[uncensored-r/Bitcoin] Now over 8,000 signatures on the Coinbase SegWit petition. Please take 30 seconds to support this...
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Remember, there are other exchanges and wallets watching. This isn’t just about Coinbase. If this petition convinces a popular single exchange or wallet to implement SegWit, it’s worth every second! Thanks bitcoin
[uncensored-r/Bitcoin] Petition to Bring SegWit to Coinbase nears 5,000 signatures
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Ultimate glossary of crypto currency terms, acronyms and abbreviations
A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong. In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things. What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do. You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us. At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no alternative solution to this problem was forthcoming. Today, thanks to a confluence of established techniques and recent innovations, we have solved the accessibility problem without resorting to centralization. Hashing, encryption, and erasure encoding got us most of the way, but one barrier remained: incentives. How do you incentivize an anonymous stranger to store your data? Earlier protocols like BitTorrent worked around this limitation by relying on altruism, tit-for-tat requirements, or "points" – in other words, nothing you could pay your electric bill with. Finally, in 2009, a solution appeared: Bitcoin. Not long after, Sia was born. Cryptography has unleashed the latent power of the internet by enabling interactions between mutually-distrustful parties. Sia harnesses this power to turn the cloud storage market into a proper marketplace, where buyers and sellers can transact directly, with no intermediaries, anywhere in the world. No more silos or walled gardens: your data is encrypted, so it can't be spied on, and it's stored on many servers, so no single entity can hold it hostage. Thanks to projects like Sia, the internet is being re-decentralized. Sia began its life as a startup, which means it has always been subjected to two competing forces: the ideals of its founders, and the profit motive inherent to all businesses. Its founders have taken great pains to never compromise on the former, but this often threatened the company's financial viability. With the establishment of the Sia Foundation, this tension is resolved. The Foundation, freed of the obligation to generate profit, is a pure embodiment of the ideals from which Sia originally sprung. The goals and responsibilities of the Foundation are numerous: to maintain core Sia protocols and consensus code; to support developers building on top of Sia and its protocols; to promote Sia and facilitate partnerships in other spheres and communities; to ensure that users can easily acquire and safely store siacoins; to develop network scalability solutions; to implement hardforks and lead the community through them; and much more. In a broader sense, its mission is to commoditize data storage, making it cheap, ubiquitous, and accessible to all, without compromising privacy or performance. Sia is a perfect example of how we can achieve better living through cryptography. We now begin a new chapter in Sia's history. May our stewardship lead it into a bright future.
Today, we are proposing the creation of the Sia Foundation: a new non-profit entity that builds and supports distributed cloud storage infrastructure, with a specific focus on the Sia storage platform. What follows is an informal overview of the Sia Foundation, covering two major topics: how the Foundation will be funded, and what its funds will be used for.
The Sia Foundation will be structured as a non-profit entity incorporated in the United States, likely a 501(c)(3) organization or similar. The actions of the Foundation will be constrained by its charter, which formalizes the specific obligations and overall mission outlined in this document. The charter will be updated on an annual basis to reflect the current goals of the Sia community. The organization will be operated by a board of directors, initially comprising Luke Champine as President and Eddie Wang as Chairman. Luke Champine will be leaving his position at Nebulous to work at the Foundation full-time, and will seek to divest his shares of Nebulous stock along with other potential conflicts of interest. Neither Luke nor Eddie personally own any siafunds or significant quantities of siacoin.
The primary source of funding for the Foundation will come from a new block subsidy. Following a hardfork, 30 KS per block will be allocated to the "Foundation Fund," continuing in perpetuity. The existing 30 KS per block miner reward is not affected. Additionally, one year's worth of block subsidies (approximately 1.57 GS) will be allocated to the Fund immediately upon activation of the hardfork. As detailed below, the Foundation will provably burn any coins that it cannot meaningfully spend. As such, the 30 KS subsidy should be viewed as a maximum. This allows the Foundation to grow alongside Sia without requiring additional hardforks. The Foundation will not be funded to any degree by the possession or sale of siafunds. Siafunds were originally introduced as a means of incentivizing growth, and we still believe in their effectiveness: a siafund holder wants to increase the amount of storage on Sia as much as possible. While the Foundation obviously wants Sia to succeed, its driving force should be its charter. Deriving significant revenue from siafunds would jeopardize the Foundation's impartiality and focus. Ultimately, we want the Foundation to act in the best interests of Sia, not in growing its own budget.
The Foundation inherits a great number of responsibilities from Nebulous. Each quarter, the Foundation will publish the progress it has made over the past quarter, and list the responsibilities it intends to prioritize over the coming quarter. This will be accompanied by a financial report, detailing each area of expenditure over the past quarter, and forecasting expenditures for the coming quarter. Below, we summarize some of the myriad responsibilities towards which the Foundation is expected to allocate its resources.
Maintain and enhance core Sia software
Arguably, this is the most important responsibility of the Foundation. At the heart of Sia is its consensus algorithm: regardless of other differences, all Sia software must agree upon the content and rules of the blockchain. It is therefore crucial that the algorithm be stewarded by an entity that is accountable to the community, transparent in its decision-making, and has no profit motive or other conflicts of interest. Accordingly, Sia’s consensus functionality will no longer be directly maintained by Nebulous. Instead, the Foundation will release and maintain an implementation of a "minimal Sia full node," comprising the Sia consensus algorithm and P2P networking code. The source code will be available in a public repository, and signed binaries will be published for each release. Other parties may use this code to provide alternative full node software. For example, Nebulous may extend the minimal full node with wallet, renter, and host functionality. The source code of any such implementation may be submitted to the Foundation for review. If the code passes review, the Foundation will provide "endorsement signatures" for the commit hash used and for binaries compiled internally by the Foundation. Specifically, these signatures assert that the Foundation believes the software contains no consensus-breaking changes or other modifications to imported Foundation code. Endorsement signatures and Foundation-compiled binaries may be displayed and distributed by the receiving party, along with an appropriate disclaimer. A minimal full node is not terribly useful on its own; the wallet, renter, host, and other extensions are what make Sia a proper developer platform. Currently, the only implementations of these extensions are maintained by Nebulous. The Foundation will contract Nebulous to ensure that these extensions continue to receive updates and enhancements. Later on, the Foundation intends to develop its own implementations of these extensions and others. As with the minimal node software, these extensions will be open source and available in public repositories for use by any Sia node software. With the consensus code now managed by the Foundation, the task of implementing and orchestrating hardforks becomes its responsibility as well. When the Foundation determines that a hardfork is necessary (whether through internal discussion or via community petition), a formal proposal will be drafted and submitted for public review, during which arguments for and against the proposal may be submitted to a public repository. During this time, the hardfork code will be implemented, either by Foundation employees or by external contributors working closely with the Foundation. Once the implementation is finished, final arguments will be heard. The Foundation board will then vote whether to accept or reject the proposal, and announce their decision along with appropriate justification. Assuming the proposal was accepted, the Foundation will announce the block height at which the hardfork will activate, and will subsequently release source code and signed binaries that incorporate the hardfork code. Regardless of the Foundation's decision, it is the community that ultimately determines whether a fork is accepted or rejected – nothing can change that. Foundation node software will never automatically update, so all forks must be explicitly adopted by users. Furthermore, the Foundation will provide replay and wipeout protection for its hard forks, protecting other chains from unintended or malicious reorgs. Similarly, the Foundation will ensure that any file contracts formed prior to a fork activation will continue to be honored on both chains until they expire. Finally, the Foundation also intends to pursue scalability solutions for the Sia blockchain. In particular, work has already begun on an implementation of Utreexo, which will greatly reduce the space requirements of fully-validating nodes (allowing a full node to be run on a smartphone) while increasing throughput and decreasing initial sync time. A hardfork implementing Utreexo will be submitted to the community as per the process detailed above. As this is the most important responsibility of the Foundation, it will receive a significant portion of the Foundation’s budget, primarily in the form of developer salaries and contracting agreements.
Support community services
We intend to allocate 25% of the Foundation Fund towards the community. This allocation will be held and disbursed in the form of siacoins, and will pay for grants, bounties, hackathons, and other community-driven endeavours. Any community-run service, such as a Skynet portal, explorer or web wallet, may apply to have its costs covered by the Foundation. Upon approval, the Foundation will reimburse expenses incurred by the service, subject to the exact terms agreed to. The intent of these grants is not to provide a source of income, but rather to make such services "break even" for their operators, so that members of the community can enrich the Sia ecosystem without worrying about the impact on their own finances.
Ensure easy acquisition and storage of siacoins
Most users will acquire their siacoins via an exchange. The Foundation will provide support to Sia-compatible exchanges, and pursue relevant integrations at its discretion, such as Coinbase's new Rosetta standard. The Foundation may also release DEX software that enables trading cryptocurrencies without the need for a third party. (The Foundation itself will never operate as a money transmitter.) Increasingly, users are storing their cryptocurrency on hardware wallets. The Foundation will maintain the existing Ledger Nano S integration, and pursue further integrations at its discretion. Of course, all hardware wallets must be paired with software running on a computer or smartphone, so the Foundation will also develop and/or maintain client-side wallet software, including both full-node wallets and "lite" wallets. Community-operated wallet services, i.e. web wallets, may be funded via grants. Like core software maintenance, this responsibility will be funded in the form of developer salaries and contracting agreements.
Protect the ecosystem
When it comes to cryptocurrency security, patching software vulnerabilities is table stakes; there are significant legal and social threats that we must be mindful of as well. As such, the Foundation will earmark a portion of its fund to defend the community from legal action. The Foundation will also safeguard the network from 51% attacks and other threats to network security by implementing softforks and/or hardforks where necessary. The Foundation also intends to assist in the development of a new FOSS software license, and to solicit legal memos on various Sia-related matters, such as hosting in the United States and the EU. In a broader sense, the establishment of the Foundation makes the ecosystem more robust by transferring core development to a more neutral entity. Thanks to its funding structure, the Foundation will be immune to various forms of pressure that for-profit companies are susceptible to.
Drive adoption of Sia
Although the overriding goal of the Foundation is to make Sia the best platform it can be, all that work will be in vain if no one uses the platform. There are a number of ways the Foundation can promote Sia and get it into the hands of potential users and developers. In-person conferences are understandably far less popular now, but the Foundation can sponsor and/or participate in virtual conferences. (In-person conferences may be held in the future, permitting circumstances.) Similarly, the Foundation will provide prizes for hackathons, which may be organized by community members, Nebulous, or the Foundation itself. Lastly, partnerships with other companies in the cryptocurrency space—or the cloud storage space—are a great way to increase awareness of Sia. To handle these responsibilities, one of the early priorities of the Foundation will be to hire a marketing director.
The Foundation Fund will be controlled by a multisig address. Each member of the Foundation's board will control one of the signing keys, with the signature threshold to be determined once the final composition of the board is known. (This threshold may also be increased or decreased if the number of board members changes.) Additionally, one timelocked signing key will be controlled by David Vorick. This key will act as a “dead man’s switch,” to be used in the event of an emergency that prevents Foundation board members from reaching the signature threshold. The timelock ensures that this key cannot be used unless the Foundation fails to sign a transaction for several months. On the 1st of each month, the Foundation will use its keys to transfer all siacoins in the Fund to two new addresses. The first address will be controlled by a high-security hot wallet, and will receive approximately one month's worth of Foundation expenditures. The second address, receiving the remaining siacoins, will be a modified version of the source address: specifically, it will increase the timelock on David Vorick's signing key by one month. Any other changes to the set of signing keys, such as the arrival or departure of board members, will be incorporated into this address as well. The Foundation Fund is allocated in SC, but many of the Foundation's expenditures must be paid in USD or other fiat currency. Accordingly, the Foundation will convert, at its discretion, a portion of its monthly withdrawals to fiat currency. We expect this conversion to be primarily facilitated by private "OTC" sales to accredited investors. The Foundation currently has no plans to speculate in cryptocurrency or other assets. Finally, it is important that the Foundation adds value to the Sia platform well in excess of the inflation introduced by the block subsidy. For this reason, the Foundation intends to provably burn, on a quarterly basis, any coins that it cannot allocate towards any justifiable expense. In other words, coins will be burned whenever doing so provides greater value to the platform than any other use. Furthermore, the Foundation will cap its SC treasury at 5% of the total supply, and will cap its USD treasury at 4 years’ worth of predicted expenses. Addendum: Hardfork Timeline We would like to see this proposal finalized and accepted by the community no later than September 30th. A new version of siad, implementing the hardfork, will be released no later than October 15th. The hardfork will activate at block 293220, which is expected to occur around 12pm EST on January 1st, 2021.
Addendum: Inflation specifics The total supply of siacoins as of January 1st, 2021 will be approximately 45.243 GS. The initial subsidy of 1.57 GS thus increases the supply by 3.47%, and the total annual inflation in 2021 will be at most 10.4% (if zero coins are burned). In 2022, total annual inflation will be at most 6.28%, and will steadily decrease in subsequent years.
We see the establishment of the Foundation as an important step in the maturation of the Sia project. It provides the ecosystem with a sustainable source of funding that can be exclusively directed towards achieving Sia's ambitious goals. Compared to other projects with far deeper pockets, Sia has always punched above its weight; once we're on equal footing, there's no telling what we'll be able to achieve. Nevertheless, we do not propose this change lightly, and have taken pains to ensure that the Foundation will act in accordance with the ideals that this community shares. It will operate transparently, keep inflation to a minimum, and respect the user's fundamental role in decentralized systems. We hope that everyone in the community will consider this proposal carefully, and look forward to a productive discussion.
Recently Vin Armani suggested that u can't own bitcoins, cos it's just a number. I disagree. Ownership means exclusive rights to posses and use at one's pleasure. First of all, bitcoins aren't numbers, private keys are. U can guess any private key in principle (such event would be similar to losing/finding a banknote with far slimmer chances). But bitcoins themselves are part of social contract of Bitcoin network, now with family of chains no less. When billions of bitcoins were created due to a bug on BTC in 2010, the social contract was breached and people wrote code and took measures to restore it. When Bitcoin Gold/Diamond and others were created with much higher supply, social contract evolved and now we've power law distribution of value and attention, chains with major changes are in the tail U can prove ownership of crypto in different ways:
first-grade proof is a signature of these coins that no one else can provide
second-grade proof is culture - I know that Satoshi owns up to 1mln coins from various sources of evidence, so if anyone claims its theirs, they have to provide if not first-grade proof (say, keys were lost), then big enough cultural proof, the pile of evidence - which Craig is obviously failed to do cos he's a fraud. With Memo (and even earlier - with Genesis coinbase) history of cultural events, especially important ones, is starting to be recorded on the chain which elevates weight of such second-grade proofs. Sooner or later courts will recognize it in inevitable disputes over crypto ownership
On ViaBTC's Bitcoin Cat initiative and circulating ideas about forking BSV to give Craig Satoshi's coins without Satoshi's keys: Touching someone else's (by admitting u don't have the keys in a form of arbitrary protocol change) UTXOs will be theft, violation of NAP. It's a lesser violation with Bitcoin Cat cos it seems that they don't intend to takeover the main chain (Satoshi's and others' coins on BCH will be safe), it's not exactly theft in pre-2009 era, but it's still a violation - clean start with a new rule ("give this foundation X coins after Y block") would be preferable and in accordance with voluntarism. All violations of NAP should be answered with minimum necessary force (judged by the defendant), so I suggest to loudly call Haipo's actions "theft" until his protocol change will be a clear fork. If it ever actually happens at all, ofc UPD: two additional examples when ownership mattered: DAO hack on ETH and orpahned Prohashing's block with Segwit-anyone-can-spend txs on BCH
The payouts are small but over time they add up to a good chunk, enough to challenge those who still believe that “there is no such thing as a free lunch.” The crypto industry has created many opportunities for individuals to realize their dreams of financial freedom, but it’s worth pointing out that, whatever you find out there, if it looks too good to be true probably is.
A faucet is usually a website or app that offers the user a small amount of crypto in exchange for performing a task. Most of the time the task required is completing a simple captcha, but it can also be watching an ad or playing minigames. A faucet makes money via the ads on its platform, and shares some of the revenue with its users in the form of cryptocurrency. There is a timer, however, you can’t reclaim money from the faucet every minute, and also a minimum withdrawal requirement, meaning that you will only be able to reclaim the free Ethereum to your wallet after a certain amount. Ethereum faucets won’t offer a huge flow of value but patiently, drop by drop, you can earn a sizable amount.
Put simply airdrops are giveaways, the definition of free money. So why would someone do something like that? Let’s imagine a new crypto project is looking to launch their own token and fund their operations through an initial coin offering (ICO) or another fund raising mechanism. One good way projects use to get the word out there and build a community is to giveaway a portion of their tokens in an airdrop. It is important to note that airdrops won’t earn you Ethereum directly. The good news is that the majority of tokens use the Ethereum blockchain (ERC-20) and can be kept in your ETH wallet and easily sold for some free Ethereum once listed on exchanges. There are various platforms out there where one can track the latest airdrops.
Bounty campaigns are a tool used by new crypto projects to help them get some initial traction and online buzz. The participants are required to do simple tasks such as leaving a like, comment, or sharing social media posts from a certain crypto project. The most used social media platforms are Facebook, Telegram, and Twitter and the rewards are proportional to how big of a following you have on these platforms. Other common tasks include translation work, creating your own blog post and/or video content, and signature campaigns on the Bitcointalk forum, where most recent bounties appear. Once the bounty campaign comes to a halt, the newly minted tokens are distributed throughout the participants of the bounty campaign. As most new tokens are ERC20 tokens, they can easily be exchanged for some free Ethereum once listed on exchanges
Work for Ethereum
Yes, I know what you are thinking. Is it free Ethereum if we still have to work for it? No, but the upside is that it can pay way better than the other alternatives listed. The diversity of jobs offered is the same as other freelancing platforms with the difference that the jobs are paid in cryptocurrency, in this case ether. If you have some skills in design, writing, or coding (just to name a few) it might be wise to take a look at cryptogrind or XBTFreelancer. Reaching out to crypto businesses directly may also do the trick, as some are always looking for talent to help them out. Even if most don’t reply or turn you down, companies are now more than ever seeking talent in the crypto and blockchain space, so keep trying.
Referral Links for Crypto Exchanges
This one is good for those out there with friends that are also crypto savvy. Various exchanges offer affiliate programs where you get paid out for inviting your friends and colleagues onto their platform. Exchanges like Coinbase offer a one time payment when a new person joins their platform while others like Cryptmixer, for example, gives its members an impressive 50% of the revenue from the new clients they bring in. You can also use their exchange to swap the Bitcoin you receive to Ether, making it a great way to earn ETH.
The Bottom Line
Some methods involve a lot of work, others don’t require much of anything. Some you need to already own Ethereum, while others allow you to start from zero (although the payout is considerably smaller). Crypto has made value accessible to anyone with an internet connection, so choose the one method that best fits your needs and skills and you will be carving out your own space in the cryptosphere, starting with some free Ethereum.
Even More Satoshi-era Bitcoin Moves—What's Going on?
Even More Satoshi-era Bitcoin Moves—What's Going on? Another batch of 50 Bitcoin (BTC)—that has been lying dormant since 2010 and is worth around $570,000 today—was moved today, according to Blockchain.com. The block explorer’s data shows that these 50 coins were first transferred to the address on November 9, 2010, as a coinbase transaction. This means the Bitcoin was a block reward received by a miner. The wallet hadn’t received or sent any other transactions—until today. The only exception is 0.00000547 BTC that was sent to the address in late August as part of a spam-like transaction aimed at over 300 different wallets. Most likely, that was a so-called “dusting attack” primarily used by malicious actors to trace BTC movements. Today, the coins have been transferred to three different addresses: two Bech32 (a SegWit format) and one P2SH, mainly used for multi-signature and non-native SegWit transactions. The transfers were 30.16, 12.48 and 7.34 BTC, in size. Upon confirmation, the new wallets split the coins into 2–3 additional transactions each and sent them further down the line. As Decrypt reported, increasingly more coins from the earliest days of Bitcoin are “waking up” lately. Since the start of October, two large caches—50 BTC ($570,000) and 1,000 BTC ($11.4 million)—were moved out of their deep slumber. Prior to that, another batch of 50 BTC was transferred in May. Yet, not everyone thinks this is a big deal. Referring to today's movement of coins, Ingo Fiedler, co-founder of Blockchain Research Lab, told Decrypt, "Those coins were minted nearly two years after network launch. I would not consider them satoshi-era Bitcoin and do not see any significance in them moving." It's not as though Satoshi is returning, right? 📷 Telegram TOTBTC: https://t.me/TOTBTCofficial 📷 Register at: https://www.totbtc.com/register #TOTBTC#BTC#BTCPMOVES#SATOSHI
Scaling Reddit Community Points with Arbitrum Rollup: a piece of cake
https://preview.redd.it/b80c05tnb9e51.jpg?width=2550&format=pjpg&auto=webp&s=850282c1a3962466ed44f73886dae1c8872d0f31 Submitted for consideration toThe Great Reddit Scaling Bake-Off Baked by the pastry chefs atOffchain Labs Please send questions or comments to [[email protected] ](mailto:[email protected]) 1. Overview We're excited to submit Arbitrum Rollup for consideration to The Great Reddit Scaling Bake-Off. Arbitrum Rollup is the only Ethereum scaling solution that supports arbitrary smart contracts without compromising on Ethereum's security or adding points of centralization. For Reddit, this means that Arbitrum can not only scale the minting and transfer of Community Points, but it can foster a creative ecosystem built around Reddit Community Points enabling points to be used in a wide variety of third party applications. That's right -- you can have your cake and eat it too! Arbitrum Rollup isn't just Ethereum-style. Its Layer 2 transactions are byte-for-byte identical to Ethereum, which means Ethereum users can continue to use their existing addresses and wallets, and Ethereum developers can continue to use their favorite toolchains and development environments out-of-the-box with Arbitrum. Coupling Arbitrum’s tooling-compatibility with its trustless asset interoperability, Reddit not only can scale but can onboard the entire Ethereum community at no cost by giving them the same experience they already know and love (well, certainly know). To benchmark how Arbitrum can scale Reddit Community Points, we launched the Reddit contracts on an Arbitrum Rollup chain. Since Arbitrum provides full Solidity support, we didn't have to rewrite the Reddit contracts or try to mimic their functionality using an unfamiliar paradigm. Nope, none of that. We launched the Reddit contracts unmodified on Arbitrum Rollup complete with support for minting and distributing points. Like every Arbitrum Rollup chain, the chain included a bridge interface in which users can transfer Community Points or any other asset between the L1 and L2 chains. Arbitrum Rollup chains also support dynamic contract loading, which would allow third-party developers to launch custom ecosystem apps that integrate with Community Points on the very same chain that runs the Reddit contracts. 1.1 Why Ethereum Perhaps the most exciting benefit of distributing Community Points using a blockchain is the ability to seamlessly port points to other applications and use them in a wide variety of contexts. Applications may include simple transfers such as a restaurant that allows Redditors to spend points on drinks. Or it may include complex smart contracts -- such as placing Community Points as a wager for a multiparty game or as collateral in a financial contract. The common denominator between all of the fun uses of Reddit points is that it needs a thriving ecosystem of both users and developers, and the Ethereum blockchain is perhaps the only smart contract platform with significant adoption today. While many Layer 1 blockchains boast lower cost or higher throughput than the Ethereum blockchain, more often than not, these attributes mask the reality of little usage, weaker security, or both. Perhaps another platform with significant usage will rise in the future. But today, Ethereum captures the mindshare of the blockchain community, and for Community Points to provide the most utility, the Ethereum blockchain is the natural choice. 1.2 Why Arbitrum While Ethereum's ecosystem is unmatched, the reality is that fees are high and capacity is too low to support the scale of Reddit Community Points. Enter Arbitrum. Arbitrum Rollup provides all of the ecosystem benefits of Ethereum, but with orders of magnitude more capacity and at a fraction of the cost of native Ethereum smart contracts. And most of all, we don't change the experience from users. They continue to use the same wallets, addresses, languages, and tools. Arbitrum Rollup is not the only solution that can scale payments, but it is the only developed solution that can scale both payments and arbitrary smart contracts trustlessly, which means that third party users can build highly scalable add-on apps that can be used without withdrawing money from the Rollup chain. If you believe that Reddit users will want to use their Community Points in smart contracts--and we believe they will--then it makes the most sense to choose a single scaling solution that can support the entire ecosystem, eliminating friction for users. We view being able to run smart contracts in the same scaling solution as fundamentally critical since if there's significant demand in running smart contracts from Reddit's ecosystem, this would be a load on Ethereum and would itself require a scaling solution. Moreover, having different scaling solutions for the minting/distribution/spending of points and for third party apps would be burdensome for users as they'd have to constantly shuffle their Points back and forth. 2. Arbitrum at a glance Arbitrum Rollup has a unique value proposition as it offers a combination of features that no other scaling solution achieves. Here we highlight its core attributes. Decentralized. Arbitrum Rollup is as decentralized as Ethereum. Unlike some other Layer 2 scaling projects, Arbitrum Rollup doesn't have any centralized components or centralized operators who can censor users or delay transactions. Even in non-custodial systems, centralized components provide a risk as the operators are generally incentivized to increase their profit by extracting rent from users often in ways that severely degrade user experience. Even if centralized operators are altruistic, centralized components are subject to hacking, coercion, and potential liability. Massive Scaling. Arbitrum achieves order of magnitude scaling over Ethereum's L1 smart contracts. Our software currently supports 453 transactions-per-second for basic transactions (at 1616 Ethereum gas per tx). We have a lot of room left to optimize (e.g. aggregating signatures), and over the next several months capacity will increase significantly. As described in detail below, Arbitrum can easily support and surpass Reddit's anticipated initial load, and its capacity will continue to improve as Reddit's capacity needs grow. Low cost. The cost of running Arbitrum Rollup is quite low compared to L1 Ethereum and other scaling solutions such as those based on zero-knowledge proofs. Layer 2 fees are low, fixed, and predictable and should not be overly burdensome for Reddit to cover. Nobody needs to use special equipment or high-end machines. Arbitrum requires validators, which is a permissionless role that can be run on any reasonable on-line machine. Although anybody can act as a validator, in order to protect against a “tragedy of the commons” and make sure reputable validators are participating, we support a notion of “invited validators” that are compensated for their costs. In general, users pay (low) fees to cover the invited validators’ costs, but we imagine that Reddit may cover this cost for its users. See more on the costs and validator options below. Ethereum Developer Experience. Not only does Arbitrum support EVM smart contracts, but the developer experience is identical to that of L1 Ethereum contracts and fully compatible with Ethereum tooling. Developers can port existing Solidity apps or write new ones using their favorite and familiar toolchains (e.g. Truffle, Buidler). There are no new languages or coding paradigms to learn. Ethereum wallet compatibility. Just as in Ethereum, Arbitrum users need only hold keys, but do not have to store any coin history or additional data to protect or access their funds. Since Arbitrum transactions are semantically identical to Ethereum L1 transactions, existing Ethereum users can use their existing Ethereum keys with their existing wallet software such as Metamask. Token interoperability. Users can easily transfer their ETH, ERC-20 and ERC-721 tokens between Ethereum and the Arbitrum Rollup chain. As we explain in detail below, it is possible to mint tokens in L2 that can subsequently be withdrawn and recognized by the L1 token contract. Fast finality. Transactions complete with the same finality time as Ethereum L1 (and it's possible to get faster finality guarantees by trading away trust assumptions; see the Arbitrum Rollup whitepaper for details). Non-custodial. Arbitrum Rollup is a non-custodial scaling solution, so users control their funds/points and neither Reddit nor anyone else can ever access or revoke points held by users. Censorship Resistant. Since it's completely decentralized, and the Arbitrum protocol guarantees progress trustlessly, Arbitrum Rollup is just as censorship-proof as Ethereum. Block explorer. The Arbitrum Rollup block explorer allows users to view and analyze transactions on the Rollup chain. Limitations Although this is a bake-off, we're not going to sugar coat anything. Arbitrum Rollup, like any Optimistic Rollup protocol, does have one limitation, and that's the delay on withdrawals. As for the concrete length of the delay, we've done a good deal of internal modeling and have blogged about this as well. Our current modeling suggests a 3-hour delay is sufficient (but as discussed in the linked post there is a tradeoff space between the length of the challenge period and the size of the validators’ deposit). Note that this doesn't mean that the chain is delayed for three hours. Arbitrum Rollup supports pipelining of execution, which means that validators can keep building new states even while previous ones are “in the pipeline” for confirmation. As the challenge delays expire for each update, a new state will be confirmed (read more about this here). So activity and progress on the chain are not delayed by the challenge period. The only thing that's delayed is the consummation of withdrawals. Recall though that any single honest validator knows immediately (at the speed of L1 finality) which state updates are correct and can guarantee that they will eventually be confirmed, so once a valid withdrawal has been requested on-chain, every honest party knows that the withdrawal will definitely happen. There's a natural place here for a liquidity market in which a validator (or someone who trusts a validator) can provide withdrawal loans for a small interest fee. This is a no-risk business for them as they know which withdrawals will be confirmed (and can force their confirmation trustlessly no matter what anyone else does) but are just waiting for on-chain finality. 3. The recipe: How Arbitrum Rollup works For a description of the technical components of Arbitrum Rollup and how they interact to create a highly scalable protocol with a developer experience that is identical to Ethereum, please refer to the following documents: Arbitrum Rollup Whitepaper Arbitrum academic paper (describes a previous version of Arbitrum) 4. Developer docs and APIs For full details about how to set up and interact with an Arbitrum Rollup chain or validator, please refer to our developer docs, which can be found at https://developer.offchainlabs.com/. Note that the Arbitrum version described on that site is older and will soon be replaced by the version we are entering in Reddit Bake-Off, which is still undergoing internal testing before public release. 5. Who are the validators? As with any Layer 2 protocol, advancing the protocol correctly requires at least one validator (sometimes called block producers) that is honest and available. A natural question is: who are the validators? Recall that the validator set for an Arbitrum chain is open and permissionless; anyone can start or stop validating at will. (A useful analogy is to full nodes on an L1 chain.) But we understand that even though anyone can participate, Reddit may want to guarantee that highly reputable nodes are validating their chain. Reddit may choose to validate the chain themselves and/or hire third-party validators.To this end, we have begun building a marketplace for validator-for-hire services so that dapp developers can outsource validation services to reputable nodes with high up-time. We've announced a partnership in which Chainlink nodes will provide Arbitrum validation services, and we expect to announce more partnerships shortly with other blockchain infrastructure providers. Although there is no requirement that validators are paid, Arbitrum’s economic model tracks validators’ costs (e.g. amount of computation and storage) and can charge small fees on user transactions, using a gas-type system, to cover those costs. Alternatively, a single party such as Reddit can agree to cover the costs of invited validators. 6. Reddit Contract Support Since Arbitrum contracts and transactions are byte-for-byte compatible with Ethereum, supporting the Reddit contracts is as simple as launching them on an Arbitrum chain. Minting. Arbitrum Rollup supports hybrid L1/L2 tokens which can be minted in L2 and then withdrawn onto the L1. An L1 contract at address A can make a special call to the EthBridge which deploys a "buddy contract" to the same address A on an Arbitrum chain. Since it's deployed at the same address, users can know that the L2 contract is the authorized "buddy" of the L1 contract on the Arbitrum chain. For minting, the L1 contract is a standard ERC-20 contract which mints and burns tokens when requested by the L2 contract. It is paired with an ERC-20 contract in L2 which mints tokens based on whatever programmer provided minting facility is desired and burns tokens when they are withdrawn from the rollup chain. Given this base infrastructure, Arbitrum can support any smart contract based method for minting tokens in L2, and indeed we directly support Reddit's signature/claim based minting in L2. Batch minting. What's better than a mint cookie? A whole batch! In addition to supporting Reddit’s current minting/claiming scheme, we built a second minting design, which we believe outperforms the signature/claim system in many scenarios. In the current system, Reddit periodically issues signed statements to users, who then take those statements to the blockchain to claim their tokens. An alternative approach would have Reddit directly submit the list of users/amounts to the blockchain and distribute the tokens to the users without the signature/claim process. To optimize the cost efficiency of this approach, we designed an application-specific compression scheme to minimize the size of the batch distribution list. We analyzed the data from Reddit's previous distributions and found that the data is highly compressible since token amounts are small and repeated, and addresses appear multiple times. Our function groups transactions by size, and replaces previously-seen addresses with a shorter index value. We wrote client code to compress the data, wrote a Solidity decompressing function, and integrated that function into Reddit’s contract running on Arbitrum. When we ran the compression function on the previous Reddit distribution data, we found that we could compress batched minting data down to to 11.8 bytes per minting event (averaged over a 6-month trace of Reddit’s historical token grants)compared with roughly 174 bytes of on-chain data needed for the signature claim approach to minting (roughly 43 for an RLP-encoded null transaction + 65 for Reddit's signature + 65 for the user's signature + roughly 8 for the number of Points) . The relative benefit of the two approaches with respect to on-chain call data cost depends on the percentage of users that will actually claim their tokens on chain. With the above figures, batch minting will be cheaper if roughly 5% of users redeem their claims. We stress that our compression scheme is not Arbitrum-specific and would be beneficial in any general-purpose smart contract platform. 8. Benchmarks and costs In this section, we give the full costs of operating the Reddit contracts on an Arbitrum Rollup chain including the L1 gas costs for the Rollup chain, the costs of computation and storage for the L2 validators as well as the capital lockup requirements for staking. Arbitrum Rollup is still on testnet, so we did not run mainnet benchmarks. Instead, we measured the L1 gas cost and L2 workload for Reddit operations on Arbitrum and calculated the total cost assuming current Ethereum gas prices. As noted below in detail, our measurements do not assume that Arbitrum is consuming the entire capacity of Ethereum. We will present the details of our model now, but for full transparency you can also play around with it yourself and adjust the parameters, by copying the spreadsheet found here. Our cost model is based on measurements of Reddit’s contracts, running unmodified (except for the addition of a batch minting function) on Arbitrum Rollup on top of Ethereum. On the distribution of transactions and frequency of assertions. Reddit's instructions specify the following minimum parameters that submissions should support: Over a 5 day period, your scaling PoC should be able to handle:
100,000 point claims (minting & distributing points)
75,000 one-off points burning
We provide the full costs of operating an Arbitrum Rollup chain with this usage under the assumption that tokens are minted or granted to users in batches, but other transactions are uniformly distributed over the 5 day period. Unlike some other submissions, we do not make unrealistic assumptions that all operations can be submitted in enormous batches. We assume that batch minting is done in batches that use only a few percent on an L1 block’s gas, and that other operations come in evenly over time and are submitted in batches, with one batch every five minutes to keep latency reasonable. (Users are probably already waiting for L1 finality, which takes at least that long to achieve.) We note that assuming that there are only 300,000 transactions that arrive uniformly over the 5 day period will make our benchmark numbers lower, but we believe that this will reflect the true cost of running the system. To see why, say that batches are submitted every five minutes (20 L1 blocks) and there's a fixed overhead of c bytes of calldata per batch, the cost of which will get amortized over all transactions executed in that batch. Assume that each individual transaction adds a marginal cost of t. Lastly assume the capacity of the scaling system is high enough that it can support all of Reddit's 300,000 transactions within a single 20-block batch (i.e. that there is more than c + 300,000*t byes of calldata available in 20 blocks). Consider what happens if c, the per-batch overhead, is large (which it is in some systems, but not in Arbitrum). In the scenario that transactions actually arrive at the system's capacity and each batch is full, then c gets amortized over 300,000 transactions. But if we assume that the system is not running at capacity--and only receives 300,000 transactions arriving uniformly over 5 days-- then each 20-block assertion will contain about 200 transactions, and thus each transaction will pay a nontrivial cost due to c. We are aware that other proposals presented scaling numbers assuming that 300,000 transactions arrived at maximum capacity and was executed in a single mega-transaction, but according to our estimates, for at least one such report, this led to a reported gas price that was 2-3 orders of magnitude lower than it would have been assuming uniform arrival. We make more realistic batching assumptions, and we believe Arbitrum compares well when batch sizes are realistic. Our model. Our cost model includes several sources of cost:
L1 gas costs: This is the cost of posting transactions as calldata on the L1 chain, as well as the overhead associated with each batch of transactions, and the L1 cost of settling transactions in the Arbitrum protocol.
Validator’s staking costs: In normal operation, one validator will need to be staked. The stake is assumed to be 0.2% of the total value of the chain (which is assumed to be $1 per user who is eligible to claim points). The cost of staking is the interest that could be earned on the money if it were not staked.
Validator computation and storage: Every validator must do computation to track the chain’s processing of transactions, and must maintain storage to keep track of the contracts’ EVM storage. The cost of computation and storage are estimated based on measurements, with the dollar cost of resources based on Amazon Web Services pricing.
It’s clear from our modeling that the predominant cost is for L1 calldata. This will probably be true for any plausible rollup-based system. Our model also shows that Arbitrum can scale to workloads much larger than Reddit’s nominal workload, without exhausting L1 or L2 resources. The scaling bottleneck will ultimately be calldata on the L1 chain. We believe that cost could be reduced substantially if necessary by clever encoding of data. (In our design any compression / decompression of L2 transaction calldata would be done by client software and L2 programs, never by an L1 contract.) 9. Status of Arbitrum Rollup Arbitrum Rollup is live on Ethereum testnet. All of the code written to date including everything included in the Reddit demo is open source and permissively licensed under the Apache V2 license. The first testnet version of Arbitrum Rollup was released on testnet in February. Our current internal version, which we used to benchmark the Reddit contracts, will be released soon and will be a major upgrade. Both the Arbitrum design as well as the implementation are heavily audited by independent third parties. The Arbitrum academic paper was published at USENIX Security, a top-tier peer-reviewed academic venue. For the Arbitrum software, we have engaged Trail of Bits for a security audit, which is currently ongoing, and we are committed to have a clean report before launching on Ethereum mainnet. 10. Reddit Universe Arbitrum Rollup Chain The benchmarks described in this document were all measured using the latest internal build of our software. When we release the new software upgrade publicly we will launch a Reddit Universe Arbitrum Rollup chain as a public demo, which will contain the Reddit contracts as well as a Uniswap instance and a Connext Hub, demonstrating how Community Points can be integrated into third party apps. We will also allow members of the public to dynamically launch ecosystem contracts. We at Offchain Labs will cover the validating costs for the Reddit Universe public demo. If the folks at Reddit would like to evaluate our software prior to our public demo, please email us at [email protected] and we'd be more than happy to provide early access. 11. Even more scaling: Arbitrum Sidechains Rollups are an excellent approach to scaling, and we are excited about Arbitrum Rollup which far surpasses Reddit's scaling needs. But looking forward to Reddit's eventual goal of supporting hundreds of millions of users, there will likely come a time when Reddit needs more scaling than any Rollup protocol can provide. While Rollups greatly reduce costs, they don't break the linear barrier. That is, all transactions have an on-chain footprint (because all calldata must be posted on-chain), albeit a far smaller one than on native Ethereum, and the L1 limitations end up being the bottleneck for capacity and cost. Since Ethereum has limited capacity, this linear use of on-chain resources means that costs will eventually increase superlinearly with traffic. The good news is that we at Offchain Labs have a solution in our roadmap that can satisfy this extreme-scaling setting as well: Arbitrum AnyTrust Sidechains. Arbitrum Sidechains are similar to Arbitrum Rollup, but deviate in that they name a permissioned set of validators. When a chain’s validators agree off-chain, they can greatly reduce the on-chain footprint of the protocol and require almost no data to be put on-chain. When validators can't reach unanimous agreement off-chain, the protocol reverts to Arbitrum Rollup. Technically, Arbitrum Sidechains can be viewed as a hybrid between state channels and Rollup, switching back and forth as necessary, and combining the performance and cost that state channels can achieve in the optimistic case, with the robustness of Rollup in other cases. The core technical challenge is how to switch seamlessly between modes and how to guarantee that security is maintained throughout. Arbitrum Sidechains break through this linear barrier, while still maintaining a high level of security and decentralization. Arbitrum Sidechains provide the AnyTrust guarantee, which says that as long as any one validator is honest and available (even if you don't know which one will be), the L2 chain is guaranteed to execute correctly according to its code and guaranteed to make progress. Unlike in a state channel, offchain progress does not require unanimous consent, and liveness is preserved as long as there is a single honest validator. Note that the trust model for Arbitrum Sidechains is much stronger than for typical BFT-style chains which introduce a consensus "voting" protocols among a small permissioned group of validators. BFT-based protocols require a supermajority (more than 2/3) of validators to agree. In Arbitrum Sidechains, by contrast, all you need is a single honest validator to achieve guaranteed correctness and progress. Notice that in Arbitrum adding validators strictly increases security since the AnyTrust guarantee provides correctness as long as any one validator is honest and available. By contrast, in BFT-style protocols, adding nodes can be dangerous as a coalition of dishonest nodes can break the protocol. Like Arbitrum Rollup, the developer and user experiences for Arbitrum Sidechains will be identical to that of Ethereum. Reddit would be able to choose a large and diverse set of validators, and all that they would need to guarantee to break through the scaling barrier is that a single one of them will remain honest. We hope to have Arbitrum Sidechains in production in early 2021, and thus when Reddit reaches the scale that surpasses the capacity of Rollups, Arbitrum Sidechains will be waiting and ready to help. While the idea to switch between channels and Rollup to get the best of both worlds is conceptually simple, getting the details right and making sure that the switch does not introduce any attack vectors is highly non-trivial and has been the subject of years of our research (indeed, we were working on this design for years before the term Rollup was even coined). 12. How Arbitrum compares We include a comparison to several other categories as well as specific projects when appropriate. and explain why we believe that Arbitrum is best suited for Reddit's purposes. We focus our attention on other Ethereum projects. Payment only Rollups. Compared to Arbitrum Rollup, ZK-Rollups and other Rollups that only support token transfers have several disadvantages:
As outlined throughout the proposal, we believe that the entire draw of Ethereum is in its rich smart contracts support which is simply not achievable with today's zero-knowledge proof technology. Indeed, scaling with a ZK-Rollup will add friction to the deployment of smart contracts that interact with Community Points as users will have to withdraw their coins from the ZK-Rollup and transfer them to a smart contract system (like Arbitrum). The community will be best served if Reddit builds on a platform that has built-in, frictionless smart-contract support.
All other Rollup protocols of which we are aware employ a centralized operator. While it's true that users retain custody of their coins, the centralized operator can often profit from censoring, reordering, or delaying transactions. A common misconception is that since they're non-custodial protocols, a centralized sequencer does not pose a risk but this is incorrect as the sequencer can wreak havoc or shake down users for side payments without directly stealing funds.
Sidechain type protocols can eliminate some of these issues, but they are not trustless. Instead, they require trust in some quorum of a committee, often requiring two-third of the committee to be honest, compared to rollup protocols like Arbitrum that require only a single honest party. In addition, not all sidechain type protocols have committees that are diverse, or even non-centralized, in practice.
Plasma-style protocols have a centralized operator and do not support general smart contracts.
13. Concluding Remarks While it's ultimately up to the judges’ palate, we believe that Arbitrum Rollup is the bakeoff choice that Reddit kneads. We far surpass Reddit's specified workload requirement at present, have much room to optimize Arbitrum Rollup in the near term, and have a clear path to get Reddit to hundreds of millions of users. Furthermore, we are the only project that gives developers and users the identical interface as the Ethereum blockchain and is fully interoperable and tooling-compatible, and we do this all without any new trust assumptions or centralized components. But no matter how the cookie crumbles, we're glad to have participated in this bake-off and we thank you for your consideration. About Offchain Labs Offchain Labs, Inc. is a venture-funded New York company that spun out of Princeton University research, and is building the Arbitrum platform to usher in the next generation of scalable, interoperable, and compatible smart contracts. Offchain Labs is backed by Pantera Capital, Compound VC, Coinbase Ventures, and others. Leadership Team Ed Felten Ed Felten is Co-founder and Chief Scientist at Offchain Labs. He is on leave from Princeton University, where he is the Robert E. Kahn Professor of Computer Science and Public Affairs. From 2015 to 2017 he served at the White House as Deputy United States Chief Technology Officer and senior advisor to the President. He is an ACM Fellow and member of the National Academy of Engineering. Outside of work, he is an avid runner, cook, and L.A. Dodgers fan. Steven Goldfeder Steven Goldfeder is Co-founder and Chief Executive Officer at Offchain Labs. He holds a PhD from Princeton University, where he worked at the intersection of cryptography and cryptocurrencies including threshold cryptography, zero-knowledge proof systems, and post-quantum signatures. He is a co-author of Bitcoin and Cryptocurrency Technologies, the leading textbook on cryptocurrencies, and he has previously worked at Google and Microsoft Research, where he co-invented the Picnic signature algorithm. When not working, you can find Steven spending time with his family, taking a nature walk, or twisting balloons. Harry Kalodner Harry Kalodner is Co-founder and Chief Technology Officer at Offchain Labs where he leads the engineering team. Before the company he attended Princeton as a Ph.D candidate where his research explored economics, anonymity, and incentive compatibility of cryptocurrencies, and he also has worked at Apple. When not up at 3:00am writing code, Harry occasionally sleeps.
https://preview.redd.it/nnuhfz6q01t51.png?width=700&format=png&auto=webp&s=15ce35581f2ebad02af140180f5a8b1fe7931f00 Technology & Products Public Chain Development · WASM AMPL contract debugging (100%) · Research on WASM zero-knowledge proof anonymous transfer (50%) · WASM Sushi contract coding (100%) · WASM RPC iOS asynchronous library commissioning (100%) · Verification of the signature push public key algorithm and testing its codability (C++, go) through RPC (100%) · The new lock-up airdrop contract function: lock-up users can claim the unlocked assets by entering RegID (100%) · Porting ASWAP contract to public chain 3.0, adding platform fee processing (100%) · Optimization of Yield Farming contract reward distribution (100%) · Optimization of Yield Farming contract penalty distribution mechanism (100%) · Yield Farming contract testing (100%) · Deployment and initial configuration of WICC and WGRT yield farming contracts and Wayki-X contract completed (100%) · Ownership of issuance and transfer rights of the bottom-level token ROG transferred to Wayki-X contract (100%) · The initial generation of ROG completed. 10.08M ROG entered the WICC pool, 2.52M ROG entered the WGRT pool (100%) · The first 189,000 ROG was minted in Wayki-X contract for rewards by inflation (12.6M × 1.5%) (100%) · Transfer of 70,000 ROG to AEX for Ecosystem Yield Farming completed (100%) · WASM developer documentation: added detailed WASM table (Simplified Chinese) (100%) · WASM developer documentation: added call of multiple contracts and multisignature transactions in WASM contract (Simplified Chinese) (100%) Application Development · Yield Farming back end API (100%) · Yield Farming front end page optimization (100%) · Yield Farming front end localization (100%) · Yield Farming pre-release initial API docking (100%) · Yield Farming application testing (100%) · Yield Farming application release (100%) · xUSD & ROG added to Instant in WaykiTimes Android (100%) · Memory leak issue fixed in Instant in WaykiTimes (100%) · Data loading error when swiping in Discover fixed in WaykiTimes (100%) · Data display optimized in Getting Started in WaykiTimes · UI debugging of several pages in WaykiTimes (100%) · WaykiTimes 3.0.4 released (100%) · WaykiTimes Help Center released (100%) · WaykiTimes Getting Started released (100%) · WaykiTimes remember password function released (100%) · WaykiTimes iOS App Store version tested (100%) · Google crash analysis and testing added to WaykiTimes Android (100%) · Solved the data loading issue when swiping in Wayki-X Synths (100%) · Wayki-X price feed delay fixed (100%) · Amount issue in the plug-in wallet fixed (100%) · Display error of release contract type of universal transactions fixed on the blockchain explorer (100%) · WASM contract display specifications for the blockchain explorer completed (100%) · Development of the Coinbase integration project (wicc-rosetta-api) (85%) Plan for October Public Chain Development · Research on WASM zero-knowledge proof anonymous transfer · Correction of ASWAP contract proof of liquidity token generation rules · ASWAP contract testing · Docking of ASWAP contract with third parties · Continuous updating of coind RPC interface documentation Application Development · Trade — transaction details HTML5 page to native page transfer in WaykiTimes · Development of the Coinbase integration project (wicc-rosetta-api) Market International Market · On September 4, Russian volunteers opened the second WaykiChain Russian group in Telegram: https://t.me/waykichainrussian. · On September 6, WaykiChain opened the official community in Discord: https://discord.gg/XyAkqa. · On September 6, WaykiChain CTO Richard Chen was invited to the Blockchain + Innovative Service and Industrial Application Conference and the China Chamber of International Commerce Blockchain Innovation Service Industry Committee Establishment Conference as a member of the expert group. · On September 11, the famous US blockchain TV program Exploring the Block tweeted about WaykiChain, showing it is optimistic about the future development of the integrated DeFi ecology of WaykiChain. · On September 11, the famous business platform Yahoo Finance released WaykiChain project information and announced that WaykiChain CEO Gordon Gao gives an interview to NASDAQ MarketSite’s Jane King on September 12. · At 7:00 PM EDT on September 12, world’s largest financial channel Bloomberg TV reported that WaykiChain CEO Gordon Gao was interviewed by Jane King of NASDAQ MarketSite. The interview aired on Fox Business Network at 10:30 PM EDT on September 14. · On September 12, cryptocurrency Twitter account Crypto Catalog tweeted about WaykiChain, showing it is optimistic about the future development of the integrated DeFi ecology of WaykiChain. · On September 13, DeFi List added WaykiChain governance token WGRT. · On September 13, WaykiChain reached market cooperation with the Indian blockchain influencer Gmadvice who started to serve as WaykiChain community manager in India. · On September 16, WaykiChain released “WaykiChain Launches Phoenix Yield Farming with WICC/WGRT Dual-pool for ROG Genesis Issuance” on Twitter. Up to September 21, the news hit 2,400+ retweets. · On September 17, the cryptocurrency influencer DeFi List retweeted “WaykiChain Launches Phoenix Yield Farming with WICC/WGRT Dual-pool for ROG Genesis Issuance”. · On September 18, WaykiChain reached strategic market cooperation with the Korean crypto influencer Pantera who will help WaykiChain establish a broad and strong consensus in Korea. · On September 19, “WaykiChain Dual-pool ROG Yield Farming Korean Group” community established. · On September 20, the influencer Crypto Wendy retweeted “WaykiChain Launches Phoenix Yield Farming with WICC/WGRT Dual-pool for ROG Genesis Issuance”. · On September 21, 130+ Korean media outlets published “WaykiChain Launches Phoenix Yield Farming with WICC & WGRT Dual-pool for ROG Genesis Issuance”. · On September 23, WaykiChain co-founder and CEO Gordon Gao was invited to an AMA session with ICO Pantera Group, Korea’s top Telegram group (stats by u/combot), where he shared his insights into DeFi with 4,000+ Korean users and introduced WaykiChain’s ROG Genesis Yield Farming. · On September 24, WaykiChain tweeted “ROG Genesis Yield Farming FAQ” and “Leave your question/problem toward WaykiTimes/Wayki-X/ROG Genesis Yield Farming in the Google forms below to share 800 WICC Giveaway!”, the number of engagements is 1,500+. · On September 24, WaykiChain global partner Vincent Lionheart was invited to an AMA session to D’va Community. · On September 24, The Business Telegraph, Bitcoin Garden, and other media published “WaykiChain Launches Phoenix Yield Farming with WICC & WGRT Dual-pool”. · On September 24, WaykiChain tweeted the ROG Genesis Yield Farming Countdown. The news hit 1,000+ retweets. · On September 25, ROG Genesis Yield Farming news was the day’s hit in Korea with 5,000+ views on Korean cryptocurrency forums. National Market · On September 1, CoinTiger listed WaykiChain governance token WGRT and opened the WGRT/USDT pair. WGRT net buy & hold competition started and the CoinTiger community joined a series of WGRT-themed challenges. · On September 1, WaykiChain governance token WGRT successfully mapped to Ethereum and ERC-20 WGRT was created. The world’s largest DEX Uniswap officially supported it and listed the WGRT/USDT pair. · On September 2, WaykiChain Strategic Analyst Jing Tao gave the speech “WGRT Dragon, Fly, Tiger, and Leap: Community Governance Upstart” to the MXC community and distributed 3 gold bars to the event participants. · On September 7, WaykiChain Strategy Analyst Jing Tao attended [This Is Coin Coffee] live DeFi contest co-sponsored by Coinka, fogwu.com, and tuoniaox.com. WEDEX founder & CEO, Loopring co-founder Chen Xiaoliang and ChainNews Research Director Pan Zhixiong joined the event. · On September 9, Gate.io selected WaykiChain governance token WGRT for the Listing Vote. Each voter had a chance to share an airdrop of 420,875.43 WGRT. WGRT passed the voting with 53,293,775 votes and was successfully listed on Gate.io. · On September 10, WGRT/USDT trading pair and WGRT withdrawals opened on Gate.io. · On September 10, WaykiChain released WaykiChain Governance Token WGRT Information and Addresses. The team announced that before July 1, 2021, WGRT circulating supply will be strictly controlled at 10% of the total supply, or 2.1 billion. · On September 9 to 11, WaykiChain was invited to IoT World China & 5G China along with 400+ exhibitors including Huawei, Baidu, and Tencent. WaykiChain demonstrated the integrated public chain DeFi ecosystem that will help China’s digital construction. · On September 11, WaykiChain Strategy Analyst Jing Tao was invited to the Bepal community and shared the speech “WaykiChain Governance Token WGRT: Accumulation and Breakout”. WaykiChain airdropped 3,000 WGRT and cash red envelopes to the Bepal community members. · On September 12, WaykiChain Technology & Development Manager Yuanhang Xiao and Strategy Analyst Jing Tao introduced [New WaykiChain DeFi Product: Decentralized Synthetic Asset Issuance Protocol Wayki-X] in the official WaykiChain yizhibo account. During the live broadcast, WaykiChain distributed pure gold bars and branded gifts to lucky users. · On September 13, WaykiChain co-founder & CEO Gordon Gao and Overseas Director Qiyuan Mei shared the speech “WaykiChain Opens the Era of Integrated DeFi Public Chains” in the Gate.io live broadcast room. Gate.io CPO Jiuer was the broadcast host. The guests explained WaykiChain’s DeFi strategy and revealed the launch of Yield Farming. · On September 15, WaykiChain CEO Gordon Gao and BTC38 co-founder Tianwei Huang held the live stream titled “Eight Questions to Explain DeFi Trends and Opportunities” in yizhibo. The hosts analyzed the status and trends of DeFi, discussed DeFi deployment by public chains and exchanges, and new opportunities in synthetic asset trading. WaykiChain distributed pure gold bars and branded gifts to lucky viewers of the stream. · On September 16, WaykiChain Strategy Analyst Jing Tao shared the speech titled “WaykiChain’s Integrated DeFi Ecosystem Layout” as the guest of btcmoney.cc. · On September 18, Bying community invited WaykiChain Strategy Analyst Jing Tao to share the speech “New DeFi Opportunity: Phoenix Yield Farming”. WaykiChain held a WICC airdrop for Bying community members. · On September 18, WaykiChain published the article “No Pre-mining, ICO, or Reserve! WaykiChain Launches Dual-pool Phoenix Yield Farming”. · On September 19, WaykiChain published the article “Chapter 1. The Financial Innovation of Blockchain Reformation. The Origin, Logic, and Value of WaykiChain ROG” introducing the background of ROG, the operation mechanism of the decentralized synthetic asset system Wayki-X, and the value foundation of ROG in detail. · On September 23, “No Pre-mining, ICO, or Reserve! WaykiChain ROG Genesis Farming and Early Release Guide” was released across Chinese media. · On September 24, WaykiChain CEO Gordon Gao, CTO Richard Chen, and CPO Xi Zhang held a joint live stream on yizhibo explaining the future planning of WaykiChain decentralized synthetic asset issuance protocol Wayki-X, ROG, and WaykiChain DeFi in terms of business model, technology, and products. WaykiChain distributed 1 pure gold bar and 6 branded gifts to the lucky stream viewers. · On September 24, Gate.io and WaykiChain launched the WGRT Investment Competition. The prizes are a BMW G 310 R motorcycle, a 13” MacBook Pro, a 10.2” iPad, 17 pure gold bars and 99,000 WGRT. · On September 25, various Chinese media released “Wayki-X 101: WaykiChain Decentralized Synthetic Asset Protocol” introducing the functions and mechanism of the decentralized synthetic asset issuance protocol Wayki-X and the value of its token ROG in detail. · On September 25, WaykiChain launched the “Looking for the Genesis Prophet” community event. The winners received 10 branded gifts. · On September 25, WaykiChain ROG Genesis Yield Farming launched. WICC and WGRT pool quotas (5 million and 25 million, respectively) were full within just one hour. · On September 25, WaykiChain reached ecosystem partnership with AEX. AEX became the first platform to join ROG Ecosystem Yield Farming. · On September 25, WaykiChain partnered with Bying wallet. ROG Genesis Yield Farming is available in Bying wallet. · On September 26, ROG, the main token of WaykiChain’s decentralized synthetic asset issuance protocol Wayki-X, was listed on AEX. ROG/USDT trading pair is available. · On September 26, WaykiChain CEO Gordon Gao gave lectures “DeFi Financial Principles and Commercial Applications” and “DeFi Industry Panoramic Scan” at The First Offline Practical Training Camp of Hash Power University, Shanghai Station. Participants included Ontology founder Jun Li, Chainlink Labs — China Head Philip Fei, Digital Renaissance Foundation Managing Director Cao Yin, and Waterdrip Capital founding partner Zheng Yushan. · On September 28, WaykiChain co-founder and CEO Gordon Gao was a guest at Hash Power Knowledge Base Private Meeting, Shenzhen Station where he shared the speech titled “Feasible Ways of DeFi Application Popularization”. Other guests included Ontology founder Jun Li, DeBank founder and CEO Tang Hongbo, and Huobi Research Chief Technical Researcher Tianyuan Ma.
the year 2020 in Bitcoin Cash so far: a detailed history
the year 2020 in Bitcoin Cash so far: a detailed history What follows at the bottom is a four page long chronological overview of what happened in BCH in 2020 so far. To make it more digestable and fun to read I start with my narrating of the story. My attempt was to remain as objective as possible and "let the facts speak for themselve" with everything sourced. I also link to manyread.casharticles, the decision of which are the important ones to include is certainly not easy, I count on the rest of the community if I overlooked anything important. summary & my narrating of the story: The year started out relatively calm, with cashfusion in "the news" and an older ongoing controversy between Amaury and Roger Ver being worked out. Starting Jan 22nd all debate broke loose with the announcement of “Infrastructure Funding Plan for Bitcoin Cash” by Jiang Zhuoer of BTC.TOP. To illustrate this point 2 days later coinspice ran the title " Roger Ver Praises Vigorous Debate, [...]" and 6 days, less than a week, later Chris Pacia made a read.cash post titled "The 253rd "Thoughts on developer funding" Article" which might have been only a slight exaggeration or he might have been counting. Part of the reason of the tsunami was the lack of worked out details. By the time of Pacia's post a lot had changed: Both BU, Bitcoin Verde and a group of miners had made announcements not to go along with "the plan". On feb 1st, the second version of the IFP was announced by Jiang Zhuoer in a post “BCH miner donation plan update”. Two weeks later on Feb 15th, the third iteration was announced by Bitcoin ABC which was to be activated by hashrate voting and on the same day Flipstarter was introduced, a sign of the search for alternative solutions. After a few more days and a few more people coming out more against the IFP (including Jonald Fyookball, Mark Lundeberg & Josh Ellithorpe), BCHN was announced on feb 20th with a formal release a week later. Also feb 27th, the DAA was brought back into the conversation by Jonathan Toomim with his " The BCH difficulty adjustment algorithm is broken. Here's how to fix it." video. By early march the IFP was effectively dead with its author Jiang Zhuoer vowing to vote against it. This became clear to everyone when ABC, a day later sudddenly shifted gears towards non-protocol, donation based funding: the IFP was dead. End march ABCs 2020 Business Plan was announced as a way to raise $3.3 million. Mid april to mid may was the high time for voluntary funding with four node implementations and General Protocols, a BCH DeFi Startup successfully raising funds. By May 15th, the 6th HF network upgrade things had pretty much cooled down. The upgraded included nothing controversial and even saw an unexpected doubling in the unconfirmed transaction chain. June 15th a month later things started to heat up again with the BCHN announcement to remove the "poison pill" or "automatic replay protection". 8th Jul Jonathan Toomim posted "BCH protocol upgrade proposal: Use ASERT as the new DAA" which promised the solution to the long dragging DAA problem. Jul 23th however an unexpected twist occurred when Amaury Séchet posted "Announcing the Grasberg DAA" an incompatible, alternative solution. This, again, sparked a ton of debate and discussion. Grasberg lasted just two weeks from Jul 23th to Aug 6th when ABC announced its plans for the november 2020 upgrade but it had successfully united the opposition in the meanwhile. ABCs plan for november included dropping grasberg in favour of aserti3–2d and introducing IFPv4. Now we're here August 8th, the IFP which was declared dead after just over a month (Jan 22-Mar 5) is now back in full force. The rest of the history is still being written but if p2p electronic cash is to succeed in any big regard it's very thinkable that these events will get into history books. Important resources:coinspice IFP timeline&Compiled list of BCH Miner Dev Fund posts, articles, discussions History Jan 13th : “Do CoinJoins Really Require Equal Transaction Amounts for Privacy? Part One: CashFusion” article by BitcoinMagazine [source] Jan 13th : “Clearing the Way for Cooperation” Read.cash article by Amaury Séchet [source] on the controversy with Roger Ver about the amount of donations over the years Jan 22nd : “Infrastructure Funding Plan for Bitcoin Cash” IFPv1 announced by Jiang Zhuoer of BTC.TOP [source] IFPv1: 12.5% of BCH coinbase rewards which will last for 6 months through a Hong Kong-based corporation & to be activated on May 15th Jan 22nd : ”Bitcoin Cash Developers React to Infrastructure Fund Announcement: Cautiously Optimistic” coinspice article including Amaury Séchet, Antony Zegers, Jonald Fyookball & Josh Ellithorpe [source] Jan 23rd : Jiang Zhuoer reddit AMA [source] [coinspice article] Jan 23rd : Vitalik weighs in with his take on twitter [source] Jan 23rd :” On the infrastructure funding plan for Bitcoin Cash” article by Amaury Séchet [source] [coinspice article] in which he proposed to place control of the IFP key in his hands together with Jonald Fyookball and Antony Zegers. . A group of 7 to 12 miners, developers, and businessmen in total would get an advisory function. Jan 24th : “Bitcoin.com's Clarifications on the Miner Development Fund“ which emphasizes, among other things, the temporary and reversible nature of the proposal [source] [coinspice article] Jan 24th : “Little Known (But Important!) Facts About the Mining Plan” Read.cash article by Jonald Fyookball in which he defended the IFP and stressed its necessity and temporary nature. Jan 25th : massive amounts of public debate as documented by coinspice [coinspice article] with Justin Bons, Tobias Ruck and Antony Zegers explaining their take on it. Jan 26th : public debate continues: “Assessment and proposal re: the Bitcoin Cash infrastructure funding situation” Read.cash article by imaginary_username [source] which was noteworthy in part because the post earned over Earns $1,000+ in BCH [coinspice article] and “The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead” by Peter Rizun [source] Jan 27th : “We are a group of miners opposing the BTC.TOP proposal, here's why” article on Read.cash [source] [reddit announcement] Jan 27th : Bitcoin Unlimited's BUIP 143: Refuse the Coinbase Tax [source][reddit announcement] Jan 28th : “Bitcoin Verde's Response to the Miner Sponsored Development Fund” read.cash article by Josh Green in which he explains “Bitcoin Verde will not be implementing any node validation that enforces new coinbase rules.” [source] Jan 28th : “Update on Developer Funding” read.cash article from Bitcoin.com [source] in which they state “As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.” And that “any funding proposal must be temporary and reversible.” This announcement from bitcoin.com and their mining pool lead the anonymous opposition miners to stand down. [source] Jan 28th : The 253rd "Thoughts on developer funding" Article – by Chris Pacia, to tackle the “serious misconceptions in the community about how software development works”. He ends on a note of support for the IFP because of lack of realistic alternatives. [source] Feb 1st: “BCH miner donation plan update” IFPv2 announced by Jiang Zhuoer of BTC.TOP [source] Which changes the donation mechanism so miners directly send part of their coinbase to the projects they wants to donate to. It would be activated with hashrate voting over a 3-month period with a 2/3 in favour requirement. The proposal also introduces a pilot period and a no donation option, Jiang Zhuoer also says he regards 12.% as too much. Feb 7th: Group of BCH miners led by AsicSeer voice scepticism about the IFP during a reddit AMA [source] Feb 15th: “On the Miner Infrastructure Funding Plan” article by Bitcoin ABC [source] In which they announce they will implement IFPv3 in their upcoming 0.21.0 release. This version has amount reduced to 5% of block reward and will go in effect with BIP 9 hashratevoting and a whitelist with different projects. Feb 15th : “Introducing Flipstarter” [source] Feb 16th :” Bitcoin.com’s stance on the recent block reward diversion proposals” video by Roger Ver on the Bitcoin.com Official Channel. [source] > Ver called Zhuoer’s IFP “clever” but ultimately “problematic.” [coinspice article] Feb 16th :” BCH miner donation plan update again” read.cash article by Jiang Zhuoer of BTC.TOP [source] In which he briefly outlines the details of IFPv3 Feb 17th : “Latest Thoughts On Infrastructure Mining Plan” post by Jonald Fyookball [source] Feb 17th : “Regarding the Bitcoin Cash Infrastructure Funding Plan, I am certain now that it should be scrapped immediately.” tweet by Mark Lundeberg [source] Feb 19th : “Thoughts on the IFP - A Dev Perspective“ read.cash article by Josh Ellithorpe [source] Feb 20th : “Bitcoin Cash Node” post announcing the new node implementation [source] Feb 20th : First “Bitcoin Cash Developer Meeting” After IFP Proposal [source] Feb 24th : “Flipstarter 500k, 6 independent campaigns” post announcing the goal to “fund the BCH ecosystem with 6 independent campaigns and an overall 500,000 USD target” [source] Feb 27th : BCHN Formally Released [source] Feb 27th : “The BCH difficulty adjustment algorithm is broken. Here's how to fix it.” Video by Jonathan Toomim [source] Mar 3th :” Bitcoin Cash Node 2020: plans for May upgrade and beyond” post by BCHN [source] Mar 4th :”Author of the Bitcoin Cash IFP [Jiang Zhuoer] Vows to Vote Against It, Using Personal Hash in Opposition” [source] Mar 5th :Bitcoin ABC announces their 2020 Business Plan Fundraising for later in march [source] Mar 15th : “EatBCH campaign funded! Next: node campaigns.” campaign funded after 11 hours [source] Mar 30th : Bitcoin ABC 2020 Business Plan [source] $3.3 Million Fundraiser [source] Apr 17th : Five flipstarter node campaign launched. [source] Apr 26th : BCHN flipstarter campaign successfully funded. [source] Apr 27th : VERDE flipstarter campaign successfully funded. [source] May 4th : KNUTH flipstarter campaign successfully funded. [source] May 7th : “BCH DeFi Startup General Protocols Raises Over $1 mil“ [source] May 8th : BCHD flipstarter campaign successfully funded. [source] May 9th : Deadline for node campaigns, ABC flipstarter campaign not funded. [source] May 14th : “With IFP Defeated, Bitcoin ABC, ViaBTC & CoinEX CEO Publicly Consider a Bitcoin Cash Foundation” [source] May 15th : deadline for ABC fundraiser campaign, ends at 55% completed. [source] May 15th : 6th HF network upgrade -> new opcode op_Reversebytes, increased of the chained transaction limit from 25 to 50, and the improved counting of signature operations using the new “Sigchecks” implementation [source] with the “Controversial Funding Plan Rejected by Miners” [source] May 25th : “Announcing the SLP Foundation” [source] Jun 15st : “BCHN lead maintainer report 2020-06-15” announcement to remove the Automatic Replay Protection (a.k.a. the Poison Pill) from BCHN in november [source] Jun 16st : “So [BCHN] is going to fork off from BCH at the next upgrade. Same old story. […]” tweeted Vin Armani [source] Jun 21st : “Why Automatic Replay Protection Exists” post by Shammah Chancellor [source] Jul 7th : “The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network” [source] Jul 8th : “BCH protocol upgrade proposal: Use ASERT as the new DAA” post by Jonathan Toomim [source] Jul 18th : “$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens” [source] Jul 23th : “Announcing the Grasberg DAA” post by Amaury Séchet[source] Jul 24th : “Thoughts on Grasberg DAA” post by Mark Lundeberg [source] Jul 29th : CashFusion security audit has been completed [source] Jul 31st : Electron Cash 4.1.0 release with CashFusion support [source] 4th year, august 2020 – 2021 Aug 1st : “Bitcoin Cash: Scaling the Globe“ Online conference for ForkDay Celebration [source] Aug 2nd : >“Is there going to be a fork between ABC and BCHN?” > “IMO it is very likely. If not in November, then next May.” – Amaury Séchet Aug 3rd : “Dark secrets of the Grasberg DAA” post by Jonathan Toomim [source] Aug 3rd : “Joint Statement On aserti3-2d Algorithm“ post by General Protocols, including Cryptophyl, Read.cash, Software Verde & SpinBCH [source] Aug 3rd : Knuth announces they will be implementing aserti3-2d as DAA for november. [source] Aug 3rd : Amaury rage quit from the developer call [source] Aug 4th : “But why do people care about compensating for historical drift? Seems like a tiny problem and if it's causing this much social discord it seems not even worth bothering to try to fix.” Tweet by Vitalik [source] Aug 5th : “Bitcoin Cash (BCH) November 2020 Upgrade statement” signed by BCHD, electron cash, VERDE, BU members, BCHN developers, Jonathan Toomim, Mark B. Lundeberg and many others [source] Aug 5th : “BCHN FAQ on November 2020 Bitcoin Cash network upgrade” [source] Aug 6th : “Bitcoin ABC’s plan for the November 2020 upgrade” [source] the announcement that they will drop Grasberg in favour of aserti3–2d (ASERT) and will also include FPv4 in which 8% of the blockreward goes to ABC as development funding. Aug 7th : “Joint Statement from BCH Miners regarding Bitcoin ABC and the November 2020 BCH Upgrade.” Read.cash article by asicseer [source] stating “Over recent months, most miners and pools have switched to BCHN, and presently operate a majority of BCH hashrate.” Aug 7th : “Simple Ledger Protocol's Joint Statement Regarding Bitcoin ABC on BCH's November 2020 Upgrade” read.cash post by the SLP-Foundation [source]
Want to ₿ part of the revolution? Let’s start today by Tipping Satoshi!
Hello fellow Bitcoiners! It would seem that since the implementation of cash settled futures (right at the ATH) coupled with the banks being large investors in most, if not all, of the major bitcoin exchanges that they have been in control of the USD price of bitcoin for the past few years. Their ability to rehypothecate and commingle bitcoin seems to have no end (see Catlin Long’s Forbes articles about financialization) since no matter how often or how well it’s repeated, even so eloquently put by the great Andreas, “Not your keys, not your coins” there will always be a percentage of so called bitcoin “owners” that leave their Satoshi’s on these exchanges. Sadly this seems to allow them to continue their fiat OTC market / public spot price exchange games. And while I certainly believe that their control of the price is temporary and that the math will eventually determine its true value, I believe that there are a few things that we can do in order to push this forward in breaking the price free from the fiat currency master manipulators: 1) Don’t trust your wallets and “Roll Your Own” P2PKH addresses using dice. I say P2PKH as you can simply sign a bitcoin message with one of these addresses with a standardized signing message in your wallet and then verify that you are in fact of the private keys to these address by signing a bitcoin message and validating the signature via your own bitcoin node. 2) Tip Satoshi! That’s right, tip Satoshi! Wait, how can we do that? Well, one would assume that the very first receiving address (the address receiving the first coinbase transaction ( 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa ) would have had to of been Satoshi’s then we can simply send Satoshi some satoshi’s! By doing so you would be doing one of the following a. burning that bitcoin thus reducing the supply, or b. You would actually be tipping the creator(s) of bitcoin! After looking into this address, it would appear that the idea of sending Satoshi satoshis is not a new idea as there are tons of transactions that have been sent to him since the genesis block. In fact as I type this there is not only my transaction but another one pending in the mempool.
How to verify if a transaction is correctly signed?
Given an arbitrary signed raw transaction, how can we easily verify if all inputs are correctly signed (admiting all UTXOs are present and fee is higher than zero)? I know there is an RPC command in bitcoin core testmempoolaccept but this will also check if all inputs are available to be spent in the mempool/blockchain and I want to test a transaction that is a child to a parent transaction that has not yet been broadcasted. The signed transaction instance could have the scriptPubKey of the used utxos stored as metadata (since it needs to know these to sign each input) and use the stored utxos to perform this validation - alternatively, the verification method could ask for the scriptPubKeys of the utxos as input. I was looking for some nice way to do this in python but was surprised how neglected this task is:
trying to create bitcoin trading bot from coinbase api this is my code from coinbase.wallet.model import APIObject from coinbase.wallet.client import Client import time import json import random api_key = 'XXXXXXXX' api_secret = 'XXXXXXXXXXXXXX' client = Client(api_key, api_secret) user = client.get_current_user() print(user) this is the error coinbase.wallet.error.AuthenticationError: APIError(id=authentication_error): invalid signature anyone know whats wrong?
I have been making money online since 2015. There are so many ways that I can't remember them all, but here is a list of most of them - including the most significant ones. Hope this helps you somehow. As I'm from Canada, many of these (but not all) are for Canadians. From highest-earning to lowest, for your convenience:
Instead of telling the whole story of each method, and since you care most about the highest-earning opportunities, let's discuss those and if anyone has questions about something not mentioned in this post - don't hesitate to ask, I'm happy to explain.
This is by far my biggest earner. Basically, back in mid 2017, I realized that the crypto market was starting another bull run. I had previously learned that it was possible to make money advertising for companies by adding their custom signature to my account profile so that each post contains links to their website/products underneath it. They paid a lot more back then, because Bitcoin was only valued at around $700-1,000 when I started. This forum also doesn't care about having multiple accounts - in fact, it's fully allowed. Some people have hundreds of accounts. Therefore, I quickly searched the web for people selling their accounts... and bought a bunch of decently-ranked ones such that I was able to post full-time essentially, making up to $5/post which only takes a minute or two. The best campaign I joined is one called DeepOnion, which paid almost $30,000 in about 1 month!!! All I had to do is make 10 posts a week per account, and they deposited their coin to my wallet. After it was added to an exchange, the price quickly rose and one night my portfolio value went from $3,000 to over $20,000. I sold literally at the peak! I also made money from Bitcoin paying campaigns (they pay in BTC as opposed to their token/coin). Another big score was a campaign called ATLANT, where I made well over $20,000 ...however, didn't sell my tokens and now they are worth a fraction of that. Oh well. With the above said, I don't recommend doing this anymore, as the forum is filled with 3rd world spammers who realized that it was possible to make big money a couple of years ago, and now they have bots spamming constantly and applying to campaigns and such. I haven't posted there in a long time, probably over 6 months, because it wasn't worth it anymore. It was great while it lasted.
Notice how most of my earning comes from crypto? :p Well, I found a high-ranking Reddit post about Bitcoin that was ranked in the top 3 on Google for multiple good long-string keywords. In other words, many people (I'm talking hundreds) were finding it on a daily basis. I got my comment to the top spot, which includes an affiliate link and so over 5,000 people ended up signing up and I made a lot from it. My estimate is about $10,000 USD equivalent (pays in BTC daily), although could be more.
This is the same deal as Slickdeals, as explained below. However, after SD banned my accounts, since I had a high-karma Reddit account, I realized that my clients might be interested in advertising in "deals" subreddits (mostly Amazon, although it varied). Sure enough, they were and I got paid up to $300 for a single post in popular subreddits.
This is an app that pays you to lose weight. There are a few different types of challenges, including personal, individual and team challenges. The personal challenge is the one I am currently focusing on, as I bet $125/mo over 12 months ($1500), and if successful, stand to win $4,900 or $3,400 profit. I started at 360 pounds, and must weigh out at 180 pounds or less after 1 year to win. (I know, it's lots of weight to lose, but there is tons of money at stake.) If you join using my referral link, you get $40 added to your prize and I also get $40. By the way, most people who join make a mistake of betting too much or too little. For example, you might get the same winnings by betting $100/month or $500/month, because the algorithm caps out at a certain amount. With that said, use this calculator to get the exact amount that you should bet to maximize your ROI (click on "Calculate a Healthy Wager"). I didn't know about this before signing up, and ended up betting more than I had to make the same amount (although only $12).
I had a startup similar to Groupon, and had made a few Slickdeals accounts because of that. One day while driving, it occurs to me that people might be willing to have me post on SD using my account since the traffic is so high. Well, I drove straight to the library and posted my Skype contact on about 30 threads on Warrior forum, and that same night I was getting contacts from China and it never stopped. This was way back in 2015, and I had 3 accounts and made $20 per post. I was doing about 1 post/day and sometimes getting $5 to do upvotes as well. All-in-all, after contracting out someone on Fiverr to automate the whole thing, my accounts ended up getting banned and that was that.
During the hoverboard craze of 2015, I made a couple of rudimentary sites and managed to sell about 12 in total, making about ~$100 profit per sale, and selling the sites for $750 and $250 respectively for about $2,000 in total profit. This is the first time I used YouTube as a marketing medium, specifically paid product placement, which you can see here. This video sold 4 boards & I sold the site for $250, and the board cost about $350, so it was a good deal in the end. Well, that about sums up my online earning history. I'm sure there are (many) other ways I've earned a buck, but simply don't remember them all. Again, don't hesitate to ask any questions you may have and I am more than happy to answer. Thanks for reading. Edit: it's great to see that this post is interesting to many people My best suggestions to make fast, easy money are the following:
Growing Hydroponic Lettuce this is a new one to me, but I recently started growing lettuce and not only is it super enjoyable, but it's much more cost-effective than buying it from the store. Checkout this video which shows how. All that is needed is a container with some 2 or 3 inch holes, some "net cups" to hold the lettuce in, and some liquid nutrients which are available on Amazon.
Coinberry (non-ref) I literally signed up, verified my account and got the bonus within an hour. There is a 3 day hold to withdraw funds, but it's an easy $20 and they also give an extra $10 "customer appreciation bonus" after your first deposit, so you get $30 total.
HealthyWage (non-ref) If you need to lose weight anyway, then you might as well get paid while doing so. I recommend doing a minimum amount of weight-loss over 6 months, to make it easier on yourself. When you signup with my link, we both get $40.
Dietbet no ref link, but this is a really good earner. I make about $200/month with it by playing in 9 games simultaneously.
Honeygain (non-ref) this one is entirely passive, and I highly recommend it. Simply download the app and you make money for browsing online, without doing anything else. I make about $50/year with just my phone. When you signup with my link, we both get $5.
Crypto.com (non-ref) this is a legit cryptourrency site that gives you $50 when you sign up & deposit $250. I know it's legit, because I just signed up a few days ago and already got my bonus. Simply buy their crypto in the app with your credit card & stake it for 6 months, and they give you $50.
08-13 21:45 - 'Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol' (self.Bitcoin) by /u/Nest_Fan removed from /r/Bitcoin within 24-34min
''' As the world’s leading regulatory compliant digital asset exchange, Coinbase sets one of the most stringent requirements for digital asset listing which includes technical evaluation of projects, legal and risk analysis, market supply and demand analysis, and crypto-economics. Coinbase holds a strong reputation in the digital asset industry, and thus the “Coinbase Standard” is considered as the industry benchmark for other digital asset projects, and the market has even seen the “Coinbase effect”. On July 25 2020, Coinbase quietly launched the pricing chart of a decentralized oracle project, NEST Protocol (NEST), into its portal. Although Coinbase has yet to announce the inclusion of the project in its evaluation list, it represents a keen interest in the DeFi sector, and particularly in the DeFi price oracle projects. NEST Protocol is the rising star in the decentralized price oracle sector Decentralized financial services offered by the current mainstream DeFi platforms such as MakerDAO, Compound, dYdX, etc. rely heavily on the market data provided by the oracle projects. Oracle projects act as reliable information sources to feed these price data to other DeFi Projects, connecting the price data from the centralized world to the DeFi space. As such, the price oracle is an integral part of the decentralized financial services infrastructure. Traditionally, the price oracle collects data from different platforms and feeds these data points to the DeFi space to create data reference points to enable them to function properly. However, many problems currently exist in the DeFi space, for example, blockchain network congestion, malicious attacks, wild market fluctuations, and other factors that may cause the data given by the price oracle to deviate from the true market data. These ultimately cause users to trade on wrong information in the DeFi space and increases such transaction costs. Decentralized finance requires a fast, secure, and reliable price oracle. The birth of the decentralized price oracle is the embodiment of the blockchain industry’s thinking, and the current market projects offering decentralized price oracle services which includes NEST Protocol, Chainlink, Band Protocol, Tellor, Witness, Oraclize, and many others. The innovation of NEST-Price is that every data point has been agreed upon by market validators, in line with the blockchain consensus mechanism. NEST-Price synchronizes the off-chain price in a highly decentralized manner, creating real and valid price data on-chain. This is the unique differentiator between NEST-Price and other price oracles. Compared with other price oracle projects, NEST also has other features and advantages, such as the proposed peer-to-peer quotation matching as well as its unique verifier verification structure, making NEST more resilient to malicious attacks, resulting in a more decentralized network, and it’s on-chain prices closer to the fair market price. All of this has resulted in the NEST Protocol becoming a rising star in the DeFi price oracle sector. HBTC.com selects high-quality projects to list and partnering with NEST to promote the development of DeFi ecosystem During the selection of quality assets, exchanges like [HBTC.com]1 and Coinbase adhere to the principle of a rigorous selection of assets from different projects to enable a proper range of digital assets. At the same time, in order to solve existing pain points in the digital asset industry, which currently lacks a market-making management solution, HBTC.com also has launched its own “coin listing crowdsourcing [liquidity initiative]2 “, redefining the exchange market making model. HBTC.com, through its coin listing strategy, effectively reduces the problem of low liquidity in the early stages of high-quality projects, ensuring the smoothness of the user experience, and achieves a win-win situation for traders, the community, and the respective trading platform. These initiatives, coupled with reliable user protection and a responsible attitude, have earned a positive reputation among users. Since its inception, the HBTC.com exchange has been committed to the discovery of both quality and promising digital asset projects. At a time when DeFi is growing rapidly, HBTC.com has a unique perspective for the decentralized price oracle sector and has prioritized NEST as a premium partner to debut the project alongside with its global branding upgrade. In addition, HBTC.com has [100% proof of reserves]3 for traders to validate the existence of assets via the Merkle tree, which brings transparency to the extreme. In May 2020, NEST token delivered a 883.29% of return, at its peak, after its global debut on HBTC.com. At present, HBTC Exchange addresses holding NEST token accounts in a total of 141 million, ranked first in the overall network. At the same time, the HBTC Exchange network exclusively releases NEST staking mining and data show that NEST 24-hour turnover has reached $20.4 million. Post-listing of the NEST token, HBTC.com has also listed DeFi projects such as DF, OKS, NEST, SWTH, JST, NVT, and other DeFi projects with market potential; some projects have achieved astonishing performance in the secondary market. HBTC.com’s path to DeFi: developing public chains to prepare for the future ecosystem breakout. In terms of the DeFi product and ecosystem infrastructure, HBTC has deployed HBTC Chain since launched in 2018, an infrastructure designed for decentralized finance and DeFi business with patented Bluehelix decentralized cross-chain clearing and custody technology. The HBTC Chain is the DeFi ecosystem infrastructure that the team has spent a significant amount of effort to build. It is based on decentralization and community consensus and integrates cryptography and blockchain technologies to support decentralized association-based governance capabilities at the technical level. Based on decentralized key management, combining various cryptography tools including ECDSA, commitment, zero-knowledge proof, and multi-party computation, It implements the distributed private key generation and signature for cross-chain assets among all validators. On top of that, this technology can realize light-weight and non-intrusive cross-chain asset custody. On the clearing layer, HBTC Chain employs BHPOS consensus and horizontal sharding mechanisms to achieve high-performing transaction clearing, and implementation of OpenDex protocol to help the development of the DeFi ecosystem. In addition, with the success experience of Bluehelix Cloud SaaS and white label solutions and the HBTC Brokerage system, HBTC’s public chain also innovatively supports CEX+DEX mixed matchmaking model and OpenDex protocol and proposes the three-tier node system which consists of standard node + consensus node + core node. This structure provides HBTC public chain certain advantages in terms of performance and cross-chain transactions. Users can easily establish a DEX with OpenDex protocol at nearly zero cost, and all DEX will share the liquidity and support customized user interface and trading parameters. The trading experience can be completely comparable to centralized spot exchanges. With the launch of its test network, it is now possible to develop various DeFi applications on the HBTC public chain, such as decentralized swap, so that private keys are not controlled by any party; no KYC, which can prevent personal information leakage; and asset security through the setting of invalidation, cancellation of transactions and other functions, cross-chain asset mappings, such as the ability to issue cross-chain cBTC or other chain tokens, fully decentralized asset mapping contracts, and 100% reserves. Conclusion In the past few months, the DeFi market has been extremely active, the price of DeFi tokens has been rising, and a new round of competition with the centralized exchanges has started. HBTC Chain relies on the powerful technology of Bluehelix and [HBTC.com]1 , giving all public chains the ability to interconnect, and put into both DeFi and SaaS levels. Undoubtedly, as one of the first exchanges to build the DeFi ecosystem, HBTC is leading the breakout in the current DeFi craze and has now become the first choice of users to engage with quality DeFi projects. From BITCOIN news([[link]6 ) ''' Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol Go1dfish undelete link unreddit undelete link Author: Nest_Fan 1: *btc*com/ 2: m*diu**com/hbt***ficia*/hbt*-launches-ba**liquidi*y***owd*unding-li*ti*g-plan-redefine-t*e*exch*nge-*i*tin**m*d*l***6*58f*f1d* 3: hbtc.ze**e*k*co*/hc/*n-us/a**icles/3***46287754-HBT*-10*-*ro***of*Reserve 4: hb*c.co*/ 5: n*ws.bitcoin.c*m*bu*ld*ng-t**-infr***ructur*-f*r-the*fut*re*decen**ali**d-*inanc*a*-market-coi**as*-*ncluded-h*t*-*o*-*ebut-de**-p*oject-n*st-**otocol* 6: n**s.bit*oin*com/building-th*-infrast*u*ture*for-t*e-fut****decen**a**zed**inancia*-m*rket-coinbase-**c*uded-*b*c-c***deb***defi-**oject-*est**r**ocol/]^^5 Unknown links are censored to prevent spreading illicit content.
Go to Coinbase and login with your data . 2. After you already logged in , click this link and you'll see bunch of address (I bet you already know , Coinbase uses dynamic Bitcoin Address (Every you receive coins , your address immediately changed with the new one for minimize the risk being hacked) 3. From Bitcoin Wiki. Jump to: navigation, search. For the business, see Coinbase (business). The coinbase is the content of the 'input' of a generation transaction. While regular transactions use the 'inputs' section to refer to their parent transaction outputs, a generation transaction has no parent, and creates new coins from nothing. The coinbase can contain any arbitrary data. The genesis ... Das Bitcoin-Protokoll verwendet derzeit einen bestimmten Signaturalgorithmus, den so genannten Elliptic Curve Digital Signature Algorithm (ECDSA). In nicht allzu ferner Zukunft wird erwartet, dass ein neuer Signaturalgorithmus namens Schnorr-Signaturen ein gültiger Signaturtyp im Bitcoin-Netzwerk ist. Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Bitcoin Cash. BCH--Ethereum. ETH--Ethereum Classic. ETC--Litecoin. LTC--0x. ZRX--View all. This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with Coinbase Inc or any of its affiliates and Coinbase is not responsible for its content. This content and any information contained therein, does not constitute a ...
Coinbase - https://www.coinbase.com/join/58bc71d94b766c619e48c873 where to find option to connect your paypal with coinbase. link accounts and sell bitcoin t... The CryptoDad Shows you the easiest and safest way to buy Bitcoin using Coinbase! Check out the rest of this description for relevant links and additional in... Sign in to add this video to a playlist. Sign in. Share More. Report. Need to report the video? Sign in to report inappropriate content. Sign in. Transcript; Add translations. 4,200 views. 15 ... Coinbase est un des Bitcoin wallets les plus populaires. Il permet également l'achat et la revente de Bitcoin ainsi que le transfert vers votre compte bancaire. Son interface est simple et intuitive. Become a Patron! - https://www.patreon.com/paceycrypto Join Coinbase to get a Bitcoin Wallet and get 10 dollars worth of BTC for using my link: https://www.c...