List of Cryptocurrency Market Makers Cryptomorrow ...

Zano Newcomers Introduction/FAQ - please read!

Welcome to the Zano Sticky Introduction/FAQ!

https://preview.redd.it/al1gy9t9v9q51.png?width=424&format=png&auto=webp&s=b29a60402d30576a4fd95f592b392fae202026ca
Hopefully any questions you have will be answered by the resources below, but if you have additional questions feel free to ask them in the comments. If you're quite technically-minded, the Zano whitepaper gives a thorough overview of Zano's design and its main features.
So, what is Zano? In brief, Zano is a project started by the original developers of CryptoNote. Coins with market caps totalling well over a billion dollars (Monero, Haven, Loki and countless others) run upon the codebase they created. Zano is a continuation of their efforts to create the "perfect money", and brings a wealth of enhancements to their original CryptoNote code.
Development happens at a lightning pace, as the Github activity shows, but Zano is still very much a work-in-progress. Let's cut right to it:
Here's why you should pay attention to Zano over the next 12-18 months. Quoting from a recent update:
Anton Sokolov has recently joined the Zano team. ... For the last months Anton has been working on theoretical work dedicated to log-size ring signatures. These signatures theoretically allows for a logarithmic relationship between the number of decoys and the size/performance of transactions. This means that we can set mixins at a level from up to 1000, keeping the reasonable size and processing speed of transactions. This will take Zano’s privacy to a whole new level, and we believe this technology will turn out to be groundbreaking!
If successful, this scheme will make Zano the most private, powerful and performant CryptoNote implementation on the planet. Bar none. A quantum leap in privacy with a minimal increase in resource usage. And if there's one team capable of pulling it off, it's this one.

What else makes Zano special?

You mean aside from having "the Godfather of CryptoNote" as the project lead? ;) Actually, the calibre of the developers/researchers at Zano probably is the project's single greatest strength. Drawing on years of experience, they've made careful design choices, optimizing performance with an asynchronous core architecture, and flexibility and extensibility with a modular code structure. This means that the developers are able to build and iterate fast, refining features and adding new ones at a rate that makes bigger and better-funded teams look sluggish at best.
Zano also has some unique features that set it apart from similar projects:
Privacy Firstly, if you're familiar with CryptoNote you won't be surprised that Zano transactions are private. The perfect money is fungible, and therefore must be untraceable. Bitcoin, for the most part, does little to hide your transaction data from unscrupulous observers. With Zano, privacy is the default.
The untraceability and unlinkability of Zano transactions come from its use of ring signatures and stealth addresses. What this means is that no outside observer is able to tell if two transactions were sent to the same address, and for each transaction there is a set of possible senders that make it impossible to determine who the real sender is.
Hybrid PoW-PoS consensus mechanism Zano achieves an optimal level of security by utilizing both Proof of Work and Proof of Stake for consensus. By combining the two systems, it mitigates their individual vulnerabilities (see 51% attack and "nothing at stake" problem). For an attack on Zano to have even a remote chance of success the attacker would have to obtain not only a majority of hashing power, but also a majority of the coins involved in staking. The system and its design considerations are discussed at length in the whitepaper.
Aliases Here's a stealth address: ZxDdULdxC7NRFYhCGdxkcTZoEGQoqvbZqcDHj5a7Gad8Y8wZKAGZZmVCUf9AvSPNMK68L8r8JfAfxP4z1GcFQVCS2Jb9wVzoe. I have a hard enough time remembering my phone number. Fortunately, Zano has an alias system that lets you register an address to a human-readable name. (@orsonj if you want to anonymously buy me a coffee)
Multisig
Multisignature (multisig) refers to requiring multiple keys to authorize a Zano transaction. It has a number of applications, such as dividing up responsibility for a single Zano wallet among multiple parties, or creating backups where loss of a single seed doesn't lead to loss of the wallet.
Multisig and escrow are key components of the planned Decentralized Marketplace (see below), so consideration was given to each of them from the design stages. Thus Zano's multisig, rather than being tagged on at the wallet-level as an afterthought, is part of its its core architecture being incorporated at the protocol level. This base-layer integration means months won't be spent in the future on complicated refactoring efforts in order to integrate multisig into a codebase that wasn't designed for it. Plus, it makes it far easier for third-party developers to include multisig (implemented correctly) in any Zano wallets and applications they create in the future.
(Double Deposit MAD) Escrow
With Zano's escrow service you can create fully customizable p2p contracts that are designed to, once signed by participants, enforce adherence to their conditions in such a way that no trusted third-party escrow agent is required.
https://preview.redd.it/jp4oghyhv9q51.png?width=1762&format=png&auto=webp&s=12a1e76f76f902ed328886283050e416db3838a5
The Particl project, aside from a couple of minor differences, uses an escrow scheme that works the same way, so I've borrowed the term they coined ("Double Deposit MAD Escrow") as I think it describes the scheme perfectly. The system requires participants to make additional deposits, which they will forfeit if there is any attempt to act in a way that breaches the terms of the contract. Full details can be found in the Escrow section of the whitepaper.
The usefulness of multisig and the escrow system may not seem obvious at first, but as mentioned before they'll form the backbone of Zano's Decentralized Marketplace service (described in the next section).

What does the future hold for Zano?

The planned upgrade to Zano's privacy, mentioned at the start, is obviously one of the most exciting things the team is working on, but it's not the only thing.
Zano Roadmap
Decentralized Marketplace
From the beginning, the Zano team's goal has been to create the perfect money. And money can't just be some vehicle for speculative investment, money must be used. To that end, the team have created a set of tools to make it as simple as possible for Zano to be integrated into eCommerce platforms. Zano's API’s and plugins are easy to use, allowing even those with very little coding experience to use them in their E-commerce-related ventures. The culmination of this effort will be a full Decentralized Anonymous Marketplace built on top of the Zano blockchain. Rather than being accessed via the wallet, it will act more as a service - Marketplace as a Service (MAAS) - for anyone who wishes to use it. The inclusion of a simple "snippet" of code into a website is all that's needed to become part a global decentralized, trustless and private E-commerce network.
Atomic Swaps
Just as Zano's marketplace will allow you to transact without needing to trust your counterparty, atomic swaps will let you to easily convert between Zano and other cyryptocurrencies without having to trust a third-party service such as a centralized exchange. On top of that, it will also lead to the way to Zano's inclusion in the many decentralized exchange (DEX) services that have emerged in recent years.

Where can I buy Zano?

Zano's currently listed on the following exchanges:
https://coinmarketcap.com/currencies/zano/markets/
It goes without saying, neither I nor the Zano team work for any of the exchanges or can vouch for their reliability. Use at your own risk and never leave coins on a centralized exchange for longer than necessary. Your keys, your coins!
If you have any old graphics cards lying around(both AMD & NVIDIA), then Zano is also mineable through its unique ProgPowZ algorithm. Here's a guide on how to get started.
Once you have some Zano, you can safely store it in one of the desktop or mobile wallets (available for all major platforms).

How can I support Zano?

Zano has no marketing department, which is why this post has been written by some guy and not the "Chief Growth Engineer @ Zano Enterprises". The hard part is already done: there's a team of world class developers and researchers gathered here. But, at least at the current prices, the team's funds are enough to cover the cost of development and little more. So the job of publicizing the project falls to the community. If you have any experience in community building/growth hacking at another cryptocurrency or open source project, or if you're a Zano holder who would like to ensure the project's long-term success by helping to spread the word, then send me a pm. We need to get organized.
Researchers and developers are also very welcome. Working at the cutting edge of mathematics and cryptography means Zano provides challenging and rewarding work for anyone in those fields. Please contact the project's Community Manager u/Jed_T if you're interested in joining the team.
Social Links:
Twitter
Discord Server
Telegram Group
Medium blog
I'll do my best to keep this post accurate and up to date. Message me please with any suggested improvements and leave any questions you have below.
Welcome to the Zano community and the new decentralized private economy!
submitted by OrsonJ to Zano [link] [comments]

Groestlcoin 6th Anniversary Release

Introduction

Dear Groestlers, it goes without saying that 2020 has been a difficult time for millions of people worldwide. The groestlcoin team would like to take this opportunity to wish everyone our best to everyone coping with the direct and indirect effects of COVID-19. Let it bring out the best in us all and show that collectively, we can conquer anything.
The centralised banks and our national governments are facing unprecedented times with interest rates worldwide dropping to record lows in places. Rest assured that this can only strengthen the fundamentals of all decentralised cryptocurrencies and the vision that was seeded with Satoshi's Bitcoin whitepaper over 10 years ago. Despite everything that has been thrown at us this year, the show must go on and the team will still progress and advance to continue the momentum that we have developed over the past 6 years.
In addition to this, we'd like to remind you all that this is Groestlcoin's 6th Birthday release! In terms of price there have been some crazy highs and lows over the years (with highs of around $2.60 and lows of $0.000077!), but in terms of value– Groestlcoin just keeps getting more valuable! In these uncertain times, one thing remains clear – Groestlcoin will keep going and keep innovating regardless. On with what has been worked on and completed over the past few months.

UPDATED - Groestlcoin Core 2.18.2

This is a major release of Groestlcoin Core with many protocol level improvements and code optimizations, featuring the technical equivalent of Bitcoin v0.18.2 but with Groestlcoin-specific patches. On a general level, most of what is new is a new 'Groestlcoin-wallet' tool which is now distributed alongside Groestlcoin Core's other executables.
NOTE: The 'Account' API has been removed from this version which was typically used in some tip bots. Please ensure you check the release notes from 2.17.2 for details on replacing this functionality.

How to Upgrade?

Windows
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer.
OSX
If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), run the dmg and drag Groestlcoin Core to Applications.
Ubuntu
http://groestlcoin.org/forum/index.php?topic=441.0

Other Linux

http://groestlcoin.org/forum/index.php?topic=97.0

Download

Download the Windows Installer (64 bit) here
Download the Windows Installer (32 bit) here
Download the Windows binaries (64 bit) here
Download the Windows binaries (32 bit) here
Download the OSX Installer here
Download the OSX binaries here
Download the Linux binaries (64 bit) here
Download the Linux binaries (32 bit) here
Download the ARM Linux binaries (64 bit) here
Download the ARM Linux binaries (32 bit) here

Source

ALL NEW - Groestlcoin Moonshine iOS/Android Wallet

Built with React Native, Moonshine utilizes Electrum-GRS's JSON-RPC methods to interact with the Groestlcoin network.
GRS Moonshine's intended use is as a hot wallet. Meaning, your keys are only as safe as the device you install this wallet on. As with any hot wallet, please ensure that you keep only a small, responsible amount of Groestlcoin on it at any given time.

Features

Download

iOS
Android

Source

ALL NEW! – HODL GRS Android Wallet

HODL GRS connects directly to the Groestlcoin network using SPV mode and doesn't rely on servers that can be hacked or disabled.
HODL GRS utilizes AES hardware encryption, app sandboxing, and the latest security features to protect users from malware, browser security holes, and even physical theft. Private keys are stored only in the secure enclave of the user's phone, inaccessible to anyone other than the user.
Simplicity and ease-of-use is the core design principle of HODL GRS. A simple recovery phrase (which we call a Backup Recovery Key) is all that is needed to restore the user's wallet if they ever lose or replace their device. HODL GRS is deterministic, which means the user's balance and transaction history can be recovered just from the backup recovery key.

Features

Download

Main Release (Main Net)
Testnet Release

Source

ALL NEW! – GroestlcoinSeed Savior

Groestlcoin Seed Savior is a tool for recovering BIP39 seed phrases.
This tool is meant to help users with recovering a slightly incorrect Groestlcoin mnemonic phrase (AKA backup or seed). You can enter an existing BIP39 mnemonic and get derived addresses in various formats.
To find out if one of the suggested addresses is the right one, you can click on the suggested address to check the address' transaction history on a block explorer.

Features

Live Version (Not Recommended)

https://www.groestlcoin.org/recovery/

Download

https://github.com/Groestlcoin/mnemonic-recovery/archive/master.zip

Source

ALL NEW! – Vanity Search Vanity Address Generator

NOTE: NVidia GPU or any CPU only. AMD graphics cards will not work with this address generator.
VanitySearch is a command-line Segwit-capable vanity Groestlcoin address generator. Add unique flair when you tell people to send Groestlcoin. Alternatively, VanitySearch can be used to generate random addresses offline.
If you're tired of the random, cryptic addresses generated by regular groestlcoin clients, then VanitySearch is the right choice for you to create a more personalized address.
VanitySearch is a groestlcoin address prefix finder. If you want to generate safe private keys, use the -s option to enter your passphrase which will be used for generating a base key as for BIP38 standard (VanitySearch.exe -s "My PassPhrase" FXPref). You can also use VanitySearch.exe -ps "My PassPhrase" which will add a crypto secure seed to your passphrase.
VanitySearch may not compute a good grid size for your GPU, so try different values using -g option in order to get the best performances. If you want to use GPUs and CPUs together, you may have best performances by keeping one CPU core for handling GPU(s)/CPU exchanges (use -t option to set the number of CPU threads).

Features

Usage

https://github.com/Groestlcoin/VanitySearch#usage

Download

Source

ALL NEW! – Groestlcoin EasyVanity 2020

Groestlcoin EasyVanity 2020 is a windows app built from the ground-up and makes it easier than ever before to create your very own bespoke bech32 address(es) when whilst not connected to the internet.
If you're tired of the random, cryptic bech32 addresses generated by regular Groestlcoin clients, then Groestlcoin EasyVanity2020 is the right choice for you to create a more personalised bech32 address. This 2020 version uses the new VanitySearch to generate not only legacy addresses (F prefix) but also Bech32 addresses (grs1 prefix).

Features

Download

Source

Remastered! – Groestlcoin WPF Desktop Wallet (v2.19.0.18)

Groestlcoin WPF is an alternative full node client with optional lightweight 'thin-client' mode based on WPF. Windows Presentation Foundation (WPF) is one of Microsoft's latest approaches to a GUI framework, used with the .NET framework. Its main advantages over the original Groestlcoin client include support for exporting blockchain.dat and including a lite wallet mode.
This wallet was previously deprecated but has been brought back to life with modern standards.

Features

Remastered Improvements

Download

Source

ALL NEW! – BIP39 Key Tool

Groestlcoin BIP39 Key Tool is a GUI interface for generating Groestlcoin public and private keys. It is a standalone tool which can be used offline.

Features

Download

Windows
Linux :
 pip3 install -r requirements.txt python3 bip39\_gui.py 

Source

ALL NEW! – Electrum Personal Server

Groestlcoin Electrum Personal Server aims to make using Electrum Groestlcoin wallet more secure and more private. It makes it easy to connect your Electrum-GRS wallet to your own full node.
It is an implementation of the Electrum-grs server protocol which fulfils the specific need of using the Electrum-grs wallet backed by a full node, but without the heavyweight server backend, for a single user. It allows the user to benefit from all Groestlcoin Core's resource-saving features like pruning, blocks only and disabled txindex. All Electrum-GRS's feature-richness like hardware wallet integration, multi-signature wallets, offline signing, seed recovery phrases, coin control and so on can still be used, but connected only to the user's own full node.
Full node wallets are important in Groestlcoin because they are a big part of what makes the system be trust-less. No longer do people have to trust a financial institution like a bank or PayPal, they can run software on their own computers. If Groestlcoin is digital gold, then a full node wallet is your own personal goldsmith who checks for you that received payments are genuine.
Full node wallets are also important for privacy. Using Electrum-GRS under default configuration requires it to send (hashes of) all your Groestlcoin addresses to some server. That server can then easily spy on your transactions. Full node wallets like Groestlcoin Electrum Personal Server would download the entire blockchain and scan it for the user's own addresses, and therefore don't reveal to anyone else which Groestlcoin addresses they are interested in.
Groestlcoin Electrum Personal Server can also broadcast transactions through Tor which improves privacy by resisting traffic analysis for broadcasted transactions which can link the IP address of the user to the transaction. If enabled this would happen transparently whenever the user simply clicks "Send" on a transaction in Electrum-grs wallet.
Note: Currently Groestlcoin Electrum Personal Server can only accept one connection at a time.

Features

Download

Windows
Linux / OSX (Instructions)

Source

UPDATED – Android Wallet 7.38.1 - Main Net + Test Net

The app allows you to send and receive Groestlcoin on your device using QR codes and URI links.
When using this app, please back up your wallet and email them to yourself! This will save your wallet in a password protected file. Then your coins can be retrieved even if you lose your phone.

Changes

Download

Main Net
Main Net (FDroid)
Test Net

Source

UPDATED – Groestlcoin Sentinel 3.5.06 (Android)

Groestlcoin Sentinel is a great solution for anyone who wants the convenience and utility of a hot wallet for receiving payments directly into their cold storage (or hardware wallets).
Sentinel accepts XPUB's, YPUB'S, ZPUB's and individual Groestlcoin address. Once added you will be able to view balances, view transactions, and (in the case of XPUB's, YPUB's and ZPUB's) deterministically generate addresses for that wallet.
Groestlcoin Sentinel is a fork of Groestlcoin Samourai Wallet with all spending and transaction building code removed.

Changes

Download

Source

UPDATED – P2Pool Test Net

Changes

Download

Pre-Hosted Testnet P2Pool is available via http://testp2pool.groestlcoin.org:21330/static/

Source

submitted by Yokomoko_Saleen to groestlcoin [link] [comments]

Cosmos — an early in-depth analysis at the ecosystem of connected blockchains — Part One

Cosmos — an early in-depth analysis at the ecosystem of connected blockchains — Part One
This is part one of three articles where i will discuss what i have learnt whilst looking into Cosmos. I will provide links throughout the article to provide reference to sections as well as a list of sources at the bottom of the article for you to look into specific areas in more detail if required. Hopefully it will be useful for those interested in learning more about the project.
Cosmos is still very early in development process with components such as IBC which connects two blockchains together currently in research / specification stage, as a result can change by the time its released.

What is Cosmos?

Cosmos is a network and a framework for interoperability between blockchains. The zones are powered by Tendermint Core, which provides a high-performance, consistent, secure PBFT-like consensus engine, where strict fork-accountabilityguarantees hold over the behaviour of malicious actors. Cosmos is not a product but an ecosystem built on a set of modular, adaptable and interchangeable tools.
In Tendermint, consensus nodes go through a multi-round voting proposal process first before coming to consensus on the contents of a block. When 2/3 of those nodes decide on a block, then they run it through the state transition logic providing instant finality. In current proof of work consensus for Ethereum, the consensus process is inverted, where miners pick the transactions to include in a block, run state updates, then do “work” to try and mine the block.
Tendermint BFT can handle up to thousands of transactions per second (depending on the number of validators). However, this only takes into account the consensus part, the application layer is the limiting factor though. Ethermint (described below) has achieved up to 200 tps to give you an idea of the speed available per blockchain which is significantly more than current versions of Ethereum and Bitcoin etc.
The Tendermint consensus is used in a wide variety of projects, some of the most notable include Binance Chain, Hyperledger Burrow. It’s important to note though that just using Tendermint consensus doesn’t mean they can connect to other chains with the cosmos ecosystem, they would need to fork their code to implement IBC as a native protocol to allow interoperability through IBC.
see https://raw.githubusercontent.com/devcorn/hackatom/mastetminfo.pdf for high res

The Tendermint consensus algorithm follows a traditional approach which relies on all validators to communicate with one another to reach consensus. Because of the communication overhead, it does not scale to 1000s of validators like Bitcoin or Ethereum, which can have an unlimited number of validators. Tendermint works when there are 100s of validators. (Cosmos Hub currently has a maximum of 100 validators and the maximum tested so far with Tendermint is 180 validators)
Therefore, one of the downsides of a blockchain built using Tendermint is that, unlike Bitcoin or Ethereum, it requires the validators to be known ahead of time and doesn’t allow for miners to come and go as they please.Besides this, it also requires the system to maintain some notion of time, which is known to be a complex problem in theory. Although in practice, Tendermint has proven this can be done reasonably well if you use the timestamp aggregates of each node.
In this regard, one could argue that Tendermint consensus protocol is “less decentralized” than Bitcoin because there are fewer validators, and they must be known ahead of time.
Tendermint’s protocol guarantees safety and liveness, assuming more than 2/3 of the validators’ voting power is not Byzantine (i.e., malicious). In other words, if less than 1/3 of the network voting power is Byzantine, the protocol can guarantee safety and liveness (i.e., validators will never commit conflicting blocks at the same height and the blockchain continues to make progress).https://www.preethikasireddy.com/posts/how-does-cosmos-work-part1
To see the process of how Tendermint works please see this diagram as well as more info here

Sovereignty

Cosmos goal is to provide sovereignty through governance to developers by making it easy to build blockchains via the Cosmos SDK and provide interoperability between them, using Tendermint consensus. This is their main differentiator compared to competition like Polkadot and Ethereum 2.0. Ethereum 2.0 and Polkadot are taking a different approach by only using shared security, where there is a root chain which controls the security / prevents double spending for all connected blockchains.
In Hub governance all stakers vote, the validators vote is superseded if the delegator votes directly
Governance is where all stakers vote on proposals to determine what changes are implemented in the future for their own blockchain, stakers can either choose to delegate their vote to the validator or they can instead vote directly. Without sovereignty all DAPPs share the same underlying environment. If an application requires a new feature in the EVM it has to rely entirely on the governance of the Ethereum Platform to accept it for example. However, there are also tradeoffs to having sovereignty as each zone is going to need a way to incentivise others to validate / create blocks on the Zone by running Full Nodes. Whilst it may be easy to create a blockchain using the cosmos SDK and to mint a token, there are the legal costs / regulation associated with creating your own token. How are you going to distribute the tokens? How are you going to list them on exchanges? How are you going to incentivise others to use the token without being classed as a security? All of which have led to a significant reduction in the number of ICOs being done. With every zone needing their own validator set, there’s going to be a huge number of validators required each trying to persuade them to validate their zone with only a finite number of validators available.
Each Zone / App is essentially a mini DAO and not all are going to be comfortable about having their project progress been taken out of their hands and instead relying on the community to best decide on the future (unless they control 2/3 of the tokens). The Cosmos Hub has proved this can be successful, but others may be risk averse to having their application be a mini DAO. Should someone / competitor acquire 1/3 of the tokens of a zone then they could potentially prevent any further progress being made by rejecting all governance votes (this would be very costly to do on the Cosmos Hub due to its high amount staked, but for all the other less secure zones this potentially may be an issue).
Security for some zones will likely be a lot lower with every developer needing to validate their own blockchain and tokenise them with POS with no easy way to validate the setup of a validator to ensure its secure. Whilst the Cosmos hub is very secure with its current value staked, how secure zone’s will be with significantly less staked remains to be seen. Whilst providing soverignty was Cosmos’s main goal from the start, they are also looking at being able to provide shared security by having validators of a connected Hub also validate /create new blocks on the connected zone’s blockchain for them as well. They are still going to need some way to incentivise the validators to this. Another option is if the developers didn’t want to create a token, nor want sovereignty etc, then they could just build a DAPP on the EVM on a zone such as Ethermint.
As can be seen their are potential advantages and disadvantages to each method, but rather than forcing shared security like Ethereum and Polkadot, Cosmos is giving the developer the choice so will be interesting to see which they prefer to go for.

Layers of a blockchain

From an architecture standpoint, each blockchain can be divided into three conceptual layers:
  • Application: Responsible for updating the state given a set of transactions, i.e. processing transactions.
  • Networking: Responsible for the propagation of transactions and consensus-related messages.
  • Consensus: Enables nodes to agree on the current state of the system.
The state machine is the same as the application layer. It defines the state of the application and the state-transition functions. The other layers are responsible for replicating the state machine on all the nodes that connect to the network.
The Cosmos SDK is a generalized framework that simplifies the process of building secure blockchain applications on top of Tendermint BFT. The goal of the Cosmos SDK is to create an ecosystem of modules that allows developers to easily spin up application-specific blockchains without having to code each bit of functionality of their application from scratch. Anyone can create a module for the Cosmos SDK and using ready built modules in your blockchain is as simple as importing them into your application.
The Tendermint BFT engine is connected to the application by a socket protocol called the Application Blockchain Interface (ABCI). This protocol can be wrapped in any programming language, making it possible for developers to choose a language that fits their needs.

https://preview.redd.it/5vpheheqmba31.png?width=770&format=png&auto=webp&s=ec3c58fb7fafe10a512dbb131ecef6e841e6721c

Hub and Spoke Topology

Cosmos follows a hub and spoke topology as its not feasible to connect every zone together. If you were to connect every blockchain together the number of connections in the network would grow quadratically with the number of zones. So, if there are 100 zones in the network then that would equal 4950 connections.
Zones are regular heterogenous blockchains and Hubs are blockchains specifically designed to connect Zones together. When a Zone creates an IBC connection with a Hub, it can automatically access (i.e. send to and receive from) every other Zone that is connected to it. As a result, each Zone only needs to establish a limited number of connections with a restricted set of Hubs. Hubs also prevent double spending among Zones. This means that when a Zone receives a token from a Hub, it only needs to trust the origin Zone of this token and each of the Hubs in its path. Hubs do not verify or execute transactions committed on other zones, so it is the responsibility of users to send tokens to zones that they trust.
There will be many Hubs within Cosmos network the first Hub to launch was the Cosmos Hub whose native staking token is called ATOM. ATOM tokens are specific to just the Cosmos Hub which is one hub of many, each with their own token. Transaction fees for the Cosmos Hub will be payable in multiple tokens so not just ATOMs whereas other Hubs such as IRIS has made it so that all transaction fees are paid in IRIS for transactions on its hub.
As mentioned, the Cosmos Hub is one of many hubs in the network and currently has a staking ratio of around 70% with its token ATOM having a market cap of just over $800 million. IRISnet was the second Hub to launch which currently has around 28% bonded with its token IRIS which has a market cap of just under $17 million. The Third Hub about to be launched later this month has its token SENT which has a market cap of around $3.4 million. As you can see the security of these 3 hubs differ wildly and as more and more hubs and then zones are brought online there is going to need to be a lot of tokens / incentivisation for validators.
Ethermint
Standard Cosmos zones / hubs don’t have smart contract functionality and so to enable this, as the Application layer is abstracted from the consensus layer via ABCI API described earlier, it allows Cosmos to port the code over from other blockchains such as Ethereum and use it with the Tendermint Consensus to provide access to the Ethereum Virtual Machine. This is what is called Ethermint.
This allows developers to connect their zones to specialised zones such as Ethermint to build and run smart contracts based on Solidity, whilst benefiting from the faster performance of the tendermint Conensus over the existing POW implementation currently. Whereas a normal Go Ethereum process runs at ~12.5 transactions per second (TPS), Ethermint caps out at 200 TPS. This is a comparison against existing Ethereum speeds, whilst obviously Ethereum are working on their own scaling solutions with Ethereum 2.0 which will likely be ready around the same time. Existing tools / dapps used on ethereum should easily be able to be ported over to Ethermint by the developer if required.
In addition to vertical scaling (with the increase in tps by using Tendermint consensus), it can also have multiple parallel chains running the same application and operated by a common validator set. So if 1 Ethermint zone caps out at 200 TPS then 4 Ethermint zones running in parallel would theoretically cap out at 800 TPS for example.

https://preview.redd.it/e2pghr9smba31.png?width=554&format=png&auto=webp&s=a6e472a6e4a0f3845b03c36caef8b42d77125e46
There is a huge number of developers / apps currently built on Ethereum, should a developer choose to migrate their DAPP over to Ethermint they would lose native compatibility with those on Ethereum (except through Peg Zone), but would gain compatibility with those running on Ethermint and others in the cosmos ecosystem.
You can find out more about Ethermint here and here

IBC

IBC stands for inter-blockchain communication protocol and is an end-to-end, connection-oriented, stateful protocol for reliable, ordered, authenticated communication between modules on separate distributed ledgers. Ledgers hosting IBC must provide a certain set of functions for consensus transcript verification and cryptographic commitment proof generation, and IBC packet relayers (off-chain processes) are expected to have access to network protocols and physical datalinks as required to read the state of one ledger and submit data to another.
In the IBC architecture, modules are not directly sending messages to each other over networking infrastructure, but rather creating messages to be sent which are then physically relayed via “Relayers”. “Relayers” run off-chain and continuously scan the state of each ledger via a light client connected to each of the 2 chains and can also execute transactions on another ledger when outgoing datagrams have been committed. For correct operation and progress in a connection between two ledgers, IBC requires only that at least one correct and live relayer process exists which can relay between the ledgers. Relays will need to be incentivised to perform this task (the method to which hasn’t been established as of this writing)
The relay process must have access to accounts on both chains with sufficient balance to pay for transaction fees. Relayers may employ application-level methods to recoup these fees, such by including a small payment to themselves in the packet data. More information on Relayers can be found here

https://preview.redd.it/qr4k6cxtmba31.png?width=1100&format=png&auto=webp&s=d79871767ced4bcb0b2632cc137c118f70c3863a
A high-level overview of the process is that Zone 1 commits an outbound message on its blockchan about sending say 1 x Token A to Hub1 and puts 1 x Token A in escrow. Consensus is reached in Zone 1, and then it’s passed to the IBC module to create a packet which contains the reference to the committed block, source and destination channel/ connection and timeout details and is added to Zone 1’s outbound queue as proof.
All relayers (who run off-chain) are continuously monitoring the state of Zone 1 via the Zone 1 light client. A Relayer such as Relayer 1 is chosen and submits a proof to Hub1 that Zone 1.
Hub 1 then sends a receipt as proof that it has received the message from Zone 1, relayer1 sends it to Zone 1. Zone 1 then removes it from its outbound queue and sends proof via another receipt to Hub1. Hub1 verifies the proof and mints the token.

https://preview.redd.it/qn7895rumba31.png?width=770&format=png&auto=webp&s=96d9d808b2284f87d45fa0bd7b8bff297c86c2da
This video below explains the process in more detail as well as covers some of the other points i raise later in this article so worth a watch (time stamped from 22:24 to 32:25) and also here from 38:53 to 42:50
https://youtu.be/5h8DXul4lH0?t=1344
Whilst there is an option for UDP style transfer where a zone will send a message to a Hub and it doesn’t care whether it gets there or in any order etc, Token transfers are going to require the TCP style connections in IBC where there is a send, receipt and then another receipt as explained above. Each Send, receipt followed by another receipt is going to take at least 2 blocks and so using Cosmos Hub block times as an example with 6.88 second block times a transfer between one zone and hub could take a minimum of 41.28 seconds. You also then have to factor in the amount of other transactions going through those at that time and relevant gas price to see whether it is able to use 2 consecutive blocks or whether it may take more. This is also explained in this video “ILP Summit 2019 | Cosmos and Interledger | Sunny Aggarwal” (time stamped) from to 12:50 to 15:45

In Part Two we will look at potential issues with multi hop routing, token transfers across multiple routes and Peg Zones, whilst also looking at other interoperability solutions that would resolve some of these issues and compliment the cosmos ecosystem. Part Two can be found here
submitted by xSeq22x to cosmosnetwork [link] [comments]

Introduction, Resources, and FAQ

Official Resources

 
 

Community Resources

 
 

Social Media

 
 

General FAQ

 

What is Ardor?

Ardor is a scalable blockchain-as-a-service platform with a wide variety of built-in features. It consists of a single parent blockchain, also called Ardor, and a set of child blockchains. The parent chain provides security for the child chains, and the child chains provide all of the features for users.

What is Ardor not?

Ardor is not:
  • Just a white paper;
  • An ERC20 token; or,
  • A prototype.
Ardor is already running in production and all of its features are available to users and developers.

What can Ardor do?

Ardor's child chains can support any or all of the following features:
  • The Coin Exchange, where users can trade ARDR and child chain coins.
  • The Asset Exchange, where users can issue and trade assets.
  • The Monetary System, where users can issue tokens with a number of customizable properties.
  • The Voting System, where users can create and participate in polls.
  • The Data Cloud, where users can store the hash of a file permanently on the blockchain, and optionally, store the file itself in archival nodes.
  • The Marketplace, a decentralized platform for buying or selling goods and services.
  • Coin Shuffling, a way to obscure an account's transaction history to grant a measure of privacy.
  • The Messaging System, which allows users to send one another plaintext or encrypted messages.
  • The Alias System, a key-value store for arbitrary data.
  • Phased Transactions, which allow users to specify the conditions under which a transaction is valid. Examples include m-of-n multisig, hash- and time-locks, and votes by asset or currency holders, among many other options.
There are also many advanced features built into these systems:
  • Pay dividends to your asset holders.
  • Issue a Monetary System token to conduct an ICO, create a currency for your Dapp, designate membership in an organization, or distribute a voucher to your customers, among many other uses.
  • Combine phasing conditions with AND, OR, and NOT operators to make simple smart contracts.
  • Mark accounts with a special property, then issue an asset that only those accounts can trade.
  • Create an account that can only issue transactions approved by a specific set of other accounts.
There are far too many possibilities to list here. If you have an idea for a project that you'd like to launch on a blockchain, post about it on this sub! Chances are that there is a way to develop it quickly and securely on Ardor, and people here will be happy to help you figure out how to do it.

Why are most of those links to the Nxt wiki? I thought we were talking about Ardor.

Ardor was created by the lead developers of Nxt using much of the same source code. They originally called it Nxt 2.0, though the two platforms are completely independent and have separate blockchains. Ardor's first child chain, Ignis, supports all of Nxt's features, plus a few new ones.

There are lots of blockchain platforms out there. What makes Ardor special?

Ardor's unique parent-chain/child-chain architecture has a number of advantages compared to other blockchain platforms:
  • It scales well. Transactions involving only child chain coins do not need to be stored forever--they can be pruned away without reducing the security of the blockchain. This keeps blockchain bloat to a minimum.
  • It is modular. A large volume of transactions on one child chain does not prevent transactions on other child chains from being confirmed. Also, the transaction histories of child chains can be stored in separate sets of archival nodes, if desired. No archival node has to store everything.
  • It is flexible. Creators of child chains can pick and choose which features they would like to offer to suit their needs. They also have the option to subsidize activity on their chains, allowing users to transact without paying fees.
  • It is cohesive. Assets in the Asset Exchange, tokens in the Monetary System, and goods in the Marketplace can be listed for sale on multiple child chains, with prices denominated in each child chain's coin. A phased transaction issued on one child chain can be approved by a transaction on another child chain. And so on.

What is Ignis?

Ignis is the first child chain on Ardor and the only one to support all available features. Many projects do not need their own blockchains; these are better suited to Ignis than to a separate child chain. For some examples of what you can do with Ignis, see this article.
 

Technical FAQ

 

Why do you claim that Ardor scales so well?

On single-chain proof-of-stake platforms like Nxt, the blockchain's native coin serves two purposes: to forge, which helps secure the network; and to conduct business using the platform's features.
When a new node joins the network, it must be able to trustlessly verify that each block was forged by an eligible account. This means that it must know the forging account's balance at the time the block was forged. On Nxt, the only way to do this is to replay every transaction since the genesis block to determine the current state of account balances. All transactions must therefore be stored on the blockchain permanently.
On Ardor, these two roles--forging and utility--have been delegated to separate coins. Only the transaction history of the forging coin, ARDR, must be stored permanently, since only transactions involving ARDR affect forgers' eligibility to forge. Transactions involving only child chain coins can be safely removed without introducing any trust between new nodes joining the network (or re-syncing the blockchain) and existing nodes. This pruning mechanism dramatically reduces blockchain bloat.

Ok, so Ardor's design reduces blockchain bloat. By how much?

Up to a factor of 100. This is the number of child chain transactions that can be bundled together, hashed, and committed to the parent chain in a single ChildBlock transaction. Note that ChildBlock transactions store only the hashes of their corresponding child chain blocks.
By the way, a parent chain block can hold up to ten ChildBlock transactions. Each parent chain block therefore has a capacity of up to 1000 child chain transactions but only takes up ten transactions' worth of space on the blockchain.

Can I still see child chain transactions after they have been pruned away?

Yes, as long as there are archival nodes on that child chain. You can request the body of a child chain block from an archival node, hash it, and verify that the hash you compute matches the one stored on the blockchain. This way, you know that the archival node hasn't tampered with the contents of the block since the network validated it.

What's so special about pruning? Bitcoin and Ethereum are prunable too.

(This isn't a frequently asked question, but it should be.)
Pruning is a big deal for Ardor because Ardor is proof-of-stake. It is pretty straightforward to prune a proof-of-work blockchain, since the proof of work itself is stored in the block header, along with the hash of the body of the block. In that case, a new node only needs to validate block headers to verify that the network came to a consensus about the validity of each block at the time that it was mined.
Proof-of-stake blockchains are a different story. It is imperative to store enough of the transaction history to verify that the forger of each block had an adequate balance to be eligible to forge. This is where Ardor shines: it stores just enough information to allow nodes to validate the blockchain, but it doesn't store any of the actual business conducted on the platform, since that would needlessly bloat it.

What about computational scaling? Doesn't each node still validate every transaction?

Yes, each node validates every transaction. Ardor thus scales quite well in terms of storage, but not much better than other blockchains in terms of the computational burden on each node.
Ardor's core developers have said that they plan to remedy the computational bottleneck by delegating child chain transaction processing to separate subnets of the Ardor network. This would mean most nodes could ignore transactions from most child chains. The developers have not yet announced any details about this design, though.

Vitalik Buterin says that blockchains aren't scalable unless they're sharded.

He has a good point. But consider that Ardor's design has already achieved a partitioning of the data stored on the blockchain, since each child chain's transaction history can be stored in a separate set of archival nodes. If Ardor's developers can successfully partition the computational power required to validate transactions--by pushing transaction validation to dedicated subnets, for example--then they will have achieved a design rather similar to the "basic sharded blockchain" that Vitalik describes in the Ethereum Sharding FAQ.

What are bundlers?

Bundlers are nodes that group together transactions from a particular child chain, hash them, and commit their hash to the parent chain as a ChildBlock transaction. Bundlers collect fees denominated in the child chain coin and pay fees to forgers denominated in ARDR.

How do I run a bundler?

You can find information about how to configure a bundler on the wiki. For a detailed description of what the different configurable paramaters mean, see this article.

I only see one blockchain on the block explorein the source code. Where are the child chains?

Conceptually, it is quite appropriate to think of Ardor's child chains as multiple, independent blockchains. At a lower level, though, each child chain reduces to the following:
  • A sequence of ChildBlock transactions on the parent chain;
  • A set of account balances for the child chain coin; and,
  • Some additional data for other chain-specific features, e.g., the aliases that have been registered on the chain.
Basically, the child chains have their own data and their own histories (which can be stored in separate archival nodes, if desired), but they share forgers, nodes, the wallet, and most other aspects of a blockchain in common. You could say that they exist "within" the parent chain, rather than "alongside" the parent chain, in all aspects other than their historical data.

How do I develop a Dapp on Ardor?

You basically have two options: build your Dapp on an existing child chain, like Ignis; or create your own child chain. If you're not sure whether you need your own child chain, chances are you don't. Still, you can find some factors to consider here.
The philosophy behind Ardor differs a bit from the philosophy behind smart contract platforms. To see why, consider that smart contracts give developers a tremendous degree of flexibility, along with a thorny trilemma: it is extraordinarily difficult to write code that is simultaneously complex, immutable, and bug-free (secure).
Solutions to this trilemma include the following:
  1. Write simple, bug-free code and commit it immutably to the blockchain.
  2. Write complex code that probably contains bugs, but don't make it strictly immutable. Allow yourself to redirect your contract's responsibilities to a new, patched version if you discover a bug. You might also include a kill-switch to stop the bleeding in the case of a hack.
  3. Write complex, immutable code and pray that you haven't made any multimillion dollar mistakes. Not recommended.
Option #2 typically involves reintroducing a trusted third party--the developer--so why commit that code to the blockchain in the first place? You might as well run most of the code off-chain, and only use the blockchain for the parts of your Dapp that truly need to be trustless.
This is the approach that Ardor takes, anyway, and it is quite similar to following option #1 on a smart contract platform. The main difference is that you don't need to write the smart contracts yourself: Ardor's extensive API essentially defines a set of building blocks for you to combine in interesting ways to build your Dapp. Think of the blockchain as your program's database, and think of Ardor's API as a rich set of predefined operations on that database.
Speaking of the API, you can find documentation for it on the wiki.
 

Business FAQ

 

How do I commission a child chain on Ardor?

Contact Jelurida.

Why do I need to work with Jelurida? I thought this was decentralized.

Currently, the only way to create a new child chain is to work with Jelurida. In the future, the core developers plan to add a mechanism for users to create their own child chains automatically. They have not yet published a timeline for this feature.

Where can I go to learn more about how my business might use Ardor?

Consider contacting the Ardor and Nxt Group. One of their goals is to help foster a community of businesses that are using or interested in using Ardor and Nxt.
Also consider posting in this sub! Many of us are eager to hear about new applications of the platform and will be happy to answer your questions.
 

Investor FAQ

 

What gives ARDR value?

Demand for ARDR comes primarily from bundlers. Each child chain transaction type has a minimum fee, denominated in ARDR. The sum of these fees over all transactions in a given ChildBlock is the minimum amount of ARDR a bundler must pay a forger to include the block in the blockchain.
As the volume of transactions on a child chain grows, bundlers on that child chain must accumulate more ARDR in order to pay forgers' fees. Moreover, this effect is additive across all child chains. In other words, the more popular any of Ardor's child chains become, the greater the demand for ARDR.

Why should I trust the team?

Ardor's core developers were also the main contributers to Nxt over the last several years. Nxt has been running in production for four years without a major security incident, and it still offers more functionality than its many imitators. The team has demonstrated that they can set ambitious but realistic goals and actually deliver on them, which is more than many teams can claim.
submitted by segfaultsteve to Ardor [link] [comments]

Decentralized Serverless Computing Coming to Cosmos

In a market expected to exceed $198 billion by 2024, the leading cloud providers–Amazon Web Services (AWS), Google Cloud, and Microsoft Azure–dominate the market with 56% market share, and this figure is expected to increase. This accelerated growth is tied to increased consumer demand for throughput and content, a global surge of smartphones, rapid development of web and mobile applications, and high costs of DevOps for on-premise server management.
Current services are inflexible and come at a high recurring cost with lock-in agreements. Outside of the large incumbent providers, organizations do not have many options for cloud computing. With an estimated 85% of server capacity underutilized and accelerated global demand for cloud computing, there is a critical need for flexibility, cost management, and automation. The cloud needs to evolve to a more distributed and decentralized infrastructure for greater flexibility, efficiency, and security.
In parallel, new innovations such as serverless technology is a paradigm shift in computing, freeing developers from set-up and server management, and enabling them to manage the resources needed to run applications.
As the Cosmos hub continues to grow and attract a diverse set of developers, we see the increasing need for simplicity and flexibility that serverless computing brings and a decentralized infrastructure that supports this growth.
That’s why Akash is bringing serverless computing to Cosmos, and better enabling the builders of today and tomorrow. Akash is the world’s first peer-to-peer supercloud for serverless computing, offering developers an open, permissionless, and secure marketplace for unused compute cycles.
On Akash, anyone with a computer can become a cloud provider by offering their unused compute cycles in a safe and frictionless marketplace.
Through Akash’s platform, developers can easily and securely access cloud compute at 10x lower cost than the current market providers (AWS, Google Cloud, and Microsoft Azure). The platform achieves these benefits by integrating advanced containerization technology with a unique staking model to accelerate adoption, built on Tendermint and Cosmos.

Akash <3s Cosmos

Tendermint attracted us because of its flexibility as a library with a modular and pragmatic design. We chose to build on Tendermint because of its iteration speed and community momentum. As a Go library, it was a natural fit in our stack.
We’re drawn to innovations that enable us to iterate and deploy quickly and without friction, and that enable us to increase efficiency. We made a bet on kubernetes in 2014 and now 80% of the cloud is deployed on kubernetes. We made a bet on Cosmos SDK in 2018 and it’s exciting to see its continued rapid growth and adoption.
Our economic model is built on the foundation laid down by Cosmos. We’ve developed a serverless cloud that is the most interoperable to date. Akash serves as a gateway for developers to leverage and connect with other decentralized services, such as NuCypher for key management, Storj for cloud storage, and Handshake for domain name services, with the least amount of friction possible.
The way it works is simple:
  1. Developers define their needs in a simple contract language called SDL.
  2. They place an order on the marketplace for which the providers bid for workloads, thereby guaranteeing the lowest price possible and this pricing happens using a native token, the AKT.
Once a lease is created, deployments happen automatically and settlement happens using a multi-token mechanism – we accept different tokens for fee settlement. For example, if you use NuCypher with Akash Network, you can pay using Bitcoin and have it swapped for NU without any effort on your end.
For the Cosmos community, we provide a production-ready open-source stack for bare metal. We recently open-sourced Akash Stack, a secure, scalable, and standardized software stack for developing, delivering, and debugging decentralized networks. We are exploring future payment support for stablecoins.

The Akash Token (AKT)

The Akash Token (AKT) performs three main functions, Resolve, Reward, and Reserve:
The AKT token is used to achieve economic security, incentivize early adoption, and normalize exchange rates.
Resolve: For governance, Akash relies on a blockchain where a set of validators vote on proposals. Each proposal is weighed by the proposer’s voting power, which is the total tokens they staked and the tokens bonded to them (stakers can delegate voting power to validators).
Reward: Providers on Akash stake tokens to subsidize operating and capital expenditures. Stakers are rewarded proportional to the number of tokens staked, the length of lockup time, and the overall tokens staked in the system. Lock up times can vary anywhere from one month to one year. Flexibility in lockup encourages stakers that stake for shorter periods (bear markets), in a self-adjusting inflationary system that is designed to optimize for lower price pressure during bear markets.
Reserve: Fees on Akash can be settled using a multitude of currencies, however, the market order book uses Akash Token (AKT) as the reserve currency of the ecosystem. AKT provides a novel settlement option to lock in an exchange rate between AKT and the settlement currency. This way, providers and tenants are protected from the price volatility of AKT expected to result from its low liquidity.

The Journey Ahead

Our current focus is to partner with great validators to secure the Akash Network blockchain and to grow our community of builders and developers.
If you’re a validator, or interested in becoming one, find out how you can earn 56% APR to 176% depending on AKT’s locked up, trade factor and lockup time.
Find Out More About Akash’s Validator Program
submitted by erick_akash to akashnetwork [link] [comments]

Decred Journal — May 2018

Note: New Reddit look may not highlight links. See old look here. A copy is hosted on GitHub for better reading experience. Check it out, contains photo of the month! Also on Medium

Development

dcrd: Significant optimization in signature hash calculation, bloom filters support was removed, 2x faster startup thanks to in-memory full block index, multipeer work advancing, stronger protection against majority hashpower attacks. Additionally, code refactoring and cleanup, code and test infrastructure improvements.
In dcrd and dcrwallet developers have been experimenting with new modular dependency and versioning schemes using vgo. @orthomind is seeking feedback for his work on reproducible builds.
Decrediton: 1.2.1 bugfix release, work on SPV has started, chart additions are in progress. Further simplification of the staking process is in the pipeline (slack).
Politeia: new command line tool to interact with Politeia API, general development is ongoing. Help with testing will soon be welcome: this issue sets out a test plan, join #politeia to follow progress and participate in testing.
dcrdata: work ongoing on improved design, adding more charts and improving Insight API support.
Android: design work advancing.
Decred's own DNS seeder (dcrseeder) was released. It is written in Go and it properly supports service bit filtering, which will allow SPV nodes to find full nodes that support compact filters.
Ticket splitting service by @matheusd entered beta and demonstrated an 11-way split on mainnet. Help with testing is much appreciated, please join #ticket_splitting to participate in splits, but check this doc to learn about the risks. Reddit discussion here.
Trezor support is expected to land in their next firmware update.
Decred is now supported by Riemann, a toolbox from James Prestwich to construct transactions for many UTXO-based chains from human-readable strings.
Atomic swap with Ethereum on testnet was demonstrated at Blockspot Conference LATAM.
Two new faces were added to contributors page.
Dev activity stats for May: 238 active PRs, 195 master commits, 32,831 added and 22,280 deleted lines spread across 8 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: rapid growth from ~4,000 TH/s at the beginning of the month to ~15,000 at the end with new all time high of 17,949. Interesting dynamic in hashrate distribution across mining pools: coinmine.pl share went down from 55% to 25% while F2Pool up from 2% to 44%. [Note: as of June 6, the hashrate continues to rise and has already passed 22,000 TH/s]
Staking: 30-day average ticket price is 91.3 DCR (+0.8), stake participation is 46.9% (+0.8%) with 3.68 million DCR locked (+0.15). Min price was 85.56. On May 11 ticket price surged to 96.99, staying elevated for longer than usual after such a pump. Locked DCR peaked at 47.17%. jet_user on reddit suggested that the DCR for these tickets likely came from a miner with significant hashrate.
Nodes: there are 226 public listening and 405 normal nodes per dcred.eu. Version distribution: 45% on v1.2.0 (up from 24% last month), 39% on v1.1.2, 15% on v1.1.0 and 1% running outdaded versions.

ASICs

Obelisk team posted an update. Current hashrate estimate of DCR1 is 1200 GH/s at 500 W and may still change. The chips came back at 40% the speed of the simulated results, it is still unknown why. Batch 1 units may get delayed 1-2 weeks past June 30. See discussions on decred and on siacoin.
@SiaBillionaire estimated that 7940 DCR1 units were sold in Batches 1-5, while Lynmar13 shared his projections of DCR1 profitability (reddit).
A new Chinese miner for pre-order was noticed by our Telegram group. Woodpecker WB2 specs 1.5 TH/s at 1200 W, costs 15,000 CNY (~2,340 USD) and the initial 150 units are expected to ship on Aug 15. (pow8.comtranslated)
Another new miner is iBelink DSM6T: 6 TH/s at 2100 W costing $6,300 (ibelink.co). Shipping starts from June 5. Some concerns and links were posted in these two threads.

Integrations

A new mining pool is available now: altpool.net. It uses PPLNS model and takes 1% fee.
Another infrastructure addition is tokensmart.io, a newly audited stake pool with 0.8% fee. There are a total of 14 stake pools now.
Exchange integrations:
OpenBazaar released an update that allows one to trade cryptocurrencies, including DCR.
@i2Rav from i2trading is now offering two sided OTC market liquidity on DCUSD in #trading channel.
Paytomat, payments solution for point of sale and e-commerce, integrated Decred. (missed in April issue)
CoinPayments, a payment processor supporting Decred, developed an integration with @Shopify that allows connected merchants to accept cryptocurrencies in exchange for goods.

Adoption

New merchants:
An update from VotoLegal:
michae2xl: Voto Legal: CEO Thiago Rondon of Appcívico, has already been contacted by 800 politicians and negotiations have started with four pre-candidates for the presidency (slack, source tweet)
Blockfolio rolled out Signal Beta with Decred in the list. Users who own or watch a coin will automatically receive updates pushed by project teams. Nice to see this Journal made it to the screenshot!
Placeholder Ventures announced that Decred is their first public investment. Their Investment Thesis is a clear and well researched overview of Decred. Among other great points it noted the less obvious benefit of not doing an ICO:
By choosing not to pre-sell coins to speculators, the financial rewards from Decred’s growth most favor those who work for the network.
Alex Evans, a cryptoeconomics researcher who recently joined Placeholder, posted his 13-page Decred Network Analysis.

Marketing

@Dustorf published March–April survey results (pdf). It analyzes 166 responses and has lots of interesting data. Just an example:
"I own DECRED because I saw a YouTube video with DECRED Jesus and after seeing it I was sold."
May targeted advertising report released. Reach @timhebel for full version.
PiedPiperCoin hired our advisors.
More creative promos by @jackliv3r: Contributing, Stake Now, The Splitting, Forbidden Exchange, Atomic Swaps.
Reminder: Stakey has his own Twitter account where he tweets about his antics and pours scorn on the holders of expired tickets.
"Autonomy" coin sculpture is available at sigmasixdesign.com.

Events

BitConf in Sao Paulo, Brazil. Jake Yocom-Piatt presented "Decentralized Central Banking". Note the mini stakey on one of the photos. (articletranslated, photos: 1 2 album)
Wicked Crypto Meetup in Warsaw, Poland. (video, photos: 1 2)
Decred Polska Meetup in Katowice, Poland. First known Decred Cake. (photos: 1 2)
Austin Hispanic Hackers Meetup in Austin, USA.
Consensus 2018 in New York, USA. See videos in the Media section. Select photos: booth, escort, crew, moon boots, giant stakey. Many other photos and mentions were posted on Twitter. One tweet summarized Decred pretty well:
One project that stands out at #Consensus2018 is @decredproject. Not annoying. Real tech. Humble team. #BUIDL is strong with them. (@PallerJohn)
Token Summit in New York, USA. @cburniske and @jmonegro from Placeholder talked "Governance and Cryptoeconomics" and spoke highly of Decred. (twitter coverage: 1 2, video, video (from 32 min))
Campus Party in Bahia, Brazil. João Ferreira aka @girino and Gabriel @Rhama were introducing Decred, talking about governance and teaching to perform atomic swaps. (photos)
Decred was introduced to the delegates from Shanghai's Caohejing Hi-Tech Park, organized by @ybfventures.
Second Decred meetup in Hangzhou, China. (photos)
Madison Blockchain in Madison, USA. "Lots of in-depth questions. The Q&A lasted longer than the presentation!". (photo)
Blockspot Conference Latam in Sao Paulo, Brazil. (photos: 1, 2)
Upcoming events:
There is a community initiative by @vj to organize information related to events in a repository. Jump in #event_planning channel to contribute.

Media

Decred scored B (top 3) in Weiss Ratings and A- (top 8) in Darpal Rating.
Chinese institute is developing another rating system for blockchains. First round included Decred (translated). Upon release Decred ranked 26. For context, Bitcoin ranked 13.
Articles:
Audios:
Videos:

Community Discussions

Community stats: Twitter 39,118 (+742), Reddit 8,167 (+277), Slack 5,658 (+160). Difference is between May 5 and May 31.
Reddit highlights: transparent up/down voting on Politeia, combining LN and atomic swaps, minimum viable superorganism, the controversial debate on Decred contractor model (people wondered about true motives behind the thread), tx size and fees discussion, hard moderation case, impact of ASICs on price, another "Why Decred?" thread with another excellent pitch by solar, fee analysis showing how ticket price algorithm change was controversial with ~100x cut in miner profits, impact of ticket splitting on ticket price, recommendations on promoting Decred, security against double spends and custom voting policies.
@R3VoLuT1OneR posted a preview of a proposal from his company for Decred to offer scholarships for students.
dcrtrader gained a couple of new moderators, weekly automatic threads were reconfigured to monthly and empty threads were removed. Currently most trading talk happens on #trading and some leaks to decred. A separate trading sub offers some advantages: unlimited trading talk, broad range of allowed topics, free speech and transparent moderation, in addition to standard reddit threaded discussion, permanent history and search.
Forum: potential social attacks on Decred.
Slack: the #governance channel created last month has seen many intelligent conversations on topics including: finite attention of decision makers, why stakeholders can make good decisions (opposed to a common narrative than only developers are capable of making good decisions), proposal funding and contractor pre-qualification, Cardano and Dash treasuries, quadratic voting, equality of outcome vs equality of opportunity, and much more.
One particularly important issue being discussed is the growing number of posts arguing that on-chain governance and coin voting is bad. Just a few examples from Twitter: Decred is solving an imagined problem (decent response by @jm_buirski), we convince ourselves that we need governance and ticket price algo vote was not controversial, on-chain governance hurts node operators and it is too early for it, it robs node operators of their role, crypto risks being captured by the wealthy, it is a huge threat to the whole public blockchain space, coin holders should not own the blockchain.
Some responses were posted here and here on Twitter, as well as this article by Noah Pierau.

Markets

The month of May has seen Decred earn some much deserved attention in the markets. DCR started the month around 0.009 BTC and finished around 0.0125 with interim high of 0.0165 on Bittrex. In USD terms it started around $81 and finished around $92, temporarily rising to $118. During a period in which most altcoins suffered, Decred has performed well; rising from rank #45 to #30 on Coinmarketcap.
The addition of a much awaited KRW pair on Upbit saw the price briefly double on some exchanges. This pair opens up direct DCR to fiat trading in one of the largest cryptocurrency markets in the world.
An update from @i2Rav:
We have begun trading DCR in large volume daily. The interest around DCR has really started to grow in terms of OTC quote requests. More and more customers are asking about trading it.
Like in previous month, Decred scores high by "% down from ATH" indicator being #2 on onchainfx as of June 6.

Relevant External

David Vorick (@taek) published lots of insights into the world of ASIC manufacturing (reddit). Bitmain replied.
Bitmain released an ASIC for Equihash (archived), an algorithm thought to be somewhat ASIC-resistant 2 years ago.
Three pure PoW coins were attacked this month, one attempting to be ASIC resistant. This shows the importance of Decred's PoS layer that exerts control over miners and allows Decred to welcome ASIC miners for more PoW security without sacrificing sovereignty to them.
Upbit was raided over suspected fraud and put under investigation. Following news reported no illicit activity was found and suggested and raid was premature and damaged trust in local exchanges.
Circle, the new owner of Poloniex, announced a USD-backed stablecoin and Bitmain partnership. The plan is to make USDC available as a primary market on Poloniex. More details in the FAQ.
Poloniex announced lower trading fees.
Bittrex plans to offer USD trading pairs.
@sumiflow made good progress on correcting Decred market cap on several sites:
speaking of market cap, I got it corrected on coingecko, cryptocompare, and worldcoinindex onchainfx, livecoinwatch, and cryptoindex.co said they would update it about a month ago but haven't yet I messaged coinlib.io today but haven't got a response yet coinmarketcap refused to correct it until they can verify certain funds have moved from dev wallets which is most likely forever unknowable (slack)

About This Issue

Some source links point to Slack messages. Although Slack hides history older than ~5 days, you can read individual messages if you paste the message link into chat with yourself. Digging the full conversation is hard but possible. The history of all channels bridged to Matrix is saved in Matrix. Therefore it is possible to dig history in Matrix if you know the timestamp of the first message. Slack links encode the timestamp: https://decred.slack.com/archives/C5H9Z63AA/p1525528370000062 => 1525528370 => 2018-05-05 13:52:50.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Your feedback is precious. You can post on GitHub, comment on Reddit or message us in #writers_room channel.
Credits (Slack names, alphabetical order): bee, Richard-Red, snr01 and solar.
submitted by jet_user to decred [link] [comments]

Ethereum Enterprise Alliance Live Updates MegaThread

Welcome to the MegaThread for the Ethereum Enterprise Alliance! The live stream will begin at 9:00 am EST or 14:00 UTC.
Use this thread as a forum for discussion, announcements, and conversation regarding the live stream. It will serve as a handy place for people to both read updates, as well as discuss them.
I will be updating the main thread with updates as they happen and the time they happened. Please bear with me. Feel free to add a comment with any updates that I miss. Thank you to flowcrypt for concurrent updates.
Please see flowcrypt comment below for summary. I will post the summary here at the conclusion of the event.
Jeremy Millar (EEA Board Member)
In the longterm, the only difference between a public or private blockchain would be comparable to a firewall configuration
Andrew Keys (ConsenSys)
Vitalik
Let's work together and build great things!
Joe Lubin (ConsenSys)
We launched Ethereum before there was an ecosystem. It felt like we were building the Xbox without any games.
Marles Gray (Microsoft)
This is the tip of the iceberg.
Sandra Ro (CME, derivatives exchange)
We need to collaborate more, not less.
Matt Spooke
There is a need for these different perspectives. We need each other.
Amber Baldet (Moderator, JP Morgan):
There is a long way to go. Having access to the people of the core technical community, is crucial for this.
Tyrone Lobban (JP Morgan) - talking about Quorum
Privacy with data integrity
Quorum demo (JP Morgan, Santander, Microsoft)
Demonstrating private transactions between banks
Bob Summerwill (ConsenSys, Lead Architect)
Build roadmap to EntEth 2.0 in 2017
Ethan Buchman (Tendermint)
Standard ethereum needs tweaks to work in an enterprise setting
John Whelan (Santander)
We want to take the cool things we are doing in the lab, into production.
Shahan Khatchadourian (ConsenSys, Lead Architect)
Privacy is a key component (for legal and regulatory compliancy)
Yorke Rhodes (Microsoft)
The last two years have been really interesting
Julio Faura Enriquez (Banco Santander):
We first tried to modify stock Ethereum (by reducing difficulty and gas price) but ran into roadblocks. Then, we switched to Quorum and joined the Enterprise Ethereum Alliance.
Vivek Kohli (BNY Mellon)
The technology is driving collaboration
Toon Leijtens (ING, Dutch Bank)
Patrick Schmidt (Insurance industry)
The insurance industry is looking for ways to reduce costs.
Ramesh Babu
The planned schedule is as follows:
Time Event
08:00 Registration & Breakfast
09:00 Introduction to Enterprise Ethereum Alliance
Jeremy Millar, Founding Board Member, EEA
10:00 Introduction to Enterprise Ethereum Alliance
Vitalik Buterin, Inventor & Chief Scientist, Ethereum Foundation
10:30 EEA: AMA (Ask Me Anything)
Vitalik Buterin, Inventor & Chief Scientist, Ethereum Foundation
Andrew Keys, Global Head of Business Development, ConsenSys
Jeremy Millar, Founding Board Member, EEA
11:00 Panel: Enterprise Ethereum Alliance - Launch Member Perspective
Moderator: Amber Baldet, Blockchain Program Lead, J.P. Morgan
Marley Gray, Blockchain Principal Program Manager, Microsoft
Joe Lubin, Founder & CEO, ConsenSys
Sandra Ro, Head of Digitization, CME
Matthew Spoke, CEO, Nuco
David Treat, Blockchain Lead, Accenture
12:00 Lunch
01:00 Demonstrations: Ethereum in Action - Financial Applications
Tyrone Lobban & Samer Falah, Blockchain Center of Excellence, J.P. Morgan
John Whelan, Director of Innovation, Santander
01:20 Panel: Ethereum for Finance
Moderator: Lex Sokolin, Global Director of FinTech Strategy, Autonomous Research
Ramesh Babu, Blockchain Practice Head, Wipro
Julio Faura Enriquez, Head of R&D, Innovation Division, Santander
Vivek Kohli, Director, Treasury Services Emerging Payments Technology Head, BNY Mellon
Toon Leijtens, Senior Architect & Developer, ING
Elizabeth Polanco Aquino, Blockchain Center of Excellence, J.P. Morgan
Patrick Schmid, AVP Enterprise Research, The Institutes
02:00 Presentation: EEA Technical Roadmap
Shahan Khatchadourian & Bob Summerwill, Lead Architects, ConsenSys
02:20 Panel: Why We’re Doing What We’re Doing with Ent.Eth 1.0
Moderator: Yorke Rhodes, Blockchain Business Strategist, Microsoft
Heiko Hees, CEO & Co-Founder, BrainBot
Shahan Khatchadourian, Lead Architect, ConsenSys
Bob Summerwill, Lead Architect, ConsenSys
John Whelan, Director of Innovation, Santander
03:00 Panel: How Startups Can Help Ent.Eth 1.0
Moderator: Yorke Rhodes, Blockchain Business Strategist, Microsoft
Phil Daian, Researcher, IC3
Kieren James-Lubin, CPO & Co-Founder, BlockApps
Jan Scheufen, Head of Product, Monax
Eran Tromer, Founding Scientist, Zcash
Dominic Williams, President & CTO, String Labs
03:40 Coffee Break
04:00 Demonstration: Ethereum for Industry Today
Maksym Petkus, Blockchain Engineer, Chronicled
04:15 Panel: Ethereum for Industry
Moderator: Andrew Keys, Global Head of Business Development, ConsenSys
Dan Doles, CEO, Mojix
Jared Harwayne-Gidansky, Deputy Global Head of Emerging Business & Technology, BNY Mellon
Maksym Petkus, Blockchain Engineer, Chronicled
Subhankar Sinha, Director, PwC
David Sutter, COO, Hijro
04:50 Thank You and Call to Action
Jeremy Millar, Founding Board Member, EEA
05:00 Reception
submitted by sepetoner to ethereum [link] [comments]

Cosmos — an early in-depth analysis at the ecosystem of connected blockchains — Part One

Cosmos — an early in-depth analysis at the ecosystem of connected blockchains — Part One
This is part one of three articles where i will discuss what i have learnt whilst looking into Cosmos. I will provide links throughout the article to provide reference to sections as well as a list of sources at the bottom of the article for you to look into specific areas in more detail if required. Hopefully it will be useful for those interested in learning more about the project.
Cosmos is still very early in development process with components such as IBC which connects two blockchains together currently in research / specification stage, as a result can change by the time its released.

What is Cosmos?

Cosmos is a network and a framework for interoperability between blockchains. The zones are powered by Tendermint Core, which provides a high-performance, consistent, secure PBFT-like consensus engine, where strict fork-accountabilityguarantees hold over the behaviour of malicious actors. Cosmos is not a product but an ecosystem built on a set of modular, adaptable and interchangeable tools.
In Tendermint, consensus nodes go through a multi-round voting proposal process first before coming to consensus on the contents of a block. When 2/3 of those nodes decide on a block, then they run it through the state transition logic providing instant finality. In current proof of work consensus for Ethereum, the consensus process is inverted, where miners pick the transactions to include in a block, run state updates, then do “work” to try and mine the block.
Tendermint BFT can handle up to thousands of transactions per second (depending on the number of validators). However, this only takes into account the consensus part, the application layer is the limiting factor though. Ethermint (described below) has achieved up to 200 tps to give you an idea of the speed available per blockchain which is significantly more than current versions of Ethereum and Bitcoin etc.
The Tendermint consensus is used in a wide variety of projects, some of the most notable include Binance Chain, Hyperledger Burrow. It’s important to note though that just using Tendermint consensus doesn’t mean they can connect to other chains with the cosmos ecosystem, they would need to fork their code to implement IBC as a native protocol to allow interoperability through IBC.

see https://raw.githubusercontent.com/devcorn/hackatom/mastetminfo.pdf for high res

The Tendermint consensus algorithm follows a traditional approach which relies on all validators to communicate with one another to reach consensus. Because of the communication overhead, it does not scale to 1000s of validators like Bitcoin or Ethereum, which can have an unlimited number of validators. Tendermint works when there are 100s of validators. (Cosmos Hub currently has a maximum of 100 validators and the maximum tested so far with Tendermint is 180 validators)
Therefore, one of the downsides of a blockchain built using Tendermint is that, unlike Bitcoin or Ethereum, it requires the validators to be known ahead of time and doesn’t allow for miners to come and go as they please.Besides this, it also requires the system to maintain some notion of time, which is known to be a complex problem in theory. Although in practice, Tendermint has proven this can be done reasonably well if you use the timestamp aggregates of each node.
In this regard, one could argue that Tendermint consensus protocol is “less decentralized” than Bitcoin because there are fewer validators, and they must be known ahead of time.
Tendermint’s protocol guarantees safety and liveness, assuming more than 2/3 of the validators’ voting power is not Byzantine (i.e., malicious). In other words, if less than 1/3 of the network voting power is Byzantine, the protocol can guarantee safety and liveness (i.e., validators will never commit conflicting blocks at the same height and the blockchain continues to make progress).https://www.preethikasireddy.com/posts/how-does-cosmos-work-part1
To see the process of how Tendermint works please see this diagram as well as more info here

Sovereignty

Cosmos goal is to provide sovereignty through governance to developers by making it easy to build blockchains via the Cosmos SDK and provide interoperability between them, using Tendermint consensus. This is their main differentiator compared to competition like Polkadot and Ethereum 2.0. Ethereum 2.0 and Polkadot are taking a different approach by only using shared security, where there is a root chain which controls the security / prevents double spending for all connected blockchains.
Governance is where all stakers vote on proposals to determine what changes are implemented in the future for their own blockchain, stakers can either choose to delegate their vote to the validator or they can instead vote directly. Without sovereignty all DAPPs share the same underlying environment. If an application requires a new feature in the EVM it has to rely entirely on the governance of the Ethereum Platform to accept it for example. However, there are also tradeoffs to having sovereignty as each zone is going to need a way to incentivise others to validate / create blocks on the Zone by running Full Nodes. Whilst it may be easy to create a blockchain using the cosmos SDK and to mint a token, there are the legal costs / regulation associated with creating your own token. How are you going to distribute the tokens? How are you going to list them on exchanges? How are you going to incentivise others to use the token without being classed as a security? All of which have led to a significant reduction in the number of ICOs being done. With every zone needing their own validator set, there’s going to be a huge number of validators required each trying to persuade them to validate their zone with only a finite number of validators available.
Each Zone / App is essentially a mini DAO and not all are going to be comfortable about having their project progress been taken out of their hands and instead relying on the community to best decide on the future (unless they control 2/3 of the tokens). The Cosmos Hub has proved this can be successful, but others may be risk averse to having their application be a mini DAO. Should someone / competitor acquire 1/3 of the tokens of a zone then they could potentially prevent any further progress being made by rejecting all governance votes (this would be very costly to do on the Cosmos Hub due to its high amount staked, but for all the other less secure zones this potentially may be an issue).
Security for some zones will likely be a lot lower with every developer needing to validate their own blockchain and tokenise them with POS with no easy way to validate the setup of a validator to ensure its secure. Whilst the Cosmos hub is very secure with its current value staked, how secure zone’s will be with significantly less staked remains to be seen. Whilst providing soverignty was Cosmos’s main goal from the start, they are also looking at being able to provide shared security by having validators of a connected Hub also validate /create new blocks on the connected zone’s blockchain for them as well. They are still going to need some way to incentivise the validators to this. Another option is if the developers didn’t want to create a token, nor want sovereignty etc, then they could just build a DAPP on the EVM on a zone such as Ethermint.
As can be seen their are potential advantages and disadvantages to each method, but rather than forcing shared security like Ethereum and Polkadot, Cosmos is giving the developer the choice so will be interesting to see which they prefer to go for.

Layers of a blockchain

From an architecture standpoint, each blockchain can be divided into three conceptual layers:
  • Application: Responsible for updating the state given a set of transactions, i.e. processing transactions.
  • Networking: Responsible for the propagation of transactions and consensus-related messages.
  • Consensus: Enables nodes to agree on the current state of the system.
The state machine is the same as the application layer. It defines the state of the application and the state-transition functions. The other layers are responsible for replicating the state machine on all the nodes that connect to the network.
The Cosmos SDK is a generalized framework that simplifies the process of building secure blockchain applications on top of Tendermint BFT. The goal of the Cosmos SDK is to create an ecosystem of modules that allows developers to easily spin up application-specific blockchains without having to code each bit of functionality of their application from scratch. Anyone can create a module for the Cosmos SDK and using ready built modules in your blockchain is as simple as importing them into your application.
The Tendermint BFT engine is connected to the application by a socket protocol called the Application Blockchain Interface (ABCI). This protocol can be wrapped in any programming language, making it possible for developers to choose a language that fits their needs.

https://preview.redd.it/go1bgareiba31.png?width=770&format=png&auto=webp&s=c9a2c9faa9c99dd8c7a7b6925c7ea281e203eb47

Hub and Spoke Topology

Cosmos follows a hub and spoke topology as its not feasible to connect every zone together. If you were to connect every blockchain together the number of connections in the network would grow quadratically with the number of zones. So, if there are 100 zones in the network then that would equal 4950 connections.
Zones are regular heterogenous blockchains and Hubs are blockchains specifically designed to connect Zones together. When a Zone creates an IBC connection with a Hub, it can automatically access (i.e. send to and receive from) every other Zone that is connected to it. As a result, each Zone only needs to establish a limited number of connections with a restricted set of Hubs. Hubs also prevent double spending among Zones. This means that when a Zone receives a token from a Hub, it only needs to trust the origin Zone of this token and each of the Hubs in its path. Hubs do not verify or execute transactions committed on other zones, so it is the responsibility of users to send tokens to zones that they trust.
There will be many Hubs within Cosmos network the first Hub to launch was the Cosmos Hub whose native staking token is called ATOM. ATOM tokens are specific to just the Cosmos Hub which is one hub of many, each with their own token. Transaction fees for the Cosmos Hub will be payable in multiple tokens so not just ATOMs whereas other Hubs such as IRIS has made it so that all transaction fees are paid in IRIS for transactions on its hub.
As mentioned, the Cosmos Hub is one of many hubs in the network and currently has a staking ratio of around 70% with its token ATOM having a market cap of just over $800 million. IRISnet was the second Hub to launch which currently has around 28% bonded with its token IRIS which has a market cap of just under $17 million. The Third Hub about to be launched later this month has its token SENT which has a market cap of around $3.4 million. As you can see the security of these 3 hubs differ wildly and as more and more hubs and then zones are brought online there is going to need to be a lot of tokens / incentivisation for validators.

Ethermint

Standard Cosmos zones / hubs don’t have smart contract functionality and so to enable this, as the Application layer is abstracted from the consensus layer via ABCI API described earlier, it allows Cosmos to port the code over from other blockchains such as Ethereum and use it with the Tendermint Consensus to provide access to the Ethereum Virtual Machine. This is what is called Ethermint.
This allows developers to connect their zones to specialised zones such as Ethermint to build and run smart contracts based on Solidity, whilst benefiting from the faster performance of the tendermint Conensus over the existing POW implementation currently. Whereas a normal Go Ethereum process runs at ~12.5 transactions per second (TPS), Ethermint caps out at 200 TPS. This is a comparison against existing Ethereum speeds, whilst obviously Ethereum are working on their own scaling solutions with Ethereum 2.0 which will likely be ready around the same time. Existing tools / dapps used on ethereum should easily be able to be ported over to Ethermint by the developer if required.
In addition to vertical scaling (with the increase in tps by using Tendermint consensus), it can also have multiple parallel chains running the same application and operated by a common validator set. So if 1 Ethermint zone caps out at 200 TPS then 4 Ethermint zones running in parallel would theoretically cap out at 800 TPS for example.

https://preview.redd.it/oboyonufiba31.png?width=554&format=png&auto=webp&s=18560aa44596fc2357590b54ddb39fd8ee1c8783
There is a huge number of developers / apps currently built on Ethereum, should a developer choose to migrate their DAPP over to Ethermint they would lose native compatibility with those on Ethereum (except through Peg Zone), but would gain compatibility with those running on Ethermint and others in the cosmos ecosystem.
You can find out more about Ethermint here and here
IBC
IBC stands for inter-blockchain communication protocol and is an end-to-end, connection-oriented, stateful protocol for reliable, ordered, authenticated communication between modules on separate distributed ledgers. Ledgers hosting IBC must provide a certain set of functions for consensus transcript verification and cryptographic commitment proof generation, and IBC packet relayers (off-chain processes) are expected to have access to network protocols and physical datalinks as required to read the state of one ledger and submit data to another.
In the IBC architecture, modules are not directly sending messages to each other over networking infrastructure, but rather creating messages to be sent which are then physically relayed via “Relayers”. “Relayers” run off-chain and continuously scan the state of each ledger via a light client connected to each of the 2 chains and can also execute transactions on another ledger when outgoing datagrams have been committed. For correct operation and progress in a connection between two ledgers, IBC requires only that at least one correct and live relayer process exists which can relay between the ledgers. Relays will need to be incentivised to perform this task (the method to which hasn’t been established as of this writing)
The relay process must have access to accounts on both chains with sufficient balance to pay for transaction fees. Relayers may employ application-level methods to recoup these fees, such by including a small payment to themselves in the packet data. More information on Relayers can be found here

https://preview.redd.it/twjzlc8hiba31.png?width=1100&format=png&auto=webp&s=2e546142573b61af031e27dac83ddca675a4b693
A high-level overview of the process is that Zone 1 commits an outbound message on its blockchan about sending say 1 x Token A to Hub1 and puts 1 x Token A in escrow. Consensus is reached in Zone 1, and then it’s passed to the IBC module to create a packet which contains the reference to the committed block, source and destination channel/ connection and timeout details and is added to Zone 1’s outbound queue as proof.
All relayers (who run off-chain) are continuously monitoring the state of Zone 1 via the Zone 1 light client. A Relayer such as Relayer 1 is chosen and submits a proof to Hub1 that Zone 1.
Hub 1 then sends a receipt as proof that it has received the message from Zone 1, relayer1 sends it to Zone 1. Zone 1 then removes it from its outbound queue and sends proof via another receipt to Hub1. Hub1 verifies the proof and mints the token.

https://preview.redd.it/d4dclm3iiba31.png?width=770&format=png&auto=webp&s=9ca521efc8580800067e1c4e3f74c0ab8df30555
This video below explains the process in more detail as well as covers some of the other points i raise later in this article so worth a watch (time stamped from 22:24 to 32:25) and also here from 38:53 to 42:50
https://youtu.be/5h8DXul4lH0?t=1344

Whilst there is an option for UDP style transfer where a zone will send a message to a Hub and it doesn’t care whether it gets there or in any order etc, Token transfers are going to require the TCP style connections in IBC where there is a send, receipt and then another receipt as explained above. Each Send, receipt followed by another receipt is going to take at least 2 blocks and so using Cosmos Hub block times as an example with 6.88 second block times a transfer between one zone and hub could take a minimum of 41.28 seconds. You also then have to factor in the amount of other transactions going through those at that time and relevant gas price to see whether it is able to use 2 consecutive blocks or whether it may take more. This is also explained in this video “ILP Summit 2019 | Cosmos and Interledger | Sunny Aggarwal” (time stamped) from to 12:50 to 15:45

In Part Two we will look at potential issues with multi hop routing, token transfers across multiple routes and Peg Zones, whilst also looking at other interoperability solutions that would resolve some of these issues and compliment the cosmos ecosystem. Part Two can be found here
submitted by xSeq22x to CryptoCurrency [link] [comments]

Slack log of AIP19 discussion - 16-08-18

Please find below the slack log for discussion relating AIP19 as presented here https://github.com/ArkEcosystem/AIPs/issues/26
I will try to write a blog post explaining in further detail the AIP19 for non-technical individuals however due to current obligations it will be delayed and finish some time in September.
------------------------------------------------------------------------------------------
Matthew_DC [3:43 PM]
I think AIP 18/19 has some merit and I had a chance to look at it before he published. He gave Francois and I a chance to review the idea as he was hesitant to post it publicly in fear that a competitor might steal it, which I can appreciate. There are a lot of things in there that I find interesting. The proposal in AIP18 makes a lot of sense and would solidify the price discovery and help create a streamlined system for the wallet for token swaps. We can make it intuitive and easy to use. The AIP19 proposal is where I think we all need to slow down and seriously consider both the impact it would have on ARK and what ARK is trying to accomplish, as well as the complications that might arise from the system. For starters, AIP19 turns ARK into a decentralized delegate services network. In other words, Consensus-As-A-Service (CAAS). This is something we actually discussed at Crypti and had a model for, which I believe Lisk is still planning on implementing. That model looks very similar to what Komodo has already tried to implement in regards to storing data on the main chain (hashes) relevant to the sidechain as an added security layer. I'm not sure that solution is the best model and I think there is a major problem that needs solved, which AIP19 is partially trying to address. That problem is the security of early stage bridge chains who have yet to build a strong following. Finding a way to use the "hash power", or in this case, vote based security, of the main chain, is something I've been very interested in and would love to find a proper solution for. What needs to be considered is the impact that the system has on up-time and reliability of the network (for starters). Let's say I'm an attacker and I want to just really hose up the works. If I create a script that moves large chunks of voting wait all over the place consistently for multiple blocks or rounds, how will that impact the delegates assignments, will they all switch to the appropriate network in time, will blocks be missed as the transition occurs, etc. Consider that every 1-2 cent change in price could drastically move delegates between networks and if you couple that with voter swings, you are looking at a lot of moving parts. For all of that complexity, what added security do you really gain? New bridge chains will still be very low on the list for delegates due to price which makes them easy targets. However, for an attacker, it would potentially randomize the order of delegates to a point where it would make it very hard to put yourself in position to take over a network which would add a lot of difficulty to an attack. To try and gauge exactly the amount of votes, the price of the token, and what 27 spots you would need to control would be almost impossible.
The complicated part would be smoothing out the delegate transitions in a way that doesn't cause total constant chaos among delegates as votes, prices, and registrations are constantly changing. Imagine 5 years from now if there are 100 bridge chains, some with 101 delegates, some with 501, some with 51, etc. What if someone comes in and registers a network with 1,000,000,000 delegates, does it shut down the system? How does it react? There are a lot of things like that which have to be considered before you can move forward with something like this.
I'm not saying it's a bad idea and I think it's a really intriguing use of the system, especially for DPoS, but there is a lot that has to be mapped out.
You can't just start coding it and hope for the best.
cj (azek) [3:55 PM]
@Matthew_DC ++
Matthew_DC [4:12 PM]
On a side note, I think that the CAAS model fits directly with the desire to have the ARK core technology power startups and enterprises blockchain solutions while providing a strong avenue for the public decentralized applications to take hold and grow. By keying their consensus and security into one main chain, it does provide added security and allow for a use case other than "currency" for the main net, but it does do it at the cost of some decentralization. Part of why ARK is being developed to allow bridged but separate chains is to avoid one central point of failure (the point of all of this). By making so many systems globally dependent on the ARK main chain for their consensus mechanism to function, you do sacrifice decentralization for security in this case. If the ARK network were to end up with a critical bug or suffer from some kind of attack, etc, it could cause all subsequent reliant network to stop forging as well. This is something we are always thinking about.
vdeurzen (blockport) [4:20 PM]
joined #trading_altcoins.
bangomatic [4:23 PM]
order books finally on Delta.
:allthethings:
Jarunik [4:38 PM]
For AIP18 I have my doubts concerning price finding. Free market will likely beat a stable coin formula. I would rather see each token valued individually. Didn‘t analyse the formulas in detail but looks like a weak point. A market based pricing would be more interesting.
Blazeron [4:39 PM]
why wouldn't it just use the market value automatically?
Jarunik [4:39 PM]
Because there is none
Check persona as example
Whats the Ark-Prs market rate?
tk0n (thefoundry) [4:43 PM]
price is also susceptible to manipulation
bangomatic [4:43 PM]
polymath making some BIG announcements today. www.twitter.com/polymathnetwork
Blazeron [4:48 PM]
hmm true, it wouldn't work with very small tokens that aren't widely listed
Matthew_DC [5:11 PM]
That's the same problem you have right now with any exchange. There are hundreds of tokens you could spike by 200% in 5 mins for like $200
The point isn't whether or not all of his math is perfect or whether or not his formula is even the one that gets used, its about whether or not it is a good idea to create "liquidity gates" for atomic swaps and separately, should they be used for price discovery
even if an AIP isn't taken and implemented wholesale, it may provide value through some of the ideas involved
Obviously, the system he proposes in AIP19 doesn't work without proper price discovery and some kind of oracle
Keep in mind, he specifically proposes a stable coin formula as an example as well as an exponential priced ICO token wherein the creator would be using it as a system to fund an ICO, but that doesn't mean you wouldn't have free market price discovery through some form of order book function.
pieface [5:19 PM]
Would AIP19 deem the ArkVM chain as not needed anymore?
Matthew_DC [5:20 PM]
To avoid major shuffling issues it almost makes sense to have a superblock either every round or x number of rounds with a longer block time to allow the delegate system to perform averages on price/position of bridge chains for delegate assignment and allow a longer period of adjustment
pieface [5:20 PM]
One of the benefits of the ArkVM chain is that you don't have to find delegates to run your chain, AIP19 sounds like it solves the same problem in a different way
Matthew_DC [5:21 PM]
It would be a completely separate consideration from VM and VM would still be something we want/need
Jarunik [5:22 PM]
If we need super blocks ... then it will slow down the mainnet the more sidechains we have. Wouldn't it be better to use decentralized ACES?
Matthew_DC [5:25 PM]
You could probably do it with 1 longer block at the end of each round to allow time for the shuffling. So one longer block every 7 mins or so. That's just a random thought and is something that would have to be tested. In some sense, this system IS ACES, just upgraded to take into account the added features of v2/AIP11 like webhooks, multi-sig, time locks, etc
just re-organized into a dex with some form of order book and then used for price discovery
Jarunik [5:26 PM]
yes ... but it should run outside of the Ark mainnet and just connect to it
Matthew_DC [5:26 PM]
Well, like I said above, in his proposal, you exchange decentralization for security/valuation
Which is one of the considerations (edited)
It's the same argument we've been having all along
brodinson [5:27 PM]
I'd like some extra security and valuation :evil:
Matthew_DC [5:27 PM]
Do you potentially sacrifice principal for token valuation?
Security would be for bridge chains
Jarunik [5:28 PM]
it will increase the risk for the main chain ...
brodinson [5:28 PM]
That's fine too right
Matthew_DC [5:28 PM]
At some point, you have to ask are you just recreating the current financial system with you as the central bank
brodinson [5:28 PM]
I mean ark being an ecosystem and all
Want all that good security stuffs for the bridgechains
Jarunik [5:29 PM]
I am against Ark being the "master" chain. :slightly_smiling_face:
brodinson [5:29 PM]
Also extra reasons for a higher valuation can only attract more investors and thus more attention.
Matthew_DC [5:29 PM]
The more bridge chains that rely on the ARK main chain for security and in order for their applications to work, the more you risk incentivizing collusion and extortion by the delegates and increase their personal power over people's money (edited)
Jarunik [5:30 PM]
If you do something directly for "high valuation" ... then you will take that profit from someone else ...
Who will lose ?
brodinson [5:30 PM]
Find countermeasures to possible collusion?
Jarunik [5:30 PM]
Unlikely to work.
brodinson [5:30 PM]
Maybe some random factors?
Jarunik [5:30 PM]
Power corrupts
Matthew_DC [5:30 PM]
I mean, at the end of the day, what he is suggesting, and what AIP19 boils down to, is turning the ARK Main Chain into a decentralized Delegate Marketplace for ARK Bridge Chains.
It's a pivot for the purpose of the main chain for sure.
Jarunik [5:31 PM]
And my point is that a bridgechain not good enough to create a delegate incentive and market is not good enough anyway.
Matthew_DC [5:32 PM]
The delegate marketplace was always meant to be a completely open free market system where people could find delegates for their bridge chains and make offers/promote their chains, but never force tie-in to the ARK main chain and 100% exclusively rely on it for security and validation.
Jarunik [5:32 PM]
If the bridge chain does offer utility and functionality ... then it will be no problem to pay the delegates.
Matthew_DC [5:33 PM]
He doesn't shy away from it in the proposal and outright says that a large motivating factor for the proposal is to create valuation for the ARK token and a use case.
Jarunik [5:33 PM]
So this kind of ark mainchain market place sounds like a concept to push up "unhealthy" sidechains for higher valuation (similar like shittokens of eth)
spghtzzz(ark.party is not a website) [5:33 PM]
ARK already has those
Matthew_DC [5:34 PM]
If it were me personally and only me and I wasn't relying on the ARK token to make me rich and I could make decisions based on my fundamentals and what was right in staying true to the nature of ARK and decentralization, I would whole heartedly say no way.
But the delegates decide what happens to the network in the end, not me.
vela_nova [5:34 PM]
No it sound like a way to incentivize adoption
Matthew_DC [5:34 PM]
There are lots of driving forces and for many, that driving force is token valuation, whether we like it or not.
Having every delegate for every bridge chain be required to register and receive payment on the main chain isn't really adoption in the way we want it. (edited)
spghtzzz(ark.party is not a website) [5:35 PM]
Marketplaces seem like a good idea, but I think ARKVM will probably stop people from having to delegate every single function they want to create, using tokens and leveraging someone elses blockchain as a service.
Jarunik [5:36 PM]
we already have a delegate market place ... if you offer good enough incentives and a convincing project ... easy to find dpos delegates.
pieface [5:38 PM]
Couldn't there be a compromise somewhere?
Continue with the Ark Mainchain like now.
An ArkVM chain which the Arkcoin is pegged to
An ArkDM (Ark delegate marketplace) chain which the Ark coin is also pegged to. (edited)
Matthew_DC [5:38 PM]
The truth is, a large part of the valuation and use of the token relies on our ability to create easy swapping mechanisms for ARK->Bridge Chains so that we can incorporate easy, simple to use, GUI driven interaction with bridge chains without anyone ever needing to own the other token. That involves ACES or something like AIP18, it involves creating multi-sig and time lock style transactions, that allow the network to use something similar to liquidity gates (for the sake of argument) to allow the ARK wallet or application store to carry out the bridge chain functions with the ARK balance, invisible to the user.
@pieface There is nothing to stop someone from creating any possible use case, whether that be a delegate marketplace or 3 or 4 VM focused chains with different flavors and incentives, etc
vela_nova [5:44 PM]
You can’t expect potential clients to identify a use case, the actors involved, and where that use case starts and ends without some kind of built in framework and enough momentum/adoption to ensure dependability. (edited)
Matthew_DC [5:45 PM]
This is the tricky part of decentralized business and a decentralized world, you have to come to consensus. It's why there are so many forks out there. If we asked every delegate, odds are it would be split on AIP19
If a potential client hasn't identified a use case then how are they a client? We absolutely can expect a potential client to identify a use case or they have no business. That's step #1. As far as finding delegates, we had always planned a marketplace, just not tied to the ARK main chain in the way described in AIP19. As far as examples and frameworks, we are building out new documentation and have some partners who will be helping us do just that.
vela_nova [5:55 PM]
It sounds like you’re relying too much on an audience that has already accepted ark as a solution to their needs. That’s problematic when it comes strengthening the ecosystem and encouraging adoption.
I look forward to this new documentation though (edited)
zebedee [5:57 PM]
lol Lisk up 30% , mainnet pump
vela_nova [6:02 PM]
:shrugs:
vela_nova [6:15 PM]
So the lisk community is convinced that their resources are dedicated to a productive cause. Maybe we could use some positive speculation too for a change. A little shade is one thing, but y’all are some walking palm trees :palm_tree: up in here. This culture of scrutinizing lisk or any other project but the one one we’re here for is ironically weakening the ark.
SuperCool (The Golden Horde) [6:16 PM]
The we already have a market place argument is an inside argument imo. From the ‘outside’ aip19 would sound really nice. While there is some truth in the ‘shitcoin argument’ I feel it almost the same as the ‘bitcoin is used by criminals’ argument
Djenny Floro (Ark Tribe) [6:16 PM]
What's the golden horde ?
SuperCool (The Golden Horde) [6:17 PM]
Our marketing failed :cripes:
Djenny Floro (Ark Tribe) [6:17 PM]
If it was on Reddit, I'm sorry. I don't follow the Reddit much because of the time Ark Tribe takes.
tk0n (thefoundry) [6:17 PM]
you have marketing?
SuperCool (The Golden Horde) [6:18 PM]
@Djenny Floro (Ark Tribe) Colby made a really nice introduction: https://medium.com/the-golden-horde-blog/the-golden-horde-announces-ark-delegation-merchandise-business-e3f1a4162a60?source=linkShare-b6b32376193e-1534436290
Medium
The Golden Horde Announces Ark Delegation & Merchandise Business
After being in the Ark community for more than a year, we have seen a lot of great people coming together and discussing all things…
Reading time
6 min read
Jul 26th
https://cdn-images-1.medium.com/max/1200/1*HOBm_aB5iJ4XUCV5y9Ls7g.png
SuperCool (The Golden Horde) [6:19 PM]
replied to a thread:
This is really offensive, we should remove tk0n
vela_nova [6:20 PM]
Ya little too much behind closed doors for my taste.
SuperCool (The Golden Horde)
The we already have a market place argument is an inside argument imo. From the ‘outside’ aip19 would sound really nice. While there is some truth in the ‘shitcoin argument’ I feel it almost the same as the ‘bitcoin is used by criminals’ argument
Posted in #trading_altcoinsToday at 6:16 PM
Highjhacker (The Golden Horde) [6:20 PM]
replied to a thread:
DELETE :angry:
arkenstone [6:39 PM]
Slack outage
This message was deleted.
tk0n (thefoundry) [6:41 PM]
You can take away my GIFs but you can never take away my freedom :allthethings:
SuperCool (The Golden Horde)
This is really offensive, we should remove tk0n
From a thread in #trading_altcoinsToday at 6:19 PM
arkenstone [6:43 PM]
This was strange ..was on officia slack .. they said servers were down ..was getting error messages when sending text ..
SuperCool (The Golden Horde) [6:44 PM]
Yeah slack was down for me aswell
I wanted to ad to my argument that aip19 or a similar solution would make ‘push click blockchain’ a real thing
Msk [6:55 PM]
joined #trading_altcoins.
Matthew_DC [6:58 PM]
I had a reply but couldn't post it and now I forgot :shrugs:
SuperCool (The Golden Horde) [7:04 PM]
Haha
I also wrote that a lot smarter the first time
mak [7:14 PM]
Thanks for the feedback @Matthew_DC. Some of the points you mention up have been brought up in the last week by @skeuo as well. Such as someone changing votes frequently in order to mess with the system and someone creating a chain with 10,000 delegates. For the first problem I suggested that vote recount could happen every few hours instead of every block but it's possible there is a better way to handle this. In the second case I think a bridgechain with so many delegates wouldn't be able to sustain any significant token value since the blockreward would be diminished so much or would be unable to pay out because the liquidity gate ran out of ark. I agree these are technical hurdles related to implementation that we need to consider but I don't see them as critical issues.
Regarding your last point i.e someone breaking ark main chain would break the entire ecosystem I acknowledge that it is a concern. Which is why the token economic incentive is useful to make it more difficult to execute a 51% attack on the main chain. On the other hand since the bridgechains depend on the main chain's security for theirs, it makes the bridge chains more secure. In the end I see this as a mechanism design problem where the best approaches can be proven mathematically using game theory and if there's a better way to achieve the same effects then I'd be glad to check them out.
Matthew_DC [7:18 PM]
You also have to consider the consensus mechanisms and individual components and modules used by bridge chains. A given bridge chain may require a specific set of modules for their applications purpose. In that sense, their node software may be vastly different for providing consensus when compared to the ARK core model. In this case, let's say delegates ABC are providing consensus for Bridge Chain X and after vote re-shuffle, ABC are now required to provide consensus for the use case of Bridge Chain Y. This may require a completely different software package for the node and you have to determine a model for those delegates to not just re-shuffle to new peers for consensus, but also potentially download and implement new modules or entire new packages in order to provide consensus for the given bridge chain to which they are assigned. (edited)
Jarunik [7:19 PM]
Did anyone check the sidechain forging from mainchain that blockpool is developing?
Matthew_DC [7:20 PM]
I haven't
mike [7:20 PM]
I like the proposals but prefer pie's approach of implementing them on bridged chains. The main chain needs to be simple and reliable like TCP/IP. We then build on top of in modular fashion, like adding email and http on top of TCP/IP instead of adding them to it.
Djenny Floro (Ark Tribe) [7:23 PM]
@mike the point was to make Ark the reward system, if they're on the bridged chain how would they receive Ark as the token reward for their forging chain?
It was also meant as an incensitive for non-forging node, as for now, they're running a node for free.
Matthew_DC [7:24 PM]
Maybe instead you do a dual voting system that somehow ties into a core delegate market network or the ARK Main Chain that allows for voting on a given bridge chain using a bridge chain ID# and Delegate# and every ARK accounts gets 1 vote per bridge chain and then that holds 60% weight and the bridge chain votes hold 40% and the bridge chain has a mechanism built into their node through a module that pulls votes from main net
So you provide additional security without the main net delegates providing consensus so packages aren't an issue and it's not as susceptible to being completely taken down by ark main net going down as a secondary voting system exists (bridge chain votes) (edited)
mak [7:25 PM]
That was also one of the suggestions that @skeuo came up with but from what I could work up it would have adverse effects on scaling since all main chain delegates now need to have a full node running for every bridgechain in order to know bridgechain only delegates (edited)
However if we could provide hard SPV guarantees then maybe it's possible
Matthew_DC [7:27 PM]
OK, no need to map that out further I think you know what I'm saying on that one and it sounds like it was mentioned.
Well, how do you trust any values from any network truly.
If you want to vote on a bridge chain, then your wallet has to connect to a relay or node on that network
through the same way we do now on ARK
no need to download the entire chain necessarily
goldenpepe [7:28 PM]
How does one provide SPV guarantees in dpos?
mak [7:30 PM]
the block headers leading up to the required transaction are provided though I'm not sure if the chance of correctness in DPoS is the same as in PoW (edited)
Matthew_DC [7:30 PM]
Delegates on the bridge chain could still convert and payout forging rewards to main net voters with a little work to the scripts
JayCrypto [7:32 PM]
You guys need a new white paper
Matthew_DC [7:33 PM]
Way to break the flow
mak [7:34 PM]
the main issue IMO would be with main chain delegates accepting the threshold signatures
if some of the delegates have been selected only on the bridgechain
then the main chain can't know for certain about them without SPV or a fullnode
and like I mentioned I don't have the expertise to figure out how reliable SPV is in a DPoS system
JayCrypto [7:35 PM]
Why does it matter
Why can't the nodes run their own delegates (edited)
mak [7:36 PM]
the bridge chain could either go 100% delegates voted on their own chain or 100% delegates voted on main chain but not a mixture of both
JayCrypto [7:37 PM]
Why
mak [7:37 PM]
it would require main chain delegates to run full nodes for all bridgechains
not scalable
you run into the same situation that ethereum has currently
JayCrypto [7:41 PM]
I'm not a tech person but I always envisioned ark as bridge chains not connected to main chain but able to communicate with them through arkVM or some aces module. I never thought the bridge chains would need the security of ark. As for ICO, I was under the impression that through arkVM or aces, companies can raise money through ark/Eth/btc... And eventually some arkVM Dex would be available to trade between tokens
Matthew_DC [7:41 PM]
Maybe I'm being naive here, but why does the main chain care? It's up to the bridge chain to properly implement the dual voting for the added security and to require voting from main net to impact their voting mechanism. Main net should just store a vote value. If it's 60/40 main chain voting to bridge chain voting to determine delegates, then you still have a ton of added security. IF the bridge chain isn't properly implementing it, then people should consider whether or not they really want to put their money into the token/bridge chain. It would require the bridge chain delegates run an ARK node but that's better for us and creates a larger ARK main network by adding more relays.
Sorry, maybe I'm missing something and I'm just thinking out loud while doing a bunch of other stuff
mak [7:42 PM]
main chain needs to approve/disapprove remote liquidity gate transactions based on it's knowledge of current bridgechain delegates
Matthew_DC [7:42 PM]
I'm not talking about the liquidity gate right now
mak [7:42 PM]
can't have AIP18 working without it
Matthew_DC [7:42 PM]
I'm talking about dual voting chains for added security
and then we don't need price discovery for vote shuffles
JayCrypto [7:43 PM]
What's a liquidity gate
mak [7:43 PM]
@JayCrypto please read the AIP 18 :slightly_smiling_face: https://github.com/ArkEcosystem/AIPs/issues/25
GitHub
AIP 18: On chain price discovery using liquidity gates · Issue #25 · ArkEcosystem/AIPs
AIP: 18 Title: Token price discovery and creating high liquidity decentralized exchange in the Ark ecosystem using instant crosschain atomic swaps Authors: Moazzam Abdullah Khan Status: Draft Type:...
Matthew_DC [7:44 PM]
and it provides utility because the voting from main chain provides security to side chain and also potentially if main chain accounts get 1 vote on every bridge chain it provides for additional forging rewards exponentially as the network grows
but without adding a bunch of complex activity on the main chain
just more voting transactions really
mak [7:44 PM]
We could make it so that the bridgechain only delegates aren't part of the k-threshold signature for the liquidity gate
that way it would work
Matthew_DC [7:45 PM]
ark tokens wouldn't dilute bridge chain circulation as they aren't actual tokens, but they provide for voting to expand capability and security of bridge chain through their use
mak [7:45 PM]
but then those delegates are 2nd class delegates that don't share the full responsibility
Matthew_DC [7:45 PM]
and voters on main chain could be paid out from converted forging rewards
Aren't they though?
ARK main net provides 100% of security of its main chain and 60% of all bridge chains that implement, bridge chains hold 40% of responsibility which is reasonable but allows for much more expensive 51% attacks if main net votes are being used on bridge chains providing added security for new chains just spinning up
mak [7:47 PM]
how do you propose we create the threshold signatures to control liquidity gates when the delegates are split like this?
Maybe I'm missing something here
Matthew_DC [7:47 PM]
I'm not concerned at all with liquidity gates right now
I'm talking about a system in which bridge chains get added security, main chain gets added utility, by adding very little to main chain bloat and using vendor field
then you are back to the idea of just having a decentralized exchange for swaps, atomic swaps, and traditional methods of moving funds between
for that matter, any DPoS chain could tie in to the main chain for added security using that method by registering a chain and allowing voting
mak [7:49 PM]
Let me ask you this then. Do you agree that the bridgechain's delegates should be responsible for handling it's liquidity gate? You have to keep in mind there are potentially billions of dollars worth of tokens stored in them.
I think that delegates should be responsible for it because the community trusted them with their votes.
Matthew_DC [7:50 PM]
just create an atomic swap marketplace
mak [7:51 PM]
can't have price discovery without liquidity gates though. So there would be no rank ladder to figure out delegate-bridgechain match
Matthew_DC [7:51 PM]
no ladder necessary
no convoluted hot swapping delegates
main chain accounts choose who they want to vote for
and can register 1 vote per bridge chain
mak [7:52 PM]
well then you have the same issue of delegates speculating on future token price and negotiating with team to become a delegate
too much social friction
Matthew_DC [7:53 PM]
I disagree. People said our version of DPoS wouldn't work because of social this and that and bribes and blah blah
Delegates can't negotiate with the team for votes if the main chain votes outweigh the bridge chain funds 60/40
mak [7:54 PM]
Ohh I think it works. Just that there is a lot of unnecessary headache involved which can be taken out completely. (edited)
JayCrypto [7:54 PM]
@Matthew_DC are you saying that ark holders can vote on bridhechain delegates even though they have no bridhechain tokens?
Matthew_DC [7:54 PM]
you are creating checks and balances on manipulation by the team in a sense
@JayCrypto yes, as an added security measure for the bridge chain to avoid 51% attacks in their infant stages
you would essentially have to take over ARK main chain, plus a % of bridge chain tokens to gain control
JayCrypto [7:55 PM]
Or you could issue 1 trillion of your own tokens
Is there a yes no option for this
Matthew_DC [7:56 PM]
It doesn't matter if % is 60/40 in delegate appointment 60% of weight from ARK main net and 40% from bridge chain net voting
mak [7:56 PM]
"you are creating checks and balances on manipulation by the team in a sense"
I disagree with that assessment. I am creating a decentralized protocol that manages the financial layer across multiple chains. The team should only have to worry about their product and not about convincing delegates to join them by offering rewards outside of the blockrewards.
Matthew_DC [7:56 PM]
so no matter how many tokens you make, it still holds in the calculation
They aren't offering outside rewards of any kind
JayCrypto [7:57 PM]
Is there a yes no option for this
Cos I wouldn't want it
Matthew_DC [7:57 PM]
They build their product, delegates need to worry about convincing people to vote for them
yes or no option for what?
mike [7:57 PM]
Implementing AIP18 and 19 on a bridge chain would make a lot of sense. It can operate with a 2 way peg to ark even, so delegate rewards would be the same, and convertible to Ark, or let the market decide the conversion rate, or use a liquidity gate. Many of the same delegates would operate on it, as has been the case with Persona.
mak [7:57 PM]
Eventually it's going to happen. Why would a delegate want to run the 100th chain in the ark ecosystem when it's expected market cap would never reach a million dollars.
JayCrypto [7:58 PM]
For this 60 034'3!5 thing
Matthew_DC [7:58 PM]
Why would anyone run as a delegate on any network
JayCrypto [7:58 PM]
Percent
Matthew_DC [7:58 PM]
at some point the team has to do some form of work
Crypto needs to get away from this entitlement stage
mak [7:58 PM]
@mike it could be done that way for convenience but it's functionally equivalent to having the voting on main ark chain.
Matthew_DC [7:58 PM]
if your product is stupid and no one believes it will ever have value and you aren't making any progress or building anything
then your network SHOULD die
mike [7:59 PM]
also, Rob has set up multiple chains to run on the same servers, so lower volume chains can be run very cost effectively.
Djenny Floro (Ark Tribe) [8:00 PM]
But then again, even with a great product, starting isn't always easy, so this marketplace of delegate could enable great project effectively.
mike [8:00 PM]
yes, mainchain voting could be mirrored over to the bridged aip19 chain.
Djenny Floro (Ark Tribe) [8:00 PM]
It would reduce risks for delegates too when they actually help a starting project, before they decide if they will run a full delegate on the chain or not.
Matthew_DC [8:01 PM]
AIP19 doesn't solve the "I don't want to be a delegate on a useless network" problem either
why would someone sit in spots 1,000-2,000 and run a node at a loss?
same problem
mike [8:01 PM]
i've never seen a new project having problems recruiting delegates, but they do sometimes have a problem retaining them if interest in the project fades due to failure to execute.
Djenny Floro (Ark Tribe) [8:02 PM]
@mike but so far there isn't many projects.
mak [8:02 PM]
I think you misunderstood my point @Matthew_DC. I think delegates are service providers that get paid to ensure decentralization to your bridgechain. They may or may not provide additional services to remain competitive but that's irrelevant for now. What I'm saying is that we can streamline the back and forth that is required currently to get delegates and keep them running (look at KAPU).
Djenny Floro (Ark Tribe) [8:02 PM]
When the number multiplies, there will be much more to chose from, and this might become another kind of trouble.
mak [8:03 PM]
However if you don't agree with that perspective then that's fine. Someone will eventually come in and implement AIP19 on their forked chain and we will let the market decide if it's useful or not.
vela_nova [8:03 PM]
Dunno ark the product can have everything but a driving purpose and still fail economically
Matthew_DC [8:03 PM]
You just need a central place for delegates to market themselves and their services and for projects to find them
Master [8:03 PM]
What’s the debate :eyes:
vela_nova [8:03 PM]
That is why I like what mak is getting at
Matthew_DC [8:03 PM]
You can do that without massive changes to the ARK Main net
JayCrypto [8:03 PM]
I'm just shocked that ark bridgechains have to use ark main chain delegates
Jarunik [8:04 PM]
A normal website is enough as delegate market place. I would have to run different servers for different chains anyway ... no need to integrate delegate operation into one mainchain.
Matthew_DC [8:04 PM]
And I agree the market should decide so you won't find any argument there. I would love to see multiple models challenge one another because in the end it makes the winner much stronger
Jarunik [8:05 PM]
More delegate tools that come out of the box and are easy to port over would help though.. :wink:
Matthew_DC [8:05 PM]
but anyone struggling to find delegates right now, it is most likely because their idea just sucks
Jarunik [8:06 PM]
Let's first have a good and stable payment solution for all bridge chains without the need for every delegate to code some script himself ... will already make delegate recruitement easier.
Matthew_DC [8:06 PM]
That's not going to happen. Delegate payouts won't be coded into the network itself by us at any point.
Jarunik [8:06 PM]
Things like that are much easier to implement and much less invasive.
I didn't say that ...
Brian already made a good plugin.
Matthew_DC [8:07 PM]
That I'm fine with
Djenny Floro (Ark Tribe) [8:07 PM]
@Jarunik something like that implemented in the Ark Commander?
Matthew_DC [8:07 PM]
but no baking it into the network core itself
Jarunik [8:07 PM]
If that becomes well tested and easy to use ... will help all bridge chains
Matthew_DC [8:07 PM]
for previously stated reasons
Jarunik [8:07 PM]
i don't want anything in the core :stuck_out_tongue:
i love the bare bone approach of v2
Matthew_DC [8:07 PM]
shit guys, I'm really enjoying this but I was supposed to leave 7 minutes ago to take my kids somewhere
try to capture some of the convo if you can and post a pastebin link in the github maybe
just for the sake of saving it
Jarunik [8:08 PM]
complex stuff tends to fail too easily
mak [8:08 PM]
have fun :slightly_smiling_face:
I think I've laid out all of my points. It's upto the delegates to decide if the idea holds merit and should be implemented.
JayCrypto [8:09 PM]
Is this 60/40 thing a slider which new bridgechains can use @Matthew_DC
spghtzzz(ark.party is not a website) [8:09 PM]
I always thought the ArkVM was meant to address this, if a person who is starting a new bridge does not **need** to change any node code, or **want** to run any delegates they can just create a token. Perhaps I am wrong though.
mike [8:09 PM]
i think implementing aip19 on a forked chain is best approach, and let market decide. i think there are some very good ideas to try in aip18 and 19, which is the advantage of ark's modular approach. ideas like this can be tried without risking the main chain, or having to hardfork it to add them in. By allowing a token swap or doing an airdrop, ark holders can have a stake in its success if it really does take off.
mak [1 hour ago]
If there's a 1:1 peg with ark on the new chain then there's no economic incentive for people to hold the new chain. However it will split the votes so it would be easier to attack the new network that's hosting the bridgechain delegate voting system.
mak [1 hour ago]
So if we want to experiment with it then we can't have the peg there.
mike [1 hour ago]
so you can mirror the voting from the main chain, just ignore votes for delegates that aren't running on the bridged chain.
mak [1 hour ago]
At that point is it a different chain anymore?
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Peer to Peer Exchange: As mentioned in the earlier question, we have a Centralised P2P Crypto exchange software. Using this powerful solution, you can start a Binance like Crypto exchange instantly. This software is free for Download here. Over-the-counter Exchange: The next bitcoin exchange script we have in store is the OTC exchange script ... Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Sign up to join this community. Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Bitcoin . Home ; Questions ; Tags ; Users ; Jobs; Unanswered ; How can my private key be revealed if I use the same nonce while generating ... The difference between NVO and NVOS might be confusing at first. However, the difference is simple, NVO token holders represent the investors, and the more NVO tokens one holds the higher share one has of the exchange. Once the project starts generating money, the fees will be distributed between the NVO token holders, and the currency that will be paid to the investors will be NVOS – or NVO ... Stack Exchange network consists of 176 Q&A communities including Stack Overflow, ... hash elliptic-curves modular-arithmetic finite-field abe. modified 18 hours ago kelalaka 23.5k. 0. votes. 1. answer. 62. views . Diffie-Hellman Decryption with A, B, p, g, cipher Parameters. encryption cryptanalysis diffie-hellman key-exchange. modified 18 hours ago Community ♦ 1. 1. vote. 1. answer. 51 ... Market makers, however, do not dictate the price of the assets. They act to provide orders, reduce spreads (price difference between the bid and ask prices), set up a listing strategy, assist in negotiating with exchanges, and provide feedback on a project's marketing efforts. Market making is not merely running a trading bot. A market maker is specialized in understanding order books ...

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Real Money (Gold & Bitcoin) vs Fake Money (Currency)

An exchange arbitrage is a commonly known trading strategy based on the differences between the price for the same asset at different exchanges. But what if you could do it the Arbitrage on the ... Currency traders can also trade Bitcoins in Bitcoin exchanges. There are several significant differences between Bitcoin and traditional currencies (e.g. U.S. dollar):. 🔵 Join Coinbase Exchange + get $10 of Free Bitcoin: https://www.coinbase.com/join/5907c318879035083aa43147 In today's Coinbase Tutorial, I walk you through h... In this video you will be shown how to place buy and sell orders on the exchange. As well as this, you will be shown an example of a live sale of bitcoin over at BTCXIndia.com, India's leading ... Bitcoin Exchanger Rate is Very High compare between International exchanger and Indian exchanger. In this video I suggest some exchanger where you buy bitcoin very low price.

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