an experiment with no precedent. Nobody knows if it will survive, what it will evolve into, or how it will be used. Even with its long-running track record, nobody can say with prophetic certainty that it won't suffer a catastrophic failure of some kind, so put only as much money into Bitcoin as you can afford to lose. I would offer the following as a good rule of thumb: if you have a negative net worth (meaning your debts exceed your assets) be very cautious with Bitcoin, and at the very least do not increase your debt to buy Bitcoin. If you have a positive net worth, do not go negative to buy Bitcoin. Having said all this, do keep in mind that any currency can suffer a catastrophic failure, including the US Dollar. Remember 2008. Don’t fall for illusions of security. We are all sailing in little boats on a big sea. Diversify.
3) If you believe in Bitcoin, try not to obsess over the value of Bitcoin in fiat terms, as tempting as it is. Try to conceptualize its value on the basis of its potential utility in emerging decentralized networks and look for ways to use it in these new emerging ecosystems. Look up OpenBazaar for example - it could be the new eBay without an eBay acting as an intermediary. I strongly believe that owning Bitcoin is exciting because it sets you up to have a stake in this emerging ecosystem. If your aim is to eventually get your value out of Bitcoin in the form of fiat, you’ll be giving up that stake. If you don't care about having a stake and are here just for the gains, that's perfectly fine too.
4) Learn how to take possession of your private keys. If you don't know what that means or how to do it, learn what it means and how to do it. Until you can say with confidence "I alone own my private keys", you do not actually own Bitcoin and you do not have a stake. Someone else owns it for you. It took me two years of owning Bitcoin before I actually clued in and took control of my own, and that is what forced me to take on the Bitcoin learning curve. The good news is, you can too.
(Edit: formatting)
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Bitcoin mining can be done by anyone possessing enough computing power to solve mathematical problems required by the system to confirm transactions while preventing double-spending. For their efforts, these miners are given a fee in the form of newly minted bitcoins. A reward of 12.5 bitcoin is given to a miner for every block found or about 1,800 bitcoins per day. The number of bitcoins ... Bitcoin mining is the process of creating new bitcoin by solving a computational puzzle. Bitcoin mining is necessary to maintain the ledger of transactions upon which bitcoin is based. Merkle trees are binary trees of hashes. Merkle trees in bitcoin use a double SHA-256, the SHA-256 hash of the SHA-256 hash of something. If, when forming a row in the tree (other than the root of the tree), it would have an odd number of elements, the final double-hash is duplicated to ensure that the row has an even number of hashes. First form the bottom row of the tree with the ordered ... Introduction¶. Each full node in the Bitcoin network independently stores a block chain containing only blocks validated by that node. When several nodes all have the same blocks in their block chain, they are considered to be in consensus.The validation rules these nodes follow to maintain consensus are called consensus rules.This section describes many of the consensus rules used by Bitcoin ... The bitcoin reward that miners receive is an incentive which motivates people to assist in the primary purpose of mining: to support, legitimize and monitor the Bitcoin network and its blockchain.

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How to start Bitcoin mining for beginners (SUPER EASY) - ULTIMATE GUIDE - Duration: 13:51. We Do Tech 796,146 views. 13:51. Language: English Location: United States ... One of the students of the Blockchain and Bitcoin Fundamentals course asks "Who pays the bitcoin mining reward that gets paid out to the miners whenever they mine a new block for the Bitcoin ... How to BitCoin mine using fast ASIC mining hardware - Duration: 27:15. Barnacules Nerdgasm 1,688,667 views. 27:15 . How to Buy Cryptocurrency for Beginners (UPDATED Ultimate Guide) - Duration: 33 ... Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the last bitcoin is issued.minable bitcoins ... Bitcoin miner gets some bitcoin as a reward for completing transaction. A bitcoin miner has to complete a lot of mathematical calculation through powerful computers to earn bitcoins.

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