Working with micropayment channels - bitcoinj.org

How Codugh plans to onboard Bitcoin API devs with micropayments

submitted by n4bb to CoinPath [link] [comments]

Introduction to setting up a bitcoin-payable API server for micropayments

Introduction to setting up a bitcoin-payable API server for micropayments submitted by Jeriaska_ to 21dotco [link] [comments]

What's Happening At Dash? | Continually Updated News & Announcements Thread

Welcome to dashpay!
If you are new to Dash, we encourage you to check out our wiki, where the Dash project is explained from the ground up with many links to valuable information resources. Also check out the menu bar on top and the sidebar to the right. We have very active Discord and Telegram channels where the community is happy to answer any and all newcomer questions.

Purpose of this post

This post is directed towards community members who wish to rapidly access information on current developments surrounding the Dash cryptocurrency.
Lately we've noticed how the pace of events picked up significantly within the Dash project due to many years of hard work coming together and pieces falling into place ("Evolution" is finally here. It's called Dash Platform). For the purpose of keeping these many pieces of information together, however, singular Reddit submissions are insufficient. Thus we decided to maintain a pinned thread collecting blog posts, interviews, articles, podcasts, videos & announcements. Check back regularly, as this thread will always feature the latest news around Dash, while also serving as a mid-term archive for important announcements and developments.
Journalists looking for news and contact opportunities wrt Dash, please bookmark:

Dash Press Room

"At Dash Press Room you will find the latest press releases, media materials and product updates on Dash - Digital Cash."

Dash Platform Video Series (formerly known as "Evolution") with Amanda B. Johnson

  1. Dash is Becoming a Cloud | Dash Platform #1
  2. What is Dash Drive? | Dash Platform #2
  3. What is Dash's Decentralized API? (DAPI) | Dash Platform #3
  4. Usernames & Dash Platform Name Service (DPNS) | Dash Platform #4

Dash Core Group News

(last updated: Oct 9th, 2020)

Dash Insights with Mark Mason & Dash Talk with Amanda B. Johnson

(last updated: Oct 9th, 2020)

Development news

(last updated: Oct 9th, 2020)

Adoption, Partnership, Business Development, General News

(last updated: Oct 3rd, 2020)
submitted by Basilpop to dashpay [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Also have to give mention to Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?

Bitcoin.org, BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex Cex.io LibertyX
Cex.io CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
itBit
HitBTC
Bitit
Bisq (decentralized)
Luno
Spectrocoin
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Samouari BreadWallet Electrum
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Hyphen.to, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Streamium.io, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

Your guide to NYZO

NYZO is the highly efficient Proof-of-Diversity (PoD) blockchain for everyday spending.
NYZO has been developed from the ground up, it is an open-source initiative and isn't a copy of any existing blockchain project.
The network has been running for more then one year now and the source code can be found on GitHub. The NYZO codebase is going to start acting as an API server. This will be run-mode dependent, just like the various web server functions that are available now. It will interact with the mesh on one side and whatever it needs to interact with on the other side.
Developers update NYZO all the time with fixes and performance and stability improvements. Every update which has been created for the network so far has been accompanied by a release note, a detailed document detailing every change to the network to make it better.
We can find these release notes on the website of the developers: What's new? - as you can see, the network has been worked on on a regular basis and each release note is multiple pages long - developers are dedicated to making this a success and this is their testament.
Whitepaper 
Proof-of-Diversity (PoD) consensus mechanism requires active participation in the form of time and verifier behaviour in the blockchain to be allowed to exert a certain influence on the system as a whole. The Proof-of-Diversity blockchain uses verification cycles to establish the authoritative form of the blockchain. The basic concept of proof-of-diversity is simple. Verifiers take turns producing blocks in a circular order. Some simple rules ensure that verifiers are neither added to nor removed from that circular order too quickly. In order to produce a believable forgery of the blockchain for any meaningful amount of time, an attacker would need to obtain more than half of the private keys of verifiers currently working on the blockchain. The design and technology are simple and clearly explained in NYZO whitepaper. This document was created in the very beginning and it might not cover all aspects as it should, the release notes make up for this.
Still too lazy and didn't read NYZO whitepaper? Relax, and listen to the soothing audio version.
Verifier 
Mesh (cycle) participants are called verifiers. Verifiers are in charge of verifying transactions and producing blocks. In exchange for securing the network, verifiers collect transaction fees which are distributed fairly among all of them. Each verifier gets a chance to verify one block in one mesh cycle. NYZO don't need mining equipment and large amounts of processing power like others, only unique IP address and always on Linux VPS is required.
Sentinel 
The purpose of the NYZO Sentinel is to provide improve stability of the cycle by producing blocks for in-cycle verifiers that are unable to produce blocks due to temporary hardware and network issues. The Sentinel should not be run on an instance that is running the verifier. The NYZO sentinel is a seperate version of the nyzoVerifier designed to protect your in-cycle verifiers. Its job is to constantly check up on your verifiers. If one of them is unresponsive, the sentinel will initiate communication on behalf of the verifier, this all to ensure future cycle inclusion.
The Mesh (cycle) 
is simply a network of computers known as verifiers all running NYZO and communicating information to each other. The Mesh (cycle) is a central point of PoD system. For securing the Mesh these computers are given 10% reward of transaction fees for each block they secure.
Check your NYZO verifier status, search for your nickname or IP
Newcomers can sometimes get confused with how Nyzo verifier lifecycle works in practice or how to join the cycle.
Block files 
One part of the consensus algorithm is the block consolidation process which ensures that a small machine such as a Rock64 Pro or a beefy Raspberry Pi can run a NYZO verifier with little storage space. 1000 blocks are consolidated into 500 Kb of storage space. Very efficient.
51% attack resistance and energy efficiency 
NYZO has a properly designed economic model that relies on time. Therefore, the cost for 51% attacks (relative to market cap) is huge, there is ongoing incentive to participate in the network, and attacks based on computing power (PoW) or ownership of token (PoS) aren't feasible. NYZO uses only a tiny fraction of Bitcoin’s resources while performing the same tasks. 58 000 000 000 kwH - 58 TWh : current BTC power cons. per year vs 36500 kwH - 0.0000365 TWh : current NYZO power cons. per year = 1,589,041 times more efficient and 51% attack resistant.
Roadmap 
NYZO developers have been asked many times for a roadmap. The roadmap is to keep making the code more stable, more robust, and more efficient.
Nyzo development: 15 months of hard work (and beyond)
Scalability 
NYZO doesn’t require any Layer 2 scaling solutions and is able to handle high transaction volumes per second which is only dependent on the performance of the verifiers in the mesh. The block time is 7 seconds and block size is 28 Kb.
Micropay is a lightweight way of using NYZO that shifts as much burden as possible to the person receiving the payment to make it as easy as possible for someone to send small payments. Next step is an API server for Micropay.
Useful guides and articles 
2k verifiers/nodes are in the cycle and 24k verifiers are patiently waiting to join the mesh/cycle. Following video tutorials will explain in detail how to set up your own NYZO mesh verifier node. For more information about set up visit Nyzo DISCORD.
VIDEO TUTORIAL - How to setup a NYZO verifier and sentinel on a VPS - video tutorial from Refortuna Analytics
VIDEO TUTORIAL - How to set up a Nyzo Verifier on Hetzner - from community website Nyzo.io
Nyzo review and guide how to set up verifier - very detailed review and guide by MyAltcoins.info
Nyzo - Time and diversity as a currency (+ 4 translations here) This article goes into detail about the consensus algorithm and its benefits, it sketches a hypothetical attack scenario and the cost of an attack at this point in time (while the market cap is still low).
Arguments against early entrants This article goes into detail about the early stages of the project, what has happened, how certain events have unfolded and the diversity of the project, it creates a parallel between Bitcoin and NYZO to cover an important aspect of the network in detail.
Time An article going deeper into the time aspect of the network, written by a community member
Ethereum An article comparing NYZO’s consensus algorithm to the development state of Ethereum, written by the same user as the article above.
Bitcoin Yet again an article comparing NYZO, this time with Bitcoin.
Proof of Diversity - A novel solution for limitless blockchain scalability | Micky.com.au
Thoughts on Tor and Nyzo
Developer fund 
The initial developer fund plan can be found here, this has been followed up and the details have changed. The developers effectively own 0.6% of the total supply. So far around 11 million has been “mined” and the remainder is spendable by the network through governed voting, with a minimum amount of votes required for NYZO to be released (51% of the network needs to agree).
IMPORTANT LINKS: 
Official website
Nyzo mobile wallet for Android phones on Google Play - Multilingual support (EN, DE, CN, ES, FR, RU, NL, HR) - developed by ThreeDots Technologies
Nyzo key tool and Web wallet
Nyzo Space - Paper wallet - developed by Angainor Dev
Nyzo DISCORD - There are currently 1600 active members and developers in the discord group with multiple joining every day. Most of the community communicates here. Here is where you’re guaranteed to have a one-on-one with the developers.
GitHub
New Community Forum website (You can get here lots of useful information. If you are ready to build for Nyzo and get paid, please read this article... Nyzo and its protocol which facilitates building)
Chinese Community website NYZO社区
Nyzo Twitter
Nyzo Gang Twitter
Facebook
Telegram
Instagram
Tumblr
Reddit
Bitcointalk
Weibo
QQ: 1007477423
Zedge
NYZO wallpapers for desktop and mobile devices
Trading: 
qTrade
BILAXY
Hotbit
QBTC
Citex
BiHodl


https://preview.redd.it/brh7hm2n6m241.png?width=2560&format=png&auto=webp&s=8d8b45235fcc34200bcad5603249ae49a89c2612
submitted by Mobilenewsflash to CryptoMoonShots [link] [comments]

What is NYZO?

What is NYZO?
NYZO is a highly efficient Proof-of-Diversity (PoD) blockchain for everyday spending.
NYZO has been developed from the ground up, it is an open-source initiative and isn't a copy of any existing blockchain project.
The network has been running for more than one year now and the source code can be found on GitHub. The NYZO codebase is going to start acting as an API server. This will be run-mode dependent, just like the various web server functions that are available now. It will interact with the mesh on one side and whatever it needs to interact with on the other side.
Developers update NYZO all the time with fixes and performance and stability improvements. Every update which has been created for the network so far has been accompanied by a release note, a detailed document detailing every change to the network to make it better.
We can find these release notes on the website of the developers: What's new? - as you can see, the network has been worked on a regular basis and each release note is multiple pages long - developers are dedicated to making this a success and this is their testament.
Whitepaper 
Proof-of-Diversity (PoD) consensus mechanism requires active participation in the form of time and verifier behavior in the blockchain to be allowed to exert a certain influence on the system as a whole. The Proof-of-Diversity blockchain uses verification cycles to establish the authoritative form of the blockchain. The basic concept of proof-of-diversity is simple. Verifiers take turns producing blocks in a circular order. Some simple rules ensure that verifiers are neither added to nor removed from that circular order too quickly. In order to produce a believable forgery of the blockchain for any meaningful amount of time, an attacker would need to obtain more than half of the private keys of verifiers currently working on the blockchain. The design and technology are simple and clearly explained in NYZO whitepaper. This document was created in the very beginning and it might not cover all aspects as it should, the release notes make up for this.
Still too lazy and didn't read NYZO whitepaper? Relax, and listen to the soothing audio version.
Verifier 
Mesh (cycle) participants are called verifiers. Verifiers are in charge of verifying transactions and producing blocks. In exchange for securing the network, verifiers collect transaction fees which are distributed fairly among all of them. Each verifier gets a chance to verify one block in one mesh cycle. NYZO don't need mining equipment and large amounts of processing power like others, only unique IP address and always-on Linux VPS is required.
Sentinel 
The purpose of the NYZO Sentinel is to provide improved stability of the cycle by producing blocks for in-cycle verifiers that are unable to produce blocks due to temporary hardware and network issues. The Sentinel should not be run on an instance that is running the verifier. The NYZO sentinel is a separate version of the nyzoVerifier designed to protect your in-cycle verifiers. Its job is to constantly check up on your verifiers. If one of them is unresponsive, the sentinel will initiate communication on behalf of the verifier, this all to ensure future cycle inclusion.
The Mesh (cycle) 
is simply a network of computers known as verifiers all running NYZO and communicating information to each other. The Mesh (cycle) is a central point of PoD system. For securing the Mesh these computers are given a 10% reward of transaction fees for each block they secure.
Check your NYZO verifier status, search for your nickname or IP
Newcomers can sometimes get confused with how Nyzo verifier lifecycle works in practice or how to join the cycle.
Block files 
One part of the consensus algorithm is the block consolidation process which ensures that a small machine such as a Rock64 Pro or a beefy Raspberry Pi can run a NYZO verifier with little storage space. 1000 blocks are consolidated into 500 Kb of storage space. Very efficient.
51% attack resistance and energy efficiency 
NYZO has a properly designed economic model that relies on time. Therefore, the cost for 51% attacks (relative to market cap) is huge, there is ongoing incentive to participate in the network, and attacks based on computing power (PoW) or ownership of token (PoS) aren't feasible. NYZO uses only a tiny fraction of Bitcoin’s resources while performing the same tasks. 58 000 000 000 kWh - 58 TWh : current BTC power cons. per year vs 36500 kWh - 0.0000365 TWh : current NYZO power cons. per year = 1,589,041 times more efficient and 51% attack resistant.
Roadmap 
NYZO developers have been asked many times for a roadmap. The roadmap is to keep making the code more stable, more robust, and more efficient.
Nyzo development: 15 months of hard work (and beyond)
Scalability 
NYZO doesn’t require any Layer 2 scaling solutions and is able to handle high transaction volumes per second which is only dependent on the performance of the verifiers in the mesh. The block time is 7 seconds and block size is 28 Kb.
Micropay is a lightweight way of using NYZO that shifts as much burden as possible to the person receiving the payment to make it as easy as possible for someone to send small payments. Next step is an API server for Micropay.
Useful guides and articles 
2k verifiers/nodes are in the cycle and 24k verifiers are patiently waiting to join the mesh/cycle. The following video tutorials will explain in detail how to set up your own NYZO mesh verifier node. For more information about setting up please visit Nyzo DISCORD.
VIDEO TUTORIAL - How to setup a NYZO verifier and sentinel on a VPS - video tutorial from Refortuna Analytics
VIDEO TUTORIAL - How to set up a Nyzo Verifier on Hetzner - from community website Nyzo.io
Nyzo review and guide how to set up verifier - very detailed review and guide by MyAltcoins.info
Nyzo - Time and diversity as a currency (+ 4 translations here) This article goes into detail about the consensus algorithm and its benefits, it sketches a hypothetical attack scenario and the cost of an attack at this point in time (while the market cap is still low).
Arguments against early entrants This article goes into detail about the early stages of the project, what has happened, how certain events have unfolded and the diversity of the project, it creates a parallel between Bitcoin and NYZO to cover an important aspect of the network in detail.
Time An article going deeper into the time aspect of the network, written by a community member
Ethereum An article comparing NYZO’s consensus algorithm to the development state of Ethereum, written by the same user as the article above.
Bitcoin Yet again an article comparing NYZO, this time with Bitcoin.
Proof of Diversity - A novel solution for limitless blockchain scalability | Micky.com.au
Thoughts on Tor and Nyzo
Developer fund 
The initial developer fund plan can be found here, this has been followed up and the details have changed. The developers effectively own 0.6% of the total supply. So far around 11 million has been “mined” and the remainder is spendable by the network through governed voting, with a minimum amount of votes required for NYZO to be released (51% of the network needs to agree).
IMPORTANT LINKS: 
Official website
Nyzo.net
Nyzo.today
Nyzo.io
Nyzo mobile wallet for Android phones on Google Play - Multilingual support (EN, DE, CN, ES, FR, RU, NL, HR) - developed by ThreeDots Technologies
Nyzo key tool and Web wallet
Nyzo Space - Paper wallet - developed by Angainor Dev
Nyzo DISCORD - There are currently 1600 active members and developers in the discord group with multiple joining every day. Most of the community communicates here. Here is where you’re guaranteed to have a one-on-one with the developers.
GitHub
New Community Forum website (You can get here lots of useful information. If you are ready to build for Nyzo and get paid, please read this article... Nyzo and its protocol which facilitates building)
Chinese Community website NYZO社区
Nyzo Twitter
Nyzo Gang Twitter
Facebook
Telegram
Instagram
Tumblr
Reddit
Bitcointalk
Weibo
QQ: 1007477423
WeChat: Nyzo
Zedge
NYZO wallpapers for desktop and mobile devices
Trading: 
qTrade
BILAXY
HOTBIT
QBTC
Citex
BiHodl

https://preview.redd.it/brh7hm2n6m241.png?width=2560&format=png&auto=webp&s=8d8b45235fcc34200bcad5603249ae49a89c2612
submitted by Mobilenewsflash to Nyzo [link] [comments]

⚡ Lightning Network Megathread ⚡

Last updated 2018-01-29
This post is a collaboration with the Bitcoin community to create a one-stop source for Lightning Network information.
There are still questions in the FAQ that are unanswered, if you know the answer and can provide a source please do so!

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

  • starkbot - (Elizabeth Stark - Lightning Labs)
  • roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • stile65 - (Alex Akselrod - Lightning Labs)
  • cfromknecht - (Conner Fromknecht - Lightning Labs)
  • RustyReddit - (Rusty Russell - Blockstream)
  • cdecker - (Christian Decker - Blockstream)
  • Dryja - (Tadge Dryja - Digital Currency Initiative)
  • josephpoon - (Joseph Poon)
  • fdrn - (Fabrice Drouin - ACINQ )
  • pmpadiou - (Pierre-Marie Padiou - ACINQ)

Lightning Network Experts on Twitter

  • @starkness - (Elizabeth Stark - Lightning Labs)
  • @roasbeef - (Olaoluwa Osuntokun - Lightning Labs)
  • @stile65 - (Alex Akselrod - Lightning Labs)
  • @bitconner - (Conner Fromknecht - Lightning Labs)
  • @johanth - (Johan Halseth - Lightning Labs)
  • @bvu - (Bryan Vu - Lightning Labs)
  • @rusty_twit - (Rusty Russell - Blockstream)
  • @snyke - (Christian Decker - Blockstream)
  • @JackMallers - (Jack Mallers - Zap)
  • @tdryja - (Tadge Dryja - Digital Currency Initiative)
  • @jcp - (Joseph Poon)
  • @alexbosworth - (Alex Bosworth - yalls.org)

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

  • ZigZag - Disclaimer You must trust ZigZag to send to Target Address

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

  • LND - Lightning Network Daemon (Golang)
  • eclair - A Scala implementation of the Lightning Network (Scala)
  • c-lightning - A Lightning Network implementation in C
  • lit - Lightning Network node software (Golang)
  • lightning-onion - Onion Routed Micropayments for the Lightning Network (Golang)
  • lightning-integration - Lightning Integration Testing Framework
  • ptarmigan - C++ BOLT-Compliant Lightning Network Implementation [Incomplete]

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

If you can answer please PM me and include source if possible. Feel free to help keep these answers up to date and as brief but correct as possible
Is Lightning Bitcoin?
Yes. You pick a peer and after some setup, create a bitcoin transaction to fund the lightning channel; it’ll then take another transaction to close it and release your funds. You and your peer always hold a bitcoin transaction to get your funds whenever you want: just broadcast to the blockchain like normal. In other words, you and your peer create a shared account, and then use Lightning to securely negotiate who gets how much from that shared account, without waiting for the bitcoin blockchain.
Is the Lightning Network open source?
Yes, Lightning is open source. Anyone can review the code (in the same way as the bitcoin code)
Who owns and controls the Lightning Network?
Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code is open source and free for anyone to download and review. Anyone can run a node and be part of the network.
I’ve heard that Lightning transactions are happening “off-chain”…Does that mean that my bitcoin will be removed from the blockchain?
No, your bitcoin will never leave the blockchain. Instead your bitcoin will be held in a multi-signature address as long as your channel stays open. When the channel is closed; the final transaction will be added to the blockchain. “Off-chain” is not a perfect term, but it is used due to the fact that the transfer of ownership is no longer reflected on the blockchain until the channel is closed.
Do I need a constant connection to run a lightning node?
Not necessarily,
Example: A and B have a channel. 1 BTC each. A sends B 0.5 BTC. B sends back 0.25 BTC. Balance should be A = 0.75, B = 1.25. If A gets disconnected, B can publish the first Tx where the balance was A = 0.5 and B = 1.5. If the node B does in fact attempt to cheat by publishing an old state (such as the A=0.5 and B=1.5 state), this cheat can then be detected on-chain and used to steal the cheaters funds, i.e., A can see the closing transaction, notice it's an old one and grab all funds in the channel (A=2, B=0). The time that A has in order to react to the cheating counterparty is given by the CheckLockTimeVerify (CLTV) in the cheating transaction, which is adjustable. So if A foresees that it'll be able to check in about once every 24 hours it'll require that the CLTV is at least that large, if it's once a week then that's fine too. You definitely do not need to be online and watching the chain 24/7, just make sure to check in once in a while before the CLTV expires. Alternatively you can outsource the watch duties, in order to keep the CLTV timeouts low. This can be achieved both with trusted third parties or untrusted ones (watchtowers). In the case of a unilateral close, e.g., you just go offline and never come back, the other endpoint will have to wait for that timeout to expire to get its funds back. So peers might not accept channels with extremely high CLTV timeouts. -- Source
What Are Lightning’s Advantages?
Tiny payments are possible: since fees are proportional to the payment amount, you can pay a fraction of a cent; accounting is even done in thousandths of a satoshi. Payments are settled instantly: the money is sent in the time it takes to cross the network to your destination and back, typically a fraction of a second.
Does Lightning require Segregated Witness?
Yes, but not in theory. You could make a poorer lightning network without it, which has higher risks when establishing channels (you might have to wait a month if things go wrong!), has limited channel lifetime, longer minimum payment expiry times on each hop, is less efficient and has less robust outsourcing. The entire spec as written today assumes segregated witness, as it solves all these problems.
Can I Send Funds From Lightning to a Normal Bitcoin Address?
No, for now. For the first version of the protocol, if you wanted to send a normal bitcoin transaction using your channel, you have to close it, send the funds, then reopen the channel (3 transactions). In future versions, you and your peer would agree to spend out of your lightning channel funds just like a normal bitcoin payment, allowing you to use your lightning wallet like a normal bitcoin wallet.
Can I Make Money Running a Lightning Node?
Not really. Anyone can set up a node, and so it’s a race to the bottom on fees. In practice, we may see the network use a nominal fee and not change very much, which only provides an incremental incentive to route on a node you’re going to use yourself, and not enough to run one merely for fees. Having clients use criteria other than fees (e.g. randomness, diversity) in route selection will also help this.
What is the release date for Lightning on Mainnet?
Lightning is already being tested on the Mainnet Twitter Link but as for a specific date, Jameson Lopp says it best
Would there be any KYC/AML issues with certain nodes?
Nope, because there is no custody ever involved. It's just like forwarding packets. -- Source
What is the delay time for the recipient of a transaction receiving confirmation?
Furthermore, the Lightning Network scales not with the transaction throughput of the underlying blockchain, but with modern data processing and latency limits - payments can be made nearly as quickly as packets can be sent. -- Source
How does the lightning network prevent centralization?
Bitcoin Stack Exchange Answer
What are Channel Factories and how do they work?
Bitcoin Stack Exchange Answer
How does the Lightning network work in simple terms?
Bitcoin Stack Exchange Answer
How are paths found in Lightning Network?
Bitcoin Stack Exchange Answer
How would the lightning network work between exchanges?
Each exchange will get to decide and need to implement the software into their system, but some ideas have been outlined here: Google Doc - Lightning Exchanges
Note that by virtue of the usual benefits of cost-less, instantaneous transactions, lightning will make arbitrage between exchanges much more efficient and thus lead to consistent pricing across exchange that adopt it. -- Source
How do lightning nodes find other lightning nodes?
Stack Exchange Answer
Does every user need to store the state of the complete Lightning Network?
According to Rusty's calculations we should be able to store 1 million nodes in about 100 MB, so that should work even for mobile phones. Beyond that we have some proposals ready to lighten the load on endpoints, but we'll cross that bridge when we get there. -- Source
Would I need to download the complete state every time I open the App and make a payment?
No you'd remember the information from the last time you started the app and only sync the differences. This is not yet implemented, but it shouldn't be too hard to get a preliminary protocol working if that turns out to be a problem. -- Source
What needs to happen for the Lightning Network to be deployed and what can I do as a user to help?
Lightning is based on participants in the network running lightning node software that enables them to interact with other nodes. This does not require being a full bitcoin node, but you will have to run "lnd", "eclair", or one of the other node softwares listed above.
All lightning wallets have node software integrated into them, because that is necessary to create payment channels and conduct payments on the network, but you can also intentionally run lnd or similar for public benefit - e.g. you can hold open payment channels or channels with higher volume, than you need for your own transactions. You would be compensated in modest fees by those who transact across your node with multi-hop payments. -- Source
Is there anyway for someone who isn't a developer to meaningfully contribute?
Sure, you can help write up educational material. You can learn and read more about the tech at http://dev.lightning.community/resources. You can test the various desktop and mobile apps out there (Lightning Desktop, Zap, Eclair apps). -- Source
Do I need to be a miner to be a Lightning Network node?
No -- Source
Do I need to run a full Bitcoin node to run a lightning node?
lit doesn't depend on having your own full node -- it automatically connects to full nodes on the network. -- Source
LND uses a light client mode, so it doesn't require a full node. The name of the light client it uses is called neutrino
How does the lightning network stop "Cheating" (Someone broadcasting an old transaction)?
Upon opening a channel, the two endpoints first agree on a reserve value, below which the channel balance may not drop. This is to make sure that both endpoints always have some skin in the game as rustyreddit puts it :-)
For a cheat to become worth it, the opponent has to be absolutely sure that you cannot retaliate against him during the timeout. So he has to make sure you never ever get network connectivity during that time. Having someone else also watching for channel closures and notifying you, or releasing a canned retaliation, makes this even harder for the attacker. This is because if he misjudged you being truly offline you can retaliate by grabbing all of its funds. Spotty connections, DDoS, and similar will not provide the attacker the necessary guarantees to make cheating worthwhile. Any form of uncertainty about your online status acts as a deterrent to the other endpoint. -- Source
How many times would someone need to open and close their lightning channels?
You typically want to have more than one channel open at any given time for redundancy's sake. And we imagine open and close will probably be automated for the most part. In fact we already have a feature in LND called autopilot that can automatically open channels for a user.
Frequency will depend whether the funds are needed on-chain or more useful on LN. -- Source
Will the lightning network reduce BTC Liquidity due to "locking-up" funds in channels?
Stack Exchange Answer
Can the Lightning Network work on any other cryptocurrency? How?
Stack Exchange Answer
When setting up a Lightning Network Node are fees set for the entire node, or each channel when opened?
You don't really set up a "node" in the sense that anyone with more than one channel can automatically be a node and route payments. Fees on LN can be set by the node, and can change dynamically on the network. -- Source
Can Lightning routing fees be changed dynamically, without closing channels?
Yes but it has to be implemented in the Lightning software being used. -- Source
How can you make sure that there will be routes with large enough balances to handle transactions?
You won't have to do anything. With autopilot enabled, it'll automatically open and close channels based on the availability of the network. -- Source
How does the Lightning Network stop flooding nodes (DDoS) with micro transactions? Is this even an issue?
Stack Exchange Answer

Unanswered Questions

How do on-chain fees work when opening and closing channels? Who pays the fee?
How does the Lightning Network work for mobile users?
What are the best practices for securing a lightning node?
What is a lightning "hub"?
How does lightning handle cross chain (Atomic) swaps?

Special Thanks and Notes

  • Many links found from awesome-lightning-network github
  • Everyone who submitted a question or concern!
  • I'm continuing to format for an easier Mobile experience!
submitted by codedaway to Bitcoin [link] [comments]

Your Guide to NYZO

Your Guide to NYZO
NYZO is the highly efficient Proof-of-Diversity (PoD) blockchain for everyday spending.
NYZO has been developed from the ground up, it is an open-source initiative and isn't a copy of any existing blockchain project.
The network has been running for more then one year now and the source code can be found on GitHub. The NYZO codebase is going to start acting as an API server. This will be run-mode dependent, just like the various web server functions that are available now. It will interact with the mesh on one side and whatever it needs to interact with on the other side.
Developers update NYZO all the time with fixes and performance and stability improvements. Every update which has been created for the network so far has been accompanied by a release note, a detailed document detailing every change to the network to make it better.
We can find these release notes on the website of the developers: What's new? - as you can see, the network has been worked on on a regular basis and each release note is multiple pages long - developers are dedicated to making this a success and this is their testament.
Whitepaper 
Proof-of-Diversity (PoD) consensus mechanism requires active participation in the form of time and verifier behaviour in the blockchain to be allowed to exert a certain influence on the system as a whole. The Proof-of-Diversity blockchain uses verification cycles to establish the authoritative form of the blockchain. The basic concept of proof-of-diversity is simple. Verifiers take turns producing blocks in a circular order. Some simple rules ensure that verifiers are neither added to nor removed from that circular order too quickly. In order to produce a believable forgery of the blockchain for any meaningful amount of time, an attacker would need to obtain more than half of the private keys of verifiers currently working on the blockchain. The design and technology are simple and clearly explained in NYZO whitepaper. This document was created in the very beginning and it might not cover all aspects as it should, the release notes make up for this.
Still too lazy and didn't read NYZO whitepaper? Relax, and listen to the soothing audio version.
Verifier 
Mesh (cycle) participants are called verifiers. Verifiers are in charge of verifying transactions and producing blocks. In exchange for securing the network, verifiers collect transaction fees which are distributed fairly among all of them. Each verifier gets a chance to verify one block in one mesh cycle. NYZO don't need mining equipment and large amounts of processing power like others, only unique IP address and always on Linux VPS is required.
Sentinel 
The purpose of the NYZO Sentinel is to provide improve stability of the cycle by producing blocks for in-cycle verifiers that are unable to produce blocks due to temporary hardware and network issues. The Sentinel should not be run on an instance that is running the verifier. The NYZO sentinel is a seperate version of the nyzoVerifier designed to protect your in-cycle verifiers. Its job is to constantly check up on your verifiers. If one of them is unresponsive, the sentinel will initiate communication on behalf of the verifier, this all to ensure future cycle inclusion.
The Mesh (cycle) 
is simply a network of computers known as verifiers all running NYZO and communicating information to each other. The Mesh (cycle) is a central point of PoD system. For securing the Mesh these computers are given 10% reward of transaction fees for each block they secure.
Check your NYZO verifier status, search for your nickname or IP
Newcomers can sometimes get confused with how Nyzo verifier lifecycle works in practice or how to join the cycle.
Block files 
One part of the consensus algorithm is the block consolidation process which ensures that a small machine such as a Rock64 Pro or a beefy Raspberry Pi can run a NYZO verifier with little storage space. 1000 blocks are consolidated into 500 Kb of storage space. Very efficient.
51% attack resistance and energy efficiency 
NYZO has a properly designed economic model that relies on time. Therefore, the cost for 51% attacks (relative to market cap) is huge, there is ongoing incentive to participate in the network, and attacks based on computing power (PoW) or ownership of token (PoS) aren't feasible. NYZO uses only a tiny fraction of Bitcoin’s resources while performing the same tasks. 58 000 000 000 kwH - 58 TWh : current BTC power cons. per year vs 36500 kwH - 0.0000365 TWh : current NYZO power cons. per year = 1,589,041 times more efficient and 51% attack resistant.
Roadmap 
NYZO developers have been asked many times for a roadmap. The roadmap is to keep making the code more stable, more robust, and more efficient.
Nyzo development: 15 months of hard work (and beyond)
Scalability 
NYZO doesn’t require any Layer 2 scaling solutions and is able to handle high transaction volumes per second which is only dependent on the performance of the verifiers in the mesh. The block time is 7 seconds and block size is 28 Kb.
Micropay is a lightweight way of using NYZO that shifts as much burden as possible to the person receiving the payment to make it as easy as possible for someone to send small payments. Next step is an API server for Micropay.
Useful guides and articles 
2k verifiers/nodes are in the cycle and 24k verifiers are patiently waiting to join the mesh/cycle. Following video tutorials will explain in detail how to set up your own NYZO mesh verifier node. For more information about set up visit Nyzo DISCORD.
VIDEO TUTORIAL - How to setup a NYZO verifier and sentinel on a VPS - video tutorial from Refortuna Analytics
VIDEO TUTORIAL - How to set up a Nyzo Verifier on Hetzner - from community website Nyzo.io
Nyzo review and guide how to set up verifier - very detailed review and guide by MyAltcoins.info
Nyzo - Time and diversity as a currency (+ 4 translations here) This article goes into detail about the consensus algorithm and its benefits, it sketches a hypothetical attack scenario and the cost of an attack at this point in time (while the market cap is still low).
Arguments against early entrants This article goes into detail about the early stages of the project, what has happened, how certain events have unfolded and the diversity of the project, it creates a parallel between Bitcoin and NYZO to cover an important aspect of the network in detail.
Time An article going deeper into the time aspect of the network, written by a community member
Ethereum An article comparing NYZO’s consensus algorithm to the development state of Ethereum, written by the same user as the article above.
Bitcoin Yet again an article comparing NYZO, this time with Bitcoin.
Proof of Diversity - A novel solution for limitless blockchain scalability | Micky.com.au
Thoughts on Tor and Nyzo
Developer fund 
The initial developer fund plan can be found here, this has been followed up and the details have changed. The developers effectively own 0.6% of the total supply. So far around 11 million has been “mined” and the remainder is spendable by the network through governed voting, with a minimum amount of votes required for NYZO to be released (51% of the network needs to agree).
IMPORTANT LINKS: 
Official website
Nyzo mobile wallet for Android phones on Google Play - Multilingual support (EN, DE, CN, ES, FR, RU, NL, HR) - developed by ThreeDots Technologies
Nyzo key tool and Web wallet
Nyzo Space - Paper wallet - developed by Angainor Dev
Nyzo DISCORD - There are currently 1600 active members and developers in the discord group with multiple joining every day. Most of the community communicates here. Here is where you’re guaranteed to have a one-on-one with the developers.
GitHub
New Community Forum website (You can get here lots of useful information. If you are ready to build for Nyzo and get paid, please read this article... Nyzo and its protocol which facilitates building)
Chinese Community website NYZO社区
Nyzo Twitter
Nyzo Gang Twitter
Facebook
Telegram
Instagram
Tumblr
Reddit
Bitcointalk
Weibo
QQ: 1007477423
Zedge
NYZO wallpapers for desktop and mobile devices
Trading: 
qTrade
BILAXY
Hotbit
QBTC
Citex
BiHodl


https://preview.redd.it/5ep6vlsj3l341.png?width=2560&format=png&auto=webp&s=40ef27f1c38bb3d4c542cfdfc58faa054ad7cc0b
submitted by Mobilenewsflash to CryptoCurrencies [link] [comments]

Long-run favors BTC over BCH, here's why...

There are many reasons why BTC will remain the gold standard and not BCH.
BTC Advantages over BCH:
BCH has:
I have been watching Bitcoin for a long time, and the main thing I've learned is don't overreact to flashes in the pan, weak hands, and anytime a "panic" is happening. What really pays in the long-run is sticking with things that have a proven track record, a high quality set of software engineers and computer scientists, and a critical mass of ecosystem. Nothing compares to Bitcoin in these regards!!
Bitcoin has a very bright future ahead!
submitted by fortunative to Bitcoin [link] [comments]

Every computer is the Bitcoin computer

Bitcoin doesn't require any special hardware, as it can be used on any device which can do computations. To make a Bitcoin transaction you need to create a ECDSA signature, which is just math, something which all computers do well. You can do it both on resource-constrained like smart cards (think SIM cards) and on large servers alike.
The idea that you need a special Bitcoin computer to use Bitcoin is outright harmful, as it limits your choices and dupes you into buying overpriced proprietary hardware which gives the vendor more control of what you can and cannot do. This is very much against the spirit of Bitcoin which can thrive only as an open system.
So yeah, that thing 21 inc is trying to sell makes no sense, whatsoever.
But a lot of people think that "there might be something in it", let me go through the theories of why this device makes sense:
  1. "It is a dev kit!". Let me guess, you aren't a programmer. Or if you're a programmer, you're a shitty programmer and should be ashamed of yourself. You do not need any dev kit for Bitcoin, all you need is open source software (and, maybe, some internet services, optionally). When I wanted to try to do something Bitcoin related back in 2011, all I needed was to download bitcoind and install it on my $10/month VPS. Then I looked through RPC API call list and made a Bitcoin-settled futures exchange. The whole thing took me only a week. I didn't need to pay $400 for a devkit. Learning how to work with bitcoind took less than a day. There are hundreds of Bitcoin companies and thousands of hobbyist working on Bitcoin projects, none of them needed any sort of a dev kit.
  2. "It is useful because it has APIs and pre-installed software!" No, see above. If needed, pre-installed software can be delivered in a form of a virtual machine (e.g. VirtualBox, VMware, etc), no need for a physical device.
  3. "It is useful because it comes with a micropayment service/API". Nope. These things can be done in software, no need for custom hardware. Obviously, a micropayment system can be more widely adopted when it is open. If it is tied to custom hardware (which I doubt) then you have a vendor lock-in which is exactly the thing we're trying to avoid with Bitcoin.
  4. "it comes with pre-installed marketplace". So what, we have marketplaces such as OpenBazaar. If there are useful features in the 21 inc's marketplace we can replicated them in open source software.
  5. "It's convenient for users!" Are you saying that a $400 device which you need to be connected to a laptop is more convenient than a service which can run in a browser?
  6. "It might offer better security". We already have devices such as Trezor which can protect bitcoins from unsecure operating system. Trezor costs much less than $400 and is actually useful. Even though it was done by a small company without much capital.
  7. "It can be used for applications like a reputation system, etc." When telecom companies wanted an ability to differentiate between users, they created smartcard-based SIM cards. This technology is many decades old. Using Bitcoin for a reputation system is a bad idea, as it is not designed for that. If device holds 1000 satoshi to give it an identity weight, a guy who has 1 bitcoin can impersonate 10000 such devices. It just not going to work.
  8. "A constant stream of bitcoins it mines is convenient for users." User has to pay for this device, he might as well just buy bitcoins. If it is necessary for bitcoins to be attached to hardware, this can be done using a tiny dongle which costs less than $1 to manufacture, or a smart card.
  9. "But this device got backed by VCs and large companies, there must be something to it, we are just too stupid to comprehend its greatness". Well...
There is, indeed, a very simple explanation of this device's existnce: Balaji's reality distortion field. He is a prominent VC, so it was relatively easy to convince others that it's a worthy idea. The big vision behind it -- the financial network of devices -- is actually great. And then there is a question of execution. A guy like Balaji is supposed to be an expert in assessing feasibility of execution. So, as we can guess, investors trusted him. As many VCs tell, they invest in people. They cannot examine nitty-gritty technical details, but just look at skills, track record, etc.
So the fact that it got large investments and generates a lot of hype doesn't mean much, there was a plenty of such companies during dotcom boom.
It's quite like :CueCat. As we now know, an ability to scan a printed code and open a web page which it points to is very useful, a lot of people use QR codes, they are ubiquitous. This was exactly the vision behind CueCat. But it was implemented as a dedicated hardware device, not as a smartphone app, as there were no smartphones at that time. So after a lot of hype and aggressive marketing the company failed, but just few years later their vision became realized in QR reader apps.
Hardware becomes increasingly irrelevant. As Mark Andreessen, Balaji's partner, [once said], software is eating the world. Solving problems which can be solved software using custom hardware is just silly.
Balaji talks about internet-of-things applications where devices mine bitcoins and use them to buy services they need to function. Well, in the end, user pays for that, as he pays for physical chips and electricity. It would be more efficient for him to pay directly than to use this mining-based scheme. And it's possible to do so using software. E.g. imagine you have a lot of smart devices which use external services in your home. It would be nice if you can just aggregate the bill and pay it off automatically, say $2/month. Why only $2? Well, if there is a device consuming $20/month, it needs some serious mining abilities, so it will cost much more than $20 in electricity bills...
Maybe 21 inc will eventually pivot into purely software solutions, they have a lot of money to play with. But the current generation of devices they make just makes no sense, whatsoever, and people who try to find something useful in them just waste their time.
EDIT: One plausible case for using custom hardware is a possibility of off-chain microtransactions using trusted hardware. Not unlike MintChip conceptually. But size of the device as well as its price is puzzling in this case, as this can be implemented (and was already implemented) in smart card form factor.
submitted by killerstorm to Bitcoin [link] [comments]

Groestlcoin Christmas Release!

Groestlcoin Dec 2018 Christmas Release Update

As per usual the 3 months has been all hand-on-deck, helping to bring further adoption utilities to Groestlcoin. The markets have been red but as always that doesn't stop the show from going on with regards to the development since the last release update on 24th September. Here's a recap of what has happened so far:

Recap:

What’s New Today?

Groestlcoin on Trezor Model T

As of the latest version of the Trezor Model T firmware, Groestlcoin is now officially supported! The Trezor Model T is the next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence. The Trezor Model T now supports over 500 cryptocurrencies.

Blockbook MainNet & TestNet Block Explorer

Blockbook is an open-source Groestlcoin blockchain explorer with complete REST and websocket APIs that can be used for writing web wallets and other apps that need more advanced blockchain queries than provided by groestlcoind RPC.
Blockbook REST API provides you with a convenient, powerful and simple way to read data from the groestlcoin network and with it, build your own services.

Features:

Blockbook is available via https://blockbook.groestlcoin.org/ Testnet: https://blockbook-test.groestlcoin.org/ Source code: https://github.com/Groestlcoin/blockbook

Edge Wallet

Groestlcoin has been added to the Edge wallet for Android and iOS. Edge wallet is secure, private and intuitive. By including support for ShapeShift, Simplex and Changelly, Edge allows you to seamlessly shift between digital currencies, anywhere with an internet connection.

Features:

Android: https://play.google.com/store/apps/details?id=co.edgesecure.app
iOS: https://itunes.apple.com/us/app/edge-bitcoin-wallet/id1344400091?mt=8
Direct Android: https://edge.app/app

CoinID Wallet

We are excited to announce that Groestlcoin has been added to CoinID! With integrated cold and hot wallet support, and a host of other unique wallet features, CoinID can easily become your go-to wallet for storing Groestlcoin. More details can be found here: https://coinid.org/s/groestlcoin-wallet-overview.pdf

Features

Android: https://play.google.com/store/apps/details?id=org.coinid.wallet.grs
iOS: https://itunes.apple.com/us/app/grs-wallet-for-coinid/id1439638550

Groestlcoin Sentinel - Windows Released

Groestlcoin Sentinel is the easiest and fastest way to track balances of your Groestlcoin addresses.
Features
You can download it using the links below.
Download the Windows Wallet (64 bit) here: https://github.com/Groestlcoin/Groestlcoin-Sentinel-Windows/releases/download/1.0/SentinelSetup_x64.msi
Download the Windows Wallet (32 bit) here: https://github.com/Groestlcoin/Groestlcoin-Sentinel-Windows/releases/download/1.0/SentinelSetup_x86.msi
Source code: https://github.com/Groestlcoin/Groestlcoin-Sentinel-Windows/

Groestlcoin BIP39 Tool 0.3.9 Update

The Groestlcoin BIP39 tool is an open-source web tool for converting BIP39 mnemonic codes to addresses and private keys. This enables the greatest security against third-party wallets potentially disappearing – You’ll still have access to your funds thanks to this tool.
What’s New
Download the Groestlcoin BIP39 tool here: https://github.com/Groestlcoin/bip39/archive/master.zip
Source code: https://github.com/groestlcoin/bip39
Or use hosted version: https://groestlcoin.org/bip39/

Electrum-GRS 3.2.3 Update

Electrum-GRS is a lightweight "thin client" Groestlcoin wallet Windows, MacOS and Linux based on a client-server protocol. Its main advantages over the original Groestlcoin client include support for multi-signature wallets and not requiring the download of the entire block chain.
What’s New

Electrum + Android Version 3.2.3:

Android: https://play.google.com/store/apps/details?id=org.groestlcoin.electrumgrs
Windows & OSX: https://github.com/Groestlcoin/electrum-grs/releases/
Linux:
sudo apt-get install python3-setuptools python3-pyqt5 python3-pip python3-dev libssl-dev sudo pip3 install groestlcoin_hash sudo pip3 install https://github.com/Groestlcoin/electrum-grs/releases/download/v3.2.3/Electrum-grs-3.2.3.tar.gz electrum-grs
GitHub Source server: https://github.com/Groestlcoin/electrumx-grs
Github Source server installer: https://github.com/Groestlcoin/electrumx-grs-installer
Github Source client: https://github.com/Groestlcoin/electrum-grs

Groestlcoin ivendPay Integration

ivendPay and Groestlcoin cryptocurrency have announced the start of integration.
IT company ivendPay, the developer of a universal multicurrency payment module for automatic and retail trade, intends to integrate Groestlcoin cryptocurrency — one of the oldest and the most reputable Bitcoin forks into the payment system. Groestlcoin is characterized by instant transactions with almost zero commission and is optimal for mass retail trade where micropayments are mostly used.
According to Sergey Danilov, founder and CEO of ivendPay, Groestlcoin will become the 11th cryptocurrency integrated into the payment module. The first working vending machines for the sale of coffee, snacks and souvenirs, equipped with ivendPay modules, served the visitors of the CryptoEvent RIW exhibition at VDNKh in Moscow and accepted Bitcoin, Go Byte, Dash, Bitcoin Cash, Ethereum, Ethereum Classic, Zcash, Bitcoin Gold, Dogecoin and Emercoin. ivendPay terminals are designed and patented to accept payments in electronic money, cryptocurrencies and cash when connecting the corresponding cash terminal. Payment for the purchase takes a few seconds, the choice of the payment currency occurs at the time of placing the order on the screen, the payment is made by QR-code through the cryptocurrency wallet on the smartphone.
The interest in equipping vending machines with ivendPay terminals has already been shown by the companies of Malaysia and Israel, where first test networks would be installed. ivendPay compiles a waiting list for vending networks interested in buying terminals and searches for an investor to launch industrial production. According to Sergey Danilov, the universal payment terminal ivendPay for the vending machine will cost about $500. The founder of ivendPay has welcomed the appearance of Groestlcoin among integrated cryptocurrencies, as it is another step towards the realization of the basic idea of digital money - free and cross-border access to goods and services for everybody.
submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

Bonehead's Ethereum News to Come (Updated)

NEWs To Come - last updated - April 5th, 2016
Ethereum’s ecosystem is growing so quickly, very exciting news has a habit of coming out of nowhere. That said, there are more than a few things to have on our radar. Thanks to help from this community, here’s a current list. As always, what am I missing?
Ethereum Blockchain Development
Other news we know will happen
Coin relays and interoperability
One very powerful aspect of Ethereum’s blockchain is it allows both formal relays between blockchains as well as general interoperability between chains. Relays allow Ethereum to empower other blockchains, basically letting these more classic chains (like Bitcoin and Dogecoin) use Ethereum as a service for smart contracts. This “bonded sidechain” is more powerful/flexible path to using smart contracts than building non-currency agnostic chains. Similarly, interoperability is a classic concept in software development with over 30 years of history. Ethereum’s Virtual Machine (EVM) greatly facilitates multi-chain interoperability – which could allow private chains to communicate with Ethereum’s public chain. Basically, Ethereum facilitates “chaining all the things”. In other words, even future private chains could interoperate with the Ethereum public blockchain to have a gateway between their secured private chain and the more global public chain. Private chain development is a GOOD thing under this model, even if that private chain is not an Ethereum fork.
Current examples
Public Dapps and/or ventures to keep an eye on
Ethereum ecosystem is growing in unbelievable way with well over a 100 DApps. Below are some DApps and ventures that have been commonly discussed and seem to be generating news sooner than later.
Many of Ethereum's 100+ DApps will fail, but it only takes one to succeed to bring Ethereum to the mainstream. That said, sadly, there will also be scams. We should never forget Bitcoin's NeoBee or any of the MANY failed exchanges. As a community, we'll want to keep a close eye out in more ways than one. Be enthusiastic but critical - with transparency being absolutely key to trust.
Developer tools to keep an eye on
Ether ATMs
Embedded Devices
Potential surprises that are not really surprises
Parting statement
Ethereum has essentially a monopoly on smart contracts, and from the list above, it should be clear that it has built a remarkable network effect around this ecosystem. It is a disruptive technology, that fosters synergies, and when put in a greater perspective, it’s market cap remains quite tiny, especially when you think of the relative size of the growing community.
Please let me know if there is something you'd like to see.
Concerns
You can support my ETH sleuthing addiction:
0x082b594a0fbb4faa007e72f3a31d56764ac4de66
submitted by nbr1bonehead to ethtrader [link] [comments]

Stegos: More trustless than ZCash, more scalable than Monero, more user-friendly than MimbleWimble

We live in an era of unprecedented state surveillance and crackdowns on freedom of transactions, expression, and even thought. But privacy is a universal human right that we must fight to preserve. There are various tools available which promise to ensure your privacy, such as encrypted email and messaging applications, but these leave highly visible clues about who you are and who you are talking to.
Stegos Privacy Blockchain is the best way to secure your data, transactions and communications. Unlike traditional email and online messaging services, it’s completely decentralized, cryptographically secure, and leaves no telltale clues in the open. It’s impossible to see who you send or receive information from, or even to see how you’re connecting to the Stegos blockchain. No one but the recipient can see what you’ve sent, and there’s nothing to link the information or communications to your real-life identity.
Issues with existing privacy blockchain implementations There are already several privacy blockchains, including Verge, Dash, ZCash, Monero, Grin and Beam, all offering different degrees of privacy and confidentiality. Unfortunately, all these blockchains also come with drawbacks. For example, Verge offers little privacy and nothing unique, Dash is not really private, ZCash requires you to trust it and Monero is hard to scale.
Grin and Beam, both based on MimbleWimble technology, require both sender and receiver to be online to complete a transaction, which is impractical for modern global communication and business needs. In addition, any node on the Grin/Beam network can listen in and trace coins being exchanged, so their coins are not fungible and can be easily tainted.
Last but not least, none of the above blockchains provide a platform for building privacy applications, drastically reducing their utility and accessibility.
Privacy technology implemented by Stegos
Using privacy technologies like pairing-based cryptography (PBC), BLS signatures, Schnorr signatures, Confidential Transactions (CT), stealth addresses, Bulletproofs, ValueShuffle, plus scalability via OmniLedger sharding, Stegos fixes the shortcomings of existing privacy coins and offers complete and total privacy with no usability drawbacks.
We improve on the blockchain status quo with BlockCrunch, Snowball and SafeData, technologies developed in-house, as well as the Trusted Application Container for easy and convenient deployment of new privacy apps built on the Stegos platform.
Anonymity, fungibility and untraceability
Anonymity, fungibility and untraceability are essential requirements of a privacy coin. Bitcoin is not anonymous, for example, as wallet addresses are public. Bitcoin is also not untraceable, as transaction history can be easily followed by using a block explorer, as well as specialized blockchain analysis tools.
Fungibility is the ability for one unit of a good or currency to be freely exchanged for another unit. For example, the US dollar is fungible, because any dollar bill can be exchanged for another one without loss of value. Bitcoin is not fungible for the same reason it’s not anonymous — all Bitcoin payments can be freely traced and coins can be labeled as tainted if they were ever used for illicit activity. Crypto exchanges and businesses may refuse to accept these tainted coins, making them less valuable compared to other coins. Exchange without loss of value is no longer possible and these coins are said to be non-fungible.
Fungibility is important, as the most recent recipient of any tainted coins may be left holding the bag, despite no knowledge of their prior illicit use. They might even lose access to their money if the tainted coins are sanctioned by the authorities. Confidential transactions improve fungibility by encrypting the input and output of each transaction, making it more difficult to differentiate tainted coins from untainted ones. But they do not completely solve the problem.
Like Monero and ZCash, Stegos uses one-time payment addresses. These make it impossible to identify recipients of a transaction, because every transaction is directed to a new and unique (stealth) address.
We implement confidential transactions by cloaking input and output amounts in each transaction and substituting them with their Pedersen committments. Only the sender and the recipient of the coins know the actual values used. We secure the transaction by proving that the sum of all inputs is greater or equal to the sum of all outputs. (It’s impossible to tell if a cloaked amount is positive or negative so also take the Bulletproof of the value of each cloaked amount, which proves that it falls within in a certain numerical range.)
We don’t store transactions in our blocks but instead simplify them down to inputs and outputs, MimbleWimble-style. This makes it almost impossible to trace transactions on our blockchain. While a malicious node implanted in our blockchain could theoretically collect and store transaction history in order to analyze it later and potentially taint coins or identify senders and receivers, this is both highly unlikely and impractical. This is also a problem common to other privacy technologies such as MimbleWimble.
Snowball, our protocol for mixing confidential transactions, builds on ValueShuffle to completely sever the relationship between inputs and outputs of each transaction, as well as senders and receivers, providing complete untraceability and fungibility.
Snowball forms pools of senders who wish to mix their transactions and then creates a super-transaction, mixing it using DiceMix. Then a collective signature is attached and the transaction is published. All anyone can see in a Snowball super-transaction is that all inputs are being spent and that each output is associated with one or more inputs. It is impossible to tell which output corresponds to which input.
Keeping the blockchain small
Lots of blockchains talk about reaching a million transactions per second (tps) but no one talks about how they are going to maintain a blockchain that’s growing that fast. Bitcoin only does 7 tps and the blockchain is expected to grow past 170gb by the end of this year. Non-cash transactions are estimated at 1.4 billion per day and are expected to grow quadratically, with the current volume translating to just 16k tps.
Using an average Bitcoin transaction of 250 bytes, this would generate 350 gigabytes every day, or 127 terabytes every year. This amount of data is completely unsustainable and could only be handled on a few very centralized supercomputers.
Stegos uses BLS instead of Schnorr signatures in its consensus protocol and for block signing. This allows us to simultaneously minimize network communications, improve processing speed, and keep the block size small by combining every signature in the block into a single signature.
We also directly address the problem of the ever-growing blockchain with BlockCrunch technology, a product of our in-house research and development. Instead of storing transactions in each block, we decompose them into Merkle trees of inputs and outputs. As they receive each block and before adding it to the end of their chain, Stegos validators apply cryptographically secure pruning to the inputs spent by each output. Then instead of being a ledger of every transaction ever made, like Bitcoin, the Stegos blockchain then is more like a database of unspent coins. This keeps the chain much smaller, and with no transaction history to trace there’s no way to compromise the privacy and fungibility of Stegos coins.
Say no to useless smart contracts
At Stegos, we firmly believe that smart contracts are useless and will continue to be useless for the foreseeable future, ERC20 tokens and CryptoKitties notwithstanding. Blockchain is a powerful mechanism for a decentralized and trustless exchange of data, though, and we harness this power with SafeData technology, as well as the Trusted Application Container (TAC), both products of in-house research.
With SafeData and our software development kit (SDK), developers can easily build mobile applications that exchange data with complete privacy and confidentiality. The Trusted Application Container (TAC) makes it easy to deploy privacy apps and provides these apps with a convenient programming interface (API) to access data stored on the blockchain, as well as collecting subscription payments for app use.
Inspired by WeChat and its use of mini-apps, we designed the TAC as a single mobile application with an integrated wallet that can run multiple privacy apps. Stegos privacy mini-apps can be developed using XML, CSS and JavaScript, technologies that all developers are already familiar with.
Keeping data on the blockchain
There are many applications that would benefit from storing data on the blockchain but cannot do so since the data needs to be frequently modified. A trading application or a decentralized exchange (DEX) would need to duplicate the entire order book every time it received a new quote or trade. Micropayments, e.g. paying for streaming short bursts of video, are another example of an appealing use case which is completely impractical in current blockchain approaches.
Frequently modified data consumes large amounts of blockchain space, even though only the most recent copy of the data is needed. Bitcoin and other blockchains have begun to develop Layer 2 technologies like Lightning Network and state channels to avoid storing frequently modified data on the blockchain. But there’s no need for such solutions with Stegos.
We secure data transactions by using the same Pedersen commitments and Bulletproofs as regular payment transactions. This lets us also prune spent data just as we prune spent coins, thus keeping the Stegos blockchain small and nimble.
Proof-of-stake consensus
Proof of stake (PoS) is a consensus algorithm where the creator of the next block is chosen via various combinations of random selection, as well as the wealth and age of staked funds. PoS blockchains are more energy efficient than currencies based on proof-of-work (PoW) algorithms.
Scalable bias-resistant distributed randomness is a critical component of Stegos. We use it to select validator groups and elect the leader of each consensus round, among other things. Stegos randomness is based on Verified Random Functions (VRF) and an improvement on RandHerd, a distributed protocol that enables a potentially large collection of servers to form a distributed public randomness beacon, which proactively generates a regular series of public random outputs.
Our randomness protocol generates a distributed public randomness beacon from BLS signatures on block headers. VRFs are used to exclude the possibility of stake grinding by the leader of each consensus round.
The Stegos consensus protocol is based on Practical Byzantine Fault Tolerance (pBFT) but adds strong consistency, which enables all validators to agree on the validity of blocks without wasting computing cycles to resolve forks and inconsistencies. As soon as a transaction appears in the blockchain, it can be considered confirmed.
We also adopt Collective Signing (CoSi), a scalable witness cosigning protocol ensuring that every authoritative statement is validated and publicly logged by a diverse group of witnesses before any client will accept it. CoSi builds on existing cryptographic multi-signature methods, scaling them to support thousands of witnesses via signature aggregation over efficient communications.
The default implementation of CoSi uses Schnorr signatures, which we replace with BLS signatures for performance reasons. The original design of CoSi uses Schnorr signatures and tree-based communications. We replace this with BLS signatures and gossip-based communications for security and performance reasons.
Conclusion
With no heavy-duty PoW calculations to perform, anyone can earn coins by running a Stegos node on the smartphone in their pocket and helping to validate Stegos transactions.
You can find more information about the project on our Github Wiki, including our whitepaper, technical paper, source code and demo video. Join us on Telegram to discuss this post.
submitted by stegos4privacy to u/stegos4privacy [link] [comments]

Bitcoin Micropayment Revolution? -- Bitcoin Free Speech -- 500,000 trades per second What are micropayments? The StartUp #4: Pay Per View with Bitcoin Tipping ChangeTip Bitcoin MicroPayment Content Monetization CryptoCurrency Money #BTC4 P2P - The Bes A One Cent Micropayment for Content

Jeder Mensch ist eine Firma, und jeder Computer sein Angestellter. Die Vision, dass euer Computer ein Grundeinkommen erwirtschaftet, wird Wirklichkeit. Die Firma 21.co schafft dafür mit dem 21 Bitcoin Computer und dem 21 Bitcoin API Marktplatz wichtige Grundlagen. Micropayment channels. Security issue: the Bitcoin network allows transaction malleability. With the code in 0.10, a malicious server could modify the contract tx before broadcasting it, rendering the refund useless and allowing extortion of the user. API warts. The Wallet class is huge and has a lot of functionality that could be refactored ... Getting Started¶. The site aims to provide the information you need to understand Bitcoin and start building Bitcoin-based applications. To make the best use of this documentation, make sure you’re running a node. For technical support, we recommend Bitcoin Stack Exchange.For errors or suggestions related to this documentation, please open an issue on GitHub. SatoshiPay arbeitet in Kooperation mit der IOTA-Foundation an der Netzwerkentwicklung einer eigenen Blockchain. Bereits seit seiner Produkteinführung 2015, setzte SatoshiPay, zur Durchführung von Transaktionen, auf das Bitcoin-Netzwerk. Seitdem hat sich allerdings die Wirtschaftlichkeit des Bitcoin-Netzwerks verändert. Working with micropayment channels. Learn how to efficiently send repeated micropayments to a chosen recipient. Introduction. Bitcoin has great potential as a platform for enabling micropayments, payments much smaller than what the traditional financial system can handle.Indeed, you can send a very tiny amount of value in a Bitcoin transaction without doing anything special and it will work ...

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Bitcoin Micropayment Revolution? -- Bitcoin Free Speech -- 500,000 trades per second

A genuine micropayment :) This is not possible with Stripe or PayPal. It is only possible with a smart contract network on bitcoin. Our technology is similar to but not equivalent to the lightning ... This video is unavailable. Watch Queue Queue. Watch Queue Queue A bitcoin micropayment channel allows a client and server to set up a trust-less feed and send many transactions off the block chain and then once complete broadcast it to the network. https ... Thank you mucho meow for your donation: Bitcoin Address: . why if I had a quarter for every blog post... Id have a whole buncha quarters! * * * * * * * * * *... On this episode of The StartUp, Doug Scribner of WatchMyBit.com discusses the virtues of using Bitcoin as a micropayment channel for watching videos.

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