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Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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What A Day: Kemporary Insanity by Sarah Lazarus & Crooked Media (07/16/20)

"I don’t have Bitcoin, and I’ll never ask you to send me any." - Joe Biden, with the most keepable promise of his campaign to date

Why Can't ICU

Multiple states are poised to run out of hospital beds and supplies, the White House has seized control of new hospitalization data, and some Republican leaders are still actively thwarting measures that keep people out of the hospital. What could go wrong?
Outside the White House, some Republicans have read the polls and opted to rescind whatever loyalty they had left.
This week marks a disturbing new chapter in the pandemic, with the Trump administration further compromising the transparency of public-health data and ramping up its purge of officials seen as potential leakers. If ever there was ever a moment for congressional Democrats to loudly demand answers, this would be it.

Look No Further Than The Crooked Media

Last week the Supreme Court dropped a historic ruling on a case determining the reservation status of Eastern Oklahoma—the very case that the Crooked podcast This Land explored last year.
Today, Cherokee journalist and This Land host Rebecca Nagle released a bonus episode breaking down what this Supreme Court decision means, and what’s next. You can listen to season one of This Land on Apple Podcasts or anywhere you listen to podcasts—plus the just-dropped bonus explainer episode—out now

Under The Radar

The Supreme Court just dealt a major setback to restoring the voting rights of people with felony convictions in Florida. The Court’s conservative majority left in place a temporary federal appeals court order staying a lower-court ruling that should have cleared the way for hundreds of thousands of Floridians to vote. As a result, people in the state who have completed felony sentences but still have outstanding court fines or fees remain barred from voting. For those keeping score: The Roberts Five will intervene to block orders that make it easier to vote (see: Wisconsin, etc.) but will not intervene to block orders that make it harder to vote.
There are a few levels of cruelty here. First off, this is an unconstitutional poll tax, plain and simple. Second, Florida frequently has no idea how much these voters owe: even when they can afford to pay, it’s often impossible for them to do so. And most insanely, as Justice Sonya Sotomayor noted in her dissent, voters who registered before this ruling was stayed will remain on the rolls, but won’t be notified that they’re once again ineligible, and thus could be prosecuted for trying to vote. The fight isn’t over, but it’s unclear if it will be resolved before November. If you’re in a position to give, you can help with a contribution to the Florida Rights Restoration Coalition. Also, adopt Florida.

What Else?

Russian hackers have tried to steal coronavirus vaccine information, according to the U.S., U.K., and Canada. The hackers have targeted organizations researching vaccines with spear-phishing and malware. The U.K. has also accused Russia of trying to meddle in its 2019 election by leaking sensitive U.S. trade documents.
Anywho, good thing President Trump ordered U.S. intelligence to share more information with the Kremlin, which Russia has been using to (checks notes) try to assassinate Chechen dissidents in Europe.
Centers for Medicare and Medicaid Services chief Seema Verma violated federal rules when she steered millions of dollars in contracts to GOP allies, according to the HHS inspector general.
The Justice Department carried out a second federal execution following a late-night, divided Supreme Court ruling. Wesley Purkey was killed by lethal injection in spite of pending litigation about his competency to be executed. Quite a 24 hours for the Roberts Five.
Trump demoted Brad Parscale from his role as campaign manager, replacing him with Bill Stepien. Parscale won’t be going far—he built the campaign’s digital operation, and his private company provides a handy means of funneling money to Eric Trump’s wife and Don Jr.’s girlfriend.
In other corrupt mishandling of campaign funds, the Trump Victory PAC paid about $400,000 to the Trump International Hotel between April and June, and Trump’s for profit businesses have pocketed at least $970,000 in federal funds, and probably much, much more than that.
George Floyd’s family has filed a civil rights lawsuit against Minneapolis and the police officers involved in his death. Newly available police camera footage showed Floyd pleading for his life during his fatal arrest.
More than 80 people were arrested outside the home of Kentucky’s attorney general, where they were demanding justice for the police killing of Breonna Taylor.
Bestselling author Mary Trump said she witnessed “knee-jerk antisemitism, a knee-jerk racism” among her family: “Growing up, it was sort of normal to hear them use the n-word or use antisemitic expressions.”
Just making sure everyone knows about Ziwe Fumudoh?

Be Smarter

The Trump administration may impose a travel ban on members of China’s Communist Party and their families. It’s a little easier said than done: The Chinese Communist Party has 92 million members, and the U.S. has no easy way of identifying them. The draft of the plan would also authorize the government to revoke the visas of CCP members who are already in the country. The ban would be the Trump administration’s most aggressive move against China since Trump initiated the trade war in 2018, and would almost certainly provoke retaliation against Americans looking to visit or stay in China.

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Is That Hope I Feel?

Oxford scientists found early evidence that their potential coronavirus vaccine provides “double protection”: volunteers who received the vaccine showed both antibody and T-cell responses. If all goes well in future trials, that vaccine could be available as soon as September.
New polling research found that Americans are overwhelmingly in favor of bold government action on climate change, and skeptical of Republican attacks on climate action.
Target and CVS are the latest major retailers to require customers to wear masks.
LGBTQ political representation increased by 21 percent in the past year.

Enjoy

Carey O'Donnell on Twitter: "Ivanka talking to her gay friend one night while abroad during junior year of college"
submitted by kittehgoesmeow to FriendsofthePod [link] [comments]

Why i’m bullish on Zilliqa (long read)

Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analysed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralised and scalable in my opinion.
 
Below I post my analysis why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since end of January 2019 with daily transaction rate growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralised and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. Maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realised early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralised, secure and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in amount of nodes. More nodes = higher transaction throughput and increased decentralisation. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue disecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as:
“A peer-to-peer, append-only datastore that uses consensus to synchronise cryptographically-secure data”.
 
Next he states that: >“blockchains are fundamentally systems for managing valid state transitions”.* For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralised and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimisation on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (>66%) double spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT etc. Another thing we haven’t looked at yet is the amount of decentralisation.
 
Decentralisation
 
Currently there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralised nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching their transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public.They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers.The 5% block rewards with an annual yield of 10.03% translates to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS & shard nodes and seed nodes becoming more decentralised too, Zilliqa qualifies for the label of decentralised in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. Faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time stamped so you’ll start right away with a platform introduction, R&D roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalised: programming languages can be divided into being ‘object oriented’ or ‘functional’. Here is an ELI5 given by software development academy: > “all programmes have two basic components, data – what the programme knows – and behaviour – what the programme can do with that data. So object-oriented programming states that combining data and related behaviours in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behaviour are different things and should be separated to ensure their clarity.”
 
Scilla is on the functional side and shares similarities with OCaml: > OCaml is a general purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognised by academics and won a so called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities safety is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa for Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue:
In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships  
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organisations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggest that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already taking advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, AirBnB, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are build on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”*
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They dont just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities) also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiatives (correct me if I’m wrong though). This suggest in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures & Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
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[UPDATE][M] Ryo Currency 0.5.0.0 "Fermi Paradox"

[UPDATE][M] Ryo Currency 0.5.0.0
https://preview.redd.it/o6o6y8g9rwi41.jpg?width=1920&format=pjpg&auto=webp&s=fe52faff108d163f476907e004cac1ef47aaa1a9
[M] - Mandatory. The update contains security fixes or contains fork update (wallet will stop working after some height reach).
IMPORTANT: The latest version is 0.5.0.1 (contains minor update after 0.5.0.1)
Meet Ryo Currency 0.5.0.0 update - Fermi Paradox. In this update we will discuss 3 updates and do one announcement in the source code, 2 of them will be the first among any Cryptonote projects:
  • Wallet Scan speedup thanks to ECC and multi-threading library. Increased wallet scan speed when processing blockchain. New Elliptic Curve Cryptography library combined with implemented multi-threading that ustilises user's CPU results in reduced block verification up to 5x times compared with previous modes.
  • Plateau emission curve. Ryo's block reward changes every 6-months following a "Plateau Curve" distribution model. The modification of emission curve was initiated and debated with Ryo community. The following fork will finalise and implement that change.Notice: the difference between previous and this model will take effect at block height 394470.Read more about Ryo plateau emission curve
  • Various code edits, refactoring and minor fixes. There are multiple code fixes and edits that could be considered minor when looked in particular, but when looked in general - result in more than 35.000 lines of code being changed making core code more clean, optimised and bugfixed.Check Ryo Github repository
https://preview.redd.it/qv27xxdarwi41.png?width=2000&format=png&auto=webp&s=34836461eb348619f37f75fbc91e94a58dc065f8
Research and studies of Ryo Dev team showed that current ring signature technology as it is - is obsolete and has too many flaws to be considered as a means for reaching the goal of the second level of of privacy. Therefore we will be replacing ring signatures with second generation ZK-proofs technology in observable future and temporarily downgrade privacy level to 1.
In general, you can consider privacy levels like that:
  • level 0 - everyone can look into your wallet and know your transactions (BTC level)
  • level 1 - nobody can see inside of your wallet, but each note has a serial number (yes, this is real life money level and in CN coins is implemented using stealth addresses)
  • level 2 - notes you have don't have a serial number to a guy that gave you one, and no-one can't know if you spent it later (In CN coins it is implemented using ring signatures - which are the failing ones)
What we are saying is over the past year or two, researches stripped ring signatures of their privacy properties so much, that we think it is no longer fair to say that we (or Monero, which is even worse since it has even smaller ring size compared to Ryo) or any other CN project that uses it - meet the level 2 of privacy.
So, summarising in non-tech words what does it mean - when you are doing a transaction and want to imagine how it looks like in system:
  • bitcoin - "I spent output 10, worth 1 BTC and output 22, worth 0.5 BTC"
  • ring signature (current CN coins) - "I spent output 10, 14, 18 or 20, and output 16, 18, 19, or 22"
  • zk-proof - "I spent something."

Fork is scheduled on block 362000: you can check fork countdown on Ryo Currency website

Please update your wallets before this block, or your previous wallet will stop synchronising after the block 362000:
  • Ryo Wallet Atom: download latest Atom installer when annouced update to version 1.5.0, start it and perform reinstall.
  • Ryo cli binaries: download or compile from source updated binaries from Github version 0.5.0.0 and unzip it, and place your wallet key files in new folder.
  • Pool owners and exchanges are notified about updating their nodes to the latest version before the fork.
Questions you might have regarding the fork:
  • What will happen with mining algorithm - will it change or what does "fork" mean - coin is split on 2? No, "fork" basically means major code update that is being activated on a specified block height. There will be no mining algorithm change or chainsplit.
  • Ryo roadmap indicates that you had in plans reaching 100x ring sizes. In light of future introduction of ZK-proofs does it mean that this is not aplicable? Yes, we eventually will be replacing ring signature technology on ZK-proofs, which is more fundamental change than trying to "beat dead horse" with ring signatures.
  • What about atomic swaps? Ryo roadmap indicates it being planned, is it still possible with introducing ZK-proofs? Yes it is! And we aim to implement this feature after all necessary updates in core code. It is important to have everything implemented and tested before adding that feature.
  • What is a ZK-proof? ZK stands for zero-knowledge. In cryptography, a zero-knowledge proof is a method by which one party (the prover) can prove to another party (the verifier) that they know a value x, without conveying any information apart from the fact that they know the value xYou can read more about zero-knowledge proof (with real life examples) here.
  • Will blockchain grow faster (what about tx size) when moving to ZK-proofs? Overall, transactions and blocks using ZK-proofs will be even smaller in size than pre-fork ring signatures with bulletproofs! Plus it enables transactions to be aggregated together - this is obviously a major scalability gain for Ryo Currency.
  • I heard or as far I understand that ZK-proofs are somewhat less private? Does it mean that you are not privacy-oriented project anymore? No, in short - we decided to do this change to second gen. ZK-proofs, because ring signatures as is are too weak on providing enough for us default level of privacy and overall are considered now as an obsolete technology. So we don't want to say that we have a privacy level of 2, when research shows that it is not.
  • Ok, after 0.5.0.0 fork - will we be using uniform payment ID-s to do transactions on exchanges? Yes. There are no changes regarding usage of payment ID-s and integrated addresses. We will be still using ring signatures, but also are announcing our goal on moving to ZK-proofs.
  • What else is there in plans/ideas you have in development of Ryo? Besides all plans and development ongoing with Ryo (wallets, infrastructure, core code and researches) we also developed and improve Mining platform RagerX. It is a all-in-one mining platform that unites a miner, pplns pool, OS, GUI flasher utillity, pool frontend and has advanced social features as well as 2 level affiliate program. In observable future we will add Cryptonight-GPU mining possibillity.We are implementing RagerX so people can mine CPU coins and Ryo simultaneously. Which means more eyes on Ryo, especially from fresh members.
  • Are the ring signature issues that have been discovered are applicable to other ring signature based coins like Monero? Yes.
https://preview.redd.it/x5jqtb8brwi41.png?width=1000&format=png&auto=webp&s=06a0de33b10014e0fdf1b847939718475cbe6fbe
submitted by RyocurrencyRu to ryocurrency [link] [comments]

Introducing a POW through a soft-fork | Devrandom | Nov 01 2017

Devrandom on Nov 01 2017:
Hi all,
Feedback is welcome on the draft below. In particular, I want to see if
there is interest in further development of the idea and also interested in
any attack vectors or undesirable dynamics.
(Formatted version available here:
https://github.com/devrandom/btc-papers/blob/masteaux-pow.md )

Soft-fork Introduction of a New POW

Motivation:

not have economies of scale
mining power fluctuations
Note however that choice of a suitable POW will require deep analysis.
Some pitfalls include: botnet mining, POWs that seem ASIC resistant but are
not, unexpected/covert optimization.
In particular, unexpected/covert optimizations, such as ASCIBOOST, present
a potential centralizing and destabilizing force.

Design

Aux POW intermediate block

Auxiliary POW blocks are introduced between normal blocks - i.e. the chain
alternates between the two POWs.
Each aux-POW block points to the previous normal block and contains
transactions just like a normal block.
Each normal block points to the previous aux-POW block and must contain all
transactions from the aux-POW block.
Block space is not increased.
The new intermediate block and the pointers are introduced via a soft-fork
restriction.

Reward for aux POW miners

The reward for the aux POW smoothly increases from zero to a target value
(e.g. 1/2 of the total reward) over time.
The reward is transferred via a soft-fork restriction requiring a coinbase
output to an address published in the
aux-POW block.

Aux POW difficulty adjustment

Difficulty adjustments remain independent for the two POWs.
The difficulty of the aux POW is adjusted based on the average time between
normal block found
to aux block found.
Further details are dependent on the specific POW.

Heaviest chain rule change

This is a semi-hard change, because non-upgraded nodes can get on the wrong
chain in case of attack. However,
it might be possible to construct an alert system that notifies
non-upgraded nodes of an upcoming rule change.
All blocks are still valid, so this is not a hardforking change.
The heaviest chain definition changes from sum of difficulty to sum of:
mainDifficulty ^ x * auxDifficulty ^ y 
where we start at:
x = 1; y = 0 
and end at values of x and y that are related to the target relative
rewards. For example, if the target rewards
are equally distributed, we will want ot end up at:
x = 1/2; y = 1/2 
so that both POWs have equal weight. If the aux POW is to become dominant,
x should end small relative to y.

Questions and Answers

weight? A: 1/2 of the reward should be transferred
to aux miners and x = 1/2, y = 1/2.
most of the reward should be transferred to
aux miners and x = 0, y = 1. The main difficulty will tend to zero, and
aux miners will just trivially generate the
main block immediately after finding an aux block, with identical content.
optimized by skipping transactions already
transferred.
would agree if they believe that
the coins will increase in value due to improved security properties.

Open Questions

become idle while a block of the other type is being mined. In practice,
the spare capacity can be used to find alternative ("attacking") blocks or
mine other coins. Is that a problem?
types of hardware?

POW candidates

confirmation)

Next Steps

detrimental behavior patterns (e.g. block withholding / selfish mining)

Credits

Bram Cohen came up with a similar idea back in March:
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-March/013744.html
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Subreddit Stats: btc top posts from 2015-11-07 to 2018-12-03 19:07 PDT

Period: 1122.63 days
Submissions Comments
Total 1000 177195
Rate (per day) 0.89 157.49
Unique Redditors 537 19498
Combined Score 606295 1044009

Top Submitters' Top Submissions

  1. 28637 points, 50 submissions: Egon_1
    1. bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" (4810 points, 506 comments)
    2. WSJ: "[bitcoin core] fees have reached an average cost of about $30 per transaction. That makes bitcoin virtually unusable for all but very large transactions. The Bitcoin Cash crowd is just trying to offer a solution to that problem." (1305 points, 338 comments)
    3. Friendly reminder that the LiteCoin ($36) founder sold 100% of his coins as it ran up to $300 while wearing a HODL shirt for video interviews. (1192 points, 293 comments)
    4. Rick Falkvinge:"Fun fact: I am aware of a truckload of companies currently in the process of converting from Bitcoin Legacy to #Bitcoin Cash. I am aware of zero (0) companies going the other direction." (657 points, 226 comments)
    5. "Bitcoin.com wallet now displays "Bitcoin Cash" and "Bitcoin Core" balances. Should satisfy everyone, right? ;)" (627 points, 444 comments)
    6. GDAX: "We will open the BCH-BTC Order Book on Wednesday, January 17 at 9:00 am PST." (618 points, 112 comments)
    7. Stephen (BitPay CEO):"a typical #bitcoin transaction costs $1.80 now, >200k unconfirmed transactions, time for a hard fork to larger blocks ... 8mb please" (544 points, 113 comments)
    8. Erik Voorhees: "Changing Bitcoin's proof-of-work to prevent miners from mining is the most absurd and reckless thing I've heard in the scaling debate." (539 points, 171 comments)
    9. Erik Voorhees: "Fellow Bitcoiners, are you ever going to realize how problematic these fees are getting? Avg fees now over $40 per tx. A year ago avg fee was $4. A year prior, $0.40. Growing faster than price, and exponentially with usage. We just spent $4800 to move 15 BTC in one TX." (539 points, 147 comments)
    10. BitPay CEO: “If people can’t engage in commerce, it’s hard to imagine why they’d want to store their money in Bitcoin in the first place” (537 points, 133 comments)
  2. 26883 points, 56 submissions: MemoryDealers
    1. I'm Roger Ver, CEO of Bitcoin.com and world's first investor in Bitcoin startups. AMA (978 points, 932 comments)
    2. The pro Bitcoin Cash video from CNBC made it to the very front page of Yahoo.com! (858 points, 189 comments)
    3. I (Roger Ver) will be doing an AMA on Monday Dec 18th starting at 10AM EST on /BTC because /Bitcoin is completely censored. (826 points, 412 comments)
    4. Reminder: Blockstream and Core got 100% of everything they asked for. (807 points, 332 comments)
    5. I'm giving away $100 each of BCH and BTC on live TV tomorrow by displaying the private key. Guess why? (738 points, 827 comments)
    6. How wrong were they? More than 2 years ago the CEO of Lightning Labs said LN would be ready in less than 6 months (695 points, 275 comments)
    7. To the Censorship loving tyrants in /Bitcoin, don't Say Bitcoin.com didn't warn you! "In the unlikely event that the 2MB block size increase portion of Segwit2x fails to activate, Bitcoin.com will immediately shift all company resources to supporting Bitcoin Cash exclusively." (672 points, 363 comments)
    8. Sign the Petition for Clemency for Ross Ulbricht, Serving Double Life for a Website (663 points, 227 comments)
    9. I just bet 1,000 BTC (~$4M USD) that Segwit 2X coin will have more value than Segwit 1x coin. (644 points, 398 comments)
    10. If you think consumers are going to throw away $100’s (and soon $1000’s) on transaction fees to open up a payment channel on the Lightning network, you are delusional. (599 points, 219 comments)
  3. 12737 points, 26 submissions: hunk_quark
    1. Censored! Youtube removes Roger Ver's video on "The effects of Censorship and Propaganda upon Bitcoin" (1002 points, 296 comments)
    2. CNBC is waking up (886 points, 144 comments)
    3. Despite massing brigading from bitcoin and core, @Bitcoin twitter account has gained 50k subscribers since it came out in support of BCH last week. (627 points, 197 comments)
    4. Warren Buffet's Berkshire is the single largest stockholder in BoA and WellsFargo. In case you were wondering about his attitude towards Bitcoin. (619 points, 113 comments)
    5. Bitfinex defines Bitcoin Cash as the coin that fulfills the original promise of p2p cash, a bitcoin upgrade that is ready to scale and sound money! #Winning (599 points, 164 comments)
    6. Wouldn't wanna be this shopper. (581 points, 124 comments)
    7. GDAX enabling EUBCH trading pair next week. #winning 🎆 (572 points, 66 comments)
    8. Thank to this community's effort, Forbes has corrected Kyle's Torpey's LN article to clarify LTC tx fees is much higher than BCH. Now let's ask for 1 more correction: Bitcoin cash is not Bcash. Links in comments. (508 points, 173 comments)
    9. Elizabeth Stark of Lightning labs calls out Blockstream on letting users tinker with LN that's neither safe nor ready for mainnet. (490 points, 266 comments)
    10. The $2000 tip for Bitcoin ABC dev shows we don't need blockstream to pay our developers, we can do community funding through tippr! (463 points, 131 comments)
  4. 12410 points, 23 submissions: BitcoinXio
    1. /bitcoin is censoring the NIST report that says "Bitcoin Cash is the original blockchain" and Bitcoin Core is not. If you have to censor to get people to believe you, then you have lost. (855 points, 496 comments)
    2. Free_Ross on Twitter: "ALL charges of murder-for-hire vs. Ross are now dropped. After almost 5 years, gov't has moved to dismiss final MD indictment based on evidence from corrupt agent now in prison." (759 points, 211 comments)
    3. Someone hacked the account todu which was a mod here to point users to /bitcoin (732 points, 259 comments)
    4. Former /cryptocurrency mod: "I used to be a mod of cryptocurrency until they kicked me out. Now, that sub, is controlled all by mods with accounts less than 7 months old!" (724 points, 214 comments)
    5. Congrats: /btc has reached 150,000 subscribers! (696 points, 356 comments)
    6. Twitter continues to go downhill - flags @Bitcoin account as ‘temporarily restricted due to unusual activity’ (635 points, 216 comments)
    7. There is a huge edit war on Wikipedia where trolls like the user "Jtbobwaysf" are trying very hard to inject the word "bcash" into Bitcoin Cash pages and reverting/editing other pages that speak factually poorly on topics such as Lightning Network, Segwit, etc. (622 points, 148 comments)
    8. What /bitcoin mods desperately don't want you to see! (601 points, 104 comments)
    9. /btc is trending on reddit today, congrats everyone! (586 points, 18 comments)
    10. Bitcoin Cash is upgrading on May 15 to 32MB max block limit (579 points, 334 comments)
  5. 11766 points, 16 submissions: BeijingBitcoins
    1. Average Bitcoin transaction fee is now above five dollars. 80% of the world population lives on less than $10 a day. So much for "banking the unbanked." (3417 points, 463 comments)
    2. Dear Reddit Admins: We need to talk about /Bitcoin (1342 points, 280 comments)
    3. Paid for this whisky with Bitcoin Cash! Ginza bar becomes third Tokyo retail establishment to accept BCC (747 points, 60 comments)
    4. Samson Mow says Bitcoin isn't for people earning less than $2 a day. With average transaction fees now at $27.20, is Bitcoin even for people earning less than $100 a day? (659 points, 160 comments)
    5. Protip: If you are new to Bitcoin and cryptocurrency in general, you really should read the document that started it all, the Bitcoin whitepaper [PDF] (642 points, 69 comments)
    6. With the public spotlight on Reddit censorship, now would be the perfect time to let the rest of Reddit know about the censorship on /bitcoin (641 points, 121 comments)
    7. /Bitcoin in a nutshell (531 points, 68 comments)
    8. Three years ago today, Mike Hearn published an article explaining exactly what would happen when the 1MB blocksize limit was hit. He was right on all counts. (483 points, 168 comments)
    9. Shit, they're on to us (449 points, 65 comments)
    10. "Am I so out of touch?" (443 points, 164 comments)
  6. 9301 points, 2 submissions: censorship_notifier
    1. Evidence that the mods of /Bitcoin may have been involved with the hacking and vote manipulation "attack" on /Bitcoin. (8585 points, 1166 comments)
    2. New anti-censorship bot for /bitcoin (716 points, 345 comments)
  7. 7980 points, 16 submissions: increaseblocks
    1. No Neo I'm trying to tell you ... (706 points, 77 comments)
    2. Blockstream is falling apart - Greg Maxwell resigns - Blockstream takes down team page in a hurry to reorg team - Adam Back must be worried (675 points, 492 comments)
    3. * Ripple is not mineable (it is a centralized private blockchain run by banks) (622 points, 254 comments)
    4. rBitcoin moderator confesses and comes clean that Blockstream is only trying to make a profit by exploiting Bitcoin and pushing users off chain onto sidechains (578 points, 188 comments)
    5. Blockstream investor emails leaked - shows Blockstream motivation to steal transaction fees from miners and pay to Liquid sidechain customers (539 points, 250 comments)
    6. Fixed - Bitcoin Cash moving money far better. SegWitCoin moving money with high fees and slow confirmation times! (532 points, 105 comments)
    7. Vitalik Buterin says what we've all been saying - CoinDesk is scammy and complicit bad actor in the cryptocurrency world and should be shunned (505 points, 59 comments)
    8. "Blockstream plans to sell side chains to enterprises, charging a fixed monthly fee, taking transaction fees and even selling hardware" source- Adam Back Blockstream CEO (498 points, 143 comments)
    9. Coinbase comes through and does the correct thing and adds clarification on the upcoming Segwit2x Fork (454 points, 194 comments)
    10. Core trolls have hard decisions to make (437 points, 140 comments)
  8. 7772 points, 1 submission: PedanticPendant
    1. The idiocracy of bitcoin (7772 points, 750 comments)
  9. 7763 points, 13 submissions: jessquit
    1. You can now store a year's worth of continuously full 8MB blocks for the cost of a single BTC transaction (1378 points, 386 comments)
    2. There never was a "scaling problem." The only problem is "people that don't want Bitcoin to scale." (772 points, 419 comments)
    3. Please stop saying "Increase the block size" (660 points, 449 comments)
    4. [PSA] If your Bitcoin are not ready-to-transact in a wallet whose keys you exclusively control, then you don't control your Bitcoin (622 points, 215 comments)
    5. Why us old-school Bitcoiners argue that Bitcoin Cash should be considered "the real Bitcoin" (587 points, 586 comments)
    6. I think we need an EDA fix before the Nov hardfork (541 points, 345 comments)
    7. Why large blocks: because one man's "coffee purchase transaction" is another man's monthly income (501 points, 104 comments)
    8. This sub is under major attack (494 points, 319 comments)
    9. There is a word for a "store of value" with no underlying utility, and that word is "collectible" (481 points, 169 comments)
    10. Ripple user comes to defend Ripple, gets hundreds of upvotes, but can't answer the most fundamental question: what prevents inflation? (459 points, 404 comments)
  10. 7400 points, 16 submissions: Windowly
    1. "If BCH hashpower > BTC, I'll start referring to it as just 'Bitcoin' :" ~ Gavin on twitter (778 points, 238 comments)
    2. You want to go grab a coffee?? (642 points, 413 comments)
    3. "I guess my idea of "freedom from corrupt banks" didn't include transaction fees that forced 99% of the world's population to keep using banks."~Erik Voorhees (603 points, 122 comments)
    4. "Bitcoin needs multiple clients and independent developer groups. There were 0-days in Microsoft Windows for two decades despite billions spent on development. Cut new teams some slack as they ramp up." ~Cornell Professor and Bitcoin researcher Emin Gün Sirer (506 points, 91 comments)
    5. "With recent developments, I'm putting all available dev resources to retool my software for #Bitcoin Cash. I suspect I'm far from alone."~Rick Falkvinge (Pirate Party) (493 points, 134 comments)
    6. "We've tested Bitcoin Cash vs Lightning Network and... LN feels so unnecessary and over-complicated. Also, still more expensive than Bitcoin Cash fees - and that's not taking into account the $3 fees each way you open or close a $50 channel. Also two different balances? Confusing" ~ HandCash (461 points, 252 comments)
    7. That Awkward Moment. . . . (429 points, 129 comments)
    8. "There was an entire mall in 2013 to 2015 in Berlin that accepted Bitcoin. This stopped when fees rose. There was wide adoption once. Fees kill use"~Dr. Craig S. Wright (424 points, 150 comments)
    9. Bitcoin Cash finally released on Open Bazaar! (420 points, 36 comments)
    10. "Billion-dollar corporations take note: Bitcoin Cash is open for business! Just try to fill up our blocks, I dare you. There will be no "Fidelity Effect" with BCH. Unlike BTC, we want you to use the Blockchain. BCH never really hits a scale ceiling."~Dr. Peter Rizun (413 points, 177 comments)
  11. 6980 points, 1 submission: boomtnt46
    1. As of today, Steam will no longer support Bitcoin as a payment method (6980 points, 1178 comments)
  12. 6385 points, 9 submissions: rdar1999
    1. South Koreans sign petition (100k signatures) to reject ban proposal and 30k signatures asking to FIRE the Justice Minister and the Finance Minister for market manipulation. Crypto is winning!! (1863 points, 117 comments)
    2. BREAKING NEWS: South Korean Government confirms NO CRYPTO BAN. What they will do is to enforce regulations, anti money laundering task force, anti market manipulation, the usual stuff. (1085 points, 51 comments)
    3. Friendly reminder: Vitalik "I consider BCH a legitimate contender for the bitcoin name." (794 points, 181 comments)
    4. Shutting down or restricting the uses of bank accounts, thereby forbidding clients to buy crypto, is a blatant affront to the rights of civil liberty, manifested, but not limited to, in the rights to private property and free speech (562 points, 262 comments)
    5. GDAX: Bitcoin Cash Launch Retrospective -- trades were halted after 3 minutes because THE STASH DRIED OUT DUE TO AN AVALANCHE OF BUY ORDERS (485 points, 162 comments)
    6. While Jamie Dimon is shutting down your accounts, Russia’s largest State Bank is about to open cryptocurrency exchange In europe (439 points, 38 comments)
    7. Flippening: blockexplorer.com says: "We have made the decision to support the only bitcoin fork with a postive utility momentum, which is Bitcoin Cash.(...) We will not add future support for the Blockstream fork of bitcoin ("Bitcoin Legacy"), and will be deprecating it entirely " (428 points, 110 comments)
    8. National Institute of Standards and Technology confirm: "Bitcoin Core (BTC) is a fork and Bitcoin Cash (BCH) is the real Bitcoin" p.43 para 8.1.2 (372 points, 115 comments)
    9. TABGATE==> the astroturfing/hired shills scandal. Adam Back let it slip he hires full-time teams of social media shills/trolls. Just read! (357 points, 271 comments)
  13. 6162 points, 7 submissions: normal_rc
    1. Legacy Bitcoin tries to buy a cup of coffee (2305 points, 499 comments)
    2. WARNING: Brutal scam. Guy buys a Ledger Nano wallet on Ebay, and it steals all his cryptocurrency ($34,000, which is his life's savings). (1479 points, 522 comments)
    3. How the Bilderberg Group, the Federal Reserve central bank, and MasterCard took over Bitcoin BTC. (589 points, 220 comments)
    4. Cryptocurrency usually automatically downvotes any pro-BCH thread into oblivion. But I got my CoinText.io post to trend to #3 on their front page, by simply not saying "Bitcoin Cash". Proof that people would love BCH if they kept an open mind. (542 points, 202 comments)
    5. Tor Project can accept small donations again, thanks to Bitcoin Cash. (458 points, 35 comments)
    6. 100,000+ Merchants Start Accepting Bitcoin Cash. More than 100,000 BitPay merchants are now accepting Bitcoin Cash with the option seemingly automatically turned on for all of them. (416 points, 108 comments)
    7. Bitpay announcement: Electron Cash wallet now fully supports Bitpay BIP70 payment invoices for Bitcoin Cash. (373 points, 37 comments)
  14. 6023 points, 12 submissions: BitcoinIsTehFuture
    1. “Graphene” is a new Bitcoin block propagation technology that is 10x more efficient than Core’s “Compact Blocks”! Created by: Gavin Andresen, A. Pinar Ozisik, George Bissias, Amir Houmansadr, Brian Neil Levine. (717 points, 224 comments)
    2. Just so you guys know: Ethereum just had another successful hardfork network upgrade. Blockstream is wrong when they say you cannot hard fork to improve things. (655 points, 398 comments)
    3. Western Union vs. Bitcoin vs. Bitcoin Cash (625 points, 102 comments)
    4. This was an orchestrated attack. (574 points, 373 comments)
    5. It's called "Bitcoin Cash". The term "Bcash" is a social attack run by bitcoin. Not joking. Here is the full explanation, with proof. (567 points, 310 comments)
    6. On a reply I made in bitcoin that had over 350 upvotes, I was first somehow blocked from being able to reply on bitcoin and then actually banned when I edited my comment to state that I was blocked from replying. (502 points, 99 comments)
    7. The /bitconnect subreddit just got set to private! Bitconnect experienced a 90% drop, from over $300 down to $26! The scam has gone belly up at last! (447 points, 168 comments)
    8. Bitcoin Core Dev "Luke-jr" is asked why he is interested in Bitcoin. This is one of the main people in charge of Bitcoin right now. (405 points, 383 comments)
    9. I believe Bitcoin Core/Blockstream is now attempting to infiltrate Bitcoin Cash in the same manner that they did with Bitcoin Segwit. They are suddenly befriending Bitcoin Cash. Only in that way can they destroy from within. Do not be fooled. (401 points, 166 comments)
    10. #NOTX (390 points, 56 comments)
  15. 5329 points, 1 submission: 11111101000
    1. Buy, sell, send and receive Bitcoin Cash on Coinbase (5329 points, 1019 comments)
  16. 5147 points, 2 submissions: peptocurrency
    1. Guess who controls over half a billion Tethers across 3 exchanges—over 73% of USDT currently in circulation. (4748 points, 635 comments)
    2. Dear Bitcoin: You're right. BTC has been attacked. (399 points, 107 comments)
  17. 5098 points, 9 submissions: btcnewsupdates
    1. Starbucks CEO Wants Crypto. Considering All Currencies Except Bitcoin Core (BTC): "It is not a currency today nor will it be in the future” (820 points, 218 comments)
    2. Roger Ver: "Dear @reddit, [...] I'll pay you $100,000 USD if you simply appoint a moderator to /Bitcoin who supports free speech." (804 points, 424 comments)
    3. Hundreds of botted accounts mixed with some real ones simultaneously post "Bitcoin Cash is Trash" on twitter. Blockstream reaching sheer desperation status. (719 points, 281 comments)
    4. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! (591 points, 115 comments)
    5. ProtonMail asking for community assistance to enable Bitcoin Cash payments (538 points, 86 comments)
    6. WooCommerce brings Bitcoin Cash (BCH) to its 380,000 online retailers. (474 points, 98 comments)
    7. A Bitcoin Entrepreneur Jonathan Hamel knowingly misleads a Canadian Parliamentary committee to smear Bitcoin Cash (BCH). More Lawlessness from Bitcoin/Lightning (399 points, 193 comments)
    8. Largest Sports Gambling Site in the World, Bovada, now Accepts BCH. Billions of dollars in transactions a year (388 points, 60 comments)
    9. Bitcoin Cash support on OpenBazaar now live (365 points, 43 comments)
  18. 4698 points, 7 submissions: cryptorebel
    1. You have $100 worth of BTC. So you purchase an item for $66, but have to pay a $17 fee. Now you have $17 worth of Bitcoin left, but it costs $17 more to move it. So $66 item effectively cost you $100. #Thanks BlockStream (1420 points, 433 comments)
    2. President of SBI Holdings: "The vision of the original Bitcoin white paper written by Satoshi Nakamoto calls for a peer-to-peer electronic cash system. That is a powerful vision, and SBI Group will devote resources to enable a future world where Bitcoin Cash is used globally for daily payments." (843 points, 81 comments)
    3. They used to use Bitcoin... (738 points, 176 comments)
    4. Elizabeth Stark of Lightning Labs admits that a hostile actor can steal funds in LN unless you broadcast a transaction on-chain with a cryptographic proof that recovers the funds. This means LN won't work without a block size limit increase. @8min17s (494 points, 433 comments)
    5. CEO of Bitcoin.com Roger Ver challenges Samson Mow to a debate once again, will Samson refuse again? The reason small blockers do not debate and need censorship is because they know their arguments cannot stand up to scrutiny. (426 points, 208 comments)
    6. Update from BitGo: "Due to strong customer interest BitGo will enable full support of Bitcoin Cash" (407 points, 25 comments)
    7. BitPay CEO hints at possible Bitcoin Cash acceptance: "We do listen to our customers and for quite some time their number 1 complaint has been the high fees and slow confirmation times. We really don't like to pre-announce things though. Things move fast and plans can change at the last minute. " (370 points, 73 comments)
  19. 4339 points, 6 submissions: Anenome5
    1. Government: "Cryptocurrencies are too risky." Also government: "Buy lottery tickets." (1296 points, 139 comments)
    2. Death of a Scamcoin: Bitconnect's front page screenshotted moments before they went private, showing panic, anger, and lots of ill-advised investment claims, several claiming to have lost over $100k (948 points, 309 comments)
    3. Let's End the War and focus on the TRUE ENEMY (730 points, 349 comments)
    4. Archive.org has received over twice as many donations ($4800) in Bitcoincash as compared to BTC. This is how we win. (552 points, 157 comments)
    5. Segwhat? Gavin Andresen has developed a new block propagation algorithm able to compress the block down to 1/10th of the size of a Compact Block (Core's technology) using bloom filters called GRAPHENE. 10 times larger blocks, no size increase! 1mb 10mb, 8mb - 80mb, etc. (413 points, 181 comments)
    6. Remember Ross Ulbricht: Dread Pirate Roberts and the Silk Road experiment (400 points, 217 comments)
  20. 3746 points, 8 submissions: knight222
    1. PSA: /bitcoin IS UNDER ATTACK (761 points, 260 comments)
    2. /btc is trending! (528 points, 63 comments)
    3. Bitstamp To Launch Bitcoin Cash Trading (487 points, 80 comments)
    4. Mycelium.com on Twitter: "We support whatever will allow bitcoin to remain censorship resistant. For now that's only possible with bigger blocks." (442 points, 39 comments)
    5. CBS is referring the new chain as "Bitcoin Cash" and the old chain as "Bitcoin Classic". Ahah (421 points, 121 comments)
    6. Bitcoin cash (BCH) price could lead to bitcoin "death spiral" - Quartz (375 points, 55 comments)
    7. Bitcoin Cash just destroyed the narrative of a contentious hard fork. There is nothing contentious with free choice. (369 points, 114 comments)
    8. Bitcoin Cash support expected in the next Mycelium release! (363 points, 84 comments)
  21. 3550 points, 6 submissions: singularity87
    1. I am stepping down as a moderator of btc and exiting the bitcoin community and entering the Ethereum community. (1110 points, 482 comments)
    2. Now that the debate is over, lets finally make some progress forward. We are starting a marketing fund to expand Bitcoin Cash adoption. (722 points, 211 comments)
    3. Bitcoin Cash Logo Animation GIF. Feel free to use. (562 points, 83 comments)
    4. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. (440 points, 270 comments)
    5. Now that REAL consensus is forming, be ready for Core to offer a 2MB hardfork as a last ditch effort to retain their power. DO NOT GIVE IN! (363 points, 179 comments)
    6. btc now has ~50% of the active users of Bitcoin. At this rate btc will soon be the dominant bitcoin subreddit. (353 points, 55 comments)

Top Commenters

  1. jessquit (17415 points, 1759 comments)
  2. H0dl (8425 points, 1127 comments)
  3. knight222 (7888 points, 810 comments)
  4. ForkiusMaximus (7755 points, 700 comments)
  5. MemoryDealers (7539 points, 197 comments)
  6. tippr (7348 points, 2740 comments)
  7. Ant-n (7224 points, 965 comments)
  8. BeijingBitcoins (6072 points, 459 comments)
  9. BitcoinXio (5984 points, 320 comments)
  10. BitcoinIsTehFuture (5845 points, 516 comments)
  11. imaginary_username (5762 points, 471 comments)
  12. Adrian-X (5748 points, 1069 comments)
  13. LexGrom (5224 points, 1592 comments)
  14. cryptorebel (4869 points, 464 comments)
  15. Egon_1 (4769 points, 368 comments)
  16. awemany (4738 points, 643 comments)
  17. Kain_niaK (4561 points, 692 comments)
  18. BitttBurger (4410 points, 525 comments)
  19. PsyRev_ (4176 points, 477 comments)
  20. Bitcoinopoly (4002 points, 414 comments)
  21. poorbrokebastard (3986 points, 719 comments)
  22. vbuterin (3840 points, 22 comments)
  23. Shock_The_Stream (3769 points, 437 comments)
  24. todu (3692 points, 266 comments)
  25. Richy_T (3626 points, 847 comments)
  26. LovelyDay (3595 points, 332 comments)
  27. shadowofashadow (3498 points, 383 comments)
  28. rdar1999 (3475 points, 456 comments)
  29. btcnewsupdates (3403 points, 328 comments)
  30. KoKansei (3286 points, 198 comments)
  31. jonald_fyookball (3219 points, 251 comments)
  32. 1s44c (3186 points, 619 comments)
  33. nanoakron (2989 points, 113 comments)
  34. NilacTheGrim (2925 points, 440 comments)
  35. singularity87 (2746 points, 240 comments)
  36. Vibr8gKiwi (2594 points, 148 comments)
  37. jstolfi (2541 points, 263 comments)
  38. esquonk (2532 points, 2 comments)
  39. fiah84 (2496 points, 289 comments)
  40. unitedstatian (2445 points, 451 comments)
  41. MobTwo (2372 points, 147 comments)
  42. chernobyl169 (2353 points, 199 comments)
  43. kairepaire (2280 points, 17 comments)
  44. ShadowOfHarbringer (2272 points, 206 comments)
  45. playfulexistence (2241 points, 99 comments)
  46. LiamGaughan (2240 points, 83 comments)
  47. redlightsaber (2238 points, 328 comments)
  48. we-are-all-satoshi (2201 points, 39 comments)
  49. Annapurna317 (2198 points, 223 comments)
  50. MagicalTux (2153 points, 114 comments)

Top Submissions

  1. Evidence that the mods of /Bitcoin may have been involved with the hacking and vote manipulation "attack" on /Bitcoin. by censorship_notifier (8585 points, 1166 comments)
  2. The idiocracy of bitcoin by PedanticPendant (7772 points, 750 comments)
  3. As of today, Steam will no longer support Bitcoin as a payment method by boomtnt46 (6980 points, 1178 comments)
  4. Buy, sell, send and receive Bitcoin Cash on Coinbase by 11111101000 (5329 points, 1019 comments)
  5. bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" by Egon_1 (4810 points, 506 comments)
  6. Guess who controls over half a billion Tethers across 3 exchanges—over 73% of USDT currently in circulation. by peptocurrency (4748 points, 635 comments)
  7. Average Bitcoin transaction fee is now above five dollars. 80% of the world population lives on less than $10 a day. So much for "banking the unbanked." by BeijingBitcoins (3417 points, 463 comments)
  8. Latest projections show BTC will break the time space continuum by cryptopicker (3292 points, 146 comments)
  9. Two biggest Bitcoin subs according to their counterparts (posted on both subs) by themetalfriend (3135 points, 232 comments)
  10. rBitcoin logic: Cashing out? You should kill yourself instead by DrunkPanda (2918 points, 560 comments)

Top Comments

  1. 2527 points: esquonk's comment in As of today, Steam will no longer support Bitcoin as a payment method
  2. 2289 points: nanoakron's comment in Evidence that the mods of /Bitcoin may have been involved with the hacking and vote manipulation "attack" on /Bitcoin.
  3. 2025 points: kairepaire's comment in As of today, Steam will no longer support Bitcoin as a payment method
  4. 2018 points: vbuterin's comment in "So no worries, Ethereum's long term value is still ~0." -Greg Maxwell, CTO of Blockstream and opponent of allowing Bitcoin to scale as Satoshi had planned.
  5. 1215 points: vbuterin's comment in Vitalik Buterin tried to develop Ethereum on top of Bitcoin, but was stalled because the developers made it hard to build on top of Bitcoin. Vitalik only then built Ethereum as a separate currency
  6. 1211 points: LiamGaughan's comment in As of today, Steam will no longer support Bitcoin as a payment method
  7. 1184 points: anothertimewaster's comment in Evidence that the mods of /Bitcoin may have been involved with the hacking and vote manipulation "attack" on /Bitcoin.
  8. 1180 points: TacoPi's comment in Buy, sell, send and receive Bitcoin Cash on Coinbase
  9. 962 points: insanityzwolf's comment in bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do"
  10. 868 points: SethEllis's comment in As of today, Steam will no longer support Bitcoin as a payment method
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Bitcoin Core 0.10.0 released | Wladimir | Feb 16 2015

Wladimir on Feb 16 2015:
Bitcoin Core version 0.10.0 is now available from:
https://bitcoin.org/bin/0.10.0/
This is a new major version release, bringing both new features and
bug fixes.
Please report bugs using the issue tracker at github:
https://github.com/bitcoin/bitcoin/issues
The whole distribution is also available as torrent:
https://bitcoin.org/bin/0.10.0/bitcoin-0.10.0.torrent
magnet:?xt=urn:btih:170c61fe09dafecfbb97cb4dccd32173383f4e68&dn;=0.10.0&tr;=udp%3A%2F%2Ftracker.openbittorrent.com%3A80%2Fannounce&tr;=udp%3A%2F%2Ftracker.publicbt.com%3A80%2Fannounce&tr;=udp%3A%2F%2Ftracker.ccc.de%3A80%2Fannounce&tr;=udp%3A%2F%2Ftracker.coppersurfer.tk%3A6969&tr;=udp%3A%2F%2Fopen.demonii.com%3A1337&ws;=https%3A%2F%2Fbitcoin.org%2Fbin%2F
Upgrading and downgrading

How to Upgrade
If you are running an older version, shut it down. Wait until it has completely
shut down (which might take a few minutes for older versions), then run the
installer (on Windows) or just copy over /Applications/Bitcoin-Qt (on Mac) or
bitcoind/bitcoin-qt (on Linux).
Downgrading warning
Because release 0.10.0 makes use of headers-first synchronization and parallel
block download (see further), the block files and databases are not
backwards-compatible with older versions of Bitcoin Core or other software:
  • Blocks will be stored on disk out of order (in the order they are
received, really), which makes it incompatible with some tools or
other programs. Reindexing using earlier versions will also not work
anymore as a result of this.
  • The block index database will now hold headers for which no block is
stored on disk, which earlier versions won't support.
If you want to be able to downgrade smoothly, make a backup of your entire data
directory. Without this your node will need start syncing (or importing from
bootstrap.dat) anew afterwards. It is possible that the data from a completely
synchronised 0.10 node may be usable in older versions as-is, but this is not
supported and may break as soon as the older version attempts to reindex.
This does not affect wallet forward or backward compatibility.
Notable changes

Faster synchronization
Bitcoin Core now uses 'headers-first synchronization'. This means that we first
ask peers for block headers (a total of 27 megabytes, as of December 2014) and
validate those. In a second stage, when the headers have been discovered, we
download the blocks. However, as we already know about the whole chain in
advance, the blocks can be downloaded in parallel from all available peers.
In practice, this means a much faster and more robust synchronization. On
recent hardware with a decent network link, it can be as little as 3 hours
for an initial full synchronization. You may notice a slower progress in the
very first few minutes, when headers are still being fetched and verified, but
it should gain speed afterwards.
A few RPCs were added/updated as a result of this:
  • getblockchaininfo now returns the number of validated headers in addition to
the number of validated blocks.
  • getpeerinfo lists both the number of blocks and headers we know we have in
common with each peer. While synchronizing, the heights of the blocks that we
have requested from peers (but haven't received yet) are also listed as
'inflight'.
  • A new RPC getchaintips lists all known branches of the block chain,
including those we only have headers for.
Transaction fee changes
This release automatically estimates how high a transaction fee (or how
high a priority) transactions require to be confirmed quickly. The default
settings will create transactions that confirm quickly; see the new
'txconfirmtarget' setting to control the tradeoff between fees and
confirmation times. Fees are added by default unless the 'sendfreetransactions'
setting is enabled.
Prior releases used hard-coded fees (and priorities), and would
sometimes create transactions that took a very long time to confirm.
Statistics used to estimate fees and priorities are saved in the
data directory in the fee_estimates.dat file just before
program shutdown, and are read in at startup.
New command line options for transaction fee changes:
  • -txconfirmtarget=n : create transactions that have enough fees (or priority)
so they are likely to begin confirmation within n blocks (default: 1). This setting
is over-ridden by the -paytxfee option.
  • -sendfreetransactions : Send transactions as zero-fee transactions if possible
(default: 0)
New RPC commands for fee estimation:
  • estimatefee nblocks : Returns approximate fee-per-1,000-bytes needed for
a transaction to begin confirmation within nblocks. Returns -1 if not enough
transactions have been observed to compute a good estimate.
  • estimatepriority nblocks : Returns approximate priority needed for
a zero-fee transaction to begin confirmation within nblocks. Returns -1 if not
enough free transactions have been observed to compute a good
estimate.
RPC access control changes
Subnet matching for the purpose of access control is now done
by matching the binary network address, instead of with string wildcard matching.
For the user this means that -rpcallowip takes a subnet specification, which can be
  • a single IP address (e.g. 1.2.3.4 or fe80::0012:3456:789a:bcde)
  • a network/CIDR (e.g. 1.2.3.0/24 or fe80::0000/64)
  • a network/netmask (e.g. 1.2.3.4/255.255.255.0 or fe80::0012:3456:789a:bcde/ffff:ffff:ffff:ffff:ffff:ffff:ffff:ffff)
An arbitrary number of -rpcallow arguments can be given. An incoming connection will be accepted if its origin address
matches one of them.
For example:
| 0.9.x and before | 0.10.x |
|--------------------------------------------|---------------------------------------|
| -rpcallowip=192.168.1.1 | -rpcallowip=192.168.1.1 (unchanged) |
| -rpcallowip=192.168.1.* | -rpcallowip=192.168.1.0/24 |
| -rpcallowip=192.168.* | -rpcallowip=192.168.0.0/16 |
| -rpcallowip=* (dangerous!) | -rpcallowip=::/0 (still dangerous!) |
Using wildcards will result in the rule being rejected with the following error in debug.log:
 Error: Invalid -rpcallowip subnet specification: *. Valid are a single IP (e.g. 1.2.3.4), a network/netmask (e.g. 1.2.3.4/255.255.255.0) or a network/CIDR (e.g. 1.2.3.4/24). 
REST interface
A new HTTP API is exposed when running with the -rest flag, which allows
unauthenticated access to public node data.
It is served on the same port as RPC, but does not need a password, and uses
plain HTTP instead of JSON-RPC.
Assuming a local RPC server running on port 8332, it is possible to request:
In every case, EXT can be bin (for raw binary data), hex (for hex-encoded
binary) or json.
For more details, see the doc/REST-interface.md document in the repository.
RPC Server "Warm-Up" Mode
The RPC server is started earlier now, before most of the expensive
intialisations like loading the block index. It is available now almost
immediately after starting the process. However, until all initialisations
are done, it always returns an immediate error with code -28 to all calls.
This new behaviour can be useful for clients to know that a server is already
started and will be available soon (for instance, so that they do not
have to start it themselves).
Improved signing security
For 0.10 the security of signing against unusual attacks has been
improved by making the signatures constant time and deterministic.
This change is a result of switching signing to use libsecp256k1
instead of OpenSSL. Libsecp256k1 is a cryptographic library
optimized for the curve Bitcoin uses which was created by Bitcoin
Core developer Pieter Wuille.
There exist attacks[1] against most ECC implementations where an
attacker on shared virtual machine hardware could extract a private
key if they could cause a target to sign using the same key hundreds
of times. While using shared hosts and reusing keys are inadvisable
for other reasons, it's a better practice to avoid the exposure.
OpenSSL has code in their source repository for derandomization
and reduction in timing leaks that we've eagerly wanted to use for a
long time, but this functionality has still not made its
way into a released version of OpenSSL. Libsecp256k1 achieves
significantly stronger protection: As far as we're aware this is
the only deployed implementation of constant time signing for
the curve Bitcoin uses and we have reason to believe that
libsecp256k1 is better tested and more thoroughly reviewed
than the implementation in OpenSSL.
[1] https://eprint.iacr.org/2014/161.pdf
Watch-only wallet support
The wallet can now track transactions to and from wallets for which you know
all addresses (or scripts), even without the private keys.
This can be used to track payments without needing the private keys online on a
possibly vulnerable system. In addition, it can help for (manual) construction
of multisig transactions where you are only one of the signers.
One new RPC, importaddress, is added which functions similarly to
importprivkey, but instead takes an address or script (in hexadecimal) as
argument. After using it, outputs credited to this address or script are
considered to be received, and transactions consuming these outputs will be
considered to be sent.
The following RPCs have optional support for watch-only:
getbalance, listreceivedbyaddress, listreceivedbyaccount,
listtransactions, listaccounts, listsinceblock, gettransaction. See the
RPC documentation for those methods for more information.
Compared to using getrawtransaction, this mechanism does not require
-txindex, scales better, integrates better with the wallet, and is compatible
with future block chain pruning functionality. It does mean that all relevant
addresses need to added to the wallet before the payment, though.
Consensus library
Starting from 0.10.0, the Bitcoin Core distribution includes a consensus library.
The purpose of this library is to make the verification functionality that is
critical to Bitcoin's consensus available to other applications, e.g. to language
bindings such as [python-bitcoinlib](https://pypi.python.org/pypi/python-bitcoinlib) or
alternative node implementations.
This library is called libbitcoinconsensus.so (or, .dll for Windows).
Its interface is defined in the C header [bitcoinconsensus.h](https://github.com/bitcoin/bitcoin/blob/0.10/src/script/bitcoinconsensus.h).
In its initial version the API includes two functions:
  • bitcoinconsensus_verify_script verifies a script. It returns whether the indicated input of the provided serialized transaction
correctly spends the passed scriptPubKey under additional constraints indicated by flags
  • bitcoinconsensus_version returns the API version, currently at an experimental 0
The functionality is planned to be extended to e.g. UTXO management in upcoming releases, but the interface
for existing methods should remain stable.
Standard script rules relaxed for P2SH addresses
The IsStandard() rules have been almost completely removed for P2SH
redemption scripts, allowing applications to make use of any valid
script type, such as "n-of-m OR y", hash-locked oracle addresses, etc.
While the Bitcoin protocol has always supported these types of script,
actually using them on mainnet has been previously inconvenient as
standard Bitcoin Core nodes wouldn't relay them to miners, nor would
most miners include them in blocks they mined.
bitcoin-tx
It has been observed that many of the RPC functions offered by bitcoind are
"pure functions", and operate independently of the bitcoind wallet. This
included many of the RPC "raw transaction" API functions, such as
createrawtransaction.
bitcoin-tx is a newly introduced command line utility designed to enable easy
manipulation of bitcoin transactions. A summary of its operation may be
obtained via "bitcoin-tx --help" Transactions may be created or signed in a
manner similar to the RPC raw tx API. Transactions may be updated, deleting
inputs or outputs, or appending new inputs and outputs. Custom scripts may be
easily composed using a simple text notation, borrowed from the bitcoin test
suite.
This tool may be used for experimenting with new transaction types, signing
multi-party transactions, and many other uses. Long term, the goal is to
deprecate and remove "pure function" RPC API calls, as those do not require a
server round-trip to execute.
Other utilities "bitcoin-key" and "bitcoin-script" have been proposed, making
key and script operations easily accessible via command line.
Mining and relay policy enhancements
Bitcoin Core's block templates are now for version 3 blocks only, and any mining
software relying on its getblocktemplate must be updated in parallel to use
libblkmaker either version 0.4.2 or any version from 0.5.1 onward.
If you are solo mining, this will affect you the moment you upgrade Bitcoin
Core, which must be done prior to BIP66 achieving its 951/1001 status.
If you are mining with the stratum mining protocol: this does not affect you.
If you are mining with the getblocktemplate protocol to a pool: this will affect
you at the pool operator's discretion, which must be no later than BIP66
achieving its 951/1001 status.
The prioritisetransaction RPC method has been added to enable miners to
manipulate the priority of transactions on an individual basis.
Bitcoin Core now supports BIP 22 long polling, so mining software can be
notified immediately of new templates rather than having to poll periodically.
Support for BIP 23 block proposals is now available in Bitcoin Core's
getblocktemplate method. This enables miners to check the basic validity of
their next block before expending work on it, reducing risks of accidental
hardforks or mining invalid blocks.
Two new options to control mining policy:
  • -datacarrier=0/1 : Relay and mine "data carrier" (OP_RETURN) transactions
if this is 1.
  • -datacarriersize=n : Maximum size, in bytes, we consider acceptable for
"data carrier" outputs.
The relay policy has changed to more properly implement the desired behavior of not
relaying free (or very low fee) transactions unless they have a priority above the
AllowFreeThreshold(), in which case they are relayed subject to the rate limiter.
BIP 66: strict DER encoding for signatures
Bitcoin Core 0.10 implements BIP 66, which introduces block version 3, and a new
consensus rule, which prohibits non-DER signatures. Such transactions have been
non-standard since Bitcoin v0.8.0 (released in February 2013), but were
technically still permitted inside blocks.
This change breaks the dependency on OpenSSL's signature parsing, and is
required if implementations would want to remove all of OpenSSL from the
consensus code.
The same miner-voting mechanism as in BIP 34 is used: when 751 out of a
sequence of 1001 blocks have version number 3 or higher, the new consensus
rule becomes active for those blocks. When 951 out of a sequence of 1001
blocks have version number 3 or higher, it becomes mandatory for all blocks.
Backward compatibility with current mining software is NOT provided, thus miners
should read the first paragraph of "Mining and relay policy enhancements" above.
0.10.0 Change log

Detailed release notes follow. This overview includes changes that affect external
behavior, not code moves, refactors or string updates.
RPC:
  • f923c07 Support IPv6 lookup in bitcoin-cli even when IPv6 only bound on localhost
  • b641c9c Fix addnode "onetry": Connect with OpenNetworkConnection
  • 171ca77 estimatefee / estimatepriority RPC methods
  • b750cf1 Remove cli functionality from bitcoind
  • f6984e8 Add "chain" to getmininginfo, improve help in getblockchaininfo
  • 99ddc6c Add nLocalServices info to RPC getinfo
  • cf0c47b Remove getwork() RPC call
  • 2a72d45 prioritisetransaction
  • e44fea5 Add an option -datacarrier to allow users to disable relaying/mining data carrier transactions
  • 2ec5a3d Prevent easy RPC memory exhaustion attack
  • d4640d7 Added argument to getbalance to include watchonly addresses and fixed errors in balance calculation
  • 83f3543 Added argument to listaccounts to include watchonly addresses
  • 952877e Showing 'involvesWatchonly' property for transactions returned by 'listtransactions' and 'listsinceblock'. It is only appended when the transaction involves a watchonly address
  • d7d5d23 Added argument to listtransactions and listsinceblock to include watchonly addresses
  • f87ba3d added includeWatchonly argument to 'gettransaction' because it affects balance calculation
  • 0fa2f88 added includedWatchonly argument to listreceivedbyaddress/...account
  • 6c37f7f getrawchangeaddress: fail when keypool exhausted and wallet locked
  • ff6a7af getblocktemplate: longpolling support
  • c4a321f Add peerid to getpeerinfo to allow correlation with the logs
  • 1b4568c Add vout to ListTransactions output
  • b33bd7a Implement "getchaintips" RPC command to monitor blockchain forks
  • 733177e Remove size limit in RPC client, keep it in server
  • 6b5b7cb Categorize rpc help overview
  • 6f2c26a Closely track mempool byte total. Add "getmempoolinfo" RPC
  • aa82795 Add detailed network info to getnetworkinfo RPC
  • 01094bd Don't reveal whether password is <20 or >20 characters in RPC
  • 57153d4 rpc: Compute number of confirmations of a block from block height
  • ff36cbe getnetworkinfo: export local node's client sub-version string
  • d14d7de SanitizeString: allow '(' and ')'
  • 31d6390 Fixed setaccount accepting foreign address
  • b5ec5fe update getnetworkinfo help with subversion
  • ad6e601 RPC additions after headers-first
  • 33dfbf5 rpc: Fix leveldb iterator leak, and flush before gettxoutsetinfo
  • 2aa6329 Enable customising node policy for datacarrier data size with a -datacarriersize option
  • f877aaa submitblock: Use a temporary CValidationState to determine accurately the outcome of ProcessBlock
  • e69a587 submitblock: Support for returning specific rejection reasons
  • af82884 Add "warmup mode" for RPC server
  • e2655e0 Add unauthenticated HTTP REST interface to public blockchain data
  • 683dc40 Disable SSLv3 (in favor of TLS) for the RPC client and server
  • 44b4c0d signrawtransaction: validate private key
  • 9765a50 Implement BIP 23 Block Proposal
  • f9de17e Add warning comment to getinfo
Command-line options:
  • ee21912 Use netmasks instead of wildcards for IP address matching
  • deb3572 Add -rpcbind option to allow binding RPC port on a specific interface
  • 96b733e Add -version option to get just the version
  • 1569353 Add -stopafterblockimport option
  • 77cbd46 Let -zapwallettxes recover transaction meta data
  • 1c750db remove -tor compatibility code (only allow -onion)
  • 4aaa017 rework help messages for fee-related options
  • 4278b1d Clarify error message when invalid -rpcallowip
  • 6b407e4 -datadir is now allowed in config files
  • bdd5b58 Add option -sysperms to disable 077 umask (create new files with system default umask)
  • cbe39a3 Add "bitcoin-tx" command line utility and supporting modules
  • dbca89b Trigger -alertnotify if network is upgrading without you
  • ad96e7c Make -reindex cope with out-of-order blocks
  • 16d5194 Skip reindexed blocks individually
  • ec01243 --tracerpc option for regression tests
  • f654f00 Change -genproclimit default to 1
  • 3c77714 Make -proxy set all network types, avoiding a connect leak
  • 57be955 Remove -printblock, -printblocktree, and -printblockindex
  • ad3d208 remove -maxorphanblocks config parameter since it is no longer functional
Block and transaction handling:
  • 7a0e84d ProcessGetData(): abort if a block file is missing from disk
  • 8c93bf4 LoadBlockIndexDB(): Require block db reindex if any blk*.dat files are missing
  • 77339e5 Get rid of the static chainMostWork (optimization)
  • 4e0eed8 Allow ActivateBestChain to release its lock on cs_main
  • 18e7216 Push cs_mains down in ProcessBlock
  • fa126ef Avoid undefined behavior using CFlatData in CScript serialization
  • 7f3b4e9 Relax IsStandard rules for pay-to-script-hash transactions
  • c9a0918 Add a skiplist to the CBlockIndex structure
  • bc42503 Use unordered_map for CCoinsViewCache with salted hash (optimization)
  • d4d3fbd Do not flush the cache after every block outside of IBD (optimization)
  • ad08d0b Bugfix: make CCoinsViewMemPool support pruned entries in underlying cache
  • 5734d4d Only remove actualy failed blocks from setBlockIndexValid
  • d70bc52 Rework block processing benchmark code
  • 714a3e6 Only keep setBlockIndexValid entries that are possible improvements
  • ea100c7 Reduce maximum coinscache size during verification (reduce memory usage)
  • 4fad8e6 Reject transactions with excessive numbers of sigops
  • b0875eb Allow BatchWrite to destroy its input, reducing copying (optimization)
  • 92bb6f2 Bypass reloading blocks from disk (optimization)
  • 2e28031 Perform CVerifyDB on pcoinsdbview instead of pcoinsTip (reduce memory usage)
  • ab15b2e Avoid copying undo data (optimization)
  • 341735e Headers-first synchronization
  • afc32c5 Fix rebuild-chainstate feature and improve its performance
  • e11b2ce Fix large reorgs
  • ed6d1a2 Keep information about all block files in memory
  • a48f2d6 Abstract context-dependent block checking from acceptance
  • 7e615f5 Fixed mempool sync after sending a transaction
  • 51ce901 Improve chainstate/blockindex disk writing policy
  • a206950 Introduce separate flushing modes
  • 9ec75c5 Add a locking mechanism to IsInitialBlockDownload to ensure it never goes from false to true
  • 868d041 Remove coinbase-dependant transactions during reorg
  • 723d12c Remove txn which are invalidated by coinbase maturity during reorg
  • 0cb8763 Check against MANDATORY flags prior to accepting to mempool
  • 8446262 Reject headers that build on an invalid parent
  • 008138c Bugfix: only track UTXO modification after lookup
P2P protocol and network code:
  • f80cffa Do not trigger a DoS ban if SCRIPT_VERIFY_NULLDUMMY fails
  • c30329a Add testnet DNS seed of Alex Kotenko
  • 45a4baf Add testnet DNS seed of Andreas Schildbach
  • f1920e8 Ping automatically every 2 minutes (unconditionally)
  • 806fd19 Allocate receive buffers in on the fly
  • 6ecf3ed Display unknown commands received
  • aa81564 Track peers' available blocks
  • caf6150 Use async name resolving to improve net thread responsiveness
  • 9f4da19 Use pong receive time rather than processing time
  • 0127a9b remove SOCKS4 support from core and GUI, use SOCKS5
  • 40f5cb8 Send rejects and apply DoS scoring for errors in direct block validation
  • dc942e6 Introduce whitelisted peers
  • c994d2e prevent SOCKET leak in BindListenPort()
  • a60120e Add built-in seeds for .onion
  • 60dc8e4 Allow -onlynet=onion to be used
  • 3a56de7 addrman: Do not propagate obviously poor addresses onto the network
  • 6050ab6 netbase: Make SOCKS5 negotiation interruptible
  • 604ee2a Remove tx from AlreadyAskedFor list once we receive it, not when we process it
  • efad808 Avoid reject message feedback loops
  • 71697f9 Separate protocol versioning from clientversion
  • 20a5f61 Don't relay alerts to peers before version negotiation
  • b4ee0bd Introduce preferred download peers
  • 845c86d Do not use third party services for IP detection
  • 12a49ca Limit the number of new addressses to accumulate
  • 35e408f Regard connection failures as attempt for addrman
  • a3a7317 Introduce 10 minute block download timeout
  • 3022e7d Require sufficent priority for relay of free transactions
  • 58fda4d Update seed IPs, based on bitcoin.sipa.be crawler data
  • 18021d0 Remove bitnodes.io from dnsseeds.
Validation:
  • 6fd7ef2 Also switch the (unused) verification code to low-s instead of even-s
  • 584a358 Do merkle root and txid duplicates check simultaneously
  • 217a5c9 When transaction outputs exceed inputs, show the offending amounts so as to aid debugging
  • f74fc9b Print input index when signature validation fails, to aid debugging
  • 6fd59ee script.h: set_vch() should shift a >32 bit value
  • d752ba8 Add SCRIPT_VERIFY_SIGPUSHONLY (BIP62 rule 2) (test only)
  • 698c6ab Add SCRIPT_VERIFY_MINIMALDATA (BIP62 rules 3 and 4) (test only)
  • ab9edbd script: create sane error return codes for script validation and remove logging
  • 219a147 script: check ScriptError values in script tests
  • 0391423 Discourage NOPs reserved for soft-fork upgrades
  • 98b135f Make STRICTENC invalid pubkeys fail the script rather than the opcode
  • 307f7d4 Report script evaluation failures in log and reject messages
  • ace39db consensus: guard against openssl's new strict DER checks
  • 12b7c44 Improve robustness of DER recoding code
  • 76ce5c8 fail immediately on an empty signature
Build system:
  • f25e3ad Fix build in OS X 10.9
  • 65e8ba4 build: Switch to non-recursive make
  • 460b32d build: fix broken boost chrono check on some platforms
  • 9ce0774 build: Fix windows configure when using --with-qt-libdir
  • ea96475 build: Add mention of --disable-wallet to bdb48 error messages
  • 1dec09b depends: add shared dependency builder
  • c101c76 build: Add --with-utils (bitcoin-cli and bitcoin-tx, default=yes). Help string consistency tweaks. Target sanity check fix
  • e432a5f build: add option for reducing exports (v2)
  • 6134b43 Fixing condition 'sabotaging' MSVC build
  • af0bd5e osx: fix signing to make Gatekeeper happy (again)
  • a7d1f03 build: fix dynamic boost check when --with-boost= is used
  • d5fd094 build: fix qt test build when libprotobuf is in a non-standard path
  • 2cf5f16 Add libbitcoinconsensus library
  • 914868a build: add a deterministic dmg signer
  • 2d375fe depends: bump openssl to 1.0.1k
  • b7a4ecc Build: Only check for boost when building code that requires it
Wallet:
  • b33d1f5 Use fee/priority estimates in wallet CreateTransaction
  • 4b7b1bb Sanity checks for estimates
  • c898846 Add support for watch-only addresses
  • d5087d1 Use script matching rather than destination matching for watch-only
  • d88af56 Fee fixes
  • a35b55b Dont run full check every time we decrypt wallet
  • 3a7c348 Fix make_change to not create half-satoshis
  • f606bb9 fix a possible memory leak in CWalletDB::Recover
  • 870da77 fix possible memory leaks in CWallet::EncryptWallet
  • ccca27a Watch-only fixes
  • 9b1627d [Wallet] Reduce minTxFee for transaction creation to 1000 satoshis
  • a53fd41 Deterministic signing
  • 15ad0b5 Apply AreSane() checks to the fees from the network
  • 11855c1 Enforce minRelayTxFee on wallet created tx and add a maxtxfee option
GUI:
  • c21c74b osx: Fix missing dock menu with qt5
  • b90711c Fix Transaction details shows wrong To:
  • 516053c Make links in 'About Bitcoin Core' clickable
  • bdc83e8 Ensure payment request network matches client network
  • 65f78a1 Add GUI view of peer information
  • 06a91d9 VerifyDB progress reporting
  • fe6bff2 Add BerkeleyDB version info to RPCConsole
  • b917555 PeerTableModel: Fix potential deadlock. #4296
  • dff0e3b Improve rpc console history behavior
  • 95a9383 Remove CENT-fee-rule from coin control completely
  • 56b07d2 Allow setting listen via GUI
  • d95ba75 Log messages with type>QtDebugMsg as non-debug
  • 8969828 New status bar Unit Display Control and related changes
  • 674c070 seed OpenSSL PNRG with Windows event data
  • 509f926 Payment request parsing on startup now only changes network if a valid network name is specified
  • acd432b Prevent balloon-spam after rescan
  • 7007402 Implement SI-style (thin space) thoudands separator
  • 91cce17 Use fixed-point arithmetic in amount spinbox
  • bdba2dd Remove an obscure option no-one cares about
  • bd0aa10 Replace the temporary file hack currently used to change Bitcoin-Qt's dock icon (OS X) with a buffer-based solution
  • 94e1b9e Re-work overviewpage UI
  • 8bfdc9a Better looking trayicon
  • b197bf3 disable tray interactions when client model set to 0
  • 1c5f0af Add column Watch-only to transactions list
  • 21f139b Fix tablet crash. closes #4854
  • e84843c Broken addresses on command line no longer trigger testnet
  • a49f11d Change splash screen to normal window
  • 1f9be98 Disable App Nap on OSX 10.9+
  • 27c3e91 Add proxy to options overridden if necessary
  • 4bd1185 Allow "emergency" shutdown during startup
  • d52f072 Don't show wallet options in the preferences menu when running with -disablewallet
  • 6093aa1 Qt: QProgressBar CPU-Issue workaround
  • 0ed9675 [Wallet] Add global boolean whether to send free transactions (default=true)
  • ed3e5e4 [Wallet] Add global boolean whether to pay at least the custom fee (default=true)
  • e7876b2 [Wallet] Prevent user from paying a non-sense fee
  • c1c9d5b Add Smartfee to GUI
  • e0a25c5 Make askpassphrase dialog behave more sanely
  • 94b362d On close of splashscreen interrupt verifyDB
  • b790d13 English translation update
  • 8543b0d Correct tooltip on address book page
Tests:
  • b41e594 Fix script test handling of empty scripts
  • d3a33fc Test CHECKMULTISIG with m == 0 and n == 0
  • 29c1749 Let tx (in)valid tests use any SCRIPT_VERIFY flag
  • 6380180 Add rejection of non-null CHECKMULTISIG dummy values
  • 21bf3d2 Add tests for BoostAsioToCNetAddr
  • b5ad5e7 Add Python test for -rpcbind and -rpcallowip
  • 9ec0306 Add CODESEPARATOFindAndDelete() tests
  • 75ebced Added many rpc wallet tests
  • 0193fb8 Allow multiple regression tests to run at once
  • 92a6220 Hook up sanity checks
  • 3820e01 Extend and move all crypto tests to crypto_tests.cpp
  • 3f9a019 added list/get received by address/ account tests
  • a90689f Remove timing-based signature cache unit test
  • 236982c Add skiplist unit tests
  • f4b00be Add CChain::GetLocator() unit test
  • b45a6e8 Add test for getblocktemplate longpolling
  • cdf305e Set -discover=0 in regtest framework
  • ed02282 additional test for OP_SIZE in script_valid.json
  • 0072d98 script tests: BOOLAND, BOOLOR decode to integer
  • 833ff16 script tests: values that overflow to 0 are true
  • 4cac5db script tests: value with trailing 0x00 is true
  • 89101c6 script test: test case for 5-byte bools
  • d2d9dc0 script tests: add tests for CHECKMULTISIG limits
  • d789386 Add "it works" test for bitcoin-tx
  • df4d61e Add bitcoin-tx tests
  • aa41ac2 Test IsPushOnly() with invalid push
  • 6022b5d Make script_{valid,invalid}.json validation flags configurable
  • 8138cbe Add automatic script test generation, and actual checksig tests
  • ed27e53 Add coins_tests with a large randomized CCoinViewCache test
  • 9df9cf5 Make SCRIPT_VERIFY_STRICTENC compatible with BIP62
  • dcb9846 Extend getchaintips RPC test
  • 554147a Ensure MINIMALDATA invalid tests can only fail one way
  • dfeec18 Test every numeric-accepting opcode for correct handling of the numeric minimal encoding rule
  • 2b62e17 Clearly separate PUSHDATA and numeric argument MINIMALDATA tests
  • 16d78bd Add valid invert of invalid every numeric opcode tests
  • f635269 tests: enable alertnotify test for Windows
  • 7a41614 tests: allow rpc-tests to get filenames for bitcoind and bitcoin-cli from the environment
  • 5122ea7 tests: fix forknotify.py on windows
  • fa7f8cd tests: remove old pull-tester scripts
  • 7667850 tests: replace the old (unused since Travis) tests with new rpc test scripts
  • f4e0aef Do signature-s negation inside the tests
  • 1837987 Optimize -regtest setgenerate block generation
  • 2db4c8a Fix node ranges in the test framework
  • a8b2ce5 regression test only setmocktime RPC call
  • daf03e7 RPC tests: create initial chain with specific timestamps
  • 8656dbb Port/fix txnmall.sh regression test
  • ca81587 Test the exact order of CHECKMULTISIG sig/pubkey evaluation
  • 7357893 Prioritize and display -testsafemode status in UI
  • f321d6b Add key generation/verification to ECC sanity check
  • 132ea9b miner_tests: Disable checkpoints so they don't fail the subsidy-change test
  • bc6cb41 QA RPC tests: Add tests block block proposals
  • f67a9ce Use deterministically generated script tests
  • 11d7a7d [RPC] add rpc-test for http keep-alive (persistent connections)
  • 34318d7 RPC-test based on invalidateblock for mempool coinbase spends
  • 76ec867 Use actually valid transactions for script tests
  • c8589bf Add actual signature tests
  • e2677d7 Fix smartfees test for change to relay policy
  • 263b65e tests: run sanity checks in tests too
Miscellaneous:
  • 122549f Fix incorrect checkpoint data for testnet3
  • 5bd02cf Log used config file to debug.log on startup
  • 68ba85f Updated Debian example bitcoin.conf with config from wiki + removed some cruft and updated comments
  • e5ee8f0 Remove -beta suffix
  • 38405ac Add comment regarding experimental-use service bits
  • be873f6 Issue warning if collecting RandSeed data failed
  • 8ae973c Allocate more space if necessary in RandSeedAddPerfMon
  • 675bcd5 Correct comment for 15-of-15 p2sh script size
  • fda3fed libsecp256k1 integration
  • 2e36866 Show nodeid instead of addresses in log (for anonymity) unless otherwise requested
  • cd01a5e Enable paranoid corruption checks in LevelDB >= 1.16
  • 9365937 Add comment about never updating nTimeOffset past 199 samples
  • 403c1bf contrib: remove getwork-based pyminer (as getwork API call has been removed)
  • 0c3e101 contrib: Added systemd .service file in order to help distributions integrate bitcoind
  • 0a0878d doc: Add new DNSseed policy
  • 2887bff Update coding style and add .clang-format
  • 5cbda4f Changed LevelDB cursors to use scoped pointers to ensure destruction when going out of scope
  • b4a72a7 contrib/linearize: split output files based on new-timestamp-year or max-file-size
  • e982b57 Use explicit fflush() instead of setvbuf()
  • 234bfbf contrib: Add init scripts and docs for Upstart and OpenRC
  • 01c2807 Add warning about the merkle-tree algorithm duplicate txid flaw
  • d6712db Also create pid file in non-daemon mode
  • 772ab0e contrib: use batched JSON-RPC in linarize-hashes (optimization)
  • 7ab4358 Update bash-completion for v0.10
  • 6e6a36c contrib: show pull # in prompt for github-merge script
  • 5b9f842 Upgrade leveldb to 1.18, make chainstate databases compatible between ARM and x86 (issue #2293)
  • 4e7c219 Catch UTXO set read errors and shutdown
  • 867c600 Catch LevelDB errors during flush
  • 06ca065 Fix CScriptID(const CScript& in) in empty script case
Credits

Thanks to everyone who contributed to this release:
  • 21E14
  • Adam Weiss
  • Aitor Pazos
  • Alexander Jeng
  • Alex Morcos
  • Alon Muroch
  • Andreas Schildbach
  • Andrew Poelstra
  • Andy Alness
  • Ashley Holman
  • Benedict Chan
  • Ben Holden-Crowther
  • Bryan Bishop
  • BtcDrak
  • Christian von Roques
  • Clinton Christian
  • Cory Fields
  • Cozz Lovan
  • daniel
  • Daniel Kraft
  • David Hill
  • Derek701
  • dexX7
  • dllud
  • Dominyk Tiller
  • Doug
  • elichai
  • elkingtowa
  • ENikS
  • Eric Shaw
  • Federico Bond
  • Francis GASCHET
  • Gavin Andresen
  • Giuseppe Mazzotta
  • Glenn Willen
  • Gregory Maxwell
  • gubatron
  • HarryWu
  • himynameismartin
  • Huang Le
  • Ian Carroll
  • imharrywu
  • Jameson Lopp
  • Janusz Lenar
  • JaSK
  • Jeff Garzik
  • JL2035
  • Johnathan Corgan
  • Jonas Schnelli
  • jtimon
  • Julian Haight
  • Kamil Domanski
  • kazcw
  • kevin
  • kiwigb
  • Kosta Zertsekel
  • LongShao007
  • Luke Dashjr
  • Mark Friedenbach
  • Mathy Vanvoorden
  • Matt Corallo
  • Matthew Bogosian
  • Micha
  • Michael Ford
  • Mike Hearn
  • mrbandrews
  • mruddy
  • ntrgn
  • Otto Allmendinger
  • paveljanik
  • Pavel Vasin
  • Peter Todd
  • phantomcircuit
  • Philip Kaufmann
  • Pieter Wuille
  • pryds
  • randy-waterhouse
  • R E Broadley
  • Rose Toomey
  • Ross Nicoll
  • Roy Badami
  • Ruben Dario Ponticelli
  • Rune K. Svendsen
  • Ryan X. Charles
  • Saivann
  • sandakersmann
  • SergioDemianLerner
  • shshshsh
  • sinetek
  • Stuart Cardall
  • Suhas Daftuar
  • Tawanda Kembo
  • Teran McKinney
  • tm314159
  • Tom Harding
  • Trevin Hofmann
  • Whit J
  • Wladimir J. van der Laan
  • Yoichi Hirai
  • Zak Wilcox
As well as everyone that helped translating on [Transifex](https://www.transifex.com/projects/p/bitcoin/).
Also lots of thanks to the bitcoin.org website team David A. Harding and Saivann Carignan.
Wladimir
original: http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-February/007480.html
submitted by bitcoin-devlist-bot to bitcoin_devlist [link] [comments]

Bitcoins Erklärung: In nur 12 Min. Bitcoin verstehen ... Bitcoin Q&A: Sidechains and the security model BREAKING NEWS! I'm BACK From BRAZIL! Bitcoin BTC & Crypto Market is STRONG! Fed Printing + TAXES! Frag den Trainer! 32  IOTA Trinity Update! Bitcoin Bezahlungen anbieten und vieles mehr! Pomp Livestream: The Bitcoin Halving Presented by Gemini ...

There are 3 Reasons why Bitcoin is considered safe, here they are: 1. Bitcoin is encrypted and secure. Not just normal, run-of-the-mill encrypted. Bitcoin is encrypted and backed by a special system called a blockchain. Blockchain uses volunteers — a whole lot of them — to work together to encrypt the transactions that happen in the Bitcoin ... Block Id. 0 654109 confirmations. Time (UTC) 2009-01-03 18:15 (12 years ago) PDF receipt USD BTC. Input total 0.00000000 BTC; Transaction fee 0.00000000 BTC; Replace-by-fee (RBF) enabled? NO; Output total 50.00000000 BTC; Fee per byte 0 satoshi; Fee per vbyte 0 satoshi; Technical details. Input count / Output count 1 / 1; Size 204; Coindays destroyed 0.00; For developers. API docs Raw tx. Raw ... Block and Transaction Broadcasting With ZeroMQ ZeroMQ is a lightweight wrapper around TCP connections, inter-process communications, and shared-memory, providing various message-oriented semantics such as publish/subcribe, request/reply, and push/pull. The Bitcoin Core daemon can be configured to act as a trusted "border router", implementing the bitcoin wire protocol and relay, making ... Note: This is second part of a multi-part post and builds upon the work done in the first post.. In the last post, we took a block .dat file and analyzed it using hexdump. In the process, we learned the structure of a Bitcoin block. We also looked at the structure of transactions present in the block and analyzed the first transaction, which is also known as the coinbase transaction. Bitcoin Core has supported automatically pruning the blockchain since 0.11. Pruning the blockchain allows for significant storage space savings as the vast majority of the downloaded data can be discarded after processing so very little of it remains on the disk. Manual block pruning can now be enabled by setting -prune=1.

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