Bitcoin Unlimited Definition - Investopedia

Wikipedia page on communication protocols has list of examples that mentions Ripple (XRP) as its example for a payment protocol, but not Bitcoin (BTC), even though BTC is the first and largest cryptographic payment protocol. Why?

Here is a link to the Wikipedia article: https://simple.wikipedia.org/wiki/Communication_protocol
Shouldn't this be fixed to have Bitcoin on the list instead of Ripple? It seems like a biased Wikipedia entry made by a Ripple supporteinvestor. It would be like putting Jack in the Box as an example of a fast food restaurant on a list of restaurant types instead of McDonalds.
submitted by Raster_Eyes to CryptoCurrency [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

d down, k up, everybody's a game theorist, titcoin, build wiki on Cardano, (e-)voting, competitive marketing analysis, Goguen product update, Alexa likes Charles, David hates all, Adam in and bros in arms with the scientific counterparts of the major cryptocurrency groups, the latest AMA for all!

Decreasing d parameter
Just signed the latest change management document, I was the last in the chain so I signed it today for changing the d parameter from 0.52 to 0.5. That means we are just about to cross the threshold here in a little bit for d to fall below 0.5 which means more than half of all the blocks will be made by the community and not the OBFT nodes. That's a major milestone and at this current rate of velocity it looks like d will decrement to zero around March so lots to do, lots to talk about. Product update, two days from now, we'll go ahead and talk about that but it crossed my desk today and I was really happy and excited about that and it seemed like yesterday that d was equal to one and people were complaining that we delayed it by an epoch and now we're almost at 50 percent. For those of you who want parameter-level changes, k-level changes, they are coming and there's an enormous internal conversation about it and we've written up a powerpoint presentation and a philosophy document about why things were designed the way that they're designed.
Increasing k parameter and upcoming security video and everybody's a game theorist
My chief scientist has put an enormous amount of time into this. Aggelos is very passionate about this particular topic and what I'm going to do is similar to the security video that I did where I did an hour and a half discussion about a best practice for security. I'm going to actually do a screencasted video where I talk about this philosophy document and I'm going to read the entire document with annotations with you guys and kind of talk through it. It might end up being quite a long video. It could be several hours long but I think it's really important to talk around the design philosophy of this. It's kind of funny, everybody, when they see a cryptographic paper or math paper, they tend to just say okay you guys figure that out. No one's an expert in cryptography or math and you don't really get strong opinions about it but game theory despite the fact that the topics as complex and in some cases more complex you tend to get a lot of opinions and everybody's a game theorist. So, there was enormous amount of thought that went into the design of the system, the parameters of system, everything from the reward functions to other things and it's very important that we explain that thought process in as detailed of a way as possible. At least the philosophy behind it then I feel that the community is in a really good position to start working on the change management. It is my position that I'd love to see k largely increased. I do think that the software needs some improvements to get there especially partial delegation delegation portfolios and some enhancements into the operation of staking especially.
E-voting
I'd love to see the existence of hybrid wallets where you have a cold part a hot part and we've had a lot of conversations about that and we will present some of the progress in that matter at the product updates. If not this October certainly in November. A lot of commercialization going along, a lot of things going on and flowing around and you know, commercial teams working hard. As I mentioned we have a lot of deals in the pipeline. The Wyoming event was half political, half sales. We were really looking into e-voting and we had very productive conversations along those lines. It is my goal that Cardano e-voting software is used in political primaries and my hope is for eventually to be used in municipal and state and eventually federal elections and then in national elections for countries like Ethiopia, Mongolia and other places. Now there is a long road, long, long road to get there and many little victories that have to begin but this event. Wyoming was kind of the opener into that conversation there were seven independent parties at the independent national convention and we had a chance to talk to the leadership of many of them. We will also engage in conversation with the libertarian party leadership as well and at the very least we could talk about e-voting and also blockchain-based voting for primaries that would be great start and we'll also look into the state of Wyoming for that as well. We'll you know, tell you guys about that in time. We've already gotten a lot of inquiries about e-voting software. We tend to get them along with the (Atala) Prism inquiries. It's actually quite easy to start conversations but there are a lot of security properties that are very important like end-to-end verifiability hybrid ballots where you have both a digital and a paper ballot delegation mechanics as well as privacy mechanics that are interesting on a case-by-case basis.
Goguen, voting, future fund3, competitive marketing analysis of Ouroboros vs. EOS, Tezos, Algorand, ETH2 and Polkadot, new creative director
We'll keep chipping away at that, a lot of Goguen stuff to talk about but I'm going to reserve all of that for two days from now for the product update. We're right in the middle, Goguen metadata was the very first part of it. We already have some commercialization platform as a result of metadata, more to come and then obviously lots of smart contract stuff to come. This update and the November update are going to be very Goguen focused and also a lot of alternatives as well. We're still on schedule for an HFC event in I think November or December. I can't remember but that's going to be carrying a lot of things related multisig token locking. There's some ledger rule changes so it has to be an HFC event and that opens up a lot of the windows for Goguen foundations as well as voting on chain so fund3 will benefit very heavily from that. We're right in the guts of Daedalus right now building the voting center, the identity center, QR-code work. All this stuff, it's a lot of stuff, you know, the cell phone app was released last week. Kind of an early beta, it'll go through a lot of rapid iterations every few weeks. We'll update it, google play is a great foundation to launch things on because it's so easy to push updates to people automatically so you can rapidly iterate and be very agile in that framework and you know we've already had 3500 people involved heavily in the innovation management platform ideascale and we've got numerous bids from everything. From John Buck and the sociocracy movement to others. A lot of people want to help us improve that and we're going to see steady and systematic growth there. We're still chipping away at product marketing. Liza (Horowitz) is doing a good job, meet with her two three-times a week and right now it's Ouroboros, Ouroboros, Ouroboros... We're doing competitive analysis of Ouroboros versus EOS, Tezos, Algorand, ETH2 and Polkadot. We think that's a good set. We think we have a really good way of explaining it. David (David Likes Crypto now at IOHK) has already made some great content. We're going to release that soon alongside some other content and we'll keep chipping away at that.
We also just hired a creative director for IO Global. His name's Adam, incredibly experienced creative director, he's worked for Mercedes-Benz and dozens of other companies. He does very good work and he's been doing this for well over 20 years and so the very first set of things he's going to do is work with commercial and marketing on product marketing. In addition to building great content where hope is make that content as pretty as possible and we have Rod heavily involved in that as well to talk about distribution channels and see if we can amplify the distribution message and really get a lot of stuff done. Last thing to mention, oh yeah, iOS for catalyst. We're working on that, we submitted it to the apple store, the iOS store, but it takes a little longer to get approval for that than it does with google play but that's been submitted and it's whenever apple approves it or not. Takes a little longer for cryptocurrency stuff.
Wiki shizzle and battle for crypto, make crypto articles on wiki great again, Alexa knows Charles, Everpedia meets Charles podcast, holy-grail land of Cardano, wiki on Cardano, titcoin
Wikipedia... kind of rattled the cage a little bit. Through an intermediary we got contact with Jimmy Wales. Larry Sanger, the other co-founder also reached out to me and the everpedia guys reached out to me. Here's where we stand, we have an article, it has solidified, it's currently labeled as unreliable and you should not believe the things that are said in it which is David Gerard's work if you look at the edits. We will work with the community and try to get that article to a fair and balanced representation of Cardano and especially after the product marketing comes through. We clearly explain the product I think the Cardano article can be massively strengthened. I've told Rod to work with some specialized people to try to get that done but we are going to work very hard at a systematic approval campaign for all of the scientific articles related to blockchain technology in the cryptocurrency space. They're just terrible, if you go to the proof of work article, the proof of stake or all these things, they're just terrible. They're not well written, they're out of date and they don't reflect an adequate sampling of the science. I did talk to my chief scientist Aggelos and what we're gonna do is reach out to the scientific counterparts that most of the major cryptocurrency groups that are doing research and see if they want to work with us at an industry-wide effort to systematically improve the scientific articles in our industry so that there are a fair and balanced representation of what the current state of the art are, the criticisms, the trade-offs as well as the reference space and of course obviously we'll do quite well in that respect because we've done the science. We're the inheritor of it but it's a shame because when people search proof of stake on google usually wikipedia results are highly biased. We care about wikipedia because google cares about wikipedia, amazon cares about wikipedia.
If you ask Alexa who is Charles Hoskinson, the reason why Alexa knows is because it's reading directly from the wikipedia page. If I didn't have a wikipedia page Alexa would know that so if somebody says Alexa what is Cardano it's going to read directly from the wikipedia page and you know and we can either just pretend that reality doesn't exist or we can accept it and we as a community working with partners in the broader cryptocurrency community can universally improve the quality of cryptocurrency pages. There's been a pattern of commercial censorship on wikipedia for cryptocurrencies in general since bitcoin itself. In fact I think the bitcoin article is actually taken down once back in, might have been, 2010 or 2009 but basically wikipedia has not been a friend of cryptocurrencies. That's why everpedia exists and actually their founders reached out to me and I talked to them over twitter through PMs and we agreed to actually do a podcast. I'm going to do a streamyard, stream with these guys and they'll come on talk all about everpedia and what they do and how they are and we'll kind of go through the challenges that they've encountered. How their platform works and so forth and obviously if they want to ever leave that terrible ecosystem EOS and come to the holy-grail land of Cardano we'd be there to help them out. At least they can tell the world how amazing their product is and also the challenges they're having to overcome. We've also been in great contact with Larry Sanger.
He's going to do an internal seminar at some point with with us and talk about some protocols he's been developing since he left wikipedia specifically to decentralize knowledge management and have a truly decentralized encyclopedia. I'm really looking forward to that and I hope that presentation gives us some inspiration as an ecosystem of things we can do. That's a great piece of infrastructure regardless and after we learn a lot more about it and we talk to a lot of people in ecosystem. If we can't get people to move on over, it would be really good to see through ideascale in the innovation management platform for people to utilize the dc fund to build their own variant of wikipedia on Cardano. In the coming months there will certainly be funding available. If you guys are so passionate about this particular problem that you want to go solve it then I'd be happy to play Elon Musk with the hyperloop and write a white paper on a protocol design and really give a good first start and then you guys can go and try to commercialize that technology as Cardano native assets and Plutus smart contracts in addition to other pieces of technology that have to be brought in to make it practical.
Right now we're just, let's talk to everybody phase, and we'll talk to the everpedia guys, we're going to talk to Larry and we're going to see whoever else is in this game and of course we have to accept the incumbency as it is. So, we're working with obviously the wikipedia side to improve the quality of not only our article but all of the articles and the scientific side of things so that there's a fair and accurate representation of information. One of the reasons why I'm so concerned about this is that I am very worried that Cardano projects will get commercially censored like we were commercially censored. So, yes we do have a page but it took five years to get there and we're a multi-billion dollar project with hundreds of thousands of people. If you guys are doing cutting-edge novel interesting stuff I don't want your experience to be the same as ours where you have to wait five years for your project to get a page even after government's adopted. That's absurd, no one should be censored ever. This is very well a fight for the entire ecosystem, the entire community, not just Cardano but all cryptocurrencies: bitcoin, ethereum and Cardano have all faced commercial censorship and article deletions during their tenure so I don't want you guys to go through that. I'm hoping we can prove that situation but you know you don't put all your eggs in one basket and frankly the time has come for wikipedia to be fully decentralized and liberated from a centralized organization and massively variable quality in the editor base. If legends of valor has a page but Cardano didn't have one until recently titcoin, a pornography coin from 2015, that's deprecated, no one uses it, has a page but Cardano couldn't get one there's something seriously wrong with the quality control mechanism and we need to improve that so it'll get done.
submitted by stake_pool to cardano [link] [comments]

Zano Newcomers Introduction/FAQ - please read!

Welcome to the Zano Sticky Introduction/FAQ!

https://preview.redd.it/al1gy9t9v9q51.png?width=424&format=png&auto=webp&s=b29a60402d30576a4fd95f592b392fae202026ca
Hopefully any questions you have will be answered by the resources below, but if you have additional questions feel free to ask them in the comments. If you're quite technically-minded, the Zano whitepaper gives a thorough overview of Zano's design and its main features.
So, what is Zano? In brief, Zano is a project started by the original developers of CryptoNote. Coins with market caps totalling well over a billion dollars (Monero, Haven, Loki and countless others) run upon the codebase they created. Zano is a continuation of their efforts to create the "perfect money", and brings a wealth of enhancements to their original CryptoNote code.
Development happens at a lightning pace, as the Github activity shows, but Zano is still very much a work-in-progress. Let's cut right to it:
Here's why you should pay attention to Zano over the next 12-18 months. Quoting from a recent update:
Anton Sokolov has recently joined the Zano team. ... For the last months Anton has been working on theoretical work dedicated to log-size ring signatures. These signatures theoretically allows for a logarithmic relationship between the number of decoys and the size/performance of transactions. This means that we can set mixins at a level from up to 1000, keeping the reasonable size and processing speed of transactions. This will take Zano’s privacy to a whole new level, and we believe this technology will turn out to be groundbreaking!
If successful, this scheme will make Zano the most private, powerful and performant CryptoNote implementation on the planet. Bar none. A quantum leap in privacy with a minimal increase in resource usage. And if there's one team capable of pulling it off, it's this one.

What else makes Zano special?

You mean aside from having "the Godfather of CryptoNote" as the project lead? ;) Actually, the calibre of the developers/researchers at Zano probably is the project's single greatest strength. Drawing on years of experience, they've made careful design choices, optimizing performance with an asynchronous core architecture, and flexibility and extensibility with a modular code structure. This means that the developers are able to build and iterate fast, refining features and adding new ones at a rate that makes bigger and better-funded teams look sluggish at best.
Zano also has some unique features that set it apart from similar projects:
Privacy Firstly, if you're familiar with CryptoNote you won't be surprised that Zano transactions are private. The perfect money is fungible, and therefore must be untraceable. Bitcoin, for the most part, does little to hide your transaction data from unscrupulous observers. With Zano, privacy is the default.
The untraceability and unlinkability of Zano transactions come from its use of ring signatures and stealth addresses. What this means is that no outside observer is able to tell if two transactions were sent to the same address, and for each transaction there is a set of possible senders that make it impossible to determine who the real sender is.
Hybrid PoW-PoS consensus mechanism Zano achieves an optimal level of security by utilizing both Proof of Work and Proof of Stake for consensus. By combining the two systems, it mitigates their individual vulnerabilities (see 51% attack and "nothing at stake" problem). For an attack on Zano to have even a remote chance of success the attacker would have to obtain not only a majority of hashing power, but also a majority of the coins involved in staking. The system and its design considerations are discussed at length in the whitepaper.
Aliases Here's a stealth address: ZxDdULdxC7NRFYhCGdxkcTZoEGQoqvbZqcDHj5a7Gad8Y8wZKAGZZmVCUf9AvSPNMK68L8r8JfAfxP4z1GcFQVCS2Jb9wVzoe. I have a hard enough time remembering my phone number. Fortunately, Zano has an alias system that lets you register an address to a human-readable name. (@orsonj if you want to anonymously buy me a coffee)
Multisig
Multisignature (multisig) refers to requiring multiple keys to authorize a Zano transaction. It has a number of applications, such as dividing up responsibility for a single Zano wallet among multiple parties, or creating backups where loss of a single seed doesn't lead to loss of the wallet.
Multisig and escrow are key components of the planned Decentralized Marketplace (see below), so consideration was given to each of them from the design stages. Thus Zano's multisig, rather than being tagged on at the wallet-level as an afterthought, is part of its its core architecture being incorporated at the protocol level. This base-layer integration means months won't be spent in the future on complicated refactoring efforts in order to integrate multisig into a codebase that wasn't designed for it. Plus, it makes it far easier for third-party developers to include multisig (implemented correctly) in any Zano wallets and applications they create in the future.
(Double Deposit MAD) Escrow
With Zano's escrow service you can create fully customizable p2p contracts that are designed to, once signed by participants, enforce adherence to their conditions in such a way that no trusted third-party escrow agent is required.
https://preview.redd.it/jp4oghyhv9q51.png?width=1762&format=png&auto=webp&s=12a1e76f76f902ed328886283050e416db3838a5
The Particl project, aside from a couple of minor differences, uses an escrow scheme that works the same way, so I've borrowed the term they coined ("Double Deposit MAD Escrow") as I think it describes the scheme perfectly. The system requires participants to make additional deposits, which they will forfeit if there is any attempt to act in a way that breaches the terms of the contract. Full details can be found in the Escrow section of the whitepaper.
The usefulness of multisig and the escrow system may not seem obvious at first, but as mentioned before they'll form the backbone of Zano's Decentralized Marketplace service (described in the next section).

What does the future hold for Zano?

The planned upgrade to Zano's privacy, mentioned at the start, is obviously one of the most exciting things the team is working on, but it's not the only thing.
Zano Roadmap
Decentralized Marketplace
From the beginning, the Zano team's goal has been to create the perfect money. And money can't just be some vehicle for speculative investment, money must be used. To that end, the team have created a set of tools to make it as simple as possible for Zano to be integrated into eCommerce platforms. Zano's API’s and plugins are easy to use, allowing even those with very little coding experience to use them in their E-commerce-related ventures. The culmination of this effort will be a full Decentralized Anonymous Marketplace built on top of the Zano blockchain. Rather than being accessed via the wallet, it will act more as a service - Marketplace as a Service (MAAS) - for anyone who wishes to use it. The inclusion of a simple "snippet" of code into a website is all that's needed to become part a global decentralized, trustless and private E-commerce network.
Atomic Swaps
Just as Zano's marketplace will allow you to transact without needing to trust your counterparty, atomic swaps will let you to easily convert between Zano and other cyryptocurrencies without having to trust a third-party service such as a centralized exchange. On top of that, it will also lead to the way to Zano's inclusion in the many decentralized exchange (DEX) services that have emerged in recent years.

Where can I buy Zano?

Zano's currently listed on the following exchanges:
https://coinmarketcap.com/currencies/zano/markets/
It goes without saying, neither I nor the Zano team work for any of the exchanges or can vouch for their reliability. Use at your own risk and never leave coins on a centralized exchange for longer than necessary. Your keys, your coins!
If you have any old graphics cards lying around(both AMD & NVIDIA), then Zano is also mineable through its unique ProgPowZ algorithm. Here's a guide on how to get started.
Once you have some Zano, you can safely store it in one of the desktop or mobile wallets (available for all major platforms).

How can I support Zano?

Zano has no marketing department, which is why this post has been written by some guy and not the "Chief Growth Engineer @ Zano Enterprises". The hard part is already done: there's a team of world class developers and researchers gathered here. But, at least at the current prices, the team's funds are enough to cover the cost of development and little more. So the job of publicizing the project falls to the community. If you have any experience in community building/growth hacking at another cryptocurrency or open source project, or if you're a Zano holder who would like to ensure the project's long-term success by helping to spread the word, then send me a pm. We need to get organized.
Researchers and developers are also very welcome. Working at the cutting edge of mathematics and cryptography means Zano provides challenging and rewarding work for anyone in those fields. Please contact the project's Community Manager u/Jed_T if you're interested in joining the team.
Social Links:
Twitter
Discord Server
Telegram Group
Medium blog
I'll do my best to keep this post accurate and up to date. Message me please with any suggested improvements and leave any questions you have below.
Welcome to the Zano community and the new decentralized private economy!
submitted by OrsonJ to Zano [link] [comments]

How YFI came out of nowhere to become the fastest coin to reach $1B and the fastest coin to ever get listed on Coinbase

Note: As mentioned to the original 624 Reddit subscribers, there will be $YFI based Exclusive Original Content released here by myself and others from time to time. These kinds of interactive Deep Dives with a Q&A with fellow Investors / Beta Testers right afterwards is a rare thing in Crypto, and will only be found with this level of immediacy, social interaction, permanence, depth, and complexity of analysis and feedback on a platform like Reddit.

A lot of projects have low innovation, just copying something that someone else has already done, but with small tweaks to things like variables in Smart Contracts. A few rare projects have genuine innovation, providing genuine value to investors and users by providing attractive new products that simplify a lot of things in this space.
Even rarer are the Unicorns that not only have innovation, but they have innovation in spades, oozing out of every pore. $YFI is one of these types of Unicorns. The scope of products and rapidity of release of new revolutionary products of this project has been simply unmatched in the short history of Crypto.
Since 2009, the world of crypto has never seen anything like this lightning fast pace of development spanning such a wide scope of products - optimized automated yield farming and lending that relentlessly hunts the best yields, crypto insurance on Smart Contracts, a revolutionary Stablecoin idea that essentially makes a USD altcoin "smart" with built-in yield farming capabilities for the first time, to name a few - all built by a genius Smart Contract Builder who provided the world the first Fair Launch token.
Key to wrapping your head around the advantages that the yEarn Finance ecosystem has over - well, every single other option out there at this time - are the concepts below:

  1. CeFi vs. DeFi
  2. Composability
  3. Smart Contract Stacking
  4. The power of a Talented and Diverse DAO

To discuss these concepts, and to educate beginners, we have to understand what the terms above truly mean. This post doesn't discuss any particular products and their advantages, only the systemic advantages that are available only to $YFI. This project seems to attract the smartest and the highest risk taking of crypto investors, and an important thing in truly understanding all of the risks involved, is that you have to know the terms and concepts first. Even veteran crypto and DeFi users may be thrown for a loop by some of the innovative products and concepts that keep coming out of the YFI Labs.
This project is going through an expansion phase, where the scope of everything and the reach of the various released products is increasing (Insurance, A truly pegged Stablecoin, yETH Version 2, ySwap, yLiquidate, etc, etc..)
You know that there's some motherforker or twenty that is now just avidly waiting for every piece of code that Andre drops onto GitHub, so that they can be among the first to copy it verbatim then claim it as "their own variation" because they changed some variables and titles. Yawn.
From the definitive glossary for the DeFi space - yet another $YFI innovation - I'll list their definitions below. These may not be their final definitions when I finish any V1.1 edits to it, but they're good enough for now, and at least 3 or more YFI Dev Team members have read, reviewed, or edited these definitions. I've also invited my fellow Beta testers to provide comments to my RFC on this subreddit and in the Governance forum (among the documentation volunteers).
Yes, this is how early DeFi investors are in the development and maturation of the DeFi space. Anyone reading this right now is so early into DeFi's evolution that the terms used for this space are literally still being finalized by the community.
I've given a little bit of a sneak peek into how technical documentation is somehow self-organized in a powerful DAO such as this one. In this example, it starts off with a call for help on Twitter to improve our documentation by tracheopteryx. Interested and qualified volunteers show up (or don't) when such a call is made.
Your writers and editors have spent many a moment pondering off into space debating whether this term really means this or that, or if the term was either succinctly described, or fully sufficient. It's a usually thankless and anonymous job, that is critical in providing enough relevant information to its users and investors. [Note: Just like anything you see related to the $YFI project: You can help us improve this documentation - any of it - if you see errors or better ways of describing this information.]
All terms are shamelessly plagiarized from myself and my fellow writeeditors - u/tracheopteryx and Franklin - from the draft definitions in our new DeFi glossary: https://docs.yearn.finance/defi-glossary

1. CeFi vs. DeFi
CeFi - Centralized Finance. In terms of cryptocurrency, CeFi is represented by centralized cryptocurrency exchanges, businesses or organizations with a physical address, and usually with some sort of corporate structure. These CeFi businesses must follow all applicable laws, rules, and regulations in each country, state, or region in which they operate.
DeFi - DeFi, or Decentralized Finance, is at its root a set of Smart Contracts running independently on blockchains such as the Ethereum network. Smart Contracts may or may not interact with other smart contracts and even other blockchains.
The goal of DeFi is to enhance profitability of investors in DeFi through automated smart contracts seeking to maximize yields for invested funds. DeFi is marked by rapid innovative progression and testing of new ideas and concepts.
DeFi often involves high risk investing sometimes involving smart contracts that have not been audited or even thoroughly reviewed (a review is not as comprehensive as an audit, but may be also be included as part of an audit). Due to this and other reasons, DeFi is conventionally considered to be more risky than CeFi or traditional investing.
Comment: DeFi is higher risk, partly because it moves so fast. A lot of yams, hot dogs, and sushi can get lost when you move so fast that you can't even bother to do a thorough audit before releasing code. The cream of the crop projects will all have had multiple audits done by multiple independent auditors. Auditors are expensive. At such an embryonic stage, most projects can't afford to have one audit done let alone 5.
But if you can live with that higher risk intrinsic in DeFi and be willing to be a part of "testing in prod," then financial innovation can truly blossom. And if you let your best and brightest members of your community focus only on doing what they do best, then they don't have to bother to try to grow a business like a Bezos, Musk, or a Zuckerberg. Innovative entrepreneurs in this mold such as Andre, don't have to even try to do this business growth on their own because the DAO sets it up so that they don't have to do this. The DAO both grows the business while supporting and allowing these innovators to simply innovate, instead of trying to get nerds to do backroom deals to gain market share and access to new customers. It turns out that nerds are much more productive when you just let them be a nerd in their labs.

  1. Composability
Composability - The measure of the usability and ability of a product to be used as a building block (or "money lego") in the construction of other products or domains. A protocol that is simple, powerful, and that functions well with other protocols would be considered to have high composability.
Comment: The maturity of the cryptocurrency ecosystem and the evolution of composable building tools in the DeFi space now make new products and concepts available. $YFI would not have been possible only 2 or 3 years ago; the tools and ecosystem simply weren't ready for it yet.
This is why only now are you and many other now hearing about YFI. In 2018, Andre began providing free code reviews to Crypto Briefing. Andre had to learn to walk before he could run, and the composable tools needed to work on embryonic ideas in his head were simply not ready or available then. By reading and reviewing so many Smart Contracts he learned to recognize good code from bad code at what was still a very early stage in Smart Contract development in 2018, only 3 years after ETH's launch in July 2015.

  1. Smart Contract Stacking
Smart Contracts - A digital contract that is programmed in a language that is considered Turing complete, meaning that with enough processing power and time, a properly programmed Smart Contract should be able to use its code base and logical algorithms to perform almost any digital task or process. Ethereum's programming languages, such as Solidity and Vyper, are Turing complete.
Comment: Smart Contracts have actually gotten smarter since ETH launched in July 2015. It's because Smart Contract builders needed to learn Solidity and how it functions and interoperates before they could spread their wings as designers. With more time and experience under their belts, the early SC builders that stuck to it have gotten much better.
In Andre Cronje, we may have been witness to the rise of the next Satoshi or Vitalik of crypto. There is a reason that a couple of days ago, I counted 6 of 41 YF clones - nearly 15% - among the top gainers on the day. Success breeds copycats showing a ton of flattery. A smart contract is so smart, it can be used to be stacked upon other smart contracts such as at Aave or Maker.
True innovation takes time, sacrifice, blood, sweat, and tears. It does not come without cost to those doing the innovating.
There is not a single project in DeFi, CeFi, or even all of cryptocurrency that can claim the breadth and diversity of innovation and product reach that is found in the $YFI ecosystem. As a tech investor and professional nerd who's been involved at Research Labs and around product development and testing since before the year 2000. Prior to that I've ready widely and keenly to keep up with technological changes and assess investment potential in these disruptive changes nearly my whole life.
The amount of innovation shown in this project is breathtaking if you're a Tech or FinTech researcher. It's being released at a ridiculously rapid pace that is simply unmatched in any private or government research lab anywhere, let alone at any CeFi or traditional financial institution one can name. The only comparable levels of innovation shown by this young project is typically only seen during periods of epochal changes such as The Renaissance or times of strife and war, such as World War II.
Unless you've been in the industry and working with coders: I don't think those that haven't been around software development and testing can understand, can truly grasp that no one, no group does this. This isn't normal. This rapid-fire release of truly innovative code and intelligent strategies would have to be comparable to some of the greatest creative periods of human ingenuity and creativity. It's truly on par with periods of brilliance seen by thinkers like Newton, Einstein and Tesla, except with software code and concepts in decentralized finance. When the history of FinTech writes this chapter in its history, $YFI may need its own section or chapter.
Don't forget all of these financial instruments we take for granted all around us, all had a simple start somewhere, whether it was an IOU system of credit, insurance, stocks, bonds, derivatives, futures, options, and so on...they all started off as an idea somewhere that had to get tested sooner or later "in production."
One brilliant aspect of $YFI Smart Contracts is that they're built as a profitable layer atop existing DeFi protocols, extracting further value from base crypto assets and even primary crypto derivatives. $YFI is built atop existing smart contracts to create further value where there was none before, and help maximize gains for long term investors.

  1. The Power of a Talented and Diverse DAO
DAO - Distributed Autonomous Organization. The first DAO was started in 2016. According to Wikipedia's definition, it is an: "organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain."
When implemented well, a DAO allows for real world experiments in decentralized democratic organization and control, with more freedom of action and less regulatory oversight for DAO controlled projects and products when compared to legacy corporate structures and organizations.
Comment: yEarn Finance has shown us what a properly motivated and sufficiently powerful DAO can do in a short amount of time.
There's many reasons why this project with an already profitable business model is the fastest original project in history to ever reach a $1B marketcap in any market - traditional or crypto - accomplishing this amazing feat in less than two months. There's reasons why this is probably the fastest coin in history to get listed on Coinbase in less than 2 months.
The power of a sufficiently talented and diverse development team and community is stunning in its power, speed, and ability to get things done quickly. There are risks aplenty with parts of this project, but $YFI is now seen as a "safe" place in DeFi, because you know you that as far as yield farming you probably couldn't do it better yourself unless you took a chance on unaudited code with anonymous Devs, or you were doing the trading equivalent of throwing darts blindfolded and somehow won, except that you even more improbably kept doing that over and over and winning.

Summary: There's reasons why YFI has been called the Bitcoin of DeFi and the Berkshire Hathaway Series A of crypto. I've listed some of the reasons above. The confluence of these 4 factors has helped lead to explosive growth for this project.
This isn't financial advice as I'm not a financial pro but make no mistake: as a Crypto OG around crypto since early 2013, who was deeply involved in multiple community projects as an early organizer, and who was a small investor during the DotCom era investing in early giants that went on to be gorillas, I don't say this lightly that the $YFI project is lightning in a bottle and a diamond in the rough.
What $YFI allows, when all is said and done, is the rapid fire implementation of great ideas that have gone through a rapid Darwinian evolution, where only the best ideas are implemented. Thoughts and ideas are powerful things. The valuation of this coin and ecosystem has to, it must take into account that this nascent financial innovation hub and ecosystem actually works and allows the best of these ideas to actually blossom rapidly.
You just don't find too many gems like this.
submitted by CryptoOGkauai to yearn_finance [link] [comments]

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

Delightful Privacy

Delightful Privacy delightful

This is a collection of software, operating systems, and other miscellaneous tools to help the average user fight for their privacy and security online.

Operating Systems

Fedora

Fedora uses Security-Enhanced Linux by default, which implements a variety of security policies, including mandatory access controls, which Fedora adopted early on. Fedora provides a hardening wrapper, and does hardening for all of its packages by using compiler features such as position-independent executable (PIE). Wikipedia

Pop!_OS

Pop!_OS provides full out-of-the-box support for both AMD and Nvidia GPUs. It is regarded as an easy distribution to set-up for gaming, mainly due to its built-in GPU support. Pop!_OS provides default disk encryption, streamlined window and workspace management, keyboard shortcuts for navigation as well as built in power management profiles. The latest releases also have packages that allow for easy setup for TensorFlow and CUDA. Wikipedia

Debian

Debian is one of the oldest operating systems based on the Linux kernel. The project is coordinated over the Internet by a team of volunteers guided by the Debian Project Leader and three foundational documents: the Debian Social Contract, the Debian Constitution, and the Debian Free Software Guidelines. New distributions are updated continually, and the next candidate is released after a time-based freeze. Wikipedia

openSUSE Tumbleweed - Rolling Release!

Any user who wishes to have the newest packages that include, but are not limited to, the Linux Kernel, SAMBA, git, desktops, office applications and many other packages, will want Tumbleweed. openSUSE

For enhanced security

Qubes OS

Qubes OS is a security-focused desktop operating system that aims to provide security through isolation. Virtualization is performed by Xen, and user environments can be based on Fedora, Debian, Whonix, and Microsoft Windows, among other operating systems. Wikipedia

Tails

Tails, or The Amnesic Incognito Live System, is a security-focused Debian-based Linux distribution aimed at preserving privacy and anonymity. All its incoming and outgoing connections are forced to go through Tor, and any non-anonymous connections are blocked. Wikipedia).*

Whonix

Whonix is a Debian GNU/Linux–based security-focused Linux distribution. It aims to provide privacy, security and anonymity on the internet. The operating system consists of two virtual machines, a "Workstation" and a Tor "Gateway", running Debian GNU/Linux. All communications are forced through the Tor network to accomplish this. Wikipedia

Web Browsers

For Desktop

Firefox Needs manual tweaking to be more secure! Use ghacks

Firefox, is a free and open-source web browser developed by the Mozilla Foundation and its subsidiary, the Mozilla Corporation. Wikipedia Recommended addons: uBlock Origin | Https Everywhere | Privacy Badger | Privacy Possum | Decentraleyes | NoScript | CanvasBlocker

Tor

Tor is free and open-source software for enabling anonymous communication. The name derived from the acronym for the original software project name "The Onion Router". Tor directs Internet traffic through a free, worldwide, volunteer overlay network consisting of more than seven thousand relays to conceal a user's location and usage from anyone conducting network surveillance or traffic analysis. Using Tor makes it more difficult to trace Internet activity to the user. Wikipedia

UnGoogled-Chromium

Without signing in to a Google Account, Chromium does pretty well in terms of security and privacy. However, Chromium still has some dependency on Google web services and binaries. In addition, Google designed Chromium to be easy and intuitive for users, which means they compromise on transparency and control of internal operations.
ungoogled-chromium addresses these issues in the following ways:

For mobile

Bromite Android Only

Bromite is a Chromium fork with ad blocking and privacy enhancements; take back your browser! Bromite

Firefox Focus Android - iOS

Firefox Focus is a free and open-source privacy-focused browser from Mozilla, available for Android and iOS. Wikipedia

Tor Browser for mobile Android - iOS

Tor protects your privacy on the internet by hiding the connection between your Internet address and the services you use. We believe Tor is reasonably secure, but please ensure you read the instructions and configure it properly. GitHub

Email

Tutanota

Tutanota is an end-to-end encrypted email software and freemium hosted secure email service. Wikipedia

Mailbox

There are many ears listening on the Internet, which is why all our services require mandatory SSL/TLS-encrypted data transmission. For additional security, we also use enhanced (green) security certificates ("EV") by the independent SwissSign trust service provider from Switzerland (Check the padlock symbol in your web browser's URL field). But this is just the beginning – there is so much more that we do. Mailbox

Disroot

Disroot is a decentralized cloud-based service that allows you to store your files and communicate with one another. Established by a privacy-focused organization of volunteers, if we look at Disroot as an email provider specifically, it stands out thanks to its emphasis on security with a completly free open-source approach. ProPrivacy

ProtonMail

ProtonMail is an end-to-end encrypted email service founded in 2013 in Geneva, Switzerland by scientists who met at the CERN research facility. ProtonMail uses client-side encryption to protect email content and user data before they are sent to ProtonMail servers, unlike other common email providers such as Gmail and Outlook.com. The service can be accessed through a webmail client, the Tor network, or dedicated iOS and Android apps. Wikipedia

Search Engine

Searx

searx is a free metasearch engine, available under the GNU Affero General Public License version 3, with the aim of protecting the privacy of its users. To this end, searx does not share users' IP addresses or search history with the search engines from which it gathers results. Tracking cookies served by the search engines are blocked, preventing user-profiling-based results modification. By default, searx queries are submitted via HTTP POST, to prevent users' query keywords from appearing in webserver logs. Wikipedia - Find public instances of searx here searx.space

Startpage

Startpage is a web search engine that highlights privacy as its distinguishing feature. Previously, it was known as the metasearch engine Ixquick, At that time, Startpage was a variant service. Both sites were merged in 2016. Wikipedia

YaCy

YaCy is a free distributed search engine, built on principles of peer-to-peer (P2P) networks. Its core is a computer program written in Java distributed on several hundred computers, as of September 2006, so-called YaCy-peers. Each YaCy-peer independently crawls through the Internet, analyzes and indexes found web pages, and stores indexing results in a common database (so called index) which is shared with other YaCy-peers using principles of P2P networks. It is a free search engine that everyone can use to build a search portal for their intranet and to help search the public internet clearly. Wikipedia

VPN

If you need anonymity and privacy online use Tor instead, if you are looking to bypass a geo-restriction, don't trust public WiFi, or are looking to Torrent, a VPN will help you.

Mullvad

Mullvad is an open-source commercial virtual private network (VPN) service based in Sweden. Launched in March 2009, Mullvad operates using the WireGuard and OpenVPN protocols. Mullvad accepts Bitcoin and Bitcoin Cash for subscriptions in addition to conventional payment methods.
No email address or other identifying information is requested during Mullvad's registration process. Rather, a unique 16-digit account number is anonymously generated for each new user. This account number is henceforth used to log in to the Mullvad service.
The TechRadar review notes that "The end result of all this is you don't have to worry about how Mullvad handles court requests to access your usage data, because, well, there isn't any." Wikipedia

ProtonVPN

ProtonVPN utilizes OpenVPN (UDP/TCP) and the IKEv2 protocol, with AES-256 encryption. The company has a strict no-logging policy for user connection data, and also prevents DNS and Web-RTC leaks from exposing users' true IP addresses. ProtonVPN also includes Tor access support and a kill switch to shut off Internet access in the event of a lost VPN connection.
In January 2020, ProtonVPN became the first VPN provider to release its source code on all platforms and conduct an independent security audit. ProtonVPN is the only VPN to do so, even though experts say this is a crucial factor in deciding whether to trust a VPN service. Wikipedia

For information about alternatives to software and services.

If you are looking for alternatives to proprietary services like Discord and Facebook, or an open-source alternative to Photoshop, check out our list about Awesome-Alternatives

Mirrors are kept up to date, this post may lag behind as we add stuff in.

submitted by CipherOps to LinuxCafe [link] [comments]

Update and Few Thoughts, a (Well-Typed) transcript: Liza&Charles the marketeers, Voltaire kick-off, PrisM and Ebb-and-Flow to fuck ETH2.0 Gasper, the (back)log of a man and a falcon, lots of companies, September Goguen time, Basho, 2021 Titans, Basho, Hydra and much more thoughts and prayers

Hi everybody this is Charles Hoskinson broadcasting live from warm sunny Colorado. I'm trying a new streaming service and it allows me to annotate a few things and simulcast to both periscope and youtube. Let's see how this works. I also get to put a little caption. I think for the future, I'm just for a while going to put: "I will never give away ada". So, when people repost my videos for giveaway scams they at least have that. First off, a thank you, a community member named Daryl had decided to carve a log and give his artistic impression of my twitter profile picture of me and the falcon so that always means a lot when I get these gifts from fans and also I just wanted to, on the back of the Catalyst presentation, express my profound gratitude and excitement to the community.
You know it's really really cool to see how much progress has been made in such a short period of time. It was only yesterday when we were saying "when Shelley"? Now Shelley's out and it's evolving rapidly. Voltaire is now starting to evolve rapidly and we're real close to Goguen. At the end of this month we'll be able to talk around some of the realities of Goguen and some of the ideas we have and give some dates for certain things and give you a sense of where that project is at. The good news is that we have gained an enormous amount of progress and knowledge about what we need to do and how to get that done and basically people are just executing and it's a much smaller task than getting us to Shelley. With Byron to Shelley we literally had to build a completely new cryptocurrency from the ground up. We had to have new ledger rules, new update system, we had to invent a way of transitioning from one system to another system and there's hundreds of other little innovations along the way: new network stack and so forth. Byron cosmetically looks like Shelley but under the hood it's completely different and the Shelley design was built with a lot of the things that we needed for Goguen in mind. For example, we built Shelley with the idea of extended UTXO and we built Shelley understanding what the realities were for the smart contract model and that's one of the advantages you get when you do this type of bespoke engineering. There's two consequences to that, one, the integration is significantly easier, and two, the integration is significantly faster. We won't look at that same complexity there.
The product update at the end of the month... We'll really start discussing around some of these things as well as talk about partners and talk about how the development ecosystem is going to evolve. There are a lot of threads throughout all three organizations that are happening simultaneously. Emurgo, they're really thinking deeply about DeFi and they've invited us to collaborate with them on things like stablecoins for example but we're also looking at oracles (oracle pools), DEX and these other things and because there are already people in market who have made mistakes, learned lessons, it gives us the benefit of hindsight. It means we can be much faster to market and we can build much more competitive things in market and the Cardano community gets first access to these next generation DeFi applications without a lot of the problems of the prior generations and that's super beneficial to us.
You know, the other side of it, is that Voltaire is going to have a systemic influence not just on community funding but also the overall evolution and direction of the platform. The longer it exists the more pervasive it will become. Probably first applied towards the Cardano foundation roadmap but later on it will definitely have a lot of influence and say over every element aspect of the system including the launch dApps and these other things. Basically, long term, the types of problems that Cardano solves so that's incredibly appealing to me and very exciting to me because it's like I have this giant community brain with the best and brightest of all of you working with us to get us where we need to go.
You know, another thing that was super encouraging, it's a small thing, but it shows us that we're definitely in the right direction was that we recently got a demo from Pramod (Viswanath) and his team out of university of Illinois on a protocol they create called PrisM which is a super fast proof-of-work protocol and they wrote this beautiful paper and they wrote code along with it that showed that PrisM is a ten thousand times faster than Nakamoto consensus. If you take the bitcoin proof-of-work protocol, you strip it out, you put PrisM in, you can run the entire bitcoin system 10000 times faster. They have these beautiful benchmarks to show that. Even in bad network conditions. (I'm) promoting this team, they're, they're real researchers, and they're real engineers, they use a lot of cool HPC concepts like springboarding and other things like that to accommodate that. Then I asked him in the presentation, I said well, how much faster if you replay the Ethereum chain? He says, well, that it takes a big performance hit, could be only maybe a hundred times because that model is not as easy to optimize and shard with standard computer science concepts. In fact in some cases there are limitations there that really can't be overcome. It turns out that we're more on that UTXO side than we are on the account side. As a coincidence or intent of the design of extended UTXO we're gonna have a lot easier time getting much higher performance where and when it's necessary.
I also approved this week a scaling up of the Basho project. In particular, to build a hydra prototype team. The science has gotten to a point where we can make a really competitive push in that particular direction. What does that mean? It means that in just a few short months we can de-risk technological approaches that long-term will give us a lot of fruit where and when the community decides that they need infrastructure like hydra. Now, here's the beautiful thing about hydra. If you watch my whiteboard back in September of 2017 when Cardano first hit market with Byron I talked about this concept of looking at scalability with a very simple test which is as you get more people in the system it stays at the same performance or it gets faster. We all experience systems that do this, for example, bittorrent, more people downloading something you tend to be able to get it faster and we all experience the converse which is, the system gets slower when you get more people. What does this mean? It means that hydra is an actual approach towards true scalability in the system and it's a lot easier to do than sharding even though we have a beautiful approach to get the sharding on the ledger side if we truly desire to go down that way. There's beautiful ideas that we are definitely in deep discussions about. That's a very complex thing. There was recently a paper ("Ebb-and-Flow Protocols: A Resolution of the Availability-Finality Dilemma") out of Stanford that showed that the Gasper protocol as proposed for ETH2.0 does have some security concerns and it's going to be the burden on the shoulders of the Ethereum 2.0 developers and Vitalik to address those concerns from those Stanford professors. Whenever you have these very complex protocols they have so many different ways they can break and things can go wrong so it's much more appealing when you don't have to embrace complexity to achieve the same. The elegance of hydra is that stake pool operators are very natural parties to put hydra channels on and every time we add one we get much more performance out of that and the system as it gets more valuable. The k factor increases which means you get more stake pull operators, which means you get more hydra channels, so with growth we get appreciation, with appreciation we get more decentralization, with more decentralization we get more performance. In essence, this spiritually speaking, is really what we meant when we said scalability. That the system will always grow to meet its particular needs and we have a very elegant way of moving in that direction that doesn't require us to embrace very sophisticated techniques. It's not to say that these techniques don't have a place and purpose but it says that the urgency of implementing these is gone and we then have the luxury to pick the best science when it's ready instead of rushing it to market to resolve a crisis of high fees. We'll never have that crisis so there's a beauty to Cardano that is missing, I in my view, from many cryptocurrencies and blockchains in the marketplace and we're now seeing that beauty shine through. Not only through our community who are so passionate and amazing but in the science and the engineering itself and how easy it is for us to navigate the concepts. How easy it is for us to add more things, to take some things away, to clean some things up here and there and our ability to move through.
I never imagined when in 2015 I signed up to go in on this crazy ride and try to build a world financial operating system we would have made as much progress as we made today. We've written more than 75 research papers as an organization many of which are directly applicable to Cardano. We've got great partners who work with Nasa and Boeing and Pfizer, massive companies, that have 10 years of history and millions of users to come in and help us grow better. We've worked with incredible organizations, major universities like university of Wyoming, university of Edinburgh, Tokyo, tech professors all across the world. We've worked with incredible engineering firms like VacuumLabs and AtixLabs and Twig and Well-Typed, runtime verification, QuviQ and dozens of others along the years and despite the fact that at times there's been delays and friction throughout this entire journey we've mostly been aligned and we keep learning and growing. It gives me so much hope that our best days are ahead of us and an almost fanatical belief that success is inevitable in a certain respect. You see because we always find a way to be here tomorrow and we always find a way to make tomorrow a better day than today and as long as that's the trend you're monotonically increasing towards a better tomorrow, you're always going to have that outcome, you're always going to be in a position where Cardano shines bright. Towards the end of the month we'll have a lot more to say about the development side and that'll be a beginning just like Voltaire is the beginning and then suddenly you now notice the beautiful parallelism of the roadmap. Shelley continues to evolve, partial delegation is coming, in fact, I signed the contract with vacuumlabs to bring that to Ledger (and Trezor). The Daedalus team is hard at work to make that feature apparent for everyone as is the Yoroi team.
You see that, with now Voltaire, and soon was Goguen, and these are not endpoints, rather they're just beginnings and they're never over. We can always make staking better, more diverse, more merit-based and entertain different control models, have better delegation mechanics, have better user experience. The same for smart contracts, that's an endless river and along the way what we've discovered is it's easy for us to work with great minds and great people. For example with testing of smart contracts I would love to diversify that conversation above and beyond what we can come up with and bring in some firms who have done this for a long time to basically take that part with us shoulder to shoulder and build beautiful frameworks to assist us. For example, runtime verification is doing this with, the EVM with a beautiful project called Firefly to replace Truffle. I believe that we can achieve similar ends with Plutus smart contracts.
When you ask yourself what makes a system competitive in the cryptocurrency space? In my view there are four dimensions and you have to have a good story for all four of those dimensions. You need security and correctness. A lot of people don't prioritize that but when they get that wrong it hurts retail people, it hurts everyday people, billions of dollars have been lost due to the incompetence and ineptitude of junior developers making very bad mistakes and oftentimes those developers faced no consequences. The people who lost money were innocent people who believed in cryptocurrencies and wanted to be part of the movement but didn't protect themselves adequately. That's a really sad thing and it's unethical to continue pushing a model that that is the standard or the likely outcome rather than a rare edge case. You have to as a platform, a third generation platformn invest heavily in giving the developers proper tools to ensure security and correctness. We've seen a whole industry there's been great innovations out of Quantstamp and ConsenSys and dozens of other firms in the space including runtime verification who have really made major leaps in the last few years of trying to improve that story. What's unique to Cardano is that we based our foundations on languages that were designed right the first time and there's over 35 years of history for the approach that we're following in the Haskell side that allows us to build high assurance systems and our developers in the ecosystem to build high assurance systems. We didn't reinvent the wheel, we found the best wheel and we're giving it to you.
I think we're going to be dominant in that respect as we enter 2021. Second, you look at things like ease of maintenance, ease of deployment, the life cycle of the software upgrades to the software and as we've demonstrated with things like the hard fork combinator and the fact that Voltaire is not just a governance layer for ada and Cardano but will eventually be reusable for any dApp deployed on our system. You have very natural tooling that's going to allow people to upgrade their smart contracts, their dApps and enable governance for their users at an incredibly low cost and not have to reinvent the governance wheel each and every application. This is another unique property to our system and it can be reused for the dApps that you deploy on your system as I've mentioned before. Performance is a significant concern and this was often corrupted by marketers especially ICO marketers who really wanted to differentiate (and) say: "our protocol tested on a single server in someone's basement is 500000 transactions per second" and somehow that translates to real life performance and that's antithetical to anyone who's ever to study distributed systems and understands the reality of these systems and where they go and what they do and in terms of performance. I think we have the most logical approach. You know, we have 10 years of history with bitcoin, it's a massive system, we've learned a huge amount and there's a lot of papers written about, a lot of practical projects and bitcoin is about to step into the world of smart contracts. We congratulate them on getting Schnorr sigs in and the success of Taproot. That means entering 2021, 2022, we are going to start seeing legitimate dApps DeFi projects, real applications, instead of choosing Ethereum or Algorand, EOS, Cardano, choosing bitcoin and they're adding a lot to that conversation. I think that ultimately that model has a lot of promise which is why we built a better one. There are still significant limitations with what bitcoin can accomplish from settlement time to the verbosity of contracts that can be written.
The extended UTXO model was designed to be the fastest accounting and most charitable accounting model ever, on and off chain, and hydra was designed to allow you to flex between those two systems seamlessly. When you look at the foundations of where we're at and how we can extend this from domain specific languages, for domain experts, such as Marlowe to financial experts, and the DSLs that will come later, for others, like lawyers and supply chain experts in medical databases and so forth and how easy it is to write and deploy these. Plutus being beautiful glue code for both on and off chain communications. I think we have an incredibly competitive offering for performance and when hydra comes, simply put, there'll be no one faster. If we need to shard, we're going to do that and definitely better than anybody else because we know where our security model sits and there won't be surprise Stanford papers to blindside us that require immediate addressing.
In terms of operating costs, this is the last component, in my view, and that's basically how much does it cost you the developer to run your application? There are really two dimensions, one is predictability and the other is amount. It's not just good enough to say: it's a penny per transaction today. You need to know that after you spend millions of dollars and months or years of effort building something and deploying something that you're not going to wake up tomorrow and now it's five dollars to do what used to cost a penny. You need that cost to be as low as possible and as predictable as possible and again the way that we architectured our system and as we turn things on towards the end of this year and as we enter into the next year we believe we have a great approach to achieve low operating cost. One person asks why Cardano? Well because we have great security and correctness in the development experience and tools with 35 years of legacy that were built right the first time and don't put the burdens of mistakes on your customers. They ask why Cardano and we say: well the chain itself is going to give you great solutions with identity value transformation and governance itself and as a consequence when you talk about upgrading your applications having a relationship with your customers of your applications and you talk about the ease of maintenance of those applications. There's going to be a good story there and we have beautiful frameworks like Voltaire that allow that story to evolve and we keep adding partners and who have decades of experience to get us along. We won't stop until it's much better. They asked why Cardano? We said because at the moment we're 10 times faster today than Ethereum today and that's all we really need for this year and next year to be honest and in the future we can be as fast as we need to be because we're truly scalable. As the system gets more decentralized the system improves performance and where and when we need to shard we can do that. We'll have the luxury of time to do it right, the Cardano way, and when people ask why Cardano? Because the reality is, it's very cheap to do things on our platform and the way we're building things. That's going to continue being the case and we have the governance mechanisms to allow the community to readjust fees and parameters so that it can continue being affordable for users. Everything in the system will eventually be customizable and parameterizable: from block size, to transaction fees and the community will be in a good position to dynamically allocate these things where and when needed so that we can enjoy as an ecosystem predictability in our cost.
In the coming weeks and months, especially in my company, we're going to invest a lot of time and effort into comparison marketing and product marketing. When I see people say, oh well, you've launched proof of stake, a lot of other people have done. I don't think those people fully appreciate the magnitude of what we actually accomplished as an ecosystem and the quality of the protocols that are in distribution. That's not their fault, it's our fault, because we didn't take the time in simplistic terms, not scientific papers and deep code and formal specifications, but rather everyday language, to really show why we're different. I admit that that's a product failing and that needs to be corrected so we hired a great marketing director, named Liza (Horowitz?) and she is going to work full time with me and others in the ecosystem, a great team of people, every single day to get out there and explain what we have done is novel, unique, competitive and special to our industry. Everything from Ouroboros and contrast to major other protocols from the EOSes and Algorands and the Tezos of the world. Why we're different, trade-offs we chose over them, to our network stack, to the extended UTXO model, to Plutus, to Marlowe and we're going to keep hammering away at that until we get it right and everybody acknowledges and sees what has been accomplished.
I've spent five years of my life, good years of my life, and missed a lot to get this project where it needs to go. All of our employees have invested huge sums of their personal lives, their time, their brand, their careers, in trying to make this the really most magical and special cryptocurrency and blockchain infrastructure around. No one ever signed up in this company or the other companies working on Cardano to work on a mediocre protocol. That's just another blockchain, they signed up to change the world, they signed up to build a system that legitimately can look at you in the face and say: one day we have the potential to have a billion users! That's what they signed up for and they showed up to play. They built technology that evolves in that direction with some certainty and great foundations and we have an obligation to market in a way that can show the world why, succinctly, with clarity. Understandably, this has been a failing in the past but you know what? You can always be better tomorrow that monotonically increasing make it better and that's what we're going to do. We recognized it and we're going to invest in it and with Voltaire if we can't do it. You the community can do it and we'll work with you. If you can do a better job and the funding will be there to get that done. In addition to this, we think about 2021 and we ask where does the future take us? I've thought a lot about this you know I've thought a lot about how do we get the next five years as we close out 2020 and here's the reality: we're not going to leave as a company until we have smart contracts and multi-asset and Voltaire has evolved to a point where the community can comfortably make decisions about the future of the protocol and that the staking experience has solidified and it's stable.
I don't care if this costs me millions or tens of millions of dollars out of my own pocket to make happen. I'm going to do that because that's my commitment to you, the community and every product update will keep pushing our way there. We'll continue to get more transparent, we'll continue to get more aggressive and hire more and parallelize more. Aware when we can, to deliver that experience so that Cardano gets where it needs to go. Then when we ask about where do we go next? The reality is that the science as an industry, the engineering as an industry has given a menu of incredibly unique attractive and sexy things that we can pursue. What we're going to do is work with the community and the very same tools that are turning on today, the Voltaire tools, the cardano.ideascale.com tools and we're going to propose a consortium and we're going to bring the best and brightest together and give a vision of where we can take the system in another five years. With the benefit of hindsight, massively improved processes, better estimation capabilities and the fact that we're not starting with two people at IOG. We're starting with 250 people and the best scientific division in our industry and the legacy of almost, nearly by the end of this year, 100 scientific papers. That's us, you know what, there's dozens of companies throughout the history who have worked on Cardano. It's about time to scale them up too and get client diversity. So come next year when the protocol has evolved to the point where it's ready for it, we'll have that conversation with you the community and that's going to be a beautiful conversation. At the conclusion of it, there's going to be certainty of how we're going to evolve over the next five years to get ourselves beyond the cryptocurrency space. I'm very tired of these conversations we have about: are you going to go to (coindesk's) consensus or not? Or who's going to be the big winner? What about Libra or what about this particular regulation and this crypto unicorn and this thing?
You know I've been in the space a long time and I've noticed that people keep saying the same things year after year in the same venues. Yes, the crowd sizes get larger and the amount of value at risk gets larger but I haven't seen a lot of progress in the places where I feel it is absolutely necessary for this technology to be permanent in the developing world. We need to see economic identity. People often ask what is the mission for Cardano? For us IOG, you look at economic identity and you take a look at a roadmap. For it, you scale up and down, and each and every step along the way, from open data, to self-sovereign identity, to financial inclusion. You can keep going down: to decentralized lending, decentralized insurance, decentralized banking. Each and every step along the way to economic identity. When you admit a blockchain tells you that, there's a collection of applications and infrastructure that you need to build.
My life's work is to get to a point where we have the technology to do that. The infrastructure to do that, with principles, and so we'll keep evolving Cardano and we'll keep evolving the space as a whole and the science as a whole until I can wake up and say: each box and that road to economic identity, for all people not just one group, we have a solution for that. I'm going to put those applications on Cardano and success for me is not about us being king of the crypto hill and having a higher market cap than bitcoin or being entrepreneur of the year coindesk's most influential person. It's meaningless noise, success for me is reflecting back at the things that we have accomplished together and recognizing that millions if not billions now live in a system where they all matter, they all have a voice, they all have an equal footing. The Jeff Bezos of the world have the very same experience as the person born in Rwanda and we're not done until that's the case. It's a long road, it's a hard road, but you know what? We're making progress, we have great people in Africa, we have great people in eastern Europe, we have great people in southeast Asia and great partners all along the way. Great people, Latin America, great people in south America, great people here in the United States.
When we talk about economic identity there are millions, if not tens of millions of Americans who don't have it. Same for Canadians, hundreds of thousands, who don't have it. Developed western cultures, it's the greatest blind spot of policy and as we enter into a depression as a result of coronavirus, add millions if not tens of millions more onto that list. Generations are being disenfranchised by this legacy system and we as an ecosystem, we as an entire community are offering a different way forward. Not hyper centralizationn not social credit but a way forward where you own your own money, your own identity, your own data. You're not a victim of surveillance capitalism, you're not a victim of civil asset forfeiture. When you say the wrong things, you get shut out of society. Each and every human being matters and I'm optimistic to believe that when you remind people that they matter they're gonna rise to the occasion. That is the point of my company. In the things that we do each and every day, that's our mission to give the platforms to the world so that those who don't have economic identity can get it and they can keep it and no one can take it from them and they can enjoy an ever increasing growth of standard of living wealth and prosperity.
However you want to measure that this is my goal post, I couldn't care less about the cryptocurrency space. It was a great place to start but the space needs to be reminded why it exists. Bitcoin was given a mandate on the back of the 2008 financial crisis to do something different. It was not given a mandate to go be a new settlement layer for central banks or a new way for the old guard to make more money and banks get bigger and for those who are in control to preserve their power. The whole point of doing something so crazy as to buy a coin that doesn't even exist in real life, that's just a bunch of numbers in the cloud, the whole point of that was so that we as a society could do something different than the way that we'd been doing things before. So, each and every member of the cryptocurrency space needs to remind everyone else from time to time why we're here and where did we come from and where are we going to go.
The beauty of Cardano is we have already achieved for the most part a decentralized brain and that momentum is pushing harder than ever. More and more scientists are waking up, more and more institutions are waking up, getting us there. The code we have, the right approach and I think we have a great competitive offering for 2021 as we go and battle the titans and that's going to be a lot of fun but we know who we are and where we're going and we're in the right places. It's so incredibly encouraging to see the stake pool operators not just be from California or Texas or New York or Canada. To see a lot of stake pool operators from the place that need the most, help everybody does matter and it means a lot to me for the people who are there but it means a lot to everybody to say that we have created an equal platform. It makes the participation of all of us so much more meaningful. We're not just talking to each other, we're talking to the world and by working together on this platform we're lifting the world up and giving people hope. That's the point, there's a lot more to do, we didn't get everything done. You never do you aspire, you work hard, you set a moon, shot and sometimes you can just get to orbit with the first go but you know what? When you build the next rocket you can go to Mars.
Thank you all for being with me, thank you all for being part of this. Today was a damn good day with the announcement of Voltaire. Go to cardano.ideascale.com. You can participate in that, so end of September is going to be a good day too. There's a lot of good days to come, in between a lot of hard days, doing tasks sometimes entirely forgettable but always necessary to keep the revolution going and the movement going. I cannot wait for 2021, our best days are ahead of us, because of you. You all take care now .
Source: https://www.youtube.com/watch?v=BFa9zL_Dl_w
Other things mentioned:
https://cardano.ideascale.com/
https://www.atixlabs.com/blockchain
https://www.well-typed.com/
https://www.vacuumlabs.com/
https://medium.com/interdax/what-is-taproot-and-how-will-it-benefit-bitcoin-5c8944eed8da
https://medium.com/interdax/how-will-schnorr-signatures-benefit-bitcoin-b4482cf85d40
https://quantstamp.com/
https://bloxian.com/bloxian-platforms/ (TWIG)
https://runtimeverification.com/firefly/
https://www.trufflesuite.com/
https://experts.illinois.edu/en/publications/prism-deconstructing-the-blockchain-to-approach-physical-limits (PrisM and not our Prism https://atalaprism.io/)
Ebb-and-Flow Protocols: A Resolution of the Availability-Finality Dilemma (aka Gasper and ETH2.0 fucker) https://arxiv.org/abs/2009.04987
http://www.quviq.com/products/
https://en.wikipedia.org/wiki/Schnorr_signature
submitted by stake_pool to cardano [link] [comments]

RiB Newsletter #16 – Secure Enclaves à la Crab

For the last few months we’ve been following new zero-knowledge proof projects in Rust. This month, with Secret Network upgrading their mainnet with secret contracts, it seems like a good opportunity to explore Rust blockchains that are using a completely different privacy-preserving technology: secure enclaves.
Secure enclaves are processes whose environment is protected from inspection by other processes, even the kernel, by special hardware. This protection particularly involves the encryption of a process’s memory. Software that wants to compute in secret can put those computations inside a secure enclave and, if everything works as expected, neither a local user, nor the hosting provider, can snoop on the computations being performed. The most notable implementation of secure enclaves is Intel’s SGX (Secure Guard Extensions).
Secure enclaves are an attractive way to perform private computation primarily because they don’t impose any limitations on what can be computed — code that runs inside SGX is more-or-less just regular x86 code, just running inside a special environment. But depending on SGX for privacy does have some special risks: software that runs in an SGX enclave must be signed (if transitively) by Intel’s own cryptographic keys, which means that Intel must approve of any software running in SGX, that Intel can revoke permission to use SGX, and that there is a risk of the signing keys being compromised; and it’s not obvious that secure enclaves are actually secure, there have already been a number of attacks against SGX. Regardless, as of now, hardware enclaves provide security features that aren’t feasible any other way.
There are two prominent Rust blockchains relying on SGX:
Outside of the blockchain world there are some other Rust projects using SGX, the most notable being:
Whether it’s secure enclaves or zk-SNARKs, Rust blockchains are walking the bleeding edge of privacy tech.
In unrelated RiB news, we recently received two donations,
Thanks so much to our anonymous donors. We don’t often receive donations, so this was a nice surprise! We intend to put all monetary contributions to use funding events or new contributors, and we’ll let you know what we do with the funds when we spend them.

Project Spotlight

Each month we like to shine a light on a notable Rust blockchain project. This month that project is…
Aleo.
Aleo is a zero-knowledge blockchain, with its own zero-knowledge programming language, Leo.
We don’t have a lot to say about it, but we think it looks cool. We hope they blog more.

Interesting Things

News

Blog Posts

Papers

Projects


Read more: https://rustinblockchain.org/newsletters/2020-09-30-secure-enclaves-a-la-crab/
submitted by Aimeedeer to rust [link] [comments]

The Buzz on Bitcoin - Wikipedia - YouTube Cardano & Wikipedia; Eth 2.0 Contract Deposits PAUSED ... Revolutionary SGT Protocol ! - Trigon.plus - YouTube Investing in Bitcoin Wisely with Cedric Dahl Bitcoin Protocol Tutorial #7: The Network

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The Buzz on Bitcoin - Wikipedia - YouTube

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