Maxcoin (MAX) Mining Profit Calculator - WhatToMine


BSoV: The first mine-able, deflationary, open sourced, decentralized cryptocurrency Hedge to act as a Store of Value against the monetary inflation of fiat currency. BSoV is mined using a simple Keccak256 (Sha3) algorithm. There is No ICO, No Pre-mine, and No Governance. This allows for BSoV to be completely decentralized and fairly distributed. With each transfer of BSoV tokens, 1% of the total transaction is burned forever.

Why #Fortune1Coin is a coin to the masses

Ladies and gentlemen, with this post we open a series of posts about our favorite coin - Fortune1Coin. From the technical point of view, it is enough to say that our coin is a fork of Bytecoin, well known and proven for years, which is the ancestor of almost all known cryptology with the function of anonymous payments. CryptoNight protocol, Keccak encryption, ring signatures etc... All this is present in our coin, just as it is present in the original Bytecoin and works as well as in it. With this series of posts, we want to talk about another thing. About what's so special in our coin? Why does it need to be mined and why do people have to invest in it? What is its novelty? What's it got that's not in other coins? Today the first post is dedicated to the first unique property of the coin. So...
The first thing I want to say is that from the very beginning we create a product for the masses. This was originally the central idea of our project. Although almost all coins would like to be "coins for the masses", in fact, almost all of them are created by people from the crypto industry and for people like them from the crypto industry. If you don't agree with this, then think about why no coin is a means of capital accumulation in our time? As an investment instrument, yes. But you have to agree that there is hardly a single person in the world who is saving for his old age at Bitcoins. Yes, of course, there are large investors with very long positions - this is a fact, everyone agrees with that. But they are just investors, to be more precise, 90% are stock speculators. But it does not matter. What is important is that I have not yet seen a single pension crypto-currency fund! Or a person who wants to get paid in Bitcoins for life! The thing is, cryptocurrencies is too volatile and not predictable at all. Volatility is a friend of speculators, but the enemy of money itself. Look at the USD or the EUR - they are always almost stable against each other. Yes, there are nuances, of course. But we don't need to dig so deep now, because this is not about the dollar and the euro. Cryptocurrency projects in the absolute majority of cases cannot stabilize the exchange rate of their coins (stable coins do not count, it is a separate category of crypto-assets). Why not? The reason is simple - none of the developers of these projects have ever even thought about it. Most cryptos are forks of well-known and containing conceptual flaws of Bitcoin and Bytecoin. And even Ethereum, absorbed some fundamental things that seemed right at the beginning of the crypto industry. Therefore, ETH course is as volatile as any other coin. Even less credible in the world, are various tokens, because in 99% of cases, they do not contain any real long-term economic model or unique value. As a rule, it is simply "discount coupons" + "premium access" to any goods and services that can be purchased without any tokens and the fuss associated with their purchase. Therefore, almost all tokens die, and most of them, quite quickly. So, our coin has an effective tool to combat the volatility of its rate. When the time comes (when circumstances require it), we will be ready to ensure a stable rate of our coin. How? This is facilitated by the second thing I would like to tell you about our coin. Follow our posts...
submitted by Fortune1Coin to u/Fortune1Coin [link] [comments]

Epic Cash Vitex Exchange AMA

What is EPIC CASH?
Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The Epic currency aims to become the world’s most effective privacy-protecting form of digital money. In order to fulfill that goal, it satisfies the three principal functions of money:
1. Store of Value — can be saved, retrieved, and exchanged at a later time, and of predictable value when retrieved;
2. Medium of Exchange — anything accepted as representing a standard of value and exchangeable for goods or services;
3. Unit of Account — the unit by which the value of a thing is accounted for and compared.
Website: Whitepapers: Epic Cash Community: Miner Chat: Gitlab: Twitter: Social Media: Exchanges:
Hello community! Our AMA with EPIC begins🚀 We are very happy to have you here, on our joint AMA👌 So, lets start! The very first question for you. Can you introduce yourself?
Max Freeman | Epic Cash | Mimblewimble I’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Yoga Dude Hello, I am Yoga Dude 🙂 I handle Marketing and PR, in crypto since 2011 started as Bitcoin miner, and in 2014 in Monero, and in 2015 in Ethereum, oh and briefly in DOGE for fun and unexpected profit. Heard about Epic Cash while learning about the Mimblewimble algo and joined the team last year.
JLong I am John, Doing the general engineering and managerial work
Max Freeman | Epic Cash | Mimblewimble I have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Oleg✌🏻 nice to meet you🙂
Max Freeman | Epic Cash | Mimblewimble Epic is a decentralized community project like Bitcoin or Monero, there is no central authority or corporation involved. We had no ICO and no premine, we had a fair launch at 0 supply last September.
Yoga Dude Great to meet everyone :)
Oleg✌🏻 Here we go the 1st question for you ~ 1. What is Epic Cash about?
Yoga Dude Epic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Oleg✌🏻 Look like a real Bitcoin🙂
Yoga Dude with privacy and fungibility 😄
Oleg✌🏻 Sounds cool! move on to the next question… 2. What makes Epic Cash better than Monero or other privacy coins?
Max Freeman | Epic Cash | Mimblewimble First off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use a three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for today's investment. Our blockchain is 90+% smaller than Monero or Bitcoin. Coins such as Zcash have optional privacy. Epic makes all transactions private, and it is impossible to trace movements of coins by watching wallet addresses.
Oleg✌🏻 Young and hot😋 security and privacy level is very important now but… 3. Why copy the same supply economics as Bitcoin?
Yoga Dude It is hard to compete with the success of Bitcoin today, part of the elegance and the appeal of Bitcoin is the responsible emission rate, terminating at 21million highly sub dividable coins. Like the Bitcoin supply curve, Epic Cash encourages early adopters, and with subsequent halvenings maintains a gradually diminishing flow of additional currency while preserving the overall value.
Max Freeman | Epic Cash | Mimblewimble In 2028, the supply of Epic matches that of Bitcoin and they stay in sync until the final coin is mined in 2140. We have 4 halvenings between now and then, which is demonstrated in Bitcoin to drive the value over market cycles. Epic is a chance for people who were late to Bitcoin to ride the wave and not miss their opportunity this time.
Oleg✌🏻 Interesting! 4. Why Choose Epic Cash over Grin and Beam?
Max Freeman | Epic Cash | Mimblewimble First of all, we have tremendous respect for all Mimblewimble currencies and their talented teams, they all taught us a lot and we are thankful for that. Without sounding too contentious, the choice seems obvious. We offer the same core tech, but with a much more responsible emission curve — Grin is an endless fountain of emission and inflation (60 per second forever), and Beam is even more frontloaded outpacing even Grin’s aggressive emission schedule for the next several years… We respect Grin and Beam, we learned from them, and we believe we are the next evolutionary step. Additionally, as we mentioned earlier, we offer more ways to mine Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Yoga Dude Yes, all that ☝️😄
Oleg✌🏻 I hope the miners read it all carefully 👌 Next question 5. Why have a development fund tax and what will it be used for?
Yoga Dude Dev fund tax today is at a reasonable 7.77% dropping by 1.11% every year until it hits zero. As Epic Cash grows in value these funds will become increasingly more relevant in additional technical, marketing, and fintech partnerships developments.
Oleg✌🏻 Very smart! 6. What is the advantage of 3 mining algorithms?
Max Freeman | Epic Cash | Mimblewimble By having multiple mining algorithms we are able to attract CPU, GPU, and ASIC miners simultaneously. Currently all other Mimblewimble currencies are mineable with GPU only ignoring a large segment of CPU miners. Monero made a splash migrating to the RandomX CPU mining algo. Epic Cash from the beginning embraces all mining communities. Many miners are successfully using older hardware such as Xeon processors to help secure the network. We use RandomX for CPU, ProgPow for GPU, and Cuckoo for ASIC.
Longer term, our flexible architecture means we can have many algorithms, not just 3. Our roadmap includes an allocation for SHA3 Keccak, which will help further decentralize the network and keep it unstoppable.
Yoga Dude We love miners 🙂 and Epic Cash can be mined with laptops and gaming rigs 🙂
Oleg✌🏻 A wide selection of mining methods is a great way to create a stable, decentralized and large network👌 Let’s talk about persons… 7. Who are the people developing Epic Cash?
Yoga Dude We are blessed with a very talented team of skilled developers with diverse backgrounds, many of them are volunteers who believe in what Epic Cash stands for and contribute with product and usability innovation. Our teams main focus is to make Epic Cash the best, most secure, most user friendly and usable product on the market, without making it unnecessarily techie, with as much mainstream user appeal as possible. This is a serious challenge but we are up for it 😄
Max Freeman | Epic Cash | Mimblewimble It is also important to note that we are a truly open ecosystem that anyone can participate in. Our community has developed wallets, mining pools, educational content, and much else besides. We are not limited by the funding generated during an ICO or VC investment, our users are an essential element of our team.
Oleg✌🏻 Sounds very attractive. 8. What do you think is currently lack in today’s crypto?
Max Freeman | Epic Cash | Mimblewimble We believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why these are necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals.
Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. Mimblewimble eliminates the risk of tainted coins making them indistinguishable from each other. With traceable coins, you always have to worry if the coins you are getting were involved in a hack, or perhaps the darknet.
Oleg✌🏻 It’s good to see strong and safe coin in our time Let’s talk about your future… 9. What does the Epic Cash roadmap look like going forward?
Yoga Dude First and foremost, we are focused on security and usability.
We are working on a new, improved GUI wallet to incorporate the community feedback on ways to improve it.
We are in the process of completing final testing phases for the next iteration of Epic Cash which will make it more secure and stable. Once that is done, we will be rolling out Android and iOS support to make Epic Cash usable on leading smartphones and smartwatches. Beyond that without going into too much detail we are focused on continuous evolution of privacy, ease of mining, and overall speed and usability.
And of course we are constantly looking to add more exchanges both with and without KYC.
Oleg✌🏻 Are you working on Android and IOS wallet ? What will your application be?
Max Freeman | Epic Cash | Mimblewimble Yes, we will release a mobile wallet this year. It will bring us one step closer to people being able to actually use cryptocurrency as money in daily life.
Yoga Dude The idea is to be able to access Epic Cash from any platform and device
Max Freeman | Epic Cash | Mimblewimble Epic is very lightweight, which means that low-end devices such as smartwatches can participate.
Oleg✌🏻 Ok, got it. Thanks for clarification! 10. What else can you tell us about Epic Cash?
Max Freeman | Epic Cash | Mimblewimble Well one thing I really want to mention is our great Epic Cash community. We’ve been building a decentralized community organically, without the talk of price pumps, pressure to HODL and other BS crypto-gimmicks. Our community is truly global and consists of developers, volunteers, miners, and other Epic enthusiasts spreading the word about Epic Cash, helping us reach millions of people around the world to improve their quality of life through social media and directly. Everyone is an evangelist, everyone is an influencer, everyone has the power to make the world a better place to live in. As we continue to grow — the future looks Epic 😊
Yoga Dude Definitely the community! We got a talented crowd of very cool and motivated people from all over the world!
Oleg✌🏻 Thank you guys, for such informative answers 🙂 Now we proceed to Section 3, where a Community can ask their questions to the EPIC team Now I’ll open chat for the quite some time … Oleg✌🏻 Thank you all, dear community! EPIC team, please choose the 10 best questions you want to answer.
AngeI Everyone likes Privacy & Epic Cash provides their Best Privacy to users But, Which Technologies are being used by Epic Cash to make Blockchain very Private and Completely untrackable ?
Max Freeman | Epic Cash | Mimblewimble From the wallet to the node, Epic uses Dandelion++ to bounce transactions around the world before they go into the mempool for mining. Within the blockchain itself, Cut-Through merges all transactions in a block together, with CoinJoin automatically mixing all coins.
Beyond that, there are no addresses, so it’s impossible to watch someone’s wallet.
Arnold Even litecoin is implementing mimblewimble, Don’t you think it’s a significant threat for Epic if they implement it, then why would anyone use a less popular and a new cryptocurrency.
Max Freeman | Epic Cash | Mimblewimble LTC is implementing mw as an “extension block”, meaning that it is optional and not all transactions will use it. This is very different than the core protocol leveraging mw to make all transactions private and all coins fungible.
Aluta Why Epic cash so much focus on fungibility? Does fungibility matters that much?
Max Freeman | Epic Cash | Mimblewimble Fungibility is going to be one of the key issues within the cryptocurrency space in the coming years. Today, if you accept traceable coins from a seller, you are liable if they have ever been used in any illegal activity. This has led to a two tier market where freshly minted coins sell for more than circulated coins. When coins are fungible, like Epic, you don’t have to worry that you will run into a problem when an exchange or merchant blocks your transaction.
Joxes It is a pleasure.
When I first researched EpicCash, google showed me a youtube video that talked about how to mine with EpicCash. It made me ask: is this mining activity profitable so far?
We are in the early stages of development I guess, what adoption strategies are you taking to have sustained growth? is it feasible to reach N ° 500 rank in coinmarketcap in the medium term?
Yoga Dude When I got into crypto, it was by mining Bitcoin back in 2011 when you could still solve blocks on a single computer, but Bitcoin at the time was anything but profitable 😄 Today Epic Cash is still new, still young, and still undervalued. I believe it is mining-worthy because of its potential, not because of today’s price. By allowing Epic Cash to be mined with GPU and CPU on gaming rigs, servers, and even laptops we offer maximum public participation in our project. More people involved in the project, the more evangelists there are. We empower people to mine Epic Cash and to promote it.
S.P.A.D.E What new features of Epic Cash provide that Grin or Beam does not offer. Why do we need Epic Cash?
Max Freeman | Epic Cash | Mimblewimble They are great coins, but there are some ways in which Epic improves. Epic has better tokenomics than Grin and a more sustainable model than Beam, that has a company behind it that needs to repay investors via its high dev tax. this article explains in more detail
Sahil What’s the Minimum Hardware / setup Required for Mining of EPIC Cash coins? Is Mining Profitable and Can we Mine EPIC Cash coins at Home?
Max Freeman | Epic Cash | Mimblewimble It is possible to mine on an ordinary laptop or desktop from the last 5 years, sometimes older. Epic is open to everyone, and our friendly community is standing by to help you get started at
Does your GREAT PROJECT have plan about TOKEN BURN?
Xenolink For deflating projects It is beneficial to drive the demand / scarcity / and price up in a faster pace. Epic Cash is here for the organic long run not the short run. However when it comes to long term economics elastic supplies whether inflating or deflating will not be a solid long term economic model. This has been heavily discussed already with Bitcoins inelastic Fixed 21 million supply in the past. Having a fixed model demonstrates good long term economics without worrying about balancing a deflating/inflating model. Bitcoin is a perfect example of a 21 million inelastic fixed supply model that has been proving itself till today. Which is why we are also using the same fixed 21 million supply model. Epic Cash plans to have a solid organic long term future to bring free private fungible money and make this world a better place.
Red Z🔥🤙 No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?
Yoga Dude One thing we have seen as the result of the COVID-19 is more governments are talking about moving to digital cash — digital dollar in USA, digital Lira in Turkey, etc… If in the past the idea of digital money was not graspable by some people, today its the governments that are educating the people for us about the value of digital currency… What is ironic, the governments, by printing money to solve the economic consequences of COVID-19 also educating the consumer about the true “value” of fiat… What we offer is a touch free, borderless, private, anonymous, fungible currency that can not be printed beyond the initial defined algo. We are more responsible than the printing presses of the governments 🤔
kunlefighter How does the Dandelion++ Protocol, Confidential Transactions (CT) and CoinJoin assist in protecting the privacy of individuals and their transactions on Epic Cash Blockchain?
Max Freeman | Epic Cash | Mimblewimble Dandelion++ bounces transactions around before committing them to the blockchain, making it impossible to determine where they originated from. Confidential Transactions means that all tx are private, you can’t tell anything about where the coins have been or who they belonged to. CoinJoin in essence melts down and re-mints each coin every time it is used, making it impossible to track their ownership or usage history. Epic provides comprehensive privacy to everyone, without the compromises that other pre-mimblewimble coins have.
Dr Mönica Hello sir @maxfreeman4 @Johnsstec @Yogadude
Thanks for the ama I notice that Epic Cash has 2 type of new algorithm, progPoW version 0.15.0 and randomX version 1.0.3 NOW , CAN you tell me why you choose these 2 algorithm???
Yoga Dude We went with RandomX because it is a solid and very popular CPU centric algo used by several coins — most recently Monero. Most miners today heavily favor ASICs or GPUs, leaving a lot of solid high end users in the dust unable to mine emerging cryptos. As far as ProgPow, again its an established algo for GPU miners, and thanks to many cryptos starting with Bitcoin/Monero/Ethe etc there is no shortage of GPU rigs out there :) plus again the casual user with a video gaming caliber card can get in on the action.
Oleg✌🏻 Perfect! It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks EPIC team for taking the time👏. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!🎉
submitted by EpicCashFrodo to epiccash [link] [comments]

Waltonchain adds GNU General Public License details to code - BUT does the code contain this?

Waltonchain adds GNU General Public License details to code - BUT does the code contain this?
Dear Crypto community,
Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.
Following this, the team have now updated the code to show the original copyright:
Image from Github

I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

What we've been told as a community is that the Waltonchain source code has changes that allows for:
  • Security - DASH X11 - Most cryptographic algorithms used in cryptocurrencies use only one hash function for calculation. There are 11 of them in X11, which provides a higher degree of protection against hackers and scams. Waltonchain has customised the DASH X11 hashing algorithm to fit their purpose.
  • More secure than Bitcoin. The Bitcoin algorithm is SHA-256 is based on a previous secure hash algorithm family of standards, namely SHA-2, the hash functions within the X11 algorithm all successfully made it into the second-round in search for a new, more secure standard — SHA-3. Keccak, the function which won the competition and is therefore the new standard on which SHA-3 is based on, can at the very least be considered more secure that SHA-256.
  • Efficiency — Waltonchain have produced ASICs with the equivalent hashing power of 200GPUs (32–40kW) whilst using only 135W, thus helping the parent chain become decentralised
  • PoS aspect works in tandem with PoW, in that it adds a reduced difficulty based on number of coins held and time between blocks. Effectively the longer coins are held and the longer the time between blocks, the lower the difficulty for mining blocks. This again enhances the power efficiency of the network in its entirety.
  • Fast cross-chain searching via Proof of Labour —PoL enables hash values or indices from sub-chains (child chains) to be synced with the parent chain in a ‘cross chain index mechanism’ to enable fast searches for data via the parent chain.
  • Scalibility — Unlimited scalibility due to child chains; each CC is an independent blockchain (or DAG) using its own consensus mechanism (PoS, PoA, PoW, PoeT, etc) and can store data within itself. The parent chain by nature therefore cannot become bloated.
  • Atomic Swaps — PoL by nature ensures a record of every inter-chain transaction is held, and allows the function of atomic swaps between currencies.

Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

EDIT 1st June: A user on the Waltonchain sub has done an analysis which by the looks of it, disproves the initial assessment by many of the 'blockchain experts' in cc that have said the open source code is simply a copy and paste .
It is interesting to see just how much people love to hate Waltonchain that they spread misinformation either intentionally, or unintentionally, and that it gets the most attention out of any announcement.

For reference:
Block explorer: (all wallets, mining wallet, documentation etc is available via that link)
submitted by Yayowam to CryptoCurrency [link] [comments]

CODE FUD: Resolved.

Dear Waltonchain community,
Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.
Following this, the team have now updated the code to show the original copyright:

I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

What we've been told as a community is that the Waltonchain source code has changes that allows for:

Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

For reference:
Block explorer: (all wallets, mining wallet, documentation etc is available via that link)
submitted by Yayowam to waltonchain [link] [comments]

FUD Copy Pastas

**Last updated: May 30, 2018: Updated wallet info with release of Trinity.
This 4 part series from the IOTA foundation covers most of the technical FUD centered at IOTA.
Also the official IOTA faq on answers nearly all of these questions if you want to hear the answers directly.
Purpose of Writing
Since posting FUD is so ridiculously low-effort in comparison to setting the record straight, I felt it necessary to put a log of copy-pastas together to balance the scales so its just as easy to answer the FUD as it was to generate it. So next time you hear someone say "IOTA is centralized", you no longer have to take an hour out of your day and spin your wheels with someone who likely had an agenda to begin with. You just copy-paste away and move on.
It's also worth mentioning IOTA devs are too damn busy working on the protocol and doing their job to answer FUD. So I felt a semblance of responsibility.
Here they are. These answers are too my understanding so if you see something that doesn't look right let me know! They are divided into the following categories so if you are interested in a specific aspect of IOTA you can scroll to that section.


IOTA was hacked and users funds were stolen!

First, IOTA was not hacked. The term “hacked” is thrown around way too brazingly nowadays and often used to describe events that weren’t hacks to begin with. Its a symptom of this space growing way too fast creating situations of the blind leading the blind and causing hysteria.
What happened:
Many IOTA users trusted a certain 3rd party website to create their seed for their wallets. This website silently sent copies of all the seeds generated to an email address and waited till it felt it had enough funds, then it took everyones money simultaneously. That was the ”hack”.
The lesson:
The absolute #1 marketed feature of crypto is that you are your own bank. Of everything that is common knowledge about crypto, this is at the top. But being your own bank means you are responsible for the security of your own funds. There is no safety net or centralized system in place that is going to bail you out.
For those that don’t know (and you really should if you’ve invested in anything crypto), your seed is your username-pw-security question-backup email all rolled into one. Would you trust a no-name 3rd party website to produce your username+pw for your bank account? Because thats essentially what users did.
The fix:
Make your seed offline with the generators in the sidebar or use dice. This is outlined in the “how to generate wallet and seed” directly following.
The trinity and carriota wallets will have seed generators within them upon their release.

How to generate wallet and seed

1) Download official trinity wallet here
2) follow the instructions on the app.
3) Do not run any apps in conjunction with the trinity app. Make sure all other apps are completely closed out on your device.

Are you sure a computer can’t just guess my seed?

An IOTA seed is 81 characters long. There are more IOTA seed combinations than atoms in the universe. All the computers in the world combined would take millions billions of years just to find your randomly generated one that’s located somewhere between the 0th and the 2781st combination. The chance for someone to randomly generate the exact same seed as yours is 1 / (2781).
If you can’t fathom the number 27 ^ 81, this video should help:

Why is Trinity wallet taking so long!!??

Trinity is out.


IOTA introduction video to share with family

Tangle visualizers

How to setup a full node

Download Bolero and run! Bolero is an all-in-one full node install package with the latest IOTA IRI and Nelson all under a one-click install!
"If you want to help the network then spam the network. If you really want to help the network then create a full node and let others spam you!"

No questions or concerns get upvoted, only downvoted!

That’s just the nature of this business. Everyone in these communities has money at stake and are extremely incentivized to keep only positive news at the top of the front page. There is nothing you're going to do about that on this subreddit or any crypto subreddit. It's just a reddit fact of life we have to deal with. Everyone has a downvote and everyone has an upvote. But what can be done is just simply answer the questions even if they are downvoted to hell. Yea most people wont' see the answers or discussion but that one person will. every little bit counts.
I will say that there are most certainly answers to nearly every FUD topic out there. Every single one. A lot of the posts I'm seeing as of late especially since the price spike are rehashed from months ago. They are often not answered not because there isn't an answeexplanation, but because regulars who have the answers simply don't see them (for the reason listed above). I can see how it's easy for this to be interpreted (especially by new users) as there not being an answer or "the FUDsters are on to something" but thats just not the case.

Developer's candidness (aka dev's are assholes!)
Lastly and to no surprise, David conducts himself very professionally in this interview even when asked several tough questions about the coordinator and MIT criticism.

IOTA Devs do not respond appropriately to criticism

When critiquers provide feedback that is ACTUALLY useful to the devs, then sure they'll be glad to hear it. So far not once has an outside dev brought up something that the IOTA devs found useful. Every single time it ends up being something that was already taken into consideration with the design and if the critiquer did an ounce of research they would know that. Thus you often find the IOTA devs dismissing their opinion as FUD and responding with hostility because all their critique is really doing is sending the message to their supporters that they are not supposed to like IOTA anymore.
Nick Johnson was a perfect example of this. The Ethereum community was co-existing [peacefully]with IOTA’s community (as they do with nearly all alt coins) until Nick wrote his infamous article. Then almost overnight Ethereum decided it didn’t like IOTA anymore and we’ve been dealing with that shit since. As of today, add LTC to that list with Charlie’s (even admitting) ignorant judgement of IOTA.
12/17/2017: Add John McAfee (bitcoin cash) and Peter Todd (bitcoin) to the list of public figures who have posted ignorantly on IOTA.

A lot of crypto communities certainly like to hate on IOTA...

IOTA is disrupting the disrupters. It invented a completely new distributed ledger infrastructure (the tangle) that replaces the blockchain and solves all of its fundamental problems (namely fees and scaling). To give you an idea of this significance, 99% of the cryptocurrencies that exist are built on a block chain. These projects have billions of dollars invested into them meaning everyone in their communities are incentivized to see IOTA fail and spread as much FUD about it as possible. This includes well known organizations, public figures, and brands. Everyone commenting in these subreddits and crypto communities have their own personal money at stake and skin in the game. Misinformation campaigns, paid reddit posters, upvote/downvote bots, and corrupt moderators are all very real in this space.


How do I buy IOTA

What is the IOTA foundation?

IOTA foundation is a non-profit established in Germany and recognized by the European Union. Blog post here:

How many companies and organizations are interested, partnered or actively using IOTA?

A lot, and often too many to keep up with.

How was IOTA distributed?

All IOTAs that will ever exist were sold at the ICO in 2015. There was no % reserved for development. Devs had to buy in with their personal money. Community donated back 5% of all IOTA so the IOTA foundation could be setup.

No inflation schedule? No additional coins? How is this sustainable?

Interestingly enough, IOTA is actually the only crypto that does not run into any problems with a currency cap and deflationaryism. Because there are zero fees, you will always be able to pay for something for exactly what it's worth using IOTA, no matter how small the value. If by chance in the future a single iota grows so large in value that it no longer allows someone to pay for something in fractions of a penny, the foundation would just add decimal points allowing for a tenth or a hundreth or a thousandth of an iota to be transacted with.
To give you some perspective, if a single IOTA equals 1 penny, IOTA would have a 27 trillion dollar market cap (100x that of Bitcoin's today)

IOTA is not for P2P, only for M2M

With the release of the trinity wallet, it's now dead simple for anyone to use IOTA funds for P2P. Try it out.

Companies technically don’t have to use the IOTA token

Yes they do
Worth clarifying that 0 iota data transactions are perfectly fine and are welcomed since they still provide pow for 2 other transactions and help secure the network. In the early stages, these types of transactions will probably be what give us the tps/pow needed to remove the coordinator and allow the network defend 34% attacks organically.
But... if someone does not want to sell or exchange their data for free (0 IOTA transaction), then Dominic is saying that the IOTA token must be used for that or any exchange in value on the network.
This is inherently healthy for the ecosystem since it provides a neutral and non-profit middle ground that all parties/companies can trust. If one company made their own token it wouldn’t be trusted since companies are incentivized by profits and nothing is stopping them from manipulating their token to make them more money. Thus, the IOTA foundation will not partner with anyone who refuses to take this option off the table.

All these companies are going to influence IOTA development!!

These companies have no influence on the development of IOTA. They either choose to use it or they don’t.

Internet of things is cheap and will stay cheap

Internet of things is one application of IOTA and considered by many to be the 4th industrial revolution. Go do some googling. IOTA having zero fees enables M2M for the first time in history. Also, if a crypto can do M2M it sure as shit can do M2P and P2P. M2M is hard mode.

IOTA surpassing speculation

IOTA, through the data marketplace and [qubic](, will be the first crypto to surpass speculation and actually be used in the real world for something. From there, it will branch out into other use cases, such as P2P. Or maybe P2P use of IOTA will grow in parallel with M2M, because why not?
12/19/17 update: Bosch reinforces IOTA's break-out from speculation by buying IOTA tokens for its future use in the data marketplace.

Investing in a new project barely off the ground

Investing in a project in its early stages was something typically reserved for wealthy individuals/organizations before ICO’s became a thing. With early investing comes much less hand holding and more responsibility on the user to know what they are doing. If you have a hard time accepting this responsibility, don’t invest and wait for the technology to get easier for you. How many people actually knew how to use and mine bitcoin in 2009 before it had all its gui infrastructure?
IOTA is a tangle, the first of its kind. NOT a copy paste blockchain. As a result wallets and applications for IOTA are the first of their kind and translating the tangle into a nice clean user-friendly blockchain experience for the masses is even more taxing.

Why is the price of my coin falling?!

This may be the most asked question on any crypto subreddit but it's also the easiest to explain. The price typically falls when bad things happen to a coin or media fabricates bad news about a coin and a portion of investors take it seriously. The price increases when good things happen to a coin, such as a new exchange listing or a partnership announced etc.. The one piece that is often forgotten but trumps all these effects is something called "market forces".
Market forces is what happens to your coin when another coin gets a big news hit or a group of other coins get big news hits together. For example, when IOTA data marketplace released, IOTA hit a x5 bull run in a single week. But did you notice all the other alt coins in the red? There are a LOT of traders that are looking at the space as a whole and looking to get in on ANY bull action and will sell their other coins to do so. This effect can also be compounded over a long period of time such as what we witnessed when the bitcoin fork FOMO was going on and alt coins were squeezed continuously to feed it for weeks/months.
These examples really just scratch the surface of market forces but the big takeaway is that your coin or any coin will most certainly fall (or rise) in price at the result of what other coins are doing, with the most well known example being bitcoin’s correlation to every coin on the market. If you don't want to play the market-force game or don't have time for it, then you can never go wrong buying and holding.
It's also important to note that there are layers of investors. There's a top layer of light-stepping investors that are a mixture of day traders and gamblers trying to jump in and jump out to make quick money then look for the next buying (or shorting) opportunity at another coin. There's a middle layer of buyers and holders who did their research, believe in the tech and placing their bets it will win out in the long run. And the bottom layer are the founders and devs that are in it till the bitter end and there to see the vision realized. When a coin goes on a bull run, always expect that any day the top layer is going to pack up and leave to the next coin. But the long game is all about that middle layer. That is the layer that will be giving the bear markets their price-drop resistance. That is why the meme "HODL" is so effective because it very elegantly simplifies this whole concept for the common joe and makes them a part of that middle layer regardless if they understand whats going on or not.


How is IOTA free and how does it scale

IOTA is an altruistic system. Proof of work is done in IOTA just like bitcoin. Only a user’s device/phone must do pow for 2 other transactions before issuing one of its own. Therefore no miners and no fees. And the network becomes faster the more transactions are posted. Because of this, spamming the network is encouraged since they provide pow for 2 other transactions and speed up the network.

IOTA is centralized

IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based in China. Furthermore, the coordinator is not a server in the dev’s basement that secretly processes all the transactions. It’s several nodes all around the globe that add milestone transactions to show the direction of the IF’s tangle within the DAG so people don’t accidentally follow a fork from a malicious actor. Anyone with the know-how can fork the tangle right now with a double-spend. But no one would follow their fork because the coordinator reveals which tangle is the legit IF one. If the coordinator wasn’t there (assuming low honest-transaction volume), there would be no way to discern which path to follow especially after the tangle diverges into forks of forks. Once throughout of honest transactions is significant enough, the “honest tangle” will replace the coordinated one and people will know which one to follow simply because it’s the biggest one in the room.
Referencing the coordinator is also optional.
Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon.
This is another great read covering double spends on IOTA without a coordinator:
This too:
Also this correspondence with Vitalik and Come_from_Beyond
At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.

Can IOTA defend double spend attacks?

99% of these “but did they think about double spend attacks?” type questions could just be answered if people went and did their own research. Yes of course they thought about that. That’s like crypto101…

Will IOTA have smart contracts?

Yes -

Trinary vs binary?

"By using a ternary number system, the amount of devices and cycles can be reduced significantly. In contrast to two-state devices, multistate devices provide better radix economy with the option for further scaling"

Bitcoin with lightning network will make IOTA obsolete.

If you want lightning network, IOTA already released it. Called flash channels.

IOTA rolled its own crypto!
This is why:
Cybercrypt has been hired to review and audit it. IOTA is currently running SHA-3/KECCAK now until Curl is ready.

MIT said bad things about IOTA
And for official formal closure that MIT was completely wrong:

Nick Johnson says IOTA is bad!

Nick Johnson is an ethereum dev who is incentivized to see IOTA fail, see CFBs twitter responses here.
And this
And this
And this

IOTA is not private!

Masked authenticated messages exist right now so data can be transferred privately. Very important for businesses.

Coin privacy

Centralized coin mixer is out that foundation runs. Logs are kept so they can collect data and improve it Folks can copy the coin mixer code and run it themselves. Goal is for mixer to be decentralized and ran by any node.

How do nodes scale? How on earth can all that data be stored?

Full nodes store, update and verify from the last snapshot, which happens roughly every month. Its on the roadmap to make snapshotting automatic and up to each full node’s discretion.With automatic snapshots, each full node will act as a partial perma-node and choose when to snapshot its tangle data. If someone wants to keep their tangle data for several months or even years, they could just choose not to snapshot. Or if they are limited on hard drive space, they could snapshot every week.
Perma-nodes would store the entire history of the tangle from the genesis. These are optional and would likely only be created by companies who wish to sell historical access of the tangle as a service or companies who heavily use the tangle for their own data and want to have quick, convenient access to their data’s history.
Swarm nodes are also in development which will ease the burden on full nodes.

Node discovery is manual? Wtf?

Nelson is fixing has fixed this:

IOTA open source?
IOTA protocol is open source. The coordinator is closed source open source.

Foundation moved user's funds?

My IOTA donation address:

submitted by mufinz2 to Iota [link] [comments]

IOTA and Tangle discussion/info, scam or not?

In the past weeks I heard a lot pros and cons about IOTA, many of them I believe were not true (I'll explain better). I would like to start a serious discussion about IOTA and help people to get into it. Before that I'll contribute with what I know, most things that I will say will have a source link providing some base content.
The pros and cons that I heard a lot is listed below, I'll discuss the items marked with *.


Many users claim that the network infinitely scales, that with more transactions on the network the faster it gets. This is not entirely true, that's why we are seeing the network getting congested (pending transactions) at the moment (12/2017).
The network is composed by full-nodes (stores all transactions), each full-node is capable of sending transactions direct to the tangle. An arbitrary user can set a light-node (do not store all transactions, therefore a reduced size), but as it does not stores all transactions and can't decide if there are conflicting transactions (and other stuff) it needs to connect to a full-node (bitifinex node for example) and then request for the full-node to send a transaction to the tangle. The full-node acts like a bridge for a light-node user, the quantity of transactions at the same time that a full-node can push to the tangle is limited by its brandwidth.
What happens at the moment is that there are few full-nodes, but more important than that is: the majority of users are connected to the same full-node basically. The full-node which is being used can't handle all the requested transactions by the light-nodes because of its brandwidth. If you are a light-node user and is experiencing slow transactions you need to manually select other node to get a better performance. Also, you need to verify that the minimum weight magnitude (difficulty of the Hashcash Proof of Work) is set to 14 at least.
The network seems to be fine and it scales, but the steps an user has to make/know are not friendly-user at all. It's necessary to understand that the technology envolved is relative new and still in early development. Do not buy iota if you haven't read about the technology, there is a high chance of you losing your tokens because of various reasons and it will be your own fault. You can learn more about how IOTA works here.
There are some upcoming solutions that will bring the user-experience to a new level, The UCL Wallet (expected to be released at this month, will talk about that soon and how it will help the network) and the Nelson CarrIOTA (this week) besides the official implementations to come in december.


We all know that currently (2017) IOTA depends on the coordinator because the network is still in its infancy and because of that it is considered centralized by the majority of users.
The coordinator are several full-nodes scattered across the world run by the IOTA foundation. It creates periodic Milestones (zero value transactions which reference valid transactions) which are validated by the entire network. The coordinator sets the general direction for the tangle growth. Every node verifies that the coordinator is not breaking consensus rules by creating iotas out of thin air or approving double-spendings, nodes only tells other nodes about transactions that are valid, if the Coordinator starts issuing bad Milestones, nodes will reject them.
The coordinator is optional since summer 2017, you can choose not implement it in your full-node, any talented programmer could replace Coo logic in IRI with Random Walk Monte Carlo logic and go without its milestones right now. A new kind of distributed coordinator is about to come and then, for the last, its completely removal. You can read more about the coordinator here and here.

Mining-Blockchain-based Cryptocurrencies

These are blockchain-based cryptocurrencies (Bitcoin) that has miners to guarantee its security. Satoshi Nakamoto states several times in the Bitcoin whitepaper that "The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes". We can see in that nowadays half of the total hashpower in Bitcoin is controlled by 3 companies (maybe only 1 in the future?). Users must trust that these companies will behave honestly and will not use its 50%> hashpower to attack the network eventually. With all that said it's reasonable to consider the IOTA network more decentralized (even with the coordinator) than any mining-blockchain-based cryptocurrency
You can see a comparison between DAG cryptocurrencies here

IOTA partnerships

Some partnerships of IOTA foundation with big companies were well known even when they were not officialy published. Some few examples of confirmed partnerships are listed below, others cofirmed partnerships can be seem in the link Partnerships with big companies at the pros section.
So what's up with all alarming in social media about IOTA Foundation faking partnerships with big companies like Microsoft and Cisco?
At Nov. 28th IOTA Foundation announced the Data Marketplace with 30+ companies participating. Basically it's a place for any entity sell data (huge applications, therefore many companies interested), at time of writing (11/12/2017) there is no API for common users, only companies in touch with IOTA Foundation can test it.
A quote from Omkar Naik (Microsoft worker) depicted on the Data Marketplace blog post gave an idea that Microsoft was in a direct partnership with IOTA. Several news websites started writing headlines "Microsoft and IOTA launches" (The same news site claimed latter that IOTA lied about partnership with Microsoft) when instead Microsoft was just one of the many participants of the Data Marketplace. Even though it's not a direct partnership, IOTA and Microsoft are in close touch as seen in IOTA Microsoft and Bosch meetup december 12th, Microsoft IOTA meetup in Paris 14th and Microsoft Azure adds 5 new Blockchain partners (may 2016). If you join the IOTA Slack channel you'll find out that there are many others big companies in close touch with IOTA like BMW, Tesla and other companies. This means that right now there are devs of IOTA working directly with scientists of these companies to help them integrate IOTA on their developments even though there is no direct partnership published, I'll talk more about the use cases soon.
We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative... - Omkar Naik

IOTA's use cases

Every cryptocurrency is capable of being a way to exchange goods, you pay for something using the coin token and receive the product. Some of them are more popular or have faster transactions or anonymity while others offers better scalablity or user-friendness. But none of them (except IOTA) are capable of transactioning information with no costs (fee-less transactions), in an securely form (MAM) and being sure that the network will not be harmed when it gets more adopted (scales). These characteristics open the gates for several real world applications, you probably might have heard of Big Data and how data is so important nowadays.
Data sets grow rapidly - in part because they are increasingly gathered by cheap and numerous information-sensing Internet of things devices such as mobile devices, aerial (remote sensing), software logs, cameras, microphones, radio-frequency identification (RFID) readers and wireless sensor networks.
It’s just the beginning of the data period. Data is going to be so important for human life in the future. So we are now just starting. We are a big data company, but compared to tomorrow, we are nothing. - Jack Ma (Alibaba)
There are enormous quantities of wasted data, often over 99% is lost to the void, that could potentially contain extremely valuable information if allowed to flow freely in data streams that create an open and decentralized data lake that is accessible to any compensating party. Some of the biggest corporations of the world are purely digital like Google, Facebook and Amazon. Data/information market will be huge in the future and that's why there so many companies interested in what IOTA can offer.
There are several real world use cases being developed at the moment, many of them if successful will revolutionize the world. You can check below a list of some of them.
These are just few examples, there are a lot more ongoing and to explore.

IOTA Wallet (v2.5.4 below)

For those who have read a lot about IOTA and know how it works the wallet is fine, but that's not the case for most users. Issues an user might face if decide to use the current wallet:
Problems that could be easily avoided with a better understand of the network/wallet or with a better wallet that could handle these issues. As I explained before, some problems during the "congestion" of the network could be simply resolved if stuff were more user-friendly, this causes many users storing their iotas on exchanges which is not safe either.
The upcoming (dec 2017) UCL Wallet will solve most of these problems. It will switch between nodes automatically and auto-reattach transactions for example (besides other things). You can have full a overview of it here and here. Also, the upcoming Nelson CarrIOTA will help on automatic peer discovery for users setup their nodes more easily.

IOTA Vulnerability issue

On sept 7th 2017 a team from MIT reported a cryptographic issue on the hash function Curl. You can see the full response of IOTA members below.
Funds were never in danger as such scenarios depicted on the Neha's blogpost were not pratically possible and the arguments used on the blogpost had'nt fundamentals, all the history you can check by yourself on the responses. Later it was discovered that the whole Neha Narula's team were envolved in other concurrent cryptocurrency projects
Currently IOTA uses the relatively hardware intensive NIST standard SHA-3/Keccak for crucial operations for maximal security. Curl is continuously being audited by more cryptographers and security experts. Recenlty IOTA Foundation hired Cybercrypt, the world leading lightweight cryptography and security company from Denmark to take the Curl cryptography to its next maturation phase.
It took me a couple of days to gather the informations presented, I wanted it to make easier for people who want to get into it. It might probably have some mistakes so please correct me if I said something wrong. Here are some useful links for the community.
This is my IOTA donation address, in case someone wants to donate I will be very thankful. I truly believe in this project's potential.
This is a donation address, if you want to do the same you might pay attention to some important details:
  • Create a seed for only donation purposes.
  • Generate a address and publish it for everyone.
  • If you spend any iota you must attach a new address to the tangle and refresh your donation address published before to everyone.
  • If someone sends iota to your previous donation address after you have spent from it you will probably lose the funds that were sent to that specific address.
  • You can visualize how addresses work in IOTA here and here.
This happens because IOTA uses Winternitz one-time signature to become quantum resistent. Every time you spend iota from a address, part of the private key of that specific address is revealed. This makes easier for attackers to steal that address balance. Attackers can search if an address has been reused on the tangle explorer and try to brute force the private key since they already know part of it.
submitted by mvictordbz to CryptoCurrency [link] [comments]

[GUIDE] Convert DRP to DRPS or DRPU.

IMPORTANT: none of the methods will work unless your address is whitelisted at

verify first or trade OTC

If you want DRPU, I'd like to trade your DRP for my DRPU

(2 DPRU for 1 DRP, the standard ratio).

(We can trade in small amounts if you don't trust me)
Below I will describe three ways to convert DRP to DRPU or DRPS.

Please try the official way first.

There's basically two steps, each with their own sub-steps. I will first explain what the steps do, and then explain how to do them. No matter which way you choose (they just get increasingly technical).
The first step is to approve the contract (there is two different contracts, one for DRPU, and one for DRPS, approve the right one). Without approval, the second step will fail.
In other words, step one is all about saying "this address (the contract) is allowed to spend X amount of DRP from my address". Obviously, you only want to approve the right contract, not anyone else.
The second step is to actually make the contract burn your DRP and return you the right amount of DRPU or DRPS (depending on which contract you talk to). The second step is exactly the same for DRPU and DRPS, the only difference is the contract adress. So don't use the wrong adress or you'll recieve the wrong coin, and that can not be undone! (you could attempt to trade it at the market though, but there is currently no way to turn DRPU into DRPS and vice versa, and neither can you get your DRP back).
Now for the actual steps:

The official way

DRPS: DCorp Security Token DRPU: DCorp Utility Token
Just follow the steps on the website. If that doesn't work, try:

The etherscan way

Step 1a:

copypaste the contract address you need into notepad.
  • DPRS: 0x3366cfd8dd3fc653e7dcd56cb9111d848b3732e2
  • DRPU: 0xee2972a6177c28f3efacb1862a1a8507c3f10faa

Step 1b:

Step 1c

  • copypaste the address from step 1a into the _spender(address) field under "1. approve"
  • put the amount of DRP you want to convert, followed by exactly 2 zeroes (unless you want to send fractional DRP, in which case you add fewer zeroes, for example a 50 is 0.5 DRP) (Think of it like sending "cents" of DRP, so 100 cents is 1 DRP).

Step 1d

  • press "write"
  • confirm with metamask
wait for confirmation (only 1 confirmation is enough) it should look something like this

Step 2a

Step 2b (it's the same for DRPS and DRPU)

  • connect metamask
  • scroll down to "6. requestConversion"
  • input the same value as in step 1c (technically you could use any value lower or exactly equal, but why would you?)
  • it should look something like this

Step 2c

  • press "write"
  • confirm with metamask


it should look something like this
you should have your tokens now, and your DRP are burned.

The hard way

Step 1a:

  • Log in to metamask, or whatever your favorite wallet is (i will assume metamask in this guide but this method works for any wallet, although the steps wil not be exactly the same obviously)
  • go to settings -> advanced (helpfull image 1 and 2)
  • scroll down and turn on "hex data"
  • now when you send an ether transaction you should have a "hex data" or "data" field in the bottom. (It should look something like this)

Step 1b:

  • calculate how many DRP you want to send, open the windows calculator in programmer mode (or any online dec to hex converter) and input the amount of DRP you want to send with two extra zeroes.
  • read the HEX value. (for example if you want to send 1234 DRP you should enter 123400 into the calculator, and your answer will be 1E208) Helpful image
  • If you want to send fractions, for example 12.5 DRP you input 1250 (so basically you multiply by 100) and you would get 4E2.
  • write down the HEX value in notepad.
  • copypaste this 0000000000000000000000000000000000000000000000000000000000000000 and paste it under your hex value
  • add 0s in front of your hex value until both strings are of equal length (you should have exactly 64 digits, no more, no less).

Step 1c:

  • for DRPS: copypaste this "0x095ea7b30000000000000000000000003366cfd8dd3fc653e7dcd56cb9111d848b3732e2" into your notepad and paste it in front of your 64-digit number, don't have any spaces in between, don't add the quotes.
  • for DRPU: copypaste this "0x095ea7b3000000000000000000000000ee2972a6177c28f3efacb1862a1a8507c3f10faa" into your notepad and paste it in front of your 64-digit number, don't have any spaces in between, don't add the quotes.

Step 1d (same for both tokens):

  • if you have done step 1c correctly you should have something similar to "0x095ea7b3000000000000000000000000ee2972a6177c28f3efacb1862a1a8507c3f10faa00000000000000000000000000000000000000000000000000000000000185ea" in your notepad.
  • send 0 eth to 0x621d78f2ef2fd937bfca696cabaf9a779f59b3ed and in the data field copypaste the data from your notepad.

Step 1e:

Wait for it to confirm (1 confirmation is enough).

Step 2a:

  • copypaste this into a new line in your notepad: 0xc6afd98a
  • copy the last 64 digits of the last string (the hexadecimal representation of the amount of tokens you want to convert) to the end of that line
  • you should now have something like this: 0xc6afd98a00000000000000000000000000000000000000000000000000000000000185ea

Step 2b

  • for DRPS: send 0 eth to 0x3366cfd8dd3fc653e7dcd56cb9111d848b3732e2 with the data string you should have in your notepad (the short one)
  • for DRPU: send 0 eth to 0xee2972a6177c28f3efacb1862a1a8507c3f10faa with the data string you should have in your notepad (the short one)



The data always starts with 0x (this basically means, the data is encoded in hexadecimal numbers), the 8 digits after that is a hash (keccak-256) of the function name, so the contract knows which function you are calling, and which arguments to expect (for example requestConversion(uint256) and approve(address,uint256)) all other information after that is always exactly 256 bits of information (per argument), so 64 digits long (if the actual information is less than 64 digits long, it adds 0s in the front until it is exactly 64 digits long. Also, in ethereum addresses the leading 0x gets dropped (because the data already starts with 0x). Numbers of course are converted into hexadecimal, and in the "atomic units" of what you're sending (like a satoshi in bitcoin). DRP has a "precision" of 2 so if you enter "0000000000000000000000000000000000000000000000000000000000000001" that means 0.01 DRP, and 0000000000000000000000000000000000000000000000000000000000000010 means 0.16 DRP (remember, it's hexadecimal, not decimal).
submitted by zimmah to dcorp [link] [comments]

Soft-forking the block time to 2 min: my primarily silly and academic (but seemingly effective) entry to the "increase the blockchain's capacity in an arbitrarily roundabout way as long as it's a softfork" competition

So given that large portions of the bitcoin community seem to be strongly attached to this notion that hard forks are an unforgivable evil, to the point that schemes containing hundreds of lines of code are deemed to be a preferred alternative, I thought that I'd offer an alternative strategy to increasing the bitcoin blockchain's throughput with nothing more than a soft fork - one which is somewhat involved and counterintuitive, but for which the code changes are actually quite a bit smaller than some of the alternatives; particularly, "upper layers" of the protocol stack should need no changes at all.
The attack vector is as follows. Instead of trying to increase the size of an individual block directly, we will create a softfork where under the softfork rules, miners are compelled to insert incorrect timestamps, so as to trick the bitcoin blockchain into retargeting difficulty in such a way that on average, a block comes every two minutes instead of once every ten minutes, thereby increasing throughput to be equivalent to a 5 MB block size.
First, let us go over the bitcoin block timestamp and difficulty retargeting rules:
The last rule ensures that difficulty adjustments are "clamped" between a 4x increase and a 4x decrease no matter what.
So, how to we do this? Let's suppose for the sake of simplicity that in all examples the soft fork starts at unix time 1500000000. We could say that instead of putting the real time into blocks, miners should put 1500000000 + (t - 1500000000) * 5; this would make the blockchain think that blocks are coming 5x as rarely, and so it would decrease difficulty by a factor of 5, so that from the point of view of actual time blocks will start coming in every two minutes instead of ten. However, this approach has one problem: it is not a soft fork. Users running the original bitcoin client will very quickly start rejecting the new blocks because the timestamps are too far into the future.
Can we get around this problem? You could use 1500000000 + (t - 1500000000) * 0.2 as the formula instead, and that would be a soft fork, but that would be counterproductive: if you do that, you would instead reduce the real-world block throughput by 5x. You could try to look at schemes where you pretend that blocks come quickly sometimes and slowly at other times and "zigzag" your way to a lower net equilibrium difficulty, but that doesn't work: for mathematical reasons that have to do with the fact that 1/x always has a positive second derivative, any such strategy would inevitably gain more difficulty going up than it would lose coming down (at least as long as it stays within the constraint that "fake time" must always be less than or equal to "real time").
However, there is one clever way around this. We start off by running a soft fork that sets fake_time = 1500000000 + (real_time - 1500000000) * 0.01 for as long as is needed to get fake time 12 weeks behind real time. However, we add an additional rule: every 2016th block, we set the block timestamp equal to real time (this rule is enforced by soft-fork: if you as a miner don't do this, other miners don't build on top of your block). This way, the difficulty retargeting algorithm has no idea that anything is out of the ordinary, and so difficulty just keeps adjusting as normal. Note that because the timestamp of each block need only be higher than the median of the timestamps of the previous 11 blocks, and not necessarily higher than that of the immediately previous block, it's perfectly fine to hop right back to fake time after those single blocks at real time. During those 12 weeks, we also add a soft-forking change which invalidates a random 20% of blocks in the first two weeks, a random 36% of blocks in the second two weeks, 50% in the third two weeks, etc; this creates a gap between in-protocol difficulty and de-facto difficulty that will hit 4x by the time we start the next step (we need this to avoid having an 8-week period where block throughput is at 250 kb per 10 minutes).
Then, once we have 12 weeks of "leeway", we perform the following maneuver. We do the first retarget with the timestamp equal to fake time; this increases difficulty by 4x (as the timestamp difference is -12 weeks, which gets clamped to the minimum of 302400 seconds = 0.5 weeks). The retarget after that, we set the timestamp 8 weeks ahead of fake time, so as to get the difficulty down 4x. The retargeting round after that, we determine the actual retargeting coefficient c that we want to have, and clamp it so that 0.5 <= c < 2. We set the block timestamp c * 2 weeks ahead of the timestamp of the previous retargeting block. Then, in the retargeting round after that, we set the block timestamp back at fake time, and start the cycle again. Rinse and repeat forever.
Diagram here:
Hence, in general we spend 2/3 of our retargeting periods in lower-difficulty mode, and 1/3 in higher-difficulty. We choose c to target the block time in lower-difficulty mode to 30 seconds, so that in higher-difficulty mode it will be two minutes. In lower-difficulty mode, we add another softfork change in order to make a random 75% of blocks that get produced invalid (eg. one simple way to do this is to just pretend that the difficulty during these periods is 4x higher), so the actual block time duing all periods will converge toward two minutes - equivalent to a throughput of 5 MB every ten minutes.
Note that a corollary of this is that it is possible for a majority of miners to collude using the technique above to make the block rewards come out 5x faster (or even more) than they are supposed to, thereby greatly enriching themselves at the expense of future network security. This is a slight argument in favor of bitcoin's finite supply over infinite supply models (eg. dogecoin), because in an infinite supply model this means that you can actually permanently expand issuance via a soft fork rather than just making the existing limited issuance come out faster. This is a quirk of bitcoin's difficulty adjustment algorithm specifically; other algorithms are immune to this specific trick though they may be vulnerable to tricks of their own.
I looked at the code again and it seems like the difficulty retargeting algorithm might actually only look 2015 blocks back every 2016 blocks rather than every 2016 blocks (ie. it checks the timestamp difference between block 2016*k+2015 and 2016*k, not 2016*k+2016 and 2016*k as I had assumed). In that case, the timestamp dance and the initial capacity adjustment process might actually be substantially simpler than I thought: it would simply be a one-step procedure of always setting the timestamp at 2016*k to equal real time and then setting the timestamp of 2016*k+2015 to whatever is convenient for achieving the desired difficulty adjustment.
I think I may have been wrong about the effectiveness of this strategy being limited by the minimum safe block time. Specifically, note that you can construct a soft fork where the in-protocol difficulty drops to the point where it's negligible, and say that all blocks where block.number % N != 0 have negligible difficulty but blocks where block.number % N = 0 are soft-forked to have higher de-facto difficulty; in this case, a miner's optimal strategy will be to simultaneously generate N-1 easy blocks and a hard block and if successful publish them as a package, creating a "de-facto block" of theoretically unlimited size.
submitted by vbuterin to btc [link] [comments]

InterValue Blockchain 4.0 : registration for full node | light node | bounty | airdrop |

InterValue Blockchain 4.0 : registration for full node | light node | bounty | airdrop |
Introduction to InterValue :
InterValue vision is to create a platform which enables all information and assets in the real world to circulate and transfer freely, securely and secretly in the parallel virtual world.
Why InterValue : To explain this , I need your help here. Please follow the instructions. I promise, It will be a quick and fun exercise.
Fun exercise
  1. Raise your right leg (~30 degree) & start to move it in clockwise direction.
  2. Now while you continue moving your right leg in clockwise direction, Raise your right arm (90 degree) and point finger.
  3. Draw "6" in thin air with your right arm.
  4. Did you notice a difference in your leg movement. It would have started to give you difficulty or move in anticlockwise direction.
This is how other blockchain projects are. They turn their back on you and fall short to deliver as promised.
But with Intervalue its different. If instead of '6', you draw 'C', you will continue to move in clockwise direction. "Continual improvement & deliverables". InterValue team has already shown testnet results (video link below) of their ambitious project proving their commitment to developing intervalue and proving viability of their idea.
What InterValue blockchain project covers :

Advantages of InterValue :

  1. Bitcoin or ETH transactions can take long time to settle and high fees which means there are inherent problems in the idea like will you be able to use them to pay for a cup of coffee in your lunch hour. To solve the most spoken problem in blockchain "Scalability", InterValue has developed a double-layer consensus mechanism consisting of HashNet consensus and BA-VRF (Byzantine Agreement based on Verifiable Random Function) consensus, which supports high transaction concurrency, fast confirmation and building eco-systems for different application scenarios.
  2. Each day growing use of blockchain puts significant storage costs on miners wanting to run a full node and with the increasing costs (both in time and money) of storing the state, fewer and fewer people are choosing to run full nodes, which many worry will centralize the network into the hands of only a few arbitrators. InterValue solves this problem by introduction Hash-Net, a new data structure Hash-Net derived from DAG (directed acyclic graph) which greatly reduces storage space required by nodes and improves efficiency and security of data storage.
  3. The use of distributed ledger technology allows full transparency over transactions. For some blockchain applications, some vital information can’t be accessed by just anyone. Think of this, will you like anyone to see your transactions history and know you bought coffee in your lunch hour, No. InterValue achieves the transaction anonymity by applying tor-like P2P anonymity, zero-knowledge proof and ring signature which allows transaction anonymity and privacy protection and performs with high cost-effective ratio and excellent security to satisfy privacy requirements in different application scenarios.
  4. Smart contracts, InterValue uses Moses virtual machine. MVM is able to access of Blockchain data conveniently and securely, and supports issuance of third-party assets, which can be integrated into applications in terms of public, permissioned (private) or consortium (hybrid) Blockchain.
  5. Anti-quantum attack, new anti-quantum algorithms are devised, which uses Keccak-512 hash algorithm and integer lattice-based NTRUsign signature algorithm. These algorithms reduce the threat coming from development of quantum computing and gradual popularization of quantum computer.
  6. Currently more than 1500 different cryptocurrencies are in existence. As the ecosystem expands, so does the need for these blockchains to be able to communicate with each other. Intervalue, adopts chain-relaying technology to solve the problems in crossing chains transaction and transparent operations among multiple chains, which not only can maintain independence of crossing chains operation, but also reuse various function of InterValue.
You can contribute to the project development and be part of the ecosystem by enrolling your interest to run full node | light node. Registration link >>
Local full node : (last date 20th Jul)
Light node : (last date 20th Jul)
Airdrop / Bounty : (In-progress)
A bit about how Full node and Light node will work :
As a user when you send transactions which happens through local full nodes, the user has to first perform a low-level PoW calculation before initiating the transaction. This is put in-place to avoid malicious users from having DDoS attacks. After that, it submits the transaction to the local full node for processing. If the transaction is a cross-sharding transaction, it needs to be further submitted to the full node.
Full nodes and local full nodes which participate in consensus verify whether the hash of the transaction meets the difficulty of mining. Once the transaction is verified and stabilized, the local full node and the full node (in the case of cross-sharding transaction) that send the transaction can receive a corresponding number of INVE tokens as mining rewards. In order to reward the contribution of full nodes and local full nodes to help reach a consensus on the entire network, 6 billion INVE tokens are generated through mining as reward.
Token metrics : [60% reserved for Mining]
Total supply : 10 Billion INVE tokens
Available in private sale : 900 Million INVE
No pre-sale or crowd sale. To be replaced by airdrop and community engagement activities which amounts to 200 Million INVE
Total token supply will be 10 billion, of which 6 billion will be generated by mining [60% reserved for Mining]
Current development stage : InterValue 2.0 testnet launch
Testnet video links >>
InterValue Introduction video
InterValue full node
submitted by OneBlockAwayICO to u/OneBlockAwayICO [link] [comments]

The Nexus FAQ - part 1

Full formatted version:

Nexus 101:

  1. What is Nexus?
  2. What benefits does Nexus bring to the blockchain space?
  3. How does Nexus secure the network and reach consensus?
  4. What is quantum resistance and how does Nexus implement this?
  5. What is Nexus’ Unified Time protocol?
  6. Why does Nexus need its own satellite network?

The Nexus Currency:

  1. How can I get Nexus?
  2. How much does a transaction cost?
  3. How fast does Nexus transfer?
  4. Did Nexus hold an ICO? How is Nexus funded?
  5. Is there a cap on the number of Nexus in existence?
  6. What is the difference between the Oracle wallet and the LLD wallet?
  7. How do I change from Oracle to the LLD wallet?
  8. How do I install the Nexus Wallet?

Types of Mining or Minting:

  1. Can I mine Nexus?
  2. How do I mine Nexus?
  3. How do I stake Nexus?
  4. I am staking with my Nexus balance. What are trust weight, block weight and stake weight?

Nexus 101:

1. What is Nexus (NXS)?
Nexus is a digital currency, distributed framework, and peer-to-peer network. Nexus further improves upon the blockchain protocol by focusing on the following core technological principles:
Nexus will combine our in-development quantum-resistant 3D blockchain software with cutting edge communication satellites to deliver a free, distributed, financial and data solution. Through our planned satellite and ground-based mesh networks, Nexus will provide uncensored internet access whilst bringing the benefits of distributed database systems to the world.
For a short video introduction to Nexus Earth, please visit this link
2. What benefits does Nexus bring to the blockchain space?
As Nexus has been developed, an incredible amount of time has been put into identifying and solving several key limitations:
Nexus is also developing a framework called the Lower Level Library. This LLL will incorporate the following improvements:
For information about more additions to the Lower Level Library, please visit here
3. How does Nexus secure the network and reach consensus?
Nexus is unique amongst blockchain technology in that Nexus uses 3 channels to secure the network against attack. Whereas Bitcoin uses only Proof-of-Work to secure the network, Nexus combines a prime number channel, a hashing channel and a Proof-of-Stake channel. Where Bitcoin has a difficulty adjustment interval measured in weeks, Nexus can respond to increased hashrate in the space of 1 block and each channel scales independently of the other two channels. This stabilizes the block times at ~50 seconds and ensures no single channel can monopolize block production. This means that a 51% attack is much more difficult to launch because an attacker would need to control all 3 channels.
Every 60 minutes, the Nexus protocol automatically creates a checkpoint. This prevents blocks from being created or modified dated prior to this checkpoint, thus protecting the chain from malicious attempts to introduce an alternate blockchain.
4. What is quantum resistance and how does Nexus implement it?
To understand what quantum resistance is and why it is important, you need to understand how quantum computing works and why it’s a threat to blockchain technology. Classical computing uses an array of transistors. These transistors form the heart of your computer (the CPU). Each transistor is capable of being either on or off, and these states are used to represent the numerical values 1 and 0.
Binary digits’ (bits) number of states depends on the number of transistors available, according to the formula 2n, where n is the number of transistors. Classical computers can only be in one of these states at any one time, so the speed of your computer is limited to how fast it can change states.
Quantum computers utilize quantum bits, “qubits,” which are represented by the quantum state of electrons or photons. These particles are placed into a state called superposition, which allows the qubit to assume a value of 1 or 0 simultaneously.
Superposition permits a quantum computer to process a higher number of data possibilities than a classical computer. Qubits can also become entangled. Entanglement makes a qubit dependant on the state of another, enabling quantum computing to calculate complex problems, extremely quickly.
One such problem is the Discrete Logarithm Problem which elliptic curve cryptography relies on for security. Quantum computers can use Shor’s algorithm to reverse a key in polynomial time (which is really really really fast). This means that public keys become vulnerable to quantum attack, since quantum computers are capable of being billions of times faster at certain calculations. One way to increase quantum resistance is to require more qubits (and more time) by using larger private keys:
Bitcoin Private Key (256 bit) 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF
Nexus Private Key (571 bit) 6Wuiv513R18o5cRpwNSCfT7xs9tniHHN5Lb3AMs58vkVxsQdL4atHTF Vt5TNT9himnCMmnbjbCPxgxhSTDE5iAzCZ3LhJFm7L9rCFroYoqz
Bitcoin addresses are created by hashing the public key, so it is not possible to decrypt the public key from the address; however, once you send funds from that address, the public key is published on the blockchain rendering that address vulnerable to attack. This means that your money has higher chances of being stolen.
Nexus eliminates these vulnerabilities through an innovation called signature chains. Signature chains will enable access to an account using a username, password and PIN. When you create a transaction on the network, you claim ownership of your signature chain by revealing the public key of the NextHash (the hash of your public key) and producing a signature from the one time use private key. Your wallet then creates a new private/public keypair, generates a new NextHash, including the corresponding contract. This contract can be a receive address, a debit, a vote, or any other type of rule that is written in the contract code.
This keeps the public key obscured until the next transaction, and by divorcing the address from the public key, it is unnecessary to change addresses in order to change public keys. Changing your password or PIN code becomes a case of proving ownership of your signature chain and broadcasting a new transaction with a new NextHash for your new password and/or PIN. This provides the ability to login to your account via the signature chain, which becomes your personal chain within the 3D chain, enabling the network to prove and disprove trust, and improving ease of use without sacrificing security.
The next challenge with quantum computers is that Grover’s algorithm reduces the security of one-way hash function by a factor of two. Because of this, Nexus incorporates two new hash functions, Skein and Keccak, which were designed in 2008 as part of a contest to create a new SHA3 standard. Keccak narrowly defeated Skein to win the contest, so to maximize their potential Nexus combines these algorithms. Skein and Keccak utilize permutation to rotate and mix the information in the hash.
To maintain a respective 256/512 bit quantum resistance, Nexus uses up to 1024 bits in its proof-of-work, and 512 bits for transactions.
5. What is the Unified Time protocol?
All blockchains use time-stamping mechanisms, so it is important that all nodes operate using the same clock. Bitcoin allows for up to 2 hours’ discrepancy between nodes, which provides a window of opportunity for the blockchain to be manipulated by time-related attack vectors. Nexus eliminates this vulnerability by implementing a time synchronization protocol termed Unified Time. Unified Time also enhances transaction processing and will form an integral part of the 3D chain scaling solution.
The Unified Time protocol facilitates a peer-to-peer timing system that keeps all clocks on the network synchronized to within a second. This is seeded by selected nodes with timestamps derived from the UNIX standard; that is, the number of seconds since January 1st, 1970 00:00 UTC. Every minute, the seed nodes report their current time, and a moving average is used to calculate the base time. Any node which sends back a timestamp outside a given tolerance is rejected.
It is important to note that the Nexus network is fully synchronized even if an individual wallet displays something different from the local time.
6. Why does Nexus need its own satellite network?
One of the key limitations of a purely electronic monetary system is that it requires a connection to the rest of the network to verify transactions. Existing network infrastructure only services a fraction of the world’s population.
Nexus, in conjunction with Vector Space Systems, is designing communication satellites, or cubesats, to be launched into Low Earth Orbit in 2019. Primarily, the cubesat mesh network will exist to give Nexus worldwide coverage, but Nexus will also utilize its orbital and ground mesh networks to provide free and uncensored internet access to the world.

The Nexus Currency (NXS):

1. How can I get Nexus?
There are two ways you can obtain Nexus. You can either buy Nexus from an exchange, or you can run a miner and be rewarded for finding a block. If you wish to mine Nexus, please follow our guide found below.
Currently, Nexus is available on the following exchanges:
Nexus is actively reaching out to other exchanges to continue to be listed on cutting edge new financial technologies..
2. How much does a transaction cost?
Under Nexus, the fee structure for making a transaction depends on the size of your transaction. A default fee of 0.01 NXS will cover most transactions, and users have the option to pay higher fees to ensure their transactions are processed quickly.
When the 3D chain is complete and the initial 10-year distribution period finishes, Nexus will absorb these fees through inflation, enabling free transactions.
3. How fast does Nexus transfer?
Nexus reaches consensus approximately every ~ 50 seconds. This is an average time, and will in some circumstances be faster or slower. NXS currency which you receive is available for use after just 6 confirmations. A confirmation is proof from a node that the transaction has been included in a block. The number of confirmations in this transaction is the number that states how many blocks it has been since the transaction is included. The more confirmations a transaction has, the more secure its placement in the blockchain is.
4. Did Nexus hold an ICO? How is Nexus funded?
The Nexus Embassy, a 501(C)(3) not-for-profit corporation, develops and maintains the Nexus blockchain software. When Nexus began under the name Coinshield, the early blocks were mined using the Developer and Exchange (Ambassador) addresses, which provides funding for the Nexus Embassy.
The Developer Fund fuels ongoing development and is sourced by a 1.5% commission per block mined, which will slowly increase to 2.5% after 10 years. This brings all the benefits of development funding without the associated risks.
The Ambassador (renamed from Exchange) keys are funded by a 20% commission per block reward. These keys are mainly used to pay for marketing, and producing and launching the Nexus satellites.
When Nexus introduces developer and ambassador contracts, they will be approved, denied, or removed by six voting groups namely: currency, developer, ambassador, prime, hash, and trust.
Please Note: The Nexus Embassy reserves the sole right to trade, sell and or use these funds as required; however, Nexus will endeavor to minimize the impact that the use of these funds has upon the NXS market value.
5. Is there a cap on the number of NXS in existence?
After an initial 10-year distribution period ending on September 23rd, 2024, there will be a total of 78 million NXS. Over this period, the reward gradient for mining Nexus follows a decaying logarithmic curve instead of the reward halving inherent in Bitcoin. This avoids creating a situation where older mining equipment is suddenly unprofitable, encouraging miners to continue upgrading their equipment over time and at the same time reducing major market shocks on block halving events.
When the distribution period ends, the currency supply will inflate annually by a maximum of 3% via staking and by 1% via the prime and hashing channels. This inflation is completely unlike traditional inflation, which degrades the value of existing coins. Instead, the cost of providing security to the blockchain is paid by inflation, eliminating transaction fees.
Colin Cantrell - Nexus Inflation Explained
6. What is the difference between the LLD wallet and the Oracle wallet?
Due to the scales of efficiency needed by blockchain, Nexus has developed a custom-built database called the Lower Level Database. Since the development of the LLD wallet, which is a precursor to the Tritium updates, you should begin using the LLD wallet to take advantage of the faster load times and improved efficiency.
The Oracle wallet is a legacy wallet which is no longer maintained or updated. It utilized the Berkeley DB, which is not designed to meet the needs of a blockchain. Eventually, users will need to migrate to the LLD wallet. Fortunately, the wallet.dat is interchangeable between wallets, so there is no risk of losing access to your NXS.
7. How do I change from Oracle to the LLD wallet?
Step 1 - Backup your wallet.dat file. You can do this from within the Oracle wallet Menu, Backup Wallet.
Step 2 - Uninstall the Oracle wallet. Close the wallet and navigate to the wallet data directory. On Windows, this is the Nexus folder located at %APPDATA%\Nexus. On macOS, this is the Nexus folder located at ~/Library/Application Support/Nexus. Move all of the contents to a temporary folder as a backup.
Step 3 - Copy your backup of wallet.dat into the Nexus folder located as per Step 2.
Step 4 - Install the Nexus LLD wallet. Please follow the steps as outlined in the next section. Once your wallet is fully synced, your new wallet will have access to all your addresses.
8. How do I install the Nexus Wallet?
You can install your Nexus wallet by following these steps:
Step 1 - Download your wallet from Click the Downloads menu at the top and select the appropriate wallet for your operating system.
Step 2 - Unzip the wallet program to a folder. Before running the wallet program, please consider space limitations and load times. On the Windows OS, the wallet saves all data to the %APPDATA%\Nexus folder, including the blockchain, which is currently ~3GB.
On macOS, data is saved to the ~/Library/Application Support/Nexus folder. You can create a symbolic link, which will allow you to install this information in another location.
Using Windows, follow these steps:
On macOS, follow these steps:
Step 3 (optional) - Before running the wallet, we recommend downloading the blockchain database manually. Nexus Earth maintains a copy of the blockchain data which can save hours from the wallet synchronization process. Please go to and click the Downloads menu.
Step 4 (optional) - Extract the database file. This is commonly found in the .zip or .rar format, so you may need a program like 7zip to extract the contents. Please extract it to the relevant directory, as outlined in step 2.
Step 5 - You can now start your wallet. After it loads, it should be able to complete synchronization in a short time. This may still take a couple of hours. Once it has completed synchronizing, a green check mark icon will appear in the lower right corner of the wallet.
Step 6 - Encrypt your wallet. This can be done within the wallet, under the Settings menu. Encrypting your wallet will lock it, requiring a password in order to send transactions.
Step 7 - Backup your wallet.dat file. This can be done from the File menu inside the wallet. This file contains the keys to the addresses in your wallet. You may wish to keep a secure copy of your password somewhere, too, in case you forget it or someone else (your spouse, for example) ever needs it.
You should back up your wallet.dat file again any time you create – or a Genesis transaction creates (see “staking” below) – a new address.

Types of Mining or Minting:

1.Can I mine Nexus?
Yes, there are 2 channels that you can use to mine Nexus, and 1 channel of minting:
Prime Mining Channel
This mining channel looks for a special prime cluster of a set length. This type of calculation is resistant to ASIC mining, allowing for greater decentralization. This is most often performed using the CPU.
Hashing Channel
This channel utilizes the more traditional method of hashing. This process adds a random nonce, hashes the data, and compares the resultant hash against a predetermined format set by the difficulty. This is most often performed using a GPU.
Proof of Stake (nPoS)
Staking is a form of mining NXS. With this process, you can receive NXS rewards from the network for continuously operating your node (wallet). It is recommended that you only stake with a minimum balance of 1000 NXS. It’s not impossible to stake with less, but it becomes harder to maintain trust. Losing trust resets the interest rate back to 0.5% per annum.
2. How do I mine Nexus?
As outlined above, there are two types of mining and 1 proof of stake. Each type of mining uses a different component of your computer to find blocks, the CPU or the GPU. Nexus supports CPU and GPU mining on Windows only. There are also third-party macOS builds available.
Please follow the instructions below for the relevant type of miner.
Prime Mining:
Almost every CPU is capable of mining blocks on this channel. The most effective method of mining is to join a mining pool and receive a share of the rewards based on the contribution you make. To create your own mining facility, you need the CPU mining software, and a NXS address. This address cannot be on an exchange. You create an address when you install your Nexus wallet. You can find the related steps under How Do I Install the Nexus Wallet?
Please download the relevant miner from Please note that there are two different miner builds available: the prime solo miner and the prime pool miner. This guide will walk you through installing the pool miner only.
Step 1 - Extract the archive file to a folder.
Step 2 - Open the miner.conf file. You can use the default host and port, but these may be changed to a pool of your choice. You will need to change the value of nxs_address to the address found in your wallet. Sieve_threads is the number of CPU threads you want to use to find primes. Ptest_threads is the number of CPU threads you want to test the primes found by the sieve. As a general rule, the number of threads used for the sieve should be 75% of the threads used for testing.
It is also recommended to add the following line to the options found in the .conf file:
"experimental" : "true"
This option enables the miner to use an improved sieve algorithm which will enable your miner to find primes at a faster rate.
Step 3 - Run the nexus_cpuminer.exe file. For a description of the information shown in this application, please read this guide.
The GPU is a dedicated processing unit housed on-board your graphics card. The GPU is able to perform certain tasks extremely well, unlike your CPU, which is designed for parallel processing. Nexus supports both AMD and Nvidia GPU mining, and works best on the newer models. Officially, Nexus does not support GPU pool mining, but there are 3rd party miners with this capability.
The latest software for the Nvidia miner can be found here. The latest software for the AMD miner can be found here. The AMD miner is a third party miner. Information and advice about using the AMD miner can be found on our Slack channel. This guide will walk you through the Nvidia miner.
Step 1 - Close your wallet. Navigate to %appdata%\Nexus (~/Library/Application Support/Nexus on macOS) and open the nexus.conf file. Depending on your wallet, you may or may not have this file. If not, please create a new txt file and save it as nexus.conf
You will need to add the following lines before restarting your wallet:
Step 2 - Extract the files into a new folder.
Step 3 - Run the nexus.bat file. This will run the miner and deposit any rewards for mining a block into the account on your wallet.
For more information on either Prime Mining or Hashing, please join our Slack and visit the #mining channel. Additional information can be found here.
3. How do I stake Nexus?
Once you have your wallet installed, fully synchronized and encrypted, you can begin staking by:
After you begin staking, you will receive a Genesis transaction as your first staking reward. This establishes a Trust key in your wallet and stakes your wallet balance on that key. From that point, you will periodically receive additional Trust transactions as further staking rewards for as long as your Trust key remains active.
IMPORTANT - After you receive a Genesis transaction, backup your wallet.dat file immediately. You can select the Backup Wallet option from the File menu, or manually copy the file directly. If you do not do this, then your Nexus balance will be staked on the Trust key that you do not have backed up, and you risk loss if you were to suffer a hard drive failure or other similar problem. In the future, signature chains will make this precaution unnecessary.
4. I am staking with my Nexus balance. What are interest rate, trust weight, block weight, and stake weight?
These items affect the size and frequency of staking rewards after you receive your initial Genesis transaction. When staking is active, the wallet displays a clock icon in the bottom right corner. If you hover your mouse pointer over the icon, a tooltip-style display will open up, showing their current values.
Please remember to backup your wallet.dat file (see question 3 above) after you receive a Genesis transaction.
Interest Rate - The minting rate at which you will receive staking rewards, displayed as an annual percentage of your NXS balance. It starts at 0.5%, increasing to 3% after 12 months. The rate increase is not linear but slows over time. It takes several weeks to reach 1% and around 3 months to reach 2%.
With this rate, you can calculate the average amount of NXS you can expect to receive each day for staking.
Trust Weight - An indication of how much the network trusts your node. It starts at 5% and increases much more quickly than the minting (interest) rate, reaching 100% after one month. Your level of trust increases your stake weight (below), thus increasing your chances of receiving staking transactions. It becomes easier to maintain trust as this value increases.
Block Weight - Upon receipt of a Genesis transaction, this value will begin increasing slowly, reaching 100% after 24 hours. Every time you receive a staking transaction, the block weight resets. If your block weight reaches 100%, then your Trust key expires and everything resets (0.5% interest rate, 5% trust weight, waiting for a new Genesis transaction).
This 24-hour requirement will be replaced by a gradual decay in the Tritium release. As long as you receive a transaction before it decays completely, you will hold onto your key. This change addresses the potential of losing your trust key after months of staking simply because of one unlucky day receiving trust transactions.
Stake Weight - The higher your stake weight, the greater your chance of receiving a transaction. The exact value is a derived by a formula using your trust weight and block weight, which roughly equals the average of the two. Thus, each time you receive a transaction, your stake weight will reset to approximately half of your current level of trust.
submitted by scottsimon36 to nexusearth [link] [comments]

[BUILD] COSMiC: Community Open-Source Miner including CUDA v2.10.0-pre5 + HashBurner V1 (ongoing)

Hello 0xBitcoin Community! I'm excited to share my work with you today.
v3.4 is the thoroughly tested Stable Version. v3.5 is experimental at the time of this writing. Thanks!
COSMiC v3.4 for Windows thread:
And for Linux:
(Post remains for archival purposes: )
This is the first in a series of builds I will be posting here and on the Discord server that incorporate the latest updates to the various forks of the community open-source CUDA miner, plus my own optimizations and improvements (nickname: Hashburner builds). In addition to being as fast as possible, I'm trying to make these as reliable and user-friendly as possible, with quality documentation.
I am posting two archives of V1 today. The first is just the binaries(executables) for Windows X64, Mac OS X and Linux. I have only tested the Windows version- so please let me know your results! The second has the binaries, source code, a handy batch file and all the node modules you (should) need to make any changes you'd like and recompile. Both versions also have a 0xBTC.conf sample file I set up for my GTX1060-3GB as Device #0. Feel free to edit it or remove for the hardcoded intensity of 27. Same format as in Azlehria's builds, see Readme.txt.
Binaries Only (open with 7zip or similar):
Development Version (with binaries, source, node-modules, etc): (See the Readme.txt for details on how to build from source.)

Partial Changelog (See Readme.txt):

Please let me know your results along with your hardware configuration so that I can customize the next builds for as wide a range of hardware as possible! On my Pascal card (GTX1060-3GB w/ +122 MHz Core, -150 MHz VRAM), I am getting ~515 MH/s with this build.
Enjoy and Happy Hashing! - Lt. Tofu a.k.a. Mag517
p.s. How do you like the nickname for our community miner? Also, expect HB V1.1 in the next day or two.
submitted by LieutenantTofu to 0xbitcoin [link] [comments]

X11 Algorithm Explained

X11 Algorithm Explained

The X11 algorithm is a proof-of-work hashing function that was developed by Evan Duffield and implemented into the Darkcoin protocol in 2014, later renamed to DASH. X11 was developed and selected by Duffield as the algorithm of choice because of the inherent resistance that it had at the time to Application-Specific Integrated Circuits, or better known as, ASICs.
The notion by the Darkcoin development team was such that, a more complex proof-of-work algorithm would substantially increase the length of time for an ASIC capable of efficiently mining the X11 algorithm to be developed. In the meantime, hobbyists who could only mine with CPUs and GPUs would remain competitive when it came to producing blocks and securing a block reward.

How The X11 Algorithms Works

X11 works by combing 11 individual hash functions (hence the number 11 in X11) into one algorithm. When a value is submitted, the first function produces a hash which is then submitted to the following function to produce another hash. The X11 algorithm is comprised of the following hash functions:
To illustrate how the algorithm works at a high level, when a value is submitted to the BLAKE function, it produces a hash value; this value is then submitted to the BMW function, which then produces another value; this process repeats until the very last function.
All of the algorithms above were entered into the US National Institute of Standards and Technology (NIST) open competition in order to develop a new hash function, SHA-3, that was more secure than the previous generations: SHA-1 and SHA-2. Of the 64 algorithms that were entered into the competition, all the X11 hash functions were accepted as first-round candidates. Of the 14 second-round candidates, all the X11 algorithms were once again accepted, with the only following functions making it into the final 5: BLAKE, Grøstl, JH, Keccak and Skein. Keccak would then be the function to win the competition.
In short, the involvement of these functions in what was a 5-year long competition, speaks to their security and credibility.

Advantage & Disadvantage of The X11 Algorithm

One advantage of the X11 algorithm includes:
Arguably more secure than Bitcoin – Where SHA-256 is based on a previous secure hash algorithm family of standards, namely SHA-2, the hash functions within the X11 algorithm all successfully made it into the second-round in search for a new, more secure standard, i.e. SHA-3. Keccak, the function which won the competition and is therefore the new standard on which SHA-3 is based on, can at the very least be considered more secure that SHA-256.
Conversely, one current disadvantage of the X11 algorithm is:
No longer AISC-resistant – As previously mentioned, the X11 algorithm was designed to be ASIC-resistant due to its additional complexity. However, since its inception in 2014, ASICs capable of mining the X11 algorithm have been developed. The net result of this is, hobbyists with CPUs and GPUS are put at a competitive disadvantage with regards to producing new blocks and receiving a block reward for their efforts.


To conclude, X11 is an algorithm that contains 11 individual hash functions. It was formerly developed by Evan Duffield and implemented into the Darkcoin, now DASH, protocol.
It is arguably more secure than Bitcoin, due to the hash function used within it being based on the latest hash algorithm family of standards, SHA-3. However, its initial purpose of being ASIC-resistant has since failed as there are now ASICs capable of efficiently mining the algorithm.
Additional algorithms have been developed that include more than 11 individual hashing algorithms, these include: X13, X14, X15 and X17. The number of hash functions within the algorithm can be determined by the number that appears after the ‘X’. For example, in the algorithm X17, there will be 17 individual hash functions contained within it.
Additional information on X11 algorithm can be found in the DASH whitepaper.
More information on the SHA-3 competition can be found on the official NIST website.
submitted by nuka_mussinov to u/nuka_mussinov [link] [comments]

HANACOIN - An Introduction What is Hanacoin? Hanacoin is a digital currency that enables instant payments to anyone, anywhere in the world. Hanacoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Hanacoin is designed to be simple to use for mainstream adoption. The goal of Hanacoin is to allow people full control of their finances.
At Hanacoin we value Honesty, Commitment, Innovation, Prosperity and Fairness. • Our goal is to develop a coin that can: • Be used for instant transactions with minimal or no transaction fees, • Be adopted as the mainstream form of digital currency, • Integrate with existing tap and go payment systems, • Comply with and co-operate with regulators, • Use the best available technology.
We believe that the best technology to achieve these goals has yet to be developed and intend to contribute towards finding this technology. Hanacoin will be launched using the Lyra2REv2 algorithm which we have assessed to be the most suitable algorithm currently available that aligns with our goals. Lyra2REv2 allows almost anyone with a GPU the ability to mine Hanacoin and the algorithm is ASIC resistant. Hanacoin discourages the development of dedicated mining hardware and encourages the distribution of the verification task.
We are actively establishing a graduate program with local universities to seek out the brightest upcoming cryptocurrency developers. It will be tasked with the challenge to maintain the edge on ASIC mining, explore transaction speeds, lower costs and increase security whilst maintaining the ability to easily integrate with third party technologies such as payment gateways.
The main difference between Hanacoin and Bitcoin is our ability to resist centralized mining. Hanacoin has the flexibility to quickly adapt to the best technology available without the need for consensus from competing groups with their own motives.
Hanacoin is not a privacy coin and will comply with all Regulations and be a transparent coin with public ledgers. Privacy and anonymity oriented coins are becoming a pervasive and often contentious topic. As a result, many figures in the media and government have cast a distrustful eye on such protocols fearing a new medium for illicit and illegal activity. It is our belief Privacy coins will come under increased government scrutiny in the coming years.
Hanacoin for Charity Hanacoin recognises our responsibility to give back to the community. Donating to charity reinforces our commitment that Hanacoin will have a positive social impact. We will donante Hanacoins to charity each year.
Key Points * Constantly adapting to the latest technology * Comply with all Korean Regulations * No ICO * Minable at home * ASIC resistant * Not a Privacy Coin * Hanacoin developers have full control of Hanacoin
What is the Aim of Hanacoin? We are currently in the distribution phase of Hanacoin and are inviting minders to begin mining the coin. We aim for Hanacoin to be a slow and stable p generated to hire additional engineers and specialist to make sure that Hanacoin can be traded as cheaply and quickly as possible. We plan to be listed on Korea's top exchanges within two years.
ROADMAP 2018 - 2019 • Secure Hanacoin network by encouraging users to mine and establish their wallets. • Upgrade and maintain Hanacoin code base. • Develop and release Hanacoin wallet for web and mobile. • Improve and maintain Hanapool. • Establish graduate program at local universities. • Engage advisors to evoke marketing strategy including sponsorship arrangements. • Launch social media campaign with key influencers. • Establish donation agreement with a charity organisation. • Investigate mining pool options with the ability to split payments to charity and miner. • Review community feedback and respond with adjustments accordingly. • Engage advisors throughout the year to ensure marketing strategy is adjusted as needed. • Discuss exchange launch date with popular exchanges.
2019 - 2020 • Increase marketing to targeted areas and expand to include additional regions. • Increase sponsorship arrangements. • Deliver on the commitment to the charity organisation. • Review ASIC mining and the likelihood of ASIC mining on Lyra2REv2 and respond accordingly. • Review graduate program developments and implement suitable changes. • Increase exchange listings. • Engage with Tap & Go Payment system providers such as Korea Pay Services (KPS). • Engage with local regulators to ensure the continued success of cryptocurrency. • Review community feedback and respond with adjustments. • Engage advisors throughout the year to ensure marketing strategy is adjusted as needed. • Obtain a listing on main Korean exchange.
2021+ • Increase marketing and sponsorship arrangements. • Deliver on the commitment to the charity organisation. • Review ASIC mining and the likelihood of ASIC mining on Lyra2REv2 and respond accordingly. • Gain mainstream adoption as a payment system in Korea and expand payment system globally. • Review graduate program developments and implement suitable changes. • Continue relationship with local regulators to ensure the continued success of cryptocurrency. • Review community feedback and respond with adjustments. • Continual engagement with advisors throughout the year to ensure marketing strategy is adjusted as needed. • Support for Ledger Nano and Trezor.
Coin Details * Lyra2REv2 algorithm * 1.5 minute block targets * subsidy halves in 1,225,000 blocks (~3 years) * 50 coins per block * DigiShield difficulty algorithm * 100,000,000 coins available for mining * 20,000,000 founder pre-mined coins * 2,500,000 pre-mined coins allocated to network growth and maintenance, marketing and exchanges. * 122,500,000 Total Coins * Ticker symbol HANA
Lyra2REv2 Algorithm With the rise of ASIC(Application Specific Integrated Circuit) mining, standard mining equipment can no longer compete with specially designed ASIC miners. Lyra2REv2 is designed to defend miners from this unfair competition. The algorithm is designed to be strictly sequential which allows a defence Scrypt-Adaptive-N Capable ASICs. Lyra2REv2 algorithm favours GPUs over CPUs. Lyra2REv2 consists of a series of hash functions: BLAKE, Keccak, CubeHash, Lyra2, Skein and Blue Midnight Wish. Using Lyra2 enables us to adjust the memory usage for mining along with adjusting a time cost, which allows us to stay ahead of development of ASIC. Support the Hanacoin project and earn Hanacoin by mining.
Dark Gravity Wave Dark Gravity Wave (DGW) is an open source difficulty adjusting algorithm for Bitcoin-based cryptocurrencies. Evan Duffield authored DGW as a response to a time-warp exploit found in Kimoto's Gravity Well. In concept, DGW is similar to Kimoto Gravity Well, adjusting the difficulty levels every block (instead of every 2016 blocks like Bitcoin) by using statistical data of the last blocks found. This allows block issuing times to remain consistent despite high fluctuations in hash power, however, it doesn't suffer from the time-warp exploit. Version 3.0 was implemented on May 14 of 2014 to further improve difficulty re-targeting with smoother transitions. It also fixes issues with various architectures that had different levels of floating-point accuracy through the use of integers.
submitted by HanaCoin to u/HanaCoin [link] [comments]

IMineBlocks - YouTube Mining Bitcoin Gold - AMD Ready? BuriedONE - YouTube TONE VAYS COINMARKETCAP ANALYSIS 2017 MaxCoin - Crypto Currency For The Masses

Maxcoin (MAX) is a cryptocurrency . Users are able to generate MAX through the process of mining. Maxcoin has a current supply of 61,445,805. The last known price of Maxcoin is 0.0182637 USD and is up 0.00 over the last 24 hours. SHA-3 (Secure Hash Algorithm Version 3), also called Keccak, is a unidirectional function for generating digital prints of the selected length (the standard accepts 224, 256, 384 or 512 bits) from input data of any size, developed by a group of authors led by Yoan Dimen in 2008 and adopted in 2015 as the new FIPS standard.The algorithm works by means of the mixing function with compression to ... SHA-3 (Secure Hash Algorithm 3) / Keccak is the latest in the National Institute of Standards and Technology series of Cryptographic Hash Functions.. This particular algorithm was developed after theoretical weaknesses were found in the SHA-1 algorithm, so that there would be a credible ready-to-use replacement for the SHA-2 algorithm if it became compromised. Online Converter for Keccak-256 Decode 2020. Keccak-256 Online . SHA512/256 · SHA3-224 · SHA3-256 · SHA3-384 · SHA3-512 · Keccak-224 · Keccak-256 · Keccak-384 · Keccak-512 · Shake-128 · Shake-256. why was padding changed when keccak became sha3? 1. SHA3-512 troubleshooting - is there a worked example for hashing the “zero-length string”? Hot Network Questions How do progressive US political thinkers explain anti-black police discrimination in cities where the population and government are majority black? Si energy band values are not matching with literature values Why are the time ...

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IMineBlocks - YouTube

AMD Crypto Mining is almost here. The lolminer is operational but has a few issues mining the new bitcoin gold algorithm 144_5. You should be able to mine bitcoin gold with your amd rigs but the ... Adventures In Crypto & Blockchain Technology Videos about cryptocoins, crypto mining and other technology that I find interesting. Buy anything on Amazon US ... Tone Vays 2017 CoinMarketCap Analysis :-) Microsoft excel training How to make negative numbers red with conditional formatting (2) - Duration: 4:08. rahmat maulana Recommended for you Although it was not the winner of the SHA-3 competition, Blake-256 has features that make for use in crypto currencies Keccak and the other candidates is more appropriate. Please refer to the ... Learning people how to mine Bitcoin with the use of Gaming Graphics cards in a professional way. By mining Crypto Currencies like Ethereum, ZCash, Monero and...