What is Bitcoin Mining? How Does it Actually Work? (2020
What is Bitcoin Mining? How Does it Actually Work? (2020
Bitcoin Mining Guide - Getting started with Bitcoin mining
Bitcoin Mining Definition - investopedia.com
Everything you need to know about Bitcoin mining
What is Bitcoin Mining and How Does it Work? (2020 Updated)
Why Osana takes so long? (Programmer's point of view on current situation)
I decided to write a comment about «Why Osana takes so long?» somewhere and what can be done to shorten this time. It turned into a long essay. Here's TL;DR of it:
The cost of never paying down this technical debt is clear; eventually the cost to deliver functionality will become so slow that it is easy for a well-designed competitive software product to overtake the badly-designed software in terms of features. In my experience, badly designed software can also lead to a more stressed engineering workforce, in turn leading higher staff churn (which in turn affects costs and productivity when delivering features). Additionally, due to the complexity in a given codebase, the ability to accurately estimate work will also disappear. Junade Ali, Mastering PHP Design Patterns (2016)
Longer version: I am not sure if people here wanted an explanation from a real developer who works with C and with relatively large projects, but I am going to do it nonetheless. I am not much interested in Yandere Simulator nor in this genre in general, but this particular development has a lot to learn from for any fellow programmers and software engineers to ensure that they'll never end up in Alex's situation, especially considering that he is definitely not the first one to got himself knee-deep in the development hell (do you remember Star Citizen?) and he is definitely not the last one. On the one hand, people see that Alex works incredibly slowly, equivalent of, like, one hour per day, comparing it with, say, Papers, Please, the game that was developed in nine months from start to finish by one guy. On the other hand, Alex himself most likely thinks that he works until complete exhaustion each day. In fact, I highly suspect that both those sentences are correct! Because of the mistakes made during early development stages, which are highly unlikely to be fixed due to the pressure put on the developer right now and due to his overall approach to coding, cost to add any relatively large feature (e.g. Osana) can be pretty much comparable to the cost of creating a fan game from start to finish. Trust me, I've seen his leaked source code (don't tell anybody about that) and I know what I am talking about. The largest problem in Yandere Simulator right now is its super slow development. So, without further ado, let's talk about how «implementing the low hanging fruit» crippled the development and, more importantly, what would have been an ideal course of action from my point of view to get out. I'll try to explain things in the easiest terms possible.
else if's and lack any sort of refactoring in general
Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away. Antoine de Saint-Exupéry
This is why refactoring — activity of rewriting your old code so it does the same thing, but does it quicker, in a more generic way, in less lines or simpler — is so powerful. In my experience, you can only keep one module/class/whatever in your brain if it does not exceed ~1000 lines, maybe ~1500. Splitting 17000-line-long class into smaller classes probably won't improve performance at all, but it will make working with parts of this class way easier. Is it too late now to start refactoring? Of course NO: better late than never.
If you think that you wrote this code, so you'll always easily remember it, I have some bad news for you: you won't. In my experience, one week and that's it. That's why comments are so crucial. It is not necessary to put a ton of comments everywhere, but just a general idea will help you out in the future. Even if you think that It Just Works™ and you'll never ever need to fix it. Time spent to write and debug one line of code almost always exceeds time to write one comment in large-scale projects. Moreover, the best code is the code that is self-evident. In the example above, what the hell does (float) 6 mean? Why not wrap it around into the constant with a good, self-descriptive name? Again, it won't affect performance, since C# compiler is smart enough to silently remove this constant from the real code and place its value into the method invocation directly. Such constants are here for you. I rewrote my code above a little bit to illustrate this. With those comments, you don't have to remember your code at all, since its functionality is outlined in two tiny lines of comments above it. Moreover, even a person with zero knowledge in programming will figure out the purpose of this code. It took me less than half a minute to write those comments, but it'll probably save me quite a lot of time of figuring out «what was I thinking back then» one day. Is it too late now to start adding comments? Again, of course NO. Don't be lazy and redirect all your typing from «debunk» page (which pretty much does the opposite of debunking, but who am I to judge you here?) into some useful comments.
This is often neglected, but consider the following. You wrote some code, you ran your game, you saw a new bug. Was it introduced right now? Is it a problem in your older code which has shown up just because you have never actually used it until now? Where should you search for it? You have no idea, and you have one painful debugging session ahead. Just imagine how easier it would be if you've had some routines which automatically execute after each build and check that environment is still sane and nothing broke on a fundamental level. This is called unit testing, and yes, unit tests won't be able to catch all your bugs, but even getting 20% of bugs identified at the earlier stage is a huge boon to development speed. Is it too late now to start adding unit tests? Kinda YES and NO at the same time. Unit testing works best if it covers the majority of project's code. On the other side, a journey of a thousand miles begins with a single step. If you decide to start refactoring your code, writing a unit test before refactoring will help you to prove to yourself that you have not broken anything without the need of running the game at all.
This is basically pretty self-explanatory. You set this thing once, you forget about it. Static code analyzer is another «free estate» to speed up the development process by finding tiny little errors, mostly silly typos (do you think that you are good enough in finding them? Well, good luck catching x << 4; in place of x <<= 4; buried deep in C code by eye!). Again, this is not a silver bullet, it is another tool which will help you out with debugging a little bit along with the debugger, unit tests and other things. You need every little bit of help here. Is it too late now to hook up static code analyzer? Obviously NO.
Say, you want to build Osana, but then you decided to implement some feature, e.g. Snap Mode. By doing this you have maybe made your game a little bit better, but what you have just essentially done is complicated your life, because now you should also write Osana code for Snap Mode. The way game architecture is done right now, easter eggs code is deeply interleaved with game logic, which leads to code «spaghettifying», which in turn slows down the addition of new features, because one has to consider how this feature would work alongside each and every old feature and easter egg. Even if it is just gazing over one line per easter egg, it adds up to the mess, slowly but surely. A lot of people mention that developer should have been doing it in object-oritented way. However, there is no silver bullet in programming. It does not matter that much if you are doing it object-oriented way or usual procedural way; you can theoretically write, say, AI routines on functional (e.g. LISP)) or even logical language if you are brave enough (e.g. Prolog). You can even invent your own tiny programming language! The only thing that matters is code quality and avoiding the so-called shotgun surgery situation, which plagues Yandere Simulator from top to bottom right now. Is there a way of adding a new feature without interfering with your older code (e.g. by creating a child class which will encapsulate all the things you need, for example)? Go for it, this feature is basically «free» for you. Otherwise you'd better think twice before doing this, because you are going into the «technical debt» territory, borrowing your time from the future by saying «I'll maybe optimize it later» and «a thousand more lines probably won't slow me down in the future that much, right?». Technical debt will incur interest on its own that you'll have to pay. Basically, the entire situation around Osana right now is just a huge tale about how just «interest» incurred by technical debt can control the entire project, like the tail wiggling the dog. I won't elaborate here further, since it'll take me an even larger post to fully describe what's wrong about Yandere Simulator's code architecture. Is it too late to rebuild code architecture? Sadly, YES, although it should be possible to split Student class into descendants by using hooks for individual students. However, code architecture can be improved by a vast margin if you start removing easter eggs and features like Snap Mode that currently bloat Yandere Simulator. I know it is going to be painful, but it is the only way to improve code quality here and now. This will simplify the code, and this will make it easier for you to add the «real» features, like Osana or whatever you'd like to accomplish. If you'll ever want them back, you can track them down in Git history and re-implement them one by one, hopefully without performing the shotgun surgery this time.
Again, I won't be talking about the performance, since you can debug your game on 20 FPS as well as on 60 FPS, but this is a very different story. Yandere Simulator is huge. Once you fixed a bug, you want to test it, right? And your workflow right now probably looks like this:
Fix the code (unavoidable time loss)
Rebuild the project (can take a loooong time)
Load your game (can take a loooong time)
Test it (unavoidable time loss, unless another bug has popped up via unit testing, code analyzer etc.)
And you can fix it. For instance, I know that Yandere Simulator makes all the students' photos during loading. Why should that be done there? Why not either move it to project building stage by adding build hook so Unity does that for you during full project rebuild, or, even better, why not disable it completely or replace with «PLACEHOLDER» text for debug builds? Each second spent watching the loading screen will be rightfully interpreted as «son is not coding» by the community. Is it too late to reduce loading times? Hell NO.
Or any other continuous integration tool. «Rebuild a project» can take a long time too, and what can we do about that? Let me give you an idea. Buy a new PC. Get a 32-core Threadripper, 32 GB of fastest RAM you can afford and a cool motherboard which would support all of that (of course, Ryzen/i5/Celeron/i386/Raspberry Pi is fine too, but the faster, the better). The rest is not necessary, e.g. a barely functional second hand video card burned out by bitcoin mining is fine. You set up another PC in your room. You connect it to your network. You set up ramdisk to speed things up even more. You properly set up Jenkins) on this PC. From now on, Jenkins cares about the rest: tracking your Git repository, (re)building process, large and time-consuming unit tests, invoking static code analyzer, profiling, generating reports and whatever else you can and want to hook up. More importantly, you can fix another bug while Jenkins is rebuilding the project for the previous one et cetera. In general, continuous integration is a great technology to quickly track down errors that were introduced in previous versions, attempting to avoid those kinds of bug hunting sessions. I am highly unsure if continuous integration is needed for 10000-20000 source lines long projects, but things can be different as soon as we step into the 100k+ territory, and Yandere Simulator by now has approximately 150k+ source lines of code. I think that probably continuous integration might be well worth it for Yandere Simulator. Is it too late to add continuous integration?NO, albeit it is going to take some time and skills to set up.
Stop caring about the criticism
Stop comparing Alex to Scott Cawton. IMO Alex is very similar to the person known as SgtMarkIV, the developer of Brutal Doom, who is also a notorious edgelord who, for example, also once told somebody to kill himself, just like… However, being a horrible person, SgtMarkIV does his job. He simply does not care much about public opinion. That's the difference.
Monthly Nano News: December 2019 + Year Recap Special
This is what NANO has been up to lately. I don't think I lie if I say it has been quite an amazing year! See you soon and happy new year! Something nice is coming soon that I have been working on for a while, stay tuned..
Bitcoin Verde: A New Consensus Full-Node Implementation for BCH
For the past year I have been working on a full-node in Java, completely from scratch. Today, after so much research, work, communication and testing, I am very happy to release the first beta version of Bitcoin Verde--on the genesis block's 10th birthday, no less! Bitcoin Verde is a ground-up implementation of the Bitcoin (Cash) (BCH) protocol. This project is a full node, blockchain explorer, and library. In the past, lack of a diversified development team and node implementation have caused bugs to become a part of the protocol. BCH currently has roughly three common full-node implementations (Bitcoin ABC, Bitcoin XT, Bitcoin Unlimited). However, these implementations are forked versions of Bitcoin Core, which means they may share the same (undiscovered) bugs. With a diverse network of nodes, bugs in the implementation of the protocol will result in incompatible blocks between the nodes, causing a temporary fork. This situation is healthy for the network in the long term, as the temporary forks will resolve over time and the intended ruleset becoming the consensus. Bitcoin Verde approaches many of the design decisions made by the reference client very differently--most prominently, Bitcoin Verde stores the entire blockchain in its database, not just the UTXOs. Because of this, reorgs are handled very differently and it's even possible to validate multiple forks at the same time. In fact, you can view http://bitcoinverde.org/blockchain/ to view some of the forks our instance has encountered. The node considers the chain matching its consensus rules and having the most PoW to be its "head" chain. I've spent a lot of time talking with the Bitcoin XT group to attempt to stay in-step with their consensus rules as much as possible, and it my goal to ensure we are diversifying the implementation of the network, NOT separating it. Because of that, please be sure to treat this release as a beta. Currently Bitcoin Verde does not have a mining-pool module finished, but once confidence has been raised about the consistency of the rulesets, this is a feature we intend on implementing and Bitcoin Verde will become a mining full node. Every component is multithreaded, including networking, validating, mempool acceptance, etc. It is my hope that during the next network stress-test, Bitcoin Verde can help to gather statistics on forks, transactions per second, and block/tx propagation time. Bitcoin Verde has its drawbacks: it's a resource-hog. Since the whole blockchain is indexed, the disk footprint is about 600GB. Initial-block-download memory usage is configurable, but is about 4 GB, (1.5 GB for the database + 1/2 GB for the node + 1 GB for the tx-bloom filter + 1 GB for the UTXO cache). Another drawback is that Bitcoin Verde "does more stuff"--it is essentially a block explorer, and because of that, the initial block download takes about 2-4 days to index all of chain and its addresses. Bitcoin Verde has been tested for weeks on Linux (Debian) and OS X. The node has not been tested well on Windows and it may in fact not even sync fully (only a Windows issue, currently). If you're a Windows user and are tech-savvy, feel free to give it a go and report any issues. I wanted to give my thanks to the Bitcoin XT team for being so welcoming of me. You're a great group of guys, and thanks for the conversations. Explorer: http://bitcoinverde.org Source: https://github.com/softwareverde/bitcoin-verde Documentation: http://bitcoinverde.org/documentation/ Forks: http://bitcoinverde.org/blockchain/ Node Status: http://bitcoinverde.org/status/
For those unacquainted: Bitcoin Verde is an indexing full-node, written from the ground up in Java. Bitcoin Verde comes with a block explorer, and a stratum mining pool. While we consider v1.1.0 still a beta release, our public node (https://bitcoinverde.org) has been stable since January. Bitcoin Verde is the first to write a Schnorr Signature verification algorithm for Java (using Pieter Wuille's specification) ; if others implementations or wallets need to use our implementation as a reference, it can be located here. Verde's Schnorr implementation has been tested against the same suite of tests as ABC's (Test file located here). We intend to submit a pull request to Bouncy Castle sometime in the future. Things that are new this release:
HF20190515 rules are now supported. (Schnorr Signatures)
Headers are now bootstrapped during initial sync. (Can be disabled in conf/server.conf)
SPV Bloom Filters are supported.
Improved DOS defences against malicious nodes.
Adding ASIC Mining module and pool.
Misc. Explorer improvements.
Misc. performance improvements.
Similar to our previous release, Bitcoin Verde is very likely incompatible with Windows. Furthermore, it's an indexing node, and because of that will have more system requirements than a traditional node due to database indexes and the inherent underlying database structure. Our fully synced bitcoinverde.org node is currently using 615G disk space, and 21G of memory. Bitcoin Verde can be configured to run with far less memory, with a minimum around 2G. (Disable UTXO caching, disable TX Bloom Filter, set max database memory to ~1.5G). We highly recommend running BV on an SSD or M2. Traditional HDD drives are awful at random reads, and the last attempted initial-block-download we performed on an HDD took about 2+ weeks to complete. If you have any problems with your node, please reach out to us at [email protected]. We'd be happy to help and troubleshoot problems. Alternatively, you can report bugs or issues to our github. We've been diligently working on a mobile wallet based on the Bitcoin Verde codebase. We hope to provide a more modern replacement for bitcoinj, while also supporting SLP tokens. We are also ensuring all Bitcoin Verde SPV code can be transpiled to Objective-C (with Swift Bindings) for use on iOS. Finally, Bitcoin Verde is experimenting with a new message to improve the initial synchronization of SPV wallets called addrblocks, which will greatly improve the ability to validate SLP tokens. Additionally/alternatively, we have been looking at supporting BIP-157 for a more privacy-oriented way to achieve near-instant SPV synchronization; we look forward to sharing these thoughts in the near future. Again, thank you to the XT team for your support. Another thank you for the ABC team for welcoming us into your conversations, and for helping us understand some of the nuanced aspects of this HF. To install/upgrade your nodes, clone/pull master at https://github.com/softwareverde/bitcoin-verde, and reference the README under Installing/Upgrading.
Church Of Monero: Enough is enough - How the leader of the Church tried to fool the community to make look like the Church is organizing the Monero Konferenco and even adding his own Monero address on the flyer (166 points, 268 comments)
[URGENT]Call for translators! - We have two days to submit as many translations as possible for the next release of the GUI wallet! We need your help! (123 points, 46 comments)
Monero translators, we need you to make one final sprint! The code freeze is imminent. (112 points, 15 comments)
I tell a lot of people about Monero who don't know anything about crypto and they instantly get it. They ask me the same thing over and over, so why do people still use Bitcoin? (127 points, 119 comments)
How trustyworthy is the Cake wallet for iOS? (80 points, 43 comments)
Why don't other coin devs like talking about fungibility? They seem to shrug it off even though it's a necessary component to being a currency. (77 points, 85 comments)
MINING A CRYPTO CURRENCY
The mining activity consist in calling a mathematical procedure we can’t predict the result before we run it. But we intend to obtain a very specific result, which usually consist in a certain number of 0 as the first chars before any random answer. If we found the nonce (a random object) combined with the transaction data and the coin algorithm that produce such result, we’ll have solve a transaction block and we’ll get a reward for that. Thanks to this work, the transaction listed in the block will be added to the blockchain and anyone will be able to check our work. That’s the concept of ‘proof of work’ allowing anyone to replay the mathematical procedure with the nonce discovered by the node that solved the block and to confirm block inclusion into the blockchain.
POLITICAL AND ETHICAL CONSIDERATIONS
The Tera project is young. It will have to face the same problems is facing today the Bitcoin platform :
a large amount of accounts used to get money back from credulous people (e-intrusion, mail threats, etc.)
a large amount of accounts used for illegal commercial activities (drugs, weapons, etc.)
attacks to make the blockchain platform down or to corrupt the blockchain datas
too many financial speculation that result in a coin value that has no sense.
Any Crypto Currency Project with the goal its money and contracts to be used as any other historical money or service contract has to consider its political and ethical usage. Processes have to be imagined, designed and implemented in order to be able to fight against extortion, corruption and illegal activities threating crypto-currency development.
Tera is entirely written in Java) over the NodeJS library as functional layer in order to take advantages of a robust and high level library designed to allow large and effective network node management. The miner part is imported from an external repository and is written in C in order to get the best performances for this module. Tera is actually officially supported on Linux and Windows. If you start mining Tera thanks to this article, you can add my account 188131 as advisor to yours. On simple demand I’ll refund you half of the extra coins generated for advisors when you’ll solve blocks (@freddy#8516 on discord).
Mining Tera has one major design constraint : you need one public IP per Tera node or miner. Yet, you can easily mine it on a computer desktop at home. The mining algorithm has been designed in order to be GPU resistant. In order to mine Tera coin you’ll need a multi-core processor (2 minimum) and some RAM, between 1 and 4GB per process that will mine. The mining reward level depends of the « power » used to solve a block (Top Tera Miners).
COST AND USAGE CONSIDERATIONS
There is two main cost centers in order to mine a crypto currency :
the cost of the hardware and the energy required to make a huge amount of mathematical operations connected to the blockchain network through the Internet,
the human cost in order to deploy, maintain and keep running miners and blockchain nodes.
Question: the 3 days of devcon are over. Are people interested in reports on the next 3 days of international Blockchain week (demo day + 2 days of global Blockchain summit) http://www.blockchainweek2016.org `
The buzz during the day was around the "stick puzzle" that Bok Khoo was giving out to people. It is just a stick, with a loop of string. He gets you to turn away, he uses "the trick" to put it onto your bag and then you try to get it off. The WeChat channel was just filled with everyone asking where they can get it, and the screaming that they can't figure it out. Only about 5 people reported they were able to solve it (I haven't yet) http://imgur.com/mYfJQP4http://imgur.com/4Euka1a `
I'm biased, but I thought the announcement from Microsoft with the update of cryptlets was a big deal. The morning sessions covered a few different oracle systems, the afternoon had lots of IPFS sessions. Microsoft - A Lap around Cryptlets https://azure.microsoft.com/en-us/blog/cryptletsdd/https://azure.microsoft.com/en-us/documentation/templates/ethereum-consortium-blockchain-network/https://azure.microsoft.com/en-us/blog/authomarleyg Microsoft was a sponsor of Devcon1 & 2 Ethereum is a 1st class citizen Support for community & partners - Bizspark, Meetups, Workshops Announcing: Bletchley v1 Distributed Ledger stack V1 is a private Ethrerum consortium, that you can spin up for your own enterprise / group http://imgur.com/olwwd36 Cryptlets are being developed to help with security, identity, etc. How do you get trusted external data feeds injected into the Blockchain? Doing things on a specific interval (every 15 mins) When price of something hits a threshold (oil goes above $40/barrel) Secure IP protected algorithms, but still share with blockchain network. Use libraries for common platforms (.Net, Java, etc) Cryptlets vs Oracle Cryptlets will have a marketplace on Azure that will allow you to purchase and utilise Use case: Trigger on an event Wake up on 4pm, if market was open that day, then give me the price of gold for that day.Get signature of attested server, attested sender. Use case: Control Using smart contract like a traditional DB. Declare data you are keeping track of, and the functions/"stored proc" to update that data. Cryptlet runs off chain, and can be scaled up. http://imgur.com/ysgL8S2 Utility cryptlet. Use an attribute in solidity contract with cryptlet details Developer references at design time the cryptlet they want the contract to call Contract cryptlet, deploy the cryptlet at same time as contract. Why would you want Azure to do this? SGX allows you to create "secure enclaves", can have complete isolation on the hardware chip where it is not modifable. Provides a secure enclave at the CPU level. Can give full attestation right down to the silicon. Will be provided as a enclave container on Azure. Will be released for .NET core CLR first, then other languages. Can create cryptlet libraries that you can scale and put into the Azure marketplace. An ecosystem for developers & ISVs to consume and publish. Bletchley v1 released today will let you spin up a private consortium. Before today, it took a long time to try and deploy a private consortium (can take weeks to read doco, Now takes 5 minutes to deploy! Creates a private consortium, puts each member in its own separate subnet http://imgur.com/w4yUsqE Mist Vision and Demo I was too busy sharing the release posts of Microsoft project bletchey v1, missed this talk. It did look interesting, I will watch this one later. Idea: Reward for bandwidth. Providing connection could replace mining as entrance point for desktop computers. Allow you to have a trickle so you can trigger smart contracts. Standardised backends, so that you can swap out the underlying node between geth, blockapps, etc. Web3.js https://github.com/ethereum/web3.js Etehereum JS API Smart conracts are EVM opcodes, Helps translates calls to JSON RPC calls. Helps do the ABI encoding when sending data from JS to EVM It kept on growing, many different utility functions being thrown in. Is time to clean it up and be refactored. They are now building a NEW web3.js The communication will be socket based, will enable subscriptions. Everything will be based on promises to subscribe to events, like log events. Bunch of other newer cleaner methods and ways to do things like deploying contracts. Smart contract security Was a very good postmorteum of The DAO and things that could be done to mitigate it in the future. An issue with The DAO was trying to do a massive jump from centralisation all the way to full decentralisation. Meant no one could step up and make a decision on how to save it. We need to make smaller steps towards full decentralisation as we learn as a community how to do this. Same security patterns as yesterday's talks: check invarients, beware 1024 call stack depth, reentry exploit (update state BEFORE executing calls), timestamps are manipulatable. Updateable contracts. Who can update it? Community multisig? We need better rools: formal verification, compiler warnings, improved IDEs, trusted libraries, excape hatches Conclusion: It is still very early days in this space, be careful. A Provably Honest Oracle Model: Auditable Offchain Data Gathering & Computations Oracalize is the most widely used oracle (until everyone starts using Microsoft Azure cryptlets ;-) ) Contract calls Oracalize contract with the data they want, off chain they see this get the data, Oracalise then trigger their contract externally, which does a callback to your contract with the data. Can use external notary servers. Can get proof from multiple external services to get a higher level of confidence about data (e.g. stock price from a few feeds). Off-chain (auditable_ computation) AWS sandbox 2.0. Put the execution package onto IPFS, AWS gets it and executes it, signs it. iEx.ec: Fully Distributed Cloud Thanks to the Ethereum Blockchain http://iex.ec/ Provides blockchain based execution environments Global market for computing resources. Idea is to do what we did before with "grid computing" use the idle capacity of computers. But this time do a trickle of micropayments. Allows people to harness this global power to execute their tasks in a global "distributed cloud". The Final frontier: The company smart conract http://otonomos.com/ Helping companies to incorporate on the blockchain. Smart oracles https://github.com/smartoracles Connecting to external resources is difficult. Hard to try and use external currencies (like a bank account / fiat money) to make transactions. Could hook in paypal, HSBC, wells fargo, etc. Can provide your own payment services as an API to a smart oracle for smart contracts to consume. Do off chain data storage by calling smart oracle API Roadmap: more data sources & more payment methods IPFS & Ethereum: Updates https://Ipfs.io IPFS is AMAZING, seriously go watch the full 1 hour talks Juan has given in previous years. Current web has current issues. Centralisation, etc. IPFS is a new hypermedia transfer protocol Content can be retrieved not from specific servers, but instead via it's hash so that it can come from anywhere in the network (maybe from the person next to you who has cached it). It is highly modular, all of the transfer protocals, routing, naming, etc. are all swapable Is available as GO-IPFS & now JS-IPFS Means now you can run IPFS in the browser IPFS was great for static content, but not so great for dynamic content. Low latency pub/sub protocol will help with dynamic data. Created a distributed peer to peer chat app using this new dynamic content protocol. IPLD a common link-tree hash format Will be able to use IPFS to retrieve ethereum blockchain blocks DIRECTLY Can use IPFS as a package manager to retrieve them in a distributed manner. Many projects are using Ethereum & IPFS Uport, Digix, Infura, Ujo, Eris, Blockfreight. Filecoin was created as a way to try and incentivize nodes to keep files longer time. People rent out hdd space to earn filecoin. Exchange bitcoin/filecoin. Use filecoin to store files in network. Filecoin is going to be built on top of the public Ethereum blockchain, as a virtual blockchain / token. IPFS Libp2p & Ethereum networking Network connectivity between any 2 nodes can be difficult. Censorship, bandwidth, network issues, etc. Having to deal with different networking topologies and access. Libp2p & Devp2p is different. Devp2p is for Ethereum. LIbp2p is modular, can swap out components to change network access, encryption methods, etc. Can build up a MEGA mesh network, by utilising traditional wired internet, radio, bluetooth between some nodes. Web browser using web socket, to a node, which routes across network, to zigbee to a IoT device. Libp2p & Devp2p could merge and augment each other. Could create the libp2p components to replace the devp2p bits Any 2 nodes that speak the same protocol can communicate and be a part of the network chain. Experiment. They took the browser based version of EVM. Then used Libp2p to talk to the Ethereum network. Had a complete ethereum node running in a browser. Uport https://uport.me/ Universal identity platform Current challenges: key management. Ux for average person. Dapps via mobile. Identity and data ownership. How do you keep a consistent identity, even if you lose a key. Have some multisig contracts that you can use to keep track. Social recovery, use your friends to attest it is really you. Keep private key on mobile, do transactions on the desktop, scan a QR code to sign the transaction on your phone and send it off. A Deep Dive into the Colony Foundation Protocol It is an open source governance protocol built on Ethereum Problem with voting is how to prevent Sybil attacks. Votes are weighted by a reputation score. Reputation is non-transferable that can only be earned. Total weighted voting helps mitigate this. Chain orchestration tooling & smart contract package management Eris is tooling for developers. Package manager to build your own blockchain. Can compose a chain, e.g. geth + tendermint consensus. Init, install, do. Can easily install on Mac/bew, linux/apt-get, Windows/choco The Golem Project: Ethereum-based market for computing power http://www.golemproject.net/ Anyone can make an offer to sell computing power. e.g. Distributed rendering Want to create a standard framework that anyone can use to submit and process jobs. Status: Integrating Ethereum Into Our Daily Lives https://status.im Want to get ethereum everywhere. "Mist for Mobile" Everyone is using their mobile phones for everything, but mostly using instant messaging. What would Ethereum in a IM window look? Created a IM mobile app that has a local geth node. tart up, it asks you to create a password, it generates a pub/private pair. Then can send messages via whisper, and the messages are signed with your public key. Can load Dapps up in the local webview and interact with them. Allows you to create "chat Dapps", that you interact with via text. Like chatbots Maker Ecosystem Overview www.Makerdao.com Dai: seeking stability on blockchain. Stablecoin engine: smart contract that holds collateral reserves and controls the Dai lifecycle. MKR: open source community managing risk of the system In the last year, investing in a solid technical core. More slow and audit things. Moving into the next phase of stablecoin development. Their latest project is the "Simplecoin project" Meeting Thereum community's need for stability. An independent platform for creating centrally administered simple stablecoins. Issues create their own rule sets: Collateral types, participant whitelists, security parameters. Example: Shrutebucks. The only people who own it are Dwight, Jim & Pam. They backed it with 1/3 ETH 1/3 DGX 1/3 DUSD. Orbit. A distributed peer to peer app on IPFS https://github.com/haadcode Created a full distributed chat room, itself distributed through IPFS. It is integrated with uPort for identification Using uPort allows you to verify that you are talking to the correct person in the chat channel. All their messages are signed with their public keys He also created a full distribited twitter clone, using uport for the identity as well. Orbit-db key value store DB that stores its data on IPFS. Eventually consistent Appends data to the DB, an event is sent to those subscribed on pub/sub so they can see the latest root hash. Based on CRDT Ethereum + Pubsub + CRDTs + IPFS = super power primatives to build dynamic distributed apps Development considerations with distributed apps. Need to ensure that apps work offline. No centralised servers. No data silos. Provide integration path. Future work: could you use uPort for ACL like permissions? Mobile use cases, how to make it work nicely on mobiles Building scalable React Dapp architecture https://github.com/SilentCicero/react-dapp-boilerplate React + Ethereum He has a configured boilerplate template. Has contract scaffolding. Enforced contract Linting/testing. Wallet generation/identity. Preconfigured web3 instance. UI: Mature react arhitecture "react boilerplate". Prices listed in USD with ETH/btc via kraken api. A basic multi-contract example Dapp. Offline first, dapp runs without internet. Uses Redux. State models in UI & blockchains work well. PostCSS, CSS Modules, sanitize.cs. Redux, immutableJS, reslect, redux-saga, i18n, redux-router. Web3, ethdeploy, dapple, solium, eth-lightwallet, chaithereum, ethereumjs0-testrpc Enforced contract testing in 2 languages. Ethereum for Enterprise (BlockApps Strato) Trying to make sure that Ethereum stays relevent to enterprise development. Why do you need a blockchain WITHIN an org, shouldn't they trust each other? Well different departments may not, they may reconcile differently, and can help automate/orchestrate between them. Blockchain is the "killer app" for cloud financial services. Legacy infrastructure, batch prossing, etc are all restricting fintech from progressing. Blockchain can happen in real time, can replace legacy. Ethereum is very flexible and programmable, works well. There are others based on Bitcoin (like Hyperledger). Ethereum + Blockapps = Extreme productivity + Proven Technology. Blockapps is extending Ethereum for Enterprise. Runs very well on Azure Enterprises don't want all their data exposed on public chain. Blockapps helps solve data privacy and scaling with multichain fabrics.
Bitcoin mining is the process of creating new bitcoin by solving a computational puzzle. Bitcoin mining is necessary to maintain the ledger of transactions upon which bitcoin is based. Bitcoin mining is done by specialized computers. The role of miners is to secure the network and to process every Bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin’s famous “blockchain”).. For this service, miners are rewarded with newly-created Bitcoins and transaction fees. 4. Bitcoin Mining Pools. Mining is an extremely competitive game. Even if you buy the best possible miner out there, you’re still at a huge disadvantage compared to professional Bitcoin mining farms.That’s why mining pools came into existence.. The idea is simple – miners group together to form a “pool” so they can combine their mining power and compete more effectively. How Bitcoin Mining Works. Before you start mining Bitcoin, it's useful to understand what Bitcoin mining really means. Bitcoin mining is legal and is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team.
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