submitted by Godballz to CryptoCurrency [link] [comments]
Full article found here:
Summary of article below:
Activity: 364 Merit: 1997 View Profile
Re: BitDNS and Generalizing Bitcoin
December 09, 2010, 09:02:42 PM
Merited by Traxo (1)
I think it would be possible for BitDNS to be a completely separate network and separate block chain, yet share CPU power with Bitcoin. The only overlap is to make it so miners can search for proof-of-work for both networks simultaneously.
The networks wouldn't need any coordination. Miners would subscribe to both networks in parallel. They would scan SHA such that if they get a hit, they potentially solve both at once. A solution may be for just one of the networks if one network has a lower difficulty.
I think an external miner could call getwork on both programs and combine the work. Maybe call Bitcoin, get work from it, hand it to BitDNS getwork to combine into a combined work.
Instead of fragmentation, networks share and augment each other's total CPU power. This would solve the problem that if there are multiple networks, they are a danger to each other if the available CPU power gangs up on one. Instead, all networks in the world would share combined CPU power, increasing the total strength. It would make it easier for small networks to get started by tapping into a ready base of miners.
These were the anonymously written, prophetic words of Satoshi Nakimoto, posted to bitcointalk nearly a decade ago and yet they describe a concept that today we are only truly realizing. What Satoshi describes is not only an elegant solution to many of today's cryptocurrency shortcomings but if implemented properly, could form the backbone for an entire crypto-economy of secure, scalable, and self sufficient chains, outside of the flawed one we currently have.
This new crypto-economy would need to be backed by a secure chain itself with immunity to 51% attacks and powerful cutting edge technological features supporting anonymity and protection of assets to pass on down to the interconnected chains.
One such cutting edge project is Verus Coin (https://veruscoin.io/).
The lead Technical Developer of Verus is a former VP at Microsoft who also co-founded Microsoft’s Java and .NET platforms.
Verus has a unique, new consensus algorithm called Proof of Power, a 50% PoW/50% PoS algorithm that solves theoretical weaknesses in other PoS systems (Nothing at Stake problem for example) and is provably immune to 51% hash attacks. Verus utilizes zk-snarks tech zero-knowledge proofs and is not "forced private", allowing for both transparent and shielded (private) transactions along with private messages as well. They created their very own hardware equalizing algorithm VerusHash 2.0, that leverages the many hardware advantages intrinsic to modern CPU's architecture, enabling the most decentralizing hardware, CPUs (due to their virtually complete market penetration), to stay relevant as miners for the indefinite future. VerusHash 2.0 is specifically designed to better equalize hashrates across all mining hardware types, allowing CPUs and FPGAs to mine competitively on the same network and by favoring the latest CPUs over older types, has the additional benefit of being a defense against the centralizing potential of botnets.
Verus and the Verus Coin project are community driven, all open source (https://github.com/VerusCoin/VerusCoin) and they are also now currently running a test net of their all new protocol, PBaaS (Public Blockchain as a Service) with merged mining of up to 15 (including Verus) fully independent, secure, scalable chains that all share the properties of the parent chain described above. Check out their Discord to give merged mining a try for yourself.
I do know that merged mining as a concept has been around for a while. There are even some implementations out there too, but not on the scale of what Verus is doing. They are creating an ecosystem fully interconnected and yet independent blockchains that scale and because of their implementation (The bottom link on Merkle Mountain Ranges (MMRs)) they will all be able to be exchanged with each other and converted automatically, like a smart exchange without the need for buyers and sellers. What they are doing is truly revolutionary in it's one click chain creation ease and the fact that it is a massive network of chains (just like each of all the coins we have now) but where people can mine up to 15 projects at a time at no additional energy costs and all the created projects are fully protected. I do understand that other projects are doing great things as well and it was not my aim to downplay that but rather to highlight what can come next and fill in the holes left from a first generation blockchain network.
A Peek at the GUI (Graphical User Interface) version of the wallet
A Peek at the CLI (Command Line Interface) version of the wallet (with GUI) courtesy of a community member.
A helpful place for lots of useful information and if you want to learn more, check out their Medium page (https://medium.com/veruscoin)
A rough description of the concepts described above:
-PBaaS: or Public Blockchain as a Service is a revolutionary new take on the blockchain as a service model entirely unique to Verus that offers the tools and necessary means to build on and utilize blockchain technology for business or personal use. It is similar to using a web hosting service to build a website with, but rather than having to build one by yourself from scratch, the service provider supplies the basics and handles all the necessary tasks from general upkeep to infrastructure maintenance. Since Verus doesn't rely on a centralized authority to work, there isn't any one single point of failure in the network, so in the event of a hack, power failure, data breach or loss, Verus' system is immune while the other options aren't. Instead of relying on a centralized system, Verus elegantly does work for the public by utilizing the public to do work.
-Merge Mining: or auxiliary mining is a lesser known cryptographic concept that has been seldom discussed and even less so attempted, but can be found as far back as bitcointalk's earliest days. Unfortunately, development in this area of work has remained largely stagnant due to the numerous difficulties involved in coding it, coupled with the sheer complexity and vast scope involved in the programming work. Fortunately, the development team's years of experience and months of hard work have finally paid off, and now merge mining in it's true form is at last a reality. This means that a miner could find a block for Verus and now hypothetically also earn block rewards for several other projects at the exact same time! With literally nothing to lose, and significantly more to gain, it's a no brainer choice for miners. Now miners who mine for profit can make more with the same energy expenditure, while at the same time still have the option to speculatively mine and hold projects they really believe in or care about. Businesses and individual project creators will benefit too by being able to attach a newly formed project to the hashrate of a larger, more established one. This would provide security and reliability to new projects right away and in their earliest stages, a point where they are most vulnerable. Verus has created the foundation for which any person or business, whether small or large, can safely and easily enter into the blockchain.
A semi-visual descriptive paper on the immense benefits of utilizing Merkle mountain ranges, one of the many technologies implemented in Verus PBaaS- https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-May/012715.html
Also, full disclosure for readers or mods, I am also a member of this crypto community among several others and this should not diminish the value of it's content. I wrote this post to highlight a genuine technical achievement in cryptocurrency and if not here, then where do we discuss this?
The lead developer Michael Toutonghi has spent decades in the field programming and is a former Vice President and Technical Fellow at Microsoft, recognized founder and architect of Microsoft's .Net platform, ex-Technical Fellow of Microsoft's advertising platform, ex-CTO, Parallels Corporation, and an experienced distributed computing and machine learning architect. The project he helped create employs and makes use of a diverse myriad of technologies and security features to form one of the most advanced and secure cryptocurrency to date.
What their team has managed to do (in testnet, but open to the public for testing) is truly unique in that they've already built a functional system of fully interconnected blockchains that each are also completely independent from one another and fully scalable, private, secure, and immune to 51% attacks. Public blockchain as a service is their ultimate goal of offering these near infinite, secure blockchains to project creators, mineable for near zero energy and protected from attacks. Secure voting, polling, and identity using the tech are on the not-too-distant horizon.
Even the briefest glance over any of their work and it is easy to see this is not just another bs post. I hope this complies with all the rules. If there is some other place to discuss cryptocurrency and the launch of an all new system within it, please let me know. Things keep getting removed without a word said why. I'm happy to do things the proper way.
|Rate (per day)||0.69||9.75|
Generated with BBoe's Subreddit Stats (Donate)
What can you actually buy with Bitcoin, right here, right now in 2018? If you're not counting on HODLing for that lambo anytime soon, let's see what you can get for a few satoshis.
Put on your bikini and hit the beach on Bitcoin's dime, because travel is one of your best bets for spending your precious bitcoins right now.
Accepting bitcoin for pizza since 2013, Pizzaforcoins is a third-party intermediary that will happily take your BTC and convert that into doughy, cheesy goodness made by your vendor of choice.
Use Bitcoins - A directory platform listing 5,000 registered businesses that accept BTC. CoinMap - An interactive map of worldwide businesses accepting Bitcoin.
Interesting Ways to Spend Your BTC. If none of these are tickling your fancy, why not just opt for novelty factor when cashing out your BTC? If you're HODLing down in Dallas, show some local pride at a Mavericks game- the team's owner Mark Cuban has drastically changed his tune on Bitcoin, and will be lapping up BTC for tickets in the 2018-19 season.
Merchants are warming to the idea of our old friend Bitcoin and slapping up their "Bitcoin Accepted Here" stickers with glee.
NOTE: I'm mining SATOSHI, NOT BTC DIRECTLY
SATOSHI IS THE FRACTION OF A BTC
1 satoshi = 0.00000001 BTC
If you're not going to show me the proper equation, don't comment.
I have a bunch of android devices lying around and a developer of a mobile mining app (mining satoshi) was offering 50,000 satoshi (.0005 btc) (($7.00USD)) to anyone that rates it 5 stars, so i did this on 3 devices (one of them being an android emulator on my pc.
So as of now, im mining satoshi on a spare fire stick, a spare lg v20, and in bluestacks on the pc CPU, all while my pc GPU mines altcoin that gets converted to btc on zpool.
Satoshi is extremely easy to mine, and uses such little power to do it, i figured id screw around with it for a few days, but I'm curious. so this app has a min payout of .0045BTC (450,000 satoshi). So i wanted to try and calculate how long it would take for the V20, the fire stick, and my CPU, being used by bluestacks, to get to 450,000 satoshi, but i dont know where to start this calculation. The average hash rate of each device is 3.5 kH/s, im sure this has something to do with calculation, but again, idk where to start.
An example of how easy it is to mine satoshi, The v20 is off the charger, it can mine in the background while i use it, and i started it this morning (9 am MST) and its now 4:10 PM MST and i havent even hit 50% drainage on the battery yet.
import netvendtk def add_two(num): return num+2 service_agent = netvendtk.ServiceAgent('correct horse battery staple') print "service address: " + service_agent.get_address() service_agent.register_simple_service("add two", add_two, netvendtk.convert_value(0.01, 'mbtc', 'base')) batch_results = service_agent.work()First, we define a function. Any function would work, as long as the arguments and return values are json-encodable.
import netvendtk service_agent = netvendtk.ServiceAgent('bla') add_two_service_address = "1JwSSubhmg6iPtRjtyqhUYYH7bZg3Lfy1T" result = service_agent.call(add_two_service_address, "add two", , netvendtk.convert_value(0.01, 'mbtc', 'base'))We specify the service address, the name of the service ("add two"), arguments (), and the fee we'd like to send (0.01 mbtc). This script's ServiceAgent then signs its own series of requests and commands (this is what the 0.05 satoshis are for), first requesting the service, then fetching the response that our first script posts in response.
if service_agent.fetch_balance() > netvendtk.convert_value(1, 'mbtc', 'base'): service_agent.withdraw(netvendtk.convert_value(1, 'mbtc', 'base'), your_bitcoin_address)This would withdraw 1 mBTC of credit into Bitcoin if your agent has that much. Any credit your agent makes could be withdrawn on an automatic schedule like this, or can be spent buying services from other agents and scripts.
sa = netvendtk.ServiceAgent('your super secret seed') to_send = raw_input("string to send: ") print sa.call("1GbceejVDAShYRRXaT2TDdWjxpqbazwphm", "get last string", [to_send], 0)(Note that since my service is taking a fee of 0, it will eventually run out of netvend credit and die.)
import netvendtk #the 'correct horse battery staple' agent has credit already, meant for public use. chbs = netvendtk.Agent('correct horse battery staple') #using an Agent (not a ServiceAgent) because we're only using the low-level pulse command. #A ServiceAgent is just an Agent with some more methods, #so the next line could use an Agent or ServiceAgent. #either one will generate the same address and use the same netvend account. #you'll want to change this seed, as this is meant to be your own secure agent. my_agent = netvendtk.Agent('a super secret and suitably random seed') #this will be the public address for the keypair held in my_agent, #and is needed to receive pulses of credit. my_agent_address = my_agent.get_address() #now, send a pulse of credit from the chbs agent to your agent's address. #specify 10 satoshi, converted to the 'base' netvend unit (uSats). #Please don't be greedy! 10 satoshis will last you way longer than you'd think. chbs.pulse(my_agent_address, netvendtk.convert_value(10, 'satoshi', 'base'))
The Satoshi is currently the smallest unit of Bitcoin available. There are 100 million of them in one full Bitcoin. All other units (mBTC, bits, USD) are still available, so there are tons of Bitcoin conversion pairs to choose from. Satoshi to BTC? We've got that. Want to convert from the Satoshi to USD? You can! This Bitcoin converter is now extremely versatile. What is a Satoshi? Bitcoin, the world’s first cryptocurrency, has a unit called “Satoshi”. A Satoshi is the smallest unit of Bitcoin. It is named after Satoshi Nakamoto, the creator of Bitcoin. Each BTC is divisible until the 1/10^8 part. A unit of Satoshi is equal to 0.00000001 bitcoin. Bitcoin btc to usd converter screen shot 2017 11 28 at 5 44 05 pm png this bitcoin converter makes it insanely easy to do any kind of conversion you can instantly convert btc mbtc bits satoshis usd eur and more. What Is Satoshi To Btc Usd Converters. Bitcoin Converter S On Google Play. 1 Bitcoin Btc To Usd Converter Easy. How To Convert Bitcoins Dollars 11 Steps With Pictures. Bitcoin ... Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin. Satoshi to Bitcoin is a Bitcoin converter/calculator. Right now, we offer two converters: Satoshi to BTC and BTC to Satoshi. Конвертировать сатоши в биткоин и обратно, а также узнать в калькуляторе, сколько стоит один Satoshi в долларах, рублях, гривне и в других валютах. Узнайте цену Bitcoin, чтобы купить криптовалюты
[index]          
Use https://cashaddr.bitcoincash.org to convert you BCH to legacy format full guide here: https://mmsguide.blogspot.com In this video I will teach you on how I earned FREE BTC on a FREE WEBSITE DAILY! Register here: https://bit.ly/2XJoft5 LET'S CONNECT WITH T... Click Here to Signup: https://www.coinpayu.com/?r=sephvill • Link sa Coins.ph: 👉https://coins.ph/m/join/yokeau CODE: yokeau CLICK FOR MORE FREE REWARDS! http...