Satoshi One (SATO) Mining Calculator & Information ...

Primecoin

Primecoin is an innovative cryptocurrency, a form of digital currency secured by cryptography and issued through a decentralized mining market. Derived from Satoshi Nakamoto's Bitcoin, Primecoin introduces an unique form of proof-of-work based on searching for prime numbers.
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Litecoin mining!

Since the litecoin community is growing, I've decided to introduce /litecoinmining, a place for all discussion revolving mining litecoins!
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How To End The Cryptocurrency Exchange "Wild West" Without Crippling Innovation


In case you haven't noticed the consultation paper, staff notice, and report on Quadriga, regulators are now clamping down on Canadian cryptocurrency exchanges. The OSC and other regulatory bodies are still interested in industry feedback. They have not put forward any official regulation yet. Below are some ideas/insights and a proposed framework.



Many of you have limited time to read the full proposal, so here are the highlights:

Offline Multi-Signature

Effective standards to prevent both internal and external theft. Exchange operators are trained and certified, and have a legal responsibility to users.

Regular Transparent Audits

Provides visibility to Canadians that their funds are fully backed on the exchange, while protecting privacy and sensitive platform information.

Insurance Requirements

Establishment of basic insurance standards/strategy, to expand over time. Removing risk to exchange users of any hot wallet theft.


Background and Justifications


Cold Storage Custody/Management
After reviewing close to 100 cases, all thefts tend to break down into more or less the same set of problems:
• Funds stored online or in a smart contract,
• Access controlled by one person or one system,
• 51% attacks (rare),
• Funds sent to the wrong address (also rare), or
• Some combination of the above.
For the first two cases, practical solutions exist and are widely implemented on exchanges already. Offline multi-signature solutions are already industry standard. No cases studied found an external theft or exit scam involving an offline multi-signature wallet implementation. Security can be further improved through minimum numbers of signatories, background checks, providing autonomy and legal protections to each signatory, establishing best practices, and a training/certification program.
The last two transaction risks occur more rarely, and have never resulted in a loss affecting the actual users of the exchange. In all cases to date where operators made the mistake, they've been fully covered by the exchange platforms.
• 51% attacks generally only occur on blockchains with less security. The most prominent cases have been Bitcoin Gold and Ethereum Classic. The simple solution is to enforce deposit limits and block delays such that a 51% attack is not cost-effective.
• The risk of transactions to incorrect addresses can be eliminated by a simple test transaction policy on large transactions. By sending a small amount of funds prior to any large withdrawals/transfers as a standard practice, the accuracy of the wallet address can be validated.
The proposal covers all loss cases and goes beyond, while avoiding significant additional costs, risks, and limitations which may be associated with other frameworks like SOC II.

On The Subject of Third Party Custodians
Many Canadian platforms are currently experimenting with third party custody. From the standpoint of the exchange operator, they can liberate themselves from some responsibility of custody, passing that off to someone else. For regulators, it puts crypto in similar categorization to oil, gold, and other commodities, with some common standards. Platform users would likely feel greater confidence if the custodian was a brand they recognized. If the custodian was knowledgeable and had a decent team that employed multi-sig, they could keep assets safe from internal theft. With the right protections in place, this could be a great solution for many exchanges, particularly those that lack the relevant experience or human resources for their own custody systems.
However, this system is vulnerable to anyone able to impersonate the exchange operators. You may have a situation where different employees who don't know each other that well are interacting between different companies (both the custodian and all their customers which presumably isn't just one exchange). A case study of what can go wrong in this type of environment might be Bitpay, where the CEO was tricked out of 5000 bitcoins over 3 separate payments by a series of emails sent legitimately from a breached computer of another company CEO. It's also still vulnerable to the platform being compromised, as in the really large $70M Bitfinex hack, where the third party Bitgo held one key in a multi-sig wallet. The hacker simply authorized the withdrawal using the same credentials as Bitfinex (requesting Bitgo to sign multiple withdrawal transactions). This succeeded even with the use of multi-sig and two heavily security-focused companies, due to the lack of human oversight (basically, hot wallet). Of course, you can learn from these cases and improve the security, but so can hackers improve their deception and at the end of the day, both of these would have been stopped by the much simpler solution of a qualified team who knew each other and employed multi-sig with properly protected keys. It's pretty hard to beat a human being who knows the business and the typical customer behaviour (or even knows their customers personally) at spotting fraud, and the proposed multi-sig means any hacker has to get through the scrutiny of 3 (or more) separate people, all of whom would have proper training including historical case studies.
There are strong arguments both for and against using use of third party custodians. The proposal sets mandatory minimum custody standards would apply regardless if the cold wallet signatories are exchange operators, independent custodians, or a mix of both.

On The Subject Of Insurance
ShakePay has taken the first steps into this new realm (congratulations). There is no question that crypto users could be better protected by the right insurance policies, and it certainly feels better to transact with insured platforms. The steps required to obtain insurance generally place attention in valuable security areas, and in this case included a review from CipherTrace. One of the key solutions in traditional finance comes from insurance from entities such as the CDIC.
However, historically, there wasn't found any actual insurance payout to any cryptocurrency exchange, and there are notable cases where insurance has not paid. With Bitpay, for example, the insurance agent refused because the issue happened to the third party CEO's computer instead of anything to do with Bitpay itself. With the Youbit exchange in South Korea, their insurance claim was denied, and the exchange ultimately ended up instead going bankrupt with all user's funds lost. To quote Matt Johnson in the original Lloyd's article: “You can create an insurance policy that protects no one – you know there are so many caveats to the policy that it’s not super protective.”
ShakePay's insurance was only reported to cover their cold storage, and “physical theft of the media where the private keys are held”. Physical theft has never, in the history of cryptocurrency exchange cases reviewed, been reported as the cause of loss. From the limited information of the article, ShakePay made it clear their funds are in the hands of a single US custodian, and at least part of their security strategy is to "decline[] to confirm the custodian’s name on the record". While this prevents scrutiny of the custodian, it's pretty silly to speculate that a reasonably competent hacking group couldn't determine who the custodian is. A far more common infiltration strategy historically would be social engineering, which has succeeded repeatedly. A hacker could trick their way into ShakePay's systems and request a fraudulent withdrawal, impersonate ShakePay and request the custodian to move funds, or socially engineer their way into the custodian to initiate the withdrawal of multiple accounts (a payout much larger than ShakePay) exploiting the standard procedures (for example, fraudulently initiating or override the wallet addresses of a real transfer). In each case, nothing was physically stolen and the loss is therefore not covered by insurance.
In order for any insurance to be effective, clear policies have to be established about what needs to be covered. Anything short of that gives Canadians false confidence that they are protected when they aren't in any meaningful way. At this time, the third party insurance market does not appear to provide adequate options or coverage, and effort is necessary to standardize custody standards, which is a likely first step in ultimately setting up an insurance framework.
A better solution compared to third party insurance providers might be for Canadian exchange operators to create their own collective insurance fund, or a specific federal organization similar to the CDIC. Such an organization would have a greater interest or obligation in paying out actual cases, and that would be it's purpose rather than maximizing it's own profit. This would be similar to the SAFU which Binance has launched, except it would cover multiple exchanges. There is little question whether the SAFU would pay out given a breach of Binance, and a similar argument could be made for a insurance fund managed by a collective of exchange operators or a government organization. While a third party insurance provider has the strong market incentive to provide the absolute minimum coverage and no market incentive to payout, an entity managed by exchange operators would have incentive to protect the reputation of exchange operators/the industry, and the government should have the interest of protecting Canadians.

On The Subject of Fractional Reserve
There is a long history of fractional reserve failures, from the first banks in ancient times, through the great depression (where hundreds of fractional reserve banks failed), right through to the 2008 banking collapse referenced in the first bitcoin block. The fractional reserve system allows banks to multiply the money supply far beyond the actual cash (or other assets) in existence, backed only by a system of debt obligations of others. Safely supporting a fractional reserve system is a topic of far greater complexity than can be addressed by a simple policy, and when it comes to cryptocurrency, there is presently no entity reasonably able to bail anyone out in the event of failure. Therefore, this framework is addressed around entities that aim to maintain 100% backing of funds.
There may be some firms that desire but have failed to maintain 100% backing. In this case, there are multiple solutions, including outside investment, merging with other exchanges, or enforcing a gradual restoration plan. All of these solutions are typically far better than shutting down the exchange, and there are multiple cases where they've been used successfully in the past.

Proof of Reserves/Transparency/Accountability
Canadians need to have visibility into the backing on an ongoing basis.
The best solution for crypto-assets is a Proof of Reserve. Such ideas go back all the way to 2013, before even Mt. Gox. However, no Canadian exchange has yet implemented such a system, and only a few international exchanges (CoinFloor in the UK being an example) have. Many firms like Kraken, BitBuy, and now ShakePay use the Proof of Reserve term to refer to lesser proofs which do not actually cryptographically prove the full backing of all user assets on the blockchain. In order for a Proof of Reserve to be effective, it must actually be a complete proof, and it needs to be understood by the public that is expected to use it. Many firms have expressed reservations about the level of transparency required in a complete Proof of Reserve (for example Kraken here). While a complete Proof of Reserves should be encouraged, and there are some solutions in the works (ie TxQuick), this is unlikely to be suitable universally for all exchange operators and users.
Given the limitations, and that firms also manage fiat assets, a more traditional audit process makes more sense. Some Canadian exchanges (CoinSquare, CoinBerry) have already subjected themselves to annual audits. However, these results are not presently shared publicly, and there is no guarantee over the process including all user assets or the integrity and independence of the auditor. The auditor has been typically not known, and in some cases, the identity of the auditor is protected by a NDA. Only in one case (BitBuy) was an actual report generated and publicly shared. There has been no attempt made to validate that user accounts provided during these audits have been complete or accurate. A fraudulent fractional exchange, or one which had suffered a breach they were unwilling to publicly accept (see CoinBene), could easily maintain a second set of books for auditors or simply exclude key accounts to pass an individual audit.
The proposed solution would see a reporting standard which includes at a minimum - percentage of backing for each asset relative to account balances and the nature of how those assets are stored, with ownership proven by the auditor. The auditor would also publicly provide a "hash list", which they independently generate from the accounts provided by the exchange. Every exchange user can then check their information against this public "hash list". A hash is a one-way form of encryption, which fully protects the private information, yet allows anyone who knows that information already to validate that it was included. Less experienced users can take advantage of public tools to calculate the hash from their information (provided by the exchange), and thus have certainty that the auditor received their full balance information. Easy instructions can be provided.
Auditors should be impartial, their identities and process public, and they should be rotated so that the same auditor is never used twice in a row. Balancing the cost of auditing against the needs for regular updates, a 6 month cycle likely makes the most sense.

Hot Wallet Management
The best solution for hot wallets is not to use them. CoinBerry reportedly uses multi-sig on all withdrawals, and Bitmex is an international example known for their structure devoid of hot wallets.
However, many platforms and customers desire fast withdrawal processes, and human validation has a cost of time and delay in this process.
A model of self-insurance or separate funds for hot wallets may be used in these cases. Under this model, a platform still has 100% of their client balance in cold storage and holds additional funds in hot wallets for quick withdrawal. Thus, the risk of those hot wallets is 100% on exchange operators and not affecting the exchange users. Since most platforms typically only have 1%-5% in hot wallets at any given time, it shouldn't be unreasonable to build/maintain these additional reserves over time using exchange fees or additional investment. Larger withdrawals would still be handled at regular intervals from the cold storage.
Hot wallet risks have historically posed a large risk and there is no established standard to guarantee secure hot wallets. When the government of South Korea dispatched security inspections to multiple exchanges, the results were still that 3 of them got hacked after the inspections. If standards develop such that an organization in the market is willing to insure the hot wallets, this could provide an acceptable alternative. Another option may be for multiple exchange operators to pool funds aside for a hot wallet insurance fund. Comprehensive coverage standards must be established and maintained for all hot wallet balances to make sure Canadians are adequately protected.

Current Draft Proposal

(1) Proper multi-signature cold wallet storage.
(a) Each private key is the personal and legal responsibility of one person - the “signatory”. Signatories have special rights and responsibilities to protect user assets. Signatories are trained and certified through a course covering (1) past hacking and fraud cases, (2) proper and secure key generation, and (3) proper safekeeping of private keys. All private keys must be generated and stored 100% offline by the signatory. If even one private keys is ever breached or suspected to be breached, the wallet must be regenerated and all funds relocated to a new wallet.
(b) All signatories must be separate background-checked individuals free of past criminal conviction. Canadians should have a right to know who holds their funds. All signing of transactions must take place with all signatories on Canadian soil or on the soil of a country with a solid legal system which agrees to uphold and support these rules (from an established white-list of countries which expands over time).
(c) 3-5 independent signatures are required for any withdrawal. There must be 1-3 spare signatories, and a maximum of 7 total signatories. The following are all valid combinations: 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.
(d) A security audit should be conducted to validate the cold wallet is set up correctly and provide any additional pertinent information. The primary purpose is to ensure that all signatories are acting independently and using best practices for private key storage. A report summarizing all steps taken and who did the audit will be made public. Canadians must be able to validate the right measures are in place to protect their funds.
(e) There is a simple approval process if signatories wish to visit any country outside Canada, with a potential whitelist of exempt countries. At most 2 signatories can be outside of aligned jurisdiction at any given time. All exchanges would be required to keep a compliant cold wallet for Canadian funds and have a Canadian office if they wish to serve Canadian customers.
(2) Regular and transparent solvency audits.
(a) An audit must be conducted at founding, after 3 months of operation, and at least once every 6 months to compare customer balances against all stored cryptocurrency and fiat balances. The auditor must be known, independent, and never the same twice in a row.
(b) An audit report will be published featuring the steps conducted in a readable format. This should be made available to all Canadians on the exchange website and on a government website. The report must include what percentage of each customer asset is backed on the exchange, and how those funds are stored.
(c) The auditor will independently produce a hash of each customer's identifying information and balance as they perform the audit. This will be made publicly available on the exchange and government website, along with simplified instructions that each customer can use to verify that their balance was included in the audit process.
(d) The audit needs to include a proof of ownership for any cryptocurrency wallets included. A satoshi test (spending a small amount) or partially signed transaction both qualify.
(e) Any platform without 100% reserves should be assessed on a regular basis by a government or industry watchdog. This entity should work to prevent any further drop, support any private investor to come in, or facilitate a merger so that 100% backing can be obtained as soon as possible.
(3) Protections for hot wallets and transactions.
(a) A standardized list of approved coins and procedures will be established to constitute valid cold storage wallets. Where a multi-sig process is not natively available, efforts will be undertaken to establish a suitable and stable smart contract standard. This list will be expanded and improved over time. Coins and procedures not on the list are considered hot wallets.
(b) Hot wallets can be backed by additional funds in cold storage or an acceptable third-party insurance provider with a comprehensive coverage policy.
(c) Exchanges are required to cover the full balance of all user funds as denominated in the same currency, or double the balance as denominated in bitcoin or CAD using an established trading rate. If the balance is ever insufficient due to market movements, the firm must rectify this within 24 hours by moving assets to cold storage or increasing insurance coverage.
(d) Any large transactions (above a set threshold) from cold storage to any new wallet addresses (not previously transacted with) must be tested with a smaller transaction first. Deposits of cryptocurrency must be limited to prevent economic 51% attacks. Any issues are to be covered by the exchange.
(e) Exchange platforms must provide suitable authentication for users, including making available approved forms of two-factor authentication. SMS-based authentication is not to be supported. Withdrawals must be blocked for 48 hours in the event of any account password change. Disputes on the negligence of exchanges should be governed by case law.

Steps Forward

Continued review of existing OSC feedback is still underway. More feedback and opinions on the framework and ideas as presented here are extremely valuable. The above is a draft and not finalized.
The process of further developing and bringing a suitable framework to protect Canadians will require the support of exchange operators, legal experts, and many others in the community. The costs of not doing such are tremendous. A large and convoluted framework, one based on flawed ideas or implementation, or one which fails to properly safeguard Canadians is not just extremely expensive and risky for all Canadians, severely limiting to the credibility and reputation of the industry, but an existential risk to many exchanges.
The responsibility falls to all of us to provide our insight and make our opinions heard on this critical matter. Please take the time to give your thoughts.
submitted by azoundria2 to QuadrigaInitiative [link] [comments]

Paper Wallet Vanity addresses.

EDIT 2/21/2020. I am no longer offering the service described below as I no longer have access to the necessary hardware.
~~~~~~~~~~
Hey all,
I have recently been messing around with vanity addresses for paper wallets. After a little tinkering I got the system working well and can generate wallets up to a certain complexity quite reliably.
I've been able to generate wallets like this one: 1Bitcoinjqekek8HwmT8Cp8ojH9b7Quhzi
This one: 1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6
And this one: 1Genesisud7wjt8Lkto75ANupmviwC2wpW
I personally haven't been using paper wallets for cold storage until now, but with the value of BSV going up and also having read the following paper about the possibility (albeit very small) of compromise of private keys in HD wallets, that for the BSV I intend to sit on long term, it's probably not the worst idea ever to use a paper wallet for that. But hey, it would be nice if those addresses were a bit more recognizable than a random address, am I right? :)
In going through this exercise, I happened to notice that there are services out there that will generate these kinds of addresses, but they seem overly expensive!
e.g., At vanity.coin.dance they want 1 BTC(!!) to generate an address starting with "Satoshi" e.g., like the "1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6" I generated above. That's day-light robbery!!
Furthermore, the above service treats split key generation (which seems necessary for security when having a third party generate the wallet) as an "advanced" feature only. Imagine paying 1 BTC for an address only to have the private key compromised! (Seems almost negligent).
So anyway, whilst I have this system set up and working, I was thinking I could extend a temporary offer to anyone who is interested in getting a vanity address (or addresses) for paper wallet cold storage.
So all that said, the procedure, following the secure split key approach, would be as follows.
  1. You would go to bitaddress.org and download a local copy of the web site (and validate it against provided signatures).
  2. Run that downloaded copy of web site on an off-line system.
  3. Click the Vanity Wallet Tab.
  4. Click the "Generate" button in Step 1.
  5. Copy the public key from Step 1 and PM me with that key (it's quite long so copy/paste is the way to go). Also indicate in the PM the address prefix that you want (can't include invalid characters; I will tell you if you included any). Be sure to keep a copy of the private key from Step 1 (or keep the web page open). If you lose this key the whole process will be for nothing. Do not lose (or compromise) it (and definitely do not PM it to me!).
  6. Send payment (as per the schedule below) to 1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6 and PM me the TxID.
  7. When I receive payment, I will generate a partial private key that you need for Step 2 in the bitaddress.org page.
  8. You take the partial private key that you generated in Step 1 (that you keep secure and never shared with anyone) and paste it into the first box in Step 2 in the Bitaddress.org page (that you are still running locally and off-line).
  9. Finally, you paste the partial private key that I PM you back, into the text box where it says "Enter Pool Part Private Key (from Vanity Pool):" (Note: PMing this partial private key is fine; so long as you keep your partial private key secure (from Step 1), the process is still secure; the process is intended to work this way).
  10. Click "Calculate Vanity Wallet" et viola! A wallet will be produced that meets your prefix requirement and is 100% secure since the partial private key that you generated in Step 1 never left your control.
What you do with your new shiny address from that point on-wards is your prerogative, the same as any other paper wallet that you produce. Our deal is done.
The pricing schedule for this (temporary) service is as follows:
  1. 3 Characters (e.g.,) 1BSVxxxx....xxx 0.01 BSV.
  2. 4 Characters (e.g.,) 1Coinxxx....xxx 0.02 BSV.
  3. 5 Characters (e.g.,) 1Coinsxx....xxx 0.04 BSV.
  4. 6 Characters (e.g.,) 1BuyBSVx....xxx 0.1 BSV.
  5. 7 Characters (e.g.,) 1Satoshi....xxx 0.75 BSV1.
(Footnote 1: Turns out most 7 character combinations are pretty hard to generate and may take quite a while to generate. The prefix "1Bitcoin", however, is not as hard (higher chance of generating), and I can do that one for 0.25 BSV).
(Note: I can't guarantee that I can deliver anything longer than 7 characters, hence there is no price for this).
(Note: The reason for the steep increase in price as a function of number of prefix characters is the time it takes to generate the addresses as they become exponentially more complex and the fact the process is non deterministic).
Compare the above price for a 1Satoshi... address (0.75BSV) to vanity.coin.dance (1BTC!!!) and hopefully you'll see that I'm being pretty reasonable with this, though do note that the "1Satoshi" prefix, specifically, is a hard one to generate and I may not be able to do it unless you are willing to wait a while.
Anyway, I'm not sure if anyone will be interested in this, and you'll have to trust me as someone who has been in this sub since the total membership was only in double digits, that I'm not a fly by night scammer who is going to take your payment and run! To that end I advise that I have made posts in this sub with direct reference to my Australian based registered business that accepts BSV as payment, so it's not hard to track me down. If you go back far enough you'll also see that I was involved in running a Bitstagram competition and came good with the BSV prize in that case. That said, a small amount of trust will be required if this is going to work out. Test me with one of the cheaper options first, if you have doubts.
Terms and Conditions
  1. Any PM received with an "order" is an offer by you to purchase a vanity address. It's not binding until I accept the offer in writing (by PM).
  2. All "orders" will be processed in the order they are received; I will guarantee a 48 hour turn around for everything up to 6 characters and 1681 hours (7 days) for 7 characters. In reality most will be processed much quicker, but I have to cover my ass! If I get too many orders (unlikely!!) I reserve the right to reject any that I cannot meet in a timely manner (any payments that have been made will be refunded to the specified address, less any BSV Tx fees).
  3. This offer is on the table until I withdraw it. I may withdraw it at any time by making a follow up post to this sub edit to this post.
  4. The address that is generated is the address that you get and that is final. If there is something in the address that you don't like (like a random swear word; albeit very unlikely) we can discuss a discounted rate to have a second try at it. (I'd rather you go home happy, if possible).
  5. If there is some address that I cannot generate in the above guaranteed time frames (some are harder to produce than others), I will let you know by PM and refund your entire purchase price.
  6. The entire risk of the use of the generated vanity address lies with you. (I recommend you test it with a small amount and make sure you can withdraw it, before loading it up for real).
(T&C Footnote 1: Some 7 character combinations can take a long time to find (e.g., "1Satoshi") and may take up to two weeks or more! I reserve the right to not even attempt to generate any specific combination that could adversely affect my ability to turn it around in a reasonably timely manner. In that case you can choose a different prefix or I will refund your money, if at that stage you had already paid). For any potential prefix I can check the estimated time to generate and report back on whether it's reasonable, before we agree to go ahead.)
ps/ Here are two three addresses that I generated showing that funds are able to be deposited and withdrawn successfully.
https://blockchair.com/bitcoin-sv/address/1Satoshi3A43v3Jk9MpfJPUDrWadFUUP6
https://blockchair.com/bitcoin-sv/address/1Bitcoinjqekek8HwmT8Cp8ojH9b7Quhzi
https://blockchair.com/bitcoin-sv/address/1BuyBSVMHGx6dSTpLMhALXvEPVEDMStxoR
Both addresses accepted funds and both allowed the BSV to be successfully swept (in this case I used Simply Cash to deposit and sweep).
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EDIT 2/21/2020. I am no longer offering the service described below as I no longer have access to the necessary hardware.
submitted by PaidSockPuppet to bitcoincashSV [link] [comments]

Defi Plan Official departure

April 24, 2020, this is a great day,DEFI plans to officially open the global registration!
This is a wealth feast for people all over the world who love fairness, justice and openness and pursue decentralized finance!
In this great day, let's join hands with Defi plan, preach DEFI plan, and share extraordinary wealth!
Online address: df.defiplan.co, the official recommendation code of Defi plan: 324cb7b0,307d0955 , 3251486
Initiated by bitcoin and IPFs global miner Alliance on shenzhen.com, the whole code is deployed on the decentralized smart contract public chain of Ethereum, and is open-source through github.com, the most authoritative open-source official website of Microsoft in the world.
There is a very successful open source decentralization project in the world. It is sponsored by Satoshi Nakamoto and translated into English and Chinese by Nakamoto. With justice and love in mind, he invented bitcoin (BTC).
Like the bitcoin created by Nakamoto, defi plan is open-source on github.com, and all the code
, system and rules are deployed on the decentralized smart contract public chain of Ethereum. Open source code, such as the law, can not be tampered with by anyone, including the creator. You can use your non link 0.5eth to participate in and learn profi plan. Let's learn about the profi plan.
1: Income from investment and mining (0.3% - 1.5%)
1: You invest 0.5-0.9 eth, total 1 times of income
2: You invest 1-5 eth, 2 times the total income
3: You invest 6-10 eth, 2.5 times the total income
4: You invest in more than 11 eth with a total of 3 times the return
Note: each consensus member gets DFP digital currency 1:1.
2: Direct calculation force 5%
3: Direct push Champion (top 100 in the world)
Add 2% to the championship pool every day, with a maximum of 300eth in the pool, which is put every 7 days.
1: Winner wins eth of 20% of total pool quota
2: Runner up wins eth of 10% of total reward pool
3: The third place wins 5% of the total amount of eth in the pool
4: 4-10 eth with 2% of total reward pool
5: 11-20 eth with 1% of total reward pool
6: 21-100 eth with 0.5% of total reward pool
Note: from champion to 100, DFP digital currency will be obtained according to 1:1 number of award eth.
4: Node computing power income (enjoy static income)
1: Recommend one node: enjoy 20% of the first generation
2: Recommend 2 nodes: enjoy 2 generations 10%
3: Recommend 3 nodes: enjoy 3 generations 5%
4: Recommended 4 nodes: enjoy 4 generations 3%
5: Recommend 5-6 nodes: enjoy 5, 6, 7 generations 2%
6: Recommend 7-8 nodes: enjoy 8, 9, 10 generations 1%
7: Recommended 9 nodes: enjoy 0.5% of 11-29 generations
8: 10 nodes recommended: enjoy 30 generations 10%
5: Calculation power of miner's grade difference
1: (ordinary miner) for your recommended miner node, one market has a total of 200eth, and the rest markets have a total of 150 eth. You get 5% new eth for the miners under the umbrella
2: (VIP miner) your recommended miner node, one market has a total of 600eth, and the rest markets have a total of 450 eth. You get 10% more eth for the miners under the umbrella
3: (Senior miner) your recommended miner node, 1 market has 1800eth in total, and the rest market has 1350 eth in total. You get 15% more eth for the miners under the umbrella
4: (super miner) your recommended miner node, 1 market with 5400eth in total, and the rest market with 4050 eth in total. You get 20% more eth for the miners under the umbrella
Note: Senior miners get 2000 DFP digital currencies at one time, and super miners get 5000 digital currencies at one time.
6: Mining pool global daily dividend
1: VIP miners receive a global 3% eth weighted dividend.
2: Senior miners receive a global 2% eth weighted dividend.
3: Super miners receive a global 1% eth weighted dividend.
7: Get VIP miners directly
Your own wallet address invests 30eth in one time, directly and permanently enjoying 10% of VIP miner's income and 3% of global eth weighted dividend
The DEFI plan wealth system is a combination of direct push + single zone + double zone + sun + differential + Split + mutual aid + mining profit + game profit + Turing encryption algorithm. The system is scientific and human, and all contributors have profits.
The new crown epidemic in 2020 has led to the global economic crisis. On the one hand, human beings begin to enter the era of artificial intelligence and blockchain; on the other hand, enterprise bankruptcy and unemployment will be the norm. Many people around the world are cut Leek by the centralized project every year, which has few opportunities for us, so the defi plan is worth fighting for!
submitted by DEFIP889 to u/DEFIP889 [link] [comments]

Sharering (SHR) I believe this one is going to surprise so many. Already generating revenue and doing buybacks every week. Already over 10 000 registered users. Mainnet + app + masternodes and staking before EOY.

I got this stuff from Steve Aitchison, he wrote this review and posted it on Uptrennd. Figured I should put it on here as well since I truly believe this is an incredible moonshot. I'm personally holding SHR myself and am very convinced it will do extremely well.
Give a read through it and you will immediatly see why. Enjoy guys.
Introduction
Imagine for a second the following scenario. You are a 2 car family. One car is used every day going back and forth to work, for shopping, all the little jaunts you and your husband like to go on. Your grown children are at university and come home for the weekends so the other car sits in the driveway all week and doesn’t get used during the week. What a waste of a perfectly good car. You think to yourself we could put that car to good use and actually help to pay for university fees, by renting it out during the week. However, then you think “well it’s only a little Ford Fiesta who’s going to want to rent that.” Well, it turns out a lot of people want to rent it and for a good price: £34 ($40) per day, a possible $800 per month.
Peer to peer car sharing has grown massively over the last few years and people are making serious money by letting our vehicles on a daily basis, emulating the Airbnb model. In fact companies like Turo, Getaround and Drivy, which has just been acquired by Getaround for $300 Million, are bringing in serious investors like Toyota, Softbank Vision Fund, Menlo Ventures, and IAC to the tune of over $800 Million.
A key difference between rental companies and peer to peer is that they have vastly improved technology with app interfaces that make locating assets and resources, reserving and using them, and making payment convenient and seamless. This, combined with location-specific analytics, allows by-the-minute access to assets and resources (e.g. cars or bicycles) and enables customers to pick up and drop these assets where and when convenient.
Car sharing is just one example of an industry that is being disrupted. We have seen, experienced and read about the amazing growth of Airbnb which is now estimated to be valued at $38 Billion. Airbnb has been so successful that companies like booking.com are trying to get in on the act by adopting a similar model when it comes to booking accommodation.
There is also the phenomenal rise of bicycle rentals which we see in cities all over the world, not quite the same as peer to peer sharing, but it’s another rental model that is ripe for being disrupted by the new sharing model.
With this business model in mind what other areas could it be used in:
Transport: Used for the rental of cars, trucks, scooters, trailers, and even heavy vehicles. Delivery Drivers: Facilitate booking and payment for delivery drivers. Agriculture: Garden sharing, seed swap, bee-hive relocation, etc. Finance: Peer to peer lending Food bank, social dining Travel Tours, shared tour groups Real Estate Airbnb, co-housing, co-living, Couchsurfing, shared office space, house swapping. Time: Labour, co-working, freelancing Assets Book swapping, clothes swapping, fractional ownership, freecycling, toy libraries. Transportation Car sharing, ride-sharing, car-pooling, bicycle sharing, delivery company, couriers And so much more!
This newly emerging, but highly fragmented sharing industry, is currently worth over $100 billion. It is predicted to grow to at least $335 billion by 2025.
As you can see from a few examples above the sharing economy has a lot of room to grow but what it doesn’t have, yet, is a company who can facilitate ALL of the above use cases in one place.
That is until now!
ShareRing is disrupting the disruptors by bringing everything together in one place and making it easy for you and me to share anything and everything and making it as easy as opening an app on your phone.
Business Case
The sharing market has exploded over the last several years. This is due, in part, to the digital age we live in, as we now have over 2.82 Billion people with smart phones around the world. It also due to how easy the business model of sharing lends itself to the digital world, and how with the simple installation of an app we can access a plethora of markets to rent almost anything from.
Due to this rise of digital platforms and the proliferation of smartphones, revenues coming from sharing economy platforms are only expected to increase. It is estimated to grow to a $335 billion industry in 2025, compared to its $14 billion value in 2014. (PwC UK).
The beauty of the sharing economy is that it is a win/win/win situation for the person who wants to rent something for a few days or weeks, the person who is renting out, and the company who facilitates the ease of the transactions between the renter and the person renting out. Typically the renter will save a lot of money whilst renting out someone else’s apartment, car, bicycle, clothes, dog sitting services etc and they can almost be assured of quality due to the social side of the business model with reviews from real people. The person who is renting out can make additional income and will want good reviews and therefore keep the standard of service higher. The company that is facilitating all of this can make a lot of money on transaction fees, as well as from advertising, and partnership deals, and obviously have an exit strategy for possible buyouts.
When it comes to looking at the business model, ShareRing fits in to the Commission Based Platform as described in Ritter and Schanz study where they looked at the core difference in difference business models of the sharing economy: Singular Transaction Models, Subscription-Based Models, Commission-Based Platforms and Unlimited Platforms.)
Commission Based Platforms are dominated by (at least) triadic relationships amongst providers, intermediaries and consumers with a utility-bound revenue stream. These business models enable their customers to switch between provider and consumer roles by creating and delivering the value proposition. Only a few employees work for the intermediary and the value creation and delivery is externalized. From a consumer perspective, consumers are empowered to collaborate with each other and to design the collaboration terms by negotiating the terms and conditions of the content, creation, distribution and consumption of the value proposition. Depending on the orientation of the value proposition, consumers purchase commodities (Tauschticket, ebay), access commodities in a defined timespan (booking.com, Airbnb) or buy services (uber, turo) from occasional and professional providers found via an intermediary. The intermediary mainly focuses on nurturing a community feeling and reducing exchange insecurity by incorporating rating systems, micro-assurances and standardizations of payment and delivery into the platform. The platform mainly takes commissions for successful matching and executing trade. (Journal of Cleaner Production Volume 213, 10 March 2019, Pages 320-331)
The USP of the ShareRing Business Model
The USP that ShareRing has is that it brings all of the different forms of sharing together in one app through partnerships and onboarding of users.
No other company, to date, is bringing everything together in such a way. However there are other factors that make ShareRing unique, which we will look at.
Token Economics
SHR is a utility token and will be used to pay for transactions on the network, such as 'new booking', 'add asset', etc. SHR is used by providers to pay for their access to the ShareLedger blockchain, including the addition of assets, renting out of assets, adding attributes, adding smart contracts, and other features.
SharePay (SHRP) is used by customers to pay for the rental of assets.
Masternodes will also be a main feature of the SHR token. When a transaction fee is incurred, it will be distributed in a way that allows for masternode holders who provide a service to the platform to receive a reward from each transaction. Transaction fees are charged to sharing providers in SHR. The distribution of transaction fees will be as follows: 50% - will be distributed amongst the active masternode holders who host an active node on the blockchain at that point in time (these holders provide a service to the platform). The distribution will be based on a calculation of the Total Amount Staked and the total continuous uptime of the node. 50% - will be provided to ShareRing Ltd (view ShareRing owned masternodes) for various purposes that contribute to working capital and platform growth.
Leased Proof of Stake Consensus
ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption.
As explained above master nodes will be a main feature but there is the other feature of lightweight nodes. A user with a lightweight node will be able to stake their tokens to a full node of their choosing and participate in reaching consensus. They will also be free to cancel their leasing at any time as there are no contracts or freezing periods. The more tokens that have been staked in a full node, the higher the probability the node will have in producing the next block. Since the reward is given based on the total number of tokens staked in the full node, there will always be a trade-off between the size of the full node and the percentage of the reward. As an average user of the platform, you will not need to have technical knowledge on how to set up a node nor will you have to download the entire blockchain in order to stake your tokens. Only a user who sets up a full node will be required to do this, making it simpler than ever for users to earn a reward for supporting the platform.
The return expected for staking is expected to be around 6 - 8% although this has yet to be confirmed.
Buybacks
ShareRing are currently implementing a series of buybacks which started in the beginning of November:
The buyback operation is done at a random time during the week.
If there is enough liquidity, SHR tokens will be bought through a single market order at the time of buyback. In case there is not enough liquidity, a limit buy order at last sell order price will be placed on the market, and will remain open until it gets filled.
The buyback program was implemented to test the API purchase process for when live transactions occur on ShareLedger
The Buyback Program is expected to:
  1. Reduce the supply of ShareTokens available in both public and private markets
  2. Bring New capital and fund inflows into the Shareledger
  3. Substantially magnify value creation for the ShareToken holders
The Token Flow
ShareRing will bring in hundreds of merchants to list their rental products, either exclusively or as part of an aggregator system e.g. When you look at the likes of trivago.com they will list the best hotel prices from multiple merchants who are listed on their website. Essentially ShareRing will become part of the aggregator ecosystem and be listed on sites like trivago.com as well as have exclusive agreements with merchants who are listed directly on their app.
ShareRing’s USP is that they have everything on one place as well as their OneID module with means buyers can get a hotel, rent a car, rent their ski equipment, book events all through the one app and using the OneID.
With that in mind they are going to attract a lot of merchants.
This is where it gets exciting so pay attention to this part.
When a merchant is part of the ShareRing ecosystem and a buyer rents something from that merchant ShareRing will take a small % commission from that transaction. So say someone books a hotel for $100 for the night, ShareRing might take $0.50 as a commission. What ShareRing will then do is go to one of the exchanges that ShareRing (SHR) is listed on and buy SHR tokens directly using an API system using USDT.
Now, the actual commission has not been disclosed yet however if we assume even a 0.25% commission that means for every $100 Million worth of bookings made through the app will net ShareRing $250,000 which means buy backs of $250,000 for the SHR token, which increases the liquidity of SHR on the exchanges.
If you think $100 Million of bookings is a lot, booking.com customers book around 1.5 Million rooms per day, if we estimate an average of $50 per room that is $75 million of bookings PER DAY or $2 Billion worth of bookings per month.
This revenue coupled with revenue from OneID and eVOA makes ShareRing profitable almost from day one of the app going live.
OneID And eVOA
Another exciting development from the ShareRing team is the collaboration between ShareRings Self Sovereign Identity protocol and third party providers to bring OneID and eVOA which will utilise OneID
With the huge rise in E-commerce and with over 2.82 billion people who now own a smartphone we are entrusting our personal information to more and more centralised entities. These entities are frequently hacked and our information is leaked to outside parties.
ShareRing aims to tackle this with their service OneID module.
ShareRing’s OneID solution protects users' data by handling Know Your Customer (KYC) information through third parties and ShareRing’s Self Sovereign Identity Protocol. ShareRing does not hold any identifying information anywhere on its servers. It provides the ultimate security for the renter and also the provider, as the Protocol encrypts and stores your data in a secure manner within your device. Essentially, this means that it is near impossible for a hack or data leak to happen, simply because there is no centralized server of data for hackers to exploit.
The OneID module is very easy to use. The end-user needs to complete their ID submission only once, with the entire submission process requiring less than two minutes to complete. Once this step has been completed, the customers KYC is destroyed by the 3rd party document verification system and the OneID module allows merchants to verify a customer’s identity via a hashed verification packet, stored on the users device and ShareLedger. This removes the need for merchants to store or see personal information; safeguarding both merchants and users from fraud.
To create your ShareRing OneID, simply:
  1. Take a picture of your government ID document
  2. Take a selfie
  3. Confirm and submit your details
This is something I am really excited about for ShareRing and they already have made partnerships for other companies to use this feature which is another income stream for ShareRing.
eVOA
E-Visa On Arrival allows applicants to apply online and receive a travel authorisation before departure – this eVOA can be shown at dedicated Thailand immigration counters on arrival at major Thailand airports, allowing travellers to pass through in minutes.
OneID system is scheduled to become the lynchpin technology in Thailand’s electronic Visa On Arrival (eVOA) system; one of only two companies to partner with Thai authorities to provide this service. The new Visa system eliminates much of the hassle involved in entering the country:
This is a strong validation of the OneID system - immigration controls are some of the most scrutinized processes in any branch of government, and if the OneID solution can operate to their standards then it is truly business-ready. As explained by our COO, Rohan Le Page:
“We are providing our OneID product for Thailand e-VOA (Visa On Arrival) that allows 5 Million travellers from 20 countries including China and India to complete the visa process on their mobile through our app. This provides a streamlined immigration process that negates the need for an expensive and time-consuming process when you get off the plane. Additionally, fraud is mitigated with several extra layers of security in the back end including our blockchain (ShareLedger) consensus model that makes all data immutable and all but impossible to hack.”
Profit Margins on OneID
So how does ShareRing make money from OneID and eVOA?
With each application for an eVOA using the OneID module ShareRing will make an undisclosed commission. The e-VOA is available to citizens of 21 different countries and is intended for those who will be holidaying in Thailand and not working in the country.
This means that each eVOA will last for a period of around 15 days which effectively means that ShareRing will get commission multiple times from each person travelling to one of the 21 countries listed below:
Andorra, Bhutan, Bulgaria, China, Ethiopia, Fiji, India, Kazakhstan, Latvia, Lithuania, Maldives, Malta, Mauritius, Papua New Guinea, Republic of Cyprus Romania, San Marino, Saudi Arabia, Taiwan, Ukraine, Uzbekistan
The profits on this alone, according to projections, are worth millions of dollars per year to ShareRing, with a healthy growth of about 35% in raw profit over the next 5 years, ultimately netting the company about $1.5 million profit per quarter.
The ShareLedger Blockchain Platform
ShareRing will utilize the registered intellectual property from the existing KeazACCESS framework (KEAZ: A car sharing company founded by Tim Bos) as well as improving it the blockchain experience in their team.
It will consist of fo the primary elements:
SharePay (SHRP) – SharePay is the base currency that will allow users of the ShareRing platform to pay for the use of third party assets. ShareToken (SHR)
ShareToken (SHR) is the digital utility token that drives sharing transactions to be written to the ShareRing ledger that is managed by the ShareRing platform.
Account – This will be a standard account, which such an account being represented by a 24-byte address. The account will contain 4 general fields:
SHRP – SharePay token balance
SHR – ShareToken balance
ASSETS – linked/owned by the account (see below for definition of an Asset) ATTRIBUTES – Any additional attributes that are associated with this account. These attributes may be updated or added by Sharing Economy providers that utilise the ledger such as ID checks by rental companies. These attributes may be ‘global’ (i.e. used by any sharing providers) or ‘local’ (i.e. used by a specific sharing provider).
Assets – An asset represents a tangible real-world or digital asset that is being shared, such as a car, a house, industrial machinery, an e-book, and so on.
Smart Contracts – Similar to a number of other blockchain platforms, such as Ethereum and NEO, the ShareLedger blockchain will feature highly customisable smart contracts. These Smart Contracts will allow for decentralised autonomous applications that can be attached to an asset and/or account. Every smart contract will be Turing complete, meaning it will have the ability to implement sophisticated logic to manage the sharing of the assets. The smart contracts will be tested and reviewed by ShareRing in a sandbox as well as audited by reputable third-party code auditors prior to implementation.
Proof of Stake Consensus
ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption.
The ShareRing App
At the heart of the ShareRing project lies the ShareRing app:
A universal ‘ShareRing’ app is being developed that will allow anyone to easily see and use any sharing services around them. Each partner will have the option of developing a ‘mini’ app within the ShareRing app that will have functionalities specific to that partner. The app will use geolocation-based services to display the ShareRing services that are nearby
Social Media Presence
Coming from a social media background I feel this is an extremely important area to look into, especially in the crypto world.
ShareRing has done an okay job in growing their social media presence however I feel it could be much better. Here is a look at some of the key stats for their online social media presence:
Youtube: 191 Subscribers Instagram: 238 Followers Linkedin: 376 Followers Telegram: 6,525 members (very active) Twitter: 2,216 Followers (Fairly regular updates) Facebook: 1,965 Followers
Whilst social media may not be a priority just now I feel there has to be a big presence with image-based platforms and video-based platforms. Youtube and Instagram should be made a priority here as it spans all generations:
Other News on ShareRing
There is a lot of stuff going on at the moment with ShareRing which is what makes it an exciting prospect. Rather than give information on each of them here are some highlights provided by the ShareRing team.:
- ShareRing's revolutionary ID management based module OneID.
- Worlds first Blockchain based eVOA in place with major Thai company targeting 5 to 10 million travellers from 20 countries.
- 2.6 million International Hotels/ Accommodation coming on to the Platform. Lots more to come!
- Partnership with HomeAway
- 200,000 Activites, Tours and Events added to the ShareRing App
- Multi Global Car Sharing Partnerships
- 1 Partner Directly Integrating SHR's OneID consisting of 1.2 million Vehicles across 150 Countries
- Luxury Car Brand Sharing Platform purely based on SHR
- SHR payment system SHRP available in 10% Taxi Terminals in Australia
- SHRP available in 10,000 EFTPOS Terminals Australia wide
- White Labelling Services incorporating ShareRings revolutionary OneID
- 20 Significant Unannounced Partnerships, more to come!
- Major Partners include -
- BYD (Largest Electric Car Maker in the World)
- DJI (Largest Drone Maker in the World)
- Keaz (300 locations around the world)
- Yogoo EV Car Sharing
- MOBI Alliance Member
Overview of Positives and Negatives
Negatives
Social Media and marketing possibly needs to be ramped up in order to bring more awareness to the project.
The roadmap and white paper has not been updated recently for 2019/2020 but this I believe is coming soon.
Positives
With a low market cap project like ShareRing the risk to reward ratio is very good for retail and institutional investors.
Technical analysis of current prices, currently at 31 Satoshi, is also very good with resistance levels at 50, 77 and 114 Satoshi which would be nearing its all time high.
Referral program will increase the numbers of users that are currently using the site.
If ShareRing can capture even a small % of the overall sharing market then success looks assured.
There are 20 new announcements coming up and with Tim Bos looking for more partnerships it seems likely that ShareRing will break ATH prices soon.
Great long term hold, in my opinion.
Realistic Expectations of ROI
Short term (4 weeks - 12 weeks)
Short term looks great for ShareRing both from a TA point of view and a fundamental point of view.
With lots of news still to come out about ShareRing there is not going to be a shortage of fundamentals to drive the price up. From a TA point of view the next line of resistance stands at around the 50 Satoshi level which would complete a massive cup and handle formation from August 24th of this year. After that we are looking at resistances of 77 and 114 to reach near the all time highs which i expect ShareRing to reach going into 2020.
Long term (6 Months - 2 Years)
If ShareRing can onboard users and keep on making partnerships at the same rate there will be no stopping it. It’s all about onboarding the users and utilising the most powerful marketing tool ever - word of mouth!
When a great app is realised with great and useful functionality then it tends to go viral and I am hoping this happens for ShareRing.
With a market cap at the moment of just under $6 Million then I don’t think it’s crazy to talk about 1000% increases in the next 2 years and I really believe that is being extremely conservative, given where we think crypto is heading as a whole.
submitted by Grills93 to CryptoMoonShots [link] [comments]

The new cryptocurrency "ETX" is been mining, its technology and potential have attracted much attention!

The new cryptocurrency
As the culmination of a new round of information technology innovation, the application of blockchain in the economic industry is pushing the entire economic system to achieve technological change, organizational change and efficiency change. The implementation of blockchain technology will bring the existing business model Refactoring. Among them, Bitcoin, as a representative of blockchain technology, has been in operation for 11 years from 2009 to the present. It has survived some crises and has been constantly improving and upgrading.
On January 3, 2009, the first block: the genesis block was born, the first miner and bitcoin owner: Satoshi Nakamoto, the reward generated by the first block: 50 bitcoins. This also means that the formal birth of blockchain technology and digital currency has historical significance for today's digital currency market.

https://preview.redd.it/uyjjvx99ars41.jpg?width=640&format=pjpg&auto=webp&s=0141ed26e5c38e4bd9fc610a13b4339f84656378
In the process of continuous development and improvement of the blockchain, many more excellent digital currencies have emerged, both from the technical level and the future vision, they all have relatively good performance. ETX (EthereumX-NET) is one of them, and it has been loved by digital currency enthusiasts in the early days of its birth. ETX public chain adopts a brand-new blockchain system architecture and is positioned as an easy-to-use high-performance blockchain platform designed to achieve the performance expansion of distributed applications to meet the real needs of the real world.
In order to reduce the pressure on the main chain, ETX (EthereumX -NET) adopts a layered architecture of main chain + side chain. The main chain is only responsible for the circulation of ETX. DAPP runs on the side chain and completes the safe transfer of value between the main chain and the side chain through the ETX side chain transfer mechanism. The ETX public chain uses the mechanism of arbitrators' joint signature to ensure the security of transfers with the side chain. The main chain's currency holders jointly elect a certain number of "arbitrators". By signing, most arbitrators' signatures can unlock transactions on the main chain from the account representing the side chain to the ordinary account.

https://preview.redd.it/jxwavl0cars41.jpg?width=640&format=pjpg&auto=webp&s=0edd4a872c293ef372ce47a47f3b022eb9da50de
The ETX (EthereumX-NET) ecosystem has mining with a diversified main chain, and further releases the value of computing power through technology to bring higher returns to customers. In other words, these calculations can be used to do other things. Secondly, the ETX mining pool provides a one-stop node mining service for the mining pool for the main chain of ETX relying on the PoW + DPoS consensus mechanism. Election to the ETX mining pool seed node is the first step in mining ETX mining pool nodes. Next, the ETX mining pool will launch more node mining services under the PoW + DPoS consensus mechanism. At that time, miners can participate in mining and obtain mining rewards only by proxy voting.

https://preview.redd.it/yib6c1bears41.jpg?width=640&format=pjpg&auto=webp&s=aecf7b0cefa8b819b90c7631f7c20bcaea8265b2
The technology and potential of the digital currency ETX (EthereumX -NET) that can be tapped are highly concerned. In the future, we will be able to make great achievements. Let us look forward to it together. I believe that in the near future, ETX (EthereumX-NET) will give us a generous return . (There are risks in the market, investment needs to be cautious, please do as your capability permits.)
submitted by BitRay2077 to u/BitRay2077 [link] [comments]

Duffy plans to sail around the world

April 24, 2020, this is a great day,DEFI plans to officially open the global registration!
This is a wealth feast for people all over the world who love fairness, justice and openness and pursue decentralized finance!
In this great day, let's join hands with Defi plan, preach DEFI plan, and share extraordinary wealth!
Online address: df.defiplan.co, the official recommendation code of Defi plan: 324cb7b0,307d0955 , 3251486
Initiated by bitcoin and IPFs global miner Alliance on shenzhen.com, the whole code is deployed on the decentralized smart contract public chain of Ethereum, and is open-source through github.com, the most authoritative open-source official website of Microsoft in the world.
There is a very successful open source decentralization project in the world. It is sponsored by Satoshi Nakamoto and translated into English and Chinese by Nakamoto. With justice and love in mind, he invented bitcoin (BTC).
Like the bitcoin created by Nakamoto, defi plan is open-source on github.com, and all the code
, system and rules are deployed on the decentralized smart contract public chain of Ethereum. Open source code, such as the law, can not be tampered with by anyone, including the creator. You can use your non link 0.5eth to participate in and learn profi plan. Let's learn about the profi plan.
1: Income from investment and mining (0.3% - 1.5%)
1: You invest 0.5-0.9 eth, total 1 times of income
2: You invest 1-5 eth, 2 times the total income
3: You invest 6-10 eth, 2.5 times the total income
4: You invest in more than 11 eth with a total of 3 times the return
Note: each consensus member gets DFP digital currency 1:1.
2: Direct calculation force 5%
3: Direct push Champion (top 100 in the world)
Add 2% to the championship pool every day, with a maximum of 300eth in the pool, which is put every 7 days.
1: Winner wins eth of 20% of total pool quota
2: Runner up wins eth of 10% of total reward pool
3: The third place wins 5% of the total amount of eth in the pool
4: 4-10 eth with 2% of total reward pool
5: 11-20 eth with 1% of total reward pool
6: 21-100 eth with 0.5% of total reward pool
Note: from champion to 100, DFP digital currency will be obtained according to 1:1 number of award eth.
4: Node computing power income (enjoy static income)
1: Recommend one node: enjoy 20% of the first generation
2: Recommend 2 nodes: enjoy 2 generations 10%
3: Recommend 3 nodes: enjoy 3 generations 5%
4: Recommended 4 nodes: enjoy 4 generations 3%
5: Recommend 5-6 nodes: enjoy 5, 6, 7 generations 2%
6: Recommend 7-8 nodes: enjoy 8, 9, 10 generations 1%
7: Recommended 9 nodes: enjoy 0.5% of 11-29 generations
8: 10 nodes recommended: enjoy 30 generations 10%
5: Calculation power of miner's grade difference
1: (ordinary miner) for your recommended miner node, one market has a total of 200eth, and the rest markets have a total of 150 eth. You get 5% new eth for the miners under the umbrella
2: (VIP miner) your recommended miner node, one market has a total of 600eth, and the rest markets have a total of 450 eth. You get 10% more eth for the miners under the umbrella
3: (Senior miner) your recommended miner node, 1 market has 1800eth in total, and the rest market has 1350 eth in total. You get 15% more eth for the miners under the umbrella
4: (super miner) your recommended miner node, 1 market with 5400eth in total, and the rest market with 4050 eth in total. You get 20% more eth for the miners under the umbrella
Note: Senior miners get 2000 DFP digital currencies at one time, and super miners get 5000 digital currencies at one time.
6: Mining pool global daily dividend
1: VIP miners receive a global 3% eth weighted dividend.
2: Senior miners receive a global 2% eth weighted dividend.
3: Super miners receive a global 1% eth weighted dividend.
7: Get VIP miners directly
Your own wallet address invests 30eth in one time, directly and permanently enjoying 10% of VIP miner's income and 3% of global eth weighted dividend
The DEFI plan wealth system is a combination of direct push + single zone + double zone + sun + differential + Split + mutual aid + mining profit + game profit + Turing encryption algorithm. The system is scientific and human, and all contributors have profits.
The new crown epidemic in 2020 has led to the global economic crisis. On the one hand, human beings begin to enter the era of artificial intelligence and blockchain; on the other hand, enterprise bankruptcy and unemployment will be the norm. Many people around the world are cut Leek by the centralized project every year, which has few opportunities for us, so the defi plan is worth fighting for!
submitted by DEFIP889 to u/DEFIP889 [link] [comments]

DeFi---- Global trend leader of decentralized financial plan

DeFi---- Global trend leader of decentralized financial plan
DeFi Plan is decentralized financial plan,in Chinese name“project Difi”.
There is very successful open source decentralized project around the world,which is run by a guy name Satoshi Nakamoto.Whose Chinese name is Zhong Bencong,invented bitcoin with justice and great love.It's the first free currency issued by the bottom of society in human history.Through 11 years,the belief and consensus of the bottom people,makes bitcoin appreciate 2000 million times.
DeFi Plan as same as Satoshi Nakamoto invented bitcoin,open source in Microsoft's most authoritative Github.com.All the code,system and rule are deployed in the Ethereum.And run with decentralized public chain of smart contracts.Open source code such as the law including the creator of any person can not tamper with it.
Whether you are participants of DeFi Plan or not,people all over the world can check the number of ETH on Ethereum's blockchain browser.Each static and dynamic benefit is recorded on the Ethereum public chain with great precision.Without open source centric projects,you just know how much money you have invented.But you never know how many bank notes,BTC or ETH are collected on the trader's account.Wake up every day, the first thing is log on to see if you can log on to thewebsite.And the first time is generate income to cash withdrawal.Because the system is likely to shut off the net in second.That moment is in fear!Over the past 20 years,only SMI,AGK and a small number of centralized projects are more successful.99.99% of the total project with a very bloody fruit that is shut off the net.
Today,DeFi Plan has a comprehensive layout of IPFS.People all over the world can participate in DeFi Plan and get IPFS mining and financing income.
IPFS is the underlying Internet protocol HTTP,thoroughly solve the centralized data storage cost,low security performance,vulnerable to attack,not permanent storage and other shortcuting.
Plastic United States Securities Regulatory Commission.Approved by SEC,Sequoia Capital Stanford University and other dozens of the world's top capital investment.
HTTP storage market value has reach 3.2million dollars,IPFS is Internet decentralized storage revolution.IPFS will create a million dollars market.And IPFS's incentive layer token,FILECOIN will be the next million times in the currency.Start online with DeFi"869"Plan,each consensus can get DFP digital certificate 1:1 free,constant 1.1billion.Go online more than 200 global mainstream exchanges.The first 8 years plan to complete the independent decentralized exchange,decentralized B2C mall,decentralized games and other ecology.DFP certificate should be use in the entire ecological.The second 6 years plan:Landing ecology list in the global main board of the financial market,to accelerate the global layout of the blockchain production industry.The third 9 years plan is to complete the application of interconnecting all things in global intellgent blockchain.
All the people around the world who want to escape the centralization project, with your non-critical 0.5ETH,can participate in DeFi Plan.
DeFi Plan's system is based on the scientific human nature.More work and more gains.Regardless of the size of the contribution can produce benefits.The investment income is allocated scientifically between 0.3%~1.5% of Turing encryption algorithm.The rule of system is directly calculation,algebra,single zone,double zone,sunlight,gradation,split,cooperation,mining profit,game profit and Turing encryption.Ethereum's smart contract is a powerful security system against DOSS and hacker attack.And effectively protecting t long-term development of DeFi Plan run in safe.
You might ask:Can DeFi Plan achieve success?
DeFi Plan will tell you that the entire Ethereum DeFi Ecology,has made more than 1 billion USD development.Decentralized financ will be the inevitable trend in the future.
Wealth System:
DeFi Plan is initiated by BTC and IPFS global miners in deep web.Open source at Microsoft's Github.com.And the development of Ethereum decentralized smart contract public chain.Automatic clearing on automatic operation.
Ethereum smart contract has a strong DOSS and hacker attacks firewall comprehensive protection of the DeFi Plan code safe operation.Be fair,transparent,impartial and never shut off the net.
All the people around the world who want to get of centralized programs.You can learn DeFi Plan by using 0.5 ETH as a reference.Let's learn about DeFi Plan.
First: Income from investment and mining(0.3%-1.5%)
1.You invest 0.5-0.9 ETH to double income in the total.
2.you invest 1-5 ETH to 2 times income in the total.
3.you invest 6-10 ETH to 2.5 times income in the total.
4.You invest more than 11 ETH to 3 times income in the total.
Note: every consensus can get DFP digital currency in 1:1.
Second: Straight pile calculation in 5%
Third: Straight pile champion(top 100 in the world)
Add 2% every day to the championship pool.The prize pool up to 300 ETH and put in once every 7 days.
1.Champion wins 20% ETH of the pool.
2.Runner-up wins 10% ETH of the pool.
3.Third place wins 5% ETH of the pool.
4.The forth-tenth win 2% ETH of the pool.
5.The 11th-20th win 1% ETH of the pool.
The 21st-100th win 0.5% ETH of the pool.
Note:Champion to 100,according to the number of reward ETH 1:1 to get DFP digital currency.
Fourth:node power income(enjoy static income)
1.Recommend 1 nodes: enjoy 1 generation 20%
2.Recommend 2 nodes:enjoy 2 generation 10%
3.Recommend 3 nodes:enjoy 3 generation 5%
4.Recommend 4 nodes:enjoy 4 generation 3%
5.Recommend 5-6 nodes:enjoy 5,6,7 generation 2%
6.Recommend 7-8 nodes:enjoy 8,9,10 generation 1%
7.Recommend 9 nodes:enjoy 11-29 generation 0.5%
8.Recommend 10 nodes:enjoy 30 generation 10%
Fifth:Calculation of miner's gradation
1.(Ordinary miners) your recommended point,a market cumulative 200 ETH,a market cumulative 150 ETH you get under the umbrella of miners new 5% ETH.
2.(VIP miners)your recommened point,a market cumulative 600 ETH,a market cumulative 450 ETH,you get under the umbrella of miners new 10% ETH.
3.(Senior miners) your recommended points for miners,1 market cumulative 1800 ETH ,1350ETH accumulated in the market,you get under umbrella of miners added 1.5% ETH.
4.(Super miners)your recommended point,a market cumulative 5400 ETH,a market cumulative 4050ETH,you get under the umbrella of miners new 20% ETH.
Note:Senior miners will get 2,000 DFP digital currency at one time,and super miners will get 5,000 DFP digital currency at one time.
Sixth:Every day global mining pool dividends
1.VIP miners get 3% global ETH weighted bonus.
2.Senior miners get 2% ETH weighted bouns.
3.Super miners get 1% ETH weighted bouns.
Seventh:Direct access to VIP miners.
One time investment of 30 ETH in your own wallet address,directly and permanently enjoy 10% VIP miners and 3% ETH weighted global dividends.
DeFiPlan system is based on directly calculation,algebra,single zone,double zone,sunlight,gradation,split,cooperation,mining profit,game profit and Turing encryption.The system is scientific humanity and all contributors have profits.
The global economic crisis caused by the new crown epidemic in 2020.At the Same time,human beings began to enter the era of artificial Intelligence and block chain on an all-round way.Enterprise bankruptcy and unemployment will be normal.
Every years the ordinary people in the bottom layer who are cutting by the centralization fund project.There is not much really available to us.Thus worth fighting for DeFi Plan.
Grand sailing is about to begin in mid-April 2020! Let us go hand in hand to create brilliant!
submitted by DEFIP889 to u/DEFIP889 [link] [comments]

Got this in my inbox a couple of minutes back

A new user sent me this to my inbox, its a description of the events after the fork, with a signed message at the bottom. I've gone through it once but its very late here in my timezone, have to go through it again tomorrow. I'm sure I'm not the the only receipient, but just in case pinging some people here.
https://honest.cash/kiarahpromise/sigop-counting-4528

*** EDIT 2 ***
Before you continue. From the Bitcoin whitepaper:
" The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes."

*** EDIT ***
Ok, I have slept over this.
How big is the chance that these two events, the sigop tx spamming of the network and the intended theft of funds stuck in segwit by an unknown miner, were coordinated and not coincidential? I slept over this message and am wondering if that was one two-phased plan and even this message was planned (probably a bit different but it was adapted afterwards to the new situation, that's why the first half of it is such a mess to read) to spread fear after the two plans got foiled.

The plan consisted of various Acts
Act 1) Distract and spam the network with sigop transactions that exploit a bug to cause distraction and halt all BCH transaction volume. The mempool would become filled with unconfirmed transactions
Act 2) When a patch is deployed, start your mining pool and mine the hell out of it to quickly create a legitimate block. They prepared the theft transactions and would hide them in the (predicted) massive mempool of unconfirmed transactions that would have been accumulated. They would mine a big block, everyone would be so happy that BCH works again, and devs would be busy looking for sigop transactions.
Act 3) Hope that the chain gets locked in via checkpoint so the theft cannot be reverted
Act 4) Leak to the media that plenty of BCH were stolen after the fork and the ABC client is so faulty it caused a halt of the network after the upgrade
Act 5) Make a shitload of money by shorting BCH (there was news about a appearance of a big short position right after the fork)

But the people who planned this attack have underestimated the awareness and speed of the BCH dev team. They were probably sure that Act 1 would take hours or even days so the mempool would be extremely bloated (maybe they speculated that everyone paniced and wanted to get out of BCH) and Act 2 would consequently be successful because no one would spot their theft transactions quick enough.

But they didn't calculate that someone is working together with various BCH pools in precaution to prevent exactly this scenario (segwit theft) and even prepared transactions to move all locked coins back to their owners.

Prohashings orphaned block was likely unpredicted collateral damage as Jonathan suggests below, because they were not involved in the plan of the two pools who prepared to return the segwit coins. I'm guessing that the pools did not expect a miner with an attacking theft block that early and had to decide quickly what to do when they spotted it.

So now that both plans have been foiled, Plan B) is coming into place again. Guerrilla style fear mongering about how BCH is not decentralized. Spread this info secretly in the community with the proof in form of a signed message connected to the transactions. Of course, the attacker worked actually alone, attacked us for our own good, and will do so again, because the evil dictatorship devs have to be eradicated....

As an unwanted side effect of these events the BTC.top and BTC.com "partnership" has been exposed. So what do we do with this new revelation is a question that we probably have to discuss.

They worked together with someone who wanted to return the segwit coins and avoided a theft. They used their combined hashing dominance to avoid a theft. I applaud them for that. From a moral perspective this is defendable and my suspicion that we have more backing for BCH than you can see with your eye by following hash rate charts is now being revealed as true again.

But the dilemma BCH has is revealed again as well. we need more of the SHA-256 hash rate cake because we actually do not want that any entity in this space has more than 50% hash power.

*** EDIT 2 ***
Added Satoshi's quote from the whitepaper.
submitted by grmpfpff to btc [link] [comments]

Electroneum Mining Earn up to $50 a day on your mobile

While Bitcoin and Ethereum mining is not expensive and not very profitable for regular users, there are a wide variety of cryptocurrencies that offer an alternative. There is nothing simpler than Electroneum mining and it guarantees money.
What is Electroneum?
Electroneum (ETN) is an anonymous cryptocurrency that runs on the blockchain and is based on the Bytecoin cryptocurrency blockchain. Electroneum cryptocurrency was launched in 2017 by a team of developers at the head of Richard Ells: he wanted to create a cryptocurrency for the smartphone market and games and apps running on these devices. In 2017, the team organized an ICO (they collected $ 40 million earlier than planned) and launched iOS and Android apps for ETN mining.
An important feature of Electroneum is its availability and simplicity of counting. Most Bitcoin owners don’t really like that an asset consists of 100,000,000 satoshi — it complicates the calculations. Electroneum uses only two digits after the separator: Instead of “0.089151 BTC” you will see only 21.45 ETN.
Electroneum has what it takes to be a viable alternative to Bitcoin. Some of the features worth mentioning are:
.The transaction speed and security of the coins are as good as Bitcoin (and some even claim that Electroneum is safer). .It can be stored both in the cloud and in offline wallets. .The development team is impressive. The company consists of professional engineers, entrepreneurs and marketers. .It can be easily removed on a smartphone or other device.
In short, although Electroneum is based on its own chain, it has a lot in common with Bitcoin.
Is Electroneum Mining Profitable?
Electroneum cryptocurrency mining is very simple and affordable: those who don’t even have powerful computers can handle it. You can even use Electroneum on the background of the computer. But there is another distinctive point like below. Since Electroneum was created for use by smartphones, you can mining using your mobile phone.This is the most preferred and easiest
How to make Electroneum mining?
Many crypto owners believe that it is better to mine alone without a pool, but beginners are strongly recommended to start cryptocurrency mining with other participants. Pools allow you to receive payments every day, and Electroneum is supported by many platforms that differ in their commissions and reliability.
Electroneum Mining on Mobile Devices (Android and iOS)
You can earn Electroneum using your mobile phone. Follow these steps to install the app and register as a user:
(https://miro.medium.com/max/2871/1*iW72ofy33FzsOefJuJzcEg.jpeg)
“Download” Barcode reader from this link.
After installing the Barcode reader application on your phone, scan the barcode on the left side
Enter the Code when register the application: D65C7C
Check your email address to find an activation link
Enter your mobile phone. Enter the received SMS code in the field on the registration page.
If you lose your account PIN, enter an alternate email address where you can send recovery information.
Enter your PIN. You will need this every time you start the application or send a transaction.
Return to your inbox and click the link in the letter sent to you. This confirms that you have received a PIN recovery email. You can now enter the application.
This much. All you have to do is click the “Start mining” button.
You started making money
while mining phone
Electroneum Mining on Windows and Mac
Use xmr-stak-cpu software for Electroneum mining on CPU: Claymore provides a higher hash than CPU. The CPU version of this software is available from GitHub.
Download and then open the “config” file via any text editor. You should find the following lines in the text editor:
“Pool_address”: “pool.usxmrpool.com//333” “Wallet_address”: “ “Pool_password”: “
They need to be replaced:
“Pool_address”: “layer + ssl: / /etn-eu1.nanopool.org:13433” “wallet_address”: “Your ETN wallet address” “Pool_password”: “x”
Then look for the line:
“Cpu_threads_conf”: null,
And replace it with the following lines:
“Cpu_threads_conf”: [ {“Low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 0} {“Low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 1} {“low_power_mode”: false, “No_prefetch: true,” affine_to_cpu “: 2} {“ low_power_mode “: false,” no_prefetch “: true, “Affine_to_cpu”: 3} {“low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 3} {“low_power_mode”: false, “no_prefetch”: true, “affine_to_cpu”: 4} {“Low_power_mode”: false , “No_prefetch”: true, “affine_to_cpu”: 5},],
Each line connects the processor core separately. For example, if you have a 6-core processor, you can connect five cores and leave one for work. It is important that the first line starts from zero. Register and run the software.
Alternatively, you can try Electroneum mining GPU — there are both AMD and Nvidia options, but it means buying expensive graphics cards. The reward for a mined block is 7,000 ETN, which is quite generous. But is GPU mining worth the investment? You can check the profitability of electroneum mining here
summary
Electroneum mining is a simple and energy efficient way to earn ETN tokens. If you’re new to crypto mining, consider starting your experience with this coin — having some ETN coins in your crypto portfolio will never hurt.
Since it is a mobile-centric cryptocurrency, you can install Electroneum application on your smartphone and continue mining with a single click every day. This is a small source of passive income. Also, don’t forget to join an Electroneum mining rig.
submitted by tolga1500 to u/tolga1500 [link] [comments]

Verge Currency Beginner's Guide

Verge Currency Beginner's Guide
A short Background
2008 was the worst financial crisis the world had experience since the great depression. The efforts of banks worldwide were not enough to prevent its occurrence. Shortly after, someone by the name of Satoshi Nakamoto offered an alternative solution. A digital currency that removes the need for a central bank. His proposal written in the Bitcoin white paper, is summarized below:
  • A secure, decentralized network.
  • A system with economic properties.
  • No need for banks or rule makers.
  • Instant transactions without a need of a third party or government approval.
  • Bringing financial services to the unbanked 2.5 billion people.
  • Total financial freedom. No one can freeze your accounts.
  • Low transaction costs. No ridiculously high transaction fees.
  • A currency with finite amount where no one can print money whenever they want.
Bitcoin
In 2009, when Satoshi Nakamoto launched Bitcoin, the network consisted of computers (in crypto terms, these are called Nodes) to approve transactions, movements of data along the chain. This allows for everyone willing to become a participant, creating a decentralized global network. Allowing for a decentralized currency, free of the control of politicians, or institutions.
The rules can only be changed if 51% of the network agrees on it. This way the network is completely democratized and resistant to hacking attacks.
Unlike today’s financial institutions, no one can freeze your account or prevent you sending money. You are the only person who truly holds your wealth.
It is an open source project. Anyone can see the code and offer or discuss changes with the community. On the other hand, anyone participating to the network with computational power gets incentives or pay, with a fractional amount of BTC.
Blockchain
The core of a secure decentralized network like Bitcoin, lies the Blockchain technology. To put it simply, the blockchain is like a series of Lego, connected to each other by linking information, called transactions. These transactions contain the following data sender, receiver and the unique signature of the sender.
The data will be converted into “hash” before being saved into a block. The bitcoin hash is generated using a set of cryptographic functions called sha256. This way the information is encrypted, is compressed and saved in the block.
Additionally, each block in the chain, contains the information from the block before it. This ensures that if someone tries to maliciously modify information in a block, all the block following this attempt will be changed, making it easier to spot.
Each block includes the information from the previous block. If someone wants to maliciously change the information in one block that change the complete result of all following blocks.
In this type of network there is only one blockchain, and all the information is kept in a public ledger which is shared amongst all the participating networks. For the blockchain to be valid, more than 50% of the participants (nodes and their computational power) must agree with it.
Bitcoin Today (2018)
Until today many, many, events have happened. The network has grown massively. The underlying code is improved in many ways. There are more and more developers and investors that have entered the cryptocurrency space.
Currently there are proposed changes being developed to the Bitcoin network that will make bitcoin rival the centralized networks of today (Visa, Mastercard), while significantly lowering the cost of these transaction.
Many alternative cryptocurrencies have been created along the way, improving some of the aspects of the bitcoin and focusing on certain applications, in the crypto-space, we call them altcoins.
WHY VERGE
The way that Bitcoin function, has severe flaws with regards to privacy:
  • Public Ledger: The transaction information is public, meaning, that transactions can be linked to a person.
  • IP Leakage: A persistent and motivated attacker will be able to associate your IP address with your bitcoin transaction.
Due to the above reasons, it was clear that there would be a need for a privacy coin. Different coins were then created that had this problem in mind. They were ‘too private’ in the sense that they completely by-passed the public ledger. The public ledger allows merchant to provide proof of transactions, which is important for bookkeeping.
Enter Verge Currency, formerly Dogecoindark; which offers transaction on the ledger, both public and private. Allowing the user to choose if the transactions are public or private.
VERGE CURRENCY
2014 saw the birth of Dogecoin Dark; in 2016, it was rebranded to Verge Currency.
Verge improves upon the original Bitcoin blockchain and aims to fulfill its initial purpose of providing individuals and businesses with a fast, efficient and decentralized way of making direct transactions while maintaining your privacy.
What is the Verge Currency Mission?
Verge Currency aims to empower people around the globe using blockchain in everyday life and makes it possible for people to engage in transactions quickly, efficiently and privately. With Verge, business and individuals now have flexible options for sending and receiving payments.
Verge Currency also offer helpful integrations and tools that enable them to handle large scale transactions between merchants and small-scale private payments.
Is Verge Currency a private company and how is it funded?
Following in the spirit of Bitcoin, Verge is an open-source software, and a community. It is not a company, never had an ICO. The development is entirely funded by the community and the developers. Currently Verge is looking into setting up an official Verge merchandise store, and an Official Verge mining pool, for multiple algorithms.
Tech
General technical capabilities of XVG blockchain:
Protocol PoW (Proof of Work)
Algorithms Scrypt, X17, Lyra2rev2, myr-groestl and blake2s
Max Coin Supply 16.5 billion XVG
Circulation Supply 15.2 billion XVG
Minable yes
Atomic Swaps Enabled
Tx (Transaction) Speed 5-10 Seconds
Tps (Transactions per sec.) 100 (Will be ~2000 with RSK)
Tx Fee 0.1 XVG
Privacy Options:
Tor + I2P Networks fully obfuscated IP address / User's Location is hidden
Stealth Addresses It enables users to anonymously receive funds to their wallet. Therefore third parties are no longer able to track receivers addresses, nor are they able to combine official wallet addresses with their stealth addresses.
RING CT Under development
See our blackpaper V5.0 for detailed information.
Development Updates
Marketing Updates

Wallets
Mining

Community
Verge is a community-driven project. The community is the pillar of Verge, from the past to the future, the community built Verge. The community or Vergefam connects everyone from around the world, regardless of cultural background. The common vision is to provide everyone access to financial freedom, and the choice of privacy while transacting.
Below you can find the Verge Telegram communities from around the world;
Official Telegram
🇧🇷 🇵🇹 Brasil/Portugal/
🇨🇦 Canada
🇳🇴 🇸🇪 🇩🇰 Norway/Sweden/Denmark
🇩🇪 🇦🇹 🇨🇭 🇱🇮 Germany/Austria/Switzerland/Liechtenstein
🇵🇹 Portugal
🇪🇸 Spain
🇱🇺 Netherlands
🇹🇷 Turkey
🇫🇷 France
Balkan
🇵🇾 Croatia
🇦🇱 🇽🇰 Albania/Kosovo
🇷🇴 Romania
🇭🇺 Hungary
🇷🇺 Russia
🇮🇳 India
🇲🇾 Malaysia
🇯🇵 Japan
🇰🇷 Korea
🇨🇳 China
🇿🇦 South Africa
🔌Wallet Support
🖥️ Mining support
Mass Adoption
Low fees, quick transactions, high volume in circulation, multiplatform support, Wraith protocol are the ingredients that make Verge perfectly positioned for mass adoption. Transact on the public ledger for everyday purchases or stay private if you wish so.
Getting Started
You can find the matching instructions as below:
See the following useful links:

Official Links
Vergecurrency.com
Verge Team
Roadmap
FAQ
Github
Block Explorer 1
Block Explorer 2
Network Status
Telegram
Twitter
Facebook
Discord
Youtube
Medium
Investfeed
Verge Zendesk
VergeFora
Last Edit: Latest development update links are added to the Tech section.
submitted by Desolatorbtc to vergecurrency [link] [comments]

Time to discuss the elephant in the room. Nicehash 51% Attacks.

While I've argued for ProgPoW because I'm not a fan of ASIC manufactures because of their malicious business practices, I think we all know the real problem for PoW security, Hashrate Rental sites. Let's go through a short-list of coins that are listed on Nicehash, where hashpower could be bought and then executed a 51% attack.
Monacoin 51%
BitcoinGold 51%
EthereumClassic 51%
Vertcoin 51%
ZenCash(Now Horizen) 51%
BitcoinPrivate 51% (Ethical Hack)

Nicehash has been the #1 to go to "sell" hashpower for whatever coin they support for BTC and other rental services such as miningrigrental. While we cannot prove that this attacks were used by buying hashpower on nicehash, a ethical hacker Geocold lived streamed how easy it was to attack PoW coin BTCP. "using a couple of hundred dollars’ worth of rented hashpower he’d purchased from Nicehash with BTC" (bitcoin.com). We can assume then that other 51% attacks all follow this method.

Step 1. Buy more Hashpower than the current network using rental services
Step 2. moves coins on the true network to other addresses, makes deposits, then withdraws them to a safe addresses
Step 3. broadcast the untruthful chain to the network
Step 4. this reverts the truthful network.
Step 5. Profit.
Shockingly, several crypto-currencies not only were cheap to attack but also had plenty of hash rate for sale on NiceHash with which such an attack could take place. When 51% attacks were considered in the past, most calculations included the cost of hardware, electricity, and maintenance. But this new “rent-a-attack” method is proving dangerous for smaller networks. (ccn.com)
This is what happened to ETC recently. Few people who were using nicehash services commented that they noticed a pay-bump mining ETH-HASH.

One PoW altcoin team has set up a script to constantly monitor their hashrate. In the event of a spike of over 10%, they will be automatically notified. Should the newly added hashrate emanate from an unknown pool, or be in danger of tipping an existing pool over 50%, they have a large quantity BTC on standby with Nicehash ready to purchase their own firepower to counter the attack (bitcoin.com)
Again it shows the only way that people counter this is to over-bid/buy more hashrate.

While I understand PoS doesn't suffer from these type of attacks. However I find it unreasonable to say PoW is flawed because 51% attacks. Hashrental services we not envisioned by Satoshi's PoW. Any actual mining actors not using hash rentals would need a sizable amount of resources to perform a 51% and double-spend even on small cap coins. Nicehash takes your money and doesn't care.

The elephant Crypto needs to deal with it shutting off nicehash and rental services. After the nicehash hack I know I saw a sizable increase in profits because difficulty dropped on so many coins.

IMHO Nicehash needs to turn-off purchasing hashrate and instead turn to "auto-covert" where they mine the coin that's profitable that day and turn into bitcoin for the user. We wouldn't have the chance of 51% attacks.
submitted by Xazax310 to gpumining [link] [comments]

Some advice from a 15 year old. Only for Noobs I think.

Some people are going to find this stuff obvious... I am 15, I hope so.
  1. Start thinking in Satoshis (or whatever you trade in). You can buy Ark at $3.00 and sell at $3.20 and still lose money if you are going in and out of bitcoin and bitcoin had a larger percentage increase.
  2. If you can't grasp #1 don't even think about playing the market and day trading.
  3. Only percentage matters. $3.00 to $3.50 is a lot better than $3000 to $3400. Owning 5000 of one coin is no better than .3 of another. It's only about total value.
  4. Market cap matters. If you have dreams of a 10,000% in a year increase you should automatically know that means a tiny market cap coin most likely.
  5. measure everything vs. what you would own in BC or your coin of choice when playing alts. I know The exact amount I bought in with in total and what it's value would be in BC. .47 BC... If my alts are under .47 bitcoin when I cash out then I would have been much safer making a wallet and putting it in a safe.
5.5 Having said that. alts swing higher in highs and lower in lows. In a bear market I am never up percentage wise compared to a steady or bull market. which leads me to
5.6 If you are ever going to get out of the alt game and focus on the big 3 I suggest you do it on a market upswing.
6 Maximize your profits. Buying coins is sexy, trading is sexy, but learn about staking and ways to make your money work for you without the risk.
7 With FIAT.. you have to Think about FIAT to BTC to ALT almost like hitting two balls in a single shot in a pool shot. It's not just one calculation, it's two.
Anyways. Hopefully this doesn't border on shit post. I am just frustrated with the lack of understanding of the basics of people who have actual money to put in while I am sitting here like a shlub. I am sure there are hundreds of others. Feel free to add some or teach me something new.
submitted by shittymorphkarmasuck to CryptoCurrency [link] [comments]

Proof of Work Energy Use

The creation of proof of work protocol is for accomplishing accord between devices on a distributed network is ostensibly the most distinguished accomplishment of Bitcoin founder Satoshi Nakamoto. In doing so, he laid the groundwork for the revolutionary innovation that is blockchain. Proof of work also known as PoW is a consensus protocol presented by Bitcoin and utilized broadly by numerous different cryptocurrencies. This procedure is referred to as mining and as such the nodes on the network are known as “miners”. The proof of work comes in the form of a response to a mathematical problem, one that requires impressive work to arrive at,but is easily verified to be correct once the answer has been reached. The proof of work system is specifically designed to be difficult and require considerable computing power to ensure that too many Bitcoins are not mined too quickly, preserving a consistent supply and incentive for miners to maintain the network. Essentially, the security of the network is enforced physically by specialized hardware. As such, proof of work can be seen as not being an infinitely scalable protocol since the hardware and the electricity spent to power that hardware are limited in resources.
As far back as its commencement Bitcoin's trust-minimizing consensus has been empowered by its proof-of-work calculation. The machines performing the "work" are consuming huge amounts of energy while doing so. The Bitcoin Energy Consumption Index was made to to provide insight into this amount, and raise awareness on the unsustainability of the proof-of-work algorithm. This news creates awareness about the energy consumption and as it said to this article, Proof-of-work does function to prevent attacks, specifically denial-of-service attacks, and the security of the network is its greatest feature. While it is this large pool of machines that create the security of the network, it is also this massive number of miners that are constantly driving up the competition and leading to the current conversation regarding energy consumption. With this kind of issue alternatives were being made by some crypto companies to limit the energy consumption of the PoW protocol. Conserving the energy will positively affect the environment, it is possible to earn money and take care of the environment and through this kind of advancement limitations and alternatives are needed.
submitted by Nippondaisuki to CryptoMoonShots [link] [comments]

AN INTRODUCTION TO DIGIBYTE

DigiByte

What are cryptocurrencies?
Cryptocurrencies are peer to peer technology protocols which rely on the block-chain; a system of decentralized record keeping which allows people to exchange unmodifiable and indestructible information “coins,” globally in little to no time with little to no fees – this translates into the exchange of value as these coins cannot be counterfeit nor stolen. This concept was started by Satoshi Nakamoto (allegedly a pseudonym for a single man or organization) whom described and coded Bitcoin in 2009.
What is DigiByte?
DigiByte (DGB) is a cryptocurrency like Bitcoin. It is also a decentralized applications protocol in a similar fashion to Neo or Ethereum.
DigiByte was founded and created by Jared Tate in 2014. DigiByte allows for fast (virtually instant) and low cost (virtually free) transactions. DigiByte is hard capped at 21 billion coins which will ever be mined, over a period of 21 years. DigiByte was never an ICO and was mined/created in the same way that Bitcoin or Litecoin initially were.
DigiByte is the fastest UTXO PoW scalable block-chain in the world. We’ll cover what this really means down below.
DigiByte has put forth and applied solutions to many of the problems that have plagued Bitcoin and cryptocurrencies in general – those being:
We will address these point by point in the subsequent sections.
The DigiByte Protocol
DigiByte maintains these properties through use of various technological innovations which we will briefly address below.
Why so many coins? 21 Billion
When initially conceived Bitcoin was the first of a kind! And came into the hands of a few! The beginnings of a coin such as Bitcoin were difficult, it had to go through a lot of initial growth pains which following coins did not have to face. It is for this reason among others why I believe Bitcoin was capped at 21 million; and why today it has thus secured a place as digital gold.
When Bitcoin was first invented no one knew anything about cryptocurrencies, for the inventor to get them out to the public he would have to give them away. This is how the first Bitcoins were probably passed on, for free! But then as interest grew so did the community. For them to be able to build something and create something which could go on to have actual value, it would have to go through a steady growth phase. Therefore, the control of inflation through mining was extremely important. Also, why the cap for Bitcoin was probably set so low - to allow these coins to amass value without being destroyed by inflation (from mining) in the same way fiat is today! In my mind Satoshi Nakamoto knew what he was doing when setting it at 21 million BTC and must have known and even anticipated others would take his design and build on top of it.
At DigiByte, we are that better design and capped at 21 billion. That's 1000 times larger than the supply of Bitcoin. Why though? Why is the cap on DigiByte so much higher than that of Bitcoin? Because DigiByte was conceived to be used not as a digital gold, nor as any sort of commodity, but as a real currency!
Today on planet Earth, we are approximately 7.6 billion people. If each person should want or need to use and live off Bitcoin; then equally split at best each person could only own 0.00276315789 BTC. The market cap for all the money on the whole planet today is estimated to have recently passed 80 trillion dollars. That means that each whole unit of Bitcoin would be worth approximately $3,809,523.81!
$3,809,523.81
This is of course in an extreme case where everyone used Bitcoin for everything. But even in a more conservative scenario the fact remains that with such a low supply each unit of a Bitcoin would become absurdly expensive if not inaccessible to most. Imagine trying to buy anything under a dollar!
Not only would using Bitcoin as an everyday currency be a logistical nightmare but it would be nigh impossible. For each Satoshi of a Bitcoin would be worth much, much, more than what is realistically manageable.
This is where DigiByte comes in and where it shines. DigiByte aims to be used world-wide as an international currency! Not to be hoarded in the same way Bitcoin is. If we were to do some of the same calculations with DigiByte we'd find that the numbers are a lot more reasonable.
At 7.6 billion people, each person could own 2.76315789474 DGB. Each whole unit of DGB would be worth approximately $3,809.52.
$3,809.52
This is much more manageable and remember in an extreme case where everyone used DigiByte for everything! I don't expect this to happen anytime soon, but with the supply of DigiByte it would allow us to live and transact in a much more realistic and fluid fashion. Without having to divide large numbers on our phone's calculator to understand how much we owe for that cup of coffee! With DigiByte it's simple, coffee cost 1.5 DGB, the cinema 2.8 DGB, a plane ticket 500 DGB!
There is a reason for DigiByte's large supply, and it is a good one!
Decentralisation
Decentralisation is an important concept for the block-chain and cryptocurrencies in general. This allows for a system which cannot be controlled nor manipulated no matter how large the organization in play or their intentions. DigiByte’s chain remains out of the reach of even the most powerful government. This allows for people to transact freely and openly without fear of censorship.
Decentralisation on the DigiByte block-chain is assured by having an accessible and fair mining protocol in place – this is the multi-algorithm (MultiAlgo) approach. We believe that all should have access to DigiByte whether through purchase or by mining. Therefore, DigiByte is minable not only on dedicated mining hardware such as Antminers, but also through use of conventional graphics cards. The multi-algorithm approach allows for users to mine on a variety of hardware types through use of one of the 5 mining algorithms supported by DigiByte. Those being:
Please note that these mining algorithms are modified and updated from time to time to assure complete decentralisation and thus ultimate security.
The problem with using only one mining algorithm such as Bitcoin or Litecoin do is that this allows for people to continually amass mining hardware and hash power. The more hash power one has, the more one can collect more. This leads to a cycle of centralisation and the creation of mining centres. It is known that a massive portion of all hash power in Bitcoin comes from China. This kind of centralisation is a natural tendency as it is cheaper for large organisations to set up in countries with inexpensive electricity and other such advantages which may be unavailable to the average miner.
DigiByte mitigates this problem with the use of multiple algorithms. It allows for miners with many different kinds of hardware to mine the same coin on an even playing field. Mining difficulty is set relative to the mining algorithm used. This allows for those with dedicated mining rigs to mine alongside those with more modest machines – and all secure the DigiByte chain while maintaining decentralisation.
Low Fees
Low fees are maintained in DigiByte thanks to the MultiAlgo approach working in conjunction with MultiShield (originally known as DigiShield). MultiShield calls for block difficulty readjustment between every single block on the chain; currently blocks last 15 seconds. This continuous difficulty readjustment allows us to combat any bad actors which may wish to manipulate the DigiByte chain.
Manipulation may be done by a large pool or a single entity with a great amount of hash power mining blocks on the chain; thus, increasing the difficulty of the chain. In some coins such as Bitcoin or Litecoin difficulty is readjusted every 2016 blocks at approximately 10mins each and 2mins respectively. Meaning that Bitcoin’s difficulty is readjusted about every two weeks. This system can allow for large bad actors to mine a coin and then abandon it, leaving it with a difficulty level far too high for the present hash rate – and so transactions can be frozen, and the chain stopped until there is a difficulty readjustment and or enough hash power to mine the chain. In such a case users may be faced with a choice - pay exorbitant fees or have their transactions frozen. In an extreme case the whole chain could be frozen completely for extended periods of time.
DigiByte does not face this problem as its difficulty is readjusted per block every 15 seconds. This innovation was a technological breakthrough and was adopted by several other coins in the cryptocurrency environment such as Dogecoin, Z-Cash, Ubiq, Monacoin, and Bitcoin Gold.
This difficulty readjustment along with the MultiAlgo approach allows DigiByte to maintain the lowest fees of any UTXO – PoW – chain in the world. Currently fees on the DigiByte block-chain are at about 0.0001 DGB per transaction of 100 000 DGB sent. This depends on the amount sent and currently 100 000 DGB are worth around $2000.00 with the fee being less than 0.000002 cents. It would take 500 000 transactions of 100 000 DGB to equal 1 penny’s worth. This was tested on a Ledger Nano S set to the low fees setting.
Fast transaction times
Fast transactions are ensured by the conjunctive use of the two aforementioned technology protocols. The use of MultiShield and MultiAlgo allows the mining of the DigiByte chain to always be profitable and thus there is always someone mining your transactions. MultiAlgo allows there to a greater amount of hash power spread world-wide, this along with 15 second block times allows for transactions to be near instantaneous. This speed is also ensured by the use DigiSpeed. DigiSpeed is the protocol by which the DigiByte chain will decrease block timing gradually. Initially DigiByte started with 30 second block times in 2014; which today are set at 15 seconds. This decrease will allow for ever faster and ever more transactions per block.
Robust security + The Immutable Ledger
At the core of cryptocurrency security is decentralisation. As stated before decentralisation is ensured on the DigiByte block chain by use of the MultiAlgo approach. Each algorithm in the MultiAlgo approach of DigiByte is only allowed about 20% of all new blocks. This in conjunction with MultiShield allows for DigiByte to be the most secure, most reliable, and fastest UTXO block chain on the planet. This means that DigiByte is a proof of work (PoW) block-chain where all transactional activities are stored on the immutable public ledger world-wide. In DigiByte there is no need for the Lightning protocol (although we have it) nor sidechains to scale, and thus we get to keep PoW’s security.
There are many great debates as to the robustness or cleanliness of PoW. The fact remains that PoW block-chains remain the only systems in human history which have never been hacked and thus their security is maximal.
For an attacker to divert the DigiByte chain they would need to control over 93% of all the hashrate on one algorithm and 51% of the other four. And so DigiByte is immune to the infamous 51% attack to which Bitcoin and Litecoin are vulnerable.
Moreover, the DigiByte block-chain is currently spread over 200 000 plus servers, computers, phones, and other machines world-wide. The fact is that DigiByte is one of the easiest to mine coins there is – this is greatly aided by the recent release of the one click miner. This allows for ever greater decentralisation which in turn assures that there is no single point of failure and the chain is thus virtually un-attackable.
On Chain Scalability
The biggest barrier for block-chains today is scalability. Visa the credit card company can handle around 2000 transactions per second (TPS) today. This allows them to ensure customer security and transactional rates nation-wide. Bitcoin currently sits at around 7 TPS and Litecoin at 28 TPS (56 TPS with SegWit). All the technological innovations I’ve mentioned above come together to allow for DigiByte to be the fastest PoW block-chain in the world and the most scalable.
DigiByte is scalable because of DigiSpeed, the protocol through which block times are decreased and block sizes are increased. It is known that a simple increase in block size can increase the TPS of any block-chain, such is the case with Bitcoin Cash. This is however not scalable. The reason a simple increase in block size is not scalable is because it would eventually lead to some if not a great amount of centralization. This centralization occurs because larger block sizes mean that storage costs and thus hardware cost for miners increases. This increase along with full blocks – meaning many transactions occurring on the chain – will inevitably bar out the average miner after difficulty increases and mining centres consolidate.
Hardware cost, and storage costs decrease over time following Moore’s law and DigiByte adheres to it perfectly. DigiSpeed calls for the increase in block sizes and decrease in block timing every two years by a factor of two. This means that originally DigiByte’s block sizes were 1 MB at 30 seconds each at inception in 2014. In 2016 DigiByte increased block size by two and decreased block timing by the same factor. Perfectly following Moore’s law. Moore’s law dictates that in general hardware increases in power by a factor of two while halving in cost every year.
This would allow for DigiByte to scale at a steady rate and for people to adopt new hardware at an equally steady rate and reasonable expense. Thus so, the average miner can continue to mine DigiByte on his algorithm of choice with entry level hardware.
DigiByte was one of the first block chains to adopt segregated witness (SegWit in 2017) a protocol whereby a part of transactional data is removed and stored elsewhere to decrease transaction data weight and thus increase scalability and speed. This allows us to fit more transactions per block which does not increase in size!
DigiByte currently sits at 560 TPS and could scale to over 280 000 TPS by 2035. This dwarfs any of the TPS capacities; even projected/possible capacities of some coins and even private companies. In essence DigiByte could scale worldwide today and still be reliable and robust. DigiByte could even handle the cumulative transactions of all the top 50 coins in coinmarketcap.com and still run smoothly and below capacity. In fact, to max out DigiByte’s actual maximum capacity (today at 560 TPS) you would have to take all these transactions and multiply them by a factor of 10!
Oher Uses for DigiByte
Note that DigiByte is not only to be used as a currency. Its immense robustness, security and scalability make it ideal for building decentralised applications (DAPPS) which it can host. DigiByte can in fact host DAPPS and even centralised versions which rely on the chain which are known as Digi-Apps. This application layer is also accompanied by a smart contract layer.
Thus, DigiByte could host several Crypto Kitties games and more without freezing out or increasing transaction costs for the end user.
Currently there are various DAPPS being built on the DigiByte block-chain, these are done independently of the DigiByte core team. These companies are simply using the DigiByte block-chain as a utility much in the same way one uses a road to get to work. One such example is Loly – a Tinderesque consensual dating application.
DigiByte also hosts a variety of other platform projects such as the following:
The DigiByte Foundation
As previously mentioned DigiByte was not an ICO. The DigiByte foundation was established in 2017 by founder Jared Tate. Its purpose is as a non-profit organization dedicated to supporting and developing the DigiByte block-chain.
DigiByte is a community effort and a community coin, to be treated as a public resource as water or air. Know that anyone can work on DigiByte, anyone can create, and do as they wish. It is a permissionless system which encourages innovation and creation. If you have an idea and or would like to get help on your project do not hesitate to contact the DigiByte foundation either through the official website and or the telegram developer’s channel.
For this reason, it is ever more important to note that the DigiByte foundation cannot exist without public support. And so, this is the reason I encourage all to donate to the foundation. All funds are used for the maintenance of DigiByte servers, marketing, and DigiByte development.
DigiByte Resources and Websites
DigiByte
Wallets
Explorers
Please refer to the sidebar of this sub-reddit for more resources and information.
Edit - Removed Jaxx wallet.
Edit - A new section was added to the article: Why so many coins? 21 Billion
Edit - Adjusted max capacity of DGB's TPS - Note it's actually larger than I initially calculated.
Edit – Grammar and format readjustment
Hello,
I hope you’ve enjoyed my article, I originally wrote this for the reddit sub-wiki where it generally will most likely, probably not, get a lot of attention. So instead I've decided to make this sort of an introductory post, an open letter, to any newcomers to DGB or for those whom are just curious.
I tried to cover every aspect of DGB, but of course I may have forgotten something! Please leave a comment down below and tell me why you're in DGB? What convinced you? Me it's the decentralised PoW that really convinced me. Plus, just that transaction speed and virtually no fees! Made my mouth water!
-Dereck de Mézquita
I'm a student typing this stuff on my free time, help me pay my debts? Thank you!
D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
https://digiexplorer.info/address/D64fAFQvJMhrBUNYpqUKQjqKrMLu76j24g
submitted by xeno_biologist to Digibyte [link] [comments]

DISC may be a better choice if you didn’t seize the opportunity of Bitcoin

DISC may be a better choice if you didn’t seize the opportunity of Bitcoin
https://preview.redd.it/di9avv4gqx441.png?width=1211&format=png&auto=webp&s=eb92d1eaffc52764bfd4bb0f0c55dead94aabf26
At present, the mainstream consensus mechanism of the encryption world is the Proof of Work (POW) used by Bitcoin (BTC) and the Proof of Stake (POS) used by EOS. In addition, there are more than 30 kinds of consensus mechanisms such as Proof of Capacity (POC) in the encryption world. Among them, POC has caused extensive discussion. Together with POC, there is also the cryptocurrency Diskcoin in the POC ecosystem, a core algorithm based on POC, which aims to establish a cryptocurrency of a greener energy-saving mining system.
Before introducing POC and Diskcoin, you need to understand POW and BTC first.

Proof Of Work
Ten years ago, Satoshi Nakamoto took the POW into the BTC mining, which once brought more than 200 billion US dollars in economic value to human society. BTC can sit on the throne of the encrypted world, and POW is indispensable. The BTC changed the traditional business model and the role of “miners” was born.
With the development, the miners gradually increased and the competition more fierce. There are large miners, mining pools, mines and other organizations. Due to the emergence of these organizations, the limitations of BTC have gradually emerged. BTC is proud of its decentralization and is no longer decentralized.
At the same time, POW was gradually occupied by ASIC. More and more mining machine manufacturers began to participate in mining. The reward of mining was slowly monopolized by giants such as mining machine manufacturers and mining pools, and small miners lost the opportunity to compete on the same stage.
BTC has been labeled as a privileged label, and now, without enough assets, it is almost impossible to participate in BTC.

Proof Of Capacity
The original intention of Satoshi Nakamoto to design BTC is that everyone can participate in mining and participate in the casting of “currency”. Therefore, in the early BTC mining, only one ordinary computer was needed for calculation work. Now, if you want to use a computer to mine BTC, it is simply a dream. The mining is mainly based on GPU and ASIC mining machines. This makes the cost of mining and the difficulty of mining greatly increase. Most of the hashrate of the BTC full net has been controlled by a few mining pools.
Power energy is also consumed in large quantities. BTC currently has a total hashrate of 43.42EH/S. It is mainly based on the popular S9 ant mining machine currently on the market. The average S9 hashrate is 13TH/S. The converted BTC full net hashrate is equivalent to 3.34 million S9 mining machines! In use, the power of the S9 is 1500 watts, and the power consumption per day is 36 watts. The power consumption of one S9 per month is 1080 watts. If multiplied by 3.34 million machines, the power consumption of the BTC for one year up to 43.2 billion degrees! The BTC full net has consumed more than 159 countries a year, accounting for 0.2% of global electricity consumption!
Can the BTC face a new solution?
At this point, POC boarded the stage of the encrypted world and launched a competition with POW.

Principle of Proof Of Capacity
Before the mining starts, the POC will calculate in advance and the hash value calculated by shabal256 will be stored in the hardisk. This process is called Plotting.
The POC uses a hash algorithm called shabal256. Compared to the B256 sha256, the shabal256 algorithm requires a longer calculation and workload. The benefit of Shabal256 is that miners do not need to perform hash calculations during mining, so the verification process will be relatively fast, and shabal256 will also prevent cheating.
From this we can know that the energy consumption of POC mining is extremely small. Because the repetitive and large amount of calculations are required compared to the POW, the POC simply scans the stored data.
In order to make everyone understand the POC hard drive mining, I will give you a simple example. POC mining process is similar to the lottery in the hardisk, and the process of mining is that you only need to wait for the lottery to draw the prize, you will scan the lottery in the hardisk to confirm whether it is winning, nothing more.
Someone here may have doubts, will it be faster to use an SSD hard drive? The clear answer is, no. Because the POC only cares the capacity of the hardisk, the larger the capacity is, the more lottery tickets you store on the hardisk, the greater the probability that you win the prize, and this has nothing to do with what kind of hardisk you use, what brand of hardisk.
The POC has changed the traditional mining method, which not only reduces the energy consumption of mining, but also lower the threshold of mining, so that everyone can participate.

Diskcoin
Diskcoin, referred to as DISC. DISC, like Bitcoin, has a total of 21 million. Based on the consensus of hardisk capacity, DISC lowers the participation threshold and allows more participation in the casting of coins, which is more conducive to the realization of decentralization.
DISC uses an upgraded version of the POC algorithm - CPOC Conditioned Proof Of Capacity.
Miners need to Stake Diskcoin to get the most reward. The ratio of Staking is not fixed or gradually reduced. Instead, an algorithmic mechanism called DES (Dynamic Equilibrium Staking) is used to adjust the Staking ratio based on the difficulty of mining. DISC's Staking economy model makes it impossible for miners to sell tokens without restrictions. This initiative is also to maintain the healthy and stable development of the DISC ecosystem.
Supply and demand are very important in economics. Supply and demand are the most direct factors for the decline in commodity prices, and the most effective market feedback. DISC's economic model ensures that the circulation of its currency is stable, keeping it in balance with the number of markets.
CPoC mining combines miners with the entire ecological interests, and replaces the originally consumed power resources with tokens as new production materials, so that the entire ecosystem of DISC continues to expand independently, forming a virtuous cycle system.
submitted by Diskcoin to DiskcoinOrg [link] [comments]

Bitcoin, dogecoin. How I tried to make my fortune in 2014 with the sweat of my computer.

Bitcoin, dogecoin. How I tried to make my fortune in 2014 with the sweat of my computer.

https://preview.redd.it/mv21lvsa3do31.jpg?width=1280&format=pjpg&auto=webp&s=51bf5296a06eedc178079cf0b3ab4c3cfc44f271
Make money just by working on your computer: the rise of electronic currencies, in the wake of bitcoin, can be a little dream, especially in times of crisis. We tried the experiment. Wealth at your fingertips? Not for everybody.
Reading time: 6 min.
We have known at least since March 2013, with the soaring Bitcoin (BTC) price during the closing of Cypriot banks: electronic currencies, it has not much virtual. Since the creation of the enigmatic Satoshi Nakamoto serves as a safe haven, a playground for speculators, interests the States and even makes it possible to pay for his trip to the space where his beer, bigger world would dare to pretend that it only serves to buy prohibited substances on SilkRoad - if it ever was.
At the end of November, James Howells was mocked a lot, this Brit, caught in a household frenzy, inadvertently threw a hard disk containing 7,500 bitcoins, the equivalent of 4.8 million euros. A small fortune now lost in the depths of the Docksway dump near Newport. Nevertheless, before causing the consternation of the global Internet, Jamie still had the nose to undermine the BTC at a time when the experience mobilized a handful of hardcore geeks.
Since the rise (sawtooth) bitcoin, each unit currently weighs more than 800 dollars, nearly thirty cryptocurrencies have emerged. Is it possible, this year again, to let this promising, volatile and risky train pass, or to fall into
  1. Choose your electronic motto.
  2. All are based on the same principle: to summarize (very) big features [1], the issuance of money is governed by an algorithm, and the new corners put in circulation reward the resolution, by participants in a network of peer and mathematical problems, including the validation and archiving of transactions, which are public [2]. Mining a cryptocurrency is like putting the computing power of your computer in the service of the network.
  3. Since the program is decreasing [3], the mining becomes more and more difficult with time (and with the increase of the number of participants): to hope to make his pelote via the only computational activity, one must either have to at its disposal a large fleet of machines, to be a miner from the first hour. Exit the bitcoin, long since out of the reach of a personal computer.
  4. I similarly gave up the litecoin and peercoin, already well launched (they date respectively 2011 and 2012), to set my heart on one of the most recent currencies - and certainly the hippest of the moment: the dogecoin.
  5. As its name suggests, the cryptocurrency favorite Shiba Inus from around the world is a tribute to the Doge, one of the most famous memes of 2013, with its captions in Comic Sans, the font most sorry for the web. A geek joke, therefore, except that - the unfathomable mysteries of the Internet - its value jumped 900% in the third week of December, and she suffered a Christmas robbery online.
  6. Admittedly, at the time when these lines are written, the dogecoin caps at 0.00023 dollars [4] - its quite ridiculous (and quite depressing), but even if you bet on the future, so much to go frankly.
  7. 2. The hands in the engine the billboard.
  8. From there, things get tough (a little). Installing an electronic purse on ones computer is not very complicated (the software is available for Windows, MacOS, Android or, for the more adventurous, on a repository to compile under Linux). It is also possible to use an online wallet, but it is more risky (except, perhaps, when one is called James Howells). When opened for the first time, the purse automatically synchronizes with the Dogecoin network (be careful, it can be long), which gives you a payment address (we can generate more later).
  9. The two most common ways to undermine electronic money are to use the computing power of the computers microprocessor (CPU) or, more efficiently, that of the graphics card processor (GPU). In the first case, the program is simple to install; in the second, it is necessary to choose the most adapted to its material [5]. There are, thankfully, a lot of online tutorials. Still, to operate the corner board requires in all cases to trade the comfort of the GUI for aridity, so confusing to the layman, command lines - we have nothing for nothing.
  10. Finally, at work alone, we prefer collaboration. Mining is best done in groups, or rather in pool: it distributes the gains, of course, but also the difficulty. For the dogecoin as for all the crypto-currencies, the pools are numerous. A quick tour of a dedicated section of the Reddit community site can help you make your choice.
  11. 3. Extension of the field of struggle.
  12. And after? After, we can rest, since it is the machine that works. But the truth of a cryptocurrency - even at the exceptionally high LOL and LOL rates of the Shiba Inu - is cruel and brutal: not all computers are equal. Or rather, some are more equal than others. For while you heat your CPU or your graphics card to grapple some unfortunate corners, others will sweep the game thanks to specialized integrated circuits, computing capabilities much higher.
  13. If the game of buying and reselling corners is basically just another stock exchange mechanism, less the intervention of the central banks - what is at stake, and the big political question they ask: are we certain to prefer speculation pure and perfect to monetary policies, however questionable they may be? -, production, it is the law of the strongest (in calculation). There are even lethal weapons at $ 10,000 each, with which your processors are like mosquitoes in front of an A bomb.
  14. And if you think it does not matter because after all, it does not cost you anything, think again: the components, like humans, wear out faster when they work at full speed, and the bill of electricity can quickly grow. The profitability of the case is anything but certain, as evidenced by the results of online calculators. (Needless to say, our laughing dogecoin does not stand up to this kind of simulation.)
  15. Much more boring, from a collective point of view: the carbon footprint, current and above all expected, of electronic currencies worries more and more. Last spring, Bloomberg estimated that the energy consumption of the Bitcoin network was equivalent to that of 31,000 US households. Not sure, according to the site, that their emission is less damaging to the environment than have been some physical currencies.
  16. For exciting to analyze that is the emergence of cryptocurrencies, it is better to ask now about their cost, economic and ecological. To see it as a potential source of income, except for being a very early adopter with a hollow nose, an individual with a lot of computational capital or a clever trader, you have to make a point.
  17. If the recurrent comparison with the famous Ponzi pyramid [6] is discussed (after all, the decentralized currencies do not make promises), remains that, as long as the value does not collapse, the system benefits mainly to the first entrants - except James Howells.
  18. As the Bitcoin.fr site aptly states: all this is just an experiment, invest only the time and money you can afford to lose. LOLs love was not a worse reason than another to experiment, so I finally submitted my laptop to four days and three nights of intense activity, which makes me happy. owner of a good half a thousand dogecoins. Either the equivalent of 0.115 dollar, or 0.08 euro. It is obviously not worth the electricity consumed to generate them, it increases my carbon footprint, but it amuses my entourage. But laughter is, as everyone knows, a safe bet in times of crisis, less volatile than a real bitcoin.
  19. And then, after all, you never know.
  20. Amaelle Guiton.
  21. 1. For explanations more provided (the case is quite complex), refer, for example, to the series of very detailed notes devoted to blogger Turblog.
  22. 2. And as such, searchable by everyone. It is the identity of the users that is not known, unless they reveal it, hence the reputation of anonymity (relative, therefore) cryptocurrencies.
  23. 3. In the case of bitcoin, the maximum of 21 million units should be reached around 2140.
  24. 4. For a day-to-day follow-up, see the CoinMarketCap site which lists the exchange rates of crypto-currencies, based on the dollar value of bitcoin.
  25. 5. We discover then, unfortunately, that some graphics cards do not allow the mining. This is the case for the author of these lines, reduced to working in conditions of extreme computer deprivation.
  26. 6. Comparison which is at the heart of a hilarious note on the ponzicoin, signed by the economic journalist Matthew OBrien, on The Atlantic (to read if you intend seriously to invest in the dogecoin).
submitted by Mejbah411 to u/Mejbah411 [link] [comments]

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