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Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [link] [comments]

Gridcoin Mandatory Update 4.0.0.0 Released - CBR!

.
Well folks the day has finally come. Gridcoin's newest mandatory, 4.0.0.0, CBR is here.
Betsy is ready for showtime!
 
4.0.0.0 is a mandatory update for all users. This means you must update your wallet before the hard fork date or you will be left behind. The hard fork is set at block 1,420,000. This is approximately 20 days from now. We expect the hard fork to occur on either November 7th or 8th. Please update before then!
 
The biggest change in 4.0 is, of course our new block version, v10. This brings CBR (constant block rewards) to Gridcoin. Instead of earning 1.5% APR from Proof of Stake, every block will instead be worth a static 10 GRC. This change follows network consensus through three seperate polls with the aim to increase network difficulty, and by extension, increase the strength and security of the Gridcoin blockchain.
 
If you wish to see resources about how to optimize your staking for CBR, please see this excellent post by core developer @jamescowens.
 
Download the update from GitHub here.
 
Linux PPAs are now updated!
The Windows MSI can be downloaded here. Checksum.
Full changelog for the 4.0 release:
 
Added
Linux nodes can now stake superblocks using forwarded contracts, #1060 (@tomasbrod). 
Changed
Replace interest with constant block reward #1160 (@tomasbrod). Fork is set to trigger at block 1420000. Raise coinstake output count limit to 8 #1261 (@tomasbrod). Port of Bitcoin hash implementation #1208 (@jamescowens). Minor canges for the build documentation #1091 (@Lenni). Allow sendmany to be used without an account specified #1158 (@Foggyx420). 
Fixed
Fix cpids and validcpids not returning the correct data #1233 (@Foggyx420). Fix listsinceblock not showing mined blocks to change addresses, #501 (@Foggyx420). Fix crash when raining using a locked wallet #1236 (@Foggyx420). Fix invalid stake reward/fee calculation (@jamescowens). Fix divide by zero bug in getblockstats RPC #1292 (@Foggyx420). Bypass historical bad blocks on testnet #1252 (@Quezacoatl1). Fix MacOS memorybarrier warnings #1193 (@ghost). 
Removed
Remove neuralhash from the getpeerinfo and node stats #1123 (@Foggyx420). Remove obsolete NN code #1121 (@Foggyx420). Remove (lower) Mint Limiter #1212 (@tomasbrod). 
 
Thank you to all our of dedicated developers for all the hard work and long nights that have gone into making this release a reality. Thank you also to all of the dedicated folks on testnet who have been so helpful in finding and helping solve critical issues before we released this massive overhaul. We couldn't have done this without your help.
submitted by barton26 to gridcoin [link] [comments]

Implementing full Internet IPv6 end-to-end encryption based on Cryptographically Generated Address

# Foreword

Encryption based on shared secrets

Symmetric encryption is based on shared keys, asymmetric encryption is based on shared public keys, and HTTPS is based on the browser's built-in CA root certificate.

There have been rumors that IPv6 can implement end-to-end encryption of all the Internet based on IPsec, but this is impossible.

IPsec is also based on passwords or certificates, and also requires shared secrets.

The problem is that there is no shared secret between us and strangers. Without the secret of sharing, we can't authenticate each other. If this problem is not solved, Internet end-to-end encryption is impossible.

But Cryptographically Generated Address (CGA) solves this problem because CGA turns the IPv6 address itself into a "shared secret."

# Cryptographically Generated Address

Detailed CGA information can be found in RFC 3972, I will briefly explain here.

CGA is used to implement Secure Neighbor Discovery, which resolves authentication without CA.

The CGA divides the IPv6 address into three parts, the first 64-bit subnet prefix, the middle 3 bits of computational difficulty, and the last 59 bits of the hash address generated based on the public key.

+-+-+-+-+-+-+-+-+-
| |
| modifier |
| |
+-+-+-+-+-+-+-+-+-
| |
| subnet prefix |
| |
+-+-+-+-+-+-+-+-+-
|collision count |
| |
| public key |
| |
+-+-+-+-+-+-+-+-+-
| |
| Extension Fields |
| |
+-+-+-+-+-+-+-+-+-

  1. Generate a 128-bit random value and fill in the modifier, set the network prefix and collision count to 0, and fill in the public key and extension field.

  1. Perform the hash on the above CGA data structure, and get the hash value of the first 112 bits as HASH2.

  1. If the first 16 * sec bit of HASH2 is 0, continue, otherwise the modifier increments by 1 and repeats the second step. This is a proof of workload, increasing the difficulty of hash collision.

  1. Fill in the actual network prefix, perform a hash on the CGA data structure, and record the first 64 bits of the hash value as HASH1.

  1. Cover the first 3 bits of HASH1 with sec. Now we get the CGA address. Combining the 64-bit network prefix with the CGA address is the complete IPv6 address.

  1. If an IPv6 address conflict occurs and someone has used this address, increase the collision count and return to step 4.

The above is the process of CGA generating IPv6 address. We successfully associate the public key with the IPv6 address. No CA is needed. The IPv6 address contains the shared secret.

Now we can send the public key to the stranger and sign it with the private key. MITM cannot replace the public key. Because there is a hash of the public key in the IPv6 address, the public key cannot be forged.

In Secure Neighbor Discovery, CGA is used to prevent impersonation of NA messages, similar to ARP spoofing attacks, to prevent contamination of MAC addresses in cache tables.

The private key signs the MAC address, and the NA message of the signature and the public key is sent to the other party. The other party verifies the public key according to the hash in IPv6, and verifies the signature, so that the person who forges the NA message has no way to start.

# IPv6 Secure Encryption Protocol

I think CGA is too wasteful if it is only used in Secure Neighbor Discovery.

CGA can be used on the entire Internet!

CGA solves the problem of shared secrets, we can use CGA to achieve end-to-end encryption of the entire Internet.

When we connect to the Internet, the router will send us RA messages, the RA contains the subnet prefix, we can use CGA to generate its own public key, private key, IPv6 address.

When we communicate with strangers, we can use the following handshaking protocol.

Public key, the Diffie-Hellman key, and the signature of the DH-Key can be stored in the extended header of IPv6

pub-A dh-A sign-A
  1. Alice --------------------- Bob

pub-B dh-B sign-B
  1. Alice <----------------------- Bob

encrypt data
  1. Alice --------------------- Bob

encrypt data
  1. Alice <----------------------- Bob

  1. Alice sends the public key, the Diffie-Hellman key, and the signature of the DH-Key with the private key. When Bob receives the message, the public key is verified by CGA. The public key verifies the signature, and DH-Key can be used to generate its own AES password.

  1. Bob replies to the same message from Alice, and Alice also generates her own AES key.

  1. and 4. Now both parties have the same AES key and can encrypt the IPv6 payload.

# Frequently Asked Questions:

  1. Why not use TLS?

Because TLS requires CA, or share the public key in advance.TLS is an application layer protocol that requires developers to configure itself, not a general solution.

I think the Internet needs network layer encryption. Network layer encryption can hide port information. You can't listen to web, dns, ftp at 443 at the same time. Governments and hackers can view the services you are using based on port information.

And encryption at the network layer can protect many plaintext protocols. After all, we can't let everyone use TLS to protect themselves. There should be a way to protect those old servers and those who don't know how to use TLS.

  1. Is the 59-bit hash enough to resist a collision attack?

Network layer encryption is mainly used to provide basic security mechanisms, similar to social insurance. If a higher level of security is required, other protocols can be used at the application layer. The 59-bit hash has proof of workload when calculating hashes, which I think is sufficient to defend against ordinary attackers.

  1. Are there other programs that use CGA-like functions?

Tox (encrypted instant communication), generating the address of the DHT network based on the public key

Bitcoin, generating a wallet address based on the public key

  1. What if the encrypted IPv6 packet is lost?

The network layer is not responsible for the integrity of the data, and the retransmission is the responsibility of the transport layer.

  1. What if lose packets when handshaking?

If Alice's handshake packet is lost, Alice is responsible for retransmission.

pub-A dh-A sign-A
  1. Alice --------------------- Bob lost

pub-A dh-A sign-A
  1. Alice --------------------- Bob retransmission

If Bob's handshake packet is lost, Alice will retransmit his handshake packet, and Bob will send his handshake packet again after receiving it.

If Bob sends its own encrypted message before retransmission, it is ignored because the network layer is not responsible for data integrity and waits for the transport layer to retransmit.

Network layer encryption does not use a three-dimensional handshake like TCP.

pub-A dh-A sign-A
  1. Alice --------------------- Bob

pub-B dh-B sign-B
  1. Alice <----------------------- Bob

encrypt data
  1. Alice <----------------------- Bob

pub-A dh-A sign-A
  1. Alice --------------------- Bob retransmission

pub-B dh-B sign-B
  1. Alice <----------------------- Bob retransmission

encrypt data
  1. Alice <----------------------- Bob


# idea

If we can encrypt at the network layer, I think traffic identification can be a thing of the past, and the Internet is ushered in a new era.

What do you think of this idea?
submitted by ttttabcd to ipv6 [link] [comments]

The Nexus FAQ - part 1

Full formatted version: https://docs.google.com/document/d/16KKjVjQH0ypLe00aoTJ_hZyce7RAtjC5XHom104yn6M/
 

Nexus 101:

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

The Nexus Currency:

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

Types of Mining or Minting:

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

Nexus 101:

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

The Nexus Currency (NXS):

1. How can I get Nexus?
There are two ways you can obtain Nexus. You can either buy Nexus from an exchange, or you can run a miner and be rewarded for finding a block. If you wish to mine Nexus, please follow our guide found below.
Currently, Nexus is available on the following exchanges:
Nexus is actively reaching out to other exchanges to continue to be listed on cutting edge new financial technologies..
 
2. How much does a transaction cost?
Under Nexus, the fee structure for making a transaction depends on the size of your transaction. A default fee of 0.01 NXS will cover most transactions, and users have the option to pay higher fees to ensure their transactions are processed quickly.
When the 3D chain is complete and the initial 10-year distribution period finishes, Nexus will absorb these fees through inflation, enabling free transactions.
 
3. How fast does Nexus transfer?
Nexus reaches consensus approximately every ~ 50 seconds. This is an average time, and will in some circumstances be faster or slower. NXS currency which you receive is available for use after just 6 confirmations. A confirmation is proof from a node that the transaction has been included in a block. The number of confirmations in this transaction is the number that states how many blocks it has been since the transaction is included. The more confirmations a transaction has, the more secure its placement in the blockchain is.
 
4. Did Nexus hold an ICO? How is Nexus funded?
The Nexus Embassy, a 501(C)(3) not-for-profit corporation, develops and maintains the Nexus blockchain software. When Nexus began under the name Coinshield, the early blocks were mined using the Developer and Exchange (Ambassador) addresses, which provides funding for the Nexus Embassy.
The Developer Fund fuels ongoing development and is sourced by a 1.5% commission per block mined, which will slowly increase to 2.5% after 10 years. This brings all the benefits of development funding without the associated risks.
The Ambassador (renamed from Exchange) keys are funded by a 20% commission per block reward. These keys are mainly used to pay for marketing, and producing and launching the Nexus satellites.
When Nexus introduces developer and ambassador contracts, they will be approved, denied, or removed by six voting groups namely: currency, developer, ambassador, prime, hash, and trust.
Please Note: The Nexus Embassy reserves the sole right to trade, sell and or use these funds as required; however, Nexus will endeavor to minimize the impact that the use of these funds has upon the NXS market value.
 
5. Is there a cap on the number of NXS in existence?
After an initial 10-year distribution period ending on September 23rd, 2024, there will be a total of 78 million NXS. Over this period, the reward gradient for mining Nexus follows a decaying logarithmic curve instead of the reward halving inherent in Bitcoin. This avoids creating a situation where older mining equipment is suddenly unprofitable, encouraging miners to continue upgrading their equipment over time and at the same time reducing major market shocks on block halving events.
When the distribution period ends, the currency supply will inflate annually by a maximum of 3% via staking and by 1% via the prime and hashing channels. This inflation is completely unlike traditional inflation, which degrades the value of existing coins. Instead, the cost of providing security to the blockchain is paid by inflation, eliminating transaction fees.
Colin Cantrell - Nexus Inflation Explained
 
6. What is the difference between the LLD wallet and the Oracle wallet?
Due to the scales of efficiency needed by blockchain, Nexus has developed a custom-built database called the Lower Level Database. Since the development of the LLD wallet 0.2.3.1, which is a precursor to the Tritium updates, you should begin using the LLD wallet to take advantage of the faster load times and improved efficiency.
The Oracle wallet is a legacy wallet which is no longer maintained or updated. It utilized the Berkeley DB, which is not designed to meet the needs of a blockchain. Eventually, users will need to migrate to the LLD wallet. Fortunately, the wallet.dat is interchangeable between wallets, so there is no risk of losing access to your NXS.
 
7. How do I change from Oracle to the LLD wallet?
Step 1 - Backup your wallet.dat file. You can do this from within the Oracle wallet Menu, Backup Wallet.
Step 2 - Uninstall the Oracle wallet. Close the wallet and navigate to the wallet data directory. On Windows, this is the Nexus folder located at %APPDATA%\Nexus. On macOS, this is the Nexus folder located at ~/Library/Application Support/Nexus. Move all of the contents to a temporary folder as a backup.
Step 3 - Copy your backup of wallet.dat into the Nexus folder located as per Step 2.
Step 4 - Install the Nexus LLD wallet. Please follow the steps as outlined in the next section. Once your wallet is fully synced, your new wallet will have access to all your addresses.
 
8. How do I install the Nexus Wallet?
You can install your Nexus wallet by following these steps:
Step 1 - Download your wallet from www.nexusearth.com. Click the Downloads menu at the top and select the appropriate wallet for your operating system.
Step 2 - Unzip the wallet program to a folder. Before running the wallet program, please consider space limitations and load times. On the Windows OS, the wallet saves all data to the %APPDATA%\Nexus folder, including the blockchain, which is currently ~3GB.
On macOS, data is saved to the ~/Library/Application Support/Nexus folder. You can create a symbolic link, which will allow you to install this information in another location.
Using Windows, follow these steps:
On macOS, follow these steps:
Step 3 (optional) - Before running the wallet, we recommend downloading the blockchain database manually. Nexus Earth maintains a copy of the blockchain data which can save hours from the wallet synchronization process. Please go to www.nexusearth.com and click the Downloads menu.
Step 4 (optional) - Extract the database file. This is commonly found in the .zip or .rar format, so you may need a program like 7zip to extract the contents. Please extract it to the relevant directory, as outlined in step 2.
Step 5 - You can now start your wallet. After it loads, it should be able to complete synchronization in a short time. This may still take a couple of hours. Once it has completed synchronizing, a green check mark icon will appear in the lower right corner of the wallet.
Step 6 - Encrypt your wallet. This can be done within the wallet, under the Settings menu. Encrypting your wallet will lock it, requiring a password in order to send transactions.
Step 7 - Backup your wallet.dat file. This can be done from the File menu inside the wallet. This file contains the keys to the addresses in your wallet. You may wish to keep a secure copy of your password somewhere, too, in case you forget it or someone else (your spouse, for example) ever needs it.
You should back up your wallet.dat file again any time you create – or a Genesis transaction creates (see “staking” below) – a new address.
 

Types of Mining or Minting:

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

Implementing full Internet IPv6 end-to-end encryption based on Cryptographically Generated Address

# Foreword

Encryption based on shared secrets

Symmetric encryption is based on shared keys, asymmetric encryption is based on shared public keys, and HTTPS is based on the browser's built-in CA root certificate.

There have been rumors that IPv6 can implement end-to-end encryption of all the Internet based on IPsec, but this is impossible.

IPsec is also based on passwords or certificates, and also requires shared secrets.

The problem is that there is no shared secret between us and strangers. Without the secret of sharing, we can't authenticate each other. If this problem is not solved, Internet end-to-end encryption is impossible.

But Cryptographically Generated Address (CGA) solves this problem because CGA turns the IPv6 address itself into a "shared secret."

# Cryptographically Generated Address

Detailed CGA information can be found in RFC 3972, I will briefly explain here.

CGA is used to implement Secure Neighbor Discovery, which resolves authentication without CA.

The CGA divides the IPv6 address into three parts, the first 64-bit subnet prefix, the middle 3 bits of computational difficulty, and the last 59 bits of the hash address generated based on the public key.

+-+-+-+-+-+-+-+-+-
| |
| modifier |
| |
+-+-+-+-+-+-+-+-+-
| |
| subnet prefix |
| |
+-+-+-+-+-+-+-+-+-
|collision count |
| |
| public key |
| |
+-+-+-+-+-+-+-+-+-
| |
| Extension Fields |
| |
+-+-+-+-+-+-+-+-+-

  1. Generate a 128-bit random value and fill in the modifier, set the network prefix and collision count to 0, and fill in the public key and extension field.

  1. Perform the hash on the above CGA data structure, and get the hash value of the first 112 bits as HASH2.

  1. If the first 16 * sec bit of HASH2 is 0, continue, otherwise the modifier increments by 1 and repeats the second step. This is a proof of workload, increasing the difficulty of hash collision.

  1. Fill in the actual network prefix, perform a hash on the CGA data structure, and record the first 64 bits of the hash value as HASH1.

  1. Cover the first 3 bits of HASH1 with sec. Now we get the CGA address. Combining the 64-bit network prefix with the CGA address is the complete IPv6 address.

  1. If an IPv6 address conflict occurs and someone has used this address, increase the collision count and return to step 4.

The above is the process of CGA generating IPv6 address. We successfully associate the public key with the IPv6 address. No CA is needed. The IPv6 address contains the shared secret.

Now we can send the public key to the stranger and sign it with the private key. MITM cannot replace the public key. Because there is a hash of the public key in the IPv6 address, the public key cannot be forged.

In Secure Neighbor Discovery, CGA is used to prevent impersonation of NA messages, similar to ARP spoofing attacks, to prevent contamination of MAC addresses in cache tables.

The private key signs the MAC address, and the NA message of the signature and the public key is sent to the other party. The other party verifies the public key according to the hash in IPv6, and verifies the signature, so that the person who forges the NA message has no way to start.

# IPv6 Secure Encryption Protocol

I think CGA is too wasteful if it is only used in Secure Neighbor Discovery.

CGA can be used on the entire Internet!

CGA solves the problem of shared secrets, we can use CGA to achieve end-to-end encryption of the entire Internet.

When we connect to the Internet, the router will send us RA messages, the RA contains the subnet prefix, we can use CGA to generate its own public key, private key, IPv6 address.

When we communicate with strangers, we can use the following handshaking protocol.

Public key, the Diffie-Hellman key, and the signature of the DH-Key can be stored in the extended header of IPv6

pub-A dh-A sign-A
  1. Alice --------------------- Bob

pub-B dh-B sign-B
  1. Alice <----------------------- Bob

encrypt data
  1. Alice --------------------- Bob

encrypt data
  1. Alice <----------------------- Bob

  1. Alice sends the public key, the Diffie-Hellman key, and the signature of the DH-Key with the private key. When Bob receives the message, the public key is verified by CGA. The public key verifies the signature, and DH-Key can be used to generate its own AES password.

  1. Bob replies to the same message from Alice, and Alice also generates her own AES key.

  1. and 4. Now both parties have the same AES key and can encrypt the IPv6 payload.

# Frequently Asked Questions:

  1. Why not use TLS?

Because TLS requires CA, or share the public key in advance.TLS is an application layer protocol that requires developers to configure itself, not a general solution.

I think the Internet needs network layer encryption. Network layer encryption can hide port information. You can't listen to web, dns, ftp at 443 at the same time. Governments and hackers can view the services you are using based on port information.

And encryption at the network layer can protect many plaintext protocols. After all, we can't let everyone use TLS to protect themselves. There should be a way to protect those old servers and those who don't know how to use TLS.

  1. Is the 59-bit hash enough to resist a collision attack?

Network layer encryption is mainly used to provide basic security mechanisms, similar to social insurance. If a higher level of security is required, other protocols can be used at the application layer. The 59-bit hash has proof of workload when calculating hashes, which I think is sufficient to defend against ordinary attackers.

  1. Are there other programs that use CGA-like functions?

Tox (encrypted instant communication), generating the address of the DHT network based on the public key

Bitcoin, generating a wallet address based on the public key

  1. What if the encrypted IPv6 packet is lost?

The network layer is not responsible for the integrity of the data, and the retransmission is the responsibility of the transport layer.

  1. What if lose packets when handshaking?

If Alice's handshake packet is lost, Alice is responsible for retransmission.

pub-A dh-A sign-A
  1. Alice --------------------- Bob lost

pub-A dh-A sign-A
  1. Alice --------------------- Bob retransmission

If Bob's handshake packet is lost, Alice will retransmit his handshake packet, and Bob will send his handshake packet again after receiving it.

If Bob sends its own encrypted message before retransmission, it is ignored because the network layer is not responsible for data integrity and waits for the transport layer to retransmit.

Network layer encryption does not use a three-dimensional handshake like TCP.

pub-A dh-A sign-A
  1. Alice --------------------- Bob

pub-B dh-B sign-B
  1. Alice <----------------------- Bob

encrypt data
  1. Alice <----------------------- Bob

pub-A dh-A sign-A
  1. Alice --------------------- Bob retransmission

pub-B dh-B sign-B
  1. Alice <----------------------- Bob retransmission

encrypt data
  1. Alice <----------------------- Bob


# idea

If we can encrypt at the network layer, I think traffic identification can be a thing of the past, and the Internet is ushered in a new era.

What do you think of this idea?
submitted by ttttabcd to crypto [link] [comments]

QuarkChain Testnet 2.0 Mining.

QuarkChain Testnet 1.0 was built based on standardized blockchain system requirements, which included network, wallet, browser, and virtual machine functionalities. Other than the fact that the token was a test currency, the environment was completely compatible with the main network. By enhancing the communication efficiency and security of the network, Testnet 2.0 further improves the openness of the network. In addition, Testnet 2.0 will allow community members (other than citizens or residents of the United States) to contribute directly to the network, i.e. running a full node and mining, and receive testnet tokens as rewards.
QuarkChain Testnet 2.0 will support multiple mining algorithms, including two typical algorithms: Ethash and Double SHA256, as well as QuarkChain’s unique algorithm called Qkchash – a customized ASIC-resistant, CPU mining algorithm, exclusively developed by QuarkChain. Mining is available both on the root chain and on shards due to QuarkChain’s two-layered blockchain structure. Miners can flexibly choose to mine on the root chain with higher computing power requirements or on shards based on their own computing power levels. Our Goal By allowing community members to participate in mining on Testnet 2.0, our goal is to enhance QuarkChain’s community consensus, encourage community members to participate in testing and building the QuarkChain network, and gain first-hand experience of QuarkChain’s high flexibility and usability. During this time, we hope that the community can develop a better understanding about our mining algorithms, sharding technologies, and governance structures, etc. Furthermore, this will be a more thorough challenge to QuarkChain’s design before the launch of mainnet! Thus, we sincerely invite you to join the Testnet 2.0 mining event and build QuarkChain’s infrastructure together!
Today, we’re pleased to announce that we are officially providing the CPU mining demo to the public (other than citizens and residents of the United States)! Everyone can participate in our mining event, and earn tQKC, which can be exchanged to real rewards by non-U.S. persons after the launch of our mainnet. Also, we expect to upgrade our testnet over time, and expect to allow GPU mining for Ethash, and ASIC mining for Double SHA256 in the future. In addition, in the near future, a mining pool that is compatible with all mining algorithms of QuarkChain is also expected to be supported.
We hope all the community members can join in with us, and work together to complete this milestone! 2 Introduction to Mining Algorithms 2.1 What is mining? Mining is the process of generating the new blocks, in which the records of current transactions are added to the record of past transactions. Miners use software that contribute their mining power to participate in the maintenance of a blockchain. In return, they obtain a certain amount of QKC per block, which is called coinbase reward. Like many other blockchain technologies, QuarkChain adopts the most widely used Proof of Work (PoW) consensus algorithm to secure the network.
A cryptographically-secure PoW is a costly and time-consuming process which is difficult to solve due to computation-intensity or memory intensity but easy for others to verify. For a block to be valid it must satisfy certain requirements and hash to a value less than the current target threshold. Reverting a block requires recreating all successor blocks and redoing the work they contain, which is costly.
By running a cluster, everyone can become a miner and participate in the mining process. The mining rewards are proportional to the number of blocks mined by each individual.
2.2 Introduction to QuarkChain Algorithms and Mining setup According to QuarkChain’s two-layered blockchain structure and Boson consensus, different shards can apply different consensus and mining algorithms. As part of the Boson consensus, each shard can adjust the difficulty dynamically to increase or decrease the hash power of each shard chain.
In order to fully test QuarkChain testnet 2.0, we adopt three different types of mining algorithms” Ethash, Double SHA256, and Qkchash, which is ASIC resistant and exclusively developed by QuarkChain founder Qi Zhou. These first two hash algorithms correspond to the mining algorithms dominantly conducted on the graphics processing unit (GPU) and application-specific integrated circuits (ASIC), respectively.
I. Ethash Ethash is the PoW mining algorithm for Ethereum. It is the latest version of earlier Dagger-Hashimoto. Ethash is memory intensive, which makes it require large amounts of memory space in the process of mining. The efficiency of mining is basically independent of the CPU, but directly related to memory size and bandwidth. Therefore, by design, building Ethash ASIC is relatively difficult. Currently, the Ethash mining is dominantly conducted on the GPU machines. Read more about Ethash: https://github.com/ethereum/wiki/wiki/Ethash
II. Double SHA256 Double SHA256 is the PoW mining algorithms for Bitcoin. It is computational intensive hash algorithm, which uses two SHA256 iterations for the block header. If the hash result is less than the specific target, the mining is successful. ASIC machine has been developed by Bitmain to find more hashes with less electrical power usage. Read more about Double SHA256: https://en.bitcoin.it/wiki/Block_hashing_algorithm
III. Qkchash Originally, Bitcoin mining was conducted on the CPU of individual computers, with more cores and greater speed resulting in more profitability. After that, the mining process became dominated by GPU machines, then field-programmable gate arrays (FPGA) and finally ASIC, in a race to achieve more hash rates with less electrical power usage. Due to this arms race, it has become increasingly harder for prospective new miners to join. This raises centralization concerns because the manufacturers of the high-performance ASIC are concentrated in a small few.
To solve this, after extensive research and development, QuarkChain founder Dr. Qi Zhou has developed mining algorithm — Qkchash, that is expected to be ASIC-resistant. The idea is motivated by the famous date structure orders-statistic tree. Based on this data structure, Qkchash requires to perform multiple search, insert, and delete operations in the tree, which tries to break the ASIC pipeline and makes the code execution path to be data-dependent and unpredictable besides random memory-access patterns. Thus, the mining efficiency is closely related to the CPU, which ensures the security of Boston consensus and encourges the mining decentralization.
Please refer to Dr. Qi’s paper for more details: https://medium.com/quarkchain-official/order-statistics-based-hash-algorithm-e40f108563c4
2.3 Testnet 2.0 mining configuration Numbers of Shards: 8 Cluster: According to the real-time online mining node The corresponding mining algorithm is Read more about Ethash with Guardian: https://github.com/QuarkChain/pyquarkchain/wiki/Ethash-with-Guardian)
We will provide cluster software and the demo implementation of CPU mining to the public. Miners are able to arbitrarily select one shard or multiple shards to mine according to the mining difficulty and rewards of different shards. GPU / ASIC mining is allowed if the public manages to get it working with the current testnet. With the upgrade of our testnet, we will further provide the corresponding GPU / ASIC software.
QuarkChain’s two-layered blockchain structure, new P2P mode, and Boson consensus algorithm are expected tobe fully tested and verified in the QuarkChain testnet 2.0. 3 Mining Guidance In order to encourage all community members to participate in QuarkChain Testnet 2.0 mining event, we have prepared three mining guidances for community members of different backgrounds.
Today we are releasing the Docker Mining Tutorial first. This tutorial provides a command line configuration guide for developers and a docker image for multiple platforms, including a concise introduction of nodes and mining settings. Follow the instructions here: Quick Start with QuarkChain Mining.
Next we will continue to release: A tutorial for community members who don’t have programming background. In this tutorial, we will teach how to create private QuarkChain nodes using AWS, and how to mine QKC step by step. This tutorial is expected to be released in the next few days. Programs and APIs integrated with GPU / ASIC mining. This is expected to allow existing miners to switch to QKC mining more seamlessly. Frequently Asked Questions: 1. Can I use my laptop or personal computer to mine? Yes, we will provide cluster software and the demo implementation of CPU mining to the public. Miners will be able to arbitrarily select one shard or multiple shards to mine according to the work difficulty and rewards of different shards. 2. What is the minimum requirements for my laptop or personal computer to mine? Please prepare a Linux or MacOs machine with public IP address or port forwarding set up. 3. Can I mine with my GPU or an ASIC machine? For now, we will only be providing the demo implementation of CPU mining as our first step. Interested miners/developers can rewrite the corresponding GPU / ASIC mining program, according to the JSON RPC API we provided. With the upgrade of our testnet, we expect to provide the corresponding GPU / ASIC interface at a later date. 4. What is the difference among the different mining algorithms? Which one should I choose? Double SHA256 is a computational intensive algorithm, but Ethash and Qkchash are memory intensive algorithms, which have certain requirements on the computer’s memory. Since currently we only support CPU mining, the mining efficiency entirely depends on the cores and speed of CPU. 5. For testnet mining, what else should I know? First, the mining process will occupy a computer’s memory. Thus, it is recommended to use an idle computer for mining. In Testnet 2.0 settings, the target block time of root chain is 60 seconds, and the target block time of shard chain is 10 seconds. The mining is a completely random process, which will take some time and consume a certain amount of electricity. 6. What are the risks of testnet mining? Currently our testnet is still under the development stage and may not be 100% stable. Thus, there would be some risks for QuarkChain main chain forks in testnet, software upgrades and system reboots. These may cause your tQKC or block record to be lost despite our best efforts to ensure the stability and security of the testnet.
For more technical questions, welcome to join our developer community on Discard: https://discord.me/quarkchain. 4 Reward Mechanism Testnet 2.0 and all rewards described herein, including mining, are not being offered and will not be available to any citizens or residents of the United States and certain other jurisdictions. All rewards will only be payable following the mainnet launch of QuarkChain. In order to claim or receive any of the following rewards after mainnet launch, you will be required to provide certain identifying documentation and information about yourself. Failure to provide such information or demonstrate compliance with the restrictions herein may result in forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other sanctions.
NO U.S. PERSONS MAY PARTICIPATE IN TESTNET 2.0 AND QUARKCHAIN WILL STRICTLY ENFORCE THIS VIA OUR KYC PROCEDURES. IF YOU ARE A CITIZEN OR RESIDENT OF THE UNITED STATES, DO NOT PARTICIPATE IN TESTNET 2.0. YOU WILL NOT RECEIVE ANY REWARDS FOR YOUR PARTICIPATION.
4.1 Mining Rewards
  1. Prize Pool A total of 5 million QKC prize pool have been reserved to motivate all miners to participate in the testnet 2.0 mining event. According to the different mining algorithms, the prize pool is allocated as follows:
Total Prize Pool: 5,000,000 QKC Prize Pool for Ethash Algorithm: 2,000,000 QKC Prize Pool for Double SHA256 Algorithm: 1,000,000 QKC Prize Pool for Qkchash Algorithm: 2,000,000 QKC
The number of QKC each miner is eligible to receive upon mainnet launch will be calculated on a pro rata basis for each mining algorithm set forth above, based on the ratio of sharded block mined by each miner to the total number of sharded block mined by all miners employing such mining algorithm in Testnet 2.0.
  1. Early-bird Rewards To encourage more people to participate early, we will provide early bird rewards. Miners who participate in the first month (December 2018, PST) will enjoy double points. This additional point reward will be ended on December 31, 2018, 11:59pm (PST).
4.2 Bonus for Bug Submission: If you find any bugs for QuarkChain testnet, please feel free to create an issue on our Github page: https://github.com/QuarkChain/pyquarkchain/issues, or send us an email to [email protected]. We may provide related rewards based on the importance and difficulty of the bugs.
4.3 Reward Rules: QuarkChain reserves the right to review the qualifications of the participants in this event. If any cheating behaviors were to be found, the participant will be immediately disqualified from any rewards. QuarkChain further reserves the right to update the rules of the event, to stop the event/network, or to restart the event/network in its sole discretion, including the right to interpret any rules, terms or conditions. For the latest information, please visit our official website or follow us on Telegram/Twitter. About QuarkChain QuarkChain is a flexible, scalable, and user-oriented blockchain infrastructure by applying blockchain sharding technology. It is one of the first public chains that successfully implemented state sharding technology for blockchain in the world. QuarkChain aims to deliver 100,000+ on-chain TPS. Currently, 14,000+ peak TPS has already been achieved by an early stage testnet. QuarkChain already has over 50 partners in its ecosystem. With flexibility, scalability, and usability, QuarkChain is enabling EVERYONE to enjoy blockchain technology at ANYTIME and ANYWHERE.
Testnet 2.0 and all rewards described herein are not being and will not be offered in the United States or to any U.S. persons (as defined in Regulation S promulgated under the U.S. Securities Act of 1933, as amended) or any citizens or residents of countries subject to sanctions including the Balkans, Belarus, Burma, Cote D’Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Zimbabwe, Central African Republic, Crimea, Lebanon, Libya, Somalia, South Suda, Venezuela and Yemen. QuarkChain reserves the right to terminate, suspend or prohibit participation of any user in Testnet 2.0 at any time.
In order to claim or receive any rewards, including mining rewards, you will be required to provide certain identifying documentation and information. Failure to provide such information or demonstrate compliance with the restrictions herein may result in termination of your participation, forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other actions.
This announcement is provided for informational purposes only and does not guarantee anyone a right to participate in or receive any rewards in connection with Testnet 2.0.
Note: The use of Testnet 2.0 is subject to our terms and conditions available at: https://quarkchain.io/testnet-2-0-terms-and-conditions/
more about qurakchain: Website: https://quarkchain.io/cn/ Facebook: https://www.facebook.com/quarkchainofficial/ Twitter: https://twitter.com/Quark_Chain Telegram: https://t.me/quarkchainio
submitted by Rahadsr to u/Rahadsr [link] [comments]

[Shibenomics 101] Market Cap? GDP? PPP? Moon???

So there's been an unbelievable multitude of threads ranging from "Shibes, is Ð1 = $1 possible?" to "Shibes, Ð1 can never be $1, stop dreaming."
first of all, never tell a shibe not to dream.
second of all, much much more than the ratio of dogecoins to bitcoins to dollars determines the exchange rate of a currency, and that is the subject of today's shibenomics lesson.
Everyshibe has probably heard of GDP, but to define it very quickly - the gross domestic product is the value of all goods and services produced in an economy over a period of time. Normally, GDP is calculated per year, but for the analysis in this article and dogecoin in general, i find it more constructive to think of GDP per day.
Now, how can we possibly find out what the GDP of dogecoin is? The USD has a whole bureau of economic analysis to do that and they still get it wrong half the time...
Herein lies one of the many beauties of the blockchain. The block chain is like a public ledger of every transaction in dogecoin, EVER - which means we can just find the last block with a transaction on Wednesday, January 15th, and the last block with a transaction on Thursday, January 16th, and every transaction in between is part of the GDP for Jan 16th.
note: shibes already versed in economics will point out that some of these transactions may not be for goods and services, but rather conversions from USD or BTC, and some of them may be double counted because they are buying an ingredient for something they plan to sell later for more dogecoins - these objections are somewhat correct, but systematically overestimating GDP means you can still measure GDP change over time, which is what we're really concerned about, and conversions from other currencies are our equivalent of exports
So, as of now, our GDP on January 16th was a whopping 46,793,497,531 DOGE ($18,078,761 USD). Before you object about pay-it-forward threads and tipping and such, let me remind you - tips are a micro-transaction for a service (the service of making you smile :) ) and pay-it-forward threads are the shibe version of state-sanctioned lottery - which is the service of gambling. Now, gambling and entertainment an economy do not make, but 18 million dollars is a pretty big deal. Only bitcoin, litecoin, and quarkcoin have higher GDPs per day than dogecoin, and among those only dogecoin has a reasonably sustainable average transaction value (~$200 vs >$8000).
Ok, so now we know dogecoin has a GDP, and that shibes can feel pretty good about it. Even more impressive, dogecoin GDP has grown from $6.74 million on December 18th to $18 million today - 3.22% per day - at current growth rates, our GDP this time next year would be $1.78 TRILLION (11% of the US economy). Now this is probably unsustainable, but even growing at 20% of our current growth rate for a year would leave us only behind bitcoin in GDP per day.
Now let's consider market cap - the first thing that is striking about dogecoin isn't that its 6th most valuable in terms of market cap - its that dogecoin is the only crypto who's GDP exceeds its market cap, and that too by a whopping 62%. This means that for every 1 dogecoin you spent today, 61.7% of that dogecoin was passed on, and then passed on again, and so on. The velocity of money in the doge economy is ludicrous, and it confers a high degree of stability unto our economy, so kudos all around! A fast velocity of money not only helps fight changes in prices, it also makes it possible to post very high GDP numbers without having a large monetary base.
Apart from this, its also worthwhile to note that our market cap in USD has grown by around 3.6% per day, while the number of dogecoins added to circulation grows by around 2% per day - so despite all the mining, dogecoin has been appreciating in value quite rapidly in value.
On a more theoretical note, it is worth spending a moment to consider PPP (purchasing power parity). In high school economics, PPP means that a big mac in the United States should cost the same amount of real value as a big mac in China, and that the exchange rates will move to reflect that reality. In reality, PPP is more of a goal than a law - it's pretty hard to buy a big mac in China and bring it to the United States so that you get your food cheaper at lunch. In cryptoworld, however, PPP is the law - a bitcoin must cost the same amount in litecoins, dollars, and dogecoins, and the exchange rates will change to reflect that. PPP has so far been strongly determined by the BTC, LTC, DOGE triangle, as there is still not a large volume USD/DOGE exchange to allow arbitrage between the USD/BTC/DOGE (arbitrage is the force that makes PPP a law). Thankfully, a DOGE/USD exchange is probably just around the corner, and so soon we should see DOGE/USD and DOGE/BTC stabilize a bit because of this.
PPP also extends to the world of mining - a kh/s mined on one currency will try to be worth as much as a kh/s mined on another currency - the best example of this is multipool. Right now, it is highly profitable to mine dogecoins because of the strong economy & exchange rate and the low block difficulty, compared to other alt coins relatively weak exchange rates and higher difficulties. Each coin has a predetermined global hash rate it will support based on its coin reward and target block time, and uses the difficulty to keep the reward & timing schedule intact.
What this means is that as more miners work on dogecoin, it becomes less profitable to mine doge unless its value relative to the other cryptos goes up - and this is the cause for the cycles of highs and lows we see in DOGE/BTC. These cycles will probably not stop after the February 14th block halving, but they will be occuring at higher and higher valuations.
It's a point of shibe pride to mention that of all the cryptos, dogecoin probably has the least wealth concentration - the top 100 transactions in dogecoin are only 3.15% of the daily transaction value, whereas for other currencies that number can reach near 50%.
In conclusion, it'll probably be disappointing to hear that I have no clue where DOGE/USD or DOGE/BTC will be in a week, much less when it will hit 1 dogecoin per 1 USD. What I can say, and what should be evident from the numbers, is that dogecoin is developing a strong economic foundation unlike any of the other altcoins, and is much less seedy than bitcoin's early economy. Some of the core difficulties of dogecoin going forward are going to be maintaining our ludicrous velocity of money, which means finding and developing new markets for tipping, diversifying our economy away from mainly tipping while keeping a focus on micro-transactions, and creating a more effective store of value besides hoarding coins in a wallet or giving them away in PIF threads and waiting for them to come back.
TL;DR - TO THE MOON!
statistics used in this article are available on: http://bitinfocharts.com/
submitted by kwickymartkidd to dogecoin [link] [comments]

The Strange Birth & History of Monero, Part III: Decentralized team

You can read here part I (by americanpegaus). This is the post that motivated me to make the part II. Now i'm doing a third part, and there'll be a final 4th part. This is probably too much but i wasn't able to make it shorter. Some will be interested in going through all them, and maybe someone is even willing to make a summary of the whole serie :D.
Monero - an anonymous coin based on CryptoNote technology
https://bitcointalk.org/index.php?topic=582080.0
Comentarios de interés:
-4: "No change, this is just a renaming. In the future, the binaries will have to be changed, as well as some URL, but that's all. By the way, this very account (monero) is shared by several user and is meant to make it easier to change the OP in case of vacancy of the OP. This idea of a shared OP comes from Karmacoin.
Some more things to come:
"
(https://bitcointalk.org/index.php?topic=582080.msg6362672#msg6362672)
-5: “Before this thread is too big, I would like to state that a bug has been identified in the emission curve and we are currently in the process of fixing it (me, TFT, and smooth). Currently coins are emitted at double the rate that was intended. We will correct this in the future, likely by bitshifting values of outputs before a certain height, and then correcting 1 min blocks to 2 min blocks. The changes proposed will be published to a Monero Improvement Protocol on github.”
(https://bitcointalk.org/index.php?topic=582080.msg6363016#msg6363016)
[tacotime make public the bug in the emission curve: token creation is currently 2 times what was intended to be, see this chart BTC vs the actual XMR curve, as it was and it is now, vs the curve that was initially planned in yellow see chart]
-14: “Moving discussion to more relevant thread, previous found here:
https://bitcointalk.org/index.php?topic=578192.msg6364026#msg6364026
I have to say that I am surprised that such an idea [halving current balances and then changing block target to 2 min with same block reward to solve the emission curve issue] is even being countenanced - there are several obvious arguments against it.
Perception - what kind of uproar would happen if this was tried on a more established coin? How can users be expected to trust a coin where it is perceived that the devs are able and willing to "dip" into people's wallets to solve problems?
Technically - people are trying to suggest that this will make no difference since it applies to reward and supply, which might be fair enough if the cap was halved also, but it isn't. People's holdings in the coin are being halved, however it is dressed up.
Market price - How can introducing uncertainty in the contents of people's wallets possibly help market price? I may well be making a fool of myself here, but I have never heard of such a fix before, unless you had savings in a Cypriot bank - has this ever been done for another coin?”
(https://bitcointalk.org/index.php?topic=582080.msg6364174#msg6364174)
-15: “You make good points but unfortunately conflicting statements were made and it isn't possible to stick to them all. It was said that this coin had a mining reward schedule similar to bitcoin. In fact it is twice as fast as intended, even even a bit more than twice as fast as bitcoin.
If you acquired your coins on the basis of the advertised reward schedule, you would be disappointed, and rightfully so, as more coins come to into existence more quickly than you were led to believe.
To simply ignore that aspect of the bug is highly problematic. Every solution may be highly problematic, but the one being proposed was agreed as being the least bad by most of the major stakeholders. Maybe it will still not work, this coin will collapse, and there will need to be a relaunch, in which case all your coins will likely be worthless. I hope that doesn't happen.”
(https://bitcointalk.org/index.php?topic=582080.msg6364242#msg6364242)
[smooth tries to justify his proposal to solve the emission curve issue: halve every current balance and change block target to 2 min with same block reward]
-16: “This coin wasn't working as advertised. It was supposed to be mined slowly like BTC but under the current emission schedule, 39% would be mined by the first year and 86% by the fourth year. Those targets have been moved out by a factor of 2, i.e. 86% mined by year 8, which is more like BTC's 75% by year 8. So the cap has been moved out much further into the future, constraining present and near-term supply, which is what determines the price.”
(https://bitcointalk.org/index.php?topic=582080.msg6364257#msg6364257)
[eizh supports smooth’s plan]
-20: “So long as the process is fair and transparent it makes no difference what the number is... n or n/2 is the same relative value so long as the /2 is applied to everyone. Correcting this now will avoid people accusing the coin of a favourable premine for people who mined in the first week.”
(https://bitcointalk.org/index.php?topic=582080.msg6364338#msg6364338)
[random user supporting smooth’s idea]
-21: “Why not a reduction in block reward of slightly more than half to bring it into line with the proposed graph? That would avoid all sorts of perceptual problems, would not upset present coin holders and be barely noticeable to future miners since less than one percent of coins have been mined so far, the alteration would be very small?”
(https://bitcointalk.org/index.php?topic=582080.msg6364348#msg6364348)
-22: “Because that still turns into a pre-mine or instamine where a few people got twice as many coins as everyone else in the first week.
This was always a bug, and should be treated as such.”
(https://bitcointalk.org/index.php?topic=582080.msg6364370#msg6364370)
[smooth wants to be sure they can’t be stigmatized as “premine”]
-23: “No, not true [answering to "it makes no difference what the number is... n or n/2 is the same relative value so long as the /2 is applied to everyone"]. Your share of the 18,000,000 coins is being halved - rightly or wrongly.”
(https://bitcointalk.org/index.php?topic=582080.msg6364382#msg6364382)
[good point made by a user that is battling “hard” with smooth and his proposal]
-28: “+1 for halving all coins in circulation. Would they completely disappear? What would the process be?”
-31: “I will wait for the next coin based on CryptoNote. Many people, including myself, avoided BMR because TFT released without accepting input from anyone (afaik). I pm'ed TFT 8 days before launch to help and didn't get response until after launch. Based on posting within the thread, I bet there were other people. Now the broken code gets "fixed" by taking away coins.”
(https://bitcointalk.org/index.php?topic=582080.msg6364531#msg6364531)
-32: “What you say is true, and I can't blame anyone from simply dropping this coin and wanting a complete fresh start instead. On the other hand, this coin is still gaining in popularity and is already getting close to bytecoin in hash rate, while avoiding its ninja premine. There is a lot done right here, and definitely a few mistakes.”
(https://bitcointalk.org/index.php?topic=582080.msg6364574#msg6364574)
[smooth stands for the project legitimacy despite the bugs]
-37: “Since everything is scaled and retroactive, the only person to be affected is... me. Tongue Because I bought BMR with BTC, priced it with incorrect information, and my share relative to the eventual maximum has been halved. Oh well. The rest merely mined coins that never should have been mined. The "taking away coins" isn't a symptom of the fix: it's the fundamental thing that needed fixing. The result is more egalitarian and follows the original intention. Software is always a work-in-progress. Waiting for something ideal at launch is pretty hopeless. edit: Let me point out that most top cryptocurrencies today were released before KGW and other new difficulty retargeting algorithms became widespread. Consequently they had massive instamines on the first day, even favorites in good standing like LTC. Here the early miners are voluntarily reducing their eventual stake for the sake of fairness. How cool is that?”
(https://bitcointalk.org/index.php?topic=582080.msg6364886#msg6364886)
[this is eizh supporting the project too]
-43: “I'm baffled that people are arguing about us making the emission schedule more fair. I'm an early adopter. This halves my money, and it's what I want to do. There's another change that needs to be talked about too: we don't believe that microscopic levels of inflation achieved at 9 or 10 years will secure a proof-of-work network. In fact, there's a vast amount of evidence from DogeCoin and InfiniteCoin that it will not. So, we'd like to fix reward when it goes between 0.25 - 1.00 coins. To do so, we need to further bitshift values to decrease the supply under 264-1 atomic units to accommodate this. Again, this hurts early adopters (like me), but is designed to ensure the correct operation of the chain in the long run. It's less than a week old, and if we're going to hardfork in economic changes that make sense we should do it now. We're real devs turning monero into the coin it should have been, and our active commitment should be nothing but good news. Fuck the pump and dumps, we're here to create something with value that people can use.”
(https://bitcointalk.org/index.php?topic=582080.msg6366134#msg6366134)
[tacotime brings to the public for first time the tail emission proposal and writes what is my favourite sentence of the whole monero history: “Fuck the pump and dumps, we're here to create something with value that people can use”]
-51: “I think this is the right attitude. Like you I stand to "lose" from this decision in having my early mining halved, but I welcome it. Given how scammy the average coin launch is, I think maximizing fairness for everyone is the right move. Combining a fair distribution with the innovation of Cryptonote tech could be what differentiates Monero from other coins.”
(https://bitcointalk.org/index.php?topic=582080.msg6366346#msg6366346)
-59: “Hello! It is very good that you've created this thread. I'm ok about renaming. But I can't agree with any protocol changes based only on decisions made by bitcointalk.org people. This is because not all miners are continiously reading forum. Any decision about protocol changes are to be made by hashpower-based voting. From my side I will agree on such a decision only if more than 50% of miners will agree. Without even such a simple majority from miners such changes are meaningless. In case of hardfork that isn't supported by majority of miners the network will split into two nets with low-power fork and high-power not-forking branches. I don't think that this will be good for anybody. Such a voting is easy to be implemented by setting minor_version of blocks to a specific value and counting decisions made after 1000 of blocks. Do you agree with such a procedure?”
(https://bitcointalk.org/index.php?topic=582080.msg6368478#msg6368478)
[TFT appears after a couple days of inactivity]
-63: “In few days I will publish a code with merged mining support. This code will be turned ON only by voting process from miners. What does it mean:
The same procedure is suitable for all other protocol changes.”
(https://bitcointalk.org/index.php?topic=582080.msg6368720#msg6368720)
[And now he is back, TFT is all about merged mining]
-67: “We don't agree that a reverse split amounts to "taking" coins. I also wouldn't agree that a regular forward split would be "giving" coins. It's an exchange of old coins with new coins, with very nearly the exact same value. There is a very slight difference in value due to the way the reward schedule is capped, but that won't be relevant for years or decades. Such a change is entirely reasonable to fix an error in a in coin that has only existed for a week.”
(https://bitcointalk.org/index.php?topic=582080.msg6368861#msg6368861)
-68: “There were no error made in this coin but now there is an initiative to make some changes. Changes are always bad and changes destroy participant confidence even in case these changes are looking as useful. We have to be very careful before making any changes in coins”
(https://bitcointalk.org/index.php?topic=582080.msg6368939#msg6368939)
[TFT does not accept the unexpected emission curve as a bug]
-72: “You are wrong TFT. The original announcement described the coin as having a reward curve "close to Bitcoin's original curve" (those are your exact words). The code as implemented has a reward curve that is nothing like bitcoin. It will be 86% mined in 4 years. It will be 98% mined in 8 years. Bitcoin is 50% mined in 4 years, and 75% in 8 years.
With respect TFT, you did the original fork, and you deserve credit for that. But this coin has now gone beyond your initial vision. It isn't just a question of whether miners are on bitcointalk or not.
There is a great team of people who are working hard to make this coin a success, and this team is collaborating regularly through forum posts, IRC, PM and email. And beyond that a community of users who by and large have been very supportive of the efforts we've taken to move this forward.
Also, miners aren't the only stakeholders, and while a miner voting process is great, it isn't the answer to every question. Though I do agree that miners need to be on board with any hard fork to avoid a harmful split.”
(https://bitcointalk.org/index.php?topic=582080.msg6369137#msg6369137)
[smooth breaks out publicily for first time against TFT]
-75: “I suppose that merged mining as a possible option is a good idea as soon as nobody is forced to use it. MM is a possibility to accept PoW calculated for some other network. It helps to increase a security of both networks and makes it possible for miners not to choose between two networks if they want both:
Important things to know about MM:
Actually the only change that goes with MM is that we are able to accept PoW from some other net with same hash-function. Each miner can decide his own other net he will merge mine BMR with.
And this is still very secure.
This way I don't see any disadvantage in merged mining. What disadvantages do you see in MM?”
(https://bitcointalk.org/index.php?topic=582080.msg6369255#msg6369255)
[TFT stands for merged mining]
-77: “Merged mining essentially forces people to merge both coins because that is the only economically rational decision. I do not want to support the ninja-premined coin with our hash rate.
Merged mining makes perfect sense for a coin with a very low hash rate, otherwise unable to secure itself effectively. That is the case with coins that merge mine with bitcoin. This coin already has 60% of the hash rate of bytecoin, and has no need to attach itself to another coin and encourage sharing of hash rate between the two. It stands well on its own and will likely eclipse bytecoin very soon.
I want people to make a clear choice between the fair launched coin and the ninja-premine that was already 80% mined before it was made public. Given such a choice I believe most will just choose this coin. Letting them choose both allows bytecoin to free ride on what we are doing here. Let the ninja-preminers go their own way.”
(https://bitcointalk.org/index.php?topic=582080.msg6369386#msg6369386)
[smooth again]
-85: “One of you is saying that there was no mistake in the emission formula, while the other is. I'm not asking which I should believe . . I'm asking for a way to verify this”
(https://bitcointalk.org/index.php?topic=582080.msg6369874#msg6369874)
[those that have not been paying attention to the soap opera since the beginning do not understand anything at all]
-86: “The quote I posted "close to Bitcoin's original curve" is from the original announcement here: https://bitcointalk.org/index.php?topic=563821.0
I think there was also some discussion on the thread about it being desirable to do that.
At one point in that discussion, I suggested increasing the denominator by a factor of 4, which is what ended up being done, but I also suggested retaining the block target at 2 minutes, which was not done. The effect of making one change without the other is to double the emission rate from something close to bitcoin to something much faster (see chart a few pages back on this thread).”
(https://bitcointalk.org/index.php?topic=582080.msg6369935#msg6369935)
[smooth answers just a few minutes later]
-92: “I'm happy the Bitmonero attracts so much interest.
I'm not happy that some people want to destroy it.
Here is a simple a clear statement about plans: https://bitcointalk.org/index.php?topic=582670
We have two kind of stakeholders we have respect: miders and coin owners.
Before any protocol changes we will ask miners for agreement. No changes without explicit agreement of miners is possible.
We will never take away or discount any coins that are already emitted. This is the way we respect coin owners.
All other issues can be discussed, proposed and voted for. I understand that there are other opinions. All decisions that aren't supported in this coin can be introduced in any new coin. It's ok to start a new fork. It's not ok to try to destroy an existsing network.”
(https://bitcointalk.org/index.php?topic=582080.msg6370324#msg6370324)
[TFT is kinda upset – he can see how the community is “somehow” taking over]
-94: “Sounds like there's probably going to be another fork then. Sigh.
I guess it will take a few tries to get this coin right.
The problem with not adjusting existing coins is that it make this a premine/instamine. If the emission schedule is changed but not as a bug fix, then earlier miners got an unfair advantage over everyone else. Certainly there are coins with premines and instamines, but there's a huge stigma and such a coin will never achieve the level of success we see for this coin. This was carefully discussed during the team meeting, which was announced a day ahead of time, and everyone with any visible involvement with the coin, you included, was invited. It is unfortunate you couldn't make it to that meeting TFT.”
(https://bitcointalk.org/index.php?topic=582080.msg6370411#msg6370411)
[smooth is desperate due to TFT lack of interest in collaboration, and he publicly speaks about an scission for first time]
-115: “Very rough website online, monero.cc (in case you asked, the domain name was voted on IRC, like the crypto name and its code). Webdesigner, webmaster, writers... wanted.”
(https://bitcointalk.org/index.php?topic=582080.msg6374702#msg6374702)
[Even though the lack of consensus and the obvious chaos, the community keeps going on: Monero already has his own site]
-152: “Here's one idea on fixing the emissions without adjusting coin balances.
We temporarily reduce the emission rate to half of the new target for as long as it takes for the total emission from 0 to match the new curve. Thus there will be a temporary period when mining is very slow, and during that period there was a premine.
But once that period is compete, from the perspective of new adopters, there was no premine -- the total amount of coins emitted is exactly what the slow curve says it should be (and the average rate since genesis is almost the same as the rate at which they are mining, for the first year or so at least).
This means the mining rewards will be very low for a while (if done now then roughly two weeks), and may not attract many new miners. However, I think there enough of us early adopters (and even some new adopters who are willing to make a temporary sacrifice) who want to see this coin succeed to carry it through this period.
The sooner this is done the shorter the catch up period needs to be.”
(https://bitcointalk.org/index.php?topic=582080.msg6378032#msg6378032)
[smooth makes a proposal to solve the “emission curve bug” without changing users balances and without favoring the early miners]
-182: “We have added a poll in the freenode IRC room "Poll #2: "Emission future of Monero, please vote!!" started by stickh3ad. Options: #1: "Keep emission like now"; #2: "Keep emission but change blocktime and final reward"; #3: "Keep emission but change blocktime"; #4: "Keep emission but change final reward"; #5: "Change emission"; #6: "Change emission and block time"; #7: "Change emission and block time and final reward"
Right now everyone is voting for #4, including me.”
(https://bitcointalk.org/index.php?topic=582080.msg6379518#msg6379518)
[tacotime announces an ongoing votation on IRC]
-184: “ change emission: need to bitshift old values on the network or double values after a certain block. controversial. not sure if necessary. can be difficult to implement. keep emission: straightforward, we don't keep change emission or block time. change final reward is simple. if (blockSubsidy < finalSubsidy) return finalSubsidy; else return blockSubsidy;”
(https://bitcointalk.org/index.php?topic=582080.msg6379562#msg6379562)
-188: “Yeah, well. We need to change the front page to reflect this if we can all agree on it.
We should post the emissions curve and the height and value that subsidy will be locked in to.
In my opinion this is the least disruptive thing we can do at the moment, and should ensure that the fork continues to be mineable and secure in about 8 years time without relying on fees to secure it (which I think you agree is a bad idea).”
(https://bitcointalk.org/index.php?topic=582080.msg6379871#msg6379871)
[tacotime]
-190: “I don't think the proposed reward curve is bad by any means. I do think it is bad to change the overall intent of a coin's structure and being close to bitcoins reward curve was a bit part of the intent of this coin. It was launched in response to the observation that bytecoin was 80% mined in less than two years (too fast) and also that it was ninja premined, with a stated goal that the new coin have a reward curve close to bitcoin.
At this point I'm pretty much willing to throw in the towel on this launch:
  1. No GUI
  2. No web site
  3. Botched reward curve (at least botched relative to stated intent)
  4. No pool (and people who are enthusiastically trying to mine having trouble getting any blocks; some of them have probably given up and moved on).
  5. No effective team behind it at launch
  6. No Mac binaries (I don't think this is all that big a deal, but its another nail)
I thought this could be fixed but with all the confusion and lack of clear direction or any consistent vision, now I'm not so sure.
I also believe that merged mining is basically a disaster for this coin, and is probably being quietly promoted by the ninjas holding 80% of bytecoin, because they know it keeps their coin from being left behind, and by virtue of first mover advantage, probably relegates any successors to effective irrelevance (like namecoin, etc.).
We can do better. It's probably time to just do better.”
(https://bitcointalk.org/index.php?topic=582080.msg6380065#msg6380065)
[smooth is disappointed]
-191: “The website does exist now, it's just not particularly informative yet. :) But, I agree that thankful_for_today has severely mislead everyone by stating the emission was "close to Bitcoin's" (if he's denying that /2 rather than /4 emission schedule was unintentional, as he seems to be). I'm also against BCN merge mining. It works against the goal of overtaking BCN and if that's not a goal, I don't know what we're even doing here. I'll dedicate my meagre mining to voting against that.
That said, you yourself have previously outlined why relaunches and further clones fail. I'd rather stick with this one and fix it.”
(https://bitcointalk.org/index.php?topic=582080.msg6380235#msg6380235)
[eizh tries to keep smooth on board]
-196: “BCN is still growing as well. It is up to 1.2 million now. If merged mining happens, (almost) everyone will just mine both. The difficulty on this coin will jump up to match BCN (in fact both will likely go higher since the hash rate will be combined) and again it is an instamine situation. (Those here the first week get the benefit of easy non-merged mining, everyone else does not.) Comments were made on this thread about this not being yet another pump-and-dump alt. I think that could have been the case, but sadly, I don't really believe that it is.”
(https://bitcointalk.org/index.php?topic=582080.msg6380778#msg6380778)
-198: “There's no point in fragmenting talent. If you don't think merge mining is a good idea, I'd prefer we just not add it to the code.
Bitcoin had no web site or GUI either initially. Bitcoin-QT was the third Bitcoin client.
If people want a pool, they can make one. There's no point in centralizing the network when it's just began, though. Surely you must feel this way.”
(https://bitcointalk.org/index.php?topic=582080.msg6381866#msg6381866)
[tacotime also wants smooth on board]
-201: “My personal opinion is that I will abandon the fork if merge mining is added. And then we can discuss a new fork. Until then I don't think Monero will be taken over by another fork.”
(https://bitcointalk.org/index.php?topic=582080.msg6381970#msg6381970)
[tacotime opens the season: if merged mining is implemented, he will leave the ship]
-203: “Ditto on this. If the intention wasn't to provide a clearweb launched alternative to BCN, then I don't see a reason for this fork to exist. BCN is competition and miners should make a choice.”
(https://bitcointalk.org/index.php?topic=582080.msg6382097#msg6382097)
[eizh supports tacotime]
-204: “+1 Even at the expense of how much I already "invested" in this coin.”
(https://bitcointalk.org/index.php?topic=582080.msg6382177#msg6382177)
[NoodleDoodle is also against merged mining]
This is basically everything worth reading in this thread. This thread was created in the wrong category, and its short life of about 2 days was pretty interesting. Merged mining was rejected and it ended up with the inactivity of TFT for +7 days and the creation of a new github repo the 30th of April. It is only 12 days since launch and a decentralized team is being built.
Basically the community had forked (but not the chain) and it was evolving and moving forward to its still unclear future.
These are the main takeaways of this thread:
  • The legitimacy of the "leaders" of the community is proven when they proposed and supported the idea of halving the balances for the greater good to solve the emission curve issue without any possible instamine accusation. Also their long-term goals and values rejecting merged-mining with a "primined scam"
  • It is decided that, as for now, it is “too late” to change the emission curve, and finally monero will mint 50% of its coin in ~1.3 years (bitcoin did it after 3.66 years) and 86% of its coins in 4 years (bitcoin does it in ~11 years) (was also voted here) (see also this chart)
  • It is decided that a “minimum subsidy” or “tail emission” to incentivize miners “forever” and avoid scaling fees will be added (it will be finally added to the code march 2015)
  • Merged mining is plainly rejected by the future “core team” and soon rejected by "everyone". This will trigger TFT inactivity.
  • The future “core team” is somehow being formed in a decentralized way: tacotime, eizh, NoodleDoodle, smooth and many others
And the most important. All this (and what is coming soon) is a proof of the decentralization of Monero. Probably comparable to Bitcoin first days. This is not a company building a for-profit project (even if on the paper it is not for-profit), this a group of disconnected individuals sharing a goal and working together to reach it.
Soon will be following a final part where i'll collect the bitcointalk logs in the current official announcement threads. There you'll be able to follow the decentralized first steps of develoment (open source pool, miner optimizations and exchanges, all surrounded by fud trolls, lots of excitmen and a rapidly growing collaborative community.
submitted by el_hispano to Monero [link] [comments]

Guide For New Shibes

So it has become apparent to me from the constant questions on this subreddit that a lot of new miners/shibes need help, so I have decided to make a basic guide to most of the questions I see a lot here.
1) BTC - This means Bitcoin so If you see a miner that says BTC it does not work with dogecoin because dogecoin is Scrypt.
2) Scrypt - This is what dogecoin runs off of, or what your computeasic/gpu solves to support the network.
3) Asic - This stands for an application-specific integrated circuit, or in less confusing terms a miner dedicated completely to mining a particular type of coin such as dogecoin.
4) GPU Mining - Using a graphics card to mine crypto currencies.
5) CPU Mining - A slow and inefficient way of using your computers Central Processing Unit to mine crypto currencies.
6) Hash Rate - The rate at which you mine a crypto currency. The higher the better.
7) KH - This Means Kilo Hashes. 1KH = 1,000 Hashes a Second
8) MH - This Means Mega Hash - 1 MH = 1,000,000 hashes a second.
9) Should I buy an asic? - If you want to support the network yes. If you want to solely make money off of it No. Buy the coin if you want to make profit. This is my opinion, there is no one answer to this question.
10) Mining Pool - Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out smoothly over time.
Tl/DR You Work with other miners to solve stuff faster making you money faster.
11) Mining Difficulty - How hard it is to solve the problems to generate dogecoin.
12) Do I need a fan? - Yes I cannot stress how important it is to properly cool your units. Make sure your units are always cool or else they might melt. Do not think you are safe just because you turn your ac up, but a fan.
13) What Mining Pool Should I Pick? - Here is a list of all of the pools Pick one that works for you.
14) What is a wallet? - This is where you store your dogecoin and where you can send and receive dogecoin.
15) What Wallet Should I get? - Online is convenient but not safe. Paper Is the Safest But Not convenient. Cold Storage is the mostly safe and somewhat convenient.
16) What is cold storage? - Basically putting your wallet on an offline device like a usb.
17) Can I mine on a mac? - Yes look here for more info.
18) Cloud Mining - A service you buy that mines for you. you pay for a certain amount of hashes, lets just say 10gh for an example, and the company/service mines you this amount for the time you bought. It is not profitable usually.
19) What Is a Raspberry Pi? - A small cheap computer that people use to run their miners on.
20) Watts - The measure of electricity.
21) Should I pre-order? No Never F%&$ing pre order, you will get scammed 99.9999% of the time.
22) Can I still mine? - Yes, you probably wont make money but you will support the doge community.
23) Linux - An operating system like windows that people use to run mining programs on.
24) If you Have an animal make sure to properly protect your mining rig from them. Wires from the machines make great chew toys.
25) How Do I calculate if im going to make money with my mining rig? - Use This mining Calculator This is also a very good calculator
26 What Mining Program Should I use? Windows: CG MINER Mac: Astroid Linux: CG Miner again
Goodluck mining I hope this helps. This Also Took A long time to make so support would be appreciated :)
submitted by sircam22 to dogemining [link] [comments]

【ONE.TOP Rating】NuCypher: the guardian of blockchain data

【ONE.TOP Rating】NuCypher: the guardian of blockchain data

I. Project Introduction


NuCypher is the data privacy protocol layer of public blockchains and DApp. This project uses proxy re-encryption and blockchain technology to provide distributed key management and encrypted access control service, thus offering DApp and its developers the method to store, share and manage the private data on public blockchain in security.

II. Project Evaluation


1. Market analysis ,Total scores 0.7 ,Scoring 0.56

1.1 Market Profile

In recent years, the damage caused by various network threats is worsening, driving the growing needs of information security products and services. The key is the last barrier to protect information safety, so the key management service (KMS) is essential to blockchain industry. Traditional centralized KMS service providers are: Amazon Cloud HSM, Google Cloud KMS, Microsoft Azure Key Vault and True Vault etc. Inappropriate trust level needs to be set up to these centralized service providers while using their services. This may not be appropriate to safety-critical application and is vulnerable to nodes attacks. Unencrypted symmetric key will never be exposed to server as using proxy re-encryption technology. Even it is hacked, hackers can only get re-encrypted key, which also protects file access indeed. The emergence of NuCypher KMS provided a solution without trust required. This feature has huge potential for the internet environment market with frequent occurrence of security issues.

According to the score logic of model algorithm: very small market 0-2 (below 1 billion), small market (at 1 billion), medium market 5-6 (10 billion), big market 7-8 (100 billion), very big market 9-10 (above 1 trillion), this scores 8.

1.2 Competition Situation

There are mainly two kinds of competitive projects of NuCypher KMS:
  1. Centralized system with re-encrypted technology adopted already, such as AWS CloudHSM, Azure key vault and Hashicorp vault etc.
  2. In the decentralization project for privacy solution, Keep Network provides users (mainly smart contracts) security path for privacy exchanges, transmission, calculation and storage by means of off-chain private data container.
Both Keep Network and Enigma use secure multi-party computation (MPC) to achieve similar information security, therefore, there is no blockchain project of the same kind using proxy re-encrypted technology to solve the problem of encryption communication.
According to the score logic of model algorithm: very high level of competition 0-2, high level of competition 3-4, medium level of competition 5-6, low level of competition 7-8, very low level of competition 9-10, this scores 9.

1.3 Risk Evaluation

1.3.1 Competitive Risk

The importance and urgency of information security made higher profit margin, thus much of the capital were distributed in this field. Giant companies, includes Google, Microsoft and Amazon etc. have made distribution in the field in advance and they are unlikely to give up their own-earned benefits. Information security field is capital and technology-intensive industry, where major companies have incomparable advantages as intensively cultivating. This is a challenge for NuCypher's early start.

1.3.2 Technical Risk

Since blockchains technology is developing continuously and cryptology is in continuous evolution, R&D team cannot guarantee the absolute safety at any time. The platform is vulnerable to cyber attacks which causes all digital currency to be stolen, lost, disappeared, destructed or devaluation.

1.3.3 ICO's Unknown Risks

Since there are no any details about ICO published so far, NuCypher is exposed to the risk on this point. For example, in the event of excessive amount raised, NuCypher will be discounted in terms of investment value. After all, NUCypher is protocol type project, with reasonable fund raising ranging from U.S.D 20 million to U.S.D 50 million.

According to the score logic of model algorithm: very high risk 0-2, high risk 3-4, medium risk 5-6, low risk 7-8, very low risk 9-10, this scores 5.

2. Token Status ,Total scores 0.8 , Scoring 0.16

【Token name】: NKMS
【Total tokens 】: TBA
【Crowdfunding amount】: TBA
【Receiving tokens】: ETH
【Pre-sale time】: TBA
【Public offering time】: start public crowd funding after main network is on-line
【Whitelist】: join telegram, subscribe to mailing.
【KYC/AML】:Investors will be identified in accordance with the time sequences of joining the official telegraph group and mailing list.
【Whether to lock】:TBA
【Distribution of tokens】: Pre-allocation pool with small proportion (cooperative partners' pre-allocation tokens for the commitment of long running one or more nodes), the specific proportion is to be disclosed.
Token distribution mechanism, lock up status by team and fund utilizing have not been released.

According to the score logic of model algorithm: very small reasonable degree of token mechanism 0-2, small reasonable degree of token mechanism 3-4, medium reasonable degree of token mechanism 5-6, greater reasonable degree of token mechanism 7-8, greatest reasonable degree of token mechanism 9-10, this scores 2.

3. Technology Analysis,Total scores 1.5 ,Scoring 1.2

3.1 Technology Highlight Total scores 1 Scoring 0.8

3.1.1 Proxy Re-encrypted Technology

The important core technology about NuCypher is proxy re-encrypted technology, which can achieve private information sharing in way of asymmetric encryption by the third party. This brings two direct benefits: 1. The difficulty of encryption is strong enough, the sharing process of this private data can be secure enough as long as the third-party agent is out of trouble; 2. Users can control whether to share their own data by means of authorization, which increases the flexibility of data access.

3.1.2 Mechanism Design in Security

In NuCypher design mechanism, all processes of re-encryption and decryption shall be implemented by miners, so it appears to be of essence on how to select reliable miners and ensure key security. For this purpose, NuCypher designed a series mechanisms to prevent miners from cheating and to protect the safety of encryption mode, it is generally to increase the cost of cheating to miners.

Collateral Mechanism of POS Algorithm:

NuCypher adopted the consensus algorithm of POS. POS has obvious benefit that the enough tokens must be put in nodes as collateral, thus to operate the mining of encryption and decryption as well as to be rewarded correspondingly. With the collateral, miners will pay the price and costs if cheat. This is the most direct and effective restriction mechanism.

Pseudo Anonymous Mechanism:

In the whole process of encryption and decryption, the system deals with anonymous for all re-encrypted keys. This is for concealing what on earth is encrypted and whether it is worth anything during the operation by miners. This prevents some restless nodes from cheating with other nodes due to the combination of benefits. It is very essential to the security of system.

Segmentation of Key Proxy:

If a certain node is not encrypted based on set strategy and need enciphered data again immediately. In that case then, there is a risk of cheating by miner because you do not know what on earth is happening. Therefore, NuCypher came up with the segmentation of key proxy. To put it simply, one task is split to different miners and data readers, and they shall cooperate with each other to complete the task.

3.1.3 Incentive System of Self-censorship

NuCypher designed a sort of mechanism similar to sting operation, called the rule of challenge protocol. If the system send the "false" data to miner for encrypted on purpose, and miner disclose the "false" data, then miner will be proved cheating on one hand, meanwhile, no user will suffer the loss on the other hand, as this is false data. Most of all, anyone in the network may act as this challenger under sting operation. Once you doubt that miner is cheating and you succeed in the challenge, you will get collateral tokens by miner as a reward.

3.1.4 Incentive System of Self-censorship

NuCypher's another interesting property is that its security will be improved with the increasing number of participants in network. It achieved the same result by different methods as Zilliqa is getting faster with the increasing number of miners. As the security risk of whole network comes from the possibility of node cheating, then the more participants on network, the less the risk of conspiracy cheating by nodes. Enough nodes may significantly improve the security and censorship-resistance in the system. Meanwhile, the existence of challenge protocol as the self-censorship mechanism also would increase the number of supervisors as participants grow in number.

3.2 Code Updates
https://preview.redd.it/0sfburb670j11.png?width=1183&format=png&auto=webp&s=a1042a00f538146bfdf2a448896561bcaf20f682
Github is the most visited web with the most active base of "nucypher", which checked in code for 1618 times in total, including 5 branches in 2 versions. 5 participants in development, 26 times diverge, 1 follower, 1 collector, 19452 times taken as reference. As you can see from the code update on Github, the overall update frequency and extent is in medium level, the fundamental framework and core function are still being developed. However, we need to be clear that NuCypher is not the underlying public blockchain but protocol layer. So the lack in the progress of development and frequency is acceptable.

According to the score logic of model algorithm: unpublished code 0-4, code in medium condition 5-6, code in good condition 7-8, code in best condition 9-10, this scores 7.

3.3 Development Difficulty

NuCypher was not developed on new blockchains but based on Ethereum, and it can be used by DApp from other blockchains. In addition, in order to ensure NuCypher to most remain unaffected by the performance bottleneck of Ethereum, NuCypher KMS will not interacted with underlying blockchains unless data owner start new access strategy. It is critical that the project take the semi-credible centralizing surrogate from fully credible re-encrypted technology of blockchains, thus greatly improving the security and reliability of the system.

NuCypher technology uses the project ZeroDB of open source end-to-end encrypted database as reference, with being fully verified on technology, and it is comparatively mature technology. The control service of cloud data access provided to enterprises have applied DEMO (non-blockchains products), while NuCypher has issued threshold proxy re-encrypted version Umbral, which has been verified to re-encrypt through a set of nodes to ensure the security of key segmentation mechanism. In addition, the test network of this project will pop up online in several weeks, so it could be concluded that this project is at high maturity level of technology with less difficulty on development.

In respect of project operation, there is broad market space for KMS on big data, Internet and blockchains, along with much of application context. Furthermore, the major cost is the development costs in early stage, the maintenance costs in later stage is relatively less.

According to the score logic of model algorithm: development with very high difficulty 0-2, development with higher difficulty 3-4, development with medium difficulty 5-6, development with less difficulty 7-8, development with very less difficulty 9-10, this scores 7.

4. Project Status ,Total scores 0.5,Scoring 0.25

NuCypher team seed round (PE): Total U.S.D 750,000 was raised on August 9, 2016, with investors as following: Ycombinator, Mission and Market, Fusion Fund and Base Ventures.

Token in pre-sales phase: total U.S.D 4.4 million was raised on December 12, 2017. Lead investors: Polychain Capital, Semantic Ventures.

Although the project initiator has started development in 2015, NuCypher have not announced specific ICO date, the overall progress is slow. But NuCypher's cooperating party has nearly 11 projects, related fields covering decentralized data base, medical field, Internet of Things and digital assets etc., including popular projects such as Bluzelle, Origin Protocol and other recent popular items. NuCypher has high level of recognition and advantage on technical practicability and ecological construction.

According to the score logic of model algorithm: very low degree of achievement 0-2, lower degree of achievement 3-4, medium degree of achievement 5-6, higher degree of achievement 7-8, very high degree of achievement 9-10, this scores 5.

5. Team Member Total ,scores 1.5 ,Scoring 1.05

5.1 Founding Team

MacLane Wilkison Co-Founder and CEO
As the software engineer and the former investment banker of Morgan Stanley, he provided M&A and financing services to science-and-technology, media and telecommunication enterprises in his career of transnational financial service, with having the certificates of CISSP, CFA and FRM.

Michael Egorov Co-founder and CTO
He is the physicist and scientist of Moscow Institute of Physics and Technology, with having the PhD degree of philosophy and physics. Bronze medalist of International Physics Olympiad (IPhO) in 2003. Held the post of senior engineer in LinkedIn, as well as the advisor of Bluzelle and Datum from 2014 to 2015, with 5 years’ experience as a software engineer.
David Núñez, PhD (Cryptograpther)
Dr. Núñez is the expert in proxy re-encryption. Before joining NuCypher in full-time position, he was the postdoctoral researcher in NICS Laboratory. NICS laboratory, which is staffed by 20 researchers, was established by University of Malaga, focusing on studying in security field.

The founder has the certification of CISSP, which is the most authoritative, professional and systematic information assurance certification in the world. He is the CTO with having 5 years of experience as a software engineer. Dr. DavidNúñez is the expert in cryptography and the core team member, who is excellent both in professional and working experience. Although the core team of this project is arranged with clear division and records, most of team members are technical developers. It hasn’t seen any promotion staff working in this team and the telegram is mainly operated by CEO and CTO, which is not good for project running.

5.2 Advisors
https://preview.redd.it/nyqp3hrs70j11.png?width=556&format=png&auto=webp&s=e3e701b614c9eace8bd0133fdbf85b7f4637b642
Dave is the professor of security computing research group. Giuseppe is the expert in proxy re-encrypted technology, which is the technology adopted in NuCypher. John is serial entrepreneur with having thirty years of experience in managing high-growth software company. Tony is the vice-president of Equinix, the author of data center in next generation and the former director in the Global Data Center of Morgan Stanley. The advisors of this project have the strength to offer sufficient counseling and guidance on encryption and management.

As the project ZeroDB is undertaken by this same team, so this team has got plenty practice on data encrypted and proxy re-encrypted development, laying the solid foundation for project completion.

According to the score logic of model algorithm: very weak team strength 0-2, weak team strength 3-4, medium team strength 5-6, strong team strength 7-8, very strong team strength 9-10, this scores 9.

6. Institutional Investors ,Total scores 1.5, Scoring 1.2

6.1 Partners

Bluzelle (decentration database), Origin Protocol (sharing economy protocol), Datum (data market), Fluence (decentration database), Wolk (decentration database), IRYO (medical treatment), Wholesome.io (medical treatment), Medixain (medical treatment), Spherity (Internet of Things), Coval Emblem Vault (digital assets), ZeroDB

Of which, Bluzelle is planning to take NuCypher as its access control, and NuCypher's CTO is one of technical advisors of Bluzelle. While ZeroDB (https://github.com/zerodb) is the project of open source end-to-end encrypted database. NuCypher was established after the further development of the key technologies in the project. Both came from the same company and share the same development team and website.

There are many partners. NuCypher, with independent ecological system, has partners from many encrypted technology fields including decentralized database, data market, sharing economy protocol, medical treatment, Internet of Things and digital assets etc., and has developed its own ecological system.

6.2 Investors
https://preview.redd.it/mfqdkisxa0j11.png?width=1768&format=png&auto=webp&s=cb2fdf0c23a06f293cadaa46d3cc9a7b3f5c825a

It is thus clear that many institutional investors of blockchains are in favor of this project, especially Kenetic Capital and HASHED, who have gotten recognition and influence in token field. Kenetic Capital had invested ETH and bitcoin etc. well-known projects, HASHED had invested EOS and keyber network etc. The fact that these well-known institutions joined the investment is the largest confirmation to project initiator.

According to the score logic of model algorithm: very weak strength of institution 0-2, weak strength of institution 3-4, medium strength of institution 5-6, strong strength of institution 7-8, very strong strength of institution 9-10, this scores 9.

7. Drawing Attention,Total scores 1.0, Scoring 0.3

We collected some data from social platform and the results are as follows:

https://preview.redd.it/1n8przaq80j11.png?width=690&format=png&auto=webp&s=942bb0971d5fb36d09129098c917f58ca7e2f777

According to the score logic of model algorithm: very low level of activity 0-2, low level of activity 3-4, medium level of activity 5-6, high level of activity 7-8, very high level of activity 9-10, this scores 3.

8. Rating Info ,Total scores 1.0, Scoring 0.8

We collected the scores to Nucypher from the following four rating agencies. The average score is 8.425 after converted to a decimal system.

https://preview.redd.it/nnmr201ha0j11.png?width=606&format=png&auto=webp&s=c16cdf9994a021b3ddd41ea3324a741075c155bf

According to the score logic of model algorithm: very low score 0-2, low score 3-4, medium score 5-6, high score 7-8, very high score 9-10, this scores 8.

9. Social Response,Total scores 2.0,Scoring 1.4

Scoring 1.8 As a protocol layer to data protection, NuCypher KMS has good prospects and advantages on both directivity and technology implementation, it is very nice.
Scoring 2.6 The project team is technical-weighted as a whole. It hasn’t seen any promotion staff working in this team and the telegram is mainly operated by CEO and CTO, which is not good for project running.

Scoring 3.7 There are many partners. NuCypher, with independent ecological system, has partners from many encrypted technology fields including decentralized database, data market, sharing economy protocol, medical treatment, Internet of Things and digital assets etc.

Scoring 4.5 The technology of blockchains is still immature. The critical point of project completion is to get consensus. This project is low at the level of community activity.
Scoring 5.7 The development idea of technology was clear. Open-source technology was implemented in mid-late period and adopted innovative mixing techniques to realize chain cross.

Scoring 6.5 Based on EOS.IO structure, pop up from the main net of EOS, and verified a certain risk existed before getting excellent performance.

Scoring 7.6 Although the market space is big, BAT and Google etc. magnates enter market in case, the market space will be squeezed.

Scoring 8.5 The project is still in initiating stage and token have not been launched.

Scoring 9.9 It has advantage of backwardness, move innovative technology as compared to other competitive products.

Scoring 10.8 The R&D of blockchains is strong, deep in technology accumulation. Technical staff are good in experience background.

III. Review Summary

As a protocol layer to data protection, NuCypher KMS has good prospects and advantages on both directivity and technology implementation. Team, application context, the progress of development and mechanism design all made this project mature. In terms of investment value and commercial value, it is worthy of investing. However, its ICO scheme was slow to announce and it shall be aware of unknown risks, such as unreasonable ICO scheme due to immoderate financing.

This project has fewer competitors in the circumstance. It has strong technological strength and was invested by well-known institutions, worth looking forward to the prospect.
https://preview.redd.it/4ospza6ma0j11.png?width=541&format=png&auto=webp&s=9202f54c4993ab8546cc15045867169ac3b3cab1

submitted by ONETOPGlobal to u/ONETOPGlobal [link] [comments]

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