Become A Bitcoin Developer: Basic 101 - Blockgeeks

Ivan on Tech - DOLLAR HYPERINFLATING!! FED CONFESSES - Bitcoin $10,000 Breakout, Trump Hack - Programmer explains

Ivan on Tech - DOLLAR HYPERINFLATING!! FED CONFESSES - Bitcoin $10,000 Breakout, Trump Hack - Programmer explains submitted by Yanlii to cryptovideos [link] [comments]

German Programmer ‘Hacks Back’ After Bitcoin Ransomware Attack

German Programmer ‘Hacks Back’ After Bitcoin Ransomware Attack submitted by Ranzware to BitNewsLive [link] [comments]

German Programmer ‘Hacks Back’ After Bitcoin Ransomware Attack

German Programmer ‘Hacks Back’ After Bitcoin Ransomware Attack submitted by Ranzware to BitNewsLive [link] [comments]

Ivan on Tech - BITCOIN $8 TRILLION MARKET!!! 🛑 Trezor Hacked?! Programmer explains

Ivan on Tech - BITCOIN $8 TRILLION MARKET!!! 🛑 Trezor Hacked?! Programmer explains submitted by Yanlii to cryptovideos [link] [comments]

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward submitted by spacesticks to cryptosobstories [link] [comments]

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward submitted by conniewang to Bitcoin [link] [comments]

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward

A Tencent Programmer Claims to Hack Binance in One Week, and Asks For 1,000 Bitcoins as Reward submitted by raaner12 to AllThingsCrypto [link] [comments]

Litmocracy: The Bitfinex Hack: Bitcoin versus Hubris [Programmers perspective]

Litmocracy: The Bitfinex Hack: Bitcoin versus Hubris [Programmers perspective] submitted by FMTY to Bitcoin [link] [comments]

Why can't programmers just hack bitcoins and make them worthless?

If there is no central authority protecting the value of bitcoin, why wouldn't someone just code a million of them? I know I'm not the only one who is confused.
submitted by jurismydicktion to explainlikeimfive [link] [comments]

Litmocracy: The Bitfinex Hack: Bitcoin versus Hubris [Programmers perspective]

Litmocracy: The Bitfinex Hack: Bitcoin versus Hubris [Programmers perspective] submitted by BitcoinAllBot to BitcoinAll [link] [comments]

The Mandela Effect (Part 4 – The Rationalist Cult Member)

This is a continuation of the Mandela Effect story. For the introduction, click here.
How did you first become aware of the Incident?
Do you believe in coincidences?
Um, what?
There’s a system called Bayesian statistics. It’s a mathematical procedure that applies probabilities to statistical problems. This allows people to update their beliefs in the evidence of new data. For example, if somebody beats the stock market once, we might say they got lucky or it was a fluke occurrence. If somebody beats the stock market five times in a row, we would say that they have got some advantage or technique that works better than everybody else, because the chance of beating the stock market five times in a row by pure chance is pretty slim.
I’m not sure how this relates to the Incident.
That’s because you’re not thinking in terms of Bayesian probabilities. The Incident plays havoc with probability. Things that we might consider the unlikeliest of scenarios – like Trump winning – suddenly start happening all the time. Suddenly the weirdest and most outlandishly random things become normal day-to-day occurrences. Like the number 21, or the colors.
Wait, I sound crazy, don’t I? (Laughs) Sorry, I’ve been told that’s a by-product of spending too much time around the Incident. I’m not crazy, I assure you. It’s just that when you see this kind of… reality distortion, for lack of a better word, it’s a little unsettling. Let me start from the beginning.
We found the subject online, as you undoubtedly heard from (the Silicon Valley Mogul). We listed his predictions out. Understand that at this point, we simply thought he was a newly discovered super forecaster. The purpose of listing his predictions was to quantify accuracy. One of these predictions involved Bitcoin. His prediction was that in approximately five years, Bitcoin would collapse. That sounded strange to me, so I crunched the numbers to see what might possibly happen in five years. It turns out that five years from his predicted date is when the last Bitcoin was expected to be mined. You see, Bitcoin was designed to have a finite limit, with each bitcoin being harder to mine than the Bitcoin before it. This limit was intended to artificially inflate the currency, giving a “first mover” advantage to the people who bought into Bitcoin first. In investment terms, the incentives of Bitcoin seem designed to trigger an early adopter gold rush. So apparently our anonymous super forecaster figures that once the last bitcoin is mined, nobody outside of the bitcoin owners will have any incentive to accept the currency, and the speculative bubble will pop, similar to the Dutch tulip mania of 1637. That didn’t strike me as particularly unusual, until we found out about the subject’s odd preference for the number 21 – their calling card, if you will. Do you know what the maximum number of bitcoins is? 21 million. It led me to wonder if perhaps the subject had some involvement in the creation of bitcoin, since he majored in computer science in college and had some background as a former programmer. Could he have indirectly influenced the creator of Bitcoin? It turns out that there’s no way to be sure, since the creator of Bitcoin is completely anonymous and untraceable.
Once I noticed that, other coincidences started to pop up, all involving the number 21 in some way. For example, the subject had predicted early in the Democratic primaries - in his usual shifty unprovable way involving typing and deletion - that Biden would be President Trump’s most dangerous foe. Subsequent to this prediction, Trump made the historic phone call to the Ukraine that led to his impeachment. You know that the first day of Trump’s impeachment trial was January 21st – isn’t that an interesting coincidence? And wasn’t Trump’s first phone call to the Ukraine also on the 21st? These coincidences started to add up in eerily improbable ways, and I found myself a bit reminded of the story of Macbeth.
There’s more. Supposedly, the subject spent a lot of time on a Reddit forum known as dramawhich was also started on the 21st. I started to wonder if the subject had not just predicted these events, but was also somehow causing them. If so, it would have taken unparalleled planning ability to be able to coordinate these events so far ahead of time.
Then the color thing happened, and my whole perspective changed. One singer seemed to be trying particularly hard to get the attention of the subject by creating music videos with the colors that he had specified. The subject said “Why try so hard to signal to me in the present? Just look into your past, and you’ll already see your own future staring right back out at you.” I looked at her music videos, and I realized that a lot of the previous music videos she had made already used the colors that the subject referenced, even though they were dated from before the subject had ever mentioned the colors. It was as if on some subconscious level, this singer had known about the colors retroactively. Once I realized this, I started to examine the subject’s behavior more closely, looking at past events as well as the future. He liked to visit a nearby cemetary a lot, and while there, our cameras caught him reciting a “spell” in front of a tombstone made of rose quartz. It turns out that there were a lot of those rose quartz tombstones in that cemetary – a suspiciously high amount. Upon further research, it turns out that the reason for these rose quartz graves was because of a hurricane that had ripped through New England in 1938 – on September 21st. That was when my worst suspicions were confirmed. Somehow, the incident was affecting time. Had the gravestones always been rose quartz? Or did the spell make the hurricane happen 80 years ago, and so our memories were changed to fit with the new timeline? Ask yourself this – if somebody sent a single photon back in time and created a butterfly effect that altered history, how would you know?
But surely if time was being altered, somebody would have noticed it, right? Well, it turns out that there’s actually quite a lot of people who say that they’ve noticed alterations to the timeline – it’s just that the rest of us don’t believe them. We laugh at them and call them crazy. Hell, a few years I was one of the people laughing at people like that. Well, who’s laughing now? (Laughs hysterically)
What is your interpretation of the Incident?
At one point, the subject seemed frustrated by our attention. “This has all happened before, and you idiots react exactly the same way each time,” he said. What if that’s accurate? History contains countless stories of witches and wizards. Today we laugh at our ancestors for believing in silly stories about magic and faeries, but rationalists and Silicon Valley executives talk quite seriously about the possibility that we are living in a simulation, and that one might be able to partially hack the “user permissions” of reality itself. What if it’s the same thing?
Imagine that you’re some sort of extradimensional being with the ability to hack this “reality matrix” in a few unique ways. According to the subtext of the Spellbook – which we have been studying very carefully - these things don’t have bodies: instead, they manifest their consciousness to a limited extent in gifted people’s psyches. That sounds a lot like reincarnation to me. How long could such a creature live? Maybe a short time. Maybe forever. We know these things like to keep a low profile, but they aren’t perfect at it. We discovered this one by accident, and in response, it rapidly created a religious cult to defend itself and started distorting reality to advance its goals. Surely this could have happened before. Why are we so certain that this is a new phenomenon? Maybe a lot of the other “secret societies” and “magical orders” that existed throughout history started in exactly the same way. Somebody noticed one of these creatures doing something inexplicable, they reacted to defend themselves, and next thing you know we have a secret cult of influential people all learning magic from their new extradimensional mentor. In other words, exactly like what is starting to happen now. It’s like this thing didn’t even bother to change its MO. (Laughs wildly.) And hey, why would it? Some things are so well optimized that they hardly ever need to change. They go through existence unchanged by evolution because they are already perfectly evolved.
What part of the Incident would you categorize as paranormal or outside the bounds of understanding?
Haven’t you been listening? Pretty much everything about the incident defies explanation. We have prophecies coming true, clairvoyance, strange psychic dreams, vast conspiracies, strange transhuman cults, and fringe science. I know what you’re thinking: I was in this from the start, so supposedly I was one of the people most heavily impacted by the mental effect of the Incident. But the truth is that the only thing I was impacted by is the understanding that our entire understanding of reality is a lie. Who wouldn’t be impacted by that?
submitted by SocratesScissors to scarystories [link] [comments]

Scaling Reddit Community Points with Arbitrum Rollup: a piece of cake

Scaling Reddit Community Points with Arbitrum Rollup: a piece of cake
https://preview.redd.it/b80c05tnb9e51.jpg?width=2550&format=pjpg&auto=webp&s=850282c1a3962466ed44f73886dae1c8872d0f31
Submitted for consideration to The Great Reddit Scaling Bake-Off
Baked by the pastry chefs at Offchain Labs
Please send questions or comments to [[email protected] ](mailto:[email protected])
1. Overview
We're excited to submit Arbitrum Rollup for consideration to The Great Reddit Scaling Bake-Off. Arbitrum Rollup is the only Ethereum scaling solution that supports arbitrary smart contracts without compromising on Ethereum's security or adding points of centralization. For Reddit, this means that Arbitrum can not only scale the minting and transfer of Community Points, but it can foster a creative ecosystem built around Reddit Community Points enabling points to be used in a wide variety of third party applications. That's right -- you can have your cake and eat it too!
Arbitrum Rollup isn't just Ethereum-style. Its Layer 2 transactions are byte-for-byte identical to Ethereum, which means Ethereum users can continue to use their existing addresses and wallets, and Ethereum developers can continue to use their favorite toolchains and development environments out-of-the-box with Arbitrum. Coupling Arbitrum’s tooling-compatibility with its trustless asset interoperability, Reddit not only can scale but can onboard the entire Ethereum community at no cost by giving them the same experience they already know and love (well, certainly know).
To benchmark how Arbitrum can scale Reddit Community Points, we launched the Reddit contracts on an Arbitrum Rollup chain. Since Arbitrum provides full Solidity support, we didn't have to rewrite the Reddit contracts or try to mimic their functionality using an unfamiliar paradigm. Nope, none of that. We launched the Reddit contracts unmodified on Arbitrum Rollup complete with support for minting and distributing points. Like every Arbitrum Rollup chain, the chain included a bridge interface in which users can transfer Community Points or any other asset between the L1 and L2 chains. Arbitrum Rollup chains also support dynamic contract loading, which would allow third-party developers to launch custom ecosystem apps that integrate with Community Points on the very same chain that runs the Reddit contracts.
1.1 Why Ethereum
Perhaps the most exciting benefit of distributing Community Points using a blockchain is the ability to seamlessly port points to other applications and use them in a wide variety of contexts. Applications may include simple transfers such as a restaurant that allows Redditors to spend points on drinks. Or it may include complex smart contracts -- such as placing Community Points as a wager for a multiparty game or as collateral in a financial contract.
The common denominator between all of the fun uses of Reddit points is that it needs a thriving ecosystem of both users and developers, and the Ethereum blockchain is perhaps the only smart contract platform with significant adoption today. While many Layer 1 blockchains boast lower cost or higher throughput than the Ethereum blockchain, more often than not, these attributes mask the reality of little usage, weaker security, or both.
Perhaps another platform with significant usage will rise in the future. But today, Ethereum captures the mindshare of the blockchain community, and for Community Points to provide the most utility, the Ethereum blockchain is the natural choice.
1.2 Why Arbitrum
While Ethereum's ecosystem is unmatched, the reality is that fees are high and capacity is too low to support the scale of Reddit Community Points. Enter Arbitrum. Arbitrum Rollup provides all of the ecosystem benefits of Ethereum, but with orders of magnitude more capacity and at a fraction of the cost of native Ethereum smart contracts. And most of all, we don't change the experience from users. They continue to use the same wallets, addresses, languages, and tools.
Arbitrum Rollup is not the only solution that can scale payments, but it is the only developed solution that can scale both payments and arbitrary smart contracts trustlessly, which means that third party users can build highly scalable add-on apps that can be used without withdrawing money from the Rollup chain. If you believe that Reddit users will want to use their Community Points in smart contracts--and we believe they will--then it makes the most sense to choose a single scaling solution that can support the entire ecosystem, eliminating friction for users.
We view being able to run smart contracts in the same scaling solution as fundamentally critical since if there's significant demand in running smart contracts from Reddit's ecosystem, this would be a load on Ethereum and would itself require a scaling solution. Moreover, having different scaling solutions for the minting/distribution/spending of points and for third party apps would be burdensome for users as they'd have to constantly shuffle their Points back and forth.
2. Arbitrum at a glance
Arbitrum Rollup has a unique value proposition as it offers a combination of features that no other scaling solution achieves. Here we highlight its core attributes.
Decentralized. Arbitrum Rollup is as decentralized as Ethereum. Unlike some other Layer 2 scaling projects, Arbitrum Rollup doesn't have any centralized components or centralized operators who can censor users or delay transactions. Even in non-custodial systems, centralized components provide a risk as the operators are generally incentivized to increase their profit by extracting rent from users often in ways that severely degrade user experience. Even if centralized operators are altruistic, centralized components are subject to hacking, coercion, and potential liability.
Massive Scaling. Arbitrum achieves order of magnitude scaling over Ethereum's L1 smart contracts. Our software currently supports 453 transactions-per-second for basic transactions (at 1616 Ethereum gas per tx). We have a lot of room left to optimize (e.g. aggregating signatures), and over the next several months capacity will increase significantly. As described in detail below, Arbitrum can easily support and surpass Reddit's anticipated initial load, and its capacity will continue to improve as Reddit's capacity needs grow.
Low cost. The cost of running Arbitrum Rollup is quite low compared to L1 Ethereum and other scaling solutions such as those based on zero-knowledge proofs. Layer 2 fees are low, fixed, and predictable and should not be overly burdensome for Reddit to cover. Nobody needs to use special equipment or high-end machines. Arbitrum requires validators, which is a permissionless role that can be run on any reasonable on-line machine. Although anybody can act as a validator, in order to protect against a “tragedy of the commons” and make sure reputable validators are participating, we support a notion of “invited validators” that are compensated for their costs. In general, users pay (low) fees to cover the invited validators’ costs, but we imagine that Reddit may cover this cost for its users. See more on the costs and validator options below.
Ethereum Developer Experience. Not only does Arbitrum support EVM smart contracts, but the developer experience is identical to that of L1 Ethereum contracts and fully compatible with Ethereum tooling. Developers can port existing Solidity apps or write new ones using their favorite and familiar toolchains (e.g. Truffle, Buidler). There are no new languages or coding paradigms to learn.
Ethereum wallet compatibility. Just as in Ethereum, Arbitrum users need only hold keys, but do not have to store any coin history or additional data to protect or access their funds. Since Arbitrum transactions are semantically identical to Ethereum L1 transactions, existing Ethereum users can use their existing Ethereum keys with their existing wallet software such as Metamask.
Token interoperability. Users can easily transfer their ETH, ERC-20 and ERC-721 tokens between Ethereum and the Arbitrum Rollup chain. As we explain in detail below, it is possible to mint tokens in L2 that can subsequently be withdrawn and recognized by the L1 token contract.
Fast finality. Transactions complete with the same finality time as Ethereum L1 (and it's possible to get faster finality guarantees by trading away trust assumptions; see the Arbitrum Rollup whitepaper for details).
Non-custodial. Arbitrum Rollup is a non-custodial scaling solution, so users control their funds/points and neither Reddit nor anyone else can ever access or revoke points held by users.
Censorship Resistant. Since it's completely decentralized, and the Arbitrum protocol guarantees progress trustlessly, Arbitrum Rollup is just as censorship-proof as Ethereum.
Block explorer. The Arbitrum Rollup block explorer allows users to view and analyze transactions on the Rollup chain.
Limitations
Although this is a bake-off, we're not going to sugar coat anything. Arbitrum Rollup, like any Optimistic Rollup protocol, does have one limitation, and that's the delay on withdrawals.
As for the concrete length of the delay, we've done a good deal of internal modeling and have blogged about this as well. Our current modeling suggests a 3-hour delay is sufficient (but as discussed in the linked post there is a tradeoff space between the length of the challenge period and the size of the validators’ deposit).
Note that this doesn't mean that the chain is delayed for three hours. Arbitrum Rollup supports pipelining of execution, which means that validators can keep building new states even while previous ones are “in the pipeline” for confirmation. As the challenge delays expire for each update, a new state will be confirmed (read more about this here).
So activity and progress on the chain are not delayed by the challenge period. The only thing that's delayed is the consummation of withdrawals. Recall though that any single honest validator knows immediately (at the speed of L1 finality) which state updates are correct and can guarantee that they will eventually be confirmed, so once a valid withdrawal has been requested on-chain, every honest party knows that the withdrawal will definitely happen. There's a natural place here for a liquidity market in which a validator (or someone who trusts a validator) can provide withdrawal loans for a small interest fee. This is a no-risk business for them as they know which withdrawals will be confirmed (and can force their confirmation trustlessly no matter what anyone else does) but are just waiting for on-chain finality.
3. The recipe: How Arbitrum Rollup works
For a description of the technical components of Arbitrum Rollup and how they interact to create a highly scalable protocol with a developer experience that is identical to Ethereum, please refer to the following documents:
Arbitrum Rollup Whitepaper
Arbitrum academic paper (describes a previous version of Arbitrum)
4. Developer docs and APIs
For full details about how to set up and interact with an Arbitrum Rollup chain or validator, please refer to our developer docs, which can be found at https://developer.offchainlabs.com/.
Note that the Arbitrum version described on that site is older and will soon be replaced by the version we are entering in Reddit Bake-Off, which is still undergoing internal testing before public release.
5. Who are the validators?
As with any Layer 2 protocol, advancing the protocol correctly requires at least one validator (sometimes called block producers) that is honest and available. A natural question is: who are the validators?
Recall that the validator set for an Arbitrum chain is open and permissionless; anyone can start or stop validating at will. (A useful analogy is to full nodes on an L1 chain.) But we understand that even though anyone can participate, Reddit may want to guarantee that highly reputable nodes are validating their chain. Reddit may choose to validate the chain themselves and/or hire third-party validators.To this end, we have begun building a marketplace for validator-for-hire services so that dapp developers can outsource validation services to reputable nodes with high up-time. We've announced a partnership in which Chainlink nodes will provide Arbitrum validation services, and we expect to announce more partnerships shortly with other blockchain infrastructure providers.
Although there is no requirement that validators are paid, Arbitrum’s economic model tracks validators’ costs (e.g. amount of computation and storage) and can charge small fees on user transactions, using a gas-type system, to cover those costs. Alternatively, a single party such as Reddit can agree to cover the costs of invited validators.
6. Reddit Contract Support
Since Arbitrum contracts and transactions are byte-for-byte compatible with Ethereum, supporting the Reddit contracts is as simple as launching them on an Arbitrum chain.
Minting. Arbitrum Rollup supports hybrid L1/L2 tokens which can be minted in L2 and then withdrawn onto the L1. An L1 contract at address A can make a special call to the EthBridge which deploys a "buddy contract" to the same address A on an Arbitrum chain. Since it's deployed at the same address, users can know that the L2 contract is the authorized "buddy" of the L1 contract on the Arbitrum chain.
For minting, the L1 contract is a standard ERC-20 contract which mints and burns tokens when requested by the L2 contract. It is paired with an ERC-20 contract in L2 which mints tokens based on whatever programmer provided minting facility is desired and burns tokens when they are withdrawn from the rollup chain. Given this base infrastructure, Arbitrum can support any smart contract based method for minting tokens in L2, and indeed we directly support Reddit's signature/claim based minting in L2.
Batch minting. What's better than a mint cookie? A whole batch! In addition to supporting Reddit’s current minting/claiming scheme, we built a second minting design, which we believe outperforms the signature/claim system in many scenarios.
In the current system, Reddit periodically issues signed statements to users, who then take those statements to the blockchain to claim their tokens. An alternative approach would have Reddit directly submit the list of users/amounts to the blockchain and distribute the tokens to the users without the signature/claim process.
To optimize the cost efficiency of this approach, we designed an application-specific compression scheme to minimize the size of the batch distribution list. We analyzed the data from Reddit's previous distributions and found that the data is highly compressible since token amounts are small and repeated, and addresses appear multiple times. Our function groups transactions by size, and replaces previously-seen addresses with a shorter index value. We wrote client code to compress the data, wrote a Solidity decompressing function, and integrated that function into Reddit’s contract running on Arbitrum.
When we ran the compression function on the previous Reddit distribution data, we found that we could compress batched minting data down to to 11.8 bytes per minting event (averaged over a 6-month trace of Reddit’s historical token grants)compared with roughly 174 bytes of on-chain data needed for the signature claim approach to minting (roughly 43 for an RLP-encoded null transaction + 65 for Reddit's signature + 65 for the user's signature + roughly 8 for the number of Points) .
The relative benefit of the two approaches with respect to on-chain call data cost depends on the percentage of users that will actually claim their tokens on chain. With the above figures, batch minting will be cheaper if roughly 5% of users redeem their claims. We stress that our compression scheme is not Arbitrum-specific and would be beneficial in any general-purpose smart contract platform.
8. Benchmarks and costs
In this section, we give the full costs of operating the Reddit contracts on an Arbitrum Rollup chain including the L1 gas costs for the Rollup chain, the costs of computation and storage for the L2 validators as well as the capital lockup requirements for staking.
Arbitrum Rollup is still on testnet, so we did not run mainnet benchmarks. Instead, we measured the L1 gas cost and L2 workload for Reddit operations on Arbitrum and calculated the total cost assuming current Ethereum gas prices. As noted below in detail, our measurements do not assume that Arbitrum is consuming the entire capacity of Ethereum. We will present the details of our model now, but for full transparency you can also play around with it yourself and adjust the parameters, by copying the spreadsheet found here.
Our cost model is based on measurements of Reddit’s contracts, running unmodified (except for the addition of a batch minting function) on Arbitrum Rollup on top of Ethereum.
On the distribution of transactions and frequency of assertions. Reddit's instructions specify the following minimum parameters that submissions should support:
Over a 5 day period, your scaling PoC should be able to handle:
  • 100,000 point claims (minting & distributing points)
  • 25,000 subscriptions
  • 75,000 one-off points burning
  • 100,000 transfers
We provide the full costs of operating an Arbitrum Rollup chain with this usage under the assumption that tokens are minted or granted to users in batches, but other transactions are uniformly distributed over the 5 day period. Unlike some other submissions, we do not make unrealistic assumptions that all operations can be submitted in enormous batches. We assume that batch minting is done in batches that use only a few percent on an L1 block’s gas, and that other operations come in evenly over time and are submitted in batches, with one batch every five minutes to keep latency reasonable. (Users are probably already waiting for L1 finality, which takes at least that long to achieve.)
We note that assuming that there are only 300,000 transactions that arrive uniformly over the 5 day period will make our benchmark numbers lower, but we believe that this will reflect the true cost of running the system. To see why, say that batches are submitted every five minutes (20 L1 blocks) and there's a fixed overhead of c bytes of calldata per batch, the cost of which will get amortized over all transactions executed in that batch. Assume that each individual transaction adds a marginal cost of t. Lastly assume the capacity of the scaling system is high enough that it can support all of Reddit's 300,000 transactions within a single 20-block batch (i.e. that there is more than c + 300,000*t byes of calldata available in 20 blocks).
Consider what happens if c, the per-batch overhead, is large (which it is in some systems, but not in Arbitrum). In the scenario that transactions actually arrive at the system's capacity and each batch is full, then c gets amortized over 300,000 transactions. But if we assume that the system is not running at capacity--and only receives 300,000 transactions arriving uniformly over 5 days-- then each 20-block assertion will contain about 200 transactions, and thus each transaction will pay a nontrivial cost due to c.
We are aware that other proposals presented scaling numbers assuming that 300,000 transactions arrived at maximum capacity and was executed in a single mega-transaction, but according to our estimates, for at least one such report, this led to a reported gas price that was 2-3 orders of magnitude lower than it would have been assuming uniform arrival. We make more realistic batching assumptions, and we believe Arbitrum compares well when batch sizes are realistic.
Our model. Our cost model includes several sources of cost:
  • L1 gas costs: This is the cost of posting transactions as calldata on the L1 chain, as well as the overhead associated with each batch of transactions, and the L1 cost of settling transactions in the Arbitrum protocol.
  • Validator’s staking costs: In normal operation, one validator will need to be staked. The stake is assumed to be 0.2% of the total value of the chain (which is assumed to be $1 per user who is eligible to claim points). The cost of staking is the interest that could be earned on the money if it were not staked.
  • Validator computation and storage: Every validator must do computation to track the chain’s processing of transactions, and must maintain storage to keep track of the contracts’ EVM storage. The cost of computation and storage are estimated based on measurements, with the dollar cost of resources based on Amazon Web Services pricing.
It’s clear from our modeling that the predominant cost is for L1 calldata. This will probably be true for any plausible rollup-based system.
Our model also shows that Arbitrum can scale to workloads much larger than Reddit’s nominal workload, without exhausting L1 or L2 resources. The scaling bottleneck will ultimately be calldata on the L1 chain. We believe that cost could be reduced substantially if necessary by clever encoding of data. (In our design any compression / decompression of L2 transaction calldata would be done by client software and L2 programs, never by an L1 contract.)
9. Status of Arbitrum Rollup
Arbitrum Rollup is live on Ethereum testnet. All of the code written to date including everything included in the Reddit demo is open source and permissively licensed under the Apache V2 license. The first testnet version of Arbitrum Rollup was released on testnet in February. Our current internal version, which we used to benchmark the Reddit contracts, will be released soon and will be a major upgrade.
Both the Arbitrum design as well as the implementation are heavily audited by independent third parties. The Arbitrum academic paper was published at USENIX Security, a top-tier peer-reviewed academic venue. For the Arbitrum software, we have engaged Trail of Bits for a security audit, which is currently ongoing, and we are committed to have a clean report before launching on Ethereum mainnet.
10. Reddit Universe Arbitrum Rollup Chain
The benchmarks described in this document were all measured using the latest internal build of our software. When we release the new software upgrade publicly we will launch a Reddit Universe Arbitrum Rollup chain as a public demo, which will contain the Reddit contracts as well as a Uniswap instance and a Connext Hub, demonstrating how Community Points can be integrated into third party apps. We will also allow members of the public to dynamically launch ecosystem contracts. We at Offchain Labs will cover the validating costs for the Reddit Universe public demo.
If the folks at Reddit would like to evaluate our software prior to our public demo, please email us at [email protected] and we'd be more than happy to provide early access.
11. Even more scaling: Arbitrum Sidechains
Rollups are an excellent approach to scaling, and we are excited about Arbitrum Rollup which far surpasses Reddit's scaling needs. But looking forward to Reddit's eventual goal of supporting hundreds of millions of users, there will likely come a time when Reddit needs more scaling than any Rollup protocol can provide.
While Rollups greatly reduce costs, they don't break the linear barrier. That is, all transactions have an on-chain footprint (because all calldata must be posted on-chain), albeit a far smaller one than on native Ethereum, and the L1 limitations end up being the bottleneck for capacity and cost. Since Ethereum has limited capacity, this linear use of on-chain resources means that costs will eventually increase superlinearly with traffic.
The good news is that we at Offchain Labs have a solution in our roadmap that can satisfy this extreme-scaling setting as well: Arbitrum AnyTrust Sidechains. Arbitrum Sidechains are similar to Arbitrum Rollup, but deviate in that they name a permissioned set of validators. When a chain’s validators agree off-chain, they can greatly reduce the on-chain footprint of the protocol and require almost no data to be put on-chain. When validators can't reach unanimous agreement off-chain, the protocol reverts to Arbitrum Rollup. Technically, Arbitrum Sidechains can be viewed as a hybrid between state channels and Rollup, switching back and forth as necessary, and combining the performance and cost that state channels can achieve in the optimistic case, with the robustness of Rollup in other cases. The core technical challenge is how to switch seamlessly between modes and how to guarantee that security is maintained throughout.
Arbitrum Sidechains break through this linear barrier, while still maintaining a high level of security and decentralization. Arbitrum Sidechains provide the AnyTrust guarantee, which says that as long as any one validator is honest and available (even if you don't know which one will be), the L2 chain is guaranteed to execute correctly according to its code and guaranteed to make progress. Unlike in a state channel, offchain progress does not require unanimous consent, and liveness is preserved as long as there is a single honest validator.
Note that the trust model for Arbitrum Sidechains is much stronger than for typical BFT-style chains which introduce a consensus "voting" protocols among a small permissioned group of validators. BFT-based protocols require a supermajority (more than 2/3) of validators to agree. In Arbitrum Sidechains, by contrast, all you need is a single honest validator to achieve guaranteed correctness and progress. Notice that in Arbitrum adding validators strictly increases security since the AnyTrust guarantee provides correctness as long as any one validator is honest and available. By contrast, in BFT-style protocols, adding nodes can be dangerous as a coalition of dishonest nodes can break the protocol.
Like Arbitrum Rollup, the developer and user experiences for Arbitrum Sidechains will be identical to that of Ethereum. Reddit would be able to choose a large and diverse set of validators, and all that they would need to guarantee to break through the scaling barrier is that a single one of them will remain honest.
We hope to have Arbitrum Sidechains in production in early 2021, and thus when Reddit reaches the scale that surpasses the capacity of Rollups, Arbitrum Sidechains will be waiting and ready to help.
While the idea to switch between channels and Rollup to get the best of both worlds is conceptually simple, getting the details right and making sure that the switch does not introduce any attack vectors is highly non-trivial and has been the subject of years of our research (indeed, we were working on this design for years before the term Rollup was even coined).
12. How Arbitrum compares
We include a comparison to several other categories as well as specific projects when appropriate. and explain why we believe that Arbitrum is best suited for Reddit's purposes. We focus our attention on other Ethereum projects.
Payment only Rollups. Compared to Arbitrum Rollup, ZK-Rollups and other Rollups that only support token transfers have several disadvantages:
  • As outlined throughout the proposal, we believe that the entire draw of Ethereum is in its rich smart contracts support which is simply not achievable with today's zero-knowledge proof technology. Indeed, scaling with a ZK-Rollup will add friction to the deployment of smart contracts that interact with Community Points as users will have to withdraw their coins from the ZK-Rollup and transfer them to a smart contract system (like Arbitrum). The community will be best served if Reddit builds on a platform that has built-in, frictionless smart-contract support.
  • All other Rollup protocols of which we are aware employ a centralized operator. While it's true that users retain custody of their coins, the centralized operator can often profit from censoring, reordering, or delaying transactions. A common misconception is that since they're non-custodial protocols, a centralized sequencer does not pose a risk but this is incorrect as the sequencer can wreak havoc or shake down users for side payments without directly stealing funds.
  • Sidechain type protocols can eliminate some of these issues, but they are not trustless. Instead, they require trust in some quorum of a committee, often requiring two-third of the committee to be honest, compared to rollup protocols like Arbitrum that require only a single honest party. In addition, not all sidechain type protocols have committees that are diverse, or even non-centralized, in practice.
  • Plasma-style protocols have a centralized operator and do not support general smart contracts.
13. Concluding Remarks
While it's ultimately up to the judges’ palate, we believe that Arbitrum Rollup is the bakeoff choice that Reddit kneads. We far surpass Reddit's specified workload requirement at present, have much room to optimize Arbitrum Rollup in the near term, and have a clear path to get Reddit to hundreds of millions of users. Furthermore, we are the only project that gives developers and users the identical interface as the Ethereum blockchain and is fully interoperable and tooling-compatible, and we do this all without any new trust assumptions or centralized components.
But no matter how the cookie crumbles, we're glad to have participated in this bake-off and we thank you for your consideration.
About Offchain Labs
Offchain Labs, Inc. is a venture-funded New York company that spun out of Princeton University research, and is building the Arbitrum platform to usher in the next generation of scalable, interoperable, and compatible smart contracts. Offchain Labs is backed by Pantera Capital, Compound VC, Coinbase Ventures, and others.
Leadership Team
Ed Felten
Ed Felten is Co-founder and Chief Scientist at Offchain Labs. He is on leave from Princeton University, where he is the Robert E. Kahn Professor of Computer Science and Public Affairs. From 2015 to 2017 he served at the White House as Deputy United States Chief Technology Officer and senior advisor to the President. He is an ACM Fellow and member of the National Academy of Engineering. Outside of work, he is an avid runner, cook, and L.A. Dodgers fan.
Steven Goldfeder
Steven Goldfeder is Co-founder and Chief Executive Officer at Offchain Labs. He holds a PhD from Princeton University, where he worked at the intersection of cryptography and cryptocurrencies including threshold cryptography, zero-knowledge proof systems, and post-quantum signatures. He is a co-author of Bitcoin and Cryptocurrency Technologies, the leading textbook on cryptocurrencies, and he has previously worked at Google and Microsoft Research, where he co-invented the Picnic signature algorithm. When not working, you can find Steven spending time with his family, taking a nature walk, or twisting balloons.
Harry Kalodner
Harry Kalodner is Co-founder and Chief Technology Officer at Offchain Labs where he leads the engineering team. Before the company he attended Princeton as a Ph.D candidate where his research explored economics, anonymity, and incentive compatibility of cryptocurrencies, and he also has worked at Apple. When not up at 3:00am writing code, Harry occasionally sleeps.
submitted by hkalodner to ethereum [link] [comments]

How does cryptocurrency works?

How does cryptocurrency works?
When we were a much smaller society, people could trade in the community pretty easily, but as the distance in our trade grew, we ended up inventing institutions such as banks, markets, stocks etc. that help us to conduct financial transactions. The currencies we are operating with nowadays are bills or coins, controlled by a centralized authority and tracked by previously mentioned financial institutions. The thing is, having a third party in our money transactions is not always what we wish for. But fortunately, today we have a tool that allows us to make fast and save financial transactions without any middlemen, it has no central authority and it is regulated by math. Sounds cool, right? Cryptocurrency is this tool. It is quite a peculiar system, so let’s take a closer look at it.
by StealthEX

Layers of a crypto-cake

Layer 1: Blockchain

First of all – any cryptocurrency is based on the blockchain. In simple words, blockchain is a kind of a database. It stores information in batches, called blocks that are linked together in a chronological way. As the blockchain is not located in one place but rather on thousands of computers around the globe, the blockchain and the transactions thus are decentralized, they have no head center. The newest blocks of transaction are continuously added on (or changed) to all the previous blocks. That’s how you get a cryptocurrency blockchain.
The technology’s name is a compound of the words “block” and “chain”, as the “blocks” of information are linked together in a “chain”. That’s how crypto security works – the information in the recently created block depends on the previous one. It means that no block can be changed without affecting the others, this system prevents a blockchain from being hacked.
There are 2 kinds of blockchain: private and public. Public, as goes by its name, is publicly available blockchain, whereas private blockchain is permissioned, which only a limited number of people have access to.

Layer 2: Transaction

In fact, everything begins with the intention of someone to complete a transaction. A transaction itself is a file that consists of the sender’s and recipient’s public keys (wallet addresses) and the amount of coins transferred. The sender begins by logging in into his cryptocurrency wallet with the private key – a unique combination of letters and numbers, something you would call a personal password in a bank. Now the transaction is signed and the first step which is called basic public key cryptography is completed.
Then the signed (encrypted) transaction is shared with everyone in the cryptocurrency network, meaning it gets to every other peer. We should mention that the transaction is firstly queued up to be added to the public ledger. Then, when it’s broadcasted to the public ledger, all the computers add a new transaction to a shared list of recent transactions, known as blocks.
Having a ledger forces everyone to “play fair” and reduce the risk of spending extra. The numbers of transactions are publicly available, but the information about senders and receivers is encrypted. Each transaction holds on to a unique set of keys. Whoever owns a set of keys, owns the amount of cryptocurrency associated with those keys (just like whoever owns a bank account owns the money in it). This is how peer-to-peer technology works.

Layer 3: Mining

Now let’s talk about mining. Once confirmed, the transaction is forever captured into the blockchain history**.** The verification of the block is done by Cryptocurrency Miners – they verify and then add blocks to the public ledger. To verify them, miners go down on the road of solving a very difficult math puzzle using powerful software, which is that the computer needs to produce the correct sequence number – “hash” – that is specific to the given block, there is not much chance of finding it. Whoever solves the puzzle first, gets the opportunity to officially add a block of transactions to the ledger and get fresh and new coins as reward. The reward is given in whatever cryptocurrency’s blockchain miners are operating into. For example, BTC originally used to reward miners in 50 BTC, but after the first halving it decreased to 25 BTC, and at present time it is 6.25 BTC. The process of miners competing against each other in order to complete the transactions on the network and get rewarded is known as the Proof-of-Work (PoW) algorithm, which is natural for BTC and many other cryptocurrencies. Also there are another consensus mechanisms: Proof-of-Stake (PoS), Delegated Proof-of-Stake (dPoS), Proof-of-Authority (PoA), Byzantine Fault Tolerance (BFT), Practical Byzantine Fault Tolerance (pBFT), Federated Byzantine Agreement (FBA) and Delegated Byzantine Fault Tolerance (dBFT). Still, all of them are used to facilitate an agreement between network participants.
The way that system works – when many computers try to verify a block – guarantees that no computer is going to monopolize a cryptocurrency market. To ensure the competition stays fair, the puzzle becomes harder as more computers join in. Summing it up, let’s say that mining is responsible for two aspects of the crypto mechanism: producing the proof and allowing more coins to enter circulation.

Types of cryptocurrency

In the virtual currency world there are a bunch of different cryptocurrency types with their own distinctive features.
The first cryptocurrency is, of course, Bitcoin. Bitcoin is the first crypto coin ever created and used. BTC is the most liquid cryptocurrency in the market and has the highest market cap among all the cryptocurrencies.

Altcoins

The term ‘altcoins’ means ‘alternatives’ of Bitcoin. The first altcoin Namecoin was created in 2011 and later on hundreds of them appeared in crypto-world, among them are Ravencoin, Dogecoin, Litecoin, Syscoin etc. Altcoins were initially launched with a purpose to overcome Bitcoin’s weak points and become upgraded substitutes of Bitcoin. Altcoins usually stand an independent blockchain and have their own miners and wallets. Some altcoins actually have boosted features yet none of them gained popularity akin to Bitcoin. More about altcoins in our article.

Tokens

Token is a unit of account that is used to represent the digital balance of an asset. Basically tokens represent an asset or utility that usually are made on another blockchain. Tokens are registered in a database based on blockchain technology, and they are accessed through special applications using electronic signature schemes.
Tokens and cryptocurrencies are not the same thing. Let’s explain it more detailed:
• First of all, unlike cryptocurrencies, tokens can be issued and managed both centralized and decentralized.
• The verification of the token transactions can be conducted both centralized and decentralized, when cryptocurrencies’ verification is only decentralized.
• Tokens do not necessarily run their own blockchain, but for cryptocurrencies having their own blockchain is compulsory.
• Tokens’ prices can be affected by a vast range of factors such as demand and supply, tokens’ additional emission, or binding to other assets. On the other hand, the price of cryptocurrencies is completely regulated by the market.
Tokens can be:
• Utility tokens – something that accesses a user to a product or service and support dApps built on the blockchain.
• Governance tokens – fuel for voting systems executed on the blockchain.
• Transactional tokens – serve as a unit of accounts and used for trading.
• Security tokens – represent legal ownership of an asset, can be used in addition to or in place of a password.
Tokens are usually created through smart contracts and are often adapted to an ICO – initial coin offering, which is a means of crowdfunding. It is much easier to create tokens, that is why they make a majority of coins in existence. Altcoin and token blockchains work on the concept of smart contracts or decentralized applications, where the programmable, self-executing code is ruling the transactions within a blockchain. By the way, the vast majority of tokens were distributed on the Ethereum platform.

Forks

Generally a fork occurs when a protocol code, on which the blockchain is operating, is being changed, modified and updated by developers or users. Due to the changes, the blockchain splits into 2 paths: an old way of doing things and a new way. These changes may happen because: a disagreement between users and creators; a major hack, as it was with Ethereum; developers’ decision to fix errors and add new functionality. The blockchain mainly splits into hard forks and soft forks. Shortly speaking, coin hard forks cannot work with older versions while soft forks still can work with older versions.
Hard fork – after a hard fork, a new version is completely separated from the previous one, there’s no connection between them anymore, although the new version keeps the data of all the previous transactions but now on, each version will have its own transaction history. In order to use the new versions, every node has to upgrade their software. A hard fork requires majority support (or consensus) from coin holders with a connection to the coin network. If enough users don’t update then you will be unable to get a clean upgrade which could lead to a break in the blockchain.
Soft fork – a protocol change, but with backward compatibility. The rules of the network have been changed, but nodes running the old software will still be able to validate transactions, but those updated nodes won’t be able to mine new blocks. So to be used and useful, soft forks require the majority of the network’s hash power. Otherwise, they risk becoming set out and anyway ending up as a hard fork.

Stablecoins

As it comes from the name, stablecoins are price-stabilized that are becoming big in the crypto world. Still enjoying most of the “typical-cryptocurrency” benefits, it is standing out as a fixed and stable coin, not volatile at all. Stablecoins’ values are stabilized by pegging them to other assets such as the US Dollar or gold.
Stablecoins include Tether (USDT), Standard (PAX), Gemini Dollar (GUSD) which are backed by the US Dollar and approved by the New York State Department of Financial Services.

Conclusion

Now that we hacked into cryptocurrency, you probably understand that it is much less mysterious than it first seemed. Nowadays, cryptocurrencies are making the revolution of the financial institution. For example, Bitcoin is currently used in 96 countries and growing, with more than 12,000 transactions per hour. More and more investors are involved, banks and governments realize that these cutting edge technologies are prone to draw their control away. Cryptocurrencies are slowly changing the world and you can choose – either stand beside and observe or become part of history in the making.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 300 coins and constantly updating the cryptocurrency list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example BTC to ETH.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected]).
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/29/how-does-cryptocurrency-works/
submitted by Stealthex_io to StealthEX [link] [comments]

How to Store Your Bitcoin

Before holding any bitcoin, you need somewhere to store it. Just like in the physical world, you store your bitcoin in a wallet.
Similar to a bank account number, your wallet comes with a wallet address that shows up in a ledger search and is shared with others so you can make transactions. This address, which is a shorter, more usable version of your public key, consists of between 26 and 35 random alphanumeric characters, something like 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa. Keep in mind that every letter and number in that address is important. Before sending any bitcoin to your wallet, double-check the entire address, character by character.
Also tied to your wallet address is one or more private keys, which as the name suggests should not be shared with anyone. Keys are used to verify you own the aforementioned public key, and to sign off on transactions. Some wallets create a secure seed phrase, a set of words that will allow you to unlock your wallet if you lose your keys. Print this phrase out and keep it in a safe place.
The unfortunate truth is your bitcoin wallet is akin to your physical wallet. If you lose the private keys to your wallet, you’re most likely going to lose the currency in it forever.
Your wallet generates a master file where your public and private keys are stored. This file should be backed up in case the original file is lost or damaged. Otherwise, you risk losing access to your funds.
You can store your private keys on your computer, mobile device, on a physical storage gadget or even on a piece of paper. It’s crucial that you keep your private keys safe by generating backups both online and offline.
Remember: Your wallet does not reside on any single device. The wallet itself resides on the Bitcoin blockchain, just as your banking app doesn’t truly “hold” the cash in your checking account.
While wallet apps work well and are relatively safe, the safest option is a hardware wallet you keep offline, in a secure place. The most popular hardware wallets use special layers of security to ensure your keys are not stolen and your bitcoin is safe. But, once again, if you lose the hardware wallet your bitcoins are gone unless you have kept reliable backups of the keys.
The least-secure option is an online wallet, i.e. storing your bitcoin in an exchange. This is because the keys are held by a third party. For many, the online exchange wallets are the easiest to set up and use, presenting an all-too-familiar choice: convenience versus safety.
Many serious bitcoin investors use a hybrid approach: They hold a core, long-term amount of bitcoin offline in so-called “cold storage,” while keeping a spending balance in a mobile account.
Depending on your bitcoin strategy and willingness to get technical, here are the different types of bitcoin wallets available. Bitcoin.org has a helper that will show you which wallet to choose.
Cloud wallets exist online and the keys are usually stored in a distant server run by a third party. Cloud-based wallets tend to have a more user-friendly interface but you will be trusting a third party with your private keys, which makes your funds more susceptible to theft. Some examples of this wallet type are Coinbase, Blockchain and Lumi Wallet. Most cryptocurrencies, including bitcoin, have their own native wallets. Some offer additional security features such as offline storage (Coinbase and Xapo).
With your private keys stored on a server, you have to trust the host’s security measures and also trust the host won’t disappear with your money or close down and deny you access.
Software wallets can be installed directly on your computer, giving you private control of your keys. Most have relatively easy configuration and are free. The disadvantage is you are in charge of securing your keys. Software wallets also require greater security precautions. If your computer is hacked or stolen, the thief can get a copy of your wallet and your bitcoin.
While you can download the original software Bitcoin Core protocol (which stores a ledger of all transactions since 2009 and takes up a lot of space), most wallets in use today are “light” wallets, or SPV (Simplified Payment Verification) wallets, which do not download the entire ledger but sync to it.
Electrum is a well-known SPV desktop bitcoin wallet that also offers “cold storage” (a totally offline option for additional security). Exodus can track multiple assets with a sophisticated user interface. Some (such as Jaxx Liberty) can hold a wide range of digital assets, and some (such as Copay) offer the possibility of shared accounts.
Before downloading any app, please confirm you are downloading a legitimate copy of a real wallet. Some shady programmers create clones of various crypto websites and offer downloads for free, leading to the possibility of a hack.
Mobile wallets are available as apps for your smartphone, especially useful if you want to pay for something in bitcoin in a shop or if you want to buy, sell or send while on the move. All of the online wallets and most of the desktop ones mentioned above have mobile versions, while others – such as Abra, Edge and Bread – were created with mobile in mind. Remember, many online wallets will store your keys on the phone itself, leading to the possibility of losing your bitcoin if you lose your phone. Always keep a backup of your keys on a different device and print out your seed phrase.
Hardware wallets are small devices that connect to the web only to enact bitcoin transactions. They are more secure because they are generally offline and therefore not hackable. They can be stolen or lost, however, along with the bitcoins that belong to the stored private keys, so it’s recommended that you backup your keys. Some large investors keep their hardware wallets in secure locations such as bank vaults. Trezor, Keepkey and Ledger are notable examples.
Paper wallets are perhaps the simplest of all the wallets. Paper wallets are pieces of paper that contain the private and public keys of a bitcoin address. Ideal for the long-term storage of bitcoin (away from fire and water, of course) or for the giving of bitcoin as a gift, these wallets are more secure in that they’re not connected to a network. They are, however, easier to lose.
With services such as WalletGenerator, you can easily create a new address and print the wallet on your printer. When you’re ready to top up your paper wallet you simply send some bitcoin to that address and then store it safely. Whatever option you go for, be sure to back up everything and only tell your nearest and dearest where your backups are stored.
submitted by hackatoshi to u/hackatoshi [link] [comments]

Anonimity. Chapter 1. part 1.

First of all, i want to say Sorry, because i use computer interpeter for text of my book. English isn't native language for me. I can talk with you guys, but text is really difficult to translate manually.
This book about near future in Russia. Sometimes it's full of stereotypes and some manners which are hard to understand for people from USA, Europe and ohter world. Almost everything creations in cyberpunk jenre starting like it's actually happened. In 30\* year or so. No one talks how it started. I try to do it. Hope that U will like it.*
Thanks! Have a nice day!
p.s. I'm always in touch on twitter, facebook and etc. Actually since yesterday on Patreon, Lol.

Anonymity is an impersonal property by the meaning of the adjective; lack of individuality, originality.
I would like to be born earlier, say, in the eighties and nineties, and somewhere in Europe or the USA. The point is not that I am not a patriot, but that it was at this time that progress made leaps and bounds all over the world, it was then that the concept of "globalization" became a symbol of the word "progress".
No joke, the flourishing of car production, a breakthrough in aircraft construction, the beginning of the computer era ... Of course, the Soviet Union took an active part in this, only there is a significant factor that would not allow me to enjoy the above to the fullest. The union died in 1991 and hard times came for the inhabitants of the entire post-Soviet space. I could only stand on the sidelines of all this, remembering the first Nintendo, SEGA, PC and other things that were attributes of the life of adolescents in those days. We were shoved from blue screens, as a given, that everywhere and the grass is greener than the trampled parking lot in front of the house, and the sun shines somewhere brighter there.
The corridors of the educational building of the institute, in which I studied since 2020, looked more like the ruins of an ancient civilization. On the walls there were many portraits of scientists from past years, those who seriously looked at students who did not know what they want from life and why they went to a technical university at all.
With the advent of the Internet to the general public, everyone decided that now you can learn from any corner of the world, read books and perform other useful activities. What actually happened? But in fact, people bare all their vices, the traffic of sites with 18+ content is much higher than that of a site with physical and technical content, which is remembered when writing term papers or theses.
The group of students standing in front of room 203 was no exception. If you look at them from the outside, you can understand what this passage about sites of a narrow focus was about. Here is Maxim, he is dressed in tight trousers, a purse hangs on his shoulder, the key to a fresh BMW is in his hand, next to him is a pretty girl in a skirt with a plaid and a white blouse. She smells of some kind of perfume, from which the nose clogs up and the eyes begin to water. She communicates with him, practically dumping her bust out, which he willingly uses. But why should he - a resident of the capital, who already in life everything worked out from the start, a girl from Ryazan province, who came to conquer Moscow - is unclear. First of all, it is not clear to Kirill and Mishka, the two ringleaders of the group, they live in the same room in a hostel and come to the institute in broken-down Zhiguli car. How many years have passed, and these piles of iron still plow the vastness of the universe. The guys do not boast about it, they work part-time in the delivery of pizza and sushi. The work is difficult in places, but if they are here, then they survived. They came from the Orenburg region in the hope of gaining a foothold here, who brought whom - we still need to think, but one thing I can say for sure, everyone needs friends, which means they will not be lost. They are standing with Vit'ka, a resident of the Moscow region, and therefore not in the hostel. The non-rubber dorms in Non-rubber city are beauty. And what he spends, like many of the group, two hours on the road, few people care. I stood in the corner and crammed notes. The rest of the group worried me a little, because I practically did not communicate with them, only on institutional matters. There were a total of twelve people, and in fact almost twenty heads were enrolled in the first year ... - Hey, Kit, look, - said Mishka, who came up to me, nodding at Max.
- I don’t see what to look at,- I looked up from the notes for a second and again buried myself back.
-She’ll strangle him with her airbags now,- he continued.
- Well, at least then Maxim will die happy, I suppose.
- It's already good to cram, the last exam. And then - final exams are handed over, and - freedom. Good already. You have everything on the ointment with the teacher, - Kirill jumped cheerfully.
- On "ointment" does not mean that I will not have to answer questions and take the test part. And there is a commission from all over the department.
- Listen, it's good to fill in, well, - Vitya joined us, - the whole department adores you. The one who needs to worry is her, - he nodded again at Max's interlocutor, - her whole brain will now fall out into the street, and by the age of thirty it will sag to the navel. It’s not the "same coat" now.
- Not understood?! Have you checked, or what? - Mishka and Kirill responded in unison, bulging their eyes at Vitya. - What's the difference whether I checked it or not. I'm just as uninteresting to her as you two are, - He answered.
- No, no, no, come on in more detail here, - said Mishka, folding his arms over his chest, which made his shirt start to crack at the seams. The guys got stronger from physical work.
- Yes, a couple of years ago, I arrived at the institute in my aunt's car. She lives in Moscow, near Sadovoe ring, - began Vitya.
- Well, I remember, she seems to have a Mercedes E-class. We rode at night, - with their conversation, they did tear me away from repeating the material.
- Well, - he continued, - my aunt was leaving for Cyprus for two weeks to rest. She loves me, she cannot have children, so she spoils her nephew. So she said: "Here are the keys to the house, here are the keys to the car. Simple equipment is harmful." I already refused, but she did not accept objections. We rode with you on the third day, and at the end of the week, this madam approaches, - he nodded towards Max, - and it began, everything is the same, the chest is protruding, hints and so on.
- And then what ?! - asked Kiril.
- Next, I collected a scholarship, borrowed it from you, and went for a walk. And that, then it seemed to me, the girl is not bad. We went to Cafe, walked around Zaryadye guide-park. Word for word, we ended up at my aunt’s house, and I’m not taking her to my area. Well, that's all, as they say in the novels.
- And the details? - put in Mishka, - Let's paint, otherwise we see the object, the fantasy works, but here it is.
- There will be no details, I'm talking about the bed in the bed, where you can't get, Misha. I can only say that next week after, we did not get out of it. And then my aunt arrived, and I again returned to my mother in the village. And she said, "let's go for a drive, and let's go to you." Well, I said that I live in a village near Yegoryevsk. She even threatened to declare to write, they say, I forced her all week ... It's good that the threats remained so.
- What are we going to do, Max is swimming, apparently, - I said, looking at how our friend's cheeks melt and his eyes grow cloudy.
- Don't piss, Keith. Look here, - Mishka winked and confidently walked towards the couple.
- Mishka, you would at least wash the dirt from under your nails!- Kirill shouted after him, to which he was sent with his middle finger over his shoulder.
- Let's see how the matter ends, do not distract him, - I asked Kirill.
It is worth making a digression here. Maxim was the son of the head of a department of some multinational corporation. He was not a typical daddy's son, he did not shine with intelligence, but he was not stupid either. He was also not a spoiled major. He dressed modestly, but tastefully, for the first two courses he took the metro, then moved with the help of his father to a second-hand German car. In the first year, we helped each other, all five, and on that one we became friends. When we could have tied a few lines of code together, Max's father started throwing hack for us. Also, he asked to help his younger talent. Who would have thought that from the fourth year the talent itself would be interested in everyone and the money of his father would be spent by all of us on a joint revelry, now in the hostel, then in the country. But we have postponed something. By the way, Max was always ashamed of his father's dachas and loved our simple dachas, in which there was nothing but a house and a bathhouse. And about the fact that we all slept - anywhere, I will not tell. The father gave Max a new car only the other day, when he realized that his son deserved a gift for the end.
The death of Vitya's father brought us even closer, it seems, in his third year ... His father was a strong man who himself left the city closer to the earth. He started a household and so on ... We turned out to be the healthiest foreheads, and carried the coffin to the cemetery. It so happened that he and his mother had few loved ones, and even those old people. Oncology did not ask whom to pick up. Vitya did not live with his aunt, although she always had a room ready for him. He told her: "Who will I leave my mother to?" So we were friends with our five all the time.
In the meantime, Mishka confidently approached the couple, taxied behind Max, shook him by the shoulders, said something, which made Madame's face turn red, and this could be seen even through the foundation, and now they already walked towards us.
- Grandmaster, not otherwise, - Kiril said on exhalation.
- I suggest everyone go out for a smoke, - I said as the guys approached, and we headed for the stairs.
So we, with our motley company, migrated to the entrance to the educational building. The big sign "NO smoking" got an ashen smiley with a mustache, beard, and who was not so cultured, painted what is usually painted on fences in the village. In general, the spirit of student unity was evident here as well. We lit a cigarette with our friendly company.
- Well, what, the last exam, eh?- I began.
- Yes, finally, and then already tired, the sun is outside, girls in skirts, and we are sitting here, - picked up Max.
- Yeah, is it you who fell for the skirt, or just got confused? - I poked him.
- Yes, she came, word for word, so, chatter about nothing, and I see that she constantly props her chest with her hands, but the look itself fell there, - Maxim began to make excuses.
- Yeah, and when the bodice is removed and stops propping up, I guarantee that you will want to put a basin, as if from a drink. This good will fall, like the bitcoin rate in tenths, and everything will end either with a wedding on a fake pregnancy, or you will pay off so that she does not apply for you, - Vitya continued.
- And how do you know, Vitos? You're still a quiet one. Probably, he didn't even hold on to the handle, - Maxim tried to continue the excuse.
- The best defense is offense? - Kirill interjected.
- Hush, Kir. Max, just the same with her and held on to the handle. Remember the third year, when we rode in my aunt's car.
- Let's say. I remember.
- So she was gone for two weeks, and we drank one. The second week I was busy with her, or rather, she suggested it herself, and I did not refuse. I ended up borrowing money from you in order to pay off her. As I remember, a shiver breaks through.
- So you said that on a wheelbarrow, which he threw as soon as he bought, - Max refused to believe.
- As you understand, I didn't buy a car, but paid Madame for services, - Vityok involuntarily grimaced.
- Oh, - Max realized, - I apologize, and thanks for the warning. I just lacked the Ryazan milkmaid.
- Do not forget about saggy tits, - added Mishka.
- Yes, Ryazan milkmaid with sagging tits, - repeated Max and threw out the cigarette butt. We followed suit and returned to the corridor.
There were still a couple of minutes before the start of the exam, there were even more people, room 203 was an amphitheater, which made it possible to conduct exams for a large number of students. Organized groups of students crowded, according to my estimates, at least three, which means about fifty people. That's really, wholesale is cheaper.
- So, gentlemen graduates! - the head of our department, a woman in years, but with an iron grip, and, moreover, an excellent teacher, came out of the office. - I ask you to take seats in the audience.
We are located on the same row, all of our five. As per the precepts, not far, but not close to the commission. If you sit close - you will be in plain sight as a crammer, if from behind - as a gouge. The tactics were working, the answer cheats were prepared in paper, jammers were knocking out the Internet and all kinds of wireless headphones. White noise was reproduced in the headphones, but our Galya (Ryazan milkmaid) was not ready for such a scenario, and upon switching on she began to look around the audience helplessly. We did not gloat, but we did not deprive ourselves of moral satisfaction.
Sweating over the ticket, I wondered, what will happen after school? I didn’t understand at all why I was going to become a programmer. I studied a little, something and somehow, but do I see myself in the profession ??? Not sure. Okay, war will tell the plan. I quickly wrote answers to three out of four questions, thought for a long time, but did not win. Okay, one more four, one less. Kiril and Mishka tensed, their foreheads were covered with sweat, but they write something tirelessly. The commission was already minding its own business and paid less attention to us.
- Pssss, - Max shouted to me.
- What? I replied in a whisper.
- After the exam we are going to my village house, to have a carouse. And I do not want to know the refusal. Pass on. Dad threw off the SMS, I didn't have time to say.
- So you wrote everything? - You offend! I got a favorite topic. And how many business card-sites we riveted, I will keep silent. So that.
On this wonderful note, all students were asked to submit papers. Traditionally, only those with a controversial assessment were personally interviewed. None of our company got into this number, so we loaded into the Maxim's BMW and drove out the City.
The Moscow heat, who has been, knows how hot it is in the megalopolis in summer, especially when the changed tiles get hot for the hundredth time, but the breeze is gone. We left the building happy and tired. The presentation of the diplomas was expected in a month, and today two B grades, A grade for Vitya and C grade for Kirill and Mishka. We went out, Max opened a pack of cigarettes that his father had brought him from Cuba, I think "Cohiba", knocked out a cigarette for everyone and gave them a light. Silently we dragged on simultaneously and headed to the car.
- So, - Max said sternly, - we don't smoke inside!
- I see, - we answered and finished smoking, standing near the apparatus.
I sat in front, as the tallest, the rest of the guys were in the back. Mishka was unlucky most of all, he was pushed into the middle, consider that he rode more inconveniently and higher than all those present, and the village-house was already beyond Sergiev Posad. So from time to time on the hummocks our friend switched to falsetto, while the others enjoyed the ride. Father gave Max a five-sreies with many options in the cabin, but not a very voluminous engine, so that there was no desire to drive beyond measure.
- Max, are we going to stop by the store? Is there meat, booze? - I asked when we drove onto the Yaroslavl highway, breaking through the Moscow traffic jams.
- No, Dad organizes everything. For everyone. There are booze, meat, baths and other joys of life. The whole house is at our disposal, - Max answered calmly and the joyful hubbub of our comrades was heard from the back row.
After some time, we drove into the woods, where we turned into an elite village. Someone lived here permanently, while someone here just had a summer residence. The father of our friend belonged to the second type of people. It's easier to do things when you live next to work and Moscow City is just a stone's throw away, then in general it is beyond praise. Max pressed a button and the gate obediently slid to the side.
- Wow, a house, - drawled Mishka.
- Wow. I saw this in the picture, and even then not often, - Kira echoed.
- And you would pay more attention to common girls when my father called us to celebrate the launch of their product on the market, - Max answered.
- So you were here?
- Yes, we were once,
- I answered.
- Uh-huh, - said Vityok.
There was something to be surprised at. A two-story European-style mansion among trees, with a large veranda on which stood a heavy oak table and chairs. There was also a tennis court at some distance. There was a large garage and a barbecue corner on site. In front of the house there is a lawn with various conifers. Before leaving the car, we smelled the smell of meat.
- Apparently, the father of his cook asked to cook everything, so you guys won't be able to leave hungry, - Max began, getting out from behind the wheel.
- So we were not going to !! - he heard the chorus from behind, and we left the ship.
We decided to go through the house, washing our hands along the way. Heavy oak planks didn't even think to creak when we fell out of the house. These are not modern plastic boards that prick and knock, while crackling like a Chinese bouncy. We went to the table, on which there were already salads, an aperitif was poured into the glasses. We drank.
- And what is this sweet muck? - Mishka responded.
- This is an aperitif, served before meals, so that you want to crackle more, Mish, - Maxim answered.
- Is it like - beer before vodka? Got it, - Kirill responded.
- Okay, I propose to start our celebration, otherwise, you never know, you will take whiskey for used oil, - Maxim continued as the owner.
- Young people. I am glad to welcome you! - a man in a cook's jacket appeared and began to tell us what dishes were on the table. In addition to the Greek salad, there was a warm tuna salad, and some other appetizers, the names of which I did not remember. From his speech, only Max understood the names, and we sat with our mouths open. Well, Vitya and I understood something, but Kirill and Mishka were sitting, frankly with the lower jaw on the floor.
- He's not cursing now? - asked Cyril when the cook left.
- No, he told me what was on the table and what would be on the hot. So, if I were you, I would pour it already, graduates!
- So we will pour! - Mishka took a bottle of Chivas, poured himself, - Who else? he asked briskly.
- Give it to me, - Kiril answered, for which he received his glass of whiskey.
- No, I'm white wine,- Vitya replied, taking a bottle of semi-dry wine.
- I thought there were no girls among us! - Mishka responded with a challenge.
- Misha, don't get to the bottom of him, I'll have vodka and juice myself, so as not to fly to the first space flight ahead of time, - I interjected.
- Let's have a drink already, otherwise you are pouring for three hours, - Max finished the squabble with a glass of vodka. - For the passed certification!
The owner of the house raised toast after toast, we ate dishes on both cheeks. To say that it was delicious is to say nothing, it was wonderful! The funniest thing was to look at Mishka and Kirill, who for the first time saw tuna not in a can, but in a salad, and it was also pink in color. Then the salads were replaced by meat, rack of lamb, ribs in sauce, steaks and various grilled vegetables. Freshly cooked fries teased with flavor ..
submitted by Suharrik to u/Suharrik [link] [comments]

Bitfinex: Up to US$400 Million Reward for Return of Stolen 2016 Bitcoin

Bitfinex is offering a reward to any persons that connect us with hackers responsible for the unauthorized transfer of almost 120,000 bitcoins from the exchange in August 2016. As part of the same initiative, Bitfinex is also offering a reward to the hackers themselves for the return of the stolen property. This incident is a dark chapter in our exchange's history, and we are pleased to offer this reward as further evidence of our determination to obtain the lost property.
Early in the morning on August 2, 2016, hackers breached the security systems of our exchange. As a result, 2072 unauthorised transactions were broadcast on the Bitcoin network, involving 119,755 bitcoins in aggregate. We have learned valuable lessons from this painful episode, addressing the security issues and vulnerabilities associated with the theft.
Today's announcement of a reward is our latest effort to recover these stolen funds. Those who put Bitfinex in contact with the hacker will receive 5% of the total property recovered (or equivalent funds or assets at current market values), and the hackers will receive 25% of the total property recovered (or equivalent funds or assets at current market values). Any payments made to those connecting Bitfinex with the hackers and the hackers themselves will be classified as costs of recovery of the stolen property.
The aggregate rewards available under this programme could be worth up to approximately US$400 million at the current BTC price if all bitcoins are fully recovered. The bitcoins stolen minus recoveries in 2019 are worth $1.344 billion today, with 30 per cent of that amount equal to $403,288,427.
In order to confirm the identity of the hackers, we will request that 1 Satoshi is sent from the wallet address responsible for the hack to a wallet address specified by Bitfinex. We will work to ensure this can be done safely, thereby protecting the identities of all parties, and Bitfinex reserves the right to impose conditions on any transfers in order to verify claims and ensure a secure process.
As the recent hacking incidents at Twitter and Ledger demonstrate, this type of crime continues to be a threat for all businesses in the digital asset space and the wider technology sphere. No-one in our community can afford to be complacent about the ingenuity of criminal gangs to perpetuate new types of fraud.
Bitfinex has made security the overriding, number one priority of the exchange. As an exchange, we know we owe our success to a customer base that has loyally supported us through good and bad times. In the aftermath of the 2016 security breach, the exchange provided BFX tokens to all affected users. Each token represented $1 of losses. Those BFX tokens started trading on Bitfinex at less than $0.20, and gradually increased in value to almost $1. Monthly redemptions began on September 1, 2016, and the last BFX token was redeemed at the beginning of April 2017. More than 52 million BFX tokens were converted to shares of iFinex Inc. at 1:1 tokens to shares.
We have continued to work with law enforcement agents in investigating the 2016 security breach. In February 2019, U.S. authorities recovered 27.66270285 bitcoins stolen in the 2016 hack, which were converted to U.S. dollars and paid to RRT (Recovery Right Token) Holders.
Those with information relating to the 2016 hack at Bitfinex can contact us at: @bitfinex2016 via keybase.
submitted by pmayall to CryptoCurrency [link] [comments]

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submitted by porn_account0001 to u/porn_account0001 [link] [comments]

Symbol is attractive from an enterprise point of view because it is possible to simultaneously maintain private and some public uses of the technology, while using a solution that is designed to support that model. - Dave Hodgson, CIO for NEM Group & Managing Director of NEM Ventures

Symbol is attractive from an enterprise point of view because it is possible to simultaneously maintain private and some public uses of the technology, while using a solution that is designed to support that model. - Dave Hodgson, CIO for NEM Group & Managing Director of NEM Ventures
Dave serves as Chief Investment Officer of NEM Group and Managing Director of NEM Ventures, where his role encompasses group investment management, jurisdictional analysis, partnership building and corporate structure design.
Dave has 15 years experience consulting to various sizes of organisations, government agencies and NGOs on technology projects, and was an early adopter and programme lead for public cloud projects, having led multiple large organisations through their adoption programmes.
Could you begin by explaining what the NEM blockchain is and how it differentiates itself from other public blockchains?
NEMis a modified Proof-of-Stake (PoS) blockchain that is written from scratch and version 1, which we refer to as NIS1, has been running on the public chain since 2015. At the time, NIS1 was one of the earlier PoS chains, as well as one of the first to support on-chain multi-signature. NEM NIS1 has been leveraged for use cases ranging from tracing luxury goods, supply chain tracking, social media, stem cell research and most recently for a Central Bank Digital Currency (CBDC) in Lithuania. We differentiate ourselves by being one of the older chains, having had no down time, no lost assets, no protocol level hacks and by fostering a friendly developer experience and community. The chain has easy to use Software Development Kits (SDKs) that provide enterprise developers with a familiar development experience. At a practical level, this means that the time to go to market for most companies is quicker because there is very little proprietary content to absorb.
Can you describe NEM Ventures and the type of investments that are generally made?
As the venture capital arm, NEM Venturesinvests in companies that build on NEM technology or expand the NEM ecosystem and/or platforms in some way. These investments are made on behalf of the NEM ecosystem and community. We tend to focus on investments in very early stage projects through to series A rounds, with a mixture of companies building directly on the technology, using it in innovative ways or as a partner to the ecosystem generally. We do require the companies to have a genuine commercial plan and a likelihood to reach financial self reliance, however it is not our only measure of a proposal.
One of NEM’s newest products is Symbol, a hybrid blockchain, built specifically with enterprises in mind. Can you elaborate on what Symbol is and why enterprises should pay attention?
The developers built our current public chain (NIS1) from scratch and it has been running for 5.5 years with a cutting-edge feature set. The team took the learnings from that process, advancements in the industry and feature set ideas, and combined them all to develop our second chain, Symbol. Symbol is a new chain, built from scratch to be secure, scalable, decentralized and usable for a variety of purposes.
The technology can be deployed as a private or public chain, and allows protocol level cross chain swaps between both public and private, but also to Ethereum (ETH) and Bitcoin (BTC) via a specific transaction type. The chain supports on chain multi sig (multi level), templatized smart contractssuch as aggregate and bonded transactions, it has built in namespace capabilities to allow aliasing of tokens and accounts with user friendly names. It also has protocol level support for security tokens via a combination of account and token based restriction, delegatable roles for token management and account based metadata.
Check the full interview here.
submitted by ElizaDymond to BlockchainStartups [link] [comments]

Symbol is attractive from an enterprise point of view because it is possible to simultaneously maintain private and some public uses of the technology, while using a solution that is designed to support that model. - Dave Hodgson, CIO for NEM Group & Managing Director of NEM Ventures

Symbol is attractive from an enterprise point of view because it is possible to simultaneously maintain private and some public uses of the technology, while using a solution that is designed to support that model. - Dave Hodgson, CIO for NEM Group & Managing Director of NEM Ventures
Dave serves as Chief Investment Officer of NEM Group and Managing Director of NEM Ventures, where his role encompasses group investment management, jurisdictional analysis, partnership building and corporate structure design.

Dave has 15 years experience consulting to various sizes of organisations, government agencies and NGOs on technology projects, and was an early adopter and programme lead for public cloud projects, having led multiple large organisations through their adoption programmes.
Could you begin by explaining what the NEM blockchain is and how it differentiates itself from other public blockchains?
NEM is a modified Proof-of-Stake (PoS) blockchain that is written from scratch and version 1, which we refer to as NIS1, has been running on the public chain since 2015. At the time, NIS1 was one of the earlier PoS chains, as well as one of the first to support on-chain multi-signature. NEM NIS1 has been leveraged for use cases ranging from tracing luxury goods, supply chain tracking, social media, stem cell research and most recently for a Central Bank Digital Currency (CBDC) in Lithuania. We differentiate ourselves by being one of the older chains, having had no down time, no lost assets, no protocol level hacks and by fostering a friendly developer experience and community. The chain has easy to use Software Development Kits (SDKs) that provide enterprise developers with a familiar development experience. At a practical level, this means that the time to go to market for most companies is quicker because there is very little proprietary content to absorb.
Can you describe NEM Ventures and the type of investments that are generally made?
As the venture capital arm, NEM Ventures invests in companies that build on NEM technology or expand the NEM ecosystem and/or platforms in some way. These investments are made on behalf of the NEM ecosystem and community. We tend to focus on investments in very early stage projects through to series A rounds, with a mixture of companies building directly on the technology, using it in innovative ways or as a partner to the ecosystem generally. We do require the companies to have a genuine commercial plan and a likelihood to reach financial self reliance, however it is not our only measure of a proposal.
One of NEM’s newest products is Symbol, a hybrid blockchain, built specifically with enterprises in mind. Can you elaborate on what Symbol is and why enterprises should pay attention?
The developers built our current public chain (NIS1) from scratch and it has been running for 5.5 years with a cutting-edge feature set. The team took the learnings from that process, advancements in the industry and feature set ideas, and combined them all to develop our second chain, Symbol. Symbol is a new chain, built from scratch to be secure, scalable, decentralized and usable for a variety of purposes.
The technology can be deployed as a private or public chain, and allows protocol level cross chain swaps between both public and private, but also to Ethereum (ETH) and Bitcoin (BTC) via a specific transaction type. The chain supports on chain multi sig (multi level), templatized smart contracts such as aggregate and bonded transactions, it has built in namespace capabilities to allow aliasing of tokens and accounts with user friendly names. It also has protocol level support for security tokens via a combination of account and token based restriction, delegatable roles for token management and account based metadata.
Check the full interview here.
submitted by ElizaDymond to altcoin_news [link] [comments]

Bitsler Free Script 10 BTC Hack Bitcoin hack software 2019 A real working program for hacking bitcoin addresses Best soft hack bitcoin addresses Brute force Bitcoin hack Bitcoin mining software New Bitcoin Script Blockchain Unconfirmed Script #2019

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