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|submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]|
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I've been wanting to start mining this for a long time, however I don't know of any way to make at least ~0.5 BTC without costly amounts of hardware which I simply can't buy.
Also, have people here heard of https://btcspinner.io/ ?
submitted by BetFury_io to u/BetFury_io [link] [comments]
All Betfurians are looking forward to the grand holiday. Very soon we will be celebrating the first year of our platform. To make this holiday memorable, we have created a Huge Bounty campaign for 15 mln BFG on BitcoinTalk! Prizes are waiting for you in all social networks: Twitter, Facebook, Instagram, TikTok, Telegram, YouTube, Reddit. More rewards for BitcoinTalk Signature & Articles in: Steemit, Reddit, Medium, Golos, Quora.
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Blog & Articlehttps://preview.redd.it/m6j6uq77wev51.png?width=1050&format=png&auto=webp&s=d71fbdfff7cd27295e993eb758588ffc7eeaa2c2
**Awards:** Jr Member: $2 per week in tokens = 75 BFG(TRX) + 75 BFG(BTC) Member: $5 per week in tokens = 165 BFG(TRX) + 165 BFG(BTC) Full Member: $10 per week in tokens = 325 BFG(TRX) + 325 BFG(BTC) Sr Member: $30 per week in tokens = 975 BFG(TRX) + 975 BFG(BTC) Hero and Legendary: $40 per week in tokens = 1300 BFG(TRX) + 1300 BFG(BTC)
The avatar is here. Signatures are here. *Monthly Bonus + Quarterly Bonus
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There will be enough gifts for everyone! Call your friends and participate together to share the fun of this holiday.
Link to the Website: https://betfury.io Link to the Telegram: http://t.me/betfury Link to the Twitter: https://twitter.com/betfury_io Link to the Telegram Channel: https://t.me/betfuryofficialchannel Link to the Steemit: https://steemit.com/@betfury-steem Link to Facebook: https://www.facebook.com/BetFury.io/ Link to Instagram: https://instagram.com/betfury.io Link to Reddit: https://www.reddit.com/useBetFury_io
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable??
submitted by j0j0r0 to ethereum [link] [comments]
Dragonchain Public Proposal TL;DR:Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.
Hello Reddit and Ethereum community!I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.
Executive summaryDragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.
Response and PoCIn The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.
A live proof of concept showing hundreds of thousands of transactionsOn Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.
How it works & scales
Architectural ScalingDragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.
Economic ScalingAn interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.
Scaled DeploymentDragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.
Flexibility in ScalingDragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table
How to run itBuilding on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
ArchitectureDragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.
APIs (on chain & off)
Known issues or tradeoffs
Costs and resources
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.
This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum
Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to considerDragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
Usability Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactionsDragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees
Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
Users should be able to view their balances & transactions via a blockchain explorer-style interfaceFrom interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.
Exiting is fast & simpleWithdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.
Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.
Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
Documentation should be clear and completeFor full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.
Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
TIMECommunity points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.
Dragon DenDragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.
Security. Users have full ownership & control of their points.All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone elseUsers can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone elseThrough our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offlineIf necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.
A public, third-party review attesting to the soundness of the design should be availableTo our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.
Bonus pointsSee above
Compatibility with HSMs & hardware walletsFor the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.
Minting/distributing tokens is not performed by Reddit directlyThis operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalableThis is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).
Fully open-source solutions are strongly preferredDragonchain is fully open source (see section on Disney release after conclusion).
ConclusionWhether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!
Disney Releases Blockchain Platform as Open SourceThe team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
Open SourceIn 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document
Dragonchain FoundationThe Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by Waykichain to WICCProject [link] [comments]
Technology & Products
Public Chain Development
· WASM AMPL contract debugging (100%)
· Research on WASM zero-knowledge proof anonymous transfer (50%)
· WASM Sushi contract coding (100%)
· WASM RPC iOS asynchronous library commissioning (100%)
· Verification of the signature push public key algorithm and testing its codability (C++, go) through RPC (100%)
· The new lock-up airdrop contract function: lock-up users can claim the unlocked assets by entering RegID (100%)
· Porting ASWAP contract to public chain 3.0, adding platform fee processing (100%)
· Optimization of Yield Farming contract reward distribution (100%)
· Optimization of Yield Farming contract penalty distribution mechanism (100%)
· Yield Farming contract testing (100%)
· Deployment and initial configuration of WICC and WGRT yield farming contracts and Wayki-X contract completed (100%)
· Ownership of issuance and transfer rights of the bottom-level token ROG transferred to Wayki-X contract (100%)
· The initial generation of ROG completed. 10.08M ROG entered the WICC pool, 2.52M ROG entered the WGRT pool (100%)
· The first 189,000 ROG was minted in Wayki-X contract for rewards by inflation (12.6M × 1.5%) (100%)
· Transfer of 70,000 ROG to AEX for Ecosystem Yield Farming completed (100%)
· WASM developer documentation: added detailed WASM table (Simplified Chinese) (100%)
· WASM developer documentation: added call of multiple contracts and multisignature transactions in WASM contract (Simplified Chinese) (100%)
· Yield Farming back end API (100%)
· Yield Farming front end page optimization (100%)
· Yield Farming front end localization (100%)
· Yield Farming pre-release initial API docking (100%)
· Yield Farming application testing (100%)
· Yield Farming application release (100%)
· xUSD & ROG added to Instant in WaykiTimes Android (100%)
· Memory leak issue fixed in Instant in WaykiTimes (100%)
· Data loading error when swiping in Discover fixed in WaykiTimes (100%)
· Data display optimized in Getting Started in WaykiTimes
· UI debugging of several pages in WaykiTimes (100%)
· WaykiTimes 3.0.4 released (100%)
· WaykiTimes Help Center released (100%)
· WaykiTimes Getting Started released (100%)
· WaykiTimes remember password function released (100%)
· WaykiTimes iOS App Store version tested (100%)
· Google crash analysis and testing added to WaykiTimes Android (100%)
· Solved the data loading issue when swiping in Wayki-X Synths (100%)
· Wayki-X price feed delay fixed (100%)
· Amount issue in the plug-in wallet fixed (100%)
· Display error of release contract type of universal transactions fixed on the blockchain explorer (100%)
· WASM contract display specifications for the blockchain explorer completed (100%)
· Development of the Coinbase integration project (wicc-rosetta-api) (85%)
Plan for October
Public Chain Development
· Research on WASM zero-knowledge proof anonymous transfer
· Correction of ASWAP contract proof of liquidity token generation rules
· ASWAP contract testing
· Docking of ASWAP contract with third parties
· Continuous updating of coind RPC interface documentation
· Trade — transaction details HTML5 page to native page transfer in WaykiTimes
· Development of the Coinbase integration project (wicc-rosetta-api)
· On September 4, Russian volunteers opened the second WaykiChain Russian group in Telegram: https://t.me/waykichainrussian.
· On September 6, WaykiChain opened the official community in Discord: https://discord.gg/XyAkqa.
· On September 6, WaykiChain CTO Richard Chen was invited to the Blockchain + Innovative Service and Industrial Application Conference and the China Chamber of International Commerce Blockchain Innovation Service Industry Committee Establishment Conference as a member of the expert group.
· On September 11, the famous US blockchain TV program Exploring the Block tweeted about WaykiChain, showing it is optimistic about the future development of the integrated DeFi ecology of WaykiChain.
· On September 11, the famous business platform Yahoo Finance released WaykiChain project information and announced that WaykiChain CEO Gordon Gao gives an interview to NASDAQ MarketSite’s Jane King on September 12.
· At 7:00 PM EDT on September 12, world’s largest financial channel Bloomberg TV reported that WaykiChain CEO Gordon Gao was interviewed by Jane King of NASDAQ MarketSite. The interview aired on Fox Business Network at 10:30 PM EDT on September 14.
· On September 12, cryptocurrency Twitter account Crypto Catalog tweeted about WaykiChain, showing it is optimistic about the future development of the integrated DeFi ecology of WaykiChain.
· On September 13, DeFi List added WaykiChain governance token WGRT.
· On September 13, WaykiChain reached market cooperation with the Indian blockchain influencer Gmadvice who started to serve as WaykiChain community manager in India.
· On September 16, WaykiChain released “WaykiChain Launches Phoenix Yield Farming with WICC/WGRT Dual-pool for ROG Genesis Issuance” on Twitter. Up to September 21, the news hit 2,400+ retweets.
· On September 17, the cryptocurrency influencer DeFi List retweeted “WaykiChain Launches Phoenix Yield Farming with WICC/WGRT Dual-pool for ROG Genesis Issuance”.
· On September 18, WaykiChain reached strategic market cooperation with the Korean crypto influencer Pantera who will help WaykiChain establish a broad and strong consensus in Korea.
· On September 19, “WaykiChain Dual-pool ROG Yield Farming Korean Group” community established.
· On September 20, the influencer Crypto Wendy retweeted “WaykiChain Launches Phoenix Yield Farming with WICC/WGRT Dual-pool for ROG Genesis Issuance”.
· On September 21, 130+ Korean media outlets published “WaykiChain Launches Phoenix Yield Farming with WICC & WGRT Dual-pool for ROG Genesis Issuance”.
· On September 23, WaykiChain co-founder and CEO Gordon Gao was invited to an AMA session with ICO Pantera Group, Korea’s top Telegram group (stats by u/combot), where he shared his insights into DeFi with 4,000+ Korean users and introduced WaykiChain’s ROG Genesis Yield Farming.
· On September 24, WaykiChain tweeted “ROG Genesis Yield Farming FAQ” and “Leave your question/problem toward WaykiTimes/Wayki-X/ROG Genesis Yield Farming in the Google forms below to share 800 WICC Giveaway!”, the number of engagements is 1,500+.
· On September 24, WaykiChain global partner Vincent Lionheart was invited to an AMA session to D’va Community.
· On September 24, The Business Telegraph, Bitcoin Garden, and other media published “WaykiChain Launches Phoenix Yield Farming with WICC & WGRT Dual-pool”.
· On September 24, WaykiChain tweeted the ROG Genesis Yield Farming Countdown. The news hit 1,000+ retweets.
· On September 25, ROG Genesis Yield Farming news was the day’s hit in Korea with 5,000+ views on Korean cryptocurrency forums.
· On September 1, CoinTiger listed WaykiChain governance token WGRT and opened the WGRT/USDT pair. WGRT net buy & hold competition started and the CoinTiger community joined a series of WGRT-themed challenges.
· On September 1, WaykiChain governance token WGRT successfully mapped to Ethereum and ERC-20 WGRT was created. The world’s largest DEX Uniswap officially supported it and listed the WGRT/USDT pair.
· On September 2, WaykiChain Strategic Analyst Jing Tao gave the speech “WGRT Dragon, Fly, Tiger, and Leap: Community Governance Upstart” to the MXC community and distributed 3 gold bars to the event participants.
· On September 7, WaykiChain Strategy Analyst Jing Tao attended [This Is Coin Coffee] live DeFi contest co-sponsored by Coinka, fogwu.com, and tuoniaox.com. WEDEX founder & CEO, Loopring co-founder Chen Xiaoliang and ChainNews Research Director Pan Zhixiong joined the event.
· On September 9, Gate.io selected WaykiChain governance token WGRT for the Listing Vote. Each voter had a chance to share an airdrop of 420,875.43 WGRT. WGRT passed the voting with 53,293,775 votes and was successfully listed on Gate.io.
· On September 10, WGRT/USDT trading pair and WGRT withdrawals opened on Gate.io.
· On September 10, WaykiChain released WaykiChain Governance Token WGRT Information and Addresses. The team announced that before July 1, 2021, WGRT circulating supply will be strictly controlled at 10% of the total supply, or 2.1 billion.
· On September 9 to 11, WaykiChain was invited to IoT World China & 5G China along with 400+ exhibitors including Huawei, Baidu, and Tencent. WaykiChain demonstrated the integrated public chain DeFi ecosystem that will help China’s digital construction.
· On September 11, WaykiChain Strategy Analyst Jing Tao was invited to the Bepal community and shared the speech “WaykiChain Governance Token WGRT: Accumulation and Breakout”. WaykiChain airdropped 3,000 WGRT and cash red envelopes to the Bepal community members.
· On September 12, WaykiChain Technology & Development Manager Yuanhang Xiao and Strategy Analyst Jing Tao introduced [New WaykiChain DeFi Product: Decentralized Synthetic Asset Issuance Protocol Wayki-X] in the official WaykiChain yizhibo account. During the live broadcast, WaykiChain distributed pure gold bars and branded gifts to lucky users.
· On September 13, WaykiChain co-founder & CEO Gordon Gao and Overseas Director Qiyuan Mei shared the speech “WaykiChain Opens the Era of Integrated DeFi Public Chains” in the Gate.io live broadcast room. Gate.io CPO Jiuer was the broadcast host. The guests explained WaykiChain’s DeFi strategy and revealed the launch of Yield Farming.
· On September 15, WaykiChain CEO Gordon Gao and BTC38 co-founder Tianwei Huang held the live stream titled “Eight Questions to Explain DeFi Trends and Opportunities” in yizhibo. The hosts analyzed the status and trends of DeFi, discussed DeFi deployment by public chains and exchanges, and new opportunities in synthetic asset trading. WaykiChain distributed pure gold bars and branded gifts to lucky viewers of the stream.
· On September 16, WaykiChain Strategy Analyst Jing Tao shared the speech titled “WaykiChain’s Integrated DeFi Ecosystem Layout” as the guest of btcmoney.cc.
· On September 18, Bying community invited WaykiChain Strategy Analyst Jing Tao to share the speech “New DeFi Opportunity: Phoenix Yield Farming”. WaykiChain held a WICC airdrop for Bying community members.
· On September 18, WaykiChain published the article “No Pre-mining, ICO, or Reserve! WaykiChain Launches Dual-pool Phoenix Yield Farming”.
· On September 19, WaykiChain published the article “Chapter 1. The Financial Innovation of Blockchain Reformation. The Origin, Logic, and Value of WaykiChain ROG” introducing the background of ROG, the operation mechanism of the decentralized synthetic asset system Wayki-X, and the value foundation of ROG in detail.
· On September 23, “No Pre-mining, ICO, or Reserve! WaykiChain ROG Genesis Farming and Early Release Guide” was released across Chinese media.
· On September 24, WaykiChain CEO Gordon Gao, CTO Richard Chen, and CPO Xi Zhang held a joint live stream on yizhibo explaining the future planning of WaykiChain decentralized synthetic asset issuance protocol Wayki-X, ROG, and WaykiChain DeFi in terms of business model, technology, and products. WaykiChain distributed 1 pure gold bar and 6 branded gifts to the lucky stream viewers.
· On September 24, Gate.io and WaykiChain launched the WGRT Investment Competition. The prizes are a BMW G 310 R motorcycle, a 13” MacBook Pro, a 10.2” iPad, 17 pure gold bars and 99,000 WGRT.
· On September 25, various Chinese media released “Wayki-X 101: WaykiChain Decentralized Synthetic Asset Protocol” introducing the functions and mechanism of the decentralized synthetic asset issuance protocol Wayki-X and the value of its token ROG in detail.
· On September 25, WaykiChain launched the “Looking for the Genesis Prophet” community event. The winners received 10 branded gifts.
· On September 25, WaykiChain ROG Genesis Yield Farming launched. WICC and WGRT pool quotas (5 million and 25 million, respectively) were full within just one hour.
· On September 25, WaykiChain reached ecosystem partnership with AEX. AEX became the first platform to join ROG Ecosystem Yield Farming.
· On September 25, WaykiChain partnered with Bying wallet. ROG Genesis Yield Farming is available in Bying wallet.
· On September 26, ROG, the main token of WaykiChain’s decentralized synthetic asset issuance protocol Wayki-X, was listed on AEX. ROG/USDT trading pair is available.
· On September 26, WaykiChain CEO Gordon Gao gave lectures “DeFi Financial Principles and Commercial Applications” and “DeFi Industry Panoramic Scan” at The First Offline Practical Training Camp of Hash Power University, Shanghai Station. Participants included Ontology founder Jun Li, Chainlink Labs — China Head Philip Fei, Digital Renaissance Foundation Managing Director Cao Yin, and Waterdrip Capital founding partner Zheng Yushan.
· On September 28, WaykiChain co-founder and CEO Gordon Gao was a guest at Hash Power Knowledge Base Private Meeting, Shenzhen Station where he shared the speech titled “Feasible Ways of DeFi Application Popularization”. Other guests included Ontology founder Jun Li, DeBank founder and CEO Tang Hongbo, and Huobi Research Chief Technical Researcher Tianyuan Ma.
submitted by sidhujag to ethereum [link] [comments]
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
SolutionsSyscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Syscoin + Matic IntegrationMatic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Proving Performance & Cost SavingsOur POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.
Cost SavingsTotal cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools, Infrastructure & Documentation
Syscoin BridgeMainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
APITools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
DocumentationSyscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence
Trade-offThe Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
CostEthereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Z-DAGZero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
APISyscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.
DocumentationZ-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana
Trade-offZ-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin SpecsSyscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
WalletsWeb3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
ExplorersMainnet: https://sys1.bcfn.ca (Blockbook)
Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!
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