Final version 1.3.0 of the core software was released bringing all the enhancements reported last month to the rest of the community. The groundwork for SPV (simplified payment verification) is complete, another reduction of fees is being deployed, and performance stepped up once again with a 50% reduction in startup time, 20% increased sync speed and more than 3x faster peer delivery of block headers (a key update for SPV). Decrediton's integrations of SPV and Politeia are open for testing by experienced users. Read the full release notes and get the downloads on GitHub. As always, don't forget to verify signatures. dcrd: completed several steps towards multipeer downloads, improved introduction to the software in the main README, continued porting cleanups and refactoring from upstream btcd. Currently in review are initial release of smart fee estimator and a change to UTXO set semantics. The latter is a large and important change that provides simpler handling, and resolves various issues with the previous approach. A lot of testing and careful review is needed so help is welcome. Educational series for new Decred developers by @matheusd added two episodes: 02 Simnet Setup shows how to automate simnet management with tmux and 03 Miner Reward Invalidation explains block validity rules. Finally, a pull request template with a list of checks was added to help guide the contributors to dcrd. dcrwallet: bugfixes and RPC improvements to support desktop and mobile wallets. Developers are welcome to comment on this idea to derive stakepool keys from the HD wallet seed. This would eliminate the need to backup and restore redeem scripts, thus greatly improving wallet UX. (missed in July issue) Decrediton: bugfixes, refactoring to make the sync process more robust, new loading animations, design polishing. Politeia: multiple improvements to the CLI client (security conscious users with more funds at risk might prefer CLI) and security hardening. A feature to deprecate or timeout proposals was identified as necessary for initial release and the work started. A privacy enhancement to not leak metadata of ticket holders was merged. Android: update from @collins: "Second test release for dcrandroid is out. Major bugs have been fixed since last test. Latest code from SPV sync has been integrated. Once again, bug reports are welcome and issues can be opened on GitHub". Ask in #dev room for the APK to join testing. A new security page was added that allows one to validate addresses and to sign/verify messages, similar to Decrediton's Security Center. Work on translations is beginning. Overall the app is quite stable and accepting more testers. Next milestone is getting the test app on the app store. iOS: the app started accepting testers last week. @macsleven: "the test version of Decred Wallet for iOS is available, we have a link for installing the app but the builds currently require your UDID. Contact either @macsleven or @raedah with your UDID if you would like to help test.". Nearest goal is to make the app crash free. Both mobile apps received new design themes. dcrdata: v3.0 was released for mainnet! Highlights: charts, "merged debits" view, agendas page, Insight API support, side chain tracking, Go 1.11 support with module builds, numerous backend improvements. Full release notes here. This release featured 9 contributors and development lead @chappjc noted: "This collaboration with @raedahgroup on our own block explorer and web API for @decredproject has been super productive.". Up next is supporting dynamic page widths site wide and deploying new visual blocks home page. Trezor: proof of concept implementation for Trezor Model T firmware is in the works (previous work was for Model One). Ticket splitting: updated to use Go modules and added simnet support, several fixes. docs: beginner's guide overhaul, multiple fixes and cleanups. decred.org: added 3rd party wallets, removed inactive PoW pools and removed web wallet. @Richard-Red is building a curated list of Decred-related GitHub repositories. Welcome to new people contributing for the first time: @klebe, @s_ben, @victorguedes, and PrimeDominus! Dev activity stats for September: 219 active PRs, 197 commits, 28.7k added and 18.8k deleted lines spread across 6 repositories. Contributions came from 4-10 developers per repository. (chart)
Hashrate: started and ended the month around 75 PH/s, hitting a low of 60.5 and a new high of 110 PH/s. BeePool is again the leader with their share varying between 23-54%, followed by F2Pool 13-30%, Coinmine 4-6% and Luxor 3-5%. As in previous months, there were multiple spikes of unidentified hashrate. Staking: 30-day average ticket price is 98 DCR (+2.4). The price varied between 95.7 and 101.9 DCR. Locked DCR amount was 3.86-3.96 million DCR, or 45.7-46.5% of the supply. Nodes: there are 201 public listening nodes and 325 normal nodes per dcred.eu. Version distribution: 5% are v1.4.0(pre) dev builds (+3%), 30% on v1.3.0 (+25%), 42% on v1.2.0 (-20%), 15% on v1.1.2 (-7%), 6% on v1.1.0. More than 76% of nodes run v1.2.0 and higher and therefore support client filters. Data as of Oct 1.
Obelisk posted two updates on their mailing list. 70% of Batch 1 units are shipped, an extensive user guide is available, Obelisk Scanner application was released that allows one to automatically update firmware. First firmware update was released and bumped SC1 hashrate by 10-20%, added new pools and fixed multiple bugs. Next update will focus on DCR1. It is worth a special mention that the firmware source code is now open! Let us hope more manufacturers will follow this example. A few details about Whatsminer surfaced this month. The manufacturer is MicroBT, also known as Bitwei and commonly misspelled as Bitewei. Pangolinminer is a reseller, and the model name is Whatsminer D1. Bitmain has finally entered Decred ASIC space with their Antminer DR3. Hash rate is 7.8 TH/s while pulling 1410 W, at the price of $673. These specs mean it has the best GH/W and GH/USD of currently sold miners until the Whatsminer or others come out, although its GH/USD of 11.6 already competes with Whatsminer's 10.5. Discussed on Reddit and bitcointalk, unboxing video here.
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)
KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks. Three more wallets integrated Decred in September:
Atomic desktop wallet added Decred in version 0.1.31. The team answered many questions on Reddit.
AnyBit wallet added Decred. It features built-in price and news tracking. Notably, the source code is open for their Android and iOS wallets.
Coboadded Decred support into their Android and iOS wallets.
ChangeNow announced Decred addition to their Android app that allows accountless swaps between 150+ assets. Coinbase launched informational asset pages for top 50 coins by market cap, including Decred. First the pages started showing in the Coinbase app for a small group of testers, and later the web price dashboard went live.
The birth of a Brazilian girl was registered on the Decred blockchain using OriginalMy, a blockchain proof of authenticity services provider. Read the full story in Portuguese and in English.
Advertising report for September is ready. Next month the graphics for all the ads will be changing.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed. Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)
Raedah Group went on the streets of Portland, USA with a pretty blue tent. (photos)
Meetup at Binzantin Cafe in Taipei, Taiwan. @morphymore: "There were 20-ish attendees, and about half of them have joined the Chinese FB group. Most of them don't hear about Decred before, but have expressed the interest in learning more about it after the event. Overall, it's a good exposure for Decred in the Taiwan community.". A report with photos was posted on Facebook, more photos are here and here.
@joshuam made a Decred Jacket appearance at Singapore Grand Prix. (photos)
NewTech PDX meetup in Portland, USA. Raedah Group presented Decred and reported "lots of new converts". (photos)
North Shore Bitcoin & Blockchain in Glenview, USA. @dustorf gave a five minute overview of Decred and noted: "There were only about 25 people, but about 1/3 of them were aware of Decred prior. (...) Our simple presence and explanation of the project moved opinion from 'another shitcoin they sold after mining' to 'an interesting and viable project worthy of further investigation'.". (photos: 12)
Bitcoin Meetup CDMX in Mexico City on Oct 6. @elian will be talking about Decred at the oldest Bitcoin meetup in Mexico.
SF Blockchain Week in San Francisco, USA on Oct 9. @lukebp will discuss DPoS vs PoS on a panel 9:30a-10:15a at the Titans of Tech Stage, Hilton Union Square.
Decred Meetup in Casablanca, Morocco on Oct 27. @butterfly will host the event and talk about Decred in French.
Texas Bitcoin Conference Austin, USA on Oct 27-28. @BAB: "The great thing about this is that it will also be a Decred Summit. We will have half of the conference dedicated to Decred topics, updates, etc."
Websummit in Lisbon, Portugal on Nov 5-8. @moo31337 will be on a panel discussing "2018: A Rollercoaster Year for Cryptocurrencies"
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)
August issue of Decred Journal was translated to Russian. Many thanks to @DZ! Rency cryptocurrency ratings published a report on Decred and incorporated a lot of feedback from the community on Reddit. September issue of Chinese CCID ratings was published (snapshot), Decred is still at the bottom. Videos:
The underbelly of blockchain Governance - fiat licensing and our code with Marco Peerboom and Chris DeRose (youtube, tweet, decred, missed in August issue) Insightful dialogue about men's underwear, licenses, subtleties of GPL, BSD wars, tiling window managers and much more.
Introduction to Decred (Korean, youtube) @Killawhale collected a lot of feedback from the community and produced this video to spread the word in Korea.
Perspectives on Governance from Nathan Wilcox, Jonathan Zeppettini, Vitalik Buterin (z.cash)
Decred - an example of governance (Portuguese, youtube)
Decred, the crypto that wants to compete with Bitcoin (French, youtube)
Exodus.io Live with Marco from Decred! (youtube) Marco joins Exodus.io to discuss what makes DCR an asset that will stand the test of time.
Building Decred With Systems Development Lead Marco Peereboom - Governance, Politeia, Lightning (youtube) Topics: early days, Politeia, the structure of Decred, dcrtime, Lightning Network, attracting users and developers, future plans (DEX, Schnorr signatures, privacy, DAEs).
Decentralized autonomous funding of blockchain projects by @Richard-Red (medium, discussion on decred and dashpay)
The trouble with infrastructure, "thin" protocols in particular, is that someone has to build them at a cost. e.g. LN takes a ton of work, doesn't necessarily generate value itself, but it magnifies the value of BTC or whatever coin that uses it. I see the DEX in a similar light - whoever creates it is not going to make a bunch of money from it, but it will magnify the value of the underlying asset(s) that end up having a deep order book on the DEX. (@jy-p in #dex)
Twitter: why decentralized governance and funding are necessary for network survival and the power of controlling the narrative; learning about governance more broadly by watching its evolution in cryptocurrency space, importance of community consensus and communications infrastructure. Reddit: yet another strong pitch by @solar; question about buyer protections; dcrtime internals; a proposal to sponsor hoodies in the University of Cape Town; Lightning Network support for altcoins. Chats: skills to operate a stakepool; voting details: 2 of 3 votes can approve a block, what votes really approve are regular tx, etc; scriptless script atomic swaps using Schnorr adaptor signatures; dev dashboard, choosing work, people do best when working on what interests them most; opportunities for governments and enterprise for anchoring legal data to blockchain; terminology: DAO vs DAE; human-friendly payments, sharing xpub vs payment protocols; funding btcsuite development; Politeia vote types: approval vote, sentiment vote and a defund vote, also linking proposals and financial statements; algo trading and programming languages (yes, on #trading!); alternative implementation, C/C++/Go/Rust; HFTs, algo trading, fake volume and slippage; offline wallets, usb/write-only media/optical scanners vs auditing traffic between dcrd and dcrwallet; Proof of Activity did not inspire Decred but spurred Decred to get moving, Wikipedia page hurdles; how stakeholders could veto blocks; how many votes are needed to approve a proposal; why Decrediton uses Electron; CVE-2018-17144 and over-dependence on single Bitcoin implementation, btcsuite, fuzz testing; tracking proposal progress after voting and funding; why the wallet does not store the seed at all; power connectors, electricity, wiring and fire safety; reasonable spendings from project fund; ways to measure sync progress better than block height; using Politeia without email address; concurrency in Go, locks vs channels. #support is not often mentioned, but it must be noted that every day on this channel people get high quality support. (@bee: To my surprise, even those poor souls running Windows 10. My greatest respect to the support team!)
In September DCR was trading in the range of USD 34-45 / BTC 0.0054-0.0063. On Sep 6, DCR revisited the bottom of USD 34 / BTC 0.0054 when BTC quickly dropped from USD 7,300 to 6,400. On Sep 14, a small price rise coincided with both the start of KuCoin trading and hashrate spike to 104 PH/s. Looking at coinmarketcap charts, the trading volume is a bit lower than in July and August. As of Oct 4, Decred is #18 by the number of daily transactions with 3,200 tx, and #9 by the USD value of daily issuance with $230k. (source: onchainfx) Interesting observation by @ImacallyouJawdy: while we sit at 2018 price lows the amount locked in tickets is testing 2018 high.
ASIC for Lyra2REv2 was spotted on the web. Vertcoin team is preparing a new PoW algorithm. This would be the 3rd fork after two previous forks to change the algorithm in 2014 and 2015. A report titled The Positive Externalities of Bitcoin Mining discusses the benefits of PoW mining that are often overlooked by the critics of its energy use. A Brief Study of Cryptonetwork Forks by Alex Evans of Placeholder studies the behavior of users, developers and miners after the fork, and makes the cases that it is hard for child chains to attract users and developers from their parent chains. New research on private atomic swaps: the paper "Anonymous Atomic Swaps Using Homomorphic Hashing" attempts to break the public link between two transactions. (bitcointalk, decred) On Sep 18 Poloniex announced delisting of 8 more assets. That day they took a 12-80% dive showing their dependence on this one exchange. Circle introduced USDC markets on Poloniex: "USDC is a fully collateralized US dollar stablecoin using the ERC-20 standard that provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors.". Coinbase announced new asset listing process and is accepting submissions on their listing portal. (decred) The New York State Office of the Attorney General posted a study of 13 exchanges that contains many insights. A critical vulnerability was discovered and fixed in Bitcoin Core. Few days later a full disclosure was posted revealing the severity of the bug. In a bitcointalk thread btcd was called 'amateur' despite not being vulnerable, and some Core developers voiced their concerns about multiple implementations. The Bitcoin Unlimited developer who found the bug shared his perspective in a blog post. Decred's vision so far is that more full node implementations is a strength, just like for any Internet protocol.
About This Issue
This is the 6th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack. Contributions are also welcome: some areas are adding content, pre-release review or translations to other languages. Credits (Slack names, alphabetical order): bee, Dustorf, jz, Haon, oregonisaac, raedah and Richard-Red.
QRL Versus IOTA - An Overview of Quantum Resistant Cryptography
QRL and IOTA (iota) are quantum resistant cryptocurrencies - to my knowledge, they are the only such cryptocurrencies. I wanted to learn some more about the differences between the two and I thought it would be helpful to share my research with the QRL community. Disclaimer: I own an amount of both QRL and IOTA. QRL QRL uses hash-based XMSS digital signatures and Winternitz OTS+ digital signatures for security. The QRL protocol is a custom POS algorithm which uses iterative hash-chains for randomness. (Source) And we're in the weeds already. Here are some definitions: Hash-based cryptography: This is the digital security which is implemented by a cryptocurrency. The different types of digital security are defined as digital signature schemes. There are many different signatures out there: Bitcoin uses Secure Hash Algorithm 256-bit (SHA-256); Ethereum uses Ethash; QRL uses XMSS - see below. XMSS: A hash-based signature scheme (eXtended Merkle Signature Scheme). XMSS is designed specifically as an efficient post-quantum signature scheme. XMSS is PQ-CRYPTO recommended. ("PQ-Crypto is a forum for researchers to present results and exchange ideas on the topic of cryptography in an era with large-scale quantum computers." I won't go much more into this, although it appears to be a solid endorsement of the digital signatures chosen by QRL.) Winternitz OTS+ (W-OTS+): A hash-based signature scheme, or more specifically a Winternitz type one-time signature scheme (W-OTS). Here is an extract from the QRL Whitepaper explaining the difference between OTS and OTS+ signatures:
Buchmann introduced a variant of the original Winternitz OTS by changing the iterating one-way function to instead be applied to a random number, x, repeatedly but this time parameterised by a key, k, which is generated from the previous iteration of fk(x). This is strongly unforgeable under adaptive chosen message attacks when using a pseudo random function (PRF) and a security proof can be computed for given parameters. It eliminates the need for a collision resistant hash function family by performing a random walk through the function instead of simple iteration. Huelsing introduced a further variant W-OTS+, enabling creation of smaller signatures for equivalent bit security through the addition of a bitmask XOR in the iterative chaining function. Another difference between W-OTS(2011 variant)/ W-OTS+ and W-OTS is that the message is parsed log2(w) bits at a time rather than w, decreasing hash function iterations but increasing keys and signature sizes.
Future improvements planned for QRL include second layer protocol enhancements: an Ephemeral messaging layer which uses lattice-based crypto to enable completely private, and cryptographically authenticated end-end post-quantum secure data channels. As these are not yet implemented, I will not dig into them. IOTA IOTA uses a custom hash-based signature called Kerl and implements Winternitz digital signatures for security. Kerl is written in ternary/trinary, as compared to the traditional binary. Kerl is the recently upgraded version of Curl, which was upgraded due to the discovery of a security flaw. (The details of this flaw are best left for another post. I discovered this news while researching this post; I will assume Kerl solves the vulnerability issues of Curl for the purposes of this post.) The official explanation of the quantum proof nature of IOTA is as follows (emphasis mine):
IOTA uses hash-based signatures (https://www.imperialviolet.org/2013/07/18/hashsig.html) instead of elliptic curve cryptography (ECC). Not only is hash-based signatures a lot faster than ECC, but it also greatly simplifies the overall protocol (signing and verification). What actually makes IOTA quantum-secure is the fact that we use Winternitz signatures. IOTA's ternary hash function is called Curl.
4.3 Resistance to quantum computations It is known that a (today still hypothetical) sufficiently large quantum computer can be very efficient for handling problems where only way to solve it is to guess answers repeatedly and check them. The process of finding a nonce in order to generate a Bitcoin block is a good example of such a problem. As of today, in average one must check around 268 nonces to find a suitable hash that allows to generate a block. It is known (see e.g. ) that a quantum computer would need Θ(√N) operations to solve a problem of the above sort that needs Θ(N) operations on a classical computer. Therefore, a quantum computer would be around √2 68 = 234 ≈ 17 billion times more efficient in Bitcoin mining than a classical one. Also, it is worth noting that if blockchain does not increase its difficulty in response to increased hashing power, that would lead to increased rate of orphaned blocks. Observe that, for the same reason, the “large weight” attack described above would also be much more efficient on a quantum computer. However, capping the weight from above (as suggested in Section 4) would effectively fence off a quantum computer attack as well, due to the following reason. In iota, the number of nonces that one needs to check in order to find a suitable hash for issuing a transaction is not so huge, it is only around 38. The gain of efficiency for an “ideal” quantum computer would be therefore of order 34 = 81, which is already quite acceptable (also, remember that Θ(√N) could easily mean 10√N or so). Also, the algorithm is such that the time to find a nonce is not much larger than the time needed for other tasks necessary to issue a transaction, and the latter part is much more resistant against quantum computing. Therefore, the above discussion suggests that the tangle provides a much better protection against an adversary with a quantum computer compared to the (Bitcoin) blockchain.
Quarkchain (QKC): High Capacity Transactional Blockchain
QuarkChain (QKC) is trying to solve one of the most pertinent issues that cryptocurrencies currently face, that of the blockchain trilemma. The project has been gaining quite a bit of traction ever since their successful ICO earlier this year. People were intrigued by the promise 1m transactions per second built on a two-layered blockchain that will implement sharding. However, are these just mere promises in another whitepaper? In this QuarkChain review, we will take a deep dive into the project by analyzing not only at the proposed technology but also at the practicality of it. We will also look into the team members, adoption, roadmap, and long-term QKC token prospects. With that being said, let’s jump right into the need for a QuarkChain like a solution.
What is QuarkChain?
QuarkChain is a decentralized blockchain that is also permission-less and secure, but most importantly it is scalable. The QuarkChain team has as one of its major goals to utilize sharding technology and deliver in excess of 1 million transactions per second. It is looking to become the blockchain for high capacity throughput, delivering a solution that is secure and fast enough for widely used decentralized applications (dApps). Scalability has been one of the biggest hurdles faced by blockchains in 2018, and QuarkChain was created specifically to resolve scalability issues faced by blockchains. This has become an urgent issue for the industry, and is one that the team feels simply cannot wait any longer. They have embarked on providing a solution that may be different from those put forward previously, but could also be the one that actually works best. They’re not afraid of needing a hard fork if that’s what it takes to succeed.
QuarkChain’s sharding technology will enable up to 1 million transactions per second. As a comparison, Bitcoin can only deliver 4 transactions per second, while Ethereum delivers 10 transactions per second. Even the Visa network is only capable of delivering 45,000 transactions per second. If QuarkChain can meet the goal of 1 million transactions per second it will be by far the fastest network on the planet. This could see it overtaking Ethereum as dApp developers switch to QuarkChain to support increased usage. Sharding is the primary reason that QuarkChain can deliver such a fast network, but since it is a blockchain it still brings decentralization and security. And the development team have experience at major tech companies, giving them the ability to create and deliver a large-scale distributed system. It also gives the team the knowledge needed to create scalability by extending their knowledge of centralized systems to the decentralized QuarkChain system.
QuarkChain Beyond High TPS
QuarkChain has pointed out that there are other projects that have transaction per second rates that are greater than the Visa 65k per second, but then go on to point out that TPS isn’t the only metric that needs to be considered in a network. The QuarkChain team specifically mentions Alipay, which has reached 200,000 transactions per second, but has done so by sacrificing decentralization and security. QuarkChain is aiming for scalability that includes decentralization and security, making it a superior network, if the team is successful.
Why QuarkChain is Different
Besides its focus on fast throughput, there are other features of the QuarkChain network that make it different from other decentralized blockchain projects. One of these features is the incentivization of weak miners to participate in the network without joining a mining pool. This incentive is based on game theory and works by giving miners an incentive for distributing hash power equally among the shards. This also increases decentralization. Another way that decentralization is encouraged is through the use of multiple cheap nodes which are joined in a cluster to make a super-full node. By using cheap nodes in clusters to create super-full nodes, the project avoids the high expenses that super-full nodes are subject to in high transaction per second environments. The network increases security by providing every transaction with the protection of 50% of the network hash power. By combining this protection with network decentralization it becomes nearly impossible for a bad actor to conduct a double-spending attack. The structure of QuarkChain is reliant on two layers. The first layer consists of sharding blockchains, called shards, and the second layer is the root blockchain which is used to confirm shards blocks and provide security for the entire network. QuarkChain has also built-in support for cross-shard transactions, and was built so that one account can be used for all the shards. It was also designed so that a single smart wallet is used to hold all the cryptocurrencies that can be associated with various shards. The benefit of the cross-shard transactions is that they can be issued anytime, and can be confirmed within minutes. The cross-shard transaction throughput also increases linearly as the number of total shards increases, providing scalability.
How to get Involved with QuarkChain
QuarkChain has offered several ways for the community to get involved in the project. The testnet for the project was only launched in May 2018, but prior to the launch they actively recruited 100 volunteers from the community to act as beta testers. It also welcomes anyone with blockchain development experience and a strong technical background to get involved in the project. On September 17, 2018 the team made their code open source on Github so that anyone can inspect it. Further, they are running a developers contest to see who can build a QuarkChain testnet by running their own nodes/clusters and achieve the greatest transactions per second utilizing a provided load test. The winner will receive 1 BTC, with additional prizes for places 2 through 10. Currently, the peak testnet performance is 14,755.25 transactions per second.
QuarkChain Tokens (QKC)
QuarkChain tokens have the ticker symbol QKC and they are currently ERC-20 compatible tokens on the Ethereum blockchain. Once the QuarkChain mainnet is launched these will be converted to native tokens through a premine, and in the future miners will produce QKC tokens. QuarkChain held their ICO in June 2018, raising $20 million at a token price of $0.0197. There was a total of 10 billion tokens created, with 20% allocated to the ICO sale. The rest of the tokens were allocated as follows: 15% to the development team, 5% to the project advisors, and 15% for the QuarkChain foundation. The remaining 45% is to be allocated for marketing, mining and to the community. It’s already been noted by the QuarkChain team that mining is likely to create some inflation in the future.
2018 has seen a massive focus on scalability issues from across the blockchain ecosystem. While there are several other projects looking to solve the scalability problem, the QuarkChain sharding solution is on track to create a blockchain free of scalability issues. If they accomplish this it would be a great breakthrough for blockchain technology, since many of the planned applications using blockchain technology are hampered by issues of scalability. It’s true that the project is still very much in development, but they have made great progress, and have been hitting their projected completion dates with regularity. This leads to confidence in the team and the project, and if the mainnet launches before the end of 2018 this could become one of the most talked about blockchain projects in 2019.
We should pirate the entire piratebay.org website and all it's functionality directly on to the Bitcoin Cash blockchain. The piratebay.org is just magnet links and comments. Then they will say bcash stole our business ... (232 points, 439 comments)
Fees higher than a dollar cent or waiting times longer than a couple of seconds defeat the entire purpose of why Bitcoin was invented. (218 points, 164 comments)
Bitcoin Cash can turn in to the biggest non violent protest against the establishment ever : "We simply stop using their money." Which is a great way of getting edgy teenagers to join us. There is an almost infinite supply of edgy teenagers in the world. (156 points, 42 comments)
The retard tribalism is so real. SBI japan's financial giant says they will launch a platform with BCH as settlement coin (due to BTC being bad) and XRP as remittances. I provide the link and cryptocurrency shills deny plain literally declared fact. (124 points, 50 comments)
Reminder: Blockstream plans to make money from the proprietary solutions it sells, which is why it moved away from the free permissionless blockchain to an abstracted layer on top which requires 3rd party solutions to be cost effective for most users. (220 points, 146 comments)
It seems there's been a massive propaganda campaign to brainwash people into thinking hardforks are bad. (180 points, 56 comments)
BCH could really be missing the new big use case. Gamers would love to have real ownership of game items. The first game which will integrate a digital coin and make it popular will be groundbreaking. (141 points, 76 comments)
If BCH had decent privacy features it'd gain so much more market share. It's hard to compete with privacy-always-on coins such as XMR but many more coins offer moderate privacy and would be easy to beat. (42 points, 31 comments)
I am excited that BCH is being irrationally criticized, because it reminds me of 2011 and 2012 when Bitcoin was being irrationally criticized. Any of 2013, when the price rose 100x. (183 points, 82 comments)
Let's start a class action lawsuit against Canada for calling their currency the dollar. I accidentally bought CAD when I wanted USD, and didn't know I could just exchange it again. (511 points, 243 comments)
322 points: rdar1999's comment in My dog ate my TREZOR. Check your recovery seeds folks!
314 points: my_next_account's comment in Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.”
259 points: everyother's comment in 1 For whoever questions the utility of Bitcoin, here's banking summarized accurately
225 points: morli's comment in Can’t believe this was available. My new license plate..
---> CREDITS CRYPTOCURRENCY CRED CX : JULY - AUGUST COMMUNITY UPDATES AND RUNNING ANALYSIS
https://new.reddit.com/CreditsCryptocurrency/comments/937w1n/we_need_to_talk_about_credits_llc_re_cfo/ We entered into August 2018 now a full 7 months after the launch of Cred CX @ Credits.Energy As the jingle goes we have been hearing "Credits Cryptocurrency, Supports Green Energy" Many are only waiting to have an exchange listing.... Many are questioning what they really have received after they paid for their Cred CX coins. Most do not know they are still waiting for an actual Cred CX cryptocurrency coin. If you read this I hope it will help educate some on matters of a cryptocurrency the one in review here is based upon cryptonote - The most popular cryptocurrency like Cred CX is Monero. I would go over the last 7 months but there is little to Report. So little to report that Credits has not released a much anticipated end of July update as they did with the end of June. The end of June report was mostly about challenges and future or forward thinking and goals. Nothing in the way of a verifiable blockchain / coin. Some ICO fundamentals: ~Dollars and Cents~ How well did the pre ICO and ICO and Now crowd sales do from a financial perspective is not clear to to purchasers and or investors alike. The only thing I find is that in a May 2018 they edited the timeline infograph they ~ failed to reach the softcap of 100 million Cred CX sold. They have subsequently said that they have exceeded the softcap but have not made known a hard cap, nor do we know how many Cred CX where purchased as of this date. As well they also have not published any official figures from their corporate offices regarding bonuses, incentives, airdrops or other distributions etc. This in addition to corporate distribution among themselves and their stake or holdings, the company, and what appears to be a un published foundation or "entity", there are no details about any such entity as of yet in our knowledge. Perhaps the whitepaper plans have changed again with out noting public revisions. We do know that they are still taking orders for Cred CX and are reportedly going to "explore" merchant account options. July saw Paypal suspended on Credits.Energy website. Another red flag. Our analysis leads us to think it went something like this... Read the following:https://www.reddit.com/CryptoCurrency/comments/7zkzjz/go_fuck_yourself_paypal/ Hello xxxxx, We are writing to you in regards to your PayPal Account. PayPal appreciates that you have chosen us to accept payments for your business. A periodic review of your account shows that you are cryptocurrency trading using PayPal. However, unfortunately we have determined there to be excessive risk involved with the business model that you engaged in using PayPal. While we wish you the best of success in your future business endeavors, we respectfully ask that you seek another method of payment for the online business. Your remaining balance will be held in your PayPal account for 180 days from the date your account was limited. After 180 days, you will be notified via email with information on how to receive your remaining funds. We deeply regret any inconvenience this matter may cause you. Sincerely, PayPal Compliance Department PayPal" ^^The above was of an IOTA trader a well established coin. Cash is still king with this ICO it appears. Looking at their past known published crypto addresses used at some time over the last 7 months to receive crypto payments for orders of Cred CX it reveals "nominal" volumes. The current address advertised shows zero activity for in puts and out puts at the time of this writing. I it is another cleaning of the crypto slate as it where. No update notification has been given of the change on social media other than now perhaps here. By publishing the explorer to their adresses and hashes here I am not promoting anything. You can explore them here: Bitcoin: https://www.blockchain.com/btc/address/1JFz4UHRrsKnL5aGj5V87FxFz7RxAmDJ3m?sort=0 Ethereum: https://etherscan.io/address/0x8ca65a6e0839ea2de06e0741b6325b9629eff928 With out the public having kept track of previously published address one would not know that they raised anything via crypto during this ICO and the pre ICO based on currently available data. Please see this post for IMPORTANT INFORMATION: https://new.reddit.com/CreditsCryptocurrency/comments/937w1n/we_need_to_talk_about_credits_llc_re_cfo/ ~ EXCHANGE LISTING/S ~ There is no data to reference as to who Credits llc has been in talks with or what applications they have submitted to whom. They say that is what they are doing still. Acceptance is reported to have been granted by two exchanges as to why thy have not taken the listing offer and acted upon it until now is not clear at all. They have said they want to get it just right and the coin was not ready for release and others agreed. I am presuming that includes exchanges feedback, with out comments on the acceptance and negotiating there is nothing definitive I can find to clarify anything re exchange listings chatter. The exchange listing seems to be the number one question with Cred CX owners. ~CODE~ We did not see any new code commits to the official github. Reginald Gaines created the first cryptonote fork 2 years ago. Forked from Appinvestocred and is found here: https://github.com/CreditsCryptocurrency/cred-1 Appinvestor Reginald Gaines aka Appinvestor a seemingly abandoned github account that points to a now defunct domain and email, attached to a Business "AppInvestor.Co Inc" Seattle Wa USA [[email protected]](mailto:[email protected]) http://www.appinvestor.co/ We do see the blockchain project for Cred CX "CRED-1" was updated 6 months ago on or about the time Reginald Gaines was last known to be developing for Credits LLC. Reginald Gaines was known by me to have been paid by the founders based on past phone conversations, In fact I advised founder Luke to cut him loose as he was at the time failing to deliver as contracted and development of the blockchain rested solely with him. He was holding the project up and I advised Luke to not be held hostage by a prepaid contractor and take the loss and move on quickly. Last conversation I had with him about it in Feb 2018 he reported to me that he had candidates lined up to replace him. Mobile apps: Bidhan Baral Co founder of Technojagat.com is said to be responsible for the android and iOS apps. We are not certain that what Bidhan and or others @ Credits in collaboration have released is a cryptocurrency / blockchain wallet. On Andorid the back end is served by firebase.google.com Firebase is built on Google infrastructure and scales automatically, for even the largest apps. Firebase is not a open distributed ledger aka blockchain. Credits plans to include a credits run private (in app) auth network in tandem with an actual open distributed ledger. How they have implemented this is unknown. App Store Preview gives it a 5 out of 5 out of 8 Ratings currently. The current progress report is minor setbacks re the mobile miner. No reports on any Windows, Mac, Linux wallets, or mining pools. As for as we know there is no published list of mining nodes or if code exist for "testnet" and or actual mining. We have seen no community activity among miners to create their own pools to Mine Cred CX and there are literally billions that need to be mined. What kind of computing infrastructure is Cred CX relying on in the future or have already deployed the blockchain on, who are the service providers, they are part and parcel to a healthy "ecosystem" who are the supply partners? I am not convinced that withholding details about logical questions asked of a blockchain company start up, or not, is good for business. The current advertised CTO @ Credits.energy is Justin Farmer, he has a previous private relationship with Rick Floyd CEO before both of them came to Credits.energy executive team. He has been the chief technical officer according to the website since approx mid March of 2018...? Justin's code developments or those of others he is in charge of as CTO appear to be one of the most closely guarded secrets about Credits LLC's coin Cred CX's development, just as much as fundraising data and operations. Although this is not a secret many people do not know about the webwallet (https://wallet.credits.energy/) that is believe to be in part coded by Justin and Bindam. There are no verifiable details know to me. It is the code that I can reference as proof of development and evidence of an accomplishment task as set forth in the companies whitepaper... We do not beieve it is a webinterface to an actual blockchain but the same corporate ledger as is found in firebase.google.com that drives the android app. Why Credits LLC Cred CX did not update github over most of the life of this opensource code based project has no official explanation as far as we are aware. Why they have not released where the development logs and code are is a mystery to us. We have to presume that there are in fact those things some where. Both developmentally as is financially this companies ICO has been anything but transparent where it matters most. Lastly on the subject of this topic heading is Steven Crider the Sr. Product Analyst is hoped to be in a position to provide his analysis on the product. ~GREEN ENERGY~ "Kendra" highlights the relationship between Credits (CRED - CX) and renewable energy. https://www.youtube.com/watch?v=YjSKSKMeK0k - Published on 2 May 2018 ^^That is pretty much all of what some know regarding aabout Cred CX and how it support green energy. Last know relationship building with green energy groups was focused on Denver area associations. A Missed speaking engagement. Former acting CEO and Credits LLC's founder Mr. Ingraham was said to have be confirmed as speaking on March 13th at Solar Power Mountain West about how Credits LLC via Cred CX is incorporating blockchain technology into the renewable energy sector. Mr. Ingraham was not able to attend that conference @ Colorado Solar Energy Industries Association (COSEIA). Since that time there has been no updates regarding green energy relationships or building a community of interested parties in the purported solar energy project on the outskirts of Denver Colorado. With out a doubt the real world clean or green energy producing project is the most significantly complex and challenging part for Credits LLC and it's Cryptocurrency with a purpose . It seems that Jared Wells has the best publicly documented insight on how credits is actually thinking in part what they are achieving in what can be called a Green energy Cypto Currency - A Crypto with a purpose. "Credits.Energy, the “crypto with a mobile mining app that supports green energy,” aims to virtually eliminate the cost of supporting renewable energy. We asked Credits.Energy COO, Jared Wells, to explain what the current barri-ers to entry are in the renewable energy market: “Mainstream adoption of solar and wind power is all about efficiency. Obviously, if I put a solar panel on my house, I need batteries to harness that power overnight, charge controllers to manage wattage and voltage, and a way to integrate that energy into the power system. These same basic components are required whether you have 1 panel or 400 panels . . . 1 turbine or 50 turbines. . . . So while the overall cost per watt in the solar and wind power har-nessing platform decreases incrementally by increasing the number of generation components involved in the sys-tem, it is inversely more expensive per unit of electricity to implement the smaller scale systems that can be afford-ed by an individual homeowner. In addition to that, there are so many people who live in leased or rented housing and are unable to attach solar panels or wind generators to their residences or who maybe just can’t afford to have their own system.... Credits.Energy intends to resolve this problem by allowing for simple purchasing and management of the CRED cryp-tocurrency token through their intuitive website and mobile applications. " Source: https://cryptogo.news/2018/04/21/pr-green-energy-crypto-credits-energy-ico-is-now-live/ Google search: Credits.Energy ICO is now live Jared wells As it is with the CEO, CFO, CTO, and Developers, Operations @ Credits has very little shared data on the strides taken to invest into a green energy project/s on the outskirts of Denver Colorado. The location of the Solar Project remains undisclosed. There has been no comments by the COO Jared or press releases with regards to acquisitions, investment or strategic partnerships with any Green energy related entities to date. Participants in this ICO who participated based on the green energy components are due for a long anticipated report on how their investment and purchases have contributed to green energy, the environment and how it has helped the Cred CX ecosystem" and various charities. ~Community and Ecosystem~ Other than this reddit and the Facebook & Twitter pages Credits does not have a perceptible community. Some cryptonote forks attract anaon coin investors, cryptopunks, miners etc. As there is know known blockchain and wallet / node / miner for Cred CX it is no surprise they have not joined our ranks as of yet. There is always the future. Adoption and traction take time and delivering open source software tools to the community to create an ecosystem / auth network and mine the coins as reward for participation in the auth network. Potentially billions and billions of of hashes waiting to make this a viable anaon coin. As for Ecosystem there is none that we can speak of. One can use the apps or webwallet to send and receive in app tokens. The functionality is only extended to include the ability to send a one line note. We have not tested to see what is the character limit is or if it is encrypted and will be recorded on the immutable open ledger. So as a community, or one on one, holders I suppose could use it as a message or note app. It would "cost" you 1 Cred CX per as many characters you can write in the line space provided. Although Cred CX is as said as being based on cryptonotes cryptonight algorithm it shares the note feature. XDN has built a solid cryptonote enterprise on this one feature. Cred CX is it's sibling technically speaking. "DigitalNote XDN is a decentralized private cryptocurrency. It is based on CryptoNote anonymous technology and has a unique untraceable encrypted messaging system with blockchain based staking for a defined period." https://digitalnote.biz/ There is always a bright side and we hope Cred CX will come into that as soon as is possible. DigitalNote XDN had a name change and a history that had it reinvent it's self several times... About DigitalNote XDN Formerly known as DarkNote XDN Formerly known as duckNote XDN As you can see they have had some stormy seas and needing to "right the ship". The question is how is Cred CX navigating those waters? "May 30, 2014 — day of the first XDN block" We have been long waiting and anticipating the announcement of Cred CX first block announcement. With a new cryptocurrency the first block mined is like the fist minting of a new coin in metal. It is generally a celebrated event and anniversary date. Accounts... It is unclear how one deletes or closes out their accounts. Example in the case of refunds. Do you send them back their Cred CX using the convenient email address feature they sent it from and use the Note space to file an invoice / refund? After that is settled how does one close the account out for good. How does one close an account or in cypto speak burn their coins with proof (on the open blockchain). Not being able to transfer off app has left Cred CX use limited to, limited in app only functionality. I have not ever seen any press or pr promoting this feature alone. A community of testers would have really helped. No group feed back forum was used including this the reddit group. That leads us to... ~ PR / IR / Social Media ~ Very little evidence of a concerted social media campaign/s Relative new comer to the Credit's team is Torin Tostanoski the "Social Media Strategist". The strategy seems to be that less is more in the way of social media and customer relations / support. As was pointed out to me in analysis of this aspect of this ICO was that one could have looked at the youtube channel and some have said it speaks volumes perhaps even enough to make an informed decision to pass on Cred CX - https://www.youtube.com/channel/UChi2qFyDx5mynP52lTjDRLQ Stats Joined Jan 16, 2018 162 views 0 Comments VIDEOS: Uploads 1 title "Credits Cryptocurrency & Platform" 162 views 6 months ago It appears to be abandoned. Rick Floyd has a youtube Chanel set up for credits but the original "official" youtube account is inactive for over 6 months now.... Bitcointalk.org - Good news they created a Topic for Cred CX there. A powerful creditable account and community to have a voice in as an ICO, trader, miner. Minimal activity on the content and any substantial information shared has given no cause for exposure to arguably an ICO's best source of support in all things cryptocurrency. It is a market place for ideas and collaboration as well as investment and traders. See: https://bitcointalk.org/index.php?topic=3086671.20 Most PR was done in the form of paid for press releases and they where picked up and syndicated on crypto centric investments aka ICO's and technology blogs. I do not know of the effectiveness of the paid adwords and facebook ads. Facebook delivered a blow to all ICO's this year with a change in policy. Many holders of Cred CX are baffled by the choice to not improve Credits social media presence and reach. As it is, it remains a decidedly non communicative, non transparent ICO on this front as well. With some issues in its executive ranks, lacklustre ICO participation, and very little to report regarding progress some might think it not surprising to have a policy that seems to be based on one of silence is golden. ~WHERE ARE WE AT?~ The issue is at this point very, very, basic: Where are our cryptonote blockchain tokens / coined as Cred CX? What many holders in the public do not know is they do not need an exchange or mobile app with a mobile miner to hold the coins and exchange them. We have yet to see code written by them for the actual blockchain. There are mobile apps and a webwallet. OK. Where are Windows, OSX, and Linux wallets and miners? Where are Cred CX testnet/s? and the credits internal node network? Who has been recruiting or building a mining pool? This reddit should be abuzz with posts about such things and @ Bitcointalk.org The last update on twitter after a full calendar month of no updates @ credits.energy we hear that there are minor set backs and re the mobile mining feature. That could very well may be. It is understandable to have compliance issues both technical and policy, to not ever reference technical or policy data is a red flag for many. It also does not explain why a mobile platform with an off app network cannot not give us our hashes, our coins on an immutable ledger aka blockchain. Cred CX Cryptocurrency a cryptonote fork is an anonymous coin by default. Transactions on the apps and on credits internal auth network are not truly anon, and require the public open blockchain for distributed off credits network authentications of transactions for them to be so. We have not been given it. When looking at credchain.org (<--- Hint the foundation that is or is not?) it redirects to credits.energy. The chain explorer is not publicly active nor is the source code for anything as far as we can see other than the github - Last updated 6 months ago... It is a fork (a copy for those who might not know what a fork is) - no development code or update to or of code have been committed to the projects opensource software repository as advertised on the website. How is the premine going? Is it started or over? Where are the cryptonotes coined and mined as Cred CX? Do I need a mobile app with mining features to use my cryptonote wallet, no, no one does. So if a "feature" is what the project hangs on that is a red flag. A quick way Cred CX could be made viable and live right now is like this: MyMonero is the only web wallet for Monero. It is operated and owned by Riccardo Spagni, who is one of the lead Monero developers. The wallet works like any account. You create an account and can login online to access your funds. MyMonero only encrypts your keys and stores the data on its servers. It cannot access your funds. See https://mymonero.com/ for a live example Monero Desktop Wallet The best and only Monero desktop wallet is the official client which is a full node. It can be downloaded from the official Monero website. Credits position: "...crypto with a mobile mining app..." A Crypto. A mobile mining app. One does not need a mobile mining "feature" in an app for there to be a coin or crypto wallet, in fact it is quite the opposite in certain respects. "Technicalities" --------------------------------------------------------------------------------------------------- So set backs as of August 2018... We have no progress reports we just have our own ongoing independent analysis. I hope this has been helpful to the community. Your feed back is welcomed. If you have questions or concerns feel free to post here. Start a new topic. I am certain there are other things people can share here that would be of a benefit to the community as small as it may be at the moment. Supporters and fans of Cred CX are welcomed to share what good news the have and what inspires their enthusiasm and support for Cred CX. COME WAVE THE GREEN FLAGS FOR CRED (CX) We are looking into sponsoring a Cred CX airdrop and give aways! Tell your Friends :-) We hope for the best and truly want to see the CRED CX coin succeed "Stay tuned" here for more in depth reports and analysis on (Cred) (CX) John
Activities in the Litecoin world, addendum to "Litecoin State of the Union"
Dear Litecoin Community, You may have seen recently I made a post titled “Litecoin State of the Union”, which was made in order to clarify what was going on in the world of Litecoin, and calm peoples fear about asics, price, as well as let folks know what the LA and other community members are working on in the LTC eco-system. With that said, I felt the response for the most part was very positive and really got some of the community members engaged and more knowledgeable of the activities and initiatives that are going on. So I wanted to elaborate a bit on a number of activities that the community is trying to put together as well as areas where we need some help in. Safe network alliance pledge We are very aware of coinotrons recent issue with the %51 network hash rate. Because of this, we have formed a pledge to pools to take in order to state the will be %28 or below the network hash rate. This is important to prevent time warp attacks on the network (which can happen with any coin, and cause the hacker to fake data and issue fake coins to themselves). Please spread the word to the pool you mine at, and request them to take the LA/LTC pledge for a safer network located here https://litecointalk.org/index.php?topic=20028.0. Litecoin video After much back and forth, and starting a video, we decided to scrap the original and start again. One of our Litecoin Association members, Saigoned, stepped up as the project manager and will see this come to fruition. It was decided that we would assign bounties to this project in order to get this complete so we can show folks and merchants. Therefore, 65 LTC has been set aside to help pay for certain aspects of the video (50 of which was donated by the Litecoin Association). Please see https://litecointalk.org/index.php?topic=19799.0 for more details on the project and bounty. Also, special thanks to Losh11 that help start this initiative! New wallet splash screen With the up and coming release of the new Litecoin QT wallet (which will be called “Litecoin Core”) ver 0.9, there is an initiative to have a new splash screen made by the community for the developers to use. Warren, lead Litecoin Dev, proposed to get the community more involved and wanted to use new splash screens for both the main loading screen and the testnet screen. Please see https://litecointalk.org/index.php?topic=19989.0 for more details on this project along with deadlines. NOTE: Current deadline is June 4th, which I have requested an extension so that the reddit community can submit their work. Electrum Wallet Electrum wallet is still in beta testing to ensure everything is working properly. This is an important project for the Litecoin community as a whole. Pooler is the developer working on this, and is still asking for beta testers as well as public servers to help with electrum. If you would like to help, please see this thread here https://litecointalk.org/index.php?topic=18608.0. LTC on BloombergCoblee has started an initiative to get Litecoin prices listed on Bloomberg feeds, much like how Bitcoin is already displayed. Roscoe, who is also another member of the Litecoin Association, has taken the lead on this project and is asking for help getting Litecoin displayed on Bloomberg. If you use or know someone who uses a Bloomberg Professional Terminal, please send a message to their online support desk asking for Litecoin price quotes and news to be added. Please show your support in helping him if you can, see https://litecointalk.org/index.php?topic=19258.0 for more details. Translators needed If you speak more than one language, your skills are in need for the Bitcoin/Litecoin development teams. Please see https://litecointalk.org/index.php?topic=19050.0 for more details. Help with LA pages The Litecoin Association (http://litecoinassociation.org/) needs help in the form of ideas and volunteers to help “spruce up” the LA website. We need ideas for improvements, sections, content, and anything else you think is good to list. You don’t have to be a member of the LA in order to help out, anyone can help! Crazik is the administrator for the website as well as on the LA board of directors. Please contact him if you want to help out (and we need some help with this too, I promised him I would get a few folks hehe). Merchant basketTheMage (Yes me), started a project in order to create merchant baskets for folks to print out and take with them in order to get more merchants on board to accept LTC and crypto’s in general. This will be the next large project to be completed after the Litecoin video project. See https://litecointalk.org/index.php?topic=20157.0 for more details. SEE LITECOIN.COM WEBSITE ACTIVITY BELOW! Website and Client Documentation Dev We have a new intern working with Warren to help out with Litecoin.org as well as end user documentation, seikochan. Her goals for taking the position are * Improving the Litecoin website to be a more inclusive, collaborative project where the community helps by contributing improvements and expanding the content to be more informative. * Improving the documentation for both Bitcoin and Litecoin client software to make it easier for everyone to understand the best practices in protecting themselves against theft and accidental losses that usually are the result of user error. She can use your help with helping create this documentation for both the Litecoin and Bitcoin clients. In addition, she could also use your assistance in the form of translators. Please see https://litecointalk.org/index.php?topic=17395.0 for more details. LA meetings and Community Projects Litecoin Association meetings are on IRC every other Sunday and are a completely open forum (anyone can attend). The LA board members and Ambassadors conduct the meeting and go over important information with the community and where we need help from the community. After the board speaks, the floor opens for any topics not discussed. We implore everyone to attend! Here is the sticky for information on which channel to join, time zones for clarification, and past meeting notes https://litecointalk.org/index.php?topic=19434.0. The Community Projects section is where we create new initiatives for folks as well as try to coordinate marketing campaigns to get companies on board to accept LTC (the merchant basket and Litecoin video as well as previous charities were started in this section). Here is the link to the main boar https://litecointalk.org/index.php?board=89.0. Final Thoughts I hope to continue to keep the reddit community abreast of activities that the Community, Litecoin Association, and Developers are working on in order to bring more information to the masses. I understand in the past that this information may not have been flowed properly, but I am looking to change that. I want everyone here to know that Litecointalk.org and reddit are one big community, and we need to work together to continue to keep Litecoin as a top tier currency in the crypto world! But we need YOUR help with this, the communities help. So what ever little bit you can do, PLEASE help us make this better! Thank you :) EDIT Litecoin.com Website Coblee recently asked the community what to do with the domain name Litecoin.com. We are looking for open ideas from everyone. https://litecointalk.org/index.php?topic=20168.0 In addition, treasure_finder, has offered a 20 LTC bounty for Litecoin.com development. See here for details https://litecointalk.org/index.php?topic=20204.0 I don't have the technical know how to make this happen but I know it is important for the future of our coin. Therefore, I'm offering a 20 LTCbounty to the person or persons who are able to make this site a reality. Even if you're not sure what the final site should look like, start thedesign, make the work-in-progress and let us all provide feedback and work on it together to make it a reality. I don't care if LTC reaches$100 between now and then, I will send you 20 LTC when the site is launched.I invite any other members to add to this bounty, to get ourselves a top quality site that will reinforce LTC as the true silver crypto coin. Coblee has now donated 100 LTC to this activity, which puts the bounty up to 120 LTC. I am rolling the merchant basket activity into this as well. Stay tuned for details on how this will be distributed.
Bitcoin Core 0.10.0 released | Wladimir | Feb 16 2015
Wladimir on Feb 16 2015: Bitcoin Core version 0.10.0 is now available from: https://bitcoin.org/bin/0.10.0/ This is a new major version release, bringing both new features and bug fixes. Please report bugs using the issue tracker at github: https://github.com/bitcoin/bitcoin/issues The whole distribution is also available as torrent: https://bitcoin.org/bin/0.10.0/bitcoin-0.10.0.torrent magnet:?xt=urn:btih:170c61fe09dafecfbb97cb4dccd32173383f4e68&dn;=0.10.0&tr;=udp%3A%2F%2Ftracker.openbittorrent.com%3A80%2Fannounce&tr;=udp%3A%2F%2Ftracker.publicbt.com%3A80%2Fannounce&tr;=udp%3A%2F%2Ftracker.ccc.de%3A80%2Fannounce&tr;=udp%3A%2F%2Ftracker.coppersurfer.tk%3A6969&tr;=udp%3A%2F%2Fopen.demonii.com%3A1337&ws;=https%3A%2F%2Fbitcoin.org%2Fbin%2F Upgrading and downgrading How to Upgrade If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer (on Windows) or just copy over /Applications/Bitcoin-Qt (on Mac) or bitcoind/bitcoin-qt (on Linux). Downgrading warning Because release 0.10.0 makes use of headers-first synchronization and parallel block download (see further), the block files and databases are not backwards-compatible with older versions of Bitcoin Core or other software:
Blocks will be stored on disk out of order (in the order they are
received, really), which makes it incompatible with some tools or other programs. Reindexing using earlier versions will also not work anymore as a result of this.
The block index database will now hold headers for which no block is
stored on disk, which earlier versions won't support. If you want to be able to downgrade smoothly, make a backup of your entire data directory. Without this your node will need start syncing (or importing from bootstrap.dat) anew afterwards. It is possible that the data from a completely synchronised 0.10 node may be usable in older versions as-is, but this is not supported and may break as soon as the older version attempts to reindex. This does not affect wallet forward or backward compatibility. Notable changes Faster synchronization Bitcoin Core now uses 'headers-first synchronization'. This means that we first ask peers for block headers (a total of 27 megabytes, as of December 2014) and validate those. In a second stage, when the headers have been discovered, we download the blocks. However, as we already know about the whole chain in advance, the blocks can be downloaded in parallel from all available peers. In practice, this means a much faster and more robust synchronization. On recent hardware with a decent network link, it can be as little as 3 hours for an initial full synchronization. You may notice a slower progress in the very first few minutes, when headers are still being fetched and verified, but it should gain speed afterwards. A few RPCs were added/updated as a result of this:
getblockchaininfo now returns the number of validated headers in addition to
the number of validated blocks.
getpeerinfo lists both the number of blocks and headers we know we have in
common with each peer. While synchronizing, the heights of the blocks that we have requested from peers (but haven't received yet) are also listed as 'inflight'.
A new RPC getchaintips lists all known branches of the block chain,
including those we only have headers for. Transaction fee changes This release automatically estimates how high a transaction fee (or how high a priority) transactions require to be confirmed quickly. The default settings will create transactions that confirm quickly; see the new 'txconfirmtarget' setting to control the tradeoff between fees and confirmation times. Fees are added by default unless the 'sendfreetransactions' setting is enabled. Prior releases used hard-coded fees (and priorities), and would sometimes create transactions that took a very long time to confirm. Statistics used to estimate fees and priorities are saved in the data directory in the fee_estimates.dat file just before program shutdown, and are read in at startup. New command line options for transaction fee changes:
-txconfirmtarget=n : create transactions that have enough fees (or priority)
so they are likely to begin confirmation within n blocks (default: 1). This setting is over-ridden by the -paytxfee option.
-sendfreetransactions : Send transactions as zero-fee transactions if possible
(default: 0) New RPC commands for fee estimation:
estimatefee nblocks : Returns approximate fee-per-1,000-bytes needed for
a transaction to begin confirmation within nblocks. Returns -1 if not enough transactions have been observed to compute a good estimate.
estimatepriority nblocks : Returns approximate priority needed for
a zero-fee transaction to begin confirmation within nblocks. Returns -1 if not enough free transactions have been observed to compute a good estimate. RPC access control changes Subnet matching for the purpose of access control is now done by matching the binary network address, instead of with string wildcard matching. For the user this means that -rpcallowip takes a subnet specification, which can be
a single IP address (e.g. 18.104.22.168 or fe80::0012:3456:789a:bcde)
a network/CIDR (e.g. 22.214.171.124/24 or fe80::0000/64)
a network/netmask (e.g. 126.96.36.199/255.255.255.0 or fe80::0012:3456:789a:bcde/ffff:ffff:ffff:ffff:ffff:ffff:ffff:ffff)
An arbitrary number of -rpcallow arguments can be given. An incoming connection will be accepted if its origin address matches one of them. For example: | 0.9.x and before | 0.10.x | |--------------------------------------------|---------------------------------------| | -rpcallowip=192.168.1.1 | -rpcallowip=192.168.1.1 (unchanged) | | -rpcallowip=192.168.1.* | -rpcallowip=192.168.1.0/24 | | -rpcallowip=192.168.* | -rpcallowip=192.168.0.0/16 | | -rpcallowip=* (dangerous!) | -rpcallowip=::/0 (still dangerous!) | Using wildcards will result in the rule being rejected with the following error in debug.log:
Error: Invalid -rpcallowip subnet specification: *. Valid are a single IP (e.g. 188.8.131.52), a network/netmask (e.g. 184.108.40.206/255.255.255.0) or a network/CIDR (e.g. 220.127.116.11/24).
REST interface A new HTTP API is exposed when running with the -rest flag, which allows unauthenticated access to public node data. It is served on the same port as RPC, but does not need a password, and uses plain HTTP instead of JSON-RPC. Assuming a local RPC server running on port 8332, it is possible to request:
In every case, EXT can be bin (for raw binary data), hex (for hex-encoded binary) or json. For more details, see the doc/REST-interface.md document in the repository. RPC Server "Warm-Up" Mode The RPC server is started earlier now, before most of the expensive intialisations like loading the block index. It is available now almost immediately after starting the process. However, until all initialisations are done, it always returns an immediate error with code -28 to all calls. This new behaviour can be useful for clients to know that a server is already started and will be available soon (for instance, so that they do not have to start it themselves). Improved signing security For 0.10 the security of signing against unusual attacks has been improved by making the signatures constant time and deterministic. This change is a result of switching signing to use libsecp256k1 instead of OpenSSL. Libsecp256k1 is a cryptographic library optimized for the curve Bitcoin uses which was created by Bitcoin Core developer Pieter Wuille. There exist attacks against most ECC implementations where an attacker on shared virtual machine hardware could extract a private key if they could cause a target to sign using the same key hundreds of times. While using shared hosts and reusing keys are inadvisable for other reasons, it's a better practice to avoid the exposure. OpenSSL has code in their source repository for derandomization and reduction in timing leaks that we've eagerly wanted to use for a long time, but this functionality has still not made its way into a released version of OpenSSL. Libsecp256k1 achieves significantly stronger protection: As far as we're aware this is the only deployed implementation of constant time signing for the curve Bitcoin uses and we have reason to believe that libsecp256k1 is better tested and more thoroughly reviewed than the implementation in OpenSSL.  https://eprint.iacr.org/2014/161.pdf Watch-only wallet support The wallet can now track transactions to and from wallets for which you know all addresses (or scripts), even without the private keys. This can be used to track payments without needing the private keys online on a possibly vulnerable system. In addition, it can help for (manual) construction of multisig transactions where you are only one of the signers. One new RPC, importaddress, is added which functions similarly to importprivkey, but instead takes an address or script (in hexadecimal) as argument. After using it, outputs credited to this address or script are considered to be received, and transactions consuming these outputs will be considered to be sent. The following RPCs have optional support for watch-only: getbalance, listreceivedbyaddress, listreceivedbyaccount, listtransactions, listaccounts, listsinceblock, gettransaction. See the RPC documentation for those methods for more information. Compared to using getrawtransaction, this mechanism does not require -txindex, scales better, integrates better with the wallet, and is compatible with future block chain pruning functionality. It does mean that all relevant addresses need to added to the wallet before the payment, though. Consensus library Starting from 0.10.0, the Bitcoin Core distribution includes a consensus library. The purpose of this library is to make the verification functionality that is critical to Bitcoin's consensus available to other applications, e.g. to language bindings such as [python-bitcoinlib](https://pypi.python.org/pypi/python-bitcoinlib) or alternative node implementations. This library is called libbitcoinconsensus.so (or, .dll for Windows). Its interface is defined in the C header [bitcoinconsensus.h](https://github.com/bitcoin/bitcoin/blob/0.10/src/script/bitcoinconsensus.h). In its initial version the API includes two functions:
bitcoinconsensus_verify_script verifies a script. It returns whether the indicated input of the provided serialized transaction
correctly spends the passed scriptPubKey under additional constraints indicated by flags
bitcoinconsensus_version returns the API version, currently at an experimental 0
The functionality is planned to be extended to e.g. UTXO management in upcoming releases, but the interface for existing methods should remain stable. Standard script rules relaxed for P2SH addresses The IsStandard() rules have been almost completely removed for P2SH redemption scripts, allowing applications to make use of any valid script type, such as "n-of-m OR y", hash-locked oracle addresses, etc. While the Bitcoin protocol has always supported these types of script, actually using them on mainnet has been previously inconvenient as standard Bitcoin Core nodes wouldn't relay them to miners, nor would most miners include them in blocks they mined. bitcoin-tx It has been observed that many of the RPC functions offered by bitcoind are "pure functions", and operate independently of the bitcoind wallet. This included many of the RPC "raw transaction" API functions, such as createrawtransaction. bitcoin-tx is a newly introduced command line utility designed to enable easy manipulation of bitcoin transactions. A summary of its operation may be obtained via "bitcoin-tx --help" Transactions may be created or signed in a manner similar to the RPC raw tx API. Transactions may be updated, deleting inputs or outputs, or appending new inputs and outputs. Custom scripts may be easily composed using a simple text notation, borrowed from the bitcoin test suite. This tool may be used for experimenting with new transaction types, signing multi-party transactions, and many other uses. Long term, the goal is to deprecate and remove "pure function" RPC API calls, as those do not require a server round-trip to execute. Other utilities "bitcoin-key" and "bitcoin-script" have been proposed, making key and script operations easily accessible via command line. Mining and relay policy enhancements Bitcoin Core's block templates are now for version 3 blocks only, and any mining software relying on its getblocktemplate must be updated in parallel to use libblkmaker either version 0.4.2 or any version from 0.5.1 onward. If you are solo mining, this will affect you the moment you upgrade Bitcoin Core, which must be done prior to BIP66 achieving its 951/1001 status. If you are mining with the stratum mining protocol: this does not affect you. If you are mining with the getblocktemplate protocol to a pool: this will affect you at the pool operator's discretion, which must be no later than BIP66 achieving its 951/1001 status. The prioritisetransaction RPC method has been added to enable miners to manipulate the priority of transactions on an individual basis. Bitcoin Core now supports BIP 22 long polling, so mining software can be notified immediately of new templates rather than having to poll periodically. Support for BIP 23 block proposals is now available in Bitcoin Core's getblocktemplate method. This enables miners to check the basic validity of their next block before expending work on it, reducing risks of accidental hardforks or mining invalid blocks. Two new options to control mining policy:
-datacarrier=0/1 : Relay and mine "data carrier" (OP_RETURN) transactions
if this is 1.
-datacarriersize=n : Maximum size, in bytes, we consider acceptable for
"data carrier" outputs. The relay policy has changed to more properly implement the desired behavior of not relaying free (or very low fee) transactions unless they have a priority above the AllowFreeThreshold(), in which case they are relayed subject to the rate limiter. BIP 66: strict DER encoding for signatures Bitcoin Core 0.10 implements BIP 66, which introduces block version 3, and a new consensus rule, which prohibits non-DER signatures. Such transactions have been non-standard since Bitcoin v0.8.0 (released in February 2013), but were technically still permitted inside blocks. This change breaks the dependency on OpenSSL's signature parsing, and is required if implementations would want to remove all of OpenSSL from the consensus code. The same miner-voting mechanism as in BIP 34 is used: when 751 out of a sequence of 1001 blocks have version number 3 or higher, the new consensus rule becomes active for those blocks. When 951 out of a sequence of 1001 blocks have version number 3 or higher, it becomes mandatory for all blocks. Backward compatibility with current mining software is NOT provided, thus miners should read the first paragraph of "Mining and relay policy enhancements" above. 0.10.0 Change log Detailed release notes follow. This overview includes changes that affect external behavior, not code moves, refactors or string updates. RPC:
f923c07 Support IPv6 lookup in bitcoin-cli even when IPv6 only bound on localhost
b641c9c Fix addnode "onetry": Connect with OpenNetworkConnection
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