TLDR: Due to insane gas prices, Trial of the Gods card minting and trading will be deferred until the release of Immutable X. Trial of the Gods cards and chests will be available via ETH purchases only, with credit card purchases being worked on for future implementation.
Hello everyone! The countdown to Trial of the Gods is (quite literally) on, and – when the new expansion launches – so too begins Gods Unchained’s very first season: Champions Rise*. “*What the hell is a season?” you ask? It’s a new structure for our releases, where a season spans multiple expansion sets (with Trial of the Gods being the first of Season 1), weaving mechanics, cards, and events together to tell unique stories within Gods Unchained. Season 1 is starting in a challenging environment on the Ethereum blockchain that leaves many questions as to how purchasing and minting of Trial of the Gods packs, chests, and cards will work. Well, let me put on my epic storyteller hat to add a bit of flare for this intro: *ahem* “Come with us on a journey through our own Trials in the face of adversity and learn how we plan to tackle and overcome the challenges that await!” …did that sound epic? I hope it sounded epic. By the Gods, everything leading up to this has felt Epic. The Trials started earlier in the year, when we made the decision to put the Forge on hold temporarily while we waited for gas prices to go down. Months later we’re sitting here wishing gas prices were where they were when we turned off the Forge. That early challenge due to rising gas prices, however, did start us down the path towards building technology that would enable us to maintain all the benefits of the blockchain without the huge transaction costs we’re experiencing today. That technology is Immutable X (IMX) and it is where we plan to mint the Trial of the Gods cards. To see why this is our plan, let’s look at a scenario where we go forward with minting ToTG to the blockchain.
Here Be Maths -Scenario #1: We launch ToTG with on chain minting of draw tickets and cards All Scenarios will use Sept 2nd when Gwei was at 500 and ETH around $430 for the math Cost of a Rare pack of ToTG: $2.49 USD Purchase transaction cost of a Rare pack or 100 Rare Packs of ToTG: ~$40 USD Cost to mint the draw tickets and cards: ~$77 USD or ~$1,215 USD for 100 Packs Total cost to purchaser: ~$42.49 USD or ~$291.49 USD for 100 Packs Total cost to GU: ~$74 USD or ~$966.30 USD for 100 Packs
Minting with Immutable X
For those familiar with Immutable X, great! For those who aren’t, we’re currently working on a game-changing exchange that will reduce the cost of buying, selling, and trading cards low enough to make trading commons viable. This will allow us to affordably mint in-game assets, bring the Forge back online and introduce a heap of new tools to enrich the player and trader experience. In the short term though, while Immutable X is under development, we’ve decided to proceed with the process of deferred minting for Trial of the Gods card packs. This is incredibly similar to what you may remember from the Genesis period, where we locked in the randomness used to determine your cards at purchase, made them available for use in game, but waited to actually mint the cards until a later date. At current gas prices, the gas fees associated with minting a Rare pack greatly exceed the cost we want to charge for a Rare pack. It also means another series of transactions will be needed to pull those cards into IMX once it’s live, at a cost many times the original pack price. If we, as a company, pay for those minting costs, we’ll quickly run ourselves into the ground – and asking you to pay for those costs is also out of the question (as paying double or more the pack price is ridiculous). By deferring the minting process until the release of IMX, we can get the set into the hands of our players now, and open trading up down the line in IMX. Once your cards are on IMX, you’ll be able to trade ‘em freely on the Gods Unchained marketplace, as well as move them on-chain at any time to trade on third-party marketplaces. Importantly, IMX is a non-custodial exchange, meaning you and only you have access to your cards (we can’t take them away or lose them). So how do you know the cards you get are the cards you’ll receive when IMX minting is activated? Purchasing a pack acquires a random seed from the blockchain, a series of inputs that will always have the same outputs, and writes it into the transaction. Put simply: it’ll predict what cards your pack gives with 100% accuracy. This is how we’re approaching randomization for launch, but this could change to save purchase processing time where we aren’t asking the blockchain for the seed but still storing one generated by us. (This is still being decided and we’d love your thoughts here! More on this below in the ‘Dangerous waters: Here be maths’ section). It’s important to note that Immutable X minting will not be applied to two items: Trial of the Gods chests and draw tickets. After the Balancing Phase has ended, chests will be minted as ERC-20 tokens and become tradable on third-party marketplaces, while draw tickets (used for entry into the Shadow and Mythic Draws) will be minted as ERC-20 tokens on a weekly cadence and will also be tradable on third-party marketplaces. The cadence of ticket minting will still be subject to gas prices, however. A weekly cadence allows us to mint all tickets from all opened packs in a single transaction, and allows us to continue minting at much higher gas prices. On days like September 2nd, when Gwei broke 500 we would need to delay for just a bit.With Ethereum gas prices above 500, we believe this also shows why it is in our players’ best interests for Trial of the Gods cards to be minted into IMX where they are not only owned by those who hold them, but are in a system that allows them to be traded. This will prevent the situation we’re in right now with Genesis cards being effectively locked in whatever wallets they’re in at the moment, and trapped digital assets are a key problem we’re trying to solve.
Here Be Maths - Scenario #2: We launch ToTG with deferred minting of cards and delayed minting of draw tickets Cost of a Rare pack of ToTG: $2.49 USD Purchase transaction cost of a Rare pack or 100 Rare packs of ToTG: ~$40 USD Total cost to purchaser: ~$42.49 or $291.49 USD for 100 Total cost to GU: Variable as it depends on how many packs are bought per ticket minting period, but we should come out still in business.
Dangerous waters: Here be maths
From the previous examples, it's clear we haven’t yet tackled all the issues with the math for both sides of the transaction, and as such there is more work yet to be done. We’re currently in the process of optimizing the purchase transaction, which determines what cards you receive to reduce costs for those buying packs. Even so, buying a single pack isn’t going to make sense until gas costs come down quite a bit. It does take the purchase of multiple packs for the math to work. Keeping with our existing scenario though we want to reduce the purchase transaction cost for users and that will require some additional changes to the smart contract.We’re investigating removing the trustless (aka: you don’t need to trust us or anyone) nature of the randomization of ToTG packs by removing the on-chain validation of randomness. The randomization of packs would still be auditable in that we’re still logging the seed for the randomness, and any user could verify that their purchase matched what we gave them. However, it would no longer be trustless in that the validity of the randomness will not be enforced by smart contracts. While this isn’t ideal for a blockchain game, removing this will reduce the cost of the transaction by about 40%. This is not confirmed for launch as we’re working on it right now, and would love the community's feedback. This approach could be extended to remove the majority of on-chain actions to reduce the cost to purchasers even further to just the ETH transaction. We’re also investigating this more extreme path with an option to opt into the higher purchasing cost to maintain everything on chain. Again, your feedback would be appreciated.
Here Be Maths - Scenario #3: We launch ToTG with deferred minting of cards, delayed minting of draw tickets, and auditable randomization. Cost of a Rare pack of ToTG: $2.49 USD Purchase transaction cost of a Rare pack of ToTG: ~$23 USD Total cost to purchaser: ~$25.85 USD (About 40% less than with trustless randomization)
Even here it still doesn’t make sense to purchase a single pack, and it won’t until gas prices drop back down. Luckily the costs to both GU and purchasers don’t scale with the number of packs bought. Even so, we’re continuing to look at ways to reduce the cost of the transaction itself, and IMX will resolve much of our costs in the future. What we aren’t counting on at this point is a return to the days of cheap gas.
Here Be Maths ~ Dream Scenario ~: We launch ToTG with deferred minting of cards, delayed minting of draw tickets, and auditable randomization at gas prices equal to when Flux minting was disabled (8 Gwei) Cost of a Rare pack of ToTG: $2.49 USD Purchase Transaction Cost of a Rare pack of ToTG: ~$0.37 USD Total Cost to Purchaser: ~$2.86 USD
Exclusively ETH (to begin with)
We’ve been adamant for some time that credit card purchasing was an incredibly important factor that we wanted from the get-go with the Trial of the Gods expansion. We’ve solved a number of challenges associated with credit cards, from legal terminology around digital asset ownership, to escrow periods to help avoid chargeback issues, to making the purchase flows work and escrow’d cards clear and usable in the game. Despite all of these solved problems a few legal issues remain to sort out and, while the game team can solve any number of bugs, we aren’t lawyers. We’ve made the hard call to move forward on releasing Trial of the Gods without credit card purchases for launch because we believe it will bring a lot to the game. We expect to launch the credit card purchase flow in the near future, but only the lawyers really know when that’ll be. Unfortunately, what this means is that Trial of the Gods won’t be launching with credit card functionality off the bat. But it isn’t far away. We’ll be integrating credit card purchasing as soon as we’re confident we can push the button, at which point it will be set up for every new expansion to come. While we’d like that to include a portion of Trial of the Gods, it may not necessarily be the case. We want to ensure that your credit card transactions are secure and safe, and we won’t release this payment option until we’ve reached that point.
Playing and trading Trial of the Gods cards
You might be wondering: “After I buy my card packs, when can I use them?” The short answer is: very soon after purchase. If you make your purchase with ETH, your items will be usable in-game from the moment the payment transaction is confirmed by the blockchain. Once credit card purchasing is available and you use it for a purchase, the assets will be usable in-game as soon as the payment transaction is confirmed by the game. Trading your items is another matter and there are a few things that come into play here; namely: the Balancing Phase, escrow, and Immutable X minting. A lot of you will be familiar with the Balancing Phase, which allows a new set to be tested in a live environment to see what creative ways y’all decided to use your decks. As a general rule across Gods Unchained, and much like the Genesis period, cards can’t be traded until after the end of the Balancing Phase. Unlike the Genesis period, we expect this Balancing Phase to be much shorter. The end of the Balancing Phase will be at least 60 days after cards go on sale – but we reserve the right to have additional 30-day extensions if we are not yet satisfied with the results. We’ll make sure to communicate this clearly with you as we journey through the first expansion of Season 1. The next thing to affect trading is escrow, which won’t come into play unless credit card purchases are activated. Essentially, any item purchased with a credit card will be subject to an escrow period of 90-days after purchase. This is because Ethereum ownership is irreversible, so a payment must be cleared before tokens are delivered (as mentioned above, they’ll be playable in-game during this time though!). Clearing a payment is instantaneous with ETH... not so much with Credit Card. We’ll have the terms and conditions for credit card purchasing available in more depth once it’s ready to go, but 90-days is where we’re starting and – as that’s a very long time – we’re working to reduce it moving forward based on factors like your purchase history. You’ll be able to trade your Trial of the Gods cards on the Immutable X platform once it’s live, so long as the conditions for the escrow period and Balancing Phase have been met. They’ll be minted straight to the Immutable X platform, meaning that there will be absolutely no minting costs for you. Again, we’ll have more details on the Immutable X platform once the public launch is closer.
Wrapping Up
I’m pretty sure a lot of the above isn’t a surprise to those in Discord, as I’ve seen much of the above as a predicted solution to the challenges of the current environment (we’ve got plenty of big brains in the community!). We hope that you’ll agree that deferred minting gives us and you the ability to play with ToTG now, while also benefiting from direct minting into IMX – instead of having to wait for the entire expansion to ship. Again, we’re in the process of exploring moving more of each purchase off-chain to save costs to you, so if there are any concerns now is the time to raise them. We’re lucky, in that we’re well on our way to a necessary solution for blockchain games to work, and hopefully we can bring it to more than just GU in the future. Above all else, thank you for your continued support of Immutable and Gods Unchained through what has been the most insane year of my lifetime. The launch of Trial of the Gods is just the start of our counter-attack on 2020, and we’re looking forward to sharing more with you in the coming months. See you in the Arena.
Here Be Maths - IMX Scenario: A parting look into the future. IMX will allow you to have ETH inside of IMX as well, and in that world we see the following scenario. Cost of a Rare pack of ToTG: $2.49 USD Purchase transaction cost of a Rare pack of ToTG: ~$0.00 USD Cost to mint the draw tickets and cards into IMX: ~$0.01 USD Total cost to purchaser: ~$2.49 USD
Syscoin Platform’s Great Reddit Scaling Bake-off Proposal
https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44 We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution! Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality. Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining. This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.
Solutions
Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.
Syscoin + Matic Integration
Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both. Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.
Total cost for these 100k transactions: $0.63 USD See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing: ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37) Syscoin price: $0.11 Snapshot of live fee comparison chart Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions. Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.
Sysethereum Dapp: UI Dapp for reference implementation. The Sysethereum-Dapp automates the process flows depicted in “Syscoin Bridge & How it Works” within a native ReactJS application for convenience. An active implementation using the Syscoin Platform Mainnet can be used atbridge.syscoin.org.
API
Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.
The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms. The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.
Cost
Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.
Z-DAG
Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).
Benefits
Unique fee-market that is more efficient for microtransaction redemption and settlement
Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
Provides high throughput and secure fulfillment even if blocks are full
Probabilistic and interactive
99.9999% security assurance within 10 seconds
Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.
Syscoin Specs
Syscoin 3.0 White Paper (4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
SHA256 merge mined with Bitcoin
UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
Z-DAG on asset layer, bridge to Ethereum on asset layer
On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.
Wallets
Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask. Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2. Current supported wallets Syscoin Spark Desktop Syscoin-Qt
Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!
Developers can now use Chainlink's Fast Gas/Gwei Price Reference Feed for a decentralized on-chain source of the current fast gas price on Ethereum. Referencing Chainlink's fast gas price at the point of execution ensures users don't overpay for gas.
One of the world’s top cryptocurrency exchanges Huobi Global is making its exchange data available to smart contracts through the Chainlink Network. Additionally, Huobi Wallet is currently running a live Chainlink Node.
Bullionix, a dApp for minting 3D gold-staked NFTs, has successfully integrated Chainlink's XAU/USD Price Reference Feed into their system. This provides Bullionix with a highly reliable & manipulation resistant gold price for tracking the gold market.
Gelato Network, a protocol for automating dApps, is live on mainnet using Chainlink's Fast Gas/Gwei Price Reference Data. Gelato applies the fast gas price at the point of contract maturity, ensuring users pay the fair market price & can control gas costs.
NFT-focused Polyient Games is integrating Chainlink VRF to assure transparency for the minting and random distribution of PGFK rewards—a membership NFT that provides lifetime rewards & perks to holders within the Polyient Games Ecosystem.
Cargo.Build, the all-in-one NFT platform for developers, artists, and collectors, is integrating Chainlink VRF to offer highly scalable white-labeled NFT minting services to enterprise game companies.
Entre otras cifras increíbles está que el suministro de bitcoin por medio de tokens creció un 330% hasta la fecha y proyectos de Ethereum, poseen un 70% más de bitcoins que grandes casas de criptomonedas. Ethereum tiene un conjunto de aplicaciones financieras basadas en sus protocolos y en esta nota te mostramos cifras sobre el crecimiento de la llamada plata de las criptomonedas y te adelantamos detalles del nuevo Hard Fork de ETH. https://emetenjoy.com/es/blog/Crecimiento-de-tokens-BTC-gracias-a-ETH-crece-de-manera-exponencial Se viene presentando un fenómeno de crecimiento de tokens gracias a la blockchain de Ethereum que nos muestran un crecimiento de manera exponencial y dejando en evidencia que la manera más utilizada de uso para Bitcoin fuera de su cadena principal es en Ethereum. Durante cuatro años, ingenieros vienen trabajando para mejorar el uso de las criptomonedas de mayor capitalización en el mercado a través de una pluralidad de protocolos adicionales para comercio: Liquid Network o para desembolsos como ofrece Lightning Network. Hasta la fecha, el protocolo más popular fuera de la cadena original que usa bitcoin se ejecutan en Ethereum. Se trata de dos proyectos que poseen el 70% más de bitcoins que Lightning o Liquid: ImBTC y WBTC. Para analistas como Camila Russo autora del libro La Máquina Infinita, escrito sobre Ethereum el fenómeno es irónico, pero no se muestra sorprendida. Explica la autora que, al ser más más flexible, Ethereum permite que dicho tipo de protocolos prosperan con más facilidad mientras que BTC fue puesto a punto para hacer un par de cosas a la perfección: transferir valor con confianza y sin censura
¿Qué ventaja tienen este tipo de BTC?
Los bitcoins tokenizados, como se llaman estos proyectos, permiten a los usuarios denominarse en bitcoins cuando realizan transacciones en el ecosistema emergente de productos financieros descentralizados de la red Ethereum. En lugar de usar Ether (la moneda nativa de Ethereum) para hacer préstamos o ganar intereses, por ejemplo, las transacciones se hacen, de hecho, con bitcoin. El suministro del tipo de BTC por medio de tokens ha crecido un 330% hasta la fecha. Es importante tener en cuenta que la cantidad total de BTC retenida de la cadena de bloques de Bitcoin por los protocolos basados en Ethereum y Bitcoin es pequeña, solo 8.285 BTC, lo que representa un valor de $79 millones USD, en relación con los 18.4 millones de Bitcoins emitidos desde 2009.
Hard Fork de Ethereum Classic
El domingo en la noche se dará una división entre los socios de trail Ethereum y Ethereum Classic: "Phoenix" Ejecutado en el bloque 10,500,839 el 31 de mayo, la actualización de red incompatible con versiones anteriores hace que Ethereum Classic sea totalmente compatible con Ethereum. Es decir, hasta que la cadena de bloques más grande intercambie su algoritmo de consenso en una revisión de la red conocida como Eth 2.0, programada para el tercer trimestre de 2020. La bifurcación dura representa una salida importante para Ethereum Classic, que se queda con la Prueba de trabajo (PoW) mientras que su cadena hermana se mueve a Prueba de estaca (PoS) y fragmentación.
¿Por qué se da el Hard Fork de Ethereum?
De alguna manera, la división PoS versus PoW refleja el desacuerdo fundamental que condujo a la creación de Ethereum Classic. Las interpretaciones competitivas de un infame truco de 2016 forzaron una bifurcación polémica que dividió un campamento de desarrolladores en dos. Desde entonces, Ethereum Classic ha jugado en gran medida con Ethereum, que cuenta con la red de desarrolladores más grande. Pero ahora, Ethereum Classic se apega a lo probado y probado, dijo el CEO de ETC Labs, Terry Culver, en una entrevista. “Estamos cómodos con cómo funciona [PoW]”, dijo y “con el tiempo, podemos abordar sus desafíos”. Phoenix representa el tercer Hard Fork ejecutado en Ethereum Classic en el último año calendario, precedido por Agharta y Atlantis, que también aumentaron la interoperabilidad entre las dos cadenas. La bifurcación dura del domingo incluye las Propuestas de Mejora de Ethereum (EIP) de la última bifurcación dura de Ethereum, Estambul, realizada en diciembre de 2019. Debemos recordar que Estambul modificó las restricciones de gas, agregó protecciones contra ataques de denegación de servicio (DoS) y creó opciones para la interoperabilidad con cadenas de bloques equihash como Zcash. De esas actualizaciones, los desarrolladores de Ethereum Classic se centraron principalmente en abordar varias restricciones de gas bajo la Propuesta de Mejora de Ethereum Classic (ECIP) 1088. Tanto en Ethereum como en Ethereum Classic, las restricciones de gas se ajustan de vez en cuando según las necesidades de la red. Denominado en la subunidad "gwei", el gas es una tarifa que se paga a la red por ejecutar las transacciones de un usuario.
Mejora para Ethereum
En lugar de seguir los pasos de Ethereum, Ethereum Classic ahora será un vecino cercano de la red original y permitirá a la comunidad ETC en una posición para impulsar la innovación. Con ese fin, ETC Labs está llevando a cabo proyectos en clientes apátridas y almacenamiento descentralizado. Las actualizaciones técnicas sobre el Ethereum existente continuarán. Llamada Eth 1.x, la cadena Ethereum basada en PoW lanzará horquillas duras no contenciosas, incluida una a finales de este verano conocida como “Berlín”, hasta que se una con Eth 2.0. Sin embargo, esa fecha es años en el horizonte. La comunidad Ethereum Classic probablemente adoptará estas medidas según sea necesario para mantener la interoperabilidad.
¿Por qué es importante lo que viene sucediendo con Ethereum?
Porque mejora la confianza y operatividad de una criptomoneda que crece de manera sostenida al tiempo esquivando con más facilidad la inestabilidad de Bitcoin. Esto se convierte, por lo tanto, en la capacidad de aumentar la fuerza de trabajo, lo que redunda en confianza tanto para los inversionistas como para los nuevos usuarios de criptomonedas que llegan minuto a minuto a la red. Faswet te permite disfrutar de todos los cambios que se están dando y que al cierre de esta nota mantienen a la llamada plata de las criptomonedas (ETH), con un rendimiento superior al 4% durante el mes. Ingresa a Faswet: https://faswet.com/es, regístrate y comienza a disfrutar de todos los beneficios de poseer una criptomoneda rentable, al alance de todos como lo es Ethereum.
I just published a blog post responding to the accusations made in Reddit post titled “The Synthetix "dApp" deleted my balance”. You can find the full post here. But I will pull out the most important points below. The first point is Onyx never had his balance deleted and he knows this, in fact he even linked to the transactions where it is clear this was not the case. Some will say this is semantics, but it is critical to understanding what actually happened. Here is a quote from my discussion with Onyx on Reddit: “I actually want you to keep running the bot so we can make these changes and see if they are effective.” So yes, we promised we wouldn’t delete his balance and we didn’t, but I absolutely said we were planning to introduce anti-frontrunning measures. What actually happened is we implemented a slashing condition into the oracle. This was documented here and was openly discussed and debated within the community at the time. Was this an aggressive solution to the problem of front running? Yes absolutely, but the justification was simple, in the absence of a penalty a malicious actor would have no disincentive to attack the system. If the only risk was not profiting then it was clear more people would attack the system. Tthe system we implemented in the oracle was not arbitrary and didn’t target one wallet specifically, it targeted any wallet that met the slashing conditions. The reality is Onyx is an opportunist who was trying to exploit the system, and when he realised he had even more leverage due to the oracle outage he doubled down and tried to extort $100k USD to assist with restoring the system. There was no reason to trust he would not use any future leverage to attack the system and extort more money from us. We negotiated with him to restore the system, and then transferred $40k worth of ETH. This was from the outset a hostage negotiation, and we were doing everything we could to restore the system without needing to redeploy the contracts and roll back the debt. The process used to restore the system was straight forward, once we agreed on the amount to be paid. We manually modified the exchange rate on the sKRW token and he traded back into that token to reduce his balance. We then restored the correct exchange rate. It is probably worth pointing out at this stage, we had an agreement about the amount of sETH he would be keep after the trade, he immediately broke this agreement and kept an additional 18 sETH ($5k USD) failing to revert to 132 sETH and instead reverting to 150 sETH). So even after being paid $40k he couldn’t help but to take another $5k, the level of trust at this stage was pretty low. Of course Onyx then continued to attack the system, as we knew he would, whether we encouraged it or not. We accept people will attack the system and we will need to respond, this is crypto, it is an adversarial space. We then spent almost 24 hours straight working through the solutions available, and each time we came up with a solution it was obvious that it was not going to change the calculus for an attacker. We needed some kind of slashing condition, otherwise the optimal strategy would always be to attack. So we implemented a slashing condition and his bot was caught by it and slashed. Specifically what happened was the oracle detected a tx in the mempool trying to front run a price update. It then implemented a sandwich attack to raise the exchange fee to 99% for that transaction by sending one tx with higher gwei to raise it and another with lower gwei to drop it back down to the normal rate. Here is the transaction that slashed his funds by 99% and sent them to the feepool to be distributed back to SNX stakers. After sharing his story in Discord and being dismissed he started front running again, but he implemented a check in his contract to protect against slashing with a “fuck you” message for us. It was clear we were dealing with someone who was going to keep escalating and we needed a response because the front running attack vector still existed. We had falsely assumed funds being at risk would be sufficient to dissuade an attacker but we underestimated how determined Onyx was based on this new sense of the injustice of the situation as he saw it. This incident exposed a number of issues in the current implementation of Synthetix, some issues we have already addressed and others we continue to address. It is of course up to each individual to make a determination about the set of trade-offs we have chosen and the implications. We believe the vast majority of our current users understand and accept these trade-offs and have tried to be as open about them as possible. But I personally accept responsibility for ensuring we do a better job of ensuring all users are as informed as possible. We have also made a strong commitment to our community to move towards a fully decentralised DAO like model for Synthetix, something which I personally believe is critical to the long term viability of the project, but that needs to be well thought out and timed correctly. Hopefully we can now all go back to watching the ETH/BTC ratio recover.
Is it costly to host a blog on the Ethereum blockchain?
I'm still trying to wrap my head around the costs of putting data on the blockchain. So as an example, I'm wondering if you could write a blog selling each post as an ERC721 token. Would each post be expensive to release onto the blockchain?
ICO Buyer Slack: https://join.slack.com/t/icobuyeshared_invite/MjI5MTY0Nzc2ODM2LTE1MDMyNDIxNjEtYzY4N2U2MDZjYg Bug found in contract! Users should carefully consider the risks. Looking forward to the Status ICO, but worried you'll oversleep or that your transaction will fail? Simply send ETH to my smart contract any time before the ICO and it will buy in for you! After the ICO and once the Status devs have enabled token transfers, you can withdraw at your leisure by sending 0 ETH to my contract. No fiddling about with "watching contracts" or any of that nonsense. You may remember my contract's previous deployment for the Bancor ICO where it successfully purchased a little over 425 ETH worth of BNT. (Although, note that users haven't yet withdrawn their tokens, as the Bancor devs have pushed back unfreezing transfers.) Some of you may have heard that the Status devs have placed a blanket ban on contract participation in their crowdsale. So how can my contract participate? The Status devs have been generous enough to specifically whitelist my contract, enabling it to purchase up to 500 ETH worth of tokens. Note that the Status devs may decide to increase my contract's allocation if it attracts a large number of non-whale participants, as their ICO is built around evenly distributing their token. Given the purchase limit, my contract will use the "proportional refund" model to make sure everyone can get a piece of the pie. With this model, every user gets a fraction of the purchased tokens proportional to the amount they contributed. Users who want to avoid the 1% fee on their purchased tokens can send 0 ETH to my contract during the ICO to simulate entering the ICO normally. There's no fee for the amount the user would have been able to purchase in the ICO without my contract's help. The contract works by placing a bounty on the execution of the "buy" function, which buys tokens during the ICO. Anyone can call the buy function once the ICO has started to claim the bounty, although they'll be competing with me to be first! As my contract has been whitelisted by the Status devs, it isn't restricted by the 50 GWei gas price limit, so the bounty is likely to be won on the first block of the ICO by the "buy" caller willing to pay the most in gas. I've had a $2,000 bug bounty posted for two days now, but that doesn't mean you should just throw your ETH at my contract! Exercise caution and recognize that there's always risk to using smart contracts. Users attempting to contribute more than 30 ETH will have their transaction fail. This restriction is meant to limit whales from eating up all of the tokens and only leaving scraps for the normal users my contract is meant to empower. Additionally, users' "refunded" ETH can only be withdrawn along with their tokens, effectively locking contributed funds until the Status devs enable token transfers (1 week after the ICO). Users should only send ETH from an address that they own the private keys for. For example, MEW, Mist, and Parity are all fine, but you can't send from an exchange. To interact with my contract from an unsynced wallet, it's recommended to use at least 100,000 gas for each transaction. Users can withdraw their funds at any time before the ICO starts by sending a 0 ETH transaction to my contract with '0x3ccfd60b' as the transaction data. Once the ICO starts, users can call the "buy" function by sending a 0 ETH transaction with '0xa6f2ae3a' as the transaction data. Contract Address: 0xcc89405e3cfd38412093840a3ac2f851dd395dfb Contract Code: https://etherscan.io/address/0xcc89405e3cfd38412093840a3ac2f851dd395dfb#code Edit: Uploaded my contract address, as the Status devs have released their ICO address. Will update when they've finished an informal audit of my contract and confirmed my contract's initial SNT allocation. Edit2: Status' Jarrad Hope has confirmed a 500 ETH allocation for my contract! Edit3: Thread's back up! I had accidentally triggered the auto-mod by linking to Jarrad's post without a non-participation tag! _CapR_ set things straight, though, thanks mods! The temporary thread I set up got a few comments. Edit4: Heading out now! Be sure to help each other out in the comments! Edit5: Just as I was leaving, a small bug was found. Please do not add more ETH to the bounty. The bug will cause the last user to withdraw to not be able to withdraw their SNT/ETH. I've contributed to the contract myself and will not withdraw my funds, ensuring nobody else loses their funds to the bug. Edit6: I posted details on the effects of the bug. Edit7: Users should note that they can still withdraw before the ICO by sending a 0 ETH transaction to my contract with '0x3ccfd60b' as the transaction data. As a bug has been demonstrated in the contract, users should weigh the risks and carefully consider this option. Edit8: It worked! And the bug shouldn't be a problem now. Don't forget to withdraw your ETH/SNT in one week! Edit9: jvs_nz made a great post going over how my contract works and another one describing what the bug was and how it's been resolved. Edit10: I made another cute contract that sells SNT before it becomes tradeable. Edit11: SNT will become tradeable (and therefore withdrawable!) June 28th at 11:45:21 AM UTC. Edit12: If your wallet won't let you send a 0 ETH transaction, try adding '0x00' to the transaction data. Edit13: Withdrawals are live! I recommend using 200,000 gas! Edit14: j1mmie posted a screenshot of his successful withdrawal settings using MEW!
ICO Buyer Slack: https://join.slack.com/t/icobuyeshared_invite/MjI5MTY0Nzc2ODM2LTE1MDMyNDIxNjEtYzY4N2U2MDZjYg Looking forward to the Bancor ICO, but worried you'll oversleep or that your transaction will fail? Simply send ETH to my smart contract any time before the ICO and it will buy in for you! Once it's bought the tokens, you can withdraw them at your leisure by sending 0 ETH to the contract! No fiddling about with "watching contracts" or any of that nonsense. There's no fee if you wouldn't have missed the ICO anyways (i.e. if you withdraw your tokens within the first hour of the ICO) and there's only a 1% fee for withdrawals after the ICO has ended! You can also withdraw your entire balance at any time before the tokens are purchased by calling the "withdraw" function, which I tested in this transaction. The contract works by placing a bounty on the execution of the "buy" function, which buys tokens during the ICO. Anyone can call the buy function once the ICO has started to claim the reward (although they'll be competing with me to be first!) and anyone can contribute to increase the reward. I've personally added 10 ETH to the contract and .1 ETH to the reward! I recommend waiting for other devs to review the source code before sending the contract ETH. I'm posting a 3 ETH (~$1000) bug bounty for a show-stopping bug (like stealing funds ala the DAO) and a .3 ETH (~$100) bounty for smaller bugs (like incorrect token calculation). Contract Address: 0x6bd33d49d48f76abcd96652e5347e398aa3fda96 Contract Code: https://etherscan.io/address/0x6bd33d49d48f76abcd96652e5347e398aa3fda96#code Edit: Heading to bed now, thanks for all the comments and questions so far! Edit2: Over 100 ETH in the contract now! I'll make the buy call as soon as the ICO starts. If anyone else wants to know how to call "buy" themselves: you can send a 0 ETH transaction with "0xa6f2ae3a" as the transaction data and a gas price of at most 50 GWei. Edit3: 3 minutes to go until the ICO starts! Edit4: Looks like a few people posted the "buy" function, but with too little gas! Edit5: No blocks have been mined in over a minute, the suspense is killing me! Edit6: It appears someone is DDOSing the network with transactions above 50 GWei to prevent the Bancor ICO from working properly! Edit7: Posted a thread about the DDoS here: https://www.reddit.com/ethereum/comments/6gsf55/network_being_ddosed_with_50_gwei_transactions_to/ Edit8: Buy function has been called here: https://etherscan.io/tx/0x0bcf5d9c5ac1630f08af26a3406984e476b348d2384a0dde5e70d8c9341ec6c5 Congratulations to 0x58d58635c7c23d1417f27e4dc0b94bab1a8a1c0c who beat me to the punch by a few seconds! Edit9: It appears the Bancor devs have not yet enabled transfers of BNT. They may be running around with their hair on fire because of the DDoS. Once transfers are enabled, you'll be able to withdraw your tokens by sending a 0 ETH transaction to the contract. Edit10: It appears the Bancor devs may not enable transfers for around 1 week! When the tokens finally become tradeable, I'll manually send everyone back their 1% fee. Once the devs enable transfers, you can withdraw the other 99% of your tokens by sending 0 ETH to my contract. Edit11: Bancor devs say BNT becomes transferable June 22nd at 2 PM GMT Edit12: Transfers are live! You can withdraw your tokens now! :) Edit13: I'm refunding everyone who's withdrawn's fees in batches. You can track my progress here. You can compare with fees received by my developer address.
Daily analysis of cryptocurrencies 20190928(Market index 32— Fear state)
https://preview.redd.it/wy2qulbozbp31.png?width=960&format=png&auto=webp&s=198d99d7ba13997467f4183e98b5cdd8252ce02a New Spyware Replaces Crypto Wallets On Clipboard Via Telegram Amerian Internet infrastructure firm Juniper Networks has found new spyware that uses Telegram App to replace crypto addresses with its own. Moreover, the malware also includes a function that replaces cryptocurrency wallets from the clipboards with the one by the attacker’s party. According to the report, the spyware’s clipping supports a number of major cryptos such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC), among others. Homeland Security Awarded Funds To Austrian Company Creating Compatibility For Blockchain Efforts The Department of Homeland Security awarded a $143,000 other transaction solicitation Sept. 27 to an Austrian company to create compatibility for the agency’s different data formats and blockchain efforts throughout the department. The money was awarded by the DHS Science and Technology Directorate (DHS S&T) to Danube Tech GmbH to develop blockchain security technology as the department seeks to combat forgery and counterfeiting. According to the news release, U.S. Customs and Border Protection, Transportation Security Administration and U.S. Citizenship and Immigration Services all have responsibilities for data that can be secured using blockchain. These agencies are responsible for processes like identity verification, immigration status, employment eligibility and supply chain security. Using blockchain and distributed ledger technology (DLT), the agencies could issue credentials digitally, which would “enhance security, ensure interoperability, and prevent forgery and counterfeiting,” the release said. Libra Association Continues Push For European Acceptance Libra Association meant to manage and handle the debut of Facebook’s proposed cryptocurrency Libra has been dealing with some setbacks involving its acceptance, especially from Germany and France, who say they won’t allow the currency to move forward. Reuters is reporting that despite the opposition, the association is still talking to European Union regulators in an attempt to release the currency by 2020. Perez, who worked in a senior-level position at PayPal before joining Libra, is working diligently to overcome the regulatory and oppositional obstacles facing the currency. Depending on how much progress he makes, the cryptocurrency could launch as early as June of 2020. He also said that a delay of a quarter or two wouldn’t be a big problem. Stablecoin Regulations Would Need To Eliminate Risks Regarding Liquidity Of Underlying Assets, Claims IMF As Central Banks across the world start looking into cryptocurrencies and DLT to see how feasible a fiat-backed digital currency would be, the IMF (International Monetary Fund) has now entered the conversation as well, publishing a blog post exploring the advantages of a privately issued stablecoin, one which is backed by central bank reserves. The biggest problem governments are likely to face with such a plan is their lack of expertise with regards to intuitively designed and efficient platforms. And while Central Banks are not likely to approve a fiat-backed digital currency, an offering like USDC or Facebook’s Libra, could simply be more efficient. The IMF says that regulations will need to eliminate risks regarding liquidity of the underlying assets and that they should be protected from other creditors, if the stablecoin provider goes bankrupt.
Encrypted project calendar（September 28, 2019）
ADA/Cardano:Cardano (ADA) Cardano (ADA) 2nd Anniversary, Cardinal Foundation, IOHK and EMURGO main members will participate in community celebrations in Plovdiv, Bulgaria on September 28.TOP Network (TOP):The TOP Network team will hold a hackathon in Prague, Czech Republic from September 28th to 29th.Horizen (ZEN):Horizen project BD Rep Vano Narimandize will discuss the current status and development of sidechain technology at the Industry 4.0 Blockchain Summit on September 28.
Encrypted project calendar（September 29, 2019）
GAME/GameCredits:GameCredits (GAME) is expected to perform hard forks on September 29th at block height 2519999
Encrypted project calendar（September 30, 2019）
INS/Insolar:Insolar (INS) will be on September 30thERD/Elrond:Elrond (ERD) will conduct main network test on September 30thNULS/NULS:The NULS team will plan to beta the ChainBOX in the third quarter.CS/Credits:Credits (CS) will exchange tokens and bug rewards in the third quarterQTUM/Qtum:Quantum Chain (QTUM) is expected to complete lightning network beta in the third quarterXEM/NEM:New World Bank (XEM) will release mobile wallet and computer wallet in the third quarterHC/HyperCash: hypercash (HC) will complete community management agreement in the third quarter
Encrypted project calendar（October 01, 2019）
HT/Huobi Token:The financial base public link jointly created by Firecoin and Nervos is expected to be open source in October.RVN/Ravencoin:Ravencoin (RVN) Ravencoin will perform a hard fork on October 1.SHND/StrongHands:StrongHands (SHND) SHND 1000: The 1st currency exchange event will be held on October 1.ADA/Cardano:Cardano (ADA) plans to hold technical consensus meeting in Amsterdam on October 1stXRC/Bitcoin Rhodium:Bitcoin Rhodium (XRC) will record account balance awards on October 1stPPC/Peercoin:Peercoin (PPC) will perform Peercoin v0.8 (code tang lang) hard fork on October 1st
Encrypted project calendar（October 02, 2019）
BNB/Binance Coin:The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign.BTC/Bitcoin:The B.Tokyo 2019 conference will be held in Tokyo from October 2nd to 3rd.CAPP/Cappasity:The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.
Encrypted project calendar（October 03, 2019）
ETC/Ethereum Classic:The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4ANT/Aragon:Aragon (ANT) is the AGP for the new mandatory community review period, with a deadline of October 3.
Encrypted project calendar（October 04, 2019）
KNC/Kyber Network:Kyber Network (KNC) will update the maxGasPrice parameter in the Kyber Network contract from 100 gwei to 50 gwei within 2 weeks after October 4.
Encrypted project calendar（October 05, 2019）
Ontology (ONT):Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network.
Encrypted project calendar（October 06, 2019）
SPND/ Spendcoin:Spendcoin (SPND) will be online on October 6th
Encrypted project calendar（October 07, 2019）
GNO/Gnosis:Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.
Encrypted project calendar（October 08, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（October 09, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
Encrypted project calendar（October 10, 2019）
INB/Insight Chain:The Insight Chain (INB) INB public blockchain main network will be launched on October 10.VET/Vechain:VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10.CAPP/Cappasity:Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).
Encrypted project calendar（October 11, 2019）
OKB/OKB:OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”
Encrypted project calendar（October 12, 2019）
BTC/Bitcoin:The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th.
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash:The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token:Ruff will end the three-month early bird program on October 15thKAT/Kambria:Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15.BTC/Bitcoin:The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin:The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th.MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16.ETH/Ethereum:Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades.QTUM/Qtum:Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.
BTC continued its downward trend from yesterday to today, dropping to around $7,800. In the past 24 hours, the net outflow of BTC funds exceeded US$300 million, and the outflow of market funds has a trend of enlargement. BTC fell below $8,000 at one point in the morning, then rebounded quickly back above $8,000. Short-term market is still expected to be dominated by large-range shocks. If the $8,000 barrier is not held, it is possible to test support around $7,500 below. In terms of operation, the stage bottom still needs time to polish. It is suggested that the storage space should be controlled at about 50%. Review previous articles:https://medium.com/@to.liuwen Telegram： https://t.me/Lay126 Twitter：https://twitter.com/mianhuai8 Facebook：https://www.facebook.com/profile.php?id=100022246432745 Reddi：https://www.reddit.com/useliuidaxmn LinkedIn：https://www.linkedin.com/in/liu-wei-294a12176/
Introduce miner heuristic "Child pays for parent" (like in BTC) to combat the weird cases when transactions with 1000 Gwei stuck in the mempool (because they are dependent via nonce on transaction paying much less and not getting mined).
Gavin put the Yellow Paper under the Creative Commons Free Culture License CC-BY-SA. Yoichi and Nick Savers have been making progress handling the Yellow Paper PRs. There is still the somewhat unresolved issue of what should define the "formal standard" of Ethereum and should an update to the Yellow Paper or another specification be required for every new EIP. This can be discussed in more detail in future meetings when there is greater attendance.
[7:43] 3. EWASM update + update on the following related EIPs.
Ewasm contributors are currently meeting in person together in Lisbon. EWASM EIPs listed in the subpoints are not up to date and can be disregarded. People should use the github.com/EWASM/design repo. The design has been pretty much speced out in the last year. During the design phase there were 2 implementations done in parallel: Javascript and C++ (which can be integrated in cpp-ethereum and geth). Issues have been faced in building out EWASM including struggling with implementing synchronous code in Javascript/browser. Idea was to move to an asynchronous model. Currently there is not a full decision on using synchronous vs asynchronous, but we are leaning towards synchronous implementation in C++ to run a testnet in cpp-ethereum that can run pure Web Assembly contracts. Metering contract in Web Assembly is on the to-do list and doesn't rely on sync/async decision. Likely will take week to come to a decision on sync vs async. More technical discussion and a funny anecdote involving the asynchronous vs synchronous decision and the affects of the recent Spectre/Meltdown attacks start at [12:07].
This doesn't have to do with EWASM, it has to do with adding extra opcodes in the current EVM. It is an upgrade to EVM 1.0 which is not needed if we skip straight to EWASM.
Greg has been working with Seed (Gitter tag) who is writing an ELM formalization of the EIP. Greg says that there is no formal social process for deciding things like EVM 1.5 implementation so he is not sure if/when it would be implemented. Greg has been working on cleaning up the proposal for those who want to use it. Greg has some ideas around an EVM 3.0 that pulls everything together with transpilation that he hasn't started working on yet and is not sure if he will.
Piper left some comments about some development of a stateless client for sharding, but it is very early. Alexey had a blog post describing stateless clients he may re-approach later.
This topic was brought up months ago with mixed commentary. Christian R. says that ECADD and ECMUL were never intended to be used for general purpose cryptography, but rather it was suppose to be used in conjunction with the pairing pre-compiles for a specific curve that is pairing friendly. Christian says that in the past it has been discussed that there must be a very compelling reason for adding a pre-compile to Ethereum. Silur mentioned that the Monero research team is working on a new ring signature (still unnamed) that can be viewed in the Monero repository. The EWASM team may run some tests to compare native running of the pre-compiles vs EWASM. Adding a new pre-compile would only give a constant speed-up or reduction in cost, but if we achieve the same thing in new virtual machine it will give us a constant speed-up for every conceivable routine and allows for building other schemes like Casper and TrueBit. This is easier with Web Assembly because we can use existing C code. For the moment it looks like focusing energy on adding these proposed pre-compiles would not be worth it compared to just waiting for the next VM (likely EWASM) which will allow far more speed-ups across all computational routines.
[37:00] 6. Introduce miner heuristic "Child pays for parent" (like in BTC) to combat the weird cases when transactions with 1000 Gwei stuck in the mempool (because they are dependent via nonce on transaction paying much less and not getting mined).
[Note: I tried my best to cover what was discussed here, but I am not an expert in Ethereum transactions. If you find a mistake please point it out to me. Thanks!] Agenda item brought up to get people's opinion on this topic. Currently in Ethereum there are transactions that are stuck in the mempool for a long time because of the way transaction ordering per account is handled. The nonce of a transaction must be greater than the previous mined transactions (or equal if you are trying to replace a transaction). For example you can't process transaction #27 before transaction #26 has been mined. Many of the stuck transactions are dependent on other transactions that pay a much smaller fee, but are not being mined. It seems people inadvertently send an initial transaction with too small of a fee and then more transactions at a higher nonce with a much higher fee that cannot be processed until the first small fee transaction is processed. Alexey wondered if this may pose an attack vector or if we would get a benefit from implementing "child pays for parent" like Bitcoin does. Peter explained even if you define the max amount of gas your transaction could potentially consume, there is no guarantee it will use that much and we won't know until the transaction is processed (the only guarantee is that 21,000 gas will be consumed - a plain ether transfer). The attack vector example would be someone pushing a transaction that truly consumes 3,000,000 gas and attach a transaction fee of 1 wei and then push another TX that claims to consume 3,000,000 gas but with a transaction fee of 1000gwei. From the outside it looks like I can both can be executed for profit from the miner's perspective, but in reality the 2nd transaction will be processed first and the 1st tx will be long running and indirectly punish the miner. Alexey was concerned about the mempool filling up and impact on clients due to the way nonces are handled. Peter clarified that transactions in the mempool in the go ethereum client only maintains the top 4,000 most expensive transactions. If your cheap transaction gets evicted, the expensive transactions you stacked on top of it get evicted as well because they are no longer executable due to the nonce.
A relay network in general is a group of peers and/or miners who use a peer list to quickly connect to a group of known peers before connecting to (or instead of connecting to) random peers using network discovery. Alexey conjectured that this may create a powerful ring of network players who can share transactions very quickly and hurt the little guys on the outside (hurting the idea of this being a mesh network of peers). Clarifications were made about the issues involving transaction propagation issues with nodes with high transaction throughput such as Infura and Bittrex. Clients suddenly stop pushing transactions or cannot keep up with the blockchain when they are pushing out so many transactions. Hudson will work towards exploring this issue more and connecting the people with the issues with the devs.
Hudson will be working on writing up a starting plan to discuss potential release management issues. BitsBeTripping sent Hudson some good material about project management that he will review and bring to the next meeting. We need to start discussing Constantinople sooner rather than later.
geth - Improved tracing APIs so people can write their own JavaScript tracers. Event and subscription Go wrappers are also coming along (they are similar to the Go wrappers you can generate for contracts when entering the Solidity code or ABI). Geth performance improvements are a major focus including a scheme to reduce disk IOIs database writes by about 60% (first proposed by Nick) which will help your disk fill up 1/3 as fast (will not help improve sync time from scratch). Also looking at some garbage collection ideas which reorganizes the database. The issue is that it may clash with fast sync. They want to design a solution that doesn't mess with, or in coordination with other clients update, fast sync. They are also fixing a memory issue that happens during sync.
cpp-ethereum - Andrei is working on snapshot imports. Fixes and updates to EVM-C to make EWASM integration easier.
Parity - No one available to give an update.
Harmony - Started to work on Casper implementation and working on performance improvements. There are some unexpected difficulties. Database improvements will come first, then the next release should reduce memory footprint and improving processing speed. No estimates yet on the next release, but database improvements are #1 priority.
ethereum-js - No updates. Entire ethereum-JS team focused on EWASM currently.
pyEVM - No one available to give an update. Piper left a text update: Implementation of full node sync in pyEVM is under way. Stateless client work is ongoing as is implementation of a simplified ethgasstation gas estimation algorithm is in progress for web3.py. Alpha release of pyEVM client is happening soon. Sharding and research development continues.
TurboGeth - Plan is to experiment with optimizations in geth. Analysis to decrease the state size on the disk by decreasing the repetition of hashes in the stored state in ongoing. The goal is to store as much of the state as possible in memory. [1:00:40] discusses this in more detail as well as some stats on full nodes. There is a blog post update
10. Other non-agenda items
[1:05:42] Question: Will we see any scaling improvements from Constantinople?
Answer is no because it potentially includes the first steps of the Casper consensus protocol and some account abstraction EIPs, but both of those do not alleviate scaling issues. Sharding would alleviate some of the issues. We are currently mostly bound by database and processing speed due to the database. Short term there are a lot of client improvements that can be accomplished to improve disk I/O, but long term things like sharding will be necessary. The Eth Research site has a lot of interesting threads about sharding including merkle tree formats to be used and ideas around asynchronous accumulators
Needs to be improved. Hudson and others will work on updating EIP #1 and other improvements in Q1. Nick Savers has been added as an EIP editor. Yoichi has been added as an editor. Both are doing a great job.
Attendance
Alex Beregszaszi (EWASM/Solidity/ethereumJS), Alex Van de Sande (Mist/Ethereum Wallet), Alexey Akhunov (Turbo Geth), Ben Edgington (Consensys/Pegasys), Casey Detrio (Volunteer), Christian Reitwiessner (cpp-ethereum/Solidity), Daniel Ellison (Consensys/LLL), Greg Colvin (EVM), Hudson Jameson (Ethereum Foundation), Hugo de la Cruz (ethereumJS/EWASM), Jake Lang (EWASM), Jared Wasinger (ethereumJS/EWASM), Martin Becze (EWASM), Mikhail Kalinin (Harmony), Paweł Bylica (cpp-ethereum/EWASM), Péter Szilágyi (geth), Silur (ethereumJS / EWASM)
Dear 0xers, We should've done it before, but here it is, a megathread for the token sale. I will put all major updates in the OP so that all can have access to the information posted on other mediums. Please ask Token sale related questions here, so it's easier to filter out duplicates and all.
SALE IS OVER, please do not send more funds.
The sale has ended. Thank you all for the participation! We will get OTC back online ASAP.
Concerning day #2
Day 2 starts at 8h00m12s PT today, August 16th.
Many people asked, and yes, you can send your ETH directly to the smart contract at zrxsale.eth. No need to pass via our custom participation page.
The contract is the same as yesterday (zrxsale.eth)
If you purchased maximally yesterday, then you can only purchase for 13.35444 ETH.
There are no gas price limit.
Only registered addresses can participate.
If you have trouble with sending funds, look the problem section betow.
UPDATES (from most recent to oldest)
Almost 400m ZRX tokens sold (80%) in 22h. (Edited at 6h00 PT)
300m ZRX tokens sold (60%) so far. (Edited at 17h37 PT)
MEW temporarily disabled viewing default tokens EXCEPT ZRX due to the servers being overloaded. (Edited at 16h24 PT)
Metamask can't handle the load. ZRX tokens won't show and might not be possible to send ETH. (Edited at 10h50 PT)
Token Sale started. (Edited at 8h45 PT)
ETH/USD price has been locked in at $283.53! The purchase cap per address on day 1 of the ZRX sale will be 6.677221 ETH. (Edited at 4h30 PT)
Contribution tutorial available here(Edited at 4h20 PT)
Individual Cap for first 24h has been revised to 1893$ per address. (Edited at 4h20 PT)
Token Sale will start 8am PT on August 15th. See here for more information. (Edited at 14h20 PT)
Tutorials will be posted soon. (Edited at 14h20 PT)
Registration closed with 13,793 registrations. First individual hardcap will be $1,736 for the first 24h. (Edited at 14h20 PT)
Participation Common Problems/Questions and Solutions
"Out of Gas Error" Try to put the gas limit at 230K. "Connecting to Blockchain Forever" : This step might take 5-10 minutes. Please be patient. "I Got 99 Errors and I'm Tired of This Shit" : You can send your ETH directly to the crowdsale address here. DOUBLE CHECK THAT THE CONTRACT IS THE RIGHT ONE BEFORE SENDING, ALWAYS. "Can I send more than 1 transaction?": Yes, as long as the sum of all your contribution is below the daily limit. "Metamask is unresponsive of always give me errors" It seems like Metamask can't handle the current load and transaction that failed might be blocking subsequent transactions to be sent (nonce related problem). The best solution is to use another wallet. Here's the simplest way via MEW:
You can edit gas price in the header as well. Drag slider up towards 60 if you need it to go through now
But where did my tokens go?
We have temporarily disabled viewing all tokens by default except ZRX due to the servers being overloaded because people were using MEW to check token balances and somehow managed to check 4M balances in like 15 minutes which is nutty and expensive. If you need to check other token balances: you can add custom token or wait a few hours until we bring them back. If you were having issues loading all balances: this should be resolved, or try a differnt network (etherscan / infura) via the dropdown in top-right corner
→ A Japanese Telecom Giant Wants to Use Blockchain to Store Contracts - CoinDesk Nippon Telegraph and Telephone is looking to invent a new contract agreements system based on blockchain technology. → OKEx, Malta Stock Exchange Partner to Develop Security Token Trading Platform OKEx has partnered with the Malta Stock Exchange to develop a security token trading platform headquartered on "Blockchain Island." → JPMorgan Wants to Use Blockchain to Issue ICO Tokens JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue ICO tokens. Gas Price Up, Referendum II on Hold. RSB2 token distribution ended yesterday! Because of the price volatility of Ether transactions and our desire to keep voting cost low for our community members the voting date has not yet been set. However, the market seems to be stable. We will closely monitor gas price during the weekend & the voting date will be announced as soon as possible. Ethereum Average GasPrice Chart Source: Etherscan.io Daily Performances The technicals, news flows and decent pick up in volumes all show positive signals. Slight pull backs are expected but if $6800 on BTC holds the next upside target is the $7500-$7800 levels. So far the rally seems to be led by BTC as can be seen by a large drop in ETH/BTC spread to 0.062 (levels not seen since April), except for Stellar which continues to outperform the market. It may take some time to get broader market buying but this will signal a much stronger momentum. Weekly Top 5 Price comparison - BTC. - ETH - XRP - BCH . - EOS --------------------------------------------------- https://preview.redd.it/vuftdzhz02b11.png?width=1042&format=png&auto=webp&s=d575819089b4caf72ac39dad28996a8ad4becd64 Technical Analysis -BTC BTC has now broken the Head & Shoulders neckline at $6,870 and has rapidly moved past beyond it. The target of the formation is around $7,900 so we expect to reach that level in the next days/weeks. This is very positive overall on a medium to longer term perspective, the next major hurdle is the $8,000 level, where BTCUSD will meet a downtrend that has proven difficult to surpass last time. https://preview.redd.it/6e81gfa412b11.png?width=1310&format=png&auto=webp&s=9b6393260fc0f29fcfd95fad5bf28bb6c18b42d9 -------------------------------------------
Thursday, 19. July 2018
→ U.S. Congress Strikes Positive Tone on Cryptocurrency in Latest Hearing A U.S. House subcommittee struck a postive tone on cryptocurrency during a hearing held on Wednesday in the nation's capitol. → Stellar (XLM) Skyrockets 30% to Reach 2 Month-High Stellar Lumens surged to the top of the cryptocurrency gainers on Wednesday as the price soared to a two-month high of around $0.31 at press time. → Bitcoin Volume at $6.4 Billion, Up 2x Since Last Week as Crypto Market Surges Volume of bitcoin, the most dominant cryptocurrency in the market, has risen by two-fold in a week, supporting recent mini bull rally of crypto market. → These Digital Monsters Live on Ethereum, But They'll Fight on Zilliqa A popular decentralized game couldn't take ethereum's slow, costly transactions. But it's not leaving the chain behind entirely. Gas Price Up, Referendum II on Hold. RSB2 token distribution has begun yesterday! Distribution will take place over the next 2 to 3 days. Because of the price volatility of Ether transactions and our desire to keep voting cost low for our community members the voting date has not yet been set. We are closely monitoring gas price & the voting date will be announced as soon as possible. Ethereum Average GasPrice ChartSource: Etherscan.io https://preview.redd.it/4vv0b0f06va11.png?width=1161&format=png&auto=webp&s=e64c43396b3e321798f806c564101fa243df552c Daily Performances The technicals, news flows and decent pick up in volumes all show positive signals. Slight pull backs are expected but if $6,800 on BTC holds the next upside target is the $7,500-$7,800 levels. So far the rally seems to be led by BTC as can be seen by a large drop in ETHBTC spread to 0.065 (levels not seen since April), except for Stellar which has seen strong outperformance over the last week (XLM +60% vs BTC +18%). It may take some time to get broader market buying but this will signal a much stronger momentum. Weekly Top 5 Price comparison - BTC. - ETH - XRP - BCH . - EOS https://preview.redd.it/o58wiw856va11.png?width=1044&format=png&auto=webp&s=1a953f6eff0981dc421681e75c8ee804a7dc89ce Technical Analysis -BTC BTC has now broken the Head & Shoulders neckline at $6,870 and has rapidly moved past beyond it. The target of the formation is around $7,900 so we expect to reach that level in the next days/weeks. This is very positive overall on a medium to longer term perspective, the next major hurdle is the $8,000 level, where BTCUSD will meet a downtrend that has proven difficult to surpass last time. https://preview.redd.it/2116ms496va11.png?width=1312&format=png&auto=webp&s=9d44a29ccd0255f59aa4f8a3375edca9c91ee210 ---------------------------------------------------------------
Wednesday, 18. July 2018
→ Japan Revamps Financial Regulatory Agency to Address Issues in FinTech, CryptocurrenciesJapan has overhauled its financial regulator, the FSA, in order to better deal with fintech-related fields, including cryptocurrencies, news outlet Nikkei Asian Review reported July 17. → Bitcoin Mining Giant Bitmain Opens 20,000 Sq. Foot Office in Silicon ValleyBitmain, the cryptocurrency industry’s most valuable company, has just opened an office in Silicon Valley ahead of its planned initial public offering (IPO) later this year. → Mastercard Wins Patent for Speeding Up Crypto PaymentsMastercard won a U.S. patent on Tuesday for a method of speeding up cryptocurrency payments.→ Coinbase Says It Now Has Regulatory Approval to List Security TokensCoinbase has reportedly received regulatory approval to acquire several securities firms – a move that could eventually see it supporting trading in tokens deemed as securities. Gas Price Up, Referendum II on Hold. The Gas is coming down and has reached a SafeLow of 4 Gwei today with a Time to Confirm of 0.8 min which is higher than yesterday. It does not seem stable enough at the moment and your vote may be expensive, which would make the referendum useless. We will keep you updated! Ethereum Average GasPrice ChartSource: Etherscan.io https://preview.redd.it/2pfud8x29oa11.png?width=1182&format=png&auto=webp&s=d27349fd068beb168267367b99af09b9d7fbf1be Daily Performances After having seen what may have been capitulation down to $5,800 at the end of June, BTC had stablized and begun to see some positive momentum. As we have mentioned previously, for choice the risk had been a large gap to the upside, and the reverse head and shoulders formation and the break above the key $6,800 level has catapulted BTC higher overnight. Although thin volumes still indicate a lack of large market participation and conviction, resilience to negative news of late and a slew of mainstream interest in crypto assets (ETFs, hedge funds, etc) should keep the market buoyant. With what appears to be a clear reduction of market overhang, the market is poised for further gaps up on back of positive news flows. Weekly Top 5 Price comparison - BTC. - ETH - XRP - BCH . - EOS https://preview.redd.it/cshwrmn79oa11.png?width=1044&format=png&auto=webp&s=abc9c5af540d5882a1d5ff21137bd7a10d5560f1 Technical Analysis -BTC BTC has now broken the Head & Shoulders neckline at $6,870 and has rapidly moved past beyond it. The target of the formation is around $7,900 so we expect to reach that level in the next days/weeks. This is very positive overall on a medium to longer term perspective, the next major hurdle is the $8,000 level, where BTCUSD will meet a downtrend that has proven difficult to surpass last time. https://preview.redd.it/saofyh8g9oa11.png?width=1312&format=png&auto=webp&s=19ea688d1ab12eec4d52e883ebf243e2debc8518 ------------------------------------------------------------
https://status.im/ Mainstream Adoption One of the biggest complaints I have heard about Ethereum is that the tech is too complicated and slow to sync for mainstream users. I was able to download/install Status from Google Play, sync, and interact with a chatbot to create a testnet wallet in less than 15 minutes. It uses a go-ethereum light client in order to sync very fast. https://play.google.com/store/apps/details?id=im.status.ethereum&hl=en Status functions as a mobile messengebrowsewallet that allows users to connect socially and to interact with dapps in the Ethereum ecosystem. This is the one-stop-shop for mainstream users to adopt Ethereum tech on their mobile device. A New Standard for Crowdsales Status has been self-funding since 2015, and they have a functional alpha product running on testnet, with 6000+ testers. We should expect a battle-tested team and a functional product for every project before we send them thousands of ETH in a crowdsale. How many of these crowdsales are already setup with documentation on how to install and test an alpha dapp? http://docs.status.im/#introduction The SNT token https://status.im/whitepaper.pdf This will be a usage token within the app that can be used for:
required by Stakeholders to select and receive push notifications.
to vote on proposals related to the direction of the Status project
to register a username on the Status Network.
chat rooms can have minimum SNT holdings required in order to join
A user can set a minimum SNT deposit required to send him/her a message. For example, Vitalik could require minimum 10k SNT to send him a message. If he replies to your message, he receives the 10k SNT reward.
used as weight for upvoting/downvoting content
used as weight for highlighting a certain dapp in the dapp directory
used to make deposits in a user-acquisition market. For example, a dapp developer wants to drive users to their dapp, so they use SNT to pay people who refer users
The BTC-Killer App for Status Dapp Status Teller Network. This will be like a decentralized version of Localbitcoins for peer-to-peer trading. SNT will be required to become a seller. This is huge! One of the biggest use-case advantages BTC has over ETH is p2p trading markets (most of which are centralized). The Crowdsale The crowdsale starts on 17 June: http://contribute.status.im/ Here are the crowdsale smart contracts: https://github.com/status-im/status-network-token/tree/mastecontracts
12m CHF soft cap -> after soft cap is hit there will be a series of "dynamic ceiling" hidden caps revealed until the final hidden hard cap. If a transaction is greater than 1/30 of the supply of each dynamic ceiling allocation, it will be rejected
maximum gas price per transaction of 50 Gwei
Status Genesis bounty token (SGT) holding addresses will be whitelisted and given priority over normal addresses
300k ETH failsafe cap (only hit in the very unlikely event the hidden cap system fails)
Some lessons learned from the Status DDoS incident
I've monitored the Status DDoS issue closely and have reached 5 conclusions about what happened and would like to share my view point on why this isn't a problem for Ethereum. The DDoS was the result of at least 5 different (and easily fixed) defects: (1) One of the primary factors for the DDoS has to do with the design of the Status contracts. The choice to use dynamic ceilings introduced an unanticipated perverse incentive to engage in transaction splitting. As the higher-value transactions risked being rejected by the dynamic ceilings, the larger contributors were encouraged to split their transactions and distribute their stake as widely as possible. This created two negative externalities, notably point 2-3, as explained below. It was on account of these design choices that unsustainable race conditions were being generated in the mempool, which served to drown out a vast majority of competing transactions. I suspect this was a very useful learning experience for most of us. I have no doubt contract developers will devise new ways to address this issue going forward. New crowdsale models have already been worked out here and here. Hopefully, we'll be able to take advantage of these and many other strategies to reduce network load. (2) The mempool settings on the different clients were set too low by default. This is the data structure responsible for storing all the pending transactions. When the total transactions exceed the mempool limit, they can get evicted from the mempool. This is why we had many users reporting "transaction not found". It was due to this issue that many people started spamming the network to get transaction priority. This was one of the larger causes for the congestion. If everyone just restricted themselves to 1 transaction, the queue would have been orders of magnitude smaller and a larger number of people would've got in. In the future, the mempool limit will be increased by miners, e.g. by using the following flags:
geth --txpool.globalslots VALUE parity --tx-queue-size LIMIT
(3) A number of users deliberately exploited the mempool deficiency to front-run their transactions with one of the larger mining pools (F2Pool). As explained here, F2Pool prioritized their transactions and manipulated the mempool to deny others the ability to fairly compete with the front-runners. No doubt many will have noticed the disproportionate >50 Gwei transactions. This wasn't a simple result of stupidity, as some have said. Those transactions were submitted deliberately to the mempool to eliminate the vast majority of legitimate sub <50 Gwei transactions. I expect this behavior to become less and less prevalent in the future as more and more users become informed about these tactics and stop using this malicious pool. I strongly believe we should make a concerted effort to boycott F2Pool in particular. (4) As discussed here, here, and here, there are / were two large mining pools that have been unnecessarily restricting the dynamic gas limit (F2Pool and DwarfPool). Basically, they've been artificially limiting the number of transactions that we would be able to include in each block (against the express wishes of the developers and community). The community has since convinced most pool operators to scale up the gas limit as intended. The next ICOs should be far more performant as a result. (5) Finally, it's obvious the Ethereum network has much more work to do to facilitate higher transaction capacity and throughput. We're all still in the early beta stages of this project and Ethereum has grown much quicker than its developers intended. It's important for users to re-adjust their expectations accordingly. Scalability has always been one of the most important research topics on the development roadmap. Many developers are working on this issue. It will be solved in good time. In the near term, we can expect off-chain state channels to be rolled-out some time this year. This will drastically increase network performance. In the long-term, we can expect functional proof-of-stake in 1-2 years and on-chain state sharding in roughly 2-4 years. At that point, assuming all these solutions go as planned, Ethereum will scale to millions of transactions per second. It's important to step back and look at the bigger picture. A lot of blame has been thrown around against the Status project and the Ethereum network as of late. In my view, much of the criticism is a result of misunderstanding. As I've tried to express above, the DDoS was a complex coordination problem. The guilt should be shared to different extents by the Status team, the client developers, the operators of F2Pool and all other miners who willfully manipulated the mempool, in addition to all the users who spammed the Ethereum network. This was a tragedy of the commons type of situation. Practically everyone was at fault, some more than others. It would be best to acknowledge that sooner than later so that we can move on without bitterness and cooperate to prevent this kind of outcome in the future.
Log of AMA with mercuryprotocol.com - @kyle-mercury (Kyle Fiouzi), @peekay (Preethi Kasireddy) @iconn-mercury (Ian Connelly) @evannico-mercury (Evan Albert) and @elliot-mercury (Elliot Sperling)
dr10Let us all welcome the team from Mercury Protocol @kyle-mercury (Kyle Fiouzi), @peekay (Preethi Kasireddy) @iconn-mercury (Ian Connelly) @evannico-mercury (Evan Albert) and @elliot-mercury (Elliot Sperling). You can all start asking them questions. I'd ask team from Mercuryprotocol to use @ username to the one they are responding to and I'd like to ask all the community to give them some time to catch up if too many questions in backlog, before asking more so questions don't get lost. Thank you! (edited) bradmke Who is the target market for the apps that will be using the protocol? Business or consumer or other? tranzer Will protocol run on Ethereum or are you developing your own blockchain in the future? kyle-mercury @tranzer The Mercury Protocol is built on the Ethereum blockchain evannico-mercury @bradmke The target market for the apps that will be using the protocol is really up to those application developers. We see a wide variety of use cases across different communication platforms. tranzer How is Mark Cuban involved in all of this? Just marketing or anything more? Eric Can you describe some of those use cases? kyle-mercury For more context about our project, the Mercury Protocol is a suite of smart contracts and recommended best practices that enable a more secure, more private social network to form on the blockchain, instead of isolating the network in centralized servers. The protocol is designed to be the future of communication platforms built on the Ethereum blockchain. By creating a tokenized social ecosystem on the Ethereum blockchain, applications can leverage tokens to incentivize meaningful interactions while users can utilize them to gain access to premium services. The Global Messaging Token is an ERC20 utility token built on Ethereum. When applications build on the Mercury Protocol, they can charge GMT for premium services or award it to active users for positive participation. Website: https://www.mercuryprotocol.com/ Whitepaper: https://www.mercuryprotocol.com/files/Mercury_Protocol_whitepaper.pdf Vision Post: https://medium.com/mercuryprotocol/our-vision-for-mercury-protocol-77d59aaae6bb TL;DR The standard social networking model is outdated, so we built a protocol for others to join us in building the Social Network 2.0 on the ETH blockchain. ze_rusty What's the ETA for the token to hit the exchanges Haxtore decentralized social network? thats really cool kyle-mercury @tranzer Mark is a stake holder in Dust and the parent company that is developing Mercury Protocol, which will be open sourced. dr10 How does the mercury protocol differ from Status? tranzer Won't this bloat ETH even more? Danny joined #trading_altcoins. kyle-mercury @dr10 Status is a private messenger, Ethereum DApp browser, and ETH wallet. They call themselves a “mobile Ethereum OS”. In essence, Status functions similar to an app store for Ethereum DApps while providing additional services like encrypted 1-to-1 messaging and ETH wallet management. Status has a similar vision to ours in that they want to build a decentralized network where users own their own data, and the Status Network supports SNT Tokens which can be leveraged in many of the same ways as Mercury Protocol’s GMT. One major difference between Status and Mercury Protocol is that while Status is only for DApps, Mercury Protocol is for any application (centralized or decentralized, mobile or web). More importantly, Mercury Protocol is not a mobile "OS". Instead, it's a "protocol" in the sense that it is a suite of Ethereum smart contracts (for GMT tokenization features and reputation system) and APIs (transaction processing, encryption services, smart contract management services, etc.) that defines how various applications can enable (1) tokenization via GMT, (2) decentralized identity management, (3) decentralized and ownerless content management and (4) decentralized reputation system. For example, we have a "Premium Distribution" smart contract that lets any application create a feature to enable "premium distribution" of content, where a user provides X amount of GMT to distribute their content to Y number of users. All of the logic for this tokenized feature is handled within the protocol's smart contracts, including how to store and retrieve content, and how to distribute tokens among content creators and content consumers. And an application developer simply needs to interface with the contracts to be able to use this feature in their own application. Or another example is where we have contracts that handle the token reward system (e.g. Reward user X amount of GMT for being active for Y days). The contract is responsible for trustlessly distributing tokens when the application developer invokes these contracts with the right parameters. These are just the simplest examples, and we're continuing to expand the set of contracts to handle various types of complex and interesting interactions. Many communications and messaging applications have somewhat common interactions (e.g 1:MANY message broadcasting, 1:1 conversations, 1:1 content sharing, 1:MANY content distribution, etc.). Our suite of smart contracts define how an application can carry out these interactions using a tokenized model. ante why would anyone want decentralized social network lol? 2 replies Last reply today at 9:13 PM View thread ante isnt the whole point in centralization? evannico-mercury @Eric Everything from application-agnostic communication to tokenization of features. For example in Dust, we plan to roll out Premium Distribution where you can use GMT to send content to a larger network. Boarded2Late @ante there is a market for social applications that do not expose you to outside snooping Boarded2Late decentralization improves security in some senses ante for example? Boarded2Late if you don't knwo which server my social network is on, you cannot learn anything about me Boarded2Late @kyle-mercury are you concerned about Ethereum Blockchain Bloat at all? kyle-mercury We believe that building out a tokenized social economy on the Ethereum blockchain will enable the next great leap forward for social networks and communication platforms. The Mercury Protocol is the basis for an alternative form of a public social network that works against the monetization of proprietary user data, thereby giving newer platforms a better chance of survival. This tokenized social economy allows applications to pool their user bases and grow with the network, thus significantly increasing their chances of success against the giants. rootbark who is responsible for filtering your content to avoid illegal content and copyright violations? bradmke Are users going to need to interact with tokens in these applications that are being developed? evannico-mercury @bradmke Again this one is up to application developers. I can say that the approach we are taking with Dust is to include the same functionality that our users are used to for free while adding premium features that require GMT. Haxtore how would we stop the making of a lets say darknet on the mercury platform? ante you cant stop it ante if it is really decentralized kyle-mercury @bradmke the Global Messaging Token is an ERC20 utility token built on Ethereum. When applications build on the Mercury Protocol, they can charge GMT for premium services or award it to active users for positive participation. The premium services provided is up to the application developer and the user market. Our goal is not to govern the direction of services or application development, but to provide the foundation for an ecosystem that doesn’t rely on the monetization of user data to sustain itself. We strongly recommend applications devote most of their received GMT to be awarded to users taking meaningful actions specific to the application. This creates a self-sustaining token ecosystem that rewards both users (for participating) and development teams (for providing services). Boarded2Late @kyle-mercury so the overall strategy is to allow those who maintain and run social networks to begin incentivizing their particular flavor of interaction, is that kind of your thinking? ze_rusty when are the tokens tradable? evannico-mercury @ze_rusty tokens are transferable immediately bradmke If an application is going to reward me with tokens, don't I need a wallet to store them? elliot-mercury @rootbark @Haxtore that is a pretty inherent problem to decentralized platforms as @ante said ante it isnt really a problem elliot-mercury right syllogism do we know when a big exchange will list BTG? Kind of thinking waiting until that for a possible alt coin pump and then convert some to BTC 1 reply Today at 9:25 PM View thread kyle-mercury @Boarded2Late Yes, our protocol aims to solve the fundamental issues in the current messaging and social media industry in a way that can sustainably integrate with other communication technologies while incentivizing user participation with tokenization elliot-mercury @ante characteristic rather evannico-mercury @syllogism We have been advised not to comment on exchanges. ante nobody can censor anything on blockchain, you can put anything you want in bitcoin transaction description and it will remain forever ante you already have a darknet on btc blockchain lol ante hahaha tranzer So I still don't know how this won't bloat ethereum further? bradmke Other than speculation, is there a reason I should own Mercury tokens if I'm not using an app that can utilize them? Boarded2Late @tranzer I asked about this a bit earlier, but didn't receive a reply. This is an inherent issue to anything backed by Ethereum elliot-mercury @bradmke to address your previous question, yes you will need a wallet and we see that being handled at the application level, ie each application that integrates the protocol will help their users manage an in app wallet *rootbark ok just so I'm clear, you have no plans for centralized content filtering and you're just figuring it's a problem for any fully decentralized content system? elliot-mercury @Boarded2Late @tranzer yeah exactly, its an ongoing area of research though, and we hope to leverage a state channel solution in the future to alleviate the problem a bit Boarded2Late @elliot-mercury have you considered an ARK clonable chain in the future once the ARK VM is done? Boarded2Late obligatory :slightly_smiling_face: evannico-mercury @rootbark We have no plans to handle this at the protocol level. Content filtering will be more application specific. dr10 focus on questions/answers. thats what this is for. elliot-mercury @Boarded2Late have not! sounds enticing, will have to check that out tranzer How many users does mercury currently have or dust? peekay @tranzer Mercury Protocol is not out in the market yet so there's no users. The first set of users will be Dust users, there's a total of 2 million registered users on Dust (edited) monkfish how is Mercury related to Ark? dr10 It's an Ask-me-Anything thats being hosted here monkfish ah, thought that it had to be related to Ark to be hosted peekay Ark is an application. We're a communications protocol @monkfish monkfish I guess Ark is related to everything anyway :stuck_out_tongue: monkfish Ark presumably can presumably trigger things in the Mercury protocol via A.C.E.S or am I jumping a logical step? dr10 Questions should be about Mercury in the first place. dr10 Maybe you want to share details of your ongoing crowdsale? :slightly_smiling_face: peekay Nope. You're on point @monkfish. Ark can use Mercury Protocol tokenization or various premium features etc that are built on the protocol ze_rusty Is dust already using blockchain? kyle-mercury @bradmke if you believe in our vision to help build an application agnostic, self sustaining communication network that has an accountability system that rewards positive participation then owning GMT is a good way to support that. We want to help build Social Network 2.0, an ownerless network that effectively helps reduce harassment and trolling, while protecting user data. I'd highly recommend reading our vision post: https://medium.com/mercuryprotocol/our-vision-for-mercury-protocol-77d59aaae6bb monkfish @peekay could you give a use-case example? kyle-mercury @ze_rusty we will have an initial set of features that integrate the protocol into Dust the week after launch. I recommend downloading Dust so that you can make use of GMT within Dust after the token launch is completed. dr10 When does your crowdsale start and do you have a min/max cap? Fomowiz What is Dust? kyle-mercury Good question @dr10. Token launch details: -The token launch starts on Wed October 25th at block number 4,427,945(~9:00 AM PDT (UTC -7). -Token exchange rate is 7,000 GMT per 1 ETH -Total public cap of $20 million USD for 50% of the 1 billion token supply -Total $4 million USD (100 million tokens) reserved for accredited individuals and institutions -There is an individual cap limit until block number 4,431,102 (~5:00 PM PDT). The individual cap for first 8 hours will be 7 ETH, and the next four hours will be capped at 28 ETH. The 28 ETH cap in the second cap period is INCLUSIVE of any ETH you send during the first cap period (gas price is limited to 50 Gwei for length of cap period) -The token sale ends once either the hard cap of $20 million or block number 4,617,363 (~ 30 days) is reached -Minimum cap of 100 million tokens (10%, ~$4 million USD) must be sold to be considered a successful sale. If we don’t reach the minimum cap after ~30 days, all ETH will be returned to participants. -If we reach the 100 million token min cap but do not reach the full 500 million token ($20 million) hard cap, any unsold tokens will be sent to the GMT fund. Additional launch details can be found in our blog posts: https://medium.com/mercuryprotocol/global-messaging-token-launch-event-aaa6ca0852fa and you can find more on how to participate here: https://medium.com/@MercuryProtocol/how-to-participate-in-the-global-messaging-token-launch-6a5edc8b4187 evannico-mercury @Fomowiz Dust is a secure, private messaging application for iOS and Android. You can find more information on our website https://usedust.com/ tranzer I'm curious how long does 20m last for such project? peekay @monkfish sure, an example in Dust is where a user can have a "PremiumExposure" feature, where they pay a certain number of GMT tokens to be featured on our "Featured" user page for X number of days. Another example is the reward system. One reward feature we'll have soon is that every day you login, you get some GMT for being active. And if you log in for a week straight, you get more GMT for being a consistent active user. Then you can turn around and spend these GMT on our platform or or any platform that integrates the protocol in the future kyle-mercury @tranzer the majority of the funds raised will be used to develop the Mercury Protocol. We have been advised not to discuss further details until after the token launch is completed. peekay @tranzer primarily for research and development purposes peekay @monkfish I also recommend you check out our two blog posts which explain some of the features we're adding to Dust that use the protocol peekayhttps://medium.com/mercuryprotocol/first-integration-of-the-mercury-protocol-2a279e772633 dr10 OK we are approaching the 1 hour mark. Any last questions for Mercury Protocol team? Anything the team of Mercury Protocol would like to add or tell - feel free to do. Boarded2Late open question to any of the devs: do you have any plans in the future to partner with any of the pre-existing networks out there to test drive adoption? Mastadon is a decentralized social network app that could have a plugin built for it, for instance, or a pre-existing centralized site like Voat (reddit clone) could use it in tandem with their reddit like reputation system. Boarded2Late spitballing sites, feel free to ad lib your own as you read that question peekay @Boarded2Late yes, we're definitely open to that. We are application agnostic. We want to pool networks of users from different applications and their networks Boarded2Late I figured as much, was just wondering if it was a part of the roadmap I suppose dr10 Okay, if the team of Mercury Protocol would like to have any closing words you are free to write anything. peekay Thanks @dr10, we'd love to answer any question you have on our Slack, Reddit or Telegram community peekay we're all very active there dr10 Thank you Kyle, Preethi, Ian, Evan and Elliot for taking the time to do this AMA! All the best with the project and you are always welcome to hang around our Slack aswell :wink: monkfish goodluck doodz [9:57] I will take 80000 mercuries, where do I send my DOGE? elliot-mercury @dr10 thank you very much for having us! Looking forward to building a new paradigm of social networking with you all. kyle-mercury @dr10 Social networking platforms are currently held back by flawed principles and monetization strategies. Mercury Protocol will allow social networks to move forward by creating a tokenized social economy that decentralizes user data, incentivizes meaningful user actions, and discourages “walled garden” monopolies. We believe that the future of social networking and communications should exist as a decentralized, shared, and trustless network based on a tokenized ecosystem. This is why we’re building Mercury Protocol on the Ethereum blockchain, where the existing networks and smart contract infrastructure is primed to jump start the protocol. We hope that Mercury Protocol paves the way for a new kind of social application that no longer relies on network size and instead thrives on a given application’s merits, service, and methods of integrating with the underlying shared networks. Thank you for your participation and time! We hope you join the movement to build Social Network 2.0. Check out our website (https://www.mercuryprotocol.com/) and join our community!
→ Nigerian Entrepreneurs are Choosing Bitcoin Over the National Currency A growing number of businessmen in Nigeria are opting for handling their business using the digital currency instead of the Naira. → Crypto Wallet Ledger is Attracting Samsung and Google as Investors: ReportLeading hardware crypto wallet manufacturer and developer Ledger sold more than 1 million hardware wallets in 2017, recording a profit of $29 million. → PBoC Will 'Crush' Foreign ICOs Targeting Chinese Investors: OfficialPan Gongsheng, a vice governor of the People's Bank of China, has once more issued strong statements on initial coin offerings. **Gas Price Up, Referendum II on Hold.*\* The congestion across the Ethereum network and the sudden hike in the Gas price, sometimes climbing more than five times, led us to delay of distribution of our RSB2 tokens. Lately, it seems that the Gas price is finally going down. We will announce distribution as soon as possible when the cost of transactions drop to the fair price of 2. We are following the market closely and we will provide you with daily updates https://preview.redd.it/50a2m2m36c911.png?width=1190&format=png&auto=webp&s=0d95f70882e563f1fe17ca51060e6d0de91aa455 Source: Etherscan.io Daily Performances As expected we continue to see gappy moves in thin trading. $6,000 level will likely be a strong magnet given the large open interest in September options. Implied volatility is ticking up slowly despite tight ranges but it is unlikely the market can independently break out of the current consolidative phase without external catalysts. Weekly Top 5 Price comparison - BTC . - ETH . - XRP . - BCH . - EOS https://preview.redd.it/i5cmi7z0cb911.png?width=1080&format=png&auto=webp&s=22154e3b8b1ecd376c0220b8d10278832a52ad49 Technical Analysis -BTC BTCUSD is potentially completing an inverted head and shoulder pattern. Should it complete the right shoulder and break above the neckline, currently at $6,870, we would expect to see an upwards impulse towards $8,000, where it would meet the downward trend resistance. At this time, we are awaiting to see how this formation plays out. https://preview.redd.it/6h9xnzl5cb911.png?width=1348&format=png&auto=webp&s=8f1364b11f97d20ba6697618509a0291a10495a6 -------------------------------------------------------------------------
Tuesday,10. July 2018
→ Decentralized Crypto Exchange Bancor Hacked, $12M in Ether Stolen Bancor stated that a vulnerability was exploited to steal 24,984 ETH (approx $12 million), $1 million worth of NPXS and $10 million worth of BNT. → Major Futures Exchange Cboe Files For Bitcoin ETF, Increasing ProbabilityCboe has filed for a bitcoin ETF with the US SEC, to enable investors in the public market to trade bitcoin in an OTC ecosystem. → Bitcoin Could go Mainstream Within 10 Years: Imperial College ResearchCryptocurrencies possess the potential of becoming a widely used form of payment within the coming decade. → BitGo Adds 57 Ethereum Tokens In Largest-Ever Custody Service ExpansionBitcoin veterans are jumping into the token economy with new licenses and custody options. Daily Performances Nothing much has changed in the broad crypto landscape. BTC has remained comfortably above 20DMA despite the $6,000 level magnet, and also has been resilient to negative news. Light volumes still indicate a lack of conviction but $6,800-$7,000 range to the upside seems to be the short term target necessary for another leg higher. Summer season may bring more quiet trading but external shocks and/or significant news may cause a gappy move - more likely to the upside. Weekly Top 5 Price comparison - BTC . - ETH . - XRP . - BCH . - EOS https://preview.redd.it/t92pi3lry2911.png?width=1080&format=png&auto=webp&s=71b5e4891458a4d5fa98114c6f523bd46de3e813 Technical Analysis -BTC After periods of lower lows and retest of $6,000-a key support line and April lows, it seems like Bitcoin prices are making a turn for the better.. BTCUSD continues to be in a short term uptrend which is positive, but it is facing various resistance levels all the way to $7,000. Closing above $7,000 for a few days would be a strong confirmation of a new strong uptrend. Until then, we remain cautiously optimistic. https://preview.redd.it/ebu1dci2z2911.png?width=1348&format=png&auto=webp&s=dba7150d5a37efba69caffbf3407ccff16efaa0c --------------------------------------------------------
In our case, we used 20 Gwei as the gas price, and the gas used was 35,121 (you can also find this by inspecting the transaction in Etherscan), so the total gas cost is 35,121 * 20 Gwei = 702,420 Gwei or 0.00070242 ETH. Since gas costs money, you might want to set an upper limit of the maximum gas you are willing to spend. this is a retarded post, youre just setting the transaction fee so low it wont go into a block. who cares, as long as its on the avg gwei for the last few blocks on average ur transaction will make it. its not expensive either Whether you’re new to Ethereum or a hardened veteran, you’ve likely come across the word Gwei before. The most common situation where you’d notice the word gwei is when choosing a gas price for your Ethereum transaction that won’t make you wait or get stuck.And even then, you probably just paid attention to the amount of gas and not the name of the unit. The following blog post is an analysis of 2019 data with the goal of sharing actionable insights for Ethereum users. ... a standard ETH transfer spending 21k Gwei would cost you an average of 6 ... Claim : 180 Gwei - 0.0018 ETH Timer : 60min Cash out : Independent The SwissAdsPay Ethereum Faucet is a bit similar to FreeBitco.in or FreeDogeco.in ! You will click to roll and get between 180 Gwei and 0.0018 ETH, depending on your luck and 2 tickets for the lottery.
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