[Qt] simple fee bumper with user verification by ...
Bitcoin Core version 0.15.0.1 released
Transaction fees - Litecoin Wiki
Gridcoin 184.108.40.206-Mandatory "Fern" Release
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)
Syscoin Platform’s Great Reddit Scaling Bake-off Proposal
https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44 We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution! Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality. Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining. This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.
Syscoin + Matic Integration
Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both. Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Total cost for these 100k transactions: $0.63 USD See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing: ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37) Syscoin price: $0.11 Snapshot of live fee comparison chart Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions. Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms. The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
Unique fee-market that is more efficient for microtransaction redemption and settlement
Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
Provides high throughput and secure fulfillment even if blocks are full
Probabilistic and interactive
99.9999% security assurance within 10 seconds
Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin 3.0 White Paper (4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
SHA256 merge mined with Bitcoin
UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
Z-DAG on asset layer, bridge to Ethereum on asset layer
On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.
Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask. Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2. Current supported wallets Syscoin Spark Desktop Syscoin-Qt
Bitcoin is a decentralized system, any user of which could control the movement of their own funds. You can use the currency to make transactions, pay for purchases, receive transfers, and exchange it for cash. For transactions, a special address is used, encrypted with a 16-character key. The buyer decodes the code to transfer bitcoins to the specified address.
Mining is a process that ensures the security of the BTC system, which adds new blocks to the blockchain in chronological order (new transactions). Blocks are added when the codes are decrypted, the transaction is completed, and bitcoins are transferred or exchanged. The main cryptocurrency is generated by miners using software that solves cryptographic problems. The reward for a new block is agreed by all network participants, but usually amounts to 12.5 bitcoins. Part of the user fees for transactions also goes to reward the miners. Cryptographic tasks become more complex every year to prevent inflation (mining complexity).
Features of the transaction
Anonymity. The address that Bitcoin is sent to consists of 30 characters. You can track the flow of transactions, but the address is not always associated with a real person.
Security. The balance of bitcoins is fixed in a cryptographic system with a public key. Only the owner of a private key can send cryptocurrency to other addresses.
Unable to cancel. It is no longer possible to cancel the transaction after the transaction has been completed.
Deregulation. Everyone can use cryptocurrency.
Coverage and speed. Information about the transaction is transmitted incredibly quickly, and confirmation is received within a few minutes. No one knows the buyer’s physical location.
Where to buy Bitcoin?
There are Deposit systems that use crypto-exchanges. So, to buy Bitcoin, you will first need to top up your balance, buy the digital currency itself, and then withdraw it to your Bitcoin wallet, paying a Commission for withdrawing coins. The cheapest method of buying is buying on the stock exchange. The exchange rate is as close as possible to the market rate.
The current exchange rate of the coin is calculated based on the average price on the largest currency exchanges. For example, you can track the exchange rate on our Bitniex exchange. The Bitcoin exchange rate is constantly changing, during the day it can change by 10% in one direction or another.
The choice of crypto-currency wallet
A cryptocurrency wallet is a place where digital currency will be stored. The most secure method of storage is using paper or electronic wallets.
TOP secure cryptocurrency wallets
These wallets are one of the most secure crypto wallets in the world:
Because cold wallets, such as those stored offline in a text file as I keep recommending in my standard advice below: All you need is a text file to put your wallets in, like this example from https://walletgenerator.net/?currency=Dogecoin 1,"D7WBUpdgLRtG6WyPsqjhaKiJR65X8ZGnkZ","6KieLMW1poAzNVnmLuQZqA262gxEQ51eLGdDK8e2GL2B4LHCKKb"2,"DM8LT16d49zHr8ByXbUwZb9UBXDGMaZRdc","6Ktgxdv6vN9v2bDHwcJBBb3oMRAgXJumESzBnxaXUSGFZoq6pWQ"3,"D5UCa51AfxjtVHQ46oYXe2YfkctTeLXPhx","6L2WSPWadRYCwt2L1CxH6zC7PoTYY3KyjxdiUoCqi5eyq6hQKvj" Use https://coinb.in/#settings to move coins. Download both sites and run them offline. Use https://bitinfocharts.com/dogecoin/ to check balances and transactions. See http://www.mocacinno.com/blog/create-sign-broadcast-transactions-using-coinb/ for coinb.in tutorial. And read the ELI5s (and my history) for more info. Are without doubt THE SAFEST way to store your coins. Plus, they consume no resources. No bandwidth, no network stress for every node we have, no storage of 20Gb+ blockchains, no weeks of waiting for things to sync, no tearing your hair out and posting desperate pleas for help, and most importantly, no coins irretrievably lost because you or your client screwed up.
Wallets, ALL WALLETS are nothing but numbers. Very large numbers, but fundamentally no different from “7”, “42”, “911” or a phone number. They cannot be created nor destroyed, and you either know them or you don’t. Anyone who knows a key can use it to spend any coins it controls. Anyone who doesn’t know it, can’t. Don’t be the guy who doesn’t know his own keys. Keep them safe. Make copies. Keep those safe. Don’t let your friends, kid brother or random burglar find them, but don’t lose them either. The only other thing you need for a fully functional wallet is a way to spend coins. Coinb.in is such a way. There are others, such as DogeCoinMultiSig.org which tomcarbon built. Oh, and you can and should download it and run it locally.
The default entry point for coinb.in is https://coinb.in/#settings because this settings page is very well hidden. Its in the tiny gear wheel on the Broadcast page. Looking across the top of the page, you can see
We’re only going to use three of these. New, Sign, Broadcast. Now, keep in mind that coinb.in is an old Bitcoin tool which tomcarbon added Dogecoin to. Sometimes it thinks its dealing with Bitcoin still, so if you see anything odd, go and make sure you’ve selected Dogecoin in the Settings page.
This tool should be the only place you spend coins. Sure, some clients may look more convenient, but they all suffer from a very big coin-losing flaw. Whenever you split a UTXO, they create a new wallet to send the change to. And they DON’T TELL YOU! This means unless you back up after every transaction, you run a high risk of finding all your coins have ‘disappeared’ from your wallet, and you don’t recognise where they went. So if you use a client for the convenience as well as a text list of your wallets, you won’t know to add a new wallet to your masterfile. Its best to ditch the clients entirely.
Now we come to the nitty-gritty. Lets use those three wallets above and assume that #1 is the source, #2 the destination and #3 the change wallet. Note that these won’t actually work, as none of them have ever been used, but they will do as examples. New Transaction Located at the bottom of the New menu, this will give you a page to enter your wallets and amounts. In the top field, you enter your source address or Key. If you use the key, it will calculate the address when you click the Load button, which should match what you expected. Note that Load only brings in the first 100 UTXOs. This is so that you can retrieve coins from high-volume wallets which would kill any client. Coinb.in is in fact the ONLY WAY to do this, as even QT falls over around 600 UTXOs. You will see the total balance that was loaded in the Transaction Fee field. And also in the Inputs tab, where you can go to adjust which UTXOs to spend. Now you need to add the wallet(s) and amounts to send to them. Lets suppose the source contained a single UTXO for 1,000 Doge. You want to send 500 of them. So you would enter the #2 address in the Address field, and 500 in the Amount field. The Fee now changes to 500, which is not what you want. So you click the + button to bring up a new line, enter the change address and the other 500, making the fee zero. And you’re done. Check that the Fee is indeed zero. Check that the amounts shown in the Outputs and Inputs tabs match exactly.
THIS IS CRITICAL!
There is a bug which will send all the coins to the miners if the Outputs exceed the Inputs. I would have expected the Fee to show as negative in such a situation, but it doesn’t. BE WARNED! Once everything looks right, hit the Submit button. This will give you a block of hex code. Copy it. Sign Go to the Sign tab and paste it. Add your private key for the source wallet and click Submit. Note this can be done offline for safety. This will give you another block of hex, the SIGNED transaction. Broadcast Copy this and paste it in the Broadcast tab and click Submit. That’s it. Your coins are on their way. Make a cuppa and settle in while they arrive in a minute or three. Note: All fields retain their values unless you refresh the page! This can be a boon when doing multiple transactions, such as when emptying a huge wallet. But it can also be a trap for the unsuspecting. Refresh or close the window when you’re done.
Who should use this? Absolutely EVERYONE! Even if you’re wedded to your client in some satanic blood-contract, you should still know how this works, because sooner or later you’re going to have a problem you can’t fix without it. Definitely download the site and store it on every device you have. On every USB backup of your wallets. On your phone (well, except iOS which doesn’t do local HTML), etc, etc, etc. Oh, and if you’re a programmer SmartyShibe, do consider improving the code over on GitHub. EDIT:https://github.com/OutCast3k/coinbin added courtesy of AtomHearth
Another Quarter, Another Release! The Groestlcoin production factory has been working overtime as always in order to deliver even more tech to push Groestlcoin mainstream when the time comes. There have been many new fantastic wallets and exchanges added to Groestlcoins repertoire over the past 3 months so we will re-cap these before moving on to what is new today.
Groestlcoin added to SatWallet – A 3-in-1 service. Multicurrency wallet, exchange and soon a debit card!
ChangeHero announced a week of 0% commission for Groestlcoin trades.
Added to BC Bitcoin cryptocurrency exchange, offering 8 fiat pairs!
Added to Chameleon Pay mobile wallet for Android and iOS!
Added to the Okex' strategic partners cryptocurrency exchange; CoinAll! Offering BTC and ETH pairs! With a 21,5000 GRS Giveaway!
Added to Spark Card! Our second MasterCard for Groestlcoin! Provided by Pungoio, powered by TarjetaSpark and issued by Mastercard!
Added to Swirlpay! A decentralised peer-to-peer payment gateway.
Added to Archos Safe-T Mini hardware wallet! Built around encrypted Chipset memory.
Added to Agama Wallet – A multi-asset encrypted wallet for iOS, Android, Windows, Mac OS and Linux from Komodo.
Added to Mr Coin exchange, with 2 fiat pairs (EUR and HUF)
Added to CryptoFacil Exchange – An exchange powered by Bittrex and is a fiat gateway. Leaving you with the ability to buy GRS with Visa and Mastercard.
Added to Bits Game – A gambling service with 2 'PvP' games
Added to Boost X Change Cryptocurrency exchange!
Added to Sucon's Suworld Korean cryptocurrency exchange!
Added to DCXinsta cryptocurrency exchange and swap service with Fiat pairings.
Added to DCXtrade, an Indian cryptocurrency exchange with BTC and ETH pairings.
Added a fiat KRW pairing on Huobi Korea Cryptocurrency Exchange!
Added to AirGap wallet, allowing you to securely store your GRS on an offline device.
Added as a payment method on hodlhodl, allowing you to make global trades without KYC/AML.
Added to TrustWallet cryptocurrency wallet for iOS and Android
The existing Magnum wallet adds SegWit support for the wallet! Allowing SegWit addresses to be used and created from within the wallet.
Added to CycleBit – Who provide POS Terminals that accept GRS payments anywhere, in-store and online. 130 coffee houses in Spain already accept GRS using Cyclebit POS terminals!
Added to Bitinka Cryptocurrency exchange! The #1 exchange in Latin America with 5 fiat and cryptocurrency pairs!
Added to Atomic wallet, a non-custodial cryptocurrency wallet with encrypted private keys and 40,000 monthly users.
Added to NoMiddleMan cryptocurrency payment gateway, offering no usernames, no registration, no KYC, no fees. Completely free to use!
Added to Blockchair! An advanced data analysis tool, mempool monitor and block explorer!
Added to SecuX V20, SecuX W20 and SecuX W10 hardware wallets!
Re-forged: Groestlcoin Samourai
Groestlcoin Samourai is a wallet for the streets. A modern Groestlcoin wallet hand-forged to keep your transactions private, your identity masked, and your funds secure. Its main advantages are its extreme portability and is the most secure Groestlcoin mobile HD wallet. We've built a wallet that Groestlcoin deserves. If you are looking for a wallet that Silicon Valley will never build, the regulators will never allow, and the VC's will never invest in, this is the perfect wallet for you. ![Groestlcoin Samourai Release Video](http://img.youtube.com/vi/i3WU8Tde8XQ/0.jpg)
Head over to the Groestlcoin Samourai Release Page here for the full release announcement.
Groestlimage turns any file into a mnemonic phrase allowing users to generate Groestlcoin private keys and addresses based on the data URI of the provided file. A picture is worth a thousand Groestls.
Turn any image, document or audio file into a BIP39 mnemonic phrase
Groestlcoin Core Config Generator is a simple GUI to configure the groestlcoin.conf file – A developers dream tool! Each configuration option is available via the user interface, grouped by what attributes they affect. For ease of getting started with a new configuration, a variety of preset "node classes" are available on the right-hand-side of the screen. Selecting a preset will load our recommended base configuration for a node fitting that description, at which point you can then tune the configuration at the single option level.
Choose between Mining, Non-Standard Ports, Low Bandwidth, Pruned, Raspberry Pi, Tor, Testnet, Regtest, Non-Syncing and Lightning Éclair presets.
Groestlcoin Simple Push TX is a server to push Groestlcoin transactions via SMS. Now everybody can send new transactions via SMS if the Internet is not usable (i.e. blocked by government entities or becomes otherwise unavailable).
Ability to push either Base64 or Hex-Encoded Raw Transactions via SMS.
Send SMS transactions to PushTX through the number +32460224477 (+32460224GRS)
Electrum-GRS is Groestlcoins #1 thin-client for Windows, MacOS, Linux and Android, based on a client-server protocol. Supporting multi-sig wallets without the bloat of downloading the entire blockchain.
New Features (Universal)
Electrum Protocol: The client's "User Agent" has been changed from "3.3.6" to "electrum/3.3.6". Other libraries connecting to servers can consider not "spoofing" to be Electrum
Added CoinGecko.com fiat rate provider. Changed default provider to CoinGecko.com
Minor bugfixes and usability improvements.
New Features (Windows, MacOS, Linux)
Fix Crash during 2FA wallet creation
Fix Synchroniser so that it does not keep resubscribing to addresses of already closed wallets.
Fix removing addresses/keys from imported wallets
The logging system has been overhauled. Logs can now also optionally be written to disk, disabled by default.
Fix a bug in the synchroniser where client could get stuck. Also show the progress of history sync in the GUI.
Fix Revealer in Windows and MacOS binaries
Ledger Nano X is now recognised, supporting mainnet and testnet
KeepKey is now recognised and supports mainnet and testnet
Device was not getting detected using Windows binary
Support Firmware 6.0.0+
Implement "Seedless" mode
Coin Control in QT – Implemented freezing individual UTXOs in addition to freezing addresses
Fix CPFP – The fees already paid by the parent were not included in the calculation, so it was always overestimated.
Testnet – There is now a warning when the client is started in testnet mode as there were several reports of users getting scammed through social engineering.
CoinChooser – Performance of creating transactions has been improved significantly for larger wallets.
Importing/Sweeping WIF keys: Stricter checks
Several other minor bugfixes and usability improvements.
New Features (Android)
Fix rare crash when changing exchange rate settings
Fix bug with local transactions
Allow selecting Fiat Rate providers without historical data
Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone! Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers. With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!
The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources. Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release. Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias. The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain. The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.
The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here:http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/. What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF. View Team Page.
Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2
Key Blockmarket Features
- Decentralized Marketplace
The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items
- Name Aliases
Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.
- Digital Certificates
Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.
- Integrated Exchanges
Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.
- Security Audit Verified
Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.
Blockmarket Desktop – Quickstart Tutorials (16 short vids)
BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018. This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency
Primary Target Market + Value Potential
The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector. To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.
Key Syscoin Developments
- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST)
Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.
Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.
- Assets & Token Issuance
With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.
- Anonymous Transactions
Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.
- Instant Send
Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.
If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel where the SYS team and community members are active, helpful and responsive.
SYS Team - keyare, sidhujag, sebastien123
Redditor alias - djminger007
Redditor alias – Todoruku
Twitter alias – CryptoMink
Medium blogger – Steven Voros
Medium blogger – Daniel Westby
Medium blogger – The Crypto Journal
Slack Community members – Redrace, Mettamark, Rare and Viljis
This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
Vertcoin's Recent Decisions. The damage hasn't been done yet, please join me in stopping the madness!
Foreword Alright, I’ve been sitting on the sidelines about most of the dealings with Vertcoin because I felt like a lot of the sensible voices were loud enough on their own. Many people have stepped up to the plate and developed amazing products that benefit Vertcoin at no addition expense to the original development team. I’ve seen and helped test/brainstorm some incredible projects. Vert.geek.nz was a great example: a project that promoted p2pool mining while still allowing miners to reap the benefit of merged mining. Before nzsquirrell brought us this product we were all forced to either solo mine or to switch to a mining pool that support merged coins (namely SimpleVert at the time). V2p was another amazing product. There's the One Click Miner that's being developed right now... There are a lot more, but my point is that people were able to see a need for a new service, and build that service without any voting or public funding or whatever. And they did an amazing job because they thought things through. With input from multiple sources, and a slow, steady brainstorming session, they were able to develop something that really couldn’t have been made better. Democracy in Action Alternatively, Vertcoin itself is being left to an absolutely ridiculous voting process right now that WILL destroy the coin, and here’s why: The democratic process doesn’t work. If you build a system by which the majority can make these kinds of decisions, you create an environment based purely on mob mentality. If I can convince a large enough group of people that a certain idea is better than another, I win. This is extremely bad if you’re trying to gather interest from investors as well because it creates too much variance in coin value and feature sets (the idea of changing the also they would probably like, since that’s something Vertcoin has been about since the beginning, changing the inner workings of the coin simply to combat a single “problem” is VERY BAD if you want to attract investors because they see these moves as signs of weakness). Development Now, I’ll come back to the VertVote process later, because I think the most important thing to talk about right now is the decision-making process on the part of our developers. The VTC dev team has done numerous things that don’t make sense to a number of users lately, and they need to be addressed. First, the website update. We’ve beat this horse to a pulp, and I understand that, but I think people still need to keep this in mind. When the new site was released, there wasn’t any input from the community. There wasn’t any play-testing or public brainstorming done to help promote discussion that might have found issues with this site. For example, the “Mining” page still doesn’t have a single mining pool listed, which leaves a user to go out and find a solid pool on their own. This isn’t easy, especially for someone who doesn’t even know how cryptocurrencies work (the primary audience for a site like this should be users with no crypto experience). The same goes for the “Details” page. There’s plenty of technical information, but that doesn’t mean anything to a regular person. They don’t know what an algorithm is, or what block times/rewards are… It even mentioned merged-mining, without any information on what that is. It’s just confusing for a newbie. Management Second, and similarly, the marketing fund got thrown into a pit of uselessness. Vertcoin.org was advertised to miners on a site where people go to see the profitability and mining calculations for a number of coins. Let’s just say that the ad actually catches a miners eye and they click on it. It would lead them to a site that has no information on which mining pools they can/should connect to, aside from p2pool. So the most common frequenter of that site can’t access the most important information he would want from the Vertcoin website. I want to know how that seemed like a good idea. Alternatively, a group of dedicated Vertans (including one miner that has somewhere in the ballpark of 40 rigs, so he’s pretty damn dedicated), built an entire site from scratch that addressed a number of things for regular folks who we should be attracting to Vertcoin, and presented it to the community and the development team. I realize that there’s a sort of pride in work mentality that might have made the devs prefer their own site, but in this case the new presentation was, in my opinion, better. Furthermore, the devs could have taken this new site and moved it over straight away with almost no other changes, besides a couple small fixes and integration to include mobile browsers. Instead, all they got was a 'thanks for the suggestions, I’ll use some of your stuff if it seems fitting’. If you want to check out the alternative site that a few dedicated Vertans built, check it out here. VertVote Now, I promised to come back to VertVote. VertVote says on their front page: "You may vote once on any active poll. Make your voice heard Vertan!”, yet there’s literally nothing stopping a member from voting multiple times. So now we’re making decisions about the life of the coin based on how many possible mis-informed people vote for something, with the honest folks losing out more than anyone else (since the honest ones are the ones less likely to cheat)… Probably the most important factor for VertVote would be the fact that it's in the hands of such a knee-jerk crew right now. I didn't even realize that the vote for block maturation was actually a decision-making vote. I assumed it was simply a poll that the dev team wanted to conduct to get a gauge of how strongly the miners feel on the subject. Instead, they took one of the most poorly worded/conducted votes and turned it into the final decision on the continuation of the coin. That was the wrong decision. Not only that, but it appears that the dev team has decided to interpret the voting results however they see fit, without letting anyone know the conditions of the vote in advance. The example of this being that fact that they completely disregarded the winning vote and instead gave the vote to the second-highest result. To me, this would be like throwing the clear presidential winner out because he only had 49% of the vote (so 51% didn’t want him) and instead picking the candidate who had 30% of the vote simply because he was among the majority… It makes no sense, and if you were going to start a vote with such a senseless base to it, you should have stated as much and given voters more time to decide before they cast their vote(s). As for the VertVote manipulation, for those who don’t believe me. It’s incredibly easy, and ridiculous. To test things out, I used 100 VTC, spread it out across 10 VTC addresses and cast a vote from each. Nothing in the site, not even a browser cookie, stopped me from casting multiple votes. But then I thought a bit more. Why limit myself by how much VTC I have? All I need is 10 VTC in an address at the moment I cast my vote. So really, I just need 10 VTC plus [number of votes I want to cast] times [transaction fee to send 10 VTC]. I could just keep creating wallets, sending the 10 VTC to the new wallet, and vote again… On the other hand, one of the measures to fight against this behavior is a block on IP addresses submitting multiple votes. This doesn't seem all that logical, considering multiple people could reside at one location / share an internet connection and not be able to voice their opinion as well as a single person / internet user. Economically, These are Bad Decisions As for the block subsidy change proposal: This is getting out of hand. Cryptocurrencies’ values need to stay in line with regular products and fiat currency. A very successful cryptocurrency should have about a 1:1 ratio with things normal people are used to. What this means is that we want Vertcoin to settle in value somewhere between $0.50 and $3 each, so that normal people can easily convert the value and go from there. Artificially halting/slowing the production of Vertcoin may result in a slight pump in value, but ultimately it will detract investors because it causes more variance (who knows what the devs/community will want to do next) and it makes Vertcoin less easy to calculate compared to what they’re used to (i.e. the dollar, euro, etc). Think of it, literally, as a coin. If Vertcoin were an actual coin and each coin were worth over $100, people won’t exactly want to carry it around. For this reason, Bitcoin community members have been discussing creating a denomination of sorts, so they could refer to smaller increments of BTC as something like bits and have each bit worth $0.10-1.00. Your proposal would do the exact opposite and make Vertcoin even more difficult for the layman to comprehend. Minor side-point One last thing, and this is mostly unrelated (I noticed it during my experimentation): Vertcoin-Qt has an option to view a transaction on VertExplorer, even though VertExplorer isn’t even around anymore. Alternatively, there’s explorer.vertcoin.org, which works fine. Can the devs please change the wallet so that it can reference transactions without having to copy, browse to explorer.vertcoin.org and then paste/search for that transaction? For Those Who Think We Need VertVote: I ask you this, what did you come here for? Did you like Vertcoin, or did you like the idea of a coin that could be constantly changed on the whim of a couple hundred votes? We all bought into Vertcoin because we liked what it stood for (ASIC-resistance), and the economics of it were sound. Even now, the economics of it are only frowned upon because we see so many PoS coins taking over the market. Nobody's out there suggesting we switch to a PoS model, even though PoS is patently anti-ASIC, ASIC-proof for that matter. The whole point of cryptocurrencies is that they are void of any centralized control. If we leave this coin up to the decisions of those who hold it, we're still centralizing the currency's control to those people in particular. Instead, we should be basing the currency on a constitutional model (by that I mean that there should be absolutes that won't be changed, such as the block reward schedule, total VTC supply, time to block solve, etc). The technical details should only change out of absolute necessity to maintain the requirements laid out in the coin's "constitution". In this case, changing the algorithm makes sense, because it maintains the constitutional requirement of being ASIC-resistant. Changing the block reward is just an idea that people like because they see it as a way to increase the value and ROI of their current holdings, without regard to the fact that it'll scare off practically any conscious investor.
https://preview.redd.it/t19rkcvhpz111.jpg?width=1902&format=pjpg&auto=webp&s=b47131719976c8e748bbd28f06425298365113cf https://preview.redd.it/1h4y0qfnpz111.jpg?width=1898&format=pjpg&auto=webp&s=6ce41409bbac3988aeb91dccfc6992f933f99033 Taler is based on blocking technology and Lyra2z algorithm, that is, distributed decentralized crypto currency, which does not have a single emission center and centralized management. https://preview.redd.it/zg6dkv68b0g21.png?width=1901&format=png&auto=webp&s=79f6ba2510bef30a65e6a877f653bf5c2b791e69 ● Starting the network - 09/09/2017 ● PoW/PoS algorithm - Lyra2z● Issue - 23,333,333 coins● Unit time - 1 minute● Remuneration - 7 TLR coins● Mining Hardware - CPU, GPU, PoS● Difficulty adjustment - every block● Atomic swaps● Segwit & Lightning● Replay protection● Unique address format Bech32 \* Premine is gradually distributed as a starting working capital to a business ready to take a coin as payment for its goods and services.All business partners will be added to the Taler Ecosystem. The list is available on the websites and will be constantly updated. Briefing: Viability, integrity of the Taler system, transactions inside the system and the issue of new coins are provided by the computer network of Taler users themselves.Taler is the money of the new time, but at the same time it is a non-commercial project, in the sense that its creators do not receive direct personal benefits. The creators of the Taler system aimed this crypto currency for its use by private individuals, as well as Belarusian small and medium-sized businesses. WELCOME FROM TALER TEAM: Welcome Bitcoin community and Bitcointalk audience! So, it happened! We did it - launched the first Belarusian crypto currency, which we called Taler. They were named in honor of the monetary unit, which had circulation on the Old Belorussian lands in the "golden age" of our homeland - during the time of the Grand Duchy and Rzeczpospolita. We created the first independent crypto currency in Belarus. Which is able to attract investment, the flow of capital into the country, thereby it will help develop private and public business. Implementing instant and virtually free transactions - will facilitate the collection of funds for educational and social programs. POSITION OF CRYPTO-CURRENCIES IN THE COUNTRY (OFFICIAL INFORMATION): Belarus legalized crypto-currencies and mining without taxes. President of Belarus Alexander Lukashenko on December 21, 2017 signed a decree "On the development of the digital economy", the key idea of which is legalization and support of operations with crypto-currencies, as well as mining and block-building technology at the state level. The decree allows trade in crypto-currencies and their circulation in everyday life in Belarus. Individuals will be able to store, change, buy, donate, bequeath, mine, and also exchange crypto-currencies and tokens for fiat currencies. At the same time it is determined that mining, buying and selling of tokens, carried out by natural persons, do not relate to entrepreneurial activity. To declare crypto-currencies and incomes from operations with them Belarusians also it will not be necessary. Yurlitsa will be able to issue their own tokens through resident companies of the Belarusian High-Tech Park, that is, to conduct an ICO campaign in Belarus, it is enough to find a partner-resident of the HTP. Registration of a company in the country is not required. Also, they will be able to buy and sell tokens through crypto-exchange exchanges. In addition to the issues of crypto-currency, the decree highlights provisions that should simplify the work of the IT sector in the country. For example, HTP residents are allowed to hire foreign citizens without permits, and the founders and employees of the park's residents themselves can enter Belarus without visas. The document establishes a number of tax incentives for the IT company, exempts company fees that represent advertising services for HTP residents, which is expected to simplify cooperation with Google, Facebook and other companies.To become a resident of the HTP, according to the decree, companies that are engaged in training neural networks, the development of artificial intelligence, crypto-currencies and mining, as well as advertising on the Internet and e-sports.Residents of HTP will be able to perform the following actions related to the turnover of tokens and crypto-currencies: ● Provide services for the organization and conduct of ICO, including promotion and advertising; ● Organize cryptographic exchanges; ● Organize crypto-exchangers; ● Mine; ● Act as investment funds; ● Conduct your own ICO. During the next five years - until January 1, 2023 - many transactions with tokens will not have to pay taxes. So, you will not have to pay VAT when transferring the rights to tokens to other persons (including foreign organizations), the profit tax for exchanging one token for another is also not payable. Revenue from the exchange is also exempt from taxes. In addition, the income of individuals from the implementation of authorized transactions with tokens is not subject to income tax from individuals. HTP residents are also given the right to use smart contracts. PROMOTION OF THE TALER IN BELARUS The first task is to form a community around the Taler system, which, in turn, will promote the Taler in all spheres of life of the Belarusians. The mechanism of introducing Talers into everyday use through a system of loyalty, supported by private businesses. In a sense, this can be called a "consumer mining", because with the help of consumption, customers can receive a reward - coins of a Taler. And the more such people, the more businesses that connect to the "Taler" system. And the more demand for Talers, as businesses use Talers to charge customers, the higher the rate of the Taler itself. In turn, the higher the rate - the more the consumer strives to use the services of those businesses that are accrued by Talers. So Taler is able to become a real driver of consumption. Official site:TalerCrypto.com Bitcointalk:https://bitcointalk.org/index.php?topic=3758679.0 Purses: Windows 32 Windows 64 Linux MaC IOS(The development) Ecosystem Taler: Vkontakte page: https://vk.com/taler_crypto Instagram: https://www.instagram.com/talerminsk Twitter LIVE: https://twitter.com/LiveTaler Facebook https://www.facebook.com/cryptotaler Services**:** Mobile Payment Serviceand Internet (CIS) - Talers platilib.com Dice: taler.games Buying games on Steam for Taler: TalerPlay Instagram Taler Play: TalerPlay VieToday Game Project: Vie.Today Browser Explorer, transaction scan, wallets network: explorer.talercrypto.com For developers: GitHub: https://github.com/taler-project API: explorer.talercrypto.com/info Mining pools: pool.vie.today nlpool.nl zergpool.com fairpool.pro pool.bibop.net aikapool.com noasic.zone starpool.biz pool.bibop.net blazepool.com ahashpool.com lyra2z.com Mining calculator: coincalculators crypto-coinz Courses and bidding statistics: CoinLib Exchanges: Stex.com Bitexlive.com Crex24 Btc-trade Uralc P2P List of applications sent to exchanges: https://vk.com/topic-162917077_40804871 Official English-language telegram chat: https://t.me/Taler_English Official Russian-language telegram chats: https://t.me/taler_crypto Sale of Things for TLR (TalerShop) TalerShop Unofficial telegram chats: KryptaBelarusi: CryptoBelarusik Viejšnoryja(VieToday) VieToday TalerOnline: TalerOnline The picture contains a password from 10 000 tlr: Vzlom_Kartiny Taler Play: TalerPlay MiTaler-Shop: MiTaler ZaTaler: ZaTaler Republic of Blockhain(Channel): CryptoRepublic Republic of Blockhain(chat): CryptoRepublic_MainChat **Contact with developers:* *Official email: [[email protected]](mailto:[email protected]) Customer Service: [[email protected]](mailto:[email protected]) Attention! Email [[email protected]](mailto:[email protected]) is no longer functioning, and is under the control of unknown persons. Be carefull!
The pools are all reporting the wrong network data (I hope its this - but the rate of discovery of blocks by pools would suggest otherwise)”
(https://bitcointalk.org/index.php?topic=583449.msg6782852#msg6782852) -2192: “New source (0.8.8.1) is up with optimizations in the hashing. Hashrate should go up ~4x or so, but may have CPU architecture dependence. Windows binaries are up as well for both 64-bit and 32-bit." (https://bitcointalk.org/index.php?topic=583449.msg6788812#msg6788812) [eizh makes official announce of last miner optimization, it is may 17th] -2219: (https://bitcointalk.org/index.php?topic=583449.msg6792038#msg6792038) [wolf0 is part of the monero community for a while, discussing several topics as botnet mining and miner optimizations. Now spots security flaws in the just launched pools] -2301: "5x optimized miner released, network hashrate decreases by 10% Make your own conclusions. :|" (https://bitcointalk.org/index.php?topic=583449.msg6806946#msg6806946) -2323: "Monero is on Poloniex https://poloniex.com/exchange/btc_mro" (https://bitcointalk.org/index.php?topic=583449.msg6808548#msg6808548) -2747: "Monero is holding a $500 logo contest on 99designs.com now: https://99designs.com/logo-design/contests/monero-mro-cryptocurrency-logo-design-contest-382486" (https://bitcointalk.org/index.php?topic=583449.msg6829109#msg6829109) -2756: “So... ALL Pools have 50KH/s COMBINED. Yet, network hash is 20x more. Am i the only one who thinks that some people are insta mining with prepared faster miners?” (https://bitcointalk.org/index.php?topic=583449.msg6829977#msg6829977) -2757: “Pools aren't stable yet. They are more inefficient than solo mining at the moment. They were just released. 10x optimizations have already been released since launch, I doubt there is much more optimization left.” (https://bitcointalk.org/index.php?topic=583449.msg6830012#msg6830012) -2765: “Penalty for too large block size is disastrous in the long run. Once MRO value increases a lot, block penalties will become more critical of an issue. Pools will fix this issue by placing a limit on number and size of transactions. Transaction fees will go up, because the pools will naturally accept the most profitable transactions. It will become very expensive to send with more than 0 mixin. Anonymity benefits of ring signatures are lost, and the currency becomes unusable for normal transactions.” (https://bitcointalk.org/index.php?topic=583449.msg6830475#msg6830475) -2773: "The CryptoNote developers didn't want blocks getting very large without genuine need for it because it permits a malicious attack. So miners out of self-interest would deliberately restrict the size, forcing the network to operate at the edge of the penalty-free size limit but not exceed it. The maximum block size is a moving average so over time it would grow to accommodate organic volume increase and the issue goes away. This system is most broken when volume suddenly spikes." (https://bitcointalk.org/index.php?topic=583449.msg6830710#msg6830710) -3035: "We've contributed a massive amount to the infrastructure of the coin so far, enough to get recognition from cryptonote, including optimizing their hashing algorithm by an order of magnitude, creating open source pool software, and pushing several commits correcting issues with the coin that eventually were merged into the ByteCoin master. We also assisted some exchange operators in helping to support the coin. To say that has no value is a bit silly... We've been working alongside the ByteCoin devs to improve both coins substantially." (https://bitcointalk.org/index.php?topic=583449.msg6845545#msg6845545) [tacotime defends the Monero team and community of accusations of just “ripping-off” others hard-work and “steal” their project] -3044: "image" (https://bitcointalk.org/index.php?topic=583449.msg6845986#msg6845986) [Monero added to coinmarketcap may 21st 2014] -3059: "You have no idea how influential you have been to the success of this coin. You are a great ambassador for MRO and one of the reasons why I chose to mine MRO during the early days (and I still do, but alas no soup for about 5 days now)." (https://bitcointalk.org/index.php?topic=583449.msg6846509#msg6846509) [random user thanks smooth CONSTANT presence, and collaboration. It is not all FUD ;)] -3068: "You are a little too caught up in the mindset of altcoin marketing wars about "unique features" and "the team" behind the latest pump and dump scam. In fact this coin is really little more than BCN without the premine. "The team" is anyone who contributes code, which includes anyone contributing code to the BCN repository, because that will get merged as well (and vice-versa). Focus on the technology (by all accounts amazing) and the fact that it was launched in a clean way without 80% of the total world supply of the coin getting hidden away "somewhere." That is the unique proposition here. There also happens to be a very good team behind the coin, but anyone trying too hard to market on the basis of some "special" features, team, or developer is selling you something. Hold on to your wallet." (https://bitcointalk.org/index.php?topic=583449.msg6846638#msg6846638) [An answer to those trolls saying Monero has no innovation/unique feature] -3070: "Personally I found it refreshing that Monero took off WITHOUT a logo or a gui wallet, it means the team wasn't hyping a slick marketing package and is concentrating on the coin/note itself." (https://bitcointalk.org/index.php?topic=583449.msg6846676#msg6846676) -3119: “image” [included for the lulz] -3101: "[…]The main developers are tacotime, smooth, NoodleDoodle. Some needs are being contracted out, including zone117x, LucasJones, and archit for the pool, another person for a Qt GUI, and another person independently looking at the code for bugs." (https://bitcointalk.org/index.php?topic=583449.msg6848006#msg6848006) [the initial "core team" so far, eizh post] -3123: (https://bitcointalk.org/index.php?topic=583449.msg6850085#msg6850085) [fluffy steps-in with an interesting dense post. Don’t dare to skip it, worthwhile reading] -3127: (https://bitcointalk.org/index.php?topic=583449.msg6850526#msg6850526) [fluffy again, worth to read it too, so follow link, don’t be lazy] -3194: "Hi guys - thanks to lots of hard work we have added AES-NI support to the slow_hash function. If you're using an AES-NI processor you should see a speed-up of about 30%.” (https://bitcointalk.org/index.php?topic=583449.msg6857197#msg6857197) [flufflypony is now pretty active in the xmr topic and announces a new optimization to the crippled miner] -3202: "Whether using pools or not, this coin has a lot of orphaned blocks. When the original fork was done, several of us advised against 60 second blocks, but the warnings were not heeded. I'm hopeful we can eventually make a change to more sane 2- or 2.5-minute blocks which should drastically reduce orphans, but that will require a hard fork, so not that easy." (https://bitcointalk.org/index.php?topic=583449.msg6857796#msg6857796) [smooth takes the opportunity to remember the need of bigger target block] -3227: “Okay, optimized miner seems to be working: https://bitcointalk.org/index.php?topic=619373” [wolf0 makes public his open source optimized miner] -3235: "Smooth, I agree block time needs to go back to 2 minutes or higher. I think this and other changes discussed (https://bitcointalk.org/index.php?topic=597878.msg6701490#msg6701490) should be rolled into a single hard fork and bundled with a beautiful GUI wallet and mining tools." (https://bitcointalk.org/index.php?topic=583449.msg6861193#msg6861193) [tail emission, block target and block size are discussed in the next few messages among smooth, johnny and others. If you want to know further about their opinions/reasonings go and read it] -3268: (https://bitcointalk.org/index.php?topic=583449.msg6862693#msg6862693) [fluffy dares another user to bet 5 btc that in one year monero will be over dash in market cap. A bet that he would have lost as you can see here https://coinmarketcap.com/historical/20150524/ even excluding the 2M “instamined” coins] -3283: "Most of the previous "CPU only" coins are really scams and the developers already have GPU miner or know how to write one. There are a very few exceptions, almost certainly including this one. I don't expect a really dominant GPU miner any time soon, maybe ever. GPUs are just computers though, so it is certainly possible to mine this on a GPU, and there probably will be a some GPU miner, but won't be so much faster as to put small scale CPU miners out of business (probably -- absent some unknown algorithmic flaw). Everyone focuses on botnets because it has been so long since regular users were able to effectively mine a coin (due to every coin rapidly going high end GPU and ASIC) that the idea that "users" could vastly outnumber "miners" (botnet or otherwise) isn't even on the radar. The vision here is a wallet that asks you when you want to install: "Do you want to devote some of you CPU power to help secure the network. You will be eligible to receive free coins as a reward (recommended) [check box]." Get millions of users doing that and it will drive down the value of mining to where neither botnets nor professional/industrial miners will bother, and Satoshi's original vision of a true p2p currency will be realized. That's what cryptonote wants to accomplish with this whole "egalitarian mining" concept. Whether it succeeds I don't know but we should give it a chance. Those cryptonote guys seem pretty smart. They've probably thought this through better than any of us have." (https://bitcointalk.org/index.php?topic=583449.msg6863720#msg6863720) [smooth vision of a true p2p currency] -3318: "I have a screen shot that was PMed to me by someone who paid a lot of money for a lot of servers to mine this coin. He won't be outed by me ever but he does in fact exist. Truth." (https://bitcointalk.org/index.php?topic=583449.msg6865061#msg6865061) [smooth somehow implies it is not botnets but an individual or a group of them renting huge cloud instances] -3442: "I'm happy to report we've successfully cracked Darkcoin's network with our new quantum computers that just arrived from BFL, a mere two weeks after we ordered them." [fluffy-troll] -3481: “Their slogan is, "Orphaned Blocks, Bloated Blockchain, that's how we do"" (https://bitcointalk.org/index.php?topic=583449.msg6878244#msg6878244) [Major FUD troll in the topic. One of the hardest I’ve ever seen] -3571: "Tacotime wanted the thread name and OP to use the word privacy instead of anonymity, but I made the change for marketing reasons. Other coins do use the word anonymous improperly, so we too have to play the marketing game. Most users will not bother looking at details to see which actually has more privacy; they'll assume anonymity > privacy. In a world with finite population, there's no such thing as anonymity. You're always "1 of N" possible participants. Zero knowledge gives N -> everyone using the currency, ring signatures give N -> your choice, and CoinJoin gives N -> people who happen to be spending around the same amount of money as you at around the same time. This is actually the critical weakness of CoinJoin: the anonymity set is small and it's fairly susceptible to blockchain analysis. Its main advantage is that you can stick to Bitcoin without hard forking. Another calculated marketing decision: I made most of the OP about ring signatures. In reality, stealth addressing (i.e. one-time public keys) already provides you with 90% of the privacy you need. Ring signatures are more of a trump card that cannot be broken. But Bitcoin already has manual stealth addressing so the distinguishing technological factor in CryptoNote is the use of ring signatures. This is why I think having a coin based on CoinJoin is silly: Bitcoin already has some privacy if you care enough. A separate currency needs to go way beyond mediocre privacy improvements and provide true indistinguishably. This is true thanks to ring signatures: you can never break the 1/N probability of guessing correctly. There's no additional circumstantial evidence like with CoinJoin (save for IP addresses, but that's a problem independent of cryptocurrencies)." (https://bitcointalk.org/index.php?topic=583449.msg6883525#msg6883525) [Anonymity discussions, specially comparing Monero with Darkcoin and its coinjoin-based solution, keep going on] -3593: "Transaction fees should be a fixed percentage of the block reward, or at the very least not be controllable by the payer. If payers can optionally pay more then it opens the door for miner discrimination and tx fee bidding wars." (https://bitcointalk.org/index.php?topic=583449.msg6886770#msg6886770) [Johnny Mnemonic is a firm defender of fixed fees and tail emission: he see the “fee market” as big danger to the usability of cryptocurrencies] -3986: (https://bitcointalk.org/index.php?topic=583449.msg6930412#msg6930412) [partnership with i2p] -4373: “Way, way faster version of cpuminer: https://bitcointalk.org/index.php?topic=619373” (https://bitcointalk.org/index.php?topic=583449.msg6993812#msg6993812) [super-optimized miner is finally leaked to the public. Now the hashrate is 100 times bigger than originally with crippled miner. The next hedge for "cloud farmers" is GPU mining] -4877: “1. We have a logo! If you use Monero in any of your projects, you can grab a branding pack here. You can also see it in all its glory right here: logo […] 4. In order to maintain ISO 4217 compliance, we are changing our ticker symbol from MRO to XMR effective immediately." (https://bitcointalk.org/index.php?topic=583449.msg7098497#msg7098497) [Jun 2nd 2014] -5079: “First GPU miner: https://bitcointalk.org/index.php?topic=638915.0” (https://bitcointalk.org/index.php?topic=583449.msg7130160#msg7130160) [4th June: Claymore has developed the first CryptoNight open source and publicly available GPU miner] -5454: "New update to my miner - up to 25% hash increase. Comment and tell me how much of an increase you got from it: https://bitcointalk.org/index.php?topic=632724" (https://bitcointalk.org/index.php?topic=583449.msg7198061#msg7198061) [miner optimization is an endless task] -5464: "I have posted a proposal for fixed subsidy: https://bitcointalk.org/index.php?topic=597878.msg7202538#msg7202538" (https://bitcointalk.org/index.php?topic=583449.msg7202776#msg7202776) [Nice charts and discussion proposed by tacotime, worth reading it] -5658: "- New seed nodes added. - Electrum-style deterministic wallets have been added to help in the recovery of your wallet should you ever need to. It is enabled by default." (https://bitcointalk.org/index.php?topic=583449.msg7234475#msg7234475) [Now you can recover your wallet with a 24 word seed] -5726: (https://bitcointalk.org/index.php?topic=583449.msg7240623#msg7240623) [Bitcoin Pizza in monero version: a 2500 XMR picture sale (today worth ~$20k)] -6905: (https://bitcointalk.org/index.php?topic=583449.msg7386715#msg7386715) [Monero missives: CryptoNote peer review starts whitepaper reviewed)] -7328: (https://bitcointalk.org/index.php?topic=583449.msg7438333#msg7438333) [android monero widget built] This is a dense digest of the first several thousand messages on the definitive Monero thread. A lot of things happened in this stressful days and most are recorded here. It can be summarized in this:
28th April: Othe and zone117x assume the GUI wallet and CN pools tasks.
30th April: First NoodleDoodle's miner optimization.
11th May: First Monero exchanger
13th May: Open source pool code is ready.
16th May: First pool mined block.
19th May: Monero in poloniex
20th May: Monero +1100 bitcoin 24h trading volume in Poloniex.
21st May: New official miner optimization x4 speed (accumulated optimization x12-x16). Open source wolf0's CPU miner released.
25th May: partnership with i2p
28th May: The legendary super-optimized miner is leaked. Currently running x90 original speed. Hedge of the "cloud farmers" is over in the cpu mining.
2nd June: Monero at last has a logo. Ticker symbol changes to the definitive XMR (former MRO)
4th June: Claymore's open source GPU miner.
10th June: Monero's "10,000 bitcoin pizza" (2500 XMR paintig). Deterministic seed-based wallets (recover wallet with a 24 word seed)
March 2015 – tail emission added to code
March 2016 – monero hard forks to 2 min block and doubles block reward
There basically two things in here that can be used to attack Monero:
Crippled miner Gave unfair advantage to those brave enough to risk money and time to optimize and mine Monero.
Fast curve emission non-bitcoin-like curve as initially advertised and as it was widely accepted as suitable
Though we have to say two things to support current Monero community and devs:
The crippled miner was coded either by Bytecoin or CryptoNote, and 100% solved within a month by Monero community
The fast curve emission was a TFT miscalculation. He forgot to consider that as he was halving the block target he was unintentionally doubling the emission rate.
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