Running Bitcoind – BitcoinWiki

WARNING: Bitcoin Cash May Introduce Fatal Errors

Hi All,
I am long-term Bitcoin enthusiast and a core developer of PascalCoin, an infinitely scalable and completely original cryptocurrency (https://www.pascalcoin.org). I am also the developer of BlockchainSQL.io, an SQL-backend for Bitcoin.
I have been involved in Bitcoin community for a long time, and was a big supporter of hard-forking on Aug 1 2017 (https://redd.it/6i5qt1).
Due to the recent alarming proposals and the method which they are being pushed, I feel I have a moral duty to speak out to warn against what could be fatal technical errors for BCH.
As a full-time core developer at PascalCoin for last 18 months, I have dealt with DoS attacks, 51% attacks, timewarp attacks, mining centralisation attacks, out-of-consensus bugs, high-orphan rates and various other issues. Suffice to say, Layer-1 cryptocurrency development is hard and you don't really appreciate how fragile everything this until you work on a cryptocurrency codebase and manage a live mainnet (disclaimer: Albert Molina is main genius here, but it is a team effort).
Infinite Block Size: I know there has been much discussion here about the safety of "big blocks", and I generally agree with those arguments. However, the analysis I've seen always assumes the attackers are economically rational actors. On that basis, yes, the laws of economics will incentivise miners to naturally regulate the size of minted blocks. However, this does not include "economically irrational actors" such as competing coins, governments, banks, etc.
Allowing the natural limit of 32mb I think was a sensible move, but adding changes to the network protocol to allow 128mb blocks and then more, does not seem appropriate right now since:
It makes much more sense to leave the blocksize at 32mb until blocks reach ~16mb at which point the technical, security and reliability issues can be better understood and a more informed decision can be made by the BCH community.
Re-Enabling Opcodes: It's important to remember that these opcodes were disabled by Satoshi Nakamoto himself early on in the project due to ongoing bugs and instability arising out of the scripting engine (https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures).
Later as the scripts became standardized, this issue was forgotten/abandoned since it would require a hard-fork to reactivate them and Core developers were against HF's. Personally, I think it's a good idea to re-enable them, but only after:
Infinite Script Size: One of the proposals I've seen that compliments re-enabling opcodes is to enable unbounded script sizes. From local discussions I've had with people promoting this idea, the "belief" is that miners will auto-regulate these as well. However, this is unproven.
Unbounded script-size introduce signficant attack-vectors in the areas of denial of service and stack/memory overflow (especially with all opcodes). One attack I can foresee here is the introduction of quadratic-hashing attack but inside a single transaction!
You have to understand that Ethereum had this problem from the onset and this is why they introduced the concept of "GAS". CPU power is a limited resource and if you don't pay for it, it will be completely abused. From what I've seen, there is no equivalent to GAS inside this proposal.
To understand the seriousness of this issue, think back to Ethereum's network instability before the DAO hacker. It went through many periods of DoS attacks as hackers cleverly found oversights in their opcode/EVM engine. This is a serious, proven and real-world attack-vector and not one to be "solved later". The BCH network could be brought to a grinding halt and easily with unbounded script sizes that do not pay any gas.
Voting/Signaling/Testnet: Even at PascalCoin, we go through a process of voting to enable all changes (https://www.pascalcoin.org/voting). We are barely a 10mill mcap coin and yet show more discipline with Voting, well-defined PIP design guidelines and Testnet releases. There is no excuse for BCH! It is a multi-billion dollar network and changes of this magnitude cannot be released so recklessly in such short time-frames.
I hope these comments are considered by stakeholders of BCH and the community at large. I am not a maximalist and support BCH, but the last week has revealed there is a serious technical void in BCH! The Bitcoin Core devs may not know much about economics, but they did know some things about security & reliability of cryptocurrency software.
PLEASE REMEMBER THERE ARE EXTREMELY TALENTED AND VICIOUS ATTACKERS OUT THERE and you need to be very careful with changes of this magnitude.
submitted by HermanSchoenfeld to btc [link] [comments]

Subreddit Stats: CryptoTechnology top posts from 2017-12-23 to 2020-01-20 15:51 PDT

Period: 758.36 days
Submissions Comments
Total 956 13660
Rate (per day) 1.26 18.01
Unique Redditors 584 3144
Combined Score 21553 44566

Top Submitters' Top Submissions

  1. 1166 points, 43 submissions: Neophyte-
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  2. 578 points, 16 submissions: crypto_ha
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  3. 513 points, 20 submissions: ndha1995
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  4. 377 points, 16 submissions: turtleflax
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  5. 321 points, 6 submissions: Qwahzi
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  6. 256 points, 4 submissions: rockyrainy
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  7. 244 points, 3 submissions: HSPremier
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  8. 234 points, 2 submissions: Realness100
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  9. 185 points, 4 submissions: tracyspacygo
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  10. 177 points, 9 submissions: benmdi
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  11. 175 points, 9 submissions: galan77
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    2. TPS of Lightning Network vs. Sharding, which one does better? (28 points, 7 comments)
    3. Are there any major downsides to sharding? (21 points, 33 comments)
    4. What's the difference between trustlessness and permissionlessness (19 points, 7 comments)
    5. Which consensus algorithm is the best, PoW, PoS, PoAuthority, PoAsset? (18 points, 57 comments)
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    8. Pascalcoin can do 72,000 tps apparently. Is this legit? The new Nano? (8 points, 39 comments)
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  12. 175 points, 1 submission: ilielezi
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  13. 165 points, 6 submissions: CryptoMaximalist
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  15. 163 points, 7 submissions: QRCollector
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  17. 157 points, 7 submissions: SamsungGalaxyPlayer
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  18. 147 points, 1 submission: shunsaitakahashi
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  19. 146 points, 6 submissions: themoderndayhercules
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  20. 143 points, 7 submissions: KomodoWorld
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  21. 141 points, 8 submissions: Stormy1997
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  22. 141 points, 3 submissions: seventyfiver
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  23. 134 points, 6 submissions: johnny_milkshakes
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  24. 127 points, 4 submissions: sukitrebek
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    4. Holochain vs. Radix DLT (10 points, 11 comments)
  25. 126 points, 1 submission: RufusTheFirefly
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  26. 112 points, 1 submission: rocksolid77
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  28. 107 points, 1 submission: NewDietTrend
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  29. 105 points, 1 submission: insette
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  30. 103 points, 3 submissions: dtheme
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  31. 103 points, 3 submissions: dvnielng
    1. Why do so many of these businesses need a token? (Unsure) (61 points, 86 comments)
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  32. 101 points, 1 submission: kickso
    1. Is NANO everything it says it is? (101 points, 96 comments)
  33. 98 points, 3 submissions: heart_mind_body
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    2. Can anyone give an example for a technology that provides a "public permissioned blockchain"? (28 points, 16 comments)
    3. Can we do a discussion on ICON and "clusters of private chains connected to a public chain" ? (14 points, 13 comments)
  34. 97 points, 8 submissions: kelraku
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    2. Has anyone looked at the lelantus protocol? (18 points, 6 comments)
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  35. 96 points, 6 submissions: blockstasy
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    3. Ethereum by the Numbers – The Year of 2019 (26 points, 9 comments)
    4. Knowledge Drop: Mining and the role it plays with the Ethereum blockchain (5 points, 0 comments)
    5. A great article that explains Ethereum’s Muir Glacier Update (4 points, 0 comments)
    6. Youtube Silences Crypto Community (2 points, 6 comments)
  36. 93 points, 3 submissions: OneOverNever
    1. Which is the last WHITE PAPER you've read that's truly impacted you? (77 points, 81 comments)
    2. [CMV] Bitcoin's intrinsic technological value. (14 points, 29 comments)
    3. What are some weak points that still hold XVG back from becoming a top player in crypto? (Technically speaking, not marketing and etc.) (2 points, 19 comments)
  37. 93 points, 3 submissions: ryano-ark
    1. (ARK) ACES Completes Integration of ARK Channels for Two-way Transfers for Easy ICOs When Paired With ARK Deployer (Push-Button-Blockchains) (57 points, 5 comments)
    2. (ARK) ACES Releases Fast (Ansible) Deployments for all ACES Applications. (23 points, 4 comments)
    3. A Future of Cryptocurrencies and Blockchains (13 points, 3 comments)
  38. 92 points, 2 submissions: BobUltra
    1. Our blockchains are all centralized! (51 points, 34 comments)
    2. List of qualities needed to dethrone Bitcoin. (41 points, 43 comments)
  39. 90 points, 1 submission: refreshx2
    1. CMV: It doesn't make sense for (crypto)companies to create coins linked to their tech (90 points, 18 comments)
  40. 89 points, 1 submission: perceptron01
    1. What does Nano do better than Steem? (89 points, 55 comments)
  41. 87 points, 1 submission: Shuk
    1. How does one begin to develop an employable skill in blockchain development? (87 points, 25 comments)
  42. 87 points, 1 submission: conorohiggins
    1. I spent three weeks researching and writing a huge guide to stablecoins. Enjoy! (87 points, 36 comments)
  43. 86 points, 1 submission: Bacon_Hero
    1. ELI5: Why did it take so long for blockchain technology to be created? (86 points, 66 comments)
  44. 85 points, 3 submissions: theFoot58
    1. If crypto now is like 'the Internet' of the past, where are we? (65 points, 53 comments)
    2. If the Internet had its Genesis Block, what would it be? (14 points, 9 comments)
    3. Coin grouping - ruby and CryptoCompare API (6 points, 1 comment)
  45. 85 points, 1 submission: youngm2
    1. Which decentralised exchange has the most promise for 2018? (85 points, 89 comments)
  46. 84 points, 4 submissions: bLbGoldeN
    1. On Mass Adoption of Cryptocurrencies (28 points, 68 comments)
    2. Join the Bloom team for our first tech AMA tomorrow (Tuesday, March 13th) at 7 PM GMT! (23 points, 2 comments)
    3. Join the Decred team for an AMA - Friday, June 1st from 19:00 to 22:00 UTC (17 points, 10 comments)
    4. Join the district0x team for an AMA Monday, April 2nd at 5:00 PM (GMT) (16 points, 0 comments)
  47. 82 points, 2 submissions: SubsequentDownfall
    1. Has a 51% attack ever been witnessed? (45 points, 46 comments)
    2. Is a DAG coin like RaiBlocks able to be private like Monero? (37 points, 40 comments)
  48. 82 points, 2 submissions: guidre
    1. Tron and other source Code (42 points, 24 comments)
    2. Why Will companies adopt blockchain, the user interface is complex and i'm not sure that many companies want all their internal dealings made public. (40 points, 19 comments)
  49. 81 points, 4 submissions: solar128
    1. New Atomic Swap Tools Released (35 points, 4 comments)
    2. Using Blockchain to make a censorship-resistant Reddit (28 points, 14 comments)
    3. Best security practices for addressing Spectre & Meltdown (13 points, 0 comments)
    4. Influence of on-chain governance weighted by wealth - good or bad? (5 points, 2 comments)
  50. 81 points, 2 submissions: Blockchainsapiens
    1. Blockchain study finds 0.00% success rate and vendors don't call back when asked for evidence (47 points, 30 comments)
    2. The elephant in the room: would the public ever use a volatile currency over a stable currency? (34 points, 45 comments)
  51. 81 points, 1 submission: Mycryptopedia
    1. Understanding the Tech Behind RaiBlocks (81 points, 7 comments)
  52. 81 points, 1 submission: davidvanbeveren
    1. Article thoroughly analysing / comparing IOTA and RaiBlocks (x-post /CryptoCurrency) (81 points, 10 comments)
  53. 77 points, 4 submissions: DeleteMyOldAccount
    1. HD Wallets Explained: What they are, and how to make them coin agnostic (28 points, 11 comments)
    2. Bitcoin Cash May 15th fork (23 points, 22 comments)
    3. So you want to build a Bitcoin HD wallet? Part 1 (23 points, 3 comments)
    4. Applications of Blockchain in Supply Chain (3 points, 9 comments)
  54. 76 points, 3 submissions: kryptofinger
    1. Why would anyone bother using any DPOS coins for dapps like Eos over normal systems like AWS? (44 points, 104 comments)
    2. Could a state backed privacy coin work? (22 points, 32 comments)
    3. Thoughts on Elastos? (10 points, 8 comments)
  55. 76 points, 1 submission: francohab
    1. 55% of the Nano representative nodes are "official representatives", presumably held by developers. How big of an issue is that? (76 points, 46 comments)
  56. 75 points, 2 submissions: MerkleChainsaw
    1. The biggest challenge for cryptocurrencies and how to mitigate it (73 points, 37 comments)
    2. Short and long term design tradeoffs in crypto (2 points, 2 comments)
  57. 75 points, 1 submission: jatsignwork
    1. Raiblocks & Spam (75 points, 60 comments)
  58. 74 points, 1 submission: behindtext
    1. Hello, this is Jake Yocom-Piatt. Ask me anything about Decred! (74 points, 49 comments)
  59. 73 points, 2 submissions: TexasRadical83
    1. Why use a new "currency" at all? (40 points, 48 comments)
    2. Why are big price increases for crypto a good thing? (33 points, 41 comments)

Top Commenters

  1. Neophyte- (1649 points, 746 comments)
  2. ndha1995 (583 points, 98 comments)
  3. turtleflax (406 points, 116 comments)
  4. senzheng (326 points, 193 comments)
  5. holomntn (294 points, 40 comments)
  6. manly_ (286 points, 43 comments)
  7. signos_de_admiracion (250 points, 18 comments)
  8. fgiveme (231 points, 77 comments)
  9. crypto_kang (222 points, 45 comments)
  10. jatsignwork (220 points, 37 comments)
  11. GainsLean (218 points, 76 comments)
  12. benthecarman (211 points, 48 comments)
  13. rockyrainy (200 points, 39 comments)
  14. hungryforitalianfood (197 points, 58 comments)
  15. rocksolid77 (190 points, 20 comments)
  16. bannercoin (189 points, 11 comments)
  17. insette (181 points, 47 comments)
  18. DiogenicOrder (175 points, 41 comments)
  19. islanavarino (173 points, 51 comments)
  20. behindtext (172 points, 14 comments)
  21. takitus (171 points, 25 comments)
  22. sukitrebek (170 points, 42 comments)
  23. UnknownEssence (170 points, 31 comments)
  24. crypto_ha (170 points, 26 comments)
  25. AlexCoventry (167 points, 17 comments)
  26. DragonWhsiperer (165 points, 38 comments)
  27. stop-making-accounts (164 points, 57 comments)
  28. KnifeOfPi2 (157 points, 13 comments)
  29. Edgegasm (156 points, 42 comments)
  30. ippond (152 points, 15 comments)
  31. dontlikecomputers (151 points, 61 comments)
  32. QRCollector (150 points, 46 comments)
  33. alexrecuenco (145 points, 18 comments)
  34. BobUltra (144 points, 88 comments)
  35. SpamCamel (135 points, 22 comments)
  36. InterdisciplinaryHum (133 points, 107 comments)
  37. theglitteringone (132 points, 10 comments)
  38. ChocolateSunrise (128 points, 23 comments)
  39. PM_ME_UR_QUINES (125 points, 4 comments)
  40. narwhale111 (122 points, 15 comments)
  41. pepe_le_shoe (121 points, 47 comments)
  42. Darius510 (119 points, 39 comments)
  43. glen-hodl (118 points, 21 comments)
  44. HOG_ZADDY (117 points, 23 comments)
  45. coranos2 (116 points, 44 comments)
  46. etherenvoy (116 points, 15 comments)
  47. johnny_milkshakes (115 points, 55 comments)
  48. galan77 (115 points, 52 comments)
  49. hybridsole (113 points, 40 comments)
  50. funciton (113 points, 8 comments)
  51. Mr0ldy (110 points, 24 comments)
  52. Corm (109 points, 42 comments)
  53. cryptoscopia (109 points, 7 comments)
  54. ReportFromHell (106 points, 39 comments)
  55. broscientologist (105 points, 26 comments)
  56. straytjacquet (104 points, 28 comments)
  57. Quadling (101 points, 24 comments)
  58. BlockEnthusiast (101 points, 17 comments)
  59. thats_not_montana (99 points, 37 comments)
  60. TheRealMotherOfOP (98 points, 27 comments)
  61. yarauuta (96 points, 11 comments)
  62. pegasuspect93 (96 points, 1 comment)
  63. andrew_bao (93 points, 40 comments)
  64. samdotla (93 points, 6 comments)
  65. melodious_punk (91 points, 34 comments)
  66. Mquantum (91 points, 31 comments)
  67. TJ_Hooker15 (91 points, 27 comments)
  68. NoFaptain99 (91 points, 3 comments)
  69. ilielezi (87 points, 10 comments)
  70. Raapop (87 points, 2 comments)
  71. Allways_Wrong (86 points, 36 comments)
  72. bLbGoldeN (86 points, 19 comments)
  73. ResIpsaLoquiturrr (86 points, 15 comments)
  74. kabelman93 (85 points, 29 comments)
  75. no_pants_gamer (84 points, 9 comments)
  76. AnkurTechracers (83 points, 16 comments)
  77. ric2b (83 points, 11 comments)
  78. Big_Goose (83 points, 10 comments)
  79. Lifeistooshor1 (82 points, 21 comments)
  80. vornth (82 points, 11 comments)
  81. Sargos (81 points, 25 comments)
  82. refreshx2 (81 points, 16 comments)
  83. Qwahzi (78 points, 27 comments)
  84. StupidRandomGuy (77 points, 35 comments)
  85. WikiTextBot (77 points, 24 comments)
  86. SnootyEuropean (77 points, 5 comments)
  87. cryptogainz (76 points, 14 comments)
  88. frequentlywrong (76 points, 4 comments)
  89. the_defiant (76 points, 4 comments)
  90. BrangdonJ (75 points, 28 comments)
  91. hendrik_v (75 points, 7 comments)
  92. solar128 (74 points, 18 comments)
  93. foobazzler (74 points, 8 comments)
  94. ginger_beer_m (73 points, 35 comments)
  95. kAhmij (73 points, 25 comments)
  96. DeleteMyOldAccount (73 points, 20 comments)
  97. sn0wr4in (73 points, 9 comments)
  98. Dyslectic_Sabreur (72 points, 5 comments)
  99. X7spyWqcRY (71 points, 8 comments)
  100. Krapser (70 points, 5 comments)

Top Submissions

  1. A Guided Reading of Bitcoin’s Original White Paper by Realness100 (202 points, 10 comments)
  2. From a technical standpoint: Why does every blockchain projects need their own coins? by HSPremier (181 points, 50 comments)
  3. Bitcoin Gold hit by Double Spend Attack (51% attack). The Attacker reversed 22 blocks. by rockyrainy (179 points, 102 comments)
  4. Why white papers in crypto world are so unprofessional? by ilielezi (175 points, 88 comments)
  5. My brief observation of most common Consensus Algorithms by tracyspacygo (159 points, 49 comments)
  6. Proof-of-Approval: Stake Based, 1 Block Finality & History Attack Defense by shunsaitakahashi (147 points, 4 comments)
  7. "Do you need a Blockchain?" - this paper is fantastic, everyone should read this before evaluating a coin and if requires a block chain to solve a solution the coin is promising to solve. by Neophyte- (136 points, 41 comments)
  8. Technical comparison of LIGHTNING vs TANGLE vs HASHGRAPH vs NANO by Qwahzi (133 points, 37 comments)
  9. Everytime I try to investigate the technology behind Cardano(Ada), I come across the words "scientific" and "peer-reviewed" over and over but almost no actual details. Can someone fill how this coin actually works and where they are in development? by RufusTheFirefly (126 points, 49 comments)
  10. How do we change the culture around cryptocurrency? by FashionistaGuru (118 points, 54 comments)

Top Comments

  1. 160 points: holomntn's comment in ELI5: Why did it take so long for blockchain technology to be created?
  2. 121 points: KnifeOfPi2's comment in How do we change the culture around cryptocurrency?
  3. 105 points: theglitteringone's comment in Outside of currency and voting, blockchain is awful and shouldnt be used. Can anyone explain where blockchain is worth the cost?
  4. 102 points: benthecarman's comment in If crypto now is like 'the Internet' of the past, where are we?
  5. 96 points: pegasuspect93's comment in If crypto now is like 'the Internet' of the past, where are we?
  6. 95 points: bannercoin's comment in Realistically, why would anybody expect the startup crypto platforms to beat out the corporate giants who are developing their own Blockchain as a Service (BaaS) solutions? Ex. IBM, SAP, JP Morgan...
  7. 83 points: AlexCoventry's comment in Ethereum private key with all zeroes leads to an account with 5000$ on it
  8. 82 points: deleted's comment in Is blockchain really useful ?
  9. 81 points: signos_de_admiracion's comment in Why white papers in crypto world are so unprofessional?
  10. 78 points: NoFaptain99's comment in Why do so many of these businesses need a token? (Unsure)
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

⚡ Lightning Network Megathread ⚡

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

⚡What is the Lightning Network? ⚡

Explanations:

Image Explanations:

Specifications / White Papers

Videos

Lightning Network Experts on Reddit

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

Lightning Network Experts on Twitter

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

Medium Posts

Learning Resources

Books

Desktop Interfaces

Web Interfaces

Tutorials and resources

Lightning on Testnet

Lightning Wallets

Place a testnet transaction

Altcoin Trading using Lightning

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

Lightning on Mainnet

Warning - Testing should be done on Testnet

Atomic Swaps

Developer Documentation and Resources

Lightning implementations

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

Libraries

Lightning Network Visualizers/Explorers

Testnet

Mainnet

Payment Processors

  • BTCPay - Next stable version will include Lightning Network

Community

Slack

IRC

Slack Channel

Discord Channel

Miscellaneous

⚡ Lightning FAQs ⚡

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

Unanswered Questions

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

Special Thanks and Notes

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

Vitalik's response to Tuur

I interlaced everything between Vitalik and Tuur to make it easier to read.
1/ People often ask me why I’m so “against” Ethereum. Why do I go out of my way to point out flaws or make analogies that put it in a bad light?
Intro
2/ First, ETH’s architecture & culture is opposite that of Bitcoin, and yet claims to offer same solutions: decentralization, immutability, SoV, asset issuance, smart contracts, …
Second, ETH is considered a crypto ‘blue chip’, thus colors perception of uninformed newcomers.
Agree! I personally find Ethereum culture far saner, though I am a bit biased :)
3/ I've followed Ethereum since 2014 & feel a responsibility to share my concerns. IMO contrary to its marketing, ETH is at best a science experiment. It’s now valued at $13B, which I think is still too high.
Not an argument
4/ I agree with Ethereum developer Vlad Zamfir that it’s not money, not safe, and not scalable. https://twitter.com/VladZamfistatus/838006311598030848
@VladZamfir Eth isn't money, so there is no monetary policy. There is currently fixed block issuance with an exponential difficulty increase (the bomb).
I'm pretty sure Vlad would say the exact same thing about Bitcoin
5/ To me the first red flag came up when in our weekly hangout we asked the ETH founders about to how they were going to scale the network. (We’re now 4.5 years later, and sharding is still a pipe dream.)
Ethereum's Joe Lubin in June 2014: "anticipate blockchain bloat—working on various sharding ideas". https://www.youtube.com/watch?v=oJG9g0lCPU8&feature=youtu.be&t=36m41s
The core principles have been known for years, the core design for nearly a year, and details for months, with implementations on the way. So sharding is definitely not at the pipe dream stage at this point.
6/ Despite strong optimism that on-chain scaling of Ethereum was around the corner (just another engineering job), this promise hasn’t been delivered on to date.
Sure, sharding is not yet finished. Though more incremental stuff has been going well, eg. uncle rates are at near record lows despite very high chain usage.
7/ Recently, a team of reputable developers decided to peer review a widely anticipated Casper / sharding white paper, concluding that it does not live up to its own claims.
Unmerciful peer review of Vlad Zamfir & co's white paper to scale Ethereum: "the authors do NOT prove that the CBC Casper family of protocols is Byzantine fault tolerant in either practice or theory".
That review was off the mark in many ways, eg. see https://twitter.com/technocrypto/status/1071111404340604929, and by the way CBC is not even a prerequisite for Serenity
8/ On the 2nd layer front, devs are now trying to scale Ethereum via scale via state channels (ETH’s version of Lightning), but it is unclear whether main-chain issued ERC20 type tokens will be portable to this environment.
Umm... you can definitely use Raiden with arbitrary ERC20s. That's why the interface currently uses WETH (the ERC20-fied version of ether) and not ETH
9/ Compare this to how the Bitcoin Lightning Network project evolved:
elizabeth stark @starkness: For lnd: First public code released: January 2016 Alpha: January 2017 Beta: March 2018…
Ok
10/ Bitcoin’s Lightning Network is now live, and is growing at rapid clip.
Jameson Lopp @lopp: Lightning Network: January 2018 vs December 2018
Sure, though as far as I understand there's still a low probability of finding routes for nontrivial amounts, and there's capital lockup griefing vectors, and privacy issues.... FWIW I personally never thought lightning is unworkable, it's just a design that inherently runs into ten thousand small issues that will likely take a very long time to get past.
11/ In 2017, more Ethereum scaling buzz was created, this time the panacea was “Plasma”.
@TuurDemeester Buterin & Poon just published a new scaling proposal for Ethereum, "strongly complementary to base-layer PoS and sharding": plasma.io https://twitter.com/VitalikButerin/status/895467347502182401
Yay, Plasma!
12/ However, upon closer examination it was the recycling of some stale ideas, and the project went nowhere:
Peter Todd @peterktodd These ideas were all considered in the Treechains design process, and ultimately rejected as insecure.
Just because Peter Todd rejected something as "insecure" doesn't mean that it is. In general, the ethereum research community is quite convinced that the fundamental Plasma design is fine, and as far as I understand there are formal proofs on the way. The only insecurity that can't be avoided is mass exit vulns, and channel-based systems have those too.
13/ The elephant in the room is the transition to proof-of-stake, an “environmentally friendly” way to secure the chain. (If this was the plan all along, why create a proof-of-work chain first?)
@TuurDemeester "Changing from proof of work to proof of stake changes the economics of the system, all the rules change and it will impact everything."
Umm... we created a proof of work chain first because we did not have a satisfactory proof of stake algo initially?
14/ For the uninitiated, here’s a good write-up that highlights some of the fundamental design problems of proof-of-stake. Like I said, this is science experiment territory.
And here's a set of long arguments from me on why proof of stake is just fine: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ. For a more philosophical piece, see https://medium.com/@VitalikButerin/a-proof-of-stake-design-philosophy-506585978d51
15/ Also check out this thread about how Proof of Stake blockchains require subjectivity (i.e. a trusted third party) to achieve consensus: https://forum.blockstack.org/t/pos-blockchains-require-subjectivity-to-reach-consensus/762?u=muneeb … and this thread on Bitcoin: https://www.reddit.com/Bitcoin/comments/59t48m/proofofstake_question/
Yes, we know about weak subjectivity, see https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/. It's really not that bad, especially given that users need to update their clients once in a while anyway, oh and by the way even if the weak subjectivity assumption is broken an attacker still needs to gather up that pile of old keys making up 51% of the stake. And also to defend against that there's Universal Hash Time.
16/ Keep in mind that Proof of Stake (PoS) is not a new concept at all. Proof-of-Work actually was one of the big innovations that made Bitcoin possible, after PoS was deemed impractical because of censorship vulnerability.
@TuurDemeester TIL Proof-of-stake based private currency designs date at least back to 1998. https://medium.com/swlh/the-untold-history-of-bitcoin-enter-the-cypherpunks-f764dee962a1
Oh I definitely agree that proof of work was superior for bootstrap, and I liked it back then especially because it actually managed to be reasonably egalitarian around 2009-2012 before ASICs fully took over. But at the present time it doesn't really have that nice attribute.
17/ Over the years, this has become a pattern in Ethereum’s culture: recycling old ideas while not properly referring to past research and having poor peer review standards. This is not how science progresses.Tuur Demeester added,
[email protected] has been repeatedly accused of /criticised for not crediting prior art. Once again with plasma: https://twitter.com/DamelonBCWS/status/895643582278782976
I try to credit people whenever I can; half my blog and ethresear.ch posts have a "special thanks" section right at the top. Sometimes we end up re-inventing stuff, and sometimes we end up hearing about stuff, forgetting it, and later re-inventing it; that's life as an autodidact. And if you feel you've been unfairly not credited for something, always feel free to comment, people have done this and I've edited.
18/ One of my big concerns is that sophistry and marketing hype is a serious part of Ethereum’s success so far, and that overly inflated expectations have lead to an inflated market cap.
Ok, go on.
19/ Let’s illustrate with an example.
...
20/ A few days ago, I shared a critical tweet that made the argument that Ethereum’s value proposition is in essence utopian.
@TuurDemeester Ethereum-ism sounds a bit like Marxism to me:
  • What works today (PoW) is 'just a phase', the ideal & unproven future is to come: Proof-of-Stake.…
...
21/ I was very serious about my criticism. In fact, each one of the three points addressed what Vitalik Buterin has described as “unique value propositions of Ethereum proper”. https://www.reddit.com/ethereum/comments/5jk3he/how_to_prevent_the_cannibalism_of_ethereum_into/dbgujr8/
...
22/ My first point, about Ethereum developers rejecting Proof-of-Work, has been illustrated many times over By Vitalik and others. (See earlier in this tweetstorm for more about how PoS is unproven.)
Vitalik Non-giver of Ether @VitalikButerin: I don't believe in proof of work!
See above for links as to why I think proof of stake is great.
23/ My second point addresses Ethereum’s romance with the vague and dangerous notion of ‘social consensus’, where disruptive hard-forks are used to ‘upgrade’ or ‘optimize’ the system, which inevitably leads to increased centralization. More here:
See my rebuttal to Tuur's rebuttal :)
24/ My third point addresses PoS’ promise of perpetual income to ETHizens. Vitalik is no stranger to embracing free lunch ideas, e.g. during his 2014 ETH announcement speech, where he described a coin with a 20% inflation tax as having “no cost” to users.
Yeah, I haven't really emphasized perpetual income to stakers as a selling point in years. I actually favor rewards being as low as possible while still being high enough for security.
25/ In his response to my tweet, Vitalik adopted my format to “play the same game” in criticizing Bitcoin. My criticisms weren't addressed, and his response was riddled with errors. Yet his followers gave it +1,000 upvotes!
Vitalik Non-giver of Ether @VitalikButerin: - What works today (L1) is just a phase, ideal and unproven future (usable L2) is to come - Utopian concept of progress: we're already so confident we're finished we ain't needin no hard forks…
Ok, let's hear about what the errors are...
26/ Rebuttal: - BTC layer 1 is not “just a phase”, it always will be its definitive bedrock for transaction settlement. - Soft forking digital protocols has been the norm for over 3 decades—hard-forks are the deviation! - Satoshi never suggested hyperbitcoinization as a goal.
Sure, but (i) the use of layer 1 for consumer payments is definitely, in bitcoin ideology, "just a phase", (ii) I don't think you can make analogies between consensus protocols and other kinds of protocols, and between soft forking consensus protocols and protocol changes in other protocols, that easily, (iii) plenty of people do believe that hyperbitcoinization as a goal. Oh by the way: https://twitter.com/tuurdemeestestatus/545993119599460353
27/ This kind of sophistry is exhausting and completely counter-productive, but it can be very convincing for an uninformed retail public.
Ok, go on.
28/ Let me share a few more inconvenient truths.
...
29/ In order to “guarantee” the transition to PoS’ utopia of perpetual income (staking coins earns interest), a “difficulty bomb” was embedded in the protocol, which supposedly would force miners to accept the transition.
The intended goal of the difficulty bomb was to prevent the protocol from ossifying, by ensuring that it has to hard fork eventually to reset the difficulty bomb, at which point the status quo bias in favor of not changing other protocol rules at the same time would be weaker. Though forcing a switch to PoS was definitely a key goal.
30/ Of course, nothing came of this, because anything in the ETH protocol can be hard-forked away. Another broken promise.
Tuur Demeester @TuurDemeester: Looks like another Ethereum hard-fork is going to remove the "Ice Age" (difficulty increase meant to incentivize transition to PoS). https://www.cryptocompare.com/coins/guides/what-is-the-ethereum-ice-age/
How is that a broken promise? There was no social contract to only replace the difficulty-bombed protocol with a PoS chain.
31/ Another idea that was marketed heavily early on, was that with ETH you could program smart contract as easily as javascript applications.
Tuur Demeester @TuurDemeester: I forgot, but in 2014 Ethereum was quite literally described as "Javascript-on-the-blockchain"
Agree that was over-optimistic, though the part of the metaphor that's problematic is the "be done with complex apps in a couple hours" part, NOT the "general-purpose languages are great" part.
32/ This was criticized by P2P & OS developers as a reckless notion, given that every smart contracts is actually a “de novo cryptographic protocol”. In other words, it’s playing with fire. https://bitcointalk.org/index.php?topic=1427885.msg14601127#msg14601127
See above
33/ The modular approach to Bitcoin seems to be much better at compartmentalizing risk, and thus reducing attack surfaces. I’ve written about modular scaling here...
To be fair, risk is reduced because Bitcoin does less.
34/ Another huge issue that Ethereum has is with scaling. By putting “everything on the blockchain” (which stores everything forever) and dubbing it “the world computer”, you are going to end up with a very slow and clogged up system.
Christopher Allen @ChristopherA: AWS cost: $0.000000066 for calc, Ethereum: $26.55. This is about 400 million times as expensive. World computer? https://hackernoon.com/ether-purchase-power-df40a38c5a2f
We never advocated "putting everything on the blockchain". The phrase "world computer" was never meant to be interpreted as "everyone's personal desktop", but rather as a common platform specifically for the parts of applications that require consensus on shared state. As evidence of this, notice how Whisper and Swarm were part of the vision as complements to Ethereum right from the start.
35/ By now the Ethereum bloat is so bad that cheaply running an individual node is practically impossible for a lay person. ETH developers are also imploring people to not deploy more smart contract apps on its blockchain.
Tuur Demeester @TuurDemeester: But... deploying d-apps on the "Ethereum Virtual Machine" is exactly what everyone was encouraged to do for the past 4 years. Looks like on-chain scaling wasn't such a great idea after all.
Umm.... I just spun up a node from scratch last week. On a consumer laptop.
36/ As a result, and despite the claims that running a node in “warp” mode is easy and as good as a full node, Ethereum is becoming increasingly centralized.
@TuurDemeester Finally a media article touching on the elephant in the room: Ethereum has become highly centralized. #infura https://www.coindesk.com/the-race-is-on-to-replace-ethereums-most-centralized-layeamp?__twitter_impression=true
See above
37/ Another hollow claim: in 2016, Ethereum was promoted as being censorship resistant…
Tuur Demeester @TuurDemeester: Pre TheDAO #Ethereum presentation: "uncensorable, code is law, bottom up". http://ow.ly/qW49302Pp92
Yes, the DAO fork did violate the notion of absolute immutability. However, the "forking the DAO will lead to doom and gloom" crowd was very wrong in one key way: it did NOT work as a precedent justifying all sorts of further state interventions. The community clearly drew a line in the sand by firmly rejecting EIP 867, and EIP 999 seems to now also be going nowhere. So it seems like there's some evidence that the social contract of "moderately but not infinitely strong immutability" actually can be stable.
38/ Yet later that year, after only 6% of ETH holders had cast a vote, ETH core devs decided to endorse a hard-fork that clawed back the funds from a smart contract that held 4.5% of all ETH in circulation. More here: ...
See above
39/ Other potential signs of centralization: Vitalik Buterin signing a deal with a Russian government institution, and ETH core developers experimenting with semi-closed meetings: https://twitter.com/coindesk/status/902892844955860993 …,
Hudson Jameson @hudsonjameson: The "semi-closed" Ethereum 1.x meeting from last Friday was an experiment. The All Core Dev meeting this Friday will be recorded as usual.
Suppose I were to tomorrow sign up to work directly for Kim Jong Un. What concretely would happen to the Ethereum protocol? I suspect very little; I am mostly involved in the Serenity work, and the other researchers have proven very capable of both pushing the spec forward even without me and catching any mistakes with my work. So I don't think any argument involving me applies. And we ended up deciding not to do more semi-closed meetings.
40/ Another red flag to me is the apparent lack of relevant expertise in the ETH development community. (Check the responses…)
Tuur Demeester @TuurDemeester: Often heard: "but Ethereum also has world class engineers working on the protocol". Please name names and relevant pedigree so I can follow and learn. https://twitter.com/TuurDemeestestatus/963029019447955461
I personally am confident in the talents of our core researchers, and our community of academic partners. Most recently the latter group includes people from Starkware, Stanford CBR, IC3, and other groups.
41/ For a while, Microsoft veteran Lucius Meredith was mentioned as playing an important role in ETH scaling, but now he is likely distracted by the failure of his ETH scaling company RChain. https://blog.ethereum.org/2015/12/24/understanding-serenity-part-i-abstraction/
I have no idea who described Lucius Meredith's work as being important for the Serenity roadmap.... oh and by the way, RChain is NOT an "Ethereum scaling company"
42/ Perhaps the recently added Gandalf of Ethereum, with his “Fellowship of Ethereum Magicians” [sic] can save the day, but imo that seems unlikely...
Honestly, I don't see why Ethereum Gandalf needs to save the day, because I don't see what is in danger and needs to be saved...
43/ This is becoming a long tweetstorm, so let’s wrap up with a few closing comments.
Yay!
44/ Do I have a conflict of interest? ETH is a publicly available asset with no real barriers to entry, so I could easily get a stake. Also, having met Vitalik & other ETH founders several times in 2013-’14, it would have been doable for me to become part of the in-crowd.
Agree there. And BTW I generally think financial conflicts of interest are somewhat overrated; social conflicts/tribal biases are the bigger problem much of the time. Though those two kinds of misalignments do frequently overlap and reinforce each other so they're difficult to fully disentangle.
45/ Actually, I was initially excited about Ethereum’s smart contract work - this was before one of its many pivots.
Tuur Demeester @TuurDemeester: Ethereum is probably the first programming language I will teach myself - who wouldn't want the ability to program smart BTC contracts?
Ethereum was never about "smart BTC contracts"..... even "Ethereum as a Mastercoin-style meta-protocol" was intended to be built on top of Primecoin.
46/ Also, I have done my share of soul searching about whether I could be suffering from survivor’s bias.
@TuurDemeester I just published “I’m not worried about Bitcoin Unlimited, but I am losing sleep over Ethereum” https://medium.com/p/im-not-worried-about-bitcoin-unlimited-but-i-am-losing-sleep-over-ethereum-b5251c54e66d
Ok, good.
47/ Here’s why Ethereum is dubious to me: rather than creating an open source project & testnet to work on these interesting computer science problems, its founders instead did a securities offering, involving many thousands of clueless retail investors.
What do you mean "instead of"? We did create an open source project and testnet! Whether or not ETH is a security is a legal question; seems like SEC people agree it's not: https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not-securities-but-some-cryptocurrencies-may-be-sec-official-says.html
48/ Investing in the Ethereum ICO was akin to buying shares in a startup that had “invent time travel” as part of its business plan. Imo it was a reckless security offering, and it set the tone for the terrible capital misallocation of the 2017 ICO boom.
Nothing in the ethereum roadmap requires time-travel-like technical advancements or anything remotely close to that. Proof: we basically have all the fundamental technical advancements we need at this point.
49/ In my view, Ethereum is the Yahoo of our day - an unscalable “blue chip” cryptocurrency:
Tuur Demeester @TuurDemeester: 1/ The DotCom bubble shows that the market isn't very good at valuing early stage technology. I'll use Google vs. Yahoo to illustrate.
Got it.
50/ I’ll close with a few words from Gregory Maxwell from 2016,: https://bitcointalk.org/index.php?topic=1427885.msg14601127#msg14601127
See my rebuttal to Greg from 2 years ago: https://www.reddit.com/ethereum/comments/4g1bh6/greg_maxwells_critique_of_ethereum_blockchains/
submitted by shouldbdan to ethtrader [link] [comments]

HELP WANTED: CypherPoker.JS needs a team!

Please allow me to introduce myself.
My name is Patrick Bay and over the past few years I've been working on an open-source project called CypherPoker.JS
It's a decentralized, soon to be anonymous, truly peer-to-peer Texas Hold'em platform that incorporates blockchain technologies and a unique cryptosystem named SRA (based on a MIT research paper from the late 70s), which remove the need for trusted third parties and the things that go along with them: rakes / high fees, censorship susceptibility, etc.
To the best of my knowledge, to date there's nothing out there like this.
The ".JS" part means that the software is written in JavaScript for the modern browser, Node.js, and Electron. Basically, it runs on almost any device or operating system and yes, there's a web demo you can try right now (or download the desktop version if you prefer).

A Short History

After building the core game engine and a basic but extensible UI I incorporated Bitcoin, pumped up the software's peer-to-peer capabilities, and most recently added support for Bitcoin Cash. Because creating a team was the plan from the get-go I spent plenty of time documenting everything along the way.
There's plenty more in store for CypherPoker.JS but it's at a point now where I'm not sure I can continue to do it all on my own in a reasonable amount of time.
So I'm reaching out to YOU, that person who thinks that this is a pretty kick-ass concept-turned-prototype that they'd like to be associated with. It has the potential to transform the online gaming industry, not just poker. Yes, this is that early stage project you've been waiting to join.

"I'm in! What can I do?"

Now, I get that not everyone's a coder or designer and there are many shoes that need to be filled if this project is going to continue to grow at a healthy rate. Here are some suggestions:

Most social networks have a way to bring posts to prominence. I'll leave the details up to you.
Also watch for new releases, updates, and upcoming stuff and share whatever you think is interesting.

Modern (ECMAScript 2017) JavaScript, HTML5 / CSS3, browser, Node.js, Electron. Make GitHub pull requests with any important / useful / cool things. Some suggestions.

Give it a try! Make a free test account (no sign-up required), get some free testnet Bitcoin or Bitcoin Cash and make a deposit (instructions on the site). Once the deposit is confirmed you can transfer it to other accounts, including new ones that you create. Be aware of this outstanding issue if you want to use Bitcoin or Bitcoin Cash proper.
If you find problems, feel free to post them on the subreddit (or DM), tweet about them, or post them directly to the GitHub issues system where they should eventually end up anyway (you can use a free account). I also [do email](mailto:[email protected]).

Spread the gospel of peer-to-peer poker.
Get to know its deeper inner truths.
Play it, praise it, grow the flock!

Those would help a lot, actually. My laptop's been acting up and I'll probably need a new one soon. I also don't have regular internet access; makes working on this project challenging.
DM me for details (I'm tying to abide by the community rules).

If you have some web server space or Node.js / PHP+MySQL hosting please consider hosting a node. Limits have been built into the software (e.g. max database size), so you don't have to worry about it unnecessarily eating up resources. DM or [email](mailto:[email protected]) me for details.

Tournament funding and advertising are two immediate ideas that spring to mind but if you have any other sponsorship ideas I'd be happy to discuss them. Please contact me via DM or [email](mailto:[email protected]).

Quid Pro Quo

Perhaps you need a hand with one of your projects? Maybe you'd like a few guest blog posts? Possibly there's some other reciprocal arrangement you'd like to propose?
Contact me via DM or [email](mailto:[email protected]) to hash out the details.
submitted by monican_agent to btc [link] [comments]

HELP WANTED: CypherPoker.JS needs a team!

Please allow me to introduce myself.
My name is Patrick Bay and over the past few years I've been working on an open-source project called CypherPoker.JS
It's a decentralized, soon to be anonymous, truly peer-to-peer Texas Hold'em platform that incorporates blockchain technologies and a unique cryptosystem named SRA (based on a MIT research paper from the late 70s), which remove the need for trusted third parties and the things that go along with them: rakes / high fees, censorship susceptibility, etc.
To the best of my knowledge, to date there's nothing out there like this.
The ".JS" part means that the software is written in JavaScript for the modern browser, Node.js, and Electron. Basically, it runs on almost any device or operating system and yes, there's a web demo you can try right now (or download the desktop version if you prefer).

A Short History

After building the core game engine and a basic but extensible UI I incorporated Bitcoin, pumped up the software's peer-to-peer capabilities, and most recently added support for Bitcoin Cash. Because creating a team was the plan from the get-go I spent plenty of time documenting everything along the way.
There's plenty more in store for CypherPoker.JS but it's at a point now where I'm not sure I can continue to do it all on my own in a reasonable amount of time.
So I'm reaching out to YOU, that person who thinks that this is a pretty kick-ass concept-turned-prototype that they'd like to be associated with. It has the potential to transform the online gaming industry, not just poker. Yes, this is that early stage project you've been waiting to join.

"I'm in! What can I do?"

Now, I get that not everyone's a coder or designer and there are many shoes that need to be filled if this project is going to continue to grow at a healthy rate. Here are some suggestions:

Most social networks have a way to bring posts to prominence. These may include sharing, re-posting / cross-posting, liking, upvoting, plussing, starring. or otherwise showing approval or providing additional exposure. There's a good chance that you can do that you can do one of these things right now and that it's probably really easy.
Also watch for new releases, updates, and upcoming stuff. Share whatever you think is interesting.

Modern (ECMAScript 2017) JavaScript, HTML5 / CSS3, browser, Node.js, Electron. Make GitHub pull requests with any important / useful / cool things. Some suggestions.

Give it a try! Make a free test account (no sign-up required), get some free testnet Bitcoin or Bitcoin Cash and make a deposit (instructions on the site). Once the deposit is confirmed you can transfer it to other accounts, including new ones that you create. Be aware of this outstanding issue if you want to use Bitcoin or Bitcoin Cash proper.
If you find problems, feel free to post them on the subreddit (or DM), tweet about them, or post them directly to the GitHub issues system where they should eventually end up anyway (you can use a free account). I also [do email](mailto:[email protected]).

Spread the gospel of peer-to-peer poker.
Get to know its deeper inner truths.
Play it, praise it, grow the flock!

Those would help a lot, actually. My laptop's been acting up and I'll probably need a new one soon. I also don't have regular internet access; makes working on this project challenging.
Bitcoin: 18yWpM7CnYox58YMJ2iVa1aJZCs1sufPhg
Bitcoin Cash: bitcoincash:qrgzc6nf6275er7k04tjwauf4ptm9mw9qcaq6fceup

If you have some web server space or Node.js / PHP+MySQL hosting please consider hosting a node. Limits have been built into the software (e.g. max database size), so you don't have to worry about it unnecessarily eating up resources. DM or [email](mailto:[email protected]) me for details.

Tournament funding and advertising are two immediate ideas that spring to mind but if you have any other sponsorship ideas I'd be happy to discuss them. Please contact me via DM or [email](mailto:[email protected]).

Quid Pro Quo

Perhaps you need a hand with one of your projects? Maybe you'd like a few guest blog posts? Possibly there's some other reciprocal arrangement you'd like to propose?
Contact me via DM or [email](mailto:[email protected]) to hash out the details.
submitted by monican_agent to freesoftware [link] [comments]

Rebuttal: EOS does use Public-Key Cryptography (Per the Whiteblock paper) and has close to 4000 PTS (Max)

Introduction

Early November 2018, articles hit the news that EOS is "not a blockchain":
The Research was comissioned by Consensys. From Consensys' homepage, we learn that
ConsenSys is a global organism building the infrastructure, applications, and practices that enable a decentralized world.
If we have a look at the About Page, we learn that
Our focus is on the ecosystem, the growth of the Ethereum network (emphasis mine), and global integration of the benefits of blockchain and tokenization.
The study was done by Whiteblock, the "Scalable Blockchain Testing Platform". If we have a look at the prnewswire press release, we learn that:
Blockchain organizations such as Cosmos, Ethereum Community Fund, Amis, Maker DAO, IMToken, PlatON, Status, Loom Network, Coinfund, 1KX, Transference Fund, Web 3 Foundation, Grid+, MixLabs, Ledger Capital, Enterprise Ethereum Alliance, Google, Microsoft, ConsenSys and Bo Shen - Founding Partner of Fenbushi Capital & Cofounder of Bitshares, along with academic institutions such as Duke, USC, and MIT have committed to contributing resources to develop comprehensive reports based on Whiteblock's raw data (emphasis mine).
So at least a few pro-Ethereum entities have provided resources to Whiteblock. Can we expect impartiality from Whiteblock's research?
Additionally, if we have a look at the report, it was co-jointedly written by two scientist from Whiteblock and two scientists from Consensys:
https://www.screencast.com/t/8niRZaRScVJ
So we have the same party requesting an independent study of a concurrent blockchain and participating to the redaction off the final report. Conflict of interests, anyone?

About EOS and Cryptography:

EOS uses public key cryptography to sign transactions, per the EOS Whitepaper:
https://content.screencast.com/users/ChristopheK/folders/Jing/media/4bf5fb89-c851-450b-abe9-cf50e5691d8f/2018-11-07_0849.png
https://github.com/EOSIO/Documentation/blob/masteTechnicalWhitePaper.md#context-free-actions
Here an overview of an EOS transaction, which includes signatures:
https://steemit.com/eos/@dan/eos-developer-s-log-stardate-201707-9
So this means that EOS transactions signed with a private key are verified using the corresponding public key. This is how in cryptocurrencies, value is transmitted from the owner to the receiver using public key cryptography:
https://en.wikipedia.org/wiki/Public-key_cryptography
If you don't understand this, please read the Bitcoin whitepaper:
https://www.bitcoin.com/bitcoin.pdf
Section 2, transactions:
We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.

Cryptographic Validation

EOS blocks are signed with cryptographic keys:
https://eosio.stackexchange.com/questions/717/what-block-hash-function-and-transaction-signature-method-does-eos-use
The Whiteblock paper says:
This becomes apparent from the substantial reliance on architecture where cryptographic validation is not necessarily instantiated, though rather implemented in proximity.
What does not necessarily instantiated mean? This looks like a rather vague statement where the author isn't sure himself about what he writes.
I think the main beef Consensys/Whiteblocks has with EOS' architecture is that it doesn't do things the way Ethereum does, and hence is deemed "bad".

About the EOS Max Transaction Rate (TPS):

Whiteblock states that their testnet didn't support more than 250 TPS:
As observed in the section on performance, the transaction throughput in the system does not exceed 250 TPS even in optimal settings with 0 ms of latency and 0% packet loss.
To me it seems like it speaks more of Whiteblock's ability of setting up a test net than anything else, because EOS Mainnet already passed several thousands of transactions previously, with the record being close to 4000 TPS (3996 TPS to be exact):

Server Hardware

The servers they have used have, I kid you not, 5-year old specs.
The CPU, an Intel Xeon E5-2667 v2 was released on Sep 10, 2013 (Wikipedia).
The Server, a Dell Poweredge 720, also seems to have been manufactured around that time. You can find videos from 2013-2014 about the server on Youtube.
No wonder they didn’t make it past 250 TPS.

Use of Virtual Machines

While running as block producers, the servers also hosted a set of virtual machines, seemingly to host the clients:
https://content.screencast.com/users/ChristopheK/folders/Jing/media/8b0ac74e-083f-48f2-9897-9153833c74a4/2018-11-04_0910.png
Needless to say, running virtual machines in addition to the block producer software on the same physical machine degrades performance.

Performance Test Inputs

Page 13 features tables with input variables getting changed for each test case. Oddly enough, most tables specify that two TWO input variables were changed for each test case. How from this you can deduct which variable has an influence on the output is a mystery to me.
https://content.screencast.com/users/ChristopheK/folders/Jing/media/db889932-697e-45ec-93a0-54b4e63b999f/2018-11-04_1055.png
However, I think this is an oversight due to sloppy copy-pasting among the tables, and most likely the Network Latency has been kept constant for test series B - F.

History

Edit: added link to Whiteblock paper, spelling, less aggressive tone.
Edit 2: Added server info
Edit 3: Added virtual machine info, links to server hardware, spelling
Edit4: Added introduction, information of performance test inputs
Edit 5: Updated sections About EOS and Cryptography and Cryptographic Validation, About the EOS Max Transaction Rate (TPS)
Edit 6: Some formatting
This post is still work in progress.
submitted by taipalag to eos [link] [comments]

Regarding Threads on Bitmain and ASIC Resistance (Mega Thread!)

Guys,
Let’s take a minute to talk about what’s going on. We need to make sure all users are on the same page and the falsifications and assumptions stop.
I'm with you, and I understand that you feel betrayed. However, cleaning up after the constant bickering for those pro-fork and those anti-fork is growing tiresome. It's time we have a civil discussion and talk about facts.

Timeline of events

On 03/31/2018, a user from Ethfans.org posted a video on Telegram of a supposed Ethash ASIC. The video made its way to /Ethermining in a thread. It is important to mention that these values can be modified by changing “get_miner_status.cgi” and “minerStatus.cgi” and that there has been no credible evidence that has popped up in the nine days following the release of the supposed leak. Additionally, the following abnormalities should be noted:
Also on 3/31/2018, a user on Russian site Bits.media noticed that the pre-order for the Bitmain E3 was already up. It was believed to be an April fools joke; needless to say, it wasn’t.
On 04/02/2018, Bitmain launched the E3 and began taking pre-orders for a June delivery. At that time, the price was $800 and promised a hashing power of 180MH/s at 800 watts.
On 04/06/2018, Ethereum core developers decided against hard-forking Ethereum at this time, as they weren't convinced that it would positively impact the community given a hard-fork's disruption and the unknown of how the ASIC worked (specifically if it was programmable). The community became upset over broken promises of ASIC resistance, and this has since spread to a full out finger pointing of who is wrong.
On 04/08/2018, an apparently forged photo showed up showing a higher-hashing ASIC with far less power consumption. This is not only very unlikely, but the link in the photo was gibberish, whereas the E3's link was valid. We're writing that one up as FUD.

The "ASIC Resistance" Argument

At this point, I think that it’s I think it's important that we visit some key points of the Ethereum project. A lot of people have been quoting the whitepaper, calling ETH ASIC-proof and implying that the developers do not care about the problem.
In actuality, Ethereum never promised that it would be ASIC-proof, merely that it would provide an economic incentive to be resistant to the development of an ASIC. I'd like to produce a quote from the Ethereum Wiki, found here.
Ultimately, perfect ASIC resistance is impossible; there are always portions of circuits that are going to be unused by any specific algorithm and that can be trimmed to cut costs in a specialized device. However, what we are looking for is not perfect ASIC resistance but rather economic ASIC resistance.
...
The problem is that measuring an economy in a secure way is a difficult problem. The most obvious metric that the system has access to is mining difficulty, but mining difficulty also goes up with Moore's law and in the short term with ASIC development, and there is no known way to estimate the impact of Moore's law alone and so the currency cannot know if its difficulty increased by 10x due to better hardware, a larger user volume or a combination of both. Other metrics, such as transaction count, are potentially gameable by entities that want the supply to change in a particular direction (generally, holders want a lower supply, miners want a higher supply).
This is solidified by revisiting the whitepaper, specifically the section which identifies how ASICs will be economically stymied:
This model is untested, and there may be difficulties along the way in avoiding certain clever optimizations when using contract execution as a mining algorithm. However, one notably interesting feature of this algorithm is that it allows anyone to "poison the well", by introducing a large number of contracts into the blockchain specifically designed to stymie certain ASICs. The economic incentives exist for ASIC manufacturers to use such a trick to attack each other. Thus, the solution that we are developing is ultimately an adaptive economic human solution rather than purely a technical one.
So with the Ethereum team providing only an economic reason to not develop an ASIC since the beginning, there has been no lie.

Second batch of E3s will not be profitable with Ethereum

As a response to the developers announcing that they are not initiating a hard fork, Bitmain raised the price of the second batch of E3s to $1800. With a PSU ($105) and shipping costs ($225), plus duty fees ($25). That brings each E3 up to $2,155, or $11.97 per MH.
Comparatively, this is like paying $300 per GPU ($1800) plus Mobo/PSU/risers ($355). I have built rigs with similar hashrates for under $1,900 ($10.50 per MH).
If we speculate that Casper is as close as we think (see below), coupled with the rising difficulty, the second batch of E3s are not likely to break-even with Ethereum as a whole. If ETH rises to its ATH, the second batch units may be profitable. Tis the risk of mining.

Current speculation:

  • ASICs are bad!
    • In the Ethereum mining community, ASICs to be viewed as a formidable commodity, when they should rather be viewed as a tool. Tools are never inherently good or bad, but how they are used can be, and some developers intend for the coin to eventually be used with an ASIC. Some coins, such as Sia, were designed to specifically work with an ASIC. > 51% centralization is bad.
  • Bitmain has a better ASIC.
    • Probably. But this is an unknown. Speculation of an ASIC is not a reason to fork the second largest cryptocurrency.
  • Bitmain will be a cause for centralization
    • Everything should be a concern for centralization. Hell, early miners can be a bigger concern. The principals of economies of scale still apply to mining; so those who started out with a lot of GPUs are heavily mining. I've set up warehouses full of GPUs for clients, so if you think some of the guys here are big shots, I promise you there are larger concerns for the current state of centralization.
    • I will also note that yes, we will need to worry about a mass-manufacturer of just ASICs, especially if they are pumping out > 30,000 units per month at the current rate. But the firm that uncovered Bitmain's ASIC, Susquehannah, claims that there are at least three other ASIC manufacturers out there. This puts some silent competition on Bitmain.
  • Ethereum is not as centralized as Bitcoin
    • You'd think that, and the goal of the whitepaper was for Ethereum to be less centralized as bitcoin. It even mentions that "three mining pools indirectly control roughly 50% of processing power in the Bitcoin network." Ethereum is in this state already. Ethermine controls ~28% of the network hashrate, F2pool has ~17%, and SparkPool has ~15%. Arguably, the Ethereum network is in a more sensitive state.
  • Casper is right around the corner.
    • This has been speculation for some time now. Developers confirmed that testnet should be fully operational by August, meaning that we may be able to expect PoS hybrid by DecembeJanuary assuming everything goes as planned.
  • Dev team does not care about miners
    • In the project's current state, miners are a necessity. Remember that seigniorage must be sinigicant enough for miners to continue mining, otherwise, the network would slow and we'd have another Crypto Kitties incident on our hands. Until Ethereum is PoS, you are valid.
  • Dev team wants to get rid of miners
    • Well, yeah. That's what PoS is about. Ethereum will not be Proof of Work forever and that needs to be appreciated.
  • We should fork ourselves into an ASIC-proof currency
    • Do it! Take some initiative and work up a team, I'll be happy to help and support in any way that I can, including pointing my hashing power your way.

Ethereum decision governance

Right now, large decisions are made by the Ethereum core developers. This last decision to not hard-fork was not well received by the community. It feels to be almost an "electoral college" kind of deal, and that's something that has upset a lot of people. Is this the topic that we need to discuss in more detail?

So what is this thread?

For now, this is going to replace our weekly discussion for a few weeks until everything calms down. The sub is in a volatile state and everyone is slinging FUD at everyone else. We need to clean up and calmly discuss our position on the matter at hand. This means:
  • No more fighting about the ASIC in the comments
  • OUTSIDE OF THIS THREAD, please do not shitpost. Meaning, no more strongly worded threads about how you're out of mining completely because of the ASIC, or how the developers screwed you over because ETH was supposed to be ASIC proof, or how people are whining. I'm deleting threads left and right for people who are just using the sub as an outlet to name call on both sides.
  • As always, constructive threads are welcome, but shitposts are to be confined to this thread, please.

We all have different opinions

I am going to remain neutral on this topic. I mine with both GPUs and ASICs, and I've worked with countless numbers of people who do as well. We need to cooperate as a community instead of tearing each other apart over the issue. Let's think before we post and keep comments constructive.
Happy mining!
  • Rob
submitted by Robbbbbbbbb to EtherMining [link] [comments]

HELP WANTED: CypherPoker.JS needs a team!

Please allow me to introduce myself.
My name is Patrick Bay and over the past few years I've been working on an open-source project called CypherPoker.JS
It's a decentralized, soon to be anonymous, truly peer-to-peer Texas Hold'em platform that incorporates blockchain technologies and a unique cryptosystem named SRA (based on a MIT research paper from the late 70s), which remove the need for trusted third parties and the things that go along with them: rakes / high fees, censorship susceptibility, etc.
To the best of my knowledge, to date there's nothing out there like this.
The ".JS" part means that the software is written in JavaScript for the modern browser, Node.js, and Electron. Basically, it runs on almost any device or operating system and yes, there's a web demo you can try right now (or download the desktop version if you prefer).

A Short History

After building the core game engine and a basic but extensible UI I incorporated Bitcoin, pumped up the software's peer-to-peer capabilities, and most recently added support for Bitcoin Cash. Because creating a team was the plan from the get-go I spent plenty of time documenting everything along the way.
There's plenty more in store for CypherPoker.JS but it's at a point now where I'm not sure I can continue to do it all on my own in a reasonable amount of time.
So I'm reaching out to YOU, that person who thinks that this is a pretty kick-ass concept-turned-prototype that they'd like to be associated with. It has the potential to transform the online gaming industry, not just poker. Yes, this is that early stage project you've been waiting to join.

"I'm in! What can I do?"

Now, I get that not everyone's a coder or designer and there are many shoes that need to be filled if this project is going to continue to grow at a healthy rate. Here are some suggestions:

Most social networks have a way to bring posts to prominence. These may include sharing, re-posting / cross-posting, liking, upvoting, plussing, starring. or otherwise showing approval or providing additional exposure. There's a good chance that you can do that you can do one of these things right now and that it's probably really easy.
Also watch for new releases, updates, and upcoming stuff. Share whatever you think is interesting.

Modern (ECMAScript 2017) JavaScript, HTML5 / CSS3, browser, Node.js, Electron. Make GitHub pull requests with any important / useful / cool things. Some suggestions.

Give it a try! Make a free test account (no sign-up required), get some free testnet Bitcoin or Bitcoin Cash and make a deposit (instructions on the site). Once the deposit is confirmed you can transfer it to other accounts, including new ones that you create. Be aware of this outstanding issue if you want to use Bitcoin or Bitcoin Cash proper.
If you find problems, feel free to post them on the subreddit (or DM), tweet about them, or post them directly to the GitHub issues system where they should eventually end up anyway (you can use a free account). I also [do email](mailto:[email protected]).

Spread the gospel of peer-to-peer poker.
Get to know its deeper inner truths.
Play it, praise it, grow the flock!

Those would help a lot, actually. My laptop's been acting up and I'll probably need a new one soon. I also don't have regular internet access; makes working on this project challenging.
Bitcoin: 18yWpM7CnYox58YMJ2iVa1aJZCs1sufPhg
Bitcoin Cash: bitcoincash:qrgzc6nf6275er7k04tjwauf4ptm9mw9qcaq6fceup

If you have some web server space or Node.js / PHP+MySQL hosting please consider hosting a node. Limits have been built into the software (e.g. max database size), so you don't have to worry about it unnecessarily eating up resources. DM or [email](mailto:[email protected]) me for details.

Tournament funding and advertising are two immediate ideas that spring to mind but if you have any other sponsorship ideas I'd be happy to discuss them. Please contact me via DM or [email](mailto:[email protected]).

Quid Pro Quo

Perhaps you need a hand with one of your projects? Maybe you'd like a few guest blog posts? Possibly there's some other reciprocal arrangement you'd like to propose?
Contact me via DM or [email](mailto:[email protected]) to hash out the details.
submitted by monican_agent to opensource [link] [comments]

CypherPoker.JS needs a team!

Please allow me to introduce myself.
My name is Patrick Bay and over the past few years I've been working on an open-source project called CypherPoker.JS
It's a decentralized, soon to be anonymous, truly peer-to-peer Texas Hold'em platform that incorporates blockchain technologies and a unique cryptosystem named SRA (based on a MIT research paper from the late 70s), which remove the need for trusted third parties and the things that go along with them: rakes / high fees, censorship susceptibility, etc.
To the best of my knowledge, to date there's nothing out there like this.
The ".JS" part means that the software is written in JavaScript for the modern browser, Node.js, and Electron. Basically, it runs on almost any device or operating system and yes, there's a web demo you can try right now (or download the desktop version if you prefer).

A Short History

After building the core game engine and a basic but extensible UI I incorporated Bitcoin, pumped up the software's peer-to-peer capabilities, and most recently added support for Bitcoin Cash. Because creating a team was the plan from the get-go I spent plenty of time documenting everything along the way.
There's plenty more in store for CypherPoker.JS but it's at a point now where I'm not sure I can continue to do it all on my own in a reasonable amount of time.
So I'm reaching out to YOU, that person who thinks that this is a pretty kick-ass concept-turned-prototype that they'd like to be associated with. It has the potential to transform the online gaming industry, not just poker. Yes, this is that early stage project you've been waiting to join.

"I'm in! What can I do?"

Now, I get that not everyone's a coder or designer and there are many shoes that need to be filled if this project is going to continue to grow at a healthy rate. Here are some suggestions:

Most social networks have a way to bring posts to prominence. These may include sharing, re-posting / cross-posting, liking, upvoting, plussing, starring. or otherwise showing approval or providing additional exposure. There's a good chance that you can do that you can do one of these things right now and that it's probably really easy.
Also watch for new releases, updates, and upcoming stuff. Share whatever you think is interesting.

Modern (ECMAScript 2017) JavaScript, HTML5 / CSS3, browser, Node.js, Electron. Make GitHub pull requests with any important / useful / cool things. Some suggestions.

Give it a try! Make a free test account (no sign-up required), get some free testnet Bitcoin or Bitcoin Cash and make a deposit (instructions on the site). Once the deposit is confirmed you can transfer it to other accounts, including new ones that you create. Be aware of this outstanding issue if you want to use Bitcoin or Bitcoin Cash proper.
If you find problems, feel free to post them on the subreddit (or DM), tweet about them, or post them directly to the GitHub issues system where they should eventually end up anyway (you can use a free account). I also [do email](mailto:[email protected]).

Spread the gospel of peer-to-peer poker.
Get to know its deeper inner truths.
Play it, praise it, grow the flock!

Those would help a lot, actually. My laptop's been acting up and I'll probably need a new one soon. I also don't have regular internet access; makes working on this project challenging.
Bitcoin: 18yWpM7CnYox58YMJ2iVa1aJZCs1sufPhg
Bitcoin Cash: bitcoincash:qrgzc6nf6275er7k04tjwauf4ptm9mw9qcaq6fceup

If you have some web server space or Node.js / PHP+MySQL hosting please consider hosting a node. Limits have been built into the software (e.g. max database size), so you don't have to worry about it unnecessarily eating up resources. DM or [email](mailto:[email protected]) me for details.

Tournament funding and advertising are two immediate ideas that spring to mind but if you have any other sponsorship ideas I'd be happy to discuss them. Please contact me via DM or [email](mailto:[email protected]).

Quid Pro Quo

Perhaps you need a hand with one of your projects? Maybe you'd like a few guest blog posts? Possibly there's some other reciprocal arrangement you'd like to propose?
Contact me via DM or [email](mailto:[email protected]) to hash out the details.
submitted by monican_agent to cypherpoker [link] [comments]

Blockchain Dictionary for Newbies

Blockchain Glossary: From A-Z
51% Attack
When more than half of the computing power of a cryptocurrency network is controlled by a single entity or group, this entity or group may issue conflicting transactions to harm the network, should they have the malicious intent to do so.
Address
Cryptocurrency addresses are used to send or receive transactions on the network. An address usually presents itself as a string of alphanumeric characters.
ASIC
Short form for ‘Application Specific Integrated Circuit’. Often compared to GPUs, ASICs are specially made for mining and may offer significant power savings.
Bitcoin
Bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer.
Block
Blocks are packages of data that carry permanently recorded data on the blockchain network.
Blockchain
A blockchain is a shared ledger where transactions are permanently recorded by appending blocks. The blockchain serves as a historical record of all transactions that ever occurred, from the genesis block to the latest block, hence the name blockchain.
Block Explorer
Block explorer is an online tool to view all transactions, past and current, on the blockchain. They provide useful information such as network hash rate and transaction growth.
Block Height
The number of blocks connected on the blockchain.
Block Reward
A form of incentive for the miner who successfully calculated the hash in a block during mining. Verification of transactions on the blockchain generates new coins in the process, and the miner is rewarded a portion of those.
Central Ledger
A ledger maintained by a central agency.
Confirmation
The successful act of hashing a transaction and adding it to the blockchain.
Consensus
Consensus is achieved when all participants of the network agree on the validity of the transactions, ensuring that the ledgers are exact copies of each other.
Cryptocurrency
Also known as tokens, cryptocurrencies are representations of digital assets.
Cryptographic Hash Function
Cryptographic hashes produce a fixed-size and unique hash value from variable-size transaction input. The SHA-256 computational algorithm is an example of a cryptographic hash.
Dapp
A decentralised application (Dapp) is an application that is open source, operates autonomously, has its data stored on a blockchain, incentivised in the form of cryptographic tokens and operates on a protocol that shows proof of value.
DAO
Decentralised Autonomous Organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules.
Distributed Ledger
Distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. A distributed ledger does not have to have its own currency and may be permissioned and private.
Distributed Network
A type of network where processing power and data are spread over the nodes rather than having a centralised data centre.
Difficulty
This refers to how easily a data block of transaction information can be mined successfully.
Digital Signature
A digital code generated by public key encryption that is attached to an electronically transmitted document to verify its contents and the sender’s identity.
Double Spending
Double spending occurs when a sum of money is spent more than once.
Ethereum
Ethereum is a blockchain-based decentralised platform for apps that run smart contracts, and is aimed at solving issues associated with censorship, fraud and third party interference.
EVM
The Ethereum Virtual Machine (EVM) is a Turing complete virtual machine that allows anyone to execute arbitrary EVM Byte Code. Every Ethereum node runs on the EVM to maintain consensus across the blockchain.
Fork
Forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network.
Genesis Block
The first or first few blocks of a blockchain.
Hard Fork
A type of fork that renders previously invalid transactions valid, and vice versa. This type of fork requires all nodes and users to upgrade to the latest version of the protocol software.
Hash
The act of performing a hash function on the output data. This is used for confirming coin transactions.
Hash Rate
Measurement of performance for the mining rig is expressed in hashes per second.
Hybrid PoS/PoW
A hybrid PoS/PoW allows for both Proof of Stake and Proof of Work as consensus distribution algorithms on the network. In this method, a balance between miners and voters (holders) may be achieved, creating a system of community-based governance by both insiders (holders) and outsiders (miners).
Mining
Mining is the act of validating blockchain transactions. The necessity of validation warrants an incentive for the miners, usually in the form of coins. In this cryptocurrency boom, mining can be a lucrative business when done properly. By choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income.
Multi-Signature
Multi-signature addresses provide an added layer of security by requiring more than one key to authorize a transaction.
Node
A copy of the ledger operated by a participant of the blockchain network.
Oracles
Oracles work as a bridge between the real world and the blockchain by providing data to the smart contracts.
Peer to Peer
Peer to Peer (P2P) refers to the decentralized interactions between two parties or more in a highly-interconnected network. Participants of a P2P network deal directly with each other through a single mediation point.
Public Address
A public address is the cryptographic hash of a public key. They act as email addresses that can be published anywhere, unlike private keys.
Private Key
A private key is a string of data that allows you to access the tokens in a specific wallet. They act as passwords that are kept hidden from anyone but the owner of the address.
Proof of Stake
A consensus distribution algorithm that rewards earnings based on the number of coins you own or hold. The more you invest in the coin, the more you gain by mining with this protocol.
Proof of Work
A consensus distribution algorithm that requires an active role in mining data blocks, often consuming resources, such as electricity. The more ‘work’ you do or the more computational power you provide, the more coins you are rewarded with.
Scrypt
Scrypt is a type of cryptographic algorithm and is used by Litecoin. Compared to SHA256, this is quicker as it does not use up as much processing time.
SHA-256
SHA-256 is a cryptographic algorithm used by cryptocurrencies such as Bitcoin. However, it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains.
Smart Contracts
Smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network.
Soft Fork
A soft fork differs from a hard fork in that only previously valid transactions are made invalid. Since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. This type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version.
Solidity
Solidity is Ethereum’s programming language for developing smart contracts.
Testnet
A test blockchain used by developers to prevent expending assets on the main chain.
Transaction Block
A collection of transactions gathered into a block that can then be hashed and added to the blockchain.
Transaction Fee
All cryptocurrency transactions involve a small transaction fee. These transaction fees add up to account for the block reward that a miner receives when he successfully processes a block.
Turing Complete
Turing complete refers to the ability of a machine to perform calculations that any other programmable computer is capable of. An example of this is the Ethereum Virtual Machine (EVM).
Wallet
A file that houses private keys. It usually contains a software client which allows access to view and create transactions on a specific blockchain that the wallet is designed for.
submitted by Tokenberry to NewbieZone [link] [comments]

URGENT WARNING!!!!!!! BITCOIN PRICE BREAKING OUT TO THIS ... #920 Ethereum Token Aktien und Fonds, Bitcoin Hash Rate All Time High & Bitcoin com Wallet Stablecoi Der Bitcoin Absturz: Marktlage, Stimmung, Miner-Kapitulation, Hashrate , China & Co. Bitcoin hashrate ATH, XRP gotowe do pompy na 1$, Testnet ... Bitcoin Fundamentals: Mining

Testnet - Bitcoin Wiki. The testnet is an alternative Bitcoin block chain , to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main ... Testnet - Bitcoin Wiki. The testnet is an alternative Bitcoin block chain , to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain. Run bitcoin or bitcoind with the ... From Bitcoin Wiki: Testnet, Minimum difficulty of 1.0 on testnet is equal to difficulty of 0.5 on mainnet. This means that the mainnet-equivalent of any testnet difficulty is half the testnet ... The testnet is an alternative Bitcoin block chain, to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain. Run bitcoin-qt or bitcoind with the -testnet flag to use the ... The threshold is ≥1916 blocks (95% of 2016), or ≥1512 for testnet (75% of 2016). There could be two non-overlapping deployments on the same bit, where the first one transitions to LOCKED_IN while the other one simultaneously transitions to STARTED, which would mean both would demand setting the bit.

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