submitted by sidhujag to ethereum [link] [comments]
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
SolutionsSyscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Syscoin + Matic IntegrationMatic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Proving Performance & Cost SavingsOur POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.
Cost SavingsTotal cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Tools, Infrastructure & Documentation
Syscoin BridgeMainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
APITools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
DocumentationSyscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence
Trade-offThe Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
CostEthereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Z-DAGZero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
APISyscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.
DocumentationZ-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana
Trade-offZ-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin SpecsSyscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
WalletsWeb3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
ExplorersMainnet: https://sys1.bcfn.ca (Blockbook)
Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!
Artwork by Desing Team - Bitcore BTX ® 2018submitted by dgcarlosleon to bitcore_btx [link] [comments]
Steam is a digital distribution platform developed by Valve Corporation offering digital rights management1 (DRM), multiplayer gaming and social networking services. Steam provides the user with installation and automatic updating of games on multiple computers, and community features such as friend lists and groups, cloud saving, and in-game voice and chat functionality.
If you purchase a game that uses Steam from another website as a digital download, you'll be given a product key that you use to activate the game on Steam. A Steam key is a unique code that you will use to access the full game2.
Bitcore BTX originally a hybrid fork of Bitcoin, features a proof-of work consensus mechanism and implements all of the BIPs (Bitcoin Improvement Proposals) of the Bitcoin protocol3.
“Bitcore: The most clever Bitcoin fork” -- Jimmy Song, Bitcoin Core Developer
More exchanges are listing Bitcore (BTX) and businesses are adopting it. One of the latest cases of adoption of BTX is in purchasing Steam Games Key from Games4Coins.
Games4Coins is a platform that you can purchase Steam product keys. Buying a game on Games4Coins is really simple. Once you have selected a game, you can quickly and securely pay. Why we say quickly and securely? Because a powerful cryptocurrency, Bitcore (BTX) is accepted as a payment coin at this platform (Figure 1). Moreover, as a crypto, they accept only Bitcore.
Figure 1. Bitcore accepted in Games4Coins
After the transaction is complete, you gain full access to your purchased game key which is 15 letter+number code that would look something like this: 8GMR2-Q20YJ-9PDKL. Once you get that, you go into your steam app on your computer and go to Games > Activate a product on steam. Then it will have a space for you to put your code.
“Bitcore is one Cryptocurrency with a big Future”. Games4Coins Team
There are totally forty seven steam games and you can pay via Bitcore for all games. Moreover the prices are very cheap, between 0.44303596 BTX and 5.41588852 BTX (Figure 2).
Figure 2. Some samples for the steam games and their price
Consequently, Bitcore is one of the best cryptos in the market. It is also one of the fastest cryptos in the market when compared to Bitcoin, Litecoin and many other top 10 cryptos. Given that transaction speeds are a factor in the applicability of crypto in real-world business usage, it then follows that Bitcore’s long-term prospects are quite good, as blockchain technology continues to gain a foothold in business. This kind of integrations could open the doors for other major businesses to adopt BTX as a payment method, further adding to the intrinsic value of this crypto. The future of Bitcore (BTX) looks great.
Author: Chris DEVTeam Bitcore | [[email protected]](mailto:[email protected])
Web: Official | News | Coin Specs | Roadmap | White Paper | Ecosystem | Network Update | Community | FAQ | Blog | TeamWallets: Windows | Win Wallet & Blockchain | Linux | Mac | iOS | Android | Eletrum | Zeltrez | Jaxx LibertyExchanges: Bit Z | Cryptopia | hitBTC | VE Bitcoin | Exrates | Crypto Bridge | QBTC | Coinexchange | Octaex | Bitexlive | Bitibu | Trade Satoshi | PayCML | ExcoincialServices: Livingroom of Satoshi | Kamoney | Cryptonaut | EasyRabBit.net | LuckyGames.io | InstaSwap Block Explorers: InsightAPI | Crypto ID | LiivenetMining Pools: Bitcorepool | Yiimp | Suprnova | Chainworks | Umine | Ant Mine Pool | Coin Miners | BSOD | BTXpool | Minersport | Omegapool | PoolGPUMarket Info: CoinMarketCap | World Coin Index | Cryptocompare Source: Github | Kryptowerk | DgCarlosLeon
https://preview.redd.it/uv18v1yaxhe11.jpg?width=1440&format=pjpg&auto=webp&s=a32ca263d2dbe5510e678f4c3c645d1f7e2f3b59submitted by dgcarlosleon to bitcore_btx [link] [comments]
Cointelegraph Bitcore a lightning fast solution to the scaling debate Read
CCN Bitcore winning scaling race earth shattering speed Read
BTC Echo Muss es immer ein Hardfork sein? Nein! – Bitcore (BTX) legt seit April vor Read
Steemit Bitcore BTX Guide: the 2nd snapshot for BTC HODLers - free BTX | how it works Read
Steemit Making blockchain history: Bitcore (BTX) is currently writing blocks with over 3000 kB of data! Read
BTCmanager.com Why is the Cryptocurrency Community Ignoring Bitcore? Read
Bitcore Bitcoin Core Developer Jimmy Song about Bitcore “the most clever fork” Read
Cryptonaut Bitcore is one of the first known cryptocurrencies to use the hybrid fork method to distribute BTX Read
Soft2share Cryptocurrency was what made an entry into the financial sector to address the concerns raised by the centralized infrastructure. Read
Bitcore Snapshot The premine address is 13hwgY4YUvrgnhjLP5ugFafL1cmbRRtr5ePRE ANN was 23.04.2017Download Snapshot...here (140 MB)Mediafiles and CI Download files here Press kit Basic | Press kit Full
DISCLAIMER | The Bitcore BTX (ANN REDDIT) cannot take responsibility for third party providers, such as the listed exchanges, wallets, sites and pools. All links hosted on our domain are by community members and third parties and by clicking on any of the listed links you are accepting the risks of using the third party domain and taking responsibility for any losses, damage or other issues using said domain. Crypto-currencies are inherently risky and investors and users must remain vigilant.
Web: Official | News | Coin Specs | Roadmap | White Paper | Ecosystem | Network Update | Community | FAQ | Blog | Team Wallets: Windows | Win Wallet & Blockchain | Linux | Mac | iOS | Android | Eletrum | Zeltrez | Jaxx Liberty Exchanges: Bit Z | Cryptopia | hitBTC | VE Bitcoin | Exrates | Crypto Bridge | QBTC | Coinexchange | Octaex | Bitexlive | Bitibu | Trade Satoshi | PayCML Services: Livingroom of Satoshi | Kamoney | Cryptonaut | EasyRabBit.net | LuckyGames.io Block Explorers: InsightAPI | Crypto ID | Liivenet Mining Pools: Bitcorepool | Yiimp | Suprnova | Chainworks | Umine | Ant Mine Pool | Coin Miners | BSOD | BTXpool | Minersport | Omegapool | PoolGPU Market Info: CoinMarketCap | World Coin Index | Cryptocompare Source: Github | Kryptowerk | DgCarlosLeon _____________________________________________________________________________
ANN Designed by DgCarlosLeon | Bitcore BTX - 2018
BitCore is creating a big community across the world, After Europe and Asia, next step is Africa. We aim to be a great part of how Africa trade's going forward.submitted by dgcarlosleon to bitcore_btx [link] [comments]
We have set up the #BitCore $BTX Africa Community. Meet our #African #Community #Manager, Opa. He will help to build a robust BTX Africa community and a bridge between the Africa community and the BTX global community.
Everyone is invited to join the official Africa community group: https://t.me/BitCore_Africa
Web News | Project Timeline | Community | Directory | Developer & Team | Specification New | White Paper | Ecosystem | Network | Videos | Governammce | Innovation | FAQ Market info Coinmarketcap | World Coin Index | Cryptocompare | COIN360 NEW Devs Limxtec Explorers InsightAPI | CryptoID | Livenet | ZelCore Charts TradingView NEW Wallets Mac QT | Windows QT | Win + Block | Electrum Portable | Linux QT | TSBW Coinomi iOS | Android | Win | Mac |Linux ZelCore Mac | Win | Portable | Linux | iOS | Android Jaxx Liberty iOS | Android | Chrome extension | Mac OSX | Win x64/x86 Paytomat iOs | Android Trezor Website Ellipal Website Archos Website Magnum Website | Android NEW Blockchain Financial Website NEW Exchanges BarterDex | BitBase | Bitexlive | Bit-Z | Crex24 | CoinExchange | CryptoChange | Excoincial | Exrates | HitBTC | InstaSwap | Ktrade | Nova | PayCML | QBTC | Reflex Trader | Trade Satoshi | TX.com NEW | Zyrex NEW
Services Kamoney | Cryptonaut | Luckygames.io | Games4coins.com | Paytomat | PayByte | BitBase | AtomicPay | CryptoCrown | OddEvenBets.com NEW | Nomiddleman Crypto NEW
Graphic Identity manual v0.6 NEW
Pools NEWS Blockmaster / US | Phi Phi Pool / Thailand | NL Poll / Netherland | Zerg Pool / EU | A Hash Pool | BSOD / EU, US, Asia | Suprnova / EU, US, Asia | Fairmine EU | Zpool EU, US
Community Telegram Official | Deutsch | Español | Africa NEW | Türkçe | Français | Venezuela | Argentina | Italiano | русский | 电报中文社群 NEW | Philippine | Bahasa | România Twitter Official | Venezuela NEW - Bitcointalk Official | Español - Facebook BitCore BTX Group | BitCore Fanpage Discord | Instagram | Chatoncrypto | Reddit | VK русский | 微博 NEW | 链节点主页 NEW | Medium NEW
In the end, Bitcoin-QT is a bit of a hit-and-miss among novice cryptocurrency users, thus your mileage may vary. 2. Multibit. Multibit has always advertised itself as the go-to wallet for desktop bitcoin users. It takes mere seconds to set up a bitcoin wallet, as everything is done through a Setup Wizard. Desktop wallets have to be installed on your computer, and they allow you to generate a Bitcoin address and store secret keys. Some of the most commonly used desktop wallets are Bitcoin Core, Electrum, Armory and Multibit. Mobile wallets help you complete your transactions when you are not at home and do not have access to your desktop wallet. These wallets use only a part of the blockchain. The first build of the Bitcoin-Qt wallet, 0.1, was believed to have been lost to time until Hal Finney, by then virtually incapacitated with Lou Gehrig’s disease, found the source code in 2012. Unlike other Bitcoin wallet programs, Electrum connects to various servers which run a copy of the Bitcoin Blockchain. This makes it very lightweight as it doesn't have to download its own copy. Bitcoin Core is a community-driven free software project, released under the MIT license. Verify release signatures Download torrent Source code Show version history. Bitcoin Core Release Signing Keys v0.8.6 - 0.9.2.1 v0.9.3 - 0.10.2 v0.11.0+ Or choose your operating system. Windows exe - zip.
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We’ll stop supporting this browser soon. For the best experience please update your browser. How to install Electrum Wallet for Bitcoin (BTC) on a Mac ... 7:42. Dash Core Group Q1 2020 Summary Call - Duration: 1:54:20. Dash - Digital ... QT Wallet Receiving Address = G15E18 ... bitcoin wallet - choose your bitcoin wallet - an in-depth review of bitcoinqt, electrum and multibit. install, backup and restore a bitcoin wallet. with that... Cryptocurrency Group 5,300 ... 36:05. Rohit Sahu Recommended for you. 36:05. Backing up Your bitcoins using the Electrum Bitcoin Wallet ... Syncing your Bitconnect QT wallet NEW updated ... LITECOIN ELECTRUM - INSTALL - In this video I will show you how to download, install, and setup your Litecoin Electrum Wallet, which you can download directly from the official Litecoin website ...