The home for the most innovative cryptocurrency, VeriCoin and Verium VeriCoin: Proof-of-Stake-Time Protocol. PoST Verified. Verium: Proof-of-Work-Time Protocol. PoWT Verified. CPU Mine-able (GPU and ASIC Resistant)
Welcome to unquestionably the best, cleverest and down-right coolest privacy-tech community on the planet! DarkNote (formerly known as duckNote) is an anonymous open-source cryptocurrency based on CryptoNote technology and the CryptoNight algorithm. While we take our technology seriously, we are also a very friendly and fun community. Please come in, have a seat, eat a duck or two... and join us!
https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/220.127.116.11 Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that. Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap. We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout. Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.
Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now. Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date. The transition height is also when the team requirement will be relaxed for the network.
Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.
The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use. There are so many goodies here it is hard to summarize them all. I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures. The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!
Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.
Network magnitude unit pinned to a static value of 0.25
Max research reward allowed per block raised to 16384 GRC (from 12750 GRC)
New CPIDs begin accruing research rewards from the first superblock that contains the CPID instead of from the time of the beacon advertisement
500 GRC research reward limit for a CPID's first stake
6-month expiration for unclaimed rewards
10-block spacing requirement between research reward claims
Rolling 5-day payment-per-day limit
Legacy tolerances for floating-point error and time drift
The need to include a valid copy of a CPID's magnitude in a claim
10-block emission adjustment interval for the magnitude unit
One-time beacon activation requires that participants temporarily change their usernames to a verification code at one whitelisted BOINC project
Verification codes of pending beacons expire after 3 days
Self-service beacon removal
Burn fee for beacon advertisement increased from 0.00001 GRC to 0.5 GRC
Rain addresses derived from beacon keys instead of a default wallet address
Beacon expiration determined as of the current block instead of the previous block
The ability for developers to remove beacons
The ability to sign research reward claims with non-current but unexpired beacons
As a reminder:
Beacons expire after 6 months pass (180 days)
Beacons can be renewed after 5 months pass (150 days)
Renewed beacons must be signed with the same key as the original beacon
Magnitudes less than 1 include two fractional places
Magnitudes greater than or equal to 1 but less than 10 include one fractional place
A valid superblock must match a scraper convergence
Superblock popularity election mechanics
Yes/no/abstain and single-choice response types (no user-facing support yet)
To create a poll, a maximum of 250 UTXOs for a single address must add up to 100000 GRC. These are selected from the largest downwards.
Burn fee for creating polls scaled by the number of UTXOs claimed
50 GRC for a poll contract
0.001 GRC per claimed UTXO
Burn fee for casting votes scaled by the number of UTXOs claimed
0.01 GRC for a vote contract
0.01 GRC to claim magnitude
0.01 GRC per claimed address
0.001 GRC per claimed UTXO
Maximum length of a poll title: 80 characters
Maximum length of a poll question: 100 characters
Maximum length of a poll discussion website URL: 100 characters
Maximum number of poll choices: 20
Maximum length of a poll choice label: 100 characters
Magnitude, CPID count, and participant count poll weight types
The ability for developers to remove polls and votes
[18.104.22.168] 2020-09-03, mandatory, "Fern"
Backport newer uint256 types from Bitcoin #1570 (@cyrossignol)
Implement project level rain for rainbymagnitude #1580 (@jamescowens)
Upgrade utilities (Update checker and snapshot downloadeapplication) #1576 (@iFoggz)
Provide fees collected in the block by the miner #1601 (@iFoggz)
Add support for generating legacy superblocks from scraper stats #1603 (@cyrossignol)
Port of the Bitcoin Logger to Gridcoin #1600 (@jamescowens)
Implement zapwallettxes #1605 (@jamescowens)
Implements a global event filter to suppress help question mark #1609 (@jamescowens)
Add next target difficulty to RPC output #1615 (@cyrossignol)
Add caching for block hashes to CBlock #1624 (@cyrossignol)
Make toolbars and tray icon red for testnet #1637 (@jamescowens)
Add an rpc call convergencereport #1643 (@jamescowens)
Implement newline filter on config file read in #1645 (@jamescowens)
Implement beacon status icon/button #1646 (@jamescowens)
Add gridcointestnet.png #1649 (@caraka)
Add precision to support magnitudes less than 1 #1651 (@cyrossignol)
Replace research accrual calculations with superblock snapshots #1657 (@cyrossignol)
Publish example gridcoinresearch.conf as a md document to the doc directory #1662 (@jamescowens)
Add options checkbox to disable transaction notifications #1666 (@jamescowens)
Add support for self-service beacon deletion #1695 (@cyrossignol)
Add support for type-specific contract fee amounts #1698 (@cyrossignol)
Add verifiedbeaconreport and pendingbeaconreport #1696 (@jamescowens)
Add preliminary testing option for block v11 height on testnet #1706 (@cyrossignol)
Add verified beacons manifest part to superblock validator #1711 (@cyrossignol)
Implement beacon, vote, and superblock display categories/icons in UI transaction model #1717 (@jamescowens)
Eth 2.0 vs Polkadot and other musings by a fundamental investor
Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech. Can someone help me see the downsides of diversifying into DOTs? I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing? I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
What else am I missing?
The upsides. Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys? Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals. Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't. That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap. So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer. That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that. As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid. Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that. Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them. Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism. Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment. Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released. Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like. Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/ Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
I’m a commentator for a tournament of nightmares. I’m not sure the participants are willing.
You’d think being a psychiatric ward for 38 months would be enough to deter a guy from ever going back to a sport that involves watching human beings at the height of their physical prowess beat the living shit out of each other. Sometimes regulated, sometimes not. But, here I am, fresh outta the loony bin and reading the most unusual advertising slogan I’d ever laid eyes on; “The most terrifying tournament has come around once again! Conquer your fears in theNFC*…* literally.” This was the business card that accompanied my black envelope as it was handed to me on the discharge ward by a well dressed and gangly fella with an uncomfortable wide smile. He didn’t say much of anything, just that his name was “Watson” before bowing and holding up the envelope. “Heh, like the butler, right?” I said, taking the envelope from his plasticine hands. His smile ripples across his face and he nods slowly, his perfect hair unmoving in the strong wind before he turns on his heel and walks back to the black sedan. The cold air chilled my bones, and I pulled the medical bracelet from my wrist, grimacing at the marks underneath before following Watson to the Sedan and hauling my luggage into the trunk before setting off, not knowing how I came to even be there in the first place. I guess right now, that doesn’t really matter. What matters is where I am now and what I’m doing. "blood strewn across the canvas, frayed brain matter sailing across my head and splattering against the wall, a woman standing in a pool of blood as the deformed creature twitches on the ground" My name is Sal “Motormouth” Sabotta, I’m a sports commentator by trade. Be it combat sports, pro wrestling, death-matches or martial arts tournament, I’ve done it all. I won’t lie; Work can be hard to come by. I’ve spent months struggling for rent and resorting to less tried-and-true commentary methods in order to survive. That has, at times, involved trying my hand at some of the more underground competitions; unregulated fights, sick, illegal games bet on by people on the dark web and worse… Things I’m not going to detail here. Things I’m not proud to have taken a hefty pay-check for from greasy, sweaty fucks in Armani tracksuits and stinking of cheap booze and coke all the way up to well-dressed bitcoin farmers in their 20s who probably own child slaves. In short, I’m no stranger to the grim underworld or the secrecies with which they conduct their work. I see money and an easy way to make it with my voice; I don’t ask questions. So when I received an email the day of my discharge from the hospital and I’m told “you’ll receive a letter from Mr. Watson, take it and follow the instructions to the venue. Pay up front as agreed.”, I don’t question it. Especially when the note is personalised, and the doctor says my medical fees were covered. We drove past numerous landscapes, vistas and neighbourhoods before veering off into an industrial estate and entering an underground tunnel. Half a mile in, Watson stops the car and peers back, smiling. He directs a thumb to the service door in the side tunnel and rubs his neck, a scar running from ear to ear. Was he a former fighter? Gangster? I sighed and got out, still in my medical gown and hauling ass to the door. It opened before I could reach out and a tall, muscular woman in her late 30s greeted me with a smile. She was imposing, powerful in her gait, a black eyepatch with several seals adorning the sides accompanying a thick scar down her face did nothing to stop her beauty. She wore a tank top with a black cloak with white fur on the tops and sleeves, a thick black chain clasp around the neck. I won’t lie; she looked badass. Terrifying, but badass. “‘Bout time ya showed up, Sabotta!” She grinned and put a cinderblock of a hand on my shoulder. I’m 5’10 and 180lbs, but she made me feel like a child in front of her. The power emanating from her fist was unbelievable. “C’mon, the trial match is starting and I don’t want no tourney without a broken in commentator! You gotta know the ropes of this place!” “You know your driver was standing right outside when I was discharged, right? Couldn’t think to give me an extra day or two to freshen up?” I frowned. This wasn’t normal protocol, even for back-alley promotions like this. She just laughed at me and slapped my shoulder. “The tournament waits for nobody, Sal. Times a-wasting.” The hallway is dimly lit and the sounds of a ruckus above us are as impossible to ignore as the sounds of thudding, screaming and snapping. As we pass several doors with one-way mirrors on the front panes, I hear sounds I could have never placed in the animal kingdom or otherwise; gurgles, clicks, grunts and even otherworldly whispers. “What the fuck is that? You guys doing animal fights down here? I mean I called a monkey fight once, but it’s not exactly… pleasant.” I shuddered, thinking of the violence chimpanzees can inflict on one another, let alone humans. She never stopped walking or staring directly ahead when she responded.“Those ain’t animals. Not by a long shot.” Before I can probe further, I’m hurried into a changing room and practically swept off my feet by her strength. I turn back and she’s already poking her head out the door. “You’ve got 5 minutes, get your shit and head up the left stairs, Watson will guide you.” She grinned, and I saw gold filings in her teeth that glinted as much as her bedazzled eye patch. “Ya came highly recommended… I expect good things!” I do as instructed and within 5 minutes I’m back in my commentary clothes; an open buttoned Hawaiian shirt with my old Hotel Inertia shirt underneath, skinny black jeans and shimmering black shoes. I found some old slick gorilla powder in my hair and dusted it up, opting for the dishevelled look as I knew I’d be sweating by the end of the ordeal. “You shouldn’t bother putting in so much effort, y’know. They’re not gonna care how good you look, only how well you talk.” Standing in the doorway was a woman in her 40s, dark-skinned and hair clad in meticulous dreadlocks, tied back into a large bun with a pair draped down the sides of her head. She held a thick book in one hand and pocketed a serrated blade in the other before motioning to me. “We’ll have to do the pleasantries on the way, the match is starting and you don’t wanna miss that. The commissioner isn’t the type you want to upset. Especially when you’re not here by choice.” I looked for a moment, dumbfounded. “I’m here because I was invited, already got my pay from the woman who let me in.” I shrugged, pocketing the envelope and getting my equipment from the suitcase. The woman gave a sad smile and shook her head. “Of course you’d think that. She likes it that way. Bet she didn’t introduce herself either, did she? C’mon.” I follow her down and after a few minutes we come to a fork in the hallway, an elevator system to our right and a stairway to the left. Dutifully, Watson stood patiently, still grinning and motioning us to go up. Once we’re situated in our booth upstairs, I set my equipment up and look down at the table, expecting a slew of papers and fighter information in front of me. I look to the woman to ask, but she doesn’t break her stare in the darkness, looking down at the arena floor some 100ft below us.“You won’t need that. Not for this match.” The lights flicker on and the enormity of this venue reveals itself to me. It’s a structure of imposing steel, dried blood, claw marks and other unknown substances that littered the 40ft wide circular pit the fighters contested in, a black lift on either side from the fighters corners that I can only assume ascended up from their locker room area. Around them were chain-link fences that rose up to the audience stands above, situating around 300 people across all four sides. At the very top sat our booth, the commissioner’s office directly opposite, the judges booth to our right and the fight analysts/medical area to our left. Standing in the centre with a spotlight over them was the commissioner, microphone in hand and an energy that was almost palpable. “Ladies, Gentlemen and Freaks of all kinds out there in the universe. I welcome you once more to the annual Nightmare Fighting Championship Tournament! It’s been a long year, but we have new blood to pit against our resident night terrors and some fresh fears to feast on the fortuitous soul that frolics into their den. As always, our contestants will be fighting for their freedom, a chance to get their wish or to fight for the ultimate prize.” The crowd cheers and the majority are hidden behind thick plexiglass and lighting, but I can see some have Karate Gi’s, weapons in hand and others with demon masks as they whoop and holler. The clientele here were, at least in my estimation, experienced. But I was feeling a lump in my throat at that one phrase The Commissioner so surreptitiously added in without issue; “As always, our contestants will befightingfor theirfreedom*”* I leaned to the woman next to me and as if she knew what I was going to ask; she put a finger up and shook her head. Eyes awash with fear and a grimness I had only seen on that of trainers who knew their fighter was not ready for the bout ahead. She pointed the finger down to my machine, then to the pit. Turning it on, I looked down as the commissioner began to talk, readying myself to commentate on whatever weirdos came up to battle. “But before we get to that, we have an exciting exhibition match for our loyal supporters who bankroll this event every year. Without you elite few, we could not do this. You are the pound for pound goats of support! Now, without further ado; let’s get this show on the road!”The rest of the lights clicked on and spun around the venue as they raised the profile of the bout, the elevators both whirring into action as the right one arose first. “In this corner, from the marionettes shop and accompanied by his Bunraku doll “Mr. Stares”, it’s the man who pulls the strings… THE PUPPET MAN!” Out steps a tall, thin Japanese man in full clown makeup. His head shaven save for two ridiculous strands of hair stretched out and fluffed up to their limits, like red antennae. His eyebrows large m’s that practically cover his forehead, the nose a completely vacant slot with a black hole drawn in and the mouth… the fucking mouth was nailed shut. Literally. Sharp rusted nails had been hammered down through the lips with such force that they’d bent. A sickening crimson red face-paint stretched across the entire bottom half of his face, making it seem far larger by comparison. He carefully held a small bundle underneath a sheet and bowed deeply to the audience before standing at his designated spot. “In the other corner, from the streets of god knows where and the womb of someone who misses him… "Hulked Up" Michael O’Donnell!” I watched with wide eyes and a stomach threatening to evacuate its contents at any moment as the smoke cleared and a boy no older than 17 rushed out, beating his chest and screaming to the crowd as if he was the Incredible Hulk. I don’t know if they drugged the poor kid, but he clearly had no idea where he was. “There are no rules, no referees and judges only exist in case of a draw or unclear victory. Our commentary team will take over and we wish you a phenomenal match.” She drools a little before she speaks again, looking up at me and winking. “Let’s make this a violent one.” She snaps her fingers and leaps for the fence, climbing up with ungodly ease before sitting on her makeshift chair in her office. I have no idea what I’m seeing but every cell in my body is urging me to run; I feel my knees tense and my frame rise ever so slightly before the woman next to me puts her hand on my thigh, pushing me down with great force. “You have a job to do, so do I. Trust me, you think you can leave but if you get out of this chair, not only will YOUR life end. Mine will too.” She unsheathes the serrated blade and looks at me with pity. “We both have a part to play here, so put the headset on and let’s do our job, no matter how hard it is.” Hands shaking, I pick up the headset and connect it to the portable recorder and take a breath. “I… I need your name. What is it you do?” I stutter, trying to calm myself. She hands me a bottle of water as the surrounding lights dim and the spotlight focuses on the spectacle below. “I’m Madame Nelle Lockwood, cryptid hunter and your co-host to guide you through tonight. Good to meet you, Sal.” - NFC EXHIBITION MATCH: "Hulked Up" Michael O’Donnell vs The Puppet Man w/ Mr. Stares “Welcome fight fans from around the world, god knows how you’re listening to this or WHY, but here we are. I’m your host Sal “MotorMouth” Sabotta, wishing this was all a bad dream. Joining me this evening is our cryptid specialist and all round badass Madame Nelle Lockwood. How are you doing, Nelle?” She looks at me with a bewildered look on her face before blinking and coming to her senses. “Uhh… good! All things considered… boy, you really have a professional knack for this, huh? I can see why Commissioner Alduin brought you in." “Ahh, yes. That’s right, folks! NFC Commissioner Alduin invited me here personally and our exhibition match proves to be… challenging. Let’s check in on the action below.” I look down and see The Puppet Man sat down and gesturing to the figure under the sheet, like he’s got a negotiation going on. The boy, undeterred and furious, rushes towards him and takes his back, slapping his head and even pulling on his hair with extreme prejudice. “Well take a gander at that, that kid has absolutely NO fear. When I was his age, I would have stayed FAR the fuck away from a nightmare spectre like that. But hell, this is all part of the show, right? Hope they’re paying that poor guy down there a sizeable sum to throw a fight to a child. What do you think, Nelle; is this the weirdest make-a-wish fulfilment task or what?” I look over to her, hoping she’d indulge me and that I could believe this was just going to end with a pissed off actor storming away when the child hit him too hard. But Nelle was scanning her now open book and looking for information on dolls. “He’s talking to his doll because it’s desperate to be let loose. He’s trying to bargain with it to spare him. This is the nature of the puppeteer and his master.” She pushes the book to the centre of the table and shows me a faded illustration of a pristine Bunraku doll; a kind of meticulously crafted Japanese take on the ventriloquist doll. The limbs are thinner and the face is more minimalist, but still no more frightening. “They usually have a symbiotic relationship, but it seems this one obeys the doll and will not want to face more punishment.” “What do you mean more punishment?” I ask, looking back down at the feverish puppet man as he tries signing frantically under the sheet, even putting his head under as the kid bites his arm and kicks him, screeching. “The nails, Sal. Those aren’t to silence him, they’re to punish him.” The rest happened in slow motion; the sheet fell down. The puppet man stood up and walked to his side of the fighters corner, facing the elevator and placing his face into his forearms as he shook. The boy followed to keep attacking, but with one swift kick to the midsection, the boy was propelled back to the centre of the pit where the doll sat. If there was a human face, I didn’t see it. Instead, I was staring down at a small wood carved spider, the head sporting black geisha hair and the makeup still present, but rows of sharpened black teeth protruded from the clicking mouth and two larger eyes jutted out from the base of the skull, smaller ones dotted closely around it. It was like seeing a puppet ogre spider. “Looks like The Puppet Man has let Mr. Stares out to say hi and I can certainly see why he was under that sheet, this one isn’t pretty folks! The face doth fit the name. The question is, what’s he doing to do ne- “I didn’t need to finish the question. My hands shook, and the world spun around me as this creature crawled towards the still wheezing boy with ungodly speed and perched itself expertly beside him. I don’t know if it was my eyes or the distance from where I sat, but this was NOT a small puppet. He was easily half of the boy’s height and that became more unnerving when he reared up on his back legs, the head clicking up and the raspy voice hissing out like a gas leak in a building. “Hey, hey, kid! Wanna make a deal?” The kid rubbed his eyes, seemingly realising where he was as he calmed down and an air of utter confusion around him. “If you let me be your new master and you promise to take care of me, I’ll let you go!” His head spun around and the jaw clicked ferociously as he giggled, extending out a clawed paw. “Whaddya say?” The boy, still confused, slowly reached out his hand and the moment immediately reminded me of a slew of nature shows I’d seen as a kid; where a predator waits until the prey is lulled before striking. I felt the chill up my spine as he extended his hand and grabbed Mr. Stares. In that moment, he leapt up the arm and bore his way into the boy’s mouth, down his throat and shredded his flesh. The sound was so horrifying, so visceral that it outshines any backyard stabbing, joint snap or broken nose. The boy didn’t even have time to scream, he simply looked up with tear-stained eyes as the puppet disappeared. Then he started walking without him realising. He looked down at his limbs, terrified, looked over at The Puppet Master, who still had his head to the elevator and pleaded with someone, anyone to help him. I looked to Nelle who refused to take her eyes away, studying the battle in an almost morbid scientific curiosity, detached entirely from the scenario. I couldn’t fathom how she did it, how she ignored this boy begging us to get him out of there. I wanted to. Every instinct in me as a fight fan and a decent human was to scream “STOP THE FIGHT!”. But clearly, when my own life is at risk and money is involved... I am not a decent human. Instead, with bile in my throat and a sweating forehead, I did my job. “M-My goodness! The P-uppet, I mean, “Mr. Stares” has BECAME the puppet master, surely the fight will be over with our young competitor incapacitated? What does our commissioner have to say about this?” She stared at me, her one eye gleaming and her face elated with the violence. “It ain’t over yet, church boy. We haven’t even seen the finale, have we Puppet Master?!” She laughs and slaps her knee, the puppet master sobbing as he sinks to the floor and she continues. “He ain’t done feeding, not yet.” The way she said that word “feeding” nearly made me lose what food I had in me. That was a young man, somebody's baby boy… “What does she mean by that, Nelle? What is the strategy to victory here?” Nelle looked down at her book and traced her finger across a passage before wiping her forehead and pushing the locks aside. If her composure wasn’t breaking yet, it would do soon. “This kind of parasitic doll feasts on its prey and targets non-essential organs first, controls the host with the neurotoxin in its tail and then, when it’s finally content, it gives the brain a second injection.” “What happens then?” I asked, my own professionalism hanging on by a fucking thread at this point. She shook her head and pinched the bridge of her nose.“I guess you’ll see in a moment, I sure as hell don’t want to. Not again.” Before I can prompt her further, the boy lets out an ear-piercing shriek and falls to his knees, gripping at his head before it turned red, then purple and finally an ugly shade of puce before… The sound of a watermelon hitting the ground from a great height is the best comparison you’re going to get without making me want to rush to the toilet to puke for a third time. But that’s what happened. His head burst and chunks of his skull, flesh and brain matter sprayed the pit and the walls, some hitting my desk and making me audibly shriek, much to the commissioner's delight. “HA! You didn’t run! I like you, Sal. You pass for the tournament!” She hauls her body up and slams down to the pit, applauding as the microphone descends from the heavens. “And your winner; The Puppet Man and Mr. Stares!” The crowd erupts with applause as the weeping puppet man pulls the blood-soaked puppet out, places him under the sheet and silently begins to walk back to the elevator while attendees clear up the boy’s corpse. “What… what the fuck IS this place?” I ask Nelle, pausing my recording. “This is where nightmares are kept and set upon mostly unwilling competitors for the world’s amusement. You HAVE done dark web fights before, right? Mafia snitches being put into lions pits, bum fights, addicts fighting women to score… this can’t be THAT unusual to you?” I stared at her incredulously. Was that even a question? “I did the dark web ONCE and it damn sure didn’t involve monsters!” She scoffs and closes her book, stretching before looking at me with contempt. “Oh, it did. Just not the ones you hear about in fairytales. Good luck with the selection process. I’ll be back for the opening round. Don’t try to run, they’ll devour us both in minutes, if you think this is the pinnacle of what lurks beneath this club, you're in for a rough night.” She sauntered off, leaving me deflated, sickened and terrified. Unable to leave and frustrated to the point of tears that I couldn’t express that concoction of emotions, I did what I always do; I regressed and pressed “record” on the device as Commissioner Alduin continued. At that moment, however, I was deaf to it all. The gravity of the situation had fully enveloped me… They weren’t kidding about the unwilling participants, I just didn’t realise I would be one of them.On every side of me sits men and women with a desire for violence that goes beyond the norm, beyond the sane and beyond the boundaries of humanity.Below me are an untold number of creatures rattling their cages and howling for blood. Across from me is a woman so powerful she could crush my skull beneath her boot with the utmost ease if it so amused her. That invitation was nothing more than my own ransom note in pretty colours and flattering platitudes. I was in a tournament housing nightmares incarnate. And it would only get more violent from here on out. - The opening round was a blood bath.
This is a follow-up on https://old.reddit.com/Bitcoin/comments/hqzp14/technical_the_path_to_taproot_activation/ Taproot! Everybody wants it!! But... you might ask yourself: sure, everybody else wants it, but why would I, sovereign Bitcoin HODLer, want it? Surely I can be better than everybody else because I swapped XXX fiat for Bitcoin unlike all those nocoiners? And it is important for you to know the reasons why you, o sovereign Bitcoiner, would want Taproot activated. After all, your nodes (or the nodes your wallets use, which if you are SPV, you hopefully can pester to your wallet vendoimplementor about) need to be upgraded in order for Taproot activation to actually succeed instead of becoming a hot sticky mess. First, let's consider some principles of Bitcoin.
You the HODLer should be the one who controls where your money goes. Your keys, your coins.
You the HODLer should be able to coordinate and make contracts with other people regarding your funds.
You the HODLer should be able to do the above without anyone watching over your shoulder and judging you.
I'm sure most of us here would agree that the above are very important principles of Bitcoin and that these are principles we would not be willing to remove. If anything, we would want those principles strengthened (especially the last one, financial privacy, which current Bitcoin is only sporadically strong with: you can get privacy, it just requires effort to do so). So, how does Taproot affect those principles?
Taproot and Your /Coins
Most HODLers probably HODL their coins in singlesig addresses. Sadly, switching to Taproot would do very little for you (it gives a mild discount at spend time, at the cost of a mild increase in fee at receive time (paid by whoever sends to you, so if it's a self-send from a P2PKH or bech32 address, you pay for this); mostly a wash). (technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash, so the Taproot output spends 12 bytes more; spending from a P2WPKH requires revealing a 32-byte public key later, which is not needed with Taproot, and Taproot signatures are about 9 bytes smaller than P2WPKH signatures, but the 32 bytes plus 9 bytes is divided by 4 because of the witness discount, so it saves about 11 bytes; mostly a wash, it increases blockweight by about 1 virtual byte, 4 weight for each Taproot-output-input, compared to P2WPKH-output-input). However, as your HODLings grow in value, you might start wondering if multisignature k-of-n setups might be better for the security of your savings. And it is in multisignature that Taproot starts to give benefits! Taproot switches to using Schnorr signing scheme. Schnorr makes key aggregation -- constructing a single public key from multiple public keys -- almost as trivial as adding numbers together. "Almost" because it involves some fairly advanced math instead of simple boring number adding, but hey when was the last time you added up your grocery list prices by hand huh? With current P2SH and P2WSH multisignature schemes, if you have a 2-of-3 setup, then to spend, you need to provide two different signatures from two different public keys. With Taproot, you can create, using special moon math, a single public key that represents your 2-of-3 setup. Then you just put two of your devices together, have them communicate to each other (this can be done airgapped, in theory, by sending QR codes: the software to do this is not even being built yet, but that's because Taproot hasn't activated yet!), and they will make a single signature to authorize any spend from your 2-of-3 address. That's 73 witness bytes -- 18.25 virtual bytes -- of signatures you save! And if you decide that your current setup with 1-of-1 P2PKH / P2WPKH addresses is just fine as-is: well, that's the whole point of a softfork: backwards-compatibility; you can receive from Taproot users just fine, and once your wallet is updated for Taproot-sending support, you can send to Taproot users just fine as well! (P2WPKH and P2WSH -- SegWit v0 -- addresses start with bc1q; Taproot -- SegWit v1 --- addresses start with bc1p, in case you wanted to know the difference; in bech32 q is 0, p is 1) Now how about HODLers who keep all, or some, of their coins on custodial services? Well, any custodial service worth its salt would be doing at least 2-of-3, or probably something even bigger, like 11-of-15. So your custodial service, if it switched to using Taproot internally, could save a lot more (imagine an 11-of-15 getting reduced from 11 signatures to just 1!), which --- we can only hope! --- should translate to lower fees and better customer service from your custodial service! So I think we can say, very accurately, that the Bitcoin principle --- that YOU are in control of your money --- can only be helped by Taproot (if you are doing multisignature), and, because P2PKH and P2WPKH remain validly-usable addresses in a Taproot future, will not be harmed by Taproot. Its benefit to this principle might be small (it mostly only benefits multisignature users) but since it has no drawbacks with this (i.e. singlesig users can continue to use P2WPKH and P2PKH still) this is still a nice, tidy win! (even singlesig users get a minor benefit, in that multisig users will now reduce their blockchain space footprint, so that fees can be kept low for everybody; so for example even if you have your single set of private keys engraved on titanium plates sealed in an airtight box stored in a safe buried in a desert protected by angry nomads riding giant sandworms because you're the frickin' Kwisatz Haderach, you still gain some benefit from Taproot) And here's the important part: if P2PKH/P2WPKH is working perfectly fine with you and you decide to never use Taproot yourself, Taproot will not affect you detrimentally. First do no harm!
Taproot and Your Contracts
No one is an island, no one lives alone. Give and you shall receive. You know: by trading with other people, you can gain expertise in some obscure little necessity of the world (and greatly increase your productivity in that little field), and then trade the products of your expertise for necessities other people have created, all of you thereby gaining gains from trade. So, contracts, which are basically enforceable agreements that facilitate trading with people who you do not personally know and therefore might not trust. Let's start with a simple example. You want to buy some gewgaws from somebody. But you don't know them personally. The seller wants the money, you want their gewgaws, but because of the lack of trust (you don't know them!! what if they're scammers??) neither of you can benefit from gains from trade. However, suppose both of you know of some entity that both of you trust. That entity can act as a trusted escrow. The entity provides you security: this enables the trade, allowing both of you to get gains from trade. In Bitcoin-land, this can be implemented as a 2-of-3 multisignature. The three signatories in the multisgnature would be you, the gewgaw seller, and the escrow. You put the payment for the gewgaws into this 2-of-3 multisignature address. Now, suppose it turns out neither of you are scammers (whaaaat!). You receive the gewgaws just fine and you're willing to pay up for them. Then you and the gewgaw seller just sign a transaction --- you and the gewgaw seller are 2, sufficient to trigger the 2-of-3 --- that spends from the 2-of-3 address to a singlesig the gewgaw seller wants (or whatever address the gewgaw seller wants). But suppose some problem arises. The seller gave you gawgews instead of gewgaws. Or you decided to keep the gewgaws but not sign the transaction to release the funds to the seller. In either case, the escrow is notified, and if it can sign with you to refund the funds back to you (if the seller was a scammer) or it can sign with the seller to forward the funds to the seller (if you were a scammer). Taproot helps with this: like mentioned above, it allows multisignature setups to produce only one signature, reducing blockchain space usage, and thus making contracts --- which require multiple people, by definition, you don't make contracts with yourself --- is made cheaper (which we hope enables more of these setups to happen for more gains from trade for everyone, also, moon and lambos). (technology-wise, it's easier to make an n-of-n than a k-of-n, making a k-of-n would require a complex setup involving a long ritual with many communication rounds between the n participants, but an n-of-n can be done trivially with some moon math. You can, however, make what is effectively a 2-of-3 by using a three-branch SCRIPT: either 2-of-2 of you and seller, OR 2-of-2 of you and escrow, OR 2-of-2 of escrow and seller. Fortunately, Taproot adds a facility to embed a SCRIPT inside a public key, so you can have a 2-of-2 Taprooted address (between you and seller) with a SCRIPT branch that can instead be spent with 2-of-2 (you + escrow) OR 2-of-2 (seller + escrow), which implements the three-branched SCRIPT above. If neither of you are scammers (hopefully the common case) then you both sign using your keys and never have to contact the escrow, since you are just using the escrow public key without coordinating with them (because n-of-n is trivial but k-of-n requires setup with communication rounds), so in the "best case" where both of you are honest traders, you also get a privacy boost, in that the escrow never learns you have been trading on gewgaws, I mean ewww, gawgews are much better than gewgaws and therefore I now judge you for being a gewgaw enthusiast, you filthy gewgawer).
Taproot and Your Contracts, Part 2: Cryptographic Boogaloo
Now suppose you want to buy some data instead of things. For example, maybe you have some closed-source software in trial mode installed, and want to pay the developer for the full version. You want to pay for an activation code. This can be done, today, by using an HTLC. The developer tells you the hash of the activation code. You pay to an HTLC, paying out to the developer if it reveals the preimage (the activation code), or refunding the money back to you after a pre-agreed timeout. If the developer claims the funds, it has to reveal the preimage, which is the activation code, and you can now activate your software. If the developer does not claim the funds by the timeout, you get refunded. And you can do that, with HTLCs, today. Of course, HTLCs do have problems:
Privacy. Everyone scraping the Bitcoin blockchain can see any HTLCs, and preimages used to claim them.
This can be mitigated by using offchain techniques so HTLCs are never published onchain in the happy case. Lightning would probably in practice be the easiest way to do this offchain. Of course, there are practical limits to what you can pay on Lightning. If you are buying something expensive, then Lightning might not be practical. For example, the "software" you are activating is really the firmware of a car, and what you are buying is not the software really but the car itself (with the activation of the car firmware being equivalent to getting the car keys).
Even offchain techniques need an onchain escape hatch in case of unresponsiveness! This means that, if something bad happens during payment, the HTLC might end up being published onchain anyway, revealing the fact that some special contract occurred.
And an HTLC that is claimed with a preimage onchain will also publicly reveal the preimage onchain. If that preimage is really the activation key of a software than it can now be pirated. If that preimage is really the activation key for your newly-bought cryptographic car --- well, not your keys, not your car!
Trust requirement. You are trusting the developer that it gives you the hash of an actual valid activation key, without any way to validate that the activation key hidden by the hash is actually valid.
Fortunately, with Schnorr (which is enabled by Taproot), we can now use the Scriptless Script constuction by Andrew Poelstra. This Scriptless Script allows a new construction, the PTLC or Pointlocked Timelocked Contract. Instead of hashes and preimages, just replace "hash" with "point" and "preimage" with "scalar". Or as you might know them: "point" is really "public key" and "scalar" is really a "private key". What a PTLC does is that, given a particular public key, the pointlocked branch can be spent only if the spender reveals the private key of the given public key to you. Another nice thing with PTLCs is that they are deniable. What appears onchain is just a single 2-of-2 signature between you and the developemanufacturer. It's like a magic trick. This signature has no special watermarks, it's a perfectly normal signature (the pledge). However, from this signature, plus some datta given to you by the developemanufacturer (known as the adaptor signature) you can derive the private key of a particular public key you both agree on (the turn). Anyone scraping the blockchain will just see signatures that look just like every other signature, and as long as nobody manages to hack you and get a copy of the adaptor signature or the private key, they cannot get the private key behind the public key (point) that the pointlocked branch needs (the prestige). (Just to be clear, the public key you are getting the private key from, is distinct from the public key that the developemanufacturer will use for its funds. The activation key is different from the developer's onchain Bitcoin key, and it is the activation key whose private key you will be learning, not the developer's/manufacturer's onchain Bitcoin key). So:
Privacy: PTLCs are private even if done onchain. Nobody else can learn what the private key behind the public key is, except you who knows the adaptor signature that when combined with the complete onchain signature lets you know what the private key of the activation key is. Somebody scraping the blockchain will not learn the same information even if all PTLCs are done onchain!
Lightning is still useful for reducing onchain use, and will also get PTLCs soon after Taproot is activated, but even if something bad happens and a PTLC has to go onchain, it doesn't reveal anything!
Trust issues can be proven more easily with a public-private keypair than with a hash-preimage pair.
For example, the developer of the software you are buying could provide a signature signing a message saying "unlock access to the full version for 1 day". You can check if feeding this message and signature to the program will indeed unlock full-version access for 1 day. Then you can check if the signature is valid for the purported pubkey whose private key you will pay for. If so, you can now believe that getting the private key (by paying for it in a PTLC) would let you generate any number of "unlock access to the full version for 1 day" message+signatures, which is equivalent to getting full access to the software indefinitely.
For the car, the manufacturer can show that signing a message "start the engine" and feeding the signature to the car's fimrware will indeed start the engine, and maybe even let you have a small test drive. You can then check if the signature is valid for the purported pubkey whose privkey you will pay for. If so, you can now believe that gaining knowledge of the privkey will let you start the car engine at any time you want.
(pedantry: the signatures need to be unique else they could be replayed, this can be done with a challenge-response sequence for the car, where the car gathers entropy somehow (it's a car, it probably has a bunch of sensors nowadays so it can get entropy for free) and uses the gathered entropy to challenge you to sign a random number and only start if you are able to sign the random number; for the software, it could record previous signatures somewhere in the developer's cloud server and refuse to run if you try to replay a previously-seen signature.)
Taproot lets PTLCs exist onchain because they enable Schnorr, which is a requirement of PTLCs / Scriptless Script. (technology-wise, take note that Scriptless Script works only for the "pointlocked" branch of the contract; you need normal Script, or a pre-signed nLockTimed transaction, for the "timelocked" branch. Since Taproot can embed a script, you can have the Taproot pubkey be a 2-of-2 to implement the Scriptless Script "pointlocked" branch, then have a hidden script that lets you recover the funds with an OP_CHECKLOCKTIMEVERIFY after the timeout if the seller does not claim the funds.)
Now if you were really paying attention, you might have noticed this parenthetical:
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)
So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable?? Well, in theory yes. In practice, they probably are not. It's not that hashes can be broken by quantum computes --- they're still not. Instead, you have to look at how you spend from a P2WPKH/P2PKH pay-to-public-key-hash. When you spend from a P2PKH / P2WPKH, you have to reveal the public key. Then Bitcoin hashes it and checks if this matches with the public-key-hash, and only then actually validates the signature for that public key. So an unconfirmed transaction, floating in the mempools of nodes globally, will show, in plain sight for everyone to see, your public key. (public keys should be public, that's why they're called public keys, LOL) And if quantum computers are fast enough to be of concern, then they are probably fast enough that, in the several minutes to several hours from broadcast to confirmation, they have already cracked the public key that is openly broadcast with your transaction. The owner of the quantum computer can now replace your unconfirmed transaction with one that pays the funds to itself. Even if you did not opt-in RBF, miners are still incentivized to support RBF on RBF-disabled transactions. So the extra hash is not as significant a protection against quantum computers as you might think. Instead, the extra hash-and-compare needed is just extra validation effort. Further, if you have ever, in the past, spent from the address, then there exists already a transaction indelibly stored on the blockchain, openly displaying the public key from which quantum computers can derive the private key. So those are still vulnerable to quantum computers. For the most part, the cryptographers behind Taproot (and Bitcoin Core) are of the opinion that quantum computers capable of cracking Bitcoin pubkeys are unlikely to appear within a decade or two.
Current quantum computers can barely crack prime factorization problem for primes of 5 bits.
The 256-bit elliptic curve use by Bitcoin is, by my (possibly wrong) understanding, equivalent to 4096-bit primes, so you can see a pretty big gap between now (5 bit primes) and what is needed (4096 bit primes).
A lot of financial non-Bitcoin systems use the equivalent of 3072-bit primes or less, and are probably easier targets to crack than the equivalent-to-4096-bit-primes Bitcoin.
Quantum computers capable of cracking Bitcoin are still far off.
Pay-to-public-key-hash is not as protective as you might think.
We will probably see banks get cracked before Bitcoin, so the banking system is a useful canary-in-a-coal-mine to see whether we should panic about being quantum vulnerable.
For now, the homomorphic and linear properties of elliptic curve cryptography provide a lot of benefits --- particularly the linearity property is what enables Scriptless Script and simple multisignature (i.e. multisignatures that are just 1 signature onchain). So it might be a good idea to take advantage of them now while we are still fairly safe against quantum computers. It seems likely that quantum-safe signature schemes are nonlinear (thus losing these advantages).
If you are a singlesig HODL-only Bitcoin user, Taproot will not affect you positively or negatively. Importantly: Taproot does no harm!
If you use or intend to use multisig, Taproot will be a positive for you.
If you transact onchain regularly using typical P2PKH/P2WPKH addresses, you get a minor reduction in feerates since multisig users will likely switch to Taproot to get smaller tx sizes, freeing up blockspace for yours.
If you are using multiparticipant setups for special systems of trade, Taproot will be a positive for you.
Remember: Lightning channels are multipartiicpiant setups for special systems of lightning-fast offchain trades!
I Wanna Be The Taprooter!
So, do you want to help activate Taproot? Here's what you, mister sovereign Bitcoin HODLer, can do!
If you have developer experience especially in C, C++, or related languages
Review the Taproot code! There is one pull request in Bitcoin Core, and one in libsecp256k1. I deliberately am not putting links here, to avoid brigades of nontechnical but enthusiastic people leaving pointless reviews, but if you are qualified you know how to find them!
But I am not a cryptographeBitcoin Core contributomathematician/someone as awesome as Pieter Wuille
That's perfectly fine! The cryptographers have been over the code already and agree the math is right and the implementation is right. What is wanted is the dreary dreary dreary software engineering: are the comments comprehensive and understandable? no misspellings in the comments? variable names understandable? reasonable function naming convention? misleading coding style? off-by-one errors in loops? conditions not covered by tests? accidental mixups of variables with the same types? missing frees? read-before-init? better test coverage of suspicious-looking code? missing or mismatching header guards? portability issues? consistent coding style? you know, stuff any coder with a few years of experience in coding anything might be able to catch. With enough eyes all bugs are shallow!
If you are running a mining pool/mining operation/exchange/custodial service/SPV server
Be prepared to upgrade!
One of the typical issues with upgrading software is that subtle incompatibilities with your current custom programs tend to arise, disrupting operations and potentially losing income due to downtime. If so, consider moving to the two-node setup suggested by gmax, which is in the last section of my previous post. With this, you have an up-to-date "public" node and a fixed-version "private" node, with the public node protecting the private node from any invalid chainsplits or invalid transactions. Moving to this setup from a typical one-node setup should be smooth and should not disrupt operations (too much).
If you are running your own fullnode for fun or for your own wallet
Be prepared to upgrade! The more nodes validating the new rules (even if you are a non-mining node!), the safer every softfork will be!
If you are using an SPV wallet or custodial wallet/service (including hardware wallets using the software of the wallet provider)
Contact your wallet provider / SPV server and ask for a statement on whether they support Taproot, and whether they are prepared to upgrade for Taproot! Make it known to them that Taproot is something you want!
But I Hate Taproot!!
Raise your objections to Taproot now, or forever hold your peace! Maybe you can raise them here and some of the devs (probably nullc, he goes everywhere, even in rbtc!) might be able to see your objections! Or if your objections are very technical, head over to the appropriate pull request and object away!
Maybe you simply misunderstand something, and we can clarify it here!
Or maybe you do have a good objection, and we can make Taproot better by finding a solution for it!
Hello Fellow Redditors, I am going to list some of my income sources. I will try to give as much information as I can. Some details about me:I am u/abhiearns, I am currently studying. I want to create some sort of extra income sources. I have been trying to use beermoney as well as other passive income communities like passive_income, passiveincome to find some sites and sources that can work for me. Enough with the details, Let start by listing some of my extra income sources. Active Earning: So, I will start with sites on which you have to work actively and devote some serious hours to earn some extra income. These are some beermoney sites (include survey sites, and other such sites):
QuickThoughts: This is one of my favorite survey site and I highly recommend it. It is one of the high paying survey sites. Each survey is between 5-30 min. You can earn 0.4 - 2 dollars from every survey. Usually they have $2 surveys. They have a maximum daily cap of $10. They are available for Android and IOS users, they are not available on web as of now.
Payment Type: Amazon GC for Android and iTunes GC for IOS
Minimum Payment: $10
Qmee: This is also one of the good sites but over the years the earning potential has decreased. You can do surveys as well as they have an extensions which lets you earn while surfing search engines (Google and Bing). The surveys range between 2-30 mins and you can earn 0.1 - 2 dollars for each survey. The extensions lets you earn 0.01 - 0.1 dollars through suggestions but it is really infrequent. Best thing I like about them is that they don't have any minimum payment. It also lets you earn using Referrals of $1.
Platform: Android, IOS and Website
Type: Survey Site, Search Engine Suggestions
Payment Type: Paypal, Other GC's
Minimum Payment: No minimum payment
Referral Links: Full $1 to you (Link) | We both get $0.5 (Link) | Full $1 to me (Link)
SwagBucks: This is one of the most famous site for earning some extra income. This site have surveys, videos, offers, search. Honestly I use this site only to earn for offers because, there surveys are less paying and really time consuming. The earning potential depends on how much time you devote and what type of offers you get. It has a referral link and lets you earn 300 SB ($3) for each user you invite.
Platform: Android, IOS and Website
Type: Survey Site, Offers, Videos
Payment Type: Paypal, Other GC's
Minimum Payment: $25 for Paypal, $3 for Amazon, and variable for other GC's
Passive Earning (No Initial Investments): These will list some of my passive earning sources, I am not listing my investments here because I think they deserve a separate section.Disclaimer: I have 2 laptops and an extra phone so I use all of them for earning, the payments may vary depending on the number and power of various computers.
HoneyGain: This is one of the software in which you can earn selling your internet bandwidth. They sell the bandwidth to various business. It is one the best site to earn passively. You can earn $20 in a month but it depends on the network. Best thing is that it is totally passive you just have to start the app. They have referral link through which you can earn 10% of the earnings of the user you invite and the user you invite gets $5.
CryptoTap (CryptoBrowser): This browser lets you earn bitcoins while surfing. The browser is just like chrome and it lets you mine bitcoins. The best part about this is there referral program which lets you earn up to level 10. You can look at their referral program in more details on there sites. The earning depends on your CPU or GPU power.
Cocoon Browser: This browser lets you earn passively selling your data. You just have to do what you do and this browser collect the information and sells it. The earnings depends on you usage. As of now they are not available on Mobile Platforms. They do have a referral program and you can earn $3 by inviting a user.
MinerGate: This is a site and software combination which provides you with mining software and pools. You just have to install the software and run mining. You can also use there mining pool if you want to use some other software. If you do start using this, I recommend mining Monero (XMR). They also have a referral program.
CashMagnet: This is an Android based app which lets you earn automatically. You just have to download some games from this app and run this and it will automatically run the apps. They also have a referral program.
Credit Card Cash backs: Yes, you can earn some kind of money using cashbacks from various credit card companies. Companies like Bank of America and Discover give there users 1-5% cash back on every purchase. Bank of America gives 1-3% cash back. Discover you can get up to 5% cashback. If you are a student I highly recommend using Discover Student Credit Card, you can get up to $50 just applying for it using this link.
Type: Credit Card Cash Back
Betterment (Robo Advisor): Betterment is one of the best robo advisor out there. If you just starting out and have no idea about investing, you can give this a show. They have different type of goals like retirement, general investing and other which help you to manage your money according to your own requirement. They charge 0.25% fees, but you get 1 year free when you create your account 1st time.
Acrons (Robo Advisor): Acrons is also a robo advisor but it is little different from betterment. Acorns lets you invest money by rounding your purchases like if you spend $5.75 at McDonalds it will invest $0.25 from your account. I know its really little and it adds up really fast and you won't feel much change in your lifestyle. It also gives you some cashback for purchases at certain vendors.
\** I am still trying other sites and apps. I will keep updating this post.* These are some of the sources I use to earn, I highly recommend these. I won't say you will become a millionaire using these but still its little more than you had yesterday.
Ok, A little backround. I know hardware and networking. I can build just about any config of a computer. I understand overclocking and undervolting. I can invest around 2,700 for initial investment. So do I buy hardware to build a GPU miner with at least 6 cards or more? Probably RX580 as they are cheap and I have one in my rig. More on that later. Or do I a Asic miner like this I understand a GPU miner is multiple coins and not Bitcoin, and Asic is nothing but Bitcoin. I've done the math on the Asic miner and the ROI in about 3 months with a net gain of about ~10,000 USD a year @ .13 cents per Watt. I've had a hard time finding a solid or semi way of calculating the earnings for a GPU miner. Not only because it is many coins or dedicated to one coin, but there our other variables involved. However I have more control of the hardware if it fails. I dipped my toe into mining with my own rig that has a RX580 fatboy and a AMD Phenom ii x4 955 black edition. I overclocked the GPU and undervolted the CPU to reduce heat since it was hitting 62 cel. The GPU gets 12.5 sol/s and the CPU was getting ~322 h/s. All this added up to ~170 watts and a net of .00218322 BTC/Month. This was all done using Cudo as it was easy to find and setup just to test. This was just a test to see how it would work. I wouldn't use Cudo to full scale as it is a pool and the transfer to a Wallet is pretty steep in relationship to earns. I understand that in a pool you get your share based upon how much of the "work" you did to get find block. So do I build or buy? With that much computation power do I need to join a pool? What software is best for pool or alone? I am comfortable with CLI as long as it's well documented, but would like a remote GUI. Also what is the best wallet with the best fees for transactions. Currently using uphold since I use Brave. I think I covered as much as I could, if you have any questions let me know. Any advice would be great. If I should post this else where let me know please or I could just cross post it. TIA. Be safe, stay safe! Edit: Words and BTC earning was WAY off then I first typed this.
Dragonchain Great Reddit Scaling Bake-Off Public Proposal
Dragonchain Public Proposal TL;DR:
Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and postsper Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625. Watch Joe walk through the entire proposal and answer questions onYouTube. This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!
I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale. For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube. We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoC
In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks. 24 hours in 4 minutes (YouTube): 24 hours in 4 minutes The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period. Tooling to reproduce our demo is available here: https://github.com/dragonchain/spirit-bomb
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired. Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity. TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block. TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain. With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times. We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment. Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in Scaling
Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems. We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
LBRY - To allow users to deploy content natively to LBRY
MakerDAO to allow users to lend small amounts backed by their Reddit community points.
STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction. Dragonchain Fees Table
How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node. Getting started is easy...
Download Dragonchain’s dctl
Input three commands into a terminal
Build an image
More information can be found in our Get started documents.
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain. Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain. After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks. Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD. For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments. Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users. Over a 5 day period, your scaling PoC should be able to handle: *100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes. Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum. Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
Operational on-premises capabilities
Operational deployment to any datacenter
Over 700 independent Community Verification Nodes with proof of ownership
Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node. Examples:
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users. All of Reddit's Transactions on Blockchain (month) Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees. Reddit Internal Token Transaction Fees Reddit Ethereum Token Transaction Fees When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
In a combination of the above, customers could cover aggregated fees.
Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.
Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here. Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here. In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here. A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible APIs should be well documented and stable
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected. Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR. Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus points Public, third-party implementation review available or in progress
Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).
Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open Source
The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group. https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html
In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney. Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
Obtain VP support and approval for the release
Verify ownership of the software to be released
Verify that no proprietary content would be released
Convince the organization that there was a value to the open source community
Convince the organization that there was a value to Disney
Offer the plan for ongoing maintenance of the project outside of Disney
Itemize competing projects
Verify no conflict of interest
Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
Obtain legal approval
Approval from corporate, parks, and other business units
Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
Trademark searches conducted for the selected name Dragonchain
Obtain IT security approval
Manual review of OSS components conducted
OWASP Dependency and Vulnerability Check Conducted
Obtain technical (software) approval
Offer management, process, and financial plans for the maintenance of the project.
Meet list of items to be addressed before release
Remove all Disney project references and scripts
Create a public distribution list for email communications
Remove Roets’ direct and internal contact information
Create public Slack channel and move from Disney slack channels
Create proper labels for issue tracking
Rename internal private Github repository
Add informative description to Github page
Expand README.md with more specific information
Add information beyond current “Blockchains are Magic”
Add getting started sections and info on cloning/forking the project
Add installation details
Add uninstall process
Add unit, functional, and integration test information
Detail how to contribute and get involved
Describe the git workflow that the project will use
Move to public, non-Disney git repository (Github or Bitbucket)
Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney. The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release. Original OSSRELASE-10 document
Don't blindly follow a narrative, its bad for you and its bad for crypto in general
I mostly lurk around here but I see a pattern repeating over and over again here and in multiple communities so I have to post. I'm just posting this here because I appreciate the fact that this sub is a place of free speech and maybe something productive can come out from this post, while bitcoin is just fucking censorship, memes and moon/lambo posts. If you don't agree, write in the comments why, instead of downvoting. You don't have to upvote either, but when you downvote you are killing the opportunity to have discussion. If you downvote or comment that I'm wrong without providing any counterpoints you are no better than the BTC maxis you despise. In various communities I see a narrative being used to bring people in and making them follow something without thinking for themselves. In crypto I see this mostly in BTC vs BCH tribalistic arguments: - BTC community: "Everything that is not BTC is shitcoin." or more recently as stated by adam on twitter, "Everything that is not BTC is a ponzi scheme, even ETH.", "what is ETH supply?", and even that they are doing this for "altruistic" reasons, to "protect" the newcomers. Very convenient for them that they are protecting the newcomers by having them buy their bags - BCH community: "BTC maxis are dumb", "just increase block size and you will have truly p2p electronic cash", "It is just that simple, there are no trade offs", "if you don't agree with me you are a BTC maxi", "BCH is satoshi's vision for p2p electronic cash" It is not exclusive to crypto but also politics, and you see this over and over again on twitter and on reddit. My point is, that narratives are created so people don't have to think, they just choose a narrative that is easy to follow and makes sense for them, and stick with it. And people keep repeating these narratives to bring other people in, maybe by ignorance, because they truly believe it without questioning, or maybe by self interest, because they want to shill you their bags. Because this is BCH community, and because bitcoin is censored, so I can't post there about the problems in the BTC narrative (some of which are IMO correctly identified by BCH community), I will stick with the narrative I see in the BCH community. The culprit of this post was firstly this post by user u/scotty321"The BTC Paradox: “A 1 MB blocksize enables poor people to run their own node!” “Okay, then what?” “Poor people won’t be able to use the network!”". You will see many posts of this kind being made by u/Egon_1 also. Then you have also this comment in that thread by u/fuck_____________1 saying that people that want to run their own nodes are retarded and that there is no reason to want to do that. "Just trust block explorer websites". And the post and comment were highly upvoted. Really? You really think that there is no problem in having just a few nodes on the network? And that the only thing that secures the network are miners? As stated by user u/co1nsurf3r in that thread:
While I don't think that everybody needs to run a node, a full node does publish blocks it considers valid to other nodes. This does not amount to much if you only consider a single node in the network, but many "honest" full nodes in the network will reduce the probability of a valid block being withheld from the network by a collusion of "hostile" node operators.
But surely this will not get attention here, and will be downvoted by those people that promote the narrative that there is no trade off in increasing the blocksize and the people that don't see it are retarded or are btc maxis. The only narrative I stick to and have been for many years now is that cryptocurrency takes power from the government and gives power to the individual, so you are not restricted to your economy as you can participate in the global economy. There is also the narrative of banking the bankless, which I hope will come true, but it is not a use case we are seeing right now. Some people would argue that removing power from gov's is a bad thing, but you can't deny the fact that gov's can't control crypto (at least we would want them not to). But, if you really want the individuals to remain in control of their money and transact with anyone in the world, the network needs to be very resistant to any kind of attacks. How can you have p2p electronic cash if your network just has a handful couple of nodes and the chinese gov can locate them and just block communication to them? I'm not saying that this is BCH case, I'm just refuting the fact that there is no value in running your own node. If you are relying on block explorers, the gov can just block the communication to the block explorer websites. Then what? Who will you trust to get chain information? The nodes needs to be decentralized so if you take one node down, many more can appear so it is hard to censor and you don't have few points of failure. Right now BTC is focusing on that use case of being difficult to censor. But with that comes the problem that is very expensive to transact on the network, which breaks the purpose of anyone being able to participate. Obviously I do think that is also a major problem, and lightning network is awful right now and probably still years away of being usable, if it ever will. The best solution is up for debate, but thinking that you just have to increase the blocksize and there is no trade off is just naive or misleading. BCH is doing a good thing in trying to come with a solution that is inclusive and promotes cheap and fast transactions, but also don't forget centralization is a major concern and nothing to just shrug off. Saying that "a 1 MB blocksize enables poor people to run their own" and that because of that "Poor people won’t be able to use the network" is a misrepresentation designed to promote a narrative. Because 1MB is not to allow "poor" people to run their node, it is to facilitate as many people to run a node to promote decentralization and avoid censorship. Also an elephant in the room that you will not see being discussed in either BTC or BCH communities is that mining pools are heavily centralized. And I'm not talking about miners being mostly in china, but also that big pools control a lot of hashing power both in BTC and BCH, and that is terrible for the purpose of crypto. Other projects are trying to solve that. Will they be successful? I don't know, I hope so, because I don't buy into any narrative. There are many challenges and I want to see crypto succeed as a whole. As always guys, DYOR and always question if you are not blindly following a narrative. I'm sure I will be called BTC maxi but maybe some people will find value in this. Don't trust guys that are always posting silly "gocha's" against the other "tribe". EDIT: User u/ShadowOfHarbringer has pointed me to some threads that this has been discussed in the past and I will just put my take on them here for visibility, as I will be using this thread as a reference in future discussions I engage:
When there was only 2 nodes in the network, adding a third node increased redundancy and resiliency of the network as a whole in a significant way. When there is thousands of nodes in the network, adding yet another node only marginally increase the redundancy and resiliency of the network. So the question then becomes a matter of personal judgement of how much that added redundancy and resiliency is worth. For the absolutist, it is absolutely worth it and everyone on this planet should do their part.
What is the magical number of nodes that makes it counterproductive to add new nodes? Did he do any math? Does BCH achieve this holy grail safe number of nodes? Guess what, nobody knows at what number of nodes is starts to be marginally irrelevant to add new nodes. Even BTC today could still not have enough nodes to be safe. If you can't know for sure that you are safe, it is better to try to be safer than sorry. Thousands of nodes is still not enough, as I said, it is much cheaper to run a full node as it is to mine. If it costs millions in hash power to do a 51% attack on the block generation it means nothing if it costs less than $10k to run more nodes than there are in total in the network and cause havoc and slowing people from using the network. Or using bot farms to DDoS the 1000s of nodes in the network. Not all attacks are monetarily motivated. When you have governments with billions of dollars at their disposal and something that could threat their power they could do anything they could to stop people from using it, and the cheapest it is to do so the better
You should run a full node if you're a big business with e.g. >$100k/month in volume, or if you run a service that requires high fraud resistance and validation certainty for payments sent your way (e.g. an exchange). For most other users of Bitcoin, there's no good reason to run a full node unless you reel like it.
Shouldn't individuals benefit from fraud resistance too? Why just businesses?
Personally, I think it's a good idea to make sure that people can easily run a full node because they feel like it, and that it's desirable to keep full node resource requirements reasonable for an enthusiast/hobbyist whenever possible. This might seem to be at odds with the concept of making a worldwide digital cash system in which all transactions are validated by everybody, but after having done the math and some of the code myself, I believe that we should be able to have our cake and eat it too.
This is recurrent argument, but also no math provided, "just trust me I did the math"
The biggest reason individuals may want to run their own node is to increase their privacy. SPV wallets rely on others (nodes or ElectronX servers) who may learn their addresses.
It is a reason and valid one but not the biggest reason
If you do it for fun and experimental it good. If you do it for extra privacy it's ok. If you do it to help the network don't. You are just slowing down miners and exchanges.
Yes it will slow down the network, but that shows how people just don't get the the trade off they are doing
I will just copy/paste what Satoshi Nakamoto said in his own words. "The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server."
Another "it is all or nothing argument" and quoting satoshi to try and prove their point. Just because every user doesn't need to be also a full node doesn't mean that there aren't serious risks for having few nodes
For this to have any importance in practice, all of the miners, all of the exchanges, all of the explorers and all of the economic nodes should go rogue all at once. Collude to change consensus. If you have a node you can detect this. It doesn't do much, because such a scenario is impossible in practice.
Not true because as I said, you can DDoS the current nodes or run more malicious nodes than that there currently are, because is cheap to do so
Non-mining nodes don't contribute to adding data to the blockchain ledger, but they do play a part in propagating transactions that aren't yet in blocks (the mempool). Bitcoin client implementations can have different validations for transactions they see outside of blocks and transactions they see inside of blocks; this allows for "soft forks" to add new types of transactions without completely breaking older clients (while a transaction is in the mempool, a node receiving a transaction that's a new/unknown type could drop it as not a valid transaction (not propagate it to its peers), but if that same transaction ends up in a block and that node receives the block, they accept the block (and the transaction in it) as valid (and therefore don't get left behind on the blockchain and become a fork). The participation in the mempool is a sort of "herd immunity" protection for the network, and it was a key talking point for the "User Activated Soft Fork" (UASF) around the time the Segregated Witness feature was trying to be added in. If a certain percentage of nodes updated their software to not propagate certain types of transactions (or not communicate with certain types of nodes), then they can control what gets into a block (someone wanting to get that sort of transaction into a block would need to communicate directly to a mining node, or communicate only through nodes that weren't blocking that sort of transaction) if a certain threshold of nodes adheres to those same validation rules. It's less specific than the influence on the blockchain data that mining nodes have, but it's definitely not nothing.
The first reasonable comment in that thread but is deep down there with only 1 upvote
The addition of non-mining nodes does not add to the efficiency of the network, but actually takes away from it because of the latency issue.
That is true and is actually a trade off you are making, sacrificing security to have scalability
The addition of non-mining nodes has little to no effect on security, since you only need to destroy mining ones to take down the network
It is true that if you destroy mining nodes you take down the network from producing new blocks (temporarily), even if you have a lot of non mining nodes. But, it still better than if you take down the mining nodes who are also the only full nodes. If the miners are not the only full nodes, at least you still have full nodes with the blockchain data so new miners can download it and join. If all the miners are also the full nodes and you take them down, where will you get all the past blockchain data to start mining again? Just pray that the miners that were taken down come back online at some point in the future?
The real limiting factor is ISP's: Imagine a situation where one service provider defrauds 4000 different nodes. Did the excessive amount of nodes help at all, when they have all been defrauded by the same service provider? If there are only 30 ISP's in the world, how many nodes do we REALLY need?
You cant defraud if the connection is encrypted. Use TOR for example, it is hard for ISP's to know what you are doing.
Satoshi specifically said in the white paper that after a certain point, number of nodes needed plateaus, meaning after a certain point, adding more nodes is actually counterintuitive, which we also demonstrated. (the latency issue). So, we have adequately demonstrated why running non-mining nodes does not add additional value or security to the network.
Again, what is the number of nodes that makes it counterproductive? Did he do any math?
There's also the matter of economically significant nodes and the role they play in consensus. Sure, nobody cares about your average joe's "full node" where he is "keeping his own ledger to keep the miners honest", as it has no significance to the economy and the miners couldn't give a damn about it. However, if say some major exchanges got together to protest a miner activated fork, they would have some protest power against that fork because many people use their service. Of course, there still needs to be miners running on said "protest fork" to keep the chain running, but miners do follow the money and if they got caught mining a fork that none of the major exchanges were trading, they could be coaxed over to said "protest fork".
In consensus, what matters about nodes is only the number, economical power of the node doesn't mean nothing, the protocol doesn't see the net worth of the individual or organization running that node.
Running a full node that is not mining and not involved is spending or receiving payments is of very little use. It helps to make sure network traffic is broadcast, and is another copy of the blockchain, but that is all (and is probably not needed in a healthy coin with many other nodes)
He gets it right (broadcasting transaction and keeping a copy of the blockchain) but he dismisses the importance of it
What is a Bitcoin Mining Pool? If you already read our guide on Bitcoin mining, you know that new Bitcoins enter the circulation as a “prize” for a miner who manages to guess the solution to a mathematical problem.The winning miner get to add the latest block to the blockchain and update the ledger.. By design, the more miners you have, the more difficult the problem gets, and vice versa. The first offline Bitcoin wallet and the first Bitcoin-centric world map was created by Satoshi Labs in addition to the mining stratum protocol which is being used by the other mining pools. Slush Pool stands unique for using Score based method, where the old shares are given lesser prominence than news shares at the start of the round. When it’s time to choose a Bitcoin Private mining pool, there are several aspects you need to know and understand. The best way to choose one, no matter if you are a novice or a pro, is to look at the market share. That figure is an indicator of how much hashing power is available. The higher the amount, the more efficient a pool is. To start mining in the pool, a person should select one, join it and ask for an assignment. To be able to do that, it is necessary to create a wallet to get payments and obtain BitCoin mining software. Every work performed is paid, but miners usually get cryptocurrency for it instead of blocks or their pieces. Despite recent controversy, Antpool remains the largest Bitcoin mining pool in terms of its Bitcoin network hash rate. Antpool holds roughly 15% of the total hash rate of all Bitcoin mining pools. About Antpool. Antpool mined its first block in March 2014, meaning that it emerged roughly four years after the first mining pool; Slushpool.
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